ISLEWORTH BLUE SCHOOL EDUCATIONAL FOUNDATION
ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
Charity Number - 312546
HAROLD SMITH CHARTERED ACCOUNTANTS ST ASAPH & CRICCIETH
ISLEWORTH BLUE SCHOOL EDUCATIONAL CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024
| Charity Number | 312546 |
|---|---|
| Trustees | Mr. D. J. Freeman |
| Mrs. C. J. Pielichaty | |
| Ms. D. Sayer | |
| Mr. D. Cokayne | |
| Mr. D. Leong | |
| Mr. J. Jenkins | |
| Mrs. F. Strongman | |
| Ms. C. Reichardt | |
| Charity Address | 4 Church Street |
| Isleworth | |
| TW7 6BH | |
| Accountants | Harold Smith |
| Unit 32 Llys Edmund Prys | |
| St Asaph Business Park | |
| Denbighshire | |
| LL17 0JA |
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ISLEWOTH BLUE SCHOOL EDUCATIONAL FOUNDATION (REGISTERED CHARITY NO. 312546)
We report on the accounts for the year ended 31 March 2024 which comprise the statement of financial activities and balance sheet and the related notes. Respective responsibilities of trustees and examiner.
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 144(2) of the charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down by the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
Our 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 no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with our examination, no matter has come to our attention:
-
(1)[ which gives us reasonable cause to believe that in any material respect the requirements;]
-
• to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the
-
accounting requirements of the 2011 Act have not been met; or
-
(2) to which, in our opinion, attention should be drawn in order to enable a proper
-
understanding of the accounts to be reached.
................................................... Dated …………………............ Simon Murray-Williams FCA for and on behalf of Harold Smith Chartered Accountants St. Asaph Business Park Denbighshire LL17 0JA
ISLEWORTH BLUE SCHOOL EDUCATIONAL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| General note |
General note |
2024 TOTAL |
2023 TOTAL |
|---|---|---|---|
| Incoming Resources 2 Donations and legacies Other trading activities Investments Total Income Resources Expended 3 Charitable Activites Other Expenditure Governance Costs Total Expenditure Gains/(losses) on revaluation 6 Unrealised Gains/(Losses) on Investments 6 Net Movement in Reserves Reserves Balance brought forward - 1 April 2023 Balance carried forward - 31 March 2024 Charitable activities Net Incoming/(Outgoing) Resources |
£ 215 18,393 94,209 54,380 |
£ 215 18,393 94,209 54,380 167,196 59,798 25,688 1,750 87,236 79,960 - (10,832) |
£ 145 14,232 89,896 45,359 |
| 167,196 59,773 25,688 4,234 |
149,632 63,006 21,956 2,890 |
||
| 89,695 | 87,852 | ||
| 77,501 | 61,780 | ||
| - (10,832) |
807,000 (47,045) |
||
| 66,669 - |
69,128 | 821,735 | |
| 3,360,211 3,426,880 |
3,360,211 3,429,339 |
2,538,476 | |
| 3,360,211 |
ISLEWORTH BLUE SCHOOL EDUCATIONAL FOUNDATION BALANCE SHEET AS AT 31 MARCH 2024
| Note ASSETS: FIXED ASSETS: 4 CURRENT ASSETS: CAF cash account Investments at Valuation CURRENT LIABILITIES: Creditors Accruals NET ASSETS: RESERVES Revaluation Reserve 6 Accumulated Surpluses 7 Capital Carried Forward Approved on behalf of the Trustees ………………………………….Member ………………………………….Date |
Note | £ £ £ £ 2,331,929 2,331,929 129,494 147,137 970,312 881,145 1,099,806 1,028,282 2,371 - 2,484 - 4,855 - 1,094,951 1,028,282 3,426,880 3,360,211 749,123 759,955 2,677,757 2,600,256 3,426,880 3,360,211 2024 2023 |
£ £ £ £ 2,331,929 2,331,929 129,494 147,137 970,312 881,145 1,099,806 1,028,282 2,371 - 2,484 - 4,855 - 1,094,951 1,028,282 3,426,880 3,360,211 749,123 759,955 2,677,757 2,600,256 3,426,880 3,360,211 2024 2023 |
|---|---|---|---|
| 1,099,806 2,371 2,484 |
|||
| 4,855 | |||
| 3,360,211 | |||
| 759,955 2,600,256 |
|||
| 3,360,211 | |||
ISLEWORTH BLUE SCHOOL EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
BASIS OF PREPARATION
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).
NOTE 1 : ACCOUNTING POLICIES
Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
the trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
Contractual income and performance related grants
This is only included in the SoFA once the related goods or services have been delivered.
Investments
Investments held for the long-term are included within current assets and are stated at market value. The Trustee accounts for all investment income and realised gains and losses in the Statement of Financial Activities.
Governance costs
Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Tangible fixed assets for use by charity
Fixed assets are stated at cost. The revaluation model has been adopted for the investment property. The revaluation was carried out on 25th January 2023.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Investment gains and losses
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
ISLEWORTH BLUE SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
NOTE 2: ANALYSIS OF INCOMING RESOURCES
| General MAR 2024 MAR 2023 TOTAL TOTAL |
|
|---|---|
| Donation and Legacies Donations Charitable Activities Rental Income Other trading activities Rental Income Investment Income Investment Income Interest Total Income |
£ £ £ 215 215 145 |
| 215 215 145 |
|
| 18,393 18,393 14,232 |
|
| 18,393 18,393 14,232 |
|
| 94,209 94,209 89,896 |
|
| 94,209 94,209 89,896 |
|
| 54,092 54,092 45,130 287 287 229 |
|
| 54,380 54,380 45,359 |
|
| 167,196 167,196 149,632 |
ISLEWORTH BLUE SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
NOTE 3: ANALYSIS OF RESOURCES EXPENDED
| General MAR 2024 MAR 2023 TOTAL TOTAL |
|
|---|---|
| Charitable Activities Hall Letting Expenditure Clerk's fee Hall running costs Swimming pool site rent Unidentified cheque payments Leaving gift Xmas party Bank charges Block grant Bibles Other Expenditure Commission Management fees Repairs cleaning etc Insurance Utilities & misc Governance Costs Accountancy Independent examiners |
£ £ 2,460 2,460 3,935 4,772 4,772 3,900 11,097 11,097 17,129 - - - - - 250 200 200 100 146 146 192 76 76 84 40,000 40,000 36,504 1,023 1,023 912 |
| 59,773 59,773 63,006 |
|
| 11,305 11,305 11,721 - - 576 6,756 6,756 1,969 7,627 7,627 7,690 |
|
| 25,688 25,688 21,956 |
|
| 1,750 1,750 1,750 2,484 2,484 1,140 |
|
| 4,234 4,234 2,890 |
ISLEWORTH BLUE SCHOOL EDUCATIONAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
NOTE 4: TANGIBLE FIXED ASSETS
| Cost At 1st April 2023 Revaluation At 31st March 2024 Depreciaion At 1st April 2023 Charge for the year At 31st March 2024 Net book value At 31st March 2023 At 31st March 2024 |
Investment Property 1,785,000 - |
Freehold Property Total 546,929 2,331,929 - - 546,929 2,331,929 - - - - - - 546,929 2,331,929 546,929 2,331,929 |
|---|---|---|
| 1,785,000 | ||
| - - |
||
| - | ||
| 1,785,000 | ||
| 1,785,000 |
NOTE 5: RELATED PARTY TRANSACTIONS
There are no related party transactions during the year.
ISLEWORTH BLUE SCHOOL EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
NOTE 6: REVALUATION RESERVE
| MAR 2024 MAR 2023 TOTAL TOTAL |
|
|---|---|
| At 1 April 2023 Unrealised Gain/Loss on Investments Revaluation of Investment Property At 31 March 2024 |
£ £ 759,955 - (10,832) (47,045) - 807,000 749,123 759,955 |
| The effective date of the revaluation on the investment property | The effective date of the revaluation on the investment property | |
|---|---|---|
| was 25/01/2023. | ||
| The valuation was carried out by independent valuer; Anthony James | Manser. | |
| 10/12 South Street | 1,460,000 | 1,460,000 |
| Caretaker's flat | 325,000 | 325,000 |
| 1,785,000 | 1,785,000 | |
| NOTE 7: ACCUMULATED SURPLUSES | ||
| As at 1st April 2023 | 2,600,256 | 2,538,476 |
| Profit/Loss for year | 77,501 | 61,780 |
| As at 31st March 2024 and 1st April 2023 | 2,677,757 | 2,600,256 |
ISLEWORTH BLUE SCHOOLS Income and Expenditure Account for the year ended 3110312024 2024 2023 Income Note Income Expenditure Net Rent 10112 South Street Rent Caretakerfs Flat Hall Letting Interest Investment Income Donations 72,159 22.050 18.393 18.335 7,353 2.460 53.824 14,697 15.933 287 54.092 52.970 13,863 10.297 45,130 215 112.817 145 28.148 138.833 122,634 Overheads Clerk's fee Book-keepingl accountancy Independent Examinevs fee Hall running costs Swimming pool site nt Unidentified cheque payment Leaving gift Debbie Sayer Leaving gift Paul Tumei Xmas paty Bank charges 4,772 1.750 1.750 1.140 11.123 17,129 250 100 100 146 76 1Y2 I8,(7 24.545 Distributsble Income 120.766 98.089 Charitable Expenditure Blue School Govemors Blod( Grant Bibles Award 40,000 1.023 912 41.023 79.743 37,416 Net Income 60,673