Charity registration number 1176270 HOTEL SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HOTEL SCHOOL LEGAL AND ADMINISTRATIVE INFORMATION Tru$ts9S J Goring R Flinter J Levin R Casey Cripps Trust Corporation Limited Charity nurnber 1176270 Registered office The Goring Hotel 15 Beeston Place London SW1W OJW Independent examiner Stephen Meredith Alliotts LLP 3 London Square Cross Lanes Guildford Surrey GU1 1UJ
HOTEL SCHOOL CONTENTS Pagg Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 8-15
HOTEL SCHOOL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Welcome lo our Annual Report. This year, Hotel School has been a beacon of transformation and hope, witnessing extraordinary progress thanks lo the dedication and resilience of our students. The journeys documented within these pages highlight the profound changes our participants have achieved, underscoring the remarkable impact of support and determination on individuals faang homelessness. Each story is a testamenl to the power of the right resources and encouragement, illustrating that real and lasting change is not only possible but actively occurring every day. The demand for our services remains as pressing as ever. The support for Hotel School is deeply appreciated every act of advocacy and contribution directly f051ers life-changing outcomes. We are honoured to share that Hotel School has been recognised as one of Big Issue's Top 100 Changemakers for 2024. This accolade is a shared achievement with our partners and supporters. As we move forward, we are excited lo continue this mission together, striving lo make a positive and enduring impact. The financial stslemenls have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and Comply with the ¢harily's governing document. the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended practi applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20191. ObJgCtlvos and actlvlllgs Charity Objectives The objects of the charity are lo relieve the charitable needs of people who are homeless or who are al risk of homelessness or are in financial hardship through education and training in hospitality skills and support lo get such people into rewarding ftjll lime wort( in the hospitality sector and lo maintain their employment in suitable jobs. Hotel School achieves ils objects by leaching hospilalily skills lo homeless and vulnerable people, matching them lo Sustainable employment, and supporting them in their first steps into work. publ benefit The trustees have paid due regard to guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake. Cohorts 17. 18 & 19 This year, Hotel School proudly completed Cohorts 17, 18, and 19 with 36 students graduating in total. Notably, Cohort 18 marked a significant milestone as the largest cohort lo graduate lo dale, with 14 students suc¢essftJlly completing the programme. This achievement re¢t$ the growing reach and effectiveness of our training. Overall Outcomes: Three cohorts of intensive 10-week training cohorts were delivered, each designed lo equip students with vil81 skills and confidence. Ten taster sessions were held both on and off-site, consistenUy achIng full capacity and providing students with hands-on èxperience in varied sellings. 90% of students successfully graduated from the 1 (>week programme, demonslraling the programme's high effectiveness. 100°A of graduates moved into the Employment & Progression phase of our support offer, reflecting the programme's ability to prepare students for the next steps in their careers. 70°A of graduates have secured employment in the hospitality sector. The remaining graduates have pursued further training andlor volunteering opportunities, showcasing the diverse paths our programme supports. 1000A of graduates reported increased confidence and fell better prepared lo enter the workforce following graduation.
HOTEL SCHOOL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Blg Issue Top 100 ChangeMakeI We sre thrillèd lo have been namèd one of the Big Issue Top 100 Changemakers for 2024. This prestigious recognition celebrates individuals and organisalions that are making significant improvements in the world. Our inclusion on this list is a leslament to the hard work and dedication of everyone involved in Hotel School, from our team to our supporters. We are proud lo share this honour and remain ¢ommrtted to driving positive change. Tralnlng N9ws from thg Classroom Customer Service Deep-Dive.' Volunteer Billie Bames introduced a new theory session tiued "Customer Service.. Exceeding Expectations the Easy Way." This session provided students with practical tools to enhance guest experiences through simple, effedive actions. Sequence of SeNi¢e Session- Claire Pager, Director of Food and Beverage al Sl Martins Lane Hotel, facililaled a practical role-play exercise focusing on restaurant service. This session helped students practi and refine their service skills. Mock Int8rvi&ws with S8arcys'. Students participated in mock interviews al various Searcys venues. These sessions. led by the Human Resources team, provided valuable feedback and guidance, helping students prepare for real-worfd hospitality careers. Table Set-up.. Etienne Harding, Assistant Restaurant Manager al The Goring, led a practical session on table setting. This was his first time leading a session independently, and his experience and InsilS were invaluable to the students. Employment and Progresslon 1-Y&ar Employment Anniv8rsaries.' We are proud to lebrate ten fantastic milestones where 10 of our graduates have marked their first year of employment. These achievements highlight the sustained imp3cI of our programs. 2-Year Employment Anniversary.. Rasheed, a graduate from Cohort 11, rentlY celebrated his 2-year employment anniversary. Femanda Lews, Executive Head Housekeeper al The Goring, commended Rasheed's dedication and resilience, noting how he has become an integral part of their team. This milestone is 8 leslamenl to Rasheèd's hard work and the ongoing support from Hotel School. Fellx's Journ&y to a Car&&r In Hospltsllty Felix joined Hotel School in May 2023 as part of Cohort 16. Initially shy and struggling with engagement. Felix's confidence grew significantly through his work experiences. His first placement at The Holiday Inn Express Soulhwark and a subsequent position al The Goring led to him being offered a Runner position, which he has since secured as a permanent part-time role. Felix's joumey Illustrates the transformab.ve power of the program and our continued support. Employer Partner & Hospltallty Hlghllghts Our graduates have secured rewarding roles across London's hospitality sector. This year. students visited several new establishments, inclLJding The Athenaeum. DUKES in St. James, and The Ned. These visits provided valuable insights into different aspects of the hospitality industry. The ongoing support from our Employer Partners is vital, and we continue lo show our appreciation through personal deliveries of our trademark sweet treats. The After School Club.. Celebrating Our Employer Partners In late 2023 and early 2024, we hosted our first evening cooking class, The After School Club, lo thank our Employer Partners. Led by Graduate Sanobar (Cohort 101, allendees were introduced lo Uzbek cuisine a)d had the opportunity to ¢onnect with other Hotel School champions. We look fOrnard lo hosting more of these events and invite everyone to join us in ftjlure *ssions.
HOTEL SCHOOL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Work Experfence Champlon Ekatorina. Head Chaf at Allpress 'My experien working with Hotel School has been truly inspirationall Il's an amazing project for such an important cause, and l am proud lo be part of it. Working with Victoria and Thiery has been educational and rewarding. 11 has been incredible to see their personal and professional progress. They not only leamed their way ar(nd a professional kitchen bul also how to be part of a trustworthy and cooperative team. Together, we overcame challenges with solid communication and mutual respect. The experience has been impactful for all involved, and we would love lo continue collaborating wth Hotel School. A special thanks to Dana for her dedication and humanity working wfch you has been a pleasurel. Special Thanks to Westminster Kingsway College We continue to be incredibly grateful for the support and partnership with Westrninster Kingsway Cdlege and their team. Our programmes and delivery have been greatly enhanced by being al their beautiful Victoria Centre on vInt Squaie. The new, larger classroom ha5 enabled u5 to reach more people through Hotel School programs. We have also collaborated with their Mayor of London s Skills Academy programme, referring graduates to short courses where additional hospilalily skills can be gained. Thank you for your continued support. Our Fantastic Sponsors and Partnars Hospitality Industry Supporters Since opening Hotel School, we have been amazed by the generosty of those in our wide-ranging sector. Hundreds of hospitality professionals from various businesses have contributed their lime, energy, and care. INhelher providing work experience, teaching, or material support, their help has been endless and generous. Teachlng & Tralnlng Partners Asma Khan, The Broathick Soho Hotel, Intercontinental Hotels Group, Hospitality Action, Hop Training, The Goring, The Ritz, The RosewoDd London, Extract Coffee Roasters, Ruby BhDgal, Will Greenwood OBE, Mary Berry, Nathan Outlaw, John Williams MBE, Chris Galvin, Well Kneaded, and others. Main Sponsors The Savoy Educational Trust, Alastsir Storey, The Goring, The Northbank BID, Victoria BID, Victoria Vveslminster BID, Whitehall BID. Westminster Community Contribution Fund, AlixPartners, The AKO Foundation, Lord Forte Foundation, Searcys, 31 Group, The Abert Hunt Trust, West London Hotel Managers Associalion, Extract Coffee Roasters, and others Referral Organisations Beyond Food Foundation, Centre Point, Connection Sl Martin in The FielLY, Crisis, Groundwork London, Refugee Council, Sl Mungos, Thames Reach, Well Grounded, Weslminsler Employment Service, Catch 22, Evolve Hwsing, LookAhead Housing, SLAM, Sporting Recovery, Revoke, Luminary Bakery, Migrateful, and others. Employer Partners Allpress Coffee Roasters, Carousel Restaurant, Café Van Gogh, Conrad St James London, DUKES LONDON, Fat Macy's, GAIL'S, Holiday Inn Express Soulhwark, Holiday Inn Camden Lock, Inlerconlinental Park Lane, Mondrian Shoredilch, Nobu Portman Square, One Great George Street, Park Plaza London Waterloo & Victoria, Pret A Manger, Searcys Inner Temple, Allen & Overy, One Moorgale Place, 30 Euslon Square, The IET, Sl Martins Lane, St Pancras By Searcys, Trampoline, The Athenaeum Club, The Bioadwick Soho, The Goring, The Jones Family Kitchen, The London EDITION, The Ned, The Rosewood London, The Weslin London City, Yolel, and others. Thank you to everyone who has supported Hotel School this year. Together, we are making a significant difference in the lives of those who need it most.
HOTEL SCHOOL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial raview The Statement of Financial Activities shows lotsl income of £294,838 12023". £172,418) for this ye*, with total expenditure of £227,081 12023." £165,978), leaving £100,76212023'. £33,005) of funds carried fornard a131 March 2024. Of which, £17,781 were restricted. Reserves Pollcy No reserves policy has been developed al this stsge of development of the charity. Free reserves, represented by unrestricted funds, were £82,981 12023.. £32,179) al the year end. Risk Managament The Iruslees have assessed the major risks to which the charity is exposed, and are satisfied that systerns are in place to mitigate exposure lo the major risks. structure. governance and management The Charity was established by trust deed and registered as a charity with the Charity Commis&on of England and Wales on 13 December 20171 registered number 11782701. The trustees who served during the year and up lo the dale of signature of the financial slalements were.. J Goring R Flinter G Booth R Duslon Mr J Levin Cripps Trust Corporation Limited Recrultment and appolntment of trustees The initial Iruslees sel up the charity and have recruited new trustees with a broad range of skills lo support and grow the charity. The board of trustees meet two or three times a year fomially Trustee Induction and Training New trustees partiupate in an initial induction with existing trustees and the programme manager, covering the operation of the charity. Appropriate training is encouraged for all trustees. The trustees, report was approved by the Board of Trustees. J Goring Trusteg Date.. 2810112025
HOTEL SCHOOL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOTEL SCHOOL I report to the trustees on my examination of the financial slalements of Hotel School Ilhe charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial slalements in a¢¢ordan¢e with the requirements of the Charities Act 2011 Ilhe 2011 Act}. 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 14515llbl of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. l confirm that l am qualified lo undertake the examination because l am a member of ICAEW, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial slalements in accordarte with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the A¢¢ounling and Reporting by Charities.. Stslemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the extsnl regulations bul has now been withdrawn. l understand that this has been done in order for financial statements lo provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statements do not accord with those records,. or the financial slalements do not comply wth the applicable requirements ConmiNg the form and content of accounts set out In the Charities (Accounts and Reportsl 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. I have no concems and have come 8¢ross no other matters in connection with the examination to which 8ttenlion should be drawn in this report in order lo enable a proper understanding of the financial slalemenls lo be reached. Stephen Meredith FCA DChA Alliotts LLP One Ground Floor 3 London Square Cross Lanes Guildford Surrey GU1 1UJ Dated.. 2810112025
HOTEL SCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Totsl 2024 2023 Notes In¢om9 from: Donations and legacies 57,838 237,000 294,838 172,418 172,418 Totsl In¢omg 57,838 237,000 294.838 172,418 172,418 Expendltur& on: Raising funds Charitable activities 10,500 209,545 10,500 216,581 876 153,054 876 165,102 7,036 12,048 Total expenditure 7,036 220,045 227,081 153,930 12,048 165,978 Ngt incom8 and movement in funds 50,802 16,955 67,757 18,488 112,0481 6,440 Reconciliation of funds: Fund balances al 1 April 2023 32,179 826 33,005 13,691 12,874 26,565 Fund balances at 31 March 2024 82,981 17,781 100,762 32,179 826 33,005 The statement of finanaal activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
HOTEL SCHOOL BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Curr&nt assets Debtors Cash at bank and in hand 11 500 39,565 108,410 108,410 40,065 cdItors. amounts falllng due wlthln one year 12 17,6481 17,0601 Net current assets 100,762 33,005 The funds of the charlty Restricted income funds Unrestricted funds 14 15 17,781 82,981 826 32,179 100,762 33,005 The financial stslements were approved by the trustees on ..281.Q112Q25... J Goring Tru$t99
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Charity infomiation Hotel School is an unincorporated entity registered with the Charity Commission Ino. 11762701. The prinrypal office is The Goring Hotel, 15 Beeston Place, London, England, SW1 W OJW. 1.1 Accountlng conventlon The financial statements have been prepared in accordance wlh the charity's governing document, the Charities Act 2011 and 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo chaiilies preparing their accounts In accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Upd* Bulletin 1 not to prepare a Statement of Cash Flows. The finanaal 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 Practi which is referred lo in the Regulations but which has since been withdrawn. The financial statements are prepared in sterfing, 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 Golng concern Al the lime of approving the financial stslemenls, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable futurè. Thus the trustees continue to adopt the going concern basis of ac¢ounling in preparing the financial stalemenls. 1.3 Charltable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted ftjnds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to il after any pèrformance conditions have been mel, the amounts can be measured reliably, and il 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 perfomiance conditions require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Where services or goods are provided lo the charity as a donation that would normally be purchased from suppliers, the Contribution is induded in the financial slalemenls as both income and expenditure al its eslimaled fair value based on the value of the contribution to the charity. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, il is probable that settlement wll be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged against the expenditure heading lor which it was incurred.
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounllng poll¢lg$ Icontlnugdl Governan costs comprise amounts payable for the administration of the charity. I support costs are allocated to the charity's only charitable activity. 1.6 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. 1.7 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the conlraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo sellle on a net basis or to realise the asset and setue the liability simLJltaneously. Basic financial assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price Including transaction costs and are subsequently carried al amortised cost using the effectivè interest method unless the arrangement Conslilules a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial lialjilities Basic financial liabilities. including creditors and bank loans are initially recDgnised 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 al a market rale of interest. Financial liabilities classified as payable thin one year are not amortised. Debt instruments are subsequenUy earned 81 amortised cost, using the effective Intèrest rale method. Trade creditors are obligations to pay for goods or seNices 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 subsequenuy 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. 1.8 Employee benefits The cost of any unused holiday enliuement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.9 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the Iruslees 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 eslimales and associated assumptions are based on historical experience and other factors that are ¢onsidered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Donated goods and servicès Other 42,928 237,000 279,928 169,418 169,418 3,150 11,760 3,150 11,760 3,000 3,000 57,838 237,000 294,838 172,418 172,418 Expendlturg on ralslng fund$ Unrestrlcted Restrlcled funds funds 2024 2024 Total Unre$trl¢ted Restrlcted funds funds 2023 2023 Totsl 2024 2023 Fundraising and publicity Advertising 10,500 10.500 876 876 10-
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charltsble actlvltles 2024 2023 Direct costs Staff costs Training course development and materials Student travel Student welfare Volunteer expenses Event Costs 156,556 24,007 12,885 8,839 721 114,088 21,909 9,009 7,467 474 1,756 203,008 154,703 Share of support and governance costs Isee note 61 Support Governance 6,823 6,750 4,399 6,000 216,581 165,102 Analysis by fund Unrestricted funds Restricted funds 7,036 209,545 153.054 12,048 218,581 165,102 Support costs allocated to activities 2024 2023 Office stationery Cleaning supplies Telephone Insurance Bank charges Governance 1,847 1,901 2,606 157 312 6,750 1,963 921 1,256 11431 402 6,000 13,573 10,399 2024 2023 Governance costs comprfse.. Accountancy and Independent Examination 6,750 6,000 6,750 6,000 Accountancy and Independent Examination fees include Independent Examination fees of £3,150 12023.. £3,000).
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement In funds 2024 2023 The nel movement in funds is slated after chargingllcredilingl.. Fees payable for the independent examination of the charity's financial statements 6,750 6,000 Trustees None of the trustees lor any persons connected with them) ceiVed any muneratIon or benefits from the charity during the year. Employees The average monthly number of employees during the year was.. 2024 Numbar 2023 Number Training programme stsff Employment costs 2024 2023 dges and salaries Social security costs Other pension costs 143,187 9,739 3,630 105,148 6,191 2,749 156,556 114,088 There were no employees whose annual remuneration was more than £60,000. 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11 Debtors 2024 2023 Amounts falling due within one year: Other debtors 500 12-
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Credltors: amounts falllng due wlthln one year 2024 2023 Other taxation and social security Trade creditors Other creditors Accruals and deferred Income 3,865 16 767 3,000 2,762 751 547 3,000 7,648 7,060 13 Retirement beneftt schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined Contribution schemes 3,630 2,749 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charty in an independently administered fund. 14 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as lo how they may be used. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 Savoy Educational Ttusl Northbank BID Victoria BID Lord Forte Foundation Westminster Community Contribution Fund The Albert Hunt Ttusl Edward Hatvisl West London Hotel Managers Association 826 126,500 20,000 40,000 15,000 25.000 7,000 1,000 2,500 1127,3261 114,5001 127,7191 115,0001 125.0001 17,0001 11,0001 12,5001 5,500 12,281 826 237,000 1220,0451 17,781 Previous year: At 1 April 2022 Incoming resources Resources At 31 March expended 2023 12,874 112,0481 826 13-
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Rg$trl¢led fund$ Icontlnugdl The above funds are subject to the folloring restrictions Savoy Educational Trust for hospitality training programmes BID (Northbank and Viclorial for hospitality training programmes Lord Forte Foundation for employment, travel and office costs of training Weslminsler Community Contribution Fund for trainer and coach employment costs The Albert Hunt Trust for travel, clothing and food costs of delivering training Edward Harvisl for unifomi and food costs of training Wesl London Hotel Managers Association for hospilalily training programmes 15 Unrestrlcted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At 1 April 2023 Incoming Resources At 31 March resources expended 2024 General funds 32,179 57,838 17,0361 82,981 Previous year: At 1 April 2022 Incoming resources Resources At 31 March expended 2023 General funds 13,691 172,418 1153,9301 32,179 16 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Current assetsllliabililiesl 82,981 17,781 100,762 82,981 17,781 100,762 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Current assetsllliabilitiesl 32,179 826 33,005 32,179 826 33,005 14-
HOTEL SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Related party transactlons There were no disclosable related paty transactions during the year. 15-