Lovlng Classroom UK Llmltod (A Company Limited by Guarantee) Company No. 11058320 Charlty No. 1185670 Report arKI financlal statements For the year ended 31 August 2023 I GOLDWINS
Loving Classroom UK Ltd Report and financlal statsm•nts For the year ended 31 August 2023 Contsnts Pag• R•for•n and admlnlstratlv• Infomiallon Trust••s' annual r•port IndondOnt Examln•rfs r•port Statement of flnanclal acllvlUo• (incorporating an incorne and expendiiure accwnt) Balanco sheet stst•m•nt of ¢a8h flXVS Not•s to tho flnandal •tatennts 9-14
Lovlng Classroom Ltd Report and flnanclal statemonts For the year ended 31 August 2023 Tlna Freedman M&llssa Glass Neil Schrff Compary numb•r. 11058320 Charlty numb•r. 1185670 Rogl8t•rod offlco: 379 Hendon Way. Hendon. Lonikjn NW4 3LP knd•pgnd•nt oxamlner. Anthony Epton Goldwlns Llmlted 75 Maygrove Road West Hampstead London NW6 2EG Idwins.¢o.uk B*nk•rn Nat West Bank Bawtry Road Rolherham S66 1JY Page I I
Loving Classroom UK Ltd Report and financial statements For the year ended 31 August 2023 The tNstee$. who ar8 also eOr$ under company law, present their report and financial sta19m8nts for thg year ended 31 August 2023. The trustees ¢onfflmi that the financial statemonts Comply with current statutory requirements, the memorandum and artlcles of association and the Stat8menl of R9mmendd Practlce - Accounting and Reportlng by Ch£rltles'. SORP appllcable lo charlS preparing their accounts in accordance with FRS 102. ObJ•¢tlv•s and actlvltl•• Purpo8•0 and alm The obledive of the Charlty Is to advance the educatiDn of young members of the public Sn good citoenship $0 that they may grow lo fvll maturfty as Indlvlduals and members of Society- The Charity aims to achieve Ihls alm by tho provision of educatk)n81 maal8, books and manuals, and lesson plans for schcols and colleges and educational services. Includlng tralnlng ond mentoring. Publ1¢ nfrfft The trustees acknowledge the duty in Section 17 of the Charitva$ Act 2011 to hove due rgjard lo tha Charity Commission's published general and relevant sub-sector guidanGe on Publ benefft. l activities undertaken by the group are for the public benefit Achl•v•m•nts •nd p•rforman The Charity received donation$ during the year of £121,338 (2022 £254,785) and spent £84.839 {2022 £190.8011 on charitable activities related to oducational and Iralnlng provlsbn. The Charity has been developlng Ilnks wllh a range of schools and colloggs lo dgliver its educallonal programmes and post-COVID. seeking add6tional sources of grants and funds to eonliftuè its work. Flnancl•l rnvlow The Chority recorde(l a surplus of £34,230 (2022, £43,225) durlng the year under review. as at 31 August 2023 had net assets of £72,230131 August 2022.. £38,000). Rory0 pollcy The Trustees alm lo have genèral reserves to support actmtlos, repres8ntlng 3 months. worth of annual c051s. Al the present time. all income supports the main obj8Ctive of the Chadty and thgre are no destrJnaled or restricled fvnds. G•lng ¢on¢•m There arg no issues at the Current Prlnclpal rf•ks and unc•rtakttl•• The Trustees review Ils operational and financial processes each ygar, and at thg current tlme, post-COVID. th& only uncertainty for the Ch8rfty Is seCung grants and donations lo pay for its a¢tivitles. The trustees monllorthe progress of fundraising to ensu that Its budget rem8lns within the paramet8rs of its known income streams. Page12
Loving Classroorn UK Ltd Report and financlal statements For th• year ended 31 August 2023 Plans farth• fur• The Trustses look lo contSnue to dovek)p educational, trnining and mentoring OPFQrtunitles In schcK)Is and colleges in the UK to promote Its oblecUve. stNctur•i gov•manc• and managemont The company wa5 incorporalad on 10 November 2017, as a company limited by guarantee. and registered as charty on 7 October 2019. The trustees, who are also the directors for the purpose of company law. and who served durlng thè yoar were Tina Freedman, Melissa Glass and Nell Schrff. None of the trustees has any beneficial interest In the company. The managemant of the company Is the responsibrfity of the trustees vtho are elected and ¢Tropled under the temis of the Articlas of Assoualion. The nvmbei of trustees shall not be subject to any maximum but shall not be less th8n tsvo. The appointment and training of a naw Irusl•è Is subjèct to thé oversight of current trust80$. There are no specmc $trictl0S imposed by th8 governing document conceming the way the charty can opèrate. Volunt8ers are not used by the charity to fuffil any charlty or operational activth8S. Relatsd part1•8 and rolatlonshlps wlth oth•r oryanlsatlons There were no related paty transaGtions during the year. Romunerallon polky for Truste and key manag•m•nt p•rnonn•l There are no key management parson1. The Trustees, who are Directors of thg company, are not pald for their seryices and do not c18im for any expenses related to their work for Ihfr Charty. Stat•m•nl of pS1b0110 ofth• trust6 The trustees (who are also directrxs of charitable company for the purpose8 of company lawl are reswnsible for preparing the Iruslees, annual report ond the financial statements in 8ccordaKe appllcable law and Unllèd lfjngdom Accountlng Standards {Unlled lfjngdom Gen8Tally Accepted Accounllng Practtce). Company law requires the Iruslees to prepare financial Statements for each flnanclal year, whh gNe a true and falr view of thg State of affalrs of the charltable company and of the Incomlng resour Bnd appltcation of resources. including the Income a1 exp8ndltura, of the charflablè company for that P8rf0d. In preparing these financial statsm8nts. the tsusiees are required lo: Seloct sultable accounting policies and then app them consistently Observe the methods and principlgs in the Charities SORP Makejudgemenls and estimates that are reasonablg and prudent stste whether applicable UK Accountlng Stsndard$ ond statements of recommended prtICe havg been followed, subject to any matsrial d&parturos dIlOSed and oxplalned In the financial statsments Prepare the financial statements on the going concern basls unless il Is Inappropriate to presume that the Charfty wlll continue In operation Pagel 3
Loving Classroom Ltd Raport and financial 8tatoMont8 For the year ended 31 August 2023 The trustees are responsible for ke2ping proper acnting records that disclose with reasonable axuracy al any tlme th8 finanL?al p)sition of the Charitab company and enable them to 8llsu that the financial statemgnts compty witi the Companies Act 2CCfj. They a also responsfjb for safeguarding the assets ofthe charfoble company and h8nce for tsking rea50nablp steps for the prevention and dettion of fraud and other irregularitres. The trustees are responsible frJr th8 maintenance and integrity of the corporate and financlal Inlomi8tion irKktded on the charitsble CrAPanS website. Legislan in the Unlted Kingdom g0venn9 the preparation and dlgsewAnatbn of flnanclal 8tstements may from legislation In olherjurisdict*Jns. Member8 of the tharKy guarantee to contrltyjte an amount not exGeeding £10 to th8 as8ets of the charÉty in the event ofwindlng up. The total number of such guarantee5 at 31 August2023 was 3 P022.' 31. Thotrustees are mernbers of the charity but this entilles trrn only to voting rights. The tte0S have benefiGkg1 intsrest In the Charlty. The trustees. annual r8Fth has b8en approv•d by Ihe trustees on 2024 and signed on th61 behalf by: Neil SGhTir TruBts8 Page14
Loving Classroom UK Ltd Independent examinerfs report For Ihe year ended 31 Augusl 2023 11gPQrt to the charty trustses on my examination of the aCCOLtnts of the Lovlng Classroom UK Ltrl for the year ended 31 August 2023. RPon81b1lltlel and ba•1• of r•port As the charrty's trustees of the Company (and also Its dlroGtrys for the purpos0$ of company18w) you ar8 responsible for the preparation of the accounts in accordan¢e wlih the requlrements of the CompanEs Act 20061'the 2006 Acy). Having satisfi8d myselfthat the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are ellalble for Independenl examination, I report in respect of my 8xaTninalion of your charlty's accounts 8$ C8Thied out under sectEon 145 of the Charities Act 2011 I'lhe 2011 Act')- In carrylng out my examinats'on I have folbwed the Directbjns given by the Charity Commission under s&ctlon 145{51 (b) of Ihe 2011 Act. Indopgndont oxanlnrfs st•tsm•nt I have completed my examination. I confirm that no matters have come to my attention in connection with th8 &xamination giving mo cause to b81ieve'. accounting records were not kopt in respoct of th8 Company as required by section 386 of the 2006 Act.. or 2. the acGounts do not acrd with those T8rdS., 3. the accounts do not comply with th8 accounting roqulrem8nts of sectlon 396 of th8 2006 Act other than any requirement that the accounts gwe a'tru8 and falr view which is not a matter consldered as part of an ind8pend8nl examination., or 4. the accounts have not been prep8red in accordancg with the methods and prtnclplès ofthe Ststement of Recommended Pracllce for accounting and reporting by charities 8ppIIc8ble lo chariti6s preparing th8Sr accounts In accordance wlth thg Financial Rewrting Standard applicab18 in th8 UK and Republic of Ireland IFRS 1021. I hove no concerns and have come across no other mattern In cne¢tn wtth the examinaoon to which attention should be drawn in this repDrt in order lo enablg a proper undeT$tsnding of the accounts to be reached. Anthony Epton BA FCA CTA FCIE Goldwlns Chartor•d ac¢wfftt•nts 75 Mtygrov• Road Wèst Hampstead London NW6 2EG 24 May 2024 Pagel 5
Loving Classroom UK Limltod Statement of flnanclal actlvltlo8 (incorporating an income and expenditure account) For the year ended 31st August 2023 2023 Totsl 2022 Total Incom• from: Donations and 18gacie$ 121,338 254,785 T¢tsl Incom• 121,338 254.785 EXwndIrO on: Fundraislng expen888 hitable activities 20.759 190.801 Totsl •xp•ndliur• 87,108 211.560 N•t for th• y••r 4230 43.225 N•1 movomnt In 43,225 RonlIatIOn of fvnds: Total funos brought forward 38,i¥JO 5.225 Total fvnds canl•d folwanl 72.230 38.000 Atl of th8 above result8 are derived from continuing acthvitse8. There were no other recognlsgd gains or tosses other than Ihose Ststed above. The attaCd noies fonn part of Ihese finanL?al sfatemènts. Page16
L•vlry Cl•MMom UK Umll•d Balanc• •h••t A• at 31 Ay•t 2023 202Z C8sh atbank In harbj 82.158 62.1S8 Credltots.. amountstsl du•wlthln >par 38.000 2a0 38,[ UNestrd fiJTrd•'. Ceneial funds T(tsl unTrstrttsJ fundB 38.OCK) F¢xth•fiTrarK&ryly•ar enthl 31 NgU612D23. th&Ctynpany was entw to •xernptron fmn aydlt undw $tiOn 4T1 orth8 Compan t2Q]6, Bnd M noli( h85 bven Ilepogthy urth Sectiun 476. YhB d1clO]S o¢nNkdge th• respons18) forensurfng that the Company keepa accol[¥J rBctyds Corn $8thn 386 of the p4 and prytho Flnandal sialerr¢nty wh¢¢h aThJ falr of ts state Of aff8irn of the Gompany 8$ at tho of Vle p•riod 3nd of Its profft or 10$8 lor finondBI In actOTrl8v¢B roquirents ofs4ctK5 394and 395and 0th8rwi4e wnptytwHh rnquireThents 01th8 Compenb8 2£. sof•r as aFplbknto tr8 CLYnwny. The Finanaal Statsm8nts bggn wopared In acwdance 1h th• speciil pmkJns Ing to Bmall compan8 Within P¥t 15 of Iho Companl•#Ad21X)6. by thB Iwtstra8 on .... and on thpir beh8Wty'. N418¢Nff forrn p&rtoflhffin8ncl•l statents. Page17
Lovlng Classroom UK Umltod statement of cash flows For the year ended 31 st August 2023 2023 2022 Cash flows from operatlng acllvlll6•: Net cash provlged by I lused Inl operatlng advllles 13,IM6 56.342 Change In ¢h and ca•h •qulvalents In the year 13,IM6 56.342 Cash and cash equivalents at the beginning of the year 62.156 5.814 Cash and cash •fjfvahnts at th• •nd of th• y 75,202 62,156 Page18
Lovlng Cla88room UK Llmltad Notss to th• llnanclal statemonts For the yoar •nd•d 3151 August 2023 1 Accounfjng pollcl a) Ba1• gf pr•paratton Th8 financial st8lem8nts have been prepared In accordance wlth Accounting and R8porting by Charitles: Ststement of Recommended Pracfj( appllcablè lo charities preparlng their accounls in acwrd8nr with the Finan¢Sal Reporting Stsndard appllcablg in the UK and Republlc of Irtsland {FRS 102 - effecllve 1 January 20151- (Charitles SORP FRS 102} and the Companies Ad 20[. The charitable nY meets lh& definition of a publlc benefft entity under FRS 102. Assets and li8bililies are Inltially recognised at historical cost or transaction valuo unless otherwise stated in th8 ral8vant accounllng policy or note. b> Golng concorn The trustees consider that thgrg are materlal uncertalntles about the charmable company's ablllty to wntinue as a going concern. The Irustees do not consider that there are any sources of 8sllmalion uncertainty at I reporting date that have a signrficanl risk of ¢au81ng a material 8djusment to the carying anK)unts of assets nd liabiliti8s wrthln the next reportlng period. ) Incom• Income Is rwni8ed en the charity has entitlement to the funds. any perfomianc8 conditions attafJ)ed to the income have been met. st probablè that the incom8 will b8 r8céiveil and that the a)Unt be measured reliably. Inwme from govemment and 0th8r grants, whelher'capital. grants or 'revenu8' grants. Is recugnised when the tharity has entitlement to the fund5. any perforniance conditions attached to the grants have been met, it probable that the income will bo received and thè amount can be measured reliably antj Is not deferred. Income recoived in &Jvance for the provision of specAfi8d servre is deferred untll the crmerfa for Incl recognilion a d} Donatlons ol glfts. and facllltl•# Donated profe&sion81 Sei¢S and donated fadlrt59s are recognls&l 88 Incomè wha) Ihè tharity has c(mtrol over the item or received the 8ervlce, any nditiOnS assocaaled wlth the donatK)n have been mèt. the receipt of economic benefit from the use by the charlty of the item is probable and that economic benefit can bo measured reliably. In acoordonce wlth the Chadlles SORP IFRS 1021. volunteer time is not re¢ognlsed so refer to the trustees. annual report for more information about their conlributs'on. On rocèipt, donatsd gffts. professional servicas and donated f&illtles are recognised on th8 bas of th& value of the gift to the charity whith is the amount the charfty would have bogn wlling to pay lo obtsin servi5 or faalities of equivalent ecfjnomic benefit on the open market., a LX)rresponding amount is then recognlsed in expeThJiture li th8 period of receipt. •) *rt•r•st r•colvabl Interest on funds held on deposit is included when CeiVable and the anUnt can be measured reliably by the charity,. this is normally UFon nollficallon of thè Interest paid or payablg by Ihg bank. Fund a¢¢ountlng Unrestricted funds 8r8 available to spend on actlvltlos Ihal further any of the pOSeS of charity. Designated funds arè unr8$tricted funds of the charlty whlch the trustees have decided al their discretion to set aside lo use frjr a speclfic purpose. Restrlcled funds are donations which the (Jonor has stiecified are to be solely used for partlcular areas of the charty's work or for Specffic projects being undertaken by the charlty. Page 19
Lovlng Classroorn UK Llmlted Notss to tho flnanclal statements For the yoar •nd•d 31st August 2023 1 Accountlng pollcl•s l¢ontlnu•dl g) EXkn and VAT Expendltura is recognis8d onc8 there is a 18gal or construthv8 obligation to mako 8 payment to a third paty, it Is probable that settlement will be required and thè amount of the obligdon can te measured rg16abty. Expenditure Is classffied under the followlng actlvlty headSng8'. Co$ls of raislng funds comprfse of tradlng costs and the costs In¢uried by the charitable company in inducing third par to mak8 vrAuntary contributions to it, as well as the cost of any activities with 8 fvndraising purpose. ExpendiluTe on charitable activffjes includes the costs of delNeTing seTViC8S.and othgr adNitigS undortaken lo further the purposes of the charity and theSr associated support costs. Olhgr expendllur8 represents those Itew not tslling Into any ¢ther headlng. 1Cover0b18 VAT is ch8rged as a cost against the activity for whlch the expendfture was Incurred. h} Allocatlon of w•port 1 Support costs ar8 those functlons that asslsl the work of the charlty bul do not dlrecuy undertake charitable acbvltles. Support ujsts include back office costs, ffinance, personnel. payroll ar govemance costs whith support tho charty and its and a¢Uvities. These costs have tn alkscaled betsveen cost of ralslng funds and expenditure (m GhaThable trlI18S. The basis on which supwt costs have been allocated are set out Sn note 3. l) Op•r•tlng l•aM• Rentsl ¢harges are charged on a stralght Ilne basls over the term of the lease. J) D•btor• Trade and other debtors or8 reLwnlsed at lh8 settlement amount due after any trade discount offered. Prep8ymenls are valued at the amount prepald net of any trade discounts due. k) Cuh •t b•nk •nd In h•nd Cash at bank and cash in hand includes cash and short term highly liquwj investments with a srt maturity of three months or less from th8 dale of acqulslilon or openlng of the deposlt or slmSlar account. Cr•ditorn and provlslons Creditors and provisions aro recognisod whero the charity has a present obllgatlon resulfjng from a past event that will probabty result in the transfer of funds to a third party and the amount due lo settle the obligation can be measured or ostimatsd reliabty. Credith and provisb)ns are nomially rgcognlsed at Ihek Sgtllgment anN)unt after auowing for any trade discounts due. m) Fln•n¢lal ItruM*nts The chaTIty only has financlal assats and finandal liabSlWios of a kind Ihat qualify as basic fmancial instruments. 8aslc flnancb81 In8lrum6nl8 are Inrtlally recognlsed at transaction value and subsequently measured al the settlement value wtth the exceptlon of bonk loans whl¢h are subsequenlly measured ot anK)rtised st U8lng the effective interest method. Pagel 10
Lovlng Classroom UK Llmltsd Nol•s to tha flnancial statomonts For the yoar onded 31st August 2023 2 Irvm•from doD•tIo •nd l•B•¢lo• 2022 Ttstsl Gwls and donations 121W8 121,338 254.785 254.785 3 An•ly•h of •xp•ndltsr• Basis of allo¢a¢kJn Ch8ri¢able activibe$ Supp(rt Govemanc8 co&ts 2023 tol•l 2022 to ch189 Activiti05 rect Supp(rft eosts Direct I8Ponden1¢Xamln9ti0n f99 're 81.503 81.803 1 J36 157,993 30.648 2.160 190,801 1,536 1000 1000 81.503 1.536 Supp(11 wsts 1,536 11,536) Gov8m8ne• cts5t8 1,800 11,8C(*l Total expqndlturn 2021 84,839 190,801 I tlw oxpondllui• was unrgslrfctod. P¥9g111
Lovlng Classroom UK Limitod Noles to tho financial slatoments For the year ended 31st Augusl 2023 3a Analys1• of eyndltuY• {pYwlws year for comparfson) BASIS of allocatson Charilablo adlvllles Support Gov8rnance ¢osts costs 2022 Charitable Actsvibes Support costs Independenl examlnation fee Direcl 157,993 157,993 30,648 2.160 2,160 157,993 30,648 2.160 190.801 Support costs 30,648 130.648) Governancè costs 2.160 (2.160) Total •xp•ndMurn 2022 190.801 19D,801 All expendlture was unrestricted Page112
Lovlng Classroom UK Umlt•d Notes to the flnanclal statements For tho year ondod 31st August 2023 Mot Incom• l (•xp•ndllurn) fortho y•ar This is stated after charging I Icreditingl- 2023 2022 Independent examination fe8 1,800 T•xatlon The char¢tat4e company is exempt from ojrporathon lax as all its irKome is charitablg and is appqigd fur charitsblg purposes. Crndltoré: •mounl¥ falllng du• wlthln on• y••r 21>23 2022 Tra(lè crgditors A¢crual¥ 812 2.160 21,996 2,160 24,156 Mov•m•nts In fundB Asat1 September 2022 At31 August 2023 Incom$ Exp&Thdlture G•n•r•l fund8 38,000 121.338 87.108 72,230 Totsl unr••trlclad funds 38.000 21,338 87,108 72,230 Page | 13
Loving Classroom UK Llmltod Nots8 to the flnanclal statemonts For the year endod 31st August 2023 RonE1?n gf n•1 In¢om• l {•xp•ndltyr•) to n•t ¢•#h fi from opornOThg actl¥ltl•s 2023 2022 Mèt Inc4xn• l {•xp•ndlturo) forth• Mportlng p•rfod {as p•r th• st•lom•nt of financlal acttvltlos 43.225 Ilnerèasey decrease in debtors IlrKrgasey decrease in stock In¢rea3el {decreasel in creditors N•t ¢a•h pn>vld•d by l (us•d Inl op•ratlng a¢tMII•s 1.100 481 11.536 56.342 13.046 kn•ty•ls of ¢8•h and ¢a•h •qulval•nts At31 Augut 2023 8•ptsmb•r 2022 C8$h flows Other changes Cash al bank and in hand 62,156 13,046 74202 Total cmh and •qulval•Thts 82.156 13.046 75302 10 L•gal statu• of th• charfty The charity 1$ ¥ ¢ompany limited by guarantee and has no share capital. Ea¢h memb&r is liable to contritrJte a sum not exceeding £10 in Ihg gvgnl of thg chartiy being wound up. 11 Rd•t•d patytranmctlons There wère no rtlated poty transactions during the year12022: Nil) Page | 14