QUEEN ALEXLYDRA'S HOUSE ASSOCIATION
{A Reglstered Charlty and
Company Limited by Guarantee)
REPORT OF THE COUNCIL
AND
FINAIYCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Company Registered No.. 0004?575
Chariiy Regisiered No: 31?8?4

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
REPORT OF THE COUNCIL
YEAR ENDED 31 DECEMBER 2023
The Council present iheir annual report and tinancial statements for the year ended 31 December 2023 which are also prepared io
meet Ihe requirement% for a directors, repon% and account% for Companies Act purpo%e%.
The linanLial slalemenis comply with the Charitie% Act 2011, the Companies Acl ?006, lh¢ Memorandum and Articles of
Ay4ocialion. and Ihe Statement of Recommended Praciice for Charities (SORP 2015} (Second Edition, effective l January 2019).
REFERENCE AND ADMINISTRATIVE DETAILS
Princlpal Address and Registered Office
IJrLmner Road
Kcn4inglon Gorc
l.i)ndoii SW7 2QT
Ibresident
I I.11.11. PRINCESS ALEXANDRA, THE HON. LADY OGILVY. K.G., G.C.V,O,
,￿li￿nIb¢r5 of the Councll
I'II¢' IllLiiibers of the Council are the Charity Trustees of the A44ocialion and are lisled below. The numbers after each Member
.%igpiiily their represenlalive bodies as shown on page 2. Menibcrs of Ihc Finance & Management Committee during the year are
iIILIiLiilLd with 'F' after their names..
A I liirvcy Esq {Chainnan) - ( l ) F
A III).%L L.%q (4) F
Mr¥ A M Gillon OBE- (4) F
S C()rbyn E¥q (2)
M I lJdltsnd Lyq - (3)
Ms /. SLra¥Lldin { l )
Mr8 N Martyn- (l)
Ms P Li.4boa - (2) resi&Jned 14 N()vember 2023
J Blake l.'sq (? I
Ms A BcrhaiiioviL (3)
The Fli)ii. R C I.yllLII()n 1311..
R G BLII F-44 14)
ML'nibcrs of Ihe Council are appointed every Iillli yLiir oli bLhalt of repre¥cnlalive bodie%,
IIou5e Commlttee, Prlnclpv41 and Professional Advlsers
IIou5e Comrnlttee
Arehitects
M.% P l.i4boa (Chairnian)
Mr.% S l)aw4011 Resigned Summer 2023
Mr¥ N Marlyn
M4 £ SLr&igicldiii
Mr% J SirclllbPLW4ly¥
Mr S (iril'l lili.
Mes%rs Ansell & Bailey
London
Prliielpxl #lid Company Seeret&ry
Ms S Browii
Auditors
Haysmacintyre LLP
10 Queen Street Place
London EC4R IAG
Bankers
Natwesl plc (to November 2023)
55 Kensington High Street
London W8 SEQ
Handelsbanken (from April 2023)
?1￿ Floor, l ?5 Kensington High Sireel
London W8 5SF
Company Registration Number: 00042575
Chirlty Registration Number: 312824

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
REPORT OF THE COUNCIL (Continued)
YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Statu5 and Administration
The organisation is a charilable company limited by guarantee, number 00042575. The charitable company is governed by lis
Memorandum and Articles of Association, dated 26 November 1894. The Trustees are currently conducting a governance review.
Recruitment, Induetlon and Iraining of Members of the Coun¢ll
The directors of the company are also the charity trustees for the purposes of charity law, and under the company's articles are
known as Members of the Council. In accordance wilh Ihe Memorandum and Articles of Associalion the members of Council are
appointed by HIUI Princess Alexandra (i), the Commissioners for the Exhibition of 1851 (2). the Royal College of Music (3) and
the Department for Education (4) and serve for five years and may be re-appointed every fifih year. All members give their time
voluntarily and receiv¢ no benefits from the charity. They make the major decisions affecting the affairs of the charity. All new
members ore provided with inforniation on the responsibility of being a Trustee and, from lime lo lime, are sent details of courses
and seminars which may be relevant lo their responsibilities. The charity does not use volunteers. Members of the Council
themselves are appointed with wide experience clsewhere which they bring to Ihe benefit of the charity on a voluntary basis.
Organlsatlonal strueture
Council meetings are held three times a year and are preceded by Financ¢ and Management Committee meetings. The House
Committee meets three times a year lo discuss with the Principal matters relating lo the running of the House, improvements,
catering and residenl%' welfare. An invitation is sent 10 all residenls'to speak lo the House Committee Chairnian and the Principal
before the meeiings, Implemenlalion of Council decisions is the responsibility of the Principal and her management team. The
Principal reports at Council Meetings on operational matters. The Council sets Ihe remuneration of key management personnel
(KMP, comprising the Principal. the Head of Mainl¢nan¢e. and the Housekeeper) annually having regard lo local and nalional pay
evels and relevant pay indice¥.
OBJECTIVES ALYD ACTIVITIES
The principal activity of the Associaiion is the provision of accommodation for women studenls engaged in ￿11 lime education. As
result of Ihe expansion of women's Iraining in the 1870s there was a pressing need for more facilities for the accommodaiion of
girls. The House was built in 1884 as a cusiom-buili hostel from money provided by several benefactors, including Sir Francis Cook,
Chainnan of Cook's of Si Paul's Churchyard, and Henry Doulton of Doulion & Co, the pottery and tilemaker. The beneficiaries of
their largesse were from the very beginning girlb in statu pupillari. priority being given lo students of music. The aims were to
provide reasonably priced and secure hostel places with full board for girls and young women coming lo London from the provinces
or from overseas. If this was a practical and necessary aim in the 18805, It is even more important today, when the cost of
accommodation limits severely Ihe availability of yafe and suitable place5 where 51udenls may lodge in central London. An added
feature of the House is its design to give students of the arts a centre where they ¢an practice, rehearse, and perfonn. This is a much
needed benefit as there is very little practice and perforniance space available in central London. The President al the foundation
was Princess Alexandra of Denmark, the Princess of Wales and later Queen Alexandra. Queen Mary and the Duchess of Kent
succeeded to the presidency followed by the present president H.R.H Princess Alexandra. As the chariiy operates in the ceniral
London market for student accommodation, il continuously monitors developments in that sector and the potential effects of
competition on ils slaied occupancy levels. Deposits are taken in advance for future lelling periods. a waiting list is maintained, and
fees are reviewed annually with reference lo similar providers. Sound budgeting and financial plans are in place and are updated at
least three limes a year to further enable its aims to be achieved. The charity's principal short-lenn objectives are lo provide a safe
and happy environment for over l 00 resideni female students, and to OPlimi5e occupancy levels. The longer-tern] aim is lo improve
the quality of accommodation by up-grading the property both internally and ¢xternally within the parameter5 of a 5 year plan and
as filnds pennit.

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
REPORT OF THE COUNCIL (Continued)
YEAR ENDED 31 DECEITrlBER 2023
OBJECTIVES AND ACTlVI'fiES (Continued)
Public Benefit
We have paid due Tegard lo Ihc giiiidance on public benefit contained in the Charity Commi¥sion'5 literature when reviewing our
aini% and objectives, and in planiiingi our fulure activities. W¢ have sel aside a bur.sary fund for rc%idenis who are in financial
dI￿lCUltY and need assistance willi accommodation fee8.
What 1$ the accommodatlon In Queen Alexandra's House.
When the house was built in 1884 Iliere were rooms for 130 girls. in 1976 a large part of the building including m081 of the public
room% was leased to the En¥lish Nalional Ballet (ENB) in order to fund extensive upgrading requirements, and that lease wa8
a¥%igFned lo the Royal College of Mu4ii in ?021. A5 a resuli of careful adapialion over a number of years, there are 108 rooms with
gi()()d iiiiemei facilities available whicli frequently attain maximum levels of occupancy. From the very foundation of ihe House
IlIL'rL' l)ave been many overseas student% who have come to London to study and have di4cov¢red in QAH a safe place to reside and
l() <illLnd (heir courses. In the 1960y there were stydents from many Commonwealih ¢ounlrie4 including Canada, Kenya and India-
l() IIIL'se and 10 many Sludenls froni all parts of the United Kingdom there have been added students from the Far East including
(.'liinii and Japan. The 2023 residenis represented 27 different nalionalilies. li has alway% been the poliLy of Ihe House to mak¢ no
riiLL, Lolour or religious distinction. All are welcome and this is very much 10 Ihe public benefit.
I IIL. Charity's Constitution makes provision to "assisi female studenis wilh grant.4 of money and other aid and to found scholarships.
L'xliibilions and prizes for female students.,
ACIIIEVEMENTS AND PERFORVIAIYCE
During the 20?2123 seme41Lr% l O¥1 ILniale ¥ludL'nl¥ 4layed at QAH. They were sludying at the following ins1itulion￿, numbering 19
Irom Ihe Royal Collegye ol. Mu%iL, It Iroiii Ilic11()yal College oft. Art, 56 froni Imperial College, l O from the English National Ballel.
I Iroiii.Ihe Royal Acadeniy ol. MUNIL, ? Iri)iii IlIL CL'I)Iral SLI)ool of Ballet, 3 Irom Kings. 2 from the Guildhall School of Music and
6 Iroiii MPW. 2 %ludcn14 luiiic fr()iii ()IIILr iii%liluli()ii%.
'riie Reception i¥ operaiional 24 houri 41)d pailoral ¢arc pr()vidLd Ilin)uLh()ul Ihe residcnly, slay at QAH, which is welcomed by the
residen1% paren1¥ and guardian4 alike. IILsidLiil% have aLLCS% lo lililliy l()riii.% of comiiiunicalion with the Principal and the senior
Inana¥emeni team, A .4Ub¥esiion box iy provided and an open-door polily adopied,
Malntenanee of the House
Quccn Alexandra'$ House is a Grade 11 listed building in free Jacobean/Queen Anne revival style promineiitly localed nexi to the
Royal Albert Hall. Much effort and activity 15 directed towards its maintenance as a purpose-buili hostel and pan of London's
Ii¥rilagye. The House has no endowment lo fund shon or long-lem] maintenance. Approximalely £109,000 was spenl on replacing
Il)0 Iirc alarni system and related maintenance. Oiher repair works were carried out on Ihc boiler systems and kitchen facilitie4 were
updaled lo enhance catering facilities.
'IIL' Lharily has noi encouniered any %ig7nificant factors in 2023 that have affected the achievemeni of its objeciive.
INANCIAL REVIEW
The main source of income i% Ilie tees received for student accommodation. Expenditure consis15 principally of the cosis of
maintaining the property and caleriiig lor the .4ludenis. The Sial¢ment of Financial Activities discloses nel expendilure of £26.691
(2022: £53,369 net income). Occupancy levels saw a significani uplift in the Summer and Autumn lem]s with occupancy levels at
capacily in the Autumn lerni. The cliarily oonlinued wilh its commitment to updating facilities with the refurbishments lo the fire
lann and boiler system%.
The charity doe5 not fundrai4e direct from members of the public.

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
REPORT OF THE COUNCIL (Continued)
YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW (Continued)
Reserves Poliey
The Council's current policy is to maintain 'free reSe￿eS, (Unrestricted general funds less net book value of fix¢d assels) at
approximately the level of six months, recurring expenditure which amounted to around £550,000. free reserves were £437.325 at
3 l December 2023. The target 15 not achieved at only 4.0 months (2022 - 5.5 months with a 6 month target). At 31 December 2023
general funds amounted to £503.806 (2022.. £549.185). Designated funds. being amounts sel aside to replace major plant and
equipment (The Building Capital fund) and to assist resid¢nls in financial difficulty with accommodation fees (Bursary Fund)
amounted to £420.000 (2022.. £401.312), making total fi]nds of £923,806 (2022.. £950,497).
The Building Capital fund will ultimately be used to replace major plant such as the lift and boilers, at the end of their useful livcs.
The timing is estimated to b¢ beyond 15 years {i.e. after 2030). Under the 5-year rolling plan, the fund balance was £400,000 by the
end of 2023. Although the results for the year were a nel expenditure position, the charity has sufficient reserves and income
generating activities 10 ensure it can meet ils financial obligations for the foreseeable future.
Rlsk Management
The Council has reviewed the major risks to which the Association is exposed. in particular those related io the operation and
finances, and are satisfied that systems are in place to mitigate exposure lo these risks. A cornpliance register is kept. The Ihree
principal risks identified as uncertainties that mighi confront the charily are i) a loss of income through a sudden fall in demand; ii)
the need for any major unplanned capital Spending. and iii) any medium-lerm social changes affecting ihe central London
accommodation market.
These main risks are managed and for the most part miligaled by i) short-lenn ongoing income review and maintenance of a waiting
isl; ii) the regular monitoring of a 5-year rolling capital plan; and iii) regular liaison with other major providers of London student
arcommodation,
Policies and Procedures has been pul into place al Queen Alexandra's House to ensure government statutes and guidelines are
adopied. Occupancy levels are expected to continue being optimal and it is aniicipaled income will be consistenl in 2024.
Investments Pollcy
The Coun¢il have the power 10 invest in such asse1¥ as they see fit. No invesimenis were held.
FUTURE PLANS
The Associalion plans lo attain maximum levels of occupancy in future years. This it intends to achieve by mainlaining its premises
in a good state of repair and providing excellent catering and other facilities lo ensure the House continues to meet the expectations
of lis preseni and future residents. In order to achieve the flexibility to make progress possible it IS the Council's intention to keep
reserves ai the target level. In Support of these policies, Ihe Council has prepared a "Five-year capital improvement plan" which is
reviewed ai each meeting. The Members of the Council's slated aim now and for Ihe foreseeable ￿tUre is to continue the provision
of female student accommodation on its original site and to oversee necessary improvement, as it has done since opening in 1884.
Ai present they believe that thai perspective will remain a constsnt in its future direction,

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
REPORT OF THE COUNCIL {Contlnued)
YEAR ENDED 31 DECEMBER 2023
STATEIMENT OF MEMBERS OF THE COUNCIL'S RESPONSIBILITIES
-rhe Member8 of ihe Council (who are also the Iru8iees of the charity for the purpo4e4 of charity law and al%0 direciors for the
purpo￿* of company law) are responsible for preparing the Report of the Council and the financial statemenis in accordance with
applicable law and United Kingdom Accouniingi Standards (United Kingdom Generally Accepied Accounting Praciice).
Conipany law requires the members of the Council lo prepare financial statements for each financial year which give a INe and fair
view ol" the slate of affairs of the charitable company and of ils income and expenditure for thai period. In preparing Ihese financial
lalemenl%, the members of the Council are required to:
cleLI %uilablc accounting policies and then apply Ihern consi.4tenily;
ob%Lrv¢ Ilic n)cihods and principles of Ihe Charitie% SORP.
iiiiik¢ jud¥peiiients and estimates Ihat are reasonable and prudent:
.%16llc' wliLilIL'r applicable accounting standards have been followcd, 4ubjecl lo any material departures disclosed and explained in
IIIL l illiinLial slaiemenis.
prLpar¢s the financial slalements on the going Concern basis unle.55 il i.¥ inappropriate to presume Ihat Ihe company will continue in
I'IIL IIIL117ber% of the Council are re,sponqible for keeping pr()PLr accounting records that disc108e with reasonable accuracy al any
liiiity Il)L. Iii)ancial posiiion ol Ihe charitable company and LiIAble Ihem to ensure that the financial slalements comply with the
C()Iiipai)iL'4 Act 2006. They are al%0 re.%pon.%ible for ¥al¢bpiiurding the a54el.4 of the charitable company and hence for taking
rL'il¥(?i)able .steps for the prevL'nlioii and delL¥lion ot. fraud iiiid i)Iher irre&yularitie.%.
.SL) lur as each of the menibLpi ofiliL. C'c)UnLiI 4ifc <iwarc al IIIL liine the report 1.4 appr(IvLd..
Ihere 14 no relevant audit int"orniuliiJn i)I' wliiLli IIiL LÉ)ii)puny'5 audilor* urL unawarc; ￿nd
Ihe members of the Couiicil havL iakL'n all %lLP¥ Ili¢il IliLy oughi lo liavc taken lo n)ake I1)eM￿.]ve8 aware of any relevani audit
infornialion and to e%iablit4h thai IliL audilc)r% arL' &Wu￿. of that infonnaiioii.
AUDITORS
A T(.￿)IuliOn proposing the re-appointment of Haysmacinlyre LLP as audilors 10 the company will be pul lo the annual ¥eneral
lil prLTr41riiigi Ili1% report the Trustees have taken advantage of Ihe small companies exemptions provided by Part15 of the Companies
ALI ?111)().
On behalf of the Board
26 MarLlI 20?4
Ken%ingilon Gore
Londoii SW7
A Harvey Esq (Chaiman)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
QUEEN ALEK4f*DRA'S HOUSE ASSOCIATION
Opinion
We have audited the financial stalemenis of Queen Alexandra'5 House Association for the year ended 31 December 2023 which
comprise the Sialemenl of Financial Activities, Balance Sheet, Statemenl of Cash Flows and notes lo the financial slalement¥.
including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation
15 applicable law and United Kingdom A¢¢ounling Standards, including Financial Reporting Standard 102 The Financial Repoi'ling
Siandai'd applicable in ilie UK and Repiiblic ofIi'eland (United Kingdom Generally Accepted Accounting Practice).
In our opinion. the financial statemen15:
give a true and fair view of the state of the charitable company's affairs as ai 31 December 2023 and of ihe charitable
Company's net movement in funds. including the incorne and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Compani¢s Act 2006.
Basls for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for ihe audit of the financial statements
section of our report. We are indcpendenl of the charity in accordance with ihe ethical requirements that are relevant to OUT audit of
the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our oth¢r ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Concluslons relating to golng concern
In auditing the financial staiemenis, we have concluded thai the Members of the Council'5 use of the going ¢oncern basis of
accounting in the preparation of the financial slalemenis is appropriate.
Based on the work we have perfomed, we have not'ideniified any rnaterial uncertainties relating (o events or conditions that,
individually or eollectively, may cast significant doubl on Ihe charitable company's ability to Continue as a. going ¢oncern for
period of at least twelve months from when the financial statements are auihorised for issue.
Our responsibilities and the responsibilities of the Members of the Council with respect to going concern are described in the relevant
eclions of this report.
Other Informltlon
The Members of the Council are responsible for the other infornialion. The oiher infornialion comprises the infonnalion included
in th¢ Report of the Council. Our opinion on the financial slalemenls does noi cover the other inforniaiion and, except to Ihe extent
otherwise explicitly staled in our report. we do not express any fomi of assurance conclusion thereon.
In connection with our audit of the financial Slalemenls, our responsibility is to read the oiher infonnation and. in doing so. consider
wheiher the other inforniation is materially inconsistent with the financial slalemenls or our knowledge obtained in the audit or
otherwise appears lo be materially misslaled. If we ideniify such rnat¢rial inconsistencies or apparent material misstatements, we
are required lo deterniine whether there is a material misgiaiement in the financial statements or a material rnisstatem¢nt of Ihe other
inforniation. If, based on the work we have perfom)ed, we conclude that there is a material missiaternent of this Other inforniation,
we are required io report thai fact. We have nothing to report in Ihis regard.
Oplnlons on other matters prescribed by the Companles Aet 2006
In our opinion, based on the work undertaken in the course of the audit:
the infornialion given in the Report of the Council (which incoryorates the directors. report) for the ftnancial year for whi¢h
the financial statements are prepared is consistent with th¢ fmancial statements- and
the directors. report Included wiihin the Report of the Council has been prepared in accordance with applicable legal
requirements.

INDEPELYDENT AUDITOR'S REPORT TO THE MEMBERS OF
QUEEN ALEXANDRA'S HOUSE ASSOCJATION
latters on which we are required to report by exeeption
In the light of Ihe knowledgye and Unde￿landIng of the charilable company and it% environment obtained in the course of the audit.
we have nol identified nialerial mi%%lalemenls in the Report of Ihe Council (which incorporates the directors, report).
We have nothing to report in resp¢cl of the following mattepi in relalion to which the Companies Acl 2006 require4 U4 to report lo
you if. in our opinion..
adequate accounting record% have not been kept by th¢ charitable company; or
the charitable company financial slatemenls are not in agreement wilh Ihe accounting records and retUrn￿- or
ertain disclosure% of Members of the Council's remuneration specified by law are nol made. or
we have not received all the inforniation and explanation¥ we require for our audit; or
the trustees were not entitled to prepare the financial slatements in accordance wilh the small companies, regime and lake
advantage of the small companies, exempiions in preparing Report of the Council and from Ilie requirement lo prepare a
siralegic report.
RL'%ponslbAllties of Member5 of the Couneil for the flnanclal slY4tements
L'.xplained more fjjlly in the Statement of Member8 of the Council Responsibilitie% 4el out on pagye 5, the Membepb of the Council
wlio are also the trustees of the charitable company for Ihe purposes of charily law and direLior4 ot" the charitable company for the
purpo4es of company law) are responsible for ihe preparaiion of the financial %lalemeni4 and t.or being 4ati%fied rhat ihey give a true
Iiiid fair view, and for such internal control as the Members of the Council deiemine 14 nece%sary lo enable the preparation of
Iiiiaiicial statements thal are free from material misstatement, wh¢ther due 10 fraud or error.
n preparing Ihe financial 4talemenly, the Members of the Council are re¥pon4ible for a4¥e%%ing the charitable company'5 abilily to
onlinue as a gotng concern, di%clo4ingy. as applicable, mallers relaled lo gioing concern and using the going concern ba%1% of
aLcounlingy unle%% the Mcii)ber¥ of the CounLiI eiiher intend lo liquidale Ilie Lhariiable company or lo cease operations, or have no
reali%lic aliemative bul lo do 50.
Audllor'% rcspon51bllltle5 for the Hiidlt ()f tlio fiiiaijclhl st￿ten1¢￿t5
Our objLLIivLY are to obiiiin rL'(1S()iiublL i1sxuran¢L' i)b()ul wliLilier IIiL liiiancial 4tatemenls as a whole are free from material
mi*,Ilalemenl, whether due lo IrÉiud ur L'rror. aild 10 i%%UL 1111 Mudili)r % rLPOrt Ihai includes our opinion. Reasonable assurance 15 a
high level of a8suran¢¢, but i¥ i)ol a giuaranice Iliui an audii LoiiduLl¥d iii aLcordance wilh ISAS (UK) will always detect a material
mi%%lalemenl when il exi815. Mi4%1aieinent% Lan arise I'roni traud c)r crror and are considered material if, individually or in the
aggre&yal¢, they could reasonably be expected lo influcnr¢ Ihe econoniic decision% of users taken on the basis of these financial
slalemenis.
Irregularities, including fraud. are instances of non-compliance with laws and regulaiion%. We de%ign procedures in line with our
responsibilities. outlined above, lo delect material mis¥ialements in respect of irregularilie%, including fraud. The extent to whioh
our pro¢edure$ are capable of detecting irregularilie5. including fraud is detailed below..
Ba4ed on our under51anding of the charitable company and the environment in which it operales, we identified Ihal the Principal
risks of non-compliance with laws and regulations relaied to compliance with employment law, healih and .4afety regulations and
chariiy law, and we considered the extent to whlchinon-compliance might have a maierial effect on the financial statements. We
also considered those laws and regulations that have a direct impact on the preparalion of the financial slalemenl¥ such as the
Companies Ac12006 and th¢ Charities Aci 2011.
We evaluaied management's incentive% and opportunities for fraudulent manipulation of the financial slalemenlg (including the risk
of override of controls), and deterniined that the principal risks were relaied lo recognilion of income and managemeni bias in certain
accounting esiimates. Audit procedure.s perlornied by the engagement team included..
Inspecting minute% of Council nieetings.
Inspecting corre4pondence with regulalors and tax auihorilies.
Discussions with managTement including consideration of known or SU¥*pecled instances of non-compliance with laws and
regulations and fraud-
Evaluating managyeinenl. % controls designed io preveni and detect irregulariliey.
Ideniifying and lesling, journals, in particular journal entries posled at the year-end and with unusual descfipiions; and
Challenging assumption8 and judgements made by management in their accounting eslimales.

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF
QUEEN ALEXANDRA'S HOUSE ASSOCIATION
Because of the inherent limiiaiions of an audit, there is a risk that we will not delect all irregularities. including those leading to a
malerial misslaternent in the financial statements or non-cornpliance with regulation. This risk increases the more thai compliance
with a law or regulation is removed from the events and transactions reflected in the financial siaiements, as we will be less likely
to become aware of instances of non-compliance. The risk is also greater regarding irregularities oCCu￿1ng due lo fraud rather than
error, a8 fraud involves intentional concealment. forgery, collusion, omission or rnisrepresenlalion.
A further description of our responsibililies for the audit of the financial statements is located on the Financial Reporting Council's
i-ij UL dlidil
rsris
This description fornis part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companie
Acl 2006. Our audit work has been undertaken so that we might state to the charilable company's members those matter5 we are
required lo slate lo them in an Audilor's repon and for no other purpose. To Ihe fullest extent perniitted by law, we do nol accept or
assume responslbility to anyone oiher Ihan the charitable company and the charitable company's members as a body, for our audil
work, for this report, or for the opinions we have fornied,
Tracey Young (SeniDr Statutory Auditor)
For and on behalf of Haysmaciniyre LLP, Statulory Auditors
14
10 Queen Street Place
London
EC4R IAG
March 20?4

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPELYDITURE)
YEAR ENDED 31 DECEMBER 2023
Unrestricted Funds
General
Designaled
Total
2023
Unrestrlcted Funds
Total 2022
Note
INCOME FROM:
Charilable aLlivilies - accommodation
1.245,693
1,245,693
1,085,484
DDnalion% and legacies
2,250
2,250
15,593
Iiivcslnieiil income - bank deposit interest
16,293
16,293
3,566
l)IliL'r iii¥oi)ie
15.947
15.947
33.875
.280.183
1.280.183
1.138.518
'.XI>*;NDITURE ON;
L'liiirilable activity - prov14ion of accommodalion
1.306.874
1,306.874
1,085,149
Net (cxpenditure)lincome before tran%f¢rs
126,691)
(26,691)
53,369
'I'ruiislL'r% between tund8
(18.6R8)
I X,()Xll
I Tr;'I' MOVEMEIYT IN FUNDS
(45.379)
18,688
(26,691)
53,369
RI.'C'C)NCILIA TION OF FUNDS..
.1 ()'I'AI. I.'UNDS BROUGHT FORWARD
549,185
401,312
950,497
897,128
'I'C)'I'AI. ￿ UYDS CARRIED FORWARD
503,806
420,000
923,806
950,497
InconiL aiid L.xpenditure account informalion iy Ll¥'urly identified above.
All inLoiiiL aiid expenditure derive froni Loi)liiiuii)gi activities.
The acionipanying notes forni part of the.4e aicounl%.
The comparalive Sialemenl of Financial Activities for 2022 can be found in note 12 10 these a¢¢ounls.

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
cOmP￿Ny REGISTERED NO: 00042575
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Iyotes
FIXED ASSETS
Tangible assets
66,481
49,283
CURRENT ASSETS
Debtors
Cash ai bank and in hand
80,158
1,314,988
14.482
1,449,256
1,395,146
1,463,7J8
CREDITORS - due Ivlthln one year
Other creditors
Fees billed in advanc
Fee dcposits
93.475
386.208
58,138
109,021
402.203
51,300
537.821
562.524
NET CURRENT ASSETS
857,325
901,214
NET ASSETS
923,806
950,497
Represented by..
UNRESTRICTED FUIYDS
General
Designated Fund
503,806
420.000
549,185
401,312
TOTAL CHARITY FUNDS
923,806
950,497
Approved and auihori5cd for is5uc by the Council of Management on 26 March 2024 and signed on its behalf by..
A Harvey Esq (Chairman)
Thc accompanying notes forn] pan of thesc accounts.
10

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Cash flows from operating Aetlvltles:
Nel (expenditure)lincome for the reporting period
Deprecialion charges
Dividends and inlerest
(InLrease)Idecrease in debtors
{l)e¥ease)lincrease in creditors
(26,691)
17.839
(16,293)
(65.676)
(24,703)
53,369
12.187
{3,566)
39,504
93,033
N¢¢ cash {u5ed In)Iprovlded by operatlng aellvltles
(115.524)
194.527
Cash flows from Investlng actlvltle$'.
l)ividends and interest
l>urclia¥c of iangible fixed as¥eis
16,293
(35,037)
3.566
Nel cash (used In)Iprovlded by investlng icllvltle$
(18,744)
3,566
Change in ¢a$h and cush equlvaloi)ts In the year
(134,268)
198,093
Cash and cash equlvalciiti at the bo%iniiin% uf thc
year
1.449.256
1.251.163
Cash and cash equlvalents At the end of the year
1.314.988
1,449,256
Analysls of e&sh ind eaih equlvalents
2023
2022
Caqh at bank and in hand
Notice deposits
460,037
854,952
929,930
519,326
'rotal cash and cY45h equlvalents
1.314,988
1,449,256
Analysls of changes In net funds
Other
non-eash
ehanges
At31
December
2023
January
2023
Cash flows
Cash and bankldeposils
1,449,256
(134.268)
1.314,988

QOEEN ALEXANDRA'S HOUSE ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
The principal accounting policies adopted, judgemenis and key sources of estimation unr¢rtainly in the preparation of
financial slalements is as follows..
Basls of Aecountlng
The financial statements have been prepared in accordance with the Statement of Recomrnended Practice for Charities
(SORP 2015) (Second Edition, effective l January 2019) and the Companies Act 2006.
Queen Alexandra's House Association meets the definition of a publio benefjt entity under FRS 102. Assets and
liabilities are initially recognised al historical cost or Iransaclion value unless otherwise stated in the relevanl
accounting policy note(sl.
Preparatlon of the accounts on a golng concern basls
Having considered fvNre budgets and cash flows, Ihe Members of the Council confimi that they have no maierial
uncertainties about the entity's ability lo ¢ontinu¢ as a going Concern for the foreseeable fvNre.
E$tlmAtlon uneertalnty
In the view of the members of the Council in applying ihe accounting policies adopted, no judgements were required
that have a significant effect on the amounts recognised in Ihefinancial statements nor do any estimates or assumptions
made carry a significant risk of material adjustment in the next financial year.
Flxed assets
Expenditure on fixed assets is capilalised where Ihe cost (or Ihe value if donated) is in excess of £5,000. oihenvise il
is wrillen off through ihe Statement of Financial Activities. Costs of replacemen15 Of major equipment and pianos are
harged lo designated fundy set aside for that purpose by appropriaiions from Revenue.
Tangible fixed assets are depreciaied at rates calculaied to write off the ¢ost, le55 e51imaled residual value of each
asset evenly over its expected life, as follows:.
Long leasehold improvements
Fumiwre, fittings and equipment
Plant
- 20/0 per annum
33 1130/0 per annum
I 00/0 per annum
Debtors
Trade and oiher debtors are re¢ognised at the 5¢ttl¢menl amount du¢ after any trade discount offered. Prepaymenis
are valued at the amount prepaid net of any trade discounts due.
C4$h at bink and in hand
Cash ai bank and in hand includes bank accounts, cash and short t¢rni highly liquid investments with a short maturity
of Ihree months or less from the date of acquisilion or opening of the deposit or similar account.
Creditors and provlslons
Creditors and provisions are recognised where Ihe charity has a present obligation resulting from a past event thal will
probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or
estimaied reliably. Creditors and provisions are nornially recognised al their settlement amount after allowing for any
trade discounts due.
VAT
The charity is registered for VAT but is unable lo reclaim all of the input tax incurred. Irrecov¢rable VAT is charged
to the expenditure heading for which il was incurred.
Operatlng leases
Rental charge5 are charged on a slraight line basis over the lif¢ of the lease.
12

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR EIYDED 31 DECEMBER 2023
ACCOUNTINC POLICIES (Continued)
Funds
The different funds are defined a% follows:
Reslricled fijnds are those lund4 which are to be used in accordance wilh Specific instructions imposed by the donor
or Irusl deed.
Unrestricted funds are Iho%e lund% available lo the charity for its general purpo%e¥. They include funds designated
(Nole 7) by the member% of Ilie Council for particular purpo¥es where their use remains at the discrelion of Ihe
members of the Council. Arnounls mily be sei aside each year on Ihe basi5 of eKpecled requirement% for major repairs
to premise5, replacement of major equipment and pianos lor use by resident studen15. A transfer is made from General
to De¥ignated Funds and the co¥t ot" Ihe repairs or replacements are charged ag7ainst the fund a% Ihey ari%e. Amounls
may al80 be sei aside for the provixion of bursarie4 lo studenis who through hardship. would otherwise be unable lo
afyord accommodation at the Hou¥e. Transfers are made into this fund as required.
li is ihe policy of the mcmber5 of the Council lo relain in unrestricted funds, amount¥ which in their judgement, can
help lo miiigate the short lerni effects of Income volatilily and relain funds to generate sufficient income lo meel
curreni and fviure operational activities of the chariiy.
Income
This conipri%L'% fees receivable from the various House activities &iid investment income. All income 14 reCogni￿d
once the cliarily ha% enliileinenl lo the inconie, il is probable Iliul Ilic income will be received and the amount of
income CAI) be measurL.d rcliably.
Income from cliAriiablL' iiLliviliL¥ 1% fL'L()b7lli%Ld a% eamed a4 IhL' rL.liilLd %L'fviLe4 are provided.
Donations are reco¥ni.4ed wl)en 11)L' Ll)ariiy bccn i)oliliL'd in wrilingi ot boih the amount and 8ettlement date. In the
event that a donation i¥ %ubjecl 10 ¥ondiiion.4 11)ai requirL a level of pertorniance before the charily 1.4 eniiiled 10 Ihe
funds. the income is defe￿ed and not reLognised ui)lil Iliose conditions are fully m¢1, or the fulfilmenl of those
conditions is wholly within the control of (he charity and it is probable that those conditions will be fulfilled in the
reporting period.
Interest on funds held on depot>it is include when receivable and the amounts can be measured reliably by ihe charity;
this is norn]ally upon notification of the interest paid or payable by the bank.
Expendlture
Liabililies are recogni.ged as expenditure as soon as there is legal or constructive obligation commiiiing Ihe charity to
Ihat expendiiure. it 18 probable Ihai 4ettlement will be required. and the amount of obligaiion can be mea%ured reliably.
Expenditure is recognised on an accruals basis as a liability is incurred. inclusive of V AT. which cannoi be recovered.
Charitable activitie¥ comprise niainly of the provision of accommodation including welfare and catering. premises
and adminisiraiive costs.
Support costs have been alloLaied lo chariiable aclivities. Governance costs comprise Ihose cosis relaied to
organisaiion and compliance with conslitulional and siatulory requirements. Costs include direct c0515 of exiernal
audit. legal fee5 and other profe4%ional advice.
Financial instruments
The charity only has financial assels and financial liabilities of a kind Ihal qualify as basic financial inslrumenls. Basic
financial instrumen15 are initially recognised at transaction value and subsequenily measured at iheir settlement value.
Pensions
The charity operates a defined conlribulion pension plan. Conlribulions are charged lo the Sialement of Financial
Activities as they beconie payable. The charity has no liabilily beyond making its contributions and paying across the
deductions for the eniployee s conlribulions.
13

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
NOTES TO FINANCIAL STATEMENTS (Continued)
YEAR ENDED 31 DECEMBER 2023
ANALYSIS OF EXPENDITURE
Other
Costs
Total
2023
Tolal
2022
StAff Costs
Depreciation
Charitable Aclivity:
Provision of accommodation:
Welfare and catering
Premis¢s costs
Support costs
Governance costs
228.266
68,480
159,786
458,563
256,572
87,584
29,784
11,679
6.160
698.508
331,212
247,370
29.784
518.496
316.119
219.779
30,755
456,532
832,503
17,839
1,306,874
1.085.149
2022 COMPARATIVE
Other
Costs
Total
2022
Staff Costs
D¢preclatlon
Charliable Acilvlty:
Provision of accommodation.,
Welfare and catering
Premises costs
Support costs
Governance cosi¥
202,338
60,701
141,637
316.158
243,231
78.142
30,755
518.496
316.119
219.779
30.755
12,187
404,676
668.286
12,187
1,085,149
2023
2022
Governance costs include..
Audit fees
Other fees payable to the auditors
15,000
1,853
13.800
3,938
STAFF AND TRUSTEE REMUNERATION AND BENEFITS
2023
2022
Staff costs in¢lude:
Wages and salaries
National Insurance
Pension
Agency staff
320,911
28.962
7,839
98,820
323,939
24,899
6,839
48,999
456,532
404.676
The average number of employees during the year was
14
14
No employee earned over £60.000 in the year (2022 - none).
Total employee benefils paid to key management personnel post holder5 amounted to £140.574 (?0?? . £125,783).
In ihe prior year, the Treasurer Robin Bell received an honorarium of £6.000 for providing professional financial support
and advisory services, prior to becoming a Ttuslee of the charity in March 2022. No other Members of Council received any
emolumenis nor were reimbursed expenses during the year (2022.. Nil).
14

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
NOTES TO FINANCIAL STATEMENTS (Conlinued)
YEAR ENDED 31 DECEMBER 2023
FIXED ASSETS
Improvements to
Long Leasehold
Property
Furniture
And
Flttlngs
PIAn¢
And
Equlpment
Total
Cost
Ai l January 2023
Additions
Disposals
22.355
26,898
35,037
(8,816)
218.694
267.947
35,037
(8.816)
Ai 31 December 2023
22.355
53,119
218.694
294,168
DepreclY4tlon
Ai l January 2023
Charge for the year
Disposals
22,354
26.897
11.679
(8.8161
169,413
6,160
218,664
17,839
(8.816)
At 31 December 2023
22.354
29,760
175,573
227,687
Net Book Value
At 31 December 2023
23.359
43.121
66.481
Al 31 Decenibcr ?0??
49.281
49.283
DEBTOR.Si
2023
202Z
'I'radL dLbtor
VA I rcLoverabl¢
Prepaymcnls
17,166
58.372
4.620
5,741
6,781
1,960
80,158
14,482
OTHER CREDITORS
2023
2022
Trade creditors
AccNals
Other (axes and social security
48,186
45.289
77.544
24,391
7,086
93,475
109,021
15

obEEN ALEXANDRAIS HOUSE ASSOCIATION
NOTES TO FINANCIAL ST ATEMENTS (Contlnued)
YEAR ENDED 31 DECEMBER 2023
DESIGNATED FUNDS
Balance I
January
2023
Transfer
froml(to)
General Fund
Balance 31
December
2023
Income
Expenditure
Building Capital Fund
Bursary Fund
381.312
20,000
18,688
400,000
20,000
401,312
18.688
420,000
2022 COMPARATIVE
Balan¢e I
January
2022
Transfer
froml(to)
General Fund
Balanee 31
December
2022
Income
Expendlture
Building Capiial Fund
Bursary Fund
447,787
20.000
(66,475)
381,312
20.000
467,787
(66,475)
401,312
The purpose of Ihe Building Capiial Fund (BCF) is 10 build up a reserve for the ultimate replacemeni of major plani and
equipment (lift, boilers, and roof coverings). Ei was established during 2013. Expenditure on major repair works in the prior
year have been charged lo this fund.
The Bursary Fund (BF) is for residents who are in financial difficulty and need assistance wilh accommodation fees. It was
established in 2019,
ANALYSIS OF NET ASSETS BETWEEN FUNDS
General
Funds
De$lgnat¢d
Funds
Total
Funds
2023
Fixed assets
Current assets
Current liabilities
66,481
975,146
(537,821)
66.481
,395,146
(537,821)
420,000
503.806
420.000
923.806
2022 COMPARATIVES
Genergl
Funds
Designated
Fund5
Total
Funds
Fixed assets
Cu￿ent assets
Current liabilities
49,283
1,062,426
(562,524)
49,283
1,463,738
(562.524)
401,312
549,185
401.312
950.497
16

QUEEN ALEXANDRA'S HOUSE ASSOCIATION
TrIOTES TO FINANCIAL STATE%1EIYTS (Continued)
YEAR ENDED 31 DECEMBER 2023
OPERATING LEASES
Ai ihe year end, the chariiy had future minimum lease payments under
non-cancellable operaiing lea4e% a¥ follows..
2023
2022
Within one year
Within two to five years
17,157
30.341
17,878
47,498
47.498
65.376
10. RELATED PARTIES
'I'liere were no related party transactions in either the current or prior year.
"I'AXATION
'I'lIL' Association is a registered charity and no laxalion is payable on its income.
Iz.
COMPARATIVE STATFMENT OF FINANCIAL ACTIVITIES (2022)
Unrestrlcted Funds
(ieiitrml
Deslgnated
Total
2022
INCO.ME FROM:
Charitable aciivities - accommodaiion
I.OR5,4R4
1,085,484
Donations and legacies
15,593
15.593
Investment income - bank deposit interest
3,566
3.566
other income
33,875
33.875
Total
1.138,518
1,138,518
EXPENDITURE ON:
Charitable aciivity - provision of accommodation
1,018,674
66,475
1.085,149
NET MOVEMENT IN FUNDS
l 19,844
(66,475)
53,369
RECONCILIA TION OF FUIVDS..
TOTAL FUNDS BROUGHT FORWARD
429,341
467.787
897,128
TOTAL FUIYDS CARRtED FORWARD
549,185
401,312
950,497
17