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2020-08-31-accounts

Mr G Bisson Alumni
Relations		 Alumni
Relations		 Alumni
Relations		 Alumni
Relations
Mrs K Boalch Former Alumni Relationship Manager
Mr M J Edwards - Old Queenian and Governor
Dr L Earps - College Head Teacher
Mr TJ Howe - Old Queenian
MrJ DJones - Old Queenian and Governor (Chairman)
Mrs TJ Khodabandehloo - Junior School Headmistress (Resigned 31 August 2020)
Mrs L Smith-Bolliger - Queen's
Parent		 Association Representative
Ms A Edwards - Old Queenian
Secretary to the Trustees
Mr AJ Stevenson
Advisors
Independent Nicholas Sladden
Examiner RSM UK Tax and Accounting Limited
25 Fardingdon Street
London
EC4A 4AB
Address Queen's
College
Trull Road
Taunton
SomersetTA1 4QS

Unrestricted Unrestricted Restricted Total Total
Funds Funds 2020 2019
Notes 6
Income
Income:
Subscriptions 1,676 1,676 1,537
Donations 9,805 1,200 11,005 35,320
Legacy 8,953 8,953
Events 20,349 20,349 5,057
Dividends & Interest 2,190 2,190 1,209
Gift Aid 9,217 9,217
52,190 1,200 53,390 43,124
Expenditure
Grants 40,445 8,923 49,368 247
Events 19,472 19,472 3,753
Other Expenditure 3,402 3,402 2,935
Over accrued legal fees (20,000)
Charitable
expenditure		 4 63,319 8,923 72,242 (13,065)
Net Outgoing/Incoming Resources (11,129) (7,723) (18,852) 56,189
Other recognised gains/(losses)
Unrealised
Investment
Gain/(Loss)		 16,718 16,718 (2,160)
Investment
property		 revaluation (69,049)
Transfers (4,300) 4,300
Net movement
in funds		 1,289 (3,423) (2,134) (15,021)
Balance brought
forward		 at 1 September 2019 424,384 40,000 464,384 479,405
Balance carried forward at 31 August 2020 425,673 36,577 462,250 464,384

31-Aug 31-Aug
2020 2019
Notes
Investments 117,931 101,571
Investment Property 230,000
Current Assets
Stock 6,600 6,750
Bank 343,673 114,718
Prepayments and accrued income 40,680
350,273 162,148
Creditors: amounts due within 1 year (5,954) (29,335)
Net Current Assets 344,319 132,813
Total Net Assets 462,250 464,384
Unrestricted Funds 425,673 424,384
Restricted Funds
Sports 11 5,000
Archiving 11 12,985 13,000
Bursaries 11 15,500 10,000
Equipment 11 6,282 10,000
Religious studies 11 1,810 2,000
Total Funds 462,250 464,384

10 Related Charity Related Charity
Queen's
College,		 Taunton, part ofthe Methodist Independent Schools Trust, is closely related to the Foundation. Two Governors and
the Head Teacher of the College serve as Trustees ofthe Foundation
in accordance		 vxth the Chanty's governing
document		 Dunng the
year Foundation donated 838,979 to the Queen's
College Wesley		 Fund
and a further 89,173		 for capital
projects.		 Foundation was
recharged 81,556 in the year by Queen's College Taunton pnmanly relating to event costs and INyvern Figurines (2019 813,443) At
the year end Foundation owed Queen's College Taunton TO (2019 80) Dunng
the		 year Queen's College Taunton Foundation made
two loans to Queen's College Taunton of 8200,000 Interest payable on these loans totalled 51,519 No loans were outstanding at the
year end,
11 Summary
of		 Fund Movement
Balance at 1 Sept
2019		 Income Expenditure Other Balance at 31
Aug 2020
f
Restricted Funds
Sports Fund 5,000 (5,000)
Archiving
Funds		 13,000 (15) 12,985
Bursaries 10,000 1,200 4,300 15,500
Equipment I0,000 (3,718) 6,282
Religious studies 2,000 (I90) 1,810
40,000 1,200 (8,923) 4,300 36,577
Unrestricted funds
General
Fund		 424,384 52,190 (63,319) 12,418 425,673
Charity Total 464,384 53,390 (72,242) 16,718 462,250
Comparative fund analysis
Balance at 1 Sept
2018		 Income Expenditure Other Balance at 31
Aug 2019
r.
Restricted Funds
Sports Fund 5,000 5,000
Archiving
Funds		 13,000 13,000
Bursaries 10,000 10,000
Equipment 10,000 10,000
Religious studies 2,000 2,000
18,000 22,000 40,000
Unrestricted funds
General
Fund		 461,405 21,124 13,065 (71,209) 424,384
Charity Total 479,405 43,124 13,065 (71,209) 464,384
Name ofrestricted fund Description, nature and purposes ofthe fund
Sports fund To be used towards improving
the		 sports facilities ofthe College
Archiving
Funds		 A project is being undertaken
to house school archive		 material
Bursary Fund to be used for bursanes
Equipment Fund to be used to buy non-standard equipment
for existing		 students
Religious Studies Fund to be used in relation to Religious Studies

Analysis
 of net asset s between funds
Investments Net Current Assets Total
31 Aug 2020
Restricted funds 36,577 36,577
Unrestncted funds 117,931 307,742 425,673
Charity Total 117,931 344,319 462,250
Investments Net Current Assets Total
31 Aug 2019
Restricted funds 40,000 40,000
Unrestncted funds 101,571 322,813 424,384
Charity Total 101,571 362,813 464,384
Unrestricted Restricted Total Total
Funds Funds 2019 2018
Notes
Income
Subscriptions 1,537 1,537 1,624
Donations 13,320 22,000 35,320 25,949
Legacies 355,277
Events 5,057 5,057
Dividends & Interest 1,209 1,209 627
21,124 22,000 43,124 383,477
Expenditure
Grants 247 247 19,990
Events 3,753 3,753
Olher Expenditure 2,935 2,935 35,558
Over accrued legal fees (20,000) (20,000)
Charitable expenditure 4 (13,065) (13,065) 55,548
Net Income 34,189 22,000 56,189 327,929
Other recognised
gains/(losses)
Unrealised Investment Gain (2,160) (2,180) 9,458
Investment property
revaluation		 (69,049) (69,049)
Net movement
in funds		 (37,021) 22,000 (15,021) 337,387
Balance brought
forward		 at I September 2018 461,405 18,000 479,405 142,018
Balance carried forward at 31 August 2019 424,384 40,000 464,384 479,405