Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
CHARITY REGISTRATION NO. 1088060
REGISTERED NO. 04105045 (England and Wales)
DONCASTER DEAF TRUST
REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| PAGE | |
|---|---|
| Reference and Administration Details | 3 |
| Report of the Trustees | 4 – 7 |
| Independent Auditor’s Report | 8 – 11 |
| Consolidated Statement of Financial Activities | 12 |
| Consolidated Balance Sheet | 13 |
| Charity Statement of Financial Activities | 14 |
| Charity Balance Sheet | 15 |
| Consolidated and Charity Statement of Cash | 16 |
| Flows | |
| Notes to the Financial Statements | 17 - 38 |
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
M Gutowski (resigned 27/02/2024) M Warde-Norbury S Dumican K Rushbrook (resigned 13/09/2024) C Warde-Aldam
K Nicoll C Goodman S Webster (appointed 22/11/2023) T Bell (appointed 11/01/2024) D Conway (appointed 10/11/2024) N Thomas (appointed 10/11/2024)
Company Secretary
P Carter
Registered Office
Leger Way Doncaster South Yorkshire DN2 6AY
Registered Number 04105045
Charity Registration Number
1088060
Bankers
HSBC 1 High Street Doncaster South Yorkshire DN1 1EE
External Auditors
Wbg (Audit) Limited 168 Bath Street Glasgow G2 4TP
Solicitors
Veale Wasbrough Vizards LLP Narrow Quay House Bristol BS1 4QA
Stockbrokers
Investec Wealth & Investment Ltd Beech House 61 Napier Street Sheffield S11 8HA
Senior Management Team
A L Johnson – Executive Principal P Carter – HR Manager G E Craik – Director of Finance
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees 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 and group for the year ended 31 August 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRA 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the Charity are to advance education, training and care for deaf and hearing-impaired children and adults and those with communication and/or learning difficulties and, in particular, but without prejudice to the foregoing, to maintain and conduct in or near Doncaster a school or schools and college or colleges in furtherance of these objects.
The main activities of the Charity in furtherance of these objects are the operation of the Communication Specialist College Doncaster and the Doncaster School for the Deaf. The Charity also operates a day Nursery, a Residential Care Home for pupils at the School and an adult employability service.
In setting objectives and planning activities the Trustees have considered the Charity Commission’s general guidance on public benefit when reviewing aims and objectives and in planning future activities.
STRATEGIC REPORT
Achievement and performance
The College has had a successful year offering a wide range of courses to students with a diverse range of disabilities and has seen the roll increased from 137 to 155 students. We also continue to accommodate a small number of residential students in College although most students travel to college daily. Numbers on roll in School increased from 38 to 42 and all pupils are progressing well in their communication and learning. The Children's Home continues to provide residential care for a small number of children, although most school children are day pupils. The Nursery provision has increased, and the average number of children has remained at 120. The employability service has continued with its contract which has widened the service to adults and 34 adults were helped to find employment within the local community. Work continues to identify other funding opportunities to provide an employability service to adults.
The Trustees are grateful to numerous supporters who provided grants and donations to support the Charity's work that have benefited our students and pupils.
Funding for students at the College and pupils at the School is provided by UK local authorities and government agencies so access to the College and School is available to all students and pupils requiring specialist education provided irrespective of their financial circumstances. In addition, the Trust has obtained funding to provide bursaries to assist students and pupils to access the education provided in cases where hardship can be demonstrated.
The Nursery attracts children from a wide range of backgrounds and although fees are payable by the parents or carers for places in the Nursery, government funding is available to subsidise some of the costs of the provision. In a number of cases places are offered entirely free of charge to parents and carers only choosing to use the Nursery for their weekly entitlement of free provision.
Fundraising activities
The charity does not carry out significant fundraising activities. However, a fundraising strategy has been implemented with the aim of increasing fundraising activity in the next financial year.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
Financial Review
Financial Position
The Statement of Financial Activities comprises the operational activity of the nursery, the school and college for the twelve months 1st September 2023 to 31st August 2024 together with the returns on the investment of designated and restricted funds. The Trust had an overall increase in funds of £389,000. The Trust had a surplus of £290,000 before making allowance for the FRS102 pension income of £276,000 and the net gain on investments of £99,000 resulting in a Total Net Income of £665,000.
Assets and Investments
The tangible fixed assets of the Charity, namely the freehold land, buildings, plant, equipment and motor vehicles, are fully employed in the operation of the nursery, school and college. Maintenance and repairs expenditure for the upkeep and modernisation of the property, including that required for compliance with current regulatory and legal standards, is charged to the Statement of Financial Activities as incurred. The Trustees consider that the modernisation and improvement element of this category of expenditure does not increase the value of the property for its existing use and therefore consider it inappropriate to reflect this as an increase in the overall value of the Charity's assets.
Monies received from donors or set aside by the Trustees for specific purposes (restricted and designated funds) are invested in accordance with the Trustees' investment policy and these investments are valued at market value.
The Trustees' policy is to manage the investments to maximise the return over a short to medium time horizon. The Trustees' policy on risk is to limit equity exposure to not more than 75% of the value of funds invested, with at least 25% of investments held as gilts or corporate bonds. During the year to August 2024 a substantial portion of the investments have been realised in order to fund the expenditure on the planned and approved upgrade/replacement of a significant portion of the pipework and boilers across the estate. This has resulted in the value of investments held at 1 September 2023 dropping by £886,000 to £392,000 at 31 August 2024.
The Trustees have appointed Investec Wealth and Investment Ltd to manage the Trust's investment portfolio. The Trustees receive reports on the investment returns and market value of the investment portfolio at 3 monthly intervals.
The funds of the Charity
The Charity held unrestricted funds of £4,440,000 at 31st August 2024 (2023: £3,953,000). Previously, these included three specific funds : Tangible Fixed Assets, Building and Equipment and a Charities and Risk Fund. They have now been consolidated into the one general Unrestricted Fund.
The Tangible Fixed Asset Designated Fund of £3,953,000 (2023: £2,543,000) represents the book value of the property and other tangible fixed assets (other than the Doncaster Deaf Trust Endowment property and assets bought with restricted funds) held to fulfil the objects of the Charity by operation of the nursery, school and college.
The Building and Equipment Designated Fund of £nil (2023: £175,000) represents monies invested for future use in the expansion and improvement of the school and college facilities. This fund has now been released to general.
The Charities and Risk Designated Fund represents monies invested for future use as part of the Trustees risk management policy and is available to cover funding shortfalls or unexpected operational costs of the nursery, school and college.
At 31st August 2024 total reserves (unrestricted funds excluding the pension reserve and tangible fixed asset fund) stood at £847,000 which is sufficient to cover 2 months operational expenditure.
The Trustees confirm that the assets are available and adequate to fulfil the obligations of the Charity.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
Future plans
The Trustees continue to seek to attract new children, pupils and students and to grow the Nursery, School and College provision. The adult employability service continues to access funding streams to maintain the provision.
Relationships with other organisations
The Charity is the corporate Trustee of Doncaster Deaf Trust Endowment (Registered Charity No 529410) which owns part of the site on which the school and college operate. Doncaster Deaf Trust Endowment has made this endowed property available to Doncaster Deaf Trust on an ongoing basis.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Trustees have delegated day to day management of the Charity's activities to the Chief Executive Officer, Alexis Johnson, with support from senior management teams for the various operations who meet regularly. The Board of Trustees meets on a quarterly basis to provide overall governance of the charity, but has also delegated strategic oversight of the school and college to two separate Boards of Governors. The School and College Governing Boards meet 3 times a year. A number of advisory sub-committees of the Board also meet regularly for more detailed consideration of certain aspects of the charity's operations.
The remuneration of key management personnel is determined by the Trustees after considering market rates and is reviewed every year as part of the staff appraisal process. The recruitment and appointment of new Trustees and Governors takes cognisance of gender, ethnic origin and the skills, abilities and experience required for the running of the charity.
The Charity is also a member of the National Association of Independent and Non-Maintained Special Schools (NASS), the Association of Colleges (A0C) and the Association of Chief Executives of Voluntary Organisations (ACEVO) and these associations provide various opportunities to share best practice amongst similar charities and organisations.
Risk Management and Financial Controls
The Trustees have overall responsibility for ensuring that the Charity has an effective system of risk management. The major risks to which the charity is exposed are reviewed by the Trustees and School and College Governors regularly and policies and procedures have been established to minimise exposure to these risks. The Trustees also have appropriate insurance cover in place to mitigate any potential losses and costs which could be incurred.
In particular, the Trustees acknowledge their responsibility for ensuring the Charity has an effective system of internal financial controls. It is recognised by the Trustees that such a system is designed to manage rather than eliminate the risk of failure to achieve the Charity's objectives, and can only provide reasonable, not absolute, reassurance against material misstatement or loss. The Trust has appointed a Head of Finance and Support Services to implement the financial controls. The Trustees attend the Finance and Audit Committee to ensure oversight of the financial management of the Trust operations. The Trust take additional advice from the Charity's auditors where potential issues are identified as the system is reviewed.
The Trustees also acknowledge their responsibilities for management of the shortfall in funding of the support staff’s pension provision and take regular actuarial advice to remedy this shortfall which is disclosed in the financial statements in accordance with FRS102. This defined benefit pension scheme is now closed to new members.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
The Trust appoints a Director of Human Resources and a Health and Safety Officer to implement the Trust's policies and procedures with regards to the compliance with health and safety and employment legislation.
The Trust's operations are also subject to external scrutiny and audit by regulatory bodies and government agencies responsible for ensuring appropriate use and control of funding provided and reports received from these organisations are considered by the Governors and Trustees as part of their review process.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Doncaster Deaf Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will 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.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Wbg (Audit) Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 4[th] March 2025. and signed on the board's behalf by:
| DowSignedConway by: 4B4CE2E9084C4EC... ........................................................................
Don Conway
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES AND MEMBERS OF DONCASTER DEAF TRUST
Opinion
We have audited the financial statements of Doncaster Deaf Trust (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31st August 2024 which comprise the Group and Parent Charitable Company’s Statement of Financial Activities (incorporating income and expenditure accounts), the Group and Parent Charitable Company’s Balance Sheet, the Group and Parent Charitable Company’s Cash Flow Statements and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31st August 2024, and of their incoming resources and application of resources, including their income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Emphasis of matter – Prior year adjustment
We draw attention to note 29 to these revised financial statements which describes the need for revision of the classification of costs between direct and support for the year ended 31 August 2023. Our opinion is not modified in this respect.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Report and Financial Statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES AND MEMBERS OF DONCASTER DEAF TRUST
Opinions 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
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the Report of the Trustees have 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 group and parent 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 in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept by the parent charitable company; or
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the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit .
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 7, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group and parent 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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under the Companies Act 2006 and report in accordance with regulations made under those Acts.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which these are capable of detecting irregularities, including fraud is detailed below:
Extent to which the audit was considered capable of detecting irregularities including fraud
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures response to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing the risks or material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the following;
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The nature of the charity, the environment in which it operates and the control procedures implemented by management and the trustees; and
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Our enquiries of management and trustees about their identification and assessment of the risks of irregularities.
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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES AND MEMBERS OF DONCASTER DEAF TRUST
Based on our understanding of the charity and the sector we identified that the principal risks of noncompliance with laws and regulations related to, but were not limited to;
- Regulations and legislation pertinent to the charity’s operations; and
We considered the extent to which non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006. We evaluated management and trustees’ incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls), and determined that the principal risks were related to;
- Posting inappropriate journal entries.
Audit response to the risks identified;
Our procedures to respond to the risks identified included the following;
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Gaining an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
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Enquiring of management, trustees and legal advisors concerning actual and potential litigation and claims;
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Reading minutes of meetings of those charged with governance; -
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In addressing the risk of fraud as a result of management override of controls, testing the appropriateness of journal entries and other adjustments; evaluating rationale of any significant transactions that are unusual or outside the normal course of business. In testing these journals we looked at the following areas:
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Wages and Salaries
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Prepayments
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Fixed Assets – Depreciation
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Accruals
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Deferred and Accrued Income
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
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 further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES AND MEMBERS OF DONCASTER DEAF TRUST
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 and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
W by CAME) Limbed | Signed by: 2A4E408DA5B14D1... 168 Bath Street Alexander Hogg CA (Senior Statutory Auditor) Glasgow 4[th] March 2025 G2 4TP
For and on behalf of Wbg (Audit) Limited, Statutory Auditor Wbg (Audit) Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 AUGUST 2024 (incorporating an income and expenditure account)
| Note Income and endowments from: Donations and legacies 5 Charity’s educational operations 8 Other trading activities 6 Investment income 7 Other income 9 Total Income Expenditure on: Raising funds Raising donations and legacies 10 Charitable activities 11 Total Expenditure Net income/(expenditure) before pension cost and investment gains FRS102 Pension cost Net gains/(losses) on investments Net income/(expenditure) for the year Transfers between funds Actuarial (losses) on defined benefit pension schemes 26 Net movement in funds Funds reconciliation Total Funds brought forward 21 Total Funds carried forward 21 |
Unrestricted Funds 2024 Restricted Funds 2024 Endowment Funds 2024 Total Funds 2024 Unrestricted Funds 2023 Restricted Funds 2023 Endowment Funds 2023 Total Funds 2023 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 24 - - 24 - - - - 12,298 21 - 12,319 10,355 52 - 10,407 13 - - 13 13 - - 13 33 - - 33 35 - - 35 191 - - 191 62 - - 62 |
|---|---|
| 12,559 21 - 12,580 10,465 52 - 10,517 |
|
| 102 - - 102 82 - - 82 12,145 34 9 12,198 10,032 79 3 10,114 |
|
| 12,247 34 9 12,290 10,114 79 3 10,196 |
|
| 312 (13) (9) 290 351 (27) (3) 321 276 - - 276 117 - - 117 99 - - 99 (56) - - (56) |
|
| 687 (13) (9) 665 412 (27) - 382 76 (76) - - 3 (3) - - (276) - - (276) (275) - - (275) |
|
| 487 (89) (9) 389 140 (30) (3) 107 3,953 274 581 4,808 3,813 304 584 4,701 |
|
| 4,440 185 572 5,197 3,953 274 581 4,808 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2024
| Note | 2024 | 2023 | ||
|---|---|---|---|---|
| £000 | £000 | |||
| Fixed assets: | ||||
| Tangible assets | 16 | 4,263 | 3,234 | |
| Total Fixed Assets | 4,263 | 3,234 | ||
| Current assets: | ||||
| Debtors | 18 | 2,314 | 339 | |
| Investments | 17 | 392 | 1,278 | |
| Cash at bank and in | 24 | 793 | 506 | |
| hand | ||||
| 3,499 | 2,123 | |||
| Liabilities: | ||||
| Creditors falling due | ||||
| within | ||||
| one year | 19 | (2,565) | (549) | |
| Net Current Assets | 943 | 1,574 | ||
| Net Assets | 5,197 | 4,808 | ||
| Funds: | ||||
| Restricted funds | 21 | 185 | 274 | |
| Unrestricted funds | 21 | 4,440 | 3,953 | |
| Endowment funds | 572 | 581 | ||
| Total funds | 5,197 | 4,808 |
The financial statements were approved by the Board of Trustees and authorised by for issue on 4[th] March 2025 and were signed on their behalf by:
| DowSignedConway by: 4B4CE2E9084C4EC... Name: Don Conway
Company Registration No. 04105045
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 AUGUST 2024
(Incorporating an income and expenditure account)
| Note Income and endowments from: Donations and legacies 5 Charity’s educational operations 8 Other trading activities 6 Investment income 7 Other income 9 Total Income Expenditure on: Raising donations and legacies Charitable Acitvities Total Expenditure Net (expenditure)/income before pension cost and investment gains FRS102 Pension cost Net (losses)/gains on investments Net income/(expenditure) for the year Transfers between funds Actuarial (losses)/gains on defined benefit pension schemes 26 Net movement in funds Funds reconciliation Total Funds brought forward Total Funds carried forward |
Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 £’000 £’000 £’000 £’000 £’000 £’000 24 - 24 - - - 12,298 21 12,319 10,355 52 10,407 13 - 13 13 - 13 33 - 33 35 - 35 191 - 191 62 - 62 |
|---|---|
| 12,559 21 12,580 10,465 52 10,516 |
|
| 102 - 102 12,145 34 12,179 10,114 78 10,193 |
|
| 12,247 34 12,281 10,114 78 10,193 |
|
| 312 (13) 299 351 (27) 324 276 - 276 117 - 117 99 - 99 (56) - (56) |
|
| 687 (13) 674 411 (27) 384 76 (76) - 411 (27) 384 3 (3) - (276) - (276) (275) - (275) |
|
| 487 (89) 398 139 (30) 109 3,953 274 4,227 3,813 304 4,118 |
|
| 4,440 185 4,625 3,953 274 4,227 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities
14
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
CHARITY BALANCE SHEET AS AT 31 AUGUST 2024
| Note | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £000 | £000 | ||||
| Fixed assets: | |||||
| Tangible assets | 16 | 3,691 | 2,653 | ||
| Total Fixed Assets | 3,691 | 2,653 | |||
| Current assets: | |||||
| Debtors | 18 | 2,314 | 339 | ||
| Investments | 17 | 392 | 1,278 | ||
| Cash at bank and in hand | 24 | 793 | 506 | ||
| 3,499 | 2,123 | ||||
| Liabilities: | |||||
| Creditors falling due | |||||
| within | |||||
| one year | 19 | (2,565) | (549) | ||
| Net Current Assets | |||||
| 542 | 1,574 | ||||
| Net Assets | 4,625 | 4,227 | |||
| Funds: | |||||
| Restricted funds | 4,440 | 275 | |||
| Unrestricted funds | 185 | 3,952 | |||
| Total funds | 4,625 | 4,227 |
These financial statements were approved and authorised for issue by the Board of Trustees on 4[th] March 2025 and signed on its behalf by:
Name Don Conway Trustee
Company Registration No. 04105045
15
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
CONSOLIDATED AND CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDING 31 AUGUST 2024
| Note Cash flows from operating activities: Net cash provided by operating activities 23 Cash flows from investing activities: Purchase of tangible fixed assets Purchase of fixed asset investments Proceeds from the sale of fixed asset investments Interest received Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents brought forward 24 Cash and cash equivalents carried forward 24 |
Group 2024 £000 Charity 2024 £000 Group 2023 £000 Charity 2023 £000 670 670 375 375 (1,199) (1,199) (394) (394) (109) (109) (272) (272) 892 892 288 288 33 33 35 35 |
|---|---|
| (383) (383) (343) (343) |
|
| 287 287 32 32 506 506 474 474 |
|
| 793 793 506 506 |
16
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
(b) Funds structure
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created funds for specific purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed, or through the terms of an appeal.
Further details of each fund are disclosed in note 21.
(c) Income recognition
Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
17
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
1. Accounting Policies (continued)
Legacy gifts are recognised on a case-by-case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash, or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
Income from government and other grants, whether ‘capital’ or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
All expenditure is accounted for on accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (f) below.
-
Raising funds – other trading activities includes fundraising costs, shop costs and lottery costs;
-
Investment management costs – costs associated with the management of the charity’s investment portfolio.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure is incurred.
(e) Donations and legacies
Donations received for the general purposes of the charity are included as unrestricted funds. Donations for activities restricted by the wishes of the donor are taken to restricted funds where these wishes are legally binding on the Trustees.
For legacies, entitle is taken as the earlier of the date on which either: the charity is aware that notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measure reliably and the charity has been notified of the executor’s intention to make a distribution.
18
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
(f) Allocation of support and governance costs
Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.
Governance costs and support costs relating to charitable activities have been apportioned based on time spent. The allocation of support and governance costs is analysed in note 12.
(g) Tangible fixed assets and depreciation
Heritable Property is stated at cost. Following the implementation of FRS102 ‘The Financial Reporting Standard applicable in UK and Republic of Ireland’ the parent company adopted a policy of not revaluing tangible fixed assets. At the 1 April 2014 the carrying amounts of tangible fixed assets were uplifted to fair value which was then treated as deemed cost in line with the transitional provisions of FRS102.
A review for impairment of heritable property is carried out if events or changes in circumstances indicate that the carrying value amount of the property may not be recoverable.
All assets costing more than £1,000 are recognised and valued at historical cost. Depreciation is provided on fixed assets for the purpose of writing off each asset over its estimated useful life at the following rates:
Freehold buildings – 2% per annum straight line Furniture, plant and equipment – 10% per annum straight line Computer equipment – 25% and 10% per annum straight line Motor vehicles – 20% per annum straight line Antiques and paintings – 0% per annum straight line
(h) Current asset investments
Investments are included at market value at the year end. Gains and losses on disposal and revaluation of investments are charged or creditor to the Statement of Financial Activities.
(i) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
(j) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(k) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(l) Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.
19
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
(m) Pensions
The charity contributes to the Teachers’ Superannuation Scheme at rates set by the Scheme Actuary and advised to the Trustees by the Scheme Administrator. The scheme is a multi-employer defined benefit final salary scheme where the share of the assets and liabilities applicable to each employer is not identified. Accordingly, these financial statements include pension costs payable on a defined contribution basis in accordance with Financial Reporting Standard 102.
Contributions to the scheme are based on applicable pension costs across the participating organisations taken as a whole. The pension charge recorded in these accounts is the amount of contributions payable in the accounting year.
The charity also contributes to a defined benefit scheme for non teaching staff administered by the South Yorkshire Pension Authority. Further details can be found in note 26.
(n) Grants and bursaries
Grants and bursaries from restricted funds are included in the period for which the award is given.
(o) Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.
(p) Financial instruments
The charity only holds basic financial instruments as defined by FRS102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:
Financial assets – trade and other debtors are basic financial instruments and are debt instruments at amortised cost. Prepayment are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. Public benefit entity concessionary loans are initially recognised at the amount received and the carrying value is subsequently adjusted to reflect any accrued interest.
(q) Taxation
The company is a charitable company within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied for charitable purposes only.
(r) Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
20
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
2. Legal status
The charitable company is limited by guarantee. Its registered office is Leger Way, Doncaster, DN2 6AY. Its principal activities are the operation of the Communication Specialist College Doncaster and the Doncaster School for the Deaf. The Charity also operates a day Nursery and a Residential Care home for pupils at the school.
3. Financial activities of the subsidiary
Doncaster Deaf Trust is the sole trustee, and therefore controls, Doncaster Deaf Trust Endowment, an unincorporated charity (no.529410). Doncaster Deaf Trust Endowment hold land and buildings as a permanent endowment. Doncaster Deaf Trust occupies the property rent free but pays for all maintenance and running costs of the property. Doncaster Deaf Trust Endowments accounts for the year ended 31 August 24 show:
| 2024 | 2023 | |
|---|---|---|
| £’000 | £’000 | |
| Income | - | - |
| Depreciation | (9) | (3) |
| Deficit for the year | (9) | (3) |
| Tangible assets | 572 | 581 |
| Reserves – endowment fund | 572 | 581 |
4. Related party transactions and trustees’ expenses and remuneration
The Trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2023: £nil). No expenses were waived by Trustees (2023: £nil).
One item was donated by a trustee with a value of £250 (2023: £nil).
One transaction was carried out with a related party to the value of £40 (2023: £nil). No other related party transactions were noted.
5. Income from donations and legacies
| Donations | Group 2024 Charity 2024 Group 2023 Charity 2023 £000 £000 £000 £000 24 24 - - |
|---|---|
| 24 24 - - |
6. Other trading activities
| Room hire | Group 2024 Charity 2024 Group 2023 Charity 2023 £000 £000 £000 £000 13 13 13 13 |
|---|---|
| 13 13 13 13 |
21
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
7. Investment income
| . Investment income | |
|---|---|
| Listed investments | Group 2024 Charity 2024 Group 2023 Charity 2023 £000 £000 £000 £000 33 33 35 35 |
| 33 33 35 35 |
8. Income from charitable activities
| 8. Income from charitable activities | ||||
|---|---|---|---|---|
| Group | Charity | Group | Charity | |
| 2024 | 2024 | 2023 | 2023 | |
| £000 | £000 | £000 | £000 | |
| Fees and grant from funding | ||||
| authorities | 12,319 | 12,319 | 10,407 | 10,407 |
| 12,319 | 12,319 | 10,407 | 10,407 | |
| 9. Other income | ||||
| Group | Charity | Group | Charity | |
| 2024 | 2024 | 2023 | 2023 | |
| £000 | £000 | £000 | £000 | |
| Sundry income | 191 | 191 | 62 | 62 |
| 191 | 191 | 62 | 62 | |
| 10. Raising funds – expenditure on other trading activities | ||||
| 2024 | Direct | Support | Total | |
| Costs | Costs | 2024 | ||
| £’000 | £’000 | £’000 | ||
| Raising funds | - | 102 | 102 | |
| - | 102 | 102 | ||
| 2023 | Direct | Support | Total | |
| Costs | Costs | 2023 | ||
| £’000 | £’000 | £’000 | ||
| Raising funds | - | 82 | 82 | |
| - | 82 | 82 |
22
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
11. Analysis of charitable expenditure
| Teaching salaries and related expenses Books and apparatus Clothing and laundry Transport and travel expenses Exam and tuition fees Miscellaneous teaching expenses Legal and professional fees Miscellaneous running expenses Governance costs Support costs Depreciation |
Total Group Total Group 2024 2023 £’000 £’000 7,125 5,748 199 121 3 3 8 8 25 21 2 9 127 140 38 43 486 416 4,185 3,605 161 - |
|---|---|
| 12,198 10,114 |
12. Allocation of governance and support costs (Group)
The breakdown of support costs and how these were allocated between governance and other support costs is shown in the table below:
2024:
| Cost type Staff costs Staff Recruitment and Training Staff Travel and wellbeing Repairs and Maintenance Furniture and Equipment Cleaning Clothing and Laundry Light, Heat and Power Transport and Travel Expenses Legal and Professional Fees Misc Running Expenses Food and Allowances Insurance Printing, Postage and Stationary Telephone Marketing & Advertising Computer Running Costs Donations In Kind Audit and Accountancy Depreciation Total |
Total allocated £’000 Governance related £’000 Other support costs £’000 Basis of apportionment 2,536 254 2,282Staff time 182 18 164 Usage 53 5 48 Usage 359 36 323 Usage 15 2 13 Usage 24 2 22 Usage 2 - 2 Usage 512 51 461 Usage 18 2 16 Usage Usage 153 15 138 Usage 12 1 12 Usage 362 36 326 Usage 149 15 134 Usage 55 6 49 Usage Usage 12 1 11 Usage 14 1 13 Usage 70 7 63 Usage 24 2 22 Usage 28 3 25 Usage 170 17 153Usage 4,751 474 4,277 |
|---|---|
23
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
12. Allocation of governance and support costs (Group) (cont)
2023:
| Cost type Staff costs Staff Recruitment and Training Staff Travel and wellbeing Repairs and Maintenance Furniture and Equipment Cleaning Clothing and Laundry Light, Heat and Power Transport and Travel Expenses Legal and Professional Fees Misc Running Expenses Food and Allowances Insurance Printing, Postage and Stationary Telephone Marketing & Advertising Computer Running Costs Accountancy Depreciation Total |
Restated Total allocated £’000 Restated Governance related £’000 Restated Other support costs £’000 Basis of apportionment 2,339 234 2,105Staff time 112 11 101 Staff Time 67 7 60 Usage 190 19 171 Usage 11 1 10 Usage 30 3 27 Usage 2 - 2 Usage 474 47 427 Usage 23 2 21 Usage 105 11 94 Usage 63 6 57 Usage 279 28 251 Usage 141 14 127 Usage 34 3 31 Usage 14 1 13 Usage 10 1 9 Usage 84 8 76 Usage 23 2 21 Usage 93 9 84Usage 4,094 407 3,687 |
|---|---|
| Governance costs: | 2024 | 2023 |
|---|---|---|
| £’000 | £’000 | |
| Auditor’s remuneration | 12 | 9 |
13. Analysis of staff costs and remuneration of key management personnel
| Wages and salaries Social security costs Pension costs Redundancy costs Key management personnel remuneration |
Group 2024 Group 2023 £000 £000 7,704 6,662 664 583 1,070 901 107 - |
|---|---|
| 9,545 8,146 |
|
| 2024 £’000 2023 £’000 447,185 305,021 |
The disclosures with regard to key management personnel include senior management team.
24
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
The number of employees whose employee benefits fell within the following bands are as follows:
| £60,000 - £70,000 £70,000 - £80,000 £80,001 - £90,000 £100,000 - £110,000 £110,001 - £120,001 The average monthly number of persons, by headcount, employed by the charity during the year was: Teaching and care of students Non educational 15. Net income for the year - Group This is stated after charging: Depreciation – owned assets External auditor’s remuneration Operating leases |
2024 £’000 2023 £’000 3 1 1 3 2 - - 1 1 - |
|---|---|
| 2024 No. 2023 No. 234 210 61 63 |
|
| 295 273 |
|
| 2024 £000 2023 £000 170 96 12 9 65 43 |
25
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
16. Tangible Fixed Assets – Group & Charity
| Group Cost or valuation At 1 September 2023 Additions At 31 August 2024 Depreciation At 1 September 2023 Charge for the year At 31 August 2024 Net book value At 31 August 2024 At 31 August 2023 Charity Cost or valuation At 1 September 2023 Additions At 31 August 2024 Depreciation At 1 September 2023 Charge for the year At 31 August 2024 Net book value At 31 August 2024 At 31 August 2023 |
Freehold Land £000 Freehold Buildings £000 Furniture, Plant and Equipment £000 Motor Vehicles £000 800 2,156 1,699 67 - 128 298 - |
Assets Under Construction £000 Total £000 - 4,722 773 1,199 |
|---|---|---|
| 800 2,284 1,997 67 |
773 5,921 |
|
| - 399 1,033 56 - 41 126 3 |
- 1,488 - 170 |
|
| - 440 1,159 59 |
- 1,658 |
|
| 800 1,844 838 8 |
773 4,263 |
|
| 800 1,757 666 11 |
- 3,234 |
|
| Freehold Land £000 Freehold Buildings £000 Furniture, Plant and Equipment £000 Motor Vehicles £000 600 1,706 1,699 67 - 128 |
Assets Under Construction £000 Total £000 - 4,072 773 1,199 |
|
| 600 1,834 1,997 67 |
773 5,271 |
|
| - 330 1,033 56 - 32 126 3 |
- 1,419 - 161 |
|
| - 362 1,159 59 |
- 1,580 |
|
| 600 1,472 838 8 |
773 3,691 |
|
| 600 1,376 666 10 |
- 2,653 |
26
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
17. Fixed Asset Investments – Group and Charity
| Movement in fixed asset listed investments - Group Market value brought forward at 1 September 2023 Add: additions to investments at cost Disposals at carrying value Add net gain on revaluation Market value as at 31 August 2024 Capital Account Investments at fair value – Group Comprised: Equities Cash held within the investment portfolio Total |
2024 £’000 2023 £’000 1,064 1,329 109 79 (831) (297) 38 (49) 380 1,064 12 214 392 1,278 |
|---|---|
| 2024 £’000 2023 £’000 380 1,064 12 214 |
|
| 392 1,278 |
All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value). The significance of financial instruments to the ongoing financial sustainability of the Charity is considered in the financial review and investment policy and performance sections of the Trustees’ Annual Report.
The main risk to the charity from financial instruments lies in the combination of uncertain investment markets and volatility in yield. In terms of specific risks including foreign exchange and credit risks, the charity uses specialist investment managers to balance and limit the overall financial risk by operating a portfolio which provides a high degree of diversification of holdings within a fairly wide band of investment asset classes all of which are quoted on recognised stock exchanges. In addition, the charity does not make use of riskier derivatives or more complex financial instruments in this area. Liquidity risk is expected to be low as all assets are traded in markets with high trading volumes and not in any markets subject to exchange controls or trading restrictions. In terms of potential Brexit implications, the charity, like most other entities, is monitoring developments closely but at this stage is relatively confident that the current portfolio and future plans for it will shield it from any significant risks when that process is completed.
18. Debtors
| Other debtors Prepayments |
Group 2024 Charity 2024 Group 2023 Charity 2023 £’000 £’000 £000 £000 2,270 2,270 286 286 44 44 53 53 |
|---|---|
| 2,314 2,314 339 339 |
27
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
19. Creditors: amounts falling due within one year
| Trade creditors Deferred income (see note 20) Accruals Taxation and social security |
Group 2024 Charity 2024 Group 2023 Charity 2023 £’000 £’000 £’000 £’000 293 293 255 255 1,758 1,758 95 95 248 248 66 66 266 266 133 133 |
|---|---|
| 2,565 2,565 549 549 |
20. Deferred income – Group
Included within sundry creditors and accruals is deferred income as follows:
| Balance as at 31 August 2023 Amounts released to income from charitable activities Amount deferred in year Balance as at 31 September 2024 |
Group 2024 Charity 2024 Group 2023 Charity 2023 £’000 £’000 £’000 £’000 95 95 19 19 (95) (95) (19) (19) 1,758 1,758 95 95 |
|---|---|
| 1,758 1,758 95 95 |
Deferred income is made up of grant and educational funding received in advance.
28
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
21. Analysis of charitable funds – Group
| Analysis of Fund movements Unrestricted Funds: Designated Funds: Building and equipment fund Tangible fixed asset fund Charities and risk fund Total designated funds General funds Revaluation reserve Total Unrestricted funds Restricted funds Nursery Building Fund Student Bursary Fund Forest School Fund New Care Home Fund Cycle Fund Chapel Fund Youth Club Fund Community Fund Barista Fund Blades for Our Heroes Fund Residences Fund Total restricted funds Endowment funds: Eastfield house land TOTAL FUNDS |
As at 1 September 2023 £’000 Income £’000 Expenditure £’000 Transfers £’000 Gains/(Losses) £’000 As at 31 August 2024 £’000 175 - - (175) - - 2,543 - 161 1,211 - 3,593 1,121 - - (1,121) - - |
|---|---|
| 3,839 - 161 (85) - 3,593 1 12,559 12,086 274 99 847 113 - - (113) - - |
|
| 3,953 12,559 12,247 76 99 4,440 101 - 3 - - 98 68 21 2 (24) - 63 2 - 2 - - - 10 - - - - 10 9 - 9 - - - 2 - - - - 2 13 13 - 41 - - (41) - - 13 - 2 (11) - - 1 - 1 - - - 14 - 2 - - 12 |
|
| 274 21 34 (76) - 185 581 - 9 - - 572 |
|
| 4,808 12,580 12,290 - 99 5,197 |
29
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
21. Analysis of charitable funds – Group (continued)
| Analysis of Fund movements Unrestricted Funds: Designated Funds: Building and equipment fund Tangible fixed asset fund Charities and risk fund Total designated funds General funds Revaluation reserve Pension reserve Total general funds Total Unrestricted funds Restricted funds Nursery Building Fund Student Bursary Fund Forest School Fund New Care Home Fund Technology Fund Cycle Fund Chapel Fund Youth Club Fund Community Fund IT Equipment Fund Barista Fund Blades for Our Heroes Fund Residences Fund Turkish Project Fund Erasmus Project Fund Total restricted funds Endowment funds: Eastfield house land TOTAL FUNDS |
As at 1 September 2022 £000 Income £000 Expenditure £000 Transfers £000 Gains/(Losses) £000 As at 31 September 2023 £000 175 - - - - 175 1,946 - 74 671 - 2,543 1,300 - - (179) - 1,121 |
|---|---|
| 3,421 - 74 492 - 3,839 (103) 10,465 10,040 (265) (56) 1 337 - - (224) - 113 158 - - - (158) - |
|
| 392 10,465 10,040 (489) (214) 114 |
|
| 3,813 10,581 10,114 3 (331) 3,953 104 - 3 - - 101 68 11 11 - - 68 2 - - - - 2 10 - - - - 10 2 - 2 - - - 9 - - - - 9 2 - - - - 2 13 - - - - 13 30 29 18 - - 41 13 - 13 - - - 10 4 1 - - 13 1 - - - - 1 16 - 2 - - 14 24 8 40 8 - - - - 11 (11) - - |
|
| 304 52 79 (3) - 274 |
|
| 584 - 3 - - 581 |
|
| 4,701 10,633 10,196 - (331) 4,808 |
30
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
21. Analysis of charitable funds – Group (continued)
The unrestricted funds are available to be spent for any of the purposes of the charity.
Designated Funds
General Fund
This is the operating fund of the Trust.
Tangible Fixed Asset Fund
This is a designated fund representing the unexpired depreciation on unrestricted fixed assets. It is not available for direct expenditure on charitable activities.
Charities and risk fund
This was a designated fund of £1.7m which would be used for the purpose of site redevelopment, to enable substantial and timeous refurbishment of the site/building.
Building and Equipment Fund represents funds intended for expansion of facilities used for educational and/or vocational purposes.
Revaluation Reserve represented the surplus of market value over cost on investments at the balance sheet date.
Pension Reserve tracks the defined benefit pension position. More detail is included in note 26.
Restricted funds comprise:
Nursery Building Fund represents a grant towards the costs of building works to the nursery
Student Bursary Fund represents grants for pupils in hardship
Forest School Fund represents grants towards the creation of an outdoor learning centre for the nursery
New Care Home Fund re presents donations towards our appeal to funding a new care home
The Technology Fund represents grants towards the cost of new technology equipment
The Cycle Fund represents grants towards the cost of disabled cycles and equipment
The Chapel Fund represents grants towards the renovation of the school chapel
The Youth Club Fund represents grants towards the cost of running youth clubs
The Community Fund represents grants towards the cost of running community events
The IT Equipment Fund represents grants to purchase IT equipment
The Barista Fund represents a grant to purchase barista equipment
The Blades for Our Heroes Fund represents monies raised for an ex-army Vet.
The Residences Fund represents grants to refurbish lodges
The Turkish Project Fund is a project for the spread the sign project team.
31
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
21. Analysis of charitable fund – Group (continued)
The Erasmus Fund is a project for the spread the sign project team.
Endowment funds comprise:
Eastfield house land represents funds held by Doncaster Deaf Trust Endowment, of which Doncaster Deaf Trust is the sole trustee.
22. Net assets over funds – Group
| As at 31 March 2024: Tangible Fixed assets Investments Debtors Bank & Cash Creditors |
Unrestricted Funds £’000 3,593 392 2,314 706 (2,565) 4,440 |
Restricted Funds £’000 98 - - 87 - 185 |
Endowment Funds £’000 572 - - - - 572 |
Total 2024 £’000 4,263 392 2,314 793 (2,565) |
|---|---|---|---|---|
| 5,197 |
| As at 31 March 2023: Tangible Fixed assets Investments Debtors Bank & Cash Creditors |
Unrestricted Funds £’000 2,543 1,278 339 342 (549) 3,953 |
Designated Funds £’000 110 - - 164 - 274 |
Restricted Funds £’000 581 - - - - 581 |
Total 2023 £’000 3,234 1,278 339 506 549 |
|---|---|---|---|---|
| 4,808 |
32
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
| 23. Reconciliation of net income/(expenditure) to net cash | 23. Reconciliation of net income/(expenditure) to net cash | flow from operating activities | flow from operating activities | flow from operating activities |
|---|---|---|---|---|
| Group | Charity | Group | Charity | |
| 2024 | 2024 | 2023 | 2023 | |
| £’000 | £’000 | £’000 | £’000 | |
| Net income for the year per the | 665 | 665 | 382 | 382 |
| statement of financial activities | ||||
| Adjustments for: | ||||
| Expenditure attributable to endowment | 9 | 9 | 3 | 3 |
| Losses on investments | 99 | 99 | 56 | 56 |
| Investment income received | (33) | (33) | (35) | (35) |
| Depreciation charges | 161 | 161 | 93 | 93 |
| FRS 102 pension adjustment | (276) | (276) | (117) | (117) |
| Increase in debtors | (1,975) | (1,975) | (46) | (46) |
| Increase in creditors | 2,020 | 2,020 | 39 | 39 |
| Net cash provided by/(used in) | 670 | 670 | 375 | 375 |
| operating activities | ||||
| 24. Analysis of cash and cash equivalents | ||||
| Group | Charity | Group | Charity | |
| 2024 | 2024 | 2023 | 2023 | |
| £’000 | £’000 | £’000 | £’000 | |
| Cash at bank and in hand | 793 | 793 | 506 | 506 |
| Total cash and cash equivalents | 793 | 793 | 506 | 506 |
25. Operating lease commitments
At the reporting end date, the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows;
| Group | Charity | Group | Charity | |
|---|---|---|---|---|
| 2024 | 2024 | 2023 | 2023 | |
| £’000 | £’000 | £’000 | £’000 | |
| Within one year | 31 | 31 | 36 | 36 |
| Between one and five years | 37 | 37 | 53 | 53 |
| After 5 years | 6 | 6 | 5 | 5 |
| 74 | 74 | 94 | 94 |
33
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
26. Pension Commitments
The charity’s employees belong to two principal pension schemes: the Teachers’ Pension Scheme England and Wales (TPS) for academic and related staff; and the local government pension scheme (LGPS) for non-teaching staff, which is manger by the South Yorkshire Pension Fund (SYPS). Both are multi-employer defined benefit schemes.
The charity also operates a defined contribution scheme in compliance with the auto enrolment provisions. The amounts outstanding under this scheme at the year end were £nil (2023: £Nil).
Teachers Pension Scheme
The teachers Pensions Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for full-time teachers and from 1 January 2007, automatic for teachers in part-time employment following appointment or a change of contract, although they can opt out.
The TPS is an unfunded scheme and members contribute on a ‘pay as you go’ basis – these contributions along with those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by parliament.
Valuation of the Teachers Pension Scheme
T he Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (valuations and Employer Cost Cap) Directions 2014 published by HM Treasury. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:
-
Employer contribution rates set at 23.68% of pensionable pay (including a 0.08% administration levy)
-
Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £218,100 million, and notional asses (estimated future contributions together with the notional investments held at valuation date) f £198,100 million giving a notional past service deficit of £22,000 million.
-
The SCAPE rate, set my HMT, is used to determine the notional investment return. The current SCAPE rate in 2.4% above the rate of CPI. Assumed real rate of return is 2.4% in excess of prices and 2 % in excess of earnings. The rate of real earnings growth is assumed to be 2.2%. The assumed nominal rate of return including earnings growth is 4.45%.
The employers pension cost paid to TPS in the period amounted to £505,164 (2023: £420,263) and at the year-end £60,986 (2023: £46,683) was accrued in respect of contributions to this scheme.
A copy of the valuation the valuation report and supporting documentation is on the Teachers Pensions Website.
Under the definitions set by FRS 102, the TPS is a multi-employer pension scheme. The charity has accounted for it’s contributions to the scheme as if it were a defined contribution scheme. The charity has set out above the information available on the scheme.
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Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
26. Pension Commitments (continued)
Local Government Pension Scheme
The South Yorkshire pension scheme (SYPS) is a statutory, contributory, defined benefit scheme, governed by the local government pensions Regulations. The SYPS is a funded scheme ad every three years the schemes actuaries conduct a formal actuarial review of the SYPS with the aim of specifying the level of future contributions. The latest actuarial valuation was carried out on 3 March 2022 and identified the employer contributions going forward.
Although the triennial valuation is the effective figure used to derive future contributions it is not the figure disclosed in the charitable company’s balance sheet. Instead, in accordance with FRS 102, a separate valuation is carried out annually by the scheme’s actuaries at the accounting date and this is disclosed in the accounts. This annual actuarial valuation identified a surplus of £2,550,000 on 31 August 2024, based on the actuarial assumptions set out above. However, this surplus is not recognised in the balance sheet as the trust in unable to recover this surplus from the pension scheme.
Pension contributions of £42,425 (2023: £46,740) were outstanding at the year end.
The major assumptions made by the actuary in valuing the scheme are as follows:
| 2024 | 2023 | |
|---|---|---|
| % p. a | % p. a | |
| Inflation/Pension Increase Rate | 2.65 | 3.05 |
| Salary Increase Rate | 3.25 | 3.65 |
| Discount rate | 4.95 | 5.25 |
Life expectancy is based on the Fund's VitaCurves with improvements in line with the CMI 2023 model, with a 15% weighting of 2023 (and 2022) data, a 0% weighting of 2021 (and 2020) data, standard smoothing (Sk7), initial adjustment of 0.25% and a long term rate of improvement of 1.5% p.a. for both males and females. Based on these assumptions, the average future life expectancies at age 65 for the Employer are summarised below:
| Current pensioners Future pensioners The net pension asset was: Estimated employer assets Present value of scheme liabilities Net pension asset |
Males Females 20.5 years 23.6 years 21.3 years 25.0 years 2024 2023 £’000 £’000 16,780 15,468 (14,230) (13,715) |
|---|---|
| 2,550 1,753 |
There are no unfunded liabilities for which provision needs to be made.
35
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
26. Pension Commitments (continued)
| FRS102 –Statement of Financial Activities disclosure: Current service cost Contributions by employer Pension service cost provision Reconciliation of fair value of scheme assets: Opening fair value of scheme assets Expected return on assets Contributions by members Contributions by employer Estimated benefits paid Remeasurements: Return on plan assets Other experience Reconciliation of defined benefit obligation: Opening defined benefit obligation Current service cost Interest cost Contributions by members Remeasurements Benefits/transfers paid Curtailment of surplus Amounts recognised in Other Gains & Losses Remeasurements: Changes in financial assumptions Changes in demographic assumptions Other experience Return on assets Curtailment of surplus |
2024 £’000 (247) 426 179 2024 £’000 15,468 808 92 426 (674) 660 - 16,780 2024 £’000 (15,468) (247) (711) (92) (139) 674 (797) (16,780) 2024 £’000 258 29 (426) 660 (797) (276) |
2023 £’000 (353) 461 |
|
|---|---|---|---|
| 108 | |||
| 2023 £’000 15,270 648 89 461 (584) (1,075) 659 |
|||
| 15,468 | |||
| 2023 £’000 (15,112) (353) (639) (89) 1,894 584 (1,753) |
|||
| (15,468) | |||
| 2023 £’000 3,096 128 (671) (1,075) (1,753) |
|||
| (275) |
36
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
27. Capital Commitments
| Commitments contracted for at 31 August |
Group Charity Group Charity 2024 2024 2023 2023 £’000 £’000 £’000 £’000 478 478 - - |
|---|---|
| 478 478 - - |
28. Judgements and key sources of estimation and uncertainty
In the application of the company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Depreciation
Fixed assets are depreciated over the useful life of assets. The useful life of the fixed assets are based on the knowledge of senior management, with reference to the assets expected useful life.
Pension liability
The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 22, will impact the carrying amount of the pension liability. Furthermore, a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2023 has been used by the actuary in valuing the pensions liability at 31 August 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.
Allocation of expenditure between activities
Support costs are allocated between charitable activities and governance based on the time spent by senior management on undertaking the charity’s activities.
Leases
The determination whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
Impairment of fixed assets
The determination whether there are indicators of impairment of the tangible assets. Factors taken into consideration in reach such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
37
Docusign Envelope ID: 3934B278-588C-4832-935D-E3AA87FD211ADocusign Envelope ID: 9C0E9DD3-BF79-45BE-A747-34E9CFB46001
DONCASTER DEAF TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
29. Prior year adjustment
It became apparent that costs previously disclosed as direct costs were actually support costs and, as such, an amount of £4,094k has been reclassified. There is no overall impact on the previously reported net surplus or net assets. Details of the disclosure are included within note 12.
38