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2024-07-31-accounts

KINGS SCHOOL ASSOCIATION

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

31 JULY 2024

Registered Charity No: 295108

KINGS SCHOOL ASSOCIATION

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

For the year ended 31 July 2024

CONTENTS

Page
Legal and Administrative Information 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Accounts 5 - 8

KINGS SCHOOL ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

For the year ended 31 July 2024

Charity name: Kings School Association
Registered charity number: 295108
The Charity is governed by a constitution dated 16
October 1985, amended October 1993.
Management Committee: The policy and general management of the affairs
of the charity are directed by an elected Management
Committee.
Trustees: Claire Burley
Elena Maguire
Aims and Objectives: To provide and assist in the provision of facilities
for education at the school, to foster more extended
relationships between the staff, parents and others
associated with the school and to engage in activities
which support the school and advance the education
of the pupils attending it.

1

KINGS SCHOOL ASSOCIATION

INDEPENDENT EXAMINER'S REPORT

For the year ended 31 July 2024

I report on the accounts of the trust for the year ended 31 July 2024 as set out on pages 3 to 8.

Respective responsibilities of trustees and reporting accountants

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 43 (2) of the Charities Act 1993 (the 1993 Act as amended by the Charities Act 2006)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with our examination, no matter has come to my attention:

have not been met: or

Mark Wolverson BA (Hons) ACA

Date…………………………

KINGS SCHOOL ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 July 2024

Note
Income and expenditure
Donations, legacies and similar incoming resources
Incoming resources from operating activities;
activities for generating funds
Investment income
Total incoming resources
5
Resources expended
Direct charitable expenditure
Donations to Kings School
11
Direct charitable costs
6
Management & administration of the charity
7
Total resources expended
Net incoming / (outgoing)
resources for the year
2
Transfers between funds
Balances brought forward
Balances carried forward
9		 Unrestricted
Restricted
Total Funds
Total Funds
Funds
Fund
2024
2023
£
£
£
1,302
-
1,302
2,116
28,251
-
28,251
21,093
-
-
-
-
29,553
-
29,553
23,209
5,591
-
5,591
2,269
17,566
-
17,566
19,002
179
-
179
330
23,336
-
23,336
21,601
6,217
-
6,217
1,608
-
-
-
-
32,913
-
32,913
31,305
39,130
-
39,130
32,913
Note
Current assets
Debtors
3
Stock
Cash in bank
Cash in hand
Current liabilities
Creditors falling due within one year
4
Net current assets
Net assets
Represented by Funds
Unrestricted funds
9
Restricted funds
10		 2024
£
£
1,436
379
37,315
-
39,130
-
39,130
39,130
39,130
-
39,130		 2023
£
£
-
519
32,394
0
32,913
-
32,913
32,913
32,913
-
32,913		 2023
£
£
-
519
32,394
0
32,913
-
32,913
32,913
32,913
-
32,913
39,130
-		 32,913
-
32,913
32,913
-
32,913

The Trustees have acknowledged their responsibilities for preparing accounts which give a true and fair view of the charity's activities for the year then ended in accordance with applicable accounting standards and the Charities Accounting Statement of Recommended Practice (SORP).

The accounts on pages 3 to 8 were approved by, and signed on behalf of the trustees on

.......................................... Chair person

4

KINGS SCHOOL ASSOCIATION

NOTES ON ACCOUNTS

For the year ended 31 July 2024

1 Accounting Policies

The financial statements have been prepared under the historical cost convention. The accounts are in accordance with applicable accounting standards, the Charities SORP 2005 (Accounting and Reporting by Charities) and comply with the Charities (Accounts and Reports) Regulations 2005 issued under the Charities Act 1993

Fund Accounting

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.

Incoming Resources

All income is fully recognised in the year in which it is received.

Resources Expended

Resources expended are recognised in the period in which they are incurred. Resources expended are allocated to the particular activity where the cost relates directly to that activity.

Investment Income

Investment income consists of bank interest.

2 Net incoming/(outgoing) resources 2024 2023 £ £ Net incoming/(outgoing) resources are stated after charging: Chairman's expenses - -

KINGS SCHOOL ASSOCIATION

NOTES TO THE ACCOUNTS

For the year ended 31 July 2024

3 Debtors
Amounts falling due within one year
Sum up payments due to be received
4 Creditors
Amounts falling due within one year
Sundry Creditors and Accruals		 2024
£
1,436
1,436
2024
£
-
-		 2023
£
-
-
2023
£
-
-

KINGS SCHOOL ASSOCIATION

NOTES TO THE ACCOUNTS

For the year ended 31 July 2024

5 Income
Specific donations
Supporting school events
Summer fayre
Comedy night
School production
Quiz night
6 Direct charitable costs
Specific donations
Supporting school events
Summer fayre
Comedy night
School production
Quiz night
7 Administration Expenses
NCPTA Membership
Sundry		 Unrestricted
Fund
£
1,303
1,656
11,433
5,467
9,694
-
29,553
-
2,254
1,857
3,761
9,694
-
17,566
153
26
179		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
1,303
1,656
11,433
5,467
9,694
-
29,553
-
2,254
1,857
3,761
9,694
-
17,566
153
26
179		 Total
2023
£
2,116
1,287
4,207
4,922
8,717
1,960
23,209
1,120
1,396
1,827
4,022
8,717
1,920
19,002
140
190
330

KINGS SCHOOL ASSOCIATION

NOTES TO THE ACCOUNTS

For the year ended 31 July 2024

8 Staff costs

The Kings School Association is operated on a trustee basis. No members of the management committee or any person connected with them has received or is due to receive any remuneration for the year directly or indirectly from the Charity's funds. The trustees, and members of the executive management committee are reimbursed incidental travel expenses at the discretion of the charity. The amounts paid are not significant to the charity.

9 Analysis of funds

Balance at 31 July 2023
Net incoming/(outgoing) resources
Transfers between funds
Balance at 31 July 2024
Represented by:
Net current assets		 Unrestricted
Funds
£
32,913
6,217
-
39,130
32,913
32,913		 Restricted
Funds
£
-
-
-
-
-
-		 Total
Funds
£
32,913
6,217
-
39,130
32,913
32,913

10 Restricted Funds

There were no restricted funds at 31 July 2024 nor at 31 July 2023.

11 Donations to Kings School

The donations to Kings School in the year represented £,591 (2023: £2,269) of unrestricted funds and £0 (2023: £0) of restricted funds.