2024-08-31-accounts

Seashell Directors, Report and Financial Statements For the year ended 31 AwJug12024 Seashell Trust Rogistgred Charity No: 1092655 Re9islered Company No.. 04216714 Seashell Trust stan* R￿￿d. Che&lle F4JknRChethwe. SK3 6RQ T•k 0161610 0100 Em•lk nf￿$eashe11trusl￿9.uk IYGrrrfKtri

SEASHELL TRUST Seashell Trust {"Seashell" or the Yrust") is an education and Ca￿ charity founded in 1823 in Manchester, originally for the education of deaf children. Today, Seashell provides highly specialist education in its outstanding non-maintained special school, Royal School Manchester and in its independent specialist further education college, Royal College Manchester. In addition, Seashell has registered children's. adult. and short breaks care homes for those young people who cannot live with their own families. Placements range from one or two nighls to full 52 week all year-round care packages. Our 17 homes are set up to be real homes in every respect and help our young people gain independence skills ready for when the time comes to move on from Seashell. We provide highly integrated education. health and care packages to children and young adulls with the most complex neuro-disabilities and needs in our society. These needs are often cwccurring and include a combination of deafness. blindness, multi-sensory impaimient. autism. mental health issues, behavioural challenges and profound physical and rnultiple leaming disabilities andlor difficulties (PMLD). The vast majority of the children and young adults attending Seashell have little or no functional communication on their enlry to the Trusl. Seashell caters for those al the rnost severe end of the spectrum of complex needs. Our education and care facilities are complemented by our on-site Health, Sport and Family Servlces facilities and by our Sensory Support Service which provide greater access for families and professionals lo our specialist services. We aim, with the support of our families, staff. stakeholders, volunleers and donors, lo deliver real change and thus irrefutable difference to the levels of independence and communication achieved by our children and young adults. This. in tum. ensures they are valued and valuable members of their families and the wider community. We believe that Seashell is a truly special place for very special people. Our students and residents have incredibly challenging needs and they. and their families. are some of the most inspiring people you can ever meet. We need the best team. the best facilities. the best campus and the best technologies to deliver all we can for these students, ￿SIdents and their families.

SEASHELL TRUST Our Charity Mission Seashell helps children and young adults with the most complex needs. and their families. live their best lives. Our Charity Vision Seashell aims to be exceptional in educating and caring for children and young adults with the most complex needs, with an amazing workforce supporting families from its world class campus, and to share its excellence on a national and intemab'onal platforTn. Our Charity Values Strong charity values run through the core of Seashell. These are the things that are really important to us. Integrlty Honesty. trust and commitment go to the heart of every1hing we do. We pride ourselves on ethical working and strong leadership. We respect our children and young adults, their families and our colleagues. and we promise to do our very best every day to support Ihe extraordinary people in our care. Innovatlon Our children and young adults are exceptional. and we are constantly striving for pioneering new approaches, research and advances in both technology and different ways of caring, cornmunicating and educating. We believe that amazing people deserve amazing support. Involvement We pride ourselves on developing strong partnerships with children, young adults and their families to provide the very best support and life outcomes. By working together and hamessing the best care and support, technology and knowledge, we can help people live their best lives.

SEASHELL TRUST CHARITY ADMINISTRATION Dlrectors S Gillingham (resigned 3 June 2024) M Heath (2. 4) (Vice Chair) C Hoggins {3") N Masom {2) R Mcmillan (1, 6) J Munnelly L Perry (4. 5.) C Pov8y (1, 6. 7") C Smale (1. 2. 3) (Chair) K Uus (resigned 10 September 2024) T Wilkins (resigned 19 June 2024) B Holbrook (appointed 29 August 2024) (1) Member of Remunerats"on & Appointmenls Committee (2) Member of Audit & Finance Committe8 (3) Member of Transformation Project Steering Group (4) Member of RSM Governing Body (5) Member of RCM Goveming Body (6) Member of Safeguarding Board (7) Member of Post Otsted Govemance Group Chair of relevant Board sub<ommittee Executlve Leadershlp Team B Leigh B Boddice K Duggan N Giles M Travers B White Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief People Officer Chief Marketing & Fundraising Officer Director of Care & Education (retired 31 December 2024) Address and Reglstered Offlce Stanley Road Cheadle Hulme Cheadle Cheshire SK8 6RQ

SEASHELL TRUST CHARITY ADMINISTRATION Bankers Royal Bank of Scotland plc St Ann's Square Branch, PO Box 320 St Ann Street Manchester M60 2SS Bardays Bank plc Corporate Banking Level 11. 20 Chapel Street Liverpool L3 9AG Auditors Forvis Mazars LLP One St Peter's Square Manchester M2 3DE Solicltors Eversheds Sutherland LLP 6 Stanley St Salford M3 5GX Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BS14QA Gorvins LLP Dale House Tiviot Dale Stockport SK1 1TA Company Registratlon Number 04216714 Charlty Reglstratlon Number 1092655

SEASHELL TRUST Introduction from the Chair of Trustees On behalf of the Trustees of Seashell Trust, l am pleased to introduce the Trust's Directors. Report and Financial Statements for the year ended 31 August 2024. Leadershlp As Chair. it has given me great pleasure to oversee the developrnenl of the Trust during the year and I would like to convey my thanks to CEO, Brandon Leigh, the Executive Leadership Team and all staff and colleagues across the Trust for their year-round dedication to developing and delivering the Trust's strategic priorities. rising lo challenges and striving to ensure Ihat the Trust provides exceptional services to its beneficiaries. In total, more than 8,000 people benefited from our wide range of services and facilities in the year but our work does not stop there. We are committed to a better understanding of the complex needs population and are working with specialist organisations and condits'on specffic charities to capture data that will help with the planning of future provision. Our National Complex Needs Survey has already demonstrated that organisations like ours have seen significant changes to their cohort of learners in the last five years. Seashell is proud to have been awarded a contract from the Department for Educalion to develop and deliver a higher education course leading to a mandatory qualification for leachers of multi- sensory impairment (MQ MSI PGDip). Seashell is one of only two providers nationally of this specialist course. which opened lo students for the first time in October 2024. The course is being delivered in partnership wilh Liverpool John Moores University. Servlce dellvery Seash811 has a ski118d, dedicated, and Ilexible workforce that enables the Trust to provide high-quality support for our students. residents. and their families. Attracting and retaining staff in our sector nevertheless remained a challenge as a result of a competitive jobs rnarket. The recruitment and retention of staff remains a top priority for the Trust, and we have enhanced our Talent team to improve our ability to attract and retain slaff by highlighting the unique qualities of a career at Seashell. Campus This year we celebrated the first anniversary of the Moulding Foundation Building, a new 8nvironment for Royal School Manchester students. The facilities within the building such as light. sound and temperatu￿ controls have enabled staff lo design and put into practice a positive behaviour support programme that has seen an overall decrease of incidenls within the classroom for the whole school cohort. We also launched the next phase of our Transfonning Lives Appeal to build a new home for Royal College Manchester - the Ged Mason Building, with facilities that will help prepare our students for a fulfilling life in the community and which will match the sector-leading standard of the Moulding Foundation Building. Of our £10m targel we have £2.5m left to raise. We greatly appreciate all of the support we have received so far but continue to need as much help as possible to make this much needed facility become a ￿ality. We remain highly ambitious and excited about the fulure and will continue to plan for Ihe ongoing development of our campus to extend our reach and increase our impact.

SEASHELL TRUST Reglstered Servlces Inspectlons Seashell has six registered services. two of which were inspected during the year and one of which was inspected after the year had ended: Children's Care service (Ofsted) we We￿ extremely disappointed to leam that, due to various challenges, a rating of Inadequate had been given to our Children's Care Service. Work is underway to implement the requirements and recommendations of the Ofsted report in order to reslore the Servi￿ to its previous rating of Good. Children's Short-breaks service (Ofsted) we were delighted to receive a rating of Outslanding Royal College Manchester (Otsted) was inspected after the year had ended and we were delighted lo receive a rating of Outstanding. The ratings of our other three Registered Services remain unchanged as follows: Royal School Manchester {Ofsted) - Outstanding; Health Service (CQC) - Outstanding; Young Adults home {CQC)_ Good. Flnanclal The extremely challenging economic conditions experienced in the year ended 31 Augusl 2023 improved over the course of this financial year. Levels of inflation remained high at Ihe beginning of the year but returned to a more sustainable position as the year wenl on. finishing in Augusl in line wilh the govemment's larget of 2%. This eased cosl pressures to some extent during the year and the Trust has retumed a small surplus on its unrestricted activities before deprecialion. After the year end, in October 2024, the National Insurance and Minimum Wage elements of the Budget delivered by the new Labour govemment will increase Seashell's costs substanlially above current levels of inflation from April 2025. The ELT is therefore wort(ing through plans to limit the extent to which we need to pass on these additional costs as far as possible, in order to ensure that the Trust remains financially sound into Ihe future. Chris Smale Chalr

SEASHELL TRUST CONTENTS Page Directors, report, induding Direclors. Strategic Report Statement of Directors. duts'es in performance of S172 (1) Companies Act 12 Statement of Directors, ￿sponSibl11t1eS 14 Independent auditor's report 15 Statement of financial activities 18 Balance sheet 19 Statement of cash flows 20 Notes to the financial statements 22

SEASHELL TRUST Directors, Report The Directors, who are all Trustees for the purposes of the Charities Act. are pleased to present their annual report with the audited financial statements of the charity for the year ended 31 August 2024. The Twstees have adopted the provisions of the Statement of Recommended practi￿ (SORP) "Accounting and Reporting by Charities- issued in 2019 in preparing the annual report and financial statements of the charity. Our Charitable Objects Seashell's objects, as described in its Memorandum and Articles of Association, are the advancement of the education (induding social and physical training) andlor welfare of children and adults who, through any one or more forms of disability, require special provision for their needs {"Beneficiaries"), and in furtherance of those objects to provide suitable facilities for assessment, nursery care, education. training. work experien￿, recreation, care. residential accommodation and support for Beneficiaries. Our Services and facilities The Trust provides high quality, specialist education and care to children and young adults with complex learning and communication difficulties. such as hearing. visual and multi-sensory impaimients. physical disabilities, health needs and aulism spectrum condition. The Trust's facilities comprise a School, Royal School Manchester ("RSM") (for students aged 2- 19). a College, Royal College Man¢hester ("RCM") (for studenis aged 19-25). Chlldren's and Young Adult's Care Homes and our inclusive sports facilities induding the CADSTKI (Children's Able and Disabled Sports) programme. Our care homes provide integrated care services for students either in fvll time education or in receipt of short breaks. The short break provision is also available to families whose children or young adults are not students al the Trusl. All aspects of our provision incorporate all-inclusive Iherapy and health services as well as a professional leaming and development provision for staff induction and training. Public Benefit The Directors confimi that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's guidan￿ on Public Benefit. The Trusl's charitable purpose is enshrined in its objects and the Directors. together with the Executive Leadership Team ("ELf), review the strategy annually to ensu￿ that it continues to support the Trust's stated aims and objects'ves. Local Authorities and the Education and Skills Funding Agency pay fees for the Trust's seniices. Rigorous assessments are carried out prior to offering places in the School and College. Services are offered on the basis of need and suitability and are subject to funding approvals by the relevant funding bodies. Appropriale use of our facililies {e.g.. sports) is also made available for use by the public.

SEASHELL TRUST Corporate Governance Our Board Assurance Framework is summarised in the diagram below. Board Assurance Framework Seashell wcm) The duties and responsibilities of Trustee Board Directors are enshrined in the Memorandum and Articles of Association of the company. The duties and responsibilities of the Governors are set out in the Scheme of Delegation which delegates operational management of RSM and RCM to the respective Goveming Bodies. Those bodies meet termly, are chaired by L Perry, a Director, and include independent governors. M Heath, a Director. also sits on the RSM Governing Body. There are four additional permanent suWmmittees of the Board, chaired by a Director to oversee governance: Safeguarding; Audit & Finance: Remuneration & Appointments; and a Transformation Project Steering Group {-TPSG-) to oversee the delivery of Project Transfonnation. Dlrectors, Inductlon and responslbllltles Potential new Directors are identified based on the skills and knowledge required by the Charity to support its strategic aims. Candidates are invited for a site visit, encouraged to attend at least one Board meeting and interviewed by the members of the Remuneration and Appointments Committee. On appointment. Direclors may be allocated a specific role within the scheme of govemance committee structure, as appropriate. Training is offered to Directors as required and an 'away day is held for Directors. annually. to review and update the Trust's strategy. The Trustees are included in the Directors and Officers insurance cover, which is maintained by the Trust for all Officers, Directors and Trustees. Directors meet at least four limes a year and at these meetings receive reports from ELT, Goveming Bodies and from the Board's sub-committees. Strategic decisions recommended by the su committees or Goveming Bodies must be ratified by Ihe Directors. Executive Leadership Team ELT meets monthly. The remuneration of the CEO is agreed by the Chair of the Board. via the Trust's performance review process. The remuneration of individuals within ELT is approved by the CEO. All pay awards are made after making due reference to Trust performance, individual personal perfonnance, market conditions and extemal benchmarks. There are three advisory sub<ommittees of ELT, as summarised in the diagram above, comprising". Health & Safely: Health & Non-Regulated Activities: and Equality. Diversity & Inclusion.

SEASHELL TRUST Directors, Strategic Report Employees and Volunteers We employ approximately 690 full and part time salaried staff whose contribution and commitment to the Trust, its children, young adults and their families, is truly inspiring. The Trustees would like to formally place on record their most sincere thanks to our stsff for this work; they really are our greatest asset. Communication with Employees and Staff Wellbeing Staff meetings take place on a regular cycle and support discussion and communicalion sharing with employees focussing on discussions relevant to different staff groups. A fortnightly engagement survey is carried out which gives managers and ELT a snapshot on slaff feedback and alerts them to any immediate areas of concem. The engagement tool also allows colleagues to feedback prais8 comments. The Trust e-newsletter and internal intranet further enable staff communicats'on across the Trust. The Trust has continued to develop its staff engagement and wellbeing offer across the year. with the introduction of private healthcare for staff. This cover provides a range of health and wellbeing benefits for staff including access to physiolherapy. counselling. ernployee assistance on life events as well as our in-house debrief support through the Posits've Behaviour Support team. Recrultment The Trust continues to follow Safer Recruitment guidelines and continuously reviews and revises its recruitmenl and induction processes to ensure il attracts and retains the most suitable ernployees. The Trust is an equal opportunities employer and welcomes applications from disabled candidates. Any disabled candidate who meets the minimum criteria for the person specffication will be invited to interview and suitable adaptations made to facililate this. If the candidate is successful, reasonable workplace adaptations are put in place to ensure that the employee can perform their role and access any training so that their personal development is not ￿striCted. The Trust continues to work towards the recruitment of additional staff across all areas. The recruitment and onboarding team have been enhanced and rebranded as Ihe Talent team. Using a variety of media and methods, Ihe Trust are attracling new employees through a number of channels including direct recruitment campaigns. recruitment events. agency recruitment. social media campaigns, open recruitment days. CV search facilities and working with national partners and local partners in schools. colleges and universities. Ongoing modifications to the onboarding pro￿sS, including the use of digital checks this year, continues to enhance the experience of new starters to the Trust. The recruitment and retention of staff remains high on the Trust's agenda, as cost pressures continue to create competition in the job markel. Being able to attract and retain talent whilst hi9hlighting the unique qualities of a career at the Trust. remains our top priority. Learning and Development The Trust provides specialist services and therefore requires similarly qualified and specialist skills amongsl its stsff. Accordingly, we invest appropriately in our staff training each year. Our Learning and Development learn supports stsff, bank colleagues. govemors. Directors. and volunteers through a robust induction process and provides ongoing training and support to all staff to obtain qualifications relevant to their role. The Trust launched its Apprenticeship Academy in January 2022, a small cohort of apprentices developing skills. knowledge and training in care. education and other support functions with the aim of recruiting the apprentices to Seashell upon successful completion of their qualification. Apprentices are supported through the Apprenticeship Levy and also levy grants grfted to the Trust

SEASHELL TRUST by external employers. The academy will continue to grow in the coming year and is another invested pipeline to deliver a highly skilled workforce to the Trusl and wider sector. Volunteers Volunteering continues to support the vision of the TnJst through volunteers and slaff collaborating in every area of Ihe Trust's work. The volunteer offer continues to be refreshed and reviewed to enhance the volunteer experience and enable volunteers lo undertake a wide variety of activities - TM from classroom support. to office administration assistance, to support for our CADS and sports activities as well as gardening tasks. We have welcomed 611 Corporate volunteers this year, frorn 44 different organisations, who have supported an impressive 3.707 hours through one-off activilies such as those described above. A summary of learning and development, tslent and human ￿sourceS delivery for the year ended 31 August 2024 is detailed in the infographic below: Seashell HR&D HIGHLIGHTS 2023124 HR L8D 52 79 14 1&45 266 &P 219 X) Iro x• ax • 293 13,803 18.5 Fundraising Seashell is volunlarily registered with the Fundraising Regulator and aclively seeks to fundraise in line with the Code of Fundraising Practice in a way that is legal, open, honest, and respectful. We are also an organisational member of the Chartered Institute of Fundraising. We operate fundraising practices and standards that protect vulnerable people and other members of the public and have received no complaints in the year regarding our fundraising activities. We work with a small number of organisations to help us raise the most funds possible for our students and actively direct and monitor all the activities undertaken through regular meetings and r8POrts, ensuring the same high standards a￿ maintained.

SEASHELL TRUST Suppliers The Trust recognises its responsibility to ensure its charitable business activities are undertaken in accordance with regulatory requirements and best practice. The Trust's procurement policy has been developed to help the Trust achieve best value in the use of limited resources to support the Trust in achieving its overall aims and objectives. It also supports addressing the requirements of the Charity Govemance Code and the 2010 Bribery Act by emphasising the responsibility of all staff involved to conduct procurement legally and ethically as well as securing value for money. All procu￿rnent activity adheres to the following key principles: Transparency - dear procedures to be followed and evidence of adherence retained for audit. Equal treatment - for all potential suppliers lo ensu￿ a level playing field. no favouritism and to ensure best value is obtsined; Wherever possible we endeavour to source potential suppliers from the local area where this can be justified in terms of best value and l or social value; and Suppliers are required to follow Trust safeguarding standards where applicable. Energy Usage and Sustainability Under the Companies (Directors. Report) and Limited Liability Partnerships (Energy and Carbon) Regulations 2018. the Trust is required to report its annual UK energy consumption and Greenhouse Gas (GHG) emissions. Energy and GHG emissions have been independently calculated by a third- party company for the year ended 31 August 2024. Reported energy and GHG emissions dala is compliant with the requirements under the Streamlined Energy Carbon Reporting (SECR) regulations and has been calculated in accordance with the GHG Protocol and SECR guidelines. Energy and GHG emissions are reported from buildings and transport where operational control is held - this indudes electricity, natural gas and business travel in company-owned or grey-fleet vehides. The Total Energy Consumption (TEC) for the Trust for the year ended 31 August 2024 was 5,274 Mwh (2022-23 5,629) resulting in carbon emissions of 994 tonnes of cart)on dioxide (2022-23 1,051 tonnes). Emissions per employee are considered to be at an appropriate intensity ratio; average emissions per employee for the year were 1.54 tC02• (2022-23." 1.79 tC02•). The decreased energy usage in the year is the result of the reduced energy required for construction activities on Project Transformation. We expect higher levels of energy usage in the coming year as we continue to build out the campus as part of Project Transfomation. However, in the medium and long temi. this campus redeveloprnenl is expected to resull in significant reductions in energy usage as many of our existing. energy inefficient and aged buildings are replaced. Project Transforniation Project Transformation is the name given to the programme to comprehensively redevelop our campus in Cheadle Hulme. This development was initiated with Ihe construction of our new ￿SIdential accommodalion in 2016, continued with the construction of a new 3G sports pitch in 2019. and. in the year ended 31 August 2023, the opening of our new outdoor cyding faalities and the completion of the Moulding Foundation Building, the new home for RSM incorporating integrated swimming. hydrotherapy and refectory faciliknes, which opened in February 2023. During the year ended 31 August 2024. £5.4m has been spent on the building work for the Ged Mason building, the new home for Royal College Manchester building (which will include extended

SEASHELL TRUST and enhanced sports. training and administration facilities). on which construction began in January 2024. The Ged Mason building is expected lo open in early calendar year 2026. Project Transformation is part-funded by the sale of approximately 33 acres of the Trust's landholding to Bloor Homes. Under the tenns of this agreement, the land was sold in tranches, 24 acres of which were transferred in previous years generating a net receipt of c.£22m. The final 9 acres were transferred during the year for consideration of c.£14.5m. The balance of funding for Project Transfonnation is expected to come from other sources, including the Trust's own cash reserves (£3rn has already been incurred to date). potential bank borrowing and from donations arising from a capital fundraising appeal. During the year. the Trust received a further £5.5m of Income from our Transforming Lives Appeal for Project Transfomiation. Strategic Priorities Our strategic priorities which shaped our plans during the year were. 1. To provide exceptional education. care, and health & wellbeing support for our children and young adults (C&YA} with safeguarding as the highest priority: 2. To promote the voice of C&YA and their families through co-production lo inform the design and delivery of services and to influence national policy; 3. To achieve meaningful outcomes after Seashell through successful transltions to high quallty and sustainable employment. education, and social opportunities; 4. To continue to transfom) our site to ensure high quality faalities for our C&YA as well as playing a valued role in the broader community: 5. To develop and share our specialist knowledge and skills nationally and intemationally; 6. To be an employer of choice with a cullure of continuous improvement Ihrough investment in our exceptional workforce: and 7. To ensure long-tenn financial security Ihrough the development of fundralsing and other income generating acts'vits'es. Operational Performance in the Year Our operatlng model Seashell IPLP5) En￿•d by

SEASHELL TRUST Our slx reglstered servlces 1. Royal School Manchester. Ofsted registered. Non-maintained special school. Rating Outstanding. 2. Royal College Manchester. Otsted registered. Specialist post-16 institution. Rating Outstanding. 3. Seashell Health Services. CQC registered. Treatment of disease, disorder & injury. Rating Outstanding 4. Seashell Children's Care Services Children's Home. Ofsted registered social care provision. Rating - Inadequate. Work is underway to implement the requirements and recommendations of the recent Ofsted report in order to restore the serrfice to its previous rats'ng of Good. 5. Seashell Children's Care Servi￿5 - Short Breaks. Ofsted registered. Social care provision. Rating - Outstanding. 6. Seashell Young Adults Care Services. CQC regislered. Care home. Rating - Good. Our year In numbers In total. more than 8.000 people benefited from our wide range of services and faalities during the year. This indud8d: Education and ca￿ for over 130 children and young adults with some of the most complex disabilities in the country 920/0 of our students require onfrto￿ne support (or greater) to access their education 88 % of our School studenls achieved their individual education plan targets for the year and 880/0 of students achieved 'expected' or 'better than expected. progress during their time with us 98./0 of College students achieved their destination goals for the year and 36Yo of students reduced their need for support per week as they became more independent Fully inclusive sports, activities and facilities accessed by over 2,600 children and adults from the cornmunity Infonnation, advice and training to over 300 families, lo help them support their child with speclal educational needs and disabilities (SEND) Training and support to almost 200 organisations and more than 300 professionals to enable them to become more supportive and indusive Organlsatlonal culture and workforce management Attracting and retaining appropriately qualified staff continues 10 be the key priority for the Trust. Focus remains on recruitment and retention through Ihe continued enhancement of our employee offer, which complements competitive rates of pay with increased health and wellbeing benefits. We continue to closely monitor key staff metn'cs such as training compliance, absence levels, uts'lisats'on, recruitment and retention. Studenl Numbern At the end of the year. the numbers of sludents and residents on roll were as follows: 2024 2023 Royal School Manchester." Royal College Manchester"" Children's Residential Care Services Young Adult Residential Care Services 62 70 59 68 13 28 30 ' at the end of the summer term Student numbers in school and college at the end of the year We￿ slightly higher than 2023 levels. We expect that the numbers of students in school will continue to increase towards the 80-student capacity of the new school building in the next two years. As several of these new students will have residential placements. Children's Care resident numbers are expected to increase over time.

SEASHELL TRUST College student numbers are already al levels close to capacity (c.70 students), although the new home for Royal College Manchester. Ihe Ged Mason Building, may provide a potential opportunity to expand once it opens in 2026. Financial Review Income The unrestricted income for the year ended 31 August 2024 and previous year is summarised in the table below: 2024 £'ooo 2023 Change £'ooo £'ooo Donations and legacies Charitable activities Other trading activities Interesl income 1,180 23,831 258 160 840 19.692 65 66 340 4,139 193 Total Unrestrlcted Income 25,429 20,663 4,766 Total income from unrestricted funds increased by £4,766,000. This was largely due to increased income from charitable activities. Restricted income in the year was £5.904.000, as compared with £3.694,000 in the year ended 31 August 2023, both of which induded some large, one-off donations towards the new Moulding Foundation Building (Royal School Manchester) and in-progress Ged Mason Building (new home for Royal College Manchester) as part of Project Transfonnation and the Transfomiing Lives Appeal. Expendlture Total unrestricted expenditure in¢￿ased by £4,417.000 to £26,769,000 as a resull of the high levels of inflalion experienced impacting our charitable expenditure. Unrestricted funds net deficit The net deficit on unrestricted funds for the yearwas £1.340.000, decrease on the £1,689,000 deficit recorded in 2022-23. This largely reflects a reduction in the depreciation charge in the year by £291,000 as a resull of the old college buildings being fully written down in 2022-23. The Trust airns to record a small financial surplus, before depreciation charges each year, and in the year reported a surplus before depreciation on unrestricted funds of £129.000 (2022-23 £71.000). Endowmenl Fund net surplus The endowment income of £13.965,000 recorded in 2023-24 represents the net profit arising on the disposal of the final tranche of land under the temis of the sale agreement with Bloor to part fund the costs of delivering Project Transformation. Net assets Net assets increased by £18.140.000 in the year to £62,478.000 as at 31 August 2024. compared with £44,338.000 at 31 August 2023. This Inc￿aSe in net assels is primarily due to the nel receipt of land sale income and restricted donats.ons for Project Transfomiats'on offset by the deficit on unrestricted activities. Reserves The reserves policy slates Ihat, in the long tenn. unrestricted, undesignated ￿serveS (excluding fixed assets) should be maintained al a target level of £4.2 rnillion. This is in order to give the Trust sufficient flexibility to operate on a day-to-day basis. to take any appropriate decisions lo further the Trust's strategic dev81opment and in light of the risks that the Trust manages. The policy also slates

SEASHELL TRUST that operating at levels below this long-temi tsrgel level is acceptable in the short term. as long as a long-term financial plan for re-building these reserves exists. The Trust has such a plan. Free reserves available for use by the charity exclude designated and restricted funds as well as fixed assets. The majority of fixed assels are held as land and buildings, which are permanently endowed and so cannot be used for revenue purposes. The value of our free reserves at 31 August 2024 is £2,587,000 (2023: £2,819,000). held in the fonn of currenl assets, which are available for use by the charity. Restrlcted funds are funds subjecl to specific requirements specified by the donor at the lime of grant and their total value at 31 August 2024 was £3,556,000 (2023: £353,000). Other Funds - Permanent Endowment - this is property, including land. which the Directors may not spend as if it were income. As at 31 August 2024 the value of endowment reserves was £56,098.000 (2023: £40.871,000). Golng concern The Directors have prepared budgets and projections taking into account possible changes to future income and expenditure which show that the Trust is able lo continue to operate as a going concem for the foreseeable future. A reasonable worst-case set of assumptions has been considered in making this assessment on going concem. Therefore, the Directors continue to adopt the going concem basis of accounting in preparlng the financial statements. The Directors have considered a period in excess of 12 months from the date of the approval of the financial statements in making their assessment. In particular, the Directors do not consider there to be any material uncertainties in regard to the Trust being able to conlinue to operate as a going concem for the foreseeable future. Future Plans The environment within which the Trust operates continues lo be one wrth both significant challenges and opportunities. Good progress has been made over recent financial years in implementing changes to the Trust's fee structure, its operating practices and increasing its income from other services to address the financial deficils thal the Trust had recorded in recent years, and more recently to mitigate the impacts of high inflation, and the Trust is now on a much more stable financial footing. The substantial investment in the new and extended facilities provided by Project Transformation provides additional capacity for growth in income in future years and there continues to be increased demand for the ServI￿S the Trust provides. Our ability to meet this demand is subjecl to being able to recruit and retain the appropriate levels of suitably qualified staff. the extemal UK market for which mains constrained. We are addressing this challenge Ihrough various initiatives such as continuing lo improve our overall ernployee offer (which includes a number of health and wellbeing benefits in addition to a competitive salary) as well as recruiting from selected overseas markets for certain roles. We have seen good signs that this investment is impacting on improved recruitment and retention metrics. New on-site facililies provided under Project Transfomiab'on are also aiding our staff recruitment and retention objectives. After the year end. in October 2024. the National Insurance and Minimum Wage elements of the Budget delivered by the new Labour government will increase Seashell's costs substanlially above current levels of inflation from April 2025. The ELT is therefore working through plans to lirnit the extent to which we need to pass on these additional costs as far as possible.

SEASHELL TRUST Risk Management The Trust has a Risk Management Framework, which provides a rigorous and robust process around how risks across the Trust are identified. quantified, mitigaled and reported. The identification of risk is delegated to the Executive Leadership Team who report risk management to the Directors for their oversight, review and approval at Board Meetings. The most significanl risks Identlfied In the Gurrent year and how these rlsks are managed by the Trust are as follows: Key Rlsk A serious safeguarding incident occurs or is reported which causes significant reputstional damage to the Trust, potentially impacting on the willingness of Local Authorities to place children and young adults at the Trust. How thls rlsk Is managed The Trust places the greatest of importance to its obligations to ensure the safety and well-being of the children and young adults under its care. However. the Directors recognise Ihat the controls and procedures thal we have in place to monitor and manage this risk, can be effective in re(lucing this risk. but cannot completely eliminate it. These key controls and procedures include: We have a dedicated Safeguarding Board, including extemal. independent representation: We have a Trust-wide role of Safeguarding Officer; The Trust has a well*stablished safeguarding policy, practices and reporb'ng systems which ar8 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 praclices and procedures, and Obtaining expert legal advice and counsel where considered appropriale. Continuing changes in governrnenl policy, which could result in reduced funding levels, additional regulatory requirements and additional costs, despite underlying demand for the Trust's services increasing. The Trust activaly maintains close and positive relationships with the education. health and care teams within its principal Local Authorities, to understand the drivers impacting on their placement behaviour. During 2023124. we have had to manage increasing costs such as staff costs, energy. and other general costs due to high levels of inflation. These costs are reflected in our fee structure going forward lo 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 Ihe Department for Education. 10

SEASHELL TRUST Key Risk How this risk is managed The inability to recruit and retain staff with the requisite skills to meet the increasingly complex needs of our students. This poses significant challenge to the Trust, that if not adequately addressed could result in staffing shortfalls. reductions in the quality of care that the Trust provides, andl or additional costs in addressing staffing shortfalls by the use of higher-COSt agency workers. We have continued to implement our 'People Strategy,, which sets out a comprehensive and overarching plan to address issues associated with staff recruitment, retention, reward, performance and well-being. This has included a number of initiatives such as: Extended Ihe number and scope of our management training programmes: Conducted Ihe Job Evalualion Review, including a revised benchmarking exercise whereby salaries are compared with external data; Streamlined recruitment processes and actions to increase the effecliveness of recruitment activity and added extra resource to the recruitment team; Implemented a significant uplift in base pay across the Trust effective September 2023: and Continuation of recruitment activities beyond Ihe required staffing complement for key roles in order to create a staffing "bufferf to mitigaie the impact of staff absences and resi nations. Project Transfomiation is now firmly in its irnplementation stage with construction of the Ged Mason Building, the new home to RCM and shared facilities started and due to open in 2026. The Trust is reliant on the delivery of the site redevelopment in order to continue to provide its on-site based activities in Ihe medium term. Delays and cost overruns in delivering the redevelopment will adversely impact the Trust's ability to achieve its aims and objectives. The Directors closely monitor the progress of the various elements of the project at each Board Meeting. The day-to-day aspects of Project Transfomiation are considered and managed by the "Transfonnation Project Steering Group", a sub-comrnittee of the Board which comprises a number of Trustees. members of ELT. relevant Heads of Service and Specialist Advisors. This group meets monthly, with relevant inpul from appropriate professional advisors. This group reports to the Board of Directors at each Board Meeting and more frequently when required. The Trust ensures its physical infraslructure is updated regularly and reflects best practice. As a result of a potential breach in cyber security the Trusl could become exposed to a prolonged period of IT disruption which significantly affects delivery of its services and l or results in the loss of a large amount of sensilive data. The Trust ensures its suite of systems and software, including malware and cyber-attack protection are of a high standard, updated regularly and tested for vulnerability. The Trust has robust policies and procedures including those governing all users. Seashell is Cyber Essentials and NHS Toolkit accredited. The TnJsl incorporates IT training and dats govemance in ils inducb'on and ongoing training programme.

SEASHELL TRUST STATEMENT OF THE DIRECTORS. DUTIES IN PERFORMANCE OF S172(1) COMPANIES ACT 2019 This Ststemenl is required under Section 414CZA. of the Companies Act 2019 and sets out how the Directors have had regard to the matters set out in section 172{1) of the Cornpanies Act 2019 in performing their dulles. The Directors ￿COgnise that Ihe long-term success of the company is dependent on having regard to the interests of all of its stakeholdefs. As a registered charity, the Directors, responsibility also extends to ensuring that the affairs and objectives of the Trust are manage(l in a way that enhances public trust and support. Key stakeholders include the children and young adults educated and cared for by the Trust, their families, their carers, our workforce, Local Authorities and our regulators. The Board of Directors of Seashell Trust consider that, both individually and collectively, for the year ended 31 August 2024 they have acted in the way that they believe, in good faith, would be the most likely to promote the success of the company for the benefit of its rnembers as a whole and having regard lo the matters set out in s172 (1 } (a) to (f) as below: a) The likely consequences of any decision in the long-tenn: b) The interests of the company s employees: c) The need to foster the company s business relats'onships with suppliers, customers and others; d) The impact of the company's operats'ons on Ihe community and the environment. e) The desirability of the company maintaining a reputation for high standards of business conduct; and The need to act fairly between members of the company. (a) The likely consequences of any decision in the long tem7. The Directors have regard to the likely consequences of their decisions on the long term objectives and sustainability of the Trust, its stakeholders and the community whilst also preserving its values and culture. As a charity educating and caring for some of the most vulnerable people in our society, the way we behave and our reputation are of utmost importance to us and we consider the short and long term behavioural and reputational impacts of all our decisions. We are dedicated lo ensuring we maintain our culture whilst achieving our purpose. (b) The inte￿stS of the company s employees. As referred to above, our employees are fundamental to our success and it is very important that they have the right attitude and the drive to create ideas and set high standards. This requires that the Trust sets the right environment and that this be led "from the top". All employees are encouraged to be honest and regular discussions are held with employees through various means, including regular team meetings, formal staff supervision sessions and via our Staff Engagement Group. We have held the "Investors in People" Standard for several years and retained the standard in the previous year. (c) The need to fosler the company's bu&ness ￿latIOnShipS with suppliers, customers and others. We seek to cary out our business with similar-minded people who share our vision to help the children, young adults and their families live their best lives. We encourage all those with whom we have significant business interests to visit our site. meet our stsff, children and young adults and see for themselves the work that we do. We look to forge strong, open. transparent and lasting partnerships which is important for our long-tenn success. 12

SEASHELL TRUST (d) The impacl of the company's operations on the community and the environment. We are proud to be part of the local and wider comrnunities and have a strong and developing community engagement programme led by our sports and fundraising tearns. It is our aim to create opportunities to recruit and develop local people and to understand the local issues that are important to the community and what we can do to support it. (e) The desirability of the company maintaining a reputation for high standards of business conduct. All new employees get a New Starter Pack which includes. amongst other things, our history, standards. equal opportunities and training programme. All employees have easy access to our Operating Procedures and Codes of Conduct via our Trust-wide Intranet and understand the requirement for them to comply with the company s high standards of business conduct at all times. Any issues of non-complian￿ with any of our policies can be dealt with in confidence. (fj The need to act fairly between members of the company. The company aims to act with integrity and courtesy in all of its relationships and will consider all members and stakeholders when making decisions for the overall good of the company. 13

SEASHELL TRUST STATEMENT OF DIRECTORS, RESPONS181LITIES Charity law reqUI￿S the D1￿ctorS to p￿pa￿ accounts for each year which, in accordance with United Kingdom Accounts'ng Standards (United Kingdom Generally Accepted Accounting Practice) and Statement of Recommended Practice -Accounling and Reporting by Charities", give a true and fair view of Ihe charity's financial activities during the year and the financial position at the end of the year. In preparing Ihose accounts, Ihe Directors are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent: state whether applicable accounting standards have been followed, subject to any material departures disclose(l and explained in the accounts. and prepare the accounts on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The Directors are responsible ft>r keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. The Oirectors confirm thal: as far as they are aware Ihere is no relevant audit information of which the charity's auditors are not aware; and they have taken all the steps they ought to have taken to make themselves aware of any relevant audit information and to establish that Ihe auditors are aware of that information. In approving the Directors, Report, the Trustees are also approving Ihe Strategic Report in their capacity as Company Directors. Approved by the Board and signed on its behalf by: CLf,- C Smale Chair 1410212025 14

SEASHELL TRUST INDEPENDENT AUDITOR'S REPORT Opinion We have audited the financial statements of Seashell Trust (the 'charity') for the year ended 31 August 2024 which comprise the Statement of Financial Activities. the Balance Sheet. the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards. including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial stalements", give a true and fair view of the slate of the charity's affairs as at 31 August 2024 and of its income and expenditure for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemational 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 independenl of the charity 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 Ihese requirements. We believe that the audit evidence we have obtained is sufficienl and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing Ihe financial stalements. we have conduded that the directors. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any malerial uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of al least twelve months from when the financial statements a￿ authorised for issue. Our responsibilities and the responsibilities of the directors wilh respect to going concem are described in the relevant sects'ons of this report. Other Inforniatlon The other inforrnation comprises the information included in the Direclors. Report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except lo the exlent othep4vise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial slatemenls, 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 lo detem)ine whelher there is a malerial misstatement in the financial ststements or a material misstatement of the other informats'on. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to ￿port in this regard. 15

SEASHELL TRUST Oplnlons on other matters prescrfbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the directors, and trustees, report for the financial year for which the financial statements are prepared is consistenl wth the financial statements; and the directors. and trustees, report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In light of the knowledge and understanding of the charity and its environment obtained in Ihe course of the audit, we have not identified material misstatements in the Strategic Report or the Directors, Report. 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: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us: or the financial statements are not in agreemenl with the accounting records and retums: or Certain disdosures of directors. remuneration specified by law are nol made; or we have not received all the infomation and explanations we requi￿ for our audit. Responslbllltles of Dlrectors As explained more fully in the directors, responsibilities statement set out on page 14. the directors {who are also the trustees of the charitable company for the purposes of charity law) are responsible for the preparation of the financial ststements and for being salisfied that they give a true and fair view, and for such intemal control as the directors detennine is necessary to enable the preparation of financial statemenls thal are free from material misstatement. whether due to Iraud or error. In preparing the financial statements, the directors are responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the directors eilher intend to liquidate the charity or to cease operations, or have no realistic allemative but to do so. Audltor's responslbllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemenl. whelher due lo fraud or error, and to issue an auditor's report that indudes our opinion. Reasonabl8 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 Ihe basis of the financial statements. Irregularilies. including fraud. are instsnces of non-compliance with laws and regulations. We design procedures in line with our responsibililies. outlined above, to detect malerial misstatements in respect of irregularities. including fraud. Based on our understanding of the charity and its activities, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011 , the Charities Statement of Recommended Practice, UK tax legislation, pensions legislation, employment regulation and health and safety regulation, anti-bribery, corruption and fraud and money laundering, and we considered the extent to which non-cornpliance rnight have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial ststements. such as the Companies Act 2006. We evaluated the directors, and management's incentives and opportunities for fraudulent manipulation of the financial ststements (including the risk of override of conlrols) and determined that the principal risks were related to posting manual joumal entries to manipulate financial performance, management bias Ihrough judgements and assumptions in significant accounting estimates, in particular in relation to use of restricted and endowment funds, and significant one-off or unusual transactions. 16

SEASHELL TRUST Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud Ihat are material lo the financial statements. Our audit procedures included but were not limited to: discussing wilh the directors and managemenl their policies and procedures regarding compliance with laws and regulations; communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-complian￿ throughoul our audit: and considering the risk of acts by the charity which were contrary to applicable laws and regulations, induding fraud. We also considered those laws and regulations that have a direct effecl on the preparation of the financial statements. such as Charities Acl 2011 the Charities Statement of Recommended Practice, UK tax legislation, pensions legislation, employment regulab'on and health and safety regulation. anti-bribery. corruplion and fraud. money laundering. In addition, we evaluated the directors, and management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined Ihat the principal risks related to posting manual joumal entries to manipulate financial perfonnance. management bias through judgements and assumptions in significant accounting estimates, in particular in relation to the revenue recognition (which we pinpointed to the cut-off assertion). restrictions over the use of funds. recognition of transactions in respect of the assets under construction, depreciation of fixed assets and significant one-off or unusual transactions. Our audit procedures in relation to fraud included bul were not limited to.- making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; gaining an understanding of the intemal controls established to mitigate risks related to fraud; discussing amongst the engagement team the risks of fraud; and addressing the risks of fraud through management override of controls by performing joumal entry lesting. There are inherent limitations in the audit procedures described al>ove and the primary responsibility for the prevention and detection of irregularilies including fraud rests with management. As with any audit. there ￿rna1ned a risk of non4etection of irregularilies. as these may Involve collusion, forgery, intentional omissions. misrepresentalions or the override of intemal controls. A further description of our responsibilities for the audit of the financial ststemenls is located on the Financial Reporting Council's website at wNw.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of the audlt report This report is made solely to the charity'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 charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fvllest exlent permitted by law. we do not accept or assume responsibility to anyone other than Ihe charity and the charity's members as a body for our audit work, for this report, or for the opinions we have fo￿ned. Michael Speight (Senior Statutory Auditor) for and on behalf of Forvis Mazars LLP Chartered Accountants and Statutory Auditor One St Peters Square Manchester M2 3DE 1910212025 17

SEASHELL TRUST STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) For the year ended 31 August 2024 Endow- ment Funds Restricted Funds £'ooo Restricted Funds £'ooo 2024 Total £'ooo 2023 Total £'ooo Note IN OME FROM: Donations and legacies 1,180 5,532 6,712 4,040 Charitable activities 23.831 372 24,202 20,186 Other trading activities 258 258 65 Investments 160 160 66 Other income - profit on disposal of endowrnenl land 13.965 13,965 3,059 Total Income 25.429 13.965 45,297 27,416 EXPENDITURE ON: Raising funds (665) (665) (576) Charitable activilies {25,860) (388) (26,248) (22,439) Other (244) (244) (94) Total Expendlture {26.769} (388) (27,157) (23,109) Net (expenditure)l income (1.340) 5.516 13,965 18,140 4,307 Transfers between funds 1,051 (2,313) 1,262 Net movement In funds (290) 3,203 15,227 18,140 4,307 Balances brought forward 3.114 353 40.871 44,338 40.031 Balances carrled forward 2.824 3.556 56,098 62,478 44.338 All amounts in the year are derived from continuing activities. All gains and losses recognised in the year are induded in the Statement of Financial Activities. An analysis of the prior year activities by fund type is disdosed in note 2. 18

SEASHELL TRUST BALANCE SHEET As at 31 August 2024 COMPANY NUMBER: 04216714 2024 £'ooo 2023 £'ooo Note Fixed assets Tangible fixed assets 43,122 38,648 43,122 38,648 Current assets Debtors: amounls falling due within one year Cash at bank and in hand 11,612 9.885 1.999 6.298 21.497 8.297 Credltors: amounts falling due within one year {4.003) (2,607) Net current assets 17.494 5.690 Debtors: amounts falling due after more than one year 1,862 Total assets10s5 current Ilabilitlos and net assets 10 62.478 44.338 Endowment funds 56,098 40,871 R8strlct8d funds 12 3,556 353 Unrestricted funds Designated funds Unrestricted funds 13 13 98 3.016 2.824 Total funds 62,478 44.338 Approved on behalf of the Directors CLf,- C Smale Chair 1410212025 19

SEASHELL TRUST STATEMENT OF CASH FLOWS For the year ended 31 August 2024 2024 £'ooo 2023 £'ooo Cash flow from operating activities Net income Depreciation Interest income Gain on sale of fixed assets (Increaseydecrease in debtors Increasel(decrease) in creditors 18.140 1,469 (160) (13.965) (11.454) 871 4,307 1,760 (66) {3,059) 591 196 Net cash Inflowl{oufflow) from operatlng activities (5.099) 3,729 Cashflows from Snvestlng acllvltles Purchase of buildings and other fixed assets Proceeds on sale of fixed assets Bank interest received (5.996) 14.541 141 {8,613) 3,254 45 8.686 {5,314) Net increasel{decrease) In cash before financlng 3.587 {1,585) Net Increasel{decrease) In cash & cash equlvalents 3.587 {1,585) Cash at bank and in hand Balance at beginning of year Balance at end of year 6.298 9.885 7,883 6,298 Increasel(decrease) In cash In the year 3.587 {1,585) 20

SEASHELL TRUST STATEMENT OF CASH FLOWS For the year ended 31 August 2024 2024 2023 £'ooo Reconcillatlon of net cash flow to movements in net funds Increasel(Decrease) in cash in the year 3,587 (1,585) Movement in not fund5 in the year 3,587 (1,585) Balance at beginning of year 6.298 7.883 Net funds at end of year 9.885 6.298 Analysls of net funds Cash at bank and in hand 9.885 6.298 Total 9.885 6.298 Analysls of net funds Increase in cash in the year £'ooo Asat1 September 2023 £'ooo Asat31 August 2024 £'ooo Cash at bank and in hand 6.298 3,587 9,885 Total 6.298 3.587 9.885 21

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 ACCOUNTING POLICIES Basis of preparation Seashell Trusl is a charitable company limited by guarantee and registered in England and Wales. The registered address is Stsnley Road, Cheadle Hulme, Cheshire. SK8 6RQ. The financial statements have been prepared under the historical cost convention as modified to include fixed asset investments at fair value. The financial statements are also prepared in accordan￿ with the Companies Act 2006 and the Statement of Recommended Practice: "Accounting and Reporting by Charities (SORP 2019)" applicable to charities preparing their financial statements in accordance with Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102). effective 1 January 2019. Seashell Trust meets the definilion of a public benefit entity under FRS102. The financial statements include land and buildings owned by Royal Schools for Ihe Deaf, Manchester Trust (charity no 109265&1) of which Seashell Trust (charity no 1092655) is a corporate trustee. Going concern The Directors have prepared budgets and projections taking into account possible changes to future income and expenditure, which show that the Trust is able to continue as a going concern for the foreseeable future. A reasonable worst-case set of assumptions has been considered in making this assessment. Therefore, the Directors continue to adopt the going concern basis of accounting in preparing these financial statements. The Directors have considered a period in excess of twelve months from the date of the approval of these financial staternents in making their assessment. In particular, the Directors do not consider there to be any material uncertainties in regard lo the Trusl being able to operate as a going concern for the foreseeable future. Fund accounting: Unr8strlcted funds These are funds that can be used In accordanc8 With the charitable objects at the discrelion of Ihe Direclors. Designated funds These are funds that are set aside by the Directors out of unrestricted general funds for specific future purposes or projects. As such they are noi considered to be part of the charity's available free reserves. Restricted funds - These are funds comprising assets that have been given lo the charity subject to certain condits'ons. They include cash donations and legacies given for a specific purpose. 22

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Continued Incomo: All income is included in the Slatemenl of Financial Activities when the charity has entitlement to the funds. any perfonnance conditions attached to the income have been substantially met, it is probable that the income will be received and the amount can be measured reliably. Income from donations and legacies is received by way of grants, donalions and bequests and is included in full when the Directors consider receipt of the funds lo be probable. Income received for the general purpose of the charity is credited to unrestricted income. Those amounts Ihat are subject to the specific wishes of the donors are included in either restricted or endowment funds according to the nature of the receipt. Income arising from other trading activilies is accounted for when eamed; Income from charitable activilies represents fees receivable and charges for services, accounted for in the year in which the service is provided. For income received under contracts. income is recognised as the services are performed: Income from investments is included when receivable. Bank interest is accounted for on an accruals basis; Income is deferred when the income recognition criteria have not been met: Profits arising from the disposal of fixed assets are recognised when all conditions attaching to the sale have been satisfied and legal title has been transferred. The profit or loss is recorded net of the residual value of the related assel and any costs associated with its disposal. Expendlture: Expenditure is accounted for on an accruals basis and provision against anticipated costs is made when the Directors consider such costs will likely be incurred. Expenditure indudes irrecoverable VAT. Costs of raising funds comprise costs associated with raising income from donations and legacies. Charitable activity expenditure is rnade up of those costs incurred by the charity in the delivery of ils activities and services. It indudes both direclly attributable costs and those which are nol directly attributable. Such support costs are apportioned to the relevant activity on varying bases, but principally on the basis of the number of staff each activity has within it. Tanglble fixed assets Tangible fixed assets are stated at cost. net of depreciation and any provision for impairmenl. Costs of maintenance are charged to revenue as they are incurred. Fixed assets below a de- minimis limit of £2,000 are not capitalised. Assets in the course of construction are ststed al cost less provision for impairment and are transferred to completed assets when substantially all the activities necessary to get the asset ready for use are complete. Cost includes extemally incurred costs associated with the asset, including construction related project management costs, architectural fees and construction enabling works. Projects that are in the early stages of planning are capitalised when the Direclors are satisfied that the necessary consents will be received and the projects will be completed. Each year the Directors review assets in the course of construction for any potential impairment and make provision rf deefned necessary. 23

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Continued Depreciation is provided on each tangible fixed asset once that asset is brought into use, other than freehold land, at rates calculated to write off the cost of each asset. less its estimated residual value evenly over its estimated useful economic life, as follows: Freehold buildings induding the Sports Hall Fixtures and equipment Motor vehicles Hydrotherapy pool Swimming pool 3-60 years 5 years 5 years 10 years 20 years Where a fixed asset is considered to have a useful life in excess of 50 years, an annual impairment review is perfonned to assess the carrying value of the residual fixed asset as recoverable. Flxed asset Investments Listed investments are revalued to open market value on an annual basis in accordance with FRS102. Any gains or losses on revaluation are taken to the Statement of Financial Activities and recorded under "Net gainsl (losses) on investments". Fixed asset investments include cash on deposil with a maturity in excess of 3 months at the balance sheet date. Penslon schemos The Cornpany participates in a multi*mployer pension scheme. the Government's Teachers, Pension Defined Benefits Scheme, for its teaching staff. It is not possible to identify the assets and liabilities of the Scheme that are attributable to the charity. Accordingly, under FRS102 the Scheme is accounted for as if it were a defined contribution scheme. The charity has arranged a Group Personal Pension Scheme with Legal & General. a defined contribution scheme for those members of staff who are nol eligible to join the Teachers, Pension Scherne. Pension costs charged in the Statement of Financial Activities represent the contributions payable by the charity in the year. Taxation Seashell Trust is a registered charity and, as such, is not liable for taxation on its charitable income. Flnanclal Instruments The Company only holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the Charity and their measurement basis are as follows: Financial Assets fees, accrued income and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note Cash at bank - is dassified as a basic financial instrumenl and is measured at face value. Financial liabilities - trade creditors and other creditors are financial instruments and are measured at amorts'sed cost as detailed in Note 9. 24

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Continued Operating leases Rentals paid under operating leases a￿ charged to the Statement of Financial Aclivities in equal annual instalments over the period of the lease. Critlcal accounting judgements and key sources of estimation uncertainty Accountlng Judgements Recognition of profit on the sale of endowment land The contract under which the Trust has agreed to sell part of its land-holding, provides that the land be transferred to the purchaser in tranches, with legal title of each tranche only being completed upon the satisfactory completion of certain conditions. Not all of these conditions are wholly within the control of the Trust. Consequently, profit on Ihe sale of endowment land is only recognised when all conditions attaching to its sale have been satisfied and legal title transferred. The profit on sale is calculated net of the carrying value attaching to the land sold, together with associated planning. legal and other disposal costs, in proportion to the amount of land legally sold. Estlmatlon Uncertalnty Use of estimates in detemiining c8rying amounts of 8ssets and liabilit18S In the application of the Company s accounting policies. the Directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien￿ and other factors that are considered to be relevanl. Actual results may differ from these estimates. The estimales and undertying 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 fulure periods if the revision affects both current and future periods. Depreciation In respect of depreciation. this is calculated by reference to an estimated usefvl economic life of each major assel category, Judgement is applied in the regular review of useful economic lives, taking into account factors such as actual or planned changes in use of an asset. ongoing costs of maintenance. refurbishment and replacement of that assel and by reference to anlicipated residual values. Assets in the course of construction Assets in the course of construction are stated at cost less any provision for impairment. The calculation of any impairment provision in respect of the costs of Project Transformation requires judgement about the value of those costs now that planning consent has been granted. This year's review considered that no impaim)ent provision was required on the basis that these costs will be of value in assisting the Trust in delivering Project Transformation. 25

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 Analysis of Prior Year Statement of Financial Activities Endow- ment Funds £'ooo Restricted Funds £'ooo Restricted Funds £'ooo 2023 Total £'ooo Note MEFR Donations and legacies 3.200 4,040 Charitable activilies 19,692 494 20,186 Other trading activities 65 65 Interest 66 Other income - profit on disposal of endowrnenl land 3.059 3,059 Total Income 20.663 3.694 3.059 27,416 EXPENDITURE ON: Ralsing funds (576) {576) Charitable activilies (21,682) (757) (22,439) Other (94} (94) Total Expenditure {22,352) (757) (23,109) Net gains on investments Net (expenditure)I Income (1.689) 2.937 3,059 4,307 Transfers between funds 1,645 (3.000) 1,355 Net movement In funds (44) (63) 4,414 4,307 Balances brought foThvard 3.158 416 36.457 40,031 Balances carrled forward 3.114 353 40,871 44,338 26

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 ANALYSIS OF EXPENDITURE (a) Analysis of total expenditure: Other direct costs Staff costs Support costs 2024 Total £'ooo 2023 Total £'ooo £'ooo £'ooo £'ooo Unrestricted funds Expenditure on raising funds Expenditu￿ on Charitable activities Other expenditure 456 171 665 576 18,360 3.426 4,074 244 25.860 244 21.682 Total unrestricted expenditure 18,816 3,597 4,356 26.769 22,351 Restrlcted funds Charitable activities 162 226 388 757 Total restricted expenditure 162 226 757 Total expenditure 18.978 3.597 4,582 27.157 23.109 (b) Support costs Support costs relate to non-staffing costs that are incurred by the Trust that are not directly attribulable to a specific activity. such as overheads including costs of central support funclions (Finance. IT, HR etc.) and site related costs (general utility costs, insurance, site security etc.). (c) Other direct costs Other direcl costs include non-staffing costs, including the costs of agency supply workers, which are directly incurred by the relevant activities of the Trust and include items such as catering and cleaning costs. purchase of educational and training materials, maintenance expendilure and depreciation costs. 27

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 NET INCOME I EXPENDITURE Net income l expenditure is stated after chargingl(crediting): 2024 £'ooo 2023 £'ooo Auditors, remuneration - audit services Depreciation Profil on disposal of endowment land 27 1,469 (13.965) 26 1,760 (3,059) In the year ended 31 August 2020. the Trust enlered into a conditional agreemenl to sell approximately 33 acres of its land to Bloor Homes Limited. The agreement allows for the sale of these 33 acres in discrete tranches. with the sale of each tranche being linked lo. and conditional on, the Trust entering into legally binding contracts for the construction of individual elements of Project Transformats'on. During the year ended 31 August 2024, the conditions attaching to the final tranches of Ihe land sale were satisfied. This resulted in the legal transfer of approximalely 11 acres of land to Bloor Homes Limited. The consideration in respect of this land transfer was £14.5m. In previous years. the Trust had incurred £1.9m of costs in concluding an agreement for the disposal of the 33 acres of land. These costs include legal costs in relaiion to the sale agreernenl. planning advisory and consultancy costs. associated legal and planning application fees in progressing the planning application through its various stages. including the costs of the public planning inquiry in 2019, and land agent fees. These costs were capitalised within assets under construction and are being expensed to the Statement of Financial Activities in line with Ihe proportion of land that is sold. Accordingly, the final capitalised amount of £0.6m was deducted frorn the proceeds of the land transfer in arriving at the net profit on the sale of endowment land as recorded in the Statement of Financial Activities for the year ended 31 August 2024 and all £1.9m has now been expensed. 28

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 EMPLOYMENT COSTS 2024 2023 £'ooo Wages and salaries Social security costs Pension contributs'ons 16.671 1,432 875 14.285 1,231 736 18.978 16.252 The average monthly number of employees in Ihe year was 640 (2023: 586), of which, 37 were qualified teachers and 45 were bank Stsff (2023: 37 and 42 respectively) without specified contractual hours. As at 31 August 2024. the total number of employees was 734 (2023. 680). Neilher the Directors nor persons connected with them received any remuneration or other benefits. The sum of £475 (2023: £1,729) was reimbursed for travel expenses incurred by two (2023: two) Directors during the year. The number of employees whose emoluments (excluding pensior) contributions) exceeded £60,000 during the year was: 2024 Number 2023 Number £60.001- £70.000 £70,001- £80,000 £80.001- £90.000 £90,001- £100,000 £100.001- £110,000 £110.001- £120,000 £120,001- £130,000 £190,001- £200,000 The amount of pension contributions paid into the Pension Scheme for these individuals amounted to £113,000 (2023.. £94.000). The key management personnel are considered by the Directors to be the members of the Trust's Executive Leadership Team as disdosed in the Directors. Report. The total remuneration (including pension and employer national insurance contributions) of the key management personnel for the year was £776,000 {2023: £776,000). 29

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 FIXED ASSETS Freehold land & buildings £'ooo Sports facilities £'ooo Motor vehicles £'ooo Fixtures & Assets under equipment Construction £'ooo £'ooo Total £'ooo Cost At 1 Seplember 2023 Additions Disposals Transfers 39,330 2,816 550 2,930 164 (1.225) 5,477 6,157 51,103 6,520 (7,264) (5,074) 1,269 (752) (213) (1,269) Al 31 August 2024 35,715 2.071 337 1,869 10,366 50,358 Depreclatlon At 1 September 2023 Charge for the year Disposals 7,810 1.222 (4,497) 1,361 125 (752) 512 19 (213) 2,770 103 (1,225) 12,454 1 ,469 (6,688) At 31 August 2024 4,535 734 319 1,648 7,236 Net book value At 31 August 2023 31,520 1,454 159 5,477 38,648 At 31 August 2024 31,180 1,338 18 220 10,366 43,122 The land and buildings are legally owned by Royal Schools for the Deaf Manchester Trust (charity no 1092655-1) of which Seashell Trust (charity no 1092655) is a corporate Trustee. The land on which the sports pitch and cyde track are constructed are subject to legal charges in favour of two third parties.

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 DEBTORS: amounts falling due within one year 2024 £'ooo 2023 £'ooo Fees Accrued income Other debtors and prepayrnenls 3,626 7.170 817 1,262 102 635 11,612 1,999 Where debtors arise from fees in respecl of future periods they are also induded in deferred income wilhin creditors: amounts falling due within one year as disclosed in Note 9. DEBTORS: amounts falling due after more than one year 2024 £'ooo 2023 £'ooo Accrued income 1,862 1.862 Accrued income is in respect of Transfomiing Lives Appeal donations CREDITORS: amounts falling due within one year 2024 £'ooo 2023 £'ooo Trade creditors Taxation and Social Security Deferred income Other creditors and accruals 343 363 1.071 2,226 558 329 233 1,487 4,003 2,607 2024 £'ooo 2023 £'ooo Deferred Income: Balance at 1 September Amount released to income Amount defer￿d in year 233 {233) 1,071 439 {439) 233 Balance at 31 August 1,071 233 Deferred income includes arnounts invoiced in advance in ￿spect of student fees. 31

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 10. ALLOCATION OF THE CHARITY'S NET ASSETS Tangible fixed assets £'ooo Net other assets As at 31 August 2024 Total £'ooo £'ooo Endowment funds Restricted funds Unrestricted funds Unrestricted designated 42,884 13,214 3.556 2,586 56,098 3.556 2.824 238 Total net assets 43,122 19,356 62,478 Tangible fixed assets £'ooo Net other assets £'ooo As at 31 August 2023 Total £'ooo Endowment funds Restricted funds Unreslricted funds Unrestricted designated 38.451 2.420 353 2,819 40.871 353 3.016 98 197 Total net assets 38,648 5.690 44,338 32

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 11. ENDOWMENT FUNDS Balance at 31 August 2024 Balance at 1 September 2023 Income Expense Transfers £'ooo £'ooo £'ooo £'ooo £'ooo Royal Schools for the Deaf Endowment 40,871 13,965 1.262 56,098 40.871 13,965 1.262 56,098 Balance at 31 August 2022 £'ooo Balance at 31 August 2023 £'ooo Income £'ooo Expense £'ooo Transfers £'ooo Royal Schools for the Deaf Endowment Endowment 36.457 3,059 1.355 40,871 40,871 3,059 1,355 36,457 Royal Schools for the Deaf Endowment In accordance with the Charity Commission's view that the land and buildings are presumed to be endowed unless evidence exists to the contrary. £1.3m has been transferred to endowment funds from reslricted and unreslricted reserves during the year, reflecting the land and building additions in the year and restricted donations relating to Project Transformation nol yet Spent, nel of the depreciation charge during the year in respect of endowed fixed assets. 33

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 12. RESTRICTED FUNDS At1 September 2023 £'ooo At31 August 2024 £'ooo Income Expendrture £'ooo Transfers £'ooo £'ooo Transforming Lives Appeal Phase 2 Sundry Funds 132 221 5,532 372 (2,313) 3,351 205 {388) 353 (388) (2,313) 3,556 The Trust's policy is that once restricted fvnds have been used for the purpose for which they were intended any assets purchased are held in unrestricted funds provided that there is no indication that the donor intended the usage to be restricted. During the year £2.3m of Transfoming Lives Appeal Phase 2 funds has been transferred to Endowmenl Funds relating to the costs of Project Transformation. A11 Seplember 2022 £'ooo At31 August 2023 £'ooo Income Expendilure Transfers £'ooo Transforming Lives Appeal Phase 2 Sundry Funds 138 278 3199 495 (205) (552) (3,000) 132 221 416 3,694 (757) (3.000) 353

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 13. UNRESTRICTED FUNDS Balance at Balance at 31 August 2024 £'ooo September 2023 £'ooo Income Expenditure Transfers £'ooo £'ooo £'ooo Designated Strategy Development Unrestrlcted funds 98 (98) 3.016 25.429 {26.769) 1.149 2.824 3,114 25,429 (26,769) 1,051 2,824 Balance at Balanc8 at 31 August 2023 £'ooo September 2022 £'ooo Income Expenditure Transfers £'ooo Designated Strategy Development Unrestrlcted funds 200 (102) 98 2,958 20.663 (22.352) 1,747 3,016 3,158 20,663 (22,352) 1645 3,114 Unrestrlcted deslgnated Strategy Development Fund: this designated fund was established to ring-fence funds for the future development of the Trust's strategy including Site development costs and start-up costs for the development of new services lo the Trust (outside of Project Transfonnalion). During the year. £98k has been transferred to endowment funds to reflect site investments mad8 during the year. Unrestrlcted The Unrestricted Funds include £342,645 in respect of grants received for the rebuilding of the schools on the site at Stanley Road, Cheadle Hulme. They are repayable to HM Governrnenl only in the event that the buildings a￿ sold al some futu￿ date. In the opinion of the Directors this eventuality is so remote as to enable the funds to be categorised as unrestricted. The transfer of £1.149,000 primarily represents the allocation of the depreciation charge relats'ng to endowed assets to the Endowment Fund. 35

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 14. OTHER FINANCIAL COMMITMENTS At 31 August 2024, total commitments under non-cancellable operating leases are as follows: Other 2024 £'ooo Arnounts payable withln 2023 £'ooo Less than 1 year Two to five years 15. CAPITAL COMMITMENTS Amounts contracted for but not provided for in the financial siaiements amounted to £18.8m (2023: £Nil) in respect of Project Transformation. 16. PENSION COMMITMENTS The charity participates in the Teachers, Pension Scheme {TPS). The TPS is a statutory. contributory. defined benefit scheme. governed by the Teachers, Pensions Regulations 2014. These regulations apply to teachers in schools and other educational establishments. including academies. in England and Wales Ihal are maintained by Local Authorities. In addition. teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of further and higher education may be eligible for membership. Membership is automatic for full-time teachers and lecturers in academies and, since 1 January 2007, automatic too for teachers and lecturers in part-time employment following appointrnent or a change of contract. Teachers and lecturers are able to opt out of the TPS. The TPS is an unfunded scheme and members contribute on a 'pay as you go. basis - these contributions along with those made by ernployers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. Valuatlon of the Teachers, Penslon Scheme The Govemment 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 atx)ut tha 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 2020 and in accordance with the Public Service Pensions (Valuations and Ernployer Cost Cap) Directions 2023. The valuation report was published by the Department for Education on 26 October 2023. A copy of the valuats'on report and supporting documentation is on the Teachers. Pensions website. 36

SEASHELL TRUST NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024 16. PENSION COMMITMENTS {continued) The key elements of the valuation and the subsequent consultation are: employer contribution rates were set at 28.680A of pensionable pay (including a 0.080/0 levy for administration), an increase from the p￿VIouS rate of 23.680/0 total scheme liabilities (pensions currently in payment and the estimated cosl of future benefits) for service to the effective date of £262.0 billion, and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222.2 billion. giving a notional past service deficit of £39.8 billion: an employer cost cap of 8.10/0 of pensionable pay will be applied to future valuats'ons; the assumed real rate of GDP growth is 1.7 % p.a. in excess of CPI. Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Trust has accounted for its contributions to the scheme as if it were a defined contribution scheme and has therefore set out atK)ve the infomation available on the TPS. The pensions charge indudes contributions payable to Ihe TPS fund 01 £382.000 <2022-23: £342,000). £51,000 (2022-23: £55,000) of these TPS contributions were reimbursed to Seashell by the Department for Education. Contributions payable to the scheme at the year- end amounted lo £49,000 (2023.. £40,000). The charity also operates a defined contribution pension scheme for those staff not eligible to Join the Teachers, Pension Scheme. The cost forthe year represents the charity's contributions to the Scheme of £518,000 (2022-23: £460.000). Contributions payable lo Ihe scheme at the year-end amounted to £96,000 (2023: £84,000). 17. RELATED PARTY TRANSACTIONS There have been no related party transacts'ons in Ihe year that require disclosure. 37