##
##
##
##
##
##
##
##
##
##
##
|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|
##
##
##
##
##