KNOWLE HILL SCHOOL FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 8 AUGUST 2025
KNOWLE HILL SCHOOL FUND CHARrtY INFORMAMON FOR THE YEAR ENDED 8 AUGUST 2025 Reference and admlnlstratlve Informatlon: Tru$lees.' Mr. J.A. Ccoke Ichaimianl Dr. G. RapeT Mr. P. Murphy Mr. R. Sweeney Mr5. J. Richmond Mr. R. Smith Mr. M. Coker Nominatwe truste8 C¢>oplalive truslea Co-oplalNe trustee Nominatwe trustee Ccpoplalwe trustse Co-oplatwe trustee CodoptstNe trustee Clerk. Nicholas R. Wlson, Solicitor Principal officé.. 13 Wndy Art)our Kenilworth CV8 2AT Charity No.. 231807 Ind8pendenl Examiner.. Geofftey Cox BA FCA Daffems Audrt Limited Chartered Accountants One Ea8fvKd Harry Weston Road Binley Bu$lne8s Park Coventry CV3 2UB Bankerg.. Coventry 8uikling Society Economic House POBox9 High Streét Coventry CV15QN Investment advisers.. CCLA Investment Management Limited Senator House 85 Queen Victoda Street London EC4V 4ET Page 1
KNOWLE HILL SCHOOL FUND TRUSTEES REPORT FOR THE YEAR ENDED 8 AUGUST 2025 The trustees present their report and financial statements for the year ended 8 August 2025. The Iruslees have adopted the provisions of Statement of Recommended Practice ISORPI 'AGcounting and Reporting by Charities" IFRS 1021 in preparing the annual report and financial statements of the charity. STrUCTURE, GOVERNANCE AND MANAGEMENT The unincorporated charity wa5 estsblished by a Scheme daled 8 August 1985 and is registered wf(h the Charty Commission. No. 231807. Rocrultment, appoOnbnenL Snductlon and tralnlng of Tru¥tOe8 amendment to the Charity Scheme was made on 16 January 2003 to 8r the number of Trustees lo nol less than six and not more than nine, being hvo nominative Tfustees aThJ not less than four, nor moT8 than seven c optative Trustees. The nominative Trustees are appointed ty WarwkShire County Council as Iccal eduCatn authority and the ¢ optalive Trustees afe persons who through resKIen. occupab'on or employmen( or otherwise have Bpeaal knowledge of the County ofWarWickshi. Ct>optative Trustees seNe for a term of fve years from date of apFointment The Trustees mel on three occasions lo tnsIder applicalkjns and award grants. All Trustees glve of their tiff freely and no trustee remuneration was paid in Ihe year. Details of Trustee expense8 and related paty transactions are dk%dosed in note 2 to the aOnts. Rl•k manag?m•nt The Trustees hava assessed major risks to whKh th8 charity is exposed, and are sab'sfied that systems 8re in place lo rnitigale exposure to these. The Trustees consider variability of investment returns on the endowm6nl to ¢onstilule the charity's major nancial risk. The trustees have invested the endowed funds in "charit Official Investment fund to mitigate this risk. Koy management personn•l rnmunorallon The charity tainS the services of the clerk, Mr N R Wlson, and review5 his remuneration annually and any changes are minuled. OBJECTIVES AND ACTIVITIES The charity is established to assist with and promote the education of young people under the age of 25 years, who are, or who have 8 pant resMYent in the old County of Warwick, as constituted in 1905. This included Solihull and part of the eastern side of Bimingham as well as the whole of Coventy. In particular the chanty may apply its income.. - (al In providing for any county or voluntsry school in the area of the County of Warwid( as o)n51rtuted on the 14 Apnl 1905 Ihereinafter cald the aa of benefit) such special beneffts of any kind not ncfmally provided ty the local education authority as may from lime to b'ffle be agreed the School Govemors and the Trustses after consullatton with the Ial edLKation authorty. Page 2
KNOWLE HILL SCHOOL FUND TRUSTEES REPORT FOR THE YEAR ENDED 8 AUGUST 2025 OBJECTIVES AND ACTIVITIES CONT'D Ibl In maknng grants to or providing special benefits for any Charitab indeFendent schc)l in the area of benefiL Icl In advancing the education, including swal and physical training, of persons under the age of 25 years who are or who have a parent or parents, resident in the area of benefit and who are in need of ftnanckql assistance in one c mre of the following ways.. In awarding to such Ferytsons exhibitions tenable at any secvndary school, college of educalvjn, unNersty, or other insb'tution of further {including professsonal and tschnicall educalion approved by the Trustees., li1} In providing financial assistsnce, ouffils. clothing, tooL8, instruments or books lo enable such Persons on leaving school, university or any other educational establishment, lo prepare for. or lo enter a profession, trade or calling., liill In awarding buwi85 or maintenance allowances to enalje such persons to travel, whether in this country or abroad. to pursue their education,. lfv) In providing financlal assistsnce to enable such persons to study music or other arts; Iv) In otherwise promoting the education of Such persons. The Tnjstees have fvll power lo make fules for the award of exhibitions, bursaries or maintenance allowances or other benefi'ts, including rules as to the value and period of tenure of the awards, and the qualrficalions and method of ascertainment and 8elecllon of persons lo benefit. The Trustaes. where approprHte, consult the local educatKJn authority as to their general action under this clau88 and as to the educgtsonal qualifications of candidates for b&n8fft. Applicab'on5 ft)r grants are ellted by fomwl means. including lirniled targeted advertising in th& local press and registration with appropnate grant search organatiOns. The Trustees confirm that they have referd lo the guhlance contained in the Charity Commissk)nerfs general guidance on public benefit when reviewing the charity's aims and objectives and in planning futu aclivib'es and setting the grant making policy for the year. ACHIEVEMENTS AND PERFORMANCE The Trustees endeavour to keep expenses to a minimum. Total Tesourees expended in the year to 8 August 2025 were £17.77412024'. £18,904) of which awards and grants amounted lo £8,33812024'. £9,977). 2025 2024 No. Grants to individuals Grants to Schools Post Graduate Grant 900 788 6,650 6,020 2.457 1.500 28 The large numter of small sums whith are awarded to indivtdual applicants inevitabw creates a high degree of Papeork and adminislralion relative lo the amounts, but the Trustees feel very strongly that in this Way they are able to gNe assistan to those in the rrKJst need. The attached finarKial Statements show the current state of the finances whÉh the Trustees consider to be sound. The charity is relkgnt on income from its investn*nt. The charity's investment of 54.164 incane units in the Charities Official Investment Fund is invested to achieve both capital growth and generate inGorne. During the year the investment realised income of £30,457 (2024.. £29,736) and a capital loss of £17,70612024. £53,136 gain}. Page 3
KNOWLE HILL SCHOOL FUND TRUSTEES REPORT FOR THE YEAR ENDED 8 AUGUST 2025 FINANCIAL REVIEW The financial wlicy is lo aim to expend the most part of the annual income from investments. the greater part of whh is invested through the Charity CommissiCerS for capital growth as well as inGome retum. ReseThe8 policy It is the pollcy of the Charty to maintsin a minimum reserve of one yearfs expendf(ure. unrestrted 'free' reserves were £107,057 (2024.. £91.610) at the year-end whith is sufficient to meet one years expected expenditure. FLrfuRE PLANS The Trustees intsrKI to conbnue provKling grants in a similar way to the recent past TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees are responSie for preparirvj the Trustees Annual Report and the financial statements in accordance wrf(h applicable law and Uniled Kingdom Accounting Standards Iunlted Kingdom Generally Attepted Accounting Practice). The law applicable to charf(ies in England and Wales requlres the Trustees to prepare financial statements for each fi'nancial year which give a true and fair view of the Charity's financial acb'vrties during the year and of its position al the end of the yaar. In preparlng financial slat8men18, ging a true and fair view, the trustees shouPJ follow best practy'ce and'.- select sukable acUntIng pol186 and then apply them consistenly., obSee the methods aThJ prinrjples of th8 Charities SORP., make judgements and estlmates that are rèasonable and prudent,. slate whether appllcable accounting standards and s1ateffnts of recommeTrJed praclce have been followed, sublecl to any material departures disclosad and explained In the finanrjal statements; prepare the finarKial st3tem8nts on the wng concern bags unless il is inappropriate to presume that the charity will conts'nue its actsvities. The Trustees are responsibb for k8ey.ng proper accounting records, which disc105e with reasonable accuw at any time, the fi'nanaal position of the Charity and which enable them to ensure that the financial statements rAJmply wrth the Charits'es Act 2011, the Charity {Accounts and Reports} Regulations and the provisions of the tNsl deed. They have general responsibility for tsking such steps as are reasonably open to them to safeguard the assets of the chanty and to prevent and detect fraud and t)ther irregularrties. INDEPENDENf EXAMINER The Trustees intend lo ask the existing examiner to undertske the iTrJependenl examinalion of the Charty in the following year. Approved by the Trustees on 19 February 2026 8Trd signed on their tehalf by.. Mr. J.A. Cooke- Chairman Page 4
KNOWLE HILL SCHOOL FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KNOWLE HILL SCHOOL FUND I report to the charity trustees on my examination of the accounts ofthe charity for the year ended 8 August 202S which are set out on pages 6 to 12. Ro8ponslbiliiies and basis of report As th8 charity's trustees you are responsible for the preparab'on of the accounts in accordarLe with the requirements of the Charibes Act 20111'lhe Acfl. I report in respect of ry examination of the charity'5 accounts carried out under section 145 of the Act and in carying out my examinab'on I have followed all the applicab Directions given by Ihe Chanty Commission under sethon 14515) of the Act. Indepfrndont examin•r'• itatoment I have completed my examinakn'on. I confirm that no material matter5 have come Io ry attention in connKtion with the examination giving me cause to believe that in any material respect 1. accounting records were not k8Pt in respect of the charity as required by 5ect¥)n 130 of the Act,. or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requ1mentS conceming the fom and content of aCcnts set out in the Charities IAGGounts and Reports) Regulaltons 2008 other than any requirement that the accounts give a 'tru& and fair view, whlch Is rtsjt 8 matter ConshIed as part of an Independent axaminalion. I have no concems and have com acr055 no other matters in connection wllh the examinatK*n to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Geoffrey Cox 8A FCA Daffems Audrt Limited One Eastsvojd Harry Weston Road Binley Business Park Coventry CV32UB Dated. 5...M.¢k..d-.. 201 Page 5
KNOWLE HILL SCHOOL FUND STATEMENT OF FINANCIAL AcTIVlEs for the year ended 8 August 202S Unre5trlcted accumulated Incoff Endowment funds Total 2025 Total 2024 Notes INCOME ANO ENDOWMENTS Incom• and endowm•nts from: Investment income Interest reIV8b1e 30,457 2,775 30,457 2,775 29,736 2.903 Total Income and endowments 33,232 33,232 32,639 Expendlture on: Charttable actlvltl•• Awards and grants Clerk's fees 8.338 6.250 8,338 8,250 9,977 6,634 Support CO8ts: Accountancy and Independent examlnation Office costs Trustees, liability insurance 1,512 1.566 108 1,512 1,566 108 1,380 721 192 Totsl exp•ndltur0 Net In¢om•l lexpendltur•) 15,458 15,458 13,735 Oth•r rncognlsed galn8111088081: Net unrealisthj gainllo88 on investments 10 17.706 Not movement In funds 15,448 {17,6961 12.2481 66,871 Reconclllatlon of funds.. Fund balances brought forward at 9 August 2024 91610 1076,982 1 168 592 1,101721 Fund balances carried forward al 8 August 2025 107 058 1059 286 1166 344 1 168.592 The statement of financial activities includes all gains and losses regnISed in the year. Atl incoming resources and resources expended derrve from continuing activits'es. The notes on pages 8 10 12 fom part ot these accounts Page 6
KNOWLE HILL SCHOOL FUND BALANCE SHEET 8 August 2025 2025 2024 Notes FIXED ASSETS Investments 1,059,918 1.077.624 CURRENT ASSETS Debtors Buihling society deposits 8,643 106303 8,254 84,635 114,946 92,889 CREDITORS: Amounts falling due within on8 year 18,520 NET CURRENT ASSETS 106,426 NET ASSETS 1,168,592 FUNDS OF THE CHARITY Endowment fund Unrestricted income fund 1,059,286 1,076,982 91.610 TOTAL FUNDS 1,166 344 1,168592 Approved ty the Trustees on 19 February 2026 8r¢d signed on their behalf by'.- Mr. J.A. Cooke Trustee Mrs. J. Richmond Trustee The notes on pages 8 to 12 fom) part of these accounts Page 7
KNOWLE HILL SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS for the year ended 8 August 2028 ACCOUNTING POLICIES The lollowing polioes have been used consistenUy in dealing vith items whKh a considered material in reialion to the charity's accounls. la} B8818 of prnparatlon Knowle Hill School fund is an unin¢orporaled charty registe in England and Wales. The address of the registered offic£ is given in the chartty infornab'on on page 1 of these ftnanc1 statements. The natufe of the charty operations and pnncipal activits'es is lo assist with and promo18 the education of young people urKler the age of 25 years who a, or who have a parent resident in th8 old cwnty of warWk as con3ts"tuted 1905. The charity constr(utes a public benefit entity as defined by FRS 102. The financial $lalemenls have been prepad in accordance with Aocouniing and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the Unrted Kingdom and Republic of Ireland IFRS 1021, the Chanties Act 2011, and UK Generally Accepted Accounting Practice. The financial stslements have been prepared lo give a 'true and fair, vlew and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provida a 'true and fair view,. Thls departure has involved following the Accountlng and Reporting by Charities,. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued in October 2019 rather than the A¢¢ountsng and Reporting by Charities.. Stslemenl of R8commended Practice effecb've Irom 1 April 2005 whlch has since been withdrawn. The financ4al Statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the fvncty'onal currency of the charity and rounded lo the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These polic$ have been conslstenlly applied lo all years presenled unless otherwise stated. Ibl C¥pltal and Income Capital and incom& separated in a¢rrdance wrth Trust Law. Icl Income All incoming resources are recognised onGe the charity has enlitiement lo the resources, r( is probable that the resources will be receNed and the monetary value of incoming resources can be measured wth sufficient reliability. Idl Investment Incorno Investn*nt income is accounted for in the ped in which the charity is ents'tkd to receipt and represents UnStrICted income. 181 Expenditure and irrecoverable VAT Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the chanty to the expendrture. All expenditure is accounted for on an awruals basis and has been classffied under headings that ajgregate all costs related to the category. Grants payable are payments made to third parties in the furtheranc6 of the charitable objectives of the Fund. The grants are accounted for where e((her the Trustee5 have agreed to pay the grant without condition and the recipEnl has a reasonable expectats.on that they will receNe a grant, or any condition attaching to the grant is outside the control of the Fund. Irrecoverable VAT is charged against the category of resources expended for which it was incUrd. Page 8
KNOWLE HILL SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS for the year ended 8 August 2025 ACCOUNTING POUCIES ICONfD) 10 Fixed as8Ot investments Investment5 a recognised inilialty at fair value whith 1$ normally transact)n pri excluding transacb'on costs. Subsequenuy they are measured at fair value with changes regnised in nel gainslllossesl on investments, in the statement of financtal actNities if the shares are publully traded or their fair value can otherwise be measured reliably. Ig} Roa1160d galns and1088 All gains and bsses ar8 taken to the ststemenl of finanaal activrties a5 they ari8e. Realised gains and losses on investments are calculated as the dffterence be*een sales prcteeds and opening market value {purchase date if lalerl. Unrealised gains and losses are calculated as the difference beeen the market value at the year end and opening market value lor purchase date rf18ter). Realised and unrealised gains are not separated in the Ststemenl of Financial Activities. {hl Dobtorn •nd crodltors re¢olvablelpayable within on& yaar Debtors and credf(ors with no slated interest rale and receivable or payable wrthln one year are reG¥Jrd at transacth?n price. Any losses arising from impaifmenl are recognised in exFenditur&. 111 Fund8 Endowmont fund• Thi5 fund consists of the original endowment together with the accumulated gains 8nd108ses arlslng from its inveslmenl, and may onty be applied in the acquisllion of other invèstments. unrO•trf¢t lund8 Thls nd consists of accumulated surpluses of incoffe not appli8d lo olher purpases. which the Charity may use for Pufposes designated by rts governing Schem8. (i) Golng ¢oncam The financial statements have been prepared on a going conG8rn basis as the trustees believe that material uncertainties exist. The trustees have considered the level of fvnds held and the expectsd level of income and expenditure for 12 ffKJnths from authori51ng these financial statements. RELATED PAR TRANSACTIONS AND TRUSTEES, REMUNERATION Trustees received no emolumont$12024.' £Nill nor expenses in the year12024.' £NIII. INCOME AND ENDOWMENTS All income received in the current and preceding year is wholty attributAble to the Unrestricted 8ccumulated income lund. Page 9
KNOWLE HILL SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS for tho year ended 8 August 2025 AWARDS AND GRANTS 2025 2024 Grants to Institutions Dunchurch JuniorAcademy 788 1,857 MIertOn Primary School 788 2,457 Post Grnduate Award S¢home Kupakwahe Rabvuhx Hafsa Kader Ary Phelps Murtaza Hazareh Amoleek Anjan Kaur Tsz Man Tam Tsz Yin Tam Ryan IsheThvood 1,000 500 1,500 700 2.000 1.000 1,000 450 8,650 Gr•nts to Indlvldual•: 412024., 281 900 Tot•1 All awards and grants are made from the Unrestr¢ted accumulated Income fund in the current and preceding year. In relation to grants to indNiduats the Truslees require appInIS lo complete a comprehensive form whlch Sets out, inter alia, the purpose of the appIatron, the means of the applicant and details of the applicant's famity including co-habilees and thildren who may not be subject ol the appIatn. In accordance with th8 charity deed applicants $houkJ be in need of financial assistance and fall within three main CategOrS as follows :. Assistance with school uniform and equipment. For attendance organi5ed school trips {usualty IdentIal for 5 days) where the individual familie5 are unable lo meet the cost Inormally around £380 per applicanll. Vlhere applicants have been referred direct from sockql workers. The Trustees 18nd lo be more supwrtive of Ihis G*egory of application. Page 10
KNOWLE HILL SCHOOL FUND NOTES TO THE FINANCIAL sTATEMErs for the year Mdgd 8 August 2025 SUPPORT COSTS All support costs relate to the charity's one charitable activity and are wholly attributable to the Unrestn'd8d accumulated income fund in both the current and preceding year. FIXED ASSEf INVESTMENTS 54.164 Income shares in the ChaTitles OITtcial Investment Fund Market value at 9 August 2024 Unrealised gain 1,077.624 Market value at 8 August 2025 1059 918 Historfcal st at 8 August 2025 262,350 DEBTORS 2025 2024 ArUed dwidends Accrued interest Other deblcfs 7.616 938 7.437 817 8,643 CREDrroRS'. Amounts falling due wrthln one year Independent Examiners feès OffrA costs Clerk's Fee 1,512 758 1,380 541 ANALYSIS OF NET ASSETS BETWEEN FUNDS Cash balanc Othor net current asselslliabililies Investmen Total Endowment fund Unrestricted 8¢¢umulated income fund 1,059,286 1,059,288 632 106,303 123 1059918 106,303 123 The Unrestricted AccumuL4ted Income Fund represents the unrestricted fvnds which are free to use in accordance wilh the charitable objects. The Endowment fvnd represents those assets whi¢h must be held Femanentty by the charity, principally its investment in the Charities OffLial Investrnent Fund. Page 11
KNOWLE HILL SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS for the year ènded 8 Augu8t 2024 10. CONTROLLING PARTY The Chanty was urKler the control of ts Board of Trustees throughout the cjjrrent and preceding year. 11. FINANCIAL INSTRUMENTS The carying aUnt of the Gharrty's financial instruments are as follows.. 2025 202 Flnanclal assets Measured fair value through nel incom818xpenditure'. Fixed assèts listed investments (nots 61 1,059 918 1077 624 The income, expenses, net gains and net 108sos attributsble to the charity's financial instruments are Summarised a8 follows.. 2025 2024 Incnme aThJ exFense Financlal assets measured at frair valu8 through net income I expendrture 30,457 29.736 Net gains and losses (including changes In fair value) Financial assets rneasud at fair value through net income I expendrtur8 (17,7061 53,136 Page 12