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2021-08-31-accounts

CHARITY REGISTRATION NUMBER: 529619

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The Richmond School Trust Accounts For The Period Ending - 31 August 2020

The Finance Team September 2020

The Richmond School Trust

Statement of Financial Activities

Period Ending 31 August 2020

The Finance Team present their report and the unaudited financial statements of the charity for the period ended 31 August 2020. This 5 month period is due to the move to a new Financial Year from 1 September 2020 to 31 August 2021 in line with the School and Academy Financial Year.

Reference and administrative details

Registered charity name The Richmond School Trust Charity registration number 529619 Principal office 17 The Convent Reeth Road Richmond North Yorkshire DL10 4GD Independent examiner Jane Greenwood The Cottage Tunstall DL10 7QS

Achievements and performance

During the period the charity gave grants to students of £13,980 (2019-2020 £37,764)

The Trusts investments recovered from the losses made in the previous year due to Coronovirus Market Conditions and made a gain of £148,322 (2019-2020 Loss £25,805)

The Trustees have forward commitments for awards of £50,000 towards the 3G sports Pitch made in November 2018.

The Trustees assets amount to £1,045,384 (2019-2020 £945,775)

William E Gedye Treasurer & Finance Team Chair

Page 2

The Richmond School Trust

Statement of Financial Activities

Period Ending 31 August 2020

Income and Endowments
Investment Income
Deposit Account Interest
Total Income
Expenditure
Prior Year
Expenditure on Charitable Activities
Clerk & Administration
Legal Costs
Accountancy
Forward Commitments
Total Expenditure
Net gains on investments
Net income and net movement of funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 This Period
Unrestricted
Funds
16,374
12
16,386
0
13,980
819
0
0
50,000
64,799
148,322
99,909
945,475
1,045,384		 Last year
Unrestricted
Funds
32,678
134
32,812
3,806
37,764
2,106
2,064
300
0
46,040
(25,805)
(39,033)
984,508
945,475

The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.

Page 3

The Richmond School Trust

Statement of Financial Activities

Period Ending 31 August 2020

ng31 August 2020
Note
Investments
Brought Forward
Gain/(Loss)
Purchase/(Sales)
Investments Carried Forward
Cash At Bank
Current Account
Deposit Account
Creditors: amounts falling due within one year
Net Cash
Total Assets less current liabilities		 This Period
£
903,469
148,322
30,000
1,081,791
2,841
10,752
50,000
(36,406)
1,045,384		 Last year
£
944,274
(25,805)
(15,000)
903,469
22,304
20,367
664
42,671
945,475

Investments are all held in the Charities Ethical Investment Fund of the CCLA.

Following Examination, these financial statements were approved by the board of trustees and authorised for issue on xxxxxxxxxxx and are signed on behalf of the board by:

Elaine Walton Chair of The Trustees

Page 4

The Richmond School Trust

Examiners Report

Period Ending 31 August 2020

I report to the trustees on my examination of the financial statements of The Richmond School Trust ('the charity') for the 5 months ended 31 August 2020

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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 charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other 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.

…......................

Jane Greenwood Independent examiner

The Cottage Tunstall North Yorkshire DL10 7QA

The Richmond School Trust

Notes to The Financial Statements

Period Ending 31 August 2020

1 General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated.

2 Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice

3 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Investments

Listed investments are measured at bid market value with changes being recognised in income or

Page 6

CHARITY REGISTRATION NUMBER: 529619

The Richmond School Trust Accounts For The Financial Year Ending - 31 August 2021

The Finance Team October 2021

The Richmond School Trust

Statement of Financial Activities

Year Ending 31 August 2021

The Finance Team present their report and the unaudited financial statements of the charity for the year ended 31 August 2021

Reference and administrative details

Registered charity name The Richmond School Trust Charity registration number 529619 Principal office 55 Maison Dieu Richmond North Yorkshire DL10 7AU Independent examiner Jane Greenwood The Cottage Tunstall DL10 7QS

Achievements and performance

During the period the charity gave grants to students of £28,833 (April-August 2020 £13,980) Grants to school were £11,149 (April-August 2020 - £50,000)

The Trusts investments continued to perform well and made a gain of £170,541

(April-August 2020 - £148,322)

The Trustees settled the commitment of £50,000 towards the 3G sports Pitch made in November 2018.

Forward Commitments amount to £17,545 (August 2020 £50,000)

The Trustees assets amount to £1,191,091 (August 2020 £1,045,384)

The Total Investment Return Carried Forward is £569,333 (August 2020 - N/A)

Page 2

The Richmond School Trust

Statement of Financial Activities

Year Ending 31 August 2021

Income and Endowments
Investment Income
Deposit Account Interest
Total Income
Expenditure
Expenditure on CharitableActivities
Administration & Bank Charges
Forward Commitments
Total Expenditure
Net gain on investments
Net income and net movement of funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2021
Unrestricted
Funds
32,746
1
32,747
39,982
54
17,545
57,581
170,541
145,707
1,045,384
1,191,091		 2020
Unrestricted
Funds
16,374
12
16,386
13,980
819
50,000
64,799
148,322
99,909
945,475
1,045,384

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Page 3

The Richmond School Trust

Statement of Financial Activities

Year Ending 31 August 2021

Note
Fixed Assets
Brought Forward
Gain/(Loss)
Purchase/(Sales)
Investments Carried Forward
Cash At Bank
Current Account
Deposit Account
Creditors: amounts falling due within one year
Net Current Assets
Total Assets less current liabilities		 2021
£
1,081,791
170,541
(53,000)
1,199,332
1,005
8,299
17,545
(8,241)
1,191,091		 2020
£
903,469
148,322
30,000
1,081,791
2,841
10,752
50,000
(36,406)
1,045,385

Investments are all held in the Charities Ethical Investment Fund of the CCLA.

At the Trustees meeting on 18 November 2020 a resolution was agreed to recognise the 'Total Return Investment' Approach to Income from investments.

Fixed Baseline Investment
Unallocated Total return
Total Fund at 18 November
Net Total Return in Year
Value of Total Return c/f
Baseline Carried c/f
Investments Carried Forward		 Investment Fund
N/A
630,000
377,799
1,007,799
191,534
569,333
630,000
1,199,333

These financial statements were approved by the board of trustees and authorised for issue on 17 November 2021 and are signed on behalf of the board by:

….............................................................

…...................................................

William Gedye Date Treasurer

…...................................................................

…...................................................

Elaine Walton Date Chair of The Trustees

Page 4

The Richmond School Trust

Examiners Report

Period Ending 31 August 2021

I report to the trustees on my examination of the financial statements of The Richmond School Trust ('the charity') for the 12 months ended 31 August 2021

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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 charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other 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.

…...................... …...............................................

Jane Greenwood Independent examiner

Date

The Cottage Tunstall North Yorkshire DL10 7QA

Page 5

The Richmond School Trust

Notes to The Financial Statements

Period Ending 31 August 2021

1 General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated.

2 Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice

3 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Investments

Listed investments are measured at bid market value with changes being recognised in income or

Total Return Investment

At the Trustees meeting on 18 November 2020 a resolution was agreed to recognise the 'Total Return Investment' Approach to investments.

Page 6

From: "Jane Greenwood" janegreenwood273@gmail.com To: "wgedye" wgedye@btinternet.com Sent: Thursday, 29 Oct, 20 At 09:51 Subject: RST accounts examination

Hi William

I have completed my examination of the accounts and find everything to be in very good order.

My only recommendation would be for the Trustees to consider how to treat "lost" cheques - i.e. the £250 from March - should be added back into the funds after a 6 month period and the cheque cancelled.

As this incurs costs and further work for the Trust, the Trustees might consider moving payments to online banking, so that payments can be traced more easily. A copy bank statement showing the name and address of the recipient should be sufficient to ensure the funds are being transferred to the correct person.

Please could the Trustees reference that the accounts have been independently examined on a pro bono basis by Jane Greenwood of Doing Good Works.

Just let me know when you would like to collect the file, one of us is usually around each day.

best wishes Jane

RST accounts Jane G￿nw0c￿ janegreenw(x)d273@omailLom To:wgedye wgedye@btinternet.co 2711012112..14 AAC RSTrustees Hi William I have completed the examination of the accountsand I have not found anything that I need to report on. The accounts a￿ very well kept and the &(wnting fcKthetotal retum of Investments is deal. l am at hcxne Thursdayarbj Fndtythis weel Tuesd3y ￿xtWetk if ￿ wwld like to collect them. 8est wishes Jane