REGISTERED CHARITY NUMBER: 1193132 Report of the Trustees Y4nd Finaryci81 St3t¢m¢nts for the Year Ended 31 March 2025 for The Lloyd Willian￿n S¢hoo15 Foundation HLAS Audit Limiied Suite I, Thc Riverside Building Livingston¢ Road He88le HIJ13 ODZ The Lloyd Williamson Schools Foundatiofj Contents of the Fin*nti#l Stattmettts for the Year Ended JI March 2025 Page Report of the Trnsteés Report of the Independ¢nl A￿dItorS StAtemtnt of FiDAn¢ial Activities 17 Ballnce Shett 18 C4sh Flow Ststement 19 Notes lo tht Cash Flow Statement 20 Notes to the Fin*n¢ial Statements 21 10 30 The Lloyd WilliY4nwn Schoo15 Found#tion Report of the Tru5tee5 for tht Year Ended 31 Maryh 2025 The Trustees of The Llo>d Williamson Schools Foundation Charity present their annual rtpon and audited accounts for the vear ended 31 March 2025 bnd contirtn the) cotnply wilh the requirernenls of th¢ Choritics Act 2011. the trusi dttd and th¢ Chariti¢5 SORP IFRS 1021. Page I The Lloyd WilliAmson Sehools Foundation Report of the TTU5tet5 for the Yeir Ended 31 March 2025 0￿ECT[VEs AND AcrIvrriES Obje¢tive5 and aims Our Aims The Lloyd William50n School$ FoR￿datIOn is a CIO- FOUNDATION ￿gistered on 18 January 2021. The school wa5 originally founded in 1999. Th¢ obj¢rliv¢ ofthe School is 10 advance education for the public benefit in such way5 a5 the chaTitv trugie¢s thitth fio in particular. not eXcI￿1velY. by operatÉng school5. We aim 10 providL an exccllent education io children from the 3g¢s of 4 Tnonth$ 10 17. We PToiide a struciurtd educaiional ¢ni'iTonTn¢nl th&L develops our pupils, capabiliiies. Lompciencies and skills. We promot¢ th¢ a¢ademic, mord and phvsical dei'elopmeni of our pupils ihrough our curricvlum. pastoral care, sporting and othcr aclililics. W'c proTride an educational environTh¢nt N%'h¢r¢ each Student can develop and fijifil their poitniial, building their $¢lfrfoDfidence and inLuleatirtg a desire 10 coniribute io the wider community. In so doing. w.e prepare OUT pupils for the opportuniiies, re5pofLsibililie5 and exp¢Ti¢n¢¢ of later life. Day 10 day rnanagement of ihe Schools is delegated to th¢ C¢-PTin¢ipals with the support of the leadership team. Our Obje¢tivt5 and Eth05 Sehool Trision & Values ()ur school strives to creat¢ a nUr￿rIn& inclusive, and academically excellent environment where every child f¢els alucd and cmpowtrcd 10 reach their full w)iential. We telebT21e diiersiry and encourage curiosiry. crcalivity. a lifelong lov¢ of learning. Our Approath Indiiiduali/.ed Edu¢aiion'. Wt offer small class Sizes and a p¢rsonalized Lurriiulutn tailoT¢d i¢ ¢a¢h studeni's needs and learrring si>lc. Holistic Dci'clopnient.. Tn addition to aC2demtC siudv. li'e focu5 on social at)d emotional leaming. chaTa¢ler de￿LS0pmen[. and butlding Yesiliencc. Saf¢ and SuptKirliv¢ Comtnunily. Our SLhool fosters a ii'elcoming and inclusive a¢mosph¢r¢ where students f¢el sale. rc5PCLttd. and supwried. Our Go#Ls AcademiL ExL¢llenbc'. We ar¢ cofftruiti¢d ￿ providing a highsuality L￿uLaLlDn thai prepares Sti￿entS tor sueLess in srhool and beyond. The studcnis art encouraged 10 think aboui rh¢ir furures and to develop utnbitlOU5 8ou15 f(>r their livcs and carccrs. Stud¢nl Well-being. We prioriiise ihe emoliunal and social w¢ll-b¢ing of our Students. rr¢ating a positive and nurluring leaming environment. Communiw Erwag¢m¢ni.. W¢ believe in building strong partnerships wilh fatnilics and the comtnuniry to 5UPPOrt studerti suecess. Stralegies of Achie￿ng Aims Objettives - Coniinuc 10 ivork with trustees and staff ￿ Tnaintsin and promoie the school's unique ethos. Preparing an aniiual school itnprvwement plan. Crcaiing an anrtual Sell'Evalualion l.-ramework. - Asses5 Success ihrough the progr￿ of earh Individu￿ ¢hild. Crittri# to #ssess $rLt¢tSS Reviewing th¢ School Improvetnent Plan Ttgularlv io measure progrcss. Plan to me&%ure each child's mLmial well-being using the Cambridge Iw'ell Being scores Exam results Page 2 The Lloyd willian￿0￿ Schools FouDdatio Rtptrrt of tht Tr￿Ste¢S for tht Year Ended 31 M¥rch 2025 Admission Pro¢e8S We welcome students from backgroL&nds and abilitie5. Our admis5iOrts process focuses on ￿5¢sSIng a slud¢nt'5 poienlial. We do not discriminate based on race, eihnicity. religion, gcttder: or socio¢conomsc Status. Trial day$ OTe undertak¢rs to $aii5fy ourselves ?￿d parents ihai poiential pupils can b¢nEfit froTn the education we proiide. Saftguarding The Safety and well-bcin8 of our students are our top priority. We cojnrnittcd to PToviding a safe and Secu￿ learning envlTonmenE for all. Otsr Commitment Our learning 15 based on a foundation of building strong rtlarionships betsveen 51aff a[￿ students- we are all on a first naTh¢ basis. Our team work closely to provide an eK¢iting and engaging curriculum alollgside extra Curri¢￿ar activities such as trips. projccts. short filtns elc. These carttiillv designed 10 meet the individiial needs of all our pupils, and 3dapted to gtret¢h student5 Of all ability. while ensuring that no StUd￿l g¢ts left behind. Staff rettive regular trairtirtg to develop this vision. OUT Core Value5 Cre#tivity- We fosier imaginative thinking and problem solving across all areas of school life and ask them 10 find their own 501utiOll5 to problcms Individu*lity. We celebrate what makes each unique. W'e want our students 10 bt confident in themselve5 and help thetn digeower ihcir passions Rel#tiothship - Relaiionshtp is at Iht heart of all our leaTnin8. We model ¢mpathy and Understat￿ill￿ through conversation and work together to build a blight lthtsre. Resilitntt - We encourage students to build their stren￿h and ne￿bility to meet the challenges of a rapidly chan8in8 orld Asp?r*tion. We motlN'3* OUT Students ro be ambitious and support th¢Tll to Teach their goa]. Our key objective5 for the year= . Appoint Loii'er School Loordinator lo raise academi¢ st3ndaTds and expectaisons Improve the look of ih¢ schools with wall an to irtLiea8e the nurnbers of tull tee-paying siudents on roll by appoiniing a markeiing agency Re-introduce Drama as a subject a5 it devclops cvnfidence everall io all pupils. to r¢cruil a new headieacher to replace Luc). M¢y¢r ￿h0 1$ leafvirtE in August 2025 prepare for lh¢ new inspection structure now we are ivith the ISA. The inspection 15 IVSth the Independent Schr>ols Inspectorate Equ*l Opporthnitie5 We are an equal opporiuniiy organisation and are cotnrnirted to a working environment that 15 free frorn any fortn of diseriminaiion on th¢ grounds of colour, race. ￿hniCIty, religion, sex. rnarilal Status, sexual orientaiion or disabiliry. W¢ 'ill Tnak¢ Teasonable adjusimtnts to Me￿ the n¢¢ds of staff or pupils who are or become disabled. CommNuication with PareDts PaTenlS aTe givcn rcgular informaiion about their children's social and acad¢mi¢ progress through parent evenings in the Spring Term in addition io end of reports in Dectmb¢r and July. Arademic progress and behaviour and praise can be found by parcnis in our MIS systeni. AIMS. We havc an 'Open t)oor' policy- par¢n15 can contaci Iht school ai any lime during Ihe y¢ar for addiiional informaiion. We maintain regular contact with parents throughout Ihe ihrough infonnal Lontacts and through our newsl¢tt¢r. Pupils have a Pasiorai Tu￿r r¢srrf)nsible for pasioral Care and aLademic developmtni. We also have a student council who are involved in developing the school. Page 3 The Lloyd Il'illiatThsoll Schools Fouthd#tioL Report of tht Trustees for th¢ YeAr Ended 31 Mxrtb 2025 Mtlltoring alld Mtntal Ht4lth Support We have a programme of m¢ntoring for childr¢n. Sev¢ral staff are qual&fied in supportiri8 children's rnenlal hea]t]L Dcb()roh Thackcraj Bnd Lucy Mcjcr art mental htalih leads. ￿mPletIng additional Iraining in November 2021. Staff TrainiDg All 51alfr' Lotnpleic regular Iraintng in saf¢gu2rding, health and safety and wellb¢ing via TFS Educare. In person training is al80 held each terni. Wc have our own in house first aid trainer and all staff are Irain¢d in pa¢diatric fir51 aid, with 9 slatr a150 having otnpl¢t¢d th¢ fvll First Aid )t Work training. PositTve Handling Iraining is llndL￿rtaktn ever), 3 years. Children from v&qr l upwards are also laughi fir51 aid. Pa8¢ 4 The Lloyd Williamson Sthools Foulldition Report of the Tru5tee5 for the Year Ended 31 MAr¢h 2025 OBJECTIVES AYI D AcfiviTIES Significallt activities BuildittES Froni January 2024 to November 2024, The Ilpper and Lower Schools as well as the nursery were all combined #t 77 St Ch4rl¢$ S4uare London WIO 6EB. wilh additional spac¢ Tented from Si Plus Church (the ann¢x¢l. This was while the new building ai 206 - 208 Latimtr Road was refvrbished. The year5 9. 10 and I I were able to mov¢ into the new building irt November 2024 wilh th¢ years 7 and 8 joinin8 thetn in January 2025. From January 2025. 77 St Chtrles Square became used for th¢ LO￿¢r School and Nursery 501ely. Pupil numberB and fee5 The introduction of VAT on school fees from January 2025 has ¢r¢at¢d a difficult economic clitllate and has meant that piipil numhtr have rni grown. Pupil zjumbers.. - 33 Upper School - 20 in School - 21 in ReceptIo￿lur$ This remains well below our taTgei figure of 140. Hoivever. bv April 2025, nurnbers had dropped lo 47 in the Lower and Upp¢r Schools. Some childrta enroll¢d 2n Sepl¢rnb¢r 2024 M'eTe ottly on shon rerm placements. whil¢ others left for financial reason5. It should be t￿ted tknt fee arrt4rs continue to grow. It is exlr¢tnelv ditTicult to ask parents to rerrLOV¢ chsldT¢ll be¢awe of unpaid fees 8s Ihis would l¢ave nu]nb¢FS in some elasses unacceptably low. Our fee incr¢a5¢5 this y¢ar There approximaiely 3¥0. siill making the fees less than many nearby independent school5. Our fee5 for th¢ current year betore the deduction of an>. means t¢sted bursaries and scholarships Here £6,250 for new pupils and £5600 for exisiing pupils prior to 2021. Thtrt Is al80 addiiion31 £500 per ienn fee charged to SEN pupils. Nursery fees also increased and aTe charged PTO-raia. Paren18 can cknose how TDOny Se￿10nS they bwk in nursery. IS ho￿￿ fimding for eligible working pareffls has helped many parents the nursery. All 34 year olds are eligible for tunded 15 hour a week nuT5¢ry places. Most children attend for Tnore th8n th¢ 15 houjs. Digitsl Managernellt Sy5¢e Man). aspects of gchool lif¢ are record¢d i'la AIMS. OUT MIS. Attendance. lim¢tabl¢, pupil bEhaviour and praise, homework. attainment. report5 and saftguaTding can all be found on AIMS. All teaching siaftand LSA5 have access and parents have access to infomiation recordd about theiT child. Academic Achievtments Our ICJCSEIGCSE opiions are rn0￿ Traried than most schools. including unusual subjects such as Astronomy and Film Swdies as th¢ s¢lK)ol tan offer GCSES from the Cambridge Intemaiional. OCR aiid WJEC boards. RaTely. do siudcnts have to choose bttweett subj¢cts- w¢ can offer aitnost all ¢ombinaiion8 of 5ubj¢cts. In 2024, 680/0 of $iudenis achieved grad¢5 4.9 at their IGCSEslGCSEs. Unexpectedly low resthis in Food and in PE skewed ihose results som¢Nshat. Results are expected 10 b¢ improv¢d for the June 2025 seTLes. Wrip AN¥llnd tart We currentlN' i)ffer a breakfast club and after 5cly)ol rlub urttil 6pm at no additional charge. Tak¢ up of this facility is w mostly by pupils in receipt of bur5arv places. There is also a holidoy club op¢n to our children and children fro other schools which 15 Teason#bly prictd. In addition. there are various specialist after schovl Llubs. Currendy. gardenin& chess and backgammon and Lego. These are subject to chang¢ and tske up h&$ been much lower since Covid. Sthool llufgery Lew51etter5 Page 5 The Lloyd Wllli#mson Sthools Founditio Report of the Tru$tees for tht Y¢ar Elldtd 31 Mxrth 2025 o￿EcT￿.Es AND ACTIVITIES School and nursery n¢¥551¢tt¢T5 ar¢ publi5h¢d every week or IWO, Wjth useful information for parents and a celebration of hildren's achievetnents. Sport This academic year. we have had 2 sporis Loaches. Taryl Mendis and Bojan z.unic delivered our Friday PE, givTrng more opporluniiies for vaTi¢d sporting aaiviiies. l)n¢ pupil is a ¢ount>' SqU85h player, on¢ a rountv cross country rL]nner and one is European fencing champion in the U-15s. Sthool Trips Th¢r¢ werc plenty Ot scknol trips in ihe last year. The school is very fortunate in having the south Kensington Museutns on th¢ doorstep as a resource. Ytar I Is w¢nt io se¢'Wicked' a5 iheir end of year ir¢at. Years 7-1 I wtni to Ihe V & A & Science Museum IK'onderland- )¢ar 7-11. TheT¢ Wtre cinema iiips foT Sprites to year 8. In Dcccmbtr. Ytar I l ￿en1 10 the Barbiian 10 see 'A Midsummer Nighi's Dream. and Sprites and Ch¢rubs went to 5¢e the Faiher Christmas play ai the L>'ric rh¢air¢. Harnm¢rsmilh. In 2025. Years 7 and 8 visited Ihe 'fow¢r of London Anoih¢r ih¢?Ire Irip was held in March - years &10 $2W HadestowTr and in April. }'cars 9 and ID had a tTlP 10 the ScienLC Museum. The Filtn Studies Sludent5 went to g revision talk ai Ihe BFI. Annual projttt I'e held the atjnual Project in Spring 2025 based on a date. Every child was given a year in history and had 10 create a projecvari work b&%¢d on ii. Th¢r¢ w¢re prizes lor lh¢ winners. Thesc aciii'ities gii'c each child rh¢ opportuniri to expre&s th¢mselve5 in iheir wa). porti¢ulgrly ¥iving le55 )cadetnic children the thartLe 10 achie￿￿. in oihtr il'ajs. Pastoral Pasl()r￿ caTe and siudent Wel]bell￿ remains at (he cenire ot'iht sch￿1,5 ethos. Pupils in years 10 and I I receive regular menioring to help ih¢m achi¢v¢ ih¢ir goals. s¢￿01 counril meelings are held regularly and the wishe5 of the students are taken into consideration by Iht C()-prinLipal$. Charities arbd fundraising Wc h051 a colleLtion lor a local lood bank to ￿'hIch pupils and parents regularly coniribute. Mufti days are held Tcgularly to raise mney tor J&qns ti)r (ienes Children in N¢¢(L Young Mind5, R¢d Cr955. CTl$iS and toany otheTS. Bursaries Thi5 year ihe valu¢ of rncans t¢sted bur53ri¢5 ioialled £393,000. They provided as$isLThce 10 50Q/o of our pupils of which 6 pupils benefilled from a full remission of fees. Th¢ shonfall in fee incoffle 15 r[1￿ by fvndrai5ing and donations. The chtirily is currtntly supported by a benefaLlor who believe5 that the unique ethos ot the School should be preserved. This enables the school ro coniinue io provid¢ bursarie5. Revtevi ursaries are reviewed on an annual basis in July to ¢n5W¢ that families in receipt of bursariL¥ and still ￿llY entitled 10 th¢Fn. Public benefit Th¢ Trustees ht>ld a regard to CC / CCNI Guidance in relation to public benefit. Page 6 The Lloyd WilliaJn50n Schools FouDdatiOEL Rtport of the Trustees for the Year Ended 31 March 2025 FINANCIAL REVIEW Financial positio The financial siarements 8￿W incoming r¢sourc¢5 for th¢ year of £325.601. The principal source of income is ftes and donations. The T￿￿tr¢S are continuing their strategy ol deplo>'ing a]1 net incoming r¢50UTG¢S to investing in the educaiional purposes and fabric of our Junior and S¢Dior Schools. As a charity th¢ par¢nts of our pupils have the assurance ihai all the income of the khool must be applicd for educational purposes. While in prtVlOUs )eaYs, 85 an ediKaiional charit!, w¢ were entitled to ILK exempiion on our educational a￿1VIll¢s, this is no longer ihe case. Follom'ing on from the imposiiion of V AT on ￿h￿OI fees, the 800/è reduction on business Tales on the sehool premises will also b¢ I'¢moi'ed fvorn 1st April 2025. These linancial benefits e recei%ed froin these exemptions weT¢ all applicd to educational purpose5 and the 1055 of thetn ha5 been to th¢ detrirnent of the 5¢FK)ol. However, we aT¢ Dow able to r¢ciairn VAT inpui i&x on OUT vatable costs such a5 buildirjg work. $tationery eic. considerable repavm¢ni of VAT is due on the building Works compleied * the Laiimcr Road building Itjow kno1￿ a5 LWS 14ous¢l. W¢ also pav a$ emplo)'ei thTough (he naiional insuranc¢ coniribution5 w¢ rnake. In additional to the very 5ub5tontiul benefits OUT School brings 10 our pupils. the loca] COrnFnunity Jnd societv through the education ive offer. our bursary progranime cr¢at¢s a social assei without cosi to the Exchequer or the local authority. Development5 2nd fajor projecis included the complfflion of the refi￿bISh￿c￿t of LWS House. including new roof. neiv iiindows and aD addiiional fiT¢ ¢$cape siaiica8e. General mainlenance took place in 77 St Charles Square includin¥ new tlooring lo ihe Nursery. Fillanci*l Health The CEO regularlv reviews the fittartces and bud8ets as pan of the eff¢ctiv¢ st¢W4Td5hip of the School. The school has a continuing prograrnD]e of refurbishmeni. development and inv¢stsllent 10 tnainiafft e.x¢ellent teachin8 faLiliiies for our pupils. The fTee reser%'es are ar a balance of £947.497. whi¢h illustrates the exrent of the inve5tmeni in our Schools. The closing value of our tangible assrts. PToperty. plant and equipmeni. Nas £2.656.799, PettsioJ LÉ*bility For our l¢aching and sUp￿rt staff we offer a d¢fJn¢d contribution scheme whtch is operdied by Nesi, who will anv fuiure liabilitj. Re5ervt$ polity The trustees review th¢ TeseNe levels of the foundaiion annually. This review cncotrtpasges the nature ot. incomc and expenditure strrams. the need ts) match income with comrnitTn¢nts ttnd the natwe olreserves. The trust¢¢s hold a WTrlicy 10 keep 6 monttks reserves to cov¢r ¢h¥ity expendiiure for the financtal year. this ¢qua￿S io £912.627. The ￿18] level of free reserves held ￿￿thin the foundation are £947,497. Page 7 The Lloyd Williamson Schools Foundation Report of the Trustees for the Year Ended 31 March 2025 FINANCIAL REVIEW Our Sfr8t¢gie5 Policies Our TrusiLes are responsibl¢ for selling a sirai¢gic direLlioR for arhi¢ving th¢ Khool's vbj¢ctives. The focus of our 51rategy is on the devcloptncnt of our pupils. thcir coniinued high levels ofacademic and co-cufficular achi¢v¢m¢nt. In iaking forward OUT sIrate￿. we.. Revie￿ and benchmark iht School's academic syllabu8, teaching practices, and examination results. 'nsure the range of co-curricular activitlC5 4vailablc lo ow pupils 15 s1imulatln8 and Lhallenging. Invest in te¢hnolo&v and the infrastruciure of our School. Coniinue io revtew and d¢itlop our n)ethods for awarding bur$arie$ 10 ensure ttccess io pupilg ITOM all ba¢k8rounds in the loc￿ ar¢a. Access Poli¢ It is important io us thai access io the educaiton we offtr is not resuicied 10 those ￿'hO can afford our f¢¢s. We b¢li¢ve our pupils benetit trom learning within a diverse communiry. A great deal of l¢arning occurs through social interaction, nver5ation and 5h3Ted experience$ which helps our pupils develop an tjndersianding of the pcrspeciives of other PLY)pli Ihai will be viial in Iheir adult lives. Our bursary policy contributes to a iyidening of access io the education we offer and the facilities w¢ enjoy. Bur5gry policy 'rhe Tru51ees ¥'iew' our bursary awards as important in helping to e115ur¢ childrcn trom farnilies M"ho would vtherwise ntsi be abl¢ lo afford the lee$ tan aLLesg Ihe education we ofter. However. En Ihe curreni challcnging economic climaie. li has beLome harder 10 award ntw bursari¢s. In the 2024_25 ￿edr. n¢w bur5ari¢s were only awarded 10 a Ukrainian refvsee hild and one other existing child on roll iyhosc patents required siipporl for Ihtm io remain In ihe school. The bursary am'ards. range from 50/0 10 IOOQ/o remission ot. fees. W¢ a150 ha%.¢ a haTd5hip fund Ihat supplements burs3Ty awards to pay fi)r co-curricular activitliS. equipmeni and school Irips. Informdlion about fee asgistance through bursarits is providid io all appl}'ing to ihe School. Furthtr detai15 of our bU￿arY poliL)' and apply are aNailable on our 5sebsitc. Other politie5 on As51Stan¢e: Sibling di5CDUlits policy I"0 undLrlin¢ ihc value ive place on cofilinuity for families. w¢ oftcr SO/￿ di5rount for the second child and IO¥0 discouni for th¢ third child, I￿heTe parertis have more than one child at the School. FUTURE PLANS In ihe eutreni, difticult economic climaie, the school is seeking to maintain lis iiniqu¢ ¢thos and ini'est in th¢ future. Th¢ appointmelli of a D¢w h¢adteacher &nd school busine5g fflanxgei is predictLd 10 incr¢2sL admissions trom 2026 onwards to ensure a healthier fiJiur¢ for Ihe sclM)ol, with less reliance on the scknol's benefactor. The srhi)ol aitns to m￿ni￿1n a high standard of academic results wl)ile offering a broad and d¢¢p curriculum TO childr¢n wilh 8 wide range ol-abiliiies. The S¢nior Leadership T¢atn will continu¢ lo r¢view th¢ curriculutn to ensure il retnains appropriaie for pupils, dcv¢loptnent. Th¢ TTusie¢s view bursary awards as important in supporting the local commU￿ty. However. no further bursaries Lan be granted until pupil nutnbcrs and fee income rise. with the exceplion of a retia8¢e children trom the war in Ukrain¢. STRUCTURL GOVERNANCE AND MANAGEkMENT Governing docu￿ettt 'I'he ehariiv is conirolled by its governing document. a deed ot iru5t and wn5titut¢5 an unlnmT￿Tdt¢d ¢bwity. Page 8 The Lloyd Williamson Schools FouDda¢ion Report of the Trustees for the Year Ended 31 M4rch 2025 The Trust¢¢s provide strate￿r OV￿Sight and guidance io the Lloyd Williamson khoo15 Foundation Charity 2t*l usually tneet 8 times ayeaT. The work of iJnplemeNtation is carTied by the CEO and the Head of AdmirdBuTsar. The School Bursar is resp)nsible for co-ordinating the work of the TT14St¢¢s, pr¢paraiion of papers and manag¢m¢ni accounis and the review of maiie arising. AII tTUSt¢¢s giv¢ of Ih¢ir lime freely and no remutteration or expense5 Paid in ihe year. No Tnjslee or ￿rgon conneeted with a Trhjsttt received any benefit frorn ¢ith¢r Jneans tesied bursaries 2warded 10 our pupils. Reeruitm¢nt appointTnent of ntw trustees Jn the next 2 y¢ars. Ihe Trusiee5 will beci)rne Govemors. More Govermrs will a150 b¢ 50ughc with the imporLini attribute of a passion for ihe %4"ork of the Schools and an understsnding of education as a holistic and rounded experience Of r¢rsonal gro%%rth. Training will b¢ sought and proTrided 10 the Trusi¢es as they iran5iiion io Governors. Where r¥)ssible, the skills and ¢xperienc¢ of th¢ Board should comprise th¢ following: A Governor with a legal background A Govemor with a financiavaccounting backgroutld A Gover[￿r wilh ¢du¢al2oD experience A GoVerr￿￿ with senior managerial or business eKperi¢nc¢ A Governor wirh cxperi¢nc¢ of cqual opportunities or disability. needs At least one femalc Governor and at least one mal¢ GtsveTnDr - On¢ GOVer￿>r may have one or fflore of these skills. The recruiunent and appoiniment of Dew Irusiees are conducted in accordatK¢ with the ¢lwity's govemirt8 documeni. New trustees may be appoinied by the exisiin8 trustee board. Where applicable, trustees are elected or appointed Ihrough a formal process defined by the gov¢TnitLg docutneni. ensuring transparency and complTrance ￿"ith leg2] al￿ regulaiory requirements. The charity regularly reviews sts tru5t¢e Tecruitment procedures io ensure a div¢r5e and skilled board. The aprM)intment pro¢ess includes appropriaie checks io confimi eligibility and suitability in line wilh statu￿ry r¢qwr¢Tn¢nts and b¢$t practice goi'emance principl¢s. Organi￿110￿￿] Management Th¢ Trustee5 detertnine ihe general dir¢Ltion of the School. Th¢ day tD day runnin8 Ot. the School is delegated lo the CEOICo-prinLipal supponed bv senior siaff. Sh¢ undertakcs the key leadership role ov¢rs¢eing ¢ducational, pastoral artd admini8traiiv¢ funetitsns in corL8uliation with the senior staff. The CEOICo•pritkipal oversces the rccruiiment of all staff. whilst uDder delegated authority the bursar oversee5 the rccruilrncnt of admirtistrativt and no￿teaChing 5UPTK>rt Staff. The CEOICo-ptincipal and Head of AthniTIBur5ar aTe invited io att¢rKi TTusi¢es' ]neeiillgs. Key matlagement remuntratio The Tru5te¢s ron$ider that the CEOICo-principal and th¢ Head of AdminlBursar comprise the Key Mgmagemenl Personnel. The Trustees giv¢ of their litne fTeelv and the CEOIPrincipal, Lury M¢y¢T. rurrentlv ivorks as a voluntttr. Pay is s¢t by the CEO using thc following criieria.. nature of tht role and rrsponsibilities competitor salaries in the region the sector average salary for wmparable positions trends in pay Pag¢ 9 The Lloyd Willi#msott Schools Found*tion Report of the Truste for the Y¢xr Elldtd 31 Marth 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk m#nAgemtnt The 'l'rusl¢e5 are responsibl¢ for ihe oversccing of the risks faced by th¢ School. DciallL￿ considerations of risk are delegated to the Senior Manageineni of the Sclyjol. Risks are identified. assessed and controls esithlished Ihroughout the year. A tormal TeVl¢M' of th¢ Lharity b risk ttL4tLa8emeni processes ig undertaken on an atjnual b￿ls. Iosk is managed under rh¢ headings of financial 3ustain3bility, school $#fety. Student welfare. employmeni, sti￿01 trips alld events and community access. Principal risks and uncertainties thc $tr4tegies in tht5t One of the main risks to the school 15 th¢ falling birth rate and consequent oversupply in primary education. in particular. The school is implememing a siraiegy of combing clas5¢5 wh¢re practical and $tre8mlining staffing. The Chariiv illidersiands that li needs lo complv wilh pre￿allIng la￿.5 aDd regulations s¢t out by organi5alions surh as the Independeni Schools Insp¢ctorai¢ and thc t)epartment of Faucaiion and coniirtues io strive ro ensue ihose laws and regulatior￿ are followed in a strici and deiermined manner. P38t 10 TILt Lloyd Williamson Schools Foundatiou Report of the Trusttts for the Year Ended JI Marf h 2025 REFERENCE ANDADMINISTR4TIVE DETAILS TRUSTEES.. Nor¢en Halllw. Ichairl Zaur Man5urov luniil 19 Jun¢ 20251 ArKir¢w Gohl Carmen Jumaili Monica Ta>'lor Iwitil 23 Apiil 20251 CEO and CO-FRINCIPAL Luty Meyer CO-PRINCIPAL Aaron Williams HEAD OF ADMINIBURSAR AND CLERK TO THE TRUSTEES Deborah Thackeray UPPER SCHOOL SENIOR ADMINISTRATOR Clare Sman NURSERY MANAGER EmtrL4 Lima IT LEAD Shaun Watson REGISTERED OFFICE 77 Si charl￿ Square London W106EB PAYROLL ADMINISTRATORS %able Internati(TrniÉ I 13tli Flour One CrO￿dOn 12-16 Addiscombe Rd. London CRO OXT +4410120 7759 7514 INDEPENDENT AUDtTORS HLAS Audit Limilrd Suire l. The Riv¢rsid¢ Buildin Living$ton¢ Road. Hessle. HU13 ODZ BAIYKERS BatLlay$ Bank Bedford Row Leieesiei Leic¢siershire I.E.87 2BB 0345 7345345 Page 11 Repilrl uf Ihr'l'riiitees for the Ye¥r b.ndcd JI March 2025 .￿)LIcI7.￿Rs Ovrdi>n% SuliiiioTS iippLr Ed￿￿¢￿￿U¥h Rojd GuildfuFd (tul IBJ Phonc.. 014Y3 451900 FLY.. 014%.1451888 DX.. 3?1101 Guildford 20 IYSURANCE BROKERS Embaii)ol Hous¢ 104 High Si London Colncv St Alban AL2 IQL Phone.. 919?3 ¥94360 EITNI TS Sl.S'CE THF END OF THE YKAK Infont>alion relaiiA¥t lo cvcnls sincL' Ihc LAd of the ycar is given in th¢ not¢$ lo the fJnJDcial statemcnt& STATE￿IE￿r OFTRUSTEES. RESPOiYSIBILITILS I'hc Irusi¢cs ar¢ Tespon$ibl¥ for pT¢pring Ihc Report of Ihc TrusiLes and thc fu)3ncial s￿I¢n￿Dts UJ accordance with applicablL131v a[￿ Uruicd Kingdotn AeGVUtiiin¥ Si*ndards (United Kingdom Gcllcially A¢c¢pled Accounting Praciiccl. Thc law gpplicablc 10 cluritie5 in EDgland IValL%. th￿ Chariii¢5 Act 2011, Chariiy (Accounts and Rcptrrts) R¥gulatiiJiiS 2QO¥ Jnd Ilic provisions of Ihc trust dced rLqUi￿S ihc InL8lce5 ro pt¢par¢ financi21 stJtetncnis for each Iinancial Jcar which giic ts Iruc and fair vi¢w of the S￿t¢ of affaiFS of Ihc charity Jnd ol- dic ￿co￿ling TcsourcLs 4nd applicdiion of rcsoknr£cs. IllLludtng the in¢Linic and cxpcnditurc. of thc cbarity for that pcriod. In pr¢parirJg Iliosc rin%in¢ial stsiemcnts. thc m]stces arc IL*uired tts l¢ct suiiablt accouniing poltcics and Ehen apply thcm consis*ntly' obsen'c the mcthods wid principles in th¢ Chanry.SORP. mak¢ judgcnicnts and cstiTnaies Ihal gre r¢asonable #t￿ prndeni., sthic wh¢ihcr applicablL' aicountirt8 sthndards have bLL# followLd. subjc¢l lo any mal¢rial d¢partutts disclosed and cxplJincd in ihc financi31 staiements., prepaTe the financial styi¢m¢nl$ on the going con¢¢m b35i5 unlc&s il is It￿pprOPriate to presujne Iliai th¢ charity wll conlinuc Iii busin¢s5. The m%lee5 arc responsiblc for kceping proper accouniifjg rcwrd5 which di￿10$¢ r¢Jsonabl¢ accuYa¢y ai any the financial p0511iOn of Ui¢ charity and 10 ¢nablc th￿n lo en5urc that th¢ financial ¥utcTh¢nts' comply with th6 Charitie5 Act 2011, the Charity (Accowils and Reports) Rcgul4tions 2008 ar￿ thc provisions of rhc trusi dced. Th£y are J150 rcsponsiblc for safcguarding thc assets of the charity and heThc¢ for t￿Illg rcasonabl¢ slcps for thc preven120JJ and d¢l4'¢1ion of fraud and other itre8ular¢lic5. Approved by Ord￿ of thc board of on........ - and sEgned On its bcbglfby.. Mr5 N Hallbcry- Trust¢e Pagc 12 Report of the Independtnt Audktors to the Tru$tees of The Lloyd Wiuiauwn Schoo15 FouJLdlltion OpiDion W¢ have audited the financial statements of The Lloyd Willi￿nson Schools Foundation lthe'charity} for tht year ¢nd¢d 31 March 2025 which comprise the Siaiemeni of Finaneial Aciiviiies. the Balance Shea, the C￿h Flow s￿tcMcnl and not¢s to the financial stalcmenis. including a sumrna4 of signiticant accounting polirie& The financial rcporiing framework that ha5 been applied in their pr¢paration is applicable law and United Kingdorn Accounting Siand8Tds IUnit¢d Kingdom Gene￿[Y Aceepied Accounting Praciicel. In our opinion the fina￿101 $iatements'. give a true and fair view. of ihe State of th¢ charity's affairs as at 31 March 2025 and of its incoming r¢souT¢¢S and application of T¢sourLes, foT the year thtn ended- have beert properly prepared in accordance with Unii¢d Kingdotn Generall>. Accepted Accounting Practice- and have been prepared in acwTd3nc¢ with the requTrements of the Chariiies Act 2011. B#sis lor opinion We condu¢lcd our audit in ac£o¥dance with Intemational Star¥Jard5 on Auditing IUKI (ISA% IifKI} and applicable law. Our responsibilities under those Standards ar¢ fi￿ther described in the Audiiors, responsibilities for th¢ audit of the financial stal¢tnenlS sectiott of our report. W'e are independent of th¢ charity in accordance with thc ethical requirements that are relevant 10 our audii of th¢ financial stat¢Tnent5 in the UK, including Ihe FRCS Eihical Standard, and w¢ have fultElled our oiher ahical re5wnsibililies in accordance with these requirem¢nt5. We b¢li¢&e Ihdl the audit eiidence we have obtained is SU￿J¢le￿t and appropriaie to provide a basi5 for our opinion. Material uncert#inty rtiattd to going coneern In auditing the financial statetnenis. w¢ have conrluded thai the trusites, ￿ of ihe Boing COnC¢Tn basis of arrounting in th¢ preparalion of the fi￿￿ntial staiemenis is appropriaie. How¢v¢r. we drath aitention io Noie l in the financial statements. which indi¢aies the charity is dependent on the support of a stgnifieani donor. in order 10 continu¢ as a going concenL Our opinion is noi modifled in resp￿1 of thss tnatt¢r. Our resrM)nsibiliiies and the r¢srM)nsibilities of thc trth%t¢¢s with res￿￿ ro going concem are de5cribcd in the relevani seCtior￿ of ihis ￿￿K)rt. Other informalion Th¢ truslec5 arc ittsportsiblt for ihe other informaiion. The other infomialion comprises ihc inforniaiion included in the Ann￿￿1 Report. other ihan the financial $121emenis and our Rcport of ihe Ind¢p¢ndeni Auditors thereon. Our Opinio￿ on the til￿(18[ statement$ does noi cover the oiher infoTtnation and. extept 10 the exteni othetwise ¢xpli¢itly stated in our TekN)rt, we do not ¢xpr¢5s an>. fortn of a55urantt conclusion ihereon. In Cor￿¢Ction with our audit of the financial staiements. our r¢5pon5ib51ity i5 to read ihe other Inforniation and, in doing so. consider whether ihe oth¢r iDtorFnation is maierially inconslstenr with the financial staletnertts or our knO￿.ledge obtsined in th¢ 3udit OT Otheiwise appears ￿ b¢ mat¢rially mi55t3Led. If %%'e ideniifv such makriaI inconsiStenci¢s or apparent maierial misslatetn¢nts. we are required lo determin¢ whether Ihis gives ris¢ lo a Tnaterial mi$staitment in the financial stat¢tnent5 thcrnselves. If. based on the work we hav¢ puforrned. Ne conclude thai there is a rnaterial Mis￿￿ement of ihis other informaiion. w¢ are tequiT&I io rerrf)rt Ihai facL W¢ hav¢ nothing to re￿rt in I]￿S regard. Compxrxtive Infom*tiokn- Prior Period Error The financial siatements for the year ended 31 March 2025 includ¢ ¢omparaiive infomiaiion for the year ended 31 March 2024. DuTing the current year, il'e ideniifi¢d that a lease deposit was incorrealy recorded in ihc prior year at £135.000 instead of the COTr¢cl atnowit of £265.920. This prior period error was material to the prior ye2r financi21 StateTD¢nts. In accordance with FRS 102 and ISA 710. the prior y¢ar comparalivc figuTCS have bccn restated to corr¢cl this error. Our opinion is not modified in Te5pect of this matter. The restaitmeni is fully disclosed in Note 12 10 the fioan¢ia] statem￿ts. Page 13 Report of the Independent Auditors to the Trustees of The Lloyd Williamson Schoo15 FouDdatioD M8tteTS OD which wt llre re411iTtd to rtport by exception We have noihing to rep)rt in re5r￿cl of the following matter5 wheT¢ the Charitie5 (Accounts and Reports) Regulations 2Q08 requires u5 to report lo you if. in our opinion.. the information gj'ven in the Re5M)rt of the Trusttes IS it￿OnSistenI in an). tllaterial resp¢rt with the flnancial 5tat¢m¢nis'. OT 5UtTiLient accouniing records have not been kept., or th¢ tinancial slai¢ments are not in agr¢em¢ni with the accounting r¢rords a[￿ retum$,' or 'c haN'¢ not r¢reived all Ihe information and explanations we require tor our audit. Re$ponsibilities of irustees As explained more fiill)" in the Ststement of TT￿tte5, Reswnsibiliiie8, the trustees are responsible for the preparatioll of the finaniial sthreTnents ￿'hICh gil'e a true and fair i'iew. and for such inteTrtal Lontrol as the trusiees determine is ntressary to enable the prepzratitrn of firtaneial staiemenis ihai art free from malcrial misstaiemeni. whether due lo fraud or tmir. In preparing the financial staiemenis, the trustees are responsible for #s5¢ssing the charity's ability io conlirtue as a going concern. disclosing. as applicable. matters related 10 80in8 COnCCTll and using thc going concem basis of accouniing tsnles$ the irustees either intend io liquidate the charity or to cease operations. or have no r¢ali5tic alt¢rnativ¢ but to do Page 14 Report of tht IndependeDt Auditor5 to the Trustees of The Lloyd Willi¥msoD Schou15 Fouttdxtion Our re5PODsibtlities for the audit of the fiknantial stAtell￿nIS We have bccn appointtd as audiiors under Secrion 144 of the Charitie5 A¢t 2011 and reJx)rt in accordance ￿1th the Act and relcvani regulatiorL4 mad¢ or having effect thereul￿er. Our objtatves are io obtain reasonablc assurJnre aboui wherher rhe financial staternents a5 a 4.hole are free from maierial mi551at¢m¢nL whdher due to fraud or em)r. and io issue a R¢tM)rt of the Independent Audiiors thai includes our opinion. Reasonable assurance is a high l¢vel of assur2rtLe. but ig noi a guarani¢¢ that an audit conducted irt accordance with ISAS IUKI will alTh7ys delect 2 material mtsgtaiemeni when it ex15ts. Mi55tatCTntnts can arise from fraud or error and are Considered material if, individually OT IH th¢ aggregate. thei could re&80nably be ¢xp¢rted to influence the economic decisions of users taken on the basis of these fjnancial staicm¢nts. The exteni lo which OUT Pr￿￿ur¢S ar¢ Gapable of deteciittg irregularitie5. including fraud is detailed below.. Our ob)e￿IveS are to obtain reasonable assurance aLx)ui wheiher the financial 51al¢rnenls a5 a whole are free from material tnisstalefflenl, whether dur io fraud or error, and to issu¢ an audiiDr's report ihai includcs our opinion. Reasonable ￿suranCe is a high l¢v¢l of a55uranc¢, bul is not a gttaranlee ihai all audit condud¢d in accordance with ISAS (Uk) will alwJys deteci a material misSLqi¢ment when li ¢xists. Missiaiements Lan arise Irom fraud or error and are consideTed material if, individually or in th¢ aggr¢gal¢, they could rcawnablv be expected to intlu¢n¢e Ihe e¢onomie decision5 of useT5 taken on the basis of these financial statements. Exteni to which our procedures are capable ofdrteciin8 irregularitie5, inGluding fraud.. Irregularitie8. includTrng fraud, are irtsiances of non-compliance with laws and reguiaiions. We design procedures in lin¢ ith our responsibilities. outlined above. to d¢l¢ct materi21 missiatemtnis in re5￿cl of irregularities, including fraud. Our approach ￿ identitying and assessitJ8 the risks ol. maierial missiaictnent in re5￿t of irregularities. including traud was as follows.. The engagcmenl partner ensured Ihal the engag¢m¢nl t¢am collcctively had Ihc appropriat¢ competenr¢, Gw2bilities and skills to identify or r¢cogni5e non-cotnplianee with applicable laivs and regulations". We identified the laws and regulaiions applicable to the companj Ihrough discussions with directors and tsiher managem¢ni. and from our Commerci￿ knowledge and experience of ihe 5¢cior in Thbich th¢ cO￿pan), operdl¢5', W¢ focused on sp￿CIfiC lam's and regulaiions which we considered tna)" have a dir¢￿ impact material ¢ff¢ct on the financial 51aietnenis. or the Opwalions of ihe company iihich included the Cotnpanies Aci ?006. t&xation legisl8tioD. dara protecliort, artli.briberv. emploJrn¢nt. environtnerslal and health and Sdfeiy legislation,. We assessed the e¥i¢ni ot cornpliancc 1s.iih the laws and regulatton5 Td¢nlifIed above through making enquiri¢s of mHmag¢m¢DI and in*peciing legal corrLsry)ndence' gnd Ideniitied 13ws and r¢gulations were communicated within the audit *atn the team remained alert to instances of nonrting Standard appliLable in the UK and Republic of Irelalld, ihe Charit1¢5 Ad 2011. The f&JJaAcial statements hav¢ been prepared und¢r th¢ hi51ori¢al ctsst onvenlion. The Charity is aware of their tinancial position ai lh¢ y¢ar end. The accounts have been prepared on a going concern b￿15 as a result of the budgets that the Charity has prepar¢d for ihe next thr¢¢ )'eaT5. li f¢lt that thi$ still an appropriate basis of pieparaiion. The presenlational currency orth¢ Charity IS S￿lIng £. Income received tor service5 provid¢d is accounted for on an 8cctt￿L$ basis. Cash donatjollstr gifts and l¢gaGi are included in full in thc income and txpendiiure account as ihey are received. Any significant non-ca5h donations are tncluded in ihe incom¢ and ¢xp¢nditur¢ accourti at ihe tru$tte8' tstimate of iheir market Yalue wh¢D eived. The vaIue of V￿￿￿n(&￿ help is not included in the accounts. GTrnts and other fundirtE of a revenue nature are deferred and r¢l¢wd 10 the income and exptndiiure account over the period to which they relate. Bank interest is included in the income amd ¢xpeDdilure account on art accruals b3Si All incom¢ 1$ rewrded net of VAT12024. inclusive of VATI. Expenditure Liahililies are recognised as exptnditur¢ ￿ soon a5 th¢re is a leg￿ or eonstruetiv¢ obligaiion commiuing th¢ Ch￿.1[Y to that expenditure. it Is PTobable thai a Iransfer of economic benefits ￿￿11 be requiTcd in seiilemeni and the Jmoutjl of the obligation Can be measured reliably. Exp¢nditure is accounted lor on an aC¢n￿lS basis and h been classified under headings that wegate all co81 related io the category. Where costs cannoi k directly attributed to particular h¢adin8s they hav¢ been allocated to a¢tiTritie$ on a basis consistent with the usc of resources. All ex￿[KilluTe 15 r¢¢orded rtei of VAT {2024. Inclusive of VAT}. T#ngiblt fixed assets Tangible fixed assets are tniiiallv ineasur¢d a¢ their I￿s1oriCal cosi, whtch includes the purchas¢ price and any directl> attributable cosis ipcurred to bring the assei to its intended us¢. Subsequent Costs are capitalised Only when they enhance the future economic benefits of ihe &%gei. All costs neccssary to Prep￿ the &%set for its intended opei'ational us¢ are included irt the gross carrying amoum. Page21 continued... The Lloyd Willtantson Sthools Foundatio Notes to the Financial Statements- continued for tht I'exr Ended 31 Mlrth 2025 ACCOUiYTING POLICIES- eolltinued T&n#ible fJx*d #ssets The carrying amount d0¢5 not include ary subsequent revaluations unless ¢xplTcitly stated. RiglLt of use #sstt Th¢ Chariiv hav¢ Lhos¢n 10 earlv adopt th¢ new FRS 102 S¢clion 20 amendments and have therefore ass¢ss¢d that Ihc lease of land is a right of use assci. As a rcsuli Ihi lease h85 bttn rccognised ai lh¢ Preseni value of unpaid lease pa)'menis over ihe lease terrll. discounted using a ri5k-free late. The l¢as¢ liability ha5 ih¢n been r¢wgnised bdmeen curTeni and long term liabilities. The Itase asset has b¢en d¢precia*d in lin¢ with the l¢ng¢h of the lease temi and will be subjeci to an annual impairment retrieii by thc trusites. T¥xalio The charity is exempt from corporation on its charirable activities. Fund accounting Unr¢51ricitd fvnds can b¢ used in accordance with th¢ charitable objertiv¢s at the disrrttion of the trust¢e5. Restricted funds only bt used for panicular r¢strict¢d purpos¢S Wlthin the objects of th¢ charity. R¢5triclior15 arise wher5 sp¢cifi¢d by the donor QT when fund$ are r2ised for particular Te$tricted purpose$. Furth¢r explanation of the nature #t￿ purtK>$e of each fiLnd is included in the noits 10 ihe tinancial siatemenis. Ptnsioll tosts and other p05t-retirement btntfits The Lharily operateg a dLlined coniribuiion pension schtine. Coniribuiions payable 10 the charÉtys pension sLh¢me art charged 10 Ihe Sialem¢ni ot'Financial Acliviii¢% sn th¢ period io which Ih¢)- I'¢lat¢. Finaniial insiruineiits ar¢ vlassifi¢J Jnd aLiuunled for. accurding lo the sub51anc¥ of the contraLlual arrangeinenl, as IindnLial d%se15. linancial li&b11iiiLs or equiiy instrumenis. An equiry in%inJmeni 15 any coniract thai ¢￿idenceS a residual intcrest inl he asseis of the wrnpan> aft¢r d¢ducting all of ils liabilities. Attoutttittg Estimates 'I'h¢ pr¢paration of th¢ financiul slatetnenl.g Te4uires management 10 make judgements. estimates and assumption8 thai affect Ilie amounts reportcd. This includes Ihe clioice ot depreciaiion T51¢1hod applied ￿ lixed a55ets and provisions for legacies. These estirnales and judgernenls arL continually reVIc￿.Ld and are based ott CXPLfienLe and Dthcr ta¢iors. including expeciaijons of tuiur¢ events Ihdl 8Je b¢li¢ved ro be reasonable under the CircU￿tanC¢s. Dtbtors, Creditors Provisions Debrors are measured ai their T¢CQV¢T3ble 8mounlS at th¢ b3lan¢e sheet dale. Trad¢ and other debtors are r¢¢ogDis¢d initially al trjnsaction price less allribulable transaction cost Liabilities are included tor the provision olihe ourfloiv of funds in relation to ih¢ follow'ing cla55ification5: Liability- Where there is a defjnite commiimeni to outflow of economic benefit with a knowi valu¢ Provision- Arising frotn a pr¢senl obligation to pay a ihird patty arising from a past eveni. Where the amount is not known a le￿nable esiimaie is made. Cornmilin¢ni- Arising Irorn a decision to cotnmit to a liability, but where no Work has started and rto paymcni ha5 b¢en Tnade. but whtTe a c•rttract may have been entered into. Trad¢ and oiheT treditors are recognised art irtiiial Iransaeiion price plus attribuiable transaction costs. Page 22 coniinued... The Lloyd Williams0¥ Schoob FoundY4tion NotES to the Fin#llci#l St*ttmethts- continued for tht Year Ended 31 M*r¢h 2025 ACCOUNTING POLICIES- continued FinAncial instruments Subsequent lo inirial recognition they are measured at amortised c05t U51ng the effective interest rneihod, less an impairment Ios8 tn the we ofirade debiors. DONATIONS AND LEGACIES 2025 2024 as restaied t￿natiOnS 1.265.408 966.080 INVESTMENT INCOME 2025 2024 as resiaied Other sDt¢T¢5t rettii'ed 446 INCOME FROM CHARITABLE ACTIVITIES 2025 a5 reslaied Activity Gross Fees from Parents and Guardians Reni InLomc Tuitiun Ancillary 885,000 1,020,539 9.063 885.000 1.029.602 c1L4R￿ABLE ACTIVITIES COSTS Support cosis (see noie 71 Dire Costs Totèls Tuition Costs -295,537 304,601 1,600,138 Page 23 coniinued... The Lloyd Williamson Srhools Foundxtion Notes to the Finltttial StatemtntS- ¢Olltinutd lor the Year Ended 31 March 2025 SLTrPORT COSTS Gov¢rEW)f¢ costs Management Finance Ttsials Tuition Costs 75.865 163,942 fv1,794 304.601 AUDITORS, REMUNERATION 2025 2024 as Testatcd Fees pavabl¢ to ihe charity's auditors for th¢ audil of th¢ charitv's fjnancial statefflents 10,000 12,OIKJ TRUSTEES, REI¥IUNERATION AND BENEFITS TheT¢ ￿tTe no truste¢$' remuneration or other benefits for the year ended 31 March 2025 nor for (he vear ended 31 March 2024. During the period under rcview. no irust¢¢s w'ere remuneratcd on bchalt ot th¢ charity tor work committed in ihe >'e3T. l.a51 y¢aF. one Tru51ee Mr Z Mansur()I was employed b> the school for ? months to Lover patemiiy leave. This amDunil￿ lo £2.631 bL'ing pdid 10 Ihe Irusiee. no pension Losis ￿'¢re Pdid 10 Mr /. Mansurov. TrtE$iees' expenses Thcrc V¥crc no Iruslccs, cxptnses paid lor the year ended 31 March 2025 nor tor Ihe year ended 31 March 2024. io. STAFF COSTS 2025 2024 as restated Wagt5 and salaries Social Security. costs Other pension costs 725,305 50,725 12,993 677.892 46,770 12.455 789,023 737,117 The averag¢ monihl>' nutnb¢r of etnployees during th¢ year was as follows.. 2025 2024 as res￿led Key Personnel Admin General 25 30 34 No emplovees Tec¢iv¢d emolurnenis in exce55 of £60.000. Boih Ihe CEO Co-Principal are volunieers and don't tak¢ a salary from th¢ school. Total key managemerti personnel payrnents for the year were £107.36312024- £70.6341. Page 24 coDlinu¢d... Tht Lloyd Williimsoll Schools Foundation Notes to the Financial Stitemettt5- Colltinoed for the Yt*r Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricied ftfftd as restaied INCOME AND ENDOWMENTS FROM Donaitons and l¢gaci¢s 966,080 Ch*ritAblt a¢tivitie$ TuitTon Ancillary 1.020,539 9.063 Totsl 1,99i.682 EXPENDITURE ON Chiritable activitit$ Tuition Costs 1,81>0.946 OthcT 50,226 Totsl 1,851.172 NET INCOME 144.510 RECONCILIATION OF FUNDS TO¢￿ fi￿d$ broughi fonvard 477,386 TOTAL FUNDS CARRtED FORWARD 621.896 Iz. PRIOR YEAR ADJUSTMEIYT During the ye?r. rnanagetntrtl identified an ernr in the acwunling for a lease dety)sit relating lo one of th¢ inp3nv's leased properties. Sn iht fi[￿n¢la1 sl3te¥nenl$ for the Jear ended 31 March 2024. the lease depN)sit Was recorded ￿ £135.(X)O. The ¢orre£t amount should have been £26i,920. This resulted in an und¢r5t&iemeni of othcr debiors by £130.920 and rent expense ivas overstated by the sam¢ mounl. The eTrot has been correcied by T¢slating ihe comparative Inform￿lon lor the prior period in accordance wilh FRS 102. During the vear, and p051 31 March 2024 period, Ihe agreed r¢ntal lease agreement had a revision and subs¢quenil)', the lease liabiliiy calculation used in the 2024 fjnancial statements needed to be am¢nd¢d to rdl¢ the new, Corre￿ r￿tal figur¢s. This resulted in an underslalemenl of tangible assets by £157,960. an UDderststetnent in nott-currcni liabiliiies of £202.948. an UDderstaleinenl in rtni expense ot. £32.694 Jnd finally. art undersraicment ot'£12.295. A total. n¢t efteci 10 reg￿V¢S Ot. negative L44.988. The error has been CQTrect¢d by #n adJ￿￿￿en1 the curreni period .du¢ ro the event happ¢Ding px)si completioll of the prior p¢riod. in ac£oidan¢e with FRS 102. Page 25 continu¢¢L.. The Lloyd W'illiamsoj Schools Foundstion Notts io the FiD*n¢ial Statement$- contipued for the Year Endtd 31 March 2025 13. TANGIBLE FIXED ASSETS Improv¢m¢nts FixtUT¢S Long lea8ehold Cotnpuier equiptnent property fitting5 Totals COST Al l April 2024 Addiiions Disposals 1,980.744 459.218 377.617 68.346 38,403 10,1195 32.248 11.3491 2.518.403 448,268 Al 31 March 2025 1.980.744 836.835 106.749 40.994 2.965.322 DEPRECIATION Ai l April 2024 Charge for year Iliminat¢d on disposal 30,615 55,789 48,337 26.686 5,468 10.589 84,420 225.114 132.050 Al 31 Mw'ch 2025 132,050 86,404 75.023 15,046 308.523 NET BOOK VALUE Al 31 Mtsich 2025 1.848,694 750,431 31,726 2),948 2,6i6.799 At 31 m￿(b 2024 1.980,744 428,603 20,009 4.627 2,433.983 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 as restated Trade debiors Doubitul dibts Other J¢btorg VAT 165.599 165.8021 336.8)4 24.412 87.239 133.264 265.Y20 Prepayments and accrued income 4.239 548,302 405,4?3 Page 26 cothinued... Tht Lloyd Williamsou Schools Found*tiOD Notes tts the Finalltial Stateme￿ts- continued for the Year Eudtd 31 March 2025 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 as restated Lease obligations Is¢e note 171 Trade cr¢ditOT5 Social security and other t&xes Oih¢r cr¢dilor5 A¢¢rua15 and deferred income 86.366 75.387 62,290 10.651 164,404 73.779 34.729 54.417 9.599 95.702 399.098 268,226 Ineludtd wiihizj crediiors abov¢ is d¢f¢rred ittcome totailin8 £72.035 12024 - £70.3141. Th¢ tnov¢tnent in the yeaT 15 a5 follow5.. Chariiablt aciiviiies Total At l April 2024 R¢lea5¢d frotn previous years De(C￿cd in the current year 70,3 14 170.3141 72.035 70.314 170,3141 72.035 At 31 March 2025 72.035 72.035 Incoming r¢sourc¢5 have only been deferred in respect of monie5 rec¢ived in advance of Iht services being deliieied. 16. CREDITORS.. AMoUf￿S FALLING DUE AFYER MORE THAN ONE Y&IR 2025 2024 as ￿stated L¢aK obligatsons l$ee ttote 171 1,944,987 2,037.731 17. LEASING AGREEMEPffS Minimutll l¢ase paymenis fall du¢ as follows.. Finance l¢as¢5 2025 2024 as restal¢d Net obligations repayable.. Wiihin one year Between one fiv¢ years In more than five ye8n 86,366 543.201 1,401,786 73,779 463.991 .573,740 2,031,353 2,111.510 Page 27 continued... The Lloyd Willi2m$ott Schools Fouttdatio Noles to the Financial Stxtement$- coThtinu for tht Ye#r Ended 31 Mar¢h 2025 17. LEASING AGREEMENTS- contiDued Non-cancellable operaiirtg leases 2025 2024 as resiated Within one year Between one and five y¢aTS In more ihan fiv¢ y¢aT5 243,760 1.218.81)0 1,927.374 243.760 1.218.800 3,389.934 3,633,694 MOVEMEwf IN FUNDS Prior year adjustTneni Net moyement in funds At 31.3.25 Ai 1.4.24 Unrestricted fuvds Unrestricted 666.884 144.9881 325,601 947.497 TOTAL FUNDS 666,884 144,9881 325.601 947,497 Nct tllOV¢Tn¢nt in fijnds, included in the aLK)ve are as follows.. Incoming resouFC¢S Reguurcts ¢xp¢ndcd Mo%'¢ment in tunds UDrtstritltd futtds Uniestricted 2.1 iO.854 11.825.253) 3?5.601 TOTAL FUNDS 2.150.854 11,825,253) 325,601 Comp%rative¥ for movtmenl in funds movefflent in funds At 31.3.24 Al 1.4.23 Unrestricted funds Unresirtcted 477.386 144.ilo 621.896 TOTAL FUNDS 477,386 144,510 621.896 P8Ee 28 coniinue&.. The Lloyd Willi#ttLSOtt Sthoois Follndation iyotes to the Fimancial Ststement5- Ctslltillued for tht Ye#r Endtd JI 2025 18. MOVEMENT IN FUNDS- eolltinved Comparative tnovcmcnt in fithds, included in the a￿ve as follow$- Sncorning rcsources Resources ¢xpeDd¢d Movement in filt￿8 UDre51ricted fllllds Utjtestricted 1.995,682 144,510 TOTAL FUNDS 1.995.682 144,510 A current year 12 months and prior y¢ar 12 months co¥nbin¢d wsilion is as follows.. PrioT Nei ovement in funds Al 1.4.23 adjustsncnt 31.3.25 Unrestricted funds Unrestrieied 477,386 144.9881 470.111 902.509 TOTAL FUNDS 477,386 144.9881 470.11 902.509 A current ye4T 12 monthg 8t￿ prior year 12 rnonth5 ￿mbIned net movement in fijnds, included in th¢ a￿ve are as follows.. Incotning Ttsources Resources ¢xp¢nded Movement ID fimds INnre%tri¢ted funds Unresiricied 4.146.536 13,676,425) TOTAL FUIYDS 4.146.536 13.676,4251 19. EMPLOYEE BENEFrr OBLIGATIONS For our teaching and suptx>rt sia(Y ￿"t otler a defined coniribution schcme which is operated by N¢sr. ￿h0 Thill ]n¢¢t any future liability. Contribution5 of £30,24212024 - £28.9501 were tnad¢ durin¥ the year and expenses 10 the protit and lok4 account. Page 29 coniinutd... The Lloyd WilliAntson SthooL% Foundation Notes to the FiDan¢i#l StitemÈttts- tokntlllued for tbt Ye*r Ended JI March 2025 20. Cop￿]￿GE1¥T L￿BILITIEs During the year, managemtni revicwed the compan>'s lease arrangements and identified thai a contingent liability for pot¢ntial dilapidation c0515 leased premises exisied ai 3 1 March 2024 biii was noi disclosed in the prior y¢ar's fitkincial 51atemcnis. Whil¢ Ihe matter did noi uliitnaiely resllli in any expenditure. Ihe cotnpally acknowledges ihat th¢ disclosure should have been made under FRS 102 S¢¢lion 21 in the prior period. Mana8etnent has concluded thai restsling prior year comparaiiv¢s 15 not n¢cessary, a5 the trmission hgL8 no coniinuing efl¢ct on th¢ tinancial siatements and no PTo¥ision is required. T￿re are ronlin8Crtt liabilities Outstsnding as at 31 March 2025. 21. RELATED PARTY DISCLOSURES Included in repairs and renewa15 are aTnQUDt5 paid to the CEO'S husband for work undertaken ai the school. these transactlOll5 totalled £4? 81012024- £52.6241. A rotsl of £nil 12024- £41 is behind the tr¢ditOTS ai the fin2￿la[ )ear end. These Iransaclion5 ¥%¢r¢ all ai arrns, length. 22. POST BALANCE SHEET EVEpfrs In tneelingg hcld after the period in ￿.￿1¢￿ these accounts are rporting on. it has been dccidcd bv the Board io make the verv difficuli decision to clos¢ th¢ Low'er School frvm 31 December 2025. 11 Is boih th¥ School'5 and Auditor's opinion. Ihai there are no issues wilh the going concern of th¢ retnaining schoolg and iherefore. Lhan8L in the rtpoiiin8 und¢r gosng conc¢rn. Page 30