RISHWORTH RISHWORTH SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Charity registered number: 1115562 Registered Company number: 05855479 (England & Wales)
CONTENTS Legal and Administrative Informati¢)n 24 Annual Report of the Governors 17 Parent Statement of Financlal Artivities 18-19 Consdid•led Statement ol Financial Activilies 21 Paient Balan Sheet Consolidated aalance Sheet Consolidated Cash Flow Slatement 24 Notes form• part of the Finala1 Statements 2542 Independent Audit¢ts' Repc*l 4346
RISHWORTH SCHOOL Legal and Administrative Information Reference and Administralive Inlorniaiion Charity Name Charity Aegistration Number Company Regisrration Number Rishworth School 1115562 05855479 Registered Office and Operational Address Rishworth School Ri5hworth England HX64QA Operational address for Heathfield School Heathfield School Rishworth HX6 4QF Web Address T¥.rishworth-SCho0l.cO.uk Governors The Governing Body con515ts of not fewer than five and not more than twelve members (the Governors). New Governors are co-opted by existing Governor5. The Governors have all served in office throughout the year, except where indicated. Reverend Canon H Barber (Chairl Dr F J Ellam (J'oint Vice Chairl Mrs M Garbett ts'oint Vice Chairl Mrs D M Whitaker Iresigned 1310912023) Mr T M Wheelwright Mr P J Hud50n Ire5igned 0210512023} Mrc Bell Mr B H Moore Mr R Viney Iparent Governor) Iresigned 1610212024) Mr5 E Davies (parent Governor) Rishworth School send our deepest condolences to the family of Mr Philip Hudson who sadly passed away in September 2023. In Memoriam Philip Hudson (1960- 2023) Philip Served as a Governor of Rishworth School from 2017 until shortly before his death from poncreotic cancer in 2023, bringing to the role hi5 profes5ionol expertlse in a wide rt7nge of differentfields. skills which olso sow him serving with distinction in similor role5 on the boords of very lorge orgonisotions. such os NHS Trusts. He hod o long ossociotion with Rishworth School.
RISHWORTH SCHOOL Legal and Administrative Information predoting his Co-option onto the Governing body by decode5.' his wife Julit7 wos a stt71wart of Heothfield Preporotory Schoolformony yeors ondboth of their children ottended both Heothfield und Ri5hworth. As o Governor Philip took the leod in o number of sub-committee5, bringing to bear foren51C finontiol ond leg01 onolysis to greot effect in moving forword initiotives of huge benefit to the School. However, he was the very opposite of grey corporotism, a lover of rock muslc. O moinstoy of rhe five-o-side football scene and with rhe procticed timing of the expert lowyer he wos, veryfunny. Lotterly, he wos besotted by hi5 grondson, one of whose 9iven nomes w05 Bruce (after Springsteen. u mu5iciun Philip greotly odmired)- For ull of these reosons. he will be greatly missed within our community, ond remembered very fondly by oll thot knew him. He 15 survived by his wife Julia ond their two 50n5 Doniel and 017vid. Officers Head Bursar, Clerk to the Governors and Company Secretary DrA Wilkins MA. BA Mrs C Walsh Bankers Lloyds TSB Bank PIC 14116 High Street Huddersfield West Yorkshire HXI 2LE Sollcltors Schofield Sweenev Spfingfield House 76 Wellington Street leeds West Yorkshire LSI 2AY Eaton Smith 14 High Street Huddersfield West Yorkshire HDI 2HA
RISHWORTH SCHOOL Legal and Administrative Information Auditors Spenser Wi150n Ltd Chartered Accountants and Business Advisors Equitable House S5 Pellon Lane Halifax West Yorkshire HXI 5SP Investment Advisors Titan Private Wealth Limited 2 GreenEate Cardale Park Harrogate HG3 IGY
RISHWORTH SCHOOL Annual Report of the Governors Ilncorporating the Directors, Reportl for the Year Ended 315t August 2023 The Governors are pleased to present their Annual Report for the 12 month period ended 31, August 2023, together with the audited financial statements for the year. The Governor5. report contains a group director's report relatinE to the company and the subsidiary. We confirm that the financial statement5 comply with the reqU1MentS of the Charities Act 2011, the Trust Deed, the Charities SORP IFRS 1021 and the Companies Act 21x16. The Governors have complied with the duty in Section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission. including public benefit guidance. l. Accounting Period The Company was incorporated on 22 June 2IX)6. Activity commenced through this Companv on I" August 2006, as explained below. 2. Reference and Administrative Details The School was originally founded in 1724 and registered as a charity with the Charities Commission under a scheme dated 30July 1928 and as amended by subsequent Khemes made on 13 November 1953. 28 August 1968 and 26 July 2(K16. On 31 July 2tKJ6 the expendable assets of the Rishworth School Trust15291611 were transferred to Rishworth School. a company limited by gu8r8ntee (Company Number 058554791 and registered with the Charities Commission under Chority Number 1115562. Under a direction made by the Charitie5 Commi55ion on 26 july 2006, Rishworth School Trust and its remaining associated funds IRi5hworth School Trust, The Stocks Prize, Gaukrodger Scholarship, The Mabel and Oorothy Fielding Scholarship and The Cockcroft and Wadsworth Scholarship) are to be treated as forming part of the Charitable Company for the purposes of Part IV Iregistrationl and Part Vlll laccountingl of the Charitles Act 2011. The Rishworth School Governors. executive officers and principal addresses of the Charitable Company are as listed on pages 2 and 3. Particulars of the Charitable Company's professional advisers are given on pages 3 and 4. Rishworth School Trading Limited1066374651 is a wholly owned subsidiary of Rishworth School Limited 111155621. Their accounts for the 12 month period ended 31 August 2023 are onsolidated into these financial statements. The principal activity of the Company is the provision of sports facilities with the company making a positive contribution to the School's reserves. 3. Structure, Governance and Management Govemlng Document Rishworth School. a company limited by guarantee, is governed by Memorandum and Articles of Association incorporated on 22 June 26 and registered as a Charity on 25 July 2006. Rishworth
RISHWORTH SCHOOL Annual Report of the Governors Ilncorporating the Directors, Report) for tho Year Ended 315t August 2023 3. Structure, Governance and Management Icontinued) Sch¢)ol is the 501e trustee of Rishworth Schcx)l Trust which is governed by its Trust Deed constituted under a revised scheme made in 1928 (amended 1953, 1968 and 20061. Structure of the Schools Rishworth School provides education for pupils between the ages of 3 and 18 years. Pupils aged between 3 and 11 are educated at Heathfield. the Preparatory School to Rishworth School, Ireferred to as "Heathfield'l. Heathfield also incorporates a Nursery for pupils aged between 3 and 4 years. The Senior School Ireferred to as "Rishworth") caters for pupils between the ages of 11 and 18. Goveming Body The Charitable Company is led by a Governing Body whose members are listed on Page 2 of this document. Recruitment ond Training of Governors Our aim is to have and, a5 a vacancy arises. to recruit, responsible people who are actively interested in our Charitable Company and who can give the necessary time commitment5. New Governors are inducted into the workings of the Charitable Company, including board policy and procedures. On-EoinE training is provided through external and internal training course5, through the observation of normal school operations and attendance at school events. Organisotional Monoqement Governors are appointed for a term of three years and are eligible for re-election at the end of that time. The Governors, who set the overall policy for the running of the School, in consultation with the Heèd and Senior Leadership Team, hold board meetings usually four times a year. In addition to the main Governing Body there are sub committees which meet regularly and report to the full Governing Body meetings. The current subcommittee structure 15 as follows.. Education Pastoral Marketing & Admissions Finance & Business Audit & Risk Risk Management The 8oard of Governors holds overall responsibility for management of the risks faced by the School. The Board of Governors appoini executives to which day-to-day management of these risks is delegated. Risks have been identified, and are regularly reviewed through the Sub Committee structure and the Risk Register.
RISHWORTH SCHOOL Annual Report of the Governors (Incorporating the Dlrectors, Reportl for the Year Ended 31$1 August 2023 3. Structure, Governance and Management {Continuedl The key Risk Areas which have been identified and are managed through the risk management proce55 ar Sub Committee level are ès foll0v= Edutation Curriculum Stnjcture Exam Board analysis Progress & Perfof mance Complaints & Concerns SEND Pastoral Complaint5 and Concerns Equal Opportunities Safeguarding Antibullyin Marketing & Admissions Internal Activity - Retention External Activity- Recruitment Rishworth International Football Academy Resourcing Finance & Business Management Accounts Cash Flow Fee Rates Staffing Costs & Other Expenditure Capital Expenditure Audit & Risk Financial Reporting Internal Controls & Risk Management Systems Whistleblowing & Fraud External Audit Reporting Responsibilities The School is fortified with a forward facing view of the turbulence facing the Independent School sector including the political threats. economic and macro influences. We have been working with advisors and our supervisory bodies to ensure the School is best reacting to issues around VAT and inflation as well as any potential reputational risks that may arise from time to time.
RISHWORTH SCHOOL Annual Report of the Governors (Incorporatlng the Dirèctors, Report) for the Year Ended 31st August 2023 3. Structure, Governance and Mana8emenl (Continued) Pay ond Remuneration of Key Monogement Personnel The review and setting of remuneration for key management personnel is undertaken annually by the Governor5. Pay and remurieration is determined by reference to achievement of objectives and independent benchmarking data that is available for the sector. 4. Strateglc Report; Objectives. Activities. Achievements and Performante Objects The objectives of the Charitable Company are to curry on 0 school or college or schools and collegesfor the provision of educotion. The School's object5 fall under the heading"advancement of education" (included within the Charities Act 2011 as part of a list of recognised charitable purposesl- Rishworth is a School for both boarding and day students. set in some 100 acres of exceptional scenery, including a river and waterfall lon the Heathfield Preparatory site), woodland and extensive playing fields on site and off. Most of the day students come from families in the surrounding areas in Yorkshire and Lancashire. with boarding students originating from all corners of the globe, as well as from the UK. The Rishworth International Football Academy. run with support from Manchester City Football Club, has attracted youn8 Sportsmen and women from geographical areas not previously seen. This new programme holds a lot of potential for the future. The combination of the boarding and day students creates a diverse and vibrant educational community. Rishworth works hard to be a fully inclusive school where student5 are nurtured to exceed their expectation5 by provision of a broad and well-rounded education including the flexibility to study a wide range of subjects and participate in an expansive range of extra-curricular activities. Whilst the School is not equipped to deal with complex or severe needs. the is a strong SEN department, which works Wlth the system of pastor31 care to individualise the response to the needs of students acr05S the School. Rishworth is a through-school, taking children from Nursery to post-16 study13-18 years old). The continuity of education combined with small class sizes means that colleagues within the School come to understand every child's character and their rseeds. Thi5 allows for a smooth transition through the stages of the educational system and excellent preparation for f urther vocational training or university. We encourage all students to undertake extension and enrichment activities, of which about one hundred run throughout the year. These range from activities to support academic Subjects 8nd the representative sports teams, through to 'nice' sports such a5 karate. kayaking and skiin
RISHWORTH SCHOOL Annual Report of the Governors {Incorporating the Directors, Report} for the Year Ended 31sI August 2023 4. Strateglc Report: Objertives. Artivities. Achievement5 and Performance (continued) through craft activities such as jewellery making, and eco-projects such a5 the Young Farmers. The School also runs optional GCSE courses through extension activities. including GCSE Astronomy and GCSE Religion and Philosophy. A Rishworthian education aims to develop chararter traits that will serve students throughout their lives. Our core values, which we see as supporting the School motto. Res Non Verba (Deeds Not Words) are Curiosity: seeking new opportunities for leorning ond discovery. Valour- sofeguord our community. environment. ¢7nd volue5. findness- conduct ourselves with dignity. respectfvr oll and humility. Individuality,. be unofroid to show initiotive. to toke a stond ond do the right thing. Our students past and present are testament to this - they are well rounded. productive and successful individuals who excel both inside and outside of the cl355room and go on to achieve amazing things and are contributors to a modern society. Public Benefit Whi15t fulfilling the duty-bound charitable aims and following gijidance from the Charity Commission. Rishworth School demonstrates public benefit in a robust and demonstrable manner thfough day-to-day operations, community outreach, fostering partnerships and supporting local charities and businesses. There is a clear national benefit to be gained from well-educated member5 of Society such as those graduating from Rishworth School. A further, and perhap5 more direct benefit, lies in the savings made to the taxpayer by educating pupils in the independent sector. The number of pupils we educate relieves pressure on local State schools with no claim on the State for the subsidy provided for each place at a maintained school. The money saved by the State can be used acr055 all sectors of Society to universal benefit. Rishworth School complete outreach work in connertion with other charities with fundraising activities throughout the year. Our students choose a charity to support each term. and all fundraising efforts during that term are sent to the chosen Charity. In addition all Rishworth School students have the opportunity to take part in the Duke of Edinburgh awards scheme which includes services to the community, moreover students have a designated time set aside for community projects. Over the course of the academic year this group has supported.. RSPCA - Teddy/Soft Toy appeal for fundraising purposes. Approximatety 500 soft toys collected and delivered to the Fundraising office in Halifax. Litter picking in both Rishworth and Ripponden
RISHWORTH SCHOOL Annual Report of the Governors Ilncorporating the Directors, Report) for tho Year Ended 31Jt August 2023 4. Strategic Report; Objectives, Activities. Achievements and Performance lcontinuedl Ripponden in Bloom - watering the 20 planters around the village of Ripponden. Planted l.C(JO Tete-a-Tete daffodils on Sthool Premises The dementia friendly Riverside Café helped make Chri5tma5 wreath5. provided entertainment with a 'sing-a-long' Christmas carols session, helped serve refreshments Helped collate Winter Care Parcels for the Voluntary and Community Calderdale Group Ithrough VSI Alliance) Helped pack Christma5 Food Hampers with Focus4Hope at Project Colt. Bridgefield Mills. Elland Starlight Charity country Age UK - 8oothtown. Halifax - befriending elderly people. some with dementia. Helping them in craft activities, with quizzes and puizle5. Entertaining them with singing, dancing and music Ifull ierm Jan to March) Woodland Trust- planted 240 hedgerow saplings on a public bridlepath running through school premises Ishaw Lane by the Sports Hall). Organising a Pyjama Day to raise funds for Overgate Hospice making Christmas Bunting for Children's hospital wards around the We also engage with outside speakers and organisations for educational and communal reasons- Rob Moriarty addresses Y9 students on disability awareness Bob Tait runs a whole school workshop day on drugs education We hèd England Rugby League talk to all Y9 students on mental health issues Spokespersons from the RSPCA talked about responsibilities towards animals CPR resources came from British Heart Foundation - an introductory offer that we were lucky enough to access Woodhall Mortgages talk money matters with Y91YIO annually Our facilities are made available in the local community through our lettings program. The swimming pool is currently home to Halifax Swimming Club who faced possible closure when their Council-run swimming pool was permanently closed during the pandemic. In addition local Primary Schools use our facilitie5 to provide their national curriculum swimming lessons. Our Sports Hall is the home of variou5 Sporting clubs and ventures which we gladly support. Our public benefit sporting endeavours do not end with the use of our facilities. our students also play an active role in local 5POrts. Each year students from Rishworth School 6th Form run the Calderdale Tag Rugby Championships for more than 40 local primary schools over two days. With regards to our charitable and community based ventures our endeavour 15 to exceed our obligations as a Charitable Company, moreover ensure our students play an active and meaningful part in our public benefit undertakings which most definitely forms part of our Rishworth Spirit. iio
RISHWORTH SCHOOL Annual Report of the Governors {InGorporatlng the Directors. Report) for the Year Ended 31st August 2023 4. 5tralegic Report; Objectives, Activities, Achievements and performan {continuedl Academic Achievements & Performance Student5 at Rishworth School have once again performed exceptionally, with A-Level grades of C being well above national average, securing students places at university to study subjects ranEinE from Economics and Psychology to Medicine and Accounting and Business ManaEement at Russell Group Universities including York. Manchester and Leeds. In 2023. students taking A-Levels in England attained 75.4% A -c, as against 89% of similar results for Rishworth students. The proportion of top grades awarded between A• and B was almost 15% above national average, which demonstrate5 a consistent trend over the past four years. Our student's success this year ensured the school maintained traditional strengths in Science, Technology. Engineering and Maihernatics ISTEMI subjects. Students obtained 100% A. success in.. Maths, Further Maths, Physics and Computer Science. whilst performing equally well at A* B in Art and Design, and International Languages including-. Spanish. Italian. and Chinese. Those studying BTEC and Vocational qualifications including Sport and Food Science and Nutrition, celebrated 100% achievement, with 96% of grades being within the higher grading boundaries of Distinction. to Merit. Further Success was celebrated by students who achieved their E¥tended Project Qualification IEPQI, with 100% of grades awarded at A'_ B. Nearly 85% of GCSES were achieved at grades 4- 9, well in excess of both national and regional levels. In 2023. students raking GCSES in England attained 67.8% of grades 4 - 9, as against slightly under 85% of similar results for Rishworth students. Noteworthy result5 were recorded in Mathematics and English, in which Rishworth sludents achieved over 20% above national average. Similarly. the traditional strength in STEM subjects was exemplified in grades which were also more than 20% above the national average. Results in Humanities subjerts have been exceptional this year. seeing Rishworth students continue to perform well inArt, Design Technology, French, Food and Nutritionand the Performing Arts, with students attaining ICL)% achievement in the highest possible grading bands in these subjects. In the Higher Project Qualification IHPQI. ItXI% of grades awarded were A.
RISHWORTH SCHOOL Annual Rèport of the Governors (Incorporatlng the Directors. Reportl for the Year Ended 31st August 2023 4. Strategic Report: Objectives. Arti¥•ties. Achievements and Performance {continued) As mentioned above, the enrichment programme also provides opportunities to pursue academic interests. with two students in 2022-2023 attaining GCSES in Astronomy, for example, and other courses available in subjects ranging from Dènce to Latin. The School has significant strengths in music and performing arts, with students able to take Trinitygraded examinations outside of the curricular music lessons and taking full part in a variety of performances, ranging from small 'pop-up' plays in the Performing Arts Centre, such as The Monkey's Paw, Ihrough to large scale musicals, such as the 2023 production of Disney'5 High School Musicol. The choir, orchestra and funk band perform regularly and toured in Paris in 2023. Protection of Vulnerable People at Rishworth School As an educational establishment working with children frorn 3 through to 18. a boarding school and a responsible employer, Rishworth School has a commitment to supportin8 all members of the community to the greatest extent possible. Our Equal Opportunities Policy states= Ri5hworth School is committed to delivering equolity of opportunity through the creotion of on environment in which t711 pupi15 are treoted 05 individu¢715 on the sole basis of their respective merits Gnd abilities. It 15 our expectation that this commitment is shared by children, staff. pt7rents. governors ond all members of the school community. We oppose ollforms of unluwful or unfoir discriminotion on the grounds of roce. colour. notionolity, ethnic origin. gender. moritol stotus. sexuol orientation. age. sociol bockground, trade union membership, disability. politicol views ond religious beliefs. This intent is ir15tantiated in policies and procedures which describe characteristics proteded in law, and characteristic5 which we would 3150 wish to support. such a5 young carers. aiming both to comply with current legislation and to move beyond the confines of that legislation. The School has a DesiBnated Safeguarding Lead IDSLI. with a number of colleagues also trained to be DSLS, working throughout the School. There is a named person with safeguar(linE responsibility for the EYFS, and for the Junior School. Support is recorded on CPOMS Ifor students) and Staffsafe Ifor colleagues).. students have access to the strengths and difficulties questionnaire ISDQI, a short behovioural screening questionnaire for children aged 3 to 16 which points towards support for mental health issues. There is a simil3r questionnaire for parents. The School matron acts as a first point of contact for those with concerns, and a number of colleagues are trained in mental health first aid. 112
RISHWORTH SCHOOL Annual Report of the Governors (lorporatIng the Dlrectors. Reportl for the Year Ended 31$1 August 2023 4. Strategit Report: Objertives. Activities, Achievements and Perfomiance (contlnued) The School SENCO co-ordinates support for students identified with learning differences and for the differently abled. Depending upon need. 5UPPOrt can be provided l..1. in class or in a designated'support Hub,. Support material is shared with appropriate staff through notes on the management system liSAMSI, detailing particular conditions and outlining agreed processes confidentiallv. The School is currently engaged in Equality, Diversity and Inclusion IEDI) training across both sites, working towards certificated recognition in countering racism (Centre for Race, Education and Decoloniality from Lee(Js Beckett University) and raising awareness of inclusion issues generallv. INSET courses have recently had a focus upon EDI and this has been an area of focus for a series of learning walks (lesson observations). An EDI working party has been established, with membership drawn from all working colleagues including finance and other 5UPPOrt Staff. The School maintain5 membership of the Calderdale Safeguarding Board, enabling contact on safeguarding matters and a full range of training opportunities and has ContinLbing Professional Development whith includes online training through TES online, dealing with issues such as harmful sexual behaviours, self-neglect, LGBTQ+ issues for teenagers. raising awareness of conditions such as diabetes and advising on dealing with bereavement. The School also runs a regular Staff Pulse, which tracks issues such as confidence, skills and the level of support provided by senior leadership. Safeguarding training is provided on a regular basi5 using information provided by the local authority. There are assemblies on tOPiC5 such a5 Gay Pride, Black History and World Womens, Day, with all issues of vulnerable children and adults also covered through weekly Personal, Social, Health and Community Education IPSHCEI lessons, which also include material relating to Sex and Relationship Education ISREI. There was a week-long celebration of Gay Pride which focussed upon exemplification of the School's core values. Throughout all parts of the School there is an emphasis upon providing practical Support, very much in line with our School motto, Res Non Verba {Deeds Not Words). Thi5 is supported by reference to the School's aforementioned core value5= Valour. Individuality, Curi05ity and Kindness. In the pastoral sphere, this is exemplified by the division of the School into small tutor groups, wherein a teacher sees a group for registration and form time. enabling the adults to explore issues which are school-wide or specific to individuals. There are Heads of Year who oversee the postoral care of year groups. including organising social events, and they report to a pastoral lead, who is also part of the child protection team. This team works closely with the matronic department. to provide practical support in physical and mental health issues, with additional support from colleagues trained in mental health first aid. In boarding, house parents fulfil the role of being in loco parentis, acting as first points of contact for students, as mentors 113
RISHWORTH SCHOOL Annual Report of the Governors (Incorporating the Diroctors, Report) for the Year Ended 31sI August 2023 4. Strategic Report: Objectives. Artivities. Achievements and Performance {continuedl and conduits with parents and guardians. all under the purview of boarding leads, who work with the matronic department to provide wrap-afound care. Student opinion is gathered through a variety of means- in questionnaires, through academic reporting groups and the School council. The School also recognises a duty of care towards all colleagues, whatever their role. There is a regular gathering of views through Staff Pulse, a programme which asks colleagues to produce answers to a series of questions about well-being and mental health. As a result, the School has been able to introduce policies and procedures designed to support colleagues in encouraging good habits. and simultaneously enabling the School to maintain quantitative records of improvements worked on in reaction to problematic area5. Such Fiolicie5 have intluded a Menopause Policy to alleviate specific areas of concern and use of the gym for fitness. 5. Strategic Report: Financial Review and Results for the Year Going Concern After making appropriate enquiries, the Governing Body has a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. The School has seen an increase in c05t5 through rising rate5 of inflation. The School has taken step5 to counteract these costs through an increase in fees and enforcement of tight cost control. such that the Govemor5 anticipate the School will return to a break even position. For this reason, it continues to adopt the going concern basis in preparing the financial statements. Further detai15 regarding the adoption of the going-concern basis can be found in the Statement of Accounting Policies. The restricted income fund ha5 a surplus of £517.48412022: £SIS.6211. Thi5 increase is as a result of gains on investments. Cash Avallability Cash balances have been c105ely managed to ensure cash availability remains strong. The Investment portfolio with Titan Private Wealth Ltd continues to provide a strategic safeguard of cash availability however we do not anticipate any requirement for this provision in the near future. Key performance indicators and financial report The Governors are pleased to report the year end position for 2022 - 23 shows an improvement on the budgeted position. Oespite this. the impact of inflation on costs and subdued student numbers have resulied in a deficit being reported for the year. Investment is being made to turn this around and bring the School back to a break even position.
RISHWORTH SCHOOL Annual Report of the Governors (Incorporating the Directors, Report) for tho Year Ended 3181 August 2023 5. Strategic Report,. Finantial Review and Results for the Year (continued Recruitment & Marketing The Marketing and Admissions Department continue to work on both short and long term plans regarding recruitment. Numbers in the year were lower than desired but there were positive outcomes with regards to the number of short term boarding students in the summer of 2023 and the RIFA programme. Cohesive relationships have been developed and nurtured both internationally and within the UK with third party agents and consultants to strengthen the recruitment efforts of the team. Efforts have been dedicated to the development and implementation of the Rishworth Internutionol Footl)JllAcodemy IRIFAI which launched in September 2023. RIFA is a partnership between Rishworth School and the Street Work SoccerAcademy. Street Work has a 30-year track record of delivering top quality football coaching programmes in England, and around the globe, enabling and supporting young people of all abilities to fulfil their potential. The truly unique programme combines high quality education with professional f¢)otball toaching programmes at the standard of English Premier League football academies. Fundraising The school does not use any external fundraisers. All fundraising undertaken during the year was monitored by the Governors. Reserves Policy In order to continue to fulfil Rishworth School's charitable objective5. the Governor5 recognise the desirability of cash reserve5 to fund both unforeseen fluctuations in income or outgoings and major development projects. The Governors aim to balance the need for cash reserves against the expenditure required continually to respond to staffing need5 and to upgrade the school premises. many of which are buildings of historic interest. The retention of current pupils and recruitment of future students is dependent on the employment of the best Staff available, attention to the facilities and fabric of the buildings and the creation of new facilities. In order to maintain the necessary balance. it IS the policy of the School to ensure sufficient funds exist to satisfy the requirements above. Currently the reserve5 are lower than required for the School's longer-term tapital-investment plans and our aim 15 to increase reserves once the short-term operational requirements have been 5at15fied. The current target 15 to reach £2million in unrestricted working capital net of long- term liabilities. As a result of sustaining losses in the last few years and a significant105s this year the School is actively focussing on reversing this trend and improving business performance via efficiencies in operating. At the year end. unrestricted reserves. excluding restricted scholarship funds and endowments, were £1,492,58612022.. £1,699,807). This figure is after transfers of £206,49112022.. £4981 to
RISHWORTH SCHOOL Annual Roport of tho Govornors (Incorporating the Directors, Report) for the Year Ended 31st August 2023 5. Strategic Report; Financial Review and Results for the Year Icontinued) unrestricted funds from endowment funds. These transfers relate to return5 that have been generated on the School's invested endowment funds. These returns have been transferred to unrestricted funds to support the School's operations. Inve5trnent Policv The School aims to manage its Cash balances to provide for the day-to-day working capital requirement5 of it5 operations. whilst protecting the real long-term value of any surplu5 cash balances against inflation. The Governing Body have formed an Asset Group whereby Senior Management personnel can work with Governors to realise the full potential of all assets held by the School. 6. Strategic Report: Future Plans Creativity flourishes throughout Rishworth School, gaining us a reputation in our provision of music and the performing arts. We have also established a standing as one of the best schools in the region for sports, with academies and scholarships in rugby. cricket and badminton, with international-5tandard coaching. Programme5 such as the Duke of Edinburgh and the Extended Project Qualifications are components of our wider focu5 on Service, leadership and the building of character which helps Ri5hworthians become well-rounded, productive and 5uccesslul contributors to a modern society. Our future plans include- Strategic business case and re-branding of the Nursery provision. Celebrations of our 300, birthday in 2024. The occasion will be marked by a year of celebrations to incorporate the entire Rishworth community. Introduction of the RIFA program in September 2023 Investment in School infrastructure Strengthening Rishworthian links such a5 the Old Rishworthians, PTA and Friends of Rishworth School Sports associations. Enhancements to our Enrichment and Extension program to offer all students the opportunity to expand their horizons. Development and lavnch of the new sixth form centre. 116
RISHWORTH SCHOOL Annual Report of the Governors {InGorporatlng the Directors, Reportl for the Year Ended 31st August 2023 7. Responsibilities of the Govemors The Governors Iwho are also directors of Rishworth School for the purposes of company law and Trustees for the purposes of Charity Lawl are responsible for preparing the Governors. I Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accolrnting Practice). Company law requires the Governors to prepare financial statements for each financial year. Under company law the Governors must not approve the financial statements unless they are satisfied that they Eive a true and fair view of the state of affairs of the charitable tompany and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the Governors are required to.. select suitable accounting poliaes and apply them consistently,. observe the methods and principles in the Charities SORP,. make judgments and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to anv departures disclosed and explained in the finantial statements- and prepare the accounts on è going concern basis unless it is inappropriate to presume that the charity will continue in business. The Governors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006 . They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a governor at the date of approval of this report confirms that.. so far as they are aware. there is no relevant audit information of which the charitable company s auditors are unaware: and they have taken all the steps that we ought to have taken in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. Approved and authofised by the Board of Governors on 29 May 2024 and sne on its behalf by.. Or F J Ellam
RISHWORTH SCHOOL Charitable Company Statement of Financial Activities lincludinE Income & Expenditure Account) for the Year Ended 31 August 2023 f4otes Unrestrirted Funds Scha Rtstricted Funds Total for Year to 31 Aug 2023 Funds INCOME ANO ENDOWMENTS FROIA Domtions and @adeS Charfiable activities: Fees feceivable Other education31 incon Other ancillary In¢ome 5.081.898 10.350 375.764 SO,057 5.131,955 10,350 a75,764 In¥estmeThts 16.746 8,961 25,707 Earned from other arti¥itie5 aank and other Interest Donation from subsidiary Totsl inromin8 resour(es 7.772 102.338 5,578.122 7,772 102,338 5.653.8 16.746 59.018 RESOURCES EXPENDED Raing1urtd$ Investment mana8emep)t 7.5?0 4.1 11.651 Charltable actl¥ities Teaching costs Welfare Premises Grants and 5cholar5hips Administration and wpport Totsl resources expended 3.392.%7 563,146 860.662 50,057 3.443.024 563,146 860,662 8,560 1.175.059 6.062.102 1.175,059 5,991.834 718 7.570 62.698 NET IPICOME I IEXPENDITUREI 8EFORE TRANSFERS 1413.7121 9.176 13.6801 1408.2161 Tiansfers between funds 206.491 1206.4911 NEfopÉAATING SURPLLIS I IDEFicirJ 1207.2211 1197.3151 13.6801 14IOB.2161 Net Gains /1105sesl on in¥estments io 111.5911 5,543 16.0481 N¢1 Irtro I l¢xpÈndlturel 1207.2211 1208.9061 1,863 14142641 Reconclllatlon of funds Tot31 funds brought lorward 1.699.807 1.111.152 515,621 3.326.580 TOTAL FUPIOS CARRIED FORWARO 1.492,586 )2.246 517.484 2,912.316 The statement of financial activities includes all gains and1055e5 in the year. All incoming resources derive from continuing activities. 118
RISHWORTH SCHOOL Charitable Company Statement of Financial Activities {including Income & st Expenditure Account) for the Year Ended 31 August 2023 (Comparative Figures for the Year Ended 31" August 2022) N4ttes Unrestricted Enth)wed fte5trirt*d Funds Funds Fund5 5th001 Total for Year to 31 Aug 2022 INCOME AND ENDOWMENTS FROM Qonations and lepties Charitablt •ctivitie5 Fee5 reieivable OlhÈr Èducational irsco Other ancillary income 4.848,581 48.531 4.897.IlZ 7.800 322.043 J22.043 In¥e#ments 16.539 6.864 23.403 Earned from other artivities Bank and other Interest Donation from sUbsl8ry Total incoming ve50urces 127 IWl.528 5,279.079 IZ7 IM,$28 5.356,013 16,539 60.395 RÉSOURCES EXPE140EO AalslnK lunds Investment rnana8ement 6.379 3.447 9.826 Ch•rii•ble ¥tlvfties Teaching costs Welfare Prerni5e5 Grants and scholarships Administration and 5UPPOrt Total resources expended 3,119.085 536.S21 865.843 48.531 3.167.616 536.521 870.843 29.309 979,$54 S,S93,669 5.Q)O 29.309 979.554 5,501.003 718 6.379 86.287 NET INCOME I IEXPENoffuREI BEFOIE TRANSFERS 1221,924 10,160 125.8921 IZ37,6561 Transfers between lunds 149BI NETOPERATING SURKUSI 1DEFn 1221,41261 125,8921 1237.6561 Net Galns I Ilossesj on in¥estment5 io 198.2391 155.4161 1153.6551 Net Income I leMpendi¢urel 1221.4261 188.5771 181,3081 1391,3111 Re¢on¢ilialion of Total funds broughi forward 1.921.233 1.199.729 5%.929 3.717.891 TOTAL FUNDS CARRIED FORWARD 1.699.807 1.111.152 515.621 3,3Z6.580 The statement of financial activities includes all gains and losses in the year. All incomin8 resources derive from continuing activities.
RISHWORTH SCHOOL Consolidated Statement of Financial Artivities (including Income & Expenditure st Account) for the Year Ended 31 August 2023 UnmtrKted Fund5 Endowed Funds SrhD Rtricted Funds Total lor Yeario 31 2013 INCOME AND ENOOWMEMTS FROM Donation5 and le8acies Ch¥rit¥ble artl¥fjfies Fee5 receivable Other tducational inciKne Other ancillary mcome 5.081.898 10.350 375,764 50,057 5.131.955 10.350 375.764 Investrnents 16,746 8,961 25.707 Earned Irom other acti¥ryt Bank and other inierest Trading Income Trtal incom% rtsourtts 8.130 103.426 5.579568 8.130 103.426 5,655,332 16,746 59,018 RESOURCES EXPENDEO Q5t ol Ratslni funds Investmenl rnana8ement Tradin8 le8al and professional fees 7.570 4.¢1 11,6SI 1,146 ChavitablE attltIeS Teaching c05t5 Welfare Pretni5ts Granis and schdarships Adminisiraiion and sUPWrt Total rerC*S t¥4bÈthded 3,392,967 563,146 860,662 50.057 3N43,024 563.146 860.662 8.560 1,175.059 6,063.548 8.560 1.175.059 5,993,280 718 7.570 62,698 NET INCOME IIEXPENDMIREI BEFORE TRANSFERS 1413.7121 9.176 13.6801 1408.2161 Tian5fer5 between fund5 206,491 I21,491} NET OPERATING SURPLUS1 IDEFICITI 1207.2211 1197,3151 13.6801 1408.1161 Nei Gaknsl Ilossesl on kn¥esiments io 111,5911 5.543 16MI N¢t Incwbe I ItxpEnditurtl 1207.2211 I208,} 1.863 1414,2641 Ren(lation of lund5 Total Fund5 brought lorwaw¢J I.W.807 1.111,152 SIS.621 3J26,580 TOTAI Fuf4D5fARRIED FQRWARD 1.492.586 902,246 517,4184 2,912,316 The statement of finarKial livItIeS includes all gains 3nd1055e5 in the year. All incoming resour5 derive from continuing actiwties. 120
RISHWORTH SCHOOL Consolidated Statement of Financial Artivities lincluding Income & Expenditure Account) for the Year Ended 31" August 2023 (Comparative Figures for the Year Ended 31" August 2022) rotalfor Year to 31 Aug Z021 Fund5 Fyhds INCOME AND ENDOWMEFITS FROM Donations and lezacies haritable activlties Fees receiwabl Other educational irfL¥ne Othtr ancillary 4.848.$81 48.531 4097,112 322.Lh13 3213 Investments 16.539 23.403 E¥med from ffjhev arti¥it 8ank ar other iDrerest Tradingncome Total IncomknB tS 141 101.894 5.280.459 141 101.894 S.J57.393 16,539 60.395 RESOURCES EXPENDED Costaf hmd5 Investment management Tradinglegal and pl0fe5sJnal fee5 6,379 3.447 926 1.380 Ch*r4tsble atllvltles Teachin8 C0515 Welfare Piemises Grants and s¢holarsh4PS Athninistiation and silPPOrt Total resourtys oxpondRd 3.119.085 536.S21 865.843 48.531 3.167.616 536,5ZI 870,843 29,309 979.S54 5.59S.049 29,309 979.554 5.502.383 6.379 86,287 NET INCOME I IEMPENDITUREI eÈFORE TRANSFER5 1221.9241 iO.IfA) 125,8921 I237,61 Transfer5 between fund5 14981 NET OPERATING YJRPLV51 IDEFicin 1221,4261 9.662 (Z592> 121Y.6561 Net Gaknslllossesl on MWRStmofits io 198.2391 155.4161 1153,6551 Net Inclyne I lewNlit¥r•l 1221.4261 18&577 181,3081 1391.3111 Reconciliation of funds ToLal Fund5 brou8hl forward 1.921,233 1.199.729 596.929 3.717.891 TOTALFUNOSCARRIED FOAWAAD 1.699.807 1.111.152 515,621 3,326.580 The statement of financial activities includes all gains and losses in the yeaf. All incoming resources derive Irom continuin8 activitS. i li
RISHWORTH SCHOOL Company Number: 05855479 Charitable Company Balance Sheet as at 31 August 2023 st 31Au 1023 31 Au8usI 2022 FIXED ASSETS Tangible a55ets Investments li 12 2.291.013 1.354,260 3.645,273 2,496.189 1.362.175 3.858.364 CURRENT ASSETS Debiors and accrued income Cash at barnk and in hand 13 315.637 6(.678 916315 282,682 1,161,053 1,443.735 IIABILITIES Credilois due within one year 14 11.191.59ZI 11,596,4741 NETCURRENT A55ETSIIiIA8IiITIESI 1375.1771 1152.7391 TOTALASSETS LESS cRENT11A8lLfflES 3.269,996 3,705.625 CREDITORS C*Je after more than one year 14 1357.6801 1379.0451 TOTAL NET ASSÉTS 2.91Z316 3,326.580 THE FUNDSOF THE CHARITY Vnre5tricted funds Endowment funds Restricted income funds TOTAL FUNDS 1.492.586 l.Z46 517,484 191Z,316 1.699.807 1,111,152 51S,621 3,326,580 16117 Authorised and approved by the Board of Governors on 29 May 2024 and signed on bèhalf of the Board bv-. Dr FJ Ellam
RISHWORTH SCHOOL Company Number: 05855479 Consolidated Balance Sheet as at 31" August 2023 Pdutes 11 August 2023 31 Au8USt 2022 FIXED ASSETS Tangible a55ets Invp5tmÈnts 2.291.013 1.354.259 3.645271 2,496.189 1.362.174 3.858.363 12 CURRENT ASSETS DÈbtors and atciued Income Cash at bankand in hand 13 221037 695.718 917.755 183.IS4 1,261,962 1.445.116 lIAuTIEs Creditor5 due within one year 14 I[2931) 11.597.854> NET CURRENT ASSET5IIiIABIUTIE51 1375.2761 1152.7381 TOTALASSETS LESS CURRENT UAblLITES 3.169.996 3.705.625 CREfMTORS Due after more than year 14 1357,6801 1379.0451 TOTAL NET ASSETS 2.912.316 3.326.580 THE FUNDS OF THE CHARITY Unrestricted fund5 Éndowfflent funds Restricted Income funds TOTAL FUNOS 1.492.586 902.246 517.484 2.912.316 I.&J9,807 1,111.152 515.621 3,326.580 16117 Authorised and approved by the Board of Governors on 29 May 2024 and signed on behall of the Board by.. Dr F J Ellam
RISHWORTH SCHOOL Consolidated Cash Flow Statement for the Year Ended 31" August 2023 Year ended 31 August 2023 Year ended 31 Au8USt 2022 NET CASH INFLOW FROM OPERATING ACnVlnES 20 1610.6081 SI0,E$ REfuRNS ON INVESTMENT5 AND 5ERviaNG Of FINANCÉ Investment income Interest rec*vable 25,707 8,130 23,403 141 NÉT CASbl INFLOW FAOM AETURNSON INVESTMENTS AND SERVICING OF FINAfr4CE 33.837 23.544 CAPITAL EXPENDITURE AND FINANaAL INVESTMENTS Purchase of tanRible fixed asset5 Purchase of Investments Proceeds from sale ol limed assets Proceeds from sale of investments 157.8341 1375,7801 20,750 379,372 11.223.8651 18.9ty) 1215.492 NETCASH OUTFLOW FROM INVESTK4G ACTIVITIES INCREASE / IOECREASEI IN CASH AND CASH EQUIVALEPITS 10.527 133.4921 21 1566,2441 5rM).657
RISHWORTH SCHOOL Notes to the Con501idated Financial Statements for the Year Ended 31" August 2023 General Information The charitable company 15 4 public benefit entity and a private company limrted by guarantee. registered in England and Wales a registered charity in England and Wales. The atldress of the registered office Is Ri5hworth School, Rishworth. HX6 40A l. Accountin8 Poli<ies Basi5 of Accounting The financial statements are prepared on historical cost con¥enlion eXp1 ihat: Land and buildinES are included at their 1934 valuation. adjusted by the cost of additions and disposals since that date. This valuation has been athpted as the historlcal cost under the transitK)nal PTovisions of the Financial Reporting Standard 102. Where property owned before 1934 has been sohj. the cost is assumed to be immalerial and the entire proceeds credrf(ed to the Foundation'5 capital account. Investments are included at market value a5 at 31 August 2023. The financial statements have been prepared in sterlbn& which is the functional currency of the entity. The financial slatements are prepared in accordance with applicable accounting standards.. Financial Reporting Standard 102, The Charities Statement of Recommended PractKe IFRS1021, the Companies Act 20)6 and the Charrtiès Art 2011. In accordance with the requirements of ihe Statement of Recommended Prartice the School's scholarship funds are tncorpor3ted intothe Statement of Financial Activrties and the Balance Sheet as restricted funds. The opening fund balances and reserve5 of the School are classrfied according to the 3sset5 held for each purpose as follows.. Endowment funds Pfoperties forming part of the original endowment together with investments purchased out of endowment capital. Endowment funds are funds, the capital ol which must be maintained.. only income arising fiom investments of the endowmenl may be used as unrestricted funds, depènding upon the purpose for which the endowment was established. Investments and monies donated for scholarships and priLes. to the extent that they have not already been distributed for their intended purpose. Accumulated surpluse5. principally represented by the property, equipment and working capital of the School. Resiricted funtls Unrestricted fursds Going ¢on¢em The business activities of the School and the major risks it faces are set out in the Governors, Report on pages 5 to 17. The primary risk faced by school recently has been a gradual reduction in the level of reserves. The Governors understand the importance of rebuilding the Schoovs reserves and the School is making a variety of changes to addre55 this. 125
RISHWORTH SCHOOL st Notes to the Consolidated Financial Statements for the Year Ended 31 August 2023 The School is relavnching its Nucsery and from September 2024 it will be open 50 weeks per year and acceptlng 30 hours of earlv years funding. The School is working alongside Calderdale Council on this relaunch to promote the accessibilily to all. The fee structures foc families making use of the Nur5erv provision are marketed and available on the website. The Nursery will make available 30 hour5 of Government funded edvcation and care and fees will reflect a very flex+ble approach which allows families to choose morning or afternoon session5 lor l)othl. lunches and weeks of attendance_ The School introduced the Ri5hworth International Footb311 Academy in September 2023 on a 50fi launch basis. This is seeing growth with at least 10 confirmed places for the next financial year. The School ha5 relaunched the Sixth Foim. which will be hjlly implemented by September 2024 and will encourage current pupi15 to remain at the School for two further years through S*xth Foim. The School is taking steps to mitigate the 5% increase in employer contributions on the TeachÈrs' Pens Scheme. The forecast for the 2023- 24 financial year shows a deficit of £750.tJXJ but the Governors are Confident that with ihe changes being imp5emented ihe School will return to surpluses. The budget for 2024- 25 shows 3 deficit of £269.282. The governors have also safeguarded ihe cashflow w)sitK)n through an easy access arrangement with Titan Private Wealth Ltd (the School'5 investments managers?. Although there are plans to release funds from our investment portfolio, together with the cash balances held, this should ensure that sufficient fund5 are available to cover ihe cash impact of the forecast deficbts unthl at least the end of 2024 - 25. The Governors therefore believe that the School will continue tts business activities for the foreseeable future. that no material uncertainties exist and that the going concern basis of pparatiOn is considered appropriate. Revenue re¢o8niliM, Fees and Slmilar Income Fees receivable and charges for services and for the use of premises are accounted for in the year in which the seNice is provided. Fees receivable are staled after deducting allowances. scholarships and bursaries awarded by the School. Scholarship5 are provided in the same year as the service. Where Scholarships are provided by restricted scholarship funds the fee incomè is shown gross in the School's accounts and the scholarships are shown as a deduction from the fund account. Fees recewed in advance of education, 10 be provided in future years, are held a5 liabilities until either taken to income in the term when used or else refunded. Resources Empended and support cost apportionment to activity Resources expended are accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to parlicular headings. they have been allocated to actNitiÈs on a basis consistent with the use of the resources. Costs 126
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 in relation to operating leases are charged to the income and expenditure account on a straight line basis over the lease teim. Governance costs comprise ihe c05t5 of Ivnnin8 the charity. including strategic planning for its future development. audit and legal advice for the Governors and all other costs of omplying with constitutional and statutory requirements. Governance costs include audit fees and an allowance for the costs of support Staft seNing governois. MeetiS. Value Added Tax Any Irrecoverable VAT is charged to the Statement of Financial ActNlties or, capitalised as part of the cost of the related a55et, as is appropriate. Don*i¢ns Donations are credited to revenue on a receivable basis. Donations receivable for the general purposes of Ihe charity are credited to unrestricted funds. t)onations foi purposes restricted by the wishes of the donor are taken into restricted funds where these wishes are legally "ndIng on the Governors. Pension Schemes Retirement benefits to teachers at the School are provided by the Teachers. Pension Scheme ITPSI. This is a defined benefit scheme. This scheme is a multi-employer pension stheme and it is not possible to identify the assets and liabilities of the scheme, which 15 accounted for a5 a defined contribution scheme. Non-teaching staff are automatical enrolled on the NEST pension 5(heme. This is a defined contribution scheme. The TPS is an unfunded scheme and tontributions are calculated so as to spread the c05t of nsiOnS over employees, working lives with the khool in such a way that the pension cost is a substantially level percentage of curreni and futu pensionable payroll. The contributions are deiermined by the Government Actuary on the basis of valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign between employer5. Consequently. the TPS is treated as a defined contribution scheme for accountir)g purwse5 the contributions recogni5ed in the period to which they relate. Tangible Fixed Assets Except as noted in the Basis of Accountrn& tangible assets are initialty recorded at cost, and svbsequentlv Stated at tost less any accumulated depreciation and impairment1055es. Depreciation is provided at the following rates-. Freehold buildin85 Pioperty lmprovementslfUrbIshMenI Furniture and equipment 1%- 2% of cost 6%- 15% of cost 10%- 25% of cost Computer equipment 15%- 2S% of cost The Governors believe ihe total net realisable value of fixed assets lo be in eycess of the iarrying value at 31 August 2023. They believe the freehold buildings to have an estimated useful life in excess of IOOyears. 127
RISHWORTH SCHOOL 5t Notes to the Consolidated Financial Statements for the Year Ended 31 August 2023 A valuation was carried out in 2018 which accorded an estimated value of £40.4¢K).cxxJ for insurance purposes. The indexed sum insured is £49.250,(XX) for insurance purposes. Foundation property, which comprises land and listed buildings, is not depreciaied,. any depceciation chargeable would not be material. Irbvestmenis Investments are valued in the Balance Sheet ai their closing market value at the Balance Sheet dale. Realised and unrealised changes in the market value of investments are dealt with in the Statetnent of Financial Activitbe5. Investment income 15 accounted for in the year in which the Charity 15 entitled to receipt. Investment income management costs are charged as expenditure out of relevant funds. Recognitlon of ¢dIto and liabilities Liabilities are recognised when an obligation arises to transfer economit benefits as a result of past transactions or events. Basis of consolidation These financial statements consolidate the results of the charity and its wholly owned Subsidiary undertakin8 drawn up to 31 Augy5t 2023. The consolidation is carried out on a line-by-line basis. Inter-company transactions. balances and unrealised gains on transactions between the company and rts subsidiary a eliminated in full. Accounting policies of the Subsidiary have been chan8ed where necessary to ensure consistency with the policies adopted by the group. Flnancial Instruments The khool only holds basic financial instruments as defined in FRS 102. The financial assets and financi31 liabilities of the sch1 and their measurement basis are as follows.. Financial assets trade and other debtors are basic financial instruments and are debt Instruments measured at amortised c05t. ppaYments are not financial instruments. Fixed asset investments are measured at fair value. Cash at bank- is classified as a basic financial instrument and is measured at face value. trade creditors. accruals and other creditors are financial instruments. and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definitTron. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there 15 an obligation to deliver services rather than cash or another financial instrument. 128
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 Judgements and key sources ol estirnalioTh uncertaiiity The preparation of the financial statements require5 management to make judgements. estimale5 and assumptions that affect the amount5 reported. These estimates and judgements are continuallv reviewed and are based on experience and other factors. including expectations of future events ihat are believed to be reasonable under the circumstances. There are not considered to be any key judgments or estimales. 2. Donations aThl Le8acie5 Year to 31Aug 2023 Year to 31 Au8 2012 Donations 3. Fee5 Receivable YÈarto 31 Aue 1021 Vearto 31 Ayi 2022 5(hool Fee income cgmpri5e5: Gross Fees Le$5.' Total bursarries. grants 3ThJ 3lknVares Add bark.. S£hts1arships, 8r*)ts eic. paNI for by restricted fund5 5.976,381 1852.9871 5.894,413 11.026.610) 29.309 5.131.955 4,897.112 Included within fee income is £50,05712022.. £48.S311 of Ear Years Education Funding including £420 12022.. £4241 Deprivation Supplement and £32712022.. £2.5471 Quality Supplement that is classified as restricted income. All ol this restricted income was spent on qualifyin8 restricted expenses in the period. 4. Other Educaiional Income Year to 31 2023 Y¢4T 10 31 2022 Other ¢durailor1 Intome Entrance and re81strati( lees 10.350 10.350 129
RISHWORTH SCHOOL st Notes to the Consolidated Financial Statements for the Year Ended 31 August 2023 5. Ancillary In¢ome YeartL¥ 31 2023 Yearto 31 AUB 2022 Property income Student deposits Short stay boarding Other income Gain on disposal ol fixed assets 84,320 108.275 89,447 36,051 3,950 322.043 154.?02 160.236 39236 18.900 375.764 6. Investments Ywto 3IA42023 Year to 31 Au6 2022 Listed inve5trnent5 Comrnon investment funds 23.035 2.672 2S,707 18.137 5.266 23,403 Investment Income comprises of income from investment units held in the UK and the listed investmen15 are quoted on the London Stock Exchange.
RISHWORTH SCHOOL st Notes to the Consolidated Financial Statements for the Year Ended 31 August 2023 7. Total Resources Expended PARENT Depreciatlon Ye* to 31A¥2013 Charitable artivltles Teèching costs Welfare Premises Administration ol ihe scho 3,160,738 353,788 222,5 582,453 263.259 209,358 451.918 s92.7 19.027 3,443.024 563.146 S6062 1.175.059 186.149 Cost5 of 5¢hoolinE 4.319.573 1.517.142 205.176 6,041.891 Gr3nt5. awards and prites 8.560 C05t of Raising lunds Investment management Totsl resourtes expended 11.651 1,537,35J IL651 6.061102 4319.$73 205.176 CONSOLIDATION Staff costs Oepreclation Ye¥t¢ JI Au8 2013 Charithble artitIeS Teachin8 cosrs Welfare Prefflises Adrninistrati¢)n of the stho 3.160,738 353,788 222.595 582.452 263.2S9 209.358 451.918 592.fQ7 19.027 3.443.024 563,146 860,662 1,175.059 186.149 Costs of schooling 4.319.573 1.517.142 205.176 6,04191 Grants, awards and prizes 8,560 C05t ol Rai5ingluhd5 Investmenl mana8ernent Trading c05t5 Total resources expended 11,651 1.446 1538.799 11,651 4.319.573 205.176 6.063.548
RISHWORTH SCHOOL Notes to the Con501idated Financial Statements for the Year Ended 31 August 2023 PARENT Staff tosts Oepre¢lation Yeario 31 A4 2022 Charitable artvJitrS Teachir¥ costs Wellare Prerni5es Adrnin15tration of thÈ h0o1 2.907,226 339,911 188,876 527.119 226,S(K) 1%.610 443,441 452.43S 33,B9J 3.167.616 536.521 s703 979554 238,526 C¢sti ot sthoollng 3,963.132 1.318.986 272.416 5,554,534 Grants, awards and prizes 29.31 29309 Cost of Ralsln8funds Inve5trnenr management Total resources txpendtd 9,826 1358,121 9.826 5.593.669 3.963.132 172.416 CONSOUDAnoN Depreciation V*r tt+ 31A42022 Charitable 4rtl¥fjtits Teachin8 Costs Well3re Premises Administiation of the school 2.9)7.226 339.911 188.876 527.119 226.SLXI 196.610 443,441 452.435 33.89) 3,167,616 536.521 870,843 979,554 238.526 Costs olxhoolinl 3.963.132 1.318.986 272.416 5.554534 Granls. award5 afKI pri5 29.309 29.309 Cost of Raising funds InvÈ5tment mènagement Trading Costs To¢al reswrce5 empehded 9.826 1,380 1.359.501 926 3.963.132 272.416 5.595.049
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 8. Total Resources Expended IldeS the Following Items Parent Year to 31 Aug 2022 Consolidated Year to 31 Aug 2022 Year to 31 AUE Z023 Ytir ttr 31 Au¥ 2023 Charitable arti¥ity *XPtnditure includes= Premises repairs DepretiatM)n 139.759 205,176 133.659 274.517 139.759 105.176 133.659 2?4.SL7 Governance empendhure include&. Auditors, remuneration for-. Staiutory èudit 6overn¢xs' liability Insurance 6.930 5A71 6,930 S,471 4.870 4.870 Total staff costs cwnprisinl Wages and salaries Social securitv C05t5 Pensiorb contributn5 T•1 staff tosts 3.50L562 336.788 481.123 4.319,sn 3,208.417 310.749 443.966 3.963,132 3.SOI.562 336.788 481.223 4.319.573 3.208.417 310.749 443.966 3,963,132 The average number of employees was 11212022.. 114} of whom 5112022= 51) weve teaching staff. The number ofempbyeeswhose emoluments (excluding pension contributions) exceeded £60.CI)O in the accoLtnting period was-. Yearto 3IAw 2023 Year ¢0 31 Au8 2022 É80.CQ). E90. É60,IYJ)- E70.r The numberof employees whose emolumentsexceeded £60.C(M)and who were accruin8 pension benefits under the two schemes were.. Yearto 31 AUK 2023 Year to 31 Aue 2022 Teachers. pension scheff 35,25B 35258 33.874 33.874 The total value of key management personnel compensation during the year was £191,567 12022.. £188,877). Key management personnel comprise senior management staff as noted on page three.
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 9. Transfer Between Funds Yearto 31 Au¢ 2023 Year to 31 AVE 2022 Income released from eTrdowed funds Historital release Loan repla<etnent fund 16,908 199.245 19.6621 106.491 iO.J60 19.662 498 By an order dated 6 January 1992 the Charity Commissioners agreed that the SCI01 could expend up to £410,517 from the permanent endowment of the Charity towards development works at Heathfield. This sum resulted from the Sa of various surplus foundation propertie5 and is to be replaced out of the income of the Charity in 60equal instalments of £6,842. The sums so set aside are to be held and invested as permanent endowment of the Charity. By a further order d3ted 19 july 1999. the Charity Commissioners agreed that the School could expend up to £141,0 from the permanent endowment of the Charity towards the creation of a Performing Arts Centre. This Sum is to replaced out of the income of the Charity in 50 equal instalments of £2.820. The sum5 $0 Set aside are to be held and invested as a permanent endowment for the Charity. The historical release relate5 to returns that have been generated on the School's invested endowment fund5 over a number of years. These returns have been transferred to unrestricted funds to support the School's operatiortrs. 10. 14et Galns l (Losses) on Investments Year to JIA 2013 Year to 31 Atsg 2022 Realised Unrealised 1181.1081 16,0481 1193,?541 1153.6551 134
R15HWORTH SCHOOL st Notes to the Consolidated Financial Statements for the Year Ended 31 August 2023 11. Tan8lble Fixed Assets (pant & Consolidated) FehOld foundation Freehold 5thool ljuildin PFO Toveme Fumitur Com uler Total Cost At I" Au8USI 2022 Additions Oisposals As at ai¥1 Aust 2023 20.9S6 2.316.694 4.721.716 l.fP31,937 1,407.595 9.558.898 156,0271 1.351.568 156.0271 9.502.871 20.956 2,316,694 4.721,716 1.091.937 D¢prKi4ti At I" August 2022 Char8e for the year Eliminated on disposa55 As at 31° A$t 2023 6S).iSO 23.167 3.997,401 151.654 1.023.248 11.328 1.381.910 19,027 156,0271 1,344,910 7.1%2.709 205.176 156,0271 7,211.858 683.317 4,149,095 1.034.576 Net Book Valu¢ A5 at 31"Au8ust 1023 20.956 1.633377 5n.66X 57,361 6.658 2.291.0 As at 31" Augusi 2022 20.956 1.656.544 724.315 68.689 25.685 2,496.189 12. Investments unstr•e Re5trirted Totsl Balance a5 at Sepilltr 2022 Addition5 Disposals at Dpening market value Change in mèrket value Increaselloecreasel in cash Balan¢e as 31tt Aulust 2023 471.105 437,442 1428.3661 5.543 112.75S 472.969 891,069 786.423 1787.1261 111.5911 2,915 881.290 1,361175 1.223.865 11.21S.492 16.0481 110,2401 1,354,260 Comprlslng= Investrnent in subsidiary Listed Investrnents Common inve5trnenl funds Cash awaitlllg investTnent5 467.187 837,055 1.304.242 5.782 472.969 44,235 881,290 50017 1,354.260 All above inve5tment5 are held in the UK and are hekl as nominee by Titan Private Wealth Limited Iformerly Cardale Asset Management Limitedl. All investments are held primarily to provide an investment return for the charity and to fund scholarships and bursaries. The folbwin8 irhve5tment5 were worth more ihan 5% of the portfolio value at 31st August 2023.. None 12022.. COIF Charity Funds- 9,738.89 units £187.4351. 135
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 Subsidiary undertakkn8: Rishworth School owns I[ of the issued shave capital of Ri5hworth School Trading Limited (Company no. 066374651. a company Iimiled by shares. The subsidiary's main trading attivity is the letting of facilities owned by Rishworth School. At 31" Augusl 2023 the subsidiary had current assets of £103,77912022.. £101,909) and current liabilities of E102,33812022= £101,908). The results of the tradin8 subsidiary a included in the consolidated result5 on pa8e5 20, 21. 23 and 24. The principal address of the trading subsidiary is the same as Rishworth School as detailed ai page 2. The company traded as follows: Year to 31 Auwst 20Z3 Year to 31 Aueu5t 2022 Turnover Administration Costs Interest receivable Covenanted donation to Rish¥¥orth sch( for Year 103AZ6 11,4461 358 1102.3381 101,894 11,3801 14 IlQJ,528 13. Debtors and acuued income Parent 31 AUE 2022 Con501Nl•ted 31 Aug 2022 31 AL¥ JIA 2013 Fees Other debtors Rishworth Schod Trading Ltd Prepaytnent5 and a¢¢rued in(ome 80.145 30.270 102338 102.884 315.637 95.835 80.145 95,835 7.840 IW.528 79.479 282.682 102,884 222,037 79.479 183,154 14. Creditors Parent 31 AUE 2022 Con501idated 31 Aug 2022 Ji AUE 1023 JIA 2013 Amounts lallinz within one year Fee5 In advance Inote 151 Trade creditors Taxation and sotial wufity Final term deposits Acc¥ua15 and dEferred incorne 726.898 178.809 81947 226.610 76.328 1.291.592 1,169,887 165.885 77.591 135.243 47.867 1.596.474 726.898 178.809 82,947 2Z6.610 77.767 1.293.031 1,169.887 165.885 77,592 135.243 49.247 1.597.854 Amounts lallln8 aftei rnore than one year Fee5 received ITr advance Inote 151 Final term deposits 25,0 a32,6KI 357.610 25.IXYI 332.680 357.680 3?9.045 379,04S 379.045 379,045
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 Flnal terni deposlts: Fee5 in advance, include fees pa full for the followin8 academbc year and future charge5. Final term dep051t5 are paid when a pupil re8151er5 10 join the Sch1 and are hehj until the puptl's last term when they are released against fees and other charges. 15. Fees Re¢el¥ed in Advance 31 Aui 2013 31 Au8 2022 Within I year Within I to 2 years Within 2 to 5 years 7260 25.( 1.116.663 30.193 23,031 751.898 1,169,887 31 Aue 31 Au8 2022 Balance ai start of yÈaT Arnount released to incorne 1.169.887 IL116.6631 698,674 788.718 1703.4211 1.084,590 Amouni deferred in ihe year Balance at of ye 751 1.169.887 These amounts are expected to be leaSed in the periods as shown atfftie.
RISHWORTH SCHOOL st Notes to the Consolidated Financial Statements for the Year Ended 31 August 2023 16. Analysis of Charitable Funds Unroslri¢t•dfund5 01109n021 E¥penditwe Trartsler Ga1(1055eS> 3110812023 General funds 1.699.807 5.578.122 15.991,8341 2[.49] 1,492,586 1.699.807 5.578.122 15.991.834) 2(*.491 1,492,586 oVOg120Zi Inton Expefftdle Transfer Gainsllknssesl 3110812022 General funds 1.921.233 5.279.079 15.501.(K131 498 1.699,807 1.921.233 5.279.079 15.501.(M)31 498 1.699,807 Endowmentfunds 0110911021 Expendhure Tlansfer Galnslllo5se5l 311081202a Endowrnent lund5 1.111.152 16.746 17.5701 I21.491) 111.591 )2.246 1.111,152 16.746 17.5701 I2(.491> 111.5911 9D2,246 0110912011 Trartsler Galnslllossesl 3i1oBI2012 Endowrnent fund5 1.199.729 16.539 16.3791 14981 198.2391 1.111.152 1.199.729 16.539 16.3791 14981 198,239 1.111,152 Endowment funds relate to the following: Foundation property- £20.956 Investments held by Titan PrNate Wealth Limited- E881,29) Restrftted funds 138
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 0110912011 Intome ExpeThllre Transfer Gainslllossesl 3110812023 Cardale Gaukrodger C3rdale Fieldin8 Cardale Cockcroft Gaukrodger 2.049 103 13371 7.916 12.0361 1,703 145.188 326,077 649 31,602 11.949 316 138,656 330.40) 2.7S9 6.099 14.1431 18.3861 649 31.602 11.949 316 Greenwood Cackc¥oft E¥rty Yeor5 Funding 50.057 150.0571 515.621 59,018 162,6981 5.543 517.484 0110912021 In Expenditur Transfer Gainslllosse51 3110812021 CardalE Gaukrod8er CardalÈ FiÈldin8 Cardale Cockcroft 2.468 153,772 373,127 649 31.598 11.948 316 23 14081 114,2941 140,7141 2,049 138.656 330.400 649 2.023 4,818 2.845 6.831 Gaukrodger 31,602 11,949 316 Greenwood CDtkcroft Early Years Fundin8 Heating SleM Othe¥ funds 48.531 48.531 23.051 23.051 596,929 .395 86.187 155.4161 515.621 Restricted funds a held for the folk)wing pur1Se5= Gaukrodger fund- For the promotion and encouragement of the education of one or more boy5 at the School. Fielding fund- To provide scholarships lo male boarders who have Irved in the ancient parish of Halifax for the last 6 yeafs. Cockcroft fund- To provide scholarships to pupils. Greenwood fund- For appropriate use by the sch¢)ol. 17. Allocation of Net Assets
RISHWORTH SCHOOL Notes to the Consolidated Financial Statements for the Year Ended 31" August 2023 Operating lease commitments Parent Consolithted JI AUE 2023 31A 2022 JIA 2023 31 A4J8 2D21 Due in under one year L)uÈ in one 10 FNeyears Totsl operating comrnbtments not prowded in the 5talemeThts 35,693 44,565 22.446 40.231 35.693 44565 22,446 40,231 80.158 62.678 80.258 62,678 Tot31 expenditure incurred under operatlng lease contracts during the year was £26,33312022= £9,1791. 19. Pension Schemes Teachers, Pension Scherne ITPS. 'the scheme'}: The School participates in the Teachers. Pension Scheme (England and WJlesl l-the Scheme"). for its teaching stalf. This is an unfunded multi-employer defined benefits pensKJn scheme and it is not possible or appropriate to identifythe a55et5 and liabilitie5 of the Scheme which are attributable to the School. The Scheme trs an unfunded defined benefit pension scheme Whe contributh)ns payable are credtted to the Exchequer and a notional set of imiestments mabntained. The pension cost is assessed every five years by the Government Acttjary. A copy of the valuation report and supporting documentation is on the Teachers. Pension website Ihltps.'Ilww.leaCherspensnS.co.ukjneWeffloyef512o23I1 Olvaluation- resull.a5pxI. The contritMJtion5 payable by the SchcNJl during the accountlll8 periotl were equal to 23.6% of pensionable salaries. The employer's pension cost paid to TPS in the period amounted to £462.48312022.' £427,144). Under the definilion5 Set out in the FRS 102, Ihe TPS is 6 multi-employei pènsion scheme. The School has accounted for its contributions to the scheme as if it is a defined contribution scheme. The pensions thae recorded by the School during the accounting period was equal to the contributions payable. Group PersLal Pension Plan: Rishworth School operates a Group Personal Pension Plan for all bts employees who are not eligible to join the Teachers, Pension Scheme. All new and existing non-teaching staff will be automatically enrolled into this pension plan although staff are able to opt out of this should they wish. The scheme 15 a defined contribut pension Scheme. As a result, Ihe amounl charged to the income and expenditure account fepresents ihe Company'5 contributions payable to the Plan in respect of the accounting period. 20. Reconclliation of Net Incoming Re%>urces to Net Cash Flow from Operatlons 141
RISHWORTH SCHOOL Notes to the Consolidated Flnancial Statements for the Year Ended 31" August 2023 Ytar to 31 Aug 2023 Year io 31 Au8 2022 SuYplu5 1 (Deficit) DepieciaiKTrn charged Profit on Sa of fixed a55et5 Inve5trnent income Inetl Bank deposit Interest Derrea5e I linireasel in dEbtors IDp¢reasel I Intrease in tredito¥s Decrease I lincreasel in tash awaiting Investmeni 1408.1161 205.176 118.9Tr)1 IZ5.7071 18.1301 I3883? 1326.IB81 10240 1237.6561 272,416 13.9501 123.4031 11411 173.6391 581,819 14.8411 NET CASH INFLOW FROMOPEAAnNG ACTIVIT*S 1610.6081 SI0.5 21. Analysis ol Changes in Cash and Cash Equ•¥alents 8aThk Accouryts Totsl alances at 31" Av8USt 2021 Net cash inflowlloutflowl 761.305 5(X).657 761.305 5Tr).657 Balance at 31, Au8U5t 2022 Net cash inflowlloutfl(vwl 1.261.962 1566.2441 1.261.962 1566.2441 Balance at 31" August 2023 695.718 695.718 22. Related Pwly Transartlons No expenses have been reimbursed to Go¥ernors12022= £Nill. No Governor received remuneration or has received any other benefits from the charity12022 £Nill. Owing to the nature of the School's operations and the composition of the board of govemors being drawn from local public and private 5ectoT organisalions, it 15 inevitable that tran5a¢tions will take place wilh organisations and indiwduals in which a member of the board of governors may have an interest. All transactions involving Such Organisatn5 are conducied in accordance with the School's financial re8ulations and normal procurement procedures. Dr A Wilkins MA. BA is the President of Friends of Rishworth School Sport during the period Friends of Rishworth School Sport raised funds amounting lo £3.825 which is included in Other ancillary income.
RISHWORTH SCHOOL Independent Auditors. Report to the Members of Rishworth School for the Year Ended 31 August 2023 Opinion We have audited the financial 5tatemerrt5 of Rr5hworth khool I'ihe parent charitable cThmpany'l and its 5ub5idiary I'the group'l for the period ended 31 August 2023 which comprise the Company Statement of Financial Artivities (including the income and expendituie account). the Consolidated Statement of Financial Activities lincluding the income and eXNditUre account). the Company Balance Sheer. the Consolidated Balance Sheet, the Consolidated Cash Flow Staternent arbd notes to the financial statements. Including a summary of si8ntltcant accountin8 Fdicie5. The financial reporting framework that ha5 been applied intheir preparation is applicable lawand UniEed Kingdom Accounting Standards. including Financial Reporting Standard 102-. The Financial Reporting Srandard aPFdicoble in the UK and RepuFAic of IrelaNI Iunited Kingdom Generally Accepted Accounting Pncti1. In our opinion. the financial staternents.. give a true and fair view of the state of the group's and parent charitable companrfs aff3irs as at 31 August 2023 and of its incoming resources and application of resources, including it5 income and expenditure. fow ihe period then ended: have been propel prepad in accordan Unr(ed Kingdom Generalfy Accepted Accounting Practice.. have been prepared in accordance with the requ*ements of the Companies Act 2(K)6. B051s for oplnitin We conducted our audit in accordance with International Stdards on Audtling IUKI IISAS IUKII and applicable law. Ovr responsibilities under those standaids are further descrjbed in the Auditor'5 responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethbcal requirements that are relevant tg our audit of the financial statements in the UK. induding the FRC'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 suffittent and apwopriate to provide a basis for our opinion. ConclusloThs relatlnz lo golnK c¢mrn In auditing the financbal Statements. we have concluded that the Trustees. I'the governors'l use of the going concern basis of accounting in the preparatton of the Ibnancial statement5 15 appropriate. 8a5ed on the work we have performed. we have not identified any material uncertainties relating to events or conditions ihat, individually or collective. may cast signifi(3ni doubi on the group and parent charitable company's abilityto continue as a going concern for a period of at least twelve months from when the financial staremenis ale auihorised for issue. Our responsibilities and the responsibilities of the Trustees wth respect to goin8 concern are described in the relevant sections ol t5 report. Other inlornmtion The other information comwises the information included in the annual report other than the financial statements and our auditorf5 report thereon. The governors are responsible for the other information contained in the annual report. Our opinion on the financial staternents does riot cover the other information and. except io the extent oiherwise explicit stated in our report, we +Yo not express any form of assurance conclusion there(. 143
RISHWORTH SCHOOL Independent Auditors, Report to the Members of Rishworth School for the Year Ended 31 August 2023 In connection with our audit ol the financial statements, our reSnsibIlItY is to read the other information and. in doing 50. ¢onsider whethei the other inforfflation 15 materially inconsisieni with the financial Statements or our knowledge obtained in the audit. or otherwise appears to be matenally misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterrnine whether this gives iise to a material misstatement in the financkil statements or a material misstatement of the other information. 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 nothin8 to report in this regard. Opinion5 on other matters pfes¢ribed by the CompaThe5 Acl 2( In our opinion. based on the work undertaken in the course of the oudit= the information given in ihe annual report ol the gernOr5 lincorporatin8 the strategic repwt and the directors. iewt prepared foi the purposes of tompèny lawl for the financial period for which the financial statements are prepared 15 consistent with the finarbcial statement5.' and the annual report of the governors lincorporating the 5trate£ic report and the director5. report) have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understandin8 ol the group and parent charitable company and its environment obtained in the course of the audrt. we have not identified material misstatements in the annual report of the gOVerr$, including the strategic report and the directors. report. We have nothing to report in respett of the folb)wing matters in relation to which the Companies Act 2CK requires us to report to you rf. in our opinion: adequate accounling records have not been kept by the parent charitable company, or rerurns adequate for our audit have not been received frofn branches not visited by us,. the parent chariiable companrfs financial Statements are not in agreement with the accounting records and return5" certain di5closufe5 of direclors. rÈmuner3tion specified by law are not made.. or we have not obtained all the information and explanatbons we require for our audit. Responslbllltles of the govemors As explained more fully in the governors. ie5rM)nsibilitbes ststement set oul on pa8e 17. the governLYS (who are also directors of the charitabbe company for purposes of company lawl are responsible for the preparation of the financial statements and for being sat15fied that they give a true and fair view. and for such internal control a5 they determine 15 nece55ary to enable the preparation of financial 5t3ternents that are free from moterial misstatement, whether due to fraud w error. In preparin8 the financial statements. the governors are responsible for assessin8 the group's and parent charitable companWs Jbility to continue os a going corem, db5elosin& Js applicable. matters related to going concern and using the 8obn8 concern basis of accounting ullless the governors either intend to liquidate the group or the parent charitable company or to cease operations. or have no realistic alternatwe but to do so. Pagi. 144
RISHWORTH SCHOOL Independent Auditors, Report to the Members of Rishworth School for the Year Ended 31 August 2023 Auditorf5 responbIlItieS for the audit of the financial statements Our objectives are to obtain reasonable assuran about whether the financial Statements 35 a whole are free from material misstaiement, wheiher 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 1&45 IUKI will afv4ays detect a materi31 misstatement when it exists. Misstatements can arise from fraud or eryof and are considered material if. individualty or in the aggregate, they could reasonably be expected to influence the economic deCIon$ of users taken on the basis of these financial statement5. Irregulèiities. 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 Iraud. The extent to which Ouf procedures are capable of detectin8 irregularities. including fraud is detailed below.. Our approach to identifying and assessing the risks of materkil misstatement in respect of irregularities, including fraud and non-compliance with laws and regulati$, was as follows= the engagement partner ensured that the engagement team collectrvely had the appropriate ompetence. capabilities and 5ki115to identify orreCnISe rbgn-eompliance with applicable laws and regulations.. we identified the laws and regulations applicab to the charitable company through discussions with directors and other management,. we focused on specifK laws and reeulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company,. we assessed the extent of complian(e with the laws aryj regulations iden11fd above through making enquir*s of managemenL' and identified laws and regulations were communicated within the audit team regular and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charitable companWs financial statements to material misstatement, inclvdin8 obtaining an undersianding of how Iraud might occur. by-. making enquiries of management a5towhere theycorbsmlered there wassv5ceptibility to fraud. their knO%edge of artual, suspected and alle8ed fraud." and consideringthe intefnal controls in place to mr(igate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. performed analytical prOdureS to identify any unusual or unexpected relation5hips,' tested journal entrie5 to identify unusual transactions,. invesivdated the rationa behind significani 01 unusual transactions. 145
RISHWORTH SCHOOL Independent Auditors, Report to the Members of Rishworth khool for the Year Ended 31 August 2023 In response to the risk of irregularities arKI non-compliance with lawsand regvlations, we designed procedures which included, but were not limited to.. a8reeing financial statement disch)5ures to undertying SupF1ng documentation.. readin8 the minutes ol rneetinBs of those charged with governan,. inquiring of managerTrent as to artual and potential litigation and daims; and re¥iewing torrespondence relevant regulators irKluding the Independent Schools Inspectorate. There are inherent limitations in our audit procedures described above. The more removed that laws and regulaiions are from financial transaction5. the less likely it is that we would become aware of non-compliance. Auditing standards a150 limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the dirertcys arKI other marbagement and the inspectM)n of regulatory and legal correspondence. if anv. Material misstatementsthat arise due to fraud can be harderto detect than those that artse frorn error as they may involve delibeiate concealment or collusion. A further description of our responsibilities for the audit of the financi31 statement5 1(Kated on the Financial Reporting Council's web51te at.. www.frc.org.ukl3udit015responsibilitie5. Thi5 description forms part of our auditorf5 report. Use of our report Thi5 report Is made solely to the charitable compan(s members. as a body. in attordance with Chapter 3 ol Part 16 of the Companies Act 20(6. Our audit wk has been undertaken 50 that we might state to the charitable compBnVs members and its trustees those matters we are required to stale 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, the charitable cornpany's rnember5 as ur audit work. for this report. or for the oynions we have formed. Sal lock FCA (Senior Statutory Auditor). For and on behalf ol Spenser Wllson Ltd Chartered accountants and statutory auditor Equitablè House 55 Pellon Lane Halifax West Yorkshire HXI 5SP 29 May 2024 146