REGISTERED CHARITY NUMBER: 1106076 

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## REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 FOR 

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## THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 


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THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

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## Contents of the Financial Statements for the year ended 31 August 2023 


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|Report of the|Trustees|1|to2|
|Independent|Examiner's|Report|3|.|
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|Statement|of Financial|Activities|4|
|Balance|Sheet|5|
|Notes|to|the|Financial|Statements|6|to9|
|Detailed|Statement|of Financial Activities|10|

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## THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND Report of the Trustees for the year ended 31 August 2023 

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The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. The financial statements have been prepared in accordance with the applicable law and United Kingdom Account Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 Charities SORP. , Reference and administrative details Registered Charity number : 

## Reference and administrative details 

Registered Charity number 1106076 

Principal address Rickmansworth Park Rickmansworth Hertfordshire WD3 4HF Trustees P Dyke S Staite I Williams R Garvey 

Independent examiner Adam Fullerton Chartered Accountant 9 Appold Street London EC2A 2AP 

Investment Manager Investec Wealth & Investment Lid 2 Gresham Street London : EC2V 7QN Structure, Governance and Management Governing document The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. ) 

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Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate. controls are in place to provide reasonable assurance against fraud and error. 

Objectives and Activities : 

TheObjectivesobject ofand theaimscharity is the advancement of education by the establishment of a fund to provide bursaries; for the benefit of any pupil, former pupil and/or potential pupil of the School who in the opinion of the Trustees requires financial assistance to assist in the furtherance or completion of their education. : Achievement and Performance ; 

## Achievement and Performance 

Charitable activities 

The Bursary Fund paid £19,815 (2022: £19,095) of School bursaries during the year to pupils of the school. 

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## THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

## Report of the Trustees for the year ended 31 August 2023 (continued) 

## Financial review 

## Reserves policy 

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The charity produces regular budgets, management accounts and forecasts to ensure that it has sufficient reserves to continue to operate. Currently reserves are at a level of £1,109,643 (2022: £1,071,054), which is deemed adequate to support the charity for the foreseeable future. 

## Public Benefit 

The Trustee s have complied with the duty in section 17 of the Charities Act 2011 to have due regard for the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit.’, including the guidance ‘Public Benefit: Running a Charity (PB2)’. 

The Trustees are responsible for preparing the Trustee’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting standard (United Kingdom Generally Accepted Accounting Practice.) The law applicable to charities in England & Wales required the trustees to prepare financial statements for each financial year which give a true and fair view of the state ofthe affairs ofthe charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- .Observe the methods and principles on the Charities SORP: 

- Make judgements and estimates that are reasonable and prudent; 

- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- 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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of frauds and other irregularities. 

## Approved. by order ofthe board oftrustees on ........50.7. OL Ou. and signed on its behalf by: 

§ Staite - Trustee 

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## ' 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 2023, 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’). ; 

{report in respect ofmy examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | 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. 

T 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. 


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Moore Kreger Srzen LLP<br>**----- End of picture text -----**<br>


Adam Fullerton 

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Independent Examiner For and on behalf of Moore Kingston Smith LLP 

9 Appold Street London . EC2A 2AP 

## Date: 27103/2024 

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THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

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## Statement of Financial Activities for the year ended 31 August 2023 


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|2023|2022|
|Total|Total|
|Unrestricted|Unrestricted|
|funds|funds|
|Notes|‘|£|£|
|‘Income|from:|
|Donationsfrom;|
|Donations|Received|80,833|59,726|
|Investment|income|;|2|19,108|14,543|
|Total|.|99,941|74,269|
|Expenditure|on:|
|Raisingfunds:|
|Investment manager fees|3,825|4,239|
|Charitable|activities|23,952|21,840|
|Total|27,777|°|26,079|
|Net|gain/(oss) on|investments|(33,575)|(88,117)|
|Net movement|in|funds|38,589|(39,927)|
|Total Unrestricted funds|at 31|August 2022|1,071,054|1,110,981|
|Total|Unrestricted funds|at 31|August 2023|1,109,643|1,071,054|

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All gains and losses arising in the period are included in the Statement of Financial Activities and arise from continuing operations. . 

- The notes on pages 6 to 9 form part of the financial statements. 

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THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

## Balance Sheet at 31 August 2023 

## eee 


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|||||2023|2022|
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|||||Total funds|Total funds|
|||:|Notes|£|£|
|FixedAssets||||||
|Investments|||5|798,877|836,277|
|Current Assets||||||
|Debtors|||6|69,358|37,565|
|Cash atBank||||244,996|-199,957|
|||||314,354|237,522|
|Creditors|.|||||
|Amounts fallingdue within oneyear|||7|(3,588)|(2,745)|
|NetCurrent assets||||310,766|234,777|
|Total asssets less current|liabilities|||1,109,643|1,071,054|
|Netassets||||1,109,643|1,071,054|
|Funds||||||
|Unrestricted Funds||||1,109,643|1,071,054|
|TotalFunds||||1,109,643|1,071,054|



The notes on pages6 to 9 form part of the financial statements. The 26 /03/ ly financial statements were approved by the Board of Trustees on... (fi Zens and were signed on its behalf by: . NY cS t S Staite -Trustee 

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## THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

## Notes to the financial statements for the year ended 31 August 2023 

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1. Accounting policies 

Basis of accounting , The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), including Update Bulletin 1. The Charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP) and the Charities Act 2011. 

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. 

The principle accounting policies adopted in the preparation of the financial statements are set out below. 

## Going Concern Basis 

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable entity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular, the trustees have considered the charitable entity’s forecasts and projections and have taken account of pressures on donation and investment income. After making enquiries the trustees have concluded that there is a reasonable expectation that the charitable entity has adequate resources to continue in operational existence for the foreseeable future. The charitable entity therefore continues to adopt the going concer basis in preparing its financial statements. 

## Incoming resources 

Income is credited to the Staternent of Financial Activities on an accruals basis when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably. 

## Resources expended 

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 

The unrestricted funds consists of those fimds which the charity may use in furtherance of its charitable objectives at the discretion of the Trustees. 

## Cash and Cash Equivalents 

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less. 

## Investments 

Investments are stated as market value, the aggregate ofand realised or unrealised gains or losses being recognised m the Statement of Financial Activities. . : 

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## THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

## Notes to the financial statements for the year ended 31 August 2023 (continued) 

## Financia] instruments 

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The charity has elected to apply the provisions of Section 11 ‘Basic Fmancial Instruments’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable rightto set offthe recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

## Critical accounting estimates and areas of judgement 

In the view of the trustees in applying the accounting policies adopted, no critical accounting estimates and judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. 

## 2. Investment income 

|||||2023|2022|
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|Otherfixed|asset|investment|-FI|3711|1,922|
|Otherfixed|asset|investment|-UnFII|15,397|12,621|
|||||19,108|14,543|



|3.|Bursaries||||
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||||2023|2022|
||||£|£|
||Bursaries||19,815|19,095|
||Govemance|costs|4,137|2,745|
||||952|21,840|



## 4. Employees 

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The charity has no employees (2022:none). 

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## THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

## Notes to the Financial Statements for the year ended 31 August 2023 (continued) 

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## 5. Fixed asset investments 

## Market Value 

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|Se|Listed|Listed|
|:|inves|tments|investments|
|2023|2022|
|At|Ist|September 2022|829,417|896,473|
|Additions|169,769|96,836|
|Disposals|(170,512)|(75,775)|
|Revaluations|(33,575)|(88,117)|
|795,099|829,417|
|Cash|3,778|6,860|
|At 3lst August 2023|798,877|836,277|

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## 6. Debtors: Amounts falling due within one year 


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|2023|2022|
|£|£|
|The Royal Masonic School for Girls|69,358|37,565|
|Other Debtors|7|—|

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## THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND 

## Notes to the Financial Statements for the year ended 31 August 2023 (continued) 


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2023 2022<br>£ £<br>Other creditors , 3,588 2,745<br>3888 2,785<br>Movement in Funds<br>Brought forward Gains/(Loss)on Carried forward<br>fands Income Expenditure investment funds<br>£ £ z : £ z<br>Unrestricted funds 1,071,054 99,941 (27,777) (33,575). —«i1, 109,643<br>Total Funds 1,071,054_ 99,941_ (27,777) (33,575) 1,109,643<br>**----- End of picture text -----**<br>


## 8. Movement in Funds 

## 9. Related party transactions 

No trustees received remuneration or reimbursed expenses during the year (2022: nil). 

## 10. Financial and Capital Commitments. 

The charity has no outstanding financial or capital commitments. 

## 1]. Ultimate Controlling Party 

The charity is a subsidiary undertaking of The Royal Masonic School for Girls (charity number 276784), a charitable company incorporated in England and Wales (company number 01339867), by way of its shared Trustees. The registered address of the charitable company is Rickmansworth Park, Rickmansworth, Hertfordshire, WD3 4HF. 

The charity has taken advantage of the exemption under FRS 102 of disclosing any related party transactions with its parent. . 

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