THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST REPORT AND FINAPICL4L STATEhqEf4TS FOR THE YEAR ENDED 30 JUNE 2023 Charity Regi$tration Number: 296273 THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 CONTENTS Page Reference and administraiive derails Trubtees, report Independent audilor's iepoil Stalemenl of finiiIiLial activities Balance shee( Notes lo the financial sluleinents 9-15 THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 311 JUNE 2023 Tru¥t¢¢* F R Abbott (re%igned 10106121) R % Milnc CF$￿tt M Jaigirder L Fox (appointed 28109123} R O'QTr#dy l#pEx)inied 281(W121) M RussLII Secretary Principal address F.manuLI %¢hnol Ballcrsca Rise London swii Iiis Charity r¢gi$tration numb¢r 296273 Ind¢p¢ndcnt Auditor Haysmacintyre LLP 10 Qucen Strect Place London EC4R IAG Principal hankers Naiii)rtal Wc%lminster Bank plc POBOX 1357 169 ViLloria Streel London SWIE 5BT Investment m¥4nager5 Schrode15 Inveslrnents Limited 11 GTC5ham Stieel London F.C2V 7QA CCl.A Senaloi House Lolldon F.C4V 41-.T THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 311 JUNE 2023 I'he ¢rusiees present their statutory repon with the accounts, of 'l'he Emanuel School tieneral Lharitable Irust for the year ended 30 June 2027. Thc accounts havc bccn prcparcd in accordancc ￿.]lh thc accoiinling policic% scl out on pagc 9 (0 10 of the altschcd accoiints and ¢omply with tlie cliariry's trust dLLd, thc CharitiLs A¢t 2011 and A¢¢oun¢ing and RLportiiig by Charitics.. SiaiLmLnt of ReLomm £4.3.303 comparcd to lo￿$¢￿ of £2.37,202 in the prcceding ycar. Net incomc for thc ycar, thLrcfore, amountcd to £178.369 coinparcd to ncl CXPLnditurc of Ll 39,6_33 in 2022. Restricted funds Re%lricled dc)nati()n.% i)f £IC)C),14112022 £102,875) were reLtived during the year in order li) inLrea%e the fiinds available for peciljc biir%arie% and capital pr(>ject%. Re%triLtLd liiod% am()uni li) i4111,204 (2022- £_129.472} at IO June 202_1 Ill addition, endowmeni fullds of £5 are held12022 £5). Reserves policy Resetves in Il)e 8¢netal fiind ale l() be kepl lo a mininiiim. Desi8nal¢d fiinds have been established lo covei futuie expendilure and lo tnaintain %iL8lainablc buT%ary 8raJil8 to F.Jn2c t)ILcI School for tlic forc%ccablc fiiturc. FinaDcial position Unre511icled funds aniounl lo £4,080,284 (2022 - £3.982,6471 on 10 jI￿e 202.1. ol'which £4.076,76212022 - £7,979.125} ha5 been designated to provide siistatnablL bur%ary grant% to l..m3nllel %chaol. 'l-he trustee5 are of the Oplliion tiiat the level ol'lree resetves. at £1.52212022- £.1,5221, provide5 the charity with 5ullicient funds ro cnable it to mLYt its obligaiions over IhL nLxi twelve monihs and maichL% IhL policy set out above. THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 311 JUNE 2023 Statement of trustees, responsibilities 'rhe chaiily'5 IIus1¢¢5 ie5ponsible IUT PT¢parin¥ ihe xnnual i¢p(itl account￿ in aCL(TrILlanL¢ wilh applicable law and Uniled Kit)gdom Aecoullting 8tsndards (lJnitcd Kingdoin Cicncrally Accepled Accounting Practice). The law applicAble to charities in England and Wales requires the trustees to prepare accounls for each financial year which give ¥ true and fair view iifihe slate (>f arrairs i)l-the ¢h¥ri¢y and of the income and ¢xpendiiur¢ of the ¢harily for that period. In preparing ihese a¢Loun¢s, the trnsiees are requireJ tsi.. + S¢l¥ct suilable ac¢ounting polici¢s and th¢n apply thim consistently; • Observe the tnethods aiid piinciples in Accounting and Reportin8 by Chaiities". Statement of Recommended Practice applicable io ¢haTiiies preparing their accouiits in ac¢ord8nce with the Financial Reporting Standard applicable in the UK and RepubliL of Lreland (FRS 1021; • MakL judgcmcnis and L￿limat¢S (hai are reasonablc and pjudcnt: + StatL wlicthLr applicablL Uniled Kijigdoin Aceoullting StandariLs have been followed, subject lo any material dcpartLires di5c105ed and explainLd Lil ihc accoull15" and • I'repare the accounts on ti)e goin8 concern basis unless il is inappioptiate to presume that the charity will continue in operatian. The tnLStee4 are re8pc)n%ible for keeping proper accouniing reLord% Ih&i disclose with rea%c)nable aLCUTaey al any time the rinancial posili()n orth¢ Charily and enable ihem IL) ensure ihai ihe accoimls Comply with the Charilies Avi 2011. appli¢able Chdllty (AcLounls dnd Repurlsl Regulalion5 dnd Ihe provisions ol. Ihe Lharily'5 iru51 deed. They ale ulso responsible for salibjudiding Ilie assels ol. the Lhaiily dnd hei)Le fui iaking reasonable slLPS lor Ilie prevLntion and dLteLtion of liaud and other ittebjularilies. Si8ned on behall'of die Board of I'ruslees Marku% Jaigirdcr Ttustcc Approycd by thc 1Soard ol-'I'rustcc% on.. 20111 March 21124 INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST We have aiidiied ihe financial siaiemenis ot F.Inanuel Sch￿] General Charitable T]ust for the year ended 10 June 2023 which Lutnpiise ihe Sidteinenl ul. FinanLial ALlivilies, Balance Shee( anij noles lo (he finanLial slalernenis, ineludiiig a sunllnary of sisFnili¢uni aLLuuniinb policie5. '1'h¢ lin#nLi#I rtpvrlin&J fr￿¢wi)rk th#1 has been appli¥d in their prgparaiivn i5 appIiLable law and United Kinbdoni ALLoiinlin8 Siandards, inLludin8 I'inanLial Il¢piirlin8 SiHndaid 102 Jlie J,iiiancial Reporliiig 3'iaprdard applicable in ilie IIK anJ Repiiblic o[Jrelaiid {Ilnilvd Kingdom (itn¢rally AcLepl¢d ALLounlin¥ I'iaLIiLe). In our opinion. the linancial 51alements'. ive a Irue lair view ol. the siale of the charily's alfai15 as ai 10 June 2023 and ol'ihe charity's nel lllovernenl lund5 for the ycar then cnded: liave bec￿ propLrly prL"pared Jn accordallce witli Uniled Killgdojn GLllerally Aceepted Accountillg Practice: and have been PFepaTed in accoFdance with Ihe requiiemenls ol'the Charitie5 Ac(2011. B#si¥ for opinion Wc havc bLcn appoinled a8 auditor under %ection 144 of the Charities Act 2Ql l and report in accordance with thc Act and r¢l¢vant r¢gulalions mad¢ or having ¢ff¢cl th¢r¢und¢r. W¢ conduct¢d our audit Ill accordanc¢ with Int¢n)ational Standards Audiiing {UKI {ISAs (UK)) and dppli¢able law. Our respollsibililies under those slandards are Luriher deslribed in ihe Audilor's rebponsibilitie5 101 the audii OL ihe finanLial 5uiemenls bection of our reporl. We are indepenJeni of Ihe Lhdrity iri dLLordance willi thL Lthical rLquifLmLtils tliat arc rLILvaJil to our aiidii ol- thL tjnancial s1alLJllL￿tS in IIIL UK, incliiding thL I.'RL's L.Ihical Slajidard. and wc havL tultillLd our otliLf Lthical rLSPOtisibilitics in accordancL with IhLse rLquircmcnLs. We bclicve that the aiidit LvidLllcL WL IiavL obiainLd is sul'tjLILnt and appropriatL' to provJdL a basis tor our opinioji. Cvnclusluns rcl#tln¥ to gulng cvnctrn In #iidiling the linJncial 4ittiemLni%, we h#ve concluded thai Ihe trusiees. use of ihe going Loneern basis of accouniing iTJ (he preparaiion ol IhL financial siatemenis is appropriate. Based on (he work we have performed, we have ntsi identilied any nmietial unLenaintie5 relaiing io evenis or condilions dkai, individiially 01 LolleLtively. Ldst sisynifiL￿l duubi (In the LhaEity'S dbilily lo LollI￿U￿ a going LODLern foi a peiiod ofat ledsi iwelve In(>nihs fri)In when ilie Iinanii¥l sM¢emenis are auih()rised fi)r issue. Our rcsponsibilitics and thc Icsponsibilitic% of thc tru%tccs with Icspcct to going conccrn arc desciibcd in thc relcvant seetions Ithi% rcport. Other inforrnation 'rhc tnislcc% aic rc%pon%iblc for the other infonnalion. The othei inloTmation coinpTises the infotmation includcd in the Tnistecs. Rcpnrt. Our opinion on thc financial %talcincnt% doc% not cnvci the othcT inforn]atian and. cxccpt to thc extcnt othctwi%c cxplicitly staled in our report, we di) not express any form i)f assurance conclusion IlieTCOt). In connLction wilh oiir aiidit of thL financial %raiemeni%. our re%pon8ibiliry 1% 10 rL'ad rhc oihcr inforniation and, in doing $0, consider whcihcr ihL orhLr inforniaiion 1% maiLrially incon%i%ieni wirh rhc Iinancial %iaiLmeni% or our knowlLdgL ohiainLxl in the audit ()r othcnvi%L appears i(} he maierially mi%%ialed. It. we idLntify 4uch maierial incnn%i%iLm¢ic% ()r appareni material mi%%iatLmcnl%. WL arc required i() dLtcm)inL whcihLY thcrL i% a material mis%talLmcnt in the tinancial %tatement% or a material mis%latLtnenl ot Ihc other information 11-. basLd on thL work WL havL PLrti)rmed. wc coneludL that thcrL is a Jnaterial JnisstatLment ot-this othLr information. WL arc requircd to rcport that lact. Wc havc nothing to rcrM)rt in this rcgard. latters OD which we are required to report by exception We liave iiothing to ieporl iii re%pecl of tlie following mattets Jn ielation to which the Cliantie5 (Account5 and Reports) Rcgulatinns 2(NJ8 rcquirc u% to rcpnrt tn ynll if. in oiir npinian." adeqiiate accoiinling records have not been kept by the charity; or 4uifiLient aLLL)unliiig reLI)rd4 have ni)1 been kepi. or Ihe Lhdiily linanLial slaiemen15 ale noi in asryeem¢ni wilh the aLLvuniing reLoid5 and renllns., or we havc not Icccivcd all thc infonnation and explanations wc fcquiTC for olli audit. INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST As explained more fully in ihe irusiees. responsibililies siaiemeni. the lsustees are regponsible for (he preparaiion of ihe finanLial slaiemenls dnd foi be￿n￿ salislied thai they give a triie and l&ii view, and ftsi SULh inieTnal Lonliol a5 ihe ITU51ees dtleTniine is n¢Lesbary io enable the prep#r#liott of linancial 51#ieJnents ihai are Iree from material mi55t#temeni. whether due lo Ir#ud or ertor. prepariiis lh¢ l]nanLial slal¢iiien15, (he Ituslees iespvnsibl¢ Ivr asses5ins ihe Lhatily's ability to Lonlillue as a going concetn, d15L105in8, a5 applicable, Inalle15 related to going LoncLtn and using 11)L going LoiiLeni basis ol. accounliii8 uiiles5 tl)e (ru%tccs eithcr intend tn liquidatc thc cliaiity or lo ceasc npcrations. or havc no rcalislic altcrnalLVC but lo dn so. Auditor's responsibilities for the audit of the financial statements Uui ubj¢Ltiv¢b ar¥ tv vbtrdill reabunable a55uianLt aboui wligih¥r th¥ linattLial 51al¢llients' as a wholr art Ir¥¥ Irom inal¢ri#l isslalen)eiit. whether due lo Lraild or error. alld to issue an auditor's report that includes our Op￿10￿. Reasonable assurallce is a liigh ILvel ol assuranLe, but is not a guaiajitee thal an aiidil LOllduLied Jn aCLordanLe witli ISAS (UK} wjll always deleLI a InatLrial Inis%lalLmLnl whcii il Lxi%ts. Mis%lalLmLiil8 Lan ari%L Ir()In ITaud or Lm)r aiid arL ¢onsidLrcd InatLrial il-, individually or in thL aggrLg#(L, IhLy could rL'asongLbly be expLciLd lo influLnce the economic dLLisions of usLrs iakcn on IhL basis ol. thLse fI￿nCial 51alemenls. Irregulatilies. including Fraud, are instanees olnoll-cornpliallce with laws and reBulaliollS. We design procedures in line with our rLsponsibJlitjLS. OUtlitlLd abovL. to delLcI JnaiLrial misslaiLmLtils in respcci ot. IrrLgularitics, ijieluding Iraud. 'I'he cxtLJlt to which our proecdLircs are capable of dctcciing irregulariLics, incliiding traud is dctsilcd bclow.. Based un oiir undeTsldndi]JbJ of the Lharily and (he environD]¥ni in whiLh il uptriales, we identilied thai ihe pri])LiPdl iisks. of nun-LiJmplianL¢ with law5 r¢¥ulalion5 ielaled 10 Lharily law IEus1 law r¢qiiitem¢nls uver (he use of resltiLl¢d and end()l￿ed fund4, we c()n%idercd Ihe exieni i() which non-cthmpliance mighi have a maierial effeci £)n (he linancial %i#iemenis. Wc lllso considLrcd those laws and regulaiions ihat have a direcr impaci on (he preparation of the linancial staiements such as tlie Charities ALI 2(111. We ev#luaied manageinent'5 incenlives anJ i>ppor¢uiiilies fi)r fraudulent manipulation (>fthe financial 5l¥lements' {inLluding the risk of override of ¢onirols1. and detennined Ihat Ui¢ priiiiipal risk% were related li) pi)biing? iiiapproi)riaie Journal eniriey to income and Inanagement bias in accounting estimates. Auditpro¢edures performed by the engagement team included. In%pLCting corrc8P()nd¢n¢e with rL'gulaiors', l)i%cu%%ions witli inanagcmcni inclLiding consideralion of known or SUSPLCtcd instanccs of non-cojnpliancc with laws alid rcgulaii()n Iraiid-, F..valuating managcment's cnt)trnls designed to prevent and detect i￿egularities. IdLniifying t)nd iLs1ing joiimttl LniriLS; and Challenging a8sumplion% and judgement% made by mllnagement in their accounting estimates. BecaiisL of thc inhereni limitatii)ns of an audit, rhLYe 1% a risk ihar WL will not dLiCCi all irrLgulariries. including ihosc leading ro maicrial mi4%iarement in thc financial %ialLmLmis or non-¢omplian¢e wilh rcgularion. This risk inLrL'a.%c4 ihe morL that Lnmplian¢e ￿'71h a law or rLgiilg1i()n 1% rcmnvcd fr()m ihe C￿Lnt￿ and iran%a¢iinns rcllected in ihL Iinancial %lJiLmLntS, 8% WC will bL le%% likely to hLcomL awarL' lit. in8iance% ()t non-compliancc. "I"hL ri%k i% al%() grcaicr rcgarding irrLgularitlL% ()ccurring due to traiid raihcr than Lrror, as traLid involvLS intLntional concLaIML￿I, forgery. Collusion. oiniision or misreprLseniation. A furt]ier descrjption of our respoJisibilJlies for the audit of the linancial staternents is localed on the fiiiancial Reporting LnunLil's w¢bsit¢ at.. www.Ir¢.c)r Iikiaiidilor%r¢% n%ibiliiic4. 'lThis d¢s¢riplion f()rn1s pari of our audil()r'% r¢￿rt. Use of our report This Icport i% inadc 501cly to tlic charity's tnistccs, as a body, ill accoTdaiicc with 5CCtion 144 of thc Chaiities Act 2011 and rc8ulation5 madc uiidcT section 154 01. that Act. Oiir audit work ha5 bcen undertaken so that we mi81)t slate to tlie charity's tru5tee5 those inatte15 we are ieqiiiicd to slate lo tlieni in an Aiidilo¢s Icporl and loi iio otl)ei piirwse. To Ihc tullest extent peifflilled by law, we do iiol arcLpl or assume responsibility io anyone othei than the charity'5 ttU5t¢¢s as a body foi our audit woik, loi Iliis repori, ur toi the opinioDs we have loinied. Huysn)acintyie LLP %idiiitory Audili)TS 10 Queen Sireei Place Londc)n LC4R IA(T D#lL.' 27 March 2024 HaysmaLinlyre LLP ib eligible to aLt as an auditor in tem)s ol'seition 1212 Ol-the Companies Act 2006. THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR EP4DED 30 Juno 2023 Unrestricted funds Rcstrieted & Enduwod fund$ Total 2023 Total 2022 Note Income from: l)nN(NliaN.f a￿d Ifgucies 156,680 161,012 166.141 122,821 16.1,012 1gC),1O8 127.769 Total Ineome -119,692 166,141 485,877 323,877 Expenditure un: Raisingfunds Charilable aclivilies 8,928 17l,-684 8,928 256,79.1 14,758 211,49U 85,4U9 Total expenditure 180,312 85,4U9 265,721 226,248 Net income before inYestmeDt %#in5 10sse5 139,380 220,112 97.629 Net losses on invcstjnenls (47,10.1) {4.1,30.1) {2.17,262) Net in¢omel(¢xp¢nditurc> for tbe ycar 96,077 80.732 176.809 11.19,633) Balan¢e5 broughi fon¥ard at l July 3,982,(y17 129,477 4,312.124 4,451,757 Balances carried forward at 311 June 4.078.724 410.209 4,488.911 4.112.124 The Statement of financial activities incliides all gains and 105ses reco8ni5ed in the year. The notes pages 9 io 15 fotin part of the financial statemenLs. 'ull comparativcs for thc Statcmcnt of I'inancial Activiti¢s aTC COlltain¢d in note 12. THE EMANUEL SCHOOL GENERAL CHARITABLE TRUST BALANCE SHEET AS AT 30 June 2023 Charity Regi8tr#tion Number: 296273 2023 21122 Note FIXED ASSETS Invesi]nenls 3,702,862 3,747.602 CURRELYT ASSETS D¢bii)TS Cash ai bank 4.3,872 745.409 13.601 553.261 789,281 566,922 CREDITORS.. amounts fallin8 due within oiie yLaf {_3,210) 12,400) NF.T C.IIRRF.NT AgSF.TS 7&fi,n71 SC)4.522 TOTAL NET ASSETS 4.488,9.17 4,-112,124 REPRESENTED BY FUNDS AND RESERVES Pcrnivin8 iiinLern. The iruslces are ol-Ih¥ upinion ihdi the chatity will liave sullicient re50uices lo meet ils liabilities a5 they fall due. Donations are reLvgnised when th< Lliarily ha5 colliitlllaliou vl. biiih the a￿{)unt xnd s¢iil¥in¢ul dal¢. Ill ih¢ ¢veDI of donations pl