REGISTERED CONIPANY h'UfvIBER: IM2000J8 (England #nd Wales) REGISTERED CHARITY IYUfvIBER: 20779 Rtport of ihe Tru51ee5 and Audited Financial Siut¢menl$ f(+r the I'far Ended 31 Augus12024 for West Klrby EdutatlonAI Truii *AOYEDIXC• 1510312025 COMPANIES HOUSE A19
183
West Klrbv Educatlon¥l Trust Contents olthe FlTrancial SMt<mènts for th¢ Yèar Ended 31 A1$¢ 2024 Pze Report of the Tsle Report of the lidependent Audltors Statement of FlnaThcial Attivitle$ 12 'B4lanee Sheel 13 Caih Floi Slfji¢ment 14 Notes io the Cash Floii. SIHttmen¢ 15 Notes to (he Finanelal SIAt¢menis 16 10 30
W5t Klrby Educatlonal Trust (Reg151ered number: 00211Q018)
Rtporl of the Trustees
for the Year Ended 31 Augtsst 2024
The trust¢es who JrL' olso direciots of lh¢ charii). for ihe puOse5 of IhL Compani¢s Aci 2fKJ6, pr¢sLni IhL'ir report lviih the
riiianiial siaiemenls lif Ihe chariiy for Ilie y¢ar ended 31 Augusi 2024. The Iru%tee4 hav¢ adfipied ilie provision$ of
Ac¢oiLniing and Reportin¥ by Charities.. Siaieiiient of Recominended PTJclice applicoble io chariiies prewJrin8 ihcir acLgwIIs
in accc)rdance willi Ihe FiiiaiKial Reportin¥ Siandard applicuble in the UK and Republic of Ireland (FRS 1021 (efftttive I
January 20191.
OWLCTIVES.4h'D ACTIVITIES
Publi¢ beDefit
Th¢ TTUSi¢CS liav¢ Larefully considered ilie Cliariry Commi&sion's genLnl 8uidcillLL on piibli¢ bLnefii .Ind pJrticulJr il
supplcmeniary piiblic bcnefit guid4nec on advttncing education lind on fee-charsin&, Thc Truslecs consider Ilioi ihi $chool
n)L¢ts thc 'Public BLiiefii' r¢quiTimcni ihrouBli lh¢ DdvaiiL¥ll)eiil i)( ¢duLaliuii. i%.hiLI) prvvid¥¥ binifii lo l)oil? piipil4 and ihc
wid¢r ¢ommuni¢)'. and Ihtst ther¢ are no unre0n3bl¢ reslriclions on participatiiin.
Communlry supporl
The niijoriry of $iatT in Ihe Trvsi are qolaried. A number of local people aiiend giving voluniary service io ihe Schools
durin8 ierm, Thè Trust ivould likc lo lake this opporn1ry lo say hoi%' much (heir continuing and iialuable suppon for our
pupils 1$ JppNriJ(rd. Siarr ai ih¢ Schools arc cxlrcnicly gralcfi]I to 411 ihosc who 8ii'e iheir lime %LUn1arIIY in SUPPOning ihe
children and young peoplc., noi leasi of Ihose ore ihc Trnsiees.
The objeciives nf Ihe chiiriry arc thc ediicaiioii i)nd care of children with complex special iieed$. who urc rccognised by their
Lotal Edu¢tsrion Authority Os hafvins Icorniiig, social. emoiionjl, menial health und bchavioural challcnqe$.
in OTder ¢0 meei Ihose objectlVC5, th¢ Truslcc5 Set out ID ihc Aonual School Dcvelopmcnt Plan a sei of $trai¢gic oims..
l. To share Ihe high ¢xp¢ciation Ihal children and young people IC'YPI ai the school a¢hi¢ve ai least fiv¢ GCSES or
equivallni {depending on obiliiy).
2. To ensure youn8 pcople Icave school willi a good reading level.
3. To siipport. enable and d¢velop CYP ¥vl)u have previously slnjggled 10 access tducaiion lin¥lLiding being PEXI ro
S¥if.regulaie mlln¥¢ge Ihchr social cmoiionol. mcnthl health and physical nceds both wiihin ihe school envirunineni and in
4. To illLoufd&iL CY'P 10 b
Ivest Kirby Edu¢at(onal Trust {R4istered oumber: i1020118) Report of the Trustees for the Year Ended 31 Augusi 2024 ST114TEGIC REPORT Achltvenieni nd performanc Cbaritable actii'lties T1 >ifdi¢gic alin¥ dr¢ m¥1 thr¥ts¥li d¥Pdnlllkii¢al Ub)Klives. wliich arL b¢1 out by (he Seiiiiir Leadlrihip Tcarn. Froii) Ih¢si objectives the School Dcvelopmeni Plan lur ihe currLnt year is PfepihfLd and approi'ed bv. the Board. Oiigoing progress moniioring is Cale oui by Ihe Scniof Lead¢rship Teani, leILl¥¢d iennly ¥n evaluAtiun repun prcscnled io IhL Buard artnually. Chilthen continue io p¢rfonn up ro and abolie ih¢iT ¢xpeci¢d progress. The schwl'5 onsjle thernp¢ulic sen'i¢cs hakc meani Ihat our piipil.q ivith more challenginu behavioiirs have heeii ahle in acce.4s ihe Ibll curriculum delivered b> the reaching giaff. Th¢ lI7d1n¥ ivork's oli Ihe nei¥'.5chool ivere ¢ompleied diirinF Ihe year 811d Acre Vieiv Primary Schtsul in'Lydiait Was able 10 welcomc its fir51 pupils in June 2024. This ha5 allowed the Trust io 0er the.sanie htgh siandard of educalion Jnd Care io children from a ivider 8eo8raphical are), in bespnke iurroundin8s enablin8 Ihe children 10 do Iheir besi work. FlnantiAI rle. Flnattclal pojltlon The DTrieclors. us TnJ$tees. havc a prime dire¢Ti¥c 10 proitrt Ihe Jsseis of th¢ Charity. The Trnsl's principal ftindiiiui soiirce 15 Ihroii&ih fees chttrged 10 Local Auihorities. The.se llre revieived annually by ihe Twsiees Ji)d sei ai o level Iv enablL Ihc C,harily 10 mLci Curreiii coinmiimLiI15. 511PPUrt fviurc d¢vLlt)pm¢ni tsiid cnsilrc lh¥ Tnisi's schools remairt ai Ihc [0rro11( uf providiiig fur childr¢n itid yoitng pcople iitiih coniplex dirriculiie.% and SFwial EduLJiional NLeds. Thk InLrLcd coinplL'xiiy of som¢ of our young P¥oplc r¢quircs additional sthffiiig support in somc arras Jnd u fc¢ bJndin8 $irucNrkn is in plJc¢. Ve coniiniie io %vork ¢losely iviih Locdl ALiihorilies 10 help ihem undersljnd ivhai Services are proitided for Ihe fees paid, aiid iv¢ arc ctsmmiiied 10 revie%i'iii¥ ihe ftt siruciur¢¥ fvrthcr. As Il* einployer, the TThs¢e¢s remlin ever Iniiidful of Ihe p¢nsion scheme li&biliiy de5piie closin8 dic scheme io fuiiirc accTual in July 2010. Folloivin8 Ihe Triennial revieiv as ai l April 2019". a rei'ised Recovery Plan w#5 piil in plg¢e. The offleial Tri¢111 Valuation is bein¥ carried oui is ai ilie ertd olAu8tssi 2024. The Truste ar¢ happy io rcport ihal thc Tru51'S a¢¢ow?Ls reniain morc ihan 5alisfDciory ivith a nei in¢omc, before adjustmcnt5, of £562,771 (prior year £346,163). Th¥ r¢poned oiicrttll surpliis of £650,771 includes an acwarial 8ain or £88,000 (rom ihe IVKRS pcnsion xheme. IDI'tslmenl poilcj 2nd objectives Invesim¢n15, which are held as fi.x¢d asse15, ur¢ inclwjcd in lh¢ flnancifjl siDi¢iMtniq 01 rnarkv %'Jliic. No resiriciions apply 10 tlic School's invcsinient POWCf5 in rc5p¢¢i of $Lliool fvnds. Currcnily th¢ School holits o small inv¢sts)wni iti COIF. Ihc remaining availablc fvnd$ being held in ihe curr¢ni accoiini. Reserves policv Due 10 fuJidaniei)tsl uii¢en8inties siirroundii)¥ Ihe 5¢hool'5 in¢omc mi)d lh¢ cvcr-incr¢win% ¢xpeiidiiure requiremen. Ihe Direcior5 believe Ihal tlie free rery¢s should fall iviihin 3 ranee Ihgt prniides nexibilily in ihe conie.xi of operaiional requireniei)ts. )¢ iar¥ei rtsii8e has bcen scl betyi'ccn E1,500,c4JO and £3.000,000 ivirh ?mounis bo¢ Ihis T.Mge proiidiil an opportuniry 10 groKI'. Ihe ¢hariiable i%ork5. Al 31 Avgusi 2024, the free re$crves amotsnicd io E192,J88 renecliii¥ thv iiivcsinieni that 1105 been rnade in Ilic 5clf-fund¢d ¢on.siruction and set up of ihe neik %hool. This posiuon is p.rojecied to in1p10"t o¥'ef the n¢xl financial vear as Ihc new scliool ljecomes more c.%iabltshed. Thc free rc5cn.cs used ILI dcrivL Ilic5C fi¥uTes are Ihe ¢&sh balancc5 adjusied for currivi crcditors.
I¢$1 Kirbi, Educationthl Trust (Regi$i¢red number: 002170(J181 Report of Ihe Trustees for the V¢ar Endfd 31 Augujt 1024 STILITEGIC REPURT Fulure pl#ns The Tnjsi has conlinued io dcli¥'er on the )ims of th¢ khool Dei'elopmtnt Plan IhrouBtrL.good plOrLAS ond ih¥ htsrd i¥ork' of thc School L¢ad¢rship TCJM ttnd then ihe whole school sTatT. Th< ITU51ees hii'e Jllo¢.Ii¢d r¢soiirc¢s to ihe school in the nei¥ budo¢t 10 erttsble li lo rnect the aims of thc neiv School Devclopmcnl Plan. We tsre dLlighicd ,1¢h the ongoia&i %i'orK'5 arounij the dtvelopnienl of a nLlI' prinillry provision in Lydiaie. and Iiiok fon4rd fo ihe opening of Acre Vieii. Primary School ift rhL nc.¥t academhc yLar. Thé Trustees Jre owure of Ihe impuci thld t Ihy pund¥mie and cosi of living crisis has had on eduLation aiid Ihc fJinili¢$ we support. Thc schoi)I's ajiii 1% 10 iI)<ln8e cliilclten's liv¢s' Ind ihe cliari(y his Slriven io give &5 mwh iargeied resources as possiblL and ihe coming VLar i%'ill scc Ihai aim niuiiilaii)¢d. STRUCTURE, GOVERNANCE AND fvI.4NAGEMENT Goi'erning do¢unien¢ Thc ¢hThrity is ¢onirollcd by govcriiing docum¢nl. a of Int. ond con¥tiDJits a limitLd conipai)y, liniiiLd by ¥uar)nltL'. as defined by thc Coniponies Aci 2(W)6. Wesi Kirby Residentiol School l¢h¢ Srhool) %vJ5 csiabli$hed in 1881 J$ ihe Children's Convalesceni Home and iy incorporai¢d in 1924. ThL Meinorundum aiid Anicl¢s ol A$¥ociaiion of IhL SLhLK)I w'ere reipi5cd and tspproved in 2021. The Sehool changed its nim¥ 10 W¢st Kirby Educuiional Trust in Ociobcr 2023. The Schc4)l is a compJny limiied by gitarinice. Rcgisier¢d Number 7(01 8, attd hu$ no shts c)piioI. It is also ll choriiy rc8isl¥r¢d undcr IlTre Chiiriti¢5 Ail 1960. R¥bvL$lerL N'uiiiiK'r 207790. lil Qie eveni of the Lompany being ivoiind up iiieii)ber5 arc requiTed to LontribiiTe An aniounl noi c.xceedin8 L IQ. Recruitm¢n¢ and appointment ofneii. trusloes Th¢ DireLtor5 1)f Ili¢ Loinpiinv ure al40 Ihe Chariiy Tni%itti for Ilie piiryjn.ies nf charity l•%i,, The Directors miisi k Memb¢r5 of Ihe School and be rt-appoinied ai ilie Annual General Meeiing on ¥ rollliiiig basis. The can also be oppointed al any oili¢r tinie Il)iou81)oul th¢ year subjccl io Board approi-al. Directors may 31 any iinie resign tl)eir oifice by 8 Ilolice in wrilirsg or be fetired by k resoluiion ol ai Icasi ihree.fourths of ihe membcrs prc5¢nl. DiTecioTh $hall ipso fado vacate Ihcir otTice if Ih¢y ¢rase to br a mcmbcr of Ilic SLhool. .4 Tem15 of Reference Documciii ivas agTLed in ?019 io support Ihe role of Ihc Direcror¢ of ihe school Page 3
Wesi kirb). Educalionil Trusi (Registered number.. 00?(10018)
Roporl ol the Truslees
for rht Ycar End¢d 31 2024
STRUCTURE. GOIIERh'..INCE AND.N.1.4N.ICEMEN'T
Organ159tlottal $lru¢ture
Board of Directors
I'h¢ Board of DirLYlor¥ is r¢spoRsible lor mJn)ging ihe compan)p and all finan&iil pspecis of Ih¢ Sihool 16 nd ¢nsuring that the
-4ch1 me¢iy& all obligalion5 Pled upon il by thv ChJTily Cuiiiiiiis>ioii. Cuinpdny and EiiiplvyiiiLTlI Ltw attd I1 Hi#lili and
SJf¢tY Excculiv¢. Thi5 includ¥S'.
Planning and conduciin8 its affDir5 to r¢main solveni.
E.$lDblishiii¥ propcr fin?ncilll manay¢mtnt arr
West klrb}' EducatlDn41 Trust IRegSstered Dumber: OD211001R) Report of fhe Trusiees for thc YeAr Ended 31 August 2024 REFEREN.CE .4IND ADIlll,NISTti4TIVE DETrllLS Registered Componi. number 00200018 (England and WJles) R¢glster¢d CharlTh' fftumber ?07790 Reglsttred office Mcols Dril'¥ IVes1 kirby LH48 5DI.I Truyle¢s Philip Deak'in (rc5ignèd 27,11.241 DcLy)ruli Gvuld IT<sibTriicd 22.5,24 j Julic MJJia Merrv Stephen PLaiock Victoria Siorcv Ircsigncii 12.9.231 MclAnie Sian Thomas Anii MDriC Grndy Ir¢sigryicd 21.9.231 Father Brian Bell Thosii.i$ Jonaihaii Whiiivoinl) ljppoinicd 8.2.241 Peier LNeil Merity lappoiiiied 27.11.241 CILrry Fliiiio¥an (IippiiiiiiL,d l.11.24) loisey & Co LLP 8 IVinm)Tlcigh S(rect Varringion Chesbirc WAI IJW Soll¢liors Sione King LLP Upper Borou¥h Coiirl Uppcr Borougli Wallly Baih B.41 IRG B Thnkers l.land¢lsbankcn PIC 101 Bnrbirolli Square MahchLsi¢r M2 3BG Page i
Ivest Kirby Edu¢aiional Trust (Regi%tered 0Mber. 00?000181 Rtport of iht Trustees for th¢ YtJr Ended 31 August 2024 R£FEREtYCE AllDADlIN,ISTIl4TlVE DET..IILS Siaff Governor Lynda Poivncr Compani. Sccretarv Lindsay Bolt lappoinied 01101121j241 CEO I Prlncipal Melanie Sian Thonia5 (Principal ofivesi Kirby School and College 10 31108120241 +enSor L*Adershlp'fe•m IIV¢st Klrby S¢hool and College) H¢adi¢acher- Ricliard Hicks lJppoinl¢(101109120241 Assisiont Headicachcr- Sici'en Hulfflc As%isiaThi HeadicuchrT and SENDcu- JLnThifi'r Juni'5 14hppoinicd 01109120241 Dcputy Headieachcr . P¢ier Smith D¢puN Headieacher- Sarah Ivilkinson Lkprity Hcadi¢ucl7cr- DJnicl Flonabvun SeThiDr L¢#dL'rship T¢4m (Acre IlieM Priman. School) Heod Teacher- Eli21beih IllyTrn¢ t)epiily l.leJdieaeher Joaiine Mullin School Business Monog¢r- Flolly Prince SENDCO . Lindsey Thompsoi) Safcgufjrding Lc&d . DDni¢l Storcy STATEfvIENT OFTRUSTEES. RESPONI'SIBILI'riLs The mtsicei Iii'bo are also Ihe direcioys of West Kirby Educational Tnjsi for Ihc purp05C5 of company la1} are responsible ror preparing tht Repon vf Ihc Trusiees yn(I thK finJiicial Sli)Iciiicn15 in acLordancc with applicublc laiv and Uniied Kingdom A¢¢ouniing Siandards (Unilrd Kingdom Gentrolly Acccpied A¢couniiDg Prnciiccj. Company li& Il. Tcquhfc5 th¢ trusie¢$ lo prcporc finonciul Sl¢M¢nI5 for cach financial year whiLh 8ivc a true and fair View or ¢lie Slaie of )fftsirs of the charitable comp.qnsl 1nd of the incoming resour¢es nnd appli¢iiion of resoiirc¢%. including the incom¢ and ¢.lP¢ndift. of ih¢ ihuriLibl¢ ¥oinpany for thul periud. In prcpuriThb Ihosc firtan¢ial siaicments. Ihc rrnsiees are requircd 10 scleet suilJble occouniinq policies and then apply them consisicnilv: obscrvc Ihe nieihod$ and principles in Ihe Cliariiy SORP. makc judgLmeiilS and ¢ilimaies Ihai are reiLsonJbl¢ pNdcnl: prepare ihe linancial slii lem¥iil& (Trn the bi(Trin¥ concern basis iinless it is inippropriaie ¢0 preslime Ihii Ihe ¢hariiable cnmpdny 14.ill cviiltnu¢ iii l>ii.%iJ)e5S. Tlit Iwslee¥ ire re%pDn5ible for keeping prnper acLUUlllin¥ recordi ivhiih di¥ilvse iviili ieasoiiabl¢ 81 aiiy lime the rinJn¢ral posiiioii of the chariiable Lompaiiy aiid 10 eThabl¢ them 10 en5ur¢ thai ihe finJncial $iaiemenis Comply %triih ihe Conipanies Aci ?U06. They are a150 respon.Eible for safeguarding lh¢ 8:4seis of Ihe cliariiable company and henle for Idkiiig reasonable sieps for ihe preveniioi) and diicclion of frJud and orlicr irrcgulari(ie5. In so far a8 Ihe mJ51ees are aivare.. there is no relei'iini iiidil iftfom1411ion of ivhich rhe chariiable company's auditor5 afL uJiJivJfL'. und Ihe rru$iee5 hai'¢ takin all sl¢ps thai ih¢y oughi (o have iaken 10 makc 1hem5eli.es Ju'are of anv releiiant Dudii iDform)tion and io'esioblish thai Ihe gudiiors are ail'are of thai inforniaiion. Page 6
l%'e$i Kirb)- Educallonal Tru$t (Regi51¢red nuniber: 00200018) Repvrt ofiht Truitee5 for ihe Yethr Endcd 31 Au¥u$t 2024 STATEMENT OF TRUSTEES. RESPO.4SIBILITIES- eontinlltd AUDITORS Th¢ auditors. Voisey &. Co LLP. will bL propoKd for re-appoiniincni iii acLordanc¢ willi scciion 485 of ihe Coi)Ipwii¢s ALI ?006. lThib fL'POrt hos bL%L%n PTLpared in ac¢ordanrc with ihe Siaikmeni of Rtcommcnd¢d Praciic¢'. Accouniing Diid RportinB by Chjrities IUpdDie 2. Piiblisld Oclober 20181. Repon of ihe irnsiees, incorporaiing a SlTai¢8ic repon, approvtd by order of the board of INsiees. as iht company dbrectors. on 10 Fcbrullry 2025 and sigiild 011 ihl board'$ behalf by: i elaiiie Sian Thonias- Tnsiee Page 7
Rtport of ihe Independent Audilors io the hfembers of Il'fgt klrby Educmrfonal Truyl (Register number: 002000181 Opinion Ve hi11'¢ audii¢d thL fiii#nciiil 51aiLments of IVe¥l Kirby Eduitttioiial Trusi (Ihe 'LhJrilable con)pany') for Ilii yr ¢nded 31 Aii4usi 2024 11,Iiiih ¥on)prise Ihe SiJi¢ni¢ni uf Fin41ncial Aclivities. Ili¢ t4alanie Sheei, Ihe Cash Flo%%, stement and noies 10 ihe finunLial slaletn¢nis, in¢lud>Ji¥ a sumi)iary of si¥iiifiL1. 111 aCLouniiii¥ poliLi¢y. The fifian¥ial rtporlin¥ franww'ork ilial ias b¢¢n iippli¢d ID Iheir preparaiion is appliiable la. .Ind Uiiiied Kin¥dom ALcouniing Siandurds (Uniied Kingdom (ieiierJlly Accepi¢d Accountin8 Praciic¢l. In our opinion ihe finaniial SUlenicni>'. gi4'e a irne and fair kie4v of thc staic ol. IhL churitablc ¢omptsny's tsfrui os lli J l Aususi 2024 llnd of its inconiing rcsourcLS and applicaiion of r¢souTCLS. includinx ils incomi. &id iXPLndiiurc, Iof Ihe year then elided., l)ai'e beèn prop¥Tlv prepared in accordon¢e '11h Uniicd Kingdom Gon¢rolly Acccplcd Accowilin8 Praciic¢', and lia%'c Ix'ej) prLpJred in Jc¢tsrdaTrc¢ iviih Ihe reqiiircmenis of IhL Companies Aci 2006. Basls for opSnlon Wc ¢ortduLlcd our audit in J¢cordanb¢ wilh Ini¢maiionJl Srandards vn Audiiin¥ IUKI IlS.45 IUKI) and appliiuble law. Oiir responsibiliiies un(ier Ihose sl)i ndiirds )re fvnhcr desLrib¥4 in lh¢ Audiiors. respo111111es for ih¢ uudii of thc finartLial slil1kniLn 5LLlivn of our r¢pDn. W¢ )rL' indcp¢nJcni uf Uic LharilJblc iutnP¢iny in accordance '1th the ethical reqiiiFemenis IliJl ,ve rcl¢%'iThl io oiir nudii ot the tinancial $1411cincnts in Ihe UK. incliidin8 Ihe FRC.'$ Eil)i¢al SiJndard, nd ive hJv¢ fulfill¢d ur oihLf &ihiLal responsibiliiie% in accordaiiLe ifviih Ihe.Ee requiremenix. Ive helieve Ihiil Iho Aiidil evldettee we hAve obiiin¢d is suFfi¢ieni and ?1 ppropriaic io provid¢ o basis for our opinion. Con¢lu$ions r¢latin% to going Loncern In Audiiin¥ the finai)¢ial siaierntnis, li'e Iiave concluded thai ihe tru5tees' use of Ihe goinB concern basis oftseeountinB in the prcparaiioii of lh¢ financial siaicnicnts is appropriaic. Based oil Ilie ivork ive II¥Li'C p¢rfomd, is'c havc nol idcniifi¢d any tnalc'rial unt¢nuiniics relJiiiig its evcnis or eoimlitions Ihai, individually of ¢oll¢crii¢ly, maj, casi signifi¢anr doubi on Ihe charitabl¢ conlpanls abiliiy ro.coniinu¢ os a Eoiiig Coiicem for a period of •[ leas1 nveliTrC nionths fron) w'htrt the financiol siaiemenis are auihorised for issue. Our responsibiliiics and the re$ptsn$ibilili¢s of Iht trusi¢cs iiiih fc5pe¢t 10 going ¢oncem )r¢ dc5Critd in Ihe rclevont sc¢tions of thi¥ rcpon. Ollitr inforniation The Irusiees are Tesponsible FOT rhe oihcr iiifomialivn. The other infomiaibon comprises ihe infomiaiion included in the AThniiil Rep(Jn, oiher Ihan Ihe fi#xrbL'ial siAiernL'iii& uur Rlpurt of Ili¢ IridLpeiidini Audiivn4 th¢r¥un. Oiir opinion on ihe firtiliiciJI siHiemenlS do¢$ noi eover Ihe oiher infDniiJliTrii and, excepi In thc cxienL oihenyisc expliciily stsied in our reporl. Ivc do Iioi L'xpr¢ss ai)y fomi vfilysuf4nte Lontlii¥iOJ? Ihercon. In Loniiecliuii willi our dudii of ilit fit)iiociI siai¢ni¢nls, our rLsponsibilily 1$ 10 reLd ihLi other iiifominlion and, in doinb $0, cons5deT %vhelher ihe other infDm)?iion is materially in¢oThsi51eni th'ith Ihe linancial s&ienienlS of our knoM'ledge obiained in Ihe 8iidil nr Diheni'is¢ appvar% i($ bv niJivridllY iniSblate¢J. Ir %ve idei)iify sucli matrrial inconsisien¥i¢s appareni ntsierial mi55tatemtn15, 4¥e ar¢ required 10 detemiine wlieihcr this gives rise ¢0 a maierial missiaiemeni in the finjncial siaiemenis ¢hem5eli'e%. Sf, based on Ihe iVOTk- have perfornied. Ive coiiLlud¢ tjial iliere 15 a material nii55laiem¢rti of ihi5 o¢her iiiforniaiion, iv¢ arc rcoyircd io rcpon ihai fact. We Iiove nothin4 10 repon in ihi$ rtgtsrd. Opinions oil oilier nialt¢rs pre3¢ribed bi the Componies Act 2006 In our opinion, ba5¢d on Iht ifvork undertaken in Ihe course of Ihe audii.. Ihe infnJ7n&iioll in ihe Report of Ihe TnJ51Ce5 for ¢hb financial ycar for wliich Ihc finuneial statetncnly arc preptsred is ¢onsisieni lh¢ tin&ncial srDicm¥fii$.' and Ihe Repon of Ihe TnLsiet.% ha$ been prcpar¢d in 41c£vnFdnce ii'iih llpplic(Ibli.l¢k1Jl rcquirL'inenis. Pag¢ 8
Reporr ofihe Independtft¢ Audliors io the lemberS or
IVt$t'Klrb>' Educatlonal Tru5¢ (ReEl$ltred number.. 00200018>
I,lot¢ors on M'bich ivo ore rcquired io report bi ei
Report of ihr Independenl Auditors io ihe Members of Ivest lilrby Edu¢niloii81 Trusi (Re&lsf¢red number: 00200018) Our rL¥sponsibilitifs for iht adit of the financial statLllltn Our obJeilLI'es io Obl71n re&rysonAble nssiirnnce &boui wheiher ihe. finaniial 41aienienis a wliole are fre¢ ITOM maierial niissiaiemeni, 14,Ii¢th¢r diie io frAud or c'rror, and io iS>ue a R¢port of iht liidep¢ndeiii Audiiiirs ilial in¥lud¢s oiir opinion. Reasonable assurnnce is a high le%'el ol. assurniice. bul is nol a 4uarJntee ihal audil Londucied in ac¢ordan¢¢ i%'iih IS.4s (UKI w'ill al¥vas's delect a Inateri4LI n)issiai¢nieiii Ivhen il CXl>ls. Misstatcrnwits ean arise fioni fraud or em)r and are considered Material if. indiiiidually or in ihe aggre¥ Jie, Ihej. could re)sortably be expecied to iiifluence the economic dc¢i5iois ofuscrs iakcii on ili¢ basis of ili¢¥e finsjncial 51aiein¥n(s. The ¢xrtni to ivhi¢h our pro¢¢dur¢s are copablc of dei¢¢iing irr¢8uliiriiics. iiicludin¥ frnud is dtiaild b¥loiv'. Irre8ularili¢s, iii¢ludi118 Iroud. ts. iiisiuilC¢s of iioii-ion)pli8llL¢ '11h Iuivs rL'¥uIation1. WL d¢si¥il Procedures ii) linc M'illi our responsibililies, outlined aboi'c. io deie¢t maierial misstatemcnts in respeei of iffeoulariiics, includin8 fraud. The exienr 10 w'hich our proredures are cupablc uf dilrolLll¥ i(fLgularilicb. in¥luding fraud 1% dethiled bcloii,: I W¢ enquiTeLi of drtd ihuse char¥cd with goi'emoncc about aeiuAI and potential liiig?IiCn and ¢111ims in the conicxi of th¢ ¢otnpany, includkng r¢fvie¥%' ofr¥.l¢vanl nominal ledger o¢counlS. 2 Ive obrJinid Jn undersranding of laii's, regulation5 2nd guidancc thJi aifcci th¢ rornpllnv and lis subsidiary, focusing on Ihosc ihai had a dir¢ci e(ftti on Ihe fini¢ n¢iAI Sl¢ilkmenis or Ihii i htid fundamental ¢ft¢¢i on Iheii openiions. key 114 IVS, resulaiion5 ond suidancc ihDi wc idLnrificd in¢ludcd the C.oinpanic5 11¢1 2006. Chariii¢s A¢1 2011. Education Aci 2002. CliildreN% A¢1 1989, health And &ifcry le5117110ft 14 nd ¢inpl¢ym¢ni,leBislaiion. 3 Wc ¢siquir¢d of m'.In¢igemeni and Ihosc chirged ivith goi'emiince io ideniify Jny insianccs of non-coniplii4 IILe wilh 14llVS and relIaoi75. Ive o15KI NViCW&d mccliiig minui¢¥ ivhefL ts¥'uilablL for Lvid¥nce of nun-coinpliaiicè with Tcl¢¥aiil Ittws 471)d re¥ulaiion5. Wc rei'ieii'ed the co11)pan% firiancial slaieminl dis¢losiires and agreed all io supptsrtino do¢unicnlalion lo a$$es5 coinpliJnLc %viih ihr applicable laws und rL'¥ulaiions d)U$5¢4 Jbovc. 5 - Ive ¥aInL ali un(krsiuiidiii¥ of (lie coi)Irols thai manJ¥¢ineni Iiuve iii yluce io pr¢v¢ni aiid del¥Li frnud. Ive enqiiired or mmiagemerti abnui any incidences offraiid thai had laken pia¢¢ during the a¢¢ounling period. 6 - The risk of fraud ond non.eonipli8nLe wilh laii'5 and re¥ulaiion$ ivas discussed iipithin the audii ieam aiid le5 wer¢ planned and perfornied to addre55 these risk5. 7- in addr¢$5inll ib¢ risk of Fraud due io managerneni OVCTTid¢ of ¢ontrols. is¢ perfomi¢d ies1in¥ ofjoumal enirie.8 and oihcr adjusrmenis for appropriaierteis, cvrLluaring Ihc business rationale of signifi¢1 iransaclion5 ou15idc thc nom)al course ofbusincss ond rcvicivin8 accountinK esiimaiLS for bia5. 8- Wc also ¢hall¢ng¢ maiia8¢iii¢ni )ssunipiions ii'iih T¢g¥rd io ts¢counting esiimpics. D¢$piie approprioie plwiiwnk lliid pcrforniin8 our ivork in ac¢ordDnc¢ wi(h InicnTaiional Auditin8 Siandhrds, Ihere fjre 01i¥8ys iIthLrcni limiiuiion% Ihai non-cornpli3n¢e 15 not dci¢cied, Non4¢ompliance ivith laii's ond rtgultsiion5 15 oficn fwthcr removcd from Ihe even and transociiow r¢fl¢ct¢d in thc finan¢ial 51al¢iii¢iifs and mailrial misstaiemenls due to ud Can be delibcrdlely conce4l*d froni aiidiiors, for ¢.iample through misrepresentation: lorgeri, or collusion. A further deseripiion of our responsibilitie5 for the aiidit of the financitsl slaicmenis is locaied on tbe FinJn¢i&l Reporting Councils ii'ebsiie ai lvi¥.frc.0rg.uk}adi[Q[SrÈ$pvl1sibIll1leS. This dNriplion foTm5 Pii n of ijur Report of IhL Indep¢ndent Audiior5. Paoe 10
Report of the Independent Auditor5 to the 'leMberS or Il'esl Kirb). Educatlonal Trust Ol¢gi¥1er number: (lQ21)0018) Use ofour report Ti)i& repvn 1% mmde wlely in ihe chiTltable comp4iny's members, 1% 0 bo(l>'. in &lLcordan¢¢ iviih Chapter i of l)an 16 of ihe ConipTriiiis Aci ?006. Our aiidil ivork l)as been und¢nak¢ii so Ih14 1 ive iiiiglii slai¢ lo Ihe LhJriiable Lomp4iiiy'S m¢mbers Ihnge maiiLYS ive are feqiiired ia suite lo them in ai) audirors, report IL lid for no other purpose. To ihe lulle51 exleiii permjiied by laiv, %%'e do i)01 J¢¢¢Pl OT assiime resw)iisibilil)' 10 )Yo11t i)tiiei' Ill) Ilie lhlébI¢ cnn)pany and the Lhariiible compaiiy's members Js u body, for our Judil i%'ork, for ihi5 report, or for lh¢ opinions li'e ha%'e formed. Janine Boyc* IJFP FCA hlAAT Iscrtior Siarulory. Audiiorl for and on bchalf of V015cy & Co LLP ¥ WiDmarl¢igh Streei W1118¢011 Chesknrc VAI IJW 10 Febmary 2025 Pa¥c I
West KITbv Edvealionlll Trust StatemeDt of Financial Actiiities for the Year Ended JI August 1024 31.8.24 Toial Iiinds 31.8.23 Toial fvnds Unrestricied fund Restricled runds Endoiynienr Noies iNCOIllE .U•T) ENDowlENTs FROM Dundiion5 and legi¢ CiC5 12.419 12.419 593 Charlt•blc acti¢1 Direci Educalioii 7.836.729 271.433 8,108,162 7.007 793 Investment income Other irtcon)e 10.323 35,020 9,296 52.283 7,892,135 271,433 11,296 8.172,864 7,048,729 EXPENDITURE ON Chari¢•blc octlviil¢s Direci EduLulii)n chil(k S¢rvic¢s Esiablishmeni Expeiises Suppon Cos Governanee ¢OSLS School pension costs 3.481,704 765,841 1,554,366 1.431,8?1 24,414 3,506,118 765,841 1,801,385 1,431,821 25.118 12i.OLM) 2,874,067 775,359 1.670.295 1,243,U63 22.738 18,389 247,019 125.000 Other 6,867 6,867 TotAI 7.390.717 271,433 7,662,150 fj,703,911 Net gain5 on invesimenls 11.770 11.770 .345 I'ET INCONIE Tran5fcrs bohvcen funds Other re¢ogni5Ed Eaill51{lo$se$> Acruarial xainslllosse51 on delined b¢nefil scbemes 501,418 9,297 21,066 (9,297) 522.484 346,163 18 88,000 88,000 1217,0001 ot movement In funds 598,715 11,769 610.484 129,16.1 RECONCILIATION OF FUNDS Toiol fijnds brought Eorwiard 10,599,448 114,263 10,713.71 10.584.S48 TOTAI. FUNDS C.ARRIED FORII'ARD 11,198.163 1?6,032 11,124.195 10,713,711 The notes forn) pm of these Iinan¢iul statements PtsÉe 12
Wesi Kirb). Edue#tion21 Trusl IRegist¢red number: IJO?00018) Balanee Sheèt 31 Augu%t 2024 31.8.24 Totol lun&- UnrLstri¢i¢d rund R¢siriLled riinds Eiidoivmeni liind Total 14inds 01¢5 FI.XED ASSEI'S TtLn¥ible ass¢ Ini'estments 12 13 10,957.117 10.957.111 126.032 8.980,72? 114,263 126,032 10,CJ57,117 126,03? 11.083.149 9,094.985 ciniREhT ASSF.TS 14 219.822 550.901 ?19.8?2 550.901 20S.337 2.101.ri17 Ci¥li 41 bJnk 770.723 770.723 2,306.354 CREDITORS Amounis falling duc iyiiliiii ot)e .year (391.677) {391.6771 (346,6281 liET CURJIENT ASSET 379.046 i79.046 1.959.726 TOTAL ASSETS LESS CUIiRLNI' LlplLIILI'I'I LS 1.336,163 126,032 11.462,IY5 11,054.711 PENSION LIABILITI, 19 1138,OC(I I (138.0001 1341.0001 PTT ASSETS 11,198.163 126,032 1.324,195 Fufs'DS Unresincicd fiinils Endo%vmcni funds 18 11,198,163 126.032 10,599,4I8 114.?63 TOTAL FUNDS 11,324.195 10.713.711 T.he finan¢ial siai¢m¢nis were approved by Ihe Board of Twstee5 and auih0ri5ed for issue on 10 F¢bruary 2025 and were signed on lis bLhJlf by.. Melllnie Sian Tlioni*is- Trusiee The not¢s fomi p)n of ihtse finan¢i21 siaiements Vage 13
11'¢51 IKirb)' Educ4tional Trust Cash Flov'.Stgtement for the Vcar Ended 31 AuRust 2024 Jl.8.24 31.8.23 Noies Cwyh floivs from operallng a¢iiililey Cash generated froni opcrations 90j,R3? 614,5X9 Nei cash pr¢i'idcd by 0lIng QCii¥'iiies 90i.832 614,S89 Cthsh flom's from Ini'e5tln£ ?ctii'itle% PuT¢hlS¥ nfiangible fixcd 2s%elS SJl¢ of ¢angiblc fi.xcd ass¢ (2,465.2441 (1,123.869) 2.500 N¢1 casli Usi in ilib-e5tiii¥ aiti%'iii¢s 12.465.244} 12.121,369) C8sh from financin¥ a¢lii'iiloi Lapital Tepa)Thcnts in )rttsr Income aiiribuiablc io endoill Lxpenth"¢ur¢ attribui•bl¢ io cndoi¥nieiil (821) 2.521 {1.345) 9.296 Net cash pmyided by finart¢uig )Clrviti¢s 9.296 35) Chfyngt In eash ind <o$h equivolen¢S in tl)e rL'purlin¥ ptriod C8sh cn5h e4uiI'thlenlS al the beginning of the rtporilni perfod -11,550.116} (1.506,425 } 2,101,017 3.607.442 C4sh and ¢ish e4ul%'al¢nts Ai iho end of the rcporliii& period 550 1)01 2.101.017 Thc noies fom) pan of ihese fhnancial siaiem¢n15 Pag¥ 14
Il'est Kirbtr Eduetionl Trust oles ¢0 the CJ5b Flow St3temeDI for the Yethr £ded 31 Auguxt 2Q24 RECOINCILIATION OF NET INCQfvIE TO NET CASH FLOII, FRO1 OPF.RATIYI C. AcfiiiiTrEs 31.8.24 31.8.23 vt iiicfjiiic for tlie reporiing period {a$ per the Siatetiient oFFlttanci#l Actii'itL¢sI AdjuslmL'nt* fur: Depreciaiioii charbies Ciaiii on iiii'eslmeiils Loss on disposal of fixed Lsscl Income aiiribuiablcl lo ¢ndoivniei)I E.¥pcJidittkrc aiiiibuiable to endoM'mei)I Pension 5cliern¢ adjusim¢nis Incrcgsc ii) ¢kbrors Incrcose in ¢rediiors 522.484 -146.163 353.730 (11,7701 135,120 (9,296) 370.265 (1,345) 12,i21) 1.345 jl 28,0001 165.6371 93.093 (115,000) 114,48>) 4.5,049 Nei ¢a$h prol'lded b>. oper#tlnni 905.8J2 614.589 ANALYSIS OFCHAliGES IN NET FUNDS Al 1.9.23 Cish flnw Al 31.8.24 Ne¢ cosh CL%h ai banK- 2.101,017 11,550,116) 550,901 ? 101,017 11,550,116) 550,901 Toiul 2.101.017 11.550,1161 SSO,901 'The noits forni p)n of these fintsneitil SlfilLmeni$ Paoe 15
Il'e51 Kirbi. Educlltional Trust Notos to thc FinAn¢itil'Siatemen for thc Y¢Jr End¢d.11 Auguit 2r114 IICCOUNTING POLICIES B#sis of prcparinE the financlal statemtnls Thc financial siai¢m¥ll15 01- thL chariiablr ¢ompanv. 'hICh is d public befy¥fil entity urtdknr FRS 102, hai'e Lxcn preparcd in accordance ii'iih the Charilic$ SORP IFRS 1021 'Aecouftiing and Repoff ing by Chiirilits.. Siaiemeni of ReL0lineftdCd Prdclicc applicablL 10 charitlks preparing Iheir accoun¢s in ac(ordan M'ith thl Financial Rcponing srllnd.vd appliiable in ihe UK R¢publiL ot. Ir¢land Ib KS 10?1 IcffL%tive l January 0191'. Finankial Reponing s4rd 102 'Th¢ Financi.11 EiLponing Sroiidar(l applbcable in Ihe UK and RipubliL of Irk'land, and lh¢ Comptsnics A£t ?006. The finan¥i4i1 stai¥inonis have ix.fn Prepar undcr lh¢ hisioriral ¢ust convrniion. 'rhi SLhl is a Pliblii Biv¢lii Eniitv regislcred 71 5 a cli&irity in Entsrland Jnd W:Iles lind a company lin)iicil by 8uafkiiii¢e. li 14'a$ itiLorwrÉLlrd 011 23rd Aiigubl 1924 Icoiiii)4llly I)Lilli.¢. l)02C4JO181 aiid ¥¢gi51ered a5 .1 cliiyily on 22nd 5eplcmber 19162 l¢h14 rilv nuniber.. 2U779uI. 1.he r¢Bist¢rcd otTiee is IVe.%i Kirt>' Residenlial School. Ivcsl Kirby. WirrJl. CH48 JDH. Tr pr¢s¢nvdiion Lurr¢nLy of Ihe fiiianLial ¥iai¢m¢iii% 1$ Ih¢ pound ¥ierlin¥ ([). Moiieiary omoLini8 in th¢se finanLi•l Sldi¢ni¢nl$ are round¢d 10 ihe neJr¢si £. Colllg contern The accowiiq hai'.e been prepared on the ¥oin8 concern b15is. In lh¢ Tmsiecs, opinioi) Ihe charity hAS adiql))t¢ rcsourcLS 10 continue iii op¢rolion41 ixi51ciiee and thcrc are no iiillrcrial unccnoiziiics thal orreci thc chwiry's abiliry io operait on the going eonccrn bisis for Ihe foresteable funire. Income All inco¥ is r¢¢ogni5cd in Ilic SiJi¢m¢n¢ of financial Aclivilic5 Vnic dic chariiy eniiilcmcni 10 ihc fiinds, il is probic bl¢ ih.ii lh¢ incorne ivill be T¢rc.ived lind ilie 47lliL)iinl f4711 be mL'J511r¢d Teli*Trbly. The ftslloiving specific policiis are applied io Pini¥ular caleyurics ol-income.. Incoming resuiir¥eS from LhariiablLTr li cl1vill$ are receiired by ivay of xehool fecs. ¥rlln receivcd and contributions 10 51hool trips. Thiy aK' all crcdiled io the Stsicm¢iil of Firtancial Aclii'iliL¥ in aL¢oTdan¢¥ wilh ih¢ riod Ihey T¥lai¢ 10. regirdless of ivheii aLfLiilly recei%'ed. Any amoun15 r¢eeived in Jdv4hnce ur¢ Ireaied #s deferred income. and
rrears arc ireaied as deb(OTS a¢ Ihe vear end.
Granis rcLciiicd for 5pecilic purp¢)5cs Jre cr¢diied io ihe Sialemenl of Financial Aclivilies on ieceipi wid allocdied ic restricied fuiids. t)oniied goods are included ai Ihe i')lut to Ihe ¢hirity ivhere Illi5 can be quanfirl. 'fhis valuc include5 all incoEnc rcccivid by the charirj. thai is, in subsiaiicc. a gifi made to it on a itoluntary basis. A doiialion or legac>' will bc rreaied 15 unrestricted fvnds. Incortie froin ini'esimeni$ 1$ included in the Stalement of Financi141 Aciiviti¢s in (he year in which it is rtteivthble. Eipendilure Liabiliii¢s ari re¢¢)gniscd Js expenditure ls soon 25 thcTe is a l¢gal or ronstrnilil'c'obligalioii coiwiuiiin¥ thc LhlY 10 Iliai expendittire, li is proble il)ai a Ifgnsler ol. ecunoini¢ benefits will be requircd in settlLmeni and tht amount of tli¢ gbligaiion ian be Ineasiircd reli1c bly. Expei)dirure is accoiii)ILd for on 4Ln aLcruali bdsis ai)d hab blen clitssified uiid<r h¥idiiigs inclLiding siaff cosi.s. I11 arc direcilv aiiribul4iblc io Ihe organisJlion's ciii'sly. WherL co%ls cannot be dir¢Lily aiiribuied 10 Piinicular heii dings thLy liJv¥ b¥¢ii dlloc(IIL.d aciiviiiei b05cd oil ¥L Sl4ilY iimL $IKI)I. ChariiDbl¢ r.¥p¢J]diiurn ron)PT15¢S thDsF rosts iniLirred b} ilie chzriiy iii ihe d¢liv¢ry ofits IiLlivili¢s and svrviccs. Voge 16 continued...
Wè$1 Klrb). Edy¢ation41 Tru$1 Noies to the Financial Siattment¥ - ¢onliiiued for the Year Ended 31 .4ugts$t 2024 ACCOUNTIIYG POLICIES-continued L"¥pendirnre Gov¢rnancc cosis includc thosc c0s15 associJi¢d M'ith wnttiin¥ Ilie sluiuiory r¢quirern¥nis of ihe Lhlirity an(1 inclii(l¢ lh¢ Audit f¢¢ and cosis link'cd to the srn¢¢sic managemcnt of ¢harity. Cosis of generaiing fijnds compris¢ asso¢iaied ii'iih am¢tins voluniary income and Ih¥ costs of rcsouTLes. T•ngihlc fixed assets Tanyibl¢ fixed 11 $5LlS ar¢ slated Jl hisioric411 c051 Irss accuiiiiilaied d¥pr¢KhÈiliuii lind Jny 8LLiimulaied iiiipaimieiil 10sse%. HisioriLiil cost iiicludes e.Ypeiidiliire Ihal 1$ dir¢¢ily niiribui.Ible 10 bringinb ihLi ossei io the locotion and coiidilitsii n¢ccs541ry for li 10 be cipabl¢ of Dprraiiiis iii Ilie iiiaiiiiir iiiiLii(ILd by IlifjTrlW¥¢III¢III. Freehold propcrty Planl and nia¢hincr> Fixtur¢s and filtiii¥s Moior Yehieles Conipuier tquipnieiil Nil . Lond, 2Yo. Buildin8S Sirai8hi line OVLr 15 ycars Sirai8hi line oi'er 10 years 20% on cost 3.1'A on Cost ThL capilalis¥iivn policy 15 no Ic&% Ihan Ihc siaicd aniouni%'. FrcLhold prop¥rti'_ £ 1.000 PlJnt and N4Jchinery . LS00 Fi.Xhirrs and Firtin85 . £250 Conipuier equipmenl £250 Fi.x¢d a55ets are rèvicMi¢d for impJirni¢nis annLiJlly. Disposi1$ re biuihorised Ji the ycar end. TAxAtlon The cbariiy is eyempl from ¢orporation la.x on lis cl)atithble aciiviii¢s. Fund th¢rfjuntin¥ Unresirici¢d futids can bc uged iii accordance iiiilh Ihc ch¢iriinble objecijires at ih¢ discreiion of Ihe iN51ce$. The 8Liieral fund 15 an uiircstricied fvnd aiid is available 10 mc¢1 th¢ &xp¢n5¢s oEihc school. Kestyici¢d fvDds &in onl>. be used lor particular resrrictcd purposes ii'iihin thi. objects of Ibe chariry. Resirirlions rise ii'hen spttificd by Ihc dojior or ivhcn fundb ur¢ rJis¢¢J lor P41rtirular rcslrici£d purposc8. Thc School holds ali endvm'inenl, IIIL pcrt]l&intnl rlimLlll vf which il 15 legall} prevtniLd fmm spending and MLISI remain ?5 pan of Ihc School s capii.Il. The income arising Irtsm Ilie a55cls of thc cndow'menis is ovailllblc io meet th¢ expciisc$ of thc sihool. Fixed a$5Ct inl'estrncnts Fi.Yed i1£S¢i invesimtnil ar¢ incliided ai closing mark-ei Vi11ue al Ihe b31arKY sh¢el dale. Any ¥gin or Ioss 01) r¢valuaiion is takcii lo illl slemen1 ofFinJi)cial Aciivilies. Pension co5t5 and other post-rc¢iremeni benefits The ehiriN' opcraleE a dcfined benefiis'pen5ion schenie. The assets of the schem¢ ari l)eld and manJg¢d sepJrJlcly from those of Ih¢ ¢h)rily. Th¢ c051S of dii)iiu51crins (bc pcnsion sclicnle arc ¢h)T8¢d lo th¢ Sithicni¢nl of Fuiaiicial Arliviiie$. Th¢ CLiryeni pcnsion difbcir h1 been pft)i'idtd fnr in:*¢¢ord.rynce %i'iih FRS 102. Page J7 conbnued...
Wesi Kjrbi. Educgrfonal Trust Notes to the Finaneial Statements- continued for the Year Ended.11 August 21124 ACCOUP4'l'lNG POLICIES- ¢ontlnutd Pension cost5 aiid other p05t-rftirement benefits The ¢httriiy also optraies ft 5TthkeholdeT nSIOn s¢heme'and iea¢h¢rs' pcosiou scheme. These costs ore chorged io ihc Siai¢m¢nt of Financial Aciiviiies. Fliiancl*l In%trnments The follo%Yin8 ossets liubililics are cla55ificd Trs finanLinl inswmenls Irud¢. debtors. oihcr d¢biors. prepaynients. trade crediiori, oih¢r crcdilOTS, ae¢nhals ond dclerrcd incomf. Finaneiil instruments are rnered ai the iii)discounied omounl of ihe ¢Lsh or oth¢r ¢on5id¢rntion é¥pecled io be paid vr received. Financial a4sets and liabilities that are measured ai amortised ¢osi are assessed at ihe end of each reporting period for objeciive ei'idence of impaimieni. Ir objeciii'¢ evidence of impttimeni 1% found, Jn inipiiTment loss is recognised in Ihc Stal¢ment ofFinllncioI Aciiviry. ond ih¢ hi$loric cost is included in Ihc notc5 IQ Tht neeount$. CRITICAL ACCOUNTbNG JIJDGEhfENTS Ah'D KEY SOURCES OF ES'fiK4TION UNCERTAlh'TY Esiirnaies aiid judgcmcnt5 ar¢ coniiiiually evJlual¢d ¥ri buscd on hi51oriciil ¢xpcricnce ind oiher fu¢iors. in¢luding ¢xp¢¢taiions ol. evenTs ihai Jr¢ believed io be rei150noble und¢r th¢ circumsian¢¢s. Th¢ charity makes esiimaies And assumpiions conceming Ihe fiiiiire. Thc resuliing Jccounling e5timtsi¢s nnd ulumplions will. tyy dtfinilion, seldom cqual Ilie relaied llctutsl rcsults. The ¢S¢in)iil¢S ld assiiinpLiuns ihdi Iluvi d >ignifiLdn( risk uf causing li mlicriol adjusMeni 10 ilie ¢%irying iimoiinis of asseis and liabiliiies iviihii) the ncxi fLnanci411 ycDr Drc di5LU5scd bclviY= When wi a55¢1 is purLhiised il is c4tcgorisd ii?io an assei class, thc deprcciaiion policy of Cach class esiimii les the eeoiiomic life tsf all asse(s iviihin Ihe class. The depreciaiion poliey oft#¢h assei clas4 15 deiemiined by manttgeinenl and rcviewed regularly for appropriaieness. The d¢prLYialion poli¢}. adopted is based oil historical ¢.xperi¢nL'¢ iv¢ll as considering the fitlure ¢v¢nlS which may in7paci ihe usetiil eLonomic life ol. all asseLS ivithin th clas$, such •$ han8cs in liilirkei demniids. In gddillrtn. FRS 102 reqiiires an eniiiy io assess Ai e#ch reportin¥ ivhethei iheie is any indicaiion thai Bssets wiihiii J cluss may be impaired i.e. Ihe Te¢oiiernble anioiiiii of rhe a55ei is lebs than ihe Larryiri¥ ainouiil. Ir aiiy such indicaiion exisis. mai)agemerti gre required to estimate the recoverable amount of Ihe individual assets concerned. Management judgemeni is applied to detem)ine if rei'¢nu¢ and cost5 should be re¢o8nis¢d in the current peri¢)d. DONATIONS AND LÈGACIES 31.8.24 31.8.23 Doniiions Coniribuiiun iu sLhuL)I rrip5 12.359 593 j?.419 593 Page 18 oniinuod...
Vesi Kirbi. Edyejtionthl Trust Noles to iht Financial Statements- tontlnued for ihe Y¢xr Endcd 31 2024 INIIESTll£lT IYCOIIIE il.8.24 31.8.23 Reni$ reeeii'ed Income froni ini'¢stni¢ni% 7,802 2,521 10.32) tNCO%i fF. FROI).I CH.4RITABLE ACTIVITIES 31.8,24 31.8.23 SLI)(>trl f¢¢¥ Pupil preinium Dirvcl F.diit'llion DircLI Educalion DirLI Educaiion 7,836.7?9 6,658.129 29.220 315,444 241,63Y 8,1015,162 7,002,793 CHARITABLE ACI'IVITIES COSTS Suppnrt cosi$ Is¢¢ noic 71 Dircci C0$15 Tolols Diieci Cduiaiion Childcare S¢rvices Esiablishmeni Expen$¢s Supw)n Cu51S Govcinance Lost9 School nSIOn cosis 3,498,285 7,S33 765,841 .801,J85 ,431,821 2S.118 12i.UQO 3.506.118 76S,841 1.801,38S 1,431.8?] 25.118 1 ?5,LK)O 3,498,285 4.156,998 7,655.28J SUPPORT COSTS Cliwiwbl¢ {excluding luniari resourcc5 Goitni&)Ck tosis Mnna8emcni cosis) Tota15 OÉhcr Tesources e.xpcnd¢d Direci Ediieiiion Childcarc Scrvices Lsiablishrncnt E.xpcnses Suppon Cosig lJovenianc¢ cosr5 Schotsl pensioD costs 6.8fj7 7,688 6,867 7,8)3 765,X41 1,801,38i -431.821 25.118 125.OOD 145 765.841 499.10? 6)9.438 1.167.166 772,383 135.117 25,118 125,000 765,986 1.283.540 1.954.104 160235 4,163.86) Pagc 19 coniinued...
West Kirb). EduCOnal -I'ru$i liof¢s to the Finanei#l Staiemeui$- Conlinutd ftsr the Year F.ndcd .1 I AuEUS12024 PIET IliCOMEIIEXPEliDITURE) Nci iii¢omel(eKpeiidiNrcl is sioied aftcr chllr¥iiigl{cidili1181'. 31.8.24 31.8.23 Auditors, reniuneraiion Audiiors. rcmuncrotion for non audil 'orK. Depre¢iaiion oi%'Théd asseis Deficii on disposal of fi.xed )$5CiS 18.)36 (1,782 351,017 135.117 17,50U 5.238 370,?66 TRUSI'EES, REh'lUYI ERATIONI ' knYD BEYI EFITS There M¢r¢ no iw$lee$' reinuncniion or oih¢r benefiis for ihe y¢ar efid¢d 31 Augu$t 2024 Iior for Ihc yeur eiid¢d 31 A851 2Q23. I rus¢ees' expen$e$ There wtre no injsiccs, expcilscs paid for Ihc year ended 31 Au&iusi 2024 nor for ihc ycar ¢ttded 31 Augtssl 2023. STAFF COSTS 31,8.24 31.8.23 ltsges and 5alrics Oihcr pttL>iun tosis 4,536,579 12.000 125,000 5,269,244 4,648,579 ThL' airage monihly number ofemployeLS durin¥ ihl V¢ii r was a5 folloivs.. 31.8.24 32 65 16 -11.8.23 28 66 12 22 Teacht Cliildcllre. Care homc & Clinical services Admini51ralion and fiiian¢c Domeslic &. Nlainlcnancc 133 128 The number of eniployccs whose employee b¢nefiis (¢¥eludin8 éniployer pcnsioii c051sI exccedcd 160,000 I%.. il.¥.24 31.8.23 £60,001- £70.IX £70,001- £80.000 £90.001- £100.000 Eighi ¢inpluyL'iS r<i¢ivttl <mvliinii'iii¥ in VXLe* vf£60.000. Iviih ihi. Ividl of Ihe lri(S be'iii¥ £592.363. Page 20 continued...
es¢ Klrbi, Eductiong1 Trusi J otes to th¢ Fin2n¢i41 St31ements ¢ontlnutd fiir ih&. Yvdr Endid 31 August 2024 10. ST,FF COSTS- Contined l-hLSL Lniplo>iccs 1ILld Ihc posiiion ol. Principal, Op¥f)lioiis fvlaiiagcr, Finan¢e MJiia8cr, Teachcr artd Deputy HeadfeaLhcr aiid coniprisL%d i of lh4 6 iulal 5Kniur le8d¥fs1iip l¢ani. COIIPARATIVES FOR THE StATLNIE)4T OF Flh'.4NCIAL ACTII'ITIF.S Unrcsiricied Restricied nd funds EndowmenT fiind Toral filnds INCOIIL AND EIYDOII'J).IENI'S FROh.I DonuiiL)n.s l¢¥aLi¢s 593 59J Charltabl¢ llctlvltles Dir¢¢¢ Educaiioii 6.658.129 344,664 7,002,793 7,802 35,020 2.521 Oiher in¢omc 35,020 Total 6,701.544 344.664 2.521 7,048,729 EXP£h'DITURE ON, Ch#riiable acliviltes Dircci Lducaiioii ChildcaTC Servicc Esiublishnicni Lxp¥nses Suppon C0515 Go%'cmancc cosis School pension cosls 2,874,067 77i,359 ,i25,631 1.243,Oh3 22,73R 118,389 2,874,067 775.359 1,ti70.2YS 1.243.063 22.718 I l R.3f19 344,664 I'otal 6.i59.247 344,664 6.?03.911 N¢1 gains on in%pesimei)Is 1,345 ET INI COhlE Trunsfcrs bchleen fuud5 Other recogNis¢d g6(lo5$tS) Actuarial Soir(19$¥C$.I on dcfined bcnclil 5chcmcs 34:.297 346,163 (2,520) (217.000) (217,0001 N¢t moyemeni In funds 127,817 1,346 129,163 RECOh'CILIATIOIN or ruiYDS Toial ndS brou8hi fonvi¥Td 10.471.631 10,SR4,54X TOTAI. FUI¥DS CARRIF.D FORITrARD 10.599.44S 114.263 10.713.711 Pagc?I continucd...
e$l l(irbv Edueational Trust Notes lo the Finanelal Staternent5- ¢ontlnued ror ihe Ytar Endcd 31 .4u#usi 2(I24 12. TAliC,IBI.F. FIIF.D ASSETS FiYNr¢s ai)d Freehold propcnv Plaiit and n)achin¢ry fvlotor VLhi¢S¢$ Totals COST Ai I SepiKmb¢i 20?3 Audiiioni Disposol$ RL¢l15sifiLAlbon 10,504.492 1.541.950 I143.82fj1 1,288.456 660.?39 1163?691 (5,4661 769.163 263.055 117,8011 5.466 95.253 12.657.366 2.465,?44 1324,8961 Al 31 Auyysi 2024 11,902.b16 1,779.960 I,OIY.883 95.255 14.797.714 DLPRECIA'I'IOIY Ai I Sepleiiib¢r ?02J Lharg¢ lor year Flin)inaied on diiposll. Rcclassificallotran$l¢r 2.606,134 189,¥.10 (21,n16) 809,558 9¥,11416 {1 $0.5681 {>.466) 191,109 53,093 115,4801 5,466 69,84J 9,248 J,676,641 351,017 1187,064) Ai 31 Augum 2024 ?.774,948 752,370 234,188 79,091 3.84Q.597 h'ET BOOK IIALUE AI 31 Augu512024 ).127.668 1,027.590 785.695 16.164 10.957,117 At 31 Augusi 20?3 7,898.358 478.898 578.Oi4 8.980.722 13. FIXED ASSET INVESTh'lEIYTS Listed investmen Urtlisted inv£slmert15 IARKET tr*lLUE At I SepiLmber 2023 R¢i'aluarions 114,262 11.769 14,263 11.769 Al 31 Au&tU5t 2024 126,031 126,012 NF.T BOOK VALU Al 31 Aiigusl 2024 126.031 126,032 Ai 31 Augus(2023 14,262 114.263 i¢re M.'ere no inv¢simeni a$stts ouiside ilie UK. Cosi or %lall0n ai ! l Aususl 2024 is represenied by.. Lisi¢d Uiilis¢ed Toials Valuation in 2024 120.0.11 126,032 The compan}.5 inv¢simcnis al Lhc balanc¢.sh¢eT dalc in the share capiial of companies include the follo10. Pagc2? continued..
West Kirbv Educational Trust Notes to ihe Financial Statements- CODtIDUtd (or thi, Yc'ar Endi,d 31 Au¥v>t 2024 13. FIXED AET lh1STfvlENTS- cfjntlnuod IVKRS Pension S¢heme Truslee Limlt¢d Regisier¢d ofticc". Wesi knrby Resideniial School. M¢olts Drive, WL*i KtrbyTr Wirrdl, CH48 5DH Nature ol business: Domiant Class of shore: Ordinary holding 100 31.8.23 A¥gregaie capiial and rc5erv¢$ 14. DEBTORS 31.8.24 31.8.23 Aniounts falling due iviihin one year: Trade debtors Oihtr d¢biors PTcpU¢Th15 Ind a¢CTued incoi))e 128,032 5.186 79.587 100.393 6.984 YS,U4¥ 212.805 20?,42 j Anjounts falling due ofter more Ihan onc ye)r.' Other dcbiors > l year 7.017 2,912 A8wgate amL)unis 219.822 205,337 15. CREDITORS: ANIOUNTS FALLl%I'G DUE IVITHIN ONE YEAR 31.8.24 31..8.23 Trade credilors Other CT¢dilors Accruals and deferred iiiconie 98,499 113.J07 179,871 243,470 9,564 93,594 391,677 346.628 A6. LEASING AGREENTENTS Minimum l¢a5e paymettis un¢¥f Don-canc¢llable openting leases fall due.ls folloivs., 31.8.24 31.8.23 lidiin on¢.year .913 Pagc ?3 ¢ontinu¢d...
11."¢st IKirbi' Educa01] Tru$1 N•tos to ihe Flnanelthl SE4temenlS- eontinuod fur Ihe Year Endod 31 Augu.4t 2024 S£CURED DEBTS Thert is a fi.xed char8c hcld bv IVKRS Pension Sch¢me Trustw Liniitcd oi'cr ihc frcLhold lai)d held bv IVe$i Kirb>' Cducaiioi)al Trust. 18. IIOIEII IENT TIN, FUhT)S Nci mov¢n)eni in funds TrJnsf¢rs bcrwc¢n Ai 1.9.23 31.8.24 Unrtstri¢tcd funds Geiieral fund 10,599,448 589,418 9,297 11,198,163 Endoi)'Ineni funds ri1doi)¢1 I".uiid 114.263 21,066 (9,2971 12fj,032 TOTAL FUNDS 10,713.711 610.484 11,324,195 Ncl movcin¢ni in tunds. in¢luded in ili¢ abo%lt are as folloiys.. Incoiiiing risoiirc¢s Resour¢e5 exp¢iid¢il Gains diid 1015es in fLiThd Unr¢strlcttd funds G¢IrA1 fuijd 7,892,135 17,390,717) 88,000 589,418 Reslri¢te¢J fuiids ESFA Fundin$ 271,433 1271,4331 Endoii'mtnt fvnds Endoivmenl Furtd 9,296 1,770 21.Q66 TOTAL FUNDS 8,172,864 (7.662,150) 99,770 610,484 Cornpirutli'es for moiemeni In fund$ Transfers b¢nv¢cn lunds movcM1Lni in fvi)ds Ai 1.9.22 31.8.23 Unrestrlclcd funds Geiiernl fiind 125,297 2,520 10,599,448 Endoivment funds Liidoimcni Fund 112.917 3,866 (?,5201 114,263 TOTAI. FUN'DS 10.584.S48 1?9.163 10.713,711 PJ&?e ?4 ouILiiued...
I'e$1 l¥lrb!' Edu¢•tiort*l Trusi Notes to the Fin#nrial S¢#ternents- continued for the Y¢ar'Endcd 31 August 2024 18. .IIOI'ENIEYT IN FUNDS-tontinutd Coiiiparaiil'e Iiti n)oilCI)ILI)l iii funds, inLludLd in the abov¢ arc folloivs: Incuniing cwurces kesource< ¢¥P¥l)d¢d Goins and N.loi'emeni in Funds Unrestricted lund5 GLnLfdl fvnd fj,701.144 16.359.2471 (217.0001 125,297 Reslrict¢d funds CSFA Funding 344,6fy1 lJ44.664 > Endowm¢ni funds IndoiiThcrti Fuiid 2.521 3.866 TOTAL FUNDS 7.048,729 16,70i,9111 (21J,65.$1 129,163 A Cuen1 >ear 12 monihs prior year 12 monihs Lombined posiiiofi 15 as folloii's.. Truiisfcr beiivek'n mo¥en)eni in fuJi(L¥ Al 31.8.24 Ai 1.9.22 Unresiritiod fund$ G¢n¢ral fund 10.471.631 714,715 11.198,161 Endoivment fuNd5 Ettdowmeni Fund 112.917 24,932 126.032 TOTAL FUIYD.S 10,584,548 1,324,195 A tutTeni year 12 moliihs 4nd prior v¢ar 12 inonths conibinLd nei iiioi'eineiit in .[nds. ir1clud iii th¢ abts¥e are &4 follows.. Inconiing resourc¥5 Resthlrees .¥ndc1 Goins and 105ses Moiiemeni in fwid5 Unrc5tricted fund5 General fvnd 14,591,679 113,749.964) {129:0) 714,715 Rt4tri¢liYJ fund¥ FSFA Funding 616.097 (616.097 } Endoii'mertr lunds EndoiiThcni Fiind ?4.932 TOTèKL FUls'DS 15.??1.593 (14,366.0611 1115,8851 739.647 Pag¢ 2) ¢oniinu¢d..
Il'esi Klrbv EdueAtlonal Trust Notes to the Fin4nel#l Sitstrmeiits- coritlnued fèr the Yethr Ended 31 August 2024 18. ION ENIEN.T IIY FUPIDS - continurd Tlie School holds cndoii.'ments. Ihe mianent ¢lLTneni ol. Ivhich it is l¥gall)' Pfci'cnicd from SP¥nding and n1%1 r411141ill d> PJrt of IhL Schnal's capiial. Th¥ assci4 of Ihe enduiix)¢ni ar¢ inv¢51¥Trd in g CCLA, Colb Lhariiie5 In%'csttneni Fund. The income arising from thL assLlS of Ihc endentS is ai'ailabl¥ io lliLet IhL C.1[¢$ of ilic lchool. The gthool 1$ also in TCC¢iPI of cgpital fvndslgrants from Ihe Educaiiort and Skills Funding Agcncy. In linc with rcponin8 rcquiremcnis. Ihis inLUnlL' IS %hoivn ?11 Tt%¢ri¢lcd fijnds, i11h ihe ¢xpendiwr¢, Ihai mee1$ thc eonditions a550ciaied Ihc sr4n15. also allocjicd 10 Ihksc resiricicd lunds. J9. EmPLO1E BEWEFIT OBLIGATIONS Retircm¢nt B¢n¢fit$ The xhool op¢rai%s.a &.finid biii¢fil s¢licmc for emplo)'ee4 lexcludit)g teachin8 .4ialD, Ihe se15 of iithich •rt held in a separate tyusi¢c adminisi¥bred tiind. In May 2002 ihc schcmc ivas clogcd 10 Iicii, mcmbcrs. it) Jun¢ 2010 fuNr¢ wctNal c¢ased and in Januory 201 S Ihe pensiofiable link 10 finpl $alary )Isn ccased. An independent quJlificd a¢roary', in colluboraiioll 14'Lih Ihe Trnsices ol- Ihe pensioii sehcmc and ihL Scbool (¢niploy¢r), ¢al¢S Qui ali a¢11¥1 i'liluaiion of ihe >cheme cveTh' Ihrce y¢drs. Fvllowin¥ Ihe tr'uliiJlion, y recoY¢ry plan 15 agre bLNI'¢en ihi'frusices und Ihc School ITh ordcr io rnake good llny $hortfDII in Ihc 5cbeme'5 limding. Th¢ currcnl rrcovery pltsn wos uftcr th¥ valuuiion cDrri¥d oui as ai l April 2019. Th¢ fan(la1 figurc> r¢laiin8 10 thc schemi an¢J Tcllc¢i¢d in th¢sc accounts are wepar¢d under UK GAAP IFRS 1021 assumpiions and are revisLd annually. These assumprions. )Iihough sin)ilar. Jro dcrived in a diff¢rcni w?y to ihosc Li>ed for Ihe ii Lrniari41 valiidiion. The Jssumpiion for Ihe lrirnnial vthlLitsiivn bL'irt¥ K¢n¢rdlly pn¥J¥ni ihc GArtP 4ssumptions. Tea¢l)ing siaTr' arc members uf ih¢, dcfified bL'nefii Khcme op¢ricd by ihe Dcpartmcnl of Educalion. io ivhich the houl pays a fi.yed P¥rceiiiaBc of ieacheTr' pensioiiable pay, Ivhi¢h fully dihq& rges its liability 10 ihe ieicheT5' pcriiioii yLheiiiL'. The 5rhool iii place <lLfiiied Lnnirihiiiioi) .nN101} ¥cliLmi iirrJiigLiii¢iil¥ fur ull eiiiployccs iwi in Ili¢ Icaclicr¥' p¢ii$ion scli¢me. This is 8 siak'cholder pe175ion arrllngemeni Ihui al.%0 includes Il)e xliool'$ iuio-ertrolmeni PfOVlSlOn. Th¢ ioial Llmlribulioiis paid by IV¢si Kirby Educalion¥l Trusi for the p¢ritsd ¢nd 31 Augvsl 20?4 iv¢r¢ ll$ follolvs: ?023 2024 T¢acherfs Pension SiJk¢liolder Pension D¢ficii Pension Paymen15 151.4iO 84,387 ?40,000 1?0,918 8),806 ?40.000 475,837 446,724 Pen$loll Coinmitmciits SeLlion 28 of FRS 10? Eiiiploy¥e B¢néf115 fkquires pcdsion lund valiiaiions lu be iipduied ai each balJnce sheci dale. Thi fuiid valualion b¢en updat¢d by an )n&pendenl qiiilificd iittJlry'. on in FRS IOY basis. ds ill J l Ats¥usi 2024. P.Ige 26 conlinu¢d...
l'esi Klrbi. Edu¢•tional I'rust Notes to the Financithl StJtemellt$- ¢ontittued for the Year Endcd 31 .4ugv5t 2024 19. EfvIPLOYEE BEWI EFIT OBLIG,ITIONS- conilnutd The assumplioiis used by Ihc acium. arL the besi esiiTJ?31C5 chos¢ii from a rangc of posshblc actuarial 0s5umpiioiis. Ivhic.h. duL io Ilie iinies¢ak ¢oi'ered. moy noi borne our iii praciicL. Th¢ riiarkci vjluc of the s¢hemi'S asseis ¢it 31 AiigLlSi 2024. M,hich Irt noi inikndeil 10 b¥. r¢#lis¢d in ilw short ILmi nd n)ay bi $ubjeci 10 significaiii chaThg¢ bcforc Ih¥)' arc rcolised. and ihc prcsLni vtsluc of Ihc $cheni¢'$ liihbililie$ vhich Jre d¢rii'Ld from cash noiv PToje¢iions over long riodS and are ihus inherenily uncenain, ii'.erc.' 2024 2023 2022 Tl)L Aciuari11 vftlLl¢ of $.1131 Aii81I51 l-he aclii8rial valuK ofiiabiliiies ai 31 4.749.000 14:¥87,0001 4.684.000 5,618,000 {5,025,0001 15.870,0001 ProdueLs Jcluiirial dLfLCiI of 1138,0001 1341,000) {2i2.000) 'lie Jciuariil v)Iii¢ ofasseis repr¢s¢nt¥ 97.18ts/0 I202J.. 93.2190) of the actuuriTril linbiliiics. 'I'l)e ¥mounts reLogiiised in lh¢ Sioiemeni of Fin4nLinl Aclivilies llre as lolloivs.. Defincd benefit 31.8.24 31.8.23 Lurrenl sen'i¢¢ cosi Intes1 cost Past 5CtI'ice eos¢ Athninisiraiioii co$t$ I 4,000 8.000 I10,uoo 104,O¢JO 125,000 112,009 Actual rern on plan asscis 17.000) (821,000) Cliansp¢s iii Ilie pr¥brTri value ofilie dlfined b¢nefii ublignlion ore a5 folloii%'. Defiiicd benefit pciision pIAns 31.8.24 31.8.23 OpL'Jijiits d¥fincd bi*"iièfil i)blig4LIiu Interesl cosi Acluuridl Ius¥¥rJl¥aiiis Benelils paid 5,025.000 257.000 5.870.000 241,000 {821.0001 (265.0001 138S,000) 4.887,ono 5.0?5.000 Poge 27 confinucd...
Il'e51 Kirbv Educitional Trust .fyotes io ihe Flnanclil Siaiements- contlnued for ihe Ye&r End¢d JI Augu$¢ 2024 19. EMPLOI'EE BEN'EFITOBLIGATIONS- continu¢d Changcs in ihe fair 113lue 0fheie a.i$ci are as folloils.. Defined bencfii nsion plaiis 31.8.24 31.8.23 Opening fair iolue of scheme ae1$ Inirr¢bl illLuinL,IIos1 Contyibuiions by cmploycr Adminisiraiion ¢xpen5e$ Bfncfils pJid ReM on pl)n assets Ic.¥cluiiing inieresl inLome} 4.684.0(M) 242,¢)00 240.000 1110.OOOi I388.0 I 5.618.000 231,000 240.000 (104.000) 1265,000) 81.CA)O 11.038,0001 4,749.000 4,fiX4,nnn Thc amounis reL¢Jgiiised in oihLTrr iLCognid gli iiis DnJ 10s5es urc as follows.. Lk.fiiiLd beii¢fii pensioii pl?ns 31.8.24 31.8.23 Reillrn on plun assets (¥icludiii¥ inieresi in¢ome Aciuarial 8ains1(InssC8) 81,L)00 7,000 (1,038,OL)O) 821.000 88.000 (217,000) ' niajor caicgoric¥ of s¢hen)è asseis as a perc¢nta8¢ of ioial schem¢ a55els are as folloii.'s'. De)e beiiLfii pension plans 31.8 24 31.8.23 61.29Y. 24.26O/• 14.450/9 Cguiry, ra$h, propErtY & oih¢r Liiibilbiy (lrii'en ini'¢smienis Buy in polirv 15.33Y 100.ooo/. loo.0/) Paee ?8 conlint...
Wesi Kirby Edutjtionil Trust Not to theFlnanclal Statements- totttlnued for the Year Ended 31 August 2024 19. EMPLOYEE BEINEFIT OBLIC.ITIONS- tonllnucd Principal actuariol assuniwions al (lie Balaii¢¢ S1 daic (expwsscd as ¢Ighted av¢¥ag¢s)". 31.8.24 S.0/ 31.8,23 5.300/0 3.2/0 2.7/• 2.70D/• 0.50/ Discounl rntc Reiail prices indc.Y inllaiion Consumer prices indtx inflation Inflation linked increases in defemient GMP equalilIUn ii1loivce Inntstion linK¢iJ incretyses in paymerjt Pr¢ l Apnl 2006 Monality after reiiremeni Inflaiion link'ed in¥reas¢s in payment Posi J l March 2006 2.65Qh 0.SOOA 3.00% IOOYO 2.50Yo 2.55Q/o Thi nwfvliiy Th1¢5 are Imse rates in aciordanLe wilh ihc S3PMA and S3PFA iables publi$lie<l bv ihe AciLiarial profession. An nlloivftnLe hThs b£¢n ii)ade for fiItLir¢ improvcmcnl¥ in longcvirv in D¢cord*lnCC ii'iih thc mcdiiiin colwrt effect iviih 47 mininiLim anniial inLrease or itndLrpii? of1.25°h for boih nien and ivonien. Lot)yeviiy for ciirrei)I peiisionets, a¥ed 65: 20?4 2023 Men Women 21.4 ycors 23.9 ytnrs 21.5 years 23.9 ye11 rs LgnBeviry ai age 65, for fvftire p¢nsioners now agre¢d 45.. 2024 2023 Men Women 22.6 ycors 25.3 yeirs 22.7 v¢ars 25.3 years The folloivins asswnptions have been made and are in line wilh th¢ pievious year.,. There ha$ bren ho all0nce made for cash commuiJiion. Mernbcrs ar¢ suM¢d io rctir¢ at 63 for bcncfiis accnKd prior io l April 2005 with bcnefilS a¢crn¢d duting the 'barber ivindoiv, payiible ai age 60 unreduied. Menibers are as511med 10 retire at 08e 65 for bcn¢fi15 Jccrned ttti¢r 31 M)r¢l? 2005. It 15 J5iltmed th1 75'h of n11tr$ at rflirenient will be illaled or have ali earlier death whilst the wives ar¢ estimaied ro be 3 yetsTS ywng¢r. Futsre fundlng obligatig11 Tlie Truslees afe required lo ¢arry oul an actuarial valuaiioii f I'¢ry 3 y¢0. Tli¢ niosi rcLriil u¢luuriJl Val11n of the Plan ivtis perfomied by tht Scheme Achjary for the Trusiees at l April 20?? Ivhieh concluded on a continuation of the plan fir51 enic cied in 2019. The valikaiion in 2022 reveic led a fijnding shortfall of.£8?0,000. To remove ihbs shortfall: Ihe SLhool agTccd to pav coi)Iriburions follow$'. Ji?Jiual coiiiribulkons of £140,01)O payablt monthly in arrcttrs ovcr thc PCTiod I Septemr 2022 to 31 Ma 2028. Pag¢ 29 conrinii¢d...
Ivesi Kirbi. Edu¢4liortol Trust P4otes to the Flnan¢lal Statemenii- ¢ontinu¢d ror the Ycnr Ended 31 Augu.It 2024 19. EITrlPLOI'EC BE:NEFITOBLIGATIOIYS- ¢on(inued In addiiiori. io co¥'er Ihe oiisioing cxpen8ci of ruiining ih¢ plan, Ilie school agreLd .10 L100,000 per annum over the sanic period.1 scpremy 20?? to 31 Moreh 20?8. Th¢ scliool has rt)ad¥ lh¢ r¥'lci'aThi povnK'nis for the p¢110n of £140.Cthl £100.000 for Ihe y¢ur ¢nd J I AIL¥USI ?0?4. The iolal pa>inents Tclaling to Ihe ntrLninB exp¥nss ol. ihe plthn of E100.000 ttsD be found in lh¥ Staiement Of Financial Aciii'iii¢5 Il'iihin S¢l)ool pension5 cosl. M,hirl) includcs Ilic oihcr rclaicd p¢niion COS¢> bULh Js iniif¢bl. Th¢ .E140,000 annual conribiiion is includcd iyithin Ihe liibility ill the Bilonce 5heei. Going forn'ard, the school asaio ¢xpects lu pd>, £240.000 Jiirinb lh< deCOUAlin¥ yeur cndiD¥ il AugLk51 2025. olihough lh¢ actuari•l v11uaiion 21 AuEu51 20241 i& rurrcnily undcnvav und o ncii, Schedul¢ of Cunribulions niay bc ll&¢¢d. oj ui this doiK no diff¢r¢iiLC in ihe ciirreni ¢oniribiiiions imoiiftis is known. 20. REL.4TED PIIRTY DISCLOSiIRES Ther¢ M'ert no rtlaied party Iransaciions for Ihe year end¢d 31 Aii¥usi 2024, Page 30