**REGISTERED CHARITY NUMBER: 1092273** 

Report of the Trustees and 

Unaudited Financial Statements for the Year Ended 31 August 2024 

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 2024 

|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|3|
|Independent Examiner's Report||4||
|Statement of Financial Activities||5||
|Balance Sheet||6||
|Notes to the Financial Statements|7|to|12|
|Detailed Statement of Financial Activities||13||





New Maranatha Christian School Trust 

## Report of the Trustees 

## for the Year Ended 31 August 2024 

The trustees present their report with the financial statements of the charity 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 (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 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 their potential and are equipped 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 based on assessed financial need, ensuring access is not limited by economic circumstances. Many 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. 

## **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. Therefore, we want our school to be accessible to families and students from all walks of life. This means that our fees structure is at a level which makes every effort to ensure education is affordable. However, the school is aware that some families may have difficulty in paying these fees, as such it provides bursaries for children whose families are unable to meet the full cost of their education. By providing a fully rounded education to a high standard the school is able to ensure each student fulfils their potential, in turn, enabling them to make a useful contribution to society as a whole. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

During the year, the school had between 70 and 90 pupils. The school has continued to invest in employing more experienced and qualified teaching staff, with a continued offering to support staff wishing to progress their career. The school successfully completed the Independent Schools Inspectorate (ISI) inspection, which affirmed the quality of education and care provided. After the year-end, the school navigated the complexities of VAT registration as part of the evolving operational responsibilities. In addition, policies and procedures have been reviewed and, where necessary, updated to reflect latest regulations and advice. 

The school continues to actively collaborate with other charitably run Christian schools in the region to share best practice, resources and opportunities for students to broaden their networks. The trustees are confident that safeguarding is prioritised across the school and continues to work closely with the local authority where appropriate for Safeguarding guidance and support. The school continued to operate from premises that are provided by a beneficiary on a low-cost basis. These premises are provided on a long-term lease which was renewed in academic year 24/25. 

During the year L Morava (July 2024) resigned as Trustee. I Raine and S Egas-Kitchener were appointed as trustees (Sept 24). The trustees are hoping to appoint further trustees in the next year. 

## **FINANCIAL REVIEW** 

## **Financial position** 

During the year ended 31 August 2024, the school received total income of £475,121 (2023: £425,686), primarily from school fees, individual donations, fundraising events and gifts to the bursary fund. Expenditure totalled £425,413, resulting in a net income of £49,708. The school received over £100k in gifts and donations in the year, with a large number of parents gifting some or all of their deposits to help support the school. 

Despite a significant increase in gifts year on year, the school ended the financial year with only £3,514 in the bank. Cash-flow continues to be a challenge for the school. The Trust is ultimately sustained on the basis of charitable gifts and the school has explicit support from a beneficiary and from parents which supports the going concern status. This gives the Trustees confidence that the school can meet its financial obligations. We expect to receive further gifts in 2024/25 to support the operation of the school and the trustees aim to build a cash surplus over the next 3-5 years. 

1 



New Maranatha Christian School Trust 

## Report of the Trustees 

## for the Year Ended 31 August 2024 

## **FINANCIAL REVIEW** 

## **Reserves policy** 

The school has a reserves policy which targets a reserves balance equivalent to 3 months of operational expenditure (c. £100,000). As at 31 August 2024, the school did not meet this target. The trustees accept that the reserves target is a goal and not yet reached but are aiming to achieve this policy in the next 3 to 5 years. 

## **FUTURE PLANS** 

The Trust is aiming to meet the educational needs of more families and children in future years. The school continues to communicate with churches across Swindon and, through the website, reach parents across the UK to highlight the opportunities the school provides. The trust's short-term aim is to reach the capacity of the current premises with a vision to extend the model and provide Christian Education to more families and pupils. The Trust recognises the importance of investing in the teaching staff and will continue to prioritise their professional development, empowering them to deliver excellent education that meets the diverse needs of the student body. 

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

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

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

The trustees are appointed at general meetings of the charity. 

## **Risk management** 

The trustees have assessed the major risks to which the school is exposed and, where appropriate, have implemented systems to manage those risks. 

A risk register is maintained, reviewed and updated by the trustees. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Charity number** 

1092273 

## **Principal address** 

Queenlaines Farm Sevenhampton Wiltshire SN6 7SQ 

## **Trustees** 

B Pike (Chair) Agwu Egas-Kitchener (appointed 1.9.24) S Hook (appointed 1.4.24) I Raine (appointed 1.9.24) 

## **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. 

2 



New Maranatha Christian School Trust 

## Report of the Trustees 

## for the Year Ended 31 August 2024 

Approved by order of the board of trustees on 28 April 2025 and signed on its behalf by: 

B Pike - Trustee 

3 



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 2024. 

## **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 Institute of Chartered Accountants in England and Wales, 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 

28 April 2025 

4 



New Maranatha Christian School Trust 

## Statement of Financial Activities 

## for the Year Ended 31 August 2024 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>123,809<br>**Charitable activities**<br>Education<br>295,991<br>Investment income<br>2<br>16<br>Other income<br>242<br>**Total**<br>420,058<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Education<br>366,860<br>**NET INCOME/(EXPENDITURE)**<br>53,198<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>(66,366)<br>**TOTAL FUNDS CARRIED FORWARD**<br>(13,168)|Restricted<br>funds<br>£<br>9,503<br>45,560<br>-<br>-<br>55,063<br>58,553<br>(3,490)<br>3,879<br>389|31.8.24<br>Total<br>funds<br>£<br>133,312<br>341,551<br>16<br>242<br>475,121<br>425,413<br>49,708<br>(62,487)<br>(12,779)|31.8.23<br>Total<br>funds<br>£<br>47,337<br>368,140<br>20<br>10,189<br>425,686<br>454,190<br>(28,504)<br>(33,983)<br>(62,487)|
|---|---|---|---|



The notes form part of these financial statements 

5 



New Maranatha Christian School Trust 

## Balance Sheet 

## 31 August 2024 

||||||31.8.24|31.8.23|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||Total|Total|
|||fund|funds||funds|funds|
||Notes|£|£||£|£|
|**FIXED ASSETS**|||||||
|Tangible assets|6|5,936|389||6,325|7,061|
|**CURRENT ASSETS**|||||||
|Stocks|7|2,500||-|2,500|10,000|
|Debtors|8|23,818||-|23,818|6,503|
|Cash at bank||3,514||-|3,514|3,979|
|||29,832||-|29,832|20,482|
|**CREDITORS**|||||||
|Amounts falling due within one year|9|(48,936)||-|(48,936)|(90,030)|
|**NET CURRENT ASSETS/(LIABILITIES)**||(19,104)||-|(19,104)|(69,548)|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||(13,168)|389||(12,779)|(62,487)|
|**NET ASSETS/(LIABILITIES)**||(13,168)|389||(12,779)|(62,487)|
|**FUNDS**|11||||||
|Unrestricted funds|||||(13,168)|(66,366)|
|Restricted funds|||||389|3,879|
|**TOTAL FUNDS**|||||(12,779)|(62,487)|



The financial statements were approved by the Board of Trustees and authorised for issue on 28 April 2025 and were signed on its behalf by: 

B Pike - Trustee 

The notes form part of these financial statements 

6 



New Maranatha Christian School Trust 

Notes to the Financial Statements 

for the Year Ended 31 August 2024 

## **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... 

7 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

## **2. INVESTMENT INCOME** 

Deposit account interest 


**----- Start of picture text -----**<br>
31.8.24 31.8.23<br>£ £<br>16 20<br>**----- End of picture text -----**<br>


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

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## **4. STAFF COSTS** 

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

## **5.** 

|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>43,977<br>**Charitable activities**<br>Education<br>368,140<br>Investment income<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)|31.8.24<br><br>11<br>3<br>14<br>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>14<br>2<br>16<br>Total<br>funds<br>£<br>47,337<br>368,140<br>20<br>10,189<br>425,686<br>454,190<br>(28,504)<br>(33,983)<br>(62,487)|
|---|---|---|



continued... 

8 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

## **6. TANGIBLE FIXED ASSETS** 

|**6.**|**TANGIBLE FIXED ASSETS**|||||||
|---|---|---|---|---|---|---|---|
|||Fixtures||||||
|||and|||Motor|School||
|||fittings|||vehicles|equipment|Totals|
|||£|||£|£|£|
||**COST**|||||||
||At 1 September 2023 and 31 August 2024|1,956|||10,587|44,841|57,384|
||**DEPRECIATION**|||||||
||At 1 September 2023|1,942|||10,178|38,203|50,323|
||Charge for year|||4|103|629|736|
||At 31 August 2024|1,946|||10,281|38,832|51,059|
||**NET BOOK VALUE**|||||||
||At 31 August 2024||10||306|6,009|6,325|
||At 31 August 2023||14||409|6,638|7,061|
|**7.**|**STOCKS**|||||||
|||||||31.8.24|31.8.23|
|||||||£|£|
||Stocks|||||2,500|10,000|
|**8.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||
|||||||31.8.24|31.8.23|
|||||||£|£|
||Trade debtors|||||10,838|-|
||Prepayments|||||12,980|6,503|
|||||||23,818|6,503|
|**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN**||**ONE YEAR**|||||
|||||||31.8.24|31.8.23|
|||||||£|£|
||Trade creditors|||||34,624|66,573|
||Taxation and social security|||||-|5,537|
||Other creditors|||||14,312|17,920|
|||||||48,936|90,030|



continued... 

9 



New Maranatha Christian School Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

## **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 Uniform Fund<br>Early Years Development<br>School Development Fund<br>Assistant Teacher<br>Utilities<br>**TOTAL FUNDS**|At 1.9.23<br>£<br>(66,366)<br>3,360<br>401<br>118<br>3,879<br>(62,487)<br>Incoming<br>resources<br>£<br>420,058<br>5,325<br>-<br>72<br>45,806<br>-<br>1,200<br>2,660<br>55,063<br>475,121|31.8.24<br>31.8.23<br>£<br>£<br>-<br>15,000<br>Net<br>movement<br>At<br>in funds<br>31.8.24<br>£<br>£<br>53,198<br>(13,168)<br>(3,360)<br>-<br>(100)<br>301<br>(30)<br>88<br>(3,490)<br>389<br>49,708<br>(12,779)<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(366,860)<br>53,198<br>(8,685)<br>(3,360)<br>(100)<br>(100)<br>(72)<br>-<br>(45,806)<br>-<br>(30)<br>(30)<br>(1,200)<br>-<br>(2,660)<br>-<br>(58,553)<br>(3,490)<br>(425,413)<br>49,708|
|---|---|---|



## **11. MOVEMENT IN FUNDS** 

continued... 

10 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

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

## **Comparatives for movement in funds** 

|At 1.9.22<br>£<br>**Unrestricted funds**<br>General fund<br>(34,676)<br>**Restricted funds**<br>Bursary<br>-<br>School Equipment<br>535<br>School Development Fund<br>158<br>693<br>**TOTAL FUNDS**<br>(33,983)<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>422,326<br>**Restricted funds**<br>Bursary<br>3,360<br>School Equipment<br>-<br>School Development Fund<br>-<br>3,360<br>**TOTAL FUNDS**<br>425,686|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)|
|---|---|



A current year 12 months and prior year 12 months combined position is as follows: 

||||Net||
|---|---|---|---|---|
||||movement|At|
||At 1.9.22||in funds|31.8.24|
|||£|£|£|
|**Unrestricted funds**|||||
|General fund|(34,676)||21,508|(13,168)|
|**Restricted funds**|||||
|School Equipment||535|(234)|301|
|School Development Fund||158|(70)|88|
|||693|(304)|389|
|**TOTAL FUNDS**|(33,983)||21,204|(12,779)|



continued... 

11 



New Maranatha Christian School Trust 

Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

## **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 Uniform Fund<br>Early Years Development<br>School Development Fund<br>Assistant Teacher<br>Utilities<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>842,384<br>8,685<br>-<br>72<br>45,806<br>-<br>1,200<br>2,660<br>58,423<br>900,807|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(820,876)<br>21,508<br>(8,685)<br>-<br>(234)<br>(234)<br>(72)<br>-<br>(45,806)<br>-<br>(70)<br>(70)<br>(1,200)<br>-<br>(2,660)<br>-<br>(58,727)<br>(304)<br>(879,603)<br>21,204|
|---|---|---|



## **12. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 August 2024. 

## **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. 

- (iv)  Early Years Development Fund 

   - Funds provided to support younger school students. 

- (v)   School Uniform Fund 

   - Funds provided to assist students with the cost of school uniform 

- (vi)  Assistant Teacher Fund 

   - Funds to contribute to the salary for a teachers' assistant. 

- (vii)  Utilities 

Contributions towards the cost of utility charges. 

12 



New Maranatha Christian School Trust 

Detailed Statement of Financial Activities for the Year Ended 31 August 2024 

|Detailed Statement of Financial Activities<br>for the Year Ended 31 August 2024|||
|---|---|---|
||31.8.24|31.8.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|-|3,359|
|Donations|133,312|43,978|
||133,312|47,337|
|**Investment income**|||
|Deposit account interest|16|20|
|**Charitable activities**|||
|School fees|295,991|318,044|
|Swindon Borough Council grant|45,560|50,096|
||341,551|368,140|
|**Other income**|||
|Miscellaneous income|242|10,189|
|**Total incoming resources**|475,121|425,686|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|320,729|338,542|
|Accommodation costs|31,804|32,243|
|Insurance|7,797|6,522|
|Sundries|16,679|19,961|
|Curriculum|19,801|20,369|
|Motor expenses|419|885|
|School trips|5,397|1,218|
|Consultancy fees|8,634|13,908|
||411,260|433,648|
|**Support costs**|||
|**Management**|||
|Office expenses|9,418|13,397|
|Accountancy|3,896|4,620|
|Depreciation of tangible and heritage assets|736|2,355|
||14,050|20,372|
|**Finance**|||
|Bank charges|103|170|
|Total resources expended|425,413|454,190|
|**Net income/(expenditure)**|49,708|(28,504)|



This page does not form part of the statutory financial statements 

13