Trustee’s Annual Report for the period: 1 April 2020 until 31 March 2021
Administration details:
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Charity name: Rugeley Educational Endowment
Charity registration 528603
number
Charity principal 2 Staffordshire Place, Tipping Street,
address: Stafford, ST16 2DH
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Objective:
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Governing document: Title Deed registered with Charity
Commission on 31 March 1994 and as
amended on 6 July 2017
Objective of the Charity To provide for any eligible school
equipment and other items, services and
facilities for such school and thereby
advance education thereat.
In otherwise promoting the education
either generally or individually of
beneficiaries.
The Trustee shall apply income in
awarding prizes to pupils in recognition
of their academic, artistic, moral of
physical achievements, thereby
furthering their education.
Area of Benefit shall mean the area of
Rugeley.
Eligible school shall mean any secondary
school in the Area of Benefit.
Beneficiaries shall mean persons under
25 years of age who are or who have
been pupils of an eligible school.
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Structure, governance and management:
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Registered Trustee Staffordshire County Council
Managing Trustees Managing Trustees are Teachers, Governors
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or representatives of the eligible schools appointed by each school. Required checks were carried out prior to commencement of employment.
Schools represented were :
The Hart School Academy
Financial details and summary of the allocation of funds
The Managing Trustees met regularly to consider requests and to allocate awards and grants to individual pupils and to the school, to support various projects including the purchase of digital learning services, the award of student prizes and rewards and contributing to various educational visits.
The financial statements were supplied and analysed by the Managing Trustees three times during the year.
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During the 2020/21 financial year, total income received from permanent
and temporary investments was £83,365 and total expenditure was
£67,587.
The details of the expenditure from the endowment are as follows:
Area of expenditure Amount
£
Financial Assistance/ Grants/ Awards 16,068
Educational Equipment 16,741
Cultural Activities 9,524
Educational Visits 25,254
Total 67,587
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Investments
Name of Investment Number of Units Market Value as at
31 March 2021
£
COIF Investment Fund 159,215.19 2,854,155
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Additional information
Managing Trustees also committed expenditure to the value of £42,682 towards individual school projects, which was unspent at the year end.
Independent Examination
The financial accounts of the charity for the financial year 2020/21 were checked and approved by an independent examiner from the Staffordshire Audit Service.
Signed on behalf of the Charity Trustees
Full name: Melanie A. Stokes
Position: Assistant Director for Treasury & Pensions Date: 11/06/2021
RUGELEY EDUCATIONAL ENDOWMENT - TA0010
Statement of Income & Expenditure for the period 1 April 2020 - 31 March 2021
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£ £
Balance on temporary investment b/fwd 1 April 2020 72,720.37
Income
Interest on permanent investments 83,365.06
Interest on temporary investments 83,365.06
Expenditure
Endowment Prizes (3,517.32)
Discretionary Grants (12,066.52)
Financial Assistance (484.23)
Educational Equipment (16,740.95)
Sporting/Cultural Activities (9,523.99)
Education Visits (25,253.58)
Other services (67,586.59)
Surplus income on temporary investment with
Staffordshire County Council at 31 March 2021 88,498.84
Committed Expenditure (42,682.21) (42,682.21)
(Please see attached breakdown for full details)
Total available for expenditure at 31 March 2021 45,816.63
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Summary of Investments
| Permanent Investment Type | Purchase Nominal Unit Price Value Value as £ Units |
Purchase Nominal Unit Price Value Value as £ Units |
Market Value at 31 Mar 2021 £ |
Forecast Annual Income Due £ |
Forecast Annual Income Due £ |
||
|---|---|---|---|---|---|---|---|
| COIF Investment Fund Shares 1,504,736.04 159,215.19 1,792.64 |
2,854,155.18 | 85,054 jun/sep/dec/mar |
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| Total Market Value as at 31 March 2021 | 2,854,155.18 | 85,054 |
Independent Examiner’s Report to the Trustees of The Rugeley Educational Endowment - 528603
I report to the trustees on my examination of the accounts of the Rugeley Educational Endowment Trust (the trust) for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records.
I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Claire Scott Audit Assistant Internal Audit Services Staffordshire County Council Staffordshire Place 1 Tipping Street Stafford ST16 2DH
Date: 11 June 2021