Lavant House School Educational Trust - Charities report - 22.2

REGISTERED COMPANY NUMBER: 00887413 (England and Wales)

REGISTERED CHARITY NUMBER: 307372

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FOR

LAVANT HOUSE SCHOOL EDUCATIONAL

TRUST LIMITED

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

11

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of 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 went into Administration on 18 July 2016. The Trustees can now confirm that the Administration ended on 18 January 2019.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00887413 (England and Wales)

Registered Charity number

307372

Registered office

Stornoway House

Cott Lane

Burley

Ringwood

Hampshire

BH24 4BB

Trustees

Mrs J A Buckley Teacher

Mrs L M Butt Head Mistress

Mr T Green Retired Electronics Engineer

Mrs H R Herson Teacher

Mrs R M Kamaryc Principal Of School

Mr R H Malcolm-Green Civil Engineer

Mr A R Malcolm-Green Director

Company Secretary

Mrs H R Herson

Independent Examiner

Gary D Elson, FCCA

Chartered Association of Certified Accountants

Elson Geaves Accountants

Chartered Certified Accountants

12 Haviland Road

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7RG

Approved by order of the board of trustees on 12 December 2022 and signed on its behalf by:

Mr R H Malcolm-Green - Trustee

Independent examiner's report to the trustees of Lavant House School Educational Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Gary D Elson, FCCA

Chartered Association of Certified Accountants

Elson Geaves Accountants

Chartered Certified Accountants

12 Haviland Road

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7RG

12 December 2022

2022

2021

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Investment income

2

(35,738

)

249,263

Other income

1,950

11,512

Total

(33,788

)

260,775

EXPENDITURE ON

Charitable activities

Grants & Donations

49,640

15,611

Support Costs

1,711

3,062

Total

51,351

18,673

NET INCOME/(EXPENDITURE)

(85,139

)

242,102

RECONCILIATION OF FUNDS

Total funds brought forward

1,990,509

1,748,407

TOTAL FUNDS CARRIED FORWARD

1,905,370

1,990,509

2022

2021

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

5

1,850,844

1,886,777

CURRENT ASSETS

Cash at bank

59,578

104,452

CREDITORS

Amounts falling due within one year

6

(5,052

)

(720

)

NET CURRENT ASSETS

54,526

103,732

TOTAL ASSETS LESS CURRENT LIABILITIES

1,905,370

1,990,509

NET ASSETS

1,905,370

1,990,509

FUNDS

7

Unrestricted funds

1,905,370

1,990,509

TOTAL FUNDS

1,905,370

1,990,509

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2022 and were signed on its behalf by:

Mr R H Malcolm-Green - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	INVESTMENT INCOME

2022

2021

£

£

Investment Gains (Losses)

(35,933

)

249,263

Deposit account interest

195

-

(35,738

)

249,263

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Investment income

249,263

Other income

11,512

Total

260,775

EXPENDITURE ON

Charitable activities

Grants & Donations

15,611

Support Costs

3,062

Total

18,673

NET INCOME

242,102

RECONCILIATION OF FUNDS

Total funds brought forward

1,748,407

TOTAL FUNDS CARRIED FORWARD

1,990,509

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 September 2021 and 31 August 2022

1,618,002

PROVISIONS

At 1 September 2021

(268,775

)

Revaluation adjustments

35,933

At 31 August 2022

(232,842

)

NET BOOK VALUE

At 31 August 2022

1,850,844

At 31 August 2021

1,886,777

There were no investment assets outside the UK.

Cost or valuation at 31 August 2022 is represented by:

Listed

investments

£

Cost

1,618,002

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Accrued Accountancy & Donation

5,052

720

7.	MOVEMENT IN FUNDS

Net

movement

At

At 1/9/21

in funds

31/8/22

£

£

£

Unrestricted funds

General fund

1,990,509

(85,139

)

1,905,370

TOTAL FUNDS

1,990,509

(85,139

)

1,905,370

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

(33,788

)

(51,351

)

(85,139

)

TOTAL FUNDS

(33,788

)

(51,351

)

(85,139

)

Comparatives for movement in funds

Net

movement

At

At 1/9/20

in funds

31/8/21

£

£

£

Unrestricted funds

General fund

1,748,407

242,102

1,990,509

TOTAL FUNDS

1,748,407

242,102

1,990,509

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

260,775

(18,673

)

242,102

TOTAL FUNDS

260,775

(18,673

)

242,102

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1/9/20

in funds

31/8/22

£

£

£

Unrestricted funds

General fund

1,748,407

156,963

1,905,370

TOTAL FUNDS

1,748,407

156,963

1,905,370

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

226,987

(70,024

)

156,963

TOTAL FUNDS

226,987

(70,024

)

156,963

8.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2022.