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 T￿￿1868. 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 d0￿Ment. the Companies Act 2006 and "Accounting and Reporting by Ch•ritiè$.' Statement of Recommended Praclice applicable lo charities preparir4J Iheir account5 in accordance Y￿h the Financial Reporting Standard applicable in the UK and ReputAic of Ir8laTrJ IFRS 1021. las amended for accounllng per￿5 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 $8GuAp young adulls WIK) are prgpar8dloradutt lifg. Our Core Values ...A￿ based on the ￿COgnrt￿n that many of our students have h8d diifKult Jofftys before 8rriving 8t Hope Hiwse school. Educ811on81 provlsion has been inappropriate, often Trsufting In sever81 adveryd8 8xpeiy8nces for bolh the young person and Ihelr fgmity. Th8Trlore, we alm to transfom? Ihose 88rty ayperiences of educalion by addTrssing any banyors to learning through both individualised aAMI pgrsonalised 188ming expeiyences. Al the same time, we acknowledg8 the import8nce of8 sfudent's SOCi818nd emotional development and the importance of wothing logg¢her with pee￿ Bnd a(Jutts, to build positive relationships. Relafionships Unde￿1￿ our values at Hope House school. We unde￿tand the poworof building positive relat￿nsh￿S to create and fost8r a cultur8 of wam71h, nurture, inlegnty, mulual rnspgcl, and knndness within the school Onvi￿nmaDt, valuing the indrrfidual al all times. wh￿￿ ts reftect8d by ensuring the yo￿e of ouryoun9 P8opl8 is heard through PRIDE fPe8ts. Respèct, Independènce, Detemln8tlon Sno Eouallty) FORCE. The school Is In a rural settlng In 8alderton, near Newark, NottlnghamshSre. It Is housed In several Independent one storey buildings, sel out in a 'u' shape around a central grassy area which is currently being develyd into a multpsensory space. There are other detached hvo slorey buildings in the grounds, one used for post-16 putils and the other for adminislralion. There is an outdoor space devoted to forest school activities and a Wofxlen play area with specialist equipment for pupils lo use as part of their curriGulum and at group soci81 tiffEs. An outdoor area attached to the low8r school dassroom provides an enhanced provision to extend children's Igarning and exploration. Thore 1$ a s8parale building dedicatad lo additional curriculum activrbos such a5 mu$1¢ and food tethnology. It houses a well-èquipped sensory r¢)om that supports activities that are bespoke to IndNidual needs and group actwilies. A multi-agency room provides sp8ce fof I'.1 8esslons1888essment and the delivery of ¥ecffic programs of interwenlion. In additlon lo speciflc reading areas in each classroom, there is a small mmunal library for pupils to access as part of the focus on promoting reading for p￿aSure. The school has an ambitious and engaging curr￿uluM whith is broad and rkh lo ènable all our yourwJ people to reach their potential as Ihey Prepare forAdulthood IpfA). The school's currirJJlum offer is dive￿. c4tering for the needs of pupi15 from earty Engagement through lo Level 2 qualifications. The PfA curriculum is accT&Jilod through ASDAN vla personalised pathways. There are various enrichment opportunf(ies arbd memorable experiences for all students. Includlng vlslls lo Natlonal Trust places of interest and local landmarks to embed student's understsndlng of cultural dlverslty and Brltish values. All student5 have regular access to the local community and travel far and wide lo promote skills for independent living. All St￿ont$ engage in careers education and, in addition to this, older $tudent$ re￿1ve 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 envIrc￿Ment and the unwavering commitment of our staff ond adminislr8tion. Over the past a￿demiC ygar, the School has experienced a notable increa8e in pupil number5, Wth a rise from 24 10 30 studont$. This growth reftects the yth¢)ol's gr￿￿ng reputab.on for providirrfj quality edtscatlon arKI fostering a Supportive leaming environment. Th8 growth in pupil numbèrs al Hop8 House School has been a tranS1￿m81￿8 experience for our insllluUon. The In￿aSed student body ha5 positively impacted the running of the school. allowing for expanded educational opportunities and person81ised Instrueilon. FtstheM￿e, the financial stability resulting from this grtrmh has empowered us lo invest in our infrastructure. Thero wa$ 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 Mate￿al$, upjated technology, and Improved fadlities. ensuring that our students have access to the best resources available. As part of our commitment to maintaining exceptional standards, tho school continues lo undergo regular quality assurance wsits. These visits help us identify areas for improvement and ensurè that we are ton$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$t in revenue ¢omp3red lo the p￿ViouS year. However, overhead costs also saw a substsnlial increase. This rise in expenses impacled the financlal landscape of the school. th ￿gard$ 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. R￿erVeS 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$k¥ and uncertalnties The Trustees have examined the major strategic, business and operats'onal risks which the charity faces and confirni that Systems have been estsblished to enable regular reFQrts lo be prOdU￿d so that the necessary slep8 can ba taken to lessen Ihe8e ri8k8. 2023 and 2024 expeetstlon overrflew The positive expectations of last year's review have been achleved and Trustees look fomard to an increase in pupil placements and the DfE have given approval for ￿ additional places from September 2023. Lo&4 Authority support ha$ proven positive. The new Headle8cher has developed the school in every area I￿uding 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 enc￿unter 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$tee¥ will undergo an induction which includes the Independent School Stsndards and the Charity Commision WelGome Pod(. The irKluGtion will be G8rried out by the Chair Trustee and supported by the HR Manag8r. The three core functions for Trustees are., l. Ensuring clanty of vi&on, ethos and stratsgic direction 2. Holding the H&adtea¢her I Senior Leaders a¢￿Unt for the educational perfoThnan¢8 of the school and its pupils, and the p8rfomiance management of staff 3. Over8eelng and ensuring effective financial p8rformanc8. Tru8tee Trnlnlng Trustegs recelve the followng tralning.. Safeguarding Chlldren In Edueation Safeguarding for Governors (Chair Trustee) DSL (Chair Trustee) Legionella (Chalr Trustee) Data Protect￿n Keeping Children Safe In Education- Copy issued Annually and confirmalitin of receipt goined Thg Tru$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 Supp￿ted 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 dI￿U95ed 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 f￿M 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 aCcoU￿n9 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 di￿10￿ 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 actlvl1￿s, 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 Cond￿On8 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 knO￿ed￿ 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 foll0v￿ng 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 tr￿t is not a guarantee that an audit conducted in at￿rdance 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 appliCa￿e 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 legI￿allOn 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 nonp•ratlon$ 416,504 {261,9581 -22-