Charfty Registratlon No. 1076484 Company Registralion No. 37799761England and Wales) BLOXHAM SCHOOL UMITED DIRECTORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 11 111 •ACIUQACH' 21112tt023 fA)MPANIES HOUSE A27 #253 BLOXHAM SCHOOL LIMITED CONTEKrs Page Comp•ny inirntion Directors". We[￿. irworatry the strats￿c r Independent Auditorf$ ￿P)rt 18 Fln8n¢o1 $lat¢ments BLOXHAM SCHOOL LIMITED COMPANY INFORMATION Qirector5 E L Lthi>Jtyw (Co Char} S T W(x)d (Co Ch￿) L Anelay P Qayson E Coles-Kemp H Harper (reSig￿d 22 June 2023) C Maunlosh R Markwell lappjirrted 12 Oclober 20231 A (re5vJned 22 June 20231 J Renison (appointed 23 Novernber 2023} S Richards CAShaw G Stapleton (appointed 23 November 20rJi R Ward lrnsignad 31 August 2023) C E J Liiye (resigned 31 January 2023) PW SarMJerson {aPpI￿nted 1 February 2023. resigned 22 June 2023) D Ramm (appointed 22 J￿e 2023) 1076484 Secretary Charty number Company numbe¢ Prin¢ipal address rng15ter•d oflk¢ 03779976 Bloxham Sthool Banbury Road Blo¥harn OX15 4PE K•y Managèment Personnel Head P W Sanders( Bursar C E J Lilue {resi9ned 31 January 2023> D Ramm (¥prA￿n*ed 1 FeEffLWry 2023) M Bucktar¥J M Bull M Prico Ires*Jned 31 August 2023) L Ladds (ap￿inted 1 September 2023) RSM UK Audit LLP The Pinnade 170 Mhlsurnff*r Boufevard Milton K•ynes MK9 1BP Deputy Heads Audltor Bankers Bardays 8snk PLC London SVV1A 1HE Solicltors Biethertons Soli(xtor5 19 s￿ Bar Stroot Banbury OX16 9AF InsuraneÈ Iwoker5 Marsh Capital House 110 5 Perrymourrt Road Haywards Heath Wesl Su55e¥ RH16 3SY BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT (Incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2023 The Diredors present Ih¢ir r¢ptyt 8rKI fin￿¢¢1 statements for the year ended 31 August 2023 for Bloxhgm Schac4 ￿MIle￿ I'lhe Cornparf) aTrJ confim Ihat they ¢J)mpty the fequiremenls of the Charities A¢t 2011, incI￿￿1ng the Directors. and strateg￿ Rèports. undèr tho Companios Act 2CQ6. The Company OFwates 85 a eA>edutsts"onal boarfing day sdvJol for pupiLs from the ages of 1110 181.lhe Schoof or"Bloxharn Schod"). REFERENCE AND ADMINISTRA TIVE INFORMA TION Bloxham sch￿ Lirni¢ed ￿a$ lomied on 28 May 1999 arml is a Iwnited lability ¢orrwny aThJ wholly owned subsKliary of The W¢x￿ard Cwration (Charlty nUM￿r 10962701. The Company is incorporated in the United KingdcKn. The C(Mnpary is also registered T*th the Charity CAJmmissh)n with Charity number 1076484. The Company has one wholty own¥d subsÈdiary. Bloxham Enterprise5 Limited. Bloxham School ￿'brary Seryices Limitèd was a ￿t￿llY owned sub*diary bLrtwas diSso￿¢d on 291h Augusl 2023. In this report and finawal statemen15 Bkjyham School and ils subsidHry are referred lo as Group.. Directors of the Company are also Fellows (members) of The Woc#Jard Corporation and partryate . the election of its boa￿ of managernent end are ¢omrnitted to its clwilable r*jects. Note 32 providgs detalls of the uttTrrrAte ¢ontrollwvJ party. STRUCTURE, GOVERNANCEAND MANAGEAIENT Goveming document The Compary is govemed by Articles of A5$0cialicm as 8dopted by SFecial ResolithJn dated 20 MarGh 2013. replacing those dated 23 Jur* 2009. The Artides of Assoiation permit lunds to b• managed in Such a manner as the Direetors see fit. provKJed that suth powers are only exercised for the purposes of attaining the objects of the c￿PanY and in a marwet wh¢h is begally charitable. Tho Article5 of A550riation I(￿d the distribub"w of any prLTJety u funts. which are lo be appb'ed solely towards the promob'cn ofth¢ objects of ihe Cr￿panY. Goveming Body The Directors are aLso'. Govemors of the Schod: chaiilat4e Intstee$ ofthe COMp￿y', and comprise the goveming body of Ihe Sch¢x4 Itemied ￿ CouncAI"l. The DireLtOT5 de¢t¢d to hold office for five years. The School 55 govemed by Ihe Counol whkh opernles using several commthee5. MembErship ofeach committee is outrined on page 16. The Council meets a minimum ofsix times durwythe financial and academic yew. Recrultmeftt and tralnlng •1 Gov•mo JI Governors we Felow5 ofThe Woodard co￿(￿8b0n. Fellovts are responsi￿e ltr ele¢ts"ng the boBrd of The Woodard Corporation. Govemots are re(Yuited based on rKiminaticns from the S¢hool's contacts and through a sele¢tion pnxess when a post becomes available. Thè Counul kjok lo ensure a mix of skills and select new govemors based on bathground. ¢ompetenee, spectalist skills and C￿ri￿lan commitmenl. Governors are prowded with inducfion training by tr*e Head, Bursar and staff and a wider pro3ramme of trairiTrJ events 15 organised ty The corp￿3{10n. Where posslble the Govunors consKler that the skills arKI expwience of the Cs)Lncll should (*m the foMoMng'. A Govwnorwrth • W background. A Govemorwih a fir)an¢l¥Va¢t￿ftlng b8¢kgrTh￿. A Governor ￿ exwience of equal rworiunibes or disab￿rtY needs.. and At least one femJe Govemcff gr￿ at m* G￿le1Th￿. One Governor may have one or m¢)re ol these ￿115. BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT (incorporating the Strateglc Report) YEAR ENDED 31ST AUGUST 2023 Volunleers The Dir&tors are ¥￿￿1¢?1$ protdding thelr time for free to SUFg0rt the 9oveman¢e of the Company and the School. The Scknl also relies ry) several other5 to undwtake volunteer roles. The CC￿nG would11(e to tha1￿ th8 volurrteers lor their he￿ and assistance during the year. Oryanlsatlonal management The Councli determines the general sbategy and poky ofthe Compary. The day-to-day management ofthe School is delegated to the Head. Deputy Heads and the Butsar. oVerse￿n9 educalional, pastoral and admlnlslralNe ￿￿tiOnS in cortsurtaiK)n with the seniN staff. The day.tTrday adminislralion Is vndertaken within the F¥Aic4es and wctedures appfoved by the DirertrA5 which providè for only significant expendilure decisions and maiN capital projects to be rcferred to the Directors for Prior approval. Th8 Head Overse￿ the reuuitrn¢nt of afi staff. delegating where approF*iate lo thg Senior Leadership Team. The H8ad Bursar art Invited to attend D[recI￿$. meetirwJs. The Councl m88ts a minin￿rn of six times annualy. with the aim of meetirKJ ￿1¢¥ per term. The Counal's structure F￿VIde5 over5igMof the key areas of lh8 &#KY)I's a¢Wty. The committees N)rmaly meet at least lemily in advan¢¢ oflhe nEetsng. with the rneetirvJ rninules Includ￿ n the Council pap8r$. Thè tttmmittee ¢h•rrnen fyF¢rt to the Couwl. Thg committee5 are: The Finance and General Purposes fF&GW) Committee.. oversees ffin8ncBI managemenl and physic* development of the sc1x￿1 and •ddr&sses 8urfi( risk mar￿geMent, health #nd safety and remuneration- The EdLrcalion. Boarding aTrY Pastor* Cornrnrttee: has o¥er5i9ht of academic perfornanr and educational provisron of the School and Th￿nitorS the ¢8re of puplls and the provision of pastoral facllilles., and The Communications & Develcyrnent Corrffiittee: consider5 ways of m*keting the SchTh)l and I￿￿raIS￿l9 Strategie$ and •thYisston strategy. The iemuneralion of Key Management Personnel is set by the Counol. with thg poty otq'ective of: Pro￿dIng appropiiate Ir¢¢entNes to encourage enhanced Perf(￿ance. and ot rnvrdrding falrly aThd responsibly for individual contributions lo the Sch(K)J's success. TheapPro￿atenessaThl reknnce ofthe renwrter*th wky Ls revi￿d annuany. kncludtro reterence to cornparisons wilh other independent sthjots to ensure that the Sch(￿ remans sen￿live lo the broader issues of pay and ernployment coThlitions ef$evthe￿. The School ains to recruit. subject to experience. al the fowerto medium pinl wilF¥n a baThl. pn)Yid* s¢ope for rewarding ex¢elknce. Debvery of the Ctsmpanls charitable vision and purpose is primarily dependent on Key Managgmenl Personnel and staff costs are the lar9eSt slngle elwnent d charita￿? expendiiure. Group structure and r•lationshlps Bk*xham Sthool Limited has one wh¢* owned non-tharktablè sthidiary. Bbxham Ente￿ISeS Limiled hires oulthe School'$ sp¢)rts faGilib"es. cAJtof school hours. during term time and the Set￿l's full faciKties for residential and non-residenti￿ cour5e5 during sthoof holklays. Bloxham School Library SeNces Llmited was a wholty ovmed s(ts￿lary bui vrd$ dissolved on 29th August 2023. Theschool has develoFed links Y•Rh 8 wde ran9eofcrfgwisatsrns loen5urethe w¢de51 p0s￿ble acce5$ to ourfacilitiesand Sch￿1￿9. Through membershipolHeadmaslers' ar￿ Headmistres￿. Conference rHMC'> and through neh¥ofking with peer groups, we en3ure thal we Can attain the highest standards of qualty and porforman￿. We encwrage (￿r PLtpils to develop an awareness ofthe s(xial ￿ntext of the all-round education they r￿1Ve atth8 School and they ao engaged in sèveial activiéies lo enharr their understanrlin9. We have a tfviviNJ alumni group. the Old Bloxhamists, th are generous In sUp￿r￿"ng the woth of the School and whose support V•È grnatty apprecwte. We ccoperate with many local charfb'8s In our ongoir*J endeawwrs to widen acce5S to the sc*mling we Can provide. to optimise the edu¢atv)nal use of our cuhural and sporting facilities ar￿ to awaken in our pupib. th• public inte￿st, an awareness of the social (xintext of the all-round edu¢atKin receive. BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT (incorporaling the Strategic Report) YEAR ENDED 31ST AUGUST 2023 CHARITABLE OBJECTS, AIMS, OBJECTIVESANDACTIVITES Charftablè ¢JWects The COm￿Y'S otiects, as set li lh¢ AJ1i¢l&s ofAssooaIA￿, arg to and gxtgnd wjucation {in¢luding spirilual. moral. sc¥ial. ojltural and physical gjucation) in accordance with I1￿ do¢bines and princaples of Ihe Church. The ChurE* is defined as beng the Church ol England and chlsrches in full comMun￿n with the See of Cantèthry. Intended irnpact Schc¥)Js wilth The Woodard co￿lOn strive for the test all round ¢du¢ati¢￿ of every Bspect ol everyone: they ensure high standards of religkius educat1￿.. and kn se6 themselv¢s a$ communitles workirg togelher for the benefit of all member5. and of Ihe Church and the rAtion. Th8 schcds are strong Christian foundations which adhere lootholic beliefas fovnd in the cl￿rCh. lo Christian wor8hip foojsed in Ihe Euthari5L and to Ihe care of each individual and the whole school ￿Mm￿nty parlicularised in the mintsty of the cha￿aIn. Alms Bloxham Schcd B a o>gdu¢alional bothing and day Sthool for pupils from the ages of 11 to 18. Tha School aims to support chrfdren in reaching their potenlial in au areas of their admty at the School, and In the wder cornmunity. Thts may be in academic Sthji￿ts lyjt could just as ea&ly be iefiected in Suc￿sS In ¥rL drama, spryt. musc or dan￿. Wg Produ￿ %veJl roundgd" indiyhduals who can makg a Positive contribulion to scciety. All the schools in The Woodard Cwration aim to provwje a rounded edLKation to hdp the pupli s to rnake their way in adurt life. Primary objectlves The primary objectN•S ol Bbxham to fu￿ th8se alms ar8". to pmvide a Stirn￿ating leamkng environm￿ in which pupds can de*lop Ihetr academlc potentlal to thè full., lo provide a happy and secure past(￿al enviror)ment in ¥thich wiL8 can ￿•M lo he tO9eth¢r and thus foster a sense of community. respect for one another and good ¢itoenship,' to provide pupil5 wilh the owortunity to take advanlage of 3 tseadkn of co4wrKular acttriitses ordei lo deveknp positively all aspects of Ihew character,. to piovide pu￿1$ the opportunity to take decispJns based (m tr*r NKlgment and to o)mfflunute those dec￿￿n$ appropriately and ellectivety.. to provide financial supp(xt to enable children ￿ose parents are unatrAe to afford the full fees to benefit from an education at Bloxham School." to prowde a dear, swnple arKJ effectNe manageryEnl struciwe capable of taking timely deci5KJns and allocating rwessary resoLrces appwialdy.. to provtde the neeess•ry ¥dmintstr¥tive •)d109isti¢ framewLvk lo mget Ihe needs of mernbers olstsff an<1 wpils 81ike,' and %) enable a trAoad base ofenty into the SdKd. Activitles to aehlev• thè prlm•ry obJeetiw$ These itljde: Provlde a stlmulatlng ¢n¥lronment lor leamlng In¢lud¢: To raise academic attal￿ent and *alue adde￿ suKe5 itsoLvJh excellent lea¢hing to improve pupils leaming. To develop kning skilL8 help pupiLs discover a pa55ion for intsllectual pursuf( It￿Ugh wo114aught lessons and enrithment activities. The White L￿n Sixth Form Cenlre provides a de(IKated and stimulating environmenl for our older pupils to prepare for their A-leveb. Rooms dedrAted for group and indivdual stydy have been provided with the White L￿n Cafe acCessi￿e for ref￿Shrnents. The reb¢alÈon oftha Stxth FO￿ Centre supports Independent kamlng and has Ihe modem facUrW to ensure our wplls are yven the best opportunity. Wth the number of SÉxth Fomier5 irKrea5ing in the sch￿1. the Sch￿1 added an 8ddits.onal 5bJdy to the knilding. BLOXHAM SCHOOL LIMITED DIRECTORS, REPORT (incorporntlng the Strategic Reporf) YEAR ENDED 31ST AUGUST 2023 The day house continues to thri￿ n its ne* l(K*ion dow lo the maNI s¢Mol and ensures that pupifs can use dedtcated workspace mc*e effecbvdy and re￿ce Iheir travel time between ¢lasse$. The new developnKnt al st￿9￿￿1 wovided add￿Onal beds for female bjardillg slvjents arKI $IIow5 US to ensure that all boarders have their own space wen whilst day boarding. Incrpased prowsp?n al Sixth Fonn ¢>j￿icUlar level lo irYJude relom)ed A levels and BTEC I CTEC qUasfKat￿Jns. The witrodu(*on ofihe Positive PSyc￿Yal0rbgSde EPQ5. the mini MBA the Bloxham Independence Projec* and enlithmenl opportunities to prepare pupi15 more fully for the Work￿aC8. An enha￿ed seNice projramme for Stxlh Form sttmjen The grovAh ofthe bToadercurrKulum prc•3rnmme. In ptirtictharthe 3rd Form oUtth￿r EducatK>n ogramn* has been d8¥eloped fiJther. Provlde a happy and s•cur• paslofal •nvlronment to foster community Tespe¢t and living In¢lude: To conlinue lo improve the level of pastor81 Ca￿ in tyder Io SUPF#Ni our pupiLs. staff. and parents. where all are respected and vafued. To encourage pupils to explore their core values through sptritU81ity. ar￿ a Christian •t￿S to devétop a swse d rnorality. To culture ervJag¥ heathy nfestyles and rdatthhlps. To forge greater Ilnks with the Bk)xham and wider commLnty in aN its Torms. Cre8bon an¢J developn7ent of a pastoral w￿lfare hub, irKauding wholo insl"tu140n approaches lo pupil welfare. dvJital safety and mentsl wellthng. The enhancement of the C￿Munity servrE5 Fyoject W0￿1r￿a with muHiple extemal a9enci¢$ rdTrJing from volunteering Banbury Foodbank. to provMgiThJ Math5 and Modem Foreign Lan9uagÈ leaming kn k)cal prim8ry Sthool ¢hldren. In(¥ease of cornmunty partsi¢r$hi￿ and outreach everts lo hxal primary s¢lK>o15 to indude ScEnce wcrfksh)ps, and Creativè Wrrtuig 8￿ftts. as wdl as Sport. Provkle puplls with opportunitie$ lo take advantsg• ol lh• cout Iher roles lo Ihe hNJhest starthrds. Provido adrnlnlstratlv¢ l¢* m••t th• noeds ol all slaknholdevs InGlud•: To to develop awareness of the Nyham" brand lh￿gh strategic markeling lo BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT {Inco￿ting the Strategic Report) YEAR ENDED 31ST AUGUST 2023 in¢rease recruitment of pupils. at all entry pjwts. who wsu mako Ihg most of an educatic￿ at Bloxham Sthoc To engagè the ￿0%haml$ts lthmni, p•st wènts and former staff) thfwJh 8 proyamme ofcommunicatKJns and events to drNe er￿eMent, adV￿3¢Y and SLtpport. To grow and devdop a list of masor 5UPWters (¢knor. legators arKI olhers} wh) Can providè significant support. parficularty through major gifts and legaw to provid8 tho most efficAent way of generaknng funds ftr tAJrs3fies and c8Prtal build proje¢ts. To invest in. devekp. and emp(Mw staff to cary out theif rcles to the higlEst standards. ReV￿W of the Bursarial team to Fffovide greatersLWOrt for the finawal and ￿te$ tea￿￿ as well as all staff member5. Enablg a broad base ol entry Snto the Sthool In¢lud¢: The day house. with a lowef f88 lariff. albxs greatef accessibifity for PLpils %¥l)o Iv8 Wtthln Ihg locality. Thi5 ts as%JCtated with $bwthGan* bursaiies the local community. Two nights included wlhw) the day t4)arding fee supports the boarding ethos of the Schooj and ensures the houses a￿ thrivin9 during the term. This btsarthng tsriff is available throughout the school from First to Uppw Srxth Form. A small numbef of inlemational pupils are recruited from around the worfd. Inlematkjnal pupils are fully integrated inlo our pastoral system along5rde British students in our boarding houses to axl leamtng about L4her alun1r￿ and rAAbJre5 arKI *) c*lebrale dNersty. Princlpal a¢ti¥iti8s during the year The principal aetiwty of the School is as 8 ctreducational boarduiy and day schcd for pupils from ihe ages of 11 to 18. The also rvns several summer S￿￿0[ acttvitjes and is open at other tim8s for use by the I￿al community. Pupil nuthr5 on the SclKJol roll at September as fdlows: 2022r23 2021122 Boarder Day Boarder Day Pupil Total 119 124 147 550 122 530 Ofwthich 327 223 314 216 Gwls Public benefit Within its objects, the s¢k￿l aims to ueate an envirr￿ment to Nrture chilthen. to get Ihe best from them 8nd lo all¢w them to devdop and fulfil Ihair potèntial. We pwwde thern with a first-das$ irKlependenteduca1￿n and a *ide ￿nge ofsporknng and artistic opportuntbes. One ol our public benefit aims Is that all pupli s be seif-conment ar￿ desire to contribule to Ihe wtder o)rnmunity. In the furtherance of these ￿ffts. the DiredoTS. as the charity tru51ees. have ¢ompled with the duty in .17 of the Charilies A¢¢ 201110 have due regard to the Charity commiss*￿.$ published general and relevant Sub￿ecI￿r guidance concerning the operatioft ofthe Publ￿ )enefft requirement thjerlhat A¢t. Our Schod w01ry￿e$ PLylls frryn all backgrourth. To a prospedive pupil, weneed to be sat15fied that our School will be &)le to educate arKI devekjp them to the best of their Wenti81 and in line wrth the general ¥tAnd¥d$ achieved by their peers. Entrance inteNew3 and 855e5smenl$ are undertaken lo salsfy and parents Ihat potential puplLs Can cope with the pace of learnlng and benefit from the educatron we Provide. An indivKluafs economr ststus. g¥ndÈr. ethni¢ity. race. rel*won or disabllity do not fom part ol our assessment pIC￿Ses. Our School is a part ol 4 7hider (K¥nmuiMty and are keen that tyJr slaff and wp4s participate. Our S¢hoal also offers a res¢4tr¢e to SLrotr1 a I￿ge ¢f edu¢ational actm￿S forthe benefft of lo¢￿ ehildren attending state $chcKJls arKI Ihekteachers. Ojr Dlrector5 are comnmtted to devekjping ¢yJr prcsramme BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT {incorpordting the Strategk Report) YEAR ENDED 31STAUGUST 2023 of cooperation and joint thiThJ vth lo¢al maintained sector iunKf and 5ecoTrJary sthooLs. The Activities undertaken and the SLrcess ofour Fryramme are etyined in the"Revwofxhwements and perfofmanco for Iho yearf" on page 8. The W¢)odard cOrpc￿tion and rts s¢lthls w)wde a signfficart benefftto the public. The School strives to ensure that measures cl pubfK benefit are appropriate. and Ihal 5vJnffunt sections ofthe pUb￿C ore not exdu¢J8d Irom the oppxiunty kn benefit from the ¢dU¢all￿ and fathties offered due to the need to pay a fee. In addition to signif￿ant kYOVtsion of bursaries and other fomis of finanaal $uppc*1. the School pmw(Jes a Mde range of opportunrties for ¢ommunty bènèfit facilities and events are often open lo all. Further detsil of the public benefft o1[￿ed Is inGluded in the SeC￿n enliwed 'Review of athigvernenls and performance year on page 8. tt 15 a key requirement of ewderrArrfJ public bpnefitthat any private benefft lo inthiduals OT elements of the charity TMII be in¢hlental lo the Charitys objectives. An example of private benefit may be the reimburs$m&nl ot travelliro ex￿Se$ for [Irecto￿ attgndry tralning ccwses. Any private benefit to Indi¥iduaLs orel¢m¢nls ofThe WoctyJar¢l Corwatiw is iTr*ntal to de&very of Ihe tharitabb obie¢lNes. Conces5i¢)ns Includlng bursarles and scholarships All critoria and polides relating to con¢esslons are kept uThler review and are updated when ne¢essary. 8ursarles The DIrectO￿ 7lew ¢)ur bursary awards as IinF#Nlanl in helptry to ensure chllthen from famllles would atheAv6e not be able lo affc*d the fees can a(trss Ihe 6thjcab.on we crffer. Our bursary awards are available to all who meet our genwal ¢nty requiren*nts and are made SO￿lY on the basis ol parental means or to relieve h8rr15hip where a pupifs educalion ond fU￿re prospects would otherwise be at risk. for exarnp￿ n Ihe case of re(￿[KraA¢Y. In assèssing m8ar6 we use the methodobJy promulgated by the Indewndent Schc¥)Is' Bursars Association. whKh take5 a number of fa¢tors into conslderation including famfy ncome, investments an¢ savfings and famdy arcumstances for example dependanl relatives and the number of sibJin9s. The School doe5 not have a ￿￿n￿¢ant endoAment and in funding our awards we have to be Ihat we JY¥Jst ensure a balance betsveen fee*aying parents. many of whom make o)nsiderable personals￿rifiCe$lofvnd theirchild's edUcatiC￿. and those bonefiling from th* avtards. The Eggrton Society Endowment Fund was eslablished in 2011. aimed at enr￿uragi￿j those with c1058 links lo Ihe Sclth to commit a 18gacy in their wlls to Schoc4. The objèthve was to raise a capital sum to provKle $vstainable funding fcY an addtlional thirty bursaries at an aJTh)unl equal to haw the relevant fee. To date the cumulalive of711 15 £244,964 (2021r22.. £244,964). The value of means tested bursaries awwd¢d in the ffinancid year totalled £876.400 {2021122.' £923.4541 and rewesented 5.7% ofgross fees12021122: 6.4%). these means tested bursarfes provided assistsnce to 111 pupls (2020r21.. 120 PL￿$). The SchcYJl 15 helped each year by the supwt of the Ra￿T￿d TwsL which provided £118.823 12021122.. £105.8￿) in granls for seven pupts12020r21: six pupi151. TI￿se grants are rNJt induded in the bursaries m8ntioned above or accounted for n"Ihe financkql Ststements as the fvndvig obtained dkecty. Schglarships The purpose of our s¢hotarsh4) awards is to recognlse high acadèmlc potentSal or the abillty lo excel in our ¢￿Urr￿Ul¥r activiiies. Our schokrship5 are awarded on the bays of the IndNidual's academk pot8nbal or e￿ljenCe ol e￿eptional a￿lit￿ vthi¢h wll contribute to cNJr cO¥Curr￿[al actNit￿S. In addition, awards May b¢ sutsject to c(Midhtions imposed by Ihe orvJin* don￿. Scholarships arg 8w¥rded wlh a fi¥ed reNs$ion of fees of bets%w) 5% and 20%. wh&￿ fvrlher assistarKe 15 requlred. scho]arsh4) awards may be supplemented by a means tested bursary. We promote Ihe avalability of scholarship awaftts throughoul the ye¥ on our website www.bloxhamschool.eom •1 Open Days and on wospedbve visits to the Sthool. In the financkql year. the School •w4rd*d sclw1arshl￿ to 166 pupls (2021r22.. 165 wpHs), based on BLOXHAM SCHOOL LIMITED DIRECTORS, REPORT (incorpornting the Strategic Report) YEAR ENDED 31ST AUGUST 2023 their educAlian81 rnerit and F(JtenlMI, totalling £470.12512021r22'. £474298) aNI representing 3.1% of gross feès12021r22.' 3.3%). The pmgress of pupils receI￿n9 5chJlar5hips 15 re￿eWed at leastannually lo ensure their progress ts in line thèir abiltbes. No sthrAarships were withdrawn in year as a r¢suM of ￿¥laW8. Sibling andArnRdFo￿s remiSsi¢￿S To underfine the Y￿u• ￿ place on continwtyfor famil ies, we offer discounts vhjere parents have ffK)re Ihan one ¢￿Irt at the School. We also ccffisider awrdrding fee remissions to Armed Forces families for those nol n receipt of Conb"nuity of EdU¢8th￿ Albw8rKo. As supp¢rt Ity our Christian ethos. mèmb&r8 of the dtryy are also considered fuf fee remiss￿. Boardlnq flexiblllty As part of our commrtment to IK)ar(Img we strongly a¢1Vc￿le tlexlbllty. The openlng of the Day House in September 2017 added a lurlher ber lo our offer of full aThJ fiexible boarding. The Day House 15 extrernely popular. housing apprc¥xrm*ety 66 pupib from September 2023. The Day House enabl¢s fijrthef fl￿￿[￿ty lor parenls vthen the Opti￿ that suits bolh theirs. ￿ their ch5kJ's needs. S¢aff aS￿stanc• As part ol ouremphays on attracb'ng huh calibre staff to eio)tham. we offer a discount scheme ￿ staff rnembttrs who choose to educate thew ¢hddren al Bbxham SCI￿01. Reviewof¢on¢esslons The School Includes detsils ol the v¥rw5 ¢Crte$5ion5 fft the prospe¢iuses and on the ￿*b$it*. Al parents mak]'ng enquiries about possble entryare prowded with a descriplion ofthecriteria forbur5aries and schok8rships. In most cases the budget t￿￿saries is allocated using a"means tested. approach a$ far as possitrAe. whilst grvÈng priority to the ¢onlinuty of education of those pupÉls alroady at thè Sthool. Al uileria and pol￿1eS relating to conceS5KX￿ are kept under and are uFrfJated Ythèn necessary. Employment policy We are an equal tjpportunty organisation and are Committed to aworkitvJ environment that is free from any forn of disc(iminalion M the grovnds of rolour, ra¢e, ethnt(ity. relKJion, sex, sexual ori&ntstion or disabilSty. Wewlj make reasonable adjustments tomeetthe needs of staff or PUFi15vtho we or become (fIsabl￿. STRA TEGIC REPORT REVIEW OF ACHIEVEME1￿5 AND PERFORMANCE FOR THE YEAR Academle r¢sults (>eral( in spite of the national treThl for a redUc1K￿ in top grades. Bloxham sbjdents scJNed higNy in post-16 quallfKa￿Ons wth the substanlive number of grades n the A'_B rarNJe. Many Subject ar?as exceNed ar￿ several departrnents achieved 100% A.￿ grndes (X the St￿￿ents Ihal look BTECS in Sport, 8usness cf Foc*1 and Hospitality. the vast majority w¢B gt*d at Dk%ttnctionlDistinction' {equivalent to A"IA at A level). The majority of sludents chose to go onto Russell group unive{s￿e$ in subjects as diverse a5 Natural Sdences. Hisw and PLth"cs. Theatre and Law. At GCSE. Value Added perf0M￿nCe remains very Imgh wth slu(lents on average addfftg alm051 haW a GCSE grade per subject. Overall grade5 7-9 are doU￿e the nationd average and F￿orman¢e of the tq) end students ￿mainS hi9h. 95% of an grades b*ng at grades 94. the resuts refiect the continued a(zdemic success of the Scho)l. Improving facljities Bbjxham Schod has ¢ontnJed to invest n Ihe facllibes c¥) site to impriwe the experience for all stskeholders aThJ to a¢commc•aale Ihe growth in pupil numbers. The Ston¢hill txtsnsh)n ￿le¢1 was completed in January 2023. We have recenty¢￿pleted the extemal wuk5 toform a staff and resthnl BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT (Incorporatlng the Strateglc Report) YEAR ENDED 31ST AUGUST 2023 car pathing facifity. Throughoth the year w• have inwsl•d Into the existin9 boarding houses..The *￿rkS invdved have provKled iryroved facilities and addilional bgjroom spaces. In order ro inprove our energy eff￿￿ney. we have installed sevefal new boilers to b¢)th residential a￿1 boarding ￿U$8 accommodation. Wilbsrtorce and Raymond have both had new heatng systems Thtslled. As part of on-going Nnwovoments to the xhod's sports fac￿lI￿S we have re￿ated th• t•nni$ Courts I netballs ¢OUrt5 at Dewey. The corKlition of T*hith had been raiseTJ at ts H&S cl￿millee on several owastons. We have replaced the whdows to the MFL dassroom5. thts vAll Improve the eff￿￿nCY of thE building whilst promding an improve environmenl for ￿arning. Further improvement and investment have been made into the scfthl's residential proFwbes T￿ ￿placement kitcherts. bathroom suites and heatiThJ Syslems. Arts. Music and Drama The Creatwe Arts prowded a vast array of OpP￿tunitses for sludents in 2022-23. In which St￿1￿nts s1￿caSed their irTyessi¥e ta￿nI and passion for the arts in a wde range of contexts. 11 was anollw fantsstKally busy and successful year fcrf the Art deparlment. the subject ￿IdgeS gaps befv￿en so many dtseiplines allows pupiL8 to explore and express their personal thoughts. opintons interp￿tationS. The Summer Ethbib"on celebiated the ￿$t of our A Level and GCSE coursework wlh a vast array of ideas. styles. tochniques. and arbslr vc*ce5. it was a fe&sl for the eyes as w811 as the mind. Thro￿ this. sludents certair￿Y èxplored the Gatsby Foundations: Curnsity. Creativty. Collaborab'on, Comrnunicat50n. Confvjence, ReS￿ler￿e. Problem-Solwn9. R8spe¢t, Organtsation and Ambition. That the stsndard ofArt at Woxham has remained so Co￿sten11Y high is down to eslabli5hing a nurturing. cr83tNe environrrent CA7mpl8mented by a foundation trainwvJ and working wth each indivbdual artist lo fmd their strengths and interests. Thi8 ts achieved through Ihe unrdenting commitment of thè art t8achers. the hard work of the pupiLs. the livety activity wogramrne. the trips lo 9all8riéS. the visiting arti5twcYkshops. the Competstio￿ ente￿d the evenin9 access to sbJdKJ space forthe eh I￿rn. Thi5 year we invitod Jganatte Bamas and Kate Boucher lo delwer drawtng rnastercla55e5. WB took a Ip to Parts to exF4ore Rodin's Museum, Ihe Pompthu Centre's collectv)n of modemist arL Versailles. Montrnartre and the arChileCtu￿ of Frank Gehry atthe Louis Vuitton Foundation. Stsjdents repregenled the schcery Terra¢tr. am 49 in 2M form collè¢tNety painted a beautiful VIBW of the school seen through the magnolrd tree. and frL¥n 104 presentation5, 6 speakers were sde¢ted to ddiver thew research on a single of art to an invite(l a(wJien¢e li Ihe HarileEa 61h fom7 Art studios Surrounded by the Summèr ExhilJltb￿. The higNwht ofthe MUSI￿ ¢alendar Ihe Chapel Chow tr￿r to Vienna. ama￿n9 eyper¢ence lor pupls, rt Induded a very speckal mornent to perfo￿1 in si siephan's C81hedrnl wrth rich musi¢81 htstory - where Haydn was baptised. Haydn marrled and VNakli i5 bur￿d. Trips to S￿ the City of 8irmirMJham Syrrphony Or¢hestsa perform hdped raise musi¢al awareness. ffispve and offgr a sense of awe. The class￿ FM Hall of Fame Concert forall GCSE and A Level pupils induded a whle aThèy of MUS￿ from films to the familial classKs ts all GCSE A Level ￿lL*l • besFthe tr¥J lor Music Award Holders to hear the outstanding balel musc from Romeo & Ju&et by P￿kor￿1 was deeply tth¥erfiJl arml mowng. A vast number of applications for music lessons at Bloxham this year has come frun the first fom. an YICTeolble yeai group of musicians where 69% receive fessons at schcnf. Twenty-eight music exams Were tsken through the sch¢￿1 last year. 39% gol a merit and 18% a disbnckn. The Lvn¢srt plauprms continue to be well received with gty)d all￿¥jarKe ar•J a galvanising force for tlwjse leaming and perfomilng to each other. The Lkama department had ￿¢￿e$S vlilh over 1ry) LAMDA for group. paired and sdo exams BLOXHAM SCHOOL LIMITED DIRECTORS, REPORT (Incorpornting the Strateglc Report) YEAR ENDED 31ST AUGUST 2023 cross all grades vAth the department Contin￿r￿J its trend for a high propoition of DistTh)ctitin grades. The school's annual production of 'Cyrarts) de 8ergerae' was sel in-the-rC￿nd and saw from Fourth Fts￿ to Sixlh Fomi anjoy pwfrjrmry a ¢omedic ygt thoughts)rovokin9 love story. Lower Scho actors perforn*d 'Pericles' in the summer terrn to audiences at prize-9rvir¥J. %thilst a Th¥d Form ca51 showed their taknts in a devised promenade woduction in which the avdience were ￿aYful￿ enticed into the %*thodunnrt genre. In add(¢*)n. Ihe Bk)xham welcomed the famous ComplKile Theatre Camparby to run a Mirkshop wlth ourA-￿Ver students-. Dr Jce Winston from Wamck Un￿er$lty as part ol his thesis expIC￿ng Greek Myths: Splandid Theatre Company trj run a ckmiing workshop. Akngside a HoLtse Drama competitson that saw perfornances from one quarter of the school, there have been 8 gfeat many excdlenl oFportuni¢ies that students have m[￿s￿erY grasped. Sport Swrt continues to play a key part of a wpfs time at Bloxl￿M School. A strengthening fixture card featU￿d h¥Jh quality oppogtion 8¢yoss ¥ll Irus sports. Bloxham fitlded competitive sides in the focus sports ot wgby, hockey. nelball, (￿cket and lenni5. and also in athletic5. basketball, squash arKI tquestrianssm. In addiiion. as partof Ihe broadw CUrrKU￿rn can parti¢ipate in other optx)ns, sud) as Fives. golf. saling. climbing, swimming and clay pigeon shooting. The 2022123 academic year also saw tndiwdud successes in cnL*et. rugby. nelball. footh¥l. goff, karb"w. athletics. sailiry. eventing and v*JtiThJ. Publlc benefit In the ¢ducallonal field The parènts of cur W￿1$ often make si9rtfficant sacrifices to pay the School's f8e5. In addition to Iho £879.400 in ffinancial assistance to parents who would otr*rwise not be atAe lo send their children lo Bloxham School. are abre to pro￿de a firslrflass educatK•n for 525 UK based wpils. We pro¥ided oppOrtu￿tieS a numt*r of adums who afe considemg a career in teaching tr) talk to us •YJ lo observe lessons. We a￿ aLw c£¥nmrtted to Pro￿lIrtg oppcK￿n1tse$ for pupiL8 at university to gain actical teaching experience as partof their PGCE teachertratning course byoffering teath¥￿ pradicg rAaeements. with one teacher urrfjeftsknng a PGCE paid for by the School. Public ber￿ffit to the wlder cofiwnunity Thg Sth{￿l fosters rnany links wilh the Icvl cwnnyjnltythrough meetirwJs. Fint Frfoiects provis#Jn of ts faulities: The Bursar meets wilh the Parrth cO(HM￿ tem?ly to b￿d c47mmuiwty knks and as required in respwse to specffic i55ue3. The sCh￿￿'s svthmmlng pool and sports laoltss are made 8vJlable to clths and ￿nISatior in addition to the Sthw15 J)e1￿. These indude youth lootball. I1￿ and ¢cwty ¢rick8t. aTr unty h(Kkey. triaihjon. swirnnrring and Scouts. Our Muslc fa¢ilit*s •re made awlable to a wde range of ltscal musi¢ so¢ieti¢s. The School's Cunbined Cadet Force UTht wbcipales in the Bloxham Mllage memorial swl¢e. Our grounds staff support wintw $Otety pr¢gramrn¢ wthin tho MI￿98, holpin9 lo grit pavement and public areas betsyeen the Sthool and SL Marfs Churth. Our grounds leam also help to mantain and Trpair k¢al atyas ￿ere requwed. Cornmun5ty swvlce A$ 8 part of the Sixth Fum programme. all pupifs In the Lower Sith are required to undertake a year5. worth of community seryice to a specific pr(4ect. Pupils of Great Tew Primwy and Bloxham Prirnary h8ve enjoyed weekly sessions Sixlh Fom 8cross a rwje ofsubje¢ts induding w( OT. maths. cooking and rnodern foreign languwJ8s. tdoor edU￿tion Ourtng 2022-23 over 90 Pukxls embthed on Ihew Brc¥oe Ouke of Edirtb￿Jh wilh 14 pupib slgned Ltp for Ihe Gokj Award. Bronze practlse was Ic¢al to school and the assessed expediuon was on the Long nde in ShrOpShb￿. The Gold expeditions were in N¢yth Wales and the Lake District. The Silver award wa5 stsrted this year for fourth form with 16 students tsknn9 pa￿ Expediltons tojk Flace in the 10 BLOXHAM SCHOOL LIMITED DIRECTORS, REPORT (incorporating the Strategic Repo YEAR ENDED 31ST AUGUST 2023 Pe8k District and Dartmoor. Further￿￿doortrips. (yJtside of Duke of Edinburth expeditions. y￿re held North and S(wlh Wales. F￿t William. the Lake Dislrrct and Vallthjise V811ey (Ajpsl for pupils lo test Ihoir kayaknng. r￿k ¢￿"mbIng, ralting, surfing and Menleering skills. A $tydont W wJ8dition took pla¢9 Iceland where Ihe students c￿)leted a 7 day unswported trek. Community We conlknuè to t￿lIa dose links wth our nevJhbouring see¢TrJary $th(￿. Tho Warrlner Scho￿. and local prirnary schTrJls. Our dedicated Outreach Officer ccyNdinales OUT ￿treach prc*Jramme with Iccal primary $¢hwb. In Parb￿lar, ￿ contirMR to give broad currh%lLm support to ￿0XhOM Chur¢h of England Priw School and a range of swling arwj broader CWTwAlum aclivities to many local $thools Including.. Httkey. netball. rugby 8nd crt*et u)8¢hing in a rary of wimary schools Hosting of sports day for St John's Priory Hosb"ng the Oxfordsljire County Criekei festival Hosting t*YJ OxfordsFMre Hockey Feslivals lor B*)bury Hockey Club Hosting NOSSP Hockey Festival for the I￿1 primary sch)Jls." Chri51oFther Rthins. Shennington. Deddington. Dr Rad¢lrffe's. Homton, Bloxham and Sibford Gower Pwrfing ¢lubs lo Bloxham Church of Englarxl Primary Schcd and Greal Tew Prwnary School in arL cookery. DT. maths aTrJ m&Jem forelgn laryuages ProvKling pool faul1t￿S and staff lor Woxham Prrnary Ptay hcd•Jay tamp sthen Banbury Hockey Club and Rugby Club atteThJed our Annual U11s R￿Y & Hockey Prep S¢hcds' Festival We offer ojr switnming p)ol an¢J 5POrts faulilies al heamly subwdised rates and prowde swinming t¢acher5 al margThl cost lo I￿al schcoLs. induding.. ￿0xharn Primary Church of England S¢hool. Deddington Primary Schts)l. Dr Raddrlfe Schts￿. Th• Grang• Sch(￿1, Gr•at Te* PriffAry School and St John's pr￿¥Y SthcwJl. Additionally. Bloxharn Schcd offers old courses and pcd rescue c￿l$eS to herp kxal schlKi￿ In meetlnglgglslaiive requirements. Outr•aeh We ¢￿tinue lo bjikl link5 Wfth numerous wmary sthoc4s in our area We haye made our fa¢ilrfies end teathing expertisa available lor th¢se s¢hth)k. for ex2mple hostiThJ a Fun Dayfor Bloxham Prwnary bmth art. Climbing, DT and swmming activities for their Year 6 reavers a mryning of Scv&n¢e workshops for Great Rollighl. Kingham. and Dr. Raddrffe's Primary Schools. We also held a Music Day for local primary a￿d musiaans with children from Deddington. Frits¥ell. Shipston and &aile5 Prirnary s¢hools and a Creative Writsng workshop buddlng authors. wlth chjhJ￿n attending from Bloxham. Cropredy. fjroham. Chadbury. Dèddington and Great ROItr￿￿1 pnmary sthDtsL%. Ajso attending from Brailes. North Newington, midd￿ Barton. Takeley. Frihvell. Newboiue and Chartton. SiJverstorE. The Prior5 School. BIake￿eY. St Mar￿$ RC. W¢￿05tC<( Marsh Gibtsc￿ and Hook Norton. Charitsble Acllvltl•s Bbxham S¢lwl wpib have taken part in a vaiiety offvnthaisng events I￿￿￿h the year for a Nmber of ¢harftres. CharilEs supported by thg School's fundrwsing efftNts during the year inchJde: Katherine House Hospice. Breast CancerUK. Hden & Douglas House. St. Marfs Church Bloxkn. Compassion. and Royal British Legion. Fundni$ing porfomiance The Compaftycontinued to Work 4••ith an extemal fiJTrJ raiser. RSAc•Jemi¢s to raise philanthropic ftjnds oxham Sthool and provide interim rnanagwnentof the development funct*)n. In August 2023. the Sthool appointed a Head of Development to continue and expand on the work thal has been dgne by RSAcademics. Bloxham Sctrthl rtsdfis registered with Ihe Funthai8in9 Reswlator which meansthat Ihe School land therefore RSAcademKs) is committed to fundraisiT¥J best practice. 11 BLOXHAM SCHOOL LIMITED DIRECTORS, REPORT (Incorporatlng the Strategic Report) YEAR ENDED 31ST AUGUST 2023 Investment perfornian¢e against obiectives Th¢ Cornpanys investments a￿ M￿aged by CCLA Fund Manager Limited. The objeclive of the fvnd is to prO￿￿e good ￿lUMS based on market treThJs with minimal ri5K During the eaAy part of the year, the fccus of central banks in most large ecowmies on controllFng inffiati)n throw￿ tighter monetary pc4icy resulted in rer*55h)n. This was followed by a period of volatifity durirwJ whith Ihere wa$ a modest Increase in eaprtal values. lalfjr part of the year saw equity markets make progress, bvith gains narrowty based on a handftjl of names. mainly in rformation teChr￿k)Jy, eryoying exceplwally strong relums. During the yeaT as ¥ whok. Ihe market walue saw a 1% gain in value {2021122." 1.9% knssl. Inveslments are hehl for the Ictyterm and r8pres&nt aft￿nts yet to be spent cn education. Key Perfomiance Indl¢ato The Kgy Pgrfofmanco Indicalors (KPIS) used by the SL*ool are.. KPI Target ActUo1 ".Surplus.' S% of tolal 4.8% P.upil Numbers 520" As Ihe Schcd is in the Middle of a (levelop[r￿1 period, the ￿'rectorS have set o S% surplus on total income. The &*ccl exceeded the taryet for wpil numbers with 550 pupds on the roll in Septenthr 2022. The addili¢nal 30 pupils boosted wxc*ne the year. enabliTrJ a surphjs of4.8% to te ac*teved in spite of rising costs. RNANCIAL REVIEW R¢$ults for the year Gross in(y)￿￿fOrthe ywwaswTr by M￿lhan VA M lasl year. relleclingthe kncTease In pupfl numbers durfng the year artd Iho appr0￿matety 4% increase in fees pw pupl. The Income for the year arn￿nted to £15.184.12012021r22: £13,730,973) crfthich Ihe net Incomowas £732.511 (2021r22: net income of £29S.113). This was below our lar9eted pe￿entage of fee inc￿ne as set oul irt our long term Fdarts aThJ was after charging £153.955 expeftditu￿ on maintenance and refijrbishment of sthool buildrng and boarding houses. This surplus has been achieved wrth a iise in fees lower than inflation and against a bad(drop of str(￿gty rising watire costs. so that in the (yrcumstances ¥￿ consKler il a $atksfxlory achieveff*nt. The Sthool's trading company Bloxham Ente￿IlSe$ Limited contin[￿ to hire out the School's faalities rin9 school holidays and outs¥Je school hours. as wel as undertaking tr)mmerrial ath.vity on beha of the School. The results arg $wimarised In note 31 of the fir￿nCial slatements. In the summer of 2023. Bloxham Enterprises hosted Inlemal¥Jnal Sbjdenl Camp IISC) intemabonal knguage school. The parents of our PUF*ls often make signfficant &iCrifi￿S lo pay Ihe fees. In ddng so they help to relwe the state of the finarrial burden of educaling 525 UK based chlldren. The saving is estimated to havè a valuo in the last year of £3,847.440. The 1$ aLw unablè lo reeover the VAT on pur(*ase5 it makes. DuriNJ the paslyear. Bksxham sc￿01 has paid an estimated £626.198 (2021122.. £757.604) n trrecoverable VAT on gc￿S and sewites. Reserves level and policy• and financial ¥&•bi Ithas teen the Schty)I's policyto ublise unTe51rraed frjtststo tnswe Ihat hyhquaf1tyupt(￿tefacd1ties are provKted for Ihe benefft of PLyls. The airn is to provide enough wothng ¢aptsl to meellhe present needs and fubjre devdoK¥nenl requirements of the Sclwl without the requirement to have reccsurse to sales ol t3ryible fL¥ed assets. The balance sheet ￿ntaInS a number of non-cash aTrJ kJnger-lemi tiabillies. Gc￿￿ forward. the Company plans lo fund longer ttm Caprt￿ eypenditure and meet tong tem liablities through careful 12 BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT (incorporntsng the Strateglc Report) YEAR ENDED 31ST AUGUST 2023 man￿ement Of￿50UrCe5 and Ihrough ￿lIdIng reserves from c￿erat￿sand tra(fing. The COmpan￿S unrestricted reserves are wrnanly irNested in t￿Ible ftted assets (see Mte 24) whth are all used f its dired d)aritable acbwties. The Companys financial ￿abl[￿ does rnt depend on inoTh reseryes in ts atxlity to conlinue to tradè 818 suwus on an annual ba515. and on ￿ wbs￿￿ti•l p￿￿01*> offixed assets held for operational use. The dces not have. and carwt ffly on. PBrmanBnl ¢ll¢Jo￿nts. Engagement wilh suppliers, customets and ot￿￿$ In a ￿sIneSS rdationshlp Bloxham School Limited seeks to engage activety and posliNe￿ with dl stakeholders In the lot commur4ty and in wider educational lands¢ape. Collaboralive relationships with suppl*rs. pa￿fits. edurat￿n¥1 partners and community leaders are seen a5 key enablers to 8th￿¥1￿ su¢c*ss in all of Ihe Company's operatlons. Ourin9 tho year the Company has fwlher pr￿MIed thi5 engagement though ￿ltiatiVeS includiry= Regular comrnunicat￿￿ and er8agem$nt with pawwbts and prospe¢￿ parents of pupils attenrjing the Schcol lo enhance the understanthng ol the provi5Kfft to eath pupil ¥rwJ to fully ecordinate support to pupls from parents and s¢hcrt)ts. Ertgèyemenl with other educational organtsations an(1 partner5 at locat arHI national levels lo share bèst practice and to provlde peer supporL Actlve ¢Jialogues wih le¢al councifs on matter5 vthich impact ¢hildren families In tho communty as well as reLate to the (peratK)n of each school. Engaging with kxd businesses to womote career and educational Opp￿ille5 for pupd5 for their mutual benefiL Seekjng all posslble opportunlh.es to eng￿e whh local aTrJ national suppliers h the area Seekn'rvJ fegular communlcation wilh al suppliers and ersuring good comrnercial practices of. pyompt payment and clear commLmKakn to optirrise arraNJements for supply of goods and serylces to the Company. Promoting antj en¢ouraging pupil •)d #aff opp)rtunlbe$ to engagg In hxal voluntsry aTrJ other proje¢ls to support the ¢omwnunty. Prov*Jing community access to the sChts￿ and. In mary cases. adoptwbg a role that puis thè school or academy at the heart of a comrrnwwty. PRINCIPAL RISKSAND UNCERTAINTIES The consideratKJn of nsks in the paragraph5 bel￿ reflects the current more stable environmenL post the Coronavirus PaTrJemie. off&ring a wider view of ¢omnKJi events pkis a speclfic rfsk atthose onts that Could irnpact the contmuity of educatNJn. The independent sectoras a ￿018 lscurrentty subiectto Fotwtially increased politlcal risk as the slated policy otthe Laf)our Paty is Its renkive tax ¢on¢xs*)n¥ for C*arita￿e independent sch￿1$. If elected. and if this pollcy Is enacied. there ts a slgnmlcant to the I￿Pendent sector as VAT W¢￿[d have to be added to school fees. This would ￿entiallY rnake the fees ￿affr￿d8bre lor a prcy>rticm of parents. materialty affecting Ihe Thicome. R￿rUItrnent in certain roles has been ffl￿h harder with Jlmiled rnmbers ki ¢atering and hospStality rd&$. Similarty. rt IS lloliceakle in support WHI admini5tralion roles Ihat any recwitrnenl process has to answer questions about remote working. The Dlfectors keep under COn￿deratIon ts Impact of a catsstrophfc event on the Company's ablity to onlinue, bul that event may ¢orne about from rnany causes bgng spe¢ifi¢ al)out the $ourca is not possible. The ¢onsideration of risks n Ihe paragrnphs below i8 therefore refiective of a more stable gnvironment and does Spe¢rf￿NY ix4¢ ai the Ctyortavlnjs pandemic. or olh&r simtsr events, bul offer5 8 wider view of common events plus a spgth risk at those events that could iThwct Ihe continuity of edu¢ation. The Ctsjncll Is responsible forthe Identification and manayeff*nl of rr5ks. The major rtsks lo vthich the Company is exposed, as idenbfied by Ihe Directcrfs. have been reviewed and sysfeTh￿ or procedure$ 13 BLOXHAM SCHOOL LIMITED DIRECTORS, REPORT (incorporating the Strategi¢ Reporfl YEAR ENDED 31ST AUGUST 2023 have been esta￿•Shed lo manege those risks. Detsil¢d examirnibon of the risks aTrd ¢stablk%hmenl ol controls to m6tl9ate them is delegated to the Key Management Personnel and the process 15 overseen ty the Health & Safety thrnmittee which in tum reports in to the F&GP Committee on behalf of the Council. A formal review of the ri$k m•)agemtrnl pro¢esse$ ts urtrjertaken annU￿ty and the strategic iisk register for each Council sulKomnNttee is n¢y4V reguLarly rewewed. The principal risks to which the Company is exposed those affe¢ting the proleclion of pupils and se¢urity and prewvalkn of Companys assets. bolh now ar¥J In the futUTg. SIgn￿cant iisk aiaas are as follows: the market in vthith the SclKxA Ope￿Ie5 rs hvJhty competlive al￿ we rnonttor develownents in education lo ènsure that pup4s aWys recerve a fjtsl dass. hjlistic and varied educational experience in Ihè S*￿01. The Th"rectors consider the eC￿ornI¢ lurbulence of iK¢nt years and the affordabllity of fees by parents a¢ross the Indepen(lent sector to be the prindpal risk faced by the Company. Schwl Fees fu the 2023124 aCadern￿ year we set in May 2023 when the Consumer Pri¢e Inflation late was at 9%. Consaous of the increase in cost of living. and the ability of p8rents to rn¢et Ihelr Th￿nINY costs. the Councli decided to keep fee increases beknw 9% on previous year. The School is Current￿ full: the School and Dtye¢tor$ are aware oftsl Cyber Crime is an inueasrng risk on the business. The Director of IT has responsibli ty lo ensure that all systems and ne￿rkS are proleded. A newty formed security comrrittee. w￿"¢h wll ￿p<￿t uilo the H&S Cornmittee. has been created and Cyber activity wll be ¥n imFrfXtant part of the remit. The Oiiector of IT wll o)nlinue to Improve schoor security1￿ere Fossibl8: Healih arKI Safgty 1$ always a sh)n￿¢an1 area for risk managgment. The risks range from fire and infrastnJcture to personal ￿kS {n￿t rK)t?iAy when awayfmm the¢ampus mtrips and 8xpedib"onsl. We strfve to ensure that all staff are able to work in a safe and supportive envwonment and wli¢ie5. pro¢edufes and training in Human R¢xwr¢e mana9ement and Health and Safety help to ensvre thatthe Company meets expectations. The level and breadth ofathty al the S¢hoof is impress￿& and the risks associated w*h all actmknas am minimised by tI￿r￿gh planning and risk as5essmenl; the School operates In a hi9hly regulat8d sector. induding in mattets of child prolect*)n. and we appoint appropriat& professMal advws to ensure that we Can keep LP to date with all requ1￿mentS. The Schcd's or indNidual's membership of bodie5 be￿g the con5trtuent associations ol the Independent Schc<45 cWn¢￿ also on$ure Ihat we have access to Upt￿date ￿orrnat￿ $tsppoIL C¢)mpany Opefates in ari incr8asins* Ib3ious en¥ircnrnenl and ￿ appohl gppropriate professional adviseTS and purthas¢ ￿sUranc¢ usiry speualist brokers aThl advws to ensure that we can keep up to dale with all requKements arml meet dl chaNen9es' and all organiSat￿nS la¢e dthujli e¢0￿Mi¢ Cono￿On$ and diredors and senior rnanagers in Ihe School keep abreast ol economi¢ coTrthl*)ns locaThy, nationally and internationally to identify tr&nds and develop plans lo add￿$$ iswg5: in Ib3ht of th¢ high inflation levels in 2023. we ￿e moniloring expendrture carefully arKI making adiustrnents Whe￿ practicable key controls used ty thè C<*npany to Identfy and ffranage ri4k indudw. fom7al agendas and mNxrtes for au rnee11r￿ of the gOvernW￿ body and ¢ommitte¢s', terms of reference for all committees.. stralegK risk registers fty dl ¢ornmittees and opeiationol th managed through the Heallh & Safety Committee and Health & Safety Manager.. comprehensive strategi¢ planning. ffinanck4 fofe¢•sb'Th3. bud9etxw aTrJ management accounting.. established and identrfAble or9arMsalional slruclures and reportKy lines which are regularly reviewed: cornprehensive fonral written Fdicies.. ¢lear authorisatM)n limils.. and vetting procedures, as required by law. for PrOteL*￿ of the wlnerabte. BLOXHAM SCHOOL LIMITED DIRECTORS, REPORT (incorpornting the Strategic Report) YEAR ENDED 31ST AUGUST 2023 FinancFal ri$k management objectives and policles Thecompany uses finandalinstrumerrts. thrthand￿P￿tlv￿. Co￿1n9 loans. ¢￿h olhw Iv4uid resources and variou5 other items such a5 trade debt￿5. ¢rerfJtors and finance lease arrangements that arise ijirectty frtjm opeiations. The main purpose of these )I￿la1 insttumenls ts to ralse finance fcf the CoMpan￿S ¢¥8rations. The main ￿SUeS arising from the COnpan￿S financial instruments are liquidity Tho Directors adopt poltues for managiry exh of the risks and these are summarised bekn•r. Liquidty rlsk - Ihe Company seeks to manage financial risk by ensurirYJ suffici&nl Ilquvjity Is available lo meet foreseeable need5 by negotiathng adequate fa¢dities from banks and other lenders: and Interest rate rfsk- the Company finances operations ttrywgh a mithre of retsined SLrrpluses aTrJ bank and other borrowiry. The exposure to nteresl ral* flu¢tuations ￿ managed by the use of both fixed and floating tsulitses and. in recent ts"me, ty re-negoliating the terms of loans. Monihly, annual and ffive-year cashfiow forecasts are produced and reviewed on a iegufar basis updated by the F&GP Comrnittee lemiw. ensuring that the Company has the cash pO￿tion it requir&$. At the same lime. the covenants wt ￿ ptace by the lenders are checked againsl Ihe compart￿5 ¢ash positin and ffinanckal performan¢e. GOING COIICERN Thec0st￿f-Ilyrng ￿15 and risiw Inllalion seen in 2023 tpAI inwt on Ihe SdY)Jl'sf￿eca5ts Iur income ond expenditure. The Sthod ha$ gr￿n from 530 to 561 wpils vi thè last 2 years. Thi5 has been natrjral rowlh in line wilh the prior 6 years as Ihe Sch)ol have opened the day house and expanded boardiNJ capacity. This will allow the Sc*ool to be nKJr¢ robust as it faces Ihe challenges overthe corrring years. Having eonsidered all f￿0T5 arKI revievmg tho a¥allab￿ wdaxe. the Drectors have a reasonablo expectation Ihat the Grw will be atle to (¥ffttinLte operating for the foreseeable fuiure aThJ th8 financlal statements have beèn prepared on a going concem basis. Further detaits related to the adopt￿ of the going ujncem ba￿$ can be fr￿nd in the aco)unting policie5 on pagg 26. FUTUREPLANS The Strategic School Development Plan has been developed ￿Jt ofdirection from the Direclors and the Heajmasler. The School's (*arblable objeclives and aims 8Tr ¢entsal lo wr purpose and should be Ihg foundation of 8vgry pupal's ethKatK)n at Bk)xham Sctrthl. These core values remain ¢entr81 to our planniry for the fvlure. The Comparby intends to Con1kn￿ thg irnplementat¥)n and imFKoved faalities as Fwt of the Stsaiegic School Development Plan sel out ￿ 2019. Thrs 15 based on a healthier fnancial position. growth ￿ pupil numbers and a strcry demand for ￿aCeS ￿ the ajming year5. In 2023f24. the Company ￿11 Gomplet? Ih? car park proj*c( incr•asing the parking capacity by 43 spaces and prov*Yiro co8th parking. The Company ha5 Suctesslully obtsned planning pernission fc¢ an oxtension to its car park atthe front ofthg School w￿ch will help facilitate rh? in¢rea5ed demnd for spaces as pupd nurnbers grow: the Oirectors anticipate Ihi5 lo be the next pr(4ed developmenl on sile. The Sthool will also ￿tInUe lo WO￿ through its orwiro rr￿intenar￿e plan and the refurbishment of boys boarding hc¥Jses. 15 BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT (incorporating the Strategic Report) YEAR ENDED 31ST AUGUST 2023 DIRECTORS The D¢reckns who seNed during Ihe year. and the ?￿rrItteeS ofwhich1trw are members. are.. E L LewiS-JC￿es C￿chaIr Commiicalions & Development C*>c￿alr ComrNninlkJns & DevdoFrfnenL F&GP FaGP F&GP El￿all0￿. Boardirvj Pastoral Communulion & Devebpmenl EthKatKsn. Boarding and Past¢)ral- Ed￿at￿n, Boarding and P8Storal FaGP He￿th & Safety Goverrpy lo F&GP F&GP STWo& L Anelay P R Clay50n E Coles Kemp H Harper C Macintosh ANott S Richards CAShaw MRWar {resIgn￿ 22 June 2023) (res￿￿ 22 June 2023) {resKJned 31 August 2023) None of Ihe Di￿(￿(￿ have any beneficial interest in the Company. Bloxham S¢hcw)l Limited obtalns trustees and officers insurance on behaw of thg DIrer￿. AUDITORS RSM UK Audit LLP, hawng expressed theirwiltingness to Contir￿e in offirn. will be de2rn￿ ieappointed for the next financial year in 8c¢ordan¢¢ wth se¢tion 487(2) of the Companies Ad 2006 unless the Company receives notice under se￿10n 488(1) of ts Companies Aci 2(th. DIREcll)RS'RESPONSIBILITIES STATEMENT The Director5 are respor6ibh for Prepari￿ the Drectots. Report {iworating the StralwG ReprKt) and the financlal ststgments In wilh akWi¢¥ble law r8gulations. Company law requires the Direcl¢Ns to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the ffinanoal ststemènts In accordanc8 wth United Kingdom Generally AC￿pted Accounting Practice (United lQngdom Ac£ountirrfJ Stsndar(Is and appli¢able law) includin9 FRS 102. the Financial Reporting Slarmlard applicable in the UK and Republic of Ireland. Under company law Dire¢tors must not approve Ihè financial statements un￿sS they are satsfied that they gNe a true and fair view of the state of affaits of the tharitable Company arKt th? Group and of the incomiNJ resources and aFpli¢ètiM of resources. induding the income and expenditure, of the Charitable Comparry and Gr<>up for that peric#J. In preparing tr￿e financial Statements. th& Dlr8Ct¢ are required to.. $ele¢t suitable accountiry polKxe5 and then awly them ¢onststentty.' observ• the mettrKKJ5 and principles in the Charities SORP IFRS 102}.' makè judgernents and accounting estimates Ihat are ￿aSOnable and pnmlenl: stste ￿ether applrcable UK A￿￿tirtY Startdards have been fdlowed. subject to any material departures di5ckJsed and explain￿ in the fir￿chil staterr￿nts. and prepare the fin•¢491 st¥l&ments M tho g￿n9 ¢on¢wn bag"$ unlèss it ￿ inapwopriate ¢0 presume that thè ¢hatitable Company ￿ Grw wll continue in busirnss. The Directors are responsible for keeFKry adequa¢e accounling records Ihat 8rtr sufftiènt to show and explain the Gharttabl¢ Company'5 and Gr￿P.$ transadigns and disck)se wilh reasonable accuracy at any time the financial F*)siti'on ￿ the Company and Group an(1 enabTe them to ensurè that the ffinanckal statements comF4y wlth the Companies Act 2006. They are aso responsible for safew4rding th* assets of the charitable Conyany and Group and hence for tsking reasonab￿ step5 ts the pievenllon and delecbon of fraud aThJ ottrw irre￿lar]￿e$. The Dlractors ￿nfiTrn IhaL so far as each director is ware. is no rÈknnt a￿1 InfO￿aknn of whth the th8ritstMe CoMpan￿S aud*or is unaware: Ond 16 BLOXHAM SCHOOL LIMITED DIRECTORS. REPORT (Incorpordting the Strategic Reporfj YEAR ENDED 31ST AUGUST 2023 *)e Drectors. have laken an the stsp5 that they W fo have token ts Oiftetots in order b make ihemselves 8W8re of any relevant audl inf(wmaticn aTrl to establish th8tthe charitable Company's audit￿ is aware of that infom)ab¢)n. The Director5 are resp(￿$YO1e for the marntenance and integrity of the Corporate and financial information induded on the charitrt￿e Compart￿$ website. Legislatx* In the Uniled Kingdom &4)veming the preparaticn and ¢JssemlnatK￿ of f￿andal slatewEnts rnay drffer Irom kgislatwjn In other risdiclions. Appruv*d by the Boanl uf DirectTh5 of Bloxham S(*th on7 [le￿￿b￿r2023. induding. in the￿￿Pa¢ty as Company dKectors. apwomng the Diiectors. arKI Strategie Re￿rtS ccmtained therein. arKI signed on Its behalf by: E L LeWIs￿One$ CHAIRMAN 17 BLOXHAM SCHOOL LIMITED INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF BLOXHAM SCHOOL LIMITED YEAR ENDED 31ST AUGUST 2023 Opinlon We have audited th8 finanaal statements of 8loxham Schwl Limited lthe'parenl charitable eompany I and its sub5idi**s {Ihe 'gTOUP') for the year ended 31 ￿4*j$t 2023 ¢(￿Wise Ihe Group and Charity Statement of Financial ACti￿e$. Ihe Group ond Coryany Balance Shee15, Group Cash Ftow Statement and noles to the ￿nancial siatemenls. Ir￿k￿lIng slgnrf￿dnt acc￿nting poficles. The ffin8ncial reporting frdmework that has b￿n appl￿ in their prepafalion is applicable law and United Kingdom Accounting Slandards. indudir4J FRS 102 Tr Finanaal Reporting Standard appTr￿bIe In Ihe UK and Rewblic of treland" {United Ktngdom Generdlty Accepted Accounting Practtce). In our opinion the finaxial slatemènis.. give a true and faK Mew of the state of the group'5 the parent dwritable CoMpan￿S affairs as al 31 August 2023 and of the group's incoming resources and application of resour¢¢s. tn¢ludSng rts Income and expendI￿re, fty the year eTrJed" have been properfy wepared in accordance with Unil&J }Qn￿1r￿n Genernty Ac£epted Accounting P￿Ice. 8Tr have been wepargd In accordance wlth Ihe wukements ofthe C(mP￿leS Act 2C*)6. Basis ft*r oplnlon We have been appowiled audilots uTh1er the Ccthparues Act 20(b arKI $8ctx)n 151 of the Charfi*s Aci 2011 and report in acecrdance with those Ids. We conduded our audit n accof(lan¢e with Int8m*K)rwl Slandards on Auditing IUK) {ISAs IUKII and applicable law. Our responslbrlities utKler thosè standards are frJrther described in the Audit￿$ responslbllities for the audit of the finarKial slat8ments s8ction of our reporL We are indepéndènt of the group and parenl tharitsble rompany in a￿ordance the ethtsl requirements that are rolevanl to audit of Ihe ffftan¢ial statements in tr* UK. induding the FRC'S Ethical Standard and wé havè fulfilled our Ottr￿r ethul r•sFthsibilities in accordance with ihese requ1￿mentS. We be￿.&¥¢ thal the audth evidence we have (￿taIned is sufficsent and apwopriale lo provide a basis for o ¢¥inion. Concluslons relattng lo golng concern In auditing the finanual staternents. we have COn￿*jed Ihal the InJslees' vse ofthe going concem bg$is of 8ccount¥￿ in the prepar*ion ￿ the financiol $tstements is app￿Priate. Based on the work we have performed. we have not idenliffied any material uncertainties ￿lating to •vents or Gonditions IhaL indtviduany or wlleclively. may ¢ast Sgnfficant doubt on Ihe group's or parent chantable company's abitsty to continue as a gowu concem for a penod rA at least ts¥efve rn￿th$ from when the finondal ststements are auth￿8￿ kn issue. r respe￿sIbilItI￿s artd tho responsibl￿tieS of thg trustees wfth respe￿ to going ¢on¢wn wa descvthd In the ielevanl Se￿￿￿$ ofthi$ rep Other Infomiatlon The other Infomiation ¢omprises the informaticffl included in Ihè Direelers. RepNt other than the finanrA31 statements and our a￿*t0¢S reF4Xt Ihereon. The trustees a￿ responsible for the otF inforrnation contained wrfhin the t*rectfxs' ReF*wL Our opinK)n on the finarrial statements does Tr31 cover the other informatm 8TrJ. except to the extenl otheThYise expw slated in our reptsry we th) not express any form of assurance condusion thereon. Our respoftsiblty ts to read otherlnfrmalK)n ar￿. fft ¢Jtitry so. (Y￿s*￿er *thether the olher fbformalion is materially inconsi51ent with the financial ststefflents or our knwledge oblaned in the Course of Ihe or othgTh4ise appears lo be m¥terially mis$tstad. If identify such material knc0nslste￿leS or apparent material M￿Staterner￿. we ￿e reqLtired lo det8rnne whether Ihis gIV05 18 BLOXHAM SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLOXHAM SCHOOL LIMITED YEAR ENDED 31ST AUGUST 2023 rise lo a material mi5ststement in the finanLaal statern￿ts them5efves. If. based on1he work we have perfomied. we ¢ordud¢ thal trwe is a tywteri￿ misstatenwl of thB ￿fOrmation. we a req￿￿d to report Ihat We have nothing to rep￿1 wi this regard. Oplhions on other matters prescnbed by the Companie5 Act 2006 kn ow op¥nion. ba$8d ￿ the und8rtak8n in the cour50 olthe audit the inlormalion given In the Directors. Re￿ wh** K)dudes the Directors. Report and the Strategic R¢p¢yt prepared ￿ the purposes of company Law. for the financial yearfor which the financial $talernents are prepared ts consistent vAth the finan¢ial statsments.. and the Dire￿￿. Repcxt and 1he Strategic Repcrt induded within the t)Ir￿)r5, Report have been prepared in accordan￿ appfjca14e legal Tequirements. Matters on whleh w¢ are required to report by ¢x¢¢ption In the light of Ihe kn¢M4edge and urbderslandwo of the oroLtp and the parent chaiilable ccKnpany aTh their environment obtsined in the cowse of the audit, we have rK)t identrfied material misststements in Ir* Dlre¢tors' Report or Ihe Sifat8glc Rwt indud¢d *4th1n the Direclcffs. Report. We have nothing to repc*t in respect of the f￿￿￿1r￿ matters where the Cornpanies Ad ￿08 requires us to report to you ff. In our opnion: adaquats a¢¢ounlng Trcor(ts hav• rnt boèn kept by Ihè parenicharllable company. u returr adequate for i*Jr autht rvjl been receNed from branches not wsited by us.. or the parent ¢haritabfe ¢¢Mnpary finan¢iaf $tstements are not in agreement wfth the &counting records and retums.. or erta￿ d¢sCloSur￿ of Intstees. remunerabon specif￿d by law are not made" or we have not r￿1¥¢￿ all the infc¢mation and explanalions we requwe for our audiL Dlr•ctors' Responslbilities Stalement As explained more hjlly in the Statement of DirectOf5' respOn￿bIllI1es set on pa9e 16. the trustees (who are also the directors of the charitabte company for the purposes of cornpany lawl are sponsible lor the preparation of the financial statements and for bwng satisfied that ihey give a tsvg and fair view. ar￿ for su¢h internal tsJntrcA as the tntstees detemine is necessary to enable the preparab.on of financial statements that are Iree fr¢m material misstalemenL T•thethef due lo fraud or error. In weparing Ihe finarmxal statements. the trustees are wsible foi assessi￿ the group's and parent charitable company's abilty to contr"n￿ as a goiro ¢cmcem. disdogng. as aEplicable. matters related to going concern and using the going (yjncem basi5 of a¢¢xJunting unkss the trustees elther intend to liquldate the gwup or parent charllal)le company or to ￿ase opgratbn5. or have no rea1151 aftemative but lo do so. Auditorfg respon$M>il&tie$ lor Ihe audit of th• Ilnanclal statem•nts Our objectives are to obtain reaserfthle ¥$$wance about vthether thè financtal statements as a whole are free from material misslatemenl. 7phtherdue lo fraud or etror. and to Issue an aLFditorfs report that includes our opinHJn. Reasonable assurance is a lygh level of assurance. but ￿ not a guardnlee that an audit eondu¢ted in acCortlar￿é ￿th ISAS (UK) will always detecta material ￿USStatementWhÈn rtexi5ts. sslatements can arise from fraud or error and are o)nsidered material rf, Tr￿1¥11￿1[Y ￿ in the aggregate. they wjld reasonabty be experAed kn #ifiuence Ihe ¢coTr)mic de￿5￿n$ of usws taken c the basis of these finan(ial siatemonts. 19 BLOXHAM SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLOXHAM SCHOOL LIMITED YEAR ENDED 31ST AUGUST 2023 The •xtent to which the audit was ¢¢nsldeTed ¢apable of detecting irYegulwili¥s, Includlng fraud Irregularities are InStar￿¢S of rv)n•CL￿pItanCe with laws and regulations. The Obl￿tiVeS of our audit are to oblatn suffieient appropriate audrt ethdence regardi)g CoM￿lance with taws aThJ rewlatiJns Ihat have a direct effec¢ on the detennination of material arno￿￿ and d15dosures kn t￿ financial staternenls, to perform ￿di1 ￿￿edureS to help identfy in5tance5 of Th)nns that may have a mat￿14[ effect on the financial slatements. and to respond appropri8tety to identified or $USF*Cted r￿[￿0mplance with laws 8ThJ r¢gul8tions wjenlffigd during the aL*Jit. In relation lofraLKI. the objectives of ourauditare lo idenbfy and assess the risk of material mis$tstement of ihe finan¢ial 5ts1ements due to Iraud. to obtain sufficient appropriate audrt regard￿9 the assessed rfsks of material mtsstatam8nt due to fraJd thrwgh d*nlng and irnplemenllng appropfiate responses and to reS￿d appropnalely to fraud rK suSp￿￿ed fraLKI Klentified duriThJ the audf(. However. it is thè wimary r8sponshility d managemenL with th• ovefsight of those tharged with govemance. lo ensure Ihat the enb'tys ￿TatIonS are eonducted in accordance wrth the p￿VI￿onS of laws and regulab"or6 arwj for the prevèntion arK1 deteth.on of fraLXI. In WJenti￿ng and assgssiThJ risks of material m￿￿tatement in resped of irregularities. ￿¢￿dir¥￿ fraud, Ihe group audit eTr3asement learn. obtained an uTrJerstandin9 of the nalure of Ihe sector. including the legal and regulatory fram&w￿5 thai ts group and parent ¢hanlable company operate in and how the group and parent charitable company we conylying with the ￿gaI and regul*ory franeworks. n4uired of marwgemenl. ¢hw Charged V*ith ￿ernanCe. about their own identffjicalion a￿1 assessmgnt of the risks of Irre9￿ar￿eS. includirvJ any knTh￿ actual. su5perted ¢r alleged Insta￿e$ of fraud: discussed matters ￿￿ul non-compliance with lawts and regulatior+s and hOwfra￿l mvJht occur In¢ludirKJ assessment of Iw and the ffir4nco1 slatements may be sus￿ptib]e to fraud. As 8 ￿Su[l of1he5e procedureswe cC￿S1derthe most spJnfftant laws and rÈgvl8tions that havg a dlrect impact on the financkal sl*•ments arè FRS 1￿2. Charitiès SORP (FRS 102). Companiès Act 2006, Charities Act2011, the parentcharitable company's governing document. lax legislation. We performed audit procedures to d¢toct n¢y￿CoMpliar￿ wh￿h ffAy have a material impact on Ihe flnanclal statemen15 which included revieMTrJ the financial slater￿ts indudin9 Ihe Diredors. Report. and rernaining alert to any new ty unusuJ transact￿$whIch may ry)t be in accordancewthh the goveming documtnts. The rn0s1 slgnlfjcanl lavoE arKI regulalh)n5 ihal have ￿ Indirect impact on ffinancAI slatements a The Education (Indepèndènt Sdxxjl Slandards) Regulatrons 2014. KeeFiro Chldren Safe in Education under section 175 of the Education Act 2rM)2. and the UK Ge￿al Oata Protection RegUlat￿n ILIK GDPRI. W* perfomed audit procedwgs to Inquire of managementand those charged with governance vthether tho chwotable wmpany ts in ¢ompl8nce Tprfl law arml regulalions and Insped8d correspondence wrfh ￿gulatOry au1￿xi￿e$. The group audit erwen*nl team tdentffied Ihe iisk of management overrKle of ¢￿trOlS as Ihe areas ¥vhere the ￿n￿￿lar statements were mst susceptible to material misstatemènt duè to fraLtrg. Aud procedu￿$ performed inluded but were not bmited to testing manual purnal entrie5 other adjustments, evalLtating the t￿sInesS rationale in relation to any sign￿leanI, unusual transactions or transactions enterad into outshje the normal eoursè af b￿sIneSS. and th￿lenging judgments and gstimat8s. A further descdpoon of c4Jr resFthsibiThties for the awjrt ol Ihe fmncol statements is w0￿ded on the Financial Reporting Cou￿1r$ wgbsite at httpJAv•M.fr¢.org.uklaLKlitorsre5ponsibiltie5. Ttris do$￿ption fomis part of our auditc (10,706,839) (T.078.851) NET CURRENT LIABILMES (5.548,6481 15.021.516> 15.525.216) (4,902,508) TOTAL ASSETS LESS CURREMT UABILMES LONG TERM LIABILMES Creditors payable after one y 13.148.355 12.742.ec 13,154.795 12.819.600 18 (3.931,698) {4.258.654} 13.931.6981 {4,258,6541 NET ASSETS 9,216.657 8.484.146 9,223.097 8.560.946 REPRESENTED BY: CALLED UP SHARE CAPITAL 100 100 100 ENDOWED FUNOS RESTRICTED FUNDS UNRESTRICTED FUNDS Ganaral 25 25 254.964 344.333 254. 458,710 254.964 344.333 254,964 458.710 25 8.617260 7.770.372 8.623.700 7.847,172 9.21&6S7 8.484.146 9,223,097 8.560.946 The financial ststements were approved and aUt1K￿ed for issue by the Board 7th December 2023 and signed on lis behalf ty.. L L•wls4on cH￿RmAN Company registratK¥) number 03779976 The notes on pages 26 to 48 fomi wt ofthese financ4al ststements. BLOXHAM SCHOOL LIMrrED CONSOLIDATED CASH FLOW STATEMENT AS AT31ST AUGUST2023 2023 2022 Notes Cash Ik¥ws from operatlng acil¥ltles: Net cash provlded by operating activftles 1470 741 Ca$h Ilows from Ihve$ting activities". Dividends. interest and rent$ from knvestments Pr￿eedS from Ihe $a]e of propety, pfanl arKrf equlpff*nl Purthas¢ ¢f property, plant and equiprnenl Net cash us•d In Investlng adlvltle$ C•$h thows from finan¢ing activities: Repayments oltx)rrowlng Repayment offirtance lease5 Cash inflcms ftom new borrowings New fina￿e leases Fin8n¢rKJ o)sts Ngt cash used Inlprovlded by flnan¢kng acllvltl8$ 15,037 16.792 11.899,753) {1,867.924) 1,672 2.000 (3.276,5601 (3,272.888) (256.058) 146.001) 2Sg,000 173,024 (2B9,1631 I1￿.198) {84.988} {28.5221 1.210.000 1183.789} 912.701 Change In ¢a$h and cash equivalent$ kn the y•ar 176.702 <889.4461 Cash and eash equivalents * the Iwinnlng of the y• 1.613,886 2.503.332 C•sh and cash •qulval•nts •t th¢ end oflh• year 1.790.S88 1.613.886 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST 2023 I. ACCOUN71NG POLICIES The prin¢rpal accounting O￿les. al ol whrh have been appw ¢onststenty Ihrou4¥Jut the year and the preceding year a￿. a) Ba$1$ Qf a¢¢ounting The a¢ccAJnts ofthe Gr￿p have been prepared urdertre CoMpan￿S 2006 and in accordance th the Stat9rn9ntof R8¢0mmendod Prac*ic8 forCh•ities I'SORP IFRS1021'1 andwilhapplicable UK Accounting Standards. The accounts a￿ drawn up on the historical cost accounting basis except that propety and share knvestm￿lS held as fLxed assets are carried at fair value. eloxham Sehwl Limited meets Ihe definitton of a publ¢ benefit entity under Financial Reporting Standard IFRS) 102. Assets aThJ Ikabiliiies are recogni5ed at historical cosl or transaction vlue unless otherw(se slated in Ihe relevant accounting policy rntes. The preparat￿n of financial statemenls in ￿nIornIty vth FRS 102 {eq￿reS managemertllo make judgernents. estimates and assuryttons that affect Ihe oppli¢ation of poliues and reported amounts of assets and IHbAities, irthme and expenses. The estimales and associated assumptions are based on htstortal experience and various other factU5 that are believed to b reasonable undèr the cir¢uMsla￿$, thè wsulis of which fomi the basi% of rnaknng theludgemenls atjoul carryin9 values of assets and liabilitres that are not readily apporent from other sources. Adual ￿SuIts may drffer from these estimates. Further delails ￿e provided in ntsle 34. and in the accounting policies for deprecIat￿n ol fixed assets. for pensvJns and for bad debts. The financral statements a￿ presented in sierf1￿ {£) and rOu￿*d to the ￿are51 £ and the fvndional rurrency 1$ sterfing l£}. b> Golng concern The accounts have been p￿pared on a ￿Ing concÈrn basis. Th8 Council reviews Ihe financial infomiatKJn for the Group and Company and considers whether the Group and Company are o goirKJ ￿nCeM for a per￿ of at leasl tsvelve monlhs from the date ofapproval of the accounts. Having cons¢dered all tdclors and reviewing the awlable evidence. the dlrector5 have a reasonable exF*Ctation that tho group ￿11 b9 abje to Con￿ye operatirg for Ihe foreseeabb future and the financial $laternen15 ho￿ be8n prepared on a gc¥rrfJ c(rfKem baws. cl Group ac¢ounts Thefinandal ststomwts ¢onsolidalèthe ffinancial statements ofthe Compary. and all its subsidiary comp8nEs. charitable trusts and lund$ th all inler-cornpany balances beiThJ elirninaled. Entities are consolidaled where Bloxham SChth￿ ￿MIl&￿ exer(ises overath controf either thrDugh ownership of Shares. or thTouth having common tAS￿S vAth a commn obiec(ive. A¢countlng polldes are conslstentty aP￿￿d beiween group companles. dl School f••s r•e•l¥abl• and slmilar Income Fees recgivable and other edu¢8tr)nal ino)m* we accounted for in ts per￿ in whid) th¢ sèwvica is provided. Fees receNaNe are stated after deducb.ng allowartts. scholarslips And otheT remissions by the School, butindude contribut*)ns receive(S from restricled funds frjr scholarships. bursaries and other grants. Fee5 in Advance S¢trwne are those fees received in advance of educatnn to be Provid￿ in futurè years under a Specif￿ contract. The fees are either held as •westments K) Interest beariNJ assets un￿1 taken to income to match lsalx'litses in the tem when used OT refund8d. or they are held the wrestricled reservÈ$ of thè Company. Any suWus of assets over liabilities is hekl within the fund as a bJffer. Debts are fcr if not recovered within one temi. Estirnating amounts to kyomde against le￿WY ofdebts 15 a matter ofjudgement. el Anclllary and non4nelllary trnding Income Ancillarytrading income represents amounts from aclivrties to generate fijnds 4thin the chamtable obJects, for example coaches to and from activth5 and schwl trips. Non-ancillary trading incorne esent5 amounts from adivib.es nol direcuy rèlated tothe tharitable objects. ftsrexample lettin9S of Ihe Company's faalIt￿ out of term bme. Income from these activities is ￿￿￿[sed in th8 StateM￿t of Finanoal Adivth¢S wlw thè gcw)ds are sdd or seNtss provided. BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 D Voluntary source5. 9rants and donations Volunlary 55 acc(￿nted lor as and when ea￿l￿ement ari8e* the amount can rellably be qu￿tif*d ¥nd ts e¢onorni¢ benefft is cM$hJe￿d txobable. Voluntsry income for general purposes is accounted for as vnrestricled and Is credited to Unreslricled Reserve5. Where the dwororan appeal has imposed trust law restrictions. voluntary income i8 credited to the relevant Resthcled Reserye ar￿ Incomi￿ endowments are accounted for as permanent irust capiiJ or eXpe￿lab￿ trust capttal, a¢cordin9 to whèther the donor intends relenlion to ￿ p8mwnent c* no¢. Gifts In kind We valued at estimated open market value al the date ol gift. in the case ofassets fu retentitin or eortsumpts'on. or atthe value lo the school in case of donated servtes or fac41ibes. 91 Expènditure Expendtture is acuved as soon as there 15 a contsxtua1 o￿li9at￿ or a ltrability is cons¢dered probable, discounted to present value for longer terni liabillties. Expenditijre is 8lloc8ted lo experbse headings either a th￿cl cost basis or apF*yti￿8d a¢wrding lo time spent. The irrecoverabte dement of VAT is IndUd￿ with the item of expense lo which it relate5. Bad debts are provided for in acCOrda￿e wilh the Group's bad debt The ¢osl of refurÈ4shing and convening exisb.ng buA(1iNJs ts wiitterpoff n the yew in whith it is incuThed except where ihe us8ful life has been exlended. h) Flnanc• and olher ¢osts Other costs amunts aclyued n 8ct)Jrdm with the tem)s of Fees in Advan￿ Schema Contracts. i) Penslon costs The Company participates ffi the Teachers. Pension Scheme, which i% an unfundod govommenl scheme. The lunds ofthe scheme are sepatate from the Comparry. atthough ihe Cornpany's share ofthe scherne cannot be ￿entIffied as the 5ckne is a nwIt￿eMplOYer scheme. and so the peTh$ion costs are accounted foras defined ojntrbution schernes. The Company o1$0 ¢ontrl>Lrtes to dher defiTh￿ contribution p￿lon scheme5 for 3upport staff as set out in note 27. l? Tangible flxed assets and depreclation In a¢ccrdance ￿th Section 35.10 Id} of FRS102. Bloxham School Linited has elected lo use the carrying value ofany of the above freehc4d land bwklings previously carried al a valuatK)n. as thgr deemed cost at the dats ￿transit￿)n io FRS102. 1 September 2014. Tangible fLxed assets are Sts*d 81 cost less depredatscrt Indiwdual capital ilerns, ￿ projects. wlth a Yalye greater than £10.0￿ are capitaKs&l. Assets in the course of construction are slated at eostless¥nyprovi5ion for IMParrff￿nl TheYa￿ transferred tocLsmpleled assetswhen substantially am ol the aebvlties necessary to get the asset ready lor use are complete. whe￿ approprlate cost kndudes our ovm labour ¢>)5ts in relation to ttjnthiclion. and diredty a￿1b￿tabl8 overheads. whe￿ tsngibk r￿ed assets have been wuired the aid of Spe0f￿ granls, Ihey are included in the baLanee shèèt at¢ost al￿ depreciated over their expected usefijl e￿r￿miG rife. The reL91ed grtnts are credited lo a restrictedfrAed asselfun*J lin Ihe slatementoffinancial aclivi*es and canied forward in the b￿ance sheell. The (*rectatK)n on su¢h assets is ¢horged Sn Ihe slatement of finan¢ial activitbes over the expeGted useful eo)ntin￿ life of the related asset on a basis consistenl th the depreciation policy. BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 Deprechrytson is at rnles c8kulated lo wri¢e off the ¢osL less estpnated residual volue of each assel based on cuThent Ma￿et pri¢es. over ts exp*gJ useful life. as follow5.. Freehold bnd Not deweoaled Variable a¢￿dIng lo the buildiTrJ and written off over the expeeted useful lrfe (seè paragraph belcpAI Variable betr*en 1% and 10% a(￿rdIng to ihe nalure of the Improvement on a slraght Ilna bas Leasehdd imkwovements 20% or rn￿e (bul never kryer Ihan the next break in Ihe lease contrac*) 25% stra¥Jht Sne basis Botrrnan 10% and 25% straight lin8 basi5 Freehold buldtng Freehdd inwovemtrnts Cornputer equipment Pl¥nl and equipment The Company hès revitrNed its tarybi le assets. land, t￿lIdIng$ and Initsal r￿l￿re$ ar¥J fiftings. The Company yndèrtakes an annual feview of all buiklings asseSS￿g their useful economic lrfè. In some cases. the useful e￿noMiC lrfe of a buik*ng anticipated to be of )nslderable length. In excess of 100 years. The trmjildings are capitalised in the financlal statements at hist￿1￿ C051. Where the calculaled depreciatK)n ¢harge a material figure, it 15 charFd in these financid statements tr￿t. whefe the cairying value is not more than the estimated recoverable amount arKI the depreciab'on ¢m the buiK1ing ts not materi4 to Ihese financial $t3lemenls. it has been assessed. but notchar9ed on the basts that li is not material. The Directors 11 continue to cary out anrffljal a55essments of tr)e recoverab￿ 8rntxint and the estimated useful life of all bLHldings and vthere the dep￿ciation is a material value. itwi71 be charged. The review is based on the di1￿￿. assessments of the markèt value armj the future economK benefrt dwrved from an asset versu5 its tsrrying value in the finanual statements. When the Company undertake5 a 5ignffi￿nI refurbFshrr*nl projg¢t that will hav• an economi¢ ben#fit. the cost of the relwbi5hment is Ca￿taliSed. recorded separately under 'Freehold Impmvements.. its useful lrfe 15 estimated arKI it is deprt¢otsd over that usefvl life. Bloxham scho￿ Limited ¢xer¢i%es judgsynent tn seleclion ol aptxopriate rates for depreciation of fixed assets, and for matters of impainnenl. kl Flnanelal Instruments Bbxham S¢hcd Lim¢ted onty has fir￿￿la1 assets and fil￿n¢la1 1h1bil1t￿ of 8 kind that qualify as basic financial instruments. 8a$rcfinanaal instruments are initsally recognised attransaclion value and subsequerrtty rnea5ured at thew setuement value wilh the ex¢eplion bank k)ans which are 5ubsequenlly measured at ￿rtiSed cost usw¥J the effe¢bve Interest method. l) Securities investments Seojrities investmenls arn canied al fair value. ¥*hich is deemed to b8 market Yalue as at the balance sheet date. Realised and unrealised invesbmenl gains losses a￿ recognised a5 "net 9ain5no55es" on investrnenl a55ets in Ihe Staiementof Financaal Activities and are althated to the appropriate fund accordiw of the"ownershlp" olthe underlylng assets. m) Leaslng ¢ammitm•nts Assets held under finan¢e lèases and htre purehasg contraets are eapitalised in the baL7nce sheet and are depreciated over Iheir useful ￿Ve$ or the peric*J of the kne whichever is Ihe short¢r. Th8 lereslelemenlof the oblKJatitsns k% dwryed to the Sl*smentofFinanoal ￿t￿lI￿5 overthe period of the l¢¥se. Renlals applicatle to operatirvJ teaseswhere substants￿lY all ofthe b¢nefrts and risks of ownershp remain wSth the les50r are ￿￿[ged to Ihe Statefflent of Fnancial Activities on a straight.line bass over the lease temi. Lease [r￿enb￿ are a¢¢ounled for over the lease lemi on • Straight-￿ne basis. n> Fund accounts Endowment funds a￿ subject to speofK condib¢)ns by donors that the capital musl be maintain by the Company. Endown*nt lunds are lurther sub4ivided into permanent and expendable, BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST 2023 where required by the terms rrf the trusL Rèstricted funds a￿ subJe¢t lo Sp￿ condit*￿$ ty donor5 as to they. may te used. The purposes and uses of the restricted fvrKts are set wt 23 to the fmarc401 statements. o) Taxation , Bloxham Si*c*Jl knrnited is a rngtster￿ ¢harity and as SLth arg exempt from irmm* tax and CO￿)ratiOn lax under the kyovlsions of Section 478 of the Corporation Tax Act 2010. There is no milar ex8mplion for VAT. wh￿h is ncluded in expenditure or in the cost of assets as approprfale. Thè Company has onè subsKlary c¥)mpany Ihat is Sutty￿ to taxes indudirvJ corporatK)n tsx and VAT in the same way as any ¢ommer¢ial organisation. The tax charged lo the profil and kjss aCC￿nt is bas¢d on the subsidiary ctynpanrfs profitfor Ihe year and tskes into a￿oUn1 tsx arising because of timing differen¢e5 i*￿en the treatrnent of certain items for tax and accounting PLwpose$. The subydiary ¢¢￿panY distribules its profits to Bloknam Schth)l Lffniéed ￿der Grft Ahj ptovided there are surricient dis1nbJta￿e reserves available. BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 2. CHARITABLE AcmviTIES . SCHOOL FEES RECEIVABLE {Company and Group) 2023 sc￿01 fees receivable comjxlse: Gr055 fees L￿$. Totsl scholarships. bwsarie5. slaff and other dkscwnts 15?65,362 11360,766 14.353.977 {2,107.159) I3.004￿6 12.246.818 Scholarships and bursarw were paid 19 229 pupi1512022.. 233 and kntalled £1.349.52512022.. £1.397.7531. 3. CHARrrABLE ACTMTIES- ANCILLARYTrADING INCOhlE {Group) 2123 2022 208.858 242,695 194,426 339,419 145,981 144,088 176,615 281.691 Entran¢e fees 8ThJ registralion fees Pupd trdnsport Sundry other in¢omo 985.398 748.375 3. CHARITABLE ACTIVITIES- ANCILLARYTRADIMG INCOME (Company) 2023 2022 Extras Entraneo fv8s and registravon 188s Pupil transF￿1 Rent fece￿dble aThJ related inDime Sundry other incom& 208.B58 242.695 194,426 136.552 339.419 145.981 144.088 176,615 266.011 303.620 1.121,950 1.036,315 4. OTHER TRADING ACTivrfEs IGrowb) 2023 2022 81oxham Enterprises L#i)tted. tradry k¥nov8r Bloxham Enterprises Limited- renls ￿￿1¥able Olher rbon-anculary tsJlng inc¢)mg 765.664 88,289 225.530 372.523 66.070 664.123 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 4. OTHER TRADING ACTivmES (Company) 2023 2022 Rents receivable Other non-ancillary trading income 88289 40,480 66.OD3 128,769 66,CQ3 5. INCOME FROM INVESTMENTS (Group) 2023 2022 Bank interest 1&025 1,672 other interest 12 15.037 1.672 5. INC0141E FROM INVESTMEMTS (Company) 2023 8ank interest Other Inte￿St 15,025 1.672 67.014 15.025 68,686 6. OTHER- GRANTS AND DONATIOMS.(Groupl UnTe5tri¢ted Restslded Total 2023 Total 2022 Legacies and dcrfwlions 2￿.470 264.025 69.985 6. OTHER- GRAMTS AND DONAnONS (Company) Vnrestrlcled . Restrfcled Endowed Total 2023 Total 2022 Legaaes and donatio Donation from GrLyJp company 3,555 260,470 264.025 69.985 188239 188.239 191,794 2￿.470 452.264 69.985 31 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEMrs YEAR ENDED 31ST AUGUST2023 7. OTHER INCOME {Group} Total 2023 Profit On Sal¢ Of Fixed Assèts. Olher M¢scellanecHJS In￿me 10,565 10.057 20,622 7. OTHER INCOME (Company) Total 2023 Totsl 2021 Profil On Sde Of Fwl Assets 'Other Miscellaneous Income 10,565 10,042 20,607 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL sTATEmE￿rs YEAR ENDED 31ST AUGUST 2023 8. ANALYSIS OF EXPENDfTURE a) Total expenditure (Group) Support costs OepKeciation Total Total (Note 10) (Note 13} 2023 Costs of rajslng funds Non andlary trading Financing cost {Note 9) 166,403 255.584 215.314 25.216 447.203 215.314 471.267 327,410 Totsl cost of rnising funds 166.403 470.898 25.216 662,517 796,677 Charitable expenditur¢ Tea¢hing Welfare Prèmis8 Sthool adrninislration 5,682,180 1242.919 566.D21 1.273.239 6.188.983 2.218.056 2.773.578 2.536.645 10.646 5.863.677 1,610.818 2.859.807 1207,266 14.572 975.137 1.694.361 1.042.029 10.646 513.196 221.3TT Grants awards an¢J piiz Govemar 63.782 63,702 76.027 Educatlon 8.764.359 4292.758 734.573 13.791.690 12,632,167 Total ?xpenditure 8.930.762 4.763.G56 759,789 14,454,2Q7 13.430,844 al Total expendltur• (Company) Slaff costs (Note 101 Totsl Tol costs (Note 14) 2023 2022 Costs of rnising funds Non ancillary IWNig Finandng cost {Note 9) 87.876 87.876 316.666 214.165 214.165 299.701 Total ca$1 of ralslng fund$ 302.041 302.041 616,367 Charitable •xp•nditure Teaching Welfare Premises S¢hool admlntstra￿n 5,682,180 1242.919 .021 1273239 s￿.803 975.137 1.691.997 1.034.320 10.646 188,983 1218,056 1771.214 1528,936 10,646 5.759.988 1.612,250 2.746.091 1793,145 14,$72 513.196 221.377 Grants award5 and prizes Governance 63.782 63.782 64.211 Educatlon 8.764,359 4282.685 734,573 13.781.617 IZ990.257 Total expendSture 8,764.359 4.584.726 734.573 14.083.658 13,606.624 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31STAUGUST2023 b) Totsl •xponditur• includgs: 2023 2022 RemuneraiK)n pawj to Auditor ts ￿dit services Current ye Prior year 45.000 30.OC(J 63.516 64.897 Depreciation of tsngible fixed assets". . owned by Ihe Charitable CcYnp•w - hekd under finants leases and hi￿ (onlracls Operating tease rentaLs'. land and buildings - other a55ets Relmbursement ofQLrt￿VXkeI eX￿Se5 lo Diredors 714.087 45.702 634.074 69.391 140.202 26 132,675 Vlhere a clalm Is made. the Company reimtsjtses Llre¢tets for out4￿￿OCket expenses induding travèl. subsistence 8nd acwrnrnodatiorb. Cknln9 the year. one Dire¢tor vos ￿1mbur$•dl2o22.. 01. 9. FINANCING COSTS (Group) 2023 2022 Fees In Advan¢8 debt flnanLing costs Bank char Other firtance rnsls Prowsion f(Y bad and th)ulAhd debts 63.827 12.470 289.163 50.915 22.789 183.789 215,314 327,410 9. FINANCING COSTS (Company) 2023 3)22 Fees ￿ A￿var￿e debt financxw costs Bank charges Other finance cosls Prowsion for bad and d￿bth￿ debts 63,827 10.900 289.163 149.725 214.16S 50.915 19.495 183,789 45,502 299.701 10. STAFF COSTS (Group and Companyj 2023 2022 The aggregate payrull costs forthe year wwe.. Wages and salaries Swial security costs Other pension costs ivate methal irwan 7238,099 763,395 903,857 25,411 6,393.641 667.046 853,056 21.792 8.930.762 7,935,535 2023 2022 Induded in staff costs were redundanGy terminalron payments 30.000 42.214 The Head. Bursor and the Ihree Dewty He•d$ •re ¢bssed ty the $¢hwl as beSng the Key BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEHrs YEAR ENDED 31ST AUGUST 2023 Managefflert Pets￿￿e1. The aggregate emrloyee ben&fjts of key rrMnagerr*nt P￿￿)n￿ were 85 fdlow& 2023 2022 Aggregate employee beneffits eMpknYe￿. pension atyj national insurarts olfwe key management personnel. Other benefits induding company cai. wivate health insurance, dix¥)unls on th8 School's fees, rethxed rentsts on Il* Cornpan￿S wrperties aTh deaning are pn)vrded 803.719 719, The number of hKJh*r paid ¢mployees wthose ar￿Ual eThKAuments We￿ £60.CIJO or mre wa& 2023 2022 £60.(K11- £70.L￿O £70,001- £80,000 £90,001- £100.000 £101.CQO-£110.C £150.0)1- £160,0 £200,IX11- Q10.&Y) The number of higher paid em￿oYeeS wilh r8lirement t￿efits acuuing: - in DPr￿8￿ Contrlbuth)n schemes was Of wh￿h the contributions anK)unted to - in Defmed Benefft schemes VAS Olwh¢h the contributions affKwnled to £2.009 13 £253.121 £4.847 £152.924 Th& average number of ernployees durirbj the year ¢akulaled on a head ctyJnt ￿1$ was.. 2023 No 2022 No Teachw Supp¢)rt 123 134 119 110 257 229 11. DIRECTORS None12022: none} ofthe Directcffs charged the group for finanaal semces provided in relation to year ended 2023. None of the ￿1￿clOrS (or any Fwsons eonneded with ilwn)12022: none) recetved any muneralion dursng the year. See note 33 f(x detsils of othw reLited party transactions. Dis¢oLmts totalliry £149.236 were awwded lo ¢hibdren of diredors aThJ key management perscnnel attending Blotham Schoc412022: t1WJ.825}. 12. TAXAMON The o)mpany 1$ a r¢gistw¢d charlty and therefore no liablity to taxatton 0rtSgs ￿ its ¢harflab activities. BLOXHAM SCHOOL UMrrED NOTES TO ThE FJNANCiAL STATEMEpirs YEARENDED3qST AUGUST2023 13. TANWLEFIXEDAS8EfS (Gro￿} Ur Cts•t 13.18$ 2.1*.SgB 1247.011 1.714.75t 15351 3.4n t.￿35$ OT&2 1,899.756 Addiffo 74287 91) &IiOJ49 11.4yJ*41 14.4n At31 AU9U¥l￿2I 3JE1218 121W 2J.74101 Al1 se￿￿￿2023 iJei219 541.331 21&035 I.￿.7 89(731 173mS IioJ3091 4a7111 3.730) 455,518 116,421 Aly1 Aw¥tZQ2¥ 916JZO t7T4JJ4 T1J.g11 S.¥W.539 N•¢bwk¥alw¥Ji Aug￿12 N•1bott*￿bJR 47JSt 7.74J.17* 7UJS 1.1172B4 514.DSll fl.434,S* 12.3ZrfJOI 1.641.933 1.714. 1.(81.556 1T,504.475 BLOXHAM SCHOOL Um￿ED NOTES TO THE FINANCIAL STATEIIENTS YEARENDED 31ST AUGUST2023 14. T14MCIBLEFIXED*¥8Ef¥i¢¢wrf Tatsl 14011JID 1120J30 1247m1 1.714? 1S351 I4311￿ 1mJ5S 21.95F.$44 1.899.7S6 287 91. Tr￿lf0￿j 13xe.7401 21 14.478 At31 W2073 3zz 21.141 7$ YZth.7S% 1211 23.6t•J I Sep*h*w> CtrAryefoTthpTr 2J51. 1.331 IA￿27* 669J15 1nm5 A4uSbYthto 101.378 1103&tt91 343 20.514 118.42U Trdnsfw6 rn7JDI 1.751 31 *28.$59 N•tbockv4lu•4t31 Auywt2013 7.14J.17Y •J5 sr{050 14.417.S71 31 P¥ust2022 11242 1.841.933 1.714.75D S32.024 17.4e22 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 15. SECURrriES INVESTMENTS 2023 2022 Grovp investments At 1 September 259.840 Unreali$ed.Ilossesygains on Iwestmenls 2.598 15.018) Group Investmènts at 31 Au9U$t 2023 261438 259.840 Inv¢slmenl n subsidiaiies Company Investments at 31 August 2023 262.440 259.843 Investments comprfse: 2023 2022 Llsted Inveslrntrnts Equrbes 247,895 223.986 Unlisled Investments Land buildings Cash 7059 6.684 12.021 23.833 Group Inv•skn•nts at 31 August 2023 262.438 259.840 Investment In subsidwries Company Investments at 31 August 2023 262.440 259.843 The man securittes investments are managed for Bloxham Sthool Limited by CCLA Fund Man￿r Limiled. All investrnents are managed and held in the UK Hcthlings at the year-end comprising rnOTe than 5% of the total are: 2023 2022 COIF Charitses Investrnent Fund 261.091 258.493 Bkjxham Schoc4 Limhed owrts all the share capita d Bloxham EnteTFThes Lim*ed, a ojmpany kn¢orporated in Englandlwales. Further detals are provided in note 31. In additK)n to the abjve investments. cash balancesv•ithwi the Fees In Advance Scheme 8*e Included in ajrrenl assets as cash deposits. BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 16. DEBTORS Group Company 2023 2022 2023 2022 School fees Teceivable Tiade debtors Other debtors Prepayments and acc￿ed income Amounts due netfrom subsKIi*y companies 3.089.701 15,810 12.998 164.556 53284 242.030 3.089.701 12,998 15.603 240,756 303.009 299,643 104.85 3.405213 472.868 3.494261 572.366 17. CREDThORS: amounts falling withln one year Group Company 2023 2023 2022 2022 Bank loans and overdrafts {note 19) Trade creditors Taxation an¢J sr*ial seojrity Olh•r ¢rediior5 Corp￿alian tsx uedrtor Accnjas 3.257.552 397,293 192.104 215.803 3.(MA.058 535,379 161.183 163.59T 1.000 105,322 3,257.$52 367.989 184.151 215,452 3.006,058 508.159 161.183 162.397 189.905 189.905 105.322 Deferred ￿0Th. Fees In Advance Scheme (note 20) Fees in advart8 of the lerm Defefred income Deposits from parents 1.359.721 1.291,939 1.X13.580 1,359.721 7291,939 1,303.580 4.496.307 63S.764 4,496.307 635.764 540,212 540,212 10.744.449 7.108270 10.706.841 7.078.850 18. CREOITORS.. amounts falling du• after one year IGroup and Company) 2023 2022 Bank k)ans and overthafts Inole 19) Ottrw loan5 Fees in Adwance Scheme {nole 20) Firkance leases 2.101,402 309.000 1 J48.570 172,727 2.358.953 300.000 1.509.279 90,422 3￿31,698 4.258.654 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST 2023 19. BANK LOANS (Group and Companyl 2023 2022 Tho bank loans are ￿parabl• li Instalrnents as fd¢yws: Due within 2 to 6 years Due wrthin 1 to 2 yea Amounts falfvJ due after one 1.842.130 259 272 2,101.402 2.101,402 257.551 2.358.953 Afflounts faI￿n9 due vlmin y 3257.552 3.008,058 5.358.954 5.635.011 Bloyham School has a Rdlry Credl Faolity of up to £3.0(LI.OCKJ in pbce 8arthy5 Bank Plc. The facility ts secured by ¢harge5 on the Conpany's assets and is a fve-year facility lerrninating in July 2024. The RC4￿n9 Credit F•¢ility allows for flexible drawdown of funds with maturity rtrJJrring three, six. nine or twelve monlhs aftw drawdown. The interest rate charged on each drawdown is th8 Barclays Bank base ratè plLTrS a fixed margin of 1.95%. A term loan of £2.000.000 was takén out on r2 Apnl 2021. This is a five-year temi loan with repayThents of £18.518.52 starting in May 2022 and a balan¢ing bullet payment in April 2026. The interest rate ￿ fNed at 3.2% over the term of Ihe loan. Bloxtham S¢hool took otrt a ba￿ hJan of £700.LKJQ in 2022 to furKI the purcha* of a propety. This 1$ 8 fNe-yeaT lenn k)an. wrth a 15 year repayinent woffile. with repayments of £5.375 slarting in May 2022 and a balonc¥w ￿llet payment in April 2027. The interest rate fixed at 4.55% over the term of tht loan. The S¢￿?01 borrowed £300.000 frc¥n the Rayfflw￿ Trust in Marth 2022. with a Toan term not ttxceedrr¥J 20 years. vnth a 5 year repaymertt hofiday, with r8P8yrnonts from y8ar6 of at ￿$1 11yoars remaining on the han. of the svm outstandtng at the stsrt of the year. The first 12 Th¥￿th of inleresl was added lo tr* March 2023. The Krterest rate Is fixed at 3.0% for the next 5 years. 20. FEES IN ADVANCE SCHEME Parents and guardian may enter a crntract to pay for f￿•d c£￿tribUtionS toward5 pupll tuitson lee5for a number ofyears in advance. The fees pa*J in advance may be reknmed. subjectto speclfie ¢onditi¢)ns. on the receipt of notbce. Assuming thal the pupls remain in Ihe Schcol. fees in &Jvance will be appliod to as follows". Group and CoThpany 2023 2022 After S years Within 2 10 5 yea Within 1 to 2 years Amowits tolling due after one year ounts falllng du¢ wtlhin year 205.869 608.811 81.145 797,255 630 879 1,509,279 1.291.939 1.348.570 1.359.721 1708.291 2.801.218 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEiirs YEAR ENDED 31ST AUGUST 2023 20. FEES IN ADVANCE SCHEME (Mntinu¢d) Summary of movement In liability (Gn>up and Comp•nyl 2023 2022 B￿afice at 1 Sep￿ber 2022 New contracts for Fees Repayments of Fees in Athance Amounts used to pay the S¢hty)I's tees Balanc• at 31 August 2023 2.801.218 1.4>3.880 (128.571} q1,4¥2361 1708.291 2.494.345 1.406.133 (20,934) (1.078,326} 2.801.218 21. COMlalTMENTS UNDER OPERATING LEASES The future M￿lmuM commilments ￿￿er non-can¢ellable cswab.ry leases are.. 2023 2022 Wilhln 1 year Within 2 to S years 119.776 54,254 125.577 142,929 17<030 268.506 22. SHARE CAPITAL 2023 2022 Authorised 100 Ordnary Shares ofE1 each 100 100 Allotted, call•d up and fully pald 100 Ordinary Shares of £1 each 100 100 23. FUNDS The funds of Bloxham School Limited arE ¥naly5ed underthe headings: a) ENDOWED FUNDS Egerton Soclety Endowment Fund Thg Egert(M Sodety was eStatl￿hed kn 2011 and"Is almed ai enc4Juraglng Ihtsse wtth dose Ilnks to "the School to commit a legacy in thwrwi11s. A Testsided Bkjxham Sthod Bursarias Endowrnw￿ Fund was ¢sta￿lShed with the aim of the capital sum being weserved to provide funding for bursaries. Expendabl• Endowment In 2022 the fund was estsbli$hed in othto suppcKtthe School's objectives of enablry a broad base of enty inlo the school and provhjing Ihe opwrtunity io choldien from families who I￿)Uld olherwise notbe able lo afford the fees10 o¢ce55 the edU￿tion we offer. 8yen•bling dt￿)a￿￿$ to beeMpend¢d to support bursaries. the fund Fyovtded 9ieater fflex*ilty: donath)ns made into Ihe furMI are done so th the aLthority ol the donor. The fund has been tnvesled in Ihe CCLA account. 41 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 b) RESTRICTED FUNDS The Nig•1 Hallp￿nY Fund This fund was established by a wevious Bursar at the Sthool and ￿presents the cumulatNe donations ol credtt balances and deposits by parents of pupils Ihat have left the Sthoc*l. The Arthur Dl$n¢y Fund A donation v4a5 rnad8 for thg care and dev8Wngrt of trees M the slte of Bloxham Sthool. The fvnds are restricted fc¥ this purpose. Southem Woodard Divtslon The ¢lo$ure ol the Scyjthem Woodard D￿slOn wowlded an knit1￿ donal*Jn of £302.073 to Ihe Company to be used for improving s$>￿1 molility of the SchJ(A's pupils. Erasmus Grant The Company was awa￿ed a grant by the British Counol Irorn EU fun¢fing to aNow the Schoof5 Modern Foreign Languages teachers to attend language courses. These cryJrses were delayed due to the Coronavirus pandernic. However, in 2022123. the £6.000 was repa￿￿ lo thg Biilrsh Council and the balan¢e was SFent in line wtth ￿ orvJinal purt*)se. Restrlcted fvnd In 202zr23 a legacy was recthd. th8 use rf whkh vras r8strttad to bul￿ng development. The funds hav8 been riffjlenced unll 8 ￿￿(able IxHlding project has been IdÈntifi&Y. Bloxham Bursary Fund This fund was established tn 20221rJ lo SU￿ort the wovlslon of transfcymatimal Bursarns at S¢1￿01. Hardship fund This fvnd was set up dwing thtr 2019RO financial year to ensure that Ihe Schrx)fs pupiL%' eduGatson wdl not be negatNety impacted by the c￿n￿r￿S pan*Jem￿. Son￿ the end of the pa￿mI¢, the fund is boing used IQ 5UPPOrt sbjdents whose famifies la￿ unexpected finarrial h•rdship. Pittaway Muslc Fund The fund wa$ set up wth a legacy to erobb pupi15 ￿ rece4Ptof bursarigs to pursutr their pa$*on for musiG ¢1 UNRESTRICTED FVNDS Unrestricted funds represent accumulated income from the Company's activities av¥J other sources and are available l¢y the gener81 purws of th$ Group and the Compony. BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEprrs .YEAR ENDED 31ST AUGUST 2023 24. ANALYSIS OF NEf ASSETS BETWEEN FUNDS Total 2023 Total 2022 Group Unr•stslct*d R¢slrf¢led Endo**d Tongit4e ffixed assets . 18.434.565 14434,565 17.504.474 "se￿ri￿e5 in￿lI1￿1S 7.474 259.841 Net ¢urr8nt Iiiabli itie5yassets 15.8¥2.981J 1S.548.648 45.Ir21515) L￿9 temi liabl￿tieS I3.931,￿8) (3.931.698) {4.258,654} 8.617.360 254.964 •,216￿57 .484.146 To 2023 Totsl 2022 Cornpany Tangib￿ fix•d assets 18,417.571 la.417￿71 17.462.264 Sacudlles Iwweslmerfs 7.476 262.440 259.844 N&t current QkqbiliUe5yasse15 {5.869549) {5.525,216J 14902.508) Long terrn kabilities (3,931.698) 14931.69BI 14.258.654) 8.6rJ.8 9323.097 8.560,946 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 25. SUMMARY OF MOVEMENTS ON FUNDS IGroupJ G3insl At 31 Aug kneom• Expénditurn TtanGl•r Ilos$•sl 2023 Endowed E98rtcffj 5ockty ExpendaNe Endo%Thnt 244.964 244,964 10,000 10.0 Total Endowmont 24964 254.964 Restrl¢ted Fund5 Nigel H4fpenny Fur Arthur Oisney Fw Southem Wtsjda 41.726 141.726} {1.8481 (268.893) t10.837) 69.104 288.693 67.256 Erasfflus Grant 10.837 Re$trict8d F￿d 2.500 Bloxharn BU￿ary Fund Haff15hlp Fu pittawoy Mux Fsm¢t 250,000 41458 7.970 (50.118) {1.42S) 1.31fl 24.6 23.267 154710 7.770.472 26•.470 1374.847) 1&28S.812 (14.441.522) 3MJ33 Gener￿ reseNes 2.S98 8.617J60 Total Funds .8.484.146 15.Y6.282 114816.3691 2.$98 9,216ffiS7 25. SUMMARY OF PAOVEMENTS ON FUNDS {Company) At 1 Sept 2022 Gainsl Incorne Exp¢ndl1u￿ Tr•nsl•T Ooss*s) At 31 Aug 2023 EThdow8d Eg•rton Sodety Expendable EThlefi¥ment 244. 244.964 10.000 10.000 Total Endowm•nt 254J64 254.9fj4 Rgstrlcted Funds Nigel H4fperny Fw Athur Disney Fwd Southern Woodard 41.726 {41.7261 11.8481 12fy8.8931 110.837) 69.104 67256 268.893 Erasmus Grant 10.837 Reslrict8d FLmd 2,500 260.000 Blotham bJrsary Fund Hardshp Fund P￿a￿VaV FLmd 250.(tsJ 43,458 7.970 {Xl.1181 {1.4251 1.310 24.692 23,267 458.710 260.4ni {374.847) 14844903 114070,9731 General reseThfes TM47372 2.598 8.623.100 Totsl F4nds 8¥0,916 15.1(6.373 114445,8201 2,598 9.223.097 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEpirs YEAR ENDED 31ST AUGUST 2023 26. CAprrAL COMMITMENTS At 31 August 2023, th8 Gr￿P had Wl c(￿mIlments a5 ftlmows: 2023 2022 ExFenditure C￿tracted for but Mt provmled in the ac%ounts 30.882 970.476 27. PENSION SCHEMES Teachers, Pension Schgme The Company partic¥￿teS in the Teathers, Pengon S¢hem8 fthe TPS") kn tts leachrvJ staff. The pensim Charge for the year inckjdes Mnti1but￿S payable to the TPS of £783.649 {2022.. £1.065.981) and at th• ygar4nd £90.78312022." £88227) was accrued in rospect of contributions to this s¢heme. The TPS rs an ￿fUnded multiempknyer defned benefts pertsion scherne goVe￿d by The Teachers. Pensions Re9uLatft)ns 2010 (as amended} and The Teachers. Pensic*n Scheme Regulatbns 2014 {as amended). Mernbers ￿ntrIbute on a'pay as you go" basi5 with ￿ntribUtiOnS members and the empbyer beiro cJedited to the Exchequer. Retirement and other pension benefits #o paid by putli¢ funds by ParfiamenL The &*ool has accounted for its contrftJution5 to the scheme as rf it were a defined contribuiion stheme. The Govemment Actuary. using nomial acluarial princ4p￿. corK1ucts a formaf acbjarial review of the TPS in a¢¢¢rdan¢e 7Mth the Pubtic SerV￿e Perwons Naluations and Employer Cost Cap} Direclions 2023 published by HM Treasury every 4 years. The aim of the revw is to specify the levd of fvlure ¢ontn"bub"ons. Aduartal $¢*em• v￿ationS are dependent on assumptions about the va￿e offulure costs, design of beneffts and many other Trdctors. The latest actuarial valu8tion ofthe TPS was Carried OLrt as al 31 March 2020 in accordance wtth The Publie Service Pensions {Valuab"o￿ and Empbyer Cost Capl Direth"ons 2023 and the Empkiyer ContribUt￿n Rate was a5ses5ed using agreed assumptions in line wth the Directhxts and was accepted al the original assessed rale as there wa5 ¢ost ¢ontrc4 mechanism breach. The valuation report wa$ pubfished by the Dep&tr*nt for Education on 26 October 2023. The key elernents of the valuatkin are". Total stherne liabilitses seNice (the capitJ sum needed al 31 March 2020 to meet the stream ol future ¢ash llc*As in respect ol beneffts eamed) of £262 billitsn Value of notional asset5 (estimated future o)nlributions togethw wth the proceed5 from the notional invesknents held at the valuat#￿ dale) of £222 billlon Nobonal past se￿Ice deficit of £39.8 billion12016 £22 billion) Discount rate 15 1.7% in excess of CPI {2016 2.4% in excess ol CPI) (thi5 changè has had the greatest f￿an￿al svJnrfKance) As a result oflhe valuation. new employer Contribut*￿ rate5 have been setat28.6% ofpensionable pay from 1 April 2024 unb"131 March 2027 {compared to 23.68% under P￿¥￿￿$ valuatir)n hiduding a 0.08% administration lèvy). Th• Scottlsh Wldows Group P•rsonal Ponslon Plan The Scotti%h WKlows Group PetsLMal Pension Plan is a contrilxrtory offe￿d to support stsff wh1¢* Is used as the CoThyany's xhemeforau¢o-enrolment. The Coryanypaid contribLrtions at the rate of 3% ￿ 5% during the year. Members pa•J variabk ￿ntributiOnS from the minimum rate of 5%. As al the balance sheet date. there were 137 active Mefflbe￿ ofthe plan employed by Ihe Company. The pen$k)n cost to the Cornpary was £100,T6812021' £194.2341. As al Ihe year end. £24.464 {2022". £16.213) was accrued in re5F*rt of contrilwtKJns to this scheme. Nalion*l Employment Savlngs Trust Plan The National Employmenl Savings Tnst Plan is a contrbutory Scheme offer*J to support $tslf. Tho Company paid conlribut*)ns at the rate of 3% during the year. Members contribubons at the rate of 5%. As al the balance sPttt d*e. there were 51 active members ofthe plan employed by Ihe Company. Tho pension cost the c￿ary was £18.57412022: £38,375). As ot yèar eThJ. £3.823 {2022: £3.2541 was accrued in respect of contributions lo this schem8. BLOXHAM SCHOOL LIMrrED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 PENSION SCHEMES {con¢inued) Nati•n¥l Farmers Unlon Plan The Nafional Farme￿ Union Ptan is a contributory xheme offered lo stsff. The Corypany paid ¢ontributy"ons atthe rate of 8% thrring Ihe year. Members paKI ¢ontritxJtKJns at the rate of 22Yo. As al the balance shaet d*e, there was one a¢tive momber ofthe p￿n empfoyed by the Company. The pension cost the Company was £86712022: £3,199k As at year end, £26712022: £267) was accrued in ￿SpeCt ￿ conlributions to thi5 stheme. 28. NET DEBT RECONCLIATION Balan¢¢ as at 1 September Repayment of bank loan New borrowings tsken 5,665,012 (256,0581 259.000 Bal¥n¢è •s at 31 August 2023 5,667,954 29. RECONCILIATION OF NET CASH PROVIDED BY OPERATIONS 2023 2022 Nèt incomelfexpenditurt) forthe ptriod (as wthe Ststem•nt of Flnanclal ActMttes> 732,511 295.111 Adjustments for Depreaa15on charges Losses on disposal of assets Lossesl{gains) on investrnents Dmdends, inlwest rents frcrfn inveslments Financing costs Decreaselllnueasèl in debtors {OecreasePlnc¥ease in ¢Jeditors 759.790 193.085 {2,598) {15,037) 289.163 {1931345} 3,179,255 703,466 173,999 5,018 11.6721 183.789 421,642 1310.6121 N•t eash piovid•d by operatlng activli*s 2,203I24 1,470.741 30. ANALYSIS OF CASH AND CASH EQUIVALENTS 2023 2022 Cash In harKI ar*J at 1,790.588 1,613,886 Totsl ￿5h and ￿5h equ1Va￿￿ts 1.790,S88 1.613,886 31. SVBSIDIARIE5 The Company ovms all the share capitsl of Bloxham Entertrys Lmntied. 8 cwpany i￿orpOrated in EThJland Icompany numb¢r. 02095047}. This ¢tynpany lets out Ihe premises and fa¢iliti?$ of 8loxham Sth>Jl Limited as well a5 opwab.ng a &ifé In Bloxham vilw. 8bxham Enlerprises Limfted had a tumover of £765.70012022." £788.699) arxl a surplus before tax of £259.874 In the year end¢d 31 August 2023 (2022.. loss of £86.931). Blo*ham Enterprises Limited makes a grfi atd Isldbutlon to Bk)xham Schc(4.' in 2022r23, it dtstht*Jted £188.239 to Bloxham sch￿1. As at 31 AugLtst 2023. the company negative Share￿er'S fu¥Js cl £6.437 (2022: negth've £78.0721. BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS YEARENDED31STAUGUST2023 The Cornpany owned the Share capilal of Bjoxharn Sthool Lbrwy Services ￿rntted {Company nurnber. 05174043). vras disso]ved on 29th ￿￿ust 2023. 32. ULTIMATE CONTROLLING PART The Woodard tsporation is the ulb.male Controlling p8ty. a re9tster8d charrty nurnber 1096270. which is incorporated in England and wa￿S. Coples of the finar￿￿4 Statements of The Woodard CO￿￿rat1￿ ean be obtained frcrfYJ HwJh Street. Abtr•)ts 8romley. Rugeley, Staffordshwe. WS15 3BW. Th¢ acuunts of Bloxham School ￿rnIted are ￿dUded Mthin the consolidated finanrial stslements ofThe Wocthrd Cryation. 33. RELATEO PARTIES As noted on page 2. Bloxham School Limited is ¥ wholty owned subsidiary of The Woodard co￿orau0n. An amounl of £81900 {2022: £62.353) was patd durkn9 the year to The Woodard Corptsr¥tK)n by way of 8 fevy to rneet runrrity Costs. The Company also controL8 a subsijiary trading o)mpany. Bl)xham EnterFYlses Llmited {re9Stered n￿lber 20950471. Durirnj the year, the Company used theservices ofspratt Endkott SolKitrys1£976' 2022.. £0). On of our GOvern￿S is a diredor of Spratt Endicott Sol￿t0{s. Details of transactions with Direclor5 and Key Management Personnel (and their family members and transactions companies cr*ned by Directors and their larnity or in whith Dire¢Xors have an interest) ara indud¢d in noto$ 10 aryl 11. 34. ACCOUNTING ESTIMATES AND JUDGEMETr¥rs In preparing thefirwcial slatements. the Di¥￿t013 a￿ required to make ests"mates andjudgenpnls. The matters detailed bek)w are the most Importanl in understarxling the judgements that are involved in prepariryj the financÉal Statements and the uncert&nties that could wnpaca the amounts reported in the resuts of operat•)ns. finanrAal position and cashfkyws. AC￿Un￿.rtg policies are shown at note 1 to Ihg fin8noal slatemants. Pmvision forbad dèbts Debts a￿ piovided for it not ￿e0Vered wlthin one term. Estimatirvj aThwnts to provhje agalnst recovery of debts Js a matter of judgemenL Depreclai?M, impalmwnt 8ndreshiu* ¥al￿S Offix￿aSS0ts Judgement is exercised in estimaltng Ihe resM1ual ¥￿Ve5 of f￿e￿ assets, setection ol appropriat• Yales fvr dgprecialion. and Sy matlers of inpaim18nL 47 BLOXHAM SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31ST AUGUST 2023 35. Con¥olldated Stslement Of Flnanclal A¢tiYiti*s- Compar•ll¥¥ figur¢$ by lund typ• Y•ar•ndèd 31 August 2022 Unr•stricf•d Funds R•strlcted Funds Endowed Funds Tolal 2022 Inc•rne and end￿8ftts Irgrn- Charfjtoble Act5vllre5 School fees re¢eivaUe Amcillary trathThJ inco Other trading athilie$ Non-an(￿larytradtt￿ Income Investrnents Bank and other1r￿est Other- Grants and donatlons Granls and dL￿a￿Or¢S Other ir*G•me 12.246.618 748,375 12246.818 748,375 664.123 664,123 1,fj72 1.672 764 542 15.OLKJ 69M85 TOTAL INCOME 13.661.752 54221 15.oc 13,730,973 ExpenolturÈ ¢m'. Raislng funds N￿n-an￿1Iary tra(ling Flnandn9 ¢0Sts Charitablo A¢tivSties Educ41h)n and grant rnak*19 471267 327.410 471.267 32T.410 "12.478.S92 153.VS 12.631167 TOTAL expENDITUAE 13.377269 153.5T5 IJA30.844 N81 gains on inv8strnert èS5eis (5.0181 15.0181 Net inGgmel(exppnthJrnl TRnsler betweenfuTras Net Movem¢ntin fur*J¥ f the year Fund balar¢¢s at 1 Sertemb 379.465 199.354) 1&0 295.111 379.465 (993S4) 15,ffj) 295.111 7,391.Q)7 8.189.035 Fund balan¢•s •t 31 ￿Jgu$t 7.770.472 4Si71• 254.964 8,484.146