REGISTERED COMPANY NUMBER: 06762073 (England and Wales) : REGISTERED CHARITY NUMBER: 1127150 

é 

Report of the Trustees and 

Audited Financial Statements 

for the Year Ended 31 August 2023 

for 

UK Christian Schools Ltd (A Company Limited by Guarantee) 

Garside and Co. Limited Chartered Accountant & Statutory Auditor Suite 631, Linen Hall 162-168 Regent Street London WIB 5TG 



## UK Christian Schools Ltd 

Contents of the Financial Statements for the Year Ended 31 August 2023 

Reference and Administrative Details 

Report of the Trustees Report of the Independent Auditors Statement of Financial Activities 

## Balance Sheet 

Notes to the Financial Statements Detailed Statement of Financial Activities 


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Page<br>1<br>2 to 5<br>6 to 9<br>10<br>11<br>12 to 19<br>20<br>**----- End of picture text -----**<br>




UK Christian Schools Ltd 

Reference and Administrative Details for the Year Ended 31 August 2023 

|TRUSTEES|Revd C D Fishlock|
|---|---|
||MrND Margesson|
||Revd PW Clarke|
||MrP Baxter (resigned 11.4.2023)|
||Mr S Wilde|
|COMPANYSECRETARY|Mrs KNoh|
|REGISTERED OFFICE|30-32 Tabard Street|
||London|
||SE1 4JU|
|REGISTEREDCOMPANYNUMBER|06762073 (England and Wales)|
|REGISTEREDCHARITYNUMBER_|1127150|
|SENIORSTATUTORYAUDITOR|Gareth Hughes BScACA|
|INDEPENDENT AUDITORS|Garside and Co. Limited|
||Chartered Accountant & Statutory Auditor|
||Suite 631, Linen Hall|
||162-168 Regent Street|
||London|
||WIB5TG|
|SOLICITORS|Glovers SolicitorsLLP|
||Fifth Floor|
||Berkshire House|
||168-173 High Holborn|
||London|
||WCIV 7AA|
|BANKERS|Reliance Bank|
||Faith House|
||23-24 Lovat Lane|
||London|
||EC3R SEB|
||KingdomBank|
||Media House|
||Padge Road|
||Beeston|
||Nottingham|
||NG9 2RS|
||Page||





## UK Christian Schools Ltd 

## Report of the Trustees 

## for the Year Ended 31 August 2023 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. 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 charity's objects (the Objects) are to promote excellent Christian education for children between the ages of 3 and 18 in London, and nationally, by providing administration and facilities to its member schools and by providing financial assistance to pupils who are in need, by all or any of the following means: 

- Establishing a bursary fund for pupils who are in need. 

- Supporting others in establishing and running Christian Schools throughout the United Kingdom. 

- The promotion of the Christian Faith through education. 

- The advancement of Christian education, for the public benefit, by means of classes, seminars, lectures, conferences, individual tuition and by all and any means whatsoever. 

## Public benefit 

The trustees have considered the Charity Commission's guidance on public benefit and, in particular the specific guidance in relation to charities for the advancement of education, and are satisfied that the activities of UK Christian Schools Ltd fall within that guidance. 

## ACHIEVEMENT AND PERFORMANCE 

## Charitable activities 

UK Christian Schools Ltd was established to promote excellent Christian education for children between the ages of 3 and 18 in . London, and nationally, by providing administration and facilities to its member schools and by providing financial assistance to pupils who are in need. 

UK Christian Schools Ltd continues to let its premises, 40 Tabard Street, to London Christian School Ltd. We gave grants for some minor maintenance works to 40 Tabard Street during the year to ensure the building remained in excellent condition. 

In June 2023 UK Christian Schools Ltd purchased 30 Tabard Street, the property adjacent to 40 Tabard Street. Since then we have incurred various expenses in relation to the upkeep of the building. It is currently occupied with commercial tenants who hold short term leases. When possible, we aim to refurbish the building and bring it into use to expand London Christian School activities. 

We have assisted in the provision of high quality, christian education to local children this year with fees far below the majority of independent schools in London. 

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## UK Christian Schools Ltd 

## Report of the Trustees 

for the Year Ended 31 August 2023 

: 

## FINANCIAL REVIEW 

## Financial position 

The Financial Statements cover all the activities of the charity and have been prepared on an accrual basis. They are presented in a format that reflects the total funds as unrestricted. The accounts show a balance of unspent unrestricted funds of £1,518,703 compared with £1,540,522 in 2022. 

The charity's incoming resources totalled £415,996 (2022: £159,582), derived mainly from rental income and restricted donations received during the year. £70,918 was committed to grants to institutions compared to £65,518 in 2022. Expenditure on charitable activities totalled £182,822 (2022: £103,226) including Governance costs of £6,334 (2022: £3,000). The main reason for the increase in expenditure is due to costs associated with the building purchase, including loan arrangement fees, interest payables and depreciation charges. 

The total funds shown in the Income Statement totalled £1,798,196 (2022: 1,565,022). The increase in the current year is mainly a result of restricted funds received for the purchase and refurbishment of 30 Tabard Street. As a result of this purchase, the Balance Sheet reflects the increase in fixed assets and increase in long-term creditors for the mortgage and loans obtained for the building purchase. As a result of these activities the closing total funds balance is £1,798,196 (2022: £1,565,022). 

For the year ended 31 August 2023 the charitable company returned a net surplus of £233,174 (2022: £56,356). 

The charity does not have a relationship with any other charity or organisation which might inhibit it from pursuing its own charitable objectives. The trustees are satisfied with the financial position of the charity and confirm that they have adequate assets available to fulfil their obligations. 

There are no plans to alter the charity's activities next year. 

## Reserves policy 

The trustees aim to maintain free reserves in unrestricted funds at a level which will enable the charity to cover future interest on loans and unrestricted charitable expenditure. The trustees consider this to be a prudent approach to provide sufficient funds to respond to unexpected interest rate rises, development of the current site or to build new schools and to ensure that the support and governance costs are covered. The balance held as unrestricted funds at 31 August 2023 was £1,518,703 which is regarded as free reserves. 

## Going concern 

The trustees consider there are no material uncertainties about the charitable company's ability to continue as a going concern. The review of the financial position, reserve levels and future plans gives trustees confidence the charitable company remains a going concern for the foreseeable future. 

## FUTURE PLANS 

The success and popularity of London Christian School has been sustained over the past year. We are exploring how best to use 30 Tabard Street to continue to develop London Christian School's activities. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Governing document 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

Charity constitution UK Christian Schools Ltd is a company limited by guarantee anda registered charity. Registered company number 06762073 (England and Wales) Registered charity number 1127150 : 

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## UK Christian Schools Ltd 

## Report of the Trustees 

for the Year Ended 31 August 2023 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Recruitment and appointment of new trustees 

The directors of the charitable company (" the charity") are its trustees for the purpose of charity law and throughout this report are referred to inter-changeably as directors or trustees. As set out in the Articles of Association the chairman of the trustees is elected by the trustees by majority vote. One third of the trustees retire by rotation at annual general meetings, and may, if willing to act, be reappointed. The members of the charity may by ordinary resolution appoint a person who is willing to act, to be trustee, either to fill a vacancy or as an additional trustee. 

## Organisational structure 

The Board meets regularly to review the financial position of the Charity. The Board works to ensure compliance with its legal duties to: 

- Act in the interests of the charity 

- Protect and safeguard the assets of the charity 

- Act with reasonable care and skill 

- Ensure the charity is accountable 

The trustees, who are also the directors for the purpose of company law, and who served during the year were: Revd C D Fishlock 

Revd P Clarke 

Mr N Margesson Mr S Wilde Mr P Baxter (resigned 11.4.2023) 

## Related parties 

, 

Details of related parties, where the trustees have responsibility for other charities which have dealings with UK Christian Schools Ltd, are set out in the notes to the accounts, where applicable. TRUSTEES' RESPONSIBILITY STATEMENT The trustees (who are also the directors of UK Christian Schools Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- - make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

; 

Page 4 



## UK Christian Schools Ltd 

Report of the Trustees 

for the Year Ended 31 August 2023 

## AUDITORS 

The auditors, Garside and Co. Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

> Approved by order of the board of trustees on sonal MOON D2500 and signed on its behalf by: 

Mrs K Noh- Secretary 

Page 5S 



## Report of the Independent Auditors to the Members of 

## UK Christian Schools Ltd 

## Opinion 

We have audited the financial statements of UK Christian Schools Ltd (the 'charitable company’) for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’. 

## In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and 

- - have been prepared in accordance with the requirements of the Companies Act 2006. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions _ that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## Other information 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

## Opinions on other matters prescribed by the Companies Act 2006 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

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## Report of the Independent Auditors to the Members of 

## UK Christian Schools Ltd 

## Matters on which we are required to report by exception 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## Responsibilities of trustees 

As explained more fully in the Trustees' Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

- 

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. 

## Report of the Independent Auditors to the Members of 

## UK Christian Schools Ltd 

## Our responsibilities for the audit of the financial statements 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

## The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

## Identifying and responding to risks of material misstatement due to fraud 

As required by auditing standards, and taking into account possible pressures to meet profit targets and our overall knowledge of the control environment, we performed procedures to address the risks of management override of controls and the risk of fraudulent revenue recognition, the risk that those in charge with management may be in a position to make inappropriate accounting entries and the risk of bias in accounting estimates and judgements such as the valuation of fixed assets and financial instruments and depreciation policies. 

To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit. 

## Our risk assessment procedures included: 

- Enquiring of those charged with management and inspection of key papers as to the policies and procedures to prevent and detect fraud, including the process for engaging management to identify fraud risks specific to the entity's sector, as well as whether they have knowledge of any actual, suspected, or alleged fraud; 

- Reviewing minutes of trustees' meetings; 

- Reviewing internal risk assessment reports; 

- Considering management's incentives and opportunities for fraudulent manipulation of the financial statements; 

- Assessing significant accounting estimates for bias; and 

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. 

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations 

We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006 and the Charities Statement of Recommended Practice (SORPs) FRS 102. 

The charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, taxation legislation (payroll taxes), and pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statements items. 

## As the charitable company is regulated, our assessment of risks involved gaining an understanding of the 

control environment including the group's and the charitable company's procedures for complying with regulatory requirements. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. 

## Our procedures included: 

~ Discussion with those in charge with management, and from inspection of the entity's regulatory and legal correspondence; 

- Discussion with those charged with management the policies and procedures regarding compliance with laws and regulations; 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and 

- Enquiry of management, those charged with governance around actual and potential litigation and claims. 

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## Report of the Independent Auditors to the Members of 

## UK Christian Schools Ltd 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect noncompliance with all laws and regulations 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org:uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## Use of our report 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

## Gareth Hughes BSc ACA (Senior Statutory Auditor) 

for and on behalf of Garside and Co. Limited Chartered Accountant & Statutory Auditor Suite 631, Linen Hall 162-168 Regent Street London W1B5TG 

DAtCE sccssnseresornaseecsreoncsannonSecorsnssaes 

Page 9 



## UK Christian Schools Ltd 

## Statement of Financial Activities 

for the Year Ended 31 August 2023 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|31.8.23|31.8.22|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND ENDOWMENTS|FROM|
|Charitable|activities|3|
|Growth|of member|schools|-|254,998|254,998|24,500|
|Other income|4|160,998|-|160,998|135,082|
|Total|160,998|254,998|415,996|159,582|
|EXPENDITURE|ON|
|Charitable|activities|5|
|Growth|of member|schools|182,817|5|182,822|103,226|
|NET INCOME/(EXPENDITURE)|(21,819)|254,993|233,174|56,356|
|RECONCILIATION|OF FUNDS|
|Total|funds|brought forward|1,540,522|24,500|1,565,022|1,508,666|
|TOTAL FUNDS|CARRIED|FORWARD|1,518,703|279,493|1,798,196|1,565,022|

**----- End of picture text -----**<br>


The notes form part of these financial statements 

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## - UK Christian Schools Ltd 

## Balance Sheet 

31 August 2023 


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|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|31.8.23|31.8.22|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|—O£|£|£|
|FIXED|ASSETS|
|Tangible|assets|10|4,521,206|-|4,521,206|1,975,288|
|CURRENT|ASSETS|
|Debtors|11|2,070|-|2,070|-|
|Cash|at bank|216,868|302,243|519,111|217,931|
|218,938|302,243|521,181|217,931|
|CREDITORS|
|Amounts|falling due|within one|year|12|(22,971)|(22,750)|(45,721)|(41,710)|
|NET CURRENT ASSETS|195,967|279,493|475,460|176,221|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|4,717,173|279,493|4,996,666|2,151,509|
|CREDITORS|
|Amounts|falling|due|after|more|than|one|year|13|(3,198,470)|-|(3,198,470|)|(586,487)|
|NET ASSETS|1,518,703|279,493|1,798,196|1,565,022|
|FUNDS|15|
|Unrestricted|funds:|
|General|fund|1,518,703|1,540,522|
|Restricted|funds|279,493|24,500|
|TOTAL FUNDS|1,798,196|1,565,022|

**----- End of picture text -----**<br>


These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on A May 2024 and were signed on its behalf by: 


**----- Start of picture text -----**<br>
a<br>Mr S Wilde - Trustee<br>ev C DFishlock - Trustee<br>**----- End of picture text -----**<br>


; 

The notes form part of these financial statements 

Page Ll 



## UK Christian Schools Ltd 

## Notes to the Financial Statements 

for the Year Ended 31 August 2023 

1. ACCOUNTING POLICIES 

## Basis of preparing the financial statements 

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

UK Christian Schools Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

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

## Legal status 

The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. Under the terms of the Memorandum of Association, in the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. 

## Going concern 

The trustees consider there are no material uncertainties about the charitable company's ability to continue as a going concern. The review of the financial position, reserve levels and future plans gives trustees confidence the charitable company remains a going concern for the foreseeable future. 

## Income recognition 

All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Donated services or facilities are recognised when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charitable company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised. 

## Interest receivable 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the bank. 

## 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. 

All 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 payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. 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. 

## Tangible fixed assets 

Tangible fixed assets are initially measured at costs and subsequently measured at cost or valuation, net of depreciation and any provision for impairment. 

Page 12 

continued... 



## UK Christian Schools Ltd 

Notes to the Financial Statements - continued for the Year Ended 31 August 2023 

## 1. ACCOUNTING POLICIES- continued 

## Tangible fixed assets 

Depreciation is recognised so as to write off the cost or valuation less estimated residual values of all fixed assets over their expected useful lives. It is calculated at the following rates: 

## Freehold property - 1% straight line basis 

Any gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and it is recognised in net income/(expenditure) for the year. 

The freehold properties are a resource for the use of the charity, but provisions are made to reduce such properties to estimated open market values as and when considered appropriate. These assets are currently shown in the balance sheet at historic cost and the trustees consider their overall market value to be greater than the value at which they are shown in the financial statements. 

## Taxation 

The charity is exempt from corporation tax on its charitable activities. 

## Fund accounting 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

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. 

## Debtors 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## Cash at bank and in hand 

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## Liabilities and provisions 

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 

## Financial instruments 

The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

continued... 

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UK Christian Schools Ltd 

Notes to the Financial Statements - continued 

for the Year Ended 31 August 2023 

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY 

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## Critical accounting estimates and assumptions: 

The charitable company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed in the accounting policies above. 

3. INCOME FROM CHARITABLE ACTIVITIES 

|||||31.8.23|31.8.22|31.8.22|
|---|---|---|---|---|---|---|
|||Activity||£||£|
||Building fund donations|Growthofmember schools||254,998|24,500||
|4.|OTHERINCOME||||||
|||||31.8.23|31.8.22||
|||||£||£|
||Rental income|||160,998|135,082||
|5.|CHARITABLE ACTIVITIES COSTS||||||
|||||Grant|||
|||||funding of|||
||||Direct|activities|||
||||Costs (see|(see note|||
||||note 6)|7)|Totals||
||||£|£||£|
||Growth ofmember schools||111,904|70,918|182,822||
|6.|DIRECT COSTS OFCHARITABLE ACTIVITIES||||||
|||||31.8.23|31.8.22||
|||||£||£|
||Legal and professional fees|||3,084||-|
||Expansion plan costs|||5,580||600|
||Advertising and marketing|||1,800||-|
||Insurance|||433||-|
||Postage and stationery|||34||-|
||Repairs and maintenance|||3,539||-|
||Utilities|||1,184|;|-|
||Miscellaneous expenses|||397||152|
||Bank charges|||72||64|
||Auditor's remuneration|||3,250||3,000|
||Loan arrangement fees|||20,000||-|
||Depreciation charges|||18,239|15,247||
||Interestpayable and similar charges|||54,292|18,645||
|||||111,904|37,708||



continued... 

Page 14 



UK Christian Schools Ltd 

Notes to the Financial Statements - continued 

; 

for the Year Ended 31 August 2023 

6. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued 

## Governance Costs 

Governance costs incurred during the year ended 31 August 2023 and included in Direct costs above: 

|||31.8.23|31.8.22|
|---|---|---|---|
|||£|£|
||Auditor's remuneration|3,250|3,000|
||Legal and professional fees|3,084|-|
|||6,334|3,000|
|Ts|GRANTS PAYABLE|||
|||31.8.23|31.8.22|
|||£|£|
||Growth ofmember schools|70,918|65,518|
||The total grants paid to institutions during the yearwas as follows:|||
|||31.8.23|31.8.22|
|||£|£|
||Growth ofmember schools|70,918|65,518|
|8.|NET INCOME/(EXPENDITURE)|||
||Net income/(expenditure) is stated aftercharging/(crediting):|||
|||31.8.23|31.8.22|
|||£|£|
||Depreciation - owned assets|18,239|15,247|
||Auditor'sremuneration|3,250|3,000|



9. TRUSTEES' REMUNERATION AND BENEFITS 

There were no trustees’ remuneration or other benefits: for the year ended 31 August 2023 nor for the year ended 31 August 2022. 

## Trustees' expenses 

During the year one trustee was reimbursed £10.50 (2022: £135.34) for costs incurred in carrying out their duties. 

Page 15 

continued... 



## UK Christian Schools Ltd 

|Notes to the Financial Statements - continued|Notes to the Financial Statements - continued|||
|---|---|---|---|
|for theYear|Year Ended 31 August 2023|||
|10.|TANGIBLE FIXED ASSETS|||
||||Freehold|
||||property|
||||£|
||COST|||
||At 1 September 2022||2,163,802|
||Additions||2,564,157|
||At 31 August 2023||4,727,959|
||DEPRECIATION|||
||At 1 September 2022||188,514|
||Charge foryear||18,239|
||At 31 August 2023||206,753|
||NET BOOKVALUE|||
||At 31.August2023||4,521,206|
||At 31 August 2022||1,975,288|
|11.|DEBTORS:AMOUNTSFALLINGDUEWITHINONEYEAR|||
|||31.8.23|31.8.22|
|||£|£|
||Prepaymentsand accrued income|2,070|-|
|12.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR|||
|||31.8.23|31.8.22|
|||£|£|
||Bank loans and overdrafts (see note 14)|-|36,000|
||Other loans (see note 14)|5,123|2,710|
||Trade creditors|5,419|-|
||Rent deposits|22,750|-|
||Accrualsanddeferred income|12,429|3,000|
|||45,721|41,710|



Page 16 

continued... 



## UK Christian Schools Ltd 

Notes to the Financial Statements - continued for the Year Ended 31 August 2023 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|13.|CREDITORS:|AMOUNTS|FALLING|DUE|AFTER|MORE|THAN|ONE|YEAR|
|31.8.23|31.8.22|
|£|£|
|Bank|loans|(see|note|14)|1,998,470|586,487|
|Other|loans|(see|note|14)|1,200,000|-|
|3,198,470|586,487|
|14.|LOANS|
|An|analysis|of the|maturity|of loans|is|given|below:|
|31.8.23|31.8.22|
|£|£|
|Amounts|falling|due|within one|year on demand:|
|Bank|loans|-|36,000|
|Loan|interest|accrual|5,123|2,710|
|5,123|38,710|
|Amounts|falling|due|between|two|and|five|years:|
|Bank|loans|-|108,000|
|Other|loans|-|2-5|years|1,200,000|-|
|1,200,000|108,000|
|Amounts|falling|due|in more|than|five|years:|
|Repayable|by|instalments:|
|Bank|loans|1,998,470|478,487|
|15.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.9.22|in|funds|31.8.23|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,540,522|(21,819)|1,518,703|
|Restricted|funds|
|Restricted|fund|24,500|254,993|279,493|
|TOTAL FUNDS|1,565,022|233,174|1,798,196|

**----- End of picture text -----**<br>


Page 17 

continued... 



## UK Christian Schools Ltd 

Notes to the Financial Statements - continued for the Year Ended 31 August 2023 

## 15. MOVEMENT IN FUNDS - continued — 

- 

Net movement in funds, included in the above are as follows: 


**----- Start of picture text -----**<br>
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|160,998|(182,817)|(21,819)|
|Restricted|funds|
|Restricted|fund|254,998|(5)|254,993|
|TOTAL FUNDS|415,996|(182,822)|233,174|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1.9.21|in|funds|31.8.22|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,508,666|31,856|1,540,522|
|Restricted|funds|
|Restricted|fund|-|24,500|24,500|
|TOTAL|FUNDS|1,508,666|56,356|1,565,022|
|Comparative|net movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|135,082|(103,226)|31,856|
|Restricted|funds|
|Restricted|fund|24,500|-|24,500|
|TOTAL FUNDS|159,582|(103,226|)|56,356|

**----- End of picture text -----**<br>


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continued... 



UK Christian Schools Ltd 

Notes to the Financial Statements -. continued for the Year Ended 31 August 2023 

## 16. RELATED PARTY DISCLOSURES 

The following trustees were also trustees of London Christian School Ltd: Revd C Fishlock 

During the year, UK Christian Schools Ltd received rental income totalling £141,835 (2022: £135,082) from London Christian School Ltd for the rental of 40 Tabard Street, London SE1 4JU. 

Page 19 



## UK Christian Schools Ltd 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Detailed|Statement|of Financial|Activities|
|for|the Year Ended|31|August,|2023|31.8.23|31.8.22|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|£|£|£|£|
|INCOME|AND|ENDOWMENTS|
|Charitable|activities|
|Building|fund|donations|-|254,998|254,998|24,500|
|Other|income|
|Rental|income|160,998|-|160,998|135,082|
|Total|incoming|resources|160,998|254,998|415,996|159,582|
|EXPENDITURE|
|Charitable|activities|
|Legal|and professional|fees|3,084|-|3,084|-|
|Expansion|plan|costs|5,580|-|5,580|600|
|Advertising|and marketing|1,800|-|1,800|-|
|Insurance|433|-|433|-|
|Postage|and|stationery|34|-|34|-|
|Repairs|and|maintenance|3,539|-|3,539|-|
|Utilities|1,184|-|1,184|-|
|Miscellaneous|expenses|397|-|397|152|
|Bank|charges|67|5|72|64|
|Auditor’s|remuneration|3,250|-|3,250|3,000|
|Loan|arrangement|fees|20,000|-|20,000|-|
|Depreciation|freehold|property|18,239|-|18,239|15,247|
|Loan|interest payable|54,292|-|$4,292|18,645|
|Grants|to|institutions|70,918|-|70,918|65,518|
|182,817|5|182,822|103,226|
|Total|resources|expended|182,817|5|182,822|103,226|
|Net income|(21,819)|254,993|233,174|56,356|

**----- End of picture text -----**<br>


This page does not form part of the statutory financial statements 

Page 20