Reglslered number: 06953650
Charfty number: 1132122
NEW SCHOOLS NETWORK
(A company Ilmlted by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
*ADVAZHQX'
3010112025
COMPANIES HOUSE
A05

NEW SCHOOLS NETWORK
(A Company Ilmited by guarantee)
CONTENTS
Page
Relerence and admlnlstratlve delall8 ol Ihe charltyi Its Truslees and advlser8
Truslees. report
Trustees. responslbllltles slatement
Independent audilovs report on Ihe flnancial statements
Stalemenl ol financial actlvltles
Balan¢6 sheel
13
Notes to Ihe flnanclal glalemenls
14-22

NEW SCHOOLS NETWORK
{A company Ilmlled by guaraniee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 JUNE 2024
Tru8tee8
Oavld Ross, Chair of Truslaes
Julie Kirkbride, Vice Chair of Truslees
Simon Amess
David Hall
Philip Jones
Sir Nicholas Weller
Company R•glster•d
Number
06953650
Charity Reglstered
Number
1132122
Regislered Offlce
10 Sl. James's Plac•
London
England
SW1A 1NP
Company Secrel•ry
David Hall
Independenl Audltors
Streets Audit LLP
Chartered Accountants & Statutory Audilor
1 Mark Squara
Shoreditch
London
EC2A 4EG
Bankers
Lloyds Bank PIC
25 Gresham Slreel
London
EC2V 7HN
Sollcltors
Charles Russell Speechleys LLP
5 Fleet Place
London
EC4M 7RD
Page 1

NEW SCHOOLS NETWORK
(A company limited by guaranlee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The trustees (who are also directors of the charity for Ihe purposes ol the Companies Act) present their Annual
report together with the audiled financial slatemenls of New Schools Network ('Ihe charity or 'NSN'I for the year
ended 30 June 2024.
The trustees confirm that the Annual report and financial slalemenls ol th8 charity have been prepared in
accordance with the accounting policies set out in note 2 to the accounls and comply wtth the Charities Act
2011 , the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by
Charities.. Slalemenl of Recommended Practice (Charities SORP) applicable to Charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS
1021 (effeclive 1 January 2019}.
Slru
ure Govarnance and Mana
Conslilution
NSN is a charitable company, limited by guarantee, and was set up by a Memorandum ol Association on 6 July
2009, with charitable status established on 14 October 2009. 11 is governed by its Memorandum and Articles of
Association, as amended on 18 April 2018.
Members. Llablllly
The liability of each member of NSN in the event ol winding up is £1. AI 30 June 2024, Ihere V￿re six guaranlor
members (the trustees) as noted on Page 1.
Organlsatlonal Slructure and Declslon Maklng
The management ol the charity is Ihe responsibility ol the trustees who are appointed under Ihe lerms ol Ihe
Articles of Association.
Trustees operale two sub-committees - an audil, finance and risk committee and a remuneration committee.
Only Iruslees are members ol the committees.
The day-to-day management of the charily is the rgsponsibilily of the Iruste8s. NSN rK> longer has any
employees. The truslees use the services ol contraclors and service providers vAiere nec8ssary who operate
under the control or supervision ol one ol more truslees.
Aecrultment and Appointment and Tralnlng and Induction ol Trustees
The Irustees are the directors of the charilable company in accordance with the provisions of the Companies Act
2006. The appointment of new Iruslees is made by resolution ot Ihe trustees. The policies and procedures.
adopted for the induction and training of new trustees are tailored lo their individual needs, Commensurate wilh
their experience, ensuring that they understand their oblualions and possess a sufficient knowledge as to how to
discharge them. The Trustees usually meet al leasl twice a y8ar. They are responsible lor directing all strategic
decisions of Ihe charity.
Page 2

NEW SCHOOLS NETWORK
(A company Ilmited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Aelaled Partie•
The charily requires all trustees to declare any business interests. Related party transactions are disclosed in the
notes to the accounts.
Rlgk Management
The trustees have assessed the major risks to which Ihe charity is exposed, in particular those related lo the
operations, governance, and financ8s of the charity, and are salislled that syslems and procedures are in place
to miligale exposure lo the major risks.
Ob
eclives and Ac
Ivllle
Oblectlves
The objecls of the charity are lo promote, through advice and a5sislance, Ihe advancement of education in
mainlained charitable schools (within the meaning of the Education Acts) and academies (established in
accordance with th8 Academies Act 2010 and any successor legislation), including by assisting with Ihe creation
of new schools of this sort, with a view to improving educational opportunitl8s for young peop18 and in particular
Ihose in necessitous circumstances.
In the turlherance of the above objectives, NSN will seek to defend Ihe freedoms which have been a vital enabler
of the oulslanding conlribution made by Free Schools and Academies lo improvements in education in England
and Iheir ability to innovate to respond lo local educational and skills needs so that Ihey can continue their vilal
work.
The trustees confirm that Ihey have raferred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the charrty's aims and objectives and in planning lulure activities and
S8tting the grant making policy lor the pariod.
Actlvllles
In th8 year 8nded 30 June 2023 the wind down of operating aclivilies conlinued with all employees leaving the
organisalion by 31 October 2022. by which lime the activities and ongoing cost base of NSN were low and
support was pul in place to develop the next stage of ils aclivilies. It is anticipated that grant giving will
commence in 2024125.
Golng Concern
The charity is transitioning lo a grant making charity, prior lo wind down. The cost base of the charity is now low
and future spending commitments are low. The trustees are comlortable thal Ihere are sullicient reserves for the
charily lo continue as a going concern for the foreseeable fulure being at least twelve monlhs Irom the approval
ol the financial slatements.
The trustees continue to adopt Ihe going concern basis in preparing the financial stalemenls. Further datails
regarding the adoption of the going concern basis can be found in Ihe Accounting Policies.
Page 3

NEW SCHOOLS NETWORK
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Financial Review
During the year NSN operated with minimal income. being interest income on cash deposils. and continued to
incur a low level ol running costs reflecting ils low level of activity. The charity is now ready lo begin the next
stage ol its activity as a grant-making organisation.
During the year NSN generated an increase in lunds of £5,094 compared with a reduction in funds of £6,237 in
the previous year. As a result, reported net assets are £690,334 as at 30 June 2024 compared with £685.240 as
at 30 June 2023.
Cash balances al 30 June 2024 were £930,472 {30 June 2023 - £934.293). Cash balances are invested in a
range ol bank and Building Society accounts, most of which are interest b8aring at fixed or floating rates.
Financial and Risk Mana
emenl
Objecllves and Pollcles
The Iruslees consider risk during their regular meetings and regularly conduct reviews lo ensure that robust
syslems are in place to assess and miligale key risks
for example, security and valuation of cash balances,
and preparalions lor granl-making activities, including the Consideration ol any related parties.
Regeryes Pollcy
As a grant making charity going forwards, Ihe running costs and working capital requirements of NSN have b8en
signif￿antlY reduced.11 is therefore Ihe Truslees, inlention lo reduce Ihe level ol reserves held by the charrty ovgr
time through the issue of grants which will be paKI out in lurtherance ol ils objectives.
Investment Policy
The charity seeks lo produce the best financial return wilh a minimal level of risk taking inlo account planned
lulure cash flows and Ihe need for Ilexibilily. Cash is invested in accounts with a term ol up to 15 months.
Plans lor the Future
Over the next year the trustees expect to commence making grants to free schools and academy Irusls.
An unaccepiable number of children continue to fail to reach their potential because they lack access to an
excellent education. Too often, a child's background dictates their destination in life, entrenching inequality and
impacting communities for generations to come.
NSN continues lo envisage a country where every child has an equal chance to succeed in life, irrespective of
their background and will continue lo focus its work on ending educational inequality once and for all.
In line with Ihe charity's founding mission, the new grant giving will focus on supporting recipients Ihat are:
promoting impaclful educational innovation particularly targeted in left behind communities in
England;
championing causes to ensure Ihat every child - no matter their background, income, or geography -
can access an excellent education
advocating for young people, breaking the barriers of disadvantage and encouraging innovation in the
sector.
Page 4

NEW SCHOOLS NETWORK
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Provislon of Informatlon lo Audllors
Each of the persons who are Iruslees al the tlme when this Truslees, report is approved has confirmed Ihal..
so far as that Iruslee is aware. there is no relevant audit information of which the charitys auditors are
unaware, and
that Iruslee has taken all Ihe steps that oughl to have been taken as a Irustee in order to be awar8 ol any
information needed by the charitls audrtors in conneclion with preparing their report and to establish that
the charitvs auditors are aware of that information.
In preparing this report, the trustees have taken advantage of the small companies exemptions provided ty
section 415A of the Companies Act 2006.
Approved by order of the members of the board ol trustees and s¥ned on their behall by..
D•vld Ros$
Chair ol Trustees
Date.. 19. 12. IL
Page 5

NEW SCHOOLS NETWORK
(A company limlted by guarantee)
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 30 JUNE 2024
The trustees (who are also th8 directors of th8 charity for the purposes of company lawl are r8SF)onsilJe for
preparing the Trustees. report and the linancial statemenls in accordance Wlth applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practice}.
Company law requir8s the trus188s lo prepar8 financial slatements for each financial p8riod. Under company
law, Ihe trustees must not approve the linancial slalements unless they are satisfied that they give a Irue and fair
view of the state of affairs of the charity and ol its incoming resources and application ol resources, including its
income and exp8ndilure, lor that period. In preparing these financial stalem8nts. the trustees are required lo..
select suitable accounting pOI￿leS and then apply them consislenlty;
observe the methods and principles of the Charilies SORP {FRS 102).
make judgments and a¢¢ounling estimates that are reasonable and prudenl,.
slate whether applicable UK Accounting Standards {FRS 102) have been followed, subjecl lo any material
departures disclosed and explained in the financial statements.,
prepare the financial slalements on the going concern basis unless it is inappropriate lo presume Ihat Ihe
charity will continue in business.
The trustees are responsible for keeping adequate a￿OuntIng records that are sufficienl lo show and explain the
charity's transactions and disclose with reasonable accuracy al any time th8 financial position ol the charity and
enabl8 tham lo ensure that the financial slatemenls comply with the Companies Act 2006. They are also
responsible for safeguarding Ihe assels of the charity and hence for taking reasonable sleps for Ihe prevenlion
and delection of fraud and olher irregularities.
Approved by order ol the members ol Ihe board of trustees and signed on ils behall by..
Davld Rosg
Chalr of Trustees
Oat8'.
19. 12 114
Page 6

NEW SCHOOLS NETWORK
(A company Ilmlted by guarantee)
INOEPENOEKf AUDITOR'S REPORT TO THE MEMBERS OF NEW SCHOOLS NETWORK
Opinion
We have audiled the financial slalefflenls of New Schools Network (the 'charitY) lor the year ended 30 June
2024 which comprise the Statement of financial activities, the Balance sheet and Ihe related notes, including a
summary ol sonilicanl accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including Financial Rewrting Standard
102 'The Financial Fleporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally
Accepted Accounling PraCt￿e).
In our opinion the linancial slalements..
give a true and fair view ol the stale of the charitable company's affairs as at 30 June 2024 and of its
incoming resources and appI￿allOn ol resources, including rts income and expenditure lor the year then
ended;
have been proparly prepared in accordance wlh Uniled Kingdom Generally Accepted Accounting
Pracltce. arKI
have been prepared in accordance with the requirements ol the Companies Act 2006.
Basls for oplnlon
We Conducted our audit in accordance Y￿th International Standards on Auditing {UlQ (ISAS {UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilitiès lor the audil
ol the financial slalements section of our report. We are independent ol the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard. and we have lullilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is
sufficient and appropriale to provide a basis for our opinion.
Conclusions relallng io golng concern
In auditing ihe financial slalemenls, we have concluded that the Iruslees, use ol Ihe going concern basis of
accounting in the preparation ol the linancial slalemenls is appropriate.
Based on the work we have performed, we have not idenlilied any material uncertainties relating to events or
conditions Ihat, individually or collectively, may cast signilicant doubl on the charitable companvs ability to
continue as a going concern lor a period of al least ￿e1ve months from when the financial slatements are
authorised lor issue.
Our responsibilities and Ihe responsibiltlies of the trustees with respect to going concern are described in the
relevant sections of this report.
Page 7

NEW SCHOOLS NETWORK
(A company Ilmiled by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW SCHOOLS NETWORK {COfrnlNUED)
Other Informatlon
The other information comprises the inlomation included in Ihe Annual report other than the financial statements
and our Auditor's report ther8on. Thè trustees ara responsible lor the other information contained within Ihe
Annual Teport. Our opinion on the linancial statements does not cover the other inlormalion and, except to the
extent olherwise explicitly staled in our report, we do not express any form of assuranca conclusion thereon. Our
responsibility is to read the other information and, in doing so, consider whether the other information is
materially inconsislenl wlh Ihe financial statements or our knovledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determina whether this gives rise lo a material misslatemenl in Ihe financial
slatemenls Ihemselves. 11, based on the work we have performed. we conclude that there is a material
mis5talement of Ihis other inforrnation, we are required lo report that lact.
We have nothing to report in this regard.
Oplnlon on other matters prescribed by Ihe Companles Acl 2006
In our opinion, based on the work undertaken in the course of Ihe audil..
the information given in the Trustees, report lor Ihe linancial period for which the linancial statements are
prepared is consistent with the financial statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Malters on which we are required to report by exceptlon
In the light ol our know18dg8 and understanding ol the charitabfe company and its environment obtained in the
course of the audit, we hava not identilied material fflisstatements in the Truslees. report.
We have nothing lo raport in respecl of the following matters in relation lo which Companies Act 2006 requires
us to report to you il, in our opinion=
adequate accounting records have not been kept, or r8lurns adaquale for our audit have nol been
received from branches not visited by us., or
the financial statements are not in agreement with Ihe accounting records and relums. or
certain disclosures of trustees, ramuneralion specified by law are not made; or
we have not received all the information and explanalions we require for our audil,. or
the trustees were not enlitled to prepare the financial statemenls in accordance blith the small companies
regime and lake advantage ol the Small companies, exemptions in preparing the Truslees, report and
from the requirement lo prepare a Strategic report.
Page 8

NEW SCHOOLS NETWORK
(A company Ilmlted by guaranlee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW SCHOOLS NETWORK {coKfiNUED)
Aesponslbllitie¥ ol trustees
As explained more fully in the Trustees. responsibilities statement, the Irust88s (who are also the directors of the
charitable company lor the purposes ol company law} are responsible lor Ihe preparation of Ihe financial
statements and lor being satisfied that Ihey give a true and fair view, and lor such internal control as the truslees
determine is nec8ssary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or èrror.
In preparing ihe fi'nancial slatemenls, the trustees are responsible for assessing ihe charitatde companvs ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using Ihe going
concern basis of accounting unless the Irustees either intend lo liquidat8 the charitable company or lo cease
operations, or have no realistic allernalive but to do so.
Audilor's responslbllltles lor the audit of the flnancial statements
Our objectives are lo obtain reasonable assurance about whelher th8 financial statements as a whole are free
from material misstatement, whether due lo fraud or error, and lo issue an Auditor's report that includes our
opinion. Reasonable assurance is a high level ol assurance, bul 15 not a guarantee Ihal an audit conducted in
accordance wilh ISAS (UK) will abways delect a material misslatement when il exists. Missialemenls Can arise
from fraud or error and are consKlered material il. 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.
Irregularilles, Kicluding fraud, are instance5 of non-compliance with lavts and regulalions. We design procedures
in line with our responsibilities, outlined above, lo detecl material misstatemenls in respect of irregularities,
including fraud. The extent to which our pro¢edur8s are capable of detecting irregularities, including fraud is
detailed b810w.'
Our approach lo identilwng and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulalions, was as follows:
the engagement partner ensured that the engagemenl leam collectively had the appropriate competence,
capabilities and skills lo identify or recognise non-compliance wilh applicable laws and regulations.,
we identified the laws and regulations applicable to the charity through discussions ￿th Ihe trusteas and
other management and from our commercial knowledge and experience of the charity and saclor in
which il operal8S',
we focused on specific laws and regulalions whrch we considered rnay have a direct material effect on
the financial statements or the operations of the charity including ihe Companies AGt 2006 and charity
and taxation legislation.,
we assessed Ihe extenl of compliance with Ihe laws and regulations idenlilied above through making
enquiries of management and inspecting legal correspondence- and
identified laws and regulations were communicated within the audit team regularly and the team
remained alert lo I￿tanCeS of non.compliance Ihroughoul the audit.
We assessed the susceptibility of the charills financial statements lo material misstatement, including obtaining
an understanding of how fraud might occur, by-.
making enquiries of management as lo wher8 they consKlered Ihere was susceptibility to fraud. Iheir
knowledge ol actual. suspected and alleged fraud. and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
Page 9

NEW SCHOOLS NETWORK
(A company Ilmited by guaranlee)
INDEPENDENT AUDITOR'S AEPOAT TO THE MEMBERS OF NEW SCHOOLS NETWORK (CONTINUED)
To addrgss the risk of fraud through management bias and override of controls,
performed analytical procedures to identify any unusual or unexpected relationships.
tested journal enlries to identity unusual Iransactions.,
reviewed the eligibility to funding.,
agreed a sample ol employees on the charity payroll lo existènce and agreed Ihe accuracy of their pay;
assessed and reviewed the appropriateness and effectiveness of the key Systems and controls. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-cOm￿lance with laws and regulaltons, we designed procedures
which included, but W8re not limiled to..
agreeing financial statement disc105ures to underlying supporting documentation:
reading Ihe minutes of meetings ol thos8 charged wilh governance-,
enquiring of management as to actual and potential litigation and claims., and
reviewing any correspondence with HMRC. relevant regulators and th8 charity's legal advisors.
There are inherènt limitations in our audit procedures descrI￿d abov8. The more removed Ihal laws and
regulations are from linancial Iransaclions, the less likely it is that We would become aware ol non-compliance.
Auditing standards also limil the audit procedures required lo identify non.complianc8 with laws and regulations
lo enquiry of the Trustees and olher managemenl and the inspection of regulatory and legal correspondence, if
any.
Material misstatements that arise due to fraud can be harder to delecl than those that arisa from error as they
may involve deliberate concealmenl or collusion.
A further description ol our responsibililies for the audit of the financial statements is located on the Financial
Aeporling Council's website at: www.frc.or
.uklau
This description forms part of our
Auditor's report.
Page 10

NEW SCHOOLS NETWORK
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW SCHOOLS NETWORK (CONTINUED)
Use of our report
This rewrl is made solely lo the charilable company's members, as a body, in accordance wilh Chapter 3 01 Part
16 01 the Companies Act 2006. Our audit work has been undertak8n so that w8 might slate lo the charitable
companys members those matters we are required to slate lo them in an Audilorfs report and for no othar
purpose. To the fullesl extent permitted by law, we do not accept or assume responsibility io anyone other than
the charitable company and its members, as a body, for our audit work, for Ihis report, or for Ihe opinions we
have formed.
Robert Anderson {SenSor gtalutory audltor)
for and on behalf of
Streets Audil LLP
Charlered Accountants & Slalulory Auditor
1 Mark Square
Shoredilch
London
EC2A 4EG
Dale.. 24 January 2025
Page11

NEW SCHOOLS NETWORK
(A company limlted by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
For the year ended 30 June 2024
Unrestricled
funds
2024
Tolal
funds
2024
Tolal
lunds
2023
Note
Income from:
Investments
Income from other activili8s
25,560
25,560
8. 184
115
Total Income
25.560
25,560
8,299
Expendlture on:
Charitabl8 activitl8S
20.466
20,466
14,536
Total expenditure
20,466
20,466
14,536
Net movernent In funds
5,094
5,094
(6,237)
Reconclllatlon ol lund•:
Total funds brought forward
Net movomenl in funds
685,240
5,094
685,240
5,094
691.477
{6,237)
Tolal funds carrled lO￿ard
690,334
690,334
685,240
The Statement of financial activities includes all gains and losses recognised in Ihe year.
The note5 on pages 14 to 22 form part ol these financial stalemenls.
Pag8 12

NEW SCHOOLS NETWORK
(A company limiled by guarantee)
REGISTERED NUMBER: 06953650
BALANCE SHEET
AS AT 30 JUNE 2024
2024
2023
Nole
Current assets
Debtors
Cash al bank and in hand
250
930.472
934,293
930,472
934,543
Creditors- amounts falling due within one
year
10
<240,138)
(249,303)
Net currenl aJset•
690,334
685,240
Total assets less current Ilabilities
690,334
685,240
Net assets excludlng ponslon agset
690,334
685,240
Total nel agsetg
690,334
685,240
Charfiy lunds
Restricted lunds
Unreslricted lunds
690,334
685,240
Tolal lunds
690,334
685,240
The truslees acknowledge their responsibilities for complylng with the r8quiremenls of the Act wilh respect to
accounting records and preparation ol tinancial statements.
Th8 linancial stalemenls have been prepared in accordance 4Mth the provisions applicable to entities subjecl lo
the small companies regime.
The financial statements were approved and authorised for issue by Ihe truslees and sKJned on Iheir behalf by..
Davld Aoss
Chalr of Truslees
Date..
19 12 11
The noles on pages 14 to 22 form part of these financial statements.
Page13

NEW SCHOOLS NETWORK
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
General information
New Schools Network (the charity) is a company limiled by guaranle8 incorporated in England and Wales
and a registered charity. The charity's registered oflice is at 10 St. James's Place, London, England,
SW1A INP.
The charitls principal activity is to improve the quality ol education, particularly for the most deprived. by
increasing the number ol independent, innovalive schools and by giwng grants to academies and schools
within the stale sector in line with ils objeclives.
Accountlng pollcles
2.1 88$18 ol preparallon of flnanclal stalemenls
The financial statements have been prepared in accordance wfth the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Slalement ol Recommended Practice applicabl8 lo charities
prepwing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK
and Republic of Ireland {FRS 102} (effective 1 January 2019), the Financial Reporting Standard
applicable in thg UK and Republic of Ireland {FRS 102> and the Companies Act 2006.
New Schools Network meets the definition of a public benefit entity under FFIS 102. Assets and
liabililies are initially recognised al historical cost or transaction value unless otherwise slated in the
relevant accounting policy.
The chartiable companys luncllonal and presentational currency is GBP.
2.2 Golng concern
The trustees assess whether the use ol going concem is appropriate, i.e. whether Ihere are any
material uncertainlies related lo events or condilions Ihal may cast significanl doubl on the ability of
the charity to continue as a going conern. The Iruslees make this assessment in respecl of a period
of at least one year from the dale ol aulhorisalion lor issue of the financial stalements and have
concluded that the charity has adequale resources lo continue in operational existence for the
foreseeable future, for the reasons set out in the Trustees, Report, thus they continue to adopt the
going concern basis of accounting in preparing Ihe financial statements.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income
will be received and the amount ol income receivable can be maasured reliably.
Granls are included in the Slalement of financial aclivilies on a receivable basis. The balance of
income received lor specific purposes bul not expended during the period is shown in the relevant
funds on Ihe Balance sheel. Where income is received in advance of entitlement ol receipi, its
recognilion is deferred and included in credrtors as deferred income. Where enlillemenl occurs
before income is received, the income is accrued.
Other income is recognised in the period in vthich it is receivable and to the exlent the goods have
been provided or on completion ot the service.
Page 14

NEW SCHOOLS NETWORK
(A company limited by guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
Accounting pollcles (conllnued)
2.4 Expenditure
Expendilure is recognised once there is a legal or conslruclive obligation to transler economic benelit
to a third party, it is probable that a Iransler of economic benefits will be required in settlement and
the amount of the obligation can be measured r&liably. Expendilura is classified by acliwty- The costs
of each actwity are made up of direct costs. Direcl cosls atlribulable to a single aclivity are allocated
directly to that aclivily.
Expenditure on charitable activities is incurred on dY8Ctly undertaking the activities vthich further the
charitys objeclives, as well as any associated support costs.
All expenditure is irKlusive of irrecoverable VAT.
2.5 Intere81 recelvable
Interest on funds hald on deposit is included when r8ceivable and the amount can be measured
reliably by the charity. this is normally upon nolilicalion of the interest paid or payable by the institution
with whom the funds are doposited.
2.6 Deblors
Prepayments are valued at the amouni prepaid net ol any irade discounts due.
2.7 Cash at bank and in hand
Cash al bank and in hand includes cash and short-lerm highly liquid inveslmenls with a short maturity
of eighteen months or less from the date ol acquisition or opening of the deposil or similar accounl.
2.8 Llabllllle8
Liabilities are recognised when Ihero is an obligation al the Balance sheet dale as a result of a past
event, il is probable that a Iranster ol economic benefit will be required in settlement, and Ihe amount
of the settlement can be estimated reliably.
Liabilities are recognised al the amount Ihal the charity anticipates it will pay to settle the debt or the
arnount it has received as advanced payments lor the goods or services il must provide.
2.9 Flnanclal Instruments
The charity only has linancial assels and financial liabililies of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially recognised al Iransaction value and subsequently
measured at their settlement value.
2.10 Fund aceounling
General funds are unrestricted funds which are available for use al the discretion of the Iruslees in
furtherance of the general obje￿iveS ol the charity and vthich have r￿1 been designaled lor other
purposes.
Page 15

NEW SCHOOLS NETWORK
(A company Ilmited by guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
For Ihe year ended 30 June 2024
Investment income
Unreslrlcled
lundg
2024
Tolal
funds
2024
Total
lunds
2023
Bank interest
25,560
25,560
8, 184
Tola12023
8. 184
8, 184
Income Irom other actlvltles
Unrestrlcted
funds
2024
Tolal
funds
2024
Total
funds
2023
Other income
115
Tota12023
115
115
Analysls of expendlture on charltable actlvllle8
Summary by fund type
Unreslrlcled
fund$
2024
Tolal
2024
Total
2023
Charitable activities
20,466
20,466
14,536
Tota12023
14.536
14,536
Page16

NEW SCHOOLS NETWORK
{A company limlled by guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
For Ihe year ended 30 June 2024
Analysls ol expendlture by 8Ctlvllle$
Aclivitie3
undertaken
d1￿Cl1Y
2024
Total
funds
2024
Tolal
funds
2023
General administrative costs
20,466
20,466
14,536
Tolal 2023
14.536
14.536
Page17

NEW SCHOOLS NEfwoRK
(A company limiled by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
Analysis of expendllure by actlvllles (contlnued)
Analysig of dlrect costs
Tolal
fund$
2024
Total
lunds
2023
Offtce costs
Other direct costs
Governance costs
Over provision ol prtor year restructuring provis¢on
1.219
18.951
4.800
(10,434)
15,666
4,800
20,466
14.536
Audltor's remunerallon
2024
2023
Fees payable to the charit18 auditor for the audit of the charity's annual
accounts
4,800
4.800
Fees payable to the charity's audilor in respect of..
All non-audit seNices not included ak>)ve
8,679
6.225
Trustees. remunerallon and expenses
During the year. no trustees receiv8d any remuneration or other b9nefits {2023 - £NIL).
During the period ended 30 June 2024, expenses totalling £47 vKre reimbursed or paid directly to 1
trustee (2023 - £246). The trustee was reimbursed lor Companies House filing lees.
Debtors
2024
2023
Due within one year
Prepayments
250
250
Page 18

NEW SCHOOLS NETWORK
{A Company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
10. Credltors: Amounls lalllng due wllhln one year
2024
2023
Accruals and deferred income
240,138
249,303
2024
2023
Deferred Income
Deferred.income at 1 Juty
Resources delerred during the year
Amounls released from previous periods
232,393
232,393
Deferred Income at 30 June
232,393
232,393
Income deferred at the year end relates to the Barclays Development Programme where funding is to be
applied in lulure periods.
Page 19

NEW SCHOOLS NETWORK
(A company limiled by guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
11. Slatement of funds
Stalemenl of funds - current year
Balance at
30 June
2024
Balance al 1
July 2023
Income Expendllure
UnreSlrl￿ed Funds
General Funds
685,240
25,560
{20,466)
690,334
Unreslrlcled Funds
Gèneral Funds ar8 resources avallable lor use towards Ihe fulfillmenl of any ol Ihe charitys charitable
obieclives al Ihe discrets'on ol the Trustees.
Stalemenl of lund8 - prlor perlod
8alance al
30 June
2023
Balance al
l July 2022
Income Expendilura
Unreslrlcted Funds
General FurKIs
691.477
8,299
(14,536)
685,240
Page 20

NEW SCHOOLS NETWORK
(A company Ilmlted by guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 Juno 2024
12. Summary of lunds
Summary ol lunds- currenl year
Balance at
30 June
2024
Bal•nce at 1
July 2023
Income Expendllure
General funds
685,240
25,560
(20,466)
690.334
Summary of funds- prlor year
Balance al
30 June
2023
galance al
l July 2022
Income Expenditu
General funds
691,477
8,299
(14,536)
685,240
13. Analysis of net assets between funds
Analysis ol net assets between funds - current perlod
Unrestricted
lunds
2024
Total
funds
2024
Current assels
Creditors due within one year
930,472
930,472
{240,138) {240,138)
Tolal
690,334
690,334
Analysls of nel assets between funds- prlor perlod
Unrestricted
lunds
2023
Tolal
lunds
2023
Current assets
Creditors due within one year
934,543
934,543
(249.303) (249.303)
Total
685,240
685,240
Page 21

NEW SCHOOLS NETWORK
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
14. Related party transactions
There were no relaled paty transactions during the year. other than those disclosed in Note 8.
Page 22