REGlSfERED COMPANY NUMBER: 116288947 (England and Wale5) REGISTERED CHARITY NUMBER: I J33092 Report of the Trus¢ee5 and Audited Financial Statements for th¢ Year Ended 31 August 2023 for LoTrdoD Christian School Ltd (A Compan). Limited by Guarate¢) Ga]side and Co. Limited Chartered Accountant & Ststutory Auditor Suiie 631. Linen Hall 162_168 Regeni Street London WIB5TG
London Christiall School Ltd Contents of the Financial Sialements for the Year Ended 31 Augv5t 2023 Pa R¢ferenee and AdThinistrativt Det&ils Report of the Tru$iee$ Report of the Independeni Avditors Statement of Finan¢ig1 Aetiiryties 10 Balance Sheet Cash Flow Stgtement 12 Notes to the Cash Flow Statement 13 Notes to the Financial Statement5 14 10 21 Detailed Statement of Financial AetiTrities 22 to 23
London Chri5tiaD Sch1 Ltd Reference and Admini$lrative D¢talls for the Year Ended 31 August 2023 TRUSTLES C D FishI(k S Wilde (resigned 20.11.2023) J Awnmoun T jon (resigned 2.10.2023) N TrowbridKe (resigned 20.3.2023) N Collctt-whilc C J Hoare A J McCallisi¢r TCWWright MIWesl G K Y Huang (appoinkd 20.11.2023} M J Burden (app)inied 20.11.2023} J D C Monro (apwinied 18.3.20241 cor*lPANV SECRETARY C E Ells¢ REGISTERED OFFICE 40 Tabard Strtt( Lonrk)n SEI 4JU REGISTERED COMPAf4Y f4UMBER 06288947 {Engl&nd and Wal¢81 REGISTERLD CHAIUTY NUMBER 1133692 SENIOR STATUTORY AUDI'foR Gareth Owen Hugh¢5 BS¢ PCA AUDITORS G¥Ide and Co. Limiied CharteTed A¢counlant & Statyii)ry Audiior Suite 631. Linen Fl&ll 162-168 Regeni Stre London WIRSTCJ SOLICITORS M(MMe Barlow LLP Gateway House Tollga Chandlels Ford Fastlci8h. Harnpshire SO53 3TG BANKERS ReliwKe Bank Faith House 23-24 Lovai lane London EC3R SEB Page I
London ChTi5tian School Ltd Report of the Truste for the Year End 31 August 2023 The tN$tees who &re also dire¢iors of ihe charity for the put of the Companies Aa 20(. present iheir Tepoft whth the financial siaiemenis of the Lharity for ihe year ended 31 Augusi 2023. The llleeS hav¢ adopi¢d th¢ piovisioll5 of Accounting and Rcporting by Lharitie5.' Siatcmcn¢ of R¢¢ommended Prnciice applicable lo charilie5 PI¢P)ting their ac£ounts in accordance with ihe FililLia1 R¢p)rting Standard applicable in the UK and Republic of lYel8nd (FRS 102) (effective l January 2019)- OBJECTIVES AND AcfivITIES ObjL¢¢iv¢s and aims Lundon Clwistian School Ltd rcgisicrcd as a charity (Charity NuTnber.- 1133692) in January 2010. The charitable company was rbiablished to provide exccllenl Christian education for ihc ¢hildr¢n of Lot)don. Publlc beD¢fit llic irust¢Ls have considered the Charity Commission's guida¢ on public benefit and. in particular. the specific guidance in relation io charities for the aJvan¢emenl of educatioN and are satÈsfied that ihe activities of London Chrisli8n School Ltd fall within that guidance. Including ihe provision of bursaries cover hardship. ACHIEVF'.MI ENT AND PERFORMANCE C'hariiahli. aitlvliles l.ondon C.hri81iJn SLhool w&8 established in 2007 with the aim of providin8 an excelleni Chrisiian educaiion for children in ceniral l.ondon. In S¢pl¢mber 2009. the sch[ moved into p¢muncni premises on T8[d Street in Borough and we continue to benefit from the spocious. purpose-design¢d and well-mainiained building. We have becn able Iv provid¢ v¢ry high quality eduLation ot a f¢e lev¢1 b¢low th¢ majority of independent s¢h¢M)Is in London. Cliildrcn from all backbjrounds aiiend ihc s¢h¢)ol, wilh thc nujority living within a milc radius of lh¢ school. During ihc 2022.23 year, we Provided bursaries for five children. ranging from 1517/0- IIM)Yo rnIu¢iion of f¢¢s. Wt welcoined an additional sixlecn ¢hildren inio Early Rttepiion and Reception in September 2022. We have seen the children thriving academi¢ally. athd showin8 healthy social and emotional progress. We have coniinued io benefii from our rn¢tnb¢Tship of the Independeni Sch(M)Is ASsl3110n. FINANCIAI. RF.VIEIV -Insnclal poslilun Thc binancial Statements cover all ihe aclivili¢s of th¢ ¢haritable company a1 have Ixen prepared on art attrual b&sis. nur total incoming resources were £1.443.739 (2022- £1356,4061, derived mainly from fees, grdnt income and small donations ceIVed during th¢ y¢ar. This year saw an increase in incomc from our charithble aciiviiie$ in the fomi Orschl fees. as the number ofpupils increased. W¢ also continued to rccctve a healthy amount of incornc from Aftcr School Clubs and extra-curricular activities. Wc Teceived a support grllni from UK Christian Sch(75 Lid of £70.918 {2022.. £65.518) io be used primarily for building mainten8nce cosrs and tl)e funding of one full bursary place. Expenditure on charitable activities amounted to £1,338,124 {2022.. £1,236,788) including Suppon costs of £12,466 {2022.. £13,127). For Ihc y¢ar ¢ndcd 31 Au8U5t 2023 the charitable conjpany returned a net surplus of £105.61512022.. £119,618). The tr115te¢5 are 5at15fied with Ihe financial Posiiion of ihe chatithble company and confirtn that thry have ad¢quate assets available to fulfil their obli8alions. Page 2
LtsThdon Chrnstlan School Ltd Report of the Tru5tct5 for the I'eir Ended 31 August 2023 FINANCIAL REVIEW R¢s¢rvi¥ poli¢y Thc irustces long term aim is to esta61i5h reserves at a level which equaies to approximately three months of unrestricted eharitable expendiluie. The trustees Consider this io be a prudent approach io provide 5uificient fund5 to reswnd lo the n]nning of the school and cnsure that the 5UPWrt and governance c0515 are coverd. The balance for Unrestrict fijnds at 31 August 2023 w&8 £254,604 {2022.. £148,989). Going concern The trustees consider there are no material uncertainties aknut the charitable compan$ ability to continue as a g(Tring concern. The review of the financial posi(ion. reserye levels and filture plans giN'e5 trustees confidence the charitable company remains a going concern for the foreseeable future. Further deiails reging ibe adopiion of the goll concern basis can be found in the No5 to ihe Financial Statements- Accounting Policies. FUTURE PLANS Seplembei 2022 broughi the start of OUT fifleenih yw ai London Chr]"Siian Sch(Kl. The building on Tabard Streei coniinues to meet our needs for the shon iemi. Thc children are spread over eight academic years. from Early Reception io Year 6. with a one-forni entTI' model We began the arademic year with 119 children. We gained and lost some children throughout the year Ar ended in July 2023 with 116 ¢Jiildren. Tlic inajority of leavers were primarily due lo relocation out of London. Our Year 6 ltravers moved on to se¢orvJary schools * the end of the year. We were delighted with their I l+ results. and they accepied compelitive places. ineluding some scholarship awards (indicated bv "). at Alleyn's School {]'). City of tJ)ndon Boys School (l), Highgate School 11). QEH Brisiol (l). sU110n Hioh {I'). Jam&% Allen's Gjrls, School (41, Queen's College I l Tliames Chris¢ian School {2.). The Latymer %chool 111, Whitgift (2,. 1 ). and Colfe's {1* We were thankful for the provision of so many ¢xcellenl feachers, teaching a55iStants and stsff. Miss Nicola Coll¢l¢-White coniinued &$ Headtnistress. She wa5 a55iSted by nine full time and five part time teachers. one trnining teacher and five fvll time teaching assistsnis. We continued 10 bnng in the services of other exLernal ScIalIst teacheTS such as Mandarin. Latin. chess fenciJi& ballet and instnjmental. This level of stan8 en3ble5 US to maintain our exeellent staff to student ratio, a5 well a5 providing a welcome inte[[1 butTer of ¢L)v¢r for staff Lrainin8 or sickness. We continue to rweive enquiries from prospective parents a1 have a very go reputation in the local area. Our inost effective mcaD5 of advertising has been word-of-mouth with satisfied parevts and childten promoting the school. W¢ Continue to be well-subscribed for ihe younger years in the school. STRUCTURE. GOVERNAP4CE AND MANAGEMENT GovcrNiNg document TlJ¢ cliarity is a company limii&J by guaraniee. as d¢finfxI by the Cotnpani&s Aci 21K>6. and is governed by its Memorandum and Articles of As9)ciatton. Charity COD5titutitsn London Christian School Ltd is a company limited by guardntee and a re¥lered charity. Registered company numkr 288947 (gland and Wal¢s) Registered charity number 1133692 Page 3
London Christian Sch1 Ltd Repurt of the Trustees for the Year Ended 31 August 2(123 STRUCTURE, GOVERNANCE AND MANAGEMENr RecrUi1ent #nd appointmeTrt of trustees The Board has the poweT al any time io appoini, by ordinary resolution agreed by a SiTnple TJOty, any PsOn or organisation who is willing to be a Board member. either to fill a casual vaeancy or as an addition to the existing members. Membership is open to other individua]s or organi5ations wbo-. - apply to LoThdon Christian School in the forni required by the BoariL - are approved by ihe Board, and - tesiify in writing their unqualified adherence to the D(trnal Stsiemeni &g sei oui previo$1Y in ihe memordndum of association. Thc number of tNstees shall be not less than three but, unless othetwise deiern)ined by ordinary resolution, shall noi be subject tts any maximum. Induction and ¢raining of new trw$ttts The trusiees keep Ihem5¢1ves up lo date with charity low and glatIOnS p¢rttiinJng to th¢ rducational sector, 50 that they can bring an informed eye to theirwork. The tntslees ensure Ehat the company benefits from hi8h-qtsality investhient and legal advice. Organisational strueturt The twstees, who are also the directors for the pwse ofcompany jaw. a1 who seThed during the ye8r were". C D Fishlock S Wilde (resigned 20.11.2023) J Ammaun T Jones (resigned 2.10.2023) N Trowbridg¢ {r¢signed 20.3.2023) N Collett-white C J Hoate A J McCa]lister T C W Wrtght Mlwesi K Y Huang (appointed 20.11.2023) M J Burdcn (appoillted 20.11.2023) J D C Monro (appoinied 18.3.2024) The Board conSiS of curreni and pasr parenis. staff membeTS and exiemal individuals. all with a passion for seeking io develop our school. They meet each half tetTn to di5CU5S the School action plan and to monitor safeguarding, finances and implemenution of policies. Our thL5tee5 are keen to be involved in School life ihrough visits, assemblics and events. Risk management The trustees have a duty to identify and review the risk5 to ivhich the charitsble ¢ompany is exposed and to ensure appropriate Controls are in place io provide reLwnable &ssurdnce againsi fraud and crnTrr_ Int¢mal systems and pn)cedures are in place to control all financial transactions and ensure the charitable company'5 activities comply with all applicable regulations. Related parties Details of related parties, where the trustee5 have respnsibiliry for other clwities which have dealings with London Christian School Ltd, are set out in the notes to the a¢¢ounts. where applicabk. TRUSTEES, RESPO.YSIBILITY STATEMENT The irusiecs {who are also the direciors of London Chtisiian Sch(K)l Lid for the puwpose5 of company lawl are responsible for preparing the Rep)rt of ihe Tnjsiees and the financial sraiemens in accordanct with applicable law and United Kjngdom Accouniing sndards (Uniied Kingdom GeneTally Accepied Accouniing Praciice). Page 4
London Christian Sch} Ltd Report of the Trustees for the Year Ended 31 August 2023 TRUSTELS, REspof4SIBILITY STATEMENT- continued company law requires the (tuslee5 to prepare fm3ncial sthiements for ¢a¢h finw]cial year which give a true and fair view of the stale of affdjts of the charitsble cotnpany and of the Inwming resoLwces and applieaiion of resources. including rhc income and expenditure. of the ch#Fitable company lor that peritht In prepating those financial staternen the trusiees &tr requiied to gelect suitable a¢¢ovnting w)licies and theD apply them consistently" observe the method5 and principle5 in the Chariry SORP" make judgements and estimates that are reasonable and prndeni: prepknie the financial staternents on the going ¢onc£rn basi5 unless it is inappropriate to presume thJ¢ the charitable company will continue in business. The trustees are r¢sponsibl¢ for kccping propel accounting records which discloK with reasonable accuracy at any titne the fiilancial position Of the rhatitable company and io enable them LO ensure thai the financial 5ts1ements coinply with the Compani&s Act 2(K)6. They ate ajso responsible for safeguarding th¢ assets of the chatitable copanY and hence foT L2king reasonable SpS for tlie prevention and (kt¢¢iion of fraud and other itregulatitit& In so far as the trusiees are aware.. there is no releyant audtt information of which the charitsble wmpany's audiioTS are unaware- and thc irustees have iaken all ST$ ihat Ihcy ought to have taken to make themselves aware of any r¢l¢vanr audit infomiation and to establish that the auditors are aware of that infomli0n. AUDITORS The audiiors. GaTside & Co. Limiied. will be prop0j for re-aptK)intment at the forthcoming Annual General Imeeting. This report has been prepared in accordance with the sla1 provisions of Part 15 of the Cotnpanies Act 2(X)6 relating to small coinpatiies. Approved by order of the board of on ... 29.05.2024 . . and signed on its lthalf by: Ishlock- Trustec PaEe 5
Report of ihe Independenl Auditors to the Mejnbers fjf London Christign School Ltd Opinion W¢ hal'e aUdId thc financial 5taiements of London Chn"stian S¢hool Lid (the 'charitabl¢ cornpany'l for the year ended 31 August 2023 which comprise thc Stat¢meni of Financia] Activities, the Balance Shee( th¢ Cash Flow Statement and notes to the fin&n¢ial statcmcnts, including a summary of signifi¢ant accounting tM)licies. The fiturttial reponing framework that has EEeD applied in their preparalion is applicable law and United KingikTrm Accouuting Stsndarts (United Kingdom Generally Accepted Accounting Praclieel. In our opinion the financial siaicmcnts.. give a true 2nd fair view of the State of the charitable company's affai as ai 31 August 2023 and of its incoming resources and application of resources, includJDg its income and cxpenditure. for ihe year then ended,. have been properly prepared accordance with United Kingdom Generally A¢cepied Ac£ounting PrJctic¢" and have be¢n prepared in accordance with the requiremcnts ofthe Companies Act 2006. Basis for opinio We conducied our audit ID ac¢ordance with Inlemational Stsndards on AjIlLg (UK) (ISAS (UK)} and applicable law. rc5ponsibilities under ihose standards are fither dexribed in the Auditors, reSnSibilitIeS for the audit of the financial siatements seclion of our repon. We are independeni ofthe chaTithble company in accotdamce with the ethical requirements that are relevant io our audit of thc finan¢ial sraicmenis in thc UK. includint the FRCS Ethical sLdard, and we have fulfilled our othet ethical responsibiltiies in &¢cordance with these requirementk We lieve thai the audit evidertce we have obtained is sufficient and approprialc lo provide a b15 for our opinion. Conclusion$ rtlating to going concern ltt auditing the financial statements, we have concluded thai the tees. use of the going concern b&%is of accounting in the preparation of the fancial statements is appropriate. Based on the w(Frk we have perfOrnd. we have not identified any rnaterial uncertainties relating to cvents or conditions that, it]dividually or collectively, may cast significant doubt on the chan.uble company's ability to continu¢ as a going concern for a period of ai least twelve months from when ihe financial ststunents ate authori5ed for i55ue. Our responsibilitie5 and the resw)nsibiliiies of the trnStees with resFtd to going concern are described in the relevant sections of this r¢port. Other informatio The trustees are resp0Tr5ible for ihe other information. The other infornlI0D Cotnprises the ]nforntiOn included in the Annual Report, other than the financial statemen15 and our Report of the IJK1¢Ident Audiiors therwn. Our opinion on ihe financial SL2ternents does not cover the other information and. except lo the extent oihenvise explicitly gtated in our rewrt, we do not express #ny forni of xsgurawe conclusion thereon. In LonneLiion with our audit of the financial slate¢tS, our Yes8lbIlIty is kn rtad the other infoThnalion a1. in doing so, consider whether ihe other infotmation is maieri311y inconsisieni with the flnancial SLiiemenis or our knowledge obthined irt the audit or otherwise appears to k materially mis51aied. If we idenlify such maietial incoThsisier]¢ie$ 01 apparent rnaietial rnis5tstements, we are required to deterniine whether this give5 rise to a matetial missta*menl in ihe financial sthtements themseli'e5. If, based on the work we have perf(Im)ed. we conclude thai Ihere is a material missratemenl of this other inforniation, we are required to report thai fact. We have nothing to ieport in ihis iegaid. OpÉnlon$ on oth¢r matters prescribed by the Companie5 Att 21K16 In our optnion. based on Ihe work undenaken in the course of the audii.. the infomjation given in ihc Report of the Trustee5 for the financial year for which the financial statements are prepared is consistent with the rtnancial statements- and the Rewrt of ihe Twsiees has been prepared in accordance wilh applicable legal requirements. Page 6
Repori olthe Independent Auditors to the Members ol
London Christian School Ltd
Matters which we are required to report by exception
In the hght of the knowledg¢ and Unde18 of the charitabl¢ company and its enviroDTnent obtained in the course of the audit,
we have not identified mat¢rial misstatemcnts in the Rqx)rt of the Trustees.
We have nothing to rewTrrt in res1 of ihe following matters where the Companies Act 21M>6 qUIreS us io report to you if, in our
opinion..
adcquate accounting recor
Report of the Independent Auditors to the Member5 London Christigll Sch1 Ltd Our responsibilities for the audit D(th¢ fJNan£ial statements Our objectives are io obtsin rea50nabl¢ as5Ufdnce about whethcr th¢ f]nancial statements a5 a whole are fr¢¢ from materi misstst¢ment, whether due Lo fraud or error, and to issue a Rep)rt of the Indendent Audilijts that includes our opinion. Reasonable assurance is a high lev¢] of &ssurdDce. but i5 not o gllardntee that an audi¢ Conducted in a¢¢ordance with ISAS (UK) will alwayb detect a mai¢rial mi55tstement when li exists. Mjsstatements can arisc from fraud or ¢TTor and are Considered material if, individually or in the aggt¢gaie, they could reasonably be expected to influence the econotni¢ decisions of users taken on the b15 of the5¢ financial statements. The exient to which our piocedures are capable ofdeteding irtegulariii4 InchIng fraud ts (ktailed below: Id in and re ndin (o risks of material Tnisstatemen( due io fra As required by auditing standards, and tsking Irt account ssIble pressuffs io meei profit rargets aThJ our OV¢Tall kTwled8¢ of the ci)nirol environment. we pcrfom)ed pr{edureS to athlress ihe risks of management ovetride of controls and the risk ol rtaudulent revenue re¢ognition, the risk thai those in charge with tnanagement may be in a kX)siiion ro make inappropriate accounting enthes and the risk ol bias in accounting ¢stiTnaies and judgemenis swh as the valuation of fixed &ssets and financial instwments and depreeiaiion policies. To id¢n¢ify risks of material mi&statemcnt due to fraud {-fraud risks") we a55e5sed events or ¢onditions ihat Could indicao an incenttve 01 pressure to eommit fraud or provi(k an oppotmjniry commii fraud. We communicated identifLoJ fraud risks throughout the audit tearn and remained alert to any llKJirdtions of fraud thToughout the audit Our risk assessment prwedures included.. - EnquirinbF of those charged with management 2nd inspection of kry &8 to the wlicies and procedures lo prevenl and detect fraud. including ihe process for engagin¥ managemeni ideniifv 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 meetings: Revieu'ing intc[tl iisk asse&8menr reports- - Considering management's sncenlives and oP]x)rtlieS for frauduleni manipulation of the financial stat¢ments; A55e55in¥ sigTrifi¢ani accounting ¢silmai( for bi&s- and Auditing the risk of ttlanagemeni ovmide of conlTols. including through testing journal entries and oth¢r adjustments for appropriateness, and cvaluattn8 the business rationale of signbficant trJnsarlions outsid¢ th¢ nortnal CtsUTse of bu5ines5. Identi in and res ndin to nsks of material misstatemcni due io non-com liance with law5 and re lations We considered the eKtenl to whjch non4ompliance might have a maierial effect on Ihe financsal slalements. We also considered those laws and regu12tions that have a direct irnpaci on the finala1 ststemet)rs such as the Companies Act 21M)6 and the Charities Statement of R¢¢ommended Practiee ISORPs} FRS 102. The charitsble cotnpaThy is subjeci to13ws aild regulaiions that direcily affeci the financial ststements including financial reporting legislation and we asso%sed the exteni of compliaThce with these law5 and regulaljons 3s part of our procedures on the relad fjnancial slaietnenls itetns. We commun2caied ideniified laws and regulations throughoul team and remained alert w any Indicatio of non-compliance throughout the audit. Our procedures included.. - Discussion with those in charge with nthnagemenl, 2nd from itwection of the enlty'S regulatory and legal ¢otTrspondcnce. - Discussiot] with those charged wtth management the w)licies and PnedureS reg2rding compliance wirh laws and regulations,. - Reviewing financial statement disclosures and iesting io supponing documentsiion io assess cornpliance with applicable laws and regulations,. and - Enquiry of rnanagemenl, those charged with governance around actual and polential litigation and claims. Page 8
Report of the Independent Auditors to the Membtrs •f London Chrisii#n School Ltd Thcre are illrent limiraiions in the audit pr(KedutES de5cribai above. We are I likely to kcome aware of iiistances of non-compliance wkih laws and regulations that are not closely ielaioj io evellts and transactions reflecteé in the financial stst¢ments. A150, the risk of not d¢tecting a mat¢rial misstatcmcnt due to ftaud is higlKr than lh¢ risk of noi deieciing vne rebuliiTrg from error, a5 fTaud rnay iTrYolve deliberate conceaim¢nt by, for example. foT¥ery 01 inientional rnisiepr¢s¢nthiions. or through collusion. We are not responsible for preventing noThv¢ompliance or a1 cann(M be ex{ w dereci noncompliance with all laws and regulations A further description of our responstbilities for the audit of the fllwlcial sfatements is lo¢ated on the Financial Reporting Council's website ai wwryv.fr¢.org.uklaudittsrsresponstbilitie5. This description fomis pan of oui Report of the Indcpcndent Auditors. Use of our report lis rewirt is rnade solely to the ¢han"table Compan$ meIn[s, as a W, in accordance with Chapter 3 of Part 16 of the Cotnpanies Aci 2006. Our audit work h&s been undertaken so thai we might state lo the charitable company's members those mattels wc are reqllired to .%tatc to rhcm in an audiioTS' ietK)rt and for TH) other purtK)se. To the fullesi exieni pemiilted by law, we do not a¢¢ept or assume responsibility to anyone other ihan the charithble company and the ¢haritsble coVany,5 inembers as a body. for our audit work, for this rew)r¢ or for the opinions we have fornd. Gareih Owen Hugh ¢ FCA (Senior Sta10ry Auditor) for and on b¢half of Garside and Co. LimiiLxI Suite 631, Lilltn Hall Londotl WIB5TG Date.. Page 9
London Christisn School Ltd Staternent of Financial Activities for the Year Fnded 31 August ZOZJ 31.8_22 Total funds Unrestricted fund Notes INCOME AND ENDOWMENTS FROM Donaiions and grants 74.758 66,815 Charitable a¢tivitié$ Proviston of education .366.117 1,287,230 Othcr income 2.864 2,361 Total 1,443.739 1,356,406 EXPENDITURE ON Charitable *ctiTrities Provisjon uf cduca¢ion 1,338,124 1,236,788 NET INCOLIIE 105,615 119,618 RECONCILIATJON OF FUNDS Total ndS biou¥ht forward 148.989 29.371 TOTAL FiJNDS CARRIED FORWARD 254,604 148,989 The notes fom) part of these finalla1 statrments Page 10
London Christian School Ltd (Registered number: 06288947) Balance Sheet 31 August 2023 31.8.23 Unrestricted fid 31.8.22 Total runds Nores FIXED ASSE"rs Tangible assets 24,745 13.912 CURRENT ASSETS Debiors Cdsh ai bank and in hand 12 16.640 773,515 6,914 614,981 790.155 621,895 CREDITORS Amounts falling due within one year 13 {560,296) (486,818) NET CURRENT ASSETS 229,859 135,077 TOTAL ASSETS LE&S CURREP¥T LIABILITIES 254.604 148,989 NET ASSETS 254.604 148,989 FUNDS Unrestricted funds 14 254,6(Jl 148.989 TOTAL FUNDS 254.604 48,989 The finan¢i31 statements weTe approved by the Board of Trustee5 and authorised for issue on shgned on its behalf by.. 29.05 2024 and were C D FiShIk- Tnjstee G K Y Huan8- Ttusl¢e The notes forni part of these fmanciai statements Pagell
London Christi#n School Ltd Cash Flow Statemcnf for the I'e#r Ended 31 AuEllSt 2023 31.8.23 31.8.22 Cash flows from optr*tlng act[tte$ Cash generated froTn opeTatiOllS 173.858 232,269 Net cash provided by operating activiiies 173.858 232.269 Ca$h Ilow$ from investing aetivities Purchase of tangible fixed assets {15,324) {16.803) Net cash used in inv¢5ting activities (15.324) {16.803) Change in cash and eash equlYAlenlS 111 the reportinR period Cash anil cash equivalents at the beginning of Iht reporting period 158.534 215.466 614.981 399,515 C#$h aTrd rash equiva]ents at tbe end of the reporting period 773.515 614.98 The lloies forni t•rt of these financial Matrments Page 12
London Christian School Ltd Notes to the Casb Flow staternet for the Year Ended 31 Augus12023 RECONCILIATION OF NET INCOME TO NET CASH FLOW Tr"KOM OPLRAI"ING ACI'IVI I'IES 31.¥.23 31.8.22 Net iThcome for ihe reportlne perlod (as per the St#temeTrt of Fin•n¢i*l Activities) Adjusimenis for: D¢preciaiion chargcs {In¢reaseVdecrease in debtors Incre in crcdilots 105.615 119,618 4,490 19.726) 73,479 7,750 4.499 100.402 Net cash provided by op¢rations 173.858 232.269 ANALYSIS OF CHANCLS Ir4 NET FufiDS Ai 1.9.22 C¥h flow Ai 31.8.23 Net cash Cash ai bank aTHI in hand 614.981 I S8,534 773,515 614,981 158.534 773,515 Total 614.981 158.534 773.515 The noies fonn part ofthese ststemenls Page 13
Lgndon Christian School Ltd Notes tts the Fingncigl Stgtement5 for the Year Ended 31 August 2023 ACCOUNTING POLICIES Basis of prep9ring Iht financial *tatements The financial staiemenls of the chariiable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charitie5 SORP (FRS 102} 'Ac¢ounting and Reporting by Chariti¢s'. Statement of Rccommended Praciicc applicable ro charitics preparing iheir accounts in accordance wilh the Financial Reponing Standard applicable in Ihe UK and Rcpublic of Ircland IFRS 102) {effcciive l January 2019),. Financial Reporting Stsndard 102 'Th¢ Fitmncial Reporting Standard applicabl¢ in the UK and Republic of Ireland, and the Companies Act 2006. The firtan¢ial 5tatemetJt5 have been prepared under the historical cost CODventio London ChTiSlian S¢h(K)l Ltd meets ihe definblion of a public benefit entity und¢r FRS 102. Assets and liabilitk¢s ar¢ initially recognised at historical cost or trarL4Ction value unless othetwis¢ staled in the Televant OUntIng policy. Thc financial statcments arc prepared in pound sterling {£). which is the fvn¢tionAI ¢urren¢y tsf the charitable Company. Moneiary amounts in th¢s¢ finan¢ial siat¢m¢nts are rounded the neares1 £. L¢g#l $r#iu$ Th¢ ¢h¢iriiy is a company limited by guaraniee. The membets of the company are th¢ tNstees named on pa8e l - Reference and Adm2nistraiivL Details. In the eveni of the chariiablc ¢ompony being wound up. (he liability In re5p¢cI of ihe guaraniee is limited to £1 per member of th¢ chaTitsbl¢ Company. Going con¢crn Thc Iruslees uss¢ss whdh¢r th¢ of th¢ going concem basis ib approptiate. namcly wl?¢th¢r there are any mal¢rial unc¢nainiies rclalcd to ¢v¢ni$ or ¢ondilitsns thai may casi signkficani doubi on ih¢ abiliiy of die charilablc con)pany to continue a5 a going concern for the foreseeabl¢ fvtUTe. The tsustees make this assessment in respect of a period of llt Icost twelve months from the dale of aUthorilon for issue of Ihesc financial staments. Having consider¢d ihc chariiable company's forecasis, projection5. and cash rc5erves. atKI taking inio accouni reas¢)nable tluclualion5 in pupil numbers and expccled demand for iis cducational s¢rvic¢s. th¢ inLsiees consider thai ihe charitable company has adequate resources lo coniiiiue in opentional ¢xist¢iK¢ foT (he foreseeoble fuiure }d there are no mat¢rial uncertainlics aboui the ability to onlinue 3$ a going concern. Accordingly, Ihey coniinue io adopi Ihe g¥oing eoncern basis of 8ccouniing in preparing these financial staiemenis. Crlll¢#l #ecnuntlng Ad#ementS key Jourt¢5 of estlmatlon unccrt¥Jlnty Eslimaies and jud&>emenis are coniinually evaluaied and ar¢ bJs¢d on hisiorical experien¢¢ and other factors. including expeclolion% of futur¢ ¢v¢nt% IhaE b¢li¢vcd To bc Tcasonable under ihe CirCutanc£s. it al acc uni assum tioThs'. Tl)e ¢h4Trril<ihlc COTNpany makcs e.%liniales and assumptions co¢ming the future. The resuliin8 aceountin8 eslimaies and a8sumplions will, by definition, seldom cqual the relaied aciual results. The e5timales and assumptions Ihai have a signifi¢ani risk of causing a maicrial adjustment (o the canying 2mounts of assets aiKI liabili(iu within the next finaiicial year are discussed in ihe accounting policie5 above. Income reeognltion All income rc%aurces are recognised in thc Statement of Finan¢ial Ac¢ivitie5 when the ¢hariiable eompany becomes legally eniiiled lo Ihe tise ol the resOUt5, inflow ot'economic benefit is probable and the moneiary value can be measured with sufficient ieliability. In¢(e from charitable aclivittcs comprises sch] fees which are recognksed on a Stsaight line basis over the academic year {] September to 31 August) io which they relate. Cash donations are recognised on receipt. Other donaiioYLS are reCognij once the charitsble compat]y has been notified of the donation, unle55 perfornia¢ ¢onditioM tequite deferral of the amount. Grants for immediate financial support and assi$tsnc< or to reimburse costs previously Knfurred, rtCO81115cd idIatelY. Page 14 Colllinued...
London Christiath Sehool Ltd r4ote5 to the Fin2ncig1 St&tements- contiDlled for the Year Ended 31 AuEU5t 2023 ACCOVNTING POLICIES- CODtinued Income retogThitio Where donations and grdnts are restricted to firture accounting n0d$, they are defetred and recogkised in those tUre accounting perio(ts. OtheT in¢otne is recognised in the year it is reIVable and io the extent the chan"table company h&s provided the goods or services. All income is measured at the fair value of the Co5derdti0n received or receivable, nel of any rebates or discounts. as applicable. Expenditure recognition Liabilitic.% arc recogni%cd as expenditure &$ soon as there 15 a legal or conslructive obligaÈion committÈng the charity to that expendiwre. it is probable thai a transfer of economic benefits will ix wuired in senlement and the amount of the obligation can be rne&sured reliably. All expendtture is aCCound for on an acc15 ba5]5 and has been cla55ifitd utmlti heading5 that aggregate all cost ¥elaied io the category. Where costs cannot be diredly attribui¢d to particular h¢adings they hav¢ be£n allocakd to activities on a basis consistent with the use of resources. Charithble acliviiios costs are costs incurred on the chan'thle compa5 educational oatiOnS, including support costs and costs lating to the governan¢e of the Chl¢3ble company. All resources expended are inclusive of irrecoverable VAT. Operating le25es Rental charges paid under owating leS are charged to the Statement of Fin1 Aclivities on a straight line b&%is oveT the period of the lease. Tangible fixeil assets Tangible fixed assers are initially measured at costs and subsequently u[e ai cost or valuation. nei of depreciation and any provision for impaimieni. Depreciation is Jr¢ognised so as to off the cosi OT valuation less estimaied residual values of all fixed &ssets over their expecied useful lives. li is ¢ai¢ulaied ai the following raies.. Fixtures. Filtings and Equipm¢Dt Plant and Ma¢hiT I/0 strdight line b&%k5 2(P/v straight linc basts Any 8ain or loss ansing on the diwal of an ¥et is detcrnijned as the difference between the sale proceed5 and the ¢arrying value of the asset. and it is recognised in nei incomel(expendithre} for the year. A review for impairtnent of a fixed a&sei is ¢2rried out if events or clthnges in circumstsnces indicaie that the carrying value of any fixed asset may not be recoverable. Shortfa115 betweert the carry'ing value of fixed asset5 and their recoverable amoullts are recogni5ed as impaim)ents. Irnpajrnnt losses are recogni5ed UL the st8Ment ol"FiDancial Activities. Tax*tion The charitsble company is exempt from coryN)rdiiOTh tax on its charithble activities. Fund #ctountlng Gcncrdl fvnds arc unrestricied fun¢ls which are available for use ai the discretion of the tnLStees in furtherance of the general objectivrs of th¢ Charitable company and which have noi been desig for other puryN)ses. Page 15 conlinued..
London Chri5tin Sehool Ltd r•tes to the Financial Ststejnf Nts- continued for the Year Ended 31 August 2023 ACCOUNTING POLICIES- Contin¢ FiD3ncial instru¢1$ The charitable wmpJY only has finla1 sets and fmancial liabilitie5 of a kind that qualify as basic financial instrumcnr5. Basi¢ financial i9Mien are initially r¢c(IgniKd ai tronsaction value and sub5¢qU¢lltly m¢asur¢d at thcir settlement value. D¢btors TTade and other dcbiors are recognised ai the 5ettleTnent amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trad¢ discounts due. Liabilities LiabTrlilies a recognised when there is an obligation at the Balance sheet date as a result of a past evenL it Is probable that a transfet of economic benefii will be required in seitlemenL a{ the amount of the sertlement can be es¢imaled reliably. Liabilities are recognised ai the amount that the charitable company aniicipaies it will pay lo seltle the de or the amount it has received as advanced payTnenis for the go(Mts or services il musi provEde. Pensions The chariiable cotnpany 0rateS a defined conrribuiion scheme. ContTibutions payable io the charitsble tolnpany's peT15È0n scheme are charged to the StateTnent of Financial Aciiwties ill the petitrj io which they late. DONATIONS AND GIiANTS 31.8.23 31.8.22 Donations and gifts Grants 3,840 70,918 1,297 65.518 74,758 66,815 Grants received. iThclude41 in the ab)ve, are as follows.. 31.8.23 31.8.22 Grants frotn UKCS 70.918 65.518 The support grnnt frorn UK Christian Schijols Ltd IUKCS} is an unrestricted grani which ndOn Christiarj schcl uses pritnarily for building maintenallce Costs and the fimdin8 of one full bursary place. Page 16 continued...
Londoll Christian School Lid Notes to the Financial StstementS- £Ontinyed for the Year Ended 31 August 2023 llYCOME FROM CkL4IUTABLE AcfivITIES 31.8.23 31.8.22 ArtivRty Provision of edL10n Provision of education Fees receivable BuTsaTies l J94,694 128,577) 1,330,892 {43.6621 1,366.117 1,287,230 OTHER INCOME 31.8.23 31.8.22 Miscellaneous income 2,86d 2,361 CHARITABLE AcfiviTIES COSTS Supwrt Costs {see no 61 Direct Costs Totals Provision of educalion .325,658 12,466 1,338,124 SUPPORT COSTS Goyernaiice costs Finance TolS Provision of education 822 11.644 12.466 Support Costs, included Kn the above, are follows= Finance 31.8.23 31.8.22 Provision Toi21 activities education Bank charges 822 1.487 Governance costs 31.8.23 31.8.22 Provision Total activities educalion Audi10. remun¢rdiion Payroll proccssins fc 8,400 3,244 8.4(K) 3,240 11,644 11,640 P¥ge 17 continued..
London Christian School Ltd Not¢s to the Finatteial Statement5- contiDlled for the Ye*r Ended 31 August 2023 NET INCOMEI(EXPENDITURE) Net incomejlexpendiiure) is ststed after ¢h#rg]n¥l(crediling): 31.8.23 31.8.22 Depreciation- owncd &ssets Rental char8es Audiiors. remunerdtion 4,491 141,835 8,41M) 7,750 135,081 8.400 AUDrroRS' REMUNERATION 31.8.23 31.8.22 Fees payable to the charity'5 8uditors foi the audit of the ¢hatity'S finan¢i21 statements 8.4(M) 8,400 TRUSTEES. BEMUTriEIL4TION AND BEf4EFITS Three (2022.. two) of the trustees have paid remuneration or have received other benefiL% for their servic&% as eniployees of London Chrrstian School during ¢h¢ v¢ar ¢nd¢d 31 August 2023 and the year ended 31 August 2022. Thes¢ payments were made under approvLYl contracts of employtnent. Total remunerdtion a[ other benefits. illcludillg employer pellsion contribviions. was as follow: 31.8.23 31.8.22 Trowbridge, N Colkrt-white. N W¢st, M 13.004 74.205 39,317 21,272 69,852 126.526 91,124 Tru5tees' expeDses There were no trle¢s, expenses paid for the yeat ended 31 August 2023 nor for the year ended 31 Augusi 2022. io. STAFF COSTS 31.8.23 31.8.22 Wages and salarie5 Other pension cosls 881.935 33.939 787522 29.262 915.874 816.784 The average monthly numberofemployees during the year was as follows.. 31.8.23 21 TeachEng siaff Adn]inistraiive stsff 23 28 30 Page 18 continued...
LoDdon Christian S¢lwol Ltd Notes to the Fingncigl St&tements- ¢ontiMkntd for the Year Ended 31 August 2023 STAFF cosrs- continued The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,OtK) was.. 31.8.23 31.8.22 £60.001- £70, eTnent rsonnel Th¢ total amount of employee benefits. including employer pension Contributio, received by key management Fersonnel for their Services to the charitable company during the yr end¢d 31 August 2023 w&s £126.526 {2022.. £91.1241. TANGIBLE FIXED A&sErs Fixtures Compuier equipinent fittings Totals COST At I Seplemirr 2022 Additions 45.320 14.652 69.753 672 115.07.3 15,324 At 31 August 2023 59.972 70.425 130,397 DEPRECIATION At I Septetnber 2022 Charg¢ lor y¢ar 41,091 1.936 60.070 2.555 4.491 At 31 August 2023 43.027 62.625 105,652 Nrf BOOK VALUE At 31 August 2023 16,945 7,800 24,745 At 31 August 2022 4,229 9.683 13,912 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.23 31.8.22 TTade debtots Prepayments 10.862 5.778 749 6.165 16,640 6,914 Page 19 continued...
London Christian Sthool Ltd ot¢5 to the Fin4n¢ixl StatemeDt5- coMtinued for the l'ear Ethdtd 31 August 2023 13. CREDITORS: AMouKfs FALLING DUE WITHIN of4E YEAR 31.8.23 31.8.22 Trddc credÈtOf5 SoLial security and other taxe5 Dep05lt held Fees in advan¢e Pension payable Accruals and d¢ferred illCtsllLe 37,778 17.386 265,490 225,8 6.057 7,677 39,530 16.907 213,080 195203 4,663 17,435 560296 486,818 14. MOVEMENT IN FUNDS Net movement in At 31.8.23 At 1.9_22 Unrestricted funds General fund 148.989 105.615 254,604 TOTAL FUNDS 148,989 105.615 254.604 Net movemcnt in fimds, in¢lud¢d in the kbove 2Fe 3$ follows: Incoming resourc Resources expended Movernenl in ndS Unrestricted funds General fund 1.443.739 (1,338,124) 105.615 TOTAL FUNDS 1,443,739 {1338.1241 105,615 Comparative5 for mowemeDt ijh funds Net rnovement in funds At 31.8.22 At 1.9.21 Uiirestricted fuThd$ General fund 29.371 119,618 148,989 TOTAL fi(NDS 29,371 119,618 148,989 Page 20 ¢ontinued..-
London Christian School Ltd Note$ to the Finaneial Statement5- coB¢inued for the Yegr Ended 31 August 2023 14. MOVEMENT IN FUNDS- continmed Comparative net movemeni in fUts. Inclu in the above are a5 follows.. Incoming iesources Resources expend¢d Movement in ndS Unrestricted fund5 General tund 1.356.41kfj 11.236,788) 119,618 TOTAL FUNDS 1,356,4( (1.236.788) 119,618 A current year 12 month5 and prior year 12 months combined position is follows.. Net moi'ement in funds At 31.8.23 Ai 19.21 Unresirl¢ied funds General fund 29.371 225233 254,604 TOTAL FUNDS 29.371 225233 254.604 A current y¢ar 12 months atKi prioryear 12 months combincd n¢t mov¢m¢nt in funds, in¢lud¢d in the abov¢ ar¢ as follows.. Incoming resoui¢es Resources expended Movement in funds Unrestricted fllDds General fund L8(X).145 12,574,912) 225,233 TOTAL FUNDS I8,145 (2.574.912) 225.233 15. RELATED PARTY DISCLOSURES The following bustees were also tswiees of UK Christian Schools Lid during the year ended 31 August 2023,. this charity owns the school building and PToTrides financial support for the s¢l]ool.. Revd C Fishlock S Wilde IresÈgned 20.11.23) tring th¢ year e]ed 31 August 2023, London Thristian S¢hool tAd made payments lotalling £141,835 (2022.. £135,081} ¢0 UK Christian Sthools Ltd for the rentsl of40 Tabard Street. London SE14JU. Three (2022. two) close family memkrs of the trLLStees received remuneration atml other benefits, including employer pension ¢L)ntributions, of E40.093 (2022: £22.043} for theii wort wf¢)mied iowards the ¢hari(able company's obJeLiives. These payments were llhade undtE approved contracts of enJployrnenL Where applicable. staff and sil>ling discounts were made available dun.ng the year under review. PaEe21
London Chri$tian School Ltd Detailed.StAtement of Fiffixnci*l Activities for the Veir Ended 31 August 2023 31_8.23 INCOME AND ENDOWMENTS Donations and grallls Donaiion5 and gifts fjrants 3,840 70.918 1,297 65,518 74,758 66,815 Charitable •ctivities Fces receivable Bursaries 1.394.694 (28.5771 1.330.892 (43.662) 1.366,117 1.287,230 Other income Miscellaneous iucome 2.864 2,361 Total intoming resources 1,443,739 1,356,406 EXPENDITURE Charitable actItieS Wages incl s1&1 security Pensions Raieg Insurance Utilities ¢osts Telephone Printing, postage and stsiionery Advertising cos Sundry expenses Hire of premises Membership fees Classrooin reSOUTces attd books Tr2Ining tourses Repairs and Eenewa]s Professional fees Computer 2nd IT expenses Clcaning Renial Charges Bad debts written off Extracurricular activiiies Other staff costs Contract staff Dcprcciation- Fixtures & fittings Carried fotivard 881,935 33,939 11,798 6.885 9.567 8.343 12,281 10,379 12,22S 13,474 10,467 22,060 11,041 14,458 J.148 17,486 16,983 141.835 4.959 11,796 3,544 62.565 1.935 1,323,103 787,522 29,262 9,416 5,346 11,080 8,701 11,496 1,284 1,264 14,306 13,518 15,383 11.546 56,659 10,899 13.275 16,790 135,081 9,949 5,493 47,641 2,179 1.218,090 Th"Is page does noi fom) part ofthe stAttttory financial statements Page 22
Londoll ChristiaTh Sebool Lid Detailed Statement of FIancial ActiTrities fnr the Year Ended 31 Augllsi 2fr23 31.8.23 31.8.22 Charitabl¢ aCtitieS Bivu¥hi lorwatd Depreciation- Compuier equipment 1.323,103 2.555 12IS.090 5,571 1.325,658 1,223,661 Support C05t$ Finance Bank ¢h2rges 822 1.487 GovernAThce costs Audiiors, remunerdtion Payroll proc¢5sing f¢¢5 8.400 3,244 8.40 3240 11,644 11,&io Totsl resources expended 1,338.124 1,236,788 Net I¢0¢ 105,615 119,618 This page does not form part of the stawiory flljancial siatements Page 23