Trustee’s Annual Report for the period: 1 April 2022 until 31 March 2023
Administration details
| Administration details | |
|---|---|
| Charity name | Stafford Education Centre Charity |
| Charity registration number | 528604 |
| Charity principal address | 2 Staffordshire Place, Tipping Street, Stafford, ST16 2DH |
Objectives:
| Governing document | Title Deed registered with Charity Commission on 26 July 1963 Governing document – scheme dated 11 March 2016 |
|---|---|
| Objective of the Charity | 1. The promotion of education of persons between the ages of 14 and 19 years (and subject to the provisions of sub-clause 2 of this clause for children under the age of 14) who are resident in, or being educated in, Stafford in such ways as the Trustee sees fit. 2. The Trustee may permit the property of the charity to be used for the education of children under the age of 14 by the granting of a licence to an educational institution in need of such use (for conditions see scheme). |
Structure, governance and management
| Registered Trustee | Staffordshire County Council |
|---|---|
| Managing Trustees | Managing Trustees are representatives of Staffordshire County Council Charities and Trust Committee. Criminal Records Bureau checks were carried out prior to commencement of their involvement. |
Financial details
To achieve the objectives in 2022/23, the Registered Trustee gave approval to allocate income to the education of young people, resident in Stafford, as part of the Stafford 14-19 Partnership.
| During the 2022/23 financial year, total income received from permanent and temporary investments was £162,833.22 and total expenditure was £149,320.00. The details of expenditure from the Endowment are as follows: |
During the 2022/23 financial year, total income received from permanent and temporary investments was £162,833.22 and total expenditure was £149,320.00. The details of expenditure from the Endowment are as follows: |
|---|---|
| Narrative | £ |
| Approved contribution to Stafford 14-19 Partnership | 149,320 |
| Total | 149,320 |
Investments
| Name of Investment | Number of Units | Market Value as at 31 March 2023 £ |
|---|---|---|
| COIF Investment Fund | 291,165.50 | 5,455,452 |
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 and Pensions
Date: 20/10/23
Stafford Education Centre Charity TA0141
Statement of Income & Expenditure for the period 1 April 2022 - 31 March 2023
| Balance on temporary investment b/fwd 1 April 2022 Income Interest on permanent investments Interest on temporary investments Expenditure |
Balance on temporary investment b/fwd 1 April 2022 Income Interest on permanent investments Interest on temporary investments Expenditure |
Balance on temporary investment b/fwd 1 April 2022 Income Interest on permanent investments Interest on temporary investments Expenditure |
Balance on temporary investment b/fwd 1 April 2022 Income Interest on permanent investments Interest on temporary investments Expenditure |
£ 158,626.97 4,206.25 |
£ 158,626.97 4,206.25 |
£ 158,626.97 4,206.25 |
£ 98,182.81 162,833.22 |
£ 98,182.81 162,833.22 |
|||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Contribution to Stafford 14-19 Partnership2022 / 2023 | (149,320.00) | (149,320.00) | |||||||||
| Surplus income on temporary investment with Staffordshire County Council at 31 March 2023 Commitment to Stafford 14-19 Partnership2023 / 2024 (178,261.00) Total available for expenditure at 31 March 2023 Summary of Investments Purchase Nominal Unit Value |
Market Value | 111,696.03 111,696.03 Forecast Annual |
|||||||||
Nominal |
|||||||||||
| Permanent Investment Type | Price | Value | 31/03/2023 | Income Due |
|||||||
| £ | units | £ | £ | ||||||||
| 158,754 jun/sep/ dec/mar |
|||||||||||
| COIF Investment Fund Shares | 3,325,969.15 291,165.50 |
1,873.66 | 5,455,452 | ||||||||
| Total Market Value as at 31 March 2023 |
5,455,452 | 158,754 |
Independent Examiner's Report to the Trustees of Stafford Education Centre Charity- 528604 I report to the Trustees on my examination of the accounts of the Stafford Education Centre Charity 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 accordan with the requirements of the Charities Act 2011 {'the Ad,). 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 ExamTner'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 Services Staffordshire Place 1 Tipping Street S*afford Staffordshire ST16 2DH 03 October 2023