THE WELSH SCHOOLS TRUST LTD
REGISTERED CHARITY NUMBER 1167479
COMPANY LIMITED BY GUARANTEE NUMBER 04783466
REPORT AND FINANCIAL STATEMENTS
31 AUGUST 2022

The Welsh School Trust
Registered charity numbtr 1167479
Company limited by guarantee number 04783466
Reference and Administrative Details
Board of Trustees
(Company Directors)
Ms Glenys Roberts (Chair)
Mrs. Ann Baley
Miss Elin Hughes- resigned 12 July 2022
Ms M. Eiri Jones- resigned 12 July 2022
Mrs Angela Robinson
Mr Ceredig Thomas Ivice-chairl
Mr Jonathan Wnght- resigned 12 July 2022
Ms Carole BoY￿- appointed 7 July 2022
Ms Rhiannon Evans- appointed 7 July 2022
Dr Catherine Emmerich - appointed 5 October 2022
Dr Lynne Sykes- appointed 5 October 2022
Teaching staff as at 31 August 2022
Lead Teacher & Class 1 leacher". Mr Tom Sugg
Class 2 teacher and SENDCO.. Miss Lisa Medi Jones
Registered Office
73, Comhill. London EC3V 3QQ
Correspondence address
Hanwell Community Centre, Wescott Crescerbl, London W7 1 PD.
Independent Examiner
Thomas Ward FCA. Lonsdale Ward Limited. 5, Market Yard Mews
194-204 Bemiondsey St￿et. London SE1 3TQ
Insurance Brokers
Hayes Parsons. Colston Tower. Colslon Street, Bristol BS1 4XE
Bankers
HSBC UK

The Welsh Schools Trust Ltd.
Trustees. and Directors. Re ort 3118122
Pur
ose of the chari
The London Welsh School Iysgol Gymraeg Llundainl was established in 1958 by a group of
parenls to provide an education to children beiween the ages of 3 to 11 years old. The school is
an Independent School with charitable status and registered as a company limited by guarantee.
Ils objective 15 to provide childreTr with a bi-lingual educalion in Welsh and English by following the
National Curriculum of Wales. and to nurtu￿ thè ehildren in Ihe best of British values. The school
operates on a non-seleclive basis and admits pupils without reference to ability or aplilude. The
school's Fee Policy includes a dispensation process, so that no family is tumed away on financial
grounds. The Trustees therefore believe that the public benefit objectives of The Charity
Commission's guidance are mel.
Whilst aiming for the highest standards of academic education. the school's ethos is based on
Christian principles, which provides the pupils with a sound moral compass and nurtures the
children in the best of British values. The pupils are encouraged to aim for excellence in every
endeavour, to develop an enquiring mind, and lo acquire a love of leaming and of the Welsh
language.
Achievements and erformance:
The school's academi¢ performance is monitored by three Trustees who are members of the
Curriculum and Standards Sub-committee. The group meets twice a term with the Lead Teacher
lo scrutinise and support the standard of teaching and leaming fmrn Earty Years lo Year 6. 11
monitors pupil attainment and progress. drawing on both formative and sutnmative data. A
summary of this information is provided for the Board's scrutiny. The Board is satisfied with the
results.
The school, as all others, faced a challenging academic year of combining classroom and virtual
teaching during the continuing pandemic lockdowns. On reopening of the schools, adhering lo the
strict Govemmenl protocols, combined wlh the constant vigilance and anxiety of a Covid 19
outbreak brought additional challenges which were well managed by the Staff. They worked
exlremely hard to bridge the achievemenl gap created by last year's disruption to education.
Throughout, the Board has worked diligently to support and advise the Lead Teacher and Staff.
All six annual Board Meetings have taken pla￿ via Zoom webinar.
The long term impact of the pandemic has had an effect on the schix)I this year with pupil
numbers for September 2021 not increasing as expected. due to a range of reasons". limited
marketing, PTFA fund raising OPFK)rtunibes and restn"ctions on njnning the molher and baby group
Miri Mawr, lo narne bul a few. However, the Welsh Schi)ol is resilient and as we plan for the future
we will work to our strengths to Sha￿ our common goal which is to offer our pupils a sound, high
quality bilingual education within a nurturing environment.
The pupils participate in a wide range of extra-curricular activities in London and Wales. These
include attendance al an annual Sl. Daviij's Day Service al The Palace of Weslminsler,
competing at the Urdd National Eisteddfod, and a week's visit in July lo the Urdd's recreational
centre at Llangrannog.

The Welsh Schools Trust Ltd.
Trustees, and Directors. Re
ort 3118122
continued
Financial review..
The school's financial statements acwmpany this report. The Income and Expenditure account
for the financial year to 3118122 resulted in a surplus of £259. This compares with a surplus of
£21,718 for the financial year to 3118121.
The school's total income of £254,391 for the year ending 3118122 is derived from three sources.
380/0 of this income comes from parental fees and the London Borough of Ealing's ILBOEI
conlribution to nursery education. Another 35°/o of the income is derived from a grant received
from the Welsh Government which is subject lo a new application every year. The remaining 270/.
of income arises from donations from inslilulions and private individuals, including the Radnor
Walk and Kings Cross Chapel Trusts, and the fundraising events of the school's Parents
Teachers Friends Association IPTFAI. The Trustee5 recognise that donation and bequest income
is highly volatile and unpredictable. and it cannot be assumed that this level of donation income
can be sustained in future years.
The five principal expense categories that account for 940/0 of the school expenses are staff
salary, pension and training costs. rent for the school building payable to London Borough of
Ealing, educational material. insurance and depreciation of fixed assets.
Management accounts are prepared three limes a year by our accounlanls at the end of each
term, the results of which are compared with a budget. Significant variances are investigated and
explained.
The school has established a Designated Fund in the Balance Sheet of £55.000 lo meet
exceptional costs not normally incurred in the operation of the school or unexpected shortfalls of
income. An example would be a serious fire forcirkg the closure of the 5¢hool building, and the
requirement lo pay a premium for a short lease of an altemative building. The Trustees have
discretion on what type of extraordinary situation would require these Reserves lo be used, but
the authority of all Board members would be required lo release funds from the Designated Fund.
Cash deposits meeting at least the value of the Designated Fund are held in HSBC Money Market
accounts on a term of 3 or 6 months.
Thanks lo donations from Ihe PTFA and Ihe Chapels a modest Diamond Jubilee Bursary Fund
was sel up during 2019120 and added lo during 202012021.This fund is ring fenced from the
School's other funds. 11 has been established to provide financial assistance to pupils or families
in need of support.
Financial outlook for 2022123:
The financial outiook for the academic year 2022123 is not positive because of a drop in pupil
numbers. There is a marketing campaign ongoing lo raise the profile of the school and attract new
families_ Costs are being tightly controlled. Our slrategy for the next couple of years continues to
focus on increasing pupil numbers.
Although pupil numbers have reduced and there has been a reduction in lotsl fee income there
has been no correspondillg decrease in costs. Our major costs are fixed and not dependent on
the number of pupils.
We have been grateful in past years for the generous financial support of Trusts of Radnor Walk
and Kings Cross Chapels, as well as the vigorous fundraising efforts of the school's PTFA None
of this financial support is guaranteed. In addition, the last couple of year's PTFA fundraising
events were curtailed by the Covid 19 pandemic and due lo reduced pupils numbers memt>ership
of the PTFA is reduced. Despite Ihe5e uncertainties we remain ¢onfident that the Trust will
continue lo meet its obligations as they fall due and maintain the very high standards that it has
always required

The Welsh Schools Trust Ltd.
Trustees. and Directors, Re ort 3118122
continued
Structure Govemance and Mana
ement
The Welsh SGhools Trust Ltd. is a company limiied by guarantee and a registered charity. The
charity operates as a school known as The London Welsh School l Y5gol Gymraeg Llundain. The
address of the school is Hanwell Comrnunity Centre. Wescott Crescenl, London W7 1 PD.
The school is regulated by Ofsled and is registered as a charity. The school is also incorporated
as a company limited by guarantee. The affairs of Ihe sGhool are govemed by a Board of
Directors. The Directors of the company are also the Trustees of the charity. A list of names of the
Trustees is provi(ted in the Referènce and Aoministratsve Section above.
Govemance rules slipulale that the Chair of Govemors should serve no more than two terms of
three years and therefore. Mrs Margaret T. Jones stepped down as Chair al the end of the
202012021 academic year and resigned as a Director and Trustee on 1$t December 2021. We
thank her for all her hard work and her lorsg term supr)ort of the school. Her successor is the
previous Vice-chair. N¢iss Glenys Roberts. The Trust welcomes to the Board Rhiannon Evans and
Carole Boyce, who both became trustees on 7m July 2022 and Dr Lynne Sykes and Dr Catherine
Emmerich, who joined the Board subsequent to the Trust's financial year end on 5th October
2022.
Appropriate Iraining is given lo Board members on a regular basis. Board meetings are held twice
a term i.e. six limes a year. Certain dulles are delegated to Board sub-committees which meet on
a more frequent basis. These sub-committees Gompnse of the Curriculum and Standards Sub-
committee, the Finance sUb-￿MmIttee. and the Risk Sub-committee.
The Board maintains a Risk Regisler which covers the key slralegic. reputational, operation81,
regulatory and financial risks of the school. The Risk Register is reviewed annually, with risks
being prioritised appropriately. Controls to miligale the risks are included in the Register.
Appropriate risks are insured wilh Aviva (to 31 August 20221 through brokers Hayes PaTSOnS, a
Bristol based broker specialising in school insurance. The Aviva policy includes employers, liability
cover for £10 milliofj. and Public and Pfoduct liability for £10 million. 8s well as other insur8ble
risks.
Jonathon Wrighl, {up until his resignation on 12 Juty 2022} is the school's Data Protection Officer
IDPOI who reviews General Data Protection Regulations IGDPRI requirefflents and ensures that
the school is compliant. No data bfea¢hes have been detected or reported by the school Sin￿ the
GDPR introduction in May 2018. All sensilive eleclronic school data is sto￿d on the school's
central data server. Paper based sensitive schwl data is appropriately marked 8nd stored
securely in locked filing cabinets.
Information Technology Security is reviewed on a regular basis. All computers al Ihe schtK)I have
anti-virus protection installed (Kasperskyl and are protected with the latest anti-virus definitions
and software. A Sonic Wall firewall Is installed on the schix)I ne1w0￿ to prevent unauthorised
access from the inlernel to school systems.
The school has 8 close relalionship vrilh the Parents Teachers Friends Association IPTFAI which
is open lo all parents, carers and friends to join. It organises fundraising events involving the
school families and the wder local community. The school receives donations from the fund-
raising activities of the PTFA. which is shown as part of the school's donation income. PTFA is
registered as a separate charity.
Trustee report approved on 23rd March 2023 by..
Glenys Roberts {Chairl

Report ofthe Independent Examiner to the Trustees of
The Welsh School Trust Ltd
I report on the accounts of The Welsh School Trust for the year ended 31 sl August 2022, which
comprise the Slalemenl of Financial Aclivilies. the Balance Sheet. Ihe Cash Flow Slalemenl and
the related notes. set out on pages 10 to 13.
This report is made solely to the Charity's Trustees, as a body, in acu)rdance with Chapter 3 of
Part 8 01 the Charities Act 2011. My examination has been undertaken so that I might state to the
Charity's Trustees those malters l am required lo slate to Ihetn in an independent examiner's
report and for no other purpose. To the fullest exlenl pemitted by law, I do not accept or assume
responsibility to anyone olher than the Charity and the Charity's Trustees as a body. for my
examination. for this report. or for the opinions I have formed.
Respective responsibilities of Trustees and Examiner
The Charity's Truslees are responsible for the preparation of the accounts. The Charity s Trustees
consider an audit is not required for Ihis year under section 144121 of the Charities Act 2011 Ilhe
2011 Acll and that an independent examination is needed.
1115 my responsibilty to..
Examine the accounts under section 145 of the 2011 Act.,
To follow the procedures laid down in the General Diredions given by the Charity
Commission under seclion 14515llbl of the Act". and
To stale whether particular matters have come to my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the general Directions given by the Charity
Commissioners. An examination includes a review of the accoLJnting records kept by the Charity
and a comparison of the accounts presented with those records. 11 also includes a consideration
of any unusual items or disclosures in the accounts, and seeking explanations from you as
Trustees conceming any such matters. The procedures undertaken do not provide all the
evidence that would be required in an audrt 8nd consequently I do not express an audit opinion on
the view given by the accounts.
Independent Examiner's Statement
In connection with my examination. no matter has come to my attention..
which gives me reasonable cause to believe that. in any material respect, the requirements..
to keep accounting records in accordan￿ with section 145 of the 2011 Acl-, and
to prepare accounts which accord with the accounting records and comply with the
accoLJnting requirements of the 2011 Act
have not been mel., or
bl
to which, in my opinion, attention should be drawn in order lo enable a proper
understanding of the accounts to be reached
5, Market Yard Mews
194-204 Bermondsey Street
London SE1 3TQ
Thomas Ward FCA
Lonsdale Ward Limited
23rd March 2023

The Welsh Schoo5 Trust
Statement of Financial Activltiés
{Incorporating an Income and Expenditure Account)
For the year ended 31 August 2022
Unrestricted
Funds
2022
Unrestricted
Funds
2021
Notes
Income from-
Donations and legacies
Grant received
Donations
Charitable activities
Parental contribution5
Sundry Income
Investrnenls
sank Interest received
97,445
68.246
109,964
63,644
88,301
141
91.473
907
258
23
Total Income
254.391
266,011
Expènditure on:
Charitable activities
Educational materials
Support costs
8.195
245.937
9.120
235,173
Total Exp•nditure
254.132
244,293
N8t Incfjme
259
21.718
Total Funds Brought Fo￿arly
140,464
118,746
Total Funds Carried Forward at
31 August 2022
140.723
140,464
The statern8nt of financial actwits.es indLMles all gains and losses recrynised in the year.
l incorning resources and resources expended derive from wnts"nuing activitses.
The notes on pages 10 to 13 fom) part of the finanaal siatements.

The Welsh School Trust
Company registration number .' 04783466
Balance Sheet as at 31 August 2022
Nole
2022
2021
Tangible Fixed Assets
1.513
1,488
Current Assets
Cash at bank
Debtors
149,060
1.690
149.255
130
150.750
149,385
Creditors, amounts falling
due within one year
{11.540)
{10,409}
Net Current Assets
139,210
138,976
Net Assets
140.723
140.464
Unrestricted Funds
General funds
Designated funds
61,723
79.000
61.464
79,000
140.723
140.464
The company was entitled to exemption from audit under section 477 of the Companies Act 2006
relating lo small companies. The members have not required the company to obtain an audit of its
accounts for the year ended 31st August 2022 in accordance with section 476 of the Companies
Act 2006. The Directors acknowledge their responsibilities for complying with the requirements of
the Companies Act 2006 wilh respect to accounting ￿￿rdS and the preparation of financial
statements.
The financial slalemenls have been prepared in accordan￿ with the provisions applicable to
small companies subject lo the small companies regime and in accordance with the provisions of
FRS 102 SORP.
Approved by the Board of Trustees on 23rd March 2023
And si
ned on their behalf by=
rvlrs A.E. Robinson
Director
The notes on pages 10 to 13 forrn part of the financial slatemenls.

The Welsh School Trust Ltd
Statement of Cash Flows
Forthe year ending 31 August 2022
Note
2022
2021
Cash flows from operaling actlvitles-
Net cash lusedllprovided by
Operating activities
701
121,2251
Cash flows from investing activities
Interest
Payments to acquire fixed assets
258
(1,1541
23
12,2321
Change in cash and cash equivalents
In the reporting perlod
(195)
123,4341
Cash and cash equlvalents at the start of
the reporting periixl
149.255
172,689
Cash and cash equivalents at the end of
the reporting period
149,060
149,255

10
The Welsh School Trust
Notes to the Financial Statements
For the year ended 31 August 2022
General infomiation
The London Welsh School Iysgol Gymraeg Llundain) is an Independent School with
charitable status and registered as a company limited by guarantee, incorporated in England
and Wales. Ils objective is to provide children with a bi-lingu81 education in Welsh and
English by following the National Curriculum of Wales. and lo nurture the children in the best
of British values. The charity is a public benefit enlty- The address of its registered office is
73, Cornhill, London EC3V 3QQ.
Summary of Significant Accounting Policies
lul
Basis of accounting
These financial statemenls have been prepared in accordan￿ with Accounting and
Reporting by Charities.. Statement of Recommefided Practice applicable to chanlies
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 102), the Charities Act 2011 and the Companies Act
2006.
The financial statements are prepared under the historical cost convention. The principal
accounting policies that have been applied lo all periods presented in these financial
slalements are set out below.
The preparation of financial slalements in conformity with FRS 102 requires the use of
certain critical accounting estimates. It also requires management lo exercjse its judgement
in the process of applying the accounting policies selected for use by the Charity. Use of
available information and application of judgement are inherent in the formation of e5timales.
Aclual outcomes in the future could differ from such estimates.
Ibl
Going concem
Having reviewed the funding facilities available lo the School together with the expected
ongoing demand for places and the School's future projected cash flows, the Trustees have
a reasonable Èxpé¢tation that the School has adequate resources to continue its activities for
the foreseeable future and consider Ihat there wère no material Un￿rtaIntieS over Ihe
School's financial viability. Accordingly, they also conlinue to adopt the going concern basis
in preparing the financial statements.
l¢}
Income recognilion
Al incomir¥J reSoUr￿S a￿ included in the Slalement of Financial Ath'vilies ISOFAI when the
Charity becomes legally enlilled lo the income, it is probable that the income will be received,
and the amount can be quantified with reasonable accuracy.
Income from govemmenl and other grants are recognised when the charity has entitlement
lo the funds, any performance conditions have been mel. il is probable that the income will
be received, and the amount can be measured reliably and is not deferred.
Idl
Expenditure ￿cognItion
Liabilities are reG￿nised as expenditure as soon as there is a legal or constructive obligation
committing the Charity lo that expenditure, it is probable that settlement will be required, and
the amount of the obligation can be measured reliably. All expenditure is charged to the SOFA
on an accruals basis.

The Welsh School Trust Lld
Notes to the Financial Statements
Forthe year ended 31 August 2022
Accounting Policies Icontinuedl
(el
Tangible fixed assets
Tangible fixed assets are slated al cost less accumulaled depreciation and any accumulative
impairment losses. Depreciation is provided on all tangible fixed assets al rates calculated lo
write off the cosl. less any residual value. of each asset evenly over its eslimaled useful life
as follows..
Land and buildings
Equipment
33°A straight line
33% straight line
ifj
Gifts in kind
Gifts in kind are brought into account at their estimated market value al the time the relevant
gifts are made.
Igl
Debtors
School fee and olher debtors are recognised at Ihe settlement amount due less any
impairment losses for bad or doubtful debts.
{h}
Creditors and provisions
Creditors and provisions are recognised where the Schi)ol has a present obligation resulling
from a past event that will probably result in the transfer of funds lo a third party and the
amount due lo settle the obligation can be measured or estimated reliably. Creditors and
provisions are normally recognise(l at their settlement amount after allowing fof any trade
discounts due.
Financial instruments
Basic financial instruments are initially recognised al transaction value and subsequently
measured at amortised cost. Financial assets comprise cash at bank and in hand, together
with trade and other debtors. A specrfic provision is made for debts for which recoverability
is in doubl. Cash at bank and in hand is defined as all cash held in bank accounts and used
as working capital. Financial liabilities held at amortised cost comprise all creditors except
social security and other taxes and provisions.
')
Pensions
Contribution5 to defined contribution plans are expensed in Ihe periods lo which they relate.
Ikl
Fund acix)unting
The general funds of the School represent unrestricted funds expendable al the discretion of
the Trustees in furtherance of the objects of the charity. Designated funds comprise
unrestricted funds which have been sel aside by the Trustees for a specific purpose.
Grants
2022
2021
Welsh Govemmenl
London Borough of Ealing
.000
7.445
90,000
19,964
97.445
109,964

12
The Welsh School Trust Ltd
Notes to the Financial Statements
For the year ended 31 August 2022
Charitable expenditure- support costs
2022
2021
Staff c051s
Property costs
Administrative expenses
193,133
29.964
22.840
183,696
30,277
21,200
245,937
235, 173
Adminislralive expenses include an independent examiner's lee of £60012021 £6001.
5. Salaries
Staff costs
Wages and salaries
Social Security Costs
Pension costs
161.657
10,030
21.446
155,470
7,730
20,496
193.133
183,696
The average number of employees during the year was 8 12021.. 81. engaged in the
management and operation of the seh(M)l.
During the year no employee received emoluments above £60.000 {2021.' Nill.
Key management is considered to be the Trustees. No trustees received any remuneration
or were reimbursed for expenses incurred.
Taxation
The Trust is exempl from corporation lax on ils charitable activities.
Fixed assets
Land and
Buildin
ui
Total
Cost
As at 1st September 2021
Additions
14,000
12,473
1,154
26,473
1,154
At 31 st August 2022
14.000
13.627
27,627
Depreciation
As e11 sl September 2021
Charge for the period
14,000
10,985
1.129
24,985
1,129
A5 al 31st August 2022
Net book value
As at 31 st August 2022
14.000
12,114
26,114
1,513
1.513
As at 31 st August 2021
1,488
1,488

13
The Welsh School Trust Ltd
Notes to the Financial Statements
For the year ended 31 August 2022
Creditors- amounts falling due within one year
2022
2021
Other taxation and social security payable
Accruals
2,190
9.350
2.186
8,223
11,540
10,409
Summary of Funds
General
Funds
Designated
Funds
Total
Funds
A5 al 151 September 2021
Surplus for the year
61.464
259
79.000
140,464
259
At 31st August 2022
61.723
79,000
140,723
All funds are unreslricled. The Trustees have delemiined thal there should be a designated
fund sel aside to meet exceptional costs not nomially incurred in the operation of the schoo1
or unexpected shorttalls of income of £55,000 and a bursaries fund of £24,000 lincluding a
2021 transfer of £10,000) to meet the cost of bursaries in luture years.
10.
Lease commitments
The trust has anr)ual commitments of £27.948 in respect of a lease on its property that has
3 years to run.
11.
Noles to the cash flow statement
Reconciliation of net income lo net cash inflow from operating activilies..
2022
2021
Net income
Bank interest receivable
Depreciation
IlncreasellDecrease in debtors
IncreasellDecreasel in creditors
259
12581
1,129
{1,5601
1.131
21,718
1231
1.105
5.989
(50.0141
Nel cash provided lused) by operating
activities
701
{21.2251