REGISTERED COMPANY NUMBER: 01221853 (England and Wales) REGISTERED CHARITY NUMBER: 270158 

REPORT OF THE TRUSTEES AND 

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 

FOR 

GRANGE ROSE HILL SCHOOL LIMITED 

BSR Bespoke Chartered Accountants Registered Auditors Linden House Linden Close Tunbridge Wells Kent TN4 8HH 



GRANGE ROSE HILL SCHOOL LIMITED 

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 August 2024 

||Page|
|---|---|
|Report of the Trustees|1 to 8|
|Report of the Independent Auditors|9 to 12|
|Statement of Financial Activities|13|
|Balance Sheet|14|
|Cash Flow Statement|15|
|Notes to the Cash Flow Statement|16|
|Notes to the Financial Statements|17 to 26|





GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

REPORT OF THE TRUSTEES for the year ended 31 August 2024 

TheGovernors(whoarethetrusteesof thecharityfor thepurposesof thecharitiesactandthedirectorsof the  charitable companyfor the purposesof the CompaniesAct) presenttheir annualreport togetherwith the audited  financial statementsof GrangeRoseHill School Limited (the charitablecompany)for the year ended31 August 2024.  The Governorsconfirm thattheAnnualReportandfinancialstatementsof thecharitablecompanycomplywith the  current statutoryrequirementsandgive a true andfair view of the charitablecompany'saffairs asat 31 August2024,  having been properly preparedin accordancewith United Kingdom Generally Accepted Accounting Practice and the requirements of the Companies Act 2006. 

## OBJECTIVES AND ACTIVITIES 

## Policies and objectives 

The Objectsof thecharitablecompany,assetout in theMemorandumandArticles of Association,areto promote and providefor theadvancementof education,in particularfor theeducationof childrenandto supplyto thepupils  general instruction of the highest class together with physical, moral and religious training. 

## Strategies for achieving objectives 

In thespirit of ourschoolaimswework hardto provideeachchild with alearningexperiencewhichis oneof  aspiration, adventure and achievement in a nurturing, caring school. Working with integrity our pupils will: 

- be inspired to develop confidence to thrive in all areas of our rich curriculum. 

- foster the skills and talents which enable them to organise their learning and plan to achieve success. 

- demonstrate persistence to flourish in the face of challenge. 

- show resilience and learn from difficult situations. 

- get along with others, work collaboratively and accept everyone. 

RoseHill School aims to offer the highestquality of teachinglearningand supportto all pupils in the pursuit  of academicandpersonalexcellence.We havehigh expectationsof all of our pupilsandwe striveto ensurethateach and every pupil can take part in the whole school curriculum and be the best versions of themselves. 

In forming our objectivesandoverall policiesfor the Schoolthe Governorsaremindful of the Charity  Commission's guidance on public benefit. 

## Activities for achieving objectives 

While continuingto fulfil the aimsdefinedabove,the main focusof our objectivesfor the yearweredefinedin our SchoolDevelopmentPlan.Whilst thePlancoversthecompletespectrumof theobjectivesof theSchool,themain focus for the year was to: 

- actively promote pupils' well-beingimprove pupil's ability to study effectively, integrating higher order thinking skills for pupils; 

- build on and strengthen our bespoke curriculum, Compass; 

- further develop a culture of openness and self-reflection and frequently share good practice for pupils; 

- identify pupils' intelligences, including Gifted & Talented pupils and potential scholars and track progress; 

- - ensure pupils are fully extended through the curriculum and provide additional interventions/support where necessary; 

- increase pupils' knowledge, understanding and skills when using different forms of technology; 

- - continue to develop use of the woods in Pre Prep & Prep School - greater use of new Outdoor Classroom to provide an alternative learning environment; 

- review the Creative Curriculum to ensure depth of learning is achieved in all subjects; 

- further develop STEAM opportunities; 

- continuously review clubs and range of activities; 

- enrich the learning opportunities and develop the curriculum for Years 7 & 8; 

- maintain our revenue streams by letting the pool and other facilities to third parties; 

- continue expenditure on our ICT development plan, with particular focus on increasing use of tablet devices. 

Themanagementteamandgoverningbodyfocussedon a strategyto continueto developandenhancethehigh level  of education and care provided by the school. 

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GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

## REPORT OF THE TRUSTEES 

## for the year ended 31 August 2024 

## OBJECTIVES AND ACTIVITIES 

Main activities undertaken to further the school's purposes for public benefit 

We continueto makeour buildingsandgroundsavailableto local andnationalorganisations.In thepastyearthese have included: 

- Catherine Bellinger School of Dance; 

- Bishops Down Primary School; 

- Tunbridge Wells Warriors Netball Club; 

- Tunbridge Wells Operatic and Drama Society; 

- Local businesses for their own charitable activities; 

- Concerts Originaux des Amis (Tunbridge Wells). 

Our swimmingpool is madeavailableto BishopsDown PrimarySchool,our neighbouringprimaryschool,on a  weekly basisand our other facilities suchas sportshall, astropitch, playing fields, Sciencelaboratoryand theatreare  also available if required. 

Our staff andseniormanagementteamareencouragedto undertakevoluntaryandcharitablework. In thelastyear this has included: 

- a member of staff is the nominated safeguarding Governor at local primary school; 

- a member of staff is a co-opted governor at a state primary school in East Sussex; 

- a member of the senior management team is a director of the charity iTrust; 

- a member of the senior management team is a trustee of a city-based foundation providing grants to organisations for charitable purposes. 

Communityandsocietysupportis animportantpartof life at RoseHill School.Duringtheyearour pupilsraiseda  total of £2,788(2023:£2,843)supportinga numberof differentcharitiesincludingComicRelief,Childrenin Need,Save the Children,Little PrincessTrust,St John'sChurchandProjectWaterfall.Overthepreviousfive yearsa total of £11,294 has been raised for various local, national and international charities by the pupils at Rose Hill School. 

We continue to widen access to the School through means tested bursaries, which are kept under close review. 

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GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

## REPORT OF THE TRUSTEES 

for the year ended 31 August 2024 

## STRATEGIC REPORT Achievement and performance 

## Key financial performance indicators 

Themainkey financialperformanceindicatorfor theyearis pupil numberswhichremainrelativelyconstantalbeit  with some inevitable year on year fluctuation. 

The Governorsareof the opinion that the net book valueof the freeholdland andbuildings,shownin the accounts at £6,355,792(2023: £6,539,938),are worth more than that figure but the exact value cannotbe determined without professional valuations. 

## Review of activities 

The charityprincipally provideseducationfor day pupils betweenthe agesof 3 and13 in TunbridgeWells. This  year pupil numbers averaged 244. 

This academicyearat RoseHill Schoolhasbeenfilled with exceptionalachievementsandmemorablemoments across all areasof learning,arts,music,drama,andsports.Our pupilshavedemonstratedoutstandingdedication, perseverance, and talent, and their successesare a testamentto their hard work and the unwaveringsupportof our entire  school community. 

A central themethis year has beenthe importanceof pupil voice. Our School Council has led several initiatives, includingComicRelief, ShoeboxAppeal,Childrenin Need,anda mockGeneralElection.Theyhaveraisedfunds for the Little PrincessTrust, starteda girls' football club, suggesteda quiet areafor staff andpupils andcollectedfor St Matt's Food Larder. 

Our pupils haveexcelledacademically,showcasingtheir thirst for knowledgeanddeterminationto succeed.The  year hasbeenmarkedby outstandingresultsin both the 11+ and13+ exams.Our uniqueCompasscurriculum,designed to preparepupils for the demandsof educationandemploymentin the 21stcentury,hasprovensuccessful.Year 8 final assessmentswereparticularly impressive,with everypupil surpassingexpectationsand earningcommendable results and scholarships. 

In therealmof art,ourpupilshaveproventhemselvesto bevisionarycreators.Fromintricatecavepaintingsto  delicious food sculptures,their artwork has enrichedour lives with beautyand meaning.Highlights include a breathtaking exhibitionat the ChristmasFair andexceptionalentriesin the HouseArt Competitionwith the themeof 'food.'  Pupils' artistictalentshavealsobeenrecognisedin theIAPS iArt competition,theRA YoungArtist'sSummerexhibition,and a SKY TV competition.Notably,five SeniorArt Scholarshipswereawarded,andwe receiveda persona **l** etterof thanks from King Charles II for the celebratory Coronation clay tile mural displayed in PrePrep. 

The school has been alive with the sound of music thanksto our pupils' remarkabletalents.Our choir had the opportunityto performin prestigiousvenuesin Belgium,andRoseHill Schoolbecamethefirst Prepschoolto  organise the IAPS and iTrust Festival of Singing, bringing together16 Prep Schoolsfrom acrossKent. The festival was  a resoundingsuccess,with electrifying and hauntingperformances.Throughoutthe year,the musicdepartment created memorablemoments,including assemblies,nativities,the Carol Service,and the HouseSongCompetition.We also hosted an Orchestral Workshop and a Massed Singing Festival, bringing together 650 pupils from local primary schools. 

Our pupilshavedazzledaudienceswith their dramaticflair andtheatricalbrilliance.This yearsawtheMiddle School's enchantingproductionof 'ShrekJr', while the seniorpupils wowedus with their captivatingperformanceof 'Singin'  in theRain.'Their stagepresence,charisma,andcommitmen **t** o their craft transportedusto newworldsandleft usin awe. Through their performances, they entertained and challenged us to see the world from new perspectives. 

In sports,our pupils haveachievedremarkablesuccess.Highlights includea RegionalFencingSilver Medallist,  four medallistsat the IAPS RegionalAthletics, and representationat the IAPS National Athletics. Our pupils excelled in varioussports,includingcricket,football, netball,hockey,andskiing.Their athleticprowessandcompetitivespirit  led to numerous victories and personal bests, instilling a sense of pride and camaraderie in our school community. 

Page 3 



GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

## REPORT OF THE TRUSTEES 

for the year ended 31 August 2024 

Teachingphilanthropicvaluesis paramountat RoseHill School.This year,theYear6 philanthropyproject highlighted theimportanceof understandingprivilegeandgiving backto society.Our philanthropicendeavoursincluded collecting and redistributing pre-loved items, rewilding areasto createwild meadows,and raising over £1,000 for Project Waterfallto supporta schoolin Addis Ababa.Our pupilsalsoengagedin projectsadvocatingfor environmental action and protection. 

Our achievementswould not havebeenpossiblewithout theunwaveringsupportof our parentsandthebroader school community.Eventsorganisedby theParents'Association,suchasthesummerball, raisedsignificantfundsto  enhance our pupils' learningandenjoyment.The refurbishmentof the InnovationHub andthe abundanceof outdoor  learning equipment are direct results of this community spirit. 

Residentialtrips takingplaceduringtheyearincludedthewell-attendedchoir tour to Belgiumin October2023in which pupilsparticipatedin two concertsalongwith experiencingvariousexhibitionsandexcursionsandamulti activity  centre in Norfolk for the Y6 pupils. 

Whilst we pride ourselveson our academicexcellence,we also recognisethe importanceof delivering  high-quality charactereducation,andsupportingour pupils'overall wellbeingthroughour 5 Keysto successandhappiness. Pupils havetheopportunityto takepartin a varietyof co-curricularactivities,rangingfrom Art Club,SewingClub, Rainbows, Brownies,Cubs & Scoutsand a variety of sportsclubs, encouragingour pupils to meetnew people,explore  new interests, and develop important skills such as inclusion. 

## Investment policy and performance 

The Governorsregularlyreview the school'sfinancesandspendagainstbudget.This continuesto be essential against the political and financial climate faced by the independent schools' sector. 

Our policy is to maintain our financial stability and to continuewith improvementsto School facilities to ensure excellent teaching facilities for our pupils. 

## Factors relevant to achieve objectives 

Performanceis monitoredby usingreportsto theCouncilcombinedwith GovernorsandSchoolworkingto improve and updateall aspectsof thefunctionsof theSchool.This is facilitatedby our DevelopmentPlanwhich,while  identifying, also monitors the enhancementsin curriculum, pastoralcare,buildings and grounds,humanresources, governance, management,marketing, policies and financial resources.In the process it addressestime scales, costs and implementation. 

## Financial review 

## Principal funding sources 

TheSchoolhasno endowmentsor accessto fundsotherthanits incomefrom fees.During theyear,4.0%(2023: 6.4%) of grossfeeincomewasmadeavailableasallowancesfor feeswhich includedscholarships.As theSchoolis a  charity, theparentsof our pupilshavetheassurancethatall incomemustbeappliedfor educationalpurposes.As an  educational charity we claim exemptionfrom corporationtax on our educationalactivitiesandour investmentincomeand  gains, provided these are applied to our charitable aims. 

## Material investments policy 

The School is empoweredto invest moniesnot immediatelyrequiredfor its purposein or upon such  investments, securities or property as may be thought fit and within the law. 

## Reserves policy 

The 'reserves'or unrestrictedfundsat the balancesheetamountedto £5,538,571(2023: £5,461,708).Becauseof the nature of the school'sassetstructure,the school does not have any 'Free' Reserves(as defined by the Charity Commissionguidance).Themainfocusof theschoolhashistoricallybeento maintaina policy of improvingthe fabric and facilities of the school buildings from operationalpositive reserves(ie the limited reservesthat arise from operational surpluses). 

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GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

## REPORT OF THE TRUSTEES 

## for the year ended 31 August 2024 

## STRATEGIC REPORT 

## Financial review 

## Going concern 

After makingappropriateenquiries,theGovernorshavea reasonableexpectationthattheSchoolhasadequate resources to continuein operationalexistencefor theforeseeablefuture.For this reason,theycontinueto adoptthegoing  concern basisin preparingthe financial statements.Furtherdetailsregardingthe adoptionof the going concernbasiscan  be found in the accounting policies. 

## Principal risks and uncertainties 

During the financial yeara changein Governmenthasled to the introductionof VAT on independentschoolfees  to comeinto effect from 1 January2025.This issue,togetherthe removalof the charitablebusinessratesrelief and  the increasein EmployerNationalInsurancecostswill havean impacton the schoolfinanceseitherdirectly or indirectly. TheGovernorshavebeenawareof, andhavebeenconsidering,thelikelihood of theserisksoccurringfor sometime.  A strategycommitteeis in place,supportingtheexistingFinancialandGeneralPurposeCommittee,thatreviews broader strategic risks of this nature and considers mitigating strategies. 

The Governorsare satisfiedthat the major risks identified have beenadequatelymitigated where necessary.It is recognised,however,that systemscanonly provide reasonablebut not absoluteassurancethat major risks have been adequately managed. 

## Financial and risk management objectives and policies 

The Governorsareresponsiblefor themanagementof therisksfacedby theSchool.Risksareidentifiedand  assessed, andcontrolsestablishedthroughouttheyear. A formal reviewof thecharity'srisk managementprocessesis  undertaken on a termly basis and documented in a Risk Management Matrix. The key controls used by the charity include: 

- formal agendas for all committee meetings; 

- detailed terms of reference for all committees; 

- comprehensive strategic planning, budgeting and management accounting; 

- established organisational structure and lines of reporting; 

- formal written policies; 

- clear authorisation and approval levels; 

- vetting procedures as required by law for the protection of the vulnerable. 

The Schoolmaintainsa scheduleto instigate,reviewandupdatepolicies.Theseincludeour approachon accessin our Admissions Policy and our Equal Opportunities Policy all of which can be viewed on the School website. 

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GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

## REPORT OF THE TRUSTEES 

for the year ended 31 August 2024 

## STRATEGIC REPORT 

## Future developments 

Theseareprimarily definedin theDevelopmentPlanthatidentifiesandmonitorstherequirementsandimprovements to bemadeto theSchool.ThePlanis updatedannuallyin a processthatencompassesinputfrom all areasof theSchool. It is reviewedregularlyby theGovernorsandapprovedat their meetingin November.Our priorities for thecoming year are: 

- continue to embed, recently relaunched as 'Compass' (previously named Curriculum 2020) planning and assessment, ensuring that pupils are given the opportunity to acquire and apply knowledge using higher order thinking skills; 

- continue to develop the use of outdoor spaces, in particular the woodland and outdoor classroom to create an alternative learning environment, for example to incorporate the 'forest school' activities into Woodland Club; 

- - further embed the use of technology as a tool for learning and developing pupils' independence as learners, inclusive of EYFS; 

- embed the use of new technology in everyday practice, ensuring that the use of iPads and other technologies are enhancing and enriching the educational experience and opportunity for all pupils; 

- embed the Equality, Diversity and Inclusion (EDI) policy throughout the school; 

- maintain our good reputation and pupil roll to ensure continued stability and future development; 

- produce clear statements of expectations in Behaviour policy with clear guidance for teachers as well as pupils; 

- - ensure that the link between academic and pastoral tracking is monitored carefully; 

- continue expenditure on our ICT development plan, with particular focus on increasing use of tablet devices; 

- - continue to support the Eco-committee/club in working towards Eco-school status; 

- establishing a strategy to continue to develop and enhance the high level of education and care provided by the School; 

- - strategically and appropriately increase pupil numbers on role. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document 

The charity is controlledby its governingdocument,a deedof trust, and constitutesa limited company,limited by guarantee, as defined by the Companies Act 2006. 

## Charity constitution 

RoseHill School(theSchool)wasfoundedin 1832andcontinuesto operateunderthis name.It wasincorporatedas a companyunder companyregistrationnumber1221853on 17 July 1975 as GrangeRoseHill School Limited and registered with the Charity Commission under charity number 270158 on 10 October 1975. 

The Governorsform the Council of Management(the Council) which governsthe School.They are directorsof the Companyfor thepurposesof theCompaniesAct andcharitytrusteesfor thepurposesof theCharitiesAct. Members of the Council during the year underreview are listed on page7 togetherwith the executiveofficers and  professional advisersto thecompany.In accordancewith theArticles of Association,onememberof theCouncilwasappointed, Mr Nick Mills (March 2024). GrangeRoseHill SchoolLimited is a companylimited by guaranteeand without a share capital.It is governedby its MemorandumandArticles of Associationdated17 July 1975 andlast amendedin June 2004. 

## Method of appointment or election of governors 

PotentialGovernorsare identified by currentGovernorsor the ExecutiveOfficers on the basisof particular  skills, personalreputationandcompetenceand,wherepossible,an existingcommitmentandsupportiveattitudetowards the School.Governorsareelectedto theCouncilof Managementat Councilmeetingsfollowing interviews,combined with meetings to discuss and instruct potential candidates of the responsibilities and duties involved. 

## Organisational structure and decision making 

TheCouncilof Managementmeetsat leastthreetimesa yearandis responsiblefor thedeterminationof general policy andoverallmanagementof theSchool.Day to daymanagementis delegatedto theHeadfor academicmanagement and to the Bursarfor administrativemanagement.The Council is supportedby four subcommittees:Financeand General Purposes;Academic& CurriculumandWelfare,Child Protection& SafeguardingandHealth& Safety. Formulation and review of policies is delegated by the Council to the sub committees who report back to the Council for ratification. 

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GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

## REPORT OF THE TRUSTEES for the year ended 31 August 2024 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Policies adopted for the induction and training of Governors 

Governorsare inductedinto the working of the Council on the basisof a comprehensiveGovernors'Handbook and attendanceat organisedworkshopsandseminarsrun by the Associationof GoverningBodiesof Independent Schools (AGBIS). Governors regularly visit the school to see it in action and spend time with pupils and staff. 

## Key management remuneration 

TheGovernorsconsiderthattheytogetherwith theHead,Bursar,AssistantHead(Pastoral),AssistantHead (Operation), AssistantHead(Academic)comprisethe key managementpersonnelof the school.The pay and remunerationof the Head and senior staff is set by the Governors and is kept under annual review. 

Key managementpersonnelare consideredto be individuals who have authority and responsibility for planning, directingandcontrolling the activitiesof the School.Total remunerationin respectof theseindividualswas  £466,859 (2023: £339,659). 

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01221853 (England and Wales) 

Registered Charity number 270158 

Registered office Coniston Avenue Tunbridge Wells Kent TN4 9SY 

## Trustees 

|Trustees|||
|---|---|---|
|C J Scott|Ex-Headmistress||
|N D Phillips|Barrister||
|J D Saunders|Accountant||
|D L Brockman|Retired||
|L S Keatley|Solicitor||
|A Kiernan|Solicitor||
|J H McNeil|Teacher||
|N Powell|Retired||
|J Williamson|Vice President, a Dow Jones Company||
|G E Taylor-Hall|Deputy Head||
|N Mills|Assistant Head (Boarding)|(appointed 8.3.2024)|



Company Secretary M A Bryan 

## Auditors 

BSR Bespoke Chartered Accountants Registered Auditors Linden House Linden Close Tunbridge Wells Kent TN4 8HH 

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GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853) 

## REPORT OF THE TRUSTEES 

for the year ended 31 August 2024 

## REFERENCE AND ADMINISTRATIVE DETAILS 

## Solicitors 

Cripps Pemberton Greenish 22 Mount Ephraim Road Tunbridge Wells Kent TN4 8AS 

## Bankers 

Lloyds Bank plc Tunbridge Wells Kent TN1 1RP 

## STATEMENT OF TRUSTEES' RESPONSIBILITIES 

The trustees(who are also the directorsof GrangeRoseHill SchoolLimited for the purposesof companylaw) are responsiblefor preparingtheReportof theTrusteesandthefinancialstatementsin accordancewith applicablelaw  and UnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccountingPractice)including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". 

Companylaw requiresthetrusteesto preparefinancialstatementsfor eachfinancialyearwhichgivea trueandfair view of the stateof affairs of the charitablecompanyandof the incomingresourcesandapplicationof resources, including the incomeand expenditure,of the charitablecompanyfor that period. In preparingthosefinancial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

Thetrusteesareresponsiblefor keepingproperaccountingrecordswhichdisclosewith reasonableaccuracyat any time thefinancialpositionof thecharitablecompanyandto enablethemto ensurethatthefinancialstatementscomply  with theCompaniesAct 2006.Theyarealsoresponsiblefor safeguardingtheassetsof thecharitablecompanyandhence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## AUDITORS 

The auditors,  BSR Bespoke, were re-appointed at the Annual General Meeting. 

Reportof the trustees,incorporatinga strategicreport, approvedby order of the board of trustees,as the company directors, on 19 March 2025 and signed on the board's behalf by: 

N Powell - Trustee 

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GRANGE ROSE HILL SCHOOL LIMITED 

## Opinion 

We haveauditedthe financial statementsof GrangeRoseHill SchoolLimited (the 'charitablecompany')for the  year ended31 August 2024 which comprisethe Statementof Financial Activities, the BalanceSheet,the Cash  Flow Statementandnotesto the financial statements,including a summaryof significantaccountingpolicies.The  financial reporting frameworkthat has beenapplied in their preparationis applicablelaw and United Kingdom Accounting Standards(UnitedKingdomGenerallyAcceptedAccountingPractice),includingFinancialReportingStandard102  'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 

- In our opinion the financial statements: 

- give a true andfair view of the stateof the charitablecompany'saffairs asat 31 August2024 andof its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- havebeenproperlypreparedin accordancewith UnitedKingdomGenerallyAcceptedAccountingPractice, including FinancialReportingStandard102 'TheFinancialReportingStandardapplicablein theUK andRepublicof Ireland'; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## Basis for opinion 

We conductedour auditin accordancewith InternationalStandardson Auditing (UK) (ISAs (UK)) andapplicable law. Our responsibilitiesunderthosestandardsare further describedin the Auditors' responsibilitiesfor the audit of the financialstatement **s** ectionof our report. We areindependentof thecharitablecompanyin accordancewith the ethical requirementsthatarerelevantto our auditof thefinancialstatementsin theUK, includingtheFRC'sEthical  Standard, andwehavefulfilled our otherethicalresponsibilitiesin accordancewith theserequirements.We believethatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

In auditingthefinancialstatements,wehaveconcludedthatthetrustees'useof thegoingconcernbasisof accounting in the preparation of the financial statements is appropriate. 

Basedon thework wehaveperformed,wehavenot identifiedanymaterialuncertaintiesrelatingto eventsor  conditions that,individually or collectively,maycastsignificantdoubton the charitablecompany'sability to continueasa  going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

We drawyour attentionto Note 2 of thefinancialstatements,which concludesthatthetrusteesconsiderthe  charitable company to be a going concern. 

Our responsibilitiesandthe responsibilitiesof the trusteeswith respectto going concernaredescribedin the  relevant sections of this report. 

## Other information 

The trusteesareresponsiblefor theotherinformation.The otherinformationcomprisestheinformationincludedin  the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statementsdoesnot cover the other information and, exceptto the extent  otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connectionwith our auditof thefinancialstatements,our responsibilityis to readtheotherinformationand,in doing so, considerwhetherthe other information is materially inconsistentwith the financial statementsor our knowledge obtainedin the audit or otherwiseappearsto be materiallymisstated.If we identify suchmaterialinconsistencies or apparentmaterialmisstatements,we arerequiredto determinewhetherthis givesrise to a materialmisstatementin the financial statementsthemselves.If, basedon the work we have performed,we concludethat there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## Opinions on other matters prescribed by the Companies Act 2006 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Report of the Trusteesfor the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GRANGE ROSE HILL SCHOOL LIMITED 

## Matters on which we are required to report by exception 

In thelight of theknowledgeandunderstandingof thecharitablecompanyandits environmentobtainedin thecourse of the audit, we have not identified material misstatements in the Report of the Trustees. 

We havenothingto reportin respectof thefollowing matterswheretheCompaniesAct 2006requiresusto reportto  you if, in our opinion: 

- adequateaccountingrecordshavenot beenkept or returnsadequatefor our audit havenot beenreceived from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## Responsibilities of trustees 

As explainedmorefully in the Statementof Trustees'Responsibilities,the trustees(who are also the directorsof the charitablecompanyfor thepurposesof companylaw) areresponsiblefor thepreparationof thefinancialstatements and for beingsatisfiedthattheygive a trueandfair view, andfor suchinternalcontrolasthetrusteesdetermineis  necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparingthe financial statements,the trusteesare responsiblefor assessingthe charitablecompany'sability to continueas a going concern,disclosing,as applicable,mattersrelatedto going concernand usingthe going  concern basisof accountingunlessthetrusteeseitherintendto liquidatethecharitablecompanyor to ceaseoperations,or have no realistic alternative but to do so. 

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GRANGE ROSE HILL SCHOOL LIMITED 

## Our responsibilities for the audit of the financial statements 

Our objectivesare to obtain reasonableassuranceabout whetherthe financial statementsas a whole are free  from materialmisstatement,whetherdueto fraudor error,andto issuea Reportof theIndependentAuditorsthatincludes our opinion. Reasonableassuranceis a highlevel of assurance,but is not a guaranteethatanauditconductedin  accordance with ISAs (UK) will alwaysdetecta materialmisstatementwhenit exists.Misstatementscanarisefrom fraud or error and are consideredmaterialif, individually or in the aggregate,they could reasonablybe expectedto influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- The form and content of the financial statements, FRS 102, Charities SORP (FRS 102), Companies Act 2006 and Charities Act 2011, 

- The Education Regulations 2014, 

- Keeping Children Safe in Education under section 175 of the Education Act 2002, 

- UK Employment Law, and 

- UK General Data Protection Regulation (UK GDPR). 

We gatheredan understandingof how the entity is complyingwith the aboveframeworksby enquiringand observing managementand thosechargedwith governance,ensuringthere is a culture of honestywith an emphasison fraud prevention which may reduce opportunities for fraud to occur as well as acting as a deterrent. 

We assessedthe susceptibility of the financial statementsto material misstatementdue to fraud, by making  an assessmentof thekey fraudrisks,themannerin which anysuchrisksmaymaterialise,our knowledgeof theclient  and an assessment of the current business environment. 

We designedour audit proceduresto identify non-compliancewith suchlaws and regulations.Where the risk was consideredto be higher, we performedadditional audit proceduresto addresseachidentified fraud risk to obtain reasonable assurance that the financial statements were free of fraud or error. 

We addressedtherisk of fraudthroughmanagementoverrideof controlsby testingtheappropriatenessof journal  entries and identifying any significant transactions that were unusual or outside the normal course of business. 

Thereareinherentlimitationsin theauditproceduresdescribedabove,therisk of not detectinga material misstatement due to fraud is higher than the risk of not detectingone resulting from error, as fraud may involve deliberate concealment.The primary responsibilityfor the preventionand detectionof fraud restswith managementand  those charged with governance. 

A furtherdescriptionof our responsibilitiesfor theauditof thefinancialstatementsis locatedontheFinancial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities.This description forms part of our Report of the Independent Auditors. 

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GRANGE ROSE HILL SCHOOL LIMITED 

## Use of our report 

This reportis madesolelyto thecharitablecompany'smembers,asa body,in accordancewith Chapter3 of Part16  of the CompaniesAct 2006. Our audit work has beenundertakenso that we might stateto the charitable company's membersthosematterswe arerequiredto stateto themin an auditors'reportandfor no otherpurpose.To the  fullest extentpermittedby law, wedo not acceptor assumeresponsibilityto anyoneotherthanthecharitablecompanyand the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

STEPHEN POCOCK (Senior Statutory Auditor) for and on behalf of BSR Bespoke Chartered Accountants Registered Auditors Linden House Linden Close Tunbridge Wells Kent TN4 8HH 

2 May 2025 

Page 12 



GRANGE ROSE HILL SCHOOL LIMITED 

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 August 2024 

|Notes<br>INCOME AND ENDOWMENTS FROM<br>Charitable activities<br>5<br>Educational<br>Other trading activities<br>3<br>Investment income<br>4<br>Total<br>EXPENDITURE ON<br>Raising funds<br>6<br>Charitable activities<br>7<br>Educational<br>Welfare<br>Establishment<br>Support<br>Governance costs<br>Total<br>NET INCOME<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>TOTAL FUNDS CARRIED FORWARD|31.8.24<br>Unrestricted<br>fund<br>£<br>3,627,403<br>240,683<br>10,857<br>3,878,943<br>20,382<br>2,063,816<br>202,016<br>897,443<br>608,123<br>10,300<br>3,802,080<br>76,863<br>5,461,708<br>5,538,571|31.8.23<br>Total<br>funds<br>£<br>3,464,984<br>264,511<br>2,321<br>3,731,816<br>37,124<br>2,120,762<br>170,354<br>836,049<br>503,766<br>10,500<br>3,678,555<br>53,261<br>5,408,447<br>5,461,708|
|---|---|---|



The notes form part of these financial statements 

Page 13 



**GRANGE ROSE HILL SCHOOL LIMITED (REGISTERED NUMBER: 01221853)** 

## **BALANCE SHEET 31 August 2024** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>14<br>**CURRENT ASSETS**<br>Stocks<br>15<br>Debtors<br>16<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>17<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**CREDITORS**<br>Amounts falling due after more than one year<br>18<br>**NET ASSETS**<br>**FUNDS**<br>21<br>Unrestricted funds<br>**TOTAL FUNDS**|**31.8.24**<br>31.8.23<br>**Unrestricted**<br>Total<br>**fund**<br>funds<br>**£**<br>£<br>**6,682,089**<br>6,855,099<br>**42,525**<br>45,677<br>**690,129**<br>889,727<br>**1,191,878**<br>299,520<br>**1,924,532**<br>1,234,924<br>**(1,812,570 )**<br>(1,585,392 )<br>**111,962**<br>(350,468)<br>**6,794,051**<br>6,504,631<br>**(1,255,480 )**<br>(1,042,923 )<br>**5,538,571**<br>5,461,708<br>**5,538,571**<br>5,461,708<br>**5,538,571**<br>5,461,708|
|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 19 March 2025 and were signed on its behalf by: 

N Powell - Trustee 

The notes form part of these financial statements 

Page 14 



## **GRANGE ROSE HILL SCHOOL LIMITED** 

## **CASH FLOW STATEMENT for the year ended 31 August 2024** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Interest paid<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash used in investing activities<br>**Cash flows from financing activities**<br>Repayment of borrowings<br>Net cash used in financing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|**31.8.24**<br>**£**<br>**1,403,652**<br>**(65,102)**<br>**1,338,550**<br>**(68,582)**<br>**10,857**<br>**(57,725)**<br>**(388,467)**<br>**(388,467)**<br>**892,358**<br>**299,520**<br>**1,191,878**|31.8.23<br>£<br>402,757<br>(53,829)<br>348,928<br>(77,836)<br>2,321<br>(75,515)<br>(121,897)<br>(121,897)<br>151,516<br>148,004<br>299,520|
|---|---|---|



The notes form part of these financial statements 

Page 15 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE CASH FLOW STATEMENT for the year ended 31 August 2024** 

|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|
|---|---|---|---|---|
||||**31.8.24**|31.8.23|
||||**£**|£|
||**Net income for the reporting period (as per the Statement of Financial**||||
||**Activities)**||**76,863**|53,261|
||**Adjustments for:**||||
||Depreciation charges||**235,893**|230,201|
||Loss on disposal of fixed assets||**5,700**|-|
||Interest received||**(10,857)**|(2,321)|
||Interest paid||**65,102**|53,829|
||Decrease/(increase) in stocks||**3,152**|(21,208)|
||Decrease/(increase) in debtors||**199,598**|(76,777)|
||Increase in creditors||**828,201**|165,772|
||**Net cash provided by operations**||**1,403,652**|402,757|
|**2.**|**ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS**||||
|||At 1.9.23|Cash flow|**At 31.8.24**|
|||£|£|**£**|
||**Net cash**||||
||Cash at bank and in hand|**299,520**|**892,358**|**1,191,878**|
|||**299,520**|**892,358**|**1,191,878**|
||**Debt**||||
||Debts falling due within 1 year|**(124,603)**|**69,141**|**(55,462)**|
||Debts falling due after 1 year|**(970,798)**|**319,325**|**(651,473)**|
|||**(1,095,401 )**|**388,466**|**(706,935)**|
||**Total**|**(795,881)**|**1,280,824**|**484,943**|



The notes form part of these financial statements 

Page 16 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024** 

## **1. SCHOOL INFORMATION** 

Grange Rose Hill School Limited is a private limited company, limited by guarantee without share capital, registered and incorporated in England and Wales. 

The trustees of the charitable company can be found in the Report of the Trustees on page 7. In the event of the charitable company being wound up, liability in respect of the guarantee is limited to £1 per trustee. 

The address of its registered office and place of business is Rose Hill School, Coniston Avenue, Tunbridge Wells, Kent, TN4 9SY. 

The principle activity of the charitable company in the year under review was the provision of educational services. 

## **2. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

The presentation currency of the financial statements is the Pound Sterling (£) and amounts are rounded to the nearest whole £1. 

## **Critical accounting judgements and key sources of estimation uncertainty** 

Depreciation is a significant accounting estimate within the accounts. Depreciation rates are based on the useful expected lives of each asset. The Trustees review the assets to ensure that their policies remain up to date, accurate and in line with previous expectations to confirm that depreciation is not accelerated or under-provided. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

Income represents school fees and extra charges relating to the three academic terms in the year and income from other activities. Fees invoiced and received in advance are carried forward for credit in the period to which they relate. 

Other income, including the hire of facilities, is recognised in the period it is receivable and to the extent the charity has provided the goods or services. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Support costs are those incurred directly in support of expenditure on the objectives of the School and include project management carried out. Governance costs are those incurred in connection with administration of the school and compliance with constitutional and statutory requirements, 

continued... 

Page 17 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **2. ACCOUNTING POLICIES - continued** 

## **Expenditure** 

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. 

The running costs of the School, including the provision of education, are treated as direct charitable expenditure and includes costs relating to education, premises and the majority of administrative expenses. Other indirect expenditure has been classified separately. 

## **Government grants** 

Grants are recognised when evidence of entitlement is probable and its amount can be measured reliably. A grant that imposes specified future performance-related conditions is recognised in income only to the extent that the performance-related conditions have been met. Where the performance-related conditions have not been met or uncertainty exists as to whether the School can meet the terms or conditions otherwise within its control, the income is deferred as a liability until it is probable that the conditions have been met. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Land & buildings - at varying rates on cost Fixtures, fittings & equipment - at varying rates on cost Groundsman's equipment & minib uses - at varying rates on cost 

Tangible fixed assets are initially measured at cost price, this can include transport, installation, legal and other such associated costs. After initial recognition the asset is subsequently measured under the cost model of cost, less depreciation, less any impairment losses. 

Subsequent day-to-day servicing of the assets will be recognised in the profit or loss in the period they are incurred. Only subsequent expenditure that can provide an incremental benefit will be capitalised. 

No depreciation is charged on assets under construction. 

All assets costing more than £500 are capitalised. 

## **Stocks** 

Stocks are stated at the lower of cost and net realisable value. Cost is determined on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. 

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

continued... 

Page 18 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **2. ACCOUNTING POLICIES - continued** 

## **Fund accounting** 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Hire purchase and leasing commitments** 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Going concern** 

The trustees have made their own assessment of going concern and have a reasonable expectation that the  School has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties that cast significant doubt on the School's ability to continue as a going concern. 

In making their assessment, the trustees have updated their forecasts to reflect the Government's decisions to implement VAT on school fees from January 2025, removal of charitable business rates relief and the increase in Employer National Insurance from April 2025. 

## **Financial Instruments** 

The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments. 

Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment. 

Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market price or fair value. Equity instruments which are treated as financial assets and accounted for at cost are also assessed for impairment. 

## **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 School anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services is must provide. 

continued... 

Page 19 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

|**3.**<br>**OTHER TRADING ACTIVITIES**<br>Uniform sales<br>Other income<br>**4.**<br>**INVESTMENT INCOME**<br>Deposit account interest<br>**5.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>School fees receivable<br>Educational<br>Bursaries & scholarships<br>Educational<br>**6.**<br>**RAISING FUNDS**<br>**Other trading activities**<br>Purchases<br>**7.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Educational<br>Welfare<br>Establishment<br>Support<br>Governance costs|Direct<br>Costs (see<br>note 8)<br>£<br>**2,019,829**<br>**202,016**<br>**699,837**<br>**35,517**<br>**-**<br>**2,957,199**|**31.8.24**<br>**£**<br>**31,995**<br>**208,688**<br>**240,683**<br>**31.8.24**<br>**£**<br>**10,857**<br>**31.8.24**<br>**£**<br>**3,777,909**<br>**(150,506)**<br>**3,627,403**<br>**31.8.24**<br>**£**<br>**20,382**<br>Support<br>costs (see<br>note 9)<br>£<br>**43,987**<br>**-**<br>**197,606**<br>**572,606**<br>**10,300**<br>**824,499**|31.8.23<br>£<br>38,363<br>226,148<br>264,511<br>31.8.23<br>£<br>2,321<br>31.8.23<br>£<br>3,701,058<br>(236,074)<br>3,464,984<br>31.8.23<br>£<br>37,124<br>Totals<br>£<br>**2,063,816**<br>**202,016**<br>**897,443**<br>**608,123**<br>**10,300**<br>**3,781,698**|
|---|---|---|---|



continued... 

Page 20 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **8. DIRECT COSTS OF CHARITABLE ACTIVITIES** 

|Staff costs<br>Equipment lease & hire<br>General premises expenses<br>Catering<br>Tutorial<br>School trips<br>Motor expenses<br>Bad debts|**31.8.24**<br>**£**<br>**2,386,056**<br>**69,133**<br>**309,991**<br>**102,138**<br>**33,372**<br>**14,171**<br>**7,596**<br>**34,742**<br>**2,957,199**|31.8.23<br>£<br>2,358,354<br>71,449<br>310,027<br>102,155<br>37,860<br>11,989<br>5,647<br>(1,971)|
|---|---|---|
|||2,895,510|



## **9. SUPPORT COSTS** 

|**SUPPORT COSTS**|||
|---|---|---|
|Management<br>Finance<br>£<br>£<br>Educational<br>**-**<br>**-**<br>Establishment<br>**-**<br>**-**<br>Support<br>**523,247**<br>**1,913**<br>Governance costs<br>**-**<br>**-**<br>**523,247**<br>**1,913**<br>**NET INCOME/(EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>Depreciation - owned assets<br>Other operating leases<br>Deficit on disposal of fixed assets|Governance<br>Other<br>costs<br>£<br>£<br>**43,987**<br>**-**<br>**197,606**<br>**-**<br>**-**<br>**47,446**<br>**-**<br>**10,300**<br>**241,593**<br>**57,746**<br>**31.8.24**<br>**£**<br>**235,892**<br>**69,133**<br>**5,700**|Totals<br>£<br>**43,987**<br>**197,606**<br>**572,606**<br>**10,300**|
|||**824,499**|
|||31.8.23<br>£<br>230,201<br>71,449<br>-|



## **10. NET INCOME/(EXPENDITURE)** 

continued... 

Page 21 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **11. AUDITORS' REMUNERATION** 

|**AUDITORS' REMUNERATION**|||
|---|---|---|
||**31.8.24**|31.8.23|
||**£**|£|
|Fees payable to the charity's auditors and their associates for the audit of the|||
|charity's financial statements|**10,300**|10,500|



## **12. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## **Trustees' expenses** 

There were no trustees' expenses for the year ended 31 August 2024. Travel expenses of £54 were paid to 1 trustee in the year ended 31 August 2023. 

## **13. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs|**31.8.24**<br>**£**<br>**2,095,467**<br>**189,562**<br>**378,523**<br>**2,663,552**|31.8.23<br>£<br>2,032,207<br>183,886<br>359,840|
|---|---|---|
|||2,575,933|



The average monthly number of employees during the year was as follows: 

|Teaching<br>Support staff|**31.8.24**<br>**31**<br>**37**<br>**68**|31.8.23<br>31<br>39<br>70|
|---|---|---|



The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 

|£60,001 - £70,000<br>£80,001 - £90,000<br>£90,001 - £100,000|**31.8.24**<br>**-**<br>**1**<br>**1**<br>**2**|31.8.23<br>2<br>1<br>-<br>3|
|---|---|---|



continued... 

Page 22 



## **GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **14. TANGIBLE FIXED ASSETS** 

|Fixtures,<br>Land &<br>fittings<br>buildings<br>& equipment<br>£<br>£<br>**COST**<br>At 1 September 2023<br>**9,388,555**<br>**1,083,883**<br>Additions<br>**7,015**<br>**61,567**<br>Disposals<br>**-**<br>**(12,000)**<br>At 31 August 2024<br>**9,395,570**<br>**1,133,450**<br>**DEPRECIATION**<br>At 1 September 2023<br>**2,848,617**<br>**773,706**<br>Charge for year<br>**191,161**<br>**43,987**<br>Eliminated on disposal<br>**-**<br>**(6,300)**<br>At 31 August 2024<br>**3,039,778**<br>**811,393**<br>**NET BOOK VALUE**<br>At 31 August 2024<br>**6,355,792**<br>**322,057**<br>At 31 August 2023<br>6,539,938<br>310,177<br>**15.**<br>**STOCKS**<br>Stocks<br>**16.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income|Groundsman's<br>equipment<br>& minib<br>uses<br>£<br>**52,761**<br>**-**<br>**-**<br>**52,761**<br>**47,777**<br>**744**<br>**-**<br>**48,521**<br>**4,240**<br>4,984<br>**31.8.24**<br>**£**<br>**42,525**<br>**31.8.24**<br>**£**<br>**674,259**<br>**3,781**<br>**12,089**<br>**690,129**|Totals<br>£<br>**10,525,199**<br>**68,582**<br>**(12,000)**<br>**10,581,781**<br>**3,670,100**<br>**235,892**<br>**(6,300)**<br>**3,899,692**<br>**6,682,089**<br>6,855,099<br>31.8.23<br>£<br>45,677<br>31.8.23<br>£<br>875,573<br>3,184<br>10,970<br>889,727|
|---|---|---|
||||
||||
||||
||||
||||
||||



continued... 

Page 23 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Bank loans and overdrafts (see note 19)<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income|**31.8.24**<br>**£**<br>**55,462**<br>**78,595**<br>**37,062**<br>**57,541**<br>**1,583,910**<br>**1,812,570**|31.8.23<br>£<br>124,603<br>125,318<br>43,251<br>52,280<br>1,239,940|
|---|---|---|
|||1,585,392|



Included within creditors <1 year is deferred income of £1,542,042 (2023: £1,170,253) of which £1,156,760 (2023: £1,170,253) relates to the Autumn 2024 school term and £385,282 (2023: £nil) relates to the School's fees in advance (FIA) scheme. 

## **18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** 

|Bank loans (see note 19)<br>Other creditors<br>Accruals and deferred income|**31.8.24**<br>**£**<br>**651,473**<br>**91,250**<br>**512,757**<br>**1,255,480**|31.8.23<br>£<br>970,798<br>72,125<br>-|
|---|---|---|
|||1,042,923|



Included within creditors >1 year is deferred income of £512,757 (2023: £nil) relating to the School's fees in advance (FIA) scheme. 

## **19. LOANS** 

An analysis of the maturity of loans is given below: 

|Amounts falling due within one year on demand:<br>Bank loans<br>Amounts falling between one and two years:<br>Bank loans - 1-2 years<br>Amounts falling due between two and five years:<br>Bank loans - 2-5 years<br>Amounts falling due in more than five years:<br>Repayable by instalments:<br>Bank loans more 5 yr by instal|**31.8.24**<br>**£**<br>**55,462**<br>**59,649**<br>**207,242**<br>**384,582**|31.8.23<br>£<br>124,603|
|---|---|---|
|||127,026|
|||396,117|
|||447,655|



The loan is secured by way of a legal charge over the freehold property owned by the School. The interest rate on the loan at 31 August 2024 is charged at 2.3% above base rate. 

continued... 

Page 24 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **20. LEASING AGREEMENTS** 

Minimum lease payments under non-cancellable operating leases fall due as follows: 

|Within one year<br>Between one and five years<br>**21.**<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as follows:<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**<br>**Comparatives for movement in funds**<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.9.23<br>£<br>**5,461,708**<br>**5,461,708**<br>Incoming<br>resources<br>£<br>**3,878,943**<br>**3,878,943**<br>At 1.9.22<br>£<br>5,408,447<br>5,408,447||
|---|---|---|
||||



Page 25 

continued... 



**GRANGE ROSE HILL SCHOOL LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 August 2024** 

## **21. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>3,731,816<br>3,731,816|Resources<br>expended<br>£<br>(3,678,555 )<br>(3,678,555 )|Movement<br>in funds<br>£<br>53,261|
|---|---|---|---|
||||53,261|



A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.9.22<br>£<br>5,408,447<br>5,408,447|Net<br>movement<br>in funds<br>£<br>130,124<br>130,124|At<br>31.8.24<br>£<br>5,538,571|
|---|---|---|---|
||||5,538,571|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>7,610,759<br>7,610,759|Resources<br>expended<br>£<br>(7,480,635 )<br>(7,480,635 )|Movement<br>in funds<br>£<br>130,124|
|---|---|---|---|
||||130,124|



## **22. RELATED PARTY DISCLOSURES** 

During the year, five (2023: four) members of key management were reimbursed a total of £996 (2023: £671), in relation to expenses incurred on behalf of the School. 

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