KING JAMES'S SCHOOL FOUNDATION ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
KING JAMES'S SCHOOL FOUNDATION Charity name and number King James's School Foundation: registered charily number 505999. Correspondence address clo Clerk to the Trustees, 39, St. Georges Road, Scholes, Holmfirth. HD9 1 UQ. Trustees Janet Cockroft (Chairman) Keith Crawshaw Andrew Haigh Christopher Mann Patrick O'Brian Walter Raleigh John Richard Taylor Cllr Paola Davies Michael Wilson Clerk to the Trustees Antony Haigh Professional advisers Bankers: CAF Bank Ltd., 25, Kings Hill Avenue, Kings Hill, West Malling. Kent. ME19 4JQ Independent Examiner: Louise Savage FCCA, Orchard House, 347c, Wakefield Road, Denby Dale, Huddersfield. HD8 8RT.
Report of the Trustees of the King James's School Foundation for the year ended 31 March 2024 History and Objectives The Charity was established in 1608 and its assets have been subject to various ad- ditions since that time. It is currently governed by a scheme sealed by the Charity Commissioners on 17 September 2001 which details Ihe objects of the Charity as follows:_ 1) to continue to permit the land containing 1.132 hectares or thereabouts, situate at Almondbury in the County of West Yorkshire, together with the buildings thereon, to be appropriated and used for the purposes of the school called King James's School, 2) to provide items, services and facilities for King James's School, or to assist in the provision thereof, as may be agreed with the School Governors, to advance ed- ucation, 3) to promote the education of individual pupils attending the School at the lime of their application for assistance, in such ways as the Trustees think fit, 4) to promote the education of persons who are under age 25 years who are resi- dent in the Ancient Parish of Almondbury, in such charitable ways as the Trustees think fit. Appointment of Trustees Three of the Truslees are nominated by The Old Almondburian's Society, Kirklees Metropolitan Council and the School Governors, one each. Five additional Trustees are co-opted. all serve for fouT year periods. Financial Review During the year a donation of £20,152 (2023: £10,868) was made to King James's School towards the cost of running the mini bus. music lessons and supporting the new rewards system. No forrnal reserves policy exists. Public benefit statement The Trustees have paid due regard to the Charity Commission Public Benefit guid- ance and have complied with s.4 of the Charities Act 2006. Risk Management The major risks to which the Foundation is exposed, as identified by the Trustees, have been reviewed and systems have been established to manage those risks,
Report of the Trustees of the King James's School Foundatlon for the year ended 31 March 2024 (cont.) Statement of trustees. responsibilities The law applicable to charities in England and Wales, The Charities Act 1993 (Ac- counts and Reports) Regulations 2008 and the provisions of the trust scheme re- quires the trustees to prepare financial accounts for each financial year which show a true and fair view of the incorning resources and application of resources during the year and of the charity's state of affairs at the end of the financial year. In prepar- ing those financial accounts, the Trustees are required to'.- 1) select suitable accounting policies and apply them conslstently., 2) make judgements and estimates which are reasonable and prud8nt; 3) state whether applicable accounting slandards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial accounts; and 4) prepare the financial accounts on the going concern basis unless it is inappropri- ate to presume that the charity will continue in operational existence. The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and to en- able them to ensure that the financial accounts comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charily and hence for taking reasonable steps for the prevention and detection of fraud and other irregulari- ties. Signed on behalf of the Trustees by: Janet Cockroft ( Chairman )
Independent Examiner's Report to the Trustees of King James's School Foundation I report on the accounts of the Charity for the year ended 31 March 2024 which are set out on pages 5 to 8. Respectlve responsibilitiies of trustees and examiner The Foundation's Trustees are responsible for the preparation of the aGcounts and they consider that an audit is not required for this year (under section 43 (2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is required. It Is my responsibility to-. 1 } examine the accounts (under section 43 (3)(a) of the 1993 Act),, 2) follow the procedures laid down in the General Directions given by the Charity Commission (under section 43 (7)(b) of the 1993 Act), and 3) state whether particular matters have come to my attention. Basis of Independent Examiner's Report My examination was cariied 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 you concerning any such matters. The pro- cedures undertaken do not provide all the evidence that would be required in an audit and I consequently do not express an audit opinion on the view given by Ihe accounts. Independent Examiner's Report In connection with my examination, no matters have come to my attention: 1) which give me reasonable cause to believe that in any material respect the requirements, a) to keep accounting records in accordance with section 41 of the 1993 Act, and b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met; or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Louise Savage FCCA Orchard House 347c Wakefield Road Huddersfield HD8 8RT
KING JAMES'S SCHOOL FOUNDATION Statement of Financial Activities for the year ended 31 March 2024 2022123 Noles Unrestricted Permanent 2023124 Incom8 Fund Endowment Fund Total Funds Total Funds Incomlng resources Investment incom8 Rent Cricket field InGome 2,571 106,300 2,571 106.300 505 105,286 100 Total Incoming resources 108,871 108,871 105,891 Rèsources expended Activitie5 in furtherance of the charitable objectives Management and administration Cricket field expenditure (20,152) (30,0911 11,3521 (20,152) (13,618) (30,091) (82,423) 11,352) 12,814) Total resources expendod (51,595) 151,595) (98,855) Net movement In funds 57,276 57,276 7,036 Fund balances brought forward al 1 April 2023 274,793 1.674,162 1,948,955 1,941,919 Fund balances carried forward at 31 MarGh 2024 332,069 1,674.162 2,006,231 1.948,955
KING JAMES'S SCHOOL FOUNDATION Balance Sheet as at 31 March 2024 Notes 2024 2023 Fixed assets Property 1,860,237 1,860,237 1,860,237 1 ,860,237 Current assets Bank account - Current Bank account - Deposit Insurance prepayment 10 147,136 1.518 10 89,917 1,461 148,664 91,388 Current Ilabllltles Amounts falling due within one year (2,670) (2,670) Net current assets 145,994 88,718 Total assets 2,006,231 1,948,955 Represented by:" Capital Funds Permanent endowment fund Unrestricted income fund 1,674,162 332,069 1,674,162 274,793 Total Funds 2,006,231 1,948,955 The financial accounts on pages 5 to 8 were approved by the Trustees on and signed on their behalf by. Janet Cockroft ( Chairman }
KING JAMES'S SCHOOL FOUNDATION Notes to the accounts for the year ended 31 March 2024 1) Accounting policles and practice a)The financial accounts have been prepared under the historical cost convention and on an accruals basis. They have been prepared in accordance with the State- ment of Recognised Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland (FRS 102) issued on 16 July and with the Charities Act 2011. b)The endowment of the charity is a permanent endowment to be retained as in- vestments to create incom6. The investments rnay be varied as desired and any re- alised gains or losses are adjusted on the funds in proportion to the balances at the beginning of the year. 2) Taxation The charity is a registered charity and accordingly is exempt from taxation on its in- come and gains where they are applied for charitable purposes. 2024 2023 3) Investment Income Bank Interest 2,571 505 2,571 505 4) Activitles In furtherance of the charitable objectlves The total amount of grants paid {analysed between institutional grants and grants to individuals) was as follows:_ Institutions Individuals 20,152 13,118 500 20,152 13,618
KING JAMES'S SCHOOL FOUNDATION Notes to the accounts for the year ended 31 March 2024 2024 2023 S) Management and administration Property management Property repairs and professional fees Insurance Clerk's fee other administration costs 6,776 14,464 2,980 4,000 1,873 7,165 66,665 2,708 4,000 1,885 30,091 82,423 6) Property The Foundation owns various lenanted properties in Almondbury and these are shown at historical cost. The market value of these interests is believed to be in excess of £2,500,000. 7) Current Ilabllltles Amounts falling due wlthln one year 2024 2023 Independent examinerfs fee Rent 1.920 750 1,920 750 2,670 2,670