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2022-08-31-accounts

Directors
S Gillingham (3*)
M Heath (2*)
C Hoggins (appointed 7 Feb 2022)
S Hurst (appointed 11 July 2022)
N Masom (2)
R McMillan (1) (appointed 7 Feb 2022)
J Munnelly (appointed 10October 2022)
L Perry
C Povey (1)
C Smale (1*,2, 3) (Chair, effective
1 September		 2021)
K Uus (appointed 7 Feb 2022)
TWilkins (1, 2, 3)
J Raca MBE (resigned 8October 2021)
N Bottley (resigned 30October 2021)
A Khawaja (resigned 31 Dec 2021)
E Baines (1,3) (resigned 31 July 2022)
(1) Member of Remuneration 8 Appointments Committee
(2) Member of Audit 8 Finance Committee
(3) Member ofTransformation
Project Steering
*Chair of relevant. Board sub-committee		 Group
Chief Executive Officer J McCall (resigned 20 May 2022)
B Leigh (appointed 23 May 2022)
Executive Leadership Team M Ascroft Director of Finance 8 Strategy (resigned
3 Nov 2022)
N Giles Director of People 8 Workplace
J McCaffrey Director ofCare Services
K Duggan Director ofService Development
BWhite Director of Education
BBoddice Director of Finance (appointed 12Dec
2022)
Address and Registered Office Stanley Road
Cheadle
Hulme
Cheadle
Cheshire SK86RQ

Bankers Royal Bank ofScotland Royal Bank ofScotland Royal Bank ofScotland pic pic
St Ann's Square Branch, PO Box320
StAnn Street
Manchester M60 2SS
Barclays Bank pic
Corporate
Banking
Level 11,20 Chapel Street
Liverpool
L3 9AG
Auditors Mazars LLP
One St Peter's Square
Manchester
M2 3DE
Solicitors Eversheds
Sutherland		 LLP
6 Stanley St
Salford
M3 5GX
Veale Wasbrough Vizards LLP
Narrow Quay House
Narrow Quay
Bristol
BS14QA
Slater Heelis LLP
Suite 2 Oakland House
34 Washway Road
Sale
Cheshire
M33 6FS
Investment Advisers Castlefield
Investment		 Partners LLP
1 Portland Street
Manchester
M1 3BE
Company Registration Number 04216714
Charity Registration Number 1092655

SEASHELL TRUST
CONTENTS Page
Directors'
report,
including
Directors' Strategic		 Report
Statement
of Directors'		 duties in performance ofS172(1)Companies Act 16
Statement
of Directors'		 responsibilities 17
Independent
auditor's		 report 18
Statement
offinancial		 activities 21
Balance sheet 22
Statement
ofcash flows		 24
Notes to the financial statements 25

he Trust ar e as fol lows :
Ke
Risk		 How this risk is mana
ed
A serious safeguarding The Trust places the greatest of importance
to its obligations		 to
incident occurs or is reported ensure the safety and well-being
ofthe children
and young
which causes significant adults
under
its care. However,
the Directors recognise that the
reputational damage to the controls and procedures
that we have
in place to monitor and
Trust, potentially impacting on manage this risk, can be effective
in reducing
this risk, but
the willingness of Local cannot completely
eliminate
it. These key controls and
Authorities to place children procedures
include:
and young adults at the Trust. ~ We have a dedicated
Safeguarding
Board, including
external,
independent
representation;
~ We have a Trust-wide
role ofSafeguarding
Officer;
~ The Trust has a well-established
safeguarding
policy,
practices and reporting
systems
which are reviewed
continually;
~ Progressive
and developmental
safeguarding
training
and development
for all staff;
~ Liaison with External Safeguarding
bodies for best
practice initiatives
and monitoring;
~ Procuring
appropriate
levels of insurance
cover to
mitigate against
any financial
risk that the Trust could
be exposed to in the event of any allegations
or claims;
~ External
reviews of our safeguarding
practices and
procedures,
and
~ Obtaining
expert legal advice and counsel where
considered
appropriate.
Continuing changes in The Trust actively maintains
close and positive
relationships
government policy, which with the education,
health and care teams within
its principal
could result in reduced funding Local Authorities,
to understand
the drivers
impacting
on their
levels, additional regulatory placement
behaviour.
requirements and additional During 2021/22, we have had to manage
increasing
costs such
costs, despite underlying as fuel, energy,
and other general costs due to increased
demand
for		 the Trust's inflation costs. These costs are reflected
in our fee structure
services increasing. going forward to ensure the Trust remains
financially
viable.
In addition,
the Trust has developed
strong
links nationally		 with
sector organisations
such as NASS, NATSPEC, CDC and
NNPCF as well as close working
relationships
with the
Department
for Education.

EASHELL TRUST
Key Risk How this risk is managed
The inability to recruit and We have continued
to implement
our 'People Strategy',
which sets
retain staff with the requisite out a comprehensive
and overarching
plan to address issues
skills to meet the increasingly associated
with staff recruitment,
retention,
reward,
performance
complex needs of our and well-being.
This has included
a number
of initiatives
such as:
students.
This poses a		 ~
Extending
the number
and scope of our management
significant
challenge
to the		 training
programmes;
Trust, that if not adequately ~
Conducted
the Job Evaluation
Review,
including
a revised
addressed
could result
in		 benchmarking
exercise whereby
salaries are compared		 with
staffing shortfalls,
reductions		 external
data;
in the quality of care that the ~
Streamlined
recruitment
processes and actions to increase
Trust provides,
and/ or		 the effectiveness
of recruitment
activity and added extra
additional
costs in addressing		 resource to the recruitment
team;
staffing
shortfalls
by the use
of higher-cost
agency		 ~
Implemented
a significant
uplift
in base pay across the Trust
effective September
2022; and
workers. ~
Continuation
of recruitment
activities beyond the required
staffing complement
for key roles in order to create a
staffing
"buffer" to mitigate the impact of staff absences and
resi
nations.
The Trust is reliant on the Project Transformation
is now firmly
in its implementation
stage
delivery
ofthe site		 with construction
ofthe new school and shared facilities being
redevelopment
in order to		 almost complete.
continue to provide
its on-site
based activities
in the		 The Directors closely monitor the progress
ofthe various elements
medium
term. Delays and		 ofthe project at each Board Meeting.
errors
in delivering
the
redevelopment
will adversely		 The day-to-day
aspects of Project Transformation
are considered
impact the Trust's
ability to		 and managed
by the "Transformation
Project Steering Group", a
achieve
its aims and		 sub-committee
ofthe Board which comprises
a number
of
objectives. Trustees,
members
ofthe Executive,
relevant
Heads ofService
and Specialist Advisors.
This group meets monthly,
with relevant
input from appropriate
professional
advisors. This group reports to the Board of Directors
at each Board Meetin
and more fre
uentl
when re uired.

Un- Endow-
Restricted Restricted ment 2022 2021
Funds Funds Funds Total Total
Note F'000 E'000 E'000 E'000 2'000
INCOME FROM:
Donations
and legacies		 722 1,374 2,096 5,338
Charitable
activities		 17,305 464 17,769 16,762
Other trading
activities		 414 414 191
investments
Other income —profit on
disposal of endowment land 15,113
Total Income 18,446 1,838 20,284 37,406
EXPENDITURE ON:
Raising funds (467) (467) (462)
Charitable
activities		 (18,213) (691) (18,904) (17,440)
Other (61) (61) (104)
Total Expenditure (18,741) (691) (19,432) (18,006)
Net gains on investments
Net (expenditure)l income 4 (295) 1,147 852 19,403
Transfers
between		 funds 931 (3,223) 2,292
Net movement
in funds		 636 (2,076) 2,292 852 19,403
Balances brought forward 2,522 2,492 34,165 39,179 19,776
Balances carried forward 3,158 416 36,457 40,031 39,179

BALANCE SHEET BALANCE SHEET BALANCE SHEET COMPA NY NUMBER: 04 216714
As at 31August 2022
2022 2021
Note E'000 f'000
Fixed assets
Tangible fixed assets 33,066 17,271
33,066 17,271
Current assets
Debtors 2,569 5,077
Cash at bank and in hand 7,883 19,451
10,452 24,528
Creditors: amounts falling due within one year (3,487) (2,620)
Net current assets 6,965 21,908
Total assets less current liabilities and net
assets 40,316 39,179
Creditors: amounts falling due after more
than one year (285)
Net Assets 40,031 39,179
Endowment
funds		 36,457 34,165
Restricted funds 12 416 2,492
Unrestricted
funds
Designated
funds		 13 200 550
Unrestricted
funds		 13 2,958 1,972
Total funds 40,031 39,179

2022 2021
E'000 E'000
Cash flow from operating activities
Net income 852 19,403
Depreciation 1,059 776
(Gains) on investments (3)
Investment
income		 (5) (1)
Gain on sale offixed assets (15,113)
Decrease/(increase)
in debtors		 2,508 (1,928)
(Decrease)
in creditors		 (100) (827)
Net cash inflow from operating activities 4,314 2,307
Cashflows
from investing		 activities
Purchase
of buildings
and other fixed assets		 (15,887) (3,805)
Proceeds on sale offixed assets 16,018
Proceeds from sale of investments 246
Investment
income received		 1
Bank interest received 1
(15,882) 12,461
Net (decrease)/increase
in		 cash before
financing (11,568) 14,768
Net (decrease)/increase
in		 cash &cash
equivalents (11,568) 14,768
Cash at bank and in hand
Balance at beginning
of year		 19,451 4,683
Balance at end of year 7,883 19,451
(Decrease)/increase
in cash in the year		 (11,568) 14,768

2022 2021
F'000 E'000
Reconciliation
of		 net cash flow to
movements in net funds
(Decrease)/increase in cash in the year (11,568) 14,768
Movement in net funds in the year (11,568) 14,768
Balance at beginning
ofyear		 19.451 4,683
Net funds at end ofyear 7,883 19,451
Analysis
of net funds
Cash at bank and in hand 7,883 19,451
Total 7,883 19,451
Analysis of net funds Analysis of net funds
Decrease
As at1 in Cash As at 31
September in the August
2021 year 2022
2'000 E'000 E'000
Cash at bank and in hand 19,451 (11,568) 7,883
Total 19,451 (11,568) 7,883

Freehold
buildings		 including the
Sports Hall 3-60years
Fixtures and equipment 5years
Motor vehicles 5years
Hydrotherapy
pool		 10years
Swimming
pool		 20 years

For the year ended 31Augu For the year ended 31Augu For the year ended 31Augu st 2022
Analysis
of Prior Year		 Statement of Financial Activities
Un- Endow-
Restricted Restricted ment 2021
Funds Funds Funds Total
Note F'000 F'000 E'000 2'000
INCOIIE FROM."
Donations
and legacies		 460 4,878 5,338
Charitable
activities		 16,422 340 16,762
Other trading
activities		 191 191
Investments
Other income —profit on
disposal of endowment land 4 15,113 15,113
Total Income 17,075 5,218 15,113 37,406
EXPENDITURE ON:
Raising funds (462) (462)
Charitable
activities		 (17,093) (347) (17,440)
Other (104) (104)
Total Expenditure (17,659) (347) (18,006)
Net gains on investments
Net (expenditure)l income 4 (581) 4,871 15,113 19,403
Transfers
between		 funds 552 (3,208) 2,656
Net movement
in		 funds (29) 1,663 17,769 19,403
Balances brought forward 2,551 829 16,396 19,776
Balances carried forward 2,522 2,492 34,165 39,179

(a) Analysis
oftotal expe		 nditure:
Other
Staff Support direct 2022 2021
costs costs costs Total Total
F'000 F'000 E'000 E'000 E'000
Unrestricted
funds
Expenditure on raising funds 269 100 98 467 462
Expenditure on Charitable
activities 13,706 1,940 2,567 18,213 17,093
Other expenditure 61 61 104
Total unrestricted
expenditure 13,975 2,040 2,726 18,741 17,659
Restricted funds
Charitable activities 225 466 691 347
Total restricted
expenditure		 225 466 691 347
Total expenditure 14,200 2,040 3,191 19,432 18,006

Net expenditure
is		 stated after charging/(crediting): after charging/(crediting): after charging/(crediting):
2022 2021
E'000 2'000
Auditors'
remuneration		 —audit services 22 19
Auditors'
remuneration		 —assurance services 1 1
Depreciation 1,059 776
Hire costs 15 15
Profit on disposal of endowment land (15,113)

NO
For		 TES TO THE FINANCIAL STATEMEN
the year ended 31August 2022		 TES TO THE FINANCIAL STATEMEN
the year ended 31August 2022		 TS
5. EMPLOYMENT COSTS
2022 2021
F'000 F'000
Wages and salaries 12,473 11,919
Social security costs 1,054 953
Pension contributions 673 656
14,200 13,528
2022 2021
Number Number
F60,00
I -
F70,000
270,001 — F80,000
280,001 — F90,000
F90,001 - F100,000
F100,001 - F110,000
F110,001 - f120,000
F120,001 —F130,000

6.
FIXEDASSETS
Freehold
land 8 Sports Motor Fixtures 8, Assets under
buildings facilities vehicles equipment Construction Total
F'000 2'000 f.'000 E'000 E'000 E'000
Cost
At 1 September
2021 14,756 2,168 492 2,731 6,760 26,907
Additions 3 41 80 16,730 16,854
Disposals
Transfers (33) 645 (645)
At 31 August 2022 14,723 2,816 533 2,844 22,845 43,761
Depreciation
At 1 September
2021 5,378 1,213 403 2,642 9,636
Charge for the year 861 75 61 62 1,059
Disposals
At 31 August 2022 6,239 1,288 464 2,704 10,695
Net book value
At 31 August 2022 8,484 1,528 69 140 22,845 33,066
At 31 August 2021 9,378 955 89 89 6,760 17,271

.
CREDITORS: amounts
falling due wit		 hin one year
2022 2021
2'000 E'000
Trade creditors 663 201
Taxation and Social Security 263 263
Deferred income 439 570
Other creditors
and accruals		 2,122 1,586
3,487 2,620
2022 2021
Deferred income: E'000 2'000
Balance at 1 September 570 1,526
Amount
released to income		 (570) (1,526)
Amount
deferred
in year		 439 570
Balance at 31 August 439 570

2022 2021
2'000 2'000
Other creditors and accruals 285
285

Tangible Net
fixed current
As at 31August 2022 assets assets Total
E'000 E'000 E'000
Endowment funds 32,857 3,600 36,457
Restricted funds 416 416
Unrestricted funds 209 2,749 2,958
Unrestricted designated 200 200
Total net assets 33,066 6,965 40,031
Tangible Net
fixed current
As at 31August 2021 assets assets Total
2'000 E'000 f.'000
Endowment funds 17,060 17,105 34,165
Restricted funds 2,492 2,492
Unrestricted funds 211 1,761 1,972
Unrestricted designated 550 550
Total net assets 17,271 21,908 39,179

Balance at
Balance at 1 31
September Income Expense Transfers August
2022
F'000 6'000 E'000 F'000 F'000
Royal Schools for the
Deaf
Endowment 34,165 2,292 36,457
34,165 2,292 36,457
Balance at 1 Balance at
September 31 August
2020 Income Expense Transfers 2021
F'000 F'000 F'000 F'000 F'000
Royal Schools for the
Deaf
Endowment 16,396 15,113 2,656 34,165
16,396 15,113 2,656 34,165

At 1 At 31
September August
2021 Income Expenditure Transfers 2022
F'000 E'000 2'000 F'000 2'000
Transforming Lives
Appeal Phase 2 2,109 1,393 (141) (3,223) 138
Sundry Funds 383 445 (550) 278
2,492 1,838 (691) (3,223) 416
At 1 At 31
September August
2020 Income Expenditure Transfers 2021
E'000 P'000 2'000 E'000 E'000
Transforming Lives
Appeal Phase 2 494 4,801 (3,186) 2,109
Sundry Funds 335 417 (347) (22) 383
5,218 (347) (3,208) 2,492

13.
UNRESTRI		 CTED FUNDS
Balance at Balance
1 at
September 31 August
2021 Income Expenditure Transfers 2022
E'000 E'000 E'000 E'000 E'000
Designated
Strategy
Development 550 (350) 200
Unrestricted
funds 1,972 18,446 (18,741) 1,281 2,958
2,522 18,446 (18,741) 931 3,158
Balance at Balance
1 at
September 31 August
2020 Income Expenditure Transfers 2021
F'000 E'000 F'000 E'000 E'000
Designated
Strategy
Development 550 550
Unrestricted
funds 2,001 17,075 (17,659) 552 1,972
2,551 17,075 (17,659) 552 2,522

Other
Amounts payable within 2022
f'000		 2021
E'000
Less than 1 year 5 15
Two to five years 18