Charlty Reglstratlon No. 1163491 Company Registration No. 09561129 (England and Wale51 LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees SE Bonell. Chair EK Barry lappointed on 14 May 20241 J Brooks A Clarke A Haryev J Light (resigned on 29 November 20241 HJS Moore SP Read lappointed on 25 June 20241 W Telford Iresigned on 4 March 20241 Headmaster R l Blewitt Bursar and Company Secretary C Scotland (appointed on 28 February 20241 Charlty Number 1163491 Company Number 09561129 Registered Office & Principal Address 140 High Street Lewes East Sussex BN7 IXS Auditors TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Bankers Lloyds Banking Group 82 High Street Lewes East Sussex Solicitors Mayo Wynne Baxter 3 Bell Lane Lewes East Sussex BN7 IJU
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) CONTENTS Page Tru5tees' Report (incorporating the Strategic Reportl Statement of Trustees, Responsibilities Independent Auditorfs Report Statement of Financial Activities li Balance Sheet 12 Cash Flow Statement 13 Notes to the Accounts 14
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE STRATEGIC REPORT) STRucfuRE, GOVERNANCE AND MANAGEMENT None o* the Trustees has any beneficial interest in the company. All the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The Articles of Association allow for between 5 and 15 Tru5tee5 and there are currently eight on the Board. Trustees generally meet termly to review the company's affairs and receive rewrts from senior management. Sub committees include the Finance and General Purposes Committee, Academic and Pastoral Committee and Health and Safety Committee. The day to day running of the School is delegated to the Head, assisted by the Senior Leadership Team ISLT). The Head, Junior School Head and Bursar attend Trustee meetings. RECRUITMENT, INDU10 AND TKqINING OF TRUSTEES New Trustee5 are appointed b35ed on their eligibility, personal competence, specialist skills and local knowledge. The composition of the Board is kept under constant review and new Trustee5 are inducted by visits to the school, discussion with the Chair of Trustees, Head and Bursar who is also Clerk to the Trustees. They also receive briefing documents provided by the School, Association of Governing Bodies of Independent Schools IAGBISI and the Charity Commission. Trustees generally Serve for a period of 3 years but may be re-elected for a maximum of 2 further terms. All Trustees undertake regular safeguarding training, AGBIS online training and other course5 specific to their roles. They also receive regular updates from the Independent Schools Bursars, Association on a variety of topics including health and safety, finance and HR matters. The School is actively seeking to recruit new trustees. SENIOR MANAGEMENT PAY POLICY In line with pay for all staff, senior management pay is determined by the Trustees who consider. amorbgst other things, the current market demand for teachers, the financial strength of the School, the economic outlook, the performance of the relevant individua15 and the 'going rate for remuneration, of senior management in the local indeperhdent school market. Key management personnel are considered to be the Head, l unior School Head and the Bursar. EMPLOYMENT POLICY The School is an equal opportunities employer. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employment need5. Consultation with employees continues at all levels with the aim of taking their views into account when decisions are made that are likoly to affect their interests. Staff surveys are Carried out regularly. Trustees recognise the contribution made by the School's dedicated stsff, whose unwavering commitment to excellence ensures that Lewes Old Grammar remains a nurturing environment where pupils can meet their full potentia5.
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE STRATEGIC REPORn CHARrrABLE OBJECTS The objects of the School as set out in the Articles of Association are to advance the education of children at the School. Trustees consider carefully the Charity Commission's general guidance o public benefit in setting objectives and planning attivitles. AIMS AND OBJEcfivES The principal objective of the School is to remain a strong, integrated community. moulded by each individual pupil's aspirations and needs, providing them with the opportunity to maximise their academic achievement and to leave School equipped to face the challenges of adulthood with confidence. The School motto 15 "Floreat Lewys" (Lewes Flourishes) which capture5 the essence of the values that underpin endeavours to give pupils the opportunity to develop integrity. energy, honesty. confidence and enthusiasm. The School provides an excellent education by recognising and developing individual pupil's strengths, potential and interests within a nurturing environment. This is underpinned by the School being a place of trust and respect where all staff take an active interest in the spiritual, moral, social an(1 cultural development of every pupil. The School's aims are to.. Develop inquisitive thinkers with a lifelong love of learning who cherish independent thought,. Enable pupi15' talents to develop through doing and making- Foster individuality and encourage initiative and creativity alongside an awareness of the needs of others; Enable students, former students, parents and staff to take pride in the community'5 distinttiveness,. Foster interest beyond the school by engaging with the local community and developing a national and international awareness. ACHIEVEMENTS AND PERFORMANCE Academic performance Public examination results were in line with expectation5 reflecting considerable hard work by both staff and pupils. Those leaving the Sixth Form achieved 81°A of their A Level grades at either A. The grades for this cohort at BTEC were equally impressive with 85Yo of the grades at either Distinction or Distinction. level. These excellent results enabled most students to progress on to the first choice university with Russell Group universitie5 firmly represented. The results at GCSE were very pleasing with 42% of the 8rade5 being at 7 or above. and with a pa55 rate of a very impressive 97%. This confirms that teaching stretched the more able students and the high pass rate confirmed that the School meets the needs of those across the ability range.
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE STRATEGIC REPORT) Academic priorities in the Junior School focu55ed on embedding challenge into a113rea5 of the curriculum, improving spellirbg by restructuring Phonics teaching and creating further opportunities for competitive sport. Pastoral matters The RESPEcf philosophy has been firmly embedded in the Senior School and promotes core values. Pupils have been encouraged to become drivers for change by getting involved and making a difference in the School community. An anti-bullying mindset has been promoted and excellent attendance and punctuality are being championed. Pupil voice has been developed in the Junior School through the School Council and children have been encouraged to engage with the local community and charitable organisation5. A key focus has 3150 beer) easing and priorltising transition between year groups up to and including Year 7. Other activities Foreign travel continues to be seen by the School as an essential way of fostering interests beyond School and to develop a national and international awareness of other cultures. The reward trips to Hollalld and Finland reaffirm that pupils, who best embody the School's Core Values, will have their commitments and achievement recognised. This is also true with the awarding of prizes at the ceremonies at the end of the academic year. The School is determined to ensure that the Core Values remain pivotal to the everyday experience of pupi15. The School attempts to build both grit and resilience and the annual Whole School Walk was completed by the largest number of pupi15 ever. including pupils from our partner School in Ballito, South Africa. COMMUNITY LINKS AND PUBLIC BENEFIT The School continued to Improve its links With the local community. Facilities are mado available for clubs and societies to use outside normal schiiol hours within Lewes and the surroundlng area. The School has also organised events to which the public were invited, such as school productions and guest Speakers. Trustees also consider it is important to recognise the indirect benefit to the public which ari5e5 from the School educating about 700 pupils, the cost of which would otherwise have fallen on the state. It is estimated this has saved the public purse an estimated £5.2M, based on an average state education grant of £7,460 per pupil. The School also provides financial support (scholarships, awards and bursaries) on the basis of financial need and pupil's educational ability or talent. Bursarie5 are awarded for financial reasons to a55iSt familie5 who would otherwise not be able to access the School's educational offer.
LEWES OLD GRAMMAR SCHOOL TRUST {LIMITED BY GUARANTEE) TRUSTEES, REPORT {INCORPORATING THE STRATEGIC REPORT) PLANS FOR THE FUTURE Looking ahead to the next academic year, trustees are mindful of the thallenges presented by changes in VAT, the loss of business rates relief, and increased National Insurance costs. However, the Board remains committed to maintaining a strong financial base while continuously improving the opportunities available to pupils. Trustees will continue to monitor these financial developments closely, ensuring that deci5i0ns are always in the long term best interest of the School community. The academic priority remains as a determination to ensure that all pupils have an equal opportunity to thrive and achieve their potential. This is achieved by cultivating in them a genuine respect for their learning and for others, ideas. This is promoted partly by all that is taught and planned for the classroom and also through the Respect philosophy of the School. SEND provision will be developed to ensure that quality first te3chinE lin combination with learning support for some SEND students) mcets the particular needs of individuals, and that Staff have plenty of resources and appropriate professional development to understand the needs of all pupils arhd the latest research in terrns of pedagogical methods and tools to support the flourishing of all pupils. The School's pastoral priorities will continue to promote the importance of equality through every aspect of School life. The benefits of positive behaviour will be further reinforcèd by embedding the RESPEcf philosophy and pupll emotional wellbeing and mental health will be improved by re- establishing quiet areas in the school where pupils can find peace and calm dijring the school day. The estate and infrastrurture priorities will be carefully considered as part of the School's strategic plan. Projects will need to be "canserv3tive" during a period of financial uncertaillty and those Investments made must produce the greatest benefits for pupils. The School 3ims to secure lasting relationships with those local partners leg Southdown Clubl whose facilities are used for SF)ort and the performSng arts. The School will also prioritise reducing its Carbon footprint for both commercial as well as environmentally ethical reasons. FINANCIAL REVIEW The School raise5 Its funds from fees and related activities and has not engaged in appeals for many years. Estate projects have either been financed from surpluses after ordinary expenditure, or kjy borrowing under careful control to ensure loan commitments are affordable. The School generated income of £10,792K12023 £9,862KI and expenditure tot311ed £10,090K12023 £9,532KI giving a surplus for the year of £701K {2023 £330KI. Trustees are conscious of the need to have fund5 available to cope with the current economic uncertalntles and to enable continued investment in property and staff to ensure we continue to provide an excellent level of education for our pupils. Total funds as at 31 August 2024 were £7,120K {2023 £6.419KI of which £29K1£34KI was held in designated and restricted funds. The School holds unrestritted reserves of £7.092K1£2023 - £6.385KI
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE STRATEGIC REPORT) which include tangible fixed assets of £12,666K12023 - £12,716KI and long term bank loans of £5.392K 12023- £5,644KI. Gross fees were £11,607K {2023 £10,924KI whilst scholarships. awards and discount5 totalled £2,230K12023- £2,401KI giving net fee income of £9,377K {2023- £8.522KI. Scholarships. awards and discounts tot311ed 19.2% of gross fees12023- 22.0%). Trustees monitor performance using Key Financial Performance Indicators which are reported on termly. RISK MANAGEMENT Trustees are responsible for the identification and management of risks faced by the School. Risk5 are assessed and controls established throughout the year and are delcgated to the Senior Management Team where appropriate. Trustees review the full Risk Register annually. Trustees consider the major potential risks to the School to be.. Ensuring safeguarding and inspection in an increasingly regulated environment The challenging economic environment adversely affecting pupil numbers Competition from independent and state schools affecting pupil number5 Inflationary pressures on certain costs A variety of controls are used to mitigate risk including strategic planning and budgetingtr safer recruitment, staff training, marketing and formal written policies. Trustee5 are satisfied that systems and procedures are in place to mitigate exposure to the major risks. REPORTABLE INCIDENT5 During the year there was only one incident whlch required notification to the charity Commission which related to the School's inspection in May 2024. The issue was addressed and the School met all standards in its subsequent Progress Monitoring Inspection in February 2025. Approved bythe Board on............... SE Bonell Ichairl
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees, who are also the Diredors of Lewes Old Grammar School Trust Limited for the purpose of company law. are responsible for preparing the Trustees, Report lincorporating the Strategi Report) and the accounts in 2ccordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these accounts, the Trustees are required to: selecl suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent- and prepare the accounts on the going concern basis unless it 15 inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companie5 Act 2006. They are also responsible for safcguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS OF THE LEWES OLD GRAMMAR SCHOOL TRUST LIMITED Opinlon We have audited the financial statements of Lewes Old Grammar School Trust (the 'charitable company'l for the year ended 31 August 2024 which compromise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and notes to the financial statements. The financial reporting framework that has bccn applied in their preparation is applicable law and United Kingdom Accounting Standards. including Finarbcial Reporting Standard 102 The Financial Reporting Standard applicable in the UK Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements- give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incomin8 resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls of opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable 18w. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statement5 in the UK, including the FRC'S Ethical Standard. and the provisions available for small entities, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAS IUKI require us to report to you whore- the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate,. or the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LEWES OLD GRAMMAR SCHOOL TRUST LIMITED Other Information The other information comprises the information included in the annual report. including the trustee's report, OEher than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other Information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material incon515tencies or apparent material misstatements, we are required to determine whether there is a materlal misstatement in the financial statements ora material mi5Statement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to reportthat fact. We have nothing to report in this regard. Opinions on other matters prescribed bythe Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit- the information given in the trustees, report (incorporating the strategic report and the directors report) for the financial year for which the financial statements are prepared is consistent wlth the financial statements,. and the strategic report and the directors, report have been prepared in accordance with applicable legal requirement5. Matters on which we are required to report by exceptlon In the light of our knowledge and understanding of the charitable company and Its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require5 US to report to you if. in our opinion= adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of directors, remuneration specified by law are not made- or we have not received all the information and explanations w8 require,. or the director5 were not entitled to prepare the financial Statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the trustees. report and from the rèquirement to prepare a strategic report.
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LEWES OLD GRAMMAR SCHOOL TRUST LIMITED Respon5ibilltie5 of trustees As explained more fully in the trustees, responsibilities statement. the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the prep3ration of the financial statements and for being satisfied that they Eive a true and fair view, and for such intern31 control as the trustees determine is necessary to enable the preparation of financial statements that are free from materi31 misstatement, whether due to fraud orerror. In preparing the financial statements, the trustee5 are responsible for a55e55ing the charitable company's ability to Continue a5 a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustee5 either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so. Auditor's responsibilities for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable 35suranco is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISA5 IUKI will alway5 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be experted to influence the economic decisions of users taken on the basis of these financial statement5. A ftjrther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. https-l/www.frc.org.uVauditorsresponsibilities. This description forms part of our auditorfs report. Extent to which the audit was considered capable of detecting irregularities. including fraud The objectives of our audit, in respect to fraud, are.. to idontify and assess the risks of material misstatement of the financial statements due to fraud- to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. throu8h designing and implementing appropriate responses,. and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests Wlth both those charged with governance of the entity and its management. Our approach wa5 as follows.. We identified area5 of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience, and through discussion with the trustees and other management las required by auditing standards), and discussed with the trustees and other managernent the policies and procedures regarding cornpliance with laws and regulations (see below),. We identified the following areas as those most likely to have such an effect.. health and safety,. Gener21 Data Protection Regu13tion IGDPRI,. fraud,. bribery and corruption, school inspections, DBS checks, employment law and Keeping Children Safe in Education under Sertion 175 of the Education Act 2002. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. The
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LEWES OLD GRAMMAR SCHOOL TRUST LIMITED identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter. We considered the legal and regulatory fr3meworks directly applicable to the financial statements reporting framework IFRS 102, the Companies Act 2006 and the charities Act 20111 and the relevant tax compliance regulations in the UK. We considered the nature of the charitable company's operations, the control environment and financial performance. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the atjdit. We considered the procedures and contro15 that the charitable company has established to address risks idÈntified, or that otherwise prevent, deter and detect fraud- and how senior management monitors those programme5 and controls. Based on this understanding we designed our audit procedures to identify non-compliance with such law5 and regulations. Where the risk was considered to be higher, we performed audit procedure5 to address each identified fraud risk. These procedure5 included- testing manual journals,. reviewing the Inancial statement disclosures and testing to supporting documentation; performing analyiical procedures,. and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations {irregularitiesl is from the events and transattions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all law5 and regulations. Use ofour report This report is made 501ely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an 3uditor5' report and for the no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, or for the opinions we have formed. Mark Cummins FCCA {Seni for and on behalf of TC Group Statutory Auditots Office.. Steyning, West Sussex tory Auditor) Dated.. £ 2oZS io
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST2024 Unrestrirted Funds DesFgnated Funds Restrirted Funds Total 2024 Total 2023 Notes Incoming from: DonatlDns and legacies Chaiitable activities 23.204 24,088 10.668.026 27,014 9,785,210 10,668,026 Investments 99,567 99.567 49,956 Total income 10,768,477 23.204 10.791.681 9,862,180 Expenditure on.. Charitable activitie5 10.072.056 2338 16.086 10.090A80 9,532,200 Total expendlture 10.072,056 2,338 16.086 10.090N80 9,532,200 Net income / lexpenditurel 696.421 12.3381 7,118 701,201 329,980 Transfer bètween funds 18 10,359 ILO.3591 Net movement in funds 706.780 12.3381 7.970 13,2411 26.172 701,201 329.980 Fund balances brought forward Fund balances carrled forward 6.385,070 6,419,212 6.089,232 18 7.091,850 5.632 ZZ.931 7,120,413 6.419,212 All income and gains for the period are recognised above. All of the company'5 activities are classified as continuing. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. li
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) BALANCE SHEEr ASAT31 AU6UST2024 2024 2023 Flxed assets Notes Intangible assets Tangible assets li 12.575 12,666.008 12,678,583 12,575 12,715,884 12,728,459 Currellt assets Stocks Debtors Cash at bank and in hand 3,468 2,864.353 4,513,52S 2,938 Z,557.083 2.606,547 13 7.381,346 5,166,568 Creditors: amounts falling due within one year 14 15.518.316) 14,528,411) Net current assets 1,863.030 638,137 Total assets less current Ilabllltles 14,541,613 13,366,596 Creditors: amounts falling due after more than one year 15 17.421,2001 16.947,384 Net assets 7.120.413 6,419,212 Represented by: Restricted ndS 18 22,931 26,172 Unrestricted funds 18 General funds 7.091,850 5.632 6,385,070 7,970 Designated fund5 7.097,482 6,393.040 7,120,413 6,419,212 The accounts were approved by the Board on ....................... SE Bonell Ichairmanl Company Registration No. 09561129 12
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST2024 Notes 2024 2023 Cash flows from operating aetlvltSes 20 2,718,379 919,739 Cash flows from Investing activities Purchase of tangible fixed assets 12 14165571 1552.7631 Sale proceeds frcTrm fixèd a55ets 1,301 Interest received 99.567 49.956 Net cash from Investlng actlvities 1316,9901 1501,5061 Cash ftows from finanting actiiiitie5 Loan movement 1244,0371 1224,924 Interest payable {250.3741 1?46.6601 1494,4111 1471,5841 Increase l {decrea5el In cash and cash equivalents 1.906.978 153,3511 Cash and cash equivalents at start of year 2.606.547 2,659,898 Cash and cash equivalents at end of year 4.513.525 2,606,547 All cash is cash at bank and in hand. 13
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Statutory Informatlon Lewes Old Grammar School Trust is a charitable company, limited by guarantee, registered in England and Wales. The charitable cornpany's registered number and registered office address can be found on the legal and administrative information page. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. Accounting policies 2.1 Basis of preparation The financial statement5 have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitlÈs preparing their accounts in Èccordance with the Financial Reporting Standard applicable in the UK IFRS1021 (effective l January 20191 Charities SORP IFR51021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 and the Companies Act 2006. Lewes Old Grammar School Trust meets the definition of a public benefit entity under FRSIO2. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notelsl. There are no material uncertainties about Lewes Old Grammar School Trust's ability to continue as a going concern. The financial statement5 are prepared in sterling, which is the functional currerbcy of the School. Monetary amounts in the financial statements are rounded to the nearest £ 2.2 Income School fee income is accounted for on a receivable basis and consists of Iharges billed for the school year ended 31 August 2024, less bursaries and allowances. Fees received for education to be provided in future years are carried forw3rd as deferred income. Pupil deposits and fees in advance scheme contracts are those fees received in advance of education to be provided in future years under a specific contrart. The fees are held within the unrestricted reserves of the school until taken to income to match liabilities in the tcrm when used or refunded. Donatiorbs are accounted for as received by the school. Grant income and inve5trnent income is accounted for in the period in which the school is entitled to receipt. 2.3 Expenditure Expenditure is accounted for on an accruals basis. Overhead and other costs not direttly attributable to a particular functional activity are included within support costs. The irretoverable element of VAT is included with the item of expenses to which it relates. 14
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGusf2024 2. Accounting policies IcoDtinued) 2.3 Expenditure (continued) Governance costs comprise the costs of running the charity, including strategic Trustees, and all the costs of complying with constitutional and statutory requirements. such as the costs of Board and Committee meetings and of preparing statutory account5 and satisfying public ccountability. 2.4 Intangible fixed assets Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at COSt. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment10gses. Amort15ation is provided on intangible assets at rates calculated to write off the cost if each asset on a straight-line basi5 over its expected useful life. Amortisation is provided on the following basis: School crest Not amortised 2.5 Tangible Ilxed assets and depreciation All assets costing more tharb £5 are looked at on an individual basis and capitalised if appropriate. Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost les5 estimated residual value of each asset over its experted usefLJI life, as follows.. Freehold land 3nd assets under construction are not depreciated Freehold buildings 2% straight line Fixtures, fittings & equipment 16.66%15Yo/33% straight line Motor vehicles 25% reducir)g balance 2.6 Leasing commitments Rentals paid under operating leases are charged to income as incurred. 2.7 Stock Stock is valued at the lower of cost 3nd net re31isable value. 15
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 2. Accounting policies {continued) 2.8 Pensions The charitable company operates a defined contribution pension scheme and the pension charge represent5 the amounts payable by the company to the fund in respect of the year. 2.9 Accumulated funds Unrestricted funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustee5. Designated funds - these are funds Set aside by the trustees out of unrestrirted general funds for specific fLrture purposes or prDjects. Restrirted funds- these are funds which are to be used in accordance with specific restrirtions imposed by donor5 or which have been raised by the School for particular purposes. The costs of raising and administering such fund5 are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Further explanations of the nature and purpose of each fund are included in the notes to the accounts. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments. The Trustees seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow. 2.11 Debtors Trade and other debtor5 are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.12 Creditors and provlsions Creditors and provisions are retognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. 16
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 2. Accounting policies Iconlinued) 2.13 Critical accounting estimates and judgement5 In the application of the school's accounting policie5, the trustee5 are required to make judgements, estimates and assumption5 about carrying amount if a55et5 and liabilitie5 that are not readily apparent from other source5. The estimates arbd associated assumption5 are based in historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period which the estimate is revised. The trustee5 do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements. 3. Turnover The turnover of the school is wholly attributable to the objects of the school as stated in the Trustees, Report and is earned entirely within the UK. 4. Net incomel{expenditure) This is stated after charging: 2024 2023 Depreciation 464,131 454,265 Stock charged as an expense Operating lease payments Auditors, remuneration- audit services 1530) 353 140,584 126,643 15,750 17,280 5. Income from donations and legacies 2024 2023 Other donations 24,088 27,014 24,088 27.014 17
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 Income from charitable activities 2024 2023 Gross school fees 11,606,555 10,923,517 Bursaries, scholarships and discounts Net school feès 12.229,826) 9,376,729 12,401,461) 8,522.056 School trip5 and activities income Catering and transport income Income from d)aritable actlvities 568,890 607,62(> 722,407 655,534 lQ,668,026 9,785,210 7. Investment income 2024 2023 Interest received 99.567 49,956 Total expenditure staff costs Depreciation other Cost5 Total Z024 Total 2023 Charitable activities Teaching costs Welfare cost PremÉses costs 4,936,384 479,287 282,573 612.536 6,310,780 803,254 811,692 915,436 714,115 3.244,497 70,972 5.739,638 1.305.494 1.572,738 1,401,638 10,019,508 70,972 5.403.260 1.169.853 1,580,482 1,320,457 9,474,052 58,148 14,515 374,729 74,987 464.231 Support costs Total charitable a¢tivitÈes Expenditure on governance Total expenditure 6,310,780 464.231 3,315,469 10,090,480 9,532,200 Support costs include governante costs, of which payments to the auditors of £15,7SO12023.. £17,280) for audit fees. No fees were paid to the auditors for non-audit services in 2024 or 2023. Trustees None of the trustees lor any persons connected with them) received any remuneration during the year. There were no reimbursed expenses this year. 18
LEWES OLD GRAMMAR SCHOOL TRUST {LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 10. Employee5 Number of employees The average number of employee5 during the year wa5 a5 follow5: 2024 Number 135 2023 Number 116 Teachers Finance Maintenance Administration lincluding transport) Catering IT io li 24 28 187 171 The average FTE number of employees during the year was as follows.. 2024 Number 96 2023 Number 94 Teachers Finance Maintenance Administration linelLJdinE transport) Caterin 16 20 135 136 Employment costs 2024 2023 Wages and 53lariÈs Social security costs Other pension costs 5,413,398 515,905 381,477 5,058,800 488,348 347,691 5,894,839 6,310,780 The above employment costs include settlement amounts to former employèes, the terms of which are confidential. 19
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 10. Employee5 (continued) The number ofemployees whose annual remuneration was £60,DtXl or more were- 2024 2023 Number Number £60,000- £69,999 £70,000- £79,999 £150,1J)0 - £159,999 £160,000- £169,999 £170,000 - £179,999 Contributions totalling £46,283 12023.. £45,204) were made to penslon schemes on behalf of employees whose emoluments exceeded £60,000. The total employee benefits (including ER'S Nl and pension) of key management personnel of the school during the year were £595,29812023.. £691,613). Key management during the year tomprised the Senior Leadership Team. 11. Intangible fixed assets Cost School Crest At I September 2023 At 31 August 2024 12,575 12,575 Net book value At 31 August 2024 12,575 At 31 August 2023 12,575 20
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 12. Tangible fixed assets Assets under Construction Freehold property Motor Vehicles Flxtures, fittings & equipmertt Total Cost At I September 2023 Additions 13,326,213 122,418 3,000,690 16,449,321 299,452 4,693 112.412 416,557 Disposals 12,3101 12,3101 At 31 August 2024 299,452 13,330,906 122,418 3,110,792 16,863,568 Depreciation At I September 2023 Charge for the year 2,031,004 179,877 101,439 1,600,994 3,733,437 464,231 5,245 279,1 Eliminated on di5pos31 11081 11081 At 31 August 2024 Net book value At 31 August 2024 2,210,881 106,684 1,879,995 4,197,560 299,452 11,120.025 15.734 1.230.797 12,666.008 At 31 AuEust 2023 11,295,209 20,979 1,399,696 12.715.884 Included in Land and buildings is freehold13nd at valuation of £4,000,50012023= £4,0(,5001, which is not depreciated. The land, with an origin21 cost ot £3,833,33412023: £3,833,334) was revalued as at September 2015. 13. Debtor5 2024 2023 Trade debtors 2,467,576 2,310,109 Prepayments and accrued income 359,951 205,931 Other debtors 36,826 41,043 2064,353 2,557,083 21
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 14. Creditors: amounts falling due within one year 2024 2023 Bank loans Fees in advance Trade creditors Taxes and social security costs Other creditors Accruals and deferred income 272,539 J.284.838 341,720 120,644 91.305 3rt07,270 264,228 460,133 212,757 128,791 114,105 3,348,417 5,518.316 4,528,431 Deferred Income represents fees due for the Autumn term 2024. Parents miy cnter into a contract to pay the school fees in advance for fixed contributions towards the tuition fees. The money may be returned subject to spccific conditions on the receipt of notice. These fees have been split between less than and more than one year. The aggregate amount of creditors falling due within one year for which security has been given is £272,53912023'. E264,228). See note 15 for details of the secured assets. 15. Creditors: amounts falling due after more than one year 2024 2023 Bank loans Fees in advance Pupil deposits 5,392.012 1,680,688 348,500 7,421,200 5.644.360 951,424 351,6(K) 6,947,384 Included within the above are amounts falling due as follows: 2024 2023 Between one and two years Bankloans 272,539 264,228 Between two and five years Bank loan5 1,067,407 1,037.147 Over five years Bank loans 4.324.605 4,607,213 The aBgregate amount of creditors falling due after more tharb one year for which security has been given amounted to £S,392,01212023-. £5.644,3601. These amounts have been secured by first fixed legal char8e5 in favour of Lloyds Bank plc over the freehold properties of the Trust. 22
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 16. Pension commitments The School operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the School in an independently administered fund. The pension cost charge represent5 contributions payable by the School to the fund and amounted to £381,477 12023.. £347,6911- Contributions totalling £63,12712023: £74,343) were payable to the fund at the balance sheet date and are included in creditors. 17. Share capital and contrel The company is Ilmited by guarantee and has no share capital. In the event of a winding up. each of the trustees undertakes to contribute to the assets of the trust such amounts a5 may be required, not exceeding £1. No one party has overall control of the charity. 18. Summary of fvnd movement Movement in Funds Balance at I September 2023 Incomlng Resources Balance at 31 August 2024 Resources Expended Transfèrs Unrestricted funds Designaied funds.. Morocco fund 7.970 7.970 12,3381 5,632 General reserves 6,385,070 6.393.040 10,768,477 10,768,477 110,072.0561 110,074.3941 10,359 10,359 7,091,850 7,097,482 Restrirted funds: Music & Drama furbd Sport fund Design & Technology fund PTA fund Fairview fund Cameron Moore fund 5.841 4,765 5,726 665 6.506 4.765 1,8ZO 318 14.2241 111.8621 22.221 110,3591 9.246 594 9,246 594 26,172 23.204 116,0861 110,3591 22,931 Total funds 6,419,212 10,791,681 10,090,480) 7.120A13 23
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGusf2024 18. Summary of fund movement {continued} The school raises charitable funds and donates them to Education for All, a registered Moroccan NGO, which supports girls from rural communities of the High Atla5 Mount31ns giving them the opportunity to continue their education beyond primary school. The large earthquake in Morocco caused severe damage to some of Education for All's buildings. Some pupils raised money, which the School agreed to match with a donation of £2,338. The Music and Drama fund relates to donations received which, along with any gift aid claimed, will be used to advance the Drama and Music activities and curriculum in the school. The Sport fund relates to donations received which, along Wlth any gift aid claimed. will be used to advance the Sport activities and curriculum in the school. The Design & Technology fund relates to donations received which, along with any gift aid claimed, will be used to advance the Design & Technology activitie5 and curriculum in the School. The PTA fund relates to funds received to reimburse the Trust for specific aEreed expenditure. Transfers to restricted funds in the year relates to capital expendlture. The FaiTview fund can be used for any educational or fabric related purpose within the school following agreement by the donor. The Camerorb-moore fund relates to the gift aid claimed for payments made towards a pupil's tuition from an unre13teé third party. The fund is to be used for extraturricular activities, school trips and the purchase of educational sUPPOrt equipment 2nd materials. 24
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTES TOTHE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 19. Analysls of net asset5 betsveen funds Unre5trirted funds Restriited funds Total Fund balances at 31 August 2024 are reprèsented by: Tangible fixed assets Intangible fixed assets Current assets Creditors.. amounts falling due within one year Creditors.. amounts f311ing due in more than one year 12,666,008 12,575 7.358.415 15,518,316> 17,421,200) 7,097,482 12.666.008 12,575 7.381.346 15,518.316) 17,421.200) 7.120.413 22.931 22,931 Unrestrirted funds Restrirted funds Total Comparative FUTKI balances at 31 August 2023 are represented bv: Tangible fixed assets Intangible fixed assets Current assets Creditors.. amounts falling due within one year Creditors.. amounts falling due in more than one year 12,715,884 12,575 5,140,396 14,528,431) 16,947,384) 12,715.884 12,575 5,166,568 14,528,431) 16,947,384) 26,172 6,393,040 26,172 6.419.212 20. Net cash inflow/{oufflowl from operating activities 2024 2023 Reconciliation to changes in resources Net income Interest received Intèrest paid Dèpreciation of tangiblÈ fixèd assèts Loss on disposal of fixed assets Ilncrea5elldecrease in stocks Increase in debtors Increase in creditors 701,201 199.567) 250,374 464,231 2,202 15301 {307,2701 1,707,738 329,980 149,9561 246.6QO 454,265 1,389 353 1360,5501 297,658 Z,718.379 919,739 25
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BYGUARANTEE) NOTESTO THE ACCOUNTS FOR THE YEAR EhlDED 31 AUGUST2024 21. Analysis of changes in net debt At I September 2023 Cash flows At 31 August 2024 Cash at bank and in han Debt due within l year Debt due after l year 2,606,547 {264,2281 15,644.3601 1,906,978 18,3111 252.348 4.513.525 {272,5391 15,392,012) 13.302.041) 2,151,015 11,151,0261 22. Commitments under operatlng leases At 31 August 2024 the company had total commitments under non-cancellablÈ operating leases as follows: Land & Buildings 2024 Other 2023 2024 2023 Expiry date.. Within one year Between two and five years 19.841 34.000 35.685 123,323 48,727 19,841 13,042 23. Related party transactions During the year the school engaged Whyte Photography, operated by P Whyte, the husband of C Whyte (Head of the Junior School), for photographic services totalling £4,09812023 - £6,6L31- At the balance sheet date £nil12023 - £nill was outstanding- Durirbg the year the school engaged M D J Light Bros Ltd for services totallirhg £5,91012023 £3.074I, company of which l M Light13 Trusteel is a shareholder. At the b31ance sheet date £nil12023- £852) was outstandinE and is included in creditors. S Blewitt, the wife of R l Blewitt Ithe Headmaster), is employed by the school and received a total remuneration over the period of £35,38012023- £32,635). D Blewitt, the daughter of R l Blewitt (the Headmaster), is employed bythe school and received a total remuneration over the period of £26,89912023- £19,833). O Read, the son of S Read IGovernorl, is employed by the school and received a total remuneration over the period of £21,41512023.. £nill. The school also sponsors his IPGCE qualification. A Read, the daughter of S Read (Governor). was employed by the school dLJring the period as a GAP student, and received total remuneration of £8,52312023.. £nill. 26
LEWES OLD GRAMMAR SCHOOL TRUST (LIMITED BY GUARANTEE) NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 24. Comparative Statement of Financial Activities- 31 August 2023 Unrestricted Funds Deslgnated Funds Restricted Funds Total 2023 Incoming from: Donations and legacies Charitable activities 10,304 9,785,210 49.956 L6,710 27.014 9,785,210 49,956 9,862.180 Invèstments Total income 9,845,470 16.710 Expenditure on: Charitable activlties 9.513,862 9,513.862 18,338 18.338 9,532,200 9,532,ZOO Total expenditure Net income / lexpenditurel 331.608 11.6281 329.980 Transfer between funds Net movement in fvnd5 331.608 6,053,462 6.385.070 11.6281 27.800 26.172 329.980 6,089,232 6,419.212 Fund balances brought forward Fund balances carried forward 7.970 7,970 27