2023-08-31-accounts - Swalcliffe Park School CIO

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	~	~
Autumn 2018		41	43
Spring 2019		45	51
Summer 2019		48	54
	~	~
Autumn2019		45	48
Spring 2020		49	56
Summer 2020		53	58
	~	~
Autumn 2020		60	65 (Sept) 69 (Nov)
Spring 2021		68/69	71
Summer 2021		68/69	71
	~	~
Autumn 2021		64	71
Spring 2022		66	72
Summer 2022		69	71
	~	~
Autumn 2022		67	73
Spring 2023		73	73
Summer 2023		76	76

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Autumn	Safeguarding		EHCP and Annual	EHCP and Annual	Reviews
Spring	Powers of attorney		SaLT:Shape	coding
Summer	Careers and preparation	for leaving	Independence	Plus

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o Had an acceptance rate for offers ofemploym	o Had an acceptance rate for offers ofemploym	o Had an acceptance rate for offers ofemploym	o Had an acceptance rate for offers ofemploym	ent of100%
o No leavers during their probationary periods.
o An average length ofcontinuous		service	for	staff of7years
o Demonstrated a commitment	to	accommodating flexible working requests and part-time				working
options (8cases) whilst still	putting the students' needs for continuity ofprovision				and keyworking
support at the centre ofour	decision-making.
During the academic year, the following		positions	were vacated between 1"September		2022	and 31
August 2023:
Assistant Psychologist (fixed term	contract) x2			Our 2 Assistant Psychologists left as planned at the end oftheir fixed-term contracts.
Learning Support Assistant x 3				LSAs —3 prornotions or changes	of career.
Senior Teacher Science x 1				Senior Teachers —3 promotions	within	the
Senior Teacher Key Stage 3x2				SEND field. SaLTAssistant —end offixed term placement.
Speech 8 Language Therapist x 1				RCW- return to full-time university	course.
SALT Assistant x 1				Vice Principal —new senior opportunity within
Residential Care Worker x 1				a group of international schools.
Vice Principal x 1

Governors
Caroline Adams
Peter Everett
Kiran Hingorani	Chief Executive
Gill Manthorpe	Vice Chair
Rob Piner	Principal
Paula Protherough	Chair
Rachel Sands
Ryan Smith
Cathy Stoertz
John Tasker
Kirn Harman		Appointed	05/05/2023
Wendy Murphy		Appointed	05/05/2023

s
Andrew Sears	Member of staff	Resigned	31/08/2023
Aaron Moore	Member ofstaff	Appointed	01/06/2023
Debbie Andrioli	Parent	Resigned	31/08/2023
Michelle White	Parent
Dr Karen Nokes	Parent	Appointed	01/09/2023

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JW3.rlifFo Park Jchno, Matters on which we are required lo report by exception In the light of the knowledge and understsnding of the charitabl8 company and 118 gnvironment obtained in the course of the audit, we have not identified materi81 misstatements in the Report of the Trustees. We have nothing lo report in respect of the following matters in relation to which the Challties (Accounts and Reports) R8gulatlDns 2008 require us lo report to you rf, in our opinion.. information givèn in the financial stalem9n15 is Inconsistent in any material respect with the trustees, report., or the charity has not kept adequats accounting words,. or the financial slalemenls are not in agreement with the accounting records and relums,. or we have not received all the information and oxplanatlons wo require lor our audit. Responsibilfti8s of Trustees As explained more fully in the Stalomenl o>f Trustee5 Responsibilities sel out on page 17, the Truslees are responsibl8 for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control a8 the Trustees determine is nece55ary lo enable the prepafalion of financial slalemènts that are free from material misslalement. whether due lo fraud or eror. In preparlng th8 financial slalemenls. the Trustees are responsible for assessing the charity s abllity lo continue as a going concem, disclosing, as applicable. maiters related to going concern and usinglhe going concern basis of accounllng unless the Trustees ailher intend to liquidate the charity orto cease operations, or have no realistic allernalive but lo do 80. Our rE5ponsibilili95 lor the audit ol the Iin8nclal sl318rnents We have been appointed as auditor undor section 144 of the Charllies Act 2011 and report in oocordanc8 with ragulalions m¥de under section 154 of that Act. Our objecllvos are lo obtain r8asonabl8 assuranc8 about whether the financial statements as a whole are free frorn material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurancg is a high level ol 8ssuranc8, but is not a guaranlee that gn audit conducted in accordance with ISAS IUKI will always det8cI a mat8dal misstatemenl wlien It exists. Misstatements can arisg from fr8ud or error and are consldere¢J malerl81 If, IndSvldu8lly or In the aggregate. th&y could rea80nably be expocled lo Influence the economic decisions of u88rs taken on the basis ol th888 financlal statemonts. A further descrlpllon of our r88ponslbililies is available on the Financi81 Reporting Councll's w8b811& gt.. hllps'.Ilwww.frc.ory.uklOur-WorklAudiVAudil-dnd-assuranLelSldnddrd¥-dnd-guiddncelSlaridards-and- guidance-lor-audilor51AUdilors-responsibililies-foT-audiUDèscrfpiion-ot-audllors-r8sponsiblllI1as-1Or-audLI.dspX. This é8scription forms part of our auditor's report Use olour report Thi5 report 15 made solely lo the charlly's Iruslee5, as a body, in accordance Part 4 of the Charitle3 (Accounts and Reports) Regulations 2008. Our audit work has begn undertak8n so that W8 rnight slate to the charity'$ trustees those matters we &re required lo slate to them in an auditors. report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility ID anyone other than the charlty and the charity's as a body. for our audIork. for this report. or for th8 opinions we have fomied. LLP Oaffems LLP Islalulory Audilorsl Chartered Accountants One EaStr00d Binley Business Park Coventry CV3 2UB Daffgrns LLP is ellglble lo act as an 8udilor In terms of socllon 1212 of the Companies Act 2006. Dale. IS 2D2L 29

								Year ended	Year ended
				Unrestricted	Resticted		Endowment	31.08.23	31.08.22
				funds	funds		fund	Total funds	Total funds
			Notes	I
INCOME AND ENDOWMENTS		FROM
Charitable activities
—Swaklffe Park School CIO			3	7,064,970	248,601			7,313,571	6,759,916
Investment income			2	64,574				64,574	37,600
Total				7,129,544	248,601			7,378,145	6,797,516
EXPENDITURE ON
Raising funds			4	15,140				15,140	9,514
Chantable activities
- Swaktl'fe Park School CIO			5	5,993,513	368,733		149,102	6,511,348	5,934,742
Other				12,286				12,286	38,572
Total				6,020,939	368,733		149,102	6,538,774	5,982,828
Net gains/(losses) on 'nvestments				(78,936)				(78,936)	(102,134)
Remeasurement gain/(loss) beneft pension scheme	on darned		16	366,000				366,000	3,967,000
NET INCOME				1,395,669	(120,132)		(149,102)	1,126,435	4,679,554
Transfer between funds
Net movement h funds				I 395669	(120	132)	(149I102)	1(126p435	4 679 554
RECONCILIATION OF FUNDS
Total fund brought forward				7,128,972	120,581		3,197,173	10,446,726	5,767,172
TOTAL FUND CARRIED FORWARD				8,524,641		449	3,048,071	11,573,161	10,446,726

At 31August 2023
					Year ended	Year ended
		Unrestricted	Resticted	Endowment	31.08.23	31.08.22
	Notes	funds I	fundsI	fund f	Totalfunds I	Total funds f
FIXEDASSETS
Tangble fixed assets	10	3,085,488		3,048,071	6,133,559	6,172,248
Investments	11	1,450,259			1I450 259	1~480g093
Investment property	12	753,761			753~761	425g000
		5,289,508		3,048,071	8,337,579	8,077,341
CURRENT ASSETS
Debtors	13	489,972			489,972	979,568
Cash at bank		4,388,083			4g388I532	3 158050
		4,878,0SS	4-'l9		4,878,504	4,137,618
CREDITORS
Amounts falling due wthin one					(2,369,922)	(2,181,233)
year
NET CURRENT ASSETS					2 508I582	lg956~385
TOTAL ASSETSLESS CURRENT LIABILITIES					10,846,161	10,033,726
Defined benefit pension lebilly	16	727,000			727,000	413,000
NET ASSETS		8,524,641	449	3,048,071	11,573,161	10,446,726
FUNDS
Unrestricted funds	17				sg524 641	7 128972
Restricted funds	17					120,581
Endowment funds	17				3,048,071	3,197,173
TOTAL FUNDS					11I573I161	10p446 726

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							Year ended	Year ended
							31.08.23	31.08.22
						Notes	5	5
	fbws from operating activities:
	generated from operations					1	2,018,509	2,199,345
Net	cash provtled by (used in) operating	activities					2,018,509	2,199,345
	fbws from investing activities:
	iase of tangible fixed assets						(474,834)	(1,926,380)
	iase offixed assets investments						(129,182)	(1,000,000)
	isal offxed assets bvestments						80,176
	iase of investment property						(328,761)
	sf tangible fixed assets							45,450
	tment income						64,574	37,600
	:ash provided by (used in) investing	activities					(788,027)	(2,843,330)
	ge in and cash equivalents in reporting		period				1,230,482	(643,985)
Cash	and cash equivalents at the beginning		ofthe reportbg		period		3,158,050	3,802,035
Cash	and cash equivalents at the end of	the	reporting	period		2	4,388,532	3,158,050

					Year	Year
					31.08.23	31.08.22
Net income forthe		reporting	period (as per the statement offinancial activities)		1,126,435	4,679,553
Adjustments	for:
Depreciation	charges				505,910	448,470
(Gah)/bss	on investment				78,840	102,134
(Profit)/loss	on disposal of fhed		assets		7,613	(28,455)
Investment	hcome				(64,574)	(37,600)
Defined beneft pension movements				less payments	(314,000)	(3,616,999)
Decrease/(Increase)		h debtors			489,596	380,530
Increase/(Decrease)		h creditors			188,689	271,712
Net cash activities	provided	by/(used	in)	operating	2t0181509	2~199~345

								Year	Year
								31.08.23	31.08.22
								6	6
	Rent race'ved							13,655	12,992
	Investment		Poiffolio		income			37,766	20,149
	Interest	receivable						13,153	4,459
								64,574	37,600
3.	Income from		charitable		activities
								Year	Year
								31.08.23	31.08.22
						Actvlty		6	f
	Local authority			Fees		Swakiliffe	Park School CIO	6,940,881	6,535,984
	Other Income					Swadlffe	Park School CIO	6,108	11,693
	Grants					Swakfffe	Park School CIO	366,582	212,239
								7,313,571	6,759,916
	Grants	received		included		in the above are as fodws:
	DFE Grants							366,582	212,239

4.	Raising funds
				Year	Year
				31.08.23	31.08.22
	Investment	management	costs
	Portfoto Management			15,140	9,514
5.	Charitable activities costs
				Year	Year
				31.08.23	31.08.22
	Swaictffe Park School CIO			6,511,3'l8	5,934,742
6.	Support costs
				Year	Year
				31.08.23	31.08.22
	Other resources expended			12,286	38,572
7.	Net income/expenditure
				Year	Year
				31.08.23	31.08.22
	Auditors remuneration			11,770	11,000
	Depreciation	—owned assets		505,909	4'-l8,470
	(Surplus)/bss	on disposal of	fixed asset	8,457	28,455

Staff costs
			Year	Year
			31.08.23	31.08.22
Wages and sabr'es			3,268,706	2,684,090
Social secunty costs			330,772	308,207
Defined contrbutbn	pension costs		293,918	261,917
Defined benefit pension operathg		costs	175,000	399,000
			4,068,396	3,653,214

	Year	Year
	31.08.23	31.08.22
Senior Leadership
Teaching	38	36
	32	33
Admhistration	18	16
	91	88

	Year	Year
	31.08.23	31.08.22
f60,001 —670,000
f70,001 —680,000
F80,001 —690,000
F90,001 - 6100,000
F100,001 - 6110,000
6120,001 - F130,000
F130,001 - 6140,000

gible fixed ass	ets
		Freehold	Fktures and	Motor
		property	ftthgs	Vehicles	Total
		E	E		I
COST
As at 31August	2022	6,267,437	2,820,534	149,417	9,237,388
Additbns		18,001	456,833		474,834
Disposals			(77,263)		(77,263)
As at 31August	2023	6I2851438	3I200 104	149417	9i634 959
DEPRECIATION
As at 31August	2022	1,358,904	1,646,287	59,949	3,065,140
Charge for the	year	191,387	281,273	33,250	505,910
Eliminated on disposal			(69,650)		(69,650)
As at 31August	2023	1,550,291	1,857,910	93,199	3,501,400
NET BOOK VALUE
As at 31August	2023	4,735,147	1,342,194	56 218	6 133I559
As at 31August	2022	41908i533	li174i247	89468	6 172 248

11.	Fixed assets investment	Fixed assets investment
					Usted/unlsted
					investments
	As at 31August	2022			1,480,093
	Addtions				129,182
	Disposals				(80,176)
	Revabations				(78,840)
	As at 31August	2023			1,450,259
	NET BOOK VAWE
	As at 31August	2023			1,450,259
	As at 31August	2022			1,480,093
12.	Investment property
	MARKET VAWE
	As at 31August	2022			425,000
	Addbora				328,761
	As at 31August	2023			753,761
	The 'nvestment	pmperty	has been valued	by the trustees at 31August 2023.

Debtors: amounts	Debtors: amounts	falling	due within one year
				2023	2022
				f	f
Trade debtors				390,486	874,470
Prepayments	and	accrued	income	99,486	105,098
				489,972	979,568

					2023	2022
					6	6
Trade creditors					256,645	176,155
Social securty and other		taxes			78,238	73,184
Other creditors					14,789	53,283
Deferred	hcome				2,007,218	1,850,647
Accnued	expenses				13,032	27,964
					2,369,922	2,181,233
Leasing	agreements
Minimum	lease payments	under non-cancellable	operating	leases fall due as follows:
					2023	2022
					6	6
Within one year					16,384	11,620
Between	one and five years				29,524	45,628
					45,908	57,248

						Defined benefit pension	plan
						2023	2022
						5	5
Fair value of	plan assets					6,865,000	6,856,000
Present value	of funded	obl'gations				6,138,000	6,443,000
Net asset						727,000	413,000
						2023	2022
The total cost recognised			h the year	was as folows:			6
Current service costs						175,000	399,000
Net interest from defbed			benefit hbitty			(16,000)	55,000
Total defhed	benefit cost		recognised	in Statements	of Financial Activities	159,000	454,000

							2023		2022
Changes b fab vabe of scheme			assets		were as folbws:		6		6
Opening fai value of schemes assets							6,856,000	7,120,000
Interest income							290,000		118,000
Empbyers contrbutbns							107,000		104,000
Participants' contrb utions							48,000		48,000
Estmated benefts paid							(197,000)	(128,000)
Other expenses							32,000
Return on assets excluding		amounts		included b net interest			(271,000)	(406,000)
							6,865,000	6,856,000
Changes h present value		ofthe	defined		benefit obigatbn	were as	2023		2022
folbws:							6		6
Opening defned beneft	obligatt&n						6,443,000	10,324,000
Current service cost							175,000		399,000
Interest cost							274,000		173,000
Participants' contrbutions							48,000		48,000
Estinated benefts paid							(197,000)	(128,000)
Actuarial gains/(bases)							(1,297,000)	(4,359,000)
Changes in fnancial assumptions							18,000		18,000
Other experience gabs							674,000		(32,000)
Changes h demographic	assumption
							6,138,000	6,443,000
The remeasurements recognised			in Statement of Financial			Activities are as folbws:
							Defined benefit	pension	plan
							2023		2022
							6
Changes in financial assumptions							1,297,000		4,359,000
Other experience gains							(18,000)		(18,000)
Changes h demographic	assumptions						(642,000)		32,000
Return of assets excludbg		amounts		bcluded in net interest			(271,000)		(406,000)
							366,000		3,967,000

The major categories of scheme assets	The major categories of scheme assets	The major categories of scheme assets	The major categories of scheme assets	as a percentage	as a percentage	ofthe total	scheme assets	are as
fobws:
								2023	2022
								72%	75%
Bonds								16%	15%
Property								10%	9%
Cash								2%	1%
Prbcipal actuarial asumptions			at the balance sheet date:
								2023	2022
Pension Increase		rate (CPI)						3.00%	3.05%
Sabry increase	rate							3.00%	3.05%
Discount rate								5.20%	4.25%
The mortaity	assumptbns		used for bngeviy		(in years)	on ret'rement	at age 65are:
								2023	2022
Current pensioners
- Males								20.9years	22.2 years
Females								24.6years	26.1years
Future pensioners		(assumes	members	aged	45 as at latest formalvalauation)
								2023	2022
Current pensbners
- Males								22.6years	23.1years
Females								25.9 years	26.1years

Movement in fu	n	ds
								Net	Transfers
								movement in	between
							At 01.09.22	funds	funds	At 31.08.23
							6	6	6	5
Unrestricted funds
Generalfund							7,128,972	1,395,669		8,524,641
Restricted funds
Capital Grant and		Mahtenance			Grants		117,050	(117,050)
EFSA Grants							3,531	(3,082)
							120,581	(120,132)
Endowment funds
Freehold property							31197~173	(149102)		3,048,071
TOTAL FUNDS							10,446,726	1,126,435		11,573,161
Net movement	h	funds,	included			in the above as folowsr
							Incoming	Resources	Gains and	Movement
							resources	expended	bsses	in funds
							6		6	6
Unrestricted funds
General fund							7(129I544	(6y020g939)	287I064	1~395~669
Restricted funds
Covid 19 Funding							21,266	(21,266)
National Tutoring		Grant					3,384	(3,384)
Teachers Pay and Pension				Grant			77,786	(77,786)
Capital Grant and		Mahtenance			Grants		134,916	(251,966)		(117,050)
EFSA Fund'ng							11,249	(14,331)		(3,082)
							248,601	(368,733)		(120,132)
Endowment funds
Freehotl property								(149,102)		(149,102)
TOTAL FUNDS							71378~145	(6538774)	287,064	1,126,435

Analysis ofthe Statement of Financial Activities for the year ended 3	Analysis ofthe Statement of Financial Activities for the year ended 3	Analysis ofthe Statement of Financial Activities for the year ended 3	Analysis ofthe Statement of Financial Activities for the year ended 3	Analysis ofthe Statement of Financial Activities for the year ended 3	Analysis ofthe Statement of Financial Activities for the year ended 3	1August 20	22 by fund typ	e
The 2023 statement ofFinancial Activity only shows the 2022 comparative						data in total.	The statement	below shows
the 2022 comparative	date	by fund as well.
				Unrestricted	Resticted		Endowment	Total funds
				funds		funds	fund
				6		E	I
INCOME AND ENDOWMENTS			FROM
Donations and legacbs
Chartabb actkirties
Swaklffe Park School CIO				61535y984		223 932		6,759,916
Investment income				37,600				37,600
Total				6,573,584		223,932		6,797,516
EXPENDITURE ON
Raisbg funds				9,514				9,514
Charitabb activities
Swakiffe Park School CIO				5,589,425		196,216	149,101	5,934,742
Other				38,572				38,572
Total				5~637~511		196216	149I101	5)9821828
Net gahs/(bsses) on investments				(102,134)				(102,134)
Remeasurement gain/(bss) benefit pensbn scheme		on defined		3,967,000				3,967,000
NET INCOME				4800I939		27 716	(149101)	4~679~554
Transfer between funds
Net movement in funds				4 800 939		27 716	(149~101)	4g679~554
RECONCIIIATION OF FUNDS
Total fund brought forward				2 328 033		92I865	3~346~274	5767 172
TOTAL FUND CARRIED	FORWARD			7~128~972		120 581	3 197~173	10446 726