## **Trustee’s Annual Report for the period: 1 April 2022 until 31 March 2023** ## **Administration details:** |**Administration details:**|| |---|---| |Charity name:|**Rugeley Educational Endowment**| |Charity registration number|**528603**| |Charity principal address:|**2 Staffordshire Place, Tipping Street,**
**Stafford, ST16 2DH**| ## **Objective:** |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.**| ## **Structure, governance and management:** |Registered Trustee|Staffordshire County Council| |---|---| ||| |Managing Trustees|Managing Trustees are Teachers, Governors or
representatives of the eligible schools appointed
by each school.
Criminal Records Bureau checks were carried out
prior to commencement of their involvement.| 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. |During the 2022/23 financial year, total income received from permanent and
temporary investments was £88,987.94 and total expenditure was £60,996.37.
The details of the expenditure from the Endowment are as follows:|During the 2022/23 financial year, total income received from permanent and
temporary investments was £88,987.94 and total expenditure was £60,996.37.
The details of the expenditure from the Endowment are as follows:| |---|---| |Area of expenditure|Amount
£| |Financial Assistance/ Grants/ Awards|18,310.06| |Educational Equipment|30,057.18| |Educational Visits|12,629.13| |Total|**60,996.37**| ## Investments |Investments||| |---|---|---| |Name of Investment|Number of Units|Market Value as at
31 March 2023
£| |COIF Investment Fund|94,001.34|1,761,266| ## Additional information Managing Trustees also committed expenditure to the value of £47,317 towards individual school projects, which was unspent at the year end. During the year £1,200,000 of permanent Endowment COIF Investment Fund Shares were sold and the proceeds used for a new Classroom at the Hart school, as approved by Charity Commission. ## **Independent Examination** The financial accounts of the charity for the financial year 2022/23 were checked and approved by an independent examiner from the Staffordshire Internal Audit Service. Signed on behalf of the Charity Trustees Full name: Melanie A. Stokes Position: Assistant Director for Treasury & Pensions Date: 20/10/23 ## **RUGELEY EDUCATIONAL ENDOWMENT - TA0010** ||**£**
Balance on temporary investment b/fwd
1 April 2022
Income
Interest on permanent investments
86,740.43
Interest on temporary investments
2,247.51
Expenditure
**Statement of Income & Expenditure for the period**|**£**
Balance on temporary investment b/fwd
1 April 2022
Income
Interest on permanent investments
86,740.43
Interest on temporary investments
2,247.51
Expenditure
**Statement of Income & Expenditure for the period**|**1 April 2022- 31 March 2023**
**£**
88,290.95
88,987.94|**1 April 2022- 31 March 2023**
**£**
88,290.95
88,987.94| |---|---|---|---|---| ||Educational Equipment
Education Visits
Endowment Prizes
Sporting/Cultural Activities
Discretionary Grants
Financial Assistance
Other services|(26,201.35)
(12,629.13)
(8,991.44)
(3,855.83)
(6,585.87)
(2,732.75)||(60,996.37)| |||||| ||Surplus income on temporary investment with
Staffordshire County Council at
31 March 2023
Committed Expenditure|||**116,282.52**| ||(Please see attached breakdown for full details)|(47,317.48)||(47,317.48)| ||**Total available for expenditure at**
**31 March 2023**|||**68,965.04**| ## **Summary of Investments** ||||||||||Forecast| |---|---|---|---|---|---|---|---|---|---| |||Purchase|Nominal
Value||Unit
Value||Market Value||Annual| ||Permanent Investment Type|Price|||||||Income| ||||||||||| |||£||Units|||£||£| ||||||||||| ||COIF Investment Fund Shares at 1 April 2022
1,504,736.04
159,215.19
Sale of Shares 9 January 2023
(616,333.29)
(65,213.85)
COIF Investment Fund Shares at 31 March 2023
888,402.75
94,001.34||||1,947.35
1,840.10
1,873.66||3,100,477
(1,200,000.00)
1,761,266||86,813
51,253| ||Total Market Value as at
31 March 2023||||||1,761,266||51,253| 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 The Rugeley Educational Endowment Trust ('the Trust,) for the year ended 31 March 2023. 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,). 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.. 1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act., or 2. 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. Lee Taylor Audit Assistant Internal Audit SeNices Staffordshire Place 1 Tipping Street Stafford Staffordshire ST16 2DH 03 October 2023