2025-03-31-accounts - Davenant Foundation The Reynolds School Private Fund

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Charity Commission Number: 292223

DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Financial statements for the year ended 31 March 2025

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

REGISTERED OFFICE:

Davenant Foundation School Chester Road Loughton Essex IG10 2LD

BANKERS:

Lloyds plc 11 The Broadway Loughton Essex IG10 3SW

INVESTMENT MANAGERS:

COIF Charity Funds CCLA Investment Management Limited 1 Angel Lane London EC4R 3AB

SOLICITORS:

Winckworth Sherwood LLP Minerva House 5 Montague Close London SE1 9BB

INDEPENDENT EXAMINER:

Hugh Swainson FCA Buzzacott Audit LLP 130 Wood Street 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

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees’ report for the year ended 31 March 2025

The Trustees present their report and the financial statements for the year ended 31 March 2025

The financial statements have been prepared in accordance with the accounting policies set out on pages 11 to 13 of the attached accounts and comply with 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. It 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 the charity of a requirement for statutory audit of its financial statements.

Public Benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning future activities.

Aims and objectives

The principal activity of the charity during the year continued to be the advancement of the education 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:

1. The General Fund

This fund is used to provide resources not met from public funding. 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 its 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 respect of school activities and trips (although most trips are now run via the academy accounts). Any small surpluses or deficits are transferred to 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 development of the tennis courts.

Principal policies to achieve objects

To encourage and increase regular committed and other giving by parents and friends of the School.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Trustees report for the year ended 31 March 2025 (Contd.)

Progress and achievements

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 running trips and activities
Minibus
Extra-curricular sports activities and transport; and
Duke of Edinburgh Award.

From the Arts’ fund:

Peripatetic music tuition; and
Maintenance and purchase of musical instruments.

Review of financial activities

General Unrestricted Funds

The fund income for the year was £58,906 (2024 - £66,196). Parental contributions were £50,293, compared with £59,016 in 2024.

The overall deficit for the year was £17,276. This compared to a deficit of £19,240 for the previous year. This was planned in the light of high reserves.

The year end reserves stand at £61,618 which covers one year’s recurrent expenditure.

The Designated Fund

The year end balance of £51,853 comprises various committed balances and the designated Tennis Fund from which no expenditure was incurred. The purpose of this fund is to ‘hold’ funds for specific activities and any unspent funds for ongoing projects are earmarked and carried forward to the next year.

The Arts’ Fund

The fund income for the year was £117,593 (2024 - £103,707). The overall deficit for the year was £1,831. This compared to a deficit of £3,317 for the previous year.

The year end reserves stand at £27,945.

Investment policy

The charity’s investment policy is determined by the Trustees and is that surplus cash should be held in readily accessible COIF deposit accounts that offer an acceptable rate of interest.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2025 (Contd.)

Reserves policy

End of year surpluses are added to 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 reserves available. At the year end the trustees believe that the level of reserves carried forward is sufficient for future needs.

At 31 March 2025, the charity held general funds of £61,618 (2024 - £78,894) and designated funds of £51,853 (2024 - £47,493). Restricted fund balances at 31 March 2025 amounted to £27,945 (2024 £29,776).

Grant-making policy

The Charity is solely dedicated 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 are in place to manage those risks as appropriate.

Key risks that the charity faces include:

Reduced income due to the effects of the current economic situation (parental donations, fund raising events etc.). This is managed by holding a suitable level of reserves and limiting recurring commitments on the Funds.
Ensuring the music tuition provision breaks even in the light of increasing costs. This budget is carefully monitored to ensure the provision remains viable.

Related party transactions

Details of related party transactions are given in note 17 to the financial statements.

Key management

The trustees comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee received any remuneration in the year. Details of trustees’ expenses and remuneration are disclosed in notes 8 and 9 to the accounts.

Appointment of Trustees

Governors of the Davenant Foundation School are automatically appointed as Trustees of the Reynolds (School Private) Fund, together with the Head Teacher, Deputy Head Teachers and Head of Performing Arts. The day to day management of the charity is delegated to the Head Teacher, Mr A Thorne, the Head of Performing Arts, Mrs S Flanagan, 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 Governors’ Association, as required.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2025(Contd.)

Trustees

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 J Dennison (from 1 September 2024) Mrs S Flanagan (from 1 September 2024) Mrs C Folkes Mr J Goldsworthy Mrs C Hands Mrs N Lee-Johnston Mrs D Lake (until 31 August 2024) Ms S McVittie (from 1 September 2024) Mrs D Nelson Mr D Prosser Mr H Smith Mrs S Temple Mr A Thorne Mrs R Tubb (until 31 August 2024)

Foundation Governor Foundation Governor Foundation Governor Foundation Governor Foundation Governor Deputy Head Teacher Head of Performing Arts Foundation Governor Community Governor Community Governor Foundation Governor Deputy Head Teacher Deputy Head Teacher Parent Governor Foundation Governor Foundation Governor Foundation Governor Head Teacher Head of Performing Arts

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with 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 prepare financial 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 preparing these financial statements, the Trustees are required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2025 (Contd.)

Statement of Trustees’ financial responsibilities (continued)

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 Statements and Reports) Regulations and the provisions of the charity’s trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Volunteers

The Governors would like to record their thanks to parents and friends of the school who have continued to support the school in many ways during the year.

Approved by the Trustees on 16 July 2025 and signed on their behalf by:

Nyree Lee-Johnston Glynne Anthony

Trustee 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 the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with 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 that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Hugh Swainson, FCA for Buzzacott Audit LLP Chartered Accountants 130 Wood Street London, EC2V 6DL

Date: 04 August 2025

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Statement of financial activities for the year ended 31 March 2025

Notes	Restricted funds £	Unrestricted funds	Unrestricted funds	Total funds 2025 £	Total funds 2024 £
		Designated funds £	General funds £
Income from: Donations and legacies 2 Other trading activities 3 Production income 3 Bank deposit interest Charitable activities 4 Total income Expenditure on: Raising funds 5 Trading expenses Production costs Charitable activities 6 Total expenditure Net income/(expenditure) before transfers Transfers between funds Net movement in funds for the year Reconciliation of funds: Fund balances brought forward at 1 April 2024 Fund balances carried forward at 31 March 2025 14	5,737 205 15,460 — 96,191	4,838 10,015 — — 38,210	53,232 — — 5,408 266	63,807 10,220 15,460 5,408 134,667	61,673 12,344 13,652 5,186 123,123
	117,593	53,063	58,906	229,562	215,978
	— — 4,068 115,356	— 9,601 — 39,102	3,500 — — 72,682	3,500 9,601 4,068 227,140	3,500 9,594 2,795 222,397
	119,424	48,703	76,182	244,309	238,286
	(1,831) —	4,360 —	(17,276) —	(14,747) —	(22,308) —
	(1,831) 29,776	4,360 47,493	(17,276) 78,894	(14,747) 156,163	(22,308) 178,471
	27,945	51,853	61,618	141,416	156,163

None of the charity's activities was acquired or discontinued during the above two financial years and there were no recognised gains or losses other than as shown above.

The notes on pages 11 to 21 form part of these financial statements.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Statement of financial activities for the year ended 31 March 2024

Notes	Restricted funds £	Unrestricted funds	Unrestricted funds	Total funds 2024 £
		Designated funds £	General funds £
Income from: Donations and legacies 2 Other trading activities 3 Production income 3 Bank deposit interest Charitable activities 4 Total income Expenditure on: Raising funds 5 Trading expenses Production costs Charitable activities 6 Total expenditure Net income/(expenditure) before transfers Transfers between funds Net movement in funds for the year Reconciliation of funds: Fund balances brought forward at 1 April 2023 Fund balances carried forward at 31 March 2024 14	725 — 13,652 — 89,330	20 12,344 — — 33,711	60,928 — — 5,186 82	61,673 12,344 13,652 5,186 123,123
	103,707	46,075	66,196	215,978
	— — 2,795 104,229	— 9,594 — 36,232	3,500 — — 81,936	3,500 9,594 2,795 222,397
	107,024	45,826	85,436	238,286
	(3,317) —	249 —	(19,240) —	(22,308) —
	(3,317) 33,093	249 47,244	(19,240) 98,134	(22,308) 178,471
	29,776	47,493	78,894	156,163

None of the charity's activities was acquired or discontinued during the above two financial years and there were no recognised gains or losses other than as shown above.

The notes on pages 11 to 21 form part of these financial statements.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Balance sheet as at 31 March 2025

Balance sheet as at 31 March 2025
Notes	2025 £	2024 £
Current assets: Stock Debtors 10 Cash at bank and in hand Liabilities: Creditors: amounts falling due within one year 11 Net current assets Total net assets The funds of the charity: Restricted income funds Arts fund 14 Unrestricted funds Designated Fund 14 General Fund 14 Total funds 14	2,511 11,033 185,282	3,172 9,901 228,394
	198,826 (57,410) 141,416	241,467 (85,304) 156,163
	141,416	156,163
	27,946	29,776
	27,946 51,854 61,617	29,776 47,493 78,894
	141,416	156,163

Approved by the Trustees and authorised for issue on 16 July 2025 and signed on their behalf.

Nyree Lee-Johnston Glynne Anthony Trustee Trustee

The notes on pages 11 to 21 form part of these financial statements.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Notes to the financial statements for the year ended 31 March 2025

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

a) Basis of accounting

These accounts have been prepared for the year to 31 March 2025.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with 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) (Charities SORP FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

b) Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

estimating the liability for multi-year grant commitments; and
estimating the useful economic life of tangible fixed assets; and
The estimation of future income and expenditure for the purposes of assessing going concern (see below).

c) Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2025 (Contd.)

1. Accounting policies (Contd.)

d) Income recognition

Income is recognised in the period in which charity has entitlement to the income, it can be measured reliably and it is probable that the income will be received. The following specific policies apply to categories of income:

Income received from parents’ covenants is accounted for on an accruals basis.
Donations and grants are accounted for on a receivable basis. Donations received for the general purposes of the charity are included as unrestricted funds. Donations for activities restricted by the wishes of the donor are taken to restricted funds where those wishes are legally binding on the Trustees.

e)

Expenditure recognition

All expenditure is included on an accruals basis. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.

Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Where costs cannot be directly attributed to specific 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 contributions 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.

Governance costs are the costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity.

Support costs, including governance costs, comprise costs of general management, accounting and finance. Support costs are allocated as 65% to charitable expenditure and 35% to costs of generating funds, being the estimated time spent on each activity.

f)

School trips

Income and expenditure on School trips relates to trips which have taken place during the financial year, where the income and expenditure have been finally determined. Where trips are due to take place in a future year, the expenditure 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 lower of cost and net realisable value.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2025 (Contd.)

1. Accounting policies (Contd.)

h) Debtors

Debtors are recognised at their settlement amount, less any provision for nonrecoverability. Prepayments are valued at the amount prepaid.

Provision is made for all covenanted income which is considered to be irrecoverable.

i) Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

j) Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

k) Fund accounting

Funds held by the charity are:

Unrestricted funds - these are funds which can be used in accordance with the charity's objects, at the discretion of the Board. Designated funds - these are unrestricted funds set aside by the Board for particular purposes. Restricted funds - these are funds that are subject to special conditions imposed by the donor, or through the terms of an appeal.

l) Taxation

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 income where it is applied for charitable purposes.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Notes to the financial statements for the year ended 31 March 2025(Contd.)

2. Donations and legacies

	Restricted funds	Designated funds £	General fund £	Total funds 2025 £
	£
Parental contributions (including tax relief) Grants - Parents Association Donations and gifts Total funds 2025	- - 5,737	- - 4,838	50,293 - 2,939	50,293 - 13,514
	5,737	4,838	53,232	63,807
	Restricted funds	Designated funds £	General fund £	Total funds 2024 £
	£
Parental contributions (including tax relief) Grants - Parents Association Donations and gifts Total funds 2024	— — 724	— — 20	59,016 — 1,912	59,016 — 2,656
	724	20	60,928	61,672

3. Other trading activities

	Restricted funds	Designated funds £	General fund £	Total funds 2025 £
	£
Trading income Production income Total funds 2025	205 15,460	10,015 -	- -	10,220 15,460
	15,665	10,015	-	25,680
	Restricted funds £	Designated funds £	General fund £	Total funds 2024 £
Trading income Production income Total funds 2024	— 13,652	12,344 —	— —	12,344 13,652
	13,652	12,344	—	25,996

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Notes to the financial statements for the year ended 31 March 2025(Contd.)

4. Charitable activities

	Restricted funds	Designated funds £	General fund £	Total funds 2025 £
	£
Income from school trips and other activities Tuition and exam fees Total funds 2025	— 96,191	38,210 —	266 —	38,476 96,191
	96,191	38,210	266	134,667
	Restricted funds	Designated funds £	General fund £	Total funds 2024 £
	£
Income from school trips and other activities Tuition and exam fees Total funds 2024	700 88,630	33,711 —	82 —	34,493 88,630
	89,330	33,711	82	123,123

5. Expenditure on raising funds

	Restricted funds	Designated funds £	General fund £	Total funds 2025 £
	£
Salaries Trading expenses Productions costs Total funds 2025	— — 4,068	— 9,601 —	3,500 — —	3,500 9,601 4,068
	4,066	9,601	3,500	17,169
	Restricted funds	Designated funds £	General fund £	Total funds 2024 £
	£
Salaries Trading expenses Productions costs Total funds 2024	— — 2,795	— 9,594 —	3,500 — —	3,500 9,594 2,795
	2,795	9,594	3,500	15,889

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2025(Contd.)

6. Expenditure on charitable activities

	Restricted funds	Designated funds £	General fund £	Total funds 2025 £
	£
School trips and other activities Tuition and exam fees Musical instruments’ costs and repairs Gifts and donations Contribution to school’s projects Salaries and administration costs Total funds 2025	— 92,708 3,887 — 2,316 16,445	21,366 — — 6,291 10,604 841	11,967 — — 230 47,295 13,190	33,333 92,708 3,887 6,521 60,215 30,476
	115,356	39,102	72,682	227,140
	Restricted funds £	Designated funds £	General fund £	Total funds 2024 £
School trips and other activities Tuition and exam fees Musical instruments’ costs and repairs Gifts and donations Contribution to school’s projects Salaries and administration costs Total funds 2024	212 84,607 424 — 2,772 16,214	21,931 — — 7,418 6,211 672	12,401 — — 117 55,249 14,169	34,544 84,607 424 7,535 64,232 31,055
	104,229	36,232	81,936	222,397

The charity does not have any employees. Salary costs relate to peripatetic music staff and administration and are recharged to the charity by Davenant Foundation School.

Salaries and administration costs may be analysed as follows:

	Restricted funds	Designated funds £	General fund £	Total funds 2025 £
	£
Administration and salary cost Parent pay expenses Sundry Governance costs (note 7)	13,790 1,524 481 650	— 816 25 —	8,502 — 378 4,311	22,292 2,340 884 4,961
	16,445	841	13,191	30,477

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Notes to the financial statements for the year ended 31 March 2025(Contd.)

6. Costs of charitable activities (continued)

	Restricted funds	Designated funds £	General fund £	Total funds 2024 £
	£
Administration and salary cost Parent pay expenses Sundry Governance costs (note 7)	13,800 1,613 151 650	— 672 — —	8,326 — 1,450 4,393	22,126 2,285 1,601 5,043
	16,214	672	14,169	31,055

7. Governance

	Restricted funds	Designated funds £	General fund £	Total funds 2025 £
	£
Independent examiner’s fees Trustee’s indemnity insurance	650 —	— —	1,920 2,391	2,570 2,391
	650	—	4,311	4,961
	Restricted funds	Designated funds £	General fund £	Total funds 2024 £
	£
Independent examiner’s fees Trustee’s indemnity insurance	650 —	— —	2,002 2,391	2,652 2,391
	650	—	4,393	5,043

8. Staff costs and remuneration of key management personnel

The charity employed no staff during the year (2024 - none).

The key management personnel of the charity in charge of directing and controlling the charity comprise the trustees.

The total remuneration (including taxable benefits and employer’s pension contributions) of the key management personnel for the year was £nil (2024 - £nil).

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2025(Contd.)

9. Trustees

The Trustees received no remuneration during the year and no reimbursement for expenses (2024 - £nil)

During the year, the charity paid £2,391 (2024 - £2,391) for Trustee’s indemnity insurance.

10. Debtors

	2025	2024 £
	£
Tax recoverable Other debtors Prepayments	5,346 919 4,768	7,074 1,117 1,710
	11,033	9,901

11. Creditors: amounts falling due within one year

	2025	2024 £
	£
Advance receipts for trips and other activities (note 12) Other creditors and accruals Deferred income (note 13)	- 23,548 33,862	29,466 17,936 37,902
	57,410	85,304

12. Advance receipts for trips and other activities

	2025
	£
Balance at 1 April 2024 Advance receipts received during the year Released to statement of financial activities Balance at 31 March 2025	29,466 - (29,466)
	-
	2024
	£
Balance at 1 April 2023 Advance receipts received during the year Released to statement of financial activities Balance at 31 March 2024	12,417 29,466 (12,417)
	29,466

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2025(Contd.)

13. Deferred income

	2025 £
Balance at 1 April 2024 Advance receipts received during the year Released to statement of financial activities Balance at 31 March 2025	37,902 33,862 (37,902)
	33,862
	2024
	£
Balance at 1 April 2023 Received during the year Released to statement of financial activities Balance at 31 March 2024	31,794 37,902 (31,794)
	37,902

14. Funds

	Balance at 1 April 2024 £	Income £	Expenditure £	Balance at 31 March 2025 £
Restricted Funds Arts Fund Total Restricted Funds Designated Funds Tennis Fund Awards Fund School Trips and Activities Fund Total Designated Funds General Fund Total Unrestricted Funds Total Funds	29,776	117,592	(119,422)	27,946
	29,776	117,592	(119,422)	27,946
	19,722 1,170 26,601	- 20 53,043	- - (48,702)	19,722 1,190 30,942
	47,493 78,894	53,063 58,905	(48,702) (76,183)	51,854 61,616
	126,387	111,968	(124,885)	113,470

	156,163	229,560	(244,307)	141,416

The nature and purpose of each fund is explained in the Trustees’ report.

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2025(Contd.)

14. Funds (continued)

	Balance at 1 April 2023 £	Balance at 31 March 2024 £
Restricted Funds Arts Fund Total Restricted Funds Designated Funds Tennis Fund Awards Fund Parents Association School Trips and Activities Fund Total Designated Funds General Fund Total Unrestricted Funds Total Funds	33,093	29,776
	33,093	29,776
	19,722 1,150 — 26,372	19,722 1,170 — 26,601
	47,244 98,134	47,493 78,894
	145,378	126,387

	178,471	156,163

15. Analysis of net assets between the funds

	Restricted funds £ 44,870 (16,924) 27,946 Restricted funds £ 61,417 (31,642) 29,775	Designated funds £	Unrestricted fund £ 61,618 61,618 Unrestricted fund £ 92,362 (13,465) 78,897	2025 Total £ 198,826 (57,410) 141,416 2024 Total £ 241,467 (85,304) 156,163

Current assets Current liabilities At 31 March 2025		92,339 (40,485)
		51,854
		Designated funds £
Current assets Current liabilities At 31 March 2024		87,688 (40,197)
		47,491

DAVENANT FOUNDATION SCHOOL

THE REYNOLDS (SCHOOL PRIVATE) FUND

Notes to the financial statements for the year ended 31 March 2025(Contd.)

16. Control

The charity is controlled by the Trustees.

17. Related party transactions

During the year, the Charity made grants and donations amounting to £60,215 (2024 - £64,233) to Davenant Foundation School. During the year, the charity was recharged salary costs relating to peripatetic music staff amounting to £90,343 (2024 - £83,583) and administration amounting to £8,800 (2024 - £8,800). In addition, there are various payments, which although they are not made directly to the school, are of benefit to the school, for example coach transport costs.