Registered number: 02666998
Charlty number. 1007348
DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
GOVERNORS. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Detalls of the Charity and its Advisers
Governors. Report
Governors. Responsibilities Statement
Independent Auditors. Report on the Financial Statements
9-11
Statement of Financial Activities
12
Balance Sheet
13
Statement of Cash Flows
14
Notes to the Financial Statements
15-30

DERBY HIGH SCHOOL TRUST
(A Company Llmited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS ADVISERS
FOR THE YEAR ENDED 31 JULY 2024
Foundatlon Governors Mr M R Hall DL Hon D. Univ FCA FCMA CGMA FCT
Ms H Barton Bsc CEng FRAeS FIMA
Mrs F M K Apthorpe
Mrs A K Penny. Chair
Dr B Lad CEng FIMechE
DrARRao
Miss S Chittim
Miss R E Stojak
Mrs N Read
Mrs D Wareing (resigned 23 November 2023)
Co•OPted Governors
Company registered
number
02666998
Charity registered
number
1007348
Registered office
Hillsway
Littleover
Derby
DE23 3DT
Bursar and Company
Secretary
Mrs M Mitchell ACA, BA (Hons)
Head
Mrs A Chapman MA, BA (Hons)
Independent auditors
Bates Weston Audit Limited
statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE12RJ
Bankers
Barclays Bank PLC
Level 4, 1 Chapel Quarter
Maid Marian Way
Nottingham
NG16HQ
Solicitors
Flint Bishop LLP
st. Michael's Court
st. Michael's Lane
Derby
DEI 3HQ
Page 1

DERBY HIGH SCHOOL TRUST
(A Company Llmited by Guarantee)
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 JULY 2024
The Governors present their annual report (including the strategic report) together with the audited financial
statements for the year from 1 Augusl 2023 to 31 July 2024. The Governors confirm that the Annual Report and
financial statements of the company comply with the current statutory requirements, the requirements of the
companws governing document and the provisions of the Stalement of Recommended Practice (SORP),
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland {FRS 102).
OBJECTIVES AND ACTIVITIES
Pollcies and objectives
The objective of the Charity will be to progressively implement and provide educational facilities for the
advancement of co-education across the whole school for the children in the Derbyshirelstaffordshire area.
Strategies for achieving objectives
The School's facililies offer children education and instruction in various subjects over a broad spectrum of the
curriculum, including academic. Classical, scientific, technical and commercial studies.
Activities for achieving objectives
To achieve this, the School offers co-education for children from ages 3 to 18.
Achievements and performance
Review of activities
The results for the year and financial position of the School are shown in the annexed financial statements. The
School enjoyed another successful academic year with 685 pupils (2023: 640. 2022: 599, 2021: 548}, reflecting a
40°/0 Increase in pupil numbers since September 2018. In April 2024. the school successfully passed a material
change inspection by the Independent Schools Inspectorate (ISI). where the request to increase capacity from
685 to 735 was approved by both the ISI and the Department for Education. This increase reflects the extensive
improvements and enhancements made to the school's facilities. Due to sustained growth in applications for the
senior school, all senior year groups and Year 6 are currently full, with waiting lists in operation.
n September 2023. the school began an ambitious building project to expand its facilities with a large new
refectory. kitchen, sports changing rooms. and additional sports pitches. Completed in April 2024. these new
facilities have greatly enhanced daily life for everyone at the school. The relocation of dining facilities from the
main building allowed for significant further development: a new science laboratory was created in the former
kitchen space, a large drama studio now occupies the previous dining hall. and an additional classroom, along
with a refurbished Lab 1, were completed over the summer break in 2024. These substantial additions reflect the
school's commitment to providing the very best facilities for both pupils and staff.
AdVan￿d level examination candidates once again achieved impressive ￿sUltS across a fvll range of subjects.
This year, 28% of grades awarded were A", 54% were A°_A, and 750/0 were A°.B. Exceptional subject
achievements included 1000/0 of students in Gennan, Fine Art, Further Maths, English, and Theatre Studies
attaining an A" or A grade, while in French, Music, Religious Studies. Textiles. and Product Design. 1000/0 of
students achieved an A., A, or B grade. In addition to these academic successes, many students excelled in
their Extended Project Qualification (EPQ)
a qualification increasingly valued by universities as evidence of
independent research and study skills.
These high achievements secured places for students on a range of competitive courses. 86 % of students got in
to their Firm or Insurance choice universities. 64°/o of students who applied through UCAS took up places at
Russell Group universities, including the University of Bristol, University of Cambridge, UCL, Durham University,
Imperial College, King's College London, and the University of Warwick. Clinical courses remain popular, with
four students going to study Medicine, one for Midwifery, one for Physiotherapy and one for Veterinary Science.
Page 2

DERBY HIGH SCHOOL TRUST
{A Company Llmlted by Guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
PharmacylPharmacology are a growth area of interest with four students going into this field.
GCSE results were equally impressive, wilh 21,/0 of all grades awarded at the top Grade 9, while 64 % of grades
were at 9, 8, or 7 {A"IA under the previous system). This strong set of results directly reflects the tireless efforts
invested in our students, education and personal growih across a broad range of academic subjects.
In line with its aim to offer all pupils a broad and balanced education, Derby High School offered a range of co-
curricular activities to all ages. The school considers co-curricular activities to be a vital part of the overall
delivery of its educational objectives. Music. Drama. Art and Sport are particularly strong across both the Primary
and Senior Schools. All four areas provide outstanding opportunities beyond the curriculum for pupils. The
school has a thriving Duke of Edinburgh's award scheme offering Bronze, Silver and Gold with large participation
rates each year. The School also enjoyed success in a number of activities including the prestigious Engineering
Education Scheme and Go4Set.
Giving pupils opportunities to perform in front of an audience is vital to their development. The Senior School
Drama department delivered the following stage productions:
Lower School Production - My Very Own Story - Alan Ayckbourn
Senior School Production- This Changes Everything - Joel HonNood
The Primary team delivered the following stage productions-
EYFS Nativity- The Bossy King
KSI Nativity- Woolly
Y314 Production - Wiz Wham Alakazam
Y516 Production - Who's your mummy.
The Vocalise choir sang at Brookfields residential Home for World Mental Health day.
Over the course of the year there were 5 Primary Teatime Concerts with 20 to 25 solo performers in each. Y3
Ac￿lerand0 concert, where all pupils who have started to play an orchestral instrument, following assessments,
play a solo and join together to perform as a year group orchestra. Primary Christmas, Spring & Summer
Concerts - Harmony Choir (Y112}. Rhapsody Choir (Y314) Aria Choir(Y516), Encore Choir {Y3-Y6). Vocalise
Choir (Y6) Cadenza (Senior Orchestra), Octavia (Junior Orchestra), Andante Orchestra {Beginner Orchestra),
Vivace (Wind chamber group). Allegro {String chamber group).
In the Senior School students performed in 3 music concerts, one per term, in addition to a number of smaller
recitals. The choirs performed for the Christmas Service, which was held at Derby Cathedral.
The support of the staff for such a wide range of co-curricular accomplishment is a real strength of the school.
The school were able to return to running international residential trips following covid. These included trips to a
Languages trip to Gemany. watersports trip to Spain, a Year 6 trip to France and an expedition trip to Borneo. In
addition UK based residentials were run for children in both Primary and Seniors.
Key charities supported this year included Children in Need, Derby City Mission and Macmillan.
Publlc benefit policy
The Governors consider that they have complied with the public benefit guidance by continuing to operate the
School's own 'Assisted Places Scheme, to ensure that gifted children will not be barred from attending the
School due to parental financial hardship.
The object for which the School is established is to advance education and training, by the provision and conduct
of co*ducation for pupils aged 3-18. The principal object is met by the provision of an educational environment
Page 3

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
that will develop to Ihe full the talents of able pupils. In setting objectives and planning activities, the Governors
have given due regard to Ihe Charity Commission's general guidance on public benefit on advancing education
and on fee charging. Fees are set by reference to a detailed budgeting process undertaken each year, based on
the need to ensure the provision of a first class education environment for the pupils and the continued financial
viability of the School in both the short and long term. In discussions surrounding the setting of fees. any
Governor who has family members attending the School must declare that interest and nol participate in Ihe final
decision regarding the level of fees charged.
The School continues to make various awards of Scholarships. Bursaries and Remissions. These awards are
granted on the basis of educational ability or on the basis of financial assessmenl under the parental financial
hardship scheme or under the current remission scheme. A Committee of Governors approves all awards. The
awards during the period were £755,756 (2023 - £660,893).
School facilities are available for local voluntary organisations and local residents. The Sports Hall is used for
junior football leagues, local community leagues, local sports clubs and local community groups. The School
acts as a public access centre for music examinations. Pupils work in local primary schools and charitable
organisations through the Duke of Edinburgh Award Scheme and Work Experience placements.
FINANCIAL REVIEW
Going concern
After making appropriate enquiries, the Governors have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements.
Reserves policy
Ihe total unrestricted funds amount to £9,777.467 (2023
£8.577,618). A total of £13.738,864 (2023-
£6,161,514) has been deployed as part of the School premises and equipment. Funds designated for future
projects are as detailed in the notes to the financial statements. These projects will be undertaken when the
opportunity arises, thus with no fixed timescale in mind, but for which for the time being the Governors consider it
prudent to retain sufficient finance to meet day to day working capital needs in the absence of free reserves.
The School considers that the appropriate level of free reserves which are not invested in fixed assets should
ideally be equivalent to one term's expected expenditure, approximately £2,000.000.
The School's policy is, therefore, to continue to build up reserves by means of annual operating surpluses,
including the judicious management of investment assets. Consideration is also given to future capital projects
that are required to ensure the School's facilities are maintained to a high standard.
Asslsted Places Fund
The income from this fund is used to support scholarships granted to parents suffering financial hardship.
The Foundatlon Fund
This fund represents the net assets of the 1921 Trust on its commencement, to provide and promote the
advancement of education, which were gifted to the School on 1 September 1992.
The main assets gifted were tho School's premises. which have since been extended and improved.
The School, as set out in its Memorandum and Articles of Association, is unable to distribute any excess assets
on its winding up or dissolution. All net assets must be used by or transferred to a similar body for the provision
and advancement of education.
Page 4

DERBY HIGH SCHOOL TRUST
{A Company Limited by Guarantee)
GOVERNORS. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Investments policy
The Governors, investment policy is to maximise income and capital growth whilst at the same time spreading
the risk.
Funds are deposited in short term low risk investments to give readily available access to funds as and when
required.
The performance of the investments is disclosed in note 11 of the financial statements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Charity is incorporated under the Companies Act 2006 as a company limited by guarantee and is governed
by its Articles of Association. The members of the Company are the Governors named on page 1.
The Charity was established in 1991 to take over the previous School trust and is registered with the Charity
Commission under charity number 1007348. The School was originally founded in 1892.
The principal objective of the Charity is the promotion and advancement of co-education.
There have been no changes in the objectives since the last annual report.
Method of appointment or electlon of Governors
The management of the Charity is the respoiisibilily of the Governors who are elected an(f co-opted under the
terms of the Articles of Association. The School's Articles of Association can be found duly filed on the Charity
Commission website.
Foundation Governors are not required to retire by rotation. Following retirement, the remaining Foundation
Governors, at their discretion, appoint further Foundation Governors.
Co-opted Govemors are appointed at the Board of Governors, discretion for a term not exceeding five years, but
are eligible for re-appointment for such further term or terms ss the Board of Governors shall in its discretion
decide.
The Head leads the School through the next period of its development, building on our 125 year history and
promoting the ethos and profile of the School. She leads with passion, vision and energy, and continues to
develop the quality of the academic, pastoral and co- curricular provision to enable all our pupils to thrive.
Pollcles adopted for the induction and tralnlng of Governors
New Governors undergo a comprehensive induction and training process once appointed to the board. All
Govemors receive a manual produced by AGBIS entitled 'Manual of Good Practice for Governors of
Independent Schools" and are provided with ongoing training each year.
Organlsatlonal structure and decision making
The full Board of Governors meet at least once each term to ensure the effective governance of the School. All
sub-committees report to the full Board.
The overall educational needs of the School are administered by the Head on a day to day basis.
Page 5

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
The Bursar carries out the financial management of the School on a day to day basis along with all non-
educational matters, and the strategy is overseen by the Finance and General Purposes Committee.
Key Management Personnel
The Governors consider that they. together with the Head, the Bursar and those on the Leadership Scale
comprise the Key Management Personnel. The Governors give of their time freely and the pay and remuneration
of the Head and the Bursar and the senior slaff is set by the Finance and General Purposes Committee. and
approved by Full Board, and is kept under annual review,. as are all staff salaries. A number of criteria are used
in setting pay:
the organisational structure;
the salary scales and grade bands;
the nature of the role and responsibilities;
industry benchmarking.
Risk management
The Governors have a risk management process to assess business risk and implement risk management
strategies. This involves identifying the types of risks the Charity faces. prioritising them in terms of potential
impact and likelihood of occurrence, and identifying means of mitigating the risks. As part of this process the
Governors have reviewed the adequacy of the Charity's current intemal controls. The Governors are pleased to
report that the Charity's current internal controls conform with guidelines issued by the Charity Commission.
A formal review of the Ch2ritVs risk management processes is undertaken on an annual basis.
The Govp.rnors havp. ovp.rall responsibility for ensuring tha.t the. Charity has an appropriate system_ of controls.
financial or othe￿ISe. They are also responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities and to provide reasonable assurance that..
The Charity is operating efriciently and effectively;
Its assets are safeguarded against unauthorised use or disposition.,
Proper records are maintained and financial information used within the Charity, or for publication, is reliable.
The Charity complies with relevant laws and regulations.
The systems of internal control are designed to provide reasonable, but not absolute. assurance against material
misstatement or loss. They include:
A strategic plan and an annual budget approved by the Governors.
Regular consideration by the Governors of financial results. variances from budgets, non financial
performance indicators and benchmarking reviews.,
Delegation of authority and segregation of duties.
Identification and management of risk.
PLANS FOR THE FUTURE
Future developments
Our commitment to investing in our facilities will continue to see refurbishment of our campus facilities which
provide an excellent environment for all.
Page 6

DERBY HIGH SCHOOL TRUST
(A Company Llmlted by Guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Members. liabillty
The members of the Charity guarantee to contribute an amount not exceeding £1 each to the assets of the
Charity in the event of winding up.
Disclosure of inforniatlon to auditors
Each of the persons who are Govemors at the time when this Governors, report is approved has confimied that:
so far as each Governor is aware, there is no relevant audit informalion of which the charitable company's
auditors are unaware, and
each Governor has taken all the steps that ought to have been taken as a Governor in order to be aware of
any relevant audit information and to establish that the charitable companys auditors are aware of that
information.
Appr9
rder of the members of the board of Governors and signed on their behalf by:
Mrs A K Penny
Chair of Governors
Date:
Page 7

DERBY HIGH SCHOOL TRUST
(A Company Limlted by Guarantee)
STATEMENT OF GOVERNORS, RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY 2024
The Governors (who are also the directors of the Charity for the purposes of company law) are responsible for
preparing the Governors, Reporl including the Strategic Report and the financial stalements in accordance with
applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
Company law requires the Governors lo prepare financial slatemenls for each financial year. Under company
law, the Governors must not approve the financial statements unless they are satisfied that they give a true and
fair view of the state of affairs of the Charity and of its incoming resources and application of resources. including
its income and expenditure, for that period. In preparing these financial statements, the Governors are required
to:
select suitable accounting policies and then apply them Consistently.,
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial stalements-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Page 8

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF DERBY HIGH SCHOOL TRUST
Opinion
We have audited the financial statements of Derby High School Trust (the 'charitable company,) for the year
ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of
Cash Flows and the related notes. including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland. {United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 July 2024 and of its
incoming resources and application of resources, including its income and expenditure for the year then
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance wilh the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to providp a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Governors, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have nol identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable companys ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the
relevant sections of this report.
other information
The othor information comprises the infomation included in the Annual Report other than the financial
statements and our Auditors. Report thereon. The Governors are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the course of the
audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information. we are required to report that fact.
We have nothing to report in this regard.
Page 9

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF DERBY HIGH SCHOOL TRUST
(CONTINUED)
Opinion on other matters prescribed by the Companles Act 2006
In our opinion. based on the work undertaken in the course of the audit:
the infonnation given in the Governors, Report including the Strategic Report for the financial year for
which the financial statements are prepared is consistent with the financial statements.
the Governors, Report and the Strategic Report have been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstalements in the Governors, Report including the
Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have not been kept. or returns adequate for our audit have not been
received from branches not visited by us" or
the financial statements are not in agreement with the accounting records and retums- or
certain disclosures of Governors, remuneration specified by law are not made" or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Governors, Responsibilities Statement, the Governors {who are also the directors
of the charitable coimpany for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Governors determine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial statements. the Governors are responsible for assessing the charitable companvs
ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the
going concern basis of accounting unless the Govemors either intend to liquidate the charitable company or to
cease operations, or have no realistic alternative but to do so.
Auditors. responsibilities for the audlt of the financial statements
Our objectives are to obtain reasonable assurance about whether the fi'nancial statements as a whole are free
from material misstatement. whether due to fraud or error, and to issue an Auditors. Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
Enquiry of management around actual and potential litigation and claims;
Reviewing financial statement disclosuros and testing to supporting documentation to assess compliance
with applicable laws and regulations;
Performing audit work over the risk of management override of controls, including testing of journal entries
and other adjustments for appropriateness, evaluating the business rationale of significant transactions
Page 10

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF DERBY HIGH SCHOOL TRUST
(CONTINUED)
outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliants with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transaclions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities Occurring due to fraud rather than error. as fraud involves
intentional concealment. forgery, collusion. omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.or
.uklauditorsres
onsibilities. This description fomis part of our
Auditors, Report.
Use of our report
This report is made solely to the charitable companrfs members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
companys members those matters we are required to state to them in an Auditors. Report and for no other
purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body. for our audit work. for this report, or for the opinions we
have formed.
Wayne Thomas FCA (Senior Statutory Auditor)
for and on behalf of
Bates Weston Audit Limited
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE12RJ
Date: 24 April 2025
Page11

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 JULY 2024
Unrestricted Endowment
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other income
428,871
9,297.530
31,510
152,468
428,871
9,297,530
31,510
152,468
8,283, 769
58,353
749,030
Total income and endowments
9.910,379
9,910.379
8,491, 152
Expenditure on:
Raising funds
Charitable activities
41,348
8,687,565
41.348
8.710,173
33.061
7, 702,356
22.608
Total expenditure
8,728.913
22,608
8,751,521
7,735,417
Net in¢omel(expenditure) before net
gains on investments
Net gains on investments
1,181,466
18,383
{22,608)
1,158,858
18,383
755, 735
7, 663
Net movement in funds
1.199,849
(22,608)
1,177.241
763,398
Reconciliation of funds:
Total funds brought forward
Net movement in funds
8,577,618
1,199,849
629.552
(22,608)
9.207.170
1,177,241
8,443, 772
763,398
Total funds carried forward
9,777.467
606,944
10,384.411
9,207,170
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 30 form part of these financial statements.
Page 12

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 02666998
BALANCE SHEET
AS AT 31 JULY 2024
2024
2023
Note
Flxed assets
Tangible assets
Investments
14,345.808
117,381
6,914.308
780, 152
12
14,463,189
7, 694,460
Current assets
Debtors
13
151,426
250,108
710,911
122,016
1,036,478
1,924,446
Investments
Cash at bank and in hand
14
1,112,445
3,082,940
Creditors: amounts falling due within one
year
15
(2,539.638)
(1,271.799)
Net current liabilities l assets
(1,427,193)
1,811,141
Total assets less current liabilities
13,035,996
9,505.601
Creditors: amounts falling due after more
than one year
16
(2,651,585)
(298,431)
Total net assets
10,384,411
9,207, 170
Charlty funds
Endowment funds
Unrestricted funds
17
17
606,944
9,777.467
629,552
8.577,618
Total funds
10,384,411
9.207,170
The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Governors and signed on their behalf
by:
MrsAKPen
Chair of Governors
Date:
10 3oJJ
The notes on pages 15 to 30 form part of these financial statements.
Page 13

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024
2024
2023
Note
Cash flows from operatlng actlvities
Net cash used in operating activities
20
2,454,684
865,356
Cash flows from investing actlvltles
Purchase of tangible fixed assets
Investment additions
Investment disposals
(7,635.743) (7,454, 120)
(1,103)
681.154
Net cash used in investlng activities
{6.954.589) (1.455,223)
Cash flows from financing activities
Cash inflows from new borrowing
2.500,000
Net cash provided by financing activities
2.500,000
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
(1,999,905)
2,960.924
{589,867)
3.550. 791
Cash and cash equivalents at the end of the year
21
961,019
2, 960, 924
The notes on pages 15 to 30 form part of these financial statements
Page 14

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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 accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) and the Companies Act 2006.
Derby High School Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are inÉtially recognised at historical cost or transaction value unless othewise stated in the
relevant accounting policy.
1.2 Company status
The Charity is a company limited by guarantee. The members of the company are the Governors
named on page 1. In the event of the Charity being wound up, the liability in the respect of the
guarantee is limited to £1 per member of the Charity.
1.3 Fees and similar income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable Can be measured reliably.
Fees receivable are accounted for in the period in which the service is provided. Fees are stated
before deducting bursaries, scholarships and remissions granted by the School.
1.4 Expenditure
Expenditure is accounted for on an accruals basis. Overhead and other costs not directly attributable
to particular functional activity categories are apportioned over relevant categories on the basis of
management estimates of the amount attributable to that activity in the period, either by reference to
staff time or space occupied, as appropriate. The irrecoverable element of VAT is included with the
items of expense to which it relates.
Governance costs comprise the cost of running the Charity, including external audit, any legal advise
for the Derby High School Govemors, and all the costs of complying with constitutional and statutory
requirements, such as the costs of Board and Committee meetings and of preparing statutory
accounts and satisfying public accountability.
Fee remissions, allowances, scholarships and bursaries are included as an expended resource.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in
trading activities that raise flinds.
Charitable activities and Governance costs are costs incurred on the Charity's educational
operations, including support costs and costs relating to the governance of the Charity apportioned to
charitable activities.
1.5 Educational supplies
All educational supplies are written off in the year of purchase.
Page 15

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Accountlng policies (continued)
1.6 Leaslng commitments
Rentals under operating leases are charged to the Statement of Financial Activities incorporating
income and expenditure account on a straight line basis over the lease term.
1.7 Tangible fixed assets and depreciation
All capital items are written off in the year of purchase, ex￿pt for ilems costing over £25,000, which
are depreciated over their estimated useful life.
A review for impainment of a fixed asset is carried out if events or changes in circumstances indicate
that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying
value of fixed assels and their recoverable amounts are recognised as impairments. Impairment
losses are recognised in the Statement of Financial Activities incorporating income and expenditure
account.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off
the cost of fixed assets, less their estimated residual value, over their expected useful lives on the
following bases-
Freehold property
2% oncost
1.8 Investments and long term deposits
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balan￿ Sheet date. unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses. whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments, in the Statement of Financial Activities.
1.9 Pensions
The School is a member of a multi-employer plan. Where it is not possible for the School to obtain
sufficient information to enable it to account for the plan as a defined benefit plan, it accounts for the
plan as a defined contribution plan. The scheme is managed by the Department of Education.
The School operates a money purchase scheme for non-teaching staff.
Contributions to both schemes are charged in the Statement of Financial Activities (incorporating
income and expenditure account) as they become payable in accordance with the rules of the
scheme.
Page 16

DERBY HIGH SCHOOL TRUST
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Accounting poliGies (continued)
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Govemors in
furtherance of the general objeGtives of the Charily and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Governors for
particular purposes. The aim and use of each designated fund is set out in the notes to Ihe financial
statements.
Investment income. gains and losses are allocated to the appropriate fund.
1.11 Taxation
The School is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
AcGordingly. the School is potentially exempt from taxation in respect of income or capital gains
re￿iVed within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are
applied exclusively to charitable purposes.
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Donation of fixed assets
428,871
428.871
Income from charltable activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
School fees receivable
Other ancillary trading income
Activities for generating funds
Early years funding
8,985,709
189,848
25,302
96,671
8,985,709
189,848
25,302
96,671
7.906, 939
254,810
30,415
91,605
9,297,530
9,297.530
8, 283, 769
Page 17

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Bank and investment income
31,510
31,510
58,353
Other incoming resources
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Sundry income
Income from school activities
14,832
137.636
14,832
137,636
14,622
134,408
152,468
152,468
149,030
Expenditure on raising funds
Costs of raising voluntary income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Advertising
41,348
41.348
33.061
Page 18

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Analysls of expendlture on charitable activities
Summary by fund type
Unrestricted Endowment
funds
funds
2024
2024
Total
2024
Total
2023
Educational costs
Welfare costs
Premises costs
Support costs
Governance costs
5.890,920
722,764
1.254,289
805.706
13,886
5,890,920
722,764
1,276,897
805,706
13,886
5,410,956
640, 152
1,043.314
595,239
72,695
22,608
8,687,565
22,608
8.710,173
7, 702,356
Total 2023
7,679, 748
22, 608
7, 702,356
Summary by expenditure type
staff costs Depreciation Other costs
2024
2024
2024
Total
2024
Total
2023
Educational costs
Welfare costs
4,814,187
17,983
316,235
481,951
1,076,733
704.781
756,419
323,755
13,886
5.890.920
722.764
1.276,897
805.706
13,886
5,410.956
640, 152
1.043.314
595,239
12.695
Premises costs
Support costs
Governance costs
204.243
5.630,356
204,243
2,875,574
8,710,173
7, 702,356
Total 2023
5, 145,203
145,850
2,411,303
7, 702,356
Auditors. remuneration
2024
2023
Fees payable for the audit of the Charity's annual accounts
9,900
9,450
Page 19

DERBY HIGH SCHOOL TRUST
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Staff costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
4,390,806
411.873
827,677
4,046,801
390,463
707,939
5.630.356
5. 145,203
The average number of persons employed by the Charity during the year was as follows:
2024
2023
No.
Management and administration
Teaching
Domestic and catering
13
12
89
87
21
21
123
120
The number of employees whose employee benefits (excluding employer pension costs) exGeeded £60.000
was..
2024
2023
In the band £60,001- £70.000
In the band £70,001- £80,000
In the band £80,001- £90,000
In the band £90,001- £100,000
In the band £100.001- £110,000
For employees paid between £60.00,,1- £70,000 the School made total contributions of £32.279 (2023.. £14.838}
to the appropriate pension scheme.
For employees paid between £70,001- £80,000 the School made total contributions of £19.359 (2023.. £17.146)
to the appropriate pension scheme
For employees paid between £80,001 £90,000 the School made contributions of £Nil {2023: £14,010) to the
appropriate scheme.
For employees paid between £90,001- £100,000 the School made contributions of £18.723 (2023.. £22,919) to
the appropriate scheme.
For employees paid between £100,001- £110,000 the School made contributions of £26,767 (2023.. £nil) to the
appropriate scheme.
Page 20

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Staff costs (continued)
Key management personnel are considered to be the Head Teacher, Deputy Head Teachers, Head of Primary
and Bursar who received total remuneration of £405.833 (2023: £374.753).
10. Governors remuneration
During the year, no Govemors received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 July 2024, no Governor expenses have been incurred (2023 - £NIL).
11. Tangible fixed assets
Freehold
Property
Cost
At 1 August 2023
Additions
9.101,574
7,635,743
At 31 July 2024
16.737,317
Depreciation
At 1 August 2023
Charge for the year
2,187,266
204,243
At 31 July 2024
2,391,509
Net book value
At 31 July 2024
14,345,808
At 31 July 2023
6,914,308
Included in land and buildings is freehold land at a cost of £200,000 (2023 £200,000), which is not
depreciated.
Page 21

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
12. Flxed asset investments
Listed
Unlisted
investments investments
Total
Cost or valuation
At 1 August 2023
Disposals
Revaluations
676.172
(577.195)
18,383
103,980
(103,959)
780.152
{681.154)
18,383
At 31 July 2024
117,360
21
117,381
13. Debtors
2024
2023
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
11,160
17,947
2,641
107,428
140,266
151,426
122,016
14. Current asset investments
2024
2023
65 day access notice account
250,108
1.036,478
Page 22

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
15. Credltors: Amounts falling due within one year
2024
2023
Bank loans
Final term fee deposits
Trade creditors
Other taxation and social security
Other creditors
107,539
40.400
139,069
97,438
121.712
2,033.480
33,470
94,325
93,667
88, 739
961,598
Accruals and deferred income
2.539.638
1,271,799
2024
2023
Deferred income brought forward
Resources deferred during the year
Amounts released from previous periods
927,994
1,866,287
{927,994)
823, 656
927, 994
(823, 656)
1.866,287
927, 994
Deferred income for the year includes £1,866.287 fees in advance {2023: £894.494) and trip income
included in accruals totalling £Nil (2023= £33,500).
16. Creditors: Amounts falling due after more than one year
2024
2023
Bank loans
Final tem fee deposits
Accruals and deferred income
2,392,461
259,124
238,680
59,751
2,651,585
298,431
Page 23

DERBY HIGH SCHOOL TRUST
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
16. Creditors: Amounts falling due after more than one year {continued>
2024
2023
Repayment of final term fee deposits is due on the child leaving the school, net of any charges
outstanding. No interest is due on these balances.
Included within the above are amounts falling due as follows:
2024
2023
Between one and two years
Bank loans
221,797
Between two and five years
Bank loans
2,170,664
The bank loan is secured against the fixed assets to which it relates.
17. Statement of funds
statement of funds - current year
Balance at 1
August 2023
Transfers
inl{out)
Gainsl Balance at
(Losses) 31 July 2024
Income Expenditure
Designated
funds
Fixed assets
fund
6,284,756
(181,635) 7.635,743
13.738.864
Assisted places
fund
223,947
(181,025)
181,025
223,947
6,508,703
(362,660)
7.816,768
13.962,811
General funds
General Funds
2,068,915
9,910,379
(8.366,253) {7,816,768)
18,383
(4,185,344)
Total
Unrestricted
funds
8,577.618
9,910,379 {8,728,913)
18,383
9,777.467
Page 24

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
17. Statement of funds (continued)
Endowment
funds
The Foundation
Fund
629,552
(22,608)
606.944
Total of funds
9,207,170
9.910,379 (8,751.521)
18,383 10.384.411
Statement of funds - prior year
Balance at
l August
2022
As restated
Transfers
in/(ouÉ)
As restated
Income Expenditure
Gainsl
Balance at
(Losses) 31 July 2023
Designated
funds
Fixed assets
fund
(123,242)
6,284, 756
6,761,514
Major property
fund
1, 100,000
(93,331)
(950,065)
56, 604
Assisted places
fund
223,947
(121,720)
121,720
223, 947
1,323,947
(338,293) 5,456,411
6,442, 065
General funds
General Funds
6,467,665
8,491, 152
(7,374,516) (5,456,411)
7, 663
2, 135.553
Total
Unrestricted
funds
7.791,612
8,491, 152 (7,772,809)
7, 663
8,577,618
Endowment
funds
The Foundation
Fund
652, 160
(22,608)
629,552
Total of funds
8,443, 772
8,491,152
(7, 735,417)
7.663
9.207, 170
Page 25

DERBY HIGH SCHOOL TRUST
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
17. Statement of funds (contlnued)
DESIGNATED FUNDS
Fixed Assets Fund
This fund recognises that certain assets will be used operationally and their disposal may adversely
impact on a charitys ability to deliver its aims. The carrying value of the fixed assets is therefore set aside
as designated funds in the balance sheet and is excluded from the free reserve calculation.
Major Property Fund
A provision for anticipated major property repair expenditure in future years is maintained. Any movement
on this provision will be adjusted for through unrestricted general funds.
Assisted Places Fund
This fund is used to support scholarships granted to parents suffering financial hardship.
ENDOWMENT FUNDS
The Foundation Fund
This fund represents the net assets of the 1921 Tiust oli its coimmeiicement, to provide and proimote the
advancement of education, which were gifted to the School on 1 September 1992.
The main assets gifted were the School's premises, which have since been extended and improved.
The School. as set out in its Memorandum and Articles of Association, is unable to distribute any excess
assets on its winding up or dissolution. All net assets must be used by or transferred to a similar body for
the provision and advancement of education.
18. Summary of funds
Summary of funds - current year
Balance at 1
August 2023
Transfers
Gainsl Balance at
inl(out) (Losses) 31 July 2024
Income Expenditure
Designated
funds
General funds
Endowment
funds
6,508,703
2,068,915
(362,660)
7,816,768
(8,366,253) (7,816,768)
13.962,811
18,383 (4,185,344)
9,910,379
629.552
(22,608)
606,944
9,207.170
9,910,379 (8,751,521)
18,383 10,384.411
Page 26

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
18. Summary of funds (continued)
Summary of funds - prior year
BalanGe at
l August
2022
As restated
Transfers
in/(out)
As restated
Income Expenditure
Gainsl
Balance at
(Losses) 37 July 2023
Designated
funds
1,323,947
6,467,665
(338,293) 5,456,411
(7,374,516) (5,456,411)
6,442,065
2, 135,553
General funds
Endowment
funds
8,491, 152
7,663
652, 160
(22,608)
629,552
8.443, 772
8,491,152 (T.735,417)
7,663
9,207, 170
19.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted Endowment
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
13,738,864
117.381
1,112,445
(2,539,638)
(2,651,585)
606,944 14,345.808
117.381
1,112,445
(2.539,638)
{2,651,585)
Total
9,777,467
606,944 10,384,411
Page 27

DERBY HIGH SCHOOL TRUST
{A Company Llmiled by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
19. Analysls of net assets between funds (continued)
Analysls of net assets between funds - prior period
Unrestricted Endowment
funds
funds
2023
2023
Total
fvnds
2023
Tangible fixed assets
Fixed asset investments
Current assets
6,284, 756
780, 152
3, 082,940
(1,271,799)
(298,431)
629, 552
6,914,308
780, 152
3,082,940
(1.271.799)
(298,431)
Creditors due within one year
Creditors due in more than one year
Total
8,577,618
629,552
9,207, 170
20.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
2023
Net income for the period (as per Statement of Financial Activities)
1,177,241
763,398
Adjustments for"
Depreciation charges
(Gains)Ilosses on investments
Increase in debtors
Increasel(decrease) in creditors
204,243
(18,383)
{29,410)
1.120,993
145,850
(7,663)
(32,642)
(3,587)
Net cash provlded by operating activities
2,454,684
865,356
21.
Analysis of cash and cash equivalents
2024
2023
Cash in hand
Current asset investments
710,911
250,108
1,924,446
7,036,478
Total cash and cash equlvalents
961,019
2, 960, 924
Page 28

DERBY HIGH SCHOOL TRUST
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
22. Analysis of Changes in net debt
At 1 August
2023 Cash flows
At 31 July
2024
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Investments
1,924.446
(1,213,535)
710,911
(107,539)
(107,539)
(2,392,461) (2.392,461)
(786,370)
250,108
1,036,478
2,960,924 (4,499,905) (1,538,981)
23. Capitsl commitments
2024
2023
Contracted for but not provided in these financial statements
Acquisition of tangible fixed assets
158,930
24.
Pensions
The Teachers. Pension Scheme (TPS) is a statutory, contributory, defi'ned benefit scheme. governed by
the Teachers, Pensions Regulations (2010) and, from 1 April 2014. by the TPS Regulations 2014.
Membership is automatic for full-time teachers and. from 1 January 2007. automatic for teachers in part-
time employment following appointment or a change of contract, although they are able to opt out.
The TPS is an unfunded scheme and members contribute on a 'pay as you go, basis - these contributions
along with those made by employers are credited to the Exchequer. Retirement and other pension
benefits are paid by public funds provided by Parliament.
The pension charge for the year includes contributions payable to the TPS of £785,066 {2023: £673,791).
At the year-end £99,347 (2023: £78,012) was accrued in respect of contributions to this scheme. The
School also runs a scheme for its non-teaching staff, which is a money purchase scheme. The cost for the
year represents the School's contributions to that scheme of £27,715 (2023.. £16,077).
VALUATION OF THE TEACHERS. PENSION SCHEME
The Government Actuary, using normal actuarial principles. conducts a fonnal actuarial review of the TPS
in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014
published by HM Treasury every 4 years. The aim of the review is to specify the level of future
contributions. Actuarial scheme valuations ar& dependent on assumptions about the value of future costs,
design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at
31 March 2020 and in accordance with the Public Service Pensions (Valuations and Employer Cost Cap)
Directions 2014. The valuation report was published by the Department for Education on 27 October
2023, with the SCAPE rate, set by HMT. appEying a notional investment return based on 1.7 % above the
rate of CPI. The key elements of the valuation and subsequent consultation are:
Page 29

DERBY HIGH SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
24. Pensions (Continued)
employer contribution rates set at 28.68% of pensionable pay, including a 0.08°/o employer
administration charge.
total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for
service to the effective date of £262,000 million, and notional assets (estimated future contributions
together with the notional investments held at the valuation date) of £222,200 million giving a notional
past Servi￿ deficit of £39.800 million.
The TPS valuation for 2020 determined an employer rate of 28.680/0, which was payable from 1 April
2024.
A copy of the valuation report and supporting documentation is on the Teachers, Pensions website.
Under definitions set out in FRS 102. the TPS is a multi-employer pension scheme. The trust has
accounted for its contributions to the scheme as if it were a defined contributions scheme. The trust has
set out above the information available on the scheme.
25.
Operating lease commitments
At 31 July 2024 the Charity had commitments to make future minimum lease payments under non-
cancellable operating leases as follows=
2024
2023
Amounts payable:
Not later than 1 year
Later than 1 year and not later than 5 years
5.958
117
23,054
6,075
6.075
29,129
26.
Transactions with governors
The Governors who have children that attend the School received scholarships and remissions of £4.860
(2023.. £4,550). All transactions were on normal commercial terms.
Govemors who are parents of children at the School do not participate in the setting of School fees.
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