REGISTERED CHARITY NUMBEIL. 1085079 RepDrl of the Trustees and Financi21 Ststements for the Year Ended 31st Augusl 2024 for The Loyola Preparatory School Trust Cooper Paul Statuloo. Auditors Abacus House 14-18 Forest Road Loughton IGIO IDX
The yO14 Preparatory Scbool Trust Contents of the Financial Statements for the Year EDded 315t August 2024 Page Report of the trustees Report of the independent auditor5 7 10 10 Statement of financial activities Statement of financial position 12 Statement of cash flows Notes to the statement of cash flows 14 Notes to the financial statements 15 lo 21 Detailed statement of finaneial activitie5
The yO1 Preparalory School Trnst Report of the Trustees for the Y¢ar Ended 31st August 2024 The tru5te¢s present their report with the financial statemcnts of the charity, for the year ended 31st August ?0?4. The trustees have adopied the provisions of Accounling and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS IO•) (effective l January 2019). Objectives and activities Charitable objecfi¥'e3 The objects of the charity are to advance th¢ Roman Catholic religion by maintaining a Catholic school. whose activities are conducted in accordance with canon law and which proN'ides education in the Ignatian tradition. It is the duty ofthe trustees and governors to advance and support this aim. Slralegic Aim und Intended EffeL"I The School's strategic aim is the attainment of the highest acadeniic lei'els whilst at the same time allowing pupils to benefit from a varied extra-curyicular progrdtnme. This is intended to draw out their abilities and academic potential, awaken and develop wider interests in life and motivate them for a successful career at their secondary school. ObjectEI'esfor ihejgar The Board's main objective continue5 to b¢ to educale all of the School's pupils to at least the 5atne high standard achieved by the School in previous }'ears. so that pupils will be able to reach their potential and derive greatest benefit from their chosen school for the eventual completion of their education. Our strategy for achieving this is to continue the School'5 curreni teaching aange[llents with a constant emphasis on high standards, adding value to each child and tailoring our services where necessary to meet the speciflc needs of a particular pupil. Achievement 2nd perforniance The aim of the truslees is to operate the school at a surplus to ensure that there are fiu]ds available to provide for upkeep and development of the premises and to provide additional resources for the school as necessary. The funds held at present are planned to be used for the redevelopment of the premises andlor teaching resources. Financial review Income from aclivitie5 for the year. primarily from sch1 fees. increased by 4.5 % to £2,069.745. Direct expenditure relating to the Charity's objectives amounted to £2.034.720 with 73.4Q/o of this figure being in respect of staff salary and pension costs. After taking account of class resources. administration costs. premises expenses and catering costs there was a surplus of £35.025 which h&s been added to the Charity's reserves. Reservespolicv It is the policy of the charity. lo maintain unrestricted funds. hich are the free reserves of the charity. at a level which enables it to provide for unexpected premises maintenance cost and the overall development of the school. Unrestricted funds were Maintained at this level throughout the year. Ini'eslment POH'ers (mdpolicfv. The trustees, investment power5 are governed bs the Trust Deed, which pemiits the charity's funds to be used at the absolute discretion of the (njstees. However a low risk policy is followed so that available retained tunds, other than those required for day to day cash management. are placed with the Charities Official Investment Funds (COIF) managed by CCLA Investment Management Limited. Page I
The Loyola Preparatory School Trust Report of the Trvstees for Ihe Year Ended 31st August 2024 Future plans The key objectives for the future are: TO Strengthen the Ignatian character of the school bj re-activating links with the Jesuil Institute To promote and increase the Catholic uptak.e of school places while ensuring the school continues to welcome pupils of all faiths To maintain the curTent high standards of academic achievement as measured by external examinations for enty to senior schoo15 and internal ongoing assessments throughout the whole school To reco8ni5e that each pupil has individual talents and to encourage. support and develop these during their time at the school To balance academic achievement through maintaining a curriculum allowing full scope for th¢ development of sporting. artistic and social as well as academic Skills To encourage cross-sector partnership working in line with the Department of Education's Joint Understanding programme To continue to build and encourage community access to the School's facilities To market the school place 'aCanCieS and prospects at 7+ Structure* governance and management Stanu al adminislralion The charity is constituted by a Trust Deed dated 2nd November 2000 and tegislered with the Charity Commissions under clwity number 1085079. OrganisatiOP7al Alanageipiep21 The Govemors are appointed by the Trustees and meet as a Board at least six times a year to determine the general policy of the chariry and revie its overall managemenl and control, for which the) are legally responsible. The day-to-day running of the school is delegated to the Headmistress supported by administration staff and other senior ieachers. During the year. six persons Served as GovernotS. Tnlstee induction and training The Trustees are appointed by the Bishop of Brenlwood following consultations with existing trustees who may receive nominations from the Board ot" Governors and other local parties. An appointment be based on such matter5 a8 the nomination's eligibility. personal competence. specialist skills and availability. New trustees receive various pieces of written infomiation regarding the workings of the school as a registered charity. RefereDce and adminislrative details RegRStered Charity number 1085079 Principal address 103 Palmerston Road Buckhurst Hill Essex IG9 5NH Trllstees Domtnic Savage (Chairperson) Patricia Alder Fr. John Harvey (retired 14111?025) Fr. Adrian Lowe (appointed 15101115) David Maxim Anne D'cruz Fr. liobert Page Page 2
The Loyola Preparatory School Trust Report of the Trustees for the Year Ended 31st August 2024 Reference and administrative detsils Auditors Cooper Pau Statutory Auditors Abacus House 14-18 Forest Road Loughton Essex IGIO IDX Clerk to the Trustees Maria Rosario Headmistress Kirsty Anthony Page 3
The Loyola Preparatory School Trnst Report of the Trustees for the Year Ended 315t August 2024 Public benefit during 2023124 The guidance from the Chariiy Commission states that public benefit provided by Loyola Preparatory School must be consistent with the School's chariobje objects. The Declardtion of Trust of Loyola Preparatory School dated ?nd NoN'ember ?000 states that "The objects of the Charity are to advance the Roman Catholic religion by advancing education by the provision of a catFLoIic school to be conducted in accordance with canon law and the Ignatian tradition which it shall be the duty of the Governors and Tnlee5 to advance and support.. Public Benefit thro h the advance of the Roman Catbolie reli ion The advance of religion has been long accepted as a charitable act. IT has been the intention of the Trustees and Governors in pursuance ot'their duties as stated in the Charitable Objects that Loyola both advance Roman Catholicism through ils ethos. religious educational programme and its liturgical life and through promoting an appreciation of its values within those of oiher faiihs and traditions who are members of the school as well as promoting appreciation amongst Roman Catholic pupils of the values of such other faiths and traditions. School ethos: This is reflected within the school Mission Statemenl and is based on principles associated with the tradition of St Ignatius ol" Loyola as practised by the Society. of Jesus. the original founder5 of the school, R.E. programme". As a Roman Catholic school, Loyola must teach R.E. according to the Curriculum Directory of the (Catholic) Bishops of England and Wales. The school utilises the Education programme Come and See" for this purpose. A significant component of the course is Comparative Religion and pupils from other creeds and tradilions are encouraged to speak about their practice in order to support mutual appreciation and understanding between Faiths. The Chair of Governors and ihe Heathnistress have attended training regarding the new Religious Education Directory (RED). This is to be used instead of schemes of work such as. "Come and See". A5 part of our school action pla we will be phasing this into different year groups over the neA1 18 months ready for full implementalion by September 2026. Liturgical Life- The liturgical Itfe of the school revolves around a weekly Mass to which all pupils attend and participate. Parents and members of the local Catholic parishes are able to attend. Pupils also participate in classroom collective worship on a daily basis. In addition. the choir sang at the St Thomas, Advent Ecumenical Service and at St John Vianney Church in Clayhall forthe All Souls, Mass. Public Benefit throu h Advanein Educatio Education itself has long been land remains) a charitable purpose and public good. Loyola has a virtually non-selective intake. Historicallv. the pupils, results are bv the age of I l in advance olthe state sector average in the Key Stage I SATS. Loyola Key Stage 2 SATS Results in May 2024 Loyola: 0/0 of pupil5 achieving the expected standard Nationally= 0/0 of pupils achieving the ex ected standard eadin pellrng. Punctllation aThd Grammas SPAG Writin athemattcs cience i ooo/. 79O/D 720/. 730/. 810/0 l 0/0 l O(P/o Page 4
The Loyola Preparatory School Trust Report of the Trnste£s for tbe Ye2r Ended 31sl August 2024 Public Benefit throu h Advancin Education continued As a result of the excellenl standard of educatioTh pupils in Year 6 achieved the following offers into secondary schools Bancrofts Brentwood Chigwell Forest King Edward VI Grammar Normanhurst Royal Colchester Granunar St Michaels (Eton 13+) Weslcliff Grdmmar Winchester & Marlborough College I place In total this Constilutes. for 17 pupils 35 place offers plus 6 scholaTships offered. 6 places plus ? Scholarships 7 places plus I Scholarship 7 places plus I Scholarship 7 places plus I Scholarship I place 3 places I place I place plus I Scholarship I place Breakdown of pupils, destination schools 59 % Independent Schools 930/0 State Maintained Schools 180/0 Grammar Schools Bur5arie5 and Scholarshi Loyola provided five fee reductions for Hume Scholars totalling £IO.593. Fund raisin for charities- Part of the school's charitable work is fund raising in sUPPOrt of Catholic charities and the advancement of Roman Catholicity: the Caiholic Fund for Overseas Development (CAFODI & the Brentwood Catholic Children's Society (BCCS). During the the school also supported The Chigwell Riding TrusL Children in Need, Crisis, Cancer ResearcM Love Em TrusL Macmillan Cancer, Motor Neurone Association, NSPCC and Red Nose Day. Charitable donations of food are also made lo the Epping Food Bank" and Noah'5 Ark Community Hub. Other activities that benefit children from other schools and advance education Lo)'ola has been committed in providing and benefiting where tM)ssible. the wider local community. Loyola were able lo support a local theatrical group (Upstage) with the use of our school hall for pantomime rehearsals throughout September to Januari, 20?4 at no cost. This allowed the use of the premises to advarLce educational opportunities and to open up a Caiholic environment for the benefit of the wider community. Loyola also hosted a Secondary School Fair was held in the Whitsun tertn with invitations seni to all local (state maintained} pritnary schools. Staff were also available to offer guidance through the I l+ process. Statement of tru5tees' responsibilities The trustees are responsible tor 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). Page 5
The Loyola Preparatory Sehool Trust Report of the Trustees for the Year Ended 31st August 2024 Stalemellt of trustees, respoDsibilities- continued The law applicable to charities in England and Wales. the Charities Act 201 l. Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare fsnancial statements for each financial year which give a true and fair vie, of the state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditUTe, ofthe charity for that period. In preparing those financial ststements. the tTUStees are required to select suitable accounting policies and then apply ihem consistently. observe the methods and principles in the Charity SORP. ake judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed. subject to any material departures disc105ed and explained in the financial slatements. 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 wsition of the charity and to enable them to ensure that the financial statements comply with the Charities Act ?01 l. the Charity IAccounts and Reports) Regulations ?008 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. Approved by order of the IK)ard ofirustees on 95, March ?025 and signed on its behalf by.. nic Savag¢ - Chair of Trustees Page 6
Report of the Independent Auditors to the Trustees of The IA)yola Preparatory School Trust Opinion We have audited the financial statements of The Loyola Preparatory School Trust (the 'chariti ) for the year ended 3 1st August 2024 which comprise the Statement of financial activities. the Statement of fuwicial position, the Statement of cash flows and notes to the financi 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 KingdoTn Generdllv Accepted Accounting Practice). In our opinion Ihe financial statements: give a true and fair view of the state of the charity'5 affairs as at 3 1st August 2024 and of its incoming resources and application of resources. for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audi( in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our reSnSIbIlitieS under those standards are further described in th¢ 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 slatements in the UK, including the FRC'S EthicaK Standrt and we have fulfjlled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 13 sufficient and appropriate to provide a basis for our opinion. ConelusioDS relating to going Concern In auditlng the financial statements. we have concluded that the trustees, use of the going concern basi5 of accounting in the preparalion of the financial slatements is appropriate. Based on the work we have perfortned. we have not identified any material uncertainties relating to events or conditions that. individually or colleclively. may cast Significant doubt on the charity's ability to continue as a going concern for a period of at leasi twelve months from when the financial ststements are authorised for tssue. Our responsibilities and the Tcsponsibilities olthe trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other infomiation. The other inforn]ation comprises the infonnation included in the Annual report, other than the flnancial statements and our Report of the independenl auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent othen¥ise e.xplicitly stated in our rep)rt. we do not e.xpress an). forni of assurnnce conclusion ihereon. In connection with our audit of the financial statements. our responsibilitv is to ad the other infomiation an in doing so. consider whether the other infonnation is materiaIly incon5lStent with the financial statements or our knowledge obtained Èn the audit or otherwise appe5 to be materially misstated. If we identify such material inconsistencies or apparent materia] misslatements. we are required to deterniine whether this gives rise to a material misstatement in the financial slatements themselves. Ir. based on the work we have performe we conclude that there is a materia] misstatement of this other information. we are Tequired io report that fact. We have nothing to report in ihis regard. Page 7
Report of the Independent Auditors to the Trustees of The Loyola Preparatory School Trust Matters on which we are required to report by exeeptio We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 require5 US to report to you if, in our opinion: the information given in the Report of the trustees is inconsistsnl in any mafrrial respect with the financial stateTnents' or sufficient accounting records have not been kepi. or the financial slatements are not in oreement with the accounting records and returns" or we have not received a]1 the inforn]ation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of trustees, responsibilities, the trustees are responsible for the preparation of the flnancial statements N&hich give a true and fair view, and for such intemal 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 &8se5sing 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 ce&8e operations, or have no realistic alternative but to do so. Page 8
Report of the IndeptDdent Auditors lo the Trnstees of The Loi'ola Prep2rAton" School Trust Our responsibilities for the audit of the financial statemeDts We have been appointed as audilors under Section l44 of the Charities Act ?0 I l and rewjrt in accordance with the Act and relevant regulations made or having elTecl thereunder. Our objectives are to obiain reasonable assurance about whether the financial ststements as a whole are free from material misstatemenl, whether due to fra1 or eOr. and to issue a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurance. bui is noi a guarantee ihal an audit conducted in accordance with ISAS (LK) will alw'ays detect a material misstatsment when it exists. MisstatemerLts can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected io influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. inclLEding Iraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respecl of irregularities, including fraud and non•compl lance with laws 2nd gUlations. was as follows: -our engagement partner ensured that the engagemenl team colleclively had the appropriate competence. capabilities and skills to identify. or recogntxe non-compliance with applicable la'S and regulations- -we identified the laws and regulations applicable to the charity through discussions with management. and from our knowledge and experience of charity operations. -we focused on specific laws and regulations N'hich 'C considered may have a direct material effect on the financial statements or the opeTation5 of the charity.. including such &$ the Charities Act 201 l. data protection. anti-bribery, employment. environmental and health and safety legislation; -we assessed the extent of compliance with the laws and regulations identified above through making enquiries of managenient and inspecting legal correspondence: and -identified laws and regulations were communicaled within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the chariry's financial statements to material misstament. including obtakning an understanding of how fraud might occur by: -mak-ing enquiries of management &% to where they considered there was susceptibility to fraud, their knowledge of actual. s8peCted and alleged frdud: -considering the inlernal cotrtrols in place lo miligate risks of fraud and non-cotnpliance with laws and regulations. To address the risk of fraud through management bias and override of controls. we: -perfonned ana1]CaL procedures to identify an), unusual or unexpected relationships. -tested journal entries to identify unusual trdllsactions: -assessed whether judgements and assumptions made in deterniining the accounting eslimates were iT]dicative ofpotential bias. -investigated the rationale behind significant or unusual transactions: In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: -agreeing fLnancial statement disclosures to underlying supporting documenlatio -reading the minutes of meetings of those charged with governance: -enquiring of management as to aclual and potential litigation and claims; -reviewing correspondence with the charitys legal advisor5- There are inherent limitations in our audit proCedUS described above. The more removed that laws and regulations are from financial tran&2ctions. the less lik.ely it is that we would become aware of non-compliancc. Auditing standards also limit the audit procedure5 required to identify non-compliance with laws and regulations to enquiry of management and the inspection of regulatory and legal correspoThdence, if any. Page 9
Report of the Independent Audilors to the Trustees of The Loyola Preparatory School Trust Material misstatements that arise due to fraud can be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of OUT responsibilities for the audil of the financial statements is located on the Financial Reporting Council's websile at www.frc.org.uklauditorsresponsibilities. This description fornis part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitv's truslees. as a bod. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations ?008. 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 e.xtent permitted by law. we do not accept or a55ume responsibility to anyone other than the charity, and the charity's truslees as a body. for our audit work. for this report, or for the opinions we have fonned. Cooper Paul Statutory Auditors Abacus House 14-18 Forest Road Loughton IGIO IDX ?5th March ?0?5 Page 10
The Loyola Preparatory School TTllSt Statement of FinaDcial Activities for th¢ Year EDded 31st August 2024 2024 IIDrestrieted funds 2023 Total funds Notes Income aDd endowments from Other tTading activities Investment income Other income 9.035.337 28.538 5,870 1,966.420 12.700 2,260 Total 2,069.745 1.981.380 Expenditsre on Charitable activities School 2.034.720 1,930.625 NET INCOME 35.0?5 50,755 RecoDciliatioo of funds Total funds brought forward ? 653,876 ? 603,1?1 Total funds cgrried forward 2.688.901 2.653.876 The notes forni part of these financial statements Pagell
Tkne Loyola Preparatory School Trust Stalement of FinaDcial Position 31st August 2024 2024 Unrestricted funds 2023 Total funds Notes Fixed assets Tangible assets 1?9,466 ? 154,013 Current assets Debtor5 Cash at bank and in hand 10 65.735 1.4?1.852 67,418 940.603 1.487.587 1.008.0?1 Creditors Amounts falling due within one year (738.9??) {?73.003) Net current Assets 748,665 735,018 Total Sets less current liabilities ?,878,131 2.889.031 Creditors Amounts falling due after more than one year (189.230) ?35,155) NET ASSETS 9 688,901 2,653,876 Funds Unrestricted funds 14 ?.688,901 .653.876 Total funds ?.688.901 1,653.876 th The financial statements were approved by the Board of Trustees and authorised for issue on 25 March 2025 and were signed on its behalf by: Dominic Savage - Chair of Trustees The notes forni part of these financial statemenls Page l?
The IA•yola Preparatory School Trust StateDJent of Cash FIoT¥s for the Year Ended 31st August 2024 2024 2023 Notes Cash flows from oper2ting activities Cash geThcrated from operations Inlerest paid 569 303 6.033) l)4,744 6.837) Net cash provided by 0[ratIng aclivilies 556.270 1?7.907 Cash flows from investing activities Purchase of tangible flxed assets Interest received (82.836) 28.538 (43.845) 12.700 Net Cash used in investing activities 54.298) 31,145) Cash flows from financing activities Loan repayments in year 20.7?3} (24,694) Net cash used in financing activities 20.723) (24.694) Change in cash and ea5h equivalents ID the reporting period Cash and cash equivalents at the beginning of the reporting period 481,249 940.603 868.535 Cash and casb equivalents at the end of the reporting period 1.491,852 940.603 The notes forn) part of these financial statement5 Page 13
The IA)yola Preparatory School Trust Notes to the Slatement of Cash Flows for the Year Ended 31st August 2024 Reconeilialion of net income to net eash now from operating activities 2024 2023 Net income for the reporting period (as per the Statement of financial activitiog) Adjustments for: Depreciation charges Interest received Interest paid Decrease1(incrC) in debtor5 Increasel(decrease) in creditors 35.015 50.755 107.383 (28.538) 6.033 1.683 440.717 104.908 (1?.700) 6.837 19,039) 6,017) Net eash provided by operalion$ 562,303 134,744 Analysis of cbanges in net funds At 119123 Cash flow At 3118124 Net cash Cash ai bank and in hand 940.603 481.249 1.421.852 940,603 481,249 .421,85 Debt Debts falling due within l year Debt5 falling due after l year (22,999) 153,905) (3,952) 24.675 (26.951) 129.230) 176,904) 20,7?3 156,181) Total 763,699 501.97? 1,265,671 The note5 forni part of these fitLqncial slatements Page 14
The Loyola Preparatory School Trust Note5 to the Financial Statements for the Year Ended 315t August 2024 Aecouotillg policies Basis of preparing tbe financial statemellts The financial siatements of the charity. which is a public benefit entity under FRS 10? have been prepared in accordance with the Charities SORP IFRS I O?) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (effective I January 20191,. 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 c05t convention. Income All income is recognised in the Statement of Financial Activities once the charity h&8 entiilement lo 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 obligaiion committing the charity to that expenditure, it 15 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 un(kr headings that aggregate all cost related to the category. Where costs cannot be directl), attributed to particular headings they have been allocated to activiti¢s on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the follo.ing annual rates in order to MTite off each asset over its estimated useful life. Freehold propety Fixtures and fittings Motor vehicles Computer equipm¢nt Straight line over 50 years Over l O years ?5 /D on reducing balance Over 4 years Trdxation The charity is exempt from tax on its charitable activities. Fund accountiug Unrestricted tunds can be used in accordance with the chitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted Pu)seS withirL the objects of the charity. Restrictlons arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nattire and purpose of each fund is included in the notes to the financial statements. Page 15
The Loyola Preparatory School Trust Notes tij the Financial Ststements - eontinued for the Year Ended 31st August 2024 Other trading activities 2024 2023 Fees receivable Grant income Commissions receivable Homework classes & clubs Non-refundable entrance fees Other income Before & after school club Holiday club Cooking Club 1,873.951 3.000 753 13.074 50.550 4.943 54,408 33,649 1.009 1,821.687 5.100 49 11,535 8.700 25.125 54.686 39.538 035.337 1.966,4?0 Investment income 2024 2023 Clwities Trust Fund Deposit account interest 27,246 1.292 102 28.538 12,700 Charitable activities eosts Support costs (see note 5) Direct Costs Totals School ?,048.687 6.033 1,034,7?0 Support costs Other School 6,033 Page 16
The yO12 Preparatory School Trust Notes to the Finaneial Statements - eontillued for tbe Year Ended 31st August 2024 Trustees, remuneration and benefits There were no trustees, remuneration or other beneflts for the year ended 3 1st August 2024 nor for the year ended 31 st August 2023. Trustees, expenses There were no tNstees' expenses paid for the year ended 315t August 2024 nor for the year ended 31st August ?023. Staff costs 2024 2023 Wages and salaries Social security costs Other pension costs 1.220.274 1,128,440 104.475 155,068 161.326 1.494,071 1.3S7.983 The average monthly nutnber of employees duTtng the year wa5 as follows: 2023 FTE 14.26 9.90 3.03 1.00 3.93 2023 FTE 13.79 9.90 Teaching Classroom assistants and welfare AdministrdtioTh Premises Catering 1.00 3.93 32.11 31.05 One employee received emoluments in excess of £50.000 but below £60,000.One employee received emoluments in excess of £60.000 but below £70,000.One employee received emoluments in excess of £80,000 but below £90.000. Page 17
The Loyola Preparatory School Trust Notes to the Financial Statements - continued for the Year Ended 315t August 2024 Comparatives for the statement of financi81 activities Unrestricted funds Intome and endowments from Other trading activities InvestTnent income Other income 1.966.420 12.700 ?.260 Total 1.981.380 Expenditure on Charitable activities School 1,930,625 NET INCOME 50,755 Reconciliation of funds Total fimds brought forward ?.603,121 Total funds carried forward 2,653.876 Tangible fixed assets Fixtures and fittings Freehold property Motor vehicles Computer equipment Totals Cost At 1st September 2023 Additions 2.899.035 457,024 82.836 28,014 103,587 3.487.660 At 31 st August 2024 ?,899.035 539.860 ?8.014 103,587 3.570.496 Depreciation At 1st September 2023 Charge for year 982,084 57.980 21.365 1,663 78,954 1,333.647 107.383 At 31 st August 2024 1.040,064 293,75? 23,028 84,186 1,441,030 Net book value At 31 st August 2024 1,858,971 ?46,IO8 4.986 19.401 2.129.466 At 31 st August 2023 1,916,95l 205.780 6.649 24,633 2,154.013 Page 18
The Loyola Preparatory School Trust Notes to the Financial Statements - Continued for the Year Ended 31st August 2024 10. Deblors: amounts falling dDe withiD one year 2024 2023 Trade debtors Prepayments 8.884 56,851 19.487 65.735 67.418 11. Creditors: gmounts falIing due within one year 2024 2023 Bank loans and overdrafts (see note 13) Trade creditors Other creditors 26.951 68i.890 26.081 ?15.162 34,842 738.922 273.003 12. Credithrs: amounts falling due after more Ihan one ye2r 2024 2023 Bank loans {see note 13) Other credito 129,?30 60.000 153,905 81.250 189.230 235,155 13. Loans An analysis of the maturity ot" loans is given below.. 2024 2023 Amounts falling due within one year on demand: Bank loans 26.951 Amounts falling between one and two years: Bank loans- 1-2 years 95,866 24,676 Amounts falling due between two and five years: Bank loans- 2-5 years 85.326 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 18.038 40.512 Page 19
The Loyola Preparatory School Trust Notes to Ihe Financial Statements - continmed for the Year Ended 31st August 2024 14. Movement in funds Net movement in funds At 3118124 AÉ 119123 Unrestricted funds General fund 2.65J.876 35,0?5 9 688,901 TOTAL FUNDS 2.653.876 35.025 2,688,901 Net movement in fund5. included in the alx)ve as follows: Incoming resources Resources expended Movement in funds Unrestrieted funds General fund 2.069,745 (2.034.720) 35.025 TOTAL FUNDS 35.025 Comparatives for movement in funds Iyet moiement in funds At 3118123 At 119122 Unrutricted funds General fill)d ? 603.1?1 50,755 ?,653.876 TOTAL FUNDS 2.603.121 50.755 2.653,876 Comparative net movement in funds. included in the above are as follows: Ineoming resources Resources Movement expended in funds Unrestrieted funds General fund 1.981.380 (1.930.625) 50.755 TOTAL FUNDS 1.981.380 I.930.625) 50,755 Page 20
The Loyola Preparatory Sch(1 Trust Notes to the Financial Statements - continued for the Year Ended 31st August 2024 Movement in funds - continued 14. A current year l ! months and prior year l? months combined position is as follows: Net movement in funds At 3118124 At 119122 Unrestricted funds General fund 2.603.1? I 85.780 688,901 TOTAL FUNDS ?603.121 85,780 2,688,901 A current year 12 month5 and prior year l ? above are as follows: months combined net movement in funds. included in the Incoming resources Resources expeDded Moi'ement in funds UDrestrACted funds General fund 4.051,125 (3.965,345) 85.780 TOTAL FUNDS 4.051.125 (3.965.345) 85.780 15. Related party disdosures There were no related party transactions for the yeaT ended 31 st August 2024. Page 21
The Loyola Preparatory School Trust Detailed Statement of Fingneial Aelivities for the Year Ended 31st August 2024 2024 2023 Income and eDdowmeots Otber trading activities Fees receivable Grant income Comtnissions receivable Homework classe5 & club5 Non-refundable entrance fees Other income Bet"ore & after school club Holiday club Cooking Club l.873.951 3.000 753 13.074 50,550 4.943 54,408 i3.649 1.009 1,821.687 5.100 49 11,535 8.700 ?5,1?5 54.686 39.538 ? 035,337 1.966.420 Investment income Charities Trust Fund Deposit accounl interest 27.246 102 28.538 12.700 Otber ineome Other income 5,870 Total incoming ro40urces 2,069.745 l.981.380 Expenditure Charitable actiTrThties Teaching costs Adminislration costs Premises costs 451.087 327.958 449.642 1,171,413 304.?91 447,083 2.028,687 1.923.788 Support costs Other Bank interest 6.033 6,837 Total resources expended 2,034,720 1,930,625 Net income 35,0?5 50,755 This page does not forni part of the SLqtuiory financial statements Page 22