Charity Commlssion Number: 292223 DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Financial statements for the year ended 31 March 2023
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND REGISTERED OFFICE.. Davenanl Foundation School Chester Road Loughlon Essex IG10 2LD BANKERS.. Lloyds plc 11 The Broadway LoLtghton Essex IG1D 3SW INVESTMENT MANAGERS: COIF Charity Funds CCLA Investtnanl Management Limited 1 Angel Lane London EC4R 3AB SOLIGITORS.. Winckworth She00d LLP Minerva House 5 Monlague Close London SE19BB INDEPENDENT EXAMINER: Hugh Swainson FCA Buzzacott LLP 130 Wood Street London EC2V 6DL CHARITY REGISTRATION NUMBER.. 292223
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND INDEX Page Trustees, r8POrt Independent examlner's r8POrt stalemeNI ol Ilnancial acllvilles Balance sheet 10 Notes lo the Ilnancial statements
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees, report lor the year ended 31 March 2023 The Trusle8s present their report and Ihe financial slalemenls lor the year endgd 31 March 2023. The flnancial statements have been prèpared In ac¢ordance with th8 accounling pollclos sel oul on pages 1110 13 01 Ihe allached accounts and comply wlh the charity's trust deed, the Charities Act 2011 and Accounilng and Reporting by Charilles.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reportlng Standard appllGable in the United Kingdom and Republlc ol Ireland IFRS 102). Charltable status The charity Is regisleied wllh the Charity Commission under roglslralion number 292223. 11 Is governed in accordance wllh the Rules adopted on 28 March 1985 and as amended on S December 1991. During 2008, the Rules were amended further lo relieve th8 charily ol a requirement for slalutory audit ol ils Ilnancial slalements. Publlc Beneflt The Iruslees have referred lo the guidance conlained In the Charity Commlssion's gen8Yal guldance on public ben8llt when reviewillg their aims and objectives and in planning lulur8 aclivilies. Alms and oblectlves The princlpal aclNity ol the Charity during the year conlirbLJed lo be the advancemenl ol the education ol pupils ol the Davenanl Foundation School and assislan¢e in the provision ol lacllilies lor the education ol pupils al the School. The eharity consists ol various funds.. 1. The General Fund Thls fund is used lo provide resources not mal from public lundlng. 11 derives ils Income from parental conlribulions, whloh are encouraged on a commllled basls. 2. The Arts, Fund This fund is a reslricled fund and is used excluslvely lor crealive and expressive arts activities in the Sohool. 11 derives ils income prlmarily from tuition lees, pertormance charges and voluntary donations. The fund is spent on p8ripalellc staff lees, perlormanoe exp8nses and thè purchase ol musical Instruments and oquipmenl. 3. The Holdlng Fund This fund holds incotne and expendilure in respect ol school activities and trips lalthough most trips are now run vla the academy accounlsl. Any small surpluses or delicils are Iranslerred lo a Hardship Fund lor the support ol students in need. The Tennis Fund is also designated- Irust8gs wish il lo be available lor maintenance and development ol Ihe tgnnis ¢ourts. Prlnclpal policles to achleve oblecls To encourage and increase regular committed and other giving by parents and friends ol the School.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2023 (Contd.) Progress and achlevements All funds have contlnued lo operale throughout the perlod and in accordance with the Aims and Obj8clives. The Charlly has SLJpporled many School aclivitl8s, Including.. From the General lulld.. Grants lo the academy to SLJPPOrt the cosl ol running trip5 alld aclivilies Minibus Exlra-currlcular sports activities and transport,. and Duke of EdSnburgh Award. From the Arts, fund: Peripalelic muslc luillon., and Maintenance and purchase ol musScal Inslrumenls. Review of financlal actlvltles General Unrestricted Fund$ The fund incomo for the year was £80,427 {2022 - £78,149). Parental contributions wer8 £73,102, compared wilh £72,587 in 2022. The overall surplus lor the year was £13,885. Thi5 ¢ompared lo a delicil of £27,334 lor the previous year. Th1s was a pleaslng result b8cause a caullous budgel had been set In anli¢ipalion ol lower parental donations. The year end reseN8s stand al £98,134 which comfortably covers one year's recurrent expenditure. The Deslgnaled Fund The year end balance of £47,244 comprises various commilted balances and the deslgnaled T8nnls Fund from whlch no expendllure was Incurred. Th8 purpose ol this fund is lo 'hold' funds lor speoilio acllvilies and any unspent funds lor ongoing projects aro earmarked and carried forward lo the next year. The Parents, Association formerly made a general grant, from which It5 specific allocallons wore made. Since 8Stablishlng ilsell as a r8glslered charity, it mak8s indlvidual donations directly to the academy lor specific projects. Support from the Parents, Assoclalion has not declined bul il no longor features in the Designated Fund. The Arts, Fund The lund incorne lor the year was £96,687 (2022 - £84,397). The overall surplus lor the year was £9,825. This compared lo a surplus 01 £7,196 lor the previous year. The year end resgrvgs sland at £33,093. Investment pollcy The charity's investment pollcy Is delermlned by the Trustees and Is that surplus oash should be held in readily awessible COIF deposit accounts that oller an acc8plable iale ol Interest.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Reserves policy End ol year surpluses are added lo reserves until such lime as the School requSres financial support lor a project. Trustees decide upon the level ol suppori, taklng account ol both the needs ol the School and the reserves avallable, At the yeai end the truslges believe that th& level ol reserves carried forward is sullicienl lor future needs. At 31 March 2023, the charily held general funds 01 £98,13412022 - £84,249) and designated ILsnds ol £47,244 {2022 £56,314). R8slrlcled fund balances al 31 March 2023 amounted to £33,093 12022 £23,268). Grant-maklng pollcy The Charity is solely dedlcaled lo supportlng the activities of Ihe School, in accordance wilh Ils slated alms. Risk management The Trustoes have 8xamined the major risks to which the charity is exposed and measures are in plac6 lo manage those rlsks as appropriate. Key risks that th8 charity laces include.. Reduced Income due to th8 ellecls ol the curr8nl economic sllualion Iparenlal donailons, fund ralsing events etc.). This is managed by holding a suitable level ol reserv8s and limlling recurrlng commllments on the Funds. Ensuring the muslc tuition provislon breaks even In the light of increasing Costs. This budget is carefully monitored to ensure the provision remalns viable. Related party transactlons Delails ol related pariy transactions are gwen In note 17 to the fSnancial slat&menl8. Key management The trustees comprlse the key manag8monl personnel ol the charity in charge ol direoling and controlling, running and operating the charity on a day to day basis. All Irusle8s gkve ol their time Ireely and no Iruslee rec8lved any remuneration in th8 year. Details ol trustee's exp8nses and remuneration are disclosed In notes 8 and 9 to Ihe accounts. Appolntment of Trustees Governors ol the Dav8nanl Foundation School are automatically appoint8d as Trustees of the Reynolds (School Privatel Fund, together with the Head Teacher, Deputy Head Teacher and Head ol Performing Arts. The day to day managemenl ol Ihe ¢harity is delegated to the Head Teacher, Mr A Thorne, the Head ol P8rform1ng Arts. Mrs R Tubb, and the Finance and Resources Manager, Mrs J Beaumont. All Governors undertake an induclion programme on appointment lo lamiliarise themselves with tho workings ol the school and the charity. Further training Is available from the Local Authority and th9 National Governors, Assoclatlon, as required.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS {SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2023 (Contd.) Trusteos The following Trusl88s have held ofllce during th8 year.. Mrs A Allen Ilrom 11 Oclob8r 20221 Mrs J Anderson lunlil 10 December 20221 Mr G Anthony (Chair from 11 October 20221 Ms C Cantlo Ilrom 11 October 20221 Mrs A Crombie Ilrom 11 Octobw 2022) Rev. C Davies Mrs O Faloye Mrs C Folkes Mr J Goldsworthy Ilrom 11 October 20221 Mrs C Hands Ilrom 11 October 20221 Mr M Hlcks Ms D Lee (until 26 AprS120231 Mrs N Lee-Johnslon (from 11 October 2022 Mrs D Lakg Mrs D Nelson (from 13 Dec8mb8r 20221 Mrs A Qlapad8 lunlll 19 July 20221 Mr D Prosser Mr H Smith Mrs S Temple Mr A Thorne Mrs R Tubb Ms M Vine-morris lunlil 11 October 20221 Foundation Governor Parent Governor Foundalion Governor Foundation Governor Foundal*)n Governor Foundalkin Governor Stall Governor Foundatlon Governor Communlty Govemor Communlty Governor Foundation Governor Parent Governor Foundation Governor Deputy Head Teacher Parent Governor Gommunlly Governor Foundation Governor Foundation Governor Foundatlon Governof Head Teacher Head ol P8rformlng Arts Foundation Governor
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Statement of Trustees, flnan¢lal responsibilitles The Trustees are responsiblg lor preparing the Truslees, report and Ihe Ilnanclal staternenls in accordance with applicable law and United Klngdom Ac¢ounllng Slandards (Unilgd Kingdom Generally Accepted Accounling Praclicel. The law applicabl8 to char1118s In England and Wales requires the Trustees lo prepare Ilnanclal slaternents lor eachllnancial year which giv8 a Iruo and lair vlew of the slate ol aftairs ol the charity and ol the income and expenditur8 ol the tsharily lor that P8flod. In preparlng these financial statements, the Trustees ar8 required lo.. select suitable accounllng polic1es and apply them consislenlly., observe Ihg methods and prtnciples In Accounting and Reporting by Charliies.. Slalement ol Recommended Practice applicable lo charities preparlng their accounts in accordance with the Financlal Reporting Standard applicable lo the Unlled Kingdom and Flepubllc ol Ireland IFRS 1021., make judgements and esllmales that ale reasonable and pn¢denl', slate whelher appllcable UK Accountlng Standards have been lollow8d, sublecl lo any material departures disclosed and explained in the financial statements. and prepare the Ilnancial slalemenls on the going concern basls unless it Is Inappropriale lo presume that the charily will continu8 In operation. Tho Trustees ar9 r8sponslble lor keeping proper accounting records that dlsclose with reasonable accuracy al any lime the linanclal posillon ol the charity and to enable Ihem lo ensure Ihal the financial slalem8nls Comply with the Charities Act 2011 , applicable Charily (Financial Slalemenls and Fleports} R8gulalions and the provisions ol the charlly's Irust deed. They aro also responslble lor safeguarding the ass8ls ol the charlly and hence lor taklng reasonable steps for lh8 provenlSon and detection ol fraud and other Irregularlties. Volunteers The Governors woukl like lo rgcord Ihelr thanks lo parents and Irlends ol the school who have conllnu8d to support tho school in many ways during the y8ar. Approved by th8 Trustees on and skJned on their behalf by.. Trust Trustee
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Independent Examiner's Report to the Trustees of The Reynolds (School Private) Fund I report to th8 charity Iruslges on my eXaMinatOn ol the accounts ol the charlly lor the year ended 31 March 2023. Responslbllltles and basis of report As the trustees ol the Charlly you are responslble lor the preparation ol the accounts in accordance wilh the requirements ol the Gharitl8s Act 20111'lhe Acl'l. I report In respect ol my examination of the charity's accounts carried out under section 145 01 the 2011 Act and carrying out my examinalion I have followed all the appIable Dlrections glven by the Charity Commlssion under section 14515}Ibl ol the Act. Independent examlner's statement I have compleled my examlnalion. l Conllrm that no material matters have com8 lo my allenllon In connection wllh my examination giving me cause to believe that in ally material r8specl'. accounting records were rtrol kept in respect of the charlty as required by sacllon 130 01 the Act. or the accounls do not accord wlth thos8 r8cords', or the accounts do nol comply wllh the applicable requirements concernillg the form and conlenl ol accounls set out In tho Charities (Accounls arsd Reports) Regulations 2008 other Ihan any requlremenl that the accounts give a 'lrue and lair view, whlch Is not a maller considered as part ol an Independenl examinallon. I have no cOnrS and have come across no other matters in eonneclion with the examination lo whlch attention should be drawn in this report order to enable a proper understanding ol the accounts lo be reached. •Lty Hugh SwaSnson, FCA lor Buzzacott LLP Chartered Accounlanls 130 Wood Street London, EG2V 6DL Dale.. 14 July 2023
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Statement of financial activities for the year ended 31 March 2023 Unrestrlcted funds Total funds 2023 Total funds 2022 Fle$lrlct8d Deslgnated funds funds Genèral funds Nol8s Income from: Donations and legaci85 Other trading activities Inveslmenls Bank deposit inleiesl Charitable acllvilies 136 10,231 520 11,471 78,267 78,923 21,702 77,505 15,939 1,770 390 1,770 95 123,720 105,111 86,320 37,010 Total Income 96,687 49,001 60,427 226,115 198,850 Expendlture on: Ralslng funds Trading expenses Producllon costs Charilabl8 activili&s 2,000 2,000 3,000 7,671 8,446 514 181 201,291 212,309 7,671 514 86,348 50,401 64,542 Total expgndllurè 86,862 58,072 66,542 211,476 223,936 Net Incom01lexpendlturel 9,825 19,0711 13,885 14,639 125,2861 Net movement In funds for Ihe year 9,825 19,0711 13,885 14,639 125,2861 Reconclllatlon of fund8: Fund balances brought forward al 1 April 2022 23,268 56,315 84,249 163.832 189,118 Fund balances carrled forward at 31 March 2023 14 33,093 47,244 98.134 178,471 163,832 Nong ol the charity's activities was acquired or disconllnued during the ave two financial years and there w8ie no recognwgd gains or loss8s olhèr than as shown above. Thg notes on pages 1110 21 form part ol these linanclal slalemenls.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Statement of financial activities for the year ended 31 March 2022 Unreslrleled funds rolal funds 2022 Resfrl¢tpd Deslgnaled fund$ funds General funds Notes Income from.. Donations and legacies other trading adivilies Invaslm8nls Charitabl& activities 299 5,027 20 10,912 77.186 T7,505 15,939 95 105,111 95 869 79,071 25,171 Total InGome 84,397 36,103 78.15Q 198,65Q Expendlture on.. Raising funds Charitable a¢liviti8s 181 77,020 8,446 32,805 3,000 102,484 11,627 212,309 Total expendlture 77,201 41,251 105,484 223,936 Net Income/(expendllure) belore translefs 7, 196 (5, 148) (27,334) (25,286) Transfers belw8en fvnds Nel rnovement In lunds for the year 7,196 (5,148) (27,334) (25,286) ReGonclllatlon ol lunds.. Fund balances broughl fonvard al 7 Apri12021 16,072 61.463 111,583 189,118 Fund balances carrled forward at 31 March 2022 14 23,268 56,315 84,249 163.832 None ol the ¢harily's acllvilies was acqulred or disconlinued during the abov8 two financial years and there were no rgcognlsed gains or losses other than as shown above. Nonè ol thè charity's aclivllies was acqulred or dis¢ofilinued during the above Iwo financial yoars and Ih8re were no recognis8d galns or lossès other than as shgwn above. Th& notes on pages 1110 21 lurtll part ol these financial slatgmenls.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Balance sheet as at 31 March 2023 2023 2022 Notes Curyent assets.. Stock Debtors Cash at bank and in hand 1,877 13,675 223,955 239,507 2,640 15,347 222,298 240,285 10 Llabllllies: Creditors.. atnounls falling due thiN on8 year 11 (61,036) 176,454} Net curyent asset5 178,471 163,831 Total net assets 178,471 163,831 The funds of the charity: Restricted Income funds Arts fund Tennis fund 14 14 33,093 23,268 33,093 23.268 Unreslrlcted funds Deslgnaled Fund General Fund 14 14 47,244 98,134 56,315 84,249 Total lunds 14 178,471 163,832 Approved by the Trustees and aulhorised lor issue on behalf. and 8igned on their Tru ee notes on pages 1110 21 form pa¥1 ol these linanclal statements. 10
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to Ihe linancial statements for the year ended 31 March 2023 Accountlng policles The principal accounllng policies adopted, judgements and key sources ol eslimalion uncertainly in Ihg preparation ol the accounts are laid out below. Basls ol accounting The8e accounts havo been prepargd lor the year to 31 March 2023. The accounts have been pr8pared undar the historical cost convenllon with Items re¢ognis8d al cost or transaction valua un18ss otherwise slated in the relevant accounllng pollcies below or lh8 notes to these accounts. The accounts have been pr8pared in accordance with Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charilles preparing their accounls In accordance with the Financial Reporling Standard applicable in the United Kingdom and Republic ol Ireland IFRS 1021 (Charilies SORP FRS 1021. the Financlal Floporting Standard applicable in the UK and Republlc ol Ireland IFRS 1021 and the Charities Act 2011. The charlly Constilules a publlc benefit entity as dglined by FRS 102. The accounts are presen18d In slerllng and are rounded to the nearest pound. b> Crlllcal accountlng estimales and areas of judgement Preparatlon of the ac¢ounl$ requires the Irusl8es lo make slgnilicanl judgements and eslimales. The itgms in the accounts where these ludgemenls and estimat85 have been made illGlude'. eslimaling the liability lor mulli-year grant commilmenls., and astimallng the useful 8conornic life of tangible fixed assels,. and The esllmalion ol lulure income and expendllure lor the purposes ol assessing going ¢oncern Isee bolow}. Assessment of golng concern The Iruslees have assessed whelher the use ol th8 golng concern assumption Is appropriale in preparing these accounts. The trustees have mad8 Ihls assessment in respect lo a period ol one year from the dale ol approval of these a¢coLJnls. The trustees ol the charity hav8 concluded that there are no materlal uncertainties related to events or condillons that may cast svJnilicant doubt on the ability ol the charity lo conilnue as a golng concern. The Irust88s are ol the opinion Ihal thg charity wlll have sufllclenl resources lo meet ils Ilabllilies as they fall due.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2023 (Contd.) Accountlng pollcles (Contd.) d) Income recognltlon Income Is recognised in the period in which charity has enlitlemgnl to th& income, il can be measured reliably and il is probable that the incorne will be recelved. The following speolllc pollcles apply to categories ol income.. Income receivod from parents. covenants is accounted lor on an accruals basls. Donations and grants ar8 accounted lor on a roceivable basis. Donations received lor the general purposes of the charity are included as unreslricled funds. Dollallons for aclivilles reslricled by the wishes ol the donor are taken to reslricled funds where those shes are legally binding on the Trustees. Expenditure recognition All expenditure is included on an accruals basis. The charity is not registered lor VAT and accordlngly expendllure is shown gross ol Iriecoverable V AT. Certain expenditure is direclly attributable to specillc activi118s and has been included in those cost categories. Where costs cannot b8 directly attributed to sp8cillc actlvities, they have been allocated lo activities on a basis consistent with the use ol the resources. Fundraising and publiclly expenditure comprises costs incurred by fund In encouraglng Ilnancial conlrlbullons lo its acliwlies. Grants are charged to thè statement ol linar)clal acllvilles when they are due lor paymenl or when tho charity has commilled lo make lulure payments Musical inslruments are lully expended in the year ol purchase. Governance costs are the ¢osls assoclaled wilh the governance arrangements ol the charity whlch relale to tho general running ol Ihe charity as opposed to those costs associated wilh fundraising or charitable aclivily. Support costs, Including governance costs, comprlsg costs ol general management, account5ng and finance. Support costs are allocated as 6901. lo charltable expenditure and 31 Yg lo costs ol generating lunds, being the estimated lime spent on each aclivily. School trips Income and 8xpenditur8 on School trips relates lo trips which have taken place during the financial year, where th8 income and expenditure have been finally delermined. Where Irips are due lo lake place in a tulure year, the expènditure relallng lo such trips has been includod in prepayments and the income in deferred income. g) stock Stock comprises goods loi resale and has been valLAed at the lower ol cost and nel realisable value. 12
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2023 {Contd.) Accounling policles (Contd.) Debtors Debtors arg recognised at their selllemenl amount, less any provision lor non- recoverability. Prepayments are valued al the amounl prepaid. Provision Is made lor all cov8nanled income whSch is wnsidered lo be irrecoverable. Cash at bank and In hand Cash al bank and hand represents such ac¢ounls and instruments that are available on demand or hav8 a maturity of less than Ihree monlhs from the dale ol acquisition. J) Credltors and provislons Creditors and provisions are rèeognised when Iheie is an obligation at the balance sheet dale as a result of a past evonl, il is probable that a Ifansler ol economic benefit will be required In seiilemenl. and the amount ol the settlement can be estimated rellably. Credilors and provisions are recognlsed al the amount the charity antlclpatos It will pay lo settle the debt. Fund accounting Funds heid by the charty are.. these are funds which can b8 used in accordance with the eharily's objects, at the discrellon ol the Board. Ihese are unreslrfcled funds Sel aslde by the Board lor particular purposes. Unreslrleled funds Designated funds - Reslricled funds these are funds that are subjocl to special condltions imposed by the donor, or through the terms ol an appeal. Taxation Tax refunds receivable on covenanted and Gilt Aid donalions are accounted lor on an accruals basis. The Fund Is a registared charity and accordlngly is exempl from taxalion on ils income where it is applied lor ¢harilabl8 purposes. 13
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the flnancial slatements for Ihe year ended 31 March 2023 (Contd.) Donatlons and legacles Total lunds 2023 Restrlcled Deslgnated funds funds Cleneral tund Parental contributions linclL4dlr lax 1g1iell Granls - Parents Association Donations ancl gllls 73,102 73,102 500 5,321 500 20 136 5,165 Total funds 2023 136 520 78,267 78,923 Fleslricled D8signaled lunds lunds G&neral Total lunds fund 2022 Parenlal contributnS fincluding Èax relie1} Grants . Parents Association Donations and gills 72,587 72,587 299 4,599 4,918 Tolal funds 2022 299 20 77,186 77,505 Other tradlng activities Total funds 2023 Restylcted Deslgnaled tunds funds General fund Trading incom8 Production income 11,471 11,471 10,231 10,231 Total tunds 2023 10,231 11,471 21,702 Rgslri0led D6signaled funds lunds Gen6ral Total lunds lund 2022 Tradlng income Producllon income 10,912 10,912 5,027 5.027 Total funds 2Q22 5,027 10,912 15,939 14
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the linancial statements for the year ended 31 March 2023 (Contd.) Charltable activltles Total funds 2023 Restrlcled Deslgnated funds funds General fund Income from school trips and other aclivi1188 Tuition and exarn lees 37,010 390 37,400 86,320 86,320 Total funds 2023 86,320 37,010 390 123.720 Restricted Dsslgnal&d lunds lunds G8n8ral Total funds fund 2022 InGome Irom school trlps and other activities Tullion and exam fees 522 78,549 25,171 869 26,562 78,549 To121 lun(ts 20Y 79,071 25,171 869 105,111 Expendllure on ralslng funds Total funds 2023 Restrlcted Deslgnaled funds funds General fund Salarigs Olhgr Tradillg expènses Productions cogls 3,500 {1,5001 3,500 11,5001 7,671 514 7.671 514 Total funds 2023 514 7,671 2,000 10,1B5 Aeslrittled Designated funds lunds General Tolal funds lund 2Q22 Salaries Other Trading expenses Productions cosls 3,500 (500) 3,500 (500) 8.446 181 8,446 181 rotalfunds 2022 181 8,446 3,000 Y 1,627 15
DAVENANT FOUNDATION SCHOOL THE REYNOLDS {SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2023 (Contd.) Expendllure on charitable activities Tolol funds 2023 Restrlcted Deslgnaled funds funds General fund School trips and other a¢livilies Tuition and exam lees Musical inslrumenls, costs and rgpairs Gllls and donallons Conlrlbulion lo school's projects Salaries and adrninislralion costs 16 74,599 33,119 11,655 44,790 74.599 1,077 1,077 7.558 47,972 25,295 6,762 9,862 658 796 38,110 13,981 10,656 Total funds 2023 86.348 50,401 64.542 201,291 AestriGl8d Dsslgnalgd funds funds G8n&ral Tol&l funds lund 2022 School trips and other activi11gS Tuition and exam fees Muslcal instruments, costs and repairs Gifts and donalions Conlribulion lo school's projecls Salaries and adminislralion cosls 85 65, 796 14,837 13,465 28,387 65, 796 992 992 9,281 74,760 33.093 9,259 7,627 1,082 22 67, 133 21.864 YO,147 Total lunds 2022 77,020 32,805 102,484 212,309 The charity does not have any ernployees. Salary costs Yelal8 ID peripatetic MUS stall and administration and recharged ID the charity by Dav8nanl FourTrdalion SchoDI. Salaries and admlnlslralion costs may b8 analys8d as lolbws.. Total funds 2023 Restrlcted Deslgnaled funds funds General fund AdminislraliDn and salary cosl Parent pay expg11598 Sundry Governanc8 costs Inole 71 8,800 1,325 31 500 7,228 16.028 1,983 2,568 4,716 658 2,537 4,216 10,656 658 13,981 25.295 16
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statemenls for the year ended 31 March 2023 {Contd.) Costs of charltable actlvitles Iconlinued) Reslricled Deslgnal8d funds lunds Gen8ral Total funds lund 2022 Adminislralion and salary cost Parent pay expensos Sundry Governancg cosls (note 7) 8,8QO 782 65 500 16,016 24,816 1,864 2,061 4,352 1,082 1,996 3,852 10,147 1,082 21,864 33,093 Governance Total lunds 2023 Reslrlcted Deslgnated funds funds Gener81 fund Independent examiner's fees Trustee's Indemnlly insurance 500 1.830 2,386 2,330 2,386 500 4,216 4,716 Fl&sIrted Deswnaled lunds lunds Gen8ral Tol81 funds fund 2022 Indepgndent gx&miner's fees Trustees Indèmnity insuranco 500 1,678 2.174 2,178 2,174 500 3,852 4,352 Staff costs and remuneratlon of key management personnel The charity employ8d no stall during the year12022 - norse). The key management personnel ol the charity In charge of directing and controlling the charity comprise the trustees. The lolal remuneration lin¢luding taxable b8n911ts and ernoyer,s pgnslon conlribulionsl ol the key management personnel lor the year was £nil (2022 - £nill. 17
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2023 (Contd.) Trustees The Trustees rocelved no remunorallon during the year and no reimbursement lor gxp8nses 12022 - £nill During th8 year, the charity pald £2,38612022- £2,174) lor Trustee's Indemnity insurance. 10, Debtois 2023 2022 Tax recoverable Other debtors Prepayments 9,752 1,526 2,397 12,887 2,460 13,675 15,347 11. Credltors: amounts falllng due wlthin one year 2023 2022 Olher creditors arKI accNals Deferred in¢om8: .Trip illcome (Note 121 .oiher INole 131 16,825 27,779 12,417 31,794 8,556 40,118 61,036 76,453 12. Advance receipts for trips and other activities 2023 Balance al l April 2022 Advance receipts received during the year Released lo slalemenl ol Ilnancial acllvilies 8,556 12,417 18,556} Balance al 31 March 2023 12,417 2022 Balance al l April 2021 Adv8fflGe iec8IPts r8ceiv8d during the year Releas8d to sla18m&ntof fvnanclal acllvilles 9,809 8,556 (9.809) Balance at 31 M<irch 2022 8,556 18
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial slalements for Ihe year ended 31 March 2023 (Contd.) 13. Olher deterred income 2023 Balance al l April 2022 Advance feceipls recoived during the year Rel&as8d lo slalomenl ol Ilnanclal acllvllles 40,118 31,794 140,1181 Balance al 31 March 2023 31,794 2022 Balanoe at l Aprll 2021 A8Geived during Ihg ygar Rg1g&sed lo slatemenl Of iinanoial aclivlli8S 26,570 40, 120 (26,570) Balance at 51 March 2022 40, 120 14. Funds Balance a131 March 2023 Balance at 1 Aprll 2022 Incomo Expendlture Translers Re5trlcted Funds Arts Fund Total Restrlcled Fund$ 23,268 23,268 96,687 96,687 186,862} 166,862) 33,093 33,093 Designated Funds Tennis Fund Awards Fund Parents Assoclalion School Tiips and Acliviligs Fund 19,722 1,160 19,722 1,150 1301 35,433 48,981 {58,0421 26,372 Total Deslgnated Funds 56,315 49,001 {58,0721 47,244 General Fund 84,249 80,427 166,5421 98,134 Tolal Unrestricted Funds 140.564 129,428 1124,6141 145,378 Total Fund5 163,832 226.115 1211,4761 178,471 The nature and purrx)se of each fund is explalned in the Trusle8s' report. 19
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2023 (Contd.) 14. Funds (contlnued} 8alanc8 at31 March 2022 Balance at l April 2021 Incom8 Expendllur& Trans18rs Restilcl8d Funds Arts Fund Tolal ReslrKled Funds 16,072 16,072 84,397 84,397 (77.201) (77.201) 23.268 23,268 Deslgnaled Funds Tennis Fund Awards Fund Parents Associatlon School Trips andAclivili&s Fund 19,722 1,140 79.722 1,160 20 40,601 36,083 (41,251) 35,433 Total D8sffgnaled Funds 61,463 36,103 (41,25YJ 56.315 General Fund 111,583 78,150 (105,484) 84,249 Total Unrgs1rt6d Funds 173,046 114,253 (146, 735) 140,563 Total Funds 189,118 198.650 (223,936) 163,832 15. Analysls of net assets between the funds Restricted Deslgnated Unrestricted tunds funds fund 2023 Total Current assets Gurrgnl Ilablllties 52,496 119,4031 83,323 136,079) 103,686 15,5541 239,507 161.0361 At 31 March 20¥J 33,093 47.244 98,134 178,471 Reslrict8d DeslgrFaled Unr&slricled lunds lunds fund 2022 Tolal Gurrenl assèts Cuirent liabilities 47,293 124,025J 98,118 (41,803) 94.874 (10,625) 240.285 176.453) Al 31 March 2022 23,268 56,315 84,249 163.832 20
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2023 (Contd.) 16. Control The ¢harlty Is controlled by the Trustees. 17. Related party transactlons During the year, the Charity made grants and donallons amountlng 10 £47,971 12022 - £74,760) to Davenanl Foundation School. During the ygar, the charity was recharged salary cosls r8laling lo peripaletic music stall amounling lo £74,22512022 - £65,239) and administration amounllng to £8,80012022- £26,8001. In addition, there are various payments, whlch although they are not made directly lo the school, are ol ben?lil lo Ihe school, lor example coach Iransport cosls. 21