Registered company number: 06596258 Registered Charity number: 1125375 BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
BARNARD CASTLE SCHOOL IA Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Charity, Its Governors and Advisers Chair's Stat8ment Governors. Report 4-12 Governors. Responsibllities Statement 13 Independent Auditors, Report on the Financial Slatements 14- 17 Statement of Flnanclal Actlvllles 18-19 Balance Sheet 20-21 Statement of Cash Flows 22 Notes lo the Flnanclal Statements 23-46
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Governors Mrs C J Sunley, Chair Mr N J Bliss. Vice Chair Dr J R Elphick, Vice Chair MSSAAAII Mr l M Allison Mr D S Clouston (appointed 1 March 20241 Prof. N M Girdler lappoinled 15 November 2024) Mr N P Hodges, Old Barnardians Clubi Mr P A Kelsall Ms K J Marshall Mr R l Moffatt Mr P D A Mothersill Mr D C Osborne Dr J K Ramsingh {resigned 14 October 2023) Mr E R Rendall Ms A E Rhodes Cllr G M Richardson, Durham County Councili Mr D F Starr, Durham Universityl Ms D Vinsome Nominated Governors Company registered number 06596258 Charlty reglstered number 1125375 Registered office Newgate Barnard Castle County Durham DL12 8UN Company secretary Mrs S M Metcalf The Headmaster Mr D Cresswell (appointed 1 September 20241 Mr A C Jackson (resigned 31 August 20241 Page 1
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS GOVERNORS AND ADVISERS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Independent auditors Clive Owen LLP Chartered Accounlants and Statutory Auditors 140 Coniscliffe Road Dadington County Durham DL3 7RT Bankers Nalwest Bank PIC 29 Newgate Street Bishop Auckland County Durham DL14 7ET Investment Advisers BlackRock Fund Managers Limited 12 Throgmorton Avenue London EC2N 2DL Brewin Dolphin 10 Wellinglon Place Leeds LS14AN Page 2
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) CHAIR'S INTRODUCTION FOR THE YEAR ENDED 31 AUGUST 2024 The chair presenls her statement for the year. The year has been filled with the vibrant hum of school lrfe wilh plays. concerts, fixtures, compeiilions, chapel and, of course. lessons and examinations. The sense of community was clearly apparent when the whole School performed at The Glasshouse (formerly the Sage) in the School's second Whole School Concert. Pupils from every year performed to a packed audience, supported by the whole staff body. It is this support and involvement of the staff which makes the School what rt is - a nurtunng. challenging. and inclusive environment where each pupil is encouraged to thrive. explore and achieve their fullest potential. The Governors would. once again, like to thank each member of staff for their dedication and their unwavering commitrnent to achieving the highest standards. However, since writing the last Trustees Report, the financial challenges which were facing the independent sector have come to bear. The Budget announcement on October 30th 2024 has created the perfect storm for independent schools with the abolition of Business Rate Relief. the increases in minimum wage and N.1. and the removal of their VAT exempt status. The School has been aware of these potential changes for a number of years and has worked hard to ensure that it Is run as efficiently as praclicable whilst continuing to deliver an excellent education relevant in today's society- During the year, the teaching staff unanimously agreed to exrt the Teachers, Pension Scheme {TPS) due to unsuslainable cost increases and potential future risks. This drficult but essential decision. which was collaboratively managed with the Common Room. was not only financially sound but demonstrates the staffs dedication to the future of the School and the pupib, success. Whilst Schools can continue to work hard to mitigate the fsnancial impact of these changes. undoubtedly, the brunt of the financial burden will be borne by the parent body who will see significant fee rises in January 2025. The ethos of the School is to maintsin the fees al an affordable level and financial rigour has continued to achieve this with fee levels in the lower quartile of independent schools in the region. The Governors and the School are committed to ensuring that fees continue to offer exceptional value. and that Barney remains a place of opportunity and ambition. It remains for me to thank Tony Jackson who left the School at the end of the Academic Year after seven years as Headmaster. Tony's contribution to the School has been immense and he leaves Barnard Castle School in a much stronger position than when he arrived. His clear direction successfully steered the School through the very dtfficult "Covid years". He never lost sight of Ihe need lo deliver an excellent character-filled education but the emphasis he placed on pastoral care and on the mental wellbeing of pupils helped reinforce the sense of the School as a place of tolerance and humanity. He also reinforced the importance of boarding at Barnard Castle at a time when many schools were resiling from it. He encouraged the teaching staff lo raise their professional ambilions inside the classroom and beyond- and he empowered Ihe senior leaders wilhin the School to follow his example in upholding the sense of community which represents a particular strength of Barnard Castle. Finally, we are delighted to welcome Mr David Cresswell who slarted his tenure as Headmaster on 1st September 2024. Mrs C J Sunley Chair of Governors Date: Page 3
BARNARD CASTLE SCHOOL {A Company Limited by Guarantee) GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and Activities Charitable Objects and Aims Barnard Castle School is a charitable company limited by guarantee, which owns all the land. buildings and other assets of the School. It is registered with Companies House (Company Number 65962581 and with the Charity Commission (Charity Number 11253751. The Charitable Objects are to: advance educalion, in particular but not exclusively through the provision of a School in or near Bamard Castle, County Durham and to give religious education in the School in accordance with Christian principles; provide facilities in the interests of social welfare for the education. recreation or other leisure activitie5 of the public at large. Charitable Purpose Barnard Castle School exists to advance education for public benefit. inspired by our founding motto- 'Parvis imbutus tentabis grandia tutus" "When you are steeped in little things you shall safely attempt great things.. We aim to provide an outstanding ceduCatiOnal day and boarding education, wth a commitment to nurturing ambition, aspiration, character, and community- We strive to inspire young people to fulfil their potential. regardless of background. by offering a broad and balanced curriculum, exceptional pastoral care, and extensive (Fcurri¢ular opportunities. Our vision is to be the leading cTreducational day and boarding school in the North of England. combining academic excellence with personal growth. Our purpose is to inspire ambition and build character within a down- to-earth, inclusive Community where everyone belongs. and vthere hard vffjrk and good humour thrive. We aim lo create a happy and safe environment where pupils develop a lrfelong love of learning. embrace small steps toward great achievements. and are empowered to dare greatly in shaping a changing world. We actively promote public benefit through means such as bursary support, outreach programmes. and partnerships with local schools and organisations, ensuring our edLJcation has a positive impact both within and beyond our school community. At the heart of our School ethic is the belief that every pupil should be inspired to achieve their personal best whilst developing the resilience, integrity, and empathy required to conlribule meaningfully to society. Independent Schools Inspectorate A Focused Compliance and Educational Qualty Inspection of both the Senior and Prep Schools was undertaken by the ISI Ilndependenl Schools Inspectorate} in April 2023. In addition to meeting all compliance measures, the inspectors awarded the School the lop rating of 'Excellent' for both 'Academic Achievement. and 'Personal Development.. Page 4
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and AGtivities (continued) Parenl and Alumni Engagement The School prides ilself on ils values of openness, transparency and trust and values its partnership with Ihe parent body and Alumni. Every organisation, regardless of sector, should continue to seek ways to improve its offering. and the School, using the services of an independenl consultant, ran an anonymous parenl survey during Summer 2024 seeking the views of its parenl body. The responses were overwhelmingly positive and will play a significant part in guiding the strategic decisions of the School in the future. The Old 8arnardians' Club goes from strength to strength and a number of very successful avenls were held during the year, including the hugely enjoyable 1920s Gala Dinner. OB events continue lo be held both in the UK and abroad providing opportunities for former pupils lo meet and connect with their peers. Welfare The School is committed to safeguarding and promoting the welfare of ils pupils and staff and expects all those involved with the School to share this commitment. The objective is to create a culture and community where all pupils, staff and parents can speak openly and confidently and feel that they are being listened to, by each other as well as by the School. Th8 aim is to develop self-aware pupils who are empathetic, are armed wilh a sense of perspective and gratitude and understand the importance of robust mental health. In May, the Prep School was awarded the Optimus Education Wellbeing Award for Schools. The final report from the Wellbeing Consultant was incredibly positive about the wellbeing provision in the School. July 2024 saw the completion of the Wellbeing Centre. This building houses the medical team on the ground floor, with their offices, Ireatmenl rooms, space lo bed down four pupils, and the School Counsellor on the first floor. In addition, there is a meeting room for medical, pastoral and training purposes. A Barney Education is not something that merely happens within the classroom or as part of an academic timetable. It is part of an all-encompassing curriculum that factors in classroom and non-classroom engagefflenl. The issues young people have to contend with on a daily basis are increasingly complex, and it is important to create the lime and atmosphere to engage on such topics. Wellbeing is embedded in the curriculum with themed lessons and programmes where pupils. either in one-to- one sessions with their tutors or in a group setting, explore topics such as Mental Health, Equality and Diversity. This is supported by a varied and inspirational visiting speaker programme. Throughout their journey through Ihe School, self-reflection and tho setting of personal goals by pupils is encouraged with the aid of the Apollo App. This bespoke App is firmly embedded into the curriculum allowing the pupils lo sel, view and reflect upon personal goals, record Iheir experiences, and look back on their time as they move through the School. Page 5
BARNARD CASTLE SCHOOL IA Company Limited by Guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and Activities (continued) Curriculum The School's Motto from its inception in 1883.. PARVIS IMBUTUS TENTABIS GRANDIA TUTUS When you are steeped in IFttle things you will safely attempt great things The School's purpose is achieved with a curriculum which promotes academic rigour and incorporates sport, music, drama and an extensive co-curricular programme designed to stimulate the mind, body and soul, underpinned by robust pastoral care. Pupils appreciate the rewards of endeavour, the wonder of discovery and the richness that comes from an aptitude for life-long learning. Academic Atthough GCSE results nationally have fallen back to pre-pandemic levels, the School's GCSE results showed an improvement on the previous year and continue lo track above National Averages. There were some oulslanding individual performances, with three students achieving five or more 9 grades. The collective achievement is a testan)ent to the high standards of teaching and learning embedded across all subiecls, as well as the pupils, focused and determined attitude. A Levels also saw an increase in the results of A".A and A'_C grades compared to the previous year with many sludents achieving exceptional grades that reflected their personal commitment and the strong support they received from their teachers, peers, and more widely within the School. Our core values and purpose continue to drive our support for all children with specialist support for children with specific educational needs whilst educating our whole community lo understand and appreciate cognitive diversity. With a spirit of continuous improvement. supported by the feedback received from parents in the parent SLtrvey, the focus to continually develop and enhance the academic achievement of all our students is a strategic priority. Co•currlcular Programme and House Activities The Co-curricular Programme and House Aclivilies play a ntral role in life at Barney and participation in these activities is seen as a core requiremenl for all pupils allowing them to develop their character and learn new skills. Prep School offers over 40 different activities including Hockey, Rugby. Taekwondo, Ballet, Art Club, Malhs Games and British Sign Language, to name a few. This breadth of opportunities continues into Senior School where pupils are encouraged lo expand their interests and try new activities. such as CCF. Duke of Edinburgh, or a pupil-led Society. Sport Sport continues to thrive with all pupils taking regular part in a diverse range of sporting activities, benefitting from specialised coaching and extensive facililies. Over 98 0/0 of pupils have represented the School in sport. Pupils are encouraged to continue these activities outside the School and 86 pupils, from both Prep and Senior Schools. represented their County in one or more of the focus sports of rugby, hockey, crickel and netball. The resilience, courage, teamwork, camaraderie, humility, and dedication demonstraled by the pupils in their sporting endeavours has been second to none. Page 6
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS, REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and Activities {continuedl Highlights from the year include: The School achieved TASS (Talenl Alhlele Scholarship Scheme) accreditation, becoming one of only 11 schools nationwide to receive the honour. This Sport England funded scheme is a collaborative initiative that connects young athletes with specialisl educational institutions and nalional sports governing bodies. Traditionally awarded to universities, this prestigious accreditation places the School amongst just three schools in the region to hold this status. This accreditation will provide exceptional support to pupils excelling in both their sport and academic life, offering them access to top-tier universities for their chosen discipline5 and helping identify Ihe best development pathways for their athletic careers. Barnard Castle School has been recognised as one of the top 100 schools for cncket in the UK by the Cricketer magazine. This prestigious accolade highlights the School's commitment to excellence and its outstanding success in the sport. The School successfully organized 2 ECB Umpire course5 tailored for the pupils. One course was dedicated to the senior players and staff and the other was an all-girls umpire course. In rugby. 15 boys completed their Rugby Referee's course adding to the growing number of officials at the School. In hockey, 4 pupils completed the online England Hockey umpire course. Internationally, 2 pupils represented England wilh a pupil playing for Netball U19 England and another playing for Rugby U18 England. In the Prep School a pupil continued their success on the golf course by qualifying for the British Open Golf Tournament. Muslc and Drama Music and Drama play an important role in character education and continue lo engage the pupils with tremendous support for School produclions and for the various School Choirs, Bands and Ensembles which perforffled both internally as well as externally. A highlight of the year was the return lo The Glasshouse (formerly The Sage) where the whole School, including staff. took part in an evening which saw performances from the Joint Schools, Orchestra. the Prep School Chamber Choir. Ihe Senior School Chamber Choir, the Chapel Choir. the Jazz Band, the Wind Band, a Saxophone Ensemble, and large-scale performances from every pupil in the School. In Prep School over 130 pupils performed in the full-length musical, "Seussical the Musical" to a packed audience over three nights. Senior School slaged an immersive performance of "Bugsy Malone" turning Big School into a speakeasy, whilst the Sixth Form play was the "Accidental Death of an Anarchist-. In Lent Term, pupils from Year 10 to Yeai 13 performed in the sell-out production of "Spamalot" supported by an entirely sludent-led tech crew. Combined Cadet Force (CCFI CCF offers pupils a broad range of challenging. exciting, adventurous, and educational activities aimed al developing personal responsibility, leadership. and self4iscipline. The cadets enjoyed a variety of field days and residential weekends, and Barney retained their title as winners of the Brigade Exercise Black Rat Cadet Challenge. Further success was achieved in the Trinity Term at Exercise Cambrian Patrol, a competition designed lo push the cadets lo their limits. testing them both physically and mentally. The Barney team was awarded the gold medal standard plus overall national champion CCF. Page 7
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS. REPORT {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and Activities (continued) Duke of Edinburgh Award The Duke of Edinburgh programme continues to be very popular with pupils. During the year, 59 pupils completed expedition training. 8 completed their Gold Award. 25 achieved their Silver Award and 31 completed Iheir Bronze Award. In the Prep School. 26 pupils completed their Junbor Duke Award during the Michaelmas Term. Public Benefit The Govemors confinn Ihat they have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. Advance of Education The School's key public benefit is delivered through the promsion of education for tts pupils. In addition to educating pupils privately and saving the public purse and annual sum in excess of £4million, assuming a cost of £6,000 per pupil per annum. the School contributes lo both national and local economies and also generates funds from overseas. Oxford Economics and Independent School Council Research undertook an assessment which showed Ihat the School's contribution to national GDP in the financial year 2021122 was £19m. including the provision of a £12m contribution to County Durham's GDP. The Govemors believe that this assessment remains valid, and that Ihe School's contribution to both the national and l¢xal economies will have increased as a result of factors such as the increased minimum wage and inflation. Transformational Bursaries and Scholarships Providing access to children. regardless of their means. has been a core tenet of the School since 1883, when the first governing document enshrined this principle. While the School does not have the benefit of a strong financial endowment, the School continues to offer SUPF)Ort to pupils through Bursaries and Scholarships. Parents are encouraged lo apply for Bursaries. which are awarded based on a fair and rigorous means testing process," the means assessment is revisited each year. During the year, 34 children received a Bursary, equivalent to 7 full fee places. In addition, 3 Ukrainian refugee pupils displaced by the conflict. were provided with a free place. The School continues to support the Rordl National Children's Spring Board foundalion {RNCSFI with 3 pupils receiving a Bursary. The Charty aims to provide transformab'onal Bursaries for children in foster care by placing Ihem in independent schools. Support of the Local Community A core principle of the School is to provide its facililies in support of the local community wherever it is realistic to do so, providing a posilive and valued contribution and advancing the cause of education and social welfare. During the year, the School has continued to provide facilities and support lo a number of public organisations including: Page 8
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 (continued) Use of the School's sports facllltles provided to: Raby Castle Cricket Club Barnard Castle Cricket Club Middlelon Cricket Club Glaxo Squash Club Glaxo Football Club Durham Palatinates Netball Club Classic Car Show North-Easl Netball Club Teesdale Operatic Society Durham County School Cross Country Pony Club Triathlon Durham County Cricket {various ages) Girls U11 County Cricket Scottish Exiles North-Easl Pentathlon Durham Cily Satellite Hockey Club Durham County Cricket Professional development: Hosting professional development opportunities for teachers and support staff from other schools. Governors and staff serve on the Governing Bodies of various maintained schools. The School provides many examiners to the main examinalion boards and one of its Heads of Department advises Durham Universily on PGCE applicants. Hosting events: The Festival Weekend, held in the Michaelmas term. saw the School host 32 rugby teams and 12 hockey teams from both the state and independenl sector allowing over 400 children the opportunity lo safely return to sport. The School organised cricket clinics and workshops for local primary schools and community groups, promoting sport at the grassroots level and strengthening teS with the local commLJnity. The Barney Year 3 Cricket Festival saw over 200 pupils from 8 different primary schools experiencing coaching and game play. Summer Activity Weeks for children between the ages of 4 and 11 continue to be open to the whole community. Use of the School's facilities: Duke of Edinburgh's Award local assessors use the School as a meeting place for coordinalion and planning. Barnard Castle School Choral Society use the School Chapel. The Chapel is available for use by the community and visitors are encoLJraged on Heritage Open Days. The School makes additional parking available without charge to the Bowes Museum on busy occasions and for special exhibitions. Further, the School is a designated place of safety for the Bowes Museum's collection of art and artefacls. The School's playing fields are used as landing zones for helicopters carrying members of the Royal Family and other dignitaries to local engagements. In addition to the above, Ihe Activity Programme provides an opportunity for all pupils and staff to provide a service to Ihe wider community with activities such as planting hedgerows, litter picking, and organising fund- raising events. The School'5 Charity Committee selecled CRY Icardiac Risk in the Young) as their chosen charity this year and over £7,000 has been raised by the pupils for this very worthwhile organisation. Page 9
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Financial review Tradlng Perfom)an¢e The Financial Statements show an operating deficit of £43,878 before investment gains and pension adjustments 12023: surplus of £398.10). Increases in annual costs due to the high levels of inflation were miligaled lo an extent by stable pupil numbers. The School is committed to financial sustainability and has made significant adjustments to ils cost base including the withdrawal during the year from Ihe following defined benefit pension schemes- the Teachers. Pension Scheme England and Wales (TPSI and the Durham County Council Pension Scheme. Withdrawal from the laller resulted in a repanent of £1,568.900 from Durham County Council. This has been shown as an exceptional item within th8 Statement of Financial Aclivilies. The affected employees have been transferred to defined contribution pension schemes. Full details can be found in the Notes lo these Accounts. The net assets of the School at the balance sheet date were £10.755,393 12023.. £9,212,325). Fixed asset additions amounted to £1,025.250 in the year and included the creation of a Wellbeing Centre and continued investment in the boarding facilities. Reserves and Investment Pollcy The policy of the School is lo achieve an annual operating surplus which secures ils future financial viability and allows continued investment in ils infraslruclure. As at 31 August 2024, the School held fund balances of £10,755.393 comprising £10,069,516 unrestricted funds. £640.002 restricted funds and £45,875 endowment funds. After making appropriate enquiries Ihe Governors have a reasonable expectation that the School has adequate resources to conlinue in operational existence for the foreseeable future. Investment Pollcy The Govemors, investment powers are derived Irom the powers vesled in them under the School's Articles of Association and they have delegaled the management of the investment portfolio to Brewin Dolphin and 8lackRock. The Governors. investment policy is to adopt a low to medium nsk inveslment strategy. Risk Management The Governors have a duty to identity and review the risks lo which the Charity is exposed and to ensure appropriate controls are in place lo provide reasonable assurance against the key risks faced by the School. The School maintains an up to date register of the main areas of risk lo the ongoing operations of the School. Risks are categorised as Govemance and Strategic. Operational. Financial and Exlernal. The main risk areas for the School are risks associated with the protection of the School's pupils, staff and assets. Procedures and systems to identify and minimise these risks are regularly reviewed and updated. Within financial risks. liquidity risk is managed by a combination of loans to finance long lemi projects coupled with the judicious use of cash reserves to deal with monthly fluctuations in cash fiow. Future Plans The School's Strategic Plan, supported by the Development Plan and Capital Plan, sel out the plans of the Headmaster and his Senior Management Team for the School for the next 5 to 10 years. These documents are regulady reviewed and updated and have the full support of the Governing Body. The Plans have a level of flexibility incorporated within them to allow for the occurrence of unforeseen events and lo ensure that there is a balance beeen continuing investment in the growth and development of the School and its long-term sustainability. Page 10
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 Structure, governance and management Governlng Document The governance of the Charity is sel out in ils governing document. the Memorandum and Articles of Association. The Charity is a limited company, limited by guarantee, as defined by the Companies Act 2006. The most r8cent amendment lo the Articles of Association was made on 13th September 2019 when the current Articles of Association were adopted. Board of Trustees The School is governed by a Board of Governors {Ihe Board), comprising Foundation Governors who are appointed by a resolution of the Board, and Nominated Governors who are nominated by the relevant organisations listed in the Articles of Association and appointed by a resolution of the Board. The Board of Governor5 identifies suitable Foundation candidates with the skills and experience appropriate lo the perceived needs of the School and who will contribute lo maintaining a balanced, diverse and effective Board. A Governors. skills matrix is maintained to ensure that the core requirement to recruit responsible individuals with an active inlerest, the time necessary to fulfil their duties and the complementary expertise to add value to the Board, is achieved. The Governors all give their time freely and accordingly no remuneration wa5 paid in the year. Details of any expenses and related party transactions are disclosed in nol8 30 to the Accounts. Governor Tralnlng All new Govemors are given a copy of the School's Governor Handbook and an induction which includes a full lour of the School and Meetings with key management and staff. and a range of students. Governor training is an ongoing process achieved through internal training and by training programmes and best practice manuals provided by organisalions such as AGBIS. All Governors r8gularly complete a self-review, and a general governing bixly audit is conducted together with an Individual skills assessment which provides the opportunity lo analyse contribution and lo identify any new requirements or additional training needs. Day to Day Management The Board determines the general policy and strategic direction of the School in close collaboration with the Head and the Senior Management Team who are responsible for ils implementation and administralion throughout the Senior and Prep Schools. The day-to-day management of the School, therefore, is delegated lo the Head, who undertakes the key leadership role overseeing educational, pastoral and adminislrative functions, supported by his Senior Management Team. Page11
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Structure, governance and management (continued) Governor Meetings The full Board of Governors meets formally three times a year with the Headmaster and his Senior Management Team in attendance. The purpose of the meelings is to determine. agree and ensure effeclive implementation of Ihe strategic directK)n, general policies and procedures and financial oversight of Ihe School. To facilitate this process and to ensure optimal output. four committees have been established, each of which meets at least once a temi. The members of the committees are selected for their specific relevant expertise and are allocated individual areas of responsibility. The four committees are as follows- Finance & Estates Ilncluding Risk and Audit) Education, Welfare & Staff Development Strategy, Marketing & Development Governance The Terms of Reference of each committee are reviewed annually by the full Board. Pay Policy for Senior Staff The remuneration of the Head is set by the Chair and Vice Chairs of the Board. Senior management salaries are sel by the Head and reviewed by the Finance & Estates Committee using a set of diverse criteria including, inter alia. benchmark reports provided by sector associations such as AGBIS. IAPS and the ISC. together with those of respecled consultsnts wthin the sector. Disclosure of information to auditors Each of the persons who are Governors at the time when this Govemors. Report is approved has confirmed that: so far as that Governor is aware, there is no relevant audil infomiation of which the charitvs auditors are unaware, and that Govemor has taken all the steps that ought lo have been taken as a Governor in order to be aware of any relevant audil information and to establish that the charitvs auditors are aware of that information. Auditors The auditors, Clive Owen LLP, have indicated their willingness to continue in office. The designated Governors wtll propose a motion reappointing the auditors at a meeb'ng of the Govemors. Approved by order of the members of the Board of Governors on their behalf by.. 091o5.JjpJA............. and signed on Mrs C J Sunley Chair Page 12
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) STATEMENT OF GOVERNORS. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The Governors {who are also the Directors of the Charity for the purposes of company lawl are r8sponsible for preparing the Governors. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requir85 the Governors lo prepare financial slalements for each financial year. Under company law, the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the Governors are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make iudgernenls and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Governors are responsible for keeping adequate accounting record5 thal are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charily and hence for 18king reasonabl8 Steps for the prevention and detection of fraud and other irregularilies. The Governors are responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. In so far as the Governors are aware= Ihere is no relevant audit information of which the charity auditor are unaware., and the Governors hav8 tak8n all st8ps that th8y ought to hav8 taken to make th8ms8lv8s awar8 01 any relevant audil information and to establish that the auditors are aware of that information. Approved by order of the members of the Board of Governors on . fjqI.QAlbJs and signed on its behalf by.. Mrs C J Sunley Chair Page 13
BARNARD CASTLE SCHOOL IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BARNARD CASTLE SCHOOL Opinion We have audited the financial statements of Barnard Caslle School (the 'charWI for the year ended 31 August 2024 which comprise the Slatement of Financial Activities, the Balance Sheet, the Statemenl of Cash Flows and the relaled notes, 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 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable companys affairs as at 31 August 2024 and of its incoming resources and application of resources, including ils income and expenditure for the year then ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS IUKII and applicable law. Our responsibilities under those stsndards are fvjrther described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are Independenl of the Charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance with Ihese requiremenls. We believe Ihat the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In audiling the financial statements, we have concluded that the Governors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any Tnaterial uncertainties relating lo everlts or condilions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of al least te4Ve months from when the financial statements are aLfrthorised for issue. Our responsibilities and the responsibilities of the Governors with respect to going concern are described in tho relevant sections of this report. Other infom)ation The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Governor5 are responsible for the other information contained within the Annual Report. Our opinion on the financial slatements does not cover the other information and, except to the exlent otherwise explicilly slated in our report. we do nol express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other inforrnation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misslatemenl of this other information. we are required to report that fact. We have nothing to report in this regard. Page 14
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF BARNARD CASTLE SCHOOL (CONTINUED} Opinion on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in th8 course of the audit.. the information given in the Governors, Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Governors, Report has been prepared in accordance wilh applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of th8 audit, we have not identified material misstatements in the Governors, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept. or relums adequate for our audit have not been received from branches not visited by us; or the financial slalements are not in agreement wilh the accounting records and retums. or certain disclosures of Governors, remuneration specified by law are not made: or We have not received all the infomiation and explanations we require for our audit. Responslbilitles of Govèrnors As explained more fully in Ihe Governors. Responsibilits'es Statement, the Governors (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal control as the Governors delermine Is necessary to enable the preparation of financial statements that are free from material misstatement. whether due lo fraud or error. In preparing the financial slatemenls, the Governors are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the charity or lo cease operations, or have no realistic alternative but to do so. Page 15
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BARNARD CASTLE SCHOOL (CONTINUED) Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whelher due lo fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delecl a material misstalement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl malerial misstalemenls in respect of irregularities. including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this. We undertake the following procedures to identify and respond lo these risks of non-compliance.. Understanding the key legal and regulalory frameworks Ihat are applicable to the Charity. We communicated identified laws and regulations throughout the audit team and remained alerl to any indications of non- compliance throughout the audit. We determined the most significant of these to be around employment law, charity law, company law, health and safety law, food and hygiene regulations, taxation law, Independent Schools Regulator and GDPR. Enquiry of Governors and management as lo policies and procedures to ensure compliance and any known instances of non-compliance Review of board minutes and correspondence with regulators Enquiry of Governors and management as to areas of the financial statements susceptible to fraud and how these risks are managed Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies Identifying and testing unusual journal entries, with a particular focus on manual journal entries Through these procedures. we did not become aware of actual or suspected non-compliance. We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion. forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or .uklaudilorsres onsibililies. This description forms part of our Auditors, Report. Page 16
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF BARNARD CASTLE SCHOOL (CONTINUED) Use of our report This report is made solely to the Charitys members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charilvs members those matters we are required to state to them in an Auditors, RetK)rt and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its members, as a body, for our audit work, for this report, or for the opinions we have formed. CIIVL uf Martin Hobson FCCA {Senior Statutory Auditor) for and on behalf of Clive Owen LLP Chartered Accountants and Statutory Auditors 140 Coniscliffe Road Darlington County Durham DL3 7RT Date: Page 17
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 Unresthcled funds 2024 Restricted funds 2024 Endowment funds 2024 Total funds 2024 Total funds 2023 Note Income and endowments from: Donations and legacies Charilable activitses= 11,851 11,851 384,990 School fees Other income 13.834,321 39,028 13.834,321 39.028 12,412,904 43,629 Cost of providing school buses (14.955) {1,330,351) 204.182 111.226 114,955) {6,001) (1.330,351) {1,226.652) 204,182 189,533 164.502 54,799 Remissions Other trading activities Investments 53.276 Total 12.855.302 53,276 12,908,578 11,853,202 Expenditure on: Raising funds Charitable activities.. Teaching and governance Premises Welfare Other charitable activities 48.881 2.824 51,705 55,678 7,285,426 2,968,843 1,351.403 7,285,426 2,968,843 1,351.403 6,529,900 2,717,647 1,206,327 1,289,732 5,347 1,295,079 944,750 Total 12,944,285 8,171 12.952,456 11.454.302 Net lexpenditurellincome before net galnsl{losses) on investments Nel gainslllosses) on investments (88.983) 45,105 {43.878} 398,900 18.046 18.046 {3,427) Net lexpenditurellincome before taxation Exceptional items (88,9831 1.568.900 63.151 125,832) 1,568,900 395.473 13 Net income 1.479.917 63.151 1,543.068 395.473 Transfers between funds 24 16.995 116.995} Net movement in funds 1.496.912 46,156 1,543,068 395,473 Page 18
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricled fijnds 2024 Restricted funds 2024 EndowTnent funds 2024 Total funds 2024 Total funds 2023 Note Reconciliation of funds: Total funds brought forward Net movemènt in funds 8,572,604 1,496,912 593,846 46,156 45,875 9,212,325 1,543,068 8,816,852 395,473 Total funds carried forward 10.069.516 640,002 45.875 10,755,393 9,212.325 The notes on pages 23 to 46 form part of these financial slatements. Page 19
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) REGISTEREO NUMBER: 06596258 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Fixed assèts Intangible assets Tangible assels Investments 14 15 79,795 10.596,577 573,879 101,473 10,380.529 511,996 16 11,250,251 10,993.998 Current assets Stocks Debtors Cash at bank and in hand 17 62.002 617.929 4.646.067 56,371 789,056 2,479,629 18 5.325.998 3,325,056 Creditors-. amounts falling due wthin one year 19 14.034.632) {3,161,4421 Net current assets 1.291.366 163.614 Total assets less current liabilities 12.541.617 11,157,612 Creditors.. amounts falling due after more than one year 20 (1,786,224} {1.945,287) Net assets excluding pension asset 10.755,393 9,212.325 Tolal net assets 10,755.393 9,212.325 Page 20
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) REGISTERED NUMBER: 06596258 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2024 2024 2023 Nota Charity funds Endowment funds Restricted funds Unrestricted funds 24 45.875 640.002 10.069.516 45,875 593.846 8.572.604 24 24 Total funds 10,755,393 9,212,325 The financial statements were approved and authorised for issue by the Govemors on signed on their behalf by_ . IqJ2Jl&3f...... and Mrs C J Sunley Chair Page 21
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Note Cash flows from operating activities Net cash used in operaling activities 26 3,297,892 1,290,894 Cash flows from investing activities Proceeds from the disposal of tangible fixed assets Purchase of intangible assets Purchase of tangible fixed assets Proceeds from sale of investments 900 (5.5201 (99,038) {1,025,2501 {1,094,039) 43,612 45,511 {51,8911 (49,981) 53,276 16,133 111,226 38.666 Purchase of investments Dividend income Interest received Net cash used in investing activities (874.547} (1,141.848) Cash flows from financlng acllvltles Loan repayments in year Capital repayments in year Repayments of finance leases 149.5231 197.3681 1110,0161 149,085) {97,369} (135,6391 Net cash used In flnanclng actlvltles 1256.907) (282,093) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 2,166,438 1133,047) 2,612,676 2,479,629 Cash and cash equivalents at the end of the year 27 4,646,067 2,479,629 The notes on pages 23 to 46 form part of these financial statements Page 22
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies 1.1 Basis of preparatlon of financial statements The financial statements have been prepared in accordance with the Charilies SORP {FRS 1021 Accounting and Reporting by Charities- Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 JanLtary 20191 and the Companies Act 2006. The rinancial statements have been prepared under the historial cost convention with the exception of investments which are included at market value. There were no material departures from the standard. Barnard Caslle School meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevanl accounting policy. The principal accounting policies adopted in the preparation of the financial slatements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. The financial stalements are reported in £ sterling. 1.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing enlitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them Ithrough knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in queslion will not be required lo satisfy claims in the estate. Receipt of a legacy musl be recognised when it is probable that il will be received and Ihe fair value of the amount receivable, which will generally be the expected cash amount lo be distributed to the Charity, can be reliably measured. 1.3 Expenditure Expenditure is recognised once Ihere is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each aclivily are made up of Ihe total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs atlribulable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expendilure on charitable activities is incurred in directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page 23
BARNARD CASTLE SCHOOL (A Company Lbmited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (continued) 1.3 Expenditure Icontinued) Liabilib'es are recognised as expenditure as soon as there is a legal or constructive obligalion committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 1.4 Tangible fixed assets and depreciation No depreciation is provided on freehold land. Tangible fixed asset5 are measured at cost less accumulated depreciation and impairment. Depreciation is provided al rales calculated to write off the cost of fixed assels. less their estimated residual value. over their expected useful lives on the following bas1S.' Freehold propety Planl and machinery Motor vehicles Fixtures and fittings Building alterations Computer equipment 29/0 Straight line 5 % slraighl line 10 250/0 Straight line 5 - 33°/o straight line 2 _ 20 % straight line 20 33% straight line 1.5 Intangible assets and amortisation Inlangible assets are inttially rec(KJnised at cost and subsequenlly stated at cost net of amortisation and any provision for impairment. Intangible assets are being amorlised over their expected useful Iiv8s on the following Straht line basis.. Amortisalion is provided on the following basis= Computer SOfare 20 - 250/0 straight line 1.6 Stocks Stocks are valued at the lower of Gost and estimated selling price less costs to sell. 1.7 Taxation The Charity is exempl from corporation tax on ils charitable aclivities. From 1 January 2025, the income of the Charity is subject to VAT. Page 24
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (continued) 1.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricled funds are funds which are to be used in accordance with specific restriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set oul in Ihe noles to the financial statements. Endowment funds represent the pemanent funds of the School. All income generated by these funds are unrestricted and used for the purpose of the School. Investment income. gains and losses are allocated to the appropriate fund. 1.9 Pensions Retiremenl benefits to employees of the Chanty were provided by the Teachers. Pension Scheme IYPS"}, a defined benefit scheme. Non-teaching staff are offered retirement benefits by The Pension Trust, a defined contribution scheme. The TPS is an unfunded scheme and contributions are calculaled so as to spread the cost of pensions over employees, working lives with the Charity in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign befvieen employers. Consequently, Ihe TPS is treated as a defined contnbution scheme for accounting purposes and the conlributions recognised in the period to which they relate. The Charity exited from the Teachers, Pension Scheme on 31 August 2024. The Charity now operates a defined conlnbution pension scheme wtth Royal London Group for teaching staff. The Charity exited from the Local Govemment Pension Scheme on 10 March 2023. Members of this scheme now use the defined contribution scheme for support staff with The Pensions Trust. 1.10 Investments Investments are stated at market value at the balance sheet dale. The Stalemenl of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. 1.11 Provisions Provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, for which il is probable that a transfer of economic benefit will be required in settlement and the amount of the settlement can be estimated reliably. Provisions are measured at the besl estimate of the amounts required to settle the obligation. Where the effect of the time value of money is Tnaterial, Ihe provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specrfic to the liability. The unwinding of Ihe discount is recognised in the Statement of Financial Activities as a finance cost. Page 25
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting poli¢ie$ (continued) 1.12 Operating leases Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. 1.13 Financial inslruments The Charity onty holds basic financial instrumenls as defined in FRS 102. The financial assets and financial liabilities of the School and their measurement basis are as follows.. Financial assets trade and other deblors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 18. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade credrtors, accruals and other creditors are financial instruments. and are measured at amortised costs as detailed in notes 19 and 20 Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability. as the cash settlement has already taken place and Ihere is an obligation to deliver services rather than cash or another financial Instrument. 1.14 Hire purchase and leasing commitments Assets obtained under hire purchase contracts and finance leases are capitalised in Ihe Balance Sheet. Those held under hire purchase contracts are deprecialed over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful Itves or the lease term, whichever is the shorter. The interest element of these OblatIonS is charged lo the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability. Critical accounting estimates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors. including expectalions of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumpts'ons.. The School makes eslimales and assumptions conceming the fulure. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumpbons that have a signrficant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Bad debl provision the full provision provides for 1000/0 of balances thal are not considered to be recoverable. The total bad debt provision wthin the financial statements is £228,40712023.' £123.487). Page 26
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 10,851 1.000 10,851 1,000 68,145 316,845 Legacies Total 2024 11.851 11,851 384,990 Total 2023 384,990 384,990 Income from other trading activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Lettings and event income 204,182 204.182 189,533 Total 2024 204,182 204,182 189,533 Total 2023 189,533 189,533 Investment income Unrestn'cted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Investmenl income from listed inveslments Deposit account interest 53,276 53,276 111,226 16,133 38.666 111,226 Total 2024 111.226 53,276 164,502 54,799 Total 2023 38,666 16.133 54,799 Page 27
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from charilable activities Unrestricled funds 2024 Total funds 2024 Total funds 2023 School fees Other income 13.834.321 13.834.321 12,412,904 39,028 39,028 43.629 (14.955) {14.9551 16,0011 (1.330.351) {1.330.3511 {1,226,652) Net cost of providing school buses Remissions Total 2024 12,528.043 12.528,043 11,223,880 Total 2023 11,223,880 11,223,880 Page 28
BARNARD CASTLE SCHOOL {A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Raising funds - expenditure Other Irading activitles Unreslricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Leltings and event costs Investmenl management fees 48,881 48,881 2,824 52,447 3,231 2.824 48,881 2,824 51,705 55,678 Total 2023 52.447 3.231 55.678 Analysis of charitable expenditure by activities Direct costs 2024 Support costs 2024 Tolal funds 2024 Total funds 2023 Teaching and Governance Premises Welfare 7.013,597 2,132,443 1,351,403 1.227,698 271,829 836,400 7,285,426 2,968,843 1,351,403 1.295,079 6,529,900 2,719,353 1,206,327 943,044 Other 67.381 11,725.141 1,175,610 12,900.751 11,398,624 Total 2023 10,277,202 1,121,422 11,398,624 In 2024 of the total charitable expenditure of £12.900,751 12023.. £11,398,624), £12,895,404 12023.. £11,393,277) was lo unrestricted funds, £5,347 (2023.. £5,347) was lo restricted funds and £Nil (2023.. £NIl) was to endowment funds. Page 29
BARNARD CASTLE SCHOOL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of charitable expenditure by activities {continuedl Analysls of dlre¢t costs Teaching and Governance 2024 Total funds 2024 Total fund5 2023 Premises 2024 Weware 2024 Other 2024 Staff costs 6,316,423 901,026 755,147 624.066 8,596,662 7,730,502 Teaching resources 294,909 294,909 279,568 Premises and grounds Rates Insurance 142,005 144,223 107,913 142,005 144,223 128.381 97,251 140,962 110,100 20,468 Light. heat and water 310,904 310,904 301,292 Other teaching costs 234,487 147,310 234,487 147,310 568,034 7.296 20,926 85,566 440,806 232,726 119,765 514,814 3.762 15,369 82,350 334,277 Travel Catering Laundry Nursing Cleaning M8intenan¢e 568,034 7.296 20.926 85,566 440,806 Marketing and development IT costs Administration Recruitmenl Bad debts 182,103 141.898 108,191 65.740 105,700 182,103 141,898 108,191 65,740 105,700 114,079 106,648 94,907 23,884 (25,054) 7,013,597 2,132,443 1,351,403 1,227,698 11,725,141 10,277,202 Total 2023 6,256,203 1,949,242 1,206,327 865,430 10.277,202 Page 30
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of charitable expenditure by activities (continued) Analysis of support ¢osts Teaching and Governance 2024 Total funds 2024 Total funds 2023 Premises 2024 Olher 2024 Depreciation and amortisation Surplus on disposal of assets Bank charge5 Bank interest 836,400 836.400 770,617 (506} 14,210 52.444 10,271 689 16,995 47,368 3.018 16,995 47,368 3,018 Leasing interest Interest paid lo HMRC Governance costs 271,829 271,829 273,697 271,829 836,400 67,381 1,175,610 1,121,422 Total 2023 273,697 770.111 77.614 1,121,422 Net incomel(expenditure) Net incomel{expenditure) is slated after chargingl{creditin9}'. 2024 2023 Auditors, remuneration Depreciation - owned assets Depreciation - assets on finance lease Surplus on disposal of fixed assets Computer software amortisation Operating lease payments 17.000 755,534 53,668 16.200 712,930 53,668 15061 4,019 75,806 27,198 88,208 Page 31
8ARNARD CASTLE SCHOOL {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 10. Auditors. remuneration 2024 2023 Fees payable to the Charity's auditor for the audit of the Charitys annual accounts 17,000 16,200 Fees payable to the Charity's auditor in respect of.. All taxation advisory services not included above All non-audit serwices not included above 600 475 2,960 6,019 Governors, remuneratlon and beneflts During the year, no Governor received any remuneration or other benefits12023.. £Nill. During the year ended 31 August 2024, travel expenses, being the only expenses reimbursed to Governors. totalled £3,214. These were reimbursed or paid directly to 4 Governors12023 - £2,348 to 4 Governors). 12. Staff costs 2024 2023 Wages and salaries Social security costs Other pension costs 6.820,926 671,879 1,103,857 6,072,294 600,322 1,057,886 8,596,662 7.730,502 The average number of persons employed by Ihe Charity during Ihe year was as follows: 2024 2023 Teaching Support Welfare Premises 115 111 24 22 29 32 38 39 206 204 Page 32
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. Staff costs {continued) The nLJmber of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2024 No. 2023 In Ihe band £60,001- £70,000 In Ihe band £70.001- £80.000 In the band £80,001- £90,000 In the band £140,001 - £150,000 In the band £150,001- £160,000 Pension contributions of £116,963 12023.. £100,326) were made to defined benefit and contribution schemes on behalf of these employees. The total amount of employee remuneration and benefits lincluding employer national insurance and pension contributions) received by key management personnel for their services lo the School was £722.244 (2023.. £731,430). 13. Exceptional items 2024 2023 LGPS exil repayment 1,568,900 The Charity exited the LGPS, a funded defined benefit pension scheme, with assets held in separate government-adminislered funds, on 10 March 2023. During this year, the Charity received a repayment of £1,568,900 from Durham County Council in relation lo the exit. This has been shown as an exceptional item on the Statement of Financial Activities. Page 33
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14. Intangible assets Computer software Cost At 1 September 2023 Additions 143,172 5.520 At 31 August 2024 148,692 Amortisation At 1 September 2023 Charge for the year 41.699 27,198 At 31 August 2024 68,897 Net book value At 31 August 2024 79,795 At 31 August 2023 101,473 Page 34
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15. Tangible fixed assets Freehold property Plant and Fixtures and machinery fittings Motor vehicles Computer equipment Tolal Cost or valuation Al 1 September 2023 15,312,165 Additions 830,017 1,015,714 2.260,734 169.872 64,541 859,645 19,512,799 25,361 1,025,250 At 31 August 2024 16,142,182 1,015,714 2,430,606 64,541 885,006 20,538,049 Depreciation At 1 September 2023 6,516.304 Charge for the year 517.601 336.015 50,786 1,603,091 135,599 23,312 6.210 653.548 9.132.270 99.006 809,202 At 31 August 2024 7,033.905 386,801 1,738,690 29.522 752,S54 9,941,472 Net book value At 31 August 2024 9,108,277 628,913 691,916 35,019 132,452 10,596.577 At 31 August 2023 8,795,861 679,699 657,643 41,229 206,097 10,380,529 Included in cost of freehold propety is freehold land of £55.24012023.' £55,240) which is nol depreciated. Page 35
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Fixed assels, included in the above, which are held under finance leases are as follows: 2024 2023 Cost At 1 September Additions Transferred to ownership 1,033,341 14,400 1993,321) 1.033,341 54,420 1,033,341 Depreciation At 1 September Charge for year Transferred lo ownership 335,960 56,068 1380.6241 282.292 53,668 11,404 335,960 Net book value At 31 August 43.016 697.381 16. Fixed asset investmenls Listed investments Cost or valuatlon At 1 September 2023 Additions Disposals Revaluations 511,996 51,891 {43,6121 53,604 At 31 August 2024 573,879 Net book value At 31 August 2024 573,879 At 31 August 2023 511,996 Page 36
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Stocks 2024 2023 Stocks 62,002 56,371 18. Debtors 2024 2023 Due within one yèar Trade debtors Other debtors Prepayments and accrued income 60.738 11,254 545,937 265.292 6,153 517.611 617,929 789,056 19. Creditors: Amounts falling due within one year 2024 2023 Bank loans (see note 21) Trade creditors 109.634 640,329 314,703 8,578 278,582 2,682,806 146,085 546,402 286,386 119,796 244,703 1.818.070 Olher tsxation and social security Finance leases (see note 22) Olher creditors Accruals and deferred income 4,034,632 3,161,442 2024 2023 Deferred income Deferred income at 1 September 2023 Resources deferred during the year Amounts released from previous periods 1,687,355 1.623.327 2,616,327 1,687,355 11,687,355) {1,623.327} 2,616,327 1.687,355 Deferred income at the balance sheet date 15 in relation lo monies received for school fees and courses for periods from 1st September 2024. Page 37
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 20. Creditors: Amounts falling due after more than one year 2024 2023 Bank loans (see note 21) Finance leases (see note 22) Other creditors 1,492,983 17,585 275,656 1,603,423 16,383 325,481 1,786,224 1,945,287 21. Loans An analysis of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on demand.. Loans 109,634 146,085 Amounts falling between one and two years.. Loans- 1-2 years 1,492,983 110,440 Amounts falling due between two and five years- Loans - 2-5 years 1,492,983 The SONIA (previously LIBORI bank loan is repayable over a period of 14 years on a quarterly basis with interest charged at 2.4010 above SONIA. The remaining term of this loan is 3 months. In December 2021 on the cessation of LIBOR, the loan transitioned to SON IA interest rates. The Coronavirus Business Interruption Loans received in November 2020 are repayable over a period of 6 years. The firsl k*an is repayable on a monthly basis which started 13 months after drawdown with fixed inleresl charged at 2.59 % for 5 years with the 6th year at 2.34 % above the Bank base rate. The second loan can be repaid without penalty at any lime within the 6 year perii)d with fixed interesl charged at 2.66 /0 for 5 years with the 6th year al 2.34°/o above Ihe Bank base rate. The remaining term on these loans is 2 years and 3 months. Page 38
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 22. Leasing agreements Finance Finance Leases 2024 Leases 2023 Net obligations repayable: Within one year Beeen one and five years 8.578 17,585 119,796 16.383 26.163 136,179 The finance leases relates to a tractor, ride on mower. and to the installation and purchase of a Biomass BOir System. The term of the tractor lease is 5 years ending in April 2027. The lerTn of the ride on mower lease is 5 years ending in Oclober 2028. The temi of the Biofflass lease is 7 years and ended in July 2024. The Biomass Boiler System is accredited by the OFGEM Non Domestic Renewable Heat Incentive Scheme. Minimum lease payments under nonwcancelL2ble operating aSeS fall due as follows: 2024 2023 Within one year Between one and fwe years 80.707 70,292 74.018 114,124 150,999 188,142 23. Secured debts The following secured debls are included within creditors= 2024 2023 Coronavirus Business Interruption Loans SONIA Loan Finance leases 1,590,351 12,266 26.163 1,687,719 61,789 136.179 1.628,780 1.885,687 The SONIA loan is secured by way of a legal mortgagè and fixed charge over the School's land. The Coronawrus Business Interruption Loans are secured by way of a legal charge and debenture over the School land and buildings excluding the 'third' field. The finance lease contract is secured over the assets to which they relate. Page 39
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 24. Statement of funds Statement of funds - current year Balance al 1 Septembef 2023 Gainsl (Losses) Balan at 31 August 2024 Expendrture ExceplK)nal item Translèts Inl(¥Jl Unrestrlct•d funds Rèvenue reserve 7,972.604 12.855,302 112,944.2851 16.995 7.900.616 Designated Funds 600.000 LGPS I.568.] 1,$68.900 8.572.604 12,855,302 112.944,2851 1.568.0 16.995 10,069,516 Endowm•nt nds Foundation endowment 45 R•*trlct•d funds Barnard Castle School Pri28 & Scholarship Fund 464,921 53.276 12.8241 18,046 533,419 Heamshaw Legacy $5.660 116.99S1 38,665 Scianco Centre tknation 73.265 15.3471 67.918 593,846 53.276 18.1711 116.9951 18.046 640.002 Totsl of funds 9.212.325 12.9)8.578 112.952.4561 1.568. 18.046 10.755,393 Page 40
BARNARD CASTLE SCHOOL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 24. Statement of funds (continued) Designated Funds contain legacies received by the School which will be used to invest in capital projects. The Foundation Endowment was formed when the School was established. This is considered to be an endowed fund which is held in the form of land. The Barnard Castle School Prize & Scholarship Fund is used for funding scholarships and the purchase of prizes. The Hearnshaw Legacy was a legacy received for the payment of a scholarship for an A Level science place. The Science Centre fund was initially given to invest in science capilal projects. However an opportunity arose in a prior year for two projects, the sports hall refurbishment and creation of the music performance space. The donor was approached and gave his permission for the money lo be used in this manner. Depreciation relating lo these assets is allocated to the fund annually. Page 41
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 24. Statemenl of funds (continued) Statement of funds - prlor year Balance at 1 September 2022 Balance at 31 August 2023 Transfers inloul Gainsl (Losses) Income Expenditure Unrestricted funds Revenue reserve 7.565,763 11,837,069 {11,445,7241 15,496 7,972.604 Designaled Funds 600,000 600.000 8,165,763 11,837,069 (11,445,724) 15,496 8,572,604 Endowment funds Foundation endowmenl 45,875 45,875 Restricted funds Barnard Castle School Prize & Scholarship Fund 455,446 16,133 13,231} (3,427) 464,921 Hearnshaw Legacy Science Centre Donation 71,156 115,4961 55,660 78,612 (5,3471 73,265 605,214 16,133 {8,5781 115,4961 13,4271 593,846 Total of funds 8,816,852 11,853,202 111,454,302) 13,4271 9,212,325 Page 42
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 25. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Restricted Endowment funds funds 2024 2024 Total funds 2024 Tangible fixed assets Intangible fixed assets Fixed asset investmenls Current assets Creditors due within one year Creditors due in more than one year 10.487,696 79,795 63,006 45,875 10,596,577 79,795 573,879 5,325,998 {4.034,632) (1,786.224) 573,879 3,117 5,322,881 14,034.632} 11.786,224) Total 10.069,516 640,002 45,875 10,755,393 Analysis of net assets between funds - prior period Unrestricted funds 2023 Restricted Endowment funds funds 2023 2023 Total funds 2023 Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets 10,266,301 101,473 68,353 45,875 10,380.529 101,473 511,996 3,325,056 (3,161,442) (1 ,945,2871 511,996 13,497 3,311,559 {3,161,4421 (1,945.2871 Creditors due within one year Creditors due in more than one year Total 8,572,604 593,846 45,875 9,212,325 Page 43
BARNARD CASTLE SCHOOL IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 26. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Nel income for the period {as per Stalemenl of Financial Activities) 1,543,068 395,473 Adjustmgnts for.. Depreciation charges Amortisation charges IGains}Ilosses on investments Bank interest received Profit on the sale of fixed assets (Increase)Idecrease in stocks Decrease in debtors Increase in credilors Dividend income 809.202 27.198 (53,6041 (111,226} 766.594 4.019 3,427 (38,666) (5061 (1,326} 30,308 147,704 116,1331 (5,6311 171,127 971,034 153,2761 Net cash provided by operating aclivities 3,297,892 1,290,894 27. Analysis of cash and cash equivalents 2024 2023 Cash at bank 4,646,067 2,479,629 Total cash and cash equivalents 4,646,067 2,479.629 28. Analysis of changes in net debt At1 September 2023 Cash flows At 31 Augusl 2024 Cash at bank and in hand 2,479,629 1146,0851 (1,603,423) 1136,179) 2,166,438 4,646.067 36,451 {109,634} 110.440 {1,492,983) 110,016 (26.163} Debt due within 1 year Debt due after 1 year Finance leases 593,942 2,423,345 3,017.287 Page 44
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 29. Pension commitments The Charitsls employees belong to principal pension schemes.. The Teachers, Pension Scheme England and Wales (TPSI for academic and related staff, a mulli- employer defined benefit scheme. The Charity exited the TPS on 31 August 2024. The Charity now operates a defined contribution pension scheme with Royal London Group for academic and related staff. The Charity operates a defined contribution pension scheme for non-teaching staff. Contributions are made to the defined contribution scheme on behalf of ils employees, the cost of these contributions being charged to the Charitys Statement of Financial Activities. Contributions amounting to £148,261 12023.. £123,651) were payable lo tho schgmes at 31 August 2024 and are included within creditors. Introdu¢tlon The Teachers. Pension Scheme {TPS) is a stalulory, conlribulory, defined benefit scheme, governed by Ihe Teachers, Pensions Regulations 2014. Membership is automatic for leach8rs in schools. All teachers have the option lo oplout of the TPS following enrolmenl. The TPS is an unfunded scheme lo which both the member and employer make contributions, as a perc8ntage of salary these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds Pfovided by Parliamenl. Valuatlon of the Teachers. Penslon Scheme The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of th8 TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Capl Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensLsre scheme costs are recognised and managed appropriately and the review specifies the level of future conlribulions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The lalesl actuarial valuation of the TPS was carried out as al 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023. with the SCAPE rate, sel by HMT, applyng a notional investment return based on 1.7 % above the rate of CPI. The key elements of the valuation outcome are.. Employer contribution rates sel at 28.68010 of pensionable pay lincluding a 0.080/0 administration levy) from 1 April 2024. This is an increase of 50/0 in employer conlnbutions and the cost control. Total scheme liabilities (pensions currently in payTnenl and the 8Stimaled cost of future benefits) for service lo the effeclive date of £262,000 million and notional assets (estimated future contributions together with the notional investments held al the valuation dale) of £222,200 million, giving a notional past service deficit of £39,800 million. The next valuation results is due lo be implemented from 1 April 2028. The employer's pension costs paid to the TPS in th8 year amounted lo £926,79912023.' £863,526), these being up to the point the Charity exiled the scheme on 31 August 2024. A copy of the valuation report and supporting documentation is on the Teachers. Pension website. Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Charity has taken advantage of the exemplion in FRS 102 and has accounted for its contributions to the scheme as if il were a defined contribution scheme. The Charity has set out above the information available on the scheme. Page 45
BARNARD CASTLE SCHOOL (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 29. Pension Gommitments (continued Local Government Pension Scheme The Charity exited the LGPS, a funded defined benefit pension scheme. with assets held in separate government-administered funds, on 10 March 2023. During the year, the Charity received a repayment of £1,568,900 from Durham County Council in relation to the exrt. This has been shown as an exceptional item within the Slatement of Financial Activities. The total employer's contributions for the year ended 31 August 2024 totalled £Nil {2023.. £89,357). 30. Related party transactions During Ihe year Governors made donats'ons of £1.440 (2023: £1.840) towards school activities. and £820 {2023'. £100) was paid to staff as well wishes gifts. P D A Molhersill is a Trustee of The Bowes Museum. During the year purchases of £216 (2023.. £742> were made for Museum visits and room hire. N P Hodges is a Director of The Witham Hall Ltd. DLJring the year purchases of £395 {2023'. £884) were made for workshops. D C Osborne is a Director of Roman Limited. During the year sales of £175 12023.. £Nill were made for brochures. G M Richardson is a Direclor of Teesdale Wesl Durham Community Interest Company. During the year PLITchases of £4,350 {2023'. £Nill were made for outdoor activities. 31. Company limited by guarantee The School is a company limited by guarantee. The members of the School are the Govemors named on page 1. In the event of the School being wound up. the liability in respect of the guarantee is limited lo £1 per member of the School. Page 46