Registered Company Number: 01210471 (England and Wales)
Registered Charity Number: 1085930
Re
ort of the Trustees and
Financial Statements for the
ear ended 31Au
ust 2024
Herries Educational Trust Limited

Herries Educational Trust Limited
Contents of the Financial Statements for the Year Ended 31 Au
ust 2024
Page
Administrative Details
Report of the Trustees
2to6
Report of the Independent Auditors
7t09
Statement of Financial Activities
io
Balance Sheet
li
Statement of Cash Flows
12
Notes to the Financial Statements
13to18

Herries Educational Trust Limited
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01210471 {England and Wales)
Registered Charity number
1085930
Registered office
Dean Lane
Cookham Dean
Berkshire
SL6 9BD
Trustees
Ms C. Weaving
Mr R. Buckeridge
Mrs E. Dutton
Ms H. M. Essa
Mr R. Grosse
Mrs A. Malins
Mr M. O'conchuir
Ms K. O'sullivan
Mr C. Proctor
Mr J. Simpson
Mrs A. Turner
Chair
Resigned 26 June 2024
Headteacher
Resigned 17 January 2024
Appointed 2 October 2024
Appointed 4 October 2023
Company Secretary
Mrs B. Felmer
REFERENCE AND ADMINISTRATIVE DETAILS
Auditors
Solicitors
Just Audit & Assurance Ltd
Gardner Leader LLP
37 Market Square Oxon
First Floor, 7 Frascati Way
Witney
Maidenhead
OX28 6RE
SL6 4UY
Bankers
Lloyds
56 High Street
Marlow
Page I

Herries Educational Trust Limited
ort of the Trustees for the Year Ended 31 Au
ust 2024
The Trustee5, who are also directors of the charity for the purposes of the Companies Act 2006, present their
report with the financial statements of the charity for the year ended 31st August 2024. The report has been
prepared in accordance with Part 8 of the Charities Act 2011 and Accounting and Reporting by Charities-
Statement of Recommended Practice applicable to charities preparing their financial statements in
accordance with 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, IFRS102),
effective from accounting periods commencing l January 2015 or later.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its Memorandum and Articles of Association incorporated on l May 1975 as
amended by special resolutions dated 20 November 2000 and 12 February 2001. Herries Educational Trust
Limited is a company limited by guarantee.
Recruitment and appointment of new trustees
The school recruits trustees both from parents of children at the school and from external contacts. Parent
trustees are either co-opted to the Board or appointed by an election process with the electorate being
fellow parents. The external trustees are appointed with regard to the skills that they bring to the board.
Trustees Induction and Training
New trustees undergo an orientation process to brief them on their legal obligations under charity and
company law, the Charity Commission guidance on public benefit, and to inform them of the content of the
Memorandum and Articles of Association. the decision making process, the business plan and recent
performance of the charity. During their induction they meet with members of the senior leadership team,
and they are given a comprehensive range of information and literature, for future reference.
Organisational structure
The trustees determine the general policyof the school. The dayto day management of the school is delegated
to the Head and his/her staff.
Risk management
The Board continues to keep the school's activities under review, particularly with regard to any major risks
that may arise from time to time, and to monitorthe effectiveness of the system of internal control and other
viable means, including insurance cover where appropriate, by which those risks already identified by the
trustees can best be mitigated. The school has closed circuit tv surveillance and an electronic entry system.
The site is covered by a number of cameras and 15 monitored throughout the day by screens situated in the
school's adm inistrative offices.
OBJEcfivES AND ACTIVITIES
Objectives
The main objective of the school is to educate boys and girls aged 2- 11 years at Herries Preparatory School
in Cookham Dean, Berkshire and to prepare pupils for the next stage of their education and to be able to live
as responsible citizens in the modern-day world.
Page 2

Herries Educational Trust Limited
Re
ort of the Trustees for the
ear ended 31 Au
Ust 2024
Mission
Herries School is a non-selective learning community based on Christian principles which welcomes and
provides inclusively for all children. We create an understanding and nurturing environment enabling our
children to find joy in learning. Through academic success, arts and sporting achievements, creativity,
independent thinking, culture and friendship, we prepare each child as a unique individual to live a happy,
bala nced and purposeful life.
Ethos
We believe that feeling at home in a caring environment is essential. Happy children achieve. Small class sizes
allow us to monitor individual development and help children to explore and develop their talents. By placing
personal development at the centre, we nurture and challenge our pupils. Through our careful guidance,
pupils gain the confidence and independence required to achieve and maintain their personal best. In addition
to a challenging curriculum, we encourage our children to explore a wide range of enrichment activities,
including Sports, art, music and drama. We ensure that every child who leaves Herries is well prepared for
senior school.
Aims
We aim to provide an excellent all round education to our children who will:
benefit from a challenging, broad academic education
develop fully their creative, aesthetic, practical, physical, emotional and spiritual qualities and talents
benefit from belonging to a nurturing community where each child is known and cared for
develop respect, empathy, compassion and kindness
develop confident,. well balanced individuals ready to become responsible citizens and leaders, and
able to form strong and enduring relationships with others.
We succeed by preparing each of our children for the next step of their education, supporting their entry to
the secondary school best suited to their individual needs, talents and potential.
Objectives and activities- Public Benefit Statement
The school seeks to fulfil its public benefit obligations by making the property available to the loca
community and participating in local events and supporting a number of charities.
Also, the school has a number of children who are receiving bursaries towards their fees. Each case is
considered on its merits when awarding these bursaries. As funds permit the Board will continue to make
these awards.
Page 3

Herries Educational Trust Limited
Re
ort of the Trustees for the
ear ended 31 Au
ust 2024
Education
This year the school continued its success of previous years, both academically in maths and English, as well
a5 in sport, music, drama and art. Our scores indicate outstanding teaching and learning occurring within the
school. We are proud of our academic achievements and high quality enquiry based learning. Children
passed entrance examinations for the senior schools of their choice, both state and independent. The
assessment results for our pupils continue to show achievement above the national average and in relation
to their personal starting points throughout all the levels and, increasingly, as they move up through the
school. Their success is due to nurturing, a robust approach to learning and the opportunities they
experience from our nursery onwards. The school is fortunate to have at its disposal first clas5, experienced
teaching staff. The trustees and staff are committed to creating an environment that enables children to
learn through enquiry and collaboration; enjoy their education; have individual needs met; individual talents
nurtured and celebrated to maximi5e each child's potential. Our pupils demonstrate improvement in
independent learning habits and personal responsibility.
Independent Schools Inspectorate declared Herries excellent in all areas in March 2022.
Sport
The school has a wide and varied sports and after school activity programme offering kick boxing, fencing,
tag rugby. hockey, football. swimming, netball, tennis, athletics, dance, cross country and a number of
assorted games designed for all ages. We are fortunate to be able to use the excellent local facilities of
Bisham Abbey National Sport Centre, Cookham Dean Cricket Club, Longridge Activity Centre and local
swimming pools. Herries pupils compete in sports fixtures and tournaments against other local and
independent schools.
Buildings
The Board continues to keep the building under review to ensure that the children have the best environment
conducive to enable them to perform at their best. A programme of refurbishment is continually reviewed.
A new classroom has been completed by knocking through two rooms, providing an excellent teaching
environment for our Year4 children.
Financial Performance
The school had another good year with net incoming resources amounting to £68,461 {2023'. £148,903).
Income increased to £1,432,520 (2023: £1.394,8051 and expenditure to £1,364,059 (2023: £1,245,902},
representing the continued investment that the school makes in teaching, facilities and resources.
Fixed Assets
We continued investing in Chromebooks to increase collaborative possibilities and create new ways of
working. All classrooms now have new style screens, allowing for collaborative work using the Chromebooks.
Investment policy and objectives
The trustees are authorised by the Memorandum of Association to invest monies not immediately required
for the school's purposes in investments, securities or property as may be thought fit.
Reserves policy
The Board has decided that the reserves policy of the school is to establish sufficient funds {including debt
fina ncing if necessary) to continue to invest in the school, its fabric and development. It is the aim of the policy
to maintain free reserves to cover at least the costs of running the school for one term. This target has been
set after careful consideration given the need to ensure the continued security of the school and maintain its
a55et base.
Page 4

Herries Educational Trust Limited
Re
ort of the Trustees for the
ear ended 31 Au
ust 2024
GoTng concern
The school is increasingly successful and stable, and the trustees remain confident that the school is self-
sufficient, with net incoming resources amounting to £68,461 {2023: £148,903) for the year ended 31
August 2024 and unrestricted reserves increased to £1,898.225 {2023'. £1,829,764) as at 31 August 2024.
Plans for Future
The school has performed well throughout the year. The introduction of VAT on school fees and the impact
of changes in national insurance and removal of business rates relief have presented financial challenges and
uncertainty to the school and to parents, however the Board and management continue to work very hard to
manage the cost base of the school and maintain the pupil intake at its optimum to ensure the prosperity of
the school in the face of these challenges. The prospects for 2024-25 are good. Investment in the school
continues and the Board is planning to further improve facilities. In particular, refurbishing the science/art
room to provide more purposeful learning areas and investing in IT resources. We are also planning to extend
our EYFS building to allow for free flow provision for our youngest children.
Our key academic targets are to influence academic outcomes and personal development by building effort,
independence, responsibility and scholarly habits of mind. We plan to review our approach to ensure high
quality teaching a nd learning that fosters enquiry-based learning, independence, thinking skills, creativity and
critical thinking across the curriculum. We are creating new effort grades to spark aspiration and implement
plans for progress.
In response to the family needs of our parents, we have improved our playground and sports facilities and
we plan to enrich a programme of events. We continue to work on improving communications and marketing
reach by strengthening home/school/community links. We have introduced a holiday programme for busy
parents. We are increasing efficiency through the use of a new management information system.
The Herries Parents Association
There have been a number of appeals over the years principally for major building work and school
equipment. We are indebted to the Herrie5 Parents Association for their fundraising activity and their
generous donations to the school. They are an integral part of the school and continue to work extremely
hard to help the school prosper and develop. The most recent HPA grants were for 65" display panels and a
new play trail in the lower playground.
Page 5

Herries Educational Trust Limited
Re
ort of the Trustees for the Year Ended 31 Au
ust 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
Company law requires the trustees to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application
of resources, including the income and expenditure, of the charitable company for thatperiod.
The trustees (who are also the directors of Herries Educational Trust Limited for the purposes of company
lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with
applicable law and United Kingdom Generally Accepted Accounting Practice.
In preparing those financia5 statements. the trustees are required to-
select suitable accounting policies and then apply them consistently:
observe the methods and principle5 in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company wi51 continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financial position of the charitable company and to enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the trustees are aware, there is no relevant information {as defined by Section 418 of the Companies
Act 2006} of which the charitable company's auditors are unaware, and each trustee has taken all the steps
they ought to have taken as a trustee in orderto make them aware of any audit information and to establish
that the charitable company's auditors are aware of that information.
AUDITORS
The auditors, Just Audit & Assurance Ltd, will be proposed for re-appointment at the forthcoming Annual
General Meeting.
ON BEHALF OF THE BOARD:
Emma Dutton
Chair and Trustee
Date: 29 January 2025
Page 6

ort of the Inde
endent Auditors to the Members of Herries Educational Trust Limited
Opinion
We have audited the financial statements of Herrie5 Educational Trust Limited for the year ended
31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash
Flow Statement and notes to the financial statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applica ble law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland; and the Charities SORP 2015.
In our opinion the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of
its incoming resources and application of resources, including its income and expenditure, for the year
then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006 and the
Charities SORP 2015.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK} (ISAS
{U Kll and a pplicable law. Our responsibilities under those standards are further described in
the Auditors responsibilities for the audit of the financial statements section of our report. We
are independent of the charitable company in accordance with the ethical requirements that
are relevant to our a udit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulf illed our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAS
IUKI require us to report to you where-
the trustees, use of the going concern basis of accounting in the preparation of the financial
statements is not appropriate; or
the trustees have not disclosed in the financial statements any identified material
uncertainties that may cast significant doubt about the charitable company's ability to
continue to adopt the going concern basis of accounting for a period of at least twelve months
from the date when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the
information included in the annual report, other than the financial statements and our Report
of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to
the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the audit or otherwise
appears to be materially misstated.
Page 7

Re
ort of the Inde
endent Auditors to the Members of Herries Educational Trust Limited
Other information continued
If, based on the work we have performed, we conclude that
there is a material misstatement of this Other information, we are required to report that fact. We have
nothing to report in this regard
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Report of the Trustees for the financial year for which the financial
statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the Report of
the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept or returns adequate for our audit have not been
received from branches not VlSlted by us- or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to take advantage of the small companies exemption from the
requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees Responsibilities, the trustees {who are also the
directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and
for such internal control as the trustees determine is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to liquidate
the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material mi55tatement, whether due to fraud or error, and to issue a Report of the
Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but
is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected to influence the economic
decision5 of users taken on the basis of these financial statements.
We exercise professional judgement and maintain professional scepticism throughout the audit. It is
our responsibility to identify and assess the risks of material misstatement in the financial statements,
whether due to fraud or error, to design and perform audit procedures responsive to those risks and to
obtain evidence that is sufficient and appropriate to provide a basis for our opinion.
Page 8

ort of the Inde
endent Auditors to the Members of Herries Educational Trust Limited
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely to become aware
of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud
rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or
misrepresentation.
A f urther description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms
part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members those matters we are required to state to them in
an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept
or assume responsibility to anyone other than the charitable company and the charitable company's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Jonathan Russell (Senior Statutory Auditor)
For and on behalf of Just Audit & Assurance Ltd, Statutory Auditor
37 Market Square
Witney
OX28 6RE
Date:
Page 9

Herries Educational Trust Limited
Statement of Financial Activities for the Year Ended 31 Au
ust 2024
31.8.24
Total Funds
31.8.23
Total Funds
Notes
INCOMING RESOURCES
Incoming resources from
generated funds
Activities for generating funds
1,432.520
1,394,805
RESOURCES EXPENDED
Charitable activities
Teaching costs and school expenses
Premises costs
Management and administration
Governance costs
Other resources expended
318
1057,810
74.516
60,622
9,721
161,390
958,528
85.531
60,182
7,876
135,785
314
Total resources expended
1,364,059
1,245,902
NFf INCOMING/OUTGOING
RESOURCES BEFORE REVALUATION
68,461
148,903
Unrealised surplus on revaluation
of freehold property
NET INCOMING
RESOURCES AFTER REVALUATION
68,461
148.903
RECONCILIATION OF FUNDS
Total funds brought fonvard
2,129.764
1,980,861
TOTAL FUNDS CARRIED FORWARD
2,198.225
2,129,764
Page 10

Herries Educational Trust Limited
Balance Sheet as at 31 Au
ust 2024
31.08.24
31.08.23
Note
FIXED ASSETS
Tangible Assets
1,950,043
1,885,426
CURRENT ASSETS
Debtors
Cash at Bank and on hand
10
35,091
i.(J)6,890
23,294
824,939
Total Current Assets
1,041,981
848,233
CREDITORS
Amounts falling due within one year
Loans
li
14
1640,4081
1445,967)
NET CURRENT (LIABILITIES)/ ASSETS
401.573
402,266
TOTAL ASSETS LESS CURRENT LIABILITIES
2.351.616
2,287,692
CREDITORS
Amounts falling due after more than one year
Loans
(153,3911
1157,928}
NEf ASSETS
2,198,225
2,129,764
FUNDS
Unrestricted funds
Freehold Property Revaluation Reserve
13
1,898,225
300,000
1,829,764
300,000
TOTAL FUNDS
2,198.225
2.129,764
The financial statements were approved by the Board of Trustees on 29 January
2025 and were signed on its behalf by:
E. Dutton
Chair
Trustee
Page 11

Herries Educational Trust Limited
Statement of Cash Flows for the Year Ended 31 Au
ust 2024
Notes
31.08.24
31.08.23
Net cash generated from operating activities
15
295,801
359.430
Cash flows from investing activities
Interest income
Purchase of ta nEible fixed assets
Disposa Is of tangible fixed a55ets
(109,313}
{44,8501
Cash used in investing activities
(109,313)
(44,850)
Cash oufflows from financing activities
Decrease in loans
14,5371
15,122)
Cash (spent on}/generated from financing activities
{4,537)
15,121)
Increase in cash and cash equivalents in the year
181.951
309,459
Cash and cash equivalents at the beginning of the year
824,939
515.480
Total cash and cash equivalents at the end of the year
1.006.890
824,939
Page 12

Herries Educational Trust Limited
Notes to the Financial Statement for the
ear ended 31 Au
ust 2024
I, ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102,
have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standards applicable in the UK and the Republic of Ireland
IFRS 102) effective I" January 2015,. Financial Reporting standard 102'Financial Reporting Standards
applicable in the UK and the Republic of Ireland, and the Companies Act 2006. The financial
statements have been prepared under the historic cost convention.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally
entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all cost related to the category. Where costs cannot be directly attributed to particular
headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Equipment, fixtures and fittings
20% on a reducing balance basis
IT equipment
33% on a reducing balance basis
Astroturf, Portacabin, Motor Vehicles
20Yo on a straight-line basis
Items costing less than £250 are written off as an expense as required. Buildings are
recorded at market value and therefore not depreciated.
Financial instruments
The company only has financial assets and liabilities that qualify as basic financial instruments, which
are initially recognised at transaction value and subsequently measured at their settlement value.
Cash Flow
A statement is included in this set of statutory accounts.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Pension costs and other post-retirement benefits
Until 31" August 2020 the school contributed to the Teachers, Superannuation Scheme at rates set
by the Scheme Actuary and advised to the Board by the Scheme Administrator. Teachers joined
APTIS, a defined contribution pension scheme, on I" September 2020. The school also operates a
defined contribution pension scheme for non-teaching staff.
Page 13

Herries Educational Trust Limited
Notes to the Financial Statements for the Year Ended 31 Au
ust 2024 continued
ACTIVITIES FOR GENERATING FUNDS
31.8.24
31.8.23
School fees receivable
Grants and donations
Trading turnover catering
Other income
1,241756
1,201,582
1,093
141,690
50,440
143,006
47.655
1,432,518
1,394,805
CHARITABLE AcfiviTIES COSTS
Direct costs
Support costs Totals
(See note 4)
Teaching costs and school expenses
Premises cost5
Management and administration
1057810
74,516
1,057,810
74,516
60,622
60,622
1,132,326
60,622
1,192,948
SUPPORT COSTS
31.08.24
31.08.23
Management and administration
60,622
60,182
GOVERNANCE COSTS
31.8.24
31.8.23
Auditors, Fees
Other costs
Total
6.600
6,600
9,721
7,876
NET INCOMING/{OUTGOING) RESOURCES
Net resources are stated after charging:
31.8.24
31.8.23
Audit fees, accountancy and inspection costs
Depreciation- owned assets
Total
9,721
7,876
54,416
37,607
Page 14

Herries Educational Trust Limited
Notes to the Financial Statements for the
ear ended 31 Au
ust 2024- continued
EMPLOYEE AND TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, expenses paid for the year ended 31 August 2024 or for the year ended 31
August 2023 as all expenses were waived. One member of staff who is a Director and Trustee received
remuneratior) of £89,23512023- £84,185).
STAFF COSTS
31.8.24
31.8.23
Wages and salaries
Social security costs
Other pension costs
Other Staff Costs
804.659
67,741
90,523
13,754
976,677
734,236
60,521
75,118
6,719
876,594
Staff Numbers
31.8.24
25
31.8.23
23
Teaching
Ad ministration
Facilities
32
30
TANGIBLE FIXED ASSETS
Freehold
Property
Other
Totals
COST
At I September 2023
Additions
1,800,000
428,927
109,313
2,228,927
109,313
At 31 August 2024
538 240
2 338 240
DEPRECIATION
At I September 2023
343,501
343,501
Charge for year
44,695
44,695
At 31 August 2024
388.196
388.196
NET BOOK VALUE
At 31 August 2024
1,81)0,000
150,044
1,950,044
At 31 August 2023
1,800,000
85,426
1,885,426
Page 15

Herries Educational Trust Limited
Notes to the Financial Statements for the
ear ended 31 Au
ust 2024- continued
TANGIBLE FIXED ASSETS continued
The Trustees have decided to hold the value of the school's freehold property at market valuation. An
opinion on the market value was undertaken by Pinders Professional & Consultancy Services Ltd,
agents of Lloyds Bank, on 25 May 2018 and this value was adopted with effect from that date. The
cost value of freehold property increased from £1.500,0(X) to £1.800,000. An unrealised surplus on
revaluation of £300,000 is reflected in the accounts for the year ended 31 August 2024. Depreciation
on the property has not been charged. The trustees believe that the value is still correct as at 31"
August 2024.
io.
DEBTORS
31.8.24
31.8.23
Fees
Bad Debt Provision
8,331
6,133
Total Net Fee Debtors
8,331
6,133
Prepayments
Other debtors
26,760
17,161
35,091
23,294
ii.
CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24
31.8.23
Trade creditors
Social Security Costs and Taxes
Accrued expenses
29,955
17.032
6,600
47,333
16,235
6,600
Fees in advance
End of Term Deposits
Other creditors
453,605
99.100
34,116
277,601
78,900
19,298
Total
640.408
445,967
Page 16

Herries Educational Trust Limited
Notes to the Financial Statements for the
ear ended 31 Au
ust 2024- continued
12.
MOVEMENT IN DEFERRED INCOME
Fees in advance
31.8.24
31.8.23
Amounts brought forward
Amounts paid in advance this year
Amounts released
Amounts carried forward
277.601
385,396
209 392
453,605
106,399
277,601
106 399
277,601
13.
MOVEMENT IN FUNDS
Net movement
in funds
At 1.9.23
At 31.8.24
General fund unrestricted
1,829.764
68,461
1,898,225
Freehold Property Revaluation Reserve
300.000
300,000
Total Funds
2,129.764
68,461
2,198,225
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
1432 520
1364 059
TOTAL FUNDS
1,432.520
(1,364.059) 68,461
Page 17

Herries Educational Trust Limited
Notes to the Financial Statements for the Year Ended 31 Au
ust 2024- continued
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Included in bank loans is an amount of £153.39112023 - £157,298), repayable in monthly instalments. The
loan carries interest at base rate plus 3.2%. The loan matures on 12 May 2040 and is secured by way of fixed
and floating charge over the assets of the Trust.
Amount due within 2-5 years
£18,000
Amount due in over 5 years
£135.391
15.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NEr
CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
Net movement in funds
Add back depreciation charge
Deduct interest income shown in investing activities
Deduct unrealised surplus on revaluation of freehold
property
{Increasel/ decrease in debtors
l Decreasel/ increase in creditors
68,461
44,695
148,903
29,731
{11,7971
194,442
13,484)
184,280
Net cash generated from operating activities
295.801
359,430
Page 18