REGISTERED CHARrry NUMBER: 312693 ort the Trustees and Unaudited Financiol Statements or the Year Ended 31 March 2024 Adde a stanho e School - Governors. Fund Mortln Morrison & Co Ltd Unit 43 The Coath House 66-70 Road Bexley DA5 ILU
Adde Stanho e School - Governors. Fund Contents of the Financial Statements or the Year Ended 31 March 2024 Report of the Tntstees IndEpendBnt Exominer's Report Stotemefit of FinthclrÉl Adivities Balance Sheet Not¢S to the Flnoncial Statem¢nt$ Detalled Statement of Financlal Activlties 9-10
Adde a Stanho e Scheol - Governors, Fund Re ort of the Trustees or the Yedr nded 32 March 2024 The Trustees bein9 the Governors of Addey and Stanhope School hereby present their amuol report and fintsncial statements of the Charity for the yeor ended 31st Morch 2023. The truste¢s have adopted the provisions of the St¢)tement of Recommend¢d Proctice {SORP)'A¢c¢untin9 and keporting by Chorities, opplicoble In the UK and knpublic of Irelahd (FRS 102) ¢ff¢ctive l Jon(vJry 2015. REFEfft AND ADMJNzmAfivE DEfAILS R¢9lstered Chority fiunkn: 312693 Prlncipal address 472 New Cross Rood New Cross London SE14 6TJ Mr M Philips Dr P Trynkn Mrs J Shapiro Ms. K Toylor Ms P 8illlTrJs Mr J Pollord Ms R Coker-Adtl¢ke Ms C Noel Mrs Z Florian L Chalr Head teocher LI Mrs B Roberts Mr E Atuoh Ms g Smith Mr R S¢fo-Atakora Ms C Lehur Mr B Charlerton Ms C Chukwunyere Ms T Yawa Ms N P¢terkin {resigned 2510312024) Mr P Rowbothom [P- Parent 6ov¢rnor,' L- Local Authority Appointed 6overnar.' F- Ftsundotion 6ov¢rnor.' S - Staff $overnor.' C- Co-opted 6overnor.' A - Assoc¢ hlemb¢rJ Mortin Morrison a Co Ltd Chartered Certif led Accowrtonts Unit 43 Th¢ Qo¢h House 66-70 Bournt Rood Bexley DA5 ILU Po9e I
Adde & stanho e School 6overnors' Fund the Trustees eor Ended 31 March 2024 or 6overniw document The charity is controlled by its 9ovemin9 docLffjemt. o deed of trust. and conslitutes unincoryorated charity. The Chqrity derives from a scheme established in 1893 when the John Addey Sthool and Dean 5t(mhope Sclwol joined to form the present school. srRLicfvAE. 60vERNAN AND MANA6EIaEr R¢uiMtm¢nt and appointment of new trusttes The Trustees term of office is four years. The Foundotion Governors are nomintttedlre-elected from within the present f¢thdation Group and must txceed all other Governors by at le4tst two. Parent Governors are elected by porents of students attendin9 the School. Staff Governors are elected by the present staff of the School. LEA Governors are nominated by the Local Authority. Orgonlwklon xtrncture The Trvstees, who are also the Sovernors. carry o(rt the administratNe duties of the charity without ary stoff. rlisk mtvwefflent The trustees hove d duty to idtntify and review the risk% to which the charity is PoSed ond to ensure appropriate controls in place to provide reasonable ossuronce a9ain£t fraud and error. Obj¢ctlv¢s ahd aims The prindpal objectives ore: Guardianship of the $ehool property (tsll title deeds held by the Official Custodian of Charitiu +Jn behalf of the Truste¢s of the school).. The supervision ithd control of the refurbishment ond improvements to the school buildings. The advoncement of £ducatio On his death, John Addey willed £200 "tow¢]rds the relief of the poor of Deptford to l&tt forever" In dischoryin9 this requirement. the trustees donate £) each year to the Depfford Pension Society. Publlc b¢nofit The Chority acknowled9es its reqLtlr£ments to d¢monstrate it Compli wlth the duty thoritits Commisslon in Section 17(5) of the Chorities Act 2011, and Co¥1der the 9eneral guidance on public benef It,'Charities and Public Benef Its. Details of how the Chority hos orhleved this is provided in this trustees, report. The tte£S cohfirm that they hove 9iven due re9ard to the awrity Commission 9uidancE on public benefit before de¢idiw what activlties the tharity shguld undgrtuke. A¢srns pollcy The tnslees regularly review the level of ruerves the Charity must mointain. They consider the current levels are broadly occeptable in the li9ht of the objects of maintainin9 the school property. FINANCIAL REVIEW The results for the year are stated on po9e 4 of the Statement of Financial Activities. The asset$ ond liabilities are disclosed on pa9e 5 of Balance Sheet. The statements Should be retid in coniunction with the not to the Finoncial Statements on po9es 6 to8. Investment pollcy (md pwfornw Invest funds in stock dnd share ore heid though dn investment Coryohy. As at the year end. the market value of Invest was £269.915 (2023.. £257,5731 N BEHALF OF THE BOARD: ruste Mr J.F.J. Pollard Page 2
Inde endent Examiner's Re Adde & Stonho e School - Governors. Fund ort on the accounts to the Trustees of I report on the accounts of the Trust for the Year Ended 31 Marth 2024. which are set on pages 4 10 9. Aespectl% responsibllities of ITVStees and examln The charity's trustees are responsible for the prepordtion of the accounts in accordance with the Charities Act 2011 rthe Act"). The cht]rity'S trustees conslder thot an oudit is not required for this yedr under section 144 of the Act and th(rt an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Act. to follow the opplicable Directions given by tht Chdrities Commiuion under section 145(5)(b) of the Act. and to state whether particulor matters hove come to my attention 8asls of IndependEnt Exomlner's statement My examination wag carriEd out in accordance with th£ generol Direction$ 9iv¢n by th£ Charity Commission. An examimtjtion Indudes a review of the accounting records kept by the chdtbity ond a comporison of th¢ o¢¢punts presented with those records. It olso includes consideration of apry unu$L1 items or disclosures in the accounts and seeking explanations from you as truste concernrn9 ony such motters. The proGedureS undertaken do not provlde oll the evidence that would be required in on oudit Imd Consequentty nv opinion is giv¢n as to whether ihe accounts present a'true and falr VIEW and the rEPOrt is limited to those motters set out in the statement below. examlner's statenwrt In connertion with my Lxamindticn, no materlol m(ffters ha come ta my att¢ntlon which glv¢s ME reasonable cousg to b£lieve that in ary material r¢spect: the accountln9 records were not kept in occord1ce with section 130 of the Act., The accounts did not accord with the acGOLrntlry records.. or the accounts did not comply with applicoble requirgments concerFwng th£ form ond content of accounts set out in th¢ chariti R¢gulati¢n 2008 other than ary requiremEnt that the (ot5 givc 'true and foirf view which is not o matter consid4ered os part of an indep¢ndent exominotio I have no concer*is and hove come across no other motters in connection with the examination to which attention should be drawm in this report in order to enable o proper under$tondiThJ of the accounts to be re¢¢hod. Mr Yaw Kusi (FCCA) Mtwtin Morrlson a Co Ltd Chartered Certifled Accountants Unit 43 The Coach House 66-70 Bourne Rt)ad Bexley tsA5 ILU Page 3
Adde a stanho e School Governors, Ftih Stote ento inan ial Activities includin or the Year Ended 31 Morch 2024 sum inco eaex enditure o counts 31.03.24 Unrnstrictd kestrlcted fd$ Total fthdx 31.03.23 Totdl fLm& Notes Donations Investments income rKorniw r¢sourcu from charttoble actlvltles: Other charitoble income (cow'tol grant) Interest received 8.574 8.574 9.388 15.182 15.182 1.492 44,970 280 TOTAL INCOME 10.106 15,182 25.288 541>78 Charifrthle rtctl¥itiu: onotions Choritable expenditure (35. 105) (73.465) (35.105) (88.n6) (4.982) (108.509) (15.261) TOTAL expeNtsrnIRE (106.570) (15.261) (123.831) (113,491) NEf INCOME/(EXPENDITL (98.464) (98.543) (58,811) Net 9ains/(losses) on investmthts 12.342 12.342 (49,780) Net movement of (86. 121) (BO.2) (108.593) (1.602) 14.131,822 560,210 14,692,032 14.8(Y),625 TOTAL FVNDS CARRIED F¢JRWARD 14.017.303 558.529 14.605.632 14.692.032 Pa9e 4
Adde & stanho e School - Governors, Fund Idnce Sh 31 March 2024 31.03.24 Total fun& 31.03.23 Totd funds Unrostricte d fun& Restrlcted fvnds Notes FIXED ASSErs Twwjlble assets 13.688.CXKI 558.529 14.246.529 14.332.990 r>tbtors 365 269.915 91.273 365 269.915 91.273 30.025 257573 73,694 thsh ifi hond 361.M3 361.553 361292 CREDIfoRS Amoth falllry due wlthln •ne y Other credltors (2.2JO) (2.250) (2,250) 359.303 359.303 359.042 TOTAL ASSEfs LESS CURRENT LIABZLrrIES 14.047.303 558.529 14.605.832 14,692,032 14.047.303 558.529 14.605.832 14.692.032 FUNDS: J58.529 14.047,303 573.790 14,118.242 TOTAL FUNDS 14.6(XJ.832 14.692.032 The finonclol statements were approved by the Board of Trustets on were signed on its behalf by: r MPhilrp .Truttee Mr J.F,J. Pgllard 1?2024 Page 5
Adde & Stanho e school - 6overnors' Fund Notes t the orthey ItnCIal Statement l March 2024 Basis of accounti These accounts hove been prepared under the historical cost (except that investments ore shown at morket vdue) comiention with it£ms reco9nised at cost or tronsaction value twdetss otherwise strated in the relevrmt note(s) to these accouptts. The accounts have been preporgd in accordance with.. the statement of Recommended Practice: Accountiry and Reporting by Chorities yeparlNJ their accounts in accord(Mce with the Fimoncial Reportrn9 Standard applicable in th£ UK and Republic of Irgland (FRS 102) issued on 16 July 2014 and with the thorrties Act 2011. Chorye In qcc•untlry estlmates Th£re has b£tn no change in accounting estimrte. Aloterial ylor year 4rr•rs There has been ho materitsl Frior year error has been idetttified in the r¢portipwJ period. F4md accot Unrestricted funds can b¢ Llsed In aCrdI]nCe with the choritable objectives at the dlscretion of th¢ trustees. A¢stricted funds can onty be Used for restricted purposes Within the objects of the charity. Restrictions orl$e when sp£cified by the donor or when lunds are roised for rtrICted purpos¢s. Devolved formults capital This Is fundin9 Irom Department of Education ond is allocated eoch year to seconcknry schools for priority work The grnnts may be used for improvements to buildiws (thd other focilities, includiThJ Icr, or Copitol repairs/ref urbishment in accordonce with priorities set by the school. The capital 9rimts are poid in two 1PtalmentS, in Moy (40 pv cent) and Juty (60 per cent). The formula for ollocation includes an amount per school plus an omount per pupil. As a Voluntary Aided (VA) schools thesE 9ov£rning botys is required to moke o IO% contribution of each funding ollocation. Fundin9 is allocated by local authority to improve the condition of the School. Priorities for investment in school buildirgs and faciliti¢s ore decided localty. The resources ovoilable are allocated to local authority areas on the bosis of 'relotive eed" A$ VA school copital pwent$ irt poid on receipt of claims and invoicets for work corried out. All incomin9 resources are included on the Statement of FinonGioI A¢tlvltles when the charlty 1$ legally entitled to t income and the amount con be quontif i£d with reasonable occuracy. Investment income This is included in the accounts on receivable basis and includes dividends and interest receivable but excludes realised and unreolised investment 90ins tmd Ioss8S. vestment 9ain or loses This includ£s gain or loss on Sole of imiestments and ory 9ain or loss resuItiFWJ from revaluin9 investments to market volue at the end of the year. Resources expthded Expenditure is accounted for on an accruals basis and has been clossified under headiw that ¢wgre9ate all cost reldted to the category. Where costs cannot be directly ottributed to porticulor headings, they have been dllocated to activities on a bdsis consistent with the use of resowc¢s. 6overnonce costs are costs incurred in Ilne with meeting the chority's compliance malters. The TrSteeS assessment in respect of 90ing conwn is for a period of one year from the date of the approval of the fimncial statements. Taxatlon The chority is exempt from tdx its charitable activities. The notes form part of these f inancial statements. Page 6
Adde & Stonho - GOvnOr$. e School Not inoncial Statement or the Year E ded 31 March 2024 TIble flxed assets All ossets costing more thon £500 are capitalised. Where tor9ible fixed ttssets have been acquired with the aid of specific grants, they art Included in the Balance Sheet at cost ond depreciated over their expECted Uful economic life. The related 9rants are credited to restricted fixed assets fund the Stdtement of financial activities and ort carried forward in the olance Shtet. tsapreciation on such ossets Is charyed to the restricted f ixed otsets fund In the Statement of financial activities to reduce the fund over the Usef ul economic life of the related asset on a basis congistent with the schoovs depretiotion policy. Where tdn9ible fixed ossats have be ocquired with th£ unrestricted f undi, d¢prcciation 4)n suth assets is charged to unrastricted funds. Tofvjible fixed ttssets ore stated ot cost or voluation less depreciation. The fvwstees do not consider it costs Effective to rry out a revaluation of its freehold properties ot this stage. r)epreciation is provided at rates calculated to wite off the cost of f ixed assets. less their estimated residuol value, over their expected Useful Irves as follows: Freehold property 125 year& Building improvement 10 years Fixtures and f itti 4 years 2. INCOME 31.03.24 31.03.23 l)onotions Educotion fundin9 (Capital 9rant) Investment income Interest receivid 15.182 8.574 1.492 2J.288 44.970 9,388 280 54.678 ExpeNDrruRE ON CHAArrA8LE AcrIvrrIES 31.03.24 31.03.23 Bank chtwges Dontttion to zducation Domtions to r)eptford Pension Society Other operating exptnditure 15 34.605 15 7,911 200 108.490 116,620 88.711 123,831 TrUSTEES' REM1Tr4ERATZON, 8ENEFrrs. AND EXPENSES There wert no trustees. remunerotioh or other btnefits for the Yeor Ended 31 March 2024 Mr for the yeor ended 31 March 2023. There were no truste¢s' expenses poid durir¥J the Year Ended 31 March 2024 ond durln9 the year ended 31 March 2023. TAN618LE FIXED ASSEfs Fro•hold oporty Ouilding Flxfvr¢s a Total COST At l April 2023 Additions in year 14.994,320 105.062 29.778 15129.160 At 31 Mareh 2024 14.994.320 105.062 29.r18 15.129.160 bREaAchN At l April 2023 Ch(ryed for the year At 31 lknh 2024 (683,592) (75,955) (759,547) (82,8CtI) (105)6) 93.306) (29.778) (796.170) (86,461) (882,631) (29.778 NEf BOOK VALUE At 31 March 2024 14.234.T13 11.756 14.246.529 At 31 March 2023 14,310,728 22,262 14,33Z.990 The notes form part of these f inancial statements. Page 7
Adde st - 6overnors' Fu e School Notes to the r the Year in n¢1 nded 31 ents - continued ch 2024 6. DEBTORS: Ala5 FALLING DVE wrrHIN (X4E YEAR 31.03.24 31.03.23 Other debtors 365 30,025 31.03.24 31.03.23 Listed invertments (Hirtoric costs) 231.031 217,974 Alarket value Canyirwj (market) valu¢ at beginnin9 of year 257,573 Add: addltions to investments at cost Less: dl$posdls ot c(rying value Add: Net realised Investment goins in the year Less: Net unreoiised investment goifL¥/(loss) Corrying ¥due ot end of year 12.342 269.915 Amlyjls of in¥utinents Investments listed on a recognised stock exchoFwJe or held in common investmut fund$, open ¢nd£d investment compani, Lmit trusts or other collective investment schemes Cosh held as part of the i£$tment portfolio Total 253.818 16.097 269.915 8. LREf)rroRS: AAIOLff4ifs FALLING DVE wrrHIN ONE YEAR 31.03.24 31.03.23 Other creditors . MOVEMENT IN FLfft4DS Fund balances OU0412023 Incomlry Outgw Funds 6aln5 and (loss¢s) Fund bolan 31/03120Z4 Education fund 560.210 15J82 (15261) (1.602) 6emeral fund 14,131.823 IOJ06 (108,570) 1,602 12.342 14.047.303 Total Fthds 14.692,033 ZJ.288 (103.831) 12.342 14.60Y.832 10. RELATED PARTY TRANSAcfzoNS An interest-free loan of £30,000 provided to the school was wrritten off in the year.. The notes f orm part of these f inancial statements. Pa9e 8
dd & stonho nors, Fund rjetoiled Stotement of Finonciol Activities or thÈ Year Ended 31 Morch 2024 31.03.24 31.03.23 INCOMIN6 RESOLIR l)onotions Interest receivt]ble 1.492 280 DivideThls quoted secur6tles DiYidEnds 8.574 9.388 EFA DFC- educational fund Grant 15,182 Total Incomlw resourus 25.288 54.678 AESOURCES EXPENDED Charltable act•¥rtitS t)onation to school Other gifts a donations 34.605 4.782 200 3J. loy 4.982 Indgpendent uamimr's fe 2.250 2.250 Support costs - rertricted: kepoirs a mointenonce costs Depreciotion 19,779 15,261 35,040 15.260 15.260 Sjpport costs- unrLttricted: Depr¢ciotion - unrestricted 71.21x1 71.2(J) 71.2 71.2¢JJ Finonco Bcthk charge4 19 Total r¢sourc¢s Lxptndtd 113 491 Net Incthne/(expenditur¢) b¢f•r¢ galns and Ioss¢S 58,813 Llnroalised reco9n15ed galns ard lossel Unrealised 9ains/(loss) on investments Reolised 9ains/(loSS) on investments (49,780) 12.342 12.342 49.780) Net IncoMI(expenditure) after urrealised gains and losxts (86.2C(I) 108.593 This page does not form part of the statutory f inancial statements. Pa9e 9
Add asta ho e School Governors, Fund Schedule o s Receivable or the Year Ended 31 Morch 2024 6rttnts receivable Contribution from school Totdl EFA DPE Cupltol 15.182 NIA 15.182 NIA 15.182 Totol This page does not form part of the Statutory f inancial statements. Page 10