REGISTERED CHARITY NUMBER: 1090899
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2023
for
THE HARRODIAN SCHOOL CHARITABLE FUND
Hill Wooldridge & Co. 107 Hindes Road Harrow Middlesex HA1 1RU
THE HARRODIAN SCHOOL CHARITABLE FUND
Contents of the Financial Statements for the Year Ended 31 August 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
THE HARRODIAN SCHOOL CHARITABLE FUND
Report of the Trustees for the Year Ended 31 August 2023
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. 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 objectives of the charity are:
To offer financial assistance on a means-tested basis to external candidates applying for a bursary or full scholarship, to enable them to be education at the Harrodian. Depending on the family circumstances, financial assistance will be provided to meet the whole or part of the cost of the school's fees.
To offer financial assistance in the form of grants to current parents in order to meet the whole or part of the cost but only in emergency situations and provided they meet the criteria as set by the Trustees.
The fund also provides support and the advancement of all aspects of the education at the Harrodian.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities.
The charities activities provide a public benefit through supporting parents of external candidates, applying for entry at 11+ and 13+ as well as supporting current families with short-term financial difficulties.
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
Fundraising this year has focused on the following:
-
Communicating with all parents to inform them of the Bursary fund and 'how to donate' information.
-
Targeting specific parents, who have expressed an interest in donation.
-
Encouraging the donation of place deposits from leavers, including the 6th Form as well as all other age groups.
-
Investment in leading edge fundraising software, supplied by Toucan Tech and sitting within the school website.
FINANCIAL REVIEW
Reserves policy
The trustees aim to maintain a minimum reserve of £25,000.
FUTURE PLANS
With ongoing fundraising opportunities and activities, the future plans are to increase the number of scholarship assisted places to external candidates at the 11+ and 13+ entry levels and eventually include 16+, enabling potential entry into the 6th Form.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The Harrodian School Limited management approaches responsible individuals, all of whom either carry the list 99 clearance or else are officers of the court.
Training of new trustees
As a relatively small charity with moderate activity, we don't feel that any specific training is required for our Trustees, most of whom are professional upstanding citizens.
Page 1
THE HARRODIAN SCHOOL CHARITABLE FUND
Report of the Trustees for the Year Ended 31 August 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
We have considered the risks, if any, that the charity is exposed to, and the Trustees are confident that the charity does not have any commitment as we have not entered into any pledges or obligations beyond what we specifically raise for a particular charity or cause. We therefore do feel that there are not any charity specific risks or concerns.
The trustees believe appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1090899
Principal address Lonsdale Road London SW13 9QN
Trustees
T A Houstoun-Boswall A G Moore C Newman MA LLM J C Gough MA Dip Ed Dr A Parmley PhD MusM HonFGS A Rivers
Independent Examiner
Lino Perdoni FCA Hill Wooldridge & Co. 107 Hindes Road Harrow Middlesex HA1 1RU
Bankers
Barclays Bank PLC 1 Churchill Place London E14 5HP
Approved by order of the board of trustees on 26 June 2024 and signed on its behalf by:
Page 2
Independent Examiner's Report to the Trustees of The Harrodian School Charitable Fund
Independent examiner's report to the trustees of The Harrodian School Charitable Fund
I report to the charity trustees on my examination of the accounts of The Harrodian School Charitable Fund (the Trust) for the year ended 31 August 2023.
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 Act and in carrying out my examination I have followed all 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
Lino Perdoni FCA
Hill Wooldridge & Co. 107 Hindes Road Harrow Middlesex HA1 1RU
Date: 26 June 2024
Page 3
THE HARRODIAN SCHOOL CHARITABLE FUND
Statement of Financial Activities for the Year Ended 31 August 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 21,773 Other trading activities 2 - Total 21,773 EXPENDITURE ON Raising funds 3,930 Charitable activities Grants to individual beneficiaries for charitable purposes 256,920 Donations paid to charitable and other institutions - Total 260,850 NET INCOME/(EXPENDITURE) (239,077) RECONCILIATION OF FUNDS Total funds brought forward 390,472 TOTAL FUNDS CARRIED FORWARD 151,395 |
Restricted funds £ 3,345 - 3,345 - - - - 3,345 4,439 7,784 |
2023 Total funds £ 25,118 - 25,118 3,930 256,920 - 260,850 (235,732) 394,911 159,179 |
2022 Total funds £ 23,485 123,008 146,493 83,667 215,954 11,911 311,532 (165,039) 559,950 394,911 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
THE HARRODIAN SCHOOL CHARITABLE FUND
Balance Sheet
31 August 2023
| Balance Sheet 31 August 2023 |
||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | ||
| CURRENT ASSETS | ||||||
| Debtors | 5 | 16,710 | - | 16,710 | 18,187 | |
| Cash at bank | 135,653 | 7,784 | 143,437 | 410,878 | ||
| 152,363 | 7,784 | 160,147 | 429,065 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | Amounts falling due within one year 6 |
(968) | - | (968) | (34,154) | |
| NET CURRENT ASSETS | 151,395 | 7,784 | 159,179 | 394,911 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | TOTAL ASSETS LESS CURRENT LIABILITIES | 151,395 | 7,784 | 159,179 | 394,911 | |
| NET ASSETS | 151,395 | 7,784 | 159,179 | 394,911 | ||
| FUNDS | 7 | |||||
| Unrestricted funds | 151,395 | 390,472 | ||||
| Restricted funds | 7,784 | 4,439 | ||||
| TOTAL FUNDS | 159,179 | 394,911 |
The financial statements were approved by the Board of Trustees and authorised for issue on 26 June 2024 and were signed on its behalf by:
----- Start of picture text -----
C Newman MA LLM - Trustee C Newman MA LLM - Trustee
----- End of picture text -----
The notes form part of these financial statements
Page 5
THE HARRODIAN SCHOOL CHARITABLE FUND
Notes to the Financial Statements for the Year Ended 31 August 2023
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.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| Fundraising events | 2023 £ - |
2022 £ 123,008 |
|---|---|---|
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Page 6
continued...
THE HARRODIAN SCHOOL CHARITABLE FUND
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
| 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 13,379 Other trading activities 123,008 Total 136,387 EXPENDITURE ON Raising funds 83,667 Charitable activities Grants to individual beneficiaries for charitable purposes 215,954 Donations paid to charitable and other institutions - Total 299,621 NET INCOME/(EXPENDITURE) (163,234) RECONCILIATION OF FUNDS Total funds brought forward 553,706 TOTAL FUNDS CARRIED FORWARD 390,472 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.9.22 £ Unrestricted funds General fund 390,472 Restricted funds Restricted Funds for Other Charities 4,439 TOTAL FUNDS 394,911 |
Restricted funds £ 10,106 - 10,106 - - 11,911 11,911 (1,805) 6,244 4,439 2023 £ 11,500 5,210 16,710 2023 £ 968 Net movement in funds £ (239,077) 3,345 (235,732) |
Total funds £ 23,485 123,008 146,493 83,667 215,954 11,911 311,532 (165,039) 559,950 394,911 2022 £ 11,500 6,687 18,187 2022 £ 34,154 At 31.8.23 £ 151,395 7,784 159,179 |
|---|---|---|
Page 7
continued...
THE HARRODIAN SCHOOL CHARITABLE FUND
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 21,773 Restricted funds Restricted Funds for Other Charities 3,345 TOTAL FUNDS 25,118 Comparatives for movement in funds At 1.9.21 £ Unrestricted funds General fund 553,706 Restricted funds Restricted Funds for Other Charities 6,244 TOTAL FUNDS 559,950 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 136,387 Restricted funds Restricted Funds for Other Charities 10,106 TOTAL FUNDS 146,493 |
Resources Movement expended in funds £ £ (260,850) (239,077) - 3,345 (260,850) (235,732) Net movement At in funds 31.8.22 £ £ (163,234) 390,472 (1,805) 4,439 (165,039) 394,911 Resources Movement expended in funds £ £ (299,621) (163,234) (11,911) (1,805) (311,532) (165,039) |
|---|---|
Page 8
continued...
THE HARRODIAN SCHOOL CHARITABLE FUND
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted Funds for Other Charities TOTAL FUNDS |
At 1.9.21 £ 553,706 6,244 559,950 |
Net movement in funds £ (402,311) 1,540 (400,771) |
At 31.8.23 £ 151,395 7,784 159,179 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted Funds for Other Charities TOTAL FUNDS |
Incoming resources £ 158,160 13,451 171,611 |
Resources Movement expended in funds £ £ (560,471) (402,311) (11,911) 1,540 (572,382) (400,771) |
|---|---|---|
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
Page 9