## **Annual Report and Accounts For the year ended 31 August 2022** 


**Treloar Trust Powell Drive, Holybourne, Alton, Hampshire GU34 4GL** 

**A company limited by guarantee. Registered in England No. 04466362 Charity No. 1092857** 




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## **Our Vision** 

A world where physically disabled young people take control of their lives and achieve their aspira�ons. 

## **Our Mission** 

To enable physically disabled young people to achieve their aspirations by: 

- Providing personalised learning, therapy and care 

- Suppor�ng transition into adulthood 

- Promo�ng independence and inclusion 

## **Our Values** 

## **We are inclusive** 

## **We act with integrity and respect** 

## **We strive for excellence** 

Everyone - regardless of physical ability, where they live or socioeconomic background - should have the opportunity to take part in life. We treat our beneficiaries with the same dignity as their non-disabled peers and work to remove barriers in their way. 

Our students and beneficiaries are always at the centre of everything we do. Before we make decisions, we ask: _“How will our students and beneficiaries benefit from this?”_ 

Physically disabled young people should be free to direct their own lives. We listen to young people’s views and support them to make age-appropriate choices about their daily life and informed choices about their future. 

We celebrate and promote diversity, value and support each other, and treat everyone with respect. We support a culture of openness, honesty and transparency, where the safeguarding of our students and wellbeing of our staff is paramount. 

Physically disabled young people and their families deserve outstanding care and support. We work to make sure all our services are excellent and ac�vely challenge each other to ensure con�nuous quality improvement. 

We con�nually innovate to ensure that our students and beneficiaries receive the cu�ingedge, excellent support they deserve. 


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## **Contents** 

Our Vision, Mission and Values 2 Welcome 4 About Treloar’s 5 Strategic Report 6 Financial Review 10 Key Policies 12 Audit Report 18 Accounts 22 

Officers & Professional Advisers 43 


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## **Welcome** 

This last year has been a huge success, both in those areas where we were intending to make progress, and in dealing with new issues which inevitably come up in these ever-disrupted �mes. 

Our education and care has remained at the highest level, with our school residen�al provision maintaining its Outstanding ra�ng from Ofsted in the first in-person inspection since Covid lockdown. Most importantly our students have con�nued to reach the objec�ves set by themselves, and those working with them, to make progress in academic subjects, and in independence, voca�onal and life skills, according to their tailored individual curriculum. As we have emerged from Covid restric�ons, work placements and other opportuni�es have started again, enriching the lives of our students and also the communi�es they are part of. 

The challenges con�nue however. Those very much at the forefront this year include the national shortage of care and other staff. We have very occasionally had to limit some aspects of our service due to recruitment gaps. Thankfully due to an increased focus on recruitment, and par�cularly due to the restar�ng of recruitment from overseas, this pressure is star�ng to ease, but it will be ongoing for us to some extent as it is for any care provider. We are very discerning about our staff – to maintain our standards we have to be – which means we are really focusing now on staff reten�on and development. 

Our next significant challenge will be managing the infla�onary cost pressures faced by ourselves and Local Authori�es as the main funders of our students’ educa�on. Thankfully, as you will see from our financial statements, we are stable financially, and well-managed. 

This will be my final annual report letter as I am stepping down after nearly eight incredibly enjoyable and fulfilling years with Treloar’s. This comes with sadness, but I am delighted to be handing the baton to one of my fellow Trustees, Dr Victor Olisa QPM, who will have the task of wri�ng the Chair’s le�er next year. 

Thank you to all 


Alistair Mackintosh, Chair of Trustees 

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## **ABOUT TRELOAR’S** 


## **TRELOAR’S IS ONE OF THE LEADING CENTRES OF EXCELLENCE FOR CHILDREN AND YOUNG PEOPLE WITH COMPLEX PHYSICAL DISABILITIES** 

We offer outstanding teaching, learning, professional care, therapy, advice and guidance so that every individual can live, learn, achieve and work towards a future that is as independent as possible. 

## **WHAT WE DO** 

We enable our students to follow a curriculum that meets their individual needs and to learn in an accessible, inclusive and safe environment. Thanks to the hard work of our teachers, therapists, nurses and a wide range of highly trained support staff, we are able to meet the physical and emotional needs of students, enabling them to enjoy greater independence and reach their educa�onal goals. 

Our Progress and Transition team help our students to achieve their aim of placement, whether it’s being able to advocate for themselves more effec�vely, live independently, a�end university, find employment or engage in their local community. 

We are categorised as a special school and college. However, it is central to our approach that disabled people are supported to be part of wider society, not separated from it. Our aim is to enable disabled people to take control of their own lives in a world that be�er understands their needs. 

## **COMPLEX DISABILITIES** 

Our students are physically disabled and most have very complex needs which cannot be met in mainstream set�ngs. Many of the young people we help require round the clock support – and over half of our students stay in one of our five residen�al houses. 

- 100% of our students are wheelchair users 

- 63% of our students are non-verbal or require support from communication aids 

- 45% of our students have a visual impairment 

- 37% of our students have a life-limi�ng condi�on. 

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## **STRATEGIC REPORT** 

## **OVERVIEW OF ACTIVITIES** 

The Trustees of Treloar Trust (‘the Charity’), who are also Directors of the Charity for the purposes of the Companies Act, present their annual report for the year ended 31 August 2022 under the Companies Act 2006 and the Chari�es Act 2011, together with the audited financial statements for that year. 

The financial statements comply with the requirements of the Companies Act 2006, the Charity’s Memorandum and Articles of Association and the relevant Statement of Recommended Prac�ce (the Charities SORP (FRS 102) effective 1 January 2019). 


The Charity is a registered charity (No.1092857) and a company limited by guarantee (No. 04466362). Its registered office is shown on the back of this report. The present Trustees and any past Trustees who served during the year are shown on page 43, together with the names of the senior executive staff and the principal external advisers as at the date of the signing of this report. The Trustees review the purpose, aims and ac�vities of the Charity each year. This review looks at the achievements during the previous year explaining the number and nature of beneficiaries assisted and the extent 

of that assistance. When carrying out the review and planning future ac�vi�es, the Trustees refer to the guidance contained in the Charity Commission’s general guidance on public benefit. In par�cular the Trustees consider how planned activi�es will contribute to the aims and objectives they have set. 

The Charity’s purpose, as set out in the objects clause contained in its Ar�cles of Association, is: ‘To promote the relief of persons with disabilities (whether physical or otherwise) (‘Beneficiaries’) and in par�cular 

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but without limitation by any or all of the following: 

- The promotion, provision and maintenance of schools, colleges and other educational establishments; 

- The promotion and provision of care, therapy, treatment and counselling to beneficiaries; 

- The promotion of employment of beneficiaries whether by way of the creation and operation of workshops and facili�es or otherwise; and 

- The improvement of knowledge, understanding and awareness of the public into the condi�ons of life and the needs of beneficiaries and in par�cular but without limitation by the promo�on of research and the publica�on of the useful results of such research.' 

The Charity currently has four main activities: 

- Educa�ng young people with physical disabili�es 

- Residen�al Care 

- Clinical Services 

- Outreach Services. 

## **UPDATE ON PLANS AND DEVELOPMENTS** 

In our annual report for the year to August 2021, we set out our plans for 2021/22 and beyond. These plans, together with an update on progress during the year are described below: 

Last year we believed we were star�ng to gradually emerge from the Covid crises and so our objectives for the year started to expand to meet emerging opportuni�es. Beyond our overriding objec�ves of ensuring the safety of all our students and staff, and ensuring our students receive the fullest and best quality educa�on, therapy and care possible our objectives were: 

- Maintain the school and college’s reputa�on as Outstanding providers. In March Treloar’s received another Outstanding ra�ng from Ofsted for its school residen�al provision meaning that it remains rated as one of the very best providers in the country. Treloar’s is also rated Outstanding in the School and College by Ofsted for its educa�on provision as well as being rated Outstanding by the CQC for Treloar’s care and residen�al provision. 

- Con�nue to embed new student pathways and post-pandemic recovery at the School and College 

   - This year we have con�nued to adapt the curriculum to meet individual needs with a par�cular focus on experiencing the world of work. 

- Implement an updated package of recruitment and reten�on measures to enable Treloar’s to support more young learners including taking on an interna�onal recruitment sponsorship license. 

Staff recruitment has been very difficult over the past 12 months in line with the care sector more generally. Significant pay rises for lower paid and care staff started to address shortages later in the year as did the opening of new staff housing. We now have an international recruitment sponsorship licence, but care staffing con�nues to provide Treloar’s with its greatest challenge. 

- Improve outdoor learning opportunities with the provision of an expanded Outdoor Learning Centre and development of a Forest School. 

Phase 1 of the outdoor learning centre was opened during the year and a Phase 2, a classroom, is now under construc�on. The Forest school was opened by HRH The 

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Countess of Wessex GCVO in September 2022. 

also submitted a detailed response to the Government’s dra�SEND strategy, on 


- Complete our Key worker accommoda�on development as part of our work to ensure staffing of evening and weekend provision. The Key worker accommoda�on opened in September. 

- Enhance our 52 week offer in scale and in quality. 

   - Unfortunately to make sure that we con�nue to be safely staffed in a difficult recruitment environment, we have suspended our 52 week provision. Instead and from 2022/23 we will be looking to build a short respite provision during the holidays. 

- Expanding our independent living op�ons with new units in Alton town centre. This ini�a�ve is on track and we expect to welcome our first residents to new units at Rivermead in the town centre in the summer of 2023. 

- Engage with local authori�es to support beneficial measures arising from local strategies and the SEND Review. We have engaged with all local authority partner teams to formulate how we might assist them in their wider strategies to support students in other se�ngs. We 

   - behalf of disabled students with complex needs and the organisa�ons like ourselves who serve them. These plans have since been put on hold by government. 

- Review our communica�ons and core messaging, including refreshing our website and online presence. We have agreed and enacted new core text and messaging, as well as refreshing aspects of our website, pending a re-build. Our social media channels have been extremely ac�ve with daily context showcasing the lives of our students and the work of the school and college. 

- Con�nue to expand our fundraising ac�vities to enable our students and others to access the specialist staff, equipment and experiences they need to grow in confidence and live a fulfilling life. We con�nue to rebuild fundraising since the pandemic lockdown, holding in-person events such as our gala dinner in Mansion House of London. Thanks to the generosity of our donors we have completed or commenced several major projects including construction of our new key worker accommoda�on, a significant 

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refurbishment of our swimming and our 

new Outdoor learning centre. 

We are expec�ng substantial challenges in 2022/23 born out of four external factors; firstly a staffing crises in care, secondly significant cost pressures in the labour and u�lities markets, thirdly the real terms squeeze on local authority purses and finally the challenging fundraising environment. Despite these challenges we have many exci�ng plans and opportuni�es for the year ahead and our overriding objec�ves are: 

- Further our excellence as a leading school and college for physically-disabled young people 

- Implement further package of recruitment and retention measures to enable Treloar’s to support more young learners including taking on an international recruitment sponsorship license. 

- Improve outdoor learning opportunities with the opening of a classroom as a focal point for our new Outdoor Learning Centre and integrate the opportuni�es generated by the newly opened Forest School into the curriculum. 

- Launch a summer holiday respite programme to our students. 

- Contribute on a wider scale to the educa�on and support of physicallydisabled young people. 

- We will con�nue to enable the voice of our students to be heard, working with other chari�es in the disability sector to ensure that they can contribute to campaigns for be�er inclusion in wider society. 

- Develop future living op�ons for disabled people who have le�full-time education. This will include advising and partnering with housing providers and others to s�mulate new developments. 

- Expanding our independent living op�ons for people who have le�full �me educa�on with the opening of new units in Alton Town Centre and comple�ng feasibility studies of at least one other opportunity. 

- Refreshing and upda�ng our brand iden�ty and building a new website. 

- Progress environmental projects as part of our goal to halve our carbon footprint by 2030. 

- Con�nue to expand our fundraising ac�vities to enable our students and others to access the specialist staff, equipment and experiences they need to grow in confidence and live a fulfilled life. 


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## **Financial Review** 

In 2021/22 the Treloar’s delivered a small net income of £7k (2021: £804k), before actuarial gains of £3.71m, (2021: £2.27m) on a turnover of £26.0m (2021: £25.7m). 

Staff recruitment was challenging in the year as we readjusted to the demands of Brexit and a more general recruitment malaise in social care. As a direct result we chose to defer some student start dates beyond the year end meaning that student numbers actually fell with college one lower by the year end at 88 relative to July 2021 (plus 2 interns) and school finishing the year 5 lower at 74. As a result income from charitable activi�es fell by 0.6% to £23.6m (2021: £23.8m). Donations and legacies increased by 21% to £1.47m (2021: £1.22m), as fundraising ac�vities stepped up post Covid. Event income, whilst remaining below historic levels grew at a similar rate to £94k (2021: £79k) helping other fundraising ac�vi�es to nudge upwards to £296k (2021: £287k). 

Whilst total income was up marginally, expenditures were contained and actually fell by 0.6% to £26.0m (2021: £26.2m). Much of the reason for this fall was down to a fall in average staff numbers, down 44 to 832, which offset increases in salary levels par�cularly amongst care staff. 

Except for the performance of investments, the net income performance was slightly be�er than in 2021. The performance of our investments was flat in 2022 but s�ll beat that of markets generally, but was well behind the strong gains made on investments in 2021 - £47k against £1.24m. A substan�al actuarial gain on the Defined Benefit Pension Scheme of £3.71m (2021: £2.27m) allowed the charity’s total funds to grow by £3.71m to 

£30.4m. This actuarial gain reflected a fall in the funds future liabilities. 

The only other balance sheet and cash flow highlight relates to the addi�on of a new building (Key worker accommodation) together with a £1m loan to part finance this build. The build was completed without drawing on investments meaning that net current assets reduced by £2.03m to £585k. 

Treloar Trust has only one subsidiary, Treloar Enterprises Limited (TEL). The wholly owned subsidiary carries out non charitable activities for the benefit of Treloar Trust. 

During the year to 31 August 2022, TEL made an opera�ng profit of £73k (2021: £21k) a combina�on of increased le�ngs income and shop income as more people are once again on site each week post Covid. This profit was donated to Treloar Trust. The Treloar Trust has taken exemp�on from the produc�on of consolidated financial statements because the figures for the group (incorpora�ng TEL) would not be materially different to those of the Trust as a single en�ty and has included in the notes to these accounts the results of TEL. The financial statements on the following pages therefore show the assets and operations of the Trust itself rather than the group as a whole. 

General reserves are deemed to be those that are readily realisable less funds whose use is restricted or designated for a par�cular purpose. Thus the calculation of general reserves excludes property and other fixed assets that con�nue to be used in the day to day operation of Treloar’s and in par�cular the buildings used by the school and college. 

The designated fund primarily represents the net book value of tangible fixed assets, which have been purchased with unrestricted funds. 

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This reserve is locked into the value of the estate and can be released only if all or part of the estate is sold. The value of the fund rose during the year to £19.5m (2021: £16.7m) because of new building works, most notably the construction of the new Key worker accommoda�on. Restricted Funds £9.90m (2021: £9.60m) represent monies received for a restricted purpose with the vast majority of these funds linked to specific building appeals £8.35m (2021: £8.51m). Endowed funds £1.63m (2021: £1.66m) are made up of the Rossington Fund £944k (2021: £1.01m) and Billesden Fund £690k (2021: £652k) and are given to help students access education and to help monitor and support alumni progress respectively. 

The Historic Defined Benefit Pension Scheme fund deficit relates to the excess of liabilities over assets in the defined benefit scheme. In 2021/22 total future obliga�ons reduced by £13.4m to £31.9m and the value of assets fell 

by £9.4m to £25.5m with most of the fall in asset value associated with instruments designed to hedge future obliga�ons. Overall, the net deficit reduced to £6.41m. 

The Trustees regularly review the value of the reserves required to be held in investments, cash and cash equivalents not restricted to or designated for any par�cular purpose. Ideally the Trustees believe that a general reserve of over 3 months expenditure is needed to provide adequate working capital, to create a buffer in case of a sudden reduction in student numbers and to allow for fluctuations in investment returns. At 31 August 2022, the General Reserve was £5.78m (2021: £9.07m), equivalent to just under 3 months. This figure is over 3 months if long term finance is factored in. The Trustees consider this level of general reserves to be adequate at this time. 


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## **Key Policies** 

## **Risk Management** 

Treloar’s risk management policy is based around a hierarchy of an overarching risk management schedule which contains all of the key risks that the organisa�on is, or poten�ally could be, exposed to, linked with the relevant mi�gating actions, together with a prac�cal risk assessment process and the operational tasks that emanate from it. 

Responsibility for each area rests with an appropriate member of the Leadership team overseen by a Risk and Compliance sub committee of the Trust Board, which regularly reviews the status of each risk and the effec�veness of the management controls. At the highest level, the Trustees receive termly reports in the form of an updated risk management schedule that demonstrates that the appropriate actions have been or are being implemented. Given the challenging regulatory, economic and social environment within which Treloar School, Treloar College and Fundraising operate, risk management is an essen�al element of the Trust’s management system. 

## **The key risks that currently face Treloar’s and principal mitigating strategies are:** 

- Inability to recruit sufficient students, which is managed by liaising closely with local authorities to ensure the relevance and value of our offer, by maintaining the quality of our educational provision, and by focused marke�ng ini�a�ves. 

- Inability to recruit, develop and retain sufficient skilled staff, which is managed by innovative approaches to recruitment, offering a high level of training and development opportuni�es, helping key workers with accommodation and by ac�vely listening to our staff and, where necessary, providing support and/or flexible working pa�erns. 

- Nursing, medical and dietary errors, which we manage by maintaining a highly specialised nursing team and die�cians, strict protocols over medica�on management, food labelling and close monitoring of performance indicators. 

- Safeguarding failure or adverse regulator opinion. The Trust keeps quality at the forefront of its strategy. The safeguarding risk is managed through recruitment policies, training, risk assessment, 

opera�ng policy, incident repor�ng and a dedicated safeguarding manager. 

- Promotion of a safety conscious culture led by a Health & Safety Manager, governed by Policy & Training and including a comprehensive Compliance Register. 

- Lower than budgeted level of fundraising prevents the Charity investing in value adding facili�es and opportuni�es. This risk is managed by undertaking different types of fundraising and the steerage of a dedicated commi�ee. 

- Pension fund requires addi�onal support from the Trust. The Pension Trustee uses professional advisers to ensure that investment strategy is designed to deliver required returns and hedge liabili�es. 

- Data protection failure, which we manage by following the General Data Protection Regula�ons and ensuring we have appropriate backup and data recovery systems. 

- Funding inadequacy per student. We provide full clarity to our funders of our fees and demonstrate how the necessities of all moneys spent and value added. None-the-less we are aware of the cost pressures facing local authori�es. 

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- Supplier disrup�on and infla�on, Brexit, labour and energy shortages and market uncertain�es have impacted supply chains and increased costs. Where we can we mi�gate risks by hedging costs and by maintaining adequate stock levels of cri�cal supplies and developing con�ngency plans. 

- Treloar’s is named in the on-going statutory inquiry into the provision of infected blood. It has been no�fied of the poten�al for future li�ga�on although no court proceedings have been issued against the charity. 

## **Equal Opportuni�es** 

The advancement of diversity and inclusion is part of Treloar’s core values and we are commi�ed to being an inclusive organisation where diversity is celebrated and valued. 

Treloar’s strives to create a culture where mutual cooperation, respect, dignity and trust are fostered. Treloar’s will not tolerate unfair or unlawful treatment on the grounds of age, disability, gender, transgender, marital status, race, colour, ethnic origin, socio-economic background, sexual orienta�on, nationality, trade union membership and ac�vity, philosophical, poli�cal or religious beliefs or unbelief, and pregnancy or maternity. Ini�a�ves are headed by a dedicated equality, diversity and inclusion coordinator repor�ng 

directly to the Quality and Performance subcommittee of the Governing Body. 

Treloar’s aims to foster a values-based culture focused on diversity and inclusivity and as such, we report on our gender pay gap annually. In April 2022 our mean gender pay gap was 4.7% (2020: -1.8%) and median was - 6.5% (2020: -7.5%). Additionally we are choosing to report on our Black, Asian and Minority Ethnic and (declared) disability pay gap for the first time. The Black, Asian and Minority Ethnic mean pay gap was 12.8% (2020: 13.0%) and median was 8.0% (2020: 9.4%) indica�ng employees from such backgrounds earn less than those from a white background. The disability mean pay gap was 6.1% (2020: 5.8%) and the median was 3.6% (2020: 5.2%) which shows disabled employees are paid less than non-disabled employees. 

These reports highlight the importance of a con�nued commitment towards encouraging applica�on and progression from applicants/employees with disabili�es and with Black, Asian and Minority Ethnic backgrounds to address differen�als. 

We remain committed to ensuring that all staff receive equal pay for equal work and are confident employees at Treloar’s are treated equally in terms of pay on appointment and throughout their careers. 


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## **Communicating with Staff and Volunteers** 

Internal communication is a key driver of engagement and feedback at Treloar’s. 

This communication includes: a regular communica�on of key matters from the leadership via the Trust’s intranet, a halftermly ‘Staff News’ publica�on, a half-termly Chief Execu�ve’s report, and an annual briefing on current strategy from the Chief Executive. All teams have staff mee�ngs, and there is a Staff Consulta�on Group and a Staff Voices Conference. Staff and volunteer ques�onnaires are used to ensure that communica�on is genuinely two-way. 

## **Environmental & Sustainability** 

Alongside delivering on the charity’s objects, we are commi�ed to improving our sustainability and ethical impact more generally. Our primary environmental goal is to cut the greenhouse gas that we generate on our campus by 50% by 2030. This goal is complimented by two secondary goals to contribute to the reduction of emissions by others (e.g. by changing behaviours) and reducing non recyclable waste. Steps taken include: 

- Delivering on actions from a recent ESOS (energy saving opportunity scheme) audit. 

- Expand ‘cycle to work’ and bike loan schemes, removed single use plas�cs wherever viable and increased our recycling programme. Staff and students are involved wherever possible through the Eco council and achieved Green Flag status in July. 

- Develop metrics to measure key indicators such as measuring the units of gas and non-solar electricity we consume, coun�ng the number of petrol and diesel vehicles entering our site daily, coun�ng the 


amount of single use plastics consumed and measuring volumes of recycling so as to set targets and manage. 

- Addi�onally in 2022/23 we will introduce a car sharing scheme, install vehicle charging points, replace one of our buses with an electric vehicle, add to the volume of solar paneling, open Treloar’s first building with ground source hea�ng and open a Forest School. We will also use the metrics we are now collec�ng to steer our developing strategy. 

## **Fundraising Statement** 

Sec�on 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising ac�vi�es. 

The legislation defines fundraising as ‘solici�ng or otherwise procuring money or other property for charitable purposes’. Such amounts receivable are presented in our financial statements as ‘dona�ons and legacies’ and as ‘Other fundraising ac�vities’ which includes income from our lottery and events. The day-to-day management of all income generation is delegated to the executive team, who are accountable to the Trustees. The Charity is not bound by any regulatory scheme. However the Charity has voluntarily registered with the Fundraising Regulator and complies with the regulator’s codes of prac�ce. We have received six complaints in the year in rela�on to fundraising ac�vi�es all of which have been 

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resolved and reported to the regulatory body. Our terms of employment require staff to behave reasonably at all times. 

and July 2019. The Board of Trustees is responsible for the overall governance of the Charity and meets as a board at least three �mes a year. 

## **Investment Powers** 

The Ar�cles of Associa�on of the Charity state that it has the power ‘to deposit or invest funds in any manner as the Trustees shall in their absolute discretion think fit to the intent that the Trustees shall have the same full and unrestricted powers of inves�ng and transposing investments in all respects as if they were beneficially absolute owners…’. 

In the year we split our investment Portfolio between Ruffer LLP and Cazenove Capital with both investment managers adop�ng a total return basis to investment policy. Both are targeted to provide a return of RPI plus 4% a�er fees have been taken into account. Our investments have performed creditably with a small growth of £290k (2021: £1.24m) being achieved in spite of turbulent market condi�ons. 

The Defined Benefit Pension Fund investments are held totally separate from the Trust assets and investments. The funds are managed by professional fund managers appointed by the Independent Pension Scheme Trustee, Apex Group. Apex Group consults in depth with the Trust before appoin�ng investment managers and determining the asset alloca�on policies to be followed. The Trustees receive quarterly reports on the performance of its funds and the Investment Sub-Commi�ee meets the investment manager twice a year to monitor their performance with the help of external professionals. 

## **Governance** 

The Charity is governed by its Memorandum and Ar�cles of Associa�on adopted in June 2002 and amended in July 2010, March 2017 

In addi�on there are four Trustee committees covering Finance, Investment and Audit; Risk and Compliance; Fundraising; and Nominations and Remunera�on. These commi�ees all meet a minimum of three �mes a year. The Charity follows the seven principles which make up the Charity Governance Code. The pay and contractual terms of senior execu�ves is set by the Nominations and Remunera�ons committee of the Trustees with reference to market condi�ons. The key aspects of overseeing the school and college are delegated to the Governing Body, which is a subcommittee of the Board of Trustees. The Chairman of the Governing Body and at least three other members of the Governing Body are Trustees, whilst the majority of Governors are independent ( not otherwise a direct stakeholder in the school or college) and have a wide range of relevant professional and management skills and backgrounds. The Governing Body meets at least four times a year. 

## **TRUSTEE SELECTION, INDUCTION AND APPRAISAL** 

The Board of Trustees regularly reviews the composi�on of itself, the Governing Body and its various subcommi�ees through the Nominations and Remunera�on Commi�ee. 

The Trustees look at the blend of experience and skills of all Governors and Trustees to ensure that these meet the needs of the Charity. Where vacancies arise, a formal recruitment process is undertaken. This involves adver�sing both locally and na�onally as well as more informal approaches to individuals who have the 

15 



relevant skills and experience. Selection is made after a rigorous process including visits to the Charity and interviews by senior staff as well as Trustees and Governors. All new Governors are invited to attend the standard staff induc�on days held at the start of each term. Governors are expected to visit the school and college regularly outside the normal mee�ngs of the Governing Body and to undertake training on a con�nuing basis on subjects relevant to the opera�ons of the school and college. The Trustees and Governors undertake skill audits, selfevaluations and appraisals on a regular basis. This enables Teloar’s to provide training to enhance their understanding and knowledge of the Charity to ensure all Trustees and Governors are able to sa�sfy themselves of their own performance. 

## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** 

The Trustees are responsible for preparing the Strategic Report, the Annual Report and the Financial Statements in accordance with applicable law and regulations. 

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accoun�ng Practice (United Kingdom Accoun�ng Standards and applicable law). 

Under company law the Trustees must not approve the financial statements unless they are sa�sfied that they give a true and fair view of the state of affairs of the Charity and of the incoming resources and applica�on of those resources, including the income and expenditure, of the Charity for that period. 

In preparing these statements, the Trustees are required to: 

- Select suitable accoun�ng policies and then apply them consistently; 

- Make judgements and accoun�ng estimates that are reasonable and prudent; and 

- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will con�nue in business. 

The Trustees are responsible for keeping adequate accoun�ng records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulari�es. Financial statements are published on the Charity’s website in accordance with legislation in the United Kingdom governing the prepara�on and dissemination of financial statements, which may vary from legisla�on in other jurisdic�ons. The maintenance and integrity of the Charity’s website is the responsibility of the Trustees. The Trustee’s responsibility also extends to the ongoing integrity of the financial statements contained therein. 

## **CORPORATE GOVERNANCE** 

The Trustees have overall responsibility for ensuring that the Charity has appropriate systems and controls, financial and otherwise to provide assurance that: 

- The Charity is opera�ng efficiently and effectively; 

- All assets are safeguarded against unauthorised use or disposi�on and are properly applied; 

- Proper records are maintained and financial information used within the Charity, or for publication, is reliable; and 

16 



- The Charity complies with relevant laws and regula�ons. 

In so far as the Trustees are aware, there is no relevant audit informa�on of which the Charity’s auditors are unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that informa�on. Internal controls over all forms of commitment and expenditure con�nue to be refined to improve effec�veness. Processes are in place to ensure that performance is monitored and appropriate management information is prepared and reviewed regularly by both the executive management and the Trustees. The systems of internal controls are designed to provide reasonable but not absolute assurance against material mis-statement or loss. 

They include: 

- Annual management plans and annual budgets approved by the Trustees; 

- Regular consideration by the Trustees of financial results, variances from budgets, non-financial performance indicators and benchmarking reviews; 

- Delega�on of day-to-day management authority and segrega�on of du�es; and 

- Iden�fica�on and management of risks. 

All major decisions are reserved to the Trustees and include appointment and remunera�on of key management. Execu�ve remunera�on is set in considera�on of the nature of the role, its responsibili�es and market salaries. The Trustees and Governors all give of their time freely. 

The Annual Report and Accounts, incorpora�ng the Strategic Report, were approved by the Trustees in their capacity as Directors of the Company on 23 January 2023 and signed on their behalf. 


Dr Victor Olisa QPM, Chair of Trustees 


17 



## **Audit Report** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRELOAR TRUST** 

## **Opinion on the financial statements** 

In our opinion, the financial statements: 

- give a true and fair view of the state of the Charitable Company’s affairs as at 31 August 2022 and of it’s incoming resources and applica�on of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accoun�ng Prac�ce; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

We have audited the financial statements of Treloar Trust (“the Charitable Company”) for the year ended 31 August 2022 which comprise the statement of financial ac�vi�es, the balance sheet, the cash flow statement and notes to the financial statements, including a summary of significant accoun�ng policies. The financial repor�ng framework that has been applied in their preparation is applicable law and United Kingdom Accoun�ng Standards, including Financial Repor�ng Standard 102 _The Financial Repor�ng Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accoun�ng Practice). 

## **Basis for opinion** 

We conducted our audit in accordance with Interna�onal Standards on Audi�ng (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibili�es for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## _Independence_ 

We remain independent of the Charitable Company 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 responsibili�es in accordance with these requirements. 

## **Conclusions related to going concern** 

In audi�ng the financial statements, we have concluded that the Trustees’ use of the going concern basis of accoun�ng in the prepara�on of the financial statements is appropriate. 

Based on the work we have performed, we have not iden�fied any material uncertain�es rela�ng to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to con�nue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibili�es and the responsibili�es of the Trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The Trustees are responsible for the other informa�on. The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our 

18 



report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other informa�on 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 iden�fy such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other informa�on, we are required to report that fact. 

We have nothing to report in this regard. 

## **Other Companies Act 2006 repor�ng** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees’ Report, which includes the Directors’ Report and the Strategic report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Strategic report and the Directors’ Report, which are included in the Trustees’ Report, have been prepared in accordance with applicable legal requirements. 

## In the light of the knowledge and 

understanding of the Charitable Company and its environment obtained in the course of the audit, we have not iden�fied material misstatement in the Strategic report or the Trustees’ report. 

We have nothing to report in respect of the following ma�ers in rela�on to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accoun�ng records have not been kept Charitable Company, or returns adequate for our audit have not been received from branches not visited by us; 

or 

- the Charitable Company financial statements are not in agreement with the accoun�ng records and returns; or 

- certain disclosures of Directors’ remunera�on specified by law are not made; or 

- we have not received all the information and explana�ons we require for our audit. 

## **Responsibilities of Trustees** 

As explained more fully in the Trustees’ responsibili�es statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the prepara�on of the financial statements and for being sa�sfied that they give a true and fair view, and for such internal control as the Trustees 

determine is necessary to enable the prepara�on of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company’s ability to con�nue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accoun�ng unless the Trustees either intend to liquidate the Charitable Company or to cease opera�ons, or have no realis�c alterna�ve but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regula�ons made or having effect thereunder. 

19 



Our objec�ves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable 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 the basis of these financial statements. 

_Extent to which the audit was capable of detec�ng irregularities, including fraud_ 

Irregulari�es, including fraud, are instances of non-compliance with laws and regula�ons. We design procedures in line with our responsibili�es, outlined above, to detect material misstatements in respect of irregulari�es, including fraud.: 

- Discussed with management, including consideration of known or suspected instances of non-compliance with laws and regula�ons and fraud meetings of those charged with governance, reviewing correspondence with HMRC and the ESFA to iden�fy any actual or potential frauds or any poten�al weaknesses in internal control which could result in fraud suscep�bility 

journals, reviewed the applica�on of judgements associated with accoun�ng estimates for the indica�on of poten�al bias and tested the applica�on of cut-off and revenue recognition. 

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detec�ng a material misstatement due to fraud is higher than the risk of not detec�ng one resul�ng from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. 

A further descrip�on of our responsibilities for the audit of the financial statements is located at the Financial Repor�ng Council’s (“FRC’s”) website at: 

h�ps://www.frc.org.uk/auditorsresponsibili�es. This description forms part of our auditor’s report. 

- Reviewed items included in the fraud register 

- Challenged assump�ons made by management in their significant accoun�ng estimates 

- In addressing the risk of fraud, including the management override of controls and improper income recognition, we tested the appropriateness of certain manual 

20 



## **Use of our report** 

This report is made solely to the Charitable Company’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 Charitable Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permi�ed by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 


James Aston (Senior Statutory Auditor) 

For and on behalf of BDO LLP, statutory auditor 

Gatwick, West Sussex, UK 

## 14 February 2023 

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127). 


21 



## **STATEMENT OF FINANCIAL ACTIVITIES (including the Income and Expenditure Account)** 

## **YEAR ENDED 31 AUGUST 2022** 

|**Note **<br>**Income from:**<br>**Donations and legacies**<br>2<br>**Charitable activities**<br>Teaching<br>Medical<br>Care<br>Total income from charitable activities<br>**Income from other trading activities**<br>Other fundraising activities<br>2<br>Rent<br>3<br>Total income from other trading activities<br>Investment income<br>4<br>**Total income**<br>**Expenditure on:**<br>**Raising funds**<br>**Charitable activities**<br>Teaching<br>Medical<br>Care<br>Total expenditure on charitable activities<br>**Total expenditure**<br>**5**<br>Net gains/(losses) on investments<br>**7**<br>**Net (expenditure)/income**<br>Actuarial gain on defined benefit scheme<br>**15**<br>**Net movement in funds**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|**2022**<br>**2021**<br> **Unrestricted Restricted**<br>**Endowed**<br>**Total**<br>**Unrestricted Restricted**<br>**Endowed**<br>**Total**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**469**<br>**1,003**<br>**-**<br>**1,472**<br>527<br>694<br>-<br>1,221<br>**8,250**<br>**-**<br>**-**<br>**8,250**<br>8,495<br>-<br>-<br>8,495<br>**5,142**<br>**-**<br>**-**<br>**5,142**<br>5,160<br>-<br>-<br>5,160<br>**10,244**<br>**-**<br>**-**<br>**10,244**<br>10,118<br>-<br>-<br>10,118|
|---|---|
||**23,636**<br>**-**<br>**-**<br>**23,636**<br>23,773<br>-<br>-<br>23,773<br>**296**<br>**-**<br>**-**<br>**296**<br>287<br>-<br>-<br>287<br>**300**<br>**-**<br>**-**<br>**300**<br>348<br>-<br>-<br>348|
||**596**<br>**-**<br>**-**<br>**596**<br>635<br>-<br>-<br>635<br>**267**<br>**-**<br>**-**<br>**267**<br>103<br>-<br>-<br>103|
||**24,968**<br>**1,003**<br>**-**<br>**25,971**<br>**25,038**<br>**694**<br>**-**<br>**25,732**|
||**677**<br>**7**<br>**-**<br>**684**<br>601<br>8<br>-<br>609<br>**7,832**<br>**293**<br>**-**<br>**8,125**<br>8,085<br>259<br>-<br>8,344<br>**5,059**<br>**133**<br>**-**<br>**5,192**<br>5,252<br>188<br>-<br>5,440<br>**11,745**<br>**264**<br>**-**<br>**12,009**<br>11,541<br>233<br>-<br>11,774|
||**24,637**<br>**690**<br>**-**<br>**25,327**<br>24,878<br>680<br>-<br>25,558|
||**25,314**<br>**697**<br>**-**<br>**26,011**<br>**25,479**<br>**688**<br>**-**<br>**26,167**|
||**77**<br>**-**<br>**(30)**<br>**47**<br>1,097<br>-<br>142<br>1,239|
||**(269)**<br>**306**<br>**(30)**<br>**7**<br>**656**<br>**6**<br>**142**<br>**804**|
||**3,707**<br>**-**<br>**-**<br>**3,707**<br>2,268<br>-<br>-<br>2,268|
||**3,438**<br>**306**<br>**(30)**<br>**3,714**<br>**2,924**<br>**6**<br>**142**<br>**3,072**<br>**15,443**<br>**9,596**<br>**1,664**<br>**26,703**<br>12,519<br>9,590<br>1,522<br>23,631|
||**18,881**<br>**9,902**<br>**1,634**<br>**30,417**<br>**15,443**<br>**9,596**<br>**1,664**<br>**26,703**|



There are no gains or losses other than those shown in the Statement of Financial Activities above. 

All operations were classed as continuing. 

**The notes on pages 25 to 41 form part of these financial statements.** 

22 



## **BALANCE SHEET AS AT 31 AUGUST 2022** 

||**Note**|**2022**||**2021**||
|---|---|---|---|---|---|
|||**£000s**|**£000s**|**£000s**|**£000s**|
|**Fixed assets**||||||
|Tangible fxed assets|8||**27,456**||24,820|
|Investments|9||**10,597**||10,397|
|Total fxed assets|||**38,053**||35,217|
|**Current assets**||||||
|Stock||**9**||9||
|Debtors|10|**6,945**||7,229||
|Investments|9|**24**||24||
|Cash at bank and in hand||**3,002**||3,389||
|Total current assets||**9,980**||10,651||
|**Liabilities**||||||
|Creditors: Amounts falling due within one year|11|**(9,395)**||(8,033)||
|**Net current assets**|||**585**||2,618|
|**Total assets less current liabilities**|||**38,638**||37,835|
|**Creditors; due after more than one year; bank loans**||||||
|**and overdrafts**|11||**(944)**||-|
|Provision for liabilities and charges|12||**(868)**||(794)|
|**Net assets excluding pension scheme liability**|||**36,826**||37,041|
|Defned beneft pension scheme liability|15||**(6,409)**||(10,338)|
|**NET ASSETS**|||**30,417**||**26,703**|
|**The funds of the charity**||||||
|Restricted Funds|13||**9,902**||9,596|
|Endowed Funds|13||**1,634**||1,664|
|Designated funds|16|**19,507**||15,867||
|General reserves|16|**5,783**||9,914||
|Defned beneft pension scheme fund|15|**(6,409)**||(10,338)||
|Unrestricted funds|16||**18,881**||15,443|
|**TOTAL FUNDS**|||**30,417**||**26,703**|
|Approved by the Board of Trustees on the 23rd January 2023 and signed on its behalf by||||||
|Dr Victor Olisa||Michael Chadwick||||
|Trustee||Trustee||||



**Company registration number: 4466362** 

**The notes on pages 25 to 41 form part of these financial statements** 

23 



## **CASHFLOW STATEMENT** 

## **YEAR ENDED 31 AUGUST 2022** 

|**Reconciliation of net income/(expenditure) to net cash fow from operating activities**<br>**Net income for the reporting period (as per the statement of financial activities)**<br>**Adjustments for:**<br>Depreciation charges<br>Net gains on investments (including investment property)<br>Investment income shown in investing activities<br>Decrease in stock<br>Decrease/(Increase) in debtors<br>Increase in creditors due within one year<br>Increase in creditors due over one year<br>Increase in provisions for liabilities and charges<br>Net (repayments) for defined benefit pension scheme<br>**Net cash provided by operating activities**<br>**Statement of cash fows**<br>**Cash fows from operating activities**<br>Net cash provided by operating activities<br>**Cash fows from investing activities**<br>Investment income<br>Purchase of tangible fixed assets<br>Proceeds of sale of investment (including investment property)<br>Purchase of investments<br>Net cash used in investing activities<br>Change in cash and cash equivalents in the reporting period<br>Cash and cash equivalents at the beginning of the reporting period<br>**Cash and cash equivalents at the end of the reporting period**<br>**Analysis of cash and cash equivalents**<br>Cash at bank and in hand<br>Current asset investments<br>Cash equivalents held in fixed asset investments|**2022**<br>**£000s**<br>**7**<br>**1,321**<br>**(47)**<br>**(267)**<br>**-**<br>**284**<br>**1,362**<br>**944**<br>**74**<br>**(222)**<br>**3,456**<br>**3,456**<br>**267**<br>**(3,957)**<br>**4,224**<br>**(4,480)**<br>**(3,946)**<br>**(490)**<br>**3,793**<br>**3,303**<br>**3,002**<br>**24**<br>**277**<br>**3,303**|**2021**<br>**£000s**<br>**804**<br>1,276<br>(1,239)<br>(103)<br>1<br>(6,232)<br>6,038<br>-<br>217<br>(109)|
|---|---|---|
|||**653**|
|||**653**<br>103<br>(1,496)<br>6,258<br>(7,242)|
|||(2,377)|
|||(1,724)<br>5,517|
|||**3,793**|
|||3,389<br>24<br>380|
|||**3,793**|



## **The notes on pages 25 to 41 form part of these financial statements** 

24 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1. ACCOUNTING POLICIES** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **a) Scope and basis of the financial statements** 

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments at market value and investment properties as stated in note 9, and are in accordance with the Statement of Recommended Practice: Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (the 'SORP 2019'), FRS 102: The Financial Reporting Standard applicable in the UK and Ireland ('FRS 102'), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice. 

The financial statements have been prepared on a going concern basis. The Trustees consider that the Charity is able to continue to operate as a going concern (even after considering the impact of Covid 19) and thus it is appropriate to prepare the financial statements on a going concern basis. 

Treloar Trust is a private company limited by guarantee, incorporated in England and Wales, and constitutes a public benefit entity as defined by FRS102. The Trustees confirm that they have complied with the requirements and duty in Section 17 of the Charities Act 2011 to have regard to the Charity Commission's general guidance on public benefit; Charities and Public Benefit, and that the activities of the Charity, particularly in the areas of education and disability services, are for the public benefit. 

The preparation of the financial statements in accordance with FRS102 requires the trustees to make judgements, estimates and assumptions that affect the application of policies and reported amounts in the financial statements. The areas where assumptions or estimates were significant to the financial statements are disclosed in note 22. 

## **b) Exemption from consolidation** 

Consolidated financial statements have not been prepared because the figures for the group, incorporating Treloar Enterprises Limited, the Trust’s only subsidiary, would not be materially different to those of the Trust as a single entity. The Trustees have included in note 9 to these accounts the results of Treloar Enterprises Limited for its accounting year to 31 August 2022. The accounts therefore show the results, cash flows, assets and liabilities of the Trust itself rather than the group as a whole. 

## **c) Fee income** 

All income is accounted for in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Where income is received in advance of providing services, it is deferred until the Trust becomes entitled to that income. 

Fee income from charitable activities is split between teaching, medical and care based on breakdowns of each area provided to purchasers. 

## **d) Fundraising income including events and lottery** 

i) Donations, event and lottery income are recognised when received or when the Trust is entitled to the income and receipt is probable and measurable. Where income tax is reclaimable such income is included at the gross amount. ii) Legacies are recognised when received or when the legacy has become accurately quantifiable and has been notified to the Trust as receivable. 

iii) Gifts in kind (representing donations of equipment or vehicles) in excess of £250 are treated as income. The value of such donations is the fair value of the gift, usually the cost to the donor. 

## **e) Grant income** 

Grant income is credited to the Statement of Financial Activities on an accruals basis where applicable. 

## **f) Investment income** 

Investment income is credited to the Statement of Financial Activities on an accruals basis and is inclusive of the income tax recoverable, where applicable. 

25 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1 ACCOUNTING POLICIES** _**(Continued)**_ 

## **g) Rental income** 

Rental income is accounted for in the period for which the rent has been charged. 

## **h) Expenditure** 

Revenue and capital expenditure is recognised on an accruals basis inclusive of irrecoverable VAT, where applicable. The Trust directly attributes expenditure in so far as is possible between teaching, medical and care. 

Support costs are those which provide indirect support to the Trust and School and College e.g. finance, 

## **i) Operating leases** 

Rentals payable are charged on a time basis over the term of the lease. 

## **j) Tangible fixed assets** 

The cost of tangible fixed assets includes those costs which are directly attributable to purchasing the assets and bringing them into working condition. The Trust does not capitalise interest as part of the cost of tangible fixed assets. The Trust capitalises refurbishment costs and any associated capital expenditure where such work extends the economic useful life of the building or provides new facilities. Normal repairs and maintenance costs are expensed as incurred. 

The Trust’s capitalisation policy is to transfer to the balance sheet only capital assets with a cost in excess of £5,000. 

Depreciation is provided at the following rates to write off the cost of the Trust’s fixed assets over their estimated useful economic lives: - 

Freehold buildings for use by School and College 

Transport and motor vehicles 

Buildings are depreciated on a straight-line basis over forty years from date of first use. 

Transport and motor vehicles are depreciated on a straight-line basis between four and seven years from date of acquisition. 

Furniture, fixtures and equipment Furniture, fixtures and equipment are depreciated on a straight-line basis between three and ten years from date of acquisition. 

Computer equipment 

Computers and other IT equipment are depreciated on a straight-line basis between two and four years from date of acquisition. 

Assets under construction 

Costs incurred on assets not completed as at the 

## **k) Investment assets** 

Freehold investment property 

Freehold investment property is reflected at market value where this is deemed materially different from cost at the balance sheet date. 

Listed investments Listed investments are reflected at market value at the balance sheet date. 

Unlisted investments Unlisted investments are reflected in the balance sheet at cost less provision for any permanent diminution in value or impairment. 

Both realised and unrealised profits and losses on investments are reflected in the Statement of Financial Activities. 

26 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1 ACCOUNTING POLICIES** _**(Continued)**_ 

## **l) Stocks** 

Stocks are stated at the lower of cost and net realisable value. Allowance is therefore made for damaged and obsolete goods. 

## **m) Pensions** 

The Trust operates Defined Contribution Pension Schemes for which contributions are charged to the Statement of Financial Activities as they are incurred. 

The Trust also contributes to the Teachers Pension Scheme (England and Wales) at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The scheme is a multi employer scheme and as such it is not possible to identify the assets and liabilities which are attributable to the Trust. Therefore, in accordance with FRS 102, the scheme is accounted for as a defined contribution scheme. 

The Trust also operates a Defined Benefit Pension Scheme, which was closed to future service accrual on 31 December 2007. The contributions are paid at rates agreed with the Scheme Actuary and, together with actuarial gains and losses, are charged to the Statement of Financial Activities. 

## **n) Reserve funds** 

The policy of the Trustees is to maintain in a designated fund, such sums as they deem prudent for the future refurbishment and development of those assets used for the primary purpose of the Trust. 

The Trustees have also established a general reserve to provide working capital to create a buffer in case there is a sudden reduction in student numbers and to allow for fluctuations in investment returns. The Trustees’ policy is to seek to retain a buffer equal to at least four months of normal operating expenditure. 

The Trustees have also established a Property and Equipment Fund for Assets tied up in the campus at Holybourne and thus not readily realisable. 

A pension reserve is included within unrestricted funds to reflect the pension deficit on the Defined Benefit Pension Scheme. 

Restricted funds are donated for a particular purpose, the use of which is restricted for that purpose. Endowment funds are held as capital funds from which the income generated may be spent on the specific purposes provided upon the creation of the endowed fund. 

## **o) Cash and cash equivalents** 

The policy for the management of cash and cash equivalents is defined by the financial commitments of the Trust. The Trust aims to keep funds on deposit until such time as they are needed to pay for designated projects, as highlighted within the notes to the accounts. Cash held on deposit with a maturity of three months or less are considered as cash equivalents. 

## **p) Provisions** 

A provision is made in the accounts where the Trust has a legal or constructive financial obligation, that can be reliably estimated, and for which there is an expectation that payment will be made. 

## **q) Financial instruments** 

The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade debtors, prepayments, creditors and provisions are initially recognised at transaction value and subsequently measured at their settlement value. 

27 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **2 DONATIONS, LEGACIES, GRANTS AND OTHER FUNDRAISING INCOME** 

|Gifts and legacies<br>Unrestricted<br>Restricted<br>Grants - Coronavirus Job Retention Scheme<br>Total<br>Events<br>Lottery<br>Total|**2022**<br>**2021**<br>**Direct**<br>**Support**<br>**Direct**<br>**Support**<br>**Income Expenditure**<br>**Costs**<br>**Income**<br>**Expenditure**<br>**Costs**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**469**<br>509<br>**1,003**<br>694<br>**-**<br>18|
|---|---|
||**1,472**<br>**433**<br>**83**<br>1,221<br>379<br>78<br>**94**<br>**48**<br>**9**<br>79<br>34<br>7<br>**202**<br>**93**<br>**18**<br>208<br>92<br>19|
||**1,768**<br>**574**<br>**110**<br>1,508<br>505<br>104|



## **3 RENT** 

|Lettings income<br>Estate rents and wayleaves|**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**80**<br>80<br>**220**<br>268|
|---|---|
||**300**<br>348|



All items relate to unrestricted activities. 

## **4 INVESTMENT INCOME** 

|Income from trading subsidiary<br>Income from listed investments<br>Interest receivable|**Unrestricted**<br>**Restricted**<br>**Total Unrestricted**<br>**Restricted**<br>**Total**<br>**Funds**<br>**Funds**<br>**2022**<br>**Funds**<br>**Funds**<br>**2021**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**78**<br>**-**<br>**78**<br>21<br>-<br>21<br>**188**<br>**-**<br>**188**<br>81<br>-<br>81<br>**1**<br>**-**<br>**1**<br>1<br>-<br>1|
|---|---|
||**267**<br>**-**<br>**267**<br>103<br>-<br>103|



28 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **5 EXPENDITURE** 

|**EXPENDITURE**||
|---|---|
|**Raising funds**<br>**Charitable activities**<br>Teaching<br>Medical<br>Care<br>**Total charitable activities**<br>**TOTAL EXPENDITURE**|**Staf**<br>**Other**<br>**Support**<br>**Total**<br>**Staf**<br>**Other**<br>**Support**<br>**Total**<br>**Costs**<br>**Costs**<br>**Costs**<br>**2022**<br>**Costs**<br>**Costs**<br>**Costs**<br>**2021**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**349**<br>**225**<br>**110**<br>**684**<br>**341**<br>**164**<br>**104**<br>**609**<br>**5,122**<br>**451**<br>**2,552**<br>**8,125**<br>5,578<br>359<br>2,407<br>**8,344**<br>**3,757**<br>**166**<br>**1,269**<br>**5,192**<br>3,639<br>604<br>1,197<br>**5,440**<br>**7,428**<br>**221**<br>**4,360**<br>**12,009**<br>7,393<br>269<br>4,112<br>**11,774**<br>**Direct**<br>**Direct**|
||**16,307**<br>**838**<br>**8,182**<br>**25,327**<br>**16,610**<br>**1,232**<br>**7,716**<br>**25,558**|
||**16,656**<br>**1,063**<br>**8,292**<br>**26,011**<br>**16,951**<br>**1,396**<br>**7,820**<br>**26,167**|



The support costs can be analysed as follows; 

|Facilities<br>Depreciation<br>Finance and Payroll<br>HR and Training<br>IT<br>Transport<br>Governance<br>Misc|**_Raising_**<br>**_Funds_**<br>**_Teaching_**<br>**_Medical_**<br>**_Care_**<br>**_Total_**<br>**Raising**<br>**Funds**<br>**Teaching**<br>**Medical**<br>**Care**<br>**Total**<br>**_£000s_**<br>**_£000s_**<br>**_£000s_**<br>**_£000s_**<br>**_£000s_**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**38**<br>**885**<br>**440**<br>**1,512**<br>**2,876**<br>38<br>878<br>436<br>1,499<br>2,851<br>**18**<br>**407**<br>**202**<br>**695**<br>**1,322**<br>17<br>393<br>195<br>671<br>1,276<br>**6**<br>**130**<br>**65**<br>**223**<br>**424**<br>5<br>118<br>59<br>201<br>383<br>**12**<br>**282**<br>**140**<br>**481**<br>**915**<br>11<br>258<br>128<br>441<br>838<br>**10**<br>**230**<br>**114**<br>**392**<br>**746**<br>9<br>206<br>102<br>351<br>668<br>**3**<br>**73**<br>**36**<br>**125**<br>**237**<br>3<br>65<br>32<br>111<br>212<br>**16**<br>**367**<br>**182**<br>**626**<br>**1,191**<br>13<br>299<br>149<br>511<br>971<br>**8**<br>**179**<br>**89**<br>**306**<br>**582**<br>8<br>191<br>95<br>327<br>621<br>**2021**<br>**2022**|
|---|---|
||**110**<br>**2,552**<br>**1,269**<br>**4,360**<br>**8,292**<br>104<br>2,407<br>1,197<br>4,112<br>7,820|



All support costs are divided between the four main headings using the full time equivalent staff numbers employed within those four sections each year. 

Included in the above figure is insurance at a cost of £6,306 (2021: £6,238) which was taken out over the year to cover Trustees, Governors and Officers of the Trust against legal liability arising from acts of neglect, error or omission. 

|Total auditor's remuneration is made up as follows:<br>Audit (for the Charity, School and College)<br>Other services|**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**52**<br>57<br>**4**<br>4|
|---|---|
||**56**<br>61|



## **6 STAFF COSTS AND TRUSTEE EXPENSES** 

|**STAFF COSTS AND TRUSTEE EXPENSES**||
|---|---|
|**Total staf costs for the year were as follows:**<br>Wages and salaries<br>Termination payments<br>Employer's NIC<br>Employer's pension costs|**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**16,950**<br>17,380<br>**30**<br>10<br>**1,363**<br>1,317<br>**1,855**<br>1,787|
||**20,198**<br>20,494|



Not included in the above are benefits in kind amounting to £8,259 (2021: £8,873), which were received by staff during the year. Termination payments are in the form of a redundancy payment made on the reorganisation of one department during the year. 

|Employer's pension costs comprise the following:<br>Teachers pension scheme (Note 15)<br>Employer contribution to Treloar group personal pension scheme (Note 15)<br>Defined benefit pension scheme<br>Expected interest cost less expected return (Note 15)|**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**381**<br>505<br>**1,086**<br>835<br>**387**<br>447|
|---|---|
||**1,854**<br>1,787|



29 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **6 STAFF COSTS AND TRUSTEE EXPENSES** _**(continued)**_ 

The average number of paid persons employed by the Trust during the year was as follows: 

|Teaching<br>Medical<br>Care (inc catering)<br>Facilities and ancillary<br>Fundraising<br>Marketing<br>Outreach projects<br>Total average employees by headcount.<br>The following numbers of staf received remuneration in excess of £60,000 in the year:<br>£60,001 to £70,000<br>£70,001 to £80,000<br>£80,001 to £90,000<br>£110,001 to £120,000<br>£120,001 to £130,000<br>£150,001 to £160,000<br>£160,001 to £170,000|**Full Time Equivalents**<br>**2022**<br>**2021**<br>**162**<br>185<br>**90**<br>92<br>**287**<br>316<br>**78**<br>82<br>**8**<br>8<br>**2**<br>1<br>-<br>1|
|---|---|
||**627**<br>685|
||**832**<br>876|
||**2022**<br>**2021**<br>-<br>3<br>1<br>-<br>3<br>-<br>1<br>1<br>-<br>-<br>1<br>-<br>1<br>1|



The total amount of employee benefits received by key management personnel for their services during the year is £446,544 (2021: £432,455). Key management is deemed to be the CEO, Principal and FD. 

Four of the above members of staff accrued benefits under the Treloar group personal pension scheme and £44,864 (2021: £44,653 - four) was paid by the Trust to the scheme in respect of these members. 

The Trustees received no remuneration for their services as Trustees during the period (2021: Nil). Two Trustees were reimbursed £374 during the period for travel and other costs incurred in connection with the work of the charity (2021: one trustee - £174). 

## **7 GAINS AND LOSSES ON INVESTMENTS** 

|**GAINS AND LOSSES ON INVESTMENTS**|**GAINS AND LOSSES ON INVESTMENTS**||||||
|---|---|---|---|---|---|---|
|**Unrestricted**||**Endowed**|**Total**|**Unrestricted**|**Endowed**|**Total**|
||**Funds**|**Funds**|**2022**|**Funds**|**Funds**|**2021**|
||**£000s**|**£000s**|**£000s**|**£000s**|**£000s**|**£000s**|
|Listed investments|**200**|**28**|**228**|908|59|967|
|Unrealised gains on investment property|**7**|**-**|**7**|46|-|46|
|Unrealised (loss)/gain on listed investments|**(130)**|**(58)**|**(188)**|143|83|226|
||**77**|**(30)**|**47**|1,097|142|1,239|



30 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **8 TANGIBLE FIXED ASSETS** 

|**Cost**<br>Freehold land and buildings<br>Plant, machinery and motor vehicles<br>Assets under construction<br>**Depreciation**<br>Freehold land and buildings<br>Plant, machinery and motor vehicles<br>Assets under construction<br>**Net Book Value**<br>Freehold land and buildings<br>Plant, machinery and motor vehicles<br>Assets under construction|**Opening**<br>**Additions/**<br>**Disposals**<br>**Closing**<br>**Balance**<br>**Transfers**<br>**Balance**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**35,701**<br>**468**<br>**-**<br>**36,169**<br>**5,127**<br>**289**<br>**-**<br>**5,416**<br>**841**<br>**3,200**<br>**-**<br>**4,041**|
|---|---|
||**41,669**<br>**3,957**<br>**-**<br>**45,626**|
||**Opening**<br>**Charge for**<br>**Released on**<br>**Closing**<br>**Balance**<br>**Year**<br>**Disposal**<br>**Balance**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**(13,014)**<br>**(957)**<br>**-**<br>**(13,971)**<br>**(3,835)**<br>**(364)**<br>**-**<br>**(4,199)**<br>**-**<br>**-**<br>**-**<br>**-**|
||**(16,849)**<br>**(1,321)**<br>**-**<br>**(18,170)**|
||**Opening**<br>**Additions**<br>**Disposals**<br>**Closing**<br>**Balance**<br>**less charges**<br>**Balance**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**22,687**<br>**(489)**<br>**-**<br>**22,198**<br>**1,292**<br>**(75)**<br>**-**<br>**1,217**<br>**841**<br>**3,200**<br>**-**<br>**4,041**|
||**24,820**<br>**2,636**<br>**-**<br>**27,456**|



Additions/Transfers include £194,000 transferred from Assets under construction to Land and Buildings following completion of projects during the year. 

## **9 INVESTMENTS** 

## **Fixed asset investments** 

|Listed investments - UK<br>Listed investments - non-UK<br>Investment properties<br>Subsidiaries and associated undertakings<br>Unlisted investments<br>Bank deposits|**Total**<br>**Total**<br>**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**3,556**<br>3,804<br>**6,097**<br>5,553<br>**623**<br>616<br>**25**<br>25<br>**19**<br>19<br>**277**<br>380|
|---|---|
||**10,597**<br>10,397|



31 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **9 INVESTMENTS** _**(continued)**_ 

## **Current asset investments** 

|**Current asset investments**||
|---|---|
|UK Investments - Deposits<br>**Listed investments**<br>Market value of assets as at 1 September<br>Additions<br>Disposal proceeds<br>Net unrealised investment (losses)/gains<br>Net realised investment gains<br>Market value of assets as at 31 August<br>Historical cost as at 31 August<br>**Investment Properties (all UK)**<br>Valuation at 1 September<br>Revaluation<br>Valuation at 31 August<br>Historical cost as at 31 August|**Total**<br>**Total**<br>**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**24**<br>24|
||**Total**<br>**Total**<br>**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**9,357**<br>7,181<br>**4,480**<br>7,242<br>**(4,224)**<br>(6,257)<br>**(188)**<br>225<br>**228**<br>966|
||**9,653**<br>9,357|
||**9,058**<br>8,575|
||**Total**<br>**Total**<br>**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**616**<br>570<br>**7**<br>46|
||**623**<br>616|
||**126**<br>126|



The Trustees have revalued Howards Farm at £480,526, based on the long term yield value of the property. The Trustees have revalued The Vale, Shirley at £142,500, based on the long term yield value of the property. All valuations will be continuously monitored to ensure material market valuations are reflected in the balance sheet. 

|**Unlisted investments**<br>Cost and valuation at 31 August|**Total**<br>**Total**<br>**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**19**<br>19|
|---|---|



The Trustees consider that the market value of the above investments is not significantly different from their cost. 

32 



## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2022** 

## **9 INVESTMENTS** _**(continued)**_ 

## **Trading Subsidiary** 

The Trust owns all the issued share capital of Treloar Enterprises Limited, which shares its Registered Office with the Trust. Its principal activities are the lettings of facilities and the retail presence of the Trust both physically and on line. 

The trading subsidiary gift aids its profit to the Trust. Its trading results for the year ended 31st August were: 

|Turnover<br>Cost of sales<br>Gross profit<br>Administration expenses<br>Profit on ordinary activities before taxation and interest<br>Taxation<br>Profit on ordinary activities after taxation<br>Gift aided payment - qualifying charitable donation<br>Retained profit for the year<br>Retained profit brought forward<br>Retained profit carried forward<br>Net assets (all equity interests)<br> **DEBTORS**<br>Fees billed in advance<br>Trade debtors<br>Other debtors<br>Prepayments<br>Amounts due from group undertaking|**Total**<br>**Total**<br>**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**213**<br>156<br>**(133)**<br>(128)|
|---|---|
||**80**<br>28<br>**(7)**<br>(7)|
||**73**<br>21<br>**-**<br>-|
||**73**<br>21<br>**(73)**<br>(21)|
||**-**<br>-<br>**3**<br>3|
||**3**<br>3|
||**28**<br>28|
||**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**6,283**<br>5,812<br>**81**<br>880<br>**59**<br>91<br>**522**<br>437<br>**-**<br>9|
||**6,945**<br>7,229|



## **10 DEBTORS** 

All amounts shown under debtors are due for payment within one year. 

## **11 CREDITORS: Amounts falling due within one year** 

|Trade creditors<br>Income in advance<br>Taxes & social security costs<br>Other creditors<br>Accruals<br>Amounts due to group undertaking<br>Bank loans and overdrafts|**2022**<br>**2021**<br>**£000s**<br>**£000s**<br>**1,133**<br>470<br>**7,219**<br>6,529<br>**410**<br>424<br>**116**<br>64<br>**458**<br>546<br>**3**<br>-<br>**56**<br>-|
|---|---|
||**9,395**<br>8,033|



The bank loan is for £1million taken out during the year to assist with the development of the Key Worker Accomodation. It is repayable within five years of the balance sheet date and is secured on part of the site. 

33 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **12 PROVISIONS** 

|At 1 September 2021<br>(Decreases)/Increases in provision<br>At 31 August 2022<br>Amounts are expected to be incurred;<br>- within one year|**Fees**<br>**Other**<br>**Total**<br>**£000's**<br>**£000's**<br>**£000's**<br>**463**<br>**331**<br>**794**<br>**(12)**<br>**86**<br>**74**|
|---|---|
||**451**<br>**417**<br>**868**|
||**451**<br>**417**<br>**868**|



Provisions include trade debtors, provision for untaken holiday, sickness provision and for employment disputes and where, due to extenuating circumstances, queries may be raised over services provided. 

## **13 RESTRICTED & ENDOWED FUNDS** 

|**Endowed Funds**<br>Billesden Fund<br>Rossington Bursary Fund<br>**Total Endowed funds**<br>**Specifc appeals fund**<br>Specific equipment appeals<br>Specific building appeals<br>Total specific appeals fund<br>**Other restricted funds**<br>Billesden fund<br>Campbell sports fund<br>IMPact<br>Assistive technology<br>Transition<br>Motor Vehicles<br>Pushing the boundaries<br>Dietician<br>AAC, AT, Physio and other Equipment<br>Outdoor learning<br>Outdoor Learning Centre<br>Key Worker Accommodation<br>FT Hall<br>PPE<br>Rossington restricted legacy<br>Acoustic Monitoring<br>Other<br>**Total Restricted Funds**|**Balance**<br>**Transfers**<br>**Gains on**<br>**Balance**<br>**31-Aug-20**<br>**Income**<br>**Expenditure**<br>**in/(out)**<br>**Investments 31-Aug-21**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>587<br>-<br>-<br>-<br>65<br>652<br>935<br>-<br>-<br>-<br>77<br>1,012|
|---|---|
||**1,522**<br>**-**<br>**-**<br>**-**<br>**142**<br>**1,664**|
||526<br>-<br>(113)<br>143<br>-<br>556<br>8,011<br>-<br>(303)<br>248<br>-<br>7,956|
||8,537<br>-<br>(416)<br>391<br>-<br>8,512|
||19<br>21<br>(20)<br>-<br>-<br>20<br>31<br>9<br>(8)<br>-<br>-<br>32<br>20<br>42<br>(9)<br>-<br>-<br>53<br>-<br>26<br>(26)<br>-<br>-<br>-<br>-<br>85<br>(85)<br>-<br>-<br>-<br>137<br>-<br>-<br>-<br>-<br>137<br>14<br>-<br>-<br>-<br>-<br>14<br>-<br>25<br>(25)<br>-<br>-<br>-<br>99<br>83<br>(15)<br>(20)<br>-<br>147<br>26<br>19<br>(1)<br>(28)<br>-<br>16<br>349<br>99<br>-<br>(248)<br>-<br>200<br>103<br>22<br>-<br>-<br>-<br>125<br>-<br>141<br>-<br>-<br>-<br>141<br>-<br>42<br>(42)<br>-<br>-<br>-<br>9<br>10<br>-<br>-<br>-<br>19<br>95<br>-<br>-<br>(95)<br>-<br>-<br>151<br>69<br>(40)<br>-<br>-<br>180|
||1,053<br>693<br>(271)<br>(391)<br>-<br>1,084|
||**9,590**<br>**693**<br>**(687)**<br>**-**<br>**-**<br>**9,596**|



34 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **13 RESTRICTED & ENDOWED FUNDS** 

|**Endowed Funds**<br>Billesden Fund<br>Rossington Bursary Fund<br>**Total Endowed funds**<br>**Specific appeals fund**<br>Specific equipment appeals<br>Specific building appeals<br>Total specific appeals fund<br>**Other restricted funds**<br>Billesden fund<br>Campbell sports fund<br>IMPact<br>Assistive technology<br>Transi�on<br>Motor Vehicles<br>Pushing the boundaries<br>Dietician<br>AAC, AT, Physio and other Equipment<br>Outdoor learning<br>Outdoor Learning Centre<br>Key Worker Accomoda�on<br>FT Hall<br>Rossington restricted legacy<br>Swimming Pool<br>Learner Tech salary<br>Baths<br>Other<br>**Total Restricted Funds**|**Balance**<br>**Transfers**<br>**Gains/(losses)**<br>**Balance**<br>**31-Aug-21**<br>**Income**<br>**Expenditure**<br>**in/(out)**<br>**on Investments**<br>**31-Aug-22**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**652**<br>**-**<br>**-**<br>**-**<br>**38**<br>**690**<br>**1,012**<br>**-**<br>**-**<br>**-**<br>**(68)**<br>**944**|
|---|---|
||**1,664**<br>**-**<br>**-**<br>**-**<br>**(30)**<br>**1,634**|
||**556**<br>**-**<br>**(126)**<br>**124**<br>**-**<br>**554**<br>**7,956**<br>**-**<br>**(318)**<br>**157**<br>**-**<br>**7,795**|
||**8,512**<br>**-**<br>**(444)**<br>**281**<br>**-**<br>**8,349**|
||**20**<br>**8**<br>**(19)**<br>**-**<br>-<br>**9**<br>**32**<br>**12**<br>**(15)**<br>**-**<br>-<br>**29**<br>**53**<br>**25**<br>**(16)**<br>**-**<br>-<br>**62**<br>**-**<br>**15**<br>**(15)**<br>**-**<br>-<br>**-**<br>**-**<br>**60**<br>**(60)**<br>**-**<br>-<br>**-**<br>**137**<br>**188**<br>**-**<br>**(106)**<br>-<br>**219**<br>**14**<br>**-**<br>**(14)**<br>**-**<br>-<br>**-**<br>**-**<br>**25**<br>**(25)**<br>**-**<br>-<br>**-**<br>**147**<br>**60**<br>**(10)**<br>**-**<br>-<br>**197**<br>**16**<br>**5**<br>**(3)**<br>**-**<br>-<br>**18**<br>**200**<br>**186**<br>**-**<br>**-**<br>-<br>**386**<br>**125**<br>**-**<br>**-**<br>**-**<br>-<br>**125**<br>**141**<br>**16**<br>**-**<br>**(157)**<br>-<br>**-**<br>**19**<br>**38**<br>**-**<br>**-**<br>-<br>**57**<br>**-**<br>**279**<br>**-**<br>**-**<br>-<br>**279**<br>**-**<br>**40**<br>**(40)**<br>**-**<br>-<br>**-**<br>**-**<br>**18**<br>**-**<br>**(18)**<br>-<br>**-**<br>**180**<br>**28**<br>**(36)**<br>**-**<br>-<br>**172**|
||**1,084**<br>**1,003**<br>**(253)**<br>**(281)**<br>**-**<br>**1,553**|
||**9,596**<br>**1,003**<br>**(697)**<br>**-**<br>**-**<br>**9,902**|



## **ENDOWED FUNDS** 

Where donations are received and are to be invested in a fund and the use of that fund is restricted to the income generated from it, a permanent endowment is created and disclosed as such. 

**The Billesden fund** – was established in 1984 by the Merchant Taylors’ and Skinners’ Companies to provide assistance with the aftercare and vocational training of students, includes the Billesden officer post which is a research post which provides data on Treloar leavers in order to inform the priorities and direction of the transition strategy. 

35 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **13 RESTRICTED & ENDOWED FUNDS** _**(continued)**_ 

**Rossington Bursary Fund** - this was created from a legacy which states that the income from the investment of the fund shall be used to provide access to education for an 'older' age group of young disabled students who are socially disadvantaged. 

## **RESTRICTED FUNDS** 

Where donations are received for particular items of expenditure, such amounts are credited to the Trust’s restricted funds. If an operational area of the Trust discharges such expenditure out of its unrestricted funds, the amount is transferred out of the restricted funds to reimburse the expenditure. Other expenditure is paid directly out of the restricted funds. 

**Specific appeals fund** – capital funds from appeals for new buildings and specific equipment including the Vision Treloar's buildings, Brewer House hall of residence, Evans House hall of residence, minibus, Treloar’s Direct assets and other special equipment. 

**The Billesden fund** – income from the endowment above and donations from the Merchant Taylors’ and Skinners’ Companies is used to provide assistance with the aftercare and vocational training of students, including the Billesden officer post which is a research post which provides data on Treloar leavers in order to inform the priorities and direction of the transition strategy. 

**Campbell sports fund** – enables students to participate in sailing and other sporting activities. 

**The Independent Mobility Project (IMPact)** - provides the most appropriate wheelchair for every student in need at the College and the School, to give them optimum independence. 

**Assistive Technology fund** – supports assistive technology work carried out in the Trust. 

**Transition** – providing support to students to prepare them for the transition from Treloar's back into the community, supporting independence and helping them realise their full potential. 

**Motor Vehicles** - funds raised for the acquisition of new coach and minibus in 2017/18 and for new adapted vehicles in 2018/19. 

**Pushing the boundaries –** has been established to raise funds to allow students to experience activities not normally associated as being available to people with disabilities such as abseiling and rock climbing. 

**Dietician** – supports the work of an on site dietician. 

**AAC, Assistive technology and physio equipment** - support the equipment purchases of the speech & language therapists (alternative & augmentative communications equipment), the physiotherapists and the assistive technology engineers respectively. 

**Outdoor learning** – enriching the outdoor areas of our campus to provide an interactive learning environment for our students. 

**Outdoor Learning Centre -** set up to raise funds for the new Centre to be built on campus to expand provision for students and external visitors. 

**Key Worker Accommodation -** set up to raise funds to build new staff living quarters on site. 

**FT Hall** - funds raised for the renovation of the Florence Treloar Hall. 

**Swimming Pool** - funds raised in order to refurbish the site's swimming facilities. 

**Rossington Income Fund -** income from the endowment above to be used to provide access to education for an 'older' age group of young disabled students who are socially disadvantaged. 

**Baths -** funds rasied for the purchase of new Parker baths for the houses as updating is needed regularly. 

**Learner Tech salary -** funds raised to cover the salary of the learner technology department to help students in class with their IT needs. 

36 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **14 ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Tangible fxed assets<br>Investments<br>Net current assets<br>**Total assets less current liabilities**<br>Creditors due over one year<br>Provisions<br>Pension scheme liability<br>**TOTAL NET ASSETS**<br>Tangible fxed assets<br>Investments<br>Net current assets<br>**Total assets less current liabilities**<br>Provisions<br>Pension scheme liability<br>**TOTAL NET ASSETS**|**Unrestricted**<br>**Restricted**<br>**Endowed**<br>**Total**<br>**Funds**<br>**Funds**<br>**Funds**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**19,107**<br>**8,349**<br>**-**<br>**27,456**<br>**8,963**<br>**-**<br>**1,634**<br>**10,597**<br>**(968)**<br>**1,553**<br>**-**<br>**585**<br>**2022**|
|---|---|
||**27,102**<br>**9,902**<br>**1,634**<br>**38,638**<br>**(944)**<br>**-**<br>**-**<br>**(944)**<br>**(868)**<br>**-**<br>**-**<br>**(868)**<br>**(6,409)**<br>**-**<br>**-**<br>**(6,409)**|
||**18,881**<br>**9,902**<br>**1,634**<br>**30,417**|
||**Unrestricted**<br>**Restricted**<br>**Endowed**<br>**Total**<br>**Funds**<br>**Funds**<br>**Funds**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>16,308<br>8,512<br>-<br>24,820<br>8,733<br>-<br>1,664<br>10,397<br>1,534<br>1,084<br>-<br>2,618<br>**2021**|
||26,575<br>9,596<br>1,664<br>37,835<br>(794)<br>-<br>-<br>(794)<br>(10,338)<br>-<br>-<br>(10,338)|
||15,443<br>9,596<br>1,664<br>26,703|



## **15 PENSIONS** 

The total pension cost charged to the Statement of Financial Activities for the Year, excluding the movement on actuarial gains and losses, for all the schemes was £1,854,995 (2021: £1,745,434). 

## **Teachers Pension Scheme (England and Wales)** 

Under the definitions set out in Financial Reporting Standard 102, the Teacher's Pension Scheme (TPS) is a multi-employer pension scheme. As the TPS is underwritten by central government and the Trust has no future obligation to make contributions to the scheme, this is effectively a defined contribution scheme in so far as it affects the Trust. Contributions by the Trust during the period totalled £381,388 (2021: £505,203). 

As at 31 August 2022 contributions were being made into the scheme on behalf of 60 (2021: 47) members of staff. The last actuarial valuation dated March 2018 showed that the Teachers Pension Scheme (England and Wales) is in deficit. Under current accounting regulations there is no requirement for any employer to account for its share of the deficit. 

## **Treloar Group Personal Pension Scheme** 

The Trust operates a defined contribution scheme to provide retirement benefits for its employees who are not members of the Teachers Superannuation Scheme. Because the Trust makes contributions of at least 1.5% of participating salaries to the Group Personal Pension Scheme, it does not have to offer a Stakeholder Plan. Contributions by the Trust during the period totalled £1,086,607 (2021: £835,231). 

At 31 August 2022 contributions were being made into the Scheme on behalf of 808 (2021: 821) members of staff. 

37 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **15 PENSIONS (** _**continued**_ **)** 

## **Treloar Defined Benefit Pension Scheme** 

Treloar Trust (the Trust) operates the Federated Pension Scheme for Treloar Trust (the scheme), a UK registered trust based pension scheme that provides defined benefits. Pension benefits are linked to the members' final pensionable salaries and service at their retirement (or date of leaving if earlier). The Pension Scheme Trustee is responsible for running the Scheme in accordance with the Scheme's Trust Deed and Rules, which sets out their powers. The Pension Scheme Trustee is required to act in the best interests of the beneficiaries of the Scheme. There are two categories of pension scheme members: deferred members; current and former employees of the Trust who are not yet in receipt of pension, and Pensioner members: in receipt of pension (some of whom are insured with Aviva and LV). 

The Pension Scheme Trustee is required to carry out an actuarial valuation every 3 years, The actuarial valuation of the Scheme was performed by the Scheme Actuary for the Pension Scheme Trustees as at 31 March 2021. This valuation revealed a funding shortfall of £12.1 million. In respect of the deficit in the Scheme as at 31 March 2021, the Trust has agreed to pay £569,554 per annum payable monthly from 1 March 2022 until 30 June 2022, then £804,000 per annum payable in equal monthly instalments for a period of 16 years 2 months from 1 July 2022. The contribution will increase at 2.7%pa at each 1 July with the first increase due on 1 July 2022. The Trust therefore expects to pay £807,618 to the Scheme during the accounting year beginning 1 September 2022. 

## **Principal assumptions** 

||**31-Aug-22**|**31-Aug-21**|
|---|---|---|
||**% pa**|**% pa**|
|Discount rate|**4.2**|1.6|
|Retail Prices Index (RPI) Inflation|**3.5**|3.3|
|Consumer Prices Index (CPI) Inflation|**2.8**|2.6|
|Rate of increase to pensions in payment:|||
|Pre 88 GMP|**0.0%**|0.0%|
|Post 88 GMP|**2.3%**|2.3%|
|Pre 97 XS|**0.0%**|0.0%|
|97-06 pension|**3.4%**|3.2%|
|Post 06 pension|**2.3%**|2.3%|
|Revaluation of deferred pensions in excess of GMP|**2.8%**|2.6%|
|Underpin to revaluation of scale pension (including GMP)|**3.0%**|3.0%|



Retirement age and application of retirement factor adjustment 

## **Assume retire at 60 with retirement factor adjustment applied for members still in service and under age 60 on 1 October 2007** 

||**100%**|100%|
|---|---|---|
||**S3PMA_Middle/100%**|S3PMA_Middle/100%|
||**S3PFA_Middle CMI**|S3PFA_Middle CMI|
|Mortality before and after retirement|**2021 [1.25%]**|2020 [1.25%]|
|Life expectancy of male aged 60 at balance sheet date|**85.9**|85.8|
|Life expectancy of male aged 60 in 20 years from balance sheet date|**87.4**|87.4|
|Life expectancy of female aged 60 at balance sheet date|**88.6**|88.5|
|Life expectancy of female aged 60 in 20 years from balance sheet date|**90.1**|90.1|



For the avoidance of doubt the above assumptions are in absolute terms. 

38 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **15 PENSIONS (** _**continued**_ **)** 

## **Asset breakdown** 

The fair value of the assets of the Scheme was: 

|M&G Total Return Credit Fund<br>Baillie Giford Multi Asset Growth Fund<br>BNY Mellon Sustainable Global Dynamic Bond Fund<br>Partners Fund<br>LGIM Future World Fund<br>LGIM Future World Fund - GBP Hedged<br>LGIM Matching Core Fix Short<br>LGIM Matching Core Fix Long<br>LGIM Matching Core Real Short<br>LGIM Matching Core Real Long<br>LGIM Future World Multi Asset<br>Annuities<br>Trustee bank account/NCA<br>**Net defned beneft asset (liability)**<br>Fair value of Scheme assets<br>Present value of defned beneft obligation<br>**Defned beneft (liability) recognised in the balance sheet**<br>Total expense recognised in Statement of Financial Activities<br>Administration expenses<br>Past Service Cost<br>Net interest on the net defned beneft liability<br>Total recognised in the Statement of Financial Activities<br>**Total amounts taken to Other Comprehensive Income**<br>Actuarial (loss)/return on scheme assets less interest<br>Remeasurement gains/(losses) - actuarial gains/(losses)<br>**Amount recognised in Other Comprehensive Income**<br>**The return on assets was:**<br>Interest income<br>Return on assets less interest income<br>**Total return on assets**<br>**Total**|**31-Aug-22**<br>**£000's**<br>**2,153**<br>**2,098**<br>**3,464**<br>**3,923**<br>**3,890**<br>**1,787**<br>**1,755**<br>**479**<br>**1,022**<br>**1,076**<br>**2,589**<br>**1,006**<br>**203**<br>**25,445**<br>**31-Aug-22**<br>**£000s**<br>**25,445**<br>**(31,854)**<br>**(6,409)**<br>**31-Aug-22**<br>**£000s**<br>**225**<br>**-**<br>**162**<br>**387**<br>**31-Aug-22**<br>**£000s**<br>**(8,857)**<br>**12,564**<br>**3,707**<br>**31-Aug-22**<br>**£000s**<br>**549**<br>**(8,857)**<br>**(8,308)**|**31-Aug-21**<br>**£000's**<br>2,264<br>4,989<br>3,691<br>3,745<br>4,288<br>2,582<br>4,206<br>1,244<br>1,799<br>1,857<br>2,830<br>1,266<br>117|
|---|---|---|
|||**34,878**|
|||**31-Aug-21**<br>**£000s**<br>34,878<br>(45,216)|
|||**(10,338)**|
|||**31-Aug-21**<br>**£000s**<br>248<br>11<br>188|
|||447|
|||**31-Aug-21**<br>**£000s**<br>2,877<br>(609)|
|||2,268|
|||**31-Aug-21**<br>**£000s**<br>481<br>2,877|
|||3,358|



39 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **15 PENSIONS (** _**continued**_ **)** 

## **Reconciliation to the Statement of Financial Position** 

|Market value of assets<br>Present value of defned beneft obligation<br>**Pension (liability) recognised in the Financial Statements**<br>**Changes in the present value of the defned beneft obligation**<br>Present value of defned beneft obligation at beginning of period<br>Benefts paid including expenses<br>Past Service Cost<br>Interest cost<br>Remeasurement losses - assumptions actuarial (gains) and losses<br>Remeasurement (gains) - experience actuarial (gains)<br>**Present value of defned beneft obligation at end of period**<br>**Changes in the fair value of assets**<br>Fair value of Scheme assets at the beginning of period<br>Interest income<br>Contributions by Employer<br>Administration expenses<br>Benefts paid including expenses<br>**Fair value of Scheme assets at the end of period**<br>**Funded status**<br>Remeasurement gains and (losses) - Return on<br>scheme assets excluding interest income|**31-Aug-22**<br>**31-Aug-21**<br>**£000s**<br>**£000s**<br>**25,445**<br>34,878<br>**(31,854)**<br>(45,216)|
|---|---|
||**(6,409)**<br>(10,338)|
||**(6,409)**<br>(10,338)|
||**31-Aug-22**<br>**31-Aug-21**<br>**£000s**<br>**£000s**<br>**45,216**<br>45,298<br>**(1,509)**<br>(1,371)<br>**-**<br>11<br>**711**<br>669<br>**(12,406)**<br>664<br>**(158)**<br>(55)|
||**31,854**<br>45,216|
||**31-Aug-22**<br>**31-Aug-21**<br>**£000s**<br>**£000s**<br>**34,878**<br>32,583<br>**549**<br>481<br>**(8,857)**<br>2,877<br>**609**<br>556<br>**(225)**<br>(248)<br>**(1,509)**<br>(1,371)|
||**25,445**<br>34,878|



40 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **16 MOVEMENT ON UNRESTRICTED RESERVES** 

|General reserves<br>Defined benefit pension scheme fund<br>General reserves<br>Defined benefit pension scheme fund<br>Designated Fund: Property and Equipment Fund<br>Designated Fund: Repairs and Improvement<br>Fund<br>Designated Fund: Property and Equipment Fund<br>Designated Fund: Repairs and Improvement|**Balance**<br>**Net**<br>**Transfers**<br>**Gains**<br>**Balance**<br>**01-Sep-20**<br>**income**<br>**31-Aug-21**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>15,568<br>-<br>(101)<br>-<br>15,467<br>332<br>-<br>68<br>-<br>400<br>9,334<br>547<br>33<br>-<br>9,914<br>(12,715)<br>109<br>-<br>2,268<br>(10,338)|
|---|---|
||12,519<br>656<br>-<br>2,268<br>15,443|
||**Balance**<br>**Net**<br>**Transfers**<br>**Gains**<br>**Balance**<br>**01-Sep-21**<br>**income**<br>**31-Aug-22**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**£000s**<br>**15,467**<br>**-**<br>**3,640**<br>**-**<br>**19,107**<br>**400**<br>**-**<br>**-**<br>**-**<br>**400**<br>**9,914**<br>**(491)**<br>**(3,640)**<br>**-**<br>**5,783**<br>**(10,338)**<br>**222**<br>**-**<br>**3,707**<br>**(6,409)**|
||**15,443**<br>**(269)**<br>**-**<br>**3,707**<br>**18,881**|



The property and equipment fund represents the net book value of the tangible fixed assets held for charitable purposes less the amount financed by restricted funds. Since this fund represents existing fixed assets (mainly buildings) it cannot be converted easily into cash and therefore cannot be used to fund other activities. This now includes assets under construction as these are not construed as being relevant for this reserve calculation as incomplete. 

The repairs and improvement fund represents money set aside by the Trustees towards the finance of special maintenance work and planned major improvements to facilities. We expect to pay £200,000 of these within the next twelve months and all within two years. 

The Trustees have also established free reserves to provide working capital to create a buffer in case there is a sudden reduction in student numbers and to allow for fluctuations in investment returns. The Trustees’ policy is to seek to retain a buffer equal to at least four months of normal operating expenditure. 

## **17 ENTITLEMENT TO LEGACIES** 

The Trust is aware of possible future receipts from legacies, arising on deaths prior to 31 August 2022 where the exact sums are not quantifiable and these are believed to be in the order of £30,726 (2021: £28,022). 

## **18 CAPITAL COMMITMENTS** 

As at 31 August 2022, the Trust had contracted to build Key Worker Accomodation on site at a cost of £3.9m, of which £3.8m has already been incurred. The development was completed in September 2022. 

## **19 TAXATION STATUS** 

Treloar Trust is a registered charity and no tax is payable on its charitable income. The Trust is not registered for VAT and expenditure is shown inclusive of VAT where incurred. 

41 



## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 AUGUST 2022** 

## **20 SHARE CAPITAL** 

The Trust has no share capital and is limited by guarantee. The liability of each member in the event of a winding up, as stated in the Articles of Association, is limited to £1. 

## **21 RELATED PARTY DISCLOSURE** 

The balance due at 31 August 2022 to Treloar Enterprises Limited (TEL), the Trust’s trading subsidiary, from the Trust was £3,490 (2021: £8,889 debtor). Transactions between the Trust and TEL comprised £133,013 (2021: £81,937), including a donation of profits of £77,800 (2021: £21,457). 

The Trust granted to TEL the head lease over flats at Campbell Court. In the year ended 31 August 2022 the Trust was due £60,480 (2021: £60,480) in rent and service charges for these flats. 

## **22 ACCOUNTING ESTIMATES AND JUDGEMENTS** 

In preparing the financial statements, the trustees are required to make estimates and judgements. The matters considered below are considered to be the most important in understanding the judgements that are involved in preparing the financial statements and the uncertainties that could impact amounts reported in the results of operations, financial position and cashflows. Accounting policies are shown in note 1 to the financial statements. 

## **Actuarial assumptions in respect of defined benefit pension scheme** 

The application of actuarial assumptions relating to the defined benefit pension scheme is incorporated in the financial statements in accordance with FRS102. In applying FRS102, advice is taken from an independent qualified actuary. In this context, significant judgement is exercised in a number of areas, including future changes in inflation, mortality rates and the selection of appropriate discount rates. 

## **Pension scheme deficit reduction payments** 

As explained in note 15, there is a deficit reduction plan in place in respect of the defined benefit pension scheme. FRS102 requires a liability to be recognised in respect of the present value of future contributions payable under the terms of the deficit recovery plan. The incorporation of this liability in the financial statements involves the exercise of judgement in a number of areas, including the selection of an appropriate discount rate. 

## **Bad debt provision** 

Consideration is given to debtors which are past their due date as at the balance sheet date and a provision is made against these debts based on both specific information and experience. 

## **Investment Properties** 

Values of investment properties are constantly monitored to ensure that material fair values are reflected within the financial statements. These include judgements on the correct basis of valuation to apply, yield values of these properties where this basis is used and assessment of the most appropriate yield basis. All of these matters include some form of uncertainty around these judgements. 

42 



## **Officers and professional advisers** 

## **TRUSTEES** 

Dr Victor Olisa QPM Chair of Treloar Trust _(from 09.12.22)_ Alistair Mackintosh BSc MBA, Chair of Treloar Trust _(resigned 09.12.2022)_ Sir Alex Allan KCB MA MSc _(resigned 05.01.22)_ Helen Baker DL _(resigned 28.02.22)_ James Bateson LLB Cheryl Brewer Michael Chadwick ACA CTAI (Chairman of Governors, Treloar School & College) David Cook BSc FCIM Anna Galliford BComm ACMA _(appointed 01.09.21)_ Rhys Iley John Paul Marks _(resigned 15.12.21)_ David Matthews JP BSc CA _(resigned 28.01.22)_ Lady Win Normington CBE Udokanma Uzowulu Scott Watkin BEM Ian Cranna _(appointed 09.12.22)_ 

## **HONORARY TRUSTEE** 

Rt. Hon. The Lord Mayor of The City of London 

## **ROYAL PATRON** 

HRH The Countess of Wessex GCVO 

## **SENIOR EXECUTIVES** 

Ryan Campbell CBE Chief Executive Officer & Company Secretary Simon Birch BA MBA ACA Finance & Resources Director Mar�n Ingram BSc PGCE Principal of Treloar School & College 

## **SOLICITORS** 

Stone King LLP Boundary House 91 Charterhouse Street London,EC1M 6HR 

## **PATRONS** 

Fiona Adler Michael Aspel OBE Bob Barre� Dan Bentley The Reverend Mark Birch Stuart C Boreham Lady Tessa Brewer OBE Sir David Brewer KG CMG JP Michael Campbell MBE DL Michael Cassidy CBE BA MBA Chris Childs Christopher Dadson Damon de Laszlo DL Dan Eley Julie Elliot Fernandez Humphrey Hawksley Suzanna Hext Jane Macnabb Maureen Marden Alderman Sir Andrew Parmley Bruce Powell BA FCA MBE Robert Powell Ben Rushgrove Mar�n Sinclair Admiral Sir Jock Slater GCB LVO DL David Smith MBE Roger Southam Jeff Stelling Alastair Stewart OBE Sir Richard S�lgoe OBE DL Alan Titchmarsh MBE DL The Right Reverend David Williams, Bishop of Basingstoke Dame Jacqueline Wilson DBE FRSL Tom Yendell 

## **BANKERS** 

## **AUDITORS** 

BDO LLP 2 City Place Beehive Ring Road Gatwick, RH6 0PA 

Lloyds TSB plc City Office Branch PO Box 72, Bailey Drive Gillingham Business Park Gillingham Kent, ME8 0LS 

## **INVESTMENT MANAGERS** 

Cazenove Capital Ruffer LLP 1 London Wall Place 80 Victoria Street London, EC2Y 5AU London, SW1E 5JL 

43 



“Treloar’s has the perfect balance of educa�on and wellbeing, giving me the opportunity to socialise a�er college as well as learning the skills for life. I really like the fact that everything is centered around what I want to achieve and ge�ng me prepared for my future. I feel really supported and empowered to do my best” Issy, Student 

## **Treloar Trust** 

Powell Drive, Holybourne, Alton, Hampshire GU34 4GL 

A company limited by guarantee. Registered in England No. 4466362 Charity No. 1092857 

## **Contact** 

T: 01420 547400 E: info@treloar.org.uk W: www.treloar.org.uk 


@Treloars 


@Treloars 


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