Charlty numbor. 1145565 Company Number. 07847467 I8￿ocK PL4CE SCHCQL IA COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT AND FINANCLAL sfATEMENIS FOR THE YEAR ENDED 31 JULY 2024 IBSTOCK PIACE SCHOOL TRUSTEE8' ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 IBSTOCK PLACE SCHOOL TheTrustees. who are dlrertors under company law and a￿ also know as Governors, present thelr Annual Report for the year ended 31 July 2024 under the Charitiès Act 2011, Includln8 the Directors, and Strate8lc Reports, under the Cornpanies Art 2006, tO8ether with the audited financial statements for the year LEGAL AND ADMINisfRATIVE DEfAIiS Ibstock Place School Ireferred to, as the Sense demands, either as the Charfty, tt* School or a5 IPS) Is a re8i5tered Charlty governed by its Memorandum and Articles of Assoclation. It5 re8lStered nurnber 15 1145565. It Is also Company LIM￿ed by Guarantee re8lstered In England. No. 07847467. Trustees The n8me5 of those who served as Trustees durin8 the year were.. Mr S Martln Ichalrl Mr P Atherton Mr I Corri8an Mlss A Curry Mr M Harrls Mr M lelley Mrs C lenklnson Mr S lovele Mr A Mccurlev Mrs R Plckthèll Mrs N Ralnes Mr R Simm BACTAACA Mr A Simrn5 Mrs O Stowe Head Mr Cl Wotsey MA MEd Bursarlnd coM￿nY Secretsry Mrl Hutchi50n MBA MI8 FCCA Reostered Offl Ib5tock Place school Clarerlce Lane Roehampton London, SW15 SPY www.I Audltors Alliotts LLP 3 london Square. Cro55 Lane5 Gulldford, GUI IUJ Bankers Barclays Bank, Wandsworth Gr￿p PO Box 3847 London, SWII ITR IBSTOCK PLACE SCHOOL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 Le8al Advlsors Russell Cooke Solicitors Pvtney Hill London, 5W15 6AB STRU￿uRE GOVERNANCE AND MANAGEMENT Govemlryq documents The School 15 governed by its Memorandurn of Association and Articles of Assoclatlon whlch came Into being on the demerger of the School Iromlts 8overning charity and its establi5hrnent as a charlty In Its own ri8ht. Go¥ernln8 The Governin8 Body Is self-appolntinB, wlth retirement5 ag￿ed by mutual agreement. New rnernbers of the Governin8 Body are elected on the basis of nomlnations from the Governors and the executive offlcers based on the candidates, professional qualities, experience, personal competence and l¢xal availability. Members of the Governin8 Body attend external trustee trainln8 8nd informotlon course5 designed to keep them informed and updated on current issue5 in the sector and regulatory requlrements. ReCru￿rnent •nd tralnln8 of (knwnors New Govemors are inducted Into the mana8ement of the School, whlch includes Governin6 Body pollry and procedures, by briefln8s or8anised by the Head and Bursar. Where appropriate, new Governors attend spe¢lflc external courses on the role and responslbilities of charity trustees. (kpnlsatlonal manwmerrt The members of the Governin8 Body. as thè charitytrustees, are le8ally respon51ble for the overall management and control of the School. They meet a5 a body at least three time5 a year. The work of irnplementing their policie5 is carried out by commlttee5'. The FinancelGeneral Purposes/Audlt Cornmittee scrutinisès revenue, the bud8eL capital expend¢(ure and staff remuneration. This Committee also supervises and finalises the audited financial statements and annual report for approval by the Governlng 8ody. The Committee is chaired by the Chairman of Flnance ènd General Purposes. The EducationlAcademic Committee wa5 establlshed in Auiumn 2022 to review the academic pollcy ol the School. The Health and Safety Cornmittee meet5 e3eh term and reports to the termly Governors, meetlng and 15 chalred by the Bursar and Clerk to the Governors. The School's policy that all Governors are involved in academic policy continued takln8 place at meetings of the whole Governln8 Body. Risk Mana8ement 15 effected throu8h a detalled Risk Register that Is considered by the Governln8 Body at their Summer meetin8. The day-to4ay running of the School is deleBated to the Head and through him tothe Sen1or ExecutlveTeam (Deputy Heads, Bursar, and Direttor of Strategy & Stsndardsl and then to the Senior Management Team. The Head and the Bursar attend all meetings of the Governin8 Body's Committees. IBSTOCK PLACE SCHOOL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 The remuneration of the Senk)r Management is set by the Remuneration Comrnittee, a sub-committee of the Flnance Comrnittee, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their contribution to the School's success. The remuneration policy is revlewed annually, including reference to comparisoThs with other independent schools to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere. The School aims to recruit. subjett to the p05t and experience, atthe medium polnt wbthin the salary scale, providin8 scope for rewarding excellence. Staff costs are the largest single element of our charitable expenditure and delivery of the School's charltsble vlsion and purpose is prirnarily dependent on the School's Senior Management Tearn. Ernployment polLy The khool is an equal opportunities employer. Full and falr consideratlon is given to job appllcatlons from disabled person5 and due consideration is given to thelr tralnlng and employment need5. Consultation wlth employees, or thelr representatives, has continued at 811 levels with the alm of taking the views of employees into account when decisions are made th8t are Ilkety to affert their interests. Ernployees are mède aware of the flnancl81 and economic perforrnance of the School. Communication wlth employees contlnues throush normal rnana8ement channels in a variety of lorms and also through exceptlonal channels to apprise staff of current Issues. Perlodic brielin85 to members of the School's deflned benefit Penslon Scherne by outslde consultants are arranged. heme of Delegatton The Trustees have overall responsibillty for the mana8ement and adm5nlstratlon. Including financial adrnlnistratlon. of IPS. The Trustees are accountable to extèrnal agencies Includln8 the Charlty Commi55ion, the Dèpartment lor Educatlon, Independent Schools Inspect¢rate and Independent Schools Councll. OBJE￿5 AIMS, OBJEcnvESAND ACttVlTIES Ch•rltable Objects The Charlty's oblects I'Oblect5'1 are the advancement of educatlon for the publlc benefit by.. provldin& conductln6, 8overnln& carrylng on and malntalnlng a school or schools for the education of puplls not older than the age of nlneteen years such educatlon to be guided to the extent consSdered approprlate by the Trustees., and Ibl providin8 facilities for the use of the publlc, includin8 use for.. meetings, lectuies, classes., and other forms of recreation and leisure-tirne occupation, w￿h the object of improvln8 the condltions of life for the local community. The alms oflb5t￿k P* khool It alms to challenge and Inspire its pupils, helplng them develop qualitles which wlll lead to successful and futhlled lives. Essential to the School's succe5S is Its co-educatlonal environmènt, close Ilnk5 Wlth parents and the provision of up-to-date facilities. 18gTOCK PLACE SCHOOL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 Intended Impart Within its charitable Objects. the Sehool'5 intention is to provlde the best education of which it is capable through strong acadernic tuf(lon and by developing broader skills that enable every pupll to realise his or her potential to the full. This Invofves emphasis on the co-curriculum through £￿atIve, sporting, artistic, tearn building and Social skills. This policy builds self-confidence and life skllls in our pupils and inculcates a desire to learn and a willlngness to contribute to the wider community whilst at school and in later lrfe. Wlder alm$ The School'5 aims for the publk benefit are.. to offer all pupils a ran8e of opportunitles so that they can achieve to the best of their ablllty within a framework ol shared values and standards, ènd to value and nurture pupils as IndividuJls. B¢vin8 them 3 sense of thelr own selt-worth and of the value of service to others, thus preparing them for life beyond school. Prfmary obl•ctfves The primary oblectlves of the Sthool to fulfil these aims are.. to provlde a stlmulatlng learnln8 environment in whlch pupi15 can develop thelr academlc potential to the full,. to provide a happy and secure pastoral envlronment in which pup115 can learn to Iwe together and thus foster a sense of cornrnunity, co-education. respect lor one other and good citizenshlp., to provide pupi15 wlth the opportunlty to take advantage of a breadth of co-currlcular actlvlties In order to develop positively all aspects of thelr character., to provide pupils wlth the opportunlty to take decislons based on their own judgment and to comrnunicate those declslon5 appropriately and effectlvely,, to provlde financial support to enable chlldren whose parents are unable to afford the full fees to benefit from an independent educatlon,. to provlde a clear, simple and effe¢tlve management structuce capable of taklng tirnety decislons and allocatlng necessary resources appropriately. and to provide the necessary administrative and loglstlc frarnework to meet the needs of members ol staff and puplls alike. Strategles to athieve the prlmary oblectfves The Governing 8ody cornmlssioned the consultatlon of an Estates Master Plan as part of the process of reviewln8 its strategic objectlves for the nexr io to 15 years. This was deliverèd In Autumn term 2023. Work on Phase l of the master plan has cornrnenced and a pre-appllc8tlon will be submitted in earty 2025. The School is cornmitted to communiiy use of its facilities and their avallability 15 advert15ed on the School website. The swimmin8 pool continues to benefit pupils from rhe School and also those from two local primary schools whose beneht is pro bono. The School does not en8age third partyfiJndra15ers. Prlnclpal acUvSty The School'5 principal actlvity. as specified in the Memorandum of Assocl3tion. is the advancetnent of education and, n this, the School h35. agaln, enjoyed a successful year. The School averaged 1,013 pupils 12023.. 1.0061 and attendance at open days indicates maintained interest in the School. IBSTOCK PIACE SCHOOL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 Public berd Ibstock Place School remains commltted to the aim Df providing public benefit in accordance wlth its founding principles. The Charity Law requlrement lor the School to demonstrate public benefbt forchairtable purposes calls for detailed disclosure5 concernln8 our alms. The School does not benefit from any foundation, but belleves that the awardin8 of bursaries for the needy is measurable means ol providing public benefit. The Governing Body tskes the view that bursaries awarded to those who would not otherwise be able to afford the fees is important, but not to the exclusion of the much wlder beneflt that the School provides within the community. Those pupils who attend IP5 and who reCe￿e flnancial support contribute to the school communty in a variety ol ways, and so the benefit is not purely to these puplls but to the whole School anij, in some cases. to the widef cornrnunity. This year the School awarded bur53Tles and scholarshSps totallln8 £1,072k to 125 pupils, 4.2% of fee income12023.. £769k to 99 pupils, 3.3% of fee income). Within this figure, mean5-tested awards based on a sllding scale according to financial circumstance5 totalllng £868k were awarded to 59 pupils, includin8 25 for full fees12023.. 59 bursaries totallin8 £674k, including 29 forfull lees). The School continues lo reflne It5 means-testin8 by Interviewing parents and discussin8 detalls of their application. The awardin8 of bursaries15 complex with many local schools pursvin8 sirnllar pup115 all of whom are meeting theirs and IPS'5 entrance criterla. The torrpetition for these eli8ible children has a dlrect Impact on the number of bursarles accepted. In addltlon to the provlslon of bursarles, the School has engaged in many other activities that provlde beneflt to the cornrnunlty withln the School's tsblectives. The impact of the partnershlp work during 2023-24 indicates that flve DT rna￿ state schools benelitted from our worl plus a large number of other cc*mmunity partners. It Is estlrnated that over SOO stafF hours were dedlcated to partnership arran8ernent5. AII LVI puplls who contlnue with 3 A Level subjects took part in our Cornrnunlty Outreach programme. Thls involved over 70 puplls, who undertook Week￿ actlvitles for the course of the year. The activities were". As515tlng with the sport5 club ot The Alton Primary School or wirh in-closs reoding projects which oper(Jte ot the sorne school Purtlclpoting in a reoding pr¢oramme run by Mosalc Jew15h Prtrnory School and Sheert Mount Primory school o Actirjg as teachlng os515tJnts ro vis(4011y impt7ired pup115 Qt Llnden Lodge S¢hoL>I ond severely disobled children ot Poddock School o Community gardening ot theAlton Children s Centre Rtsnnlng tspoetry clubfor resident5 (Ft Grosse Woysheltered Housing A new Impact Sotiety has been created to impart similar values at the Vl Outreach programme to S7-S9 pvplls, IncluiJin8 the new Impact Scholar In S7. The 8roup has already vislted Roehampton Llbrary, and sheltered housin8 on Minstead Gardens, as well a5 organising a small charty stall at lunchtlrne to ralse money lor charity Alzheimerf5' UK. One rnember of the School's staff serve5 as schoDI Governors In charge of feachsng and Learnin8 and curriculum, preparation for OFSTED and strateglc appointment of a new headteacher at Holy Trinity Church of England Primary School In lune 2024, for the third year in a row. Year 7 puplls frorn the grammar stream of The Hurlln8ham Acaderny visited the School ftsr a day of currlcular extenslon activitle5 led by members of our teachlng staff. Our 'Hurlin8ham Scholaryhlp. for pupSls frorn THA to join our Sixth Form after GCSES, has continued and 2 exceptional candidates wlll enrol at Ibstock in Septernber 2024 on lull bursarles. The School cor)tinues to be a host site for Rackets Cubed and its Integrated s￿rts, educatlon and nutrition pro8ramme. Once a week, 3 classes from The Alton Primary School come after-school for sports activities, comblned with academic mentoring. Our catering departments provldes a fulsome tea for which there is no charge on each occaslon The School fully subsidies the actNities of Coram Beanstalk at Heathmere Prirnary School, where It places adult reading volunteers, It provided its Library. frèe of charge, over the course of a weekend In May 2024 so that a prDrnOtional film for Coram Beanstalk could be Shot on location. In the Auturnn of 2023, the School ran Its fifth on-site day to a55i5t Sixth Form pupils who 8re prepa￿n6 to apply to university to read Meditine. Sixth Form pupils from a large number of local state schools attended the day, attending workshops on medleal ethics. interview techniques, and how to make the mott of work IBSTOCK PLACE SCHOOL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 experience,. rnany of these sessions were run by elther Ib5tockstaff or medical professionals from our parent bodv Major whole-school donation drives were organised through the year for Rackets Cubed, Gift Tree. and the UN Refu8ee Agency. LVI mu51c scholars performed to long term patients at nearby Queen Mary's Hospital in the Summer terrn. We invited pupils frorn The Alton Primary School, He3thmere Primary and THA for a matlnee showing on the lower senior play Teacheis, Terrible Tales. Refreshments were provided for all 150 guests. Brass Ensemble went into He3thrne￿ Primary School to dellver a Brass assembly to their puplls, to insplre them to corisider takin8 up brass instrument We have stren8thened the link with Holy Trinity. Roehèmpton with Ibstock Choristers sln8ln8 evensong in the church once a month In the Summer Term 2023, we hosted a slngln8 event covering songs from the muslcal Matilda for year 5 pupils from both our partner schools, as well a5 our feeder schools. Pupils from Heathrnere, Sheen Mount Primary, Bames Primary, Alton Primary and Sacred Heart Primary School. The pup115 rehearsed wlth our Dlrector ¢f Musicand other rnembers of the muslc department, followed bya presentation to puplls, parents about Music at Ibstock. Thls culminated In 3 performance foi their Parents Muslc teachers took the Ibstones Ichoir of 8irls In SIO and above) on i carollln8 trip to Duchesne House la care hone for elderW nuns), Heathmere Primary School. and St Mary'5 Convent care home on in December, as well as taking the 8roup back to Duchesne House in March to perforrr a Short Easter-themed concert Our Head of Hockey ha5 set up a new projèct with Spencer Lynx Hockey Club, where year 5 pup115 for 3 primary schools (Alton, Heathmere and Roehampton Church School) receive high quallty hockey coachin6 each week throughout the Autumn and Spring terms. Coachin8 Support is also provlded by some slxth former5. This club Is targeted at chlldren who wouldn't usually have access to such coaching and some of the pup115 have also been attendlng tournaments at the main Spencer Club, whlch confirrns the stron8 pro8re5s bein8 made. This activlty will contlnue next year. rhe Alton School and Heathmere School have accessed our swlmming pool, and The Alton School have also Used our cookery room on a weekly basbs. These vlslts proceed on a pro bono basis. Trainee teachers from the Sth¢ol of Educatlon at the University of Roeharnpton were able to use our swlmming pool for a week so as to develop their abllity to teach 5wlmmlng once they start their career. These students also observed staff delivering PE lor a day a5 well. In February 2024, Ibstock Prep 4 and 5 puplls plus Year 5 and puplls from the Alton School enjoyed a demonstration and talk from the 0￿mpIC fencer and children's author, Elolse Smith. In 2023-24 Ibstock continued to sponsor the Involvement of The Hurlin8ham Academy in the Trinity S¢hoo15 8ook Award pro8Tamme. Ibstock ran its second Inter8enerational Tea Party for residents of local sheltered housing accommodation, h05ted by a 8roup of SIO pupil5. LVI pupils supported a slmllar intergenerational event at Queen Mary's Hospltal In Roehampton, where events were run to entertain the lon8-term patients at the hospital on two different W8rds. Other Lvls ran a fun SPDrt5 day forYe8r S and 6 puplls at Roehampton Church School, allowingtheyounger pupils to develop their skills of team work, sportsmanship, and perseverance. FIPS PDP has rnade its decision to share its annual budget of £6,000 equally between lil Flackets Cubed,1111 Regenerate, liill Shooting Star H05pices and livl Paddock School, £1,5(K).C(l each. FIPS has had another successful year with its Matched Funding Inltiative. Thls project allocates money to promote and support pupil fundralsin& by promising to Match any money raised by pupils up to the value of £500. FIPS MFI allocated £2.930 of its annual budget to a number of different charities Over £l.000 was r3i5ed for Shootlng Star hospice 10 xylophones and other smaller Instruments were donated to Music Master5 charity £30Ck) ol Usborne books were donated to Alton School throu8h readathon challen8e5 and World Book Dav IBSTOCK PtACE SCHOOL TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 STRATEGIC REPORT ACHIEVEMENTSAND PERFORMANCE Examlnath)n Resutts In 2024 A Level and Extended Prolett Qualmcatlon Not least owing to the fact that a Significant portion of thelr secondary education h3d been much-disrupted by the pandemic, the achievements of th15 yearfs Upper Sixth puplls in public examinations wece Impressfve. 16.1% of entries were graded otA' 57% tsf entries were gn7ded otA'.A 82.8% of entries were groded otA'.B Moreover, 78.9% of entrles Into the Extended Project Qualiflcatlon- whlch, unusualty for a school, the vasty malortty of our puplls take-were graded at elther A. or A. These re5uItS 811owed our pupils to proceed to 8n Impresslve range of unlversttSes. including the Unlversity of Oxford, Cambridge. Durham and Edinburgh. Over 90% 01 our applicants moved onlo a universlty of thelr choice, Includin8 overseas InSt￿tUtionS IE, Universlty Madrld. GCSVIIIGCSE Outcomes by our Senlor 11 puplls In thelr IIIGCSE examlnations were Also very lrnpre5slve.' 75% of entries were gruded otg- 7 26.9% of erttrles were gruded ot 9 96.2% of entries were qruded ot9- 5 Old Ibstonlan Awclatlon, ¢(¥nrnonly known 93 StockJ'. Membershlp of our alumnl assoclation now runs to over 625 ex-puplls and staff. In lune 2024. In celebratlon of the School's One Hundred and Thlrtleth annlversary, we were able to host perhaps the largest Special Èvent in the history of Ibstock. Over 2000 people, includln8 a great many former members of our communlty, camè onto campu5 for Ibstock130. Many old acqualntance5 were ￿neWed and we shall sustaln the momenturn going forward. Concurrent wlth thls event, we opened the second phase of our school museum wlthln Main House,. It Is devoted to the history of the Roehampton 51te, both bElore and after the School moved Into ￿. The annual publlcation of *he Stocks Revlew" which dedlcates it5eff to alumnl matters, conrinue5 and, 3$ our Marketin8 Department contlnues to develop, we are planning an overhaul of our approach ro the malntenance of our alumni records and of nneci.c m whlch provide5 an online hub for otsr former puplls. We are also exaThinirig the possibility of creating a Development Office within the next two years and, if thls comes to pa$5, It too will enrich the expeilente of our forrneT pupils. Famllle$ of IPS IFIPSI Our pa￿nts, association, FIPS. did a great deal to blnd our wider cornrnunity tO8ether through 2023-24, holding a wide varlety of events at which parents could corne onto our site to sociallse. Hlghlights Included a major Festive Fair In late November, a wreath-makin8 workshop at Christmas, a special quiz night for parent5 and, at the start of the year, a serie5 of coffee morning5 $0 that new parents could become acquainted with its work. FIPS also made a very substantial contributlon to the organisation and execution of Ibstoek130, a major event which was held on campus onjuneto celebrètethe School'5 I3￿ anniversary Furtherrno￿, FIPS improved our parents. experlenceof the School through the provision of things Ilke regular second-hand uniform sales and catering sÈrvices at Pre-Prep and Prep School sports days. IBSTOCK PLACE SCHOOL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 FIPS also did much work in early 2023-4 to service its commitment to charitable activities through the work of a sub- comrnittee to Co-ordinate its programmes in this sphere. A5 part of thig work. it administered a matched-fundin8 scheme which is designed to encourage our pupil body in charitable activity. The scheme was publi¢ised through a serles of pupil assemblie5 8nd already. it has led to a deepening of the School's relatlonship with several local community 8roups. FIP5 ha5 also generous￿ funded the provision of a full-lees Hurlingham Scholarship. which Is awarded to an incomin8 member of our Sixth Forrn who took thelr GCSES and the Hurlingham Academy In Fulham. FlnarKl•l Revlew Ibstock Place School's net inctsming resources for the year. before any unrealised 8ains and losses, were £3,393.419 12023.. £2,194.2971. A change in actuarial valuatlon of the penslon scheme deficit in the year resulted in a loss of £540.000 in thè year 12023,. £3,011,CKIO gain) and the overall net movement in funds was £2,853,41912023.' £5,205,297). The Sncomlng resources are shown after providing academic scholarships and bursaries ol £1,071,877. Rese￿e$ Level and Pollry and Flnancljl Vlabll Ibstock Place School has reserves of £58,865,229 as at 31 july 2024. Total Restrlcted Funds at 31 july 2024 were £2,867 relatSng to the Bayllss Fund whlch provldes annual awards to puplls. Unrestrlcted fund5 of £58,862,362 are used by the Trustees in accordance with the objects of the Charlty. Governors are concerned by the significant fluctuatlons in the v3lu3tlon of the School's obll8atlon under the local government pension Scheme. the London Penslon Fund Authority. The actuarial valuation performed In JU￿ 2024 and Included in the accounts shows a net penslon asset of £1,705,00012023'. asset. £2,178,000). A £3,110,(K)O reserve wa5 set up to cover the expected future reversal of the gains In actuarlal valuations. Des18nated funds have also been created forfuture planned bullding development of £5,000,000 and a fund lorfuture bursaries of £303,090. Free reserves. representlng unrestricted funds not tied up In fixed assets or designated funds are £5,178,289. Whilst not qvantlfyin8 a fixed target level of free reserve, the policy of the Governln8 8ody Èxpects that all free reserves will be Invested Into the next Sta8es of the development plan for the School estate. A coMprehens￿e flnance report for the School Is presented to each School Governors, meetln8. PRINCIPAL RISKS AND UNCERTAINTIES The Governors consider the economlc turbulence of recent yea￿, Including the hl8h rate of inflation and the affordability of fees by parents acros5 the independent sector to be the princlpal risk faced by the School, combined with an increas1n8￿ difficult labour market, particularly for non-tea¢hlng collea8ues. The Senior School is currently full. but there are some spaces in the Prep School and there 15 no room for complacency. The G(>vernin8 Body take5 pupils numbers and the high cosi of staff accommodation into account when Considering fee incre3ses. Health and Safety Is ab￿ayS a slgnificant area foT risk rranagement. The risks ran8e from fiTe and Infrastructure to personal risks Imtsst notably when pupils are away from the campu5 on trips and Duke of Edinbur8h Èxpeditionsl. The level and breadth of activlty at the School Is Impressive and the risk5 as50Clated wlth all activitles are minimised by thorou8h planning and risk assessments. Detailed consideration of risk is updated in the Risk Register and formally approved by the Governing Body each summer. The risk mana8ernent process and the resultln8 Register identifie5 115ks, assesses their irnpact and likÈlihood arid, where necessary. recommends controls to mitigate and monitor those risks that are assessed as high. The generlc controls used by the School to minimise rlsk Include: detailed terms of reference togetherwith formal agenda5 for Committee and Board activity.. 5trate8ic development plannin6, reviewed annu8lW by the Governing Body.. IBSTOCK PiACE SCHOOL TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 comprehenslve budgetlng and management accounting,. e5tsbllshed or8ani5alional structures and lines of reportlng,. formal written policies includinB clear authorisation and approval levels,. vetting procedures ès required by law for the protection of the vulnerable. The Govemors regularW review the effectlveness of cUr￿nt plans and 5trate8ies for rnana8ln8 all Identifled major rlsks for the School. Greenhouse 8a5 IGHGI Em55sbns and Ener8y Consumpvon The School has a sustainability charter available from the School web51te that sets out Its commitment to SlJ5tsinability and its alms across a range of su5tainabllity tar8ets that include Its energy efficiency and carbon ernlssions, waste efficiency, water and resource use and the use of seasonal menus. The school's aim Is tts reduce its energy consumptlon and become carbon net zero as soon as posslble. We have tsken the year ended 31 july 2024 as the base year from which to measure improvements. but recognising the School h35 made pro8ress In rÈcent years we have Included the data from the year ended 31 July 2023 as a comparator. In recent years the school has Implemented changes and improvernent$ to Its energy efficiency and envlronmentsl practice5 across its campus, IncludlnB: a transStion to full LED lightln8 for over 1,8CQ lights,. planting over 400 saplin85 In the school grounds,. drlllin8 a borehole to create a sUStaln8ble water source and Improve water quallty,. replacln8 a petrol driven tractor wlth an electrlc vehicle,. and beglnnln8 the tr8n5Ition to a paperless workln8 envlronrnent. The School Is currently explorln8 the Installatlon of solar power to lower Its dependence on non-renewable ener8Y sources. The School works to foster awarenéss of sustainablllty In both puplls through educational Initlatlves and In Its Staff. Thls Includes encouraging cyclln8 and sustalnable travel and providing c¢mplirnent3ry shuttle bu5 servlces to reduce car lourneys. We have worked to increase staff awareness of energy u5a8e, waste and envlronmental good practlce. We have decided to use the total number of pupi15 as the intenslty ratio. The resuliing inten51ty ratlo of tC02e pèr number of pupils will best reflect chan8es in our operations and energy consumptlon over tlme. We have used the financlal control approach as the organisatlonal boundary. The methodolo8y we have used Is The GHG Protocol Corporate Accountlng and Reportin8 Standard. We have followed the 2013 UK Government Environmental Reporting Guidellnes (updated March 20191. We have tjsed the most recent 2023 UK Government Conversion Factors for Company Reportin8. The ener8y efflclency narratlve methodology has been created based on energy mana8ernent best practlce. We have measured stope l and 2 ernls5ion5. We have not so far included scope 3 emission5 relatlnB to employee use of their own vehicles, where they clairn mlle88e allowance. This decision was made on the ground5 01 materiality.. very few mlleaBe clalms were made during the year. We will keep the Inclusion of scope 3 emisslons under review for future periods. 202>24 tC02e Type of emlsslon Adlvlty 202¥23 tC02e % of tulal % of total Scope 1 Naturil Ga8 1.274.058 229.33 60.65% 1.7fKI.Ole 3Cfj.01 57.25% Vehlde Fleet 5T,730 14.42 3.81% 54,609 13.64 2.55% Sub-tot41 1,331,788 243.75 14.41% 319.es Scope 2 Elec¢ri¢ty 5B4.319 134,39 35.54% 934.223 214.87 40.20% SuWt•l 584,319 13Q39 36.64% 934,223 214.87 40.2W Tot81 gro89 consumptlons and 1,916,107 37&14 lo￿00% 2,688.878 OM52 1¢)0.OO% io IBSTOCK PLACE SCHOOL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 Metri¢ used.. NL¥nber of Intèn8Ity ratio.. tom88 ofC02È per 1.013 0.37 1.005 srATEmE￿f OF ACCOUNTING AND REPORTING RESPONSI8IUTIES The rnembers of the Governing Body Iwho are also the directors of Ibstock Place Sch¢>ol for the PUTposes of companv liwl are responsible for preparing the Annual Report and the financial statements with applicable law and Unlted Kin8dom Generally Accepted Accountlng Practlce (United Klngdom Accountin8 Standards). Company law requires the Governlng Bodyto p￿pare flnanclalststements for each financial year. Under that law the Governin8 Body have elected to prepare rhe financial statements in accordance with Unked Kingdom Generally Accepled Accounting Practice Iunited Kin8dom Accountln8 Stsndardsl and applicable law. Under company law the Governing 8ody members must not approve thefinancial statements unless they are satlsfied that they give a true and fair view of the State of affalrs of the charltable company and ol the incomlng resourcÈs and application of resources, Including the income and expenditure, of thè charltable company lor that period. In preparlng these flnanclal 5tstements, the Governin8 Body members are requlred to.. • select the most sultable accountlng policies and then apply them c0nslstent￿', observe thé merhods and princlples in the Charities SORP., make judgments and accounting estlmates that are reagonable and prudènt.. state whether applicable UK AccouDtin8 Standards have been followed, subject to any materlal departures tjlsclosed and explained in the flnanclal 5tatements', and prepare the financial statements on the 8oln8 concern basls unless It Is Inapproprlate to presume that the charitable company will contlnue in buslness. The members of the Governing Body are responsible for keeplns adequate accountlng records that are sufficient to show and explaln the charltable companrfs tran5actlons, disclose with reasonable accuracy at any time the financial posltion ol the charitable company and enable them to ensure that the flnanclal statements comply with the Companles Act 2006. They are also responsible for 5afe8uarding thè assets of the charlty and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularlties. R•levant Audlt Informatlon Insofar as each of the Dlrectors. as members of the Governing Body, at the date of approval of this report is aware there is no relevant audit Information Ilnfomiation needed by the School's auditor in connectlon with preparln8 the audit report) of which the School's audltor is unaware. E3ch mernber of the Governing Body has taken all the steps that he or she should have taken a5 a mernber of the Governing Body in order to make himself or herself aware of the relevant audit Information and to establlsh that the School's audltor Is aware of that information. Approved by the Governing Body, including. In their capacity as company directors, approvln8 the Directors, and 5trateglc Reports contaSned therein, and signed on its behalf by.. Stefan Martln Chabr of the Governing Body Date.. £o-11-lotJ li IBSTOCK PLACE SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IBSTOCK PLACE SCHOOL FOR THE YEAR ENDED 31 JULY 2024 Oplnlon We have audited the accounts of Ibstock Place School for the year ended 31 ju￿ 2024 which comprise the statement of financial activlties, the balance sheet. the statement of cash flow5 and the notes to the accounts, including a sumrnary of slgnificant accounting policie5. The financlal reportin8 framework that has been applied In their preparation is appllcable law and United Kingdom Accounting Standards. Including Financial Reporting Standard 102 The Financial Reporting Standard appll¢able in the UK and Republic of Ireland. Iunlted Kin8dom GeneralW Accepted Accounting Practlcel. In our opinion the accounts: 81ve a true and fair view of the st3te ol the charitable company's affair5 as at 31 July 2024 and of its incoming resources and applicatlon of resour¢es, includin8 Its income and expenditure. for the year then ended,. have been properly prepared in 3ccordance with Unlted Kingdom Generally Actepted Accounting Practlce,. have been prepared in accordance wrth the reqU1￿MentS of the Companies Act 2006. 8asls for oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on Auditing IUKI IISAS IUKII and appllcable law. Our respon5ibllities under those Standards are further descrlbed in the'Auditor's responslbilltles forthe audit of the accounts, sectlon of our report. We are Independent of the School in accordance with the ethical requirement5 that are relevant to our audit of the accounts In the UK. Includin8 the FRC'S Ethical Standard, and we have fulfilled our other ethlcal re5ponslbilities In a¢cordance wlth these reouirements. We believe that the audit evldence we have obtained Is suffl¢ient and approprlate to provlde a basis for our opinion. Concluslons relatlng to 8olng concern In auditing the accounts, we have concluded that the Trustee$, use of the 8oln8 concern basls of accounting In the preparation ol the flnanclal staternents Ss approprlate. Based on the work we have perforrned. we have not identlfled any rnaterlal Un￿rtaIntleS relating to events or condltlons that, Indlvldually or collectlvely. may cast significant doubt on the charltable company's abillty to conllnue as a goln8 concern for a perlod of at least twelve months frorn when the accounts are authorlsed for Issue. Our responsibillties and the respon5ibilltles of the Trustees wlth respect to 80in8 concern are described In the relevant secllons of this report. Other Information The other Information cornprises the information Included in the annual report other than the accounts and our audttor's report thereon. The Trustees are responsible for rhe other Information contained wlthin the annual report. Our opinlon on the financial statements does not cover the other information and. except to the extent otherwise expl1c1t￿ stated In our report, we do not express any forrn of assurance conclu51on thereon. Our responsibillty Is to read the other Information and, in doin8 so, consider whether the other informatlon is materially incon515tent with the accounts, or our knowledge obtained in the course of the audit, or othernise appears to be materially mi55tated. If we identSfy such materlal inconsistencies or apparent materlal mlsststernents. we are required to determine whether this 8Nes rise to a material mi55tatement Sn the accounts themselves.11. based on the work we have performed, we conclude that there is a material mi5Statement of this other Information, we are required to report that fact. We have nothing to report In thls regard. Oplnlons on other matters prescribed by the Companles Act 2LKJ6 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, report Including the incorporated strategic report for the financlal year for which the accounts are prepared is consistent with the accounts,. and the Trustees, report including the Incorporated strateglc report has been prepared in accordance wlth applicable legal requirements. 12 IBSTOCK PLACE SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IBSTOCK PLACE SCHOOL FOR THE YEAR ENDED 31 JULY 2024 Matters on whlth we are ￿qUIred to report by exceptlon In the li8ht of the knowledge and understanding of the School and its environment obtained in the course of the audlt, we have not identified material misstatements in the Trustee5' report, includin8 the Incorporated strategic report. We have nothing to report in ￿SpeCt of the following matteTS in relation io which the Companies Att 2006 requires US to report to you il, In Quf opinion.. adequate accounting records have not been kept, or return5 adequate for our audbt have not been received from branches not visited by us,. or the accounts afe not in agreement wlth the accounting records and returns,. or ertaln disclosures of Tru5tees' remunefation spècifled by law are not m3de.' OT we have not received all the information and explanations we require for our audlt. Re5ponslbllltles of Trustees As explalned more fully in the statement of Trustee5' rèsponslbilltles, the Trustees are responsible for the preparation of the accounts and for being sat15fied thai they 8ive a true and fair vlew. and lor such Internal control a5 the Trustees determlne Is necessary to enable the preparation of account5 that are free from material mlsstatement, whether due to fraud or error. In preparlng the accounts, the Trustees are responsible for as5e5sing the School's ablllty to contlnue as a going concern, disclosing. as appllcable, matiers related to going concern and using the goin8 concern basls of 8ccountin8 unless the Tr¢Jstees either intend to Ilquldate the charitable company. or have no realistic alternatlve but to do so. Audltols responslbllltles for the audlt of the accounts Our oblectlves are to obtsln reasonable assurance about whether the accounts as a whose are tree fforn material mi55tatement, whether due to fraud or error, and to issue an audltor's report that Includes our oplnion. Reasonable assurance is a hlgh level ol assurance, but is not a 8uarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when ir exists. Mi5Staternents can arlse from fraud or error and are considered material If. indlvldually or In the aggre8ate, they could reasonably be expected to influence the economlc declsitsns of user5 taken on the basls of these accounts. Irre8ularities, including fraud. are Instances of non-compliance with laws and regulations. We desi8n procedures in line with our responslbilities, outllned above. to detect material misstaternents In respect of irre8ularities, including fraud. The extent to which our procedures are capable of detettlng Irregu13ritie5, including fraud, Is detailed below. Extent to whlch the audlt was consldered capable of detectlng Irregularftles, Includlng fraud Our approach to identlfylng and assessin8 the risks of materlal rni55tatement in respect of irregularities, Includlng fraud and non-cornpliance with La￿ and regulatlons, was as follows.. the en8a8ement partner ensured that the engagement team collectively h3d the appropriate competence, capabilltles and skills to iclentify or recognise non-compllance with applicable laws and regulations., we identified the laws and re8ulation5 appIl￿ble to the School through diKussions with management, and from our commèrcial knowledge and experience ol the sector,. wefocused on specific laws and regulations which we considered may have a dlrect mateflal effecton thefinancial statements or the operatlons of the School. includin8 the Cornpanles Act 2006. the Charities Act 2011, the Charities SORP, taxation leglslatlon, data protection. anti-bribery, employmeni environmental and health and safety legislation,. we a55e55ed the extent of compllance with the laws and regulations Identified above through makin8 enquiries of man38ement and inspecting legal correspondence,. and identified laws and re8ulation5 were communicated within the audit team re8ularly and the team remained alert to instances of non-cornpliance throughout the audit. We assessed the susceptlbility of the School's financial statements to material mi55tatement. includin8 obtaining an under5tsndlng of how fraud rnight occur, by-. 13 IBSTOCK PLACE SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IBSTOCK PLACE SCHOOL FOR THE YEAR ENDED 31 JULY 2024 makin8 enqulries of mana8ement as to where they considered there was su5ceptiblllty to fraud, their knowledge of actual, suspected and alleged fraud.. considering the Internal controls ITr place to mitigate rlsks of fraud and non-cornplian￿ with laws and regulation5, and understanding the deslgn of the School's remuneratlon policies. Audlt response to risks Identlfied To address the risk of fraud through rnanagement bias and overrlde of controls, we.. performed analytlcal procedures to identify any unusual or unexpected Telatlonships., lested journal entries to identify unusual tran5actions,' assessed whetherludgements and assumptions made In determinln8 the accountlng estimatès were Indicatlve of potential bias,. and investigated the ratlonale behlnd 5i8nlficant or unusual transaction5. In response to the rL4k of irregularities and non-compliance with laws and regulètion5, we designed procedures whlch Included, but were not limited to.. agreeSng financlal statement disclosures to underlying supporting documentation,. ènquirln8 ¢f management as to actual and potential litigatlon and clalms., and reviewed le631 expenses for Indlcatlons of non•arn Furniiure and oqulwwl.. 6 to 10 y¢a CompU￿ra.. 3 to Syearn Mo*rVéhkkn.. 3b5 sots In th8 courne ol mtrJ¢bon ¥9 ￿4uded It on b1È59 w86ts ￿ Trjt ¢hary&J unll thgyaR ￿ht Inlo ￿. A fer iffpginnenl ol 8 ftt8d #$et1s cardgd outl18v￿ty or In i￿urnS18n￿ lThlic8ie th•t h ￿rr￿n9 value of any 0sS8t may not t4 rttover8tl•. Shorvth botweenthèuryying valug0ff￿ed as$9ts and th￿rr8￿￿￿k3 amowts aro rwn19thY * ￿p￿￿1$. Imp4km•nl We r8K9nL8od in Ih¢SlathÉntofFlnanCk4Ath*￿O. n Cilh ¢*•h aqu￿•1•1 C95h cash equiwlents incfvJdec8gh In hand, depojfo hdd at eollwth bankg. other5h￿t-1urffi Ih4uld In¥oth•nts wl* oitylrAlm8bJi￿￿ ofllw8B monlh8 LYl#i. and bank ov8rdr8tts. Bmk ovwdratts am shJ4¥nwrfhln borrovJTrJ$ n c￿￿151b11b.S1. 91 Flnknctsl kns¢rum*rt¥ Th8 cornpanyhas d8Cted t¢ atvylhe prO￿kn￿5 olSeGkn 11'Ba*FknvAI IMINmthts' S¢ciknn 12.clhw l¥¥w&' FRS 102to 11 Ellts finon¢iEI iTrblruments, are fwnls8d In the roTp8rrfJ balarK8 $h8gt whBTr th• com￿nY beo)m P8rty to tr* ccffttrthl ol th• irolNm8nt FiTrWci￿ 88s0ts Ik4blth8s ao offsrf thè notamowts w858nted ￿ tho finan¢l81 $thm8nts, whèn tl*re h abJ8llyenforc89tr4e f]ghtto yetoff the ffjttgnised andlherel5￿ intethntos8lNe w a net b88L8 asset￿d s&elh lk8bilty$unUllan2￿5ty. 18 IBSTOCK PLACE SCHOOL NOTES TOTHEACCOUNTS FOR THEYEAR ENDED 31 JULY2024 1. ACCOUNTING poL￿lEs (c£rf￿￿) 91 Fin•hetsl knstnJm*nls I￿￿ti￿l￿dI 8•sk finort1￿¥S￿•ts Ba5¢fIna￿l￿ assfrts, which ￿KI￿d8 d8btors *d rAsh and barJL b8￿nces. Inlblty rneasuied attrsnsacbw PTk8 indudrvJtr8n8•Yion ¢¢¢ts 8nd are $Lts4wnly c8rrW alaM￿ti88d cost usiffj th9 off￿11*1ntfjre8tmethOd unl855 tho arrnry8m8nlconslttrte98 lian38ction, wh￿￿ tha nsxbon w mEasurnd Bt thg ye88nl v￿u• ofthèfubjre re¢dpts d￿cOUn￿j 41 è of int8r8yL aB88ts da88lR8d a5 vrithin me yearaw ￿laMO￿lsed. Bagr fjn8rKwl IthVffjJ"98, Incbjthng cTrthton$ knk 8r8 In￿aNY fecogrd$ed al prico unw8 the affan8￿￿nI cothbJt8s • fkwKing tr￿thn, where the lobt Ins￿rrien1 ki mwuied 81 the pr05ènt vlue of the fLrtw8 rac8iptJ diswJnt8d at a mertd th cl intwest Fina￿1￿ li8￿.1￿e$ as payabh wmlin0￿prare Mlamcfkns8 Debti￿trUments ¥8sub58quantyumed818morb'Jtd ctxt theeffe¢Uv4 intuwl r&kmèthod. Trade cr8dhJr5 we 0￿￿811x￿ to pay knrgood8 01 $W¥iC85 that aCq￿r8d In ￿ orrfin8ry ol op￿a￿￿¥ fnm $upligrs. Amounts i ¥e rthsthed cuffwrt Ik8blUb'85 rf paYM￿tIl dul wthn on8 ytsr or ￿$￿. er8 presenled gs rnTrcuiwt ￿8￿rI0.81. Trade Cr*j￿0[$ ¥8 r￿n￿8d init.￿ty8t tran5aGlThi wceand sub5tou¢ntym8&U1gd81amuts•d￿l u*ng intsiesl mew. Prthi51ffo are r8ccgnoed Wh￿ th6 ¢omp8ny ha5 1 or con$tnKtive pre8enl obl￿at￿n w è 18sutt ol a past 6¥8nl, il k4 p￿ba￿ thut tho mponywlb• reg￿r6d l0•atMethatoNg8bona￿J1 ￿￿tIo￿8￿M8te m8¢0 01th8arrrfJuntofthèok4¥ihW. The 4moLml r8c¢gntyed 88 8 ffi5ion 1$ the bo* •sYmate olthe cOn$￿Jeralknn rnqU￿J to lh• prg5onl ¢blvJalk)n at the refft.ffj end dttl&, t4king inkn xcounitho rw and u￿￿￿ti?￿SU1ffjUndl￿j Ih8oÈ44atlon. Whwe th8 gffKtol ihe bm8 Y￿ul of momy is mthrw, thè amountexp¥t4d to bè teqL¥red to $oth• th8 obl￿11k)n 14 Te¢￿￿￿ed 81 pre￿ v*Jg. When a wi¥on In m￿sured at monl unwknding of th• dtswurt IS w￿¥•d [￿ar￿ coyl In Mt kncomelloxwdllLTrl In th• erw. D•r•coghthn 0117n•Khlll•bWth¥ Flnancb81 ¥8 d8rècoqnwd eentr4dud ob11g8bwaexpn urarèdh¢hwg•d or￿n¢l￿d. h) Employ•• bw4 Tho(￿l0[anY un￿￿1 bc1￿8Y ￿￿￿￿mIntts r8ccgnh•d In bknpodod Inwhbth ￿ emFloye8'9 ythices ai8 r￿4￿• TerrriThion b￿oflt9 rwnood as an èxpaw when tho Mmynyl8 L*AN￿$t1•￿Y eornmthd to le￿1Th￿ iha of •n pbyeeoits FYovkl8 tOmin￿￿n b8nefits. b) Fyndi Umtrthd fu￿$ rAo th￿Wh￿h ¢8n bo u••d 4tthe Tr￿18?9, di5crthin. Rqsirithd fur￿1 we Ihoso fvrth been ￿trtC by the doNr or thè Im of an ipp . Whwe t*ll￿j lunds 8rfr fc¢ CW Iho funds are trAnsleN•d io unr6#trkled wh•n ullknd. 0￿￿nI1¢d I￿05•re1￿88 ¥th￿hhay0 be•n 0wrn8r￿1 for￿￿j￿¥ by th• TrnJsl*¥. D P•nik)n Kh•fflM Rthrethntber￿fits to •mfveuoflh• tsthc4 ¥9 bylh T#¢1￿. Pffwon S¢h•mglTPSI, Ihe Landon PIn￿lF￿ndAu￿City(LpFAl, Pgrioftho ￿1 GovemmwlPordon Schorno ILGPSI wdth•14&ST g*èmè. Thg8swts *• sapwBWfromlhw cllh•4¢hx4. T•Kh•Tr' 8¢h￿• ITP81 Tho TPS lu an wfund&J 8¢hOW￿ and contrbjbw are 90 41 to $FYe9d of ￿8￿n$ ow ern￿0￿$, Ives wilh tre 01 ￿ 8Lth a thot the r*sl is 4 $ub8t5nt￿1Y thl ol curr•nl I￿￿￿8 ￿n$b￿bI& p8yidl. Tho ￿n1￿butionS aro detsnTin￿ bythB ￿￿emrnÉo1AdYaryOn th8 b￿[4 olquadfenN￿l unll A8 5tat•d In noie 14, the TPS 18 a rnL1U-￿YQr scheme tr¢re M irtsu(fi¢iEnt infoimuts'r￿ to we Oafined bonerrt accounting. Th¢ TPS1s Ih•retcn It•*d as • dfrfined contrknutiw sthem8 [ora￿n￿r￿j pulpc¢es￿dts Contfi￿￿onS aivrwjnisedinthè perknd to whichlhey rgLth. Londoh P•n4oniFund A¥thorfty I'LPFAJ The LPFAI$ 8 knded Scheme and the ￿￿ets we 5epwalety tr￿the6e DI 5ckoolin 98parnt8 Iru5teE administered fund8. Pension 8¢hern8 8558ts ¥e meaEurnd atfak ¥alu& and Lwifibgs we ma￿￿r0d ￿tU￿oI b8Sk8 uyiry I￿ unll ¢redft rn8u￿d aTrJ dmcourtgd 81 a r*8 equEvthlk>lhe current rdt8 ol thm on a huhqu8lity corpLwaio I￿nd of equlvlent t6Tm and currnrw lo tho l18kn"￿ti*. Th8 valullboro are oblained èt k&8t1ri8nniaty gr8 updat•d 81 08th bdanc9 $Wt dth. Tt* wmounts to QFerating 8ufFlus aro the tu￿ent Jtfvi¢o Mst8 and thè ¢46ts ot 8cheff￿ introducbM5, bthefil th¥o8S. Se￿m8￿ts ￿ curf8Mm8nts. Tmy are IncludBd a$ part of i¥Jyts a5 incuwj. Net on the r￿1 defingd be￿ffi1 1k4b￿￿11￿l ts d50 rwwod in the 5talwnwt ol 8ctiwlw compThsBS the ini8te51 ￿$1 on tha d8frwJ oblgatim wd inluesl on b)8 sch8me jssets, calculated ty MUlti￿Y1r¥J the ff￿r vol￿8 01th2 Bcherne as88ts al the beginni otth8 period ty th8 rkn L•qd to d￿countthe b8nBfilobliq)tions. Thè differwKe intqr6Stlncome scherne 852ets and the acw rgfvm scheme &ssets18 r8ctyni$ed In othw iectyJn&ed 98￿15 8nd losse9. g8ins and Ic6S68 ¥8 re¢09n￿ad Imm8LI'atgty h other r￿￿Sed9?1￿saTrd k)ssw. IBSTOCK PLACE SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 1. ACCOUIIT14G Ki￿lEs{cor￿nU 11 ￿TrIk)n iGhwneJ l¢onllnwdl NEST ￿ 8 r4rffjknn#ch¢me Is a truslby NEST NESTcorpor*on reportto Parflam￿l throvgh the secr￿￿01 State frx Woth and Pen¥ron$. The Sthol 8nd the m¢mb&s musl t￿mpty the mlrimum rquirements ¥1 by thè 2W8 k( 1th0￿h both elrphw and empknrn ￿ L￿￿but9 tlw *i>h. The NEST S¢hem• defmed Conlnbjb.r￿ xherng ￿ contrbukn$ a nised intho periodt0wh￿h theyrekate. kl Crflk•lA¢¢ounllTrg E•Urn4h8ind iisuThWIoTr• AccountirKJ e5timat&9 ￿ ￿e￿nts ar9 c(￿￿n￿l￿￿1UItsd are bswlon hLskn'cd 8xpthlw￿ and thfacbrs, Indudro wectsticrt of r¢th•nts tlwtFAa b￿￿¥¢d10 b&rea$L￿atIO underlhèthroJm8ts Ac¢xurtlw e3lknètts 8ndludgewthL8 alecontir￿ eV￿valEd ond bu8￿ on hL%tsical èxp¥nnc¥ flhtr f&tsra, Inthllnp of fubyo 6h*)ts Ih8laie WB¥8d to be reasonaNe Under￿ circUm￿anCes. Th& wesenl valL* of th8 Local G￿m￿nI PensN Scheme defined bonefft a58et dewds on a numbtr t4 factu6 thEt ar8 detomined on an Ivfjrial b8sb a variety 0f￿umF41onS. The a55umplkM U88d in dottTmlniry mt c￿1 ry in¢Othtrp￿thts the dlsewnl rote. Any thanges inth•s8 a58umpboro, ¥e disd03￿ in Mte 15, wlll Impact th8 canying SM￿￿1 01th8 as￿( Furthwrrth a rol fowrd r08¢h which weiects r85uttB Irthm th8 latest lull tLtu2dal vthabon F4rfomxd th 31 Marth 2022 has be8n by thè &tuary in valL¥ffj the ajsal 8131 Juiy 2023. kny differwtC&9 be￿9¢n ts fi9vrgJ derivèd fm tho rdl foNatd aFpffjxh thj a tLII vdvalknn 1rnpa￿ ofthe pons￿￿ liibj'lty. I C114RITAALEACnVITE8 2124 202¥ Schrd108s L81•fj¢hu￿réh1￿ burt*B 25313,810 22,949,3S7 If nj 22 110 368 J. OThER ACTMTE8 TO GENERATE FUND8 2423 1>8nts•nd Donthn8'. w•￿WThth Co￿￿1.. conMbAon towarf$ 1 k) l pll￿1 ¥f12 3M&79 511566 4. INVESTMENT INCOME 2024 Vnr•itrlat•d 2124 Totsl T¢tsl Bank intsre&t 9)6 & AIiILYSk80F RESOURCES EXPENDED 2D24 23 Total 8tsfl¢••l• Oth•r¢wty Dwr•clth Totsl Twhi 11147.587 14441,305 1291,855 451921 4,297.012 1744 If3 22234,312 1178lJ94 I,Jiin8 Cre￿ Promts85 Sutvort Lwts 515.1OT JA19 115218 1,855,751 1047,712 4.1e4367 71 24,754,Qlg 1,147,742 Gr•nts Ind don￿0￿* Total r••our¢M 1x•￿dId I 147742 ￿236760 20 754Q11 1BSTc￿K PLACE SCFbJOL NOTES TO THE AccouKrs FOR THE YUR ENDED 31 JULY 2024 & 8TAFF COSTS 3]23 Staff ￿dwa9•S 5ecurltytt¢ts 11.516.630 11243 2,151,180 10Jg9, 1314.301 1231216 R6s￿￿￿n9 c09 14992,116 11A33 13,14820 ¢y stsff cosls Lyhorstaff ¢￿tI TotsIStthe￿ M8do up 88 fol￿.. To¥*irvJ st#ff 12,147,5N7 2 855962 10,721,2J7 1231.618 13 952 815 ' InJthj￿0￿ to thè conbt*Jlons d￿thI In 14, Ihts t1801n¢l￿OSIh0 FFIS102 8dluatrnents pmvlded bythe4ciuury. Th9￿ Nnag•m•ntpW￿rt￿ oltho ￿hr￿f￿￿3¢8 pwplo12023,.7 pykl th•Ho*J. Burw, Depty HqadD andthe E¥Kulw T 8Mount0f￿p1oY¢0 benefits ÉmF4wi per￿￿ co)b•Jthknns1 ￿hdkny krymir4thThnl p¥sonMllorlh￿rS0th¢•I to £1,168,￿312023.' £1.[￿l,731). Awwo•nUmhrof8mpb￿l durfry thèw. 24 2023 8tsff 166 124 Thonurntwrlempkyws &9 purw5lm￿Th￿to0￿É6o,l￿ In ￿￿ar￿a>•¥ fc4bM'. 2024 2123 £60,CIM)- £69.999 £70,￿.E79,g95 £Bo,C￿-£89,s99 £90,W)-e99,999 £l00,￿O-£I09,999 £110,C¥)0-£119,999 £120,000-£129,IJ9 £130,OQO-£139,999 £180,ON189,9Bg £200,000-£2C6,999 ThenUm￿orh￿3h￿pSidemF￿￿1s1*1tt reth¥n￿1￿￿￿offits iTrd6fiNd i¢hrnwas6812023.. 601. 21 IBSTCKK PLACE SCHOJL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY2024 7. NETIN¢OIIE Ngt aftwthving,. reraafj dK¢*$ reM￿Orthn IM,114 1,753,178 18,1 TANGIBLE ASSETS Fn•hohJ knd Furn￿￿••nd •nd bUn￿n04 •qWprn•rt Tot Cc•t89 at 1 AL¥U812023 50,403,058 1.540,788 6,298,rfj4 $5,701.093 2,093.438 Tran9 DLryF<*aLy Aosth uTrJeTconsbu¢U Cwt rt31 My2024 52,043,169 5,850.683 57,8¥3,852 Oepwithn as41 l AUg￿t￿23 Ch￿8 fortrey eimknul￿ ondl$poMI At31Juty2 10,837•1 1,050,496 2￿71,40¢ 796,618 13,614,755 1,847,114 11,687,847 3,774,022 15,f61,889 N•tbtsDkv4fu• At 31 Juty 2024 At31 Juty2023 22 2 076 861 DEaTOR8 dy•wthln •n• y••v. Trndèd8bknrn Olhèrdebtrn AcMJ8d Incry8nd Fyepaym￿tr 13,349 121072 311724 IQ CRepiroRS: wnounl•hllkngdu•￿1fvon•YMr TrT*J8 Ctedttth7 Tthn $oE44 Swthycredtros 401,716 310,n8 429.146 134JlS 427846 Oeferred inKffie Fee d8pwrfs anathn￿ toyn*r*A 51,407 112,710 32 1457185 BSTOCK PL4CE SCHOOL NOTESTO THE ACCOUNTS FOR THEYEAR ENDED 31 JULY 2024 fl. CAECITORS.. •nouffttsf41ino du•altyron•y•ir Fé8 8dVMpWn￿ts 40M,806 19J3,6r4 12. MOVEMElff IN FUNDS F￿Thd Fund c•• •tJ1 Juty2D24 Inxfflir¢J rwourc45 Resources G8lr IL052esl 2123 R4¢td¢tsd Fund• 8*1￿8 FUNJ rmtrktsd tu 2,867 Unw••tdthd DesvJMled ¥w￿lonA#$ItrwtNa D*wJn8t8d.LGPS flur#uatwJrs rweNO Da8lgnathd4ulbllro dwdrgmenl nd D#l9natsWrniryfvr D85i9natedEn8Tgy, EfficknnGY￿d J5￿mblI* Fund GeDer81 FyTrJ wArMlrl¢t•d fvTrd• 2,178,QO 3,D11.WD 1540,0001 1,705,000 2.944,CO) I67,0￿) 5.OCQ,tts) 189,841 1,500,0 113,449 303,09 1,5ts),WO 44,130,302 s6.[￿6,943 25,630,179 25,￿,179 122,303,7601 122,236,760) 146,4491 47.410,272 58,882,362 1540,OWI T•W lurtd• 58011810 258301PJ 222367e PuipoMofFund•'. RMtrid•d FuTrdi Th8 BO￿lJ3 Fund tepreuents th• rwnlndèiol byth Wllgs, • hadmkltroys ofthB Schtrj, to fuTrJ awards to WF4￿. Unr•th¢tsd Fund• The Oe￿gnated Pons1￿ as881 f•ttwve reptgsents Iho mowments and Sr*oofs sham olthe on tho gowrnm8ni per¢1￿ 8c*wno, ih Londm Pen¥w Fund AuthoritylLPFAI. a6 a>Sej¥￿ bylho LPFA aENJaries. The ￿￿OIha$ been rwnl2ed in w0?￿8nce￿kn FRS102 and bth 8xtsntthal11 can ￿r￿V￿red in futurtr￿8￿ IhrwJhreduGlon h empbyei CDnbfjMon. Tho18St(ullaciuarwl v8lualon of tho hJ￿ w￿8131 M¥¢h 2022, wNch8éth conblbulonE lorthe p¢iW from I WI 2022 to 31 MgKh 2025, reduced trom 21.8%b13.1%. Thg D￿gnaled LGPS Ptnskn fl@ualcn r8yem r•vegenisf￿dJ aet85ld8 bylhe Sth¢(41orn￿tft￿UreÈxP9ct•j rev•re* In Ihevdu￿0n9Ithe S¢hool'5 $haw¢1th8 85581 inthe LPFA 9th*m The De¥'gnaW Buldiro devdcymentlund r•kYg98nts 901a￿de forbLiWn9 thBIDwnanlkyole¢ts Iiklw pla￿￿￿610110*1ty f&¥ye￿. Th8 Dey$nat*J fund for b￿*1&$ ha$ been oststloh8d to builj lund th6t may be to 9w*r3te to fund fubJM athy1t￿aL The D¢sh)naied Ewy, Efficléncyand SuslwrthlW FWdr0pres￿ts mcffl1esjet￿￿jaffordB￿n9 Ih8Bcknol$ N&Z8roCth Str*gy. Th• fAn8trJ FuThl cornwises fvnds which Tn￿te89 we tree to in xc4rdaK4 th• ot4thS8 ol the Charity. In ffj'cè, they 818 in F￿dIS2ots and [￿laV￿￿19t1at0￿• 11 AJWYSIS OF CIL4NOE81NIIETCA&I Atl Awowt AtJl Juty JJ24 Fb)ws . Bonk current￿nts th￿811 montyrnarketa￿Wts 5,019,683 9,292,653 7￿661 11216.009 2J14,011 21lfy8,662 14 312 336 IBSTOCK PLACE SCHOOL NOTES TOTHE ACCOUNTS FOR THE YEAR ENDED 31 JULY2024 14. PENSIONS Thes¢hoc4'sfrnpWes Wong totrmprfnclpalpenlon s¢n•nes.'1h¢TeaL*e￿'Pension S¢herne Englandand Wal88 (TPSI tr aCad￿1C and related staff, Lw81 co￿￿11 Pensth scher￿ ILGPSI Icf non-teaching Stat(, thith. mènay¢¢ by thg Lond¢￿ Pth5KMS Fund Authortty ano th$ NEST Pengbn &heme. p￿dOmIn8Th￿ l(r Cateiiry ants Ckningstar. Th¢TPS8nd LGPS8￿brth muth4n￿oY¢rdefinea bene1t￿n5￿)n scheme58nO NEST￿ èstakthohjor schemè, The Latest oftho TPS r4aiod tothe perfC￿ ended 31 Mar&1 2020 and oltheLGPS 31 Ma￿h 2022. There nDwlstandin9 Cu￿bU1￿￿ atetherlhe b8uhniny orlheth1 ofbl8 ￿1. TEACHERS, PENSION SCHEME hrtroduclon TeathorJ' Pertsion Schome ITPSI15 ajtslutory, contrbuty. Wnod beneftt $trrtrn8. 0￿￿ne1 bythe Teachers, pen￿On ScharneR£gulabon5 2014.Membershlp is 8Utomal'¢forlul-Um8t¢atheroln*hoc4¥¥n¢, Iiom1 J3nu8ry2007. tomal¢ for t￿berS In 8thocAs kn part.ume OM￿0Yrn￿t IdlNlng aptx)inimonl ¢Y 8 1*8ngo ol contra¢l, Ml lea¢hws hthth&Opt￿n to optculDflho TPS folkm'ng ￿r(IM￿l TPS Llan unlund8di¢hern•towNchboth th8member8￿ernp￿rrnakOS conlrlbuuons, as a - Ihe¥e contrrouuons are to Ihe Exch8qL*r. Reurnrnent 8rK10lher p￿￿10￿ banefth are paKI by putlk luTrJs by P8rllemeni. Vthodon •flh•T•ach•rn' P•n*lon S¢hvn• Th8GoveM8ni Aclu8ry. usty normo1¥￿￿tr￿?lpfin¢￿l￿,céndUGL% aform8la¢Walr•V￿cfth¢TP8lna￿OTd8nG6 vlth the Publlc Sefvl¢e Penskns W￿￿•￿0￿88￿J ErnpbYer¢￿IC￿pl 0￿9¢Y￿S 2014 put4L4hed byHM Tr8Bsuryo¥1ry 4 )•8rJ. Thg 84m ol ihe i$10 W5ure sch9mé cc4tJ ar• rnCOllnl¥eO m8n4ed ¥pwoprLthty and ihè re¥kn¥ $pecNth the lovel of lulure c0nbibu1￿nS. Adwri91 schwne vokjalons jredependenlfm *iumptsM $boul1￿¥￿￿OffvtU￿¢£11l, deJ*n ¢lbènoffoindminy oth¥frthrn. The laie* a¢iuari& vèbJBt￿n of the TPS ¥v89 ¢•rrf8d out 88 al31148￿h 2020. The valuat￿1 teFQrt ¥ puNhh8d by ihe D8P8rtmeni for Educallon rm 27 O¢tobw 2023, wFth ihè SCAPE f8t&, 58lby HMT, ap￿yIng a no￿n•T Inwtmonl r•bJrn baeeo cffj 1.7%4bove tho rnle Df CPI. Thekeyohmènty ol thgvalu411on oui¢orfyg are.. Emptyr contrfothknn iJt¢$ iql al 28.68% tsl ￿sFOn8b￿ pay o￿lUdIng J 0.08% admln151r*ion levyl. Thls15 Fn¢r¢as•o15%in empWr¢4ntrtb￿￿ni ondlheeosl¢ontr￿r88Jll b8U¢hlh8Ir￿ ¢hJTryeln m¢mt*rb8nèfrts 1$ needed. Tct81 $cheme habi￿1￿* ¢Uff8ntty In peyTrnl and Iho ésdrn$led ¢051 of luiure bentrffiil loi 10 th9 eft•cbYe dele 01 £262.000 rnllllon and n01kn414899ts Ivstymated r￿Ure ¢ffiknbulM)ns iogethw wlth Ihe ndbn•l In%*knentg h•kl allhe valu￿￿ dele) 01£222.2W mlllK)n, gNlrvJ a pa¥1$¢rV￿A defKllo1£39,eoo Mill￿￿. The re$uiiol ￿l￿at￿n was Impknentsd from 1 I¥rt12024.Th8 MKI vglu•lon io b&lmpknTrt•d trom 1 ApiU2028. Th•empl￿9 pald to TPS kn the perlrpj amounted to £1,955,86812023.' £1.682.5321. ArApy ofth9va￿a1knn wort and $upportlro dttum8ntgtbn b on the Tegch6rs' P￿￿)￿1 web￿ta. Undèrlhe deflnl1￿n¥ saloul h FR8 102, Ih8TPS hin unfund•d 8¢hom. T￿a¢*jomylrV1I ￿na￿et0￿de￿u[Yth 8har8¢llheundertyknu a¥58tJ ondll0bltti￿ ollhl plan.Ac¢or¢lngty,th&8chwlhw t8ken8¢fvani•J• ol th8 e¥empiion In FRS 102 and h8s 9ttWn￿d lty ts cOn￿bUt￿n$10 Ih?¥¢heme as 8 Oefinod eonirfbulm 8ch&n•. Ttsa¢wJèmy LruslWM1r￿labQ¥O, th• Inknnauw an1lblè￿ thescth•n8, NE8T PENSIOM SCHEI Thg Sthool 1150 othbutès to NEST., 8 $tokèhobJ8r wn$h)n rvn a$ a bw¥l ty NEST CLYpu81¢M. NEST Corporakn report to P8rf18monl IhroLyh the Secretary of St•t8 for Wryk and Pensions. The Sthwl 8nrl the memberd mts$icomptyvlth th8 minlmumcontribuVDTr r￿VImMI￿L8 ￿t by the 2009 Art atthough both emrty05 8nd •rnF4oygr6 may conlribute mtsrelllhey￿th. The SchWl¢u￿enIy￿n￿bUfeS 815% and ompknyw Mnlribule atotsld 5%, 4% dBducted their pay and 1% cLglm*1 from HMRC by NEST. The empw wnlrfbulK)D3 pa￿j In the y £71,50212023.. £28,266), Th& NEST P•n$ll￿ Sthffrfj b 8 ￿n￿bUtTL￿ •nd c0rfrffxfft￿1 1 recognknd In the pwfod to*thkh they r6lato. LOCALGOVERNMENT PENSIQN SCHEME London P•¥5Dn FufftdAuthorlty Tho Sctrnol GontrSbul• to Ihe L(￿d0￿ PonilM¥ Fund Authorfty ILPFA). M of the Local G0￿mm￿l Pqns sch￿8. a dèfined benefft 6tsb)tory sthgme. Tha Fund b Idmkn￿t￿& by LPFA in ￿X0￿danCe wrth ¢hg Loc41 GMinM￿l p8n8knn Scheme Re9￿)bOTh$ 1997 a$ 8mend8d. The SG￿9 ilg myllbwn￿Yer Defin&l Btnell SKhem6 IBSTOU( PLACE SCHOOL NOTES TO THE AccouKrs FOR THE YEAR ENDED 31 JULY 2024 I& PENSIONS IcoTrmNUEDI Thèfrdkjylro d￿¢￿j$u￿s rd*toth•LPFAand a￿m￿je10corn￿Yhkn FRS 101 Th•yw8ba8•I testh ofts full ¥dL4don th8d out at31 2022 aNI updthd kn31 July2024 tya Barr￿tt Wadth￿h8M u$ivJ wroprt* atharf81 techniqws wd aw￿L* inform8tion. Athouyh th6 mulI&ernF4￿r th8 •Suary hag been ableto èttdtyJt&to Ib8trtk Pkyg S¢hwl ft8sh?rsofth8 sth8mè'$ ¥8etsand la￿'￿ti8￿ Theinfcfftkn) digdN8d refixts ItffjknkP*9 Schrd$ 3hw8ofthexhorrf8 wgts art Ik8blOe¥. 31 July 2024 At31JJ 2023 Rgie of irtr•ag8 in sdams Ratèof increaseforponsknMlnF* D15couTrI rae fN5¢hth￿$ IKqbifi'05 Inffthn a5sumpUon ICPII r¢tLYn on8¢*wne •t31 190% 3,85% 2A5% 5.15% 1.75% 4.64% 1.7W4 I￿3% Th•rJJrrentrnortAtymumFIws sulnaentalloYMK•trfvbJ• kxpro¥*rnntyln mortalty r Th•al￿•￿ r¢¢lr•nanl4165arw. At31Ju 2024 Ji Juty At 31 July 2023 J*) R•Wrfnglod•y 219 24 24,4 R¢tyNtyln 20y•w¥ Mde¥ 21 24.9 23.1 2&0 bl Th•M￿r¢￿011# •• • p•r•M1￿ SGh•m• M••i•w• MfvloW• At31 Jity 24 At31Ju )23 Equ￿68 Bondi ITtyr8bm wthlol Infr8strLth• Pnpo C4Bh 81 16 S7 19 l Th••duil nbjm onth• •¢h•m••wts kn th•y••r 245,OtrJ 9.000 ounts In Ih•St•t•n•rtofFknwd•l A6tJ At31 July Z024 At 31 July 23 Cuffent98Mce c03tlMtofoMpio)wconirithlion¥l N8tlnt8WStco¥t min￿traI￿n 8xwnses 251,W 1118,(Wl 3,(￿0 489,IX 16,WO Totsl OF4aUng Ch 136 W) )9.0 IBSTOCK PLACE SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY2024 PENSIONS IcoiifiNUEDI •) r•cognii•d InthtBaknnco Sh••t At31Ju At31 2D23 Present yalwof thodeffnedben8llo￿l9￿￿n FEirvaluealFund fohlv8lual 17,705,CIMI 17.075,0(N)I Imp8Ctof w¥etc8ln9 Pkntd•ffn￿ b•n•fftil￿lw￿l1I 2,11IQLh) 2,178.tNYJ 1705000 Chwg•iln th• Pr•Mn1￿lu•￿th•￿Iffrt•d b•n•fftobllg•kn #loMovA: 231th 131&ty 2023 defir0J bonofftcl*aU sa￿tI ¢osl IntsTrJi cosl Empl￿&￿tr￿j￿? EwbThllc8I1)J$yga￿ on dpfinthy Wct4&J• Chanqa In Inanci818￿￿fflpI0n¥ Change in dwnojriphlc P4glwhlcocost8, Indudinu BIn•fi￿ po￿ nthoftrvrnf8rs In D•fflTr•dbM•fftoblJo￿￿ It￿d ofymr [7,075,￿TrI 1251,fikll 1362,lJWI I120,￿0) IQ888,CQDI 1489,OWI 1300,0th)1 1110,0001 le29,￿0} 2,898,WO 449,000 1197,(￿0) 16,(1)Q 7.075,000 At31Ju 2024 At31 JuNf 2023 Inter￿10￿ aEsgts R￿urn on Iw Int￿1 Otherastuad81I8lnf*llknswl AdminYltr8L￿fi experoes Empby•rwnl1￿ Ernployeè￿ntr￿￿t￿ eenefits pald ￿u5 unluThY8d n8toftrwth hlrv4tyM offvnd ••• 9,253,OC 480,0 129,OLk)) 8,203,CIO 264.￿0 10t,￿0 393,LW 13.r X)3.0 120,000 2D3000 9 821000 341,0 110,C 176000 The ￿8it￿4tyr￿rQ7￿91h u8g¢k)mNswo h g¢h*r* I￿IKtR$ aroaetoul tth¥', Ch￿de￿ aj at31 J￿&24.. trbBn11od￿Un1Igl8 PTr8ontvab* oftotrj Dbhgthn P[q9d￿ 5erylc8 cut Iwtrnwrtkn h)ro tann Prnsenlv81uoolbtsl obllgat Pro*88rvtiGoJt Adlwtmenlbwrnth wKraaw and dofwred pr￿801￿￿￿ oll0tsloh￿aIk PtoithJservK¥wt AdjuBtmentb thextrftsn¢ya58urybcm Prwlvabje oftotsl 0￿&8￿0Th Mic¢ LyJsI 40.1% 7,577 254 0.0% .1% 40.1% 7,718 -0,1% 7.7Cfj 40.1% 7,828 273 +1y8ar 0.0% -1year 7,7C6 263 273 26 IBST￿K PLACE SCHOOL NOTES TO THEACCOUKrs FOR THE YEAR ENDED 31 JULY 2024 1& NET ASSETS Fmd L•nq tgrrn As2•tsff(LkiblltO•$l A¥Mts Totsl R•s￿r￿j funth Unre8tthd (unth DosiJD*d 2,867 10,160,095 9 747Qg0 19930.052 2,867 47,410,272 42,231.983 15,001,806) 42 231983 58 865.229 16. TRUSTEES, REMUNERATION AND EXPENSES NoothwJethbJ patytran8xti￿ts owrred in the year. Nc wa6 pwdt0knyofth0Tr￿ 17. MEMBER8, UABILrrY Ibgtodf P*c& School13 a ￿rnp8ny IlMit￿ by guwwiee iTrJ h& no 8h8t8 Ea¢h mwnb81 of C￿panY undartok85 o¥nthbut• k th&8mtsofthecompwy in tho 6￿0f￿tIlry wound up Wh1￿ Wshe ￿ a rnembgr, ry¥Yhhin one year 9fterhthho to b¢ m8rn￿r, SLk* arnount88 moy bo WL4r￿. nOt•Xce6d￿￿ £1 krthe thbts wdli*l1rf￿l eonlrn¢ted b￿￿eh￿hÈc￿$￿j to ￿ B merrthr. 11. CAprrAL COIAMifMEMT Th• ha8 noGaFit4 comrnitmmts. 19. STATEMENT OF FIIANCIALACTNmES-COMPARATrIE FIGURES BY FUNOTYPE Ymr Ertd•dJl ￿ty212) Fund4 Fwbdl Tctsl INCOMI￿ RE8OiIRCE8 Ch•rftabl• A¢trWHt• q•n•rat•fvnd• (JhBrlrtoma In¥•sbnentincm Incomlng r••MrHI RESOURCES LXPENDED ChaihabhithlU•i Schts￿ eXw￿1bJr8 Grants and Donalkn$ T•tal r••OUr￿ •xp•nd•d 22,18Q,301 391,531 376 417 341,$31 376417 2O,754,IJ18 2O.7YI.018 20 754011 INCOME BEFORE GMNS AND L088ES 1194297 2,191297 PqMkn8thBrn8PLbJarf￿90In1{1￿l N•tmo¥•ffl•nts in 1111,000 3,Q11.000 Funds broughlfoN8ftJ SOW3.641 50,8fj6,513 Fund ￿n¢￿tar￿•￿ IBSTOCK PLACE SCHOOL NOTESTO THE ACCOUNTS FOR THE Y84R ENDED 31 JULY 2024 20. POST BAL￿E SHEEf EVENT On 29Juty2024, th•ChanClbroftsExcheq￿r*I￿tyJ￿Cad that, &% cf1 Janu8ry 2025, al ￿ucthn $eNic85 and 9UPtknJ tyo prNatsJthor4 f0rac￿e￿1 h SL*l¥tto VAT81th8¥t•J•d th 012N Ilvrns ikn thBtleos (Y Pa￿ after29 Ju 2024 loth8uchts)IteTm5 atter 1 J￿￿ary2O25 wll bÈ the stsf￿ard ratsolVAT. Thego¥emrMnl b5LEd a techn￿￿ tha prow5ed policy*J 8dws8dthalthwowould b? a¢rr6ulthn 15 Septernber2024 bofDroth8Autyrnnbudgetp￿r￿r￿￿tDn 30 (Xuber 2024. Iflhe le91$￿tion ￿ pays￿ th8 Sth mu5tth2rp th• stathrd rote ol VAT tse¥ dw*vJ 2025, il is Ihatthe $choDI fe& 8xcI￿￿ of VAT te thJc&J io that the bj￿en of the InrAeB5e in costs b sh8red betw4￿ tho and thg Schcd Th1$ bo a onxlfredth￿0n ard f•eswoukl ie to Incr9•9e C￿ ¥n anThJal ba￿ going fonvwd In lm cosis Tr go￿￿nI *0 snnNn￿ pkn5 b rwnm evg￿lty0fpr￿8te s¢hJds in En9land to buslnBSS fate5 tharf1*49 ra*8 ￿troM 1 WI 2025. CurMty, arryyte￿d ch8rity, the scho￿ mandatychatsbk r*¥ rewo1￿.