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← Lady Barn House School Limited

2024-08-31-accounts

REGISTERED COMPANY NUMBER: 02986515 (England and Wales) REGISTERED CHARITY NUMBER: 1042587

LADY BARN HOUSE SCHOOL LIMITED TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

LADY BARN HOUSE SCHOOL LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Page
Reference and administrative details of the
Charity, its trustees and advisers 1
Trustees’ report 2 – 14
Report of the Independent Auditor 14 – 18
Statement of Financial Activities 19
Balance Sheet 20
Cash Flow Statement 21
Notes to the Financial Statements 22 - 33

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LADY BARN HOUSE SCHOOL LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024

Trustees

R Doidge, (Resigned 5 February 2024) J Flynn, Chair R Hart (Resigned 31 August 2024) F Kabbani J Poole C Maxwell C Mayo O Aziz K Alwan Walker J Webster (Appointed 1 July 2024, Resigned 17 November 2024) S Perry (Appointed 1 July 2024) L Ledson (Appointed 1 July 2024)

Company registered number

02986515 Charity registered number 1042587 Registered office

Schools Hill Cheadle Cheshire SK8 1JE Company secretary A Webb Chair J Flynn Independent auditors Crowe U.K. LLP Chartered Accounts, Statutory Auditors St George’s House 56 Peter Street Manchester M2 3NQ Bankers Royal Bank of Scotland

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97 Fishergate Preston PR1 2D

LADY BARN HOUSE SCHOOL LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees (who are also Directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of the company Lady Barn House School Limited (the company) for the year ended 31 August 2024. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements of the company's governing document and the provisions of the Statement 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) (effective 1 January 2019).

Objectives: Strategies and Activities

In setting objectives, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary public benefit guidance.

The principal objectives of the company are:

Within the above objectives it is the aim of the school to provide each child with a personal journey of discovery, opportunity and success and to inspire each child to discover a love of learning, giving them the opportunity and confidence to be themselves, so that they can flourish and succeed in all aspects of Lady Barn life and beyond. The main objective is to enable all children to reach the secondary school which is most appropriate for them, to continue the foundation work done at Lady Barn during their primary phase of education.

Strategies for achieving objectives

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Activities for achieving objectives

Structure, governance and management constitution

Constitution

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 31 October 1994.

The company is constituted under a Memorandum of Association dated 31 October 1994 and is a registered charity, number 1042587. It was registered as a charity on 6 December 1994. The address of the office and principal place of operations is Schools Hill, Cheadle, Stockport, SK8 1JE.

The headmistress, Ms Louise Higson, took up post from 1 September 2021.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Method of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

Trustees are recruited through a rigorous and inclusive recruitment process. Suitable applicants are invited to join the board on the basis of their expertise and general experience in view of the gaps in skills of the board which are identified via a regular skills audit. Potential Trustees are interviewed by the Chair of Governors as well as members of the SLT prior to introduction to the full board and appointment. If deemed suitable, a Trustee is elected as a Trustee/Director at the regular termly meeting. Mrs Julie Flynn, is the current Chair of Governors.

Policies adopted for the induction and training of Trustees

On joining the board new Trustees are provided with sufficient background information documents to enable them to discharge their duty and are offered the opportunity of gaining detailed knowledge of their chosen sector from within the body of expertise available at the school.

Individual trustees are designated to oversee sectors of the school activities such as Health and Safety, Education, Finance and Safeguarding. The Trustees delegate day-to-day operations of the school to the Senior Leadership Team.

Trustees are encouraged to attend training sessions run in-house, online and externally. Support is provided by the ISBA and AGBIS. A full review of governance and committees was undertaken in Autumn 2022. The skill base of the governing body is regularly reviewed in light of the changing needs of the school.

SLT and Governors aim to meet at least annually to discuss and review the School’s strategic planning.

Organisational structure and decision making

The Trustees determine the general policy of the school and the principles upon which it operates. They set fees and salaries and approve development plans as well as inputting to and reviewing the strategic plans for the school.

Related party relationships

Historically the school has occupied property and premises owned by Lady Barn Properties Limited, which was a registered charity and wholly owned subsidiary of Lady Barn House School Limited. Both companies were controlled by the same Trustees. The school has historically made charitable donations to this company to enable it to improve and extend the premises occupied by the school.

The school has no other relationships with any other parties and the Charity relies on its own resources.

Risk management

The Trustees have assessed the major risks to which the company is exposed, these are logged on the School's Risk Register. The School has a nominated Trustee with particular skills in this area to guide and challenge the work of the SLT. The Risk Register is reviewed annually by the full board and termly by each sub-committee. The trustees work with the SLT and the Head to ensure that systems and procedures are in place to mitigate exposure to the major risks.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance Academic

The school’s excellent reputation for academic performance was maintained again this year. In November 2021 the School achieved a grade of Excellent from the Independent Schools Inspectorate across all areas. The School was inspected again in October 2024 and awaits the formal result.

We pride ourselves on being able to prepare pupils for a full range of schools, both independent and state. The extensive experience of our staff is drawn upon to match each pupil with the school that best suits their individual personality, strengths and interests, and enables each child to maximise their academic potential. Pupils in Prep 6 achieved excellent results in entrance exams for schools with very high entry standards, including the Trafford Grammar Schools, Manchester Grammar School, Withington Girls School and Manchester High School for Girls. These results sit alongside excellent pass rates into Cheadle Hulme School, Stockport Grammar School, King's Macclesfield and Alderley Edge School for Girls. A number of children also move on to local state secondary schools and academies.

Pupils were also awarded a significant number of Scholarships, including Academic, Art, Drama, Music and Sport.

Grant-making and access-widening

In recent years the Trustees have maintained their commitment to developing the school's bursary scheme. We are in line with our 5-year plan to support the equivalent of 10 full-time equivalent places at the school and in doing so extending our educational offer and facilities to include a wider group of children.

The Trustees are mindful of the long-standing need to provide public benefit and of the requirements of the Charities Act 2011.I setting the School aims and objectives and planning the School's activities, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit.

LBHS Charitable Work 2023-24

Over the course of the academic year, a phenomenal amount of charitable work was undertaken. The school community came together to support each cause and have made a difference locally, regionally, nationally, and internationally in their fundraising work.

The Charity Councillors (from Prep 2 to 6), worked to represent the views of their peers in giving focus to the School’s charitable efforts.

Support was given to the British Red Cross in their vital humanitarian work. The relationship with international charities was strengthened during the year, when the school sent obsolete uniform items to Zimbabwe for use by fellow school children.

The School sponsored four animals via an adoption programme at Chester Zoo; this facilitated support in the protection of endangered species and the welfare of animals across the globe. Pupils, in each department, engaged in the process of learning about the animals and voting for the one they wished to sponsor.

Other highlights which raised over £6.5k:

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The School is committed to continue to build on this positive work in the charitable area made possible by the whole school community.

PE and Games

Sport remained a focus across the whole school with a wide variety of opportunities for pupils at a range of levels to encourage the children.

The department continued to extend the provision of a varied Games experience with new initiatives to be more inclusive and accessible. These included:

• Mixed House Competitions with girls and boys participating in mixed teams An enrichment programme was offered, where pupils chose the activities they wished to participate in. In addition, Infant Games has provided opportunities for house competitions for cross country as well as house futsal and football.

Department highlights:

Department highlights:
• The department received a brand-new hard ball cricket equipment package from the PTA, spending over
£1,000 for the children to enable them to play hard ball U’11 cricket.
• A number of pupils qualified for the ISA Swimming Nationals, which will be at the London Olympic Pool
• Pupils participated in the MCFC Junior Football Festivals at the Etihad Campus achieving a range of
successes; U’8 Boys runners up, U’10 Boys quarter finals, U’11 Girls winners, U’11 Boys quarter finals.
• Swimming galas for Prep 4 and 5 were well supported by our parents.
• The U’11 Girls A team won the EFL Stockport Schools Cup at Stockport Sports Village, Woodley. They
progressed to the next level, where they represented Stockport County and played 10 fixtures. They won 9
and lost one but qualify for the National Finals as runners up.
• The U’11 Boys A team narrowly missed out in qualifying for the ISA 5-a-side Nationals at St George’s Park.
We were one game away after losing in the quarter final.
• A Saturday football day trip was organised to Queen Ethelburga’s, York, engaging 28 Prep 6 boys. Four
fixtures resulting in three wins and 27 goals scored. Other activities included swimming and a match at York
City FC v Wealdstone FC, in the National League.
• Prep 6 Boys played MGS at Hockey for our first competitive hockey experience. Four pitches brought 22
goals and lots of success and enjoyment.
• U11 Girls’ netball team qualified for the ISA National Finals.
• Prep 6 girls visited Condover Hall on a weekend residential tour which saw 28 girls representing Lady Barn
House School, taking part in both a netball tournament and various outdoor adventure activities.
• Prep 4 Girls experienced their first football festival at Man City FC. The girls were overall Plate winners.
• Prep 6 girls won the ISA U12 Girls Relay in the ISA Athletics.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Cricket has been very popular for both girls and boys, inspiring Reception to Prep 2 to join All Stars cricket coaching outside of school and Junior pupils to attend local cricket clubs. The infants have developed their skills with our external provider on Fridays after school. These pathways generate an outstanding cricket culture at Lady Barn, where cricket provision is flourishing. At our open Junior Late Games sessions, we attracted 68 Upper Junior pupils one week and 51 Lower Juniors to play cricket after school. Pupils achieved two victories over MGS with the 1st XI and U’10 cricket teams.

The girls football team have enjoyed an incredible season this year. After tournament success in the Autumn Term, the girls won an ISA Northern competition in April at The Grange. In May, they followed that up with a win at the ISA Northwest Qualifier, following a win in the final. They also qualified for the Premier League Primary Stars National Finals with a second-place finish at the Northern qualifier. Two National Finals for Lady Barn followed. Overall, the team finished in 6th place nationally, missing out on a semi-final appearance on goal difference. Nonetheless, a great year for the girls’ team with plenty of goals scored in the process.

Gymnastics

Over 100 Prep 2, 3 & 4 children attend on a Monday, Wednesday or Friday lunchtime to participate in gymnastics and Prep 6 children volunteered as coaches to assist at these sessions.

The ISA North Gymnastics (Hipperholme Grammar School) provided an opportunity for two teams to represent LBHS in this inaugural event. The coach worked closely with the event host to plan and coordinate the format, and 11 school teams took part. We hope to repeat the event next year and expand to include boys.

Prep 2 and Prep 3 lunchtime gymnastics sessions with a coach from Vernon Park Gymnastics Club continued to be fully booked and children are making great progress.

The Elite Squad Gymnasts attended the Northwest Regional Floor and Vault competition in Blackburn in February. The team event saw the Girls A team take Gold and the B Team take Silver. The Mixed A took Gold, Mixed B Silver and Mixed C Bronze.

The Elite Squad also took part in the NW Milano regional qualification. This is a group and team competition. The girls took Gold & Bronze medals, the Boys Gold and the Mixed Gold and Silver, meaning that we qualified for National Finals in all three categories.

National Finals on the 9 May in Stoke saw Lady Barn representing the Northwest Region in the girls, boys and mixed competitions. This is a huge event and takes place over two days with over 150 teams participating. The team were crowned U11 National Champions.

ISA National Gymnastics Championships – Shrewsbury 2024. Lady Barn were represented in all categories (U9 Boys, U9 Girls, U9 Girls Group, U11 Boys, U11 Girls and U11 Girls Group)

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Music lessons and exams

The Music Department started the year with over 120 children having individual music lessons in school. This fed well into our Class Concerts and Recitals which took place throughout the year. Many of the children in Prep 5 and Prep 6 also attended the early morning Theory lessons to further support their music making. Our external exam results continued to be fantastic with a 100% pass rate. 62% of the entries gained a Merit and 22% gained a Distinction.

School choirs and singing

Our choirs rehearsed weekly and involved many pupils across the Junior Department. We enjoyed singing Christmas songs and carols at John Lewis in December and at the Carol Service at St Mary’s. We also had a Vocal Evening in May. All the choirs and singing groups from the Juniors performed at this event and we also enjoyed some solo songs from the children who have singing lessons in school. This was a lovely evening which allowed the younger children to see where they might be going in the future. The evening demonstrated the improvements the children make as they make their journey through the various singing groups and levels in school.

Ensembles and instrumental concerts

Musical Ensembles were provided throughout the year by our Visiting Music Teachers and these groups performed both in and out of school. Each of the String, Guitar and Flute Ensembles performed in one of our Recitals and the guitars and flutes played again at the summer prize giving event.

We also had the Drum Night in May, run by our peripatetic teacher. On this occasion some of our Prep 4, 5 and 6 drummers were invited to play with the band. It was a fantastic opportunity for the children to perform in a “real-life” context.

Music Theatre

Music Theatre was very popular again and we ran two separate groups throughout the year. They performed “Chitty Chitty Bang Bang” and “My Fair Lady”. This involved children from Prep 3 – Prep 6 all working together within the ensemble to perform a condensed version of the stage musicals. There were some great solo performances and lots of whole cast singing and dancing.

Prep 6 Production

The Prep 6 group auditioned for the production of Beauty and the Beast in February and began their rehearsals in earnest in March. Many children gave outstanding performances in solo parts and the whole year group created some memorable moments as the enchanted cutlery in Be Our Guest!

In the classroom

In the class music lessons all children in the Juniors have continued to learn to play the keyboard. In addition to this I have been exploring composition with the children in Prep 4 – 6.

The Infants have enjoyed singing, playing the classroom instruments and exploring the instruments of the orchestra through the musical stories of composers such as Saint-Saens and Tchaikovsky.

Drama

Following October half-term, the Infants rehearsed their Christmas shows. The shows were performed in the penultimate week of term.

Prep 4 took part in a production called The Greeks in the Spring Term. Prep 6 performed Beauty and the Beast in the Summer Term

Prep 3 & 4 and Prep 5 & 6 Limelighters groups performed their plays for parents in the Drama Studio. Lower Juniors performed Beowulf and Upper Juniors, Romeo and Juliet.

West End in Schools Dance/Drama Workshops took place in March to coincide with World Book Day. There were separate workshops for Lower Juniors and Infants.

The Young Shakespeare Company visited and worked on Henry V. with Prep 5 and 6 in March. The combination of professional actors and Lady Barn children created a magical retelling of Shakespeare’s classic play.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

LAMDA exams were taken by 120 children over two Saturdays in March. Most of the children achieved a Distinction.

The Prep 5 drama trip to Bromsgrove went in October. The children visited The Space Museum, Warwick Castle and The Black Country Museum and saw Charlie and the Chocolate Factory at the Birmingham Hippodrome.

Art

The year began on a high note with the unveiling of the impressive large-scale Barney model. Every pupil from Prep 1-6 contributed by designing and painting their own feather, which was proudly displayed on the model, showcasing the creativity and teamwork of the children.

Art Club was immensely popular, with weekly lunchtime sessions on rotation for Lower and Upper Juniors. Due to high demand, the club was oversubscribed throughout the year.

A number of students were selected to participate in the regional level of the ISA Art Competition, and we had several winners:

A pupil also received a highly commended award for her ceramic portrait at the National level.

In December, a successful parent workshop, with nearly 100% attendance from all Prep 5 classes. Feedback from both parents and children was overwhelmingly positive, with many expressing pride in the creations they took home.

The Art Department participated in the "Team Up" event, during which several excellent stop-motion videos were produced in the art studio by mixed groups of students from across the school.

In February, eight students were invited to compete in the annual Stockport Grammar School Portrait Competition. Extracurricular clubs were held where students created mixed-media photography pieces. Although competition was tough and we did not place, the experience was greatly enjoyed by all.

Prep 6 worked collaboratively to create an artwork based on a contemporary British artist. Each pupil contributed their own design, and the finished piece is now proudly displayed near the MAC team office.

A Prep 6 pupil achieved another win in the ISA Butterfly Competition, receiving a highly commended award for her beautiful pencil crayon design.

The Art Department also represented LBHS in this year's Bramhall Duck Race, with our duck, Belle, finishing strong and just narrowly beaten.

A selection of Upper Juniors represented LBHS in a bespoke exhibition at John Lewis, where each student designed their own dream bedroom. Prizes were awarded to the winners, making it a memorable event.

In June, a pupil from Prep 6 won first place in the ISA Sports Cover Design competition for his rugby-themed artwork. His design will be featured prominently and viewed by over 1,800 people this academic year.

Science

The past academic year in Science has been an exciting one. As the new curriculum has been well embedded, the 23 –24 academic year saw the introduction of a hybrid approach to Prep 1 lessons. This follows the successful introduction of woodland science in Prep 2.

Following an evidence-based approach, use of the outdoor spaces has been carefully planned to enhance learning outcomes. As this teaching is delivered by form teachers rather than a subject specialist, the Head of Science has worked closely with staff to support the change in approach. Prep 2 children were excited to invite their parents to take part in one of their woodland science lessons which presented a wonderful opportunity to give a real experience of what curriculum-based outdoor learning can look like.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Lessons in Lower Juniors continue to be varied and exciting, with a practical focus. By beginning to work more independently, the children are developing real competence in their practical skills and have laid good foundations for their next steps. A trip to the Catalyst Science Centre for Prep 3 continues to be a popular highlight of the year.

In Upper Juniors, all children are able to participate in more demanding practical work, where they are encouraged to deepen their scientific thought processes and investigative skills. The Prep 6 lamb heart dissection is an eagerly anticipated milestone which is both enjoyable and stretches the children’s knowledge well beyond the primary curriculum. The benefits of a strong subject specialist and bespoke laboratory are both evident in this provision. In an aim to prepare the children for the modern world where potentially many global issues may be solved by (Science, technology, engineering, arts and mathematics) STEAM, Prep 5 sees the introduction of an enterprise challenge. Here students work in groups to consider the environmental, financial and scientific contexts in insulated cup design. The 23/24 academic year saw this challenge being expanded to culminate in a final ‘investment pitch’ to potential investors Ms Higson and Mrs Beer.

Commented [AW1]: Pig?

Enrichment always forms an essential part of the offering in science. Last year’s highlight was the loan of lunar materials from NASA alongside a planetarium visit. A significant proportion of the school entered the Science Week Challenge which culminated in an impressive exhibition of work. It has been a pleasure to invite parents and grandparents to come in to school and appreciate some of these extra-curricular offerings. Looking ahead, a new trip has been introduced to Prep 5 where the children will visit RHS Bridgewater to enjoy some hands-on activities looking at plant reproduction.

Woodland

We have had a school conservation project to remove the Himalayan Balsam new growth with large piles of new plants being removed by each year group that visit. We successfully removed all new growth that was invading onto the pathway.

The willow structures in Buttercup Meadow, as a screen around the shed and the fire circle continue to provide interest, soak up rainwater and provide abundance of resources for further projects. Bows & arrows have been made in the hundreds, as well as fishing rods, dream catchers, den building, child led building projects and the bark being used for cordage and woven plates.

The Woodland Trust is supplying a couple of hundred new saplings this autumn to create new hedges alongside the woodland and increase the biodiversity within the woodland.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Gardening club continues to create delight with food the children can eat straight from the plants. Broad beans, runner beans and an excellent pea harvest have been gobbled up. We had a successful entry to the RHS Tatton Flower Show. The children painted tins recycled from the kitchen and made them into planters that could sit on a constructed “owl” stand. All the plants we grew were edible including purple mange tout and lots of nasturtiums. We made gnomes out of wood and signage using off cuts and decorative nails.

The guttering on the shed and outdoor classroom; we now have 3 barrels which collect the rainwater from the roof of the outdoor classroom. These serve to reduce the water that runs into the surrounding area so reducing mud creation around the seated area plus they enable us to have water for watering the plants. The garden club have made their own watering cans from plastic bottles.

Bulb planting; Gardening club have planted snowdrops & bluebells bulbs with tulips and daffodils being planted nearer the school buildings.

Curriculum Enrichment 2023-2024

Curriculum Enrichment this year, has continued to develop and grow. We have spent time improving relatively new schemes, such as the Lightbulb lessons and The Exhibition, as well as continuing with the success of the Research Award.

During 2023/2024, we ran Lightbulb Lessons for Basketball, Woodland School, Art and Computing. These sessions are run on Saturday mornings and provide a bespoke session for pupils that is both fun and stretches their knowledge in a particular subject, the school offered three community outreach places on the Computing session, attended by pupils from Kingsway Community Trust School.

Commented [AW2]: explain

The Exhibition

Was on the theme of “Sustainability’. We had 50 entries from across all departments and showcased the work in Scott House over two days. New black display boards were an excellent addition this year and displayed the children’s work beautifully.

The Research Award

The Research Award ran for Preps 3 and 4 this year, as a whole department guided project. The chosen theme was the “UK”, and all children submitted a project book alongside some models, baking and other supplementary work. The work was showcased in the Dining Room after school and was extremely wellattended by many of the parents in the Lower Junior dept. Holroyd Howe created a UK based menu for refreshments, including traditional dishes from across the UK.

Out of Hours Provision

The wraparound care we provide at Lady Barn continues to be a key provision of the school day. Open from 7:45 am, the drop-off service is busy, encompassing Breakfast club. Although this area is not widely used, it is a good option and it is available daily. A great facility for our busy parents it helps with the car park's flow. The ASC and Homework Club run to 6pm and form an essential facility for our busy parents, helping them navigate their childcare needs working alongside the extracurricular activities on offer.

Barney’s Breakout Holiday Club

Barney’s continues to be popular with both Lady Barn parents and the wider community. We have now offered the provision for three summers with consistent numbers. We mix our in-house facilities at school with external providers offering fun and exciting new experiences for the children. Everything from sport including archery and fencing, Woodland Days to spin art, Gymnastics, Circus days and Bubble days, Craft and Science days, Laser quest was a big hit this summer, along with seasonal, themed activities and always a party and disco at some point. We continue to seek new and exciting activities for the children. Activities are highlighted on the school socials daily, which parents appreciate, and at dismissal we share any special moments from the day which the children love too.

We are flexible with our timetable of events and can work around the weather making full use of the site when the weather is kind to us and being organised and creative to provide fulfilling activities when it is not. We offer structure, choice and encourage and credit good behaviour with stickers and certificates.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Financial review

Results, reserves policy and financial viability

The directors have considered the level of unrestricted reserves which would be reasonable given the nature of the school activities and obligations. Unrestricted reserves are required to fund improvements and

enhancement of the premises and site as well as being necessary to provide cover for expenditure in the event of a significant fall in income. It is also considered that 10% of income is an appropriate surplus for the school to aim to generate each year.

Commented [AW3]: The school has no restricted rererves Commented [AW4]: also Commented [AW5]: appropriate

Financial projections are carefully reviewed and monitored by the board, and generating an adequate level of surplus each year is necessary to sustain the future of the School. The school has £3.06m of unrestricted funds (2023: £2.9m),and holds an amount £581k (2023: £531k) in long term investments, which does not contribute to the day to day working capital requirement. Financial forecasts indicate an improving level of surplus which will be used to build the unrestricted fund position of the school, as well as the measures listed;

In these unpredictable times, the need for clear leadership, strong governance and effective decision making based on reliable information is more important than ever.

Directors deem the maintenance of facilities to the highest standards to be essential for the School's future success. During the year, significant capital projects were funded from the trading surplus generated.

Going Concern

The academic year 2023/4 saw growth in pupil numbers via the addition of a third nursery class. The continued success of the in-house holiday club further secured the school’s income and financial stability. Budgets and cashflow forecasts have been considered in light of a number of scenarios in an unstable market and Governors are confident in the continued financial success of the school.

Governors’ sub-committees meet regularly and more than once a term and have more time to discuss sector and school issues in depth to develop strategic plans. This gives an agile approach to guiding the strategic progress of the school.

Strategic Report and Viability Statement

The Senior Team continue to undertake extensive sensitivity analysis and scenario planning, and whilst pupil numbers are at the highest level in the history of the School, they have considered the potential need for swift cost cutting if required.

Numbers remain strong through the school but a clear focus has been given to the marketing and admissions department to establish clear future strategies. The marketing strategy has been refreshed to focus on the core offering of the school and USPs of the school.

Having prudently considered the debt capacity of the School, together with the expected ongoing demand for places and the School's future projected cash flows, the Governors have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the School's financial viability. Accordingly, they also continue to adopt the going concern basis in preparing the financial statements.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Governors have considered options available to the School and would in future consider leveraging assets as required.

Investment policy and objectives

The board and the finance sub-committee duly advised by a professional investment managers continue to monitor investment risk and rewards in the context of the market. The main objective is to safeguard the charity’s assets by providing stability and ensuring a low to medium level of risk. Cash management is considered as part of this policy to ensure the appropriate balance of long, and short term, investments as well as meeting the seasonal cashflow of the school during the year.

Overall, the strategy of investment is to earn an income yield of around 3% p.a. During the financial year a yield of approximately 6% was achieved.

The account manager regularly updates Governors via updates and briefings to the finance committee. The risk profile of Governors is also reviewed regularly.

Principal funding

Incoming resources for the charity increased by 17.2% to £6,367,444 (2023: £5,434,411).

Fundraising

The school had no fundraising activities requiring disclosure under S162A of the Charities Act.

Plans for future developments

Principal Risks and uncertainties

The board track all perceived risk once a year via the risk register. Each committee monitors the areas relevant to it at each meeting and takes appropriate action to mitigate risk as much as possible.

The principal ramifications of the risks and uncertainty faced by the school are:

The school will continue to monitor and mitigate the impact of these areas.

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LADY BARN HOUSE SCHOOL LIMITED TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Statement of Trustees’ responsibilities

The Trustees (who are also directors of Lady Barn House School Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. 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.

Provision of information to the auditors

Each of the persons who are Trustees at the same time when this Trustees’ report is approved has confirmed that:

This report was approved by the Trustees on _____ and signed on their behalf by:

J Flynn

Chair

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REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF LADY BARN HOUSE SCHOOL LIMITED

Opinion

We have audited the financial statements of Lady Barn House School Limited (‘the charitable company’) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, Balance Sheet and Cash Flow Statement and notes to the financial statements, including 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:

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 Auditor’s 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 UK, including the FRC’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 provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's 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 not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's 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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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 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.

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REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF

LADY BARN HOUSE SCHOOL LIMITED

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company 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 trustees 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 trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF

LADY BARN HOUSE SCHOOL LIMITED

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, Employment legislation and Health & Safety.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF LADY BARN HOUSE SCHOOL LIMITED

Use of our report

This report is made solely to the charitable company’s 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 company’s members those matters we are required to state to them in an auditor’s 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Vicky Szulist Senior Statutory Auditor For and on behalf of Crowe U.K. LLP St George's House 56 Peter Street Manchester M2 3NQ

Date:

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LADY BARN HOUSE SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME FROM:
Charitable activities

School fees
2
Investment income
Other income
3
4
Total incoming resources
EXPENDITURE ON:
Charitable activities
Education
5
Total expenditure
NET (OUTGOING)/INCOMING
RESOURCES BEFORE
GAINS AND LOSSES ON INVESTMENTS
Net gains / (losses) on investments
11
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
The notes on pages 22 to 33 form part of these financial statements		 2024
Total
Unrestricted
funds
£
5,507,667
28,214
831,923		 2024
Total
Unrestricted
funds
£
5,507,667
28,214
831,923
2023

Total


Unrestricted
funds
£
4,625,431
25,285
783,695
5,434,411
5,703,840
5,703,840
(269,429)
(48,398)
(317,827)
3,297,724
2,979,897

6,367,444
6,321,487
6,321,487
46,317
36,669
82,986
2,979,897
3,062,883

.

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LADY BARN HOUSE SCHOOOL LIMITED

BALANCE SHEET Registered Number: 02986515 AT 31 AUGUST 2024

Note
FIXED ASSETS
Tangible assets
10
Fixed asset investments
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT LIABILITIES
NET ASSETS
TOTAL UNRESTRICTED FUNDS
17		 2024

£
2,662,289
581,491
3,243,780		 2023 3
£
2,995,795
531,667
3,527,462
167,517
(137,043)
30,474
(578,038)
(547,565)
2,979,897
2,979,897
273,837
812,769
1,086,606
(1,267,503)
(180,897)
3,062,883
3,062,883

The company’s financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the Board of Governors on

and were signed on its behalf by:

J Flynn

Chair

The notes on pages 22 to 33 form part of these financial statements

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LADY BARN HOUSE SCHOOOL LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024

Note 2024 2023 2023
£ £ £ £
Net cash inflow from operations
Net cash provided by operating 20
activities 1,117,837 (114,472)
Cash flows from investing
activities
Investment income: dividends 28,214 25,285
Purchase of tangible fixed assets (183,084) (466,716)
Purchase of investments (227,740) (540,281)
Disposal of investment 208,188 527,862
Drawdown of investment 6,397 201,803
(168,025) (252,047)
Change in cash and cash 949,812 (366,518)
equivalents in the reporting
period
Cash and cash equivalents at the (137,043) 229,475
beginning of the period
Cash and cash equivalents at the 21
end of the period 812,769 (137,043)

The notes on pages 22 to 33 form part of these financial statements

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared in accordance with 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 2022) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the companies Act 2006.

Lady Barn House School Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised as historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The senior team have undertaken extensive sensitivity analysis and scenario planning and in turn have considered the potential need for swift cost cutting. However, at present numbers remain strong and the marketing strategy has recently been reviewed and refreshed to focus on the core offering of the school, including;

Having reviewed the funding facilities available to the School together with the expected ongoing demand for places and the School’s future projected cash flows, the Governors have a clear expectation that the School has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the School’s financial viability. Accordingly, they also continue to adopt the going concern basis in preparing the financial statements.

Company status and general information

Lady Barn House School Limited is a charitable company limited by guarantee incorporated in England and Wales. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The address of the office and principal place of operations is Schools Hill, Cheadle, Stockport, SK8 1JE.

The principal objectives of the company are a) to establish and maintain a school at Cheadle, Greater Manchester for the academic and physical education of young persons of both sexes (b) to instruct the staff of such school and other persons to qualify them to promote the aforesaid purposes (c) to promote any other charitable purposes of an educational nature.

Incoming resources

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributed to single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributed to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of asset’s use.

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the company’s education operations including support costs and costs relating to the governance of the company apportioned to charitable activities.

Tangible fixed assets and depreciation

A review of impairment of fixed assets is carried out if event or changes in circumstance indicate that the carrying value of any fixed assets may not be covered. Shortfalls between the carrying value of fixed assets and their recoverable amount are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure account.

Tangible fixed asset are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Deprecation 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 - Over useful economic life
Fixtures - 15% straight line
Computer equipment - 33% straight line

Investments

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 balance sheet date, unless fair 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 shown in the heading ‘Gains/(losses) on investments’ in the statement of financial activities incorporating income and expenditure account.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the bank.

Operating leases

Rentals under operating leases are charged to the same statement of financial activities incorporating income and expenditure account on a straight line basis over the lease term.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at Bank and in hand

Cash at bank and in hand includes cash and a short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES

Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debit or the amount it has received as advance payments for goods or services It must provide. Provisions are measured at the best material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within the interest payable and similar charges.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Pensions

The teaching staff are members of the Government’s Teaching Defined Benefits Scheme. The TPS is an unfunded scheme. Contributions to the TPS are calculated so as to spread the cost of pensions over employees’ working lives with the School in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a projected unit method. The TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently there is insufficient information available to use defined benefit accounting and therefore it is accounted for as a defined contribution scheme, with the amount charged to the statement of financial activities being the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either other creditors or prepayments Fund accounting

General funds are unrestricted funds which are available for us at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the entity’s accounting policies which are described above, the Governors are required to make judgments, estimates, assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the Governors, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

2. CHARITABLE ACTIVITIES – FEES RECEIVABLE

Fees receivable consist of:

2024 2023
£ £
Gross Fees 6,415,587 5,428,508
Less: bursaries, grants and allowances (907,920) (803,077)
Total School fees 5,507,667 4,625,431

Discounts, bursaries and other awards were paid to 164 pupils (2023: 240). Within this meanstested bursaries totalling £176,582 were paid to 28 pupils (2023: £155,116 to 27 pupils).

3. INVESTMENT INCOME

2024 2023
£ £ £ £ £
£		 £
Investment income 15,949 20,550
Bank interest receivable 12,265 4,735
28,214 25,285
4. OTHER INCOME
2024 2023
£ £
£		 £
Extra-curricular activities Extra-curricular activities 180,941 250,278
Donations 15,308 23,165
Grant income 495,135 412,892
Lettings & Hire income 5,344 3,123
Trip Income 128,109 94,237
Miscellaneous income 7,086 -
831,923
783,695		 783,695
5. ANALYSIS OF EXPENDITURE
Staff Costs Depreciation Other costs Other costs
Total		 Total
2024 2023
Charitable expenditure
£ £ £		 £ £ £ £ £ £ £ £ £ £ £ £
£		 £
Education 3,978,063 516,591 1,761,017 1,761,017
6,255,672		 5,648,093
Governance costs - - 65,815 65,815
65,815		 55,747
3,978,063 **516,591 ** **1,826,832 ** 2
**6,321,487 **		 5,703,840

4. OTHER INCOME

5. ANALYSIS OF EXPENDITURE

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

6. GOVERNANCE COSTS

2024 2023
£ £
Auditors' remuneration 15,940 15,100
Professional fees 49,875 40,646
65,815 55,746
NET (OUTGOING)/INCOMING RESOURCES
Net (outgoing)/incoming resources are stated after charging:
2024 2023
£ £
Depreciation - owned assets **516,591 ** 469,767
AUDITORS REMUNERATION
2024 2023
£ £
Fees payable for the audit of the annual accounts 13,450 12,800
Fees payable in respect of Teachers Pension Scheme 1,150 1,050
All other non-audit services not included above 1,300 1,250

7. NET (OUTGOING)/INCOMING RESOURCES

8. AUDITORS REMUNERATION

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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9. STAFF COSTS

2024 2023
£ £
Wages and salaries 3,120,454 2,878,752
Social security costs 323,700 283,659
Other pension costs 533,909 469,630
3,978,063 3,632,041
Aggregate employee benefits of key management personnel 964,696 827,383
The average monthly number of employees during the year was as follows:
2024 2023
Teaching and administration 102 115
Salary costs have increased during the year reflecting the significant increase in Teachers’ Pension
employer contribution from April ’24.
The number of higher paid employees in bands of: -
2024 2023
£60,000 to £70,000 3 2
£70,000 to £80,000 1 1
£80,000 to £90,000 1 -
£90,000 to £100,000 - 1
£100,000+ 1 -

Salary costs have increased during the year reflecting the significant increase in Teachers’ Pension employer contribution from April ’24.

During the year no trustees received any remuneration (2023: £nil). During the year no trustees received any benefits in kind (2023: £nil). During the year no trustees received any reimbursement of expenses (2023: £nil).

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

10. TANGIBLE FIXED ASSETS

Freehold Fixtures and Computer
Property - Fittings Equipment Totals
Land and £ £ £
Building
£
COST
At 1 September 2023 3,749,100 2,255,007 593,941 6,598,048
Additions - 139,299 43,785 183,084
Disposals - (2,383) (54,239) (56,622)
At 31 August 2024 3,749,100 2,391,923 583,487 6,724,510
DEPRECIATION
At 1 September 2023 2,233,699 941,864 426,689 3,602,252
Charge for the year 91,939 343,903 80,750 516,591
Disposals (2,383) (54,239) (56,622)
At 31 August 2024 2,325,638 1,283,384 453,200 4,062,221
NET BOOK VALUE
At 31 August 2024 1,423,462 1,108,539 130,287 2,662,289
At 31 August 2023 1,515,401 1,313,142 167,252 2,995,795

11. FIXED ASSET INVESTMENTS

Unrestricted Total Total
Funds 2024 2023
£ £ £
Market Value @ 1 September 2023 531,667 531,667 769,449
Additions 227,740 227,740 540,281
Disposals (210,476) (210,476) (527,862)
Revaluations 36,669 36,669 (48,398)
Drawdown (6,397) (6,397) (201,803)
Market Value @ 31 August 2024 579,203 579,203 531,667
Listed on UK Stock exchange 579,203 579,203 531,033
Cash deposits 2,288 2,288 634
581,491 581,491 531,667

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

12. DEBTORS

12. DEBTORS
2024 2023
£ £
Trade debtors 90,261 58,431
Other debtors 103,223 14,064
Prepayments and accrued income 80,353 95,022
273,837 167,517
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 82,451 -
Social security and other taxes 146,966 141,080
Other creditors 311,385 153,208
Accruals and deferred income 726,701 283,750
1,267,503 578,038
Deferred income
£
Deferred income at 1 September 2023 208,946
Resources deferred during the year 576,078
Amounts released from previous years (208,946)
Deferred income at 31 August 2024 576,078

Deferred income comprises of tuition and school trip fees paid in advance.

14. OPERATING LEASE COMMITMENTS

At 31 August 2024 the total of the charity’s future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
Less than one year 16,250 -
Between two and five years 3,500 -
19,750 -

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

15. CAPITAL COMMITMENTS

At 31 August 2024 the total of the charity’s capital commitments which were authorised and contracted for amounted to Nil (2023: £Nil).

The School intends to fund future commitments out of cash flow.

16. Teachers’ Pension Scheme

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £529,559 (2023: £472,629) and at the year-end £60,797 (2023 - £51,575) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023.

Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation has valued the ‘greater value’ benefits for groups of relevant members.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

17. MOVEMENT IN FUNDS

Statement of funds
At 1 September At 31
2023 Incoming Resources Gain on August
resources expended expended investments 2024
£ £ £ £ £ £
Unrestricted funds
General fund
2,979,897		 6,367,804 (6,321,487) (6,321,487) 36,669 3,062,883
Total funds
**2,979,897 **		 **6,367,804 ** (6,321,487) 36,669 3,062,883
At 1 At 31
September Incoming Resources Loss on August
2022 resources expended investments 2023
£ £ £ £ £
Unrestricted funds
General fund
3,297,724		 5,434,411 (5,703,840) (48,398) 2,979,897
Total funds
3,297,724		 5,434,411 (5,703,840) (48,398) 2,979,897
Analysis of net assets between funds – current year
Fixed assets Net current Long term Long term
Total
liabilities liabilities liabilities 2024
£ £ £ £
Unrestricted funds
3,243,780		 (180,897) - 3,062,883
Analysis of net assets between funds – prior year Analysis of net assets between funds – prior year
Fixed assets Net current Long term Long term
Total
liabilities liabilities liabilities 2023
£ £ £ £
Unrestricted funds
3,527,462		 (547,565) - 2,979,897

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

18. RELATED PARTY TRANSACTIONS

A number of the trustees at the School who held office for at least part of the year had children enrolled at the School during the year. The children attended the school on the same terms as the other pupils. Apart from the above there are no other related party transactions that require disclosure.

19. FINANCIAL INSTRUMENTS

2024 2023
£ £
Financial assets measured at amortised cost (a) 193,484 72,495
Financial assets measured at fair value (b) 581,491 531,667
Financial liabilities measured at amortised cost (c) 544,818 365,55

(a) Financial assets include cash, fee debtors, other debtors (see note 12)

(b) Financial assets held at fair value include assets held as investments

(c) Financial liabilities measured at amortised cost include deposits, trade creditors, other creditors (see note 13) and overdrawn bank balances.

Impairment losses charged to financial assets measured at amortised cost in the year amounted to £nil.

20. RECONCILIATION OF NET (OUTGOING)/INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING ACTIVITIES

2024 2023
£ £
Net incoming/ (outgoing) resources 82,986 (317,827)
Depreciation charges 516,591 469,767
(Gains)/ losses on investments (36,669) 48,398
Dividends, interest and rents from investments (28,214) (25,285)
(Increase)/ decrease in debtors (106,320) (60,607)
Increase/ (decrease) in creditors 689,465 (228,918)
Net cash inflow from operating activities **1,117,837 ** (114,472)

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LADY BARN HOUSE SCHOOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

21. ANALYSIS OF CASH AND CASH EQUIVALENTS

2024 2023 2023
£ £
Cash in hand 812,769 812,769
(137,043)
Overdraft facility repayable on demand - - -
812,769 (137,043)
22. RECONCILIATION OF NET DEBT
At 1 September At 31 August At 31 August
2023 Cashflow 2024
£ £ £
Cash in hand, at bank (137,043) 949,812 812,769
Bank overdraft - - -
Total (137,043) 949,812 812,769

22. RECONCILIATION OF NET DEBT

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