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2024-08-31-accounts

Charity number: 1186756

DEVON SCHOOLS LEADERSHIP SERVICES CIO

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

DEVON SCHOOLS LEADERSHIP SERVICES CIO

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 10
Independent examiner's report 11 - 12
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15 - 32

DEVON SCHOOLS LEADERSHIP SERVICES CIO

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024

Trustees K Hughes
R Coles (appointed 3 October 2023)
T Briant-Evans (re-appointed 20 March 2024)
G Myles
J Bishop, Chair (re-appointed 20 March 2024)
M Shanks (re-appointed 20 March 2024)
I Johnson
D Morrow
M Bowler (appointed 29 November 2023)
J Hunter (appointed 29 November 2023)
Charity registered
number
1186756
Principal office
Monkerton Community Primary School
Sestertius Road
Monkerton
Exeter
Devon
EX1 3WS
Key management
personnel
C Coates (Business & Operations Manager)
Accountants
Griffin
Chartered Accountants
Courtenay House
Pynes Hill
Exeter
EX2 5AZ

Page 1

DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Trustees present their annual report together with the financial statements of the Charity for the year ended 31 August 2024.

Objectives and activities

a. Policies and objectives

The objectives of the Charity are:

"To advance education, for the public benefit, by supporting teaching and learning, leadership and community engagement in schools throughout Devon and South West England. Specifically, to be met through the provision of relevant training and development to ensure schools have the most effective leadership, pedagogy and support in place for the benefit of children, young people, and families."

These objectives are broken down into the following motivating drivers:

b. Strategies for achieving objectives

The key aim of DSLS is to provide support to school leaders across the South West. This, in turn, delivers benefits to all stakeholders of the school, in particular the school's pupils and their families.

In setting our objectives and planning our activities DSLS trustees have given careful consideration to the Charity Commission’s public benefit guidance.

The main strategies for achieving the Charity's Objectives are:

Page 2

DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

Specifically, DSLS fulfilled its objectives by:

d. Main activities undertaken to further the Charity's purposes for the public benefit

Devon Schools Leadership Services CIO is a professional body representing a membership of school leaders from within c.351 Devon schools, academies and trusts. Members are responsible for the education of just under 100,000 children and young people across the early years, primary, secondary & further education phases within the local authority. The organisation speaks on behalf of its members and acts on behalf of children and young people by:

Page 3

DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Objectives and activities (continued)

The 12 months ended 31 August 2024 was the third trading year for DSLS since its inception in 2019. The main focus of activities continues to be supporting and equipping school leaders with strategies and resources to mitigate the ongoing legacy of Covid 19 in terms of attendance, challenging behaviour and the mental health and wellbeing of pupils which are all contributing to the escalation in persistent absence, exclusions and elective home education. This is on top of the social and economic upheaval since the pandemic which has resulted in many more families struggling and schools having to meet increased levels of pupil need. School leaders have been supported in their day to day roles through regular communications but also termly face to face briefing events with the benefit of shared and collaborated approach.

More and more schools are expected to do more in terms of extending levels of support for the most vulnerable, whilst budgets are shrinking in real terms owing to the impact of inflation, energy costs or unfunded pay rises and employment liabilities. With an inequitable National Funding Formula resulting in a poorer funding settlement for Devon schools compared with other elsewhere, is creating an extremely challenging time for education and DSLS exists to support leaders, representing the schools’ voice at both strategic and operational levels. The Charity achieves this by acting as a conduit between Devon schools and the Department for Education, the Local Authority, and other education agencies , providing timely guidance and clarity to support school leaders.

Achievements and performance

a. Main achievements of the Charity

During 2023/24, DSLS continued to service the DCC Commissioned Services Agreement by regularly attending meetings of various strategic boards and working groups via face-to-face meetings and in some cases, blended or virtual options.

Two-way communication between schools and the various groups is achieved by way of cascading information and guidance to the wider education community on any issues or actions arising for schools. On occasions, this may necessitate consultation on behalf of the local authority or DfE Regions Group, for example, surveying school leaders on the local funding formula, locally commissioned providers of Alternative Provision etc.

DSLS holds regular meetings with DCC to agree joint priorities for both Devon schools and the local authority and to ensure that these are reflected in the Commissioned Services Agreement. For 2023/24 the main focus has been the continued support of the ongoing improvement work in both DCC Children’s Services and the SEND Local Area Offer. Linked to this is the scrutiny of the escalating overspend in the High Needs Block and how this can be redressed through changes in practice and culture, but not at the expense of inclusion.

In March 2024, DSLS representatives worked closely with senior DCC officers to secure the Devon SEND Safety Valve Programme which will see an extra £95 million of national funds set aside to reduce the deficit on special needs education. This is an agreement between Devon County Council and the Department for Education to address a large deficit in funding for Special Educational Needs and Disabilities (SEND). The agreement aims to reduce the cumulative deficit to zero by 2032. In exchange for financial support, Devon has committed to improving inclusive capacity in mainstream schools and improving data use. Monitoring progress against the Management Actions Plan within the Safety Valve Agreement alongside the SEND Transformation Programme and holding all partners in the locality to account will be a key focus for the strategic board on which schools are represented through DSLS.

Performance under the Commissioned Services Agreement is reviewed regularly to determine the effectiveness of this partnership working and the contribution of DSLS towards achieving targeted outcomes in terms of school leader attendance at meetings, effectiveness of representation, and subsequent information sharing.

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DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance (continued)

Throughout the year, DSLS hosted regular face-to-face Briefing Events for school leaders each term. These events continue to be welcomed by school leaders and are well attended, providing the opportunity to hear key updates from the Local Authority, Department for Education (DfE) Regions Group and Ofsted as well as external speakers presenting on topical issues relevant to the education community and schools.

At the Autumn 2023 event, delegates heard updates from senior leaders in the DCC Education team and representatives from ; from Essex County Council to demonstrate locality working as a potential model for a redesign of Devon’s Children’s Services, updates from South West DfE Regional Director, Ofsted and a practitioner from NHS Devon raising awareness of “Asthma Friendly Schools”.

In Spring 2024, school leaders received a number of updates from other agencies including Public Health to familiarise leaders on Devon Schools Wellbeing Partnership and PSHE Association membership offer, updates on the increased incidences and risks associated with Measles as well as wider health protection, disordered eating, free CPR and defibrillator training for school staff provided by a local charity, Jay’s Aim. Jim Roberson, Discipline Coach, author and speaker gave a keynote which advocated the partnership between children and school. “The school commits to teach children everything they need to succeed in and beyond school, no matter what career choices they make. In return, children commit to doing ‘what needs to be done, when it needs to be done, the way it needs to be done”.

Like many other authorities, Devon has a growing number of children and young people in its mainstream schools with special educational needs including social, emotional, medical and mental health difficulties. These children and young people are the most likely to be excluded, become school refusers, achieve poor outcomes and struggle in our mainstream education system. Promoting inclusion within schools and retaining as many of our children and young people with additional needs in mainstream settings is an ongoing priority for Devon schools as the local authority develops its own SEND strategies. With this in mind, the summer leadership briefing once again included local and national speakers to present on inclusivity and working differently to create Alternative Provision solutions in school settings which included the presentation of Social, Emotional, and Mental Health (SEMH) case studies demonstrating positive impact for KS3 & KS4 pupils in a North Devon college. Continuing on this theme Joe Sparks, former CEO, now coach, speaker and leadership thinker inspired leaders with his “Outlier Five” presentation. Encouraging leaders to think differently, he set a challenge to delegates around brave leadership asking, “What do you want to be different?” “What do you want? What is the reality? What are your options? What will you do?”

During each Briefing event there is time for professional dialogue, networking and the sharing of good practice. Delegates are requested to evaluate the impact and relevance of the Briefing programmes in relation to their school leadership roles and are invited to suggest topics for future content where additional information or support may be useful. This feedback is then reviewed, alongside any other key education messages, and is used to plan and shape the agenda at subsequent events.

The DSLS aHead service, a confidential professional support service which is valued by school leaders, is now well established with 67% of Devon school leaders engaged in regular dialogue with their designated Professional Partner. Of the remaining school leaders, approximately one third are aware of the availability of the aHead service but feel that either they do not require support at this point in time or some may have access to alternative mentoring or coaching programmes, perhaps via their trust.

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DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance (continued)

The turnover of school leadership posts remains high with 84 changes to leadership posts seen in 2023/24 versus 99 in 2022/23. Vacancies may arise due to retirement, but it is increasingly common to see school leaders leaving the profession to pursue other opportunities at a younger age due to factors such as workload, mental health, accountability stakes and inadequate school funding. Whilst recruitment and retention across all roles within schools is an ongoing concern, these financial pressures are often forcing restructures or academisation resulting in fewer leadership posts being advertised. Of the new appointments, around 56 were new to a school leadership role and were allocated a named Professional Partner and offered support under aHeadStart which is the two year induction strand of the service. This included an Induction event run alongside Devon County Council local officers who outlined various statutory functions and core services whilst the aHeadStart session provided information on the support available from DSLS and their aHead Professional Partner.

The mental health and wellbeing of school leaders and their staff has also been reinforced by the availability of the Education Support Employee Assistance (EAP) Scheme. All DSLS school leaders can subscribe to this service which complements the work of the Professional Partners by providing out of hours access to a confidential information, support, and a counselling service available 24 hours a day, 365 days a year. DSLS is committed to the personal and professional welfare of its school leaders and to ensuring that no school leader ever feels isolated or unsupported. This is to protect the mental health and wellbeing of individuals, but also to prevent school leaders being absent from school due to ill health or ultimately feeling unable to continue in the profession with the resultant loss of highly invested experience and knowledge.

DSLS was delighted to be able to host its popular Annual School Leadership Conference at Saunton Sands in October 2023. Once again, a group of 125 headteachers and leadership teams attended this two day residential event which offered a programme of national keynote speakers including Joe Sparks presenting on Who you are and what you do as an individual leader; Steph Ainsworth on “Context matters: a social-ecological approach to teacher resilience”: Dr Pooky Knightsmith on “The Mentally Healthy School: A Framework for Change”; Will Njobvu on The importance of diversity in education and concluding with Dave Keeling “Make’Em Laugh Make’Em Think - The Power of Laughter and Humour to help us thrive not survive”. Completed evaluation forms provided feedback from that delegates found the speaker programme to be thought provoking, inspirational, motivational and a great opportunity to take new ideas back to school. The ability to take dedicated leadership time for strategic planning and personal CPD is a valued aspect of the conference as well as networking with other colleagues.

b. Future plans

Following the appointment of 3 new trustees during the year the Board has benefitted from a period of stability and an excellent breadth of skills and knowledge. The Board has commenced its strategic review and has identified a new structure which will help to better support the charitable objectives and priorities for Devon schools. The revised business model will be developed further working in partnership with DCC to identify join priorities for focussed project work in key areas such as inclusion, attendance and reducing exclusions, The Schools Executive Committee is the operational delivery group for DSLS responsible primarily for the fulfilment of the DCC Commissioned Services Agreement and reporting to the Board of Trustees. Under the new structure, this will be renamed as the Schools Leadership Group and members will hold portfolio responsibilities aligned to each business area with a strong emphasis on evidencing the impact of these workstreams.

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DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance (continued)

The future funding of the Charity is still very much reliant on schools supporting the top slice arrangement which is voted on annually. This makes forward financial planning difficult and there are many associated risks for schools, the local authority and other stakeholders should the service become unsustainable in the absence of the current funding model. The Board of Trustees are also mindful of the Charity’s employment liabilities and future contractual obligations such as office accommodation. The option of a subscription model is not considered to be viable unless all schools are subscribed nor is it the optimal in terms representing a single representative voice for all Devon schools. The 3-year Strategic Plan will therefore aim to consolidate and build on what currently works well, demonstrate the value of DSLS for all Devon schools irrespective of sector or governance. This will also still include securing agreements with strategic partners, sponsors and trusted suppliers, increasing engagement levels with the existing DSLS school leaders, expanding the offer to an Associate subscription to nonDevon schools and developing further the programme of conference and events. Additionally, the further development of other support packages for school leaders via the aHead Service e.g. the Appraisal and Performance Management model, with plans for a middle leader development programme, peer reviews and coaching models.

c. Investment policy and performance

The Charity does not currently have any fixed asset investments.

Cash balance reserves are held in bank savings accounts split between a 35 day notice Liquidity Manager account and an instant access Business Reserve account.

The instant access Business Reserve account contains funds which need to be readily available. This includes funds designated as provisions for redundancy and a pension bond should the latter be required to support the renewal of the LGPS Admissions Agreement.

Under the Financial Services Compensation Scheme (FSCS), a charity’s eligible deposits with banks, building societies and credit unions that are authorised by the Prudential Regulation Authority (PRA) are protected up to £85,000 per authorised institution. This means that how a charity spreads its money can affect the amount of compensation the charity is entitled to as all the charity’s accounts held with the failed bank or banking group would be aggregated and only protected up to £85,000 in total.

During the year, the opening of two new savings accounts with different banks authorised by the PRA has helped to mitigate any potential risk of loss and resulted in a better return in terms of bank interest received.

Financial review

a. Going concern

After making appropriate enquires, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 7

DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

b. Reserves policy

DSLS presently holds total funds of £317,535 comprising £146,818 of unrestricted reserves and £170,682 of restricted funds.

The Board of Trustees have duly considered its Reserves Policy and has designated the following funds from within unrestricted funds for the following purposes:

Defined Benefits Pension Scheme – £65,000

On 1 June 2021, two members of DCC staff transferred to DSLS under TUPE regulations which included membership of the Local Government Pension Scheme. The charity was granted Admitted Body Status to the pension scheme supported by a 3year guarantee given by DCC, in lieu of a bond surety which had originally been calculated as £69,000 by Actuaries Barnett Waddingham. One member of staff resigned in July 2021 and their membership of the scheme is currently deferred. Following the expiry of the DCC guarantee, DSLS is now expected to provide alternative security to cover this liability which has been reassessed by the actuary at £65,000 and reserves have been set aside and designated for this purpose which will in due course be lodged under a joint Escrow Agreement between DSLS, DCC and agents Zedra Trust Company (UK) Ltd.

Redundancy Liability - £26,000

Following a change in employees and contracted hours, the redundancy liability has been re-calculated for the one remaining member of permanent staff who transferred to the charity under the terms of a TUPE transfer from DCC. This combined provision has been calculated as the liability at 31 August 2024 and is reviewed annually.

c. Finance review

During the year, the charity received total income of £286,331. Within this, bank interest of £10,314 (£3,196 in 2022/23) was received and £203,000 related to the DCC Commissioned Services Agreement (CSA) grant income and the balance of £71,017 from traded activities.

Total expenditure in the year was £227,837 of which £173,133 was against restricted funds and £54,704 unrestricted, resulting in an overall net surplus of £58,494.

The Commissioned Services Agreement with DCC is the principal source of income for the Charity.

Page 8

DEVON SCHOOLS LEADERSHIP SERVICES CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Structure, governance and management

a. Constitution

Devon Schools Leadership Services CIO is a charitable unincorporated organisation, number 1186756, governed by its constitution dated 17 October 2019. DSLS was formally launched on 1 September 2020 following the merger of the two legacy phase associations, DAPH and DASH.

Details of the Trustees who served throughout the year are included on the Reference and Administration Details on page 1.

b. Methods of appointment or election of Trustees

Trustees are recruited based on their skills knowledge and experience needed for the effective administration of the Charity.

Trustees must be appointed for a term of four years by a resolution passed at a properly convened meeting of the Charity Trustees. Except from the first Charity Trustees.

There must be at least five Charity Trustees. If the number falls below this minimum, the remaining Trustee or Trustees may act only to call a meeting of the Charity Trustees or appoint a new Charity Trustee.

The maximum number of Charity Trustees is ten. The Charity Trustees may not appoint any Charity Trustee if as a result the number of Charity Trustees would exceed the maximum.

Any person retiring as a charity trustee is eligible for reappointment.

A charity trustee who has served for three consecutive terms may not be reappointed for a fourth consecutive term but may be reappointed after an interval of at least one year.

c. Policies adopted for the induction and training of Trustees

All Trustees are fully inducted by the Charity on its aims and objectives and the role they have on the developing the Charity. The Trustees have all received the Charities’ Commission guidance on the Roles and Responsibilities of the Charity Trustees.

d. Pay policy for key management personnel

DSLS employees are offered fair pay in accordance with their skills, experience and contribution to the development of the Charity. Remuneration is reviewed annually by the Trustees of the Charity and is benched mark against similar job roles in the public sector.

e. Financial risk management

The Trustees actively and regular review any major risks that the Charity faces. This involves regularly reviews of the Charities risk register and key financial controls. Statement of Trustees' responsibilities.

Page 9

DEVON SCHOOLS LEADERSHIP SERVICES CIO TRUSTEES, REPORT (coKfiNUEDI FOR The YEAR ENDED 31 AUGUST 2024 ststement of Tru8to•8' rè8ponsibllltlo• The Trustees are resp)nslbb for prepadng the Trustee8' r0POrt and thg financlal 8lalem8nls in accordan¢e with applicable law and United Kingdom Accountlng Standards (United Kingdom G¢nerally A¢Gepled A¢counllng Practice). The law applicable lo charities in Eng18nd & Wal88 rnoulre8 tha Trust888 to prepar8 financl818ts1ements for each ftnancial whlch give 8 true and falr view of the Stale of affairs of the Charity and of rts incoming resources and application of resources, including 116 income and expenditure, for that poilod. In preparing Ihe8e fina￿la1 8talemenl8, tha Trustees are r￿UIred lo.. select $ukabl8 acwunting policies and th8n apply them conslsl@nlty,' observe tho methods and princlples of the Charities SORP IFRS 1021.. make judgments 8nd accountlng •slimales that are reasonab￿ and prudent,. Blale whether appllcable UK A¢counting StandardB {FRS 1021 have been follrywed, 8ublect to any m#lerlal departures disclosed and explained in the fSn8ncial statements: prepar8 the flnanclal stolements on the golng concorn basis unless it h Inappropria*• lo pre8um8 that the Charity w+ll continue In buslne88. Th8 Trustees •ie responsible for keeping adequate accounllng roGords that are 8ufficlent 10 8how and axp18in the Charty'$ Iran8actbns and dlsck)se wlth reasonable accuracy at any time tha flngnci81 posltion of the Charty gnd enable them to ensure that the finoncial statemnts comply with th8 Charit￿8 Acl 2011. the Charity (Accounts and Report81 Regulations 2008 and the provisions of the Trust deed. Th&y are also r88ponslble for 8Bfe9uardSng the a8881$ of the Charity and hence for taking rèa80nable slep8 for the prov•nlion and delectK)n of fraud and other irrogularilles, Approved by order ol th8 mombors of the board and slgned on thèlr boh8Ff by.. Tru8la&8 on J BFghop Chair of Trusleo G Ntyle5 Finance Audit ruslee Page 10

DEVON SCHOOLS LEADERSHIP SERVICES CIO

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Independent examiner's report to the Trustees of Devon Schools Leadership Services CIO ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 11

DEVON SCHOOLS LEAOERSHIP SERVICES CIO INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 This report is made solely lo the Charity's Trustees, 88 8 body, in accordance with Part 4 of the Charities (Accounts 8nd Reports) Regulations 2008. My work has been undertaken so that I might slate to the Charity's Trustees those mallèrs l am required lo slate to them in an Independent examiner's report and for no other purpose. To the fullest extent permltted bylow, I do not accgpt oi assume responsiblllly lo anyone other than the Chority and the Charity's Trusl&es as a body, for my work or for this report. Signed.. Laura Waywtt FCA Griffin Charter&d Accounlanls Courtenay House Pynes Hill Exeter EX2 5AZ Pag8 12

DEVON SCHOOLS LEADERSHIP SERVICES CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Note
Income from:
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Actuarial (losses)/gains on defined
benefit pension schemes
16
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
203,000
2,000
205,000
171,683
171,683
33,317
-
33,317
143,815
33,317
177,132		 Unrestricted
funds
2024
£
69,567
10,314
79,881
54,704
54,704
25,177
(5,000)
20,177
120,226
20,177
140,403		 Total
funds
2024
£
272,567
12,314
284,881
226,387
226,387
58,494
(5,000)
53,494
264,041
53,494
317,535		 Total
funds
2023
£
277,260
3,196
280,456
260,034
260,034
20,422
16,000
36,422
227,619
36,422
264,041

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 32 form part of these financial statements.

Page 13

DVrfON SCHOOLS LEADERSHIP SERVICES CIO BALANCE SHEET AS AT31 AUGUST2024 2024 2023 Note Current assets D8btors Invèstments Ca8h at bank and in hand 11 12 26,835 313,458 46.927 5,086 100,663 258. 721 387,220 364,470 Credllors.. amounts falling due withln one year 13 169.6851 {100,429) Net current assets 317,538 264,041 Total assets less current Ilabllltl6$ 317,S36 264,04t Net a8s8ts excludlng ponslon a880t 317,536 264,041 Total not assets 317,53S 264,041 Charlty funds Raslricted funds Unreslriclod funds 14 14 172.132 145,403 143,815 120,226 Totsl funds 317,535 264,041 The flnancial statement8 were approved and authorisad for issue by the Trustsès on and 8igned on Ihalr behglf by.. J Bishop Chair of Truste88 G Myles Finance Audit Trustee The notes on pages 15 to 32 form part of these financial slalements. Page 14

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. General information

Devon Schools Leadership Services CIO is a Charitable Incorporated Organisation registered in England & Wales. Its registered office address is Monkerton Community Primary School, Sestertius Road, Monkerton, Exeter, Devon, EX1 3WS.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Devon Schools Leadership Services CIO 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 stated in the relevant accounting policy.

2.2 Going concern

The Trustees have considered the financial position of the Charity for a period of at least 12 months from the date of signing the accounts, including factoring the year end reserves position and post year end income and expenditure, and expect the Charity to continue as a going concern and have prepared the accounts on this basis.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 15

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. 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 total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute 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 charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

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 Investments

Current asset investments are those which are held for resale or pending their sale and cash on deposit with a maturity date of less than one year held for short-term investment purposes rather than cashflow.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle 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-tax discount 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 16

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. Accounting policies (continued)

2.10 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 transaction 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.

2.11 Pensions

The Charity operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

The Charity also operates a defined benefits pension scheme, and the pension charge is based on a full actuarial valuation dated 31 March 2022.

2.12 Fund accounting

General funds are unrestricted funds 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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 17

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning 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 carrying amounts of assets and liabilities within the next financial year are discussed below.

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 16, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 August 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

4. Income from charitable activities

Grant Income
Other income
Grant Income
Other income		 Restricted
funds
2024
£
203,000
-
203,000
Restricted
funds
2023
£
216,415
-
216,415		 Unrestricted
funds
2024
£
-
69,567
69,567
Unrestricted
funds
2023
£
-
60,845
60,845		 Unrestricted
funds
2024
£
-
69,567
69,567
Unrestricted
funds
2023
£
-
60,845
60,845		 Total
funds
2024
£
203,000
69,567
272,567
Unrestricted
funds
2023
£
-
60,845
60,845		 Total
funds
2023
£
216,415
60,845
277,260

Page 18

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

5. Investment income

Interest on deposits
Pension income
Interest on deposits		 Restricted
funds
2024
£
-
2,000
2,000		 Unrestricted
funds
2024
£
10,314
-
10,314
Unrestricted
funds
2023
£
3,196		 Total
funds
2024
£
10,314
2,000
12,314
Total
funds
2023
£
3,196

Page 19

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

6. Analysis of expenditure on charitable activities

Summary by fund type

Support costs
Support costs
7.
Analysis of expenditure by activities
Support costs
Support costs		 Restricted
funds
2024
£
171,683
Restricted
funds
2023
£
187,948		 Unrestricted
funds
2024
£
54,704
Unrestricted
funds
2023
£
72,086
Support
costs
2024
£
226,387
Support
costs
2023
£
260,034		 Total
2024
£
226,387
Total
2023
£
260,034
Total
funds
2024
£
226,387
Total
funds
2023
£
260,034

Page 20

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
General expenses
Venue costs
Rent
Insurance
Speaker fees
IT costs
SLA reimbursements
Legal and professional
Audit and accountancy
Printing and stationery
Subscriptions
Bank charge
Event AV Support		 Activities
2024
£
71,002
2,395
35,882
7,300
817
10,466
295
87,348
(625)
3,266
3,098
1,788
128
3,227
226,387		 Total
funds
2024
£
71,002
2,395
35,882
7,300
817
10,466
295
87,348
(625)
3,266
3,098
1,788
128
3,227
226,387

Page 21

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

7. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Staff costs
General expenses
Venue costs
Rent
Insurance
Speaker fees
IT costs
SLA reimbursements
Legal and professional
Audit and accountancy
Printing and stationery
Subscriptions
Bank charge
Event AV Support		 Activities
2023
£
92,357
2,154
30,740
7,300
312
20,694
428
87,694
6,000
2,887
3,117
3,094
84
3,173
260,034		 Total
funds
2023
£
92,357
2,154
30,740
7,300
312
20,694
428
87,694
6,000
2,887
3,117
3,094
84
3,173
260,034

8. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £1,825 ( 2023 - £1,750 ).

Page 22

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

9. Staff costs

Wages and salaries
Social security costs
Pension costs		 2024
£
71,373
(9,939)
9,568
71,002		 2023
£
73,453
6,474
12,430
92,357

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 3 3

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the Charity is the Business & Operations Manager. The total employee benefits, including employer pension contributions, of the key management personnel of the Charity is £60,793 (2023: £54,578).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 August 2024, expenses totalling £ NIL were reimbursed or paid directly to Trustee (2023 - £NIL ).

11. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
180
17,561
9,094
26,835		 2023
£
900
-
4,186
5,086

Page 23

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

12. Current asset investments

2024 2023
£ £
Cash on deposit 313,458 100,663

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 September 2023
Resources deferred during the year
Amounts released from previous periods		 2024
£
5,659
-
70
63,956
69,685
2024
£
51,601
51,951
(51,601)
51,951		 2023
£
5,249
26,714
70
68,396
100,429
2023
£
56,500
51,601
(56,500)
51,601

At the balance sheet date the Charity was holding funds received in advance of £50,751 from the Devon County Council Commissioned Service Agreement, £600 from Wave Multi Academy Trust for the annual DSLS leadership conference, and £600 from LAP South West for the annual DSLS leadership conference.

Page 24

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

14. Statement of funds

Statement of funds - current year

Balance at 1
September
2023
£
Designated
funds
Pension Bond
70,000
Redundancy
Provision
30,000
100,000
General funds
Other Income
14,694
Devon County
Council
1,728
Bank Interest
3,804
20,226
Total
Unrestricted
funds
120,226
Restricted
funds
Devon County
Council
143,815
Pension
reserve
-
143,815
Total of funds
264,041		 Income
£
-
-
-
69,567
-
10,314
79,881
79,881
203,000
2,000
205,000
284,881		 Expenditure
£
-
-
-
(54,198)
(506)
-
(54,704)
(54,704)
(174,683)
3,000
(171,683)
(226,387)		 Transfers
in/out
£
(5,000)
(4,000)
(9,000)
9,000
-
-
9,000
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
(5,000)
(5,000)
(5,000)		 Balance at
31 August
2024
£
65,000
26,000
91,000
39,063
1,222
14,118
54,403
145,403
172,132
-
172,132
317,535

Page 25

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

14. Statement of funds (continued)

The specific purposes for which the funds are to be applied are as follows:

Devon County Council

£203,000 received in year to be spent in line with the Commissioned Service Agreement.

Pension Reserve

The charity's share of the assets and liabilities in the Local Government Pension Scheme. This is currently made Nil due to an excess of scheme assets over scheme liability which was inherited on conversion from the local authority.

Designated Funds

The Trustees have designated £91,000 which has been split between £26,000 for a redundancy provision and £65,000 in relation to a proposed Escrow Agreement in lieu of a Pension Bond, with the transfer of £9,000 between the designated and unrestricted funds.

Page 26

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Pension Bond
Redundancy
Provision
General funds
Other Income
Devon County
Council
Bank Interest
Total
Unrestricted
funds
Restricted
funds
Devon County
Council
Pension
reserve
Total of funds		 Balance at
1 September
2022
£
-
24,500
24,500
99,603
3,560
608
103,771
128,271
115,348
(16,000)
99,348
227,619		 Income
£
-
-
-
60,845
-
3,196
64,041
64,041
216,415
-
216,415
280,456		 Expenditure
£
-
-
-
(70,254)
(1,832)
-
(72,086)
(72,086)
(187,948)
-
(187,948)
(260,034)		 Transfers
in/out
£
70,000
5,500
75,500
(75,500)
-
-
(75,500)
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
16,000
16,000
16,000		 Balance at
31 August
2023
£
70,000
30,000
100,000
14,694
1,728
3,804
20,226
120,226
143,815
-
143,815
264,041

Page 27

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

15. Analysis of net assets between funds

Current assets
Creditors due within one year
Total		 Restricted
funds
2024
£
222,883
(50,751)
172,132		 Unrestricted
funds
2024
£
164,337
(18,934)
145,403		 Total
funds
2024
£
387,220
(69,685)
317,535

Analysis of net assets between funds - prior period

Current assets
Creditors due within one year
Total		 Restricted
funds
2023
£
143,815
-
143,815		 Unrestricted
funds
2023
£
220,655
(100,429)
120,226		 Total
funds
2023
£
364,470
(100,429)
264,041

16. Pension commitments

The Charity operates a defined benefit pension scheme.

The Charity employees belong to the Local Government Pension Scheme (LGPS) for non-teaching staff, which is managed by Devon County Council. This is a multi-employer defined benefit scheme.

The latest actuarial valuation of the LGPS related to the period ended 31 August 2024.

There were no outstanding contributions payable to the scheme at the end of the financial year.

The LGPS is a funded defined benefit pension scheme, with the assets held in separate trusteeadministered funds. The total contribution made for the year ended 31 August 2024 was £16,130 (2023: £15,068), of which employer's contributions totalled £12,568 (2023: £12,072) and employees' contributions totalled £3,562 (2023: £2,996). As a closed scheme, not open to new employees, the agreed contribution rates for fiscal years 2024/25, 2025/26 and 2026/27 are 26.4 per cent for the employer. The agreed contribution rate for employees for the 2024/25 and 2025/26 fiscal years is between 5.5 - 12.5 per cent banded according to annual salary.

Devon County Council (DCC) previously acted as a guarantor to the defined pension benefit liability under an Admissions Agreement between DSLS and DCC in its capacity as Administering Authority and Scheme Employer for the LGPS in relation to staff who have transferred to the Charity under a TUPE transfer. The DCC Guarantee took effect on 1 June 2021 and ceased on 31 May 2024.

Page 28

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

16. Pension commitments (continued)

In lieu of a replacement Pension Bond, the Charity is presently arranging for cash balances of £65,000 (as determined by the latest actuarial valuation) to be deposited by way of a joint Escrow Agreement between DSLS, DCC and agents Zedra Trust Company (UK) Ltd as ongoing surety to support the LGPS Admissions Agreement.

The actuary has valued the LGPS pension position as an overall asset of £209,000 at 31 August 2024. However, this asset has not been recognised on the balance sheet of the charity. Instead the year end position has been capped at £Nil. The charity is pooled within its respective Local Government Pension Schemes and a refund from the scheme is considered unlikely. Therefore, as the charity will not gain any future economic benefits as a result of the asset position, it is not considered appropriate to recognise this as an asset on the balance sheet.

Principal actuarial assumptions

At 31
August At 31 August
2024 2023
% %
Rate of increase in salaries 3.85 3.90
Rate of increase for pensions in payment/inflation 2.85 2.90
Discount rate for scheme liabilities 5.05 5.30
Inflation assumption (CPI) 2.85 2.90
At 31
August At 31 August
2024 2023
Years Years
Retiring today
Males 21.4 21.4
Females 22.7 22.6
Retiring in 20 years Males 22.7 22.7
Retiring in 20 years Females 24.1 24.0

Page 29

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

16. Pension commitments (continued)

Sensitivity analysis

At 31
August At 31 August
2024 2023
£ £
Discount rate +0.1% (3,000) (3,000)
Discount rate -0.1% 3,000 3,000
Mortality assumption - 1 year increase 5,000 4,000
Mortality assumption - 1 year decrease (5,000) (4,000)
CPI rate +0.1% 3,000 3,000
CPI rate -0.1% (3,000) (3,000)

The Charity's share of the assets in the scheme was:

Equities
Corporate bonds
Property
Cash and other liquid assets
Other
Total fair value of assets		 At 31
August
2024
£
114,000
48,000
15,000
5,000
27,000
209,000		 At 31 August
2023
£
93,000
37,000
14,000
2,000
26,000
172,000

The actual return on scheme assets was £22,000 (2023 - £4,000) .

The amounts recognised in the Statement of financial activities are as follows:

Current service cost
Interest income
Interest cost
Total amount recognised in the Statement of financial activities		 2024
£
9,000
(10,000)
8,000
7,000		 2023
£
12,000
(7,000)
7,000
12,000

Page 30

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

16. Pension commitments (continued)

Movements in the present value of the defined benefit obligation were as follows:

Opening defined benefit obligation
Interest cost
Contributions by scheme participants
Actuarial losses/(gains)
Current service cost
Closing defined benefit obligation		 2024
£
172,000
8,000
3,000
17,000
9,000
209,000

Movements in the fair value of the Charity's share of scheme assets were as follows:

Opening fair value of scheme assets
Expected return on assets
Actuarial gains/(losses)
Contributions by employer
Contributions by scheme participants
Closing fair value of scheme assets		 2024
£
172,000
10,000
12,000
12,000
3,000
209,000

Page 31

DEVON SCHOOLS LEADERSHIP SERVICES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

17. Related party transactions

Mr J Bishop, Chair of Trustees, is also the CEO of the Cornerstone Academy Trust who are providing an office space to Devon Schools Leadership Services. Expenditure transactions during the year totaled £7,300 (2023: £7,300) and there was £NIL (2023: £NIL) included within creditors at the year end. Devon Schools Leadership Services also provided Leadership Conferences to Cornerstone Academy Trust, totaling £2,662 (2023: £1,944) and there was £NIL (2023: £NIL) included within debtors at the year end.

Trustee M Bowler's wife who is the headteacher at Braunton Academy provided leadership representation at meetings under a Service Level Agreement (SLA) and the school/trust was reimbursed against invoice to Devon Schools Leadership Services. Transactions during the year totaled £3,045 (2023: £3,025) and there was £NIL (2023: £1,448) included within creditors at the year end. Devon Schools Leadership Services also provided Leadership Conferences to Braunton Academy totaling £570 (2023: £60) and there was £NIL (2023: £NIL) included within debtors at the year end.

D Morrow, Trustee, is CEO & Trust leader at Dartmoor MAT provided leadership representation at meetings under a Service Level Agreement (SLA) and the school/trust was reimbursed against invoice to Devon Schools Leadership Services. Transactions during the year totaled £488 (2023: £NIL) and there was £NIL (2023: £NIL) included within creditors at the year end. Devon Schools Leadership also received income in relation to a Leadership Briefing late cancellation charge from Dartmoor MAT totaling £120 (2023: £NIL) and there was £NIL (2023: £NIL) included within debtors at the year end.

M Shanks, Trustee, is the CEO of Education South West provided professional leadership support for school leaders under a Service Level Agreement (SLA) and the school/trust was reimbursed against invoice to Devon Schools Leadership Services. Transactions during the year totaled £213 (2023: £NIL) and there was £75 (2023: £NIL) included within the creditors at the year end.

M Bowler, Trustee, is Chair of Trustees at Southmead Primary school. Devon Schools Leadership Services recieved income in relation to a Leadership Briefing no show charge within the year, totaling £60 (2023: £NIL) and there was £NIL (2023: £NIL) included within debtors at the year end.

Page 32