``` REGISTERED COMPANY NUMBER: (England and Wales) REGISTERED CHARITY NUMBER: 1194357 ``` ## **`REPORT OF THE TRUSTEES AND`** ## **`UNAUDITED FINANCIAL STATEMENTS`** ``` FOR THE PERIOD 6 MAY 2021 TO 31 MAY 2022 ``` ``` FOR THE LONDON NEIGHBOURHOOD SCHOLARSHIP TRUST ``` ``` KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH ``` ``` THE LONDON NEIGHBOURHOOD SCHOLARSHIP TRUST ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 6 MAY 2021 TO 31 MAY 2022`** |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**||`1`|| |**`Statement of Financial Activities`**||`2`|| |**`Balance Sheet`**||`3`|| |**`Notes to the Financial Statements`**|`4`|`to`|`5`| |**`Detailed Statement of Financial Activities`**||`6`|| ``` THE LONDON NEIGHBOURHOOD SCHOLARSHIP TRUST ``` ## **`REPORT OF THE TRUSTEES FOR THE PERIOD 6 MAY 2021 TO 31 MAY 2022`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with thefinancialstatementsofthecharityfortheperiod6May2021to31May2022.Thetrusteeshaveadopted the provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland (FRS 102) (effective 1 January 2019). ``` ## **`INCORPORATION`** ``` The charitable company was incorporated on 6 May 2021. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by guarantee, as defined by the Companies Act 2006. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`** ``` (England and Wales) ``` ## **`Registered Charity number`** ``` 1194357 ``` ## **`Registered office`** ``` KBSP Harben House, Harben Parade Finchley Road London NW3 6LH ``` ## **`Trustees`** ``` S Lewis J Bhalla L Billingham A Singh Kalra (appointed 13.1.2022) ``` ## **`Company Secretary`** ``` Approved by order of the board of trustees on 27 October 2022 and signed on its behalf by: ``` ``` S Lewis - Trustee ``` ``` Page 1 ``` ## **`THE LONDON NEIGHBOURHOOD SCHOLARSHIP TRUST`** ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 6 MAY 2021 TO 31 MAY 2022`** |||`Unrestricted`| |---|---|---| |||`fund`| ||`Notes`|`£`| |**`INCOME AND ENDOWMENTS FROM`**||| |`Donations and legacies`||**`39,755`**| |**`EXPENDITURE ON`**||| |`Other`||**`1,136`**| |**`NET INCOME`**||**`38,619`**| |**`TOTAL FUNDS CARRIED FORWARD`**||**`38,619`**| ``` The notes form part of these financial statements ``` ``` Page 2 ``` ## **`THE LONDON NEIGHBOURHOOD SCHOLARSHIP TRUST`** ## **`BALANCE SHEET 31 MAY 2022`** |||`Unrestricted`| |---|---|---| |||`fund`| ||`Notes`|`£`| |**`CURRENT ASSETS`**||| |`Cash at bank`||**`52,449`**| |**`CREDITORS`**||| |`Amounts falling due within one year`|`4`|**`(13,830)`**| |**`NET CURRENT ASSETS`**||**`38,619`**| |**`TOTAL ASSETS LESS CURRENT LIABILITIES`**||**`38,619`**| |**`NET ASSETS`**||**`38,619`**| |**`FUNDS`**|`5`|| |`Unrestricted funds`||**`38,619`**| |**`TOTAL FUNDS`**||**`38,619`**| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe period ended 31 May 2022. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheperiod ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` - `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and` - `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.` ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon27October2022and were signed on its behalf by: ``` ``` S Lewis - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 3 ``` ``` THE LONDON NEIGHBOURHOOD SCHOLARSHIP ``` ``` TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 6 MAY 2021 TO 31 MAY 2022`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies Act 2006. The financial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of resources. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ``` ## **`2. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||**`£`**| |---|---| |`Accountancy`|**`1,080`**| ## **`3. TRUSTEES' REMUNERATION AND BENEFITS`** ``` There were no trustees' remuneration or other benefits for the period ended 31 May 2022. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the period ended 31 May 2022. ``` ``` continued... ``` ``` Page 4 ``` ``` THE LONDON NEIGHBOURHOOD SCHOLARSHIP ``` ## **`TRUST`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 MAY 2021 TO 31 MAY 2022`** ## **`4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**||| |---|---|---| |`Accrued expenses`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`in funds`
`£`
**`38,619`**
**`38,619`**|**`£`**
**`13,830`**| |||`At`
`31.5.22`
`£`
**`38,619`**| |||**`38,619`**| ## **`5. MOVEMENT IN FUNDS`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`39,755`**
**`39,755`**|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(1,136)`**
**`38,619`**
**`(1,136)`**
**`38,619`**|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(1,136)`**
**`38,619`**
**`(1,136)`**
**`38,619`**| |---|---|---|---| ||||**`38,619`**| ## **`6. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the period ended 31 May 2022. ``` ``` Page 5 ``` ``` THE LONDON NEIGHBOURHOOD SCHOLARSHIP TRUST ``` ## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 6 MAY 2021 TO 31 MAY 2022`** ||`£`| |---|---| |**`INCOME AND ENDOWMENTS`**|| |**`Donations and legacies`**|| |`Donations`|**`39,755`**| |**`Total incoming resources`**|**`39,755`**| |**`EXPENDITURE`**|| |**`Support costs`**|| |**`Finance`**|| |`Bank charges`|**`56`**| |**`Governance costs`**|| |`Accountancy`|**`1,080`**| |`Total resources expended`|**`1,136`**| |**`Net income`**|**`38,619`**| ``` This page does not form part of the statutory financial statements ``` ``` Page 6 ```