GROVE SCII DBYGU TEE GOVEIiL¥JO PORT AND CCOUNTS YE ENDED 31 A UST 2024 Regi8t¢r¢d Charity No: Registered Company No: I 119907 06267911 ststutory Infomtstion 2. - 6. R¢port of the Governors (incorporating Stratsgic Report) Report of the Auditors 10. Statement of Financial Activities ii. Income aud Expenditure Acoouat 12. Batanc¢ S￿eCt 13. Ca8h Flow Statement l4. . 22. Notes to the Awounts FLETCHER & PAR NERS CHART D ACCOUNTANTS 18BURY CHAF VE SCllOOL Ll ITLD BY GU VIRNORSI TOR THE YE AND ACCOUNT EI¥DED 31 A 24 Governors: + Miss S R M¢QuÉllell *1+ Mrs H R L£llo + T Y Griffiths Esq N Jon¢s Esq */ M R D Roller E8q +1 Mr8 A Perry * Mrs D L Coveney + Mr8 S L Pitcairn + C Saenger Esq ' Mr8 C M McNeil A J A Donald Esq + B l H Coward Esq (Chair of Governors) (Resignea 21 March 2024) (Vice Chair of Governors) (Re8igned 21 March 2024) {Regigtied 21 March 2024) (Safeguarding Governor) (Appointed 9 September 2023) denotes a member of the Finar4ce Committee + dettotes a ￿ember of the Educatton Con]mittee / denotes a member of the Governance & NominalioJL8 Committee Senior Management Tellm: Heathnaster Bursar and Clerk to the Governors Deputy Head (Ac&demtc) Deputy Head (Pastoral) Senior Master FIead of PTe-pIep S Head Esq Mrs M L Davi¢s Mr D Gazard Mr8 L Hearsey Mr J Webster Mrs G Field Addre85: Bourne Avellue Salisbury Wiltshire SPI ILR Advlsers Bank¢rs: Lloyés TSB plc, 38 Blue Boar Row, Salisbury SPI IDB Fletcher & Partners, Crown Chambers, Brldge StreeL Salisbury SPI 2LZ Auditors,. Regtstered Niimbers Ch￿1(Y No,. 1119907 Company No: 06267911 CHAFYN GROV£( SCHOOL I￿￿[ED BY CUARANTE GOVE CORPORATING THE STRAYTGIC REPORT FOR THEI YKIIR ENDED 31 AUGUST 2024 The Governing Body presents this report with the audited CO￿OI1d￿ted accounts for the year onded 31 Augu8t 2024, whicli have been prepared so as to comply WAth the provision8 of the Compani¢4 Act 2006, the Charities Act 2(111 and the Ststement of RecomnW￿Cd Practice 'Accounting and Reporting by Charities (FRS 102),. THE STRA The overall object of tho Charity and its principal activities is to benefit the publiG by advancing the education of boy8 and gbls by the provision of a day andlor bO￿dIllg School in Sali8bury and by anGillary or incidental educational activities and other associatsd activ1ti¢8 for th¢ benefit of th¢ community. Alms and Intended Impa¢t Within its obj¢¢t$, Chafytt Grove School's aim is to provide pupils from the ages 3-13 widl a high standard of ea￿ation aoross a broad range of Arca8 and to prep￿e them for the demands of senior school #nd life inthè modem world. The Goverllors confinn tbat they have conwlied wxth the duty in Section 17(5) of the Charities Act 2011 to have due regard to th¢ publio benefit 8uidance published by the Ch&rity Conmiission. In this rogard they have wkdened access to the educational provision of the charity by contilluing to offer means test¢d bursaries to famiEie8 who would otheAlViS¢ be unable to access the School. The de￿,18 ure contained L&ter in this reporL Post balance sheet event On 8 January 2025 it was announced that Chafyn Grove School would joill the edUCatiot￿l group Unxted Church Sthools Trust (UCST), Itgistered in England No 2780748, Charity numb¢T 1016538, which Operat￿ a number of independent schools kL8 part o£United Learning. United Learning comprise5 the UCST as woll as the United Learning Trnst (ULT) which operatss a number of academy s¢hoo18. Chafyn Grov¢ SCI￿01 gifted its trade and assets to United Schools Church Tnlst on l May 2025. It És the intention for the Ch4rity to undertake an orderly close down and ceas¢ trading. Accordinglyi these financial statements are not prepared on a going ¢on¢rfn basi8. STR VE AGEMENT Constltutioll Cbafsm Grove SchDoI is a conwany limited by guarantee, incorporated on 4 Iune 2007 and govemed by tb¢ Memoiandum Articles of Association whi¢lL were approved on 3 July 2007, The Company is a regtstered charity. The activities of the Uninco￿orated ¢haritypr¢viou8ly known as Chafyn Grovc School were transfetted to the haritable coinpany with effect from I Sgptember 2007. The Mentser8 of the Board who are the Governors and Dircctors of the Company for the puryoses of the Companies Act are set out on page l. The numb¢r of the members of the Board shall not be fewer than eight nor nlore than twelve. As the Con]pany is limited by guarallt¢¢, no Goyemor has any interest in the capital of the Company, Appointmellt and induction of Governors Under the tern￿ of the Artiol¢s of Association, Goveinors ar¢ appointed at the Board of Govollor8 Me¢ting on the basis of eligibJity> personal comp¢t¢ncei speci￿1$t ski118 and local availability. New G0Ven￿rS are inducted into the working8 ofthe CharAty followed by a 8¢ries of me¢tings aod vi8its to famdiarise the Goveillor with th¢ School and the key personalities, including the Chaimw4 Headmaster attd the Bur8ar/ClcrL Organi5atlonal structure The Governors, a8 trustees of th¢ ¢h￿lty, are legally r¢sponsill¢ foT the strat¢gic manag¢m¢nt and control of the 8chool and meet at least Ollce per temi. Th¢ Gov¢rnor8 havo establi8hed an Edu¢ation and Pastoral CommItt￿, Finance Con]mittee and Governance attd Nominations CoEnmittee to ￿ett once a terni to appoint new Governors. examine ¢ducat£onalg pastoral and fu￿1claI issues in det&il and to make r¢Gonun¢ndations to tho Board, Lillk Governors are also appointed to represent safeguardingj eststes, health & safety, early y¢ars foundation stage, marketing and boarding. Executiv¢ management of the School is delegated to the Headmast¢r and the r]nanoial n￿llageMent administration ig delegated by th¢ Board and He¥ddma8t¢r to the Bur8aTICl¢rk. Key management The Governors consider the Senior Manag¢ment Team to be the key mallagen￿nt personnel of the Sclwol. The remuneration of the key mallagement is set by reference to comparative posts in the independent sohool sector und is r¢vi¢w¢d arniually. YN GROVE SCHOO I]YIITED B GU TE co OKITING THE STRA CIC R THE YEAR END 31 T 2024 THE Govli RNO CONTINUEI D Rlsk Management The Board of Governors regularly miews the risks to the charity. Detailed consideration of risk8 is delegated to the Finance coll￿11ttee, who aro assisted by the Hea(Imaster and Bursarlclerk. Rigk8 are identified, a88e8sed and controls are established thmughout the year, A fotmal review of tbe charity's risk management processe8 is reviewed by the Finance Cornmittee and presented to the Full Board of GovwLors on an annual ba81S. ORT THE YE Objectlves for the YeAr Key objectives for 2023124 hav¢ beert: Maintaining tho School's ethos of providing f￿st class teaohing and unrivalled opporthities &mong8t all the school community. Providing ouÉ8tanding facitities for all areas of its education with small class 8Azes. Wldening ac¢es8 to the School whenever possible and offeritig a br¢)adth of education to PUPLIS of widely mixed abilities. Increasing the Tange of co-curriGular activAties available to all pupil8. - Maintaining a strong ¢on]n)itment tt) providing a family boarding experience and othos. Being genuinely co-educalional for both boys and girlg from 3 to 13 years old. Encouraging curiosity, courage attd compassion and enabling children to explore their hll potential. - Being finanGi2lly robust, In sumwy tlie Governing Bods18 stratcgies to achieve the8e objective8 include: Educatiort: Improving the curriculun4 developing pupits, thinking skills and improving pupils, literacy. Development: Continuing the development of the facilities of th# School. staffing: Continuing to adjust the Scknol's staff strllctltre to tlleet the changang pupil demographic. Finance: RecruRtitig a iryable roll of pupi18 to ensure the Eong tenn fllwicial stability of the School. Providfing bursarie8: Coiitinutng to provide, whenever possibl¢, l]￿an8-tested bursaries to provide wider acce85 to th¢ Schoolls educational provision. Trlumbers in the School The number of pupi18 at the end of tbe 8chool year was 205, TRA GIC REPOR PE TIOIYAL PERF CE Public EXan￿natiOnS. Chafyn Grove sustained Ats tr&dl(lon of sending children on to a wlde range of leading senlor schools, with Canford, Sherborne, BryaL8toll, Clifton, Milton Abbey and KES all represented. Ln additio￿ 8cholar8hip& were gRined in the fields of Academic, Sport, DT and Dratna to Bryanstoo D&untsey's, FSM, Clay¢smore and Leehur8t Swan. lust as pl¢asingly. one of out Uknaitiiwpupils gained a place at BAshop Wordsworth'8. Sporting Activities. Ch&fyn Grove to offer 'Sport for All, with dedicated coaching for all chiEdTen in a variety of sports. The School oornp¢t¢s In looal as well as national competitions and reached national fu￿16 in Swimming and Athletics. The Eohool hosts a variety 0¢ evertts that the whole School callbe engaged iti, including athletics, cros8-¢ounty, a trtathlon alld B colour as w¢ll as inter-house competitions in Swim￿, hockey and cridtrL The school provides an extensive list of physical after school activitie8 for chiEdren to choose from every terni including badmintoty squash, tennis, golf, footba]I, horse riding) gymwtics, martial arts, fencAng> ar¢hery, yoga, parkour) paddle boarding and many others. At the end of the year, tbree year 8 piipils gained sporting scholarships for 8enior school to Cl&yesfftore, Dauntsey's and Leehur8t Swan. Art5. The School continues to flourish in art, craft and de8ign under the expert ￿ltIon of our Head of Art and the Design and Technology T&ichcr. The school ian a SU¢GessM scknlarship programme again this year with a year 8 pupil gaining a 8uccessthl Scholarship applioation to Bryanston whist supporting others ill producing their portfolios in their own dedicated scholarship cla8srooTrL Childr¢A in tbe Prep School benefited with a variety of art trips to Messurns Gallery, Hayne8 Motor Mu8euftL Devenish Woodland, Vanner Gallery and a year 6 worl(shop at Sherborne school. The art department produced the drall￿ E6t for 'Oliver' and fll]ished tkn AcaderniG year with a School Summer Exhibttio for parent8. Music. Music plays a very important role within Chafyn Grove School under the ¢xpert guidance of tbe DiT¢Ctor of Music alld Drama and her team of dedicated Peripatetic Music Teachers. Tl]roughout the academic year the School held music conc¢rL8 acrosa all year group8 to showcase individual perforniers and group8 such as the orchestra and jazz, The Schoo celebrated great Success in music exams too with high numbers taking ABRSM artd Trinity Mu8ic Exams. Scholar8bips: In year 8, olle child gained a Dranth scholarship to Forres Sandle Manor. Pa CHAFYN CIIOOL IMITED BY GUARAN REPORT OF THE GOVERNORS CORPOtL4TIN THE STRATEI GIC REPOR RTHEYE EiYDED 31 AUGUST 2024 CONTtNUED Dran￿. The School continues to go from strength to strength with Ee&¥oll8 taught in dratna from Pr¢-Prep onward8 and a full progrnmmc of LAMDA (London Ar&d¢my of Mu81¢ and Drama Art) taught by qualified spccialist Teaoher8 in speech und drama. Each terni the school stages a mu8i¢al and drama produotion for parents stsrting with a nativity play by Pre-Prep in the Autull￿ terni, an ithpressiv¢ produGtion of Oliver in tho Spring term by the senior year groups and 'Ratsl > in the Summer term p¢rfornied by years 3 - 5. All children take part in productions to either act, Sing or a88iSt behind the scenes with the stage productloll and lighting, Colltrlbutioll to Lo¢al Economy. The School continues to play a prominont par¢ in local life, employing Staff in a variety of widely diffeling roles, and helps to attract professional f&Ln£lies to the area. It also provides education and boarding &coon]modation for D]aDy of th¢ Military families Stationod in th¢ Wiltshire areo and beyond. Publ1¢ Beuellt. Chaf5￿ Grove School actively 8eek6 to b¢ part of the local conllnunity and has granted land and services for an allotment on the School ground8 to grow fNit and v¢getables to support The F3 Project for Salisbury Food BanE Th¢ School also has strong links with10¢31 primary and nursery schoo18 illcluding Winterbourne Earl's Primary School and iuvolved them in school events such as S￿l￿TnIng galas and cricket coaching aftomoorLS. The School also has a successful programnTr Ietting the school sport faGilitie8 and halls for local ¢ommunity groups without charge for charity and fiindraising ¢v¢nts or for fees below local conllnerGial rates. The S¢hool lets out the boarding facilities to provide affordabl¢ r¢8idential holidays to ¢harity and Cbristiall groups for young people from all backgroullds and hosts sporting and a¢tivity clubs durillg school holidays for all looal s¢hool-aged ¢hildren behyeen the ages of 4 ½ to 14 years. Charlty Fundralslng and Volunteerlng. The School raised £1,345 through a 24-hour for Abby's Hemes at Univer81ty Hospital Southampton. A furtber £1,200 was raised for Abby's Heroes through the Restless Development Triathlo In additio￿ £183 was raised for Dorothy Ho￿$c. ANCIAL PERFORMANC R￿s TS FOR TH£1 YEAR Tlie Governors focus a considerabl¢ amount of th¢ir timc on ettsuring the prudent management of the SGhool'8 fmances. This includes regular review8 wittL the Hea(Ima8ter and Bursar/Clerk on current and projected income and expenditure ' and any r¢8ulting actions that may be appropriats to eNure th¢ 8th001's ongoing finattcial health and development. Grant-maklllg Pollcy Th¢ Governors, policy is to wid¢n public access to the School byproviding eligible parents WAth nThn8 tested fJnallciaR Support with School fees. This year the value of £276,890 was awarded in remisskolls including rnilitary daylboarding and sibling discounts. The total of £273,757 of bursary fimding was award¢d to support parents to reli¢ve hardship and widen access to the SclLooI i￿lUdIng the 8UPPOrt for the educatiott of 7 ukrai￿ ¢hildrett on full or substantial bur8aries, Review of Flnancial Tr&n5&ction$ Total income, after adjusting for sohool bursaries and discount8 was £3,482,175 (2023.. £3,389,227) The expenditure for the year was £3,795,625 giving net expenditsre of £313,450 (2023,. net income of £24,920. Revlew of Flnancial P081tion At the end of th¢ year th¢ not a8gets of th¢ School wer¢ £3,673,318 (2023,: £3,986,768). Reserves Polley The Bur8ary, Prize and Seholar8hip Fun(ts are considered to be designated funds under tho provisiDn8 of the Charities Act 2011. The original fr¢eknld land and the buildings thereon are held on endowment for the pu4)oses of thc School, in accordance with the Clwity Commission scheme goveniing the original charlty. Amounts spellt from the general xllcome of tELe School ott improving the S¢hL)01'8 building8 therefore constitute a transfer to the endowmenL Th¢ Governor8, policy is to oontinue to use the fi]nd$ generatsd by the School's activities to improve IL4 fa¢iliti¢8 ill this way> subject to the need to ensure that Sufficient Worl￿ capital is available to allow the activities to oontitiue. The School's working oapital requirements are kept under regular review, Investment Policy The Governor8, investnwnt poli¢y is to aim to achieve a balanced return from income aiid capital growth, subject to a m¢dium degree of risk, by investing in charitable conunoll inVeStn￿llt funds with a substantial ¢ouity e￿n￿lt. The 8ubsldlary called Chafyn Grove SGhool EThterprises Limikd was fornied on 17 Decenther 2008, The principal activity of the subsidkary is the exploitation of the re￿lllle earning capabilities of the fycilit1¢8 at th¢ School. For the year etsd¢d 31 August 2024, Chafyn Grove SCI￿0￿ Entrrprises Limited made a profit of £22,808 and the8e profits (2023.. £14,816) were paid over to the Charity under the Gift Aid scheme. CHAFYN GR HOOL Y GUARANTEE OF THE GOVEIiNORS INCORPO TING T FOR YEAR ENDED 3 REIP PORT CONTIi¥UED 24 FUTUREI PLAN The Governors continue to n￿thre the plaTh4 for the school urtder the Headma8tsr'A leadershxp with the following aims: To continue to n￿intain &od growpupil numbers to ensuTe fman¢ial viabRtity' To invest in and develop each area of the SGbool, concentratitig on: - Continuing to provAde W￿1Valled opportunities for all pupils. - Colltitiuiiig to improve the quality of the boarding accomn]odation, - Enhancing the provi6ion of The Litik (Leaming Support) throughout the Prep school. - Continue the exp4n8ion &lld variety of co-curricuEar activities for pupils. - Ethallcing the ICT suite with a 3D printer and IAser-cutter - Continuing to introduce energy savxng systen]s to reduce the School ¢￿bOU £ootpiint. To continue to grow academic standards and achlevement by all. To maintain high Kevelg of public benefit through the buT8ary scheme. Chafyn Grove Sohool gifted its trade and ass¢ts to United School8 Church Trust on l May 2025. It is the itttsntion for the Charity to undertake an orderly c108e dowll and oeasts trading. Accordillgly, these fmancial statements are I￿t prepared oll a going concem basis. CIPAL RJ CERTAINTIES The Governors are satisfied that all risk8 are assessed OJ a regular basi8 With system8 and control mea8Utes in place Jiitigate any impact on the Charity. Theyrincipal risks facing the charily are: - Meetitig necessary standards of education and pastoral care for pupJls. Maintaining bigh Standards In pupil outcomes and favourable external in8pection outcomes. - Recrniting and retaining viablo pupil numbers. - Complying with legislative requirements regarding omployment, Health and Safety, data proteGtio di8criinitiation and child protection, together with the tegulatory requiremellts of Corrtpanies House, HMRC, and the Charity con￿)￿$s1o￿ other regulatory bodies. - Opcratittg within budget and remaining finanoially viable. - Fraud alld fll]ancial malpractice. - FÈtilure of Governa￿¢ or Senior Managem¢nt. - Reputational risks. e Key Contro18 used by the S¢1￿1 include: . The forLnutation ajjd in]pletnentation of a strategic and financial plan. Fornial written policies attd checks on their implementatioffj particularly in tbe areas of Child Safety, Safer Il¢cru£tment and Health alld Safety. Schemes of delegation and fornwl financial policies with Cl￿ authori8atioll and approval levels. - Tke introductlon of a proactive marketing strategy. ACCO AND PORTLYG RESP NSIB ITIES The Governors are responsible for preparing the Annual Report and the group and parent rompany account8 in accordancL with applicabl¢ law and United Kingdotn GeneiallyAc¢ept¢d Accounting Practice. Comp&tty law requires the GovernoL8 to prepare financial 8tatements, for each financial ye￿, in accordattce wit applicable law and United Icingdom Accounting Standards (United Kingdom GeneIally Accepted Accounting Pra¢tice), including Financial Reporting Standard 102 IThe Financial ReportAng Standard applicable ill the UK and Repub]ic of Irelalld,, wl)ioh give a true and fair view of the fitwicial activitie8 of the company and the group during the year alld of their fmancial pogition at the end of the year. Irt preparing those statenwits, the Governors are required to: l) Select Suitable a¢coullting policies and then apply them ¢on8istelltlyJ 2) Observe the methods and principles of the Charities SORP. 3) Make judgements and &8tinMte8 that are rea80nable and pruden¢ 4) Stats whether applicable accounting Standards and statements of recommeftded practice have been foklowed, subject to ally depthures disclosed and explained in the fin&llcial staten]ents' 5) Prepate th accounts on the going concern basis unless it 18 inappropriate to as8unw tILat th¢ company will Gontinue in opeTaÈion. CIIAIIY ROVE SC IMITED BY CUARANTEE RII PORT OF THE GOVERNORS ORPORAT STrATEGIC REPORT FOR THE YEARE D 31 AUGUST 2 CONTIN ACCOUN G RESPONSIBtLrtIES continued The Governors are respon8ible for kwing adequate accounting records which disolo8¢ with reasonable accuracy at any time the financial positioll of tho company And which ¢nable them to ensure that the financial statements comply with the provisions of th¢ Companies Act 2006. They are also r¢sponsible for safeguarding the assets of th¢ group atld hen¢0 for taking reasonable 8tep8 for th¢ prevention and d¢ts¢tioll offraud and other irregularities, In so far as ¢a¢h of the Gov¢rnor8 are awa￿ at the tizne of approving th¢ Report: there is no relevant audit infom￿tIOll of which the group's auditor is unaware. and the Goveroors have taken th¢ necessary steps to ellsure they th¢ll￿e1v¢s ar¢ aware of ally r¢levant audit infonnation and to establish that tho auditors are aware of that infomiatiotL The auditor8, Fletcher & ParLuer8, Mryll be proposed for reappointment in ac¢ordan¢e with section 485 of tho Con4)anies Act 2006. This Annual Report including the Strategic Report was approved by the Governors on; , and Signed on its behaIf by: Miss S R McQuillen Chall of Goverllors Pa INDLPKNDENT AUD si REP TOT MEMBERS OF CIIAFYN GROV CHOOL TEDB UARdllYTEE Opinion We have audited the fjnancial statgments of Chafyn Grove School Lin]ited and it8 subsidiary, Chafyn Grove School F.nterprises Limite& (the group} for tho year ended 31 August 2024 which are set out on pages 10 to 22. These comprise tiLe CoÉL801idated S￿tell￿ftt of Fittancial Activities, tkne Consolidated Sunmjary Income and Expenditure Accounl the Consolidated and PaTeLt Charitable Cojjwally Balattce Sheets, the Consolidated Ca8h Flow Statement and the relate(t notes iticluding a Slln￿ of significant accounting policies, The financial reporting framework that ha8 been applied ill their preparation is applicable law and United Kitigdom Aecoullting Standards including Fiuan¢ial Reporting Standard 102; The Financial Reporting Standard applicable in the UK and Ropubtic of Ireland (United Kingaom G¢nerally Accepted Accounting Practice). In our opinion the financial statements: give & tll￿ and fair view of the stats of the group's and the parent clwitable ¢ompanl8 affairs as at 31 August 2024 and of the group'8 in¢oming resources and application of resource8, in¢luding its income and expenditLUf, for the year then ended. Il) hE4ve been properly prepared in accordanc¢ with United Kingdom Generally Accept¢d Accounting Practice. and Ui) have been pmperly prepared in accordattce ivith the requtrettwits of the Companies Act 2006 and the CbAritie8 Act2011. Basls for oplnlon We conduoted our audit in accordance with International Standards on Auditing (UK) (ISA8 (UK)) applicable law. Our ie8ponsibiliti08 under th08e standards are fityther described in the Auditor's Nponsibilities for the audit of the financial statements section of our r¢port. We are independent of the group in accordance with the ethical re¢wirenknnts that are relevant to our audit of the fin￿ClaI stateinellts in the UK including the FRC'S Ethi¢al Standard, and we have fidfilled our Od￿r ethioal responsibilitie8 in accordance with these requirements. We believe that the audit ev£dence we have obtained 15 sufficient and appropriate to provide a basis for our opÈnion. mphasls of matter - ffftanciydl statements prepared on a basis other thAn golng concern We draw your attention tr) note I to the financial 8tat¢fftents concerning the eharitgs ability to continue as a going concern, >n l May 2025 the Governors signed an agreenwit to trallsfer the trade and a88ets of Cltsfyn Gmve School to United Church 4chools Trnst. It is Intel￿ed the Chatity wtll then undertake an orderly close down and cease trading. Accordingly, these flltsllcial statement are not prepared on a going ¢on¢ern basis. Our opinion 18 rtot modified in respect of this matter. Other iiiforthation 1The Governors are responsible br the other inforn]ation. The other in£orn]ation Comprises the infornation included in the Governorsl Arniual Report, other than the f￿ancIal statements and ow auditor'8 report thereon. Our opinion on the financial statenkents does not cover the other inforn)ation and, except to the extent otherwise explicitly stated ia our report, we do not express any fonll of assuranoe conclusion thereon. In coMie¢tion WAth our audit of the fllwicial statements, our re5ponsibAlity ig to read the other infomiation and, in doing 80, consider whether the other itifornmtion is materially inconsistellt with the financial statements OT our knowledge obtained in the audit or otherwise appears to be nuterially n)isstated. If we idelltify such nvdterial incon8iStenc£e8 or appatellt material mtsslatsments, we are required to determine whether there is a material misstatement in the f￿ancial statements or a nmtsrial misstatement of the other illfonnation. If, based on the work we have perforni¢d, we Qonolude that there is a m&terial misstatement of this other inforniatioffj we are required to report th&t fact, We have notbing to report in this regar(I Opinlon on other matter preyerlbtd by tlie CompAnie8 Act 2006 In our opinion, based on the work undertaken in the Course of the audiL the infonnation given in the GovernoTsI Annual Report (incorporating the strategic report and the directors, report) for the fllwi¢ial year for Ivhich the fLuan¢ial statements are prepared 18 consistent with the fmanciaE statements. and the Governors, AllllU￿ report (iticory)orating th¢ strat¢gic report and the directors, report) have been prep￿ed in accordance with applicable legal requirements. li) DEP NDENT AlmITOR81 REPO TOTH EMBERS GROVK SCHOOL t￿￿ED BY GUARANYE TINUED Matters oll which we are required to report by exceptton In the light of th¢ knowledge and understanding of the group and tho par¢nt charitabl¢ ¢ompany and its environment obtsined in the cours¢ of the audiL we have not identified matsrAal rnisstatemellts in the Governor8, Annual Report inGLudiug the Strategic R¢porL We have nothing to report in r¢sp¢ct of the followAng matters where the Companies Act 2006 and th¢ Charities Act 2011 require8 US to report to you if, in our opinion: adequats a¢¢ounting record8 have no.t been kept by th¢ porent clwitabl¢ company, or re￿rn& adequr4te for our audit have llot been receiv¢d &om branches not viskted by us. or th¢ par¢llt clwitabl¢ cOn￿anY fMallC￿ statements are not in agreement with the accounting records and ii) lli) iv) certain dis¢losures of Governors, remuneration specified by law are not made. or we have llot received all the information and ¢xplallations w¢ require for our audit. Respon$lbllltle$ of Governor8 As explained more fidly in the Governors, Responsibilities Stat¢rrtent, set out on pag¢ 5, the Governors (who are also the directors of th¢ charitable con]pany foi th¢ purposes of ¢otnpany law) are reffj)OTL8ibEe for the preparation of the fmancial Statements alld for being 8ati8fied that they give a true and fair View, and for such intsyllal control as they determine 18 neGe8S&ry to enable the proparation of fInan¢ial statem¢nts that ar¢ free frotn nwteii&l JnisstatemenL whether due to fraud or error. In preparing the financial statemexts, thc Governors are re8ponsibl¢ for assessing the group and the parent charitable Con￿any,S ability to continue as a going concern, di8closingy as applioable, matters related to going concern and using the going conG6rn'ba8is of accountlng un1¢88 the governors eith¢r intend to liquidate the group and the parent obaritable company or to Gease operations, or have no realistio alternative but to do so. Auditor's respollslbllitles for the aiidit of the flnallclal statemellt8 Our objectives are to obtain reasonable assurance about whether the financial statements as a WI￿1¢ are fret fronl mat￿1￿1 misslatemont whetI￿r due to fraud or erTor, and to issue an auditor's report that includes our opinion. Reasonable assurallce is a high level of assur￿C¢. but 18 not a guarantee that an audit oonduoted in a¢¢ordallC¢ with ISAS (UK) will always detect a mateiiol mi85tatenwnt when it exists. Mis8tat¢nwnts ¢an aris¢ fraud or error and are considered Jnal¢rÉal if. individually or in th¢ aggregate, they ¢ould reasonably be expected to influence the economic decisions of wer& taken on the basis of these flllancial statements. We ex¢wise professionaljudg¢mort and maintain professional scepticism tI￿OughoUt the audit. Irregularities, including fr&ll￿ are instances of non-¢ompliance with laws and regulatio￿￿. W¢ design procedures in lino with our responsibiEities, outlin¢d abov¢, to detect matsrial n)isstatements in Tespect of irregularities, including frau Our approach to d¢tecting Irregularities, including fraud, 18 dotailed b¢low', Mre ¢nsuTed that dle engagement teaLn collectively had thG appropriate Gornpetence, capabilities aud ski118 to identify or TeGognis¢ non-compliance with applicable laws &nd regulations and that they remY¢ined alert to instances of non-compliance throughout the audit. we identified the legal and regulatory requir¢m¢nts applicable to the School, and obtarned aound¢r8tandtng of how dio School complie8 With tkne rcquiren¢nts through discussions with manag¢ment and those ¢harged with governance and from revi¢w of rel¢vant education inspection reports; we assessed the susceptibility of the financial statements to material misstatemenl including obtsining aft und¢r8tanding of how fraud might OCCUT, This done by making enquiTtes of management a8 to where they considered there was susceptibility to frau(L their knowledge of actual, suspected and alleged fraud. and COTLsidgrillg the internk)I controls in place to n]itigate risks of fraud and non-complianG¢ with law8 and reguktions. we addressed the ri8k of fraud through nwiagement bias and the over-ride of control8 by a8sessing whether judgements and a8sunwtion8 mad¢ by management were indicative of potential bia8 and by investigating the rationale behind significant or unusual transacttons. In Order to address the risk of irregularities we caffied out procedures which included agre¢ing Éhe financial staienlents to underlying doGum¢ntation and enquiring of nwiagement as to actual and potential litigation and in8tances of non-compliance, we obtained an understanding of int¢rnal Control relevant Éo the audit in order to design audit procedures that are appropiiate to our audi¢ objeotiv¢s, but Jot for tbe purpo8e8 of expr¢sslllg an opinion on the effectiveness of the School's ititernal oontrol. DENT AUDITORSI TOT CHA LIMITED BY GU GROVE SCHOOL TEE co UED Audltors, responsibilitie8 for the alliut of the fillancRal statements (continued) There are inlLerent limitations in our audit procedures described above. The more ren]oved that laws and regulations are frotn fmallcial traTh6actions, the less likely it is that we would become aware of non-complianc¢. Auditing standards also limit the audit procedures requir¢d to identify non-cotnpli&nce to enquiry of managejnent And inspection ofrelevant Correspondence, Furthennore. misstatsments du¢ to fraud can be harder to detect than thos¢ that arÉ8e from error a8 they may involve deliberate concealment and collusion, A fillther de8eription of our responsibiliti￿ for the audit of the fuianoial statements is located on the Financial Reporting Council's webslte at., www.frc,org.uWauditorsresponsibilities. Thi8 description fonns part of our auditor's report. Use of our report This report 18 made solely to the compatty'8 members, a8 a body* in ac¢ordattce with se¢tion 495 and 496 of the Co￿panieS Act 2006. Our audit work has been undertaken so that we might state to the compan￿8 n￿￿ther8 those matter8 we are required to stste to them in an auditols r¢port and for no other purpose. To the fullest extent perniitte by law, we do not accept or as8Uttte responsibility to anyone other thart the company and its m¢fftbers as a body? for our audit work, for this reporf or for the opinions we have forrlled. Geofftey hornas Senior Statutory Auditor) for and onbehaIf of Crown Chamber8, FLETCHER &PARTNERS Bridge Street Statutoty Audit015 Salisbury SP12LZ Fletd]#r & Partners is eligible to act as an auditor in tenns 0£8eGtion 1212 of the Companies Act 2006 Pa HAf4YN RO SCHOOL CONSOLIDATED TEMENT F FINAIYCIAL ACTIV FOR THE YEAR ENDED 31 AUG ST 2024 ITrtITED BY GUA TEE General Fund Restricted Endowment Fund Fund Total 2024 Total 2023 Note INCOME FROM: Gr4nts and dollations Charlt8blo actlvlty- Operatlon of the school Scliool fees Pupils, extrds Otlier income Other trading actlvltles Letting8 SGhool 8hop &d¢s lllv¢stments Other 1,578 23,321 24,899 9,007 3,060,808 315,234 4,500 3,060,808 315,234 4,500 2,958,902 339,781 4,800 87,086 1,185 9,734 87,086 1,185 9,734 70,832 5,776 129 Totsl lllcome 3,480,125 23,321 3,503,446 3,389,227 EXPENDITtrRE ON: Raising funds Charitable 4¢tiYity Costs of operation of the scliool 3,206 3,698,658 1,000 95,967 3,795,625 3,361,095 Total expenditure 3,698,658 1,000 95,967 3,795,625 3,364.301 Net income l (expondLture) (218,533) 22,321 (95,967) (292,179) 24,926 Transf¢rs b¢tweon fiinds 12 (62,674) 62,674 Net movemellt An funds (281,207) 22,321 (33293) (292,179) 24,926 Totsl fimds brought fonv&rd 15 1,135,024 2,851,744 3,986,768 3,961,842 Total funds carrled forward £853,817 £22,321 £2,818,451 £3,694,589 £3,986,768 The 8t8l¢m¢nt of fiJancial Y4otiviti¢$ includes all gains and losses reCogni￿d ill the year. The llol¢s on page8 14 to 22 form part of the &ccoviils. CH VYN CR E SCHOOL MITED BY G prrEE INCOME AND EXPENDITURE A COUNT FOR THE YEAR ENDKD 31 AUGUST 2024 Tho Group Tlip Con]pany 2024 2023 2024 2023 INCOME School fr¢s Lettings School shop sales Gift lid froiii Chafyn Grove School Enterprises Llinited Grants and donations oth￿ incom¢ Interest and inv¢5tment incom¢ 3,376,042 87,086 1,185 3,298,683 70,832 5,776 3,376,042 63,876 3,298,683 56,664 22,808 24,899 4,500 9,734 14,816 9,007 4,800 129 24,899 4,500 9,734 9,007 4,800 129 3,503,446 3,389,227 3,501,859 3.384,099 EXPENDITUR St&ff costs Other external charges Int¢rest payable and similar char8¢6 Depre¢i&tion of tangibl¢ r￿ed assets 2,599,442 1,007,115 15,582 173,486 2,333,981 842,768 15,181 172,371 2.599,442 1,005,528 15,582 173,486 2,331,692 839,92 15,181 172,371 3,795,625 3,364,301 3,794,038 3,359,173 TOTAL NET INCOMK I (EXPENDITURE) FOR THE FJNANCIAL YEAR (292,179) 24,926 (292.179) 24,926 Borne froill ¢ndovnneftt fund8 95,967 95,308 95,967 95,308 NET INCOME I (EXPEM)ITURE) FOR THE FJNANCIAL YEAR (£218,533) £120,234 (£218,533) £120234 The notes on pages 14 to 22 forni part of th¢ aGcounts. Pa e 12 CHAFYN GROVE SCJI LIMITED BY GUAR ALANCE SHEETS AT 31 AUGUST 2024 The Group The Company 2024 2023 2024 2023 FIXED ASSETS Tangible fixed asset5 Invesllnents 4,278,120 4,360,730 4,278,120 4,360,730 4278,120 4,360,730 4,278,121 4,360,731 CURRENT LSSETS Sto¢k Debtors Cash a¢ bank in hat 4.267 162,586 559,551 5,176 170,436 438,174 4,267 207,940 511,366 5,176 214,956 390,883 726,404 613,786 723,573 611,015 CREDITORS: Amounts falling due wlthln one year 887.356 695,216 884,526 692,446 NBT CURRENT (LIABILITIES) (160,952) (81,430) (160,953} (81,431) TOTAL ASSETS LESS CURRENT LIABILrrIES 4,117,168 4,279,300 4,117,168 4,279,300 CREI DtTORS: fallin¥ due after more than one year io 422,579 292,532 422,579 292,532 NET ASSETS £3,694,589 £3,986,768 £3,694,589 £3,986,768 CAprrAL AND BESERVES Endowment Fund Restricted Fiillds Geiiei?l Fiind.. Incom¢ and Expenditure A¢oount 12 13 2,818,451 22,321 2,851,744 2,818,451 22,321 2,851,744 853,8 17 1,135,024 853,817 1,135,024 TOTAL CAPITAL AND RESERVES £3,694,589 £3,986,768 £3,694,589 £3,986,768 Registered Conwany No.. 06267911 The notes on page9 L4 to 22 form p￿t of the accounts. Signed on behalf of the Board of aovernors ..... Miss S R McQuillen Ch￿r of Gov¢mor8 1S.S.15 Approvedbythe Goven]ors:.,....,,....,..,......,... . Pa e13 CHA CROVE SCHOO IMIT D BY GUARANTEE co SOLIDATED CASH F OW STATEMENT FOR YEAR 31 AUGUST 2024 2024 2023 CASH FLOWS FROM OPEJLITING AcfiviTIEI S Net casl? generated by l (used in) oporating activities 269,916 280,4 I I CASH FLOWS FROM INVESTLYG A￿[VIT[￿S Intere61 from inve8tniellts Purchase of propety, plant and equipment Net cash generated by l(used kn) investing activities 9,734 (90,875) 129 (104,019) (81,141) (103,890) CASH FLOWS f4ROM FINANCING ACTIVITIES Repayment of ballk loans Ittterest paid (51,816) (15,582) (47,893) (15,181) Net c4sh (used in) fin8ll¢ing acttvities (67,398) (63,074) CHANGE IN CASH AND CASH EQUIVALENrs IN THE REPORTING PERIOD £121,377 £113,447 NOTES TO THE CASH FLOW STATEMENT Recollclllatlon of net Income/(expenditure) wlth net cash flow from operating a¢dvldes 2024 2023 Net incoine l (exp¢ndItt￿￿) for the reporting p¢riod (ag per the statemellt of fillancial activitl¢8) Adjustments for.. Depi'eciation and impairment chaTges Interest from inveskn¢nts Interest Paid Decreasd{incrw¢) in stock Decrease in debtors tncrease in creditors (292,179) 24,926 173,486 (9,734) 15,582 909 7,850 374,002 172,371 {129) 15,181 66,316 Net ¢asb flow generated by / (used in) operating ￿tivitieS £269,916 £280,411 b. Analysi8 of changes In llet cash l (debt) At 1.9.23 Cash flows Oth¢r ch4n At 31.8.24 Cash at b￿k ond in hand including overdrafts D¢bt du¢ within on¢ year D¢bt du¢ after more than oJe year 438,174 (52,925) (187.023) 121,377 51,816 559,551 (57,070) (131,062) (55,961) 55,961 £198,226 £173,193 £3711419 P& e14 HAFYN GROVE SCHOO IMITEI D BY GUARAP4TEE NOTE TO THE ACCOUNrs ASAT31A UST 2024 I. ACCOUIYTING POLICIES Ba$ts of Ac¢ountlng Th¢ 8¢¢ounls h&v¢ b¢en prepaTed under the histori￿1 cost conv¢ntion with iteins re￿gnISed at cost or transaction valu¢ imless otherwise stated in the r¢l¢vant notes. Th¢ fiiiallcial statements have been prepared in accordance with Accounting and R¢porting by Ch￿Ities., Statem¢nt of RecoTnmend¢d Prnctice appliGabl¢ to charities preparing their accounts in arwid￿¢¢ with th¢ Financial Reporting Stand8rd applkthle in the UK and Republic of Irel&nd (FRS 102) (issued in October 2019) - (Ch&ritie8 SOIU) (FRS 102)), the Financial RepoTting Standard applicable in the UK ond Republ1¢ of Ireland (FRS 102), the Companies Acl 2006 and the Charities Act 2011, The coJNJany limited by guarante¢ is incorpor&t¢d in England. Th¢ accounts are presented in ster11t￿, The School constitutes a public benefit entity as d¢fined by FRS 102. The governors are required to mak¢ judgements, e8timat¢s and a8sumptions that are reviewed on all ongoing basis and are bgsed on historical experien￿ and other factors that are considered r¢l¢vant, including fytwo events tbat are considered r¢asonabl¢, In the goveroois, opinioJ a Si￿lfIcant risk is the estimate and assumption for d¢pr¢ciation tI￿t the reported tllDoimts ofasset8 and liabilities and the reporlEd amoullts of revenue and ¢xpenses during the r¢poittng period. Golng Coll￿rn Post year end th¢ governorg made the deoisloii for Ch&fyn GTove SGELool to joitt the edu¢Rtiortal group United Churckn Srhools Tnjst (part of United learning). On l May 2025 tho Governors sign¢d an agreonKnt to transfer the trade and assets of Chafyn Grove S¢hool to United Church Schools Trust. Tb¢ Chafyn Grove School Charity will then und¢rlaice an Ord￿lY close and be dissolved. As suGls th¢s¢ ac¢ounts are not prepared on a goiiig concern basis and Iiav¢ b¢en prepaled op a ¢e8satioll basis. The Gov¢rllof8 have reV1¢w￿ th¢ assets and liabilitie5 present¢d in the financial stat¢rn¢nts, A8 the activities will be transferred ill th¢ir entirely, Ih¢y dAd. not consider that ally Ch￿￿￿¢S to tlie value of the ass¢ts and liabilities required a8 a result of this. Con$olldAtlon Th¢ fin￿￿la1 statrmentg ¢onsolidale the results of a)afyL Gtove School Limited and Its wholly-owned Bubsidiaty Chafyn Gra￿ School Enterprises Limited on & line-by-line ba818. A separate Statement of Financlal Activities for the charity h&8 not been pr¢sellt￿ beo&use it has tak¢J iulvantage of the ¢xthiption afforded by s¢¢tion 408 of th¢ Con￿an1¢S Act 2006. Turnov¢r Incon￿ is Tecognised when the charity has entitlement to th¢ funds, any perforniance conditions attached to the item(s) of income have been inet, it is probable that th¢ income will be receiv¢d and the amDilllt ca be m¢asured reliably. Turnover Jn08tly iq)rcs¢nts pupil8' gr0$8 fee8 and eAtr&s, les& bursaries, di8couiits and scholarghips and is accowit¢d for in the period in which IlLe s¢rYic¢ is provided. Expendlture Expcndilure is ac¢ounted for on an acrruals basis. The School is not r¢gi8tered for VAT aod all costs include input VAT where this has been charg¢d, CIwit&ble aotivitieB includ¢ all expenditure lllourr¢d in meeting the educfltional aiid dornestic needs of the pupils. This is Considered to b¢ on¢ activity. Support COBIS ar¢ all attributable to th¢ otte charitsble activity and consist of adtninistratioll costs, in¢ludiiig salaries and offic¢ ¢osl8, JwI(eting, travel expenses, recruitment and bad debts. G0ven￿n¢¢ cost8 comprise the costs of audil., legal advlce and compliance with wnstitutiollal and statutory r¢quir¢ments. Tliey include a proportion of the salaries of members of staff who a￿ ellgtsged in these aotivitLeS, apportiolled on th¢ basis of the tin￿ spenL Governance costs are incliided within charitsble aotivitl¢s. e 15 CHAFYN GROVE SCHO LIMITED BY GUARANTE NOTES TO TFIE ACCOUN'TS AS AT 31 AUGUST 2024 I. ACCOUNTING POLICIES (CONTINUED) Tanglble Flxed Assets Educational equipment lJ6ed d1￿ctlY in canyillg out the ¢barit&ble pu￿oseS of th¢ school x& written off on quisit10￿ ¢xcept when acquired as PaT¢ of a llew devolopment project. Oth¢r fixed as8ets costing more than £5,000 are capitalised. Depreciation 18 ¢ai¢ulat¢d lo I￿lte off the fixed ass¢ts oY¢r their expected useful economic lives as follows,, Fre¢bold buildings (excluding 18 Bourne Avenue) 21/ko Straigbt Ilne basis Temporary buildings 100/0 $ts7igkt line basis Motor vehicles 250/0 straight line b￿18 Sports facilities IOn/o straiglit line basis FuTlliture and ¢quipmottt'. 250/0 straight lin¢ basi8 Lighthlng Protsction System 51J/u 8traight line basis A llil rate is used for freehold land because, In the GovernoT8' opillion, its life ts oonsidered to be indofinite. A nil rnte is also used for 18 Bournc Avenue a5 the Governors ar¢ satisfied that its i￿￿k¢t value is not less than th¢ bookvaluc in the acrounts. Carryillgvalues are Tevi¢w¢d annually and provision rnade, if n¢c¢$sary) for any impainnent in value. Illvestments Th¢ investtll¢nt ill the subsidlary company is valu¢d Y4t COSt less provision for itnpairmellt. Stock Tknis consists of catering stock and itoms for resale in the S¢hool Slwp, and is stated at the lower of ¢ost and net realKsable Yalu¢, Debtors Debtors are measuied at the amounts th¢ charity anticipates it will receive froin a debt or the anwullt it hY¢8 paid ill advance for good8 or s¢rvires, Cash al bank and In hand Casb at batsk and In hand includes Gash and cath on d¢posit. Credltors Cr¢ditors are meagured at the amoullts th¢ Charity ￿lt{C1pate8 It will pay to sottlo a debt or the amount it has T¢c¢iv¢d as an advance PELyment for goods or s¢rvices it nwst provide, Fiuanelal In5trumcnt$ The Gharity only has fLnan¢ial assets aJJd liabilities of a kind that qualify a3 basic fmallcial instruments, These initially r¢cogllis¢d at the amount receivable or payable alld sub8equeiitly measured at their Settlem￿lt valiie with tho ¢xoeption of th¢ bank lowis which are sub5¢qu¢nlly ineasured at the carrying value plus accrued interest less r¢payu]¢nt8, Tlie interest cliarge in th¢ accounts 15 calculated Using th¢ effectiv¢ interest inethod. Pen$lon Costs Contributions in r¢sp¢¢t of the d¢fined contribution schemes operated for all staff are charged as expelldi￿re In the pei'iod to which they relate. Fund Ao¢ountlng Wh¢X¢ th¢ Governors have set aside certain amounts out of the schoolts general fimds for sp¢¢ific purpDs¢s, thes¢ are referred to a8 'deSIgnat￿ fvnds, and &c¢ount¢d for separately. liicome arising on desigtsated ￿ndS is credited to the general fund and capital gains and losses a￿ rr¢dited or oliarged to tho desigttat¢d fund on which they aTOSe. Wh¢n donations r¢ceived for specific purpos¢s they are credited to s¢parate T¢Stricted fi￿d$ and any illcom¢ arlsing 15 ¢r¢dited to the same fvnds. The 8¢F￿01,8 original freehold land 4nd tli¢ buildings thereon are legally tb¢ property of the original rily and ar¢ held on ¢ndowmeiit for th¢ PWFoses of the school. Amounts speut from genwal in¢on]e improving the sokool's buildings th¢irfor¢ ¢onstitut¢ a tr£￿Sfer lo th¢ endovmwnt fLind. e16 CHA ROVE S HOOL LIMITED BY GUAR EE NOTES TO THE ACCOUNTS CONTINUED AT31AU UST2 24 2. GRANTS AND DONATIONS 2024 2023 Don&tions 24,899 9,007 3.1 ANALYSIS OF TOTAL EXPENDITURE - 2024 St&ff Costs De reciation Oth¢r Cijgts Total 2024 Total 2023 RAl$fing funds S¢hool Shop cost of sal¢s CharitAble actlvlty-operAtlon of the sehool Direct ¢08ts'. Teaobing stsff Educational ¢osts C08t of extra8 Household Est&blisbm¢llt 3,206 1,709,304 1,709,304 59,696 276,338 610,946 548,741 3,205,025 1,523,615 68,990 305,805 545,739 472,122 59,696 171,377 260,394 237,802 729,269 104,961 350,552 137,453 2,302,270 173,486 173,486 2,916,271 Support costs of scbooling,. School administration Interest payable Govcrnance cost8 (nots 4) 267,455 182,494 15,582 95.352 449,949 15,582 125,069 385,689 15,181 43,954 444,824 29,717 297,172 293,428 1,022,697 590,600 Cosl's of operation of the 5Gbool 2,599,442 173,486 3,795,625 3,361,095 £2,599,442 £173,486 £1,022,697 £3,795,625 £3,364,301, 5.2 ANAL YSIS OF TOTAL EXPEM)ITURE- 2023 St4 Costs De reclatlon Other Costs Total 2023 rotL712022 Ralslngfvnds School Shop CONt ofsales Charlt(4ble acdvliN-operatJon oflh¢ s¢hool Direct Gosts.. T¢aching stqff Educational costs Cost ofextra Household Establi&hMenÉ 2,289 917 3,206 5,499 1,523,615 1,523,615 68,990 305.805 545, 739 472,122 1,494.265 60,986 260,863 502,053 431,29fj, 2, 749,463 68.990 185,559 228,291 186,447 120,246 317,448 113,304 172,371 2,074,613 172,371 669,287 2,9J6,27J Support ofs¢hooling.' School admlnistnztion IKtereNtpayable GoveYnt7nce co,sts Inote 4) 231,371 154,318 15,181 18,246 385,689 15,18J 43,954 353,682 J3,884 40,382 25, 708 257,079 187,745 444,824 407,948 Costs ofoperatlon ofthe s¢hool 2,331, 692 172.371 857,032 3,361,095 3,157.411 £2,335,981 £172,371 £857,949 £3,364,301 £3.162,910 sUpp￿t ¢osts ar¢ the ad￿l￿]Str￿tive ¢ost8 ill¢iirr¢d to enable th¢ school to caliy out th¢ oJ)¢ ¢harit&ble activity. CIIAFY GROVE SCHOOL IM BY GUARANTEE NOTES TO TIIE ACCOUNTS FOR THE YEAR ENDEI D 31 AUGUST 2024 4, GOVERNANCE COSTS 2024 2023 Staff costs Legal atsd professional fecs Al￿1t0T5, remuneration: 29,717 84,072 10,200 1,080 £125,069 25,708 8,670 9,576 Audtt Other services £43,954 In con]mon with otlL¢r busillesses of OUT siz¢ natiwe the Cornpany us¢s it8 auditors to assist witli the prep&r&tioii of tho fuUMci￿ statements. The auditors ￿s0 carry out an a$$uranc¢ r¢vi¢w of tbe siibsidiary ¢ompw)y Cliafyn Grov¢ S¢hool EtsteTprises Limited. In¢luded withii) professionfll fees &bove18 £2,880 paid In Ihe year lo Woolley & WalLis, a finn in whi¢li Mr A J A Don￿d, a Goveri)or, is a s¢nior partn¢r. No amoiints were outstanding as &t 31 August 2024. 5, STAFF COSTS 2024 2023 Wages and salarie Sooial se¢urity ¢08ts Pensioll CQSts 2,211,488 1,978,788 184,516 164,335 203,438 190,858 £2,599,442 £2,333,981 The number of employees wbose emolum¢nts (¢x¢luding employer pension contributions) exceeded £60,000 wer¢: 2024 2023 Gross eiD luments £60,000 - £70,000 £90,000 - £100,000 For tE¢8¢ two eMplO￿¢S (2023., on¢), retiTement benefits tw¢ accruing ill a d¢fined contribution p¢nsion s¢heme. Th¢ rontributions arnouoted to: £20,542 £15,035 The total paid to Icey management personnel of th¢ School during IILe y¢ar (including p¢tssion Fontributions) Wa8 £468,780 (2023: £395,751 excluding pension ¢ontiubutions). Tlie tolal t¢rillinatioii payineiits charged by the Scbool and its subsidiary foy tlie year to 31 August 2024 was £51,149 (2023: £Nil), Jone of which was oiitstanding at the year aid (2023: £Nil). The School's policy for pny necessary r¢dwidan¢y or t¢Tmitw¢ion paymertts is settled IJ a¢cordance with tlie appropi'iale legal advice, Tlie average llumbers of employ¢e8 (some part till￿ only), k￿alys¢d by function, were.. 2024 2023 T¢aching Household, establishtn¢Dt and adminislration Peripatetics 38 38 li 34 35 li 87 80 The Governors received no remuneratioll IJ eitb¢r fmftncial year, No Governors had T¢imbursed travel expenses in eitlier financial year. CHAFYN GROVEI SCHOO LIlVtTTED BY UARANT TrIOTES TO THE ACC UNTS co ASAT31 GUST 20 Tl UED 6. TANGIBLE FIXED ASSETS (COMPANY AND GROtrp) Freehold Land and Tunporary Buildin BuildÉn Motor Vel)3cles Sports Furnittire & Facilities ￿￿ment Ul Total COST At I septemb￿ 2023 Additions Disposals At 31 August 2024 DEPRECIATION At I September 2023 linpairn]¢nt charges Charge for the year Disposals At 31 August 2024 NET BOOIC VALUE At 31 August 2024 At 31 August 2023 6,183,459 49.621 56,538 100,300 509,778 932,912 41,254 (3.329) 970,837 7,782,987 90,875 (3,329) 7,87a,533 6,233,080 56,538 100,300 509,778 2,009,149 56,538 79,521 449,237 827,812 3,422257 112,314 6,926 11,285 42,960 (3,329) 867,443 173,485 (3,329) 3,592,413 2,121,463 56,538 86,447 460,522 £4,111,617 £4,174,310 £13,853 £20,779 £49,256 £60,541 £103,394 £4,278,120 £105,100 £4,360,730 Capital con]mittnent8 ¢ontra¢ted for but not provRded fot at the year end wero £Nil (2023: £Nil) 7A. llYVESTMETrIT INCOIWIE Investn￿lit income Coxisists of:. 2024 2023 Interest r¢c¢iYable on ¢ash depo81ts £9,734 £129 7b. INVESTMENT IN TRADING SUBSIDIARY liivesttn¢nt in subsidi Totul Cost at I September 2023 and 31 AugLiSt 2024 £1 £1 The investrnent in subsidiary cunsists of l ordinary slwre (IOOO/o of the share capital) In Chafyn Grove School Enterprl8es Lin]ited (Company nuu]b¢r: 06774790 alld r¢gi8tered office at Bourne Avenue, Salisbilly, Wiltshire I SPL ILR). The prin¢ipal activity of the subsidiuy is li￿ exploitation of th¢ revenue-earning capabilities ofthe, fa¢ilili¢s at Chafy] Grove School. The subsidiary ¢ompany8 taxable Profits have bo¢n gift aided to tL¢ S¢hool. A summary of i¢s trading r&sults is shown below. Audited accounts have be¢n filed witli the Registrar of comp￿71¢5. 2024 2023 Turnover Cost of sales 47,134 46,927 (917) 46,010 (4,361) 41,649 (26,833) 14,816 .(14,81'6) Gros5 profit Admini8tr&lion ¢xpense$ (excludins facliity fEe payable to Chafyn Grove School) 47,134 (1,587) 45,547 (22,739) 22,808 (22,808) Facility fee due to Chafyn Grove Scb(K>l (¢ltininat¢d on consolidatLOI)) Gift aid payable to Chafyn Grove School T￿atiOn Profit aftel taxation and gift aid retained by the subsithry The assets attd liabilities of Ch&fyn Grove School Eiiterprises Litnited at the finan¢i41 year ¢nd w¢re: ittent asset8 Credilor$: amovjts falling due witbin one year Total net assets 84,505 (84,504) £1 79,844 (79,843) £1 A￿egate Sh￿e capital and r65¢rv¢s £1 £1 CIIAFYN GROVE SCHOO ITED BY ARANTEE NOTES TO THE ACCOi)NTS CONTIN AS AT 31 AUGUST 2024 e19 8. DEB TORS Th¢ Group 2024 The Company 2024 2023 2023 F¢es and extras Pr￿ayrnents Amoiint due from subsidiary Other debtors 61,232 29,135 55,107 43.126 61,232 29,135 81,676 35,897 £207,940 43,126 77,075 39,648 72,219 £162,586 72,203 £170,436 £214,956 There are no debtors fallthg due after inore than one y￿r (2023.. £Nil) 9. CREDITORS: Amounts falltllg due wltbln one year The Group 2024 Th¢ Company 2024 2023 2023 Ballk loans (note 10) F¢¢s &iid extras re¢¢iv¢d iti advaJ¢e Trade ¢reditorB So¢ig1 se¢wity and other tsxlltiott ACQn￿lS 57,070 615,709 112,269 52,674 49,634 52,925 409,303 146,344 41,916 44,728 57,070 615,709 110,519 52,674 48,554 52,925 409,3 144,5 41,9 43,708 £887,356 £695,216 £884,526 £692,446 10. CREI DITORS: Amounts falling due after more than ono year (Company Jnd Group) 2024 2023 Fees and deposlls received in advan¢¢ Ballk loans 291,517 131,062 £422,579 105,509 187,023 £292,532 Th¢ bank loans ar¢ seow¢d by legal oharw over the school's fr¢ehold property. These loalls aro i¢payable a8 follows: 2024 Within oli¢ year Belw¢¢n ono and two years Betw¢ell two and fiv¢ years 57,070 60,620 70,442 52,925 130,706 £188,132 £239,948 The $¢hool ha8 entered into an iiiter¢st rat¢ swap and fixed rate loall agreernents so as to fix the interest ratss on these loans as follows,. 2024 2023 Floatlng at base plus 1.75ts/0 # Floatiiig &t base plus 2,250/0 109.116 79,016 139,611 100,337 £188,132 £239,948 # Followillg tke end of the fixed rate period tbo loan reverted to a floating rate of base rnt¢ plu8 1.751/1 o, 11. DEFERRED INCOME 2024 2023 411,709 376,924 (396,817) (363,175) 794233 397,960 Brought fonvard at I Sept¢rnber 2023 Rel¢as¢d in tlie year D¢f¢ffed in the year Cattied fonvard at 31 August 2024 DefeiTed Tcpiesents pupil fees received in advance foi future yeats, £809,125 £411,709 CHAfiYN GROVL SCHOOL LIMITED BY GUARANTI , NOTES TO THE ACCOUNTS CONTINUED AS AT 31 AUGIJST 2024 Pa ¢20 12.1 ENDOWMENT FUND- 2024 Incomel eiiditui'e Transfer froin Gengi'al Fund At 1.9.23 At 31.8,24 The Galloway BUrS￿Y fund Capital A¢¢oullt A¢cuinulated R¢serv¢s 7,544 75,585 2,768,615 7,544 75,585 2,735,322 (95,967) 62,674 £2,851,744 £(95,967) £62,674 £2,818,451 The Galloway Biirsary fund is used to provide iiicoine foi. bui'sary iise. Tlie balance of the Capital Account consists mainly of tlie sw'plus on tILe disposal of two pi'opeities in 1982 and 1983. The Accumulated Rese.rves shown as part of the Endowment Fuiid represent the extent to which acoujnulated in¢oJn¢ has beeii used to fuiid llnprovements to tlie S¢hool's land and buildings whicli are endowed assets. 12.2 EJVDOWMENT FUND- 2023 Incon7e/ As at 1.9,22 Lr endiftdre General Fund As at 31.8.23 The Galloway Bursaryfynd CopltalAccount A¢cumulc7ted Reserves 7,544 75,585 2,821,369 7,544 75,585 2,768,615 (95,308) 42,554 £2,904, 498 £(95, 308) £42,554 £2,851, 744 13.1 KESTRICTED FUND - 2024 At 1.9,23 In¢oine enditure At 31.8,24 AstroTurfFund Othei r¢strioted funds 21,271 2.050 21,271 1,050 (1,000) 23,321 (1,000) £22,321 The AstroTiii'f Rilld was created for rfie replac¢ment of the Scboolls astroturf pitch. 15.2 RESTRtCTED FUND - 2023 Ai 1.9.22 Incon7e endltur8 At31,8.23 Other restricledfunds 2,200 (2,200) 2,200 (2, 200) CHAFYN GROVEI SCHOOL LIMITEI D B Y GUARANTEE NOTES TO TIIE ACCOUNTS CONT.INUEI D AS AI, 31 AUGUST 2024 e21 14.1 ANALYSIS OF NET ASSETS BII TWEEN VUNDS - 2024 Geneizl Fulld Resti'i¢ted Fund Eiidowment Total Fullds Land and buildings Othei. thigibl¢ fixed assets Current assets CLirrent Kiabilities Long t¢mi liabilities 1,206,324 166,503 696,859 (858,821) (357,048) 2,905.293 4,111.617 166,503 726,404 (887,356) (422,579) 22,321 7,224 (28,535) (65.531) £853,817 £22,321 £2,818,451 £3,694,589 14.2 ANAL YSIg OFJVET ASSETS BETIIEENFU]VDS- 2023 General Fund Restricted Fg4nd Endowmenl Fund Total Funds Land and buildings Other t0ng1ble.f￿tt￿ assets Curren.1 assets Cyprent lillbililies Long lerm Ilabllltles 7,210,135 186.420 606,242 (068, 753) (199,020) £1,135,024 2,964, J 75 4,174,310 186,420 615, 786 (695,210) (292,532) £3,986, 768 7, 544 Q6,463) (93,512) £2, 851, 744 15. COMMITMEDITS Pejision eommfitments The school operates thL¢¢ defned contribution schemes on behalf of the employees, The assets of tliese Schemes are held separately fi'oin tliose of the school lli ali illd¢pend¢ntly administered fund, During t]1¢ y¢&t' lo 31 August 2024, the employer's contributions a]Dol￿ted to £203,43 8 (2023; £188,782). £30,628 was owed to the scheine at die yew eiid (2023., £29,7 19), Operating lease commitments At 31 Aiigust 2024, the total of future minimiim lease payments linder non-cancellable opei-Gltllig leases, in Tespect of equipmeiit, was as follows: 2024 25,094 69,462 1,950 2023 15,743 45,567 Amounts due withit] one year Amounts due b¢lween two and five Y¢￿.$ Amoiints due iii Jnoir tliaii five years £96,506 £61,310 The arnoullts cliarged u an expense during the ye￿, foi. op￿.atIllg lea3es wei'e £21,636 (2023., £16,257). 16. RE< LATED PARTY TRANSACTIONS The taxable pi'ofits of the wholly owned subsidiary, Chafyn Grove School Entepi'isos Limited, are gifj aided to the Sebool, in addition to this, the siibsidiary pays a yeai'ly facility ree. Til 2023 these totalled £45,547 as detailed in Note 7b (2023: £41,649). At ttLC y¢ai' eiid, Chafyll Grove School EnlepriL8es Limited owed Chafyn Grove School £81,676 (2023., £77,075). 17. POST BALANCE SHEE< T EVENT On l M