THE WELSH SCHOOLS TRUST LTD
REGISTERED CHARITY NUMBER 1167479
COMPANY LIMITED BY GUARANTEE NUMBER 04783466
REPORT AND FINANCIAL STATEMENTS
31 AUGUST 2024

The Welsh Schools Trust
Registered charity number 1167479
Company limited by guarantee number 04783466
Reference and Administrative Details
Board of Trustees
(Company Directors)
Ms Glenys Roberts (Chair)
Mrs. Ann Batey {resigned 11 June 2024)
Mrs Angela Robinson (resigned 16 July 20241
Mr Ceredig Thomas (Vice-chair)
Ms Carole Boyce
Ms Rhiannon Evans
Dr Catherine Emmerich {resigned 11 June 2024)
Dr Lynne Sykes
Mr David Edwards (appointed 24 September 2024)
Ms Gwendoline Jones (appointed 10 October 20231
Mr Ceri Myers (appointed 24 September 2024)
Ms Beverley Williams {appointed 24 September 2024)
Registered Office
73, Cornhill. London EC3V 3QQ
Correspondence address
Hanwell Communty Centre. Wescott Crescent, London W7 1 PD.
Independent Examiner
Thomas Ward FCA, Lonsdale Ward Limited, 5. Market Yard Mews
194-204 Bennondsey Street, London SE1 3TQ
Insurance Brokers
Hayes Parsons, Colston Tower. Colston Street, Bristol BS14XE
Bankers
HSBC UK

The Welsh Schools Trust Ltd.
Trustees, and Directors, Re
rt 3118124
Pur
ose of the cha .
The London Welsh School (Ysgol Gymraeg Llundain) was established in 1958 by a group of
parents to provide an education for children between the ages of 3 and 11yrs. The school is an
Independent School with charitable status and registered as a company limited by guarantee. Its
objective is to provide children with a bi-lingual education in Welsh and English by following the
National Curriculum of Wales. The school operates on a non-selective basis and admits pupils
without reference to ability or aptitude. The ￿hOol'S Fee Policy includes a dispensation process,
so that no child is turned away on financial grounds. The Trustees therefore believe that the public
benefit objectives of The Charity Commission's guidance are met.
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
pupils in the best of British values. The pupils are encouraged to aim for excellence in every
endeavour, to develop an enquiring mind, and to acquire a love of learning and of the Welsh
language and culture.
Achievements and rforniance:
The school's academic perf0m￿nCe is monitored by three Trustees who are members of the
Curriculum and Stsndards SU￿rnm1ttee. The group meets twice a term with the Headteacher to
scrutinise and support the standard of teaching and leaming from Early Years to Year 6. It
monitors pupil attainment and progress. drawing on both fomative and summative data. A
summary of this information is provided for the Board's scrutiny. The Board is satisfied with the
results.
Our experienced staff ensure that the school maintains a high standard of education and offers a
wide range of learning opportunities to our pupils both during the school day and as extra
curricular, after school activities. The Board re￿iVeS a temty Lead Teacherfs Report updating us
with developments and continues to work diligently to support and advise the Headteacher and
Staff. Regular meetings are held between the Chair of Directors and the Headteacher in which
the Headteacher is held to account and matters such as CPD of stsff, resourcing and marketing
are discussed.
The school continues to struggle with attracting new pupils and numbers on roll have not returned
to pre-pandemic levels. One teacher was made redundant during the academic year and the
workload was distributed among the remaining teachers.
The Welsh School is resilient and as we plan for the future we will work to our strengths to share
our common goal which is to offer our pupils a sound, high quality bilingual education within a
nurturing environment. We were awarded GOOD in our Otsted inspection in January 2023 which
is testimony to our hard work and ￿SI11enCe.
The pupils participate in a wide range of extra-curricular activities in London and Wales. These
include participating in the annual St. David's Day Service at The Palace of Westminster,
competing at the Urdd National Eisteddfod and, at the end of the Summer Term, a three day visit
to the Urdd's recreational centre at Llangrannog, to name but a few. Otsted has commended our
Personal Development provision as outstanding.

The Welsh Schools Trust Ltd.
Trustees. and Directors, Re
ort 3118124
continued
Financial review:
The school's financial statements aC￿MpanY this report. The Income and Expenditure account
for the financial year to 3118124 resulted in a shortfall of £54,156. This compares with a shortfall of
£13,965 for the financial year to 3118123.
The school's total income of £217,430 for the year ending 3118124 is derived from three sources.
160/0 of this income comes from parental fees and the London Borough of Ealing's {LBoEI
contribution to nursery education. Another 46 /0 of the income is derived from a grant received
from the Welsh Govemment which is subject to a new application every year. The remaining 380/0
of income arises from donations from institutions and private individuals, including the Radnor
Walk and Kings Cross Chapel Trusts, and the fundraising events of the school's Parents
Teachers Friends Association {PTFA). The Trustees 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 890/0 of the school expenses are staff
salary, pension and training costs, rent for Ihe school building payable to London Borough of
Ealing, educational material, insurance and depreciation of fixed assets.
Management accounts are prepared three times a year by our accountants at the end of each
term, the results of which are compared with a budget. Significant variances are investigated and
explained.
The Designated Fund in the Balance Sheet of £55,000 which was established to meet exceptional
costs not normally incurred in the operation ofthe school or unexpected shortfalls of income is being
reversed and the funds reallocated to the General Funds.
Thanks to donations from the PTFA and the Chapels a modest Diamond Jubilee Bursary Fund was
set up during 2019120 and added to during 202012021.This fund was utilised during the year lo meet
costs inCu￿ed that were not covered by parental fees.
Financial outlook for 2024125 and 2025126:
The financial outlook for the academic year 2024125 remains challenging due to a number of
factors:
pupil numbers have not recovered over the period since the Covid-19 pandemic reducing
the total fee income. There is a continuing campaign to raise the profile of the school and
attract new families and this is the major focus of the school's strategy over the next 2 -3
years.
grant funding provided by the Welsh Govemment which is subjecl to an annual
application was renewed for academic year 2024125 and is the subject of ongoing
discussions for the academic year 2025-26.
Increases in expenses continue to exceed income generated even though costs are
tightly Gontrolled. 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.
Pupil numbers have remained consistent and the chapels have continued to provide support for the
academic year ended 31 August 2024. To secure the future of the school beyond the academic
year ended 31 August 2025, the Trustees continue discussions with Welsh Government officials
and are exploring other longer term funding options.

The Welsh Schools Trust Ltd.
Trustees, and Directors, Re
ort 3118124
continued
Structure Govemance and Mana
ement
The Welsh Schools Trust Ltd. is a company limited by guarantee and a registered charity. The
charity operates as a school known as The London Welsh School l Ysgol Gymraeg Llundain. The
address of the school is Hanwell Community Centre, Wescotl Crescent, London W7 1 PD.
The school is regulated by Ofsted and is registered as a charity. The school is also incorporated as
a company limited by guarantee. The affairs of the school 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 provided in Ihe Reference and Administrative Section above.
Appropriate training is given to Board members on a regular basis. Board meetings are held twice
a temi i.e. six times a year. Certain duties are delegated to Board sub-committees which meet on
a more frequent basis. These sub-committees comprise of the Curriculum and Standards Sub-
committee. the Finance Sub-committee, and the Risk Sub-committee.
The Board maintains a Risk Register which covers the key strategic, reputational. operational,
regulatory and finanGial risks of the school. The Risk Register is reviewed annually. with risks being
prioritised appropriately. Controls to mitigate the risks are induded in the Register.
Appropriate risks are insured with Ecclesiastical through brokers Hayes Parsons. a Bristol based
broker specialising in school insurance. The Ecclesiastical policy includes employers, liability cover
for £10 million, and PubliG and Product liability for £10 million. as well as other insurable risks.
We employ Solomon Belay as the school's Data Protection Officer {DPO) who reviews General
Data Protection Regulations (GDPR) requirements and ensures that the school is compliant. No
data breaches have bean detected or reported by the school since the GDPR introduction in May
2018. All sensitive electronic school data is stored on the school's central data server. Paper based
sensitive school data is appropriately marked and stored securely in locked filing Gabinets.
Information Technology Security is reviewed on a regular basis by Solomon Belay. All computers
at the school have anti-virus protection installed (Sophos Intercept) and are protected with the latest
anti-virus definitions and software. A Sonic Wall firewall is instslled on the school network to prevent
unauthorised access from the intemet to school systems.
The school has a close relationship with the Parents Teachers Friends Association (PTFAI which
is open to all parents, carers and friends to join. It organises fundraising events involving the SGhool
families, the wider local community and supporters from Wales. 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 by".
Glenys Roberts (Chair)
131h May 2025

Report of the Independent Examiner to the Trustees of
The Welsh Schools Trust Ltd
I report on the accounts of The Welsh School Trust for the year ended 31 st August 2024, which
comprise the Statement of Financial Activities. the Balance Sheet. the Cash Flow Statement 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 accordance with Chapter 3 of Part
8 of the Charities Act 2011. My examination has been undertaken so that I might state to the
Charity's Trustees those matters l am required to state to them in an independent examiner's report
and for no other purpose. To the fullest extent permitted by law. I do not accept or assume
responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my
examination, for this report, or for the opinions I have fomied.
Respective responsibilities of Trustees and Examiner
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees
consider an audit is not required for this year under section 144{21 of the Charities Act 2011 (the
2011 Act) and that an independent examination is needed.
It is my responsibility to..
Examine the accounts under section 145 of the 2011 Act.,
To follow the prO￿d￿reS laid down in the General Directions given by the Charity
Commission under section 145(5)(b) of the Act-, and
To stste whether particular matters have come to my attention.
Basis of Independent Examinerfs Report
My examination was carried out in accordance with the general Direclions given by the Charity
Commissioners. An examination includes a review of the accounting records kept by the Charity
and a comparison ofthe 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 eviden￿ that
would be required in an audit and Consequently I do not express an audit opinion on the view given
by the accounts.
Independent Examinerfs Statement
In connection with my examination. no matter has come lo my attention which gives me reasonable
cause to believe that, in any material respect, the requirements:
to keep accounting records in accordance with section 145 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the
accounting requirements of the 2011 Act
have not been met.
I draw your attention to notes 2a and 2b that outline the uncertain status of the school beyond the
completion of Ihe summer term in 2025 and the basis of preparation of the accounts that takes
this into account.
5, Market Yard Mews
194-204 Bermondsey Street
London SE1 3TQ
Thomas Ward FCA
Lonsdale Ward Limited
13th May 2025

The Welsh Schools Trust
Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
For the year ended 31 August 2024
Unrestricted
Funds
2024
Unrestricted
Funds
2023
Notes
Income from:
Donations and legacies
Grants received
Donations
Charitable activities
Parental contributions
Sundry income
Investments
Bank interest ￿ceiVed
100,703
78.139
97.312
89.640
34.649
232
43.747
362
3.708
3.270
Totsl Income
217,431
234,331
Expenditure on-
Charitsble aclivrties
Educational materials
Support costs
6.494
265.092
9,943
238.351
Total Expendlture
271.586
248.294
Excess of expenditure over income
(54,155)
{13,963)
Tolal Funds Brought Forward
126.760
140.723
Total Funds Carried Fonvard at
31 August 2024
72.605
126.760
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 10 to 13 fomi part of the financtal statements.

The Welsh Schools Trust
Company registration number . 04783466
Balance Sheet as at 31 August 2024
Note
2024
2023
Tangible Fixed Assets
1.038
1,934
Current Assets
Cash at bank
Debtors
79,051
124,631
6,308
79.051
130,939
Creditors, amounts falling
due within one year
(7,484)
(6,113)
Net Current Assets
71.567
124,826
Net Assets
£ 72,605
£126,760
Unrestricted Funds
General funds
Designated funds
72.605
47,760
79,000
£ 72,605
£126,760
The company was entitled to exemption from audit under section 477 of the Companies Act 2006
relating to small companies. The members have not required the company to obtain an audit of its
accounts for the year ended 31st August 2024 in accordance with seclion 476 of the Companies Act
2006. The Directors acknowtedge their responsibilities for complying with the requiraments of the
Companies Act 2006 wtth respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to small
companies subject to Ihe small companies regime and in accordance with the provisions of FRS
102 SORP.
Approved by the Board of Twstees on 13th May 2025
And signed on their behalf by=
Glenys Roberts (Chair)
Director
The notes on pages 10 to 13 fomi part of the financial statements.

The Welsh Schools Trust Ltd
Statement of Cash Flows
For the year ending 31 August 2024
Note
2024
2023
Cash flows from operating activities:
Net cash (used)Iprovided by
Operating activities
Cash flows from investing activlties
Interest
Payments to acquire fixed assets
{49,288)
(26,150)
3,708
3,270
{1,549}
Change in cash and cash equivalents
In the reporting period
(45,580)
{24,429)
Cash and cash equivalents at the start of
the reporting period
124.631
149,060
Cash and cash equivalents at the end of
the reporting period
£ 79,051
£ 124.631

10
The Welsh School Trusts
Notes to the Financial Statements
For the year ended 31 August 2024
General infomiatlon
The London Welsh School (Ysgol Gymraeg Llundain) is an Independent School with
charitable status and registered as a company limited by guarantee, inGorporated in England
and Wales. Its objective is to provide children with a bi-lingual education in Welsh and
English by following the National Curriculum of Wales, and to nurture the children in the best
of British values. The tharity is a public benefit entity. The address of its registered office is
73, Comhill. London EC3V 3QQ.
Summary of Significant Accounting Policies
{al
Basis of accounting
These financial statements have been prepared in accordance with 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). 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 to all periods presented in these financial
statements are set out below.
The preparation of financial statements in Gonfomiity wilh FRS 102 requires the use of certain
critical accounting estimates. It also requires management to exercise 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 fomiation of estimates. Actual
outcomes in the future could differ from such estimates.
Ib) Going concem
There are material uncertainties over whether the school will have adequate resources to
enable it to conlinue after the completion of the summer term in 2025. The Trustees have
adopted Ihe going concem basis for preparing these accounts whiGh assumes that the school
will continue for at least 12 months from the date these accounts are approved by Ihe board.
In the opinion of the Trustees any adjustments to these accounts in the event that the school
was required to close would not be material.
Ic) Income recognition
All incoming resources are included in the Statement of Financial Activities (SOFA) when the
Charity becomes legally entitled to the income, it is probable that the income will be received,
and the amount can be quantified with reasonable accuracy.
Income from govemment and other grants are recognised when the charity has entitlement to
the funds. any perfomiance conditions have been met. it is probable that the income will be
received, and the amount can be measured reliably and is not deferred.
(d) Expenditure recognition
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 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 Schools Trust Ltd
Notes to the Financial Statements
For the year ended 31 August 2024
Accounting Pollcles {continued}
{e) Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulative
impairmenl losses. Depreciation is provided on all tangible fixed assets at rates calculated to
write off the cost, less any residual value, of each asset evenly over its estimated useful life as
follows:
Land and buildings
Equipment
33 /0 straight line
33°/o Straighl line
Gffts in kind
Gifts in kind are brought into account at their estimated market value at the time the relevant
gifts are made.
(g) Debtors
School fee and other debtors are reccgnised at the settlement amount due less any impaimient
losses for bad or doubtrul debts.
(h) Creditors and provisions
Creditors and provisions are recognised where the School has a present obligation resulting
from a past evenl 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 and provisions
are normally recognised at Iheir settlement amount after allowing for any trade discounts due.
Financial instruments
Basic financial instruments are initially recognised at transaction value and subsequently
measured at amortised cost. Financial assets comprise cash at bank and in hand, together
with trade and other debtors. A specific provision is made for debts for which reGoverability
is in doubt. 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.
ti)
Pensions
Contributions to defined contribution plans are expensed in the periods to which they relate.
(kl Fund accounting
The general funds of the School represent unrestricted funds expendable at the discretion of
the Trustees in furtherance of the objects of the charity. Designated funds comprise
unrestricted funds which have been set aside by the Trustees for a specific purpose.
Grants
2024
2023
Welsh Govemment
London Borough of Ealing
Other local authorities
90,000
8,403
2,300
93,360
3,952
100,703
97,312

12
The Welsh Schools Trust Ltd
Notes to the Financial Statements
For the year ended 31 August 2024
Charltable expenditure - support ¢osts
2024
2023
Staff costs
Propety costs
Administrative expenses
201,899
28,601
34,592
177,584
28,279
32,488
265,092
238,351
Administrative expenses include an independent examiner's fee of £690 (2023 - £660).
5. Salaries
Staff costs
Wages and salartes
Social Security Costs
Pension cosls
170,551
9,178
22,170
148,989
8,627
19,968
201.899
177,584
The average number of employees during the year was 6 (2023: 6), engaged in the
management and operation of the school.
During the year no employee received emoluments above £60,000 (2023: Nil).
Key management is considered to be the Trustees. No trustees re￿iVed any remuneration
or were reimbursed for expenses incurred.
Taxation
The Trust is exempt from COTporation tax on tts charitable aGtivities.
Fixed assets
Land and
Buildin
Total
Cost
As at 1 st September 2023
Additions
14,000
15,176
29,176
At 31st August 2024
14,000
15.176
29,176
Depreaation
As at 1st September 2023
Charge for the period
14.000
13,242
896
27,242
896
As 8131 st August 2024
Net book value
As at 31st August 2024
14.000
14,138
28,138
1,038
1,038
As at 31st August 2023
1,934
1.934

13
The Welsh Schools Trust Ltd
Notes to the Financial Statements
For the year ended 31 August 2024
Creditors- amounts falllng due within one year
2024
2023
Other taxation and social security payable
Accruals
2.812
4,672
2,387
3,727
7,484
6,114
Summary of Funds
General
Funds
Designated
Funds
Total
Funds
As at 1st September 2023
Deficit for the year
Transfer from Designated Fund
47,760
(54,155)
79,000
79,000
126,760
(54,155)
79,000
At 31st August 2024
72,605
72,605
All funds are unrestricted. Designated Funds previously reported that represented funds set
aside to meet unexpected shortfalls and bursaries have been utilised in the current year.
Lease commitments
10.
The trust has annual commitments of £27.948 in respect of a lease on its propety that has
one year to run.
11.
Notes to the cash flow statement
Reconciliation of net income to net cash inflow from operating activrties:
2024
2023
Net (expenditure)lincome
Bank interest receivable
Deprecialion
{IncreaseyDecrease in debtors
Increasel{Decrease) in creditors
(54,155)
(3,708)
896
6,308
1,371
(13.963)
(3,270)
1,128
(4,618)
{5,427)
Net cash provided (used) by operating
activities
(49,288)
{26,150)