REGISTERED COMPANY NUMBER: 03301881 (England and Wales) REGISTERED CHAIUTY NUMBER: 1060403 Report of the Trus¢ees and Fln*nclAI Statementy for the Year EDded 31 August 2024 for Chaigeley Educatlonal FoundAtlon
Chalgeley Edueatlonal Foundation Content5 of the Flnanclal St&temeDt5 for the Year Ended 31 August 2024 Page Chlr of Trustees Report Report of the Trusteeg Report of the Indeptndent Audltors 7 10 10 Statement of Flnancll Actlvltles B4lADce Sheet 12 Cash Flow Statement 13 Notes to the Cosh Flow Statement 14 Notes ¢0 the Flnanelal Statements 15 10 26 De¢alled StAtement of Financial A¢tlvltles 27 to 28
Chal2eley Educational Foundatlon Chair of Trustees Report for the Year Ended 31 August 2024 l am pleased to be able to report that the school ha8 had a yet mor¢ 8uccessful year in Tnany ways. We havc consolidakd our financial position, and are now finally conformant with our r¢s¢rvcs policy, enabling us to free more resOu¢S to invest in the children's education and development We were visitcd by Ofsted in January for an ungraded inspection, resulting in a very positivc continuation of our Good rating. The Board wish to recognisc thc hard work and dedication of all the stsff to achieve that excellent result. We have been able to idcntify funds io invest in a very ne¢essary upgrade to ow s¢hool IT rcsources, with a new rcliable network. and up to date workstations for the staff and pupils, ensuring that the IT they use al school reflects accurately the IT they will use when they leave and develop their ¢ar¢¢rs. We have also been able to revamp and r¢n¢w our workshop facilities to be able to offer wider ranging occupaiional courses, with more forn]al qualification5. As ever the Chaigclcy siie and buildings continuc to offcr ncw challenges - this year the large pond in our forest school grounds, showed evidcncc of unwelcome potentially dangerous bacterial infection. to resolve thi5 we have had to empty and fill in the pond a not inconsiderable task involving thousands of tons of infill. At the same time, we have also fully renovated our school dining area, with both inside and outside eating space. The dining room now is now a fully-fiedgcd 'diner', lar more welcoming to the children, 8nd has resulted in a significant upturn in the number of children choosing lo eat their lunch together. We have continued developing our cuThiculum offering and therapy provision, focusing on pupils, key skills, mental health and career offerings. Our cutTiculum developmcnt is focusing on ensuring continuity between KS 2 and 3 in all major areas, following feedback from Ofsted. Following thc resignation of key subject teacheT$ in the last t¢rni, we have been successful in recruiting experienced English and Maths teachers lo help driv¢ the cU1CulUrn development. One area that wc continue lo focus on is Staff mental hcalth and wellbeing. In addition lo our wellbcin¥ service providiny access lo various pod¢asts and access to mental health support in addition lo physiotherapy, wei¥hi m&na¥¢ment, menopause support, we hav¢ further developed our new fvlly equipped staff r(pom, and are now in the process of developing under-ulilised space Ithal is not suitable for classrooms) lo provide a larger gym, and more individual meeting rooms. We continue 10 work closely with our providcrs, supporting them as they wnlinue lo be challenged by the increasing number of children needing special educa(ional support. We have managcd to reorganise and provide an additional (ew places and are now able to provide for ai Icast 60 pupils - more than at any time in the last 20 years. We continue to talk to them about how best we can meet their specialisi needs. W¢ do not see any further potential in developing the sile for morc pupils - more pupils mean more staff, and would seriously risk the overcrowding of the site lo the detriment of the children'5 wellbeing. It is really plcasing for myself and the trustee board to continue to see the progression of the school and we would like to thank the hard work and d¢diLation of all our staff who have all contributed lo our success. A special mention should also go to our skillcd and dedicated estates team, who continue to implement tnany of the projects themselvcs in a most cost-effectivc and professional manner Wlll Howell Chilr of Trustees Page I
Chaigeley Educatlonal Found*don (Reglstered number: 03301881) Report of the Tru$tee8 for the Year Ended 31 August 2024 The truslecs who arc also directors of the charity for the putposes of the Companie5 Act 2006, prcsent their report with the finan¢ial statements of the charity for th¢ ycar ended 31 August 2024. The trustees hav¢ adopted the provisions of Accounting and Reporting by Charities.. Siatcment of Recomtncnded Practice appli¢abl¢ to ¢hariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Charltable Objectlves And Principle A¢tlvlty The principal object of the charity is to advance the education of children with social emotional, mental health and other complex needs. Th¢ ¢harkty operates a non-maintained special school, Chaigeley School, a special school approved by the Dcpartment for Education, for boys girls aged eight to six¢een. Alms and ObJt¢tlves Chaigeley School educates and caters for children and young people with social, eTnotional and mental health needs. It is a non-Tnaintained special school which serves as a resource for Local Authorities whose own provision ha5 not been able ¢0 meer the need5 of the pupil. Pupils arc rcferrcd to Chaigelcy School by Local Authorities from acmss ihc country but primarily from Ihc Northwest of England. The number of pupils varies between 45 and 60. numbers fluctuate throughoui the year depending upon the needs of pupils necding a specialist setting. Chaigeley aims lo provide support and educational programmes io enable pupils lo reach their potcnlial academically and to develop their social, emotional and behavioural maturity. By doing so pupils can move on from Chaigeley being able to make infornied choices about their fuiure. A furihcr aim of Chaigeley is to prepare pupils for a return to education in their home environmenl, prefcrably in a mainstream schuol. Whcrc this is not possiblc, pupils are encouraged lo successfully complete their education al Chaigeley by obiaining qualifiralions and skills allowin¥ them lo participate positively within their community to achieve economic wellbeing and feel llY included. In setting our objectives and planning our activities ihe Trnstees have given careful Consideration to the Charity Commission's general guidance on public benefit. Chaig¢ley's main objective over the next three years is lo build on current reco¥niscd goud pra¢ti¢e and expand provision in iems of both direct and indirect input to pupils with social. emotional and mental health needs. Stsff skills will be developed to meet the in¢r¢ased demands placed upon them with continued professional development. The key strategies io achieve the objectives as set out in the school development plan are as follows.. . - Improving further the quality of teachin8 10 refleci the receni changes and expectations of external monitors such as Ofsted and LA'S. Developing the curriculum lo make it even more relevant and needs specific in lernis of interest and motivation as & means of increasing participation and improving outcomes and attcnd&nce. Developing the leaming environment (including the grounds) to reflect curriculum changes and support increased motivation and attenddnce of pupils. Increasing the influence of 'therapy' as supporting improved behaviour, outcomes and attendance Page 2
Chaigeley Educational Foundation (Registered number." 113301881) Report of the Trustees for the Year Ended 31 August 2024 OlEcTIvEs AND ACTIVITIES Ethos And Vision Chaigeley School offers a flexible approach to meeiing the needs of young p¢ople who experience Social, Emotional and Mcntal Health (SEMH) needs. We are a 'specialisl' environment for young people who find effectivc Communication for mAny different reasons, more challenging than mosr. Our Vision is to "Prepare and empower our young people with all the skills th¢y need to live independent lives, become valued members of the community and achieve their true potential" We use our ISHARE values to support our Key Principles of learning in Trluriuring Personal Potential,. Independence Self-Rcgulation Honesty Acceptance Relationships Emotional Intelligence We believe our six principles help us in TrIURTURING PERSONAL POTENTIAL, ensuring Sdents have the skills 10 thrive in their next siage of life and grow holistically a5 individuals. Wc provide a 5UPPOrtive environment helping our pupils develop self-regula(ion, encouragin8 ieamwork, confidence and self-belief which leads them to a more promisin8, suciesbful fuwre. Publlc Beneflt, Alms and Intended Impact ThL SLhool's publiL bcnclit aims (u pruvidc cducation throu¥h a slruclurcd and conirollcd environment lo siudents whose needs cannot be mel in mainstream education. This is achieved by encouraging siudents lo leam self-discipline, panicipale in and be enriched by the challenges ot. School life and home life. We aim for all young people to realise rheir full potential. In setting out policy and planning these activities the Trustees have Considered the Charity Commission's general guidance on public benefil. FINANCIAI. RF.VIEW Growth #nd Don#tlons The Dcpartrncnt for Education continues to provide grants to the school (o improve standards including resources for capital projects. We also receive various small donations throughout the year. Results and Achlevements for the Year The year started with 48 pupils on roll and ended the year on 56. The prepared budget made at the start of the year predicted a surplus of £233,005. At the end of year, the sutplus was £232,644. We have continued with improving our academic results with all of our year I I leavers achieving GCSE qualifications. Qualificationb have been awarded in Maihs. English. Chemibtry, Art. Gernian and ICT. Some students also achieved ¢xl¢rnal vo¢aiion&l qualifications in construction. All of our year I I leavers have s¢¢ured places &t higher ¢du¢ation institutions. We have a number of ex-students that have gone on to secure places al university and are progressing well. Investment pollcy and objectlves Under the MeTnorandum and Articles of Association. the charity has the power to Tnake any investment that the trustees see rit. Wc havc lifflited funds available to invest and conscqucntly we b()Id our reservcs in short temi. ini¢rest-bearing accounts. This providcs low risk invcstmcnt allowing flcxibility for working capital purposcs whilst obtaining limited rctums. During Ihc ycar, somc available funds were placed in a CCLA deposit [nd. The remaining funds bein¥ held our current account. Pagc 3
Chalgeley Educatlonal Foundatlon (Reglstered number: 03301881) Report of the Trustees for the Year Ended 31 August 2024 FtNANCIAL REVIEW Re5erve5 poIIcy Due lo fundamentsl uncertainties surrounding the school's income and the ever-incr¢asing expenditure requirements. the Trustccs bclicve th&1 the frcc rcseNcs should fall within a range thai provides security and tlcxibility in the context of operational requiremcnts. The target range has bccn sct at one iemi of costs with amounts above this providing an opportunity to grow the charit&blc works. On 31 st August 2024, (he free resuves amounted to £977.712 which is just under our average (ernily expendire of £1,187,118. We expect to have a terni of Costs in the early part of the new academic year. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document Thc Charity is govcmed by the Instrnmenl of Government which encompasses the Memorandum and Articles of Associaiion. The ttusiees have during the year updaled ihe Instrument of Government and following Charity Commission approval this was fornially adopted on I st September 2022. The Foundation was incorporated on 14 January 1997 as 4 company limit¢d by guarantee, as defined by Ihe Companies Act 2006, to maintain Chaigeley School, which since 1946 had been ¢arri¢d on as an unincorporated Charity. Re¢ruitment and appointment of new trustees The skills mix of the group of Trnstees is considered regularly And particularly followtng retirement or resignation of a trustee. Skills audits are taken on an annual basis and where it is feli that there is a need to expand the expertise ofthe group external advertisements are placed in relevant journals or appropriate or8anisations contscted. The prospectivc tnjstees are invited lo the school to see how the school operates and mcet other trustees and staff. If the prospective trustee h&$ the suitable skills, knowledge and experience and are positively veited by the Disclosure and B&ing Service they are inviled ¢0 join Ihc Gov¢rning Body prior to elcciion at the following AGM. New Irusiees are irtducted into ihe workings of the school, and of Ihe Company as a registered charity on an individual basis following appointment. They are provided with Charity Commission inforniaiion on the responsibilities of being a ttvslee and take part in training provided by both the School and extcrnal bodies al various times throughout the year lo address relevant issues. OrgAnl&atlonAI structure The Governing Body meets al least three times each year and deterniin¢s the general policy of the school. The day-to-day management of the school is delegated to the principal and the school business and finance manager. There is one Governing Sub Committees.. The Finance Committee. There are link govemors who directly moniior and support subject leads and other key areas across the school reportlll8 back to the 1] governing Ix)dy. Wlder network The School 15 an active membcr ot. the following organi5alions' NASS (National A&%ociation of Special Schools) ENGAGE (Engage in their future) Rlsk management The Truste¢s are responsible for the id¢ntificlltion and control of the risks faced by thc school. Th¢re are several controls in place that address the risks aSslated with governance and management. personnel, operations, financial, environmental and compliance risks. Through the committee activities the risks are identified &Md assessed, and controls are put in placc 10 addr¢ss these risks. Key to the control environment are the controls including comprehensive strategi¢ planning. budgeting and management accounting combined with a clear organisational structure linked into the Trusiee meetings. A fornial risk management pro¢¢ss has been established with each committee asscssing the risks relevant to their area of work. This has been effective in identifying risks and allowed the trustees and management of the charity to implement suitlble control procedures to minimise the risk. Page 4
Chaigeley Educatlonal Fovndatlon (Reglstered number: 033111881) Report of the Trustees for the Year Ended 31 August 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Compgny nllmber 03301881 (England and Wales) Reglstered Chxrlty number 1060403 Reglstered offl¢t Chaigcley School Lymm Road Thclwall WH}ngton Cheshirc WA4 2TE Trustees Finance Committee Mr Will Howell Mr Christopher Haines Ms Jilly Ann Atherton Mr Tim Askham Mrs Hannah Middleton Mrs Amy Nisbet Mr Marlin Oldfield Mrs Elizabeth Parker Mrs Hilary Brooks Mrs Jackie Carter Miss Gemma M¢Caig Mr Beloved Ogundipe (ChaimJ&n) (Vice Chaim)an) Resigned 5th March 2025 Appointed 7th May 2024 Appoinied 7th May 2024 Appoinied 7th May 2024 MAna8ement Te4m Mr Paul Lambert Mrs Rachel Guyer Mr Patrick Boyle Mr Noel Conreen Mrs Ruth Myers Mrb Robyn Shevlin (Principal) (Deputy Principal) (Assi51ant Head of Education) Resigned 31 st August 2024 (School Business & Finance Manager) (sI.NDc0) (Head of Therapy) Company Secretary N D Conrcen Audltors Voisey & Co LLP 8 Winmarl¢igh Street Warrington Cheshire WAI IJW Clerk to the Governors Enttust Govrmor Scrvices Page 5
Chalgeley Educatlonal Foundation (Registered number: 03301881) Report of the Trustees for the Year Ended 31 August 2024 REFERENCE AND ADMINISTRATIVE DETAILS B*nkers The Co-operative Bank l Balloon Street Manchester M60 4EP Insurers Innovaiive Broking 20 St Dunstsn's Hill London EC3R 8HL STA TEMENT OF TRUSTEES, RESPONSIBILITIES The tNstces (who are also the directors of Chaigeley Educational Foundaiion for the purposes of company law) are responsible for preparing th¢ Annual Report and th¢ financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Gencrally Accepted Accounting Prlice). Company law requires the trustees lo prepare financial siatemenls for each financial yeu which givc & true and fair view of Ihc statc of affairs of the charitable company and of the incoming resources and application of resources, iftcluding the incoTne and expcndiDJrc, of the charitabl¢ company for that period. In preparing those finan¢ial statements, the trustees are required io select suitable accounting wlicies and then apply them consislenily; observe the methods and principles in th¢ Charity SORP., make judgemenrs and eslimatrs that are reasonable and ptudent; prepare the financial siaremenls on ihe going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees arc responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the rinancial pobiiion of the Charitable Company and to enable them to ensure that the financial stmtemenis comply with the Compani¢s Act 2006. They are &lso responsible for safeguarding the assets of the charit&ble comp&ny and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. Ihere is no relevant audit inforn]alion of which the charitable company's auditors are unaware., and Ihc trusices havc l&ken all steps that Ihcy ought to have tak¢n to make themselves awarc of any relcvanl audit inforniaiion and to esiablish that the auditors are aware of that inforniation. AUDITORS The audiwrs, Voisey & Co LLP, will be proposed for re-appointment al the forthcoming Annual General Meeting. Approved by order of the board of trustees on ................... and signed on its behalf by.. W Howell - Trustee Page 6
Report of the Independent Auditors to the Members of Chalgeley EducatSonal Foundatlon (Regfistered Dumber: 113301881) Opinion We have audited the financial statements of Chaigeley Educational Foundation (the'charitable compAnyJ for the year ended 31 August 2024 which ¢ornpris¢ the Stameni of Financial Activities, the Balance Shcet. the Cash Flow Statement and notes to the financial statements, including a summary of significant a¢¢ounting policies. Thc financial reporting framework that has been applied in their preparation is applicable law and United KgdOn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financiRI statements.. give a trne and fair view of the state of the charitable company's affairs as ai 31 Augusl 2024 and of its incoming resources and application of resources, including its income and expenditurc, for the year then ended- have been properly prepared in accordance with United Kingdom Generally A¢¢epted Accounting Practice,. and have been prepared in accordance with ihe requirements of the Companies Act 2006. Ba51s for oplnlon We conducted our audit in accordance with International Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibiltties under those siandards are further described in the Auditors, responsibilitics for the audit of the financial sts(ements sectton 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 ststements in the UK, including the FRC'S Ethical Standard. and we have fiklfilled our other ethical responsibilities in accordance with ihesc requirements. We believe that the audit evidence we have obtaincd is sufficient and appropriate to provide a basis for our opinion. Conclujlons relailng to golng coneern In audiiing the financial slalemenls, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material unccrtainiies relating lo events or conditions that, individually or collcciively, may cast significant doubt on the ¢haritable company's ability lo conlinue as a ¥oing concem for a period of al l¢asl Iwelve months from when the financial staicmenls arc auihorised for issue. Our responsibililies and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Informatlon Th¢ trusteeb are responsible for thc other inforniation. The other infomation comprises the inforn]aiion included in the Annual Report, other than the fin&n¢ial statements and our Rcport of the Independent Auditors thcreon. Our opinion on the financial statements does not cover th¢ other inforniation and. except lo the extent othenvise explicitly stated in our report, we do not exprcss any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infornialion and, in doing so, considcr whcthcr thc othcr infomation is materially inionsistent with the financial statcmcnts or our knowlcdge obthined in the audit or othcrwise appears io be materially misstaied. If we identify such material inconsistencies or apparent material misstatements, we are rcquired to detemine whether this gives rise to a material misstatement in the financial st&lements themselves. If, based on the work we have perfomied, we Conclude that there is a material misstatement of this other information. we are required io report that faci. We have nothing to rq)ort in this regard. Opinions on other mAtters prescribed by the Compllfies Act 2006 In our opinion, b&s¢d on the work undertaken in the course of the audit.. the inforniation given in the Report of the Trnstees for the financial year foT which the financial statements are prepared is ¢onsist¢nt with the financial statements., and the Report of the Ttustees has been prepared in accordance with applicable legal requirements. Pag¢ 7
Report of the Independent Auditors to the Members of Chalgeley Educatlonll Found*tlon (Registered number: 113301881) Matters Dn whi¢h we )Ire required io repori by exception In the light of the knowledge and understanding of the ¢haritabl¢ company and its environment obtained in the rourse of the audiL we have not identified material misststments in the Report of the Ttustees. We have nothing to report in respect of the following matters where the Companie5 Act 2006 requires us to report to you if, in our opinion: adcquate accounting records have not b¢en kept or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agrecmcnt with the accounting records and remrns. or 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,. or the ttuslees were not eniitlcd lo takc advantagc of the small companies exemption from the requirement to prepare a Strategic Rcport or in prcparin¥ ihc Rcport of ihc Trustces. Responsibilities of trustees As explained more fvlly in the Statement of Trustees, Responsibilities, the lrnstees (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 ttue and fair view, and for such internal control as the twstees deterniine is necessary io enable the preparation of financial statemenis that are free from material misstaiement. whether due to fraud or error. In preparing the finClaI statements, the trustees are responsible for assessing the charitable company's ability lo continue as a going concern. disclosing, as applicable, matters related io going conccrn and using the goin8 concern basis of accounting unless the trustee5 either inlend to liquidate the ¢haritable company or to cease opcraiions. or have no realistic alternative but to do 50. Page 8
Report of the Independent Auditor5 to the Members of Cbgigeley Educatlonal Foundatlon {Reglstered number: 03301881) Our responsibilities for the audlt of the fiBancl81 statements Our objeciives are to obtain rcasonablc as5uran¢e about whether Ihe financial ststements as a whole are free from material misstat¢m¢nt, whether due to fraud or error. and to issue a Report of the Indcp¢ndent Auditors that includcs 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 MissteMent when it exists. Misslatements can arise from fraud or error and are considcrcd material if, individually or in thc aggrcgate, thcy could rcasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. I We enquired of management and those charged wilh governance about acbjal and potential litigation and claims in the ontext of thc company, including r¢vi¢w of relevant nominal ledger accounts. 2 - We obtained an understanding of laws, regulations and guidance that affect the company, focusing on those that had a direct effect on ihe financial statemenis or that had a fundamental effect on their operations. Key laws, regulations and guidance that we identified included the Companies Act 2006, health and safety legislation and employment l¢gislation. 3 - We enquired of management and ihose charged with goven)anc¢ to identify any instan¢¢s of non-complian¢¢ with laws and regulations. We also rcvicw¢d meeting minutes where available for evidence of non-¢ompliancc with relevant laws and regulations. 4 - We reviewed the company's financial slatement disclosures, and agreed a]1 to supportin8 documentation to assess compliance with the applicable laws and regulations discussed above. 5 We 8ained an und¢rstanding of the controls that management have in plac¢ to prevent and detect fraud. We enquired of management aboul any incid¢nces of fraud that hud taken pla¢e during Ihc accounting period. 6 - The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and i¢sls were planned and perfornied to address these risks. 7 - In addressing the risk of frdud due lo management override of controls, we performed testing of journal en(ries and other adjustments For appropriateness, evaluating the business rntionale of si8nifi¢ant transactions outside the normal course of businebs and reviewing accoun(in¥ esiimales for bias. 8 - We also challenge management assumptions with regard to accounting estimates. Despite appropriate planning and perfoming our work in accordance with Intrnational Audiiing Standards, there are always inherent limitstions that non-complianc¢ is not detected. Non-complian¢¢ with laws and regulations is often further removed from the events and transactions refl¢¢ted in the financial statements and material misstatements due to fraud can be dclibcralcly concealed from auditors. for example through misrcprcscntation, forgery or collusion A further descriptton of our respon5ibilitles for the audit of the financial statements is located on the Financial Reporting Council's websitc at www.frc.org.ukl&udilor5rcsponsibilities. This description fomis part of our Report of the Independent Auditors. Page 9
Report of the Independent Auditor5 to the Memberg of Chalgeley Educatlonal Foundatlon (Reglstered number: 03301881) Use ofour report This report is made solely to the charitable ¢ompany's members, as a body, in accordance with Chaptcr 3 of Part 16 of the Companies Act 2006. Our audit work h&$ been undertaken so that w¢ might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fvllest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable cotnpany and the charitable company's members as a bi)dy, for our audit work, for this report, or for thc opinions wc havc fomicd. Jonathan Urnision ACA (Senior Stalutory Auditor) for and on bchalf of Voisey & Co LLP 8 Winmarlcigh Sircct Warringlon Cheshire WAI IJW Date.. Page 10
Chaigeley Educatlonal Foundatlo Statement Df Fingncial Activitiey for the Year ETrded 31 August 2024 31.8.24 Total funds 31.8.23 Total funds Unrcstricted funds Restricted nd Endowment fid Notes INCOME AND ENDOWMENTS FROM Donaiions and legacies 18 6,543 Charltable Actlvitles Care and education of Children 3,223,241 56,784 3.280,025 2,628,314 Other trading activities Investment income 10,538 10.538 10.575 Total 3 260 228 3317012 2 650 127 EXPEiYDITURE ON Charltable activltley General Teaching costs Welfare costs Premises costs Support costs for schoolin8 Governance costs 2,364,014 45,040 465,470 84,621 63,069 2,427.083 45,040 525,773 84,621 1,924,422 25.425 472.349 109,429 60,303 Total 2,960,996 60.303 3 084 368 2 533 470 NET INCOMEI(EXPENDITURE) 299,232 16,285) (60,303) 232,644 116,657 RECONCILIATION OF FUNDS Total funds brought forward 678,480 18,791 2,489,726 3,186,997 3.070,340 TOTAL FUNDS CARRIED FORWARD 977.712 12,506 2 429 423 3.419 641 3 186997 Thc notcs fom) part of these financial statements Page 11
Chaigeley Educatlonal Fovndatlon (Reglstered number: 033111881) Balance Sheet 31 August 2024 31.8.24 Total funds 31.8.23 Total funds Unrestricted nds Restricted nd Endowment fund Notss FIXED ASSETS Tangible assets 13 157,640 2,429,423 2,587.063 2.604,460 CURREIYT ASSETS Debtors Cash & cash equivalents 14 30,769 .022,579 30,769 1035 085 34,943 664,910 12,506 1,053,348 12,506 1,065.854 699,853 CREDITORS Amounls falling due within one year 15 {233,276) (233.276) (117,316) NET CURREIYT ASSETS 820 072 832 578 582 537 TOTAL ASSETS LESS CURRENT LIABILITIES 977,712 12,506 2.429,423 3,419.641 3,186,997 NET ASSETS 977 712 2 429 423 3419641 3 186997 FUNDS Unrestricted funds Restricted funds Endowment funds 16 977,712 12.506 2 429 423 678,480 18,791 2 489 726 TOTAL FUNDS 3419641 3 186997 These financial statements have been prepared in accordan¢¢ with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Tnle¢S and authorised for issue on and were signed un its behalf by.. W Howell - Trusiec The notes forni part of these financial statements Page 12
Ch#lgeley Educatlonal Foundgtion Cash Flow Statement for the Year Ended 31 Augu$¢ 2024 31.8.24 31.8.23 Notes Cash flows from operatlng aetlvltles Cash gcncratcd from opcrations 489 529 245 439 Net ¢ash provided by operating activiiies 489 529 245,439 Cash flowg from Investlng aetlvltles PUaSe of lan8ible fixed assets Interest received (85.482) (47,804) 4,695 Net cash uscd in invcsting activities 59.051) 43 109) Cayh flows from flnan¢lng a¢tlvltle8 Expenditur¢ attributable to endowment 60 547) Nel cash used in financing aclivilies 60 303) Chinge In cash and cash equlvalents In the repDrtlng perlod Cash 4nd cash equlvAlents at the beglnnlng of the reportlng pcrlod 370,175 141.783 523 127 Cash #nd cash equlvAlents at the end of the reportlng perlod 1035 085 664 910 The notes fom part of these financial stalemcnls Page 13
Chaigeley Educational Foundation Note5 to the Cash Flow Stxtement for the Year Ended 31 August 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.8.24 31.8.23 Net Income for the reportlng perlod (gs per the Statement of FinaDclal Activities) Adjustment5 for: Depreciation charg¢s Interest received Expenditure attributable to endowment Decrease in debtors Increasel(decrease) in creditors 232,644 116,657 102,879 {26,431) 60.303 4.174 115960 88,964 (4,695) 60,547 3,760 Net cash provlded by op¢r4tlon 489,529 245 439 ANALYSIS OF CHANGES IN NET FUNDS At 1.9.23 Cash flow Ai 31.8.24 Net t*yh Cash at bank and in hand 664,910 370 175 1035 085 370 175 1035 085 Total 370 175 1035 085 Thc nolcs fomi part of these financial slatements Page 14
Chaigeley Edue*tlonal Foundation Note5 to the Financial Statements for the Ye4r Ended 31 August 2024 ACCOUNTING POLICIES B8515 of preparing the financial statements The financial statements of the charitable ¢ompany, which is a publi¢ benefit entity under FRS 102. have bcen prcparcd in accordan¢c with the Charities SORP {FRS 102) 'Accuunling and Rcporting by Charitics.. Sialemcnt of Recommended Practice applicable io charities preparing ihcir accounts in ac¢ordance with the Financial Rcporling Standard applicable in the UK and Republic of Ireland IFRS 102} (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ot. Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The School is a Public Benefit Entity registered as a Chariiy in England and Wales and a company limiied by guarantee. li was incoTporated on 14 January 1997 (company number'.03301881) and rcgistcrcd as a Charity on 28 January 1997 (charity number.. 1060403). The registered office is Chaigelcy School Lymm Road, Thelw&ll, Warrington, WA4 2TE. At the tiTne of approving the financial statements, the trustees have a reasonable expectation that rhe chariry has adequate resources to con¢inue in operational existence for the foreseeable fulure. Thus the trustees continue to adop( (hc going concern basis of accounting in preparing the financial 5tatcrnents. The presentation currency is £ sterling. Monetary amounts in these financial staremenls are rounded lo the nearest £. Income All inlome is recognised in ihe Statement of Financial Aclivi(ies once the charity has entitlement to th¢ funds. it is probable that the income will be received and ihe amount can be measured reliably. Income from the educational services represents fees earned in respect of luiiion given durin¥ the year. Donations, are recognised when the Charity has bcen notified in writing of both the amount and settlement datc. In the event that a donation is subject io conditions Ihar require a level of pvforniance before the charity is entitlcd to the fundb, the income is deferred and not recognised unlil either those conditions are fully mei, or th¢ fulfilment of those Conditionb is wholly within the control of the chariiy and it is probable that those conditions will be fulfilled in the reporting period. Income from governmeni and other grants, whether '¢apital' grants or 'rev¢nue' grants,is reco&Fnised when the charity has cniitlcment to the funds. any p¢rfonnancc conditions attached lo che grants have been mec, it is probable Ihat the income will be received and the amount can be measured reliably and is not deferred. For legacies, entitlemeni is taken as the earlier of the dale on which either.. the charity is aware ihat probate has been granlcd. thc cstatc has bccn finaliscd and notification has bccn madc by Ihc cxccutorlsl to the Trusl thut a distribution will be made, or when a distribution 15 received trom the estate. Receipt of a legacy. in whole or in part, is only considcred probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Ivhere legacies have been notified to the charity. or the charity is aware of the granting of probate. and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. Interest on funds held on deposit is included when receivable and the amount Can be measured reliably by thc charity; this is nom)ally upon noiificaiion of the interest paid or payable by the Bank. Expendlture Liabiliiies are recognised as expenditure as soon as there is a legal or consttu¢tive obligation committing the charity to that cxpcnditure, it is probable that a Iransfcr of cconomiL benefiis will bc required in settlement and the amount of Ihc obligation can bc mcasurcd rcliably. Expcnditurc is accoun(¢d for on an accruals basis and been classified under hcadings that aggrcgatc all cost rclated to the catcgory. Where r05ts cannot be directly attributed to particular headings they have bccn allocated ro activilic5 on a basis consistent with the use of resources. Pagc 15 continued...
Chaigeley Educational Foundation Notes to the Fin4nclal Statetllents - contlnved for the Year Ended 31 August 2024 ACCOUNTING POLICIES - contlnued Tanglble filed a5$ets All assets costing more than £500 are ¢apitalis¢d at Cost at)d depreciated with the exception of freehold land. Depreciation is provided to write off the assets over their anticipated uscful lives. Using the following methods and rates.. Fixtures. fittings and ¢quipmenl Vehicles Buildings 150/ts straight line 250/0 and 120/1 straight line 50 years straight line The TNstees have taken the decision as part of the transition to FRS 102 to no longer revalue the buildings every five years. The last Tevalued amount has been used as the carying value. TsxAtlon The charity is exeTnpt from Corporation tax on its charitable activities. Fund #ceountlng Unrestricted funds can be used in accordance with the charil&ble objectives &t ihc discretion of the tn15tees. Restricted funds can only be u.%ed for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular r¢stricl¢d purposes. Endowment fundb, are funds for which the TNslees musi maintain the capital element but the incoming resources dcrived from thc undcrlying cndowmcnl asscis can bc spent. Further explanalion of the naturc and purpose of each fvnd is in¢luded in the notes to the financial statements. Penslon ¢0sts And other post-retlremeDt beneflts The Charity contributes to the Teachers, Pension Defined Benefit Scheme &t rates sel by the Scheme Actuary and advised to the Charity by the Scheme Administrator. The Scheme is a multi-employcr pension scheme and ]( is not possible to identify th¢ assets and liabililies of the Scheme which are attributablc to thc Charity, In ac¢ordance with FRS 102 the Scheme is accounted for as a defined contribution scheme and coniribuiions are accounled for when advised as due by the S¢heme Adminislralor. Non teaching staff are enrolled in the Pension Trust Gromrth Plan. Its treatment is the same as the Teachers, Pension tkfined Benefit Scheme. FlnAnclg1 Instruments Th¢ Company elected to apply ihe provisions of Section I I 'Basic Financial Instruments, and Seciion 12 '0iher Financial Instruments Issues, of FRS 102 10 all of its financial insttuments. Financial instruments arc recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instNm¢nt. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is legally enforceable right to set off the recognised amounts and thcr¢ is an intention to settle on a net ba51S OT to reali5e the net asset and settle the liability simultaneously. Baslt finAnel*l assets Basic financial assets, which include debtors and cash and bank balancc5, arc initially m¢asur¢d at transaction price including transaction costs and are subsequently carried at amortised costs using th¢ effective interesi method unless the arrangement constitutes a financing transaction, where the transaction is m¢asurcd at the pr¢sent value of the future receipts discounted at a market r&te of interest. Financial assets classified as receivable within one year are not amortised. Page 16 continued...
Chalgeley Educational Foundation Notes to the Flnanclal Statetllents - contlnued for the Year Ended 31 August 2024 ACCOUIYTING POLICTES - Continued Fingncial Instruments Impairment of financial a$set5 Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impaimient al each reporting end dat. Finan¢ial assets are impaired where there is objective evidence that, as a result of one or more events that o¢¢urred after the initial recognition of the financial asset. the estimated fulure cash flows have been affected. If an asset is impaired, the impairnient loss is the differcnce belwccn thc carrying amount and the prcscnl valuc of the estimated cash flows discounted at the asset's original effectivc intcrcst ralc. The impairmcnt loss is r¢co¥nised in profit or loss. Deretognltlon of flnanelil assets Financial assets are derecognised only when the cOntraCal rights lo the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risk5 and rewards of ownership to anothcr ¢ntity, or if somc significani risks and rewards of ownership are rctaincd but control of the &ss¢t has transferred to another paty that is able lo sell the asset in its entirety to an unrelated third party. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Estima(es and judgements are continually evaluated and are based on historical experience and other faLlurb, in¢luding expcctalions of futurc events Ihal are believed to be rcasonable undcr the circumslances. The ¢harily m&kcs estimates and assumptions con¢ernin¥ the future. The regulting accounting esiimales and assumptions will, by definiiion, seldom equal the related actual results. The estimates and assumptions Ihaf have a signifi¢ant risk of causing a material adjustment to th¢ canying amounts of assets and liabilities within the next financial year are discussed below.. Ivhen an assei is purchased il is ¢ategoris¢d into an assct class, the depreciation policy of each class estimates the economic life of all assels within the Class. The depreciation policy of each asset Class is d¢terniined by management and reviewed regularly for appropriateness. The depreciation policy adopted is based on historical experience as well as considering the future evcnls which may impact the useful econornic life of all assets within ¢a¢h class, such as changes in market demands. In addition. FRS 102 requires an entity lo assess at each reporting dale whether there is any indication that assets within a class may bc impaircd i.c. th¢ rccoverable amount of the assct 15 le than thc carryin¥ amount. If any such indication exists, management are required lo estimate the recoverable amount of the individual assets concerned. Management judgement is applied to dctemine if revenue and costs should be recogniscd in the current period. Page 17 continued...
Chgigeley Educational FoundatlOD Notes to the Flnancial Statement5 - CODtinlled for the Year Ended 31 August 2024 DONA TIONS AND LEGACIES 31.8.24 31.8.23 Donations 18 6.543 OTHER TRADING ACTIVITIES 31.8.24 31.8.23 R¢nlal income INVESTMENT INCOME 31.8.24 31.8.23 Deposit account interest INCOME FROM CHARITABLE ACTIVITIES 31.8.24 31.8.23 Activity Other school income Car¢ and education of children Grants Care and education of children Educational and care services Care and education of children 6,470 622,614 2 650 941 3,744 582,273 2 042 297 3 280 025 2628314 Grants received, included in the above, are as follows.. 31.8.24 31.8.23 Pupil Prcmium Grant Department of Education Education Funding Agency 56,783 165,831 400 000 49,734 129,971 399 167 622 614 578 872 Page18 continued...
ChAi2eley Edue*tlon41 Foundydtlon LYote5 to the Fillancial Statements- contlDued for the Year Ended 31 August 2024 CHARITABLE ACTIVITIES COSTS Support costs (see note 8) Direct Costs Totals Teaching costs Welfare costs Premises costs Support costs for schooling Governance ¢osts 2,396,601 45,040 492.585 52.647 30,482 2,427,083 45,040 525,773 84,621 33,188 31,974 1.851 2 986 873 3 084 368 SUPPORT COSTS Governance cosis Management Totals Teaching costs Premises costs Support ¢08ls for schoolin8 Governance costs 30.482 26.648 10.396 30,482 33.188 31,974 6.540 21,578 NET INCOMEI(EXPENDITURE} Net in¢om¢/(cxp¢nditure) is stated aft¢r chargingl(crediting)'. 31.8.24 31.8.23 Auditors, remuneration Depreciation - owned assets 8,250 02 879 6,300 io. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year endcd 31 Au8usI 2024 nor for the year ended 31 August 2023. Trusteei, expenses There were no ttwte¢s' expenses paid for th¢ year ended 31 August 2024 nor for the year eT]ded 31 August 2023. Page 19 continued...
Chaigeley Educational Foundation Notes to the Flllanclal Statements - CO¢1ued Cor the Year Ended 31 August 2024 ii. STAFF COSTS 31.8.24 31.8.23 Wages and salaries Social s¢¢urity costs Other pension ¢osts 1,833,351 167,642 243 623 1,473,921 135,483 202 904 2244616 1812308 The avera¥e monthly number of cmployces during the year was as follows.. 31.8.24 16 29 31.8.23 14 29 Teachers Care and teaching support siaff Domesiic and mainienance Administration staff 56 53 The number of empluyees whose employee benefits {excluding employer pension costs) excc¢ded £60,000 was.. 31.8.24 31.8.23 £60,001 £70,000 £70,001 £80,000 £90,001- £100,000 The charity considers its key management personnel to be its senior leadership *am. The total wage cost in¢ludin8 employers national insurance and pension cosls was £497,723 (2023 £364,075) 12. COMPA114TIVES FOR THE ST ATEMENT OF FINANCIAL ACTIVII'IES Unrcstrictcd RestriLied funds fund Endowment fund Total funds INCOME AND ENDOWMENTS FROM Donatiuns and l¢ga¢ies 6,543 6,543 Charltable actlvltles Care dnd edurdlion of children 2,578,581 49,733 2,628,314 Other trading activitie5 Investment income 10.575 10,575 Total 2 600 394 2650 127 F.XPENDITURE ON Charitable activities Gcneral Teaching costs 1,887,726 36.696 1,924,422 Page 20 continued...
Chalgeley Education41 Foundatlon otes to the Financi41 Statement5 - COlItIDued for the Year Ended 31 August 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Continued Unrestricted Restricted Endowment fidS fund fund Total funds Welfarc costs Premises costs Support costs for schooling Governance costs 25,425 411,802 109,429 25.425 472,349 109,429 60,547 Total 2 436 227 2 533 470 NET INCOMEI(EXPENDITURE) 164,167 13.037 {60,547) 116,657 RECONCILIATION OF FUNDS To¢al funds brought forward 514,313 5.754 2,550,273 3,070,340 TOTAL FUNDS CARRIED FORWARD 678 480 2,489 726 3 186,997 13. TANGIBLE FIXED ASSETS Fixtures and riiiings Freehold property Motor vehicles Totsls COST At I September 2023 Additions 3,235,180 344,466 85.482 27,599 3,607.245 At 31 August 2024 3235 180 429 948 3 692 727 DEPRECIATION At I September 2023 Charge for year 745,454 248,113 9,218 6.250 1,002,785 102 879 At 31 August 2024 805 757 284 439 1 105 664 NET BOOK VALUE At 31 August 2024 2 429 423 145 509 2 587 063 AI 31 Au8USt 2023 2 489 726 2 604 460 Pag¢21 continued...
Chalgeley Edueatlonll Foundatlon Notes to the Financial Stat¢meDts - continued for the Year Ended 31 August 2024 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Other debtors Prepayments and acctrued income 1.302 1.116 30,769 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Trade crcditors Social security and other taxes Other creditors Accnjals and dcferred income 112,944 66,496 40,028 55.890 33,347 14,432 233 276 117 316 16. MOVEMENT IN FUNDS Net moyemcnl in funds Ai 31.8.24 At 1.9.23 Unregtrlcted fund5 General fund 678,480 299,232 977.712 Restrleted funds Pupil Prcmium 18,791 (6,2851 12,506 Endowment fundj Endowmcnt 2,489,726 160,303) 2.429,423 TOTAL FUNDS 3 186997 3 419 641 Page 22 continucd...
Chaigeley Educatlonal Foundatlon Note5 to the Flnancial Statements - contlnued for the Year Ended 31 August 2024 16. MOVEMENT IN FUNDS- contlnued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in fvnds Unrestricted funds General fund 3,260,228 (2,960.996) 299,232 Restricted fundj Pupil Premium 56.784 (63,069) (6,285) Endowment funds Endowment 160,303) (60,303) TOTAL FUNDS 3 317012 3 084 368) CompArAtlves for movement In fund5 Net movement in funds Ai 31.8.23 Al 1.9.22 Unrestrleted fund$ General fund 514,313 164,167 678,480 Restrlcted funds Pupil Premium 5,754 13,037 18,791 EndowD7enl funds Endowment 2,550,273 (60,547) 2,489,726 TOTAL FUNDS 3 070 340 116657 3 186997 Page 23 continued...
Chaigeley Educational Found9tion Note5 to the Financial St4temeDt5 - Comtlnued fDr the Year Ended 31 August 2014 io. MOVEMENT IN FUNDS- contlnued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resourccs expendcd Movement in funds Unrestrlcted funds General fund 2.6(X),394 {2,436,227) 164.167 R¢stricted funds Pupil Premium 49,733 (36,696) 13,037 Endowment funds Endowment (60,547) (60,547) TOTAL FUNDS 2650 127 2 533 470) 116657 A cutTent year 12 months and prior year 12 months combined p051tion is as follows.. Net muvemenl in funds At 31.8.24 At 1.9.22 Unreytrieted funds General fund 514,313 463,399 977,712 Reitrlcted fund$ Pupil Premium 5,754 6,752 12,506 Endowjnent funds Endowment 2,550,273 (120,850) 2,429,423 TOTAL FUNDS 3 070 340 349 301 3419641 Page 24 ¢ontinued...
Chaigeley Educational Foundatlon Notes to the Fln4nclal Statements- contlnued for the Year Ended 31 August 2024 16. MOVEMENT IN FUNDS - ¢on¢inued A cuent year 12 months and prior year 12 months combined nei movement in funds, included in the alM)ve are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds Gencral fund 5,860.622 (5,397.223) 463,399 Restrleted funds Pupil Premium 106.517 (99,765) 6,752 Endowment funds Endowment (120,850) {120,850) TOTAL FULYDS 5967 139 5 617838) 349 301 17. EMPLOYEE BENEFIT OBLIGATIONS Retlretntnt Ben¢flti The school parti¢ipates in the Teachers, Pension Scheme I'the TPS.) for its leaching stsff and The Pensions Trnst's Growth Plan for its non-teaching staff. Te*ehers' Pen51on Sehtme The pension charge for the year includes contributions payable to the TPS of £166,737 (2023.. £135,080) and at the year-end £19,914 (2023.. £14.688) Was accnjed in respecl of contributions to the scheme. The TPS is an unfunded multi-employer defined benefits pensioT] scheme govemed by the Teachers, Pension Scheme Regulations 2014. 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 fund provided by Parliament .As this is a multi-empluyer scheme it is not Possible or appropriate lo consist¢nily identify the liabilities of the TPS which are atlributsble to the school. Ac¢ordin¥ly, the s¢hool ac¢ounis for thib s¢h¢m¢ as if il were a defined ¢ontribution scheme. The employer contributions rate is sel following scheme valuations und¢rtak¢n by the Government Actuary Department. The a¢ana[ valuaiion of the TPS was implemented from April 2024 and carried out using scheme data as at 31 March 2020. Following the scheme valuation as al 31 March 2024, employer contributions were increased to 28.6'/0 from 23.6Q/o, taking affect from April 2024. Employers also pay a ¢harge equivalent to 0.08 /v of pensionable salary costs io cover administroiion ¢xpenses. The Tcachcrs, Pcnsions Regulations require an annual account, thc Teachers, Pension Budgcting and Valuation Account, to be kept of receipts and expenditure (including the cost of pension Increases). From l April, the Account has been credited with a real rate of return. which is equivalent to &ssurntng that the balance in the Account is invcsted in notional investments that produce that real rate of return. The latest set of accounts available are for the year ended 31 st March 2024. The Pension Trust Growth Plan The Pensions Trust Growth Plan (the Plan) is funded and is not contracted-out of the State sch¢me. The Plan is a multi-employer pension plan. Pagc 25 continued...
Chalgeley Educatlollgl Foundgtlo Notes ¢0 the Flnanclal Statements - continued for the Yegr Ended 31 August 2024 17. EMPLOYEE BENEFIT OBLIGATIONS - ¢ontinued Contributions paid into the Plan up to and including September 2001 were convertcd to dcfined an]ounts of pension payable frotll nornial retirement date. From October 2001 contributions were invested in personal funds which have a capital guarantcc which are converted to pension on retirement. cithcr within the Plan or by the purchA5c of an annuity. The rules of the Plan give the Trustce the power to require employers to pay additional contributions in order to ensure that the stathtory funding objective under the Pensions Act 2004 is met. The statutory funding objective is thai a pension scheme should have sufficient assets to meet its past setvice liabilities, known as Technical Provisions. The latest fomial valuation of the Plan at 30 September 2024 and completed in 2025 was perfornied by a professionally qualified Actuary using the Projected Unit Method. The market value of the the Plan's assets al the valuation dale w&$ £6,385 million and the Plan's Technical Provisions {i.e past service liabilities) were £7,550 million. The valuation therefore revealed a shortfall of asse(s compared with th¢ value of liabilities of £1,165 million, equiv81ent to a funding level of 84.6 % on a Technical Provision valuation basis. Chaigeley Educational Foundation paid contributions al the rate of between 60/th and l OO/ty lot&lling £76,296 (2023: £67,803) during the accounting period. Members paid contributions at a minimum rate of 5 % during the accounting period. As at the balance sheet date there were 41 active members. Pension cost5 for both schemes are met from unrestrictd funds. 18. RELATED PARTY DISCLOSURES There were no relaled party transactions for the year ended 31 August 2024. 19. FUNDS Unrestrlcted Funds These funds, in ihc upinion of the Trustees, are free to use in accordance with the charitable object5. Restrlcted Funds The schi)ol is also in receipt of capital ndgrants from the Education and Skills Funding Agency. In line wilh reporting requirements, this incom¢ is shown in restricted funds, with the expenditurc, that meets the conditions associated with the grants, also allocated to these restricted funds. Endowment Fund This comprises the land and buildings of Chaigeley School, used exclusively to further the objects of the Charity. P&gc 26
Chalgeley Educational Foundatlon Detailed Statement of Flnancl41 Actlvltles for the Year Ended 31 August 2024 31.8.24 31.8.23 ILYCOME AND ENDOWMENTS Donatlons and legacles Donations 18 6,543 Other tr4dln2 8Ctlvltle5 Rental income 10,538 10.575 Investment Income Dcpusil aLcounÈ interest 26,431 4.695 Ch8ritable activitles Other school income Granis Educational and care services 6.470 622,614 2.650 941 3.744 582,273 2 042 297 3 280 025 2 628 314 Total Ineomlng resources 3,317,012 2,650,127 EXPENDITURE Charlt*ble actlvltle8 Wages Social Security Pensions Rates and water Insurancc Light and heat Postage and 51ationcry Sundries Motor expenses Repairs Care standards costs Teaching costs Catering and accommodation Travel costs Fundrai.%ing and publicity PE Equipment Depn of freehold property Depn of fixlures & fittings Depn of motor v¢hicles 1,833,351 167,642 243,623 4,360 52,647 45,843 8,836 193 4,532 198,593 2,745 270,282 41.385 2,549 7,413 1,473,921 135,483 202,904 29,884 53,712 36,529 4,153 4,973 140,945 3,701 214,238 22,159 5,662 2,989 3,402 60,547 24,582 60.303 36.326 6,250 2.980,873 2.423,619 This page does not fom) part of the statutory financial statements Page 27
Chai2eley Educatlonal Found•tlon Detailed Statement of Financigl Activities for the Year Ended 31 August 2024 31.8.24 31.8.23 Support costs Management Telephone Bank ¢hargcs Subscriptions Recruitment expenses Staff training Hcalth and safety costs Cleaning and laundry costs Govcrnor training Sctilcment Costs 2,150 ,851 15,768 7,362 30,482 1,175 9,705 884 4.974 1,845 11,060 6,082 25,244 1,313 7,982 957 69,377 91.357 Governance costs Auditors, remuneration Legal and professional fees 8,250 6,300 Total resources expended 3 084 368 2 533 470 Net Income 232.644 116657 Thi5 pagc does not forni part of the statutory financial statemcnts Page 28