Charity numboT,' 1158796 SILCOATES SCHOOL GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 SILCOATES SCHOOL ROfor￿Ce and AdmInIstrat￿ Dolalls of th• Charlty. Its GOV•n￿ and Adv55•rs Gov*mors' R•port Govomors, R•sponsibllitlos Stat•m•nt Ind•p•ndenl Audltors. Report on th• Fin•ncl*l Ststwngrts statement of Financial Actrrfities (Ineorporatlng In￿me 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 M￿h 2024. resiwd 9 February 2C125 Mr Michael Hunter Iresiwe(126 February 20251 Mr Christopher Husttdt (W￿￿ted 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 Account￿19 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 ts￿Ir annual rep)rt ic4*her 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'l￿1eS t￿￿11 requlre to prc￿￿tiVe happy lile. We enjoy a frierKIty and carng commurmty. 5iiuated arowKI a stumiry G8organ m￿￿on arbj 60 acres of grounds. amid the sb'llne$$ and ¢alm of Ihe gloriws We$1 Yorkshire hills. ￿ere inr￿VatIVe and expert teaching is und8rpinn8d by unlimitsd &xp8Ctations and coupled wilh tr￿Y cwlstarnling pastoral care. We aim lo yovide numerous Opp￿tUnitieS 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. •r*Jewdw￿ 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 COMM￿lty 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 ￿leCti￿*S aTh1 rAanniro athvibes. the Govern￿ havo carefulty cxjnsidered the Charity Commission's p￿liC benefft g￿d￿te aKI. as SLKh. reman sMniL¥ to those in previ(￿5 academic years.. To malnt*n 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 hb*ly enthus8d aTrJ motivated.. To continue lo enhance and improve the cocur￿￿ prov4￿ for pupils.. To ¢1￿1n￿O lo develop the fvst class pastoral care that we prowde for pupils". To maintain the provis#)n of meanslesled t￿1$*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 imsK0vwn￿I 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 p￿11$., 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 dam￿d$ of Ihe ¢u￿￿￿1Wn and the breadth of exiracurrthl¥ experierte by Frcgressing the str*gi¢ plan for the development crf the sile.. pursurt of excellence and a deep c4Jfflmitmenl to the progress of all PUp￿s. HIEVEMENTS AIID PERFORMANCE a. Academlc P•rformanc• The school woudly ￿n￿nced an impreswve A Level pass rate of 100%, 43% of boys and glrls achieving th8 top A" A grades Am¢Y￿ these. 11 $I￿lents celetrnled achiev1￿j at least three A'_A grades. Addilionalty, 97% of all ￿1verS￿ 4)pIKanls secured ￿CeS at fjistnal dech"r* top GCSE gades. Sk¢Mtes is to report a nok*¥le rise in these grades. refieth.ng the streT￿h of its xademic aFvo>*. The schcd is especially pleased with ￿ 18% increase in the percentage of grades 9 10 7 ccrfnpared to prfrpantsnyc resutts from 2019. and a 3% mcrease from last yearfs ex￿lIent results. Furthemore, 66% of all subject grades earr*d by awarded at grades 9 to 6 Iformerty A. to B}, represenliNJ a 16% increase from tr* wtrpaThJemic results of 2019 aThJ a 2% increase from last year. In a demonstration of &grthanl and Ihè added of a Slcoates, ￿catIOn, the pe￿ntage of 9 10 7 grades awarded thls year 1$ 8% higher than predicti￿¥ fr￿ the slLbJgnts' gxlernal baseline ossessments. taken at 11+ and 14+: reaffirmir¥J Silcoates. commitmwrt to a(trJiw svJtyknnt value by Sh￿ing time and lim& again thal Ihere a￿ no ￿lif¥j$ ch'lthen ￿ **ie¥e in a SCI￿￿ seth.ng nurtffts both academic prowess arKI ￿th. b. Assemblles RelIgIo￿ ObBwvanc• The School conbnues to promote Brittsh vatues arMI of faith thr￿￿ a cLwnprehertsive programme of whole-school assemt4.es for the Jurrior and Serior SdKd. We deliver a fvll r*ge of a$semblies marking in partic#Jlar t(￿1¢$ $uth a$ Bl•J( Histy LGBTQ+ Awar9nes$. Domesbc Abuse in¢14Kling Coercive Relationships and more gerwa ttwnes as c￿lMunIty, tolerance P￿4 SLCOATES SCHOOL GOVERNORS, REPORT ICONYINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 ACHIEVEMENTS AND PERFORMANCE (conllnued) c. ¢o*wrfcularAthhl 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 S￿la1 skills. The piogramme of COTrcurricular ac￿.￿b"e5 is ￿nffiCant f(￿ being the main avewe for dwelcying these strengths. vthere we combi[* the perX￿81 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 a￿j remains an lmrKrf￿I p*1 of a &koates education. House Mu81c Competiti￿$. Jau evermrys. eoncerts, IwKhtirn8 w8aials in School at Wakefiekl Cathethal are very popular I￿1h w￿lS. stsff, parents. alumni aThJ GoverrK)rs al*e. Ow talent SI￿¥. Silcoates Does raise$ apwoximatety £5.000 for Prefe¢t thosen tharthes on ￿ ar￿¥￿1 basis d. Outdoor Pur4ull$, Expedltlons and Tr*8 At Silcoates, pupils begin tho DLd(e of E(tirtxKth'sAward Scheme in Year 9. We er￿Urage a$ many wpib as possible to lake part in this scheme. offering a range of trainmg optKJrtunities to c￿mplete th8 various levels. mo￿ Ih8n fifty PUp￿S 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 Sch￿1 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 incI￿Je 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 peric*J 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 sehol*thips to 40 based on their oducalicffjal merit and polentlal, tolalling £118,000 and representing 1.6% of ow gross f￿. The prcwss of pupils recei￿n9 scholarships 1$ revk*¥ed annudty to ertsurè rt is wi lirn vAth tt*ir atidiles. The School's Bursaries and s￿l￿hIP 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 sch￿1. we anlicipale t￿$ review wll help inform the development of OLW pclicy ensure the Of￿￿der 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. tAl￿never ￿ we to do $0. Wa have succeeded in continuirKJ to offer cw fadllbes •) supwl of local and naticmal ccrfnM￿Ity knKluding allowrYJ use of Ihe facih'ties to Ic￿1 sp￿ts teams aThJ scO￿s a5$￿￿tEon$. Local prinary schools also use cAJr facilities induding the swmmirg pod and schools we often inwted lo partiopate In sports festh'vals events. Communty Swvl¢o Our pupils are ergaged in a wide range of aclivitTres in thè eommW￿ty. both colkctively and as individuals. Pupils understsnd the value and iM￿rtance of helring thrs. Tvne is Spent rais￿9 8vfdreness of important 155ues like homelessness and pov*. both in the UK ￿ abroad. Donations are coHected and money is raised for good cause$. Oui HaNest Feslival aso wKknles cc41gctiry food and distrik￿ting 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 inde￿IKtertt schools. the Go¥err￿ have invested subsianlial swns into now schcol builduws over the year$ aThJ hav6 a ¢￿tir￿￿ng programme ot rdwbbshmenL development and investm￿1 lo m￿ntain 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 t*gibk assets. p￿1 ar#8 eq￿￿ent. Twas £10.328.OLN). The S¢h¢)ol'$ reserves poitcy r6 based on f• I￿Ure othomes ind￿ling projected cash balances. The Govgrnors are committed lo mainta.nwig and ￿lId1r￿j surpluses ¥1 future years. The Govern¢xs consider that given the strength of the Chartys Bal￿ Sheet. the improwng cash flow over the prev￿U$ few years, the ongc4.ng populanty of sch￿1. and the avalable banking faciliiles that ean be called upon, that there is no current need to build up a fRe reserve. GoiNJ Co￿eM After Maki￿ appropri* enquiries, the GoverThys have a rea$(￿1￿ expthtson that the Charity has adequatè resources to ￿ntINe in Operat￿n￿l eXtster￿ for the lore5eeable ftrture. For ttis reason. they c￿lin￿e to adopt the going concem basis in preparing the finanual smements. Further details regarding the adOpt￿n of the going co￿eM basis can be fourKI in the Wi(yes. Matsrial Inv￿lMentS polky Scr￿1 ￿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 fina￿181 Susianabilty, schoot $afety, student wellare, emptynent. school Irips arKI everts and ccrfnmwity access. Flnan¢l•l Results finon¢ial $t*ments net wttyyng re80wces ftr ¢)n xhool of £31.OLJ). This figure is calculated aft8r depreciation and intefest., cash wtraed from operating aclmbes was £799.000 and cash balances fty Ihe year have increased by £368.000 compwed wth the yew r￿ure. prwicipal source of income is I￿. for 95% ofthe School's irtcthe. see rh)te 4 for further details. The Govern￿$ are ccffjtiNing their stratew of deplty"NJ all net inccrfniry reS￿r￿S lo investing in th8 educational PLwposes arKI f*ric 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 &lco*8s Sch￿[ is a Charitable I￿rated 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 Sc*KxJI (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 ￿ TO￿￿￿e￿ eyperienee of personal grry•Ah. All new Govemors recnmted to the 808r(l in acC￿rdanCe 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 fem*e 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 cornm￿80 crf lh8 Sikoati￿s AsxKiabon may aFVC4nl up lo thrtt {3) Charity GoverrKir$. The Goverr￿n9 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¥err￿s, 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)Vwn￿S is Mrs Emma Swthrson. The daY-l￿daY runniNJ of the Sc*thl 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 ImWrt￿t 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 eXperi￿￿e5 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 Sca￿AS 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 r￿t be atle lo afford fees can access the education we offer. Our bursary awards are aVaila￿e 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 redl￿dan¢Y. In assessing means. we take a number of facth it) ccThiderath)n I￿1￿J1n9 family iicome. investments ar• savings. arKJ famty circumstances, lor exwnple dep￿danI 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 V*P musl ensure balance bets4een f88.paying parents, ma)y of make cortsidW￿e 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 tr￿r$8ry p)Itcy hthv to apply are avarfable our website. The s￿sS of tsjrsary scheme is explained in miew of aCti￿tieS and achlevements sec11￿ ofthis rwL Page 9 SILCOATES SCHOOL GOVERNORS REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT {¢ontlnuod) scho1￿h1P 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 ac￿VILle5. 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 thr￿gh prxkal assessments. scI￿￿ars receive free tLMtKJn in up lo tsvo mslruments {or in *ngiThJl, vlith the expectalbji that tw V*il play a lea¢*TrJ role in the mu$ performarw and ensembles av*latAe at Sithates. Art scholarships are assessed by the of a F&Ntfc4￿ aTrJ thr(x4h pract￿1 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 c￿tstandir￿j ablty in a swt for th*r 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 a￿1 ￿￿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 al￿ve ￿u$ an award equal lo a 10% remissTh in S￿￿￿1 fees. We advertise the avalabilty of sdK)larship awards annualy in the loc4 press arKI brya s￿1?1 media. Furth details of our scholarship polw are ava￿able cffl wr ￿ti$ll8. Asslslanu for Our T•achlng Staff As part of ow emphasis ￿ attr￿ling and reta¥iirvJ l¥gh C￿l￿e staff. offer, at the disc¥etK)n of the Governors and sut¥'ecl lo from time to time. a th%>xmt sc1￿me v**re staff M￿berS 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 (WrtInu￿j Flnancial Plannlng Poll¢y rimely financkal pl*ning is often ￿ key for many parenls N*KI are I￿ping 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 DIts￿￿nts Pollcy To undertine ¥the we place ￿ ¢￿I￿lty tor f￿1￿@5, ￿ Lrffer dlsc¢x￿ts wthere parents have more th￿ t￿ children al th8 School. Plans for futur• p•rlads The GoverTrJrs intend to conlinue Iheir currwrt str*gies 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 Maint￿Ing br8adth and depth of Ihe education provided. The Headmaster and senic* staff conlirM* to review the curr￿lUM to ensure that the educational qU￿lIcationS remain appropyiate for pupls. devdcynenL Our future plans are finarKed prwnarily frcrfn fee inccrfne from our reser￿& The Govemors need to maintsln an equitsble ba1￿ce. ensuring our cirrent pupls tr￿fit vthe. at the same time. ertsuI￿g 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 curricu￿M to ensure efficiencies. The Govemors view our bjrsary and xholarship wards as imp￿1 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 m￿Ste$￿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 enh8r￿8ftt ￿￿tte$ avalable to ow pupils. Dovelopm•nts and Malnlonan The G0Vem￿ and Senw LeaJershSp Tewn further debElop our 1(k￿r C￿t￿$ 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 f￿1￿"e$, as ai4J Vlhgn possile. A new combined KS1 and EYFS faulty Refurbished and new scie1￿e Lab)ratryy faohiEs Improved access ar￿r￿1 the eamws A5 part of our I￿￿errn 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 inforffl*ion to audftors Each of the Pe￿onS ar8 Go￿TrY$ at the tyne Goverrm. Rep￿t 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 memL*rs 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 KIffjd￿n Sland¥d$ (UNted Generalty Accepted Accwnting Praclicel. T1￿ law applicable to chwities In Er*nd & Wales re(wi￿5 Ihe Gov8m￿S 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 con*stty. observe the methods a￿1 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 fr*ncial sl*emerts: prepare the T￿cIal 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(￿U￿1￿j records tr￿t are suffKient to show and explain Charrtvs Ir8ns8Ct*Jns and disclose reaSu￿ble a￿￿raCY 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 0￿r irregLdarities. Approved by order of the memtws ofthe 8o*d of GO¥eM￿ and ￿ned ils t*haff 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 sts1em￿ts 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 St*ment of Cash Flows and the ￿lated ￿les. induding a summary ￿ signfficant accountiw policies. The finanual reporting frame*rrfk Ihat has beon apph'ed in their preparation is applicablelaw and United ￿"ngdorn Accountiro St8ndards. includir*J Fin￿1#1 ReFortiThJ st￿dard 102 The Financial Reporting Standard appluble in ts UK and RepUl￿1C of Irel*' (United KIr￿th Generally Accepted A¢¢ounting Pr8th"cel. Flnanaal Statements In our opinion Ihe Finanual St*ments.' give a true and fair view of the state of the ChariV$ affairs as at 31 Auwst 2024 and of its incomiThJ re80urces 8fKI ap￿Ie8￿0n of rescrtr¢e$ for the ￿ar then e￿Ied.. have I￿n FKoperty prepared in aCC¢Yd￿ ¥￿th United KI￿d0M 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 aL￿1t in a￿da￿fj tAilh 1rtwnat*Y￿ 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 F￿an(Ya1 Statements secb'on of our rewt. We are lndeperKl￿t of the charty in acccffdance with the glhical re￿1￿ments that are relev*t to ¢)ur authl of the Fwcial Statements in the United KI￿dc￿n. 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£*K*thd the Gov￿c¥s. use of the goirvJ ccmcem basis of accounling in Ihe Fvaration of the fin￿181 statements ts appropriate. Based on the wort have p&fomed. we l*ve not idwdifwl •y m*rt* 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 fina￿1 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 sts1em￿ts 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 respon￿bi￿"ty is lo read the other irrfomiation in ￿lThJ so, consider 4*thether the other Infomiation is materially inccfflsisterrt vmh the FinarK￿l 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 Mat￿al 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 repc*É 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¢o￿n We have nothiThJ lo report In resF*(* of th¢ f¢lkyAvu mattws w*we the the Charities Act 2011 wuires us to rewt to you 6f, in cpinion.. the infom)ation &4ven in the GOv￿r￿)r9. Rwl 1$ VWl*S*ni 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(￿n￿￿j re¢tyd$ and retum$,' ar we have not r￿¢1¥¢￿ al Inf￿MallOn exyalati￿S requre for ow a￿111. R•spt)nslbllltles of Governo As expl81￿d more frAly in the Govemors. Resr*JBiblilies Siaiement, Ihe Govwncws are reSp￿SIble for the preparation of the fin￿ela1 statements and for such intomal controj as tr* Govemors detemine is necessary lo enable the preparath"￿ of Statwnwts Ihat are free frcffl material misststement. due to fraud or error. In preparlng the Financial StaiemeNs. the G0VenK￿ *e fespon&b* for assessing the Charivs ability to Cont￿Ue as a going Cor￿ern, discbgng. as applttble. mattets related lo going ￿nCern and using the wiNJ concern basis of accounting unless the Go￿r￿S 4ther intend to IhwAJate lh9 Charty or to cease ￿eratIe￿5, or have no realistic ahernab.ve but to do so. Page 15 SILCOATES SCHOOL INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SILCOATES SCHOOL ICONTINUEDI Auditors, mponslbllltkns fortho audlt ol the fin•n¢lal stat•m•nts We have been winled as audrtor under secticffl 144 of the Charilies Act 2011 and r8F(Jrt in ￿CordanCe with the A¢t and ￿leY¥￿t regulations made or havry effect ihereurKler. Chjr obje¢tives are to oblain reasonable assurance atmxrt Ihe Financaal Statements as a ￿Ole are free from ma18rial misslalement, v•hethw lo fraLvJ or err￿. to 15$ue an ALKlrtors' Rewrt that inclLKles our opinion. Reasonable asswance is a h￿h levd of assur*￿e. 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$idered fflaterial rf. i￿livIdUallY or in the aggregate. they could reasonaNy be 8Xk*Cted to ¥)ffluence the economic of U￿[$ taken (m the ba&'s of tr￿6 Fu￿nCial Statements. Irregulwities, including fraud. are inslances of rw1¥c￿￿Flla￿e wilh la￿ aTrJ regulalh)n$. We desvJn ￿￿￿edureS in line with our r8$P￿sIbIlities, outlined above, to detect mat￿la1 misstatements in respect of irrewlarities. in¢ludiThJ fra￿J. The extent to our yocedures are capabl8 of detecting irregularities. 1nd￿th.ng fraud is detaiknl below. We Lmdertake the folth￿n9 procedures to Ayenbfy reSp￿j lo these risks of rtfrojnpliarte: - Understanding the key legal and regulatory framew(N*s that 8re appficable lo the Charity. We communicated identified laws and regulations throughout ￿drt team and remained alert to any indKaticns of nc￿COMpli8nce throughout the audit. We determined the most Slgnificant of these lo be aroLmd Employment law, Chaiity law. Health a￿1 Safety Law. F￿d H￿iene reg￿atIonS, TaxalN￿ and GDPR - Enquiry of Govemfxs management as to W￿d￿85 to en$Lwe compliance aThJ any knovm In$￿ceS of non-comklianee . Review of board minutes arnl ¢(¥￿sp￿￿￿e *ilh rewL*ors - ETh]uiry of Governor$ and managemert as to weas rfthe knncid sL*ements $￿pIll?￿ to fraud and hthv these risks are managed - Challenging management on key estimates. assumpti￿$ ￿ I￿eMentS made in the preparation of the finanaal statements. These key areas of urKertsinty are thsdose(l in the aCc￿n￿￿j p(A￿leS - Identifwng and tegting unusual I￿rnal entri8S. ￿•th a parlicular fotxjs crfb manual lourr￿[ entries Throuth these wct•JL*¢$. we di¢J not beccThe aware of actud or su5[￿d r￿n￿COMp1vJn¢0. We planned and perfc¥med our audit in xcordanee *Tth a￿lling staThJards but V•*ing lo the inherent Ilmitations of pr￿ed￿re$ required in these areas. there is an unavoKlable r*k that we may not have detected a material misstatement in the aCC<￿ts. The further remvrfed r￿n-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 detectir*J one resulling from error, as fraud may involve corKeaknent, cdIuS￿n. forgery. misrepresenla1icr￿. CK overrKle of intemal ccffitrols. We are not responsible for weventing n0￿COmplIanCe ar￿ camot be expgcled to detect n￿-COmpliance wlh all law5 and regulations. A fwiher descriptKJn of ow responsits"lties a￿JIt crf ts Fina￿la1 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 (Aett￿nIS Reports) RegUlatK$￿ 2008. Our avjit has been uThgertaken so that we might stste to the Charitys trustees those matters V•t are req￿red lo state to them in an Auditors. Report and for no other purpose. To the fulest extent pennitted by law. we th not aecqrt or assume respc￿sIblIty to anyone other than the Charity and ils Iruslees, as a tfj￿. for our audil vKrfk, for thi8 repcrt or kn the opiniorks we have formed. Christopher 8￿uMOnt BA IH¢)nsl BFP FCA DChA Clive Owèn LLP Chartered Accountants arKt Statutory Auditors 140 Conis¢liffe Road Darfinglon Co Durhan DL3 7RT Dale: 2< Ch've Owen LLP we to act as aKltrs in temis of sectiffi 1212 of the CLYnpar¥e$ 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 aCt￿rytreS 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. p￿18 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 a￿ets Stocks Debtors Cash at bank and in hand 10 13 1.838 279 11 277 2,130 Crgdilors.. afflowts falling due W￿1n 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 Desi￿ated 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 0￿ratIng actlvlllws Nel cash used in co&airKJ aCtIvrt￿s 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¢rr￿￿r￿J RepayTnenls of bo￿￿￿￿ng 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 p*t 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 $tslement5 h￿e been wepared in accordarKe Mryth the Charrties SORP IFRS 102)- Accounting and Rep￿tIng by Chariiies". Statement of Recommended Practice applicable to charities preparing accounts ui aC￿rdarte the F￿r￿￿1 Reporkng Stand¥d applicable in the UK and RepublK of Irelan¢J IFRS 1021 (effective 1 January 20191. The ffinan￿aI statements have been prepared under the hislorial ¢ost ￿nVentI)n *￿th thg eXCepb￿ of fixed assets wtM"ch are included at market value. as modrf*d by the re¥akMtion of certw assets. The Governe￿3. having ¢￿e aThJ er￿￿ry 8nd reviewing prepared forecasts. are ofthe cfinion that Ihe has &lequate v*Nking ca￿1 to execute its operations ovar Ihe ￿xI trelve monlhs. The Governo￿, therefore. have made an infomied I￿geMent. at the time of approving the finanryal slal8merts, that there is a rea$l￿able expe¢tation ¢hat Ihg S¢￿?01 has adequate resources lo cmlinue wi Operatic￿81 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 a￿1 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. Restr￿ted fijnds are fund5 are lo be in acc£lida￿e wilh speuhc r8Striction$ imposed by donors ￿ which have been raised by the CW for particular purposes. The costs of raising and administering s￿h funds are charged against the specific fuThJ. Th8 aim and use of exh restrtcted fund sel out in the notes to the f￿an(la1 statem8nts. JI fina￿1￿ actl¥ities in the cwrent WKI we rdatro to unresttithd fvnds. 1.3 Golng ¢onMrn The Govemors assess w*￿th￿ the use of 9JW c(xKem is apwopriate i.e. vthether Ihere are any malarial wcertainlies related lo ev* ¢y coTh￿1b0ns tt￿t may cast Significant doubt C￿ the ability of Sch￿1 to continue as a goir4J co￿n. Govefnor8 made this assessment in respect of a perifrj of a le8St one ytar the date the f￿￿cial staements are apwoved. P4e 21 SILCOATES SCHOOL NOTES TO THE FIN￿4ClAL 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 rella1￿y. 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 notif￿1(#} has been made by the execulrfsl to the Trust ttwt a (IstribL*1c￿ be m*. N when a distribution is received from the ost*. Recapt of a legacy, in whole or in wt, is ￿Y eonsid*d 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 tre*gd as a contingent assel and t￿SCIo$0d rf materia. Donated services w faalilies are recogrnsed *lien the Chty ha8 contrd over the item, any conditions assc¢iated wilh the d(x)ated rtem Iwe been met. the receirl of economic benefft from tt use of the Charty of the item 15 probable aThJ that ecorK)mic benefrt can be measured reliably. In a¢eordan¢e tr* Charities SORP IFRS 102). Ihe general volwteer time of Ihe Friends is not recogni58d ￿ ref8r to the Gov8mors' reF<￿t for more informatKin abwt their contribution. On rgceipt, th)nated swvices aThJ facikn'es are recognised on the basls of the value of the lift to the Charity vthich i8 the il wtyjld have been willkng to pay lo obtain seM¢e$ or facilities ol equivalenl econom￿ on the marf(et.' a cwe5ponding amount is then rècognised in expendiiure in the peric*J of receipt I￿oMe tsx recoverable in relat￿n to received under Gift AKI or deeds of covenart 18 recogniseil al the l¥ne of ￿ d(ffiation. I￿oMe 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 prob*Jfe ltst a tr￿ster of ecOrw)M￿ b?nefrts wil be wuired in settlement and the amount of the obligalK)n can be measured reliably. Expenthiure is classif*l 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. D*ecl 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 $LWOrt costs which are not athitrmjtable to a sirKJle actswty a￿ apptylwed bets￿ those activilies on a basis consislenl vith the use of resources. Central slaff costs are alIc￿￿ed CMI the basis of lime spent. and depreciation charges allc¢atad on the of the assel's use. Support costs are those costs In￿rred drecty in suppc*t of exptt*diiure on the objects of the Charity. Governance costs are those irturred in *ryth *Jmlnistrat￿ of th8 Charity ￿ compliance con5b"lutional and stalut¢yy reqLiremerts Chari&￿18 acliifjlies arKI Governance costs we o)sts incurred cm the Charitls ethJcation81 operations. inclu<*ng SUFPOrt costs and costs relating to the govemance of the Charity apportioned lo choritsble xtivilies. l expenditiffe is irthive CA irr￿0¥￿￿￿ VAT. SILCOATES SCHOOL IIOTES TO THE FINANCL4L STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 21)24 A¢¢¢xmting polldos (Mnllnu•d) 1.6 T￿gIble ass•ts and d•preclatlon A revith¥ for vnpaimient of a ffixed asset is ￿rIed rf events or thangas in circumst￿CeS indicate that the carry￿g value of any fixed asset may rb)t b8 recoverab18. Shortfalls betsveen the Car￿n9 valu9 of r￿ed assets and their recoverable anounts are recognised as impainierts. Impaiment losses are rec(NJnised ￿ thè Statement of Fina￿lar PL$iVi￿5. Tangiile fixed a$$ets art carried al cost c* Valuati￿ . net of depreciab.on aTrJ any pro%&rysion for impairment. Oepreoation is F￿vIde{l at rales calcAdated to V*Yite off Ihe cost or valuation of fixed assets. k$$ Ihei¥ eslim*ed resMILHI vaue. ￿er th￿1 exF*cted useful lives ￿ th8 follwng bases.. Ffeehold woperty Land Flxtures ffittiThJs . 10. 50 y￿S 5traw*t Iw)e . not deFfeci*e(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 elem￿1 of the rental payment 1$ charged to the Statement of Financial Activities (Incorp￿ali￿j 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 Stra￿ht lin& basis ovei the lease lemi. 1.9 Stocks Slctks are valL*d at Ihe of c(* and e￿imated 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 aMo￿t wepyd rnt ofwy trade diSco￿ts due. 1.11 Cash at bankand In hand Cash at In harm1 inckKles rash a￿1 sI￿1.1￿M ligNy liwid inveslmerts wilh a maiurty ofthree Mont￿ ￿ less frc*n 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 Fer￿1 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 tr￿sfer of eccrKrfnic b8nefrt wil b8 required ￿ settlement. and the amount of the settlement can be estimate(l atl￿be$ are recognised at the amount that the Clwity anti¢ipate$ il will payto setue the debt or the amount it has receNed as a0%M￿d p8￿m￿ fw the wds or Servi￿ it must pro¥id&. ProvisiLMS are measured at the best estimate of the amixmts wired to settle the c*ligation. Whore the effect of the time value of material, the provision is based on Ihe present value of those amount$. discounted at the pre-lax dIS￿nI rate that refigcts the risks specific lo the Ikgbility. The unwinding of the discount is recognised in the statem￿ of FThncid ActNitses {IncorK*)rats'rKJ Income and Expenditure Account) as a f￿￿nce cost. 1.14 Flnanclal Instrumènts The Charity only ha$ 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 lo￿8 wNch are subsequently measured at amorhsed cost usiNJ Ihe effeclNe mteresl method. Critlcal accountlng estlmatgs •MI rn$ of judgem￿ Estimates and jwlgemerts are CO￿nualty evaluated and are based on historical experience and other f￿or$. induding expe(lath)ns of fuiure events that are believed lo be reasonat48 under the cumStar￿s. Cfitic* aCCOLWrting estimates arKI asswnpt1￿$. Debtor provision - There Frovisions indthjed Ihe fin&xial statèments.. fijll provision arwj partial prowS￿n. The full prowsion provides lo￿ ol balan￿ that *e not considered to be recoverable. The partial wo¥1￿c￿ prowdes for bkns thal we dcwbthJl debts. The total bad debt prowsm within the fin￿￿la1 sL*merts 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 I￿1vIll•S Unresmed fLmds 2024 T(rtal funds 2023 £000 funds 2024 £000 Educati￿1 charitable acli¥ities 7.089 6,353 Tolal 2023 6.353 6.353 School feè incom• 2024 £000 2023 £000 Gross fees Los$". total I￿r$a￿es. 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¢Jx*onal chwitable ￿ti￿lieS 3.881 3.211 6,109 Total 2023 3,430 2,679 6.109 Al expe￿J11Ure ed￿at1(￿a charitat4è actr4it*s 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 S￿￿e$ 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 I￿nI￿Ved) 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 {exd￿l1ryj 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 iemmw*icffj P023. £￿). thjring the year. ro Govwnors received any benefrts in kind {2023- £nil). rir¥J the year. Th) Govemors rtt￿Ved 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 Al￿n. an Rfcs registered valuer and partner at Cartel Jona$ issued a valuation rep)rt in re$F¢Ct of larby & Ixjikliros al &koates S(*tt4 on 22 July 2021. Th8 valuation usiNJ the depreciated replac8mènl cost basis w8s £9.960.￿0. 10. Slo¢ks 2024 £(M]o 2023 £000 13 Raw materials ￿nSUmatIeS 11. Dobtors 2024 2023 £000 Trade debtors Other debttys Prepa>Thents and aeuue(l irKome 1.719 28 19 137 1.604 1.838 12. Credltors: Amounts falllng due within OTr• y•ar 2024 £000 2023 £000 Loans and overthafts Pension creditor Trade creditors Other taxation aThJ socia sewrty Obligats'ons under finance lease WKI hire purthose corrtracts Other uethtors A¢¢ruals aThJ deferred Ir￿Me 147 514 47 227 52 208 88 10 97 2.315 10 112 2,371 2,917 3,365 Page 30 SLCOATES SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2024 2024 £000 2023 £000 Doforred Income DefeNed i￿ome at 1 September 2023 R¢sour¢es defetred thring the JEar Amounts released frcmm prevKJus periods 2,303 2266 12.303) 2,029 2,303 12.0291 2.2e6 2.303 Irwme deferred in th8 rel*s to fe8s in¥cMced in theAKe. enrolmèrt depos*s. 13. Credltors: Amounts falling dug aftor morn than I￿9 yur 2024 2023 £000 Bank loans HP liabilities and ffina￿e ￿Se3 Enrrjment deposits 1.760 1,728 20 120 131 1.900 1.868 31 COATES SCHOOL IIOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 AUGIIST 2024 1& Socurod debts 2024 £000 2023 £wo Hire purchase < 1 Hire purchase 1-2 yrs Hire pwchase 2-5 yrs Bank loans < 1 yr Bank loans 1-2 yrJ Bank loa￿ 2-5 YTS Bank lOar￿ > 5 YTS Bank w(traft 10 10 20 147 147 144 441 1.584 1,172 370 1.926 2.272 The bard( lo￿$ and overdraft We se¢wed ovw ts fred￿k1 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$- curr•nt y•ar at1 Septemt 2023 Balance at 31 August 2024 £000 Trarrafers inlout £000 Imyne Exp&NJiture £000 Unrnstthd funds Doslgnatod funds Silcoatkqns Donation8 79 79 General funds General Reserve Revaluation reser¥e 3.405 7.171 17.281) 226 {2261 3,521 3,138 7.171 {7.281) 6.659 Total Unmtrlct•d funds 6.769 7.250 (7.281) 6,738 Endowment funds Cawtal Speaal furKIs 602 27 27 629 Restrlcted funds John France furKI Totsl of funds 7,430 7250 <7.281) 7.399 Page 33 SILCOATES SCHOOL IIOTES TO THE FINANC￿ STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15. Statemwt of funds (contInu￿) The General Reserve ￿presents fixKIs umestricted and not designated for other PLwposes. R8¥aluation Re¥8Ne reweswts Ihe wuease in Val￿ of the bJikllng$ ￿fi￿ted in the a￿ounts. CaFMlal represents the original l￿d and tsjikll￿S endcyAtd to the Charity. speci￿ Funds represents ItK15e frJK15 Thi*ch are reswved fcff sclKlarsh'F6, tmjsaries and fuThJ8. The John France is used for the [rnOtk￿, siw*yt aThl exp￿s1On of Outdo￿ activities and opportunities. &koatians Oonalions I￿￿- tre sear. the Okl &*oalian$ Assou*ion 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 tei*wi 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 t￿n furKIs An*￿1$ 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 c￿e J Creditor$