Registered number: 10288316 Charity number: 1172272 SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Feltons Chartered Accountants Bimiingham B13JR
SANDWELL VALLEY SCHOOL LIMITED (A Company limited by guarantee) CONTENTS Page Reference and administrative detalls of the charityi its Trustees and advisers Trustees. report Independent auditors. report on the financial statements Statement of financial activities Balance sheet 9-10 Statement of cash flows l?tes to the financial statements 12-24
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Trustees G Walker (appointed 31 October 2016) M Hall (appointed 31 October 2016) A Coley (appointed 11 July 2023) A Loughran (appointed 21 July 2023) Company registered number 10288316 Charity registered number 1172272 Registered office 150 Bimiingham Road West Bromwich West Midlands B70 6QT Independent auditors Feltons, Statutory Auditor 8 Sovereign Court 8 Graham Street Birmingham B13JR Bankers Barclays Bank plc PO Box 299 Birmingham B13PF Solicitors The Penninsula Victoria Place Manchester M4 4FB Page 1
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees present their report together with the financial statements for the period ended 31 August 2025. The report has been prepared in accordance with the Charilies Acl 2011, the Companies Act 2006. the Charities SORP (FRS1021, and the charity's governing documents. Objectives and activities The Charity's objects are restricted specifically and exclusively for the public benefit: to promote and advance the education of individuals under Ihe age of 25 years in Sandwell and the surrounding areas. The school currently provides education for young people aged 11 to 19 years. In detemiining the activities undertaken. Ihe Trustees have had due regard to the Charity Commission's guidance on public benefit. The following Govemors served during this period: G Walker T Burns D Loughran A Loughran M Coley. Achievernents and Performance (Academic Year 2024125) The school has continued to make strong progress since the most recent Ofsted inspection (June 2025). Leadership capacity has been strengthened through targeted appointments in ¢urriculum and inclusion. enabling clearer accountability. more robust systems. and a more cohesive approach to school improvement. The school has engaged a range of extemal expertise. including an Ofsted Inspectorlschool improvement consultant, a leadership consultant, and professional learning partnerships with a local secondary school. Significant developments have been made across the physical environment, pastoral inteNention, behaviour managemenl and curriculum design. Key achievements include: 1000/0 of Year 11 leamers completed either GCSE or Functional Skills qualifications. positive JCQ inspection confirming strong assessment and examination processes. a SUCGessful Extemal Quality Assurance inspection by local authorities- active involvement in West Midlands Lieutenan¢y education projecls,. and an enhanced programme of educational visits, supported by a newly appointed Trips Coordinator. Admissions: Students are primarily referred by local councils and schools, except for Year 12 learners who may self-refer. The student population includes young people with vulnerabilities. EHCPS. and those who require a nurturrng, small-scale eduGational environment. The school provides targeted support in emotional wellbeing. -ddressing gaps in education and attainment, and improving attendance. 2.1 ADMISSION. Number of pupils currently on roll Nutnber of pupils currently on roll 38 as of June 2025 Numberwho have joined the sdiool since Sept 2024 110 of which: 31 Y11s leavers - 25 successful transitions to mainstream school . 16 short-term placements (g 6 weeks) Page 2
SANDWELL VALLEY SCHOOL LIMITED (A Company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Outcomes for students Destinations were.. full time education 800/0, full time training 190/0, NEET 1 %, total 100 %. GCSES and Functional Skills aligned with the students personalised learning focus and goals resulted in students achieving levels above baseline. Iv. School Development Plan (2025 Priorities): The School Development Plan outlines key strategic priorities for improvement. During 2025. the focus areas included.. To deliver the Ofsted Action Plan with emphasis on an inclusive curriculum, strengthening the senior leadership team, and expanding CPD in special educational needs. To increase the number of students wilh EHCPS through collaboration with local authorities. Allocating financial support to deliver the planned improvements. Looking ahead, the school plans to expand curriculum palhways, introduce new vocational qualifications, refurbish existing classrooms, and instsllation of three additional teaGhing rooms. Structurey governance and management The Charity is a Gompany limited by guarantee, with liability limited to £1 per member in the event of winding up. The Trustees. who are also Directors under company law. and who served during the period and up to approval of this report, were.. Mr G Walker Mr A Loughran Mr A Coley Mrs M Hall New or replacement Trustees are appointed by the existing Board. Trustees and Governor5 meet quarterly to review performance and strategic direction. A Governance Statement sets out expectations and responsibilities. Governors received updates on Ofsted requirements, Independent School Standards, JCQ regulations, and DfE Keeping Children Safe in Education. Training continues throughout the year in safeguarding, PREVENT. governance and leadership. Purpose of the Board: to ensure clarity of vision and strategy. hold executive leaders to account for performance. and oversee the effective use of resources. Pay and Remuneration: Trustees determine pay and conditions for key management personnel with advice from an extemal HR consullancy. The PrincipallCEO recommends pay decisions for the wider staff team. Related Parties: Sandwell Community Caring Trust (SCCT), charity number 1086162. has a CEO who also serves as a Trustee of Sandwell Valley School. All transactions beeen SCCT and SVS are disclosed in accordance with SORP requirements. Disclosure to Auditor: Each Trustee has confirmed that there is no relevant audit information of which the auditor is unaware, and that they have laken steps to identify and share such information. Approved by order of the members of the board of Trustees on 6 March 2026 and signed on their behalf by. Mrs M Hall Trustee Page 3
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SANDWELL VALLEY SCHOOL LIMITED Opinion We have audited the financial statements of Sandwell Valley School Limited {the 'charitable companl) for the year ended 31 August 2025 which comprise the Slatement of financial activities, the BalanGe sheet, the Statement of cash flows and the related notes. induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FinanGial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United 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 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Audits'ng (UK) {ISAs {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit (ji the financial statements section of our report. We are independent of the charitable Gompany in accordance with the ethical requirements that afe relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded thal the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material ijncertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the charitable companls ability to continue as a going concern for a period of at least tW91ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going conrn are described in the relevant sections of this report. Page 4
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF SANDWELL VALLEY SCHOOL LIMITED (CONTINUED) Other information The other information comprises the infomiation included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial slatements does not cover the other information and, except to the extent othetwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility IS to read the other informalion and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audil, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether Ihis gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a ..1aterial misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion- the information given in the Trustees, report is inconsistent in any material respect with the finanGial statements. or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records and retums., or we have not received all the information and explanations we require for our audit. Responsibilities 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 law) are responsible for the preparation of the 'iancial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing Ihe financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 5
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SANDWELL VALLEY SCHOOL LIMITED (CONTINUED) Auditors, responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the finanGial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assuran. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. Ihey could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatement5 in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We reviewed the academy's control and risk management procedures and planned our work based on our assessment of those controls and procedures; This review included an assessment of the risk of material misstatement due to errors, fraud and management override of controls for all material areas in the financial statements- We made enquiries of management and the academy's lawyers regarding any actual or potential litigation andlor claims- Financial statemenls disclosures were reviewed and checked for compliance with applicable laws- Detailed testing was conducted on balances and transactions including unusual items and those of individual significance to the financial statements., Data analytics were used in order to identify unusual or significant trends., Communications with management and those charged with govemance regarding relevant matters was undertaken throughout the audit and on ¢ompletion Because of the inherent limitations of an audit, there is a risk that we wll not detect all irregularitles. including those leading to a material misslatement in the financial statements or non-compliance with regulation. This risk liicreases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instsnces of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAS (UK). we exercise professional judgement and maintain professional scepticism throughout the audit. We also= Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audit eviden¢e that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions. misrepresentations, or the override of internal control. Obtain an understsnding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charitable companys internal control. Evaluata Ihe appropriateness of aGcounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees, use of the going concern basis of accounting and. Page 6
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SANDWELL VALLEY SCHOOL LIMITED (CONTINUED) based on the audit evidence obtained, whether a material UnrtainlY exists related to events or conditions that may cast significant doubt on the charitable ¢ompanYs ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our Auditors, report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors, report. However, future events or conditions may cause the charitable company to cease to continue as a going concem. Evaluate the overall presentation. structure and content of the financial statements. including the disclosures. and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficienGies in internal control that we identify during our audit. Use of our report This report is made solely to the charitable companvs trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might state to the charitable companrfs trustees those matters we are required to state to them in an Auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members. as a body. for our audit work, for this report. or for the opinions we have formed. David W Farnsworth (Senlor Statutory Audltor) for and on behalf of Feltons, Statutory Auditor 8 Sovereign Court 8 Graham stet Bimilngham B13JR 16 March 2026 Feltons, Statutory Auditor are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 7
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from.. Charitable activities Other trading activities Investments 1.375,834 204 59,694 1.375.834 204 59.694 1,443.315 10,975 33,835 Total income 1,435.732 1,435,732 1,488,125 Expenditure on: Charitable activities 1,366,798 1,366,798 1,386, 862 Total expenditure 1,366,798 1,366,798 1,386,862 Net Income Prior Year Adjustment- Accrual 68,934 68,934 101.263 64.712 Net movement in funds 68,934 68,934 165,975 Reconciliation of funds: Total funds brought forward Net movement in funds 1,658.790 68,934 1.658,790 68,934 1,492,815 165,975 Total funds carried forward 1,727,724 1,727,724 1,658, 790 The Statement of financial activities includes all gains and losses recognised in the year. All of the companvs activities derive from continuing operations durtng the above two financial periods. The notes on pages 12 to 24 form part of these financial statements. Page 8
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) REGISTERED NUMBER: 10288316 BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixed assets Tangible assets 10 168,262 127.666 168,262 127,666 Current assets Debtors Cash at bank and in hand 287,743 1,646,222 103.891 1.658.831 1.933,965 1. 762. 722 Current liabilities Creditors: amounts falling due within one year 12 (374,503) (231,598) Net current assets 1,559.462 1,531,124 Total assets less current liabilities 1,727,724 1,658, 790 Net assets excluding pension asset 1,727,724 1.658, 790 Total net assets 1,727,724 1, 658, 790 Charity funds Restricted funds Unrestricted funds 1,727,724 1.658. 790 Total funds 1,727,724 1.658,790 Page 9
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) REGISTERED NUMBER: 10288316 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 The entity was entitled to exemption from audit under section 477 of the Companies Ad 2006. The members have not required the entity to obtain an audit for the year in queetion in accordance with section 416 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small Gompanies regime. The financial statements were approved and authorised for issue by the Trustees on 06 March 2026 and sigried on their behalf by: Mrs M Hall The notes on pages 12 to 24 form part of the£e financial statements. Page 10
SANDWELL VALLEY SCHOOL LIMITED (A company Ilmited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cash flows from operating actlvltles Net cash used in operating activities 61.789 460,825 Cash flows from Investing activities Purchase of tangible fixad assets (74,398) (86,489) Net cash used in investing activities (74,398) (86,489) Change in cash and cash equivalents in the year Cash and Cash equivalents at the beginning of the year (12,609) 1,658,831 374,336 1,284,495 Cash and cash equivalents at the end of the year 1,646,222 1, 658, 831 The notes on pages 12 to 24 form part of these financial statements Page11
SANDWELL VALLEY SCHOOL LIMITED (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 General information Sandwell Valley School Limited is a private company limited by guarantee incorporaled in England and Wales. The registered office is shown in the reference and administrative details on page 1. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. The financial statements are prepared in Sterling, which is Ihe functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Sandwell Valley School Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Going concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 2.3 Incorne All income is recognised once the charity has entitlement to the income, it is probable that the income will be reGeived and the amount of income receivable can be measured reliably. Cash donations are recognised on receipt. Other donations are recognised On the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax reGoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. On rec8iPt. donated professional services and facilities are recognised on the basis of the value of the gift to the charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 12
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (continued) 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributsble to a single activity are allocated directly to that activity. Shared costs which Gontribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charttable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated 5UPPOrt costs. All expenditure is inclusive of irrecoverable VAT. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and cash associated with the strategic management of the charity. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance AGI 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respeGt of income or capital gains received within categoriés Covered by Chapter 3 Part 110* the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such incotne or gains are applied exclusively to charitable purposes. 2.7 Tanglble fixed assets and depreciation Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Page 13
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policies (continued) 2.7 Tangible fixed assets and depreclatlon (continued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis.. Short-term leasehold property Property improvements Motor vehicles Fixtures and fittings Computer equipment 4 % straight line 200/0 straight line 20 % straight line 200A straight line 20 % straight line Gains and losses on disposals are detemiined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities. Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {if any). 2.8 Debtors Trade and other debtor5 are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.9 Cash at bank and in hand Cash at bank 8nd in hand includes cash and short-tenn highly liquid investments with a short maturity of three monlhs or less from the date of acquisition or opening of the deposit or similar account. 2.10 Liabllities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a resull of a past event. it is probable that a transfer of economic benefit will be required in settlement, and Ihe amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anliGipates it will pay to settie the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tsx disGount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. Page 14
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (continued) 2.11 Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Iransa¢tion value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Employee and retirement benefits Employee benefits Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Retirement benefits Payrnents to defined contribution retirement benefit schemes are charged as an expense as they fall due. 2.13 Fund accounting General funds are unrestricted fijnds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Investment income. gains and losses are allocated to the appropriate fund. Page 15
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Critical accounting estimates and areas of judgement In the applications of the charitys accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on 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 in which the estimate is revised where the revision affecls only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical accounting estimates and assumptions.. The charity makes estimates and assumptions conceming the future. The resulting accounting estimates and assumptions will, by definition. seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carying amounts of assets and liabilities within the next financial year are discussed below. Critical areas of judgement Useful economic lives of non-current assets . The useful economic lives of non-current assets have been derived from the judgement of the Directors. using their best estimate of write down period. Bad debt provision A bad debt provision is set up when the likelihood of recovering the debt is diminished. The level of provision will be based on any current repayment plan entered into and which is being adhered to by the debtor. together with an estimate of the likelihood of the amounts due being fully recovered. Income from charitable activities Unrestricted funds 2025 Total funds 2025 Total funds 2024 Educational operations 1,375.834 1,375,834 1,443.315 Page 16
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Investment income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Bank interest receivable 59,694 59.694 33, 835 Analysis of expenditure by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Total funds 2024 Educational operations 997,054 369,744 1.366,798 1.386,862 Total 2024 1,036.275 350,587 1, 386, 862 Page 17
SANDWELL VALLEY SCHOOL LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expenditure by activities (continued) Analysis of dlrect costs Educational operations 2025 Total funds 2025 Total funds 2024 Staff costs Depreciation Sessional workers and tutors 619,040 33,802 38,604 21,483 30.930 24,610 123,971 6,945 619,040 33,802 38,604 21,483 30,930 24,610 123,971 6,945 613,463 16,431 61,549 20.550 64,093 25, 789 118,617 5, 294 40 35.591 5.611 7,631 61,616 Insurance Maintenance Heat, light and power Rent, rates and leasing Travel Equipment purchases Equipment hire and maintenance Provisions Agency costs Sundries 25.475 4,905 14,355 52,934 25,475 4,905 14,355 52,934 997,054 997,054 1,036,275 Analysls of support costs Educatlonal operations 2025 Total funds 2025 Total funds 2024 Staff costs Sundrie5 Accountancy Printing, postage, stationery and telephone Professional fees Governance costs 265,304 64,443 7.332 26,081 834 5,750 265,304 64,443 7.332 26,081 834 5.750 262.912 42,230 5.944 33,081 6,420 369,744 369,744 350,587 Page 18
SANDWELL VALLEY SCHOOL LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Auditors. remuneration 2025 2024 Fees payable to the charity's auditor for the audit of the charitls annual accounts 5,750 6,420 Staff costs 2025 2024 Wages and salaries Social security costs Contribution to defined contribution pension schemes 779,565 84,507 20.272 778,821 75,933 21,621 884,344 876.375 Wages and salaries include a compensation payment of £3.333 paid to a former employee. The average number of persons employed by the charity during the year was as follows: 2025 2024 Staff 25 25 The number of employees whose employee benefits {excluding employer pension costs) exceedecl £60,000 was.. 2025 2024 In the band £90.001- £100,000 Trustees. remuneration and expenses During the year, one or more Trustees has been pai(J remuneration or has received other benefits from an employment with the charity. The value of Trustees, remuneration and other benefits was as follows.. 2025 2024 M Hall Remuneration 98.552 97,292 Page 19
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Trustees, remuneralion and expenses (continued) Mrs M Hall is the principal of the charity and also a director of Priorslee Academy which provided no services to the charity in the current or prior year. The above remuneration was received for her role as Principal. During the year ended 31 August 2025, no Trustee expenses have been incurred (2024 - £MIL). 10. Tangible fixed assets Short-term leasehold Property property improvements Fixtures and Computer fittings equipment Motor vehicles Total Cost or valuation At 1 September 2024 Additions 74,121 35,860 50.529 12,018 5,710 5,441 166,220 74,398 56,939 At 31 August 2025 74,121 56,939 35,860 62.547 11,151 240,618 Depreciation At 1 September 2024 Charge for the year 23,966 2,965 7,172 7.172 5,788 12,510 1,628 2,230 38,554 33,802 8.925 At 31 August 2025 26,931 8,925 14,344 18,298 3,858 72,356 Net book value At 31 August 2025 47,190 48,014 21.516 44,249 7,293 168,262 At 31 August 2024 50,155 28, 688 44.741 4,082 127,666 Page 20
SANDWELL VALLEY SCHOOL LIMITED (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Debtors 2025 2024 Due within one year Trade debtors Olher debtors Prepayments and accrued income 228,317 7.817 51,609 72.282 5,849 25, 760 287,743 103,891 12. Creditors: Amounts falling due within one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals and deferred inGome 64,684 142,082 159,412 8,325 40,400 21,631 165,517 4,050 374,503 237.598 13. Summary of funds Summary of fund5 . current year Balance at 1 September 2024 Balance at 31 August 2025 Income Expenditure General funds 1,658,790 1,435,732 (1,366,798) 1,727,724 Summary of funds - prior year Balance at I September 2023 Prior Year Adjustment- Accrual Balance at 31 August 2024 Income Expenditure General funds 1.492.815 1,488,125 (1.386.862) 64,712 1,658, 790 Page 21
SANDWELL VALLEY SCHOOL LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year 168,262 168,262 1,933,965 1,933,965 (374,503) (374,503) Total 1,727,724 1,727,724 Analysis of net assets between funds - prior year Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 127,666 127,666 1,762,722 1,762,722 (231,598) (231,598) 1.658,790 1,658,790 15. Reconciliation of net movement in funds to net cash flow from operating activities 2025 2024 Net inrne for the year (as per Statement of Financial Activities) 68,934 101,263 Adjustments for: Depreciation charges Decreasel(increa8el in debtors Increase in creditors 33,802 (183,852) 142,905 16,431 337.562 15,243 Net cash provided by operating activities 61,789 470,499 Page 22
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16. Analysis of cash and cash equivalents 2025 2024 Cash in hand 1.646,222 1, 658,831 Total cash and cash equlvalents 1.646,222 1, 658,831 17. Analysis of Changes in net debt At1 September At31 2024 Cash flows August 2025 Cash at bank and in hand 1,658,831 (12,609) 1,646,222 1,658,831 (12,609) 1,646,222 18. Pension commitments The company contributes to the personal pension plans of eligible employees. The tolal charge in the year to 31 August 2025 was £20,205 {2024 £21,621). 19. Operating lease commitments At 31 August 2025 the charity had commitments to make future minimum lease payments under non- cancellable operating leases as follows-. 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 120.000 480,000 1,380,000 120,000 480,000 1,500,000 1,980,000 2, 100,000 Page 23
SANDWELL VALLEY SCHOOL LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. Related party transactions During the year the charity entered into the following transactions with related parties A Coley. M Hall and G Walker are trustees of Sandwell Community Caring Trust. During the year the Charity was recharged expenses totaling £893 (2024.. £6,439). At 31 August 2025, there were no b8lances due to Sandwell Cotnmunity Trust. Page 24