REGISTEKED COMPAfiY IYUMBER: 06762073 (England and W#les} REGISTERED CHARITY NUMBER: 11271511 Report of the Trustees aDd Audited FinaDcial Statemettts for tbe Year Ended 31 August 2024 for UK Christian Schoo15 Ltd (A Companv Limited bv GuaraDtee) fjarside and Co. Limited Chartered Accountant & Siawiory Auditor Suite 631, Linen Hall 162-168 Regent Street London WIB 5TG
UK Christian S<hth)Is Ltd Contents of the Financial S¢2temeTrts for the Year EDded 31 Augus12024 Page RefereDee and Adminislrative Detail$ Report of the Trustees Report of the Independellt AuditOfS Statement of Fin#nti#l Activities 10 B#lance Sheet Nott5 to the Financial stateents 12 to 18 Detailed Statement of Financial Activilies 19
UK Christian Schools Ltd RefereTh¢e and Administrative Details for the Year Ended 31 August 2024 TRUSTEES R¢vd C D Fishlock Mr N D Margesson Revd P W Clarke MrSRGWilde REGISTERED OFFICE 31N32 Tabard Street London SEI 4JU REC.ISTERED COMPANY NUMBER 06762073 (En81ond atyj Wa1¢5) REGIS'I'LRED CHARITY NUlblBLR 127150 SENIOR STATUTORY AUDITOR Gareth Hu8h¢s Bsr ACA Ir4DEPELYDENT AUDITORS Garside and Co. Limitèj Chartered Accountant & St4tytory Auditor Suite 631. Linen Hall 162-168 Regcni SITe¢t London WIB5TG SOLICITORS GloveTS SoliciloTS LLP Fifth Floor Berkshire House 168-173 High Holborn London WCIV 7AA BANKERS Kingdom Bank Media Ho¢ Pad8e Road Beeslon Nottingham NG9 2RS Lloyd5 Bank 25 Gresham Streei London EC2V 7HN Page I
UK Christian Schools Ltd Report Of ihe Trustets for tbe Yr Ended 31 August 21124 The trnstees who are also dITloTs of the charity for the pury)oses ofthe Q)mpanies Aci 2006. present iheir report with Ihe financial staiements of the charity for the year ended 31 Augusi 2024. The tnLStees have adopted ihe provisions of Accounting and Reponing by Charities.. Sthiement of Recommended Practice applicable to ctwities preparing their aceounts in aeeordance with the Filne1a1 Reporling Siandard applicable in the UK #nd Republic of Ireland (FRS 102) {effeciive l January 2019). OBJECTIVES AND ACTIVITIES Objectives and #ims The charity's objects {the Objects) are to prollM)te excellent Christian education for children between the agcs of 3 and 18 in London. and nationally. by providing administration and facilities to its memb¢r sch(Kils and by ploldIng financial assistance to pupils who are in need. by all or any of th¢ followLn¥ means- Esiablishing a bursary fund for pupils who are in D¢¢d. Supporting other5 in establishing and rullnin Chn'siian Schools throughout th¢ United KL'n8dom. The promotion of ihe Christian Faith through education. The advancement of Christian educaiion. for the public benefit, by means of classes. seminars, leciures. conferences. individual tuition and by all and any means whatsoever. Publle benefit The irustee8 have con%idered th¢ chan.ly Commission's guidance on public benefii and. in p2rticular the specific gujdante in relation lo charities for the advancenxnl of ¢dallOn, and are saiisfied thai the activities of UK Chrisiian Schools Lid fall wiihin ihai guidaw¢. ACHIEVEMEf4T Af4D PERFORMANCE Churltabl¢' actlvltle5 UK Christian Schools Ltd was established to pronK)ie excellent Chrislian educalion for children beiween the ag¢s of 3 and 18 in London, and naiitsnally, by providing adininislraiion and fa¢iliiies ¢0 its m¢inber schools and by providing rinancial l8(ance pupils who are in need. UK Christian Schools Lid continues to let its pr¢mis¢s. 40 Tabard StreeL to London chris11 School Ltd. We gave grants for some minor mainten•no works to 40 Tabard Streei during the year (o ensure ihe building remained in excellent condition. In June 2023 UK Chri%tian Schools Ltd purchased 30 Tabard Sireei. Ihe properly adjacent lo 40 Tabard Street. Since then. we have incurred various expenses in relation io ihe upke¢p 8Th1 redevelopmenl of ihe buildiiig. Durin¥ ih¢ year under review UK Christian Schools Ltd refurbished ihe ground and b&s¢m¢ni fl(Kbrs io enable London Chrisiian Scliool to use ihem for hot food provision and a performing arts space. The hOI began to renl these facililies in Sepiemb¢r 2024. Two additional floors r¢moin occupied wilh cornmercial ienants who hold short lern) Icasc5. With renwl Ime used (o further ihe aims of UK Christian sch(ls Ltd. One flth)r is un-let and used by London Christian School and a second chariiy as officc $e. We have a85iSted in the proyision of high quality, Christian education to local children this year wi(h fees far below the majority of independent 5choo15 In London. Page 2
UK Christian Schools Ltd Report of the Trustees for the Year Ended JI Augu51 Z024 FINANCIAL REVIEW Financial position Th¢ Financial Stat¢m¢nts ¢ov¢r all the activiti of the chaTity and have been prepared on an accrual basis. They are PTes¢ni¢d in a fomiai ¢har reflecis the ioial funds as unresthcted. The accout]ts show a balance of unspent UT]re5tricted funds of £1,716.370 compared with £1.518.703 in 2023. The chatity's incoming restsut¢es to¢alled £250,064 {2023.- £415,996), derived mainly from rental income. Expcnditure on charitable actiTrryties totalled £331,890 (2023.. £182,822) including Governance costs of £15,471 (2023.. £6,334) and Grants to ittstitutions of £82.440 {2023.. £70.918}. The main re&%on for the increase in expendituie is due to costs &ssociat¢d with the building maint¢Dance, interest payable and depreciation charges. The total fi)nds shown in ihe Income Staiement totalled £1.716,370 (2023.. £1.798.196). The decrease in the cuent year is priDwily due to a reduclion ID dollatioJLS received for (he bufftlding COllLpated io the previous year. For the yeat ended 31 Augusi 2024 the ¢hatitable Company retwned a nei defjeit of £81,826 {2023' surplus £233,174). This included tbe depreciation Chatges for the year of £33.690 (2023_. £18.239}. Th¢ ¢hariiy does not have a relatiOll5kn"p with any other chatity tsr organisation which might inhibit it fro]n pursuing its charitable objectives. The tn]stees are satisfi¢d with the fmancial position of the charity and ¢onfirni thai they have adequat¢ assets available to fulfil their obliuatiotts. Th¢r¢ ar¢ no plans to alter the charity's activiti&s next year. Reserve5 policy The trusiees aim to maintain free reserves in U[eStrIcted fi]nds a( a level which will enable the Charity to cover fuiure interest on loaps a1 unrestticied charithble expenditure. The trnstees consider this (o be a prudent approach to provide sufficient futjds io restM)nd to unexpected interesi tate rises. developmeni of the current sile OT to build new schools and io ensure that the supkx)n and goveTnance costs ate covered. The balance held as U1¢S[[L¢leo funds a(31 August 2024 was £1,716,370 which is tegarded as free reserves. Going tonccrn The trustees consider ihere are no material uncertainties aboui the chari(able cOmpanS ability to continue &5 a going concern. The review of the financial position. reserve levels and future plans gives tneeS confidence the charitable tstnpany remains a going concern for the foreseeable future. FUTURE PLANS The success and popularity of London Christian School has been susthined over the past y¢ar. We are exploting how best to use 30 Tabard Street to continue lo develop L£*ndon Christi2n School's activities. STRucfuRE. GOVEIII¥ANCE AND MANAGEMENT Governlng doilloieTht The ¢hari¢y is controlled by its goverDillg documenL a deed of and constitutes a lirnited company. limitLyJ by gu2rantee. as defined by ihe Companics Aci 2006. Charlty constitution UK Christian S¢hoo15 Lid is a compally limiied by guardntee and a registered chatrity. Registered company number 06762073 (Eng]and and Wales) Registered chatity Dumber 1127150 R¢cruitrncnt and appoinlm¢nt of new trustees The directors of the charitable company I" ihe Chari) #re Tts tnisiees for the purpose of chaTily law and throughout this rcport are referred io inrer4hangeably as directors or thjstees. As sct out in the Articles of Association the chairman of the tNstees is elected by the twsrees by majority vote. One third of ihe irustecs retire by rothiion ai annual gen¢ral meeiings, and may, if [ling to ati. be reappoinied. Th¢ members of the chariry nY by Ordinary rasoluiion appoint a person who is willing 10 act. to b¢ trLL%tee, eithei io fill a vacancy 01 as an additional llusice. Page 3
UK ChTiStian Schools Ltd Report of the Trustees lor the Year Ended 31 August 2024 STRucfuRE, GOVERNANCE AND MANACEMENT Organisational structure The Board meets regularly to review the financial position of the Tharity. The Board works to ensure compliance with ils legal duties to-. - Aci in ihe inierests of the chan.ry - Protett and safeguard the assets of the charity - Aci wilh reasonable we and skLII - Ensure the charity is accountsble The trustees, who are also the directors for the PUEpose of cotwy law, atwj who servd during the year weit.. R¢vd C D Fishlock Mr N D Matgessoll Revd P W Clarke MrSRGWilde Related parties D¢tai18 of rclatcd partics. where the trusiees have rwollsibility for other chariiies which have dealings UK Chnsiian Schools Lid. are set out in the notes lo the accounts. where appli¢#ble. EVENTS SINCE THE EIYD OF THE YEAR Infumuiion relating to ei'ents sjnce the end of the year 15 given itk the Dotes to the fiDall¢ial statemetjts. TRUSTEES, RESPONSIBLLITY STATE.VAEf4T The trustees (who are also Ihe directors of UK ChristiaD Schools Lid for tbe purposes of ¢ompaDy law) are responsible for preparing th¢ Report of the Ttusiees and the fmancial statements in accordauce with applicable law and Lniled Kingdom Accouniing Standards Iunited Kingdom Generally Accepi¢d Accounling Practice) including Financial Reporting StandaTd 102 "The Financial Reponing Swbjard applicabl¢ in the UK and Republic of treland" Company law requEres the trustees to prepare financial statements for each financial year which give a true and fair view of the state of alTairs of the charitable company and ol the in¢oTning rOurceS and applicatioll of resourees. including the income and expenditure, of the charitsble company for thai period. In preparing those financial statements. ihe trustees ate required select Suitable accounting policies and then apply thern Consistently. observe the ethodS and principles in the Charity SORP. make Judg¢entS and es¢imat¢s that are reasonable and prudent. pr¢pare the financial staiernents on the going concern b&sis unle$5 it is inapproptiate to presume that the charitable company will conltDue in business. The trustees are re5POll5iblc foi krepirjg proper accouDiing re£ords which disc105c with r¢J5oNablc accutacy at any time Ihe financial positioll of the charitsble company and to enable them to etksure that the financial ststements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the ¢lLan"tsble company and hence for taking reasonable steps for the prevenuon and detection of fraud and other ittegularities. In so far as tbe ftvstees are aware: there is no relevant audit infom)aiion of which the charitable cornpans auditors are unaware: and the irustees have tsken all steps ihai they ougbi to have tsken to make thenelveS avdre ol any r¢levaD( audit infomation and io esiabli5h that the auditors ale aware of thai infoTmation. AUDITORS The audilols. Garside and Co. Lilled, will be prop)sed for r¢-apFrfTrintment the forthcoming ADnual Geneial M¢¢tin& Page 4
UK Christian Schools Ltd Report tsf the Trusttts for the Year Ended 31 August 2024 This report has been pr¢pared in accordance with the special provisions of Part 15 of the Companies Aci 2(MJ6 relating to small compani¢s. 14104125 Approved by order of the board of tnJst¢¢s on............................................. and signed ott its behalf by.. Trustee MrSRGWilde Page 5
Report of the Independent AMditOTS to the Members of UK Christian Schools Ltd Opinion We have audited the f]nancial Statents of UK Christian SclM)ols LAd {th¢ 'charitabl¢ company) for the year ended 31 Ausu5t 2024 which Gompri5¢ the Stai¢m¢nt of FInalat Aciivities, the Balance Sheet and not¢s to th¢ financial stal¢m¢t]ts, including a 5ull]mary of sigllificallt accounting policies. The [ancial rtportillg framework that has been applied in their preparation is opplicable law and u'nited Kingdo Ar¢ounting Standards (United Kingdom Generally Accepted Accounting Praciice), iNluding Financial Rew)rting sard 102 The Financial Reponing Stsndard applicable in ihe UK and Republic of IrelatLd'. In our opinion ihe financial statements= give # true and fair view of the siaie of the ¢h¥ritable ¢OTyvanS ttfftin os at 31 August 2024 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 FinatJci&l Repolling Standard 102 The Financial Reporting Sthndard applicable in the UK and Republic of Ircland,. and have been prepared in accordance with the reqUirellnts of the Companies Act 2006. Basi5 for opinion We conducted our audit in accordance with IDlernational Standard5 on Auditing (UK) (ISAS IUK)) and applicable law. Our responsibilities under ihos¢ standards ar¢ fiffther described in the Auditors, te5POll5ibilities for the audst of the fjnancial statements section of our reporL We are independent of the chatitable compatsy in accordance wilh the ethical requiremenis that are relevant to our audit of the financial statements in the UK. in¢ludJng the FRC'S Ethical Sta[ard, and e have fulfilled our other ethieal respon5ibihties in accotdance with these requirements. We believe that Ihe audit evidence we have obtailled is sufficient and appTopriate to provide a basis for our opinion. Conclusions relating to going eonee In auditing the financial siateTnents, we have ¢oncluded that the we of the going ¢on¢¢m b&sis of accounting in the preporation of the financial stateentS is appiopriaie. Based on the work we have perfomitd, we have rK)t identified ally material unterlainiies relating to events or conditions thai, individually 01 collectively, may c&st significant doubt on the Compan5 ability to continue as a going concern for a period of at l¢&st twelve tuoDths frojn when the fmancial staternents are authorisd for issue. Our responsibilities and the reswDsibhlities of ihe tyusi¢es with respcct to going concern are described in th¢ relevant sections of this reporL Other iDformation The trus¢5 are responsibl¢ for the other infomtIon. The other infoTD]alion compiises ibe inlornuuon included ID the Annual Repon. other than the financial statements and our Repon of the I1¢pendent Audir8 thereon. Our opinion On the financial staiements does not cover the other inforn)aiion and. excepl to the exient otheTh¥ise ¢xpli¢itly stated in our report, we do noi express any form of &ssurdnce conclusion ihereon. In connection wilh our audit of th¢ finaExcial stai¢men¢4 our r¢sponsibility is to read ¢h¢ tsth¢r inf(krmation and, In doirLS so, ¢onsider whether the oth¢r infomution is materially iDconsislenl with the r]naJKial staiemenls or our knowledge obtained in the audit or otherwise appears io b¢ nwierially mi$5ts1ed. If we identify such material incollsistencies or apparent maierial misststements, we are required to det¢Tmine whether this gives rise io a material misstalemeni in the financial Statements ihenwlves. If. b&8ed on the work we have perforn)ed, we conclude that there is a n]aterial misstatement of this other infom110. we are required to report faci. We have nothing to report in this regard. Opinion$ on other matters prcribed by the Companies Act 24106 In our opinson. based on the work undertaken in the course of the audit.. the infotThation given in the Report of the Trustees for the financial year for Mthich the financial statements are prepared 15 con5is(ent with the financial statemellls., and the Report (Ff the Trnstees has becn pr¢Par in accotdance with applicablc Icgal wequiterneDts. Page 6
Report of the Independent Aoditors to the Members of UK Christian S¢hoois Ltd Matiers on h]Ch we are reqared lo report by exception In the light of ihe know,ledgc and understanding ofthe chatitsble company and its environment obtained in thc COUTSC of the audit. we have not identified mat¢riai tnisstatements in the Report of the TnL%tees. We hav¢ nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. adequatt arcoulltlDS iecords hav¢ not b¢¢n kept or retUllLS adequate for our audit hav¢ not been received from branches not visited by u5; or the fLll3n¢ial statements are not in agrttment with the accounting records and returns" or certain disclosure5 of t[tte5, iemunetation specified by law. are not made. or w¢ have not received all the infornmlion and explanaiions we require for our audit- 01 the trustees were not entitled io lake advantage of the small compames exernptioll ftom the requirement to prepare a Stratewc Report or in prepwing the Report of the Tte¢s. ResnsIbIlitieS of trustees As explained rnOTe fully in ihe Tnle¢s, Responsibiliti£s StaiellthL the uwiees (who are a150 the diie¢ttsrs of the charitable company for th¢ putposes of company law) are r&sponsible foi the pieparaiion of the fjnancial 51atements and for being satisfied that they g]e a true and fair view. and for such iniemal coniiol as the trusiees deiem)ine is n¢ccssaiy lo enable the preparation of finan¢ial statements that are free from rn&ieriai rnisstatefftenL whether due to fraud or eOr. ID prepatsng the financial statemenw the trustees ar¢ respoiLsible for a&wsing the ¢han"tsble company's ability to continue &s a going concetn. disclosing, as applicable. matte[5 relaied to going ctsncem and using the goin¥ toncern basi5 of accounting unless the ttee5 either iniend to liquidate the charitsble company or to cease operations. or have DQ realistic alM31]ve but to do so. Page 7
Report of the Independent Auditors to the Members of UK Christian Sehools Ltd Our responsibilities for the 9udit of the financial $19tements Our objectives are to obtain reawnable assurdnce about u'hether the financial statements as a whole are free from material misstatennI, whether due to fraud or error. and to Issue a Report olihe Ityjependeni Audito that includes our opinion. Reasonable a&surance 15 a high level of assurarKe. but is noi a guaraniee ihat an audit conducted in accordance with ISAS (UK) will always d¢lcct a maierial misstalcmcnl when it cxisis. MisstaTcmcnts can arise froin fraud or ¢Tror and are Considered mat¢rial if, individually or in the aggregate, th¢y cOd reasonably be expected to inl]u¢n¢¢ th¢ economic decisions of useis taken on the basis of these fatIal sIatellnts. The extent io which our procedutes are cyble of detecting itregulgrities. including fraud is detailed below.. Identi in and res ondin to risks of material misstatemeni due to fraud As r¢quircd by auditing standards, taking inlo accounl possible pressures io meet profit Iget9 and our overall knowledge of the control environmenl. we perfornwd procedures to address the risks of management QV¢TTid¢ of controls and the risk of fraudulent revenue rccognition. the risk thai those in charge wirh management May be in a position to make inappropriate aceounting entries and the nsk of bias in accounling esiimaies and judgements such as the valuation of fixed assets and financial inslnunenls and depTecialion poli¢ie8. To identify risks of mcrial missta¢an¢ni due fTaud I'fraud risks") we a55e&sed events or conditions that could indi¢at¢ an iTK¢nlive or pressure io corntni¢ fraud or provide an opponuniiy ¢0 commii fraud. We conununicaled ideniified frdud risks throu¥houL th¢ audit ieatn and temained alert io any indicaiioThs of fraud throughout the audit. Our risk assessnKnt proc¢dur¢s ilud¢d.. Enquiring of Ihose charged with mana¥¢menl and inspe¢tion of key papers as to the policies and proc¢dures to prevenl and del1 fraud. including the process for engaging manag¢m¢nt 10 idenlify fraud risks specific ¢0 ihe entit$ sector. as well as whethcr ih¢y have knowlcdgc of any Actu. suspecied, OT alleged fraud,. R¢vi¢win8 minutes of trusiees, meeiings., Reviewing intemal risk assessm¢ni reports Considering n)£1tJa8emeni's inccnii5 and oprx)rtUDLlies for frauduleni MlPUlatIon of th¢ fingncihl siatements., Asse81ng 8ignificanl 8¢COILniin8 esiimales for bias: and Audiling the ri.%k of management override of conirols, including ihrough iesiing journal eniries and oiher adjusiinenL% for appropriateness. and evaluating th¢ busitt raiionale of signific8nl traitsaciions outside the nomial course or busiiie55. Idenlir and re5 ondin 10 risks ofmaierial missl¥tewRDi due I non<om lianc re lations We considered ihe exienl ¢0 which non-compliance mi( have a nterIal errKi on ihe fiiiancial sialeinents. W¢ al$0 ¢onsidered those laws and rc¥ulations ihal have a dire¢l iinpacl on ihe financial stalements such as the Companies Act 2006 and the chan.iies S(atemen¢ o1R¢conunded Praciice ISOR2s) FRS 102. The charitable company is subjeci io laws and regulations that direcily atrect ihe financial staletnenis includin8 fin8n¢ial reporting legislation, taxation 1¢8islation (payroll thxes). and pension legislaiion and we asse55ed Ilie exleni or compliance with these laws and regulatiot)s as part of our predureS on the relaied financial sialements iten)s. As the charitabl¢ COMpY is regulated, our assessmeni ofrisks involved gaining wn understhndill8 ofthe control environment including ihe group's and the charitable Companys procedure5 lor complyin8 w¢h Tegulatory requiremenis. We communicate(l identified laws and regulations throughout our tean? and r¢n]ained alefl to any indications of non-compliance thTou8houi the audii. Our Procedures included.. Discussion with iknse in charge with arwj from iTh5p¢ction of the enti5 regulatory at legal correspondence,. Discussion with those charged with rnanagemeni the policies and proeedures regarding ¢omplian¢e with laws and regulations., Reviewing financial 5tatcment di10$UreS testing to supporting documentation to a&8ess compliance with applieable laws and regulations. and - Enquiry of managenKnt, those charged with governance ar0d actU818nd poteniial litigation and claims. Page 8
Report octhe IDdependent Audilofs t• tbe Members of UK Christian S¢hooLs Lid There are inherent limitations in thc audit procedure5 de5crib¢d above. We are less likely kn become aware of in5tance5 of noO[nPlianc¢ wath laws and regulatlOn5 that are nol c105cly relaied to events and tTan5actioThs reflecled in the fLnancial statements. Also. the risk of nol detecting a material rnisstat¢ment due to hud is higher than the Tisk of not detccting onc resulting fri)m eTtOT. as fraud m¥y involve deliberate nCe1]ment by. for example. forgery or intentional misr¢pr¢scniaiions, or through collusion. W¢ ar¢ noi r¢5ponsibl¢ for pr¢vMting nOnn7p11ancc or fraud and cannot ¢xp¢d¢d to d¢l¢¢t noncompliance with all laws and rcgulations A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at ww¥.frc.or8.uklauditsTrrsresporLsibiliiies. This description forn)s pan of Repon of the IndeperKient Auditor5. Use of our r¢por¢ This report is made solely lo the ¢hari¢able ¢ompooy's members, as a Ixxly. in accordance with Chapier 3 of Part 16 of the Companies A¢t 2006. Our audit work has been undertaken so ihai might state to the charitable company's members those matter5 we ar¢ requirtd to stste LO them in an auditor5. report and for other purw)se. To the fullest extent pemilted by law. we do not a¢cept or &ssume responsibility to anyone other than the charitable conipany and the cliaritable company's memb¢r5 as a ix)dy. for our audii work. for this repon, or foT ihc opinions wc have fonned. G8reih Hushes c ACA (Senior Sialulory Auditor) foT and on behalf of Garside and Co. Limited Cliartered Accountant & Sialuiory Auditor Suitc 631, Lin¢n Hall 162-168 Rc8ent Sireei London WIBSTG Dai¢.. Page 9
UK Christian Schools Ltd Statement of Fln*n<ial A¢tivilies for the Year Ended JI Allgust 2024 2024 Tolal fjJlld5 2023 Total nds UJwtri¢ted fund Restricred Notes INCOME AND ENDOWMENTS FROM Chxrltable aelivitie5 Growth of member schools 2,501 2.501 254.998 Investment iticome Other income 8,065 239,498 8.065 239.498 160,998 Totsl 250,Ih54 250.064 415,996 EXPENDITURE OLY Charitable activities Gro¢h of rnembei schools 331.890 331,890 182.822 NET INCOMEIIEXPENDITURE) Transfers bctween fund$ (81,826) 279,493 {81,826) 233.174 16 (279.493) N¢t tnovement in fund$ 197.667 (279.493) (81.8261 233.174 REC0Tr4CILIATION OF FUP4DS Total funds brought forwaid 1.518.703 279.493 1.798,196 1.565.022 TOTAL FUNDS CARRIED FORWARD 1.716.370 1.716,370 1.798.196 The notes fo part of these financial ststemenls Page 10
UK ChriStiA S¢hools Ltd BxlgIlte Sheet 31 August 2024 2024 Total funds 2023 Total funds Unrcstricted fund Restricted fijnd Notes FIXED ASSETS Tgible ¥set$ 4,535.276 4,535.276 4,521,206 CURRENT ASSEIS Debtor5 Cash at bank 12 7.522 451.898 7,522 461,898 2.070 519.111 iO,IMJO 459,420 10.000 469.420 521,181 CREDITORS Amounts falling due within one year 13 {78J26) (10,(M>o) (88J26) (44,191) NET CURRENT ASSETS 381.094 381,094 476.990 TOTAL ASSETS LESS CURRENr LIABILITIES 4,916J70 4.916J70 4,998.196 CREDITORS Amounts falliDg due after more than OD¢ year 14 (3200.000) (3200,000) (3,200,000) NET A&8ETS .716.370 .716.370 1.798.196 FUNDS Unrestricted funds.. General fvnd Restrict¢d fithds 16 1,716,370 1,518,703 279.493 TiyfAL FUNDS .716J70 1.798.196 These finan¢ial statements have beep prepared in accordan¢t the proYi$itsffj applicable to charitable companies subject to the stnajl Companies i¢gimt. The financial 5tat¢ments were approved by th¢ Bwd of Trustees and authorised foT iSSLie on 141Q4125 . . ar>d wert siVd on its b¢haif by.. Mr S R G Wilde- Truste¢ Revd C D Fishlock- Tru5t¢e The T¢t5 forni part of these financial sthiemuits Pagell
UK Christign Schools Ltd Notes to Ihe Financial S¢aternents for ihe Year Ended 31 August 2024 ACCOUNTING POLICIES Basls of pr¢paring th¢ financial 51attmentS The financial statements of the charitablc conwany, Ththich is a public b¢ncfii Cnriry under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Aceounting and Reportjng by Chatities". Statement of Recommended Prdctice appltcable to Charities preparing theiT accounts a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standatd 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. aT]d the CoTnpanies Act 2(K)6. The financial Statements have been prepared under the historical cost convention. UK Chrislian Schools Ltd meets the defiDition of a public benefi( entily Under FRS 102. knets and liabililies are in2tially recogni5ed at bj'storicai cost or transaction value unless othenvise sted in the relevant accounting policy. The fllwiciaI 5taten]enls ale prepared ill pouud slerling {£). which is the fiujclional cuttency of the charitable company. Monetary amounis in these fuMncAal slatements ase rounded to the nearest £. Igl status The charity Is a company limited by guardntee. The berS of the company are the tsustees named on page l. Under th¢ tem)s of the MernoTandum of Association, Én the evejjt of the chlty being wound up, the liability in respect of the guarantee is limited to £1 per member of the coll]pany. Going Concern The trustees consider there are no material uncertaillties about the ¢FlIable cornpans ability to Continue as a going concem. The review of the fUnCIal positioJL reserve levels and fulure plans gives tnjsiees confidence the chariiable company remai$ a going concern for the foresttable futLWe. InctstThe reeognition All illCLime is recogniscd once the charitable company has entiilement to the incoffte, it is probable that the income will be received and the amount ofincome receivable Can be measured reliably. Donated services or faciliiies are recognised when the rhatitable Company IMS conth)l over the item, any ¢onditions associated with the donated iiem have been met. the receipt of economic benefit from the use of the charitable company of the it¢m is probabl¢ and that econoTDi¢ benefil can be measured reliably. In accordance with thc Charities SORP (FRS 102). the gelleral volunteer tin is not TecognLSed. Interest receivable Inter¢st on funds held on deposit is iDclu¢Jed when receivable and the atnount be nKasured reliably by the charitable company.. Ihis 1$ nornnlly upon nolification of the interes¢ paid or payable by the bank. EipeThditure Liabilities are ieeognised as expenditure &$ soon as there is a legal or consuCtive obligation con]mitling the charity to that expenditure. it is probable that a traThsfrr of economic benefirs will be r¢quir¢d iu settlennl and the amount of ihe obligation can be measured reliably. All expenditure is accouted lor OD an a¢¢nS b&sis and h&$ been classified under headings that aggregate all cost relaied to the category. Where costs catLDOi be directly attributed to particulat headings they have been allared to activities on a basis consisni with the of SOurCes. Grants payable are charged in the year when the offer is made except LD those cases where the offer is conditional, such grants being recognised as expend1ft¢ when the condiii0 attaching are fulfilled. Grants offered subject io conditions which have not been met at the yeaF end dare are noted as a c(Trmmilrnent bui not accrued as expeTKlittJre. Tangible fixed assets Tangible fixed assets are illltially measured at costs and Subsequently n&SUred ar cost OT valuation, net of depreciatiou and any provision for impairtnenl. Page 12 continued...
UK Christian Schoo15 Ltd Notes to the Finanti21 Statements- ¢ontinued for the Year Ended 31 August 2024 ACCOUNTINC POLICIES- eontinued Tangible fixed assets Depreciation is Tecognised so as io WTite off the cosl or valuation less e51imated residual values of all fixed assets over their expected eful lives. It is calculated at the following rdt&%= Fre¢hold propeny- l /0 Strnight line basis Fixtures and fittings- 25*/0 r¢du¢ing balaD¢e basis Any gain or loss arising on ihe disposal of an asset is deiem)ined &$ the difference be'een the sale proceed5 and the value of the ti. and il is recognised in net itiLome,'(expeJbJiiurt) for the year. The fveehtsld pioperties are a resource for the use of the Charity, but provisions axe made to redu¢e su¢h properties to eslinoied open market values as and when ¢o]k8idered appropriate. These assets are cutTently shown in the balance sheet at historic cost and the tn]stees consider theiT tsvera]I maTker value lo be greater than the value at which they are shown in the financial stal¢nKnts. TarAtion The charity is exempt froEn corwTrrdtion lax oll its charitable activi(ies. Fund ac¢ounting Unrestricted fidS are available for use ai the discrelion of the tnLStees in fjjrtbetattce of (he general objectives of Ihe chariiy and which have noi bttn designaie41 for oiher putwses. Restrioted filljds can only be used for panicular restricted purposes within the objects of the ¢haTity. Restrictlolls arise when specified by the donor or when fid$ ate Taised for particular r&stricted PU0$eS. Debtors Trade and other debtors are recognised at the settlemenl alrn¢ after any trade diScot offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank in hgnd Cash at bank and in hand includes cash and sknrt ternTr highly liquiil inVeStnnts with a short nmiurity of three months or less from the date ola¢quisitioD or opening of the deposi¢ or similar account. Liabilities and provisions Liabilities are rccogni5ed when theTe is an obligation at the Balance sheet date as a result of a past event. it is probable thai a transfer of e¢onomi¢ benefii will be required in settlement, and the amount of the se¢tl¢mffl)I can b¢ ¢stimated reliably. Liabililies are recognised at the amount tha( the charity anticipates it will pay 10 settle the d¢bt or the amounl it has ie¢eiYed as advanced payinents for the goods or services it rnust provide. Provisions are n#Sured at the best estimate of the amounts required to settle the obligation. Where the effect of the value of money 15 material. the piovision is b&sed on the present value of those amounts. discounted at the pre t discount rate that reflects the risks specific to the liability. The unwinding of the dsscouni is reCOlS¢d within interest payable #Dd similar charges. Flngn¢ig1 instnimeDtS The chariry only has financial assets and financial liabilities that qualify &% basic fllmncaal insiruJnents. Basic financ1 instNments are IlI]allY recognised at traDsaciion value and subsequently measured at iheir settlement value. Page 13 continued...
UK Christian Schools Ltd Notes to the Finantial Statements- CODtinued for the Year Ended 3] August 2024 CRITICAL ACCOUNTINC JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY stimates OI judgemeJbts aTe continually evaluated atMI are based on hisrorical experience and other factors, including expectaiion5 of future events that are believed io b¢ r¢asonable under the cinumstsnces. Critical accouniin esiimates and assu liorL8.- The charitable company nTrakes tinteS and as5LunptioAs concerning the future. The resulting accounting estimates and assLllnptiotJs will, by d¢finitioD, seldoTn wual th¢ rclatrd octu31 rc5ults. The c5tirnatC5 and as5uinptions that have a sigrllficaDt risk of ca18 a rnaterial adjustment to the carying amounts of assets and liabilities within the next financial year discu&sed in the accounting policies above. INVESTMENT If4COME 2024 2023 Deposit acetsunt interest 8.065 INCOME FROM CHARITABLE ACTIVITILS 2024 2023 Aciivity Growth ofmernber sChIS Building fund (kknations 2.501 254,998 OTHER INCOME 2024 2023 Rental income 239.498 160,998 CHARITABLE ACTIVITIES COSTS Grant funding of activiti¢S (see no "rect Costs (stt note 71 8) Totals Growih of membcr 5ch4x)Is 249,450 82.440 331,890 DIRECT COSTS OF CHARITABLE ACtIVITIES 2024 2023 Legal and professiotthl fees Expansion plan costs Advertising and nwketÈng Insurance Postage and stationery Repairs and maintenance 12,221 3.084 5,580 1,800 433 34 2.243 1,184 397 6,656 109 24.012 6.420 481 2.725 6,810 199 244 3.250 Miscellaneow eApcll5¢S Business fdtes Cleaning premis¢s costs Staff training Bank charges Auditor s remuneratio 1,296 72 3,250 Carried forward 63,127 19.373 Page 14 continu...
UK Chrlstian Sehools Ltd Notes to the Financial Statements- tontinued ror the Year Ended 31 August 21124 DIRECT COSTS OF CHARITABLE ACTIVITIES- continued 2024 2023 Brought fotward Loan arrangement fees Depreciaiion charges Interesi payable a1 similar chaTges 63.127 19,373 20,000 18,239 54,292 33,690 152,633 249,450 111,904 Covern*nce Costs Governance costs incurred during the year ended 31 Augu 2024 and included in Dirxt wsts above: 31.8.24 31.8.23 AudIr'S remuneraiion Legal and professional fees 3.250 12,221 3,250 3,084 15,471 6,334 GIL4NTS PAYABLE 2024 2023 Growth of member schoo15 82.440 70,918 The total gronls pgid lo I$111U1IOnS during ih¢ year was as follows- 2024 2023 Gr0h ofmember schools 82,440 70.918 NEI. IIYCOMEI(EXPENDITURE) Net incomel(expcnditure) is stai¢d after ¢[gIn(CredI11ng>= 2024 2023 Depreciation - owned assets Auditor s remuneration 33,089 3,250 18,239 3.250 io. TRUSTEES, REMVNERATION ATr4D BEYI EFITS There were no Irustees. remuneraiion or other benefits for th¢ year ended 31 Augusi 2024 nor for the year ended 31 August 2023. Page 15 ¢ontinued..
UK Christian Schoots Ltd Note5 to the FinAn<Sal Sialtments- continued for the Year Ended 31 August 2024 io. TRUSTEES, REMUNERATION AND BE.NEFITS- ¢ontlnued Trustett. expeDse5 During the ye2r ended 31 August 2024 thete were £Nil reinthursements to trustees (2023: £10.50) for ¢osts incurred in carrying out their duties. ii. TANGIBLE FIXED ASSETS Fixtures nd rittings Freehold prop¢rty Totals COST At I Septebe1 2023 Additions 4,727,959 31217 4,727,959 47,759 16,542 At 31 August 2024 4.759.176 16.542 4,775,718 DEPRECIATION At I Sepiember 2023 Charge for year 2{.753 33.508 206,753 33.689 181 At 31 August 2024 240261 181 240.442 IYET BOOK VALUE At 31 August 2024 4.i18.915 16.361 4,535,276 At 31 August 2023 4.i21.206 4,521.206 12. DEBTORS: AMOUNTS FALLING DiJE WITHIN ONE YEAR 2024 2023 PT¢payments and accrued income 7,522 2.070 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONI E YEAR 2024 2023 Other loans (see note 15) Trade cieditors Kent dep05lts Accwals and deferred incott 2,041 68,043 10,000 7,642 3.593 5,419 22,750 12.429 88,326 44,191 Page 16 tontsnued...
UK Christian School$ Ltd LNote$ to the FiThgDcig1 Ststements- tontinued for the Ye*r Ended 31 Augllst 2024 14. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN OLYE YEAR 2024 2023 Bank loam Is¢¢ note 15) Other loall5 (see t¢ 15) 2,0(K),000 1,21KI,INM) 2,1)00,O(K) 1,200,0(K) 3,2(Kl,(xhi 3,200.0(K) The Otiier loan5 balance as of 31 August 2024 includes a £600.IM)O loan that Was fully forgiven aftei the year end. There are no remaining obligalions associad with this loan. 15. LOAf4S An analysis of the maturily of loa9 is given I10. 2024 2023 Amounts falling due wiihin one year on demand.. Loan iuteiesi a¢cnLal 2,fy11 3,593 Amounts falling due between two and five yVdf5'. Bank loans Other loans- 2-5 years 93.333 1.200,0 1,21K).O(K 1.293.333 I,2,000 Amounts falling due in more than five years". Repayable by iDStalments: Bank loans 1,906,667 2,000,0 16. MOVEMENT IN FUNDS Nel rnovellnt in fijnds Transfers beiwe¢n (unds At 31.8.24 At 1.9.23 UDrcstrict¢d funds General fund 1,518.703 (81.826) 279,493 1,716,370 Restricted funds Re5tticted fund 279.493 (279,493) TOI'AL FUF4DS 1.798,196 (81,826) 1,716,370 Net nM)vement in furts, included in the above are as follow5.. Incoming resources Resources expended Movement in funds Unrestricted funds General fuJKI 250,064 (331,890) (81,8261 TOTAL FUf4DS 250.064 (331,890) (81,826) Pa8e 17 continued...
UK Christian Sehools Ltd Notes to the Financial Statements- eontinued for the Year Ended 31 Augu$l 2024 16. MOVEMELYT IL¥ FUNDS- continued Comparatives for movement In (dS Nei nM)vement in funds Ai 31.8.23 At 1.9.22 Unres¢rlcted funds General fund 1,540.522 (21,819) 1,518,703 Restricted funds RestTicled fund 24.5 254.993 279.493 TOTAL FUNDS 1,565.022 233.174 1.798.196 Comparative nei mov¢m¢nl ID fimds. included ID the above are follows.. Incomin resourccs Resources expcnded Mov¢nKnt in funds Unrestricted funds (ieneral lund 160.998 (182.817) (21.819) Restricted funds Resiricied fund 254.998 {5) 254,993 TOTAL Fuf4DS 415.996 (182.822) 233.174 17. RELATED PARTY DISCLOSURLS The following tnEStees wcre also trustees of London Christian School Ltd- Revd L Fishlock Mr S Wildc (rc5igncd 20 November 2023) During the year, UK Christian Sch¢)ols Ltd received renlal income totalling £148.926 (2023.. £141,835) from London Chrisiian school Lid for the renial of 40 Tabard Str¢ci, Inndon SEI 4JU. 18. POST BALAP*'Ck SHEET EVLNTS Subsequent to the year ended 31 Au8USt 2024, the charity wted forgiveness of a £6(KI,000 108n. As of the reporting dat¢, this loan is li51cd under Other loans in Cr&Jitors'. Anx)unts fallin8 due after more than one year. Page 18
UK Christian Sthofyl$ Ltd Detailed StalemeThl of Financial A£livitie$ for the Year Ended Jl Augus12024 2024 Total funds 2023 Total fimdg Unrestricted Kestricied funds INCOME AND ENDOWMENTS Investment Income Deposit a¥¢ouni interes¢ 8.065 8.065 Charitablt oe¢ivitie$ Building fund dunatiot]s 2.501 2.501 254.998 Other income Renial Income 239,498 239.498 160.998 Ttst#l in¢omlAg r¢xoure 250,064 250,064 415,996 EXPENDITURE Charitabl¥ #ctivitjL'S Lebiidl and professional fees Expansion plan cosis Advertising and m&Tketing InSUrae Po.%lage And stationery eplIr8 and maintenance 12.221 12.221 3,084 5,580 1,800 433 34 2.243 1,184 397 6.656 6.656 109 24,012 6.420 481 2,725 6.810 199 244 3,250 24.012 6,420 481 2.725 6.810 Misr¢llaneou$ eApens¢$ Busines.$ ra¢es Cleaning premises costs Siatrirainin8 Bank charge5 Audii()r's remuneration Loan arrangemeni fees Depreciaiion freehL)Id property Fixturcs and fittings Loan inieresi payable Grants lo ins121ution5 1.296 244 3.250 72 3,250 20.000 18,239 33.509 181 152.633 82,440 33,509 152,633 82.440 54,292 70,918 J31.890 331,890 182,822 Total Tesources expeThJed 331,8 331.890 182,822 Ne¢ Incomc (81.826) (81.826) 233,174 Th page does wt fomi part of the statutory fillancial stAten*nts Page 19