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2022-08-31-accounts

Charity registration number 1118598

Company registration number 06067557 (England and Wales)

LALEHAM LEA SCHOOL

(LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

LALEHAM LEA SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Governors M D Barras
K Barry
S Bignell
E O'Domhnaill
M Ryan
Father P M L Sebastian
Y Epale (Appointed 19 November
2022)
Secretary E Jones
Charity number 1118598
Company number 06067557
Registered office 29 Peaks Hill
Purley
Surrey
CR8 3JJ
Auditor Baxter & Co
Lynwood House
Crofton Road
Orpington
Kent
BR6 8QE

LALEHAM LEA SCHOOL

CONTENTS

Page
Governors' report 1 - 4
Statement of governors' responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 25

LALEHAM LEA SCHOOL

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

The governors, who are also the Trustees and directors of the charity for the purposes of the Companies Act 2006, present their annual report and financial statements for the year ended 31 August 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity's objects are to advance the Catholic religion by the conduct of a Catholic School or by any ancillary or religious or educational activities for the benefit of the public.

The charity aims to deliver its objectives by focusing on the following key aims:

  1. to ensure that all aspects of school life are permeated by the Catholic ethos of respect and love for one's neighbour;

  2. to provide a first class education for boys and girls aged 3 to 11+;

  3. to build each pupil's self-confidence so that they are prepared for the opportunities and responsibilities of the secondary curriculum and service to the wider community;

  4. to provide facilities for local educational, family and catholic child-centred programmes.

Public benefit

The governors have paid due regard to guidance issued by the Charity Commission's general and supplementary guidance on public benefit, the advancement of education and fee-charging when reviewing our aims and objectives and in planning our future activities.

Achievements and performance

Charitable activities

Children from all backgrounds are welcomed into the school and pupils benefit from the kind, caring and diverse community. Places are offered following an assessment to ascertain the prospective pupils' pace of learning to ensure that they can benefit from the education provided. Student reports are issued twice a year and Parent Evenings are carried out during the year. Parent and Class Teacher communications are actively encouraged.

The Independent Schools Inspectorate carried out an inspection of the school from 21st February to 25th February 2022 and found the quality of the pupils’ academic and other achievements is excellent. They found that the quality of the pupils’ personal development is excellent and the compliance standards were fully met.

The Section 48 Denominational Inspection was carried out in October 2019. The Inspector’s conclusion is that ‘Laleham Lea is an Outstanding Catholic School’ and ‘Religious Education is exceptionally well led with the partnership between leaders at all levels being highly effective’.

Our strong commitment to safeguarding remains paramount and our training of all staff, Governors and volunteers is ongoing.

During the year, the students enjoyed curriculum lessons, individual instrumental lessons, LAMDA instruction and in-school clubs. As the pandemic eased off our students were once again able to take up opportunities for educational visits; Years 3 and 4 went to the Natural History Museum, Year 3 went to Morden Hall and Years 5 and 6 went to the Titanic Exhibition. Years 4 and 5 went to a production of ‘Hamlet’. In the summer, our students and parents enjoyed Sports Day held at Purley Sports Club. Our Year 6 group enjoyed a residential trip to PGL Marchants Hill and our Year 5 group went to Aquasports for four afternoons.

LALEHAM LEA SCHOOL

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

There are varied lunchtime and after-school club activities including Reading club, Verbal and Non-Verbal Reasoning, STEM, Art & Design, Accelerated Maths, and Classical Civilisation and Latin. LAMDA exams went ahead and excellent results were achieved. Tennis, fencing and soccer were part of the offering.

Our Nativity plays and Carols Concert, held in the autumn term were recorded for the parents to enjoy, the Easter Concert and a production of ‘Olivia!’ the musical, held later in the year were performed live for the parents. This was followed by our annual Prize-Giving ceremony.

A robust Risk Assessment for Covid-19 remained in place for the students, staff and parents at Laleham Lea School.

Caring for those less fortunate than ourselves is a recurring theme in the life of the school. Harvest Festival and Christmas gifts were donated to the Purley Food Hub. Other charities that have been supported include over 70 shoeboxes sent to the Samaritan Purse for the Christmas Shoebox appeal.

These financial statements cover the academic year 2021/2022:

Financial review

This year the school has recorded a surplus of £141,649 (2021: surplus of £71,829). Unrestricted reserves as planned stood at £751,409 and have been retained for future use as described below.

Reserves policy

The School carries minimal free Reserves with day to day operational costs met through working capital without recourse to borrowings.

It is the intention to retain modest reserves in the order of three to six months of operating costs to provide for contingencies, fiscal demands, the ongoing stability and financial security of the School, its commitments and undertakings.

Budgeting policy

The School Business Manager has prepared a budget for the year ending 31 August 2023 and maintains a careful regular check over the financial situation of the company, monitored by Governors.

Bank account

The Charity's funds are kept in current and deposit accounts in order to maximise returns on cash deposits, even though the deposit account rates are presently very low.

LALEHAM LEA SCHOOL

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Plans for future periods

The School operates a three-year strategic development plan that is reported on to the Board and formally reviewed by the Governors. The Governors’ future plans are to further extend our environmental initiatives, to involve the students with the rollout of the Eco Council and the attainment of the Eco-Schools Green Flag Accreditation, and to carry on continuously improving the school site with the aim of cutting our carbon footprint. The Learning Environment will be continuously improved upon and upgraded as will the investment in technology.

Sustaining the standards of excellence (evidenced by the ISI inspection of February 2022) is a focal point of our extended curriculum and planning, with additional investment in staffing to ensure that the students continue to receive an excellent curriculum and extra-curricular offer providing breadth and depth in their education. The Head Teacher and Curriculum Sub Committee rigorously review the Curriculum from EYFS to Yr. 6, extending learning opportunities for all students and supporting the well-rounded development of the pupils, with the aim of extending specialist teaching at every opportunity.

Structure, governance and management

Laleham Lea School is a charitable company limited by guarantee governed by its Memorandum and Articles of Association dated 25 January 2007. The school remained dormant until 1st April 2009 when it commenced trading. The school has no share capital and is limited by guarantee. It is registered as a charity with the Charity Commission. All Governors give their time freely.

The governors, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

M D Barras

K Barry S Bignell M Brunni (Resigned 18 February 2023) K Dwyer-Burchill (Resigned 3 April 2023) E O'Domhnaill M Ryan Father P M L Sebastian Y Epale (Appointed 19 November 2022) S Webb (Resigned 17 March 2022)

None of the governors has any beneficial interest in the company. All of the governors are members of the company and guarantee to contribute £1 in the event of a winding up.

The full Governing Board meet in full at least 3 times a year. Currently all governance decisions are referred to the full Board meetings. The Board seek to recruit Governors from within the local community who have an interest in developing the Catholic character of the school, and supporting the education needs of the children at Laleham Lea. Induction and ongoing training is provided by the school.

Auditor

In accordance with the company's articles, a resolution proposing that Baxter & Co be reappointed as auditor of the company will be put at a General Meeting.

Risk management

The Governors have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

LALEHAM LEA SCHOOL GOVERNORS. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 The goveinois. repo)rt was aDDroved by the Board of Governors_ M Ryan halr of Governors 15 May 2023

LALEHAM LEA SCHOOL

STATEMENT OF GOVERNORS' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2022

The governors, who are also the directors of Laleham Lea School for the purpose of company law, are responsible for preparing the Governors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the governors are required to:

The governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LALEHAM LEA SCHOOL

INDEPENDENT AUDITOR'S REPORT

TO THE GOVERNORS OF LALEHAM LEA SCHOOL

Opinion

We have audited the financial statements of Laleham Lea School (the ‘charity’) for the year ended 31 August 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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:

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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with 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 governors' 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 charity’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 governors with respect to going concern are described in the relevant sections of this report.

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 governors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

LALEHAM LEA SCHOOL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF LALEHAM LEA SCHOOL

Responsibilities of governors

As explained more fully in the statement of governors' responsibilities, the governors, who are also the directors of the charity for the purpose 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 governors 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 governors are responsible for assessing the charity’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 governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

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 extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

The prior period financial statements were not audited.

LALEHAM LEA SCHOOL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF LALEHAM LEA SCHOOL

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Louise Hallsworth FCA (Senior Statutory Auditor) for and on behalf of Baxter & Co ......................... 18 May 2023 Chartered Accountants Statutory Auditor Lynwood House Crofton Road Orpington Kent BR6 8QE

Baxter & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

LALEHAM LEA SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
-
91,208
Educational activities
4
1,131,203
-
Other trading activities
5
2,691
-
Investments
6
2,506
-
Total income
1,136,400
91,208
Expenditure on:
Raising funds
7
13,494
-
Charitable activities
Educational activities
8
944,355
91,208
School equipment
8
36,902
-
Total charitable expenditure
981,257
91,208
Total expenditure
994,751
91,208
Net income for the year/
Net movement in funds
141,649
-
Fund balances at 1 September 2021
609,760
-
Fund balances at 31 August 2022
751,409
-		 Total Unrestricted
funds
2022
2021
£
£
91,208
4,501
1,131,203
992,747
2,691
-
2,506
2,158
1,227,608
999,406
13,494
8,365
1,035,563
867,567
36,902
51,645
1,072,465
919,212
1,085,959
927,577
141,649
71,829
609,760
537,931
751,409
609,760		 Total Unrestricted
funds
2022
2021
£
£
91,208
4,501
1,131,203
992,747
2,691
-
2,506
2,158
1,227,608
999,406
13,494
8,365
1,035,563
867,567
36,902
51,645
1,072,465
919,212
1,085,959
927,577
141,649
71,829
609,760
537,931
751,409
609,760
999,406
8,365
867,567
51,645
919,212
927,577
71,829
537,931
609,760

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LALEHAM LEA SCHOOL BALANCE SHEET ASAT31 AUGUST2022 2022 2021 Fixed assèts Tangible assets 13 198.794 186.059 Cuffent assèts D8btors Cash 81 bank and In hand 14 262,932 827.336 . 212.807 659.780 1.090.288 872.567 Cr•dltors: amounts falllng duo wlthln on8 year 15 {537.653) (448.866) Net current assets 552.615 423,701 Total asso1$ less curront Ilabllltles 751,409 609.7eO Income funds Unrestricted funds 751.409 609,760 751.409 609.760 The company is enlilled to the exernpbon from the audit requirement contwned in seton 477 of the CornpaniesAcl 2006, forthe year ended 31 August 2022. allhoLvJh an audit has b8en carrod ￿t under seclion 144 of the Charitles A¢12011. The directors acknowlgdge their responsibili11￿ for Compl￿￿9 the requwements of the Companies Act 2006 wlth respeot to ar￿Unting re(x)rds and the preparatson of finan￿al statem￿)ts. The mèmbers have nc>l required the company tr) obtain an audit of its finanaal statements under the requirements ol tho CompanlesAcl 2006. lor fhe year in question in accordance with sedNin 476. These financial statements have been prepared in a0xtyrdan￿ with fhe pro¥i%ons a￿]cable lo c￿7PanIeS subje to Ihg small companies regime. The financial Slalements w& approved by the Govemoys on 15 May 20¥3 M Ryan Chalr of Governors ty+g+, Company r¢glstratson numbèr 06067557 10-

LALEHAM LEA SCHOOL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities
Cash generated from operations
22
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(49,637)
2,506		 £
214,707
(47,131)
-
167,576
659,760
827,336		 2021
£
(36,361)
2,158		 £
219,637
(34,203)
-
185,434
474,326
659,760

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

Charity information

Laleham Lea School is a private company limited by guarantee incorporated in England and Wales. The registered office is 29 Peaks Hill, Purley, Surrey, CR8 3JJ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the financial statements, the governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the governors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the governors in furtherance of their charitable objectives.

1.4 Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The value of services provided by volunteers is not incorporated into these financial statements.

Where services are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.

School fees provide the most significant income for the school and are recognised where there is an entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

All other income including donations and investment income is provided for at the point at which it is received as it is unpredictable and not material.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably . Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of educational programmes. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. The trustees have identified two charitable activities.

Governance costs

Support costs now include governance costs which are costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees, accountancy fees, legal and professional fees and bank charges.

Allocation and apportionment of costs

Any costs which are not deemed as a direct cost are allocated as support costs which include governance costs which are those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. All depreciation costs are deemed to be support costs of the provision of school equipment. All other support costs are deemed to be those that support the provision of educational activities.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 10% straight line
Fixtures and fittings 10% straight line
Computers 20% straight line
Motor vehicles 33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

The charity was granted a 50 year lease at a peppercorn rent and took over the existing building with its assets which were purchased for the nominal sum of £1.

The charity's policy is to capitalise tangible fixed assets which cost over £1,250 per individual asset.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Restricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts - 4,501
Government grant income 91,208 -
91,208 4,501
Educational activities
Charitable Charitable
Income Income
Heading 1 Heading 1
2022 2021
£ £
School fees 1,092,829 992,747
Club income 23,756 -
Other income 14,618 -
1,131,203 992,747
Other trading activities
Unrestricted Total
funds
2022 2021
£ £
Trading activity income: other 2,691 -

4 Educational activities

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

6
7		 Investments
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Interest receivable
2,506
2,158
Raising funds
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Fundraising and publicity
Advertising
11,678
8,365
Other fundraising costs
1,816
-
Fundraising and publicity
13,494
8,365
13,494
8,365		 Investments
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Interest receivable
2,506
2,158
Raising funds
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Fundraising and publicity
Advertising
11,678
8,365
Other fundraising costs
1,816
-
Fundraising and publicity
13,494
8,365
13,494
8,365
8,365
8,365

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

8 Charitable activities

Educational
activities
School
equipment
2022
2022
£
£
Staff costs
744,773
-
Rates and water
12,120
-
Insurance
4,381
-
Light and heat
13,260
-
Educational resources and
expenditure
36,782
-
Postage, telephone and
stationery
17,934
-
Sundries
1,731
-
Repairs and maintenance
56,839
-
Travelling expenses
1,191
-
Indirect employee
expenses
11,477
-
Bad debts
3,548
-
Subscriptions
5,477
-
IT costs
15,985
-
Catholicity (Nativity /
Easter)
1,817
-
Club and Outings expenses
8,251
-
Catering expenses
74,345
-
1,009,911
-
Share of support costs (see
note 9)
2,595
36,902
Share of governance costs
(see note 9)
23,057
-
1,035,563
36,902
Analysis by fund
Unrestricted funds
944,355
36,902
Restricted funds
91,208
-
1,035,563
36,902		 Total
2022
Educational
activities
School
equipment
2021
2021
£
£
£
744,773
662,511
-
12,120
(3,023)
-
4,381
5,633
-
13,260
14,886
-
36,782
-
-
17,934
14,343
-
1,731
(155)
-
56,839
49,684
16,321
1,191
1,179
-
11,477
4,827
-
3,548
(4,634)
-
5,477
5,539
-
15,985
20,492
-
1,817
342
-
8,251
5,284
-
74,345
76,865
-
1,009,911
853,773
16,321
39,497
2,381
35,324
23,057
11,413
-
1,072,465
867,567
51,645
981,257
867,567
51,645
91,208
-
-
1,072,465
867,567
51,645		 Total
2021
£
662,511
(3,023)
5,633
14,886
-
14,343
(155)
66,005
1,179
4,827
(4,634)
5,539
20,492
342
5,284
76,865
870,094
37,705
11,413
919,212
919,212
-
919,212

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

9
Support costs
Support
costs
Governance
costs
£
£
Depreciation
36,902
-
Bank charges
2,595
-
Audit fees
-
9,350
Accountancy
-
-
Legal and professional
-
13,707
Consultancy costs
-
-
39,497
23,057
Analysed between
Charitable activities
39,497
23,057		 2022
Support
costs
Governance
costs
£
£
£
36,902
35,324
-
2,595
2,381
-
9,350
-
3,150
-
-
900
13,707
-
-
-
-
7,363
62,554
37,705
11,413
62,554
37,705
11,413		 2021
£
35,324
2,381
3,150
900
-
7,363
49,118
49,118

Governance costs includes payments to the auditors of £9,350 (2021- £3,150) for audit fees.

10 Net movement in funds 2022 2021
£ £
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit of the company's financial
statements 9,350 3,150
Depreciation of owned tangible fixed assets 36,902 35,324

11 Governors

One or more of the trustees has been paid remuneration or has received other benefits from an employment with the School. The Head Teacher and other Staff trustees only receive remuneration in respect of services they provide undertaking the roles of principal and staff members under their contracts of employment, and not in respect of their services as trustees.

The value of trustees' remuneration and other benefits was as follows:

K Barry (Head Teacher):

During the period, travel and subsistence payments totalling £46 (2021: £nil) was reimbursed or paid directly to 1 Trustee (2021: none). Expenses were incurred in performing the normal duties of employment.

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

12 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Teaching
Support
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
Number
12
12
24
2022
£
592,865
53,023
98,885
744,773		 2021
Number
12
12
24
2021
£
532,549
39,346
90,616
662,511

The trustees consider 3 (2021: 3) members of staff to be key management personnel. The total employment benefits of key management personnel were £203,978 (2021: 216,514).

The number of employees whose annual remuneration was more than £60,000 is as follows:

2022 2021
Number Number
(Restated)
£70,001 - £80,000 - 1
£80,001 - £90,000 1 -

The prior year has been amended in order for the two years to be comparable.

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

13
Tangible fixed assets
Leasehold
improvements
Fixtures and
fittings
Computers Motor vehicles
£
£
£
£
Cost
At 1 September 2021
24,036
224,238
40,109
22,260
Additions
-
30,734
18,903
-
At 31 August 2022
24,036
254,972
59,012
22,260
Depreciation and impairment
At 1 September 2021
12,773
68,153
21,398
22,260
Depreciation charged in the year
2,402
26,193
8,307
-
At 31 August 2022
15,175
94,346
29,705
22,260
Carrying amount
At 31 August 2022
8,861
160,626
29,307
-
At 31 August 2021
11,263
156,085
18,711
-
14
Debtors
2022
Amounts falling due within one year:
£
Trade debtors
237,469
Other debtors
5,174
Prepayments and accrued income
20,289
262,932
15
Creditors: amounts falling due within one year
2022
Notes
£
Other taxation and social security
14,197
Deferred income
16
390,917
Trade creditors
47,570
Other creditors
74,814
Accruals and deferred income
10,155
537,653		 Total
£
310,643
49,637
360,280
124,584
36,902
161,486
198,794
186,059
2021
£
182,855
-
29,952
212,807
2021
£
9,305
349,875
7,228
64,344
18,114
448,866

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

16 Deferred income
2022 2021
£ £
Arising from School fees received in advance 390,917 349,875
Deferred income is included in the financial statements as follows:
2022 2021
£ £
Deferred income is included within:
Current liabilities 390,917 349,875
Movements in the year:
Deferred income at 1 September 2021 349,875 284,970
Released from previous periods (349,875) (284,970)
Resources deferred in the year 390,917 349,875
Deferred income at 31 August 2022 390,917 349,875

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

17 Retirement benefit schemes

The Charity's employees belong to two principal pension schemes: the Teachers' Pension Scheme England and Wales (TPS) for academic and related staff; and the TPT Pension Scheme (TPT) for non-teaching staff.

The pension charge for the year includes contributions payable to the TPS of £87,693 (2021 - £80,594) and contributions payable to the TPT scheme of £11,192 (2021 - £9,241). Contributions amounting to £12,514 (2021 - £10,938) were payable to the schemes at 31 August 2022 and are included within creditors.

Teachers' Pension Scheme

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers in the Charity but all teachers have the option to opt out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary. These contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers' Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019.

The key elements of the valuation and subsequent consultation are:

The next valuation result is due to be implemented from 1 April 2024.

A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Charity has accounted for its contributions to the scheme as if it were a defined contribution scheme. The Charity has set out above the information available on the scheme.

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement in funds Movement in funds
in funds
Incoming Balance at Incoming Resources Balance at
resources 1 September resources expended 31 August
2021 2022
£ £ £ £ £
LA Grant income - - 91,208 (91,208) -

19 Financial commitments, guarantees and contingent liabilities

During the year ended 31 August 2020 the school opened its kitchen for meals. A contract was formed with Nourish Contract Catering Limited to supervise and manage the catering services. The term of this contract is six years from 1 September 2019. If the school decides to terminate this contract before this date they will be liable to reimburse Nourish Contract Catering Limited for any un-depreciated investment remaining. As at 31 August 2022 the value of this liability is £3,250, this value will depreciate on a straight line basis in line with the term of the contract.

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

20 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2022
£
1,536
1,536
3,072		 2021
£
-
-
-

LALEHAM LEA SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

21 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

22
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Increase in deferred income
Cash generated from operations		 2022
£
141,649
(2,506)
36,902
(50,125)
47,745
41,042
214,707		 2021
£
71,828
(2,158)
35,324
66,128
(16,390)
64,905
219,637

23 Analysis of changes in net funds

The charity had no debt during the year.