Charlty regIstraOn number 1193755 Company reglstratloTr numb8r 12792114 (England and Wal8s1 CHARLTON HOUSE SCHOOL LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
CHARLTON HOUSE SCHOOL LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trust¢gs Mrs D cen Mr C Holliss Or L Kowalewski Mr G Le Mai5tre Mr G Sangha Mr E Musgrave Mr S Driver Mr K Verdon Mrs L Pay (Appointed 24 October 20241 (Appointed 11 November 20241 (Appointed 13 November 20241 (Appointed 26 Novembgr 20241 Charfty number 1193755 Company number 12792114 Reglstsred offlco 55 - 57 Midanbury L8ne BitteTne Park Soulharnplon Hampshire S018 4DJ
CHARLTON HOUSE SCHOOL LIMITED CONTENTS Pag8 Trustees, report Independent examlnerfs report Statement of finanal activities Balance Sheet Not8S to th8 financial statements 10-17
CHARLTON HOUSE SCHOOL LIMITED TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their annual report and financial statements for the y8ar 8nded 31 AugL¢St 2024. The finarKial statements have been Prepared in acrdanCe with the accounting policies Set out in nots 1 to the financial slalemenls and comply with the charity's governing document, the Companies Act 2006 and 'Accounling and Reportin9 by Charities.. Statement of Recommended Pracb'ce applicable lo charities pparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeth've l January 20191. obje[¥0$ and actlvltlas The S¢hool'$ objects are Specifically restricted lo the following= To advance for the public benefit education in the United Kingdom, in particular but Wth0 prejudice lo the generalty of the foregoing by establishing. maintaining. carrying on, managing and developing a Catholic Schrx)I deslgnated as such which shall offer a broad and balanced curriculum for pupils across the age range from nursery lo 11 years old ancl shall be conduded in awordance with the principlos, Pfactices and tenets of the Catholic Church both generally and in particular in relation lo arranging f(x r8ligious education and daily acts of w015hip and to SL(PPOrt the development of the whole person., TD provide extracurriujlar activities for the wellbeing and devdopment and support of the pupils attending the School.. and The provision of facilities for recreation or other leisure lime oc(JJpalion which are ancillary to the purposes that are set out for the benefit of individuals who have need for such facilities by reason of their youth, age, infimity or disablement, fina181 hardship or social economic circumstances or for the public al large in the interests of social welfar@ and with the o'ect of improving the condition of the life of said inhabi18nls. The trustees have paid due regard lo guldance i55ued by the Charrty Commission in derAding what ath'vilies the charity should undertake. Achlevements and performance This financial year has seen the Scht)ol continue its successfijl upward trajectory in transitsoning from a through- School (the proprietor of which went into administration In 20201 into a preparatory only school {wÈih a new proprieloi 8nd Goveming Board), and the ongoing rebranding lo Charflon House Independent School. The school year 22123 began with 30 pupils and a cohort of dedlcated staff. the majority of whom were ¢rUIted in May 202110 replace those retiring and relocating al the end of 8¢aiJemic year 2020121. This team of lea¢hers, LSAS and administration staff continue to work tirelessly to recreate and maintain a caring community and family environment whilst achieving high standards that was ayS the School's unique selling point. The school year 23124 began 33 PLtpils la modest, bul still posrtive, increase of 10% on 221231 and has continued lo grow lo Icurrenuyl arca 47 pupils. This great work continued throughout the academic year 23124 and into 24125, wlh the staff-body growing by 2Q%12 retirements and 4 new slartersl tsking staff numbers up lo 15 for academic ye8r 24125 with the Governing Board and the pupil-b(Jy growng by a similar Scale. The School was being geared up lo a primary school for a potential of 105 prepar810ry pupils across its 7 years,. Year R to Year 6 Ilirniling eath class to no more than 15 pupils). In 2023124 the BoarLI agreed to Investigate, plan lor and offer a kindergarten for 3 10 4 year olds. which has proven highly successful and has added lo the Number on Roll (NORI. The School now has capacity for 128 pupils from kindergarten up lo Yr. 6.
CHARLTON HOUSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Whdsl some pupils di¢J leav8 * the end of thè 22123 sehod year. these have all been replaced by new pupils following an intense and ongoing marketing strategy lo enlarge and enrich the School family which has been key to the increase in pupil numbers for academic year 23124 into the 24125 academic year, which has witnessed NOR rise to almost 50 pupils. In total, since Sept 2023. las well as replaung outgoing pupils in Yr. 61 the School has grown by a fvrther 14 new pupils la 47% increase lo the NOR in Sept 20231. Presently. the School has a further 15 new pupils either signed up for, or expressing serious interest. in starting in September 2025 and fvrther either signed L5P or expressing serious interest for September 2026. It 1$ the School's expectation. based on current trends and traleclories, to attain 60 NOR by September 2026. Naturally, pupils have transitsoned from our Yr. 6 to $econd8ry s18 (such as King EdwaTd Vl sfjcondary School lindependenll and other high achieving maintained and independent secondary Schools) as Charf(on House has no secondary provision., for now. The fad that our pupils are being accepted by high-performing secondary Schools is a testament to the level of education and pastoral care that they recewe at Charflon House. The loss of pupils 1$ inevitable for all primary schools with no secondary department or thrnugh-school option, however speafic focus has been on continulng to attract new pupils In the Eady Years Foundation Stage IEYFSI to ensure a consistent Ihrough-flow of pupils in lower years throughout the School. Our ongoing marketing plan has worked very successfully, following extensive training of Staff and members ol the Goveming Board, work in synergy to deliver these results. The School continues to engage with an exiemal marketing agency lo maximise polenlial. Year on year, the amount of investment in marketing has increased and this has paid dSvidends. It is hoped that the year-on-year gr0h margin continues to increase, despite difficult and challenging soa¢>economic cArcurnslances laddressed below). Whllsl challenges sllll remain las they do for all independent and maintained schools at every level). the aims of 8 fijlly aligned leadership team are building a foundation on whith rt is hoped a successful school can continue lo develop and grow in order lo preserve the past ntury that a school has been present on sile. The Board and staff bodies are confident that provided the School continues on its current trajectory, this is achievable. Independgnt Schools Inspgctor4t¢ I'ISI") Inspectlon - 4 December 2024 On 4 December 2024 the School was visited by Inspectors from the ISI {and qualty assured by a monilorl for a tsvo and a half day on-site inspection. The inspection included.. Observation of lessons, some in conjunciion wth school leaders., Observation of registration periods and assemblies", Observation of extra-curricular activities.. Meetings wlh the Chair and Govemors., Meetings with the Headteacher, School-leaders, Managers aNI members of stafTr, Discussions with pupils., sits to the learning SUPPQrt area and facilities for physical education. Scrutiny of pupils, work., Scrutiny of a range of policie5, documerrtaticfi and rerdS provided by Ihg School.. and The inspection team considered the views of pupils, members of staff and parents who responded to the ISI'S pre-inspedion surveys. A full copy of thg final insp8Ction report ¢an be accessed using the following link.. htWs.'IAw.isi.neWinstilulionslsCh¢1lchaIOn-h0u5e-scho0I-9549
CHARLTON HOUSE SCHOOL LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 We are proud to report that the ISI found that the School mel all Independent School Standards with zero standards unmel. Standards relating to leadership. management & govemance", qu81ity of education, training & recreation., pupils, physical, mental health & emotional wellbeing., pupils, social and economic educatson and contributs'on to society," and finally slandaids relating to safeguarding were all mel. The summary of the ISI'S findings induded- 'Leaders aro 8ffeclivo in supporting school development through a rigorous process of sew-evalualion. They promote the school's aims effectively and make its values central to the pupils. educational joumeys. Pupils, weKarg is consislenlly championod and supported by 18aders' cle8r understsnding of pupils, individual needs." 'Govemors support and challenge leaders in the development of their strategic goals and in the implemenlalion of the school improvement plan. Governors follow a syslemalic approath to ensuring that the standards are mel. They regularfy visl the school to evaluate whether policy is consistentty reflected in practice. Governors, regular discussion with pupils and parents enae them to gain a detailed understsrHJing of the strengths of the edLallOn provided and areas for further ¢Jevelopment.' "Pupils. induding those who have specAal educational needs andlor disabilities (SEND), make good progress due lo the effective implementstion of the broad and baland curriculum that is followed throughout the school. Gaps in pupils, knowledge, skills and understanding are swrflly identified and addressed as a result of regular and effective assessment.. "Rigorous and effective tea(thing engages pupi15' interest and contrlbute5 towards their good progress and positive outcomes. Pupils benefit from teacheTS' expertise and enthusiasm for Ih&r subjects. Teachers, highly individuallsed knovAedge of pupils helps to meet their needs effectively." 'PU+S enjoy high levels of emots'onal wellbeing due lo the effective implemenlalion of the school's 'heart value5'. Leaders, managers. staff and parents work effectively ttyjether lo promote the pupils. welfare, Pupils, personal devdopmenl is placed al the heart ol school li18. Diversty and differencè are both spected and celebrated wthin the school community. Pupils feel happy and secure at the school. Pupils. parents and staff regularly liken being at the school to being part of a large and loving family.. "Pupils are well prepared for their next steps in education. They develop an appropriate understanding of life in British society and the organisations and individuals that contribute towards it. They undertake roles of Tesponsibility at sthool and engage in activities lo support the wider community." 'Risks lo pupils, welfare are robustly mitigated. Leaders, Governors and staff keep up to date with current safeguarding and health & safety guidance. Leaders oversee the rigorous implementation of policie$. Recruitment processes are carefijlly managed and all the necessary checks are completed before anyone is allowed lo work at. or wth. the SCI1.° The recent ex1remely positive ISI report replaces the previous OFSTED grading of 'inadequale' inherited when r opening the school in 2020 and more accurately reflects both the progress made by the School since 2020 and also the current slalus of the School in terms of its offering lo pupils. 11 is expected that this recent report wll further attract new pupils who may have been deterred by the Sehool's previous OFSTED grading.
CHARLTON HOUSE SCHOOL LIMITED TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Flnanclal rgviow The School continues lo be backed financlally by the Brothers of Christian Instruction Ilhe original founders of the originating Schoot, St. Mary's College and the fom)er Charfton House back in 19221. albeit lo a signifieanlly lesser and lesser degree. The Brothers have commrtte(l in the medium-lerm whilst the School positions itself into a sound financial fooling, to fvnd the financial shortfall and lo ntinUe to provide capital investment. A 5-year buslness plan has been presented to the Brothers of Christian Instruction, together wth extensive development and investment into parts of the carTrpus over the next 12 to 18 months, which will see the opening of an lnlemaliLal language school and residential trip accommodation for other schools and charities to utilise in due course. Being a 'not-for-profit' charitable organisation, any InMe generated over and above the ongoing overtleads is invested entirely into resources used by the pupils. or for the pupils. The Brothers of Chrlslian Instrucllon also contribute to the ongolng maintenance, repairs and p11 investment into the School sile. of which they are the andlordlgl. Such investment this financial y8ar has included roofing repairs.. wndows bang painted throughout the si(e". intemal & external decoration., an outdoor w¢x)dlandl'Forest-School' area being developed and used by pupils., maintenance works lo the extensive woodland undertaken., electric entrance gales fixed and maintained,. investsnenl in the installation of a new n8rk and new large interadive television screens purchased,. ongoing expansion of EYFS faulities. Incomin9 resources for 23124 lotalled £555.845 during the period and total resources expgnded was £567,862, leawng the School wlh overall deficit of £12,017 as at 31 Augus12024 Ultimately the pupil numbers need lo continue to grow in order to deliver a fully self-sufficienUsustaSning school model and the School is making g¢x)d progress against its target, despite the difficult 'cost of living crisis,, unprecedented increases in utility costs.. IreaseS in staff wages (above that of the maintained sector) and against competition from other independent sthools in close proximity. The Govemment's dlSIonS in the past 9 months have further placed Increased pressure on independent schools with charitable stslu5 land those wilhoull. The initial thre81 and final implemenlalion of the Govemment's decision to force independent schools to charge 20% VAT on school fees has inevitably had an impact on pupil recruitment and retentson. particularly in the current Socio-economic conditions. As a result, the School's fees increased by 2D% (VAn for parents in January 2025, from £8,331.50 to £9,997.80. Furtheffnore. the Government's decision lo remove charitable schools. 80% reduction in business rates has impacted those concerned s(gnifjeanlly. The cost of business rates fmm April 2025 has increased from £587.00 10 £2,984.00 per month {a pro-rala annual increase of £28,764}, for no ascertainable benefit. Increases in National Insurance and the minimum w89e will also have an impaci in due course and we are wf(nessing Independent schools closing aeross the country as a result of these decisions. The true extent of these decision5 will likely be borne out in next year's annLral returns. It wll be the continuation of the SchfX)I's grO%h which ultimately determines the success of the School. tr11St the Brothers of Chrislian Instruction continue to support the School, we consider the Sehool a going concern on a path lo restoring its position In the local community and as a prominent and leading Pfimary School in the city of Southampton and neighbouring cities. Once the School has ulb'mately achieved this aim, there are intentions in place to polents'ally open a seeondary department and On again pul the School back on the regional map as a leading Ihrough-school in the county. The Board is, however. acutely consaous that the primary school mu51 be on a stable footing prior to entertainin9 the secondary offering. A core element of our eharilabte slalus is the ability to offer bursaries to families who meet the financial criteria. In academic year 23124. the school offered £27,621,20 in bursary reductions to familles of the Schwl and offered £21,698.20 in bursartes in academlc year 24125. In tems of raising funds for extemal charities the School has held various and regular events and committed lo school-wde Inrtialives, including the local community, and raised vital funds for local, national anij interllalion81 charities such as University Hospital Southampton NHS Foundation Trust Ithe Piam Brown Ward for children's cancer), the Macmillan Cancer Support, Gulde Dogs For The Blind as well as raising funds for a Catholic charity based in land to support the underwvileged population of) Bamenda, Africa, which was our late Chaplain's Chosen chaflty.
CHARLTON HOUSE SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORD (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 No reserves are held by the S¢h¢)ol. 11 was a start-up in 2020 with no funding. Ils reserves are being provided by the Brothers of Christian Instruction. who have agreed lo commit lo funding any shortfall in the medium-lem and whilst growth is evidenced. The Brothers have committed lo funding the budgeted shortfall between projected fees 8nLI aclual expenditure, with annual reviews of the financial position lo ensure the Board and the SLT are committed to Tnoniloring the deployment of fvnds received, which has been achieved successfully since opening in September 2020. As the reserves are provided by the Brothers of Christian Instruction, this currently negates the requirements. However, it is planned to eate, as the School grows, reserves which will facilitate the School becoming sew- SLthcienl. The surplus funds are as a result of a donatsons made from the Brothers to SUPPOrt the Sch¢x•l. The Iruslees have assessed the major risk$ to which the Charity is exposed, and are satisfied that systems are in ace lo miligale exposure lo the major risks. structuro. govèrnance and management The charity is a eompany limited by guarantee, governed by ils memorandum and arts'des of aSsl0110n. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of Signature of the fin8naal statements were.. Mr S Hulbert Mrs D Owan Ms M Richardson Mrs M Thompson Mr C Holliss Dr L Kowalewski Mr G Le Maislre Mr G Sangha Mr E Musgrav8 Mr S Driver Mr K Verdon Mrs L Pay {Regned 24 October 2024 (Resigned 14 November 20241 (Resigned 14 November 20241 {Appointed 24 October 20241 (Appointed 11 November 20241 (Appointed 13 November 2024) (Appointed 26 November 2024) All current Trustees follow a rigorous vetting process of new Iruslees and appoint by majority position. There Is a standard application pack, which is completed by all new trustees and vetted by all current trustees. Al the point of completing this report, fv40 fUrtr trustees are due to be appointed. None of the trustees has any beneficial interest in the company. The trustees, r8POrt was approved by the Board of Trustees. Mr C Holliss Trustee
CHARLTON HOUSE SCHOOL LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHARLTON HOUSE SCHOOL LIMITED I report lo the trustees on my examination of the finanrAal Statements Df Chartlon House School Limited (the charity) for the yoar ended 31 August 2024. Responsibllltles and basls of rgport As the trustees of the charity {and also ils directors for the purposes of company lawl you are responsible lor the preparation of the financAal stslemenls in accordance wlh the requirements of th8 Companies Act 2006 Ilhe 20C Acti. Having satisfied myself that the finanoal ststements of the thartty are not required to be audited under Part 16 of Ihe 2006 Act and are 81igible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2022 Ilhe 2022 Acl}, In carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2022Act. Independent examlnor's statement Since the charity's gross income eXded £250.000 your examiner must be a member of a body listed in section 145 of the 2022 Act. I confirm that l am qualified lo undertake the examinats'on bècause l am a member of ACA. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection with th8 examinats'on giving me cause to believe that in any material respect.. accounting records were not kept in rèspect of the charity as required by section 386 of the 20C6 Act; or the financial statsments do not accord wth those records., or the finanoa1 statements do not comply with the accounting requiremenls of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter nSidered as part of an independent examination., or the financial statements have not been prepared in accordance wth the methods and prinaples of the statement of Recommended Praetice for accounting and reporbng by charf(ies applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard appllcable the UK and Republic of Ireland IFRS 1021. I have no concerns and have come acTOSS no other matters in connection wlh the examination to which attention should be drawn in this report in order lo enable a proper understanding of Ihe financial statements Ic* be reached. Sarah Corb•tt FCA HJSAccountants Llmlted Tagus House 9 Ocean Southampton S014 3TJ
CHARLTON HOUSE SCHOOL LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestrlcted Unrgstrlct8d funds funds 2024 2023 Motes Incorng from: Donations and legacAes Charitable activrtl8S 147,224 408,621 238,430 312,890 Total Income 555,845 551,320 Expgndlture or?: Charitable activrties 567.862 539,828 Total expenditure 567,862 539,828 Net Incomel{•xpendlturel and movement In funds 112,0171 11,492 Reconclllatlon of funds: Fund balances al 1 September 2023 35.659 24,167 Fund balances at 31 August 2024 23.642 35,659 The statement of financAal adivities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activit5.
CHARLTON HOUSE SCHOOL LIMITED BALANCE SHEET AS AT31 AUGUST2024 2024 2023 Notos Flxed assets Tangible assets 10 13,138 15,301 Curr•nt assets Debtors Cash al bank and in hand 11 6,603 38,445 7.936 52,548 45,048 60,484 Creditors: amounts falllng due wlthln one year 12 (34,5441 {40,1261 Net current assets 10,504 20.358 Total assotslgss Current Ilablllties 23,642 35,859 Th& funds of the charlty Unrestrtcted fvnds 15 23,642 35.659 23.642 35,659
CHARLTON HOUSE SCHOOL LIMITED BALANCE SHEET (CONTINUED) ASAT31AUGUST2024 The company is enblled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2008, for the year ered 31 August 2024. The directors aCkno%edge their responsibilities for complying wilh the requirements of the Companies Act 2006 th respect lo accounting records and the preparalion of financial statements. The members have not requlred the company to obtaln an audll of Its financial statements for the year in qtjestion in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. The financial statements were approved by the tsuslges on . 28 2025 Mr C Holliss Trustee Company registration number 12792114 {England and Wales)
CHARLTON HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcles Charfty Infomiatlon Charllon House School Limf(ed is a private company limtted by guarantee with no share capital incorporated in England and Wales. The registsred offirE is 55 - 57 Midanbury Lane, Bittgme Park, Southamplon, Hampshire, S018 4DJ. 1.1 Accountlng convenuon The financial slalements hav8 been prepared In attordance th the charitys goveming dooJmenl, the Companies Act 2006, FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. fFRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordan¢e wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffectiva 1 January 2019}. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial slalements are prepared in sterfing, whlch is the funfAional currency of the charity. Monetary amounts in these financial slalements are rounded lo the nearest £. The fin8nci81 statsments have been prepared under the historical cost conventlon. The principal accounting policles adopted are set out below. 1.2 Golng ¢oncem Al the lime of approving Ihe financial slalements, the trustees have a reasonable expectation that the tharity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounllng in preparing the financial stslemenl$. 1.3 Charftsble funds Unreslricled funds are available for use al the discralion of the trustees in fvriherance of Ihelr charitable objectives. Restricte(I funds are subject lo s1¢ conditrons by donors or granlofg as to how they may ba used. The purposes and uses of Ihg re$trict8d fund$ are Sel out in thè notes to the flnancial statements. Endowment fvnds are subject to splfi¢ conditions by donors that the cakwtal must be mwntainod by Ihg charity. 1.4 Incomg Income is recognised when the eharity is legally enlilled lo il after any perf0mlan conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donation$ are cOgnised on receipt. Other donations are rgcognised onee the charfty has been notrfied of the donation, unless perfomance condttlons require defeTral of the amount. Income lax recoverable in relation to donations Teceived under Gift Ald or deeds of covenant is recognised al the time of the donab'on. Legaryes are recognised on receipt or otherwise rf the charity has bean notiffed of an impending dislributlon. the amount is known, and retsipt is expected. If the amount is not known. the legacy is treated a5 a conlingenl asset. Other income, including the hire of facilities, Is recognised in the period il is receivable and lo the extent the school has provided the goods or services.
CHARLTON HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollclos Icontlnuedl 1.5 Expendlturo Expenditure is recognised once there is a legal or constructive obligation to Ifansfer econumic benefit lo a third paty, it is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliably. Expenijiture is classified by actiwty. Th8 costs of each activity are made up of the totsl of direcl costs and shared costs, including support costs involved in undertaking each activity. Direct costs allribulable to a single tivily are allocated directly to that actNity. Shared wsls which contn'but8 lo morè than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spenL and depreciatson charges are allocated on the porbon of the asset's use. 1.6 Tanglble flxed assets Tangible fixed assets are inrtially measured al cost and Subsequently measured al cost or valuation, net of depreciatson and any impaimenl losses. Deprecialion is recognised so as to write off the cost or valuation of 8ssels less theif residual values over their useful lives on the follobwng bases.. Fixtures and fith'ngs 10% straight line The gain or loss arising on the disposal of an asset is determined as the differenc£ bee0n the sale pro¢eeds and the carrying value of the asset, and is recognised in the statement ol finanoal activities. 1.7 Impalmi&nt of tlxed assets At each reporting end dale, the charity reviews the carrying amounts of ils tangible assets lo determine whether there is any Indication that those assets have sUffed an Impairment loss. If any such indlcalion exis15. the rfjcoverable amount of the asset is estimated in order to determine the extent of the impaimienl loss lif anyl. 1.8 Cash and cash gqulvalonts Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liability'es. 1.9 Flnan¢lal Instruments The charity has elected lo apply the provIonS of Section 11 'Basic Financial Inslrumenls, an(t $tIOn 12 'Olher Financial Instruments Issues. of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the chanty's balance sheet when th8 charity becomes paty lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls. when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a nel basis or to reali5e the a55el and 5etNe the liability simultaneously. Baslc financial assets Basic financial assets, which include debtors and cash and bank balances. are initially measured al transaction price including transaction costs and are subsequently carried at amorbsed cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets dassified as receivable within one year are not amortised.
CHARLTON HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 A¢countlng pollcles IContinu8dl Baslc flnanclal Ilabilltles Basic financial liabilitses. including creditors and bank loans are initially recognised at transadion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the lulure payment5 discounted at a market rale of interest. Financial liabilities classified as payable 4Wthin one year are not amortised. Debt instruments are subsequentty carriet1 al amortised c081, using the effedive interest rate method. Trade creditors are OblallonS to pay for goods or seMc8s that have been acquirèd in the OTdinary eourse of operations from suppliers. Amounts payable are classified as current liabilities if payment is due wthin one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measuTed 8t amortised cosl using the effective interest method. Derecognition of financial Ilabilities Financial liabilitie5 are derecognised when the charity's contractual obligations expire or arè discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entrtlement is recognised in the period in which the employee's services are received. Temiination benefits are fecognised immediately as an expense when the charity is demonstrably committed lo tsrminate the employmgnl of an employee or to PTovide lerminalion beneffils. 1.11 Retlroment boneflts Payments lo defined contribution retirement benefrt schemes a charged as an expense as they fall due. Income from donatlons and legacles Unre$trlcted funds 2024 Unrestricted funds 2023 Donations and gifts 147,224 238,430
CHARLTON HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Charitablg activities Advancement of Advaneeme edUCaOn ntof educatlon 2023 2024 Staff costs Depreciatlon and Smpalmenl Rates and ulilrties Maintenance costs IT. website and telephone Printing, postsge and slalionery Insijrance Marketing Legal, professlonal and accountsncy fees Training costs MiscellaneDUS ¢OSt$ Teaching m8terials Bank charges 391,690 2,163 29.390 12,520 25,934 6,851 32,086 7,740 8,627 2,637 364,575 2,163 33,260 13,172 23,271 5,376 25,293 4,732 12,874 5,778 li 12,592 30.498 179 6,210 36,235 239 562.907 533,178 Share of support costs (see note 51 Share of govemance costs (see note 51 2.095 2.860 5,180 1,470 567.862 539,828 Support costs allocated tr> actlvlllgs 2024 2023 staff costs Governan costs 2,095 2,860 5.180 1,470 4,955 6,6SO Analysed befv4een'. Challl8ble activities 4.955 6,650 Net movernent In fundg 2024 2023 The net movement in funds is stated after chargingllcredilingl.. Depreryation ot owned tangible fixed as$el$ 2,183 2,163
CHARLTON HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Tru$tges None of the trustees lor any persons connected with them) received any remunerabon or benefits from the chartty during the year. EMployS The average monthly number of employees durlng the year was.. 2024 Number 2023 Nurnbor 14 13 Employment Costs 2024 2023 Wages and salaries Other pension costs 376,809 16,976 357,017 12,738 393,785 369.755 There were no employees whose annuol remuneration was more than £60,000. Taxatlon The charity is exempl from laxalion on ils activtlies because all its income is applied for charitable purposes. 10 Tanglblo flxad assets Flxturns and ffttlng8 Cost Al 1 September 2023 21.627 Al 31 August 2024 21,627 Depreclatlon and Impalfm¢nt Al 1 September 2023 Depreciation tharged in the year 6.326 2,163 Al 31 August 2024 8.489 Carrylng amount Al 31 August 2024 13.138 At 31 August 2023 15,301
CHARLTON HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 11 Debtors 2024 2023 Amounts falllng due wlthln ot)e yoar: Trade debtors Other debtors Prepayments and accrued income 3,887 2,716 1,620 2,716 3,600 6,603 7,936 12 Credltors,. amounts lalllng due wlthln ong yoar 2024 2023 Notgs Deferred income Other creditors Accruals 13 27,115 4.205 3,224 27,744 10.019 2,363 40.126 13 Defvrrod Income 2024 2023 Ari%ing from sthool fees received in advancg 27,115 27,744 Deferred income is included in the financial statem8nls as fo15ows'. 2024 2023 Deferred income is included within.. Cuent liabilities 27,115 27.744 Movements in Ihg year.. Deferred income al 1 September 2023 Released from previous period5 Resources deferred in the year 27,744 127,744} 27.115 16.674 116,6741 27,744 Oeferred income al 31 August 2024 27,115 27,744 14 Retlroment bgnellt schemes 2024 2023 Defined contrfbutlon gchemes Charge to profft or loss in re$ped of defined ntribU.On scheme$ 16,976 12.738
CHARLTON HOUSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 14 Retlrement beneflt schomos Icontlnuedl The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 15 Unrostrlcted funds The unrestricted lunds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include ¢Jesi9nated funds which have been sel aside out of unrestricted funds by the Iruslees ft)r speafie purposes. At1 Incomlng Septgmb8r resources 2023 Rgsoyrces At 31 August gxpondod 2024 General fiJnd$ 35,659 555,845 (567,862) 23,642 Prevlous year. At1 Incomlng Sgptsmber rosources 2022 R85ovTces At 31 August expended 2023 General fijnds 24,167 551,320 1539,828) 35,659 16 Related party transactlons There were no disclosable related party Iransactlons during the year.