SPIRES ACADEMY

Charity Number: 1121018
Removed charity

Charity overview

Activities - how the charity spends its money

The charity operates as a secondary school.

Income and expenditure

Data for financial year ending 31 August 2010

Total income:
£3,341,000

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Donations and legacies £0
Charitable activities £3.25m
Other trading activities £76.00k
Investments £20.00k
Other £0

Total expenditure:
£3,492,000

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Raising funds £0
Charitable activities £3.47m
Other £0

£0 investments gains (losses)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £18.00k
Charitable expenditure £3.47m

Fundraising

No information available

Trading

No information available

Trustee payments

No information available

What, who, how, where

What the charity does:
  • Education/training
  • Arts/culture/heritage/science
  • Amateur Sport
  • Economic/community Development/employment
Who the charity helps:
  • Children/young People
  • People With Disabilities
  • People Of A Particular Ethnic Or Racial Origin
  • The General Public/mankind
How the charity helps:
  • Provides Human Resources
  • Provides Buildings/facilities/open Space
  • Provides Services
Where the charity operates:
  • Kent

Governance

Registration history:
  • 01 February 2008: Standard registration
  • 25 August 2011: Removed (Exempt charity)
Organisation type:
Charitable company
Other names:

No other names

Gift aid:
No information available
Other regulators:
No information available
Policies:
No policies declared
Land and property:
No information available

Financial history

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Financial period end date

Income / Expenditure 31/08/2008 31/08/2009 31/08/2010
Total gross income £3.76m £3.03m £3.34m
Total expenditure £2.92m £3.23m £3.49m
Income from government contracts N/A N/A N/A
Income from government grants N/A N/A N/A
Income - Donations and legacies £0 £0 £0
Income - Other trading activities £49.00k £60.00k £76.00k
Income - Charitable activities £3.67m £2.94m £3.25m
Income - Endowments £0 £0 £0
Income - Investment £45.00k £29.00k £20.00k
Income - Other £0 £0 £0
Income - Legacies £0 £0 £0
Expenditure - Charitable activities £2.92m £3.20m £3.47m
Expenditure - Raising funds N/A N/A N/A
Expenditure - Governance £6.00k £24.00k £18.00k
Expenditure - Grants institution £0 £0 £0
Expenditure - Investment management £0 £0 £0
Expenditure - Other £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/08/2008 31/08/2009 31/08/2010
Own use assets £141.00k £146.00k £125.00k
Long-term investments £0 £0 £0
Other assets £1.04m £860.00k £587.00k
Defined benefit pension scheme asset or liability -£60.00k -£169.00k -£157.00k
Total liabilities £352.00k £378.00k £227.00k

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 August 2010 16 June 2011 On Time
Accounts and TAR 31 August 2010 02 June 2011 On Time
Annual return 31 August 2009 14 June 2010 On Time
Accounts and TAR 31 August 2009 14 June 2010 On Time
Annual return 31 August 2008 18 June 2009 On Time
Accounts and TAR 31 August 2008 18 June 2009 On Time

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 10 APRIL 2007

Charitable objects

TO ADVANCE FOR THE PUBLIC BENEFIT EDUCATION IN THE UNITED KINGDOM, IN PARTICULAR BUT WITHOUT PREJUDICE TO THE GENERALITY OF THE FOREGOING BY ESTABLISHING, MAINTAINING, CARRYING ON, MANAGING AND DEVELOPING A SCHOOL OFFERING A BROAD CURRICULUM WITH A STRONG EMPHASIS ON, BUT IN NO WAY LIMITED TO PERFORMING AND VISUAL ARTS AND BUSINESS ENTERPRISE ("THE ACADEMY")

Area of benefit

The area the charity can operate in, as set out in its governing document.

UNITED KINGDOM

Linked charities

Linked charities
Linked charity 1121018-1 SPIRES ACADEMY ENDOWMENT FUND
Governing document
TRUST DEED DATED 31 MAY 2007.
Charitable objects
¶THE TRUSTEE WILL HOLD THE TRUST FUND ON THE TRUSTS DECLARED IN THIS CLAUSE 3. 3.2 SUBJECT TO CLAUSE 3.3 AND 3.4, THE TRUST FUND SHALL BE APPLIED BY THE TRUSTEE TO ASSIST IN SUPPORTING THE ACADEMY'S OBJECTS AND IN PARTICULAR, BUT WITHOUT LIMITATION, TO: 3.2.1 COUNTER THE IMPACT OF DEPRIVATION AND DISADVANTAGE ON EDUCATION; AND 3.2.2 PROMOTE EDUCATIONAL WORK WITHIN THE COMMUNITY SERVED BY THE ACADEMY (THE "OBJECTS"). 3.3 SUBJECT TO CLAUSE 6.1 THE TRUSTEE SHALL USE THE INCOME TOWARDS THE OBJECTS, PROVIDED THAT SUCH INCOME SHALL ONLY BE SPENT BY THE TRUSTEE AFTER HAVING REGARD TO ANY RELEVANT GUIDANCE ISSUED BY THE SECRETARY OF STATE FROM TIME TO TIME ON THE EXPENDITURE OF INCOME ARISING ON ENDOWMENT FUNDS AND THAT THE TRUSTEE SHALL AT LEAST ONCE A YEAR CONSIDER WHETHER THE INCOME SHOULD BE USED TOWARDS THE OBJECTS. 3.4 EXCEPT FOR THE INCOME, THE ENDOWMENT FUND MAY ONLY BE SPENT IF THE TRUSTEE HAS OBTAINED THE PRIOR WRITTEN CONSENT OF THE SECRETARY OF STATE, SUCH CONSENT NOT TO BE UNREASONABLY WITHHELD. 3.5 IN RESPECT OF ANY PARTS OF THE TRUST FUND WHICH DO NOT REPRESENT THE ENDOWMENT FUND, THE TRUSTEE SHALL USE THE INCOME AND THE CAPITAL IN PROMOTING THE OBJECTS. 3.5 THE TRUSTEE SHALL NOT ENTER INTO ANY COMMITMENTS IN RESPECT OF ANY OF THE PRINCIPAL SUM PAYABLE UNDER THIS DEED BUT NOT YET RECEIVED OR IN RESPECT OF ANY ANTICIPATED INCOME OR ON ANY OF THE PRINCIPAL SUM PAYABLE UNDER THIS DEED BUT NOT YET RECEIVED.÷
Area of benefit
KENT
Registration history
  • 01 February 2008 : Standard registration
  • 25 August 2011 : Removed