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2025-07-31-accounts

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Charity registration number 1160628 (England and Wales)

FRENCH SCHOLARSHIP FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

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FRENCH SCHOLARSHIP FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Amélie Mallet Gael Panhelleux Isabelle Lamy Ghislain Bouriez Tatiana Pogossian Charity number 1160628 Principal address 192 Walm Lane London NW12 3BP Independent examiner KLSA LLP Kalamu House 11 Coldbath Square London EC1R 5HL

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FRENCH SCHOLARSHIP FOUNDATION

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 10

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FRENCH SCHOLARSHIP FOUNDATION

TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2025

The trustees present their annual report and financial statements for the year ended 31 July 2025.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's trust deed, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The object of the foundation is to advance the education & promote the continued attendance of any child registered with the College Francais Bilingue De Londres Ltd (CFBL) or with the Lycee International De Londres Winston Churchill (LIL) through relief of financial hardship of the parents or guardians of such child in such ways as the charity trustee think fit, including by payment from the CIO’s fund and its income towards:

The French Scholarship Foundation (FSF) is a registered charity in 2015 whose object is to provide financial support for school fees to families facing temporary financial hardship.

Public Benefit

The trustees have given due consideration to Charity Commission's published guidance on the Public Benefit requirement under the Charity Act 2011).

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

The charity received donations amounting to £55,635 (2024: £120,860) during the period. These funds come from individuals and from other charities.

The trustees have been seeking ways of fundraising and approaching companies with a view to promote the charity and raise funds.

FSF have continued to work with the Charity Friends of the Lycee (FOL) to support families who transferred from CFBL to LIL Winston Churchill, allowing families to carry on their education in the French system despite the school fees discrepancy.

FSF awarded 16 grants, 6 for LIL families and 10 for CFBL families.

FSF is working along with both schools, CFBL and LIL Winston Churchill and their respective Parents associations (“APC” and “APLIL”). FSF is promoted on both school websites.

Each request is dealt with thoroughly, fairly, impartially and with sensitivity always using objective criteria and GDPR compliantly.

Financial review

The total income for the year ended 31 July 2025 amounted to £57,201 (2024: £120,860). The total expenditure of £141,683 (2024: £75,536) was incurred.

The deficit of income versus expenditure for the year was £84,482 (2024: surplus of £45,324).

The cash position decreased to £179,793 (2024: £264,275) due to resources expended exceeding incoming resources.

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FRENCH SCHOLARSHIP FOUNDATION

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have reviewed the reserves policy. The trustees are of the opinion that the reserves should be at a level which can enable the charity to function for a minimum period of six months in the absence of any incoming resources.

Risk management

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Charity is a Charitable Incorporated Organisation (CIO) governed according to the Constitution dated 25 February 2015.

The trustees who served during the year and up to the date of signature of the financial statements were:

Amélie Mallet Gael Panhelleux Isabelle Lamy Ghislain Bouriez Tatiana Pogossian Danielle Raymond (Resigned 11 August 2024)

The recruitment and appointment of new trustees is by recommendation of the existing trustees.

The trustees report was approved by the Board of Trustees.

Ghislain Bouriez Trustee

20 May 2026

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FRENCH SCHOLARSHIP FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FRENCH SCHOLARSHIP FOUNDATION

I report to the trustees on my examination of the financial statements of French Scholarship Foundation (the Charity) for the year ended 31 July 2025, which are set out on pages 4 to 10.

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.

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Basis of Independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next 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:

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 financial statements to be reached.

Jaimin Shah FCCA KLSA LLP Chartered Accountants Kalamu House 11 Coldbath Square London EC1R 5HL

Dated: 20 May 2026

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FRENCH SCHOLARSHIP FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 55,635 120,860
Investments 4 1,566 -
Total income 57,201 120,860
Expenditure on:
Charitable activities 5 141,653 75,476
Other expenditure 11 30 60
Total expenditure 141,683 75,536
Net income/(expenditure) and movement in funds (84,482) 45,324
Reconciliation of funds:
Fund balances at 1 August 2024 264,275 218,951
Fund balances at 31 July 2025 179,793 264,275

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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FRENCH SCHOLARSHIP FOUNDATION

BALANCE SHEET

AS AT 31 JULY 2025

2025
Notes
£
Current assets
Cash at bank and in hand
180,994
Creditors: amounts falling due within
one year
13
(1,201)
Net current assets
The funds of the Charity
Unrestricted funds
The financial statements were approved by the trustees on 20 May 2026
Ghislain Bouriez
Trustee
£
179,793
179,793
179,793
2024
£
265,355
(1,080)
£
264,275
264,275
264,275

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FRENCH SCHOLARSHIP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

Charity information

French Scholarship Foundation is a Charitable Incorporated Organisation (CIO) registered in England and Wales. The principle address is 192 Walm Lane,London,NW2 3BP.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Charity's trust deed, the Charities Act 2011 and "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 Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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 the funds raised for particular restricted purposes.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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FRENCH SCHOLARSHIP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.5 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. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is accounted on an accrual basis and has been classified under headings that aggregate all costs 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 the resources.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

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FRENCH SCHOLARSHIP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 55,635 120,860

4 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 1,566 -
Scholarship Scholarship
2025 2024
£ £
Direct costs
Grant funding of activities (see note 6) 140,453 74,336
Share of support and governance costs (see note 7)
Governance 1,200 1,140
141,653 75,476
Analysis by fund
Unrestricted funds 141,653 75,476

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FRENCH SCHOLARSHIP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

6 Grants payable

Grants to individuals 2025
£
140,453
140,453
2024
£
74,336
74,336

Commitments

The total grants committed in the year was £140,453 (2024: £74,336) of which grants amounting to £140,453 (2024: £74,336) was paid in the year.

7 Support costs allocated to activities

7
Support costs allocated to activities
Governance costs
Analysed between:
Scholarship
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
2025
£
1,200
1,200
2025
£
1,200
2024
£
1,140
1,140
2024
£
1,080

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. None of them received any reimbursements for expenses.

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

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FRENCH SCHOLARSHIP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

11 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Financing costs 30 60

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Creditors: amounts falling due within one year

2025 2024
£ £
Accruals and deferred income 1,201 1,080

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August Incoming Resources At 31 July
2024 resources expended 2025
£ £ £ £
General funds 264,275 57,201 (141,683) 179,793
Previous year: At 1 August Incoming Resources At 31 July
2023 resources expended 2024
£ £ £ £
General funds 218,951 120,860 (75,536) 264,275

15 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

Certificat de réalisation

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État: Complétée

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Suivi du dossier

État: Original 21/05/2026 03:15:03

Événements de signataire

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Titulaire: Jaimin Shah jshah@klsa.net

Signature

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Envoyée: 21/05/2026 03:17:39 Consultée: 21/05/2026 06:52:20 Signée: 21/05/2026 06:54:45

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Accepté: 21/05/2026 06:52:20 ID: 145b484e-4638-4bcd-b48c-f19d98f940f1

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Envoyée: 21/05/2026 06:54:47 Consultée: 21/05/2026 06:54:49 Signée: 21/05/2026 06:55:04

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