Charity Commission Number: 292223 DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Financial statements for the year ended 31 March 2024
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND REGISTERED OFFICE.. Davenanl Foundation Sthool Chester Road Lougttton Essex IG10 2LD BANKERS.. Lloyds plc 11 The Broadway Loughton Essex IG10 3SW INVESTMENT MANAGERS.. COIF Charity Funds CCLA Investment Management Limiied 1 Angel Lane London EC4R 3AB SOLICITORS.. Winckworth Shawood LLP Minerva House 5 Monlague Cli)se London SE19BB INDEPENDENT EXAMINER.. Hugh Swainson FCA Buzzacott LLP 130 Wood Stre8t London EC2V 6DL CHARITY REGISTRATION NUMBER.. 292223
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND
| INDEX | Page |
|---|---|
| Trustees’ report | 2 – 6 |
| Independent examiner’s report | 7 |
| Statement of financial activities | 8 - 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 21 |
1
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees, report for the year ended 31 March 2024 The Trustees present their report and the financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 1110 13 of the attached accounts and comply wrth the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). Charitable status The charity is registered with the Charity Commission under registration number 292223. 11 is governed in accordance with the Rules adopted on 28 March 1985 and as amended on 5 December 1991. During 2008, the Rules were amended further to relieve charity of a requirement for statutory audit of rts financial statements. Publlc Benefit The trustees have referred to Ihe gldan cont8ined in the Charity Comrnission's general guidan on public benefit when reviewing their aims and obje¢tives and in planning future activities. Aims and objectlves The principal actwity of the charity during the year continued to be the advancement of the educatlon of pupils of the Davenant Foundation School and assistance in the provision of facilities for the education of pupils at the School. The charity consists of various funds.. l. The General Fund This fund is used to provide resour8 not met from public fvnding. It derives its income from parental contributions, which are encouraged on a committed basis. 2. The Arts, Fund This fund is a restricted fund and is used exclusively for creative and expressive arts activities in the School. It derives ils income primarily from tuition fees, performance charges and voluntary donations. The fund is spent on peripatetic staff fees, performance expenses and the purchase of musical instruments and equipment. 3. The Holding Fund This fund holds income and expenditure in reswt of school activitles and tp$ {although most trips are now run via the academy accounts). Any small surpluses or deficits are transferred trj a Hardship Fund for the support of students in need. The Tennis Fund is also designated., trustees wish it to be available for maintenance and developmenl of the tennis courts. Prlnclpal policies to achleve objects To encourage and increase regular committed arvj other giving by parents and frieTKls of the School.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2024 (Contd.) Progress and achlevements All funds have continued to operate throughout the period and in accordance with the Aims and Objectives. The Charity has supported many School activities, including.. From the General fund.. Grants to the academy to support the cost of wnning trips and activities Minibus Extra-curricular sports actFvities and transport., and Duke of Edinburgh Award. From the Arts, fund: PeripatetlG music tuition; and Maintenance and purchase of musical instruments. Revlew of financial a¢vItIeS General Unrestrlcted Fund3 The fund income for the year was £66,196 (2023 - £80,427). Parental (x)ntributions were £59,016, compared with £73,102 in 2023. The overall deficit for the year was £19,237. This cornpgred to a surplus of £13,885 for the previous year. This was planned in the light of high reserves The year end serveS stand at £78,897 which comfortably covers one yearfs recurrent expenditure. The Deslgnated Fund The year end balance of£47,492 comprises various committed balances and the designated Tenn16 Fund from which no expenditure was incurred. The purpose of this fund is to 'hold' funds for specific actwities and any unspent funds for ongoing projects are earmarked and carried foNard to the next year. The Arts, Fund The fund income for the year was £103,706 {2023 - £96.687). The overall deficit for the year was £3,318. This compared to a surplus of £9,825 for the previous year. The year end reserves sland at £29,775. Investment pollcy The ¢harity's investment policy 1$ determined by the Trustees and is that surplus cash should be held in readily accessible COIF deposit accounts that offer an aCpIable rate of interest. Trustees report for the year ended 31 March 2024 (Contd.)
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Reserves pollcy End of year surpluses afe added lo reserves until such time as the School requires financial support for a project. Trustees decide upon the level of support, taking account of both the needs of the School and the reseNes available. At the year end the trustees believe that the level of reserves carried forward is sufficient for future needs. At 31 March 2024, the charity held general funds of £78,897 (2023 - £98,134) and designated funds of £47,492 12023 - £47,244). Restricted fund balances at 31 March 2024 amounted to £29,775 {2023 £33,093). Grant4naking pollcy The Charity is solely dedicaled to supporting the activities of the School, in accordance with its stated aims. Risk management The Trustees have examined the major risks to which the charity is exposed and measures aro in pla to manage those risks as appropriate. Key risks that Ihe charity faces include.. Reduced income due to the effects of the current economic situab'on (parental donations, fund raising events etc.). This is managed by holding a suitable level of resetves and limiting recurring commitments on the Funds. Ensurlng the music tuilion provision breaks even in the light of increasing costs. This dget is carefully monitored to ensure the provision remains viable. Related party transa¢tlons t)etails of related party transactions are given In note 17 to the financial statements. Key managemont The trustees compTlSe th8 key management personnel of the charity in Charge of directing and controlling, running and operating the charty on a day to day basis. All trnstees give of their time freely and no trustee received any remuneratioll in Ihe year. Details of trustee's expenses and remuneration a disclosed in notes 8 and g lo the accounts. Appolntment of Trustees Governors ol the Davenant Foundalion School are automatically appointed as Trustees of the Reynolds (School Private) Fund, together with the Head Teacher. Deputy Head Teacher and Head of Performing Arts. The day lo day management of the charity is delegated to the Head Teacher, Mr A Thorne, the Héad of Performing Arts, Mrs R Tubb, and the Chief Financial Officer, Mrs J Beaumont. All Governors undertake an induction programme on appointment to familiarise themselves with the workings of the school and the charity. Further training is available from the Local Authority and the National Govemors, Association. as required.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2024(Contd.) Trustaes The following Trustees have held office during the year: Mrs A Allen Mr G Anthony Ms C Cantle Mrs A Crombie Rev. C Davies Mrs O Fatoye {until 22 January 2024> Mrs C Folkes Mr J Goldsworthy Mrs C H2nds Mr M Hicks (until 6 Juty 20231 Ms D Lee (until 26 April 2023) Mrs N Lee-Johnston Mrs D Lake Mrs D Nelson Mr D Prosser Mr H Smith Mrs S Temple Mr A Thorne Mrs R Tubb Foundation Governor Foundation Governor Foundation Governor Foundation Governor Foundation Governor Staff Govemor Foundation Govemor Communty Governor Community Governor Foundation Governor Parent Governor Foundation Governor Deputy Head Teacher Parent Governor Foundation Governor Foundation Governor Foundation Governor Head Teacher Head of Performing Arts statement of Trustees, fSnanclal responslbilities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance wtth applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to preparefinancial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparirvJ these financial statements, the Trustees are required to: select suitable accounting policps and apply them consistentty., observe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Slandard applicable to the United Kingdom and Republic of Ireland IFRS 102),. make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subj-ect to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to pres that Ihe charity will continue in operation. Trustees report for the year ended 31 March 2024{Contd.)
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND ststement of Trustees, flnancial responsibilities (¢ontinued> The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, applicable Charity (Financial Statemenls and Reports) Regulations and the provisions of the charity's trust deed. They are also responsible for safeguarding the assets ofthe charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Volunteers The Governors woukl like to rècord their thanks lo parents and friends of the sthool who have continued to support the school in many ways during the year. Approved by the Trustees on ..... tee stee
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Independent Examiner's Report to the Trustees of The Reynolds (School Private) Fund I report to the charity trustees on my examination of the accounts of the charrty for the year 31 March 2024. Responslbllities and basls of report As the Irustees of the Charity you are resrJ)nsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'}. I rep)rt in reSt of my examination of the ch2rty's accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)Ibl of the Act. Independent examlner's statement I have completed my examination. l Gonfirm that no material matters have come to my attention in connection with my examinalion giving me cause to believe that in any material respect.. accounting records were not kepl in respect of the charity as required by section 130 of the Act.. or Ihe accounts do not accord wth those records., or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports} Regulations 2008 other than any requirement Ihal Ihe accounts give a 'lrue and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come acro&8 no other matters in connection wrth the examination to whth attention should be drawn in this report In order to enable a proper understanding of the accounts to be reached. Mazo Hugh Swainson, FCA for Buzzacott LLP Chartered Accountants 130 Wood Street London, EC2V 6DL Date.. 17 July 2024
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND statement of financial activities for the year ended 31 March 2024 Unrgstrlcted funds Total funds 2024 Total funds 2023 Restrlctsd Dg$ignat8d funds funds General funds Notes Income from: Donations and legacies Other Iradlng aclivilie8 ProdLtclion income Bank deposit interest Charitable activities 72S 20 12,344 60,928 61,673 12,344 13.652 5,186 1.770 123.123 123,720 78,923 21.702 13,652 5,186 82 89,330 33.711 Total income 103,707 46.076 66,196 215.978 226,115 Expenditure on: Raising funds Trading expenses Production costs Charitable activities 3,500 3,500 2,000 9,594 7,671 2.795 514 222.397 201,291 9,594 2,795 104,229 36,232 81,936 Total expendlturfr 107.024 45,826 85,436 238,286 211,476 Net Incomellexpendlture) before transfers 13,3171 249 {19,2401 122,308) 14,639 Transfers tthen funds Net movement In funds for the year 13,3171 249 119,2401 122,3081 14,639 Reconclliation of funds: Fund balances brought forward at 1 April 2023 33.093 47,244 98.134 178,471 163,832 Fund balance5 carriod forward at 31 March 2024 14 29.776 47,493 78.894 156,163 178,471 N¢Me of the ch8rity's actbvilies was acquired or discontinued during the above iwo financial years and Iherewer& no re¢ognised gains tx l(6ses other than as shown above. The notes on pages 1110 21 fomi part of these financial statements.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Statement of financial activities for the year ended 31 March 2023 urtrIcted fund5 Total funds 2023 Restrlcted Deslgnated funds funds General funds Aloles Incom8 from.. Donations and legscies Other Ir8ding aclivilies 88nk deposit interest Charitable 8clivities 136 1Q,231 520 11,471 78,267 78.923 21,702 1.770 123,720 1,770 390 86,320 37.010 rotsl income 96.687 49,001 80.427 226,115 Expendlture on: Raising funds Tr8ding expenses Production ¢osts Chanlablg activilies iooo 7.671 514 201.291 7,671 514 86,348 50,401 64,542 Total expendlture 86.862 58,072 66,542 211,476 Net Yncome/(expendltura) before transfers 9.825 (9,OTq) 13,885 14,639 Trsnsffe he9 funds Netnvement In funds forthe year 9,825 (9.071) 13,885 14.639 Reconclllation of lunds.. Fundbalances bmughtft?nvard st l Apnl 2022 23.268 56,315 84,249 163.832 Fund balancos carried forward at 31 March 2023 14 33,093 47.244 98,134 178,471 None of the charity's activities was acquired or drdeonlinued during the above finon¢ial years and there were no recognised gains or losses other than as shown above. None of tho ChlS xtivilies was acquired or discontinued during the above tsvo finana81 year8 and there wer8 no recognised gains or losses clher than as shjwn above. The notes on pages 11 to 21 form part ofthese financial statements.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Balance sheet as at 31 March 2024 2024 2023 Notes Current assets: Stock Debtors Cash at bank and in hand 3,172 9,901 228,394 1,877 13,675 223.955 10 241,467 239,507 Llabllities: Creditors.. amounts falling due within one year 11 {85,304) 161,036) Net current assets 156.163 178,471 Total net assets 156,163 178,471 The funds of the Charity: Restrlcted Income funds Arts furKI 14 29,776 33,093 29,776 33,093 Unrestrlcted funds Designated Fund General Fund 14 14 47,493 78,894 47,244 98,134 Total funds 14 158.163 178,471 Approved by the Trustees and authorised for issue on behalf. and signed on their ee ee The notes on pages 11 to 21 fom part of these financial statements. 10
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024 Accountlng policies The principal accounting poli¢ies adopted, judgements and key S(rceS of estimation uncerlainty in the preparation of the accounts are laid out below. Basls of accounting These accounts have been prepared for the year to 31 March 2024. The aoUnts have been prepared under the historical cost convention with tiems recognised at cost or transaction value unless otherwise stated in the relevant accounting poIKies bek)w or the notes to these accounts. The accounts have been prepared in accofdance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their aGcounls in accordance with the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 1021 issued on 16 July 2014, the Financial Reporting Slandard applicabie in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The charfty constitutes a public benefrt entity as defined by FRS 102. The accounts are presentsd in sterfing and are roLmded to the nearest pound. b) Critical accountlng estimates and areas of judgement Preparation of the accounts requires the trustees to make SKJnffi¢ant iudgefflents and estimates. The items in the accounts where these judgemenls and eslimates have been made include.. estimating the liabilty for murti-year granl commitments,. and estimating the useful economic life of tangible fr% assets,. and The estimalion of future income and expenditure for the purposes of assessing going concern (see below). Assessment of golng ¢oncern The tnjstees have assessed whether the use of the going concern assumption Is appropriate in preparing these accounts. The tnjstees have made this assessment in resFxt lo a period of one year from the date of approval ofthese accounts. The trustees of ffte charity have concluded that there are no material uncgrtainlies related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concem. The trustees are of the opinion that the charity will have sufficient resources to meet its Ilabilities as they fall due.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024 (Contd.) Aceounllng policies Icontd.) d} Income recognition Income is recognised in the peric)d li which charity has entitlement to the income, it can be measured reliably and it is probable that the income will be recebved. The following specific policies apply to eategorles of income: Income received from parents, covenants is accounted fcf on an accruals basis. Donations and grants are accounted for on a receivable basis. Donations reIVed for the general purposes of the charity are included as unrestricted funds. Donations for activities restricted by thewishe8 of the donor aretaken to restricted funds where those shes are legally binding on the Trustees. Expenditure recognition All expendrture is included on an accruals basis. The charity is not registered forVAT and accordingly expenditure is shown gross of irrecoverable VAT. Certain expenditure is directly attributable to specific actwities and has been included in those cost categories. Vvhere costs cannot be directly attributed to spectfic activities, they have been allocated to activities on a basis consistent with the use of the resources. Fundraising and publicity expenditure comprises costs incurred by the fund in encouraging financial contributior6 to its activities. Grants are charged to the statement of financial activities when they are due for payment or when the charity has committed to make future payments Musical instruments are fully expended in the year of purchase. G0veMan costs are the costs assoclated with the governance arrangements of the charty which relate to the general running of the charity as opposed to those StS associated with fUndraIng or charitable activity. Support costs. iicluding govemance costs. comprise costs of general management. accounting and finance. Support costs are allocatsd as 65 % to charitable expendrture and 35 % lo costs of generating funds. being the estimated lime spent on each activity. School trlps Income and expenditure on School trips relates to lrips which have taken plac8 during the financial year, where the income and expenditure have been finally determined. Where trips are due to lake place in a future year. the expendilure relating to such trips has been included in prepayments and the income in deferred income. g) Stock stock comprises goods for resale and has been valued at the tower of cost and net realisable value. 12
DAVENANT FOUNDATION SCHOOL THE REYNOLDS {SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024 (Contd.) Accountlng pollcies (Contd.) h) Debtors Debtors are recognised at Iheir settlement amount, less any provision for non- reo)veralxlity. Prepayments ar6 valued at the amount prepaid. Provision is made for all Covenanted income lch is considered to be irrecoverable. Cash at bank and In hand Cash at bank and in hand represents such accounts and instrumenls that are available on demand or have a maturity of less than three months from the date of acquisition. J) Creditors and provlslons Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past evenl, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlemenl can be estimated reliably. Credilors and provisions are recognssed at the amount the charity anticipates it will pay to settle the debt. k) Fund accounting Funds held by the charity are.. Unrestricted fijnds - these are funds which can be used in aCrdar wth the charrty's 0.ecIs, at the discretion of the Board. D8slgnated funds - these are unrestricted funds set aside by the Board for particular purposes. Restricted funds- these are funds that are subject to special conditions imF4)sed by the donor, (K through the terms of an appeal. Taxatlon Tax refunds receivable on covenanted and Gift Aid donations are accounted for on an accruals basis. The Fund is a registered charity and accordingly is exempt from taxation on its incorne where it is applted for charitable purposes. 13
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the flnancial statements for the year ended 31 March 2024(Contd.) Donatlons and legacles Total funds 2024 Restrlcted Deslgnated funds funds Goneral fund Parental contributions (including lax reliefj Grants- Parents Asscciation Donations and gffts 59,016 69.016 724 1,912 2,656 Totsl funds 2024 724 20 60,928 fj1,672 ReslnGled DeSnled funds funds Gen@ral Total funds fund 2023 P8renlal contril)ubons {lUdIng tax r61ieO GRnls- Parents ASS0110n Donalions 8nd gifts 73.102 73.102 500 &321 136 20 5,165 Tolalfvnds 2023 136 520 78,267 78,923 Other tradlng activitles Total funds 2023 Restrlctgd Deslgnated funds funds General fund Trading income Production income 12.344 12.344 13.652 13,652 Totsl funds 2024 13.652 12.344 25,996 Rgslnc(ed Deslgnat8d runds funds General Total funds fvnd 2023 Trading incomg PftDductn inciwne It,471 11,471 10,231 10,231 Total funds 2023 10.231 71,471 21,702 14
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024(Contd.) Charitable actlvltles Total funds 2024 R•strlcted Deslgnated funds funds Gengral fund Income from school trips and other activities TuItic exam fees 700 88.630 33,711 82 34,493 88,630 Total funds 2024 89,330 33,711 82 123.123 Rest17cled Designated funds funds General Tot21 funds fund 2023 Income from scho(4 trips and other activities Tuition and 8x8m fees 37,010 390 37,400 86,320 86,32Q Tol81 fundg 2023 8&320 37,010 390 123, T20 Expenditure on ralslng funds Total funds 2024 Restrlcted Deslgnated funds funds General lund Saler$ Other Trading èxpenses Productions costs 3,500 3.500 9.594 9.S94 2,795 2.795 Total funds 2024 2,795 9,594 3,500 15.889 R88lricted Designated funds nds General Total funds fund 2023 Salariès oth8r Trdding expenses PrlucIN0nS wsls 3,5tXI (1,50Q) (1,500) 7, 671 5t4 7,671 514 Total funds 2023 514 7,67t 10,185 15
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024(Contd.) Expenditure on charitable actlvltles Total funds 2024 Restrlcted Deslgnated funds funds General fund School trips and other activities Tuition and exam fees Musical instruments, costs at)d repairs Gifts and donations Contribution to school's projects Salaries and administration costs 212 84.607 21,931 12,401 34544 84,607 424 7,418 6,211 672 117 55,249 14,169 7,535 64.232 31,055 2,772 16.214 Totsl funds 2024 104229 36,232 81.936 222,397 Restiycted Designaled funds funds General Total funds und 2023 School thps and olheractivities Tuitn and exam Ye8S muSal inslrumenls, costs and r8pairs Gifts and donath)ns Contribut to school's projects S8181i6s and administration costs 16 74.599 33,119 It,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 Tol81 funds 2023 86.348 50,401 64.542 201.291 The charty do8s ncl have any employees. Solary costs reLpte to peripatetic mu8iC Staff and adminislratKJn and ore recharged lo the charity by Davenant Foundation Schojl. Salaries ?nd admini8tralion costs may be an8ty8ed as folk)ws'. Total fund$ 2024 Rostricted Deslgnatod funds lunds General fund Administration and Salary cost Parent pay exp8nses Sundry Govem8nc8 costs (note 7) 13,800 1,613 151 650 8.326 22.126 2.285 1,601 5,043 672 1,450 4,393 16.214 672 14,169 31,055 16
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024(Contd. Costs of chaiitsble actlvlties (continued) RestiictQLI Designalod fvnds funds Gen&r81 Total funds fvnd 2023 Administration and salary Gost Parenlpay 8xpenses Sundry GovemanGe Gosts (note 7) 8,800 1,326 31 7.228 16.028 1,983 2,568 4.716 658 2.537 4,216 10.656 658 13.981 25,295 Governance Total funds 2023 Restrlcted D8slgnatod funds funds Genèral fund Independent examiner's fees Trustee's indemnity insurance 650 2.002 2,391 2,652 2.391 4.393 5,043 Reslric18d Designated funds funds General Total fvnds fund 2023 Indep8ndent ex2minerfs f8es Trustee's indemnity Insrjrance 1,830 2386 2,330 2,386 4,216 4,716 Stsff costs and romuneratlon of key management personnel The charity employed no staff during the year (2023 - none}. The key management personnel of the tharity in charge of directing and controlling the charity comprise the trustees. The total remuneration Ilncluding taxable benefits and employer's pension contributs'ons) of the key management persollnel for the year was £nil {2023- £nil). 17
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024(Contd.) Trustees The Trustees re¢eived no remuneration during th8 year and no reimbursement for expenses (2023- £nil) During the year, the charity paid £2,391 (2023- £2,386) for Trustse's indemnty insurance. 10. Debtors 2024 2023 Tax recoverable Other debtors Prepayments 7,074 1,117 1,710 9,752 1,526 2,397 9,901 13.675 11. Creditors: amounts falllng due within one year 2024 2023 Advance receipts for trips and other activitS (note 12) Other creditors and accruals Deferred income (note 13} 29.466 17.936 37,902 12,417 16,825 31,794 85,304 61,036 12. Advance recelpts for trips and other activltles 2023 Balance al 1 April 2023 Advance receipts received during the year Released lo statement of financial activities 12A17 29,466 112A171 Balance al 31 March 2024 29.466 2023 Balance al 1 Apnl 2022 Advance rec8lPts r8C8ived during the ye6r R8leased to stetement of financial 8ctivities 8,556 t2.417 (¢556) Balance at 31 Mah 2023 12,41T 18
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024(Contd.) 13. t)eferred Income 2023 Balance al 1 April 2023 Advance receipts reiVed during the year Released lo statement of financial athities 31,794 37,902 131,7941 Balance at 31 March 2024 37,902 2023 Balance al l Apnl 2021 R8c&ived during the year R81&8sed lo slatemerpl of financi81 activitieÈ 40.118 31,794 {40. 118) Balanc8 at 31 March 2023 31,794 14. Funds BalanGe ai31 March 2024 Balance at 1 Aprll 2023 Income Expenditure Transfer¥ Restrlcted Funds Arts Fund Total Restrictsd Funds 33,093 33.093 103.707 103,707 1107,024) {107.0241 29.776 29,776 Designated Funds Tennis Fund Awards Fund Parents Association School Trips and Activities Fund 19,722 1,150 19,722 1.170 26.372 46,OS5 {45,8261 26.601 Total D8slgnated Funds 47,244 46,075 145,826) 47,493 General Fund 98,134 66,196 185.4361 78,894 Total Unrestricted Funds 145,378 112.271 1131,2621 126.387 Total Funds 178,471 215,978 {238,286) 156,163 The nature and purpose of each fund is explained in the Trustees, report. 19
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024(Contd.) 14. Funds Icontinuedl Balanco at31 March 2023 Balance at 1 Apnl 2022 InGorne ExPditU Transfers Resfncled Funds Arts Fund Total R8slricted Funds 23,268 23,268 96,687 96,687 (86.862) {86.862) 33,093 33.093 Designated Funds Tenn Fund Awards Fund Parents Associ8tk)n schl Trips and AC1rAlleS Fund 19, 722 1, 160 19, 722 t, 150 2Q (30) 433 48,981 (58,042) 26,372 Total Designated Funds 56,315 49.001 {58,072) 47,244 General Fund 84.249 80,427 (66.542) 98. 134 Total Unresti7cled Funds t40.4 129,428 124, 614) 145,378 Total Funds 163,832 226, 115 {211,476J 178,471 15. Analys1$ of net assets between the funds Restricted Deslgnat8d Unr8strlcted funds fund8 fund 2024 Totsl Current assets Current liabilities 61,417 131,6421 87,688 {40,1971 92,362 113,4651 241.487 (85,304> At 31 March 2024 29,775 47,491 78,897 156,163 Reslric(8d Design8ted Unrestricted funds runds fund 2023 Total Current assets Current liabilil 52,496 t9.403J 83,323 (36,079) 103,688 5,554) 239, 507 {61,036) At 31 March 2023 33,093 47,244 98,134 178,471 20
DAVENANT FOUNDATION SCHOOL THE REYNOLDS ISCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2024{Contd.) 16. Control The charity is controlled by the Trustees. 17. Related party transactionss During the year, the Charity made grants and donations amounting to £64,23312023 - £47.971) to Davenant Foundation School. During the year, the charity was recharged salary costs relating to peripatetic music staff amounting to £83,583 {2023 - £74,225) and administration amounting to £8,800 (2023 - £8,800). In addrt*)n, there are various payments, which although they are not made directly to the school, are of nefit to the school. for example coach transport costs. 21