Charity number: 1157146
ROYAL HOSPITAL SCHOOL CHARITABLE TRUST (CIO)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
CONTENTS
| Pages | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 - 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 18 |
ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023
| Trustees | Andrew Tate (resigned 13 December 2022) |
|---|---|
| Judy Dow, Chair | |
| Tony Stenning (appointed 16 May 2023) | |
| Jonathan Agar (resigned 31 August 2023) | |
| Simon Lockyer | |
| Rebecca Winward | |
| Thomas Pratt (appointed 9 December 2022) | |
| Charity registered number 1157146 Principal office The Royal Hospital School Holbrook Ipswich Suffolk IP9 2RX Independent examiner Timothy O'Connor SB Audit LLP Chartered Accountants 820 The Crescent Colchester Business Park Colchester Essex CO4 9YQ |
Page 1
ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023
The Trustees present their annual report together with the financial statements of Royal Hospital School Charitable Trust (the charitable organisation known as "RHSCT" or the "Charity") for the year ended 31 August 2023.
The Trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015) as amended by Update Bulletin 1 (effective January 2019).
Objectives and activities
a. Policies and objectives
The objective of the Charity is to advance the education of pupils at the Royal Hospital School ("RHS" or the "School") , in particular, but not exclusively by:
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Providing bursaries, scholarships and prizes for education at the School;
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Supporting specific projects at the School relating to the advancement of education at the School; and
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Developing effective relationships between the pupils, staff, parents, alumni, friends and others associated with the School.
b. Main activities undertaken to further the Charity's purposes for the public benefit
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. Our objectives stated above show that this is our aim, and we endeavour to accomplish these objectives.
Achievements and performance
a. Main achievements of the Charity
During the year the Charity received donations amounting to £158,383 (2022 - £47,127). These monies received are to be spent on achieving the Charity's objectives in the current and future years.
Financial review
a. Going concern
The trustees and management have prepared detailed financial forecasts that indicate that the Charity will be able to continue to meet its liabilities as they fall due and will continue to operate for the foreseeable future, being at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements are prepared on the going concern basis.
b. Reserves policy
By virtue of the charity's operations and related entities, the Trustees do not consider it necessary to hold unrestricted reserves as the main charitable operation is taking the restricted income received from donations and expending it on restricted fund projects throughout the year.
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
Structure, governance and management
a. Constitution
Royal Hospital School Charitable Trust is a registered charity, number 1157146. The Charity was incorporated as a charitable incorporated organisation on 21 May 2014. The Charity is governed by its constitution which was registered with the Charity Commission on the date of incorporation.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees. The Headmaster of the Royal Hospital School is an ex officio Trustee. Further Trustees are appointed by the existing Trustee body in order that the CIO Trustees should consist of at least one former pupil, at least one current or former parent, and at least one Governor of the Royal Hospital School.
c. Organisational structure and decision-making policies
The Board of Trustees is the principal decision making body of the Charity.
d. Policies adopted for the induction and training of Trustees
Trustees are provided with an induction pack of information bespoke to RHSCT upon appointment. Trustees are also invited to visit the School on a regular basis to meet with the Headmaster, Chief Operating Officer and other members of RHS leadership. It is expected that Trustees undertake training appropriate to their role and opportunities are available through the School and other organisations, including AGBIS.
e. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
Future developments
Our fundraising strategy and resources are continually reviewed. Depending on the resources and expertise available, we expect to build on the foundations of previous years to enhance alumni relations and increase fundraising, through stronger communications and improved marketing.
Centennial Bursary Campaign
November 2022 saw the launch of the “Launch 100 Lives” campaign with all stakeholders considered in our approach. Through the use of bespoke campaign videos, social media, in person talks, web page and digital mailings we were able to reach alumni, parents, staff, governors, pupils, former staff and friends of the School.
Payroll Giving was introduced and currently we have 16 staff signed up for this. In addition, regular giving through direct debit/standing order has increased by 16 donors.
This year’s milestone event in the campaign took place on 26 to 27 April 2023, the inaugural Giving Day which raised £102,452 and enabled us to connect via email to 7,189 members of the RHS community. In total over the 36-hour period 442 donations were received.
Throughout the year we were able to piggyback off other school events to raise further funds, this included the School’s Gala Concert in March where a raffle raised £1,160 and a preshow gala dinner which raised a further £161.
At the end of the school year, we encouraged families of year 13 leavers to donate their deposit, and this generated a further £5,806 in income to the campaign (plus £450 to Friends of Music).
Future developments for Centennial Bursary Campaign will focus on improving and increasing our regular donations, in order to optimise the donor cycle through:
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Targeted outreach: Tailoring donor communications confidently to target individuals most likely to contribute to Centennial Bursary Campaign. This increases chances of finding donors interested in a long-term relationship with RHS.
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Better engagement: Understand the audience to connect with them on a more meaningful level. We now a have better understanding of what matters most to them and which messaging likely resonates, whether it is a with a major donor, lapsed donor, or anyone else.
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Deeper relationships: Create meaningful relationships that lead to strong donor stewardship, which inspires donors to give more and potentially recommend Centennial Bursary Campaign to friends, family, and communities. Those face-to-face conversations with people they respect or care about may be enough to pique prospective donors’ interest and explore our cause.
Over the next year we have a calendar of events (including the second Giving Day in June 2024) and merchandise to sell which will also generate further funds.
Annual Fund
The School’s Annual Fund was able to allocate over £8,500 to six wide-ranging projects directly benefiting pupils in the School today. These included equipment and resources for wellbeing spaces, new keyboards for the music department, picnic benches for every boarding house, a new and updated sound system for the drama department and a very popular giant outdoor chess board.
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Future developments Icontinuedl The fundraising events and efforts of the Royal Hospital School Parents, Association have contiibuted Slgnificanlly lo this fund. We are hugely grateful lo all those who have supported us, from every volunteer who serves lea and coffee al DThiisions, to organisers and attendees of social events su¢h as Burns Night as well as the annual Christmas Fayre. Statèment of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, Rèport and the financial slalements in accordance with applicable law and Uni19d Kingdom Accounting Standards (United Kingdom Generalty ACpted Accounting Praclicel. The law applicable to charities in England & Walès requires the Tnjslees lo ppare financial statements for each financial which give a true and fair view of the stale of affairs of the Charty and of ils incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them CDn$islent', observe the methods and principle5 of the Charities SORP IFRS 102)., make judgments and accounting estirnales that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 102) have been followed, subject to any material departures disclosed and explained in the financial slalemenls", and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are SLJfficienl to show and explain the Charity's transactions and disclose with reasonable accuraw at any time the financial position of the Charty and enable them to ensure that the financial statements comply wth the Charities Act 2011, the Charty (Accoun15 and Reports) RegulaliDns 2008 and the provision5 of the trust deed. They are also responsible for safeguarding the assets of the Charty and hence for taking reasonable steps for the prevention and detection of fraud and other irwularities. Approved by order of the members of the Board of Trustees on and signed Dn their behalf by- Tony Stenning Trustee Page 5
ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023
Independent Examiner's Report to the Trustees of Royal Hospital School Charitable Trust (the "Charity')
I report to the charity Trustees on my examination of the financial statements of the Charity for the year ended 31 August 2023.
This report is made solely to the Charity’s Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
n independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair’ view and my report is limited to those specific matters set out in the Independent Examiner's Statement.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| Notes Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities 3 Total expenditure Net income/(expenditure) before net gains/(losses) on investments Net gains/(losses) on investments Net income/(expenditure) Transfers between funds 10 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2023 £ 156,946 156,946 32,569 32,569 124,377 8,539 132,916 (1,456) 131,460 737,682 131,460 869,142 |
Unrestricted funds 2023 £ 1,437 1,437 2,893 2,893 (1,456) - (1,456) 1,456 - - - - |
Total funds 2023 £ 158,383 158,383 35,462 35,462 122,921 8,539 131,460 - 131,460 737,682 131,460 869,142 |
Total funds 2022 £ 47,127 |
|---|---|---|---|---|
| 47,127 51,710 |
||||
| 51,710 (4,583) (12,037) |
||||
| (16,620) - |
||||
| (16,620) 754,302 (16,620) |
||||
| 737,682 |
The Statement of Financial Activities includes all gains and losses recognised in the current and prior years.
The notes on pages 10 to 18 form part of these financial statements.
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Note$ Ftxed assets Investments 628,544 620,D05 628,544 620,005 Currant assets Debtors Cash at bank and in hand 20,240 222,938 1,495 118,582 243,178 120,077 Creditors.. amounts falling due within one year 12,5801 {2,400) Net Current assets 240,598 117,677 Total net assets 869,142 737.682 Charity funds Restricted ftjnds 10 869,142 737,682 Unrestricted funds 10 Total funds 10 869,142 737,682 The financial statements were approved and authorised for issue by the Trustges on and signed on their behalf by.. ILI Iy Tony Stenning Trustee The notes on pages 10 10 18 fomi part of these financial $18lements. Page 9
ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Royal Hospital School Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Going concern
fhe Trustees and management have prepared financial forecasts that indicate that the Charity will be able to continue to meet its liabilities as they fall due and will continue to operate for the foreseeable future, being at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements are prepared on the going concern basis.
1.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 10
ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. Accounting policies (continued)
1.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
2. Income from donations and legacies
| Donations Total 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 156,946 1,437 38,151 8,976 |
Total funds 2023 £ 158,383 47,127 |
Total funds 2022 £ 47,127 |
|---|---|---|---|
3. Analysis of expenditure on charitable activities
Summary by fund type
| Direct costs Total 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 32,569 2,893 45,484 6,226 |
Total 2023 £ 35,462 51,710 |
Total 2022 £ 51,710 |
|---|---|---|---|
4. Analysis of expenditure by activities
| Direct costs Total 2022 |
Activities undertaken directly 2023 £ 32,569 48,601 |
Support costs 2023 £ 2,893 3,109 |
Total funds 2023 £ 35,462 51,710 |
Total funds 2022 £ 51,710 |
|---|---|---|---|---|
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
4. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Total | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations payable | 32,569 | 48,601 |
Analysis of support costs
| Activities 2023 £ Governance costs 2,893 Total 2022 3,109 Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts Fees payable to the Charity's independent examiner in respect of: - Taxation compliance services |
Total funds 2023 £ 2,893 3,109 2023 £ 2,280 300 |
Total funds 2022 £ 3,109 |
|---|---|---|
| 2022 £ 2,024 258 |
5. Independent examiner's remuneration
6. Trustees' remuneration and expenses
During the year, none of the Trustees received any remuneration for their qualifying services or other benefits (2022 - £NIL).
During the year ended 31 August 2023, no Trustee expenses have been incurred (2022 - £NIL).
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
7. Fixed asset investments
| Valuation At 1 September 2022 Revaluations At 31 August 2023 Net book value At 31 August 2023 At 31 August 2022 8. Debtors Due within one year Other debtors 9. Creditors: Amounts falling due within one year Accruals and deferred income |
2023 £ 20,240 2023 £ 2,580 |
Listed investments £ 620,005 8,539 |
|---|---|---|
| 628,544 | ||
| 628,544 | ||
| 620,005 | ||
| 2022 £ 1,495 2022 £ 2,400 |
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
10. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Music Bursaries Heritage Centre De Neumann Legacy Heritage Cafe Annual Fund Hood House Total of funds |
Balance at 1 September 2022 £ - 8,483 116,545 72 586,352 10,476 15,754 - 737,682 737,682 |
Income £ 1,437 2,942 151,259 - - - 145 2,600 156,946 158,383 |
Expenditure £ (2,893) (5,011) - - (16,608) (646) (8,796) (1,508) (32,569) (35,462) |
Transfers in/out £ 1,456 (32) (1,340) (72) - 23 (35) - (1,456) - |
Gains/ (Losses) £ - - - - 8,539 - - - 8,539 8,539 |
Balance at 31 August 2023 £ - |
|---|---|---|---|---|---|---|
| 6,382 266,464 - 578,283 9,853 7,068 1,092 |
||||||
| 869,142 | ||||||
| 869,142 |
A transfer has been made between general funds and restricted funds to reflect that overheads are to be recharged to restricted funds.
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| 10. Statement of funds (continued) Statement of funds - prior year Balance at 1 September 2021 £ Income £ Unrestricted funds General Funds - all funds 9,119 8,976 Restricted funds Music 8,535 2,338 Library redevelopment (9,581) 9,581 Bursaries 118,077 26,232 Heritage Centre 60 - De Neumann Legacy 617,404 - Heritage Cafe 10,688 - Annual Fund - - 745,183 38,151 Total of funds 754,302 47,127 |
Expenditure £ (6,226) (2,396) - (24,073) - (19,015) - - (45,484) (51,710) |
Transfers in/out £ (11,869) 6 - (3,691) 12 - (212) 15,754 11,869 - |
Gains/ (Losses) £ - - - - - (12,037) - - (12,037) (12,037) |
Balance at 31 August 2022 £ - |
|---|---|---|---|---|
| 8,483 - 116,545 72 586,352 10,476 15,754 |
||||
| 737,682 | ||||
| 737,682 |
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
11. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 September 2022 £ - 737,682 737,682 |
Income £ 1,437 156,946 158,383 Income £ 8,976 38,151 47,127 |
Expenditure £ (2,893) (32,569) (35,462) Expenditure £ (6,226) (45,484) (51,710) |
Transfers in/out £ 1,456 (1,456) - Transfers in/out £ (11,869) 11,869 - |
Gains/ (Losses) £ - 8,539 8,539 Gains/ (Losses) £ - (12,037) (12,037) |
Balance at 31 August 2023 £ - 869,142 |
|---|---|---|---|---|---|---|
| 869,142 | ||||||
| Balance at 31 August 2022 £ - 737,682 |
||||||
| Summary of funds - prior year | ||||||
| General funds Restricted funds |
Balance at 1 September 2021 £ 9,119 745,183 754,302 |
|||||
| 737,682 |
12. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2023 Unrestricted funds 2023 £ £ 628,544 - 240,598 2,580 - (2,580) 869,142 - |
Total funds 2023 £ 628,544 243,178 (2,580) |
|---|---|---|
| 869,142 |
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ROYAL HOSPITAL SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
12. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2022 £ 620,005 120,077 (2,400) 737,682 |
Total funds 2022 £ 620,005 120,077 (2,400) 737,682 |
|---|---|---|
13. Related party transactions
During the year donations amounting to £31,060 (2022 - £47,278) were paid to The Royal Hospital School. The Charity has not entered into any other related party transactions during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 August 2023 or 31 August 2022.
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