THE GODOLPHIN AND LATYMER SCHOOL
BURSARY FUND
FINANCIAL STATEMENIS
FOR THE PERIOD ENDED 31 JULY 2021
Registered Charity No: 1187911
Hoysma¢iMyre LLP
Chartered Accounlants
Registered Audiiors

THE GODOLPHif4 AND LATYMER SCHOOL BURSARY FUND
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2021
CONTENTS
P¥Jge
Repon of the Trustees
Retrf)rt of the independent audit(Ys
Staiement of financial activiiies
Balance sheet
10
Statemeni of cash flows
Noies lo the financial sthiemenls
12- 17

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
REPORT OF THE TRUSTEES
FOR THE PERIOD ENDED 31 JULY 2021
The Trusttts present their annual report and the audited financial swements for the period frorn 12 February 2020 to 31
July 2021.
REFERENCE AND ADMINISTRATIVE DETAIIS
Tru$te¢s
C S H Hampion (Chair) (appoimed 20 F¢bnwy 2020)
S A Davies (appointed 20 February 2020)
Mrs C R Mercer (appointed 20 February 2020, retired 22 June 2021)
The Lady Patten of Barnes (appointed 20 Febnw 2020)
Dr F M R Ramsey (appointed 20 February 2020)
Miss M F Rudland {ap￿)Inted 20 Febnwy 2020)
J M Dunn lappoinied I S June 2021)
Setretary
Mrs D M Lynch
Address
The Godolphin and La¢ymer Schwl
lffley Road
Hammersmith
London W6 OPG
Auditors
Haysmaciniyre LLP
10 Queen Street Place
London EC4R IAG
B*nker5
HSBC
21 Kings Mall Stre¢t
Hamtn¢r5mith
London
W6 OQF
Investment Advlsers
Quilter Cheviot
St Helen's
l Undershaft
London EC3A 8BB

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
REPORT OF THE TRUSTEES
FOR THE PERIOD ENDED31 JULY 2021
STRucfuRE, GOVERNANCE AND MANAGEMENT
Hlstory) Constitution and Trusttt5
The Godolphin and Latymer School Bursary Fund I'l￿ Fun(r') Wds e5tsblished on 12 February 2020 as a Charitable
Incorporate Organisaiion (CIO). The Fund was previously registered with the Charities Commission under the regislrdiion
of The Godolphin and iatymer School Bursary Fund (Charity Nurnber 1080912). On 31 August 2020 the nei assets of
Godolphin and Latymer School Bursary Fund (charity n￿rn￿r 1080912) were transferred io rhe fund. Its Trustees are
empowered io apply the capttal and income of the Tru￿ in the advancement of ihe charirable objects of The Godolphin
and Latymer Foundation {"the FouTKiation"l and The GINJolphin and taiymer School ('Mhe School"), and of education
generdlly including the esrablishm¢nt of 5¢holarships, exhibitions and bursarie5 for ihe sch￿1, and by expenditure on the
objects or purpose5 associated with the Foundation or School and Ftople connected with the Foundation or School,
pmvided such objects or PUTP)ses 8re exclusively charitsble.
Trn$tees
The Governing Body of Godolphin and L2tymer School has rhe wTrwer to appoint only two of the Trusiees ("Nominated
Trusiees"), and under which only a minoriiy of Tn￿lee$ may be nominated by the School. Nominated Tn￿1¢¢$ and
oiheTS ("Co-Opied Trustees") serve for four year4 and may be re-apw)inted for a further rerni of four years and. in
exceptional circumstances, for a third swh tenn.
"rho Nominared Trusiee5 appointed by the Governots of the School are:
S A l)avies
Dr L Magrill
All other Tn￿tee$ {as sknwn on the pr¢viou5 page) are C{￿0￿med Trnstees.
Recruitment and Training ofTrust¢e$
The Fund's elected Trusiees are apwinled at Trii8tee rneetiTtg5 on ihe basis of relevant experience, based on
r£¢ommendations by other Twsiees. Appropriaie Irdining is made available to new and exisiing TTU5tees.
Orgathisalional Management
The Trusiees are legally responsible for rhe overdll management and control of the assets and income of the Fund. The
Inv¢stment Committee of the Fund r¢ceives quarterly reports from the Investmeni Manager5, Quilter Cheviot. and meets
three times a year ro asses5 Ihe financial perfomance of the portfolio. in order to ensure sufficient protection of capital
and adequacy of income. The Tw*ees approv¢ the sums made available io the School as means-tested buwries or for
any other purposes, including loans.
PriTrcipal rl$ks and uneert*inties
The T￿SteeS are respon5ibl¢ for overseeing Ihe risk managemeni proces5. The major risks ¢enire on financial and
regulatory matters, which are considered by ihe Invesimeni Commillee ihree limes a year. This enables the sysiems and
procedure5 that control and mhtigate risks io be discussed as necessary. and rewTrrted to the Trustees.
Through the risk matydgemeni proce&se5 emablished the Tn￿5 ar¢ gtisfied ihat ihe major risks identifKd have been
mitigated where necessary - li being Tecognised, however. thai systrms ¢an only provide reasonable and nol absolute
assurdnce ihai major risks have been adequalely managed.

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
REPORT OF THE TRusfEES {eoDtillthed)
FOR THE PERIOD ENDED 31 JULY 2021
Prineipal risks *nd uneertainties (eontinued)
The Trusiees identified ihe following as the main areas of risk:
Insufficient income generdted from a low return on the inve5tment5 ov¢r5een by ihe Investment Managers. In order to
mitigate the risk the yield from the portfolio is reviewed bythe Investment Sub-comrnittee through regular reFMirts and
through meetings with the Invesuneni Managers. The invesiment portfolio is reviewed regularly and the investment
strategy is amended if requiied.
The Godolphin and Latymer Foundation and Godolphin and Latymer khool being unable to meet the capifal an(Vor
interest repayrnents on th¢ loans from the Fund. The Chairnian of the Bursary Fund Trustees is in attendance at th¢
School'5 Finance Committee rneetings and is awdre ofthe financial posithon of Ix)th the Foundation and the S¢hool,
its budgeling proces5 and cash flow projections. The lopn5 frorn the Fund are r¢view¢d at ea¢h of th¢s¢ rn¢eling5.
Related Parties- The Godolphln And Iatymer FouAdation and The Godolphin and Latymer School
Both the Foundation and the School are sepame chariiies. The School makes substantial awards as bursaries each year
and the Fund supplements the sum available for burwies. A5 stated above. the School Governors have the right to appoint
two Trustees to the Fund: other Governors may serve a5 Trusiee5 provided that Governor5 do not constitute the majority.
As investments, the Fund has provided loans to both the Foundation and the School.
Objects
In furtheran¢e of the Fund's objects. the Trustees look to increage the capital of the Fund by seeking donations and to
prote¢t ond. $0 far as possible. enhan¢e the income ofthe Fund to enable it to support th¢ School's poli¢y of making
available means-tested bursaries to pupil$ on ¢ntry to the S¢hool. The Trusiees endeavour to increase their support io
mai¢h ihese needs.
During the period, th¢ Trustees provided £23.085 in supm of the SC￿oI,s own provisions for bursarie5.
Objectives for the ye*r
To provide sufficient income from the PL¥tfolio, as well as maintsining capiial value. in order to provide frjr bursary
support requested by the School.

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
REPORT OF THE TRUSTEES {￿ntInued)
FOR THE PERIOD ENDED31 JULY 2021
REVIEW OF ACHIEVEMENTS AND PERFORMANCE
The Fund was able io coniribule lowards to the provision of mrdns-tes*d bursaries for 83 girls in the School during the
academic year 202(k2021.
FINANCIAL REVIEW
The Fin•n¢i*l Resuhs
The Financial Sialements for the period ended 31 July 2021 are published with thÈs report. They are prepared a$ requityd
under the Sratement of Recommended Practi¢e applicable io charities preparing their accounis in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). Second edition- eifeciive l January
2019.
The Fund achieved a nei SUTpIus of income for the year from realised income and expendiiuTe before gaing on investments
of £268,862. Nei realised and unrealised gains on investment5 amounted io £1.034,370. This has resulted in an overall
surplus before transfers in The year of £1.303.232.
The transferof the assets li4bilili¢s and a￿]ville$ from the Godolphin and Lat￿Ther School Bursary Fund (Charity nwnber
1080912) to ihe Godolphin and Laiymer Schwl Bursary Fund (charity number 1187911, charitable hncorporaied
orgjnisaiion number CE020666) of £1 1,063,583 was made on 31 August 2020.
Invtstment power& policy aDd perform8nLY
The Tn￿1¢¢9 have apwinied Quilier Ch¢viot as Investmeni Managers. The aim is io maintain and if possible io increase
th¢ real value of the monies invesied over ihe long terni. The Trnste¢5, through their Investment Committee, are presently
utilising a Spread of the Fund invesimenls as to approximately 44(*/ti in quoted stocks and 564/0 in fixed inieresi siock
orpordte and commercial propeny bonds, loans to the Foundation and the School. and c8sh at bartk. The loans to the
Foundaiion and th¢ School are ai a commercial ra* of inierest.
The Trusiees receive quarterly re￿rts from the Inve5trnent Managers and th¢ portfolio reiurn is measured against
composite benchmark consi5lin8 of Ihe FtSE All Share al￿ Ff InvesimeDI Companies. Indices in the a55¢t allocation
stated above.
In the opinion of the Trustee¥ the Fund Ilas p¢rforned saiisfaciorily. The Covid-19 pandemic undoubtedly had an impact
on th¢ investment perforrnaneeand li is likely that intht fuiure. Ihe sarne kvel of k)ng-terni growth will not be experienced.
Reserves policy
The Tru5tee5 regularly review the level #nd nature of ihe reserve funds #nd invesimenis of ihe Fund. The Fund's aim is
to continue to enhance the fund so ih#t it ¢8n cominue support for buTsarits have already been awarded and for those
that will be Theeded in the fijiure.
A permaneni endowmeni was ￿tablIShed in 2(106 ihrough a donation from the faih¢r of an old pupil of the School. The
gift was made in perperuiiy to Fund 10 suppon pupils ai the sch(M)l in the form of bursaries. All relaied iDcorn¢ and
expenditure is pui ihrough a related restricted fund. All ￿mainIng funds are hekl as unrestricted funds, cornprisin8 the
gener41 Bursary Fund.
Grant-m*klng pollcy
Applications for bursarhes are assessed by the Sch(xyl awards are rn￿e in line wilh agreed criteria. The Fund allocates
funds annually by referenc¢ io its inve51rnent ￿)IEtY and rdurns and by r¢ference to ihe School's requirements.

THE GODOLPHJN AND LATYMER SCHOOL BURSARY FUND
REPORT OF THE TRUSTEES (eontlnued)
FOR THE PERIOD ENDED 31 JULY 2021
PUBLIC BENEFIT
The Charities Act 2006 withdrew the previous legal presumpiion that education in itself offered benefit to the public at
large. Thai Act now places an obligaiion on ihe charity to demonstrate ihai it provides'Publio Ben¢fit' as part of its sUPPOrt
for education as a charity in a fee-charging environmenL
In setting the Fund's objectives and in their financial support for means-t¢st¢d bursories for the S¢hool, the T￿st¢eS have
paid due regard io the Public Benefii guidance published by ihe Ch8rity Commis$ion.
The Trusitts recognise the Sch(KJl's place in the wider community and wish to facilitate acce55 to the education provided
by the School. The School supports Work with and for th¢ benefit of other5 Outside the School. and provides means-tested
financial assistance on fees- funded by the School out of turrent school fees, by the Fund and by ￿her benefactors. The
School's policy is described in IL% aeeounts f(￿ the ended 31 Augum 2021.
STATEMENT OF TRUSTEES. RESPONSIBILITIE5
The Trust¢e5 are responsible for preparing the Report of the Trusttts and the financial statements in accordance with
applicable law and United Kingdom Accounting Stsndards (United Kingdotn fjenerdlly Accepted A￿OuntIng Practice).
The law applicable to chariiies in England & Walesrequirt% the trusttts lo prepare financial statements for each financial
year which give a tTue and fair view of Ihe slate of affairs of th¢ charily and of the incoming resources and application of
r¢wur¢es of the charity for that period. In preparing these financial stal¢m¢nt4 the tTUSttts are required to..
select suitsble accounting policies and then apply them consistently-
observe the meiho(ts and principles in the Charities SORP-
make judgernenis and estimaies thai are reasonable and prudent"
state whether applicable accounting thndards have l%en followe(L subject io any m&erial {￿part￿ dis¢losed and
explained in the financial staiements;
prepare the financial ststements the going concern basis unless li is inapprowiate io presume that the charity will
continue in 0￿ratIon.
The irusi¢es are responsible for keeping rffoperaccouniing records that di5c105e with reasonable accuracy at any lime the
financial position of the ¢harily and enable ihem io ensure that the financial slatements comply with the Charili¢s A¢t
201 I, the Charity (Accounts and Reports) Regulations2008 and th¢provi5ion50f the tnjst deed. They ar¢ alsoresponsible
for 5af¢guarding ihe a55eis of the chariiy and hence for taking reasonable 5tep5 for rhe prevention and detection of fraud
and oih¢r iTregularilie&
Signed on behalf of ihe trustees
Cliffo
Trnstee
13 January 2022

REPORT OF THE INDEPENDENT AUDITOR'S TO THE TRUSTEES OF
THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
Opinion
We have audited the financial ￿￿ements of Glmlolphin and Laiymer School Bursary Fund foT the period ended 31 July
2021 which comprise Statemeni of Financial Aetivities, Balance Sheet. Siaiement of Cashflows und notes io the financial
sraiemeni& including a summary of significant accounting policies. The financial r¢portin8 fraTnework thai has been
applied in their preparation is applicable law and Uniied Kingdom Accounting Standards. including Financial Reporting
Standard 102 The Finonciol Reporling&andardapplic&ble inihe UKandRepvblic oflreland(Unired Kingdom GeneTally
Ac¢¢pted A￿ounting Practhce).
In our opinion, the financial siatemenis=
give a tn￿ and fair view of ihe stsie of the chariry's affair5 85 * 31 July 2021 and of ihe charity's net mov¢rN¢nt
in funds for the year t￿￿ ended:
have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting PrJctice' and
hav¢ been prepared in accordance with ihe requirements of the Charities Aci 2011.
Basis for OPiDlOn
We have ￿en appointrd a5 auditor under seciion 144 of the Charities A¢t 2011 and report in accordance with the Act and
relevant regulation5 made or having etTeci ihereunder. We conducted our audit in accordance wilh Iniernational Standards
on Auditing IUK) (ISAS (UK)) and applicable law. Our re5pon5ibilities under those standards are ￿rther described in the
Auditor's re5pon5ibilities for the audit of the financial xaiemcnts section of our repon. We are independent of the charity
in accordance with the dhical requiremenis that are relevant to our audii of the financial statements in the UK, including
(he FRC'5 Ethical Standard. and we have fulfilled ow other ethical reswjnsibiliiies in accordance with these requirements.
We believe that the audit evidence we have obtained 15 sufficient and appropriaie to provide a basi5 for our opinion.
Conclusions relating to going eoncern
In iiuditing the financial statements, we have concluded ihai ihe tTUStees' use of the going eoncem basis of accounting in
Ihe preparaiion of the ftnancial yatemenis is appropriaie.
Based on the work we have perfom)ed. we have nol identified any material uncertainties relating to evenls or conditions
that. individually or collectively. may casi si&Dnificani doubt on the tharity's ability ro coniinue a5 a going con¢ern for a
peri(Kl of at least twelve months from when ihe financial sttttements are auihorised for issue.
Our resp)nsibiliiies and ihe responsibilities of the irusttts with respeci io going concern are described in the relevani
sections of ihis report.
Other Informjtio
The t￿Stee$ are responsible for ihe other inforniaiion. The oih¢r inforn)ation comprises the informaiion included in the
Truslees, Report. Our opinion on the financial sraiements d￿$ not ¢over the oiher inforniaTion and, except to the extent
otherwise expli¢itly stated in our report. we do not express any forni of assurdnce conclusion thereon.
In conn¢ction with our audil of the finwKial statements. our responsibiliiy is to read the other infortnation ajbj, in doing
so. consider whether The other inforniaiion 15 rnaterially inconsisieni with the financial slatetn¢nt5 or our knowledge
obtained in the audii or otherwis¢ appears to be maierially misswed. If we ideniify such material inconsisiencies or
apparent material mi551atements, we are required io deierniine whether there is a malerial missiaiemeni in the financial
statemenis or a maierial missiat¢rnenl of the other infomaiion. If. based on the work we have perfom)ed. we conclude
that ihere is a material misstai¢ment of this other inforni*ion, we are required to report ihat faci. We have nothing to
report in this regard.
Matters o* whleh wt aye required ¢0 report by exeeptlon
We have nothing to report in respect of the following matters in relation io which ihe Charities (Accounts and Reports)
Regulations 2008 require us io repon to you if, in our opinion:
adeqU￿e accounting records have n(rf been k¢pt by the chariiy- or

REPORT OF THE INDEPENDENT AUDITORSTO THE TRu￿EEs OF
THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
sufficient accounting records have not been kept- or
the chari(y financial swements are not in agreement with the #¢counting r¢¢or(ts and returns; or
we have not received all the infornwion and explanations we ￿quITe for our audit.
Respon51bllitle5 of trus¢ees for the fin*nei#l statements
As explained more fully in the irustees. responsibilities siaiement sei out on page 5. the trustees are responsible for lh¢
preparntion of ihe financial statements and for being satisfied th* they give a true and fair view. and for such internal
control as the tru5tee5 d¢temine is nettssary io enabk the prepar*ion of finan¢ial statements thai are free from material
mi551atemenL whether due to fraud or error.
In preparing the finan¢ial Statemen￿ the trustees are respO￿lb]e for assessing the ¢harity's ability io continue as a going
concern, di%losin& as Applicable. matters r¢lat¢d to going ¢on¢ern and using the going concern basis of a¢¢ouniing unless
the trustees either intend to liquidate the charity or W ¢¢&s¢ op¢ration& or have no reali41¢ altern￿1ve bu¢ to do so.
Auditor's responslbilities for the audit of the financial statemtmts
Our objectives are to obtain reasonable assurance aEKJut whether ihe finan¢i#l 5talement5 as a whole are fr¢¢ frotn Tnaterial
missiaremenL whether due to fraud or error, and to issue an auditor'5 report that include5 our opinion. Reasonable
assurdnce is a high level of assurance, but is nol a guardniee that an audit conducted in accordance with ISAS (UK) will
always detect a material missthtement when it ex]￿$. Missiatements can arise from fraud or error and are considered
material if. individually or in (he aggregare. they could reasonably be expecied io influence the economic decisions of
users taken on the basis of these financial sthtements.
Irregularities, including fraud, are instance5 of non-complvdnce with laws and regul*ions. We design procedures in line
with our responsibilities, outlined above, to deteci maierial missMement5 in respect of irregulariiie& including fraud. The
extent to which our procedures are capable of deieciing irregularities, including fraud is detailed ￿low..
Based on our und¢r51anding of the charity and the environment in which it operdie5, we identified that the principal Tisks
of non-compliance with laws and regulaiions related io charily law and fundrdising regUl￿7￿nS, and we considered the
extent to which non-compliance might have a m￿trial effect on the financial S￿leMentS. We also considered those laws
and regulations that have a direct impaa on the p￿paratIon of the finan¢ial $￿eMents such as the Charities Act 2011.
W¢ ¢valuated mana8¢m¢nt's inc¢ntive5 and opportunities for fraudulent manipulation of the financial statements
(including the rigk of override ofconirols). and deiemiined thai the principal risks were related to the improper recognition
of revenue and management bias in accouniing c￿lma[C$. Audit procedures perforn)ed by th¢ ¢ngogem¢nt team in¢lud¢d:
Tailored natrdiive here but consider the following
Inspecting Co￿eSpOndence with regulators and tax auihrrities-
Discussions with management including ¢oL4ideration of known or suspecied instances of nonrycompliance with
law5 and regulation and fraud;
Evaluating management's controls designed to prevent and detect Irregularities;
Identifying and testing journals, in particular journal eniries wsted at year end; and
Challenging assumption5 aNJ judgernenis m&le by management in iheir criiical accounting esiimaies.
A further des¢ripiion of our responsibilitie5 for the audit of the financial ststemenis is located on the Financial Reporting
Council's website at-. w
. This description fom)s part of our auditor'5 report.
Use ofour report
This report is made solely to the Charity's Irusiees as a tw)dy. in accordance with sectitsn 144 of the Charities Act 2011
and ￿gUlatIOnS made under 5eclion 154 of rhai Acr. Our audii work has been undertaken so that w¢ rnighi slate to ihe
charitYs trustees those matters we are required io stsie to them in an Auditorfs report and for no

REPORTOFTHE INDEPENDENT AUDITORS TOTHE TRUSTEES OF
THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
other purpose. To The fullesl exterbt pennitted by law. we do noi accept or assume re5pon5ibility to anyone oiher than the
charity'5 trusiees a5 a trfjdy for our audit worK for this repoo or for ihe opinions we have forme
LLLR
Haysmacinly￿ LLP
Statutory Auditors
10 Queen Street Place
London
EC4R IAG
26January
. 2022
Hay5macintyre LLP i5 eligible to a¢t as audiior in tern￿ of section 1212 of the Compantes Act 2(Mkn.

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
STATEMENT OF FINANCIAL AcfIviTIES
FOR THE PERIOD ENDEDJI JULY 2021
For the
period ended
31 July 2021
Total
Unrestricted
Funds
Restricted
Fund
Endowrnent
Fund
Nott
INCOME AND ENDOwmE￿s
FROM:
Investment5
Donations
Other income
259,761
54.166
5.600
1.389
261,150
54,166
5,600
Total income
319.527
1,389
320.916
EXPENDITURE ON:
Raising funds..
Inveslment Manager's fees
23.597
23,597
Charitable activities
28.457
28.457
Total expenditure
52,054
52,054
Nel income before iains o#
inYe5tmen¢s
267.473
lJ89
268.862
Net gains on investments
1,034,370
1.034,370
Net income before trdnsfrr
1.301.843
1.389
1.303.232
Transfer of assets from predecessor
entity
14
10.743.837
1.666
318,080
11.063,583
Iyet movement in funds
12.045,680
3,055
318.080
12.366,815
Balance brought forward
Balance carri¢d forward at 31
July 2021
12.045,680
3,055
318.080
12,366.815
Th¢r¢ were no recognised gain5 and losses other than those included above.
The ￿cOmpanY1ng notes forni pan of these financial statements.

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
BALANCE SHEET
ASAT31 JULY2021
2021
Note
FIXED ASSETS
Investments
Investment property
6.166,886
I.865.0￿j
CURRENT ASSETS
Cash and bank balances
Lkbtors
1.835.360
622.390
2.457.750
CREDITORS.. fallithg d•e
wilhiTh one yfar
10
(2,821)
NET CURRENT ASSETS
2,454.929
DEBTORS: AIn0￿￿t$ f8lllng due i
more than one year
1.880.000
NET A&SETS
12,366,815
Representing:
Unrestricted fund5:
General Fund
12,045.680
Restricted funds:
Godolphin & Latymer Sch(KJl bursary
fund
Endowment fund:
Pemianent endowment
3.055
318,080
TOTAL FUNDS
12,366.815
The financial statements were approved and auth0ri5ed for i55u¢ by the TnI￿tts on 13 January 2022 and were signed
below on its behalf by..
ampton
Trustee
The accompanying notes forni part of th¢s¢ financial sthiernent5.
10

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
STATEMENT OF CASH FLOWS
AS AT 31 JULY 2021
For the
period ended
31 July 2021
Total
Note
Net cash outflow from oper741ioDs:
Net ¢ash used in operations
(186,938)
Cgsh tlow$ from Investing aetlvities:
Income from investmenis
Purchase of investments
Sale of inve5tment5
261,150
(789,465)
1.154.016
Net cash PTovMled by investing aetlvltles
625.701
Ch4ng¢ in ¢4$h and eash equivalents in the repDrtiig peri￿1
438,763
Cash ond cosh equivalents at ￿gInnIng of period
Cash transferred from predecessor enriiy
1.396.597
Cash and ¢ash equivalents ai end of period
1.835.300
RECONCILIATION OF NET MOVEMENT IN FUNDSTO
NET CASH INFLOW FROM OPERATIONS
2021
Net movement in funds trrtfore transfer
1,303,232
(187.606)
(7.044)
(261,150)
11.034,370)
Increase in debtors
Increase creditors
Interest and dividends
Gains on investments
Net cash outflow from operations
(186.938)
ANALYSIS OF CHANGES IN CASH AND
CASH EQUIVALENTS
At
12 February
2021
Other
Change5
At
31 July 2021
Ca$hllows
Cash and cash equivalents
Deposit accounts
118,319
1.717,041
118,319
1,717,041
1,835.360
1,835.360
A debt reconciliaiion note ha5 not been presented as the chariiy has no debt.

THE GODOLPHIN AND LATYMERSCHOOL BURSARY FUND
NOTES TO THE FINANCIAL STATEMEN15
FOR THE PERIOD ENDED 31 JULY 2021
ACCOUNTING POLICIES
Basis of Preparation of th¢ Finanei*l Statements
The charity is a Public Benefit Eniity registered as a charity in England and Wales, it was registered in February
2020 {chariiy number.. 1187911)-
On 12 February the Godolphin and Latymer Sch(rt)l Bursary Fund was established as a CIO. The first period of
accounts was from 12 February 2020 to 31 July 2021. On the 31 Augu512020 The Godolphin and L￿ylner S¢hool
Bursary Fund (charity number 1108912) irnnsferred all its activilie4 85sets and liabiliiies. including restricted and
endowment funds to the Fund.
The financial siatements have been prepared in accordance wilh ihe Financial Reporting Standard applicable in the
UK and Republic of Ireland {FRS1021. and the Statement ofRecommended Praciice applicable to charities preparing
(heir accounts in accordance wilh the Financial Reporting Siandard applicable in the UK and Republic of Ireland
(FRS 102) - effective l January 2019 (Charities SORP (FRS 102) Second Edition). The financial statements have
been prepared 10 give a'lnje and fair. view and have departed from the Charities (Accounts and Repons) Regulations
2￿8 only to the extent required io provide a'irue and fair vi¢w'. This departure has involved following Accounting
and Reporting by Charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 102) rather than ihe Accounting and Re￿rtIng by Chariiies.. Statemenl of
Recommended Pra¢ti¢e effective from l April 2005 which has sin¢¢ been withdrnwn.
The financial siatemenis are drawn up undeT the hislorical cost convention except that investments ar¢ ¢arried at
markd value.
Going conce
Havin8 reviewed ihe funding facilitiesavailable tothecharityiogeiher wilh the ¢XF*rted future projeeied cash flow
the Trustees have a reasonable expectation that the Chariiy has adequaie re50uwe5 to ¢ontinue its activiiies for rhe
foreseeable future and consider that there were no maierial uncertainties over the Charily's financial viability.
Accordingly. they also adopt the going concem basis in preparing the financial statements.
Critieal aceounting judgemenls key so￿ree9 of estimation un¢¢rt•inty
In the application of the accouniing policies. Trusie¢5 are required io rnake judgemeni. esiimaies, and assumptions
about the carrying value of assets and liabiliiies that are not readily apparent from oiher sources. The estirnates and
underlying assumpiions are based on historical experience and oiher facioTS ihai are consid¢r¢d to be relevant. Actual
results may differ from these estimates.
The estim￿eS and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the peri￿ in whi¢h th¢ estimate is revised if the revision affects only that period. or in the period of
the revision and future period5 if the revision affected ¢urreni and future periods.
In the view of the Tn￿lee8 no assumption5 conceming the fuiure or estimation uncertainty affecting asset5 or
liabilities at the balan¢¢ Sheet datc are likely to result in a material adjustment to their carrying amounts in the n¢xt
financial year.
The followingaccounting p)licies have bttn applied ¢￿SistentlY in dealing wilh iiems which are considered material
in relalion to the eharity's financial staiemenls.
Funds
Unrestricted funds are funds that ¢¥n be used in accordance wilh the charit4bl¢ objects at the discretion of the
Trustees.
Restricted ￿ndS are fvnds re¢¢ivabk for. and their use restricted, lo a sprfific putpose. Related expendilure is
Charged to that fvnd.
Pemanent eTKlowmeni fjjnds are resriaed ￿ndS where ¢4)ital may noi be converted to income.
12

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
NOTES TO THE FINANCIAL STATEMENTS l¢onti*ued)
FOR THE PERIOD ENDED31 JULY 2021
ACCOUNTING POLICIES (Continued)
DonatiOllS• grants and legAcies
Voluntary incom¢ 15 accounted for as and when eniitlemeni arises. the amounl can be reliably quantified and the
economic benefii to the charity is ¢on$id¢rtd probable.
Investment income
Investment income from dividends. baT)k balances, loans and depisif accoun15 is accounted for on an accrua15 basis.
Grgnt exptndlture
Grdnts are included as eX￿ndItUre in th¢ peTiod for whi¢h an unconditional award is made by the Trustees.
Expendltu
Expenditure is accounted for on an accruals basi5 and include5 irrecoverable VAT which is reponed as part of the
expenditure io which it relates.
Costs of raising funds consist of investsnent management fees. Charitable activiiies relate to costs in¢uTred in deli￿1ng
the ¢harity'5 activities and services io lis beneficiariesaThJ consist mainlyofihe annu￿ granistothe school. GovemaTKe
costs are cosis incuJTed in meeting the consi11￿10nal and sthtutory requirements of the charity.
FinanclHI instruments
Basic financial instruments are initially recognised ai ￿sa¢ll0n value and subsequently measured at amortised c05t
Wlth the exception of investments which are held ai fair value. Financial assets held ai amonised cosr comprise cash
at bank and in hand. together wilh other debtors. A specific provision is made for debts for which recoverdbility is
in doubt. Cash ai bank and in hand is defined as all cash held in insiani access bank accounts and used as working
capital. Finan¢ial liabililies held ai amortised ¢ost comprise of accrual
Jnvestments
Inve51ments are valued in the balan¢e sheet ai closing pri¢e at the ba]an¢e sheet date.
Realised gains are the diff¢ren¢e ￿tween sales pw*eeds and opening market value wher¢ the investment was held
at the beginning of ihe year, or 5ale5 proceeds less C05t of purchase where the investment was acquired in the year.
Unrealised gains are the change in value of inve51rnents after taking inio accouni any movemenis in investment
holdings such as purchases and disposals of invesimenis.
Realised and unrealised gains are accounted for within the Statement of Financial Athiviiies.
Investment Property
Investment properties are initially measured ai cost and subsequenily measured al foir value. Changes in fair valu¢
are recognised in the Statement of Financial Activities.
Debtors
Debtors are recognised at the settlement amount du¢ after any dI￿O￿nI offered. Prepayments are valued ￿ the
amouni prepaid net of any trade dis¢owits due.
CTedi¢or$ and provi$ions
Credi(ors and provisions are recognised wheft the Charxty h&$ a present obligation resulting from a past event that
will probably result in the transfer of fundsto a third portyand the amount due to settle the obligation can be measured
or estiiiiaied reliably. Credilor5 and provisions are noTTnally recognised * their senlement amount after allowing for
any trade di5¢9unts du¢.
13

THE GODOLPHIN AND LATYMER SCHOOL BURSARV FUND
NOTES TO THE FINANCIAL STATEMENTS leontlmued)
FOR THE PERIOD ENDED 31 JULY 2021
INCOME FROM INVESTMENTS
2021
Inv¢siment income
Loan interest
Rental income
121.070
97,175
42,905
261,150
DONATIONS
2021
Gross covenants
Other donations
2.515
51,651
54.166
CHARITABLE A￿1vITIEs
2021
Grants to the G￿]01phin and L*ymer
Support costs of grant making (note 5)
Finance costs
23.085
5,266
106
28,457
ANALYSISOF SUPPORT COSTS
2021
Management Charge
Governance cos15 Auditor's remuneration for audir fees
l%g¥41 aNI professional fees
1,000
2.820
1.446
5,266
Support cost5 of grdnt making include £l.OCKI payabl¢ io the Schwl for administrative
services.
14

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
NOTES TO THE FINANCIAL STATEMENTS (eontinued)
FOR THE PERIOD ENDED31 JULV 2021
INVESTMENTS
2021
Transftr from predeceswr entity
Additions
Di5P05als
Unrealised inv¢sim¢ni gains
5.497,067
789,465
(462,696)
343.050
Balance ai 31 July 2021
6,166.886
The balance at 31 July 2021 was made up olthe following-
Fixed interest Governmeni SttKks
UK Equiiies
Europe Equiiies
Unit Tnjsts
Global Other Equiiies
331.562
1,773,752
392,304
586,435
3,082,833
6,166.886
Historical cost
2J03.260
All invesiments are quoied on a recognised UK S￿k Exchange.
INVESTMEf4T PROPERTY
2021
Transfer from predecessor eniity
1.865,000
At31 July2021
£1,865.000
Historical cosl
£1,933.597
The inve5tm¢nt property was valued as at 31 August 2020 by Carter Jonas a RIC5 regist¢r¢d valuer.
DEBTORS: amounts falling due in less lha
orte year
2021
Income lax recoverable
Prepayments and accrued income
Amounis due from the Godolphin & iAtymer School
Amounts due from the Godolphin & Larymer Foundaiion
Loan io the Godolphin & Latymer Sch(x)I
115
6,577
103.552
12,146
500.000
622,390
15

THE GODOLPHIN AND LATYMER SCHOOL BURSAR Y FUND
NOTES TO THE FINANCIAL STATEMENTS {eontimued)
FOR THE PERIOD ENDED31 JULY 2021
DEwfoRS: amounts falling •ft¢r more th*m ont year
2021
Loan to the Godolphin & Latymer SclKK)I
Loan to the Godolphin & L￿YMer Sclwl Foundation
1,180,OLK)
700,(K)O
1,880,0(K)
The Trustees agreed a loan of £3.25m io ihe Godolphin and Laiymer School to aTrd in the construction of the
5POrt5 hall of which £3m was drawn down. The loan is ai a rdle of 50/• abov¢ LIBOR with a cap of 6/z'/(*. The
loan is repayable by 13 Septernber 2028.
The Trustees made a loan of £700k 10 the GIKlolphin and iAtymeT SclK)Dl FoUnd￿lOn. The loan is at a rate of 5•
alK)ve LIBOR with a cap of 61yi•/o. The108n 15 repayable by 13 September 2028
10.
CREDITORS: anbounts falling due within one year
2021
Accruals
2.821
FUNDS ANALYSIS
Transfer from
predecessor
entity
Expertditure Investment
gains
At31 July
2021
Unrestricted funds
Restricted fuTMIs
Endowment funds
10,743.837
319,527
1,389
(52,054)
1.034.370
12,045,680
3,055
318,080
318.080
11.063,583
320.916
(52,054)
1.034,370
12,366,815
The pernianent ¢ndowmeni was esiablished in 21KJ6 ihrough a donarion from the father of an old pupil of ihe
School. The gift was made in perpetuity io the Fund io support pupils at ihe school in th¢ form of bursaries.
The restrbcted fund relates to inierest ean*d w the pernianeni eThlowmeni fund which i5 to tr* used io fund
bursaries.
12.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
UNre51ricted
FuDd
2021
Resirleted
Fund
2021
Endowment
Fund
2021
Tot41
2021
Fixed asset investment
Non CUTrent asset5
Currenl a55¢ts
Curreni liabilities
8,031,886
1.880.IXN)
2.136.615
(2.821)
8.031.886
1.880.000
2.457,750
(2,821)
3,055
318,080
12,045,680
3,055
318.080
12,366,815
16

THE GODOLPHIN AND LATYMER SCHOOL BURSARY FUND
NOTES TO THE FINANCIAL STATEMENTS lemtlnued)
FOR THE PERIOD ENDED31 JULY 2021
13.
RELATED PARTY TRANSACTIONS
The Godolphin and tatymer School Bursary Fund iwo Trustee5 who are also Governors of The Godolphin
and Latymer S¢hotsl and Trustees of the G(wJolphin and Larymer School Foundation.
t￿rIng ihe year the Trnsttts of the Bursary Fund made £23.085 available to the School for School bursaries. The
Bursary Fund a150 paid £1,000 to the School during ihe year as a management and administration charge.
The aggregate donations re¢eiYed from the tnhsiees and their connecied partie5 in ihe year was £3,600.
Trustees received remuneration for their services and no TruAees were reimbuTsed for expense5 incurred in
perforniing their duti¢s.
At the year-end IIK Godolphin and IAtym£r School owedatoial of£l.783.552 10 ihe Bursary Fund. This comprises
loan of £1,680,000. loan interest of £84.856. rent payable of £42.906. less expenditure and grants of £24.210.
Ai the year.end the Godolphin and Latymer S¢hool Foundation owed a totsl of £712,146 10 ihe Bursary Fund.
This comprises a loan of £700,0￿ and loan interes¢ of £12,146.
14. TRANSFER OF ASSETS FROM GOIK)LPHIN & LATYMER SCHOOL BURSARY FUND
On 31 August 2020 the net assets of Godolphin & Lat￿rner Bursary Fund (charity nurnbEr 1080912) were
transf¢rred to the Charity. The following table shows the net assets Iransferred to the Charity on 31 August 2020-
Fixed asset investments
Nort-eurrent asset
Cash
her net assets
7.362.067
2.055,000
1,396.597
249,919
Total net assets
11,063.583
17