Charity registration number 518471
Company registration number 02022869 (England and Wales)
THE KING OF KINGS SCHOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
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 Principal Address St Luke's Parish Hall Derby Road Salford M6 5YD Registered office 83 Manchester Road Audenshaw Manchester M34 5PZ Independent examiner Claire L Taylor BA (Hons), FCCA Chadwicks Chartered Accountants Statutory Auditors Capital House 272 Manchester Road Droylsden Manchester M43 6PW
THE KING OF KINGS SCHOOL
CONTENTS
| Page | |
|---|---|
| Governor's report | 1 - 7 |
| Statement of Governor's responsibilities | 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 - 16 |
THE KING OF KINGS SCHOOL
GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2024
The Governors present their annual report and accounts for the year ended 31 July 2024. 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.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply 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).
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).
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THE KING OF KINGS SCHOOL
GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Students
During 2023 to 2024 we had 27 children.
Lower School: 8
Aged 3 to 7 2 in the Pre-school, 1 aged 3, 1 aged 4 4 in Reception
2 infants, 1 in Y1, 1 in Y2
Juniors: 7
Aged 7 to 11 1 in Y3, 2 in Y4, 2 in Y5 (one of whom had SEND), 2 in Y6 (one of whom had SEND).
Seniors: 13
4 students had graduated with the ICCE General Certificate at the end of the previous year; one went to sixth form college, one to train with horses, one continued at school, one is continuing with ICCE but moved to Scotland. A fifth student, an independent learner who swaps work space and some help for assistance with the younger children and art lessons, also gained the General Certificate.
Aged 11 to 17
3 in Y7, 2 in Y8, 1 in Y9, 3 in Y10, 3 in Y11, 1 in Y12. The student in Y12 began to recover after 2-3 years of long covid.
All students in Y9 and above were working on ICCE by the end of the year.
Two students (one in Y11 and one in Y12) were working on the ICCE Intermediate Certificate by the end of the year. The independent learner worked on the Intermediate Certificate throughout the year.
Assessment
All new children had baseline assessments. The four children in YR all passed the Reading Readiness test during the year. Three of the four YR children, and one new Y1 child, started ABCs in October and completed in March, passing the Post Test with 100%. The fourth child in YR began ABCs in the summer term.
Two students gained GCSE in Latin, one at Grade 8 (Y12) and one at Grade 9 (Y11).
Three students gained ICCE General during the course of the year, two with A* (Y11, Y12) and one with A (Y11). One Y11 student left at the end of year to attend 6th form college, two continued on to ICCE Intermediate Certificate.
The third Y11 student stayed on to complete the ICCE General Certificate during the year 2024-25.
Student Progress
The youngest children worked extremely well (YN to Y2) both in the amount of work they did and the grades they achieved.
The juniors achieved a little below average in both number of PACEs and scores.
Several of the seniors achieved below expectations in number of PACEs and scores, and therefore in the level of work they were on, but were improving by the end of the year.
Everything - health, socialising and work level - began to stabilise by the end of this year. The most able, achieved above level, but the next group down did not quite achieve their targets. Students who last year were achieving well below level began to reach their targets.
Reading targets were mostly achieved.
The child in Y5 with considerable global delay made good progress, completing A.C.E. level 2 (Y2). He was able to work quite fast on his PACEs as he has an excellent memory. He is very socialable and liked by the other children and is able to enjoy playing chasing games with them.
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THE KING OF KINGS SCHOOL
GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
The child with SEND in Y6 began to demonstrate high intellectual ability, although his work level was still a year behind by the end of the year.
Children who had joined the school in Year 7 or 8 during Covid from state schools were no longer on gap PACEs, but the older ones who had joined in Y8 in 2022-23 were still a year or more behind, despite big improvements in attitude to work and work rate.
Two of the current students speak Portuguese at home, and there are two Chinese speaking families. One child from a Chinese speaking family was still not confident speaking English, by the end of the year, his written English was quite good. Other students, even where English is EAL, were good English speakers.
Honour Roll, Trips and Events
Students who completed the right amount of PACE work and learnt the scripture passages gained Honour Roll, either A or B, depending on their PACE average. The children on A Honour Roll were given a book and taken for a trip. Those on B were given a book and lunch.
We were able to take more usual series of trips, as more things began to open after Covid. Senior students were able to go to Manchester Careers Fair and were given a wonderful day at Salford university, arranged for them by one of the parents.
The Summer Banquet took place after we returned from ESC where all the children were successful in almost all their events and we won PACE bowl.
All the families and children came together for the Summer Banquet and feasted on the food we had all brought and watched the children put on a display of their work, especially that prepared for Student Convention.
Ofsted
On the evening of the day we moved in to our new premises, Monday 6 November 2023, Ofsted rang to say they were coming in to inspect us in a standard inspection the following morning. Despite pleas to defer, they insisted in coming.
As the brunt of the work the move 10 days had fallen on the headteacher and she had gone away on a delayed
holiday.
Ofsted found numerous issues which they deemed unsatisfactory, having refused to take in to account that the entire school had moved and set up only 24 hours prior to their arrival. It was no surprise that we had not prepared a medical room, had not yet put up evacuation maps in each room, that school policies (stored at the headteacher's house in transition) were not available and that the online versions were not found as they were stored on a school computer which had not yet been set up. The usual tasks of sorting everything out was impeded by the four remaining members of staff having constant meetings with Ofsted. The result was "requires improvement", with 42 parts of the Independent Schools Standard unmet, some of which we had actually met but they missed, despite correct documentation being submitted. The report which followed was extremely vague.
The head researched and updated everything and submitted an Action Plan which was rejected as likely to be insufficient (but at our monitoring visit in October 2024, almost all was accepted). We worked hard on everything together throughout the rest of the year, rewriting most of the documentation and adjusting the EYFS.
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THE KING OF KINGS SCHOOL
GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Governors
Nigel Steele was able to re join the Board of Governors by the end of the year.
Staff
The full time staff remained the same; one for EYFS, one for YR to Y2, one for the juniors and one for the seniors and a head who teaches some lessons.
These staff members supervised the ACE programme and taught further lessons throughout the school (e.g. practical science, languages, extended writing, history, apologetics, careers, RSE, scripture, art and music) and acted as lead in various situations (e.g. EYFS, DSL, ICCE, health and safety, fire officer, attendance officer, SENCO).
We were assisted by others;
MB taught PE to juniors and lower school on Thursdays, bringing equipment in with him. The seniors started the year with badminton on Thursday and ended with futsal, with a football coach.
LL has regularly helped in the main learning centre on Wednesdays.
JD has been available to help in all sorts of ways throughout the year, including taking art lessons for the seniors on Tuesdays.
We had a new peripatetic piano teacher.
Staff Training
The staff and Governors have kept their training up to date. The infant teacher completed her 12 hour Paediatric training; the head renewed Safer Recruitment.
The DSL, Deputy DSL and safeguarding Governor completed basic and lead safeguarding training. The Chair of Governors completed level 3 safeguarding training through Salford. Staff members updated their A.C.E. Profession training and ICCE training.
CEE Inspection
This was carried out in the Spring Term 2024. We still achieved 90% for A.C.E. although we could not use A.C.E. as this required furniture and some methodology. The pass mark is 60%
Curriculum
We developed EYFS curriculum further to run alongside Reading Readiness and ABCs. We developed history lessons to include history and society teaching in the Spring term to explicitly cover British values, especially democracy. We developed RSE and relationships curriculum further. We were able to improve the careers offering as more was available after Covid. For the same reason, children were able to resume going on more trips.
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THE KING OF KINGS SCHOOL
GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Premises
The circumstances in the Autumn Term of 2023 were unusual.
We had been asked to move by our landlords who could no longer afford to maintain the building. We agreed to move out by the end of August 2023. We were eager to move out as part of the premises had become unusable. They had increased our rent many times and demanded and received an extra £30,000 in back pay for maintenance charge they introduced. This was covered by additional giving.
Potential alternative venues were actively sought, but we were unable to secure anywhere despite our best efforts during the year 2022 to 2023. Our landlords (despite being a registered charity) then took us to court to force us to evacuate and just as proceedings were underway we were offered the use of a large multi use parish hall at St Luke's, Salford. Terms were agreed and we started to move in on 1 November 2023, during the half term.
In the 10 days of the half term holiday prior to the move we discarded three quarters of our materials, including furniture, storing the rest in various churches, private homes around the city and transporting some to the new premises. We finished the move and the cleaning of the old premises late on Sunday night, 5 November.
The court hearing was on the same day that the school reopened in our new premises (6 November 2023), by which time we had already vacated and cleaned everything behind us and did not owe the landlords any money. The case was immediately dismissed, but we had been advised to employ a barrister at a cost of £5,000.
In the new premises, we would have to set up school and take it down each day and so had worked out how to run capsule school in these circumstances, with limited storage. The curriculum we use requires certain types of desks which we had to replace with folding tables. With help from parents, governors, churches, friends and families, we had everything in place for the children to return from half term holiday and start work immediately on Monday 6 November 2024.
Despite the difficult circumstances, our stay at St Luke's has been tranquil and happy. The landlords have been good and swift to take any necessary action.
Due to the circumstances at the end of the year 2022-23, we tried not to take in any additional children but some new children did join us. We did not lose any children over the move.
In the Spring term 2024, we were offered the prospect of an excellent long term building (Nicholls building). We were expecting to move in September 2024, as negotiations were at an advanced stage, but unfortunately, Manchester Council prevented the vendor from selling and later purchased the building themselves. We therefore agreed with the present landlords (St Luke's Salford) that we would stay for a further 12 months. In preparation for the expected move to the Nicholls building, the Chair and the Head went on training days for the fundraising and development.
In conclusion
Our children still come from all around the city and we continue to have excellent support from the parents.
The staff worked incredibly hard, cheerfully and faithfully, to deal with all the challenges of the year 2023 to 2024.
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THE KING OF KINGS SCHOOL
GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
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 £2,968 will be deducted from the reserves brought forward. At the year end there is a deficit of £352 in reserves. The charity’s policy towards free reserves is that these should be sufficient to cover one month of trading costs.
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.
Dividends
The payment of a dividend or any other distribution to members is not permitted under the terms of the Company's Memorandum of Association.
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THE KING OF KINGS SCHOOL
GOVERNOR'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
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. The level of remuneration has been approved and amounted to £46,100 (2023 £40,320). 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.
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 31 July, 2024. 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: 27 May 2025
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THE KING OF KINGS SCHOOL
STATEMENT OF GOVERNOR'S RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY 2024
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 2024.
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:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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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
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1 which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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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.
Claire L Taylor BA (Hons) FCCA Chadwicks Statutory Auditors Chartered Accountants Capital House 272 Manchester Road Droylsden Manchester M43 6PW
Dated: 28 May 2025
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THE KING OF KINGS SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 66,837 | 29,907 |
| Charitable activities | 3 | 79,098 | 95,529 |
| Investments | 4 | 91 | 51 |
| Total income | 146,026 | 125,487 | |
| Expenditure on: | |||
| Charitable activities | 5 | 148,994 | 131,391 |
| Net expenditure for the year/ | |||
| Net movement in funds | (2,968) | (5,904) | |
| Fund balances at 1 August 2023 | 2,616 | 8,520 | |
| Fund balances at 31 July 2024 | (352) | 2,616 |
The statement of financial activities includes all gains and losses recognised in the year.
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.
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THE KING OF KINGS SCHOOL
BALANCE SHEET
AS AT 31 JULY 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 11 | 587 | 1,063 | ||
| Cash at bank and in hand | 1,816 | 3,738 | |||
| 2,403 | 4,801 | ||||
| Creditors: amounts falling due within | 12 | ||||
| one year | (2,755) | (2,185) | |||
| Net current (liabilities)/assets | (352) | 2,616 | |||
| Net assets excluding pension liability | (352) | 2,616 | |||
| The funds of the charity | |||||
| Unrestricted funds | (352) | 2,616 | |||
| (352) | 2,616 |
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 2024.
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 27 May 2025
Dr B Oyebande Governor
Company registration number 02022869 (England and Wales)
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THE KING OF KINGS SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
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 83 Manchester Road, Audenshaw, Manchester, M34 5PZ.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts 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.
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.
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THE KING OF KINGS SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
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 the statement of financial activities.
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 | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 66,837 | 29,907 |
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THE KING OF KINGS SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| School fees | 78,746 | 93,267 |
| Donations (other) | 352 | 2,262 |
| 79,098 | 95,529 |
4 Investments
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 91 | 51 | |
| 5 | Expenditure on charitable activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 79,037 | 69,816 | |
| Workbooks | 13,797 | 11,292 | |
| Books and consumables | 7,038 | 5,925 | |
| General expenses | 5,489 | 1,888 | |
| Telephone & IT | 76 | 370 | |
| Rent and rates | 31,898 | 36,846 | |
| Insurance | 719 | 714 | |
| Maintenance | 729 | 911 | |
| School trips/conventions | 630 | 1,394 | |
| Bad debt provision | - | (800) | |
| Training | 2,036 | 950 | |
| Ofsted | 641 | 636 | |
| 142,090 | 129,942 | ||
| Share of support and governance costs (see note 6) | |||
| Governance | 6,904 | 1,449 | |
| 148,994 | 131,391 | ||
| Analysis by fund | |||
| Unrestricted funds | 148,994 | 131,391 |
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THE KING OF KINGS SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
| 6 Support costs Support costs Governance costs £ £ Accountancy - 1,449 Legal and professional - 5,455 - 6,904 Analysed between Charitable activities - 6,904 |
2024 Support costs Governance costs £ £ £ 1,449 - 1,449 5,455 - - 6,904 - 1,449 6,904 - 1,449 |
2023 £ 1,449 - |
|---|---|---|
| 1,449 | ||
| 1,449 |
Governance costs includes a provision for audit and accountancy fees of £1,449 (2023- £1,380).
| 7 | Net movement in funds | 2024 | 2023 |
|---|---|---|---|
| £ | £ |
The net movement in funds is stated after charging/(crediting):
8 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 |
|---|---|
| Number | Number |
| 4 | 4 |
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Tenants improvements Fixtures and fittings £ £ Cost At 1 August 2023 10,685 14,226 At 31 July 2024 10,685 14,226 Depreciation and impairment At 1 August 2023 10,685 14,226 At 31 July 2024 10,685 14,226 |
Total £ 24,911 |
| 24,911 | |
| 24,911 | |
| 24,911 |
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THE KING OF KINGS SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
11 Debtors
| Debtors | ||
|---|---|---|
| Amounts falling due within one year: Other debtors Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
2024 £ 587 2024 £ 1,006 300 1,449 2,755 |
2023 £ 1,063 |
| 2023 £ 736 - 1,449 |
||
| 2,185 |
12 Creditors: amounts falling due within one year
13 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 August | Incoming | Resources | At 31 July | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 2,616 | 146,026 | (148,994) | (352) |
| Previous year: | At 1 August | Incoming | Resources | At 31 July |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 8,520 | 125,487 | (131,391) | 2,616 |
14 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 £46,100 (2023 £40,320). The level of remuneration has been approved by the independent trustees.
Two governors provide IT services, N Steele maintains the website for an annual charge of £120 and D Oyebande pays the monthly internet bill and purchases any necessary IT equipment, both of which are refunded to him.
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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