| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2024 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 | to | 7 |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST (REGISTERED NUMBER: 07982254) |
| REPORT OF THE TRUSTEES |
| for the year ended 31 August 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 August 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). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The object of the charity is to provide specialist educational opportunities for gifted children in various parts of the United Kingdom, under the brand name of Tomorrow's Achievers, in particular out-reaching to gifted children from low income families including the provision of grants to enable free attendance at the courses. |
| Significant activities |
| The charity helped support gifted children to achieve their potential, via provision of specialist masterclasses that engage them in challenging projects, that make learning fun and raises their aspirations. |
| The charity supported and fundraised for a proven programme of specialist masterclasses established for over twenty years, which offered a lifeline to gifted children and their families. |
| Following the sad loss of the campaign founder and principal driving force, the trustees considered ways to ensure the continuation of the charitable activities. To this end the charity agreed to jointly work together with the Thomas Coram Foundation for Children ("Coram"). With effect from April 2017 all of the charitable activities have been operated as a division of Coram, and the charity has granted all its funds to Coram to facilitate the operations. These grants are credited to a restricted fund within Coram. |
| Public benefit |
| All the charity's activities focus on the advancement of education in relation to gifted children, and are undertaken to further the charity's charitable purpose for the public benefit. |
| The trustees confirm that they have given due regard to the public benefit guidance published by the Charity Commission in accordance with the Charities Act 2011. |
| Grantmaking |
| Under the Articles of Association the charity can only make grants to other charities or other institutions in furtherance of its restricted objective. Grant applications are reviewed against this strict criterion before approval, and are subsequently monitored to ensure adherence to the charity's objective. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| As described above all of the charity's funds have been granted to Coram and the charity now acts as a name protection dormant company for the activities carried out by Coram. |
| FINANCIAL REVIEW |
| Reserves policy |
| At 31 August 2024 there are no reserves within the charity. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is a company limited by guarantee, as defined by the Companies Act 2006, incorporated on 8 March 2012 and registered as a charity on 19 June 2012. The charity was established under a Memorandum of Association and is governed by its Articles of Association, which also established its objects and powers. In the event of the charity being wound up members are required to contribute an amount not exceeding £10. |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST (REGISTERED NUMBER: 07982254) |
| REPORT OF THE TRUSTEES |
| for the year ended 31 August 2024 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Recruitment and appointment of new trustees |
| The trustees are appointed by ordinary resolution of the members. |
| The necessary business skills and knowledge of educational matters are well represented on the board of trustees. |
| Organisational structure |
| The charity is managed by the trustees and has no employees. |
| 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. |
| The trustees have reviewed the risks inherent with the charity and consider these have been resolved or mitigated as far as possible to assure the future of the charity. |
| In common with many charities the charity relies on donations, grants and fund raising events for its funding. The charity will not embark on projects that will absorb its reserves without due consideration and approval by the trustees. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| In accordance with the Articles of Association P M Brown retires by rotation and offers himself for re-election. |
| 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 |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST |
| STATEMENT OF FINANCIAL ACTIVITIES |
| for the year ended 31 August 2024 |
| 2024 | 2023 |
| Total | Total |
| funds | funds |
| Notes | £ | £ |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | - |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST (REGISTERED NUMBER: 07982254) |
| STATEMENT OF FINANCIAL POSITION |
| 31 August 2024 |
| 2024 | 2023 |
| Total | Total |
| funds | funds |
| Notes | £ | £ |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 6 |
| TOTAL FUNDS | - |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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. |
| 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 |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2024 |
| 1. | GENERAL INFORMATION |
| Tomorrow's Achievers Educational Trust is a charitable company in the United Kingdom, limited by guarantee.The nature of the charity's operations and principal activities are disclosed in the Report of the Trustees. |
| The financial statements are prepared in sterling which is the functional currency of the charity. |
| 2. | 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. |
| Dormant status |
| At 31 August 2024 and 31 August 2023 there are no remaining assets or liabilities at the period end and the company is currently dormant for the purposes of the Companies Act 2006. |
| Financial reporting standard 102 - reduced disclosure exemptions |
| The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
| • | the requirements of Section 7 Statement of Cash Flows; |
| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); |
| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A. |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of financial statements requires management to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. |
| 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. |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
| 3. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. |
| Key management personnel |
| The key management of the trust comprise the trustees only. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 August 2024 or 31 August 2023. |
| 4. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2024 | 2023 |
| Trustees |
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Total |
| funds |
| £ |
| NET INCOME |
| TOTAL FUNDS CARRIED FORWARD | - |
| 6. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.9.23 | in funds | 31.8.24 |
| £ | £ | £ |
| TOTAL FUNDS | - | - |
| TOMORROW'S ACHIEVERS EDUCATIONAL TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 August 2024 |
| 6. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| TOTAL FUNDS | - |
| 7. | RELATED PARTY DISCLOSURES |
| 8. | RESTRICTED FUND |
| This represents a fund the purpose of which is to assist gifted children in achieving their potential. |
| The fund arose from donations, grants and fundraising activities in response to an ongoing campaign called the Tomorrow's Achievers Appeal, launched in 1998. |
| Assets relating to the appeal are held in liquid form to ensure the continuing commitments can be met. |
| 9. | LIMITED STATUS |
| The company is limited by guarantee to the extent that each member undertakes to contribute an amount not exceeding £10 to the assets of the company in the event of a winding up while he or she is a member or within one year afterwards. |