REGISTERED COMPANY NUMBER: 00288947 (England and Wales) REGISTERED CHARITY NUMBER: 1133692 Report of the Trustees and Audited FlnAneial Statements for the Year Ended 31 August 2024 for Lolldon Chrl8tl*n S¢hool Ltd 1A-Cumpw'Llmlted by Guarantee) Garside alld Co. Lirnited Cl]&ttered Accountallt & Statutory Auditor Suite 631, Linen Hall 162_168 Regent Street Lolldoa WIB 5TG
London Chrlsilall S¢hool Léd Conten1$ of the Financial Statements for the Year Ended 31 August 2024 Page Reference 4nd Admllltstrative Details Report of the Trustees Report of the Independent Audltors Statement of Fin4nclal Aetlvltles Balance Sheet io Cash Flow Statement Notes to the Cash Flow Statement 12 Notes ¢0 the Finréncial Statements 13 to 22 Det#iled Statement of Fitte1%1 Activitles 23 to 24
Londoll Chr1511an Scbool Ltd Referen¢¢ and Administrative Details for the Year Ended 31 August 2024 TRUSTEES C D Fishlook S Wilde (resigned 20.11.2023) J AmTnou T Jolles (r¢sigD¢d 2.10.2023) N Collett-white C J Hoar¢ A J Mccallister TCWWright MIWest G K Y Huimg (appointcd 20.1 I.2023) M J Burd¢n (appointed 20.11.2023) J D C Monro {appointed 18.3.2024) COMPANY SECRETARY C E Ellse RKGISTERED OFFICE 40 Tabard Street London SEI 4JU REGISTERED COMPANY NUMBER 06288947 {England and Woles) RKGISTERED CHARITY f4UMBERI133692 SENIOR STATUTORY AUDITOR Gareih Owen Hughes Bsc ACA AUDrroRS Garside and Co. LAmited Chartered Accountant & Statutory Auditor Suite 631, Linen Hall 162-168 Rcgent Street London WIB 5TG SOLICITORS Moore Barlow LLP Gateway Housc Tollgate Chandlevs t4ord Eastleigh, HampshiT¢ S053 3TG BANKERS Reliance Bank Faith House 23_24 Lovat Lane tA)ndoll EC3R SBB Page I
London Chrlstlan Sehool Ltd Report of the Trnstees for the Year Ended 31 August 2024 The trustcs who are also d1ctorS of the charity for the purposes of the Companies Act 2006, pre8¢nt their r¢port with th¢ finallcial statemettts of the chaiity for tbe year ended 31 August 2024. Th¢ truste¢s have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommen(kd Practice applicable to charities preparing their accounts in accordan¢c with the Financial Rtrporting Standard applicable in the UK and Repub]i¢ of Ir¢lalld (FRS 102) (effective I January 2019). OBJECTIVES AND ACTIVITIES Objective5 aims London Cl)I'i8tiatL School IAd register¢d a charity (Charity Number.. 1133692) in January 2010. The c12aritable company was established to provide excellent Christian education for the children of Londo Publlc benefit The trustees have considered the Clwtty Commission's guidance on public benefit and. in particular. the specific 8uidattee in relation to charities for the advancement of educatio and are satisfied that the activitieg of London Christian School Ltd fall withiD that guidance, iticlllding the provision of bursaries to cover hardship. ACHIEVEMENT AND PERFORMANCE Chy4ritable activities London Christian School WAS established in 2007 with the aim of providing an excellent Christian education for children in central London. In September 2009, tl)¢ school rn0d into permanen¢ premises on Tabard Street in Borough and w¢ continu¢ to b¢n¢fit from th¢ $pa¢iousJ Putpo4¢s1gn¢d and 11-maIntaIned building. We have been able to provid¢ very high qiiality ethication at a fee level below the rnajority of ittdependent schi)o]s in London. Cbildren from all backgrounds attend the scbool, with the majority living within a two mile rddius of the school. During the 2023-24 year, we provided bursaries for eleven children, ranging from IOO/o - 100 /0 reduction of fee8. We welcomed an ldItiOnal eighteen children into Early ReceplioLI and Reception An September 2023. We have seen the children tljriving academically. and showing healthy social and emotional progress. We have continued to benefit from our memb¢rship of thc Ind¢pend¢nt S¢hools Association. FINANCIAL REVIKW Financial position The Fitiancial StatemeLtts cov¢r all the activities of the charitsble company and have be¢n prepared on an accrual basis. Our ¢otal irJGomiJLg r¢sourc¢6 r¢ £1,512,052 (2023: £1,+13,739), d¢rId mainly acknool fccs, grant illcotnr and small donations received during the y¢ar. Thig year saw an increase in income from our charitable activities in the form of school fees, the number of pupils increased. We also continued to receive a healthy amount of income from After School Clubs and extra-curricular a¥livities. We received a 8UPPOrt grant from UK Christian School5 Ltd of £82,440 (2023: £70.918) to be used primarily for building rnaintnance costs and the funding of one full bursary place. EKpendithre on charitable activities amounted to £1.501.509 (2023.. £1.338.124) including Support costs of £12.738 (2023: £12,466). For the year ended 31 August 2024 the charitable company retuttt¢d a net surplus of £10,543 (2023:£105,615). Thc twstees are satisfied with the financial position of tho charitable company and confirm that th¢y have adequace assets available to fulfil their obligationg. Page 2
London Christlan School Ltd Report Df the Trustees for the Year Ended 31 August 2024 FINANCIAL REVIEW Reserves pollcy The trustees long term aim is to establi8h reserves at a level which equates to approximately three months of unr¢stri¢ted charitable expenditure. The trustees consider this to be a prudent approacll to provide 8ufficiellt funds ¢0 respond to the nTrIng of the school and ensurc that th¢ support and governance costs arc GovCd. The balanc¢ for unr&stricted funds at 31 August 2024 was £265,147 (2023: £254,604). Going coneer The trustees consider th¢r¢ material uncertainties aiJ)ut the charilable companls ability to continuc a going onrn. The Teview of the financial wsition, r¢8Grve l¢vcls and future plans gives tNstees confidence the charitablc company remains a goiiig conG¢m for the foreseeable future. Further d¢tails regarding the adoption of th¢ going ¢onc¢rn basis can be found in the Notes to the Financial Stateinettts - Accounting Policies. YUTURE PLANS September 2023 brollgh¢ the start of our sixteefttli year at London Christian SchiM)l. The building at 40 Tabard Stwt continue8 to mcct our needs for d]¢ short tenn, but we are excited at the opportunities presented by the re¢¢nt acquisitiort by UK Cbristian Schools Ltd of the next door building at 30_32 Tabard Street. The SVDllneT of 2024 saw ienovation work in the basement aDd ground floor of 30 Tabard Stree¢ joiliitig It to our existing school building with a view to providing additional hall space and a kitchen ready to offer hot lunches from Sepmber 2024. We hope to continue to eXpd our use of 30 Tabard StrKt to ¢nhauce the school fllitt¢S. The children are spr¢ad over eight a¢ad¢mic years, from Early Reception to Year 6, with a one•fomi entry vnodel. We began the academic year with 120 children. We gained and 105t sorne children throughout the year and ended in JUEY 2024 with 118 children. The majority of leavers were primarily due to relocation nationally und internationally. Our Year 6 leavers moved on to secondary schools at the end of the year. We were delighted wi¢h their I l+ results, and they acccpted cornpetilive places, including some scholarship awjrds (indicated by ), at Alleyn's School {2), Blackheath High (l ), City of tA>ndon Girls (l). Colfe's (l ). Eaton Squar¢ Senior (l ), Eltham College {2), Emanucl School (l *), Fiancis Holland Regents Park (l), JAGS {1), SL Cecilia's Churcb of England Scllool (l) and Thamcs Christiarl Sch(K)1 (3). We were thankful for the provision of so many excellent teachers, teaching assistants and staff. Miss li. icola Collett-wliite continued as Headliiistress. She was assisted by nine full time and tbree part tijnc teacheT5. one traiuin8 t¢ach¢r, four 11 time and one part time teacliing assistanL We continued to brÉng in the services of other external gpecialist teachers such os Mandarin, LAtin. chess, fencing, ballet and inslnunental. This l¢v¢l of staffmg ¢nabl¢s us to m&intaiu our cxGollcut Staff to student rntio, as well as providing a w¢lcom¢ internal buffer of cover for staff training or si¢kne$s. We continue to r¢ceive enquiries from pr08pective parents and have a very good Teputation in the local area. Our m08t effective m¢an8 of advertiSiDg has bccll word_of4nouth with satisfied parents £uth children prouLoting the s¢bool. We continue to be well_subscribed for the younger years in the sohool. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing duMent The charity is a company limited by guaraute¢, as defined by the Companies Act 2006, and is governed by its M¢morandum and Ar¢icles of Association. Charity Constitution London Christian S¢hool Ltd is a company IiTllited by guarantee and a registered Chlty. Registered cotllpally number 06288947 (England and Wales) Registered charity number 1133692 Page 3
London Christlan School Ltd Report of the Tru$tees for the Year Ended JI August 2024 STRUCTURE, GOVERNANCE Af4D MANAGEMENT Recruitment And appointment of new trustees The Board has the power at any time to appoint, by ordinary resolution agreed by a simpl¢ majority, any person or organisation who is willing to be a Board member, either to fill a casual vacancy or as an addition to the existing members. Membership is open to other individuals or organisations who: - apply to L&)ndon Christian School in the fortn required by the Board, - are approved by the Board, and testify in writing their unqualified adberence to the Doctrinal Statement as set out previously the metnoratLdum of association. The number of tntee8 8hall be not le&s than three but, unless othcrwi8e detetynined by ordinary resolution, Shall not be subject to any vnaximum. lllduction and tralnlng of neiv trustees The tntse5 kccp themselves up to date with charity law and regulations pertaiDing to the edllcational sector, so that they can bring an infomied eye to their work. The trustees ensure that the company benefits from high-qu&lity investment al legal advACe. Organlsattonal structure The tnTSte¢s. who are al80 the directQTS for the purpose of comp8ny law, and who served (luring thc year were.. C D Fishlock S Wilde (resi8ned 20.11.2023) I. Jones (resigned 2.10.2023) N Collett-white C J Hoarc A J Mccailister TCWWright MIWest G K Y Huang (appoirAted 20.11.2023) M J Burden (appointed 20.11.2023) J D C Monm (appointed 18.3.2024) The Board ¢unsists of current and past parcnts. staff mcmbct8 and cxtcrnal indivtduals, all with a passion for seekillg to develop our school. They meet each half term lo discuss the school action plan and to Tnonitor s#feguardin& finances and iJDplcmcntation of poiiri¢8. Our trLk8tees are keen to involved in school liffe thTougb visits, assemblies and events. Risk management The trust¢¢$ have a duty to identify and review the risks to whi¢h the charitable compaiiy is exposed and to csUre appropriatc ¢ontrols are in place to provide reasonable assurCe against fraud and error. IF]ternal system5 and procedures are in place tt) ¢ontrol all fiiiancial transactions and ensure the charitable company's activities comply with all appli¢able regulations. Related parties Details of related parttes, where th¢ trustse8 have responstbility for oth¢r C7t1eS wkLich hav¢ dealings with tK)ndon Christian School Ltd, are sel out in the notes to the accounls, where applicable. TRUSTEESI RESPOF4SIBILITY STATEMEwr The Inte¢S (who are also the directors of tA>ndon Christian School Ltd for the purposes of company law) are responsible for ptepaiing the Report of the Trustees and the financial statements in accoTdauce with applicable law and United Kingdom Ac¢ounling Standard8 (United Kingdom Generally Accepted A¢counling Practice). Page 4
London Chrlstlan School Ltd Report ol the Trustees for the Year Ended 31 August 2024 TRUSTEES, RESPONSIBILITY STATEMENT - eolltinued Company law requires the tNslees to preparc financial statements for each financial year whicb gil'e a true and fair view of the slate of affairs OF the charitable company and of the incoming resources and applicalion of resources, including the income and expenditure, of the charitable company for that period. In preparing those fmancial statements, the tsustees are required to select suitable aOuntIng policies and then apply them con5iSt¢nily' observe th¢ mctbods and principles in Ihc Charity SORP. make judgements and estimates that are reasonable and prudent,. prepare the financial itateriienls on the going concern basis unless it is inappropriate to presume that the charitable company iNill continue in busines5. Th¢ trnstees are responsible for keeping pi'oper accountitsg record5 which disclose reasonable accuracy ai any time the financial position of the charitable company and to enable them to ensure that the financial slalemenls comply with the Companies Act ?006. They are also responsible for safeguarding the assets of tbe charitable company and hence for taking reasonable steps for the preveniion and deteccion of fraud and other irregularities. In so far as the trustees are aware: there is no relei'anl audit tnfoirnation of whicli the charitsble company's auditors are unaware- and the trustees have taken all iteps that they ou(Flit 10 have taken to nuke themselves aware of any relevant audit ufforniation alld to establish thal the auditors are aw'are of that information. AUDITORS The auditorb, Garside & Co. LitDited, 111 be proposed for re-appointment at the fortbcomints Annual Gelleral Meeting. .T.hts rtport has been prepared in accordanc¢ ivith the special provisions.of P.art 15 of the C.ompani¢s .4¢t 2006 relating to 5tnall cotnpanics. Z13}. Approved by order of the board of trustees ou ... ...... and signed OTr ils behalf by.. ee Page 5
Report of the Independent Audltors to the Members of London Chrfrstlsn Sehool Ltd Opinion We have audited the financial statements of London Christian School Lid (the 'charitable cornpanl) for the year ended 31 August 2024 which con)prise the Statetncnt of Financial Activities, the Balance Sheel the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial rcporting framework that has been appli¢d in their preparation is applicable law and United Kingdom Accounting Standd$ IUntt¢d Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give A true and fair view of tbe state of the eharitsble compangs affairs as at 31 Augiist 2024 aiid of its incoujiug resources and applic&tioll of resourL'es, including its incorne and expenditure, for the year then ended. have been properly PTq)ared in accordallce 1th United Kingdom Generally Accepted AcGountillg Pra¢ttce" atLd have been prepared in accordance with the requirements of the Companies A¢t 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing WK) (ISAS (UK)) and applicable law. Our responsibilities under those stalldards are further describ in tb¢ Auditors, responsibilities for the audit of the fit)an¢ial statemetlts section of oui report. We are independent of the chaTitsble company in accordance witb tbe ethical rcquirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have lfilled our Otr ethical responsibilities tn accordance with tbes¢ r¢quirem¢nts. We believe that tbe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating ¢0 going wnccrn En auditing tbe f1[wla1 staternents, we have collcluded that the ttee$, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have pOTm¢d, we have not ideiitified any material uncertainlies relating to evenl8 or conditions thaL individually or collectively. may cast significant dollbl on the charitable compangs ability to continue as a going concern for p¢riod of at least twelve month8 from wheii the financial statements are authoris¢d for issue. Our responsibilities and the Tespon8ibilities of the tru8t¢es with respect to going con¢¢rn are described io the relevant sections of tbis report. Other information The trustees are responsible for the other information. The other infoTm&tion comprises the infonnation includ¢d ill the Annual Report, other than tiie financial statements and our Report of tlie Independent Auditors thereon. Our opinion oll the financial statements does not cover th¢ oth¢r infokinatiott and, except to the extent otherwise explieidy stated in oui report. we do not express any forni of Assurance conclusion thereon. In connection with our alldit of the financial slalements, our responsibility 18 to read the other information an( in doing 80, oDsider whether Éhe other information is Lnaterially inconsistent with the financial statement8 or our knowledge obtained in the audit or otherwise appellrs to bc materially misstated. Lf we identify Such malerial in¢onsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial slalements themselves. If, based on the work we have performe( we conclude that there is a material misstatement of thi8 other InfomlI0 we are required to report that fftct. W¢ bave llothing to rq)ort in this rcgard. Oplnions on other matters prescribed by the Comp&nies Act 2006 tn our opinion, based on the Work undertaken in the course of the audit: the infornia¢ion given in the Repoit of the Trustees for the financial year for which the financial statements are prepared is otLSiStent with the fjnancial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 6
Report of the Independent Auditors to the Members of London Christlan School Ltd Our re8ponsibilRties for the audlt of the flnancial statements Our objectives arc to obtain reasonable assur8nce about whether the fJnanciaL statements as a whole are free from material misstatement, wheth¢r du¢ to fraud or error, and to issue a Report of ¢he Ind¢pend¢nt Auditors that includes our opirtion. Roasonablc assurancc is a high level of assurance, but is not a guarantee that an audit conducted in accordallce with ISA$ (UK) will always detect a n)aterial rnisslal¢menl when il exists. Misstatements can arise from fraud or eTror and arc considered material if, individually or in the aggregate, tbey could reasonably be expected to influence the ¢conon)ic decisions of users taken on the basis of these finaii¢iAI statenEnts. The extent to which our procedures e capable of detecting iTh¢gularitLeS, including fraud is detailed below: The charitable company is subject to laws and regulations that directty afftct the fmancial statements including finaucial reportiftg legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statements item8. We ¢ommutti¢ated id¢ntified laws and regulations tbroughout our team and remained ert to any indications of non-conipliance throughout the audit. Our procedures included: - Discussion with those in Chge with management, and from in8P¢Ctiou of the entity's regulatory and Icgal correspondence. Disa810 with those charged with ngement the .poli¢ies and procedures regarding compliance wlth laws and regulations" Reviewing fillaDcial statement disclosur and testing to sUPPOrting documentstion to IlSs¢5s compliance with applicable laws and regulations. and - Enquiry of managemenL those charged with goverThance aroutld actual atLd potential litigation and claims. There ar¢ inhcrcnt limitations in the audit procedures dcscribcd abov¢. We aTe less likely to become awar¢ of instances of non-compliance with laws and regulations that are not closely related to events ]d ÉTansaction8 refleoted in the fiiiancial statements. Also. the risk of not detecting a material misstatetnent due to fraud is highu than the risk of not detecting one resulting from error, as fraud may illvolve delibeTate concealtllent by. for exwle, forgei'y or intentiond TlliSTepresentalions. or throu collusion. We are not responsible Foi. prevcnting tton-compliance or fraud and cannot be expected to detect noncotL]pliance wsth all laws and r¢gulatlOll8 A fLuther description of our responsibilitics for the audit of the tinancial 8tatements is located on the Financial Reporting Council's website at www.frG.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the eharitable companys members, as a body, in ac¢ordanoe with Chapter 3 of Part 16 of the Companies Act 2006. Ow. audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not aecept or assume responsibility to anyone other than the charitable company and the charitable compan6 mcmber8 as a body, for our audit work, for this report, OT eor the opiniolls we hav¢ fonned. Gareth c ACA (Senior Statutory Auditor) for and on behalf of Garside and Co. LiTllited Suite 631, Linen Hall LA)ndon WIB STG Pag¢ 8
Report of the Independent Audltors to the Members of London Chrlstlan Sehool Ltd Matters on which w¢ are required to report by exceptlon the light of the knowledge and wAderstanding of the charitable comp&ny and its ¢nvir()runent obtained in the course of the audit, we have not identified material misstat¢m¢nt8 in th¢ Report of the Trustccs. W¢ have nothing to report iii respect of the followiftg mattcrs Tthere the Cornpanies Act 2006 requiTes us to report to you if, n our opillion- adequate accounting recor(L8 have not been kept OT returns adequate for OUT aiidii have not been received from branches not visited by us. or the fuwi¢ial Statements not itt agreement witb the accounting r¢wrds and TelTs. or certain disclosures of trLiStees' Tenllmeration specified by law are not made. or we have not received all the infornution and explanations we require for our audit. OT the trustees were not entitled to take advantage of the Small companies exemption frotn the requirement to prepare a Sts'ategic Report or iu preparing the Report oftho Trustces. R¢sponsibilitles of trustees As explained more llY in the Trnstee5' Responsibilities Statement, the ttustees (wbo are a]so the directors of the charitable company for the purposes of company law) are rttgponsiblc for the preparation of the "financial statements and for being satisfied that they give a and fair view, and for such internal lltrol as the trtee$ dctermine is ncce&8ary to enable the preparation of financial statements that are free from material misslalemenl whether du¢ to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable oompany's ability to ¢ontinue as a going concem, disclosing, as appltcable, matters rel&ted to going ¢QD¢ern and using the going conccrn basis of accounting unless thc tn]stccs cither intcnd to liquidate the clwitable company or Éo ce8s¥ operations. or have no realistic tllternative but to do so. Page 7
IKJndon ChrA5tian School Ltd Statement of Fln*n¢lal Activities for th¢ Yegr Ended 31 August 2024 31.8.24 31.8.23 Total funds UnrestriGted fund Notes INCOME AND ENDOWMENTS FROM Donations aud grants 88,170 74,758 Charltable actfvldes Provision of education 1,421.625 1.366,117 Oth¢r incom¢ 2,257 2,864 Total 1,512,052 1,443,739 EXPENDITURE ON Charlltable aetivitRe8 Provision of edu¢ation 1,501,509 1,338,124 NET INCOIVIE 10,543 105.615 RECONCILIATION OF VUThDS Total fvnds brougbt forwArd 254,604 148.989 TOTAL FUNDS CARRIED FORWARD 265.147 254,604 The notes form parc of these financial statements Page 9
London Chri5tlan School Ltd (Reglstered number: 06288947) Balance Sheet 31 August 2024 31.8.24 31.8.23 Total funds Unrestricted fund Notes FIXED ASSETS Tangible a55Cts 30,501 24,745 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 508 10,565 1,313.991 16.640 773.515 1.325,064 790,155 CREDrroRS Amounts falling dLie within on¢ year 14 (1.090,418) (560,296) NET CURRENT ASSETS 234,646 229,859 TOTAL ASSETS LESS CURRENT LL4BILITIES 265,147 254,604 NET ASSETS 265.147 254,604 Uiircstri¢ted fund5 265,147 254,604 TOTAL FUNDS 265,147 254,604 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behaifby.. rustee G K Y Huang- Truscee The noies form pari ofihese financial slaiemenis Page 10
Londoll ChrfisttAn School Ltd Cgsh Flow StY4tement for the Year Ended 31 August 2024 31.8.24 31.8.23 Notes Cash floivs from operating *ctivities Cash generated from op¢ra¢ions 552,818 173,858 Net cash provided by operating activities 552,818 173,858 Cftsh 1105 from investing a¢tiYilies Purcb&8e of taogible fixed asset8 (12,342) (15.324) Net cash used in investing activities (12,342) (15,324) Challge In cash and eAsh equivalents in the repDrting period Cash and cash equivalellts at the beginning ol the reportlng perlod 540.476 L58,534 773,5 l5 614,981 C8sh and cash equlvalents at the end of the reporting period 1,313,991 773,515 Th¢ notes forni part of t156 financial statem6nts Page 11
London Christian S¢hool Ltd Not( to tbe Cash Flow Statement for the Year Ended 31 August 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPEIUTING AcrivrriES 31.fl.24 31.8.23 Net Income for the reportillg perlod (as per the Statement of Financial Aetiwities) Adjustments for: Depreciation charges Increase in Stocks Decrease/(increasc) in debtor8 IncreBse in creditors 10,543 105.615 6,587 (509) 6.075 530,122 4.490 (9.726) 73,479 Net eash provided by oper#tions 552,818 173.858 ANALYSIS OF CHANGES IN NET FUNDS At 1.9.23 Cash flow At 31.8.24 Net cash Cash at bank and in hand 773,515 540,476 .313.991 773,515 540,476 ,313,991 Total 773,515 540,476 1,313,991 The notes fonn part of th¢ financial stat¢ments P&g¢ 12
London Chrl$tlan School Ltd Notes to the Fillanclftl Statements for the Year Ended 31 August 2024 ACCOUNTING POLICIES Basis of preparing the financlal stAtements The financial statements of th¢ Gharitable mpany* which 18 a public benefit eiitity under FRS 102, have beai prepared in accordance with the CILarities SORP (FRS 102) 'Accounting and Reporting by Clwities: Statement of Re¢ommcnd¢d Pr8Ctic¢ applicable to charities preparing their accounts in a¢cordanc¢ with the Financial Reporting Standard applicable in the UK alld Republic of Ireland IFRS 102) (eff¢Gtivt l January 2019),, Financial Reporting Standard 102 'Thc Financial Reporting Standard applicable in the UK and Republic of Ireland, and thc Companies Act 2006. The financial 8tstements have been preped under the historical cost convention. London Chri8tien School Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at hi8torical cost or transaction value unless othenvise staled the relevant accountiThg policy. The financial statements are prepared in pound sterling (£). Mthich is the nctIOnal currency of the charitable company. Moiietary amounts in these financial statemeiits are rounded lo the nearest £. Legal stalus The chai'ity is a company limited by guarantee. The members of the company are th¢ tNs¢ees named on pa8¢ 1 Reference and AdmillLStrative Dctai18. In the event of the ¢h8fAtable company being wound up, the liability itl respect of the guarantee is limited to £1 per member of the Gharitablc ci>mpally. Golng conc¢rn The tru5kcs ass svh¢iher the use of the con¢ern basis ts appropriate, namely whether there are any material un¢ertaXllties r¢l8t¢d lo eveots or conditions that may cast significallt doubt on th¢ ability of the Charitable company to continue as a going concern for the foreseeable future. The trnstees make this as8essment in respect of a period of at least twelve months from the dafr of authorisation for issue of these financial statements. Having considered the hari¢&bl¢ compan$ foi'eca$ts. projections. and cash reserves, and taking into account reasonable tluctuations in pupil numbers and expected denthlld for its educational servi¢¢s, th¢ trustees consider that Ibe charit&bl¢ company has adequate resources to continue in operational existence for the foreseeable fut and there are no material uncertailltie$ about the ability to continLte as & going con¢enL A¢cordinglyJ they continue to adopt the going concern basis of &crouuting in preparing these finallcial Statements. Crltlcal accountlng judgements and key sources of ¢stlmAtlon uncertalnty Estim&tes and judgements are continually evaluated and &re based on historical experience &nd other factors. inoluding expectations of t.¢ ¢vents that are believed to be reasonable uttder the Gircumstattces. Ciitical accounti estirnates and assuvn tions: The charitable company makes estimate5 and a&sumptioiis concerning the ture. The resultitlg accounting estimate5 aDd a55Utnptions will, by definitiL)n, bcldom equal the rclated actual rcsuIt5. Th¢ ¢5titnal¥s and ISu[npL1Oll5 that hav¢ a 8ignificant risk of causing a Mala1 adjustmen¢ to the carrying anwunts of assets and liabilities within thc next financial y¢ar are dtscussed LEI the accountlttg polLCLes abov¢. Income recognition All income resottrces are recognised in the Statelljent of Financial Activities when the charitsble company becomes legally entitled to the use of the resources, an inflow of eeortomic benefit is probable and th¢ mon¢lary Value can be llLea8ured with sufficient reliability. Income fro c]witsble activities compris¢8 school fees which are recognis¢d on a straight line basL8 oveT the academi¢ year (I September to 31 August) to which they r¢lat¢. Cash donations are recognised on receipt. Other donation8 are reglS¢d once the charitable company has been notified of the donation. uJd¢ss performanc¢ conditions require defeTTal of the ainoullt. Page 13 contittued...
London Chrl8ttan School Ltd Note8 to the Pinan¢i*l StAternents- continued for the Y¢¥r Ended 31 August 2024 ACCOUNTING POLICIES- ¢ondnued Income recognition Grants for immediate fiiiancial support and assistance, or to 1rnburse costs previously in¢urr¢d, ar¢ r¢¢ognised immediately. Wh¢re donations and grants are restricted to future accounting periods, they ¢ deferred and recognised in those futurc accounting periods. Other iTLcome is recOlSed in the year il is recetvable and to the extent the charitable company has provided the goods or services. All income is measured at the fair value of the consideration received or receivable, net of any rebates or discounts, as applicable. Expendlture recognltlon Liabilities 8re recognised a8 expenditure as soon as there is a l¢gal or constsuctiv¢ obligation couunktting the charity to that expendithre, it is probable that a transfer of economic benefit8 will be required in setilement and the amount of tbe obligation can be m&qsured reLiably. A]1 exp¢nditur¢ is COunted for on au accruals basis aDd has been classificd under headiugs that aggr¢gatr all cost relat¢d the catcgory. Wh¢r¢ ¢osis cannot be directly attributed to particular headings they have been allocated to activities on a b18 consistent with the use of resour$. Charitable activities c08ts are costs inourred on the charitable cornpany's educational operations. iucluding support osts alld costs relating to the governanc¢ of the Charitable company. All resources expended ar¢ inclusive of ir0verabLe VAT. Operatlng lease8 Rental charges paid ullder operating leases are charged to the Statement of Financial Activities on a stratght line basis over Ih¢ period of the lease. Tanglble fixed assets Tangible fixed assets are initially measured at CO8t8 and subsequently tneasured at ¢ost or valuation, net of depreci8tion and any provision for impairment. Depreciation is recognised so as to write off the cost or valuation less egiimated residual values of all fed assets over their expected useful lives. It is caleulatrd at the following raks: Fixtures, Fittings and Equipment Plant and Machinery IOO/o straight tine basis 200/0 straight line ba5SS Any gain or loss arising on the disposal of an asset is detemiined as thc diff¢ren¢¢ between the sale proceeds and tbe arrying value of the ae¢ 8nd il is recognised in net income/(expenditure) for the year. A review for impairni¢nt of a fixed asset is carried out if events or changes in circumstances indicate that the carying value of any fixed a88Ct rnay not bc recoverable. Shortfalls between the carrying value of fixed assets and their recovernble an]ounts are recogllised as impairments. Impainnent losse8 are recognised in the Statcment of FinclaI Activities. Taxation The ch&ritabl¢ ¢(ryany is exempt from Corporation tax on its charitable activities, Page l4 continued...
London Chrl$tian School Ltd Noles to the Financial Statements - contfinlled for the Year Ended 31 August 2024 ACCOUNTING POLICIES- contiuued FuDd accoynting General fiLnd8 ar¢ unr¢stri¢t¢d fimds which ar¢ available for use at the discretion of the tru8tees in furth¢ran¢¢ of the general objectives of the charitable cornpany aud which have not been deSited for other pu0$¢$. Financial instruments The charitable company only has fiEwicial assets and financial li&bilities of a kind tha¢ qualify as basic financial instrnments. B&sic financial in8tnunenls are initialty r¢¢ognised at transaction value and subsequently measured at their s¢ttl¢m¢nt valu¢, Debtor8 Trade and other debt0 are reco8nised at the settlejnent amount after ally trade discount offere(L Prepaytnellts are valued the amount prepaid net of any trade discounts dutt. Ll*biiities Liabilities are recognised when there is an obligation at the Balance sheet dale ag a result of a past event. it 15 probable that a transfcr of economic benefit will be requircd in 8eÉtlement. and the amount of the 5ettlcment can be cstitnated reliably. Liabilities are recognised al the amournt that tbe charitablc cowany anticipates it WILI pay to settle the debt or th¢ amount it received as advanced paym¢nts for th¢ goods or s¢rvi¢¢s it must provide. Pensions The rh&rttable c4)mpany op¢rate5 a defined Contribution scheme. Contributions payable to tbe charitable CoMpanS peasion 8cheme charged to th¢ Statement of Financial Activities the period to svhich they relate. DONATIONS AD GRAiYrs 31.8.24 31.8.23 DonatioDs and gifts Grants Coll]mi8sion r¢ccived 5,599 82,440 131 3,840 70,918 88,170 74,758 Gr&nts receiv, included in the above. are as follows.. 31.8.24 31.8.23 Grants from UKCS 82,440 70,918 The support from UK Christian Schools Ltd (UKCS) 15 an unrestricted grant which London Christian School uses primarily for building maintenance costs and the fwiding of one full bursary place. Page 15 contillued...
London ChrlstlaTh School Ltd Note8 to Ibe Financial Statements- continlled ftsr the Year Ended 31 August 2024 INCOME FROM CHARITABLE ACTIVITIES 31.8.24 31.8.23 Activity Provision of education Provision of education Fees receivable Bursarieb 1,500,094 (78,469) 1,394,694 (28,577) 1,421,625 1,366,117 OTHER tNCOfvIE 31.8.24 31.8.23 Miscellancous income 2,257 2,864 CHARITABLE ACTivrriES COSTS Support costs (see note 6} Direct Costs Totals Provision of education 1,488,771 12,738 1,501,509 STJPPORT COSTS Governance costs Finance Totals Provision of education 848 11,890 12,738 Support ¢osts, included ia the above, are as follows: Fln8nce 31.8.24 Provision of education 31.8.23 Total activities Bank charges 848 822 Page 16 ontioued...
London Christian School Ltd Notes to Ihe FlllSIDeial Stateents- continued for th¢ YeAr Ellded 31 August 2024 SUPPORT COSTS - continued Goverllance costs 31.8.24 Provision 31.8.23 Totsl activities cducation Auditots, r¢muwation Payroll processing fees 8.400 3,490 8,400 3.244 11,890 11,644 IYET tNCOMEI(EXPENDITitRE) Net ill¢QDj(eKpellditure} is stated after chargingl(crediting): 31.8.24 31.8.23 D¢pr¢¢iatton - owned Sets R¢ntal cbarges Auditors, Temun¢ra¢ion 6,586 148,926 8,400 4,491 141,835 8,400 AUDITORS, REMUNERATION 31.8.24 31.8.23 Fees payable to the ¢barity'S auditors for the audit of the oharity's fmancial Statements 8,400 8.400 TRUSTEES, REMUNERATION AND BENEFITS Two (2023: tlllEe) of the truste¢5 have been paid remuneration or have received other beuefits for their services &8 employees of London Cbristiari School Ltd during the year ended 31 Aiigust 2024.. The8¢ pallts were made under appToved contraccs of employrnent. Total renwneration and other benefits, in¢luding employer pension oontributioDs, was as foIlow: 31.8.24 31.8.23 TD)wbridge. N Collett-Whit¢, N W6st, M 13,004 74,205 39J17 76,864 41,241 118,105 [26.526 Trustees, expenses Th¢r¢ were no trustees, expenses paid for the year ellded 31 August 2024 llor for the year ended 3 L August 2023. Page 17 continued..,
London Chrlsdan School Ltd Notes to the Finxneial Statements- continlled for the Yegr Ended 31 August 2024 io. STAFF COSTS 31.8.24 31.8.23 Wagcs and salaries Other p¢slon costs 1,004,457 37,452 881.935 33,939 1.041,909 915,874 During the year, the charity nude an ex gratia payEllent to an enwloyee of £l1.372.50 A8 part of a settlement aeement on the ernployee's depaiture. The average monthly number of employees during the year was as follows.. 31.8.24 20 3 1.8.23 21 Teaching staff Administrattve staff 27 28 The number of ernployees whose employee benefits (excluding employer pension costs) exceeded £60.000 was.. 3 1.8.24 31.8.23 £60,001 _ £70,000 £70,001- £80,000 K¢ mat)a ¢m¢nt i%onnel The total amount of employe¢ benefits, iucluding employer pension contributions, re¢eiv¢d by key nJanagemeDt personnel for thelr 8ervices to the charitable company during the year ended 31 August 2024 was £141.593 (2023: £126,526). Page 18 continued...
IA)ndou Christ14n School Ltd Notr3 to the Fillancial Statemenls- Continued for the Year Ellded 31 August 2024 ii. TANGIBLE FIXED ASSETS Fixture8 Computei equipment fitting8 TotaLs COST At I September 2023 Additions 59,972 1,577 70,425 10,765 130,397 12,342 Al 31 August 2024 6L,549 81,190 142,739 DEPRECIATION At I September 2023 Charge foT year 43,027 2,092 62,625 4,494 105,652 6,586 At 31 August 2024 45,119 67,119 112,238 NET BOOK VALifE At 31 August 2024 16,430 14,071 30,501 At 31 August 2023 16,945 7,800 24,745 12. STOCKS 31.8.24 31.8.23 Stocks 508 13. DKBTORS: AMOUNfs FALLJNG DUE wrrtllN ONE YEAR 31.8.24 31.8.23 Trade debtors Prepayments 10.862 5,778 10,565 10,565 16,640 Page 19 continued...
IA)Ddon Chrlstian School Ltd Note$ to the FinAlleial Sta*ements- eontinlled for the Year Ended 31 August 2024 14. CREDrroRS: AMOUNTS FAiLThG DUE wrrHKN ONE YEAR 3 L.8.24 31.8.23 Trade credltors Social security and other taxes Deposit beld Fees in advance Pension payable Ae¢wals and deferred income 31,725 21,867 301.860 718,890 5,922 10,154 37.77R 17,386 265.490 225.908 6,057 7,677 1,090,418 560,296 15. MOVEMENT IN FUNDS Net movement in fjjnds At 31.8.24 At 1.9.23 Unrestricted funds General fund 254,604 10.543 265.147 TOTAL FUNDS 254,604 10.543 265.147 Net movement in fimds, included in the above are as follows: Incoming resource5 Resources expended Movement in fimds Unrestrlcled funds General fund 1,512.052 (1,501,509) 10543 TOTAL FUNDS 1,512,052 (I,501,509) 10,543 Cornparatives for movement In fund$ Net movement in funds At 31.8.23 At 1.9.22 Unrestrieted funds General 148,989 105,615 254,604 TOTAL FUM)S L48,989 105.615 254.604 Page 20 ¢onlinued...
London Christlan School Lld Notes to the Flnanclal Statements- continued ror the Year Ended 31 August 2024 15. MOVEMENT IN FUNDS - contlnued Comp&rative net movement ill funds, included in th¢ above are as follows: Incoming resources Resources expended . Movement in funds Unrestrletsd funds Generdl fiind 1,443,739 (1,338,124) 105.615 TOTAL FifF4DS 1.443.739 (1,338.124) 105.615 A Cent year 12 months prior year 12 months ¢orubiThed position is a8 follows.. Net movement in thnds At 31.8.24 At 1.9.22 Unrestrlcted funds G¢neral fijnd 148,989 116,158 265.147 TOTAL FUNDS 148,989 116.158 265,147 A currcnt year 12 months and prior year 12 months combined oel mov¢rKnt in funds, Éncluded ill the above are as follows- -In¢Dming r¢sourc 'R¢suurces expended Movement in funds Ullrestrictsd fujhds General fund 2.955,791 (2.839.633) 116,158 TOTAL FufqDS 2,955,791 (2,839,633) 116,158 Pagc21 continued...
London Christlan School Ltd Notes to the FinaDcial Statement$- continued for the Year Ended 31 August 2024 16. RELATED PARTY DISCLOSURES The following trustees re also trustees of UK Christian Schools Ltd durittg the year ended 31 AUgt 2024 . this charity owns the school building and provides financial support for the school: Revd C Fishtock S Wilde ( to 20.11.23) During the year ended 31 August 2024. London Christian School Ltd made payments totalling £148,926 (2023: £141,835) to UK Cbristian Schools Ltd for the rental of 40 Tabard Street, IA)ndon SEI 41U. Two (2023: three ) c108e fami]y Members of the trustees received remuneration and other benefits, including employer pension contributions, of £17,088 {2023.. £40,093) for their work perforn)ed towards the charitable on]panJO8 objectives. These paymettts were made under approved contra¢ts of employment. Where applicable, staff and sibling discounts were made available during the y¢8r under vIeW. Page 22
IA)ndon Cbristlan School Ltd Detalled StAtement ol Financi1 Activities for the Year Ended 31 August 2024 31.8.24 31.8.23 INCOME AND ENDOIVMENTS Donartlons aud Erants Donations gifts Grants Collllnission received 5,599 82.440 131 3,840 70,918 88,170 74,758 Charitydble activities Fees rcceivable Bursaries 1,500,094 (78.469) 1.394.694 (28,577) 1,421,625 1,366,1 l7 Other income Miscellaueous illron 2,257 2,864 Total incoming i'esources ,512,052 1,443,739 I xP[rIURE Charltable activitles Wage8 incl social s¢curity Pensions Rates Insurance Utilities ¢05ts Telephone 14inting, post&g¢ and stationery Advertising Costs Sundry ¢xpen$es Hllf of prcmises M¢mbcrship fcc8 Cla8sroom resources and books Training courses Repairs and renewals Professional fees Comput¢r and rt expen8e8 Cleaning Relltal charges Bad debts written off Extracurri¢ul2r activities Other staff costs Cauied forward 1,004,457 37,452 12,544 8,466 8,993 5,586 15,020 4.450 6,934 12,196 14,203 20.036 l2,860 17.230 14.357 16.928 17,839 148,926 3.986 26,464 2.ts*9 1,4LO,976 881,935 33,939 11,798 6,885 9,567 8,343 12,281 10,379 12,225 13,474 10,467 22.060 11,041 14.458 3,148 17,486 16,983 141,835 4,959 IL,796 3,544 1,258,603 This pagc does not forni part of the statutory financial stst¢m¢nts Page 23
LoDdoll Chrlstlan School Ltd Detalled StatemeJTrt of Financial Actlvltles for the Year Ended 31 August 2024 31.8.24 31.8.23 ChAritable aetiviti Brought forward Contrdct staff DeprlatiOn - Fixtures & fitting8 Depreciation - Computer ¢quipment 1,4IO,976 71,208 2,093 4,494 1,25S,603 62,565 1,935 2,555 1.488,771 1.325,658 Support costs FiDance Bank charges 848 822 Governance costs Audilors, remuneration Payroll pressIng fee8 8,400 3,490 8,400 3,244 11,890 IL,6H Total r¢soure¢s expended 1,501,509 1,338,124 Net inc0e 10,543 105,615 This page does not fonn part of the statutory financial sl&temcnts Page 24