Reglslered Company fftumber: 006404641England and Wales) Re8lstered Charlty nufflber: 312724 GOVERNORS, REPORT AND ACCOUNTS FOR QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 AUGUST 2024 AEltrtNSHK 2910412025 COMPANIES HOUSE A11
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QUEEN'S GATE SCHOOL TRUST LIMITED (LIMrrED BY GUARANTEE) CONTENTS Leyl and Adfftthistrati Informatknn Gov6rnors' Report Ilncorwang the 5trate8fc RoPOrtI Statsment of Governors, Ré4)oMlbllitles IndopendentAudttors' Report 10-12 Staternent of Flnwn¢lAI A¢tMd•s ia Balance Sheet 14 Cash Flow Statefflent 15 Ilotes to the Flnanclal Slaternents 16-16
QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Mr$ Rèlca Gray Ichalrmanl hArs Nlcola Bright lappolnted 20 March 20241 Mlss Karen Coles lappolnted 28 5epternber 2014) M5 Carol Da¥ls Mr Jonathan Dobson Mr Wllllam Glllen Irèsl8ned 19 March 20241 Mr shal Hlll Mrs Clare Lentermarn (apptslntsd io Febrary 2024) MrGary Ll Ms Carrolla TrefEarne Iro$l8nèd 10 Aprll 20241 Mr Peter Trueman Mr$ Mènlna Weldon Prlndp41 Ml$s Amy W•lla¢e Butsar and *tary Mr Jonathan Cubltt IreilBned 27 Ottobor 20231 Mr Douglos Shaw (Interlml127 October 2023 - 1 April 10241 Mrs Slan Lèhrter13ppolhted l Aprll 30241 S•nlur Manwment Team Mlss Amy Wallace Mr Chrlstlan Kendall-tAIw MTS Slan Lehrter (appointed J Aprll 20241 Mrs Lydlp Kyle lappolntsd l Aprll 20141 Mr Mark Crundwell Ms ftharlotte De L8 Pem Mrjarnes Denchfleld Mr Phlllp Wllllam5 Ms Coleen Glttens Mlss Nlchola Hol¥ste-Smlth Company number 00640464 Jrlty numb•r 312724 Prlnrlpal addr¢M and roÉhtered offlL Queen's Gatè School 133 aueen'sGatr London SW7 SLE Audhors TC Group The Courtyard Shoreh•m Aold upper 8eodln8 5teynlne Wesisuss•x BN44 3TN 04nk4rn afclays Bank pit I Churchlll Place Canary Wharf London E14 5HP
QUEEN'S GATE SCHOOL TRUST UMITED (UMITED 8YGUARANTEEI rVERNoRs. REPORT (INCORPORATING THE STRATEGIC REPORn FOR THE YEAR ENDEDJI AU6115f2024 The queen'$ G?tE Sch¢x¥l Governgrs Ilhe Governorll present thelr annual reporl together wlth the audtted flnanclal ststrments of the charitable company for the yearended 31 AuBu5t 2024.The annual repurtserves ihe purposes ol both a trusteès, reportand a direttors, rèport under company law, HRE11 AtID ADMIt115ThAIIVE INFORMATION Quien's G•te School vjas founded In IBgi and Is feglstered wlth the Charlty Commjsslon under Charlty Number 31272 The Governors, SenStsr ManHgemeftt Team and prlnclpal address of the Chaflty toÉethEr wlth detèlls of thè Charlvs profes5tonal ad¥lsofS afe 8lveft thé Leill aDd Admlnlstritlw InfOrmon page •bove. Ihe Sthool aueen's G&¢ School Is a central London Independoni day School lor gtrls 4ed 4-18 that ¢ombinÈs academtc 5UCtexs and excellentpastoral carewlth a welcomln8 en¥lroftmeht, The School151ut•led Inflve elegant bulldings In Queen'5 Gate, South Ken31n6ton. Ihe fvlfidp•l frAlss Amy Wallac• h•s b#•n Pthclpal olthe S¢hool slNce Sapt•mber 2022. She Is alsthd by a manlymènt team whl¢h coTrwrls key slafl In the Senlor S¢hool.the Dlrector of the junior School and the 8ursar. 5TRUCIUHi GOVEIINANCE AND MANAGEMENT Go¥4rnon Under the MENrandYm #fid Artlclesof Assoclatfon of Quten's Gote S¢hool Trust Itd. control ofthe fxjmpany 15 vested In th Govornln8 Bool. whose rnembg1J perform4 role e4uJv4lent to that of company dlreclors. The Artleles ol A$50ClaOn were updatsd In 2013. The Governors ara also trustees of the Charlty. GovernlA# Bod¥ Oetslls olcuttent Governorsalong wilh thos• who re In olllc• durlns th• year endèd 31 August 2024 8re Ilsted on paA¢ l. Durln8the year. W Gillen and C Tref8arrtè leed. and three new Boveynors lolned the Board: N Bfiahi K Coles •fftd C L•nterrykiTr. The School alms to have a broad range of skllls on the Governln8 80(Iy. and arvongst other thln85i currentfjgvernor$ are exparlenced In tho followlnlflclds: oducatlon, law. Ilnance. propcTty and bu5fnes5. letyuftment ond Trolnlni olGovgfn4fl Governors #re appolnted by Invltstlon ol thtt Govrnlfis Body. New GOVerrI are tndueied Into th worklngof the School
fid the Charlty al Inductson sesslons held wlth ihe Prlnclpal Ind BuTsar. at whlch th•y are presentod wlth Ivformatlon on
governanc• and othqr relÈv•fitpoll¢ie5 and procedures. All GovefnorsaThtnd TeBulartralnlng to ensure thev can meet thelr safe£uardln8 and other respoftslblllt19s. Govern¢rs are encouraged to use resources made avaNable from the As50clatltsn of Governln8 Bodle5 of Sndependent Schools IAGBISI, 6ovornor$ re8ularly ¥lslt the School and attend khool evonts wherever posslble, OlKanItIOn8j Mana8ement Ile Govèrnorj, 05 the trusieesolihe Charlty, •r• legally respons5ble for the o¥erallmpnaBEment artd control of the School. The Full Go¥erThlnB Body met lour bmes duTln8 the ytaf to 31 A$t Z024. It eslablishes an overDII framework for the governance of the School qnd deleBate5 rerialn key responslb511des to Its commSttee5. The work of the Committees Is monltoied thou8h the mlnute5 01 thelr elInES and the r4tincatJon of deilsluns where requlred. Durlng the year to 31 Avllust 1024 there were thfee maln Commillee$; Fin8nc• Commltteé Iwhlch also serves ès the audlt commlttoel. ¢halr•d by Peter Trueman. and re5ponslble for monitoiln8 th? Implementatjon of flnance pollcle5. rev5ewln8 recornrnendSn8 the annual bud8e¢ rnonltorlng monagÈmÈnt accounts and presentin8 the audlted fftnanclal 5tarernents lor approvRI by the Full fjDvernlng Body. Edu¢atlon and PtOry1 Comrnlttee, chalred by Wllllam Glllen unlll retlrement In M#rch 2024. and then by Nlcky Brl8ht (Educatlonl •Trd Clare Lenterman IpastOTall, lo ensure Implementatlon of academlc. pastoral and s•fo8uar41in8 pollcle5. Clar• Lenierman Is also the Sale8uardlnB GovÈwnor.
QUEEN'S GATE SCHOOL TRUST LIMIIED (LIMITED BY GUARANTEE) GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGiisf2024 09¥olopment Commltt•O Chalred by Manlna Woldon. whtch wlth the School to rDlJe addftlon•l lunds for the School through a ¥arlètyof lundralslnE actfvllles. A new Remunera0 Commlttee was estsb115hed durln8the v¢¥r ax a sub.committee of th8 Rftarte Commltte•. wlth the flrst me•tln8 tskln8 placo In September 2024. The Prlnclpal and the Bursar attend rfeet5ny of the Governorl. Other members of the Senlor Manoiement To•m ISMT) eod ¥$ 4PPTDprlate. The day day runnln8of th• Schoolls de111¢d to th&Prlnclp41 supportsd byher SMTwhlth 1$ ¢omprls•d of iht followlni Indfvidu•l$'. M155 Ary Wall8¢e- PIlN¢lpal Mr Christlan Kortdall-Daw- Wce-prlnclpal Mrs Slan Lehrter- 8urs3r lappolnted l Aprll 20241 Mrs Lydia Kylo- Dlrector olthe Junlar School l?ppolnted l Aprll 20241 Mr Mark Crundwell- Dlrector ofYea¢hlng, Le)rftlnK and Assessment Mr larrre5 Denchfield- Dlrector of Admls51on>1oppolnted l Aprll 20241 M5 Charlolt8 de 13 Pena- Dlrector of Pastoral Care Mr Phlllp w11llan - Dlrector of Ctsrrlculum M5 Coleen Gl¢ns- Dlr•¢tor of Slxth Form Nl¢hoh HDliate-Smith - Asslsiant DlIKtor olpa$toral Care Mr Jonathan Cubltt relined os Bursar on 27 October 2023. Mr D0val Shaw s•rved #s Interlm Burmr unt411 April 2024. Group St¢urtyr• Rl8tlonshlpg There Is ho oroup structure. All a¢ll¥llle5 Qlthe Charity are carrled Out by iho Charlty Itself. OWEC15. AIMS AND OBJEcnvES Charltaljte Qbbrts The ChJrirl$ Oblects. IS Set out In Its Momorandum of A550¢1JU¢)n dat•d IS O¢tob•r 1959 ur•: Yo promote the cause of educatlon and provlde for the tralnln8 and InstruclJon of puplls In every branch of learnlni.. In clUzanshlp In outdoor pur$ults,' and In the arts and crafts of all klnds. To provltle such puplls vlth splrllu#l. moral, mEnrol and physlcal tralftlnB ON the basls ol Chrlsllan prln¢lplEs and by accep11n8 pup115 wlthout d15tlnctlon on the younfls of race, colour of creed to encoura8e thè undeYstsndln8 and toleranco OF dlflerentso¢lal and le11oU5 sV5t8ms. To rfy)Inl4ln its herlta8e endpwment . the School wlth Its Grade 2 IL5ted bulldlnB5 -w5thSn these objects. AIMS ond Intended Impart In both the Junlor and Senlor Schools, the Ilm Is to creats a secure and happy envlronryftt In whlch each Elrl may rejllse her •¢¥demlc and personal pot4nilal and Indlvlduallty. Our expectatlons of our puplls are hlth both In and out ol the ch5sroom. We encourage thelr Intollectual developmenL thelr Interesi and Involvet)nt In extra<ur¢lculaTOCtivliles as well as a ¢oncernforothe15through chafltsble WDTL ènablln8 them become responslble ¢likensln a small sthool and a lar8er world, Publlt 8tnofft In settlnB ihe objeclfves and plannlnB aCtNltJes, the Governors havÈ conslderedthe charlty COMMI10.1 8eneral 8uldante on publk bEneflL Queen's Gate School Is a charitsble trust whlch seeksto beneflt the publlc through the pur5vIt of Its core alns. In addltlon. the khool serves the wider communlty bv; Pardelpatlng In and prOmon6 lolnt o¢tivltles wlth other local schools, both stste and IndependenL
QUEEN'S GATE SCHOOL TRUST LIMITED IUMITEO BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORTI FOR THE YEAR ENDED 31 AUGU5f2024 Encouralllng and supportlnB pup115 and staff io be actlvely lnVtstd In local, national and Internatlonal charltles PiovldinÉ bursaryasslstance to wlden acce5s.The School doES notbenefftliom endowrneni Incoffje and therefore makes a PfOPOrtion of 8ross lee Income avallable to provlde asststsnce to pp51$ would nototherwlse be able to loln or remaln at the School. All 8trfs are eCOur96ed to become Involved In charitsble work and th¢ Yxth Forrn ar• requlred to ¢aTry Ollt communlty servlce In the locallty Bs part of thelr educallon whllst at the School. for example wlth A#e UK or oodbank FrId1. or partlclpatlng In a reading prolectwith è local stste school or In ovi own Junlor SGhotsl. Many £lrls also carry out ch8ritsble work and tommunlty serv1¢¢ throvgh the Puke of Edlnbur8h Award Scheme, Gront MaklnB Pollcy The value ol bursarle% scholarshlps and d55counts mode to the School'j pup115 In 2023n4 was E024.62612022n&, £748,6671.These bwards support the School'5 pollcy to widen acces¥ ertcouraoe tslented puplls and to rèlleve hord$hlp where exisiina puplls, educBilon and future prospects would otheThSe be at rtsk. The lots1 value of all these awards rewesents artY 7% of the gross fee Incoft wlth thè value of wan5-te5d bvrMrl¢s represenUnB 5.7% of 8ross lee Incgme, whlch Is In Ilne wlth the School's Bursary Policy. Bursary awards can be for to 10096 of foes •nd additlonal financlal 8sslstance 65 avallable for famllles avrarded D bursary wlth costs 01 educatlon81 school trlps muslc and publlc examlnatlons. It Is the Goyernorg oblectlvè to su#oln ihese Ip¥e15 by maklnl addltlonal resources available frorn lund ralsln8 actlvltles. Pollry for SgttlngS•nlor Staff R8muneT4tlon Pay levèls for new mefflber5 01 the SèThlor Manayment Team Ism are determlned by the Rernunerlon Commlttce, o sub<ommltt• olthe Flnanc• Commrttee. The Remuneiauon Comrfttee also agreesany proposedchangesto SMT salarle Intludln# the annuil pay award. SIRATE61¢ REPORT ob(tI$ for thE Y•Br Ovei the acaden£ year 2023.24, th• school pursued a number of Jtr•te81¢ oble¢ilve$ pround In)provln6 th• qtsaNty ol ieichlng artd l¢arnln& wh a partlcular focus on Inclushe or adap l••rnln& and d•vAtopln8 our use of dIgI1 technololly. In teims of pupll PErsonal devolopmen( a new emphasb5 vfds p14¢ed on the breadth of COdCLbrrlcufBf opporttjnllles av•llable, whlle we a150 SQU8ht to Secure th processesaround trlps and vlslts, Flnally, we worked toward5 a proyamrrn olfacllltle5 Improvemen( culmlnatln8 In a number of k¢¥ projects conducted ovor th• summ•r 012024. straleales ¢0 Athleue the Yearfs ObJ•rtlv¢s A V area IOT delopMÈnt has been our Use of 5tafl profeMlonal development days to Improve slaff novAedqe and understandln8 In order lo be able io work tswards thè above objectives. Sessions ha bÈen delivered by tjoth exlstlng stall and outslde 5petlo11sts. A new A551stant Dlfector of Pa5tor81 Gire lolned the 5enlorM•n•&ement Team In September 2013, whose rern both developlng the guallty of co<urrlcular pruvlslon and 5er¥lng Js the Senlor School's Educallonal Vl$llS Co-ordlnator, Thls role In thejunlor Sthool is fulfllled ljy the Dlrectorof Junlor Sthool, and both 5talf have underione the relevant tralnlni to tske on thls re5ponslblllty. The School 1150 embarked on a successful fundralslng campal8n. V40Tkln8 In partnershlp wlth the PafeniTèocher As51Jc5aiion IPTAI, io support the r•furblshment wwrks carr ovL Operotlonol P•rformanie of the 5rhool Thls year. Queen'sGate Senlor School averapFd 36911022.23: 367)puplls and luNIof School 8veraged 112 pup11512022-23'. 1261. Walunll Ilsts exlsi for a number of cohorts and Open Events ha¥e Increa5Ed In allendancè. p0clarIV In the Senlor School. Appllcatlans at Il* have seen a slllnificani rlse, while we hove malntasnod or sli8htly In<reased on our appllcatlon numbeis at oth¥r entry polnts. Results at both A Level and GCSE wero ex¢ellent. At A levèl. 93% of grades awarded at A to C, wlth 27%at A• ades. Al GCSE. 64% of the results were Éradetl A. to 7. Once agaln, the School p13ced arnone the top ten sthools In the country lor our v)lue-4dded score$.
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMrrED BY GUARANTEE) GOVERNORS, REPORT IINCORPORATIN6 THE STRATEGIC REPORT) FOR ThIE YEAR ENDED 31 AUGIIST2024 On comple.don of thelr sId5 ot Queen'sfjate all of tht Slxth Form who had aPpldWIT• placed Bi HIBher EdtatIon Instlivtton5 elther In the UK or o¥èrsea4 most of whom were able to 5ecur• places at thelr Ilrst.cholce de5tlnatlon. Unlvenltles chosen In¢ludqd Oxlord, Cambrld8• a rany ol other Ruwll Gr¢up Instltuttons, a number of cr¢atSve courses and us colleies. The charlty has thus achieved the year's objectivos In thls area: nwlntslnlng its hi8h atademlc performance. The school has coniinu•d to emphaslse thè bertefft of co.currlcular a¢ilvltl•s lor thé glrl< per$Dnal Jelopmfrnt ano to svpport positlve wellbeln8. Lunchyme clubslncluded 5uper%urrlcul8roptlon55uch as Robotlcs aub and the SchoolJoumaL creative pursulu and actlvltles purelyde5t8ned to offer a fun dlverslon. Muslcal opportunldes Included an array of cholrs and ensèmblas. whlla sport iemalns • real streneth, wtth a wlde-ran8lno currlculum offorln& as well as an outstandlnB progrirnme of addlonal scllvldes. such as Fencln& Katats and Kkk.Boxlni. Dramètk performancès In¢lud¥d * Senlor Sthool exhlbltlon ol Shakesp•arean exlracts. 4nd the Junlor School perform•n¢e o188auty and the Beast LAMDA held stron& wSth another year of excell&nt examSnat]on outromes. School trlp5 were • reBulaf flxtrJr•. both tn terms of local vlslts to our nearby museums and the London theatrés and d8Stlnadons (urth#r afield. lftcludln8 a skl Irlp W Austria and a urrl¢ular v151tto Croatla. Ch&Titsble wjrk hès remalned a fvndampntsl fo•lufe of lffe at Queen's Gate, with our (ondnued Jupport ol several fonH" tsrm partners. These Include hostln8 re8ular 551¢15 from ourlocal branch of Age UK lor lunch, collatSn8 reAulardonatloNs for the Ken$InoN and Chelsea Foodbanl and partl¢lpa¥nB ID thè Klds for KldgChr151rn05 C•rol ConcerL Th• Sthool Prqmlx• Our PfemTses 8oalsthls year wereto undeitake thèrenovatlon of the KS3 iibr•ryond a glrls, wash1M In the SenlorSchooL whlle pl?ns were Nnallsed forthe Inslallaiion of a new plry castlo In thB Junlor School outslde sp?Eo. In 4ddltlon. a number of key areJ5 wefe redecoratrd, Includlng the Junlor khool Hall and the three hollway5 In the Senlor School. FInB1, new glass Jecurlty doors wgr• Instslled * the very st•rt of the ocad•mlc ye•r to a number d our entrin¢e w4y>. Volunteers Parents helped wlth khool trlps ind lundr8151ng acllvlues durlng the year. bs well a5 offeilng career lrtterylews, work experlence andolferlngthelr expertb5ethrough Wlder World tslks,. th¢ Governors would Ilke to take th15 QPPQrtunlty to sav how mts¢h w¢ apprecl•te th•lr contlnuina and valuabte syppott for our Work. 151 Imp•¢tlon In November 20Z4 thè School was do118hd ty host repreSentyeS from the Independent S¢hoo15 Inspectorate IISII. The opportunlty to show off Bll th¥t nkes ouf schoolso spec181 had been hotly awalted. Under the ISI fraork In place slnte 2023, Schools no longer recelve overall lud8empnts. Aather, Inspèctors reporlon whether a schDol meets the expected I st¥ndards in ftr key aiea5'. l. Leadershlp and management And 8overnallce, 2. qu•llty of du¢•tlon. trainlng and recreatlDn. 3. pvplls. physlcal and mental health #nd EmoVDnal wellbeln& 4. puplls, soclal and econom]¢ educatlon and contrlbutlon to 50clety* and soleBvardlnB. Queen's Gat• mèt 311 $tsndards and ware d•llllhted by thè rnyrlad of Pos1 tomments In our In5pectlon ieporL which Include: 'Puplls are at the heart of leaders. declslo¥J maklffl The S¢hool's vlslon Is'ambthius for evefypupll io dBvelop fully whatever thelr 5tsftln8 polnv eachqis skllfully adapi lessons to the needs ol puplls and respgnd to thelr Interests and qu8stion treachersthrou8ho theschool use thely emtenslve sublectkfiowledgeto tsach v4ell.planned lessonswhlth Ènable puplls to extend thelr knowledEe ?nd deepen thelf Unllerstsndln 'Relaiion5hlps between pupN5 and 5tsff are p051Yve acr055the School. Pupljs feel r•specthdand theyln turn reipect each tsthe teader5 have èstzblished o culre and cutrlculum whlch fosters understandlng and celebrales dl¥eYslty.
QUEEN'S GATE SCHOOL ThUST LIMITED (LIMrfED BY GUARANTEEI GOVERNOR5. REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST2024 Gr055 feeslncieased by 35%tr) £11.88ml2022-23: £11.48ml reflectlnithe annuol feq Increase of 7.4% The School had flnanclal 5urplusforthe yearof £489A38 IZ022-23: £50I3061-Thelncrease In totsl costs largely rellectsaddltlonal toachlnB salary ¢osts, aFthouÉh an IncreasB expEndlre on the fdbrlc of the bulldings was also a fac. It bs the pollcy ol the Governor5to contlnutto beBr down on cow whereverp05slblè, wh115t malntalnlnz and Ènhanclngth6 quality ol edutatlon afforded to the puplls. ReserwsPallr• Over the d[Urn temi It Is the pollcy of the Governors to build up reserves Its tover the Interesi and capitsl repayments on the Barclays Bank loan relan&t0 the bulldln8s housln4 the Junlor School at 125.126 Queen'sGale. as w?11 as to provlde fund5 for the luture development of the khool. The Increase In resefves 01 £489A38 duTlnE the ye4T Is Ir• Ilne wlth thls pollcy. Investment Perlormanw lylnst Obhrtlv•i The Ch•rlty'S fundswhlch Bre not requlredfor Its opei8llon In the short term are held on deposli vthih the bank or Invested In shori ittrm tre4Jury d•p05its. Irn 2023.24. Sncom? 01 £264k w45 8Èner¥ted from IL8 cajh fèser¥es durlnl thls perlod of hwer Intsrest r•te% Fundr4liln8 P4rfwmanc• In 2023124 £63,89612022J23 É20,4991wis ra15ed for the School from donatlons. Thls Includèd dDnallons to the Q4teen's Gate Fotsnd8tlon. as well as fvnd5 ralsed by the PTA IhrouRh a nurnber of events run by them durlni the year. The 8enerosty, enthu51M and commltThrnt amtsna the parofflf body and 4lumnoe re.maln hl8h and the level of donatlons 15 expected hold up wll, fovernors are responslble lor the m•noRemenl ol rljks faced by the School #nd hav8 a rlsk mana8ornent 5trate8y whlch comprljes.. Ae8ul•r revlew of the prlnclpal rlsks and uhtertalntles that the School faces, the establl3hment of polltles, systems and ptocedur•s to mltlyte those rlsks Identlflèd, and the Implementstlon of procedures desl8ned mlnlmlse or mènage any potonual lrnpatt on the School, should thos• rlsk5 materlalbe. Oelall?d conslderallon ol sp¢<lflc rlsks15 delegated to Ihe SMT. Thè Schoofs Rlsk ReN45tsr r•cordsthe r15ks that have beén Identlflttd and assesaed. together wkh the cofitrols putln place to fflltl8ate these rlsks. The Rlsk RepJster 55 revlewedannualty bythe Full Governln88odyi and chan8es made as ne¢essary, Each Commltt•e of the eoèrd also revlews those ilsks relevanl to Its lrea ol responslblllty at each Committee me¢lln& The koy controlj used by Ihe CharSty Inelude: lornwl agendas fc all committee and Board attlvlty, comprehenslve styateglc plannln& bvd8eVThB and management accouniin& establlshed organls•tJonal struewre and Ilnes of reportlng; fofmal wrltten poll¢les and procedures In¢ludlfi8 safe6•(dIn8- and £loar authorlsatlon and 4pproval lev•l$. Throu8h the fisk miDJAoment pr*xeMe3 tstabllshed lor the School, Ihe Govefnors ire sstlsfted that the major r15k5 Identifted have been adequately mlttoated where necessary. tt Is reco8nlsed that systems can onty provlde reasonable but not absolute assurance that risks have beèn adèquately mana8ed, Th8 Governors have Identlned the follonE rlsks 8s nd1M to high rlsk5 lor the forthcomlne year and bey(¥nd-
QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REpoKr) FOR THE YEAR ENDED 31 AUGusf2014 FIftarnd Rls The rerrx)¥al ol the VAT exempiton on Independentxhool fees from Jantjary 2025, followed by the Hbolillon of bu51n¢ss rates rellef the Increase In Employees Natlonal Insurance fontrlbutlofts from ApTII 2025 all present a wtentlal threat to future pup51 numbtr$ and the oblllty of the School to 8eneraie a surplus lor future Inve5tmeTht need$. and to meet the tsrms of the bank coveTranL Credlt rlsK whkh 1$ rnDd•rats due to the Intsrn•llDnal oalure of our ¢¢mmunbty, Is mlugatsd by the Introducuon ol a more iobus¢ well-deftned pr¢xedure lorthe ¢ollertJonol all debts. Where the collectlon ol debts rernèlns Pfoblem•lk. thèseare referred to a debt collectton aiencyto recover on our behalf. Other Iinanc5al flsks Include futuré changes w Employer conlrlbtstlons Into the Teachèrs Penslon khem?, 4 that has been m111ted by ¢loslnÉ entry lo the xheTh¢ to new}nerS slncé S•ptsmber 2023. Inrest rate rlsk has boen m5nlmised lollowlns theli¥ln8of the Intore$t rjte onlho tèrm loan. piuvhjirfcérlllTrty on firtvre repaynRnts to be factored Intofflnancknl pl8nnln& The Trwnltsirln8 01 theie rlsks 1$ the responslblllty vf ihe Flnance Commbttee. R•pul4tlon•l ond Compllaftr• Rlths Governorsand staff ale all avjare of the polEnUal Impact on the School'sfeputstlon olan adverse PA event. The School has r¢bugt pollclesi proceduTe$and piocesses In plgc tts #nsure compllance In the wldest sense. Safeguording and hèallh and 5Dfty are fundarnentsl to the khool'g operatlon. and the welfare ot puplls and smfi Is of utmost ImpDrtan¢e, There arè omlnated Bo¥ernoT5wIth fespon51blllty lor over518ht of SafeBuardin¢ and Health and Safety. The S¢haol provldes reBular tralnlno stsff on (Dmpliante matter5. Includlng the m3na8emeni ofdots and avoldanco ofdats protecuon breaches. Poor pèrlormance and 4eademl¢ rèsults wlll olw have ofi Impact on the rgputstlon oftho 5¢hool. The Eduritlon Commlttee contlftues to ftwnltor 8ftd supportthe School to contlnue to dellverexcellent results. The Gov•rnors have Identhled the followln8 keyoblectlves whlch form the ¢Ofe ol tho ¢¥rrenl Slrateolc plan: Gowernono. L•aderihlp 4nd Manwmnl To ensure that Queen's Gate ha5 erfe¢twe lead•rshlp and Management ai ill level$ and thal 5ul>ble •nd t)naoln4 Ifdlnln and opptsrtunltles for develtspment ar priwlded.uwell 8$ suctesslon plannlni. Slafflng Queen's Gate ¥AII to Invest In •nd •d¥ante a tslenled, w•ll.gualifled and cornmltt£d stafi, both tsachlng and operations Stall. Atademk For manv vears. Qu¢en'$ Gate has beert respected fvr academlc results achleved In g nurturlng en¥lronrnÈnt vthere confidence Isbullt and a Ilfelons Ie01 learnlngls In5plred. Insplred byourtr¥dltton$, wewlll COnnet0 ¢)fferan xcellgbrt acèdemlc programme lor all our Elr15 pieparing themon all levÈ15 lo be effectlvt and 0ba[ClI11ens, Pastoral Insplred by Its tradltlon of excellent pastoral care, Queen's Gale will conllnuÈ to dev&lop its wovlslon to ensure that 8Srls feel valued jnd supported and develop Into conndent young women. rea(ty to becorne respon51blÈ tlvzens In thÈ world. Tethnolooy We ¥ecoBnlse the Importance of technology today and for the foreseeable future. Queen'5 Gale will ¢1)nllnue to UPBrade Ind expgnd Its technolts8y w •nsurg thpt iho ¢urrkular and adrnlnlstraUve 8oals ol the 5rhool are meL
QU EEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE GOVERNORS. REPORT IINCORPOIIATING ThE STRATE61C REpoKr) R THE YEAR ENDED 31 AUG115T2024 Adffilsslons Queen'sGate 11 conllnue to bulld and malntsln Its enrolment at all levels. Its Intoke wlll tontlnue to Tellect and benefit from the rlchnèss ènd dlvèrslty ol Its fornrnunlty by adrnlttlnE puplls wtth 8 byoad ran8e of b•ck8round5. talents and Interests bui who share • iommon Boal of commltmont to learffilna In all its form$. E¥irwIknr Attl¥lll•J Queen'sGaie Tec[9t5the Importsnce of•xtra<urrlcular opportunltles In enhanclngthe edLtcatlonal experlenco Itolfers amd v4tN Continue to provide ¥n ex<eUenK well4ellned fang• of clubs. trlps and oth•r opportunltles. Fociiiitss aueen'sGats wlll coffltlnue to olferBn eryvlronment whl¢h b well rn81niJlned aftd provldessultsble lacilltles commensurate vlth the hlth callbre of tho a¢ademlt provislon ond of the commuhlty. The Schoolvjlll cofttlnue to rtrre its bulldln85, to use thom affec1ety to provlde the necessary lacllltlts lor 4 21rt centuiyedtscatlorn whllst malntalrtlThi thelr ele4ance Ind Char Flnand41 Mtgrs queen'$Gate 11 contlnue to stren8thBn artd analyse its financlal re$oufc•5 and #ftsure that these are manioed •ffecll¥¢ to cvarantee the School's lon% term financlal stsblltty. thus enablinl the School to fulfll the goals of thls and subse4u?nl ftr8tsdt plans, AhThrffjè Relatlons Queen's Gate wlll alm ty develop relallons with 115 plvmn8 throvBh Improved tommunlcèuon and the oryrtlsatlon of ev¢ntJand to ensure that frjimer puplls are fully oware of ihelr value to the SchoDI communlty. Oirtr••th lotho Comrnunlty Queen's Gate r•coanlses the need to work wilh It5 cornmunlty Ind VAII ¢onUnue to fosi•r both Indivklu41 •nd collect? ¢esponslblllty for the en¥lronrrtent by Incorpor4tlnE suglJlnablllty pra¢¢t$ Inta ts?rhlnA and practlce. Our Outrea¢h pro8r8rDrne ha$ begn developgd to harne55 the OPPOftunltles lor partnèrships In our local communlty. The school wlshos to proThb)te Itself as an Incluslve ond dlveise Commun¥, AUDITORS Dlsdosure ollrtftyrmètlon lo the al1t019 Each of the kn•rnors has connrmed that th•Te Is no Informatlort whkh they are aware whlrh Is relevanr to the bul vfwhl¢h thtr audbtor15 vnawar*. Ihey have fvrther ¢onfirmod thot they have tsken approprlaté rteps to Identlly such felevant Inlormatlon and to •stibllsh that ihe budltors #re •Wdre ot $uch Inforry•tJon. Re•ppolntrn•m A res011n proposlnB thai fcGroup be reappolnled audir) ol the Ch¥rlty wlll be put to the members, Approved by the Board DI Governois ol Queen'sGale School on 20 Mar¢h 202 5 and signedon Its behalf by.. rs Relca GrBy (haliman ol Governors
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) STATEMENT OF GOVERNORS, RESPONSIBILITIES Ihe Governors. who ar¢ 4lsothe dlrectorsfor the purposesof company law. arerexponsible lor pr¢pailn8the Governors, R¢port lincludSn8 the Strate&r Report) and the fffianclal statèmènts In •ccordance wlth applcabl& law and Unlted Klnadom Arcotsnlin8 Stsndards Iljnlted KlnBdom Generalty AcceptedAccountlna Pra¢iice). Includin8 Flnanclal Reporllng Standard 102'The Flnanclal RertIn8 Slandard In the UK and Aepubllc of Ir¢lond'. Company law regulres the Govefnor3to wepare financ1 ststsments lor each ffinan¢l•l year ¥knl¢h Élv• a true and falr vlew of the affalrs olthé tharbble company and of the In¢omlnB resourc•i and applFtatlon of resource*. Includlnm the Income Ind expendtfvre. olthe charltsble company lor that year. In prépaTlng these fiD?nclal ststsmnts th# Governors are r•qulied to: select $ultsbl• a¢¢ounthi8 poll¢les ond apply them conslstentlvi byjrvo the method5 and wlnclplesoftho Charittes. SORP: mile lud8ernents and ¢stlmat4s that are reasonable and prudent JTrd prépare thÈ fftnancljl ststernents ort the EolnB concern basls unless It Is In4pproprlate to presume that the ¢harltsble company ¥AII not¢ontlnue In oporallon. The Governors ore responslble for l¢eeplnB adequa accountlnB records thai dlstlost wlth reasonable accuracy ot any me the flnanclal posttlon of ihe charitsble rompany ind enable them to ensure that the accounts comply wlth the Compantes Act2006.Theyare ilso responslble farg4feouardln8tlte assets afthe charitsble company ind hencefortakin8 reasongblq st•ps for th• prèv•niion and dete¢tion of fr•ud and other Irre8ul¥rltlos.
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS We have audited the financial statements of Queen's Gate School Trust Limited for the year ended 31 August 2024. The financial reporting framework that has been applied in their preparation is applicable law and United Klngdom Accounting Standards, including Financial Reporting Standard 102 The Financlol Reporting Stt7ndord opplicable in the UK ond Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our oplnion the financial statement5'. Ive a true and falr vlew of the state of the charitable company's affair5 a5 at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Klngdom Generally Accepted Accounting Practlce.. and have been prepared in accordance with the requlrements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditin8 (UK} IISAS IUKII and applicable law. Our responsibllltles under those Standards are further descrSbed in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance wlth the ethlcal requlrements that are relevant to our audlt of the financlal statements In the UK, Including the FRC'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evSdence we have obtalned Is sufficlent and approprlate to provlde a basls for our oplnlon. Con¢luslons relatlng to golng concern We have nothin8 to report in respect of the followlnB matters in relation to whlch the ISAS IUKI requlre us to report to vou where.. the Governors, use of the golng concern bas15 of accountlng In the preparatSon of the flnancial statements Is not approprlate. or the Governor5 have not dlsclosed in the financlal statements any Identlfled material uncertalntles that mav cast slgnificant doubt about the charltable company's ability to continue to adopt the going concern basls of accounting for a period of at least twelve months from the date when the financial statement5 are authori5ed for issue. Other Informatlon The Governors are responsible for the other information. The other information comprises the information Included In the Governors, Annual Report, other than the financlal statements and our Auditor's Report thereon. Our opinlon 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 conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other informatSon and, In doln8 so, conslder whether the other informatlon Is materially inconsistent wlth the financial statements or our knowledge obtained In the audit or otherwise appears to be materially misstated. If we identify such materlal Inconslstencles or apparent material mlsstatement5, we are required to determine whether there is a materlal mi55taternent in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mlsstatement of this other information, we are requlred to report that fact. We have nothing to report in this regard. io
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Oplnlons on other matter5 prescrlbed by the Companles Art 2006 In our opinion, based on the work undertaken in the course of the audit: the information 8iven in the Governors, Report Ilncorporating the Strategic Report) for the financial year for which the financial statements are Prepared Is consistent with the financial statements; and the Governors, Report (incorporating the Strategic Report) has been prepared in accordance wlth appllcable legal requirements. Matters on whlch we are requlred to report by emceptlon In the Ilght of our knowled8e and understandin8 of the charitable company and its environment obtained in the course of the audit, we have not identified material mlsstatements In Governors, Report (incorporating the Strateglc Report). We have nothing to report In respect of the following matter5 in relation to whlch the Companles Act 2006 requires us to report to you If. In our oplnlon.. adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not Vi51ted by us,, or the financial statements are not In agreement wlth the accountin8 records and returns; or certaln disclosures of dlrectors, remuneratlon specified by law are not made,. or we have not received all the information and explanations we require for our audlt. Responslbllltles of Governors As explained more fully in the Governors, responsibilities statement. the Governor5 (who are also the dlrectors of the charitable company for the purposes of company lawl are responslble for the preparatlon of the financlal statements and for being satisfied that they glve a true and fair view. and for such internal control as the Governors determine Is necessary to enable the preparation of financial statements that are free from material mis5taternent, whether due to fraud or error. In preparSng the financial 5tatementS, the Governors are responslble for assessin8 the charitable company's ablllty I'o contlnue a5 a 80ing concern, dlscloslng, as appllcable. matters related to 80in8 concern and uslng the golng concern basls of accountln8 unless the governors either Intend to liquldate the charitable company or to cease operations. or have no realistic alternative but to do so, Audliorfs responslbllltles for the audlt of the flnanclal statements Our objectlves are to obtaln reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor'5 report that includes our opinion. Reasonable assurance Is a hlgh level of assurance. but Is not a 8uarantee that an audll conducted In accordance wlth ISAS IU Kl wlll always detect a material misstatement when it exists. Misstatements can arlse from fraud or error and are considered materlal If. individuallv or in the aggregate, they could reasonably be expected to influence the economlc declslons of users taken on the basls of these financial statements. A further descriptlon of our responsibilities for the audit of the flnanclal statement5 Is located on the Financial Reporting Council's webslte at.. https.'l/www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Extent to whlch the audlt was con51dered capable of detectlng Irregularltles, In¢ludSng fraud The objectives of our audit, in respect to fraud, are: to identify and asse55 the risks of material misstatement of the financial statements due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, throu8h deslgning and Implementing appropriate responses,. and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its mana8ement. li
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Our approach was as follows: We Identlfled areas of laws and re8ulatlons that could reasonably be expected to have a material effect on the financial statements from our Eeneral sector experience, and through discussion with the Governors, and other management las required by auditing standardsl, and discussed with the Governors, and other management the policies and procedures regarding compllance with law5 and regulations Isee below); We identified the following areas as those most likely to have such an effect.. health and safety. General Data Protectlon Regulation IGDPRI. fraud; bribery and corruptlon, School Inspectlons, keeping children safe In education Istalutory guidance), D8S checks and employment law. Auditlng standards limit the requlred audit procedures to Identlfy non-compliance wlth these laws and regulations to enqulry of the Governors and other management and Inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently slgnificant to our audit to result in our response belng identlfied as a key audlt matter. We consldered the lo8al and regulatory frameworks directly applicable to the financial statements reportine framework IFRS 102, the Companies Act 2006 and the Charitles Act 2UIII ahd rhe relevanl l¢lX Luiiipllaiice regulatlons in the UK.. We considered the nature of the charitable company's operations, the control environment and flnanclal performance. We communicated Identified laws and regulations throughout our team and remalned alert to any indications of non-compliance throughout the audlt,. We consldered ihe procedure5 and controls that the charitable company has established to address risks Identified, or that otherwise prevent, deter and detect fraud; and how senlor mana8ement monltors those programmes and controls. Based on this understanding we deslgned our audit procedure5 to identify non-compliance with such laws and regulations. Where the risk was considered to be hi8her, we performed audit procedures to address each identified fraud rlsk. These procedures Included: te5tln8 manual journals. reviewing the flnanclal slatement disclosures and testing to supportin8 documentation,. performlng analytlcal piocedures,. and enquiring of management, and were designed to provide reasonable assurance that the flnanclal statements were free frorn fraud or error. Owlng to the Inherent Ilmltatlons of an audlt, there Is an unavoldable r15k that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with audltlng standard5. For example, the further removed non-compllance wlth laws and re8ulatlons Ilrregularitieslls from the event5 and transactions reflected In the financial statement5, the less likely the Inherently limited procedures required by audltln8 standards would Identify it. The rlsk Is also greater regardlng irregularltles occurrln8 due to fraud rather than error, as fraud Involves Intentional ¢oncealment, for8ery. collusion, omis5i0n or misrepresentation. We are not responsible for preventin8 non-compllance and cannot be expected to detect non-compllance wlth all laws and regulations. Use of our report Thls report is made solely to the charltable company's members, a5 a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might State to the charitable compan5 members those matters we are required to state to them in an Audltorfs Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companws members as a body, for our audit work, for thi5 report, or for the opinlons we have formed. Mark Senior Statutory Auditor For and on behalf of TC Group Statutory Auditor Office.. Steynln Date.. c4roAP um est ussex 12
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMrrED BYGUARANTEE) STATEMENT OF FINANCIAL AcfiviTIES IINCLUDING THE INCOME AND EXPENDIFURE ACCOUNn R?R THE YEAR ENDED 31 AUGUST2024 Kot•s Unr•stfltt• nds R•stfldqd nds TO1 1024 Toto12023 INCOME FROfvi' DonatJon5 and lepcl•s Inve5tffnts Charitsble actlvlths Other Income Totsl Income S396 263,994 I116977 21945 11.166.812 63A96 263J94 11016.977 21,945 12,166XI 20,499 164355 11,491,157 3,225 11.679.236 EXPtNDITURE ON: ft4lJln8 funds Charltsble a¢IlIeS TOto1 e¥pendirur• 3,126 11,167.804 11,170.930 11.676,974 11.676,974 11,616AY4 11fi76974 N•t Inome Dnd movement In nds 489038 489158 508.3Q6 Fund balances broughi foiwar 8,70S.698 163x145 8W68.74J 8360,437 Fund balantss Nl rrIed lonvard 19 9.195.536 163Jt4S 9a58,$81 8J68.743 All Incor •nd 8alns lor lh y•ir are roco8nlsed above. All(rfthfj School'$ actlvhles arg ¢laJs•d as cohilnu5n8. The Stslewnt ol Flnanclal AtUvlUe5 1lx> complles the requlremonts for an Income and expendltwe account under the Companle$ Act 2006,
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET AS A T 91 AUGusf2024 2024 20Z3 Not•x SIXEO ASSETS Tan8Sble •ssets 12J78A60 12,332324 aiRRfNT ASSEIS Oebtors Cwh at bank 4nd In hand 13 666,594 6A91I12 7,159A06 362,897 5211.238 5574,135 CURRENT LIABILMES Cfedltofs du¢ wlthln one year 14 (S3176} 14,400.7401 NEf CURIIEvif Er5 JJ25,530 1,173.39S rAI ASSEfs LUS aiRRENY IIAOlilmES 13,704M90 13,505,7L9 LONGIEIIM IIAQILIIIES Credliors due &fteT one year Is 14345,S091 14,636,976) 9358,$81 8,868,743 REPRESfN7FD BY: 19 16JWS 163.045 UNRESIRICIED FUNDS Gener81 funds Ueslgnaled fvnd5 19 9JJ64h49 I3017 8.679.554 26,144 9,195,536 8.705,698 935BA81 868.743 Th 8ccounts were approved by the Board, Ind s18ned on thelr behlf on 10 Mafch 1025 by: Mrs Relc4 Grav Mr tTrUethan 14
QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR EAIDED 31 AUGUST2024 2024 2023 C•yh flowg Irom opèrat1 Attlvitlo Ilet Intome for Ivaar AdJuslment$ftr. Depre¢l10n chir8es Dlvldend4 lrtterest¥nd rents from Invesbmen IlrKrease) l Decrease in debtors Increase In Cfèdllors Ntt ¢ash provlded by gp¢rtlns l¥kl¢i 489138 508,306 440A67 1285339) 1303ffi971 IN33,914 431214 {164J551 100,005 224.267 13 1,774193 1,099,437 C•¥h Ilows from Invostlng ¥rtl¥ltlo$ DlAdends, Inlerertand ronts from Investmvnts Sale ol (an8lble rimed assets Purchase ofianble nxad assets Nel us¢d In Mvestlng •rtlvltlei 285P39 9031 14951341 164,355 12 {238.0141 1100611 173,6591 Cwh ftowi from Iln8ndnK actlvllfos.. Repayments ol bank loan Noi r&h used In IlnandnB ¥tMtles 1293255) 1553.232) 1293,255) 1553,Z321 (Thanp In ush ind (ash e4ulval•nls In the ye C45h •nd agh e4ul¥alents at the beqlnnlng ol th• y•or tash and cash equlvalenls * th& end of tho veor An•Ws ol wh irtd e4sh •qulv4f•nts Cash at bank and In hand Totsl cash and cash equlvalents 1380,S74 5211238 472546 4.738.692 61191112 5,211,238 6A9J12 0191*12 5 211,238 5.211,238
QU EEN'S GATE SCHOOL TRUST IIMITEP (LIMrrED BY GUARANTÉE) NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGllSf2024 STATUTORY INFORMATION The School Is a fharltsble cornpany Ilmsted by £ugrantee, re8lstered In England amd Wales The feBlstrred ollke, tompany number and charlty number are daia51gd In the Le1 and AOmlnlstrav¢ Informatyon. ACCOVNIING POLIOES 1,1 wls olprQpar1oTr The fSn3nclal siatements h•ve been prepared under the Compèrtles Act 2006 artd In ac¢or(lance wlth the Cha¥lll85' Statprnent of Rècommended Pfaetrcè ISORP IFRSIOI)) and Flnanclal RaporUnB sundard 102. Inltlalty feognls•d at cost or transKtIotb value 1@95 OtherlSe Jiated In the felevant accountlni polSry. thère are no miterlil uncertaine$ aboui the School's abllity to <onllnue as • golni concern. After rvlevAnB the School's fore¢4sts and prolectlon5. the Govemors have a rea50nabl4 empectatlon that the School has adequate re50ur¢es to contlnue In opeiatlonal ¢xlsl8nce for the fore5ceoble future. The School therefor• coDtlnuei to adopi ih• 8oln4 conc•rn bisls In preparlng Its nnanclal atpmp.nis. The flnanclal ststemonts ore prepared In sterlln& whlch Is the functlonol ¢urrency of lh• Charltablo cornpJnv. Monetsry Nmounts Inthos• ftnaDclal stsiemènts 8ra rounded to the nearest pound, 2.2 In¢fjm¢ Fots$ rccolvuble and char8es for sorvl¢o& 19$$ Iny allowan¢¢s. scholafshlps and 6uriories 8ranted the S¢hool a8Jlnst thom les ar4 accounted fw In the perlod In which the ser¥lGe Is provided. Wher f•ei ore rqcelvfjd for a futuie servlce prlod thèy ar• Included In deferid In¢on, IncludlnB those prepald fof the forthcomlnÈ tcademlc yeir. Invostmeni Incomg Is 8ccounted lor on an ¥ccrvals ba$l$. Donatlons, le(re5. Brants and othef voluntsry Incorne are arrount•d for as and when eniiilenwnt irlses ihe amounl tan be rellably masurèd and the •¢onomlc ben•ftt ts consldered prob•bl•. Whefll 0 donor or an appeal hBs Imposed iestrl¢Uons the Incofflè Is creditsd to a re5trlcted fund. oiher Incomelother tradlng Income Is accounted for on an a¢¢fuals 575. 2.8 EMpvndhwr¢ Expendlture Is accounted lor on an atcruals bas1& wlth Irrecoverable VAT Included wllh the Item to whlch It relaies. Go¥errban¢e Costs Include tlrose costs 4350clated wilh meet5ng the constltutlonal and itstutory requlren*nts of the chHrMy and Include Ihe audlt fee5 and cosE5 Ilnked the 5troteBlc mana8emÈni of the charlty, All c05ts are allocated beefi èxpendlture cate8ori•s and depertmeffits on a basls desluned feftecttho uxè ol the r•so(Jrce. Costs felatyrnB to a partlcular actfvlty are allocated dSre¢tly. 16
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUEO) R?R THE YEAR EIVDED31 AUGusf2024 AC£OUNmllG POLICIES1(ontlnwd) 2A Tan2lblt fi¢ed thnd depredatlon Tgnalble fixed assets other ihan ffeehgtdland arestaigd •t ¢ostles5 depreclatk>n. Depfeclatlon Is prowldedat rate5 cal¢ulatsd kn wrlte off the costless esUmat•d f¢$ldual value of exh asset over its eKpe¢thd us¢ful Iih as h)Ilo Freehold land15llotdeyeclated Freehold property FIMture¥ fittin85 andequlpffofftt Jrnpuier equlpment 2%stral8ht lin leMcludln4 land of E4,25m) 15% reduclng balanca 20%str018ht Ilne Capltal emp9nd1 Is ac£ountsd for on an accnmls basls wlth IrretoverdbleVATlncludod wlth the It•m 10 vthlch ft relate& Mlnor Items ¢1 capltsl expendltyre of up to £l.000 are VItten off to the Ststompnt of Flnanclal ActlvNes a5 Incurr•d, 2.5 lemln8 and hlre purthaso ¢4mrnltm•Tht¥ Aentals pald underoperaung loase5 Bre<h4iged wlnsi Income on • stral8ht IIDe ba5bo¥er the perfodof the le•s•. 2.6 Penslons The m¥Sorlty of teachln8 stsff are mimbars ol the Te3Gh4rs' Pgnslon khemp (rpsi, ? deflned bÈn•fft schefty admln15thr•d by ¢he Teachers'PenslonAoncy.Contrlbutlonstothe scheTh aré char8edtotheStstefvntof Flnancl AEllvlUe$ os they fall due. Thè Trs is an unfunded Khew. Contrlbutlons on a'pay a5 you go, ba51J aro credlted tDII Exchequr under airnngements 8o¥emed by the Superannuallon Act 1972. Actuarfal valuatlons afe Cared out thp Government 5 Actuary O•partment. Under the deflnltlons sel out In FR5 10? the IPS is 8 mults-employer pens scheme. The charlty Is vnable to Idenufy Its share of the undertylng Inotlonall assets and IIBbllltle5of the 3chen. A¢¢ordlnBly. under FR5 102 the scheme 15accounrod for •3 ff It were a deflned contrlbuoon schenw. Thq char1750 contrlbutestotwo defined contrlbutlon schemè$ one for those teachus not In TP& and another f non-tsachln8 wff. 2.7 Cuh •t b•nk ond In h•nd Cash at bank ond In hartd In¢ludeJ ¢ash ond Jhori term hl8hty Ilquld Investments. The Governors seek to use short nd rnpdlum term deposlts where p0$51ble lo nwxTrmlse the reiuyn on monles held¥t the and to manage cosh Ilow. 2.8 Debtor• Trgde jnd other debtors ¥e reco8nlzed al th seW•rn•nt •mountdu•. 2.9 Cffjdltorn•nd Pfovtslonl Credltorsand provlslons are recognlsedwhere the charlty has a preSeb)tob1tlQn resultln8 Irom a past e¥èntthat wlll probably result In a trahsler of funds to • ihlrd party •nd the amount du¢ to setde the obli8JUon can be measured or estimated rollobty, 1.10 Crftlcal attouniln8 •silmatesandJudgements In the 8ppIIc8tlon ol thE ¢harlVs acrotsn1 poll¢l•s, the Governorsare r•qulred lo make lud8emonts. rtlrth$ and èMumptlonJ abotst the carrWnBamount ofa5*ts and Ilabilitles th arE notreadlly apparentfrom othersource The estlrnates and assoclated a55umptlons are based on hlstorlcal exp#rlence and hOr factors that araconsldered to be relevant. Actual resuFts may dlfler fromth¢se esttmat$s. The estlmates and underly5nga$5umplions are revlewedon 4n ongolng bosls. Revlslons to accountlngesWMkltes are recoGnlsed In the perlod ID which the estlmate Is revlsed. The Govtrrnof5 dts ntst consider that there are any ¢ritlcal esilmates orareas oflud6ement that needto be brouaht to the attentlun ofthe readersofthe flrtanclal ststements. 17
QUEEN'S GATE SCHOOL TRUST LIMITED ILIMtrED BY GUARANTEE) NOTES TO THE FINANCIAL StATEMENTS (CONTINUED) FOR THE YEAR ENDED31 AUGUST 2024 AcUNTIIG POLICIES14irflnuod) 2.11 Fun418(¢6uhtln8 IhTrrestrlcted 8eneralfunds¢omprlse thr fvnds whlch be ugedln 4ctordancè wlth the charitsble Dblects at the dlscrtiort of the Gernor9. DeJl8nated ftsnd5 comprlse reserve5vthich have ljeen allocated by Governors. to be us•d lof a speclllc purpose. Re5trlcted fijnds ère thosE lunds that (an onty be used for partlcular restricted purposes ln 8C¢Qtdan¢e wlth thi wLshès of the donor or when funds ofe ratsed for pJrtlcular restrkted purpuses. RNOVF The turnovtf of thè School15 wholly aitrlbutsble to th* 0(ts01 tho Chirbty •5 5tat•d In th•. GoVernor%,R•rltInd ls•arned entlfety wlthln the VK. NET INCOME Thls Ts slated after chafgln8: Tot 21J24 Total 2023 Deproclatlon Auditor reMunerattOD- audll seNlces Audltor& remunoration- hon4udltseNlce$ 44067 17,640 431,214 I600 13,332 TA¥AnoN The chaTltsble ¢ompJny13 reglstered as a charlty and 811 of Its Income 14115 vdlthln th8 exernptlons under Port 1101 th4 Corporatlon T8x Act 2010. DONA710NS AND LtGAClfS Unf•rt¢kt•d Rgstrltt•d Totol 1024 Totsl 2023 Donallons 63.896 63196 20A99 63.896 63,B96 20,499 Durlng theyear Governors nwde donauons to the school ihrouÈhvarlous evÈn15 and a¢tivittos. the nature ofwhl¢h could noi bè qu4nilfted. INCOME FROM INVESYMENYS Unrestrlrtod R•strlLt•d Total 1014 Total 2023 Interest 263394 163,994 164,355 263,994 263994 164,355
QUEEN'S GATE SCHOOL TRUST LIMITED ILIMrfÉD BYGUAAANTEEI NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 IricoME FROM QIAIUTABLE ACIIVIIIES 2014 2023 Gross School lees Less.. 8ursorles schol•rshlp$ llnd dlscounts Net School fee$ Add: Re8$straOn feès Exlra$ lrtcomè 11184.740 11,483A05 824,6261 Al60,114 t74867 lQ,734,638 59114 696949 4A35J 710.168 IIA16977 11.491,157 AWAIV$IS OF WENDITUAE Staff (osts oepr•dailon oiher Losll Tot81 Z024 Tmal 2023 Cost tsl valslnl lund$: FundralslnB acllvllles Totsl cost of ralslnl funds 3.126 3.126 CharR4ble èxpendltur• Eth¢otlon TeachlnB Welfare Premlse5 Support and 8overnance Totsl charltsble expendKure 6.909.612 107,581 63,145 962.624 8.043.162 222.259 397*34 578.654 1336.297 880A60 3,193.245 729,705 686235 1&17J5 1,143084 11,676J74 6.983.239 791.167 IAIOJ25 1373J)73 11.167A04 218.308 440,S67 Total eItndItr¢ 8JM3.162 44067 3,193.245 I1.67674 11,170.950 19
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMrrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS IcopinNUEDI FOR THE YEAR ENDED 31 AUGusf2024 ANAL¥515 OF EKPENDITUPE I(•ntIn An•lysT4 01 support I•10n (05ts: 2024 2023 Auditors, remuneraln lor auditseivlces Totsl governan¢e costs 16.800 16AOO Support costs: Avditors, remvneritlonlor nvn budit servlres Le&al and professlonal lees felatJn8 to SUPPOrt Support stafl vrd8e* llptlonal IrtSUTance and penslon Loan Interest Other $ppOrt cosu 13,606 89,764 9514 235231 524,019 13332 112,970 977051 314?91 538,129 1,845W84 1.973.073 XO STAFS C0515 The averaBe monthty h•ad counl was 112 staff12023., 113 staffj and the averall• monthly nrnber of full tlm equfvJknt emplwes durln8 th¢ year was: 2014 2023 83 Teochln8 Premlses Support 14 loo li 97 The aw•aate payroll costs for tha yeirwere ¥$ lollows., 2024 2013 W•Bos Ind salarles Soclal securlty Costs Penslon costs 6337.565 687.159 1,118,238 1143 162 5,845.707 610.453 1,069,340 7 525 500 None ol th8 Governor> receSved any leMuneraOn Of other benefits fiorn the S¢hool of any cofinectrd bodv. Governorsexpen5e50f £NII12023: ÉNill weie reirnbursed thls year. 20
QUEEN'S GATE SCHOOL TRUST LIMITED (UMtrED BYGUARANTEEI NOTES TO THE HNANCIAL STATEMENTS (CONTINUED) FOR THE VEAR ENDED31 AUGiisf2024 10 STAFF COST5 1a>ntlnu•dl stsff earnlnaln excessol £60,1)00 p•1 annum In the folloln8 bands are: 2024 Z023 Numbpr £60JJOO- E69,999 É70AOO. £79.999 £80.000- £89,999 £100,000- £109.999 £120.OQQ- £129.999 13 Of the employees uthose enJ)luments exceed £60,000, 2612023.. 201 have redrement beneflts occrulnB tsnder denned benEflts schemGs and 112023: 21has beneflts accrulngunder? deflnedcontribuuon Scheme. Conlrlbullon5 payable by the SchDoI to those schernes lor hiqher pald employees were.. 2014 2023 Defined contyibutlon sch•mes Dennèd benefits schemes 12J44 318,043 330 387 849468 The key m•n•ymint personnel 15MTI ol the kh¢ul orn detsiled In the Gornor< R¢port and Lgal and Admlnlstyatk¥e Infor+matlon, Ther• w•r• 10 omplDyees In the SMT dvrln8 the year Ilncreased from 6 In 20231. 2024 2023 fiu8re8ato employee benefits of key nYnaEernent personnel Ilncludlni employevs nattonal InsuraTrce. employers penslon contrlbutlon5 and Settlements lthe t•rmsol which are conndeniial)). 1,167W8 818I35 11 COMPARATIVE STATEMENTOF FINANCIAL AcriwnES-YEAR ENDED 31 AUGUST 2023 Unyèstrlttod Restrlrted funds funds Total 2023 INCOME FROM: Donatlons and le8arlES InVestrn1$ Charitable acuvltles 0th4r Incoffe Totol Intome 5,112 164,355 IIA91,157 3.225 I163.849 15,387 20,499 164355 11,491,157 3,225 11.679,236 15.387 EXPENDIWRE ON: RalslDg fund$ Charbf4ble aGtlvltle$ •xpqndllure 3.126 Y,126 11,167.804 11.170930 11.167.804 11.167A04 3.126 Net In¢ome and net moverneni In funds 49645 12,261 508306 Fund balances brought forward 8,209,653 150,784 ,360,437 Fund balances ot (arrled loiward 8.705.698 163.045 8A68,743 21
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMrrED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOA THE YEAR ENDED 31 AUGusf2024 J? TANGIBIE FIXED ASSITS Fiuhold Flxtures And Total Prnperty Flttlfi EqulpMnt Cost At I Sèptsmber 2023 AddlilDns 15.173J39 203.529 999394 SS.91A 20,a531 1.034JS2 1,239.241 236,394 17AII?74 49SMa4 iOJ53) 17I87ASS Dlsposals At 31 2014 15A76A68 IA75h35 D•predatltsn At 15eptember 2023 Charge loi the year Ellmlnad on dlsposal At al Auaust 2024 3,446.244 218308 6B8,830 944,576 168,641 5,079,6SO 4406? Ix 22 53,617 111,3221 Y31.12S 3ffi64552 I,iia318 5,508,895 Nwt baok¥8lu• At 31 AuRu$t 2024 Al 31 Auoust 2013 11.71ZJ16 3OJI17 362A17 I2,$7860 310 564 A perltsdl¢ valuatlon OF the iotsl freehold property ¢)wned by the Schuol. c•rrled Out In No¥embor 2020 by Knlghl Frank valued the propertleyDt É39 mllllon. The School doesn¢X adopt a fevaluaiion poll¢yand thls¥aluatlon vms not Included lh¢ fire$ abovq. 11 OEBTORS 2024 202> Fee deblor3 Prepayments and accnjed Incon Othor debtors 18,540 575.777 71.277 666.594 140.728 115,422 6,747 36?97 22
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 AUGusf2024 14 aEDITOR&, due wllhln one y•ar 2024 1023 Bank loan54nd overdf•ft5 <5ee noté 161 Trade creditors Othèr etedltors 46JJ02 464190 221269 95.569 171A31 157A34 335080 708.294 2093hOZ 1,127,136 20141WJO 1,589N41 166860 157.976 32 76 4 400 740 A¢crua13 and def•rred Incon Fees In adnce Dposlts Other ttxes and stscljl 5ecurlty Fees In ¥dvan¢¢ reprent £182,72712023: £1.227.136J lor laei recehed In Bdvanc• In relatlon to the Autumn teim 2024, and E2,250,67512023: Énlll In Te3peci ol an arr&emen1 whlch enabltrd p4rÈnts ty pay fees lor the lull 2024-25 ¥cademlc year In od¥ance. 15 CAEOITORS: #ft•i one y• 11124 2023 N)nk loans 4J4SA09 4,636,976 4$ 119 4 636 976 16 OAMK LOAN5 2024 2023 B•nk lo?nJ are wholly repayable In Instalments •5 f¢llow5'. Less thart ono year In more than orte year but lessth#n years In nxre than two years but le5Sthan fi¥& yar5 In more than fl¥è years 463A02 489J16 464.890 495.741 1,690,917 2,450,318 5.101866 13OSJ66 The long-term loan of É4,808,6111s secured by a first lepl charge over part of the freehold propprty ofthe School. Th* perlodof the loan Irom Oar¢l?ys Bank1$25years, repayments of the ¢opltg1 comm8n¢ed InJanuary2010. Intorest on thè loan has beèn fixed at¥ rate 015A5X.
QU EEN'S GATE SCHOOL TRUST LIMITED (LIMrrED 8Y GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED AUGU5T2024 17 IbEISION COMMITMENts The SchoolpartlclpJteJ Inthe Yea¢htrs'PenJlon SchemelTrhe TPS°I for the rfvilorlty ol Its tea¢hlnB Staff. The pen51on char8e for the year In¢lude¥ contrIbuon5 Payab to the TPS 01 £922A3612023- £988.4521 and at the ar.eNd £11668 (Z023- Ell993) was accfued In reape¢t¢f contributlonsto thts scherne. The TPS Is an unlunded multl-employer dellned benellts pertsion scheme Bo¥erned by The Teacherf Penslons Re8ulions 2010 las ¥mÈndÈdl and The Tegcher< PerIan 5¢heme ReBulatlons 20141as amènded). Members contrlbutè on a "pay aj yau go. basls wilh toniributlons from fflembefs and the efflployer beln8 creditsd to the E¥choquer. Retlrément •nd oth¥r penslon benefftj •re pald by publk fMds provlded by Parlloffont. Th• employer contrlbullun ratc Is sot by the Secr8tary of ststs folknwln8 xheme ¥aluatlons undertaken by the Go¥ernmentAttuarfs D8partnnL Therrn5t recentaciuafl#l valuaiion ol the TPS was prepared3sal 31 March 2020 and thè Valuation Report was publlshed In October 2023. Followlng the Mccloud lud8emenL ihe remed¥ pTop03ed that vthÉn beneflts becornepayJble, è118ible members tan selctto rÈtei¥e them fromelther the reformedor legacv achemesfor ihe perk>d iApi112015 to31 March 2022.Theaciuafles have Ossumed that mmbers are Ilkelyto ch005e the optyon thai provld¢sth¢m with the 8reater benef, and in preparlTr8the 2020valuJtlDn ha$ valyed the 'Breat?r ¥alve' beneflts for 8roups of rÈlÈvant membars. Th• •mployercontrlbutlon rate forthe TPS ts 28,694 and en)plDy•rsar• also r8qulr•dto pay a admlnlstratlon lè¥yof O.08%8lvlng a tottl èmploy•r contrlbutlon Tpte of z8.68%. Slnce saprnber 2013.the khool hDs no lon8trr b•on enrolllf+8tea¢hln4 stsfl Trs. All new teachers Qfe enroltsd Into a new Deflned Contributidn IDCI scheme admlnL8tered by Royal London. Exlstln8 teachers mty also move from ITIS Intth thé new seheme at any dme. The School toniribuSUP lo 20%1nlo the scheftw.butalsa offÈrsthe flèxlblllty ol reducln8 the employerf$ ronlribulion to 12% or 5%, enabling staff to take up to 15% In additional Rross salarv. Employèr tontrlbuljons to thls sche# wÈre £114,462. and * yosr end E12,694 was lccrued In respect ol conirlbullons due to thlj scheme, The school also contribLrf05 to a OC scheme lor non-te•chln8 thff adinltiisied by The Penslon5 Trust. Employer contrlbution rates are elther 5% or IO& oGcordlnB to senlorlty, Employer coThtributlons payable to the scheme wore E81253, wilh £10,512 was accrued at ye?r end In respect of total rontrlbullons due tts thls 8chemÈ. 18 511ARE WIYAI ANDCOMIAOL Th¥ charlty Is Ilmlted by guarantee and doe5 not have a share ¢apltsl. In the event of a wlndln# up eKh member 8uarantees to conirlbute an amouni of no mDre than £1. 24
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED 8YGUARANTEE) NOTES TO THE HNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2024 19 SUMP•lARV OF FUND MOVEMENTS E¥pen¥ Balance at JI AuB2014 pt 2029 Unrèstrlded Iwds General fvnds De518nated fvnds 87954 26,144 I2,16612 IIL675.9741 1104.7431 104,743 •844> IJOI87 11.166A12 11,676,974) B•stiked funds Qveen'g Gate Foundailon - Capitsl Queen'j Ga¢¢ Foundatlon - BUTrIeS 47,961 1151184 163.045 47.961 115W84 163JJ45 Totsl fvnds 8168,743 12,166A12 IIJfi76J741 9J58A81 D¢Alan•tgd fvmll Deslonated lund5 cpmprtse the remalnlnu aff&)unt of the leycylromMl$s Elk8bath de Le{re¢01¥9d1n2OIG wknkh was reducod by a iransler of funds to the Gtneral Fuhds equlvalent to the ¢osts ol the stèlned-8lass tndOW arnountln8 to £59.031 whkh were ¢apitsllsed In 2020 and 2021. Durlng Ihe year the GovernorSaelEÈd to transler Into deslgnated ffund5 the unspeot balance ol the donatlon recelved ffom a loimer £overnor In 2022. R•Jtrfrted Restrictod funds Compflse donath>ns rerel¥ed s5 expenses Incurred In relatlon to thè Queen's G3t• Foundatlon, whlch was lounched 20D7 to ra15e lundJ for capltal projects •nd the pro¥lslon of bur5arles. 20 AAIAiVSIS oFN ASSE15 BEnvEEN FIJNDS Unrostrlcl•d general fvnds R•siild•d fvndj Oosl8nated funds Total Tan8lble Ilxed a35ets Cufiftnt assets Crèdltors: les5than one year Credltors: o¥ar onè year 12,378,560 6.864.474 S,83276) 14.345,5091 IZA78A60 7.15BM6 (s3276) 4?45J091 9358 163M45 130.887 163 130 UnY•strTLted ¥enerJl funds Rostrlrted lunds DeslBnaLed funds TDIAI Ton8lble fixed assets Current 455et5 Credltors.. lessth2n one year Credftors.. over one year 12,332,324 S.384,946 14.400.740) 14.636,9761 IIH31,324 S74,135 IqAoo,7401 4.636,976) 0 868 741 163,045 26.144 163
QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAI STATEMENTS (COhlTINUED) FOA ThIE YEAR ENDEO 31 AU6UST2024 21 R}LA1 PARIIES The School has taken ¥d¥antsAe of the exempllons under th• Ch•rlttÈs' Stètsnnt olRecomrn?nded Practlce ISORP IFRS 1021) not to d15close seNlces provlded a voluntsry bas15 by Governor% contracts ol employment between the School and its employee4 and ¢he repaymehi of 01-pOcket o¥penses where the Go¥erntsrs have a¢trd as oient for the school. Durln8 the year the school paid B1hl Lead Llmlled a sum 01£2,508 for the provlslon ol a coachlng pro8ramn* for one membfir gf stalf. a company whlch 15 owned by one of the Governors. Thefe were no related ptriy transattlons In 1023. 12 LFASE COMMIIMEWYS At31 Au¥urt2024 tho h0o1 had cornmlim•nts under non<8ncellabte operatln8 leag•sAJ follows: 2024 20Z3 Wlthln one year fiett¥een one and fftve years 9.090 15.575 24,666 9,591 141121 26