Reglstered number.. 04864342
Charlty number.. 1099823
Spring Grove School 2003
{A Company limited by guarantee)
Trustees. report and financial statements
for the year ended 31 August 2024

Sprlng Grove School 2003
IA company limited by guarantèe)
Contents
Page
Reference and admlnlstratlve details of the company* Its Trustees and advlsors
Trust8as' r8port
Independent auditor's report on the financlal statements
9-12
statement of flnanclal actlvltles
13
Balance sheet
14
Statement of cash flows
15
Notes to the flnanclal statements
16-29

Sprlng Grove School 2003
(A company Ilmited by guarantee)
Reference and admlnlstratlve dotails of the Company. Its Trustees and advisers
forthe year ended 31 August 2024
Truste8S
D Sweetland, Chair Ireslgned 31 August 2024)
S Burwell
C Harding {resigned 27 Saptembèr 2024)
TLee
A Marlin, Chair {appoinled as Chair on 1 September 20241
A Mcculloch
M Murray
J Thomas
D Uralld
G Welhered
Company reglstèred number
04864342
Charlty register8d number
1099823
Registered offlce
Harville Road
Wye
Ashf{￿d
Kent
TN25 SEZ
Company seGrotary
G Wethered
Senlor leadershlp team
T Jaggard, Head
V Jonas, Bursar
Independent audltor
Kreslon Reeves LLP
Chartered Accountants
Slalulory Auditor
Monlague Plac
Quayslde
Chatham Maritime
Chatham
Kent
ME4 4QU
Page I

Sprlng Grove School 2003
{A company limlted by guarantee)
Trustees. report
for the year ended 31 August 2024
The Trustees present their annual report together with Ihe aL￿lled financial slalements of Spring Grove School
2003 Ilhe Company) for the year ended 31 August 2024. The annual report serves the purposes of both
TrLJslees' Report and 8 Directors, Report under company law. The Trustees confirm that the annual report 2nd
financial statomenls of the charllable company comply with the current statutory requiremenls, the requirements
of the Company's goveming document arkd the provisions of the Slalement of Recommended Practice ISORPI
applicable to chaiities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021 {effeclive 1 January 20191.
Since the Company qualifies as small under section 382 of the Companies Act 2006, the strategic report
required of medium and large companies tjnder the Companies Act 2006 Istralegic Report and Direclars.
R6POrt) R8gul8tlons 2013 has been omilled.
Alms and Oblectlves
The princlpal objective, as set out in the Memorandum of Association, is to educate the school's pupils (between
tho agos of 2 and 111 lo a hlgh 81andard and to provide a wide rarwe of extracurricular aclivilies. The objective is
not to oxpand In slze. as in a conventional business. but lo maintain a flexibly-driven cosl-efficienl operation,
uslng funds as avallable lo enhance the educallon provision, maintain the infvaslructure of the school and al the
samo Ilme to 88118fy the strategy on bursary provlslon havlng glven due conslderalion to meeting publiG benefit
guidance.
The school is commilled lo developing all the children who loin Sprlng Grovo to their full potential, academically,
socially. physically and emotionally in a supportive, caring and frlendly community. Within a beautiful rLtral setting
the school is small enough for the staff lo know every child and their famlly and en¢ourage them lo support the
school mollo of"Always Do YoLtr B881'.
The slated aims of Ihe school are..
To allow all of our children lo love leaming and enjoy living
To develop can-do, résourceful and curious chlldren
To ensure all of our chlldron und6r81and tho valuos ol klndnoss and respect
To nurture communily.mlnded. publicrysplrfled global cllizens
To cullivale an appelile for adventure and a lolercince for error
To live out the schwl mollo.. 'Always Do Your Best,
These alms are closely aligned wlth the flve school values: Curloslty, Confldence. Crealivlty, Consideralionlcare
and Craftsmanshlp. We conllnue lo embed our values as a whole school so we are acllvely li￿ng them out.
W8 b81iev8 Ihal inculcallng our pupils wilh our simp18 golden rules provldes a flrm foundallon upon which to
build a good Ilfe. "Look after your neighbour. and "Show common sense al all Ilmes. both demar￿ a
consideration for others in &veryday life al school and have a direct link with the British values of..
Democracy
Rule of law
Indivldual Ilberty
Mutual respect
Tolerance of those who hold different faiths or beliefs
Page 2

Sprlng Grove School 2003
{A company Ilmlted by guarantee)
Trustees, report {contlnued)
for thg year ended 31 August 2024
Key objectives for the year includ8d'.
To shapa maslery pedagogy within phonics, writing, and m21hemalics lo strengthen leachlng and learning
oulcomos
To review and reflne how and when progress and a¢hievem8nls are reported lo parents
To further develop and sequence Ihe leaching of foundation subjects lo ensure coherence and progression
To revlew the leaching of spelling aoross Ihe sGhool and implement the Edshed Èchem6 to support
consislenl spelling improvement
To continue lo enhance pastoral and SEN care, with a focus orh improving behaviour management slrategles
for SEN puplls
To build on the development of Jigsaw, the PSHE programme, lo further embed and improve delivery
To enhance Qualily Assurall￿ procèsses, Includlng lesson monitoring. endorsement of teacher
2ssessmenls, and largeled small group inlervenllons
To reviaw and furiher develop Gonlinuous provislon In EYFS and Year 1 to strengthen early learning
experiences
To conllnue the slralegic use of data lo supporl lèachlng and learning and provide CPD opportunllies relalod
lo CAT Tests
To incorpor8la problem-solving and Invesllgallve acllvlllos lo dovolop children's fluency, reasonlng, and
expeflise in théir learning, and encourage crltlc81 Ihlnking Ihrough high-order questions such as. Can you
provo it?" Why?" and "Can you explain how?"
To launch the use of YOUHQ to monitor pupil wellbeing
To ensure a smoolh Iranslllon in the Nursery with the appointment of a new Head of Early Years
To launch a new 50-week provislon in the Nursery, providing holiday care for working parents
To complete a review of school unlform to provlde parenls with besl value for money and qualily
To launch a new school website
Revlew of Aetlvltles and Achlevéménts
Pupll numbers were on largel in September 2023, with 166 children the school, and 55 in (he Nursery. The
success of tho school's Prep 6 pupils in the Kent {11 +1 Test is reflected In Ihe leav8rs' destinations for July 2024..
16 children went to local grammar schools, 5 ¢hildren continued lo independent schools, 6 went to non-grammar
slate schools and 1 relocated lo France. 2 chlldren achieved scholarship awards to Independenl schools for
academiG ability and music. We were delighted and proud that a pupil in Prep 6 was Key Stage 2 National
Winner in the Independenl School Mathematician of the Year 2023 competition (result announced in January
20241.
Spring Grove's Nurswy once agaln atthieved a serios of posilive reviews on tha influential DayNurseries website
wllh a 9.4110 ranking on Ihe webslte page.
Spring Grove continues to fly the Eco Schools Green Flag (re-awarded in August 20241 and to improve ils eco
credenllals. In January 2024, the School was awardod Artsmark Gold by the Arts Council of England In
recognition of th6 school's excellent creative and performlng arts provision. The Arlsmark assessment found that
'Spring Grove School has developed a rlch arts curAculum and provides a stimulating variety ol opportunities for
chlldren lo learn In and through the arts as parl of ils regular routinos and limelab5es as well as one-off sp8cial
projects.
Public Beneflt and Communlty Involvement
The Trustees confiim that they have complled with the duly In secllon 4 of th8 Charllies Act 2006 to have due
regard lo the public b6nefil guidance published by the Charily Commlsslon in d&l6rmlnlng the activities
undertaken by the charllable compar)y 8nd In particular to Ils supplamentary guldance on advancing educallon
and on fee-charglng.
The Memoranclum stales th81 lh8 income arK5 properly of the Company can only be appliod loward th8
promotion of thé oblecls of the Company. No profit can be paid out lo members. Goverrnors are appolnled on th8
condition that they receive no remunerallon or other benefit in kind from the Company. However, the Company is
enlilled to pay a reasonabl8 rate of interest on money lent by members of the Company.
Page 3

Sprlng Grove School 2003
IA company Ilmlted by guarantee)
Trustees. report Icontlnued}
for the year ended 31 August 2024
The Memorandum allows the Company lo carry out any building works or malntenance of the sGhool properly
where nec8ssary to promolg the charilsls objects. Bursaries can be created and adminlslarad. Appeals ean be
organised and donations rec8ived as long as the Company does not undertake permanent trading actimlles In
raising funds, other than for its primary charitable objects.
In selling objectives and planning for activities. the Trustees have given du6 conslderalion to general guidanGe
published by tho Charity Commission relating lo public benefit. including the guldancè 'Publi¢ benefil.- running a
charity {P821'.
Spring Grove is pgrt of the wlder communlty of Wye and has close links with organlsatlons such as Wye Church,
Wye Parish Council and Brambles Car& Home. Thg Reception, Year l and Yoar 2 children make regular visits to
the Brambles Care Home lo lake part in activities with the residents. The School's weokly lorm-time new8leller
Ilhe Messenger) is used by a wide range of local businesses for advertI￿ng. Olher acllvitles with local business
involvement in¢ludo tho annual Christmas Fayre lorganised by the school's PTAI. and tho communily Bonflre
Night in November. The School choir also takes part in the annual Princess of Walas's Royal Regiment Carol
Se*vi¢e in Canterbury Cathedral, alongside Wickhambreaux Primary School.
Spring Grove believes that giving lo charity should be a positive experience, and lo help ensure that Ihls is the
case we acknO￿edge the damaging imp8¢t an excessively aggressive approach lo fundraising can have on
vulnerable people, whether from unreasonably persistent approaches being madè or undue pressure lo g5
being applied, and great cara is undertaken to 8nsur8 that such praclices ar8 not adopted by tha School.
The School is proactive in supporting pupils, staff and parents in individual or group fundraising efforts held out
of school - for example the Flolding Little Hands charity which is run by a parent. the Aspire Channel Swim
undertaken by a Member of staff, and the Edward Showl8r Foundation. Harvest donations were delivered to the
Food Bank in Ashford in the Autumn term, as well as a poppy appeal in school for donations to Ihe Royal Brlllgh
Legion. Many fundraising efforts within school are entirely pupil-led, for example a Christmas calendar put
together and sold to raise money for Porchlighl. A school-wide Ihemed w&8k held In the Summer term raise
money for Breast Cancer Now.
Overall fund-raising and collections within the school have benefited the following charities and organisalion8
over the course of the year.. Children in Need, Place2Be, Jeans for Genes, Porchlight, Royal British Legion, Save
the Chlldren. Wye Church, RNIB. Breast Cancer Now, Ashford Food Bank and Comic Relief.
The charity does not ulilise the services of any external commercial fundraisa¢s. Given that the fundraising
aclivllles mentioned are for the benefit of other charities, the trustees do not consider il n@cessary10 8ubscribe to
a Fundr8lsing Regulator.
Th8 charity welcomes fe8dback on ils fundraising approach and seeks lo make improvements wherever il can.
Any complaints received In respect of our fundraising aclivilies are taken very seriously and are acted us)on
Imm￿lately. We are pleased lo report Ihal during Ihe year no complaints were re￿iVed in respect of our
fundralsing aclivily.
Spring Grove's Forest School ar￿ th6 pupil-led Eco Council remain importarht aspects of life al school. The Eco
Council encouraged partlcipation in th8 RSPB'S Great Birdwatch, as well as continuing to work on th8 school's
eco garden. Pupils regulady tak8 part In Iltter picks on local beaches during the Summer term, as part of their
Beach School.
Sport plays a large part Sn Ilfe for the chlldren al Spring Grove. The school holds annual cross eounlry, football,
alhlelics and fun run events to which puplls from kncal primary schools are invited. Spring Grove offers transport
lo those events for schools Ihal do not have Ihelr own mlnibuses. The school encourages participation in local
sports clubs in Ashford. Canterbury and elstswhere. and ￿lebrateS pupils, out of school aohievemenls in a wide
Variety of sports.
The school conlinues lo look at ways In which il can ext8nd Its outreach into the local community, in order to fulfil
ils obligations as a Charity.
Page 4

Sprlng Grove School 2003
(A company limited by guarantee)
Trustees. report {¢ontiNuedl
forthe year ended 31 August 2024
Bursary Awards
Mèans lesled bursary awards ar8 genor211y made in respect of pupils who are new to the school from Year 3
pwards, allhough existing pupils whose paranls become unable to pay their fe8s are also ellglble for hardship
bursaries. Bursaries are reviewed annually to lake Into account changes in circumstance.
During the year, the school contlnued lo provide support lo our puplls already in rec6ipt of fe8 assistance through
bursaries.
As part of our emphasls on allractlng and rotalning high calibre staff, we offèr a discount scheme where staff
m8mbers choose to educate Ihe5r chlldren 81 our school.
Safeguardlng and Child Protèctlon
The school lakes Ils responsibililies for safegu8rdlng chlldren very seriously. Designated SafèguardSng L6ads
IDSL) are in place and are up lo dale wllh required training. A governor, who has speciflc responslblllly for
sal8guarding mallers. meets with th8 DSL annually for 8 full ieview. All related instances are reported lo the
Safeguarding Governor as soon as they arise. All staff are briefed regularly on Ihe importance of being aware of
child proleclion Issues.
Flnancial Review
The results for the year and Ihe financial position of the Charity are as shown In the allached financial
sl8lemenls.
Fee Income al the school tolalled £2.365k (2023.. £2,252k) wilh 166 {2023.. 1651 puplls enrolled in the Main
School {Receplion-Year 6) in summer 2024. With control of ¢osls, Sprlng Grove remained In Ilne wllh budgeted
figures lo enable ¢onlinued investment back into the school. Early Years remained strong with 60 (2023: 66)
ohilcgren enrolled In th8 Nursery during summer 2024.
EBITDA (Earnlngs before Inlpresl, Depreclatlon and Amortisalionl was £222k 12023= £227kl- The School
continues to Invest the surplu8 in staff development and Iralning. curriculum resoUr￿s, and maintenance of and
enhanceménts to the groLtnds and buildings.
Durtng 2023-2024, the followlng work was completed in the school-.
Completion of the work requirèd lo extend the maln car park. improving the parking provlslon for parents
Upgrade of the surfacing in front of the Main School, lo provide a second netball Iralning Arèa
Inslallalion of a n8w front door and surrounding frame, and palnlinglrepair of lh8 woodwoKk at the front of the
Main School building
In addition, following fundraising by the PTA, new play equlpmenl was inslalled in the Key Stage 1 garden, and
an auto4oser lo th8 swimming pool, slgnilicanlly reduclng the amount of lime the pool is out of action.
a. Golng concern
Aftèr making appropriate ellquiries, the Trustees have a reasonable expectation that the oompany has adequate
résources lo Continue in operational 8xltslence lor the foreseeable fulure. For this r6ason they continue lo adopt
the going concern basis in preparing the financial slalemenls. Further details regarding the adoption of the goin
oncorn basis can be found in the Accounting Policies.
Management accounts are produced monthly by Ihe Bursar and revlewed together with pupil numbgrs and cash
collectlons by th6 Finance and General Purpose IF&GPI Commlllee, who meet at least tWi¢é Par term.
Page 5

Sprlng Grove School 2003
IA company limited by guarantee)
Trustees. report (eontinuedl
for thè year èndéd 31 August 2024
b. Reserves pollcy
11 is the policy of the Board that 11 should aim to have general funds 818 level equivalent lo belween six and
twelve months. expenditure. The Board's view is that general funds al this level provide sufficient headroom to
enable the charily lo continue operating in the event of a sudden fall in income. General funds represenl all of the
charity's assets excluding the Revaluation Reserve.
Al 31 August 2024, the chari15ls general funds amounted to £1,908,560 which equates lo 18n months.
expenditure 12023 - £1,739.270 equating to 9.3 months, expondllure) based on expenditure 16vels for tha
respective years. Therefore, general funds at 31 August 2024 are in Ilne wllh the reserves policy.
Tha level of reserves are monitored Ihroughoul the year as part of th8 normal monitoring arHI budgetary
reporting process.
The Rev8lu8lion Reserve Is unreslricled and represents the increase In value of the lanqible fixed assets of the
charity. This policy of revaluallon serves lo reflect a satisfactory Loan lo Value ratio on the Secured Debt of the
charity.
Debt collection remains a top prtority and Is monitored by the F&GP Commi116e.
c. Valuation and bank covenants
Valuation of tho grounds and buildlngs was undertaken in June 2018 with a freehold value of £2.26m and an
open mafkel value of £2.7m. Other assets are not material. This valuation confirms that the school remains
comfortably within ils covenants for the Bank Loan charged againsl ils Freehold assets. Under the terms of the
bank loan, the loan shall not at any lime exceed 700A of the property value.
Structure, Governance and Managemenl
a. Constitutlon
The Gompany is registered as a charitable company Ilmlled by guarantee Iregislered charity number fO998231
and was sel up by a Memorandum of Association on 12 August 2003. The Memorandum & Articles of
AssoGialion have been amended sinc6 conslilulion., the latest amendment was on 11 February 2016.
The principal object of tho company is lo prowde educatlon lo chlldren between the ages of 2 and 11.
b, Method of aRpolntment or el8ctlon of trusteès
The management of the Company is tho responslblllty of the Trusteès who are elected and co-opted under the
terms of the Articles of Assooialion.
The Arlicles of Association of the Company stal8 that a Iruslee or govemor is also deemed lo be a director of the
Company. There can be a minimum of three and a maximum of 12 governors, unless otherwise determined by a
General Meeting. As al 31 Augvsl 2024 Ih8re were 10 governors on the CoMpan￿S board. Governors are
appointed wlh the unanimous agreement of silting gov&rnors 8nd such appointments are reported in the board
minutes. At each Annual General Meeting, one third of governors are rÈqulred to retire from office. whereby a
rgsolullon can be made for reappoinlmenl of other persons In Ihelr place.
P2ge 6

Sprlng Grov8 School 2003
IA company Ilmlted by guarantee)
Trustees. report (contlnuedl
forthe yearended 31 August 2024
Organlsational structure and d&clslon maklng
The Board of Governors is responsible for the overall management and control of the school and meets al least
threa limas a year.
The school currently has the following commillees, all of which meet al least once a term, unless olherwse
indicated in the terms of reference..
Full Governing Body- Working groups- Strategy & Development. Nominations and Marketing
Educallon Commille8 {Academic and Curriculum)
Financè & Goneral Pu¥pos8 IFG&P)- Working group- Remuneration
Compllanca & Risk- Working groups.. Safeguarding and Pastoral, Eslales and Health & Safety
The work of mor)iloring financial perfomiance is carried out by the members of the FG&P Commillge, where the
audited accounts are revlewed prior to belng approved by the Governors. The F&GP Committee meets al least
six limes per year. Management accounts are reviewed al each FG&P meeting to check aclualMore¢asl income
and expendilure against both the budget and last y8arfs equivalent figures. Key performance indicators IKPIS)
8r6 used lo monitor trends and act as an early Indlcalor of potential problems. The F&GP commillee monitors
pupil numbers, pupil teacher rallos, teacher staff costs per pupil. fe& concessions, cost ratios, le8 increases,
capital 6xpendilure, deblors, surpluses and reserves.
The R8munuralion Commillee meets once a year lo revlaw the performance of the Head. Burssr and senior
slaff, and mako rvcommendalions to the Governlng Body on the lev81 of remuneration for the next academic
year.
The day lo day runnlng of the school is delegated lo the Head, supported by a Senior Leadership Team of senior
teachers, Bursar and Head of Marketing & Admissions. The Head undertakes the key leadership role overseelng
educational, pastoral and adminislr81iv6 funclioris, in consullalion with the senior staff. The day to day
admlnislralion of the school is und8rtaken within the policies and procedures approved by the Governors, whlch
provide for non-budgeled expenditure decisions ¥nd major capilal projects lo be referred lo the Governors for
prior approval. The Head oversees the recrultmenl of all staff., the Bursar oversees management of
adminislralive and non-leaching support staff.
d. Policies adopted for the induGtlon and tralning of trustees
Induction of now trustees includ8s a review of the CharÉly Commlsslon Handbook CC3 Yhe essential Iruslee..
what you naod lo know, what you r188d lo do the school's Articles & Memorandum of Association, recent
Gove¥nlng Body mlnulos. Safeguarding & Child protecllon training and safeguarding obligations. The School Is 8
member of AGBIS (Association of Governing Bodies of Independent Schools) lo further the knowledge and
training of the Board of Governors.
Rlsk management
The Trustees have assessed the major risks lo which th8 Company Is èxposed, In partlcular Ihoso ré121ed lo the
operations and finances of the Company, and ara satislied that systems and proo8durgs are in pl4c8 lo mitigate
our oxposure to Ihe major risks. Speclflc risks identified..
Risk
Financial insecurities,. a fall in pupil numbers,
particularly reflecting the requlrgmenl payment of VAT
on school fees from l January 2025
Miti
atin
strate
ies
Continue to f￿u$ on markellng and retention of
piipils, along wllh provldlng flnanclal 8UPPOrt Io
families unable lo pay full f@es. Commllmenl to keep
fees as affordable as possible. wllh cosls kept under
carefijl revlew. M8lnlaln a strong financial position and
reserves lo
rovlde headroom
Review of management accounts, including costs and
KPIS with Governors al F&GP Meelin
Strong Home Learning provision. Robusl Conlingency
in
lace
Page 7
Inflationary pressures,. loss of business rale relief,.
oor financial mana
emenl and re
ortin
Loss of revenue through forced closure or partial
closure ol the school

Spring Grove School 2003
IA company limited by guarantee)
Trustaes. r8port {continuedl
for the yèar ended 31 August 2024
statement of trustees. rèsponslbllltles
Th8 Trus18es (who ara also direotors of Spring Grove School 2003 for the purposes of company lawl ara
responsible for preparing the Trustees, report and the financi81 statements in accordance with applicÉblÈ12w and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice)-
Company law requires the Trusloes to prepare financial slalemenls for each financial year. Under Company law
the Trustees musl not approve the financial slal&m&nls unless they are satisfied that they give a true and fair
view of the stale of affairs of the charitable compAny 5Jnd of tha Incoming resDur¢es and application of resources,
including the income And expenditure, of the charitab16 company for that period. In preparino thesè finarbcial
slalemenls, the Trustees are required lo..
select suitabl8 accounting policies and then apply them consistently-
observe the methods 2nd principles In Ihe Charities SORP IFRS 102).,
make jiidgmenls and accounting eslimale8 th81 are rèasonable and prudenl.,
stale whether applicable UK Accounting Standards {FRS 1021 hava bèen followed, subject to any material
departures disclosed and explained in the financial slaloments.
prepare the linancial slalements on the going concern basls unless 11 is inapproprlate lo presume that the
company will continue in operation.
The Trustees are responsible for keeping adequale accounlir)g records that are sufficlenl lo show atKI explaln
the charitable compan¥s transactions and disclose wilh reasonable accuracy al any lime the financial position of
the charitable company and ellable them lo ensure that the financial slalemenls comply with the Companies Act
2006. They are also responsible for safeguarding the asselb ol Ihe Ghari18ble company and h&nce for tsking
reasonable steps for Ihe prevention and deleclion of Iraud and other irregularilleb.
Disclosurè of information to auditor
Each of tho persons who are Trust8es at the lime when Ihis Trustees, report is approvad has confirmod Ihal..
so far as Ihal Tyustee is aware. there is no relevant audit information of which the Gharilable oompanys
auditor is unaware. and
that Trustee has taken all the steps Ihal ought lo have been laken as a Trustee in order lo be aware of any
relevant audil information and lo establish Ihal the charity's auditor is aware of Ihal information.
Audltor
The audilor, Kreston Reeves LLP, has indicalod its willingness lo contlnue in office. The deslgnaled TrnJ8tees WEII
propose a molion reappointing the auditor at a meeting of the Trustees.
In preparing this report, the Trustees have taken advantage of the small companies exemptlons provided by
secl
n 415A of the Companies Acl 2006.
App
ved by order of the rriembers of the board of Trusloes and signed on their beh81f by..
rtin
Date.. 17 March 2025
Page 8

**Spring Grove School 2003 (A company limited by guarantee)** 

## **Independent auditor's report to the Members of  Spring Grove School 2003** 

## **Opinion** 

We have audited the financial statements of Spring Grove School 2003 (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

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 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

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

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

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

Page 9 



**Spring Grove School 2003 (A company limited by guarantee)** 

## **Independent auditor's report to the Members of  Spring Grove School 2003 (continued)** 

## **Other information** 

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our 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 information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required 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 information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinion on other matters prescribed by the Companies Act 2006** 

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

- the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements. 

- the Trustees' report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report. 

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report. 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation 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 continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

Page 10 



**Spring Grove School 2003 (A company limited by guarantee)** 

## **Independent auditor's report to the Members of  Spring Grove School 2003 (continued)** 

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

Our objectives 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. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

## _Capability of the audit in detecting irregularities, including fraud_ 

Based on our understanding of the Charity and sector as a whole, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, ISI inspections, safeguarding, GDPR and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees' management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure.  Audit procedures performed by the engagement team included: 

- Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations and fraud; and 

- Assessment of identified fraud risk factors; and 

- Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and 

- Performing analytical procedures with automated data analytics tools to identify any unusual or unexpected relationships,including related party transactions, that may indicate risks of material misstatement due to fraud; and 

- Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and 

- Reading minutes of meetings of those charged with governance; and 

- Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

Page 11 



**Spring Grove School 2003 (A company limited by guarantee)** 

## **Independent auditor's report to the Members of  Spring Grove School 2003 (continued)** 

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charitable company's internal control. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. 

- Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in my Auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of my Auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## **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 permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. 

## **Lucy Hammond BSc, FCA (Senior statutory auditor)** 

for and on behalf of **Kreston Reeves LLP** 

Chartered Accountants Statutory Auditor Chatham Maritime 

Date: 20 March 2025 

Page 12 



Spring Grov6 School 2003
IA company limited by guaranteè)
Statement of flnanclal actlvities (Incorporatlng Income and expendlture account)
for the year ended 31 August 2024
Unr&strlct8d
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from..
Donations and grants
Charitable 8clivllies
Investments
5,579
2.514.188
11,557
5,579
2,514,188
11,557
6,328
2.397,237
1,957
Total incomè
2,531,324
2,531,324
2,405,522
Exp&ndllura on:
Charitable activities
2,362,034
2,362,034
2,240,514
Total expenditurè
2,362,034
2,362.034
2,240,514
Nat movemént In funds
169,290
169,290
165.008
Reconclllation of funds:
Total funds brought lorward
Net rnovgmenl in funds
15
2,491,098
169,290
2.491,098
169,290
2,326,090
165,008
Total funds carrlad forward
15
2,660,388
2,660,388
2,491,098
The Statement ol flnanclal aclivilles includes all gains and losse$ recognlsed in the year.
The notes on pages 16 10 29 form part of Ihese financial slalemenls.
Page 13

Sprlng Grove School 2003
IA company limited by guarantee)
Registered number: 04864342
Balance sheet
as at 31 August 2024
2024
2023
Note
Fix8d assets
Tanglbl6 asse18
Current assats
10
3,490,112
3,449,791
Debtors
Cash al bank and in hand
11
76,877
1,004,709
78,221
515.876
1.081,586
594,097
Creditors.. amounts falllng due wSlhin one
yL)ar
12
1711,3411
{528.492)
Net current a88et8
370,245
65,605
Total assets less currènt Ilabllltles
3,860.357
3,515,396
Creditors.. amour)Is falling due atier more
than one year
13
{1,199.969
(1,024,298)
Total net assals
2,660,388
2,491,098
Charity funds
Unrestricted f￿ndS
Revaluallon reserve
15
1,908,560
751,828
1,739,270
751,828
Total unreslrlcted funds
15
2.660.388
2.491.098
Total funds
2.660,388
2,491.098
The Trustees acknow16dg6 Ihelr rosponslbllllles for complying with the requirements of the Act with respect to
accounting records and proparallon of financial slalemenis.
The financial stalemenls have been prepared in accordance with th8 provlslons appllcable lo enlilies Sltbject to
Ih6s
all compani6s regim6.
The
nancial slalemenls were approved and aulhorised for issue by the Tnjslees and 8ign8d on their behalf by=
rtln
Chair
Date.. 17 March 2025
The notes on pages 16 10 29 form part of these finane4al slalements.
Page 14

Sprlng Grove School 2003
(A campany limltad by guarantee)
statement of cash flows
fortho year ended 31 August 2024
2024
2023
Note
Cash flows from operating actlvitles
Nel cash generated by operating aclivilies
17
630,389
101,180
Cash flows from investing actlvitles
Divtdends. Interests and rents from invaslments
Purchase of tangible flxed assals
11,557
1,957
177.556) (300,6201
Net cash used In Invastlng activities
165,999) (298.6631
Cash flows from finanGing activltles
Interest pald
Repayments of borrovAng
{699)
174,858)
(76,9491
Net cash used In flnanclng activities
175,557)
(76.9491
Change in cash and ¢ash equlvalents In the year
Cash and cash equivalents al the beglnning of the year
488,833
(274,432)
790,308
515,876
Cash and cash oqulvalents at the end of the year
18
1,004,709
515,876
The notes on pages 16 10 29 form part of these financial stalemenlg
Page 15

Sprlng Grove School 2003
(A company limlted by guarantee)
Note5 to the financial statements
for the year ended 31 August 2024
General information
Spring Grove School 2003 is a company limited by guar8nt66 regisler8d In England and Wales. The
registered offlce Is Harvllle Road, Wye, Ashford, K8nt, TN25 5EZ. The principal aclivily of the corllpany is
lo provlde educatlon lo chSldren betwaen the ages of 2 and 11.
The financlal slalemenls are presented In s18rling and rounded lo the nearest £1.
A summary of th6 principal accounting policies adopted (which have been applied consistently, except
wh6rg notod), ludgemenis and key sources of esllmallon uncertalnly, Is set out below.
A¢countlng pollcles
2.1 Basis of preparation of financial statements
The fir¢ancial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities-. Statement of Recommended PraGlibe applicable lo chcirllles
preparing their a¢¢ounls in accordance with the Financial Reporiing Standard applicable In the UK
and Republic of Ireland (FRS 1021 {effe¢live 1 January 20191 and the Compar)i¢s Act 2006.
Spring Grove School 2003 meets Ihe definition of a public benefit enlily under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the
relevant ac¢ounting poli¢y.
2.2 Company status
The company Is a company limited by guarantee. The members of the Company are the Trustees
named on pagé 1. In the event of the company being wound up, Ihe liability in respect of the
guarantee is limited to £1 per membar of the company.
2.3 Fund accountlng
General funds are unrestricted funds which are availab5e for use al the discrètion of the Trustees In
furtherance of Ihe gener21 objectives of the company and which have not been designaled for other
purposes.
2.4 Golng concern
The Trustees assess whether the use of going Con￿rn is appropriale l.e. whether there are any
material uncertainlies related to events or conditions that may cast significant doubl on the abillty of
the company lo continue as a going concern. The Trustees make this assessmenl in respect of a
period of at least one year from the dale of aulhorisalion for issue of the financlal statements and
have concluded that the company has adequate resources lo conlinue in operational existenc& for
the foreseeable fLtlure and there are no material uncertainties about the companys ability lo conlirbue
as a going concern, thus they continue to adopt the going concern basis of accounting in preparing
the financial statements.
2.5 Incoma
All income is recognised once tho company has enlillemenl to the income, il is probable that the
income wll be received and the amounl of income receivable can be measured reliably.
Page 16

Sprlng Grove School 2003
IA company limited by guarantee)
Notes to the flnanclal statements
lorlhe year ended 31 August 2024
Accountlng pollclès Icontlnuedl
2.6 Expèndlturé
Expenditure is recognised once there Is 8 legal or conslructlve obligallon lo transfer economiG benefit
lo a third party, il is probable that a transfer of economlc benefits wlll be required in selllemenl and
Ihe amount of the obligation can be measured reliably.
Support costs are those costs incurred dlreclly In support of expenditure on the objects of the
company.
Expendllura on charitable activities is inourred on directly undèrtaking the acllvllles which fLJrther Ihe
Company's obl&clives, as well as any associated support costs.
2.7 Int8r8St racalvable
Interest on funds held on deposit is included when receivable and Ihe amount can be measured
re.Ilably by the company,. thls is normally upon nollficallon of the Inter881 paid or payablg by the
inslilulion with whom the funds are d8POSlted.
2.8 Tanglble flxad asséts and depreciation
Tangible fixed a8$8ls, under the cosl model, are slated at hlstorical cost less accumulated
depreciation and any accumulated Impairment losses. Historical cost includes expenditure Ihal is
directly atlrlbLJl8ble to bringing the asset lo the locatior) and condition necessary for11 lo be capable of
operating in the manner intended by management.
Al each rèportlng dale the company assesses whether there is any indlcat5on of impalrmont. If such
indication exlsls, the recoverable amount of th8 asset is delermined lo be Ihe hlghèr of ils fair value
less costs lo sell alld Its value in use. An impalrmenl loss is recognised where the carrylng amount
exceeds the recoverable amount.
Depreciation is charged so as lo allocate th& cost of langlble fixed assets less their residual value
over Ihelr estimated useful lives. as follows..
Motor vehicles
Office equipmont
200A on cost
20% on cost
The assets, resldual values. useful lives and depreclallon methods are r8viewed, and adju8led
prOSt￿ctIVelY if approprlale. or if there is an indication of a slgnificanl change Since the last reporting
dale.
Gains and losses on dl8posals are determined by comparing the proceeds wllh the carrylng amount
and ar8 r8cognised in the Statement of financial activities.
2.9 Révaluatlon of tangible fixed assets
The company has adopted the revmlualiori model lo revalue items of proptrrty whosé falr value can b6
measu¥ed rellably. The revaluations shall be made with sufficient regularity lo ensure that the carrying
amount does not differ malerially from that whlch would be determined using fair value at the end of
the reporting period.
Th8 fair value of land and bulldlngs Is usually determined from markel-based èvidence by 2ppr81s81
that is rbormally undertak8n by professionally qualified valuers. In addition, the Trusleeg regularly
consider the carrwng value of the school's tanglb16 fixed assels against the loaal market and South
East house Price Index, along wlh the value of fre8hold property improvements.
Pa9e 17

Sprlng Grove School 2003
IA company Ilmitad by guarantee)
Notes to the flnanclal statoments
fortho year ended 31 August 2024
Accounting policiès {¢onfjnuedl
2.10 Debtors
Trade debtors and prepayments ara rècognlsed al the selllemenl amount after any trade discount
offered.
2,11 Cash at bank and In hand
Cash al bank and in har)d includes cash and short-lerm hlghly Ilqurd Investments with a short maturily
of thr89 months or18ss trom the dat& of acquisition or opening of the deposit or similar account.
2.12 Liabilitias
Liabilities are recognised when there is an obllgalior) at the balance sheet éate as a result of a past
evonl, il is probable that a transfer of economic bènefll ￿11 be required in selllemenl, and the amount
of the selllemenl can be estimated reliably.
Liabiliti&s arg recognised at the amount that the company anticipates 11 will pay lo sellle the debt or
th6 amount il has received as advan¢ed payments for the goods or service911 musl provide.
2,13 Financlal instruments
The company onty has financial assets and linancial liab111116s of a kind that qualify as basic financial
inslrumenls. 8asic financial instruments are initially recognised at transaction value and subsequently
measured al their selllemenl valve with the exception of bank loans which are subsequently
measured at amortised cost using the eff6¢tiv8 interest method.
2.14 Penslons
The company operates a defined contribution pension schome and the pension charge represents
the amounts payable by the company lo the furTrd in respect of the year.
Income from donatlons, legacl85 and grants
Unr&stri¢ted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
5,579
5,579
6,328
Total 2023
6,328
6,328
Page 18

Sprlng Grove S¢hool 2003
(A ¢ompany limited by guarant881
Notes to the flnancial statements
forthe year ended 31 August 2024
Income from charltable aGtivitSes
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Charitable activities
2,514,188
2,514,188
2,397,237
Total 2023
2,397,237
2,397,237
Unr8stricted
funds
2024
Total
funds
2024
Total
fuRds
2023
School faes
Giraffes fees
Teddies fees
Sports and activities fees
Outlngs and school trip8
Misoellan8OLES income
Wrap around care
inibus servlce
Facility hire
Bursaries and discounts
2,201,440
179,792
128,927
33,086
2,201,440
179,792
128,927
33,086
2,062,552
166,063
139,375
14.177
iii
41,284
41,284
38,497
27,450
27,450
47,253
37,537
37,537
37,699
3,380
3,380
2,212
6,243
6,243
5.535
(145,359) {145,359} 1116,1261
2,513,780
2,513,780
2,397,237
Total 2023
2,397,237
2,397,237
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Bank Interest received
11,557
11,557
1,957
Total 2023
1,957
1,957
Page 19

Spring Grovè SGhool 2003
IA company limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Analysls of expenditure by activities
Diract
Costs
Support
costs
2024
Total
funds
2024
Total
funds
2023
2024
Charflable activllles
1,555,q26
806,908
2,362,034
2.240,514
Totsl 2023
1,386,117
854,397
2,240,514
Analysis of direct costs
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Staff costs
Teaching materials
Canteen costs
Sports and aclivllies costs
Outings and school trip costs
1.361.605
36,281
86,460
24,318
47,462
1,361,605
36,281
85,460
24,318
47,462
1,224,995
37,360
77,164
5,297
41,301
1,555,128
1,555,126
1,386,117
Total 2023
1,386.117
1,386,117
Page 20

Sprlng Grove School 2003
IA company limlted by guarantee)
Notes to the fiiiancial statements
for the yeargnded 31 August 2024
Analysls of expenditure by activities Icontinuedl
Analysis of support costs
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Staff costs
Depreciatio
Auditor's remuneratlon
Cleaning
Legal and professional fees
Repairs and renewals
Bank loan inlerost
Bank charges
Bad debl provislon
Motor an'd Iravelling expenses
Sundry expenses
Bookkeeper
360,781
37,235
360,781
37,235
400,346
35,231
53.707
25,218
124,131
27,016
4,443
11,1421
12,256
7,457
3,670
53,707
25,21 8
124,131
27,016
4,443
11,142)
12,256
7,457
3,570
38.592
32,848
114,915
28,976
2,771
4,433
15,334
9,973
3,240
L 111
Rent
Rates and water
1,000
15,257
17,683
38,271
7,418
4,410
11,793
4,822
6,993
23,130
8,884
12,575
1,000
15,257
17,683
38,271
7,418
4,410
11,793
4,822
6,993
23,130
8,B84
12,575
1,000
13,648
17,794
46,521
6,194
Insurance
Light and heat
Staff welfare
Equlpment hire
Staff tralnSng
T@lephono
Printing, poslagg and stalionary
Advertising
Subsoriptions
Governance costs - audit and accounlanGy
14,665
4,923
6,654
39,182
7,077
10,080
806,908
806,908
854.397
Total 2023
854,397
854,397
Page 21

Sprlng Grove School 2003
IA company limited by guarantee)
Notes to the financial stat8m8nts
for the year ended 31 August 2024
Auditor's remuneration
2024
2023
Fees payable to the company's auditor for the audit of the company's
annual accounts
9,680
9,080
Fees payable to the company's auditor in respect of..
All non-audil services not included above
1,000
fj.000
Staff costs
2024
2023
Wagos and salaries
Social socurity costs
Contribution to defined conlrlbulion pension schem8S
1,518,467
138,273
65,646
q,433,869
125,046
66,426
1,722,386
1,625.341
The average number of persons employe(I by the company during the year was as foll(ws-
2024
2023
Headteacher
Teaohers
Classroom assistants
Canteen staff
Administration staff
20
21
20
21
Mainlenan
Cleaners
59
58
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
2024
2023
In the band £70.001- £80,000
The key management personnel of Spring Grove School 20Q3 comprise the Trustees and Senior
Leadership Team listed on page l. The lolal remunerallon and benefits, inclLJding émployèr's nallonal
insurance conlribulions, p8id to the key managemenl personnél for Ihelr sarvice8 lo the school during the
year amounted lo £161,801 12023.. £166,333). Included wlhin this amount are employer's nallonal
insurance contributions which total £14,986 {2023'. £15,816) and employer's pension conlribullons of
£19.84512023.' £18,975).
Page 22

Sprlng Grove School 2003
{A company Ilmited by guarantee)
Notes to the flnancial statements
for the year ended 31 August 2024
Trustees. remun¢ration and expenses
During the year, no Truslaes received any rsmuneralion or other ben8fils12023 - £NIL).
During the year ended 31 August 2024, one Iwslèe was relmursed expenses related lo travel and other
expenses, lolalling £18612023 £Nill.
10. Tanglble flxed assets
Freehold
property
Motor Fixtures and
vehlcles
fittings
Total
Cost or valuation
Al 1 September 2023
Additions
Dlsposals
3,333,262
56,655
38,819
366,912
20,901
1406}
3,738,993
77,556
14061
At 31 August 2024
3,389.917
3B.819
387,407
3,816,143
Depreclatlon
At 1 September 2023
Charge for the year
On disposals
36,099
2,720
253,103
34,515
14061
289.202
37,235
14061
Al 31 Augusl 2024
38,819
287,212
326.031
Net book value
Al 31 August 2024
3,389,917
100,195
3,490,112
Al 31 August 2023
3,333,262
2,720
113,809
3,449.791
The exlsllrtg freehold land and bulldlngs were valued an open market basls on 16 July 2018, by
Pinder8. to be £2,700,000. Since Ihls dale the school has spent £689,917 on Improvements lo ils
premises. The Trustees have assessed the valuation taking into account both current market conditions
and Ihe valug of Ireehold improvements, and believe that this expenditure has enhanced the valuation in
dlrect prorx)rtlon lo the cosl.
Page 23

Sprlng Grove School 2003
IA company limited by guarantee)
Notes to th8 flnanclal statements
fortho ygar ended 31 August 2024
At 31 August 2024 freehold property is staled as follows..
2024
At cost
Movement as a result of addllions and previous revaluations
2,581,434
808,483
Net book value of freehold property
3,389,917
11. Debtors
2024
2023
Due within one year
Trade d8blors
Prepayments and accrued income
27,782
49,095
26,fj70
51,551
76,877
78,221
12.
Credltors: Amounts falllng duè within one year
2024
2023
Bank loans
Trade creditors
Other taxation 2nd social security
Other Creditors
Accruals
70,492
32,019
26,432
550,466
31.932
68,410
57,476
37,365
335,260
29,981
711,341
528,492
Bank loans are secured by a first charge over the company's freehold land and buildlngs.
Page 24

Sprlng Grove SGhool 2003
IA company Ilmlted by guarantee)
Notes to th8 financlal statements
for th& year ended 31 August 2024
13. Credltors: Amounts falllng due after more than one year
2024
2023
Bank loans
900,783
299,186
977,723
46,575
Other credllors
1,199,969
1,024,298
Spring Crove School 2003 hold a loan from Barclays Bank UK repayablg in full in Augusl 2035, Interesl Is
payable al a rate of 2.690/0 P8r anntjm. The loan is secured on the properly of the school.
The aggregate amount of Ilabililies payable or repayable wholly or In part more than five years alter Ihe
reporting date is..
2024
2023
Bank loans
DeposSls Sn advanoe
572.028
27,350
658,876
27,950
599,378
686,626
14. Advancè school fae payments
2024
2023
Balance brought forward
New School fees
Amounts ulilised in payments of fe8S
School fees invoiced in advance
310,472
399,358
2,201,440
2,062,552
12,276,382) 12,151,438)
537,635
Balancè carrled forward
773,165
310,472
These advanc8 payments ere Included wilhin creditors falling due wlhin one ygar and morg than one
year.
Pagg 25

Sprlng Grov8 School 2003
IA company Ilmlted by guarantee)
Notes to the flnanelal statements
for tho year endod 31 August 2024
15. Statement of funds
statement of funds - current year
Balance at i
September
2023
Balance at
31 August
2024
Income Expendlture
Unrestricted funds
General Funds
1,739,270
751,828
2,531,324
12,362,034)
1,908,560
751,828
Revaluation resetve
2,491,098
2,531,324 12,362,034)
2,660,388
Statement of funds - prlor year
B818nce al
1 Soplemb6r
2022
8alanc6 at
31 August
2023
Income Expenditure
Unrestricted funds
General Funds
1,574,262
751.828
2,405,522
12,240,514)
1,739,270
751,828
Revaluation resarve
2,326,090
2,405,522
{2,240,5141 2,491,098
16.
Analysis of net assets between funds
Analysis of net assets belween funds - current period
Unrestricted
funds
2024
Total
fund5
2024
Tangible fixed assets
Current assets
Creditors due within one year
Cradilor8 due in mor6 than one year
3,4go.112
3,490,112
1,081,586
1,081,586
(711,341) (711.341)
{1.199.969) (1,199.9691
Total
2,660,388
2,660,388
Page 26

Spring Grove School 2003
(A company Ilmlted by guarantee)
Not8S to the financial statements
forth8 year endéd 31 August 2024
16.
Analysls of net assets between funds Icontlnutrdl
Analysis of net assèts between funds prlor period
Unreslrfcled
funds
2023
Total
funds
2023
Tangible fixed assets
Current assets
3,449,791
3,449,791
594,097
594,097
1528,4921 1528,4921
11,024,298) {1.024,2981
Credilorg due within one year
Creditors due in more than ono year
Total
2,49fj,098
2,491,098
1Y.
Reconciliation of net movement In funds to net cash flow from operating actlvltles
2024
2023
Net Income for the period las per Stslemenl of Flnanclal Activities)
169.290
165,008
Adjustments for:
Depreclallon charges
DSvidends, interests and rents from Investments
Decreasollincreasel in debtors
IncreaselldeGrease) in creditors
37,235
110,85B)
1,344
433,378
35,231
{1,9571
{20,5851
{76,5171
Net Gash provlded by operatlng actlvltl&s
630,389
101,180
18. Analysls of Cash and cash equlvalents
2024
2023
Cash in hand
1,004,709
515.876
Page 27

Sprlng Grovo S¢hool 2003
{A company limited by guarantee)
Notes to the financlal statements
for the year ended 31 August 2024
19. Analysls of changes in net debt
At1
September
2023 Cash flows
Other non-
cash
At31
changes August 2024
Cash al bank and in hand
Debt due within l year
Debt due after 1 y8ar
515,876
168,4101
1977,7231
488,833
1,004,709
170,492)
1900,783)
12,0821
76.940
{530,2571
488.833
74,658
33,434
20.
Pension ¢ommltments
The school operalas a defined contribution pension schema. The ass8ts of the schem8 are held
soparately from thosé of the school in an independently administer￿ fund. Thg eonlribulions payable by
the school lo the fund during tho financial year amounted to £65.646 12023.. £66,426). Gonlribulions
lolalling £10,077 (2023: £10,479) were payable to th6 fund at the balance sheet date and are Included in
crcdilors.
21.
Operatlng lease commltments
Al 31 August 2024 the company had commSlmenls lo make futur8 minimum lease payment8 under non-
cancellablg operating 5eas8s as follows:
2024
2023
Not later Ihan 1 year
3,307
Page 28

Sprlng Grove School 2003
{A company limited by guarantee)
Not8S to the flnancial statements
forthe year ended 31 August 2024
22. Related party transactlons
During the year, S Burwell Ilrusle81 had a chlld in the school for whom sohool 16es were paid and are
illcluded within the school's income. The lolal income received was £14,715 {2023.' £13,755) for the
academic year. No balances remain oulslandlng (2023.. £Nill.
During the ye8r, C Harding Ilrusleel had children in Iha school for whom school fees were paid and are
included within the school's income. The lolal income received was £25,445 (2023.. £20,517) for the
academic y6ar. No balances rarnain oulslandlng12023: £NIII.
During the year. G Welherad Ilrusleèl had a grandchild in the school for whom school fees w8ra paid and
are included within the s¢hool's income. The lolal incoTne received was £4,400 12023.. £Nill for the
academlc year. No balances ramain outstanding {2023'. £NIII.
During the year, A Mcculloch {Iruslee) had childr8n In the SGhool for whom school fees were paid and are
included within the school's Income. The lolal income received was £21,000 {2023'. £11,514) for the
academic year. No balances remain ouis'landing {2023.. £Nill. Fees In advance of £25,31912023- £Nill
were paid by A Mcculloch for future academic years, this is included in the Fees in advancè creditor
balance al th8 year end.
Durinq the year, V Jones (bursar) had a chlld in the school for whom school fees were pald and are
included within the school's Income. Th6 total Income received was £7,358 12023: £6,877) for the
academic year. No balances remain oulslanding12023'. £Nill.
During the year, the sGhool paid £21,191 12023.. £22,863) lo Deus Solutions Limited In respect of IT
services lo the school, a ¢ompany of which D Urand Ilrusleo) Is a director. £1,166 12023.. £1,654) was
owing as al 31 August 2024.
23.
Controlling party
The company Is under the ultimate control of the Board of Trustees with no indlvldual having any greater
control than any other.
Page 29