Registered Charity Number. 298986 GGS SCHOOL FUND FINANCIAL STATEME FOR THE YEAR ENDED 31 AUGUST 2024
GGS SCHOOL FUND Contents TRUEE5. REPORT.................................................................. Structure. Governance and Management................ . Objects, Ooanisatlon, Activltles and Public Benefit.-......................................................................... Rlsk Assessment................................... . Finantial Revlew................................................ Policy on Reserves................................................................................... .. Future Plans................................................................................ ..... .. . INDEPENDENT EXAMINER'S REPORT...................................................................................................... STATEMENT OF FINANCIAL ACTIVITIES. BALANCE SHEET........................................... . NOTES TO THE FINANCIAL sfATEMEfrirs.................................................................... .... ... Management and admlnlstratlon expendlture.......................................................................... Credltor5: amounts fallln8 due wtthin one year......................................................................... Funds.........................................................-............................................................................... Analysis of net assets between funds...................................................................................... 10 Related partles......................................................................................................................... 11
GGS SCHOOL FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST2024 The Trustees present thelr report forthe year ended 31 August 2024. Structure, Governance and Management The Trustees who served in the year were a5 follows: G S Wybar M D Moabv D J Lewis S L Tremaln The Charty was esLiblished by Tntst Deed dated 6 May 1987 as amended on 4 December 1996 and was registered with the Charity Commission. No 298986 on 25 July 1988. The Charity's address is Gravesend Grammar School, Church Walk, Milton, Grdvesend, Kent, DA12 2PR. The board of trustees administers the charlty. No trustees receive any remuneration for their duties. The day to day responslbillty of the running of the charity Iles wlth the stsff of Grdvesend Grdmmar School. an academy with The Decu5 Educational Trust IAletheia Academies Trust a5 of 1st March 20251 {"The Academy Trust"). The charit5 Independent Examiner is Louise Nallsworth FCA of Messrs Baxter & Co, Lynwood House, Crofton Road, Orpington, Kent, BR6 8QE and its bankers are HSBC. Objects, Organlsatlon. Actlvltles and Publtc Benefit The Charfty Is estsblished to promots and advance the education of the pupi15 of Gravesend Grdmmar School. (Yhe School") an academy within the Academy Trust The Chartty is administered by a counc51 of management made up of the above named Trustees. The Trustees are responslble for settlng the strats and monitoring the activitie5 of the fund, Activtties include fund-raising from parents of the students of the School to be applled In the furtherance of the Charlty's oblect5ves. Parental donations to the charfty are deployed bythe trustees to a55lSt disadvantsged children in attendlng educational visits, and to support a wide range of extracurricular activities, including sport. drnma and music. We were pleased to offer a wide range of extra-curricular activitie5 for students, including arts and sports. Numerou5 day triP5 took Pla to conferences, theatres. galleries. University fair. Geogrdphv and Science trips, all complementing the curriculum offered by the school. Several residential trips took place in the UK including walking in Yorkshire, Rona 5ailin8 and Summer camp. and a150 foreign resldential trlps as farafield as Gemanyl Switzerland, Italy and Sri Lanka. In Sètting our objectives and planning our acknvities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
GGS SCHOOL FUND Rlsk Assessment The Trustees have consldered the major ri5k5 towhld) the Charlty Is exposed, and approprlate systems are In place to manage these. F5nanclal Revlew The attached Flnanclal Ststements show the currerrt State of the flnances whlch the Trustees conslder to be sound. Funds of £139,74912023: £159,951) have been accumulated at 31 Au8LSSt 2024 which are made up of re5trlcted funds of £36,69012023.. £52.1711. an endowment fund of £1.521120Z3.' £1,521), numerous deslgnated funds. totalllnB £12,58312023: £13,2861, leavln8 a balance of £88,955 12023.. £92,973) for general purp05e5. An anatysls of these funds Is Included In the notes to the accounts. Restricted funds include 3 legacy of £20,043 recelved In 2013. Pollcy on Reserves The Charrty's pollcy on reserves Is that unrestrlcted, non-desl8nated funds should not eXd £ioo,000. Future Plans The trustees plan to condnue wlth current actlvltles and School trlps, Future trlps planned for Iceland, Sklln8 in Italy and Cern, Swltzerland. Sl8ned as approved on behalf of the Trustees by: s+ Date: as bar (Trust 21Page
GGS SCHOOL FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GGS SCHOOL FUND I report to the trustee5 on my examination of the accounts of the Charity forthe year ended 31 August 2024 whlch are set out on pages 4 to 11. Responsibilities and basis of report As the charitfs trustees you a responsible for the preparation of the accounts In accordance with the requlrements of the CharitSes Act 20111.the Att.). I report in respert of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commlsslon under sectlon 145151 Ibl of the Att. Independent examlnerfs staternefit Since the charity's gross income exceeded £250.000 your examiner must be a rnember of a body listed In section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinatAon being a member of the Institute of Chartered Accountsnts in England & Wales. which is one of the listed bodles. I have completed my examination. I confirm that no material matters have come to my attention in connectlon wlth the examlnation gNing me cause to believe that in any material respect: accounting records were not kept in respett of the char.ity 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 fomi and content of accounts set out in the Charities (Account5 arbd Report51 Regulation5 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 exaMInaOn. I have no concems and have Come across no other matters in connectSon wlth the examlnatfjon to which attention should be drawn In this report in order to enable a proper understanding of the accounts to be reached. Loulse Hallsworth FCA Isenior Statutory Auditor) For and on behalf of Baxter & Co Chartered Accountants Lynwood House Crofton Road Orplngton Kent BR6 8QE Dated: 27 May 2025 31Page
GGS SCHOOL FUND STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 AUGusf 2024 Gera1 Fund5 Incorne and end(wrnents fmm: Donattons and fundrdlsln ACdv1eS In fvrtherance of the Charivs oblectlves: School trfps and urney5 Otherac15vbdes 10.431 16.135 26.774 20,786 293.555 293,555 49.298 411520 31098 49.298 Totsl IDA31 36927 465A04 EKp•ndllurn on: Dlrect charliable expendlture.. Donaifjons and fundfalsini Cost of actlvlttes In fvrtherance of the Charws oblecdves.. S¢hool trfps and journeys Other a¢tlv6tles Other expendltufe Mana8ement and admin15tration of th• Charlty 956 21.020 22,070 304,596 304,596 60.733 398,294 4L139 60.733 1430 2A30 1,650 Totsl 24 325.616 389l29 451A91 N•t IbK¢me I (expend51¢) (15.9261 1202021 13,913 Transfers between fvnds 1119251 11480 445 N•t M0Ment ln lunds 14A1181 1703) 1202021 13,913 Recondllotlon of funds Total funds brought forward Total fvnds carrled fon¥ard 91973 £88.955 52,171 £36.69) I,S21 £1.521 159,951 £139.749 146,038 £159.951 £12583 41Page
GGS SCHOOL FUND Comparatlvè yèar information Yearended 31 Au8USt 2023 Unrestrtcted fjenerol Funds Unre5trfrted Desthnated Fund5 Restrirted Gernral Fund5 ETKlpwment Funds 2023 Jntom• and endowments from: DOnaon5 and fundralslng Acknvitres in furtherance of the ChariV5 objective5: School trips and Journeys Other activities 12.268 1,591 6,927 20.786 412,520 412,520 32,098 32.098 Totsl 33,689 419.447 465 E¥pendtturè on: Dlre¢t Charitsble pend1trÉ'. Donations and fundralslng Cost of activities in furtherdnce ofthe Chari$ objettives: khool trips and journeys Other activities Other expenditure Management and administration of the Char¢ty 35 282 10.090 10,408 398,294 2,795 398,294 41,139 38,344 1.650 L650 Totsl L685 38,626 411,179 451N91 Net lthcome I lexpendlturel 10,583 14,938) 8,268 13,913 Transfeis between funds 1114311 11070 361 Net movement In funds 11.8481 7.132 8.629 13,913 Ileconclllation of funds Total funds brought forward Total funds orried forward 94,821 £92?73 6,IS4 £,286 43,542 £51171 1,521 £1.521 146,039 £IS9.951 51Page
GGS SCHOOL FUND BALANCE SHEEr A5 AT 31 AUGUST 2024 2023 Currentassets Debtor5 Cash at bank and In hand 63.364 51.829 27690 282,173 Current Ilabllltl•s Creditors: amounts falli due withln one vear 1137.1411 1122,2221 N•t current 455ets Funds Unrestrlcted 8ener*l fvnds Unr•strScted desl8nated fundg Restrirted qenernl fund5 Endowment funds 88.95S 12,583 36,690 1,521 92,973 13,286 52.171 LS21 Total fvnds The financlal statements set out on pa8es 4t0 11 were approved by the Trustees on thelr behalf by: d slgned on G S Wybar Trustee oaby er and Trustee He
GGS SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS ACCOUPMNG POUCIES 1.1 Accounting convention These accounts have been prepared in accordance wlth FRS 102 Yhe Financial Reporting Stsndard applicable in the UK and Republic of Ireland" I"FRS 102.1. "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102, and UK General¥ A¢pted Accounting Practice a5 it applies from l January 2015. The charlty is a Public Benefit Entlty as defined by FRS 102. The accounts are prepared in stedin& which is the functional currency of the charlty. Monetary amounts in these financial statements are rounded to the nearest L 1.2 Goln8 concern At the time of approvlng the accounts. the Trustees have a reasonable expertatton that the charity has adequate resources to continue in operntional existence for the foreseeable future. The trustees, continue to adopt the goin8 ¢on¢ern ba515 of accounting in preparing the accounts. IJ Charltsble funds Unrestrlcted funds are ava51able for use at the dlscretlon of the Trustees In furtherance of thelr charitable oblectlves unless the funds have been designated for other purposes. All of the funds of the charlty are unrestrlcted. IA In¢omln8 resources Income Is recognlsed when the charfty Is legally enthled to It after ary performance condlt5ons have been meL the amounts can be measured reliably and it is probable that income will be received. In the case of School trlp and athity Income, thts Is rècognlsed when the charlty has entltlement to the funds. At year end any Income recefved In advance of trips and acttvltSes taklng place In the future are reco8nised as a deferred income in the balance sheet. Cash donat5ons are reco8nised on receipt. Other donations are recoBnised On the charity has been TrOfied of the donatlon unless performance condllion5 require deferTrl of the amount. Legacies are recogn15ed on (eIPt or otherwlse If the chartty has been notlfied of an Impendlng dlstribution, the amount Is known, and recelpt Is experted. If the amount is not known. the legacy is treated as a contlngent asset. IS Resources Expended Expendlture 15 recognised once there 15 a lepl or constructlve obligation to transfer etonomic benefit to a third party, it is probable that a trnnsfer of economic benefits will be required in settlement, and the amount of the obllgatlon can be measured rellablv. In relation to school trips and athities, the yearnd any ptyments made in advance of trips or actlvltles taking pla in the futu are recognlsed as a prepayment In the balance sheet. Expenditure is classifted by actbvity. The costs of each activrty are made up of the total of direct Costs and shared costs. including sUPlX>rt Costs inVoed in undertaking each attivity. D1ct costs attrlbutable to a single activity are alloc*ed dirertlytothat artivity. Shared costswhich contribute to MO than one attivTty and support costs which a not attributable to a single activity are 71Page
GGS SCHOOL FUND apportioned between those activities on a basi4 consistent with the use of resources. Governance costs include the costs attributable to the charity's compliance with constltutlonal and statutory requirements. All resources expended are Incluslye of irrecoverable VAT. 1.0 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short- term liquid investments with original maturltles of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie5. 1.7 Financial Statèments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12'0ther Financial Instrument5155ue5' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity'5 balan¢e sheet when the charity become5 party to the contrnctual pmvisions of the instrument. Basicfinancial assets Basic financial a55ets, whith include debtors and cash and bank balances. are measured at transaction prlce. Basic financial liabilities Basic financial liabilities. including credStors and bank loans are recognlsed at transaction price. Trade creditors are obl{gaonS to payforgood5 orservice5that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dasslfied as current Ilabilities if payment is due within one year or less. 1.8 Funds Unrestritted fund5 can be used in accordance wh the charStable objectives at the disction of the trustees. Further Èxplanation of the nature and purpose of each fund is included in the notes to the financial statements. CRMCAL ACCOUNTING ESTIMATES AND JUDGEMENTS Sn the applicatlon of the charitys accounting policies. the Trustees are required to make judgements. estimates and assumptfons about the carrying amount of assets and liabllities that a not readily apparent from othersources. The estlmates and assoclated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlylng assumptlons are revlewed on an ongoing basis. Revisions to accounting e5timate5 are recognised in the perlod In whlch the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affetts both current and future periods. Critical area5 of judgement In preparing these Financial Statements, the Trustees have not needed to exercise any subjective judgements that would be critical to the Financial Ststements. 81Page
GGS SCHOOL FUND l. Management and administratton expendlture 2024 2023 Independent examination fees 2. Debtors 2024 2023 Prepayments 3. Creditors: amounts falling due wlthin one year 2024 2023 Attruals Deferred income 4,757 4,445 117 777 Funds Balan at 31 August 20Z3 Galns, 105ses, and transfers Balance at 31 August 2024 Income Expenditure Unrestdtted general funds Unrestritted desSgnated funds Restricted general funds Endowments Totsl 92.973 10,431 12,5241 111,9251 88,955 13.286 49.506 161.6891 11,480 12.583 52,171 309,690 {325,6161 445 36.690 1.521 Purpose of Endowment Fund (The Edward Champion AvMrd): A permanent endowment of £1,521 was instituted in memory of a former pupll of the School. The income derived frorn this endowment is to be used for the benefit of pupils to a55iSt with travel or projert studv. Purpose of Re5tr1rted Fund5: The balance held within the restrlcted fund represents amounts received for School trip5, charitie5 and other purposes to which school funds must be applied. In respect of school trips and similar activities, on condusion of thetrip/activity. small surplus balances may be transferred to the unrestrirted general fund. Restricted fund5 at 31 August 2024 comprised:
GGS SCHOOL FUND 2024 2023 Legacy recovered for a travel bursary Other donations- charlty collecdons Theatre Day and residentSal School trips 20.043 9.987 6,660 20,043 14,552 7,193 Purpose of Designated Funds.. The balance held within the desi8nated fund represents amounts whlth have been allocated by the Trustees for speclflc purposes. Comparatlve Informatlon In respect of the pre¢edlng perlod Is as follows: Balance at 31 August 2022 Galns, 105ses, and transfers Balance at 31 August 2023 Income Expendlture Unrestrlcted general fvnds Unre5trlcted de51gnated fund5 Restrlcted general funds Endowments Totsl 94,821 12,268 11.6851 112,4311 92,973 6,154 33,689 138,6261 12,070 13,286 43,542 419,447 1411,1791 361 52,171 1,521 £159,951 146 039 £465,404 £451,491 5. Analysls of net assets between funds Fund balances at 31 August 2024 a represented by.. General Deslgn•ted unrestrlcted unr05trlrted funds funds Restrlrted General Funds Endowment Total funds Current assets Current liabilides Total 91,056 15,240 169,073 132 384 1,521 276.890 Fund balances at 31 August 2023 are represented by: Genernl De51gnated unrestrlrted unrestrlcted funds funds Restrlcted Goneral Fund5 Total funds Éndowment Current assets Current liabilitles Totsl 94,623 9,187 176.842 120 572 1.521 282,173 122 IOIPa8e
GGS SCHOOL FUND 6. Related parties The followlng related party transactlon took place in the perlod of account.. An amount of £65,52012023'. £61,674), was paid to The Decus Educational Tnjst during the year for relmbursement of School Trips and Journey expenditure. As at 31 August 202412023: £nill The Decus Educational Trust was a related party by virtue of G S Wybar ITrusteel was the Chief Executive Officer of The Decus Educational Trust. IIIPage