RECISTERED NUMBEIL. 1193132 Report of the Trustees and FI¢111 Sttemellts for the Yur Ended 31 Mrch 2024 The IAoyd WilliaDtyott SchoDls Found8dott Hanis iAccyAnd Swain Cbatlered Actounwits and StsDJtory AudltOTS Suik I The RiversidE Budding He5$1¢ ELst Yorksbir¢ HU13 ODZ
The iJoyd wl1nn Schoots FoKndatloD Contents of the Flnatycl•I St•tern¢ots ror the Year Ellded 31 March 2024 Report of tbt Tnsttes 1 ts) 13 Rwrt oftle Indeptndent AudltOTS 14 to 17 St•tsllnt of FInan¢1 Aedvltl 18 lance Shrtt 19 Clsh Flow Ststern¢nt 20 Notes to tknCAsh Flow Stalemrnt 21 Notu th¢ Fln•Dclal St*tcmEwts 22 to 30
Th¢ Lloyd IIryIIiAm5oo S¢TrLOD15 FotsDdadoD Rwrt ofthe Truste for thè Yelr E4dtyJJl Mveh 2024 Thr InJ5tees present their report with the finaD¢ial staten%nts of the charity for the ye4T ended 31 Martb 2024. Tbe trustees have adopted the proN?SiDDS of AccDullting 8TrJ Repothg by Charities.. Ststernent of R¢0)Mnded Prn¢ti¢e applicable to ¢hltieS prepaTing 8t£OUDts in cOrdIn with the Fin2&1 RwrtiD8 Stsmdard èpplicBbk in the UK 4nd Republic of Ireland IFRS 1021 (effective l JarLuary20191.
The L]oyd WilliaOn SchMls Foundation Report of the Trvstees ror tht Yur Endel 31 Mlrch 2024 OBJECTIVES LYTJ AcfiviTIES Obltttlves Ajxd &im5 Our Alms The Lloyd WilliwNson s¢bls Foundation is a CJO - FOUNDATION registered on 18 JAnuJry 2021. The stlM)ol was OF]nallY founded in 1999. Th¢ objective of the School 18 to adv&nce ¢ducation for the publi¢ benEfLI in 5ucb way5 as the ctwity fnLStees think fil in parncul?r, but not cxrlwsivcly, by operatln8 5¢hools. Wt aim to provide an ex¢ellBnl educlltion to ¢hildre# frorn the ages of 4 llM>TJths to 17. We provide & 5tnJetuttd ational enrOnment that develops our pupils, capabilities, ¢omp¢t¢n¢ie5 skjlls. W¢ PTomotc the academi¢, ny)ral and phy5ic&I develOpnllt of OUT pupils thrDuBh OUT curriculurn, p8StOTal G¥e, sportthg and other activities. We pTode all educational enviTtsrunent where each student develop èlld fvlfil their potenual. building th¢ S¢-¢Onfide¢ and llJ¢ul¢atillE & d¢sir¢ to ntribUte to th¢ widu community. In $0 doin& we prepare OUT pupil% for the oppomthities. respon5ibililies Lnd ¢xpttrience of later lift. ShoTt term alms Ind objectivesof the eharlty Othr key objectives for the year.. . To secure and then Tefurbish a new UFper Scbwl builthng1206-208 LaliT[r Road, WIO 6QYI. The TcdevelowRnt of th¢ Latimer Road building is on8oin8 ad wll provid¢ tOigh space to providt the best possibl¢ ¢du¢ationttl enviroDm¢nt for children. - To ¢mporaTily tombinB the Nw5ery, Lower Upper Schools on the 77 St ChaTl¢s 94we sitc while trAJildin8 work is tskn"n8 pla¢t in Latim2T Road - To join the Independent S¢FM)ol$ Associatton - To move our inspc¢iion pro¢c5S to the IndepeDJent S¢hooLs InspectOTk -To Secure the str¥icE5 of a Special Needs Co-ordinator- Ja¢ki¢ Heywood to further sUPPOrt duldr¢n SEY - To improve PE piovision by ing the serri¢es of speciali5g PE ¢oarh¢5 and the use of local spa¢¢s aDd facilities such 85 Ihe WesNvay Sports Centre_ - To in¥rove readLng though Maff r¢8inillg resource5 -To inwove staff TecnJitsYni by using Z%n EducAte Loni term and objtctÉei of the ¢hr5ty - To provide education lo age 19. - To TE$ttU¢tuTe the SLT to providt leadership lo tsk¢ th¢ school forw¥d into September 2025 and beyond. - Tbe achievemeDI of these aims 4ry11 fijrther the ¢harity¥ putposc by eSLAbling the h()I to offer affoTdabk frcs ¢hildT¢n who do ftot always fil into larger ststc s¢hools. Dayto day tnalla8eN of tr Schools is deleeated to the Co-prin¢ipals the 5uppon of the lead¢rthip tearrL Our Oblectlves and Ethos School Vblon & Values Ow $chool strives lo create L inclusive, aDd academically ex¢ellent environmeth wfieTe every Child fe¢15 VUed and empow¢red to reach tbeit f1[ potential. W¢ celebT&ie div¢tsity and ¢ncourn8e curiosity. ¢rea(ivity, and lifelong love of learning. Our Approach - Individualized Edutation.. We off¢T 5n>ll ¢lass sizes and a per59nBtizcd curriculurn tailored to each student's rK¢d5 4nd le&rnin8 style. Holistic Development.. In addition to acadee study, we f4)CUg on so¢iaJ 8ttd enM)tson&l learning? char8¢rer develownttni, and building f¢5ilien¢¢. - Safe 2nd Supportivc Community". (hr school fosters o welcomin8 and inclusive amosphere Wre $tudeDts feel 5aft, T¢Bpe¢*l •nd supported. P88e 2
The LIDyd WIIIAamsoll Schoo15 Fondtlom Report orth¢ Trustte5 ror ihe Year Ended 31 March 2024 Our GDb .4L1d¢mie Lxccllence. Wc art C(immilTed to providitlB a liigli-qu2lily LY51%110Tr thii prLWllT¢S Stud¢n15 lor succcss i 5c'liiX)l lind iK'yiJnd. Tlic strnts 8r¢ encOr9d kn rhinK- oboui Ihcir fuwres and lo dLTrclop Ambiiiou5 Eoals for thBII lil-l EINd Larc¢rs. SttJd¢ni Well-being We prioritise the etrtotiond social w¢ll-b¢in8 of OUT sents. creating a positive and nurturing learning ¢nvironment. - Lonimiinii!. Enga8erKntr. W¢ believe in buildiD8 strong partnerships wth families and the ¢onYmwity 10 5UPPOrt SDJd¢ni succcss. Strateyes of Achieving Airns 8ftdObNtives . Clintiniic to %%"<)Ik ikjth t1.¢ lind 512ff10 and promote the schools unique ethos. - Creating an annual Self Eviluation FTaTiiewoTk. - Ass¢s5 surcess Ihrou8h the prw&% of ¢3¢h iTrJivithJal Child. Crlteriq to suctess - ReviewiJL8 Ibc School Improv¢meM pkn reIlY to t[su pro8rtss. - PlaD to rn¢asure each child's metttsl Well8 USllIB tbe Cambridge Well BeiDB 5COTe8 - Exam r¢sul Admkgslou Prn¢¢ We welcome srudEnts frorn all backgrounds and abilitics. Our 4Llini%sFvn% (lI¢S on as>¢siing A student poicntial. We do not 141%irimiiale bascd on ra¢c, ethniLiiv. rlligiom. gttKIcT. or <)Ii¢)cLI)nomic %taiu4. Trial days Are wJd¢riaL'en to salisfyoiir<elke¢ and pqr¢n15 that pot¢D¢ial piipilg ¢)n bcnclii froiii ilic cJiiLAtIOll Il'i PWTrj(Ik. Safeybrding Th£ safet!" gnd Mtll-being of ourstudcnts BTe our iopprioiity. We are Commid to providin8 1 safe and se¢ learning EnvirunnKnt for Jll. Our Commit]llent Our leAming is b&5ed on a fooDtion of building strong relatillnlIp$ .1m'L'cII.£tdIy and 51udcniE WL. arc all on A fir41 twtnt bA%is. (h]r IL'aTD ii'ork illellO i{1 proi-idc ali Cxillinb) ¥nd CnAL•inb ¥uryiLuliull aliM)g4id¢ ¢.¥iTa CUTricular ictiviiits 11 as Irips. pr(bjiCls. short filiTh% Llc. Tlicse ar¢ iaTcfull!' dc4ioneJ Ill mLI Ilie in(li¥'idual nL'cds (if 311 our pupil& and Staff re¢civ£ regular trainin8 to develop this w510n. Our Cor¢ Creativity- We fostrr imaginative thirjking and problem solviD8 across all are&5 of 5cbwl lift and ask them to find their owrj solutions lo problems ¢ celebrtsie rnake$ w tAch unique. We want ow students to be confident in ihcmselve5 and h¢lp IhcFn diSiQ%'cr thctr pBs¢ivns Rel*llonskip - R¢lationsht'p is at the heart of all tyJT learning We t)KwJcl empAlhy and u1detstgjIn8 throu8h conversation and work together to build 8 br28hi fvbJte. Resilience- We cncour2ge student5 10 b)Jild thew Strength aThJ flexibility to meet the ¢halleYJEes of & rapidly changing world A5pjr•tion- We )lIvIte OUT swdellts to be thin0$ and sunrtthern to rwh theit goal. Our key objectives (or the year.. - to See 8nd then refurbish a new Upper Schwl building1206-208 Latimer Road, WIO 6QYI Pa8e 3
The Lloyd WillianuoA S¢hoo15 FDund•tloTh Report olthe Trn5tttS ror the Year Endod 31 Mwreh 2024 - to tempordrily ¢otnbiD¢ the Nwsery, tA)WeT and Upper S¢bool$ on the 77 Si Cbarles Square while building is tskitig pla¢c in Latllncr Road - to join the Independent Schools AÈsociation - to move our irLspe¢tion proce$5 to the Independent S¢hools Inspectonie - to se¢urc ihe services of a Special Needs Cordin£t0r- Jxkie Heywod to 5Jrtber swort children with SEN Equil opp0thjtfvS We are an eq] opporbjnity OTgaRi5atton and th corJrnittL'd to a i1)rK.r¥ Lni"ironin¢iii Ihai is frLY from ini" fotrn of diKnniiiiaii(In on the iry{IwvJ% of tolour. rn¢e. Lrlinicity. r¥ligii)ty. SL'%. InariMI SLlus. sciual oriLntatioii or di%ahility- We JI mi1kc r¢050nttble adjiisiTFK'nts 10 ITie¢t the Kceds of stAfl'i)r iiupil% iilKI nrc L)r .¢J]IL di5ablL%I In the lasi Olslcd Insp¢eiots rt. th¢ Schools de5ryib4'd ' JIKI(I" A wmplidni¢ inspe¢iion hcld ill JDnuary 2024 folloii'iDIT tIK prL'iniKd iiirn'¢ and the schwls were d¢¢iiii'il tu Iravo met all the lJdcp-nd¢ni S¢101% SIAndgrds. Commvni¢¥tion with Parents Parent8 are given re&T infornutiojj about their ¢bildre]]'5 social and ac•dcmi¢ progtes5 IFroW pprtnt evenin85 ID Ib¢ Spring Term in addition to tnd Df kn reports in De¢emb¢T and July. A£ademi¢ PTO8res$ and behaviour 8nd ptais¢ c4n bc found by paTLiilS in our MIS SYsm. ..1111S. We hail an l)p¢ii Door. wlicy- Tr?r¢nii can tiinl.lil %¢lirtiil al any Iinii during the VL'nr for additional Inlormaiion. W¢ rn8iiitaiD rciyiil.-Ir iolliaLI willi Piifiiils thDiil&ilKTrllt the %'Lar throu8h inforrnal contacts aftd through our newsl¢tt¢r. p11$ havt a Pasloral Tur TesFrf)¥Jsibl¢ for pasto CaTB and and¢]ni¢ developnxnL We &l¥o h&ve & sDJdeJJt who are involv¢d in developjng th¢ school. Mentoring and Mttiil HEalth S¥pport We bye A prograttune of rnentoring for thilthttn. Several stsff are qualified in sUPPOrtin8 ¢hildr#n'5 mentsl health. D¢boTah Th•¢keTay and Lwy Meyer are me]Jtsl bealth leads. eomplctillg additional tra1n8 in Novemb¢r 2D21. Staff Tr#Ihlng All stsff complete regviaT training in s&fe•ing, health and safety and wellbtin8 via TES FAiare In peTson tyainiD8 is a]50 hcld rach temi. We hiv¢ our own ID howe fiT5t aid trainer and all 5tsff are traujed in p8tyAidtric first ryth 9 sraff also hèiryng CO[pItted the full First Aid at Work traiuillg. Positive Hgjdling traujing is underr4keD every 3 ye&5. ChildTen from year I UPW&Tds Bre also 18u8hi first aid. P88¢4
Th¢ Lloyd Wblliamsott S¢hool$ FoundAtLOII Report of lh¢ Trustees for the YtXT Ettdtd JI iMrch 2024 OBJECTIVES AND ACTIVITIES SigtLificurtf ttivifies Pupil thumbtrs and fees Our educational aciLVLties hav¢ k¢n carried out at 77 St Charlts Sqllare London WIO 6EB since September 2023. Prior to that the schwls wert split on 2 siics- 77 Si Charles Square and 12 Tclftsrd R(d, London WIO SSH. Pupil numb¢.. 40 UppeT School 23 in Lower Schoo 19 in R¢ceptiofvNur$ery. This remain5 below our target figure of 140. Our fec incr¢8Ks this year were appTowmaiely 2Yty Still making th¢ f¢¢$ less Ih8n marty nearby indepettdeni schools. Our fres for the ¢utr¢nl ytar befo the deduction of an). [nn$ iesied bursaries and scholarships w'¢Te £6,100 tor new pupils and £5600 for existing pupi15 prior 10 2021. Thert is also an additional £iOQ per teLTh fee charged to SEN pupils. Nursery fec5 have remained Ihc sam¢ as last year and ar¢ chaTged PTOvraia. Parenis cen ch005¢ how tnaDy $o$ivn ihev book in nursery. Th¢r¢ are tLO fee inLrease8 when children Iransjiion to 1¢ Upper School. 34 ytat olds are in receipt of th¢ MFE Igoverturtent tunded 15 hour a week nursery plar¢sl. The rrK>5t signifi¢ant charitable eiVIty rhat i5 undcrtak¢n i5 to provide bursary support 10 over SO/• of pupils and low cos( fees to all. Lloyd Williamson aiTn5 to give the children a holistic educaiional exp¢rien¢¢ to SUPFK)ri families wlio would not necessarily engage Lomfonably with larger schools. Digital Managemtnr System Many asp¢cis of school lif¢ are recorded via AIMS. our MIS. Atte[aTr¢¢, timetable. pupil behaviour and praise, homework. aiiainmLnl. reports and safeguarding can all be found on AIMS. All teaching staft and LSAS have access aj parents have access lo information rec<>rd¢d aboui Ikir child. AtAdemi¢ Achitvements Our IGCSEIGCSE opiions now includ¢ FilrD Studies. PE, Astrot)omy and Latin. W¢ cgn now tsff¢r GCSE$ from Ihe Cambridge Iniernational. OCR and WJEC boar(ts. Rarely. do students have to choose beiwe¢n subjects - we can off¢r a1rn051 all co]nbiJMtions of subjects. In 2023, 2701ty of studcnts achi¢ved grades 5.9 at their IGCSEslGCSEs. This ivas a v¢ry small ¢ohort (only 3 Sludentsl. including one student with SEN. We txpeci do b¢ii¢r in 2024. Wrap arouxd tart We currently off¢r a breakfasi club and after sctK>oI club until 6pm ai ne addiiional charge. This 15 likely to change onct we have ihe new building. Take up of thi5 facilili. is now mustly by pupils in r¢c¢ipt of bursary places. There is also a holiday club open to our ¢hildTen and cliildren from other schools which is rcasonably priced. In addition. there are varjou$ 5pe¢ialist after school clubs. Currently, fwiball, chess and backgatrunon a[ L¢go. These are subject io change and lake up has much lower since Covid. School and nursery Dewslttters School and nursery new'sletters ar¢ published nearly evcry week. with usefvl infoThation for parthts and a ccl¢braiion of children's achievements. Sport Tliis acadetnic y¢ar, we have had 2 sports coaches. Taryl Mendi5 artd Bojan Zuni¢ delivered our Friday PE, giving more opporlunitits for varied SkX)rting aclivilies. One pupil is a county squash player, one a county cross country runner and onc is European f¢n¢ing champion in the U-15s. These aciiviiies ividen rhildren's sportin8 experience of the world ¢tthtyn¢ing their potential. Page 5
Lloyd Willi]n50n S¢hool$ Foundatlo Report of the Trnstee5 for tbe Year EndEd 31 Mrrh 2024 OPJEcfJvES ATr4D ACTIVITIF3 School Trip5 There were plenty of s¢knol trips in the I1 year. Th¢ Low¢rS¢knol weth to Hackney City Farns, the Victoria and Albert 10 the Unicom Tkatte to see The Bolds.. 8od London Zoo. The Year 65 and 7$ took pirt in K¢nMnwon and Chelseag lunior CItizcn5hip schem¢ hr the Nstttral History Museum. The older pupils took part in a gco8raphy fi¢ld trip as part of the ThaTnes Mudiarks proBtaTllTne. They also Vlled the kience Mweunl th¢ NatLwdl History Mi useum the IpcriI WaT Museurn. Film StLLdies SUentS went to a tevision tslk 41 th¢ BFI thd Ihc year I I went io 5¢¢ 'WitDe55 for the Prose¢viton'. These activilles den ¢hildTell's experienc¢ of the world ill¥roving their potelllial. PGL Out annual trip lo PGL Sadly had lo bE ¢anrelled for M¥y 2023 due to lack of take up of the place5. IT is uLsure whett this will be offered a8atft. ATrnu•l project W¢ held the annual Ptojeci in Sprin8 2024 bascd on *tists. Every child w¥ 8iv¢n a name of an artist alld had lo creatr a projc¢Van work based on it. There were prizes for th¢ winneys. The5c aGtiVlti¢s give eath child th¢ oppornthity lo expre$s Ibem5elve5 in their own way, particularly giviD8 less a¢adEn2i¢ children the ehance lo achieve in other way5. Pastor•l Pasfvral care and st¢nt wellbun8 remains ai the Centre of the h0o1,5 ¢thos. Pupils in years 10 ènd 11 rec2ive rewlar mentorin8 lo help th¢m achieve their Eoals. SclLwI council eIng5 8re heldte8ulÈrly snd wisbes of th¢ stsdenis tre teken into ¢onsiderntion by the C(Fpnncipais. Ch8rlt5ts #t)d fllndr•uinE We host a collection for a local food bank to whi¢b pupil$ and parents resularly ntribute. Mufti d#y5 ate held regularly to r8iSV tmnEy for Jeans for GeDes, Children in N¢e( Young Minds, Red cro Crisis aDd many others. Thi5 reminds chllthn of their pl¢ in the world artd the need to help others. Bur54ries This T the value of means te51ed bwrie5 totalled £432.0(K).00. Th<y providcd Jssistce 10 112 of pupi15 of which 4 pupils bcntfittcd ftom a full rernis5ion oFfees The shorrfall in fee income is mEtby fundraising aDd donations. The charity is rurtently 5UPPQrted by a b¢n¢factor vtho believe$ that Ille unique eth05 of the school shouId be PT¢seryed. This ¢bleS the sch(x)I to continue 10 provide bursaries. Review BursBiie5 are review¢d on an annual basL8 in July to erIstt t1 familie5 in wcipt of bUri£S and still fi)Ily entirled to Public benefit The Tru5t¢es tlold a regard CCI CCNI Guidance in rt111)n to public b¢n¢fii. Pige 6
The Lloyd WillianL50n Schools Fouhdatio Report of the Trustee5 for ttht Year Ended 31 March 2024 FINANCIAL REVIEW Financial p051tion Th¢ financial siatemcnts show. ner incotning resources for the year of £58,578 This is dowll from th¢ previous year due to the refurbishments made and an increase in siaft.. along with a tall in donations irt tht year and a change in the lease liability accounting policy. s¢¢ accouniing txilicies foi further explanation. The principal source of itOMe is from school f¢¢5 and donation5. wiihin the donations section is the gift aid contribulions the Charity also receive. The Governors are coniinuing Ih¢ir strategy of deploying all net incoming Te50urce5 10 invcsiing in the educational purp05e5 and fabric of our Junithi and Senior Schools. AS a chariry the parents of our pupils hav¢ the a55urance thai all the income ol Ihe School must b¢ applied tor educational purposes. As an educational charity wc enjoy t&x exemption on our educolional actii'ilie5. As a Charity we e a150 eniitlcd to an 80fj/0 reduction on our business rates on the property we occupy for our chariiable purpose5. The finallcial b¢n¢fits w¢ r¢c¢iv¢ frotn ihe5¥ lax exempiions are all applied for educational purwse5 and indirectly help us 10 tnaintain our bursary policies. How¢ver. zs an educational chariiy. we are currenily unable to Te¢laim VAT input on our costs as we are exempt for VAT purposes. This is lik¢l>' lo change duTing the 2024-2) financial year and may lead to the 5¢hool being able to tnake laim for some back VAT paid. We also pay tax as an employer through ihe national insurance contribuiions we make. In additional to the very subsLqniial benefits our School bring5 to our pupils, the local communiiy and society through the educaiion we off¢r. our bUrry PTogratnmtr ¢reate8 a social &%sei without cost to the Exchequer or th¢ local authority. With the agreetD¢nl of the b¢nefactor. furiher bursartes have been paused until there are increased numbets of children on our low Cost fee strucitire. The charity is aiming to becorne s¢lf 5uffi¢ient by 2030. As mted before, the charity is concerned about any ifflpact of a change of 8ovemmeni on both VAT regisiration and haiiiabl¢ slalus. Dtvelopments nd Mailltenah¢¢ Majur projeLlS includes the compleie refurbishrtJ¢nl of 20&208 Latimer Road, including neiv roof. new windows and an addiiional fire esca stair¢ase. General maintenance took plclC¢ in Telford Road before we left the buildinE, and in 77 St Charles Squarc.This propcrty has a 15 y¢ur l¢as¢ on it which we have recognised within the financial stakrn¢nls. The new building Ivill provide a conducive learning eDviroTllnent. It will split again the Lower 4Lnd Upper Schools. Lab5 will now be on both.%ile%. giving boih primary and secondary pupils purpose built rooms for science. Thi5 elitnCeS the quality (If the education delivered. Th¢ itnpaci of the new school will hopcfully benefit each child that ihe school supporis and cducaies. W¢ hope that th¢ neiv ¢nvironm¢nt brings a betier. clearer and more effective learning opportunity for the Students. 10 benefit them and ¢ncouiage a belter education for them. FiD¥ntixl Helth The CEO regularly reviews the fLn#nces and budgets &% part ofthe effective st¢wardship of the S¢hool. The Khool has a conrinuitlg progr8mm¢ of refitrbishrttent, developmeni 8md inve5tm¢nt to ttLaint8in excellertt *a¢hing facilities foT our pupils. The fr¢¢ re5eTV¢5 ar¢ at a balart¢e of £535.964. which illustrates the Ext¢nt of th¢ iDv¢$tment in our Schools. The closing value of our tangible assets. prop¢rty. plani and equipment. w&% £2.•76.023. Th2 bcnefaeior who currently supp)rts the ¢hwity 1$ committed to a long tem) approach. Provision has beett made to secure the firturc of the chaTity $IKiuld the benefaCr pass away. Tht benefactor 15 wholly supportive of th¢ aims and obj¢ciives of th¢ charity and in supporting the school in providing eduoiion to pupils who may noi oiheN'i5e fit into siaie sch(M)l or other local indepelldent school& Page 7
The Lloyd WIUiams0Tr School$ FowidAtion Report of the Trustees for the Yemr Exded 31 Mir¢b 2024 Thert hag been an Èdjustmtnl mDdB to an erroT rt8aTdin8 8ift Rid to bt r¢¢eived, which was cltimed back in 2023. The oveT211 adjustm¢nl is a dttreasc in 2023's regerves of £258,700. A corte5poJxfing adjustmeDI, of the sllm¢ valuc, has been made in the cutr¢nt y¢aT. irtcreasing ree$ by £258,700. Liabuity For our le&ching and support staff w¢ offer a defined contiibution scheme wbith is opernied by Nest, wryll rncrf any futsJT¢ liability. ktservt5 poIIcy Th¢ thJstc¢s ieview the TeseTve levels of the foundation ann)ly. This TeNiew tncompasse& the natun of income and exp¢ndiwr¢ slidm5, the nttd to matrh incorne ryth com)XiDnents aDd tb¢ n4tt]n of J¢5¢rve5. The ItteeS hold a poly¢y io keep 6 rrnnihs re5crves to ¢oveT cbarity expendire fot the finAneial yur. thts ¢qUd¢cs to £829,676. Th¢ reserves ¢UTretttly held by the charity aT¢ below this requirttz¢nt due lo the inv¢5tnYni in repiTS Dn the new school building along Th?th A ch8ng¢ in a¢¢ourJting wlicy for operating leases. The Chariry are in discwions about howthey will be abl¢ 10 build thc8e reserve5 back up the desired arnount After makin8 appropiiate tnquiri¢s, the Boord of TNsiee8 ha$ b r¢350nable ¢xpe¢ratiDn that the fow)Oaiion has adequllle rf4our¢e$ to ¢oniinu2 in operational ¢xiSitt¢ for the forcseeable For this teOn, il continues adopt the going concern basis ID preparing the financial statemeThts. FurtTrRr d¢tsils reB*Titing the adoption of th¢ Eoing c(mC2rn b&si4 ¢8 be fouTJd in the St&t¢meni of Accounting Policies. Tbe total level of fr¢¢ reseJv¢s heidwithin Ibe foundation we £535,964. Pag¢ 8
The Uoyd WIIEl•mson S¢lLoob Found•tio
Repori of the Trntees
ror the Yur £ded 31 March 2024
FINANCIAL REVIEW
Our Strate8les and Policie5
Our Ttustrcs are respoosiblc for $ettiDg & Strat¢g diTe¢iion for achievi8 the school s obje¢llv¢s. The foc of our
strategy is on the deVeloprtnt of ourpupils, their¢ontinued higb levels of academic andtO-CUTri¢ulatachievernenc
In tabng IoTWaTd our strategy. we..
- Review and benchmark the S¢hool's a¢ademi¢ 5yll8bus, teachingpractsvs, and ex8mination Te5uIts.
Enswe the range of co-curricularactivihes availablc to OUT pupils is SEimulatinB 8Dd ¢ballenwn8.
- Invest in technology and the fraStructure of our School.
- Continu¢ io T¢view and develop our methods for awardin8 bwsBriCSto tn&llTe acG¢ss to pupi15 from all b8tkBroutth
the io¢al aT¢a.
Acte55 Pollry
IL is imponant to us that a¢ttss to tbe e41uc4li¢)n we offer is not ttstri¢l¢d those WJH) CEn afford our frcs. W¢ Wievy
our pupils beuefii from learning V¢ithin a div¢TS¢ community. A grcal deal of le3Tring occurs through social interacti¢
onver53tion and shaT¢d experiences whicb help5 our pupils d¢v¢lop undetstsnthng of the pBr5pectivts of other
p¢oplc that will be vital in thcir adult livcs.
Ow bursarypolicy contributes to a d¢nIng of a¢ce8S te the ethjcation we offer and the facilities w¢ ¢DjOy.
BurdTy Ptrttty
rhe Trustees view our hur52ry aw8Tds as unportant helpiYJ8 to ensure chddren fTOTn families who would othenvise not
be able io afford the fees can acce the education we offer. Our bwsary awatds are available io all who O
gcn¢ral entry rnquir¢m¢nlS and are 501cty on the bas15 of porcntal Means or to relieve hardship wh¢re • pupils
eduulion and thturepr05pects would othETwise be at risk for exNple the ca% of rtdundancy.
In asses$iDg m¢8ns we lake antstthrof factors thio con$ideTatiOn in¢luth"ng family irKom¢, IDv¢stnts and savings and
[[Y ¢iT¢UmStsncn, Bnd thosc benefihng from
the awar(b.
The bsary awards rAnge from 5% to T¢mission of f¢es.
We also have & htsTdsbip fund that supplements burw aw4Td5 to pay for corfurricul8r tivIti$. equipment and S¢10[
trips. Inf¢rnirion about f¢t assi51ancE Ihrou¥h bur5ari¢s IS PTDiided to all ¥plying to Ihe School. Furthei detai15 of ¢)w
butsarypoli¢yaDd howtQ apply ar¢ ovailabl¢ on wrw¢b5lt¢.
The success of our bwsttry 8¢heme is explained in our reiryew of ttitte$ aThl achievements 5e¢tion of this repoit
Dvtsi15 of buT5ary awaTd5 arc a150 sel out in note 5 to thc accounts
Other pfylicles OD A5$iStwn¢e:
Slbmni dl$couftts polley
To underlin¢ the valu¢ wr pl&rt on ¢ontinuiry for familics, wc offer 5% discount for the Second child and IO•/4 djawl
for the thiid child, where pareTLE have mDie thaD one child ai the Sthool.
Pa8¢ 9
Tht Lloyd Wjwamson Schools Fovndatho
kEPOrt of the Tru$tccs
for ihe Ytar Emdtd 31 M#rch 2924
FUTURE PLA.YS
Th¢ CEO ai]n5 to malljtain the 5choofs pDsilion in a ¢OnlPilili%'¥ TnJrk'ti by investin8 in hi8huality ¢dUcathO foF its
pupils. lo alliiive this, IhL' sclivol pa 10 iiicr¢ase pupil nwmkr.% rth¢AIn8 on fujl frc-paying Strots. as firture plans
will b¢ linanlx'd primaTily Ilirvii¥h fee incl>.
Thc school ainL8 LO a¢hieM: a liigh Stslillard of Ac4demic rc5uIt5 "hilL. iiiainruiriTr£ a bYo8d and 4Jicp Curriivlum. The
Senior Leadership Team will contintse tii rLI'iewthe curriculum 10 Llt%urc It rcinaTHs appropr?at¢ forpupils, dc%'clopmeni
Tlic Tni%iLLS view butsary. aard as ililpoftani In 4upportill8 the local ¢ommunity. Huil'lLf, v¢n. frw furrher bursari¢5
Lan b¢ gionted utttii pupil nuneTS and ftt I01 risi,, with the exLL'PliOD of a r¢fiigec iliil
Th¢ Lknyd WAJIIanon Sehoob FoundtioD Repor( oltht Trusttrs for the Y¢ar 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENr Key managemertt Temuner•tio Thc Trustees consider Ibat the CEOIC&pr1ttJp and th¢ Head of AdmiwBursEr comprisE the Kcy Mana8em¢DI Perwtlll. The Tn¢S give of Eh¢ii tiTnt freely and dle CEOIPrincip&l Lu¢y Meyer. curendy woTks as & volvn¢¢er. Pay 15 set by the CEO using the follown8 Criteria,. nature of thc tole and teswzLsibiliti¢s ojnpelitor salaries in the region the 8e¢tOT RveT&ge salary for comparnblc posillOIJS ITen(Ls in pay R15k mr&8tmtnt The TrtL4tee$ 8re reSpOlbIe foT thc ¢verse¢ih8 Df Ihe risks faced by the School. Detailed considerdtions of risk Rre d¢l¢gated to the Senior man8genntOf th2 khool. Risks ÈTe id¢ntified, assc$8ed ond controls estsblisbed throughout thc year. A fonnal reNi¢w of the chEritys risk mgement processes is wHlcrtaken on an anmthl basis. lknsk 1$ man#8ed Jdcr tk headin8$ of financial sustai#&bility, school safety, sNdeDI welfare, empl0ment. sebwl trips and events and community access. Major risks ha beeo revieNrd gnd sen Orpr(wI have beert establi5h¢d to nxnaBe i]x)5e risks. Princip41 ris untertallltlts and the 5¢rai¢Et# In mhgiDg these On¢ of the riskn to the school is th¢ fallw8 birth rxtc Rnd consequent ovtrswly in primary edu¢ètion, in wti¢ulaT. The school i$ implerrthing a strateEY of combin8elatse$ where practit21 $trenlininE affing. A potenttal govcrnmenl cOd abolith ¢h8rity status and introdu¢¢ VAT on h0o1 fees, le2th.ng to bigher fee$ for the PArents and higheT ac£¢)untanry ftts for the ¢hatity. It rnly also create more Admintrativ¢ work. Stralcgies will implcmented once th¢ chariry know the outrornt of th¢ 8eneT¥l electiOD what policies will bc put in place by any 8oveTnttient The ChBrity uJxl¢TStands that it need5 to wmply with pr¢Yailmg law4 and r¢8ulatiorJ3 sel out by orgaDiS81i¢ns such 85 Ofsled Ènd th¢ D¢p•rtment of Education and ¢ontintts to 5trvc to engjre tbose laK T21lon$ are follow strict and determined manner. REFERENCE AN'D ADMINISTRATIVE DETAILS ReE151ered Cbtlty nunA)¢r PrAncI7 addrtts Lkyd Williallwn Schools 12 Telford Road Londu W105SH Trustro5 Dr L F Yahllya Ir¢*8ncd 27.11.241 R S Lawl4n {resied 31.3.241 Mr5 C Vaughzn Iresigned 31.10.231 Ms M F Taylor Mts N Hallbery (appointed 17.4.24) A fjohl lappointd 21.3.241 Z Man&urov {appointe45 29.6.23) Page 11
Tht Lloyd WilliamsoD Scltg015 FoundatioD Report of the Trustees for the Year Endcd 31 March 2014 REFEREliCE AND ADMI*41STRATIVE DETAILS Audltors Harr15 Lacey and Swain Chartered Ac¢ounuDts a[ 5tswtoryAuditors Suit¢ I Th¢ Riyerside Building H¢ssle Eam YoTk$hire HU130DZ Soliclto fjordon5 Solicilors EdgebotOUBh House UppeT Edgebomugh Road Guildford GUI 2BJ Pbone.. 01483 45191M) Fax.. 01483 451888 DX.. 321101 Guildford ZO I1rInCe Brokers ACM Embatool House 104 High St Londort Colnty Si Albans AL2 IQL PhonB'. 01923 894360 AccountaDts Hams Lacey &nd Sw&in Suit¢ l. Th¢ versIde Builthn8 Liwn8Stone Road Hessle HD130DZ Phone.. 01482 646440 CEO and PlUi%CtPAL Lucy Meyer CO-PRINCIPAL A3Ton WillianLS HEAD OF ADMINIBURSAR AND CLERK TO THE TRUSTEES Delx)nh Thackeray NURSERV MANAGER Emma LiTna IT LEAD Shèwj Wtttson STATEMEliT OF TRUSTEES, RESPONSIBILrriES The trostets are responsible for preparitJ8 the Report of the TTUSt¢es and the finzncial sraiemEnts in aCcOrdae Mryth applicable law and UnitedKingdom A¢c4)uniing Stsndards (Uniied Kingdom Gen¢rally A¢¢epted A¢cDunttng Prw¢ti¢el. Page 12
The LIDyd Willl¥m$oft Schoots FDundadDR Rtyort ofthe Truyiees for tlt Ytr Ended 31 March 2024 STATEMENT OF TRUSTEFS, RESPON'SIBILITl&g. ¢Oll¢illuEd The law applicable to charatics in England aryj Wales, the ChaTiti¢s A¢1 2011. chity IAc¢tthts and Retthl Regulations 2008 and the pro510n$ of the ht deed requires th¢ Intte$ 10 prepare finLn¢ial $tstellnts for ¢4ch financial ye&T which give a ttue and fair vs¢w of Ihe Stsle of affaits of the chBnty and of the incDrning Tex)urces a) pplicarion of resources, in¢ludin8 the incorne and exp¢ndiDJre, of Ibe <h4rity foT that period. In pr¢parirt8 those fipan¢i#l ststerints, the thL%tees ar¢ reqUd ts) 5¢1e¢l suitable accounting policies and then apply them ¢OllSi$lently.' Obser tbe metho& 6nd principles in the cTrrity SOBTr,. make judgements and e$timatC5 that are reksonable and pnukn4 slate whelhcr applicable accounting Standards hav¢ be¢n followed, subject lo any marerial depDrtttre5 (ti5closed and explained in Ih¢ financial $talErnents', Pi¢P8rc th¢ financilll statemEnts on tlje goiJJB concern basis 1¢$$ it is iDaPPry)Pri8tt to ptesurne ihat th¢ ¢harity will continue in busin¢s5. The tNsrtts ar¢ reSpOlb[e for k¢¢ping proper accounting TecoTd5 Mthi¢h dis¢loK w2th reasonabl¢ eary # ètty tin the fman¢ial position of the charity 4od to enable ihem to ensure that the financial slal¢rnEnts comply wryth the Chariti¢s Acr 2011, the Charity lkncounts and Reports) Regulattons 2008 and the provions of tbe tnjst deed. They ire a150 r¢gwnsibl¢ for safeguarthng the sssets of the charity and htllce for raking reasonable $teps for the pr¢v¢J)tion and deteaion of fraud and othcr irreg&Tilles. AppTov¢d byoTdBr c*f the board of trte25 on......... . Bnd swed on its beh( by.. Mrs N HaIlr¢- Trusite P&ge 13
Report of the Indeptnd•lltAllditor5 to tht Tru5tee5 ThE Lloyd WilJi&ntson Schoo15 Fo¥Jnd•tiDn Opiiiion We havc audited thE financial stst¢ments of The Lloyd Williamson S¢hools Foundation Ithe'¢harityl for the ye8T ¢j¢d JI Much 2024 wht¢h ¢OTnprise the Statement of Fillgnci&l Activities, the Balanc¢ Sh¢er. Ihc Cash Flow Ststtment and not¢5 to the fincIlI staternents, including 3 5UJ]w of si8nific3nt accounting policies. The fiTJancial fr¥m¢woTk that has been applied in their pieparAtion É$ #pplicable law and Unita Kingdoro Accounting Standards {Unid Kin8dorn Generally Accepted AccOting Practitt). In our opinion the fthanciai st2tern¢nts'. 8ive a and faiT view of tht $¢8te of Ihe charity's affairs as 11 31 March 2024 ond of its incoming resoutte5 and application of r¢sour¢es, for the yeaT then ended. hav¢ beeD Ptoperly prepared in ac¢ordabrB with Unitrd KingdomGenerally Accepted Aceoullting Prlice,. and have beenpr¢paTed in a¢co[date the Tequirejnents of the Chgrio¢s Art 2Ql l. for op14tofv We ¢onducd our aLMlit in accordanre Mtb International Standards on AUditE IUKI IISAS (UKII and applicable Itw. Our responsibilitics under those standaTds ale further describ¢d in the Auditors, respowibilities for the audit of the finaD¢i#l Stalennts section of report. We are (ndep¢ndent of Ibe chanty in a¢¢ord8n¢e thezthical requirem¢nts that are relei'amt to our Juoil of thc financial st2tem¢DtS ID the UL including tht FRC5 Ethiul Stants4 and have lfilled our other ethical responsibilitie5 ID accordance wth these requirenlIs. We beli¢ve that the audit evid¢nce w¢ have obtsin¢d 15 suffi¢ieni and appropTial¢ w prow¢k a basi$ forour oplljion. M•ttsril uDrertsinty relted til EoinE CDncorn In auditin8 the fillancial 5taternents, wt have ¢on¢luded thEt tr tN51eel us¢ of the 8oinE CODCern basis of arcouniing Ibe prepaT8tion of th¢ fincIal sts1¢tnts is appropriat¢. Based on the Work have perfotme( we h&ve Dot iden12fied any marerial uncertainties Td81in8 to ¢vEnts or conditions tbat, mdividuolly or ¢olle¢tiv¢ly, may cast significant dovbi on the charitys ability to continue as a goillg cotKeTh for A period of al leasi twelve months from when the ffftaneial stai¢m¢nts aTe 1tsth0ri5ed for iSSU¢. OUT re5ponsibi11ri¢5 and the re4Jon$ibrlilies of the trusiecs with rewt to going conceTD are described iti Ibe relevant $e¢tions ofrhis repott Other lrtfornLqt5orL The Inte¢S art responsible for the other infornlltion. The oihet infon]tiOn comprises the infonnation iti¢luded in th¢ Annual Report, other than th¢ firJ8ncial siaiemcnts and ¢)ur Report of the IndeFendent Audito[3 thereDn. Our opillion on the finan¢i&l stannts does JM)t cover thc other infornwion except to & ¢xnt otherwise expli¢1Ysts1ed In our report we th not expre55 anyf¢)rn? of 8sswanc¢ ¢on¢lu5ion thereon. In c4)nnection with our audit of the finEncial s1ateDts. our respon$ibiliry is to Tead tbe other informaÉion and, in doDJ¥ 50, cortsider whethei the other infonnation 15 matcrially in¢¢nsistent with the fin2ncial statenxnrs OE ow knowledge obtsined in the aodit or otherwise aPPr5 to be mater¢ally misststed. If we identtfy $uch ma¢¢rral in¢onsisTett¢i¢s or apparenr material m155tstemcnts. are requirc41 to detcnnine Wheth thi$ gives ri$¢ to a mat¢rial ]nis5tatemcnt in the financial statements themstlves. If. bèsed on the wotk hav¢ perfotrn¢d we ¢OA¢lude thot thete 15 & tiiaterial misststenxN of thts other inforn&tion, w¢ ore r¢quiTed to t¢porrthat fact We have nothing to report in this gard. Mxtttrs on which w¢ Are requ&red io report by ex£eptiD We have nothing to ttport in rt$pect of the following matters wherc tht Charities IAc¢ovnis and Reports) Regulation5 2008 require5 US to repon to you if, irj our opttiion.. the inforniation wven in thB RcFOrt of the Tru5t¢e5 15 IncoDSL5t¢ni in any marial rESPt Mth the financial atem¢nis," Dr suffi¢i¢nt&ccounting rKoTds h8Y¢nol b¢¢n k¢pt', or tbe financial siaternents are not its agTetment with the accounting records and returns., or we hav¢ noi r¢ceived all the 1nforJllO and expknations we Tequire for OUT audit Pagc 14
Report of th¢ IAdcpQndtnt.ludllo ro the Tru%lees of Tkn Lhyd Il'llltam50n Schooh Foundaiion Respollsibllllles of trustees ncii%QTr Iv ill2bli ili¢ prLpzfJiioii ill. fiiidntigl $lai¢men¢¥ I1Tr4i 1lfL' t¢¢c Irom InaiLrial Ini$SlamcnI. i%'li¢Thcr duc lo fra1 ortrmr. In prcparing Ihc financtal SAa1cMLt$. I12t tru.%lCL% arc re%*¥1b1¢ for a5se%sing Ihe cllafiivs abiliiy Ili conlinllc a% # Lioing conLLYll. disL105in& a% appliLahlc. niuiiL'fs rilated io going ftrllicrn iisin¥' Ilic &poiJig con¢crn ba%1¥ uf Qliuiiniinti Pa8e15
Report of the Indeptndent Auditor5 to the Trustee5 of Tht Lk)yd WilltaThsoA Schools FouDd•tsll Our responsibilitles for the audil o(thE finN¢l41 $ttemettts We have beeTL appointed as auditors under S¢ctyon 144 of the Ch3riiies Act 2011 And Teport ID a¢corda¢ with th¢ A and nlevant regulation5 mad¢ or h3ving effect thereunder. Our obje¢knves arr 10 obtain reasonable assutance abour wbether the fin8rKial stst¢ment$ as a whoi¢ pr¢ ftce from rDarial misstatemen( ether due to fraud or eTTor, and to issue a Report of tht IndependeDI AuditOTS thai thrludes our opinion. Reasonable assuran¢t 1$ a hi8h level of 8ssurante, bui i$ not a guarante¢ that an audit conducted in ac¢oTthnce with ISAS (UK) wll ahy$ detect B maicrial mi$statement en it tK15t5. MisStateTiien15 can arise from fraud OT error alld are considrrtd mai¢ri81 if, individually or in the awegale, they ewld ieasonably be eycted io influence the economic decisions ofusers taken on thc bèsi5 ofthe5e financial statements. We ideDiify and assess the risks of ttui¢riaS misstatement of the finan¢ièI 8t1tennts. whether du¢ fraud or error, and then desigll and perfonn audit PTo¢edures responsive to those risks. includiD8 obtaining audit that is $uffi¢i¢ni and appropriait to provide a basis forow opiniofft. 1dentifiry.ng and ?ssessingpoiential ri5kn Telated to irregularities In ideniiOryTJ8 and assessing risks of nialerial mi$slateTh&nt ID respect of irtBgulariti¢s, llJ¢luding fraud alld non-compliance with law5 and regulations, we considered the following". Audit response to risks identified - the nature of tht industy and se¢ior, control eTLvironnxni and bts5ness perforn¢e iD¢ludin8 kcy driver5 for diT¢ctr>rs' remunera¢ioJ), bonus leve15 and perfwman¢¢ ¢aT8Ets - r¢sults of our enquitie% of Manageftnt and their vwn idtnlificatioll and as5¢5sment of Ihe risks of Lrregul8rities,' - any matte we ideDtifj¢d havtng olAained and review¢d thc ¢ompanicl of Iheirpolicies an6 procethwes Telalin8 to.. identifyyn8. evalu&ting and complyng Wifh laws and rttgulBtion5 and whether they were awBTe of &ny llJ5tsnce5 of non¢ompli8nce" - detectin8 and responding to the risks of fiJd alld wh¢th¢r th¢y have knowledge of any acth¥l. suspeci¢d or &lle8ed frdud., - the internal contro15 eStabli$bed lo ]niti8aie risks of fraud OT nOnMplI)nCe Vjith laws and regulations.. - the matteTS dIs¢us5 among the audit eng&Eement tcarn including it8•Tthn8 Jx>w aT wheTe fraud rnjghi ¢llr in the financ1 sth¢rn¢nts and 8nypoltntial ityJi¢ators of fra1 As a resuli of Ihtse pr(KcdLtr¢S, we considBred thc oppotmmities and in¢enlive5 that rn&y exist within the or8anisation fot fraud and sdeorified the gteatest potenti2] for fraud in relaiiots to revenue defrrr8Is. In Mmmon wtth all audit5 under ISA5 (UKI, we are ft150 required to pth 4>¢¢ificproc¢duTes to Te5pond the risk of m•st]¢t 0de. W¢ alw obtsined an undetstsnding of the Icpl and regulatory fnrkS rhat the Eompany opeTate5 in, focusjng on provisions of thosc It and TcgulBtions that h&d a diTe¢t effect on the deiermination of material arnor$ 4nd dise108ures in Ibe fintn¢ial st&t¢nrnts. The key la and regulations we ¢on5ider&l in this coDt¢xt includ¢d th¢ UK Companies Ac( UK CoTPOTate Qovernance Co0¢ and local tts legi51atiotL. In additiffj we considcr¢d provisions of other laws and Tegul&tion5 that do not hav¢ a dirwf cff¢¢i on the financial statements but coJ)Jplian¢c With which may be fimdamenlal lo the compAnys abiliry w operate or 10 avoid O TILqterial penalty. Audit r¢spon5e to risks identified Our procedures io respolld riskÈ identified included the follorynS'. - reviewng the financial 5tatetnent disclosur¢5 ard l¢stug 10 supporting docunLcntstion to a5se55 compliance with ptOWSiOJJ5 of relevant laws and re8llktiDn$ described as having a diiecl ¢ff¢¢t the fin*n¢iBI $t&ter[1s'. - enquiring of maDagement conccTTMng acttJJl and potential litigation and claim5," - performing analytical ptoceduru to identify yunUsUal or unexpe¢ted TelatiO]Jships that ]rAy indicate risk5 of materi41 tnisstaternent due to fraud., - Teading minutes of me¢tsng% ofihos¢ chargcd govcrnante - obtsined an undeT5tsndin8 ofprovisiolls £j held discu55ion$ with rnanagement to UJLderstthd th¢ b]$ of r¢twity)n OT non-r¢co8Oiiion of tax provision5' and Page 16
Report of the Indtp¢nd¢Mt Audltors to the Trustees The Lloyd willEllOr Schoo15 Fou0111n - in gdthrssing the risk of fraud through m2n2EEr¢nt ovtrride of control$, te5tsng the Jppropriatcnc5s of jounjal eJJtri¢s and other &djustrn¢ntS,' sSing whcthu the judgements rnad¢ in rnaking acc4)ullliLg estimates are indicative of pot¢niia] bias,. and ¢valuaTiLg the blLe$S r&ti¢)rJal¢ of any Si8nifi¢allt If8$tiOn5th&tarc Unusual or outside th¢ ]JomMI ¢outse of busiJks8. We 8150 Comm1¢d Tel¢vant idejrtified laws and ry]ation5 and potttntial risks to Lll enga8¢nt t¢4m I)nbe[s. aThl rernttijed alert to w indications of OT non¢ompli&tt¢e i¢h aud regulRtiDns throughout th¢ audit. A fwth¢r descriptionof ow resp(thsibiJitieÈ for th¢ awjit of the fir¢181 gtatemeto% 1$ IocAted fft the Fin7a] Reporti Council'$ website at www.fr¢.or8.ILkJauditorsresFo])sibiiities. Thi5 de5CriPtion f¢m5 Pan of our Report of thv ITMJtp¥ndeni Auditors. Ux of our report This TZPOrt is madc 501cty to the <lW5 mth¢¢s, as a body. in a¢¢cthe with Part 4 of ihB ChotitieE <AcCMIS and Reports) Re[tiOnS 2M8 Ow alIt wotk has been UTenake $0 that we might stste to the charity5 tn]sttts those mattus w¢ 8re requir¢d to staft trj Ihem in an auditors, report forno other pwpose, To the Mlest extcni p¢rn)itted by law, wc Oo not •r¢¢pt or assume responsibility lo anyone other thaD the charity and the cjwitys InLStee$ a5 A bodytr br our8j11wor for this repts orlor the opiniolls we have fonned. frofflc5 af Hanis Lacey amd Swaift Cbartercd Accourth15 and Slatutory Altr$ Suite I Tk Riv¢r5idc Buildiog HeIe East YolA8hitE HU130DZ PaBel7
The lthyo WIlU•MTr Schooh Foynditiom Sttement of ntIll A¢tivitie5 for tht Year Ettded 31 M•rrh 2024 2024 2023 Totsl fvnds as restyted Unrtstric INCOME N LYDOWMENTS FROM Donatio and le8acic5 966.080 756.789 Chari¢able ¢fltles TuiUOII Aillary 1.020.539 9,063 974,777 87.500 Tot•1 1,995.682 1.819.066 EXPENDITVRE ON CharftAble *ttiYltie5 1,886,878 1.495240 50226 17916 Total 1.937,104 lJ13,156 NET INCOME 5V78 305,910 RECONCILIATION OF FUNDS TOMI fiTrJ5 brought forward 477,386 171.476 TOTAL FUNDS CARRIED FORWARD 535,964 477J86 The notes fottnpartof Ihc5e fiuaTKial statenxnts Page 18
The Lloyd Willianwn &hotsls Foundatio BAIAo¢e Sheet 31 Mar¢h 2024 2024 2023 Total funds as restated Unrestricied fund Notes FIXED ASSETS Tangible asgets 12 2,276,023 37,472 CUKKENT ASSETS Debtor$ Cash at bonk 13 272,503 90,447 497,814 69.537 362,950 567,351 CREDfTORS Amounts falling due wiihin one year 14 1268,2261 1127,4371 NET CURBENT ASSETS 94,724 439.914 TOTAL ASSETS LESS CURRENT LL4BILITIES 2,370,747 477,386 CREDITORS Amounts fallinE duc after more ihan on¢ year 15 11,834,783) NET ASSETSIILIABILITIESI 535,964 477,386 FUNDS 17 Unrestrict¢d 535,964 477,386 TOTAL FUNDS 535,964 477.386 I ststements wcre approv¢d by the Board of TTILSt¢Es and authorised for issue . and were si8rtd on its behalf by.. on N Hailberry- Tnjstee The Th)1¢5 forrn part of these financial statem¢nts Page 19
The Lloyd Wlltsm50ll Schooh Foulld&tiD C•$k Flow Ststemettt roi th¢ Ymr Ended 31 Mrtkn 2024 2024 2023 - rEStat¢d Not¢5 Cayb flovjs from operatillg acflvitits Cath g¢n¢raied frorn operdtiolls 401.125 3A514 Net CAsh provided by opcrali08 activities 405.125 36,514 C•$h IIow5 frorninvesdng ActiYltle5 PuTchasE of tangible fixed as5¢ts 12.288.777) 16,556) Net c&th us¢d in invtstJng activities 12,288,777) (6.5561 Csh from tknattclRg xedvltlu Capiiai reFwneAts in y¢ar I,8,$62 N¢t ¢h providedby fimncllwactivities 1,908562 Cknnge IA t•sh aThd cash ¢qulv#kllts tht rrt1Thg perlod and tash tquivBleDts at tbe begSnoln% of IbÈ r¢porfing pethd 20.910 29.958 69,537 39,579 Csh and esh equlv4ltDts t the end of the reportlng perhjd ,447 69.537 Th¢ notrs fonn panof th¢s¢ fin8nci81 ststcJnBDts Pa8e 20
The Lk>yd WilllaTwon ScknDb FoundtloD -Yot¢s to tbeCAsh Flow Ststtmtt for the Year Ended 31 Marcb 2D24 RECONCILIATIOF4 OF NET INCOME TO.YET CASH FILIW FROM OPERATING ACTIVITIES 2024 2023 a5 rest4t Net Ineome for the reportlog perlod ptrthe Stal¢rn¢Nt of VE#And&l Aciiviti¢s1 Adlu$tments fpr: Depreci&ti¢)ncharges t¢85&11¢T¢al in debtoys ArKTeas¢ in edItorS 58,578 305.910 50,226 225,311 67,010 17,916 (312,843) 25,531 Net easb provld¢d by operatiODS 401,125 36,514 ALYSIS OF CHANGES IF NET FUNDSIO)EBT) At 1.4.23 Ca¥b tlow At 31.3.24 llet ¢5h Cash AtbaDk 69.537 20.910 90.447 69.537 20,91 90.447 DEbt Fin4n¢e Itt%es 11,908.562) I1.8.562) 11.908,562) {1,908.562) Total 69.537 12,887.6521 (1,818,115} The notcts fonnpart of Ibe5e fiJwia] ststerrMS Pa8e 21
The Lloyd Willi4mJon Schoo15 Foufvdaiton Notc5 to thc Financlal SttetnentJ for the Year Ended 31 M8r¢b 2024 MATERIAL UYCERTAlhTY RELATED TO GOING COYCERN Th¢ Charity rn8de a wTplus of £58.578 12023 - £305,910). This was after receiving a significant donation of £73],0(I2023 . £497.0)1 and The a)rrity claiming 8]ft Bid on It. Witknut this don&tign Th¢ Charity would hive incurred t biggcF1055. The support of the donor is cxpectcd to continue for wm¢ years and The Charity i5 d¢pBndattt thi5 support in the early years of operntion. Withdrawal of the sUPPOrt would significantly impact on The Charivs ability lo contnue 85 a Goin8 Conrern. The Tnjstees ar¢ confidtllt Ibi% 5UPPQrt will ¢ontinutt. ACCOUNTING POLICIES B5is of prtp•ring tbe finantlal stttmentS The financial #at¢Tnrnls of the charity, which 1$ a public benefit entity UDd¢r FRS 102, hAvc been pwared ill ac¢ordkn¢¢ K%ith the ChBTities SORP IFRS 1021 'Aonting Reporting by ClJariti¢s." Stalement of ¢ornmCdEd Ptice appli¢abl¢ ro charitie5 Preparin8 their atcounts in a¢tordance with tht Finan¢i81 Rewrting StsndaTd applicable in the UK aDd Republic of Ireland IFRS 1021 leffectivt l January 20I91', Financi1 Rcporrin8 StandaTd 102 Th¢ FinaDcial R¢portinB Standzrd applicablt in iTrrt UK and Republic of ]land, and the Charities Act 201 l. The fLDan¢iai stste]nents hav¢ been prepared Trmdet the hi#oricv41 co conv¢ntion. The Charity is aware of thelr financial p)5iiion ot tb¢ yeat etsj. The accounts hRve bten prcpared a goiDB Concern basi5 as a r¢sult of the bud8eis that th¢ Charity has prepared for the next three yeaTS. It wa$ fe]1 tbat thi still ab appiopriate bas ofprepATation. lft¢orn¢ Income retcived ftsr 5ervi¢es provided 15 arcounkd for on an accnjils basis. Casb donations? 8ifts 4nd kga¢ics 8r¢ included in fvll in the income 2nd ¢xp¢nditur¢ o¢cDunl they ale received. Any signifitsllt AOll-¢èsh donaiitsns 8Te in¢ltsded in th¢ Iorne and expendifurt acc(XllJt atthe tnJstee5' t51in%t of their maTkct value when rcceived. The value of vr>luDtary h¢lp is ttot irKludBd in the llccounts. Grdnts and other fi]nding of a revenue llattwe are deferred And r¢l¢8s¢d lo the income and txpenditUTe acco1 over the period to which Ihcy retste. Bank Intetegt 15 iflcluded ID the income and ¢xpendiTure account OD an acerua15 b)si%.. Expendlire Liabiliries are Tecognised as expendibC 8$ scon as ther¢ is 8 legal or ¢onsttuctive obligation committujg the charity lo that ¢xpendin7re. it is probable th21 a transfer of ¢conomi¢ benefits NNryll be requircd ih 5eiilement and th¢ amount of the obligation can be meBsured reJiAbly. EXnditrE is attounltd for on an aCCnlS b45i5 and ba5 been classified uLdeT head5 thai aggregate all Cost telatsd 10 the ¢aEory. Where cow canoot b¢ th'T¢CtIy &ttributed to pgrtscul8T headings thry h#ve bctn allocated to acliviiie5 on z bo%i5 consistent uryth th¢ use of re50UTces. TAg1b fixed Ktts Depreciation is provided It ihe following atjnthl rates m order to lte off È&¢h asset over its estimated u8efjJJ IA>ng le&sehold lrnprovernenls to PTopcty Fixtrjrcs and fitting5 Computcr 4u1Wll* overlength of lease Straight line over 15 yeaT5 25Y• on ¢ost 25Q/o on ¢osi Ri8ht of Bjset The Charity hav¢ chos¢n io tarly adopi thc rtw FRS 102 SecliDn 20 a]wJd]n¢nts and haN'E ttKTefore a55E5sed that the lease of land is a right of ust asset. As a r¢5ult thr lus¢ has bccn T<%ognised at th¢ present valuE of UDpaid lease payments ov¢1 thc l¢ase temL distounted usin8 a risk-free Ate. The leHse liabilsty h85 then been recognised between current and long t¢m? liabilities. Pag¢ 22 ron(inUEd...
The Lloyd Wllllw50n Sthoo15 FouTrdation Notes lo thE Flnan¢l41 Ststemet$- CDThtinued for tht Yrdr Ended 31 March 2Q24 ACCOUTrTJliG POLICIES. nioned T•ngibk fixed #ets The lease asset ha$ bBen d¢preciated in lintt the l¢wh of the lease term and wll be subj¢ct io atj aDnual impnirnxnt review by th¢ trustees. Taxation The cbaTity 1$ exempt from lax on 115 ¢haritsble actiiiti¢s. Fund actounting unrtricted fiJnds can be used in ac¢ordaMcc thc ¢haritsbl¢ obitiveS al thc dis¢retlOD of the trslee5_ Restricted fimds Can only k uscd forparti¢ulr reslricled purpose5 Iirylhin the tsbjec15 of the charity. Restrictions arise when spxifiedby lh¢ donororwhen funds are rais forpanicularTestncted purpDSes. Furtherexpl•nation of the nattt a]¥J putpose of each fid 18 included in the notesto the financial strrKnty. P¢nslon costs and other postretlremetst btHefits Th¢ cknrllt, 01xrlci a defined contribution pension srliL'niC. CoTrii'ibiigitsn% Piivabl¢ li) Illi charity$ peDsioD scheme arL' Lharg¢d to the SiaiciiKsii (if FI[1CtI7 I ,l¢iivilics iii th¢ i?LriLNI 10 h&Cli IliLyTc1L'. FlttanclAI ltt$¢rurnents Fin•n¢ial kn51nuxnts aTe ¢1&%5ified and Ounted for, a¢cording to the subsknce of the ¢ontractuJl 8rrange]nBni as fal&l assets, fLDancial liabilitie$ or equlty instruments. An tqthty instnjrncnt is any contrAci that eviden5 a residual inttr¢51 int he &%ses of the cornpany afterdeduciing all of its liabilities. AccouDtln8 EstimDt Tr yerthraiion of ili¢ finpDLi31 staiiiiients rcqiiires iJwnag¢nKns io make jud&cmciitS. i411I112t¢$ and as%UlllPtii)nS that 817ici th¢ atnoiini% r¢wrtLd. I'1114 Incl1c% the LI1&L ol. diprkLiatton m¥ll14 appliL(I to fixed asKis and prov¢8lOll5 for l¢ga¢i¢$. Th¢se e5timat¢s tsJ jUdgerrt$ are cDntiDually re¢Wed and are b8scd on experieJKe And other factors, iDcluding expe¢ratiolls of fith]r¢ ¢vents that ate brlicved to be reasonable under ¢IT¢unnE D¢btor5. Credi(or5 ProvisiODS Debtor5 ar¢ measured al their rtcoveAble Brnounts 8¢ the balance she¢t date. TTad¢ and other debtors are OgnISed ll)itially at transaction Prbce less atrributable ttan5aciion ¢05ts. Liabilities are in¢lJed foi theprovision of the oufflow of in rclotion to th¢ following classtfJ¢ations'. Liability- WhcTe there is a definite ¢ommilment lo an outflow of ettsnomic benefit with a know) valu# Provisii¥n- Arising fTom a PTe$enl obli]0 to p&y a third party arising from • Fast eyenl. Wher¢ the amDunt j8 not kno) a renable c5timate is made. Commitsnent- Atisin8 from a ée¢i$iott to conujyt ¢0 a li&bility, but where no Work stsrted 8Dd no payncnt been but where a contsatl may hève EeD enteT¢d into. Trnde and other ¢Tedi¢oTS reColSed imitial transaction pri¢¢ plus attributable trLnsaclioTJ ¢08ts. Subsequent lo iDitial t¢¢0)llIon they are mered at anx>rrised r05t Using the ¢ffectivt inlucst less aD itDpa2trn¢nt loss the ¢*%e of trad¢ d¢btotS. Page 23
Tre Lloyd Wilkn•mso# Srhooh FDund?tlon Note$ ¢0 the FlnaTrcial Statements- ¢Dntiny¢d ror the Yur Ended 31 March 2024 DONATIONS MD LEGACIKS 2024 Dothattons 966.08D 756.7¥9 INCOME FROM CHARITABLE A[VITIEs 2024 2023 as stste Activity Gros$ Fe&s from Parents and GuaTdian5 Rent Inc¢)Tr Tuition Ancillary i.n?(1.£3V 4.IK)3 974.177 1.O?9.6(11 1.061 777 CHARtTABLE ACTIVITIL8 COSTS -gupport Direct Costs Tuition CDSts SUPPORT COSTS CJOYtn%lTlke inAn¢L To¢a15 Tuiiioll Costs 67.668 275.011 AUDITORS. REMU.NERATiof4 2024 2023 as testaitd Ftes payable to the charitys auditor5 foF th¢ a111 of the charity's finantial 12,0 TRUSTEES, REMiJNERATION AND BEET8 One Ttth. MT Z MaTW]rov, w85 cmp]oyed by th¢ School for 2 n¥)uth5 to COVeTpaternityl¢avc. Thi5 anM>unted to £2,63112023 - £nill bemg paid the Trus by the School. Pension Costs of £nil12023_ £nill were also Pild to Mr Z Mansurov. Trnstee5' expenses There were no te$, exp¢nses paid for the yehr ertded 31 March 2024 Dor for the yeaT ended31 March 2023. Page 24 continu¢d...
The Lloyd Willimson Stlmls FoundtioD otes to tbt Finan¢ial Statements- contioutd for the Yt¥r Ended 31 March 2014 STAFF COS13 2024 2023 as restited Wage5 Bnd 5a)arie8 Social security costs Oth¢1 pension costs 677,892 46,770 12.455 597,533 41,459 lQ.791 737.117 649.783 Tbe average n>)nthlynumberof etyloyees durin8 the ye•T WIS ts folknws.. 2024 2023 as tettatrd Key PeTsonnel General 30 26 34 29 No erDployetS received ¢molwnents in eKce55 of £,[]0. Both the CEO and tsPrincip¥t are volwLtetrs Bnd don'ttakt a $alaryfrom tTrK s¢hool. Tots] key rnanagwnent persollnel pawts fotthe yeaT wer¢ £70,63412023- £65.9881. Total tyusttes rtrnuneration pyrnents forthe ye8r w¢re£2,63l12023. £nill. io. COMPARATIVES FOR THE STATEMENT OF mATrICFAL ACTIVITIES Unre5tricLe<l fvnd Is rGiated INCOME AND ENDOWMENTS FROM Donations and legacies 756,789 Charitable ¢tlvitiei Tuition cillary 974.777 87.5 Total 1.819.060 EXPEf4DITURE ON Charitable ictivjdr Trition Costs 1,495,240 17,916 Tot ,513,J56 NET INCOME 305.910 Pag¢ 25
ThÈ Lloyd Wlllirrthn Scboo15 .1¢$ to tht FithgNtlF Statements- ¢DntinD¢d lor the Year Kndtd 31 Martb 2024 io. COMPAL4nVES FOR THE STATEMENT OF FJNANCIAL ACTtVlTILS- tontlnued UDrcskncted as restatcd RECOliCILIATIOI¥ OF FUNDS Total fvnd5 bTought forward 171.476 TOTAL FUNDS CARRIED FORWARD 477,386 li. PRIOR YEAR ADJusfMEWT There has b¢eD an mad¢ to eJTor tegardiDg 8Jft lid to k ft¢Eivcd, which claiNd back 2023. The overAII adjuSht i5 a decT¢a$e in 2023,5 resee5 of 8.700. A corrtsyonding adJkneDt. of the Satr volu¢. has be¢nTtJade in the Gurreni year. iJKreR$ing r¢$erve$ by £258,700. 12. TANGIBLE FIXED ASSETS lrnprovemetrts Fixtures Lon8 le8s¢1k)Id Computer equiprraent PFoperty fittings Totals COST A¢ l April 2023 Additions 62,500 5,846 9.166 929 71,666 2.288,777 1,822,784 459.218 Ai 31 M*Tch 2024 1,822.784 459,218 68.346 10,095 2,360,443 DEPRECIATIOP4 Al l April 2023 CTh4rge for year 31.250 17.087 2,944 2,524 34,194 50.226 30,615 At 31 March 2024 30,615 48J37 5.468 84,420 r4ET BOOK VALUE At 31 MaTch 2024 1.822,784 428,603 20,009 2.276,023 At 31 NlaT¢h 2023 31,250 37,472 8¢26 continucd...
The Lloyd Wtlllwo• SchoD]s Foundatlon Notes to the Finan¢ll Sttsfftnts- continued lor the Year Ended 37 Mr¢h 2024 13. DEBTORS: AMOUNTS FALLING DUE WITHIN, ONE YEAR 2024 2023 as restated Trade debtors Other delxors PrepRyments and accrued in¢omc 133264 135,0(K) 4,239 446,598 36.381 14.835 272,503 497.814 14. CREDITORS: AMOUNTS FALLIliG DUE WITHIN ONE YEAR 2024 2023 as restated Luse obligation$1se¢ notr 16) Trnd¢ credJtor5 Taxation and ¥id] 5exuriry Other ¢rulitOTS 73,779 34,729 54.417 105,301 {15,9531 40.020 103.370 268.226 127,437 Included wrythin credtloTh atove is deferred incom¢ totalling £70.314 {2023- £8,654). The mDv¢meni in tht yeAr is as follows.. Charitsble activill¢5 Totsl At l Aptil 2023 Released from Ff¢ViOUS ye4r$ Dcfcrted in The cuttentycaT 8,654 18.6541 70J14 8.654 8,6541 7,314 At 31 March 2024 70.314 70.314 ]nwmiLg reSOUTces h4v¢ only been deferred in Tespert of monie5 r¢r¢ived in advance of th¢ SCT%ry¢¢S being delivertd. Page 27 ¢ontinued...
The Lknyd WUli•mson Schoob Foundathn Notss to the FIDanctql stst¢Meb- continued fortbe Yur Ehded 31 MarclL 2[124 CREDITOIL8.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 LeEse obligations (see nots 161 -Tr4.7%3 16. LEASINGAGREKMENTS MinimuD ka8ep4ymBnts fall due as follo.. Fir It&5es 2024 2023 a5 Te5raied Ne¢ obli8ations repable.. Withill OD¢ year Between on¢ and fivE )r3rs Jn more thatt fiv¢ years 73.779 463.991 1,370.792 1,908,562 NoD-uncellRble op¢ra¢itts 2024 2023 as r¢*&ted Within o]Je year BeNeeD on¢ and five I lo mor¢ than five y 1.939.fMMI 17. MOVKMFNT IN FU.YDS Net At 31.3.24 At 1.4.23 in fjmds UThrestrlcted Unrcstrictvl 477.386 58.578 535.964 TOTAL Fuf4DS 477J86 58 J78 535.964 Pège 28
Tbe Lkbyd Wllllntson Schoob Foundation IYoteS to the Flnn£lal Ststsments- continvtd for the Year Ended 31 March 2024 17. MOVEMENT FUNDS- ¢•nllttued Net veMenT in thds, ilded ill the abDve ar¢ 85 follows.. Inmming re50urre$ R¢sowc¢s exptnded Movemcni in fimds Vnrestrltted fuDd5 Unrestrictcd J,995.682 {1,937.lQ4) 58.578 TOTAL FUNDS 1,995,682 11.937,104) 58,578 Comp*rntiVes for movemEnt in funds Net A¢ 1.4.22 in fvnd8 31.3.23 Unrtstrl¢ted funds VnTe5tricled 171.476 305,910 477,386 TOTAL FUNDS 171,476 305,910 477,386 Cot)x)atstive net movemetst ith fi]D&, included sn the a&)VC 3Te as follows.. Inctrmlljg Tes01]rces R0ceS eXded Mov¢m¢ni Unrestricttd funds Unre5triited 1,819.066 {1,513,1561 305.910 TOTAL s 305.910 A c45rrenl year 12 and prior year 12 rnonths conbined position is as follows.. Nei movezneDt in fwjds At 31.3.24 At 1.4.22 Urtresiricted fuTrd$ Unremicted 171,476 364.488 535.964 TOTAL FUNT)S 171,476 364.488 535,964 Pag¢ 29 conti[ed...
The Lhyd WlllimsoD Sebools FoMndAtiDn 'otes the Flknnel41 Statements- ¢oftt6nued for ihe YeAr Endtd JJ March 2024 17. MOVEMEliT IN FUTS- eontinued A ¢utrent year 12 month5 aThl prior y¢Br 12 ¢ombi]*d net movemenl in bmds, irKlud¢d in the &Frf)ve are as follows.. Incomin8 resources Resources txpended Mtsvemcnt LD fijnds UtrI¢ted funds Unrtstri¢ted 3,814,748 13,450.260) 364.488 TOTAL FUNDS 3,814.748 13,450.2601 364.488 IB. EMPLOYEE BENEFTf OBLIGATIONS For OUT i¢aching SUPPDrt stsff wt offtt a defined ¢OlltrThiuti¢)n sctRll which is eTIted by Ntsi. Ivho will mEcl ony futurL. liabiliiy. Contrbl UtiDD$ of £28,950 12023 - £23,262) made durin8 the yrat and expenses to the ptofit aiml IIlS% all<)111. 19. RELATED PARTY DISCLOSURES Included ID repaiTS and r¢new81s are paid io the CEO'5 husband forv undenaken at the school. tra[C0$ totalled £52,62412023_ £34,325). A lotsl of £412023 - £nill is behind creditOTS ai th¢ financial yw ¢nd. These transaction5 w¢re ail ai anrys, lenBth. Pagc 3Q