REGISTERED CHARITY NUMBER: 1060724
Report of the Trustees and
Financial Statements for the Year Ended 31 August 2025
for
The Royal Latin School Fund
The Royal Latin School Fund
Contents of the Financial Statements for the Year Ended 31 August 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Report of the Independent Auditors | 3 | to | 5 |
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
The Royal Latin School Fund
Report of the Trustees
for the Year Ended 31 August 2025
The trustees present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The sole objective of the trust is, 'within The Royal Latin School (RLS), to advance the education of students by providing and assisting in the provision of facilities for education of students at the school'.
Significant activities
The trust has had a successful year in terms of meeting its objectives as set out above. This is reflected in the financial statements attached with this report.
Throughout the year and in the period until the signing of this report and accounts, the trustees have had regard to the guidance issued by the Charity Commission on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In 2025 the school continued to focus on assessing the feasibility of a significant third and final phase of the 600 Campaign, a multi-use theatre. A settling-in process was also managed to allow for the changeover to a new Director of Development who started in June 2024 and a new Headteacher, who started in September 2024.
FINANCIAL REVIEW
Financial position
Income received by the School Fund again remained at a reduced level for the year, as the school is not in an active fundraising phase, at present. Donations of £6,428 (2024 - £7,038) have continued to be received from a small group of parents into the Annual Fund and £2,460 (2024 - £4,478) was received towards an initial arts facility campaign.
The trust also received £6,240 (2024 - £5,471) from the Alderman Newton Charity to support students with financial difficulties. £21,617 (2024 - £23,603) was received from The Lillingstone Trust in its continued support of the school to host a programme of free science lectures for the local community, within the Discovery Centre at RLS, sports science lectures in the Mind and Body zone of the school's ek robotics Sports Campus, in addition to supporting the sports and science outreach teams at RLS.
£6,994 (2024 - £17,053) of funds raised towards the third phase of the 600 Campaign were used to support the ongoing feasibility work being carried out on the multi-use arts facility.
As at 31 August 2025 the trust retained reserves of £53,025 (2024 - £55,254).
FUTURE PLANS
2025/2026 will see the continuation of the feasibility work for the third phase of the 600 Campaign.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Declaration of Trust was executed on 9 December 1996.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1060724
Page 1
The Royal Latin School Fund
Report of the Trustees
for the Year Ended 31 August 2025
Principal address
The Royal Latin School Chandos Road Buckingham MK18 1AX
Trustees
K Davis R L Wilson V Brown L Hayhurst-France I Chislett (appointed 1.9.24)
Auditors
NB Consulting Limited Chartered Accountants and Statutory Auditors 2 Foxglove Close Buckingham MK18 1FU
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by order of the board of trustees on 11 February 2026 and signed on its behalf by:
R L Wilson - Trustee
Page 2
Report of the Independent Auditors to the Trustees of The Royal Latin School Fund
Opinion
We have audited the financial statements of The Royal Latin School Fund (the 'charity') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 August 2025 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Page 3
Report of the Independent Auditors to the Trustees of The Royal Latin School Fund
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable Trust and reviewed the academy's documentation on their policies and procedures relating to fraud and compliance with these laws and regulations;
We enquired of management whether they are aware of any instances of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud, supported by a review of the minutes of trustee meetings;
We assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur;
Our testing considered unusual or unexpected accounting entries;
We performed analytical procedures to identify the existence of unusual transactions or events which may indicate risk of material misstatement due to fraud;
We reviewed the financial statements and tested the disclosures against supporting documentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 4
Report of the Independent Auditors to the Trustees of The Royal Latin School Fund
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
NB Consulting Limited Chartered Accountants and Statutory Auditors 2 Foxglove Close Buckingham MK18 1FU
11 February 2026
Page 5
The Royal Latin School Fund
Statement of Financial Activities
for the Year Ended 31 August 2025
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 6,428 Other trading activities 2 12,813 Investment income 3 7 Total 19,248 EXPENDITURE ON Raising funds - Charitable activities Other donations to RLS 11,775 Donations to other charities 11,466 Donations to RLS multi-use arts facility - Total 23,241 NET INCOME/(EXPENDITURE) (3,993) RECONCILIATION OF FUNDS Total funds brought forward 13,613 TOTAL FUNDS CARRIED FORWARD 9,620 |
Restricted funds £ 38,392 - - 38,392 5,240 28,007 187 3,194 36,628 1,764 41,641 43,405 |
31.8.25 Total funds £ 44,820 12,813 7 57,640 5,240 39,782 11,653 3,194 59,869 (2,229) 55,254 53,025 |
31.8.24 Total funds £ 22,416 24,458 10 46,884 67,453 45,843 9,207 17,053 139,556 (92,672) 147,926 55,254 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
The Royal Latin School Fund
Balance Sheet
31 August 2025
| 31.8.25 | 31.8.24 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| CURRENT ASSETS | ||||||
| Cash at bank | 9,620 | 44,845 | 54,465 | 56,694 | ||
| CREDITORS | ||||||
| Amounts falling due within one year | 7 | - | (1,440) | (1,440) | (1,440) | |
| NET CURRENT ASSETS | 9,620 | 43,405 | 53,025 | 55,254 | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 9,620 | 43,405 | 53,025 | 55,254 | ||
| NET ASSETS | 9,620 | 43,405 | 53,025 | 55,254 | ||
| FUNDS | 8 | |||||
| Unrestricted funds | 9,620 | 13,613 | ||||
| Restricted funds | 43,405 | 41,641 | ||||
| TOTAL FUNDS | 53,025 | 55,254 |
The financial statements were approved by the Board of Trustees and authorised for issue on 11 February 2026 and were signed on its behalf by:
R L Wilson - Trustee
The notes form part of these financial statements
Page 7
The Royal Latin School Fund
Notes to the Financial Statements for the Year Ended 31 August 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is 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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Tax reclaims on donations and gifts through Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Creditors
Short term creditors are measured at the transaction price.
continued...
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The Royal Latin School Fund
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.8.25 | 31.8.24 | |
| £ | £ | |
| Pupil Fundraising | 12,315 | 8,873 |
| 600 Campaign Fundraising | - | 15,226 |
| Other fund raising | 498 | 359 |
| 12,813 | 24,458 | |
| INVESTMENT INCOME | ||
| 31.8.25 | 31.8.24 | |
| £ | £ | |
| Deposit account interest | 7 | 10 |
3. INVESTMENT INCOME
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,038 Other trading activities 9,232 Investment income 10 Total 16,280 EXPENDITURE ON Raising funds - Charitable activities Other donations to RLS 10,050 Donations to other charities 8,068 Donations to RLS multi-use arts facility - Total 18,118 NET INCOME/(EXPENDITURE) (1,838) RECONCILIATION OF FUNDS Total funds brought forward 15,451 |
Restricted funds £ 15,378 15,226 - 30,604 67,453 35,793 1,139 17,053 121,438 (90,834) 132,475 |
Total funds £ 22,416 24,458 10 46,884 67,453 45,843 9,207 17,053 139,556 (92,672) 147,926 |
|---|---|---|
continued...
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The Royal Latin School Fund
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| £ | £ | £ | |||
| TOTAL FUNDS CARRIED FORWARD | 13,613 | 41,641 | 55,254 | ||
| 6. | AUDITORS' REMUNERATION | ||||
| Audit fees of £1,440 (2024 - £1,440) are included in expenditure on raising funds on page 6. | |||||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.8.25 | 31.8.24 | ||||
| £ | £ | ||||
| Other creditors | 1,440 | 1,440 | |||
| 8. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At | 1.9.24 | in funds | 31.8.25 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| Annual fund | 9,871 | (3,572) | 6,299 | ||
| Other funds | 3,742 | (421) | 3,321 | ||
| 13,613 | (3,993) | 9,620 | |||
| Restricted funds | |||||
| 600 Campaign | 37,787 | (4,891) | 32,896 | ||
| Other funds | 3,854 | 6,655 | 10,509 | ||
| 41,641 | 1,764 | 43,405 | |||
| TOTAL FUNDS | 55,254 | (2,229) | 53,025 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| Annual fund | 6,428 | (10,000) | (3,572) | ||
| Other funds | 12,820 | (13,241) | (421) | ||
| 19,248 | (23,241) | (3,993) | |||
| Restricted funds | |||||
| 600 Campaign | 3,543 | (8,434) | (4,891) | ||
| Other funds | 6,992 | (337) | 6,655 | ||
| Alderman Newton | 6,240 | (6,240) | - | ||
| Lillingstone Trust | 21,617 | (21,617) | - | ||
| 38,392 | (36,628) | 1,764 | |||
| TOTAL FUNDS | 57,640 | (59,869) | (2,229) |
continued...
Page 10
The Royal Latin School Fund
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds Annual fund Other funds Restricted funds 600 Campaign Other funds Lillingstone Trust TOTAL FUNDS |
At 1.9.23 £ 12,833 2,618 15,451 106,283 2,589 23,603 132,475 147,926 |
Net movement in funds £ (2,962) 1,124 (1,838) (68,496) 1,265 (23,603) (90,834) (92,672) |
At 31.8.24 £ 9,871 3,742 |
|---|---|---|---|
| 13,613 37,787 3,854 - |
|||
| 41,641 | |||
| 55,254 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds Annual fund Other funds Restricted funds 600 Campaign Other funds Alderman Newton Lillingstone Trust TOTAL FUNDS |
Incoming resources £ 7,038 9,242 16,280 19,704 5,429 5,471 - 30,604 46,884 |
Resources Movement expended in funds £ £ (10,000) (2,962) (8,118) 1,124 (18,118) (1,838) (88,200) (68,496) (4,164) 1,265 (5,471) - (23,603) (23,603) (121,438) (90,834) (139,556) (92,672) |
Resources Movement expended in funds £ £ (10,000) (2,962) (8,118) 1,124 (18,118) (1,838) (88,200) (68,496) (4,164) 1,265 (5,471) - (23,603) (23,603) (121,438) (90,834) (139,556) (92,672) |
|---|---|---|---|
| (1,838) (68,496) 1,265 - (23,603) |
|||
| (90,834) | |||
| (92,672) |
continued...
Page 11
The Royal Latin School Fund
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
9. RELATED PARTY DISCLOSURES
I Chislett trustee, is an employee and governor of RLS and V Brown trustee, is an employee of RLS. Their salaries are paid by RLS, as appropriate. The charity makes donations to RLS in accordance with its objects and terms of restricted donations. Donations to RLS totalled £42,976 (2024 - £62,896). During the year RLS made a donation of £1,083 (2024 - £nil) to the trust's 600 Campaign.
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