Charity registratlon nurnber: 312691 GEORGE GREENS SCHOOL TRUST FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 GEORGE GREENS SCHOOL TRUST FUND Page Legal and admlnlstratlve Informatlon Tru5tee5' report Independent examlner's report Statement of financlal attlyltles 8alance sheet Notes to the finandal statements 9-18 GEORGE GREENS SCHOOL TRUST FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr. W Everard CBE Ms. L Wllllams Mr. A W D Roberts M5 Laura Denholm MrGOLon8 Charity nurnber 312691 Registered office Geor8e Greens Secondary School 100 Manchester Road London UK E14 3DW Independent examlner Price Bailey LLP 24 Old 8ond Street Mayfalr London WIS 4AP 6ankers CCLA Bordler Rathbones National We5trnlnster Bank PLC GEORGE GAEENS SCHOOL TRUST FUND TRU5TEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present theSr annual ￿port and financlal stalernents for ihe year ended 31 March 2025. The flnanclal statements have been prepared In accordance wlth the accountlng pollcles set out In note I to the financlal statements ond comply with the Charlty'5 governlng document, the Charitles Act 2011 4nd "Accountln8 and Reportln8 by Charltles: Stalement ol Recommended Practlce applicable to charltles preparln8 thelr accounts In accordance with the Flnanclal Reportln8 Standard appllcable In the UK and Republic ol Ireland {FRS 102) {effective l January 2019).. Objectlves. artlvltle5 and •¢hl•vements The oblecl of the charbty Is the provlslon of Items and facllltles for George Green's Secondary School In addition to provldln8 flnanclal ass55tance to students enterlng further educatlon. The trustees confimi that they have referred to the guldance contained In the Charlty Commlsslon's general 8uidance on publlc benefit when reviewinB the charlty's aims and objectives and In plannlng future attlvities. The charltles admlnlstered In connectlon wlth the chafSty and under the same Scheme have the specific objects as set out below. The tfUStee5 (who provlde their services without charge) work closely wlth the school to ascertaSn the needs of the puplls and of the school. The trustees are very pleased to note the progress of the school and its continued Improvement year by year whlch has been helped by the speciflc donatlons that the trustees are able to make to Improve the educatlonal facilitles available to the puplls of the school. George Green's S¢hool Foundailon Objects: to provlde 8rants to puplls In need of asslstance to take part In school actlvitles,, to provlde certaln leaving exhibitions: • to provlde for certaln facllitles for games, muslc and school educatlonal vS51ts; to art for the Foundation in respecl of its land and buildlngs. Durln8 the year grants totalllng £75,C(Q have been made to certaln students goln8 to unlverslty. Further 8fants 01 £20,833 have been made for educatlonal vlslts. In additlon. £98.466 ha5 been pald as Brants to the school to enable the students to beneflt from varlous projects and equlpment such as Chromè Books. books for the En8llsh Department, the Flrst Story Programme. the Access Prolect and the Thlnk Forward project, and the Open Mlnds Projeet. As a matter of pollcy, the Trustees seek where posslble to fully fund these awards SQ that the students do not have to make any flnanclal contribution.The feedback from the school and the students benefitted by these awards ha5 been excellent and the Trustees are very pleased to note that the puplls of the school contlnue to attaln excellent levels of academlc success. Frances Davldson Bequest Object: to provlde holSdays for Blrls at the school who are In need of ass15tance or those startln8 thelr careers. No grants have been made durln8 the year. GEORGE GREENS SCHOOL TRUST FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH ZOIS Ullun lknyScholarJhlp Object.. • to award scholarships for the beneflt of puplls and former pupils of the school bein8 female and not exceedlni 25 years of a8e. to enable them to train in medicine. dentistry, medical servlces or veterinary sur8ery. with a Preferen￿ In ihat order. Elght grants of £4.51XI each have been made to former pupils to enable them to study nursln& medlclne, midwifery and veterinary science. Geory• Gr••nS S¢hool Prfz• Fund Object.. to award prlzes Sn accordance wlth various exlstin8 trusts. No grants have been made durln8 the year. K&8.Fund Object: to aSSiSt present and past students not exceedlng 25 years of a8e tra¥ellin8 abroad to fvrther their education. No 8rants have been made durlng the year. Nnanclal revlew ind future plans The overall finandal outcome for the year wa5 a surplus of £37,465 {2024: surplus of £91,908). The Trustees are satisfied that the finances of the charity afe now on a firm footing and wlll alm to spend all of Its income In the comlng year on Its charitable oblects. The Trustees have adopted a policy of assistin8 Students of the school with their further educatlon and apprenticeship training by makln8 bursaries avallable to them. The Trustees Pfopose to revlew and contlnue thSs pollLy where appropriate. The Trustees also wlsh to contlnue to provlde asslstsnce for school trlp5 and to enhance the laciiiiles and educatlon available to puplls at the school. ReseN•s poll The Trustees alm to malntslfi reserves of unrestricted funds at a level whlch equates to approxlmately 12 months of unrestrlcted expenditure. The Trustees conslder th15 tar8et has been met. GEORGE GREENS SCHOOL TRUST FUND TRUSTEES, REPOAT FOR THE YEAR ENDED JI MARCH 2025 Inv•stments Pollry The deeds of the present school, the Old School at East Indla Dock Road and Mlllwall Park are vested In the officlal Custodian of Charltles who holds the property as custodians lor the Trustees. A nornlnal value for the present school and Mlllwall Park ha5 been Included In the accounts. Thls is based on current usa8e of the propertles. The Trustees are of the oplnlon that as these two assets can only be used for educatlonal purpose5 It would be an unnecessary empense and dfaln on the funds of the Trust to have them professlonally valued. The value of The Old School at East Indla Dock Road has been revlewed by the Trustees followln8 the grant of the lease to Poplar Housing and Regeneratlon Association pursuant to an Agreement dated 16th March 2018, The Trustees have obtalned an Independent Valuatlon of thls property as at 31st March 2022 and have concluded that this valuatlon Is approprla¢e. The Trustees have Invested fund5 wlth Rèthbones. 8ordler and the CCLA. Rlsk M*nag•m•nt George Green's school Trust Fund's strategy is overseen by its Trustees by its mana8ement and 8ovemance arrangements. In the pursult of Its strategy. the George Green's School Trust Fund laces two maln types of strategic rlsk which need active management. These are.. Financial • Reputstlonhl The responsibility for risk management ultimately belon8S to the Trustees. The organisation's Chairnian and the other Trustees ￿present the Interests of the organ15atlon on a day-to-day basls in this respect. Strudur•, gowrn•nce •nd m4naym•nt The Charlty 1$ governed by a Scheme approved by the Chaflty CommSsslon on 9 September 2008. Prlor to that date the charity wa5 8overned by the previous Scheme dated 13 September 1997. Before that the charity has r¢)0ts 8oln8 back to 1828 when George Green founded his school In Poplar. The Charlty's re8Sstered number IS 312691 and the Re81Stered Office 1$ 38 Elms Avenue London NIO ZIP. The Trustees comprfse flve foundatlon governors. The Trustees who served durlng the year and up to the date of $18nature of the flnanclal statements are as follows- Mr. W Everard C8E Ms. L Willlam5 Mr. A W D Roberts Ms Laura Denholm MrGOLon8 The bodies entltled to appoint Trustees are circulated with Invitations to nominate Trustees piior to any vacancy, advising them of the vacancies and the requirement for any speclalist skills needed. GEORGE GREENS SCHOOL TRUST FUe4D TRu￿EES, REPORT FOR THE YEAR ENOED 31 ￿A(H 2025 Tru$t8• Inductlon and trJlnlng A new Trustee Is provided wlth Inductlon help and assSstance from the exlstlng outgo5n8 Trustee prlor to his or her appolntment who can offer guidance and answer queries. New trustees Usually have close connectlon5 Wlth George Green'5 School or rapldly develop connectlons. servlng as governors of the school. The Chaimian of the Trustees provides Informatlon on thelr leÉal responsibilitles, the Trust's governin8 documents and strate8lc plan. TN#tse• rniponslbllltl•• The Trustees are responslble for preparing the Trustees, Report and the flnanclal statements in accordance with applicable law and Unlted Kln8dorn Accounting Standards (United Kingdom Generally Accepted Ac¢ountin8 Practitel. The law applicable to charltles in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and falr vlew of the state of affairs of the Charlty and of the Incomlng resources and applicatlon of resources of the Charlty for that perlod. In preparing these financial statements. the Trustees are required io.. Selert sultable accountln8 polScles and then apply them conslstently; Obser4e the methods and principles in the Charitles SORP120191: • Make jud8ments and estimates that ère reasonable and prudent.. State whether appllcable accounting Standards have been followed. subjecr to any materlal departures disclosed and explained In the financial statements; Prepare the financlal statements on the 80in8 toncem ba51s unless It Is Inapproprlate to presume that the Charity will contlnue In buslness. The Trustees are responsible for keepin8 proper accountlng records that dlsclose wlth ￿asOnable accurary at any time the flnancial posltion of the Charity and enable them to ensure that the flnanclal statements comply wlth the Charities Act 2011. the Charlty (Accounts and Reports) Re8ulatlons 2008 and the provlsions of the constitution. They are also responslble for safeguardin8 the a55ets of the Charlty and hence for taking reasonable steps for the prevention and detectlon of fraud and other Irregularities. The Trustees, report was approved by the Boèrd of Trustees. Ms Laurd Oenholm Chalr of Trustees Date -11112r INDEPENDENT EXAMINER'S REPORT TO ThE TRUSTEES OF GEORGE GREENS SCHOOL TRUST FUNO I report to the charity trustees on my examlnatlon of the accounts of the charlty for the year ended 31 March 2025 whlch are set out on pa8es 7 to 18. RMpon8lblllU•A •nd ba•lJ of rnport As the charltr2 8,894 148.437 197.062 Total expendiiure 197,062 9.136 206,198 157,331 Net 8alnslllossesl on Investments 23,413 119,6631 25.969 29.719 37,011 Reclasslfication ol funds 1119,4821 146,163 126,6811 Net movement Sn funds 1119,4311 134.790 22.105 37.464 91.908 Fund balances at l April 2024 347,673 256,157 4.8CQ.472 5.404.302 5.312,395 Fund balances at 31 Marth 2025 228,242 390.947 4.822.577 5,441.766 5.404.303 The statement of finand•l artlvltles Indudes ?118alns and105ses reco¥nlsed In the year. JI Income and expendlture dertve from contlnulng actSvltles. GEORGE GREEN5 SCHOOL TRUST FUND BALANCE SHEET AS AT 31 MARCH 2015 2025 2024 Notes Flxed assets Investment propertie5 Investments 3.965,CrfXI 1.397.491 5,362,491 3.96S.IX(I 1.3S6,158 5.321.158 io Current assets Cash at bank and In hand Other debtors 42.637 43,238 85.875 89,29S li 89.295 rJedltor5: amounts fallln8 due wfthln one year 12 16.6ts)1 {6.1501 Net current assets 79,275 83,145 Totsl assets le55 current Ilabllltle5 5.441,766 5.404.303 Capftal fun¢ts General endowment fvnd5 Fair value reserve 1,612,577 3.210.0(M) 1.590.473 3.210.IYXI 14 4,822,577 4,8(Kl.473 Income fvnds Restricted funds Unrestricted funds 390,947 228.242 256.157 347.673 5.441,766 5.404.303 The finandal rtaternents were approved by the Trustees on 1511212025 Ms Laura Denholrn Trustee GEORGE GREENS SCHOOL TRUST FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20Z5 l Accouniln8 polldes Charlty Infomiailon George Greens School Trust Fund Is a Charity governed by a Scherne approved by the Charity Commission on 9th September 2LX)8. 1.1 Accountln8 conventlon The financlal statements have been prepared In accordance with the Charlty's governin8 document. the Charities Act 2011 and 'Accounilng and Reporting by Charltles: Statement of Recommended Practice applicable to charities prepar5n8 thelr accounts in accordance with the Financial Reportlng Standard appllcable in the UK and Republlc of Ireland IFRS 1021 leffect￿e l January 20191'.The Charity Is a Public Benefit Entlty as defined by FRS 102. The Charlty has taken ad¥•nta8e of the provlsions In the SORP for charities applying FRS 102 Update Bulletln I not to prepare 3 statement of Cash Flows. The flnanclal statements are prepared In sterllng, whlch Is the lunctional currency of the Charlty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical c05t convention. modlf led to include the revaluation of freehold properties and to include Investment properties and certain financial instruments at fair value. The principal accountin8 policies adopted are set out below. 1.2 Golng concern At the tlme of approvlng the flnanclal statements, the Trustees have a reasonable expectation that the Charity has adequate resource5 to continue In operatlonal exlstence for the foreseeable future. Thus the Trustees continue to adopt the 80in8 concern basis of accountin8 in preparln8 the financial statements. 1.3 Charltable funds Unrestrlcted Income funds are general funds that are avallable for use at the trustees, d15cretlon In furtherance of the objectives of the charity. Restricted funds are those donated for use In o portlcular area or specific purposes. the use of which Is restricted to that area or purpose. Endowment funds are subJert to speciflc conditlon5 by donors that the capital must be malntalned bv the Charity. GEORGE GREENS SCHOOL TRUST FUND NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2025 1.4 Income Income15 recognlsed when the Charlty Is legally eniiiled io It after any performance condltlons have been met. the amounts can be measured rellably. and It Is probable that Income wlll be received. Cash donatlons are reco8nlsed on recelpt. Other donatlons are recognlsed once the Charity has been notified of the donation, unless performance conditions requlre deferral of the amount. Income tax recoverable In relatlon to donatlon5 recelved under Glft Ald or deeds of covenant is reco8nlsed at the tlme of the donation. Investment Income Is recognlsed on a recelvable basls. 1.5 Empendlture Liabilities are recognised as 500n a5 there is a legal or constructlve obligation committin8 the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headin85 that aggregate all costs related to the cate80ry. Charitable expenditure comprises those costs incurred by the charity in the delivery of Its actlvitles and servlce for Its beneficlar5es. It incudes both costs that can be allocated directly to such artivities and those costs of an indirect nature necessary to support them Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with condition5 for its payment being a specific level of service or output to be provided, such grdnts are only reco8nised In the SOFA once the recipient of the grant has provlded the specific service or output. Provisions for8rants are made when the Intention to make a grant has been communlcated to the recipient but there is uncertainty about either the timin8 of the grant or the arnount of grant payable. Support wsts Support costs Iwlthln expenditure on charltable actlvltlesl Include the costs of the preparatlon and audit of the statutory accounts, the costs of trustee meetin8s and the cost of any legal advice to trustees on governance or constitutlonal matters. io GEORGE GREENS SCHOOL TRUST FUND NOTES TO THE FINANaAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2025 1.6 Investr￿t propertles Certaln of the propertles used by the charity ore held for long-term Investment and so are Induded as Investment property on the balance sheet. No depreciatlon Is provided In respect of Investment propertles and they are shown at fair value in the accounts. The lair value of the investment properties has been determlned by the Trustees at the balance sheet date based on future rental values and usa8e of the properties. together with an Independent valuation. The surplus or deficit on any revaluation of investment properties 15 transferred to the falr value feseThe unless a deficlt below orlginal cost. or its rwiersal. on an individual Investmenl properry Is empeaed to be perrnanent. In whlch case It Is fecogn15ed In the statement of finandal acifvitles for the year. L7 Rxed asset Investm•nts Fixed asset investments are initially measured at transactlon price excludlng transaction costs, and are subsequently measured at falr value at each reportlng date. Changes In falr value are reeo8nlsed in net income/lexpenditurel for the year. Transactlon costs are expensed as Incurred. Those Investments whlth conslst of Ilquld cash balances are Included wlthln cash at bank and In hand wlthln cuffent assets. Reallsed galns and10sses on Investrnents are calculated as the dlfference between the sale proceeds and their market value at the stsrt of the year, or thelr subsequent cost. and are char8ed or credited to the statement of financial activitie5 in the period of disposal. Unreallsed 8ains and losses represent the movement In market values durlng the year and are uedlted or thaT8ed to the ststement of financial activities based on the market value at the year end. IA Cash and osh equlvalents Gish and cash equlvalents Indude cash in hand, deposlts held at call wlth banks and other short-term liquid Investments wlth orlglnal rnaturltles of three months or less. li GEORGE GREENS SCHOOL TRUST FUND NOTES TO TrIE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2015 1.9 Flnandal Instruments The Charity has elected to apply the provlslons of Sectlon 11 '8aslc Flnanclal Instruments, and Section 12 '0ther Flnancial Instruments15sues' of FRS 102 to all of its financlal instruments. Flnanclal instruments are recognised In the Chanty's balance sheet when the Charlty becomes party to the contractual provlslons of the Instrument. Financial assets and Ilabilitles are offset. wlth the net amounts presented In the financial statements. when there is a legally enforceable right to set off the recognlsed amounts and there is an intention to settle on a net basis or to realise the asset and settle the Ilability sSmultaneously. 8aslcflnanclal ossets Basic financlal assets which represent cash and bank balances and debtors are measured initially based upon cash held and settlement amount after any trade discounts or amounts advanced bythe charity re5pectivelv. Bq51cflnan¢lal Ilabllltle5 8asic financial liabilities. which represent creditors and accruals are Initlally reco8nlsed at settlement amount after any trade discounts or amounts advanced to the charity. Derecognltlon olflnonclal Ilobllltles Flnancial liabilities are defeco8nlsed when the Charity's contractual obll8atlons explre or are dischafged or cancelled. 2 Crftlul accountlng estlmates and Judgements In the application of the Charity's accountin8 policSes, the Trustees are required to make judgements. estimates and assumptlons about the carryln8 amount of assets and Ilabllltles that are not readily apparent from other sources. The estimate5 and associated assumptions are based on historical experience and other lactors that are consldered to be relevant. Actual results may dlffer from these estlmates. The estimates and underlyln8 assumptions are revlewed on an ongoln8 basls. Revlslons to accountlng estimates are recognised In the period In whlch the estimate is revised where the revision affects only that period, or in the perlod of the revlslon and future perfods where the revlslon afferts both current and future perlods. Key y>urus of estlmatlon uncertalnty Valuatlon of land and bulldln8s Valuatlon of lènd and bulldlnB5 In the accounts15 based partly on an Independent valuatlon of the previou5 School buildlng at East Indla Dock Road whlch Is partly based on future rental values and the Trustees, estimation of values of the land at Manchester Road and the old railway arches at Millwall Park. The value of Manchester Road Is based on land not Used by the school wlth some future development potentlal. The Trustees have estlrnated thls value based on thelr knowledge of $5mllar land in the local area. The value of the old fallway arches In Millwall Park has been estimated by the Trustees based on the fart that there are no Immedlate development prospects for this area. The values of each element of the Investment property Is revlewed each year. 12 GEORGE GREENS SCHOOL TRUST FUND NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2025 3 Invertment Incorne Unrestrlrted funds 2025 Aestrlcted funds Z025 Endowment funds 2025 Total 202$ Rental income Interest receivable 173,701 173.701 40.242 8.290 31,952 173,701 8,290 31,952 213,943 Unre5trlrted funds 2024 Re5tr1cted lunds 20Z4 Endowment funds 2024 Total ZOZ4 Rental income In¢erest receivable 173,951 173.951 38.277 29.469 173,951 8.808 29.469 212.228 4 Charftsble acthiltles 2025 2024 Grants for educational visits Grants for unr4ersity Students Grant for First Story &Book Buu Projects Grant for Think Forward Project Grant for school equipment Access Projects 20.833 75,1XY) 16,LXT) 6.7 45.766 112.000 28.996 194.299 140,996 Support costs Bank fees Insurance Governance costs (see note 61 334 1.034 1.395 258 1.033 6,150 197.062 148,437 13 GEORGE GREENS SCHOOL TRUST FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ra151ng funds Endowment funds 2025 Eftdowment funds 2024 Investment management 9,136 8,894 support Costs Support Governance 2025 2024 Bank fees Insurance Independent examiners fees 334 1,034 334 304 1.033 6,150 1,034 1,394 1,394 1,367 1,394 2,762 7,487 Analysed between Charitable activities 1,367 1,394 2,762 7,487 Trustees None of the Trustees lor any persons connected with them) received any remuneratlon or benefits from the Charity durin8 the year12024: Nill. Furthermore, no Trustee nor other person related to the Charity had any personal Interest in any contract or transartion entered into by the Charity during the year12024.. £Nill. No Trustee expenses have been incurred durin8 the year12024'. £Nill. Employees There are no employees who received any emoluments durin8 the year or the prlor year. The average number of staff In the year was NS112024: NIII. Investment property Falr Value 2025 At l Aprll 2024 and 31 March 2025 3,965,000 Investment property comprlse5 of bulldings and land that are not currently used by the School and part of which are being rented out to thlrd parties. The falr value of the Investment property has been arrived at on the basis of an independent valuatioii carried out by Gefald EVE gn the Old School Property at East Indla Dock Road as at 31st March 2022. together wlth the Trustees, estimate of usage of the Manchester Road stte and the part of Millwall Park. The trustees revlewed for impalmient and have concluded that there has been no chan8e to the valuation of the investment property and therefore the balance remains the same for the year ended 31 March 2025. 14 GEORGE GREENS SCHOOL TAUST FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10 Flxed asset InveAments Usted Investments Cost or valuatlon At l April 2024 Addltion5 Valuatlon changes Dlsposals Transfers 1.356.158 145.179 51.331 {135.1771 120,IJX)I At 31 Marth 2025 1.397.491 Impalnnent At l Aprll 2024 at 31 March 2025 C•rryln8 amount at 31 March 2025 1,397.491 at 31 March 2024 1.356,158 li Debto 2025 2024 Prepayment and accrued income 43.238 Credltors: amounts fallln8 due wlthln one year 2025 2024 Accrua15 6,6Th) 6,150 fftotsr¢ m ￿ v) P4 rl r¥ p4 MY Q ¥D til v4 fAI e4 Ln ￿ p¢ Ln th ¢D GEORGE GREENS SCHOOL TRUST FUND NOTE5 TO THE FINANaAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16 An•ly•l• ol n•1 ••Mts b•lw••n lund• Unrn•trlcl•d fund• R••trl¢t•d lund• 2025 Endowm•nt funds 202$ Totsl 2025 2025 Furtd balances at 31 March 2025 are represented by: Investment properties Investments Current assetsl{Ilabilltiesl 3,965.(M)O 857.577 3.96S.OCrfJ 1,397.491 79.275 5.441.766 148,967 79,275 228.242 390.947 390.947 4,822.577 Unr••trlct•d lund• 2024 Re•trfct•d funds Endowrn•nt funds 2024 Totsl 2024 2024 Fund balances at 31 March 2024 are represented by: Investment properties Imiestments Current assets/{liabilities) 3,965,(XX) 835,472 3.965,￿X) 1.356,157 83,145 5.404.302 264.528 83,145 347,673 256.157 256.157 4.800,472 17 Related party trar&acdons There W￿re no dlsdosable related party transactlons durin8 the year (2024: none).