## **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