2022-03-31-accounts

THE CAMDEN SCHOOL FOUNDATION OF FRANCES MARY BUSS Charity No: 312763 FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31st MARCH 2022

The Camden School Foundation of Frances Mary Buss Financlal Statements and Trustees Report for the Year Ended 31st March 2022 CONTENTS Page: 2. Legal & Administrative Inforniation 3. Report of the Trustees Independent Examlnerfs Report Statement of Financial Activities 10. Balance Sheet 11. Notes to the Financlal Statements Pa8e I

The Camden School Foundation of Frances Mary Buss Legal and Administrative Information Trustees Lekha Klouda Angela Mason Janet Pope Penelope Wild John Atmore Diamond Ashiagbor Hannah Donat (op￿rrted Novembw 2019) Chair Sonior Staff responslblo for day to day running of the Foundatlon Agnes Ch￿1n0 Bursar (Yasemin 8riant from Autumn 2022) Rggl$t•red Offlce and Operatlng Addr￿$ Camden School for Glrfs Sandall Road London NWS 2DB Independent Examlners Moore KirvJston Smrfh LLP 9 Appold Street London EC2A Z4P Bankers The Ccpoperative Bank plc PO Box 101 1 Balloon Street Manchester M60 4EP Royal Bank of Scotland (Namlest) Camden Town Branch 166 Camden HKJh Street NW1 ONE Solicitors stone King Boundary House 91 Charterhouse Street LNKlon EC1M 6HR Tel: [phone] Page 2

The Camden School Foundatlon of Frances Mary Buss Report of the Trustees for the Year Ended 31°, March 2022 The trustees present thelr report and the unaudited financial statements for the year ended 31sl March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounling and Re[￿ing by Charities. issued in March 2005 in preparing Ihe annual report and financial statements. Status and Admlnistration The charity was established by the S¢heme of the Charity Commission datod 3111August 1993 and amended by the Scheme of th8 Charity Commission dated P January 2012. It is registered wth th& Charity Commlsslon No. 312763. The Trust is made up ol two ex•officio trustees and five c(popted trustees. The exvOPted trustees one musl be the School Govemor appointed by the London Borough of Camden and the rernaining four COwOPted trustees be presenl or eX￿0veM0Ts of Camden SC1K￿l for Glrfs. CTropled trustees are ele¢ted to serve for a period no longer than four years whereby th•y ¢an then be reappolnted by a resolution of the Camden Trustees. The ex4)fficio trustee nominated by the Bishop of London can Serve for period of three years and can be reapFrt)inted by Ihe Bishop of London at the end of Ihat period. The trustoes who served to dal? of ￿gnIng of the a¢counts:. Cowative Trustees: Hannah Donat Lekha KknKla Angda Mason Pendope Wikl Diamond Ashiagbc Ex Officio Twstees: John Atmora {AFfrt)inlee of ofLoth T￿p￿￿ted to Jun• 2023) Janet Pope (Chair of Govemors. Camden School for Gldsl Al Foundation Govemors are fulty inducted as goverrths ofthe $¢hool in a¢¢ordan¢e vAth best pra￿[C8. As a resuit they gain a thorough knowledge of the educational and financial needs of the establishment. its priorities and resour¢es. Onoing training ts given to Trustees wlh regard to their specific responsibilities as Trustee5. Legal updates on Trustees. responsibl￿tieS are arcuiated. and explained and discussed a5 require¢J at the nexl Trustees. meellng. Day to day decistons are made by the bursar and clerk in consultation with the Head teacher. and wher6 appropriate the chairs of trustees and of govemors. The trustees meet ￿vICe a year to make strdteglc declslons and refer thes8 to the bursar or clerk for actton. Revlew of Objects, ObJ8ctlvos and Acllvltles The object of the Camden School Foundation of Frances Mary Buss shall be the provision and conduct of a day school for girfs in or n&ar tho London 8￿ough of Camden. ¢alled the Camden School for Girfs. The schwl will hav& the pow8r to admit Iws to th8 sixth form. The principal purpose of the charity 1$ io secure tho futur6 of lh6 SCI￿)01. thts will involve the maintenance and development of the school V￿lIding$ in order to enhance the educational environment and experience of its pupils. The school will be a comprehensNe school which wdl serve the local communty by providing education for girls tse￿een the ages of 11 and 16 years. Places be alllxated using a banding arrangemenl lo ensure the school remains thoroughly comprehensive. It offers a wd84anging Currth1￿￿. excellent teaching and a wealth of extra- curricular opportunities. The $i¥th fom will admit gir15 and boys of rwThal s(wl age within its capacity who wish to continue their studies wlthin a school setting. These pupils will need to rneel the examination grade entry requirements to pursue the courses available. Page 3

The Camden School Foundatlon of Frances Mary Buss Report of the Trustees (continued) The developmenl of bulldlngs Is financed prlnclpaly by capttal grants from central govemmenL which normalty requlre a trustees. contribution of 10% of gross costs. However, certain larger projects have been supported by contrlbuUon from the Camden Local Athrity or a 100% central govemment grant. The Foundatlon Is allocated grants through a School ConditiC￿ Alocatlon {SCA capltal fundlngl. The SCA Is received through membership of an alliance wlth six other non-Diotssan Voluntary Alded schoo5s- known as 'Group 7SA' . comwlslng William Ellis School. The Latymer School. Central Foundatlon Boys. School. Ermysted's Grammar School. The Judd Sthool (18ad school). Prendergasi Girls. Schod as well as Camden School for Glrls. From the total SCA capital allocation for 2020-21. a total sum of £168.207 was ￿rrIed fop•vard. This amount has been alk)cated as folh)ws: Project 4- Canopy for swb fomi outdoor areas (£106.737). Thls project was completed In 2021-22 finandal year. 10% of this cost was covered by the Trustees. $ubsequ8ntly agreed (after the Baian¢e Sheet date) lo be donated by CASCA Prole¢t 5- Replacement of the Gym R￿f- £53.184. TNS project w88 compleled In Summer 2022. Prolect 8- Replacement of Hot water tanks in a boil6r rcom- £26,974 {partl This project was complatsd In Summer 2022. The Foundallon wa8 also allocated £293.045 Capllal fvnds In 2021r22. ThL8 has ba8n part all￿ated as follows: Project 8- Hot water Tank replacement (£3,240) (partl. Thls proSe¢t was completed In Summer 2022. Pr4ecl 7- Tollel Refurblshment (£55,425). Thls project was ￿Mpleted In Summer 2022. Project 9- Replacement of POlycart￿n8Ifr roof (£10,200). Thls proAe¢l was completed In Summer 2022. Project 6- Camdon Bulkllng Lfft {£33,840). Not yel started. Project 10- RelurbSghmenl of Art¥ and piwraphy rooms {£18.877). Thls proled was part complolod In Summer 2022. Prole¢t 11- ICT School Intemal 2 Core Swltch (£S9,0321. Not yol stsrted. Tho Foundatlon also received £28,9241£26,032-90%} In DFC fvndlng for year 2021122, thls was spent on heatlng System lrnprovements durlng 2021r22. 8tat•mont of Publlc Bon•fft 2021122 We have referred to the guldance In the Chwity CommlssKJn's general guldance on Publlc Banoflt when revlewlng our alm$ and objectives and In planning our futwe acllvili8s. In partlcular, the Trustee8 con8ld8r how planned activities will conthbute to tho aims and obiecbves they have sel. Tho Foundallon provides publlc benefit in the foltrwkng ways stated in ils obloctlves: . To Secure the future of the school.. this will Invofve the mainienan¢e and developmant of the school bulldings in ordar lo enhance th8 educational envtronmanl and expwbnce of Its pupils. The school is comprehensive. sepiing tho hxal commuimty by providing educgbon free of charge grls (and boy8 In the sixlh fomi). The Foundation has commltted to fund a totsl 10% Contr1￿110n for all the capltal funds committed to the sum of (£13,566) to all SCA and DFC rApltal works. This en8b￿d imwovements to the premlges and tha purchase of equipment up to the value of £135.662. These improvernents enhanced the education provlded and reduced future revenu¢ costs. The use of the school for rnusi¢al education provides a benefit io Ihe people of the Camden a￿a. The Muslc SeThlce run ty Camden Local Authority hires the school for ils pupib regularly at weekends throughout the year. The school also hosts rehearsals for adult musical soGielEs and a regular programme of open ¢on¢erts. including one specificalty aimed at children. available free to Ihe local ¢ommunty. The school has a rngular letting lo Rashidun School at the weekends wh￿h provKJes a regular inwffe. Pa8e 4

The Camden School Foundation of Frances Mary Buss Report of the Trustees {continued) Al school employ•e$ and volunteers are regularly DBS ¢he¢ked to ensure that risk to the school and Its students is minimised. DBS ¢ertlficates are renewed every three years. Senior m8mb8rs of staff have all undertaken safer recruitment tralnlng. Achlevemènts and Pertomiance Capltsl expenditurè for the year has been detailed in the Maln Annual Objectives above. The school was allocated SCA fijnding of £168.207 for 2020121 and £293,045 for 20211202218aving an unspent allocation of £365,188 to be carrfed forward. The s¢hooS has years to spend thls fundlng. The value of voluntary contributions recelved during the year was: Unrestrlcted Restrlcted Fundraising (inc unrestricted bequests) £58.074 Ancient Greek Foundation of Richard Platt Brewers. Co £899 Gift Aid Claim 21122 £10,845 £240 Rgntsl In¢ome In July 2021. 63 Barlholomew Road was redecorated and rented out at £979 per month. After the initial costs for decoraling et¢., have been deducted. th& income for the year came to £5.215. Reserves Pollcy It Is the responsibility of the trustee$ of the Foundation lo maintaln sufficlent fijnds to fulfil the role of the Trust re9arding the flnancial contribution towards the mainlenance and development of the school buildings as required ol the foundation of a voluntsry alded school. St has been the poliry of the charity to maintain its free reseryes at a leve which exceeds 3 months of cUr￿n1 year expenditure. It was agreed that the Foundation would 8nd8avour to increas the amount of free reserves over the coming years lo £450,000. Following the pandemi¢ In 2020121 build-up of the free reserves to £450,000 will take longer lo obtain than initialty planned. The maln expenditur8 of the Foundation consists of contributions to capital projects for which the expenditure patten Is known in advance. Other operatlonal expenditure is b31an¢ed for cash flow by regular income from donations by standing order. Capital payments are kept in a Natwesl account and all new fund raising is paid into the cO￿p account. As al 31st March 2022. the ¢harity had lolal reserves of £9,076,268 of which £8.564,875 were restricted funds {mainly buildings and landl and £64,240 wer8 designated funds. The remainder of £447,153 represented general reserv8s, which are being maintsined lo help fund the future commitments of the school in relation lo equipment. refurbishment. new building etc. 01 these, £36,427 was held In long temi Investments and £128,714 Included In fixe assets. This left £282.012 as lolal f￿e ￿ServeS. Cash reseN•S aro dlstrlbuted wlth the intention that no more than £85,000 Is held with any one institution. Thls may not always be possibl& on recelpt of large grants to cover larger building projects. Larger reserves may reprèsent an investment opportunity for the Foundatlon and further advice would need to be sought about the safest and most efficient investment vehicles. The trustees wlll revlew the reserves policy on an annual basis. Flnanclal Revlgw and Plans for Futur• Pèrlods The Foundatlon has been allocated the following amounls of grant funding for the year 2022123. School Condition Allocation {SCA}.' £290.023190%1, and Devofved Funding Capital {DFCI.' £26,117 {90Y•). The cary forward from 2021122 totalled £365,188 (90%) giving a total SCA funding level of £655,211 {90%1. Each yearf$ grant allocation Can be gpent over ￿ years if negdgd. Page 5

The Camden School Foundatlon of Frances Mary Bu55 Report of the Trustees (continued) Part of the SCA grants has been ccrfnmitted as Isted above. and the DFC has been allocated as follows1100%1: D1- Classrooms fumtiure1£8.217) D2- ICT Hardware {£7.642) D3- Signing in Safeguardlng System (£5,368) D4- Library Computers {£7.792) Furthar prolects. Including a long8r4em) sohjbon to the Music Building block and the refurbishment ol SEN block is lo be invostlgaled. The funding of this proje¢l will come out of the 2021-22 and the 2022-23 SCA funds as requlred. Inv•stment Pollcy The trustees. investment powers a￿ govgmed by the Twsl Deed whl¢h pemilts the charltl8 funds lo be invested In any security approved by th& Board of Trustees. Investments are currenty maintained In medlum risk funds partty based on gilts. stc(ks and share$. 98nerating both Income and capital. The Board's policy is to maintain the e￿sting Investment portlolio whllst drawing an adequate income to support the charitys objects. Thls Is reviewed on an annual basls by the trustees. Fundlng Sour¢•8 The charity recefves the ma￿ty of fts fundlng Ihrough thé D6p8rtment for Educatk)n (purnty 88 capllal grants), the occaslon81 legacy and donatlons from parents and frfands of the school. It18 F¢)undation pollcy to malntain Invastrnents in accounts for charltles. which exdud8 Stocks In area$ such as tobacco and 8mwmenls. One of the bank accounts Is held wlth Ihe Co4¥erative bank prlmarlly lor effectlveness and servlce roasons but a supporting faclor is the Coyerative's ethlcai tradlng pollcy. In vlaw of th8 rocont change of ownershlp this wbl be kept under rovlew. Rlsk Rovlaw As part of the charlV$ plannlng. there Is a process to assess buslness risks and to Implement rlsk management strategies. Thls Involves Idenbfying the types of rSsk the charity faces, prforitlslng them In terms of polential Impact and likellhood of occurrence and identifying the means of mltigatin9 the risks. The charity has a risk management poll¢y In place, whth was ratif￿1 in November 2008 and has slnce been reviewed and updated. The major risks to the Foundation we: The impact of covld-19 and tho Increased lack of fundlng. identifylng and appJinllrKJ Suitab￿ Truste8s and having a strategic plan for the Foundation. All fouf of these risks are agenda items at the Twstees. Meetings. Tha Foundation will need to minlmlse expendlture until th8 negative effect8 of covid-19 are reduced and fundraising has again increased. Page 6

The Camden School Foundatlon of Frances Mary Buss Report of the Trustees (continued) R¢sponslbllltles of the Trustees The trustees a￿ Trsponsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted Accounting Practice.) The law applicable to charities in England & Wares requires the trvstees lo prepare flnandal $talemenls for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and applicatSon of resources of the charlty for that period. In preparing these financial statements. the trustees are required to:. select suitable accountlng policies and then apply them conststently observe the methods and prlnciples in the Charities SORP; make judgements and estimates that are reasonable and prudent: Stale whether applicable a¢¢ounling stsndards have been followed. subject to any materlal deparbjres disclosed and explained in the financial statements: prepare the financial statements on the going concern basis unless it is inappropdate to presume that the charity will continue in business. The trusteeg are responslble for keeplng proper accountlng records Ihal disclose with reasonable accuracy at any lime the finan¢ial posilion of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provi$ions of the trust deeds. They are also responsible for safeguarding the assets of tho Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulari118s. All grants payable lo Camden School for Glris must be autho￿sed. In prlnclple. by Trustees al the beginning of the financial year and only transferred to tha school on aulhorlsatlon of the Trustees If Ihe funding is available. A rfsk assessment for the Foundalion Should be updated ea¢h year to hlghllght key rlsks and plans In place to manage these risks. Disclosure of Inforniation to Examiners The Trustees are responsible for making sure that all approwlate Infomiation 1$ made avallable to Examiners. Independent Examlners Moore Kingston Smith LLP have indicated their willingness to Gontinue in office. It Ss proposed thal the charity'$ requirements are reviewed before a decision is tak8n to appoint examiners for the next year. Approved by Board of Trustees on 9 November 2022. and slgned on Ils behalf by: Lekha Klouda Trustee Dated: 2& T_ 2025 Page 7

Independent Examiner's Repoit to the Trustees of The Camden School Foundation of Frances Mary Buss I r¢￿tt to the ttuses on mytxaminaoon of the accounts of th¢ Cgmden School Foun&tiott of Mary Bws lthcTDJSt) for th¢ ym etdcd 31 Mlrch 2021 Respon•ibiJldt8 #Ad bui6 olreport A5 the charity tntsrees of the Tr￿1 you are tespon$ibte for th¢ prcp2ratioTh of the ac¢ounts in ac¢oTd2n¢c with the requitemen of the Chitte8 Acr2011 Cthc Acty I report uj test%aof my examination of thcTntsVs accounts urrricd our uftdei section 145 of the 2011 Act and in c2rrJingout my l knve followcd AU th¢ ppbc2ble Directions %ivcn by the Charity Cornmission undcr s¢¢uon 145151(bl of the Ind¢pcndentex#mknef8 61•1¢rn¢nt l eonfimi tha¢ I ￿ ybficd to uod¢xtake the exarninitiort bc¢uK l a memkn ofthe ICAEW. vhi¢h one ofthe bsted both¢L I hAve ¢ompkted mYexami￿rI0n. I confLlrn that no tn#trtrs hove come to rny atteniion in connt¢tion with thc examin￿01) giving mc cause to believe.. 11 ￿COU￿￿￿KICCQr{Is Were nr>r k¢pr io r¢$pect of theTTh$r#s txqutrcd by section 130 of the Ac4 or the aceourtty do not a¢cord with thtssc records., or 31 the ateourtrs do not compl>. with tht appliubk req￿￿er[Lents tonettning the Eonn and content of 4¢COUOf8 S¢tout in the Ch9fiti¢s (Accoutkty ittd R¢pottsl RcgulAtiOn5 2008 other than any requiretnenr th#t th¢ a￿o￿llts give a'rNc and fairviewwhith i5 nor i maEr¢¢¢onsidcrcd 25 part of an Indep￿dent eX2rninauon. I have rto concems 9nd have CDme aetoss no oth¢i ttLztters in eot)nection with the ejwninarion trj which attention shouhj drawn in this rtport in OTd¢r w enabic a PTop¢ru¢)ders¢andingof the a¢¢oyThts to be reached. I Lr￿￿]Sh}&l L ShivAni Kothari, FCCA IACA, ICAEW) For and on behwlf of Moott Kihgston Smlth LLP Chartered kcount2nLS 9 Appom Street EC2A 2AP DI￿ 27 January 2023 Page 8

The Camden School Foundation of Frances Mary Buss Statement of Financial Actlvities For the year ended 31st March 2022 Unrgstrfctsd Funds Restrlctod Funds Total 2022 Total 2021 Not9$ Incomè from: Voluntary Income Rèntal Income Investments 69.781 5.215 1.063 122.335 192,116 5,21S 1,063 237.373 76,059 122,335 198.394 238,503 Expendltur• on: Ra181ng funds Charflable actlvitles 911 101,122 911 320,814 4,350 359,734 219.692 102033 219,692 321.725 Not In¢•m•ll•xp•ndlture} for th• year 125,9741 197,3571 {123,3311 1125,581) Tran•hr of fund• 13 113,5661 13.566 Inv••tm•nt gaIn￿{lO•s*S) 1,487 1,487 4.844 N•t movement In fund• 13 38,053 83,791 121,844 120.736 Tot•1 fund$ brought foTh¥8rd 1 Aprfl 549,446 8,848,666 9,198.112 9.318,848 Total fund¥ carrl•d forward 31 March 13 511,393 8 S64.875 9.076,288 9,198,112 Th•r8 are no recognlsed galns and losse8 other than tho$8 In tho $1418m8nl of flnanclal acllvllleg. All the above amunt8 r¥lat¢ to continuing actlvllle8. The notes on pages 1110 17 fom) part of these accounts. Page 9

The Camden School Foundation of Frances Mary Buss Balance Sheet As at 31st March 2022 Notes 2022 2022 2021 2021 Flxed Assets Tangible assets Investments 8.714,606 36,427 8,879,655 34,940 8.751.033 8.914.595 Current Assets Debtors Cash at bank and In hand 21.376 308.394 9.855 281.228 329,770 291.083 Crodltors: Amounts falllng due wlthln one year Net Current Assets 325.235 283.517 Net Assets 9.076.268 9,198,112 Funds General funds Deslgnated funds Restrided funds 447.153 64.240 8.564.875 403.023 146.423 8,648.666 13 9.076.268 9,198.112 The notes on pages 11 to 17 fonn part of these accounts. 9 /Voy 2022 Approved by the Board of trustees. and aulhorised for dtslritrxrtM)n, on ................... and signed on its behalf ty. Trustee Trustee Date: 2023 Page 10

The Camden School Foundation of Frances Mary Buss Notes to the accounts For the year ended 31st March 2022 Accountlng pollGIoS (a) Basls of accountlng The flnandal Stslemgnts have been prepared in accordan¢o with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). The Charltable Company is a public benefit entlty for the purposes of FRS 102 and therefore the Charfty also prepared ils flnanclal stat8menl$ In accordance wlth the Statement of Recommended Practice applic8bl8 to charities pr8paring thelr accounts in accordance with the Financial Reportlng Standard applicable In the UK and R8publlc of Ireland (The FRS 102 Charltles SORP) and the Charities Act 2011. The Charity is a publ1¢ beneflt company for the purpos8s of FRS 102. The Fin8n¢ial Statements are prepared in st8rfing thieh is the fun¢tlonal curr8ncy of the entity. Monetary ami)unts In these Financial Statements are rounded to the nearest pound. Golng concern The Injstees have assessed whether the use of the going concem basls 58 appropriate and have consldered possibl8 events or condlllon$ that mlghl cast signlflcant doubt on th• ablllty of the charlty to continu8 as a golng concom. The Iru$lee$ have made Ihi8 assessment for a period of al least one year from the dale of approval of the financlal stalemenls. Whllst donations may fall, the majorfty of income Is from grants whlch are recelved to facllilate works to the buSldlng8 and these works are only commilled to If fundlng Is in place- whlch th&y are for at least 12 months from the signing of the balance sheel. After maklng enqulrles the trustees have Goncluded Ihal there Is a reasonab18 expectallon that the ¢h8rSty has adequate r8sources lo conlinuo In operallonal exlstence for the foreseeabl8 futur&. Tha ¢hartty thorefore ¢ontlnu88 to adopt thè going concom ba81s In preparlng Ils financial $tal8menls. {bl Incom• Grants, Indudlng grants for the purchase of flxed assels, are recognlsed In full In tho Statement of Flnan¢lal Acllvllles In the ye8r In whl¢h Ihey ara recelvablg. Where entluemenl to grant income requires a 5pecSflc performance to be achleved11.e. perfomance related grant) then Incoming resources are recognlsed only to Ihe extent that the performance has taken place. Where monlas are recelved In advance of entlllemenl they are deferred and onty recognlsed when the activlty provldlng an entlllement to th1$ Income h98 tsken ptac¢. 1¢) R••our¢e$ •xponded All expendlture Is accounted for on an apxwals b831s. Resources expended ar8 recognlsed In tho perfod In whlch they are Incurred. R880urces expended Include attrlbutable VAT whlch cannot bo re¢ov6red. Staff cost expenses arè allocal8d on the basss of tlme spenl during tho year. A proportlon of salary costs for the bursar, finance staff and clerk are re¢harg8d lo the charlly from the school. (d) Dopr•clatlon DepreclatKin Is provlded al rates c81culaled to wrfte off th8 cost of gach asset ovor its oxpected useful Ilfe as folknvs.. Freehold bulldlngs 50 years - Slralght Ilne basls Flxtures and equlpmenl 25% reducing balance Items are ¢apitali$8d where the purchase prfce of the asset or lolal project •x¢eeds £2.000. Each Class of asset is valued at cosL {e) Investments Invgstments ar8 included at markot value as at the balance sheol date. Realised and unrealised gains or Ioss8S are accounted for withln the particular fund of which the asset forms a part and are recognised on the face of the SOFA. Page 11

The Camden School Foundation of Frances Mary Buss Notes to the accounts For the year ended 31st March 2022 (fj Fund a¢¢ountlng Unrestricted funds are donathjns and other inu)me re￿Nable or generated for the ob5ects of the charity vAthout further $pe¢ifi8d purposes and a￿ avallable as 9eneral lunds. Deslgnated funds are unrestricted funds earniarked by the truslees for partlcular purposes. Restricted funds are to b8 used for $p8cific purposes as LaKI dr2*m by donor. Expenditur• which meets these critefia is charged to the fund, tcg&ther ￿th an a110¢2tion of management and support costs rf appropriate. (gl Critical a¢¢ountlng estlmates and areas of judgement Estimales and judgements are continually evaluated arwj are based on histori¢al experience and oth8r factors Induding expecta￿ of fijture events thal We bel￿ed to be reasonable under the circumstsn¢es. l. Doprnciatlon charge The annual depreoation tharge for assets 1$ sensltNe lo changes in the estimated useful economi¢ lrfe of the assets. useful fves are rw$$essed annually and are amended bthere nocessary to reflect Current estimate$. 11. Salary re4haryes Salary recharges are made by Camden School to the Foundation based on estimated staff time spond by slaff employed at Camden School for support and administrative duties at the Foundation. (h) Flnan¢ial InstNments l. Cash and equlvalents Cash and cash equNalents indude cash at banks and wi hand and short terni deposlts wfth a maturity dale of three months or less. 11. Investments, debtors and ¢rgdltors Debtors and creditors receivable or pay3ble wthin one Jear of the repcwting dale are carried at their at transaction price. Debtors and creditors that are receivabb or paydbie in more than onp year and not subject to a market rale of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest. Investments We also basic financral instruments and ar8 ac￿Inted for as dexribed in note le) above. 2 Voluntsry Income Unrestrlcted Restrlcted 2022 2022 Total 2022 Grants Other donations 122,095 240 122.095 70.021 192.116 69.781 69,781 122,335 Unr•strlcted 2021 Rostricied 2021 T¢)tal 2021 Grants Otsr donatlons 173.210 2,990 176,200 173,210 84.163 237.373 61,173 61.173 Page 12

The Camden School Foundation of Frances Mary Buss Notes to the accounts For the year ended 31st March 2022 3 Invéstment Income 2022 2021 Unrestricted income from investments 1.063 1,268 4 Analysls of 2022 Total Exponditure Fundralslng Dlrect costs Support 2022 Total Staff costs Bank charges Charitable aclNitses Grants awarded to Camden School for Girls Fundraising costs Depreciation on fixed assets Audit and accountancy Legal and professional InsurarKe Sundry 7,500 36 1.165 1.165 911 911 300.710 4.535 6.418 200 250 300,710 4,535 6.418 200 250 911 302.125 18,689 321.725 Analysls of 2021 Totsl Expendlture Fundralslng Direct costs Support 2021 Total staff costs Bank charges Charitable acbvibes Grants awarded to Camden School for Girfs Fundraislng costs Depreciation on fix8d assets Audit and accounlancy Legal and professional Insuran Sundry 7.5CN) 7,500 36 17,727 17,727 4,350 4,350 325,392 325.392 8.013 159 8.013 159 907 364,084 907 344.026 15,708 No trustees received any remuneration during the yaar were any expenses reimbursed to trustees (2021: £Nil). Staff costs represent the costs ol staff empbJ*J by Camden SCI￿11 for Gwls and recharged to the Foundation. The charfty engaged an average of one pemanent staff12021: one). There are no higher paid eMp￿S duryw ts ￿r. 5 Nel in¢omo 2022 2021 This is sLiled after char9ing: Depreciation Auditors, remuneratlon - Audbt fee {net of VAT) - Independent examination (net of VAT) - Non audit seryices (net of VAT) 300,710 309,472 5.150 3,500 1.035 925 Page 13

The Camden School Foundatlon of Frances Mary Buss Notes to the accounts For the year ended 31st March 2022 6 Taxatlon The ¢harfty Is exempt from tax on inccrfne arthj galns faI￿ng Chapter 3. Part 11 of the CoTporation Tax Act 2010 or section section 256 of the Taxation of Chargeable Gains Acl 1992 to Ihe extent that these a app￿ed to its d*ritable objects. 7 Tanglble Flxed Assets Freehold Land lo Building$ Fixtures and Equlpment Total Cost At 1st April 2021 Additions 511.458 10,720.21 135,662 1.970.170 13.201.834 135,662 At 31st March 2022 511.458 10.855.868 1.970.170 13.337.496 Depreciation At 1st Aprd 2021 Charge for the year 2.680.744 218.527 1,641.436 82.183 4.322,180 300.710 At 31st March 2022 2,899.271 1.723,619 4.622,890 Ngt Book Value At 31st March 2022 511.458 7.956.597 246.551 8,714,606 At 31st March 2021 511,458 8.039,462 328.734 8,879,654 8 Investmonts 2022 2021 In￿StMents brought for￿rd 1st April 2021 Gainl{Lo&8) on revaluation of investrnents 34,938 1,489 30,094 Market value at 31st March 2022 36.427 34.938 Cost as at 31st March 2022 9.274 9,274 During the year. the Trust was dc￿ated art frfyn Schools TAY)rth £41.100. The art will be hekl at tsir value. Page 14

The Camden School Foundation of Frances Mary Buss Notes to the accounts For the year ended 31st March 2022 9 Debtors 2022 2021 Other debtors and prepayments 21,376 9.855 10 Cr•dltOTS: Amount$ falllng due wlthln one year 2022 2021 Accruals and defer￿d Income 4,$35 7,284 4.535 7,284 11 Flnanclal Instrurnents 2022 2021 Carrylng amounts of flnanclal a$$et$ Debl in$lrum&nts measured at market valuè 36,427 30,095 Carrylng amount of Ilnanclal Ilabllltles MeaSU￿d at amortised cost 4,535 7.284 12 Analysls of Not As$•ts b•lw••n Funds As at 31 March 2022 General Funds Deslgnaled Funds Restricted Funds Total Funds Tanglble fixed assets Investments Nel current assets 128,714 36,427 282,012 64,240 8,521,652 8,714,606 36.427 325,235 43.223 Net assets at 31st March 2022 447,153 64,240 8.564,875 9.076.268 As at 31 Mar¢h 2021 General Funds Oeslgnated Funds Restrlcted Funds Total Funds Tangible fued assets Investments N8t current assets 128,713 34,940 239,370 146.423 8,604.518 8,879,654 34,940 283.518 44,148 Net assets at 31st March 2021 403,023 146.423 8,648,666 9,198,112 Paga 15

The Camden School Foundation of Frances Mary Buss Notes to the accounts For the year ended 31st March 2022 13 Mov•ments In Funds At 1st Aprfl 2021 Transfers Incoming Outgolng between Investment 31$t March Resources Resources Funds Gains 2022 Restrlcted funds: Building Fund: DIE Others Welfare Fund Fundraising Specific Prol8¢ts School Productions Multi Use Games Area Misceltaneous An¢lent Greek 8,233,865 370,653 18,670 122,095 {218,527} 13.566 8,150.999 370.653 18.670 5.462 1.500 5,462 1,500 18,518 240 (1,165) 17.591 Total restrlctod funds 8,648,666 122.335 219.692 13,566 8,564,875 Unrestrlcted funds: General Designated.. Buikling Fund 403,023 76.059 (19.850) (13.5661 1,487 447.153 146,423 82,183 64.240 Total unr¢$trlctsd funds 549,446 102 033 13.566 1,487 511,393 Total Funds 9.198,112 198,394 321.725 1.487 9.076,268 At 1st Aprll 2020 Transfers Incomirtg Outgolng betwgon Investment 31st March Resources ResouT¢es Funds Losses 2021 Restrlrted funds: Building Fund- DfE Others Welfare Fund Fundralslng Specific Projects: School Productions Mulli Use Games Area Miscellaneous Ancient Greek 8.302,740 370,653 18,670 173.210 (288.2291 46,144 8.233,865 370.653 18.670 5,462 1,500 5.462 1.500 750 (750) 11,587 27,863 18.516 Total restrlctsd funds 8,726,888 176,200 46,144 300,566 Unrn$trl¢tad funds: General Designated- Building Fund 408.374 62,304 {26.355) {46,144) 403.023 183.586 37.163 146,423 Total unrestrlcted funds 591,960 63.518 46,144 Total Funds 9,318,848 238.504 364.084 9.198.112 Page 16

The Camden School Foundation of Frances Mary Buss Notes to the accounts For the year ended 31st March 2022 13 Movements In Funds (contlnuedl Purposes of Restrf¢ted Funds Bulldlng Fund DfE comprises fixed assets funded directly from the Central Govemment vla Department for Education (DFEI and Local Authority Grants. The following grants were receNed: Devolved Fomiula Capital {DFC} and School Condition Allocalion {SCA). The outgoing resources represant a proportion of the depreclallon charged in the year relating lo the buildings. Fundrai$lng $po¢ific projects These projo¢ts ralat& to donallons recelved form the donor for specific projects at Camden School for Glds. Welfare Fund Represents monies kept solely to provide financial support for pupils at Camden School for Girls whose circumstances are judged by Ihe headteacher to deprive them of appropriate educational opportunltleg. The fund is still at the Stage where balances are being built up with a view to providing grants from the major part of the Investment Income received. Deslgnated Funds Bulldlng Fund This fund r8presgn15 funds in frxed assets paid for by the Foundation, also subl•¢t to depreclatlon. 14 Related Partles Th8 FoundatM?n exists to provide fa¢illtl8$ and support to Camden School for Girls. During thè year th8 Foundation paid £7,50012021 .' £7,500) t¢)wards the costs of the bursar. finance department and clerk lo provlde a¢¢ounling and admlnlstrative support lo the Foundation. 15 Capltal Commltments At the balanc8 sheet dale the foundation was committed to capllal works to the value of £Nil12021: £Nil) in respect of refurbishment and allemation works io the School. Page 17