REGISTERED COMPANY NUMBER: 07116724 (England and Wales) REGISTERED CHARITY NUMBER: 1135483 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY 2024 FOR NORTHLEIGH HOUSE SCHOOL LTD
NORTHLEIGH HOUSE SCHOOL LTD CONTENTS for the year ended 31 Juty 2024 Charity Reference and Administrative Details Report of the Trustees Statement of Trustees, Responsibilities Report of the Independent Auditors Statement of Financial Activities 10 Balance Sheet Cash Flow Ststement 13 Notes to the Financial Statements 14-22
NORTHLEIGH HOUSE SCHOOL LTD REFERENCE AND ADMINISTRATIVE DETAILS Company Registered Number: Registered Charlty Number: Reglstered Office Address: 07116724 (England and Wales) 1135483 Northleigh House School Five Ways Road Hatton Iwlarwickshire CV35 7HZ Trustees: Mrs V M Morgan Mr R Kent MrA R Edwards (resigned 15 October 2023) Dr P N Taysum Mrs J P Whitehouse Mr l Burton (resigned 6 November 2023) Audltors: Dafferns LLP One EaSoOd Harry Weston Road Binley Business Park Coventry CV3 2UB Bankers: Co-operative Bank POBox250 Delf House Southway Skelmersdale INN8 6vvr Solicltors: Shakespeare Martineau Waterfront House 35 Station Street Nottingham NG2 3DQ
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 OBJECTIVES AND ACTIVITIES Slgnificant Acllvilies The school passed its 11th anniversary in 2023 and in those years more than 100 young people have moved on into higher education or employment and this year has seen continued healthy progress in the school as more students have successfully moved on. In the year under review the school has operated at the same level as last year with 34 pupils. In the annual exams 27 students sat a variety of papers at different levels (GCSEIFunctional Skills). 9 students sat 21 GCSES with only 3 papers marked below a grade 4. The average GCSE grade was 5, with 9 of the passes graded at 6 or 8. 1 student sat an AS level with a pass mark of B. In addition, 21 students sat a range of qualifications including Functional Skills in English, Maths and ICT, Technical Performing Arts and Animal Care courses. These qualifications are offered by Pearson, OCR, Asdan or Cambridge Technical exam boards with just 3 fails from 81 papers taken. INe have 9 leavers this year who are going on to challenges with six students going to various colleges to study a range of subjects and 3 students starting in the world ofwork. The school carefully assesses each student before entering them in appropriate exams depending on their ability and temperament. As well as providing academic teaching the school continues to provide very Important extracurricular activities aimed at broadening the students, experience and helping to boost their self-confidence, while adding to their educational learning. 1 student attended the RSC Associated School Young Leaders workshop and enjoyed theatre tour. 4 pupils attended a staging of Romeo and Juliet atthe Belgrade Theatre. There were photography and arts trips to The V& A museum, Compton Vemey and the Pump Rooms at Leamington Spa. Life skills are the subject of supermarket shopping trips, weekly work experience at a local National Trust property and trips to Hatton Country Vvorld as well as all-school trips to a local water park. All these pupils joined the school at a time in their lives when such progress would have been hard to predict. Many pupils keep in touch and are all doing well on their chosen life path. Publlc Benefit We are committed to the continued professional development of our staff and the constant expansion of our teaching resources in line with current thinking and research. This is essential in order to support our main airn ot raising our students, selfesteem, assisting them to regain confidence and working with them to develop anxiety minimising strategies. The staff are kind, skilled and dedicated and after just a few weeks at Northleigh, the students begin to show improvement and are given help to enable them to address their high levels of anxiety that are caused by the difficulties they have experienced in mainstream school. If problems are not addressed at this stage., students may go on to mental health care or even prison. Vthen children are not at school, they become frustrated and bored and problems soon arise. Local authority funding is applied for but can take six to eight months to be put in place. It is during this time that they are most vulnerable and often self-harm or attempt suicide in order to escape what some see as a useless life with no prospects of improvement. The school attempts to get suitable children into the school as soon as possible to ameliorate this problem. In setting our objectives and planning our activities our Trustees have paid attention to the Charity Commission's public benefit guidance.
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 JULY 2024 Volunteers and Fundraising The school is very grateful to the Volunteers who give freely of their time in providing working partles to help with the fabric of the school or to raise funds. Our thanks go to National Grid who have supported the school for some years now, British Energy Aviva and JaguarLandRover amongst others who have done very valuable work around the school and garden. John Lewis continued to provide help, donating an Easter egg for our raffle and furniture for the Wellbeing Centre was donated by Claude Hooper. Corelogic Claude embarked on a major project by sendlng teams of volunteerswith all the materials in the summer holidays to paintthe outside of the school and they did an excellent job. Lorna Perkins continues to generate welcome funding from a variety of sources including Tesco, Waitrose, Honily Church, Kings High School, who put on a Charity concert for the school, as well as a number of donations from individuals. The Trustees, staff and pupils thank these individuals and businesses for the wonderful work they do which is of such benefit to the school. Imiilst the Charity does receive some donations, as noted above, these are considered to be on a small scale and do not form part of the Charity's principal activities. The Charity neither participates in publicly marketed fundraising events nor in the active soliciting of donations from members of the general public. Accordingly, the Charity is not registered with the Fundraising Regulator, although the Trustees will keep the situation under revlew. Investment and Capltal Projects The previously installed ground source heat pump has proven efficient and cost effective. Work was completed on the development and furnishing of the Wellness Centre. FINANCIAL REVIEW The principal source of funding has always been the fees charged to local authorities for each child according to their needs and the Trustees will continue to review the fees charged to ensure the financial stability of the Charitable Company is maintained and that the fees are appropriate to the education provided. As noted above the fundraising activities carried out by so many individuals and corporate sponsors conts.nue to make a valuable contribution to the running of the school. Total income has increased by 140/0 {£221,055) compared to last year mainly due to increases in the fee level per pupil. Total expenditure has increased by 30/0 (£36,083) with staff costs decreasing by 1 Vo (£9,628). The increased income and control of costs has allowed the school to increase the Funds carried forward to next year to increase by 270/0 (£461,832). Cash flow has remained steady, however cash balances have decreased at the year end by 21 % (£409,358). Investment Policy and Objectlves During the year the Charities Aid Foundation introduced the school to an organisation called Flagstone who provide a facility to charities who wish to place surplus funds with financial institutions for various periods of time at set interest rates. The advantages to Northleigh are that we can maximise the interest earned while making the funds more secure by investing with different instituts'ons in sums of £85,000 so that each deposit is covered by the Financial Services Compensation Scheme. Monies are deposited in a variety of accounts for periods beeen one and three months. This has enabled us to increase interest reiVed from £4,264 last year to £38,846 this year.
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE TRUSTEES (Contlnuedl FOR ThE YEAR ENDED 31 JULY 2024 Reserves Policy The Trustees have examined the Charity'5 requirements for resenies in light of the main issues and risks it faces. The board aims to have unrestricted net reserves in hand. The* reserves would be used to cover any unforeseen financial difficulties that might otherwise impact adversely on the organisation's charitable activities. Total funds brought forward from the previous year were already at a healthy level, estsblishing a strong basis to support the work of the Charity in the ensuing year. Total reserves at the year end, all ofwhich are unrestricted, amounted to £2,190,650 (2023: £1,7,28,819). The Trustees are satisfied that income over the year has been at a steady level sufficient to support the activities of the Charity throughout the year and into the following year. As noted above cash reserves at the bank remain at a healthy level. Golng Concern The financial statements have been prepared on a going concern basis as the Trustees believe that no material UnrtaIntieS exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. Prlnclpal Rlsks and Uncertainties The Charity facesvarious risks: including financial, reputational and compliance risks. It has a variety of policies and procedures in pla to manage these risks and regular Trustee oversight to ensure the Charty minimises the impact of any risks. Future Developments The Charity plans to continue activities outlined above in the forthcoming years, subject to satisfactory funding arrangements. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng Document The Charity Is controlled by its governing document, the Memorandum and Articles ot Association, incorporated 5 January 2010 and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. It is a Company limited by guarantee and therefore has no share capital. Recruitment Appointment and Training of New Trustees New Trustees are invited to join according to their experience and background in order to strengthen the governance of the Charilable Company. New Trustees are required to complete appropriate induction training which covers safeguarding, data privacy and the responsibilities of Trustees as set out by the Charities Commission. Organisational Structure The Charity is run by the Trustees, who formally meet at least termty and who are actively involved in the day to day running of the Charity along with a team of teaching and other staff. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE TRUSTEES (Contlnued) FOR THE YEAR ENDED 31 JULY 2024 Approved by order of the Board of Trustees and signed on its behalf by.. Mrs V M Moryan - Trustee Date..
NORTHLEIGH HOUSE SCHOOL LTD STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2024 The Trustees (who are also the directors of Northleigh House School Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). Company law requires the,Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitsble Company and of the incoming reSoUrS and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing those financial ststements, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware.. there is no relevant audit information of which the Charitable Company's auditors are unaware- and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit inft)rmation and to establish that the auditors are aware of that information.
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE INDEPENDENT AUDITORS FOR THE YEAR ENDED 31 JULY 2024 INe have audited the financial statements of Northleigh House School Ltd (the 'Charitable Company,) for the year ended 31 July 2024 which comprise the Statement ot Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards {United Kingdom Generally ACpted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Charitable Company's affairs as at 31 July 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing {UK) 11SAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit ot the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the Trustees, use of the going conrn basis of accounting in the preparation of the financial statement5 is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to continue as a going concern for a period of at least e1ve months from when the fsnancial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Other Infomiatlon The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the IndependentAudrtors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Ifwe 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 misstatement of this other informats'on, we are required to report that fact. Vle have nothing to report in this regard.
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE INDEPENDENT AUDrroRS (Continued) FOR THE YEAR ENDED 31 JULY 2024 Opinlon on other matters prescrlbed by tho Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomiation given in the Trustees, Report, which includes the Directors Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statement5', and the Directors Report included within the Trustees Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors Report included with the Trustees Report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received; or the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or the Charitable Company has not kept adequate accounting records; or the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit- or the Trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the Directors Report and the requirement to prepare a Strategic Report. Re8ponslbilitle8 of Trustee8 As explained more fully in the Statement of Trustees, Responsibilities, the Trustees (who are also the directors of the Charitable Company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfi'ed that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to traud or error. In preparing the financial statements, the Trustees are resFx)nsible for assessing the Charitable Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operats"ons, or have no realistic alternative but to do so. Audltor responslbilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as 8 whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's 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 detect a material misstatement 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 user5 taken on the basis of Ihese financial statements.
NORTHLEIGH HOUSE SCHOOL LTD REPORT OF THE INDEPENDENT AUDITORS (Continued) FOR THE YEAR ENDED 31 JULY 2024 Irregularities, including fraud, are instances of non-compliance with laws and regulations_ We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud_ The extent to which our procedures are capable af detecting irregularities, including fraud is detailed below.. enquiry of management around actual and potential litigats'on and claims- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations- and performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the norma course of business, and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Council's website at www.frc.or . uklauditorsres onsibilities. This description forms part of our Report of the Independent Auditors. U8e of our report This report is made solely to the Charitable Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken 50 that we might state to the Charitable Company's Trustees those matters we are required to slate to them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company's Trustees as a body, for our audit work, for this report, or for the opinions we have formed. LLI Lucy Hatton FCCA (Senior Statutory Auditor) For and on behalf of Dafferns LLP, Statutory Auditor One EaSoOd Binley Business Park Coventry CV3 2UB 14 January 2025
NORTHLEIGH HOUSE SCHOOL LTD STATEMEMT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31 JULY 2024 2024 Unrestrlcted Fund 2024 Total Funds 2023 Total Funds Notes INCOME AND ENDOWMENTS FROM Voluntary income 60,354 60,354 22,597 Charitable activitles Education services Fund generats'ng activities 1,651,772 1,282 1,651.772 1,282 1,497,505 6.833 Investment income 38,846 38,846 4,264 Total Income 1,752,254 1,752,254 1,531,199 EXPENDITURE ON Charltable actlvitie8 Education services 1,290,422 1,290,422 1,254,339 Total expondlturn 1,290,422 1,290,422 1,254,339 NET MOVEMENT IN FUNDS 461,832 461,832 276,860 RECONCILIATION OF FUNDS Total funds brought forward 16 1,728,819 1,728,819 1,451,959 TOTAL FUNDS CARRIED FORWARD 2,190,651 2,190 651 1728819 The Statement of Financial Activities included all gains and losses recognised in the year. The notes on pages 14 to 22 form part of these financial statements. 10
NORTHLEIGH HOUSE SCHOOL LTD BALANCE SHEET FOR THE YEAR ENDED 31 JULY 2024 2024 Total Funds 2023 Total Funds Notes FIXED ASSETS Tangible assets 13 1,168,069 204.371 CURRENT ASSETS Debtors Cash at bank 14 18 23,062 1,507,601 12,522 1,916,959 1,530,663 1,929,481 CREDrroRS Amounts falling due within one year 15 (508,081) (405,033) NET CURRENT ASSETS 1,022,582 1,524,448 TOTAL ASSETS LESS CURRENT LIABILITIES 2,190,651 1,728,819 NET ASSETS 2,190 651 1728,819 FUNDS Unrestricted funds 16 2,190,651 1,728,819 TOTAL FUNDS 2 190 651 1728,819 11
NORTHLEIGH HOUSE SCHOOL LTD BALANCE SHEET{Continued) FOR THE YEAR ENDED 31 JULY 2024 The Charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The Trustees acknowledge their responsibilities for ensuring that the Charitable Company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006; and preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Charitable Company. These financial statements have been audited underthe requirements of Section 145 of the CharitiesAct 2011. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financlal ststements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by.. (a) (b) Mrs V M Morgan- Trustee Date.. 12
NORTHLEIGH HOUSE SCHOOL LTD CASHFLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2024 2024 2023 Notes Cash flows from opernting actlvltles Cash generated from operations Interest paid 17 681,063 1295) 374,554 (370) Net cash provided by operating activities 580,768 374,184 Cash flows frorn Investlng actlvitios Purchase of tsngible fixed assets Interest received 13 11,028,972) 38,846 (66,720) 4,264 Net cash used in investing activities 990,126 (62,456 Chang8 in cash and cash equivalents in the reporting period 18 (409,358) 311,728 Cash and cash equivalents at the beglnnlng of the rgportlng perlod 18 1916 959 1,605,231 Cash and cash equlvalents at the end of the reportlng perlod 18 1507.601 1,916,959 The notes on pages 14 to 22 form part of these financial statements. 13
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 I. ACCOUNTING POLICIES General information Northleigh House School Limited is a private company (limited by guarantee) incorporated in England and INales, registration 07116724, and also a registered Charity in England and Wales, registration 1135483. The registered Offi is Northleigh House School, Five Ways Road, Hatton, Warwickshire, CV35 7HZ. The principal activities of the Charitsble Company are that of a private school supporting pupils who are not suited to mainstream educational settings. Basis of preparing flnancial stat8ments The financial statements of the Charitable Company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102)'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102> (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation ofthe financial statements are set out below and have remained unchanged from the previous year. The financial staternents are prepared in Brrtish Pound Sterling {£), which is the functional and presentationa currency of the Charity. These financial statements have been rounded to the nearest £. Company status The Charity is a limited by guarantee, with no share capital. The members of the Company are the Trustees named on page 1. Golng Concern The financial statements have been prepared on a going concern basis. The Trustees have cor)sidered the budgets and cashflows and the Trustees are satisfied that the Charity has sufficient available reserves and resources that there is no material uncertainty. The Trustees confirm the going concern basis of preparing the financial statements continues to be appropriate. Income All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance befo entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. Donated facilities and donated professional seNices are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the Charity has control over the item. Fair value is determined on the basis of the value of the gift to the Charity, for example the amount the Charity would be willing to pay in the open market for such facilits'es and servIs. A corresponding amount is recognised in expenditure. 14
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Contlnued) FOR THE YEAR ENDED 31 JULY 2024 No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual Report. Interest income is recognised using the effective interest rate method and is recognised when the Charity's right to receive payment is established. This is normally upon notification of the interest paid or payable by the bank. Government grants arising from the impact of Coronavirus (COVID-19) are recognised in the period in which they become re1Vable. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation 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 obligalion can be measured reliably. Expenditure Is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Ilvhere costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 FinanceAct 2010 and therefore it meets the definition of a Charitable Company for UK corporation tax purposes. As such, it does not have liability to corporation tax in the course of its normal charitable activities. Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful Land and buildings 2% oncost Improvements to property 200A on cost Fixtures and fittings 250 on reducing balance Computer equipment 40 % on reducing balance Tangible fixed assets are capitalised where expenditure exceeds £1,000 and are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the assei capable of operating as intended. Debtors and creditors Debtors and creditors are recognised at transaction price, less any impairment, which is recognised the Statement of Financial Activities. Flnancial instruments The Charity only has financial assets and financial liabilities ofa kind that qualify as basicfinancial instrument5. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Operating leases Rentals paid under operats'ng leases are charged to the Statement of Financial Activities on a 5traight-line basis over the lease term. 15
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2024 Pension costs and other post-retirement benefits The Charitable Company operates a defined contribution pension scheme. Contributions payable to the Charitable Company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Further explanation ofthe nature and purpose of each fund is included in the notes to the financial statements. Crltical accounting judgements and key sources of estimation uncortalnty To be able to prepare financial statements in accordance with FRS 102, the Charity must make certain estimates and judgements that have an impact on the policies and the amount reported in the annual accounts. The estimates and judgements are based on historical eXperIenS and other factors including expectations of future events that are believed to be reasonable at the time such estimates and judgements are made. 2. VOLUNTARY INCOME 2024 2023 Donations and grants Gift aid Govemment grants 60,222 132 18,139 1,458 3,000 60,354 22,597 Grants received, included in the above, are as follows-. 2024 2023 Other grants 3,000 3. FUND GENERATING ACTIVITIES 2024 2023 Fundraising events 1,282 6,833 4. INVESTMENT INCOME 2024 2023 Deposit account interest 38,846 4,264 S. INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Fee income-Activity Educats'on serVIS 1,651,772 1,497,505 16
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2024 6. CHARITABLE ACTIVITIES COSTS Direct costs Support Totals 2023 Education serVIS 1,186,151 104,271 1290,422 1,254,339 7. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Rates, water and utilities Insurance Office costs Advertising Sundries Maintenance Motor and travel costs 919,650 23,979 13,118 67,429 3,766 6,084 39.657 7,398 929.278 2,661 25,176 45,581 768 9,890 38,134 4,672 L 11 Food Garden Therapy Training and recruitment Tuition fees Lesson supplies Rent Subscriptions and memberships Interest payable and similar charges 12,359 12.409 5.757 3,236 19,444 16,305 25,000 10,265 295 14,325 3.305 30,392 2,147 19,173 10,249 26,500 11,725 370 1 186 151 1,174,346 8. SUPPORT COSTS Finance Governance Gosts Total 2024 Total 2023 Education services 65,274 38,997 104,271 79,993 Support costs, included in the above, are as follows: 2024 Education S&rvlces 2023 Education SeDiices Depreciation of tangible fixed assets Loss on sale of tangible fixed assets Auditors. remuneration Accountancy fees Legal fees 65,274 57,074 9.066 6,250 3,902 3,701 7,800 18.039 13.158 104 271 79,993 17
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2024 9. NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)'. 2024 2023 Depreciation - owned assets Deficit on disposal of fixed assets Payments under operating leases Government grants - Covid 65.274 57,074 9,066 1,004 3.000 18,085 10.AUDITORS REMUNERATION The auditor's remuneration amounts to £7,800 (2023: £6,250), and non-audit seNices of £900 (2023: £3,902). 11. TRUSTEES, REMUNERATION AND BENEFITS Mrs V M Morgan received remuneration of £4,500 for the year ended 31 July 2024. No Trust reiVed remuneration for the year ended 31 July 2023. Trustee8' expen8e8 During the year two (2023.. one) Trustees, Mrs V M Morgan and Dr P Taysum respectively, were reimbursed expenses relating to charitable activities totslling £52,602 and £390 (2023.. £50,070 and £nil.). Amounts owed to Mrs V M Morgan at the year end totalled £5,093 (2023: £6,993). 12. STAFF COSTS 2024 2023 Ibkges and salaries Social security costs Other pension costs 835.842 71,388 12,420 838,861 73,964 16,453 929 278 The average monthly number of employees during the year was as follows.. 2024 2023 Teaching and administration staff 33 31 No employees received emoluments in excess of £60,000 in either year. 18
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2024 13. TANGIBLE FIXED ASSETS Freehold Property Improvements to property Fixtures and fittings Computer equlpment Totsls COST At 1 August 2023 Additions 271,466 28,972 6,619 29,637 307,722 1.028,972 1,000,000 At 31 July 2024 1,000,000 300 438 1,336,694 DEPRECIATION At 1 August 2023 Charge for the year 87,148 57,700 3,636 746 12,567 6,828 103,351 65,274 At 31 July 2024 144,848 4,382 19,395 168,625 NET BOOK VALUE At 31 July 2024 1,000 000 1 $5,590 10,242 1168 069 At 31 July 2023 184,318 2,983 17,070 204 371 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 23,062 12,522 23,062 12,522 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 13,070 16,515 13 478,483 24,988 17,351 7,102 355,592 508,081 405,033 Deferred income comprises fee income that have been reiVed in advance of the forthcoming academic year. 2024 2023 Balance as at 1 August 2023 Amount released to income earned from charitable activities Amount deferred in year 347,916 (347.9161 469,783 331,620 (331,620) 347,916 Balance as at 31 July 2024 469,783 347,916 19
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Contlnued) FOR THE YEAR ENDED 31 JULY 2024 16. MOVEMENT IN FUNDS At 1 August 2023 Net movement In funds At 31 Juty 2024 Unrestrfctsd funds General fund 1,728,819 461,832 2,190,651 TOTAL FUNDS 1728,819 461,832 2,190 651 Net movement in funds, included in the above are as ft)Ilows: Incoming r880urces Resources expènded Movement In funds Unrestricted funds General fund 1,752,254 (1,290,422) 461,832 TOTAL FUNDS 1752,254 1,290,422 461,832 Comparatives for movement in funds: At l August 2022 Net movement In fund8 At 31 July 2023 Unrestricted funds Gener81 fund 1,451,959 276,860 1,728,819 TOTAL FUNDS 1,451,959 276,860 1,728,819 Comparative net movement in funds, included in the above are as follows.. Incoming resources Rasourcos expended Movement In funds Unrestricted fund8 General fund 1,531,199 (1,254,339) 276,860 TOTAL FUNDS 1,531,199 1,254,339 276,860 The general fund represents the free funds which is not designated for particular purpose. 20
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2024 17. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period (as per the Statement of Flnancial Activitles 461,832 276,860 Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Interest paid (Increase)Idecrease in debtors Increase in creditors 65,274 57,074 9,C66 (4,264) 370 8,618 26,830 (38,846) 295 (10,540) 103,048 Net cash provlded by operatlons 581.063 374,554 18. ANALYSIS OF CHANGES IN NET DEBT At 1 August 2023 Cash flow At 31 July 2024 N•t ca8h Cash at bank 1916 959 409 358 1507 601 19.ANAYSIS OF NET ASSETS BETWEEN FUNDS CURRENT YEAR Unrestrlcted Funds 2024 Totsl Funds 2024 Tangible fixed assets Current assets Current liabilities 1,168,069 1,530,663 (508,081) 1,168,069 1,530,663 (508,081) Total 2024 2,190 681 2 190 651 PRIOR YEAR U nrestricted Funds 2023 Total Funds 2023 Tangible fixed assets Current assets Current liabilities 204,371 1,929,481 (405,033) 204,371 1,929,481 (408,033) Total 2023 1,728,819 1,728,819 21
NORTHLEIGH HOUSE SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS (Contlnued) FOR THE YEAR ENDED 31 JULY 2024 20. LEASING AGREEMENTS Minimum lease payments under nOn-CanlIable operating leases fall due as follows.. 2024 2023 Within one year BebNeen one and five years After five years 33,122 71,355 6,959 1,004 1,005 111,436 2,009 21. RELATED PARTY DISCLOSURES The Charitable Company paid rent to Mrs V M Morgan and her family during the period amounting to £25,000 (2023 - £26,500). On 3 April 2024, the property of Northleigh House was acquired by the Charity from Mrs V Morgan for consideration of £1,000,000. 22. CONTROLLING PARTY The Charity is ultimately controlled by the Board of Trustees. 23. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES 2023 Unrestricted Fund INCOME AND ENDOWMENTS FROM Voluntary income 22,597 Charftable activltles Education servi3 Fund generating activities 1,497,505 6,833 Investment income 4,264 Total Income 1,531,199 EXPENDITURE ON Charitable activltles Education serlices 1,254,339 Total expenditure 1,254,339 NET MOVEMENT IN FUNDS 276.860 RECONCILIATION OF FUNDS Total funds brought forward 1,451,959 TOTAL FUNDS CARRIED FORWARD 1,728.819