CITY OF LONDON SCHOOL WAR MEMORIAL FUND {charity no. 325131} YEAR ENDED 30 APRIL 2025
STATEMENT OF FINANCIAL ACTIVITIES
| 2025 | 2624 | : | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |
| Appeal | General | Total | Appeal | General | Total | |
| incoming resources | ||||||
| Appeal fund donations (including GiftAid) | 5,056 | - | 5,056 | 5,941 | - | 5,941 |
| Donationsand legacies | {1,818) | . | (1,818) | 1,442,000 | - | 1,442,000 |
| Benevolent Fund | - | - | - | 8,205 | - | 8,205 |
| investmentincome | 24,256 | 328 | 24,584 | 13,523 | 367 | 13,890 |
| 27,494 | 328 | 27,822 | 1,469,669 | 367 | 1,470,036 | |
| Resources expended | ||||||
| Payment toCLS charitable truston merger | 1,360,000 | 35,000 | 1,395,000 | |||
| Bursaries | - | - | - | 37,397 | - | 37,397 |
| Grants | - | - | - | - | - | |
| Sundries | - | 6 | 6 | - | 9 | 9 |
| Outgoingresources | 1,360,000 | 35,006 | 1,395,006 | 37,397 | 9 | 37,406 |
| Movementon resources | (1,332,506) | {34,678) | (1,367,184) | 1,432,272 | 358 | 1,432,630 |
| {Losses}/gains on investment assets: | ||||||
| -Unreatised | - | (199) | (199) | - | (135) | (135) |
| Netmovement in funds | (1,332,506) | (34,877) | (1,367,383) | 1,432,272 | 223 | 1,432,495 |
| Balances at 1May | 1,602,057 | 39,365 | 1,641,422 | 169,785 | 39,142 | 208,927 |
| Balancesat30April | 269,551 | 4,488 | 274,039 | 1,602,057 | 39,365 | 1,641,422 |
CITY OF LONDON SCHOOL WAR MEMORIAL FUND (charity no. 325131) BALANCE SHEET AS AT 30 APRIL 2025
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|||||||
|---|---|---|---|---|---|
|2025|2024|
|2|£|£|£|
|Fixed|assets|
|Investments|8,693|8,892|
|Current|assets|
|Debtors|- accrued|income|91|17,091|
|JCC|Charitable|Trust ClO|54,760|54,760|
|JCC|Benevolent|Fund|42,980|42,980|
|Cash|at|bank|204,912|1,555,096|
|302,743|1,669,927|
|Current|liabilities|
|JCC General|Fund|37,397|37,397|
|Accrued|grants|-|7|
|37,397|37,397|
|Net current assets|265,346|1,632,530|
|Total|net|assets|274,039|1,641,422|
|Financed|by:|
|General|fund|4,488|39,365|
|Asquith|Bursary Appeal|fund|269,551|1,602,057|
|274,039|1,641,422|
|Investments|
|Market value|at|1 May|8,892|9,027|
|Decrease|in|unrealised|depreciation|(199)|(135)|
|Market value|at 30|April|8,693|8,892|
|Book cost at|1|May|12,000|12,000|
|Unrealised|depreciation|at 30 April|(3,307)|(3,108)|
|Market value|at 30|April|8,693|8,892|
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CITY OF LONDON SCHOOL WAR MEMORIAL FUND (charity no. 325131) YEAR ENDED 30 APRIL 2025 NOTES TO THE FINANCIAL STATEMENTS
|
1. Accounting policies
(a) The Financial Statements have been prepared under the historical cost convention, as modified by the revaluation of investments.
(b) Interest and dividends are recognised in the period in which they are receivable.
- Investments and short term bank deposits
The Short Term Bank Deposits of the Asquith Bursary Appeal are held ina specific War Memorial Charity Account. The shared deposits of the Benevolent Fund and unrestricted fund of theWar Memorial Fund are held in the name of the Benevolent Fund.
- Taxation
No tax charges arise in the charitable funds.
4, Benevolent Fund and War Memorial Fund
These funds are established respectively under a Declaration of Trust dated 8 December 1943 and two Orders of the Court dated 18 February 1996 and 30 October 1967 and are registered with the Charity Commission.
CITY OF LONDON SCHOOL WAR MEMORIAL FUND (charity no. 325131)
TRUSTEES REPORT FOR THE YEAR ENDED 30 APRIL 2025
Constitution
The activities of the charity are managed and administered by the General Committee of the John Carpenter Club. This committee meets at least 3 times a year and considers the position and the working of this charity.
Objects Theand objects ofthis charity are to provide benefits to the City of London School (The School) for its pupils, former pupils and staff, to provide bursaries, where needed, to new pupils from financially disadvantaged backgrounds, to attend the School.
Funds
In addition to an unrestricted fund, there is a restricted fund that is made up of donations and legacies from former pupils and others towards the provision of school fee bursaries at The Schoo! for the benefit of pupils. This is considered to be extremely important in supporting The School’s strategy of maintaining a broad mix of pupils based on their abilities.
Grants General grants are made largely in support of pupils’ activities at The School, including prizes for performance. Subject to the resources of the restricted fund, Bursary grants are made to pupils in need of financial assistance largely at the recommendation of the Head. These often last for the whole schoo! career of a pupil at The School of up to seven years.
Financial Review
The charity holds a part of its unrestricted funds in investments through the BlackRock Charinco common investment managed fund. All other funds are held as cash at bank. During the year to 30 April 2025, there was a further small fall in the value of the investments. The Bursary Appeal fund income continued to receive regular donations.
During the year to 30 April 2025, the trustees and the General Committee of the John Carpenter Club agreed to merge the charity with the City of London School Charitable Trust which has very similar aims and objects.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CITY OF LONDON SCHOOL WAR MEMORIAL FUND
I report to the charity trustees on the accounts of the charity for the year ended 30th April 2025. which are set out on pages one to three.
Respective responsibilities of Trustees and Examiner
The charity's trustees are responsible for the preparation of the accounts. The Charities Commission granted a dispensation from audit under Regulation 34(3)(a) of the Charitics (Accounts and Reports) Regulations 2008 for the previous year, and instead required an independent examination of the accounts. The charity's gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
IL is my responsibility tu:
a) examine the accounts under section 145 of the Charities Act,
h) follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b)of the Charities Act. and ¢) state whether particular matters have come to my aitention.
Basis ofIndependent Examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts prescnted with those records. It also includes consideration of any unusual items or disclosures in the accounts and secking explanations from the trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view" and the report is limited to those matters set out in the statement below.
a
independent Examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities prepuring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or afler | January 2015.
1 confirm that no other matter has come to my attention giving me cause to believe in any material respect:
1) accounting records were not kept in accordance with section 130 of the Charities Act; or 2) the accounts do not accord with those records: or 3) that accounts do not comply with the applicable accounting requirements of the Charities Act; or 4) to which, in my opinion. ‘attention should be drawn in order to cnable a proper understanding of the accounts to be reached. AR MitcbOll_ Fellow ofthe Institute ofChartered Accountants in England and Wales 16 Polkgrt Heights. Mevagissey. Comwall. P1.26 6TT Date: 03 February 2026
a