Charlty registration number 1121132 Company r•gistrntion number Oe188419 (England and Wales) HOPE HOUSE SCHOOL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
HOPE HOUSE SCHOOL LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr J Barrie Mr B Jone¥ Chalr Mr B Jones Charlty numbgr 1121132 Company numb8r 061B8419 Regiytered offlce H¢we Scheol Bamby Road 881derton Newark Notts NG24 3NE Auditor Rc¥3ers SpenceT Newstead House Pelham Road Nottingham NG5 1AP Senior Stsff Mrs Michelle McRae - Headleacher
HOPE HOUSE SCHOOL LIMITED CONTENTS Page T1868. report Statement of Trustees, respon$ibilltie8 Independent 8udito¢s report 7-10 ststement of financial xtivit 11 Balance sheet 12 Statement of cash tlow$ 13 Notes to th8 financial statements 14-22
HOPE HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual reFXJrt and ffinancial statements for Ihe year ended 31 December 2023. The financAal ststements have been prepared in accordance wth the accnunling policies set OLrt in note 1 to the financial slotemenls ¥rKI wmply with the Gharity's governing d0Ment. the Companies Act 2006 and "Accounting and Reporting by Ch•ritiè$.' Statement of Recommended Praclice applicable lo charities preparir4J Iheir account5 in accordance Yh the Financial Reporting Standard applicable in the UK and ReputAic of Ir8laTrJ IFRS 1021. las amended for accounllng per5 commenung from 1 January 2016). Objgctlves and actlvltles Hope Houge School Is a small Inderendent special school for students with a primary need of aullsm spedrum dO8order and related speech and language communlcatlon needs. Some 81udents also have other eomplex6ties such a8, ADHD, PDA. Many of students have a disiointed educalion hlstory, often dug to long tem schts)I absence. All students h8ve an Education Health Care Plan. Our Vlslon... for every young person to fulfil thèir peAson81 polenli81. Hope Hous& school provKles every student with support when they need it- for them lo develop info h8ppy, he811hy. and $8GuAp young adulls WIK) are prgpar8dloradutt lifg. Our Core Values ...A based on the COgnrtn that many of our students have h8d diifKult Jofftys before 8rriving 8t Hope Hiwse school. Educ811on81 provlsion has been inappropriate, often Trsufting In sever81 adveryd8 8xpeiy8nces for bolh the young person and Ihelr fgmity. Th8Trlore, we alm to transfom? Ihose 88rty ayperiences of educalion by addTrssing any banyors to learning through both individualised aAMI pgrsonalised 188ming expeiyences. Al the same time, we acknowledg8 the import8nce of8 sfudent's SOCi818nd emotional development and the importance of wothing logg¢her with pee Bnd a(Jutts, to build positive relationships. Relafionships Unde1 our values at Hope House school. We undetand the poworof building positive relatnshS to create and fost8r a cultur8 of wam71h, nurture, inlegnty, mulual rnspgcl, and knndness within the school OnvinmaDt, valuing the indrrfidual al all times. wh ts reftect8d by ensuring the yoe of ouryoun9 P8opl8 is heard through PRIDE fPe8ts. Respèct, Independènce, Detemln8tlon Sno Eouallty) FORCE. The school Is In a rural settlng In 8alderton, near Newark, NottlnghamshSre. It Is housed In several Independent one storey buildings, sel out in a 'u' shape around a central grassy area which is currently being develyd into a multpsensory space. There are other detached hvo slorey buildings in the grounds, one used for post-16 putils and the other for adminislralion. There is an outdoor space devoted to forest school activities and a Wofxlen play area with specialist equipment for pupils lo use as part of their curriGulum and at group soci81 tiffEs. An outdoor area attached to the low8r school dassroom provides an enhanced provision to extend children's Igarning and exploration. Thore 1$ a s8parale building dedicatad lo additional curriculum activrbos such a5 mu$1¢ and food tethnology. It houses a well-èquipped sensory r¢)om that supports activities that are bespoke to IndNidual needs and group actwilies. A multi-agency room provides sp8ce fof I'.1 8esslons1888essment and the delivery of ¥ecffic programs of interwenlion. In additlon lo speciflc reading areas in each classroom, there is a small mmunal library for pupils to access as part of the focus on promoting reading for paSure. The school has an ambitious and engaging curruluM whith is broad and rkh lo ènable all our yourwJ people to reach their potential as Ihey Prepare forAdulthood IpfA). The school's currirJJlum offer is dive. c4tering for the needs of pupi15 from earty Engagement through lo Level 2 qualifications. The PfA curriculum is accT&Jilod through ASDAN vla personalised pathways. There are various enrichment opportunf(ies arbd memorable experiences for all students. Includlng vlslls lo Natlonal Trust places of interest and local landmarks to embed student's understsndlng of cultural dlverslty and Brltish values. All student5 have regular access to the local community and travel far and wide lo promote skills for independent living. All Stont$ engage in careers education and, in addition to this, older $tudent$ re1ve careeT guidaneè from independent advksois. Pupils have the option lo access riding foT the disabled IRDA) a5 part of their provision. Weekly swimming and tennis lessons are also provided wthin our local community. Multi-disciplinary professionals regulsrfy visit the school. indudiro an educat¢onal psychologisL occupational therapist and a sFeech and language therapi81. Al stsff receive training from the Autism Educational Trust to ensure we have. the knovAedge and skllls to provide a per80nalised prowsion for our sludents. We are currently on a journey to become a recognlsed trauma-infomied school.
HOPE HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Fln•ncl•l revlew 2023 BuslnKs Revlew are pkased lo highlight the recent increase in pupil numbers and the subsequent positive impad on the school's operations and financial stability. This growth has been a teslamenl lo the exceptional educational envIrcMent and the unwavering commitment of our staff ond adminislr8tion. Over the past ademiC ygar, the School has experienced a notable increa8e in pupil number5, Wth a rise from 24 10 30 studont$. This growth reftects the yth¢)ol's grng reputab.on for providirrfj quality edtscatlon arKI fostering a Supportive leaming environment. Th8 growth in pupil numbèrs al Hop8 House School has been a tranS1m818 experience for our insllluUon. The InaSed student body ha5 positively impacted the running of the school. allowing for expanded educational opportunities and person81ised Instrueilon. FtstheMe, the financial stability resulting from this grtrmh has empowered us lo invest in our infrastructure. Thero wa$ also a fea upllft put In place Increasing the average annual fee lo £66k. IncomelFundlng Over the 22123 academic year, th8 ha8 experienced a significant inGrease in incomeifunding. amounting to £387K hlgher than budgeted. This substantial boost in financial resources has had a profoundly poslllve effect on the overall running of the schtYJI and cashflow. th this irueased income. we have begn able lo enhgnGe various aspects of our educational offerings, providirkg an 8nrich8d 18arning experience for all our students. The additional funding has allowed to invest in modern leachlng Mateal$, upjated technology, and Improved fadlities. ensuring that our students have access to the best resources available. As part of our commitment to maintaining exceptional standards, tho school continues lo undergo regular quality assurance wsits. These visits help us identify areas for improvement and ensurè that we are ton$lantly delivering the highest standard of education lo our students. The addstional inGomelfunding has allowed us to implement the recommendation8 from these visf(8 promptly, furthef enhanang the quality of our educational provision. In lino vith our dedication to financial transparency, we wll regularfy review school fees to ensure they cover all the costs associated with running the school. This proactive approach ensures that our ffinanclal resources are effecbvely allocated, enabling us to maintain and improve the quality of educallon vthila remaining financially Sustainable. Overall, the signiftcant increase in incomellunding over the 22r23 academic year has brought about numerou5 positwe Changes to wr school. It ha3 allowed us to enha our educational offerings. expand our capacity, and ensure the continuous Improvement of our educational prowsion through regular quality assuranc8 visits. We remain wmmitted to providing an excepllonal educatSonal experienc& for all our students wthile ensurfng finandal stability for the lon*lem) sustainability of the sthool.
HOPE HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Flnanclal p•rfomiance Summary The school experienced a notable increase in income attribule¢J lo a rise in pupil enrollmenl and fee uplifts. This led to a significant Ix)o$t in revenue ¢omp3red lo the pViouS year. However, overhead costs also saw a substsnlial increase. This rise in expenses impacled the financlal landscape of the school. th gard$ lo the surplus improvement, despite the SUTge in overhead costs, the school managed lo achieve a surplus of £565.000. This marks a consider8ble improvement from the previous year's deficit of £27,000. Overall, the school's financial performance for the year demonstrates effective management in nawgating incre8sed expenses while caprtalizing on revenue growkh, resulting in a heatthier 5UTpIus. RerVeS pollcy It is the policy of the Charity lo maintain unrestricted free reserves at a suffieient level to fnance three months trading. Assuming monthly expenditure of £100k per month. the Charity has been able to satisfy this target wlh a balance in the bank amounling to £543k at 31 December 23. Unrnstrfcted Funds The unrestricted funds of £582k VAII b8 rolled over into the 2024 year. Prlnclpal source of fundlng The wincipal source of funding is thal of various MidlaTrJs-based councils, in particular Nottinghamshire and Lincolnshire County Councils. Prlnclpal rl$k¥ and uncertalnties The Trustees have examined the major strategic, business and operats'onal risks which the charity faces and confirni that Systems have been estsblished to enable regular reFQrts lo be prOdUd so that the necessary slep8 can ba taken to lessen Ihe8e ri8k8. 2023 and 2024 expeetstlon overrflew The positive expectations of last year's review have been achleved and Trustees look fomard to an increase in pupil placements and the DfE have given approval for additional places from September 2023. Lo&4 Authority support ha$ proven positive. The new Headle8cher has developed the school in every area Iuding Ihe curriculum, teaehiryj and leaming, professional develcff>menl and budget control and management. A$ well. strategic decisions taken over the last 3 years means that the school is considered efficient A rDbu81 structure, reportlng and process driven controls also means that business can be managed effeclivdy and is unlikely to encunter the same type of challeng88 seen over the last 4 years. Trustses are in discuwon wlh the land owners to further develop the school and site in 2023124. Slructure. govemance and management Hope House School is a company limtied by guarantee by ils Memorandum and Articles OfAs)ation5 datttl 26th August 2007. Appointment of trustees The Trustees, who are also the directo[3 for purpose of company law, and th served during the year and up to the date of signature of the financsal slatements were.. Mr J Barrie Mr B Jones
HOPE HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Truste• Inductlon On joining Hope House Sthool New Tru$tee¥ will undergo an induction which includes the Independent School Stsndards and the Charity Commision WelGome Pod(. The irKluGtion will be G8rried out by the Chair Trustee and supported by the HR Manag8r. The three core functions for Trustees are., l. Ensuring clanty of vi&on, ethos and stratsgic direction 2. Holding the H&adtea¢her I Senior Leaders a¢Unt for the educational perfoThnan¢8 of the school and its pupils, and the p8rfomiance management of staff 3. Over8eelng and ensuring effective financial p8rformanc8. Tru8tee Trnlnlng Trustegs recelve the followng tralning.. Safeguarding Chlldren In Edueation Safeguarding for Governors (Chair Trustee) DSL (Chair Trustee) Legionella (Chalr Trustee) Data Protectn Keeping Children Safe In Education- Copy issued Annually and confirmalitin of receipt goined Thg Tru$tges aro guidod by lh8 Teach8r vtho advise5 them on the key asrÉ¢is of busin88S OP8rations and rsonnel. This intluded setling pay rises for the vthole staff and Increments for the Senior Management Team followng appraisals. Pay R8vIow The Headteacher Suppted by the HR Manager holds annu81 pay reviews, pay rates are benchmarked against Teachers Pay and Condrtions and Regional and Local Pay rates, NMLW is also taken Into consideratocm. Pay revlews are dIU95ed and approved by the Chair Trustee before implemenlalion. Unqualified, Lowor leval rol85 arKI non-leaching roles are reviewed in line Mlh NMLW and any increases are implernented from 1st April each year Management & Teaching roles are revSewed In Ilne wRh Teachers Pay and Conditlcffls any Incre88e8 are implemented fM 1 $1 September each year In¢reases OLrtside of the atove wll o¢cur %then,' Agreed contractually- Probationary Perilxl, in an agreed lime p8ri¢)d subject lo perfonnan Pay Parity- Additional responsililities are added to the role. either long terni or for an agreed period (cover at a higher level) and are equal lo other employees in the same role or IndivKluals reach a higher level of qualific*ion in line with the relgvant person speryfication and 1$ equal to other amploy8as in same role The above li8t is not exhaustive. and there may be occasions when the sthool finds it necessary to revi8W th8 salary of certain rd8s outside of Ihg annual review periods, for example highly skilled rolgs that cannot bg filled internally and hava high comp8tition externally in the labour mark81. Dl8cIo8ure of Infomiatlon to audltor Each of the Tru$teg$ ha$ confirmgd that there is no information of which they are awara which 1$ relevant lo the audit. bLrt of which the audrtor is unaware. They have further eonllrmed that they have tsken appropriate steps to identty suGh relevant infomalion and lo establish that the audrtor18 aware of such Infomiation. The Truslges, report was approved by the Board ofTfUStees.
HOPE HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Mr B Jones Chak Dated. .S.}..:... ,..¥V
HOPE HOUSE SCHOOL LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustegs, are als9 the directors of Hope House School Limited for the purpose of Gompany law, are responsible for preparing the Trustees, Report and the financial 8tstemen15 In aceordance with applicsble law #nd Unw lQngdom Accounting Standards Iuniled Kingdom Generally Accepted Aceounling Pr8Ctice}. Company Law reqLFires the Trustees to prepa financlal statements for each finand81 year which gThie a true and fair view of the stale of affalrs of the charity and of the incoming resources anL1 application of resources. induding the income and exFendilure. of the &oritable eompany for that yaar. In proparing th050 financial statemen15. the Trustees are required to.. - select 6Uitable aCcoUn9 polldes and then apply them con8islently: - obseNe the melhtrds and principles in the Charities SORP., - make ILKlgements and estlmates Ihat are re88onable and prudent,. $late whether 8pplicat4e UK AccoL¢ntlng Stsndards have been followed, subject to any materlal departures disdosed and explained in the financial ststements; and prepare the finanaal statements on the going concem basis unles6 11 16 inappropriate to presume that the charity 11 continue in operation, The Tnjstees are responsible for keeping adequate accounting record8 that di10 wth re88onabl8 a¢xuracy at any lime the financl81 position of the charfty and enable tham 10 8nsure that the financial statements comply with Ihg Companies Acl 2. Thgy aTe also responsible for safeguarding the asset5 of the charity gnd hence for taking reasonable steps for the prevention and detèction of traud and other irregulariles.
HOPE HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HOPE HOUSE SCHOOL LIMITED Oplnlon We have audlted the financlal 8tst8ment8 of Hope Hou88 School Limited (th8 'thartyl for the year ended 31 December 2023 ch comprise the statement of flnancSal actlvl1s, the balance sheet, the ststement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 The Financial Reporting Slandard applicable in Ihg UK 8nd Republic of Ireland Iunited Kingdom Generally Accepted Accounting Pracbce). In our opinion, the financial stalements.. give a true and fair view of the state of Ihe charitsble company's affairs as at 31 December 2023 and of incoming resources and application of re50urces. for the year then ended., have been properfy prepared in aceordance with United King(lom Generally k¢èpted Accounting Practice.. and have been prepared in ac£ordance with the requirements of the Companies At 20C6 and the Chaiitie8 Act 2011. 8asls for opinlon We conducled our audit in accordance wth Intemation81 Standards on Auditing {UKI (ISAS IUKII and appllcable law. Our responsibilrties under those slandards are furtheT described in the Auditorfs responsibiltties for the audit ol the financiol sta¢em8ntS section of our roport. W8 are indep8nd8nt of th8 charity in accordance Ihg ethical requirements that are relevant to our audlt of Ihe finandal statements In the UK, including the FRC'S Ethical stondord, aThJ we have fulfilled our other ethical re8ponsibil(ties in accordance with the$e reqLtiremenls. believe Ihal the aLKtil evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Con¢luslon$ relating to golng concern In auditing the financial slalemenls, we have concluded that the Trustees, use of the going concern basi$ of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identffied any material uncertainties relating lo events or CondOn8 that. Individually or collecbvely, may cast signffjcant doubt on the charty's ability lo conUnu8 as a wlng concem for a period of at leasl tsvelve months from vthen the financial statements are authorised for Issue. Our responsibilities and the resp)nsibililie$ of the Trustees with respe¢t lo going ¢oncern are described in the relevanl section5 of this report. Othfrr Infom)atlon The other information ¢ompri$es the irrfom181ion in¢luded in the annual report other than the finarcial slalements and our audrtorfs report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial ststements does not Cover the other infomation and we do not express any form of asyurance eonclusion thereon. Our responsibility 1$ lo read the other infomation and, in ¢Joing so, consider whether the other infomialion is materially inconsislenl wlh the financial ststements or our kno¥edge obtained In the course of the audit, or othemse appears to be materially misstated. If we identify such material inconslstencles or appafgnt material mlsststements, we are required lo determin8 whether this gives rise to a materfal misststement in the financial slalemenls Ihems&lve$. If, basgd on the work w8 have performed, we conclude that there is a m•teri81 misstatement of thi$ other infomiation, we are required to report that fact. We have nothing to pOrt in thi¥ regard. Oplnlons on oth8r mattars prn8¢rfb•d by the Compania8 Act 2006 In our opinion, based on the work undertaken In the course of the audft.. the information given in the trustees, report for the finanaal year for whid) the finanryal slalements are prepared is consistent with the financial statements. and the trustees. report has been prepared in accordance with applicable leg81 requirements.
HOPE HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOPE HOUSE SCHOOL LIMITED 1•ttgr8 on Ththl¢h we •rg roqulrod to rnport by ox¢gptlon In the light of the knOed and understanding of the charitable company and 11$ environment obtained in the cthrse of the audh, we have not idenlfied material misstatements In the trustees, report. We have nothing to report in respeot of Iho foll0vng matters in r8lalion to which the Companies Act 20C6 requires us to report lo you rf. in our opinion.. adequate accounting records have not been kept, or retum8 adequats for our audit have nol b88n received from branches not visited by us,. the flnanclal ststemenls arg not in agreemonl th the accounting record8 and retums., or ¢ertain disclosures of directors. remuneration speafied by law Are not made., or * we have not ceiVed all the information and explanations we require for our audit.; or the trustees were not entitled lo prepare the financial statements in accordance wih the small ¢ompanie$' regime. Responslblllilgs of Trustees AS explained more fully in the stalement of TnJ$tees' rewn8ibilities. the Trustees, w) are also the directors of the tharlty foi the wrpose of company law, are rèsponsible for the preparation of thè financial statements and for being satisfied that they give a true and fair view. and for such inlemal cortrcl as the Trustees determine is necessary lo enable the prep8r81ion of financial slalements that are free from material misstatement, whether du8 to fraud or error. In preparing the financlal statements. the Trustees are re8pon8ible for assessing the ehartty's abllity to continue as a goirvJ concem. disdosing, as applicable. matters related to going concem and using the going concem basis of accounllng unl$ the Trustees elther Intend to Ilquklate the charitable company or to ¢eas6 operab'ons, or have no realistic allemative bul lo do so. Audftofs responslbllltles for the audlt of the flnanclal statements We have been appointed auditor under the Companies Act 20C6 and section 151 of the Chariknes Act 2011 and report in accordance IhoseActs. Our obj8calve8 are to obtaln reasonable assurance about whether the financial statements as a whole are free from materfal mlsslatemenl, whether due lo fraud or error. and to Issue an audltofs report that indudes our opinion. Reasonable assurance is a high level of assurance trt is not a guarantee that an audit conducted in atrdance th ISAS (UK) Vrfill always delecl a material misslatemenl when it exists. Misslatemenls can arise from fraud or error and are consdered material if, individually or in the aggregate. they could reasonably be expected to influence the ewn¢yni¢ deasigns of users taken on the basis of these financial stotemenls. The èxlent to which our procedures are capable of detecting irregularrties, induding fraud. 18 detailed bel¢)w. The extethl of twhlch the audlt was consldernd capable of detectlng Irregularltles Includlng fraud Our approach to id8ntfying and a&sassing th8 risk of material misstatemant in r&spect of irwularities. including fraud and non-compllance wtth laws and regulation5, was as follows.. The engagement partner ensured that Ih? engagem4tt team collectivety had the approprialfr compotence, capabilrties and 8kn"11s to idenkn.fy c* retfjgnFse nonwcompliance wth applicable laws and rggulatsons. We entIfied the laws and regulations appliCae to the charitable company through discussions with trustees and other management. and from our knowledge and experience of the charity Sector and grant prgviders.. We focused on specffjc laws and regulation5 which we considered MBY have a direct material effect on the financial statements or the oparations of the group, including the Companles Act 2006, Charities Act 2011. taxat¥)n legIallOn and data wote¢ti¢)n, antFt¥ibery, employment, emiironmenlal and hearth and safèty legi4alion'. We a88es8ed the extent of omipliance with the laws and regulation8 idenliffied above through making enquiTie8 of management and inspecting legal correspondence,. and Identified 18WS and regulations were communicated within the audit team regularty and the team remained alert to irsstances of norFcompliance throughout th8 audit.
HOPE HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOPE HOUSE SCHOOL LIMITED We assessed the susceptibility of th8 financtal 5tatem8nts to material misstatement, including obtaining an understanding of how fraud might occur, by.. Making enquiries of management as lo where they ¢onsidered Ihere was 8usceptitxlity to fraud. their knovledge of actual, suspectgd and allegod fraud; Considering the internal eontrols In place to mltigate rf3k8 of fraud and non<ompllance wllh laws and regulations- and Understanding the de9n of the charitable companies remuneration p)liC$. To address the risk offr8ud through management bias and override of contrds. we.. Performed analylj'cal pr¢xre¥ to identify ary unusu81 or unexpected relationshlps: Tested joum81 entries to identify unusual transath'ons: Assessed Vdhether judgements and assumptions made in dtmining tho aOUnting eslimales sel oul n note 2 were Indlcatlve of potential è4as,' and Inve8ti9ated the rationale behind sIgnCont unusual tranSaCtn$. In response lo the risk of irregularities and non-compliance with laws and rogulations, we designed prcrtedures which Induded, but were not limited to.. Agreeing financial ststement disdosures to undertying supporting documentation., Reading the minutes of meelings of those Charged with govemants; Enquiriru of management as to a¢tu81 and wtential Illgatk)n and clalms., and Ravi8wing correspondence with HMRC. relevant regulators and Ihe company's legal advisors. There are inherent limitation$ in our audit procedures descrbbed above. The more removed that laws 8nd regulations are Irom financial transactions, the less likely it is that we would become aware of non•compliance. Audiling stsndards also limit th¢ audit prorEdures required to identify n¢)n-¢omplianc& with laws and regulations lo 8nquiry of th8 trustees and other management and the inspecb'on of regulatory and legal correspondence. rf any. terf81 misslalements that arise due to fraud can be harder lo detect than those that arise trom error as they may involve deliberate concealment or collusion. A further descripb'on of our responsibilities is available on the Financial Rep)rting Council's website at.. https'.11 VdWW.frc.org.uklaudilor$responsibilib"es. This description fomis part of our audrtor's report.
HOPE HOUSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF HOPE HOUSE SCHOOL LIMITED Usè of our report Thls report is made solely lo the charitable company's trustees, as a body, in accordanc8 with Chapter 3 of Part 16 of Ihe Companies Act 2006 and lo the charitabl8 company's truste8s, as 8 body, in accordance with Part 4 of the Charities (Acccunls and Reports) Regulallons 2008. Our audit work has been undertaken so that we might state to the charitsble MpanY'S trustees those matters we are required to slate lo them in an auditor's report and no other purpose. To the fullest extent p8rmitted by law, we do not accept or assume re$ponsibilrty lo anyone other than the charitable company and the charitable eompany's trustees as a body, for our audit work, for this report, or for the opinK)ns we have formed. Melvin Balley FCCA DChA ISenk*r statutory audltor Rogers Spgncer Chartered Accountant8 Statutory Audltor Newstead House Pelham Road Nottingham NG5 1AP Rogers Spencer is eligible for appointment as aLKlitor of Ihe charlty by virtue of its eligibility for appointsnent as audhor of a company under section 1212 of the CompanlesAct 20C6. 10-
HOPE HOUSE SCHOOL LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlctsd funds 2023 2022 Income and •ndovmi•nts from: Donations and legaries Charitable actbvlties Investments Other income 8,283 3.382 1,838.023 1,259.396 2,227 17 12,100 Total Income 1,860.633 1,262.795 Charitable actiwtie8 Flnance interest 1.294.214 1,280.790 1,093 8.998 12 Total rnsourcos •xpended 1.295,307 1,289.788 N•t Incom•lloxpgnditurn} for the yearf Net movgment In funds 5fj5,326 {26.993) Fund balance8 al 1 January 2023 17.428 44.421 Fund balances at 31 December 2023 582,7S4 17,428 The statement of financlal activitles includes all galns and losses recognised in the year. The slalgment of financial actiwties includes all gain5 and losses recognised in the year. All income and expenditure darivg from continuing actwitias. The statement of financial activities also complies with the Tequirements for an income and expenditure account under the CompaniesAct 2006.
HOPE HOUSE SCHOOL LIMITED BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Nt)tes Flx•d •ss•ts Tanglble ossets Currenl as¥ets OebtOTS Cash al bank and in hgnd 14 54.761 44,572 15 43,325 543,314 483,901 166,455 586,639 630.356 Cr•dltow: amoffits flllng du• wlthln on• y•ar 17 {S8.648) {852.790) Nbt curfenl ass•tsllliabiM$l 527.993 (22.4341 Tot•1 ••$•ts l•J• curT•¥rt liabilitias 582.754 22.138 Creditors". amounts fallln9 due tr morn than on• y•ar 19 {4,710) Net assets 582.754 17A28 Incom• funds Unrestricted fvnds 682.754 17.428 582.754 17.428 The conw8ny15 8ntrfed tts the exemption fr( the audrt requirement contained in $Edion 477 ol Ihg Companios Act 2006, lor the year ended 31 Dectmber 2023, although an audit hes been cgNifrd out under sectloTh 144 of the CharitsAct 2011. The dlrfjclors aCkJ99 th8Y fe5POn5ibifths lor cwiplyin9 wilh the re91VeMentS ol Ihe CompaThes 2tK)B wllh respect to accounting rtscords And thè preparntbn off8191 stalemenls. These financ1 st8l•monts havè begn prepared in aCrdance wth th• provisions appltable ¢ornpan6 subig¢t the small companies regime. Th8 fin8ncTral 5talements *ere apryoved by the Trustees on..... Mr B Jon•8 Trustee Company Règlstratlon No. 06188419 -12-
HOPE HOUSE SCHOOL LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Nol•s Cash flo Irom operatlng actlvltle8 Cash generated fromllabsorbed by) operations 22 416.504 {261.958) Invesung activities Purchase of tsngible fixed assets Proceeds on disposal of tanglIe fixed 129,6211 18,6971 3.772 17 Interest received 2.227 Nèt cash used In Invostlng actlvftles {27,394) (4,908) Financing •ctivitles Payment of obligations under finance leases {12,251} (2,610) Net ¢ash used In financlng actlvltl08 112,251) 12.610) Net increaselldecreas•) cash and cash equlvalents 376,859 {269.4761 Ca8h and cash aqulvalents at beglnning of year 168,455 435,931 Cash and cash aqulvalents at ènd of year 543,314 166.455 13-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Charlty Infomiatlon Hope House School Limi18d is a private company limited by guarantee incorporated in England and Wales. Thg regislgrgd Offi is Hopa School, Bamby Road, Balderton, Newark, Notts, NG24 3NE. 1.1 Accountlng conventloTr Tha financial statements have been prepared in ac¢ord8n¢e with the charrty's goveming document. the Companies Act 2006 ond 'ALInIng and Reporting by Chartbes.. Statement of Recommended Practice ap1¢able lo charities prepariNJ thèir aecounls in accordance wlth the Flnanclal Reportfing Standard 8pplicable in the UK and RepubliG of Ireland {FRS 1021" (as amended lor accountlng perfods commenung from l January 2016). The thanty is a Public Benefit Entty as defined by FRS 102. The financial ststemenls are prepared In sterling. %thich is the functicx)al currency of the charity. Monetary 8mounts in these financial stal&ments are rounded to the n8ar6st £. The financial statements have been Ffepared under the historical cost convention. The principal aOunts.ng policies adopted ar8 s&t out below. 1.2 Goln9 ¢OnC8rn At the time of approving the financi81 staiements, the Trustees have a reasonable expe¢Xalion that the charity ha5 adequate resources to continue in operational existence for the foreseeable fvrture. Thus the Trustees continue to adopt the going concem basis of accounting in prepariry the finarKial st8temenls. 1.3 Charltsblg fund8 Unrestricted funds are available for use at the discretion of Iho Trn$t¢es In furth¢ranc& of Iheir charitable objectives. Restricted funds are subjed to spèufic conditions by donors or grantors as lo how they may be used. The purpos8s and uses of the reslricled funds are set out in the notes lo the finanual statements. 1.4 Incorne Income is recognised bthen th8 charrty 18 legally enliued to rt after any perfoman¢e nditionS have been mel the amoun18 can be measured rellably, end It Is probable that income will be received. Cash donations are recognised on recgipt. other donation8 are recognised once the charity has been n¢)tifiad of the donation, unle$$ performanee eonditions requlre deferral of the amount. Income tax reeoveTable in relation to donations received under GfftAid or deeds of covenant is reccty3nis8d al the lime of the donation. Legacies are recognised on receipt or othgtwise If the tharfty has been nolifi8d of an impendlng dBtribulion, the amount is known, and receipt is expected. If the amount 1$ not knowrb, the legacy 1$ treated as a contingent asset. 1.6 Expendlture Expenditure is recognised once there is a kgal or construcbve obligation to transfef economic benefit lo a Ihlrd paty, It Is probable that a transfer of economic benefits will be required in settiemenl, and the amount of the obligatlon can be measured rellably. Expendilure is classified by activity. The costs of ga¢h aclivty ara made up of th8 total of di costs and shared costs, including support costs invofved in undertaking each actlvty- Dbrect costs attribUt8e lo a single 8cts.vity are allocated directly lo that activty- Shared costs which contrlbute to more than one aCtlty and support cost$ which are not attributable to a single activity are apportioned btheen those aclivit*s on a basis consistent wth the use of resources. Central staff costs are gllocaled on the basis of lime Spont. and depreaation charge5 are allccated on the portion of the asseys use. 14-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnued) Lia.111teS are recognised as resources expended when it is probable that a transfer of economic benefits will be required In settlement and the obligation can be m888ured Teliably. Al expendrture is accounted for on an accTrls ba8is and has been classified under headlngs that aggregate all Costs rglal8d to Ihe category. Expenditure relating to donated services and facilities is included on the same basis and at equivalent amounts as recognised within incoming resources. Expendlture on charltable actNilies compri88s th08e co8ts incurred by the charty in the delivery of its actiwti88 anij services of its bgneficiarigs. 11 Sncludgs both tho dir8ct pay and non-pay costs and support costs rglating lo those activit¢es. Govem8nce cosls are shown a8 part of support costs. These are associated wlh the administratwe arrangements of the charty which relate to the general running of the eharty as opposed the those costs associat8d wth the charitable activrty. The irlUde audit fees. legal athiee. and preparation of the 5tstutory accounts and costs of trust08 m8ebng5. 1.6 Tanglble Ilxed assets Tangible fixed assets are inrtially measured at and subsequently m8asured al cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to Wle off the cost or valuatn of a88ets le88 their residual values over their useful lives on the following bases.. Leasehold improvements Fixtures and fitting8 COmper5 Motor vehides 10% Straight line 250A Reducing balance 33Qfi Stralght line 2SQA Reducing balance The gain or Ioss 8rising on the disposal of an asset is delemiined as the difference betsveen the sale proceeds and the carrying value of the asset. and is recognised in the statement of financk?l a1vitIes. 1.7 Impaiment of fixed assets At each reporting end dale, the charity reviews the carrying amwnts of its tangible assets to detemiine whether there is any indication that those asse15 have suffered an impairment 105s. If any such indration exists. the recoverable amount of the asset Is estimated in order to (letemine the extent of the Impalrment loss Irf any). 1.8 Employee benèfltS The cost of any unused holiday entrtlement is rec£Jgni8ed in the Ferfo¢J in 1¢h the employee's services are received. Termination b8nefrt5 are recognised imrnediately as an expense when the charity is demonstrabty commilted to lermlnate the employment of an employee or to provide temiination benefits. 1.9 Rollrement benetlts Payments lo defined contribution retirement benefrt schemes are charged as On expense as they fall due. 15-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles IContinu•d 1.10 Leases Leases are dassified a5 flTrancE leases whenever the terms of lease transfer sub5tantialty all the risks and rewards of ownership lo the lessees. All other le85es are classified as operating leases. A88ets hekl under fln8rte lea8e8 are recogn18ed as assets at the lower of the a888ts falr v81ue al the date of IncepOn and the present value of the mlnimum lease payments. The relalgd Ilability is induded in the balan sheet as a finance lease obligation. Lease payments are Irealed as consisting of capital and interest elements. The interest is charged lo net incomellexpendilurel for the year so as to produce 8 constant pentrsic rate of interest on the remaining balance of the liakn'lty. Crltlcal a¢countlng •stlmatss and Audgements In the application of the charity's accounting policiès, the Tfusteey are required to maké judgements, estlmates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sreeS. The estimates and assoclated assumpllons are based on hlstorlc81 experience and other factors that are considered to be relèvant. Aclu81 results may der from these estimates. The estim8le8 and undertying 88sumptions are reVd on an ongoirvJ basls. Re$lOn$ to acctsunling estimates are reccsni8ed in the period in vthich the estimate is revised where the revision affects cnly ihal periLKI. or in the period of the revision and future periods where the rewsion affeL*s both current and future periods. Income from donatlons and legacles Unrestrlcted Unrestrfcted funds fund$ 2023 2022 Donations and gifts 8.283 3.382 Incomè from ¢haritable activities 2023 2022 Fees from181 authorities 1,838,023 1,259.396 Incomp from Investmgnts Unro8trfctsd Unrestrlcted funds funds 2023 2022 Interest receivable 2,227 17 16-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Other Income Unrestrlcted Unrestricted fundg funds 2023 2022 Hlre purchase refund 12.100 17-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expondlture on charitsble actlvltlg$ 2023 2022 Stsff costs Depreciation and impairment Stsff trainin9 Equlpment. fumllure and r88ources School lrips School unifom Other school expenses Senx)ry integration, therapy and unSelling Animal expense5 Schwl focrfl Rent Light and heat Walar rates Repairs and maintenance Molor expenses Insuranc8 Printing, postage and stslionery Telephone and data cost Dlsclosure and barring 8eMce Sundry expenses PTofiI or loss on di5P05al of tsngible assets 895.522 19,433 38.999 37.897 774 4.593 18.358 22.361 935.395 11,189 18.318 41,292 60 2,156 14,783 27,111 1,292 16,975 30,958 25,043 738 16,006 8,971 39.837 2,086 26,698 653 2,452 12,301) 13.911 31,510 22,333 728 45.156 9.156 48.8BO 1.779 35.650 830 3.070 1.250.940 1.219,712 Share of governance costs Ise8 note 8) 43,274 61.078 1,294,214 1.280,790 Analygls by fund Unrestricted funds 1.294.214 1.294,214 Forthe year ended 31 December 2022 Unrestricted funds 1,280,790 1,280,790 18-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Governance costs 2023 2022 Accountancy fees Audit fees Legal & profe$$ional fees 20,894 10.272 12,108 16,400 10,080 34,598 43,274 61,078 Nel movement In funds 2023 2022 The net movement in funds is sL*ed after charg1{Cred1ng)'. Depreciation of owned tangible fixed assets 19.432 11.189 10 Trustoes Trustees receNed £nil of remuneration in 202312022.. £nil). No expenses have been paid out to the trustees in 202312022.. £nill. 11 Employoos The average monthly nurnber employees during the year was.. 2023 Number 2022 Number 30 Employment costs 2023 2022 Wages and salaries Social security costs Oihgr pension Gosts 797,728 52,616 39,724 866.373 42,467 15,559 895,522 935,395 There was 1 employee12022.. 0) who received totsl employee benefits of more than £80.000. The number of employees whose annual remuneration was more Ihan £60,000 18 8$ follows.. 2023 Nttrnr 2022 Numb•r £90,001-£100,000 19-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Employ¢e6 Icontlnued Remuneratlon of key managemem pornonngl 2023 2022 Aggregale compen'On 90.903 89,841 12 Flnance Interest Unrestrlcted Unrestrieted fund* funds 2023 2022 Financing costs 1,093 8,998 13 Tautlon Tho charity 1$ exempl from tsx on income and gains falling within s8th.on 505 of the Tax8s Act 1988 or section 252 of the Taxationof Chargeable GainsAct 1992 to the extent th81 these are applled to ils Chantable objects. 14 Tangible fixod a550ts L•Jsthdd Flxtur•s and Compul¢Ys Imwovemerts ffttlngB Totsl ¥8hl¢le• Cost At 1 January 2023 Additions 20,574 2,319 2,767 17,423 26,854 98,945 139.261 29,621 At 31 December 2023 20.574 5,086 44.277 98,945 168.882 Depreclation and Impalmient At 1 January 2023 Depreclalion thaiged in the year 3,429 2,057 748 531 5,947 13.249 84,565 3,595 94,689 19,432 At 31 December 2023 5,486 1,279 19,196 88,160 114,121 Carylng amount At 31 December 2023 15,088 3.807 25,081 10,785 54.761 At 31 Dacemb8r 2022 17.14S 1,571 11.476 14.380 44.572 -20-
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Debtor8 2023 2022 Amounts falllng due wSlhln one year: Trade debtors Prepayments and accrued income 40,103 3,222 463.361 540 43,325 463.901 16 Flnance l•as• obllg•tlon¥ Future minimum lease payments due under finance le8se8'. 2023 2022 Within one year Within two and five years 2,173 9.714 4.710 2,173 14,424 17 Cr•ditors: amounts falling du• withln one y•ar 2023 2022 Notes Obligations under finanee le8ses Other taxation and social secajrity Trade creditors Other creditors Accruals and deferred income 16 2.173 14,298 16,815 6.127 19.233 9.714 46,447 23.970 572,659 58.646 652,790 18 Deferred Income Deferred income is included in Ihe financial statements as follows.. 2023 2022 Deferred Income al 1 January 2023 Released from prewous periods Resources deferred in the year 550,749 {550.7491 354,175 1354.1751 550,749 Deferred Income at 31 Decembar 2023 550,749 Deferred inccffle represents amounts received in advance frcffl local authoTib8s relating to post yew end te fees. -21
HOPE HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Credltor8: amounts falllng due aftèr morè than ¢)nè yoar 2023 2022 Obligations under finanrR leases 16 4,710 20 Retlr•ment beneflt ¥¢hom•s 2023 2022 Deflned contrfbutlon sch8mos Charge to proffit or108s in respect of defined contribution schemes 39,724 15.559 The tharity operates a defined contribLrtion pension scheme for all qualfying employees. The assets of the scheme are held separately from those of the charty in an indyndently administered fund. 21 Unr951rfctgd fund5 The unrastrict funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantor5 as to how they may be used. These indude designated funds which have been Set aside out of unre$lri¢led funds by the truste8$ lor $pg¢ifi¢ purwses. At 1 January 2023 Incomlng resou88 Resources oxpended At31 Decomber 2023 General funds 17,428 1,860,633 11,295,307) 582,754 Prevlous yfrar: At 1 January 2022 Incomlng rgsources Resourcgs oxpondod At31 Docember 2022 Gener81 fiJnd5 44,421 1,262,795 11.289,788) 17.428 22 Cash generated from operatlons 2023 2022 sUru$l{defiC[t) for the year 565,326 {26,9931 Adjuslmenls for Investment ineome recognised in sL*ement of flnarrial actlvltles Gain on disPQSo1 of tangible fixed assets Depreclatlon and Impalrment of tangible fixed assets {2,2271 (171 {2,3011 11,189 19,433 Movements in working capital.. DeLYeasellincreasel in debtors (Dee859)rIncr0as0 In ugdilors 420,576 {S86.604) (449.501) 205,665 Cash generat•d fronNI(abrb•d by) ¢>p•ratlon$ 416,504 {261,9581 -22-