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← Highworth Grammar School Trust, School Fund

2024-07-31-accounts

HIGHWORTH GRAMMAR SCHOOL TRUST. SCHOOL FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Registered Charity No. 1076273

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND CONTENTS Page No Legal and Administrative Details Trustees Reporl Independent Examinerfs Report Statement of Financial Activities Balance Sheet Cashflow stalement Notes to the Accounts 9-12

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND LEGAL AND ADMINISTRATIVE DETAILS Charity Name High￿￿rth Grammar School Trust, School Fund Registered Number 1076273 Trustees Mr Amer l<halil (Chairman) Mr Ivor Duffy Mis5 Karen Britton Mrs Rachael Dray Mr Duncan Beer Mrs Lynn Wilson Principal Address Highworth Grammar School Maidstone Road Ashford Kenl TN24 8UD Independent Examiner S Jennings FCA Azets Audil Services 5th Floor Ashford Commercial Quarter 1 Dover Place Ashford Kent TN23 1FB Bankers National Westminster Bank PIC 20 High Street Ashford Kenl TN24 8SH

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND ANNUAL TRUSTEES REPORT FOR THE YEAR ENDED 31 JUL Y 2024 Thg. thistg.g.q prg..qg.nt thg.ir rg.pnrt and fin2nr.i21 %t2tp.mp.ntq nf thp. phArity fnr thp. yp.Ar p.ndAd 21 .liily ?0?4 The. Inislees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Ghartties" {FRS 102) in preparing the annual rewn and financial siaEmenis OT Ihe chanty- The financial statements have been prepared in accordance wtth the accounting policies set out in note5 to the accounts 2nd comply with the charitys goveming document. the Chartties Acl 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Objectives and activities The objects for which the school fund ig established are= To advance the education of Highworth Grammar School by providing or asslsting in the provision of educational, recreational and other charitable facilities in augmentation of such facilities financed by the Department for Education. Public Benefit Statement The trustees confirm that they have referred to the guidan￿ contsined in the Charity Commission's general guidance on public benefit when reviewlng the Trust's aims and objeclives and in planning ftjture activities. Achlevements and perforniance in the year The school ftjnd account continues to be primarily a holding account for student's payments for trips. purchasing and activities but also indudes parental donations on which gift aid is claimed. The general school fund is used for enrichments activities, coach hire to competitions and matches. membership to clubs and societies. and various school reSoUr￿s. In 2023-24 the SGhool supported Pilgrims Hospi￿, FND Hupe (Fuiiutiuiicjl NvuruluyiLdl DibDider) CRY (Cardiac Risk in the Young), Demelza. Endometriosis UK, ARC IAnlenalal Results and Choices). Various other events took place during the year to raise money for dtfferent good causes, which are initiated. promoted and org2nised by students., Alzheimer's Association from the music department holdiru a carol Servi￿ in London.. RSPC frotn Eco club to Ashford cattery., and donation to 8 Sensor Bus promoted by 6th fomi students. The total raised from all of these events was £12,045. Significant actlvltles during the year included= The Art departmenl took Year 7's to Harry Potter StiJdi()* and Hnwlp.fl8 Znn. Sixth fnmi gtiidp.nts We￿ taken to the National Portrait Gallery. Year 10's went to Dungcnc-- LighthOU￿c and Dymchurch RaiNYay & Tete Britain. Year 9,3 also went to Dungeness Lighthouse and DyTnchurch Rai￿aY on a separate trip. Computer Science department look 6th fomiers to a virtual recreation venue in Ashford and again took Year 10's latar in thè yaar. Y82r 13.8 went to the National Computer Museum in Birmingham. Dail￿ dey<iiliTieiil luuk 6111 furiTI sludenls lo attend Jasmin Varolimon studios to see Allce In Wonderland and Ihe Marlowe theatre to see Edward Scissorhands. They also went to Rambert Workshop and to the Michael Jackson MLisical in London_ Yéar g studentg attended Jasmin Vardimon studios to see H.O.hA.E. Drama department jointty produced the production Chicago wilh the music department. They also attended the performan￿ ot I he Ucean at the end of Ihe lane. in London with Years 11 & 13. They also look 6th fomiers to see Mar.hinAI at Thp. nkl Vie. in l ondon_ Geography department took Year 12's on their annual trip to BlenGéthra, in the Lake District. Yeclls 10 & 12 Iu Naples. Year 7's weni on the annual m"p to Wye Downs History department took Year 9's to the Imperial W2r Museum in London while Year 12's wenl trj Berlin. MFL department took Year 8 3tudents to french Xmas markets in Luille. The Spanish depatlnieiit put Vll pli1y Ubllly external company Onatkn Productions, for Year 8.9 & 10. The German department took Year 8's to Coloqne's Christmas market. Years 10 & 12 were taken to Rheinland. Joint trip belween the art department & Spanish departrnent took Ycar 12 to Madrid whil¢ Ycar Q went to Seville. The iown ￿InnIng trip place at DAD Munstereifel with Years 10, 11 & 12 taking part in the trip. Music department jointly produced the show Chicago thp. dra￿￿ dp.partmp.nt. Thp.y held a carol service in Trafalg2r Squ2r& and Covent Gardens in aid of Alzhcmicrfs Society. 6th fomi went to Le3 Misérables on a joint trip willi Ilie drdlll¢l dep<qrlrnenl. They also held Ihe annual events such as Sprtng Gon￿rt, Hijac's, Bandstand and Year I Enrichment eveninqs.

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND ANNUAL TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY2024 signlflcant activities during ihe year included.. Full schnal {p.xr.l Ypar 7'.gl w9.nt nn thp. AnniJAI trip to the. Panto at the hAadowe Theatre in Canterbury in December_ Psychology Department look Year 12 's to Folkestone to see Serial Killer Next Door and to Howletts Zoo. UCAS trip to Excel to Create Your own Future, event in London for Year 12. DofE Bronze & Silver- Years 9 & 10 respectively, took part in this event in the summer. Media Studies Took Year 13's to Brilish Film InslitLrte IBFI) in Londo Culture Events - Both the Asian & Afro Caribbean societies held a couple of culture evenings. PE department took Year 7 to a Hockey event in Blackpool Financial review Income for the year amounted to £499,123 (2023= £467,351). Expenditure amounted to £511,855 (2023: £493,851). As a result of these movements, net funds have decreased by £12.732 {2023 decrease". £26,500) and total £94,959 at 31 July 202412023. £107.691)- Reserves policy Al 31 July 2024 general funds amounted to £40,911 (2023= £71.930)- The Irustees believe that holding an average of month's budgeted expenditure, which amounts to £85.000 {2023= £82.000) is reasonable as ftsnds are required to pay for certain costs in advance in respect of residential and day trips before the associated income is received from the students. At 31 July 2024 designated funds amounted to £54,048 {2023: £35,761) and further delails are given in note 7. Pay policyfor key management personnel The ti"ustees Gonipi"ise tlie key maiiageiiient persoiinel of tlie chai ity ii) cliarge of directiiig aiid wiitiulliiiy, iuiiiiiiiy and operating the charity on a day to day basis. All trustees give of their time freely and trustee received remuneration in the year. Risk management The trustees have examined the major strategic. business and operational risks which the charity faces and confirm that systems have been established to enable the charity to lessen or mitigale those risks. Variou8 risks have been as8e8sed to ensure that they do not impact upon the school's ability to offer enriGhment aciiviiies together wth interesting trtps to support Ihe cumculum for Ihe studenls. The major nsk is Ihe ability of parents lo continue to pay for students lo attend organised visits. Funds have been allocated in the school budget to allow the academy to offer help to parents who are suffering hardship. Going Concern The financial statements have been DreDared on a going concem basis as the Trustees believes thal no material uncertainties exist. The Trustees has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising Ihese financial statements. The budgeted income and expendilure is sufficient with the level of reserves for the charity to be able to continue as a going concem. Plans fortha futur8 The plans for the future are lo make provision lo ensure that it is possible to arrange ongoing activities to enrich the school life of the students. School fund is an extremely valuable volunfary conlribulion which funds many extra- curricular student related re3ource3 and actimtiea that add to the quality of SGhool lrfe, which othewsc would bc dilTicult lo provide. Families wll continue to be en￿Uraged to conlribule as all sludents benefit during their time at Highworth Grammar School through the enrichment activÈties offered.

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND

ANNUAL TRUSTEES REPORT

FOR THE YEAR ENDED 31 JULY 2024

Structure

The charity which is registered with the Charity Commission under number 1076273, is established under a Trust Deed dated 26 November 1998.

Governance and management

During the year the following were Trustees of the charity:

Mr Amer Khalil (Chairman) Mr Ivor Duffy (appointed 3 July 2024) Mrs Lynn Wilson Miss Karen Britton Mrs Visalakshi Brahmandam (resigned 28 October 2024) Mrs Rachael Dray Mr Daniel Valentine (resigned 31 August 2024) Mr Duncan Beer

The governing document does not specifically contain details as to the minimum or maximum number of trustees. In addition, it does not specify as to how these trustees shall be appointed.

Governance and management

The governing document allows the day-to-day management to be delegated to the head teacher of the school or other such persons as the trustees think fit, provided that all acts and proceedings of such persons be reported to the trustees.

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (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.

By Order of the Board

………………………………………………………………… I Duffy

Date: 20 March 2025

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report to the trustees on my examination of the accounts of the Highworth Grammar School Trust, School Fund for the year ended 31 July 2024 as set out on pages 6 to 12.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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.

………………………………….

S Jennings FCA

For and on behalf of Azets Audit Services

Ashford Commercial Quarter 5th Floor

1 Dover Place Ashford Kent TN23 1FB

Date: 26 March 2025

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 Unrestricted Funds 2024 2023 Note Income from: Donations 18.268 11,951 Raising funds 18,486 21,776 Charitable activities 458,865 432,058 Investment income 3,504 1,566 Total income 499,123 467,351 Expenditure on: Charltable actlvltles 511.855 493,851 Total expenditure 511,855 493,851 Net movement in funds (12.7321 (26,500) Reconciliatlon of funds: Fund balances brought foNard at 1 August 2023 107,691 134,191 Fund balances carried forward at 31 July 2024 94,959 107,691 All income and expenditure in 2024 was derived from unrestricted income.

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND

BALANCE SHEET AS AT 31 JULY 2024

Note
CURRENT ASSETS
Stock
Debtors
5
Cash at bank and in hand
Creditors: amounts falling due within one year
6
Net current assets
NET ASSETS
INCOME FUNDS
Unrestricted funds
General funds
Designated funds
7
8		 £
£
4,197
70,813
154,047
229,057
134,098
94,959
94,959
40,911
54,048
94,959
2024		 £
£
1,564
19,323
144,055
164,942
57,251
107,691
107,691
71,930
35,761
107,691
2023

The financial statements were approved and authorised for issue by the Committee of Trustees on 20 March 2025 and signed on its behalf by:

……………………………………………

I Duffy Trustee

HIGHWORTH GRAIAMAR SCHOOL TRUST. SCHOOL FUND CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JUL Y 2024 Note 2024 2023 Cash flow from operating activities 6.488 173,539) Cash flow from investing aclivities Investment Income 3,504 1,566 Net cash flow from investing activities 3,504 1.566 Net increase l (decrease) in cash and cash equivalents 9,992 (71.973) Cash and cash equivalents at 1 August 2023 144,055 216,028 Cash and cash equivalents at 31 July 2024 154,047 144,055 Cash and cash equivalents consists of: Cash at bank and in hand Cash and cash equivalents at 31 July 2024 154,047 154,047 144,055 144,055

HIGHWORTH GRAMMAR SCHOOL TRUST. SCHOOL FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY2024 1 Accounting pollcies 1.1 Basis of preparation Highworth Grarnmar School Trust, School Fund is a registered charitywith Ihe Charity Commission in England and Wales. The address of the registered office is given in the charrty informalion on page 1 of these financial statements. The nature of the charitys operdtions and principal activities 'is to advanGe the education of the sludeiitb Highworth Grarnrnar School for GINS by provlolng or assisting in rhe provision of educalional, recreational and other charitable facilities in aUgmentsI￿n of such facilities financ￿1 by the Department for Education.. The charity conslilules a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Ststement of Recommended Practice applicabte lo chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Irelarbd IFRS 102), the Charitres Act 2011 and UK Generally Accepted Accounting Practice. The financial staleThenls are prepared on a going concem basls under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency oftha charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consislentiy applied to all years presented unless otherwise stated. 1.2 Funds Unre8tricted income funds Gompri3e those funds which the truslee5 are free to Use for aiiy purpose iii fuilli¢iilll of the charitable objeclives. Unrestricted funds include designated fvnds where the trustees. at their discretion, have created a fund for a specific purpose. Designated funds represent funds invested in specific projects. The designated fund balance has been rttpreseriled to ensu￿ thal fund balance slaled accuratety reflects the designatlon pollcy adopted by the Trustees. 1.3 Income recognition All income is included in Ihe Statement of Finanual Aclivities (SOFA) when the charity is legalw entitled to the income after any perrormance conditions have been met. the amount can be measured reliably and tt is probable th21 the income will be received. Voluntary income including donations and gifts is included in Ihe Statement of Financial Activities when receivable. Income is mainly for school vistts and day trips which are accounted for in the period in which the p or visit takes place. 1.4 Expenditure recognition All expenditure 15 aGGounted for on an a￿[ual5 basis aiid liÈ￿& i5￿11 LlÈJbbifi¢d liecirjirigb Ilidl dggregale all costs related to the G4legory. Expendilure is recognised where there is a legal or constructive obligation to make payments to third partièg, it ig probable that the settlemenl will be required 2nd the 2mount of the obligation can ba measured reliably. It is categorised under the following headings: Losts of generating tunds are those costs incurred in attracting voluntary income. Charitable expenditure cfjmpriseg those costs inCu￿ed by the charity in Ihe delivery of its activities and se￿FCes for tts beneficiaries. It includes both costs allocated directly to such activtttes and Ihose costs ot an indirect nature necessary to support them. Govemance costs include those inCu￿ed in the govemance of the charity and 2re primarity av4Jocialcd with con*Jtitutional and statutory requirements. 1.5 Stock Stock is included 2t the lower of cost and net rèaltsable value.

HIGHWORTH GRAMMAR SCHOOL TRUST. SCHOOL FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JUL Y 2024 1 AGcounting policie3 1.6 Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rale and receivable or payable within one year are recorded at transaction price. Any losses arising fmm impaim*nt are recognised in expenditure. 1.7 Tax The charity is an exempt charty within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 1.8 Going concern The financial statements have been prepared on a going concem basis as the Trustees believes that no material uncertainties exist. The Trustees has considered the tevel of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concem. 1.9 Judgements and key sources of estimation uncertainty Accounling estimates and judgements are continually evaluated and are based on histortcal experience and other factors, including expectations of future evenls that are believed to be reasonable under the Gircumstances. There are no judgements or key sources of estimation uncertainty- 2 Income 2024 2023 Generated funds Fundraising 18,486 18,486 21,776 21,776 Charitable activities School visits Activities Income from school shops elc. Other income 256,180 68,210 47,429 240,505 73,161 41,538 49?,048 Expenditure 2024 Total 2023 Total Direct Costs Support costs Charitable activities Fundraising School visits Ablivilie Purchases athp.r 37.769 261.869 57.423 38,777 113.791 509,629 37.769 261.869 57,423 38,777 113.791 509.629 46.517 242,440 75,610 42,910 84,274 491,751 Governance costs Independent examinerfs fee 2.226 2,226 2,226 511.855 2.100 493,851 509.629 The above expenditure includes £118,425 (2023: £99.061) paid as a donakn'on to Highworth Grammar School. -10-

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JUL Y2024 4 Staff costs and Trustee remuneration During the year, the chartty had no employees (2023: None). No trustee received remuneration or reimbursement of expenses during the year {2023: None). Debtots 2024 2023 Prepayrnents and accrued income Other debtors 9.958 60,855 70,813 4.538 14.785 19,323 6 Creditors". amounts falling due within one year 2024 2023 Creditors Deferred income Accruals 21.168 110.704 2,226 134,098 19,209 35,942 2,100 57.251 7 Designated funds -2024 Asat1 New August 2023 Designallons Designation Released As at31 July 2024 Fundraising School visits Activilies Purchases Other 11.663 8.051 13.286 626 2.135 35.761 14,138 5,440 28.865 665 4.940 54.048 (11,663) (8,051) (13,286) (6261 2,135 35.761 14,138 5.440 28,865 665 4,940 54,048 Designated funds - 2023 Asat1 New August 2022 Designations Designatlon Released As at 31 July 2023 Fundraising School visits Activities Purchases other 17,760 10,446 13,512 621 4,274 46,613 11.663 8.051 13.286 626 2.135 35.761 (17,760) (10,446} (13.5121 (621) 4.274 (46.613)_ 11,663 8,051 1.2.2116 626 2,135 35,761 Fundraising School visits Thi8 relates to competition prizes to be used within the school Thls relates to school visits where excess funds are to carried Into the tollowing year to be used for the same trtp ThiknTr relat￿ to activities where exce88 funds are to carried into the following year trj be used for Ihe same aclivity This relates to fund% whir.h havp. hp_p.n hp.ld In hp. ijsed to purchase itemg for tho school in the folkiwing year This indudes funds that are to be used In the tollowng year on Duke of Edinburgh, Hop.kg.y 2nd Fqiipstrian Activities Purr.ha.qg.8 Other -11-

HIGHWORTH GRAMMAR SCHOOL TRUST, SCHOOL FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 37 JUL Y 2024 8 Analy515 of net assets between funds - 2024 Unrestricted Designated Total Current assets Liabilities 175,009 134,098 40,911 54.048 229,057 134,098 94,959 54.048 alysis of net assets bètween funds -2023 Unrestricted Designated Total Cu￿ent assets Liabilities 129.181 57,251 71,930 35,761 164,942 57.251 107,691 35,761 g Reconciliation of net income to net cashflow from operating activities 2024 2023 Nel income for the year Investment income Ilncreaseydecrease in debtors Increasel{decrease) in creditors (Increaselldecrease in stocks Ncl cash inflowlloufflow) from operating adivitses (12.7321 13,504) (51.490) 76,847 2,633 6,488 (26.500) 11.5661 505 (46,0981 120 73,539 10 Related party transaetions During the year, A Khalil, l Duffy, K Britton, R Dray, D Beer, V Brahmandam and D Valentine were also trustees of the Highworth Grammar School Trust. The School Fund donated an amount of £118k (2023= £99k) lo the Trust during the year. -12-