Mapus-smith & Lem Chartered Accountsnts WEST NORFOLK & KINGS LYIYN GIRLS, SCHOOL TRUST Registered Charity Number 311264 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024
WEST NORFOLK & KINGS LYNN GIRLS, SCHOOL TRUST Registered Charity Number 311264 CONTENTS Page Trustees Report Independent Examiners Report Income and expenditure account Investments Balance Sheet Grants Trustees responsibilities Notes
WEST NORFOLK & KINGS LYNN GIRLS, SCHOOL TRUST Registered Charity Number 311264 TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30TH JUNE 2024 The detai15 of the Charity are as follows:. Principal address Mrs M Aldou5 (Clerk) Woodstock Coltage 2 S¢hool Lane Little Dunham King's Lynn Norfolk PE32 2DQ Tru51ees Mrs M Taylor {Chairper50nl Dr R Rogers (Vice Chairperson) Mrs G Boon Councillor E Nockolds Miss S Rawling.% Mrs V Ling (Treasurer) Mr T Hodkiiison Rev C Williams Accounlanls Mapus-smiih & Lemmon LLP 48 King Sireel King's Lynn Norfolk PE30 IHE The Iruslccs, present their report for the financial year ended 30, June 2024. Sirueture? govcrnancc And mAnagem¢nt The charity is govemed by tlie Schemes of 27, Jun¢1983 artd 20, January 1987. Tlie Schemes scl out the The charity is a ttusl consisting of 9 trusl¢es. All trustees give IhLir lime voluntarily and received no Objc£tlv¢$ and Aclivllles Tlie chariiy's objcctiV are to... I. Provide such special benelits of any kind not nornially provided by the local edu¢alion auiliorily for any 2. Promote the education of girls and young women resident in the area of benefit, in need of financial In line with the above objectives, funds are held in a range of investm¢nls lo generate incom¢. Income generated Appli¢alions are received from girls and young women in the area in relation to their education or preparation for Any surplus funds not rcquiTed remain invested lo generate further income for the charity.
Achfftevements ind p¢rform8nee The cliarily made grants of £34.917 in th¢ year compared to £12.690 in the previous y¢ar. Funds were applied for new instruments, study texts and travel in pursuil of ¢du¢alion for 20 girls and young woinen in tli¢ area. Fin&nci41 review As slalod in the notes to tlie accounts. it is th¢ charitys policy that unrestricted fvnds not committed or invested in Ilie tangible fixed assets the charity holds (the unrestricted reserves) should be a minimum of £30,000 being one year's anticipated ¢xp¢nditure. Free reserves al 30th June 2024 w¢re £156,654 (2023 £151,854), leavin&y an excess of £126,654 (2023 £121,854) Th¢ tru8tees inlend lo reduLe this by grnnling higher levels of assistan¢¢ where appropriate. Income from investments continues to be consistent with previous years. The cliarity has consistent rental incom¢ of £9.100 annually (2023 £9,100) Th¢ majority of income is fjpplicd for the PULTsose of making grants. A Small salary is paid lo the Clerk for administrative duties and any Clerk's expcnses are reiinbursed. No significant ¢xp¢ndilure was incutted in th¢ y¢ar. DlAratIOn Tlie Iruslees declare tlial they have approved the Iruslees. report above. Signed on belialf of the charity's Irustees'.- Slsniture Chairper50n
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to the trusteesl members of West Norfolk & Klng's Lynn Girls, Schools, Trust on accounts for the year th ended 30 June 2024 set out on pages 4 to 9 Respective responsibilities of trustees and examiner The charity's tnteeS are responsible for the preparation of the accounts. The charilgs trustees Consider that an audit is not required for this year under section 144(2) of It is my responsibility to: examine the accounts under section 145 of the 201 l Act, as amend to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 201 l Act, and to state wh¢ther particular matters have come to my attention. Basis of independent examiner's statement My examination was carried out in accordance with general Directions given by the Charity conlis510n. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is liiniled lo thos¢ mallers set out in the statement below. Independent examlner's statement In the course of my exainination, no matter has come to my attention which gives me reasonable cause lo believe Ihal in, any material respect, the requirements: to keep accounling records in accordance with section 130 of the 201 l A¢l' and to prepare ac¢ounls which accord with the accounting records and comply with the accounting requiranenls of the 20 I l Act have not been inet. or 2. to which, in my opinion, attention should be drawn in order to enabl¢ a proper understanding of the accounts to be reached. fi)w.Srf: L4R Mapus-smith & Lemmon LLP Chartered Accountants 48 King Strc¢t King's Lynn Norfolk PE30 IHE
WEST NORFOLK AND KING'S LYNN GIRLS, SCHOOLS, TRUST Registered Charity Number 311264 INCOME AND EXPENDITURE ACCOUNT for the Year ended 30th Julle 2024 Unreslricled Funds Unrestricted Funds 2024 2023 Income Rent of Qu¢ensway Pla)qng Field Inveslinent Income as schedule Legacy Bank and Other Interest 9,100 38,686 9.1(Kl 21.944 502 47,786 36,546 Expendlture Clerk's Salary Printing, Postages, Copying and Sundry Expenses Bank charges Accountancy Fees Leaflets Website ¢osls 3,606 568 29 360 3,355 342 348 39 2.906 7,469 4,484 Net Income avallAble for dlslrlbutlon 40.317 32.062 GrAnts Approved #nd pald durlng year Individuals Schools 34.917 21,69i> 1,798 2 r. Dlana Bullock Awllrds Valerle SeamAn Aw8rd Pat Roblnson Burs4ry 200 200 200 35,517 23,688 {Defielt)/Surplus for year 4,800 8.374 2024 1,5 2023 Accumulated Income brought forward 113,965 105.591 (Defi¢il)ISurplus tor year 4.800 iy 8.374 Accumulated Incom¢ carried fonvard 118,765 113.965
WEST NORFOLK AND KINCIS LYNN GIRLS, SCHOOLS, TRUST Registered Charity Number 311264 SCHEDULE OF INVESTMENTS for the Vear ended 30th June 2024 PERMANENT ENDOWMENT Income Market Value 2024 2023 C05t 2024 2023 18.200.00 Unlts Charlnco 10.430.00 Untts M&G Charlfund 52,676.90 Units Charlshare 31,846 51,105 108,620 J,638 9,022 19,069 546 8,761 6,585 26,223 25,370 111,601 372,464 J98.830 191571 29,729 15,892 336,654 509,435 INCOME ACCUMULATIONS 3,057.25 Income Charltles Offlclal Shnre$ Investment Fund (COIF) 4,817.87 Unl¢$ Charlnco 3,333.00 Unlts M&G Charlfund 10,658.44 Unlts ChAr15hArc 7,000 7,000 21,611 21,615 1,782 434 2,883 3,858 1,775 145 2,800 1,332 66.283 6.942 35,663 80,698 59,424 6,716 35,66J 75,363 57,226 8,957 6,052 189,586 177,166 248,797 38,686 21,944 726,240 686,601 PRIZE FUNDS £342.39 21AO/o Ci Oliver Jermyn Pr17 201.23 COIF S Henry Smltli Scholarshlp 87 466 185 3,021 185 3,021 553 3,206 3,206 249,3SO 38,686 21,944 729,446 689,807
WEST NORFOLK AND KING'S LYNN CIRLS. SCHOOLS, TRUST R¢gistcrod CharIty Numbor311264 BALANCE SHEET as at Joth 2024 2024 2013 ASSETS Invcsttn as Scheiiuk Rcstrictd- Enduwjncni Unre&lricl¢d- Incne Accuinulalions PTi£e Funds Market Value.. 191,571 57,226 553 191,571 57,226 553 2024 £ 2023 £ 729,446 089.807 Bank Balances 105,940 101,140 355.290 350,490 LIABILITIES Creditors 1,528 I,S28 NET FUNDS 353,763 348.963 REPRESENTED BY:. Pernianent Endowment A4previously reported Priix funds UnT¢slricid Fiinds A¢¢iiiniiloi¢d In¢iHn¢'. To 27111 Jun¢ 19113 whcn prLSel)1 sch•n¢ egiubli5h Sub9equ¢nily 196,556 553 196556 553 37.¥¥9 118,765 37,889 113,965 353,763 348.963 FinJii¥ifjl StAieinwl¥ apptovcd by Trn5tKS Chairtwon Trumeelea$U1er
WEST NORFOLK & KING'S LYNN GIRLS, SCHOOLS, TRUST Registered Charity Number 311264 STATEMENT OF TRUSTEES, RESPONSIBILITIES Law applicable to charities in England and Wales requires the tru51ees lo prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of ils financial position al the end of the year (unless the Charity is enliiled to prepare Accounts on the altemalive receipts and payments basi5). In preparing financial slalements giving a true and fair view, the Iruslees should follow best practice and.. Select suitable accounting policies and then apply them consislenlly. Make judgements and estimates that are reasonable and prudent. Stale whether applicable accounting standards have been followed. subject lo any material departures disclosed and explained in th¢ financial statements,, Stale wlieiher appli¢able accounting standards and slalemenls of recommended practice have been followed, subject lo any departures and explaiiied in the financial slalemenls. Prepare the financial slalemenls on the going concem basis unless it is inappropriate lo presume that th¢ Charity will continue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable a¢eura¢y the financial position of Ilie Charity and which enable them to ensiire that the financial slalemenls comply with the applicable law, regulations and Charity's Tru51 Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking respon8ible steps for the prevention and detection of fraud and other iegUlar]I1es.
WEST NORFOLK & KING'S LYNN CIRLS, SCHOOLS, TRUST Registered Charity Number 311264 NOTES ON FINANCIAL STATEMENTS 30TH JUNE 2024 Accounting policies. Basis of accounting. The flnancial stat¢m¢nts have been prepared under the historical cost convention. The trustees have established a policy wh¢reby the unr¢stri¢led funds not committed or invested in the tangible fixed assets th¢ oharity holds (the free reserves) should be approximately twelve months of the resources expended, which equates to £30,000. At this level, the trustees feel they would be able to carry on the charitgs activities in the event of a significant drop in fjjnding. It would then be necessary to consider how funding would be replaced. At 30 June 2024 the unrestricted reserves of £156,654 (2023 £151,854) exceeds the target level by £126,654 (2023 £121,854) and the trustees intend to reduce this excebs gradually through a policy of granting higher levels of assistance. This amount includes £5,000 in respect of a legacy received in 2008 as detailed below in note 3. There were no conditions allached lo the legacy of £5,000. The trustees have decided that any income generated by the legacy be given as a discretionary award.