Regis¢er¢d number: 01239748 Charlty number: 270719 DAIR HOUSE SCHOOL TRUST LTD (A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 "AC4P68DF* 31105r2023 COMPANIES HOUSE A13 #149 1 DAIR HOUSE SCHOOL TRUST LTD {A Company Limited by Guarantge) CONTENTS Page Reference and Admlnistrative Details of the Charitable ¢ompanyi its Trusl¢es and Advisers Trustses. Report Independent Auditors. Report on the Financial Statements Statement of Financial A¢tivities 9-12 13 Balance Sheet 14 Statement of Cash Flows 15 Notes to Ihe Flnanclal Stalements 16-32 DAIR HOUSE SCHOOL TRUST LTD (A Company Llmfted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Trustees Mrs Susannah Clarke Mr Adnan Downie Mr Gtyn Hayw￿ Mrs Nathalie Ha￿xrfJ M(s Anne King Mrs Jane Masih. Cha Mr Paul McNalty Mrs Victoria McNally Mfs Amanda Si￿eY Mrs Maralynn Velascopmd Company reglstered number 01239748 Charity registered number 270719 Registered offic• Bishops Blake Famham Road Farnham Royal Buckinghamshire SL2 3BY Senior managemgDt leam Mr T Winue, Head {to August 2022} J Bull. Head (from Septemter 20221 A Eastts￿. Head of Finance (from September 2021 to September 20221 Independent audfto MHA Building 4 Foundation Park Roxborough Way Maidenhead Berkshire SL6 3UD Bankers Ajlwl Irish Bank {to December 2022) 51 Belmont Road Uxbridge MiddWx UB8 1RZ Barclays Bank (from December 20221 1 Churchill Fl London E14 5HP Page 1 DAIR HOUSE SCHOOL TRUST LTD (A Company Llmlled by Guarantw) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Trustees present their annual feport together wih the a￿lIted fina￿la1 statements of the charitable company for the 1 September 2021 to 31 August 2022. The Annual report serves the purposes of both a Twslees. report and a directors. feport under company law. The Trustees confirm that the Annual report and finan¢ial statements of Ihe charitsble company comply ￿th the current statutory requirements. the requirements of the charrtable ￿mPanY$ goveming document and the pmws*)ns of the Statement of Recommended Practice {SORPI applicable lo ehariti.es preparing their acrnunts in accordanee wth the Financial Reporting Standard a.pplicable in the UK and Republic of Ireland IFRS102). Since the Charity qualifies as smal under section 383, the Strateg￿ repjrt required of medium and large eompanies under The Companies Act 2006 (Strategic Report and Directorfs Report) Regulations 2013 is not required. Objectlves and activities Policies and objectlves In setting obje¢lives and planning for activities, the Trustees have given due Considerati￿ to general gutdance published by the charity commission relab.ng to public benefit. Dair House Sch¢wl, 51tuated in a wonderful setting in Famham Royal, Buckinghamshire, provides chikjren with a magnificent educational platform for 9rov4th and development. Dair House School prides itself in providing a high quality education for boys and girts betr•￿n the ages of 3 to 11. Slrategles for achlevlng oblecllves The School provide5 a broadly based education, within the framework of a Christian ethos, embracing British values. This educational provision embraces high academic slandards wthin a w¢de and varied curriculum and excrting range of extra-curricular xtivities. wth the OPF*)rtunrtEs io undertake extensive school visits and trips. The school is proud of its local reputation of nuriuring children in a wam and caring educational environment to express their educab'onal. artistsc, sporbng, dramatic and Musi￿1 ability'es. The school uses the ialest technok*3y and resour￿ to enable the children to develop a desire to learn and be￿rne independenl leafflers. ACTMTIES FOR ACHIEVING OBJECTIVES The Schcofs aims are.. To maintsin the happy. caring family environment ￿lch has always been P￿sent at Dair House School. To proV￿e a high-qualty educats.on and preparing children for the 11+ enty to Grammar Schools or Comm¢M Entrance to Sen￿r Independent Schools. To promole a life4ong desire for leaming. To provide a happy, sts'mulatirvJ environment. will en￿￿rage the best from ovr pupils. To provide a broad and exating ¢urriculum aimed at nurturing the academic, sporting. musical. artistic and dramatic talents of the chihjren. To develop tolerance and vnderstanding, considerats)n and courtesy in ¢)ur s¢hool ¢omrnunty and beyond. To proV￿e the opportunty for every thild to achieve and to develop their confidence and self-esteem. To foster good COMMUn￿tion with the farnifies of our pu￿[$. Page 2 DAIR HOUSE SCHOOL TRUST LTD {A C¢)mpany Limited by Guarantee TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Objectlves and attivities (continued) Maln actlvltles undertaken to further the charltable company'$ purposes for the publlc benefit The small classes and famity environment of Dair House ensure quality teaching goes hand in hand with excellent pastoral care. We operate a House system that encourages children lo develop a sense of kn'nship and team spirit while also proV￿1ng opportun￿"e5 for pupils lo take on fO￿S of responsibility as Head of School, Prefects and House Captains. The Governors view our Bursary Policy as important in helping to ensure ¢hildren from families who would otherwise not be atr￿e to afford the fees can access the education we offer. Our bursary awards are available to all who meet out general enty requirements and are made on the basis of an individual's academic potential OT evidents of exceptional abilities whth wll contribute to our crrfurricular (such as sport), individual parerbtal situations or to relieve hardship Whe￿ pupil's education and future prospect would otherwise be al risk for example in the case of redundancy. For mearbS tested Bursanes we take a number of factors M)io consideration Ind￿￿1n9 family income. investrnents and sa￿n9$ and famity cirGumstanGe5 for example dependant relab'ves and the number of Si￿1n95. However. our School does not have an endowment and in fuTh1ing our awards we have to te mindful Ihal we musl ensure a balance betsveen fe&paying parerbts. many of ￿0M make considerable personal sacrifices to fund their child's education. and those benefih.ng from Ihe awards. In the cases of hardship. we may Iwk for bursary awards as supplement payment for ctrcurricular acb'vilies, equipment and 5ehool trips. Information about fee assistance through bursaries is provided to all applying to the School. Further detsils of our Bufsary Policy and how to appty are available on our website. Achlevements and perfomianee K•y p•rforniance indicators The Schod monitors pupil numbers. as being the main KPI. Page 3 DAIR HOUSE SCHOOL TRUST LTD {A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Achievements and p•rformJnce (continued) Review of actlvltks Dair House Sthod ended the academic year 2021r2022 with 124 pupils. Our staff have organised edueab'onal visits to Kew Gardens, Bletchley Pafk. Odd$ Farm, Royal Albert Hall, Royal Festival Hall. Slough Mosque and College Lake. We had excellent residential visrts. Years 5 and 6 went to Chateau Broutel in Northem France and Year 4 had 2 nights al 0a￿￿(￿j Youth Challenge. Wokingham. Academicalty, our Year 6 boys and girls passed 11+ exams to a range of grammar schools induding Beaconsfiekl High School and John Harnpden. Pupils also gained places at The Marist, LVS and Pipers Corner. The ￿h0o1 wnlinues to be strong ￿ the perfomiing arts. Chikjren have taken music exams from prep level to grade 3. At Christmas. Key Stage 1 and EYFS produced a V*rJnderful nativrty 'The Big, Lrttle Nativity, and KS2 perfofmed their annual Christmas Carol Concert at St John's Church. In the summer temi KS2 perfomied the Musi￿1 comedy 'Slar Warts. lo sold out audiences. We have also managed to produce the House Shoul. the House Poetry Recital eompelition. Art compeb"ts"on and Class Assemblies. The choir has also sung at The Royal Albert Hall for Di Bamardo's and performed at the Burnham Christmas Lights. The sehool continues to provide a vAde range of extrathCurr￿L4r dubs ranging from sp)rts, arts and crafts, and musical clubs. By 2022 the fixture prtsgramme was back in swing after the re5tri¢b"ons of the pandemic. The boys. gymnastic squad were pa￿cUlarty successful gaining a bronze in the Milano National Finals for the team event The forest school initiative 'Dair to Go Wild. was fulty introduced this year all children in Reception - Year 6 receiving approximately 2 hours of ould¢)or learning undertaking such ath"vitie5 as den and shelter building, fire making, problem solving and wijod cutb"ng. AJongsKle this the school contsnued ts gradual move to Microsoft th an aim of fvlly uwng Microsoft emails and suite by September 2023. Fundralslng actlvltles and Income generation The school does not undertake any public fvrKlraising. Financlal revlew Going concern After making appropriate enquiries. the b)ard of truslees has a reasonatle expectation that the Charity has adequote re50ur¢es to continue in operational existence for the foreseeable tuture. For this reason, rt continues to adopt the going concem basis in preparing the financ￿ slatements. Further detai15 regarding the ad¢)pts"on of the going concem basis can be found in the Statement of A¢￿￿ntIng Policies. Page 4 DAIR HOUSE SCHOOL TRUST LTD {A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Reserves poll¢y The Trustees. policy is to manage the funds and reseNes, toge1t￿ with the cashflow. of the school lo provide for the immediate and long term needs of the schLM)l. The Trustees manage the unrestrthd restrthd reserves in addit￿￿ to the cash flow requirements of the school having regard to the uneven nature of cash receipt5. the varying cash requirements for the school's development plans and the need to maintain an amounl for eontingeneies to cover unexpected unknowns similar to the COVKI 19 pandemic situatr"on. The Statemenl of Financial Activities and the Balance Sheet, together wth the notes to the account5, Show the various funds and reserves by type and also summari5e for each of them. the movements of the year together with the assets and l￿bIl￿"e5 attributable to them. The Trustees. policy is to maintsin a minimum of Free Reserves. The Unrestricted Funds lotalled £1,C63,834 12021: £1,159,456) at the year end, of whith £1,218.31212021'. £1,266,903) is depl¢)yed in langible fixed assets leaving free reserves of £154.478 {2021". £107.447}. Fdbvfing further developmenl of both the buildings and staffing at Dair House over recent years. budgeting is now in place to ensure that reseNes rise in forthcoming year5 to facilitate long term planning. induding meeting any signthcant increases in teachers. pension contribution fates in the future. The trustees recognise the importance of conts"nuing to work towards a target of having suwus free reserves available in order to further strengthen the oft9￿ng management of the school's activitses. The levd of reserves is monitored re9ularty by the Trustee5 throughout the year. Financial Review The chariV5 total income for the year was £1.327.942 12021.. £1.504.733) against which total expenditure incurred was £1.415.47712021= £1.362,124). The net use of reserves was £87,535 {2021: net addrtion £142.6091. The Statement of Financial Acti¥l￿S sh¢Jws the incoming resour¢es avaikble io the charity and the extent lo which the funds have been spenL This ￿ether with the balance sheet. show5 that the charity's total unresth.cted Fund Reserves amounted to £1.063.834 {2021: £1.159.456), and Restricted Fund Reserves amounted to £8.087 (2021. £nil). Principal risks and uncertainties In common wilh many small independent schts)Is. the major risks relate to variations in pupil nufflbers which are constsntly under review. and the impact of policies outside of the seh¢)ol's ¢ontrol. One of the key risks facing all parbcipaling schods is the increase in TPS conlribution rates which increased 430A from 16.48% in 2015 10 23.68% in 2019.11 is expected there wdl be another change to empknyer contribution rates in 2024 as a Tesult of the latest TPS valuation eompleted in March 2020. The Trustees are in the process of reviewing option5 for TPS. Investment policy As the ￿h0o1 d¢)es not hokl ￿rge endowm￿ funds there is limrted extemal investment opportunity. Free a5hflow is maintained in order lo prudenuy run day to day operatsons, any available surplus is utilized to maintsin existing assets to safeguard future operations. Once these objectives are met the trustees invesl in developing the school facilities to support or expand the curriculum lo best meet our student's changing needs. Page 5 DAIR HOUSE SCHOOL TRUST LTD IA Company Limited by Guaranteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Prfneipal funding The principal source of income 15 fees dBrged on a terynly basis. Structure. governance and management Comtitution The charty is registered as a charitable company limrted by guarantee. The Charity Registration Number is 270719 and the Company Registration Number is 1239748. The trustees of Dair House School Charity Limited are also the directors of the charitable company for the purposes of company law. The principal object of the charity is as set out in the Alernorandum of Asstiaation, to promote and pro¥kle for the advancement of education and in conneCt￿n therewth to conduct. carry on. acquire and develop in the United ￿"ngdoM any t¥)arding or day Scho￿ or sthcds for the education of chiklren of either sex or t()th sexes. Details of the tnjstees who served during the year. and to the date these accounts are approved are included in the Reference and Administrative Details on page 1. Methods of appolntment Of electlon of Trustees The management of the charity 15 the respons1￿.1￿ of the Trustees are elected and ¢o-OPted under the terns of the ArtKles of Association . Pollcles adopted for the Indu¢tlon and tralnln9 of Trustees The Trustees are the Governors. The training arKI induction provided ft)r new arKI existing GOverr￿r$ depend on their existing experience. The school's policy for the recruitment of new Govemors seeks to ensure a spread of expertise on the Board but ￿ere necessary induction of new Governors will include training on educational. legal and financial matters. Ail new Govemors will be given the opportunty of a tour of the school, have the chance to meet with staff and pupils and are provided wth copies of key doeuments includirbg the Governors. C¢)de of Conduct, Govemors. ConflKt of Interest Policy and the Governors. Infomiation Booklet which include the ststed Aims of the School. Governors are fvrther provided wth key pdicie5. procedure5, accounts, budges, plans and other d¢)cuments they need to undertake their role Governor. As there is expected to be onty a small number of new Govemors each year. induction wll be carried out informally and will be taibred specificalty to the indNtdual. Training provKJed by AGBIS can also be accessed as required by any governor. The Chair of Governors wll oversee the training in line with a training schedule provided by the senior management team. Pay policy lor senlor staff The trustees, roles are ￿mPletety voluntary for which they re￿1ve no payment or other benefit in retum. The salary of The Senior Management Team is revbewed by the tru5tee5 annualty, usually in the Summer temi for implementation from the following September. The trustees wll conshler the rate of inflation. forecasted income and profitability plus any extemal factors in their decision. The ￿erShiP scales in the maintained sector wdl be monitored for similar sized sCho￿S in order to ensure key stsff are securely appointed and retained. Page 6 DAIR HOUSE SCHOOL TRUST LTD (A Company Llmited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Stru¢ture, governan¢e and management (continued) Organlsatlonal stNcturn and decision making Dair House School trust is an equal opportuniknes employer and wll apply objective criteria to assess merits and ensure that individuals are selected, promoted and treated on the basis of their relevanl abilities. Teaching staff, the Board of Trustees and every person who works on the schr)S premises whilst children may be present are required to undergo Disdosure arKI Barring SerY￿e checks prior to being appointed. Day lo day decisions a￿ delegated ty Trustees to the Head. Plans for future periods F￿Ure developments The Govemors are committed to fvrther devebp the sthcd's fa¢lib"es and io maintain the fabri¢ of the s¢hool. The s¢hod has amtN'titius plans for future devdopment these include.. Human Resources.. Continued ProfessM)nal OeveloFment opportunities for all staff and lo further develop the iole of specialist teachers. CurTiculum'. Further enhance the schoofs assessment pr￿Tamrne and the balance of the curriculum. Building l Grounds.. VarKJus projects are under eonsideration to further develop the s¢h¢)0l's facilities. This indudes the expansion of our"Dair lo go Wikj. forest school. We are also seeking to further enhance the forTnidable computer skills developed by all our ehildren dunng our online learning. With this in mind. we aim to work more cbsely Microsoft and become a beacon school. Information on fundrnlslng prathes The school does not actively fundraise. but is aware of fundraising legislats'on requirements. should use be made of extemal fundraisers in the fubjre. Memberts. liability Ea¢h member of the charilable company undertakes to contribute to the assets of charitable company in the event of it bein9 wound up vthile they are a member. or within one year after they cease to be a member. such amount as may be required, not exeeeding the amount spetrf*d in the Artic￿5 of Associab"on, for the debts and liabilities contracted before they eeased to be a member. Tru$te¢s' indemrtiti¢s In accordance with r￿Mal ¢ommer¢ial prath"¢e. the Schts)I has purchased insuran¢e to protect Trustees and off￿er5 from claims arising from negligent acts. errors or omiss￿n5 l￿Curring whilst on school business. The professional indemnity insurance prowdes cover up to £1.000.000 on any one claim and the cost for the year ended 31 August 2022 was included in the total insurance cost Page 7 DAtR HOUSE SCHOOL TRUST LTD IA Company Llmited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Related party transactions Thwe are no r￿n¢Cle￿ 0rwdnlsati(￿, arnj where trans*b)n5 have ocajrred 7•rith rei4ted parties, these are disdosed in thè notes to Ihe financial ststements (see rK)te 22). Statement of Tru$tee$' responslbllltles The Trustees Ivkn afe aso the thctors of the charilable CCmp￿Y lor the purposes of cc*npany lawl are responsib￿ for p￿paTrn9 Ibe Tnjslees, Rewl and Ihe finarriaj ststements Trn aCc(￿nce with applicable Jaw and United KiryJdom Amjnting Standards {United ￿ngdoM Genwalty Accepted AccxJuntin9 Practice). Company law requi￿ the Trustees b prep8rÈ finanryal slaternents for eath financial . Under compony18W. the Trustees must apprts￿ thè finar(ial Statements unless they are sali5fied Ihal they give a true Ar%1 falr ￿eW of the state of affairs of the charitable company and of its incoming fesWn￿S and application of resources, induding its In￿ne and eX￿dit￿re. that perKJd. In prewng these financial statements. th8 Tfustees arg required to.. sdect Sultat￿* acetyJnting rAil￿￿e5 and Ihen aprAy them (X￿lSten￿Y. observe the methcMJs an¢J pri￿lFIeS ol Ihe Charilies SORP IFRS 1021: make jud9ements arKJ è¢countir*J e5timattrs that are reaSona￿e and [￿dent.. state whether applicable UK AcoxJntir¥J StsThJards {FRS 1021 have tjeen followed, S￿l•cl to any malgrial departures disckjsed arrfl eX￿alne￿ in the finarKial slatements,. pr¢par8 the finarKial stsl8ments on Ihe ￿Nn9 concem basis url•ss it 1$ kn8PFwriate to PTeSL*no that th charitsble CompanYv￿ll crntinue in Lwines$. The Trustets are responslble for kèe5xng adequate ace(￿￿tIng recutr that are sufficient to show and eX￿aIn the charitsble eompan*s transaclTrcn5 and disclose *ith reasJ to which they relate. The charitable company also operates a deffined contn'bubon scheme administered by Legal and General for non-teaching staff members. The assets of the scheme are held separately from those of the charitable company and the annual contribubons payable are charged to the Ststement of Financial Activities (SOFA) in the pemd to which they relate. 1.14 Fund accounting General fvrKls are unrestrieted funds whKh are avaikble for use at the discretion of the TTuslee$ in furtherance of the general objectives of the charitab￿ company and which have not been designated for other purposes. Restricted fvnds are fvnds which are to be used in accordance with specific restriction5 imposed by donors or which have been raised by the charilabk company for parts"¢ubr purposes. The costs of ra15ing and administering such funds a￿ tharged against the Specif￿ fund. The aim and use of each restricted fund is set out in the notes to the financial ststements. P4e 19 DAIR HOUSE SCHOOL TRUST LTD IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accountlng pollcles (contlnuedl 1.15 Crltical accounting estimates and areas of ludgment Estimates and judgments are ¢¢￿tinual￿ evaluated and are based on historical experience and other factor$. in¢luding expe¢tstiMs of fLrture events that are believed to be reasonable under the circumstances. Critical accountirwJ estimates and assumptions: The only area of estimation used by the thanty is depreciation. which is based on expected useful lives and historical infomation. Income from donations and legacles Unrestricted R•slTicled funds funds 2022 2022 Total funds 2022 Donations 751 8.087 8.838 Total 2022 751 8.087 8,838 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Donations Governrnent grants - CJRS 804 25,369 25.369 804 25.369 26,173 Page 20 DAIR HOUSE SCHOOL TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Income from charftable actfvtfles Unrestricted funds 2022 Totsl funds 2022 Total funds 2021 Gross fees and charges Discounts given 1.478.960 {159,8561 1N78.960 1159.8561 1.682.722 1204,225) Total 2022 1.319.104 1.319.104 1.478,497 Investment Income Total funds 2022 Total funds 2021 Investment income 63 Anatysls of expenditure on charltable acifvltles Surnmary by fund type Unrestrlcted funds 2022 Total 2022 Total exFenditure 1.415.477 1.415A77 Unrestricted funds 2021 Restricled funds 2021 Total 2021 Total expenditure 1.336.755 25,369 1.362.124 Page 21 DAIR HOUSE SCHOOL TRUST LTD (A Company Llmfted by Guaranteel NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2022 Anaty$i$ of ex￿ndItUre by a¢tivitigs Activities undertakon directty 2022 Support eosts 2022 Total funds 2022 Total expenditure 1.312,755 102,722 1.415.477 Actrvities undertaken direct 2021 Support costs 2021 Total fund5 2021 Total expendrture 1,280,352 81.772 1,362,124 Analysis of dir¢ct costs Total funds 2022 Total funds 2021 Actlvllles 2022 Wages and salaries Provision of education seryKes 889,351 423,404 889.351 423,404 941,686 338,666 1.312.755 1,312,755 1,280.352 Pa9e 22 DAIR HOUSE SCHOOL TRUST LTD {A Company Limited by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Anatysls of expenditure by actlvtties (continued) Anatysis of $upport costs Total funds 2022 Total funds 2021 livities 2022 Wages and salaries Training Advertising Telephone and postage Motor vehicle expenses Sundry admirbislratK•n and supwt costs IAPSIISI aC¢redrtalI￿ aTrJ affilith.on Loan Inte￿$t payable Bank charges Speech day costs Governance costs 23.403 4.130 7.113 5.801 6.290 4,414 5.040 11.782 5.302 11.464 17.983 23,403 4,130 7,113 5,801 6,290 4,414 21.612 2.894 10.423 3.070 1.301 5.491 5,070 14.391 528 2.584 14.408 11,782 5.302 11.464 17,983 Total 2022 102,722 102,722 81,772 In 2022 £nil12021- £25,369) of salary costs related io restricled expenditure. During the year ended 31 Augusl 2022, the tharity incurred the following Governance cosls.. £11,290 audit and accountancy fees and £6,693 legal and professional fees 12021 £9.783 audit and accountan￿ fees and £4,625 legal and professional fees) included vdithin the table above. Page 23 DAIR HOUSE SCHOOL TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Net Incomel (Expenditure) 2022 2021 Thls Is slated after charglng: Depwiatson of tsngible fixed assets: ovmed by the charity Auditors, remuneration - audit Auditors, remuneration - other servtes Operating lease rentsls 71.255 66,954 6.200 3.583 9.784 3,250 14,809 97.354 86.521 During the year, one trustee IA lfj"ng} was patd femuneration of £869 12021". £269) for supply teaching. No pension contributions were made by the ¢haritable company on this amount {2021.- £nil) and no other payments were made12021'. £nil}. During the year Trustees were reinl)ursed any expenditure12021: £nill. Staff costs 2022 2021 Wage5 and salaries Social security costs Employers. pension costs 727A41 64,564 120,749 768.473 66.516 128.309 912.754 963.298 The average number of rwsons emphjyed by the charitable company during the year was as follows: 2022 2021 No. Teachers 17 15 17 Non-teaching 15 32 32 Page 24 DAIR HOUSE SCHOOL TRUST LTD (A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 staff costs {¢ontinU￿) number of empws wthose employee beneffts (excluding employei pension costs) exceeded £60,000 was.. 2022 No. 2021 No. In the baTrJ £60.001 - £70.000 The key management personnel of the charity comprise the Twstees and the senior management team a5 listed on page 1. The total amount of employee benefits (including employer pension contributions and employer natK)nal inSurar￿) received by key management personnel for their services to the chanty was £84,29812021. £82,641). Tanglbk fixed assets Freehold property Motor Fixtures and vehicles fittlngs Totsl Cost or valuation At 1 September 2021 Addth￿S 1,736,017 25.500 206,83S 22,664 1.968.352 22.664 At 31 August 2022 1,736,017 25,500 229,499 1,991,016 Depreciatlon At I September 2021 Charge for the year 25.276 75 127,208 37.315 701.449 71.255 33.865 At 31 Augusl 2022 582,830 25.351 164,523 772,704 Nel book value At 31 August 2022 1,153.187 149 64.976 1,218,312 At 31 Augusl2021 1,187,052 224 79,627 1,266.903 Page 25 DAIR HOUSE SCHOOL TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 10. Debtovs 2022 2021 Due within one year Trade debtor5 Prepayments and accrued income 9,549 27A07 12.109 22,617 36,956 34,726 11. Creditors: Amounts falllng due wlthln one year 2022 2021 Bank loan Trade creditors Deposit5 Fees received in advance 306,738 29.165 11.264 47,883 36,060 23.246 34,200 62,526 7,0¢)0 163,010 43.042 33.809 Other creditors Accruals and deferred income 454,356 343.587 The bank loan is secured by fixed and Trjating charges dated 25 November 2005 and 10 May 2006 over the undertakings and all propety and assets of the company. In Novernber 2022 the charilable company refinan￿1 Ihe bank loan and have agreed a facility amount of £SOO.000 on a floating rate basis a term of 10 years. The full amount of the bank loan is shown within amounts fallin9 due wthin one year at 31 August 2022. The new bank loan is secured by a kgal ¢harge over the propety of the charitable company. 12. Credilors: Amounts lalllng due after more than one year 2022 2021 Bank loans Other creditors 306,738 37.500 38,500 38.500 344.238 The bank loan is secured by fixed and floating charges dated 25 November 2005 and 10 May 2006 over the undertakn.ngs and all property and assets of the company. Page 26 DAIR HOUSE SCHOOL TRUST LTD IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 13. Statemenl of funds Staternertt of funds- current year Balance at 1 September 2021 Balance at 31 August 2022 Income Expendlture Unrestricted funds General Funds 1.159.456 1.319.855 (1,415,477> 1,063.834 Restrlcted funds Restricted fvnds Minibus donation 8,087 8,087 8.087 8,087 Total of fund$ 1.159,4S6 1.327,942 (1,41S,477l 1,071,921 Restricted funds The school received a donation towards the lease ofthe minibus. Statement of funds- prlor year Balance at 1 September 2020 Balance at 31 August 2021 Income Expenditure Unrestrkted funds General Funds 1.016,847 1.479,364 {1,336.755} 1.159.456 Restrirted funds Restn"cted funds Minibus donation 25.369 {25.369) 25.369 {25,369) Total of funds 1,016.847 1,504,733 (1.362.124) 1,159,456 Page 27 DAIR HOUSE SCHOOL TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 13. Statement of funds (contlnuedl Restr￿ed funds Restricted funds felate to mollies received from the govemment in relation to the Coronavirus job retention scheme. Al funds were fulty utilised in the year. 14. Analysis of nel assets between fvnd$ Analysis of nel asuts between funds- current year Unrestricted Reslrlcted funds funds 2022 2022 Total funds 2022 Tangl￿e fixed assets Current assets 1.218,312 338.378 (454.3561 (38.5001 1,218,312 346.465 1454.3561 138.500) 8,087 Credrtors due wtihin one year Credrtors due in more than one year Total 1,063.834 8,087 1,071,921 Analysis of net assets between funds - prior year Totsl funds 2021 funds 2021 Tangible fixed assets Current assets Creditors due wthin one year Creditors due in more than one year 1.266,903 580,378 (343,587) (344.2381 1,266,903 580,378 (343,587) (344,238) Totsl 1.159.456 1,159,456 Page 28 DAIR HOUSE SCHOOL TRUST LTD IA Company Lirnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 15. Reconciliation of net movement In funds to net cash flow from operating activities 2022 2021 Net incomelexpendlture for the year {a5 per Statement of Fin*Kial Activities) Adjustments for. Oeprecialion charges Interest paid Dmdends, interests and rents from investments Decreasel{increasel in debtors Increaselldecrease) wi creditors 71,255 11,782 66.954 14.391 1631 27,853 47,769 (2230} (194,969} Net cash provlded byl(used Inl operating activities 1201,697} 299.513 16. Analysls of cash and cash equlvalents 2022 2021 Cash in harKI 309.509 545,652 Total cash and cash equivolents 309,S09 545.652 17. Analysis of ¢hanges in net debl Septernber A131 2021 Cash flows August 2022 Cash at bank and in hand Bank overdrafts repayable on demand Debt due after 1 year $4S,652 134,200) 1306,738) 1236,1431 309,509 1272,5381 (306,7381 306.738 204,714 (201,943) 2,771 Page 29 DAIR HOUSE SCHOOL TRUST LTD IA Company Llmited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 18. Penslon commitments Teachers. Pension Scheme The Charitable eompany participates irt the Teachers. PensB)n Scheme for England and Wales ITPS), mulli*mployer defined benefrt pension scheme, for its te&hing slaff. Contributions amounting lo £7,653 (2021.. £11.4441 were payable to the scheme al 31 August 2022 and are included within other creditors. Introduction The Teachers. Pensron Scheme (TPS or scheme) is a statutory. unfunded. defined benefit occupational scheme, govemed by the Teachers. Pensions Regulations 2010 {as amended). and Ihe Teachers, Pension Scherne Regulations 2014 (as amended). These regulatrjns apply lo teachers in schools and other educational estsblishments, including academies, in England and Wales that are maintained by local authorities. In addition, teachers in many independent and voluntary-aKled schools and teachers and lecturers in some establishments of further and higher edUcat￿n may be eligibk for membership. Membership is automatic for full-time teachers and lecturers arKI. from 1 January 2007, automatic too for teachers and lecturers ill part-lime employment folk)wing appointment or a change of eontrael. Teachers and le¢turers a￿ able to 4Jt out of the TPS. Valuation of Teachers Pension Scheme As a result of the latest scheme valuation employer eontribvh.ons were increased in September 2019 from rale of 16.4QA to 23.6Qh. Employers also pay a charge equNalent to 0.08% of pensionable salary costs lo cover adminislralion expenses. The next vduation is exF*Cted to lake effect in 2023. SCHEME CHANGES In December 2018. the Court of Appeal held that transitional protection provisions contained in the reformed judicial and firefghler penS￿n schemes. intrcNJuced as part of Publ￿ service pension reforms in 2015, gave rise to direel age diseriminati¢)n and were therefore unlawful. The Supreme Court. in a deusion made in June 2019. rejected the Govemmenfs applicab'on for pemission to appeal the Court of Appeal's rulirvj and subsequenty referred the case to an Emkloyment Tribunal to determine a remedy which will need to be offered to those members of tsyo schemes who were 5ubje¢t of the age discrimination. Since then. claims have also been k)dged against the main public seNice schemes including the TPS. The Department has conceded those in line the rest of the government In July 2020 HM Treasury launched a 12•week public corbsultab.on ￿lch will provide evidence to 5UPPQrt the delrvery of an appropriate remedy for the affected schemes. including TPS. A final remedy will be detemiined once the results of the eonsultation are established. In De￿rnbel 2019, a fvrther legal challenge ￿a$ made against the TPS reLating to an identified equal￿"e8 issue whereby male survr¥ors of opposrttssex marriages and cNil partnerships are treated less favourab than survivors in same•sex mafflages ar￿ partnerships. The Se¢￿tary of Stale for Education agreed not to defend the ease. In June 2020. the EmFloyment Tribunal re¢orded its findings in respe¢t of the claimanL DfE is cuffently working to establish what thanges are ne￿Sary to address this discrimination. Any impact of these events will be laken into account when the next scheme valuation is implemersled. This is scheduled to be implemented in April 2023. based on April 2020 data. Page 30 DAIR HOUSE SCHOOL TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 18. Pension commitments (continued> The employers pension costs paid to TPS K) Ihe period amounted to £101.597 (2021: £108.630). A copy of the latest valuab.on report can be found by folts￿"n9 this link to the Teachers. Pension Scheme website Ihttps.IlwvM.teaeherspensions.co.ukJnewslemFdoyer$1201911)41teacherspnsions-valLtationreporL aspxl. Under the definitions set oul in FRS 102. the TPS is an unfunded mults*mployef pension scheme. The Charitable Company has aecounled for its u)ntn"butions lo the scheme as if rt were a defined contribution scheme. The Chantable Company has set out above the infomiab.on available on the scheme. Defined Contributs'on Scheme As disclosed wthin the accounting p)liaes, Ihe charitable company also contributes lo a defined contribution scheme for certain other non-teaching staff. The pension contributions paid into that scherne in the per*)d amounted to £19.152 (2021.. £19.679). Contributions amounting lo £1.976 {2021.. £2,193) were payable to the scheme at 31 Augusl 2022 and afe included within creditors. 19. Operatlng lease commltments At 31 August 2022 the eharitsbk company had ccffimrtments to make futu￿ minimum lease payments under non