2022-08-31-accounts

Registered number: 01269507 Charity number: 273586

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the College, its Directors and advisers	1 - 2
Trustees' report	3 - 19
Independent auditors' report on the financial statements	20 - 23
Statement of financial activities	24
Balance sheet	25
Statement of cash flows	26
Notes to the financial statements	27 - 46

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COLLEGE, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022

Directors	Andrew Grime, Chair of Governors1,2,3,4,5
	James Brown, Equality, Diversity & Inclusion Governor (appointed 24 March 2022)1
	Emma Bunting, Chair of Finance & Bursaries Committee1
	Paul Carter, Deputy Chair of Governors, Deputy Chair of Curriculum & Learning Committee & EYFS Governor2
	Fraser Crewe, Chair of Estates & Compliance Committee3
	Jeremy Dussek, Deputy Chair of Pastoral & Wellbeing Committee and Prevent Governor (resigned 29 November 2022)4
	Richard Flood, Deputy Chair of Estates & Compliance Committee (resigned 3 September 2021)3
	Sean Gardner, Chair of Pastoral & Wellbeing Committee, Safeguarding Governor, Careers Governor and GDPR Governor (resigned 13 January 2023)2,4
	Roger Hoyle, Chair of Promotions & Communities Committee5
	Tim Stanley, PSHE & RSE Governor1,5
	Damian Stenhouse, Chair of Curriculum & Learning Committee, ECT, SEND and MAGat Governor2

1 Finance & Bursaries Committee

2 Curriculum & Learning Committee

3 Estates & Compliance Committee

4 Pastoral & Wellbeing Committee

5 Promotions & Communities Committee

Derek Bunting, Noel Dutton, Trevor Manning Foster (deceased 14/02/2022) and Jane Robinson are Foundation Governors who are entitled to atttend Directors' meetings but not to vote. Derek Bunting serves on the Finance & Bursaries Committee, Noel Dutton, Trevor Manning Foster (deceased 14/02/2022) and Jane Robinson serve on the Estates & Compliance Committee.

Company registered
number	01269507
Charity registered
number	273586
Principal and Registered	Saighton Grange
office	Saighton
	Chester
	CH3 6EN

Page 1

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COLLEGE, ITS DIRECTORS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Company secretary	Brian Wake
Independent Auditors	WR Partners
	Chartered Accountants
	Belmont House
	Shrewsbury Business Park
	Shrewsbury
	Shropshire
	SY2 6LG
Bankers	National Westminster Bank
	Union Street
	Chester
	CH1 1UA
Solicitors	Jolliffe & Co
	Exchange House
	White Friars
	Chester
	CH1 1DP
Insurance Brokers	Hettle Andrews
	2 Brunswick Square
	Birmingham
	B1 2LP
Senior management	C Jenkinson, Headteacher - Senior School (appointed 1 September 2021)
team	M Hickey, Headteacher - Infants & Juniors
	G Allmand, Senior Deputy Headteacher (resigned 31 August 2022)
	A Austin, Senior Deputy Headteacher (appointed 1 September 2022)
	R Kennedy, Director of Finance and Operations (resigned 8 July 2022)

Page 2

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees present their Annual report together with the audited financial statements of the Deeside House Educational Trust Limited for the year 1 September 2021 to 31 August 2022. The Annual report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Objectives and activities

a. Policies and objectives

The charitable company is established to promote and provide for the advancement of education. It has established Abbey Gate College, Chester (the College) to provide a first class education of high academic standard, with individual attention being given to each child. All pupils are encouraged to extend themselves to their full potential both academically and personally.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

Trustees, Governors, Senior Leaders, Staff, Parents and Pupils respectively and appropriately contribute to the on-going review and implementation of the College’s Strategic Plan, which includes an Educational as well as a Business Development Plan.

Our vision is to be the school of first choice in the area for families who seek a personalised, caring, and safe educational environment, with excellent curricular and co-curricular provision, and a commitment to preserve, protect, and progress the world we all share.

In support of the College’s vision, our mission is, within our safe and caring community, that each one of our pupils will become the best that they can be, and have the self-belief to go forward into this changeable world with courage and with compassion.

Since foundation, the College has always aimed to develop and nurture each individual pupil’s character, personal skills, and attitude around a robust core of academic excellence. This is clearly defined by our revised, three, aspirational pillars:

Page 3

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

All aspects of our curricular and co-curricular programmes, as well as our continuing development and evolution as a school, aim to establish a strong foundation of life-long resilience, compassion, and creativity, so that each pupil will become an adult with the self-worth, purpose, and courage to thrive in a future world, which they will help to shape for the good of themselves and others.

Page 4

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

• In the academic year of 2021-2022, headline developments included:

• 1) A new Head from September 2021, with strong leadership experience in both UK and international schools.

• 2) A review and re-launch of the College’s vision, mission, and aims, as above.

• 3) A review and re-launch of the College’s code of conduct for all pupils, as our community moved on from lockdowns and the substantial impact of the 2020/21 pandemic.

• 4) The appointment of a new Manager of Marketing & Promotions, who is making much clearer, for the benefit of all, what the College’s core purpose is and our visual identity.

Page 5

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

• 5) A review and re-launch of the College’s House system, in full consultation with students across all years. In addition to the pastoral benefits of vertical grouping within the College’s otherwise traditional structure by year group, the fundamental purpose of our Houses to support “Service” to others is more evidently defined and enabled.

• 6) A review and re-design, led mainly through student consultation, of our College uniform, to include improved gender neutrality within the clothing options.

• 7) A developmental prioritisation of the emotional and physical safety of all students and staff, specifically within the COVID-context, but also enabling evolved procedures for disclosures, sharing, and behaviour management. This included, for example:

• a. An anonymised, digital safeguarding reporting/sharing tool for students;

• b. A new digital platform for recording and monitoring safeguarding issues;

• c. Increased CCTV across the whole College;

• d. Improvements to site security generally across the whole College;

• e. Advocacy with the local council in relation to road crossing safety at Saighton Grange;

• f. Restrictions on students’ use of mobile phones/devices during the school day.

Page 6

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

• 8) A developmental prioritisation of contextual wellbeing, from specific, professional counselling expertise and mental health support, to integrated ways of being, working, and learning each day. This included, for example:

• a. Reviewed & increased non-contact for some staff, particularly pastoral;

• b. Appointment of a new HR Manager i/c Staff Wellbeing;

• c. Weekly services of an additional, professional counsellor as well as a therapist, alongside our existing pastoral teams and expertise;

• d. Reviewed suicidality protocols;

• e. Appointment of a new catering company from Summer ’22 across the College, with staff, student, and parental consultation;

• f. Affiliation with ‘ThoughtBox’ and their Triple Wellbeing Award: Self-Care, People-Care, Earth-Care;

• g. Review of facilities & spaces, including a re-furbishment of our Sixth Form & Learning Enrichment/Support areas, with the kind support of a generous benefaction.

• 9) A developmental prioritisation of student agency in both academic learning as well as personal growth, with a specific focus on feedback, formative assessment, metacognition, student voice, and leadership responsibilities. This included, for example:

• a. Assessment feedback to feed-forward & pupil response practices;

• b. Increasing value-added outcomes at GCSE & A level;

• c. Evolving student leadership, with 3 Heads of School, each with a clear leadership role in their title, moving on from gender-defined titles;

• d. Developing 3 ‘Student Agencies’ of pupil voice groups and committees across all years: i. Self: Learning & Wellbeing & Diversity ii. Service: Houses & Charities & Projects iii. Sustainability: Ecology & Digital

• e. Re-connecting with and developing further our PTA & Parent Reps.

Page 7

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

• 10) A developmental prioritisation of higher order pedagogical practice in lessons, enabling a variety of ‘stretch & challenge’ for all pupils, and including enhanced provision for those identified as more able, gifted, and talented (MAGaT). This included, for example:

• a. A new Senior School staff lead for MAGaT provision, and learner profiles for MAGaT pupils;

• b. Staff training, discussion & priority focus;

• c. Creation of a Teaching & Learning policy, with a staff group of pioneers; d. Work with the ‘Student Agency’ for ‘Self’.

• 11) A developmental prioritisation of digital innovation for all pupils and staff, to maximise the effectiveness of remote/blended/hybrid teaching and learning, as well as the use of devices in lessons. This included, for example:

• a. Upgraded Wi-Fi across the whole College, with upgraded network cabinet & switches; b. Upgraded cyber-security and insurance;

• c. Surface Pro devices for all staff from Sept. ’22, led by a staff group of Digital Pioneers; d. Work with the ‘Student Agency’ for ‘Sustainability’;

• e. The selection of and migration to a new Management Information System across the whole College from Sept. ’22.

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

The Directors maintain due regard to the Charity Commission’s revised guidance on public benefit.

The College provided a much-valued education to 498 pupils during the year at no cost to the UK Treasury. Pupils are prepared for the opportunities, responsibilities, and experiences of later life. Fees are set at as low a level as possible, whilst ensuring the financial viability of and the ongoing investment in the College, and are consistent with our vision, mission, and aims.

Along with all schools in the country in 2021-22, many of the College’s educational and/or public benefit initiatives were limited, restricted or curtailed because of the prevailing pandemic-related context. However, despite these challenges, the College still made every effort to serve others as much as possible.

• 1) Examples of how our local community benefited from the College’s grounds and facilities: a. Weekly use by Chester Hockey Club

• b. Termly and holiday clubs run by AJ Huddart (Dodgeball and Tennis)

• c. Weekly football run by Eaton Estates

• d. Weekly football run by local pub – Rake and Pikel

• e. Weekly use by Farndon Netball Club

• f. Weekly football run by Chester Nomads Junior Football Club

• g. Weekly football run by MPH Coaching

• h. Weekly football run by Andrew Whiton

• i. Weekly netball run by Boughton Belles

• j. Termly hire by Chester Music society

• k. Trinity Music Exams

• l. Go Kids Go – Wheelchair sports

• 2) Examples of direct service/outreach in the local community:

• a. Spirit of Christmas – online charity concert for Neuro Muscular Centre

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DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities (continued)

• 3) Examples of direct service/outreach in the wider, global community: a. Service project with ‘Sense Africa’ and our link-village in Eswatini – the student and staff expedition to Mlindzini High School took place in July ’22.

• b. As Ukrainian refugees arrived in the Chester area, we actively supported host families by: i. organising collection of goods & clothes

  • ii. designing, making, and promoting yellow and blue Sunflowers, sold and worn in support those suffering from the consequences of war

  • iii. providing non-fee/100% bursarial education for 2 Senior School refugee pupils.

• 4) Examples of indirect service through charitable fund-raising:

• a. £1254 was raised for ‘Children in Need’

• b. £250 was raised for Charlie Waller Trust

• c. £269 was raised for the Save the Children Christmas Jumper Day

• d. £2000 was raised for Visyon, a mental health charity for young people

• e. £2000 was raised for Ark Angels, which supports local animals in need

• f. £1030 was raised for the College’s Ukrainian Sunflower Appeal

• 5) Examples of educational partnership/benefit in the local community:

• a. Subsidised ‘Brain Day’ lecture for Sixth Form scientists at Christleton High School;

• b. Relationship established with Chester International School for shared initiatives;

Opportunities for the education of pupils whose parents cannot afford to pay full fees are provided through the bursary scheme. Parents benefited to the extent of £67,130 in respect of 18 pupils in the year. The College engaged the services of an external, specialist company to review and advise on all bursarial applications, and help to ensure that the College’s practice and decisions are appropriately monitored and managed, with ongoing consideration of equality, diversity, and inclusion perspectives.

Other fee awards in the year including scholarships, which were not means-tested, sibling and staff discounts were £236,418.

The availability of bursary and other means-tested awards are, and will continue to be, publicised on the College website and by other means. In assessing means a number of factors are taken into consideration including family income, investments, savings and family circumstances. However, as there are no endowment funds in making awards, the Board have to be mindful to ensure a balance between fee paying parents, many of whom make considerable personal sacrifices to fund their child’s education, and those benefiting from the awards. One important part of the work of the Promotions Committee has been to help raise non fee income to provide an enhanced and equitable bursary provision.

Page 9

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Strategic report

Achievements and performance

a. Financial achievements of the College

The Statement of Financial Activities for the year ended 31 August 2022, which forms part of the financial statements that follows this report, shows a surplus of £149,629 The corresponding surplus for the previous year was £409,069. The inflationary increase in fees as from 1 September 2021 was 2% resulting in gross fees for the year of £6,344,011 (2021: £6,156,211).

The net cash inflow from operating activities was £652,497 (2021: £1,052,727). The net inflow, which is fully explained in the Statement of Cash Flows on page 23, is principally the result of the surplus for the year and additional fees received in advance. Payments to acquire tangible fixed assets were £252,673 (2021: £182,044). Cash at bank increased to £3,639,768 from £3,313,534, however this includes £600,000 of a Government backed Covid Interruption Business Loan (CIBL) taken out in the previous financial year which has subsequently been repaid after the 31 August 2022.

Net current assets at 31 August 2021 of £1,430,676 decreased slightly to £1,363,534 at 31 August 2022 as a result of movement in creditors.

In order to be satisfied that the charitable company has adequate finance facilities to meet its obligations as they fall due and particularly when considering a project involving substantial expenditure, the Directors review detailed budgets and cash flow forecasts and regularly monitor progress against these forecasts. Forecasts are based on the number of pupils and staff in the College at commencement of the current academic year adjusted, when appropriate, to take account of significant changes as and when they happen.

As a charity, parents have the assurance that all the income of the College must be applied for educational purposes. Tax exemption, but not exemption from VAT, is available on educational activities and on investment income and gains provided these are applied for charitable purposes. In addition, a reduction in business rates on property occupied for charitable purposes is available. The financial benefits received from these tax exemptions are all applied for educational purposes and indirectly help to reduce fees and provide bursaries.

b. Review of activities

Pupil Numbers & Fees

Educational activities across a broad range of areas were carried out at the Infant and Junior School at Aldford and at the Senior School at Saighton from ages 4 to 18. The average pupil roll for the year was 498. Year 7 intake for September 2021 was around 60 and 45 in the Lower Sixth/Year 12.

The Board considers detailed budgets at their meeting in March of each year and set the fees for the forthcoming academic year at the lowest level they consider necessary to meet the running costs of the College and provide a modest surplus to enable the continued development of the facilities. In addition, parents are encouraged to contribute, by way of annual donations of £250 towards the Bursary Fund.

Page 10

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Strategic report (continued)

Achievements and performance (continued)

Inspection

A Regulatory Compliance Inspection was carried out by the Independent Schools Inspectorate (ISI) in February 2018.

An Educational Quality Inspection, including a Focused Compliance Inspection, was also carried out by the Independent Schools Inspectorate in April 2022.

Copies of the respective reports are in the public domain and also available on the College’s website at https://abbeygatecollege.co.uk.

In the most recent report, inspectors agreed that: “The school is successful in meeting its aim to enable pupils to have the self-confidence to go forward into the changeable world with courage and compassion.”

Page 11

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Strategic report (continued)

Achievements and performance (continued)

Academic & Other Achievements

Despite a decrease in headline attainment at national level, as all schools’ results returned, post-lockdowns, to examiner assessment, as compared with school-based assessment in 2020 and 2021; results for Abbey Gate College continued to improve at both A level and GCSE.

Page 12

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Strategic report (continued)

Achievements and performance (continued)

Page 13

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Strategic report (continued)

Achievements and performance (continued)

Page 14

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Strategic report (continued)

Achievements and performance (continued)

Page 15

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Strategic report (continued)

Achievements and performance (continued)

c. Factors relevant to achieve objectives

Additional to activities undertaken to achieve objectives, parental and pupil surveys confirmed:

d. Investment policy and performance

The Charity has no endowment funds and, as the Board policy is to invest all surplus financial resources in improvements to the infrastructure of the College, there are no significant amounts available for investment. Surplus cash is placed with deposit taking institutions for short periods to maximise interest income.

Financial review

a. Going concern

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

Page 16

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

b. Reserves policy

The charitable company has total funds at 31 August 2022 of £6,193,959 (2021: £6,044,330) of which unrestricted funds are £6,180,226 (2021: £5,999,807) and restricted funds £13,733 (2021: £44,523). Of the unrestricted funds, £189,915 (2021: £200,000) have been designated to a Bursary Fund (£39,915) and a Capital Fund (£150,000). Tangible fixed assets are £5,533,315 (2021: £5,489,580) thereby resulting in positive free reserves of £456,996 (2021: free reserves of £310,227).

It is the policy of the Board to invest all available resources in the development of the learning and teaching facilities at Abbey Gate College while exercising prudent financial management having regard to the future needs of the College.

c. Principal risks and uncertainties

The Directors are responsible for the management of the risks faced by the charitable company. They identify risks and assess the impact and establish controls to minimise the effect of major risks. A formal process of review of the risks is undertaken on an on-going and no less than annual basis, with a full Risk Register maintained by the College and the Board of Governors.

Structure, governance and management

a. Constitution

Deeside House Educational Trust Limited is registered as a charitable company limited by guarantee with charity number 273586 and was set up by a Memorandum of Association dated 29 February 2012.

The principal objects of the charitable company as set out in its Articles are to promote and provide for the advancement of education and, in connection therewith, to carry on any school for the education of children of either sex. The charitable company carries on its activities through Abbey Gate College.

b. Methods of appointment or election of Trustees

The members of the charitable company appoint the Board of Directors. The Board of Directors is the Governing Body of the College and the Trustee Board of the charitable company. Board members receive no remuneration for their services as Trustees, Directors or Governors. They are legally responsible as charity Trustees, and as Directors and Governors, for the overall management and control of the charitable company and its educational establishment Abbey Gate College. The Board operates under agreed Terms of Reference and are required to confirm at each Board meeting whether or not they have any conflict of interest.

The Board meets at least once each academic term to review and approve the management affairs of the College and the Head Teacher and Finance Manager are invited to, and report at, these meetings. In addition, the Board meets as necessary without the Head Teacher and Finance Manager being present to review the affairs of the charity that do not impact directly on the College. Such matters relate principally to the succession of Board members and members of the charitable company.

The Board strives to maintain a broad range of skills within its membership and anyone expressing an interest in joining may be invited to do so by the Board. Recruitment to the Board is from within the membership of the charitable company and often follows an invitation to serve on one of the committees of the Board which enables individuals to offer advice in their particular field.

Page 17

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Structure, governance and management (continued)

c. Policies adopted for the induction and training of Trustees

An induction programme operates which involves familiarisation of new members with the organisation of the College and its affairs, clarifying their individual responsibilities, safeguarding induction and training, and ongoing attendance at appropriate external training sessions and conferences dependent on the needs identified.

d. Pay policy for senior staff

The key management personnel of the charitable company comprise the Directors and the Head Teacher. The Directors meet once a year to review salary benchmarking information relating to this position and set salary and benefit packages accordingly.

e. Organisational structure and decision making

The Board appoints a Head Teacher who is responsible for the overall leadership, management and day to day running of the College and is supported by Leadership Teams of senior and middle leaders.

5 sub-committees operate within the governing structure:

• 1) Curriculum & Learning

• 2) Pastoral & Wellbeing

• 3) Finance & Bursaries

• 4) Promotions & Communities

• 5) Estates & Compliance

Specific Terms of Reference exist for each sub-committee along with a regular routine of reporting to the Board each term.

f. Financial risk management

The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The Directors are mindful of the prevailing economic conditions and have set a revenue budget and capital expenditure plans for the year to 31 August 2023 based on tight financial management with associated fees at as low a level is considered prudent after considering the needs of the College. Significant investment in new facilities will only be undertaken when resources permit.

Funds held as custodian

No assets are held as custodian trustees.

Page 18

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the College for the purposes of company law) are responsible for preparing the Trustees' report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the College and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) 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 College will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the College's transactions and disclose with reasonable accuracy at any time the financial position of the College and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the College and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Auditors

The auditors, WR Partners, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Emma Bunting Director Date: 23rd March 2023

Page 19

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

Opinion

We have audited the financial statements of Deeside House Educational Trust Limited (the 'college') for the year ended 31 August 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 20

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion 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 Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received 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.

Page 21

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant are those which relate to the reporting framework (The Charity SORP 2019), the relevant tax compliance regulations and the General Data Protection Regulation (GDPR).

We understood how the charitable company complies with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non-compliance that might have a material impact on the financial statements.

We reviewed the susceptibility of the charitable company’s financial statements to material misstatement including how fraud may occur by meeting with key management to understand where they considered there was a susceptibly to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant estimates used in preparing the financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 22

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (CONTINUED)

We reviewed the charitable company’s regulatory environment to ensure we could conclude that it had acted in accordance with the framework relevant to the charitable company and its environment and identify and instances of non-compliance. We also assessed the charitable company’s internal control procedures to ensure we could appropriately scrutinise these controls and establish whether our understanding of the control environment was sufficient to supplement our additional testing procedures.

The engagement team consisted of a team that the engagement partner believes is equipped with the relevant level of technical and charity awareness to carry out our work to the required standard.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Malpass BA FCA (Senior statutory auditor)

for and on behalf of

WR Partners

Chartered Accountants Statutory Auditors Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Date:

Page 23

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022

Note Income from: Donations and legacies 4 Charitable activities 5 Investments 7 Total income Expenditure on: Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 18	Restricted funds 2022 £ 26,255 - - 26,255 57,045 57,045 (30,790) 44,523 (30,790) 13,733	Unrestricted funds 2022 £ - 6,711,659 1,410 6,713,069 6,532,650 6,532,650 180,419 5,999,807 180,419 6,180,226	Total funds 2022 £ 26,255 6,711,659 1,410 6,739,324 6,589,695 6,589,695 149,629 6,044,330 149,629 6,193,959	Total funds 2021 £ 48,433 6,312,263 61
				6,360,757
				5,951,688
				5,951,688
				409,069
				5,635,261 409,069
				6,044,330

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 27 to 46 form part of these financial statements.

Page 24

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 01269507

BALANCE SHEET AS AT 31 AUGUST 2022

Note Fixed assets Tangible assets 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Total net assets Charity funds Restricted funds 18 Unrestricted funds 18 Total funds	- 220,465 3,639,768 3,860,233 (2,496,699)	2022 £ 5,533,315 5,533,315 1,363,534 6,896,849 (702,890) 6,193,959 13,733 6,180,226 6,193,959	8,244 201,611 3,313,534 3,523,389 (2,092,713)	2021 £ 5,489,580 5,489,580 1,430,676 6,920,256 (875,926) 6,044,330 44,523 5,999,807 6,044,330

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Emma Bunting Director Date: 23rd March 2023

The notes on pages 27 to 46 form part of these financial statements.

Page 25

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Note Cash flows from operating activities Net cash used in operating activities 20 Cash flows from investing activities Proceeds from the sale of tangible fixed assets Capital expenditure Net cash used in investing activities Cash flows from financing activities Cash inflows from new borrowing Repayments of borrowing Bank investment interest received Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 21	2022 £ 652,497 - (252,673) (252,673) - (75,000) 1,410 (73,590) 326,234 3,313,534 3,639,768	2021 £ 1,052,727 4,154 (182,044) (177,890) 600,000 - 61 600,061 1,474,898 1,838,636 3,313,534

The notes on pages 27 to 46 form part of these financial statements

Page 26

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. General information

Deeside House Educational Trust Limited is a charitable company, limited by guarantee and incorporated in England and Wales. The members of the charity are the trustees named on page 1 of these accounts. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £20 per member of the charitable company.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the second edition of 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) (issued in October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Deeside House Educational Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

After making enquires, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements.

2.3 Income

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

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charitable company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charitable company, can be reliably measured.

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the charitable company's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the charitable company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Page 27

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

2. Accounting policies (continued)

2.3 Income (continued)

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Governance costs are those incurred in connection with administration of the charitable company and compliance with constitutional and statutory requirements.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Taxation

The College is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the College is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 28

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

• Long-term leasehold property 2% - 7% straight line Motor vehicles - 25% written down value - Fixtures and fittings 5% - 25% straight line

2.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.9 Debtors

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

2.10 Cash at bank and in hand

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

2.11 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 College anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.12 Financial instruments

The College only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 29

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

2. Accounting policies (continued)

2.13 Operating leases

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

2.14 Pensions

The College contributes to personal pension plans for non-teaching staff. Contributions to pension schemes are charged to expenditure as they become payable in accordance with the rules of the schemes.

The Teachers' Pension Scheme ("TPS") is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the College in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the College and which have not been designated for other purposes.

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

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

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

2.16 Prepaid Fees Scheme

The College operates a prepaid fees scheme and parents may, subject to contractual terms and conditions, pay to the College tuition fees in advance. The money may be returned subject to specific conditions.

Page 30

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

3. Critical accounting estimates and areas of judgment

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

Critical accounting estimates and assumptions:

The College makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

• Depreciation rates are determined based on the estimated useful life of the asset.

• Residual value estimates are based on the estimated value at the end of the useful economic life of the asset.

4. Income from donations and legacies

Donations Government Grants Total 2022 Total 2021	Restricted funds 2022 Unrestricted funds 2022 £ £ 26,255 - - - 26,255 - 12,000 36,433	Total funds 2022 £ 26,255 - 26,255 48,433	Total funds 2021 £ 12,000 36,433
			48,433

5. Income from charitable activities

Unrestricted funds 2022 £ Teaching 6,711,659 Total 2022 6,711,659 Total 2021 6,312,263	Total funds 2022 £ 6,711,659 6,711,659 6,312,263	Total funds 2021 £ 6,312,263
		6,312,263

Page 31

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

6. Analysis of income from charitable activities by type of income

Gross fees receivable Less: scholarships, bursaries and other discounts Other income from charitable activity Bursary donations Total 2022 Total 2021	Restricted funds 2022 Unrestricted funds 2022 £ £ - 6,344,011 - (262,425) - 630,073 26,255 - 26,255 6,711,659 - 6,312,263	Total funds 2022 £ 6,344,011 (262,425) 630,073 26,255 6,737,914 6,312,263	Total funds 2021 £ 6,156,211 (311,948) 447,721 20,279
			6,312,263

7. Investment income

Unrestricted funds 2022 £ Other investment income 1,410 Total 2022 1,410 Total 2021 61	Total funds 2022 £ 1,410 1,410 61	Total funds 2021 £ 61
		61

Page 32

(A company limited by guarantee)

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

8. Analysis of expenditure on charitable activities

Summary by fund type

Teaching Catering Costs Bus costs Premises Support costs of schooling Governance Total 2022 Total 2021	Restricted funds 2022 Unrestricted funds 2022 £ £ - 3,964,643 - 402,989 - 211,403 - 815,906 57,045 1,116,166 - 21,543 57,045 6,532,650 - 5,951,688	Total 2022 £ 3,964,643 402,989 211,403 815,906 1,173,211 21,543 6,589,695 5,951,688	Total 2021 £ 3,759,034 313,054 184,200 730,461 952,086 12,853
			5,951,688

Summary by expenditure type

Teaching Catering Costs Bus costs Premises Support costs of schooling Governance Total 2022 Total 2021	Staff costs 2022 £ 3,707,239 - - 142,053 537,653 - 4,386,945 4,158,253	Depreciation 2022 £ 60,748 11,948 - 130,189 6,054 - 208,939 234,476	Other costs 2022 £ 196,656 391,041 211,403 543,664 629,504 21,543 1,993,811 1,558,959	Total 2022 £ 3,964,643 402,989 211,403 815,906 1,173,211 21,543 6,589,695 5,951,688	Total 2021 £ 3,759,034 313,054 184,200 730,461 952,086 12,853 5,951,688

Page 33

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

9. Net Income/(Expenditure)

This is stated after charging:

Depreciation of tangible fixed assets: - owned by the charity Operating Lease Charges Auditors Remuneration Other Services	2022 £ 208,938 114,851 11,700 1,800 337,289	2021 £ 234,312 104,704 11,500 1,475
		351,991

10. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	2022 £ 3,403,377 355,286 628,282 4,386,945	2021 £ 3,237,178 325,326 595,749
		4,158,253

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

Teaching Staff Support Staff	2022 No. 81 28 109	2021 No. 77 30
		107

Page 34

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

10. Staff costs (continued)

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

	2022	2021
	No.	No.
In the band £60,001 - £70,000	2	1
In the band £70,001 - £80,000	1	1
In the band £100,001 - £200,000	-	1

Key management personnel received remuneration during the year of £337,401 (2021: £331,766)

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 August 2022, expenses totalling £ 823 were reimbursed or paid directly to 2 Trustees (2021 - £930 to 2 Trustees) . The expenditure related to travel expenses and retirement gifts.

Page 35

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12. Tangible fixed assets

Cost or valuation At 1 September 2021 Additions At 31 August 2022 Depreciation At 1 September 2021 Charge for the year At 31 August 2022 Net book value At 31 August 2022 At 31 August 2021 Stocks Consumables	Long-term leasehold property £ 5,266,414 17,480 5,283,894 245,510 45,374 290,884 4,993,010 5,020,904	Motor vehicles £ 105,997 - 105,997 93,242 3,188 96,430 9,567 12,755	Fixtures and fittings £ 2,180,685 235,193 2,415,878 1,724,764 160,376 1,885,140 530,738 455,921 2022 £ -	Total £ 7,553,096 252,673
				7,805,769
				2,063,516 208,938
				2,272,454
				5,533,315
				5,489,580
				2021 £ 8,244

13. Stocks

Page 36

(A company limited by guarantee)

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

14. Debtors

Due within one year Trade debtors Other debtors Prepayments and accrued income	2022 £ 132,322 7,610 80,533 220,465	2021 £ 36,185 24,902 140,524
		201,611

15. Cash at Bank

Various society, sports and similar clubs maintain bank accounts which are administered by the College.

The balance on these various bank accounts is included within cash in bank at 31 August 2022, and within creditors; amounts falling due within one year, is £34,061 (2021: £27,428). The income paid into these accounts in the year to 31 August 2022 of £7,827 (2021: £5,443) is not income of the College and is therefore not included in incoming resources within the Statement of Financial Activities. The expenditure from these accounts was £1,194 (2021: £546) in the year.

16. Creditors: Amounts falling due within one year

Bank loans Fees in advance Trade creditors Advance fee contracts Repayable deposits Other taxation and social security Other creditors Accruals and deferred income	2022 £ 150,000 1,317,745 120,492 37,990 18,000 263,616 405,676 183,180 2,496,699	2021 £ 75,000 1,527,307 70,634 68,659 18,000 77,368 148,232 107,513
		2,092,713

Page 37

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

17. Creditors: Amounts falling due after more than one year

Bank loans Repayable deposits Advance fee contracts	2022 £ 375,000 303,415 24,475 702,890	2021 £ 525,000 288,460 62,466
		875,926

The bank loan is secured against a legal charge held by Natwest over the leasehold property of the charitable company.

Advance Fee Contracts

Certain parents have entered into contracts to discharge, under certain conditions, the equivalent of up to severn years' tuition fees in advance. Amounts received from advanced fee contracts are included in cash at bank and are dealt with as unrestricted funds. Assuming the pupils concerned remain in College for the expected academic years, advance fees will be applied to fee income as follows:

Movements in the year were:

Balance at 1 September 2021 Amounts received in the year Amounts utilised in the period in settlement of fees Amounts accrued to contract as debt financing cost Balance at 31 August 2022	2022 £ 131,125 - (68,660) - 62,465	2021 £ 82,232 80,167 (31,274) -
		131,125

Page 38

(A company limited by guarantee)

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

Repayable Deposits

Deposits are taken when pupils commence their education at the College and are repaid when the pupils leave. Hence, the College recognises the asset and the liability in the balance sheet. Assuming the pupils remain in the College for the expected academic years the deposits will be repaid as follows:

Amounts repayable within one year Amounts repayable between 1 to 5 years Amounts repayable after 5 years	2022 £ 18,000 74,000 229,415 321,415	2021 £ 18,000 74,000 214,460
		306,460

Page 39

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

18. Statement of funds

Statement of funds - current year

Balance at 1 September 2021 £ Unrestricted funds Designated funds Bursary fund 50,000 Capital fund 150,000 200,000 General funds General Funds - all funds 5,799,807 Total Unrestricted funds 5,999,807 Restricted funds Restricted Funds - all funds 44,523 Total of funds 6,044,330	Income £ Expenditure £ - (10,085) - - - (10,085) 6,713,069 (6,522,565) 6,713,069 (6,532,650) 26,255 (57,045) 6,739,324 (6,589,695)	Balance at 31 August 2022 £ 39,915 150,000
		189,915
		5,990,311
		6,180,226
		13,733
		6,193,959

Page 40

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

18. Statement of funds (continued)

Designated funds

Bursary fund - Over the last 40 years the provision of bursary places has transformed lives, enabling pupils from all backgrounds to follow their dreams and become the person they want to be. The Abbey Gate College Bursary Fund provides children with the opportunity to realise their individual potential through an outstanding education, regardless of financial circumstances.

Capital fund - The Capital Fund was established in 2021 and has been set up to fund capital purchases and developments over the next 5 years. The college are looking to improve the school facilities in order to enhance the learning of pupils. Proposed projects include enhancing the refectory at the senior school, improving the sixth form provision and extending the science laboratories.

During the year £10,085 (2021:£nil) was expended in relation to the Bursary Fund.

Restricted funds

Restricted income includes donations received during the year of £26,255 (2021:£12,000) for the development of teaching facilities and bursaries. £57,045 (2021:£nil) was utilised during the year to support pupils through the bursary scheme. The restricted fund balance for teaching facilities and bursaries is £nil (2021:£30,790).

£nil (2021:£nil) of the £10,000 restricted donation received in 2014/15 was expended for visits to the Royal Philharmonic, with £3,800 remaining. The restricted fund also includes £9,933 for a variety of purposes.

Page 41

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Bursary fund Capital fund General funds General Funds - all funds Total Unrestricted funds Restricted funds Restricted Funds - all funds Total of funds	Balance at 1 September 2020 £ - - - 5,602,738 5,602,738 32,523 5,635,261	Income £ - - - 6,348,757 6,348,757 12,000 6,360,757	Expenditure £ - - - (5,951,688) (5,951,688) - (5,951,688)	Transfers in/out £ 50,000 150,000 200,000 (200,000) - - -	Balance at 31 August 2021 £ 50,000 150,000
					200,000
					5,799,807
					5,999,807
					44,523
					6,044,330

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(A company limited by guarantee)

DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total	Restricted funds 2022 Unrestricted funds 2022 £ £ - 5,533,315 13,733 3,846,500 - (2,496,699) - (702,890) 13,733 6,180,226	Total funds 2022 £ 5,533,315 3,860,233 (2,496,699) (702,890) 6,193,959

Analysis of net assets between funds - prior year

Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total	Restricted funds 2021 £ - 44,523 - - 44,523	Unrestricted funds 2021 £ 5,489,580 3,478,866 (2,092,713) (875,926) 5,999,807	Total funds 2021 £ 5,489,580 3,523,389 (2,092,713) (875,926) 6,044,330

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DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Interest income Loss on the sale of fixed assets Decrease in stocks Decrease/(increase) in debtors Increase in creditors Net cash provided by operating activities 21. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 22. Analysis of changes in net debt At 1 September 2021 £ Cash at bank and in hand 3,313,534 Debt due within 1 year (281,659) Debt due after 1 year (813,460) 2,218,415	2022 £ 149,629 208,938 (1,410) - 8,244 (18,854) 305,950 652,497 2022 £ 3,639,768 3,639,768 Cash flows £ 326,234 (312,007) 135,045 149,272	2021 £ 409,069 234,312 (61) 568 3,211 5,160 400,468 1,052,727 2021 £ 3,313,534 3,313,534 At 31 August 2022 £ 3,639,768 (593,666) (678,415) 2,367,687

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DEESIDE HOUSE EDUCATIONAL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

23. Pension commitments

Pension Arrangements

The College offers membership of defined contribution "Stakeholder" schemes to non-teaching staff. The contributions to these schemes for the year to 31 August 2022 were £32,603 (2021: £18,121) and the amounts payable at 31 August 2022 was £21,264 (2021: £nil).

Teachers' Pension Scheme

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers' Pension Scheme Regulations 2014. Membership is automatic for full-time teachers in academies. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The Teachers' Pension Budgeting and Valuation Account

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:

• employer contribution rates set at 23.68% of pensionable pay (including a 0.08% administration levy)

• total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £218,100 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £196,100 million, giving a notional past service deficit of £22,000 million.

• the SCAPE rate, set by HMT, is used to determine the notional investment return. The current SCAPE rate is 2.4% above the rate of CPI, assumed real rate of return is 2.4% in excess of prices and 2% in excess of earnings. The rate of real earnings growth is assumed to be 2.2%. The assumed nominal rate of return including earnings growth is 4.45%.

The next valuation result is due to be implemented from 1 April 2023.

The pension costs paid to TPS in the year amounted to £595,547 (2021: £577,628) and the amounts payable at 31 August 2022 was £280,107 (2021: £nil).

A copy of the valuation report and supporting documentation is on the Teachers' Pensions website (www.teacherspensions.co.uk/news/employers/2019/04/teachers-pensions-valuation-report.aspx).

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The College has accounted for its contributions to the scheme as if it were a defined contribution scheme. The College has set out above the information available on the scheme.

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DEESIDE HOUSE EDUCATIONAL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

24. Operating lease commitments

At 31 August 2022 the College had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years	2022 £ 153,039 463,938 881,925 1,498,902	2021 £ 104,923 382,960 962,100
		1,449,983

The following lease payments have been recognised as an expense in the Statement of financial activities:

	2022	2021
	£	£
Operating lease rentals	114,851	104,704

25. Related party transactions

During the year, 2 Directors received reimbursement of expenses in the amount of £823 (2021: £930 relating to 2 Directors), relating to travel costs.

During the year, one child of one Director and four grandchildren of three other Directors attended the college (2021: two children of one Director and five grandchildren of three other Directors). Fee discounts are awarded on the same basis as available to other parents.

26. Controlling party

The College, having no share capital, is under the control of the Board of Directors, who are also the Trustees of the College.

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