REGISTERED COMPANY MUMBER.. CE010518 (England and Wales) REGISTERED CHARITY NUMBER.. 1184877 IIEPORTOF THE TRUSTEES AND FINANCIAL STATEMENTS F¢Yi THE YEAR ENDED 31 MARCH 2024 FOR WILSON% SCHOOL FOUNDATION CIO GW LLP Stalutory ￿ditor Stwlin9 HtXJSè 27 Hatd4ands Ro&J Redhfil Surrey RH16RW WILSON'S SCHOOL FOUNDATICIN CIO CONTENTS OF THE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 MARCH 2024 Pag• Report ofth• Tnffjt¢•s Report of the Ind•￿nd*ntA￿dItQV¥ 4 10 7 Statsm•nt of Flnancbal AcllvStl Balanc* Shlèt 9 to 10 Not￿ to th• Flnancld Stat#mgnt• 11 10 14 D•tall•d Ststgrnent of Flmndal Aewvlll 15 LSOWS SCHOOL FOUNDATION CK) REPORT OF THE TRUSTEES FOR THe YEAR ENDED 31 MARCH 2024 The trustees. who are a180 directors of the ¢harity tor the puffjy)5es of the C￿MPanieS Act 2(X)6, prewl their report with the financk81 slatem&nts of Ihe tharity for the year ended 31 March 2024. The trL*slees have adopte*l 3taternents finaneid year hthich give a trua and falr wew of Ihe state of affai￿ of the chant￿9 cr￿panY and of the irtoming r8sources and apF4ieation ol resources. Including Ihe income eyndibjre. of the ¢harits￿e cxynpany for that perlod. In preparing those fin￿￿￿al statsrn•nts. tho trustee5 are rwjifyd to select SLitabl• aceountirrfJ poliaes and than appty them I￿￿$￿ty.. obsoNe the methods and prlkw485 in th8 Ch&rity SORP: make judgernents and 8stim31es Ihat a￿ ffjasonabfe 8fKI prLtht,' prepare *h• financial sta¢ements on Ihe wr4J c4X￿M basis unlw il r6 in8pprcfJrfgte to pr•$um¢ Ih8t the ¢h•ritabb company wll continue n t￿l$￿SS. The trustees are resF*)n$i￿¥ lor keeping pn)par 89>￿ni￿vj records vthKI) dis¢kn¥8 V+ith reasonable a￿￿t8¢Y at any ts'me th8 finanual rknsitron of thè dori¢abb company and lo gnable trbem io ensure tt781 lh• finanryal stalem8nls ¢omply ￿1th the Companies ALt 2C#)8. They we 8180 respon*bL• for safèguarding the assets of the charitsble company and he￿& for 1gkff¥J rea¥ry￿￿48 St8p8 tho provenbon and detedon of ff¥ud and othèr irregularities. In so lar8s tt)è tnJste85 a￿ ￿ra.. th8r8 is no ralevant 8uth't Infrm)atlon of thich Ihe charl￿￿0 companls audttors arg unawar•', and the Irusle8s haw taken all steps that Ihoy ought to hav8 taken to m$ke themsdves aware of any relevant audit inlormalm and io est8tyIsh that the 8r¢ aw8re of Ihat infom)8Ign. AUOITORS The audit￿s, G&J LLP, wll ￿ w¢g05ed for r84FPC*)trMnt at Ihe forthccfflin9 Afin￿l General Me8ting. Approved by order of the board oftru5tees on 25 Novwnt)er 2024 aTrJ signed on its tehaff by.. Trustee REPORT OF THE INDEPENDEPff AUDITORS TO THE TRUSTEES t WILSON'S SCHOOL FOUNDATION CEO Opinion We have audited the finanryal statemènts of Witson's Scfv)ol Foundatirn CIO (the 'charitable compan￿) fr)r the year ended 31 March 2024 vknich C(￿￿7$e the Slatement of Financial Acts"wties. Ihè Balan￿ Sheet and notes to finanrial statements, Trnduding a st4nmary of &9nthcant accountiro poliaes. The fin8niaal reporbng framewod( that ha5 been a￿led in th&r pY8paration ss applicalle law aThJ United ￿r@doM Accounlng Standards (Unrted lfjngdom Gen8T8HyActopted AccounbrrfJ Pra¢ticg1. In our opisth)n the finanri81 statements: give a and faw ￿trw ot the slale of Ihe tharikbbe COm￿￿S affairs as at 31 March 2024 and of its lrttsmsrrfJ resource$ and applicab.on of resour￿, srKaLOi￿￿ tts incorne and expenditu￿, for the year th￿* ond8d', . have been wopedy wpared in xcnrdanc¢ Uniteil I￿￿c￿ Gener8Ity Accepted Acoyjntrng Pracllc&'. and . have be8n preparnd in ac￿r￿an¢¥ wth the rgwiremenis oflh6 C￿￿leS Act 2¢))6. Bash for oplnlon We conducted our auth't in accordanc• v*ilh Intern￿1￿1 StaTrJards on ALhaibng IUKI {ISAs IUKII 8nd appli¢8ble law. Our ￿SponsIbl11￿eS vndef those stamkrds are further describ8d in lh¢ Auditors, responsibilitk8s for th? audit of the finarrial $￿t￿ents sec￿On of tyjr rwrt. We are independent ol th¥ ch8rilabig ¢>ynpary in accordance ￿lIh the ethical req￿rtMents that are ¥elevant to our audit of the financial slatem8nls * th$ UK, ￿duding the FRCS Eth￿ Sland*d. #nd wè ￿v¥ fvffilled our olher èthical re5wnsibilities in accordarte wilh these requlrements. W• b￿￿ th* ts autht e¥Ad8n¢o wo obtsined 15 sufficient and approwa¢g to provide a b￿$ lot Conclu8lon8 rdJUng to golng Con￿rn In 8udiling thè financial stslements, have TryK4￿ Ihat thè tr)J$t¢g¥' u¥e of the wng cone8m ba$18 of accountin9 in Ihe prepara1￿n ol thè fin8rKtal stalements ts 8FWOm¢. Based on the have p8rfomi¢d, have not Idsntifiod *y material uncertsints.es rd8ts.ng to events or conditions that, indivkjually or colw, may cast signrf¢cant LY) th& dK4ritatrAe companys ability to ¢tsniinue 83 a goirvJ ¢>)nc8m for a pe1￿ ol at m¢￿¥ frcffl the finandal statomenls are aulhorised for Issu8. OUT responsI￿lI￿￿$ and rtW5iblllth of ts tru8t•os %%ith respect trj LKJlro fxyYAm are descrtbed In th8 re￿vant $0¢*'m8 ol Ih¢5 report Oth•r Infomiatlon Tho trU¥ts￿ are ￿pOnSIble for ts other Infrmation. Th other infNmation compris8s th• inlormalion Induded in th8 Annu81 R•p)rL oLher than th& fin8nrJal statements 8ThJ tyjr R8p)rt ol the Independent Auditors Ihereon. Our opinion on the finanoal 51alernents noi ¢o¥¢r Ihe infonnath"c￿ and, gxcepl to th8 extent expliauy 51aled in our repm, ￿ do r￿le¥￿e$S Ony fomi of 8wrance condu&on theroon. In conneelth with our audit of Ihe fin8n¢ial 3¢8tements. our respwblity 1$ to read the other Information aThY, in dThng so, consider whètt)èr Ihe other infom7ation is rnakrially inconsistent Y¢ith the financi* statements or our kno%￿edge obtained in the audii or othw￿lSe appeats to be materi81ty misstaled. 11 idèntify suth materFal Incon￿Stene1￿s or apparent rnateri￿ missta*rnenls. we we requwed to detèmine whether thls glvos ris• to a rnalerial mi6Statem6nt in the ￿nar￿lI slatemerrt5 th8msefves. It, based on the y￿rk we have perfomied, condude Ihat lhe￿ is a material misslaiement of this oth8r Infc*Mab(￿, we are required lo faport Ihal 18ct. We have nothing lo rowt w) Ihis rewd. REPORT OF THE INDEPENDENT AVDrroRS TO THE TRUSTEES OF WILSON'S SCHOOL FOUNDATION CIO Matt•rs on which w• are requlfed to r*port by •xegW*)n We have nothing lo report in re5p8cI of Ihe fdlowffig matters kn the Cha{￿e$ IAccc*Jnis and Reports) Regulations 2008 requites us to reFX)rt tts ￿ rf. in our otmnion.. the infomation given in tho Repcrt of the TnJste85 is irKonsthnt in arry material respect ¥Mlh th& finanth statements", or Ihe charilalle company has not &Yequate a(zcwtiThJ records.. ¢x Ihe finart181 st8t8rn8nts are not in agreement with the accounting records retums.. or we have not received all the inlm8tion aThY eWanabc*is require for our 8lhYit R•spoMibiliti48 ol tru•t•¢$ As explained more lulty in the &atemenl of Trustees. Res[y)￿lI￿1$ti￿5. the ￿JSt8eS Ivtho are also the dlrectors of the charitsbl& ¢ornpany for the wrw58s of crmpany lawl are respc¥)s1￿e tr the preparation ol financial staiements and fc¥ b&ng 5absfied thai they 9Ne a truè 8fKI fair w8w. and for such intemal control as Ihe trusteès dotermin8 is necessary to 8nabl8 ts pTepWatic￿ of finanoal $t810rn8nts that a￿ free from material misstatement. vh*ther dus to fraud or error. In preparing the financial Statem￿1$. the truste8s arn rnspw$Ll¢ for asse85iTVJ the Cha￿ta￿e companys ability to contiftL￿ as a going ejjrtem. disdo*ng, as *ic8bl8. matters rdaled to go￿19 ar￿ using the going corKem ba￿$ of 8ccounJng the trustees &th8r int8nd to liquidate th8 charitatJ8 company or to c8ase opwatw. or h8ve rKJ realistic 8ltem8ti¥9 to do so. REPORT OF THE INDEPENDEfvtr AUDITORS TO THE TRUSTEES OF WILSON'S SCHOOL FOUNDATION CIO Our responslbilltlgs for the audk of the financial statements We have been appointed a5 aL&iors Secbtsn 144 of the Charities 2011 and rep(xt in 8ccordan¢e wlth the Act and relevant regulations rn* thereunder. Our objectivgs are to obtsin rea50nth aswrance thl vrtthr Ihe fir>an(xal stalernents as a whde are trea from material misstatemenL whether (hje lo fraLxI CY em)r, and lo iswe a Report of the Inde￿ndent Auditors at illcludes our opini￿. Reasona￿¢ assurance Is a high level of assurance, but is not a guarantee that an audit Conduct￿ in acr£Jrdance Mlh ISAS IUKI wll atways delecl a material misst8tern8nt when it exists. Misstatements can arise from fr8uI or er￿￿ a￿ 1x￿SKIe[e￿ material il. indimdually or in the aggregate. they CC￿ld reasonably expected to Mffluerte the &cmmic deogons ol us•ts taken on the basis of these financwl staternents. The exknt to whi¢* our procedffts ar& ¢ap￿￿ Ofdetr£￿￿ irre￿¥r[b?5. Induthng Iraud is detaled teknv.. IrregU￿ritieS, includiryJ fraud. ae Insirn of Trjn•Q)m￿ia1￿* wilh law5 and regulaticns. We design procedures in linè wth ow reSp(￿b￿be$. (¥JUined above. to doie¢t material misstatemont3 In respect of irregulariti83. including fraud. IIMng to the inhewt limilations ol an audit, therè 18 an unavoidable risk that material rnisstatenwnts ¢n thè f¥)anryal ststements rnay not be dèt¢¢tsd, fftn though the audit property planned and ¢*rf￿ne￿ n awDrdance bwth thè ISAS IUKI. Th$ extont to thich our PTwedur8s ar• ¢ap*& ofdelecting iTegtJaritse$, IndudlrvJ fraud is det￿red teknv.. We enquired of management the Charity's pc4hYes and procwlw05 Td8ting lo: - the Identificati￿, evaluati￿ and compliancè ￿¥th laws 8nd regulats"ons'. - the delectson and mspYJns¢ to the riths ol fraud". and - th* oslablishrnent of inÉemg1 o)ntrds to ffliligate iisks related lo frgLxI or ThJfvcomfAlance laws and regul8ts'ons. The Challty 15 subject to many kns 8nd Tewlations %%ther& th& of nortllcompjiance eould hav materlal on arnounts or thsdowrns in the finan¢Jal statements. W6 idMu"fied the follo%%ing laws and regulations as the most Itk8ly to have a rnaterial effeci if n¢)n-com￿lanCe were lo occur,. Unltad ￿.￿d¢M Generaty A¢c•pted AccounliTrJ PractKe. tho cOm￿nIe5 Act 2006. the Charilas tst 2011. tsx legislalon, 8nts'-bribery bg1S￿lIon. GDPR and wnF4oyment law. We as8gwded the suscAptrbillty ol Ihè Ch8riVs fina￿81 ststements to mHt¥rial ml3ststement, indudlro how fraud might occur, by tvaluats'ng rnanagement's In¢•nbves and opporbjntbes for manipulatwjn ol ihe financial $laternenls. Thiy inclL*ded tha ￿￿uation of the of M￿a9￿m￿l ovwridg of contrd8. We dat￿M￿1•d that the principal risks were in relatNYTr to: . rèv¢nu? recognition an¢J C￿￿81￿nesS 01 debtors . aUtho￿S81¥)n of PUf¢h#8è3, donal*)ns and comp*ness ofc¥wJitcrfs . potsntk91 rnanagement tria$ M) dthmimiirfj acciMmtir4J estimat•s It is the audit partnerfs as5essmenl Ihal Ihe aL#lit le￿ colle¢Dwly had aF￿￿￿te C4JrnP8t8nu and cap8bilib.ts to Klentify or Tecognise non-compliance wlh law3 and WLdations. Wè obt8in8d xn understanding of Ihe Ch8rity5 operati￿$. I￿uding th• natrJr• d its menue s￿￿$, products and serwces and ol ils objecb'ves and strale9*S to understand Ihe dasses of tr8ns8clions, ac¢ount b8lanc*s, expected financ4al stateM￿l (*sch)5wes and bugness risks that may rewtt in risks ol rnateri81 misstatement. We also considered the elfeth"¥eness of the Charitys control environmènt to idantify and pr￿8n1 any irre9ularfties and fraud. A further de￿riptI¢￿ of Oltr ￿SpOnsi1￿"111es fcf the wdit of Ihe finanod staternents is located on the Finanei81 Reporhng Couneils wpbsrte al vwM.frc.¢xg.ukJauditwespongkntsbes. Thks des¢rtptiM forms part of our Report of the Inde[endent￿Jd[tor$. REPORT OF THE INDEPENDENT AUDITORS TO THE YRUSTEES OF WILSON'S SCHOOL FOUNDATION CIO Use of our r8P¢Jrt This ￿port is made SAI8ty to the chantable ￿npan￿$ trustees, as a bjty. in a)))rdance wth Part 4 of the Charities lknounts Repcytsl R8gulatk)ns 3)08. I￿r autht has been tkThlortakon so that we Might st81fr lo thè charitatAe ¢ompanrfs trustees thosè mattw5 we to state to them in 8n auditors, rewrt and no 0￿r purpose. To the fulkst extenl by law. ￿ th) not or assum8 resp(￿sIbilItY lo anyone other thwt thè th8rit*e cwpany the d)ariiabb (xmnpanls trvstees as a body, for our audit ark. for Ihis rewrL or forthe Iwe fryrn&Y. GBJ LLP Statutory Auditrx Eligible to act as an al￿*1￿ in tenns of Sth 1212 oftt* Companie5*d 2£￿6 St8rling House 27 Hal¢hknds Road Redhill Sutrey RH18RW 25 Novgrntw2024 WILSON'S SCHOOL FOUNDATION CIO STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 AIARCH 2024 2024 Unrèstricted fund Total fvnds 2023 INCOME AND ENDOWMENTS FROM Don8ti¢)n5 and legaues 21,688 21.685 Inva$trn8nt inc¢yne 285.467 274.506 T¢>tal 307,155 296,191 EXPENDITURE ON Charltabl8 a¢tlvEtIo• School SUPFQrt 339,861 2,284,603 Oth¢r 48.719 48,035 Total 388,580 2,332,638 NET INCOMEiiexpENDITURE) 181,4251 12,036.4471 RECONCIUATION OF FUNDS Total fund5 broughi lorward 8,e08,042 10.044.489 TOTAL FUNDS CARRIED FORWARD 8,526,617 8.808,042 The notes frym pwt of Ihese finwal stalwnents LSON'S SCHOOL FOUNDAMON CK) BALANCE SHEET 31 MARCH 2024 2024 Unr•strlct•d lund Total funds 2023 Not•s FIXED ASSETS T8ngible asset3 Investment propety 80,011 8.000.000 98,627 8,000,000 8.080.fr11 8,098.627 CURRENT ASSETS Debtors Cash at bar 223.521 237,928 223.521 3￿),839 461,447 574,1eo CREOtTORS Amounts laHlng du9 W71hin year 114.8411 184,7451 NET CURRENT AsseTS S09,415 TOTAL ASSETS LESS CURRENr LIABILITIES 8,528.617 8,608,042 NET ASSETS 8,526.617 8,608.042 FUNDS Unresirfclad funds 8.S26,617 8.008,042 TOTAL FUNDS 8.528.617 8,e08,042 The charitsble company is gniilw lo exemplj'on from audit urts Se¢bon 477 of the Companles 2￿6 for thè yèar ended 31 M8rch 2024. Thè members h8¥8 de￿ted NJti¢o. pur¥J￿1 to Section 476 of ts Cthnpgws Act 2Cth requiring an audit of Ihw fingnoal stsiernents. The trustees aCkn￿ed90 lh￿r respon￿￿"1￿18$ k (al ensuriro that the charitable cOm￿nY acto￿ti￿j rwds thai eornply S•¢b'ons 386 and 387 of tho Companies NKt 2006 and Ibl preparing financia statements give a true and lair view ol the state of affairs ol the charitable compary as a¢ Ihe end of each finaFKi81 year and ol ils gJWus ￿ daficat for 8￿h finanual year in accordance v•ith Ihe requirem￿1$ ol sec1￿$ 394 atKI 395 and whKh oththse comply wth the rgquir¢ments of the Cornpanies Act 20LK rd8tirwJ to finanoal statements. so 1* as applicat￿e to the charitsbl8 company. Thase finanaal Slat•m￿ty h8¥e been audtied rwirern￿ts of Secticn 145 ol the Charitsos kt 2011. notes form part of ihe5e financaal statements continued... ILSON'S SCHOOL FOUNDATION CIO BALANCE SHEET. colthnued 31 MARCH 2024 These finanaal statements have prepared in ac1)y￿ the pro¥itsions applicatde to eharttablè comparites sutty'ect to tre smaK cornw￿ ￿lMe. rhe finarKial slaterrtents were approved by the Bo*d of T￿￿te&S ¥KI authoriséd f¢Y 1¥sue c 25 November 2024 aTrJ ￿tre signed on ts t￿h￿r by.. Trustee The notes part ofthese finanual sratoments -1( wtLSON'S SCHOOL FOUNDATION CIO OTES TO THE FINANCIAL STATEME1￿& FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES Basis of prgpaTin9 tho Wnan¢lal statements The financial staternents ol Ihe chwitsble c￿nY. v4hth is 8 wt4ic b8nefft enbty und9r FRS 102, have teen prepared in attorilarth Ihe Chanb'es SORP IFRS 1021'AttoLmting and Reporting by Chariiies.. Statement of RectsnmeThJed Practs"￿ aPp1Ka)￿ to charibes preparing their accounts in accordan￿ with the FinarKsal Rewxbng awuble in the UK and Republic ol Iraland IFRS 1021 leflective l January 20191,, Finanaal Repo￿ThJ Stsndard 102 'Th8 Financial Reporting Standard 8pplicable in Ihe UK and Reput1￿ of IrelaThY' and Ihe Compani8s Act 20C6. The finanual statements have been wepared trm'slorica cost conven1￿. Incom• AJI income recogrysed in th& Slatemenl of finwial N4i¥ibes once Ihe charity has entiuement to the Jnds, il is yobable Ihal the irK)Th ￿11 be rweNed and the amount ￿ be measured relIab￿. Expenditure Liabilities are 86 gyn(fiNJre as won 8$ thef8 Is 8 I￿1 or e0nstNd￿ obl￿)31￿)n omrnittirrtJ Ihe charity to that expenditure, it is probat￿$ tt)at a transfer ol econornic benefits will be required in Se￿emen1 and thg amount of the otA vJab"on can be rneasu￿ rdiably. Expenditure is accounted for on 8n accrvals b￿"S and has bten ela5snfiod under headin9S that aggregate all cost rolated lo the category. u)sts canr#)t be direc¢ty attributed to pa￿"0￿8r he8din95 th*y hpve been allocated to activiDe3 on a basis con&st•nt usè ol rtSgur¢tr5. Grants offered subject lo c￿dI￿on8 vth*h hav• not mot 81 the year dats are noted as commitment bjl not 8cuu8d as •xpen¢lDm. Tanglbl• Ilx•d a￿￿￿ Assets employed by ¥Mlson'$ Sc*Kfttin%*d FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMEPU OF FINANCIAL ACTIVITIES. cryrtlnued Unrestrlcted fund TOTAL FUNDS CARRIED FORWARD 8,608.042 TAN￿BLE FIXEO ￿￿Er8 Fmhold propèrty COST At ) Wil 2023 8nd 31 Mar(* 2024 142,064 DEPREaAlloN At 1 Awil 2023 Charge lor ye 43,437 18.616 At 31 M8r¢h 2024 82,053 NET BOOK VALue At 31 March 2024 80,011 At 31 March 2023 98,627 INVESTMEKf PROPERTY FAIR VALUE At 1 April 2023 and 31 March 2024 8,000,000 NEf BOOK VALUE At 31 March 2024 8,000.000 At 31 M8rch 2023 a.￿0.0 hi$lort¢al ¢>xl ol Iho In¥¢strn￿t kYoi>erty 1$ not Investment was valuod In July 2020 by SelectSuN Ltd. Chartered Swew)rs. continued... IMLSOKS SCHOOL FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 DEBTORS: AMOUNTS FALUNG DUEIMTHIN ONE YEAR 2024 2023 Other debtrys 2rJ.521 223,521 CREDITORS.. AMOUNTS FALUNG DUE IMTHIN ONE YEAR 2024 2023 Other crndito Acuued expenses 12.501 62,501 2.244 14,841 84.745 10. RELATED PARTY DISCLOSURES At the year end. Wlson's School Trusl CIO. th6 subsidrdry of the charity. owed the ¢h8nty £223,521 12023:£223,5211. Th* wounl 1$ ir*W¥d wthin clher d•blor$. -14- WILSON'S SCHOOL FOUNDATION CIO DETAILED STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 klARCH 2024 2024 2023 INCOME AND ENOOWMENTS Donatlons and I￿8￿•9 Donbtions Other ineom¢ 200 21,488 21.885 21.6B8 21,685 Invo$¢m•nt In¢¢Mn• Rents rewved Deposit accwnt inleresl 280,698 4,769 268,9)8 5.598 285A67 274.508 Totsl Ineomln9 r•8oure•• 307.155 296.191 EXPENDITU chthrlta￿• a¢ilvltl•• Grartt8 to In$titutD)s 339,861 2.284,603 Support co•t8 Flnan¢• Bank ¢harge5 Ot￿r Legal and prof¢ssk)nAI 180s Fre¢hdd yoperty d&prwab 18,618 18.e16 20,138 19,818 Audllors. rnmunwatK Insuranco 2.244 25,483 25.759 28,099 27,727 Total resource5 expend&J 388.580 2,332,838 Net expendlturn 181,4251 {2.036.4471 This page does not form pwt of slattrtory finarKxal Stat￿ents