**REGISTERED CHARITY NUMBER: 1092273** 

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2023 

for 

New Maranatha Christian School Trust 

Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA 



New Maranatha Christian School Trust 

Contents of the Financial Statements for the Year Ended 31 August 2023 

|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|2|
|Independent Examiner's Report||3||
|Statement of Financial Activities||4||
|Balance Sheet||5||
|Notes to the Financial Statements|6|to|11|
|Detailed Statement of Financial Activities||12||





New Maranatha Christian School Trust 

## Report of the Trustees 

## for the Year Ended 31 August 2023 

The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. 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 (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The charity's principal activities comprise the advancement of education for children between the ages of 3 and 18 years together with the provision of adult education classes promoting the Christian Faith, in particular by the provision of a School or Schools based on Christian principles, values and doctrines. 

## **Public benefit** 

Our vision is to be the school of choice for Christian parents who want their children to achieve academic and vocational excellence, developing Godly character and a Biblical worldview in an affordable, loving Christian environment. Our school supports families and students from a diverse range of backgrounds. By providing a fully rounded education to a high standard the school is able to ensure each student fulfils the potential they have been given equipes them to make a useful contribution to society as a whole.  For most families the cost of sending their children to the school requires significant sacrifice.  The bursary fund assists in meeting the public benefit requirement by providing funds for students from low income families.  All staff work at lower pay scales than comparative roles in state schools in order to support the school in fulfilling its vision and ensure the school is financially accessible to as many families as possible. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

During this period the school had between 70 and 85 pupils ranging from 3 to 17 years old.  We have continued to invest in employing more experience and qualified teaching staff.  We continued to support staff studying for teaching qualifications via Bradford College in the 2022/23 academic year.  Other staff members completed apprenticeships to assist them in the performance of their duties. 

We successfully prepared for an Independent School Inspection (ISI) and have made significant improvements in the administration, safeguarding, curriculum and communications.  A school improvement plan was developed and implemented during the year.  All policies and procedures have been reviewed and, where necessary, updated to reflect latest regulations and advice.  The school remains part of the Independent Schools Association (ISA) which is affiliated to the Independent Schools Inspectorate (ISI) and with that subject to their inspection regime. We were not inspected by ISI during this period but expect a visit in the 2023/24 academic calendar. 

We are also actively collaborating with other charitably run Christian schools in our region to share best practice, resources and opportunities for students to broaden their networks. 

The trustees are confident that the school operates to high education and welfare standards. Safeguarding is prioritised across the operation.  We continue to work closely with the local authority where appropriate for Safeguarding guidance and support.  There were no significant Health and Safety incidents, and the school continues to ensure routine inspections are carried out and that we are compliant to all relevant legislation and guidance. 

Parents continue to show high levels of satisfaction with the school and over 80% of the parents are regularly contributing to the school through a 3 hour per family volunteering commitment. 

The school continued to operate from premises that are provided by a beneficiary on a very low-cost basis.  These premises are provided on a long-term lease. 

The Trust’s financial status is poor, and the school operated at a loss during this period. The Trust is sustained on the basis of charitable gifts.  Despite the loss for the current financial year, the Trust have explicit support from a beneficiary and from parents.  This gives the Trustees confidence that it can meet its financial obligations.   We expect to receive further gifts in 2023/24 to support the operation of the school and the trustees aim to build a cash surplus by 2025/26 with the addition of new pupils, further charitable gifts and increases to fees. 

During the year D Perrot (July 2022), H Storm (July 2023) and N Frost(July 2023) resigned as Trustees.  B Agwu (Oct 2022) was appointed as a trustee.  Additional trustees will be appointed in 2023/24.  We continue to encourage parental involvement in the running of the school and have launched a Friends of Maranatha support group. 

2 



## **FUTURE PLANS** 

The Trust is ambitious to meet the educational needs of more families and children. We enjoy a good relationship with the parents of our students, and we will continue to work towards growing the connection between us.  We continue to communicate to churches across Swindon and through our website reach parents across the UK to highlight the opportunities the school provides.  Our short-term aim is to reach the capacity of the current premises and our vision is to extend the model and provide Christian Education to more families and pupils. 

There is a significant threat to our work in the form of the proposed addition of VAT should the Labour party be elected to govern. They have made it a key part of their proposed legislation intentions and along with many other smaller Independent Schools whose fees are low we are vulnerable to this significant increase in our costs. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust drawn up on 10th May 2002 

## **Recruitment and appointment of new trustees** 

The trustees are appointed at general meetings of the charity. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1092273 

## **Principal address** 

Queenlaines Farm Sevenhampton Wiltshire SN6 7SQ 

## **Trustees** 

L Morava (Chair) H W Storm (to July 2023) N Frost (to July 2023) B Pike B Agwu (from Oct 2022) 

## **Independent Examiner** 

Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA 

## **Advisers** 

Bankers 

The charity's bankers are Lloyds TSB PLC, 5 High Street, Swindon, Wiltshire. 

Approved by order of the board of trustees on 30 June 2024 and signed on its behalf by: 

B. Pike – Trustee 

2 



Independent Examiner's Report to the Trustees of New Maranatha Christian School Trust 

## **Independent examiner's report to the trustees of New Maranatha Christian School Trust** 

I report to the charity trustees on my examination of the accounts of New Maranatha Christian School Trust (the Trust) for the year ended 31 August 2023. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the **ERROR - relevant professional body must be completed**, which is one of the listed bodies. 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Christopher Vaughan 

Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA 

30 June 2024 

3 



New Maranatha Christian School Trust 

## Statement of Financial Activities 

for the Year Ended 31 August 2023 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>94,073<br>**Charitable activities**<br>Education<br>318,044<br>Investment income<br>2<br>20<br>Other income<br>10,189<br>**Total**<br>422,326<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Education<br>454,016<br>**NET INCOME/(EXPENDITURE)**<br>(31,690)<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>(34,676)<br>**TOTAL FUNDS CARRIED FORWARD**<br>(66,366)|Restricted<br>funds<br>£<br>3,360<br>-<br>-<br>-<br>3,360<br>174<br>3,186<br>693<br>3,879|31.8.23<br>Total<br>funds<br>£<br>97,433<br>318,044<br>20<br>10,189<br>425,686<br>454,190<br>(28,504)<br>(33,983)<br>(62,487)|31.8.22<br>Total<br>funds<br>£<br>100,876<br>305,479<br>4<br>7,685<br>414,044<br>409,292<br>4,752<br>(38,735)<br>(33,983)|
|---|---|---|---|



The notes form part of these financial statements 

4 



New Maranatha Christian School Trust 

## Balance Sheet 

## 31 August 2023 

||||||31.8.23|31.8.22|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||Total|Total|
|||fund|funds||funds|funds|
||Notes|£|£||£|£|
|**FIXED ASSETS**|||||||
|Tangible assets|6|6,542|519||7,061|3,864|
|**CURRENT ASSETS**|||||||
|Stocks|7|10,000||-|10,000|10,000|
|Debtors|8|6,503||-|6,503|2,387|
|Cash at bank||619|3,360||3,979|23,089|
|||17,122|3,360||20,482|35,476|
|**CREDITORS**|||||||
|Amounts falling due within one year|9|(90,030)||-|(90,030)|(73,323)|
|**NET CURRENT ASSETS/(LIABILITIES)**||(72,908)|3,360||(69,548)|(37,847)|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||(66,366)|3,879||(62,487)|(33,983)|
|**NET ASSETS/(LIABILITIES)**||(66,366)|3,879||(62,487)|(33,983)|
|**FUNDS**|11||||||
|Unrestricted funds|||||(66,366)|(34,676)|
|Restricted funds|||||3,879|693|
|**TOTAL FUNDS**|||||(62,487)|(33,983)|



The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2024 and were signed on its behalf by: 

B Pike - Trustee 

The notes form part of these financial statements 

5 



New Maranatha Christian School Trust 

Notes to the Financial Statements 

for the Year Ended 31 August 2023 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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. 

Fixtures and fittings -  25% on reducing balance Motor vehicles -  25% on reducing balance School equipment -  25% on reducing balance 

## **Stocks** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

continued... 

6 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued 

for the Year Ended 31 August 2023 

## **2. INVESTMENT INCOME** 

|**INVESTMENT INCOME**|||
|---|---|---|
||31.8.23|31.8.22|
||£|£|
|Deposit account interest|20|4|



## **3. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. 

## **Trustees' expenses** 

There were no  trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. 

## **4. STAFF COSTS** 

The average monthly number of employees during the year was as follows: 

## **5.** 

|<br>Teaching<br>Administration<br>No employees received emoluments in excess of £60,000.<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>97,006<br>**Charitable activities**<br>Education<br>305,479<br>Investment income<br>4<br>Other income<br>7,685<br>**Total**<br>410,174<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Education<br>405,190<br>**NET INCOME/(EXPENDITURE)**<br>4,984<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>(39,660)<br>**TOTAL FUNDS CARRIED FORWARD**<br>(34,676)|31.8.23<br> <br>14<br>2<br>16<br>Restricted<br>funds<br>£<br>3,870<br>-<br>-<br>-<br>3,870<br>4,102<br>(232)<br>925<br>693|31.8.22<br>13<br>2<br>15<br>Total<br>funds<br>£<br>100,876<br>305,479<br>4<br>7,685<br>414,044<br>409,292<br>4,752<br>(38,735)<br>(33,983)|
|---|---|---|



continued... 

7 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued 

for the Year Ended 31 August 2023 

## **6. TANGIBLE FIXED ASSETS** 

|**6.**|**TANGIBLE FIXED ASSETS**|||||||
|---|---|---|---|---|---|---|---|
|||Fixtures||||||
|||and|||Motor|School||
|||fittings|||vehicles|equipment|Totals|
|||£|||£|£|£|
||**COST**|||||||
||At 1 September 2022|1,956|||10,587|39,289|51,832|
||Additions|||-|-|5,552|5,552|
||At 31 August 2023|1,956|||10,587|44,841|57,384|
||**DEPRECIATION**|||||||
||At 1 September 2022|1,937|||10,041|35,990|47,968|
||Charge for year|||5|137|2,213|2,355|
||At 31 August 2023|1,942|||10,178|38,203|50,323|
||**NET BOOK VALUE**|||||||
||At 31 August 2023||14||409|6,638|7,061|
||At 31 August 2022||19||546|3,299|3,864|
|**7.**|**STOCKS**|||||||
|||||||31.8.23|31.8.22|
|||||||£|£|
||Stocks|||||10,000|10,000|
|**8.**|**DEBTORS: AMOUNTS FALLING**|**DUE WITHIN ONE YEAR**||||||
|||||||31.8.23|31.8.22|
|||||||£|£|
||Prepayments|||||6,503|2,387|
|**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN**||**ONE YEAR**|||||
|||||||31.8.23|31.8.22|
|||||||£|£|
||Trade creditors|||||66,573|67,816|
||Taxation and social security|||||5,537|4,655|
||Other creditors|||||17,920|852|
|||||||90,030|73,323|



continued... 

8 



New Maranatha Christian School Trust 

## Notes to the Financial Statements - continued 

for the Year Ended 31 August 2023 

## **10. LOANS** 

An analysis of the maturity of loans is given below: 

|Amounts falling due within one year on demand:<br>Other loans<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Bursary<br>School Equipment<br>School Development Fund<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as follows:<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Bursary<br>School Equipment<br>School Development Fund<br>**TOTAL FUNDS**|At 1.9.22<br>£<br>(34,676)<br>-<br>535<br>158<br>693<br>(33,983)<br>Incoming<br>resources<br>£<br>422,326<br>3,360<br>-<br>-<br>3,360<br>425,686|31.8.23<br>31.8.22<br>£<br>£<br>15,000<br>-<br>Net<br>movement<br>At<br>in funds<br>31.8.23<br>£<br>£<br>(31,690)<br>(66,366)<br>3,360<br>3,360<br>(134)<br>401<br>(40)<br>118<br>3,186<br>3,879<br>(28,504)<br>(62,487)<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(454,016)<br>(31,690)<br>-<br>3,360<br>(134)<br>(134)<br>(40)<br>(40)<br>(174)<br>3,186<br>(454,190)<br>(28,504)|
|---|---|---|



## **11. MOVEMENT IN FUNDS** 

continued... 

9 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued 

for the Year Ended 31 August 2023 

## **11. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|||||Net|||
|---|---|---|---|---|---|---|
||||movement|||At|
||At 1.9.21||in funds||31.8.22||
|||£||£||£|
|**Unrestricted funds**|||||||
|General fund||(39,660)||4,984||(34,676)|
|**Restricted funds**|||||||
|School Equipment||714||(179)||535|
|School Development Fund||211||(53)||158|
|||925||(232)||693|
|**TOTAL FUNDS**||(38,735)||4,752||(33,983)|
|Comparative net movement in funds, included|in the above are as follows:||||||
||Incoming||Resources||Movement||
||resources||expended||in funds||
|||£||£||£|
|**Unrestricted funds**|||||||
|General fund||410,174|(405,190)|||4,984|
|**Restricted funds**|||||||
|Bursary||3,870||(3,870)||-|
|School Equipment||-||(179)||(179)|
|School Development Fund||-||(53)||(53)|
|||3,870||(4,102)||(232)|
|**TOTAL FUNDS**||414,044|(409,292)|||4,752|
|A current year 12 months and prior year 12 months combined position is as follows:|||||||
|||||Net|||
||||movement|||At|
||At 1.9.21||in funds||31.8.23||
|||£||£||£|
|**Unrestricted funds**|||||||
|General fund||(39,660)|(26,706)|||(66,366)|
|**Restricted funds**|||||||
|Bursary||-||3,360||3,360|
|School Equipment||714||(313)||401|
|School Development Fund||211||(93)||118|
|||925||2,954||3,879|
|**TOTAL FUNDS**||(38,735)|(23,752)|||(62,487)|



continued... 

10 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued 

for the Year Ended 31 August 2023 

## **11. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Bursary<br>School Equipment<br>School Development Fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>832,500<br>7,230<br>-<br>-<br>7,230<br>839,730|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(859,206)<br>(26,706)<br>(3,870)<br>3,360<br>(313)<br>(313)<br>(93)<br>(93)<br>(4,276)<br>2,954<br>(863,482)<br>(23,752)|
|---|---|---|



## **12. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 August 2023. 

## **13. RESTRICTED FUNDS** 

The charity's restricted funds have the following purposes - 

(i)    Bursary Fund 

Provision for assistance with school fees for disadvantaged students. 

- (ii)    School Equipment Fund 

   - Funds made available for the provision of school equipment. 

- (iii)   School Development Fund 

   - Resources employed for improving and developing the school premises. 

11 



New Maranatha Christian School Trust 

|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 August 2023|||
||31.8.23|31.8.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|47,337|45,373|
|Grants|-|15,000|
|Grant -Swindon Borough Council|50,096|40,503|
||97,433|100,876|
|**Investment income**|||
|Deposit account interest|20|4|
|**Charitable activities**|||
|School fees|318,044|305,479|
|**Other income**|||
|Miscellaneous income|10,189|7,685|
|**Total incoming resources**|425,686|414,044|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|338,542|311,931|
|Accommodation costs|32,243|24,671|
|Insurance|6,522|5,837|
|Sundries|19,961|4,884|
|Curriculum|20,369|17,478|
|Motor expenses|885|1,005|
|Donations and gifts|-|3,870|
|School trips|1,218|1,217|
|Examination fees|-|12,171|
|Publications|-|1,374|
|Consultancy fees|13,908|-|
||433,648|384,438|
|**Support costs**|||
|**Management**|||
|Office expenses|13,397|21,524|
|Accountancy|4,620|852|
|Legal and professional fees|-|1,021|
|Depreciation of tangible and heritage assets|2,355|1,289|
||20,372|24,686|
|**Finance**|||
|Bank charges|170|168|
|Total resources expended|454,190|409,292|
|**Net (expenditure)/income**|(28,504)|4,752|



This page does not form part of the statutory financial statements 

12