GRENADINE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st August 2024 Registered Charity number: 1185734 Independent Examiner: Finsbury Robinson Limited 237 Westcombe Hill Blackheath, London SE37DW Registsred Address: 16 Coppelia Road Blackheath, London SE39DB
GRENADINE Year Ended 31st August 2024 Contents.. Page Reference and Administration Details Report of the Trustees ststement of Assets & Llabllltles Statement of Financial Activities Notes to the Firkqncial Statements Independent Examiners report
GRENADINE Reference and Administratlon Detalls for the Year Ended 311t Au us 202 Charity Number 1185734 Registered Office 16 Coppelia Road Bla¢khealh London SE39DB Trustees Ms Stephanie Arguello Ms Christlne Bosvlel Mr Etienne Gausseres Mr WilfrKI Girard Mr NiGolas Desolino Caroline Pradier Daria Wellman Romain Meneghini Chair- resigned 30th June 2024 Treasurer- resigned 30th June 2024 Resigned 30th June 2024 Appointed Chair 1st of July 2024 Appointed Secretary 1st of JU 2024 Appointed Tre8$urer 1st of July 2024 Bankers Lloyds Bank plc. 25 Gresham Street London EC2V 7HN
GRENADINE ort of the Trustses for the Y r Ended 31 A ust 2024 The trustees present Iheir report with the financial statements of the charity for the year ended 31 Augusl 2024. The trustees have adopted the provisions of Accounting and Reporting by Charkties.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland {FRS 102) {effective 1 January 2019). OBJECTIVES AND ACTivrriES OWECTIVES The objective of Grenadine is the provision of a Saturday school for children who have a French speaking parent c< Garer or live In a French speaking environment but attend English speaking schools. The school aims to expand the children's abilities to speak and WTit8 in French and give them exposure to the diverse cultures of the French speaking world. FINANCIAL REVIEW Reserves Policy Grenadine is keeping financial reserves aside to protect the Charity against period5 of dlsruplion {suGh as the one experienced during the Coronavirus out5xeak), drops in incorne {fewer children attending the school) or unforeseen cost increases. The reserve is in place to mitigate negative flnancial impact and to ensure Grenadine can COntue to honour its financial commitments without interrupng Ihe good running ol the school. The minwnum nominal amount of reserves is addressed on a yearly basis lo ensure it contwwes to represent an adequate ratio of the full year costs Idrca 25%-50% of the annual costs). With current annual costs of around £84.000. the target Is for the finanual reserves to be above a minimum threshold of £21,000. This target has successfully been mel for the year ended 31StAugusl 2024. Going Concern The Trustees, focus is first and foremost to ensure Grenadine can continue as a golng corKem. From 2020 to 2022, the Charity went thrOh two years of losses due to the tmpaot of Brexil and the Coronavirus pandemtc. The combined effect was a reduction in the number of children attending the school coupled with an increase of the running costs (onllne class support, cleaning. teachers, assistants). The Committee has carefully monitored the finan¢lal situatlon. Thanks to a series of mitigating initiatives, the Trustee5 are pl&2sed that Grenadlne was able to Successfully deliver a positlve nel income for the years ended 31d August 2023 and 31)t AugLSSt 2024. A remodelling of the fee structure and a general fee Increase were agreed for the s¢hool year 2022- 2023. As a result, the school generated a surplus. replenishing the reserves to face potential future risks and absorb potential higher costs related lo Inflation particularly on teachers, wages and John Ball's rental costs. The Committee upheld a Gonsistenl financial framework throughout 202&2024, ensuTing the school's accounts remained sustainable and healthy.
In addilion to the h0o1 fees, other sources of fundraising were organised durThig the year.. book fair and summer falr. Those sources of fundraising are irnportant to the school rAlendar as il also helps to reinforce Ihe bonds between the schth)l and the Soulh-Easl London Fren¢h community. Future plan9 Grenadmie has reached a milestone in 2022 by celebrating 20 years of existence. The focus is for the school to remain a key feature of South-Easl London FrenGh community. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity is controlled ty its governing document, a deed of trust and constitutes an Unincorpoled charity. The Trustees work towards provldlng the school with 8 Sustainable finan¢ial and operational framework In order to strengthen Grenadine's legacy. Governance Rlsk The Trustees are parents of children currently attending Grenadine. They are all volunteers, appointed to the Committee for a maximum duration of four years. The natural turnover is nec&gs8ry for a fresh perspeGtive and a motivating outlook towards the future. However, il also means the success of the Committee is dependent on finding parents willing lo invest their tlme, efforts and to brlng their specific competencies to the Charity (evenls organisation, accounting. leadership). The Committee seeks to keep the number of Trustees to a minlmum of five and look for new members on a regular basis. A minimum level of volunteering is requested from the parents {participalion to the events, assisting the teachers on a Saturday morning), with the expectation that some of them will be interested in Increasing their Involvemenl and subsequentty join Ihe Committee. Flnancial Risk The safeguarding of Grenadlne's funds and assets is one of the Truslee5' main missions. The impact of 8rexlt and the Coronavirus outbreak on the ChaTity's accounts have highlighted the Impprtance of conllnuously managlng the financial prolections to ensure adequate level$ of income and reserves. The Committee strives to find an adequ8te balance betsween income and expenses, revising and approving the schr)ol fees, structure on a yearly basls. External Risk Grenadine's development has for many years been intrtnsically Iked to the growing presence of French famllles in Soulh-East London. Any demographi¢ changes are therefore a key risk faolor in the good running of the Charity. Number of children per class is continuously monitored to ensure the school structure and operatuig methods conllnue to be financially viable. Operational Rlsk The ongoing commltment of the teaching team Is a key asped of the Charity and therefore orte of ils main opeTattonal risks. The success of the Charity is also very much Ilnked to the dedication of the Headteacher since the inception of the school. The Trustees, objective is lo strengthen the school operating structure to mlllgate polenti81 departure of key stakeholders. To that effect, Grenadine has recruited an administrative assistant to second Ihe Headteacher for the administratlon of the school. In addition to this, a Manual has been created to explain the structure and the running ofthe h0o] so that key details can be recorded and passed on lo future stakeholders.
Grenadlne has been able to provide Gonsistency in terms of localion for its Saturday school, wh the use of John Ball Primary school's premises for more than 20 year5. The Trustees are mindfvl the rental agreement may cease one day, and the Charity will find ilself In the obligalion to find a new location, with wlential rate increases. This is another strong driver for mnimum financial reserves to ensure the ongoing concern ofthe Charty. Approved by order ofthe board of tnjstees on and signed on tts behalf by.. 28 Juin 2025 Mr Wilfrid Girard Trustee
GRENADINE STATEMENT OF ASSETS & LIABILITies Year Ended 318tAugw8t 2024 nr fltnds stricted lund 3110812024 31108120 N4Aes CurrentA5¥et8 CuttentAccount S2ng$ Awount Trade Wtors 21,803 35,544 1,175 21.803 25,544 1,175 2D,758 2Q.132 450 Tolal CUTrentas$•ts 58.522 58,522 41.340 Cuffent Lrabllitie8 Credltors.. Amourrts falling duo wlihln one 12,501 12,501 8.906 Nèt¢urrent assetsllllabilthsl 46,022 46,2 434 Toldl neta8Sèt8 w li4bllili•g 46,022 45,02 Funds of thtr Qharity Unre5tri¢led Funds Restricled Funds 46,022 46,022 32.434 TOTAL 46.022 Thg fhanoal sla18ments were approved bythe Board of Trustse$ and aulhoriyed forissue cn 26 Juin 2025 Mrwiifrid Glrard Trustée
GRENADINE STATEMENTOF FINANCIAL ACTIVITIES Year Ended 31stAugust2Q24 LlnrÈstrl fun 10812 INCOMING RESOURCES (Note 21 other Income Invesknent Inu)me 98.010 412 98,010 412 94,981 103 TOTAL 98,422 95,0 RESOURCES EXPENDED (Note 3 Chariiablg AGtl%Ats"es 84,834 84,824 84.834 84.834 80.024 80,024 TOTAL NotlncomellEKponditsrel 13.508 13,588 15,0 Re¢on¢lilation of Funds- Total funds brought forw*d 32,434 32.434 17,374 Fund B¥lan¢e$ Gorriod fowward Thr022 32 46.022 34
GRENADINE NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st August 2024 1. Accounllng Policles Bas1$ of prèparlng tho financial slat•ments The financial stmgnts oflhe iarity, which is a publlc benefit entity under FRS 102. have been prepared In accordance ¥th the Charities SORP (FRS 1021'Accounting and Reporting by charils.. Statement of Recommènded Pracllce applicable tri ¢h8ritles preparing their accounts in acwrdance wlh the Financial Repotting Standard applicable in the UK and Republlc of Ireland {FRS 1021 {effective 1 January 20191,. Flnancial Reporting Standard 102 'The Financlal Repon9 Ststylard appllcable in the UK and Republic of Ireland. and the Charities A¢t 2011. The firiancial statements have been prepared under the histQTiGal cost convendon. Income All income19 recognised in Ihe Statem•nl of Financial AciNrtles once the charity has entiuement to the funds, It is probable that the income will be received and the amount can be measured f&liably. Expènditure Liabilities are re¢ognised a8 expenditure as soon as there is a legal or con5trudve obligauon ¢)mmittin9 the charity to that expenditure. il is Probable that a transfer of eeonomic beneffts 11 be required in settlemenl and Ihe amount of the obligation can be measured reliably. Expendllure Is aoUnt¢d for on an accruals b88is and has been classified Ltnder headings that aggregate all cost related to the category. Where costs cannot be directly attiibuled to particular heaJlng8 they have been allocalod to a¢tiVitS on a basis consistent with the use Taxatlon The charity 1$ exempt from tax on 118 charitable acllvilles. Fund ac¢ounting Unrestricted funds can be used In accordance wilh the charftable oblectlves at the discretion of the trusteos. Restricted funds can onty be used for partÉcular restricted purposes vAthln the objtets of the charity. Re$lriclions arise when $wcifj¢d by the donor orwhen knnds aro raisèd for particular restri¢ted purposes. Further explanalW)n of the nature and purpose of each fund 18 in¢ded in the notes to the financial statements.
GRENADINE IIOTES TO THE FINANCIAL STATEMENTS Year Ended 31stAugust 2024 Z Analysis of Incomlng Re$tte5 31mw2024 In¢ome Contrtbulioris Inveslment income TOTAL INCOME 98,010 412 98.422 94.981 103 95,084 3. Expgndlturè on Charltable Aetlviti Unrestrictad Rostrictsd Total funds funds 3110812024 otal funds 3110812023 Charitable Activitles Insurance Teachers Headteacher S¢hooVoffice rent Refreshments Social Fund Events and Compelilior Teaching supplles Telecom costs Administration costs Independent examiners fees 430 51.991 8,871 14.940 43D 51,991 8.871 14,940 494 659 2.763 2.494 754 358 1,080 84,834 412 49,786 8.198 15,217 381 200 1,515 2213 597 432 1,074 80,024 659 2,763 2,494 754 358 1,080 e4.834 3110812024 31108 Debtors: Amounts lalling due withln one year Trade Debtors 1,175 1.175 450 450 110 31108120 & Creditors: Amounts falling due within one year Other Cred*ors 12.501 12.501 8.906 8,906 6. Trustee R•munerdtion There were no trustees, rernunerali¢x or other benefi15 for the year ended 31 August 2024 no the year ended 31 August 2023. 7. Trusteè Expenses There were no trustees, expenses p8id for the year ended 31 Augus12024 nor for thè year en 31 August 2023. 8. Related Party Disclosures There were no lated party transacliot)s forthe year ended 31 Au911$12024.
GRENADINE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 This report on Ihg financial slalements of GRENADINE for the year ended 31 August2024, whtch are Set on pages 5 to 6 is In respect of an examinallon carrierl o(rt In accordance with s145 of the Charities Act 2011 Ilke Act). Respective responslbllities of the trn$te•$ and the examiner The charity's Iruslees are responsible for the preparation of the accounts. The charlty's trleeS conslderthat an audit is rtot requirèd forthis year underseclion 14412) of th8 Charities Acl 2011 (the 2011 M) or under Regulation 1011lld) of the Charitle8 Accounts (Scotlandl Regulatlons 2006 Ilhe 2006 Accounts Regulallonsl and that an Indepenclenl examination 1$ needed. It is my responsibli ily to.. examine the accounts under SeOn 145 of the Charities Act2011 and $ectEon 44111{cl of the Charities and Trustee Investment {S¢ollandl Act 2005 (the 2005 Acll lo follow the procedures laid down in the general Oltsctlons gwen by th8 Charity Commission under se¢tion 14515llbl of th9 2011 Act.. and to state whglher particular matters have come to my attenlon. Basis of independent examinerfs report Our examination was carried out in accordance with the General Directions glven by the Charity Comrnissloners. The examlnalion includes a ieview of the accounting records kept by the charity and a comparison ofthe aceDunts presented with those records. It also indudes considerolion of any unusual items or disclosure5 In the a¢counts and seeking explanatitsns from you as trustees concembng any such matters. The procedures undertaken do not provide all tho evidence fhal would be requlred In an audit, and consequenuy we do not expresg an audit opinion on the viaw given by accounts. Independent oxaminerf$ statsmgnt In ¢onn8clion wrth our examlnalion, no matter has come to our allenlS0n-. 11) whlch gives us rea¥onaLle cause lo believe Ihal in any rnaterial respect the r@quirements: to keep accounffng records in acc¢rdan¢e wilh stiC 386 of the 20GE Act.. and to prepare financial stalem8nts which accord wllh the 8ttOLJnting records and conwiy with the requlrements of the Acl.. have not been mèl,. lo whith, in our opinlon. att6nlrDn should be drawn in order lo en*le a propèr understandln9 of the accounts lo be reached.. or whi¢h glves reasonablè cause to believe that in any materlal regpect the ac¢ountlng of the chari RElIt don have not been mel. Gemma L Fogarty Flnsbury Roblnson Ltd 237 Westcornbe Hlll Blackhealh London, SE3 7DW Dats: 13th June 202S