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2022-08-31-accounts

REGISTERED COMPANY NUMBER: 07292254 (England and Wales) REGISTERED CHARITY NUMBER: 1138194

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

FOR

KNOWLEDGE SCHOOLS FOUNDATION TRUST (A COMPANY LIMITED BY GUARANTEE)

Haines Watts Chartered Accountants Old Station House Station Approach Newport Street Swindon Wiltshire SN1 3DU

KNOWLEDGE SCHOOLS FOUNDATION TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Statement of Financial Position 8
Notes to the Financial Statements 9 to 14

KNOWLEDGE SCHOOLS FOUNDATION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Our trust's purpose, as set out in the objects contained in the company's Memorandum of Association are to:

"advance for the public benefit education in the United Kingdom, in particular but without prejudice to the generality of the foregoing by promoting the establishment maintenance, carrying on, management and development of Knowledge Schools Trust

The aims and objectives of our trust are to support the schools and pupils in Knowledge Schools Trust.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Page 1

KNOWLEDGE SCHOOLS FOUNDATION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

ACHIEVEMENT AND PERFORMANCE Charitable activities

This year the trust's activities have returned to being more normal as they are no longer constrained by Covid 19 and the lockdowns. The Trust supported a number of enrichment activities that the Schools were able produce for the benefit of all of the pupils.

Funding

The Trust funded itself through standing order donations from parents/carers, one off donations from parents/carers and other interested parties, related Gift Aid payments, corporate gifts and grants from foundations. Total revenue increased £13,457 to £141,973. The majority of unrestricted funds come from monthly standing orders amounting to just over £84,000. However, while total revenue increased, donations from individuals decreased by £14,072 from the prior year to £95,550. This is down almost £30,000 from FY 2020. This decrease is very concerning and action will be needed to be taken to increase these donations particularly in light of the pressure due to the cost of living increases.

During the year, KSFT was very pleased to receive grants from two foundations.

KSFT was also pleased to be able to arrange a grant from John Lyons Charity directly to West London Free School to enable all 130 pupils in Year 8 to visit the Old Vic Theatre to watch a production of “A Christmas Carol” by Charles Dickens.

KSFT was also pleased to receive a corporate matching gift of £6,000 during the year.

Gift Aid amounted to ££35,363 which included collection of £17,831 for the secondary for FY2020 and £17,531 for the primaries for FYs 2019, 2020, and 2021.

All the funds raised are restricted for use in the school for which they are raised. In FY 2022 funding for the Secondary and Sixth Form school amounted to £84,929 and for the primaries £57,486. It is crucial that KSFT increases the funding from individuals so that the programmes can be maintained and expanded.

Enrichment Grants provided:

The purpose of the Trust is to enrich the education of the pupils of schools in Knowledge Schools Trust. During the year the Trust provided grants across the schools and covering a range of areas. The distribution of the grants is shown at the bottom of this section.

The co-curricular program is an area that has been a key focus for the Trust over the years and was again a key focus for the Trust this year. The trust funded the exceptional programme for the Secondary and Sixth form. The school is to be congratulated on successfully delivering a wide range of activities across three sectors: sport, creative and academic. The students were encouraged to participate in all three sectors. The programme was well received by the students with increased participation.

The Trust supports art scholarships for two 6th form pupils from each year. The initial scholarships has been generously funded by the South Square Trust.

The Music department remained very active and the Foundation Trust funded the purchase of a piano as well as lessons on playing rare instruments that are focused on students that could not have otherwise afforded them.

KSFT continues to fund the Unifrog programme that assists pupils with planning and navigating their next steps from year 11 and year 13.

The need for hardship grants has thankfully dissipated this year though KSFT was pleased to be able to help fund a pupil to successfully prepare for university exams after having suffered from the pandemic and lockdowns.

The Foundation Trust also made grants for the benefit of the primary schools pupils. This year the largest grant went to replace the outdoor reception area (MUGA) at West London Free School Primary. Grants were also provided to the two schools located at Cambridge Grove to fund Football tables, water coolers, High Viz

vests

KNOWLEDGE SCHOOLS FOUNDATION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

and play equipment. The Daisy Trust kindly provided a substantial portion of the funding for the play equipment. Additionally, KSFT again provided a grant for leaving gifts to those pupils graduating from year 6 at WLFSP and Earl’s Court Free School to their next school.

The Foundation continued to have the benefit of a large grant made in FYE 2019 from Johnnie Boden and Julian Granville for the purpose of running three programmes of which the World of Work (WoW) programme continues to benefit from the grant. The other two programmes have successfully moved on and now fund themselves or have found a place within the core school funding.

FY 2022 was the fourth year of an initially envisaged 3 year programme to deliver the WoW programme. The programme is designed to improve the careers education provision throughout the school, with a particular focus on disadvantaged students. The programme includes:

The Foundation Trust is very grateful to Mr. Boden and Mr. Granville for making the very generous donations to make the programmes possible.

Expenses

Expenses remain low as a policy with the Trust having no employees. This year admin expenses increased from prior years due to one off legal fees in conjunction with finalising the PKC project.

KNOWLEDGE SCHOOLS FOUNDATION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW

Reserves policy

Total reserves held by the Trust at the year-end were £298,252 (2021 £303,102). £21,760 (2021 £52,705) were held in restricted funds and £276,492 (2021 £250,397) in unrestricted funds. The trustees have examined the trust's requirements for reserves in light of the main risks to the organisation. At this time the trustees consider the reserves to be more than adequate. Free reserves at the year-end amounted to £276,492 (2021 £250,397).

The results for the period are set out on page 7 and disclose that the trust's income was £142,415 (2021 £129,069) and expenditure on was £147,265 (2021 £132,258). The charity made a deficit for the year of £4,850 (2021 deficit £3,189).

FUTURE PLANS

During 2022-2023 the trust plans to continue to raise funds for enhancing the educational experience of the pupils attending the schools of Knowledge Schools Trust primarily through the collection of voluntary donations from parents and supporters of the school. The trust also plans to raise funds from outside donors and foundations. Funds raised will be utilised in making grants in support of the total educational experience of the pupils in the schools within the Knowledge Schools Trust as decided by the Foundation Trust's tustees. During the year it is intended that KSFT will become active in raising funds and making grants to an additional schools in Knowledge Schools Trust. Edlesborough Primary Academy and Dovery Academy.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Knowledge Schools Foundation Trust is a registered charity No 1138194 and registered company No 07292254. The governing document of the charity is its Memorandum and Articles of Association dated 20 May 2010. The charity was incorporated on 22 June 2010 as a company limited by guarantee and with no share capital. It was registered with the Charity Commission of England and Wales on 28 September 2010. The company changed its name from the West London Free School Foundation Trust to Knowledge Schools Foundation Trust on the 24th of July 2017 which was registered with the Charities Commission on the 27th of July 2017. The members of the company are the trustees. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per subscriber of the company.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purpose of charity law. New trustees may be appointed by the trust by ordinary resolution. All trustees may be reappointed at their rotation date at the AGM. All trustees are also Members. The trustees of the trust are elected to serve for a period of four years. Trustees retire by rotation and, being eligible, offer themselves for re-elections. All trustees give their time voluntarily and receive no benefits from the Trust. The Trust continues to look to add new trustees with relevant skills and experience.

Induction and training of new trustees

In 2021-2022 6 of the trustees serving during the year were familiar with the trust having been involved with the Trust for at least three years and one of those trustees has been involved since inception in 2010. New trustees are provided with all the relevant trust documents and policies which are available on the KSFT website. New Trustees are also provided with an induction session with the chairman to learn about all the activities of the trust and their role and responsibilities as a KSFT Trustee. Additionally, they have been provided with materials on the function of charities depending on the needs of the new trustees.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07292254 (England and Wales)

Registered Charity number

1138194

Page 4

KNOWLEDGE SCHOOLS FOUNDATION TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

Registered office 8 Finstock Road London W10 6LT

Trustees

Ms K A Cooper Mr J P Granville Mr T S Newman Ms D Purdy Mrs C Roberts (resigned 6.7.22) Mr T D M Young Mrs S M Ford (appointed 21.3.22)

Independent Examiner

Haines Watts Chartered Accountants Old Station House Station Approach Newport Street Swindon Wiltshire SN1 3DU Approved by order of the board of trustees on ..25[th] January 2023.................... and signed on its behalf by:

.............................................................. Mr T S Newman - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KNOWLEDGE SCHOOLS FOUNDATION TRUST

Independent examiner's report to the trustees of Knowledge Schools Foundation Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Susan Plumb ACA Haines Watts Chartered Accountants Old Station House Station Approach Newport Street Swindon Wiltshire SN1 3DU

Date: 15 February 2023

Page 6

KNOWLEDGE SCHOOLS FOUNDATION TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
136,913
Investment income
3
442
Total
137,355
EXPENDITURE ON
Raising funds
1,245
Charitable activities
4
School and educational enrichment activities
101,007
Admin costs
9,008
Total
111,260
NET INCOME/(EXPENDITURE)
26,095
RECONCILIATION OF FUNDS
Total funds brought forward
250,397
TOTAL FUNDS CARRIED FORWARD
276,492		 Restricted
funds
£
5,060
-
5,060
-
36,005
-
36,005
(30,945)
52,705
21,760		 2022
Total
funds
£
141,973
442
142,415
1,245
137,012
9,008
147,265
(4,850)
303,102
298,252		 2021
Total
funds
£
128,516
553
129,069
600
129,414
2,244
132,258
(3,189)
306,291
303,102

The notes form part of these financial statements

Page 7

KNOWLEDGE SCHOOLS FOUNDATION TRUST

STATEMENT OF FINANCIAL POSITION 31 AUGUST 2022

Unrestricted
fund
Notes
£
CURRENT ASSETS
Cash at bank
310,335
CREDITORS
Amounts falling due within one year
9
(33,843)
NET CURRENT ASSETS
276,492
TOTAL ASSETS LESS CURRENT
LIABILITIES
276,492
NET ASSETS
276,492
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
21,760
-
21,760
21,760
21,760		 2022
Total
funds
£
332,095
(33,843)
298,252
298,252
298,252
276,492
21,760
298,252		 2021
Total
funds
£
334,402
(31,300)
303,102
303,102
303,102
250,397
52,705
303,102

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ..25[th] January 2023 and were signed on its behalf by:

............................................. Mr T S Newman - Trustee

The notes form part of these financial statements

Page 8

KNOWLEDGE SCHOOLS FOUNDATION TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity and is rounded to the nearest £.

Going concern

There are no significant concerns about the charity's ability to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

Limited by guarantee

The charity is a company limited by guarantee. In the event of the company being wound up the liability of the members is limited to £10.

Page 9

continued...

KNOWLEDGE SCHOOLS FOUNDATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

2. DONATIONS AND LEGACIES

Donations - Individuals
Donations - Corporate
Gift aid
Grants
Grants received, included in the above, are as follows:
South Square Trust Art Scholarship
Daisy Trust Play Equipment
3.
INVESTMENT INCOME
Interest
4.
CHARITABLE ACTIVITIES COSTS
School and educational enrichment
activities
Admin costs		 2022
£
95,550
6,000
35,363
5,060
141,973
2022
£
3,000
2,060
5,060
2022
£
442		 2021
£
109,622
-
18,894
-
128,516
2021
£
-
-
-
2021
£
553
Direct
Costs
£
137,012
9,008
146,020

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Page 10

continued...

KNOWLEDGE SCHOOLS FOUNDATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES FYE 2021
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
128,516
-
Investment income
553
-
Total
129,069
-
EXPENDITURE ON
Raising funds
600
-
Charitable activities
School and educational enrichment
activities
53,471
75,943
Admin costs
2,244
-
Total
56,315
75,943
NET INCOME/(EXPENDITURE)
72,754
(75,943)
RECONCILIATION OF FUNDS
Total funds brought forward
177,643
128,648
TOTAL FUNDS CARRIED FORWARD
250,397
52,705
7.
INDEPENDENT EXAMINERS FEES
2022
£
Fees payable to Independent Examiner
1,900
8.
STAFF COSTS		 Total
funds
£
128,516
553
129,069
600
129,414
2,244
132,258
(3,189)
306,291
303,102
2021
£
1,800,

No staff were employed by the Trust during the year (2021 same).

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continued...

KNOWLEDGE SCHOOLS FOUNDATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals and deferred income
10.
MOVEMENT IN FUNDS
At 1/9/21
£
Unrestricted funds
General fund
250,397
Restricted funds
6th Form
1,270
Boden Granville
49,435
Gowing Music
2,000
South Square Trust Art Scholarship
-
52,705
TOTAL FUNDS
303,102
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
137,355
Restricted funds
Boden Granville
-
Gowing Music
-
Daisy Trust Play Equipment
2,060
South Square Trust Art Scholarship
3,000
5,060
TOTAL FUNDS
142,415		 2022
2021
£
£
33,843
31,300
Net
movement
At
in funds
31/8/22
£
£
26,095
276,492
-
1,270
(31,178)
18,257
(1,917)
83
2,150
2,150
(30,945)
21,760
(4,850)
298,252
Resources
Movement
expended
in funds
£
£
(111,260)
26,095
(31,178)
(31,178)
(1,917)
(1,917)
(2,060)
-
(850)
2,150
(36,005)
(30,945)
(147,265)
(4,850)

Page 12

continued...

KNOWLEDGE SCHOOLS FOUNDATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
6th Form
Boden Granville
Gowing Music
Jazz Foundation
TOTAL FUNDS		 At 1/9/20
£
177,643
1,270
124,878
2,000
500
128,648
306,291		 Net
movement
in funds
£
72,754
-
(75,443)
-
(500)
(75,943)
(3,189)		 At
31/8/21
£
250,397
1,270
49,435
2,000
-
52,705
303,102

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Boden Granville
Jazz Foundation
TOTAL FUNDS		 Incoming
resources
£
129,069
-
-
-
129,069		 Resources
Movement
expended
in funds
£
£
(56,315)
72,754
(75,443)
(75,443)
(500)
(500)
(75,943)
(75,943)
(132,258)
(3,189)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
6th Form
Boden Granville
Gowing Music
Jazz Foundation
South Square Trust Art Scholarship
TOTAL FUNDS		 At 1/9/20
£
177,643
1,270
124,878
2,000
500
-
128,648
306,291		 Net
movement
in funds
£
98,849
-
(106,621)
(1,917)
(500)
2,150
(106,888)
(8,039)		 At
31/8/22
£
276,492
1,270
18,257
83
-
2,150
21,760
298,252

Page 13

continued...

KNOWLEDGE SCHOOLS FOUNDATION TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Boden Granville
Gowing Music
Jazz Foundation
Daisy Trust Play Equipment
South Square Trust Art Scholarship
TOTAL FUNDS		 Incoming
resources
£
266,424
-
-
-
2,060
3,000
5,060
271,484		 Resources
Movement
expended
in funds
£
£
(167,575)
98,849
(106,621)
(106,621)
(1,917)
(1,917)
(500)
(500)
(2,060)
-
(850)
2,150
(111,948)
(106,888)
(279,523)
(8,039)

6th Form - funds received for the 6th form and its Library.

Boden - Granville - funds received to deliver programmes in

Gowing Music - Funds received to further the music program at West London Free School.

Jazz Foundation - Funds received to help purchase an outside ping pong table.

South Square Trust Art Scholarship – Funds received from the South Square Trust to support the 6[th] form Art Scholarship Programme.

The Daisy Trust – funds received to support the purchase of playground equipment for the Cambridge Grove schools site.

11. RELATED PARTY DISCLOSURES

During the year ended 31 August 2022 a total of £137,012 (2021: £129,346) was donated to the Knowledge Schools Trust, and the schools within, a company of which 1 of the Foundation Trust trustees also serves as trustee. 1 Trustee is a governor of West London Free School, 1 trustee is a governor of West London Free School Primary/Earl’s Court Free School Primary and 2 trustees are Members of Knowledge Schools Trust. The Chair of the Knowledge Schools Trust is a Member of Knowledge Schools Foundation Trust.

Page 14