Reglslarad nurnber. 06729913 Charlty number: 1129232 THE ST ANDREWS SCHOOL TRUST (A company Ilmlted by guarantaa) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 THE ST AMDREWS SCHOOL TRUST (A company Ilmlted by gu•rJnt•el CONTEPITS Page Relernnc• and admlnl*lratlvo d•tallB of tho charltabh ¢ompanyi Its and advlsers Tru8tses' report Ind•p•nd•nt audltor•' roport on th• financlal sta¢¢monts 7-10 Stat•m•nt of flnancial •clivlll•8 11 Balan￿ shoet 12 Slat•m•nt of cash flow• 13 Not•8 to th• lIn•￿i•l statements 14.29 THE ST ANDREWS SCHCK)L TRUST (A company Ilmlt•d by guarant8el REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARITABLE COMPANY, rrs TRU8TEES ANO ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Twsteo¥ Sue Bdsb Mlchael HcMJg88 Chris Johnson {resigMd 9 Septembw 20241 Jennrf8r Meara Rose RcOin¥on David Yales (aNxintvJ 9 S8￿eMber 20241 Vw(mica Jones Iresionad 11 September 2023) C¢mpany r•gl•tsrod numb•r (K729913 Charlty r•gl•t•rnd number 1129232 R•gl¥lor•d offlG• Aylmerton Hall Holl Road Aylmerton Norfolk NR11 8QA Independent audltorn Larklng LLP Charlered Acc¥Jmtants Stalulory Auditors 1st FI￿, Prosp&a Hcwo NR1 1RE Bank•rn C¢>op8ratlve Bank PIC Head Offic£ P.0. 8ox 101 1 88lkw Stre M8nchest8f M60 4EP Sollclto 8irkett6 lQngfither Hwse 1 Gilders Way N¢￿ch Nc*fcAk NR3 1UB Page I THE ST ANDREWS SCHOOL TRUST (A company Ilmlt•d by guarantgo) TRUSTEES. REPORT FOR ThE YEAR ENDED 31 AUGUST 2024 Th8 Trustees present their ann￿1 ropryt together *lth the audlted fln*clal statements of lh8 chadtable cnmpany fc* 1 Seplemt*r 2023 10 31 August 2024. The Anrtuaj r8PCWt selves the purposes of bjth a Trustees, rewrt and a d1￿clo19. reFAYt under company law. The Trustees confim that th8 Annu￿ report and financial ststem8nt8 of the tharilable CoMp￿Y ￿mplY knith the current siatLrtCry requirements, the requirement5 d Iho tharitable compan￿5 9)veming d£￿uM&nI and the provisions of the Statement of Recommended Prartic* (SORPI arylicatle to charib.es preparing Iheir aCC￿nts In ac¢LYd8n¢e %¥ith the Financial Reporbng Stsndard aFpliCa￿e in the UK end Republic of I￿land (FRS102) (8ffe¢Xive 1 JaI￿¥Y 20191. Since ihe d)arit8ble compwy qualf18s a8 small under seclion 382 of the Ccfnpanle8 Act 2CQ6, tha Strateglc rep(wt requlred of medium and large cornpanbs under Cunpanies Act 20r￿ {Strategic Report and Directors. RepNt} Regulations 2013 has bgen omltted. Obl•ctlv•B and actlvltte• •. Polkl•• and obl•ctlv•s Our charftys purpo¥e. as Set (yJt In the o¥ects in the rnemorandum and artides of assodation, Is to provlde speclal needs edUca￿On. The aim ol our charlty 18 to a(fv8nce t1￿ educotiTh) of thildren 8ThJ young people ￿th speeth, 18ngu6ge ?nd ccvnmunic811on difficultios. Our aims fully rofloct the purtx)8es that the tharity was set up lo further. main rtJjectNes for thè year 0)ntIn￿O lo ￿ the advancemenl of the of chiklr8n and ycdjng pwle wth Speech. 18ryu0ge 8fKI commuThcation diffi￿1￿•& Tho 8tr8togies used lo meet those objgdive8 Includ￿, - Teachlng a broad and balanceA curyiculum In accLirdance c￿r pc41de8', - Providlng sultable bulldlng and teathing fadlHJ'e& **ich are refiecilve of th8 needs of th¢xe balng educated,. - Working in accordan¢e with tho principles and ethos of the Rellglous Sccety of FTieTrJ - SupFvrting 5tLbJenls wth their mental health n¢ed& ar - Undefs(andir¥J the w￿riC 4rKI irKlividual ngeds of those ed￿ted. b. Maln actSvltl•s undertaken to further the ¢h•rltable MrnpanV¥ Purpo￿ fw th• publlc b•n•fil In setting d)leclives arKI FAanning for activilies the trusiees have given thje C￿sideratIon io g8neral gudan pl￿*11$￿ed by the Ctwlty c￿nmis￿on relattng to p￿lIC bonefft, Includlng the g￿danC¢,PUbllc bemfit.. wnnlng a charity'PB2. A¢h￿voM9nts and porfonnanco •. R•vlow of •cllvi¢l•¥ The number of studffrts in the is 54 an inc¥ease rA 9 St￿jents the previous year followrrvJ approval frcrn Ihe Departmwtt Education In DerAnber 2023 8n increaye In Siuderrt numbers to 6D kthlch c8me into effecl frcm Sept￿be[ 2024. Th8 scIKK4 vms In Marth 2023 aTrJ was Judged 8$ 'Good' in all areas. Technoloyy proylsion in the sthwl cthlnues to be expandgj u[￿ate{l as orrrent teChr￿0YY nèats the end of its life expectancy. New laptws purthased to caler for the increase In student numbers and old laptCP5 are betng replaced wth ne￿￿T rnodels. In addition, m(¥e desklop Pc's arKI monilm were purchased to allow teac￿￿ add￿O￿al use durinq n(￿-teachina times t*•ith two extra n)o¥ns in the main bulldlna beSng renovated to Page 2 THE ST ANDREWS SCHOOL TRUST (A company Ilmltsd by guaranto9 TRUSTEES. REPORT IcopifiMuED) FOR THE YEAR ENDED 31 AUGUST 21)24 Achlevem•nts and P•rforn￿¢• {￿rtInued) provide office spece them to V•YJrk in. The physlcal and M￿ts1 health and **llbelng of thents remans of upmost Imwrtanc8 to the 8chod, and it continue$ to Lrfler PE lesscm$ per wtek f¢Y each claw In additi'c￿. the lunthtime provis1c￿ h8$ been increased lo offer not orty spJts activities bul akn a range of dub8 suth as malhB. dTes5. Scalextric and Lego. Students Continued to enjoy off •ts actrvltios and ts u&e ol the Kh(h)I minlixms akn enotled a range of lrfe 11, s(￿581 skill and caTQeTS I0￿¢S lo be taught. Grarrt appmval for a new mlnlbus has been secured vla va￿¢ty and orKe 8 spon50r Is found 8 new bus VAII be provided wth the x*KoI only havlng to cover a third of the cost. The 8chwl Intygased its extemal (￿UnSellIng setvi(* to two (x)unsellors11 male, 1 female) vknich has 8e8n grty*h in the number of 81udwts ¥tho cen now [￿Vide thls sgrvice to L)n 8 ￿￿klY ba￿s. Thg 1*8rity h88 conlSnued the devebwTwI of the ladlltl•8 dwlng the year, carylng a lull renovation lo unu88d arg3$ in tho main building èxtra %thing space for t83¢he￿. new upvc wndcths have 8180 been instslled in ￿Jr D&T bkKk ma￿.￿9 this area IKdmiaf 8fKJ quieter. A new reb)und fén¢0 and gale have been In￿lled amund the astro turf as the old ch￿Tr fondng had ¢om8 loose in Sever￿ areas and VAS deemed 8 health and safety ri¥k to the studwts. A building ¢orKlilions survey and rerAIrt 1$ due lo be commi88iorKd lo highllght 8re8s of the builrfing Ih¥l req￿re 8ttenb.on and pnoritlse them in (xder of need. For Instancè. the main buildinG is likety to need a new roof. b. Inv•stffl•rrt pollcy and perfomMn¢• A81de from reta5nlNd 8 prudent amount In reserves each year, most of the funds are lo be Spent In tha short tem). $0 there are few fuThls avallat4a for long temi Inve#merrt. The sa￿ngS acc4)unl I￿ntInUeS lo be top￿￿ up ￿ a yeady basis to ènswe Ihol the￿ are wfficient funds to cover rethJTh￿anCY costs for all employed staff. Rem8inlng b81ances a￿ used lor in year improvements ￿11 be 98vfjd un￿1 there 19 encwgh Su￿u3 to ace Ihe rem8tning portacabin V*ith a further et£s build in future year& Fln•ncl•l revl¢w & Golng ¢onc•rn After making aFproprtatg onquines, the Trustees hav8 8 reasonatrfe expe¢tsb'on that the c*arhable company has a¢Jequale reS￿l￿eS to CLYrtinu8 in Operati￿al existence fcy the forgseeable futu￿. For this rea80Tr, they CC￿linue to ad¢Jpt the going concem basis in wepwing the fin￿(la1 Statem￿ts. It h8s been confiryn&l that fundlng will ry)ntinue until Marth 2027 al ojrrent furKling rates Fer student. The schod ￿ntInUeS lo re￿1Ve sttjdent ￿acement requests from Norfolk County coun￿1. Iherefm, funding Nbill b8 secure for the next academic year, hQ￿￿er gsiTrJ by Norfdk Cwnty Councll on Its Lwal First IndusFon proIfy￿ means that at present the kry48rn1 ￿tiOn of st*¢)S Is unknKhvn. The st*i)ol conllnue9 lo work with the Locat Authority to ty aThJ ser￿1￿ a lonfrlerm agrewnenl for them to (xlntinue lo place stUd￿ts at schcol. The sch￿￿ faces the prDSped of losing eleven studerrt5 al the end of the academlc year 2024126 aTrJ wll not know fin81 student numbers the academic year unlil August 2025. Page 3 THE ST ANDRE¥Y3 SCHOOL TRUST (A ￿)MpanY limit•d by guarant••l TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 b. Ro¥•rvM pollcy The surpSu5 for the year of £32.350 {2023.' £217,012) continue¥ lo be inv8sted in the furthw devek4)ment of the sch￿1 facilities p81ticuL8dy In the ar88 of e¢0 daW(￿ls. The trustees, in conjunction V•ith management. regulaty revlew the ol the sctthl and rec8lv6 monthty managefflent accounts ￿lch give an overview of W*ell spending is managed against budgeL The level of re8erve8 within the thcKA18 revlva*d *llhin thls framvmyk. The trustees have rgvlsed thelr vlews on the arn￿￿t of reswves to b8 hold and have declded to hold fund8 to cover actual redwdaw costs due at the ¢rKI of any ocademic year plus existing LX)mmlth)ents. Unrestricted reseryes as at year4nd were £2.231,226 (2023.. £2.198,8761. Resfficted funds as al the year- d were £Nil (2023.. £Nill. Detsils of the restricted l￿dS (gn be f(MJnd at nolo 13 and 14. Free reseryes on 31 August 2024 totsl £682,232 (2023: £637,$36). Stru¢tur•. qovwn•n￿ and managwn•nt Constftutlon The St ArKlrevls Sthool Trusl is 8 (th￿￿bIe uJmw)y limited by guwwrteg, incrypora￿d cn the 22 October 2008, and regislered as 8 (tsrity on thg 21 April 2009. The tharitable company was 86t8blished under memor8ndum of assodation ￿ld) eaaUished the rt*jeds and of the tharilaNe C￿panY and Is vemed under the artides of asgxiation. In thg event of the d￿ritable ccynpany being Vtvund up, the mombors 8re requlrod to Gonlribulo an am(yJnl not exce8ding £1. b. M•thod• of •ppolnlm•nt or •l•ctlon of Tru•t••# Th• dlrectcys of the company are 8190 charity tru8tee8 f¢x the KXffKXMS of tharity18w and under the o)mp8nl8 artlde8, ar8 knovm 8s members of the rnmpBry. All eppoiniments and re6igroticffls arn rev1th￿d at tho wnu81 ge￿ra1 meeilThJ and If necessary, voted up)n by the members and deadod by a Majority vote. Due lo the nalure Lrf the c*witable ccqnpanls th ￿ttl¢h inevitstAy fr￿Se& uwn children and young people, the trustees ol the tharltabje company seek to ensure that the needs of these group3 are aFpropriatety reflected ttwwgh the diversity of the truslee board. wt￿ I￿kIr0 at ￿ aF￿ntrn￿, the t￿￿te8$ con%der the skills that each polenti81 trustee can bring to the ¢haritsble company lo mainl8in 8 bioad mlx of skllls. quallflcallons and business kn¢￿edge that Y*ill assst Ihe chwitable companys gr(hth. In particular. skills are lost due to retirernents, individuals are aFvoadbed to offer themselves for eleclion to the trudee board. Sonlor Manag•rn•￿ T•am Pay Pollcy The trustees review the pay of the senior manag￿eni team in late summer (K e8rty autumn lem. For the last four years they have Implemen￿ the pay awarts giv￿ by cerrtral wvemmerrt and have followed the same in¢rementaJ W￿3re￿l0n as nati￿8¢ pay scales f¢x teac*￿9. The trustees hos%tver hav8 nol foffnally adopted ary national pay scales as this Ihen gives greater flexibilty lo offer awarts atr¥)ve or below national rdtès to fit the needs of the sChc￿ arwj individual perfo￿anCe levels of slaff. The Intwlm ExecLrtive Head stepped do*n frcln th 31 ALWSI 2￿24 WKI is now the Chlef Flnance and Operdlions Officer followng succe￿1￿1 app)intrn8nt of a new Headteathw ￿ CL¥nmenced employment with sthcol IXJ 1 September 2024. The f(mer Head of SdKxI alg) Stsp￿ dovm from rolé 31 August 2024 and P8ge 4 THE ST ANDREWS SCHOOL TRUST (A ¢wipany Ilmltod by guaraTrtse) TRUSTEES. REPORT IcoKfiNUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Structurns gov•rnanc• and managwn•nt (contlnu•d) is now the SL*￿￿1 SENCO. The Headteathers salary w8$ sel using n8tional pay bands Laimmen5urale for the b8nd of school arKI the salanes for CFOO 8nd SENCO ￿re revised dcthn in January 2025 and November 2024 re8P8Ctively to cffislder the Inltlal ¢yo86 over bel￿ roleB aThJ to enatle the new Headteather lo em Into the %h¢X4. d. Ri•k manJg•rrnnt The trustees have assessed the rtsks io ¥thk* tho cornpany Is expJg8d. In parucular those reloted to the operab￿¥ and financm of ts th8ritsble cx>mpany wd are satisfied that systems and procedure5 are in place to mltigate cMJr exFM)wre to the mas(* risks. Mental health ol thg students is a partiajlar issue fClkw￿ThJ the 8econd lOd(do5￿ and the sthool Is SUPFQrtlng eath L*ild indNidually. This is e￿n9 a$ ttme kyogresses and suitable interventions have been put into p4ace fty all those students ￿ V*pre requiring •jdibl￿al supwt. This supwl has been offerod through providing 1..1 c4Jun8elling 8es9ions. more self4egulalii)nlthwapy Input. drawing and talking Ihernpy and acceswn9 extemal help and ￿pF*￿t a$ aprxc4)riale lo meel individual needs. The sthoo118 ¢onlnulng to Invest in t8￿rGe5 u8lrvJ catth up fvndiw indudlng Ilteracy aThJ maths Inlerventl(M)S and pro3rammes. It has also invg*ed in a number or other literacy inteThentions induding NESSY and spdlin9 8hed. The stsffing structure has charyd fdlov4ing appointment of the naw Headteacher and middle managern are rKM pkwse arKI 8ubj&# leads. Plan• for future perfods The trustees remaln committfyj to enwjrfng that the Stud￿ts rec4lve tha best 8dueaUon po86ible and feel that11 18 ImiyJtsnl lo have hlgh qualty re￿UrCes to be •ll¢ to re￿ thelr full potential. As uncert8lnly exlsts around the future number o15tudents and fee income remains at a fix￿1 rate tho sc*ool will need lo becx)me more prudent with its 8PWKting plans. Th8 9001 htr*pvw fefflain¥ lh8 rePlac￿nent of the remainlng old portacabin. The school has ixwghl In the servi￿3 cl extemal provldw5 to offer Forest 8thod and photcgr8phy ther8py to somè of our stud•nls who are struggling wlh menlal health or seK-e8teem It buy8 into an extemal altemaliv8 ￿1$1￿ wish to ur>Jatske a more practical course In ye*s 10 arm1 11 that cannot be offe￿1 by the Sth￿l. It ¢xnllnues to Invest In staff development ￿111 enhwKe Ihe le8rning eXp￿ence for the Stud￿lts. Stgff d¢veli)pmenl wll be mrxe targeted and slr88mlined in fLrture ye8rs. It ¢J)nllnue5 lo employ 8 beh8viour manager %tho has attended a varlety of trainiryj ￿)Urse$ to enhance his understandlng of our students and enable him to impleTnent specific b8haviow le￿￿￿]l￿5. It pu￿h￿se5 the Servi￿ of Lxjunsgllors vi%t Ihg one day eath per lo offor support for stUd￿ts who req￿rE additiC￿al fflerrtal he*th sur4) It has strengthened the provls6on (rf **llbelng for aaff by buying in extemal SUPF(rt vla Schts)Is visory SeNice. The pthge inckKles to GP seNKes. p￿￿01h8rapy. L¥)unselling, Occupati￿81 therapy assessmerts as wpll as a host of ¢Xher servlces. Paoe 5 THE ST ANDREWS SCHOOL TRUST (A Gompany Ilmltod by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Fundralllng *ctlvitl•s Th8 charity dld not se(fft any gr8nt furmjing in Ihe year. The tharity is not awa￿ of any failures, during the y98r ended 31 August 2024 {2023'. rKThl. by the charity or any pers(m ac*ng on Its behalf. to comply ¥￿th tts fundraislng 8tand8rrl8, ncy thd il recdva any wmplairts fundraising activity. The chariV8 Televant 81aff havo been provided ￿1th tralnlng ￿ how to Frfotect vulnerable people other members of th• puLll¢ from behaviour is an unreasonable intrusion on a t￿￿￿.5 ￿1VacY. is unreasonably persistent,. and ￿aceS undue pre¥surn on a pfjr¥w to give mongy cff ottw prwty. stal•m•nt ¢)f r•wn•lbllltl•• The Tnjstees lltho 8re olso the directCY9 of the tharit8tAe c4)M￿Y for tts pur￿￿0$ of ¢omp?ny lawl are res￿&ble Pfeparlng Ihe Trustaes, reF¥Jt and the fIn￿O015taternen1s in 8co)rd8n(* applica￿8 law and United Kiryd(wn AC￿Untrn9 sts￿ardS {United I￿n9￿ Generally A¢¢apted A￿nIng PraGtIGe). Company law requir80 the to pr•iar8 finan(?al statemonls for each finaniial . Under wmpany law. tho Trustees mu81 not appwove the financlal Statements unle&9 they are satisfied that they give a Irue and lair view of the state of affalrs of the ¢harltable ¢x*npany and of ils incL¥nlng resouw and aF￿IcatIon of re80urce8. Indudlng Its Inco￿8 8ryJ expendlbjre, l(Y Ihat pwlod. In these financlol ￿ments. tho TN$t985 arg required lo: select Slltable accC￿nIng wllues and then appty thém eonslstenty.. obseNg the method6 and principles of the Charitses SORP IFRS 1021: mak8 ludgments and acCoUn￿n9 85￿mateS that are reax)n8tle arKI W￿d￿l,. state thether apFdic8ble UK Acc(xIn￿rrfj St8nd8nJs (FRS 1021 Iwe bean follo¥￿d, gubje¢t lo 8ny material tJep8rtures dist4c*ed arKi explained in the finanaal *aierngnts: pr8pare the finanual slatemgrrts on the gC1r￿ ccwwn basis unl988 tt18 InapworKlato to pr8￿me Ih8t tho chwitable o)mp8ny will rx)nlinue in i￿sIneS8. The Trustees are respon￿ble fof keew'ng adequale ac(x)unting recc*ds th8t 4T9 suffirAent to show arKI exFlaln the chentable c4)mpany's trans8clions and diyAose with reasonable 8ccuracy al any Ilme the flnandal position of the tharitable company and enable them to ensu￿ Ih81 the finanual slatement5 cornply wlh th8 Companies Act 2006. They 8ro alw r8SPffi8iiAe for 58fe9u4rding thg 0s¥gts of the thoritablg crynpany and hew for tsklng reasonable sleps for the Preventi￿ and det￿￿On of fraud a￿1 othw Irregularitigs. DISCI￿￿r• of Infornlatlon to audltor• Eath of Ihg are Trustees ot the ts'me *then thi8 Tnjstees, is approved has confim6d th&" 80 far as that Tr￿tee is aware. there 18 rolevarrt 0￿j11 info￿allL￿ of the c*arlty'8 audit￿ are unavtare. thal Twslee has taken 811 the steps that 0￿h1 fr) have b88n takn as a Trth in orilw lo be aware of any relevanl athjit 1nfcfmatlt￿ arKI to establish that audit￿8 8￿r0 of that infLYmation. Akyoved by ￿der of the memtets ol Ihe b¢￿rd dTwstees sigrnd on ther behalf ty. J•nnif•r M•ara rustee) Date: 19 May 2025 Page 6 THE ST ANDREWS SCHOOL TRUST IA company Ilmlted by guarnnt••) INDEPENDeKr AUDrroRS' REPORT TO THE MEMBERS OF THE ST ANDREWS SCHOOL TRU8T Oplnlon W8 have auditeil the financ481 stalwnents of The Sl Andrews SCIKMJI Trust (the 'tharit8ble cornp8nq) for the year ended 31 August 2024 comprise th8 Stalemenl of finanoal activlties, the 881ance 8hag1, the Statement of cash 110￿ arKJ the related note5. induding a Summary of Significant aGcounling polici95. The finan(>81 rewrting fTam6*ork that been applied in Ihwr weparation is ap￿1¢able law and Uniled Accounting Standards, induding Finanaal ReF*Jling StaTrJ8rd 102 The Financial RepDrting Stsndard appliCa￿e in the UK and Republlc of Ireland (United lQngJ(xr Ger*rally A¢¢epted Accwnting Practice). In our oplnlon the finarlthl statern￿: gfve a true a￿1 fair view of th8 *ote (rf the L*aritth c4jrnpa￿s allaks as at 31 Auwst 2024 and of Its incoming reswrc*s aThJ aK¥licatron of Ind￿￿ng lis IrKxxne and expwKIMure for ￿ year then ended- have beM prnpwty In aGrordm *ith United Generally AC￿ntIng Pra¢Xir*: arvj have ljeen Sn accaxknce req￿reme￿5 of Ihe Comp￿￿ 20L￿. B￿1$ for oplnlon W8 rnndu(Xed our a￿111 in 8(xXydW￿ with Intryrnab'(xHI Stsndard8 on Audltl*YJ {UKI (ISA6 IUKII and applkable law. (￿r respffisitx'lille¥ LVKler those #a￿l￿d5 are further described in Ihe Audit￿. respcmsl￿litIeS for Ihe audit of tha flnand81 #atern￿ts ￿tion of re￿rt. We are IThje￿JeTrt ol the chtrilèble company in gccrydance wth Ihe ethical requirements thal are relgvOFrt to wr 8thIil of fv fin￿(481 ¥t8temenls in the United KiThJdom, indudir8 th8 Fina￿14 C￿r￿l'S Ethi1￿ stand￿d. 8rKI h8ve fulfilled our other ethi¢01 resp￿*bIlitieS in ac￿da￿e with the88 rewirements. In wtiwlar, V•f h8ve akylied thè èxemptlons avallabk8 ithin the FRCS Ethical Standard - Provisions Availat48 for Audits of Small En￿￿ets. paragraphs 6.11 and 6.15, In tffovldlnu aSsf$tsn￿ *ith the cal(￿L9tiOn of Kt￿ntIng adjuthents. We belleve Ihat the a￿lIt e¥ldw¢é havg obi8ine(l is suffioent arKI appr(¥rri￿e to PTovhJe a basis f(ff (xx cynK)n. Con¢lu•lon• rnlatlng to 9olnq conc•rn In awjiting the financral staternents. havo c£mduded that the Twstee5' Use Lrf the golng concem basls of aCC￿nting in the preporabon of the fin8rn?al statementB is arvcFriate. Based on the have pertomled. have rKrt Id￿lIf$ed any materlal un￿taInbe5 relating lo evenls or condrtions that, indlvldualty or colleclively, may ca* ￿9ntheant d￿bI on t￿ choritsble company'5 ability to nlinue as 8 goirwJ (£￿￿rn for 8 peri(xJ of at least t￿￿ve months from ￿en the flnand81 st81ements are aulhodsed for issue. (￿r respon￿bI￿aS and the resp(YbSitAlities of the Trusloes th rgSP9th to gdng (￿CeM are dexNbed in the relevant %clions of thi8 r&pcrt. Page 7 THE ST ANDREWS SCHOOL TRUST (A Gomp•ny Ilmited by guarant•e) INDEPENDENT AUDffORS' REPORT TO THE MEMBERS OF THE ST ANDREWS SCHOOL TRUST ICONTINUED) Other Inforniatlon The other informatlon comwises the infomation if￿ud￿ in tha Annual report other than thg financi81 statemenls and our Auditors. reF*Yt thertL)n. The T￿￿teeS are respon￿ble the other irrformation C[￿laIned ithin the Annual rekxyl. Our opinion ￿ the finanLJ81 statwnents does not cover the other Info￿ation and, except to Ihe extgnt othwwisg gxpIiLYtIy 8ts18d in our report. ￿ do rK)t oxpre5s gny fomi of 8SSLwance conclu¥ion 1k￿reOn. Our r88pon4bility is to re•J the infrm81icn and. in doing so. c￿81der whether the other Information i¥ mal¢dally lr¢ccf¢￿stenl Ylth the Ilnandal statements or knth￿e￿ge obtalned in the Lrse of the audit, or otrwth80 appear5 to be mat8dally misstated. If V•P idpnbfy such matèrtal Incon￿stencIes or apparent rnat8rs81 misststem8nls, ￿ are r8quired to detomiinè wthelher this gives rise to a maledal misstatement in the flnonclal statements Ihwnsetves. If, b￿d on the Kirk ￿ have p6rfom)8d, ￿ conclude that thera 1$ a materi81 misststement of this other information. ￿ are required to report th* f8Ct. We have nothlry to rekYYt in this reg*d. Oplnlon on oth•r matt•rn pr•scrfb•d by th• Companl•fj Act 2006 In ryjr oplnbn, based on wark undertakon In thè of the the 1rrfornat1c￿ glven in the Tru8tee8' repyt for the flnanca81 year for wfilch the Ilnancig18talernents arg prepared Is con￿Stent vath the flnanaal statements. the Trustee8' rep(yl ha8 prwed In aF¥)Ilcabte legal requlrements. IAatlgr• pn whlch w• ar• r•qulr•d to report by •xce￿lOn In the ligm of our kn{Y￿ed9• 8nd und8rntsndin9 of the th8ri18ble ￿fflP8ny and It8 envIr￿rn￿¢t obt81ned in the of the audit, we h8ve not malerial misslalements in the Tru8tees' report. We have ncthlng to rBFK¥rt ift of thè foll(A*lng malters In relaljon to vthi(* Cunpanles Act 2006 requlres U810 report to yw if. in owion: Jwuate acwuntlng records have not bggn kepL cy Telums adequ8te fty our audlt h8ve ￿1 been received from br8nthes not VI￿led by us: or the financlal statements are not in agreement *lth the aC£￿nting reo)rds and retum& c certain disdosurgs of Trustee¥ remurw811on SF*dflgd by law are not made. or we have not received 011 the inforrnation and 8xpl8nalions ￿ require for our audit,. or th8 Trustee5 were nol entitled to prepare the flnandal *atements In accordanrE with the small o)mpani85 ￿31m0 and take adv•)t8ge of the 8mall cornpanie8' exemptions in preparing the Tru8tees' report and flun the requir8merrt ￿ wep8ffj 8 Straleglc rep(wl. R•Jponslblllt1￿ of trust••s As 8xplainad more fulfy in the Tnth. r8$W￿SibIlitieS statement cfft page 6. the Tru8te88l￿O are 819) the dIrect￿5 of the Chor[tab￿ cthnpany for the wrposes of ctYDP8ny Iww) are responsi1￿e for the weparaUon of the fin8ndal statements and for teng salsfied that gove 8 true and fair view, and for SLtth intemal ttffitrol as the Trustees detemiSne is necessary to en8￿0 Ihe FKyation of finwial statements that are free from materfal misslatemert vjhether lo frydud (x errw. Page 8 THE ST ANDREWS SCHOOL TRUST (A Com￿nY Ilmit•d by guarnntsel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ST ANDREWS SCHOOL TRUST (CONTINUED) RMponxiblliti•s of trust•es Icontinuod In F*eparing the Ilnona81 statements. the Trusle89 arn re6pM8[￿e fty assessing Ihe c*8ritable company's obility lo conlinue as a going concwn. disdo￿n9. as applicatle. matters related to gc4ng thrTrcern arKI wng the going ¢onwn ba%5 of accounting unless the Truslees wther Intend to liquKl8le the ch8rit8bl8 compgw or to cfjaso operations, or have no re81islic attefflalive bui to do ￿. Audliorj. r•4)on*lbllttl•* for lh• audlt of th• flnanclal *tat•m•nts r objectives aro to obtain raasonablo assurnnce ￿thether th8 financial staternents as 8 8re fre8 from materfgj misslatement. due lo fraud or eNN, lo Issue an Audit(Ys' repcwt that indudes our opinion. Reasonable assurance Ss a hlgh levol of assur0r￿. tr￿1 18 r¥)t a gu8rant88 that an audlt conducted Sn ac¢xJrdanL* vath ISAS IUKI wll ahvays ddect a materfjal mlsstatement It exists. Misstatements can arlse from fraud or error and are c￿￿Idered matorial if. individually or in the a9gregate, they could re850nably be expthd to inlluenGo the e￿n0m￿ deryst¢)ns of users taken on the ba81$ of th9se fin8nci81 statements. Ext•nt to whlch th• audlt was capabl• of d•l•¢llng Irregul•rltl•¥, Includlng fraud Irregula￿tIo8 induding fr8ud, ar8 instances ol n0nwcunpl1ar￿ 18w8 and regulatlons. W¢ design procedures in line *llh I￿r r8sponsibilitias. ouulned ab)ve. lo detect m818rAI mi55tatemenls In respecl of Irregularities induding IraLKI. ex￿1 to our are capable of detecting irregularflies, induding fraud is detailed below. Due lo Ihe field in thlch the charflable t￿MpanY oporottss, ￿ idenlifie(i areas most likely to have a direct materlal impact on the financaal Statements 05 comtAiance vAth a(%￿ntIng standards, induding Ch8rities SORP IFRS 102) and tharlty law. In atSJltlon, ￿ con81dered the wovlsicffi8 of other laws and regulallon8 vthlch, %th1181 not havlng a dlrect Impxt on the flnancial *alement8, are fundamental to tho charltable companys ab'lty to operate. Including salaguwding requirements. hè81th gr*J safely, employment law, data protedon and compliance valh v8rious other WlatiOr￿ refevanl lo the CLv*Jucl of the chadtable company's operations. Our approath to identifying asgesslng the rfsk of m8tef181 misst8temwrt in resP￿t of Irr8gu18rltles, indudlng fraud a￿1 nc￿￿OrnplI9ncO wth18V4B and regulations, induded the foll¢)wSThJ: Enqulrtes ¥￿th management and the Trustees aiKsuI any or SUSFected instances of non>n￿lar￿e constitutional and statutory requirements. Chadt8bl0 a(livili68 and Govem8rt8 costs oro Lijsts Incurr*Y on the tharftable companW6 educatsonal operations. including 8UFfOt L￿ts and co516 relatiThJ to the govemanc* of th8 charftable company aFwU1 of pengons over em￿￿oYees, W￿rknng Ir¥es vAth Ihe Sdxx)l in sud) a vray that the ponsion cost is sut6tantially level pwcentaga of Current arKI futurE pensic￿tle p8yfDII. The contributions are determined by the Govemment Actu￿ on the iw's of qu8drennial valuations u%ng a prospectfve unit cxedit methtsj. TPS is an Unfl￿&￿ muth"-eM￿oYer ytheme no uThJerlying assets to assign betsveeft wnKAoyef& Consequenuy. the TPS is treated as a defin8d tt)ntribUti¢￿ scheme for ac￿nting purFM)ses and the contritrtrtior6 re￿gnIsed in ihe pericKI lo vknich they relate. Page 16 THE ST ANDREWS SCHOOL TRUST IA company Ilmlt•d by guardnt•• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accauntlng polleles (conllnu•d) 1.14Fund accountlng Gweral fUr￿S are unrestrided luTh18 *thich are avallaLle lor uee at tho discretion of the Trustees in further8￿ of the general ofy'eclives of the thwitablg (￿Mp8nY and have not teen de9gnal￿ for other wrtKtses. Deslgnated funds comprlse unrestrf(*ed lunds that have teen s6t aside by th8 Trustees lor particular purposes. The aim and use of each d8wgnated fund is set out In the notes to the flnanclal statements. R8slricl•d funds arg fund$ t*thith 8ro to bo u8ed in acwd¥n￿ ¥¥ilh sp8c4fiG fgStriction8 imposed by dorhy¥ ¢y vknith have been by the charilatle lxmp￿Y fcy partI￿lar purw5eB. The (x)sts of T8isir¥J ￿ admini￿ering fuThJ$ are th8fged 8gain51 the speca'fic fund. The alm 8nd us• of each re8trided fuThl is set (Krt in the n(X8s to the fin8ndal giglemerts. Incom• from charllabl• actlvltle• Total funds 2024 Total funds 2023 fundB 2024 NCC Fees 1,856,406 1.856,40 1,861,500 Tolal 2023 1.861,StXI 1.861.5CIJ Inve•tm•nl In¢ome Unrn•trlct•d lunds 2024 Total fund 2024 Tot81 fvnds 2023 Interest relxived 6,452 6,452 2,458 Tol812023 2,458 Page 17 THE ST ANDREWS SCHO(X TRUST IA Gompany Ilmltsd by guarant•e) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2024 Other In¢omlng r••ourc Unrestrlctsd Rmtrict funds fund• X124 2024 Total fund• 2024 Tolal funds 2023 Othw incoma Pupll premium T8acher8 Penglon8 Employer C(ffitsll￿ti(￿I Granl Covi&19 fundlrvj 1.487 1,487 13,455 7.395 14,190 13,455 10,908 21.951 10,908 21,951 21,589 1.487 46,314 47,801 43,IT4 Tot812023 7,395 3&779 43,174 Thg Ccvld-19 fu￿lIng of £21.951 relates to 8 caith up WL P8ge 18 THE ST ANDREWS SCHOOL TRUST (A ¢ompany limlt•d by guarantso) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2024 atysls of exp•ndltur• by aGllvid Activlti•s undertaken directly 2024 Support Total fvnds 2024 Total funds 2023 2024 CharitalAe activitie$ Expenditure on govemarKe 1.811,6tM) 252.640 14.069 1,864,240 14.069 1,677,508 12,612 1,611.6(N) 266,709 1,878,309 1,690, 120 1.690, 120 TO$￿ 2023 1,454,013 236, 107 An4￿18 of dlr•ct ￿$1• Totsl tund• 2024 Tol•l fvnds 2023 1,480,950 6T,829 27,776 5,607 28,07fj 1.362 1.324.488 80,469 20,486 4,871 23,594 105 stsff costs Oepre¢l8tion classr￿ Sutl'ed resources Rent and rates Llght heat D8S costs 1,611,000 1,454,013 Page 19 THE ST ANDREWS SCHOOL TRUST (A company limlted by guarantee) NOTES TO THE Ftr4ANCIAL STATEMENTS FOR THE YEAR EMDED 31 AUGUST 2024 Anaty•ls of expondllurn by a¢lMll•s Iwntlnu•d) Anaty•l* of Support ¢￿ts Totsl nds 2024 Total funds 2023 Llfe s￿115 and trips Trav81 Free school meals Tralning ¢os18 3,079 8.611 8,047 11,312 3,$38 51,165 5,716 2,437 9,934 14,413 4, T56 54,829 Maintenance L li Teleph Subscriptions and li(*nses Insurance SuThJries Cal¢h up re8wrce8 Postage and statsor*ry Equipment and fflateria18 Au(ilt and 8￿r￿JntanCY leos Profeslonal fegs ICT 11.666 30.696 40,985 28,297 18,649 9,662 24.847 31,953 21,546 8,303 8,341 4,300 12,612 10,751 11,707 4,711 14,069 15,911 6,324 286,709 236, 107 Audltor%' r•mun•rJtlon 2024 2023 Auditors, remuneration 12,000 10,¢ Page 20 THE ST ANDREWS SCHOOL TRUST IA company Ilmli•d by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Wages and salanes Soaal security c4)sts Pol￿On costs 1.174,809 108,887 197.254 1.076,850 92.089 155,549 1.480.950 1,324,488 The average number of p8Trons emplo￿ by th8 charftablg o)mpgny during Ihe year was 85 foll¢)va.' 2023 Employees 41 The rwmber ol employees %%*ose emF4oyee benefits {exduding employw p8n%on costs) exceed•d £f￿,000 was: 2024 No. 2023 No. In the band £60,001- £70.000 The key managemenl perS￿ne1 (KMP) indudes Ihe trustees and those member5 of 51aff a￿ senior management personnd to the Twstee5 have d￿egat￿l respon￿bIlIty In tha day-l￿daY runnlng crf the charftsble C￿pany. The total amourt of remuneration re￿Ve￿ by the 3 membeTS of KMP12023- 31 fry their serv11￿ to the was £226.223 (2023- £266,423) for the yw. Tru*te••' T•mufi•rJllon and expenM• Dudng ltr￿ year. rKJ Truste8s recefved any remurwation ry olher b￿errtS (2023- £NIL). During the yeai ended 31 A￿uSt 2024. exp￿888 totalling £NIL wer8 réimburs￿ or paid directly to trustees {2023- £167) in relation lo Free SdKM)l Meals. Page 21 THE 8T ANDREVfS SCHOOL TRUST (A cOfflp￿ Ilmltod by guardntge) NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 AUGUST 2024 Tanglble fi￿d amets Fr••hold Fithre• and ffttings equlpment Totsl At 1 S6ptamb6r 2023 Addition8 1823.956 395.732 15.221 292,379 40.262 2,111067 5&483 Al 31 August 2024 1.423,956 410,953 332,641 2.167.550 D•pr•cl•llon At 1 September 2023 Charge for the y 315,986 38,079 234.761 29,750 550.727 67,829 At 31 Augu612024 264511 618,556 N•t book valu• At 31 August 2024 1,421956 50.90B 68,130 1,548,994 131 August 2023 1.421956 79, 766 57,618 1,56t,340 10. Debtorn 2024 2023 Due wlthln on• yur Trade deblors Prepayments 8nd acc￿ed in(Z￿e 751957 162 626,555 40,068 799.119 666.623 11. Current uset investmen18 2023 Cash da￿ts 276.869 270,419 Page 22 THE ST ANDREWS SCHOOL TRUST (A company Umitsd by guarnntsel NOTES TO THe FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. c1￿1t0T*. Amounts falllng duo withln one yonr 2024 2023 26,851 21.049 670.659 Trade creditors otheT creditor5 Ac¢ru81$ and deferred in¢une 46,931 28,307 769,772 843,010 718,559 2024 2023 Doferred IncL#ne 81 I Septemb¢r 2023 Re80ur¢es deferred durlng the yoar Amounts rdeased from previous period$ 621,IXIO 820,500 738,077 621.000 {621,01)0) (620,500) 738,077 621,000 Doferred Inc4xne relotes to sdlwl fees re¢£ivad in advarKa 8ThJ grants. Page 23 THE ST ANDREWS SCHOOL TRusr (Acompany Ilmhod by guarnnts•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Stat•m•nt of fvnds stst•ffl￿t of funds . currnnt y•ar BalanGe at 1 Balance at 31 August 2024 Translors Inlout 2023 Income Expendlture Unmtrlct•d fund• General funds Deslgnaled fund8 1,918.878 1,864,345 11,837,483 133.406) 1,912.332 38,894 318.894 2,198,876 1,864.345 (1,837,483) 5.488 2,231,226 RMtrl¢t•d fund• Pupil Covld-19 CatePtrup funding Teachers Penstons Employer ¢¢yrtrlbutlon GT8nl 11455 21.951 (7,946) 121.972) IS509) 21 10. {10,908) 46.314 (40,826) 15.4881 Tol•l of fvnds 2.198,876 1.910,659 11,878,309) 2,231,226 PU￿1 premlum is fundlng restrtcled f¢x spendng cm puplls as deslgnatod by tlw t)epgrtment fcr Education. The transfer to unrestri¢Xed funds rewesents pupll premium S￿nt on caFXtal items upon there18 no further re8lrictbc￿. The Covi¢>19 up fU￿11[￿j induded in the fees rec8ivatAe from NCC 18 restricted for 8p8nding on th08e put¥l8 ¥**K> require a(trJrtional aca￿1¢ due to Covid.19. The Teathar5 PeT￿on Employer C¢rtrltwb'¢m Grant provldes supkhJt in re5kX)nse to the Illcre￿ In Iho employer ￿￿ributi￿ rate. Deslgnated funds reyewt a bank guarantee of £42,Ir25 In favwr of The s￿etary of Stale for Edu¢8tion towBrds TeatheJs' Penyon$ &￿ib￿ the fKhcrf)I fail to maet its Ilabilityes and 8 £276,869 provision in respect of future 6bff r8structyring (yJsts. Page 24 THE ST ANDREWS SCHOOL TRUST (A company Ilmlt•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Ststsmgnt of funds {contlnu•d) 8tat•m•nt of lunds- ylor y•ar 8818nce 81 I SeM8mb 20Z2 8818n¢e 8t Transfers 31 August 2023 In(X￿ Exp8ndKu Unrn8trlct•d fund• General funds Deslgnated lund8 1,697.085 2￿,1 1,871,353 {1,662,263) 12.701 1,918,876 280.000 1,97T,085 1.871,353 (1,662,263) 12,701 2,198,8T6 R•Atrlct•d fvnd• Pupil premium Covld-19 Cat￿￿ fundlrKJ 14,1 21.589 {5,967) (21.890) {13,002J 301 35.779 {27.85n (12,701J Total ol fund¥ 1,981.864 I.￿7.*32 (1.690. 120) 2,198,876 14. Anatysl¥ of n•t a•Mts bthn•n fvnd¥ Analy81• of n•t ••i•ts between funds- Gumnt pwlod Unmtrlctod funds 2024 Totsl lund• 2024 Tangiblg fixod a$8ets Current assets Creditor5 due w7thin one year 1.548.994 1,546,994 1,525,242 1,525.242 (843,0101 1843,010) T•)tsl 2,231.226 2.231.226 Page 25 THE ST ANDREWS SCHOOL TRUST (A company IlmSted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14. Anatysls of n•t ass4ts b•twe•n funds {contlnu•d) Analysls of ass•ts b•two•n funds- prfor p•rfod Tot81 funds 2023 funds 2023 Tangfible fix¢d assats Cuttent assBts Creditors dug *lthin (Th ye 1,561,340 1,356.095 1718,559) 1.561.340 1, 356,095 (718,559) Tol•l 2. 198,876 2, 198,876 15. RaconcIll￿i0n of n•t mov•m•nt In fund• to n•t ctsh flow opw•Ung •¢tlvltl 2024 2023 Net Inccffie for the perlod (as pgr Sl*ement of Flnancial kbviti081 32,350 217,012 AdJu•tsn•nt• for: Deprneiation charg88 In(¥&88e In debtor8 Increase in cre(litors Bank Inte￿¥1 received 67.829 (132.496) 124.451 16,4521 80,469 (633,927) 45,891 (2,458) N•t ca•h (used Inygen•rth from Oper￿n9 •¢ll¥ftl 85,682 (293,013) 1& of ¢a•h ond ¢uh •qulvaients 2023 Cash in harKI LiquKI investments 449.254 276,869 419,053 270.419 Total ush and cash equlvalents 726.123 689.472 Page 26 THE ST ANDREWS SCHOOL TRUST {A company limltsd by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Analy8lB of changes In n•t debt At31 Augu 2024 C8sh at bank and in hand Llquid Imiestments 419,053 270,419 30,201 449,254 276,881 689,472 36,651 72&123 18. P•n•lon commltments D•fin•d contrlbutlon •ch•m• The charilal￿O company operales B defined c¥)nIrii￿tion pensi￿ 8theme, The 8888ts of th• sc*￿8 are held sepaTalety from Ih08e rf tharitable rxmnpany in an lThJependently admini8lere(I fund, The pen51on cost tharge repre8enls ccrfrtritsjllcffls payable ty the thadtable company to the luNJ and amounlod to £59.52412023 - £S3,131). ContritKrt1t￿S It)tslling £NII12023 -. £Nil} were payablo lo the fund * the balance sheet date arKI are induded In uedltor& Teach•rA' P•n•l¢)n Sch•me The T¢8￿r¥. Penslon Stheme (TPS)18 a stsluW, ¢ontrl1xrt￿y, defined ben8frt theme. g0veM￿ by the Te8thers' PensiL￿ sth￿e R8gulats"cm 2014. Memter8hip 18 autornatsc for full-time leothars 8nd. fr￿ 1 January 2007, aulomatic fLY teacher¥ in part.time ￿n[A0￿nent follcwng 3PPDintrnent or change of contracl, 8lthough tlw are able to Lwt out. The TPS18 an unfurthd 8theme and membws contritmjle on a b8y as you go, b8SiS. theso L¥Jntribvtions along with those made by employer8 are credited to the Exthequw. Rthrement and other pen4on benèflls are pald by p￿IC ILbnds provid￿ by PadiamenL Page 27 THE ST ANDREWS SCHOOL TRUST (A company limlt•d by guarantse) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2024 18. P•nslon commItm￿ts Icontlnued) Valuatlon of th• Teactws. PoMion Schem The Govemment Actuary using ncymal 8¢tuwial prlrtiples. cfJ)ducts a fornal adu8rial review of the Trs in 8co>)rdanix *ith the Publlc Service Pen¥ions (Valuations 8nd Employor C05t Cap) Dir8cllons 2014 published by HM Treasury every 4 yws. The aim of the review is to spec4fy lh8 level of future contrlbulions. Acluadal 8theme valuations are detwdent on assumptions about the value of future ¢osts, deggn of benefits and many other facloys. Tha lats* actuarial Valua￿on of the TPS was carried out as at 31 March 2020. The valuation rep￿ vfds PUt4iknJ by the Department for Education cv) 26 October 2023. Tha key o￿ants of the valu8tlon 8nd subsequont U)n￿lt9￿.0n ar•: emrdoyer wntribLrtlon rates set at 2868% of penslonablo pay Ilndudlng a 0.08% administration 18vyI. Th18 is an Increase of 5% in employer (x*rknbuti￿S 8nd the ￿51 (nntrd result is such that no charff4e in member beneflts is n¢&J&J: and total 8them8 lieblllties (pensions in payment and th8 8Stimgt8d COBt of ftstur8 b8n8fi18) for 8ervlce to the effe(*lve date of £262.CK)O mllilcm and nolional a88ets le8llmat8d future rj)ntribuknc￿S together the notlonal investrnents hdd at the valuation dale) of £222,21XI mlllion, giving a notion81 past Servi￿ d8fiGit of £39,800 mllllen The re¥ull ol this valu8kn was ImFAemefrted frwn 1 ￿ri12024. The naxl Valuati￿ re¥uti Is dug lo be Implem¢fitsd from l Aryil 2028. The employefs penslffl ry)st6 paid to TPS in the yew amrnmted to £120,20912023- £101,572). A copy of Ibe valuallon report SUFwting d0￿Mentati￿[S the Teachers, Penslon webslts. Under the definititys sot out In FRS 102. the TPS is an unfunded multi-emptyer 8themo. Th8 charitsble company h8S OCCQUllted for c