## ## ## |Trustees||N Clark
—Chairman|N Clark
—Chairman|||| |---|---|---|---|---|---|---| |||H Carslake||||| |||DT Howell||||| |||L 8ryer||||| |||H Edwards||||| |||G W Ballard (appointed|||27January 2022)|| |||A Reekes (resigned||4 April 2022)||| |||F Hira (resigned|11May||2022)|| |||D Dale (resigned|16May||2022)|| |||P Preston (resigned 10August 2022)||||| |||J Weston (resigned||11May 2022)||| |||CJury (resigned|11May||2022)|| |||LSheen (resigned||24January 2023)||| |Executive|Officers|G Doodes||||| |||G Mason||||| |||H Sparrey||||| |Clerk to Trustees BAccountant||G Mason||||| |Charity Number||527530||||| |Registered|Name|The King's School|Worcester Development|||Trust| |Registered|Office|5 College Green||||| |||Worcester||||| |||WR1 2LL||||| |Auditor||Richards Sandy Audit Services Limited||||| |||Thorneloe
House||||| |||25 Barbourne
Road||||| |||Worcester||||| |||WR1 1RU||||| |Bankers||Lloyds Bank Pic||||| |||4The Cross||||| |||Worcester||||| |||WR1 3PY||||| |Investment|Advisor|NK Financial
Management|||Limited|| |||Suite 12cSTANTA|Business Centre|||| |||3Soothouse Spring||||| |||StAlbans||||| |||Hertfordshire||||| |||AL3 6PF||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||||Restncted
I unds|||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||King's School|||| ||||||||||Parents'||year to 31|year to 31| |||||||Unrestricted|John Pimley||Committee|King's School|July 2022|July 2021| |||||||Funds|Bursary|Fund|Funds|Other Funds|Total Funds|Total Funds| |||||||E||||||| ||||||||||(Note 13)|(Note 13)||| |Income and||endowments||||||||||| |from:||||||||||||| |Donations|and||legacies|||4,001||||1,453,549|1,457,550|360,012| |Other trading|||activities|||430|||17,169||17,599|8,469| |Investments||||||63|||8|1,305|18419|1,114| |Total||||||||43|17,177|1,454,8S4|1,476,568|369,595| |Expenditure||on:||||||||||| |Raising funds||||||1,388||816|12,887|22,659||27,254| |Charitable|activities|||||4,040|||8,743|301,455|314,238|214,442| |Total|||||3.|5,428||816|21,630|324,114|351,988|241,696| |Gains/ (losses)
assets|||on investment||||(2,306)|||(65,170)|(67,476)|468,359| |Net income/(expenditure)||||||(934)|(3,079)||(4,453)|1,065,570|1,057,M4|596,258| |Transfers between||||funds||||||||| |Net movement|||in funds|||(934)|(3,079)||(4,453)|1,065,570|1,057,104|596,258| |Total funds|brought|||forward||36,512|127,177||38,663|3,754,855|3,957,207|3,360,949| |Total funds|carried|||forward|13.|35,578|124,098||34,210|4,820,425|5,014,311|3,957,207| ## ## ## ||||Unrestricted|Restricted|31July2022|31July 2021| |---|---|---|---|---|---|---| |||Note|Funds|Funds|rotof|Total| ||||E|E|E|E| |Investments||||3,393,960|3,393,960|3,483,563| |Current assets||||||| |Stock||10.|7,562||7,562|8,183| |Debtors|||8,817|114,163|122,980|41,688| |Investments||||||| |Cash at bank|||41,622|1,574,596|1,616,218|443,637| |Total current assets|||58,001|1,688,759|1,746,760|493,508| |Creditors: amounts
within one year|falling due|12.|22,423|103,986|126,409|19,864| |Net current assets|||35,578|1,584,773|1,620,351|473,644| |Total net assets|||35,578|4,978,733|5,014,311|3,957,207| |Funds ofthe Charity||||||| |Restricted Income Funds||13.||4978733|4g978p733|3,920,695| |Unrestricted|Funds||35,578||35,578|36,512| |TotalFunds|||35578|4 978733|Sp014p311|3,957,207| ## ## ||||||||31July 2022|31July 2021| |---|---|---|---|---|---|---|---|---| ||||||||roloi|Total| ||||||||6|E| |Net cash flows from operating
activities|||||||1,172,510|163,693| |Cash flows from investing
activities:||||||||| |Dividends,
interest
and other|income|from|investments||||71|100| |Proceeds from sale of investments||||||||| |Purchase of investments||||||||| |Net cash provided
by (used in) investing
activities|||||||71|100| |Change
in cash and cash equivalents||in the|reporting|period|||1,172,581|163,793| |Cash and cash equivalents
at|the beginning||ofthe reporting|||period|443,637|279,844| |Cash and cash equivalents
at|the end|ofthe reporting|||period||1,616,218|443,637| |RECONCILIATION
OF NET INCOME TO||NET CASH FLOW|||FROM OPERATING||ACTIVITIES|| |Net income for the reporting
activities)|period (as per||statement|offinancial|||1,057,104|596,258| |Adjustments
for:||||||||| |(Gains)/losses
on investments|||||||67,476|(468,359)| |Investment
manager charges|deducted|from investments|||||23,475|22,131| |Dividends,
interest and other|income from investments||||||(1,419)|(1,114)| |(Increase)/decrease
in stocks|||||||621|3,126| |(Increase)/decrease
in debtors|||||||(81,292)|10,038| |Increase/(decrease)
in creditors|||||||106,545|1,613| ||||||||1,172,510|163,693| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |3|Analysis|ofexpenditure|||||||||2021| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||E| ||Raising funds||||||||||| |||Bank and fundraising||website|charges|||||767|578| |||Fund raising|OV merchandising||costs|||||621|3,126| |||Investment|Manager|fees||||||23,475|22,131| |||King's School Parents'||Committees||fund|raising events'||costs|12,887|1,419| |||||||||||37,7SO|27,254| ||Charitable|activities|||||||||| |||Grants to The King's||School Worcester||||||309,998|210,422| |||King's School Parents'||Committees||other|charitable|grants||200|| |||Governance|costs|||||||4,040|4,020| |||||||||||314,238|214,442| |||||||||||351,988|241,696| ## ## ## |7|Fees for Audit/Independent|Examination|Examination|ofthe accounts|ofthe accounts|2022|2021| |---|---|---|---|---|---|---|---| ||||||||E| ||Auditors' fee|||||3,580|3,520| |8|Grantmaking|||||Grants: Total|Amounts| |||||||2022|2021| ||Purpose for which grants made:|||||E|E| ||Bursaries for pupils attending|King's School Worcester||||183,448|197,425| ||Other charitable support for|King's|School|Worcester||126,550|12,997| ||King's School Parents' Committees||other charitable||grants|200|| |||||||310,198|210,422| ## ## |9|Fixed Asset Investments||||||2021| |---|---|---|---|---|---|---|---| ||||||||f| ||Investments
held primarily
to provide|an investment|||return for the charity:||| ||Carrying
value (market value) at beginning|||ofyear||3,483,563|3,036,321| ||Add: Additions to investments
at cost||||||| ||Less: Disposals at carrying value||||||| ||Investment
income received|||||1,348|1,014| ||Investment
Manager
charges|||||(23,475)|(22,131)| ||Add/deduct:
Net gain/(loss)
on revaluation|||||(67,476)|46S,359| ||Carrying
value (market value) at end ofyear|||||3,393,960|3,483,563| ||At the year end f3,067,801(2021:f3,134,133)ofthis total value was invested
and unit trusts and f326 159(2021:f349430)was held as a cash deposit.|||||in UK open ended investment|companies| |10|Stock|||||2022|2021| |||||||f|f| ||Branded goods held for resale/trading||activities||||8,183| |11|Debtors|||||2022|2021| |||||||f|f| ||Tax reclaimable
on Gift Aid donations|||||46,354|22,309| ||Owed to Parents committees|||||800|334| ||Due from King's School Worcester||||||7,372| ||Due from King's School Worcester Activities|||Ltd||8,105|0| ||Prepayments
and Accrued Income|||||64,663|4,000| ||Other debtors|||||2|56| |||||||119924|34071| |12|Creditors: amounts
falling due within|one||year||2022|2021| ||||||||f| ||Due to King's School Worcester|||||120,819|21,526| ||Management
expenses and professional||fees|||5,080|4,520| ||Deferred
Income||||||500| ||Other creditors|||||510|690| |||||||126
9|27 236| ## |13|Movements
on funds||||||||||Transfers||Investment|Investment|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||Balance at||||Net income/|Between||Gains and||Balance at| |||||||1 Aug 2021
f|income|Expenditure
f||(expenditure)|Funds
f|||Losses|31July 2022
f| ||General Funds|||||36,512||(5,428 l||(934)|||||| ||Restricted income Funds:||||||||||||||| ||Parents' Committees
Funds||||||||||||||| ||—King's Senior|||||11,702|822|||822|||||12,524| ||—King's StAlba ns||||||6,099|(3,044)||3,055|||||3,055| ||- King's I-lawford|||||26,961|10,256|(18,586)||(8,330)|||||18,631| |||||||38,663|17,177|(21,630)||(4,453)|||||34,210| ||John Pimiey Bursary Fund|||||127,177|43|(816)||(T/3)||||(2,306)|124,098| ||King 's School Other Resrncted|Funds:|||||||||||||| ||l&ing's School Enduring
Bursary||Fund|||3,250,980|46,664|(139,809)||(93,145)||||(59,006)|3,098,829| ||Kmg's School Fellowship
Bursary|||Funds||450,225|132,019|(65,227)||66,792||||(5,930)|511,087| ||Kildare Bursary
Fund||||||1,100,000|||1,100,000|||||1,100,000| ||King's School M Stevens Bursary|||Fund||7,422|164|(1,070)||(906)||||(234)|6,282| ||King's School Annual
Fund|||||8,486|463|(689)||(226)|||||8,260| ||King's School Boat Club Fund|||||6,765|116,882|(116,019l||863|||||7,628| ||King's School SPACE Fund|||||80|50|||50|||||130| ||King's School German
Studies|Award||||250|||||||||250| ||The Robert Harley Award|||||1,300||(1,300)||(1,300)|||||| ||Peter Idden Bursary Fund|||||19,347|3,239|||3,239|||||22,586| ||Bancks Blundeg
Bursary Fund|||||10,000|15,000|||15,000|||||25,000| ||Kings Ukrainian
Funds||||||9,123|||9,123|||||9,123| ||Kings Chess Fund||||||31,250|||31,250|||||31,250| ||Total restricted income funds|||||3,920,695|1,472,074|(346,560)||1,125,514||||(67,476)|4,978,733| ||Total funds|||||3,957,207|1,476,568|(351,988)||1,124,580||||(67,476)|5,014,311| ||Movements
on funds
—prior year||||||||||Transfers||||| |||||||Balance at|Incoming|Resources||Net Income/|Between||Gains and||Balance at| |||||||1Aug 2020
f|resources
f|expended
f||(expenditure)
f|Funds|||Losses|31July 2021
f| ||General
Funds|||||34,807|9,429|(7,724)||1,705|||||36,512| ||Restricted Income Funds|||||3,326,142|360,166|(233,972)||126,194||||468,359|3,920,695| |||||||3,360,949|369,595|(241,696)||127,899||||468,359|3,957,207| ||Restricted Income Funds:||||||||||||||| ||Fund Name||||Purpose||||||Restrictions||||| ||King's School Enduring
Bursary|Fund|||Bursaries for pupils attending|||the School|||None beyond|||purpose ofgift|| ||King's School Fellowship
Bursary||Fund||Bursaries for pupils attending|||the School|||None beyond|||purpose of gift|| ||King's School M Stevens Bursary||Fund||Bursaries for pupils attending|||the School|||Grants towards cost oftrips||||| ||Kildare Bursary
Fund||||Bursaries for pupils attending|||the School|||None beyond|||purpose ofgift|| ||King's School Annual
Fund||||Equipment
purchases||||||None beyond|||purpose afgift|| ||King's School SPACE Fund||||Development||ofthe Sports and Performing||Arts Centre||None beyond|||purpose ofgift|| ||The Robert Harley Award||||Enable pupils||to continue
with an activity||||None beyond|||purpose ofgift|| ||Peter Iddon Bursary Fund||||Bursaries for pupils attending|||the School|||Pupil with clear cncketmg abihties||||| ||Bancks Blundell
Bursary Fund||||Bursaries for pupils attending|||the School|||None beyond|||purpose ofgift|| ||John Pimley Bursary Fund||||Bursaries for pupils attending|||the School|||Named award;|||pupil progress|| ||Parents' Committee
Funds||||Equipment
purchases||||||Parents'|Committee
approval|||| ||Kings Ukrainian
Funds||||Bursaries for pupils attending|||the School|||Pupils from||Ukraine||| ||Kings Chess Fund||||To support the playing of chess at the School||||||None beyond|||purpose ofgift|| ||Sufficien resources are held in|an||appropriate||form to enable each fund to be applied|||in|accordance
with|any restrictions.||||| ## |||||||Restricted|Restricted|Funds||| |---|---|---|---|---|---|---|---|---|---|---| ||||||||King's School|||| ||||||||Parents'|||Year to 31| ||||||Unrestricted|John Pimley|Committee||King's School|July 2021| ||||||Funds|Bursary Fund|Funds||Other Funds|Total Funds| |Incoming and||endowments||from:||||||| |Donations|and|legacies|||6,097||||353,915|| |Charitable|activities|||||||||| |Other trading||activities|||3,234|||5,235||8,469| |Investments|||||98|33||2|981|1,114| |Total|||||9,429|33||5,237|354,896|369,595| |Expenditure|on:|||||||||| |Raising funds|||||3,704|766||1,419|21,365|27,254| |Charitable|activities||||4,020|||4,579|205,843|214,442| |Total|||||7,724|766||5,998|227,208|241,696| |Gains/(losses)||on investment||assets||17,167|||451,192|468,359| |Net income/(expenditure)|||||1,705|16,434||(761)|578,880|596,258| |Transfers between|||funds|||||||| |Net movement||in funds|||1,705|16,434||(761)|578,880|S96,258| |Total funds|brought||forward||34,807|110,743|39,424||3,175,975|3,360,949| |Total funds|carried||forward||36,512|127,177|38,663||3,754,855|3,957,207|