Charity No. 1056386 PARENT COMMUNITY ASSOCIATION OF THE AMERICAN SCHOOL IN LONDON REPORT & FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024 Parent Community Ass(￿lation of the American Sch¢)ol in London Contents For the year ended 30 June 2024 Page: Legal & Administrative detai18 Report ofthe Board 10 Independent Examiner's Report to the Trustees of Parent Communty Asso¢iation of the American School in London 11 Statement of Financial A¢t6vlles (including income and expenditure account) Balance Sheet 12 13- 16 Notes to the financial statements Parent Community As50¢iation of the American School in London Legal & administrative delails For the year ended 30 June 2024 SL7tus Established as an unincorporated association by constitutional bylaws and registered as a charity on 25 June 1996. GoverniTrg document The charity 1$ constituted under a trust deed daled 23 May 1996. Chaiity number 1056386 Registered office and 0￿rational addre55 One Waverley Place London NW8 ONP Bo8NI Members {ExÈ¢utive Committee) Abby Khatiblou Chair (term Commenced 31 August 2022} Anupama Vege Treasurer {term commenced 16 June 20231 Mary Carson Secretary (term commenced 16 June 20231 Scott Dinwiddie VP- Friends of the LibraTies IFOTL) (term comrnenced 31 August 2021) Emily Duffy VP- Booster Club (term commenced 16 June 2023) Amelia Qaragholi VP- Communications (term commenced 16 June 20231 Nadia Anderson VP- Friends of the Arts IFOTAI (tsrm commenced 16 June 20231 Erin Stenson VP- ParenVS¢hool Liaison {lerm commenced 16 June 20231 Ayesha Mustafa VP- Families Integration and Diversity (FINDI (term commenced 5 October 20231 Joiji Johnston VP- Community Events (term commenced 1 July 20241 Laura GuerTieri VP- Community Engagement (term commenced l July 20241 stefanie LawTence VP- Community Events {term commenced 31 August 2022, resigned 30 June 20241 Judy Kasper VP - Community Engagement (term commenced 31 August 2022, resigned 30 June 2024) lfigenia Dalgish Resigried 1 July 2023 Darshana Madhvoni Resigned 1 July 2023 Stephanie Gladis Resigned 1 July 2023 Sara Shahidi Resigned 1 July 2023 Parent Communlty Association of the American School in London Legal & administrative details l¢ontinued) Forthe yearended 30 June 2024 Bankers Barclays Bank PIC st John's Wood 40 Wellington Road London NW8 9TJ Independent examiner Heather Vvheelhouse BDO LLP 55 Baker Street London W1U 7EU Parent Community A$S￿latiOn of the Amerlcan School in London Report of the Board For the year endad 30 June 2024 The executive committee presents its report and the financial statements for the year ended 30 June 2024. Legal and administrative information set out on pages 1 and 2 form part of this report. Objects and Public Benefit The object of the Parent Community Association of the American School in London (PCA) is to advance the education of all skndents at the American School in London IASLI, in particular by maintaining close c(Fope¥ation bekneen parents and school on all matter5 pertaining to the education, grovth and welfare of ASL students. The PCA also seeks to foster good relationships amongst parents of current students. especially as a way to help families new to ASL andlor London integrate in Iheir new environment. For exanwle, through the FIND book club or various international societles. PCA volunteers SUPPOrt activities and events carried out for the benefit of the overall ASL ¢ommunity- These activities include staffing the booster club. running culture and county clubs, ftjndraising for various school projects, and community building activities Sike Fall Fest. The PCA also aims to support the wider Community through outreach programs and community gfants. In furthe¥ance ofthis object, the charity board members have complied wth the duty in s.4 of the Charities Act 2011 to have dLse regard lo the guidance contained in the Charity Commission's published general and relevant sub-sector guidance concerning the operation of the publi¢ benefit Tequirement under the Structure, Governance, Management, and Achievements Oryanisational AJI parents of currenly er)rolled students at ASL are members ofthe PCA and may participate in and vote at general meetings. The PCA elects board members at the spring general meeting and approves the annual budget at the fall general meeting. Any non-budgeted expendrtures in excess of £1,500 are also approved at a general meeting. The general management of the PCA is vested in the executive board, ￿1¢h consists of the board members.. The President, Treasurer, Secretary, Vice President of the Booster Glub, Vice President of Communications, Wi¢e President of Communty Service, Vice President of Friends of the Arts IFOTAI, Vice President of Family Integration Diversity (FIND), Vice Ptesident for Parentlschool Liaison, Vice President of Community Events and Vi¢e President of Friends of the Libraries IFOTL). Members of the executive board serve as trustees ofthe organisation in accordance wth the Charitles Act 2011. The execullve board, Consisting of the board members, meets once a month during the school year to discuss and approve activities and policies of the organisation. The executive board must approve all non- budgeted expenditure8. Parent Communty Association of the American School in London Report of the Board {¢ontinuedl Forthe year ended 30 Junè 2024 Chair The Chair sets the dates and agerbdas and presldes over all meetSng8 ofthe PCA and Board, COOfdinate$ the work of the other members of the Board, serves as a member of all PCA standing committees, acts as a liaison with ASL'S Board of Trustees. meets with the Head of School as required, and performs Ihese and all other duties to promote the PCA objectives. Treasurer The Treasurer is iesponsible for receiving all fvrsds of the PCA and for their safekeeping and accounting, collecting dues as determined by the Board, paying out PCA funds as authorized by the Board, presen￿ng an updated financial statement at each Board meeting and at other times as requested, presenting an annual budget at the Irsl general meeting in the fall and presenting an annual financial report al the last general meeting of the year, both to be approved by a majorty vote of the members present, and for preparing and filing annual accounts, feports, and retums as required by the Charities Act 2011. Secretary The Secretsry gives notice of each PCA meeting, records and prepares minutes of each meeting, po8ts minutes for review and seeks approval of such minutes, and is responsible for the safe-keeping of Ih minutes. The Secretary also keeps the PCA'S Gon$titution and bylaws. Booster Club The Booster Club provides volunteer and financial support for the Middle and High School athletics programs, ¥thi¢h include more than 95 ASL teams. The Booster Club provides volunteer support to the Robotics Club as well. All parents of students involved in any ASL athletics program are Booster Club members. Theie are no dues. The Booster Club raises funds through its regular activities, mainly concessions and ASL-br8nded sportswear, to provide addititsnal support to the athletics program. This support includes additional eouipment and special projects. sUppO￿ng visiting students, providing food and drink ¢on¢essions in the Farmer Family Gym and Canons Park playing fields foi horr)e sporting events, including the ISST and LSSA championships, purchasing and distributing coaches gifts as well as yearSy thank you gifts for facilities, catering, security, and housekeeping, and, finally, coordinating team parent programs and providin9 travel i¢)formation for home and vigiting fans. Robotics.. This year, the PCA also instituted a pos((ion to support the robotics program that is offered by the school. The PCA robotics representstive coordinates communication belween parents of students parti¢ipatlllg in the robotics program and the school. The representative also helps SUPPOrt the overall robotics program by Ilaising wth the parents and the school. Parent Community Association of the AmeTican School in London Roport of the Board Icontinu•d) For the year ended 30 June 2024 Communications The communicatior￿ committee enhances communication among parents, faculty, staff, administration, and trustees ol the school primarily through the school's website. The communications committee maintsins the PCA portion of the website on a Tegular basis and updates information regarding PCA activities, special events and all other school related information deemed important for the community. The Family Support Group (FSGI was bofn out of a desire to provide discreet support to families encounterlng difficult times and is contained wthin the Communications program area. The PCA has instituted a new committee to support the school's ASL robotics program. Thi5 committee is part of the PCA Communications team. The objective of this ne￿Y formed committee is lil to streamline communications behveen the roboti¢s program and the families of the students in the program and (111 provide general support to the students and facultylstaff that participate in this p¥ogram by providing meals,etc. Communty Events The Community Events committee OTganises a series of annual events to promote a sense of community throughoutthe year, such as Bingo and Quiz Nights, alongside decorating the Lower School for Halloween each fall. Most importantly, the committee also organises SCOOP and the Welcome Family Program, which provide new ASL families Mth orientation information on living in London and the UK, information on the school's operation method, and support families making the transition to London and to ASL. Community Events also oversee$ the organisation of the Auction every years. The Auction Chairs report diredy to Ihe Board each month from September until May in an Auction year. The PCA Grants Committee is under the dlrection of Community Events. This committee receives, evaluates, and grants fijnding requests for various school-ielated projects for the enrichment and betterment ofthe ASL community. In the 202>2024 school year the PCA Grants Committee awarded £12,044 {2023', £9,948) to projects beneffting all threè sections of the school. High school student groups and grades were awarded fijnding for three separate field trips for cultural events. Funds were also provided to create a secuon in the library for poetry books, and to support the creation of a new S¢ien¢e Magazine by and foT Students. In the middle and lower schools, money was granted for the betterment of communty-fo¢u$ed after school programs as well as a new system for PE classes. Commnity Engag￿￿ent We believe that being actively involved In service to others leads to a more fulfilled life. Woiking by example, the PCA Communty Engagement Committee aims to support students of all ages, in a continuing exploration of what matters in fjnding their passion and purpose in giving. We are dedicated to helping provide Service-Learning opportunities, and hope to foster the entire ASL communty in being productive and effective ¢itzens, together. The board position relie¢ts this conviction. We facilitate and coordinate volunteer opportunities wth the schools, evei-growing list of local communlty pather charities. Some ofthese opportunities include direct experience working with elders, underserved children, refvgee families, local farm animals, and more. We support these charty agencies by becoming involved in their sports, homework, arts, and socializing program5. Additionally we focus orb environmental reuse, for exaTnple, we host clothing Swaps and wnteF coat drive$, book dfives, and more. We also coordinate, twice yearly, Community SeNi¢e Days, when we help to maintain the gardens and buildings of our partners. These days typically attract over 400 ASL volunteers lo over 15 5Tte8. This gives our high school students opportunities to become leaders by coordinating the setviees and families volunteering at each site. Parent Community As$oclatlon of the American School in London Report of Ihe Board Icontinued) Forthe year ended 30 June 2024 Friends of the Arts {FOTAI This committee works ASL'S performing arts faculty to support and promote the school's musi¢, drama, dance. and visual arts. FOTA volunteer opportuniknes are varied and involve assisting with the various music and drama productions as well as vlsual art exhibitions and special projects. FOTA invites local old age pensioners to various events throughoul the year, including matinee drama performances, ond a holiday music concert at which the local ¢ommunity old age pensioners enjoy a tea and dinner. FOTA also assists visiting sludents and faculty whenever ASL hosts international middle school and high school music and drama festivals. Friends of the Libraries {FOTL) Friends of the Libra￿eS IFOTLI supports the tsyo ASL libraries.. the Mellon Library, whid) solves Middle and High School students, and the Lower School Library, which serves Lower School students. FOTL'S primary activities include coordinating the Lower School Library volunteer program to assist with shelving books in the Lower School Library, and sponsoring events to promote readirsg and the use ofthe libraiies, such as a ￿lC&Year1Y coThmunity book swap and a library board games night. FOTL also provides assistance with author events, seeks book sponsorships to add to the Libraries, collections, and directly sponsoTS bookplates to recognize departing ASL faculty and stsff. Families Integration and Diversity {FINDI FIND welcomes and supports international families as they integrate into the ASL community and it offers variety of events that support the school's mission of a global education. In particular, FIND highlights the international aspect of the ASL Community by hosting dozens of activities oentred around cultural activities, which showcase ASL'S diversity. FIND execute5 its mission through interest group and culture group events. Interest groups provide cross-cultural and cross-grade level opportunities to foster integration, btjild friendships, and enrich the school community as a whole. There are eight activity groups al put on events lor the school. Examples of such interest group$ are: book club, living well club, and global eats. FIND also has 13 cutiure groups that put-on community events and 30 county representatrves who hosl activities for County group members. In additon, FIND puts on the Global Festival, an event that Celebrates the cultural diversity of ASL. Biennially, it draws about 1,700 parents, shjdents, and faculty. It was lasl held in March 2024. Parentlschool Liaison Parenvschool Liaison includes five committees= Grade Representative Program, Paront Education Resource Commtttee, Faculty & Staff Appreciation. Senior Events and Workx. The Grade Rep Program foste¥s regular, responsive comrnunication betsveen the parents and Caregivers, and school administrators. iegarding students, collective academic and safety needs. This year, as in the past, the PCA grade representatives met regularly with the school prin¢ipals and other faculty guest speakers to communicate ¢on¢erns and initiatsves and to serve as information conduits ft>r the Pfincipals. Grade representatives 801i¢it feedbaek from parents. This committee organised parent meetlng$ (grade coffees) to connect grade level parents and carers and discuss topics of mutual interest or concern, as well as bringing everyone together at social events for parents and faculty. Through its meetings and speaker presentations. the Parent Education Resource Committee (PERC) supports parents of non-tradilional learners, including children with diagnosed and un-i*agnosed leaming differences, and paients who are simply concerned about their child's ability to llourish in an academic environment. Parnnt Communty A$so¢iation of the Amerlcan School in London Report of the Board (Continued) Forthe year ended 30 June 2024 Parentlschool Liaison (continued) Faculty and Staff Appreciation committee sponsors events throughout the year in which the PCA and parents show appreciation to ASL faculty and staff via a ¢atered lunch or homemade treats. Lastty, Parentlschool Liaison encompasses the Workx team. Workx works to develop work expellence opportunities for high school students. creates an annual database of those opportunities, and guides students through the application process. The comfflittee also helps organize CV and cover letter writing workshops for students. Plans for the FutUFE The key objective continues to be the advancement of the education of all students at the American Sehool in London IASL), in particular by maintaining dose co-operation between parents and $¢hool on all ￿latterS pertaining to the education, gro￿, and welfare of ASL students. The PCA will also continue to explore futher ways of engaging with and providing benefit to Ihe local community. Financial statement review and Results Overall, incoming resources for the year were £86,640 (2023.. £220,387). Every tsvo years The ASL Foundatioft (UK) make a grant to the charity, in the Prior year ASL granted £150.000 funding for Iwo years up until June 2025. Total charitable expenditure has increased to £149,68912023.. £120,915). Due to the timing of the ftÈnding received frorn ASL this impacted the results for the year, with the charity reporting an overall deficit of £63,049 (2023.. £99,472 surplus). Reserves policy It is the policy of the PCA to hold sufficient assets in the form of Cash to fvnd any outstanding obllgation. Decisions Concerning grant expenditure to the school are made at yeaT end and are limited to assets available after setting aside appropriate amounts for these obligations and lo ftjnd start-up costs and ongoing programmes that the PCA votes to continue for the following year. In an auction year, when PCA organizes the Auction on behalf of ASL, it usualty receives a grant of £150,000 to cover two years of PCA operatsng expenses in addition to other PCA fvndTaising efforts. The reserves held at 30 June 2024 were £317,380130 June 2023-. £380,429). The PCA aims to malntain a minimum of £150,000 in reserves at all times. Going con￿rn The board members consider the Charity to be a going concem on the basis that there is more than sufficient available cash to meet the limited annual expenditure that is incurred running the charity. The board members confirm that at the time of approving 1he fjnancial statements, there are no material uncertainties regarding the Charity's ability to continue in operational existence for Ihe next 12 months. Donatlons Income from donations, olher than parents, dues, is received by way of donations and gits and is included in fvll in the statement of financial a¢tivities when probable and ¢an be measured reliably. In accordance with the Charities SQRP IFRSI 02), general volunteer time is nol Fecognised. More information about our volunteer Contribution is explained throughout thtr Report of the Board. Parent Comunity Association of the Amerlcan School in London Report of the Board Icontinuedl Forthe year ended 30 June 2024 Risks The risks facing the PCA are mainly related to people and )Inances, and in both cases are relatively small and easily miligaled. Theie ts a risk that one of the key members of the PCA leaves their posib.on at a critical time during the year. This r¥sk is particularly related lo Auction planning and exeeution. However. the PCA Bylaws ou￿1ne the piocess of accessing volunteer replacements. Additionally, the group structure of events at ASL, and the depth and support from the parents at the school helps to alleviate this risk. Finan¢ial risk primarily involves executon of the Auction which is managed by PCA volunteers with support from the school IASLI. Specifically, if Auction proceeds are insufficient to cover the costs of preparing the Au¢tion event itself, the funding shortfall could potentially have to be bridged by ftjnds earmarked for other PCA programs. Vvhile the auction hislory at ASL would indicate that this too is a relats.vely small risk, in today's uncertain global envlronment, it is possible that an outside event le.g.. terrorist attack) could cause the Auction to be cancelled at the last minute. Should such an event occur, the PCA reserve policy would miligate the immediate financial risk. ￿thOut the bi-annual grant to the PCA after the suc¢essfiJl execution of the Auction, the PCA would be forced to curtail its programs in the following years. The next auction is scheduled to be held in March 2025. Finally, Ihere is a risk of fjnan¢ial mismanagement caused by inexperienced PCA volunteers. This risk is mitigated by the organtsational structure of the PCA and tts documented processes. The PCA executive board meets monthly. minutes are kept of all meetings, all funds dispersed must be authorised by a VP, any expense over £200 requires VP signabjres, and all reimbursements (on-line OT bank ¢hequesl must be signed by authoTlSed signatories. Recruitmtnt of Trustees Each year the Board appoints a nominating committee chair who shall form the nominating committee consisting of five to seven rnembers, all ofwhich are current membefs ofthe PCA. Al nominees shall be the parent of a currenlly enrolled ASL student, have prior experience in a parent volunteer role, and be willing to serve if elected. The election of new Board members shall take place by majority vote of members present at the last general meeting in the spring. l Board members shall Serve for one term (being one year) and may only seNe for a maximum of two consecutive terms in the same position. The Presideni and the Treasurer shall setve for a term which shall be defined as two fiscal years and may serve for a maximum of one consecuttve term in the same position. In no event shall any Board member serve more than four consecutive ter￿￿ on the Board. Exceptions to thtr Term Limil Policy cars be made, in extraordinary ¢ir¢umstances, upon the recommendation ofthe President, Secretary, and Treasurer and a super-majority (defined as greater than Iwo-thirds of the PCA Executive Board membership) vole of the Board.. Trnstee's IndemTrities The Charity's insurer8 Indemnify against daims in respect of any civil liability and which arises out of the conduct of the insured in their personal capacity as a Board Member. The board members are considered to be the key management personnel of the Charty. During the year no board member received any remuneration in relation to services performed for the Charsty. Parent Community Association of the American School in L¢)ndon Report of the Board {continuedl Forthe year ended 30 June 2024 Responsibilities of the Truslees The executive committee are responsible for preparing the executive committee's Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year in accordance th United lfjngdom Generally Accepted Accounting Practice {United Kingdom Accounting Standards and applicable lawl. Under Charity law, the Trustees must not approve the financial ststements unless they are satisfjed thatthey give a true and fair view of the state of affairs of the ¢harty and of the incoming resources and application of resources, including the income an(1 expendibjre, of the charity for that pefiod. In preparing these financial ststements, the Trustees are required to-. select suitable accounting poli￿eS and then apply them consistenuy., make judgements and esllmates that are reasonable and prudent- stste whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fjnan¢ial statements., and prepare the financial ststements on the going ¢oncem basis unless it is inappropriate to presume that the ¢ha¥ity will continue In operation. The Trustees are responsible for keeping adequate accounting re¢ords that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure thatthe financial statements comply ¥Mth the Charities Act 2011. They are also responsible for safeguaiding the assets of the ¢harity and hence for taking reasonable steps for the preventson and detecb.on of fratjd and other irregularities. Members of the executivè committee Members of the executive committee (i.e., board members) are shown on page 1. Members of the exe¢uts"ve committee have no beneficial interest In ihe chartty. Approved by the executive committee on and signed on its behalf by Mc(d41 Opril 28, go?s Abby Khatiblou, PCA Chair Indep¢nd•nt Examinevs Report to the Board Members of Parent Comunity Associalion of the American School in London For the year ended 30 June 2024 I report to the trustees on my examination of the accounts of the Parenl Community Association of the American School in London for the year ended 30 June 2024, which are set out on pages 11 to 16. This report is made solely to the charity's trustees, as a body, in accordance with Regulatlon 31 of the Charilies (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the ¢harity's trustees those matters l am required to stale to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assu￿& responsibility to anyone other than the d)arity'$ trustees as a ts0￿, for my work, for this Teport, or for the statemenl I have made. Responsibilities and basis for rgport As the trustees of the charity you are responsible for the prepaTation of the accounts In accordance with the requirements of the Charities Act 2011 Ilhe Act.). I report in respect of my examination of the ¢harity's accounts carried out under section 145 of the A¢$ and in carrying out my examination I have followed all the applicable Directions given by Ihe Charity Cownmission under secllon 145{5)(bl of the Act. Indopondent examiner's statement I have completed my examination. I confirm that no matsrial matters have come to my attention in connèction with the examination givlng me cause to believe that in any malerial respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act. or the accounts do not accord th those records., or 3. the accounts do not comply with the accounting requirements concerning the form and content of the accounts set out in the Chartiles (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination., or 4. the a¢cotJnts have Not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accounting and report4ng by charities (applicable to charities preparing their 8ceounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 10211. I have no Concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Heather Wheelhouse ACA BDO LLP London DocuS&fi•d by.. DA15AED75D49153 Date= 29 April 2025 BDO LLP is a limrted Ilabilty partnership registered in England and Wales Iwth registered number OC305127). 10 Porent Community Assttlation of the American School in London Statsment of Financial Activities Forthe year ended 30 June 2024 2024 2023 Note Income from.. Donations andleg8CI&S Parent Oues ASL Grant othertrading activrtie5 Booster club conce$&on$ Income frorn fvndrai5ing events Auction income Investments Interest income Unrestrfcted Unrestvlcted 15.675 17.508 150.000 27,991 40,370 14,255 4,477 33,082 2,604 1.065 Total 86,640 220,387 Expendlture Ralslng lunds Booster Club Fundraising expendittjre 11,453 34,092 2,045 33,365 45,545 35,410 Charltablg o¥pendllure Activitie5 to ad¥6nce the educ8tion of th8 ASL studeftts Mini grant5 Ccmmunity service grants Cornmunity serviGe- Dther Families Integration and Diversity comrnunicab.on Parentlschool liaison Booster ¢lub Friend5 of the Art5 Friends of the Maths Teachers Friends of the Libraries structure. govemanGe, 8nd menagement expendfffrure Management and adrninistrab.on Governan¢8 ¢0$ts 8,444 12,044 27,392 4,006 945 17,571 6,709 5,436 226 896 7.941 9.948 12,719 4,402 2,369 17,808 7,895 3,379 10,011 10,464 8,802 10,242 Total 149,689 120,915 Net {expendlturell Income 163.0491 99,472 Net movement In funds 163.049} 99,472 Reconclllatlon of Mn¢Js Funds at 1 July 380,429 280,957 Funds at 30 June 317,380 380,429 A11 of the above results are derived frorn conb"nuing a¢tivities. Ther8 W8r8 no olher recognised gains or k)sses other than those stated 8bove. All income and exp8nditure Is unrestricted. The notes on pages 13 ta 16 forrn part eythese financi818t8ternents. Parent Community Association ol the American School in London Balance Sheel At 30 June 2024 2024 2024 2023 2023 Current asset5 Cash at bank and In hand 350,465 387,905 350,465 387,905 CredÉtors'. amounts falling due thin one year 133,0851 17,476> Net ¢urrent assets 317,380 380.429 Total assets le$$ current liabilitiès 317,380 380,429 Net assets 317,380 380,429 Funds Unrestricted fijnds 317,380 380,429 Total unrestricted funds 317,380 380,429 Approved by the executive committee on WIZE,20 d signed on its behalf by Abby Khatiblou PCA ChaiT The notes on pag￿ 13 to 16 form part ofth8se financial statements. 12 Pamt Community Association of the American School in London Notes to tho financial statements For the year ended 30 June 2024 A¢¢ounting Policies The piincipal accounting policies adopted, judgements and key sources of estimation uncertalnty in the preparation Of the ffinancial statements are as follows.. al Basis of pweparation.. Parent Communty Association of the American School In London is a registered Charity with registration number 1056386 registered in England and Wales. The address of its registered office is One Waverley Place, London, NW8 ONP. The financial statements have been prepared in £ Sterling and are rounded to the neaTest pound. The financial statements have been prepared on a going concern basis under thg historical cost convention. The financial statements have been prepared in accordance wth the Statement of Recommended Practice.. Ac¢oLtnting and Reporting by Charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The fjnancial statements have been prepared to give a'lrue and fair, view and have departed from the Charities {Ac¢ounls and Reports) Regulations 2008 only to the extenl required to provide a 'true and fair, view. This depathre has involved followng Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 1021 issued on 1 January 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effeclFve from 1 April 2005 which ha$ since been withdrawn. The board members have prepgred these accounts on the going Concern basis. They believe there are no material uncertainties about the entity's ability to Continue as a goin9 concern. The members, having reviewed current performance and forecasts, have a reasonable expectation that the Charity has adequate resources to meet liabilities as they fall due for at least the next 12 months following the sign off date. The charity is a Public Benefjt Entity as defined by FRS 102. b) Income.. Donations and lega¢ies, olhef than parents, dues, are included in full in the ststement of financial a￿1VItieS when there is evidence of ent￿eMent, receipt is probable and the amount can be measured reliably. Volunteer time not included in the financial statements. PCA volunteers support adivities and events carried out for thts benefit of the overall ASL communty. This SLEPPOrt in¢lud&s volunteering their time for activities such as staffing the booster club, community building activities like Fall Fest. running culture and county clubs, and fundraising for various school projects. Voluntary parents, dues are accounted for when recelved by the American School in London. Income arising from an event are accounted for in the year the event took place. Income from extemal grants is recognised in the ststement of financial activities as soon as it is receivable. Gifts in kind are valued on the basis of Executive Committee estimates within the appropriate heading in the statement of financial activities. Parwt Comunity A$so¢iation of the Amerfcan School ￿ London Notes to the financial S￿￿9mentS {continued) Forthe year ended 30 June 2024 Ac￿UntIng Policies {Continued) bl Income {continued)'. Interest income is recognised in the statement tsf financial aetivities when the amount receivablo Can be measured reliably. Expendtture.. Expenditure is recognised on an accruals basis. inclusive of any VAT which cannot be re￿vered. They are recognised when there is a legal or constructive obligation to pay for expenditure. Expendituie on raising funds relates speciffically to auction costs, costs of other fundraising events, and meeting and events costs. Management and administration costs include the management of the charity's assets, organisation management, and Compliance with ¢onstltutional and statutory requirements. Gifts payable to ASL and grants are accounted for when the liability is created. dl Foreign currencies.. Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign curren¢les are translated at the rate of ex¢hange prevailing at the year end. Reserves.. Unrestrl￿ed funds are donations, grants, and other income rec&ived or guaranteed to be used for the Charitable purposès as the trustees think rrt. Financial ir¢struments'. Financial instruments are recr)gni$ed in the Statement of Financial Position when the charity becon7es party to the contractual provisions of the instrument. The charity only enters into basic financial instruments. which are initially measured at transaction price. Financial assets are dere¢ognised when the Contractual rights to the cash ffows from the asset expire. Financial liabilities are dere¢ognised only once the liability has been extinguished through discharge, cancellation, or expiry. g) Accounting estimates and judgements-. In the application of the charity's accounting policies, the board members are required to make Judgements, estimates, and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associaled assumptions are based on historical experSence and olher factors that are Considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. R&vislon8 to accounting esb"mates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and fvbjre periods. On the date of appToval of the financial statements, there are no indicatiorls to imply that material changes to ftjndamental assumptions and estimates are necessary. No judgements, estimates, or assumptions have been made about the carrying amounts of assets and liabilf(ies in the fmancial statements. 14 Parent CoTrxnunily Association of the American School In London Notes to the financial statements Iwntinuedl Forthe yearended 30 June 2024 Nel IEKpendiiure) I Income for the year This is ststed after ¢harging'. 2024 2023 Amounts payable to independent examiner.. Accountancy fee Independent examiner's fees 3,276 4,284 2,457 3,591 Staff costs The trustees are considered to be key management. They received no Temuneration for their work {2023. £nill. Payments of £22,196 12023.. £8,559) werè made to reimburse 11 12023.. 71 trustees for out-of- pocket expenses inCu￿ed on behalf of the Charity. The charity had no employees who Teceived employee benefits of more than £60,00012023'. nill. Taxation The charlty is exempt from tax on income and gains falling within se¢tion 505 ofthe Taxes Act 1988 oi section 256 of the Taxation of Chargeable Gains Act 1992 to the extent Ihat these are applied lo its charitable objects. Craditors: amounts falling due within one year 2024 2023 Accruals Other creditors Amounts due to related parties 7.658 6,048 1,428 25,527 33,085 7,476 Grant commitments As al 30 June 2024 the charity had open grants amounting to £nil {2023'. £nil) carried forward to the s¢hool year 202412025 a$ a result of applicants having one year from the date of the grant tts Use the fvnds granted. 15 Parent Communty Association of the Amèrron School in London Notes to the financial statements Icontinuad) For the year ended 30 June 2024 Movement in funds At 1 July 2023 At 30 June 2024 Income Expenditure TransfÈrs Unrestri¢led funds 380,429 86.640 (149,689) 317,380 Total 380.429 86,640 1149.689) 317,380 At 1 July 2022 At 30 Junè 2023 Income Expènditur• Transfers Unrestricted funds 280.957 220,387 1120,91 S) 380,429 Totsl 280,957 220,387 1120.9151 380,429 Relaled party transactions The American School in London Iwhich is run by the charity The American School in London Educational Trust Limited, Charity Number.. 3127381 is closely connected to the Parent Community Association of the American School in London as the charitable objectives of this charity are to advance the education of all students at the American School in London. During the yea¥ the American School In London made purchases on behalfof PCA of£30,02212023'. £nill and collected in¢ome on behalf of the charity of £4,495, 12023.. £nill all of which have been fvlly setded to the charity. At the year end The American S¢hool in London was owed £25,52712023.. £nill. The American School in London Foundation IUKI (Charity Number.. 1086037) is a registeied charity and raises fi&nds for the support of the American School in London, as well as being part of the same Group as The Amefican School in London Educational Trust Limited. The American School in London Foundation IUKI granted £nil in June 202412023.. £150,000) to the PCA from the proceeds ofthe Auction to fund PCA for two years up until June 2025. In addition, PCA incurred expenditure of£nil {2023-. £33.365) during the year in relation to the auction, ofwhich £nil was reimbursed by the ASL12023.' £33,081). 16