## **COVENTRY SCHOOL EDUCATION TRUST**
**A C C O U N T S For the year ended 31 August 2024**
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Annual report for the year ended 31 August 2024**
The Trustees of the Charity who served throughout the year are: Mr. Brendan Connor (Chair) Mr. Michael Butler Mr Christopher Jones Ms Ann Weitzel Dr Caroline Rhodes Mr Jonathan Thompson
Registered Charity number: 504837
Any correspondence should be addressed to the Chair at Coventry School Foundation, Kenilworth Road, Coventry CV3 6PT.
The trust is established to provide financial assistance to pupils of the senior schools of the Coventry School Foundation who are unable to continue their education due to unforseen circumstances.
Over the period of these accounts the portfolio has returned an annual increase in net asset value of more than 12% despite our concerns expressed in our last report. Despite the continuing uncertainties caused by the Ukraine War and the volatility of the Middle East, economic indicators of confidence have been remarkably resilient. We have benefited from this resilience as indicated in our overall performance.
Our concern for the future continues to be the resilience of the world economy in the light of a tariff war, together with the impact of domestic policy on the imposition of VAT on private school fees. Private schools are vulnerable to relatively small reductions in pupils given their high fixed overheads. Any reduction in numbers of pupils brought about by VAT changes, TPS contribution increases and the impact of business rates will present serious challenges to the sector as a whole. We will try to use our limited resources to support individual pupils who are caught in the crossfire of these external shocks, as well as providing wider support to the Coventry School Foundation.
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Brendan Connor (Jun 27, 2025 18:57 GMT+1)
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……………………………………………………
Mr Brendan Connor Chairman
Date:
27/06/25
Page 1
## **COVENTRY SCHOOL EDUCATION TRUST**
**Income and Expenditure Account**
**For the year ended 31 August 2024**
|**Notes**
**Income**
Investments
**Expenses**
Professional charges
Management fees
Bank charges and interest
**Bursaries**
Bablake
King Henry VIII
**Surplus/(deficit) for the year**
**Statement of Net Assets at 31 August 2024**
**Assets**
Investments
3
Bank/stockbroker accounts
4
Accrued income
**Liabilities**
Creditors
**Net Assets**
5
…………………………………………….. Trustee
Date:
Brendan Connor (Jun 27, 2025 18:57 GMT+1)
27/06/25|**£**
45,273|
|---|---|
||-
8,392
1|
||-
-|
||1,406,309
105,540
-|
Page 2
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Notes to the Account for the year ended 31 August 2024**
## 1 **Accounting Policies**
The Annual Report and Accounts have been prepared in accordance with the SORP, on a receipts and payments basis, taking advantage of the exemptions available to small charities because the charity is not a limited company and the gross income during the accounting period does not exceed £250,000 annually.
- a) All voluntary income is accounted for gross when received
- b) Investment income is accounted for when received
- c) All expenditure is accounted for gross and when paid
- d) Bursaries payable are recognised as expenditure when paid
- e) All investments are stated at market value with cost shown for comparison purposes
Page 3
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Notes to the Accounts for the year ended 31 August 2024**
|2
**Movement in Investments - Cost**
Cost of Investments at 1 September 2023
Opening cost adjustment
Proceeds from sale of investments
Gains realised on disposals
Accumulation payment
Cost of disposals
Other
Purchase of investments in year
Cost of Investments at 31 August 2024
3
**Movement in Investments - Valuation**
Value of investments at 1 September 2023
Opening value adjustment
Proceeds from sale of investments in year
Proceeds of disposals
Unrealised gains/(losses)
Other
Purchase of investments in year
Value of investments at 31 August 2024
4
**Bank/Building Society Accounts**
Quilters Capital Account
Quilters Income Account
Quilters Euro Capital Account
Lloyds Corporate Account
TOTAL|**£**
**£**
1,251,919
224
(210,496)
(14,820)
(225,316)
9
231,348
1,258,184
1,249,144
224
(210,496)
(210,496)
136,080
9
231,348
1,406,309
**Balance**
25,639
6,776
9
73,116
105,540
**2024**|**£**
**£**
1,251,919
224
(210,496)
(14,820)
(225,316)
9
231,348
1,258,184
1,249,144
224
(210,496)
(210,496)
136,080
9
231,348
1,406,309
**Balance**
25,639
6,776
9
73,116
105,540
**2024**|
|---|---|---|
||||
|||1,406,309|
|||**Balance**
25,639
6,776
9
73,116|
|||105,540|
Page 4
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Notes to the Accounts for the year ended 31 August 2024 continued**
|5
**Net Assets**
Represented by:
**Named Funds**
A E Higgs
G C Allen
Courtaulds
Clarkson
H L S Taylor
C B Shore
Hobourn
J & H B Jackson
Eaves & Washbourne
F W Shotton
M Hegan
H W Walker
Tuck Shop
P C Phillips
**General Fund**
Balance at 1 September 2023
Realised (losses)/gains on sale of investments
Other movements
Balance at 31 August 2024
**Accumulated Income**
Balance at 1 September 2023
Balance at 31 August 2024
**Revaluation Reserve**
Balance at 1 September 2023
Transfer realised (gains)/losses to general fund
Unrealised gains/(losses) in year
Balance at 31 August 2024
Net assets as at 31 August 2024|£
£
23,700
15,473
14,000
12,270
10,957
10,418
9,376
7,105
5,075
4,508
3,859
3,137
3,000
2,495
125,373
1,582,352
(14,820)
234
1,567,766
(366,295)
36,880
(329,415)
(2,775)
14,820
136,080
148,125
1,511,849|£
£
23,700
15,473
14,000
12,270
10,957
10,418
9,376
7,105
5,075
4,508
3,859
3,137
3,000
2,495
125,373
1,582,352
(14,820)
234
1,567,766
(366,295)
36,880
(329,415)
(2,775)
14,820
136,080
148,125
1,511,849|
|---|---|---|
||||
|||1,511,849|
Page 5
## **Independent Examiner’s Report to the Trustees of COVENTRY SCHOOL EDUCATION TRUST**
I report to the charity trustees on my examintation of the accounts of the charity for the year ended 31 August 2024 which are set out on pages 2 to 5.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed
It is my responsibility to:
- examine the accounts (under section 145 of the 2011 Act);
- follow the procedures laid down in the General Directions given by the Charity Commission (under section
- 145(5)(b) of the 2011 Act); and
- state whether particular matters have come to my attention.
## **Basis of independent 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 presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning 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.
In connection with my examination, no matter has come to my attention:
- 1) Which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept in accordance with section 130 of the 2011 Act: and
- accounts are prepared which agree with the accounting records and to comply with the accounting requirements
- of the 2011 Act; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. AG
Richard Condon FCA CTA Francis Webbs Chartered Accountants Suite 2, Scala Offices 115a Far Gosford Street, Coventry, CV1 5EA
> Date: 28/06/25
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