**Charity Registration No. 518471** 

**Company Registration No. 02022869 (England and Wales)** 

## **THE KING OF KINGS SCHOOL** 

# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 JULY 2020** 



## **THE KING OF KINGS SCHOOL** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

**Governors** Dr B Oyebande Mrs E B Lewis Dr P Lewis Mr N Steele **Secretary** Mr M Golamhossen **Charity number** 518471 **Company number** 02022869 **Registered office** 142 Dantzic Street Manchester M4 4DN **Independent examiner** Tracey Connor Bsc FCA Chadwick & Company (Manchester) Limited Chartered Accountants Statutory Auditors Capital House 272 Manchester Road Droylsden Manchester M43 6PW 



## **THE KING OF KINGS SCHOOL** 

## **CONTENTS** 

||**Page**|
|---|---|
|Governor's report|1 - 6|
|Statement of Governor's responsibilities|7|
|Independent examiner's report|8|
|Statement of financial activities|9|
|Balance sheet|10|
|Notes to the financial statements|11 - 16|





## **THE KING OF KINGS SCHOOL** 

## **GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

The Governors present their annual report and accounts for the year ended 31 st July 2020.  The Governors constitute directors of the company for Companies Act purposes and the Trustees for Charity purposes.  The company is registered with the Charity Commissioners under Charity Number 518471. 

## **Principal Activity** 

The King of Kings School is a company limited by guarantee, the principal activity of which is the education of children in the Manchester area.  In setting our objectives and planning our activities our Governors have given careful consideration to the Charity Commission’s general guidance on public benefit. 

## **Aims, works and Activities** 

## _Objects_ 

The objects of the school are the institution and running of a Christian school designed to give a sound Christian and moral basis to all pupils.  The school wants to raise up Christian leaders with service of others in the centre of their hearts and a single, biblical worldview.  We want to preserve and extend Christian learning. It is our aim as a school to be outward looking and service oriented, and to contribute to the wider needs of Christian Education in this country and beyond. 

## _History_ 

The King of Kings School was established in 1986 as an independent school providing a curriculum with a specifically bible-centred worldview.  Since September 1991 it has occupied a significant part of the former Charter Street Ragged School in Dantzic Street, Manchester, close to Victoria station. 

## _Aims_ 

The school aims to provide a thorough education to children aged 3-18, equipping them with the knowledge and skills to enable them to flourish as members of society and at the same time with a secure Christian faith expressed by serving others with generous, unselfish and confident hearts.  Each child is encouraged to work hard in a system which balances academic work with other enriching experiences, including music, art, sport and practical skills. 

## _Curriculum_ 

The difference between this school and other schools with a Christian ethos is the curriculum.  The school uses A.C.E., an individualised learning programme which has over 1 million users worldwide.  This forms the spine of the curriculum onto which the school builds, adding group work, specialist instruction, individual teaching and project work.  The A.C.E. methodology is designed to equip students with self-study skills and to master their learning.  Teaching is consistent with the biblical instruction most of the children receive in the church and home, and nurtures children in the Christian faith. 

## _Graduates_ 

The school’s first senior students prepared for and took GCSEs before going elsewhere to study for A Levels. Since 1992, we have been able to take students through from nursery to 18 using the A.C.E. curriculum, initially with the National Christian Schools Certificate (the NCSC) and then its successor, the International Certificate of Christian Education (the ICCE), qualifications designed to validate the work of students using this programme and which enable them to gain entrance to university, college, or directly to employment. 

Our first NCSC graduate went to Durham University in 1996 and gained a BA in Linguistics before earning an MPhil from York University.  She was awarded a scholarship to the University of Pennsylvania, an Ivy League university, and her studies culminated in a PhD from York in 2004. 

Subsequent NCSC graduates have gained places at sixth form and further education colleges or stayed on the programme to complete their studies.  Every school leaver with the NCSC Level III or the ICCE Advanced Certificate has gained a place at a Russell Group University, including Leicester (Maths), Kent (Music Production), Liverpool (Physiotherapy, English), Durham (Linguistics, Music), York (PPE), Sheffield (Japanese) and Manchester (Japanese).  Recent students have studied for a Masters in Medical Statistics, Business Studies, Law, and Security and Development (Distinction). 

- 1 - 



## **THE KING OF KINGS SCHOOL** 

## **GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## School numbers 

We have 15 students at the moment. 

Two students are graduating with General Certificates.   One individual is going on to do Level 3 Music Technology at Manchester College and the other is going on to do science A Levels at Urmston Grammar. They will both be sorely missed. and both are outstanding examples of students who love God and set a high moral tone. 

Six students want to join us in September and another 4 are in earlier stages of the process. 

## _Covid Impact_ 

Although Covid restrictions impacted the school, because of our methodology we were able to deliver all the individualised work, which is at least 60% of the curriculum, as usual, and almost all the taught lessons. 

Although one or two children had difficulty working at home, most children completed their work and some did far more than was required. 

The staff were amazing: with two days’ notice they organised the work the children would need and sent them home with goal cards, materials, workbooks, exercise books and textbooks and everything else they would need, on Friday 20 th March. 

From Monday morning, 23 rd March, with the close support of the parents, school was thus able to continue virtually as we ran the school by zoom, email, WhatsApp and phone calls. 

The school ran a simplified timetable in which most lessons in a subject took place at the same time. 

The children were expected to complete the usual amount of individualised work.  Most children completed the full amount of individualised work between 20 March 2020 and the end of the Summer Term, with several doing more. They were also expected to hand in the homework set in taught lessons. A couple of children did not manage all of this and one did not manage any. These children have since submitted the work they owed. 

## _Ofsted Report_ 

The School was not inspected by Ofsted in the year, but were assessed as Good for each judgment and Good overall in January 2019. 

## _The role of assessment_ 

Pre-School children are assessed on entry and three times in each of the first two years.  Their programme is designed to help them prepare to read and develop academically, morally, socially, emotionally, practically and spiritually. 

When they test ‘Ready to Read’, they progress to a ‘Learning to Read’ class where they are taught, amongst many other things, to read with phonics.  Once these skills have been mastered, they spend a further 6 months on consolidation work and then move into the Infants. 

Students joining the school at Year 1 or above are assessed on entry to see what work and skill they have or have not mastered previously.  Those who are not established readers go into a reading improvement programme alongside their daily work.  Those whose first language is not English go into a Speaking English programme when needed.  Children in Years 1 and 2 are taught to score their own work and to identify where they need to ask for help. 

The work is individualised and students who can work quickly are encouraged to do so.  Once they begin to work above the level of work for their Year, they move onto the expanded and enriched curriculum.  Those who struggle academically can take the time they need to master concepts.  Every care is taken to develop the children’s character, moral understanding and quality of relationships.  They are introduced to the basic ideas of Christianity and to its foundational stories and principles. 

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## **THE KING OF KINGS SCHOOL** 

## **GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

After completing the first two levels of the programme, they progress to the Juniors.  From YN to Y2, the academic emphasis has been on vocabulary development, reading with understanding, learning how to express themselves orally and in writing, and in developing good basic mathematical skills.  In the Juniors, Y3-Y6, while all those aspects continue to be developed, the emphasis changes to reading for pleasure, developing understanding and good general know 

At the age of 11 some gain places at local grammar and independent schools.  Those who stay with us continue into the Senior School.  Students are also accepted into the Senior School from other schools in Y7 and Y8.  Students may only be accepted in Y9 or above if they are have already been working on the A.C.E. curriculum, or if it is clearly understood and accepted that all gaps have to be covered first and that it will then take 3 years to complete the General Certificate (CIE O Level standard).  Late entrants are extremely likely to complete the General Certificate later than their friends complete their GCSEs. 

In the Senior School, individualisation, mastery learning and Christian curriculum continue to underpin the work.  The focus changes again in the Lower Seniors to creating a structure of knowledge and understanding which can be applied and transferred, and in the Upper Seniors to analysing, synthesising and developing service and wisdom.  They are prepared for the next steps in life, whether that is work or study. 

## _Student Convention_ 

From the age of 10, students spend part of their time preparing for the annual European Student Convention (ESC) or its Junior version (JESC).  They compete with several hundred students from other schools and home schools using A.C.E.  ESC has for several years taken place at Millfield School in Somerset.  Our students have won medals in a great range of entries, including art, clay, needlework, essay and poetry writing, bible memory, singing, instrumental, poetry recitation, one-act plays, five-a-side football, athletics, badminton, table tennis and many other events. 

Those who do well at ESC qualify for the International Student Convention in America (ISC).  Here they compete for the awards among thousands of students from all around the world.  All senior students attended ESC in 2018, and most of Y5 and 6 students attended JESC.  No-one was able to attend ISC, although all the Seniors had qualified to do so.  Two of our teachers are the Chief Adjudicators for the Academics section of the competition. 

We have previously won many medals at ISC, including first place in Pace Bowl, a general knowledge quiz. Some of our students have had command performances at ISC in music and poetry, that is, they were chosen to perform in front of the whole Convention. 

## _ICCE_ 

Once students complete Level 7 of the A.C.E. curriculum, usually when they are 14, they enrol for the General Certificate of the ICCE.  This Certificate takes up to 3 years to complete and in 2011 UKNARIC benchmarked it as comparable to Cambridge International Examinations (CIE) O Level (UKNARIC Report 2012).  It is generally accepted as comparable to 9 GCSEs and the DfE has accepted ICCE General Certificate Maths and English as equivalent to GCSEs for funding purposes. 

Students may then go on to college to study A Levels but usually stay to study for the Intermediate and Advanced Certificate.  In 2011 UKNARIC benchmarked the ICCE Advanced Certificate as comparable to CIE A Level (UKNARIC Report 2012). 

Students with Special Educational Needs or Disability (SEND) can work for the Basic Certificate if they are unable to complete the Foundation Certificate (Level 8). 

Students who start the programme late or need to work slowly can study for the entry level qualification, the ICCE Foundation Certificate. 

Students usually aim for the General Certificate at 16, end Y11, but may take longer.  We currently have students working for this certificate and the Intermediate Certificate. 

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## **THE KING OF KINGS SCHOOL** 

## **GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

Students who are able to complete large quantities of work have the opportunity to enhance and enrich their certificate work with all kinds of extra credits.  We have also had students who completed their NCSC Level III Certificate with an overall Grade A who went on to gain the Honours Certificate with more than 40 credits instead of the required 30. 

Students are currently working on this qualification in the Far East and Africa as well as in Europe. 

## _The ‘End Product’_ 

Most of our students are professing and developing Christians.  It is our experience that those who go all the way through are creative, original, amusing, well-educated and with a single biblical worldview.  The school motto is ‘Fit for Service’ (from Ephesians 4:11), and there is a consequent emphasis on relationships, character development and service.  Older students are encouraged to earn service credits, usually serving within the school.  They also have the opportunity to serve abroad, helping to set up and run schools in developing countries or going on short mission trips. 

## _CEE Assessment_ 

There was a CEE Assessment in December 2019 with the school achieving 100%.  The school has Quality Status and was assessed as suitable to offer the ICCE 

## _Staff and Parental Support_ 

The School has a Parent Teacher Fellowship which continues to meet at least once a term, during the pandemic this has been via video. 

The School has parents and friends who have been actively supporting the School in many ways, attending productions, giving, praying and providing encouragement and practical help. 

The teachers see their work as part of the ministry of the wider church and they work for low salaries or on a voluntary basis.  This, together with a low rent, enables us to offer a very high standard of education. 

## _Premises_ 

Charter Street Mission, the Landlords, want the school to leave or to pay increased rent and service charges. However the Landlords and Tenants Act provides some protection and the school continues to occupy these premises.  However the Governors continue to actively seek alternative suitable premises.  They are also seeking legal advice in disputing the level of rent and service charge the landlord’s are proposing. 

## **Financial review** 

The financial statements have been prepared in accordance with the Companies’ Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of  Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011 and applicable regulations. 

The main income arises from fees charged for education and gifts to support the activities of the school.  The most significant expenditure relates to the salaries of teachers.   The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements. 

The deficit for the year of £4,637 will be added to the reserves brought forward.  At the year end there is a surplus of £567 in reserves.  The charity’s policy towards free reserves is that these should be sufficient to cover one month of trading costs. 

The Governors are aware that with reduced numbers currently attending the school, there may be a point where free reserves are fully used. If that were to happen, Mr Lewis has given an undertaking that he will provide additional funding. The Governors have taken steps to increase numbers . 

- 4 - 



## **THE KING OF KINGS SCHOOL** 

## **GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **MANAGEMENT** 

The day to day management of the school is under the responsibility of the headmistress Mrs E B Lewis . 

## **BANKERS** 

The bankers of the school are The Royal Bank of Scotland plc, Sandbach, Cheshire. 

## **DIVIDEND** 

The payment of a dividend or any other distribution to members is not permitted under the terms of the Company's Memorandum of Association. 

## **Structure, governance and management** 

The Governors during this accounting period and to the date of this report are as follows: 

Dr Philip S Lewis (Chair) Mrs E Brenda Lewis (Head) 

Dr Bamidele Oyebande (Safeguarding and Parent Governor) 

Mr Nigel Steele (Independent Governor; Health & Safety) 

Mrs B Lewis and Mr N Steele resign by rotation and both offer themselves for re-election at the forthcoming Annual General Meeting.  No Governor was in receipt of remuneration or private benefits from the company during the period covered by these accounts.  No Governor receives indemnity insurance for their service as director or trustee. 

Two employees are related parties to two of the trustees.  Their remuneration is fixed on similar terms to other employees and amounted to £34,760 (2019 £38,349).   The level of remuneration has been approved by the independent trustees. 

Mrs Lewis is an unpaid, non-executive director of CEE which is the sole supplier of the A.C.E. curriculum to Christian schools in the United Kingdom.  CEE has supplied the school throughout its existence and Mrs Lewis was only appointed as a CEE director in 2009.  In addition, purchases are made on normal commercial terms which are available to all schools using the curriculum. 

In 2018 Mrs Lewis became an unpaid director of ICCE Limited. 

## **Risks** 

The risks that the school faces include having insufficient school numbers with parents who can pay the fees and insufficient donations to meet the school’s expenditure. 

The qualification the school uses, while validated by UKNARIC’s 2012 Report, is not accredited. 

In addition, the school bears the responsibility for looking after the children under its care. 

The Governors have made an assessment of the major risks facing the school and are satisfied that there are policies in place to minimise these risks. 

- 5 - 



## **THE KING OF KINGS SCHOOL** 

**GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **Guarantors** 

Details of guarantors during the year of the accounts and to the date of this report are as follows: 

Dr P S Lewis Mrs E B Lewis Dr B Oyebande Mr N Steele 

Under the terms of the Company’s Memorandum of Association, the liability of each member is limited to £1.00. 

The Governors present their annual report and accounts for the year ended 31st July, 2020.  The Governors constitute directors of the company for Companies Act purposes and the Trustees for Charity purposes.  The company is registered with the Charity Commissioners under Charity Number 518471. 

By order of the board 

**Dr B Oyebande** Governor Dated: 12 May 2021 

- 6 - 



## **THE KING OF KINGS SCHOOL** 

## **STATEMENT OF GOVERNOR'S RESPONSIBILITIES** 

## _**FOR THE YEAR ENDED 31 JULY 2020**_ 

The governors, who are also the directors of The King of Kings School for the purpose of company law,  are responsible for preparing the Governor's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company Law requires the governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. 

In preparing these financial statements, the governors are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent;  and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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## **THE KING OF KINGS SCHOOL** 

## **INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF THE KING OF KINGS SCHOOL** 

I report to the governors on my examination of the financial statements of The King of Kings School (the charity) for the year ended 31 July 2020. 

This report is made solely to the charity's governors, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's governors those matters I am required to state to them in this independent accountants' report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's governors as a body, for my reporting work, for this report, or for the opinions I have formed. 

## **Responsibilities and basis of report** 

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, 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 you as 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. 

## **Independent examiner's statement** 

- 1 which gives me reasonable cause to believe that, in any material respect, the requirements: 

   - to keep accounting records in accordance with section 386 of the Companies Act 2006; and 

   - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statements of Recommended Practice: Accounting and Reporting by Charities 

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. 

Tracey Connor BSc FCA Chadwick & Company (Manchester) Limited Chartered Accountants Statutory Auditors Capital House 272 Manchester Road Droylsden Manchester M43 6PW 

Dated: 13 May 2021 

- 8 - 



## **THE KING OF KINGS SCHOOL** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

|||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2020**|**2019**|
||**Notes**|<br>**£**|**£**|
|**Income from:**||||
|Donations and legacies|**2**|32,347|46,351|
|Charitable activities|**3**|39,284|35,614|
|Investments|**4**|3|1|
|**Total income**||71,634|81,966|
|**Expenditure on:**||||
|Charitable activities|**5**|76,271|79,882|
|**Net (expenditure)/income for the year/**||||
|**Net movement in funds**||(4,637)|2,084|
|Fund balances at 1 August 2019||5,204|3,120|
|**Fund balances at 31 July 2020**||567|5,204|



The statement of financial activities includes all gains and losses recognised in the year. 

All income and expenditure derive from continuing activities. 

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 

There are no restricted funds this year. 

- 9 - 



## **THE KING OF KINGS SCHOOL** 

## **BALANCE SHEET** 

## _**AS AT 31 JULY 2020**_ 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**8**<br>**Current assets**<br>Debtors<br>**9**<br>Cash at bank and in hand<br>**Creditors: amounts falling due within**<br>**one year**<br>**10**<br>Net current (liabilities)/assets<br>**Total assets less current liabilities**<br>**Income funds**<br>Unrestricted funds|**2020**<br>**£**<br>2,045<br>2,116<br>4,161<br>(4,368)|**£**<br>774<br>(207)<br>567<br>567<br>567|**2019**<br>**£**<br>10,371<br>2,223<br>12,594<br>(8,586)|**£**<br>1,196<br>4,008<br>5,204<br>5,204<br>5,204|
|---|---|---|---|---|



The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2020. 

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. 

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The financial statements were approved by the Governors on 12 May 2021 

Dr B Oyebande **Trustee** 

## **Company Registration No. 02022869** 

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## **THE KING OF KINGS SCHOOL** 

## **NOTES TO THE  FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **1 Accounting policies** 

## **Charity information** 

The King of Kings School is a private company limited by guarantee incorporated in England and Wales. The registered office is 142 Dantzic Street, Manchester, M4 4DN. 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with the charity's [governing document],  the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 

The financial statements are prepared in sterling , which is the functional currency of the charity.  Monetary a mounts  in these financial statements are  rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

At the time of approving the financial statements, the governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the governors  continue  to adopt the going concern basis of accounting in preparing the financial statements. 

At the end March 2020, Covid-19 was designated a pandemic by the World Health Organisation (WHO). The  governor's continue to review the impact on the business, ensuring provisions are put in place to mitigate any risk to the company’s ability to trade as a going concern.  At the date of signing the financial statements, in the opinion of the  governor's , Covid-19 will not impact on the company’s ability to trade as a going concern. Consequently, the company continues to adopt the going concern basis in preparing the financial statements. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the governors in furtherance of their charitable objectives. No funds have been restricted by a donor or designated for a particular purpose by the governors. 

## **1.4 Income** 

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 

- 11 - 



## **THE KING OF KINGS SCHOOL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **1 Accounting policies** 

**(Continued)** 

## **1.5 Expenditure** 

Charitable activities - This is expenditure incurred in supporting the charitable activities of the school. 

Governance costs - These represent direct expenditure on the governance of the school. The management is carried out without charge by volunteers. The intangible cost is not included in the Statement of Financial Activities since there is no measurement of cost for their services. 

## **1.6 Tangible fixed assets** 

Tangible fixed assets  are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 

Tenants improvements 20% - 33.33% straight line Fixtures and fittings 20% straight line 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in  net income/(expenditure) for the year. 

## **1.7 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.8 Employee benefits** 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **1.9 Pension** 

The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. No liability arises at the year end. 

## **2 Donations and legacies** 

||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|<br>**funds**|
||**2020**|<br>**2019**|
||**£**|<br>**£**|
|Donations and gifts|32,347|<br>46,351|



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## **THE KING OF KINGS SCHOOL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **3 Charitable activities** 

|School fees<br>Donations (other)|**Total**<br>**2020**<br>**£**<br>36,477<br>2,807<br>39,284|**Total**<br>**2019**<br>**£**<br>33,781<br>1,833<br>35,614|
|---|---|---|



## **4 Investments** 

||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|<br>**funds**|
||**2020**|<br>**2019**|
||**£**|<br>**£**|
|Interest receivable|3|<br>1|



- 13 - 



## **THE KING OF KINGS SCHOOL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **5 Charitable activities** 

|Staff costs<br>Workbooks<br>Books and consumables<br>General expenses<br>Telephone & IT<br>Rent and rates<br>Insurance<br>Trustee expenses<br>Maintenance<br>School trips/conventions<br>Bad debt provision<br>Training<br>Ofsted<br>Share of support costs (see note 6)<br>Share of governance costs (see note 6)|**Total**<br>**2020**<br>**£**<br>54,122<br>6,008<br>3,722<br>1,212<br>453<br>6,043<br>699<br>-<br>939<br>814<br>-<br>440<br>317<br>74,769<br>422<br>1,080<br>76,271|**Total**<br>**2019**<br>**£**<br>54,876<br>2,916<br>2,224<br>869<br>402<br>10,794<br>708<br>290<br>625<br>1,746<br>1,640<br>1,187<br>357<br>78,634<br>648<br>600<br>79,882|
|---|---|---|



## **6 Support costs** 

|**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>Depreciation<br>422<br>-<br>Accountancy<br>-<br>1,080<br>422<br>1,080<br>Analysed between<br>Charitable activities<br>422<br>1,080|**2020**<br>**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>**£**<br>422<br>648<br>-<br>1,080<br>-<br>600<br>1,502<br>648<br>600<br>1,502<br>648<br>600|**2019**<br>**£**<br>648<br>600<br>1,248<br>1,248|
|---|---|---|



Governance costs includes payments to the auditors of £ 1,080 (2019- £ 600 ) for audit fees. 

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## **THE KING OF KINGS SCHOOL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **7 Employees** 

The average monthly number of employees during the year was: 

||||**2020**|**2019**|
|---|---|---|---|---|
||||**Number**|**Number**|
||||4|4|
|**8**|**Tangible fixed assets**||||
|||**Tenants**|**Fixtures and**|**Total**|
|||**improvements**|**fittings**||
|||**£**|**£**|**£**|
||**Cost**||||
||At 1 August 2019|10,685|14,226|24,911|
||At 31 July 2020|10,685|14,226|24,911|
||**Depreciation and impairment**||||
||At 1 August 2019|10,685|13,030|23,715|
||Depreciation charged in the year|-|422|422|
||At 31 July 2020|10,685|13,452|24,137|
||**Carrying amount**||||
||At 31 July 2020|-|774|774|
||At 31 July 2019|-|1,196|1,196|
|**9**|**Debtors**||||
||||**2020**|**2019**|
||**Amounts falling due within one year:**||**£**|**£**|
||Trade debtors||2,007|6,550|
||Other debtors||38|3,756|
||Prepayments and accrued income||-|65|
||||2,045|10,371|



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## **THE KING OF KINGS SCHOOL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2020**_ 

## **10 Creditors: amounts falling due within one year** 

|Other taxation and social security<br>Other creditors<br>Accruals and deferred income|**2020**<br>**£**<br>461<br>2,796<br>1,111<br>4,368|**2019**<br>**£**<br>487<br>7,499<br>600<br>8,586|
|---|---|---|



## **11 Related party transactions** 

Two employees are related parties to two of the trustees. Their remuneration is fixed on similar terms to other employees and amounted to £34,760 (2019 £38,349). The level of remuneration has been approved by the independent trustees. 

Mrs. Lewis is an unpaid, non-executive director of CEE which is the sole supplier of the ACE curriculum to Christian schools in the United Kingdom. CEE has supplied the school throughout its existence and Mrs. Lewis was only appointed as CEE director in 2009.  In addition, purchases are made on normal commercial terms which are available to all school using the curriculum. 

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