**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|
1
## **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.
2
## **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.
3
## **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.
4
## **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.
5
## **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
6
## **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
7
## **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.
8
**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.
9
## **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.
10
## **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.
11
## **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.
12
## **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.
13
**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_|
14
**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_|
15
## **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**|
16
**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).
17
## **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_|
18
## **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.
19
## **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_
_£_|_Income_
_£_
_103,707_
_103,707_
_—_
_20_
_—_
_46,055_
_46,075_
_66,196_
_112,271_
_215,978_|_Expenditure_
_£_
_(107,024)_
_(107,024)_
_—_
_—_
_—_
_(45,826)_
_(45,826)_
_(85,436)_
_(131,262)_
_(238,286)_|_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_|||
20
## **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.
21