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 So) (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 siV￿d 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 s￿ted 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 £. I￿g￿l 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 ch￿lty 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 ¢F￿lIable cornpan￿s ability to Continue as a going concem. The review of the fU￿nCIal 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 consu￿Ctive obligation con]mitling the charity to that expenditure. it is probable that a traThsfrr of economic benefirs will be r¢quir¢d iu settlen*nl and the amount of ihe obligation can be measured reliably. All expenditure is accou￿ted lor OD an a¢¢n￿S 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 all￿ared to activities on a basis consis*ni 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 fi￿dS 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 fi￿d$ ate Taised for particular r&stricted PU￿0$eS. Debtors Trade and other debtors are recognised at the settlemenl alr￿n¢ after any trade diSco￿t 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 inVeStn￿nts 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 reCO￿lS¢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 financ￿1 instNments are I￿lI]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 ￿tin￿teS 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 ca￿1￿8 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 sCh￿IS 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 a￿1 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 AudI￿r'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 Gr0￿h 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