| Page | |
|---|---|
| Charitylnformation | 2 |
| Trustees'Report | 3-7 |
| Auditor'sReport | 8-10 |
| Statement ofFinancialActivities | tt |
| Balance Sheet | 72 |
| NotestotheFinancialStatements | 13-18 |
| Trustees | NClark-Chairman | |
|---|---|---|
| HCarslake | KBeever | |
| DTHowell | JFoley | |
| LBryer | GWBallard | |
| HEdwards | ||
| JAttwater(Appointed18 | May2023) | |
| DLGreen(Appointed18May2023) | ||
| T Dupernex(Appointed2Feb2023) | ||
| LConnell {ResignedtOct | 2022) | |
| LSheen (Resigned24 Jan2023) | ||
| PPreston (Resigned10Aug 2023) | ||
| Executive Officers | GDoodes | |
| GMason | ||
| HSparrey | ||
| ClerktoTrustees&AccountantGMason | ||
| CharityNumber | 527530 | |
| RegisteredName | TheKing'sSchoolWorcester DevelopmentTrust | |
| Registered Office | 5 College Green | |
| Worcester | ||
| WR1zLL | ||
| Auditor | RichardsSandyAuditServicesLimited | |
| ThorneloeHouse | ||
| 25BarbourneRoad | ||
| Worcester | ||
| WR11RU | ||
| Bankers | Lloyds BankPlc | |
| 4 TheCross | ||
| Worcester | ||
| WR13PY | ||
| lnvestmentAdvisor | NKFinancialManagement Limited | |
| Suite12c STANTA BusinessCentre | ||
| 3Soothouse Spring | ||
| StAlbans | ||
| Hertfordshire | ||
| AL36PF |
| King's School | King's School | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Parents' | Yearto31 | Yearto31 | |||||||
| Unrestricted | Committee | King's School | iuly2023 | July2022 | |||||
| Funds | Funds | OtherFunds | TotalFunds | TotalFunds | |||||
| Note | f | f | f | t | r. | ||||
| (Nore13) | (Note13) | ||||||||
| lncome andendowments | |||||||||
| frorn; | |||||||||
| Donationsandlegacies | 3,354 | 102,714 | 106,068 | 1,457,550 | |||||
| Other trading activ¡ties | 208 | 72,270 | v2,478 | 17,599 | |||||
| lnvestments | 380 | 200 | 26,270 | 26,850 | 1,4t9 | ||||
| Total | , | 3,942 | V2,47O | 128,984 | 205,396 | 1,476,568 | |||
| Expenditure on: | |||||||||
| Raisingfunds | 4,O48 | 48,25L | 28,546 | 80,845 | 37,750 | ||||
| Charitableactivities | 4,454 | 30,964 | 23L,552 | 266,9VO | 3t4,238 | ||||
| Total | 3 | 8,502 | 79,215 | 260,098 | 347,8t5 | 351,988 | |||
| Gains/(losses)oninvestment | 186,515 | 185,515 | (67,476]' | ||||||
| assets | |||||||||
| Netincome/(expe¡rditure) | (4,5601 16,7451 55,402 | 44,096 | 'J.,057,L04 |
||||||
| Transfersbetweenfunds | !.3. | ||||||||
| Netmovement in funds | (4,560) | (6,745) |
55,402 | 44,096 | r,O57,L04 | ||||
| Totalfundsbrought forward | 35,578 | 34,2LO 4,944,523 | 5,014,311 | 3,957,207 | |||||
| Total fundscarriedforward | 13. | 31,018 | 2V,4654,999,924 | 5,058,407 | 5,014,311 |
| Unrestricted | Restricted | Restricted | iLtuly2023 | 3IJuly2022 | ||
|---|---|---|---|---|---|---|
| Note | Funds | Funds | Totsl | Total | ||
| f | f | ç. | Ê | |||
| lnvestrîents | I | 4,498,7474,498,747 | 3,393,960 | |||
| Currentassets | ||||||
| Stock | 10" | 4,653 | 4,653 | 7,562 | ||
| Debtors | L1. | 9,163 | 9,163 | 122,980 | ||
| lnvestments | ||||||
| Cashatbank | 32,250 | 520,523 |
552,773 | 1,6L6,218 | ||
| Totalcurrentassets | 36,903 | 529,686 | 565,589 | L,746,760 | ||
| Creditors: amountsfallingdue withinone year |
L2 | 5,995 | L,O44 | 6,929 | t26,409 | |
| Netcurrentassets | 31,018 | 528,642 | 559,660 | 1,620,35L | ||
| Totalnetassets | 31,018 | 5,027,3gg5,059,407 | 5,014,3Lt | |||
| FundsoftheCharity | ||||||
| RestrictedlncomeFunds | 13. | 5,027,389 | 5,027,389 | 4,979,733 | ||
| UnrestrictedFunds | 31,018 | 31,018 | 35,578 | |||
| TotalFunds | 31,018 | 5,027,3895,059,407 | 5,OL,3tL |
| Analysisof incomeandendowments | Yearto 3lJuly 2023 f |
Yearto 3lJuly2022 f |
|---|---|---|
| Donations andlegacies | ||
| Donations andlegaciesfrom individuals | L05,227 | L,456,227 |
| Donation fromSwopShop | 84r | t,323 |
| 105,068 | 1,457,550 | |
| Other trading activities | ||
| King'sSchool Parents' Committeesfundraising events' proceeds | 72,27O | 17,t69 |
| Fund-raising merchandisesales | 208 | 430 |
| 72,478 | 17,599 | |
| lnvestments | ||
| lncomefrom investmentassets | 2t,8L8 | r,348 |
| lncomefrom currentassetinvestments | ||
| Bankinterestreceivable | 4,653 | 10 |
| Otherinterestreceivable | 379 | 61 |
| 26,850 | L,4t9 | |
| 205,396 | t,476,568 |
| 3 | Analysisof expenditure | E 2023 |
f 2022 |
|---|---|---|---|
| Raisingfunds | |||
| Bankand fundraising website charges | 1,139 | 767 | |
| Fund raisingOVmerchandising costs | 2,909 | 62t | |
| lnvestmentManagerfees | 28,546 | 23,475 | |
| King'sSchool Parents' Committeesfundraisingevents'costs | 45,25L | 72,987 | |
| 80,845 | 37,750 | ||
| Charitableactivities | |||
| GrantstoTheKing's SchoolWorcester | 23t,ssz | 309,998 | |
| King'sSchool Parents' Committeesothercharitablegrants | 30,964 | 200 | |
| Governancecosts | 4,454 | 4,O40 | |
| 266,970 | 3L4,238 | ||
| 347,8t5 | 351,988 |
| it/lndependentExamination | oftheaccounts | 2023 | 2022 |
|---|---|---|---|
| € | f | ||
| Auditors'fee | 3,840 | 3,654 |
| I | Grantmaking | Grents:Total Amounts 2023 2022 |
Grents:Total Amounts 2023 2022 |
|---|---|---|---|
| Purposeforwhich grantsmade: BursariesforpupilsattendingKing's SchoolWorcester Othercharitable support forKing's SchoolWorcester Parents'Comm¡tteessupportforKing'Schoolworcester |
f€ 22t,876 9,676 30,964 |
183,448 119,007 8,743 |
|
| 262,5t6 | 310,198 |
| 9 | Fixed Assetlnvestments | 2423 | 2022 |
|---|---|---|---|
| î | f | ||
| lnvestments held primarilytoprovideaninvestmentreturn forthe charity: | |||
| Carrying value(marketvalue)atbeginning ofyear | 3,393,960 | j,483,563 | |
| Add:Additionstoinvestments atcost | 925,000 | ||
| Less: Disposalsat carryingvalue | |||
| lnvestment incomereceived | 2t,8t8 | 1,348 | |
| lnvestment Managercharges | (28,546' | (23,475) | |
| Add/deduct:Netgain/(loss)onrevaluation | 186,515 | (67,476) | |
| Carrying value(market value) at endofyear | 4,498,747 | 3,393,960 |
| 10 | Stock | ZOZ} | ZO22 |
|---|---|---|---|
| f€ | |||
| Branded goodsheldforresale/tradingactivities | 4,653 | 2,562 | |
| Duringthe year stockimpairmentprovisionstotallingf2,3OZ (2022: none) | werechargedtothe Statement of | Financial | |
| Activities | |||
| 11 | Debtors | 2023 | 2022 |
| Ê | € | ||
| Taxreclaimable on Gift Aid donations | 606 | 46,354 | |
| OwedtoParentscommittees | L,O82 | 800 | |
| DuefromKing'sSchoolWorcester | 3,056 | ||
| DuefromKing'sSchoolWorcester ActivitiesLtd | 8,L05 | ||
| Prepayments andAccrued lncome | 7,453 | 64,663 | |
| Other debtors | 22 | 2 | |
| 9,L63 | !22,980 |
| Creditors: amountsfallingduewithinone year | 2023 | 2022 |
| f | € | |
| DuetoKing'sSchoolWorcester | t20,8t9 | |
| Managementexpensesandprofessional fees | 5,880 | 5,080 |
| DuetoKing'sSchoolWorcester Activ¡tiesLtd | 5 | |
| Other creditors | t,044 | 510 |
| 6,929 | t26,409 |
| NOTES TO THEFINANCIAISTATEMENTS | |||||||
|---|---|---|---|---|---|---|---|
| 13Movements on funds | Transfers | lnvestment | |||||
| Balanceat | Net lncome/ | Between | Gains and | Balanceat | |||
| LAug2022 f |
lncome f |
Expenditure(expenditure) ff |
Funds f |
Losses € |
31 July2023 f |
||
| GeneralFunds | 35,578 | 3,942 | (4,s60) | 31,018 | |||
| Restrícted lncomeFunds: | |||||||
| Parents'CommitteesFunds | |||||||
| -King'sSenior | 12,524 | 12,398 | (L2,408) | (10) | 12,5I4 | ||
| -King's StAlbans | 3,0ss | 5,497 | (s,298) | 799 | 3,254 | ||
| -King'sHawford | r.8,631 54,575 (61.s09) (6,934) 34,210 72,470179,215116,74s) |
rr,691 27,465 |
|||||
| ÍheKing'sSchoolOtherFunds: | |||||||
| John Pimley Bursary Fund | 124,098 | 458 | (7ss) | (341) | 3,584 | 127,341, | |
| King's SchoolEnduringBursary Fund | 3,098,829 | 27,O20 | (9r-,978) | (64,9s8) | 90,233 | 3,124,104 | |
| King's SchoolFellowshipBursaryFunds | 511,087 | 81,059 | (10s,308) | (24,239) | 7,717 | 494,565 | |
| KildareBursaryFund | 1,r.00,000 | L2,344 | {37,309) | (24,95s) | 82,689 | 7,757,724 | |
| King's SchoolMStevens Bursary Fund | 6,282 | 202 | (68) | 134 | 291, | 6,707 | |
| KingisSchoolAnnualFund King's School BoatClubFund |
8,260 7,628 |
(6,ss0) | (6,ss0) | 380 | 8,640 1,038 |
||
| King's SchoolSPACEFund | 130 | (130) | |||||
| King's School German StudiesAward | 250 | (2s0) | |||||
| Peter lddonBursary Fund | 22,586 | 2,L90 | 2,L90 | 24,776 | |||
| BancksBlundellBursaryFund | 25,000 | 2 | (136) | (134) | 2,OO3, | 26,867 | |
| KingsUkrainianFunds | 9,723 | 5,699 | (t4,8231 | (9,1241 | (1) | ||
| Kings Chess Fund | 31,250 | (3,087) | (3,087) | 28,163 | |||
| TotalKing's SchoolOtherFunds | 4,944,s23 | L28,984 (260,098) | (r3L,Lt4l | 186,5154,999,924 | |||
| lotalfunds | 1 | 20s,396(347,815) | (t42,4t91 | 186,5155,05&407 |
| Movements n funds-riorear | ||||
|---|---|---|---|---|
| o py | Transfers | |||
| Balance at lncoming Resources |
Net lncome/ | Between Gains and |
Balanceat | |
| 1Aug202t î. resources f expended € |
(expenditure) f |
Funds E Losses € |
3LJuly2022 î. |
|
| GeneralFunds | 36,5r2 4,494 (s,428) |
(s34) | 35,578 | |
| Restricted lncomeFunds | 1,472,O74 | I,L25,514 | 167,4761 | 4,978,733 |
| 9,957,207t,476,568 | 1,124,580 | (67,4761 | 5,014,311 | |
| Restricted lncomeFunds: | ||||
| Fund Name | Purpose | Restríctions | ||
| King's School Enduring Bursary Fund | Bursariesfor pupils attending theSchool | Nonebeyond purposeofgift | ||
| King's SchoolFellowshipBursary Fund | Bursariesfor pupils attending theSchool | Nonebeyond purposeofgift | ||
| King's SchoolMStevens Bursary Fund | Bursariesforpupilsattending theSchool | Grantstowards cost oftrips | ||
| KildareBursary Fund | Bursariesforpupilsattending theSchool | Nonebeyond purposeofgift | ||
| King's SchoolAnnualFund | Equipmentpurchases | Nonebeyond purposeofgift | ||
| King's SchoolSPACEFund | DevelopmentoftheSports andPerforming ArtsCentre(SPACE) | Nonebeyond purpose ofgift | ||
| Peter lddonBursary Fund | Bursariesforpupilsattending theSchool | Pupilwithclearcricketingabilities | ||
| BancksBlundellBursaryFund | Bursariesforpupilsattending theSchool | Nonebeyond purpose of gift | ||
| JohnPimley Bursary Fund | Bursariesfor pupils attending theSchool | Namedaward; pupilprogress | ||
| Parents'CommitteeFunds | Equipment purchases | Parents'Committee approval | ||
| KingsUkrainianFunds | Bursariesforpupilsattending theSchool | PupilsfromUkraine | ||
| KingsChessFund | Tosupport theplayingofchessattheSchool | Nonebeyond purposeofgift | ||
| King's School Boat ClubFund | Equipmentpurchases | Nonebeyond purpose of gift | ||
| GeneralFund | Unrestrictedpurchases | Nonebeyond purposeofgift | ||
| GermanStudiesAward | Tosupport the study ofGerman attheSchool | Nonebeyond purposeofgift |
| Comparative StatementofFinancial | Activit¡es-year | to | 3L luly2A22 | ||||
|---|---|---|---|---|---|---|---|
| Restr¡ctedFunds | |||||||
| King'sSchool | |||||||
| Parents' | Yearto31 | ||||||
| Unrestricted | JohnPimleyCommittee | King's School | tuly2A22 | ||||
| Funds | BursaryFund | Funds | OtherFunds | TotalFunds | |||
| € | €[ | € | î. | ||||
| lncoming andendownnentsfrorn: | |||||||
| Donationsandlegacies | 4,001 | 1,,453,549 | 1,457,550 | ||||
| Charitable activities | |||||||
| Othertradingactivities | 430 | 17,169 | LV,599 | ||||
| lnvestments | 63 | 43 | 8 | L,305 | L,4t9 | ||
| Total | 4,494 | 43 | L7,177L,454,854 | t,476,569 | |||
| Expenditure on: | |||||||
| Raisingfunds | 1,388 | 816 | L2,887 | 22,659 | 37,750 | ||
| Charitable activities | 4,040 | 8,743 | 301,455 | 314,238 | |||
| Total | 5,428 | 816 | 21,630 324,L14351,ggg | ||||
| Gains/(losses)on investmentassets | (2,306) | (65,170)Ít67,4761 | |||||
| Net incomey'(expenditure) | (e34) | 3,079 | (4,453)1,065,570L,O57,IO4 |
||||
| Transfersbetweenfunds | |||||||
| Netmovementin funds | (s34) | (3,079) | (4,453) | 1,065,570 | L,O'V,LO0 | ||
| Totalfundsbroughtforward | 36,512 | \27,r77 | 38,663 | 3,754,855 | 3,957,2O7 | ||
| Totalfundscarriedforward | 35,578 | L24,O98 | 34,2104,824,4255,014,311 |