DRAFT Registered Charity Number: 1082226 R¢gist¢red Company Numb¢r: 03983543 FRIENDS OF THE LONDON ORATORY SCHOOL (Acornpany LimitedbyGuarantee) REPORTOFTHETRUSTEESAND FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024
FRIENDS OF THE LONDON OIUTORY SCHOOL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The members of thc Council who are the trustees of the charity and the directors of the charity for the purpose$ of company law, submit their report and the financial statements for the year ended 31 March 2024. The trustees have adopted the provisions of the Charities SORP (FRSI 02). second edition. in preparing the report and financial statements ofthe charity. REFERENCE AND ADMINISTRATIVE DETAILS TRUSTEES Richard Adams Fr George Bowen Paul Harrington (resigned 16 July 2024) George Maher C,harles Doyle (appointed 16 February 2024) Daniel Wright Chris Mccallum {resi¥ned 16 February 2024) ADMINISTRATORI COMPANY SECRETARY Alice Robinson REGISTERED OFFICE S¢agrave Road London SW61RX INDEPENDENT EXAMINER Tracey Young Haysmac LLP 10 Queen Street Place London EC4R IAG BANKERS Lloyds TSB Bank Pl 417 North End Road London SW61NS CHARITY NUMBER 1082226 COMPANY NUMBER 03983543
FRIENDS OF THE LONDON ORATORY SCHOOL
REPORT OF THE TRUSTEES (eontinued
FOR THE YEAR ENDED 31 MARCH 2024
STRucfuRE, COVERIYALYCE AND MANAGEMENT
The Friends of the London Oratory School (FLOS) is a charitable company limited by guarantee and was incorporated on
28 April 2000. It is governed by ils memorandum and articles.
The Charity is managed by employees of the school on a part time basis. AliLe Robinson. Development 0(cer. has
respunsibility of Ihc tnanagemenl of the Ch&rity with the support uf anLillary 51dff. Fiv¥ Trustc¥slDir¥Ltorb arc Lurrcnily
appointcd tu oversee the Charity. New TNstees are appointed by the Cuun¥il of'i rustees. 'l-h¥ induLlion and training of
new TrustCCS dcalt with on an ad hoe basis depending on their needs..
'lThe Council meets not le.ss than 3 times a year and at each Annual General meeting the longest serving Trustees
representing one third of the total numb¢r ot. Trustccs must retire but are eligible for rc-cleclion. if each so wishes. No
Trustee received any remuneration or expcnscs during the year nor in the preceding ye&r. The trustees who served during
the year and are in office at the date of this report are shown on page l.
RISK ASSESSMENT
The Trustees have ¢1SSe55ed the major risks to which the Chdrity is expoyed, in Pdrticular those related to the operations
il tinanL¥5 of IhL Charity, and are satislied ih&t systems arc in place to miligatc our Lxposure lo the major risks. -lThe
Irustees are tULU5Ld un rLsiuring thL Chdrity's pn)lil¢ and <i¢¢ivitics. lollowing th¥ P¢ind¢m i¥ and ivst vl. living Lribis, both
of which had an adverse impact on the L'harity.
Like many ¢haritiey the Lundon Or
FRIENDS OF THE LONDON ORATORY SCHOOL REPORT OF THE TRUSTEES (continued) FOR THE YEAR EIYDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCE The Chartty h&5 shown a 14¥0 increase in income for the year ended 31 March 2024, plus an extraordinary trdnsfer of £136.465 from the London Oratory School Foundation {Ihe Foundation) which has similar charitable objectives to FLOS. Income, includin8 Gift Aid, rose from £318,682 in 2022123 to £498,547 in 2023124, This is set against a UK Lharity market in 2023 which showed that whilst fewer people donated to charity compared to before the P<indemic, some donors arc giving in larger amounis. Overall, the UK public donated an estimated £13.9 billion to charity last year- up £1.2 billi()n on 2022- despit¢ the fInnl1 pressure on households. {Ch&riti¢s Aid F'ound -UK Charily Giving Report 2024) There are number of factors which a¢counl for the ris¢ in incom¢ for the Friends of the London Oratory S¢hool in 2023124; I'h¢ rc¢¢ipt ol. funds fr()m the foundation, which has sharttd Lharitable objeLtiv¢s &nd has decided lo wind itself down in tlic inlcrests of Inininii5ing running cosls and focussing fundraising lor the school through FLOS. Th¢ grow¢h ol-th¢ Parcnlal Contribution S¢hcm¢ with th¢ numbcr of P¢irenls d()nuting inLr¥asing 10 413 and the average monthly gift rising lo £45. A numbcr of successful fundraising event% run during th¢ year. inLluding a Summ¢r Fair in July 2023 and an Auction in NoveTnber 2023. Th#sg Lv¥nls have also cnablcd incomc from Corporate Match F'unding to be generated. An incre&sc in incomc Irom Gift Aid as a result of bTrth gr()wing d()nations und impruving how we submit claims. As with uthcr succ¢sslul lundraising s¢h(Trols w¢ r¢¢tTrgnis¢ the b¢nefit4 1)f Ll)Ilab()rating h&ve worked Ll()sely uver the p851 Ye with enthu.%ia%tiL ld rei()urL'eful Pat. Thes¢ parents have be¢n a grLat assLI lo Ihc school hclping MlMI.%¢ impact and reach ncw audicn¢¢s. inally. and maybe most signifiLanily, w¢ have seen a real g¢ner()sily uf spirit from the whole London Oratory School c()mmunity in r¢.%p()ns¢ l() the chall¢n8cs Ihc school h&s f8cLd during th¢ ycar. most notably Ir()m the tire in December 2023. The ImpuLt Report 2023 highli8hicd how Ihc generous donations from current und former parents have been u¥ttd t() help ensure that the high ytundards ot cducalion have becn mainlained despite the challenges the school has f&Led.
FRIENDS OF THE LONDON ORATORYSCHOOL REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2024 The Parental Contribution Scheme enhances the qualiiy of the education of ihe 1,395 pupils at The London Oratory School, including the benefits above and beyond what Is expected of & school in the state system, as evidenced by th¢ results of the Septembcr 2022 Ofsted inspection which was outsiaftding in every category and by the rich c0-cu1cu1ar provision. FINANCE REVIEW Total income for the year was £498,547. Total expendilure w&s £574,744 which included grants to the school of £457.560. '1'herefore, the charity had a net deficil of £76.197 henLe. with funds brought forward of £1.250.606 ended the year with funds CrIed forward of £1,174,409. STATUS OF THE CHARITY Re.Yerves posilion andpolicy Total reserves at 31 March 2024 were £1,174.409 {2023: £1.250,606). With the ¢x¢eption of £11,386 of restricted funds included in the transfer of funds fram the foundation, all funds are unrestricted and the decrease retlects the excess of grants payable in th¢ y¢ar ov¢r ner lunds raised in lh¢ y¢ar. The Trust¢¢s ar¢ awar¢ ot the tough finanLial LirLum.stanc¢s fa¢¢d by the SLhool and th¢ S¢hool's et'lorts to save money. Th¥ SLhool is working tu r#duLe the in-ycar budget gap. but al this the level of conlributiun rttquircd from FLOS 18 nol Ll¥¢W. The Tru5tves belivvc it is prudvnl lu h(Ild this l¢vel of res¢rvcs al the Lurrenl titne should thc funding ilimatc delerioralc furthcr for thc School. 'I'hc charity nccds a vcry low lcvcl ofrctaincd rcscrvc and thc balanL¢ is uvailable lo support thc School. PIAn8 for the future The Trustees do nut eXPeLI kLny signi ficant Lhanges tu DLLur in Ihtt ubjeLtivvs ur ULtivilies ()f the Ch4irity. How¢v¢r, th¢ School's linanccs &rc bLing closLly monitored lor improvcmcnl 10 asscss the nccd lor any fulurL contributiL)n5. If the generdl funding <)utlook f()r %tate %Lho()15 suffiLiently improves in Loming yeur%, the Trustees may ci?nsider using ihc buili up rcsLrvcs to lund capital building dcvclopmcnl projects al the SLhool in line with that recently LIL]ed out in 2013 -2016, Ihc clcar bcncfils of which havc and will bc cnjoycd by many gLncratii)ns of pupi18 lo comc. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees. wh() are als() the direLtury of F'riends vf The Londun l)ralury SLhuol f(?r the purp()%es ()f Lompany law, arc rLsponsibl¢ for prcpari ng Ihc licport ol. the Trust¢CS and Ihc P inan¢i81 Stal¢mcnts in accordancc wilh &ppliLable law und United Kingdi)m ALcountingF %tdndards (United KinBd()m Cienerdlly ALLepled ALLuunting PraitiLe). Company law requires the Trustees t() prepare fin111 %iatements for euLh finanLial year which givc a iruc and lair vicw of the stalc of affairs of the Ch&rity and ol. Ihc incoming resouries and application of resourLeS (If the Charity, including the inL()me and expenditure, for that p¥riod. In prcparing th¢s¢ finanLial stalements, the Trustees are required i(): 5clcct suilabl¢ accountin8 policics and Ihcn apply thcm consislenily; obscrve the methods and principlcs in Ihc Charilics SORP: make jud8cments and eslimale5 that r¢asonable and prudent. stllte whether 8ppli¢abl¢ accounting blandards have been followed, subject to any mat¢ri&l d¢partur¢s dis¢los¢d and explained in the financial stai¢m¢nis' and prepare the finaftcial slat¢ments on the going concern basis unle5S it is inappropriate to pr¢$um¢ thai the Charily will continue in bu5in¢ss. The Trustee.$ are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial p051tion of th¢ Charity and to onabl¢ Ih¢m to ¢nsur¢ that (h¢ lin8ncial statcm¢nts comply with the Companies Ath 2006. Th¢y ar¢ als0 responsibl¢ for safeguarding the assets of the Chari¢y and h¢nc¢ for taking reasonable steps for Ihe pr¢v¢n¢ion and det¢10n of fraud and other irregulariti¢s. In pr¢parin8 this pOrt, the directors have taken advantage of th¢ Small ¢ompani¢s ¢xemptions provided by section 415A of Ihe Companies Act 2006. On behalf of the Council Richard Ad Date.. s (Tru%lLe) 17 ?029
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FRIENDS OF THE LONDON ORATORY SCHOOL I report to the Trustees on my examination of the accounts of the Friends of the London Or&lory School for the year ended 31 March 2024 which are set out on pages 6 to 10. Resptttive reJpon5ibilities of trustees and exminer The twstees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements ofthe Companics Act 2006 ("the 2006 Act ). The trustees are sdtisfied that an audil is not required for this year under s¢¢tion 144(2) ot. ¢he Chariti¢y Act 2011 {Ihe 201 l Acl) and hav¢ chosen instead to have an independent examination. Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act anil are eligible for independent examination, I report in respeLt of my examination ol'thc charitabl¢ Lompany's accounis as Larried out unders¢¢tion 145 ot'th¢ 201 l A¢t. In carrying out my examination I have followed the appliLable Dir¢¢tions given by the Churity Lommission under S¢Ciion 145(JXb) of thc 2011 Act. Independent examlner's statement SinLe the Lharity's income is in exccss of £250.000. your ¢XaTninvr be a memb¢r ol. a body listed in the 2U I l Act. I an conlirm th l ¢im quulified to undertake the examination becausc l am a r¥gi51¢red m¢mb¢r ot ¢h¢ Inslitul¢ of Chartered A¢counlanls in Cngland and Wules which is one ofthc lislLd bodies. have Lompleled my exam inaiion, l Confim lh& no matters have cume to my attention giving me Lau&e tu beli¢v¢ Ihai in any malcrial rcspeLt'. accounting records were not kept in respccl of Ihc Company as r¥4uir¥d by section 386 of thc 2006 Act. or 2. the accounts do n()t accord with thosc rccords. or 3. Ihc accounts du nul Lumply with the LL{)UntIng requircmcnts of section 396 1)f the 2006 Acl oiher than any rcquiremenl that thv acLuunls gyiv¢ a 'true and lair view, which is not a matter Lunyidered as parl ol'an independent ex&mination' or 4. thc accounts havc nol bccn prcpar¢d in ULLurdanLe with thc mcthods and principles ot the Sialcmenl of Rccommcnded Praclicc for acLuuntin¥ and rep()rting by Lharities applicable t() Lhdritie.4 prep&ring their acLuunts in acLordance with the Financial Reporting Standard appliLable in the IJK and Rcpublic of Ireldnd (fRS 102). I have no ci)ncerns and have come across no oihcr matters in connection with thc cx8minalion lo whiLh atl¢ntion should be drawn in this rcport in order to cnablc 8 proper underslanding of the aLLounls to bc reaL'hed. Trlcey Young ACA Haysm#¢ LLP Chartered Aeeountint$ 10 Queen Street Place London EC4R IAG D¢¢:
FRIENDS OF THE LONDON ORATORY SCHOOL STATEMENT OF FINANCIAL ACTIVITIES {ineluding an income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024 Unrtstriettd Restrieted 2024 2024 Total 2024 Unrestricted 2023 Notes INCOME FROM: Donlon$ Parental Contributions Gift Aid reLlaimable - Donation from The London Ornlory Foundation Inv¢stm¢nlS 262.807 77.321 125,079 262,807 77,321 136,465 253,508 61,328 11.386 Tol&l 487,161 11,386 498.547 318.682 EXPENDITURE ON: Raising flunds 49.753 49,753 73.209 Charilable acliviry L7rants made lo thc London Oratory School Supp()rt Costs of granl-mJking 457.560 457.560 431 414,833 Total 574 744 NET (DEFICIT) FOR THE YEAR (117.5113) 11,386 (76.197) (246.316) RECONCILIATION OF FUNDS: Total lunds broughi forward 2511611 125060 Total fund9 carried forward £1,163.023 £11.386 £1,174.409 £1,250,606 No summary income and exp¢nditur¢ account h&8 been preparcd bccausc this infomiation is given in th¢ above $tstem¢nt, All r¢¢ognis¢d gains and losses in the ¢urr¢ni 8nd prior year are included in the Stalcment of Financia] Activili¢s. All amounts relate to ¢ontinuing a¢tiviti¢s The notes numbered I to 9 forni part of these financial statements.
Registered Company Number: 03983543 FRIENDS OF THE LONDON ORATORY SCHOOL BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes CURRENT ASSETS Debtor5 Cash at bank 697,388 619110 62,028 1.316,391 1,366,267 CREDITORS: Amounts f&llin8 due within one year 1419112 NET ASSETS £1 174409 £1250606 FUNDS UnrestriLrt¥d funds RestriLted Funds £1.163.023 £11,386 £1,250.606 'I'o¢al £1.174.409 £1.250.606 Thv n()tes numbered 110 9 from part ol'these linanLiuI statttments. The Truste¢s consider that IhL charitable Lompany is cntitled to cxemplion fr()m th¢ r¢quircmcnl to have an audit undcr the provisions ol'scction 477 uf the Companie% ALt 20Q6 ("thc Act") and ihe members have nol rcquired the Lharilabl¢ Company to obtain an audit tor th¥ y¢ar in question in aLiordar¢cc with scction 476 of the A¢1. 1kne Iruslees acknowledge their resp()n.8ibilities for: ¢ntpuring that the charitabl¢ company kceps accounting records which ¢omply with s¢Ltion 386 of the Act; and 2. preparing financial stat¢m¢nls which give a tru¢ and fair view of the slate of affairs of the ch&ritable ¢ompany as at 31 March 2024 and of 115 {deficit) for the year then ¢ndcd in acLordanLe with scctions 394 and 395 (Trfthe Act. and whiLh oih¢rwise Lomply with the requirements of the Act relating to th¢ financial stal¢ments so far &$ applicable to the chariluble Lompany. These financial sl&lcments have been prepared in Mc¢ordan¢¢ with the provisions applicable lo company's subject to the small companies, re8ime. The financial Statements w¢rc approved by th¢ trustees and authorised for issue on behalf by 2024 and signed on their Richard Adams (Trus¢¢¢)
FRIENDS OF THE LONDON ORATORY SCHOOL IYOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES The finanLi&I statements have been prepared in accordan¥e with the financial Reporting Standard applicable in the UK and Rcpublic of Ircland {F'RS 102) and the Statement of ReLomm¢nded Practice applicable to charilies pparing their accounts in accord8ncc with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The fRS 102 Churilies SURP- second edition), the Companie5 Act 2006 and the Charities Act 2011, and Regulations made thereunder. 'I'he Charity is a Public Benefit Enlily as defined by FRS102 In the view of the trustees, in applying the accounting policies adopted no jud8¢m¢nts were required that have a signilicant cftccl on tho amounts r¢cogniscd in th¢ financial statements nor do any estimates or assumptions made arry a signilican¢ risk of mal¢rir¢l adjuslTncnl in Ihc n¢xt tinancial yoar. I'he charity h&$ only simple financial in5trum¢nls such as ¢ash. debtors and cr¢ditors. Going Concern 'I'hc'l'rusteesconsidcrthat Ihcrcarcno material uncertaintieswhich would c&stdoubion Ihechariiy % abiliiy Iv LVIIIiiiiiL &8 EA going concern. The Lount5 hfAVe b¥en prepF4red on FA going conccrn basis which is appropriate in the opinion of the Trustees given the level uf nets assely held ld the di¥Lretionary natur¢ ol'a lar8C Portion ol'ihc expenditure. Company Status The Lharily its a Lompany limited by guaranitte, inLi>rporated in F.ngland. 'I'h¢ m¢mbers of th¢ ¢ompany ar¢ the trustee.s. In the event of the Lharity being wound up, the liability in r¢spccl of the guarantett 1% limited lo £1 per m¢mb¢r. 'fh¢ r¢gistraiion number anij r¢¥ist¢r¢d offi¢¢ addr¢ are Shown ()n page l. Ineome Incom¢ ¢ompris¢s par¢ntal donaiions and r¢lai¢d Gift Aid i&x re¢laimabl¢, and inv¢.slmcnl income. All incomc is credited lo the St¢item¥nt uf FinanLial ALlivitie5 when the charity is legally ¢nliil¢d Iv the iniomc. r¢L¢ipt is probable and thc amount can bL quoniificd wilh rcasonable accuracy. Expenditure F.xpendilurcs recognised in the period in which it is incurrcd and is classi fied under heuding8 thut dggr¥gate ¢osls detYAiled below.. Expenditure on rAising funds Costs ofraising funds rclatc lo Ihc cosls IncUed by the Lharity with respect to fundr8i5ing eflorts. 'I'hcy includc dir¢¢t ¢v¥ts, ifany, and an allocaiion ol. support i()sts und¢rt#ken on a lime allncation basis. Expendlture on chvdrit4ble activity Charitable cxpcndilurc rclatcs to grani payments to The London Oratory Schoi)I, oth¢r direct c()5ts of. providing rin&nLial supp()rt for The London Qratury Schvol and an alloo&tion ol-support costs und¥rtak¢n ()n a time iilli)Lation basis. Gr8nl ¢xpenditure is recognis¢d when 'l'h¢ l.ondon Or8tory School n()tifies the chtirily of a conlribulion rcquiromortt and th¢ value of that Contribution quirement is communicated lo The London Oralory School following its approval by the Council. Support governan¢¢ expenditure Support cosls oxp¢nditur¢ r¢lal¢s to thos¢ indirt costs which ar¢ nec¢ssary for the delivery of the charity'5 objectiv¢s and include itetlls SULh a5 finanG¢. administr81ion, ov¢rh¢ads gov¢man¢c costs. The lalter comprises osls of complianc¢ with constitutional and statutory requirements including exlcrnal scrutiny. Ass¢¢s and liabilities D¢btors and crcdilors are recognised on the balance sheet at transaction value and there are no items requiring 5ubsequcnl re-measurement at fair value. Outstanding debtor5 are reviewed at the balance sheet dgle and the cost of the impairnient of debtors, if any. is dealt with through expenditure. Cash compris¢s r¢adily available amounts held in UK bank accounts.
FRIENDS OF THE LONDON ORATORY SCHOOL NOTES TO THE ACCOUNTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES(contlnued) Funds The funds ofthe charity represent monies received not yel expended. Unrestricted can be expended at the trnstees, disGretion within the charitable purposes of the charitable company. RestriLtcd funds must bc spent in aeeordance with th¢ donors instru¢tions. DONATIONS 2024 2023 Parental contributions Gi tt aid tax reclaimable Donation from The London Oratory Foundation 262.807 77.321 136,465 253.508 61.328 INVESTMENT INCOME 2023 2022 Baiik deposit iiiteirst £21,954 £3,1146 ANALYSIS OF TOTAL EXPENDITURE Support Costs (note S) Totgl 2024 2024 GrAllts osls of rai%in¥ vi)luntary income Charitable a¢livity- finan¢ial support for Th¢ Londun Ordtury School 49.753 49.753 524991 2023 Support Costs (note S) Total 2023 GrAnts C'osts of raising voluntary income Churitable activity - financial support ror The l.ondon Oratory School 73.209 73,209 £414,833 £150.165 £564,998 Support costs includes governance costs r¢lating to th¢ Ind¢p¢nd¢nt Examination of the accounts being £3,300 plus VAT in respect of the Independent Examiner'5 fee in respect of h¢r r¢port (2023: £3.100 plus VAD.
FRIEIYDS OF THE LONDON ORATORY SCHOOL NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 MARCH2024 ANALYSIS OF SUPPORT COSTS 2024 Finance Admin Overhead 2024 Raising Funds Charitable activity 5,623 9,561 34.569 49.753 2023 Flnanee Admin Overhead 2023 Raising Funds Charitable activity 5.075 8,605 59.529 73.209 49 £15,225 £25,1114 £1119.126 £150.165 Rcchargcd cmploymcnl costs of £44.130 (2023: £39,714) are includcd within finunce and adrninistration cosls and havc bcLn lIOLElled un the bdSiS Dfestimuled lime spent by thc rclcvanl slaty. Exlemal aLcounting costs and overheud co.si.s hav¢ been allo¢at¢d similarly. RELATED PARTY TRANSACTIONS 'I'hc 'l'ruslccs nciihcr rccLivcd nor waived any remuneraiion during lh¢ y¢ar {2023'. £nil). N() expenses were reimbur¥¢d Iii any Tru%tec n()r paid out on any 'l'ruslcc's bihal I. (21123.. £nil). Twi> Irusi¢¢s s¢]vin8 in Ihe year. Paul Harrington and Dan Wright wcre also Governors ol'the School, with Dan Wright boing ¢mploycd as H¢admastcr ()f the SLh()ol. Fr Georgc Bowcn is a mcmbcr of thL Futh¥rs of the London Orlltory in whom the freehuld interest in Ihc SLhool ¢stat¢ is ultimately vested. Charlv> Doyle who is an cmployee of the %Lhuol its Dircclor ol. Fin¢inL¢ and Operation%. N()ne of the afi)r¢menlii)ned Trusiecs and stall. have pers()nally benefitted Irom any Funds rai%ed nd Lonlribut¢d t() the SLh()()I by the Charity. Alicc Kobinson. who is employee of tho school. was respunsible for the manugement ()f the C'harity and anothcr cmploycc ol'the SLhi)ol provided bi)i)kkecping rVices. Part ()f their cmploymcnl cosls wa5 rc¥harged to the Lharity a5 set ()ut in noie 5. Ai 31 MarLh 2U24 aLLfudl8 iniludcd £16,582 due Ic) the %chool (21123 £15,262) for clcrical costs. During the year the London Oralory School rL'L'eived iniercsi- frce loans Irom th¢ Churity, the balanLe of which at 31. March 2024 was £6X5,143. These loans arc rcpayable on demand, but may bc conver1L to 8rants if the Trustees of the Friends of Ihc London Oral()ry School dccm it approprialc. DEBTORS 2024 2023 Loan to London Oratory School Prcpaymcnts and accrucd income 685,143 12,245 62.028 CREDITORS: Amounts fAlling due within oneyear 2024 2023 Accruals Grants payable lo The London Oratory School 21,982 120 000 20.661 RESTRICTED FUNDS 2024 2023 Restricted Funds- income in year and closing balance held in cash £11,386 Restricl¢d funds ar¢ to be used for improvements works at London Orntory School'5 Junior House playground. 10