THE KING'S SCHOOLWORCESTER DEVELOPMENT TRUST
FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31 JULY 2024
Redd Chartty No.. 52753Q

IHE KING'S SC•tOOLWORCESTER OEVEiOPM£NYTRusr
AP4APKIALSTATfAIEf415 FOR THE YEAR ENDED 31 IULV 11124
CI)NTfNTS OFTIIE FINANQALSTATEMENTS
Pa8e
Charlty InfDrmatlon
Trustees, Aewt
Audittt's Report
8-10
S1*em￿l of Flft3rKlal Attivltles
li
Balance Sheét
12
C85h Flow
Notesto thE Fin•ncÈal Statements
14- 19
Page 1

ThE KING'S SCHOOLWORCESTER DEVELOPMEKfTRUST
FINANaAL STATEMENTS FOR ThE YEAR END£0 31 JULY 2014
CHARITY INFORMATION
Trustses
N Clark Chairman
l Attwater
G W 8all4rd
K Beever
L Bryef
H Corslake
T Dupernex
H Edwards
l Folev
D L Green
W Hobbs (Appjinted iOOctober 20241
DT Howell
txecull¥e Offi¢eYs
G DO￿e$ IRe$4ened 31 August 20241
A Ol¥ver
(Appointed i September 20241
G Mason
H Sparrty
Clwk ioTrvgtees & A¢¢ountsnt
G Mason
tharltyI4trmber
527530
Re8lst*r*d N¥m
The Kin8's S£hool Worcester Development Trust
It￿1￿¢￿d Offl¢t
S College Gree
Wo¥cester
WRI 2LL
Auditor
Rlchard5 Sandy Audit Services Llrnlted
Thorneloe House
25 BarbouiTre Road
Worcester
WAI IRU
Lknyds Bonk PIC
4 The Cf055
WoT£e5ter
WRI 3PY
In¥estmonf Ad¥lwi
NK Finafttlal Manaiement Llmlted
Suite 12c STANTA business Cent
3 5oothou5e Sprlni
St Albans
Hertfordshlre
AL3 6PF
Page 2

THE IUNG'S SCHOOL WORCESTER DEVELOPMENT TRUST
ANNUAL REPORT OF THE TRUSTEES
FOR THE YfAR ENDED 31 JULY 2024
The Tru5tè* of the Kin8'5 school Worcester Devebpment Trust present thefrafinual ￿p}rt for Ihèyear ended 31Juty 2024
under the Chaiiries Att 2011, togetherwith the audiied finarscial st6tements for the ye¥.
The linanciil statement5 have been ptepared In a¢iordarTrce ￿t￿ the accoyntlnÈ policies sei out in notesto the accounts and
comply 44th thetharit*s governing dacument. the Charities Att 2011 ènd Accounting and ReportlnÈ byCh)rities.' Statement of
Atyornmended Practice ap￿1¢abIttO char*ties preparing thelr actorjnts in accordance wkh the Finarcial Reporting Standard
appltable in UK and Republic of Ireland its5ued in Octo￿1 2019.
REFEREPICE ADMINSTRATIVE INFORMATKJN
The charky was founéed In 1968 and is a reEistered rhèrity regulated by the Charity Commls5ioneis lor £rt8land and Wales. The
Trustees. Exerutive Officers and princlpal addYesse5 (Jf the Charity are as listed on p?Ee 2.
MUCTURE GOVERNANCE AND MANAGEMENT
Gov•rnln$ DW￿rnent
The charSty 55 8o¥erned by Its Trust Deed dated 20 5epte¥nbEr 1968 whlch w05135t amended In SÈpttmber 2005.
ReC￿￿￿•￿t andTerrnsol Ollke oifrysteos
Trustees are elected at è meetingofthe Board ol Trustee5 on the ba51$ of no￿1￿&10￿5 received from existing frustee5, Exerutive
Officers or other pers(Ms workln8 Wlth the Trusr, having re8ard to the 8oafd's rpqulrements concernlTr8 eligibllity, personal
competence. spec5alist s￿1￿, avallability and any relationship Ipast tsr presentl with the KinB'5 School Wor£ESter. Member5 of the
Old ViBomian Club ond pèrÈnt5 of current andlor fomer pupils of The Kitt8's Schonl Wwcester are ¥epresented on the Board of
Trustees. All Trustees serve foraterm of four yea'.5 at the eryd of which they may be re-sppointedfora furthe¥term of fouryear5.
The Trust Oeed glso tncludts provlslott enabling the Ooa¥d to invite indlvlduals toserve IOT more than two term5 and beyorbd
the age of 75 in specific circumstances.
New Trustees are inducted into the workings of the chaTlty thrDugh invitatlons to V151t the Trust and the prow5ion of 3
iornprehensive britfirbg pack and by personal £oRtact wr<h other Trust￿. In addltion there are opportvnitie5 for Trustees io
¥ttend relevant tralning sern4nar5 and re¢eiYe briefings provlded by varSou5 organlsatlons.
8anlsaiional Management
ThÈch3rityTrustee5 arè legally responsIb￿fOr theoverall management andcontrol ofthe Trust and rneet os a 8oardat leastthree
times è year. The Trust's Invt5tTrefir po51cy is estatsl￿hed by its Investment Comm¥ttee and approved bv ihe Board of Trustees.
The implementation of the frust'5 Investment policy Is delegated to the appoinied Investment Manager who reports directly ro
the Board of Trustees at least on¢e è year. The Trtssteos nomination5 committee con55der the recruittneryt and rerlrement of
Trustee5 conslderingthe speciali$t $k￿lSets required within the Board.
The day40.day runnin8 of the fund raisin& and administrative activifieg ol the Trust ￿ de1e8atèd to the ExecutivÈ Olfiters,
akhough at any time iTrth¥ldttal Trustees May a15u be invL7fved with the plaTrn4n8 and implementatlon of specrfic initiatlves. The
ExecutiveOfficer5 pl ihe Charity Compryse the Foundètion Flead, the Director of Firsance and Busine55 DEvelopment and the Head
of Altsmni and Business Development. Thi5 Structure Ènsure5 tbat the Trustees have a close working relalionship with rhe School
and underst8ryLI fully its needs, enhbllng then to dlrect the charftable funds of the Trust in an appropriate mannw in actordanie
with thv charitableobjecttves.
Prfe3

THE KING'SSCHOOL WORCESTER DEVELOPMENT TRUST
ANNUAL REPORT OF THE TRu￿E£s
FOR THE YEAR ENDED 31 JULY 2024
A15k M￿ageMent
TheTrustees art wponsiblefor the mar¢a8ement of the rlsks faced by the Kin8's School Woviester Development7rust.
Governance. management, operational, linanrial and environment rlsks have beefj £onsKlered &nd the Trusiees are satisfied that
there is no material eMIJ05Lire to rlsk and ihat there are procedure5 in pl¥e io mitigate such risks. The Trustees have agreed lines
of dèle8atioTI aythority and both the Trustee5 Exe¢uti¥e Off￿er5 ere involved in the recognition of rlsk In their attNrties.
It is recggnised thai 5V5terns can only provlde reasorbable bvt not ab5DIEtte assurantÈ that major rtsks have been adeouately
mana8L¥J.
OBJECTS, AIMS AND AcnvmES
Charllable Objects
Thecharitws Oblects, 45 seiout In ItsTrL¢St Deed, areio provldefTnancSal supportto choritablepurpose$ connected wlth The ￿￿8,5
Sch)ol Worcesterorto the purF￿se& ol otberch3ritable foundations provldedihetru5tees have first CDll5ideredthe requlrements
of The ￿n￿'s School Worcester.
Publlc eenefftt Alms ond Intended Imptyrt
Withln these Objects the Tryst has as spectFlc publk aims as follows. the primaryfunction Is thtgeneratksn of fund5 from vknlch
to make signlficant bursary st¥fits to enable pupils to attend Thè King's S£hool Worcester whose *3rnllies would otherwlse be
unable to afford forthem to do so. A Secondary alm is the generation of funds to enable ihe School to undertake malor capita4
ojetts which a¥e Intended to enrlch the pupi15' experlence and learnin8 Opportunities. The Trust always consider5 the wishes of
our donors in the allocaUon of lynds between these aims.
TheTru5tee5 hwe complied with the duty in 5ectior* 17 of the Charitie5 Act 2011 tts hwe dye regard to ihe Charity Commlsslon's
published genèral and relevant sub-sector gutdantr £on¢erning the operation of the Publlc Beneflt requirement under that Act
Bnd have ￿￿*¢rtakert appropriate activltles in furtherance of the charity's alms for the Plfblic be￿efft.
StTat¢8le5 lorA¢hle¥ement of ObJectlv•5
The underlying 5traie6yfor the gÈneratloo of lund5 from whlch to pr0videon-g￿DgflnartC1èI support k to cornmuAicate the ttir
and objertNes of the Trust to all atÈas of The Kln8'5 school community and to promote 8 £ultu¥e of Idlow5hip %yith and support
forthe Schoel. The importaftce gf all se¢tor5 of the xhool comrnunity to the wgrk of the Trust is In par¢ reNe£ted by ihe result$ of
the s1￿C1f5( fundrals1ng artivltiÈ& undertaken by the 5chooYs parentg committees and alumni association. whlch are included
within the fmattclal statements a5 restrfcted funds.
Grant ma￿nI Poli£y
The 8rènt makin6 polity In respert of fund5 held by the Trust Is formulaied by the Tru5tee5. Two Èxceptions to thi5 relaie to the
funds *eld by the TruRees as custodlan trusiee5 for the School and fun(ts held w￿h1￿ The Kin¢$ Sthool Parents, Commtttees
Fund5.
The valueof funds allocated out of restricted fvnds toThe Kin¢9 school Worcester forthe pravlslon of means4e5ted bursarie5 15
r*￿eWed and a8reed on an annu31 basis bytheTrustee5, Usually durin8theAuturnn term. The extent lowh*h funés are awarded
to the School for rhe provision ol bursarles Is deterfflintd by the Trustees having regard rMIt only to the resource5 immedlate
a¥ahl3ble but a150 the long term fundin8£ommi¢ment as50Clated wlth an entry level bursary.
PaEe 4

ThIÉ KING'S SCHOOL WO*C￿ER DEVELOPMENTTRUST
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Makln8 Pollcy leontxiuedl
The allo¢atlon to lTrdivldual puplls ofthe bvr5aryfvnds provided bytheTrust 15 performed by the SEhool. The Jwards to puplls èrè
made on the bas15 01 an 45se55mÉnt of mÈ•ng (the proceduTefor wknlch 1$ tornmon to bwsaries lunded Intetftally bythe School
Itself Jndlhose supported by the TA￿[}.. th* Indlvidual's educational pote￿IldI ond, in the t•se of fund5 provided bythe Trust anv
particular conditlons that may hJve been imposeo by theori8lnal donor.
Donètlons made to the Trust in C￿nn￿t￿N wrth the May 21Kll Kin6's School Wr+￿ester Appe￿ Brochure are held fr&r the SCI￿01
by the TrL*5tees as custodion tfwrees. Actordingly these Funds are reported within the accounts of the S£hool and are disl)urse
at the discretion OF thè School's Gi)vernLFr5_The Lknnatlon$ in the ye¥ were£15612023- £156lwith £nil inclyded within (redito
in the Trust accounts at 31 ju￿ 1024.
Sln£e Aprtl 2tX15 the TrLtst has assumerl accountin8 re5pon51kn1ity lor the fund r￿51￿8 unéertaken by The King'5 School Worcester
ParÈnt5' Cornmiltee and during 21K)8 also o55umed simila¥ responsibility lor the fund ra15ing by The KinB's Trlawford Parents,
CommÈltee and during 2022 for thelund raising by The Kinl5 St Alban's Parents Soctal Group. Grants are mÈde frorn these lunds
to The Kinls Schth)l. Worcester, usually to purchase 5pecrfic items tsf equipment. )nd also to other charitie5 at the discretvjn ot
the rnEmbers of the Parents, Cornmittees.
Fundftlilr
The Trust ha5 not used profession3lfundra15er5 duringthe year butits fundraisingability is lurthered by theactlvittesof theAlumnl
and B￿lDe$S Development Office of the khool which is fegi5tered with the Fundr8lsiJiE Regulatt)r. The Tr￿st abide5 by the Code
of Fundraisin8Pfactice and its own tharitBble pledge. There have been breaches of thls codo irt theyeaf orcomplaint5 received.
The Olrettof ol Flnance anil Susiness Development oyer5eesall fundraising actlyitiesand reports on the5eiotMe B03rd of Tru5tets.
The Trust hès token all reasonable precatAsons to protect vulnerable PeO￿e and ￿her members of the publlc from ￿reasonablY
intrusive ￿ per5iStent fundralslng.
ACHIEVEMENTS AND FINANCIAL REVIEW
Achlewrnents ptrtorm¥K
RestriLted bursèryfund$ totèlling £209.27012025-£221,8761 were paSd toThe Kln8's School Woreester during theyearln Te5pect
of the funds allocated to the School by the TttAstee& for the provislon of buryary awards for the 2023n4 acadetnii year and also
In respectof theaErÉed transfer of fund5 to support pupi15 Wlth the cost ol trips and related schoDI activlries. Durlng the Summer
term 2024 the Tru5teeg renewed the level of funding commktment for 2024125 at 14.9 full fee equfjvalent bursaries 5UPPOrted
dlrectly bythe Trust and therefore at 31 ju￿ 2024 the additional Tr￿St funding Eommltment amounted to E282,727.50 In respect
of tuition fee bur5arle5 for thÈ 2024125 aEademic year, tO8ether with a further £1,0￿ for lh* provision of 8rant5 f￿ trlp5 and
8Ctivlt4e5.
Resuft$lorthe Yur
The Trustees report that the net amount Incomlng into the unrestritted fund for the perio*J was £1,40412023- d￿1¢￿ £4.5601.
Duringtheyearthe frwtsolicited and received doryations eApre551y wven to pro¥ide suppDrtfor a550rted proje￿5 connected wlth
the King'5 school Wof¢ester. The net defieit amount from the appropriater•tricted fund5, excluding any tran5fer5 between funds
and in¥es¢ment Kains, in theyeac wag £62,04412023- dellcit £137.8591 as detalled in note 13.
These results generated by the on-goln¥ work ol the Alumni and Business Devdopment Offi'ce ind the fund-ralsSn8 activitles of
the Parents, Committee5 have enabled the Trustees to Continue to provide 518nilicant support to The Kin15 Sthool Worcestkr.
During the year the combtned surplus eenerated by the three Parents, Committee5 amounted to £21.74012023 deflclt £6,745}.
Donation5 tDt411in6 £6,82212023- £30,964lwere madetotheschool towaTd5 the cost of variou5 Item5 resulting in net transfer to
the Parent5, Committees restricted funds fortheye&r of £21.74012023 deficit É6,74SI.
Page 5

THE KING'S SCHOOL WORCESTER DEVELOPMENT TRUST
Af4NUAI REPORT OF THE TRUSTEES
FOR THE YEAR ENDÉO 31 JULY 2024
R*whsfor the YeHf I￿ntInue&l
The Tr￿tee5 con51der the results for the year to be 5atlsfactor¥ and SUWK￿nI fvr¥ds are available to permit the Trust to continue
in operation in the medium teTtn.
Re$ew Poli¢y
Total reseTves at the year end were £S.444,90912023.. £5,058,407) of which £32,4221202& E31,0181 were uttrestricted and
£5.421,48712023.. £5.027,3891 were restrlcted funds (see note 131.
Thefund5 held within The King'5 Schotsl Parents, Commlttees lunds are malntalnÈd * a level strfficientto meetat le8St &9 month5
estimated fund-raising expenses. Funds rnay be held In exce55 of this arnounr when fund*oi51118 IS tar8eted towards a specific
prolKt or puFth35ewhlch has thrjt been completed ètthoye8r end date.
With the Èxteptlon of the restricted funds known as the EnduThnÉ Bursary Fund and Kildare Trust Bursary Fund, rÈseNe5 of
£838,192 ctjrrently held within the remalnSng unrestrlLted and Testrirted income funds are sufflclent to meet the on-8olng
expen5e5 and non-bur5ary tharttable funding inter¢tions of the Trust fo* the next 12 months tO8ethef with a further sum
representingthe 8pproximate renewal cost of theTrusl'seKistingbutsaryfundingcomrnitmentsforthe nextthree academk years.
Based on current levels of e¥peTrditure the Trustee5 retttgnise that onrestricted reservÈs held by the Trust are in excess of thls
policy butfeel that thls Is approprlate atthistlme and wlll rewewthe reserves policy in due course.
A lignrficantlydifferent reserwe5 policy 15 applied by the Tru5tee5 toihe Endurin8 Bursarytund. Althou8h, as a restricted fund, the
full value o* the fund may be expended, the reserves and investment policies èdopteo by the Trustee5 reflett thelr long zemi
oblecrlve of TnaintainlnB rese+yes within this fund at a level which pre5Èrve5 the full fee equlvglent value of the donètk)ns made
to thls fund In orderto 5U5tain the pFovFsion ol a Wven number of bursary awards for the foreseeable future.
In¥èstmetht Pol
The TNst Deed authorises the T￿￿tee5 to make and hold investments U51nE the ¥eneral funds of the Charlty. An In¥e5tment
Advlsor has been appolnted to assist in the lulfilrnent of thé Trusys Investment policy. The 8eneral Inve5tmeni pollcy a8reed by
the Board of Tyustees 15 based upon a totsl Investment return approach,. acceptante of a"mÈdlum- level of risk in the long term
8nd use of the FTSE All Shave Index ladjvsted to take otcount of the FTSE All Share éiv4dend yitldl as a benchmark for è5se551ng
Investment petfoM￿nCe.
FUTURÈ PLANS
The Trtsstees intend to tontlnue thelr cutrent strategies to allow the Trust to providÉ on-going finarKial 5UPPOrt to The
School bvrsary scheme and capital projett5.
ACCOUNTING AND REPQRTING RESPONSIBILITIES
The TrU￿ee9 are responsible fur p￿paring the Annual Report and financial ttatements in SCCOTdance wlth applieable law and
Unlted Kin6dom Generally Accepted A¢countln8 Practice. The Charltles Act 2011 require5 them 35 charity trustees to prepare
financl315taternents foT each flnancial year which 8lve 3 true ènd fair view of the charity's financial acti￿rIeS during the year, and
of its financial poshion at the end of the year. In pieparin8 financial statements to 8lve a true and la5r view ihe Trustee5 should
follow best practice and..
Select suitable ac£oubtlll8 policies and then appty them con515tently.
ObseTve the method5 and PTinciple5 in the CharStie$ 50RP 2019 IFRS ID21.
Make judgments and estimate5 that are feasonable ènd pnjdent.
Follow applicable ac£ounting stdndard5 and siatements of wornmenda prattlce. dlsclosing and explolnlng any
departures in thelinancial statements.
Prepare the finan£Éal statements on the 801118 ¢oncern basls unless It Is inèppropriatE ty presume that the Trust ￿11
continue In operatlon.
Pa8e 6

THE KING'S SCHOOL WORCESTER DEVELOPMENT TftUST
ANNUAL REPORT OF THE TRUSTEES
FOR ThE YEAR ENDED 31 JULY 2024
ACCOVPIFING ANO REPORT114G RESPONsIBILifiES I¢oAtlnuedl
The Trustees are re5ponslble for keepln8 accounting le￿rdS which dls¢lr)5E Wlth re&onable accvra£ythenrEancial p05ftbn of the
charity, andwhich eTra￿etherntO ascertain the financ￿1 positioo of the charityandto en5urethattheNn•ncia15tatementstomplv
wFth appllcable law and re8ulation5. They a￿ also responsible for safeÈuardin8the assets of thecharftyalld enS￿rI￿ their propel
applKation lo accorthnce with charfty law. and hence fortaking r*asonatAe $teps for the preventlon afid detection of fTawJ and
other Srre8ularltles.
Approved by the
. rd of Trustee5 of the Kin8'5 khool Development Trtssi on 13th February2025 and si6ned on its behaw by..
N Uark
thairman of the Board of TrustÈe5
Page 7

THE KING'S SCHOOL WORCESTER DEWELOPMENTTRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 20Z4
INDEPENT)fNT AucrffoR'S AEPORTTO ThE TRUSTEES OFTHE KING'S SCHOOLVIO8CEmR DEVELOPMEIITTRUST
Oplnlo
We have audited the h'nar¢cial statements of The Kifig's School Worcester t)evelopment TrLtst Ithe'charlt￿l for the year Ènded
31 July 2024 which comprlse Staternent of Financial Activities, B31an¢e Sheet, State￿.ent of Cash Flows and notes to thefinBncsal
siatements, includin8 a summary of si8nificant aciounting policies. The fI￿antial reporting frarnework thot has been applied in
their preparatlOTr 15 applicabte lèw and Unlted Kinid¢m Attountln8 Standards, including Financial Reportind standard 102 The
Frnonciol Reporting Srundurd opplicoble in the UK ond Republk of Jrelund Iunlted knngd(Im Generally Accepted Accounting
Prattlcel.
In OUT Dpinion thefinènclal staternents..
glve a true and fair view of the state of the charitvs ?ffair5 as at 31 Juty 2024. and of it5 incoffling resouFces and application
ol fe5¢)urces, for ihe ye3r then ended,.
have been proptrly prepared in accordance with United Kin8dtsm Generally Accepted Accounting Proaice,. and
have been prepared in accorESance w4th the requlrement5 01 the Charities Act 2011.
8a$h for oplAIo
We conducted ou( audlf in accordance with Intemational Standards on Audf£ing IUKI IISAS IUKII and oppll¢able law. Our
respon5ibili(ie5 under those siandard5 are furthtr descrybed irs the audrtor resronsibilltles for the audit of the financlal
st8tementS 5ectlon of our report. We sre inL*epÉndent of the £h)rlty In 3ccordan£e with the ethkal requirements that a
relevant to OL4r audit of the financial 5tatement5 in the VK, includln¥ the FRC'S Ethlcal Standard, and we ha¥e fulfllled our other
ethical re5wnslbilitle5 in accofdance with these reg￿lIe￿*￿t5. We belleve that the audit evi¢Jence we have obtained is
sufflclent and approprlate tj) provlde a basls forvur oplnlon.
CondusloH$ rnlailn8 to soin6 ¢on¢em
In ¥uditin8 the financial 5tstements, we have concluded that the trustee5' use of the iolng Concern ba51$ tsf actouTrlin¥ In the
preparation of thè finBncial staiement5 isapwopriate.
8èsed on the work we have performed, we have not Identified any IT￿ef￿al uncertwirtle5 relatin8 tg events or ¢onditlons that,
1ndividu•l+y or £dlettively, m¥y cast significant doubt on the charltv's abilfjty to continue as a goln8 concern for 8 period of at
le35t tWEfve months from whtn the flnanc181 stateffients 3re authorised for i%sue.
Our re$kxTrnslbllltles and the fe5pLwsibllitles of the trustees wlth respect to 8oirF8 concErn are described in the rdevant sections
of thSs report.
Othw Infomiatlo
The othw inform3tson comprlses the Informatlon Included in the trustées anfiual ￿Port. othè¥ than thÈflnanchil stotements and
our aLTrditorfs report thereon. The trustees aTE responsible for the other inlormgtion contained withln the athnual report. Our
opinion on the flnaThclal statements does not (Dver the other information and, extept to the extent Othe￿Se explkltly stated i
our report, we (lo not expre55 any form ol assurance tonclu5ion thefeon.
Our fe5porsibility is to read the other informatson and, in ijoing so, cot)sider whether the other inforniatioo ￿ m&teri&
inconsistent vlith the financlal statements OT our knowledge obtained In the rouise of the audit or otherwise appear$ to be
m8teri811y mis5taied. If we identlfy such material incons>stencle5 or apparent material rni5$1atements, we are required to
determlrle whether thi5 Blves rlse to a matellal misstatement in the financi#l stattments themselves. If. based on the work we
have perfomied, we cortcl￿de that there is a material mlsstotement of this other informati£￿, we aTe required to ￿POrt that
fact. WÈ have nothing to rep¢)rt thi5 re8ard.
Page 8

ThE KING'S SCHOOL WORCESTER DEVELOPMENT TRUST
FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 JULY 2024
INOEPENDepiT.AUOITOR'S RÉPOATYOTHETrusfEES OF7HE KING'SSCNOOLWORCEsfER DEVELOPME14TTrUST Iconlinuedl
Matterson T*4hl¢h wè ate requlred to report byeM¢emlon
W• hève nothlng to report in respett of the fdlowlng matters in relation to whi¢fv th2 Cha¥itie5 IA£coL4nts avd Reports
Regulatlons 2(WJ8 require us to report to you rf, in oUropln￿n.-
the inf0m￿lI0￿ given in the finanoal statements is inconsistent any materlal respect wlth ihetrusiees. report; or
sufflcleTht accounting reiurd5 have not been kepl., or
the finanoal stètements are not in agrtemenl vjith iheauountlng records,. or
we have not tecelved all the Informatlon and explan8tions we requlre forour au4J¢t.
Re$ponslbll*tt5 oltrustees
As explained more lully in the irusiee$' re5ponsibilitles stalemeat set on p4e 6. the trustee5 are rwonslble for the
PTeP3railon of financlal statement5 whith give è tr￿ and fair wew, and for such Snternal control as the ttustee5 determiTre is
netessary to enèble the preparation of financlal statements rhat ave free from material mi55tatemenL whethor due to fraud or
error.
In preparing the financial stat¢meThts, the trustees are res￿nsIble for a55e5sin8 the charlty's ability to contlnue as a ooi
Eoncern. d1￿109￿ng, as applicable, mBtters rel*ed to 8oin8 concern and u51Ts8 the 8oin8 conierry bèsis ol a£cDUntinR wile55 the
trustees elihe¥ inteDdto liquidate the charity or to cease operatk)ns. or have no reallsEK alternative but todo so.
Awlltoes MsponsJblSti4sforthe audlt of the fina￿la1 51¥lements
We have been 3ppointed as 8uditor undtr séttlon 144of the Charitles kt 2011 and report in accordance wtth regulatlons rnade
under secrion 154 of that Att.
Our are to obtaln rea50n3ble assurance al)ovt whether the financial statements a5 a wholè are free from material
mlsstatement. whether due to Iral￿ or enor, to Issue afi auditoWs report that Indudes our orynion. Aea5(bnable assurance is
a hiah level of issuranc£ but is not a Euarantee that an audlt conducted In accordance with ISA5 IUKI will always detert a
rnaterial miMtateFnent when it exist5. Misslatemenis a¥i5e from fraud or error anit are consldered material if, indSvidually or
in the aggre8ate, thy could reasottabty bt expected to inlluen£e the eiongrnic declslons of u5¥5 taken on the basi5 of these
flnanc+al statelnents.
Irreg￿lOritIeS, includln8 fraud, are instances of non<ornpliance with laws ané regulations. We de5i8n procedures in line with our
responsibilities, OirtlinEd above, to deteet material misstaremeotg Sn respect of Srregulafltles, including ffaud.
However, 11 ls the primary fespon5i141ity ot mana8ernent, wth the over518ht of those charged with 8overnznce, to ensure that
the entlty's oper*stins are conducted ID accordante with the prov15ions of law5 and re8ulotlons and for the Pfwention and
dptectlon of f¥4ud.
In identifylng atid 855e55in8 risksof materièl rnisstaiemeni In respert of irregularft¢s. In¢ludin8 frdud. we h8ve'.
obtained an understanéin8 of the nature of the industry and sector, IncludlnB the leKal and re8ulatory framework that the
company operates in and how the company Is towplyin8 Wlth the lesal ènd regulatory framework,. ènd
Inqulred of mana8emenL and those charged with 8overn3nce. aiKJUt their own identification ané è$5essment of the rlsks of
rrp4ularitle5. includingany known actual. suspected oralleged instances of Iraud.
Page 9

THE KING'S SCHOOL WORCESTER DEVELOPMENT TRUST
FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
INDEpeNDEPll AUDITOR'S REPOftTTO TrIE T¥¢U571ES OFTHE WI4G'5 SCHOOL WORCESTER I)EVELOPMENfTRUST
(Cont1n￿ed)
A￿11101,$ respo•$lbllttlèsfoi tht audlt olthe finonckl st¥e￿n￿ Icoftiinyedl
As a re5uk of these procedures we conslder the rnost siEDifi¢ant laws and regulation5 that have ¥ diwt impact M the finan£ial
Stat￿entS arethe Charitles SORP (FR5 1021'A(countin8 and ReptsrtiThg by Charitie5.. Statement of
Recommended Practice applicable to charities preparing their ac£ount5 accordance ￿th the Finan£lal Reportlng
Standard applicable rn the UK and Repub15c of Irelènd IFRS 1021 lelfectwe l January 20195. Flnancial lieportin8
StandaTd 102 'The Frnancial ReporrSng Staadard ap￿1(able In the IJX and Republic of I￿rand, and the Charltie5 Act 2011 land
Felated legislatFonl.
We perforTned audit procedures to detect nonoompliances which may havÈ a material impact or* the financial siatements.
which Incl￿ded reviewin8 thef1nan(￿al statement éistlDSUTes.
The charity makes glft aid claims on the donations It y￿e1Ve5. We have reviewed 8 sample of dOfiatI￿s recel¥ed in the year and
checked that gift aid is i¥nly being rl3lmed on donations wherE the ori8inal donor has given permission for such (lalms io be
mode.
We have reviewed a sample of donatlons recelved In the yeaf and revlewed relating corr¥pondence betweEI) the £haTll¥ and
thé donDr to confirm that these donations have been allocated to an appropriate I*d￿ld￿al restrKted fund. We have also
reviewed the restrlcted fund allocation ol a sample of pèyrnents made by the chaTity In ihe year. Because of the inherent
Imitatltsns of an audiL there 15 a risk that we wll,, not detert 811 Irregularities includin8 those leadln8 to ) materlal misstatement
the finaE)ti81 statements or non-iompliance with Te8ulation. Thls risk increases the more that compliance with a law
regulation 15 removed from the events and tfansartlons relle¢ted In the tlnancial staternents, as we will be less likdy to become
8ware of instaEKÈS of nffi-cornpliance. The ri&k is also 6reater re8?rdin8 irregularV(ie5 Occurri￿ due to fraud rather than error, as
fraud Invol¥es tntentional concealment forEery, tollusion, o¥nission or mjsrepresentation.
A further des£rtption of our responsibilitie5 15 èv8il8ble on thè FRC'S We￿￿e at.. ww
This de5crfptKIN foTms part Df our audito<s report.
Use of our rep(*l
This report 1$ made 501ely to Ihe £haritrf5 trustee5, as a bodyi in ac<ordanre with Part 4 of the Chariti* (Accounts and Report51
Re8Utathns 2008. Our aud5t work has beeTr untlertaken so that we might state to the charftY'S trustees those rnatterg we are
rewired to state to them in a• auditof s report and for no gther purpose. To the fullest extent perrnltted by law, we do t)¢)t
accept or assume re5pon51bllky to anyone other than the charlty and the charit*s trustees as a body, for our oudit work. for thls
rewrt. Dr for the opin5ons we have formed.
RKh6rds Sandy Auilll
Thornloe House
25 8arbounÈ R03d
Worcester
Worcestershire
WRI IRU
rvir.es Limited (Statutory Audi£orl'
Rkhords SundyAudit Servi£es Limited ts eliglble tooctts5 on oudltor in term5 ofse(tson 1212 ofthe Componie5 Aci 2t￿6.
Date....QA..a&.:.ZS...,.
Page 10

THE KING'S SCHOOL WORCEsfER DEVELOPMENT TRUST
FINANCIAL STATEMEfus FOR ThEYEAR ENDED 31 JULY 2024
STATEMENf OF FINAJ4CIALAcfNITIES
Re5trkted Funds >
Kln8's khoDI
Parant5'
Yewtf*31
Unrestrlcted Committee Kin8'5 khool
July1014
Fvnds
Funds
OtheT Funds fDtsl Fund5
Ye8rio 31
Juty 2023
Total Funds
(Note 131
INotÈ 131
InGome and endowmer
from..
Oonatlons and legacles
Othertfadir* attlwtles
6,655
107.918
U4.573
2,230
7&854
73,478
Bank Interest
46Y
ITJ
16.957
iY,599
580
InV￿MentS
a4,348
Totsl
9,354
79.027
159.2
247.6114
205.396
Empendllureon:
R•151￿ funds
2,79YI
9),465
30.578
84833
80,845
Charltable aCtI￿tr¢S
S.160
6,822
212.429
214,411
266.970
Total
7,950
5?.287
2431XJ7
3M244
347,815
Gainsl Ilts%se5lon inve5trnent
assets
447,142
Net in¢omel1eMpend￿llr*1
2L7
363,35
386,502
44.096
rnovemenl In I￿rtI
21,740
363,358
Total fvnds brou6ht IoFward
31.018
27,465
4.999,924
5W58A07
5.014.3Jl
Total l¥Mds uyyled I0￿81d
32,422
49205
5.363,2V
SA44,909
5.058.407
The notes on pages 14to 19 form pan otthese ftnahcial st￿eMents.
Page 11

THE KING'S SCHOOL WORCESTER DEVELOPMENT TRUST
FINANQAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
BALANCE SHeEr
Unre5trKted
Fund5
Restricted
Fund5
31 Juty Zoid
rotsl
31 july 2023
Ngle
4,483,587
4,483J87
4,49#,747
Current asS•t5
Stock
ith
4,369
4J69
4.653
gebtgrs
470
18.386
18*56
9,163
Cash at bank
31.783
914,482
9162£5
55Z773
Totsl mrrtrit a55et5
36,622
932.868
969.490
564589
Credltor5: fainni due
w￿h&fi one ye
12.
4,2LVJ
&929
Net current0554ts
3l412
929.1(10
96L522
559.660
Total net assets
31422
5AIIN87
5.444,909
SDSB.407
Funds olthe Charfty
Rèstricted Income Funds
5A12.487
5A12A87
5,027.389
Unre5trlaed Ftsnds
32.422
31.018
Total Funds
32,422
5,412,487
5044.909
5,058,407
Approved by the Trustees 13th February 2025 and s[￿ed ontheir beh?If
Clark
Chairm3n of Board of Tnjstees
The note5 On Pa8e5 14 to 19 form part of these finJtsci¥l statement5
12

THE KING'S SCHOOL WOIICESTER DEVELOPMENT TRUST
RNANCIAL STATeMENTS Foft THEYEAR ENOED 31 JULY 2024
5TATEMENTOFU5M FLOWS
31 Jufy1024
Totol
31 Jufy2023
Totul
let Ilowsfrom operthi 3¢ty41UES
172.7781
1138.4MS1
CaBh flowsfrom Irr¥estlng a¢lè•ltles:
PIDceeds trom sale of In¥25tments
578270
1112.orioi
Pwchose of investments
I925,0￿1>
Net cash provlded trylu5ed In) Invertihg actl¥lll•$
466.270
19ts,iirAJi
Clr4ny hJ¢ash and cèsh equ￿•110•5 In the reptytkn8 PErkMI
J93O92
I&￿.1451
Cash and cash equlvalEnts at thebeglnnln8 i¥fthe rerrttrrtsnK perlod
552.773
1,616,218
(ash and fash equl¥*enls at the eTMI of the roporting perfod
946,266
SV,773
RECONCIUA7IIYI OF NETINCIIME TONÉf(ASH FLOW FR<M41 OPERATING AcllviTIES
Net Inwneforthe repwtlng period la5 per stitement of finarKlal
aCt[￿tIes}
lustmenlsfor:
IGalnsllossÈs on investments
liN￿trnent rnanaierchar8e$ deducled trom tnvestryteDts
386,502
44.LP36
1447,1421
1186.5151
30.579
28.546
Dividends, Int￿*t and other incomefrom ih¥estment5
134.347)
121,È181
I1￿￿9$elIde£reoSt In st(x*s
Ilncrea5el/decrease In ￿e￿Or5
214
2.909
19.6931
113,817
Increaselldecrea5el In creditws
1.039
1119,4Pd)I
171,7781
Note-. I￿VeSt￿ent m?nager charges a￿1 non cash Item deducied from listed Investment ph)rtfoliD of £30,S79
12023.. £28.5461
Page 13

THE KING'S SCHOOL WORCESTER DEVELOPMENY TRUST
FINANCIAL STATEMENTS FOR THE YEAA ENDEO 31 JULY 2024
MOTES TOThE FINANCWL STATEPIIENT5
Acrountthz polldes
1.1 Oaslsof OC¢tyJnilns
The KlnR'5 5thool Worcester DevebpmentTrust Is a reglstwed unkncorP)ratedtharityre￿1￿edbYtheChar
Commi55Toners for England arKJ Wales. Th* address of re815tt￿ office is 8iveA in the charrt¥ Infoimatlw pa8e 2 of
these flnanclal 5taternent£. The TratU￿ o(the charltV5 aperatlOll5 wlncts)al acthtiiies are set out In the TTllStees'
Report.
The charity£onstlttytes a public benefft enlWa5 defined fyFftS 102. The flnancial ststernents have been prepared In
acCordancewthAcc￿ntirn8 and AepDiting byCharffje5'. St4teMÉht of Recomrnended Prattice typllc4Wetocharities
prewring thelr 4cccunts In atcord8nos•tth the Flnandal Aeportln8 Stay￿4rd I?￿[cable Inthe UKand Republic ol Ir818Th1
IFRS 1021 issued In October 2019, th@ Flnanclal REportsniStand3rd applica￿& In thp Unlted ￿￿d0M aDd Republicof
Irdattd IFRS 1021. the Charltle5A¢t 2011 and UK fjener4llyAc£epted AetouminE PractSce.
The flnanoal 5trternents have bÈen prepared tOg￿e è'true fAIrf View and have departed trom theCh•rities IAccountS
and Reportsl RÈ8ulation$ 2008 onlyto the eitent requwed to pro¥lde•'truè aNI falrview,. Thisdeparture has invol¥ed
follLwln%the A¢CO￿n￿nE RepoittnB bych¥fI￿eS.-stat¢rnertt of Recornrnended Pratvce applxable to£haritiE5 preparlng
tbeir accotsnts In accttrdaneè withthe Fin￿¢￿￿1 Reportin8 Standard aypllcèble in the U&and Republicof Ireland IFRS 102-
ellective 113nuary 20191. Yatherthan the At£tyJThtr￿8Dd Reporttni byCharitie5." Starèmentof R¢cDrrtmEndÈd Pracdce
eftethe from l Aprll 2005 has 51nte be￿ wAtlOrawn.
The fEnancial staternents are prepared on è8dns corKern baJis under+he historical c05t carwtntion, modlfted to Ir￿l￿de
certain Items atfalrvalue. ThethnanLi*I st8tÈments are pfesented In deAlnKwhleh Is ihe I￿￿tIonal currEnt¥¢)f the charlty
and Tcundediothe RearÈst £1.
ThÈs48nlficant accountini pollcie5 applled in the preparation ofthe5efinJncl315tatements xe SettXrtbe￿. T￿se
policies have been con51stenlly applied to all years presented unlessotherwlse statod.
la Inromir¥ Resu￿r￿S
These ar* irtclthled Snthe Statetnent of Fift3nc*al Activities ISOFAI ¥¥hen'.
the tharlty become5 pn¥tled to the r¢s¢yrces
the Trustees ar2vlrtuaNycertwThtheywill re¢ey4e the reS￿r￿S
the rnonetsryvalue can be moasured suffldÈnt rellabllity
Grants donation% only included in the SoFAwhen thethark¥hasMrKorditional ent￿eM￿r to the resourEe5.
Lt8a(les are IndudÉd whefithe T¢u5t is athsed bythe personal represèntative of an est•te thalpay￿ntWdI be ftsade or
property tran51erred anfl the amount iwolwed can be quantifiÈd wlth ￿sOnable certalnty-
lthcomÈ from tr3ding4ctivltles i¢)cluJes kncome e•med trom fvndra151n8eveftt&and me¥cN4ndlse salÈs tQ 14T5elund&for
the char￿. Tradin8 incorne frcth lundr3islng eventatte1￿ance 15 recO8n15edw￿n such ewents have tJcLurfÈd.TfadlrYa
Income frorn the sale of 8ood5 Is rec08ll15ed the Eoods hbve been deli¥er*d tDthè buyer.
WI￿ In¢omTng resOU￿e5 ha¥e reSatÈd Éxpendrtu￿ las %%ith fiJndrni%1￿I Ihe anrom1￿ reso*trces and rekted Expendlture
art reported Bross In Y)e 5oF
1.3 TIN Re¢l4ms th DonatltyisJrtd Glfts
Incomlngresourcesfrom tax reclalm5 Bre Induded Inthe SUFA at the same as tkne Srftto ¥•h*hthey relatÈ.
IA Investiiient Incmie
Thl$1s included In the KCOUtttswhen recefvable.
1.5 U8bHlty 1wrA￿On
UabUSfle$ 4r¢ reco8nised as soanas thereisa legal wttsnstruct￿ett￿l1èt￿]n tommltty"n8the¢harrty to paY(￿reSOurte$.
1.6 Governance ro5ts
6overnarke tosts Incltsdethe r05t5 of the external avdlt ofthèstètthory acrourts, tht costsofTru5tees meetknas •ndthe
tosts of any legal advlceto TFU5tee5 orl 8ovemance or tonsfjtirtional matters.
1.7 tsmtswlth performan¢*wNditlth
Where lht tharkty wve5 a Erint￿th c¢nditStins lor its pawment bElng a 5pecffic knl of %er¥lre L*OUtput ￿ be pl￿dEd.
such yarlts ale only reco8ni5ed In the SoFAcnce th&Tecipieniofzhe grant has piovided 5ervke4)routpJL
1.1 fjrafttspayab1•￿t￿UI put￿mOn￿ corylliborts
These are only ¥eco8nlsed In the aiiuuntswhen a ¢ommitment ￿45 been made artdthefe are rn Condit￿￿51￿ bÈmet
rel*ln8to the irantwknich remain In thecontrol otthtchthty.
Pay 14

THE KING'SSCHOOLWORCESTERDEVELOPMÈNTTrusr
FINA14CIAI STATEMENTS FOR THE YEAR ENDEO 31 IULY 2024
NOTES foTHE F114ANUALSTATEMEfiTS
l A<tryAn￿P¢ll¢l￿ IcThrtinuedl
IS ValutAddEd Tax
y41ve Added T8¥1s not retoveFo￿e bythe charlty. Ind •$5uch15 Indu&ed Ih the relewnt Costsln thestatemertol
Flnartlal Acti￿tR5.
i.W Iw4¢51rnent ￿ets
Ihve5trnent 155ets IITKludlnÉ current asset Itive51mÈntsl bré Included lftthe accounts at market vèlue. All chahges
In ¥altye. wl*ttteror not E0lls￿, arè rEPDrted in the°￿In5 and ID55e5 on inve5tmert e55ets settion of the
5taternent of Fln8nclal Activit￿5. The flmed Osset *nVesw￿rt portfollo ha5 beÉh atcounted for 85 a slngle
In¥e5tynent Iratherth4n accountfor eath ifidNldual Invesbnent wlthin the portfL%lb) as a sep6f2te inve5vnenil.
i.li StoEk
Slock5 arestated at the lower of tOSt and ￿ty￿ated sellingprlce lesstoststg compkn antl sejl. C05t Includes all Eosts ol
purtha5e, ¢0515 olconverslon ènd other c05ts1nctsr￿d In briryin8 Sto£kto Its présent IDcaion and tondition. C05t Is
Calc￿￿ted using the ftrst-ln. nrst-ourformula. Provislon Is madÉ for damaEed, obsolett ahd 5￿W.Mo￿tyl stack where
47pproprlate.
la2 Golly Cuntem
Th? flnafitlal ststements have been PTeptt￿ a got￿ b051$ 0$ the trustees beliEve that no material
uncertaintie5 exigt. The trustee5 have con5￿eRd the level offund5 htby Bnd the exptcled level of incvrne and tXptntt￿ra
fijr 12 rnonths Irom authori5ill&th95e finèncial statements. The bud8etffl income and exwnditure Is s￿C￿￿tW￿h the
levEI of reSe￿e5f01 the charity to be able tc continuE a$ 6 solngconcern.
L13 FlnHncl•l Instruments
asicfiThanc￿l instrumentscorw*rist debtors and cred4tors whlth are held at setdernentv?Ive, b8nk dtposits whlch w*
Id at Cash value and invest￿￿ntsw￿[Ch are hekf4t fairvzlye.
L14 Fun&Ar¢¢urfkng
Unrestricted lunds c4r, be used kna¢¢troante WItht￿ charItab￿￿br￿l￿estt1the d&$C￿￿n ofthe Trustees. Restrftted
fitnds oDly be used ￿rtItu1#rre5trltted purwseswltliin the oblect*es of ihe tharity. Restrlttitsns a¥Sse when
specthed bythe donoror when funds are raised lor parttular restrScted purposes. FurthEr expl&n411oTrof the nawre afid
purpose of each fund Is 1￿c￿ded in the ￿teSt￿thefIn￿￿lal stateTh¥ts.
1.15 Oon•ted Gwds
Donated recelved forthÈ purpose of LElng Sold at aurt5on are not retO8nised ott ¥eceipt. Instead. when th¢ IODd5
re sold thè f4Jll value rECEThted Is recognised 35 trodSn8 Income.
Ye•rto
31 JuhT2024
Yearto
31 Jyly2923
•kn•tysts ofin¢ome •nd
Donatlons ènd le8at1È5
Donatiorss and le84de5from indl%Ydtsa¥s
Donation Irc*m Swop Shop
iii,
2.945
114,573
105.227
Other tradinc 8£t￿#S
ne's School pa￿ts, Commltteesfund rai5ingevents' proceeds
FU￿-raIsItt8 merrh•ndl$e salE5
78,854
2.230
81,1184
72,370
208
72,478
Investments
Income from Investment a$5ets
Bonk interest Tecelvable
Other Snterest retEive4blt
21,818
4,653
379
17,599
51.947
26.850
247,6ts1
20S.396
Pa£e 15

THE KINfj'5 SCHOOL WORCESTER DEVELOPMENT TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
NQTES TO THE FINANCIAL STATEMENTS
Anafysis of ewnditure
2014
2023
Ra45ing funds
Bank and fundraising websr(e ch3f8e5
Fund rilsing OV merchandtSln8 COSIS
Investrnent Man8gerfees
Klng's School Parents, ComTriittee event cost5
IA65
1.325
3Q,5X
5Q465
1,139
2,909
28,546
48,251
80.845
Charitable actiwtie5
Grants to The ￿n6's Schod Wortesrer
King's School Parents, Cornmittee5 Other tharitable 8rènts
Governance costs
214419
6.811
5,160
224,411
308,244
231.552
30,964
4,454
266,9?0
347,815
rEEt fundraising £05ts rel8ting tr) me¥chandi5ing ané Parent Committee actlvitles are 5niuired by the Trust bur
the costs of the Four¥dation DevelopmenT Office, whl£h h3vethe ptstentlal to beThefitfundr8isitr)g activi<ie5, hove
beèn bome by The King's Sthool Worcester.
Aemutteratlon of key managErnent personnel
The Trust ¢oTrwder5 Its key management peisonnel c¢)mpr15etheTrustees and the Dlrertoy ol The King'5 School
Worcester Foundation Development Office who Llo not recelve any reu￿neral10n op benefTts from the Trust. Theyt
wtre no staff employed bythe TTU5t in the year12023.. NIII
Trustee5' expenses
No PoyrnE￿ts were madeto Trustees d¢Jilne the peTiod nor io thlrd partSes fore¥pense5 incurred tryTrustees.
Fi¢lated party
D(bn4tlBns totallin8 £27.43812O23.. £27.6871 were njade to theyrust by 2Trustee512023-.31. These drmatlons are to
material Te5tritted funds that include donatk)ns from rntsltiple dlfferent individuals and the triJ5tees' £DntributwJTrs
represeDt a rnInOr￿Y of the tut*l restritted lurtdin8 received.
Details of t¥ansartlQn5 WithThe Klng's S£hool Worcester are set rrtjt In the n￿e$. There we no other related party
tran5artions12023.. Nill.
Fees for Audlt
2024
2023
Audiiors, fee
4,160
3.840
Grarf makl
Gwants:Total Arnounis
2024
2023
Purpose for which grants Made:
8ursarie5for pupils3ttending Klng's sd￿01 Worcester
Other charitable 5UPPOrt for Kift8'$ School Worrester
P?￿nts, Comrnltte£s 5UPPOrt for King, Sth(%ol worcester
205011
221876
9.676
6.822
262 516
No 8c•rrts made b¥ the Trust were paid dlrertl¥ to Individua15durin8the year12023- nlll but instead were pald t
Intermedlary charitable institutlons. I￿ the cJse of the bursariuawarded to pupi15 attendir*8 The Kin8's school
Worcester, a number o! full lee equivaknt bursaries were paid to the S¢hool, wbkh all￿81ed thefynds to Indlvldyal
pupilson the b3515 of educational abH￿V and paTertial mean51subject to any restrtttiQn5 imPE>sed bythe donorl.
Page 16

THEKING'S SCHOOL WORCESTER IXVELOPMENTTRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY IOZ4
t40TESTOThE F114A140ALSTAIEMENTS
g Flxed A$5*t l*veJtmerfi
2024
2023
In¥estments held primèrily to provldE aft In¥￿trne￿t return for the tharity.
Carrylng value Imar*et valuel at beEinnini of year
dd- AéditlL¥)sto knvestments at cost
Les5'. Uspos115 at c&rryiniwalue
Investment Income reCeI￿d
In¥estment M8n4Éerchar8eS
A41dldeduct.' Net 8ainlllos51 on revaluatlo
Carrying va5ue Imafket valuel at end of year
4WJ8,747
1123100
1578.2701
3,393.560
925,LNKS
21018
128.5461
186,515
4,498.747
130.S80
447.142
4,483387
At the year end £4,449.51912023.. £3,959.9371 Df this tor•1 value was in¥ested in UK opeTr ended Investment cDrnpanles
and unit trusts and £33,86812023.' £538,8101 was held #s ) tssh dep)slt.
10 stock
20
2023
Oranded ioods held lor resaleltradlng actltyftles
4,369
Dufln8 theyear 5tpck Imptirment provisions tolalling NIL12023.. £2,302) werecharged tothe Statement of FinanciBI
Actlvltle5
4,653
11 Debtors
2024
2023
Ta% reclaimableon Gift Aid donatlons
Owed to Parents (ommkttees
Oue from Klng's School Worcoster Activ+tth Ltd
Prepa￿entS ané ￿tyued in£ome
othEritEbtors
291
1.082
173
15A90
2.698
1&856
7,453
22
9,163
12 Credltots: athounts frdllifv8 duewlthln oneyear
2024
2023
Management expenst5 ènd professlonal fee5
ue to ￿n8'S Sthool Worcestw AttivY(ie5 Lid
Duèto King's 5thool WortE5ter
Other uediiors
4.2
3,201
567
Pège 17

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p*Js

THEXtN¢SSCHO￿￿¢X(EsTEA DEVELOPMENTTRUST
FItIANaALSTATEME14TS YIIÉ YEAR ÉNIIEO JIJVIV 21)24
NOIE5TOINE FINANQAL STATEME￿($
A•A1¢t￿ Jntr*M FLwds:
Fund Neme
Puvp04*
Kiry's Sthod LlbrarytwEXCd￿n¢* FL*d
i¢lry's School Endurtn8Btsr5ary FUNI
Klry'ssthool Fd1)w$h￿ Bursary Fund
#Ir￿,5 Schoolm Steveffts 8ur$4ry fund
%lldare Bursw¥ Ftsnd
n¥'s SchooFAnfiu￿ Ftynd
¥ing'skhool SPACE Fund
Peterlddon ttursaryF￿d
arK*s Blund•ll Bw5ary Fund
john Plmtey8ur$8ry fund
Parent5, Corntnittee Funds
Llkr3lnianFund
Kin85 Che55 Fund
Kité's SthDrA knItClub Fund
Generil Fvftd
Germon StuthesAward
FktinKtststo*ftew libroryfadVtJv5
ou1sar￿sf￿ pupil$ attendinithe 5th￿1
uvsarksfcrpupi15 atten￿ingthE Sthoul
BursarfÈ5fwpupi15 èttEndinithe Scho
uYsar*i knpupi15 atten￿1n&the SEho
Equipmentour¢h•ses
OèvtlDpwJertofthe spDrts￿d perftymln1￿ts
Byrsirie5fw pupils attet)dlnE the Sthool
BuT51rle51or pupils attendlng the School
8ursariesfor pup51s attend￿gthe Sthoul
£Iuipmerkt wrch3ses
UIWiÈslorpuplls attÈNJin¥theSchool
Tosupportthe plwng of chess at the School
E4VIPrnEntpurchas
Unre5trictedpurthas¥s
TD SUPPUrt Ihe stu* of German at Schoc4
5vffidentresourtes are held 4TranapproprLpttfomitoenableeathfund to be appled In accordance wlth *ny resty
14
Comp•iatl¥e Statement of HkWd?1A¢t￿t[*￿-￿*rtfj al￿1¥1018
¢ Restri¢tedFund5 >
KIN8'$5rhool
Vewto 31
UnTestrfcted Cornmittee Kln8'sSchool JvE¥ 2023
Funds
Fund5
Other Funds Tolal F¥nd•
IrK¢)miw4Nltndrywment5 frnm:
DoftatiQn5 and leEacle5
Other tradlng attMt*s
Ifbve5trnents
Totsl
3,354
208
lQ2,714
72.270
nA78
I6￿50
lQ5.196
26.27Q
128.984
3,942
72AYO
Exp•nththte on:
Ralsing funds
Cbartsble attfvlt*s
IB,2SI
28,546
4,4S4
8,502
30,964
79.115
.231.552
260,098
Z56,970
147AIS
alnsl Ilossesl on INestmenta55etS
186,515
186.515
NrtlhK(wellexpenditurel
Trnn5fers lunds
N•t mo¥emwt ithfvthdy
Totalfund5 bToyht forward
Totalfvnds G•Yrfed furywrd
14,5601
16,7451
55.401
44m6
14,5601
35.578
31,018
6.7451
34,210
27,465
55,401
4,944,523
4.999,924
5,014,311
5.OS8A07
È19