IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY Mrs S J Brolly Ms J A Flynn L N J Gardiner Mrs D M James W A Marshall Miss J Rainbow M R Strevens Ms K M Uren Mrs C L Woolcock C J Peers A Stott FRS 102 Unaudited Small companies regime for accounts Full Charities SORP true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080130752023-03-31080130752024-03-31080130752023-04-012024-03-31080130752022-03-31080130752022-04-012023-03-31080130752023-03-3108013075ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-3108013075ns15:PoundSterling2023-04-012024-03-3108013075ns0:Trustee12023-04-012024-03-3108013075ns0:Trustee22023-04-012024-03-3108013075ns0:Trustee32023-04-012024-03-3108013075ns0:Trustee42023-04-012024-03-3108013075ns0:Trustee52023-04-012024-03-3108013075ns0:Trustee62023-04-012024-03-3108013075ns0:Trustee72023-04-012024-03-3108013075ns0:Trustee82023-04-012024-03-3108013075ns0:Trustee92023-04-012024-03-3108013075ns0:Trustee102023-04-012024-03-3108013075ns0:Trustee112023-04-012024-03-3108013075ns11:FRS1022023-04-012024-03-3108013075ns11:AuditExempt-NoAccountantsReport2023-04-012024-03-3108013075ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108013075ns11:FullAccounts2023-04-012024-03-3108013075ns11:CharitiesSORP2023-04-012024-03-3108013075ns0:TotalUnrestrictedFunds2023-04-012024-03-3108013075ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3108013075ns0:Activity82023-04-012024-03-3108013075ns0:Activity8ns0:TotalUnrestrictedFunds2023-04-012024-03-3108013075ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3108013075ns0:Activity82022-04-012023-03-3108013075ns0:TotalUnrestrictedFunds2023-03-3108013075ns0:TotalRestrictedIncomeFunds2023-03-3108013075ns0:TotalUnrestrictedFunds2024-03-3108013075ns0:TotalRestrictedIncomeFunds2024-03-3108013075ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-3108013075ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2024-03-3108013075ns10:WithinOneYear2024-03-3108013075ns10:WithinOneYear2023-03-310801307522023-04-012024-03-3108013075ns0:TotalUnrestrictedFunds2022-04-012023-03-3108013075ns0:TotalRestrictedIncomeFunds2022-04-012023-03-3108013075ns0:Activity8ns0:TotalUnrestrictedFunds2022-04-012023-03-3108013075ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31
REGISTERED COMPANY NUMBER: 08013075 (England and Wales)
REGISTERED CHARITY NUMBER: XXXXXXXX












REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE PENWITH EDUCATION TRUST
(A COMPANY LIMITED BY GUARANTEE)

THE PENWITH EDUCATION TRUST






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Report of the Trustees 1 to 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 10

THE PENWITH EDUCATION TRUST (REGISTERED NUMBER: 08013075)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


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 2024. 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).

The Penwith Education Trust (PET) is a charitable trust and a company limited by guarantee created under the auspices of the School Standards Framework Act 1998 and uses a DCSF approved model Memorandum and Articles of Association. The company was registered on the 30 March 2012 and has not yet become a registered charity but has charitable objects.

The trust was set up to administer and manage the property and other assets of the company known as The Penwith Education Trust for public benefit, as defined by the objectives included within the Memorandum and Articles of Association.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Trust are defined in paragraph 3 of the Articles of Association and are:

'to advance the education of the pupils at the Schools, to advance the education of other members of the community, and otherwise to benefit the community, it being acknowledged that in carrying out the Objects the Trust must (where applicable) have regard to its obligation to promote community cohesion under the Education Acts.

It is intended that the curriculum and ethos of the schools included as members of the Trust will place an emphasis on, and include a commitment to students learning about, the Co-operative values of self-help, self-responsibility, democracy, equality, equity, solidarity, honesty, openness, social responsibility and caring for others with the aim of encouraging all students to become better citizens, not only while they are students but during the rest of their lives'.

The Aims of the Trust are:

- Ensure consistently high expectations and outcomes across all of our schools: amongst learners, teachers, parents and carers.
- Enable all learners to benefit from high quality teaching and learning;
- Work effectively with parents and carers, professionals and the wider community to promote health and well-being, in order to create the right conditions for learners to thrive;
- Make efficient use of all resources available to us and thereby maximise the benefits for learners;
- Work with external partners including other Schools to widen the range of collaborative opportunities available to our workforce and our young people;
- Improve social cohesion within our community by strengthening our commitment to co-operative values, including respect, social justice, fairness and democracy.


THE PENWITH EDUCATION TRUST (REGISTERED NUMBER: 08013075)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE
During this year there has been a continued response to address matters that have arisen through Covid. All schools have worked collectively to share best practice in a number of areas. Schools also continue to work collaboratively on shared training and moderation where appropriate, to the benefit of all member schools and their staff. However, since Covid, meetings have generally been via Zoom following our initial in-person AGM. Without a company secretary this year it has at times been difficult to find convenient times and dates to suit all member schools.

Against this back drop the following achievements are worthy of note:

1. PESCo Ltd (a wholly owned subsidiary of the PET operating on a not for profit basis), which exists to facilitate electricity generation funded by private finance, has traded successfully for another year.

2. Continued collaboration in relation to on-going training of staff and governors.

3. Substantial investment from the restricted funds into the ongoing capital projects at Humphry Davy School.

In connection with GDPR requirements, the Trustees decided that registration was not required. The Trust holds information on trustees only as a matter of public record and as such is exempt from registration.

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
Members of the Trusts' Board are directors for the purpose of company law and trustees for the purposes of charitable law. The composition of the Trustee Board is as follows:

Two trustees from - Heamoor Primary School, Humphry Davy School, Marazion Community Primary School, St Levan Community Primary School, Gwinear Community Primary School, and Trythall Community Primary School.

One (1) trustee is appointed by each of the following partner institutions:

Co-operative Movement, Truro and Penwith College and Cornwall College

Three (3) trustees are entitled to be appointed by the stakeholder forum. The stakeholder forum comprises of people elected from the general membership of the Co-Operative Trust. The forum is presently inactive.

Organisational structure
The Penwith Education Trust has a Trustee Board (listed above as at the end of the financial year) who meet a minimum of three times each year. The members are responsible for the strategic direction and policy of the PET.

A scheme of delegation is in place and the day to day responsibility for the organisation rests with the board.

Six member schools participating in the trust contribute (out of their financial budgets) towards the cost of running the organisation to enable the trust to operate and generate further income to use to achieve its charitable objectives.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Procedure is in place regarding health and safety of staff, clients and visitors to the schools of the Trust. The trustees seek appropriate advice, for example through their insurers, solicitors and Cornwall Council Local Authority


THE PENWITH EDUCATION TRUST (REGISTERED NUMBER: 08013075)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08013075 (England and Wales)

Registered office
Heamoor Community Primary School
Bosvenna Way
Penzance
Cornwall
TR18 3JZ

Trustees
Mrs S J Brolly Teacher
Ms J A Flynn Head Teacher
L N J Gardiner Headmaster
Mrs D M James Teacher
W A Marshall Head Teacher
Miss J Rainbow Head Mistress
M R Strevens Head Teacher
Mrs C L Woolcock Head Teacher
C J Peers Retired
A Stott
T Binns

Approved by order of the board of trustees on 25 November 2024 and signed on its behalf by:





Mrs S J Brolly - Trustee

THE PENWITH EDUCATION TRUST

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Incoming resources 1,000 - 1,000 3,000

Investment income 2 2,331 - 2,331 265
Other income 1 - 1 653
Total 3,332 - 3,332 3,918

EXPENDITURE ON
Charitable activities
Charitable activities 1,267 - 1,267 2,442

NET INCOME 2,065 - 2,065 1,476


RECONCILIATION OF FUNDS
Total funds brought forward 17,164 196,214 213,378 211,902

TOTAL FUNDS CARRIED FORWARD 19,229 196,214 215,443 213,378

THE PENWITH EDUCATION TRUST (REGISTERED NUMBER: 08013075)

BALANCE SHEET
31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
CURRENT ASSETS
Debtors 6 - - - 500
Cash at bank 19,829 196,214 216,043 213,478
19,829 196,214 216,043 213,978

CREDITORS
Amounts falling due within one year 7 (600 ) - (600 ) (600 )

NET CURRENT ASSETS 19,229 196,214 215,443 213,378

TOTAL ASSETS LESS CURRENT
LIABILITIES

19,229

196,214

215,443

213,378

NET ASSETS 19,229 196,214 215,443 213,378
FUNDS 8
Unrestricted funds 19,229 17,164
Restricted funds 196,214 196,214
TOTAL FUNDS 215,443 213,378

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.


THE PENWITH EDUCATION TRUST (REGISTERED NUMBER: 08013075)

BALANCE SHEET - continued
31 MARCH 2024

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 25 November 2024 and were signed on its behalf by:





S J Brolly - Trustee

THE PENWITH EDUCATION TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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.

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.

2. INVESTMENT INCOME
2024 2023
£    £   
Bank interest received 2,331 265

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.



THE PENWITH EDUCATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

2024 2023
Trustees 11 11

No employees received emoluments in excess of £60,000.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Incoming resources 3,000 - 3,000

Investment income 265 - 265
Other income 653 - 653
Total 3,918 - 3,918

EXPENDITURE ON
Charitable activities
Charitable activities 2,442 - 2,442

NET INCOME 1,476 - 1,476


RECONCILIATION OF FUNDS
Total funds brought forward 15,688 196,214 211,902

TOTAL FUNDS CARRIED FORWARD 17,164 196,214 213,378

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 500


THE PENWITH EDUCATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accruals and deferred income 600 600

8. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 31/3/24
£    £    £   
Unrestricted funds
General fund 17,164 2,065 19,229

Restricted funds
Humphry Davy Fund 196,214 - 196,214

TOTAL FUNDS 213,378 2,065 215,443

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 3,332 (1,267 ) 2,065

TOTAL FUNDS 3,332 (1,267 ) 2,065


Comparatives for movement in funds

Net
movement At
At 1/4/22 in funds 31/3/23
£    £    £   
Unrestricted funds
General fund 15,688 1,476 17,164

Restricted funds
Humphry Davy Fund 196,214 - 196,214

TOTAL FUNDS 211,902 1,476 213,378

THE PENWITH EDUCATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 3,918 (2,442 ) 1,476

TOTAL FUNDS 3,918 (2,442 ) 1,476

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.