St Laurence Education Trust (a company limited by guarantee)
Governors' report and financial statements 31st August 2023
Charity number: 1063808 Company number: 3415320
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## CONTENTS
|Reference and administration details|1|
|---|---|
|Governors’ report|3|
|Statement of accounting and reporting responsibilities|10|
|Report of the auditors to the members of St Laurence Education Trust|13|
|Statement of financial activities|15|
|Balance sheet|16|
|Statement of cash flows|17|
|Notes|18|
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **REFERENCE AND ADMINISTRATION DETAILS**
## The Charity
St Laurence Education Trust is a company limited by guarantee and a registered charity. It was incorporated in 1997 and in the year under review was responsible for the operation of Ampleforth College **,** (the College) an independent co-educational boarding school for children aged 11-18.
Governors
The Governors are the directors of the company and also the charity trustees. The Governors who served during the year and up to the date of signing were:
Mr E Sparrow - Chair Mr D Ashcroft (resigned 5 September 2022) Mrs M Baines (resigned 8 May 2024) Sir Julian Brazier Mrs M Byrne-Hill Mr R Burdell Dr Michael Clarke Mrs B Matthews Mr M McCandless (resigned 31 May 2023) Mr P McDermott (resigned 7 December 2022) Mr C Passmore Mr R Tams (appointed on 9 December 2022) Mr M Vander Weyer Mrs P Walkinshaw Mrs S Sadler (appointed 21 June 2023) Mrs S Garthwaite (appointed 7 December 2023) Mr A R Johnson (appointed 7 December 2023) Mr J R Lewis (appointed 7 December 2023) Mr R A H Sword (appointed 7 December 2023) Mr R E Tams (appointed 9 December 2023)
Sub-committees:
Education Safeguarding Governance and Nominations Finance and General Purposes
Officers and key management personnel
Mr P Roberts Head (appointed 1 January 2023) Mr P Bryan Bursar/Chief Operating Officer (resigned 31 August 2023) Mr R Hills Bursar/Chief Operating Officer (appointed 31 August 2023)
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
Registered address
Ampleforth College York North Yorkshire YO62 4EY
School address
Ampleforth College York YO62 4ER
Auditors Saffery LLP Mitre House North Park Road Harrogate North Yorkshire HG1 5RX
Solicitors
Veale Wasbrough Vizards LLP Orchard Court Bristol BS1 5WS
Farrers LLP 65-66 Lincoln’s Inn Fields London WC2A 3LH
Bankers Barclays Bank plc 1 – 3 Parliament Street York YO1 8SE
Insurance Brokers
PIB Insurance Brokers Poppleton Grange Low Poppleton Lane York YO26 6GZ
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **TRUSTEES’ AND DIRECTORS’ REPORT**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
St Laurence Education Trust is a company limited by guarantee and a registered charity. It was incorporated in 1997 and in the year under review was responsible for the operation of Ampleforth College, an independent co-educational boarding school for children aged 11-18.
## Governance
The St Laurence Education Trust board of Governors, meets at least four times a year, one of which is a day devoted to strategic discussion and has established four sub-committees, Education, Safeguarding, Governance and Nominations, and Finance and General Purposes each of which meet at least termly. There are nominated governors for Safeguarding, Health and Safety, SEND, Pastoral/Boarding, Infirmary, Development and Staff liaison. The Governors conduct regular evaluations to ensure effective governance and the adoption of best practice.
The College is a member of the Independent Schools’ Bursars Association and the Boarding Schools Association. The College is about to re-enter membership the Association of Governing Bodies (AGBIS) and the Headmaster is now a member with the Headmaster/Headmistresses conference (HMC).
## Trustees
Candidates identified as potential new Governors are recommended by the Governance and Nominations Committee.
Governors receive a comprehensive induction into the workings of the college and its activities. Appropriate training is provided to all Governors through attendance at outside events and internally organised courses. This training includes the specific responsibilities that Governors have under charity law. Governors receive comprehensive and regular safeguarding training.
No Governors received any remuneration and details of Governors’ expenses and related party transactions are disclosed in the notes to the accounts.
## Management and Leadership
The management of the college is delegated to the Head and the senior leadership team. The Governors work closely with the Senior Leadership Team, many of whom routinely attend Governor Committees.
## Management of Risk
The oversight of the management of operational risk as exercised by the college executive is exercised through the governors’ sub-committees and strategic risk by the full board of governors.
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
Risks are considered under the following headings, politics, economics, regulatory, legal, safeguarding, strategic direction, reputation, financial, academic, health & safety, human resources, estates and grounds, IT, catering, transport, and housekeeping.
The critical risks considered during the period have included safeguarding, regulatory compliance, financial, student numbers, destabilising change, staff wellbeing, network infrastructure.
## **OBJECTIVES, ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE**
Objects of the charity
During the year the objects of the charity were:
- The education of children, young persons, and mature students in accordance with the principles of the Roman Catholic faith and the spirit of the rule of St Benedict
- The advancement of the Roman Catholic faith and
- Such other charitable purposes in connection with the advancement of education which are in accordance with the general aims of the St Laurence Education Trust and of the Roman Catholic faith as the Governors think fit from time to time
Aims
The mission of the St Laurence Education Trust is:
- To include families in the formation of spiritual, moral, and intellectual formation of their children
- To invite students through the Catholic and Benedictine tradition into a life of faith
- To work for excellence in every endeavour; to love learning and to pursue the truth
- To strive for the flourishing of each student; so that they may become agents for change through service and leadership
Principal Activities of the charity for the year
The principal activities were the provision of education to boys and girls from the ages of 11 to 18.
The education provided is consistent with the Catholic and Benedictine ethos, with 4 monks involved in teaching and as chaplains in the houses, although the whole monastic community are involved in the development of the College’s spiritual life, and in fulfilling its aims of being a Benedictine school with a Catholic mission in line with this.
## Bursaries and Grants Policy
Bursaries and grants totalling £2,174,000 (2022: £2,395,000) were made, £1,831,000 from within unrestricted funds and £263,000 from restricted funds. This includes £110,000 from the Ampleforth Abbey Trust, which holds a number of funds for bursaries, scholarships, and other grants. The Governors' policy, in line with that of other independent schools, is to make these awards based on the individual's educational ability and family circumstances. There is a Bursary Policy defining the processes and committees to administer the awards.
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## Public Benefit
When planning activities for the year the Governors have considered the Charity Commission guidance on public benefit.
The Governors enable students to attend the college who would not otherwise be able to afford the fees by providing bursary support, and arrangements are in place to enable those attending local state schools to make use of Ampleforth’s facilities and services. Examples are set out below. Incidental public benefit is also provided, such as students raising funds for other charities and to support those less privileged than themselves.
## Activities during the year:
- The College is currently involved in a wide range of collaborative projects with local state schools, with the aim of supporting their teachers’ knowledge and skills and providing leadership experience at different levels
- The College runs an extensive Outreach Programme, supporting pupils and staff from many secondary schools in the region. Pupils from other schools are able to use the College’s facilities and teachers can access individuals with specific expertise and share best practice. Examples of recent and planned outreach activities include:
- Sports coaching and refereeing workshops for pupils and teachers, run by county and national level players who work on the Ampleforth staff
- Master classes and/or enrichment days in Maths, English, Physics, Chemistry and Music
- Leadership and team building programmes for young people
- A wide range of musical events which allow primary and secondary pupils to participate in choirs, instrumental workshops **,** and community opera
- The College organises a Higher Education Conference, which provides a forum for pupils from local schools to join presentations and discussion about tertiary education and careers. The conference this year was held on-line.
- The College has extensive programmes to raise funds for other charities and to engage in good works, including:
- Face-faw (Friendship and Aid to Central and Eastern Europe Friendship and Aid to the World) a student-led charity. Through this charity funds are raised for a wide variety of charitable projects such as Mary’s Meals, The Yorkshire Air Ambulance, three local hospices, refugees, a children’s centre in Kenya and a school in a deprived area in Chile. Face-faw continued to support the construction of the Nick van der Borgh Primary School in Zanzibar.
- The Friendship Holiday - a large number of sixth form students help to provide an annual holiday based at Ampleforth for pupils from Oakfield School, Nottingham, a specialist sports college for students with mental, physical, and other disabilities. College students raise funds to support this holiday, by arranging various fundraising events throughout the year and help to look after the pupils during their stay.
- Approximately 50 students from the College participate in the annual Ampleforth to Lourdes Pilgrimage. The week of the pilgrimage is devoted to prayer and the service of the sick.
- Provision of access to Schools: For 2022/23 the College allocated 83 means tested bursaries, totalling £1,362,416 being 8.9% of the gross fee income. Of these there were 10 students whose parents receive substantial support (defined as more than 75% of their fees). The College aims to continue to
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
raise funds for the bursary fund which provides places for students requiring substantial assistance with the fees.
## The Academic Year 2022/23
## Academic
The curriculum at Ampleforth is designed to provide a broad and balanced education for students where all are given the opportunity to study a wide range of subjects in a specialist, supportive environment. In Years 9 to 11, students follow a core curriculum in English, Mathematics, Science, PE, Christian Theology, and Christian Living. A number of ancient and modern languages are offered, and students are expected to take at least one to GCSE. Students also have access to excellent teaching in History, Geography, Art, Music, Design and Technology, Drama and Computer Science. For Sixth Form, students can choose from a large selection of A levels and BTECs and are given the freedom to opt for a full programme of A levels or BTECs or a combination of the two. The Higher Project Qualification (HPQ) and the Extend Project Qualification (EPQ) run in parallel with GSCEs and A Levels respectively as project qualifications, which allow students to exercise independent research in a field of study which is of interest to them. Ampleforth welcomes students with a range of abilities and is proud of its academic success, providing excellent academic support for students and a full post-results service.
In 2023, 36% of A level grades were A*-A with 84% A*-C. Students also achieved 44% of grades 9 – 7 at GCSE, with 88% of grades at 9 – 4. Leavers go on to a variety of destinations, including Oxbridge and the Russell Group Universities, and the College also supports students interested in applying to destinations in the US, Canada, Europe, and elsewhere.
## Co-Curricular and Activities
The Ampleforth tradition emphasises the importance of educating the whole person and provides plenty of opportunities for students to get involved in an extensive array of co-curricular activities. Sport is an integral part of life at Ampleforth, and the College has a long tradition of sporting excellence. Whilst representing Ampleforth at competitive sport is considered an honour and a privilege, there are opportunities to participate for students at every skill level. Rugby, hockey, netball, cricket, and tennis are Ampleforth’s five key sports, but there are opportunities to take part in everything from squash to yoga to water polo throughout the year. There is also a strong Equestrian programme, with a new Outdoor Arena opened in 2018 including Dressage and Show Jump facilities.
Students can also take part in large and small-scale performing arts productions including theatre, dance, and music, as well as backstage activities and broadcasting through Ampleforth Television.
A particularly high number of students choose to participate in the Combined Cadet Force, with Army and RAF sections offered. Many also take part in the Duke of Edinburgh award, with regular expeditions to the North Yorkshire Moors, the Dales, the Lake District, and Scotland.
There are a myriad of clubs and societies on offer, with every possible hobby catered for, from debating to Land Rover restoration to a Highland pipe band.
Students also participate in copious volunteering opportunities throughout the year and a dedication to service lies at the heart of an Ampleforth education.
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## Spirituality
Ampleforth's grounding in Gospel values offers a way of life which is a contemporary response to the needs of young people today. Students, staff, and parents are invited into a transforming encounter with Christ through active participation in the life of a living Christian community.
All at Ampleforth are formed by the Word, the Sacraments, and good works. Student led Lectio groups, service projects and charitable initiatives are not taken for granted and flourish here. The spiritual life and mission of the college is an invitation extended to every single student regardless of background.
## Boarding
There are eight boarding houses at Ampleforth: three for girls, four for boys, and a dedicated Junior House for Years 7 and 8. Each House is home to up to 70 students of all ages who live in a friendly and supportive atmosphere, usually described as a second family.
The vast majority of students are boarders, but day students are fully integrated into the life of a House and are allocated their own study space, as well as having the option to stay overnight on occasion. Spirituality is a key part of House life, and morning and evening prayers, Mass, and seasonal prayers are centred on each student’s House and House Chapel
## Key objectives and achievements for this year included:
Ampleforth College – To offer each pupil the opportunity and invitation to encounter Christ and to share their Christ-given gifts with others, as well as to learn to serve the needs of others and grow in understanding of ourselves on a spiritual, intellectual, and personal level. An Ampleforth education seeks to nurture the mind, body and spirit. Ampleforth teaches by its holistic view of education that the more you put into the shared life of the College, the more you learn, grow and begin to understand. All pupils are engaged with their studies as a Benedictine scholar, an approach which is centred on attentiveness, listening, respect, curiosity, writing, praying and discussion. Outstanding pastoral care of each pupil continues to be the outstanding feature of the College.
## Inspection
The College has been busily preparing for a full Ofsted Inspection, verification visits from HMC and AGBIS, as well as an impending Diocesan Inspection.
The transformation of the membership of the Governing Body, demanded by the DofE is not complete.
## PLANS FOR THE FUTURE
## Plans for and review of 2023-2024
The Robin Dyer cricket nets have been completed in October 2023. Work on making the boarding side of Ampleforth more cohesive and centred in the middle of the campus has been undertaken. A comprehensive review of the curriculum is ongoing. The new gates and fence have been installed and are an impressive addition to the campus, as well as ensuring the safety of pedestrians and underlining the college’s commitment
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
to excellence in safeguarding. The commitment of the college to the full range of co-curricular life and the benefits of full boarding remains undiminished, although the college remains family friendly and flexible in response of the needs of individual pupils.
## Fundraising
All fundraising staff are professionally trained **,** and all activities of the department are carried out in accordance with standards and guidelines set by the Institute of Development Professionals in Education (IDPE). Donors are kept informed of how their donations are being used and the impact their philanthropy has for Ampleforth. Where the donor restricts the application of their donation, the gift is applied to the purpose originally intended. Donors' rights to privacy are also respected and the College fully complies with the General Data Protection Regulation (GDPR).
Members of staff and students organise various fundraising events and activities in support of the wider community and charitable causes. The college does not use any commercial participators or professional fundraisers. The college is registered with the Fundraising Regulator and as a result has signed up to the Code of Fundraising Practice, and no complaints have arisen this year.
## Employees
The College’s policies for recruitment, training, career development and promotion of employees are based on the role and capability of the individual and give those who are disabled equal treatment with the able bodied. In addition **,** the College does not discriminate against employees or potential employees on the basis of race, colour, nationality, ethnic or national origin, religion, political beliefs, sex **,** or marital status. Where appropriate employees disabled after joining the College are given suitable training for continuing employment with the College or elsewhere.
## FINANCIAL REVIEW
The Financial results for the period are shown on page 15 of the financial statements.
Gross fee income was £15,422,000 (2022: £16,236,000) before scholarships and bursaries of £2,174,000 (2022: £2,395,000). The net incoming resources for the year were £2,313,000 (2022: Incoming £1,624,000).
The net income includes a donation of £2,752,000 that relates to a write off of a historic balance with Ampleforth Abbey Trust with their agreement.
Cashflow remained strong, the result of ongoing improved operating results, better collection of fees and improved working capital management.
## Reserves policy
Historically and from the formation of the College any surpluses generated by it were transferred to the Ampleforth Abbey Trust. The only reserves that were retained were sufficient to cover working capital requirements.
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
The Governors have identified the need to build up a general fund reserve and are considering the level required.
Going concern
At the year end the College had net assets of £1,409,000 (2022: liabilities £2,528,000). The College made a surplus in the year.
The Governors have prepared detailed forecasts which have been flexed to take account of the current environment to the best of their knowledge and its expected impact on pupil numbers.
Cashflow has continued to improve during the year and post year end **,** and the College has a net current asset position. This is sufficient to confirm the College as a going concern, after taking into account reasonable sensitivity analysis around the most recent forecasts.
The Governors’ report and strategic report is approved by the board and signed on its behalf by:
Mr E Sparrow Chair of Governors
Date 16[th] May 2024
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## Statement of trustees’ responsibilities
The Trustees (who are also directors of St Laurence Education Trust for the purposes of company law and also referred to as the Governors within these accounts) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charities SORP (FRS 102).
- make judgements and estimates that are reasonable and prudent.
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The **T** rustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## In so far as the Trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- • the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Independent Auditor’s Report to St Laurence Education Trust, a Company Limited by Guarantee
## Opinion
We have audited the financial statements of St Laurence Education Trust for the year ended 31 August 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:
- give a true and fair view of the charitable company’s state of affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended **.**
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the Companies Act 2006.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## Other information
The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained during the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken during the audit:
- the information given in the Trustees’ Annual Report which includes the Directors’ Report and the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees’ Annual Report which includes the Directors’ Report, and the Strategic Report has been prepared in accordance with applicable legal requirements .
## Matters on which we are Required to Report by Exception
In the light of the knowledge and understanding of the charitable company and its environment obtained during the audit, we have not identified material misstatements in the Trustees’ Annual Report and Strategic Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; 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 .
## Responsibilities of Trustees
As explained more fully in the Trustees’ Responsibilities Statement set out on page 10, the Trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so.
## Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.
## Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the Trustees, discussions within our audit team planning meeting, updating our record of internal controls, and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with Trustees and updating our understanding of the sector in which the charitable company operates.
Laws and regulations of direct significance to the charitable company include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales. Further the charitable company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, through significant fine, litigation or restrictions on the charity’s operations. We identified the most significant laws and regulations to be the Independent School Standards as found in the Education and Skills Act 2008 and guidance issued by the Department for Education.
## Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities including Ofsted reports to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected, or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## Use of our report
This report is made solely to the charitable company’s members and the Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members, and Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## Saggpeng LLP
## Sally Appleton (Senior Statutory Auditor) for and on behalf of Saffery LLP
|Chartered
Accountants|Saffery LLP
Mitre House
Harrogate|
|---|---|
||HG1 5RX|
## Statutory Auditors
## Date: 20 May 2024
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
**Statement of financial activities (Incorporating an Income and Expenditure Account)** _for the year ended 31st August 2023_
|**Income from:**
_Note_
**Charitable activities**
School fee income
_2_
Ancillary trading income
_2_
**Other income**
Grant Income
_2_
Sundry Income
_2_
**Other trading activities**
Other activities
_3_
**Investments**
Bank and other interest
_4_
**Donations and legacies**
Donations
_5_
Donations from Ampleforth Abbey Trust
**Total incoming resources**
**Charitable activities**
Education and grant making:
**Total expenditure**
_6_
**Net income/(expenditure)**
Fund transfer
Fund balances brought forward
Fund balance carried forward|_2023_
£'000
_Unrestricted_
13,511
404
-
-
123
120
2,752
16,910
15,001
15,001
**1,909**
200
(949)
1,160|_2023_
£'000
_Restricted_
-
-
-
-
-
677
-
677
273
273
**404**
(200)
45
249|_2023_
_2022_
£'000
£'000
_Total_
_Total_
13,511
15,089
404
396
-
-
-
142
123
3
120
14
677
1,279
2,752
-
17,587
16,923
15,274
15,299
15,274
15,299
**2,313**
**1,624**
-
-
(904)
(2,528)
1,409
(904)|
|---|---|---|---|
All the above results are derived from continuing activities. There are no recognised gains and losses other than those passing through the statement of financial activities.
The notes on pages 18 to 27 form part of these financial statements.
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_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **Balance sheet**
_as at 31st August 2023_
||_Note_|_2023_|_2022_|
|---|---|---|---|
|||£'000|£'000|
|**Fixed assets**||||
|Tangible assets|_8_|958|420|
|**Current assets**||||
|Stocks|_9_|91|86|
|Debtors|_10_|924|1,081|
|Cash and deposits||4,019|4,460|
|||5,034|5,627|
|**Current liabilities**||||
|Creditors payable within one year|_11_|(3,855)|(3,362)|
|**Total assets less current liabilities**||2,137|2,685|
|**Long term liabilities**||||
|Creditors payable after one year|_12_|(728)|(3,589)|
|**Net assets/(liabilities)**||1,409|(904)|
|**Reserves**||||
|Restricted funds|_15_|249|45|
|Unrestricted funds|_15_|1,160|(949)|
|||1,409|(904)|
Signed on behalf of the Board of Governors and authorised for issue by:
Mr E Sparrow, Trustee
16 May 2024
Registered company number: 3415320
16
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
|**Statement of Cash Flows**
_for the year ended 31st August 2023_
_Note_
**Net cash inflow from**
**operations**
_16_
**Cash inflow from operations**
**Cashflow from investing activites**
Purchase of fixed assets
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|_2023_
£'000
_2022_
£'000
213
1,640
213
1,640
(654)
(407)
4,460
3,227
4,019
4,460|
|---|---|
17
**Notes**
_(forming part of the accounts)_
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **1 Accounting policies**
The accounts have been prepared under the Companies Act 2006 and in accordance with the Charities Statement of Recommended Practice (SORP FRS102) and Financial Reporting Standard 102. The accounts are drawn up on the historical cost basis of accounting. The Trust constitutes a public benefit entity as defined by FRS 102.
## **Going Concern**
At the year end the trust had net assets of £1,409,000.
The Governors have prepared detailed forecasts as part of the recovery plan which have been flexed to take account of the current environment to the best of their knowledge and its expected impact on pupil numbers, including the current position with regard to overseas students and visas. Cashflow continues to improve and is sufficient to confirm the trust as a going concern,even after taking into account reasonable sensitivity analysis around the most recent forecasts.
The following accounts policies have been applied consistently in dealing with items which are considered material in relation to the Charity's financial statements.
## **Pension schemes**
Retirement benefits to academic employees of the school are provided by The Teachers' Pension Scheme (TPS). This scheme is a multi employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the Trust and therefore, as required by FRS102, accounts for the scheme as if it were a defined contribution scheme. The Charity's contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable.
Non teaching staff are members of a defined contribution scheme. The assets of the schemes are held separately from the Trust in independently administered funds. The amount charged to the Statement of Financial Activities represents the contributions payable to the scheme in respect of the accounting period.
## I **ncome**
Fee income represents the amounts receivable for fees, less any scholarships, bursaries or discounts from unrestricted funds. Income is accounted for in the period in which the service is provided. Extras relate to ancillary charges but exclude items where the charity is effectively acting as an agent and is simply recharging for costs incurred on behalf of the students.
## **Donations, legacies and fund accounting**
Incoming resources received by way of grant, donation or legacy to fund general or specific activities are recognised where there is entitlement, the amount can be reliably quantified and the economic benefit to the Charity is considered probable. Donations received for the general purpose of the Trust are credited to unrestricted funds. The Trust may at its discretion set aside funds for specific purposes as designated funds which would otherwise form part of the general reserves of the Trust. Donations subject to specific wishes of the donors are credited to relevant restricted funds, or to endowed funds where the amount is required to be held as permanent capital.
## **Stocks**
Stocks are stated at the lower of cost and net realisable value.
## **Expenditure**
Expenditure is recognised when a liability is considered probable, discounted to present value for longer-term liabilities. Expenditure is summarised under functional activity headings either on a direct cost basis, or for overhead and support costs, apportioned according to a number of evaluation criteria. These include absorption based upon floor space, number of staff, estimates of actual consumption and time in use.
## **Operating leases**
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
## **Financial instruments**
The Trust only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured as amortised cost using the effective interest method.
## **Composition Fees**
Composition fees represent amounts received in respect of future fees. Interest is added to the amounts annually and the balance is then used to offset against pupils' fees.
## **Fixed assets**
Leasehold improvements are capitalised and depreciated over 10 to 20 years on a straight line basis, and plant and equipment is capitalised and depreciated over 4 years on a reducing balance basis.
18
**Notes** _(continued)_
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
|**2**
**Charitable activities**
**a) Fees receivable**
Fees receivable consist of:
School fees
Less: total scholarships, bursaries and discounts
Less: Covid related fee remissions
Add back: Bursaries paid for by restricted funds|_2023_
_2022_
£'000
£'000
Total
Total
15,422
16,236
(2,174)
(2,395)
-
-
13,248
13,841
263
1,248
13,511
15,089|
|---|---|
There were 214 (2022: 220) recipients of bursaries and discounts. Within this means tested bursaries of £1,362,416 were awarded to 83 students (2022: £1,588,273 to 95 students).
All current and prior year income from charitable activities is unrestricted.
|**b) Ancillary trading**
Extras
Registration fees and retained deposits
All current and prior year trading income is unrestricted.
**c) Other Income**
Sundry Income
The prior year other income was all unrestricted.
**3**
**Other trading activities**
**Other activities**
Lettings
Interest on overdue fees
All interest was unrestricted in prior year.
**4**
**Bank and other interest**
Bank and other Interest
All interest was unrestricted.|_2023_
£'000
Unrestricted
-
_2023_
£'000
Unrestricted
118
5
123
_2023_
£'000
Unrestricted
120|_2023_
£'000
Restricted
_2023_
£'000
Restricted
-
-
-
_2023_
£'000
Restricted
-|_2023_
£'000
Total
387
17
404
_2023_
£'000
Total
-
_2023_
£'000
Total
118
5
123
_2023_
£'000
Total
120|_2022_
£'000
Total
370
26|
|---|---|---|---|---|
|||||396|
|||||_2022_
£'000
Total
142|
|||||_2022_
£'000
Total
-
3|
|||||3|
|||||_2022_
£'000
Total
14|
||||||
19
|
**Notes**_(continued)_
_2023_
**5**
**Donations and legacies**
£'000
Unrestricted
Donations
-
Legacies
-
Donation from Ampleforth Abbey Trust
-
Donation from Ampleforth Abbey Trust (i)
2,752
2,752
(i) group donation from AAT - historic inter company account
**6**
**Analysis of expenditure**
_2023_
**6a**
**Total expenditure**
_Staff costs_
£'000
**Charitable activities**
**Education and grant making**
Teaching and welfare
8,186
Premises
573
Other
204
Support costs and governance
1,327
Grants, awards and prizes (restricted)
-
10,290
**6b**
**Governance included in support costs:**
Remuneration costs paid to auditor for audit services
Governor related expenses and training including reimbursement of travel
Other|_St Laurence Education Trust_
_Governors' report and financial statements_
_31st August 2023_
_2023_
_2023_
_2022_
£'000
£'000
£'000
Restricted
Total
Total
567
567
228
-
-
-
110
110
1,051
2,752
-
677
3,429
1,279
_2023_
_2023_
_2022_
_Other_
_Total_
_Total_
£'000
£'000
£'000
1,004
9,190
8,919
2,568
3,141
2,672
275
479
365
874
2,201
2,095
263
263
1,248
4,984
15,274
15,299
_2023_
_2022_
_Total_
_Total_
£'000
£'000
20
20
13
9
21
25
54
54|_St Laurence Education Trust_
_Governors' report and financial statements_
_31st August 2023_
_2023_
_2023_
_2022_
£'000
£'000
£'000
Restricted
Total
Total
567
567
228
-
-
-
110
110
1,051
2,752
-
677
3,429
1,279
_2023_
_2023_
_2022_
_Other_
_Total_
_Total_
£'000
£'000
£'000
1,004
9,190
8,919
2,568
3,141
2,672
275
479
365
874
2,201
2,095
263
263
1,248
4,984
15,274
15,299
_2023_
_2022_
_Total_
_Total_
£'000
£'000
20
20
13
9
21
25
54
54|
|---|---|---|
|||1,279|
|||_2022_
_Total_
£'000
8,919
2,672
365
2,095
1,248|
|||15,299|
|||_2022_
_Total_
£'000
20
9
25|
|||54|
Included within Charitable activities is a rental charge of £238,392 (2022: £347,880) from Ampleforth Abbey Trust
20
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
**Notes** _(continued)_
## **7 Staff numbers and costs**
The average number of persons employed during the year directly by the company was 230 (2022: 233).
The average number of persons (full time equivalent) employed by functions was:
|**Schools:**
Teaching and welfare
Premises
Support costs and governance
Other activities
The aggregate payroll costs of these persons were as follows:
Wages and salaries
Social Security costs
Pension contributions - defined benefit
Pension contributions - defined contribution
Aggregate employee - benefits of key management personnel
(relates to 4 individuals, 2021: 3)|_2023_
157
27
28
7
219
_2023_
£'000
8,430
825
835
200
10,290
421|_2022_
158
27
29
7|
|---|---|---|
|||221|
|||_2022_
£'000
8,146
803
843
186|
|||9,978|
|||455|
||||
Redundancy and termination payments of £32,750 (2022: £22,266) were incurred during the year relating to 2 employees
The number of staff earning in excess of £60,000 per annum were as follows:-
||_2023_|_2022_|
|---|---|---|
|£60,000 - £70,000|7|6|
|£70,001 - £80,000|2|-|
|£80,001 - £90,000|2|1|
|£90,001 - £110,000|1|1|
|£120,000-£140,000|-|1|
|£140,000-£160,000|1|-|
|£180,000 - £200,000|-|1|
Of the above 5 (2022: 6) were accruing retirement benefits under the Teachers' Pension Defined Benefits Scheme and nil (2022: nil) under defined contribution schemes.
21
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **Notes** _(continued)_
## **8 Tangible assets**
|**Cost**
Balance at 31st August 2022
Additions
Disposals
Balance at 31st August 2023
**Accumulated depreciation**
Balance at 31st August 2022
Charge for the year
Balance at 31st August 2023
**Net book value**
At 31st August 2023
At 31st August 2022|_Plant and_
_Machinery_
£'000
388
18
(2)
404
117
66
183
221
271|_Buildings_
£'000
162
636
-
798
13
48
61
737
149|_Total_
£'000
550
654
(2)|
|---|---|---|---|
||||1,202|
||||130
114|
||||244|
||||958|
||||420|
22
|
**Notes**_(continued)_
**9**
**Stocks**
Goods for resale
**10**
**Debtors**
Trade debtors
Amount owed from group undertakings
Prepayments
Other
**11**
**Creditors:**amounts falling due within one year
Trade creditors
Fees received in advance of term
Amount owed to group undertakings
Confirmation fees
Composition fees (Fees in advance scheme)
Accruals
Other creditors|_St Laurence Education Trust_
_Governors' report and financial statements_
_31st August 2023_
_2023_
_2022_
£'000
£'000
91
86
91
86
_2023_
_2022_
£'000
£'000
503
596
-
190
399
267
22
28
924
1,081
_2023_
_2022_
£'000
£'000
201
180
2,481
2,341
81
-
182
183
358
153
228
124
324
381
3,855
3,362|_St Laurence Education Trust_
_Governors' report and financial statements_
_31st August 2023_
_2023_
_2022_
£'000
£'000
91
86
91
86
_2023_
_2022_
£'000
£'000
503
596
-
190
399
267
22
28
924
1,081
_2023_
_2022_
£'000
£'000
201
180
2,481
2,341
81
-
182
183
358
153
228
124
324
381
3,855
3,362|
|---|---|---|
|||86|
|||_2022_
£'000
596
190
267
28|
|||1,081|
|||_2022_
£'000
180
2,341
-
183
153
124
381|
|||3,362|
Confirmation fees are deposits that are repayable when the pupil leaves the school and are technically repayable on demand, however it is expected that they will be repayable as follows:
|Within 1 year
Within 1 to 2 years
Within 2 to 5 years
Over 5 years|_2023_
£'000
182
143
367
30
722|_2022_
£'000
183
200
374
29|
|---|---|---|
|||786|
Composition fees: Parents may enter into a contract to pay the Schools in advance for a number of years. The money may be returned subject to specific conditions on the receipt of notice. The current year figures include new receipts of £391k, and £232k applied against fees in the year.
## **12 Creditors:** amounts falling due after more than one year
|Confirmation fees
Composition fees
Amounts owed to group undertakings
23|_2023_
£'000
540
188
-
728|_2022_
£'000
603
233
2,753|
|---|---|---|
|||3,589|
## **Notes** _(continued)_
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **13 Analysis of net assets between funds**
|Fund balances at 31st August 2023 are
represented by:
Current assets
Current liabilities
Long term liabilities
Fund balances at 31st August 2022 are
represented by:
Current assets
Current liabilities
Long term liabilities|_2023_
_Unrestricted_
£'000
5,743
(3,855)
(728)
1,160
_2022_
_Unrestricted_
£'000
6,002
(3,362)
(3,589)
(949)|2023
_Restricted_
£'000
249
-
-
249
_2022_
_Restricted_
£'000
45
-
-
45|_2023_
_Total_
£'000
5,992
(3,855)
(728)
1,409
_2022_
_Total_
£'000
6,047
(3,362)
(3,589)
(904)|_2022_
_Total_
£'000
6,047
(3,362)
(3,589)|
|---|---|---|---|---|
|||||(904)|
|||||_2021_
_Total_
£'000
4,151
(3,659)
(3,020)|
|||||(2,528)|
## **14 Pension and similar obligations**
There are two pension schemes to which contributions were made:
**14a** The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.
The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the 'McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.
On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The Government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.
24
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **Notes** _(continued)_
The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020 and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses.
In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results that those contained in the Actuarial Valuation. Until the consultation and the cost cap mechanism review are completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements.
## **14b The St Laurence Education Trust Money Purchase Scheme**
The scheme is administered by Legal and General. The employer's contributions are charged to the Statement of Financial Activities in the period in which the salaries to which they relate are due.
|**15a**
**Movements on funds**
**Restricted funds**
Bursary fund (i)
Donations towards bursaries (ii)
Annual fund - Cricket Nets
Annual fund - Fence project
**Unrestricted funds**
General fund
**Total funds**|_Balance at_
_31-Aug-22_
£'000
45
-
-
45
(949)
(949)
(904)|_Income_
£'000
263
10
204
200
677
16,910
16,910
17,587|_Expended_
£'000
(263)
(10)
-
-
(273)
(15,001)
(15,001)
(15,274)|_Transfer of_
_funds_
£'000
_Balance at_
_31-Aug-23_
£'000
-
-
-
(200)
45
-
204
-
(200)
249
200
1,160
200
1,160
-
1,409|
|---|---|---|---|---|
(i) The bursary fund was set up to provide bursary assistance.
(ii) The bursary fund is made up of parent donations.
(iii) The annual fund in made up of parent donations and other donations.
25
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **Notes** _(continued)_
## **15b Movements on funds - Comparative**
|_Balance at_
_31-Aug-21_
£'000
_Income_
£'000
**Restricted funds**
Bursary fund (i)
Donations towards bursaries (ii)
Annual Fund (iii)
45
34
22
1,189
25
4
101
1,218
**Unrestricted funds**
General fund
(2,629)
15,705
(2,629)
15,705
**Total funds**
(2,528)
16,923
i) The bursary fund was set up to provide bursary assistance.|_Expended_
£'000
(1,189)
(59)
(26)
(1,274)
(14,025)
(14,025)
(15,299)|_Balance at_
_31-Aug-22_
£'000
45
-
-|
|---|---|---|
|||45|
|||(949)|
|||(949)|
|||(904)|
||||
## **16 Notes to the Cash Flow Statement**
## **16a Reconciliation of net incoming resources to net cash flow from operations**
|**Net Income**
Elimination of non-operating cash flows:
(Increase)/decrease in stock
Increase in debtors
(Decrease)/increase
in creditors
Depreciation
Net cash inflow from operating activities
**16b Analysis of cash and cash equivalents**
Cash at bank and in hand
26|_2023_
£'000
2,313
(4)
158
(2,367)
113
213
_2023_
£'000
4,019
4,019|_2022_
£'000
1,624
-
(358)
277
97|
|---|---|---|
|||1,640|
|||_2022_
£'000
4,460|
|||4,460|
||||
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **Notes** _(continued)_
## **17 Related party transactions**
£3,112 (2022: £4,521) of travel expenses were reimbursed to 6 (2022: 8 ) Governors during the year.
The Ampleforth Society promotes the interests of former students of Ampleforth College and it provides funds for bursaries at Ampleforth College.
During the year the St Laurence Education Trust paid across £67,055 (2022: £69,664) from net fee income across to the Ampleforth Society and the Society provided £77,000 (2022: £75,810) to St Laurence Education Trust for bursaries.
The following transactions took place with the parent charity, Ampleforth Abbey Trust:
||_2023_|_2022_|
|---|---|---|
||£'000|£'000|
|- recharges to the St Laurence Education Trust for a proportion of|||
|centrally managed costs.|190|121|
|- rental charge by Ampleforth Abbey Trust for use of land and buildings|260|264|
|- balance at the year end owed (to) the Ampleforth Abbey Trust|(81)|(2,785)|
|- balance at the year end owed by the Ampleforth Abbey Trust|||
|The following transactions took place with Ampleforth Abbey Trading Limited, a fellow subsidiary of the|The following transactions took place with Ampleforth Abbey Trading Limited, a fellow subsidiary of the|The following transactions took place with Ampleforth Abbey Trading Limited, a fellow subsidiary of the|
|---|---|---|
|Ampleforth Abbey Trust:|||
|Charges from Ampleforth Abbey Trading for use of residential properties,|111|148|
|other properties and the sports centre.|||
|Purchase of Stock - sports kit|-|-|
27
_St Laurence Education Trust Governors' report and financial statements 31st August 2023_
## **Notes** _(continued)_
## **18 Statement of financial activities - comparative figures by fund-type**
_for the year ended 31st August 2022_
|**Income from:**
**Charitable activities**
School fee income
Ancillary trading income
**Other Income**
Grant Income
Sundry Income
**Other trading activities**
Non ancillary trading income
Other activities
**Investments**
Bank and other interest
**Donations and legacies**
Donations
**Total incoming resources**
**Expenditure on:**
**Raising funds**
Other income generating activities
Financing costs
**Total deductible costs**
**Charitable activities**
Education and grant making:
**Donation to Ampleforth Abbey Trust**
**Total expenditure**
**Net movement in funds**
**Net movements in funds**
Fund balances brought forward at
31st August 2021
31st August 2022|_2022_
£'000
_Unrestricted_
15,089
396
-
142
-
3
14
61
15,705
-
-
-
14,025
-
14,025
**1,680**
(2,629)
(949)|_2022_
£'000
_Restricted_
_2022_
£'000
_Total_
-
-
15,089
396
-
-
142
-
-
-
3
-
14
1,218
1,218
1,279
16,923
-
-
-
-
-
-
1,274
15,299
-
-
1,274
15,299
**(56)**
**1,624**
101
(2,528)
45
(904)|
|---|---|---|
28