Registered Charlty Number. 289174
THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
ANNUAL REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2022

THE FRIENDS OF QUEEN EUZABETH'S SCHOOL
CONTENTS
Pag8
Trustee's 8nnual report
Independent Audltorf$ rtport
8-11
Consolidated Slalement of Fln8n¢lal A¢tSvilieB includlng Con801id81ed Income
and Expenditure Account
12
Charrty Statement of Flnancial Activities indudin9 Chafity Incom
and Expenditu￿ A¢¢ount
13
Group Balance Sheet
14
Charky 88lan¢¢ Sheet
Group and Ch4nty Slal8menl of Ca6h Flows
Accounting Policie8
17.18
Notes lo the Financlal Slal&menls
19-25

ThE FRIENDS OF QUEEN EUZABETH'S SCHOOL
Page 1
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 JULY 2022
The Trustee submll$ ils annual report anil financial slalements of The Friends of Queen Elizabeth'8 School
and ils subsidiary undertaking for the year ended 31 July 2022.
The accounts have boen prepared in accordanc8 With the accounting policies set out on pages 17 and 18 of
the attached financial slalements and cemply with the charity's Trust Deed, the Charities Act 2011 8nd
Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charilles
preparing their accounts in accordance wlth the Financial Roporting Sland8rd applicable in the United
Kingdom and Republic of Ireland IFRS 1021.
CTURE GOVERNANCE AND MANAGEMENT
The Friends of Queen Elizabeth's Schocl 18 a regi81ered charlly. 118 objects, power8 and other
constrtutional matters are set out in ils Trust Deed of March 1993. 11 is govern&d by a corporate trustee,
which is responsible for setting tha 8lral8gic direction of the organisalion and for establishing pollcy.
The flnancial statements cornply with current slatulory rèquiremènts. the Charill8 governing documents
and the Charities SORP IFRS 1021.
Tru•tO08
The Chanly reorganised the governance structure in September 2021. On 10 September 2021 all
previously indlvldu81 Iruslees resigned and the corporate Iruslee, Tho Friends ol Queen Elizabeth,
School Corporate Trust88 Limited Irggistered number 135596811 w98 8ppolnled ¥5 8ole Iru81ee. The
directors of the corporate trustee, act as Tru81ee represenlalives, are..
E Aghdlran
A Blnslock
D Cook8
N Enrighl
N Gaskell
E Houston
B Martin
C Prlce
Al the above wgr8 appointed on 1 Olb Sèptember 2021 .
The individu81 Trustee8 who served up to 10th Seplemter 2021 were..
E. Aghdlran
N. Enrighl
N. Gaskell
E. Houston
B. Martln
C. Price
EFERENC
AN
ADMINISTRA
IL
Reg18torgd addr8
Queen Elizabeth's S¢hcc4
Queen's Road
8arnet
Herts
EN5 4DQ
harlty regSstratlon numbgr
289174
Rogistered audltor
Buzzacott LLP
130 Wood Slreet
London
EC2V 6DL

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 2
TrUSTEE'S REPORT {CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
Bank•r6
CAF Bank Llmtted
Klng$ Hlll
West Malling
Kent
ME19 4TA
HSBC PIC
140 Hlgh Street
Bamet
HertB
EN5 5XW
Ex•¢utlvo cornmltt••
B. Martln. Chaimian
N. Enright, Headm881er
D. M060n, Secretary
T, Mama-Kahn. School Caplaln
A. Bin61ock
C. Coughl8n
P. Forre8t8r
P Raykar
W. Rodrlguè8
D. Singh
P. R4ykw

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 3
TRUSTEE'S REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2022
3. OBJECTIVES AND ACTIVITIES
The Charills objects, powers and other constitutional matter8 8re sat OLrt in ils Trust Deed. In setting
the Charills objectives and planning ils activities, the Trustee h85 given careful consideration lo the
Charity Commission's public benefit guidance. The Charlly has continued ils principal acllvity of
providing for 811 or any of the following..
The advancement of educab'on at Queen EIiz8beth's School I the School'l.
The provision, maintenance. insurance. reconstruction or repair of the School buildings, fixtures,
fittings and equipment including vehicles and anyfacilily of whatsoever nature present al the School
or subsequently lo be erected al the School, including the provision or exlension or maintenance
of playing fields an(18ny othor recreational facility.
The general frncour8gement of 811 educ81ional pursuits by the sludonts of the School, including the
provision of film5, books, lectures, educational equipment, 8POrting, recreational and musical
equlpment and costs involved in attending external aducalional cour8es or visits.
The provi8i0n of financial assI81ance lo neces$ilou$ puplls of the School for the purpo80$ 01
8cquirlng ¢lolhlng, books, tools, instruments and equipment.
Invèstment Powgrs ond Pollcy
Investment powers are governed by the Trust Deed. There are no restrictions on the Charity'5 absolute
POW8r of Investment. The charity may accumulate any income nol immediately required for the purposes
of The Frionds by investing the same and re8ulling income Ihoreof in such manner as the Trustees
determine. To date, the Trustee continu88 to keep the Charity funds In 8hort.term bank deposits.
Structur•, Governance and Manwgemfynt
The objects of the Charity are lo advance the education of the boy5 of the School by providing and
agsislin9 in the provision of facilities for educallon at the School, and lo engagg in actlvltles that support
the Sehool and ils pupils.
The Corporate Trustee lfrom Séptember 2021) set the policies of th8 Charity wth respect to both the
raising of fund8 and the management of those funds in aGcordanee with Ils objects. thus retainlng
Strategic control of the Charity's 8clivrties. The CDrporale Tru$t•a iy governed by 8 number of Directors
appointed under the lemis of ils Memorandum and Article8 of Association.
Ther6 is al80 an Exo¢utlv8 Committee. %thich plan$ and runs evenl8 to raise funds for th8 Charity and
to promote the cohesion of members oflhe schogl communilythrough participation in these endeavours.
The Executive Committee meets approximately 8 limes per year and Sub-Commillee8 rneet more
Irequgnlly lo plan particul8r events. The Trustee odminis18rs the funds raised through Ih85e initiatives.
The Executive Commrtlee are drawn from members of the Charity Iparents 8nd guardians of pupils of
the School, members of school 5taffj and honorary members (former member3 and Old Elizabelhansl.
In addition lo raising fundg and providing fadlrties for eilucation at the Sthool, mamber8 regularly assist
8t many School ftjnctions and 8UPPOrt the wider life of the school. Ordln8ry members are kept informed
by rneans of the School's termly newsletter and by additional mailing$ from Ihg Executive from time lo
me. The annual report is presented lo the Annual Meeting.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 4
TRUSTEE'S REPORT ICONnNUED)
FOR THE YEAR ENDED 31 JULY 2022
Connoctod Oryanlsatlons Includlng Rglated Party Relatlonshlp$
The Friends of Queen Elizabeth's School provides funding for the provision of facilities for the educallon
of pupils al Queen Elizabeth's School, Barnel Iregislered numbgr 073512531.
The Friends of Queen Elizabeth's School Corporate Trustee Limited Iregislered number 13559681) is
the sole Iruslee of The Friends of Queen Elizabeth's School.
The Friends of Queen Elizabath'5 School18 the parent company to FQE Ente￿¥83 Limf(ed Iregislered
number 068331801. the wholly owned subsidiary. The 8ubsidiary's principal trading activity is to provlde
School uniform, equipment and other related products 8nd service5 to the pupils of Queen Elizabeth,
School, Barn81. All profits from the subsidiary are don81ed lo The Friends of Queen Ellzabeth's School
by Gift Aid ￿￿thIn nlne months of the end of the reporting year.
The Friends of Queen Eliz8belh's bchool Lorporale Trustee Limited 0￿rat6$ %nlfi TniAtrFtA Ainftp. 1nlh
Seplémbgr 2021.
Publlc Benoflt
Tl)e Guvernors aCkno￿edge the duty In Secllon 4 of the Charltbes Act 2011 to have due regard lo the
Charity Commission'g published general and relevant sub-sector puidance on public benefit. They h8ve
rolerred lo this guldance when r8viewing the alms, 8lr81egy and planning future activitie8. All aelivilie8
undertaken by the Scfiool aro for the public ￿nefIt.
The Charity is spgcrfically re8lricl¢d to advance for the public benefll educatlon In the Unlted Kingdom
and reports annually on the ways in which il has 8uccesslully delivered in this regard. The Charlly's
ovorrlding objective of advancing education al Queen Elizabeth's School meets the Charlly
Commi8slon'8 publlc benefll guldance since the support given lo Queen EIIz8belh's School benefits all
of the students al the School. In aédilion, the support given lo Thé School by th8 Chgrity provides piiblic
benefit to the wider educational communlty. For example, the School's gwimming pool was funded
through donations from the Charity and 18 now used by several local primary schools al heavily
subsidlsed rèntal rales.
Fundrnl¥lng Practlc•s
The Charity raises funds from only the wider School eommunily of pupils, parents, friends, family 8nd
former pupils. 11 does not use any third p8rties lo fundraise and limrts 118 appeals to simple requests for
voluntary don81ion$ through the Glvlng lo QE covenant scheme. 8nd appe81 pages on Ju¥lGiving and
CAFDonate. No complaints about fundraislng havg been recelveil in the year.
4. AC
IEVEMENTS AND P
FORMANCE
11 THE EXTENT TO WHICH OBJECTIVES HAVE BEEN MET
Followng re81riGtions last year with COVID-19 pandemic, i￿perSon actlvitl08 of the Charity were re-
in8ts1ed.
The level of donations received durfng the year wa$ Gonsislent wth prior perlods. The continuing level
of income has enabled the Charity lo grant significant ringncial assSslance lo the School to fund the
construction of the Mayes Music building, which opened in February 2022.

THE FRIENDS OF QUEEN ELIZABETh'S SCHOOL
Page 5
TRUSTEE'S REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2022
111 SUMMARY
During the last grtademic year, the Friends have continued lo provide financial support lo Queen
Elizabeth's School. Capital projects financed by the FQE continue lo impact profoundly upon the working
environment and extra-curricular life of tho School. The boys would simply not be able lo enjoy the range
of sporting and cultural experlences they do wilhoul the Friends, wd&ranging sUPPOrt that also includes
basics such as th8 running costs of the minibusgs and costs of celebrations such as tho Junior and
Senior Awards ceremonies. Thesè extra-curricular enrichments contribute significandy lo the school's
mission of producing rounded young pe¢Jple who are confident, able and responsible. There is also
direct correlation between the pupi18' extra-curricular enrichment and their extraordinary academie
8chievem8n18. Staff derive confidence from the support th81 the School receives from the FQE as they
know that the work they do here is highly valued. Pupils lake Ihern8elves seriously when they know that
many have given so mu¢h voluntarily to enhance their educational experience.
During th• ￿rAid. work was ccfflpleted on the eon81rucllon of the May88 Mu8ic block at the School,
This very exciting building was lunded in part by grants from the Condition Improvement Fund I'CIF") of
the Education gnd Skllls Funding Agency. but a vory significant portion wa8 funded by the Ch8rlly. The
construction phase started in Augu812020 8fter only short delays ori$ing from tho Covid-19 disruption,
Durfng the year th9 Charity granted £399,00012021.' £1,150,000) lo the School for construction COBt8.
The School opened the new building for u8e in the academic year.
In addrtion to fijndlng this malor capital ilgm, th8 Chanty h88 donaled lo the School durlng the year lor
purposes, which Include the purchase of IT equipment and general sile improvgmenls. The ChBrily
onlinued lo donate to the School lo cover travel costs lof pupils lo attend events and fixtures. The
Charity hos plédged funds by donation lo the School of £120.000 10 6n8ble these work8 to be carried
out. At the year-•nd. Ihls enllre amount was due to be paid to the School.
A don8tion was received for the sp¢cillc purpose towards the School'8 library. In addition, the annual
Founder8 Fete and School Walkathon ral8ed funds for the Specif￿ purpose of 8 new project. Robert
Dudley Studio, expected 10 8t8rt works in Summer of 2023. In the current year, £20,978 was allocated
to spe¢iflc projects.
It IS also of paramount Importance that Queen Elizab8th's holds lo a steady course and stands fimi on
the common core values that bind the School Cofnmunlty together. In so doing we en8ure th81 parents,
staff, old boys, trustees of the corporate tru¥leg and govemors work together effectively lo realise the
School'8 priorities and achieve our mlsslon. It is this unity of purpose, reflected m8leri811y in the many
donations lo FQE that lies at the heart ol our boys, widespread SUCGo5s95.
Th8 School had another splendid year wth excellent results al GCSE and A levd. The pupils and staff
are immensely grateful for the 5UPPDrt the School receive8 from The Friends of Queen Elizabeth's
School.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 6
TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
1111 PLANS FOR THE FUTURE
The malor oble¢tSve of the next year is to continue to 8UPPOrt the School lo fund other capital projects,
which include th8 Robert Dudley Studio, and part fund maln school boller and roofing works.
The Charity continues lo mtsnllor the level of donation ineome, particularly in light of the recent cost of
living increases, and will work closely with the School in order to provide support 8s needed for the
School's Priorities for Developmènt to enable the be81 use of av8ilable resources The Trustee
reprp58nlalive5 have 88se¥sed wh81her the Charfly wlll continue as a going concern for at least a period
of ￿e1ve months from the dale of approving the financial slal8menls and have concluded that Iherg are
no material uncertainties about th8 Charity's ability lo Continue and accordingly the financial statements
are prepared on the going concern bBs15.
6. FINANCIAL REVIEW
Tho r08ulls are r•portod ￿thIn th• flnanclal elat8ment$ pnd the Charlty's as$et5 are ￿ufficient lo meet
ItB obllgations.
The principal funding sources are by way of dtsnaiions to the Charity and income generated from
fun(J-raising activities within Qu8an Elizabeth'5 School, Bernel.
Total Incomo for the year waB £1,056,791 12021.. £973,964> and lolal expendtture w88 £980,77012021'.
£1,380,564). Funds are used lo support building projects and educatlonal development8 wllhin Qu8gn
Elizabeth's SchDoI. B8rnet.
Reserves Pollcy
Nolo 7 to the flnancial statements shows ltte movem@nl in funds by typo. Tho Ch8rily'5 polScy is lo build
up reserves by means of annual operating surplu$gs and ludiclous management of ils investment 88Sèt8
lo enable the pursuance of the Ch8rity'5 objects. The reserves are then used on a periodie basis lo
rnake grants lo the School. A$ al 31 July 2022, fro9 reserves ol the Ch8rily 9￿ £678,834 ar￿ the Trustee
considers that 8ufflcienl re8eNe8 8re held lo cover the expected donations to the School durlng the
2022123 year.
Grant Maklng PolScy
Grants to Queen Elizabeth's School are m8de In accordance with the pr￿?dureS laid down by the
corpor818 trustee and e8t8blished by the condltion8 8et down by the donor of the frJnd8.
Rlsk Mwnagoment
The Board continues lo keep tl)e Cl)8rlly's a¢liviti¥s uii(l¥r rovi¥w, p¥ili¥ulaily willi i¥y¥id lu yiiy Inajor
rlsks that may arise from lime lo lime includlnq..
Strategic risks including macro-economic. pandemic and technology risks where donor leve18 are
monitored monthly ond there are procedure5 to maintain IT $￿U￿tY regularly.,
Public Pfollle rlsks, which is reduced with cornpliance via heallh and safely commtnee.,
Humon resource8, Employee legislation 8nd Vvelfare risks are all managed IhrDugh the School
operations,. and
Organisalion risk, which is mrtigated with INslees undertaking training. deci5ions-making by wl)ole
trustee body.
Investsnent In FQE Enterprlses Ltd
The Charity holds an investmgnt of £25.000 In FQE Enterprises Ltd, a wholly owned subsidiBry of the
Charity which runs the School's shop. Nl of the Shop's prolils are donated to the Charity each year.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 7
TRUSTEE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
STATEMENT OF TRUSTEE'S RESPONSIBILITIES
The Trustee is responsible for preparing thè Trustee's Annual Report and the flnanci81 statements In
accordgnce wlh applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Acceptgd AcGountlng Practice).
The law applicable lo charities in England and Wales require8 the Trustee to prepare accounts for each
financial year which give a true and fair view of the slate of affairs of the Charity and the group and of
the Income and expgndilure of the group for that perlod. In preparing these accoun15, the Trustee is
required to..
691gct suitab16 accounting policies and then apply them consl8lenlly,'
observe the molhod8 Sné prfnoples in Accounting and Reporting by Charib"e8'. Slalemenl of
R6comm8nded Practice applicable lo charities preparing their accoun18 in accordance ¥￿th the
Financial Reporting Standard appllcable in the UK and Republlc of Ireland (FRS 1021,.
makg judgemen18 and 86ts'male$ th81 are reasonable and prudont.,
slate whether applicable United Kingdom Accounting Standards have been followed. Subject to
ny material departures disclosed and explained in the accounts., and
pffjpare the accounts on the going concern basi8 unle8$ 11 1$ inappropriate to presume that the
Charity wlll continue In operg110n.
The Tru81ee is responsible for keeping proper accounting records th81 disclose bmlh reasonable
accuracy al any time the financial position of Ihg Charty and enable them to ensure that the fin8noal
slalemenls comply with the Ch8rilie8 Act 2011, the Chadly (Accounls and Reports) Regulation8 2008
and the provisions of the trust dèed. It18 8180 responsible for safeguarding the assets of the group and
hencg for taking re88onable steps for the prevention 8nd deledion of fraud and other irregularili•s.
KEY
MENT REMUN
LICY
The key m8nagemenl of the Charf(y are regarded 86 Truste¢ represenlalive8. They do not recelve any
remuner8tr.on or beneflts in kind.
N Enrlght
Dlrector
1 Oih October 2022

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Pagc 8
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEE OF THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
FOR THE YEAR ENDED 31 JULY 2022
Oplnlon
We havo audited the financial slalemenls of The Friends of Queen EIiz8belh'8 School (the 'p8rent
charity'l and ils subsidiary (the 'group'l for the year ended 31 July 2022 which comprisé the group and
parent charity $lalemenl ol linanaal activities, balance sheets, slalemenl of cash flows, the principal
accounting policies and the nol88 lo the financial slalements. Tho financial reporting Iramework that has
been applied in their preparation is applicable law and Unitèd Kingdom Accountin9 Slandaids, including
Financial Reporting Standard 102 'The Financial Repotlng Standard opplicable in the UK and Republi
of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our oplnlon. the Ilnancial statements-
give 8 true and f8lr view of the slate of the group'y and of the p8renl charrty's affairs as al 31
JLily 2022 and of their income and oxpondllurè for Ihft y8ar than 8nded',
have been prop&rly prepared In 8ccordance with Unrted Kbngdom Generally Accepted
Accounting PractlC8.' 8n¢J
h8vg been prepared in accordance wllh the fequiremenls ol the Ch8rilie$ Act 2011.
Ba818 for oplnlon
Wg conducted our audit In accordance with Inlernallon81 Standard8 on Auditing (UK} IISAS IUKII and
applicable law. Our responsibillliep under those stsndards ar8 further de8crlbed in the auditor's
r8sponsibililies for the audit of Ihe financial slalemenls se¢lion of our report. We are Independent of the
group In 8c¢ordance wilh the ethical requirements that are relevant lo our audit of the financial
8lal&menls In the UK, including the FRC'S Ethical Standard, and we have ftilfilled our olh8r ethical
responsibililles in accordance wllh these raquirgmenls. We belleve that the audit evidence we have
obtained is sufficient and appropriatè 10 provide a basis for our opinion.
Concluslons rglatlng to golng ¢on¢¢rn
In auditing the flnanci818lalem8nls, we have concluded that the trustee'8 use of the going concern basis
of accounting in the preparation of the financlal $181emenls Is appropriate.
Based on the work we have perfomied, we have not hdenlifi8d any malerlal uncertalnli88 relating lo
evenl8 or conditions that, individually or collectlvely. moy cast significant doubl on the group and parent
charlly's ability lo continue as a going concern for a period of al least twelve months from Iknen Ihe
financi81 slalemenls are authorised for is$ue.
Our re8pon$ibililie8 and the responsibilities of the trustee %wth respect to going wncem are described
in tt* relevant seciions of this report.
Othgr Infomiatlon
The Iruslees are responsible for the other Information. The other inform811on comprlses the Infomalion
induded in the annual report, other than the financial slalemenls and our 8udf(or's report Ihereon. Our
opinion on the financial statements does not cover the other information and we do not expr95$ any
form of assurance conclusion thereon.
In connection with our audit of the financial slalemenls, our respon8lbillly Is lo ￿ad the other informallon
and, In doing so. consider whether the other informalH)n is materially inconsistent with the financial
statements or our kno￿edge obtained in the audit or otherwse appears lo be materially misstated. If
we identify such material inconsistencAes or apparent material misslatemenls, we are required tc
determine vthelhgr there is 8 material misstatement in the financial statements or a material
misslatemenl ol the other infotmation. If, based on the WO￿ we have performed, we conclud& that there
18 a material misstslemenl of IhS8 other information, we are required lo report that fact.
We have nothing lo report in this regard.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 9
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEE OF THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
FOR THE YEAR ENDED 31 JULY 2022 ICONTINUED)
Matter8 on whlch we arg r•qulred to report by exception
W8 have nothing to report in respect of the following matters In relation to %thich the Ch8rfftles Act 2011
requires us lo report to you if, in our opinion..
tha information given in the Iru$lee'8 annual report 18 inconsistent in any malerlal respect wlth
the finan¢ial 8lalements', or
8ufficient accounting r8cords have not been kept by the parent charity,, or
the parent charity financi818lal8ment8 are not in agreement with th8 accounting records and
reluTn$'. or
we have not r6calved 811 the information and explanations we require for our audit.
Reopon8lbllStl•s of tho tru¥ts•
As explained more fully in the trustee's r8sponsibililies 8lalem¢nl, the Irii8lee 18 responsible for the
preparation of the fbnancial $18temenls and for being satisfied that they give a true and f8ir view, and for
Such internal control as the trusl88s d818rmlne is necessary lo gnable the preparation of financial
$lal8m8nts Ihot are free from material mi8ststem•nl, whether due lo fraud or arror.
In preparin9 the financial slatemenls, the trustee is responsible for 8sses81ng the group'y and the parent
charity's ablllly to conlinue as 8 going conceTn, dlsclosing, è8 applicable, maller5 related lo going
concern and using the going concern basis ol accounting unless the Iruslees either intend lo liquidate
the group or the par6nl charity or to ¢•ase operations, or hove no realistic allernalive bul lo do so.
Audltorfs rosponslbllltleg for the Judlt of the flnancl81 $tat•monts
Our objectives are to obt8in reason8b18 a8sur8nce about whether the fin8n¢ial 61alement8 a8 8
are free from malerlal misslalemenl, whether duè lo fraud or error, and lo issue an auditor's report that
includes our opinion. Reasonable 8S8urance is a high level of a88urance, bul 18 not a guarantee that an
audit ¢onducled in accordance with ISAS IUKI will always delect 8 material mi8slalemenl when il exists.
Misstalemenls can arise from fraud or error and are considered m81eri81 if, indivldu8lly or in the
aggreg816, they could re8sonably be expected lo Influen¢¢ the economic decislons of users taken on
the b8¥ls of these fln8ncial 8latem6nls.
Irregul8rSlles, including fraud. are inslan¢o8 of non-complianco with laws and regulallons. We design
procedures in line with our responsibilili8s, outlined 8bove. lo delect materi81 misslalements in re5pècI
of irregu18ri1ies, including fraud. The ext¢nt lo which our procedures are capable of detgcling
Irregularllles, including fraud 18 delalled below..
How the 8udil was cvnsKlefftd capable of deteGting IrTpgul8rilffjs including Iraud
Our approach lo idenllfying and as$e$sing the ri8ks of materS8l m5ssi8temenl In respect of irregul8rftles,
including fraL*J and non-complian¢e with laws and regulations, was as follows..
the engag8ment partner ensured that th¢ engagement team collgclively had the appropriate
competence, capabllhies and skills lo identlly or recognise non-compliance applicable
laws and regulations.,
we idenlrfied the laws and regulations applicabl8 to the group through discussion8 With the
Iruslee and other managem¢nt, and from aur commercial knO￿edge and exp8rience of the
sector.,
we focused on 8pecffj￿ lew5 and regulations which we considered may have a direct material
effect on the financial statements or the oper8tions of the group, including the Charities Act
2011, data protection legislats'on. and health and safety legislation.,

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 10
INDEPENOENT AUDITOR'S REPORT
TO THE TRUSTEE OF THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
FOR THE YEAR ENDED 31 JULY 2022 (CONTINUED)
Audltor's responsibiliti•$ for the audlt of tho flnanclal Ststements (contlnuedl
we assessèd the extent of compliance wlh the law5 and rfjgulations identified above through
maklng enquiries of m8nagemenl 8nd inspectin9 legal correspondence." and
identified laws and regulations were communic8ted wlhin thè audit team regularty and the
team remained alert lo instances ol non-compliance throughout the audit.
We assessed the suscepllbilily of the charlty's fin8naal 81atemenls lo matèrial misstatement.
including obtaining an understanding of how fraud might occur, by..
making 8nquirie6 of management as to Whe￿ Ihcy consdofed there was sugeeplibilily lo
fraud. their knO￿adge of actual, suspected and alleged fraud., and
considering the internal controls in place to miligale risks nf fraijd 8nd non-cornplianee wllh
laws and regulallons.
To 8ddres8 thé risk of froud through management bias and override of control8, we..
perfomied analytical proc•dure81o identify any unusual or un8xpect¢d relgtSonship8',
t&$led the implemenlallon of fin8nci81 controls.. 8nd
asse88ed whether judgements ané 888umptions made in determining tha acr.oiinling
eslimales were indicallve ol polenllal bias.
In responsé lo the risk ol irregularitiès and non-compliance wlh laws and regulat'ons. we designed
pro¢gdureB which included, but were not limilad to..
agreeing financS815ts1emenl disc108Ufe8 to underlying 8upporling documenlallon.,
reading the minutes of meetings of th059 charged with govemance.,
enquiring of management as lo actual and poltrnli81 litlg8llon and clalm8.' and
reviewng any available correspondence with HMRC Bnd the ch8rrty's18gal advlsors (although
n()ne w88 noted as bgino recolved by thè groupi.
There are Inherent limitations in our audit pr¢xedures described above. Thé more removed that law8
and regulallons ore from lin8nci81 Iransaclions. the less likely rt is that we would become aware of non-
compliance. Auditing sland8rds 81so limit the audit procedures required lo identify non-compliance with
laws and regulations to enquiry of the trustee and other management and the inspection of regulatory
and legal correspondence, rf any.
Matorial misslalemenls that arise due to fraud can be harder lo delect than those that arise from error
a5 they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audrt of the financial statements is located on the
Financial Reporting Counul's website at ww.frc.Drg.ukl8uditorsresponsibilities. This description forms
part of our audltor's report.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page11
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEE OF THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
FOR THE YEAR ENDEO 31 JULY 2022 (CONTINUED)
U8• of our report
This report 1$ made 501ely lo the charilvs trustee, as a body, in 8ccord8nce wlh 8ectSon 144 of the
Charities Act 2011 and with regulation8 made under section 154 Of that Act. Our audi( worl( h88 been
un(Jert8ken so that we might state to the charity's Iruslee Ih05e matters we are requlredlg sLgte lo thern
In en auditor's report and for no other purpose. To the fullest extent permillod by law. we do not 8ecepl
or assume responsibility to anyone other than the charf(y and the charrt*8 trustee a5 a body, for our
8udll work, for this report, or for the oplnlons we hav8 formed.
buz2o41 LLf
Buzzacott LLP
Statutory AudStor
130 Wood Street
London
EC2V 6DL
Dale.. 13 October 2022
Buzzacott LLP 18 eligible to act 88 an audblor in t•m18 of Section 1212 of the Companie8 Act 2006

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 12
CONSOLIDATED STATEMENT OF FINANCIAL ACnVITIES (INCLUDING CONSOLIDATED
INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022
2022
Unrn•trfct8d
Fun
2022
R•Btrlet•d
Fundi
2022
Total
2021
Uftrn4trkt¢d
zo
R•strkfvd
Fund¥
Tolal
Donau￿￿ aTrY
1698de&
18,480
818,764
766,725
14.867
781.592
4e.338
46.336
19,3KI
19.390
Other tradli)u
Bcthnlle8
191.400
191.461)
'IT2,8T'I
172.871
IrNeslmerrf8
201
201
Tot•1
1,D3B,311
1,006,791
14•6T
973,964
ExpeNDiniRE
ON..
RalalrvJ ￿ndS
160.843
180,843
14&289
145.289
C￿r￿￿b
Kllvlllei
798,99]
20,977
819.927
1,218,212
17,063
1,235,275
Totsl
909,793
20,977
900,770
1,363,501
17,063
1.380,561
Nlt
1•x￿n￿1￿mI Ir
th• y•ir •nd n•t
mo¥•nwi In
fund4
12.4071
78,021
(1198J
(4C46001
Rqconclllatlon of
fvnda
Total luTrJ8
txoughtforw8rd
621,899
37,952
669.861
I,026,￿3
40.148
1.066,451
Toi•l fund•
rrfod for￿
700,417
735,872
621,899
37.902
159.851
The ¥talemgnl of financial acb'vrties indude8 all gains and10sses recognised in the year.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 13
CHARITY STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING CHARITY INCOME AND
EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022
2022
Unrnstrict•d
Fynd
2022
Rotri¢t¢d
Fund•
2022
Toial
20
R•5Lrtct•d
Funds
Unr•Btrtct8d
Fund8
Donalion$ arhl
leg8c￿S
18,480
839,446
773,426
f4,86T
788,293
Charttable
46,338
40,338
79.390
19.390
197
197
iio
Tot•1
867N99
18.480
&979
T92.926
8Q7.TP3
EXPENDITURE
ON..
R&￿Ing fund•
320
320
Chad1*￿6
4cti¥itle•
790.082
20.977
811,03
1,210,997
IT,Q63
7.228,0
Totsl
710,062
20.977
811,069
1,211.311
17.083
1,224374
N•t Incomg
l•xp•ndltur•l for
ihg y•Nrand n•t
Mov•Mw￿ I
fund•
77,417
11497>
74,920
f41l38J)
IMJ
1420,UiJ
Roconcllhtlon of
fynd•
Total
brDughl foTknYrd
601.217
37.952
839,169
7,019,602
40,148
t,OJ9.7
Tot•1 fun*J•
rrf•d
678,634
714,089
6Ql,217
J7,9S2
139,169
The 8tatemenl of financial aclivilKg8 Includes all gains 8nd1088e8 recognised in the year.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 14
GROUP BALANCE SHEEr
AT 31 JULY 2022
Noto
2022
2021
Current a890ts
Stock8
56,815
84,897
862,204
72,392
39,019
722,929
Debtors
Cash al bank and In hand
12
Total Current •si•t•
983,916
834,340
Credltorn.. Amoun18 falling due whhln one ye8r
1248,0441
1174,4891
urr•nt as8•ts108• current Il•bllltlov5
73 Jf.872
659,851
Total a•tsts lfr•• ¢urrnnt Ilabllltl•s
730,872
659.861
Compri$ing'.
Fund•
Re8lricled
35,455
700,417
37,952
fj21,899
Unrestricted.. General fund8
Total Funds
736,872
869.851
Th8 flnanclal 81atemenls were 8pproved by the Tru8lee on 10* October 2022 an¢J 8ign8d on ils khalf by
N Enrlght
Dlrector
N Gaskell
Dlroctor

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 15
CHARiff BALANCE SHEET
AT 31 JULY 2022
Note
2022
2021
Flxed as••t Inv8¥tm•nt
Investm￿t in Subsidiary cornpany
25.000
26,000
Current a88•ts
D$btor8
46,343
786,723
34,302
656.035
Cash at bank and in hand
12
833,088
690,337
Crodltors.. Amounts falling du• YAlhln one year
1143.9771
{76,1681
Currnnt a•¥ets le•¥ ¢urrnnt Il•bllltl•s
889,089
614,169
Total •38•t8 l•M current Ilabllltl•8
714.089
639,169
Compr58Snq'.
Fund•
Reslrfcted
35,45S
678,634
37,952
601,217
Unre8trfct8d'. General fund8
Total Fund•
714,089
639,169
The flnonagl st8lements were approved by the Trustee on 1 Olh O¢lob•r 2022 and signed on It8 beh811 by
N Enrfght
Director
N Gaskell
DSrector

ThE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 16
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDING 31 JULY 2022
GROUP
CHARITY
Total funds
2022
Totsl fund8
2021
Total funds
2022
Total funds
2021
Note
CA8h flow8 from
op&ratliig acUvlll¥s:
Ngt cash provided by
(used inl operoling
aclivitias
11
139.074
11.005,9281
130.491
11.026,7301
Cosh flows from
Investlng aGtlvltlo•'.
Intere51
201
111
197
110
Change In cash ind
cash equlvalont8 In
the yoar
Cash and cash
equiv81ents brougm
forwaid
Cash and cash
equlvalent8 carrled
forward
139,27S
11,000,817>
130,688
11,026,620>
722,929
1,728,748
658,035
1,682,655
12
862.204
722,929
786.723
6S6,036
The Frlends of Queen Elizabeth's School doeB not have any borrovlngs or lea8e oblig8tions. Net debt
on8181s Ih8refor• of the ca8h at b8nk and In hand.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 17
ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 JULY 2022
AccountSng Conventlon and Basls of Prep•r•tlon
The financial slalgmen16 of the Charity are prepared in accordance with The Charibes Act 2011, The
Charities (Accounts and Reports) Regulations 2008 and the Charities SORP IFRS 1021 upd81ed in
20191 SORP I, and with applicable accounting standards. These financial statements are dr8wn up
on the hl8loric81 cost accounting baBi$ gxeepl th81 investment assets are carri8d at valu811on.
Group Flnanclal Statements
Thase financial statement8 consolidate the re$ull8 of the Charrty and its wholly-owned subsidiary,
FQE Enterpri8es Llmiled on a line by line basis.
Donatlon8
Donations representing Degd8 of Cov¢nanl and Gift Aid are accounted for in the poriod in whlch the
harily Is 8nlilled lo receiv•.
In¢ome Tax ReclaIm￿l
Income lax reclaimed on income from Deeds of Cov•n8nt and Gfft Aid Is accounted for on an
accruals bg5i8.
Actlvltle3 Incom•
Actlvllle8 income repro8onlB the gro88 income arising Dn fundrai8Sng actlvilieB durlng the year.
Inv6•tment & Inv••tmgnt In¢om•
Inveslmonl In the 8ubsidlary ha8 b88n Bt&led al co¥t I￿8 any provlsbon for permanent diminullon in
value. Inv&$tmenl Income is accounted for in the period in which the Charity is entitled to receivg.
Exp•ndlturo
Expenditure Is Included in the Slalemenl of Flnancial Actlvltle8 on an accruals b8$is, incluslve ol any
VAT whlch cannot be reGovered. 11 is recognised when there 18 a legal or conslruclive Dbligalion lo
pay.1118 Ffobablg that settlement will ￿ required and the amount of the obligation ¢8n be measured
reliably.
Certain •xpendlture18 dlrectly attrlbulable lo speclflc actlvhles and ha8 been included In those ¢081
categories. Certain other costs, which are attributable lo more than one acllvlty, are 8PWrtioned
across cost ¢a18gorle8 on the basis of resDurces used on thos& 8Ctivllies.
Grants P•y•bl•
Grants payable ar8 charged to the Income an(1 expenditure 8c¢ount in th8 pèriod in I￿[ch the
projects which are supported al the School Sncur expenditure.
Fund Accountlng
The Funds held by the Charty are divid¢d inte unreslricled general fund8, which can b8 used in
accordance with the charitable objeds al the discretion of the Tru8tee, and restricted funds, which
mu81 be us8d for the objects Specified by the donors of those funds.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Pagp. 18
ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 JULY 2022
Golng concgrn
The Trusteè a88esses whether the use of going concem for preparing the financial slalemenls Is
appropriate. i.e. whether there are any material uncertainties related lo events or conditions that may
c88t signrflcant doubt on the ability of the Charity lo continue as a going concem.
The Tw5tee make8 this as8essment in re8pect of perlod of one year from the date of approval of the
flnancial slalements. The Trustee concludes that there are no malerlal uncertainties about the
Charity's ability lo conlinue and accordingly the financial stalgmenls are prepareLI on the golng
concem ba818.
Flnanclal In•trum•nts
I he Ghanty only enters Into ba81c fvnancial In8trumen18 Ir8n8acllons th81 result In th6 recognition of
rii)an¢io1 as8et8 and liabilities like Ir8d& 81Id olliei d¥blui¥ ¥ri¢J ui¥¢Jilvr¥.
The Chanty only holds baslc financial instruments 88 deflned In FRS 102. The financial a88el8 8nd
financi81 liabilitie8 of the Charity and Ihelr mèa8ur$m•nl b8515 are as follows..
F5n8ncial as$el8 Irado and other debtors are basic financi81 instruments 8nd are debt inslrumenl8
which 8re measured al amortlsed ¢081. Prepayments are not financial inslrumenls. Amount$ du•
from the Charity's rèlated undertakings are held al amort188d cost.
C8¥h at bank- is classifled a8 a ba8ic finandal In8trum8nl and 18 meaBured 81 face valuo.
Flnonclal liabilllies - trade credllor8. accruals and other cradllors 8ffj flnanelal inslrumenls, and are
measured al amortised co81. Taxation and $oGial security arg not included in the financial Instruments
disclosure definition. Deferred income 15 not deemed lo b8 a financial Iiabilrty, as the cash settlement
h89 already taken place and there Is an obllg8tion lo ddiver services rather than c88h or anolhgr
financial instrument. Amounts due lo rèl8léd undart8kings ara held al 8morti8ed cost.
stocks
Stocks 8re v81ued 81 tho lower of cost and nel reali8able value and after maklng due allowance for
ob801ete and slow moving sloeks.
Crltlcal Judgemfrnts and •8tlmatO•
There are no slgnrficanl arga5 Qf judgement, eslimaleB or key assumptions that effect items in Ihg
nanclal stslernenls with respect lo the nexl reporting period for the year ended 31 July 2022.
As set out In these accounting policles under'going concem". the Trustee has considered the Impact
of the pandemic on the charity and have concluded that although there may be some negative
consequences, il is appropriate for the charity to continu¢ lo prepare 11$ ?￿oUnt$ on the going
concern basis.

THE FRIENDS OF QUEEN EUZABETH'S SCHOOL
Page 19
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
Donations and legacl••
Group
Unrestrlctod
funds
R•strictsd
funds
Total
2022
Donations
853,007
18,480
671,487
Income lax recoverable
147 277
147,277
818.704
800,284
18.480
Chartty
Unrnstrlcted
fund•
Re8trlct•d
funds
Totsl
2022
Donations
673.689
18,480
692,169
Income lax recoverable
147.277
147 277
820.966
18.480
839,446
Comparntlv•J fory•ar ended 31 July 2021
Unrnslrlctod
funds
Group
R•8trlcted
fund•
Total
2021
Donation8
e24,930
14,867
839,797
Incom•1ox recoverable
141,795
766,720
141.795
781,692
14.867
Charlty
Unrg8trlct•d
funds
Re8tflcted
funds
Totsl
2021
Donation8
631,831
14.887
64e,498
Income lax recoverable
141 795
141 795
773,426
14,867
788,293
Charlt•blè actlvltles Income {Group and Charlty)
2022
2021
FDunderfB Day Fete
Quiz
450th anniversary fundralslng
24,715
403
21.218
46.336
14.471
1.250
19,390
AJI income from charitable 8clivilies 18 unrestricted in both the eurrent an(1 prior years.

THE FRIENDS OF QUEEN EUZABETH'S SCHOOL
Page 20
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
Expendlturg
Group
Unrestri¢t•d
funds
R•strfctsd
funds
Total 2022
E¥p8ndrfure on ra￿ing funds..
Cost of sales
Shop management fee
Total 8xpenditurn on rèv&ing lunds
108,843
52.000
160,843
108,843
160,843
Expandlluro on charttable
a¢tivities.'
Gronl8 P8yabl8 in furtherjnce of
the Charity'8 objects..
Contribution lo School Projects
Pupll travel
Support costs.. Bank and credit
card charges
Govèmance costs.. Audrtor,
remuneration.,
765,458
20.000
20,977
788,433
20,000
6,269
6,289
Audit fees
Other
To181 &xpgndlture on charitable
8¢frrfit￿S
5.500
5,500
798,950
20,977
819,927
Total oxpendllur•
?69,793
20,977
980,770
Gharlty
Unr•Btrlctgd
funds
R••trfcted
lund8
Tot•1 2022
Exp8ndrfurn on charil8ble
activi1￿5..
Grants payable in furtherance of
the ChaTIty'S Dblact•'.
Contribution to School Projects
Pupil travel
Support co$l$.' 8gnk and credlt
card charges
Gov8monce co818.' Audltols
remuneration..
765,458
20,000
20.977
786,433
20,000
1.626
1.626
Audm fe88
Other
3,000
3,000
To181 expenditu￿ on chantable
aCtivit￿S
790,082
20,977
811,059
Total •xpondlturo
790,082
20,9TI
811,069

THE FRIEND8 OF QUEEN ELIZABETH'8 SCHOOL
Page 21
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
Expendlturn {contlnuedl
Comparallves lorye•r éndèd 31 July 2021
Group
Unrostrlctgd
funds
R•$trlcted
funds
Totsl
2021
Expendituro on ra￿&1￿9 funds..
Aelivilies expenditure
Co81 of $8les
Shop m8nagernent fee
To181 eXpend￿ure on raising funds
320
94,969
50.000
145.289
320
94,989
145,289
Expendilur8 on ch8rllabl& aclivilies..
Grants payable in furtherance of the
Ch8rity8 oblecls..
Contrlbulion to School Projècts
Pupll travel
Support m$ls." Bank and credit ¢•rd
charges
Governance coJl•'. Auditor'8
remuneration..
1,202,790
3,485
17.063
1,219.853
3.465
4,032
4,032
Audlt fees
Other
5,175
2,750
5.175
2,750
Tol81 expenditur& on chanteblfj
activrfi8s
1,218,212
17,063
1.235,275
Total gxpondltur•
1,383,601
17,063
1,380.564
Charlty
Unmtrl¢ted
funds
ReBtrlcted
funds
Total
2021
ExpgndltuTr on Tr￿Ing funds..
Aclivi1188 expenditure
To1818xpendlture on Trtslng funds
320
320
320
320
Expendlture on ch8ri18ble aclNrti8s.'
Grants payable in furth&rance of the
Chadty'8 objgcl$'.
Contribution to School Projects
Pupil travel
Support C£Js18.' Bank and credll card
charges
Governance co8t•.' Auditor,
remuneration..
1,202,790
3,465
17,063
1,219,853
3,465
386
386
Audit fees
Other
2.850
2,850
Total expendrfure on ¢h8nt8bl8
aGtwrfies
1,210,991
17,063
1.228,054
Total expenditure
1,211.311
17,063
1,228.374

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 22
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
Trusts•
The key management of the Charity are regarded as thg trustees of the corporate trust88. They
received no remuneration or expen$e8 In either of the two financial years.
D•btor8
Group
2022
Ch•rlty
2021
2022
2021
Due In one ye8r'.
Inrnme. lax recover8ble
Prep8yments gnd accruad in¢ome
35,016
29,881
64,897
33,339
6.660
39,019
35,016
33,330
963
34.302
46,343
CrodltQf5: Amounts falllng duo wlthln one year
roup
Charlty
2022
2021
2022
2021
Grants payable lo Queen Ellzabeth's
School
Other creditor8
140.976
107,069
248.045
73,318
101 171
140,978
73,318
2.850
76,188
174,489
143.978
Fund•
Group
At 1 Augu•t 2021
Incom• Expendltur•
At 31 July 2022
Funds
Unrestricted
Reslncled
621,899
37,952
659 851
1,038,311
18,480
1066 791
1959,7931
{20,9771
980 770
700.417
35.455
Total Funds
736 872
harfty
Al 1 August 2021
Income Exp•ndltur•
At 31 July 2022
Funds
Unrestricted
Restrtcted
601.217
37,952
639,169
867,499
18,480
885,979
1790.082)
120,9771
811059
678,634
35,455
Total Funds
714,089
Durfng the year ended 31 July 2022, restricted donation8 have been receiv84 for specillc purposes mainly
towards the school library.

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 23
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
Funds Icontinuedl
Comparatlve8 for ygar •nd6d 31 July 2021
Group
At 1 August 2020
Income Expendlture
At 31 July 2021
Funds
Unrestricted
Rèslricled
1,026,303
40,148
1,066,451
959.097
14,867
973,964
{1,363.5011
117,083}
1380.664
621.899
37.9S2
Total Fund•
859,851
Charlty
At 1 August 2020
Incom• Expendlture
At 31 July 2021
Funds
Unreslrlcted
Restricted
1,019.602
40,148
1,069.760
792,928
14,867
807.793
{1,211,311}
117,083)
1228 374
601.217
37,952
639,169
Totsl Funds
Ourlng the year end&d 31 July 2021, reslricled donations were r8eelv8d for the specific purp08e of equipping
the new Mayes Music building 81 tho School with pi8nos.
Analys1$ of n•t ••#•ts betwo•n fund•
Group
Re8trfct•d
funds
Unrnstrlcted
funds
Totsl
Fund
Funds
Investments
Current 88set8
Current Ilabililies
56,432
120,9771
927,485
1227.0081
700.417
983,917
1248,0451
736.872
Balance at 31 July 2022
Charlty
Restrlcted
fundg
Unrutrlct•d
funds
Tot41
Fund8
Funds
Investments
Current assets
Current liabilities
25,000
778,e34
1123.0001
25,000
833,066
{143,9771
714 089
56.432
120,9771
35.4SS
Balance at 31 July 2022

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Pag8 24
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
Analys18 of net 888ets between funds IGOntlnued}
Comparnlivos foryear ended 31 July 2021
Group
Restrlcted
funds
Unrestrlcted
funds
Total
Fund8
Funds
Investmen18
Current assets
Current Ilabllllles
55,015
117,0631
779,325
1157,4261
821899
834,340
1174.4891
6S9.851
Balance at 31 July 2021
Charlty
Re•trl¢ted
fund8
Unre$trl¢t¢d
fund•
Total
Funds
Fund8
Invaglm￿13
Current assets
Current liabiliti88
25,000
635,322
159,1051
801 217
25.000
690,337
176,1681
639 169
55,015
117,0631
Balance at 31 July 2021
Invo8tmont In Sub•ldlary Company
The Friend8 of Quèèn Eliz*b8lh's School has inv881ed £25,000 in ils wholly owned Subsidiary, FQE
Enterprises Limbled, a company registered in England. The company's principal trading aetivily Is to
provide s¢h¢Jol unlform, oquipment, other related products and 8ervlces lo the pupils of the School.
The 8ubsiéiary donates ils annual laxable prafit lo The Friends of Queen Elizabeth's School by Grfi
Aid. This 1$ Irealed as a disln'bution in the 8ubsidiary financial s18temenls and a￿o￿nted when paid
over. The audited re8ulls for the year ended 31 July 2022 were..
2022
2021
Turnover
Cost of sales
Gross profil
191,490
108 843
82.647
172,871
94 969
77,902
Less..
Administrative expenses
60.869
57,221
Plus..
Bank interest
Relain8d in the sub8idiary
21,782
20,682
Aggregate capital 8nd resarves
46,782
45,682

THE FRIENDS OF QUEEN ELIZABETH'S SCHOOL
Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
10 Related party tr•nsactlons
Th8 Subsidiary has b88n granted a Ilcence to run the School shop from Queen Elizabeth'8 School,
Barnel, at a peppercorn rent.
During the year, the subsidiary collected monie8 In the School Shop amounung to £12.201 12021..
£5,444) which relates lo the activities of Queen Ellzabeth's School Barnel. Al the year-8nd, £4.052
12021.. £2,175) wa8 owed lo the School.
Year-end creditors includè £52,000 12021. £50,000) owed to Queen Elizabeth'8 Sthool, Bamel in
respect of the management charge for the School Shop.
Durtng the yg8r The Friends of Queen Elizabeth's School donalgd £765,458 12021.. £1,202,790110
Queen Elizabeth's School, Bam81, in respect tsf capital and operational proJed¥, £20,000 12021..
£3,485) in relation lo minibuses for pupil travel and £20.97712021'. £17,063) as support lor reslrlcted
projec18 Of these Surns £140.978 12021.. £73.318} 18 Included wlhin creditors and wa$ pald lo the
School after the yeor-end.
Thè School collected monles and pald monios relating 10 the Foundor's Day Fete and other activltl8B
on b¢half of the Charity. At the year.end £11,327 12021.. £9631 w8¥ owed Irom the School to the
charity.
11
Ca•h flows from oporatlng actSvltl••
GROUP
2022
CHARITY
2022
2021
2021
Net 8urpluslldefl¢lll for
thè reportlng period
76.021
1406,6001
74.920
1420,5811
Adlustmenl for intérest
Increaselld8crea8el in
debtors
12011
11971
25,8771
1,951
112,0411
{1.5651
Increaselldecreas81 In
$lock
1 S,577
3,998
Incre8sel{decreaBO1 in
redilors
Net cash provlded by
Ius8d Inl operating
actlvltlgs
73,554
1605.1861
67,809
1604,4741
139.074
{1,005,9281
130,491 11.026.730)
12 Cash and c•8h equlval•nts
Group
2022
Chorlty
2022
2021
2021
Cash al bank and in hand
862 204
722 929
656.035
856,036
862.204
722,929
786.723