REGISTERED CHARITY NUMBER: 1042857 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 FOR THE FILMER TRUST Cox & Co. (Accollntancyl Limited Chartered Accountanis The Grdnary High Street Turvey Bedford Bedfordshire MK43 8DB
THE FILMER TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Aetivities Balance Sheet Notes to the Financial Ststernents 7 to 13 Detailed Ststernent of Financlal A¢tivities 14 to 15
THE FILMER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 The trustees present their report with the financial ststements of the charity for the year ended 31 August 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 IFRS 1021 (effective l January 20191. What We Do We sUPPOrt King's House School, its pupils and parents by working alone or in partnership with others to support education, training, accommodation, bursaries and scholarships. We do so by seeking grants and donations from third parties, and by seeking to raise funds through organised eversts and initiatives. Administrative Details Charity name: The Filmer Trust Registered charity number: 1042857 Principal address: 33 High Street, Luton, LU4 91Y Structure and Governance Trustees: Name Date of appointment Term Appolntment ended Suhalia Liaquat Christine Sillars Caroline Beach Beryl Rook David Flere Jade Pawaar Mahmood Hussain Alia Bashir Andrew Cook Alison Clark 24/5122 2814121 1/9/20 119120 119120 816117 2614114 4111113 20/11105 2814105 Term I Term I Term I Term I Term I Term 2 Term 4 Term 3 Term 6 Term 6 1014123 1014/23 1014/23 1014123 1014123 Structure: The charity is controlled by its governing document, 3 Deed of Trust dated 3110/94. as amended by deed dated 20110III, and constituted as an unincorporated trust.
New Trustees are selected with consideration of their skills, knowledge and experiences, and are appointed by resolution passed by the existing trustees. Trustees must read and understand all organisational policies, which reflect statutory and legal requirements and good practice procedures. Future Plans We have plans to- To continue its phased upgrade and renew plan for our property and building5. To step up our initiatives to attract further donations in support of these plans. Strengthen our relationship with other educational institutions. To undertake a full review of the Trust's medium to long term strategy with particular reference to the trends outlined in the 2023 Office for National Statistics Report on National Pupil projections, 2023-2030. To review the Trust's objectives in light of the projected educational landscape In the forthcoming decade. Financial review Reserves Our reserves limit is currently £5000. We aim to only have an amount of reserves that is proportionate to what is required to continue our existing operations for up to 12 months, and to respond to any urgent operattonal needs that may arise due to unexpected financial implications. Our reserves limit will be adjusted accordingly as our work progresses, and this will be reflected in our Reserves Policy. Income from any sources are principally used to further our charitable purposes and benefit those we work with. Grants and Donattons We are extremely grateful to those, the majority of whom have had a past associations with the school, for making donations during the course of the year. We have begun work on assembling digitsl database to enable us to better communicate with this constituency and plan to launch donation campaign in due course based around our Capital Development Fund. We also continue to receive grants in respect to EYFS provision from Luton Borough Council. Achievements and performance in the year Our maln objectives for 202212023 and how we performed agalnst them Our broad objectives for each year are governed by our Strategic Plan and so change little from year to year over the perlod of the plan. Objectives and measures of success and progress against it are reported annually to the Trustees. The following key objectives were identified for the year.. To liaise with the local planning authority to ascertain their views on the options we have in terms of upgrading and possibly extending our property. A series of consultations and pre-
applications were made over a period of ten months which eventually succeeded in indicating the best way forward which would meet with the planning authority's approval. These plans are being further reviewed as part of the Trust's impending review of its future strategy. To prepare a strategic plan to assess and identify the necessary repairs and upgrades that need to be made to our capital assets. This plan has now been completed and will be actioned over a period of three years, 2023-2026. To identify developments and governmental proposals in the area Early Years education policy that might impact on the Trust's input and support. This is on-going and will be completed during 2023124. Strategic Priorities for 2023 ONWARDS Our Commitment to Safeguarding The Trust has safeguarding responsibilities in the èreas in which we work. The safeguarding policy and code of conduct are supported by a range of policies and procedures to reduce the risk of harm to beneficiaries, supporters, pupils, staff and volunteers. We encourage individuals to report concerns and we recognise that there are many barriers to vulnerable people reporting abuse and we are committed to improving reporting mechanisms. If and when concerns are raised we study the circumstances with a view to understanding the causes and how we can take steps to prevent similar occurrences. Staff can report any type of harassment through a number of reporting mechanisms including a new independent whistleblowing hotline service. Dlversity and inclusion The Trust is committed to the promotion of equal opportunities, valuing and encouraging diversity and the creation of an inclusive working environment for all employees and volunteers associated with the Trust. It opposes all forms of unlawful discrimination, including discrimination on the basis of age, sex. marriage and civil partnershipi gender reassignment, race, disability. sexual orientation, religion or belief, pregnancy and maternity (the nine Protected Characteristics defined in the Equality Act 20101. Ensuring that the work environment is free of harassment and bullying and that everyone is treated with dignity and respect is an important aspect of delivering equal opportunities in employment. Risk Management Our Trustees, assisted by the senior managers in the Trust, and consultants regularly review our activities with regard to any major risks that might arise and are identifted from time to time. These will be parkncularly reviewed against the legislative, demographic and educational trends forecast for the period 2023-2030.
THE FILMER TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 REFEREIYCE AP4D ADMINISTRATIVE DETAILS Independent Examiner David A Cox BA FCCA FCA Cox & Co. (Accollniancy) Limited Charter¢d Accountants The Granary High Strtet Turvey Bedford B¢dfordshire MK43 8DB Soli¢ltors Taylor Walton 28 Alma Street Lllton Bedford5hire LUI 2PL Banker5 National Westminster Bank 81 High Street Bedford Bedfordshire MK40 IYN Approved by order of the board of trustees on 20 December 2023 and signed on its behalf by: Dr A J Cook- Trustee Page 311
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FILMER TRUST Independent ex8miner's report to the trusttts of The Filmer Trust I r¢port to the charity trustees on my examination of the accounts of The Filmer Trust (the Trnsil for the year ended 31 August 2023. RespoN5ibilities and basis of report As ihe charity rrustees of the Trust you are responsible for the preparation of the accounrs in accordance wilh the requirements of the Charities Aci 2011 I'the Act'l. I repon in respect of my examination of the Trust's accounts carried oui under Section 145 of the A¢t and in carrying tsut my examination I have followed all applicable Direciions given by the Chariry Commission under Section 145151(b) of the Act. INdepeNdent exaN]iner 5 Statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a list¢d b(Idy. l Can confimi that l am qualifi¢d to undertake the examination because l am a metnber of the Institute of Chartered Accountants in England and Wales, whtch is one of the listed bodies. I have completed my examination. I confimi thai no material matters have ¢ome to my attention in connection with the examination giving Me cause to believe ihai in any material respett.. accounting records were not kept in respeci of ihe Trust as required by Section 130 of the Aci., or the accounts do not accord with those records; or the accounts do not comply with Ihe applicable requirements concerning the forn) and content of accounts set out in the Charities (Accounts and Report5) ReLJulations 2(108 other than anv requiremeni that the accounts give a true and fair view which is noi a matter considered as pan of an independent examinaiion. I have no concerns and have come across no other matters in connection wirh the examination to which attention Should be drawn in thi5 report in order io enable a proper undersianding of the accounts to be r¢a¢hed. David A Cox BA FCCA FCA The In5tituie of Chartered Accountants in Englartd and Wales Cox & Co. {Accountan¢y) Limited Chartered A¢countantS The Granary High Street Turvey Bedford Bedfordshire MK43 8DB 20 December 2023 Page 4
THE FILMER TRUST STATFMENT OF FIANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 2023 Total funds Unrestricted fund Restricted fund Total nds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 79,031 79.031 111.500 Charit8ble a¢tivities Nursery grants 170.784 170.784 189.700 Other trading activities 2.330 85.569 87,919 Total 81,381 256,353 337,734 301.200 EXPENDITURE ON Charitable activities Nursery granis 56,822 254,776 311,598 264,649 Oih¢r 20,667 20,667 36,485 Total 77,489 254,776 332,265 301,134 NET INCOME Oth¢r re¢ognised gains/{losse5} Gains on revaluation of fIxed a55e15 3,892 1,577 5.469 66 350 Net mowemenl in funds 3,892 1.577 5,469 416 RECONCILIATION OF FUNDS Total funds brtsLtbJht forward 840.884 369,454 1.210,338 1,209.922 TOTAL FUNDS CARRIED FORWARD 844,776 371,031 1,215,807 1,210,338 The notes fomi part of these financial statements Page 5
THE FILMER TRUST BALATr4CE SHEET 31 AUC.UST 2023 2023 Total funds 2022 Total funds Unr¢stricted fund Restricted nd Notes FIXED ASSETS Intangible assets Tang?ible asseis Invesiments 50.002 953,654 138,?91 50,002 953,654 138,291 50,002 970.294 134,970 1,141.947 ,141,947 1.155,266 CURRENT ASSETS Debtors Cash ai bank 78,496 78,496 371,031 101.995 365.008 371,031 78.496 371.031 449,527 467,003 CREDITORS Amounts falling due within one year {375,6671 (375,667) (411.931) NET CURRENT ASSETS (297.171) 371,031 73,860 55,072 TOTAL ASSETS LESS CURRENT LIABILITIES 844,776 371,031 1.215,807 1.210.338 NET ASSETS 844.776 371.031 1,215,807 ,2 50.338 FUNDS Unrestricted funds Restricted funds 844,776 371,031 840,884 369,454 TOTAL FUNDS ,215,807 1,210,338 Th¢ financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2023 and were signed on its behalf by.. A J Cook- Trustee The notes forni part of these financial siaiements Page 6
THE FILMER TRUST NOTF.S TO THE FINANCIAL STATF.MF.NTS FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the chariry. which is a public benefit entity under FRS 102. have been prepared in aOrdance with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities.. Ststement of Recommend¢d Practice applicable io Charities preparing iheir accounts in accordance with ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Aci 2011. The financial statements have been prepared under the hisiorical cost onvention. with the exception of investments which are included at market value. as modified by the revaluation of certain asseis. IncoEn¢ All income is recognised in the Siatemenl of Financial Activities once the charity has entitl¢ment to the funds. It is probable that the income will be receiv¢d and the amount Can be measured reliably. Expenditure Liabilities ar¢ CognISed as expenditure as soon as there is a legal or constructive obligation committing the charity to that exp¢nditllre, it 15 probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured re1141bly. Expendilure is accounted for on an accruals basis and has been classified under headings that aggTegare all cosi related to the cateL70ry. Where costs cannot be directly attributed io particular headings they have been allocated to activities on a basi5 consistent with the use of r¢sources. Grants offered subject io conditions which hav¢ not been met at th¢ year end date are noted as a commitment but not accrued as expenditure. Goodwill Goodwill is in respect of the a¢quisition of a business in 1995 and was writt¢n off over 20 yeaTS. The written dowry) value is £nil. TAngiblt fixed assets Depreciation 15 provided at ihe following annual rates in order to write off each asset ov¢r it5 estimated useful Improvements to property Fixtures and fiiting5 20/0 on cost 15 % on reducing balance Taxation The charity 15 exempt from tax on its ¢haritable aciiviiies. Fund accounting Unrestricted funds can be used in a¢cordance with the charitable objectives at the discretion of the trust¢¢s. Restricted funds can only be used for particular resiricted purposes within the objects of the charity. R¢strictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the natur¢ and PUTpose of each fvnd is included in the note5 to the financial statements. Hire purcha$¢ and leasing eommitm¢nt$ Rentals paid under operating leases are charged to the Statement of Financial Acriviiies on a straighi line basis over the period of rhe lease. Improvements to property The revaluation on ihe improvernents to property have been taken to the statement of financial a¢tiviiies in 2016. The revaluaiion was based on a valuation for insurance purposes provided to the frnstees. Page 7 continued...
THE FILMER TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR F,NI)LD 31 AUGUST 2023 OTHER TRADING ACTIVITIES 2023 2022 Fundraising events Nursery fees 2,350 85,569 87.919 TRUSTEES, REMUNERATIOiY AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. Tru5te¢5' expenses Ther¢ were no trnstees. expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. COMPARATIVES FOR THE STA TEMENT OF FINANCIAL ACTIVITIES UnresifiLied fund Restricted fund Total fund5 INCOME AND ENDOWMENTS FROM Donations and legacies 111,500 111,500 Charitable activities Nursery granis 189,700 189,700 Total 11,500 189.700 301.200 EXPENDITURE ON Charitable activities Nursery grants 62,621 202,028 264,649 Other 36.485 36,485 Total 99,106 202.028 301,134 NET INCOMEI(EXPENDITURE) Other reeoEnised gginsI{105ses) Gains on revaluation of fixed assets 12.394 (12.3281 66 350 350 P4et movement in funds 12,744 112,328) 416 RECONCILIATION OF FUNDS Totsl fund5 brought forward 828.140 381.782 1.209.922 TOTAL FUNDS CARRIED FORWARD 840,884 369.454 1,210.338 Page 8 continued...
THE FILMER TRUST NOTES TO THE FINANCIAL STATEMENT8- continued FOR THF YEAR ENDED31 AUGUST 2023 INTANGIBLE FIXED ASSETS Patents and licences Goodwill Totals COST At I Septernber 2022 and 31 August 2023 180,000 50,002 230,002 AMORTISATION At I Septeniber ?022 and 31 August 2023 180,000 180,000 IYET BOOK VALUE At 31 August 2023 50.002 50,002 At 31 August 2022 50,002 50,002 TANGIBLE FIXED ASSETS Improvemenis io property Fixtures and fitt#$ Tota15 COST At I S¢pt¢mb¢r 2022 and 31 August 2023 1,103,963 40.016 1,143,979 DEPRECJATION Ai I September ?022 Charge for year 137,140 16.119 36.545 521 173,685 16,640 At 31 August 2023 153,259 37,066 190.325 NET BOOK VALUE At 31 August 2023 950,704 2,950 953,654 At 31 August 2022 966,823 3,471 970,294 FIXED ASSET INVESTMENTS Shares in group undertakings MARKET VALUE At I Septeinber 2022 Revaluations 134,970 3,321 At 31 August 2023 138.291 NET BOOK VALUE At 31 August 2023 138.291 At 31 August 2022 134.970 There were no invesim¢nt assets outside th¢ UK. Page 9 C4)n¢inued...
THE FILMER TRU NOTES TO THE FINANCIAL STATF.MF.NTS- eontinued FOR THE YEAR ENDF1131 AUGUST 2023 FIXED ASSET INVESTMENTS- continued Cost or valuation at 31 August 2023 is represented by- Shares in group undertakings Valuation in 2023 Cost 3,321 134,970 138,?91 The Filmer Trust holds IOOO/o of ihe shares in KHM Education Ltd. The net assets of KHM Education Ltd at 31 August 2022 were £137,941 (2020.. £134.6201. The Trustee's consider this io be fair valuation for 2023. The Filmer Trust holds 100% of the share5 in KHM Preparatory Schools Management Lid KHM Educaiion Ltd. The fair value of ihe investmeni, in the opinion of the Trustee's Is represented by the amount paid for the acquisition which is £350. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 20?3 2022 Other debtors Prepayrnents and accrued income 35,880 42,616 47.105 54,890 78,496 101,995 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Bank loans and overdrafts (see note 101 Other creditors 368,107 7.560 380.892 31.039 375.667 411,931 10. LOANS An analysis of the malurity of loans is given below= 2023 2022 Amounts falling due within one year on demand.. Bank overdrafts Bank loans Other loans 367,689 418 378,110 2,782 23,178 368,107 404.070 Page 10 niinued...
THE FILMER TRUST NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THF. YEAR ENDED 31 AUGUST 2023 ii. MOVEMENT IN FUNDS Net movement in funds At 31.8.23 At 1.9.22 Unrestricted funds General fund 840,884 3,892 844,776 Restricted funds Nursery EduLation 369,454 1.577 371,031 TOTAL FUNDS 1.210.338 5.469 1.215,807 Net rllovetnent in fund5. included in the aix)ve are as follows.. Incoming resources Resources expended Movement in funds Unre5tri¢ted funds General fund 81.381 (77.489) 3,892 Restrieted funds Nursery Education 256,353 (254,776} 1,577 TOTAL FUNDS 337,734 (332,2651 5.469 Comp#rstives for movement in funds Net movemeni in fvnds At 31.8.22 At 1.9.21 Unrestricted funds General tuiid 828,140 12,744 840,884 Restricted fund5 Nursery Educaiion 381,782 {12.328) 369,454 TOTAL FUNDS 1.209,922 416 1,210.338 Page 11 continued...
THE FILMER TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023 MOVEMENT IN FUNDS- continued Comparative net moveTnent in nds. included in the above are as follow5.' In¢oming resources Resource5 expended Gains and losses Movement in fvnds Unrestricted funds General fund 111,500 199,106) 350 12.744 Restrieted funds Nursery Education 189,700 (202,0281 {12.328) TOTAL FUNDS 301,200 {301.134) 350 416 A eurrent year 12 months and prior year 12 months ¢ombined positjon Is a5 follows.. Net movement in fvnds Ai 31.8.23 At 1.9.21 Unrestricted funds General tund 828,140 16,636 844,776 Restricted funds Nursery Education 381,782 (10,751) 371,031 TOTAL FUNDS 1.209,922 5,885 1,215,807 A current year 12 months and prior year 12 months combined nei movement in funds, in¢luded in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted fund5 General fund 192,881 1176.595) 350 16,636 Restricted funds Nursery Education 446,053 (456.8041 (10,751} TOTAL FUP4DS 638,934 (633,399) 350 5,885 Page 12 continued...
THE FILMER TRUST NOTES TO THF. FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED31 AUGUST 2023 12. RELATED PARTY DISCLOSURES The Filmer Trust ha5 paid £Nil (2022.. £49,000} in grant5 to KHM Education Ltd, a company wholly owned by The Filmer Trust. The Filmer frust has paid £254.776 (2022.. £147,515) in grants to KHM Preparatory Schools Manag¢m¢nt Ltd, a company wholly owned by The Filmer Trust. Page 13
THE FILMER TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR FNDF.D 31 AUGUST 2023 2023 2022 INCOME AND ENDOWMENTS Donation5 and lega¢ie$ Donations 79.031 111,51N) Other trading #ctivities Fundraising events Nursery fees 2,350 85,569 87,919 Charitable aetivities Granis 170,784 189,700 Total incoming resourees 337.734 30 1,200 EXPENDITURE Charttable aclivilies Grants paid out 258,606 210.902 Other Other operating leases Rent payable Write off other loans 25.885 17,960 (23,178) 35,435 1.050 20.667 Support COSts Management Rates, water & power Insurance Advert15Lng Sundries Repain & renewals Professional fees Bank charges Computer & Software lrnprovements 10 property Fixtures and fittings 4,139 8.897 182 4,039 8,226 4,499 3,493 195 15.797 21,654 395 2,328 16,119 612 16.119 521 51,907 55,499 Finance Bank interest Bank loan interest 506 213 1,228 506 1,441 Other Impairment losses for tangible fixed assets (3,321) (6.1931 This page does not fomi part of the statutory financial stsiernents Page 14
THE FILMER TRUST DETAILF.D STATF.MF.NT ()F FINANCIAL ACTIVITIES FOR THE YEAR EYDED 31 AUGUST 2023 2023 2022 Other Governance £ost5 Ac¢ountan¢y 3.900 3.0(M) Total resources expended 332.265 301.134 Net income 5.469 This page does not forni part of the statutory financial staiements Page IS