Regislered number: 02876158 Charity number: 11 S2261 GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limlted by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) CONTENTS Page Reference and Adminlstrative Detalls of the Company, its Trustees and Advisers Trustees. Report Independent Audllors. Report on the Flnancial Statements Statement of Flnancial Activilies 9-12 13 Balance Sheat 14-15 statement of Cash Flows 16 Notes to Ihe Financial Statements 17-31
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Llmited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustees M Morgan D Burke W Morgan G Jeremiah H Wood J Richardson Company registered number 02876158 Charity reglstered umber 1152261 Registered office The Tralning Room Pate's Grammar School Princess Elizabeth Way Chelténham Gloucestershire GL51 OHG Company secretary Cara York Independent auditors Randall & Payne LLP Shurdington Road Chellenham Gloucestershire GL514GA Bankers Virgin Money 177 Bolhwell Streel Glasgow G2 7ER Page 1
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED IA Company Llmlted by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present thelr annual report together with Ihe audited financial statements of the Company for the 1 September 2023 to 31 August 2024. The Annual Report serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that Ihe Annual Report and financial statemenls of the charitable company comply with the current statutory requirements, the requiremenls of the charitable compar)Is governing document and the provisions of the Slatement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic cf Ireland (FRS102) (effeclive 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large cornpanies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities a. Objectlves and a¢tivities The aims and objectives of the Charity are to advance the education of the public in general, in particular amongst primary and secondary schools, and to provide initial teacher training and continual professional development. In strfvlng towards thls. the Charity has considérod the Charity Commlssloners guldance on public benefit and the Charity operates In order to ensure the best possible provision of educatlon and services for young people In GlouGestershire's schools. The Twstees confirm that due consideratlon has been glven to the Charfty Commission's published guidance on the Public Benefit requlrement under the Charities Act 2011. b. Strategles for achlevlng objectives The Charity supports schools by offering professional development and advice at little or, preferably, no cosl to schools. It also adds c8pacity to enable schools to deliver specific projects and aims lo be financlally s81f- supporting by working on contracts and projects regionally and nationally. c. Grant maklng pollcles The Trustees consider applications for specific grants to support partlcular projects. Pag8 2
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achlevements and performanc• a. Main achievements of the Company In line wilh its aims and objectives the Tnjstees and Board of Directors have achieved the following during the previous 12 months: Inltlal Teacher Training In 2023124 the Charity continued to support the Gloucestershire Initial Teacher Education Partnership IGITEP) School Centred Initial Teacher Training (SCITh). The Charity conlinues to have a partnership with the Universlty of Brislol to provide the accreditation for the Postgraduate Certificate of Educatlon for GITEP trainees. The Charlty continues to guarantee arKI support the delivery of Ihe trainee enlitlement. This supports trainee progresslon and provides career development opportuniti8s for school-based staff who fulfll mentor and professional lead roles or are seconded as programme or subject lead8rs. In 2023124 660/0 of tralnees gained employment either In Gloucestershire or in one of the GITEP partner schools in olher counties. The Charity was pleased to use its reserves to support access and hardship payments for those trainees nol in receipt of a bursary. The Charlty cOnnUed to provide vlsualisers lo trainees to enable them to teach and access tralning remotely and provided funds to buy key texts for trainees. GASH Ltd holds a contract with DfE to deliver subject knowledge enhancement ISKE) courses to those Inlendlng to train to teach, In partnership with Vldleam. In 2023124, courses were delSvered in English, malhemalics, physics, chemlstry, blology, French, Spanlsh. religious educats'on and computlng. These courses supported trainees with GITEP and with several other teacher training providers, mainly in the South-west. CPD Through Adfecto, a trading name. GASH Ltd has continued lo offer professional development opportunltles for schools. In particular. it has worked in partnership with the two teaching school hubs in Gloucestershire, Sclence Learnlng Partnershlp The contract with STEM Leaming was extended until August 2024. The contract sat with Pate's Gramm8r School and Adfecto worked in partnership to deliver professional development for science teachers and technicians across Gloucestershire, Swindon and Willshire. The Pate'slAdfecto partnership has also had responsibility for th8 Bristol Science Learning Partnership. Adf8Cto's contract, starting in April 2022, as Regional Coordinator for all the Science Leaming Partnershlps In th8 South-west and West Midlands was extended until August 2024. In April 2024 the DfE announced it would cease to fund science learning partnerships when the existing contracts ond in August 2024. This was disappoints'ng news. as Adfecto has been involved with scienc8 18arning partnerships since 2013. P8g8 3
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achlevements and perfomiance (continued) Cornpuling Hub Pate's Grammar School, worklng in partnership wilh Adfecto, leads the Computing Hub for Glouceslarshire, Wiltshir8 and North Somerset. The original contract, first deslgnated in 2019, was exlended in April 2023. In Aprll 2023, Pate's and Adfecto were also asked to take on an additional contract to lead the Computlng Hub for the West Midlands. In January 2025, noticed was received that the Computing Hub Contracts would cease as al the 31 March 2025.. Early Career Framework The Charily, using the TeachGlos branding. was pleased to work wilh the iwo teaching school hubs. Balcarras Sohool and Pate's Grammar School. to deliver the Early Career Teacher programme for Gloucestershire. Over 400 teachers participated in the programme in 2023124, with TeachGlos taking responsibilily for organising the training sessions. The support ol TeachGlos was invaluable in enabling Ihe programme to run effectively. School Buslness Leaders Adfecto is part of the SBM Partnershlp, along with Serco. These programmes continued, now mostly onllne, throughout 2023124 and continue to provide imporlant Iralnlng and development for school buslness leaders across the Gountry. AGcommodatlon After 7 years at the M8isemore site the d8clsion was made to move to a school slte, both as a cost saving measure and to make teacher training and development more effective. The move was finally completed in August 2024. The business will now be split beeen Iwo sites: Cheltenham Boumslde School. which will house the initial teacher training. school businèss manager and finance teams, and Pate'5 Grammar School, which will house the STEM leam. The company address will become Pate's Grammar School. Page 4
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and performance (contlnued) b. Key performance indlcators Initial Teacher Training Recruitment to teacher training remained challenging in 2023124 but there was a s5gniflcant increase In the number of trainees recruited lo start the 2024125 cours6. Sclence Learning Partnership The SLP exceeded its larget numbers for particlpants and school engagement across both contracts and met all key perforrnance indicators. Compuling Hub The Computing Hub hil most of its KPIS durlng the year. School buslness leader programmes Many of these programmes were already onllne. Numbers continued lo be strong with over 300 partlcipanls over the year. c. Revlew of actlvllles The main activities in the year under revlew were: Initlal teachor tralnlng Continued professional development {CPD) School business leader tralning programmes Flnanclal revlew . Golng concern After making appropriate enquiries, the Trustees have a reasonable expectalion that the Company has adequat8 resources to Continue in operalional existence for the foreseeable future. For Ihis reason, they continue to adopt the going concern basis in preparing the financial stat8ments. Further details regarding the adoption of the going Concem basis can be found in Ihe accounting policies. Page 5
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantèe) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Achlevements and performance (Gontinuedl As at 31 August 2024. total reserves were {£1.003,632 TBC) (2023 £1,065,616). The reserve is unreslricted and for use at the discretion of the Trustees to fulfil Ihe Charitvs objeclives. The Charity aims to hold £500,000 of funds in reserve at the end of the financial year to meet all employment costs, including redundancies, and other business dosure costs. The Charity aims to use the surplus to provide free courses and support for schools and teacher training in Ilne wlth their charitable aims. Princlpal rlsks and uncertalntles The board have from time to time dlscussed and assessed the major risk5 lo which the Charlty Is exposed and considered safeguards that have been and can be implemented to mitlgate those risks. In accordance wlth the Statement of Recommended Practlce for Charilies the TTUStees review and update the formal risk assessment annually. Page 6
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMrrED (A Company Llmlted by Guarantee> TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Structure, governance and management Constitutlon Gloucestershlre Association of Secondary Headteachers Limited is registered as a charitable company limiled by guarantee and was sel up by a Trust deed. b. Methods of appolntment or electlon of Trustee The managernent of the Company Is the responsibility of the Trustees who are elected and co opted under the terms of the Trust deed. c. Organlsational structure and dec5slon maklng policies As GIouc8Stershire Association of Secondary Headteachers Limlted was establSshed for th8 benefit of secondary schools wlthln Gloucestershire and in accordance with the Artlcles of Association, all members of the Gloucestershlre Associallon of Secondary H&adteachers are entitled lo become members of the Charity. In October 2022, the Association changed its name to Gloucestershire Association of Secondary School Leaders. The Charity has not changed Its legal name. d. Policies adopted for the Inductlon and tralning of Trustees The Trustee8 are appointed either at the Charitys AGM, under the recommendatlon of the majorlty of members, or in year by the Board. Trustees appointed by the Board retain office until the next AGM when they become eligible for re election, In order to ensure the maintenance of the Chariws objectives, the board must have a minimum of 3 members. The board had 6 headteacher members In 2023124, consisting of: M Morgan (Chair- resigned 31 August 2024) W Morgan D Burke G Jeremiah {Chair from 01 Séptember 2024) H Wood J Richardson M Morgan resigned as a trustee with effect from August 312024. The Trustees of Gloucestershire Association of Secondary Headteachèrs Limited may delegat8 certain authorities to specific Trustees or other persons as Is felt necessary. In thè period, such delegated authority was glven to T Connole (Chief Executive ex officio). When appointing nèwly elected Trustees. Gloucestershlre Association of Secondary Headteachers Limited has a policy of induction which includes ensuring that they are fully aware of their responsibilities in rel8llon to both Companies Hous9 and Charitles Commission guidance and the Charitys oblectives. Page 7
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMrrED IA Company Umlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Plans for future periods GASH Ltd will continue to develop its work in Initial teacher training. Through Adfgcto and TeachGlos It will continue to provide and develop CPD courses for serving teachers, especially Early Career Teachers, During 2024125 we plan to: Support GITEP SCITT in developing new courses in psychology, buslness and primary. Provide financial support for trainee leachers through an access fund Reinstate a paid internship scheme for people interested in teaching Deliver two new contracts.. Stimulating Physics Network {wlth STEM Learning} and Green Futures (with STEM Learning and the Wesl of England Combined Aulhorily) Further develop the partnershlp with Ihe teaching school hubs in Gloucestershire Statement of Trustee's responslbilltles The Trustees {who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounling Practlce). Company18w requires the Trustees to prepare financial statements for each financial year. Under company law, the Trusteos 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 Company and of its incoming resources and application of resources, Including its income and expenditure. for that period. In preparing these financial statements, the Trustees are requlred to: select suitoble accountlng policies arKI then apply them consistently, observe the methods and principles of the Charfties SORP (FRS 102); make judgements and accounling estimat8S thal are reasonable and prudent,, slate whether applicable UK Accounting Standards IFRS 102) have been followed, sublect to any material departures disclosed and explained in the financial statements,, prepare the financial statements on the going concem basis unless it Is Inappropriate to presume that the Company will continue in business. The Trustees aTe responsible for keeping adèquate accounting records that are sufficient to show and explain the Companls transactions and disclose vAth reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial ststements comply wlth the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irrogulartties. Approved by order of the members of the board of Trustees on 20 January 2025 and signed on thelr behalf by.. G Jeremlah Page 8
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED Opinlon We have audited the financial statements of Gloucestershlre Associatlon of Secondary Headteachers Llmit@d (the 'charitable companv) for the year ended 31 August 2024 which comprise the Statement of Financlal Activltles. the Balance Sheet, the Statement of Cash Flows and the related notes. includSng a summary of significant accounting policies. The financial reporting framework that has been applied In their preparation Is appllcabl8 law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard appllcable in the UK and Republic of Ireland, (Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable companvs affairs as at 31 August 2024 and of its incoming resources and applicauon of resources, including its income and expenditure for the year then ended; have been properly prepared in accordance with Unit8d Kingdom Generally Accepted Accounting Practice., and have been prepared In accordance with the requlrements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Slandards on Auditing (UK) (ISAS {UK}) and applicable law. Our responsibilities under those standards are further described in the Auditors, responslbllltles for the audlt of the financial statemenls section of our report. We are independent of th8 charltable company in accordance wlth the ethic21 requlrements that are relevant to our audit of the financial statements In the United Kingdom, including the Financial Reporting Councll's Ethical Standard, and we have fijlfllled our other ethical responsibilities in accordance wilh these requlrements. We believe thal Ihe audit evldence we have obtained is SLfficient and appropriate to provide a basis for our opinion. Concluslons r•latlng to golng concem In auditing th8 financial statements, we have conduded that the Trustees, use of Ihe going concem basls of accounting in tha preparation of the financial statemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, Individually or collectively, may cast significant doubt on Ihe charitable company's ability to conts'nue as a going concern for a period of at least e1ve months from when the financial slatements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concem are described in the relevant sections of this report. Page 9
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED {CONTINUED) other informatlon The other infomialion comprises the information included in the Annual Report other than the financlal slalernents and our Auditors, Report thereon. The Truslees are responsible for the olher information contained wllhin Ihe Annual Report. Our opinion on the financial slatemenls does nol cover the other information and, axcepl to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other inforrnation and, in doing so, consider whether the other Infortnation is materially inconsistent wth the financial slatemenls or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such malerial inconslstgncies or apparent material misstatements, we are required lo 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 malerlal misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are required to report by exception We have nothlng to report in respect of the follow5ng matters where the Charilies (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion- the information given In the Trustees, Report is inconsSstent in any malerlal respect wSth the financial stalemenls., or sufflclent accounting records have not been kept,. or the flnancial statements are not in agreement with the accounting records and returns., or we have not recelved all the infom)ation and explanations we requlre for our audll. Respon8ibilltles ol trustees As explained more fully in th6 Trustees, Responslbilities Statement. the Trustees (who are also the directors of the charitable company for th8 purposes of company law) are responsible for the preparation of th8 financial statements and for being satisfied Ihat they give a true and fair view, and for such inlemal control as the Truslees determine is necessary to enable the preparation of financial statements thal are frea from material mlsstatement, whether due to fraud or error. In preparing the financial statements, the Trustees ats responsible for assessing the charitsblo companvs ability to contlnue as a going concern, disclosing, as applic8ble. matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so. Page10
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (CONTINUED) Auditors, responslbilities for the audit of the financial statements We have been appointed as audilor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatem8nt, whether due to fraud or error, and to issue an Audltors, Report thal includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financSal Statements. Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in Ilne with our responsibilities, outlined above, to detect material mi551atements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting Irregularities, including fraud is detalled below.. Our audit planning process gave consideralion to the risk of material misstatement in the financial statements, using the calculated materialSty level which itself factored in the nature of the associatlon's operations and the Interpreted levels of inherent and control risk. In assessing the rlsk of fraud we reviewed managernent's own assessment of potential for fraud within the entity and reviewed judgements made by management to identify possible bias. In addition to any opportunity and Incentive for fraud that are in inherent In Ihe nature of the association's operatlons. Our detailed testlng Included revlew of accounting estlmales and judgements and validation of prlme ledger entries. We confimied our knowledge of the legal and regulatory environment of the entity through discussions with management. VV6 analysed all informatlon available to us in respect of relevant laws and regulations, including the Companies Act 2006, Charities SORP, and relevant UK lax legislation and enquired with management as to any possible breaches in the aforementioned. We agr8ed the accuracy of the financial slatements to the supporting management infomiation provided by the client and tested individually on a sample basis the Income and 8xp8nditure in the financial statements to consider the business rationale behind the transactions and the accuracy of the financial records. Our audit testing did not identlfy any issues in respect of the matters listed above, including fraud, A further description of our responsibilities for the audit of the financial statements is located on the Financial Reportlng Council's website at: www.frc.or .uklauditorsres nsibilities. This description forms part of our Auditors, Report. Use of our report Thls report is made solely to th8 charitable companys trustees, as a body, in accordance wilh Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audil work has been undertaken so that we might state to the charitable companys trustees those matters we are required to state to them In an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyon8 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. Page11
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED
(A Company Limited by Guarantee)
SSSa INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (CONTINUED)
Ryan Moore (Senior Statutory Auditor)
Randall & Payne LLP
Statutory Auditors Shurdington Road Cheltenham Gloucestershire
GL51 4GA
20 January 2025 Randall & Payne LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Charitable activities Investments 875,482 34,336 875,482 34,336 886, 537 21,025 Total Income 909.818 909,818 907, 562 Expendlture on: Charitable contribullons Charitable activities 64,600 906,738 64.600 906,738 75,046 894, 805 Total expenditure 971,338 971.338 969, 851 Net movement In funds (61.520) (61.520) (62, 289) Reconclllatlon of funds: Total funds brought forward Net movement In funds 1,065,616 (61,520 1,065,616 161,520) 1,127,905 (62,289) Total lunds carrled forward 1,004,096 1,004,096 1,065,616 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 17 to 31 form part of Ihese financial siatements. Page 13
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Llmited by Guaranlee) REGISTERED NUMBER= 02876158 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2923 Note Flxed assets Tanglb18 assets 2.072 7,588 2,072 1,588 Current assets Deblors Cash at bank and in hand 10 187,539 979,307 19q,486 939.609 1,166,846 1, 13q,095 Creditors.. amounts falling due within one year 11 (164.822> (67,067) Net currenl assets 1,002,024 1,064, 028 Total assets less current Ilabllltles 1,004,096 1,065,616 Net assets excludlng penslon asset 1,004,096 1,065,616 Total net assets 1,004,096 1,065,616 Charlty funds Restricted funds Unrestrlcted funds 13 13 1,004,096 1,065,616 Total funds 1,004.096 1,065,616 The entity was entitled to exemption from audit under seclion 477 of the Companies Act 2006. The members have not required the enlity to obtain an audit for the year in question in accordance wlth section 476 of the Companies Act 2006. However, an audit is required in accordance with section 145 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounling records and preparation of financial statements. The finsncial statements have been prepared in accordan with the provisions applicable to entities subjgct to the sm811 companies regime. The financlal statements were approved and authorised for issue by the Trustees on 20 January 2025 and signed on their behalf by. Page14
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 02876158 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2024 G Jeremlah The notes on pages 17 to 31 form part of these financial statements. Page15
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Cash flows from operatlng activities Net cash used in operaling activities 8,918 (210, 774) Cash flows from invesllng activities Dividends, interests and rents from investments Purchase of tangible fixed assets 34,336 (3,556) 21,025 Net cash provided by Investing activlties 30,780 21,025 Cash flows from financlng activitles Net cash provlded by financlng activities Change In cash and cash equlvalents Sn the year Cash and cash equivalents at the beginning of the year 39,698 (189,749) 1, 129,358 939,609 Cash and cash equlvalents at the end of the year 979,307 939,609 The notes on pages 17 to 31 form part of these financial statements Page16
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Cornpany LimSted by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General Informatlon Gloucestershire Association of Secondary Headteachers Limited ("th8 Charity") is a registered charlty and company limiled by gu2rentee, incorporated In England and Wales. It is govemed by Its Memorandum and Articles of Association. The guarante8 of each member is limited to £1. The company was granted charitable status on 3 June 2013. Accounting policles 2.1 Basls of preparatlon of financlal slatements The financlal statements have been prepared in accordance wlth the Charities SORP (FRS 102) Accounting and Reporting by Charities: Slaternenl of Recommended Practice applicable to charilles preparfng their accounls in accordance wlth the Financial R8POrting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Gloucestershire Association of Secondary Headteachers Llmited meets th8 definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognSsed at hlstorical cost or transaction value unless otheNise stated in the relevant accounting policy. 2.2 Golng concern The Trustees assess whether the use of going concern is appropriate i.e. whether Ihere are any malerlal uncertaintles related to events or conditions that may cast slgnificant doubt on the ability of the association to continue as a going concern. The Trustees make thls assessment in respect of a perDd of al least one year from the date of authorisation for issue of the financial staternents and h8vè concluded that the associats'on has adequate resources to continue in operational exlstence for thé foreseeable future and there are no material uncertainties about the associallon's ability to continue as a going concern, thus they contlnue to adopl the going concem basis of accounling in preparing the fin8nclal statements. 2.3 Income All income is recognised once Ihe Company has entitlement to the income, it is probable that the income will be received and the amount of incom8 re1vable can b& measured rellably. Income tax recoverable in relatSon to invèstment income is recognised at the tlme the investment income Ss receivable. 2.4 Expenditure Page 17
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng policies (contlnued) Expenditure is recognised once there is a legal or construclive obligation lo transfer economic benefit to a third party, it is probable thal a transfer of economic benefits will be requir6d In settlement and the amount of the obligation can be measured reliably. Expendlture is classlfied by aclivity. 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 attribuiable to a single activity are allocated direcily to that activity. Shared costs which contrlbute to more than one aclivily and support costs which are not attributable to a slngle activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and deprociation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for Its charitable purposes and includes costs of all fundraislng activities events and non-charitable trading. Expenditure on charitable activities Is incurred on directly undertaking the activities which further the Companls objectives, as well as any associated support costs. All expenditure is inclusive of Irrecoverable VAT. 2.5 Inlerest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company. this is normally upon nots'ficatlon of the inlerest pald or payable by the instltution wllh whom the funds are deposited. 2.6 Tangible flxed assets and depreclatlon Tanglble fixed assets costlng £500 or more are capitalised and recognised when future 8conomlc benefits are probable and 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, tanglble fixed assets are measured at cost less accumulated depreciation and any accumulated impairmer)t losses. All costs incurred to bring a langible fixed asset into its int8nded working condition should be included in thè measurement of cost. Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value over their estimated useful lives, Depreciatlon is providèd on the folbwing bases: Fixtures and fittings Office equipmént Computer equlpment 4 years straighl line 4 years straight line 4 years slraight line 2.7 Debtors Trade and other (Jebtors are recognised at Ihe settlement amount after any trade discount offered. PrepayThents are valued at the amount prepaid net of any trade discounts due. Page 18
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounllng pollcies (continued) 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments wlth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilltles and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a pasl event, il is probable that a transfer of economic benefit will be required in Settlement, and the amounl of the settlement can be estimated reliably. Liabilities are recognised al the amount that the Company anticipates it will pay lo settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provislons are measured at the best estimale of the amounts required to settle the obllgation. Where the effect of the time value of money is malerial, the provision is based on the pre58nt value of those amounts, discounted at the pre-tax discount rate that reflects the risks speciflc lo the liability. The unwindlng of the discount is recognised in the Statement of Financial Activitlgs as a finance cost. 2.10 Flnancial instruments The Company only has financial assets and flnandal Ilabillties of a kind that qualify as baslc flnancial Instruments. Basic financial Instruments are initialty recognised at transactSon value and subsequenuy measured al their settlement value with the exc8Ption of bank loans whlch are subsequenuy measured at amortised cost using the effective interest method. 2.11 Operatlng leases Rentals paid under operating leases are charged to the Statem8nt of Financlal Actlvities on a straight-llne basis over the lease term. 2.12 Fund accountlng General ftjnds 8re unrestricted funds which are available for use al Ihe discretion of the Truste88 in furtherance of the general objeclives of th8 Company and which have not been designated for other purposes. Investment income, gains and losses arè allocat8d to the appropriate fund. Page 19
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from charitable activities Unrestrlcted funds 2024 Total funds 2024 Training courses and conferences Other income 875,002 480 875,002 480 875.482 875,482 Unrestricted lunds 2023 Tolal funds 2023 Tralning courses and conferences Olher Income 885, 637 900 885,637 900 886,537 886, 537 Investment Income Unrestricted funds 2024 Total funds 2024 Investment incomè - Interest on temi deposits 34,336 34,336 Unrestricted funds 2023 Total funds 2023 Investment income - Interest on term deposits 27,025 21,025 Page 20
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Cornpany Llmlled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure on charltable activltles Summary by fund type Unrestricted funds 2024 Total 2024 Staff and facilitator costs Bank charges Conference costs Consultancy and contraclors Renl and rates Depreclatlon charges Computer and IT costs Insurances Printing, stationary and office consumables Repairs. renewals and other premises costs Marketing and Advertising Audlt, accountancy and other fees 547,879 133 32,898 229,823 35,915 757 22,074 6,326 7,209 10,645 4,726 8,353 $47,879 133 32,898 229,823 35,915 757 22,074 6.326 7,209 10,645 4,726 8,353 906,738 906,738 Page 21
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED IA Cornpany Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expendSture on charitable activities (continued) Summary by fund type (Continued) Unrestricted funds 2023 Total 2023 Staff and facilitator costs Bank charges Conference costs Consultsncy and contractors Rent and rates Depreclation charges Computer and IT cosls Insurances Prlnling, ststionary and office consumables Repairs, renewals and other premises costs Marketing and Advertising Audlt, accountancy and other fees 578, 739 64 T5,967 19q,263 51,120 2,690 20,683 5,516 8, 150 3, 183 9.450 7,980 518,739 64 75,967 791,263 51,120 2,690 20,683 5,516 8,150 3,183 9,450 7,980 894,805 894,805 Page 22
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expendlture by actlvlties Activltles undertaken directly 2024 Support costs Total funds 2024 2024 Staff and facllitator costs Bank charges Conference costs Consultancy and contractors Rent and rates Depreciation charges Computer 8nd IT costs Insurances Printing, stationary and office consurnables Repairs, renewals and other pr8mises costs Marketing and Advertising Audit, accountancy and other fees 547,879 133 32,898 229,823 35,915 757 22,074 6.326 7,209 10.645 4,726 S47,879 133 32,898 229,823 35.915 757 22,074 6,326 7,209 10,645 4.726 8,353 8,353 898,385 8,353 906,738 Page 23
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Cornpany LimSted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by activities (continued> Aclivilies undertaken directly 2023 Support costs 2023 Tolal funds 2023 Staff and facilitator costs Bank charges Conference costs Consultancy and contractors Rent and rates Depreciation charges Compuler and IT costs Insuran¢es Printing, stationary and office cor)sumables Repairs, renewals and other premlses costs Marketing and Advertising Audlt, accountancy and other fees 518,739 64 75,967 191,263 51, 120 2, 690 20,683 5,516 8,15Q 3, 183 9,45Q 518,739 64 75,967 191,263 51,720 2,690 20,683 5,576 8, 150 3, 183 9,450 7, 980 7,980 886,825 7,980 894, 805 Audltors, remuneratlon 2024 2023 Fees payable to the Compang5 auditor for the audit of the Companls annual accounts 5.400 6,300 Fees payable to the Companls auditor In respect of: All non-audit services not included above 1,500 1,680 Trustees. remuneratlon and expenses During the year, no Trustees recèived any remuneration or other benefits (2023 - £NIL). During the year ended 31 August 2024. expenses totalling £nil were reimbursed or paid directly to Trustee (2023 - £NIL to Tnjstee). The expenses were in relation to conference and travel costs. Page 24
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limiled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Tanglble fSxed assets Fixlures and flttlngs Office equipment Computer equlpment Total Cost or valuallon At 1 September 2023 Additions 11.003 11,439 19.837 3,5S6 42,279 3,556 At 31 August 2024 11,003 11,439 23,393 45,835 Dopr•¢latlon At 1 September 2023 Charge for Ihe year 11.003 11,439 18,249 3,072 40,691 3,072 At 31 August 2024 11,003 11,439 21,321 43,763 Net book value At 31 August 2024 2,072 2,072 At 31 August 2023 1,588 1,588 10. Debtors 2024 2Q23 Due wlthln one year Trade debtors Prepayments and accrued income 72,760 114.779 186, 774 4,712 187,539 q91,486 11. Credltors: Amounts falling due within one year 2024 2023 Trade creditors Accruals and d8farr8d income 41,683 123,139 34,997 32,070 P8ge 25
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 11. Creditors: Amounts falling due within one year (continued) 2024 2023 164,822 67,067 2024 2023 Deferred income al 1 September 2023 Resources deferred during the year Amounts released from previous periods 6,380 81,346 (6,380) 6,380 81,346 6,380 Deferred income relates to incorne received for courses not yet provided. 12. Flnanclal instruments 2024 2023 Flnanclal assets Financial assets measured at fair value through income and expenditure 979,307 939,609 2024 2023 Flnanclal Ilabllltles Other financial liabilities measured at amortised cost 164,822 67,067 Financial assets measured at fair value through income and expenditure comprisa cash at bank 8nd on hand. other financial liabilities measured at amortised cost compnse of current liabilities. Pago 26
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limlled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Statement of funds statement of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Income Expenditure Unrestricted funds Reserves 1.065,616 909,818 {971,338> 1,004,096 Page 27
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Statement of funds (continued statement of funds - prior year BalanG8 at I Septembor 2022 Balance at 31 August 2023 Income Expenditure Unrestrlcted funds Reserves 1,127,905 907,562 (969,857) 1,065,616 14, Summary of funds Summary of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Income Expendllur• General funds 1,065,616 909,818 (971,338) 1,004,096 Summary of funds - prlor year Balance at I September 2022 Balance al 31 Augus¢ 2023 Income Expenditure General funds 1, 127,905 907, 562 (969, 851) 1,065,616 Page 28
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricled funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Difference 2,072 1,054,114 (52,090) 2,072 1,054,115 (52,090) Total 1,004,096 1,004,096 Analysls of net assets between fund5 - prior period Endowment Unrestricted funds funds 2023 2023 Total funds 2023 Tanglble flxed assets Current assets Credltors due withln one year 1,588 1,131,095 (67,06T) 1,588 1,131,095 (67,067) Total 1,065,616 1,065,616 Page 29
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16. ReGoncillatlon of net movement In funds to net cash flow from operating activlties 2024 2023 Net expenditure for the perlod (as per Statement of Financial Aclivities) (61,520) (62,289) Adjustments for: Depreciation charges Dividends, interesls and rents from investments Oecreasel(increase) in debtors Increasel{decrease) In creditors 3,072 {34,336) 3,947 97,755 2,690 (27,025) (96, 188) (33,962) Net car•h provlded byl(used In) operaling actlvities 8,918 (210,774) 17. Analysis of cash and cash equlvalents 2024 2023 C8sh In hand Notice d8posits (less than 3 mor)Ihs) 3,226 976,081 928,696 10,913 Total cash and cash equlvalents 979,307 939,609 18. Analysls of changes In net debt September At31 2023 Cash flows August 2024 Cash at bank and in hand 939.609 39,698 979,307 939,609 39,698 979,307 Page 30
GLOUCESTERSHIRE ASSOCIATION OF SECONDARY HEADTEACHERS LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 19. Operatlng lease Gommitments At 31 August 2024 the Company had commilments to make future minimum lease payments under non- cancellable operating leases as follows- 2024 2023 Not later than 1 year 25,870 20. Related party transactions During the year expendilure of £8,839 {2023- £7,604) was incurred by GITEP (Gloucestershlre Initial Teacher Education Partnership) in relation to staff costs, an entity primarily controlled by Gloucestershire Association of Secondary Headleachers Limited Trustees. This expenditure was recharged to Adfecto in full. Overheads are also recharged lo GITEP to cover costs incurred by GASH on thelr behalf. Overheads and University of Bristol fees during the year totalled £15,750 {2023= £267,565.02>. At the year end Gloucestershlre Association of Secondary Headleachers Limited has a balance owing lo GITEP of £672 (2023.. £647) and a balance owing from GITEP of £3,359 {2023.. £102,898). During the year, total income was received of £416,033 (2023: £420,385) from Pates Grammar Schix)l. At the year end, a debtor balance of £nil 12023- £80,395) was due. During the year there was also consultancy fees and other expenditure incurred, totalling of £84,102 {2023 £64,218). No credltor balance was owlng at the year end. During the year, total Income of £33.773 (2023: £40,966) was received form Balcarras School Trust; expenditure of £5,303 (2023.. £3,815) was incurred and paid to BalcaaS. During the year staff costs of £217.314 (2023 £221,156) were recharged from St Pelèr's Catholic High School & Sixth Form Centre. At the year4nd a balancg of £14,52012023: £nil) was owing to St Peter's Catholic High School. Page 31