REGISTERED CHAIUTY NUMBER: 1106076 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND THE ROY AL MASONIC SCHOOL FOR GIRLS BURSARY FUND Contents of the Financial Statements for the ear ended 31 Au ust 2024 Page Report of the Trustees Ito2 Independent Examiner's Report Siatem¢nt of Financial Activities Balance Sheet Notes to the Financial Statements 6t09 Detailed Statement of Financial Activities io THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND Report of the Trustees for the year ended 31 August 2024 The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. The financial statements have been prepared in accordance with the applicable law and United Kingdom Account Standards (United Kingdom Generally Accepted Accounting Practice) in¢luding FRS 102 Charities SORP. Reference and administratlve detalls Registered Charity number 1106076 Principal #ddress Rickmansworth Park Rickmansworth Hertfordshire WD3 4HF Trustees S Staite I Williams R Garvey Independent examiner AdaTn Fullcrton Chartered Accountant 9 Appold Street London EC2A 2AP Investment Manager Investec Wealth & Investment Limited (from 14 April 2025 this will be renamed as Rathbone Investment Management Limited) 30 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. Risk management The tnistees have a duty to identify aiid review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide ieasonabl¢ assurance against fraud and error. Objective5 and Activitie5 Objectives and aims The object of the charity is the advancement of education by the establishment of a fund to provide bursaries foT the benefit of any pupil, fornier pupil aD(Vor potential pupil of the School who in the opinion of the Trustees rcquires financial 3sSlStance to assist in the furtherance or completion of their education. Achievement and Performance Charitable activities The Bursary Fund paid £25,708 (2023: £19,815) of School bursaries during the year to pupils of the School. Page I THE ROYAL IIIASONIC SCHOOL FOR GIRLS BURSARY FUND Report of the Trustees for the year ended 31 August 2024 (continued} Finan¢i21 revieiv Reserves poliey The charity produce5 regular budgets, management accounts and forecasts to ensure that it has sufficient reseTves to continue to operate. Currently reserves are at a level of £1.273.202 (2023 £1,109,643), which is deemed adequate to support the charity for the foreseeable future. Public Benefit The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard for the Chllrity Commission's general guidan¢e on public benefit, 'Charities and Public Benefit., including the guidance 'Public Beiiefit.. Running a Charity (PB2)'. The Trnstees are responsible for preparing the Trustee, Report and the financial statements in accordance with applicable law and United Kingdom Accounting staiidard (United Kingdom Generally Accepted Accounting Practice.) The law applicable to charitie5 in England & Wales required the trnstees to prepare financial statements for each fInancial year which give a true and fair view of the state of the affairs of the cliarity and of the incoming resources and application of resources of the charity for that period. In preparing these fmancial statements, the trnste¢s are r¢quired to.. Select suitable accounting policies and then apply them ¢on51Stently' Observe the methods and principles on the ChaTlties SORP. Make judgements and estimates that are Teasonable and prudent; State whether applicable accounting standards hav¢ 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 ar¢ responsible for keeping proper accounting records that disclose with reasonable accuracy at any tim¢ th¢ financial position of the charity and enable them to ensure that the fillancial statem¢nts comply with the Charities Act 201 l. They are also responsible for safeguarding the assets of the charity and hence for takn.ng reaso1￿ble steps for the pr¢v¢ntion and detection of frauds and other irregularities. Approved by order of the board of trustees on ...... and signed on its behalf by: S Staite - Trustee Page 2 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROYAL MASONIC SCHOOL FOR CIRLS BURSARY FUND I report on the accounts for the year ended 31 August 2024, which comprise the Statement of Financial Activities. Balance Sheet and related notes set out on pxg¢s four to nine. Respective responsibilities of trustees and examiner As the charity tnlstees you are responsible for the preparation of the accounts ill accordance with the requirem¢nts 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 com¢ to my attention in connection with the exarnination giving me cause to believe that.. Accounting records were not kept in respect of the Trust as required by section 130 of the Act- or The accounts do not accord with those records. OT the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have con]e across no other matters in connection with the examination to whicb att¢ntion should be drawn in this report in order to enable a proper understanding of th¢ accounts to b¢ r¢a¢hed. Adam Fullerton Indepgndent Examiner For and on behalf of Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP Page 3 THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND Statement of Financial Activities for the year ended 31 August 2024 2024 2023 Total Unrestricted funds Tot21 Unrestricted fun(k Notes Income from: Donations Received 72,216 80,833 19,108 99.941 Investn%nt incon Totsl 107,372 nditure on: RAising funds.. Investmenl managerfees Charitable activities 4,062 3.825 23,952 27,777 Total 33,538 Net gainlooss) on inVestn￿ntS 89,7 33.575 Net ￿￿eMent in funds 163,559 38,589 Total Unrestricted fun(b at 31 August 2023 1,109,643 1,071,054 Total Unrestrictedfund5 at31 August2024 1273,202 1,109.643 All gains and losses arising in the period are included in the Statement of Financial Activiti¢s and 3rise from continuing operations. The notes on pages 6 to 9 forni part of the fmancial statements. Page 4 THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND Balance Sheet at 31 August 2024 2024 2023 Totsl fun( Total Notes Flxed Assets Investnrnts 884,540 798,877 CurrentAssets Investnrnts 300,LNXI 52.770 39,66A) 392,430 Debtors 69.358 244,996 314,354 Cash at Bank Creditors AnK)unts falling due within one year (3,768) {3.588) Netcurrent assets 388,662 310,766 Total asssets less current lialxlities 1,273,202 1,109.643 Net assets 1,273,202 1,109,643 Unrestricted Funds 1,273,202 1,109,643 Total Fun(b 1273,202 1,109.643 The notes on pages 6 to 9 lomL part of the financial stat¢m¢nts. The financial statements weT¢ approved by the Board of Trustees on ..... belialf by.. and were signed on its S Staite -Trustee Page 5 THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND Notes to the financial statements for the year ended 31 August 2024 Accounting policies Basi$ of 2ccountRng 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 l. The Charity is a public benefit entity for tlie pu￿OseS 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 havc assessed whether the use of the going concern basis is appropriate and have ¢onsidered possible events or conditions that might cast signifIcant doubt on the ability of the charitable entity to continu¢ 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 f￿ancial statements. In particular, the t￿SteeS have considered the charitable entity's forecasts and projections and have taken acLount of pressures on donation and investment income. After making enquiTies 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 chaiitable entity therefore continues to adopt the going concern basis in prepaTing its financial statements. Incomlng resources In¢om¢ is credited to the Statemeiit of Financial Actjvities on an accruals basis when there is ¢ntitlem¢nt to the funds. the receipt is probable and the amount can be measured Teliably. 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 lo 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 funds which the charity may use in furtberance of its charitable objectives at the discretion of the Tmstees. Cash and Cash Equiv4lent$ Cash and cash equivalents include cash at banks and in hand and short tenn deposits with a maturity date of three months or less. Investments Investrnents are stated as market value. the aggregate of and realised or unrealised gains or losse5 being recognised in the Statement of Financial Activities. Page 6 THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUIYD Notes to the financial statements for the year ended 31 August 2024 (continued) Financial instruments The charity has eleeted to apply the provisions of Section I I 'Basic Financial Instruments, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the compkny becomes party to the contractual provisions of the Ins￿lment. Financial assets and liabilities are offset, with the net amounts presented in the fjnancial statements. whei) there is a legally enforceable right to set off the recognised amounts and theTe 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 trnstees iii applying the accounting policies adopted, no critical accounting eslimates and judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made cally a significant risk of material adjustment in the next financial year. 2. Investment income 2024 2023 Other fi￿d asset itivestnrnt- Fll Other fixed asset inveslnrnt- UnFtI InVest￿nt Interest 1.351 18,543 15,262 35.156 3711 15,397 19,108 3. Bur5arles 2024 2023 Bursaries (k)vernance costs 25,708 3,768 29.476 19,815 4,137 23,952 Employees The charity has no employees (2023.. none). Page 7 THE ROYAL MASONIC SCHOOL FOR GIRLS BURSARY FUND Notes to the Financial Statements for the year ended 31 August 2024 {contillued) Fixed asset investments Market V21ue L4sted in￿s(mentS Listed in￿StMents 2024 795,(1)9 63,195 (85,870) 89,725 862,149 2023 829,417 169,769 {170,512) (33,575) 795.099 At Isl Septenkner 2023 Additions DisposaL8 Revaluations Cash 22J91 3,778 At 31st August 2024 884,540 798,877 6. Debtors: Amounts falling due within one year 2024 2023 The Royal Masonic School for (ir]s Other Debtors 45,403 7.367 69,358 69,358 7. Creditors: Amounts falling duc within one year 2024 2023 Other creditors 3,768 3.768 3.588 3.588 8. Movement in Funds Brought forMard fun GainsI{iA)ss￿n In￿Stment C4rriedforward fun(k Income n8 15,208 72,216 80.833 Crift aid 80,833 IniEstment Rneome Invest￿￿nt Inco￿ - FI[ 1,351 18,543 15,262 35,156 3,711 15,397 Jnvestn*nt incon* - UnFII Inveslnrnt Interest 19,108 Total income 107.372 99,941 nditure on: Charitaile activities ants to individuals 25,708 19,815 G)wrnance costs Accountaiicy Invest￿nt nknagenrnt fees 3,768 4,062 4,137 3,825 Totsl ex￿nditUre 33.538 27,777 Net income Ixfore gains and losses 73,834 72,163 Gainl(kn5) on inRstrnents CAin/(LDss) on fixed asset investnrnts 89,725 (33,575) Net incomel(Lms) 163,559 38,589 Page 10 This does not forni part of the statutory financial statements