REGISTERED CHARITY NUMBER: 1112056
The Croydon High School Scholarship Trust
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2025
Shaw Gibbs Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA
The Croydon High School Scholarship Trust
Contents of the Financial Statements for the year ended 31 July 2025
| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 15 |
| DetailedStatementofFinancialActivities | 16 |
The Croydon High School Scholarship Trust
Report of the Trustees for the year ended 31 July 2025
The trustees present their report with the financial statements of the charity for the year ended 31 July 2025. 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 Trust's objectives are:
(1) to advance the education of the pupils of Croydon High School ("the School") as may be selected and approved by the trustees ("the Trust Object"), and
(2) through the application of the Guillou Endowment as defined in Section 31(1) of Part 3 of the charity's Constitution, to advance and encourage musical education within the School but giving priority to the needs of pupils who show an aptitude and dedication for music in circumstances where it is found that their family financial status is such that they are unable to afford extra music lessons provided at the School by its teaching staff ("the Fund Object").
Public benefit
In planning the activities of the charity, the trustees have considered the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the Trust awarded scholarships to pupils of the School, and made awards out of the Guillou Endowment for music tuition costs. This year the Trust also contributed to the cost of two pianos and two Clavinovas for the School.
Investment performance
The charity's investments continued to provide investment income and gains consistent with expected performance.
FINANCIAL REVIEW
Financial position
The financial position of the charity is set out in the Statement of Financial Activities and Balance Sheet and the related notes, which have been prepared in accordance with statutory requirements of the Charities Act 2011 and SORP (FRS 102).
Principal funding sources
The charity's usual funding source is its investment income.
Investment policy and objectives
Funds are deposited with CAF Bank. Investments are held in M&G Investments’ Charifund and St James's Place Unit Trust.
Reserves policy
The charity aims to hold in reserves sufficient funds to meet its objectives.
Income generated by the Trust's investments is used to fund the bursaries and musical activities of the School. Only in very exceptional circumstances is the investment capital used as the latter should be maintained to ensure the survival in perpetuity of the Trust.
Page 2
The Croydon High School Scholarship Trust
Report of the Trustees for the year ended 31 July 2025
Going concern
The financial statements have been prepared on the going concern basis as in the opinion of the trustees there are no material uncertainties about the charity's ability to continue for the foreseeable future.
FUTURE PLANS
The charity will continue to award scholarships and make payments for music tuition and costs related to educational advancement.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the Constitution, and is an unincorporated charity.
Recruitment and appointment of new trustees
The method of appointment of new trustees is set out in the Constitution. The Trust in general meeting or the trustees may appoint new trustees.
The trustees seek to ensure that necessary areas of expertise are addressed by members of the charity, and where such expertise is not available amongst its members that such expert advice is sought on behalf of the trustees.
Organisational structure
The Trust and its property shall be managed and administered by a committee comprising the Officers and other members elected in accordance with the Constitution. The Officers and other members of the committee shall be the trustees of the Trust and are together called "the trustees".
The Trust shall have the following Officers: a chair, a secretary and a treasurer.
The number of trustees shall be not less than four and not more than fourteen.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed, in particular those related to the operations and finances of the charity and child and vulnerable persons protection, and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1112056
Principal address
14 Garrard Road Banstead Surrey SM7 2ER
Trustees C Blease Treasurer JH R Baker N Lipczynski Chairman A Davies V Harvey C Kelso (appointed 23 June 2025) G Brackenbury (appointed 23 June 2025)
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The Croydon High School Scholarship Trust
Report of the Trustees for the year ended 31 July 2025
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REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Brian Clifford, FCA
Institute of Chartered Accountants in England and Wales
Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Approved by order of the board of trustees on .......f........../....2026oy | O? and signed. on .its behalf by:
VAN LipcZynski - Ginairman fn
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Independent Examiner's Report to the Trustees of The Croydon High School Scholarship Trust
| report to the trustees on my examination of the accounts of The Croydon High School Scholarship Trust (the charity), charity number 1112056, for the year ended 31 July 2025, which are set out on pages 5 to 15.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
-
It is my responsibility to:
-
e examine the accounts under section 145 of the Charities Act, e to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and e to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
e the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
e the accounts did not accord with the accounting records; or
-
e the accounts did 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.
| 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.
Brian Clifford, FCA Institute of Chartered Accountants in England and Wales
Shaw Gibbs Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA
Date:..!% Mack 2026
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The Croydon High School Scholarship Trust
Statement of Financial Activities for the year ended 31 July 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| fund | fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||||
| FROM | ||||||
| Investment income | 3 | 24,710 | 3 | 22,687 | 47,400 | 42,862 |
| Total | 24,710 | 3 | 22,687 | 47,400 | 42,862 | |
| EXPENDITURE ON | ||||||
| Charitable activities | 4 | |||||
| Charitable activities | (17,323) | (12,982) | - | (30,305) | (22,573) | |
| Net gains/(losses) on | 16,023 | - | 9,436 | 25,459 | 60,624 | |
| investments | ||||||
| NETINCOME/(EXPENDITURE) | 23,410 | (12,979) | 32,123 | 42,554 | 80,913 | |
| Transfersbetween funds | 11 | 852 | 24,777 | (25,629) | - | - |
| Net movement in funds | 24,262 | 11,798 | 6,494 | 42,554 | 80,913 | |
| RECONCILIATION OF FUNDS | ||||||
| Total funds broughtforward | 533,575 | 213,386 | 208,422 | 955,383 | 874,470 | |
| TOTAL FUNDS CARRIED | ||||||
| FORWARD | 557,837 | 225,184 | 214,916 | 997,937 | 955,383 |
The notes form part of these financial statements
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The Croydon High School Scholarship Trust
Balance Sheet
31 July 2025
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|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Endowment|Total|Total|
|fund|fund|fund|funds|funds|
|Notes|£|£|£|£|£|
|FIXED|ASSETS|
|Investments|7|524,406|-|378,930|903,335|877,876|
|CURRENT ASSETS|
|Debtors|8|-|224,365|-|224,365|211,736|
|Cash|at|bank|52,713|819|60,352|113,884|85,358|
|52,713|225,184|60,352|338,249|297,094|
|CREDITORS|
|Amounts|falling|due|within|one|
|year|9|(19,283)|-|(224,365)|(243,648)|(219,587)|
|NET CURRENT ASSETS/(LIABILITIES)|33,430|225,184|(164,013)|94,601|77,507|
|TOTAL ASSETS|LESS|CURRENT|
|LIABILITIES|557,837|225,184|214,916|997,937|955,383|
|NET ASSETS|557,837|225,184|214,916|997,937|955,383|
|FUNDS|10|
|Unrestricted|funds|557,837|533,575|
|Restricted|funds|225,184|213,386|
|Endowment|funds|214,916|208,422|
|TOTAL FUNDS|997,937|955,383|
|The|.|.|.|:|O¢/o|ES|
|financial|statements|were|approved|by the the|Board of Trustees of Trustees Trustees|and|authorised|for|issue|ON|«0...|ofeseetieeefees-|2026|
|and|were|signed/on|its|behalf|by:|
|sti|fprcdaa|Qes|Bi|giaike|asedsseseaeiscenceenseentbenceseseeseOttee|
|N|Lipezyn$ki|— Chairman Chairman|C|Blease|- Trustee|
----- End of picture text -----
----- Start of picture text -----
The . . .
financial statements were approved by the the Board of Trustees of Trustees Trustees and authorised
and were signed/on its behalf by:
sti fprcdaa Qes Bi giaike
N Lipezyn$ki — Chairman Chairman C Blease
----- End of picture text -----
The notes form part of these financial statements
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The Croydon High School Scholarship Trust
Notes to the Financial Statements
for the year ended 31 July 2025
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Going concern
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 charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. The charity's ability to continue as a going concern is dependent on its success in raising funds from investments, donations and legacies. The trustees have determined there are no material uncertainties as to the charity's ability to continue as a going concern in the foreseeable future and therefore believe it remains appropriate to prepare the financial statements on a going concern basis.
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 costs 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.
Scholarships are expensed at the time of granting.
Taxation
The charity is exempt from tax on its charitable activities.
The charity is not registered for VAT and as such expenditure is shown inclusive of irrecoverable VAT.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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continued...
The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued
for the year ended 31 July 2025
1. ACCOUNTING POLICIES - continued
Fund accounting (continued)
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.
Endowment funds come with the specific instruction that only the income generated by the money within the fund can be spent, and not the capital.
Investment income, gains and losses are allocated to the appropriate fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Current assets
Short term deposits (known as "reserves") include cash held on deposit with CAF Bank in the CAF Gold Capital Reserve Account.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Currency
The charity's functional and presentational currency is pounds Sterling (GBP).
2. DONATIONS AND LEGACIES
The charity received no donations or legacies in the current or previous year.
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continued...
The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued
for the year ended 31 July 2025
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2025 | 2024 | |
| £E | £ | |
| Dividend income | 30,413 | 33,676 |
| Deposit account interest | 9,337 | 9,186 |
| Other income | 7,650 | a: |
| 47,400 | 42,862 |
Other income represents income units that were incorrectly switched into accumulation units such that no income was received by the fund for a period of nearly 6 months. In order to correct this, the relevant units accumulated were sold to generate income.
4, CHARITABLE ACTIVITIES COSTS
| Direct | Support | |||
|---|---|---|---|---|
| costs | costs | Totals | ||
| £ | £ | £ | ||
| Charitable | activities | 27,328 | 2,977 | 30,305 |
| Unrestricted | Restricted | Endowment | 2025 | |||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Charitable activities: | ||||||
| Scholarship Trust Awards | 14,406 | - | - | 14,406 | ||
| Music tuition | - | 12,922 | = | 12,922 | ||
| 14,406 | 12,922 | = | 27,328 | |||
| Support costs: | ||||||
| Bank charges | 60 | 60 | - | 120 | ||
| Independent Examiner's fees | 877 | - | - | 877 | ||
| Legal fees | 1,980 | - | - | 1,980 | ||
| 2,917 | 60 | - | 2,977 | |||
| 17,323 | 12,982 | - | 30,305 |
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continued...
The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued
for the year ended 31 July 2025
4. CHARITABLE ACTIVITIES COSTS - continued
| Comparatives | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | 2024 | |||
| £ | £ | £ | £ | |||
| Charitable activities: | ||||||
| Hardship Awards | 3,000 | - | - | 3,000 | ||
| Music tuition | - | 14,566 | - | 14,566 | ||
| Contribution to cost of | - | 4,035 | - | 4,035 | ||
| musical instruments | ||||||
| 3,000 | 18,601 | ~ | 21,601 | |||
| Support costs: | ||||||
| Bank charges | 60 | 60 | - | 120 | ||
| Independent Examiner's fees | 852 | - | - | 852 | ||
| 912 | 60 | - | 972 | |||
| 3,912 | 18,661 | = | 22,573 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.
Trustees’ expenses
There were no trustees' expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.
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continued...
The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued for the year ended 31 July 2025
| 6. COMPARATIVES FORTHE |
STATEMENTOF FINANCIAL ACTIVITIES | STATEMENTOF FINANCIAL ACTIVITIES | |||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| fund | fund | fund | funds | funds | |
| £ | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | |||||
| FROM | |||||
| Investment income | 21,269 | 3 | 21,590 | 42,862 | 41,276 |
| Total | 21,269 | 3 | 21,590 | 42,862 | 41,276 |
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Charitable activities | (3,912) | (18,661) | - | (22,573) | (34,565) |
| Net gains/(losses) on | 30,013 | - | 30,611 | 60,624 | (41,786) |
| investments | |||||
| NETINCOME/(EXPENDITURE) | 47,370 | (18,658) | 52,201 | 80,913 | (35,075) |
| Transfers between funds | 828 | 14,659 | (15,487) | - | - |
| Netmovement in funds | 48,198 | (3,999) | 36,714 | 80,913 | (35,075) |
| RECONCILIATION OF FUNDS | |||||
| Total funds broughtforward | 485,377 | 217,385 | 171,708 | 874,470 | 909,545 |
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 533,575 | 213,386 | 208,422 | 955,383 | 874,470 |
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The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued for the year ended 31 July 2025
7. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Unlisted | |
| investments | |
| £ | |
| MARKETVALUE | |
| At 1 August 2024 | 877,876 |
| Revaluations | 25,459 |
| At 31 July 2025 | 903,335 |
| NET BOOK VALUE | |
| At 31 July 2025 | 903,335 |
| At31July2024 | 877,876 |
There were no investment assets outside the UK.
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Interfund loans | 224,365 | 211,736 | |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Interfund loans | 224,365 | 211,736 | |
| Accrued expenses | 19,283 | 7,851 | |
| 243,648 | 219,587 |
Page 12
The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued
for the year ended 31 July 2025
10. MOVEMENT IN FUNDS
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|1/8/24|in|funds|funds|31/7/25|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|533,575|23,410|852|557,837|
|Restricted|funds|
|The|Peggy James|Guillou|Awards|Fund|213,386|(12,979)|24,777|225,184|
|Endowment|funds|
|The|Peggy James|Guillou|Endowment|Fund|208,422|32,123|(25,629)|214,916|
|TOTAL FUNDS|955,383|42,554|-|997,937|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Gains|on|Movement|
|resources|expended|investments|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|24,710|(17,323)|16,023|23,410|
|Restricted|funds|
|The|Peggy James|Guillou|Awards|Fund|3|(12,982)|-|(12,979)|
|Endowment|funds|
|The|Peggy|James|Guillou|Endowment|Fund|22,687|-|9,436|32,123|
|TOTAL FUNDS|47,400|(30,305)|25,459|42,554|
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The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued for the year ended 31 July 2025
10. MOVEMENT IN FUNDS - continued
| Comparatives for movement in funds | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| At 1/8/23 | in funds | funds | 31/7/24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 485,377 | 47,370 | 828 | 533,575 |
| Restricted funds | ||||
| The PeggyJames Guillou Awards Fund | 217,385 | (18,658) | 14,659 | 213,386 |
| Endowment funds | ||||
| The PeggyJames Guillou Endowment Fund | 171,708 | 52,201 | (15,487) | 208,422 |
| TOTAL FUNDS | 874,470 | 80,913 | - | 955,383 |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 21,269 | (3,912) | 30,013 | 47,370 |
| Restricted funds | ||||
| The PeggyJames Guillou Awards Fund | 3 | (18,661) | - | (18,658) |
| Endowment funds | ||||
| The PeggyJames Guillou Endowment Fund | 21,590 | - | 30,611 | 52,201 |
| TOTALFUNDS | 42,862 | (22,573) | 60,624 | 80,913 |
The Peggy James Guillou Endowment Fund
This fund comprises a permanent endowment received under the terms of a Deed of Gift dated 15 April 2005 from Marc Alfred Yves Guillou whose income, after allowing for the maintenance of the fund's capital in real terms, is used to finance the Peggy James Guillou Awards Fund.
The Peggy James Guillou Awards Fund
This fund comprises income received from the Peggy James Guillou Endowment Fund that the trustees may apply for the purpose of the Fund Object as detailed in point 2 of the Trust's objectives within the Report of the Trustees.
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The Croydon High School Scholarship Trust
Notes to the Financial Statements - continued for the year ended 31 July 2025
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2025 nor for the year ended 31 July 2024.
Page 15
The Croydon High School Scholarship Trust
Detailed Statement of Financial Activities
for the year ended 31 July 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Dividend income | 30,413 | 33,676 |
| Deposit account interest | 9,337 | 9,186 |
| Other income | 7,650 | - |
| Total incoming resources | 47,400 | 42,862 |
| EXPENDITURE | ||
| Charitable activities | ||
| Scholarship Trust Awards | 14,406 | - |
| Hardship Awards | - | 3,000 |
| Music tuition | 12,922 | 14,566 |
| Contribution to cost of musical instruments | - | 4,035 |
| 27,328 | 21,601 | |
| Support costs | ||
| Management | ||
| Bank charges | 120 | 120 |
| Legal fees | 1,980 | - |
| Governance costs | ||
| Independent Examiner's fees | 877 | 852 |
| Total resources expended | 34,305 | 22,573 |
| Netincome | 17,095 | 20,289 |
This page does not form part of the statutory financial statements
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