REGISTERED CHARITY NUMBEK. 1024872 A &N <HI¢m%) Limited Arun&14ouse 21Clngs Road Haslemere Surrey OU27 2QA
WORLD TRU DREN f the Financial Stateme Pa8e Report of the Trustees I to 4 Independent Bxaminevs Report Statement of Fin8n¢iol Activities Balance Sheet Notes to th6 Financial Statsments 8 to 12 Detsiled Statement of Financial Activitles 13
KINGS W DREN Re rt f the Trustees the Year ded31 Ma 24 The Committee pi'esent their report with the fin8n¢ial statements of the charity for the year ended 31 May 2024. The tntteS have adopted th¢ provisions of Accounting and Rep)rting by Charities: sement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial RepJrtin8 Standard applicable in the UK and Republic of Ireland {FRS102) (effective l January 2015). OBJEcfivLS AND A1VITIEs Objeetlves And aim$ The principal objectives of the Charity are to promoie care, education and upbringing of children and young people in need and to relieve poverty and sickness amon8St Such children and young Feople. Historically this has been restricted to Kings Woi'ld Tntst for Children (India) those annual report can bc obtained from www.kingscthildrcn.or8 Kings World Tnjst for Children (KWTC) was founded in UK in 1994 to pmvtde Ca education and skills tr8iiiing for children who were orphaned. home1 or with physical disabilities. The Operational arm of KWTC is Kings World Trust for Cliildren (India) which manages. establishes and directs all educational projects and sclK)ols in wuthern India as agreed with KWTC in UK. The Trust opened its first Children5 Village in Chinnammaipuram in 1995 for b)th boys and 8irls. Subsequent activilies were &8 follows: 1998 - opened Boys Home in Idayangudi 1999- purthased land in Pudhur for farming and established a girls children's village 1999- started an 'outreach' programme to provide primary. secondory. skills training and college education for children and youiig people living in their own homes. 2004 - provided medical core, relicf aid and reconstruction %f)rk in coathl villages affected by the south Asian Tsunami 2005- built and opened Kings Matriculation School at Pudhur on land previously purchased for famiinsn 2014 - built and opened Kin8s CBSE School on the s8me 5i>aere campus 2018- built second phase of CBSE school doubling its previous sizc 2020 - Provided 'online' classes for all students during covid period. Tru# prnvided 8ad8ets tor those who didnl have tliem to attend'online, ¢lasse& An outreach pro.8mMe provide4 funds for books. unifonns, subsisten¢e eto ftir children wuld otheThvise have no access to education, to attend th¢ir l¢)eal schools. A basic education may give child1 X*me advantage in later life but it is no 8uai'antee of employment. Kwfc thefOre helps to fund its students into higher education or vocational training ¢0 give them the best possible chanc¢ of a bright future in thith they can provide for themselves and their families and break the Cycle of Fovety. The aim of Kings Woi'ld Trust for Children is first to provide an extensive eductttion and secondly, to providc leadership and guidance foi. disadvanLqged children and youn8 people for a sustainable fubjre. OPERATIONS IN INDIA 2024 KWTC (INDIA) owns and operat&8 Kin8s Matriculation Sch1 and Kings CBSE Sch¢)ol. Both sthools arc located on a 50-acre campus aiid share a Kindergarten, sports facilities, dining and Boarding liouses. Eath school is located on its own secure campus. CurrentIy 292 students are sludying in Kindwn, 783 siudents 8re in Matri¢ S¢hool and 871 siudents are in CBSE School. Kwfc operates a bursary pro8ramme iTthich provides free or means tested education to bright children from low income famili. Bursari at Kings School are also available for talented sports children. This bursary prngrnmnie is inclusive and available to boys and girls from any background, raee. c&stc. reli8ion or 8ender. Bursaries are funded either by Kings schools or by a'child Sponsorship progrnmml fimded by overseas donors. Kings Schools teach in English. T&mil is the second tsught langu8gc bul is the first language of the majority of students at Ki118s Schools. Special attention is paid to ArL Music, Cultural projects. extra eurrieular adiviiies and sports. All Students take part in a great many non-edUCation adivitie4 clubs and hobbies. Page I
KINGS WORID T FOR CHI rtof e Year Ended 31 Ma 2024 OBJECTIVLS AND AcfiviTIES Publie benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what aetivities the charity should undertake. Activities carried out for publtc beftefit by the Charity related to charltable Wrk projects currently carried out in Tamil Nadu stste in South India throu8h an Indian registered Aid AgencylNGO °Kings World T¢ for Children (India)" Social investments Kwfc (India) ow]s and operat&% schools. Kings Matriculation School (800 students) Ithich follows the Tamil Nadu State 'common' syllabus and Kings CBSE School {700 students) which followJ and Indiat) National syllabus. Kin&$ Matriculation School has 250/0 of sthdents who are on free iwrsaries and a numbu on means t&sied bursaries. Kings CBSE school is for fee paying students only and profits are transfeed to Kings Matric lo help support the fees of the bursary students. The two Kings Schools are ¢trlocated on a 5(kaere rural campus Volunteers Kings Schools runs a programme for volunteers from the UK and from other En81ish SakIng Countries. Volunte5 be any age frorn 18 years old. Th¢y have profe5sionaI skllls or be school leavers. TEFL qualified volunteers espe¢iaily welcome. A minimum of one month and inaxtmum of three months is the ideal volunteer time at Kings Sehools. However, KWTC doesn't get many volunle5 Frf)St covid. We are trying hard to bring volunteers from abroad. ACHIEVEMENT AND PERFORMANCE ChAritable Activities The Trustees have maintsined a steady flow of fimds to Kc {India) to supw>rt children ivho are swnsored by tlie UK Trust. The funds are used exclusively for the children sponsored by UK donors including the infrastructure and resources which are necessary to support them. There is one fijll time staff manber ond one part timc bookjteeper tho administer and manage the KWTC SnSOrship and Iwrsary programme5 in Indi& Income has been falling over the past few yeats due to the challenges of fundraisin8, the retiremenL due to age. of a number of loyal dorKJrs who are now unable to support their 4K1red children on a f¢d pension and the fail in sterling against the Indian rupee which has meant transferTed fvnds are now worth less in rupees. It has been hard to find many new child sponsors but there has been a slow stream of sp)nsor4 mostly from younger peopl< came as vOlUnteerInternS to supwjrt the Nwrk of the Indian TnLSt and schools. KVc makes ongoin8 appeals to Grdnt Making Tnts in the UK and has been sUccfi]I in attracting a number of sizeable donations for capital projects and the multiple sponsojthp of children both in KWTC Ondia) and the schools run by the Indian Trust. Cuently$ the following numbers of thildren are SFK)nsored in the Kc Outreath programme in India and in providing bursaries for children to attend Kings Schools in Indi& Outreach programme Higher Eduction Day Bursary at Kings School Boarding Bursary at Kings School Total Number of Children io 242 259 Surplus ndS are kept with hi8h street banks to enable e&sy access. Th¢ TnJste&8 recognise the need to review this policy on an annual basis and to look at other poiential opportunities whilst appmpi'iately monitoring the available fiinds and being proactive in their managemen4 to ensure the best interest of the Cl)ty.$ objectives are maintained. Page 2
KTNGS WORLD ST FOR CHILDREN ort of the Trustees for the Year En 2024 FINANCIAL REVIEW Principal funding sources The principle source of funds is donations from individuals, companies and other organisations in the United Kingdom as well as sponsorship of specifi¢ children in India. Income generated for Kings School is throu a percentage of fee paying students. Kc runs a volunteer programme in India for skilled and unskilled volunteers from overseas who support KWTC programmes and projects. Investment poliey and objeetiv¢s Surplus funds are kept with high street banks to enable easy access. Reserves policy The policy of the trustees is to build up reserves to cover sudden105s of income or an emer8ency situation. Reserves have been depleted in recent years to maintain our Charitsble progrdmmes. At the current time reserves have increased to £1 0,652 (2023 £7,722), below that thought to be prudent by the Trustees. The decision to curtail the outreach work and increase fund raising efforts ivill help to build up reserves again to the desir¢d levels. The trustees aTrn to make best use of any un$trActed funds, however, t5iey reserve the right to Tetain general reserves ii) hand until they can be used in the most efficient manner to further the objectives of the Charity. Funds in deficit During the year there was a net income of £2,930 (2023 £2,933 Net deficit). There w&8 a decrease in income during the year as it h&s been a difficult time to rdise funds. During the year £25,000 was granted from the Charity (2023 - £64,000). Th¢ trustees felt it necessary given Ihe decrease in donations and to reduce tl)e commitment to ensure that the Cbarity maintained it reserves in line with its reserves policy. Surplus ndS ar¢ kept with high street banks to enable easy access. The Trustees recognise the need to review this policy on an annual basis and to look at other potential opportunities whilst appropriately monitoring tlie available funds and being proactive in their managemenL to ensure the best interest of the Charity's objectives are maintained. ITuRE PLANS Kwfc (India} is to cease the outreach progran)me as soon as existing children complete their education. The new focus is to provide butsaries for children, from low income and disadvantaged backgrounds, to attend Kings Matrieulation S¢hool. KWTC has one of the best schools in southern India and children can really benefit from a fomial education, in English, at this school, English is one of two 'National' languages in India and fluency in En81ish is a passport to a successfijl professional career. sTrucruRE, GOVERNANCE AIYD MANAGEMENT Governing document The charity is controlled by its governing documenl a deed of trust and constitutes an unincorpordted charity. The management of th¢ Charity is the responsibility of the Trustees who are elected and COwOPted under the tern15 of the Trust d¢¢d, The Trustees have adopted the following policies and procedures for the induction and training of new Trustees". l. Ther¢ should be no less than three trustees. 2. ProsPtive Trustees need to be recommended by the existing Trustees and be over the age of eighteen and not be ineligible to act. 3. The Charity will provide sufficient training lStanCe to enable a Trustee to be well informed, conversant with current l¢gi51ation, up to date with events affecting tlie Charity 2nd its objectives. The trustees are based throughout the United Kingdom. The Trustees will discuss various matters through the year whicli affect the Charity and will when necessary hold fomal minuted Trustee5 Ineeting5. The Charity has an administrator, and uses the Page 3
UST fthe ded31 2024 services of Unpaid volunteers. The founder. C wathff OBE ho]ds the role of chalT and OpwaonS Direckn and splits IIy24872 I Stonehill Coltage Wilsons Road Headley Dow Bordon GU35 8JE Mr C Wa8stsff OBE Mr S Wagstaff Mr N Wag8taff Mrs B Mrn Ana ShaTma Bsc FCA A & N (Haslemere) Limited Aruna House 2 Kin85 Road Haslemere Su OU27 2QA The cbulty w•$ aet up under a &ed da*d 26 July 1993. •nd 8]d on its belwlf by. C Wwtsff OBE. Tn
Inde endeiit Examiner's Re ort lu Ihe Trustees of s World Trust for Children Independent examiner's repoi't to the trustees of Kintss World Trust for Cliildren I report to Il)e cliai'ity trustees on tny examination of the accounls of Kiiigs World Ti'ust for Children (the Trust) for the year cnded 31 May 2024. Responsil)ilitics and bAsis of report As the cliariiy trustees uf il)e Trust you are responsible for the preparation of the accounts in accordance witli t]ie requirenieiits of Ihc Charities Act ?01 l ('the Act,). I report in respect of my ¢xaiiiination of the Triist's accounts carried oiit linder Scclion 145 of the Act and in carryii)g out Iny examinatioii I have followed all applicable Directions given by Ihe Cliarily Coniiiiission uiider Section 145(5)(b) of tlie Ael. Indepeiident eyaminer's statement I have coinpleled my examination. I confirEn that no matcrial Inatters have come to Iny attention in eonnection witli the examination giving me cause to believe that in any maicrial respect- accounting record5 were not kept in respect of the Tnisl as required by Section 130 of the Acl. or tlie accoiinls do iiot accord with tl)ose records. or tlie accouiits do not coinply ivith the applicable requiremenÉs concerning the form and content of accounts set out in the Cliarities (Accounts and Reports) Regulalions 2008 otlier than ai)y requirement that the accounts aive a Irue and fair view which is not a matter considered as part of an independent examination. I have iio concerns and have come across no other matter5 in connection M'ith the examination to wliicli attentioii should be drawn in this report in order lo cnable a propcr underslanding of the accounts lo be reaclied. Irs Aiiiiurali Sharma Bsc FCA I"he Institute of Chartered Accountants in Ew]gland and Ivales A & N (Haslemere) Limited Aruna House 2 Kings Road Hasletnere Surrey GU27 2QA Date.. Page 5
GSWO UST FOR CHILD Statement of for tl nancial Aeti Ima 2024 31.5.24 Total funds 31.5.23 Total funds Unrestricted fund Restricted fijnd Notes tNCOME AND ENDOWMENTS FROM Donations and legacies 46,874 EXPENDrruRE ON Raising funds 344 Charltable a¢tlvities Charitable Aclivites Grants 18,944 18,944 15,935 Total NET JY4COMEI(EXPENDITURE) 2,930 2,930 (2.933) RECONaLIATION OF FUNDS Totsl fijnds brouglit forward 7,722 7,722 10,655 TOTAL FUNDS CARRIED FORWARD The notes form part of these financial statements Page 6
GSW RLD TRUST R CHILD Balance Sh 31Ma 2024 31.5.24 Total funds 31.5.23 Total fidS fund fund Notes ' CURRENT ASSETS Debtors Cash &t bank 2,067 10,485 1067 10,485 1,674 7,948 12552 11552 9.622 CREDITORS Amounts falling due wiihin one year (1.900) (1,900) (1,900) 10,652 10.652 7.722 TOTAL ASSETS LLSS CURRENT LIABILfTIES 10.652 10.652 7,722 NET ASSETS 10.652 10.652 7.722 FUNDS Unrestiicted fi]nds 10,652 7,722 TOTAL FUNDS 10.652 7.722 The financial statements were approved by the Board of Tnte oad authorised for i&8ue on .. aDd were signed on its bebalf by: agstaff-Trustec S A Wa8slaff - TThtee Tbe notes forni part of these fuwicial statemeDts
ICINGS WORLD TRUST FO DBEN Notes to the Financial Statemen for the Year En d31 2024 ACCOUNTING POLICIES Basis of preparillg the finanelal statements The financial statements of the charity, 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 ¢harities preparing their accounts iii accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reportin8 Standard 102 The Financial Reporiin8 Standard applicable in thc UK and Republic of Ireland, and the Charities Act 2011. The financial statements have be¢n prepared under the historical cost convention. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Slatement of Recommended Practice applicable to charities preparing their accouiils in a¢¢ordance with Financial Reporting Standards applicable in the UK and Republi¢ of Ireland (FRS102) (effective l January 2015), Charities SORI> FRS102. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise stated in ih¢ relevant accounting policy notes. Legfil form The Charity is an unincorporal¢d r¢8lStered Chariiy defined by its governing document. Income All income 15 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. Expcnditur¢ Liabilities are reco8nised as ¢xpenditure as soon as there is a legal or constructive obli8atioii ¢onimitting 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 Ineasured reliably. Expenditure is a¢Ullled for on an accruals basis and ha5 bcen CI81f1ed under headings that aggregate all cost related to the category. Wliere costs cannot be directly attributed to particular headin8S they have been allocated to activities on a basis consistent with the use of resources. Grants offei'ed subject to conditions which have not been in¢t at th¢ year eiid date are noted as a commitment but not accrued as expenditur Govci'nance costs Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulations and 8oTrA practice. These costs include costs related to the independent examination. legal fees and any appropriate apportionment of overheads. Taxntlon The Charity is exempt from tax on its charitsble activities. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general obje¢¢ives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance witli specific i'estridions imposed by donors which have been raised by the Charity for particular purpose5. The Gost of raising and &thninisterin8 such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the finan¢ial statements. Any investment income, gains or losses are allocated to the appropriate fimd. Pa8e 8 continued...
IcrNG ORLD UST FO otes to the inan ial Statements- co ear Ended 31 Ma 24 nue ACCOUNTING POLICIES - continued Fund Rccounting Desi8nated funds are fvnds set aside by the Trustees out of general reserves for a particular purpos¢. The aim and use of each designated fund is set out in the notes to the fInCIal stateinents. Thc Trustees will review the fisnds on an ongoing basi5. At the conclusion of the purpose for the fund any excess r¢mainin8 funds will be transferred back into general funds. If a shortfall arises the Trustees will consider whether any additional general funds should be transferred to designated funds. Any investment incomei gains or losses are allocAted to the appropriate fi)nd. Foreign currencles Monetary assets and liabilities in foreign Currencies are translated into sterling at the rate of exchange ruling at th¢ date of transaction. Exchange variances are tsken into acfX)unt in arrivin8 at the operating result. Critlcal accountlng estimates And judgemcnts In the appli¢alion of the charity's accounting policies, the trustees may be required to make assumptions, estimates and judgements about the carying values of assets and liabilffities tliat are not readily apparent from other source5. These are based on previous experience and oth¢r factors that are considered by the trustees to be relevant. Ultimately, actual results may differ from these estimat¢s. Any such estirnates and assumplions are subject to r¢view on an ongoing basis. Revisioiis to accounting estimates are recognised in the period in wliich the revision takes place where thc revision affecls only that period. or in the period of the revision and any future periods where the revision affects both current and fuiure periods, TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, r¢muneration or other benefits for the year ended 31 May 2024 nor for th¢ year ended 31 May 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023. COMPARATIVES FOR THE STATENT OF FINANCIAL ACTIVITIES Unrestricted fuiid Restricted fuiid Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raisin8 funds 344 344 Cbaritable activities Charitabl¢ Activites Grants 15,935 15,935 Total NET INCOMEI(EXPENDITURE) {2.933) (2,933) RECONCILIATION OF FUNDS Total funds brought forward 10,655 10,655 Page 9 ¢ontinued...
S WORLD TRUST FOR Notes to e Financ al Statements- continued for the ear Ended 31 Ma 2024 COMPARATIVES FOR TIiE ATEMENT OF FINANCIAL AcfivITILS- continued Unre5trirted Restricted fund fund Total funds TOTAL FUNDS CARRIED FORWARD DEBTORS: AMOUNtS FALLING DUE WITHIN ONE YEAR 31.5.24 31.5.23 Other dcbtors CREDITORS: AMouNfs FALLING DUE WITIIIN ONE YEAR 31.5.24 31.5.23 Other creditors MOVEMENT IN FifNDS Net movement in fiJnd5 At 31.5.24 At1.6.23 Unrestricted funds (3eneral fund 7,722 2,930 10,652 TOTAL FUIYDS Net movement in fjJnd8. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 46.874 (43.944) 2,930 TOTAL FUNDS 2,930 Pagc 10 continued...
S WORLD UST FOR CHILDBEN tes to the Financial Statements- for the Year ded3 202 ntinued MOVEMENf IN FUNDS - continued CompAratives for movement In funds Net movement in funds At 31.5.23 At 1.6.22 Unrestrlcted funds General fund 10,655 (2,933) 7,722 TOTAL FUM>S Comparative net inovement in funds. included in the above are as follows: Incomin8 Resources expended Movement in funds Unrestrlcted funds General fund 43,721 (46,654) (2,933) Restricted funds Restricted Fund 33.625 (33,625) TOTAL FUNDS 80 279) A current year 12 months and prior year 12 month5 combined position is as follows: N¢1 movement In funds At 31.5.24 At 1.6.22 Unrestricted funds General fund 10.655 (3) 10.652 TOTAL FUNDS 3) Pagell ¢ontinued...
KfN D TRUST FOR CHILDREN Notes to the Financial Stateinents - continu or the Year En 24 MOVEMENT tN FUNDS - contlnued A current year 12 months and prior year 12 months combined net moveinent in fvnds, included in the above ar¢ as follows: Incoming resources Resources expended Movement in funds UnrestrACted funds General fijnd 90,595 (90.598) {3) Restricted funds Restricted Fund 33,625 (33.625) TOTAL FUNDS 124220 (124 223) 3) RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 May 2024. ULTIMATE CONTROLLING PARTY The Thislees control the Charity in accordance with the trust deed. Page 12
KfNGS W USTF etailed Statement of Financial Activities for the Year Ended 31 Ma 2024 31.5.24 Total funds 31.5.23 Totsl funds Unrestrlcted funds Restricted funds tNCOME AND ENDOWMENTS DonAtions and legacie5 Child Sponsornhip Donations Gift aid 28,848 13,414 28,848 13,414 33,625 38,620 TotAI Incoming resources 46.874 46.874 77,346 EXPENDITURE ChfirltAble activltles Wagc5 Travelling Graiits to institutions 8,000 7,125 8,000 7,125 8,000 4,393 40,125 40.125 76,393 Support costs Management Office administration 2.102 FinAnee Bank charges 500 500 169 Infoi'mAtion teclinology Repairs and renewals 283 283 175 Governance costs Accountants remuneration for non audit work Total resourc expended Net (expendlture)lincome This page does not fomi part of the statutory financial statements Page 13