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 c￿eduCatiOnal 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 t￿eS 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 repa￿nent 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 be￿een 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 t￿e4Ve 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 Stra￿ht line basis..
Amortisalion is provided on the following basis=
Computer SOf￿are
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 Obl￿atIonS 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
Be￿een 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
BOi￿r 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