Registered number: 08502615
Charity number: 1152244
THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company limited by guarantee)
GOVERNORS, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Companyj its Governors and advisers
Governors. report
Independent audttor's report on the finan¢ial statements
Statement of financial activltles
3-11
12-15
16-17
Balance sheet
18
Statement of cash flows
19
Notes to the financlal statements
20-50

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A Company Ilmited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS GOVERNORS AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2023
Governors
Mrs K Gilmore DPSN RGN HV, Chairl
Mr M H Dyke BA, Vice Chair1
Revd J Allcock BA, Rector of Martin in the Bullring2
Mrs E Andrews BA PGCE lappoinled 16 May 202313
Dr Sarbjit Bahia MBBS MRCP MRCGP DRCOG Dip Occ Med Bsc lappoinled 18
October 20231
Rev C Butler (appointed 22 March 202312
Mr W G S Hordern MBE MA DipTh JP
Reb M Kitto BEd (Honsl MEd PGDip Hon Fellow NSEAD
Mrs E Lawson-Bennett LLB Msc
Mr A Milner BSC (Honsl Chartered Fellow CISII
Prof P Narendran MBBS PhD MRCS FRCP
Mr S Page ACAI
Mrs A K Poole BAI,4
Mr S M Raine FCA BSocSci1
Mr A J Roddick FRICS Iresigned 18 October 202311
Mr B H Singleton LLBI.5
The Very Revd M Thompson MA MPhil, Dean of Birmingham2
1 Finance & Estates Committee (together with the Headmaster, Bursar and
Finance Manager)
Ex Officio
Designated Safeguarding Governor
Governor for SEND
Governors, Representative to The Friends of The Blue Coal School
Company reglstered
number
08502615
Charity registered
number
1152244
Registered office
Somerset Road
Edgbaslon
Birmingham
817 OHR
Senior management
team
Mr N G Neeson BEd NPQH, Headmaster
Mr G W Morgan, Bursar & Cleik to the Governors
Mr R J Newman BA PGCE, Second Master and Head of Prep
Mrs H R West BA PGCE NPHQ, Head Pre-Prep
Mrs A Franklin BA, Director of Marketing & Admissions
Independent audltor
Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
Wesl Midlands
B69 2DG
Page 1

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limlted by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS
ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
Bankels
Barclays Bank PIC
15 Colmore Row
Bimiingham
B3 2BH
Solicitors
Veale Wasbrough Vizards
3 Brindley Place
Brindley Drive
Bimiingham
B1 2JB
Investm¢nt managers
CCLA
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Page 2

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A ¢ompany limited by guarantee}
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
The Govemors present their annual report together with the audited financial statements of the Group and the
School for the year ended 31 August 2023. The Governors confirm that the Annual Report and financial
slalemenls of the company comply with the current slalutory requirements, the requirements of the company's
governing document and the provisions of the Slalemenl of Recommended Practice ISORPI, applicable to
charities preparing their aceounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 leffeclive 1 January 20151 as amended by Update Bulletin 1 leffeclive 1 January
20151
The Charity is a charitable company limited by guar8nlee. It was incorporated on 24 April 2013 and registered as
a charity on 31 May 2013. Its Memorandum of Association, which established its objects and powers, provided
that in the event of Il being wound up, members are required lo Contribute an amount not exceeding £1.
Membership of the Company is reviewed al the Annual General Meeting as appropriate.
The unincorporated Charity's goveming document is The Trust Founding Deed dating 1722. This has been
amended over the years., the latest amendment is dated 17 December 2013. The unincorporated charity holds
the charitable group's endowment assets. On 19 June 2018, the Charity Commission issued a Direction linking
the charities for the purposes of Part 4 and Part 8 of the Charities Act 2011.
Governors and charity trustees
The Governors ol The Blue Coal School Birmingham Limited are the charity trustees and directors of The Blue
Coal School Birmingham Limited Ilhe School} and The Blue Coat School charity. They meet al least four times a
year as a full Board. The work of implementing most of their policies is carried out by members of five sub-
committees." Finance & Estates", Awards,. Safeguarding and Health & Safely., Teaching. Learning & Curriculum,.
Governance & HR The minutes of these sub-commillee meetings are reviewed at full Board meetings. The
Bursar, in his capacity of Clerk to the Governors. is responsible for coordinating the work of the Governors and
their committees, for the preparation of papers and management accounts and for the review of matters arising.
New Govemors are appointed by the existing Board of Governors having identified gaps in expertise. Potential
new Co-oplalive Governors have an initial meeting with the Chair of Governors and then attend a meeting with
the Chairs of key subcommittees all of whom sit on the Governance and HR subcommittee. New co-oplative
Governors are invited lo join up to sub-wmmittees most relevant lo their experienee and having regard to
the existing number of members on each sub4ommittee.
Indu¢tion and Training
All new governors are allocated a mentor, undertake an induction programme and are given access lo the
Governors Portal which contsins key documents and copies of previous sub-committee and committee minutes.
All Governors are particularly encouraged lo attend various school functions and to meet members of the Senior
Leadership Team, in order to be able lo understand further the nature of the School's business. An appropriate
level of instruction is provided for both new and existing Governors to update their knowledge and place them in
a position where they could sensibly identify their powers and responsibilities. From time lo time. Governors go
on formal training courses that the School and that individual Governors identify are required for that Governor lo
be able lo discharge hislher duty.
All trustees give of their lime freely, and no remuneration was paid in the year. Expenses of £676 were paid lo
three Governors during the year.
Page 3

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA ¢ompany Ilmited by guarantee)
GOVERNORS. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
Key management petsonnel
The Governors consider that the Head, the Bursar, the Head of Prep, Head of Pre-Prep, Deputy Heads and the
Director of Marketing & Admissions Isenior Leadership Team) comprise the Key Management Personnel {see
note 11 to the accounts). The Govemors give of their lime freely and the pay and remuneration of the Head and
Bursar is set by the Remuneration Committee and is kept under annual review. A number of criteria are used in
setting pay..
Nature of the role and responsibilities
Competitor salaries in the region
The sector average salary fof comparable positions
Trends in pay.
Oryanisational management
The Governors determine the general policy of the School. The day to day running of the School is delegated lo
the Head, supported by senior staff. The Head undertakes the key leadership role, overseeing the educational,
pastoral and adminislralive fundions in consultation with the senior staff. The day lo day 8dminislralion of the
School is undertaken in line with the policies and procedures approved by the GoveTnors, which provide for
significant expenditure decisions and major capital Projects lo be referred to the Govemors for prior approval.
The Head and Bursar attend all Governors meetings and other senior staff are invited to attend Governors,
meetings as appropriate.
Other relationships
The Head is 2 member of IAPS, which exists to share expertise, knowledge and experience across the
independent preparatory school sector. The Bursar is a member of the IS8A, which provides professional
development, technical support and invaluable reference material.
Other key parties supporting the School include the Independent Schools. Council IISCI and the Association of
Govefning Bodies of Independent Schools IAGBISI.
BCS Enterprises is a wholly owned subsidiary undertaking of The Blue Coal School Limited. It is managed by the
Govemors of the School and its purpose is lo generate surplus funds lo reinvest in the School. At present this is
now a dormant company.
PUBLIC BENEFIT
The Governing Body have given due consideration to the Charity Commission's published guidance on the
Public Benefit requirement under the Charities Act 2011. The main activities to further the charity's purposes for
public benefit include..
Foundation places
Each year Govemors allocate a sum of money to fund Foundation places. These pla￿S are advertised in
numerous publications in the Birmingham area as well as being advertised online in various digitsl applications.
Page 4

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
A company limited by guarantee)
GOVERNORS. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
Communlty Link Programme
The Community Link programme seeks to widen access lo our educational resources, by bringing independent
and slate school communities together.
This year, we made the following facilities and coaching available, at no charge, to benefit pupils attending local
slate schools..
Use of the swimming pool for swimming lessons and swimming galas
Use of the sports fields for sport festival and training
Use of the School Chapel for musical events and religious observances
Use of the school facilities and staff lo provide outreach opportunitses to local schools.
Communlty access
We all see The Blue Coat School as part of a wider community, and where we can assist the community whilst
advaneing the education of our pupils we are delighted lo do so. Various Sports and Music Camps use the
School during school holidays for sports and activities holiday camps. Our outreach programme has included
opportunities for local schools lo access our facilities al no charge and lo lake part in 'Experience Days, during
which they enjoy a wide variety of activities in specialist areas of learning (such as STEM, Music and Forest
School). There is no charge for participation.
OUR AIMS
The object of the School is the provision and conduct, in or near the City of Birmingham, of a day school for boys
and girls. Within this object, the School has various permanent endowments and reslricled Trust Funds held for
special purposes in connection with the development of the School's facilities and for Foundations, scholarships,
bursaries, prizes and other educational purposes. The School provides education to boys and girls from the ages
of 3 -11 years in departments.. Pre-Prep13-7 years old)., and Prep17-11 years old).
11 is policy for all departments lo attain the highest academic levels, commensurate with a pupil's ability, as well
as providing a co-curricular programme which aims to broaden a pupil's interest 8nd self-confidence. Instruction
in the doctrines of the Church of England is given in the School and religious studies encompass education in
the lenels of major world faiths.
OUR OBJECTIVES
Our objectives are set lo reflect our educational aims and the ethos of the School. 11 is important to us that we
maintain and enhance the academic success of the School.
The Governors have referred to the guidan￿ contained in the Charity Commission's general guidance on publi
benefit when reviewing the charity's aims and objectives and in planning future aclivilies. In particular, the
Govemors have considered how planned activities will contribute lo the aims and objectives set.
Page S

THE BLUE COAT SCHOOL 81RMINGHAM LIMITED
IA company limited by guarantee)
GOVERNORS. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
The principal objectives for the coming year are..
To continue to make first<lass provision for the Early Years (from age three upwards), introducing our
youngest children lo their educational life in sueh a way as to allow them to flourish fully as human beings
in an ever-changing world.
To maintain the current high stsndards of academic achievement indicated by senior school entrance
exam results al 11-plus level and other external measures.
To recruit and relain the best teaching and support staff to assist in the continued development and
promotion of the School as a leading provider of preparatory education not only locally but nationally.
To develop the all-round curricular and co￿UMeu1ar provision lo ensure excellen￿ in all areas,. academic,
music, sport and performing arts.
To widen access lo the school through the continued provision of means-lesled bursaries.
To enhance links with the local eommunity and to encourage the community lo access the school.
To prepare, in conjunction with the Headmaster, a detailed strategic plan incorporating a five-year
financial m(xJel to assist in the development, financial management and control of the School.
The Governors are responsible for setting a strategy for achieving the objectives they have sel. The focus of our
strat￿Y is on the development of our pupils, their continued high levels of academic and co4urrieular
achievement and on measures lo further widen access lo the education the School provides. In taking fotward
our strategy we..
Review and benchmark the School's academic syllabus, teaching practices and examination results,
Ensure that the range of co<urricular activities available to our pupils is stimulating and challenging",
Invest in technology and the infraslruclure of our School.,
Co-operate and share resources with local schools.,
Develop methods for awarding bursanesl scholarships lo ensure wider access lo pupils from all
backgrounds.
OUR ETHOS
Our ethos is to be a caring Chnstian School serving our local community and society.
Our School welcomes pupils from all backgrounds. To admit a prospective pupil, we need to be satisfied that OLIT
School will be able to educate and develop that pupil lo the best of their potential and in line with the general
stsndards achieved by their peers. Entrance assessments are undertaken lo satisfy ourselves and parents that
potential pupils can cope with the pace of learning and benefit from the education we provide. An Individual's
economic slalus, gender, race, religion or disability do not form part of our assessment process.
We are an equal OPFX)rtunily organisalion and are committed to a working environment that is free from any form
of discrimination on the grounds of age, disability, gender reassignment, marriage and civil partnership,
pregnancy and maternity, race, religion or belief, sex or sexual orientation. We will make reasonable adjustments
to meet the needs of staff or pupils who are or who become disabled.
Our School is committed to safeguarding and promoting the welfare of our pupils and expects all staff and
volunteers to share this commitment.
Page 6

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
GOVERNORS. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
SIGNIFICANT ACTIVITIES
Academic achievements
The 2022-2023 academic year was another successful year for the School
continuing to deliver sound
academic results whilst investing in infrastructure lo ensure the continued provision of fi'rst-class facilities.
In addition to the high quality education the School provides for ils pupils, it continues lo offer an extensive
programme of outdoor and cfrcurricular a¢tivilies.
Sporting activities
The School continues lo develop its 5POrting provision and ensures that children participate in a range of sports
and learn different skills including athletics, chess, cricket. dance, football, gymnastics, hockey. judo, netball,
rugby, and swimming.
The School's sports facilities continued lo be used by local primary schools for swimming lessons and for
outreach programmes and sporting festivals.
Music and drama
Music opportunities for all age groups include individual music lessons, choirs, ensembles and an orchestra.
Children in all age4roups participate in a wide variety of drama activities.
The Friends of The Blue Coat School
The Friends of The Blue Coat School (Parents, Associationl have again organised a wide-ranging programme of
events, designed lo foster a sense of community within the School. These have been successfvl in raising funds
both for the School and for local charlties.
SOCIAL INVESTMENT
In order lo fulfil our aims and objectives of providing an education for boys and girls in or near the City of
Bim)ingham, the School provides bursary and scholarship awards as follows."
Bursaries
The Governors, granl-making policy is, in each accounting year, lo set aside part of the Charity's investment
income. lo maintain Foundation Places. This helps chIld￿n of merit 2nd good character for whom a funded
education would be benef￿Cial bul could not be afforded without assistan¢e.
In 2022-2023 the School provided assistance to 22 of our pupils of which 7 pupils benefited from a full remission
of fees. The Foundation Awards also assist in funding additional costs such as school trips, co-curricular
activities, uniform and other similar expenses.
Scholarships
In addition, the School awards scholarships to pupils based on either their educational or musical merit and
potential.
The Governors view our bursary and scholarship awards and our outreach programme as important in widening
access lo the education our school provides In developing our plans for this programme, we work closely with
the Heads of the schools in our community, ensuring the positive contribution lo our shared educational aims
continues. Maintaining and, where necessary, developing the fabric and facilities of the School are central lo our
strategy.
Page 7

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
GOVERNORS. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
ACHIEVEMENTS AND PERFORMANCE
Independent Schools Inspectorate IISII Inspectlon May 2021
ISI conducted a Regulatory Compliance Inspection of the School in May 2021. The School was found to be fully
compliant and no further actions were required.
An Educab'onal Quality Inspection IEQII of the School in May 2017. This Inspection related to the quality of the
pupils, academic and other achievements and to the quality of the pupils, personal development. The school was
found to be excellent in every aspect of these inspection judgements - the highesl-grade judgement lor these
inspections. As the school had been judged lo be excellent in every respect, the report did not make
recommendations, but il did make suggestions for consideration, both of which dovetailed with the school's
own priorities.
Pupll numbers
Our educational activities are carried out through two departments." Pre-Prep13-7 years old)., and Prep {7-11
years old). At the year*nd the lolal pupil number was 626.
FUNDRAISING
There are no material fundraising activities al the School wt)i¢h require disclosure under S162A of the Charities
Ac12011.
FINANCIAL REVIEW
The School's key financial objective is to ensure financial stability and continued solvency year on year so that it
can pursue its charitable aims and objectives. The Govemors have followed SORP IFRS 1021 in preparing these
financial slalemenls and the statement of financial affairs ISOFAI, balance sheet and notes are set out within.
The Schools results for the year show a surplus before investment losses and other recognised gain of £46,037
12022
surplu5 of £321,353). The principal source of funds remains school fees of £7.874,472 12022
£7,456,370) which represented 86.7Vo {2022 87.20/0) of the lotsl income of £9,078,63212022 - £8,550,3561-
Unrealised losses on our investments amounted to £297,326 {2022 - losses of £612,236) before movements on
the defined benefit pension scheme.
The investments are primarily used to fursd the bursary and scholarship award5 and olhei social investment.
INVESTMENTS
Investment activities are managed in line with the requirements of the Trustee Act 2000. The Governors have
appointed CCLA as investment manager.
The main investment objectives of the charity are".
The creation of a sufficient financial return to enable the charity to carry out ils purposes effectively and
without Interruption,.
The maintenance and enhan￿ment of the investment funds over the long term.,
To obtain a balance between capital growth and income to enable the charity lo meet current and ftjture
needs,. and lo maintain a balanced risk profile.
The average income return on the portfolio remained uncharged at 2.9Qk.
Page 8

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company limited by guarantee)
GOVERNORS. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
KEY RISKS AND UNCERTAINTIES
The Governors and Senior Leadership Team periodically review the major risks facing the charity. Risk registers
are maintained and updated al least annually. Risks are considered under the headings of strategic, operational,
financial and legaLI regulatory.
Strategic risks include the School not being seen as a positive, modern organisation and it failing to provide
education services that are attractive to parents and thus being unable lo maintain pupil numbers. These are
critical lo the charity's aims lo provide education and learning opportunities lo children in the Birmingham area.
These risks are managed by ensuring that the School provides an excellent, first-class education to every child.,
adopting proactive communication and PR slralegies", through Board scrutiny of activities,. robust financial
controls", and recruilmenl and retention of high quality teachers and support staff.
Financial risks include failure to meet income targets, particularfy from fee income and investments. School fee
increases are carefully considered in conjunction with the School's strategic plans, the budget proeess and wider
economic considerations. A conservative approach is taken lo estimating the contribution from external sources
and non-core aclivilies. In general, financial risks are managed through regular monitorin9 and review of budgets
during the financial year.
Health and Safety risks include fire safety, pool safety and failure to comply with regulatory requirements
including areas relating lo a5beslos management and water management systems. A robust Complian￿ system
has been implemented and all of these risks are subject lo close monitoring by the senior management team
and the SH&S Sub-committee. A comprehensive Risk Assessment was devised, existing policies were
amended and additional policies were written lo ensure that the risks associated with the COVID-19 pandemic
were managed. These were all regularly reviewed as Government advice and guidance was updated.
The Governors are satisfied that appropriate actions have been taken to control and mitigate the impact of risks
where possible. 11 is recognised that systems can only provide reasonable but not absolute assurance that major
risks have been adequately managed.
SUSTAINABILITY
In line with our 5 year aims as detailed in our Strategic Framework document the school has undertaken to..
Reduce our carbon footprint and move towards lower overall emissions
Ensure all future estate projects adhere to our sustsinable strategic aims
Educate and empower pupils to lake positive action on sustsinabilily initiatives.
Inslil a whole school approach lo the ¢ore principles of sustainability.. Refuse, Reduce, Reuse, Repuipose
and Recycle.
PENSION LIABILITY
The Govemors recognise the liability existing in the Pensions Trust pension scheme for non-leaching staff. The
Governors are satisfied that existing eash flows are sufficient lo meet any anlicipaled increases in costs. Pension
costs have been reported within the accounts in accordance with accounting s18ndard FRS 102. For our non-
leaching and support staff we offer a money purchase plan (defined contribution sehemel.
Page 9

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA Company limlted by guaranteel
GOVERNORS. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
RESERVES
The Governors regularly review the finances, budgets and spend against budget and undertake a lermly cash
ow analysis as part of their effective stewardship of the School.
The total funds held by the School al the end of the reporting period of £21,288,549 included £1,461.374 of
unreslricled general reserves and £4,707,329 of designated fvnds plus a pemianenl endowment of £15,124,945.
The Governors designate unrestricted funds lo fund future specific projects. The Governors are planning lo
invest substantial sums into new facilities and upgrades in the next five years, with a view lo further improving
the facilities. The Governors consider that, given the strength of the charity's balance sheet, the stable cash flow
from strong student numbers, the ongoing popularity of our School and the available funds, it will not be
necessary to seek external funding for these proiecls.
The Governors aim lo ensure that the School has sufficient resources available to support the working capital
requirements of the core activities of the School in unforeseen eireumslances, giving sufficient lime lo allow
financial policy to adapt to any new circumstances. These working capital reserves equate to approximately one
term's total expenditure, £3 million.
Restricted funds are held for the benefit of the children for supporting learning needs and co-curricular activities
as set out in the detailed accounts within this report. There was a negative balance of £5,099 al year end,
however donations of £7,500 were received a few days after the year end.
There is a Continuing programme of refurbishment, development and investment lo maintain ex￿lIent teaching
facilities for our pupils. The closing net book value of our tangible assets, propety, plant and equipment was
£6,675,585.
CHARITY GOVERNANCE CODE
The Govemors are aware of the new charity governance code issued in July 2017. Reviews continue lo be
undertaken of the guidance requirements in order lo ensufe that the charity is working in line with the code, in all
ways where it is practical lo do so.
GOVERNORS, RESPONSIBILITIES STATEMENT
The Governors (who are also directors of The Blue Coal School Birmingham Limited for the purposes of
company lawl are responsible for preparing the Governors, report and the financial statements in accordance
with applicable law and United Kingdom Accounting Slandar(Js (United Kingdom Generally Accepted Accounting
Practice).
Company law requires the Governors tQ Prepare financial statements for each financial year. Under company
law the Governors must not approve the financial statements unless they are satisfied that they give a true and
fair view of the slate of affairs of the eharitable company and the Group and of the incoming resources and
application of resources, including the income and expenditure, of the charitable Group for that period. In
preparing these fi'nancial statements, the Governors are required to..
select suitable accounting policies and then apply them consislenlly,. observe the methods and principles
in the Charities SORP IFRS 1021.,
make judgements and eslimales that are reasonable and prudent.,
stale whether applicable UK accounting Standards have been followed, subject lo any material departures
disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the
Group will continue in operation.
Page 10

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain
the charitable company and the Group's transactions and disclose with reasonable accuracy at any lime the
financial position of the charitable Group and enable them to ensure that the financial stslemenls comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the
Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
DISCLOSURE OF INFORMATION TO AUDITOR
Each of the persons who are Governors al the time when the Governors, report Is approved has confirmed Ihal..
so far as that Governor is aware, there is no relevant audit information of which the eharilable Group's auditor is
unaware, and
that Governor has tsken all the steps that ought to have been taken as a Governor in order to be aware of any
relevant audit information and lo establish that the charitable Group's auditor is awaTe of that inftirmation.
AUDITORS
Crowe U.K. LLP has indicated its willingness to be reappointed as stslutory auditor.
Approved by order of the members of the board of Govemors and signed on their behalf by..
Mrs K Gilmore DPSN RGN HV
Chair of Governors
Dale..
Page 11

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company Ilmlted by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM
LIMITED
Opinion
We have audited the financi81 statements of The Blue Coat School Birmingham Limited (the 'charilable
¢omp2ny'l foT the year ended 31 August 2023 which comprise the Statement of financial aclivilies, the Balance
sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practi￿1.
In our opinion the financial statements..
give a true and lair view of the stste of the charitable company's affairs as al 31 August 2023 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 IUKI IISAS IUKII and applicable
law. OLJr re5ponsibililies under those standards are further described in the Auditor's responsibilities for the audit
of the fin8n¢ial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Concluslons relating to going concern
In audrting the financial slatemenls, we have concluded that the Govemors. 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 lo events or
conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to
continue as a going concern for a period of at least ￿e1ve months from when the financial slalemenls are
authorised for Issue.
Our responsibilities and the responsibilities of the Governors with respect lo going Concern are described in the
relevant sections of this report.
Page 12

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company Ilmited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM
LIMITED ICONTINUEDI
Other Information
The other information comprises the information included in the Annual report other than the financial slalemenls
and our Auditor's report thereon. The Governors are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the other information and, except to the
extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our
responsibility is lo read the other information and, in doing so, eonsider whether the other information is
materially inconsislenl with the financial statements or our knowledge obtsined in the course of the audit, or
otherwise appears lo be materially misstated. If we identify su¢h material inconsistencies or apparent m2terial
misslalements, 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
misslalemenl of this other information, we are required to report that fact.
We have nothing to report in this fegard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Governors, Report including the Strategic Report for the financial year for
which the financial ststemenls are prepared is consislenl with the financial statements.
the Governors, Report and the Strategic Report have been prepared in a¢¢ordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding ol the charitable company and its environment obtsined in the
course of the audit, we have not identified material misstalemenls in the Governors. Report including the
Strategic Report.
We have nothing lo report in respect of the following matters in relation lo which Companies Act 2006 requires
us to report lo you if, in our opinion..
adequate aecounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us., or
the financial slalemenls are not in agreement with the accounting records and returns., or
certain disclosures of Govemors, remuneration specified by law are not made., or
we have not received all the infomialion and explanation5 we require for our audit.
Responsiblllties of trustees
As explained more fully in the Governors, fesponsibililies statement, the Governors (who are also the diredors of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Governors determine is necessary to enable the preparation of financial statements that are free from matenal
misstatement, whether due lo fraud or error.
In preparing the financial statements, the Governors are responsible for assessing the charitable company's
ability lo eonb'nue as a going concern. disclosing. as applicable, matters related lo going Concern and using the
going concern basis of a¢eounling unless the Governors either intend to liquidate the charitable company or to
cease operations, or have no realistic alternative but to do so.
Page 13

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM
LIMITED ICONTINUEDI
Auditor's responsibilities for the audit of the financlal statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due lo fraud or error, and lo issue an Auditor's report that includes our
opinion. Reasonable assurance is a high level of assuran￿, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always delect a material misslalemenl when it exists. Misstalemenls 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 slalemenls.
Irregularities, includin9 fraud, are instances of r¢on<ompl1an￿ with laws and regulations. We design pro¢edures
in line with our responsibilities, outlined aljove, lo delecl material misslatemenls in respect of irregularities,
including fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is
detailed below..
Vve obtained an understanding of the legal and regulatory frameworks within which the charitable company
operates, focusing on those laws and regulations that have a di￿¢1 effect on the determination of material
amounts and disclosures In the financial slalements. The laws and regulations we considered in this context
were the Companies Act 2006, tsxalion legislation, together with the Charities SORP IFRS 1021. We assessed
the required compliance with these laws and regulations as part of our audit procedures on the related financial
ststement items.
In 8ddition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements bul ¢omplian¢e with which might be fundamentsl lo the charitable company's ability lo
operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within
the charitable company for fraud. The laws and regulations we considered in this context for the UK operations
were The Education Ilndependenl School Slandardsl Regulations 2014, General Data Protection Regulation
IGDPRI. Health and safety legislation, and Employment legislation.
Auditing standards limit the required audit procedures lo identify non-compliance with these laws and regulations
to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial slalemenls from Irregularities, Including fraud.
to be within the timing of recognition of donation and ancillary income. procurement processes for significant
capital projects and the override of controls by management. Our audit procedures lo respond lo these risks
included enquiries of management, and the Finance Committee about their own identification and assessment of
the risks of irregularities, sample testing on the posting of joumals. reviewing accounting eslimales for biases,
reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate. Ofsled
and reading minutes of meetings of those charged with governance.
Owing to the inherent limitstions of an audit, there is an unavoidable risk that we may not have detected some
material misslatemenls in the financial ststements, even though we have properly planned and performed our
audit in accordance wrth auditing standards. For example, the further removed non-compliance with laws and
regulations lirregulariliesl is from the events and transactions reflected in the financial statements, the less likely
the inherently limited procedures reqLJired by auditing standards would identify it. In addition, as with any audit,
there remained a higher risk of non4eteclion of irregularities, as these may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-
complian￿ and cannot be expected lo delect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Rèporting Council's website at". www.frc.o
.ukJaudilorsres
nsibililies. This description forms part of our
Auditorfs report.
Page 14

## **THE BLUE COAT SCHOOL BIRMINGHAM LIMITED** 

## **(A company limited by guarantee)** 

## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUE COAT SCHOOL BIRMINGHAM LIMITED (CONTINUED)** 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Kerry Brown (Senior statutory auditor)** 

for and on behalf of 

**Crowe U.K. LLP** Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands 869 2DG 

Date: 12 February 2024 

Page 15 



THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 AUGUST 2023
Unrestricted
funds
2023
Restricted Endowment
funds
funds
2023
2023
Totsl
funds
2023
Total
funds
2022
Note
Income and endowments
from:
Donations and legacies
Charitable activities..
School fees
Ancillary trading income
Investments
8.800
31.464
40,264
46,687
7,874,472
633.851
530.045
7.874,472
633,851
530,Q45
7,456,370
567, 139
480,896
Total income and
endowments
9,047,168
31,464
9.078.632
8,551,092
Expenditure on..
Raising funds..
Financing costs
Charitable aclivilies..
Education and grant making
18331
1833)
923
8.831,671
41.586
160.171
9.033A28
8,228,816
Totsl expenditure
8,830,838
41,586
160,171
9,032,595
8,229, 739
Net Incomellexpenditurel
before net losses on
investments
216,330
164,7971
110,1221
1160,1711
1232.529)
46.037
1297.326)
321.353
(612,236)
Nel losses on investments
Net in¢omellexpenditure)
Transfers be￿een funds
Net movement in funds
before other recognised
gains
151,533
115.501}
110,1221
1392,700}
15,501
1251,2891
(290, 883)
21
136.032
110.1221
1377.1991
1251,289)
(290,883)
Other rècognised gains:
Actuarial gains on defined
benefit per¢sion schemes
27
64
4T8
Net movement in funds
136,096
110.1221
1377.1991
{251.2251
(290,405)
Pa9e 16

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
(CONTINUED}
FOR THE YEAR ENDED 31 AUGUST 2023
Unrestricted
funds
2023
Restrlcted Endowment
funds
funds
2023
2023
Total
funds
2023
Tot81
funds
2022
Note
Reconciliation of tunds:
Total funds brought forward
Net movement in funds
6,032.607
136,096
5,023
110.1221
15.502,144 21.539.774
{377,1991
1251,2251
21,830,179
(290,405)
Total funds carried
for•iard
6,168.703
15,0991
15.124,945 21.288.549
21,539,774
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 20 to 50 fomi part of these financial statements.
Page 17

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
REGISTERED NUMBER.. 08502615
BALANCE SHEET
AS AT 31 AUGUST 2023
2023
2022
Note
Flxed assets
Tangible assets
Investments
Investment propety
13
15
14
6,675,585
13,235.519
1,415.000
6,823.585
13.532.846
7,415, 000
21,326,104
21, 771,431
Current assets
Debtors
Cash al bank and in hand
16
466.540
1.563.883
327,274
1,368,489
2,030,423
1,695, 763
Creditors.. amounts falling due within one
year
17
12.066,2671
{1.921.300)
Net current Iliabilitiesl l assets
135,844}
{225.537)
Total assets less current Ilabilities
21.290.260
21.545.894
Creditors.. amounts falling due after more
than one year
18
{1,7111
{6, 120)
Totsl net assgts
21,288.549
21,539,774
Charity funds
End()wmenl funds
Restricted funds
Unreslncted funds
21
21
15,124,945
{5,0991
6,168.703
15,502, 144
5.023
6.032.607
21
Total funds
21,288.549
21.539. 774
The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements were approved and aulhorised for issue by the Governors and signed on their behalf
by..
Mrs K Gilmore DPSN RGN HV
Dale..
The notes on pages 20 10 50 fomi part of these financial statements.
Page 18

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2023
2023
2022
Note
Cash flows from operating activities
Nel cash used in operating activities
23
1102,3651
617.255
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tsngible fixed assets
Purchase of tangible fixed assets
Purchase of investments
530,045
1,950
1234,2361
480,896
(997,091)
(500,000)
Net cash provided byl{used in} Investing activities
297,759 11,016,195)
Change in cash and cash equivalents in the ygar
Cash and cash equivalents at the beginning of the year
195,394
1398,9401
1,767,429
1,368,489
C3$h and cash gquivalents at the end of the year
24
1,563,883
1,368,489
The notes on pages 20 10 50 form part of these financial statements
Page19

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
General information
The company is a company limited by guarantee Iregislered number 085026151, which is incorporated
and registered In England and Wales Its charity registration number Is 1152244. The registered office and
principal place of business is The Blue Coat School Birmingham, Somersel Road. Edgbaslon,
Birmingham, B17 OHR.
The principal activity is lo provide a day school for boys and girls near the City of Birmingham.
In June 2018 the Charity Commission issued a Diredion linking The Blue Coat School Birmingham
Limited with the charity The Blue Coal School Bitmingham (charity iegislration number 1152244-11. This
eharity holds the charitable groups endowment assets.
The members of the Company are the Governors named on page 1. In the event of the company being
wound up, the liability in respect of the guarantee is limrted to £1 per member of the company.
Accountlng pollcles
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the ChaTlties SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006.
The Blue Coal School Birmingham Limited meets the definition of a public benefit entity under FRS
102. Assets and liabilities 8re initially recognised at historical cost or Iransaelion value unless
otherwise stated in the relevant aceounling poliey.
2.2 Going concern
The financial statements have been prepared on a going concern basis as the Iruslees believe that
no material uncertainties exist. The Iruslees have considered the level of funds held and the
expected level of income and expenditure for 12 months from authorising these financial slatemenls.
The budgeted income and expenditure is sufficient with the level of resetves for the charity lo be able
lo continue as a going concern.
2.3 Fund accounting
General funds are unreslricled funds which are available for use al the discretion of the Governors in
furtherance of the general objectives of the Company and which have not been designated foi other
purposes.
Designated fvnds comprise unreslricled funds that have been sel aside by the Governors for
particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Reslricled funds are funds which are to be used in accordan￿ with speeific restrictions imposed by
donors OT which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specifie fund. The aim and use of each restricted
fund is set out in the notes lo the financial slalemenls.
Page 20

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting pollcies {continuedl
2.3 Fund accounting Icontinuedl
Endowment funds represent those assets which must be held permanently by the charity, principally
investments and deposits. Income arising on the endowment funds can be used in accordance with
the object of the charity and is included as unrestricted income. Any capital gains or losse$ arising on
the investments form part ol the fund. Investment management charges and legal advice ￿lats'ng to
the fund are charged against the fund. The endowment funds are all held by the subsidiary charity
The Blue Coat School Birmingham.
2.4 Income
All incoming reSoUr￿S are included in the Statement of Financial Aelivilies when the charity is legally
enlilled lo the income after any performance conditions have been mel, the amount can be measured
reliably and it is probable that the income will be received.
Donations and legacies
For donations lo be recognised the charity will have been notified of the amounts and the settlement
dale in writing. If there are conditions attached lo the donation and this required a level of
perforrnan￿ before entitlement can be obtained, then income is deferred until those Conditions are
fully met or the fulfilment of those conditions is within the control of the charity and it is probable that
they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when
their economic benefit is probable. il can be measured reliably, and the charity has ¢onlrol over the
item. Fair value is determined on the basis of the value of the gift lo the charity. For example, the
amount the charity would be willing lo pay in the open market for such facilities and services. A
corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer lime in line with the SORP IFRS 1021.
Fixed asset gifts In kind are recognised when receivable and are included at fair value. They are not
deferred over the life of the asset.
For legacies, entitlement is the earfier of the charity being notified of an impending distribution or the
legacy being received. At this point income is recognised. On occasion legacies will be notified lo the
charity however il is not possible to measure the amount expecled lo be dislributed. On these
occasions, the legacy is treated as a contingent asset and disclosed.
Fees and SiTmilar Income
Fees re￿IV8b1e and charges for seNices and use of premises are accounted for in the period in
which the service is provided. Fees receivable are slated after deducting allowances, scholarships
and other remissions 9ranled by the school froni its unreslricled funds. Where income Is received in
advan￿ it is treated as deferred income and included within creditors.
Incomè fmm trading activities
Income from trading activities includes income earned from fundraising events and tradin9 activities
lo raise funds for the charity. Income is received in exchange for supplying services in order lo raise
funds and is recognised when entitlement has occurred.
Page 21

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting pollcles Icontlnued)
2.4 Income Icontlnuedl
Investment income
Investment income is earned through holding assets for investment purposes such as shares and
property. It includes dividends, interest and rent. Where it is not practicable lo identify investment
management costs incurred within a scheme with reasonable accuracy the investment Income is
reported nel of these costs. It is included when the amount can be measured reliably. Interest income
is recognised using the effective interest method and dividend and rent income is recognised as the
charity's right lo re￿1ve payment is established.
Other income 1S Tecognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
2.5 Expenditure
All expenditure is accounted for on an accruals b8sis and has been classified under headings that
aggregate all costs related lo category. Expenditure is reeognised where there is a legal or
onstructive obligation lo make payments lo third parties, il is probable that the settlement will be
required and the amount of the obligation can be measured reliably. 11 is categorised under the
following headings..
Costs of faising funds.,
Expenditure on charitable activities.,
Other expenditure represents those rtems not falling into the categories above.
Charitable expenditure comprises those costs incurred by the chantable group in the delivery of
activities and se￿iceS for ils beneficiaries.
Governance costs include those costs associated with meeting the conslilulional and slatulory
requirements of The Blue Coat School Birmingham Limited and ils subsidiaries, this includes audit
fees.
All costs are allocated be￿een the expenditure categories of the Slalemenl of Financial Activities on
basis designed lo reflect the use of the resource. Costs relating to a particular activity comprise
both costs that can be allocated directly lo such actsvities and those costs of an indirect nature
ne￿$sary lo support them.
Expenditure Is recognised once there is a legal or constructive obligation lo transfer economic benefit
to a third paty, Il is probable that a ttansfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that activity. Shared costs which contribute lo more than one activity and support costs which are
not attributsble lo a single activity are apportioned between those activities on a basis consislenl with
the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Company lo raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charilable trading.
Page 22

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
A¢¢ounting policios Icontinuedl
2.5 Expenditure {continued}
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Company's objectives, as well as any associated support eosls.
2.6 Tanglble fixed assets and depreciation
Tangible fixed assets costing £1,000 or more are capitslised and recognised when future economic
benefits are probable af)d the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulaleé depreciab'on and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be
included in the measurement of cost.
Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straighl-line method.
Depreciation is provided on the following bases..
Freehold propety
Fixtures and equipment
Motor vehicles
Computer equipment
1.50/0- 20.kn Straight Line
100/0 20°/o Slraighl Line
20Q/o Slraighl line
33.3°k Straight Line
Depreciation is not charged on freehold land.
2.7 Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value
recognised in the heading 'Gainslllossesl on investments, in the Statement of financial activities. No
depreciation is charged on Investments properties in accordance with the Charities SORP.
2.8 Investrnents
Fixed asset investments are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured al fair value al the Balance sheet date, unless the value
cannot be measured reliably in which case il is measured al cost less impairment. Investment gains
and losses, whether realised or unrealised. are combined and presented as 'GainsllLossesl on
investments, in the Statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.9 Operatlng leases
Rentsls paid under operating leases are charged lo the Slatemenl of financial activities on a straight-
line basis over the lease term.
Page 23

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting policies Icontinuedl
2.10 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid nel of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.12 Liabilities and provisions
Liabilitses are recognised when there is an obligation at the Balan￿ sheet date as a result of a past
event, il is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anlicipales il will pay to sellle the debt or
the amount il has received as advanced payments for the goods or services it musl provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability. The
unwinding of the discount is recognised in the Ststement of financial activities as a finance cost.
2.13 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially recognised at transac110n value and subsequently
measured al their settlement value with the exception of bank loans which are subsequently
measured at amorb'sed cost using the effective interest method.
2.14 Taxation
The Company is ¢onsidered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable comp8ny for UK corporation tax purposes.
Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively lo charitable purposes.
2.15 Pensions
Retirement benefits lo teachers employed by the school are provided by the Teachers, Pension
Scheme I'TPS'I. This is a defined benefit scheme. The TPS is an unfunded scheme and
contributions are calculated so as lo spread the costs of pensions over employees. working lives with
the school in such a way that the pension costs is substantially level percentage of current and future
pensionable payroll. The contributions are determined by the Government Actuary on the basis of
quadrennial valuations using a prospective unil credit method. As slated in note 26, the TPS is a
mulli-employer scheme and there is insufficient information available to use defined benefit
accounting. The TPS is therefore Irealed as a defined contribution scheme for accounting purposes
and the contributions recognised in the period lo which they relate.
Page 24

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Crltical accounting estlmates and areas of Judgement
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstsnces.
Critical accounting estimates and assumptions..
The Company makes eslimales and assumptions concerning the future. The resulting accounting
estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have 8 significant risk of causing a material adjustment lo the carrying amounts of
assets and liabilities within the next financial year are discussed below.
In preparing these financial statements, the Governors have made the following judgements..
Investment properties
Investment properties are valueol on the basis of market value of the freehold interest with vacant
possession al the year end.
Recoverability of trade debtors
Trade and other receivables are recognised lo the extent that they are judged reeoverable. Management
reviews are performed lo estimate the level of resources required for Irrecoverable debt. Provisions are
made specifically against invoices where recoverability is uncertain.
Management makes allowan￿ tor doubtful debts based on an assessment of the recoverability of
debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the
carrying amounts may not be recoverable. Management specifi'cally analyse historical bad debts, current
economic trends and changes in payment terms when making a judgment lo evaluate the adequacy of the
provision for doubfful debts. Vvhere the expectation Is different from the onginal estimate, such difference
will impact the carrying value of debtors and the charge in the Statement of financial activities.
Page 25

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA eompany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Income from donations and legacies
Unrestrieted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Donations
8,800
31,464
40,264
46,687
Total 2023
8,800
31.464
40,284
46,687
Totèl 2022
8,000
38.687
46,687
Charitsble activities - School fv8s
2023
2022
Gross luitson fees
Less." Awards, scholarships and bursaries from unrestricted funds
Less.. Fee discounts
8.358.551
{340.5861
{143,4931
7.957,554
(348,317)
(146,867)
7,874,472
7,456,370
Awards, scholarships and bursaries were paid lo 51 pupils 12022 45 pupils). Within this were means
lesled bursaries lotalling £246,813 paid lo 22 pupils12022 £272,962 to 24 pupils).
The total income from school fees is unrestricted in both years.
Charitable activities - Other ancillary trading income
2023
2022
Exlra<urricular activities
Registration fees
School trips
Other income
285,737
10,200
221,819
116,095
271,534
18,200
159,070
118.335
633.851
567. 139
The total ancillary trading Income Is unreslricled in both years.
Page 26

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limitgd by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Investment Income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Rental income
Dividend income
Deposit account interest
85,121
386,844
58,080
85.121
386,844
58.080
88,057
383,829
9,010
Total 2023
530,045
530.045
480,896
Total 2022
480.896
480.896
Expenditure on raising funds - Financing costs
Unrestricted
tunds
2023
Total
funds
2023
Total
funds
2022
Bad debt lincomellcosls
Property management fees
13,4991
2,666
13,499)
2,666
(1.626)
2.549
Total 2023
18331
18331
923
Total 2022
923
923
Page 27

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Analy$i$ of ¢xp¢nditure on charitable activities
Summary by fund type
Unrestricted Restrlcted Endowment
funds
funds
funds
2023
2023
2023
Total
2023
Total
2022
Teaching
Catering
Premises
Support and governance
4,902,901
576,906
2,076,394
1,275,470
41,386
160,171
5,104,458
576,906
2,076,594
1.275.470
4, 743, 157
581,891
1.803.571
1, 100, 197
200
Total 2023
8,831,671
41,586
160,171
9,033.428
8,228.816
Total 2022
8,056,818
51.808
120, 790
8,228.816
Summary by expendlture type
Staff costs Depreclation Other costs
2023
2023
2023
Total
2023
Total
2022
Teaching
Catering
Premises
Support and goveman
4,142,646
216,928
744,884
576,906
1,514,498
471,651
5.104,458
576,906
2,076,594
1,275,470
4,743, 157
581, 891
1,803, 571
1.100,79T
414.265
786,372
147.831
17.447
Total 2023
5,343,283
382.206
3,307,939
9.033,428
8,228,876
Total 2022
4.840,929
349.545
3.038.342
8,228,816
Page 28

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
10. Auditorfs remunerotion
2023
2022
Fees payable to the Company's auditor for the audit of the Company's
annual accounts
21,400
16.500
Fees payable lo the Company's auditor in respect of".
Accountancy services
3.350
3, 725
11. Staff costs
2023
2022
Wages and salaries
Social security costs
Contribution lo defined contribution pension schemes
4,206.780
407,913
728,590
3.844,282
378. 166
618.481
5.343.283
4,840,929
During the year there were redundancy or leTminalion payments made which amounted lo £NIl 12022
£Nill. There was nil 12022 £Nill outstanding at the year end.
The average number of persons employed by the Company during the year was as follows..
2023
No.
2022
No.
Teaching staff
Administralivelsupport staff
71
70
56
51
122
126
Page 29

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
11. Stsff costs {¢ontinued)
The number of employees whose employee benefits (excluding employer pension costs) ex￿eded
£60,000 was..
2023
No.
2022
No.
In the band £60,001- £70,000
In the band £90,001- £100,000
In the band £110,000- £120,000
In the band £160,001 £170,000
In the band £171,000- £180,000
The total amount of employee benefits received by key management personnel is £782,504 to 7 staff
members12022- £797,165, to 8 staff membersl.
12.
Governors. remuneration and expènses
During the year. no Governors received any remuneration or other benefits (2022- £NIL).
During the year ended 31 August 2023, expenses tolalling £676 were reimbursed or paid directly lo 3
Governors (2022 - £1.024 to 3 Governo￿) .Expenses related lo courses, accommodation and travel
expenses.
Page 30

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
13. Tanglble fixed assets
Freehold
Fixtures
school
and Computer
premises equipment equipment
Assets
School
under
Minibus construction
Totsl
Cost or valuation
At 1 September
2022
Additions
Disposals
9.805,435
15.499
200.807
749.475
10,644
161,382
133,760} {122.2331
65,499
10.821,216
234,236
1155,9931
46.711
At 31 August 2023
9.820,934
177,691
788.624
65,499
46,711 10.899A59
Depreciation
Al 1 September
2022
Charge for the year
On disposals
3.139,498
301,973
171.274
654,688
8,423
58,710
33,760} {122,2031
32,171
13,100
3,997.631
382.206
11S5,9631
At 31 August 2023
3,441.471
145,937
591.195
45,271
4,223,874
Net book value
Al 31 August 2023
6,379,463
31,754
197,429
20.228
46.711
6,675.585
At 31 August 2022
6,665.937
29,533
94, 787
33,328
6, 823,585
Page 31

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
14. Investment property
Freehold
investment
property
Valuation
Al 1 September 2022
1.415.000
Al 31 August 2023
1.415.000
Comprising".
2023
2022
416 Birmingham Road. Wylde Green
119-120 Glover Street
256 Harborne Road, Edgbaston
435,000
130,000
850,000
435,000
130,000
850,000
1,415,000
1,415,000
The investment property consists of buildings held for investment purposes and are not used in the
School's own aclivilies, both residential and industrial propety are held and aTe let out on the open
market.
The Properties located al 416 Birmingham Road, and 119-120 Glover Street were revalued by Burley
Browne Chartered Surveyors in October 2022.
The property located al 256 Harborne Road were revalued by Fishers IHarboTnel Limited in Novembef
2022.
The Governors believe that the value of the investment properties al the year end d￿S not materially
differ from the value obtained al the dates listed above.
Page 32

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
15. Flxed ass9t investments
Investments Investments
In subsidiary
and
company
deposits
Total
Cost or valuation
Al 1 September 2022
Revaluations
100
13,532,746 13.532,846
1297,3271
1297.3271
Al 31 August 2023
100
13.235,419 13.235.519
Net book value
Al 31 August 2023
100
13,235,419 13.235,519
At 31 August 2022
foo
73,532,746
13,532,846
Investments and deposits ¢omprlse:
2023
2022
Charities Official Investment Fund - Income shares
13,235.419 13,532, 746
Principal $ubsldlaries
The following was a subsidiary undertaking of the Company..
Company Registered office or Principal activity Class of Holding
number
principal pla¢e of
shares
business
Name
BCS Enterprises Limited 09109064 The Blue Coal School Dormant in
Birmingham
current year
Somersel Road
Edgbaston
Birmingham
B17 OHR.
Ordinary
1009
Page 33

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
15. Flxed asset Investments Icontinuedl
The financial results of the subsidiary for the year were..
Name
Net assets
BCS Enterprises Limited
100
16. Debtors
2023
2022
Trade debtors
Other debtors and accrued income
Prepayments
210.710
146,627
109,203
195, 142
70, 880
61.252
466.540
327,274
An impairment loss of £2,66712022 - £6,165) was recognised against fee debtors.
17. Credltors: Amounts falling due wlthln one year
2023
2022
Trade creditors
Other taxation and social security
Fees in advance Inole 191
Deposits (note 201
Pension liability
Accruals and other creditors
452,009
98,189
915,611
191,650
4,716
404,092
402,207
87.913
725, 780
187,850
4, 716
512,834
2.066,267
1,921.300
18. Credltors: Amounts falling due after more than one year
2023
2022
Pension liability
1,711
6,120
Page 34

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
19. Fees In advance
Movement of fees in advance..
2023
2022
Balance at 1 September
New advance fees received
Amounts ulilised in payments
725,780
915,611
1725,7801
668,233
725, 780
(668,233)
Balance as at 31 August
915,611
725.780
20. Fee deposits
Movement of fee deposits..
2023
2022
Balance at 1 September
New deposits received
Deposits ulilised
187,850
34,500
{30,7001
185,400
36,000
(33.550)
Balance as at 31 August
191,650
187.850
The Governors have reviewed the terms of the deposils which are held by the school. Under normal
circumstances these will be repaid over future years when the pupils complete their education with the
school, however pupils can leave at any csate. Therefore, the school has no conditional right lo relain the
deposits for at least 12 months after the reporting date, in line with the requirements of FRS 102. As
such, the balance of all deposits held al 31 August 2023 have been included within creditors due within
one year.
Page 35

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company1Smlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
21. Statement of funds
Statement of funds - eurrent year
Balance at 1
September
2022
Balance at
Gainsl 31 August
{Lossesl
2023
Transfers
Inllout}
Income Expenditure
Unrestricted
funds
Designated
funds
Extraordinary
repair fvnd
Loppylugs &
Barbara
Morrison Trust
School nursery
and four
classroom block
575,545
104,499
680.044
8,000
8,800
116,8001
2,399.783
1.085.000
263.443
120,000
120.000
372.819
2,519,783
1.205,000
302,502
New build fund
Foundation fund
1333.7601
Old Scholar
Donation
1.326
11,3261
4.333,097
8,800
1351.8861
717,318
4,707,329
Balance at 1
September
2022
Balance at
Giinsl 31 August
(Losses)
2023
Transfers
inlloutl
In¢ome Expenditure
General funds
General Funds -
all funds
1,699,510
9,038,368 18,478,952) 1732,819}
{64,733} 1.461.374
Total
Unrestricted
funds
6,032,607
9,047,168 18,830,838}
{15,501}
{64.733} 6.168.703
Endowment
funds
Endowment
Funds - all funds 15,502,144
1160,1711
15,501
1232,5291 15,124,945
Page 36

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
21. Ststement ot funds Icontlnued}
Balance at 1
September
2022
Balance at
Gainsl 31 August
{Lossesl
2023
Transfers
Inlloutl
Income Expendituro
Restricted
funds
Diana Willis
memorial pryze
Limoges Trust
John Avins Trust
Grand piano
Sir John Saville
Trust
Reginal Farrar
Fund
Association ol
Friends BCS
Hatfield Fund
Chris Byrne
Memorial Prize
Fund
King Fund
Girls Cricket
Fund
165
165
{7,3131
6,924
2,000
114,2371
14,9391
12001
2.939
200
18,000
{18,0001
506
506
413
530
4,000
40
13,9551
12551
458
315
120
120
150
150
500
500
5.023
31,464
141,5861
{5,0991
Total of funds
21,539.774
9,078,632 19,032,595)
{297,2621 21,288,549
Page 37

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
21. Statement of funds Icontinuedl
Statement of funds- prioryear
Balance al
I September
2021
Balance al
37 August
2022
Transf815
in/(oul)
Gain
(Losses)
Income Expenditure
Unrestricted
funds
Deslgnated
funds
Extraordinary
repair fund
Loppylugs &
Barbara
Morri50n Trust
School nursery
and four
classroom block
New build fund
1,414,311
(838, 766)
575,545
8,000
8,000
2,279. 783
965.(XJO
220.512
720.000
120.000
315,893
2,399, 783
1,085.000
263,443
Foundation fund
(272,962)
Old Scholar
Donation
1,326
1,326
4.880, 932
8, 000
{272,962J
(282,873)
4,333, 097
Ggneral funds
General Funds -
all funds
2, 720,052
8,504,405 {7, 784, 779)
{488,583)
(651,585)
1,699,510
Total
Unrestricted
funds
7,000,984
8,512,405 (8.057, 741)
(777,456)
(651.585) 6,032, 607
Page 38

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
21. Statement of funds Icontinuedl
Endowment
funds
Endowment
Funds- all funds
14,811, 951
(120, 190)
771,456
39,827 15,502,144
Balance 81
1 September
2021
Balance 81
37 August
2022
Transfers
in/(oulJ
Gain
(Losses)
Income Expenditure
Restricled
funds
Diana Willis
memorial pryze
Limoges Trust
Chapel fund
John Avins Trust
Grand piano
Sir John S8ville
Trust
165
7,019
1,214
939
165
5,000
(72,019)
(1,214)
2,000
2,939
200
800
(600)
6,892
550
(7,442)
Reginal Farrar
Fund
Association of
Friends BCS
King Fund
Haffield Fund
Chris Byrne
Memorial Prize
Fund
300th
Celebration
Funds
506
89
2,250
50
230
(1, 926)
413
150
100
300
530
120
120
28,607
(28, 607)
18,144
38, 687
(51, 808)
5,023
Total of lunds
21,830,779
8,551,092 (8.229, 739)
(611, 758) 21, 539, 774
Page 39

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guaranteg)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
21. Summary of funds (continued)
DESIGNATED FUNDS
Extraordinary repair fund - In accordance with the terms of the charity commission the Governors had
established a fund by 1 September 2009 to provide for the extraordinary repair, improvement and
rebuilding of the school's property. The Governors have made a transfers in of £120.000 12022
£120,000) this year lo the fund lo finance repairs and transfers out of £15,501 12022- £958,766) to fund
capital works on the chapel and the new Scien￿ building
Loppylugs and Barbara Morrison Charitable Trust This donation is available for use al the
Headmaster's discretion taking onto account the donors. Interests.
School Nursery and Four£lassroom block - Fund set aside by the Governors following the charity
ommission approval of the use of the £2m of the endowment fund for the development works. This is a
apital fund and the future depreciation of the assets constructed will be charged lo it. The Governors
have made a transfers of £120,00012022 - £120,000) this year lo the fund.
New Build Fund - The Governors h8ve agreed lo set aside a sum of money annually to reflect the use of
endowment funds which were expended on the School Nursery and Four Classroom Block. The
Goveinors have made a transfers of £120,00012022 - £120.0001 this year to the fund.
Foundation fund - Designated - The Govemors have agreed to set aside annually a sum equal lo not
less than 50/0 of the nel fee income of the previous financial year. The amount set aside is lo be applied in
the provision of places at the school for children of merit and good character who are in need of financial
assistance, and supporting slate sector schools in need of additional support to enhance leaching and
learning. In the current year the amounts sel aside tolalled £372,819 12022 £393,264) and amounts
advanced to pupils tolalled £255,520 12022 £272,230). The value of support provided to slate sector
schools amounted to £78,24012022'. £Nill.
Old Scholar Donation - Donation in memory of Mr Emesl Jones lo be spent as seen fil.
ENDOWMENT FUNDS
The Permanent endowment fund has lo be held by the Blue Coal School Bimiingham Icharily number
1152244-11 indefinitely under the Scheme approved by the Charity Commission on 12 March 1986. There
is no power to convert the capital into income.
The transfer relates lo addition5 on endowed property.
Page 40

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
21. Summary offunds (continued)
RESTRICTED FUNDS
Dlana Wills memorlal prize - This prize fund was sel up a former teacher to reward a pupil's reading
ability. The fund was to be used lo provide one book prize a year.
Limoges Trust - Grants received to further the development of musical drama within the school. Thi5
fund is temporarily in deficit al year end however post year end funds have received to clear this.
The John Avins Trust - Fund provided for equipment and fesources for the benefit of g￿fted children in
need of financial support within the school.
Grand Piano
Funds provided by the Birmingham Community Foundation and the Loppylugs and
Barbara Morri50n Charitable Trust to purchase 3 grand piano. This is a capital fund and the future
depreciation of the asset will be charged to it.
Slr John Saville Trust - Funds provided by Mr John Saville towards the continued support of the young
people of Birmingham.
The Reginald Farrar Fund - Funds provided by Mr Reginald Farrar towards the advancement of the
mathematics department.
Association of Friends - Funds raised by the parents and friends of The Blue Coat School to Pfovide
additional equipment. resources and entertainment for the pupils.
Hatfield fund - Donation towards bursaries.
Chris Byrne Memorial Prize Fund - To fund a book prize at annual prize giving.
King Fund - Donation toward the bursaries.
Girls Cricket Fund - Funding received to promote Girls Cricket al the School.
Chapel Fund - Donations provided for the equipping of the School Chapel.
300th Celebration Fund Funds generated during the Ter¢enlenary celebrations, raising funds for
chapel renovations.
Page41

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
21.
Summary of funds (continued)
Summary of funds - current year
Balance at 1
September
2022
Balance at
Gainsl 31 August
(Losses)
2023
Transfers
inlloutl
Income Expendlture
Designated
funds
General funds
Endowment
funds
Reslricled funds
4,333,097
1,699.510
8,800
1351,8861
9,038.368 18,478.9521
717,318
1732.819)
4,707,329
{64,7331 1,461,374
15,502.144
5.023
1160,1711
{41,5861
15.501
1232.5291 15.124,945
15,0991
31,464
21,539,774
9.078,632
{9,032,5951
1297,2621 21,288,549
Summary of funds- prior year
BalanGe at
I September
2021
Balan￿ at
31 August
2022
Transfers
in/(outJ
Gain
(Losses)
Income Experpditu
Designated
funds
General funds
Endowment
fijnds
Restricted funds
4,880, 932
2, 120,052
(272.962)
8,504,495 (7, 784, 779)
(282,873)
(488,583)
4,333.097
1,699,510
(651,585)
14,811,051
18.144
(120, f 90)
(51.808J
771,456
39,827 15,502, 144
5,023
38.687
21,830,179
8, 557,092 (8,229. 739)
(611. 758) 21.539, 774
Page 42

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A Company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
22. Analysis of net assets be￿een funds
Analysis of net assets between funds - current yoar
Unrgstricted Restricted Endowment
funds
funds
funds
2023
2023
2023
Total
funds
2023
Tangible fixed assets
Fixed asset inve51menls
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
3.017,949
3,183,210
3,657,636
6,675.585
10,052,309 13,236,519
1,415,000
1,415,000
1,995.423
12,031.2671
1,995,423
{2.026,1681
11,7111
15,0991
Total
6,168,703
15,0991 15,124.945 21.288.549
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Restricted Endowment
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Fixed asset Investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
3.021,079
3.248, 908
200
3,802.306
6,823,585
10,284,838 13.532,846
1,415,000
1.415,000
1.695.763
(1,921,300)
(6, 120)
1,690,940
(f,921,300J
(6, 120)
4,823
Totsl
6.032, 607
5,023 15.502,144 21.539,774
Page 43

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A ¢ompany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
23.
Reconciliation of net movement in funds to net cash flow from operating activities
2023
2022
Nel expenditure for the year las per Ststement of Financial Acliviliesl
1251,289}
(290,883)
Adjustments for:
Depreciation charges
{Gainslllosses on investments lincluding investment property)
Dividends, interests and rents from investments
Profit on the sale of fixed assets
Increase in debtors
Increase in creditors
Pension scheme
382,206
297,326
1530,0451
11,9201
{139,2661
140,559
349.545
612,236
(480,896)
(106,460)
533.235
478
Net cash provlded byllused Inl operating actlvities
{102.3651
617.255
Analysls of cash and eash equlvalents
2023
2022
Cash in hand
1,563,883
1.368,489
Total cash and cash equivalents
1.563,883
1.368,489
25. Analysls of changes In net debt
At1
September
At31
2022 Cash flov￿ August 2023
Cash al bank and in hand
1,368,489
195,394
1,563,883
1,368,489
195.394
1,563,883
Page 44

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
26. Capital commltments
2023
2022
Contracted for but not provided in these flnancial statements
Acquisition of tangible fixed assets
184,839
Page 45

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
27.
Penslon commitments
The school's employees belong lo tsvo pr￿nciPle pensions schemes., the Teachers. Pension Scheme
England and Wales I the TPS'I for academic and related staff which is a defined benefit scheme and a
defined contribution scheme with The Pensions Trust for non-teaching staff. In addition, the school
conlribules lo the personal pension plans of ￿rtain employees.
Teachers. Pension Scheme England and Wales I'the TPS'I
The School participates in the Teachers. Pension Scheme I'the TPS'I for ils leaching staff. The pension
charge for the year Includes contributions payable to the TPS of £639,714 12022." £560,801) and at the
year*nd £71,50312022 - £65,6291 was accrued in respect of contributions lo this scheme.
The TPS is an unfunded mulli*mployer defined benefits pension scheme governed by The Teachers.
Pensions Regulations 2010 las amended) and The Teaehers, Pension Scheme Regulations 2014 las
amended). Members contribute on a 'pay as you go" basis with contributions from members and the
employer being credited lo the Exchequer. Retirement and other pension benefits are paid by public funds
provided by Parliament.
The employer contribution rale is sel by the Secretary of Stsle following scheme valuations undertaken by
the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at
31 March 2020 and the Valuation Report, which was published in October 2023.
Following the Mccloud judgement, the remedy proposed that when benefits become payable, eligible
members can select to receive them from either the reformed or legacy schemes for the period 1 April
2015 10 31 March 2022. The actuaries have assumed that members are likely lo choose the option that
provides them with the greater benefits, and in preparing the 2020 valuation have valued the 'greater
value, benefits for groups of relevant members.
The valuation confirmed that the employer contribution rale for the TPS would increase from 23.6 /0 to
28.60/0 from 1 April 2024. Employers are also reqijired lo pay a scheme administration levy of 0.08°k giving
a lolal employer contribution rale of 28.68 /0.
The Pension Trust
The School participates in the scheme. a mulli-employer scheme which provides benefits lo some 638
non-associaled participating employers The scheme is a defined benefit scheme in the UK. It is not
Possible for the company to obtain sufficient information lo enable il to account for the scheme as a
defined benefit scheme. Therefore, Il accounts for the scheme as a defined contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force
on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical
Actuarial Standards issued by the Financial Reporting Council, sel out the framework for funding defined
benefit occupation pension schemes in the UK.
The scheme is classified as a 'lasl-man standing arrangement,. Therefore the company is potentially liable
for other participating employers, obligations if those employers are unable lo meet their share of the
scheme defi'cit following withdrawal from the scheme. Participating employers are legally required lo meet
their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.
A full actuarial valuation for the scheme was carried out al 30 September 2020. This valuation showed
assets of £800.3m, liabilities of £831 9m and a deficit of £31.6m To eliminate this funding shortfall, the
Trustee has asked the participating employers lo pay additional contributions lo the scheme as follows..
Page 46

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
27. Pension commltments l¢ontlnuedl
Delicit contributions
From 1 April 2022 to 31 January 2025
£3,312,000 per annum
Ipayable monlhlyl
Unless a coneession has been agreed with the Trustee the term lo 31 January 2025 applies.
Note that the scheme's previous valuation was carried OLtI with an effective dale of 30 September 2017.
This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131 5m. To eliminate this
funding shortfall, the Trustee has asked the participating employers to pay additional contributions lo the
scheme as follows..
Deficit contrlbutlons
From 1 April 2019 to 30 September 2025
£11,243,000 per annum
{payable monthly and increasing by 3,/0 each on 1 st April)
The recovery plan contributions are allocated lo each participating employer in line with their eslimaled
share of the Series 1 and Series 2 liabilities.
Where the scheme is in deficit and where the company has agreed lo a deficit funding arrangement the
company recognises a liability for this obligation. The amount recognised is the nel present value of the
deficit reduction contributions payable under the agreement that relates lo the deficit. The present value is
calculated using the discount rate detailed In these disclosures. The unwinding of the discount rale is
recognised as a finan￿ Cost.
Pension commitments Icontlnuedl
Present value of provision
31 Au9USt 31 August
2023
2022
31 August
2021
Present value of provision
54 705
Reconciliation of openlng and closing provisions
2023
2022
Provision at start of period
Unwinding of the discount factor linteresl expense)
Deficit contribution paid
Remeasuremenls - impact of any change in assumptions
Remeasurements - amendments lo the contribution schedule
10.836
371
14.7161
{64}
54, 705
370
(10,962)
(478)
(32, 739)
Provision at the end of period
6,427
10,836
Page 47

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Income and expenditure impact
2023
2022
Interest expense
Remeasuremenls- impact of any change in assumptions
Remeasuremenls - amendments to the contribution schedule
371
310
(478)
(32, 739)
Costs recognised In Income and expendlture account
307
132,907)
31 August
2023
/0 per
annum
31 August
2022
°A per
annum
31 August
2021
°A per
annum
Rale of discount
6.04
4.46
0.63
The discount rates shown above are the equivalent single discount rates which, when used to discount the
future recovery plan contributions due, would give the same results as using a full AA corporate bond yield
curve to discount the same recovery plan contributions.
The pension charge for the year includes contributions payable to The Pension Trust scheme of £88,812
12022 £83,454) and at the year-end £6,681 12022 £11,854) was accrued in respect of contributions lo
this scheme.
28.
Operating lease commitments
Al 31 August 2023 the Company had commitments lo make future minimum lease payments under non-
Can￿lIable operating leases as follows..
2023
2022
Not later than 1 year
Later than 1 year and not later than 5 years
17,801
13.080
13.051
24,135
30.881
37, 186
The following lease payments have been recogni5ed as an expense in the Statement of financial
activities.
2023
2022
Operating lease rentals
17.716
23,354
Page 48

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
At 31 August 2022 the lolal of the group's future minimum lease income receivable under non-
cancellable operating leases was..
2023
2022
Within 1 year
Be￿een 1 and 5 years
Greater than 5 years
33,517
18,400
75,517
38.600
43,817
80,117
127,434
162.534
29. Se¢urity
Included within cash al bank are amounts of £178,244 12022 £181,043) held as a guarantee lo the
Secretary of State lo cover all liabilities arising out of The Blue Coat School Birmingham Limiled's
application lo be an accepted school under regulation 13411 Ilbl of the Teachers, Pensions Regulations
2010.
30. Financial instruments
2023
2022
Financial assets
Financial assets measured at fair value through income and expenditure
14,650,519
14,947,846
Financial assets measured al fair value through income and expenditure comprise investments and
investment properties.
The Groups income, expense, gains and losses in respect of financial instruments are summarised
below..
2023
2022
Totsl investment income for financial assets measured al fair value through
income and expenditure
Net Ilossesllgains on financial assets measured al fair value through
income and expenditure
Impairment gains on financial assets measured al amortised cost
530.045
480,896
{297.3261
3,499
(612,236)
7,626
Page 49

THE BLUE COAT SCHOOL BIRMINGHAM LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
31. Related porty tran$a¢tions
During the year ended 31 August 2023, the value of payroll costs paid to close family members of Key
Management Personnel, deemed related parties, was £86,81612022'. £81,643).
The School Governors includes a parent, and grandparent of pupils currently at the school. During the
year they were ch8rged School Fees on normal commercial terms. The balance oulslanding al the year
end amounted to £920.
Three members of the Senior Leadership Team are parents of pupils currently al the school. During the
year, they were charged School Fees, discounted by the rale each staff member is eligible for per the
terms of ltheir employment. The balance outstanding al the year end was £1,439.
Page 50