Charity registration number: 1185734
GRENADINE TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
Finsbury Robinson Ltd 237 Westcombe Hill London SE3 7DW
Grenadine Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8—10 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities | 11 |
Grenadine Reference and Administrative Details For The Year Ended 31 August 2025
| Trustees | Mr N Desolino |
|---|---|
| Mr W Girard | |
| Mr R Meneghini | |
| Ms D Karagasheva | |
| Ms C Pradier | |
| Charity Number | 1185734 |
| Principal Address | 16 Coppelia Road |
| Blackheath | |
| London | |
| SE3 9DB | |
| Independent Examiner | Gemma Fogarty |
| Finsbury Robinson Ltd | |
| 237 Westcombe Hill | |
| London | |
| SE3 7DW | |
| Bankers | Lloyds Bank plc. |
| 25 Gresham Street | |
| London | |
| EC2V 7HN |
Page 1
Grenadine Trustees' Report For The Year Ended 31 August 2025
The trustees present their report and the financial statements for the year ended 31 August 2025.
Objectives and Activities
Aims and Objectives
The objective of Grenadine is the provision of a Saturday school for children who have a French speaking parent or carer or live in a French speaking environment but attend English speaking schools. The school aims to expand the children’s abilities to speak and write in French and give them exposure to the diverse cultures of the French speaking world.
Achievements and Performance
Main Achievements
The ongoing commitment of the teaching team is a key aspect of the Charity and therefore one of its main operational risks. The success of the Charity is also very much linked to the dedication of the Headteacher since the inception of the school.
The Trustees’ objective is to strengthen the school operating structure to mitigate potential departure of key stakeholders.
To that effect, Grenadine has recruited an administrative assistant to second the Headteacher for the administration of the school. In addition to this, a Manual has been created to explain the structure and the running of the school so that key details can be recorded and passed on to future stakeholders.
Grenadine has been able to provide consistency in terms of location for its Saturday school, with the use of John Ball Primary school’s premises for more than 20 years. The Trustees are mindful the rental agreement may cease one day, and the Charity will find itself in the obligation to find a new location, with potential rate increases. This is another strong driver for minimum financial reserves to ensure the ongoing concern of the Charity.
Additional Note
Future plans
Grenadine 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-East London French community.
External Risk
Grenadine’s development has for many years been intrinsically linked to the growing presence of French families in SouthEast London. Any demographic changes are therefore a key risk factor in the good running of the Charity. Number of children per class is continuously monitored to ensure the school structure and operating methods continue to be financially viable.
Governance Risk
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 necessary for a fresh perspective and a motivating outlook towards the future. However, it also means the success of the Committee is dependent on finding parents willing to invest their time, efforts and to bring their specific competencies to the Charity (events organisation, accounting, leadership).
The Committee seeks to keep the number of Trustees to a minimum of five and look for new members on a regular basis.
A minimum level of volunteering is requested from the parents (participation to the events, assisting the teachers on a Saturday morning), with the expectation that some of them will be interested in increasing their involvement and subsequently join the Committee.
Page 2
Grenadine Trustees' Report (continued) For The Year Ended 31 August 2025
Financial Review
Reserves Policy
Grenadine is keeping financial reserves aside to protect the Charity against periods of disruption (such as the one experienced during the Coronavirus outbreak), drops in income (fewer children attending the school) or unforeseen cost increases.The reserve is in place to mitigate negative financial impact and to ensure Grenadine can continue to honour its financial commitments without interrupting the good running of the school.
The minimum nominal amount of reserves is addressed on a yearly basis to ensure it continues to represent an adequate ratio of the full year costs (circa 25%-50% of the annual costs).
With current annual costs of around £96,000, the target is for the financial reserves to be above a minimum threshold of £25,000. This target has successfully been met for the year ended 31st August 2025.
Going Concern
The Trustees’ focus is first and foremost to ensure Grenadine can continue as a going concern.
From 2020 to 2022, the Charity went through two years of losses due to the impact of Brexit and the Coronavirus pandemic. The combined effect was a reduction in the number of children attending the school coupled with an increase of the running costs (online class support, cleaning, teachers’ assistants).
The Committee has carefully monitored the financial situation. Thanks to a series of mitigating initiatives, the Trustees are pleased that Grenadine was able to successfully deliver a positive net income for the years ended 31st August 2023, 31st August 2024 and 31st August 2025.
A remodelling of the fee structure and a general fee increase were agreed for the school 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 to inflation particularly on teachers’ wages and John Ball’s rental costs. The Committee upheld a consistent financial framework throughout 2024-2025, ensuring the school's accounts remained sustainable and healthy.
In addition to the school fees, other sources of fundraising were organised during the year: book fair, summer fair and partnership with a local bakery Chez Tonton Gilles. Those sources of fundraising are important to the school calendar as it also helps to reinforce the bonds between the school and the South-East London French community.
Additional Note
Financial Risk
The safeguarding of Grenadine’s funds and assets is one of the Trustees’ main missions.
The impact of Brexit and the Coronavirus outbreak on the Charity’s accounts have highlighted the importance of continuously managing the financial projections to ensure adequate levels of income and reserves. The school financial structure is vulnerable to increase costs such as school rent or insurance. These expenses will rise in 2025, so the committee will consider restructuring tuition fees to address the additional costs.
The Committee strives to find an adequate balance between income and expenses, revising and approving the school fees’ structure on a yearly basis.
Structure, Governance and Management
Governing Document
The Charity is controlled by its governing document and became registered on 10th October 2019 as a Charitable Incorporated Organisation (CIO) with the Charity Commission for England and Wales.
The Trustees work towards providing the school with a sustainable financial and operational framework to strengthen Grenadine’s legacy.
Page 3
Grenadine Trustees' Report (continued) For The Year Ended 31 August 2025
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr R Meneghini Trustee 12th June 2026
Page 4
Grenadine Independent Examiner's Report to the Trustees of Grenadine For The Year Ended 31 August 2025
I report to the trustees on my examination of the accounts of Grenadine (the Trust) for the year ended 31 August 2025.
Responsibilities and Basis of Report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Gemma Fogarty 12th June 2026 237 Westcombe Hill London SE3 7DW
Page 5
Grenadine Statement of Financial Activities For The Year Ended 31 August 2025
| Notes INCOME AND ENDOWMENTS FROM: Charitable activities: Charity Services Investments 3 EXPENDITURE ON: Charitable activities: 4 Charity Services NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10 |
2025 Unrestricted funds £ 103,538 396 |
2024 Unrestricted funds £ 98,010 412 |
|---|---|---|
| 103,934 | 98,422 | |
| (97,301) | (84,834) | |
| 6,633 | 13,588 | |
| 6,633 46,022 |
13,588 32,434 |
|
| 52,655 | 46,022 |
The notes on pages 8 to 10 form part of these financial statements.
Page 6
Grenadine Statement of Financial Position As At 31 August 2025
| Notes CURRENT ASSETS Debtors 8 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 9 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 10 On behalf of the board Mr R Meneghini Trustee 12th June 2026 |
2025 Unrestricted funds £ 8,196 53,951 |
2024 Total funds £ 1,175 57,347 |
|---|---|---|
| 62,147 (9,492) |
58,522 (12,500) |
|
| 52,655 | 46,022 | |
| 52,655 | 46,022 | |
| 52,655 | 46,022 | |
| 52,655 | 46,022 | |
| 52,655 | 46,022 | |
The notes on pages 8 to 10 form part of these financial statements.
Page 7
Grenadine Notes to the Financial Statements For The Year Ended 31 August 2025
1. General Information
Grenadine is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1185734. The principal address is 16 Coppelia Road, Blackheath, London, SE3 9DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
2.2. Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
2.3. Resources Expended
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
2.4. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
3. Investment Income
| Bank interest receivable . Analysis of Expenditure Charity Services Charity Services |
Activities undertaken directly £ 75,212 |
2025 Unrestricted funds £ 396 |
2024 Unrestricted funds £ 412 |
|---|---|---|---|
| Support costs (see note 5) £ 22,089 |
2025 Total £ 97,301 |
||
| Activities undertaken directly £ 65,263 |
Support costs (see note 5) £ 19,571 |
2024 Total £ 84,834 |
4. Analysis of Expenditure
Page 8
Grenadine Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
| 5. Support Costs Employee costs Premises expenses General administration Employee costs Premises expenses General administration 6. Independent Examiner's Remuneration Independent examination of the financial statements 7. Average Number of Employees Average number of employees during the year was: NIL (2024: NIL) 8. Debtors Due within one year Other debtors 9. Creditors: Amounts Falling Due Within One Year Other creditors Accruals and deferred income |
2025 £ 1,134 2025 £ 8,196 2025 £ 1,713 7,779 9,492 |
2025 Charity Services £ 762 18,182 3,145 |
|---|---|---|
| 22,089 | ||
| 2024 Charity Services £ 293 14,940 4,338 |
||
| 19,571 | ||
| 2024 £ 1,080 |
||
| 2024 £ 1,175 |
||
| 2024 £ 5,804 6,696 |
||
| 12,500 |
Page 9
Grenadine Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
10. Movement in Funds
| Unrestricted funds General: General unrestricted fund Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 September 2024 £ 46,022 |
Income £ 103,934 |
Expenditure £ (97,301) |
As at 31 August 2025 £ 52,655 |
|---|---|---|---|---|
| 46,022 | 103,934 | (97,301) | 52,655 | |
| As at 1 September 2023 £ 32,434 |
Income £ 98,422 |
Expenditure £ (84,834) |
As at 31 August 2024 £ 46,022 |
|
| 32,434 | 98,422 | (84,834) | 46,022 |
11. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
12. Related Party Disclosures
There have been no related party transactions in the reporting period that require disclosure.
Page 10
Grenadine Detailed Statement of Financial Activities For The Year Ended 31 August 2025
| INCOME AND ENDOWMENTS FROM: Charitable Activities: Charity Services Contributions Book Fair Summer Fair Sundry Income Investments Bank interest EXPENDITURE ON: Charitable Activities: Charity Services Teachers Fees Headteacher Fee Teaching Materials Summer Fair costs Book Fair costs Social Fund Staff entertaining Rent Insurance Printing, postage and stationery Refreshments Administration costs Telecom costs Independent examiner's fees Sundry expenses NET INCOME |
2025 Total funds £ 100,455 312 1,904 867 |
2024 Total funds £ 95,894 436 1,680 - |
|---|---|---|
| 103,538 396 |
98,010 412 |
|
| 396 | 412 | |
| 103,934 (60,406) (9,661) (3,519) (1,599) (27) - (762) (18,182) (571) (100) (217) (321) (611) (1,134) (191) |
98,422 (51,991) (8,871) (2,494) (1,148) (100) (659) (293) (14,940) (430) (1,222) (494) (358) (754) (1,080) - |
|
| (97,301) | (84,834) | |
| (97,301) | (84,834) | |
| 6,633 | 13,588 |
Page 11