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||Page|
|---|---|
|Charitylnformation|2|
|Trustees'Report|3-7|
|Auditor'sReport|8-10|
|Statement ofFinancialActivities|tt|
|Balance Sheet|72|
|NotestotheFinancialStatements|13-18|





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|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||





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|||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||<br>'J.,057,L04|
|Transfersbetweenfunds|!.3.|||||||||
|Netmovement in funds||(4,560)|<br>(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|





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|||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||<br>520,523|552,773|1,6L6,218|
|Totalcurrentassets||36,903||529,686|565,589|L,746,760|
|Creditors: amountsfallingdue<br>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|





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|Analysisof incomeandendowments|Yearto<br>3lJuly 2023<br>f|Yearto<br>3lJuly2022<br>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|





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|3|Analysisof expenditure|E<br>2023|f<br>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|



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|it/lndependentExamination|oftheaccounts|2023|2022|
|---|---|---|---|
|||€|f|
|Auditors'fee||3,840|3,654|



|I|Grantmaking|Grents:Total Amounts<br>2023<br>2022|Grents:Total Amounts<br>2023<br>2022|
|---|---|---|---|
||Purposeforwhich grantsmade:<br>BursariesforpupilsattendingKing's SchoolWorcester<br>Othercharitable support forKing's SchoolWorcester<br>Parents'Comm¡tteessupportforKing'Schoolworcester|f€<br>22t,876<br>9,676<br>30,964|183,448<br>119,007<br>8,743|
|||262,5t6|310,198|





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|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|



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||||
|---|---|---|
|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|





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|NOTES TO THEFINANCIAISTATEMENTS||||||||
|---|---|---|---|---|---|---|---|
|13Movements on funds|||||Transfers|lnvestment||
||Balanceat||Net lncome/||Between|Gains and|Balanceat|
||LAug2022<br>f|lncome<br>f|Expenditure(expenditure)<br>ff||Funds<br>f|Losses<br>€|31 July2023<br>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<br>54,575<br>(61.s09)<br>(6,934)<br>34,210 72,470179,215116,74s)||||||rr,691<br>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<br>King's School BoatClubFund|8,260<br>7,628||(6,ss0)|(6,ss0)|380||8,640<br>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<br>lncoming<br>Resources|Net lncome/|Between<br>Gains and|Balanceat|
||1Aug202t<br>î.<br>resources<br>f<br>expended<br>€|(expenditure)<br>f|Funds<br>E<br>Losses<br>€|3LJuly2022<br>î.|
|GeneralFunds|36,5r2<br>4,494<br>(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||





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|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|<br>(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||||