REGISTERED COMPANY NUMBER: 07527381 (England and Wales) REGISTERED CHARITY NUMBER: 1142582
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
FOR
THE EMSCOTE SCHOOL
HB&O Ltd Chartered Accountants and Statutory Auditor Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
THE EMSCOTE SCHOOL
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 August 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 5 |
| Report of the Independent Auditors | 6 | to | 8 |
| Statement of Financial Activities | 9 | ||
| Balance Sheet | 10 | ||
| Notes to the Financial Statements | 11 | to | 20 |
THE EMSCOTE SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 August 2024
TRUSTEES
TRUSTEES Mr William Holland Chairman Mr Richard Hardy Director Mr Sajid Zaidi Trustee Ms Kuljit Minhas Trustee REGISTERED OFFICE Nelsons Lane Nelsons Lane Industrial Estate Warwick Warwickshire CV34 5JB REGISTERED COMPANY 07527381 (England and Wales) NUMBER REGISTERED CHARITY 1142582 NUMBER AUDITORS HB&O Ltd Chartered Accountants and Statutory Auditor Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT BANKERS Unity Trust Bank PLC 4 Brindley Place Birmingham B12 JB SOLICITORS Band Hatton Button LLP 25 Warwick Road Coventry CV1 2EZ
Page 1
THE EMSCOTE SCHOOL
REPORT OF THE TRUSTEES for the year ended 31 August 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
The Emscote School is an educational establishment for students, aged 11 to 16 years providing a safe environment focusing primarily on emotional wellbeing and providing them with pastoral care and education.
The Emscote School is an OFSTED registered non-fee paying independent school for young people which enables them to achieve an education and to participate in society as mature and responsible individuals.
Education and Alignment of Financial and Academic Years
Our education programmes take place during school hours and in term time. There are three terms per academic year.
The school's education represents all the charitable activities.
The Emscote School has been able to remain focussed by delivering, what commissioners require and most importantly that relate directly to the needs of the young people referred.
The Emscote School continues to achieve considerable success in working with young people whose journey through school has become difficult and/or impossible.
The Emscote School education provision continues to offer programmes for those young people who struggle with mainstream education.
Young people are referred for individual, group or online work via behaviour partnerships, allied professionals and schools.
Public benefit
The Council referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In the following pages this report demonstrates the public benefit of our work and how we have worked towards The Emscote School strategic aims.
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THE EMSCOTE SCHOOL
REPORT OF THE TRUSTEES for the year ended 31 August 2024
STRATEGIC REPORT Achievement and performance Alternative Education Programmes
This provision is for secondary students who are:
(a) At risk of exclusion
-
(b) Have been permanently excluded
-
(c) In need of support for access to education
Working closely with partners, commissioners and schools The Emscote School provides educational support packages for each young person towards:
(a) Achievement
(b) Improved self-esteem
(c) Improved awareness and
(d) Improved motivation
Organised sessions also identify issues with behaviour and anger management and allow young people to develop skills and strategies to control themselves in situations where they may previously have struggled.
Our aim is to provide an ambitious and high quality education that is designed to give all students the knowledge and cultural capital that they need to succeed in life. A curriculum that brings out the very best in them and enables them to overcome the challenges that exist in their lives.
Our curriculum is designed to provide students with the core knowledge, skills and understanding that they need for success in education and later life; to maximise their cognitive development; to develop the whole person and their talents to ensure that they become active and economically self-sufficient citizens. By drawing on all of the resources available to us we anticipate that our curriculum enables students to appreciate and participate in the full richness of the human experience.
Where appropriate, young people progress onto vocational courses at college.
Online learning provides educational opportunities.
Curriculum offer
Some students will attend full time, whilst others will be part time. Full timers will be taught a curriculum that covers all of the required areas of learning and National Curriculum requirements. Provision will be fully rounded. Part timers will cover the Curriculum agreed with the individual's host school. Attention will be paid to ensure that students' education meets Government requirements, in order that students' education is not narrowed or compromised. If an individual from a host school is following a programme of study that is not normally taught at Emscote, every effort will be made to provide the subject to provide continuity of learning. Our aim is to adjust provision to meet individuals' needs. Mathematics and English will be an integral part of the education provided for part timers, along with personal, social and emotional education.
In addition to GCSEs the school will provide year 11 students access to a functional skills programme. Emscote School believes that functional skills are important to educational and personal development for learners because they are:
(a) Essential for individuals to function in everyday life, work, leisure and education.
(b) Necessary in developing a commitment to lifelong learning to enhance the lives of individuals, improve employability and to create the skills that our economy and employers need.
(c) Help towards meeting the Government's drive for improvements in the Maths and English skills of all students.
The Emscote School recognises that linguistic and cultural diversity enrich our school and that a student's achievement is linked to a welcoming environment in which they feel valued and confident. Building on each student's knowledge and understanding of other cultures and languages will support English as an Additional Language (EAL) learners in becoming confident speakers, readers and writers of English in all areas of the Curriculum.
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THE EMSCOTE SCHOOL
REPORT OF THE TRUSTEES for the year ended 31 August 2024
Managing Behaviour
The Emscote School has evidence that there is a clear focus on addressing behavioural, social and emotional needs in preparation for returning to school. At the start of the day students are greeted with tea and toast and an opportunity to chat about any issues before they commence their learning programmes.
On a daily basis, as part of the programme, young people attending are able to talk through problems with staff throughout the day and obtain support for issues such as low self-esteem and anger management.
Financial review
Reserves policy
The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should equal one years' expenditure. This is to ensure that the charity has sufficient working capital to support committed alternative education programmes for a year. Budgeted annual expenditure is £410,000, therefore the target level of general reserves is £410,000. The present level of reserves available to the charity of £932,980 (2023 - £650,334) therefore meets this target.
Details of the financial position of the charity are set out in the attached financial statements. Income for the year totalled £1,342,457 (2023 - £899,858) and expenditure totalled £1,077,699 (2023 - £744,655). Gains on investments totalled £17,888 (2023 - £nil) thus net incoming resources totalled £282,646 (2023 - £155,203).
Unrestricted reserves at the year end amounted to £932,980 (2023 - £650,334) and these comprised general reserves of £903,716 (2023 - £640,536) and a designated fixed asset fund of £29,264 (2023 - £9,798). Restricted reserves amounted to £nil (2023 - £nil) at the year end.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure, governance and management
The charity is a charitable company limited by guarantee, as defined by the Companies Act 2006, incorporated on 11 February 2011 and registered as a charity on 24 June 2011. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up the trustees are required to contribute an amount not exceeding £10.
The 'Board of Trustees' comprises the directors of the company. A list of those who served in these capacities during the period is set out on page 1. The trustees meet on a regular basis and are responsible for the strategic direction and policy of the charity. The board consists of four trustees from a variety of professional backgrounds relevant to the work of the charity. The 'Board of Trustees' give their time voluntarily and have received no benefits from the charity.
The overall day-to-day management of the charity is carried out by the Principal who is directly responsible to the trustees. The Principal is responsible for ensuring that the charity delivers the services specified and that the performance indicators are met.
New trustees are elected by the 'Board of Trustees'. New trustees are inducted during their first trustees' meeting. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Risk management
Internal risks are minimised by the implementation of internal control procedures for authorisation of transactions and projects. Procedures are in place to ensure compliance with Child Protection and Health and Safety policies and procedures. These procedures are reviewed periodically to ensure they still meet the needs of the charity.
External audits of the charity's polices and procedures, with particular regard to Child Protection, are undertaken by representatives of the commissioning agencies, schools and local authorities.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Emscote School 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 Accepted Accounting Practice).
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THE EMSCOTE SCHOOL
REPORT OF THE TRUSTEES for the year ended 31 August 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, 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;
-
state whether applicable accounting standards 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 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 of the 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 information and to establish that the auditors are aware of that information.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
........................................................................ Mr William Holland - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE EMSCOTE SCHOOL
Opinion
We have audited the financial statements of The Emscote School (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of 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 Standards (United Kingdom Generally Accepted 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 August 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.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (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 of 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 going concern
In auditing the financial statements, we have concluded that the trustees' 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 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 twelve months from when the financial 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 information
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 Independent Auditors 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. 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 misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Other Matter
The financial statements for the year ended 31 August 2023 were not audited. In forming our opinion, we have considered the comparative figures and disclosures and our opinion is not qualified in this respect.
Matters on which we are required to report by exception
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:
-
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
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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.
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE EMSCOTE SCHOOL
Responsibilities of trustees
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 satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company'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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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 users taken on the basis of these financial statements.
The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business.
Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.
As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities 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 statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE EMSCOTE SCHOOL
Use 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 so that we might state to the charitable company's trustees those matters we are required to state 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.
for and on behalf of HB&O Ltd Chartered Accountants and Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
Date: .............................................
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THE EMSCOTE SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 August 2024
| Notes INCOME AND ENDOWMENTS FROM Charitable activities 4 Provision of advice, assistance and programmes Investment income 3 Other income Total EXPENDITURE ON Raising funds 5 Charitable activities 6 Provision of advice, assistance and programmes Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 1,330,983 11,369 105 1,342,457 730 1,072,952 4,017 1,077,699 17,888 282,646 650,334 932,980 |
Restricted funds £ - - - - - - - - - - - - |
2024 Total funds £ 1,330,983 11,369 105 1,342,457 730 1,072,952 4,017 1,077,699 17,888 282,646 650,334 932,980 |
2023 Total funds £ 888,511 7,147 4,200 |
|---|---|---|---|---|
| 899,858 | ||||
| 8,480 732,158 4,017 |
||||
| 744,655 | ||||
| - | ||||
| 155,203 495,131 |
||||
| 650,334 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 9
THE EMSCOTE SCHOOL
BALANCE SHEET 31 August 2024
| Notes FIXED ASSETS Tangible assets 14 Investments 15 CURRENT ASSETS Debtors 16 Cash at bank CREDITORS Amounts falling due within one year 17 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 20 Unrestricted funds TOTAL FUNDS |
2024 £ 29,265 267,888 297,153 51,516 602,905 654,421 (18,594) 635,827 932,980 932,980 932,980 932,980 |
2023 £ 9,797 - 9,797 42,273 640,162 682,435 (41,898) 640,537 650,334 650,334 650,334 650,334 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 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
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) 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 under the requirements of Section 145 of the Charities Act 2011.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
Mr William Holland - Trustee
The notes form part of these financial statements
Page 10
THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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 with 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 Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The principal accounting policies adopted in the preparation of the financial statements are set out below.
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
-
the requirements of Section 7 Statement of Cash Flows;
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the requirement of paragraph 3.17(d);
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the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
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the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.
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.
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 obligation 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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support and governance costs
Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Governance costs are those incurred in connection with governance of the charity and its assets and compliance with constitutional and statutory requirements.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Pods | - Straight line over 10 years |
|---|---|
| Leasehold improvements | - Straight line over 10 years |
| Equipment in Pods and storage | - 33.3% on reducing balance |
| Office equipment | - Straight line over 3 years |
Fixed assets are stated at cost less accumulated depreciation. The cost of minor additions or those costing below £500 are not capitalised.
Fixed assets previously under the ownership of the Warwickshire County Council were transferred to the charity during the period ended 31 March 2012. The assets were valued in accordance with the insurance policy.
Taxation
The charity is exempt from corporation tax on its charitable activities.
continued...
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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.
Financial instruments
Debtors and creditors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.
Operating leases
Rentals applicable to operating leases are charged to the statement of financial activities over the period in which the cost is incurred.
Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction costs and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Net gains on investments' in the Statement of Financial Activities.
2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Preparation of the financial statements requires the Trustees to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been made include:
Tangible fixed assets
Depreciation charges are provided on fixed assets based on the estimated useful economic life of those assets. This is based on the Trustees' knowledge of the business, assets and prior experience.
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 11,369 | 7,147 |
continued...
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
| 4. INCOME FROM CHARITABLE ACTIVITIES Activity Provision of advice, assistance and Programme activity programmes 5. RAISING FUNDS Other trading activities Bad debts 6. CHARITABLE ACTIVITIES COSTS Direct Costs (see note 7) £ Provision of advice, assistance and programmes 1,003,148 7. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Rent and rates Insurance Postage, stationery and telephone Travelling Sundry expenditure Repairs and renewals Refreshments for Young People Cleaning Training projects IT consumables Subscriptions Charitable donations Consulting Motor vehicle expenses Depreciation |
2024 £ 1,330,983 2024 £ 730 Support costs (see note 8) £ 69,804 2024 £ 620,553 31,665 11,279 50,258 1,120 24,611 184,616 13,408 16,574 29,887 9,911 258 50 2,160 308 6,490 1,003,148 |
2023 £ 888,511 2023 £ 8,480 Totals £ 1,072,952 2023 £ 349,795 20,297 (522) 37,456 3,857 31,359 36,264 9,097 11,755 62,493 3,294 799 340 540 414 3,677 570,915 |
|---|---|---|
continued...
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
8. SUPPORT COSTS
| 8. | SUPPORT COSTS | ||
|---|---|---|---|
| Governance | |||
| costs | |||
| £ | |||
| Provision of advice, assistance and | |||
| programmes | 69,804 | ||
| 9. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation - owned assets | 6,490 | 3,678 | |
| Other operating leases | 4,017 | 4,017 | |
| 10. | AUDITORS' REMUNERATION | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the charity's auditors and their associates for the audit of the | |||
| charity's financial statements | 6,250 | - | |
| Independent examination services | - | 4,410 |
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
During the period no trustees were reimbursed expenses.
12. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2024 £ 581,964 31,254 7,335 620,553 |
2023 £ 331,852 14,357 3,586 |
|---|---|---|
| 349,795 |
continued...
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
12. STAFF COSTS - continued
The average monthly number of employees during the year was as follows:
| School Principal Deputy head Behaviour lead Attendance officer Intervention lead Behaviour support Teachers Higher level teaching assistants Caretaker |
2024 1 1 1 1 1 1 6 12 1 25 |
2023 1 - - - - 1 1 12 - |
|---|---|---|
| 15 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2024 | 2023 | ||
|---|---|---|---|
| £60,001 | - £70,000 | 1 | 1 |
The total amount paid to key management personnel during the year was £66,082 (2023 - £65,823). In addition to the above staff, The Emscote School funding supports a further 3 zero-hour sessional activity staff who are available and deliver projects across the county as and when required.
| 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Charitable activities Provision of advice, assistance and programmes 888,511 Investment income 7,147 Other income 4,200 Total 899,858 EXPENDITURE ON Raising funds 8,480 Charitable activities Provision of advice, assistance and programmes 732,158 Other 4,017 Total 744,655 NET INCOME 155,203 |
Restricted funds £ - - - - - - - - - |
Total funds £ 888,511 7,147 4,200 |
|---|---|---|
| 899,858 | ||
| 8,480 732,158 4,017 |
||
| 744,655 | ||
| 155,203 |
Page 15
continued...
THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
| 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ RECONCILIATION OF FUNDS Total funds brought forward 495,131 - TOTAL FUNDS CARRIED FORWARD 650,334 - 14. TANGIBLE FIXED ASSETS Equipment in Pods Leasehold and Office Pods improvements storage equipment £ £ £ £ COST At 1 September 2023 10,674 1,951 2,401 28,288 Additions - - 12,578 13,380 At 31 August 2024 10,674 1,951 14,979 41,668 DEPRECIATION At 1 September 2023 10,674 1,951 2,359 18,533 Charge for year - - 391 6,099 At 31 August 2024 10,674 1,951 2,750 24,632 NET BOOK VALUE At 31 August 2024 - - 12,229 17,036 At 31 August 2023 - - 42 9,755 |
Total funds £ 495,131 |
|---|---|
| 650,334 | |
| Totals £ 43,314 25,958 69,272 33,517 6,490 40,007 29,265 9,797 |
15. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| Additions | 250,000 |
| Revaluations | 17,888 |
| At 31 August 2024 | 267,888 |
| NET BOOK VALUE | |
| At 31 August 2024 | 267,888 |
| At 31 August 2023 | - |
There were no investment assets outside the UK.
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
15. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31 August 2024 is represented by:
| Valuation in 2024 Cost 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Staff loans Prepayments All debtors are financial assets that are measured at amortised cost. 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Net wages Social security and other taxes Other creditors Accrued expenses |
Listed investments £ 17,888 250,000 267,888 2024 2023 £ £ 39,161 35,499 5,814 - 336 336 6,205 6,438 51,516 42,273 2024 2023 £ £ 1,189 29,684 - (3,604) 7,721 7,050 4,454 1,615 5,230 7,153 18,594 41,898 |
|---|---|
All creditors are financial liabilities measured at amortised cost.
18. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
2024 £ 2,678 - 2,678 |
2023 £ 4,017 2,678 |
|---|---|---|
| 6,695 |
continued...
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed assets Investments Current assets Current liabilities MOVEMENT IN FUNDS Unrestricted funds General fund Designated fixed asset fund TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Designated fixed asset fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated fixed asset fund TOTAL FUNDS |
Unrestricted funds £ 29,265 267,888 654,421 (18,594) 932,980 At 1.9.23 £ 640,536 9,798 650,334 650,334 as follows: Incoming resources £ 1,342,458 (1) 1,342,457 1,342,457 At 1.9.22 £ 490,183 4,948 495,131 495,131 |
Restricted funds £ - - - - - Net movement in funds £ 289,137 (6,491) 282,646 282,646 Resources expended £ (1,071,209 ) (6,490) (1,077,699 ) (1,077,699 ) Net movement in funds £ 158,880 (3,677) 155,203 155,203 |
2024 Total funds £ 29,265 267,888 654,421 (18,594) 932,980 Transfers between funds £ (25,957) 25,957 - - Gains and losses £ 17,888 - 17,888 17,888 Transfers between funds £ (8,527) 8,527 - - |
2023 Total funds £ 9,797 - 682,435 (41,898) 650,334 At 31.8.24 £ 903,716 29,264 932,980 932,980 Movement in funds £ 289,137 (6,491) 282,646 282,646 At 31.8.23 £ 640,536 9,798 650,334 650,334 |
|
|---|---|---|---|---|---|
20. MOVEMENT IN FUNDS
continued...
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
20. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated fixed asset fund TOTAL FUNDS |
Incoming resources £ 899,858 - 899,858 899,858 |
Resources Movement expended in funds £ £ (740,978) 158,880 (3,677) (3,677) (744,655) 155,203 (744,655) 155,203 |
Resources Movement expended in funds £ £ (740,978) 158,880 (3,677) (3,677) (744,655) 155,203 (744,655) 155,203 |
|---|---|---|---|
| 155,203 | |||
| 155,203 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated fixed asset fund TOTAL FUNDS |
At 1.9.22 £ 490,183 4,948 495,131 495,131 |
Net movement in funds £ 448,017 (10,168) 437,849 437,849 |
Transfers between funds £ (34,484) 34,484 - - |
At 31.8.24 £ 903,716 29,264 |
|---|---|---|---|---|
| 932,980 | ||||
| 932,980 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated fixed asset fund TOTAL FUNDS |
Incoming resources £ 2,242,316 (1) 2,242,315 2,242,315 |
Resources expended £ (1,812,187 ) (10,167) (1,822,354 ) (1,822,354 ) |
Gains and losses £ 17,888 - 17,888 17,888 |
Movement in funds £ 448,017 (10,168) |
|---|---|---|---|---|
| 437,849 | ||||
| 437,849 |
The general fund is available for use at the discretion of trustees in furtherance of the general objectives of the charity.
The designated fixed asset fund represents the acquisition of fixed assets and the depreciation charged thereon.
continued...
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THE EMSCOTE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024
21. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2024 or the year ended 31 August 2023.
22. PENSION COMMITMENTS
The company operates a defined contribution pension scheme whose assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £7,335 (2023 - £3,586). At the year end there was a balance outstanding amounting to £950 (2023 - £666).
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