Chai-ity registi'ation numbei.: 1047219
The Copsewood Education Trust
Trustees, Report and Financial Statements
for the year ended 31 st December 2023
mca Banbury Ltd
Unit 4-6 Tl)e Wharf Centre
Whai"f Street
Waiwick
CV34 5LB

The Copsewood Education Trust
Contents
Refei'ence and Adininisti'ative Details
Trustees, Report
2to5
Independent Auditors, Report
6t09
Consolidated Statement of Financial Activities
Consolidated Balance Sheet
12
Balance Sheet
13
Consolidated Statement of Cash Flows
14
Notes to Ihe Financial Statements
15to27

The Copsewood Education Trust
Reference and Administrative Details
Trustee5
Mr Mai'cus Clarke
Mi- Ronnie Mitchell
Mr Guy Douglass
Mi. Ross Ellis
Mr Garth Bushnell
Mr Laurie Mitcliell
Charity RegÈstration Number
1047219
Principal OffIce
Long Street
Atherstone
CV9 IAE
Auditor
mca Banbury Ltd
Unit 4-6 The Whai'f Centre
Whai'f Street
Warwick
CV34 5LB
Bankers
Lloyds Bank PIC Coveiitry
CAF Bank Ltd
Kiiigs Hill
West Malling
Kent
ME19 4JQ
Page I

The Copsewood Education Trust
Trustees, Report
The trustees present theii. annlial i-eport togelhei. with the financial statenienls and auditoi's, I'epoit of the charity for the
year ended 31 December 2023. The Trustees have adopted the pi'ovisions of Accounting aiid Repoiling by Charities..
Statement of Recoininended Practice applicable to chai-ities prepai'ing tl)eir accounts in accoi'dance with the Financial
Repoitii)g Standard applicable in the UK aiid Republic of Ireland (FRS102) (effective l January 2019).
Objectives and activitie5
Objecls nii¢l Iiiiiis
The chai'itable objects of the chai'ity are the advancemenl of the education of children and young people from the ages
five to eighteen in particulai. by assistance to theii- pai'ents lo enable such childi'en to be taught otherwise than at school
as defined in the education acts 1944 to 1993. Any other chai'itable purpose foi. the benefit of the brethren.
In furtherance of its objects, the Trust pi'ovides pi'emises iindei. formal lease for an independent school based in Long
Sti'eet, Atherstone, CV9 IAE which has been run by Oneschool Global UK {OSGUK).
The chai-ity also pi-ovides donation flinding to OSGUK al the disci'etioii of the Trustees in order to enable OSGUK to
provide a well balanced education al primary and secondary levels, for children and young people whose pai-ents
appreciate the Christian ethos.
Success is measured in tei'ins of the provision of appi'opi'iate facilities to OSGUK whilst minimisiiig expendittire. Thi5
in turn, fi'ees up funds foi. raising standards of education for all Concerned and for the improvement of facilities for
pupils and staff alike.
Tlie Ti'ustees have referi'ed to the guidance contained in the Charity Coinmi55ion's genei'al guidance on piiblic benefit
and have I'egard to it when reviewing theii. aims and objectives, and in planniiig their futui'e activities. In particular
they coiisider how planned activities will contribute to the educational aims and objectives they have set.
Volunteers al'e an integi'al part of tlie commiinity etlios and values of the charity and there are strong and willing group
of volunteers who assist and support the charity througlioiit the yeai..
The trading activities of the chai'ity's trading subsidiary Factor 4 UK Limited (06434882), which operates a cliain of
conveiiieiice stol'es, are llndertakeii by volunteers.
Page 2

The Copseivood Education Trust
Trustees, Report
Finaneial review
The cl)ai'ity is supported and financed principally by profits from its ti'ading subsidiary Factoi- 4 UK Limited plus other
ad hoc donations and those raised by fundi'aising events and gi-ants from the Gl'ace Tiust. The Ti'ust also wholly owns
Baginton Gi'een Liniited (06668857) which was established foi. the purposes of building a new school building foi. the
Gi'oup. The Trustees believe that the charity's funds are sufficient to mitigate any shoi'l to medium term risk of reduced
fui)ding.
The chai'ity's fundraising events pi'incipally opei'ale within tlie Brethren community and pi'ofessional fundraisei's are
not used. Neither the chai'ity nor any pei'son acting on behalf of the chai'ity was subject lo an undeitaking to be bound
by any voluntary scheme for regulating fund-raising, or voluntaiy standai'd for fund-raising in I'espect of activities on
behalf of the ti'ust.
In the yeai. ended 3 1st Deceniber 2023 the cliarity repoi'led a net surplus of £64,034 (2022 surplus of £91,718). The
gi'oup repoited a net surpliis of £70,194 {2022 surplus of £80,053).
At the year end the chai'ity had net current assets of £161,054 (2022 net current assets of £170,105). The group
had net ciirrenl assets of £296,011 (2022 net curi'ent assets of £301,617).
The chai'ity's policy is lo maintain niinimum fl-ee resei'ves at a level which equates to six months, unrestricted
expenditure. This is appi'oximately £57,153. At the yeai. end 2023 the fl'ee reserves of the charity were £2,875,583
(3 1st December 2022 £2,939,617).
After making appi'opriate enquii'ies, the Trustees have a reasonable expectation that the charity has adequate resoiii'ces
to continue in operational existence foi. the foreseeable futui'e. Foi. this reason, it continues lo adopt the going conce17]
basis in prepai'ing the financial statements. Fuithei. details regai-ding the adoption of the going concern basis can be
foiind in the Accounting Policies.
Plans for future periods
Aiiiis (iiicl key objeclivesforfiiliireperiocls
The Ti'LlStees plan to coiitiiiue to support OSGUK to pi'ovide a quality and delivei. a consistent and higli level of
educatioiial experience and outcome foi. all students ai)d staff, in accordance with the chai'ity's ethos and values.
Page 3

The Copsewood Education Trust
Trustees, Report
Structure, governance and managenient
The Copsewood Education Trust is constituted by a Deed of Trust dated 9 May 1995, amended 2 August 2004, and
is regislei'ed with the Charity Cornmission for Eiigland and Wales.
The Ti'ustees iiaines are set out on page l. None of the Ti'ustees, nor any pei'son connected with them, I'eceived any
remuneration from the chai'ity in the yeai. ended 31 st Deceinbei. 2023 {yeai' ended 31 sl Decembei. 2022 £nil).
The powei. to appoint Ti'ustees is invested in the existing Trustees subject to the charity Deed reqiiii'ement.
Ti'LlStees are selected according to their own specialism in a parliculai. field and are expected to piii'sue that
specialism. New Trustees are instructed in the need to Completely adhere to the ethos and values of Ihe chai'ity.
New Trustees are appointed at chai'ity meetings and training is given by the outgoing trLlStee being replaced,
along with suppoit from fellow Trustees.
Principal Risks
The Ti'ustees have examined the niajor sti'ategic, business and opei'ational risks that the cliai'ity faces. The
Trustees al'e satisfied that the inajor i'isks identified have been adequately mitigated whei'e necessary. It is
recognised that systems can only provide reasonable but not ab501ute assurance that major risks have been
adequately Inanaged.
The principal i'isks lo the charity are..
risk of damage to the property held by the charity (ald)ougli the pi'opei'ty holds property insui7nce),'
risk of closure or relocation of the schooling by Oneschool Global UK (considei'ed iinlikely); and
risk of fall iii trading activities of the wholly owned trading subsidiaiy, either due to a fall in custoiner loyalty or a
significant inci'ease in suppliei. pi'ices (closely n)onitored by the ti'ading subsidiary dii'eclors who woiild then take
appi'opriate action).
There were no serious incidents relating lo the charity over the yeai. to repoit.
Page 4

The Copsewood Ei ducation Trust
Trustees, Report
Statement of trustees, responsibilities
The triistees are responsible for pi'epai'ing the Annual Report and the financial statements in accordance with
applicable law and United Kiiigdom Accounting Standai'ds (United Kingdom Geiierally Accepted Accoiinting
Practice).
The law applicable lo charities in England and Wales i'equires the trustees to prepai'e financial statements for each
financial year which give a Iriie and fail- view of the state of affairs of the charity aiid tlie group and of the incoming
resoui'ces and application of resoiii-ces of the chai-ilable group for that period. In preparing these financial statements,
the ti-ustees are required to..
select Suitable accounting policies and apply them consistently.
obsei've the methods and principles in the Charities SORP-
make judgements and estimate5 that are I'easonable and pi'udent;
state whether applicable accounting standai'ds, subject to any Inaterial depaitui'es disclosed and explained in the
financial statements. and
pi'epare Ihe financial stateineiits on the going concern basis iinless il is inappropi-iate to presume that the parenl
charitable company will continue in business.
The trLlStees are responsible for keeping pi-opei- accounting records that disc105e with i'easonable acciiracy at any lime
the fiiiancial position of the charity and the gi'oup and enable them to ensure that the financial statemeiits Coniply with
the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity deed.
They are also responsible for safeguarding the assets of the cliai'ity aiid the group and hence for taking i'easonable
steps foi. the prevention and detection of fi'aud and other ii-regularities.
The annual i'eport was approved by the trustees of the charity on...
Mi. Lalli'ie Mitchell
Tiiistee
Page 5

The Copseivood Education Trust
Indepeiident Auditor's Report to the Members of The Copsewood Educatlon Trust
Opinion
We have audited the.financial statements of The Copsewood Education Ti-ust (the 'chai'itable pai'elit coinpany,) and its
siibsidiaries {Il)e 'groiip') foi. the year ended 31 Decembei- 2023, which compi'ise the Consolidated Statement of
Finai)cial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes
lo the Financial Statements, including a siiininary of significant accounting policies. The financial repoitiiig
fi'ainework that has been applied in their preparalion is United Kingdom Accounting Standards, compi'ising Charities
SORP- FRS 102 'The Fii)an¢ial Reporting Standard applicable in the UK and Republic of Ii-eland, and applicable law
(United Kingdom Geiiei-ally Accepted Accounting Practice).
In our opinion the financial slateinents:
give a ti'ue and fair view of the stale of the group's and pai'ent charity's affairs as at 31 December 2023 and of its
incoming resources and application of i'esources, including its income and expenditiire, foi. the year then ended.
have been properly pi'epared in accordance with United Kingdom Generally Accepted Accounting Pi'actice. and
have been pi-epared in accoi'dance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted oiir audit li) accordance with Iiitei'national Staiidai'ds on Auditing (UK) (ISAS (UK)) and applicable
law. Our i-esponsibilities under those standards are furthei. described in the auditor i'esponsibilities for the audit of the
financial statements section of our report. We are independent of tlie gi'oup in accoi'dance with the ethical requirements
that are relevant to oui. audit of tlie financial statements in the UK, iiicluding the FRC'S Ethical Slandai'd, and we have
fulfilled our oihei. ethical i'esponsibilitie5 in accordance with these requireinenls. 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
lii auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting
in the pi'eparation of the financial statement5 15 appropriate.
Based on the work we have pei-formed, we have not identified any material unceilainties relating to events or
conditions that, individually oi. collectively, Inay cast significant doubt on tlie gioup's ability to continue as a going
coiiceim for a period of at least twelve n)onths fi-om when the original financial stateinents wei'e aulhorised foi. issiie.
Our i'esponsibilities aiid the I'espoiisibilities of the trustees with respect lo going concei-n al-e described in the relevant
sections of this i-epoi't.
Other information
The ti'ustees al'e i'esponsible for the other infoiination. The othei- informatioii coinpi'ises tlie information included in
the annual report, other than the financial statements and our auditoi s repoit thereon. Our opinion on the financial
statenients does not cover the other information and, except to tlie extent otlieiivise explicitly stated in our report, we
do not express any fom) of assurance conclusion ihereon.
Page 6

The Copsewood Education Trust
Independent Auditor's Report to the Members of The CopseTrvood Ei ducation Trust
In connection with our audit of the financial statements, oui. I'espoiisibility is to read the other information aiid, in
doing so, consider wl)elher Ilie other infoiination is niaterially inconsistent with the financial statements oi. our
knowledge obtained in the audit oi. othei-wise appears to be matei'ially misstated. If we identify sucli material
inconsistencies oi. apparent Inaterial niisstatemenls, we are requii'ed to detei'mine whelhei. there 15 a niatei'ial
misstatement in the financial stateinents or a matei-ial mi5Statement of the other informatioii. If, based on tlie woi-k we
have perforn)ed, we conclude that tliere is a Inatei-ial misstatement of this other inforniation, we are required to report
that fact.
We have nothing to report in this regard.
Matters on which ive are required to report by exception
We have Iiothing to repoit in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to i-epoit to you if, in our opinion:
the infoiination given in the Ti'iistees, report is inconsistent in any material respect with the financial statements;
or
the parent charity financial stateinents al-e not in agreeinent with the accoiinting records and returns. or
the pai'ent chai'ity has not kept sufficient accouiiting recoi'ds; oi-
we have not i-eceived all the infoi'mation and explanations we I'eqiiire for our audit.
Responsibilities of trustee5
As explained moiE fully in the Statement of trustees, responsibilities (set oiit on page 5), the ti'ustees are responsible
foi. the pi'eparation of tlie financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the trustees detei'mine is necessaiy to enable the pi'eparalion of financial statements that are fl'ee
rrom Inatei'ial misstateinent, whether due to fraud or eri-or.
In preparing the financial statements, the trustees al'e i'esponsible for assessing the chai'ity's ability lo continue as a
going conceiTh, disclosing, as applicable, matters I'elaled to going concern and using tlie going concei'n basis of
accoiinting unless tlie trustees eithei. inteiid to liquidate the charity or to cease operatioiis, or have 110 realistic
alternative but to do so.
Auditor responsibilitie5 for the audit of the financial statevnents
Our objeclives are lo obtain reasonable assui'ance about whethei. the fiiiancial statenieiit5 as a whole are fi'ee fi'om
material misstateinent, whethei. due to fi'aiid or ei'i'or, and to issue an auditor's I'epoit tliat includes oui. opiIiion.
Reasonable assiii'aiice is a high level of assurance. But is not a gua17ntee that an audit conducted iii accoi-dance with
ISAS (UK) will always detect a material misstatement whei) it exists. Misstatements can arise fi'om fi'aud or eiTOI' and
are considered matei'ial if, individually oi. in the aggregate, they could I'easonably be expected to influence the
economic decisions of usei's taken 011 the basis of these financial statements.
The extent to which olli. procedures are capable of detecting irregularities, including fraud is detailed below..
The engagenient paitnei- ensui'ed that the engagement teain collectively had the appi'opriate competence, capabilities
and skills to ideiitify oi. recognise non-coinpliance with tlie applicable laws and i'egulation5.
We assessed the susceptibility of the coinpany's financial stateiiieiits to inatei'ial misstatement, including obtaining
an understanding of how fi'aiid Inight occur, by..
Page 7

The Copseivood Education Trust
Independent Auditor's Report to the Members of The Copsewood Education Ti"ust
Making enquiries of Inanagement as to where they considered there was susceptibility to fi'aud, their kiiowledge
of actual, suspected and alleged fraud. and
Considering the internal conts'ols in place to mitigate risks of fraud and non-compliai)ce with laws and
i'egulations.
To address the risk of fraud tlii'ough Inanagenient bias and override of conti'o15, we:
Perfoiined analytical procedures to identify any unusual oi. unexpected relationships.
Tested journal enti-ies to identify unusual transactions.
Assessed whethei. judgements and assumptions made in determining the accounting estiniates ivei'e indicative of
potential bias. and
Investigated the 17tionale behind significant or iinllsiial transactions.
In response to the risk of iri'egulai-ities and non-compliance with laws and i'egulations, we desigiied procedures which
included, but wei'e not limited to:
Agreeing fiiiancial statenient disclosiires lo llndei-lying supporting documentation
Enquii'ing of management as to actual and potential litigation and claims.
Thei-e al'e inherent liniitatioi)s in our audit procedures desci-ibed above. Tlie more removed those laws and I'egulations
al'e fi-om finaiicial transactions, the less likely it is that we would becoine aware of non-compliance. Auditing standai'ds
also limit the audit pi'ocedures requii'ed to identify non-compliance with laws aiid regulations to enquii'y of the direcloi's
and othei. managemei)t. Material misstatements that arise due to fraud cali be hardei. to delect than those that ai-ise fi-om
error as they may involve deliberate concealment oi. collusion.
As part of an audit in accordaiice with ISAS (UK), we exercise pi'ofessional judgement and maintain pi-ofessional
scepticisin throughout the audit. We also..
Identify and assess the i'i5ks of material misstatement of the fmaiicial slatenients, whether due to fraud or errol.,
design and perfoi'in audit procedures i'esponsive to those i-isks, and obtain audit evidence that is sufficient and
appropriate to piDvide a basis foi. our opinion. The risk of not detectiiig a inatei'ial misstateinent I'esulting froin
fraud is highei. than for one resulting from eiTOI', as fraud may involve collusion, forgery, intentional omissions,
Inisrepresentatioiis, oi. the override of internal control.
Obtain an undei-standing of internal coiiti'ol relevant lo the audit in ordei- to design aiidit procedui-es that are
appropi'iate in the cii-cuiiistances, but not for tlie puipos¢ of expi-essing an opinion 011 tlie effectiveness of tlie
company's internal control.
Evaluate the appi'opriateness of accounting policies used and the reasonableness of accouiiting estimales and
IElated disclosures made by the dii'ectors. Evaluate the appi'opriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosui'es made by the directoi's.
Concliide on the appropriateness of the directors, use of the going concern basis of accounting and, based on the
audit evidence obtained, whethei- a matei-ial uncertainty exists i'elated to events oi. conditions that may cast
significant doiibt on tlie chai'ity's ability to continue as a going concern. If we conclude that a Inalerial iincertainty
exists, we are reqiiired to di'aw attention in our Repoit of the Allditois to the i'elated di5closui.es in the financial
statements oi., if such disclosiii'es are iiiadequale, lo modify our opinion. Oui. conclusions al'e based on the audit
evideii¢e obtained up to the date of oui. Repoit of the Auditois. However, future eveiits or coiiditions may cause
the company to cease to continue as a going coiicern.
Page 8

The Copsewood El ducation Trust
Independent Auditor's Report to the Members of The Copsewood Education Trust
Evaluate the ovei'all pi'esentation, sti'iieture and content of Ihe financial statements, including the disclosures, and
whether the financial statements I'epi'esent the underlying ti'ansactions and events in a Inannei. that achieves fair
presentation.
We define materiality as the magnitude of misstaternent in the Financial Statements that makes it pi'obable that the
econo)nic decisions of a I'easonably knowledgeable persoii would be changed oi. influenced. We iise materiality
both in planning and in the scope of oiir audit woi'k and in evaluating the I'esults of our work.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit. We cominunicate with those chai'ged with govei'nance regarding, aillong othei. Inattei's, the planned
scope and timing of tlie audit and significant audit findings, including any significant deficieiicies iii intei'nal control
that we identify diiring our audit.
A fuither description of our responsibilities is available on Il)e Financial Reporting Council's website at..
www.fi'c.org.uklauditoi'si'e5ponsibilities. This description forms part of our auditor'5 I'eport.
Use of our report
This repoit is made solely to the cliarity's ti'ustees,, as a body, in accordance with Pai't 4 of the Charities (Accoiints and
Reports) Regiilations 2008. Oui. audit woi'k lias been undertaken $0 that we might state to the group's trustees those
matters we al'e i-equii'ed to state to thein iii an aiiditor's repoit and for no othei. purpose. To the fullest extent permitted
by law, we do not accept or assume i-esponsibility to anyone other than the charity and it5 tt-ustees as a body, for our
audit work, for this report, or for the opinions we have foiined.
Martin Cox {Senior Statutory Auditoi.)
For and on behalf of Inca Banbuiy Ltd, Statutoiy Aiiditor
Unit 4-6 The Wharf Centre
Wliarf Street
Warwick
CV34 5LB
Date..
1210912024
Page 9

The Copseivood Ei ducation Trust
Consolidated Statement of Financial Activities for the Year Ended 31 December 2023
(Including Consolidated Income and Ei xpenditure Account and Statement of Total
Recognised Gains and Losses)
Uni'estrieted
fund5
Total
2023
Note
Intome and Endowments from:
Donations and legacies
Charitable activities
Investnient income
Othei. income
154,449
3,439
117
1,702,747
154,449
3,439
117
1,702,747
Total income
1,860,752
1,860,752
Expenditure on:
Raising funds
Charitable activities
{1,445,389)
(485,557)
(1,445,389)
(485,5571
Total expenditui'e
(1,930,946)
(1,930,946)
Net expenditure
(70,194)
(70,1941
Net movement in funds
(70,194)
(70,1941
Reconciliation of funds
Total funds brought foiward
3,113,016
3,113,016
Total funds cai'ried foiward
18
3,042,822
Unrestricted
funds
3,042,822
Total
2022
Note
Income and Endoivments from:
Donations and legacies
Charilable activities
Investment in¢oine
Othei. incoine
129,732
5,000
56
1,630,962
129,732
5,000
56
1,630,962
Total income
1,765,750
1,765,750
Expenditure on:
Raising fi]nds
Chai'itable activities
(1,379,837)
(305,862)
(1,379,837)
(305,8621
Total expenditure
(1,685,699)
(1,685,699)
Net iiicome
80,051
80,051
Net movement in funds
80,051
80,051
The notes on pages 15 10 27 form an integral part of these financial statements.
Page 10

The Copseivood Education Trust
Consolidated Statement of Financial Activities for the Year Ended 31 December 2023
(Including Consolidated Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Total
2022
Note
Reconciliation of funds
Total funds bi'ought foiward
3,032,965
3,032,965
Total funds cari'ied forward
18
All of the groiip's activities derive fi-om continuing operations during the above two periods.
The funds breakdown for 2022 is shown in note 18.
The notes on pages 15 to 27 form an inlegi'al pail of these financial stateinents.
Page 11

The Copsewood Education Trust
Consolidated Balance Sheet as at 31 December 2023
2023
2022
Note
Fixed assets
Tangible assets
12
2,746,811
2,811,399
Curreiit asset5
Stocks
Debtors
Investments
Cash at bank and in hand
14
124,108
88,405
67,500
157,009
109,423
49,724
67,500
212,808
15
16
437,022
439,455
Creditors.. Amounts falling due ivithin one year
17
(141,011)
(137,838)
Net current assets
296,011
301,617
Net assets
42
Funds of the group:
Unrestricted income funds
Unrestt'icted funds
3,042,822
3,113,016
Total funds
The financial slateinents on pages l O to 27 were approved by the trustees, and authorised for issue on
and signed on their behalf by:
Mr Laurie Mitchell
Trustee
The notes on pages 15 to 27 foi'in an integi?I part of these financial statements.
Page 12

The Copsewood Ei ducation Trust
Balance Sheet as at 31 December 2023
2023
2022
Note
Flxed assets
Tangible assets
Investments
12
2,714,525
2,769,508
2,714,529
2,769,512
Current assets
Debtoi's
Investments
Cash at bank and in hand
15
16
16,586
67,500
63,410
67,500
129,089
147,496
196,589
Creditors: Atnount5 falling due Ivithin oiie year
17
13,558
(26,484)
Net current a55ets
161,054
170,105
Net assets
2,875,583
2,939,617
Funds of the eharity..
Unrestricted income funds
Unirstricted funds
2,875,583
2,939,617
Total funds
18
2,875,583
2,939,617
The financial slalements on pages l O to 27 wei'e approved by the trustees, and authoi'ised for issue on
and signed on their behalf by..
aurie Mitchell
Trustee
The notes on pages 15 to 27 forni an integral pal't of these finaiicial statenients.
Page 13

The Copsewood Education Trust
Consolidated Statement of Cash Flows for the Year li nded 31 December 2023
2023
2022
Note
Cash floiys from operating activlties
Nel cash (expeiiditui'e)lincome
(70,194)
80,051
Adjustments to cash floivs from non-cash items
Depreciation
Investment income
74,564
(117)
73,475
(56)
4,253
153,470
Working Capital adjustments
(Increase)Ideci'ease in stocks
Inci'ease in debtors
Inci-ease in creditors
14
15
17
(14,685)
(38,681)
3,173
19,467
(13,073)
26,064
Net cash flows froin operating activitie5
(45,940)
185,928
Cash flows from investing activitie5
Interest receivable and similar income
Pui'chase of tangible fixed assets
117
(9,976)
56
(99,509)
12
Net cash flows from investing activities
(9,859)
(99,453)
Ca511 flows from finaneing activities
Repayment of loans and bori-owings
17
(i o,000}
Net (decrease)liiici'ease iii cash and cash equivalents
(55,799)
212,808
76,475
Cash and cash equivalents at l Jaiiuaiy
Cash and cash equivalents at 31 Deceniber
136,333
157,009
212,808
All of the cash flows are derived from continuing operations diiring the above two periods.
The notes on pages 15 to 27 forni an integral part of tliese financial staleineiits.
Page 14

The Copsewood Education Trust
Notes to the Financial Statements for the Year E4 nded 31 December 2023
l General Information
The Copsewood Education Trust is a charity registered in England & Wales. The address of the registered office is
given in the charity inforniation withii) these financial stalenients. Until 31 July 2019 the ti-ust operated an independent
school based in Athei'stone which educates approximately 160 pupils from 7 to 18 years of age. Since that date it has
continued to own aiid Inainlain the buildiiig from which the school is operated by another chai'ity, Oneschool Global
UK.
2 Accounting policies
Statenient of compliance
The financial statements have beeii pi'epai'ed in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Pi'actice (applicable to chai-ilies prepai'ing their accounts in accordance wilh the Finaiicial Reporting
Standard applicable in the UK and Republic of Irelaiid (FRS 102)) (issiied in Octobei. 2019) - (Charities SORP (FRS
102)), the Financial Reporting Standai'd applicable in the UK and Republic of li'elaiid (FRS 102) aiid the Chai'ity Act
2011.
Basis of preparation
The fiiiancial statements have been prepared to give a 'tt'ue and fair, view and have departed froin the Chai-ities
(Accounts and Repoits) regiilations 2008 only to the extent requii-ed to provide a 'true and fail view. This depaiture
has involved following the Charities SORP (FRS 102) published in Octobei. 2019 rather than the Accounting and
Reporting Charities.. Statement of Recommended Practice effective from l April 2005 which has siiice been
withdrawn.
The Copsewood Education Trust meet5 tlie definition of a public benefit entity under FRS 102. Assets and Siabilities
are initially recognised at historical cost or Ii'ansaction value iinless otherwise slated in the i'elevant accoiinting policy
notes.
Basis of consolidatio
Tlie Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial
statements of the Cliarity and ils subsidiary undertakii)g. The results of the subsidiaiy are consolidated on a line-by-
line basis.
The Charity has also taken advantage of the exemption availab5e to a qualifying entity in FRS 102 from the
i'equirement to present a Cliarity only statement of cash flow5 and certain disclosures about the Charity's fiiiai)cial
instruments within the consolidated financial statenients.
No separale SOFA has been prepared for the Cl)arity alone.
Going concern
The trustees considei. that there al'e no malerial uncertainties about the group's ability lo continue as a going concern
noi. any significaiit ai'eas of unceitainty that affect tlie cai'iying value of assets lield by the group.
Page 15

The Copsewood Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
Income
All income is recognised once the Chai'ity has entitlement to the incoine, it is probable that the iiicome will be
received and the amount of incoine receivable can be Ineasui'ed I'eliably.
The I'ecognition of income from legacies is dependeiit on establishing entitlement, the probability of receipt and the
ability to estimate with siifficient accui'acy the amount receivable. Evidence of entitlement to a legacy exists when the
Charity has sufficient evidence that a gift has been left to tliem (through knowledge of the existence of a valid will
and the death of the benefactoi.) and the executor is satisfied that the property in question will not be required to Satisfy
claims in the estate, Receipt of a legacy must be recognised wheii il is probable that it will be received and the fair
V81iie of the ainount receivable, which will generally be the expected cash amount to be disti'ibllted to the Charity, can
be reliably measured.
Grants are included in the Consolidated statement of financial activities on a receivable basis, The balance of incoine
received for specific purposes but not expended dui'ing the period is shown iii the relevant ftinds on the Balance sheet.
Where incoine is I'eceived in advance of entitlement of receipt, its recognitioii is defeii'ed and incliided in ci'editors as
deferred iiicome. Where entitlenieiit occui's before income is I'eceived, the income is acci'ued.
Income tax recoverable in relation to investnient income is recognised at the time tlie investtnent income is receivable.
oilier iiieoiiie
Interest on funds held on deposit is included when i'eceivable and the amount can be measui'ed reliably by the Group.
this is normally upon notification of the iiitei'est paid or payable by the institution with whom the fuiids are deposited.
Expenditure
Expenditiire is I'ecognised once there is a legal or constt-uclive obligation to t17nsfer economic benefit to a third party,
it is probable that a transfer of econoinic benefits will be I'equired in settlement and the amount of the obligation can
be Ineasui'ed i'eliably. Expenditure is classified by activity.
Expenditiire on charitable activities is incui-i-ed on dii'ectly undertaking the activities which furthei- the Group's
objectives, as well as any associated suppoi't costs.
All expenditui'e is inclusive of irrecovei-able VAT.
Tangible fixed assets
Tangible fixed assets costing £500 or mol'e are capitalised and i'ecognised wlien future economic benefits are pi'obable
and the cost or valiie of the asset can be measui'ed reliably.
Tangible fixed assets al'e initially recognised at cost. Aftei. recognition, linder the cost Inodel, tangible fixed asse15 al'e
Ineasiired at cost less accumulated depi'eciation and any accumulated impaiiThent losses. All costs incurred to bring a
tangible fixed asset into its intended woi-king coiidition should be incliided in the measui-ement of cost.
Page 16

The Copsewood Education Trust
Notes to the Financlal Statements for the Year Ended 31 December 2023
Depreciation aild amoi'tisation
Depreciation is charged so as to allocate the cost of tangible fixed assets less theii. I'esidual value ovei. Iheii. estiinated
useful lives. Assets costing less than £500 al'e wi'itteii off to SOFA in the year of pui'chase.
Asset class
Freehold pioperty
Plant & Machinery
Leasehold property
Depi-eciation method and rate
20/0 Straight Line
20 % Straight Line
I 00/0 Sti'aight Line
Current asset investments
Fixed asset investinen15 al'e a forni of financial instrument and are initially i'ecognised at their transaction cost and
subsequently Ineasured al fair value al the Balance sheet date, Iinless the value cannot be measured reliably in which
case it is measured at cost less iinpairment. Investment gains and losses, wheihei. i'ealised oi- uni'ealised, are coinbined
and presented as 'Gainsl(Losses) on investments, in the Consolidated statement of financial activities.
Investments in subsidiai-ies are valued at cost less provision for impairnient.
Stocli
Stocks are valued at the lower of c05t and nel realisable value after making due allowance foi. obsolete and
slow-moving stocks. Cost includes all dii'ect Costs aiid an appropriate pi'opoition of fixed aiid variable overheads.
Trade debtors
Trade and other debtors are recognised at the settlen]ent ainount after any li?de discount offered. Prepayments al'e
valued at the amount prepaid net of any trade discounts due.
Fund sti'ucture
General funds al'e uni'esti'icted fiinds which at'e available for use at the disci'etion of the Trustees in furtherance of the
gene171 objectives of the Gi'oup and which have not been desigiiated for otlier pui'poses.
Resti'icted funds are funds which al'e to be used in accordaiice with specific restrictions imposed by doiiors or which
have been I'aised by the Group foi. paiticulai- pui-poses, The costs of raising and administei'ing such funds are chai-ged
against the specific fund. The aim and use of each i-estt-icted fund is set oiit in the Iiotes to the financial statements.
Investment income, gaiiis and losses are allocated to the appropi'iate fuiid.
Financial instruinents
Clussificalioii
The Cliai-ity only has financial assets and financial liabilities of a kind that qualify as basic finaiicial instrumeiits. Basic
fiiiancial instt'uments are initially recognised at tran5actioii value and subseqiiently illeasui'ed at theii. settlement value.
Page 17

The Copsewood Education Trust
Notes to the Financlal Statements for the Year Ei nded 31 December 2023
3 Income from donations And legacies
Unrestricted
funds
General
Total
funds
Gifts and donations
154,449
154,449
154,449
Total for 2023
154,449
Total for 2022
129,732
129,732
4 Income from charitable activities
Unrestricted
funds
Geiieral
Total
funds
Rental Income
3,439
3,439
Total for 2023
3,439
3,439
Total for 2022
5,000
5,000
5 Income from other trading activities
Unrestricted
funds
General
Total
funds
Trading Income
Total for 2023
1,702,747
1,702,747
1,702,747
1,702,747
Total for 2022
1,630,962
1,630,962
6 Investment incorne
Unrestricted
funds
Genei'al
Total
funds
Bank Iiiterest
117
117
Total for 2023
117
117
Total for 2022
56
56
Page 18

The Copsewood Education Trust
Notes to the Financial Statements for the Year Ei nded 31 December 2023
7 Expenditu re on raising funds
a) Costs of trading activities
Uni'estricted
funds
Genei'al
Total
funds
Trading Costs
1,445,389
1,445,389
Total for 2023
144538
Total for 2022
83
8 Expenditure on charitable activities
2023
2022
Charitable activities
48
Page 19

The Copsewood li ducation Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
9 Analysis of support costs
Support costs allocated to charitable activities
Premises
costs
including
Other
support
Governance Adinini5tration
Total
costs
costs
depreciation
Costs
2023
Chai'itable Activities
29
Premises
costs
Administration including
costs
depreeiation
Other
support
costs
Governance
costs
Finance
costs
Chai'itable Activities
Total
2022
Cliai'itable Activities
Other suppoits costs al'e donations niade to OSG.
Staff costs are nil. The Copsewood Education Trust is run entii-ely by volunteers.
During the year the Copsewood Education Trust adjiisted their depreciatioi) policy which has led to an adju5tiiient to
the depreciation I'ecorded in the year.
Page 20

The Copsewood Ei ducation Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
10 Trustees, i'emiiiieration and expenses
No ti'ustees, nor any persons connected with them, have I'eceived aiiy remunei'ation fi'oin the group during the year.
No trustees have received any i'eimbui'sed expenses or any other benefits from the charity during the year.
I l Auditors, reTnuneration
2023
2022
Other fees to auditors
The auditing of accounts of any associate of the charity
All other noii-audit services
4,000
2,000
4,000
2,000
Page21

The Copsewood Education Trust
Notes to the Financlal Statements for the Year Ended 31 December 2023
12 Tangible fixed assets
Group
Land and
buildings
Furnilure aRid
equipment
Total
Cost
At l January 2023
Additions
3,139,101
111,508
9,976
3,250,609
9,976
At 31 December 2023
3,139,101
121,484
3,260,585
Depreciation
At l January 2023
Chai'ge foi. the year
369,593
54,983
69,617
19,581
439,210
74,564
At 31 December 2023
424,576
89,198
513,774
Net book value
At 31 Deceinber 2023
2,714,525
32,286
2,746,811
At 31 Deceinbei. 2022
2,769,508
41,891
2,811,399
Charity
Land and
buildiiigs
Total
Cost
At l January 2023
3,139,101
3,139,101
At 31 DeCeI￿ber 2023
3,139,101
3,139,101
Depreciation
At l January 2023
Charge foi- the year
369,593
54,983
369,593
54,983
At 31 December 2023
424,576
424,576
Net book value
At 31 Decembei. 2023
2,714,525
2,714,525
At 31 December 2022
2,769,508
2,769,508
Page 22

The Copsewood Education Trust
Notes to the Financial Statements for the Year Ei nded 31 December 2023
13 Fixed asset investments
Chai'ity
Shares in group undertakings and participating interests
Subsidiary
undei'takings
Total
C05t
At l January 2023
At 31 Decembei- 2023
Net book value
At 31 Decembei. 2023
Details of undertakings
Details of the investments in which the charity holds 200/0 oi. niore of the nominal value of any class of share capital
are as follows:
Country of
incorporation
Propoi-tion of voting rights Priiicipal
and sliares held
aetivity
Undei'taking
Holding
2023
2022
Subsidiary undertakings
Sale of retail
goods
Development
of buildimg
projects
Factoi. 4 UK Ltd
United Kingdom
loo%
loo%
Baginton Green Ltd
United Kingdom
14 Stock
Group
Charity
2023
2023
2022
Stocks
Page 23

The Copsewood li ducation Trust
Notes to the Flnancial Statements for the Year Ended 31 December 2023
IS Debtors
Group
Charity
2023
2023
2022
Trade debtors
Prepayments
Otlier debtors
68,970
2,840
16,595
47,730
1,994
16,586
16 Current asset investments
Group
Charity
2023
2022
2023
2022
Unlisted other shares
500
17 Creditors: amounts falling due Ivithin one year
Group
Charity
2023
2022
2023
2022
Bank loans
Trade creditois
Othei. loans
VA T grant repayable
Other creditors
Acci'uals
37,500
69,296
(17,500)
12,974
25,464
13,277
83,142
20,000
7,448
12,770
14,478
1,942
(17,500)
1,735
20,000
(i)
4,750
2,000
141
13
Page 24

The Copsewood Education Trust
Notes to the Financial Statement5 for the Year Ended 31 Decembei. 2023
18 Funds
Group
Balance at31
December
2023
Balance at I
January2023
Inconiing
resoui'ces
Resources
expended
Unrestricted funds
General
3 042 822
Balance at 31
Deeember
2022
Balance at I
January 2022
IncoJn ing
resoui'ces
Resources
expended
Uni'estricted fuiids
Genei'al
85
Charity
Balanee at31
December
2023
Bolaneeat I
Januai'y 2023
Incoming
resources
Resources
expended
Unrestricted funds
Gener01
Balance at 31
Deceniber
2022
Balance At I
January 2022
Incorning
resources
Resources
expended
Unrestricted funds
General
Page 25

The Copsewood Education Trust
Notes to the Financial Statements for the Yeai" Ei nded 31 December 2023
19 Analysis of net assets betiveen funds
Group
Unrestricted
funds
General
Total funds at
31 December
2023
Tangible fixed assets
Cui'reiit assets
Cui'i'ent liabilities
2,746,811
437,022
(141,011)
2,746,811
437,022
(141,011)
Total net assets
Uni'estricted
funds
General
Total funds at
31 December
2022
Tangible fixed assets
Current assets
Current liabilities
2,811,399
439,455
{137,838)
2,811,399
439,455
(137,838)
Total net assets
113
Page 26

The Copsewood Ei ducation Trust
Notes to the Financial Statements for the Year Ei nded 31 December 2023
Charity
Unrestricted
funds
Genei'al
Totk]I funds at
31 Deceniber
2023
Tangible fixed assels
Fixed asset investsnents
Current assets
Current liabilities
2,714,525
2,714,525
147,496
13,558
147,496
13,558
Total net asset5
Unrestricted
funds
General
Total funds at
31 December
2022
Tangible fixed assets
Fixed asset investments
Cui-i'ent assets
Current liabilities
2,769,508
2,769,508
196,589
(26,484)
196,589
(26,484)
Total net assets
20 Related pai'ty transactions
Charity
As stated in Note 14, Facloi. 4 Ltd was a wholly owned subsidiary undeitakiI)g of the Chai'ity. £263,519 wa5
i'eceived by the Chai'ity fi'on) the subsidiai'y under gift aid.
Page 27