2022-08-31-accounts

REGISTERED CHARrtY NUMBER: 1106076 REPORT OF THE TRUSTF.F.S AND UNAiIDITED FLYANCIAL STATEMENTS FOR THE YEAR Ef4DED 31 AUGUST 2022 FOR TH8 ROYAL MASONIC SCHOOL FOR GIRLS

THE ROYAL MASOl+lIC SCHOOL FOR GIRLS BtTriSARY FUND Contents of the F&nancial Ststements for the ear ended 31 Au st 2022 Page Report ofthe Trustees Ito2 Independent Exatoiller's Report Ststen)ent of Finaurial Actiyitieg Balance Sbe¢t Notes to the F7ll8llcial Stat¢ments 6t09 Detailed Statement of Finaucial Activities io

THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND Report of the Trustees for the year ended 31 August 2022 The ts￿e$ pr¢sent their report Hyth the fillancial staterrLents of the charity for tbe year ended 3 1 Augllst 2022. The fJTJancxal ststements have been prepared in accordance with tbe applicable law al￿ Ullited Kingdom Account Stsndards (United KingdollL Generdlly Ac¢ept¢d Accounting Practice) including FRS 102 Charities SORP. Reference and admknistrntiv¢ detsils Registered Charity uumber 1106076 Princtpal address Rickmtnsworth Park Rickm2n8WOrtb HeLrfordshire WD3 4HP Trustees P Dyke S Stsite I WiIliams R Garvey Independellt ¢Kaminer Shivani Kot]Lari Chartcrcd Accoulltant 9 Appold Street London EC2A 2AP InvestJlleDt Manager tnvestec We21th & Investment Ltd 2 Gresham Street London EC2V 7QN Structure, G￿ven￿nCe 2nd Mall￿ge￿ent Coverning doeument The charity is controlled by its <foverning document, a deed of w and ¢onstitutes all uuillcorporated C]￿Lty. Rtsk managemeut The tn￿tteS have adutyts identifyandreviewthe risksto which the charity is ¢xposed alld to ensure approprith eontrols re irnplace to provide reasonabIe assuzance against fraud and error. Objeetives aDd Activities Objectives and aims The object of the charity is the Advan¢ellLent of education by the establisbm¢nt of a fimd to provide b￿SarieS for the benefit ofaDy pupil, foThller pupil att(V0rpote￿IialpupII oftbe School who in the opinion ofthe Truste¢s requires financial sistance to assist in tPLe fiwtheramoe or completion of their education. Aehievernent and Performanee Charitable activities The Bursary Fund paid £19,095 [2021.. ll 1,664) of School burgaries duLing the year to pupils of the s¢hool. Page I

THF ROYAL MASONIC SCHOOL FOR GIRLS BURSAKY FUND Report of the Trusttts for the year ended 31 Augutt 2022 (¢ontinued) Fin#ucial review Reserves poliey The charity produces regular budgets, mallagement accounts and forec&sts to ¢nsure that it has sufficient res¢ryes to continue to opeme. Currently reserves are at a level of £1.071,054 (2021-. £1,110,981). which is deemed adequate to support th¢ ciwity for the foreseeable fiiture. Public BeFJefit The TnLStee s have complied with the duty in section 17 of the Charities Act 2011 to have due regaTd for the Charity C¢)n]missi¢)n's g¢neral guidance on pubti¢benefiL 'Charities and Public Benefit.,. includingthe guidanc¢'Public Benefit: Running a Chaxity (PB2)'. The Trustces are responsible for preparing the Trustee, Report and the fJnanGial statements in accordance with applicable law and United Kingdo]n Accounting Stand￿ Iunited Kingdom Generally A￿epted Accounting P￿ctiCe.) The law applicabl¢ to charities irA Engldnd & Wales required the trustees to prepar¢ financial statements for each finon¢ial year which giv¢ a true and fairview of the State of the affairs ofthe charity aod of the incoming resowces aDd application of rcsources of the charity for that period. In preparing these financial statem¢nt4 the tn￿let9 are requirtd to: Select suitable accounting policies and then apply tbem consistently. Observe the methods aDd principles oll the ChaTities SORP,. Make j￿dgemellts and estitnates that ar¢ reasonable and prnden¢ State whether applicable 2ccountin(r staTKlarts have been followe4 subj¢rtto any ￿aterial departures disclosed and explained in the financial gtatements.. Prepare the thancial statements on tbe going concem basis unless it is inappropriate to presume that the charity will continue iti business. The In￿tteS are responsIbl¢ for keepino proper accounting r￿ordS that disclose with reasonAblc accuracy at aDy time the financial position of the charlty and enable them to eDsur¢ that the financial statements comply with the Charities Act 2011. They 8¢ also respousible for safeouarding the <t&sets of the ch￿lty and hence for tsking r￿Onable steps for th¢ prevention and d¢t¢ction of frauds and other irr¢gularities. 28 April 2023 Approv¢dby order of th¢ board of trustees on............................................. and SI￿)ed on its behalf by: S StaÈte- Trnstee Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND

I report on the accounts for the year ended 31 August 2022 which comprise the Statement of Financial Activities, Balance Sheet and related notes set out on pages four to nine.

Respective responsibilities of trustees and examiner

As the charity trustees 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 that:

1. 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

3. 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.

Shivani Kothari Independent Examiner For and on behalf of Moore Kingston Smith LLP

9 Appold Street London EC2A 2AP 18 May 2023 Date: .............................................

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THE ROYAL MASONIC SCHOOL FOR GIRI BURSARY FUND Ststement of Financial Actrviti¢5 for the year ellded 31 August 2022 2022 2021 Total Total Unrestrietcd Ullrestri¢ted funds Funds Note5 Income from: DonatiortYfrDm." Dollations received Investmernt itieome 59,726 14,543 82,770 12,700 Total 74,269 95,470 Expenditure oll: RaisingfvFzds.' Investmcnt mauager fees CharitAble acti￿tt¢S 4,239 21,840 4.024 34.159 Total 26,079 38.183 Net gainl(108s) on investsnellts 155 893 Net moY¢meDt ￿ndS (39,927) 213,180 Totsl Unrestricted fllDds at 31 August 2021 1.110.981 897.801 Totsl Unrestrict¢d fuuds at 31 August 2022 1071,054 1 110981 All gains and losses arising ID the period are included the Statement of Financial Activities aris¢ from continuing operations. The uotes on pages 6 to 9 forEn part of the fiuancial statements. Page 4

THE ROYAL MASOIYIC SCHOOL FOR GIRLS BURSARY FUI¥D BalaDee Sheet 8t31 August 2022 2021 202E Total funds Total funds Not¢5 Fixed assets Investm¢nts 836277 928,633 Currtut Assets Debtors C&8h at bank 37.565 199.957 15,559 169284 237,522 184,843 Creditors Amounts falling due within on¢ ye (2,745) (2,495) Net ellrrent assets 234.777 182.348 Total assets kss eurrent liabilities 1.071,054 1.110,981 Net assets ,071,054 1 110,981 FuDds Unrestricted funds 1.071,054 1 110.981 Totsl funds 1,071,054 1,110981 The notes on pages 6 to 9 foEm part of the finau¢ial statements. 28 April 2023 The financial stateEnents were approved by the Board of Trustees OJ............................................. attd w¢r¢ signed on its behalf by: S Stsite-Tntstee Page 5

THE ROYAL MASONIC SCHOOL FOR GIRLS Notes to the finanelal Ststernents for the y¢ar ended 31 August 2022 Aeeounting poJieie5 Basis of #CCOUDting The f￿¢la1 statements have been prepared in accordance Thith the Financial Reporting Standard app]ic8ble in the UK aud Repub]ic of treland IFRS 102), 3ncludin(T Update Bulletin l. The Chartty is a pllblic benefit entity for the purposes of FRS 102 and therefore the chdrity aIs0 prepared its financial statements ill accordance Mitb the Statement of Recommended Practice applitrable to chatities preparing tbeir a¢count8 in ac¢ordance the Finan¢ial Reporting St2ndard applicable in the UK and Republic of Ircland (The FRS 102 Charities SORP) 8J]d the ch￿ltieS Act 2011. The financial statements are prepared in sterling. which is the fi]nctional currency of the ￿MpanY. Monetary amounts in these finaneial statements are rouud¢d to tbe nearest pound. The principle accounting policies adopted in the preparation ofthe f￿ancial ststemeDts are set out b¢low. Going Concern Basts The trustees have assessed whcther the use of the troillg concern basis is appropriate andhave considered possible evellts or GonditioDS t]￿t miJ(r t cast sigDifirant dollbt tbe dbility of the Charitable entity to continue a5 a going conctm. The trustees have made this assessment for aperiod of dt least one yezr frojn the datc of approval of the financiat statements. In particularthc trustees have consideTedthe Lharitable enlity's foreaasts andprojections aud have iaken a￿O￿lt of pressures on donation alld investtnent income. After making enquiTies thc Irustees have ¢oncluded that there is a reasonable expectstion that the Ch￿l￿ble entity has adequate resources to continue i opeFdtiOTLal existence for the forcseeable future. The charithble entity therefore colltinues to adopt the goillg conc¢rn basis in preparing its financial statements. The Trustees have reTriewed any possibl¢ impacts tts the going conc¢rn of the Bursary Fund as a result of COVID 19, and not aware of any factors that would affect the going concern of the charity. Incoming resources tncume is ¢redited to the Stslemcnt of Finall¢Eal Activities arl a¢¢rudls basi$ when tbere 15 entitlement to tbe fi￿ds. the receipt ts probable and thc amount Can be measured re]iably. R￿D￿reeS expended Expenditure is accounted for on an accruals basis has been classified under Ileadings that aggregate all cost lated to th¢ category. Ilbere costs c8nTtot be directly attributed to particular ht&diw they have been allocated to activities on a basis consistent with th¢ use of resourGes. Gr￿ts offtred subjeLt to conditions which have not been ￿tt at the year end date are notsd a con]mittneTrt butnot accnLed as expellditure. Taxatioll The CTr￿1ty ts exempt from t&x on its Ch￿itable acti￿tIes. Fulld #CCOUDting The unrestrictedfunds Consists ofthose funds whichthe charttyrnay use in firtber&uce of its ¢baritsble objectives at tbe dis￿10￿ ofthe Trustees. Cash and Cash Eqllivalents Cash and cash eqUi￿l¢llts include cash at bank5 aJ)d in halld arld short terni deposits with amaturity date ofthree rnooths or less. Enve5tm¢nts tnvesttllents are statsd &% rnarketvalue, the aggregate ofandrea]isedoruDrealistdgains or losses beingTecogDised ID tbe Stst¢ment of Financial Activiti¢S. Page 6

THE ROYAL IWIASONIC SCHOOL FOR GIRLS Notls to the financi81 ststrments for the year ellded 31 August 2022 (continued) Finan¢i#l instruments The cbarity has elerted to apply the provisions of Section I I 'B￿le Fiuanciat Instrurnents, of FRS 102 to all of its financial instruments. Fillancial instrwneDts are recoguised in the eompally's balanc¢ sheet when the company becomes paty to the contractual proNisions of the instrumenL Financial t$5ets and liabititie$ are offset the net anwunts presented in the finau¢ialstateEnents, whenthere is a legallyenfor¢¢ablerigbtto set offthe reco￿lsed amounts and (here 1$ an intentionto settle on 2n£tbasis ortorealise the 18setaDdsettle the liabilAtysimultaneou51y. Critical aeeounting esti￿aleS and areas of jlldgemellt tn the ￿eW of th¢ ￿Ste¢S ill applying the accouniing polici¢s adoptsl no critical accounting estimates and judgements were reqU￿d that have a sigtiifiwt cffect on the amounts recogjised in the statements nor do #ny estimaies or assumptions made carry a significant risk of material adji]stULent in the next fmancial year. Investment ancome 2022 2021 Other fixed asset investtllents Otber fixed asset investtuents- UnFtI 1,922 12,621 14,543 1,770 10.930 12,700 Bursaries 2022 2021 Bursaries GOv￿nance costs (see below) 19,095 2.745 21,840 31,664 2,495 34,159 Govern2nce costs 2022 2021 Accountiti(T f¢e5 (independent examinatiorn) 2.745 2,745 2,495 2,495 Employees The charity ]Las ncTr enjployees (2021Toue). Page 7

THE ROYAL D*tASONIC SCHOOL FOR GIRLS BURSARY FUND Notes to the Financial Ststeffjents for the year ejjded 31 August 2022 (coutinued) Fixed asset investments Ltsted aDYestments 2022 Listed investments 2021 Market Value At I Septernb¢r 2021 Additions Disposals Revaluations 896.47J 96,836 (75,775) (88,117) 829,417 744,961 143,821 (147,843) 155,5J4 896,473 Cash 6,860 32.160 Ai 31 August 2022 836,277 928.633 2022 2021 Historic cost of iuvestsnents 667,509 637,483 Debtors: Amounts falling due within olle year 2022 2021 The RoyaI Masonic School for Girls OtberDebtors 37.565 15,559 37,565 15,559 Page 9

THE ROYAL LI￿AsONIc SCHOOL FOR GtRLS BIJRSARY FUND Notes to the Financial Ststernents for the year ellded 31 Augllst 2022 (continlled) Credttors: Amount falling wlthin due within oue year 2022 2021 Other credito 2,745 2,495 2,745 2,495 I￿*veMent Funds Brougbt fonvard fi￿dS Gatlld(Loss) Carried forW￿d FL￿dS Income E￿endi￿￿e illvestnent UDrestricted fi]nds 1.110.981 74269 (26,079) (88,117) 1,071,054 Totsl Funds 1.110 981 88.117 Related party traDsa¢tions No tntstees received remuneration orreimbursed expenses during the year (2021: Dil). io. Finaneial and Capital Commitments. The charity has llo outstanding financial or capital conllnitments. UltimAte Controlling Party The charity is a subsidiary undertaking of The Royal ￿oni¢ School for Girl$ (charity nujnber 276784). a Ch￿itable company incorporated in England and Wales (cornpany number 01339867), but way of its shared Trustees. The registered adthss of th¢ ch￿itable co￿panY is Rickntallsworth P￿K RICk￿d￿s￿Orth. HertfOr￿￿ir¢. WD3 4HF. Th¢ ¢h￿lty has taken advantage oftbe exejnption und¢r FRS 102 of disclosing anyrelatedpaty trank%tions with its pa￿nt Page 9

THE ROYAL IVtASONIC SCHOOL FOR GIRLS BiIRSARY FUND Detailed Stste]nent of FiDanci21 Activities for the year ended 31 August 2022 2022 2021 Income from: Donationg from Donations Gift aid 59,726 71,628 11,142 59.726 82,770 Investment iDeome Investment income- Fti tDvesth¢nt illcome- UDFU 1.922 12.621 1,770 14.543 12.700 Total illeome 74,269 95,470 Expenditure on: Charitable ACtÈvities Grants to individuals 19,095 19.095 31,664 GovenEAnce costs Accountancy Investrment Jnanagement f¢es 2,745 4.239 2,495 4,024 Total e￿endItllre 26.079 38,183 F4et tntome befor¢ gains and losses 48.190 57,287 GginllLo$s) olinvestment Ga1￿1[Lo$S) on fixed asset investments (88,117) 155.893 Net ipJton)el(Loss) (39,92 213,180 P￿e 10 This doe5 not forrD part of the statutory financial statements