KING'S HOUSE SCHOOL TRUST (RICHMOND) LIMITED
IA Charltable Company Limited by Guarantee)
REPORT AND CONSOLIDATED ACCOUNTS
YEAR ENDED 31 AUGUST 2023
Company Re8lStered Address.. 68 Kings Road. Richrnond. Surrey. TWIO 6ES
Cotnpany Re8lStered No.. 590559
Charity Registered No.. 312669

KING'S HOUSE SCHOOt TRUST IRICHMONDI LTO
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
The Govemors are delighted to present their anntsal report incorporatin8 the Strategic report for the year ended 31
August 2023 under rhe Charities Art 2011. together with the audited account5 for the year. which are prepared to meet
the requirement5 of a director5, reportand accounts for Companie5 Act purposes, theTrust Deed and the Charities SORP
IFR51021.
The Governors of the School and the Dlrettors of the trading Subsidiary freely give their tirne and expertlse to support
the Charlty. None of the Governor5 receive remuneration or other benefit frorn their work with the charity. Any
contractual relationship must be disclosed, and notes of interest are retalned In wrStten form.
The khool is fortunate to be supported by parents through the Friends of King's House School and dursng the year the
Friends held a nurnber of event5, which are alway5 well attended. The Governors are grateful for their comm*tment and
contribution to the school. which. this year. totalled £19,242 and was prlmarily used to purchase new play8round
equipment across the School and Nursery sites.
REFERENCE AND ADMINISTRATIVE INFORMATION
The School 15 a Public Benefit Entity registered as è charity in England and Wales and a company Ilmited by guarantee. It
was incorporated on 17 September 1957 lcompany nurnber.. 5905591 and registered as a charityon 31 July 1964 Icharity
number.. 3126691.
Kinds House School Enterprises Ltd wasconstituted as a body corporate limited byguarantee on 21 May 2010 Icompany
number.. 072614241.
The Directors of the charitable company are the Trustees for the purposes of charlty law and a￿ Governors of the
School. In the event of the charitable company being wound up, the Ilabllity in ￿SpeCt of the 8uarantee is lirnited to £1
per Director of the charitable tompanv.
The address of its registered office is 68 Kings Road, Richmond upon Thames, Surreyi TWIO 6ES
The inft>rmation Included on pages I to 4 forms part of this report.

KING'S HOUSÉ SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
Governors. Officer5 and Advisers
The Kin8's House School Governors are the charity trustees of the King's House School tharity. They have all served in
office throughout the year, except where Indlcated. Togeiherwlth past Governors Iwho setved in the year as indicated),
they are..
Occupation
Date of appoirtrnentlresiKnatSon
David Barbour
Dan Boorman
Julian Davi50n
Adrian Edwards
Richard Gale
Jen
Geor
Dr Sarah Ann Hend
Investment Mana
er
Deputy Head. Bishopgate School
Private E
Mana
ement Consultant
om
any Director
HR Consultant
Head, Ham
19 November 2015
3 December 2021
2Au
U5t 2017
8 Janua
2020
11 September 2021
4 December 2018
27 June 2018
ton School
EÉI
Christine Lavert
James Owen
lisa Peacock
Chri5 Pollitt
Peter Scott
Dr Suman
31a Sornalin
Catherine Urch
Dr Richard Ward Ivite Chairl
Paul Williams
Chair
hartered Accountant
hartered
SuThe
orlFund
8arrister
House Master. Harrow School
Pro
ramme Direclor
retired
Medical Doctor
Medical Practitioner
ompany D1￿ctOr
econd Master. E
19 November 2015
6 July 2017
9 Janua
2020
23 June 2021
7 March 2023
24 June 2023
23 lune 2015
retired 24 Jul 2023
4 December 2018
21 March 2019 (retired 24 Jul 20231
Mana
ham
som Colle
Whilst responsibilityfor the daily management of the School rests with the Head. Governors retain overall responsibility
for all aspects of the School's overreaching Strate8ic direction and conduct. To assist in discharging this responsibility.
the Goverryors have created 5ub%Drnmittee5 to deal wth finance, developrnent, 5taffin8 and educational and pastoral
matters, as well a5 udhoc 8roup5 whenrequired.
Membershlps of committees durSn8 the year ended 31 Augusi 2023 and up to 7 December 2023 were..
Finance & Development Committee IFOC)
Julian D3vison (Chairl
Adrian Edwards
Richard Gale
Christine Laverty
Dr. Rithard Ward
Peter kott
Human Resources Committee
Jenny George (Chairl
Dr. Sarah Ann Hendry
Christine Laverty
Paul Williarns.
Safeguardln8 Comrnlttee
Dan Boorrnan (Chairl
Jenny George
Lisa Peacock
Dr. Sumangala Somalingam
Edu¢atlonal & Pastoral Commlttee IEPCI
Dr. Sarah Ann Hendry (Chairl
Jenny George
Katie Urch*
Chris Pollitt
Dr. Sumangala Sornalingarn
Nominations Committee
Health & Safety CommFttee
Jarnes Owen
Christine Laverty
Dr. Richard Ward
Bursarles and Publlc Benefft Commlttee
Ltsa Peacock Ichairl
Peter Scott
Katie Vrch*
Paul Williams.
'Retired

KING'S HOUSE SCHOOL TRUST IRICHMOfrIDI LTO
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
GOVERNORS AND CHARITYTRUSTEES Icontinuedl
Governors. Officers and Ad¥isers Icontinuedl
Kintys House School Enterprises Ltd IKHSEI is a wholly owned subsidiary of King's House School. incorporated to
manage the School's tradlng operatlons Iprlnclpally lettlngsl. The DI￿rtorS of the Company are.,
David Barbour
Louls Mather
Mark Silver
Appointed 1911112015
Appointed 101712018
(Chair.. Frtsm iil11120191
Appointed.. 1110612019
Appointed.. 2510412023
Cindy Yendell
Peter Scott
The Board of Governor5 15 a 5elf-appointed body, with a policy for selecting and recruiting new rnernbers. who are
elected to the Board by existing Governors. Service on the Board is a maximurn of two terms of four years. The same
arrangement applies to KHSE.
KEY MANAGEMENT PÉRSONNEL
Head
MarkTurner
Deputy Head
Head of Pastoral Care
Martin Shore
Alex Churcher
Head of Junlor Department
Head of Nursery
Bursar, Company Secretary and Clerk to
the Governors
Simon Gower
Jane O'Brien
John Loveland
The Head manages the day to day operation of the School through the Senior Management Team ISMTI. which
comprsses the key management personnel listed above. The Bursar mana8es the day to day operation of the Enterprise
Company through the Enterprise Mana8er.
Prlnclpal addres5 of Charlty
Prlnclpol address of Klng's House 5¢hool Enierprfses Ltd
68 Kin8$ Road
Richmond Upon Thames
Surrey
TWIO 6ES
68 King5 Road
Richmond Upon Thames
Surrey
TWIO 6ES
Websltes.. www.kin
www.kin
shwse5
shousekhool.or
ort
round.co.uk
OUR ADVISERS
Audltors
Haysma¢lntyre LLP
IOQueen Street Place, Lendon EC4R IAG
1st Floor. 39Threadneedle Street. London, EC2R 8AU
The Orlel, Sydenham Road, Gulldford, Surrey, GUI 3SR
Bankers
Utyyd¥TSB &nk pl
Moore Barfow Witltors
SollcltNs
knsuranEe Brok¢rs
￿ett￿Andrew$
2 Brunswicksquare. 81m)In8ham. 812LP

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT ANO ACCOUNTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
OBJECTS AND ACTIVITIES..
The Charitableobjects of the School are set out in itsTrust Deed and the main activitie5 undertaken to furtherthe charity's
purposes forthe public benefit are to carry on and develop King's House School in Richmond, Surrey and 3ny other school.
This includes the provision of boardinB andlor day 5choolin8 IOT children of elther sex anywhere in the world. Ancillary to
its main charitable purpose. the charity also rnakes its facilities. and particularly its playln8 flelds, available to local
residents, charltable organisatlons and schools.
Alms
Within these Objects, the School's strategic aims as an educational charity for children are..
To provide an environment where the pupils feel supported and safe, and where their welfare and safe8uardSng
are paramount.
To offeran educatioTh in which the pupils experience a high quality, broad and balanced currSculum, which engages
and challenges them whilst developing their knowledge. understanding and skllls across the areas of learning
Ilinguistic. mathematical. scientific. technological. human and so£ial, physical and aesthetlc and creative
education).
To attract and retain pupils who will benefit from and contribute to the education that is on offer at King's House.
4. To attract, support, retain and develop teaching and support staff of the hlEhest calibre, who will enhance the
provision to the pupi15 here.
5. To bulld and malntaln facilltles whlch enhance the education and care offered by the khool.
6. To ensure that the khool continues to be in a strong posStlon Ilnanclally, is efficiently run and 15 able to deliver on
its èirns whilst keeping the fees on an affordable footlng.
To enhance the reputation of Kin<s House school and to bulld stronger links with the wider community. including
parents and alumnl.
To meet and, where appropriate, exceed all required standards for a high-quality independent school.
The School is an equal opportunities employer, committed to a working environrneni that is free from dlscrimlnation and
will make reasonable 3djustrnentS to meet the needs of staff or pupi15 who are or become disabled. The School has an
equality. diversity 3nd inclusion IEDII working group made up of staff from various departments of the school, who meet
regularly with governors to focus on increas¢ng the diversity of staff and puplls and to ensure that all school practices and
opportunities are fair and transparent.
The School uses Common Entrance results and senior 5thool entry to monitor Its success and the performance of the
pupils rernains a Source of great sat15faction. particularly as the School Is non-selettive in the early year5, taking pupils of
all abilities into the Nursery and Reception years.
The School considers other rnea5ure5 of 5uEce55, such as individual and team sporting achievements and achievements in
perforrning arts, music, design technology anil art. The extent to which parents are involved in school lrfe is also
monitored. as the Governors consider parental involvement as key to the continued success of the School.
The School remains committed to working with the comrnunbty and seeks to increase pupil nurnbers travellin8 to xhool
by school Provided and public transport. Where thls is nor practicable. the School encourages pupils to cycle, walk or
share lifts with each other. This activity to minimize the impact on local traffic is reflected in the School's accreditatio
with the Transport for London STARS scheme.
Artivities
The objectives reflect the educational aim5 and the eth05 olthe School and the importance of maintaining and enhancing
its academic su¢¢ess. These objert¥ves are, however, set in the context of the broader goals Set for the School and it5
pupils. and a wide ran8e of extra<urri£ular activities is provided throughout the school.
In March 2023, the School announced it5 decision to extend co-education beyond the current Nyrsery. The first girfs will
be able to join Reception and Year l in September 2024, and co-education will then be phased in year-by-year. This
decision has Iieen driven by 8rowin8 demand from parents for a co-ed prep school in Richmond. In June 2023, the School
was inspected by the Independent Schools Inspectorate and was rated excellent Sn all areas ol educational quality and
met all areas of the complSance Inspection.

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
In setting the objectives and planning activities, the Board and Senior ManagementTeam havegiven careful consideration
to the Charity Commission's 8eneral guidance on public benefit and, in particular, to its supplementary public benefit
guidance on char8in8 for services. To underline the value placed on continuity for families. a discount Is offered to parent5.
The School continues to develop its outreach initiatives. induding bursary awards, and to maximise the use of its estates
and sportin8 facilities by others<hool andcommunitV8roups forthe benefit of children of both sexes, as well as promoting
5POrt in the community. The Bursaries and Public Benefit Committee review outreach initiative5 annuallyi including
bursary awards. A list of other schoo15 and community clubs is rnaintained and detai15 are logged on the Schoo15 Together
website.
The School is committed to safeguarding and promoting the welfare of the pupils and expects all staff and volunteers to
share th¢$ commitment. Parent5 are given re8ular information èbouttheirchildren's social and academic progress throu8h
parents, evenings, in additiorb to the traditional end of term and year report5. Regular contact with pa￿ntS is maintained
throughout the year through informal contact and through the biweekly newsletter. web51te and 50cial ￿edia platform5.
All pupils have a Form Tutor who is responsible for their pastoral care and academic development. In addition. within the
Senior Department there are dedicated Heads of Yearfrorn Year S upwards. and external speakers are invited tothe school
to speak to the pupils about personal and internet safety and a range of pastoral i5sue5.
The School offers a broad curriculum and is proud Df the advancement in recent years in areas such as computing, design
technoI08y, music, artand drama. Computln8 lstaught as a dlscrete sublertfrom Nursery onwards by a specialist teacher,
allowing pupi15 to add depth to their subject knowled8e, such as learning textual pro8rammln8 from Year S Ipythonl and
Year 7 IHTMLI. In design technology. learning is termly project based. incorporating theory and practical rnodules. Pupils
are exposed to technology through computer alded design IC4DI and computer aided manufacturing (CAMI. The Art
Departmenr has a fully functlDnSnÉ art studlo, equlpped with a klln to enable work on ceramics projects, as well as other
mediums such a5 print making, paintin& drawing and photoshop.
The Music Department is committed to providing a stimulating and chèllengin8 all-round musrc education. whllst tskins
care to identify and nurture individual talent and maximise pupi15' Potential. The 12 peripatetic teachers offer indlvidual
lessons sn piano, violin, cello, flute. clarineL saxophone, all brass, guitar. drum and voice. Many pupils tske part in ABRSM
exams and there are many co-curricular activrties such as ensembles. orchestra, rock bands and traditional choirs.
highlight in the year is the annual summer concert at the King's House School Sports Ground. Drama encourages every
boy to perform, be it in class. a55emblies or a5 part of a production. Drama is used to farilitate key social and
communicative skills and emotional literacy and we have two LAMDA qualified teachers w￿thin the tearn.
On the 5POrting front, the School continue5 to 80 from strength to strengthi participating in fè8ional football and cricket
competitions and boys representing the county. In football, the I" Xl finished 3rd in the Independent AsSOCl3tion of Prep
schools 7 a-side N3tional Finals. Rugby has been strong across the board, as evidenced by nurnerous ex-pupils going on to
achleve under-16 places at Harlequins and London Irlsh. In cricket, the school has a number of boys currently in trials for
the county representative teams and one boy has Éalned a Wlnehester Sports Scholarship. The School also had n¥0 boys
compete in the National Swimming F￿nal$.
Pupils are encouraged to contribute to the development of the school. aThd there are many opportunities for the pupil
voice to be heard. includin8 eco-teams, school council. house competitions. charity votes, year group forums and the
range of lunchtime clubs.
For the alumni, a reUn￿rt event was or8anised in June 2023, which irncluded formei teachers and parents. Over Itx)
people attended an evening reminiscing and catching up with old friend5 and colleague5. Over the last couple of year5,
there has been a focus on 8rowin8 the alumni database, to foster an engaged community and potential network of
volunteers and networkin8 Opportunities.
The khool has an envSronrnental commlttee made up of pupils from each year group in the Senior Department, who are
working on various initiatives as part of the Eco Schools accreditation scheme. The School holds the Eco-schools Green
Fla& which recognises the work done by pupils to make the school more environmentally friendly and raise eco-
awareness in fellow pupi15. The School continue5 to investigate ways to irnprove sustainability and reduce waste through
the use of biodegradable food containers in the dining rooms and green bin5 for recycling food waste. The waste
anagement Irecy¢lin8 partner can process much of the waste, for example, they have plastic, metal and glass recyclin&
anaerobic digesters, composting, gas to energy plant5 and refuse-derived fuel.

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS l¢onilnuedl
YEAR ENDED 31 AUGUST 2023
8ursory Pollcy
It is important to the School that access to the education offered is not restricted to those who can afford the fees. It is
the School's belief that puplls benefit from learnin8 Wlthln a diverse community and this is reflected in the provision of
bursaries.
The Governors view bursary awards as important in helping to ensure children from families who would otherwise not be
able to afford the lees. can acce5S the education the School offer5. Bursary Awards are available to all pa￿ntS18￿3rdlans
of children entering anv vear group from Year 3 up to Year 6 and are made at the discretion of the Governing Body on the
basis of parentsl means or to relieve hardship where a pupil's Education and future prospects would otherwise be at risk
Ifor exarnple in the Case of redun¢Jancyl.
The School has appointed an independent company, Bursary Administration knmited, to assess applications and make
recornrnendations for or against an award. The final decision on awards remains with the School. Information about fee
assistance through bursaries Is 3vatlable to all who apply to the School and is published on the website.

KING'5 HOUSE SCHOOL TRUST IRICHMONDI LTO
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ENDED 31 AUfjUST 2023
STRATEGIC REPORT
A5 in previous years, key objectives inclLtded:
To maontsln the present lowteacher: pupll ratlo, whlth thè School belleve5 8lvt5 pupilsthè ntt•ssarytlmetodevelop
academlc, sportln8. artlstl¢ and so¢lal skllls.
Measurement Ss easyto assess from pupil and staff numbers.
Pupil achievements in academic, sporting, music, drama, and
other activities SUPPDrt our belief in the benefits of
maintaining the ratio.
The ratio remains low at just undef l..10.
To malntzln the current hlgh standards of academlc achSevernent at Common Entrance and scholarshlp level.
To idèntify and support appropriatelythe academlc nted5 of the pupils.
The Common Entrance (Year 81 and stholarship re5uIt5
Iyears 6 and 81 are a measure of success. The leaving cohort
in 2023 achieved a total of 7 awards over a good range of
disciplines e.8. a¢adernic, sport5, music and drama, all
g3ined places at their chosen senior schools.
Performance is measured through educational assessment
tools which track individual pupil progress. Ongoin8 external
subjecr reviews assess the Quality ol teachin8.

KING'S HOUSE SCHOOI TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS l<ontlnuedl
YEAR ENOED 31 AUGUST 2023
STRATEGIC REPORT l¢ont5nuedl
To develop social and culturzl awareness in pupils through a programme of events to encoura8e greater social
awarenes$ and partldpation.
Other activities include assemblies, PSHE, external speakers
and outreach activities through the pupils, Charity
Committee.
Durlng the year, the School also supported charities Including
Shooting Star, Movember. MACS. Guide Does, Skylarks,
Richmond AID, Royal British legion, Stargardt, SPEAR and
Vineyaid Community. DonatK)ns totalled £13,902.
In addltlon to the mairn school activity, the khool continues
to foster relationships with the Cornrnunity by hosting
number of local residents. Cl￿bS and charity events in the
school buildlngs and particularly at the sports ground,
including the Riana Community 5urnrner 5POrting activities
and a partnership with the Civil Service Football Club forgirls.
football ¢oa£hin8.
FollowSng the 11ftSn8 of Covid-19 restrirtions, Maths
Ma5terclasses were restarted. to whith Year 6 pupils from
nei8hbourSn8 schools and members of the Royal Institute of
Maths are invited. to provide the rnost valuable experience5 for
the pupils.

KING'S HOUSE SCHOOL TRUSY IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNT5 Icontinuedl
YEAR ENDED 31 AUGUST 2023
RATEGIC REPORT lcontlnuodl
To Contributé to thè vrider community by enabling participation in a range of 5POrtrngi retreational and tdutational
artivitles.
As well as the Internal awards and external Branis, the School has focused on Increasin8 its publlc beneflt and community
outreach work at the sport5 groiJnd5. as that is where the biggest ifflpact on the cornrnunity can be achieved. A number of
local state schools and community clubs have regular access to the facilities. either at a substantially discounted rate or
wlthout charge.
During 2022- 2023..
Inttrnal Awards
I pupil received means-tested bursarylhardshlp awards..
7 pupils received Sibling & Staff discounts=
£1,174
£14,202
Emternal Awards
A grant was made to RNC5F Isee belowl to support
disadvantaged chlldren in assisted boarding pla￿$..
£20,000
A grant wa5 rnade to a Ioc31 primary school
to 5UPPOrt the provision of sport and pupil welfare..
£25.634
A 8rant Wa5 rnade to The School and Farnily Works
social enterprise (see below) to fund one multi-farnily
therapy 8roup to support local children with Complex
needs to promote thelr success at school..
£20,0(KI
Continuznce of charitable support.
The School continues to support the Royal National Children's sp￿ngbOard Foundation IRNCSFI. through parental voluntary
contributions of £5,400 and a direct donation of £14,6￿, in its mission 'to improve and transform the lives of youn&
di5advaThtaged children by supporting their educational opportunitie5 in both state and independent boarding schools. By
doing thi5, we seek to improve their educational attainment. employability and aspirations,.
The School also supports The School and Farni￿ Work5 charty in their aim to 'offer flexible. therapeutic, £ornmunity based
services that enable 5choo15 and families to work together to help vulnerable children achieve educational success, via their
'transformlnE lives Initiatwe,. Through this partnership, the School has established a dlrect link with a local prSmary school
and Is funding a sports apprentice and pupil eounsellrng.
io

KING'S HOUSE SCHOOITRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YÉAR ENDED 31 AUGUST 2023
STRATEGIC REPORT Icontlnuedl
ACHIEVEMENTS AND PERFORMANCE
Pupllnumber5
Educatlonal actlvStSes for boys from the ages of 4 10 13 are tarried out in the Junior Department and Senior Department
buildings. In addition. the Nursery premises provide pre-school facilities for boys and girls aged 3 and 4. The Junlor an4Y
Senior Departments averaged 37712022.. 3721 pupils. Numbers in the Nursery averaged SO12022= 541.
A¢#deml¢
The School resolves to keep up the academic, sporting and artistic standards forwhich it has become known. and continue
the developrnent of it5 prernise5 to meet the needs of the pupi15 m¢)vsng forward. Atotal of 7 awards were achieved across
a range of disciplines including academic, music and sport.
Destination of pu pils.. day schools
Fiqure l.. Cornprlrison oAseniorschools (DA YJ 2022..2023
The chart labovel shows the mix of Senior day schools in 2022 and 2023 forthe Year8 Cohort. Atthe end of 2023, 8 pupils
moved on to St Paul's, 6 Pupils to Reed's, and 3 to Harnpton. The School is extrernely proud of the range and breadth of
day Schools selerted.
Of the Year 8 cohort, 28 moved on to senior day schools in autumn 2023, and 16 selected boarding schools.
Of the Year 6 leavers, the boys went to a selectien of day schools includin8 Brighton Colle8e, Emanuel, King's College
School. and St P3uI'5.

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS Icontlnuedl
YEAR ENDED 31 AUGUST 2023
STRATEGIC REPORT Iconlinuedl
Destination of pupils.. boarding
Figure 2.. Cornpt7rf50n olsenlorschools (BOARDIIIGJ 2022..2022
Boarding choices also vary year by year. In 2023, 16 pupils boarded, in¢ludSnE 5 to Epsom, 3 to Cranleigh and 2 at
Charterhouse.
As a non-selective school. the School is pioud that all its Year 8 boys gained places at their chosen schools. reflecting the
School'5 comrnitment to a broad curriculum which allow5 each pupil to achieve their potential.
Flnt7nclol Revlew
The main Source of incorne for the School is through fee incorne charged for the provision of education.
In the 2022- 2023 school year, the fee5 charged ranged from £2,720 for 5 moming5 in Nursery, £5,000 for Reception and
£6,530 in the Senior Department.
The maSn expenditure of the S¢hool is staff salaries. Staff are key to the ongoing success of the School and the S¢h¢)ol,
therefore. Eontinues to invest in the hi8hest standard of teaching and adrnini51rative staff. The School is also committed
to ensuring continued professional development for all staff.
Premises costs are the second rnajor expense of the School and. this year, further ￿n0¥atitsn work was undertaken both
at the 5POrts ground and the teaching sites in Richrnond.
12

KING'S HOUSE SCHOOL TRUST IRICHMONOI LTD
ANNUAL REPORT AND ACCOUNT5 l¢ontinuedl
YEAR ENDED 31 AUGUST 2023
STKATEGIC REPORT Icontlnuedl
Accounts Summary
Year endlng
August 2013
£7.493.496
£883.370
£8.376,866
£14,667.8671
£12,846,986)
£17.514.8531
£862.013
Year endlng
August 2022
£7.034,667
£443,609
£7.478.276
£14.380.7431
£12,817,020)
£17.197,7631
£280.513
Fee Income
Other Income
Total Sncome
Staff costs
Other costs
Total Expenditure
Net incoming resources on School activities
Trading Subsidiary
Income 8enerated through lettings
ExpendSture
Enterprise Cornpanls operating profit
Cornbined Surplus for the year
The parents have the peace
of mind of knowing that the
Board is continuing its
strategy of deploying all net
incoming
resources
to
investing in the educational
purposes and tsbric of all
the school sites, in line with
the School's Objects.
£860.832
El577,3901
£283,442
£1,145,455
£873.430
1£445.0011
£428,429
£708,942
As an educational charity, the School enjoys tax exemption on its educational activities and on its investment incorne and
gains, provided these are applSed for charirable aims. The School is entitled to an 80% reduction in busine55 rates on the
property occupied for charitable purpose5. The finaneial benefits received from these tax exemptions are all applied for
educational purposes and indirectly help masntain the bursary policie5 and public benefit attivlties.
Howeve¥, as an educatlonal charlty, the School is unable to reclaim input VAT on costs. as it ¢5 exernpt for VAT purp05e5.
The School also pays tax as an employer through National Insurance contrlbutions.
FU￿re Wons
The Board of Governor5 held their annual Vision Day in Ottober 2023, to revlew the present position of the School in
relation to the strategic Development Plan ISDPI and assess potential threats. weakne55es, opportunities and strengths
The Board has ratlfled the intention to continue the currentstrategies ol Maintaining the School'5 Posltion in 3 competitive
market by Investing to provide a high quallty education for the pupils. Achieving a high standard of acadernic re5uIt5 15
constant airn, whilst rnaintaining the breadth and depth of the educatSon prov4ded.
The major development project for the Senior Department remains a key prtority for the Board and plannlng permission
was formally granted on 10 June 2022. This scheme seeks to replace several poor-quality school buildings Wlth a state-of-
the-art rnusic. arts and teaching block. 5UPPOrted by a creative landscaping plan and some ￿furtsI$hMent works to the
existin8 buildin8S.
13

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS l¢ontlnuedl
YÉAR ENDED 31 AUGU5T2023
STRATEGIC REPORT Icontinuedl
Future Plons Icontlnuedj
The School Sees the key benefrts of this scherne as follows..
Better quality learning and teaching environrnent5 for pupils and staff and for those community group5 who benefit
from being able to use the School.
Greatly enhanced landscape around the buildings. providing additional native wildflower, shrub and tree plantin& as
well as flexible play spa£e and outdoor learning envlronments.
Rationalised and improved accommodation, which 15 easier to navigate, rnore accessible and inclusive for a wider
ran8e of user5.
8uilding5 constructed to rigorous sustainability crtteria and standards. resuhing in highly efficient and sustainable
buildings on site and contributing to reducing carbon use.
Heritage benefits, through the removal of unsightly buildin8S that have been added in a piecemeal way since the
main VictorLan buildin8$ We￿ constructed.
The profile of the 5POrtS 8round is to be increased through 3 prograrnrne of refurbishment and re-branding. in particular
to raise the recognition of the link with the School. New signage and advertisin8 across the site have been installed, as well
as the re-launch of the website. In recent year5. the School ha5 built a second Ru8by / Football 3G, a 'Gen2 ATP" multi-
use surface primarily for hockey. netball and tennis. new cricket nets, upgraded two tennis courts and re-surfaced the car
park. These facilities are for School and Community use.
The School has also taken into account the ￿QUestS from parents for extended'wrap around. care and currently provides
Ear￿ Birds startin8 at 8am and a range of after-school a£tivities until S,30prn.
Maintainin8 and. where necessary, developing the fabric and facilities of the School are central to its strategy. There is a
programme of planned maintenance and investment in the Icr network. Chromebooks We￿ introduced to Year 7 In
October 2019 and, with the success seen during the period of lockdownlremote learning, over the summer, the School
invested in additional Chromebooks for Year 6 and Year 8.
The School has alsotaken the opportunltyto refurblshthe central lobby In the Senior Department and upgradethe Nursery
outside spaces. With the announcement that the School w511 be taking girls into the Junior Department from September
2024, work is underway to ensure the buildings comply with regulation and provide a suitable co-educational
environment.
The School has rlecided to increase tuition fees for the acadernic year 2023-2024 by 5.5% to reflect the underlying
inflationary pressure lelt acr05S the cosi base. Fortunately, pupil numbers. overall, rernain good, but the risk of lurther
disruption both to the pupils. education or operation of the sports ground from Covid-19 or other factors beyond the
School's dtTert control, has made the School carefully consider any discretionary projects (see risk analysis below).
However, with stron8 cash reserves and no debt, the Governor5 are confident that the School wsll have sufficient cash
resources to continue to operate successfully in the current environment.
Rlsk Monogement
The Governors have a risk management strategy that comprises:
An annual review of the principal risk5 and uncertainties that the School faces..
The establishment of policies, systems and procedures to mitigate those risks identified in the annual review,.
The implementation of procedures designed to minimi5e or manage any potential irnpact on the School, should
those
risks materialise.
14

KING'S HOUSE SCHOOL TRUST IRICHM¢)NOI LTD
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ÉNDED 31 AUGUST 2023
STRATEGIC REPORT l¢ontlnuedl
Principul Risks
The Governors have coThsidered the prFncipal risks and uncertainties facing the School. The Risk Register is reviewed by
Governors in full once a year, and risks are considered at each governor meeting. An example of key risks identified during
the year is as follows..
Risk
Description l update
Political and Tax
Risks
Risk of VAT bein8 introduced on school fees via a Finance Act and removal of business rates
charitable relief180%1.
Increasing costs, primarily driven by the increases in Teachers, Pension provision* putting
additional pressure on fee increases and lon8 terrn affordability.
War in Ukraine and increased political instability globalty.
BREXIT uncertainty. Pupils frorn European countries (outside Russia) have increased in the
latest ISC census. However. long-term Brexit impact on the sector rernain5 unclear.
Pandemic
Pandemic resulting in School or year group closure and transition to remote
learning. Requests for fee discounts and affordability issues for parents.
Economic and
Operational
Risks
Rising inflation and cost of1Sving pressures, Smpactlng the affordabS11ty of prlvate educatlon
for parents and staff salary levels.
Demographic risk as parents cannot afford to live in Richmond or relocating further from
London.
Affordabillty of strate8ic development projects due to infflaiion and rising interest rates.
Tethno108Y
Increasing cyber-attacks across the sector. Ransornware Infertion from eKternal hacks.
The rnain funding of the School is through fee income and. therefore. uncertainties over future pupil numbers are always
a factor for consideration. In order to minimise this risk. the School has invested significantly In the marketing-buildin8
block5- required to improve pupil numbefs and develop the brand throu8h the web51te, social rnedia platforms and
targeted advertisin8 campaigns, The traditional method of ma8azine advertising and mail drop5 are not considered to be
productive and have been discontinued. except for one or tt¥o carefully chosen publications.
The changing political and economic landstape is Ckjsely followed ihrou8hout the year, particularly in relation to
5U88e5ted irnp05ition of VAT on School fees. Member5 of the Senior Mana8ement Team and Governors attend seminars
and èriefings throughout the year to keep abreast of industry issues.
The School participates in a number of industry survey5 to a5SlSt with setting fees and 5alarie5. In addition. the School
survey5 parents and staff regularly, and pupil feedback is obtained through a variety of Pupil Voice groups. These sutveys
are reviewed by the Finance and 5tafflnÉ Committees to Inform the Strate8Sc Development Plan and asslst Sn budget
setting.
The Governors have ensured that full insurance is in place to mitigate financial risk. The increasing risk of cyber-attack has
been assessed and additlonal insurance has been put into effect to mitigate the potential irnpact of Such attacks. Training
has been provided to all Siaff to raise awareness of the potential cyber risks both at school and at home.
15

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ENDED JI AUGUST 2023
STRATEGIC REPORT Icontlnuedl
PrinripulRisks Icontinuedj
The School works hard to ensure that debtors are well managed and the Finance Comrnittee reviews Outstanding debts
On a termly ba515. The School offers the option for parents to pay fees in advance to support the c3sh flow.
Through the Health and Safety Committee, risks to staff, pupils and visitor5 are considered. The Health and Safety
¢omrnittee review5 all 1￿c1dent report5 and considers the reports frorn independent specialists engaged to undertake
health and s3fety, fire and security audits of the school premises. Last year a health and safety audit was commissioned
by the School through an Independent consultancy, and fSndings and actions are were addressed during this academic
year.
The Safeguarding Governors undertake termly rewews to ensure that staff are familiar with all safeguarding pr¥tices and
prts¢edures and have beev adequately trained They a150 review the terrnly Complaint5 Report.
Cornpliance issues are considered by each Sub-committee. according to Its terms of reference.
POLICIES
Investment Polky
The Govemors believe that investment in the development of the School's facilities is a key priority and, accordinglyi make
limited external investments. The School continues to monitor the market value of its properties in relation to their book
Value. The School'5 bankers hold a charge in theform of a first legal mortgage over certain oftheschool's land and buildings.
Policie5 ondprocedure5
The School is grateful for Governor5, SUPPOrt in area5 of Child Protection and Safeguarding. Appropriate Safer Recruitln8
training has been undertaken by member5 of the Governing Body in order to help in area5 of recruitrnent and to rneet
current re8ulatory and inspertion guideline5. All Governors have received training in Safeguarding Children.
The School's CompliaTrce Officer en5ure5 that all re8ulatory poliries are kept up to date, and these and othe¥ Policies are
reviewed internally and emternally durin8the year as appropriate.
Re5eThes
The Board regularly review5 the General Fund and the designated funds to ensure that they are at appropriate levels. Two
designated funds are Set aside and built up each year. The Property Fund has increased in 2023 to £6,710.365. The Bursary
Fund has increased in 2023 to £109,146 after a transfer to it of £60,000 and awards made of £60.619. The General Fund
stood at £4,889,285 at year end.
Transfer5 are rnade to the Property Fund when there are SLtrplus funds available, to reflect the reinvestment of the School's
5urpluse5. In common with other independent schools. the Board has invested substantial Sums into new school building5
in recent year5 and ha5 a continuing prograrnme of refurbishment. redevelopment and investrnent to rnaintain excellent
teaching facilitie5 for our pupil5.
The purpose of the Bursary Fund 15 to offer a5515tance to boy5 who may benefit from independent educatrofi and to help
existing parents who may suffer sudden financial difficulties, Addicionally, the charity plans to continue developing Its
outreach initiatives, and to draw from the Bursary fvnd to support charities that are focused on improving the lives of
disadvantaged young Children.
The Board is comfortable that the cUr￿nt level of free reserves of £3,185.676 is sufficient to meet the operating
requirements of the School and is equivalent to approximately six months, expenditure. However, given the increasinglv
uncertain times, the 8oard has initiated a project to determine both a minirnum and target level of free reserves for ihe
School.
16

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT ANO ACCOUNTS l¢oniinuedl
YEAR ENDED 31 AUGUST 2023
STFLATEGIC REPORT Icontinuedl
Reserves l¢ontlnuedl
The Board considers that, given the strength of the tharlty's balance sheet, the stable cash flow from full student rolls, the
bank facility that can be called upon if the need arises and sts contlnuln8 popularity, the School has sufficient reserves to
continue as a 80ing concern in the future.
FUNDRAISING
The School is not reglstered wlth the Fundralslng Regulaiorand has not engaged In professlonal fundralsSng durlnE the year.
Any fundraising activities ald of charitles supported by the School and the Pupil's Charity Commlttee, are notified to
parents during the year through the blweekly newsletter, whlch Is emailed to parents. There were no complalnts received
during the year and the School has robusi policies in place re8ardln8 vulnerable people and treating donors fairly.
5TRucfuRE. GOVERNANCE AND MANAGEMENT
Governlng Document
The School is 8overned bythe charitable Trust Deed dating from 1957 and last arnended in 2009. The Articles of Association
were amended and updated in December 2018 and registered at both Companies Plouse and the Charity Commission.
Re¢rultmentand Trnlninq olGobErnor5
The Govemors are elected at a fvll fjovernin8 Body meetin8. Governors a￿ appointed by ihe Board for two terms of 4
years.
Procedures are in place to identify and recruit suitable individuals to provide stren8th and balance to the Board. Key areas
of expertise considered are education, finance, child welfa￿, le8al, property and human resources.
On appointment. Governor5 are inducted into the workings of the Charity, and briefed on their legal obligations under
charity and cornpany law. They are provided with a copy of the charity's Memorandum and Articles of Association, the
Board StTUCture, comrnittees and decision-making process.
New Governors are briefed on the recent financial and acadernK perforrnance of the School and trading subsidiary.
Governors are encouraged to attend. and do attend, events at the school, in-5chool training sessions and external 5erninars
held by the Association of Governing B(Klie5 of Independent Schools IAGBISI, the Independent khools, 8ur5ars' Association
(ISBAI and other professional bodies includin8 haysmacintyre and aeeredited child protECtion training. They have acce55 to
a variety of publications relating to 8overnanee and deVel￿rnentS in education, which are tirculated to all member5 of the
Governin8 Bodv.
Orqonisrtlon•lManagement
As trustees of the Charity, Governors determine the policy of the School, and are legally responsible for the overall
management and control of KinB'S House School. Dayto day mana8ement is delegated to the Senior Mana8ement Team.
17

KING'S HOUSE SCHOOL TRUST IRICHMONOI LTD
ANNUAL REPORT AND ACCOUNT5 l¢ontinuedl
YEAR ENDED 31 AUGUST 2023
STRATEGIC REPORT Icontinuedl
OrgJni$4tlOllolM#n#gement (¢ontlrtuedl
Sub Committee
8ursaiies and Publlt eeMfftCurnTnlllee
What it does
Meets bt a rninimurn once a year to review the School'5 buTsary and public
benefit provision and make recommendatlons for the follow*n8 year.
Educaikin & Pastoral Committee IEPC)
Meets each term to re￿eW the Schooys academic achievements and pastoral
care
Hnance & i)evelopmentCommlttee IF
Meets each term to review the financlal performance of the School.
Approve5 the annual budget.
R￿le￿5 the audited accounts and annual report for approval by the Board.
Revlews devekpment prolects and makes recommendatlons to the Board
based on the khool's Strateglc Development Plan.
Review5 the Risk Re8lSterannually, and as5es5e5 ri5b termly.
Human Re50ur¢es Commrttee IHRCI
Meet5 each term to review tErrns and conditions of employment lincludin8
rernunerationl of all staff including key pery)nnel.
Provides an alternative forurn for personnel Issue5 Outside the usual
mana8ement procedu￿.
Heahh & Safety Commthe IHSCI
Meets each terrn to Teview issues relating to healt￿ safety and welfare of
pupils. staff and visitors.
Reviews policies and ensures procedures are effectNe.
14omlnatiofis Committee INCI
Meet5 annualty to a55e55 the Governor5, self-evaluation questionnaires.
Reviews Governors. ski115 matrix and plan5 recruitmentof Governors.
SakBuardlni Comfflltle¢
Meets each term to review all 5afeEuardin8 is$￿5 and policies and SinEle
Central Register. Ensuresthat all staftarerecrulted In accordancewlththe Safer
Retruitment Policy.
E￿ureS that Safegvarding matters are effectively dealt with.
Conducts audits to ensure all staff are aware of Safeguarding procedures and
practlces.
Rel•tedp¢¥rtles
None of the Governor5 receive remuneration or other benefit from theirwork with the School. Any contractual relationship
must be disclosed and notes of irsterest are retained in written form.
Many of the Govemor5 are parents of former pupils of the School. however. it Is a Board policy that no current parents are
recruited to join the Board.
As a cornpany limited by guarantee. the School has set up a Register of Persons wrth Significant Control. The company
knows or has reasonable cause to believe that there is no re8lStrable person or registrable relevant legal entity in relation
to the company.
The School incorporated King'5 House School Enterprises Ltd, a wholly owned subsidiary cornpany. to manage the lettin8S
of the various school properties, most $18nificantly the King'5 House Sports Ground. the leasehold of which was acquired in
2010 and was extended in 2020. The Enterprise Board compri5e5 a minimurn of one Governor of King's House School and
leasi two independent Oire¢tors. The Board meets terrnly to review the Enterprise operation and financial perforrnance
and Makes recommendations to the school 8oard through the FDC for development of the facilities. The Mead and the
Bursar attend all meetings of the Enterprise Board. The sub5idiary'5 mission 15 to provide sporting, recreational. social and
other facilities foi the pupils of the school and for the wider cofflmunrty, to rnitigate the c05ts of running the grounds. and
the Enterprise Company accounts are consolidated into the School's Annual Accounts.
Kin¥s House School Enterprises Limited has recorded the School as a Perso# with Si8nifi¢aftt Cofitrol.
18

KING'S HOUSE SCHOOL TRUST IRICHMONDI LTD
ANNUAL REPORT AND ACCOUNTS Icontinuedl
YEAR ENDED 31 AUfjUST 20Z3
STRATEGIC REPORT Icontinuedl
Poypollcylorsenlor5tsff
The School operates banded salary ranges for all teaching staff. including Senior staff. The banded ranges are benchmarked
agaSnst other Sndependent schools which are registered with ISC. Non-teaching Senior staff salary leve15 are compared to
other appropriate benchmarks. This allows the School to remain an attractive employer in the independent school sertor.
The bands are reviewed annually and, generally, an inflatSonary Sncrease Is applled. Thls is dependent utK)n the financlal
sucC￿S of the charity and increases being offered in similar school5.
GOVERNORS, AESPONSI8ILmES IN RÉLATION TO THE WNANCIAL STATEMENTS
The Governors (who are also dSrectors of the charltable company for the purposes of company lawl are responsible for
preparing the Governors, Report and the financial statements in accordance with applicable law and United Klngdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practlcel, includlng the Charities SORP and Financial
Reporting Standard 102.
Company law requires the directors to prepare financial statements for each financial year. which give a true and fair view
of the State of affairs of the charitable company and Group and of the Incoming resources and application of resources.
includin8 the income and expenditure of the Charity and Group forthat period. In preparing these financial statements. the
trustees are required to..
Selett suitable attountin8 ptslicies and apply them consistently.,
Obsetve the method5 and principles in the Charities SORP IFRS 1021..
Make judgements and estimates rhat are reasonable and prudent.,
State whether applicable UK Accountln8 Standards have been followed, subjecr to any materlal depèrtures
disclosed and explained In the financlal statements., and
Prepare the accounrs on the going concern basls, unless it Is Inapproprlate to assume that the company wlll
continue in operation.
The trustee5 are responsible for keeping proper accounting records that disc105e. with reasonable accuracy at anytime, the
financial position of the Charity and Group and enable them to ensure that the financial statements Comp￿ with the
Companies Art 2006. They are a150 responsible for safeguarding the assets of the Charity and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
As directors, they also conflrm that there is no relevant audit informaiion of which the companvs audTtors art unaware and
they have made all necessary enquiries and taken such steps that they ought to, to ensure that they become aware ol anv
relevant audit information, and they confirm that the CharSVs audltors have been made aware of such Informatlon.
Thls Annual Report, which incorporates the Strategic Report, was approved by the Board of Governors of King's House
School on 7th December 2023 and slgned on Its behalf bv=
Chrls Laverry
Chair of Governors
19

INDEPENDÉNT AUDITOR'5 REPORT TO THE MEMBERS AND GOVERNORS OF
KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
Opinion
We have audited the financial statements of Kin<$ House School Trust IRSchmondl Limited forthe year ended 31 August 2023
which cornprise the Group Statement of Financial Activities, the Group and Parent CharStable Company Balance Sheet, the
Group Staternent of Cash Flows and notes to the financial statements, including a summary of slgnificènt atcountlng policies.
The financial reportingframeworkthat has been applied in their preparation isapplicable law and United Klngdom Accouniing
Standards, including Financial Reporting Standard 102 The Finonciol Reporting StandtJrd upplicoble in the UKund Republic of
Ireland Iunited Kingdom Generally Accepted Accounting Practicel.
In our oplnSon, Ihe financial statements..
8fve a true and fair view of the state of the group and parent charitable cornpany'5 affairs as at 31 August 2023 and
of ihe group and parent charitable compan15 net rnovement in funds, including the income and expenditure. forthe
vear rhen ended,.
have been properly prepared In accordance wSth Unlted Kingdom Generally Accepted Accounting Practice: and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basi5 for opinion
We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responslbSlltles under those stsndards are further described in the Auditorfs responsibilities for the audit of the financial
statements settion of our report. We are independent of the group in accordance with the ethical requirements that are
relevant to our audit of the financial statements in the UK. including the FRCS Ethical Standard. and we have fulfilled our
other ethlcal responsibS1itles in accordance with these requirement5. We believe that the audit evidence we have obtained is
sufficient and approprSate to provlde a basis for our opinion.
Concluslons relatlngto goSng concern
In auditingthe financial statements. we have concluded that the trustees. use of the Rolng concern basls of accountlng In the
preparation of the fsnancial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relatlng to events or conditions
that, individually or collectively, may cast Sl6nificant doubt on the group or parent charitable company's ability to continue as
a golng concern for a period of at least twelve months from when the financial 5tatement5 are authorised for issue.
Our responsibillties and the responsibilities of the trustees with respectto golng concern are described inthe relevant section5
of this report.
Other Snforrnatlon
The trustee5 are responsible for the other information. The other informatlon comprises the Informatlon Included In the
Trustee5' Annual Report. Our opinion on the financial statements does not Cover the other Information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assurance £onclusion thereorn.
In connectron with our audit of the financial 5tstement5, our responsibility is to read the other information 3nd, in
doin8 $0, consider whether the other information 15 materially inconsistent with the financial statements or our
knowledge obiained in the audit or otherwise appears to be materially rnis5tated. If we identify such material
Inconsisiencie5 or apparent material misstatements. we are required to determine whether there is a material
mlsstatemeni In the financial staternent5 or a rnaterial rnisstaternent of the other information. If. based on the work
we have performed, we conclude that there is a Tnaterial mi55tstement of this other inforrnation, we are required to
report that fact. We have nothin8 to report in this regard.
Opinions on other matters pres¢rlbed by ihe Companies A¢t 2Th)6
In our opinion, based on the work undertaken in the course of the audit.
the information given in the Trustees, Annual Report (which Includes the strategic report and the directors, report
prepared for the purposes of company lawl for the finanual year for which the financial statements are prepared Is
consistent with the ffnanclal statements,. and
the strategic report and the directors. report included within the Trustees, Annual Report have been p￿pa￿d in
accordar*ce with applicable legal requirements.
20

INOEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND GOVERNORS OF
KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
Matters on whith we are requlred io report by exception
In the light of the knowled8e and understandin8 of the 8roup and parent charitable company and its environment obtained
in the course of the audit, we have not iijentified material misstatements In the Trustees, Annual Report Iwhi¢h incorporates
the strate8ic report and the directors. ieportl.
We have nothin8 to report in respect ctf the followin8 matters in relation to which the Companies Act 2006 requires us to
reprjrt to you if, in our opinion..
adequate accounting records have not been kept bythe 8roup and parent charitable company,. or
the group and parent charitable company financial statements are not in agreement with the accounting record5
and returns,. or
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees for the financial statements
As explained more fully in the tru5tees' responsibilities statement setout on pages 19, the trustees (who are also the directors
of the group and parent charitable company for the purposes of company lawl are responsible for the preparation of the
linancial statements and for being Satisfied that they give a true and fair view, and for such internal control as the trustees
deterrnine 15 necessary to enable the preparation of financial statements that are free from rnaterial rni55t8tement, whether
due to fraud or error.
In preparing the financial staternents. the trustees are responsible for as5e55in8 the group's abilfty to continue as a going
concern, disclosing, a5 applicable, Matter5 related to going concern and using ihe goinR concern basis of accountinE unless
the trustees either intend to liquidate the group or parent char¥table company or to cease operations, or have no realistic
alternative but to do $0.
AudltoVs responsibilltles forthe audlt of the finan¢lal #￿ments
Our objectives are to obtain reasonable assurance about whether the financial 5taternents as a whole are free from material
mi5Statement, whether due to fraud or error. and to Issue an auditorfs reportthat includes our opinion. Reasonable 355urance
is a high level of a55urance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a
material misstatement when it exists. mi5ststement5 can arise from fraud or error and are Considered material if, individually
or in the aggregate, they could reasonably be expected to influente the economic decisions of users taken on the basis of
these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedufes in line ￿th
our responsibilities, outlined above, to detect material misstatements in respecr of Irregularities, including fraud. The extent
to which our procedures are capable of detetting irregularlties, includJnK fraud is detailed below.
Based on our understanding of the group and parent tharitable company and the environrnent in which it operates, we
idertified that the principal risks of non-compliance with laws and regulations related to employment law, safeguarding
regulatiortrs and Charity and Company law, and we considered the extent to which non-cornpliance might have a material
effect on the financial statements. We also considered those laws and regulations th3t have a direct impacton the preparation
of the financial statements such as the Companies Act 2Tr)6, Charities Act 2011 and Charitie5 SORP.
We evaluated management's incentNes and opportunities for fraudulent manipulation of the financial statements lincluding
the risk of override of controls). Audit procedures performed by the en83gement tearn included,.
Inspecting minutes of Trustees, meetings."
Reviewing the latest Independent Schools Inspectorate IISII reports-
Inspecting correspondence with regulators and tax 3Uthorities-,
Discu5510ns wilh management ir*cluding consideration of known or s￿sPected in5tancEs of non-compllance with laws and
regulation and fraud,.
Evaluatin8 rnana8ement's controls designed to prevent and detect irregularities,.
Identifying and testing journals., and
Challengin8 as5UrnPtions and judgements made by managernent in their critical accounting estirnate5. These related to
depreciation and bad debt provisions.
21

INDEPENDENT AUDITOWS REPORTTO THE MEMBERSAND GOVERNORS OF
KING'S HOUSE SCHOOL TrVST IRICHMONDI IIMITED
Because of the inherent lirnitations of an audit, there 15 a risk that we will not detect all irregularities, including those leadin8
to a material misstaternent in the financial statement5 or non-compliance with regulztion. Thi5 risk increa5e5 the MO￿ that
complian£e with a law or regulation is rernoved from the events and transactions reflected in the linarncial 5tatefflents, as we
will be les5 likely to becoffte aware of instances of non-cornpliance. The risk 15 also greater re8ardin8 irre8ularitie5 oc<urrin8
due tts fraud rather than error, as fraud inVo￿e5 intentional concealment, for8ery, collusion. offli55ion or mi5repre5entation.
A further description of ￿r responsibilitles lor the audit of the financial statements is located on the Financial Reportin8
Council's website at.. ww%v.frc.or
onsiblities. This des¢riptSon forms part of our auditorfs report
Use of our report
This report is made Sole￿ to the ¢haritable company's members, as a bodyj In a¢¢ordance with Chapter 3 of Part 16 of the
Cornpanies Act 2006. Our audit work has been undertaken sothat we mi8ht state to the charitable company's members those
matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest ektent permitted by
law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's
rnernbers, as a body. for our audit work. for this report. or for the opinions we have formed.
c£s
Kathryn Burton Isenior Statutory Auditor)
For and on behalf of Hay5macintyre LLP, Statutory Auditor5
Date..
12th December 2023
10 Queen Street Place
London
EC4R IAG
22

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Ilntludlnl intome and ex￿ndIture account)
FOR THE YEAR ENDED 31 AUGUST2023
Unrestricted funds
General
Designated
2023
Total
2022
Total
Notes
INCOME FROM
Charltable activltles
School fees receivable
Other income
7.494.670
499,435
11.1741
7.493,496
499,435
7,034,667
396,741
TradSn¥ artlvftles
880,794
880,794
898,493
Inv*stm•ni Incomt
74,453
74,453
2,468
Donatlons
21,044
8,447
29,491
19.337
surplus on sale of property
260,029
260,029
Total Income
9,230,425
7,273
9,237,698
8.351,706
EXPENDITURE ON
Ralskng funds
299,795
299,795
170,027
Charitable a¢t*vitles
Education and 8rant makin8
7,731,829
60,619
7,792,448
7,472,737
Totol expendlture
8,031,624
60,619
8,092,243
7.642,764
Net income before transfer
1,198.801
153.3461
1.145.455
708.942
Transfers
17
11.532.429)
1,532.429
Net income
1333.6281
1,479.083
1,145.455
708,942
Balance brought forward
5.222,913
5,340,428
10,563,341
9,854.399
8alance carried forward
17
4.889,285
6.819.511
11.708,796
10.563,341
All artivities are continuing.
There were no recognised gains or losses other than those shown in the above Statement of Financial Activities.
The Statement of Financial Activitie5 lorthe cornparative period is presented in note 22.
Donations Incorne includes £2.500 12022-. £5,0001 of restricted donations which were ful￿ spent before the year end in
accordance with the relevant restrictions. These have not been Separately disclosed due to beln8 Immaterial.
23

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
ON50LIDATED AND CHARITY BALANCE SHEET Re8lstered Company No. 590559
AS AT 31 AUGUST 2023
2023
2022
Group
School
Group
S¢hool
Notes
INVESTMENTS
li
1,000
TANGIBLE FIXED ASSETS
io
8,413,974
8,385,444
6.848,427
6.828,846
CVRRENf A55ET5
Debtors
Cash at bank and in hand
12
13
524,208
5.781,725
349,901
S.610,3S8
477.119
5.541.720
343.609
5.215.827
6.30S.933
5,960.2S9
6,018.839
5.559.436
CREDITORS: amounts due within one year
14
11.756,7111 11,696.9821 11,178,675) 11.151,3511
NET CURRENT ASSErs
4.549.222
4.263,277
4,840,164
4,408,085
TOTAL A55ETS LESS CURRENT
LIABILbTIE5
12,963.196
12.649,721
11.688,S91
11.237.931
CKÉDITORS.. amounts due after one year
15
11.254.400) 11.254.41X)I 11.125,2501 11.125.250)
NET ASSETS
11.708.796
11.395.321
10,563.341
10,112,681
REPRESENTED BY:
Unrestricted Funds
General
Non CharItab￿ tradlng funds
4,575,810
313,475
4,575,810
4,772,253
450,660
4.712.253
li
i?
17
4,889,285
6,819,511
4,575.810
6,819.511
5.222,913
5.340,428
4.772.253
5.340.428
Designated
11,708.79S
11,395,321
10,563,341
10,112,681
King's House School Trust (Richrnondl Limited has taken the exernption from pre5entin8 It5 un£onsolidated statement of
financial activities under section 408 01 the Cornpanies Act 2￿6. The net movement in fund5 of the CharSty was a surplus of
£1,282.64012022.. £547,603).
The financial statements were approved and auth0ri5ed for issue by the Board 7 December 2023 and signed on its behalf
by..
C Laverty
The accompanylng notes on pa8es 25- 38 form part of these financlal statements.
24

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
CON50LIDATED CASH FLOW STATEMENT
YEAR ENDED 31 AUGUST 2023
2023
2022
Notes
Cash Ilows from operating activitie5
Net income
Interest received
Interest payable
Depreciation charge
ISurplusl/loss on disposal of fixed assets
Ilncreasel in debtor5
Increase/ldecreasel in £redltors
1.145,455
174,4531
380
353.766
1260.0281
147,0891
759.829
708.942
12.4681
1.761
355.240
420.632
1147,8861
1356,1961
Net ¢a$h prgvlded by operaiinK a¢ti¥ities
1.877,860
980.025
Cash flows from investlng actMile$
Purchase of tangible fixed assets
Proceeds from sale of tangible fixed assets
Investment incorne
11,969,667)
310,382
74,453
1393,9391
Net cash used in investing activltie$
11,584,832)
1391,4711
Cash Ilows Irom flnanci￿ actI￿tieS
Repayment of loan
Inteiest paid
152.6431
13801
1104.1581
11.7611
Net ¢a5h used In byfinanclng a¢tlvftles
153,0231
1105,9191
Net movement in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
240,005
5,541,720
482,635
5,059,085
Cash and cash equlvalents at the end of the perfod
13
5,781,725
5,541,720
Anatysl$ olcash and cash equlvalents
At 31 Au8USt
2023
At 31 August
2022
Cash at bank
13
5,781.725
5,541,720
5,781.725
5.541,720
Analysls of ¢han8•5 In net dèbt
At start of year
Cash flows
At end of year
Cash at bank
Loans
5,541,720
152,6431
240,005
52,643
5,781,725
Net debt
5,489,077
292,648
5,781,725
The accompanying notes on pa8es 26- 38 form part ol these flnancial statements.
25

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITÉD
NOTESTQ THE FINANCIAL 5TATEMENT5
YEAR ENDED 31 AUGUST 2023
ACCOUNTING POLICIES
AcuJuntln8 ¢onventlon
The financial statements have been prepared In accordance wlth the Financial Reporting Standard applicable in the VK
IFR51021, the Companies Act 2006 and the Statement of Recommended Prattiie for Charities ISORP 20151 (Second
Edition, effedive l January 20191. Flgures are presented in sterling and rounded to the nearest pound. The Charbty is a
Public Benefit Entity as defined by FRSIO2.
The accounts are drawn up on the hSstorlcal cost basls of accounting, as modified by the revaluation of investments.
Crltlcal accountln8lud8ements and key sources of estimatlon uncertaintv
In the application of the accounting rM)licies, Governors are required to make judgernenL estimates, and assumptions
about the carrying value of assets and liabilities that are not readily apparent from other source5. The estirnate5 and
underlwng assumptions are based on historical experience and other factor5 that are considered to be relevènt. Attual
re5uIt5 May differfrom these estimates.
The estimates and underlyirnE assumptions a￿ reviewed on an ongoln8 basis. Revisions to accounting estimates are
reco8ll15ed in the period in which the estimate is revised il the revision affects only that perlod, or in the period of the
revision and luture periods if the revision affected current and future periods.
In the view of the Governors, the only assumptions concerning the future or estimation un￿rta1Thty affecting asset5 or
liabilities at the balance sheet date are depreciation and bad debt provisions.
1.1 Consolidation
The accounts consolidate the results of the Trust and Kinds House School Enterprises Limited, a separately ￿gIstered
and incorporated company. for the year ended 31 Augu512023. KinB'5 House School Trust (Richmondl Limited has taken
the exernption frorn pre5entin8 Its uncon501idated staternent of financial attivities under settion 408 of the Companies
Att 2006.
1.2 Goln8 Con¢•rn
The Governors Consider that there are no material uncertainties reg3rdin8 the charity's ability to continue as a going
concern. The Governors have reviewed budgets and associated cash now forecasts and consider there to be no material
ncertainties about the charitys ability to continue as a going concern.
1.3 School fee5
Fees receivable and charges for 5ervice5 and use of premises are accounted for in the period in which the Service is
provided. Fees receivable are stated after deducting allowances and other remi55ion5 granted by the School, but include
contributions received from Designated Funds for bursaTie5 and other grant5. Fee5 r￿e1ved ITh advance of education to
be provided in future years under an Advance Fee Payrnent5 Scheme contract are held as intere5t-bearin8 liabilities until
either taken to income in the term when used or else refunded.
IA Investment incorne
Investment incorne tnclude5 interest on bank balances, which are accounted ftir an accruals basis.
1.5 Donations income
Donation5 are accounted for as and when entitlernent arise5. the amount can be reliably quantified and the economic
benefit to the School is considered probable. Donations for purposes restricted by the wishes of the donor are taken to
'restricted funds" where these wishes are legally binding on the Trustees.
26

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTES TO THE FINANCIALSTATEMENTS {¢ontinuedl
YEAR ENDED 31 AUGUST 2023
ACCOUNTING POLICIES Icontlnuedl
L6
Expenditure
Expenditure 15 accounted for on accruals basis.
Trading costs comprise expenditure incurred by Kinls House School Enterprises Limited in the normal course of
busine55.
Finance Costs comprSse interest payable on the School's borrowlngs and associated charges incurred.
Charitable activities costs represent costs direttlyassociated with the provision of education and related supportC05t5.
including governance costs.
Governante Costs tomprise the costs of running the Charity. including strategic planning for its future development.
external audit, any legal advi¢e for the School's Governors, and all the costs of complying with constitutional and
statutory ¥equirements, such as the costs ol Board and Committee meetings and ol preparing statutory accounts and
satisfying public accountability.
1.7 Flxed assets
Depreciation is provided on freehold buildings over frfty years after allowing for the residual value of the property.
Long leasehold property is depreciated over the remaifting period of the leases and after carrying out appropriate
irnpairment reviews.
Depreciatlon is provided on other fixed assets to write off their cost over their estimated useful lives at the following
rates..
Furniture, fittings and equipment
Microcomputers and equipment
Motor vehicles
- 4% to 20% on cost
- 33 113% on cost
- 25% on cost
Investments
Investments. comprising wholly owned subsidiary, 15 valued at C05t less provision for impairrnent.
1.9 Cash at bank and in hand
Cash at bank and cash in hand include5 cash and short terrn hi8hly liquid investments with a short maturity of three
months or le55 from the date of acqui51tion or openin8 of the deposit or similar account.
1.10 Creditor5 and provision
Creditor5 and provision5 are reco8nised where the charity has a present obligation resultingfrorn a past event thatwill
probably result in the transler of funds lo a third party and the amount due to settle the obligation can be measured
or estimated reliably.
1.11 Financial in$trument$
The charity only has financial assets and financial liabilrfcies of a kind that qualify as basic financial instrurnent5. Basic
financial instrument5. includin8 trade and other debtors and creditors are initially recognised at transaction value and
subsequently measured at their settlement value. Cash is measured at fairvalue through the statement of financial
27

KING'5 HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTES TO THE FINANCIAL STATEMENTS lcontlnuedl
YEAR ENDED 31 AUGUST 2023
ACCOUNTING POLICIES Icontlnuedl
1.12 Fund ac¢ounting
Property Fund
Where Gener31 Funds are surplus to requirements, transfers are made to the Desi8nated Funds to build up a Property
Fund. The purpose of this policy is to reflect the lact that the General Fund has been used to finance property used
fof School purposes.
Bursary Fund
Amounts are set aside for any awards made to children from families who would otherwise not be able to afford the
fees to access the education we offer, and for parents facing temporary financial hardship. This fund is also used to
support Charities that improve the Iwes of young disadvantaged children.
1.13 Pensions
The School contributes to the Teacher5, Pension Defined Benefit5 Scheme at rate5 set by the Scheme actuary and
advised to the Board by the Scheme Adrninistrator. The Scheme is a multi-employer pension scheme and the khool
does not have any commitmentto contribute to anydeficit or receive any surplu5 arising on the scheme. In accordance
with FRS102. therefore. the Scheme 15 accounted for as a defined contribution scheme. The School also operates a
money purchase scheme for non-teaching staff. Contributions are chafged to the Statement of Financial Activities as
incurred.
1.14 Operatlng lea$es
Rentals payable are charged on a time basis over the lease term, even if the payments are not made on such a basis.
Benefits received 3nd receivable as an incentive to sign an operating lease are similarly Spread on a straighi-line basis
over the lease terrn.
1.15 Forelgn turrency translation
The charitie5 functional and presentation currency is pound sterling. Monetary assets and liabilities denominated in
foreign currencies are translated into Sterling at the rates of exchange ruling at the balan<e sheet date.
Transattions in foreign currencles are recorded at the rate ruling at the date of the transaction. All differences are
recoEnlsed in the SOFA.
1.16 Employee termlnatlon payments
Termination payments are accounted for when the decision is rnade and cornrnunicated to the employee,
28

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTES TO THE FINANCIAL STATEMENTS l¢ontlnuedl
YEAR ENDED 31 AUGiIST 2023
CHARITABLE ACTIVITIES- FEES RECEIVA8LE
2023
2022
Fees re¢elvable Conslst of:
school fees
Less. Total grants and allowances
Total bursarles
7,508,872
114,2021
11,1741
7,070,902
124,8001
111.4351
7,493,496
7,034.667
CHARITABLE A￿1vITIES- OTHER INCOME
2023
2022
Extras
Disbursernents recovered
Registration fee5
Deposits written off
72.668
404,067
19.200
3,500
72.901
286.097
11,793
25,950
499,435
396,741
OTHER TRADING A￿1VITIES
2023
2022
Tradlng Income
860.832
19.962
873,430
25,063
Aental income
880,794
898,493
INVESTMENT INCOME
2023
2022
Investment in¢tsmt
Bank interest
Fee5 interest
74,038
415
2,288
180
74,453
2,468
GRANTS AND DONATIONS
2023
2022
Donatlons to the TNst
Friends of Kinls House School
Other donations
19,242
10.249
5.227
14.110
29,491
19.337
29

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTES TO THE FINANCIALSTATEMENTS l¢ontinuedl
YEAR ENDED 31 AUGUST 2023
ANALY515 OF TOTAL RE50VRCES EXPENDED
Stsff
Costs
2023
Total
2022
Total
Depre¢lation
Support
Raising funds
Tradin8 Costs
Finance costs
107,303
6.999
182.088
3.40S
296.390
3.405
164,001
6,026
107,303
6.999
185.493
299.795
170,027
Charitable activities
Educotiort and gront fftoking
Teachin8
Catering
Premises, repair and malntenance
Support costs and govemance
Grants (see belowl
3,651,509
593,610
397,096
1.155,655
570,834
60,619
4,245,119
397,096
1,739.899
1.349.715
60.619
3,855,612
364,248
1.957.714
1.2S9.576
35,S87
237,477
778,881
346.767
4,667.867
346.767
2.777,814
7,792.448
7,472.737
Tot31 ejrpendfture
4.775,170
353,766
2,963,307
8,092,243
7,642,764
Grants to support disadvanta8ed chlldren at other Schools Include.. £25,634 to a local Prlmary School, £20.000 to
The School & Family Works org3niiation and £14.600 to the Royal National Children's Springboard Foundation.
See note 23 for the comparative analysis of resources expended.
Z023
2022
G¢wernante expendlture comprb5e5'.
Auditors rernuneration- audit services
othev Services
14,300
3,575
12,600
No remuneration mèy be or has been paid to any Governor or connected person durlng the year esther dSrettly or
indirectly. No Governor5 were reimbursed expense512022.. None). The Governors malntaln Sndemnity insurance of up
to £5m.
STAFF COSTS
2023
2022
Wages and salaries
Social security costs
Pension contributions (note 211
3.797.435
391.696
$86.039
3.522.970
372.416
567.906
4,775,170
4.463.292
30

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
STAFF COSTS Icontinuedl
2023
2022
The average nurnber of ernployees duringthe yearwas..
Teachin8
Other
41
64
104
105
The number (>f ernployees who had err￿l￿rnents exceeding £60,tM)O were..
£60,001- E70,￿0
£70.001- E80.1￿10
£iOO,ODi- £iio,ofKJ
£190,￿1. £2￿,0c
£200,LK>I. £210,LfO
Aggregate remuneration and employee benefits paid to key management personnel durin8 the year were £767,89112022..
£723,395). There were no redundancy or termination payments during the year.
TAXATION
The School 15 a registered charity and no tsxation is payable on its charitable income.
10. TANGIBLE FIXED ASSETS: GROUP
The movement of tan8iblelixed assets were a5 follow5..
Furniture
FrÈÈhold
land and
buildints
Long
leasehold
property
cOmp￿tr$
and
equipment
and
equipment
Motor
vehicle
KHSG
Borehole
Total
COST
At I September 2022
Additions
Disposals
7,639.391
1,645,821
98,950
3.￿3,482
262.048
141,4051
359,033
52,323
116.232
9.474
112,214
11,329.302
1,969,666
1121,3551
179,9501
At 31 August 2023
9,285,212
19,0(M)
3.224.125
411,356
125,706
112,214
13,177,613
DEPRECIATION
At I September 2022
Charge for the year
Eliminated on disposal
2.451,8r6
123.042
1,535.935
178,196
141,4021
310,269
37,560
90,482
3,264
43,784
11.704
4,480,875
353,766
171,0021
129,6001
At 31 Au8ust 2023
2,574,847
19,Cthl
1,672,729
347,829
93,746
55,488
4,763,639
NET BOOKVALUE
At 31 Au8USt 2023
6,710,365
1,551,396
63,527
31,960
56,726
,413.974
At 31 August 2022
5,187,586
50.350
1.467,547
48,764
25,750
68,430
6.848.427
The School's bankers are holdln8 a first le8al mortga8e over part of the School's freehold land and bulldlngs as security for a
loan and overdraft facilitv.
A small amount of fiktures and fittings are held within King's House School Enterprises ￿mIted. The total cost of these a55et5
is £57.44212022.. £41.4941 Includlng addltlons of £15.94812022.. £9,336). Attumulated dèpreclatlon for the year of £28,912
12022.. £21,913>, Including a charge of £6,99912022.. £4,825). The net bookvalueof these assets was therefore £28,53012022..
£19,5811.
31

KING'S HOUSE SCHOOL TRUST IRICHMONDI UMITED
NOTES TO ThE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
11. FIXED ASSET INVESTMENTS
The School owns 100% of King's House School Enterprises Limited. registered company Thumber 07261424, which
provides sporting, leisure 3nd other facilities and services. The company is registered in the United Kin8dom. During the
vear. the company donated £420,62712022.. £267,090> donated in relation to 20221 of it5 taxable profits to the school.
The School charged £281.00012022.. £281,000] for a license to Use the premise5 which the school leases. The balance
owing to the School to the company at 31 August 2023 was £8512022.. £4.807 from the Schooll. Its tradin8 resulis
extracted frorn its audited accounts for the year ended 31 Au8U5t 2023 were..
2023
Z022
Turnover
Expenditure
Donation to Kin8's House School
860,832
1577,3901
1420,6271
873,430
1445,0011
1267,0901
ILossllpfoflt for the year
1137,18SI
161.339
Interest in Kinls House School Enterprises Limited
Reserves
1.000
313.475
i.￿0
450.660
Aggregate capital and reserves
314.475
451,660
Balanc• sheet
1023
2022
Fixed asset
Current Assets
Current liabilities
28.S30
345.759
159,8141
19,S81
464,210
132.1311
Net assets
314,475
451,660
Net assets include share capital of £l.OCKI.
12. DEBTORS
Group
2023
khool
Z023
Group
2022
School
2022
Fee debtors
Prepayments and accrued Income
Other debtors
Amounts due from 8roup companies
92,100
421,404
10.704
92,100
247,012
10.704
85
70,085
402,184
4.850
70,085
268.674
4.850
524.208
349.901
477,119
343.609
CASH AND CASH EQUIVALENTS
Group
2023
School
2023
Group
2022
Sclhjol
2022
Cash at bank
5,781.725
5.610,358
5.541,720
5,215.827
32

KING'S HOUSE SCHOOL TRUST IRICHMONDI UMITED
NOTESTO THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 51 AUGUST 2023
14. CREDITORS: amounts due wlthln one year
Group
1023
School
2023
Group
2022
School
202Z
Bank loan
Other taxe5 and social security
Accruals
Trade creditors
Other creditors
Deposits
Deferred incorne-lees in advance
Amounts due to Broup cornpanies
S2.643
114.477
224.542
294.099
27,803
128,339
336.772
52.643
106,110
211,524
284,103
27,053
128,339
336,772
4.807
102.881
371,770
734,436
71,971
123,550
352.103
95.497
361,885
734.243
29,704
123.550
352.103
1,756.711
1,696,982
1,178,675
1,151,351
15. CREDITORS: amounts dve after one year
Group & School
2023
2022
Dep051ts
1.254.400
1,125.250
16. BANK LOANS
Group & School
2023
Z022
MATURITY OF DEBT
Within one year
Two to five years
52,643
S2,643
7he bank loan and overdraft fac￿litY were secured by a charge overcornmercial freehold property owned by the School.
The bank loan bore interest at a rate of 1% over Bank of England base rate. which increased to 1.75% during 2022. The
bank loan was repaid in full during the year.
33

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIM￿ED
NOTES TO THE FINANaAL STATEMENTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
17. FUND MOVEMENTS
At
I September
2022
At
31 August
2023
Income
Expendlture
Transfers
Unrestricted Funds
General Fund
5.222.913
9.230.425
18.031.624) 11.532,4291
4.889.285
Designated Funds
Property fvnd
Bursary fund
5,237,936
102,492
1,472,429
60,000
6,710,365
109.146
7,273
160.6191
10,563,341
9,237.698
18,092,2431
11,708,796
A5 at 31 August 2022
At
I September
2021
At
31 AutU5t
202Z
Income
Expenditure
Transfers
UnrestrKted Funds
General Fund
3.996.589
8,349,031
17,607,177)
484,470
5,222,913
Designuted Funds
Property fund
Bursary fund
S,782.406
75,404
1544,4701
60,000
5.237,936
102,492
2.675
135.5871
9.854,399
8,351.706
17,642,764)
10,563.341
Property Fund
Where General Funds are surplus to requirements, transfers are made to the Property Fund to build up a Property
Fund. The purpose of this pol*¢y is to feflect the fact that the General Fund has been used to finance property used
for School purposes.
8ursary Furbd
Amounts are set aside for any awards made to children trom families who would otherwise not be able to afford the
fees to acce55 the education we offer. and for parents facing temporary financial hardship.
NET ASSETS BY FUNDGROUP
TanBible
fixed assets
Net currerrt
a55ets
Lon8 term
Total
fjeneral Fund
Designuted
Property fund
Bursary fund
1.703.609
4,440.076
11,254.4001
4,889.285
6,710,365
6,710,365
109,146
109,146
8.413,974
4.549,222
11.2S4.4001 11,708,796
As at 31 August 2022
General Fund
Oesignoted
Property fund
Bursary fund
1,610.491
4,737,672
11,125.2501
5.222.913
5,237.936
5,237,936
102.492
102,492
6.848.427
4.840.164
11,125,250)
10,563.341
34

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTES TO THE FINANCIAL STATEMENTS l¢ontlnuedl
YEAR ENDEO 31 AUGUST 2023
19. OPERATING LEASE COMMITMENTS
At 31 August 2023, the School's and group's future minimum operating lease payments are as follows..
Group and khool
2023
2021
Operatlng leases whl¢h explre:
Within one year
In two to five years
Greater than five years
132,906
497,165
4,980,000
133,251
504,831
5.100,0(K)
5,610,071
5,738,082
Total costs incurred during the year in respect of rent31 costs for assets held under operating leases were £133,251
12022.. £133.9481. The school is party to a long-term operating lease with the London 8orough of Hounslow for the
Kin(5 House School Sports Ground, Clubhouse and other buildings on the site in Duke'5 Meadow, Chiswick. The
lease was restructured In March 2020 and will expire in March 2070.
PENSION SCHEME
The School participate5 in the Teachers, Pension Scheme 1.the TPS"I for its teachin8 Staff. The pension char8e for the
vear include5 Contributions payableto the TPS of £457.08512022.. £437,575) at the year-end £Nil12022- £Nill was
accrued in respect of contributions to this scheme.
The TPS is an unfunded mutti-employer defined benefits pension scheme governed by The Teachers, Pensions
Regulations 2010 las amended) and The Teachers. Pension kheme Regulation$ 2014 las amended). Members
contribute on a "pay as you go" bas15 With contributions from members and the employer being credited to the
Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the
Government Actuar¢5 Department. The most recent actuarial valuation of the TPS wa5 prepared as at 31 March 2016
and the Valuation Report. which was published in March 2019. confirmed that the ernployer contribution rate for the
TPS would increase from 16.4% to 23.6% from I Septernber 2019. Employer5 are also required to pay a Scheme
administratlon levy of 0.08% giving a total employer contribution rate of 23.68% lit has been confirmed that the total
employer contribution rale will increase to 28.68% from April 20241.
The 31 March 2016 Valuatlon Report was prepared in accordance with the benefits set out In the scheme re8ulaisons
and under the approach specified In the Oirertions, as they applied at 5 Mar<h 2019. However. the assumptions were
considered and set by the Department for Education prior to the rulSng in the'M¢(loudlsargeant case. This case has
requlred the courts to consider Cases regarding the implementation of the 2015 reloims to Public Servlce PensSons
Includlng the Teachers, Pensions.
The TPS 15 subjert to a cost cap mechanlsm whlch was put In place to protect taxpayers acalnst unforeseen changes in
scheme costs. The Chief Se<￿tary to the Treasury, havin8 Sn 2018 announced thatthere would be a ￿VieW of thls cost
cap mechanism. in January 2019 announced a pa￿e to the cost cap mechanism following the Court of Appeal's ruling
in the Mccloudlsargeant case and until there was certainty about the value of pensions to employees from April 2015
onwards. The pause was lifted in July 2020, and following a public consultation in 2021. the Government have
accepted three key proposals recommended by the fjovernment Attuary. and are aimin8 to Implement these chan8es
in tirne for the 2020 valuations.
35

KING'S HOUSE SCHOOL TRUST IAICHMONDI LIMITED
NOTES TO THE FINANCIALSTATEMENTS I￿ntInued}
YEAR ENDED 31 AUGLIST 2023
PENSION SCHEME lconiinuèd)
The 2016 cost control valuations were completed in January 2022, and the results indicated that there would be no
changes to benetits or member contributions required, The results ol the cost cap valuation are not used to set the
employèr contribution rate, and HM Treasury has indicated that any Changes to the employer contribution rate
resulting from the 2020 valuations will take effect in April 2024.
Vntil the 2020 valuation is Completed it Is noi possible to conclude on any financial impact or future Changes to the
contribution rates of the TPS. Accordin8lvt no provision for any additional past benefit pension costs is included in
these financial statements.
The School also operates a Group pension Kheme lor non-teaching staff which is a defined contribution scheme with
employee5 contributing 5% and the School IO%12022.. 5% and IO% respectively). The total contributions payable by
the School in the year were E124.105 12022.. £124,967). A5 at 31 August 2023 amount5 totalling £16.410 12022..
£13.6281 were due to the Scheme and are included within other creditors.
21. RELATED PARTY TRANSAcnoNS
Kin8's House Enterprises Limited is a wholty owned subsidiary of Kinls House Schotsl Trust (Richmond) ￿Mited. At the
year*nd there wa5 an amount due tc King's House School Trust (Richmond) Limited of £Nil12022.. £Nill in ￿Spect of
profits gift aided to the school by the subsidiary companv.
The daughter of one trustee was employed on a permanent contract during the year as a nursery assistantThe trustee
was not involved in the decision to employ her or set her remuneration.
No Governors had any other related party transactions with the 8roup during the year12022.. Nil).
36

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTESTO THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
COMPARATIVE CON50LIDATED STATEMENT OF FINANCIAL ACTNITIES
Unrestrlrted funds
General
DeslÉnated
20Z2
Total
INCOME FROM
Charitable activltle5
School fees receivable
Other income
7,046,102
396,741
111,43SI
7,034,667
396,741
Trading artivitle$
898,493
898,493
Investment Intome
2.468
2.468
tk*natlon$
5.227
14,110
19.337
Total In¢ome
8.349,031
2.675
8.351.706
EXPENDMJREON
Raising funds
170.027
170,027
Charltable artivities
Education and grant makin8
7.437.150
35.587
7.472.737
Total expendiwre
7.607.177
35.587
7,642.764
Net Income before traNfer
741,854
132,9121
708.942
Transfers
484,470
1484,4701
Net Income
1,226,324
1517,3821
708,942
Balance brought forward
3,996,589
5,857,810
9,854,399
Balance carried forward
5,222,913
5,340,428
10,563,341
37

KING'S HOUSE SCHOOL TRUST IRICHMONDI LIMITED
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 AUGUST 2023
23. COMPARATIVÉ ANALYSIS OF TOTAL RESOURCES EXPENDED
ANALYSIS OF TOTAL RESOURCES EXPÉNDED
Staff
Costs
2022
Total
Depreeiation
Support
RaisTrng funds
Trading costs
Finance costs
82.549
4.825
76.627
6.026
164,Wi
6.026
82,549
4,825
82,653
170,027
Charltsble actl¥f¢les
Educution ondgrt7nt moking
reaching
Catering
Premises, repair and maintenance
Support costs and governance
Grantslsee beSowl
3,388,951
466,661
364,248
1.354,017
521.066
3S,587
3,855,612
364,248
1,957,714
1,259,576
35,587
253,282
738.510
350.41S
4,380,743
350.415
2,741,579
7.472.737
Total expendlwre
4,463,292
355,240
2,824,232
7,642,764
38