Mary Hare Trustees, Report and Financial Statements For the year ended 31 August 2023 •} Securing the future of deaf children and young people RegI￿red number. 3085006 Registered charity number 1048386 MARY HARE (A company limited by guarantee) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Page Reference and administrative details of the company. its Govemors, Directors and Charity Trustees and advisors Twstees. report 4-20 Independent auditors, report on the financial statements 21-24 Consolidated slalemenl of financial activities 25 Con501idated balance sheet 26 Company balance sheet 27 Consolidated statement of cash flow5 28 Notes to the financial statements 29-54 MARY HARE (A company Ilmited by guarantee REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS, DIRECTORS AND CHARITY TRUSTEES AND ADVISORS FOR THE YEAR ENDED 31 AUGUST 2023 Welcome The year started with the opening of our brand-n8w Primary School and the yOL¢ngesl Mary Hare pupils entering their new school for the first lime. This was the culmination of a project of signrficanl undertaking - both in the planning and financing. Our commitment to building a Primary School for young deaf children, that meets all their needs and enables them lo learn in a language-rich environmènt. goes lo the heart of what Mary Hare sets out lo do. Every deaf child has the right lo access the same curriculum as any other child in the UK. Al Mary Hare we choose to do this by focussing on a few key aspects of a child's education.. A physical environment that enables maximum uso of residual hearing Specialist teachers. speech Iherapisls, audiologists and other professionals who understand their needs A focLES on the development of written and spoken English As the UK'S largest single cohort of deaf children and young people, there is the added benefit of providing a large peer group for every child and, perhaps even rnore importantly, the opportunty lo make lots of friends- something that is so often denied o dgaf child attending a mainstream school. So for the past year, we 01 Mary Hare have been continuing to do what we see as essential- that is lo support young deaf people along their journey to academic or vocational success. with the aim of equipping them for life after school. whether that be further education or a career. We see this as our mission. especially as so many deaf young people do not benefit from the same opportunities as their hearing peers. According lo a report published by the Education Policy Institute in March 2023, 'In 2019. the deaf children's attainment gap was equivalent lo 8.8 months of learning at key stsge 1 lage seven). 12.0 months al key stage 2 {age eleven) and 17.5 months al key stage 4 {age sixteen). The deaf GCSE gap can also be expressed as a gap in the mean grades for GCSE English and maths of 1.3 grades per subject. The syze of the gap in months is almost twice as large for GCSES as at key slage 1, and this reflects larger learning gaps as children get older and the school curriculum expects a greater volume and complexity of knowledge." In this Report we will highlight the achievements of the young people attending Mary Hare School and the support they get from a wide range of highly specialist, experienced professionals. We hope you will enjoy reading about some of these inspifational young deaf people and everything we have achieved during the year. Andrew Strivens. Chair of Governors Robin Askew, CEO and Principal Page 1 **MARY HARE** ## **(A company limited by guarantee)** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS, DIRECTORS AND CHARITY TRUSTEES AND ADVISOR$ (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** ## **Charity Trustees, Directors and Governors** A J Strivens (Chair) G M Bisset S A Butcher (Appointed 1 September 2022) D Clements (Appointed 1 September 2022) S Greenhalgh P J Ludlow (Resigned 7 July 2023) A N R McAlpine BJ McGhie AW McPhail M J E Penfold (Appointed 1 September 2022) T M Polack (Appointed 1 September 2022 -Deputy Chair from 25 September 2023) C M Rowles RA G Sanders-Rose QBE J P Sharpe (Resigned 31 July 2023 - Deputy Chair to 31 July 2023) J Shepherd (Appointed 16 January 2023) G L C Woods ## **Principal and Chief Executive Officer** R A Askew (Appointed 1 September 2022) ## **Chief Operating Officer and Company Secretary** PK Robson ## **Executive Team** RA Askew Principal and Chief Executive Officer EL Kennett Vice Principal - Pastoral J L McMillan Development Director P K Robson Chief Operating Officer S Stefano Director of Care S J Strudley Vice Principal -Curriculum and Achievement ## **Company registered Number:** 3085006 ## **Charity registered Number:** 1048386 ## **Address and Registered Office:** Arlington Manor Snelsmore Common Newbury Berkshire RG14 3BQ Page2 MARY HARE (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS, DIRECTORS AND CHARITY TRUSTEES AND ADVISORS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Independent Auditor Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL Bankers National Weslminsler Bank PLC 30 Market Place Newbury Berkshire RG14 5AJ Sollcltors Spires Legal Limited Oxford House Parkway Court John Smith Drive Oxford Business Park Oxford OX4 2JY Wilsons Solici(ors Alexandra House Sl Johns Street Salisbury SP12SB Page 3 MARY HARE (A Company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees submit their report and the audited accounts lor the year ended 31 August 2023 prepared in accordance with applicable accounting standards and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with tho Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectnie 1 January 20191. Mary Hare Grammar School for the Deaf was established as a charity in the late 1940$ in the form Of a charitabl8 trust. The charity was incorporated on 28 July 1995 under company number 3085006 and the name of the company was changed on 28 February 2005 to Mary Hare. The charity is registered with the Charity Commission under number 1048386. The Trustees, Directors and Governors. the principal Company officers, the registered Offi￿ and the professional advisors are as shown under the Reference and Administrative detsils on pages 2 and 3. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng Documents On 3 November 2016, a Resolution was passed lo approve the revised Articles ol Association which were thereby adopted as the document under which the company is governed. These replaced the former Memorandum and Articles ofAssoci81ion. Board of Trust¢gs l Governing Body The Charity Trustees are directors, members and Governors of the Company. The Trustees are appointed by the Board of Trustee5, subject to retirement and Te*lection procedures al a General Meeting. Full details are contained in the ¢ompanrfs Artides of Association. The Board of Trustees has estsblished sU￿)mMitteeS to deal with certain specifie aspects of Mary Hare's affairs. The principal sub-committees and memberships in the year were.. Comm5tt¢e Membership Care & Educatlon Committee Finance Committee J Sharpe {Chair to 31.07.231 S Butcher (from 1.09.22- Chalr from 27.11.23) D Clements S Greershalgh P Ludlow {to 7.07.23} A McPhail M Penfold Ifrom 1.09.22} R Sanders-Rose A Slrivens G Bisset Ichairl A McAlpine M Penfold (from 1.09.221 J Shepherd {from 16.01.23) A Slrivens HR & Governance Commltteg CEO Performance Panel A Strivens (Chairl B McGhie T Pola¢k (from 1.09.221 C Rowles J Sharpe Ilo 31.07.231 J Sharpe (Chair lo 31.07.231 P Ludlow (to 7.07.231 A McPhail (Chair from 27.11.231 A Slrivens T Pollack (from 27.11.23} Page 4 MARY HARE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 New Trustees are inducted into the workings of the Charity on appointment and appropriate training is arranged. Organisatlon Mary Hare The Trustees determine the general policy and strategy of Mary Hare and have various duties in respect of appeals Pro￿dureS and safeguarding. The Prin¢ipaVChief Executive Officer of Mary Hare coordinates total resources and activities across the range of Mary Ha￿ interests and activrties. Other senior roles also have responsibilities across the organisation, reflecting the broader slru¢lure of Mary Hare activities. Mary Hare School For the year ended 31 August 2023, the day lo day management of Mary Hare School was the rèsponsibility of the Chief Executive Officer. Robin Askew, working with the Executive Team and for the school the Senior Leadership Team. Robin was appointed as Principal and CEO from 1 September2022 following the retirement of Peter Gale on 31 August 2022. Mary Hare Professlonal Courses This division coordinates the provision of training both in postgraduate educatson of teachets of the deaf and training of professionals and pradilioners in deaf education and audiological science. As well as providing for variety of award bearing courses. il runs a range of day courses and conferences. The Bunvood Contre The Centre provides independent assessments for babies and children diagnosed with a hearing loss. The Cenlre's income is derived from assessment fees paid by the families. charitable donations and support from unreslricled income. The reports produced are wholty independent and Mary Hare is determined lo uphold the independence of the Burwood Centre. Mary Hare Services Llmited The company is a wholty owned trading subsidiary of Mary Hare carrying out commercial aclivtties to raise funds for Mary Hare. Activities include rental of facilities including the Arlington Arts Centre for events and the main campus and grounds for a summer school. Mary Hare Services Limited is not a registered charity. The Mary Hara Foundatlon The Mary Hare Foundation is a separ*e charity established under a trust d$ed in 1991. The sole purpose of the Foundation is lo raise funding for major Capital programmes and other projects undertaken by Mary Hare. Vision Securing the future of deaf children and young people. Mlsslon Mary Hare transforms the lives of deaf children and young people by off8ring them a highly specialist leaching and leaming environment where they develop their understanding and use of English and achieve their full polenlial. The School supports them lo increase their ￿nfidenCe and self-e5teem and the resilience they will need lo succeed on leaving school. Pupils are educated in a safe and happy environment where friendships can ￿ourish. Page 5 MARY HARE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Strategic Aim$ Build our expertise in d8Jaf education to further develop a curriculum which provides fuifilment to all our students and facilitates their becoming engaged members of society. Evaluate the nature of MH students of the future to inlorm long term planning. Work for continuous improvement in Care with the aim of achieving Outstanding in Care inspection Support families to secure a place al Mary Hare Seh¢ol and ensure whole school numbers remain viable. Provide a voice for families of deaf children choosing a special school for their chikl by communicating our key messages lo the outside worfd, including policy makers. Revisit the sile development plan with particular regard lo the vocational building and new facilities for Sports, dance and drama while simultaneously a￿d￿ssing the fabric of the existing secondary school. Maximise the relum from our commercial activities, both existing and new developments, for the benefit of Mary Hare. To develop staff unity by promoting a 'one school. approach with all departments working together in support of the overall aims and values of the school. Key messages Mary Hare School is the largest special school for deaf childron and young people serving the needs of deaf young people from all over the UK. Mary Hare School immerses deaf children in spoken and written English with the aim of closing the language gap and enabling them to access the full national curriculum. Mary Hare School removes barriers lo leaming for deaf childien. Mary Hare is one school serving the needs of deaf children from Reception age to Sixth Form. Mary Hare School enables ils pupils to leam and socia]ise within a peer group of deaf young people. Mary Hare School supports the choice of parents about where they want their child lo be educated. Mary Hare School offers a full curriculum including GCSES, BTecs and A levels with highly specialised support with the aim of improving the life chances of the young people attending. Prlnclpal Activities Mary Hare School is atthe heart of Mary Hare's work. Ourfocus is on providing an education fordeaf children and young people through spoken and written English. W& put language atthe centre ofourapproach coupled with the expertise of teachers, speech therapists, audiologists and other specialist professionals. We use technology to oplimise the learning experience along with a physical environment that favouts the use of residual hearing. Mary Hare is a Non-mainlained Special School for deaf children and young people from 4- 18 years of age. opefating from a single campus near Newbury. PLtpils come from all over the UK with a small number from overseas. Mary Hare's Professional Courses Division trains teachers of the deaf through poslgraduale eourses provided in partnership with the University of Hertfordshire. Page 6 MARY HARE (A company limlted by guarantse) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Commercial activities carried out by our trading subsidiary Mary Hare Services Ltd include the letting of school facilities for an inlemalional language school and lo other organisalions. the lelling of the swimming pool for swimming lessons and various other communrty Uses,. and the letting of the Arlington Arts Centre for commercial theatre. conferences and other events. Income from all Mary Hare's commercial 8Ctivilies provtdes the school with additiorial funds. STRATEGIC REPORT Robin Askew took up his new role as CEO and Principal on 1st September. Addressing the whole organisation at the start of the academic year, he said he was looking fotward to focussing on the basics.. Leading by example,. being visible., listening and reflecting on feedback. demonstrating commitment.. showing fairness and consistency and embracing change. He summarised by saying. We are an inspirational school where pupils can achieve their ambitions and we help ensure their future independence. We are ambitious in what we want to achieve for our pupils and for our sf(e developrnenl. We have the potential lo be outstanding and we musl work together a5 one Coaordinaled body of staff who share the same high expectations and standards.. With the building of the new Primary School on the main campus, Mary Hare has pul an emphasis on promoting a'one School ethos, throughout the o¥ganisalton. This has meant that staff in the Secondary School have been able lo support some leaching in the Primary School. On a more practical level the chiklren al the Primary School can now walk lo the swimming pool rather than lrnvel the six mile journey from the old site. and have been able to join in whole school events like the Rernembran￿ service in front of the manor. In January 2023 the School was inspected by Ofsted Social Care and the School was judged lo be 'Good'. The inspectois said.. 'Children receive support from dedicated staff who are passionate and enthusiastic. Childien make great progress academically, and many spoke oflheirgiowing confidence and sense of idenlty since joining the school. Children speak powerfully of the journey from mainstream education into specialist provision. which for some through the tribunal process has been a challenging and prolracled process. They highlight a sense of belonging, the value of a shared experience and the strong friendships ?nd bonds that they make with other children.. 'Thinking Matters. was launched in the Primary School and 'Thinking Frames. has been embedded across the curriculum in secondary. The aim is to strengthen pupil independent leaming skills, equipping them with transferrable skills. There has also been an emphasis on encouraging reading for pleasure with a review of reading data and turrenl assessments. Pupils showing less progress in reading hav& been offered additional support. Further up the School in 6 Form the has been a review of pathways for KS4 including EBACC subjects and an altemalive curriculum pathway. with the aim of offerbng pupils a more inlorffled options process leading to appropriate pathways for individual pupils. This year saw the introduction of BSL as a formal qualification al KS415 to refflect the Government's new recognised slalus of BSL. The technology used in the classroom to amplify pupils and staff has been completely upgraded to a wireless system. This was achieved wf(h some support from donations lo the Mary Hare Foundalion1£40.0001. AII pupils have microphones and are able to connect via streaming devices to their own personal amplification systems. All this continues to put the emphasis on being able lo hear both the teacher and other pupils, lo encourage pe$r lo peer leaming. Page 7 MARY HARE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2023 During the yearwe Irialled Ihe'Brilliant Club. program lo support disadvantsged pupils. The Brilliant Club is a registered charity that works with schools and universities across the UK. They mobilise the PhD community to 5UPPOrt student who are less advantagèd lo access the most competitive universities and succeed when they get there. PhD tutors share their subject knowledge and passion for leaming with small groups of pupils al Mary Hare we have concentrated on Year 8 and this project will continue into 2024. We have been promoting opportunities for community engagement and inclusion of faf(h groups within assemblies and to that end welcomed two visiting speakers.. Rabbi Zvi, leading work on understanding Judaism and Sakhya Prima delivered an assembly and wothshops relating lo HindL*ism and Dwali. A fvll review of school software systems (including the use of SIMS) was introduced with the aim of consolidating dats and making best use of existing and new SO￿are systems. This will lake al least 2 years to complete. During the year there were numerous events and extraway dialogue be￿een staff and the Trustees. Using the OTg8nisation's recruitment and development stratègies, Trustees seek to attract and relain talented staff. Trustees ale committed to promoting a healthy workforce comprising both physical and mental wellbeing. The organisalion embraces diversty and aims lo employ a workforce that reflects this. In seeking lo achieve a balanced workforce at all levels, the organisalion ensures that no prospective employee or existing employee who is an applicant will be disadvantaged or treated less favourably because of eondilions or requirements that are not related lo the job. Reasonable adjuslmenls will be made lo arrangernenls and premises to ensure equal access foi employees or potential employees who have parti¢ular needs or disabilities. Suppllers Trustees hav8 8Stablished organisation procedures and protocols, primarily through ils Financial Management and Health and Safety policies, ensuring external suppliers are individually compliant with the health and safely, regulatory and financial securty standards required by Mary Hare. The organisation seeks to pay all suppliers any undisputed amounts due within agreed terms. Mary Hare has established financial controls for the safety and security of supplier bank infomiation, reducing the risk of fraud against eilh9r the supplier or Mary Hare. Mary Hare has procurement procedures in place that ensure fair competition amongst suppliers and aims lo achieve the best value for the organisation. Page 18 MARY HARE (A Company limited by guarantee) TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Community and the envlronment Mary Hare lakes ils role within the communty very seriously and promotes and encourages community and charitable contribution as part of the overall public benefit provided by the Charity. Although onty a minority of pupils are from the immediate local community. Mary Hare is an important local employerand is well-respecled within the local community for ils engagement and the commercial and voluntary use of ils facilities. including the Adington Arts Centre and swimming pool. The organisalitin also recognises the importance of its environmental responsibilities and is increasingty introducing measures lo monitor and eonlrol ils impact on the local environment and compliance with regulatory environmental standards. Work wntinues lo engage with staff and pupils, implementing policies and initiatives aimed at reducing any potential detrimental environmental impact of its aelivilies. Standards and conduct Mary Hare sets itself high standards in the way il manages ils relalion5hips with famili¢s, pupils. staff, suppliers, Customers and the wider community. The overall aPPToach is founded on the principles of acknowledging and valuing diversity, respect for others. compliance with equal opportunities legisl*ion, commitment to inGlusion. elimination of unfair prejudice and discrimination, and a Commitment to the positive development of all stsff and pupils. This Is sUPPOrted by a numbgr of codes of practice and policies relating to behavioural and ethical standards, both individually and collectively as an organisation. These are clearly communicated to every staff member al induction and through regular training and development days and adherence to whi¢h is expected and enforced. Ac¢ountlng Responsibilities The Trustees (who are also directors of Mary Hare for the purposes of company lawl are responsible for preparing the Trustees. report lincluding the Group strategic report) and the accounts in accordance wrth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Ac￿pIed Accounting Praclicel. Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the slate of affairs of the group and of the incoming ¥e50urces and application of resources. including the income and expendiluie, of the group for that period. In preparing th¢se accounts, the Trustees are required to-. seled suitable accounting policies and then apply them consistently.. obseNe the methods and principles in the Charities SORP.. make judgments and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any m81erial departures disclosed and explained in the accounts., prepare the accounts on a going Con￿rn basis unless il is inappropriate to presurne that the group and company will continue in operation. The Trustees are responsible for keeping adequate accounting records which disclose with Teasonable accuracy 81 any time the financial posf(ion of the group and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and hence for takin9 reasonable steps for the prevention and detection of fraud and other irregularities. Page 19 MARY HARE IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Statomant of Disc105ure So far as the Trustees are aware at the time the report 1$ approved..- there is no relevant audit infomiation of which the charitable company's auditors are unaware, and the Trustees have taken all slep5 that they ought to have taken to make themsefves aware of any relevant audit informatiorb and lo estsblish that the auditors are aware of that information 15. 234ZAI21}. Audltor The audilors, Crowe U.K. LLP, will be proposed for reappointment in accordance with Section 485 of the Companies Act 2006. Approved by order of the members of the Board of Trustees and signed on their beha￿ by.. A J Strivens jchalrj {Chair of Trustees) Date.. (Lr-m 2oLL Page 20 Crowe clo￿ U.K. LLP MemberoICr￿ Global Awls House 4￿7 Blaoiave st￿et 8erKshire RG11PL. UK Tel +44101118 959 7222 Fax +4410)118 958 4640 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MARY HARE Oplnlon We have audited the Iirsan¢ial statements of Mary Hare for the yea¥ ended 31 August 2023 which comprise the consolidated Stslemenl of Financial Activities, the consolidated Summary Income and Expenditure Account, the GTOUP and Company Balance Sheets, the consolidated Cash flow Statement and notes to the financial slalements, including a summary of significant accounting policie5. The ffnancial 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 {Uniled Kingdom Generalty Accepted Accounting Practice}- In our opinion the financial sL*emenls'. give a true and fair view ofthe state of the group's and the charitable company's affairs as al 31 August 2023 and of the group's incoming resources and application of resources, including ils income and expenditure for the year then ended., have been properly prepared in accordanee with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance wtth the requirements of the Companies Act 20&S. Basls for oplnlon We conducted our audit in a¢¢ordance with International Standards on Auditing (UK} IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit of the financial statements section of our report. We aTe independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical Tesponsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is SUff￿lent and appropfiale lo provide a basis for our opinion. Conclusions relating to golng concern We have nothing lo report in respect of the following matt&rs in relation to which the ISAS IUKI require us lo report lo you where.. the trustees, use of the going concem basis of accounting in the preparation of the financial statements is not appropriate., or the Iruslees have not disclosed in the ffnan¢ial slalemenls any identrfied material uncertainties that may cast significant doubt about the group's o¥ the charitable company's ability to continue lo adopt the going concern basis of accounting for a period of al least twelve months from the dale when the financial slalements are aulhorised for issue. u.￿ LLP ￿ a Ilnied IML¥lrty Partr￿rg￿* W*$ fiumbpiOC3070S& TM otkn l& At ¥ Lwè E¢4PA 7JW. Allslotth• LLP'Smem￿tsits 4wAI*IO w5tgredoffl￿ UKtythP1n￿￿￿nttY Prathh CT(w¢V.K LLP1s Ea￿M￿￿1￿1ty¢ic[ry￿G￿￿I1￿Iqp￿￿I•ar￿1r￿￿p￿thnt￿￿￿￿Sty. Crtyq U K LLP •r*lls4fflM•lqsaionDI urawthrmembarotCrowvCdOb*. Page 21 A Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MARY HARE (CONTINUED) Other Infomiatlon The Iruslees are responsible for the other infomialion. The other infomalion comprisos the infgrmation included in the annual report, other than the financial slalements and our audilorfs report thereon. Our opinion on the financial statements does not cover the other information and, ex￿p1 lo the extent otherwise explicitly stated in our report. we do not express any fomi gf assurance conclusion thereon. In connection with our audit of the financial Statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or our knowledge obtained in the audit or otherwise appears lo be matèrially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misstatement in the financial slalemenls or a material misslalemenl ofthe other information. If, based on the work we have performed, we conclude that there is a material mi$slatemenl of this other information, we are required to report that fact. We have nothing lo report in this regard. Opinions on other matters prescribod by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit the information given in the trustees. report, which includes the directors, report and the strategic report prepared foT the purposes of Company law, for the financial year for which the financial statements are prepared is consistent with the financial slalemenls." and the strategic report and the directors, report included wf(hin the Iruslees, report have been prepared in accordance wrth applicable legal requ1￿mentS. Matters on whlch we are required to report by exception In light of the knowledge and understanding of the group and the charitable company ancl their environment obtained in the course of the audit, we have not identified material mi$statements in the Istralegic report or thel directors, report included within the tfustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you rf, in our opinion.. the pafent company has not kept adequate accounting re¢ords', or the parent company financial statements are not in agreement with the accounting records and returns., QT certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Responslbllltlgs of trustees As explained more fully in the IrLJStees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial stslemenls and for being satisfied that they give a true and fair view. and for such internal control as the Iruslees dolermine is necessary to enable the preparation of financial slalemenls that are free from material misslalemenl, whether due to fraud or error. Page 22 A Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MARY HARE {CONTINUED> In preparing the financial slalements, the trustees are responsible for assessing the group's or the charitable company's ability to continue as a going concern. disclosing. as applicable. matters related lo going concern and using the going con￿rn basis of accounting unless the trustees either intend lo liquidate the charitable company or lo tsase operations, or have no realistic allemalive bul to do $0. Auditor's responslbllities for the audlt of the flnancial statements Our objectives are lo gbtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl. whether due lo fraud or error. and to issue an audilorfs report that includes our opinion. Reasonable assurance Is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will a￿ayS delect a material misslalemenl when il exis15. Misstatements can arise from Iraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial stalemenls is located on the Financial Reporting Council's website at.. www.frc.or -uklaudilorsres onsibililies. This description fomis part of our audilorfs report. Irregularities. including fraud. are instances of non-compliance with laws and regulations. We idenlrfied and assessed the risks of material misslalemenl of the financial slalemenls from irregularities, whether due lo fraud or error, and diseussed these be￿een our audit team members. We then designed and performed audit procedures responsive lo those risks, including obtaining audrt evidence sufficient and appropriate lo provide a basis for our opinion. We obtained an understanding of the ￿gaI and regulatory framoworks within which the charitable company operates. focusing on those laws and regulations that have a direct effect on the delemiinalion of material amounts and disclosures in the financial slalernenls. The laws and regulations we considered in this context were the Companies Act 2006, Charities Act together with the Charities SORP {FRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial slalemenl items. In addition, we considered provisions of other laws and regulations that do not have a direct effed on the financial slalements but Compliance with which might be fundamental to the charitable company's ability to operate or to avoid a material penatty. We also considered the opportunitie5 and incentives that may exist within the charitable company for fraud. The laws and regulations we Considered in this context were the Education Act, Employment Law, Heakh and Safety, General Data Protection Regulations. Safeguarding and Food Standards. Auditing standards limit the required audit piocedures to rdenlify non-compliance with these laws and regulations lo enquiry of the Governors and other management and inspection of regulatory and legal eorrespondence, rf any We identified tho greatest risk of material impact on the financial ststements is from irregularities. including fraud. lo be within the override ol controls by management. Our audit procedures to respond lo these risks included enquiries of management. and the Finance Committee about their own idenlificalion and assessment of the risks of irregularities. sample testing on the posting of joumals, reviewing accounting eslimales for biases. reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance. Owing to the inherent limrtations of an audit, there is an unavoidable risk that we may not have detected some material misstslemenls 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 {2511 806 771 37.482 255 (15.528) (463) 1.911 518 Closing deflned benefit obligatlon Movements in the fair value of the group's share of scheme assets were as follows: 2023 £000 2022 £000 Opening fair value of scheme assets Interest income Actuarial gains Contributions by employer Conlribulion$ by scheme participants Benefits paid Administration expense8 16.436 714 {1.4101 779 198 12511 14,902 250 741 767 255 1463J 16 Closlng falr value of scheme assets 25. Related Party Transactions Close family members of trustees are paid a total salary of £23,88712022-. £nil)- All close relatives who are, or have been, employed by the School have a standard contract of employment and their salaries ale determined by the role within the School's pay banding slrncture and approved by the School's standard aulhorisation processes. Any general pay award increases across all staff or cohorts of staff are approved by the Trustees. 26. Mary Hare Foundation As noted in the Report of the Board of Trustees. Mary Hare is associated with the Mary Hare Foundation, a charitable trust (Regislralion No. 10026801. The purpose of the Mary Hare Foundation is to raise significant funding for major capital and other projects undertaken by Mary Hare. The Foundation financial statements are made up to 31 August. Its nel assets at 31 August 2023 were £96,000 {2022.. £134,000). Total funds raised in the year lo 31 August 2023 were £431,000 {2022'. £1,166,000). Mary Hare bears the administration costs of the Foundation. In the year to 31 August 2023 lolal costs were £105,000 12022.. £103,000}. Further details of the Foundation can be obtained from Arlington Manor, Snelsmore Common. Newbury. During the period the Foundation has donated funds of £442,00012022.. £1,530,000) to Mary Hare. Page 53 MARY HARE (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 27. Subsidiary lolnt venture investments Mary Hare Services Ltd has investments in three other entities. Two are incorporated as limited companies in England and Wales, the Hearing Aid Repair Shop IUKI Ltd and Mary Hare Total Hearing Solutions Ltd. During the year ended 10 July 2008 a limited liability partnership venture was set up, Mary Hare Hearing Centres LLP. All are jointly managed and controlled by Mary Hare Services Ltd and a third party, with the risks and rewards of ownership split equally beNveen these parties. Therefore, in accordance with relevant accounting standards all have been Ir&ated as 50Qh joint ventuies of Mary Hare Services Limited. The Hearing Aid Repalr Shop IUKI Ltd Mary Hare Services Ltd has a 500h interest in this company by way of owning issued share capital of £1. The Hearing Aid Repair Shop IUKI Ltd was incorporated on 5 January 2001 with ils principal actThiity being the repair of hearing aid5. 11 prepares accounts to 31 December. For the year ended 31 December 2022 the company reported a profit of £12,00012021.. £13,000} and as al 31 December 2022 had net assets of £48.00012021.' £47,000). Mary Hare Total Hoaring Solutions Ltd During the year ended 10 July 2008 the Company transferred all assets and liabilities with the exception of the inlereompany balance to the new joint venture partnership. Mary Hare Hearing Centre LLP, and is domiant. with net liabilities of £45,00012022.. £45,000). Mary Hare Hearing Centres LLP Mary Hare Hearing Centres LLP commenced trading on 1 January 2008 with rts principal activ¢ty being the assessment of hearing and provision of aids for the hearing impaired. It prepares accounts to 31 December. For the year ended 31 December 2022 the LLP reported a profft of £70,00012021'. £135,OOLII and as at 31 December 2022 had net assets of £187,000 {2022.. £135.0001. Mary Hare servI￿s Ltd has an interest in Mary Hare Hearing Centres LLP by way of loan. As al 31 August 2023 the loan was £53,000 12022.. £53,000). Flnan¢ial Instruments Financial instruments held al amortised cost are trade deblofs, other debtors, intercompany debtors, cash at bank. trade creditors, other ¢redi(ors and accruals. 2023 2022 £000 £000 Group Financial assets measured al amortised cost Financial liabilities measured at amortised cost 4.992 4,041 S¢hool Financial assets measured al amortised cost Financial liabilities measured al amortised cost 4,765 3,917 The income, expense. gains and losses in respect of financial instruments are summarised below: 2023 2022 Group and School Total interest income for financial asse15 held at amortised cost Page 54