COMPANY REGISTRATION NUMBER: CE000183 CHARITY REGISTRATION NUMBER: 1153761 Scholae Mundi Foundation (CIO) Company Limited by Guarantee Unaudited Financial Statements 31 December 2024
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Financial Statements Year ended 31 December 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 December 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. Reference and administrative details Registered charity name Scholae Mundi Foundation (CIO) Charity registration number 1153761 Company registration number CE000183 Principal office and registered Riverbank House office 2 Swan Lane London EC4R 3 The trustees Mr Ogdon Ms. De Horna Viedma Mr Gurdjian Mr Jilavyan Ms. O'clery Ms Zonabend
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2024 Structure. governance and management Structure, governance and management Structure The Scholae Mundi Foundation ('Ihe charity") is a charitable incorporated organization (CIO), not having share capital and was Incorporated on 11 September 2013, It operates in accordance with a Governing Document adopted on 11September 2013, If the Gharity is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. Governance and Management The trustees (who are the key management personnel of the charity) make the key decisions about the conduct ofthe charity, Since December 9, 2016, and till the present date, the charity has ceased to have an Executive Director. The trustees do not receive any remuneration of their services to the charity. Risk management Business decisions and the associated risk factors are considered at least annually. As part of this process the internal controls that are in place are reviewed, Internal control risks are minimized by a clear system of delegated authority and control, and procedures for the authorization of all financial transactions. The trustees are satisf5ed that these are Currently adequate to manage and reduce the risks identified, To Improve the internal controls, the donations, receiving procedure was developed and should be put in place before the year end. Objectives and activities Objectives and Activities of the charity -The main charitable objective of the charity is to promote, for the public benefit. the education (Including social and physical training) of students at the Dilijan International School, and such other educational establishments as the charity trustees may select, in such ways as the charity trustees think fit, including by.. .Providing and assisting In the provision of facilities for education at such establishments-, and Awarding to such students, scholarships, maintenance allowances or grants tenable at such establishments. The charity shall also further such other purposes that are charitable under the laws of England and Wales Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity. Achievements and performance During the year ended 31 December 2024, Scholae Mundi Foundation did not carry out any activities during the financial year and had no income or expenditure.
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (Continued) Year ended 31 December 2024 Financial review The financial activities statement presents the results for the year. During the period, the charity had no income or expenditure. No audit or independent examination was required under section 145 of the Charities Act 2011. As of 31 December 2024, the restricted reserves balance stood at £(13,847) (unchanged from 2023), while the unrestricted reserves had a balance of £7,847 (also unchanged from 2023), with no financial movements during the year. The trustees are satisfied that the charity remains financially stable and well positioned to resume activities once new funding is secured. Plans for future periods The charity remains registered and inactive. Trustees intend to resume charitable activities when funding becomes available The trustees, annual report and the strategic report were approved on 27 October 2025 and signed on behalf of the board of trustees by.. Ms Zonabend Trustee
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 December 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Income and endowments Donations and legacies Total income 22,354 22,354 Expenditure Expenditure on ¢haritable activities Other expenditure Total expenditure 10,000 4,415 14,415 Net incomel{expenditure) and net movement in funds 7,939 Reconciliation of funds Total funds broughtfotward Total funds carried forward (6,000) (6,000) (13,939) (6,000) {6,000> The statement of financial activities includes all gains and losses recognized in the year. All income and expenditure derive from continuing activities.
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Statement of Financial Position 31 December 2024 2024 2023 Note Current assets Cash at bank and in hand Creditors: amounts falling due within one year Net current liabilities 12 6,000 6,000 Total assets less current liabilities (6,000) (6,000) Net liabilities Funds of the charty Restricted funds Unrestricted funds {13,847) (13,847) {0) {13,847) (13,939) Total charity funds 13 Forthe year ending 31 December 2024, the charity was entitled to exemption from audit under section 4T1 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 478., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorized for issue on 27 October 2025, and are signed on behalf of the board by: Ms Zonabend Trustee The notes on page5 8 to 13 form part of these flnanclal ststements.
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Rtverbank House, 2 Swan Lane, London, EC4R 3rr. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties aboutthe charity's abilty to continue. Judgements and key sources of estimation uncertainty Critical accounting estimates and areas ofjudgement There are currently no significant judgements and estimates made by the trustees in the preparation of the accounts. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. RestriGted funds are subjected to restrictions on their expenditure declared by the donor or through the tems of an appeal, and fall into one of two sub-classes-. restricted income funds or endowment funds.
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Notes to the Financial Ststements (contlnuedj Year ended 31 December 2024 Accounting policies (contlnuedj Incoming resources All incoming resources are included in the statement of financial activities when entttlement has passed to the charity- it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognized when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably. legacy income is recognized when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognized in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognized with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognized on an accruals basis a5 a liability is incurred. Expenditure includes any VATwhich cannot be fully recovered, and is classified under headings ofthe statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charty in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognized only when the charity becomes a paty to the contractual provisions of the instrument.
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Notes to the Financial Statements (Contlnued) Year ended 31 December 2024 Accounting policies {¢onUnued) Financial instruments (continued) Basic financial instruments are initially recognized at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortized cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value wtth changes in fair value recognized in income and expenditure. All other such investments are subsequently measured at cost less impaiment. Other financial instruments, including derivatives, are initially recognized at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Otherfinancial instruments are subsequently measured atfair value, with any changes recognized in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortized cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognized under the appropriate heading in the statement of financial activities in which the initial gain was recognized. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognized immediately, to the extent that the reversal does not result in a Carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognized. Limited by guarantee Scholae Mundi Foundation (CIO) is a Charitable incorporated organization, limited by guarantee, registered in England and Wales, registration number CE000183.
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2024 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations and legacies Unrestricted Donations and legacies Restricted Unrestricted Restricted Total Funds Funds Funds 2023 Donations Donations and legacies Unrestricted Donations and legacies Restricted 12,354 12,354 10,000 22,354 10,000 12,354 10,000 Expenditure on charitable activities by fund type Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Direct expenditures 10,000 10,000 Expenditure on charitable activities by activity type Activtties undertaken Total funds directty 2024 Total fund 2023 Direct expenditures 10,000 Other expenditure Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank charges Accountancy fees 478 3,937 4,415
Scholae Mundi Foundation {ClO) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2024 Independent examination fees 2024 2023 Fees payable to the independent examinerfor. Independent examination of the financial statements 4,200 10. Staff costs The average head count of employees during the yearwas Nil (2023: Nil). No employee received employee benefits of more than £60,000 during the year12023: Nil). 11. Trustee remuneration and expenses No trustees received any emoluments for their services as trustees during the period. No trustees were reimbursed any expenses during the period. 12. Creditors: amounts falling duewithin one year 2024 2023 Accruals and deferred income Other creditors 4,200 1,800 6,000 13. Analysis of charitable funds Unrestricted funds At 1 January 2024 At 31 December 2024 Income Expenditure General fvnds 7,847 7,847 At 1 January 2023 At 31 December 2023 Income Expenditure General funds (92> 12,354 (4,4151 7,847 10
Scholae Mundi Foundation (CIO) Company Limited by Guarantee Notes to the Financial Statements (contsnued) Year ended 31 December 2024 13. Analysis of charitable funds (¢ontinued) Restricted funds At 1 January 2024 At 31 December 2024 Income Expenditure Restricted Fund 3- desc in alcs Restricted fund 9- desc in alcs (13,847} (13,847) (13,847) (13,847) At 1 January 2023 At 31 December 2023 Income Expenditure Restricted Fund 3 - desc in alcs Restricted fund 9 - desc in alcs (13,847) (13,847) 10,CXJO lo,¢) (10,000) (10,000) (13,847) (13,8471 The specific purposes forwhich the funds are to be applied are as follows: Restricted Fund 3.. Dilijan General funds comprise monies received to cover the operational expenses of UWC Dilijan. Restricted fund 9.. The charity's income and expenditure were nil for the year. 14. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net liabilities 7,847 {13,847) {6,000) 7,847 (13,847) {6,000} Unrestricted Funds Restricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net liabilities 7,847 (13,847) (6,000) 7,847 (13,847) (6,000) 13