**REGISTERED COMPANY NUMBER: 10784165 REGISTERED CHARITY NUMBER: 1174296** **Report of the Trustees and** ## **Financial Statements** **for the Year Ended 31 August 2023** **for** **Hollygirt School** Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers Alexandra House 43 Alexandra St Nottingham Nottinghamshire NG5 1AY **Hollygirt School** ## **Contents of the Financial Statements for the Year Ended 31 August 2023** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|8| |**Report of the Independent Auditors**|9|to|10| |**Statement of Financial Activities**||11|| |**Balance Sheet**||12|| |**Cash Flow Statement**||13|| |**Notes to the Cash Flow Statement**||14|| |**Notes to the Financial Statements**|15|to|22| |**Detailed Statement of Financial Activities**|23|to|24| **Hollygirt School** ## **Reference and Administrative Details for the Year Ended 31 August 2023** **TRUSTEES** Dr D Costley (resigned 23.11.23) Mrs R Archer J Townsend Mrs S Baylis (resigned 30.11.22) C Adams Mrs A Bingham Ms J Roche (resigned 7.6.23) Mrs A Turton Dr J West **REGISTERED OFFICE** Elm Avenue Nottingham Nottinghamshire NG3 4FG **REGISTERED COMPANY NUMBER** 10784165 **REGISTERED CHARITY NUMBER** 1174296 **AUDITORS** Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers Alexandra House 43 Alexandra St Nottingham Nottinghamshire NG5 1AY **OFFICERS** Dr H Barsham - Head (resigned 15.04.24) Mr D Cholerton (appointed 15.04.24) Mrs L Hudson - Bursar & Clerk to Trustees (resigned 16.12.22) Mr C Bowker - Bursar & Clerk to Trustees (appointed 17.12.22) Page 1 **Hollygirt School** ## **Report of the Trustees for the Year Ended 31 August 2023** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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 Republic of Ireland (FRS 102) (effective 1 January 2019). The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland published in October 2019. ## **Trustees of the charity** The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end are given in the charity information on page 1 of these financial statements. Page 2 **Hollygirt School** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The original objectives of the school, as set out in the Trust Deed of May 1966, as amended by the scheme dated July 2014 are 'the advancement of education of girls and young women and boys and young men in England and Wales and in particular the advancement of the school and its interests.' These objectives have not changed on incorporation. The Trustee and Senior Leadership strategy day in November 2022 focused on developing a Five Year Strategic Plan for Hollygirt School. The subsequent Plan focuses on building on strengths of our provision whilst identifying areas for further development. The Strategy, published in February 2023, sets out a clear mission for Hollygirt to offer "...a nurturing education in a supportive family-oriented community; enabling pupils to thrive, fulfil their academic potential and develop as socially responsible individuals, ready for life." The School’s motto remains unchanged - **Ever Onward and Upward** ## **Hollygirt School Aims:** All within our school community hold the core Aims of Hollygirt at the heart of all planning and delivery. These aims set out our intention to: - offer a nurturing and bespoke education that allows students to thrive and achieve their academic potential within small classes. - foster a warm, vibrant, family-orientated community in the heart of Nottingham that aims to develop socially responsible individuals ready for successful lives. - actively promote Fundamental British Values through developing an understanding of respect for self, the school and the wider community in fulfilling our values of Kindness, Honesty, Resilience and Hard work. The Head Teacher’s report to the Trustees in June 2023, highlighted significant achievements that exemplified the collective hard work and commitment of all within the school. Within the year, the Head has restructured the Senior Leadership Team and established a new line management structure with new posts for assistant heads, heads of key stages and a new special educational needs coordinator (SENCO). The restructure also led to a restructure of the PSHE curriculum and improvements to Department Development Plans. There have been many changes implemented at Hollygirt during the year which have varied from small adjustments to significant and ongoing developments. The renaming of the Junior and Nursery schools to Prep School and Kindergarten reflect the school’s offer whilst a new summer uniform for our younger students has been equally well received. The cloud-based school management information system (iSAMS) was launched to enable all staff to input, share and review achievement data, attendance, etc to inform the support that each child received. Similarly, the introduction of more intuitive child safeguarding and wellbeing software (CPOMS) was implemented within the year and both were supported by extensive staff training and one-to-one support. The increase in pupil numbers enabled us to fund significant building projects including moving the kitchen, development of new toilets and refurbishing Stevenson House to enable a new sixth form centre. The Trustees have been persuaded that the demand by parents for a new Sixth Form provision will respond to the need to extend the existing nurturing learning environment that Hollygirt School offers. Led by a newly appointed Head of Sixth Form, the curriculum and pastoral provision is in place in anticipation of welcoming the new cohort in September. To enable greater engagement in sporting competitions and visits to enrich the curriculum, the school purchased a smart new minibus. For the first time in many years, the school also hosted a joyous whole school Sports Day in the summer term. To support staff wellbeing, in addition to the staff ‘golden’ days and the opportunity to discuss any concerns with the Head Teacher, a new Cycle to Work Scheme was introduced for all staff. The new Bursar joined the School within the year and has further developed the excellent work of the previous Bursar during a period of hand-over that ensured consistency of financial management and the opportunity to consider best practice in terms of debt and HR management. Hollygirt School’s Chair of Trustees, Dr Debra Costley, is an Associate Professor of Education at the University of Nottingham. Dr Costley led the School’s input into student voice for the School of Education’s collaborative learning research project and the project will report next year. Page 3 **Hollygirt School** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **OBJECTIVES AND ACTIVITIES** ## **Public benefit** The charity reviews its aims, objectives and activities each year to help us achieve the goals and remain focused on our stated purposes. In setting our objectives the trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and fee-charging. ## **Community** Hollygirt School is committed to forging relationships and partnerships with the local and wider community for the benefit of pupils and our partners. The Prep school actively participated in a range of community events across the year with events being held in local churches and places of worship. Prep students gave a rousing rendition of carols at the annual concert held in the Victoria Centre. There have been new whole school initiatives such as Sparkle Weeks to promote acts of kindness, Odd Socks Day for Children in Need and activities in support of Anti-Bullying Week. The Science Fair was introduced as part of Science Week and students in KS2 and senior school presented projects to parents and grandparents. ‘Someone Special’ days have been introduced in the Prep School to invite parents and grandparents in to spend some time in classroom with children. Furthermore, we extended and combined the GCSE art exhibition to include Prep, invited parents and special guests to view the excellent art work on display. The annual celebration of student achievement, Prize Giving, was moved to September and continues to reward the academic, personal and sporting achievements of pupils. Further seasonal celebrations and parental engagement included The Christmas Fair and Christmas Carol Concert which attracted enthusiastic support. Later in the year, a special afternoon tea and concert was held in celebration of the Royal Coronation whilst Prep students enjoyed a summer garden party. To encourage ongoing dialogue with parents and carers, the School organised a Curry Night for parents and staff in the Spring term. Considering future opportunities for work is important to our school and a special Careers Day was introduced in Prep benefiting from the knowledge of guest speakers who shared their insights into the ‘world of work’ as part of the PSHE curriculum. Pupils completed and achieved their Bronze Duke of Edinburgh Awards this year including a range of voluntary work, trips and new skills being developed through this excellent scheme. Staff and senior leaders attended the large agricultural show, The Southwell Ploughing Match in September and now have a key role within the promotion of children’s classes in craft and handwriting. In addition to sponsoring classes, our attendance at the Show enables an excellent demonstration of the skills of our pupils to those in the wider rural community around north Nottinghamshire. One of our students won a trophy for the best Handwriting competition and there were many other certificate winners celebrating their achievements on the following Monday morning in assembly. The event also has an important role in encouraging alumni of the school to re-engage with us. Learning from other schools, Dr. Barsham continues her governance work as a chair of a curriculum committee and vice-chair of a state primary school in Peterborough whilst Mr. Dean continues as Safeguarding governor for a local state secondary school. Page 4 **Hollygirt School** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **STRATEGIC REPORT** ## **Achievement and performance Charitable activities** ## **Achievements** The Y11 cohort for 2022-2023 achieved the following outcomes from their summer examinations: 9 - 7 grades: 36% 9 - 4 grades: 70% 9 - 1 grades: 98% -74% of pupils achieved a pass grade in Maths and English. -One-third of pupils achieved a Value-Added score of 1 and above (maximum 2.5) -One-third of pupils achieved a Value-Added score of between 0 and 1 -One-third of pupils achieved a Value-Added score below 0. The school has continued to provide bespoke pathways to all pupils at Key Stage 4 and offers a variety of course aimed to support the learning and enjoyment through BTEC courses providing more vocational assessment routes to Level 1 and 2 qualifications. The review of the PSHE curriculum is ongoing and this will continue into the next academic year. ## **Sporting Achievements** As a smaller school, we are not highly selective in our teams and all pupils are encouraged to have a go at competitive sports. Our aim is that all those who are enthusiastic have opportunities to take part. We enter local leagues and competitive fixtures with maintained schools and independent schools throughout the City and beyond. Fixtures have included athletics, basketball as well as competing in Nottingham City League fixtures in cross country, dodgeball, badminton, basketball as well as Junior Sports Hall Athletics and football for both U11 and U13 boys. ## **Trips** The School has provided a wide range of trips across the year including: -Theatre trips in both Prep and Senior Schools -Prep visit to Video Game Museum in Sheffield -Y6 Orienteering at Wollaton Park -Y4-6 Trip to Mary Arden Farm in Stratford -Cadbury World Trip for Seniors -Newark Air Museum Reward trips for House points (which can be given for courteous behaviour) were continued and included Laser Tag and Planet Bounce. We have celebrated the end of term and the achievements of our students with trips to Alton Towers and Drayton Manor. Residential trips have included trips to Wollaton and The Mill for the Prep school and a geography field trip to Norfolk in the senior school. ## **Fundraising activities** ## **Charities supported** Charity fundraising is an important part of school life and the school continued to support a range of local, national and international charities throughout the year, raising in excess of £1,500. Charities included: - Odd Socks Anti-Bullying -BBC Children in Need -Comic Relief -Macmillan -Open Minds -Save the Children -Turkey/Syria Earthquake Appeal ## **Financial review** ## **Financial position** During the current year the school's activities generated a surplus of £110,785 (2022 - £12,850). Hollygirt continues to market the benefit of its ethos for pupils who would not thrive in the larger independent or main sector schools. Page 5 **Hollygirt School** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **STRATEGIC REPORT Financial review** ## **Reserves policy** Unrestricted funds increased to £1,699,391 (2022 - £1,588,606) and free reserves, excluding fixed assets, increased to £534,041 (2022 - £531,748). The trustees' policy is to utilise funds to ensure that high quality up-to-date facilities are provided for all pupils. Budgets are ideally set to ensure that sufficient working capital is available to meet current needs and future developments, without recourse to the sale of tangible assets. ## **Financial and risk management objectives and policies** The trustees are responsible for the management of risks face by the school. The detailed consideration of these risks are delegated to the headmistress and the full board, which is assisted by the senior leadership team. Risks are identified, assessed and controls are established throughout the year. A formal review of the charity's risk management process is undertaken on an annual basis. The principal risk associated with the school is the sudden reduction in the pupil roll. To mitigate the risk the trustees are committed to working with the school to ensure its position, with appropriate funding attributed to schools marketing; ensuring the pupils are well taught and well looked after in line with our aims and ethos and ensuring that quality staff are appointed, trained well and well supported. Page 6 **Hollygirt School** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, which constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Hollygirt School is registered with the Charity Commission under number 1174296 and details of the trustees, principal officers and professional advisors are given on page 1. ## **Our Ethos** Hollygirt School is a company limited by guarantee, formerly the 'The Rhoda Jessop Educational Charity'. It seeks to provide education for the children of Nottingham and further afield. Fees are set at a level to ensure the financial viability of the school and to ensure the level of education and care is consistent with our aims. Pupils from all backgrounds are welcome. Places are offered based on an interview and observations from taster lessons to ensure all admitted can benefit from a Hollygirt education. Those who self-identify as 'more able' sit formal assessments for scholarships in Year 7. We are an equal opportunity organisation: committed to a working environment that is free from any sort of discrimination. Our school is committed to safeguarding and promoting the welfare of our pupils. All the trustees, staff and helpers share this commitment. We have five members of staff who are DSL trained, who meet weekly with the Head. Meeting the Government's statutory guidance set out in 'Keeping Children Safe in Education' is at the heart of everything we do. We are dedicated to the principle of excellent pastoral care underpinning success (academic and /or other). The form tutor system sees all pupils through school with a dedicated class/form. There is a vertical house system which traditionally encourages peer support through weekly house time. A pupil development co-ordinator works on pupil well-being offering individual and group sessions and interventions as well as managing those on EHC funded plans and their 1:1 learning support assistants. A further specialist can offer English as an additional language sessions, dyslexia screening and support and a wealth of support strategies for students who are neurodiverse. ## **Communications** Parents receive regular information about the academic progress of the child through data capture short reports and more formal long reports each year and parents' evenings. Parents are kept informed of news weekly by an email newsletter and the end of year Holly Leaves publication contains information of recent successes and good news stories. ISAMS now allows parents to access the parent portal and view all school reports, sanctions and rewards. In addition, the website is regularly updated with news and photographs of school life. Home/school links are kept dynamic by our frequent postings on Facebook and Instagram. Regular school events promote the spirit of the Hollygirt families’ community e.g., Summer BBQ. ## **Bursaries, scholarships and other fee remissions** Hollygirt School attracts relatively few parents for whom the paying of fees is a struggle and we strive to balance the amount offered in giving with the revenue needed to maintain the business of the school. In the challenging economic times of the past few years, the school has been generous by the level of funding it has awarded in being sympathetic to the needs of parents who need assistance to take up or maintain a place. Means tested bursaries have been awarded to 15 pupils enabling them to attend the school. Of these, 2 are funded at 50% or more. Academic scholarships of up to 30% fee remission are offered to 19 pupils to assist in attracting the academically gifted pupil to the school. Music awards, currently offered to 2 pupils include free music and examination fees on an instrument. These attract talented musicians to the school. All award holders in turn support the school community and sometimes the external community in a variety of ways so their benefit spreads to the whole school and beyond. Additional funding is offered by means of a reduction for children of staff members (5 pupils) and sibling discounts (33 pupils). All scholarships, music awards and bursaries are advertised in the school literature and information packs sent to prospective parents and on the website. These discounts account for approximately 7% of the school's total income. The school will be offering sports scholarships of up to 10% for the first time for the forthcoming academic year. ## **Recruitment and appointment of new trustees** The appointment of trustees is set out in the trust deed. The trustees ae selected on the basis of their experience, skills and benefits they bring to the charity. They are briefed on all aspects of the trust by the chair and where applicable other trustees, prior to appointment. ## **Organisational structure** The day to day running of the school is delegated to the head with the help of the senior leadership team. The key management personnel of the school comprises the head, deputy head, head of junior school and the bursar. Page 7 **Hollygirt School** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Key management remuneration** The remuneration of key management personnel is set by the board, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the school's success. The appropriateness and relevance of the remuneration policy is reviewed annually by the board, including reference to comparisons with other independent schools to ensure that the school remains sensitive to the broader issues of pay and employment conditions elsewhere. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of Hollygirt School for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 29 May 2024 and signed on the board's behalf by: ## A M Bingham A M Bingham (May 29, 2024 18:37 GMT+1) Mrs A Bingham - Trustee Page 8 **Report of the Independent Auditors to the Members of Hollygirt School** ## **Opinion** We have audited the financial statements of Hollygirt School (the 'charitable company') for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including 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 (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 2023 and of its incoming 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. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 statements in the UK, including the FRC'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 that 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 uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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 inconsistencies or apparent material misstatements, we are required to determine whether this 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 material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the 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 Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires 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 trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. Page 9 **Report of the Independent Auditors to the Members of Hollygirt School** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal 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 the 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 concern 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. ## **Our responsibilities for the audit 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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, 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, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 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 misstatements in respect of irregularities, including fraud. Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims. In addition, and based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases 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 instances 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. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Use of our report** This report is made solely 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 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ## Steve Newman Steve Newman (May 29, 2024 19:43 GMT+1) Steven Newman LLB BFP FCA (Senior Statutory Auditor) for and on behalf of Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers Alexandra House 43 Alexandra St Nottingham Nottinghamshire NG5 1AY 29 May 2024 Page 10 **Hollygirt School** ## **Statement of Financial Activities** ## **for the Year Ended 31 August 2023** |**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
5
Teaching and welfare
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Teaching and welfare
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2023**
**Unrestricted**
**fund**
**£**
13,823
2,687,134
110
2,701,067
2,590,282
110,785
1,588,606
1,699,391|**2022**
**Total**
**funds**
**£**
6,127
2,237,069
101| |---|---|---| |||2,243,297| |||2,230,447| |||12,850
1,575,756| |||1,588,606| The notes form part of these financial statements Page 11 ## **Hollygirt School** ## **Balance Sheet** ## **31 August 2023** |**Notes**
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Stocks
13
Debtors
14
Cash at bank and in hand
15
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
18
Unrestricted funds:
General fund
**TOTAL FUNDS**|**2023**
**Total**
**funds**
**£**
1,165,350
12,064
825,462
844,530
1,682,056
(1,148,015)
534,041
1,699,391
1,699,391
1,699,391
1,699,391|**2022**
**Total**
**funds**
**£**
1,056,858
9,418
115,033
902,766
1,027,217
(495,469)
531,748
1,588,606
1,588,606
1,588,606
1,588,606| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 29 May 2024 and were signed on its behalf by: A M Bingham A M Bingham (May 29, 2024 18:37 GMT+1) A Bingham - Trustee The notes form part of these financial statements Page 12 ## **Hollygirt School** ## **Cash Flow Statement** ## **for the Year Ended 31 August 2023** |**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2023**
**£**
95,541
95,541
(153,887)
110
(153,777)
(58,236)
902,766
844,530|**2022**
**£**
(10,946)
(10,946)
(94,610)
101
(94,509)
(105,455)
1,008,221
902,766| |---|---|---| The notes form part of these financial statements Page 13 **Hollygirt School** ## **Notes to the Cash Flow Statement** ## **for the Year Ended 31 August 2023** ## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |**Net income for the reporting period (as per the Statement of Financial**||| |**Activities)**|110,785|12,850| |**Adjustments for:**||| |Depreciation charges|45,396|46,002| |Interest received|(110)|(101)| |(Increase)/decrease in stocks|(2,646)|210| |Increase in debtors|(710,430)|(2,397)| |Increase/(decrease) in creditors|652,546|(67,510)| |**Net cash provided by/(used in) operations**|95,541|(10,946)| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** ||**At 1.9.22**|**Cash flow**|**At 31.8.23**| |---|---|---|---| ||**£**|**£**|**£**| |**Net cash**|||| |Cash at bank and in hand|902,766|(58,236)|844,530| ||902,766|(58,236)|844,530| |**Total**|902,766|(58,236)|844,530| The notes form part of these financial statements Page 14 **Hollygirt School** ## **Notes to the Financial Statements for the Year Ended 31 August 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** Hollygirt School is a private company limited by guarantee in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities Act 2011, Companies Act 2006, and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report. Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company. This is normally upon notification of the interest paid or payable by the bank. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Expenditure is categorised under the following headings: Expenditure on charitable activities includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Irrecoverable VAT is charged as an expense against the activity for which the expenditure arose. Support costs are those that assist the work of the charity but not directly represent the charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. The analysis of these costs is included in note 7. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 2% on cost Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on cost Page 15 continued... **Hollygirt School** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and any accumulated impairment loss. Cost includes costs directly attributable to making the asset capable of operating as intended. ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchases, costs of conversion and other costs incurred in bringing stock to its present location and condition. ## **Taxation** The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## **Defined contribution pension schemes** The pension costs charged in the financial statements for teaching staff represent the contributions payable by the school during the year to People's Pensions, a defined contribution scheme. The school also operates a separate defined contribution scheme for some of its non-teaching staff. Contributions under both schemes are charged to the statement of financial activities on an accruals basis. ## **Going concern** The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to continue as a going concern. ## **2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. Bad debt provision - the trustees have estimated a provision for bad debt based on the experience of the parent and looking at afterdate cash received. This has been reviewed further in February 2024. ## **3. DONATIONS AND LEGACIES** |Friends of Hollygirt
Donations|**2023**
**£**
6,823
7,000
13,823|**2022**
**£**
6,127
-| |---|---|---| |||6,127| Income from donations and legacies was £13,823 (2022 - £6,127) all of which was attributable to unrestricted funds. Page 16 continued... **Hollygirt School** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **4. INVESTMENT INCOME** Bank interest receivable |**2023**|**2022**| |---|---| |**£**|**£**| |110|101| Income from investments was £110 (2022 - £101) all of which was attributable to unrestricted funds. ## **5. INCOME FROM CHARITABLE ACTIVITIES** |**Activity**
Tuition fees
Teaching and welfare
Cost of bursaries
Teaching and welfare
Other income from school
activities
Teaching and welfare
Catering income - Welfare
Teaching and welfare|**2023**
**£**
2,639,501
(99,459)
81,444
65,648
2,687,134|**2022**
**£**
2,211,014
(83,417)
54,257
55,215
2,237,069| |---|---|---| Income from charitable activities was £2,687,134 (2022 - £2,237,069) all of which was attributable to unrestricted funds. ## **6. CHARITABLE ACTIVITIES COSTS** |**CHARITABLE ACTIVITIES COSTS**|||| |---|---|---|---| |||**Support**|| ||**Direct**|**costs (see**|| ||**Costs**|**note 7)**|**Totals**| ||**£**|**£**|**£**| |Teaching and welfare|1,845,613|744,669|2,590,282| Expenditure on charitable activities was £2,590,282 (2022 - £2,230,447) all of which was attributable to unrestricted funds. ## **7. SUPPORT COSTS** |**SUPPORT COSTS**||||| |---|---|---|---|---| |||**School**|**Governance**|| ||**Management**|**activities**|**costs**|**Totals**| ||**£**|**£**|**£**|**£**| |Teaching and welfare|281,532|421,062|42,075|744,669| Support costs, included in the above, are as follows: ## **Management** |Wages
Social security
Pensions
Postage and stationery
Promotion and marketing
Sundries
Accountancy charges|**2023**
**Teaching**
**and**
**welfare**
**£**
205,139
17,260
5,100
9,083
15,810
15,439
13,701
281,532|**2022**
**Total**
**activities**
**£**
197,612
17,058
4,899
41
16,106
10,094
7,910
253,720| |---|---|---| Page 17 continued... **Hollygirt School** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **7. SUPPORT COSTS - continued School activities** |Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Repairs and maintenance
Cleaning
Motor vehicle expenses
Other professional
Prize-giving
Depreciation of tangible fixed assets
**Governance costs**
Auditors' remuneration
Professional fees|**2023**
**Teaching**
**and**
**welfare**
**£**
89,725
4,564
2,478
14,770
23,321
45,299
70,494
91,404
8,601
5,636
12,325
7,049
45,396
421,062
**2023**
**Teaching**
**and**
**welfare**
**£**
9,180
32,895
42,075|**2022**
**Total**
**activities**
**£**
80,798
3,738
2,242
14,935
20,299
27,725
41,161
58,861
8,376
573
8,469
7,003
46,002
320,182
**2022**
**Total**
**activities**
**£**
9,000
12,386
21,386| |---|---|---| ## **8. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |Auditors' remuneration|9,180|9,000| |Depreciation - owned assets|45,395|46,002| ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. The total amount of employee benefits received by key management personnel is £221,128 (2022: £281,170). The key personnel of the Trust comprises of the Head, Senior Deputy, Head of Junior and the Bursar. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. Page 18 continued... **Hollygirt School** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **10. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable activities|**2023**
**£**
1,614,771
144,786
180,577
1,940,134
**2023**
67|**2022**
**£**
1,466,575
129,655
162,226| |---|---|---| |||1,758,456| |||**2022**
64| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |||**2023**|**2022**| |---|---|---|---| |£70,001|- £80,000|1|1| The average full time equivalent employees during the year was 52 (2022: 48). ## **11. COMPANY LIMITED BY GUARANTEE** Hollygirt School is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member. ## **12. TANGIBLE FIXED ASSETS** |**COST**
At 1 September 2022
Additions
At 31 August 2023
**DEPRECIATION**
At 1 September 2022
Charge for year
At 31 August 2023
**NET BOOK VALUE**
At 31 August 2023
At 31 August 2022|**Freehold**
**property**
**£**
1,202,173
127,721
1,329,894
216,781
32,553
249,334
1,080,560
985,392|**Fixtures**
**and**
**fittings**
**£**
253,914
24,477
278,391
189,531
10,900
200,431
77,960
64,383|**Motor**
**vehicles**
**£**
3,400
-
3,400
3,400
-
3,400
-
-|**Computer**
**equipment**
**£**
217,985
1,689
219,674
210,902
1,942
212,844
6,830
7,083|**Totals**
**£**
1,677,472
153,887| |---|---|---|---|---|---| ||||||1,831,359| ||||||620,614
45,395| ||||||666,009| ||||||1,165,350| ||||||1,056,858| Page 19 continued... **Hollygirt School** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** |**13.**
**STOCKS**
**2023**
**£**
Finished goods
12,064
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2023**
**£**
Trade debtors
768,184
Bad debt provision
(52,023)
Other debtors
750
Prepayments
108,551
825,462
**15.**
**CASH AT BANK AND IN HAND**
**2023**
**Total**
**funds**
**£**
Cash in hand
3,241
Bank current account
841,289
Total
844,530
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2023**
**£**
Trade creditors
45,599
Social security and other taxes
34,592
Other creditors
143,801
Accrued expenses
924,023
1,148,015
**17.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
**2023**
**£**
Within one year
7,812
Between one and five years
13,671
21,483
**18.**
**MOVEMENT IN FUNDS**
**Net**
**movement**
**At 1.9.22**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
1,588,606
110,785
**TOTAL FUNDS**
1,588,606
110,785||| |---|---|---| |||| |||| |||| |||| |||| Page 20 continued... **Hollygirt School** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **18. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
2,701,067
2,701,067|**Resources**
**expended**
**£**
(2,590,282)
(2,590,282)|**Movement**
**in funds**
**£**
110,785
110,785| |---|---|---|---| ## **Comparatives for movement in funds** |||**Net**|| |---|---|---|---| |||**movement**|**At**| ||**At 1.9.21**|**in funds**|**31.8.22**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|1,575,756|12,850|1,588,606| |**TOTAL FUNDS**|1,575,756|12,850|1,588,606| |Comparative net movement in funds, included in the above are as follows:|||| ||**Incoming**|**Resources**|**Movement**| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|2,243,297|(2,230,447)|12,850| |**TOTAL FUNDS**|2,243,297|(2,230,447)|12,850| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1.9.21**
**£**
1,575,756
1,575,756|**Net**
**movement**
**in funds**
**£**
123,635
123,635|**At**
**31.8.23**
**£**
1,699,391| |---|---|---|---| ||||1,699,391| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|4,944,364|(4,820,729)|123,635| |**TOTAL FUNDS**|4,944,364|(4,820,729)|123,635| Page 21 continued... **Hollygirt School** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **19. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 August 2023. Page 22 ## **Hollygirt School** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Friends of Hollygirt
Donations
**Investment income**
Bank interest receivable
**Charitable activities**
Tuition fees
Cost of bursaries
Other income from school activities
Catering income - Welfare
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
School supplies and technology
Canteen purchases
Sports facilities
Staff training
Music scholarship
Provisions
Cost of other school activities
Bad debts
Inspection costs
Friends of Hollygirt
**Support costs**
**Management**
Wages
Social security
Pensions
Postage and stationery
Promotion and marketing
Sundries
Accountancy charges
**School activities**
Wages
Social security
Pensions
Rates and water
Carried forward|**2023**
**£**
6,823
7,000
13,823
110
2,639,501
(99,459)
81,444
65,648
2,687,134
2,701,067
1,319,907
122,962
172,999
55,657
51,926
38,340
3,874
1,740
6,740
60,866
-
3,779
6,823
1,845,613
205,139
17,260
5,100
9,083
15,810
15,439
13,701
281,532
89,725
4,564
2,478
14,770
111,537|**2022**
**£**
6,127
-
6,127
101
2,211,014
(83,417)
54,257
55,215
2,237,069
2,243,297
1,188,165
108,859
155,085
45,930
31,795
33,641
10,103
3,080
2,312
48,271
(558)
2,349
6,127
1,635,159
197,612
17,058
4,899
41
16,106
10,094
7,910
253,720
80,798
3,738
2,242
14,935
101,713| |---|---|---| This page does not form part of the statutory financial statements Page 23 ## **Hollygirt School** ## **Detailed Statement of Financial Activities** |**School activities**
Brought forward
Insurance
Light and heat
Telephone
Repairs and maintenance
Cleaning
Motor vehicle expenses
Other professional
Prize-giving
Freehold property
Fixtures and fittings
Computer equipment
**Governance costs**
Auditors' remuneration
Professional fees
Total resources expended
**Net income**|**for the Year Ended 31 August 2023**|**2023**
**£**
111,537
23,321
45,299
70,494
91,404
8,601
5,636
12,325
7,049
32,554
10,900
1,942
421,062
9,180
32,895
42,075
2,590,282
110,785|**2022**
**£**
101,713
20,299
27,725
41,161
58,861
8,376
573
8,469
7,003
32,442
6,560
7,000| |---|---|---|---| ||||320,182
9,000
12,386| ||||21,386| ||||2,230,447| ||||12,850| This page does not form part of the statutory financial statements Page 24