The Unicorn Trust (A company limited by guarantee} Registered Charity Number 1070807 Company Number 3588494 Annual Report and Financial Statements for the year ended 31st August 2024 Wenn Townsend Chartered Accountants Oxford
The Unicorn Trust Contents Page Legal and administrative infomiation Report of the Trustees Report of the independent auditor Statement of f inancial activities Balance sheet 10 Cash f low statement 11 Notes f oming part of the f inancial slalements 12-20
The Unicorn Trust Legal and administrative information GovernorslDirectors: A Strivens (Chair of Govemors) M Frostick {Deputy Chair of Govemors) N J Macdonald D Ward J Bennett (Resigned 29th June 2024) A Arul N Hargreaves {Resig ned 13th December 20241 F Love M Small (Safeguarding Govemorl (Resigned 31 sl August 20241 S Piper N Dinsey A Blackmore (Appointed 2nd March 2024) Company Secretary: K Johnson Headteach er: ADay Registered Office: 20 Marcham Road Abingdon Oxon OX14 1AA Audltor: Wenn Townsend Chartered Accountants 30 St Giles Oxford OXI 3LE Bankers: Handelsbanken Suite F Windrush Court Abingdon Business Park Oxon 014 1SY
The Unicorn Trust Report of the Trustees for the year ended 31st August 2024 Structure and Governance The Trustees, referred lo as G0vem0, are also Directors of the Charity for the purposes of the Companies Act 2006 and are named under the legal and administrative details sel out on page 1. They submit their annual report and the audited f inancial statements for the year ended 31 sl August 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORP)"Accounting and Reporting by Charities" and the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 sl January 2019) in preparing the annual port and f inancial slatements of the Charity. The Charity is a charitable company limited by guarantee and was incorporated on the 13th June 1998 and began operations on the 1st September 1998. The Charity is govemed by a memorandum of association drawn up on the 13th June 1998. Th8 Board of Trustees. along with the Headleacher, oversees the Charity and meet on a regular basis. The Unicom Trust is regulated by The Charity Commission for England and Wales, and, for its educational services, by Of sled. through the Independent Schoo15' Inspectorate. Board. Committees and Trustees The governing body brings a breadth of experience. knowledge and professional skills to the organisation. 11 provides induction and training lo new tnjstees. 11 is supported by the Cled( to the Govemors. The Board delegates detailed discussion and scrutiny of its key responsibilities to ils regular working Committees as set out below. The Board and it5 Committees meet at least once a temi on a fomial basis, and regular rneetings are held between trustees, the Headteacher and senior staf f throughout the year. Standing Committees are= Govemance Committee (chaired by Andrew Strivensl Education Committee (chaired by Marion Frostick) Finance and Estates Committee (chaired by Andrew Strivens) Remuneration Committee {chaired by Ary Arul) Fundraising & Marketing Committee {chaired by Naomi Harg reaves during the year) We are extremely grateful to Julia Bennett who resigned at the end of the year, for all the dedication and support she gave over many years of voluntary service. Malt Sm811 temporarily stood down from the Board to take on the role of Acting Headteacher, following a restructuring of the Trust's leadership positions. with effect from 1 September 2024. Our Vision To tTrnsform the lives of children with leaming diff erences and their f amilies. Mission Ststement To equip our students wth the necessary skills and confidence lo become independent leamers, so that they can recognise their personal strengths and communicate their individual needs, goals and values as they take on the next chapter. Our Core Values Respect where this means Self-Respe¢t, Tolerance, Understanding, Acceptance, Healthy Living and Mutual Respect Detemiination lating to - Focus, Perseverance. Resilience, Aspiration, Challenge, Dedication Teamwork through - Friendship, Fun, Communication, Kindness. Contribulion, Positivity
The Unicorn Trust Report of the Trustees for the year ended 31st August 2024 {continuedl Objectives Continue to deliver high quality teaching provision, ensuring all pupils leam, Ihrive and fulfil their potential. 2. Continually develop our teaching expertise in dyslexia, dyscalculia, dyspraxia, speech and language leaming diff erences. 3. Slep change our facilities provision to support and enhance our teaching provision. 4. Extend the impact of The Unicom School through a broad outreach programme. 5. Operate on a f inancially sustainable f ooting. f unding new inilialives through OpetIOnal cashf low and f und raising. How we meet our objectives: We offer the national cU]cUlum, tailored to the individual needs of each child, and we teach using a multi-sensory approach. We have a maximum of twelve students in each class, supported by both a teacher and a leaching assistant. Our staff are highly skilled and experienced at supporting students with leaming differences. We offer daily one-to-one sessions up to year 8. and study skills groups for years 9 and above. We use assistive technology throughout the school, even within the primary years. We are aware that students only leam when they feel safe. and we support them pastorally to create this environment. We focus on supporting the whole student, placing equal importance on supporting their mental health as well their academic joumey. We provide on-sile therapies including Occupational Therdpy. Speech and Language Therapy, Creative and Play therapies, Social Communication Sessions. and Emotional Support and Couns811ing. We build on our studenls. strengths and passions to provide tailored career guidance, helping to prepare them f or adullhood. We support parents and carers with their joumey, providing them wlth the inf Oation and resources to empower them to support their children outside of the school. We have a safeguarding team led by our full-lime, Designated Safeguarding Lead. Achievements and performance The School had 119 children on roll at the start of the year in September 2023 through to the end of the academic year. Circa 60°/o of our pupils are funded by Local Authorities. Mr Andrew Day continued as Headleacher and Mrs Alexandra Foster as Deputy Head and SENCO, acting as Head for part of the year. To dale school fees and donations have been the Charity's main source of income. In the f inancial year ended 31st August 2024 donations received amounted to £143.347 {2023: £93,166). School fees received amounted to £3,334,50012023.' £2.725.8481. Total receipts amounted to £3,920,68312023: £3,301.079). Costs of all the Charity's activities. including salaries, staff pension scheme, eq uipmenl and general running costs amounted to £3,506,917 12023: £3,005,963) leaving a surplus of £413,76612023'. £295,116) for the year. The School continues to provide full time education in line with the National Curriculum and continues to benefit from its CReSTeD. Elklan. and ASDAN accreditations. Academic Overview Academically this has been a very successf ul year. All our Year 11 graduates moved on to sixth f omi school or college, and we achieved our best GCSE results yel. On average our year 11 students progressed up three grades over the last three years and they all achieved grade 4 or above in English Literature, Art, Food and NLStrilion and the ASDAN qualif icalion.
The Unicorn Trust Report of the Trustees for the year ended 31st August 2024 {continuedl We have now been running the ASDAN PDP (personal development programmel for five years. This qualification supports young people lo develop life skills that will help them progress to f urther education and in a workplace, and for independent living. During 2025 The Unicom School wll apply to be an ASDAN centre of excellence on the advice of the moderators due to the positive way thal we deliver the PDP course. This year twelve students left us in-year lo move back into mainstream education. These transfers are only possible thanks to the skills and conf idence they have gained al The Unicom School. We continue to be at the foref ronl of using assistive technology to support our students, leaming. Students as young as Year 3 are taught how to use Immersive Reader and Dictate. supporting ihem to begin to become independent leamers. In September we were thrilled when Ihe school was recognised as the only SEN Microsof I Showcase School in the UK, highlighting our expertise in IT and assistive technology. Following this we were shortlisted for the British Dyslexia Association Organisalion Award for our use of assistive technology. We continue lo offer our students the opportunity to engage in a wide range of extra-curricular aclivilies. This year our students took part in a Young Voices concert in Bimingham, visited the London Science Museum, Harcourt Arfooretum, and Oxford Natural History Museum. We are also extremely proud of our students who achieved their bronze or silver Duke of Edinburgh Award Ihis year, as well as those students who have submitted their work to the Royal Academy of Arts Young Artists, Summer Show and the annual Young Writers Competition. We continue our partnership wlh Music for Autism, which gives our students the opportunity lo engage with woAd-class musicians, and they are lucky to have heard from a wide range of inspirational speakers. These include, but are not limited to. Anna Shackleton (Great Great Niece of Sir Emesl Shackleton), Cassie Patlen (Olympic swimmer), Alex Tait (Baker and Author). Gary Hibbins (Mental Health Advocalel and Eve Wersocki Monis {Dyslexic Author). Our students, mental health and wellbeing continues to be at the foref ront of everything we do. For the f irsl time we have been able to fund a full-time mental health lead who is available to support our students throughout the school day. They head up a team of Iwo Emotional Literacy Support Assislanls and a Creative Arts and Play Therapist. In January 2023 we also welcomed Briggs, a certified Therapy Dog to the school, who has been extremely well received by all our sludenls. In October 2022 we were humbled lo receive the Camegle Centre of Exc811ence Mental Health Gold Award, whlch recognises our school-wde approach to mental health support f or both students and staff. This continues to be updated annually. Fundraising All fundraising activity by The Charity is carried out in-house, led by our Head of Fundraising. We do not employ any third-paty suppliers to help us raise funds. When running fundraising events, the Head of Fundraising is supported by an active group of volunteers, made up of staff, parents and f riends of the school. In particular. the school has an 8Ctive Parent Teacher group who help to organise the school's annual Christmas and summer fairs. All volunteers who fundraise for the school are required to confinn that they comply with Ihe Code of Fund raising Practice. The Charity has dtje regard to the Code of Fundraising Practice in the UK. There have been no complaints aboul f undraising activity this year. The Fundraising events that have taken place this year are-. School Christmas Fair- December 2023 Blenheim 7K Running Event- May 2024 School Summer Fair- June 2024 In line with our Fundraising Strategy, our focus over the coming year is to increase income f rom Individ uals and Friends of the School, with a longer-term focus on Twsls and Foundations. This growih is needed to ensure we meet the funding needs of a new sile project of The Charity, which will be phased capital works. All the Charity's marf<eting activities are undertaken directly to ensure that this activity is not unreasonably persistent or intrusive. No extemal marketing campaigns are undertaken, and f undraising communication to the school community is a minor part of those communications and limited to specif ic events or initiatives.
The Uni¢orn Trust Report of the Trustees for the year ended 31st August 2024 {¢ontinuedl Public benefit The Trustees have complied with their d uly to have d ue regard to the g uidance on public benef it published by the Charity Commission in exercising their powers and duties through the introduction of specialist educational outreach activities to other schools, parents and professionals. Our staff continue to support local teachers. leaching assistants, Parents and carers, shaiing their knowledge, skills and experience of how to support children with leaming differences. This year we have shared best practice with over 30 teachers from local schools through our carousel and outreach events. We have also hosted students and teachers from Oxford. Texas and Gemiany and our Deputy Head has delivered sessiors to PGCE and B-Ed students on leaching students with special educational needs. We have also shared best practice around the use of assistive technology with our staff speaking at the British Dyslexia Show. EduTech Amsterdam and the BETh Global Technology Show. We have continued with our assessmenl centre to provide parents in the local area access to earlier d lag nosis for their children through f omial assessments, assessed by qualif led specialist staff . Children can be assessed f or dyslexia, dyspraxia, dyscalculia and autism. Future plans We have purchased a sile a short distance from our existing location which is for the expansion of The Unicom School. We have spent a lot of the academic year on the purchase and design of the additional site. The plans are for our Key Stage 4 to be based at the new location and introduce a Key Stage 5 provision based on independence including lif e skills and careers f rom 1 September 2025. Not only will this enable us to increase the number of students who we can support and widen subject options, but we wll also be able to offer a post-16 provision for the f irst time. We have designed The Unicom School wrth wellbeing and engagement at its core, and this wll remain the focus as we look to build on our experience and expertise so that we can support even more children with leaming d iff erences. Alongside our plans for growth, we will continue to provide the same wodd-class specialist provision for our current students. W8 are Increasingly being regarded as a centre of excellence at a national level and ar8 invited to speak at various events. Events we have attended during the year are the Dyslexia Show and EduTech Europe. Principal risks and uncertainties The Board and senior management team maintain a constant walch over risks to the organisation. maintaining a risk register of the more signif icant risks that can be anticipated. The register is scrutinised by the Board and senior management on a regular basis and updated and actioned as appropriate. Reserves policy The Charity cUentlY has £268,923 in respect of free serveS (excluding restricted funds and f ixed assets). due lo the purchase of the new site. The Trustees regularfy monitor the Charily's financial and cash flow position to ensure that il has sufficienl working capital available to meet any foreseeable expenditure and protect f rom the exposure to known risks plus contingency f or unexpected events. The organisation aims to maintain reseNes al a minimum level equivalent to 20 1¢ of annual school f ees. Auditors A resolution proposing ihat Wenn Townsend be re-appointed as auditors of the charity will be pul to the Annual General Meeling.
The Unicorn Trust Report of the Trustees for the year ended 31 st August 2024 (continued) Trustees, responsibilities The Trustees {who are also the directors of The Unicom Trust for the purposes of company law) are responsible f or preparing the TnJstees' Report and the f inancial slalemenls in accordance wlh applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare f inancial slalements for each financial year, which give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources, including the income and expend ilure, of the charitable company f or the year. In preparing these f inancial statements, the Tnjstees are required to: select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP- make judgements and eslimales that are reasonable and prudent,. stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the f inancial statements., prepare the f inancial statements on the going concem basis unless il is inappropriate to presume that Ihe charitable company will continue in operation. The Trustees are responsible for keeping adeq uate accounting records that disclose wth reasonable accuracy al any time the finan¢i81 position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible forsafeguarding the assets of the charitable company and hence for taking reasonable steps f or the prevention and detection of f raud and other IegUlatIes. In so f ar as the Trustees are aware.. there Is no r818vant audit infornation of which the charitable company's auditor Is unaware,. and the Tnjstees have laken all steps that they ought lo have taken to make themselves aware of any relevant audit inf onnalion and to establish that the aud ilor is aware of thal inf omiation. The Trustees are responsible for the maintenance and integrity of the Charity and financial infomation included on the Charity's websile. Legislation in the United Kingdom goveming the preparation and dissemination of f inancial statements may differ f rom legislation in other jurisdictions. This report was approved by the Board on 1st March 2025 Andrew Strivens Director and Chair of Governors
The Unicorn Trust Independent Auditor's Report to the members of The Unicorn Trust Opinion We have audited the financial statements of The Unicom Trust Ilhe 'charitable com pany'l for the year ended 31slAugust 2024 which comprise the Statement of Financial Activities, the Balance Sheet. the Cash Flow Slalements. and notes to the financial slalements, including a sum mary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Uniied Kingdom Accounting Standards. including Financial Reporting Standard 102 The FinancialReporting Sl8ndardapplicable in the UK8nd Republic of Ireland(Uniled Kingdom Generally Acceptsd Accounting Practice). In our opinion the financial statements.. give a Inje and fair view of the stale of the Charitable company's affairs as at 31 st August 2024. 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 requirements of the Companies Act 2006. Basis for oplnlon We conducted our auditin accordance with International Standards on Auditing (UK) (ISAS IUKII 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 thalare relevantto our auditof the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other 8lhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate io provide a basis for our opinion. Conclusions relatlng to going concgrn In auditing the financial stalemenls, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the finaneial stslements is appropriate. Based on the wort( we have perfomed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least iwelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem 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 Trustees, annual report. other than the financial slalements and our audilorfs report Ihereon. Our opinion on the financial statements does not cover the other information and, exceptto the exlenl otherwise explicidy stated in our repo¢ we do not express any fomi of assurance conclusion Ihereon. In connection with our audilof the financial stalemenls. ourresponsibilty is lo read the other information and, in doing so. considerwhelherlhe olherinfomialion is materially inconsislentwith the financial stslementsorour knowledge obtsined ui the auditor oiherwise appearsto be materially missialed. If we identifysuch material inconsistencies or apparent material m isstatements, we are required to determine whether there is a material miss12tement in Ihe financial statements or a material misslalement of the other information. If, based on the work we have performed. we conclude that there is a material m isstalement of this oiher informatson. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed bythe Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the infom81ion given in the Trustees. report (incorporating the directors, report) for the financial year for which the fln8nci81 statements are prepared is consislentwilh the financial statements,. and the directors, report included within the Iruslees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understsnding of the ch8ritsble com pany and its environment obtslned in the course of the audit, we have not identified material misstalemenls in the directors. report. We have nothing lo report respect of the following matters in relation to which the Companies Act 2006 requires us lo 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 stalernenls are r)ot in agreement with the accoynling records and returns., or certain disclosures of directors.. remuneration speclfied by law are not made,. or we have not received 811 the information and explanalions we require for our audit
The Unicorn Trust Independent Auditor's Report to the members of The Unicorn Trust {continued) Responsibilities of Trustees As explained more fully in the Trustees, responsibilities stslement sel out on page 6, the Trustees (who are also the directors of the charitsble companyforlhe purposes of company lawl are responsible for the preparation of the financial stalemenis and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessarylo enable the preparation of financid statements Ihatare free from material Misstatemt.whether due lo fraud or error. In preparing the fin8neial statements, the Trustees are responsible for assessing the charitable com pany's ability la continue as a going concern. disclosing, as applicable, matters relaied lo going concern and using the going concern basis of accounting unless the Trustees either intènd to liquidate the charitable com pany or lo ase operations, or have no realistic alternative bul to do so. Auditor's responslbilities for the audlt of the financial staternents Our objectives are to obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misstslemenl, whether due lo fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuranee. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstalemenlwhen il exists. Misstslements can arise from fraud or error and a considered material if, individually or in the aggregate, they could reasonably be expecied to Influen the ewnomic decisions of users taken on the basis of these financial stalemenls. A further description of our responsibilities for ihe audit of the financial statements is located on the Financial Repong Council's website al." Www.f.Org.ulaudlt0rsreSponSlbiIitses. This description forms part of our auditor's report. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wilh ourresponsibilities, oudined above. to delecl material misslatemenis in respect of irregularibes. including fraud. Th e specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.. Enquiry of management and those charged with governance around actual and potential litigation and claims., Reviewing minutes of meetings of those charged with governance., Reviewing financial statement disclosures and iesting to supporting documentation lo assess compliance with applicable laws and regulations., Performing audit work over the risk of management override of controls. including testing of journal entries and other adjustments for appropriateness. evaluating the business rationale of significant trdnsactions outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstalemenlin the financi81 statements or non-compliance with regulation. This risk increases the more that com pliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely lo become aware of instances of non-com pliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error. as fraud involves intentional concealment, forgery, collusion, omission or misrepresentstion. Use ofour report This report is made solelyto ihe charitable company's members. as a body, in accordance with Chaptsr3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so Ihatwe m ighl state lo the charitable company's members those matters we are required to stale to them in an auditor's report and for no other purpose. To the fullest extent pemitted by law. we do not accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Aiay Bahl A BFP FCA {Senlor Statutory Auditor) For and on behalf of Wenn Townsend Chartered Accountants and Statutory Auditor Oxford 1S1 March 2025
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The Unicorn Trust Balance Sheet At 31st August 2024 Notes 2024 2023 Fixed assets Intangible f ixed assets Tangible f rxed assets 11 12 20,355 2,880, 146 27,701 407,008 2,900,501 434,709 Current assets Debtors Cash al bank and in hand 13 1,430.536 828,954 879.875 1,444,371 2,259,490 2,324,246 Creditors- amount falling due within one year Provision for Liabilities 14 (1,706.1251 111,4001 (1,384,005) {1,717,525) (1,384,005) Net current assets 541,965 940,241 Total assets less Current liabilities 3,442,466 1,374,950 Creditors: amount falling due after one year 15 (1,653,750) Net assets 1.788, 716 1,374,950 Funds Unrestricted f unds Designated f unds ReslNcted funds 1,500,349 3.925 284,442 1,220,684 154.266 Total Funds 16 1,788,716 1,374,950 The financial statements have been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to smaller companies. The f inancial statements were approved by the Trustees on 1ST March 2025 and signed on their behalf by.. Andrew rivens Director and Chair of Governors Company number: 3588494 The notes on pages 12 to 20 form part of these accounts 10
The Unicorn Trust Cash Flow Statement At 31st August 2024 Notes 2024 2023 Net cash flow from operating a¢tivlties 19 248,398 809,486 Cash flow from investing activities". Purchase of tangible assets Purchase of intangible assets Interest received {2,543,9241 180,195) (3,445) 12.852 26,359 Net cash flow from investing activltles {2,517,5651 170,788) Cash flow from financing activities Proceeds from long temi borrowings 1,653,750 Net cash flow from financing activities 1,653,750 Net increasel(decreasel in cash (615,4171 738,698 Cash at 1 st September 2023 1,444,371 705.673 Cash at 31stAugust2024 828.954 1,444,371 The notes on pages 12 to 20 form part of these accounts 11
The Unicom Trust Notes fomiing part of the financial statements for the year ended 31st August 2024 Accounting policies {a) Basis of preparation The Financial Statements of the Charitable Company have been prepared on a going concem basis and under the hisloncal cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {eff ective October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102), the Charities Act 2011 and the Companies Act 2006. The financial statements are prepared in steding, which is the functional currency of the Charity, rounded to the nearest £1. The Charity constitutes a public benefit enlily as def ined by FRS 102. The significant accounting policies of the Charity are set out below and have been consistently applied to all years presented unless otherwise stated. Ib) Company charitable status The Charity is a company limited by guarantee. The Tnjslees who act as directors for the purposes of company law are the sole members of the company. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Chartty. The registered Charity number is 1070807. Ic) Fund accounting General f unds are unrestricted f unds which are available for use at the discretion of the Trustees in furtherance of Ihe general objectives of the Charity and which have not been designated for other purposes. Restricted f unds are f unds which are lo be used in accordance with specif ic restrictions imposed by donors or whlch have been rdlsed by the Charity for particular purposes. The cost of raising and administering such f unds are charged against the specif ic f und. The aim and use of each restricted f und is sel out in the notes to the f inancial slalements. (d) Investment policy The Charity invests surplus funds in 8 deposit account until required. (e) Income All income is included in the SOFA when the Charity is legally enlilled to the income and the amount can be q uanlif led wth reasonable accuracy. Income f rom charitable activities represents School fee charges and seNices rendered during the year. Fees relating to the Autumn School term received before the accounting year end are def erred in f ull. (f ) Expendlture All expenditure, inclusive of irrecoverable VAT, is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly altribuled lo particular headings they have been allocated to activities on a basis consistent th use of the resources. Fundraising costs are those incurred in seeking voluntary contributions. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. Govemance costs are those incurred in connection with the administration of the Charity and compliance with constitutional and statutory req uirements. 12
The Unicorn Trust Notes fomiing part of the financial statements for the year ended 31st August 2024 continued A¢¢ountlng policies (continued) (g) Tangible fixed assets and depreciation Tangible fixed assets wilh purchase costs greater than £500 are capitalised and included at cost. Deprecialion of f ixed assets is provided, at the followng rates, in order to write off the assets over their estimated usef ul lives.. Leasehold land and buildings Freehold buildings Freehold land Computer equipment Off ice f umiture and f ittings Playground and classroom equipment 100/0 Straig ht line 2 % slraight line after completion 2>33 /0 Straighl line 150/0 slraighl line 10-20 10 Straight line {hl Intangible fixed assets and amortisation Intangible fixed assets with ptjrchase costs greater than £500 are capitalised and included at cosl. Amortisation of inlang ible f ixed assets is provided, at the f ollowing rates, in order to write off the assets over their estimated usef ul lives: Website 20 % straight line Operating leases Renlals payable under operating leases are charged to the SOFA on a straight line basis over the lease term. lil Pension costs The Charity operates a defined contribution pension scheme through Scottish Widows for the benefit of its employees. Contributions payable are charged to the SOFA in the year they are payable. Contributlons totallng £26,381 (2023: £18,951) Vre payable to the schem8 at the end of the year and are included in creditors. Ik) Going concern The financial stalements have been prepared on a going concem basis as the Tnjstees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expendilure for 12 months from aulhorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concem. Income from charitable activities 2024 2023 Gross fee income BUaries provtded School trips. In-class support, buses etc 3,382.682 {48,182} 416,477 2,772,647 146.7991 462.129 3,750,977 3.187,977 Donations Unrestricted Designated funds funds Restricted Total funds funds 2024 Total funds 2023 Donations 4,945 3.925 134,477 143,347 93,166 4,945 3,925 134,477 143.347 93,166 13
The Unicom Trust Notes fomiing part of the financial statements for the year ended 31st August 2024 continued Grants recelvable Included within grants receivable are other govemment and local authority grants totalling £Nil 12023= £7,084). Income from investments 2024 2023 Interest received 26,359 12,852 26,359 12,852 Expenditure on ch aritable activities Total 2024 Total 2023 Unrestricted Restricted Teaching and leaching support costs linclud ing pensions) Other staff costs Teaching equipment and other pupil expense5 Support costs {note 7) School trips and clubs Uniforns 2.747,625 15,606 2,747, 625 15,606 2,274.540 17,955 67,346 611.877 55,984 656 67,346 616,178 55,984 656 53,821 553,539 97,312 873 4,301 3.499.094 4,301 3,503,395 2,998,040 Staff costs 2024 2023 Gross wages Employerfs national insurance Supply and other teaching 8ssislance Pension contributDns Recruitment costs 2,214,818 220.642 104.089 183,540 24,536 1,883,531 166,452 68,913 154,333 1,311 2,747,625 2,274,540 Average number of f ull-time equivalent persons employed.. 2024 2023 Teaching Administration 41 10 58 51 Number of employees eaming wthin the following bands.. 2024 2023 £60,001- £70,000 £70,001- £80,000 £80,001 - £90,000 £90,001- £100,000 The Unicorn Trust 14
Notes forming part of the financial statements for the year ended 31st August 2024 continued Support costs 2024 2023 Rent and rates Utilities and insurance Repairs and maintenance PrOMotn and advertising Legal and prof essional Computer, stationery and office tx)sts Depreciation and amortisalion Bad debts Other Interest Govemance costs (see note 8) 136,260 94,511 75,961 25,493 30,230 135,456 78,132 130,075 93,145 48,786 17,055 13,249 113,089 99,007 28,702 1,631 20,041 10,534 9,560 8,800 616,178 553,539 Governance costs 2024 2023 Aud it fee 9,560 8,800 9,560 8,800 Expenditure on raising funds 2024 2023 Fundraising Costs 3,522 7,923 3,522 7.923 10 Trustees, and key management personnel remuneration and expenses No Trustee was reimbursed for incident81 expenditure incurred in the period (2023.. Nill. The total amount of remuneration to key management personnel incurred in the year was £214,210 (2023.. £190.1201. Key management personnel as defined by the Trustees are.. the Tnjstees. Bursar, Head Teacher and Assistant Head Teacher. 15
The Unicorn Trust Notes forming part of the financial statements for the year ended 31st August 2024 continued 11 Intsngible fixed assets Website Total Cost Al 1st September 2023 36,732 36,732 36,732 At 31st August 2024 Amortisation At 1 st September 2023 Charge 36,732 9,031 7,346 9,031 7,346 At 31st August 2024 Net book value At 31st August 2024 At 31sl August 2023 16,377 16,377 20.355 20,355 27,701 27,701 12 Tangible fixed assets Freehold land & buildings Leasehold land & buildings Fixtures, fittings & equipment Total Cost At 1st September 2023 Additions Disposals 813,948 2,543.924 (116,883) 62,349 2,372, 300 381,580 89,947 370,019 81,677 {116,883) At 31st August 2024 2,434,649 471,527 334,813 3,240,989 Depreciation At 1S1 September 2023 Charge Charge on disposals At 31st August 2024 158,154 37,477 248,786 33,309 (116,883) 406,940 70.786 {116,883) 360.843 195,631 165,212 Net book value At 31st August 2024 At 31st August 2023 2,434.649 275,896 169,601 2,880,146 62,349 223,426 121,233 407,008 16
The Unicorn TNst Notes forming part of the financial statsments for the year ended 31st August 2024 continued 13 Debtors 2024 2023 Trade debtors Prepayments 1,340, 119 90,417 803,946 75,929 1,430,536 879,875 14 Creditors.. amounts falling due within one year 2024 2023 Trade cred itors Taxation and social security Other creditors Accruals and defetTed income 170,686 80,255 64,350 1,390, 834 54,961 65,176 71,877 1,191,991 1,706,125 1,384,005 Def eed income totals £1,292,833 (2023: £1,094,849) in respect of f ees billed in advance for the Autumn lem. 15 Creditors: amounts falling due after one year 2024 2023 Secured bank loan 1,653, 750 1,653,750 The loan is secured against the Charity's assets, including Land and Buildings. The Inte$1 rale is 2.25 % over the Base Rate. The loan is interest only for 24 months, at thich point capital repayments will start. The loan is repayable over 20 years f rom the issue. 17
The Unicorn Trust Notes forming part of the financial statements for the year ended 31st August 2024 continued 16 Statement of funds - current year At 1st September 2023 At 31st August 2024 Income Expenditu re Transfers Total unrestrlcted funds 1,220,684 3,782,281 13,502,616) 1.500,34Q Total designated funds The Unicom Trust expansion fund 3,925 3,925 Restricted funds: Christmas carol concert 39,097 Donation for cabins 14,268 Donation forf ronl lawn benches 784 The Unicom Trust expansion fund 100,117 39,097 9,967 784 234,594 14,3011 134,477 Total restricted funds 154,266 134,477 14,3011 284,442 Totsl funds 1,374.950 3,920,683 13,506.9171 1,788,716 Statement of funds prior year At 1st September 2022 At 31st August 2023 Income Expenditure Transfers Total unrestricted funds 999,247 3,220.283 {2,998,846} 1,220.684 Restricted funds: Christma5 carol concert Donation for cabins Donation forf ront lawn benches Donation for library & art room The Unicom Trust expansion fund 44,028 {4,931) {1,540) (264) (382) 39,097 14,268 784 15,808 1,048 382 63,349 36,768 100,117 Total restricted funds 80,587 80,796 17.1171 154,266 Total funds 1,079, 834 3,301,079 13,005,963) 1.374.950 The Unicom Expansion Fund is made up of donations where donors have specified the donation is to be spent on projects relating to expanding The Unicom Trust. The current project is the new location purchased during the year. The donations currently sat in the f und will be spent d uring 2024125 and will be transf erred against the expenditure in that year. 18
The Unicorn Trust Notes forming part of tho financial statements for the year ended 31st August 2024 continued 17 Analysis of net assets between funds Unrestri cted funds Designated funds Restricted funds Total funds Fund balances at 31st August 2024 are represented by: Fixed assets Current assets Current liabilities Non<urrenl liabilities 2,889,750 1,981,874 {1,717,5251 {1,653,7501 10,751 273,691 2,900,501 2,259,490 (1,717,525) 11,653,750) 3,925 Net assets 1,500,349 3,925 284,442 1,788,716 Unrestrided funds Deslgnated funds Restricted funds Total funds Fund balances at 31$t August 2023 are represented by: Fixed assets Current assets Current liabilities Non-current liabilities 421,512 2,183,177 {1.384,0051 13,197 141,069 434,709 2,324,246 11,384.005) Net assets 1,220,684 154.266 1,374,950 18 Financial commitments At 31st August 2024 the Charity had lotal future minimum lease payments under non-cancellable operating leases as f ollows:_ Land and buildings 2024 2023 Not later than one year Laler than one and not later than f ive years Later than f ive years 133,684 233,324 119,448 308,574 367,008 428,022 19 Capital commitments At 31st August 2024 the Charity had total capital commitments of £2,105,221 (2023= £nil). 19
The Unicorn Trust Notes formlng part of the financial statements for the year ended 31st August 2024 continued 19 Reconciliation of net movement in funds to net cash flow from oporating activities: 2024 2023 Nel movement in funds Add back depreciation and amorttsation charge Deduct InteSt income shown in investing actThiities Loss on disposal of tangible f ixed assets (I ncreasel in debtors Increase in cred itors 413,766 78,132 126,3591 295,116 99,006 (12,852) {550,661) 333,520 270,716 157,500 Net cash f bw f rom operating activities 248,398 809.486 20