REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Birkbeck and William Ellis Schools Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Birkbeck and William Ellis Schools Trust |
Birkbeck and William Ellis Schools Trust |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
Birkbeck and William Ellis Schools Trust (Registered number: 04517407) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The company's principal activity was and remains that of raising charitable income for the maintenance, development and general welfare of William Ellis School. As William Ellis School is a state-funded comprehensive school, all the company's activities are designed to further its charitable purposes for the public benefit. |
The company was incorporated on 22 August 2002 as a company limited by guarantee. |
The company operates as a non-profit making organisation and is a registered charity, number 1102334. The trustees meet regularly to manage the affairs of the charity. |
The investment policy of the company is to adopt a risk averse approach. The trustees have examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks. |
Public benefit |
All charity trustees have a duty to have regard to the commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant. The trustees consider that they consider this guidance when making such decisions. |
FINANCIAL REVIEW |
Directors |
All directors of the company are also trustees of the charity, there being no other trustees. All of the trustees named served throughout the year except where shown. The board has the power to appoint additional trustees as it considers fit to do so. Trustee recruitment is subject to election by the board and the policy has normally been to seek to recruit individuals who have already been closely identified with William Ellis School, such as governors, former students or parents, and are thus considered to have both knowledge of the School and an appreciation of its needs and purposes as well as other, more general and personal qualities. |
Review of results for the year |
The accounts for the year show net incoming resources of £132,101 (2022 incoming resources : £910,322). Most of the incoming resources relate to a substantial donation of £100,000 made during the year.The principal activity as stated above has been served during the year by granting assistance to William Ellis School at a time of financial stringency. |
In the opinion of the trustees the assets of the charity are available and adequate to fulfil its obligations. Although there is no formal reserves policy in place, the trustees pursue a policy of due prudence and during the year undertook a review of investment policy in order to best protect the charity's capital reserves. |
FUTURE PLANS |
During the year the charity received a substantial donation of £100,000. The trustees will consider how best to use the donation after appropriate discussion. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Trustees are appointed by a majority of votes and in the case of an equality of votes the chairman has a second or casting vote. The charity is run by the trustees on a day to day basis.New trustees receive adequate training and support from the existing trustees. |
Birkbeck and William Ellis Schools Trust (Registered number: 04517407) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
S G Duker FCA |
Fredericks Limited |
Chartered Accountants |
106 Charter Avenue |
Ilford |
Essex |
IG2 7AD |
Solicitors |
Stone King Sewell LLP |
16 St Johns Lane |
London |
EC1M 4BS |
Bankers |
National Westminster Bank plc |
39 Milsom Street |
Bath |
BA1 1DS |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Birkbeck and William Ellis Schools Trust |
Independent examiner's report to the trustees of Birkbeck and William Ellis Schools Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
S G Duker FCA |
Fredericks Limited |
Chartered Accountants |
106 Charter Avenue |
Ilford |
Essex |
IG2 7AD |
12 October 2023 |
Birkbeck and William Ellis Schools Trust |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,876,855 |
Birkbeck and William Ellis Schools Trust (Registered number: 04517407) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments |
Investments | 5 |
Investment property |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 1,876,855 |
TOTAL FUNDS | 1,876,855 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Birkbeck and William Ellis Schools Trust (Registered number: 04517407) |
Balance Sheet - continued |
31 March 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Birkbeck and William Ellis Schools Trust |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Investments |
Investments are valued at the year end based upon the bid price at the close of business on that day or fair value if the market value is unavailable. It is the charity's policy to keep valuations up to date such that when investments are sold there is no realised gain or loss arising. As a result, the Statement of Financial Activities does not distinguish between the valuation adjustments relating to sales and those relating to continued holdings as they are together treated as changes in the value of the investment portfolio throughout the year. |
Investment income is accounted for as and when received. |
2. | INVESTMENT INCOME |
31.3.23 | 31.3.22 |
£ | £ |
Other fixed asset invest - FII | 28,763 | 24,730 |
Deposit account interest |
Birkbeck and William Ellis Schools Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
No trustee's remuneration was paid in 2022 or 2021. |
Trustees' expenses |
No trustee's expenses were paid in 2022 or 2021. |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
Net gains on investments |
NET INCOME |
Transfers between funds | 13,764 | (13,764 | ) | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 952,769 | 13,764 |
TOTAL FUNDS CARRIED FORWARD | 1,876,855 | - | 1,876,855 |
Birkbeck and William Ellis Schools Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
MARKET VALUE |
At 1 April 2022 |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 | 1,088,330 |
At 31 March 2022 | 1,221,661 |
There were no investment assets outside the UK. |
Fixed asset investments consist listed securities and Investment funds. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Other creditors |
Accruals and deferred income |
Accrued expenses |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General Fund | 1,814,490 | (36,864 | ) | 1,777,626 |
Trustees Fund | 60,000 | - | 60,000 |
Prize Fund | 2,365 | - | 2,365 |
(36,864 | ) |
TOTAL FUNDS | (36,864 | ) | 1,839,991 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 132,101 | (77,617 | ) | (91,348 | ) | (36,864 | ) |
TOTAL FUNDS | ( |
) | ( |
) | (36,864 | ) |
Birkbeck and William Ellis Schools Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.22 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 890,404 | 910,322 | 13,764 | 1,814,490 |
Trustees Fund | 60,000 | - | - | 60,000 |
Prize Fund | 2,365 | - | - | 2,365 |
952,769 | 910,322 | 13,764 | 1,876,855 |
Restricted funds |
Sydney Baxter Memorial Fund | 13,764 | - | (13,764 | ) | - |
TOTAL FUNDS | 966,533 | 910,322 | - | 1,876,855 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 924,730 | (44,836 | ) | 30,428 | 910,322 |
TOTAL FUNDS | 924,730 | (44,836 | ) | 30,428 | 910,322 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 890,404 | 873,458 | 13,764 | 1,777,626 |
Trustees Fund | 60,000 | - | - | 60,000 |
Prize Fund | 2,365 | - | - | 2,365 |
952,769 | 873,458 | 13,764 | 1,839,991 |
Restricted funds |
Sydney Baxter Memorial Fund | 13,764 | - | (13,764 | ) | - |
TOTAL FUNDS | 966,533 | 873,458 | - | 1,839,991 |
Birkbeck and William Ellis Schools Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 1,056,831 | (122,453 | ) | (60,920 | ) | 873,458 |
TOTAL FUNDS | 1,056,831 | (122,453 | ) | (60,920 | ) | 873,458 |
8. | RELATED PARTY DISCLOSURES |
9. | FUNDS |
The General Fund and Trustees Fund are comprised of appropriations made and appeal monies received and applied against capital projects undertaken. |
The Prize Fund was established to provide prizes for exceptional students, to be awarded at the discretion of the headmaster. |
The Sydney Baxter Memorial Fund is comprised of donations made and to be applied against bursaries given at the trustees' discretion. This fund is now considered obsolete and was transferred to the general fund during the year. |
10. | LIMITED LIABILITY |
The charity is a company limited by guarantee. The memorandum and articles of the company restrict the liability of the members upon winding up to £1. In the case of winding up none of the accumulated funds are distributable to members but shall be given or transferred to some other charitable institution having similar objects. |
11. | CURRENCY OF PRESENTATION |
The accounts are presented in pounds sterling. |