Charity numboT,' 1158796 SILCOATES SCHOOL GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
SILCOATES SCHOOL ROforCe and AdmInIstrat Dolalls of th• Charlty. Its GOV•n and Adv55•rs Govmors' R•port Govomors, R•sponsibllitlos Stat•m•nt Ind•p•ndenl Audltors. Report on th• Fin•ncll Ststwngrts statement of Financial Actrrfities (Ineorporatlng Inme and Expendltur• Account) Balan¢0 Shggt 3-12 13 14-17 18 statemont of Cash Flows 20 Notes to th• Flnanclal Stat•ments 21-37
SILCOATES SCHOOL REFERENCE AND ADMINISTRATIVE DEfAJLS OF THE CHARrrY, ITS GOVERNORS AND ADVISERS FOR The YEAR ENDED 31 AUGUST 2024 Gov•rnors Mr David Payling. Chair2 MrAn(tre•¥ Jeffery, Vice Ch8in23 Miss Sarth Crozier1 Ms Sarah Fatchett (apWnt 23 Mh 2024. resiwd 9 February 2C125 Mr Michael Hunter Iresiwe(126 February 20251 Mr Christopher Husttdt (Wted 11 Januwy 202S11 Mr Adrian Lingard2 Rev Jascfb Mccullaghl Mr Sidthque Palell.3 Mr5 Barbara Tibbetts1,3 Mr Euan West2 Mr Mark Wllings2 Education 2 Finance & Generd Pwpos0$ 3 Hoallh & Safety Charlty reglstered number 1158796 Prlnclpal offke Silcoales Lane Wrenthorpe Wakefield West Yorkshre WF2 OPD Headm•ster C M Wainman Irbd•p•ndwrt audltors Clive Owen LLP Chartered Account19 ar StatuttyyAuthtw 140 Coniselrfle Road Darfingl¢)n Co Durham DL3 7RT Bankorn Lh)yd$ Bank 17 We$igale Wakefpld Wesl Yorkshire WF11JZ Pa90 1
SILCOATES SCHOOL REFERENCE AND ADMINISTRATIVE DETALS OF THE CHARITY. rts GOVERNORS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Solkllors s¢field Sw8eney LLP Centura 76 Welh'ngton e01 Leeds West Yorkshlre LSI 2AY Insuranc• Brok•r lanz Insuranc& PIC Building 3 Guildford Business Park GuiKlford Surrey GU2 8XG Page 2
SILCOATES SCHOOL GOVERNORS. REP(MIT FOR THE YEAR ENDED 31 AUGUST 2024 The Govemors of Silcoate5 Schcd Chaty wesent tsIr annual rep)rt ic4her the audited finarKial $lalements for the year 1 September 2023 to 31 2024 aThJ confinn Ihey ccrfnF4y vlh ts rewiremenls of the Charities Ad 2011, the Charitys conslitution and the Charl$ SORP IFRS 102). OBJECTIVES AND ACTMTIES Ethos and Alms Sitoates is 0 >18 coeducalional in(k• day Sch. We aim to promde an rrAmd eknatiM. In tthch aKI ew ha$ the opportLmity to develop the skills, waities and apts'l1eS t11 requlre to prctiVe happy lile. We enjoy a frierKIty and carng commurmty. 5iiuated arowKI a stumiry G8organ mon arbj 60 acres of grounds. amid the sb'llne$$ and ¢alm of Ihe gloriws We$1 Yorkshire hills. ere inrVatIVe and expert teaching is und8rpinn8d by unlimitsd &xp8Ctations and coupled wilh trY cwlstarnling pastoral care. We aim lo yovide numerous OpptUnitieS and surrrAnd our pupils vith limitless academk. sodal and cthral opwrtuniknes. aThY havfr a deep commitment lo the prc¥yes$ success of all wpls, wlh absohjtely'no ceiffing5' on the eXpectsti( of vthat Ihey w xhieve. From the fvst steps of expk>rath)n lo the mastery of their art. we aim for our pupils lo be respeciftl. confident. aeademicaty ambitious. •rJewdw rearr, vtt ¥e w8lknovm and supported as irdiwduals. bclh academic4ty and pastorally. The spilitual ethos of the Sthwl is broadly Christian. in ¥th our founda11c. V+t are a COMMlty open to families of dl faiths aThJ rKsne, our approach being (XKlgrkynn&J by a SFilit of kindness. decency arKI mutual respect and an acceptance of the luThJamenlal British vdues of tolttanee, freecknm and demo¢ra¢y. We aim fL¥ Sllcoates to be an open and V{(1)MIng community. wthere staff fe81 valued dev8loped ar farnih.es are supported and indud&J. More LYo•Jty. we aim lo Y ow ftll part in the sporting and cultural lrfe of Wakefield and the regim. Objèctives for the year Our objectives are set to reflect wr etts)s and a¥n& In setting ow leCtiS aTh1 rAanniro athvibes. the Govern havo carefulty cxjnsidered the Charity Commission's pliC benefft gdte aKI. as SLKh. reman sMniL¥ to those in previ(5 academic years.. To malntn a broad academic ¢jM. sw)plwnentYwJ rarge of opts'ons al GCSE and A Level ere possible,. To inspire teacher8 to enswe that the of teathnvJ thfouglb>Jt the S¢b)ol is ¢onsistendy ex¢ellent and that leamers are consequently hbly enthus8d aTrJ motivated.. To continue lo enhance and improve the cocur prov4 for pupils.. To ¢11nO lo develop the fvst class pastoral care that we prowde for pupils". To maintain the provis#)n of meanslesled t1$*Y r4aces to enable tplide acces$ to the from 8 broad range of bad(grwnds orcumsknces", aThJ To play part in lrfe of ow commthity commimty acc aTrJ service programmes. S¢hool set out a r¥e ofwhole-sdvjd targels imsK0vwnI over the academic 202>24..
SILCOATES SCHOOL
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
OBJECTIVES AND ACTMnES {contknU)
Every fx8t of OLW sdth ccrfnmunty is ty.
the active pYcKnotion of the r081rvj of all Silc03tes p11$.,
the actNe womotion of the wEllbeirvJ of all Silcoates stsff n ry(IBr for ts exceptional talenl we have to
functron al its test and highest use, wcYkirvJ wlh exh othw. wlh C•Klour and p$ychL4ogKal safgty to c¥eale
lastiThJ value in a far School,.
thè pursurt ol the best possible knlili8s io maet th8 clwyrvJ damd$ of Ihe ¢u1Wn and the breadth of
exiracurrthl¥ experierte by Frcgressing the strgi¢ plan for the development crf the sile..
pursurt of excellence and a deep c4Jfflmitmenl to the progress of all PUps.
HIEVEMENTS AIID PERFORMANCE
a. Academlc P•rformanc•
The school woudly nnced an impreswve A Level pass rate of 100%, 43% of boys and glrls
achieving th8 top A" A grades Am¢Y these. 11 $Ilents celetrnled achiev1j at least three A'_A grades.
Addilionalty, 97% of all 1verS 4)pIKanls secured CeS at fjist
SLCOATES SCHOOL GOVERNORS, REPORT ICONYINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 ACHIEVEMENTS AND PERFORMANCE (conllnued) c. ¢owrfcularAthhl Schs)ol's curriculum also inckmkn devdoKM))enl of the Th inthvidual, inclLbJirwJ the 'soft Skills. of self- presentation, putAK speaking. team ¥19. co&hing. and mentoring ol others. and Sla1 skills. The piogramme of COTrcurricular ac.b"e5 is nffiCant f( being the main avewe for dwelcying these strengths. vthere we combi[ the perX81 inlere$l$ of our Fwits with opportunities to develop these skills. Our usual extracurrKular dubs as w81 as a full Fwm? of wkty Fk)use activities are very well altended. Competitive sport has alvrays been aj remains an lmrKrfI p1 of a &koates education. House Mu81c Competiti$. Jau evermrys. eoncerts, IwKhtirn8 w8aials in School at Wakefiekl Cathethal are very popular I1h wlS. stsff, parents. alumni aThJ GoverrK)rs ale. Ow talent SI¥. Silcoates Does raise$ apwoximatety £5.000 for Prefe¢t thosen tharthes on ar¥1 basis d. Outdoor Pur4ull$, Expedltlons and Tr8 At Silcoates, pupils begin tho DLd(e of E(tirtxKth'sAward Scheme in Year 9. We erUrage a$ many wpib as possible to lake part in this scheme. offering a range of trainmg optKJrtunities to cmplete th8 various levels. mo Ih8n fifty PUpS usualty gain award5 every year. In Ihe past yEar we were able to return lo a full timetable of Bronze. Sllver aNI Gold level a¢tivib'es, whKh are very much eryoyed by and delivered enormous benefits to the Chifdren takFng parL Of particular nota th8 Ski trip to Austr was substribed the volurleeriNJ trlp to Nepal. We continue(I to offer an extensrie range ofday tr¥is Jtar. e. Pastoral Carn and charitab Fundrnlsing The Sch1 eonlinues to pla¢e the pas weW¥e of its FVFils al the top of tts prionlies and. as well as providing ongoing SUFVOrt for pupils. conlirwes to review its ¥d procedures in order lo embed best pracliee. INSET conts'nue(I lo incIJe safeguwthng traiThng. fotsJsir*J on issues SLth as Equty. Diversty and Inclusion. Staff Wdlbeirs. Mental Heatth. Peer on Pew Atrttse and EthryBotty related ISSU85. Charltable fundralsing continues to •Y an imprxtsnt wt in lrfe al &koates. Page 5
SILCOATES SCHOOL GOVERNOR REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 ACHIEVEMENTS AMD KRFORMANCE (¢onilnuod) f. 8ursary and Seholarshlp Awards During the pericJ the Va of means tested bwwtes totaled £414.0 r¢presenled 5.6% of ow gn)s5 tuition fees. These awards provided assistance to 29 pwxls representing 5.8% of school. In addition, the Sctr•)ol awarded seholthips to 40 based on their oducalicffjal merit and polentlal, tolalling £118,000 and representing 1.6% of ow gross f. The prcwss of pupils recein9 scholarships 1$ revk¥ed annudty to ertsurè rt is wi lirn vAth ttir atidiles. The School's Bursaries and slhIP Poliry is wd8r c(stant revi by the GoverrKJrs lo ensure that able chiklren can accept off8TS of places at cur Schc(4 tlwough the avalability of mean$ tested fee assistance and stholar$hip aw¥d5. Our wlicy is designed to te$S to sch1. we anlicipale t$ review wll help inform the development of OLW pclicy ensure the Ofder access conbrnjes to be achieved. Communlty A¢$$ We see Sikoates a5 a part of a wider hical communty seek to siwort our ccthmurrity. wthout detriment to advanong the education of ow pupils. tAlnever we to do $0. Wa have succeeded in continuirKJ to offer cw fadllbes •) supwl of local and naticmal ccrfnMIty knKluding allowrYJ use of Ihe facih'ties to Ic1 spts teams aThJ scOs a5$tEon$. Local prinary schools also use cAJr facilities induding the swmmirg pod and schools we often inwted lo partiopate In sports festh'vals events. Communty Swvl¢o Our pupils are ergaged in a wide range of aclivitTres in thè eommWty. both colkctively and as individuals. Pupils understsnd the value and iMrtance of helring thrs. Tvne is Spent rais9 8vfdreness of important 155ues like homelessness and pov. both in the UK abroad. Donations are coHected and money is raised for good cause$. Oui HaNest Feslival aso wKknles cc41gctiry food and distrikting it th8 local food bank in Wrenthorpe. Page 6
SILCOATES SCHOOL GOVERNORS REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 FIPIANCIAL REVIEW R8s•r¥•s and Flnanclal H•alth T Govwncvs regLlarty revi& the finance5. Weis expwK&kn against ()et. tcgether with a mffithly ash lknv analysis as part of the effective stwdrdstip ofts SclKK4. In common wth other indeIKtertt schools. the Go¥err have invested subsianlial swns into now schcol builduws over the year$ aThJ hav6 a ¢tirng programme ot rdwbbshmenL development and investm1 lo mntain excdlent teaching facilities for our pupils. The School held anCeS as at 31 Awt 2024 of £7.399.OCKI comprisir¥J £629.000 of endovmient furKIs. £32,000 of restricted funds and £6.738.1)0 of estrICted tunds. The closing value of our tgibk assets. p1 ar#8 eqent. Twas £10.328.OLN). The S¢h¢)ol'$ reserves poitcy r6 based on f• IUre othomes indling projected cash balances. The Govgrnors are committed lo mainta.nwig and lId1rj surpluses ¥1 future years. The Govern¢xs consider that given the strength of the Chartys Bal Sheet. the improwng cash flow over the prevU$ few years, the ongc4.ng populanty of sch1. and the avalable banking faciliiles that ean be called upon, that there is no current need to build up a fRe reserve. GoiNJ CoeM After Maki appropri enquiries, the GoverThys have a rea$(1 expthtson that the Charity has adequatè resources to ntINe in Operatnl eXtster for the lore5eeable ftrture. For ttis reason. they cline to adopt the going concem basis in preparing the finanual smements. Further details regarding the adOptn of the going coeM basis can be fourKI in the Wi(yes. Matsrial InvlMentS polky Scr1 ld rn in¥estrTW)I p¢[10 the pernd in wesl1. Risk Manag•m•nt The Govemors ar8 r8Stonsible for Ihe ovwseeiNJ of risks fa¢ed Detslle(I considerations of risk are delegaled lo the set¥ Management of th8 Schxl. Risks are identffied and assessed. and controls established, throughout the yew. A formal review ol Sd)od's risk managanent processes is undertaken on an annual basis. Risk is managed uTrJer th8 headiThJs of fina181 Susianabilty, schoot $afety, student wellare, emptynent. school Irips arKI everts and ccrfnmwity access. Flnan¢l•l Results finon¢ial $tments net wttyyng re80wces ftr ¢)n xhool of £31.OLJ). This figure is calculated aft8r depreciation and intefest., cash wtraed from operating aclmbes was £799.000 and cash balances fty Ihe year have increased by £368.000 compwed wth the yew rure. prwicipal source of income is I. for 95% ofthe School's irtcthe. see rh)te 4 for further details. The Govern$ are ccffjtiNing their stratew of deplty"NJ all net inccrfniry reSrS lo investing in th8 educational PLwposes arKI fric of cw Pre-SchK4. KI Sen1 S¢h)ol. As a Charity. Ihg pargnls of our 11$ have ts a$$LKaKe Ihat al the income of the Sthool must be appllwj for educational purposes. All income generated is invesled into School. Page 7
SILCOATES SCHOOL GOVERNOR REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Constltutlon &lco8s Sch[ is a Charitable Irated Organisati. The Charitable Inccoorated OrganisaliM wa$ incorporated on 6 October 2014 and commenced tra('ng on 1 Jarrtw 2015. On 1 January 2015 the assets. liabilities LYKlertakings of the &lcoates School FOundatIL (Charity Number 5292811 were translerred to Sikoates ScKxJI (Charity Numter 11587961. Gov•rnor R•crultm•nt and Traln5ng The Governing body requres o brea(Ith WKI depth of experience to carry c4rt rts duties effeclrvely and efficAenlly. When recruiting new Govemors. the important attsibule is a passK)n for the work of our School and an under5tsnding of education as a 11th TOe eyperienee of personal grry•Ah. All new Govemors recnmted to the 808r(l in acCrdanCe Scr.3 wblished Govem( Refflmtsnenl Polty. Where possible. the Govemcrf5 consider ts skils WKI experi of the Board should refiecvcomprise the foll¢MrwJ: A Gownor with exF¢Tien¢e: A Governor with a legal background: A Govemor wth a financi8Llaecounliw b8ckwrbJ: A Govemor wlh Senior manageFial C SinesS experience: A Govemor vilh experience of ewal oFwtunitres dF5abity needs; At least Me feme Govemor at least one m Govemw. One G¢)vemor may have one LY mcrfe ofthese skils. Nomlnating B¢1$ The General AssemlAy of ts United Refrymed Clxffth may appc# 14) to Ihree (3) Charity Govemors. The cornm80 crf lh8 Sikoatis AsxKiabon may aFVC4nl up lo thrtt {3) Charity GoverrKir$. The Goverrn9 Body may ca)18t of up to sixteen (16) Govwrm.
SLCOATES SCHOOL GOVERNORS, REPORT (CONnNUED) FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE. GOVERNANCE AND IAANAGEIAENT l¢ontlnwd) Committws More detailed issues are de4t in adv Go¥errs, meetiiws Ilwh spedfic Govemor Commiilees. Committee EducalK Finance & Genefal Purpo$es Health & Safety Ch iman Mrs Bart4ra Titkntts Mr Dawd E PaylitvJ Mrs Sarah Fatchett The Cbrk to the (3)VwnS is Mrs Emma Swthrson. The daY-ldaY runniNJ of the Scthl is vested by the GoveThhys n thg Headmasler and Bursar. The Headmaster The Bursar Mr Chris Walnman Mrs Emma Sanders Ac¢•ss Polky 11 is ImWrtt to us that xcess to the ecbjcatim Vbt offer is rnt restrthd to Ihose wtv) can afford our fees. We befieve our pupils benefit frLNn le8rniThJ 1th1n a (thverse communty. A gieat deal of leaming occurs through social interaction. cmversation and shared eXperie5 helps our puyls devel an understanding of the perspe¢tives of other peoFAe that wll be li they thll Ipfts. Our Iwr$ary policy and cw links with ottw ScaAS to a 7AiderKng of acce$s lo ts education vffj i)ffer and the facilbes w eryoy. Bursary Pollcy GovemL¥S view cu tAffsary •rdrd5 as impNtant lo enswe chibjren from families who would otherwise rt be atle lo afford fees can access the education we offer. Our bursary awards are aVailae to all vhK> meet our general enty requiremerts and are made sol on the basis of parental means or lo relieve hardship whgre a pupil's education and future wosFécts olheMse be al risk. for example in the case of redldan¢Y. In assessing means. we take a number of facth it) ccThiderath)n I1J1n9 family iicome. investments ar• savings. arKJ famty circumstances, lor exwnple depdanI relalrves the number of sibliigs. However, the S¢l)ool does not have a large end(y•thient and in fuThJing tsjr award5 y have to b? mindful that VP musl ensure balance bets4een f88.paying parents, ma)y of make cortsidWe personal sa¢fifi¢e$ to fvThJ their ¢hld'$ education. and those benefth'ng from the awarts. The bursary awards r*tge from 10% w 11Jrh remis5Th offees. Furtfw details of our trr$8ry p)Itcy hthv to apply are avarfable our website. The ssS of tsjrsary scheme is explained in miew of aCtitieS and achlevements sec11 ofthis rwL Page 9
SILCOATES SCHOOL GOVERNORS REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT {¢ontlnuod) scho1h1P Pollcy A limited number of scholarsh$ are awarded it is appwent th8t an irKthvidual's outstan¢thng abilty wil asslst other pupils lo develop and improve due to Ihe sctK)lar's contributi lo school lile. On that basis. all awards carry clear expedalions of irNolvement ¥JFlicatKJn tl¥s includes representing the School al vari¢xB fundions. All stholarship$ are subj'ect to an amual revww againsl progress effort. The School expects all scholars lo be rol8 models through their arKI their posilive cOntrib)n to Ife 01 Silcoat88. The purp)se cl cw schc4arship is to recowise hi academ FQtentid crf the alility to excel in our exlr& cuthcular acVILle5. A¢ademi¢ s¢hol$hips are awded to ItrKJse enleriThJ the Schod. 4the¢her from the JLmior School or from elsththere. vtho have shown outsknthng xademic atainmenl. The vth8 of the scholarship awarded is as at th8 discretion of Ihe Headmaster but the remiswon wll te no more Ihan 20% of the fvll fees. Where further assistance Is requir, scholarship wards may be swented by a mearts tested bursary. Music schol&ships are assessed by auditi"C arKI thrgh prxkal assessments. scIars receive free tLMtKJn in up lo tsvo mslruments {or in ngiThJl, vlith the expectalbji that tw Vil play a lea¢TrJ role in the mu$ performarw and ensembles avlatAe at Sithates. Art scholarships are assessed by the of a F&Ntfc4 aTrJ thr(x4h pract1 assessments. as devlsed by the Head of Art A remissi?n of to 10% of the fee is awwded. Sp)rting Scholarslips at Sikoates may be th¥ded to existiYJ and new Year 7 arnl &xth Forni students who demonstrate ctstandirj ablty in a swt for thr age C. There are types of sport scholars al Sithales: Full scholars and Honorary stholars. Honorary s¢hol¥s are often wable lo commit lo representiThJ the S¢hool due to a number of extema factors such as tranirwJ a1 T¥j commitments ¢xrtSkJ8 of SclK)oI. Honorwy Schol beneffit frixn.. P8Tsonalised $lr8ngth ccmdibwiT¥J trainir¥J Individual mentorwig from the PE department Full scholars benefft from: AU of the alve u$ an award equal lo a 10% remissTh in S1 fees. We advertise the avalabilty of sdK)larship awards annualy in the loc4 press arKI brya s1?1 media. Furth details of our scholarship polw are avaable cffl wr ti$ll8. Asslslanu for Our T•achlng Staff As part of ow emphasis attrling and reta¥iirvJ l¥gh Cle staff. offer, at the disc¥etK)n of the Governors and sut¥'ecl lo from time to time. a th%>xmt sc1me v*re staff MberS choose to educate their chlkjren at the Schcol. Page 10
SILCOATES SCHOOL GOVERNORS, REPORT (CONTINUED) FOR ThE YEAR ENDED 31 AUGUST2024 STRUCTURE. GOVERNANCE JJID MWIAGEMENT (WrtInuj Flnancial Plannlng Poll¢y rimely financkal plning is often key for many parenls NKI are Iping to send Iheir chihjren to Sikoate$ School and a sth)ol fees Flan is available to help t1 %%ish lo fund educational costs through regular contributim5. Famlty DItsnts Pollcy To undertine ¥the we place ¢Ilty tor f1@5, Lrffer dlsc¢xts wthere parents have more th t children al th8 School. Plans for futur• p•rlads The GoverTrJrs intend to conlinue Iheir currwrt strgies crfmalnknirKJ the School's position in a ¢ompetitive martel by investing to provide high quality for ow pupils. A¢hie¥ing a high standard of academic results wth signrficanl a¢JdedVa1 1$ a constant aim, ¥Mle MaintIng br8adth and depth of Ihe education provided. The Headmaster and senic staff conlirM to review the currlUM to ensure that the educational qUlIcationS remain appropyiate for pupls. devdcynenL Our future plans are finarKed prwnarily frcrfn fee inccrfne from our reser& The Govemors need to maintsln an equitsble ba1ce. ensuring our cirrent pupls trfit vthe. at the same time. ertsuIg a sound infraslrLthre and financial base are weswved the next generation of P$ in the same way as ¢)ur current wpi15 benefil today from Ihe investment m&le in the past. Govemors are mlndfijl of the increased pressures on families du& lo the impogiion of VAT on sthrK4 fees and contnualty rebryvw the S(ts)ol's cost base and curricuM to ensure efficiencies. The Govemors view our bjrsary and xholarship wards as imp1 in ldenry access to the edLKation our sthwl provides. and they ar8 rr?rY revw¥3 our OKies to enswe that able chlldren ¢an a¢¢epl offers of pla¢es at our sthool IhrowJh the avaiwlty of mSte$j fee assTrslance. Mantsining d. wlEre necesw. the fthc facliti"e5 of the Sclbx4 is tontral to our Strategy oThJ the Govemry5 remain c¢ynmitte¢J to rJwirKJ enh8r8ftt tte$ avalable to ow pupils. Dovelopm•nts and Malnlonan The G0Vem and Senw LeaJershSp Tewn further debElop our 1(kr Ct$ Dev8Wment Programme in the yew ahead, adth.ng to our annual roth.ng programme of departmental refurbishmert. We aspire lo th followng major devthpments in ow f1"e$, as ai4J Vlhgn possile. A new combined KS1 and EYFS faulty Refurbished and new scie1e Lab)ratryy faohiEs Improved access arr1 the eamws A5 part of our Ierrn FI. il also look to [¥0P our sustamatilty ageThJa. seeking of moving lo • l¢y or carboTrn8utral powtion over I"me. We are cogr#s8nt of the Govemment's aim for sthools lo become carbon-neutral by 2030 and to apwnt a Su5tartilty Lead next academK year will slefrr schod towards this target.
SILCOATES SCHOOL GOVERIK)R REPORT ICONnNUED) FOR THE YE ENDED 31 AUGUST 2024 Dlsclosure of inforfflion to audftors Each of the PeonS ar8 GoTrY$ at the tyne Goverrm. Rept Is 4)proved has confirmed that.. so far as that Govemor is aw¥e. there is no wek¥t of •ch Ihe charitys auditors we Lmaware. and that Govemor has taken al the steps that ought to have been tsken as a Govemor in order lo be aw¥e y relevant audl iiformation to establish that the Charitys aLMIth are aware cl that information. Audltors The aLKlitors. cfrie Owen LLP. have fftth'caled tsir to conknrw li office. The desigwt8d Govemors wll prcpose a motion reapp)irthry ts au(ItcYs at a meetiThJ of Ihe Goverrnrs. Approved by order ofthe memLrs ofts Board lrfGOven on.................................................................... aNI signed on their behalf ty. Mr David Payling (Chair of Govemor5) Page 12
SILCOATES SCHOOL STATEMENT OF GOVERNORV RESPONSIBILrrEs FOR ThE YEAR ENDED 31 AUGUST 2024 The GoverrKf8 are resporysible for Fwaring ts Govwnors, Rep and the financial statements in a¢cordanr th appli¢aWe law and UrNted KIffjdn Sland¥d$ (UNted Generalty Accepted Accwnting Praclicel. T1 law applicable to chwities In Ernd & Wales re(wi5 Ihe Gov8mS to wepar8 financial statements for each financial which give 8 true and fair vith¥ of the state of affaiTr of tIE Chm and of its incoming resowces and aprAication of resources. i)clix1ing its irKome aThJ experrtyilwe. lor th peri¢xl. In preparing these finarKial stalemenls, the Governors a required to: $¢le¢t suilable accounling wlicies WKI then apply constty. observe the methods a1 prinaples of the charib.es SORP IFRS 1021: make judgements aTrJ accounting estimates that are reasonable and prudert state whether appJicab18 UK Accounting StaThJards (FRS 102} hove been fdl¢ywed. subjed lo any material ¢Jeparture5 disch)sed and explained in the frncial slemerts: prepare the TcIal slalemenls ihe g(wvJ (yxKem basi8 thless rt is inappropriate lo presume that t Charity wll continue in busww. The Govemors are resrxjnsible for keepNig atsquate ac(U1j records trt are suffKient to show and explain Charrtvs Ir8ns8CtJns and disclose reaSuble araCY at any t¥ne the financial position ol the Charity and enable them to ensure that Itk finarKial sla18menls cLwnply wth the Chariiies Act 2011. the Chanty (Accounts and Rep)rtsl RegLlations 2008 and th8 Wow1( of the Chafity Commission Scheme. They are also responsible for safeguarding the a5sels of Charity and hence kn takmg reasonable steps for the prevention and detection of frwd and 0r irregLdarities. Approved by order of the memtws ofthe 8od of GO¥eM and ned ils thaff ty. Mr Dayld Payllng (Chair of Governors) 23JwE 2025 Page 13
SILCOATES SCHOOL INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SILCOATES SCHOOL Oplnlon We have audrted the Fiftan¢ial sts1emts of Siknates Sclwl (the fharitl} for the year ended 31 August 2024 which prISe ts Statemgnl of Financid A¢118$ IlnctrpNatiThJ IrKome and ExFendrture Account). the BalaKe Sheet, the Stment of Cash Flows and the lated les. induding a summary signfficant accountiw policies. The finanual reporting framerrfk Ihat has beon apph'ed in their preparation is applicablelaw and United "ngdorn Accountiro St8ndards. includirJ Fin1#1 ReFortiThJ stdard 102 The Financial Reporting Standard appluble in ts UK and RepUl1C of Irel' (United KIrth Generally Accepted A¢¢ounting Pr8th"cel. Flnanaal Statements In our opinion Ihe Finanual Stments.' give a true and fair view of the state of the ChariV$ affairs as at 31 Auwst 2024 and of its incomiThJ re80urces 8fKI apIe80n of rescrtr¢e$ for the ar then eIed.. have In FKoperty prepared in aCC¢Yd ¥th United KId0M Generaty Accepted A¢¢ounting Practice" and have been prepared in aCCfjrd Ihe reqwements of the Ch¥iks Act 2011. 8as5B for oplnlon We eonducted our aL1t in adafj tAilh 1rtwnatY Slw#Jards on AudiliNJ {UKI IIS4s (UK)) and applicable law. Our responsbilities uThJgr those starKl¥ds we further described in the Auditors. resp)nsibililigs for the audit of Ihe Fan(Ya1 Statements secb'on of our rewt. We are lndeperKlt of the charty in acccffdance with the glhical re1ments that are relevt to ¢)ur authl of the Fwcial Statements in the United KIdcn. includi the Financial Rewrb"NJ Couneifs Elhi& SlaTrJard. aThJ have fulfilbed our other ethieal resF¢n$ibililie$ in acccrfdance wth these requiremerts. We telieve Ihot tr aKlit eviderKe have obtained is sufficient and apprcoriate lo wovwje a basis for our QFIn. Con¢luslons rglatlng to golng conc¢rn In wditing financial statements, have C£Kthd the Govc¥s. use of the goirvJ ccmcem basis of accounling in Ihe Fvaration of the fin181 statements ts appropriate. Based on the wort have p&fomed. we lve not idwdifwl •y mrt uncertainties rdating lo events or corKlitions that. individually tx cc41eclNely, may cast sIgn[an1 dwbt on the CharWs abllity to continue as goiNJ concern for a period of a least fy¥e Months from Ihe fina1 statements are authorised for i5SU8. Our responsiblrties and the r¢sF¥Miblitw of the Govwr)rs ith respect to goirwJ concem are descriw in the relevant sections of this rep)tL Othèr Infomiailon The other intonnation comprises the irfomiabcm wKkxled n Ihg Arnl Rewt other Financial sts1emts and our Auditors, Rew1 thereon. The Govemors are re5p(fftsible fw the other infomaliLN7 contained ithin the Amual Repfxt. Ow opirion on the Stalemwts th)es not cover the other information and, except to the extent othenmse exphauy stated in our rewt. do not express any fom of assurarKe ¢onclusion the. Our responbi"ty is lo read the other irrfomiation in lThJ so, consider 4thether the other Infomiation is materially inccfflsisterrt vmh the FinarKl Statements or our kTh)vAedge oblained in the course of the audit, or otheTwse appears lo be materiaty mL8Stated. If idenbfy such mal&rial inc(msistencies or apparenl Matal misstalemerts, are requred lo d8tem11 whether this gives rise lo a mateml mi$$tatomenl in thg Finanaal Ststemenls themselves. W. based on the wort have Ferfomied. we conclude that th8re is a materid mbsstatemert of this o¢her lrtwma1K, are fequ&Y to repcÉ Ihat fact. We have lo report ) thls rewd. Pag• 14
SILCOATES SCHOOL INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SILCOATES SCHOOL (CONTINUEO) Mattero on whlch wo are r•qulvgd to wwl by •X¢on We have nothiThJ lo report In resF( of th¢ f¢lkyAvu mattws wwe the the Charities Act 2011 wuires us to rewt to you 6f, in cpinion.. the infom)ation &4ven in the GOvr)r9. Rwl 1$ VWlSni in matwial resm wilh the Financial Statements.. or sufficient accounthj records PAve nc4 been kept.. the Finanoal Statemerts are r#)t in 4reement the acc(nj re¢tyd$ and retum$,' ar we have not r¢1¥¢ al InfMallOn exyalatiS requre for ow a111. R•spt)nslbllltles of Governo As expl81d more frAly in the Govemors. ResrJBiblilies Siaiement, Ihe Govwncws are reSpSIble for the preparation of the finela1 statements and for such intomal controj as tr Govemors detemine is necessary lo enable the preparath" of Statwnwts Ihat are free frcffl material misststement. due to fraud or error. In preparlng the Financial StaiemeNs. the G0VenK e fespon&b* for assessing the Charivs ability to ContUe as a going Corern, discbgng. as applttble. mattets related lo going nCern and using the wiNJ concern basis of accounting unless the GorS 4ther intend to IhwAJate lh9 Charty or to cease eratIe5, or have no realistic ahernab.ve but to do so. Page 15
SILCOATES SCHOOL INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SILCOATES SCHOOL ICONTINUEDI Auditors, mponslbllltkns fortho audlt ol the fin•n¢lal stat•m•nts We have been winled as audrtor under secticffl 144 of the Charilies Act 2011 and r8F(Jrt in CordanCe with the A¢t and leY¥t regulations made or havry effect ihereurKler. Chjr obje¢tives are to oblain reasonable assurance atmxrt Ihe Financaal Statements as a Ole are free from ma18rial misslalement, v•hethw lo fraLvJ or err. to 15$ue an ALKlrtors' Rewrt that inclLKles our opinion. Reasonable asswance is a hh levd of assure. but is nol a guarantee that an audFt condu¢ted in accordance ISAS IUKI Y+ill always d8lect a material misstatement when it exists. Misstalemenls can arise from fraud errc and are ¢M$idered fflaterial rf. ilivIdUallY or in the aggregate. they could reasonaNy be 8XkCted to ¥)ffluence the economic of U[$ taken (m the ba&'s of tr6 FunCial Statements. Irregulwities, including fraud. are inslances of rw1¥cFllae wilh la aTrJ regulalh)n$. We desvJn edureS in line with our r8$PsIbIlities, outlined above, to detect matla1 misstatements in respect of irrewlarities. in¢ludiThJ fraJ. The extent to our yocedures are capabl8 of detecting irregularities. 1ndth.ng fraud is detaiknl below. We Lmdertake the folthn9 procedures to Ayenbfy reSpj lo these risks of rtfrojnpliarte: - Understanding the key legal and regulatory framew(Ns that 8re appficable lo the Charity. We communicated identified laws and regulations throughout drt team and remained alert to any indKaticns of ncCOMpli8nce throughout the audit. We determined the most Slgnificant of these lo be aroLmd Employment law, Chaiity law. Health a1 Safety Law. Fd Hiene regatIonS, TaxalN and GDPR - Enquiry of Govemfxs management as to Wd85 to en$Lwe compliance aThJ any knovm In$ceS of non-comklianee . Review of board minutes arnl ¢(¥spe ilh rewLors - ETh]uiry of Governor$ and managemert as to weas rfthe knncid sLements $pIll? to fraud and hthv these risks are managed - Challenging management on key estimates. assumpti$ IeMentS made in the preparation of the finanaal statements. These key areas of urKertsinty are thsdose(l in the aCcnj p(AleS - Identifwng and tegting unusual Irnal entri8S. •th a parlicular fotxjs crfb manual lourr[ entries Throuth these wct•JL¢$. we di¢J not beccThe aware of actud or su5[d rnCOMp1vJn¢0. We planned and perfc¥med our audit in xcordanee Tth alling staThJards but V•ing lo the inherent Ilmitations of predre$ required in these areas. there is an unavoKlable rk that we may not have detected a material misstatement in the aCC<ts. The further remvrfed rn-ComPkanCfr wlh laws and gUlationS is from the events and transactions refiecte¢J in the financial statements, the less h'kely we V•Y)uld beccthe aware of r(. The risk of not deteclt'ng a matefial misstaknent due to fraud is higher than the risk of not detectirJ one resulling from error, as fraud may involve corKeaknent, cdIuSn. forgery. misrepresenla1icr. CK overrKle of intemal ccffitrols. We are not responsible for weventing n0COmplIanCe ar camot be expgcled to detect n-COmpliance wlh all law5 and regulations. A fwiher descriptKJn of ow responsits"lties aJIt crf ts Finala1 Statements 18 located M the Finarthl Reporting Council's websrte at.. ¥NAV.fr . Thi$ des¢riptiffi fryms wt of our Audit$, Report. Pag• 16
SILCOATES SCHOOL INDEPENDENT AUDITORS, REPORT TO THE IIEMBERS OF SILCOATES SCHOOL (CONTINUED) U$• of our rgport This report is made solely to the Charitys Govemors. as a t*xty, in &cordance wilh Part 4 of the Charities (AettnIS Reports) RegUlatK$ 2008. Our avjit has been uThgertaken so that we might stste to the Charitys trustees those matters V•t are reqred lo state to them in an Auditors. Report and for no other purpose. To the fulest extent pennitted by law. we th not aecqrt or assume respcsIblIty to anyone other than the Charity and ils Iruslees, as a tfj. for our audil vKrfk, for thi8 repcrt or kn the opiniorks we have formed. Christopher 8uMOnt BA IH¢)nsl BFP FCA DChA Clive Owèn LLP Chartered Accountants arKt Statutory Auditors 140 Conis¢liffe Road Darfinglon Co Durhan DL3 7RT Dale: 2< Ch've Owen LLP we to act as aKltrs in temis of sectiffi 1212 of the CLYnpar¥e$ Act 20C6. Page 17
SILCOATES SCHOOL STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING tr4COME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2024 Total fvnd$ 2024 £0 T(rtal funds 2023 £000 funds 2024 fund$ 2024 £000 2024 Note Incom• and èndowments from: Donatsorfj arKI legacies Charilablo aCtrytreS 161 7.089 161 7.089 6,353 Total incoma and endowm•nts 7.250 7.250 8,355 Expendltur¢ on: Chatitable activities Other expen(Itwe 6,109 189 189 Total •xp•ndttur• 7.281 7281 6,293 N•t movement In funds (31> {311 62 Re¢onclllatlon of fvnds". Total funds tKought forw8rd Net mo¥ent in fvnd$ 6,769 {31) 629 7,430 131) 7.368 62 Total funds carri forward 6.738 32 629 7.399 7,430 The notes on pages 21 10 37 fcwm p¥t of these ffir*nual statements. p18
SILCOATES SCHOOL BALANCE SHEET AS AT 31 AUGUST 2024 2024 £000 2023 £000 F5x•d assots Tangible assets 10.328 10,533 10.328 10.533 Current aets Stocks Debtors Cash at bank and in hand 10 13 1.838 279 11 277 2,130 Crgdilors.. afflowts falling due W1n one year 12 12.917) (3,3651 curn6nt liablllti•B (1.029) (1.235) Total ass•ts lus curr•nt IlablUtI 9.299 9.298 Creditors.. amwnts faling due after mcf& than one year 13 (1.9(M)} 11,868) Total net assets 7,399 7,430 Ch•rliy fund¥ Endowment fijnds Restricted funds Unreslricled funds 15 15 629 629 32 Desiated furwjs General funds ReValuatiC 15 15 79 3.521 3.138 3,405 3,364 Total uNestri(ed fLmds 15 6,738 6,769 Total fund• 7.399 7,430 The anCIal 8taiements *re appro¥¢d ar#J ftx i5sug by the Govemors aThl signwj on their behalf by. Mr Davkl Payllng {Chair of Goverrnrs} The notes on pages 21 to 37 f(Ym of finar statements. P•Je 19
SILCOATES SCHOOL STATEMÉNT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 £000 2023 £000 Cash flows from 0ratIng actlvlllws Nel cash used in co&airKJ aCtIvrts 17 799 704 Cash flow$ from Invostlng acll¥ltbs InteT851 Purchase of tang¥ble fixed assets (1891 (2661 11841 (3731 Nèt ca$h us•d In Snv•sting acliYltl•# 14551 1557) ash flow8 from flnanclng actlvlths Cash inflow8 from new t¢rrrJ RepayTnenls of bong Repayment of overdraft 2,020 11.626) 1370) (1S4) Not cash provid•d byl(us•d In) flnancing actlvitles 24 1154) Chang• In cash and eash •qulval•nts In tho yoar Cash and cash e(wivalents at the begiMirvJ ofthe ar 368 17) 191) 184) Cash and cash •qulval•nts at th• •nd ol the y•r 18 277 191) The notes on pages 21 10 37 form pt of Ulese finarKial statements Page 20
SILCOATES SCHOOL NOTES ro ThE FIIIANCL4L STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollclgs 1.1 Basls of pr•paratSon of fi¢141 stalem• The finan¢ial $tslement5 he been wepared in accordarKe Mryth the Charrties SORP IFRS 102)- Accounting and ReptIng by Chariiies". Statement of Recommended Practice applicable to charities preparing accounts ui aCrdarte the Fr1 Reporkng Stand¥d applicable in the UK and RepublK of Irelan¢J IFRS 1021 (effective 1 January 20191. The ffinanaI statements have been prepared under the hislorial ¢ost nVentI)n th thg eXCepb of fixed assets wtM"ch are included at market value. as modrfd by the re¥akMtion of certw assets. The Governe3. having ¢e aThJ erry 8nd reviewing prepared forecasts. are ofthe cfinion that Ihe has &lequate vNking ca1 to execute its operations ovar Ihe xI trelve monlhs. The Governo, therefore. have made an infomied IgeMent. at the time of approving the finanryal slal8merts, that there is a rea$lable expe¢tation ¢hat Ihg S¢?01 has adequate resources lo cmlinue wi Operatic81 existence forthe fores8eable fvtur8. As a resurt the Governors have cothnued to adwt thè goi ¢cMKem bas of acccxmtry Ni weparlng the anThJ81 financial statements. Sikoate$ S¢h¢x4 constimrtes a publK erty as defmBd by FRS 102. 1.2 Fund a¢ntIng General funds are unrestrided funds vAMch we available for use at the discretion of the Govemors in furthwance of the general obj'edives of the Charity a1 thch have not been designated for other purposès. Otsignated fuTrJs comkTh eStrIcted fiwKls that have b8en set asKle ty Governors for particular purposes. The aim arKI w ol eath desiffied fund is set out in the notes to the financial statements. Restrted fijnds are fund5 are lo be in acc£lidae wilh speuhc r8Striction$ imposed by donors which have been raised by the CW for particular purposes. The costs of raising and administering sh funds are charged against the specific fuThJ. Th8 aim and use of exh restrtcted fund sel out in the notes to the fan(la1 statem8nts. JI fina1 actl¥ities in the cwrent WKI we rdatro to unresttithd fvnds. 1.3 Golng ¢onMrn The Govemors assess wth the use of 9JW c(xKem is apwopriate i.e. vthether Ihere are any malarial wcertainlies related lo ev* ¢y coTh1b0ns ttt may cast Significant doubt C the ability of Sch1 to continue as a goir4J con. Govefnor8 made this assessment in respect of a perifrj of a le8St one ytar the date the fcial staements are apwoved. P4e 21
SILCOATES SCHOOL NOTES TO THE FIN4ClAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollclK (¢ontlnu•dl 1.4 Incom• All income is rec(wi9ed On the Charty has enliuemenl to the in¢ome. il is probable that th& irKome will be received arKI the amowjt ol Orne receivable can b8 measured rella1y. For legacies. entittem8nt is laken as the earlier of lh8 d which wthgr.. the Charty rs aware that probate has been granteil, the e5tale has been finaltsed arwj notif1(#} has been made by the execulrfsl to the Trust ttwt a (IstribL1c be m. N when a distribution is received from the ost. Recapt of a legacy, in whole or in wt, is Y eonsidd prcbabk when the amount can be measured reliably and the Charity has téen notrfied of the executorfs intention to make a dislribulion. Where legacies have been nth.fied to the Charity, the Charty 1$ •Yare ¢)f the granlirrfJ of probate, and the ¢riteria for inwne re¢¢3nib)n have not W met, then the legacy is tregd as a contingent assel and tSCIo$0d rf materia. Donated services w faalilies are recogrnsed lien the Chty ha8 contrd over the item, any conditions assc¢iated wilh the d(x)ated rtem Iwe been met. the receirl of economic benefft from tt use of the Charty of the item 15 probable aThJ that ecorK)mic benefrt can be measured reliably. In a¢eordan¢e tr Charities SORP IFRS 102). Ihe general volwteer time of Ihe Friends is not recogni58d ref8r to the Gov8mors' reF<t for more informatKin abwt their contribution. On rgceipt, th)nated swvices aThJ facikn'es are recognised on the basls of the value of the lift to the Charity vthich i8 the il wtyjld have been willkng to pay lo obtain seM¢e$ or facilities ol equivalenl econom on the marf(et.' a cwe5ponding amount is then rècognised in expendiiure in the pericJ of receipt IoMe tsx recoverable in relatn to received under Gift AKI or deeds of covenart 18 recogniseil al the l¥ne of d(ffiation. IoMe tax recovwable In relalic to iwestmerrt irK4Jme is recogni58d al the lime the investmant lrtome is recavable. Other inccffle IS TewNse(l the in thich il is receivable eThl to the extent the si)ods have 1.5 Expendlturn ExpwKliture 1$ recowlsed crte ttwe is a legal obb3atson lo transfer economic benef to a third party. il is probJfe ltst a trster of ecOrw)M b?nefrts wil be wuired in settlement and the amount of the obligalK)n can be measured reliably. Expenthiure is classifl by activity. The costs ot each acliwty ar& made up of the total of direct costs shared cost5. including 5UPPOrt costs involved in undertaking each &Xibity. Decl costs attributatle to a sirrfJle a¢ti¥ty are all¢¢ated diredy to that activity. Shared costs wthich ryjrtr1b to more than one ath.vity aTrJ $LWOrt costs which are not athitrmjtable to a sirKJle actswty a apptylwed bets those activilies on a basis consislenl vith the use of resources. Central slaff costs are alIced CMI the basis of lime spent. and depreciation charges allc¢atad on the of the assel's use. Support costs are those costs Inrred drecty in suppct of expttdiiure on the objects of the Charity. Governance costs are those irturred in ryth Jmlnistrat of th8 Charity compliance con5b"lutional and stalut¢yy reqLiremerts Chari&18 acliifjlies arKI Governance costs we o)sts incurred cm the Charitls ethJcation81 operations. inclu<*ng SUFPOrt costs and costs relating to the govemance of the Charity apportioned lo choritsble xtivilies. l expenditiffe is irthive CA irr0¥ VAT.
SILCOATES SCHOOL IIOTES TO THE FINANCL4L STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 21)24 A¢¢¢xmting polldos (Mnllnu•d) 1.6 TgIble ass•ts and d•preclatlon A revith¥ for vnpaimient of a ffixed asset is rIed rf events or thangas in circumstCeS indicate that the carryg value of any fixed asset may rb)t b8 recoverab18. Shortfalls betsveen the Carn9 valu9 of red assets and their recoverable anounts are recognised as impainierts. Impaiment losses are rec(NJnised thè Statement of Finalar PL$iVi5. Tangiile fixed a$$ets art carried al cost c Valuati . net of depreciab.on aTrJ any pro%&rysion for impairment. Oepreoation is FvIde{l at rales calcAdated to VYite off Ihe cost or valuation of fixed assets. k$$ Ihei¥ eslimed resMILHI vaue. er th1 exFcted useful lives th8 follwng bases.. Ffeehold woperty Land Flxtures ffittiThJs . 10. 50 yS 5trawt Iw)e . not deFfecie(I . 1- 20 yws strw llie 1.7 L•aslng and hlro purch Asset$ olXah)ed uThJw h're purchase contracts Wwj leases are capilaised as langit4e fixed assets. Assets acwired by finarte lease are deprecwled over the sh)rtw of the lease tem their useful lives. Assets acqLMred by trire PLrchase are depreckgled over their usefiA live$. Finan¢e lease$ are tFwJse vthere Sthstantially al of the benefits and ftsks of ¢)wnership are assumed by the Charity. Obligations under SLKh agreements are irthded in creditors, net ol Ihe finance charge althaled to fLrture periods. The finance elem1 of the rental payment 1$ charged to the Statement of Financial Activities (Incorpalij Income and ExperKlilwe Account) so as lo produce a constanl periodic rate of th¥ge on the net obligatmin 1standIng in e&h p. 1.8 Op•ratlng leas•s Rentals paid under operobng leases cwed to the Slatemenl of Financial Acliwties {InCor[aling Income aNI Exp.1 Aecou)t} a Straht lin& basis ovei the lease lemi. 1.9 Stocks Slctks are valLd at Ihe of c( and eimated sdl4YJ lee kn o)sts to 5811. 1.10 Debtors Trade 8ThJ olhw debt¢$ ¥e rwmsed at the settlemenl amourt after trade discount offered. Prepayments are valu&l at the aMot wepyd rnt ofwy trade diScots due. 1.11 Cash at bankand In hand Cash at In harm1 inckKles rash a1 sI1.1M ligNy liwid inveslmerts wilh a maiurty ofthree Mont less frcn the date of ol the dèposit or similar aceounl. 1.12 P•nslons Th8 Charity operates defrnd cortritth perts s¢lkmes lor slalf. Ccffltributicms paya>le to th& scheme are charged to the statem of Fintirtia Actvitss in the Fer1 to which Ihey relate. Page 23
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 AcMuntlng policios {Mntlnu•d 1.13 Llablllil•8 provhlons Liabilities are recognised 4¥lwi Ih¥e is an ligatiOn at Ihe Balance Sheet date as a resLdt of a past event. it is probable that a trsfer of eccrKrfnic b8nefrt wil b8 required settlement. and the amount of the settlement can be estimate(l atlbe$ are recognised at the amount that the Clwity anti¢ipate$ il will payto setue the debt or the amount it has receNed as a0%Md p8m fw the wds or Servi it must pro¥id&. ProvisiLMS are measured at the best estimate of the amixmts wired to settle the cligation. Whore the effect of the time value of material, the provision is based on Ihe present value of those amount$. discounted at the pre-lax dISnI rate that refigcts the risks specific lo the Ikgbility. The unwinding of the discount is recognised in the statem of FThncid ActNitses {IncorK)rats'rKJ Income and Expenditure Account) as a fnce cost. 1.14 Flnanclal Instrumènts The Charity only ha$ finanu assets ffiancial I'1111e$ of a kyid that qualify as basic finandal inslrum8nls. Basic finanual instrLwnents we Thtialty recognised al transxtion value and subsequently measured al 1r settlement wal V•ilh the excekXion of bank lo8 wNch are subsequently measured at amorhsed cost usiNJ Ihe effeclNe mteresl method. Critlcal accountlng estlmatgs •MI rn$ of judgem Estimates and jwlgemerts are COnualty evaluated and are based on historical experience and other for$. induding expe(lath)ns of fuiure events that are believed lo be reasonat48 under the cumStars. Cfitic aCCOLWrting estimates arKI asswnpt1$. Debtor provision - There Frovisions indthjed Ihe fin&xial statèments.. fijll provision arwj partial prowSn. The full prowsion provides lo ol balan that e not considered to be recoverable. The partial wo¥1c prowdes for bkns thal we dcwbthJl debts. The total bad debt prowsm within the finla1 sLmerts 1$ £159.000 (2023.. £118.LN))I. P•Je 24
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from donatlons and l•gaci•s Unrestricied Totsl funds 2024 £fy)o Tota funds 2023 £000 2024 Dcfflations 161 161 Total 2023 Income from charila)h I1vIll•S Unresmed fLmds 2024 T(rtal funds 2023 £000 funds 2024 £000 Educati1 charitable acli¥ities 7.089 6,353 Tolal 2023 6.353 6.353 School feè incom• 2024 £000 2023 £000 Gross fees Los$". total Ir$aes. grants a)d allowartes 7.619 1714) 6,815 {631) 6.905 6.184 Oth•r oducatlonal charitabl• a¢itl¥lllo8 2024 £thJo 2023 £000 Music tuilt 105 93 105 93 Page 25
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Oth•r anclllary activitkns 2024 £000 2023 £000 LetlirvJs and other income 79 76 79 76 Analys1$ of expendituro by activiti•s Direct costs 2024 Survort costs 2024 Total funds 2023 £000 funds 2024 £0 E¢Jxonal chwitable tilieS 3.881 3.211 6,109 Total 2023 3,430 2,679 6.109 Al expeJ11Ure edat1(a charitat4è actr4its was to unrestricted fuxls in ix)th 2024 aThJ 2023. Anatysls of dlrecl ¢08t¥ Total funds 2023 £000 fvnds 2024 £000 3,154 309 418 2,795 236 399 Educational Se$ Welfare ¢o$l$ Total 2024 3.881 3,430 Page 28
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEMEMT8 FOR THE YEAR ENDED 31 AUGUST 2024 Analysls of èxp•ndituro by acti¥hi•s InIVed) Analysls ol support ¢o$ts Total fvnds 2024 Total fvnds 2023 £000 Staff cosls Depreciati Premises 1,635 471 1.404 382 530 275 709 269 37 28 Technology c05ts Bad debt ptovision Professi(M¥ lees 53 Totsl 2024 3,211 2,679 Othw oxpondllurg Unrestricteil lund8 2024 £000 Total funds 2024 £000 Total funds 2023 £000 Bank intexest par4ble 189 189 Total 2023 Not IncomellExpendllur•) Ttris 18 Staled after ch¥giNJ: 2024 2023 £000 Depreciatp)n of tangible fixed assets Audllor$' remunera1l- aLKlit Auditors. remunerati. non4Lhfrt servK Operairvj lease rent81s 471 382 14 11 30 549 430 Pag• 27
SILCOATES SCHOOL MOTES TO ThE RNAMCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2024 Staff Costs 2024 £000 2023 £000 Wages and salaries ial security costs Othef pension ¢osts 3.974 373 3.477 332 390 4,789 4.199 Th& average number of p¥s$ employed by Ihe Charitythrirwj the was as follows: 2024 2023 Teachl Administration arKI stpport aff Premises. catering arKI port$ 65 48 30 60 27 143 133 The nwnber of emF4oyees Ythose emplo beneffts {exdl1ryj employer pension cosls) exceeded £60,000 was: 2024 2023 No. In the batKI £60.001- £70.OCO In the baTrl £70,001- £80,000 In the baThJ £100,001- £110,L In Ihg band £110.001- £120.fKy) Total remweration recewed by Ihe key management of the sdwl was £522,000 {2023'. £395,000). ofwhich £62.00012023 £42.(W) rdated to empWrfs Pensi cffltrbutions. [rITVj the yew, Governors rKei¥ed any iemmwicffj P023. £). thjring the year. ro Govwnors received any benefrts in kind {2023- £nil). rir¥J the year. Th) Govemors rttVed r*mbursement of expense$ totalry £nl {2023 - £193 to 10 govemors). Page 28
SILCOATES SCHOOL NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Tanglbl• fix•d as88ts Freehold Fixtu$ and property fittir4Js £000 Tcrtal £000 Cost or valua¢lon Al 1 Seplember 2023 Ad(lilicfis 10.010 3.718 257 13.728 At 31 August 2024 10,019 3,975 13.994 Dgpro¢latlon At 1 September 2023 char for the year 451 2,744 245 3.195 471 At 31 Auwst 2024 677 2.989 Nèt book valuè At 31 August 2024 9.342 10.328 At 31 August 2023 9,559 974 10,533 Cost or Valuabon al 31 Auwst 2024 is as folknvs 2024 £000 2023 £000 Al cost Revaluati( in 2014 Revaluati ji 2021 9.420 120 479 9.411 120 479 10.019 10.010 Page 29
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2024 If the 18Th18nd buildings had not twi irKathd at vakJatIr Ilw Mftyjd have been Induded under Ihe historical cost eonvention as folknvs". 2024 £ofy) 2023 £0 Cost Accumulated depreciath)n 9,411 1677) 9.411 (4511 Net b¢•ok valuo 8.734 8,960 Folow. an earliw site wsrt. Mr BnKe Aln. an Rfcs registered valuer and partner at Cartel Jona$ issued a valuation rep)rt in re$F¢Ct of larby & Ixjikliros al &koates S(*tt4 on 22 July 2021. Th8 valuation usiNJ the depreciated replac8mènl cost basis w8s £9.960.0. 10. Slo¢ks 2024 £(M]o 2023 £000 13 Raw materials nSUmatIeS 11. Dobtors 2024 2023 £000 Trade debtors Other debttys Prepa>Thents and aeuue(l irKome 1.719 28 19 137 1.604 1.838 12. Credltors: Amounts falllng due within OTr• y•ar 2024 £000 2023 £000 Loans and overthafts Pension creditor Trade creditors Other taxation aThJ socia sewrty Obligats'ons under finance lease WKI hire purthose corrtracts Other uethtors A¢¢ruals aThJ deferred IrMe 147 514 47 227 52 208 88 10 97 2.315 10 112 2,371 2,917 3,365 Page 30
SLCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2024 2024 £000 2023 £000 Doforred Income DefeNed iome at 1 September 2023 R¢sour¢es defetred thring the JEar Amounts released frcmm prevKJus periods 2,303 2266 12.303) 2,029 2,303 12.0291 2.2e6 2.303 Irwme deferred in th8 rels to fe8s in¥cMced in theAKe. enrolmèrt deposs. 13. Credltors: Amounts falling dug aftor morn than I9 yur 2024 2023 £000 Bank loans HP liabilities and ffinae Se3 Enrrjment deposits 1.760 1,728 20 120 131 1.900 1.868 31
COATES SCHOOL IIOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 AUGIIST 2024 1& Socurod debts 2024 £000 2023 £wo Hire purchase < 1 Hire purchase 1-2 yrs Hire pwchase 2-5 yrs Bank loans < 1 yr Bank loans 1-2 yrJ Bank loa 2-5 YTS Bank lOar > 5 YTS Bank w(traft 10 10 20 147 147 144 441 1.584 1,172 370 1.926 2.272 The bard( lo$ and overdraft We se¢wed ovw ts fredk1 and bil.n9S. Hire purchase ts secured against the assel to il relates. Tho Chartys Term Loan is to be repaid ¢)w 10 yt¥s. at an nUal inleresl ralg of 2.96% above the Base Rate. Repayments are capital arKI intwes( and are made on a monthty basis. Page 32
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1& Sta¢•m•nt of lunds Statem•n¢ of fund$- curr•nt y•ar at1 Septemt 2023 Balance at 31 August 2024 £000 Trarrafers inlout £000 Imyne Exp&NJiture £000 Unrnstthd funds Doslgnatod funds Silcoatkqns Donation8 79 79 General funds General Reserve Revaluation reser¥e 3.405 7.171 17.281) 226 {2261 3,521 3,138 7.171 {7.281) 6.659 Total Unmtrlct•d funds 6.769 7.250 (7.281) 6,738 Endowment funds Cawtal Speaal furKIs 602 27 27 629 Restrlcted funds John France furKI Totsl of funds 7,430 7250 <7.281) 7.399 Page 33
SILCOATES SCHOOL IIOTES TO THE FINANC STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15. Statemwt of funds (contInu) The General Reserve presents fixKIs umestricted and not designated for other PLwposes. R8¥aluation Re¥8Ne reweswts Ihe wuease in Val of the bJikllng$ fited in the aounts. CaFMlal represents the original ld and tsjikllS endcyAtd to the Charity. speci Funds represents ItK15e frJK15 Thich are reswved fcff sclKlarsh'F6, tmjsaries and fuThJ8. The John France is used for the [rnOtk, siwyt aThl exps1On of Outdo activities and opportunities. &koatians Oonalions I- tre sear. the Okl &oalian$ Assouion was dissolved and the funds transferred lo the School. The Govemors have set asid8 these fwts for purposes hich benefit the orh3inal obJ'ectNes ofthe Okl Slcoatsns Asso¢iakn. During the year a transfer of £226,0 vras made teiwi the Revaluation Reserwe and the General Resefft lo represent the revalued amowrt of the budthrKJs. Paje 34
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15. 8tat•m•nt of fund¥ Icontlnu•d) Slatomont of fvnds- prlor year Bala al 1 September 2022 Balance at 31 August 2023 £000 Transfers irV(yJt £000 £000 Unrestrlc¢ed funds Genera Reserve Revalualion reserve 3.118 6.355 (6.293} 225 {225} 3,405 3,364 6.707 6.355 16,2931 6,769 Endowmenl funds Capital Speaal knds 802 27 27 629 629 Rostrlcted funds John France lund 32 T¢Jtal of fund$ 6.35S {6,293) 7.430 16. Analysh ol n•t a¥s•ts tn furKIs An1$ of not ass?ts betw••n funds . currnnt pwlod funds 2024 £000 funds 2024 £0 fuThJs 2024 £0 funds 2024 £OOD TaThJible fixed assets Current assets Creditors wtlmn ce J Creditor$ <k in mtye or* y 9.726 1.829 (2.917) (1,9CX)) 602 27 10.328 1,888 (2,91n (1,9CQ) 32 Total 6.738 32 629 7.399 Page 35
SLCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1& Anatysls of nat asts•ts b•twMn funds (contInU) Anal of not a$sots bglwwi funds. prlor p¢rlod Totsl funds 2023 £000 funds 2023 fimds 2023 £000 funds 2023 £000 TangilAe fixed assels Currenl assets Cre(Jlor8 due ithin cne )par CtOrS due In more than orÈ 9,931 2,071 (3.3651 {1.8681 602 27 10.533 2.130 (3,3651 {1,8681 32 Total 6,769 32 629 7,430 17. R•conciliatlon of net mov•m•nt In funds to not cash Ilow from op•ratlng activlti•s 2024 £0 2023 £000 Net irKomelexpendituro the ped (as pw Statemenl of Fnancial Activibes) (31) 62 AdJustm•nts for: Depreciati charges Bank inleresl paid Decreasel{increasel in stocks Decreasel{irKreasel in debtors IrKreasel(decreasel in ernJ*ors 471 189 382 184 {131 (1871 276 234 (70) N•t ¢ash provkled by opwatlng acll 799 704 1& Analysis ol cash and ¢a5h •qui¥alents 2024 tooo 277 2023 £000 279 Cash in harKI Overdraft facthty repaydbl& on demaTh (370) Totsl cash and ¢ash ffjulval•nts 277 {911
SILCOATES SCHOOL NOTES TO THE FINANCIAL STATEME18 FOR THE YEAR ENDED 31 AUGUST 2024 19. Analysls of chttng In n•t d•bt At1 September 2023 Cash flw5 Al 31 August 2024 £000 Cash at bank in hand Bank overdrafts and Debt due after 1 Finance leases 279 (514} (1.7281 {30} 121 367 {32) 277 (147) 11.760) 1191 {1,9931 344 {1,649) 20. Capllal comm5tments 2024 £o¢J) 2023 £000 Acquisit of lang1)le fixed assets 21. Pen8lon ¢ommltments Contributicffls amounting to £52.OCKI {2023'. £47.)} Fwable to Ihe scheme at 31 Augwst 2024 and are inth(kd wilhin ueditors. Operating l•a$• commltm•nts At 31 Augu$l 2024 Ihe Charity had cLYnmitrnerts to make fLrtwe mlrwmum lease payments der non- cancellable op8ratry leases as lolkM8." 2024 £0 2023 £000 Not later than 1 year Later than 1 year Mt lr Uwi 5 years 80 163 23 15 243 38 Page 37