Charlty règlstratlon number 286347 Company roglstratlon number 00705392 {England and Wales) MAYVILLE HIGH SCHOOL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 MAYVILLE HIGH SCHOOL LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms V SkL)nie¢zna ICh8irl Ms T M Riordan Mr A Porter The Reverend Canon Dr A Ruslell Drs Hookway Mr J D8venport Mr P Foidey MrA Pillai {AppDinted 8 June 20231 {AppDinled 25 May 20231 Charity numb•r 286347 Company number 00705392 Registered offie• 35-37 Sl Simon's Road Soulhsea Hampshirè P05 2PE Audltor Surner Audit Piper House 4 Dukes Court Bognor Road Chichesler Wesl Sussex P019 8FX Solicltors Biseoes Cousins Groves Kingsion Place 6248 Kingston Crescent North End Portsmouth P02 8AQ Stone King LLP Boundary House 91 Chart8rhous8 Stmt Barblcan London EC1M 6HR MAYVILLE HIGH SCHOOL LIMITED CONTENTS Pagè Trustees, report Stat&m&nt of trustees, responsibilities Independent auditor's report Slalemenl of financial 8¢livlllas 10 Balanc& sheet 11 Stat6m6nt of cash Ilows 12 N(>tes to the financial statements 13-25 MAYVILLE HIGH SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2023 The trustees prgsgnt their annual report and finarKial statements for the year ended 31 Augu812023. Th& flnanclal statements have beèn prepared in accordance with the accounting policies set out in note 1 to the financi81 statements and compty with thè charitls deed of Irusl, the Companies Act 2006 and Accounting and Reporting by Charitles.. Statement of Recommended Practice applicable lo Charities prèparing their accounts in accordance with thè Financial Reporting Standard applicab￿ in the UK and Republic ol Ireland IFRS 1021" leffective 1 January 20191. Obl￿tIveS and actlvltles Thè Trustees are responsibl8 for sètting a stralegy for achieving thè objectives they have set and the focus of this strategy is the develtsprnent of our pupils and in doing 50 we: Review the Seh(x)Is academic syllabus and teaching practices and pollcles,. Ensure that the range ol co-curricular activities availablo to our pupSls are slimulaling and challènglng., Invest in technology and thè Infrastructure ol the school., Co-operate and share resource5 wlh other organisalions. Continue lo review and develDP our methods for awardlng bursaries and scholarshSps to &nsure wider access lo pupils from all backgrounds. Our Ethos is that of a caring school where every pupil is an individu81. The School welcomes pupils from all backgrounds. To admit a prospectiv& pupll we need to be satisfied that ouf School will bts ablè to educate and develop a prospèctiv6 pupil lo the best of their potential. Entrance interviews and assessments are undertaken to satisfy ourselves and paren18 that the pupils can cope with the pace of education we provide. Our Alms The objects of the School arè the advancement of education of boys and girls and in particul8r lo maintaln a boys and girls day ￿h0o1 in Soulhse8, Hampshire. Wè aim through our Junitir and Senior Schwls lo wovide a first class education lo boys and girls from the ages of 2 Its 16. We seek lo prowde a structured educational &nvironmenl thal develDPS our pupil's ¢apabS1ill6s. competences and skllls. We promote the academi¢. moral and physical developmènt ol our pupils through our academic curriculum, pastoral ca￿, sporting and other activities. We provide an educational environment where each sludant can develop and fulfil hls or her potential, building thèir se51-confidence, which will enable them lo contribute lo th wlder community. In doing so, we prepare our pupils for the opportunities, responsibilities and experiences of later Our ObSo¢tlvès In setting our objectives the Trustees have been given ¢areful consideration lo the Charity Commissions guidance on advancing education and fgè charging. The objectives refi￿t our educational aims a8 wtsll as the general ethos ol the Schotsl. Our key objectlV8s for year includ8'. To contlnua to provide and dèvelop a first class education for thè pupSls of the School by providing high academic standards., Where il is Ihouoht to be beneficial lo the puplls to provide separatè classes for boys and glrls undersianding the btsnefils that are achieved by integr8lion'. To maintain an oplirnurn number of pupils to ensure each ¢lass Is provKling the stimulus and opportunity lo each pupil lo develop both inlelleclually and S￿ially., MAYVILLE HIGH SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 In ac¢ord8nce with the Charity Commission yuidelines on public benefit., To continue to SLJPPOrt and assist pupils with ftse bursarles Bnd scholarships of up to 100°k' To develop liaistsns with othèr schooks and organisalions by sharing resour¢8s and facilities,. To improve and increase the fa¢ililie5 aV8ilable to pupils and staff., To continue a programme of planned maintenance of the buildings used by the School.. To continuè to support other charities not only by donations bul by organising trips abroad where th8 pupIIs have the opportunity to directly assist with the charltsble work undertaken. publ￿ b&nellt The trustees have paid due regard to guidance issued by th8 Charity Commissitsn In deading what activities the charity should undertake. Achlevements and performance Swnificanl aclivi1198 and achiev&ments againsl objectives The academic performance of all pupils is carefully monltored to ensure that each child will fulfil their potential. 2023 saw the departing Year 11 pupils achieve an 87.4tsA ovèrall pass rate {England average 67.8Y.l. Th8 pass rate In core subjects was 91%. Our hlgh value-added scores see purxls eonlinue to exceed expectslion8 each pupil, on average, gained 10.4 higher grades. measured against expected. As an InclLJsive schoo1, we strive to ensure that no child Is left behind and th81 all pupils aehlave their own personal b851. In 2023, the pass rate lor pupils with special educational needs was 79°A. Measured ag8in$l èxpected perfomance, pupi18 with SEN each galned elght higher grades, on averag6. During the ye8r, the School developed a specialist learning support centre, Wyvern Housg, which successfully opened in Sept8mb6r 2023. The centre was designed to provide an outstanding education 8nd wÈllbeing experience, for pupils aged belween 8-16. It is staffed by 8 multidisciplinary team. providing specialist teaching and mental healih counselling. Thg pupils who use the facility often have EHCPS and l or need SEMH provision. Thts Head Teacher, Mrs Rebecca Parkyn MA (Oxon) PGCE MCIL, NPQEL and her staff (x)ntinLJe to provide the security and opportunities lor each child so that they may undertake their studies and development In a safe, happy environment. Thè Trustèes are grateful lo the staff lor their dedication lo the School arKI the way In whid) they project forward the reputation ol thè school and instil confidence In the pupils who attend. The Trustees are fortunate to have the support of past pupils and an act￿e PTA who assi8t the School in many W8yS. The School continues to be involved in managlng projecis through the Cocklesh611 Communlly Sports Club providing sportlng facilities tD the community. Fsn?ncial revlew This has been a further year of grtswlh for the School, with an inor8as& in pupll numbers tts 4731202112 4531 helplng to generate a nel unrestricted surplus of £258,26612022123 nel deficit £13,207). Thls has allowed the Trustees lo meet the School's eosts from income, and contributé lo substantial developments and improvèmènts across the School's propety assets. Investment in the current year totalled £1.270,114 1202213 £80,528), the majorlty part relating to Wyvern House. DLJrlng the year the Trustees further authorlsed expendituie of £123,504 12021122 £59.4411 on Equipment and Facilities. In aC￿rdanCe with its charitable objects the Sehool has continued lo offer scholarships and assisted places lo pupils who rnight not otherwise benefit from the outstanding education and facilities availablè at Mayvllle. During the year £249,8741202112 £262,370) was aw8rded in mèans-tested lee assistance lo 461202112 461 pupils. To further broaden access, scholarships are awarded each yèar to recognise achievement and contribution lo the Schoo5. Scholarships worth £435,757 were awarded during the year 1202112 £366,810). to 98 pupils 1202112 821. Tha School has additionally supported outsidg charities both home and abroad, and assisted with w￿k in the local community. MAYVILLE HIGH SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Reseryes polKy It is the ptsliey of ihe charity that unreslricled funds which have not been designated lor a specific use should be maintained al 3 level equivalent lo beiween three and six month's expendllure. The Iruslees consider that reserves al this level will ensure that, in Ihts event ol a significant drop in funding, they will b8 ab18 to continue the charity's currenl activities while consideration is given to ways in which additional funds may be raised. This level of r&serves has been malntained throuohoul the year. Plans for future periodj During th8 next year the school plans to continue lo build on the strengths identified in the ex￿lIent Independent SchLX)Is Inspectorate and Crested inspections that look pl8c& In January 2020. Thls is incorw)rated Into the SCI￿01 Development Plan. Thls is only possible due lo thè conunued support of Mayville families and we are gra¢efuS foi this. The school will continuè to review facilities, equipment and buildings lo ensure Ihey meet the requirements of the pupils. Structu￿, governance and management The charity is controlled by its goveming document a d8ed of Irusl, and con$lilul6s 8 Ilmlted company. limlted by shares, as defined by the Companles Acl 2006. The trustees, who are also th8 d1￿ctOrS for the purpose of company law, and who strrved during tha yèar and up lo Ihe date ol signature ol the financial slalernents were: Ms V Skonieczna (Chair} Mr J W Deibel Miss S R Hardie Ms T M Riordan Mr A Porter Thè Reverend Canon DrA Ruslell Dr S Hookway Mr J Davenport Mr P Goodshlp Mr P Fairl8y MrA Pillai (Resigned 3 February 20231 (Resigned 7 Novtsmbar 20221 (Appointed 9 February 2023 and resigned 23 June 2023} IAppg4nted 8 June 20231 IAppc)inted 25 May 20231 Recruilmenl and 8ppoffntmènl oftrustees The Trusle&s are selected from Ihe local community and from p8r8nts or past parents and are appointed for their knowledge ol the educ81ion system and their experience in business and industry. The Trustees are provlded with suitaNe information and training to 8nabSe them to be satisfied that they can fuWIl their dulles. The Trustees have no beneficial interest In the shBre CBPital ol the company. The Board 8r8 plèased to welcome three new member8 to the Board and will in the year ahead be making further appointments lo ensure a broad spread of knowledge and exp8rti80. MAYVILLE HIGH SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT} ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Organi$8llon81 slmctu The Trustees are responslble for Iha overall management and Control of thè School and meet r8gularty to implement thdr poll¢le$ regarding lh& runnlng and development of the School. At Trusiee meallngs a revlew of the work undertaken by Ihe School 1$ ￿nsIdered discussed. De¢islons regarding policy and exponditure artr mada on a rn8jorlty basis. The ¢Jay to doy Funnlng of Ihe schLx>l Is delegats¢J to the H•ad and Sènlor Managemènl Staff. Th* Head undértakes Ihe k8y leader8hlp rolo ov8r6eekn9 8ducalion81, pastoral and adminlstratton funcknns in consultalion with th8 senior staff. Audltor In accordan¢o with the company's artides. a resolulim proposing th81 Sumer Audil bo f8appolnt8d a5 audltor of the company wlll be pul $1 8 Gener81 Meatlng. The lru8le&s' reportwa$ approved by Ihg 8oaTd ol Tru$t99S. M$ V Skonie¢zn8 (Chai Tru•t•• Dale.. MAYVILLE HIGH SCHOOL LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2023 The tru8t99s, who are also the directors ol Mayville High School Limited for the purpose of company law, are respo>nsible for prepBring the Truslee8' Rèport Bnd the financial slalement8 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAccepled Accounting Practice). Company Law requires the trustees to prepare financial st8lemtrnts for each financial year which give a true 8nd fair view of thè state ol affairs of the chaTlty and ol the incoming resourc85 and application ol resources, In¢ludlng the income and expenditure. of the charitable wmpany for that year. In preparing these financial statements, the Iruslèès are required to.. $8lèct suitable accounting pollclès and then apply them c(x)slstently' observe the methods and principles In the Charities SORP., make judgements 8nd estlmates that are reasonable and prudent., slatè whethèr applicable UK Accounting Standard8 have been followed, subject lo any maler181 departures disclosed and explained in the financlal statemenls-, and prepare the fin3nckg1 statements on the going concern basis unless it is inappropriate to presume that the ch8rlty will continue in operation. The trustees are responsible lor keeping adequate accounting records thal disclose with reasonable accuracy al any lime the finanryal position of the charity and enable them lo ensurè that the financial statements Comply with the Companies Act 2006. They are also re5pon$iblè for safeguarding the assets ol the charity and hence for laklng reasonable steps for the prevention and detection of fraud and other irregularities. MAYVILLE HIGH SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MAYVILLE HIGH SCHOOL LIMITED Opinion We have audited the financial statements of Mayville High School Limited Ilhe 'charlly'l for Ihe year ended 31 August 2023 which comprise th& stalemenl ol financial aclivilies, Ihe balan￿ sheet, the slalemenl of cash flows and notes lo the financlal Statements, including significant accounting policies. The financial reporting framework that has been applied in iheir preparation is applicable law and United Kingdom Accounting Stand8rds. Including Financial Reporting Standard 102 The Finano&l Reporting Standard 8ppli¢&ble In Ihe UK and RepublNe of Ireland IUnSted Klngdom Gentsr8ltyAccepled Accounting Practice}. In our opinion, the financial staletnenls.. give a true and fair view of the state ol the charitabl8 eompany's affairs as al 31 August 2023 and of ils incoming resources and application of rasources. for the year then ended.. have betsn prope¥ly prepared in a¢¢ordance with United Kingdom Generally Accepted A¢counling Practice; and have been prepared in accordan¢& wlth Ihe requirements of the Companies Act 2006. Basls for opinion We conduoled our audit in accordance with International Sland8rd$ on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards ar6 further described in the Auditors responsibFlilies for the audit of Ihe financial slalemenls Section ol our report. We are independent of the ¢harfly Sn aecordance wlh the ethlcal requirements that are re18vanl lo our audit ol the financial statements in the UK, including the FRC'S Ethical Standard, and ￿ have lullilled our othèr ethical responsibiliti85 in accordanTr with th8se requirements. W8 belitsve that the audit evidence we have obtained is suffiuent and appropriate to provkje a basis for our oplnlon. Conclu$lon$ rèlatlng to going eonc•rn In audltlng Ihe financial slalements. we have ¢oncluded that the trustèès, use ol the going con¢ern basis of accounting in the preparation of the financial stalernenls is appropriate. Based on the work w6 have perforrn8d, w8 havè ntst identified any material uncertainties relating to events or conditions that, Individual￿ or collectively, may cast slgnificanl doubl on the charity's ability lo continue as a going concern fr)r a period of at ltrast ￿e1ve months from wh$n the financial statemènts are authorised for issue. Our responsibilities and the resp)nsibilities of th8 trustees with respect lo going concern are describèd in the relevant sections ol this report. Other informatlon The other information comprises the information included In ihe annual rtsport other than the financial statements nd our auditor'$ report thereon. The trustees are responsibl& lor the olher inforrn81ion contained within Ihfy annual Igport. Our opinion on the financial slal8tn8nts does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, considér whether the other information Is materially inconsislenl with the fin8ncial statements or our knoMdedge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or appar8nt material misststemenls. we are required to determine whether this gives rise to a material misslalemenl In the finan¢i81 statements Ihemstrlves. If, based on thè work we have performed, we conclude Ih8t there is a material misslalement of this other inft)rmation, we are required tr) report Ihat fact. We have nolhlng to report in Ihls rggard. Opsnlot)s on other matters prescrlbèd by tho Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit., the information given in the trustees. repL)rt, which includes the directors. report prèpared for the purposes of cornpany law. for the finanelal year for which thè financial stalem8nts are prepared is consistent with the finanelal statements,. and th8 directors. report and strategic r&port induded withln the truslees. report has been prepared in accordance with applicable legal requir&monts. MAYVILLE HIGH SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MAYVILLE HIGH SCHOOL LIMITED M8tt&r$ on whlch we are rgqulrod to report by exeeption In the lighl of the knowledge and understanding ol the charity 8nd its environment obtained in the course of thè audit, we have not identified material misslalernenls in the directors. report included wllhin the Iruslees, rèport. W8 have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and RgPOrt51 Regulations 2008 require us to report lo you if, in our opinion: the information given in the financial statements is inconsisl&nl In any material respect wllh the Iruslees, report., or sufticient accounting records hav8 not been kepl.. or the financial statements are not in agreement with the 8¢counting records- or we havè not received a11 the information and explanations we require for our audit-, or adequale accounting rècords have not been kept. or returns adequate for our audit have not been re￿iVed Irom branches not visited by us.. or the truslees were not entitled to prepare the financial slaternenls in 8¢¢ordance with the sm811 companies regime and take advantage of the small comp8nlos' exèmptions in preparing the trustees, repoTrrt and from the requirement tr) prepare a slralegie report. Responslbllitles of Iruslees As explained more fully In the statement of trustees. responsibilitiès. Ihe truslees, who are also the directors of the ch8rily for the purpose of company law, are r8sponsible for the preparation ol the financial ststements and for being satisli8d that they give a true and fair view, and lor such internal control as the trustees determinè is necessary lo enable the preparation ol financial statements Ih8t arè free from material misstatement, whether due to fraud or error. In pieparing Ihe financial statements, the trustees are responsible for assessing the charity's abllity lo Continue as a going concern. disclL)slng, as applicable, mallars relaled to going ¢onc8rn and using the going ¢oncern basis of accounting unless the trustèes eilher intend to liquidate the charitablè company or to ceas operations. or have no ￿alIStIC alternative bul to do so. Audltor's respon8ibililles lor the audit of the financial slalements We have been appointed as audilc>r under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our obje¢tlves are lo obtsln reasonable assurance about whelh8r the financial slalements as a whole are freè from material misstatement. whether due to fraud or error, and lo issue an auditor's report Ihot Includes our opinion. Reasonable as8urance is a high level ol assurance but Is not a guaranleg thal an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individLJally or in the 8ggregate, they could reasonably be expected lo influence the eGonomlc decisions of users taken on th6 basis of these financial statements. MAYVILLE HIGH SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MAYVILLE HIGH SCHOOL LIMITED IdentifieotKon and assesBmènt of Irregularitlas Includlng fraud Irregularities, including Iraud, are instances of non-compliance with laws and regulalions. We design procedures in line with our responsibilities, outlined above, to delect material misstalemgnts in respect ol irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularilie8. including fraud, is detailed below.. wtr focused on specific laws and regulations which we considered may hav8 8 direct material effect on the financial statements or the operations of the charity, including The Companies Act 2006 and The Charitios Act2011. W6 obtained an understanding of the legal and règulatory framework app11cab1e to the enlily and how the entity is complylng with that framèwork by making appropriate enquirès of management as well as considering the inlgrnal controls in place to mitigate risk ol fraud and non-compliance with laws and regulations., we made tsnquSres of thos& ¢h8rged with govamance and managtsmenl ¢onceming' the risks of IraLJd', • insiances ol non-COm￿lance wth laws and regulatlons or knowledge ol aclual. susp8¢ttrd, or alleged fraud is tlocumented during tho perlod., we allocated an engagernenl team that we considered collectively h8d the appropriate ¢ompelence and capabilities lo identify and recognisa non-compliancè with laws and regulations. As a result of these procedures, we considered the opportunities and incentives that may axist within the charitable company for fraud. We are also raqulred lo perform specific prO￿dureS to respond lo the risk of management overrida. As a result of performing Ihe above, we identified the fcillowiw areas as those most likely to have an impact on the financial ststements.. compliance with the UK Companies Act and Charitiès Act. Audlt response to tha risk ol irregularitles including fraud Based on the iesults of our risk assessment, our procedures includtsd. bul were rK71 limlted lo.. performing analytical procedurès to identify any unusual or unexpocted relationship. evaluating whether the selection and applieation of accounting policies by thg anlity that may bts indicative of fraudultrnt financial reportlng resulting from management's efft)rt to manage earnings. assessing whether judgements and assumptions made in determining the accounting estimates sel out in nole 2 were Indl¢ative ol pol8ntial bias. agreeing fi'nancial statement disclosures to underlying supporting d￿UMentation. reading the minutes of meellngs of those tharged with govemanc8. reVIe￿ng the correspondence with rolevant regulatory bodies. testing of Journal entries to address the risk of fraud through management overrlde. ineorporaling an element of unprediclabilily in the selection of the nature. timing, and extent of our audit procedures corroborating the busSn&ss ralionalg for transaction5 how ihey may bo u86d. The Furposès and uses of thè restricted funds are set out in th& notès to the finan¢lèl st8tèm&nts. 1.4 Incom Income is recognised when the charity is legally entiU8d to it after any performance condition8 have been mel, thè amounts be measured reliably, and il is probable that income will be r8C8ived. Cash donations are recognlsed on receipt. Other donations ar8 recognised once the Charity has been notified of the donallon, unless performance conditions require deferral ol the amount. In¢(>me tax recoverabla in relation lo donations re￿Ived under Gift or de8ds of covenant is recognised at the tima of Ihe donalion. 1.5 Expenditurè Expendllure is recognlsed once there is a legal or constructive obligation to transfer economic benefit lo a third pariy, it is probable thal a transfer of economic benefils wlll be required In sètllemenl, and the amount of the obligallon Can be m&8surèd reliably. Expenditure is dassrfied by activity. The costs ol 88ch activity are made up ol the total Of direct costs and shared costs, includlng support costs involved in undertaking each activity. Direct costs atlributeble to a singlè activity are alloca18d directly to that activity. Shared costs which contribute lo more than onè aclivity and support eosts which are not atlribulablè to a single activity are apportioned bètween those activities on a basi8 consistènt with the us8 of resources. Central staff costs are allocated on the basis of lim8 spent, and depreciation charge8 are allocated on the ￿rt10Th ol th8 8SSet's use. 13- MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng poll¢lès Icontlnuedl 1.6 Tangibl8 fixèd assets Tanglble Ilxed assets are Inltlally measured 81 cost and subsequently measu￿d al cost or valuation, net of depr8Clation and any impairment losses. D&preelaUon Is recognised so as lo write off thè cost or valualiDn of assets their residual values over their useful livès on the followiro bases.. Freèhold land and buildin9S Leasehold land and buiklings Property improv8ments Fixtures and fittings Minibus 2% on cost per annum 2% on cosl per annurn 2% on cost p8r annum 100°k on cost per annum 25% reducing balance per annum The gain or10ss ari$lng on th& disp0581 of an asset is determined as the difference between the sale proceeds and the carrying valug of the asset, and is rècognksed in the slalemenl of finanaal aclwilies. 1.7 Impalrment of flxed assats At each reporting trnd date, the charity rèviews Ihe carrying amounts of its tangible 8556ts lo delermine whèther there is any indication that Ihosfy assets have suffered an impairment bss. If any such indication exis15, the recoverable amount of the asset Is estimated in order to d818rmine the exlenl of the itnpairmenl loss lif any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held al c311 vlth banks, other short-larm Ilquid investments with original malurilies ol three rnonlhs or less, and bank overdr8fts. Bank overdrafts are shown wlthin borrowings in current liabili1185. 1.9 Financlal Instruments The charity has elected to apply the provlslons of Section 11 'Baslc FSnancial Inslrumènls, and Section 12 'Othef Finandal Inslrurn&nls Issues, of FRS 102 to all ol its financial instrumènts. Financial instruments are recognk%8d In the charity's b818n¢è sheet when the charily becomes party to the contractual provisions of the inslrument. Financial assets and liabilitles are offset, with the nel amounts prgsented in the financial $t8tements, when there is 8 ltrgally enlorce8bl8 right to set off the rectsgnised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultsneously. Baslc flnanclal ?ss•ts Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortiS8d ¢ost using Ihe effectiv8 inlere8t melhryj unless the arrangement constitutes a financing Iransaction, where the iransaclion 18 measured at the present valu8 ()f the luture r￿eIptS discounted at a market rate of ir)leresl. Flnancial assets classified as receivable within one year are not 8morlised. 14- MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcles Icontlnued) Baslc financial Ilabilities Basic financia5 liabilitie5, including creditors and bank loans Bre initially recognised at Ir8nsaclion price unlesg the arrangement conslilules a financing transaction, wherè the debt instrument is measured al the present V8lue of the fulurts payments discounled at a market rale of interest. Financlal liabilities cl3ssifled as payablè wslhin one year arg not amortised. Debt instruments are subsequently carried at amorti$èd cost. using the effective inltsrest rate method. Trade creditors are obligations lo pay for goods or services that have b8en aequired in the ordinary course of OP8rations from suppliers. Amounts payable are dassified as current liabilities if payment is due within ona year or less. If not, they are presented as non-currenl liabilitiès. Trade creditors are recognised initially at transaction prlce and subsequently measured at amortised cost using the effective interest Meth￿1. Derèeognltion of Ilnancial Ilabllltles Financial liabilities are derecoonised when the charity's conlractu81 obllgations expirè or are dis¢h8rged or cancelled. 1.10 Taxation Th& charily Is exempt from corporation tax on its charitable aclivi11oS. 1.11 Employee benaflts The cost of any unused holiday enti118mgnl is recognised in the p8riod In which the employee's S8￿CeS are recalved. Terminallon benefits ar6 recognisèd Immediately as an expense when the ¢h8rlty is demonstrably commilléd lo terminatè the empk)ymÈnt ol an employee or lo provide terminatlon benefits. 1.12 Retir¢ment benefits Payments lo defined conlrlbutlon reliremanl benefit sd)emes are charged as an expens8 as they f811 due. Critical #ecounting estlmates ¥nd ludgements In th8 application of the charily's accounting policies, th8 trustees arè reqkjlred to makè judgements, èstimates and assumptions aboul the carrying amount of assets and liabilities Ih8t are nol readily apparer)I fr(>m other sources. The eslimales and associated assumptions are b8sed on historic81 experience and other laclors that are considèred to be relevant. Actual results may dlffer from these estimates. The estimal8s and undèrlying assumptions are ieviewed on an ongoing b8sis. Revisions to accounting eslimales are recognised In the peritsd In which th$ estlmale is re￿Sed wher8 the revision affects only that period. or in the period of the revision and future p8riods where the revision affects bolh currtrnl and futurè periods. Income from donatlons and lègacies Unrèstrlctod R•strlcted funds funds 2023 2023 Total Unrèstrlcted Rèstrlcied fund5 funds 2022 2022 Total 2023 2022 Donallons and gifts 52 405,482 405,534 15- oW)C40¢0￿v %v)Om¢Dr ooor> ¢r> rri Its U)m ¢D ¢D- )INr(0￿ ¢0 ts) O) In DJ r O)Nrr J * * r L) U) Ci <£ (o w rts ro o) ￿ o) MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Charitable activit5*$ Icontlnuedl For tha yèar èndad 31 August 2022 S¢hoolfee$ Other educatlDnBI Income Catérlng and Othar Incom8 welfare incorne Total 2022 School fees Prwale tuStlon income AfterschocA clubs Bursaries, discounts an¢J 8¢holarshlps Exam fees MHS Online Catering and welfare Other incom 4,640,996 4,640,996 179,730 62,005 179,730 62.005 1867,8331 1867.8331 14.760 13.416 116,226 106,951 14,760 13,416 116,226 106,951 3,773.163 269,911 116,226 106.951 4,266,251 Analysis by fund Unrestricted lunds 3.773,163 269,911 116,226 106.951 4.266,251 Perfomiance related grants Bursarie5 and allowancas Scholarships Slbllng discounts Staff discounts 1252.3701 1366,8101 1133,45Ql 1115,2031 {252.3701 1366,8101 1133,4501 1115.2031 1867,833) 1867,8331 Incomè from Inv•stmènts Unr&strlctèd Unrfrstrlcted funds funds 2023 2022 Interest receivable 17.034 2,195 17- its u> (N 0> o o its it) r Cl f 0 O co Lrj ri In o r If) fry* in o ¢D(W ￿ ¢0 ￿ r m co rto> G> ¢0 (n Orrtoj (N ￿ ¢D LTJ .15 1 ail Il MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Grants payablè Premisès 2023 Premise$ 2022 Grants lo institutions.. Cockl&shall Community Sports Club 20.000 Support easts allocated to actlvities Teaching costs 2023 Total 2022 staff Costs Depreeiation Printing & Stationery Poslage & carriaga Telphone Advertising General insurances Licences & subscriptions staff training Computer expenses Aftercare expanses DDnations & charitable paymgnts Governance 272,205 170,554 42,940 2,552 5.571 80,603 44,731 21,946 14,703 88,211 12,626 12,000 132,577 224,193 106,858 44.813 2,340 61.969 39,398 12,912 5,909 58,749 17.616 12,000 119,303 901,419 706.060 2023 2022 Governance costs ¢omprlse: Audit lees Accountancy Legal and professional ISI Inspections Sundry expenses 9,702 8,088 111.843 2,944 11,520 7.608 94,698 4,765 512 132.577 119,303 Trustees None ol the trusle8s lor any parsons connected with them) received any romuneration or bgnèfits from thè charity durfng the year. 19- MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Tru$tè•s Icontlnugdl ND expenses ware reimbursed lo Iruslees during the current or comparativ8 period. 10 Employèès The average monthty number of employees durlng Ihe year was.. 2023 Number 2022 Number 119 105 Employmènt costs 2023 2022 Wages and salaries Social se¢LJrlly costs Other pension costs 3,088,075 264,183 154,589 2,78S,626 234,682 142,463 3,506,847 3,162,771 The numbor ol employgès whose annual remuneration was more than £60,000 is as follows: 2023 Number 2022 Number £80,001- £90,000 .001- £100,000 11 Othèr costs Unrestrlcted Unrestricted funds funds 2023 2022 Bad d&bts Financing costs 20,113 4,943 12,1951 5,164 25.056 2,969 12 Tax•tlon The charlty Is exempt from taxation on its activities becaus8 all Its Income Is applied for charitable purposes. 20- MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 13 Tanglble fixed assèts Fro¢hold land and bulldln4$ L•asghold Property Flxtures and land and Improvèmot)t8 flltlngs bulldlngs Minibu8 Totsl Cost Al 1 September 2022 Additions 1,058.693 1,103.292 24,576 766,051 166,822 873,434 123,504 150.050 2,872,804 1.393,618 Al 31 August 2023 2,161,985 24,576 932,873 996,938 150,050 4,266,422 Dèprfrclatlon and impairment Al 1 September 2022 Depreciation charged In the year 664,963 24,576 353,557 873,434 116,213 2,032,743 21,174 17,417 123,504 8,459 170.554 At 31 August 2L)23 686,137 24,576 370.974 996,938 124,672 2,203,297 Carrylng amount At 31 August 2023 1.475,848 561,899 25,378 2.063,125 Al 31 August 2022 393,730 412,494 33.837 840,061 14 Stocks 2023 2022 Finished goods and goods for resal 3LXJ 300 15 Debtors 2023 2022 Amount5 falling due wlthin one year: Trade debtors Other debtors Prepayments and a¢crued Incom8 28,342 76,768 76,771 47.239 494,250 281,564 181.881 823,053 21 MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 16 Creditors.. amount8 falling duo wlthin one yèar 2023 2022 olher18xation and social sècurily Paymènts received on account Trade creditors Pupil deposits Other creditors Accruals and dèferred incom6 74,422 423,754 44,666 120,900 41.500 22,582 62,218 427,253 142,779 109,050 100,666 106,609 727,824 948,577 17 Credltors: •mounts falllng duè after more than onè year 2023 2022 Paym8nts r?¢èived on account 111,046 85,086 18 Share capltal 2023 2022 Ordinary share ¢#pital Issued and fully pald 1,000 Ordinary 01 £18ach 1,000 1,000 19 Rèstricted funds The restrictèd funds of thÈ charity comprisè the unexpended balances ol donalk>ns and grants hèld on trust subject to spts¢illc eonditions by donors as to how they may be usèd. At1 Septembèr 2022 Inctsmlng resources Tran6fers At 31 August 2023 OLEU Donation 405,482 1405,4821 Prevlous ygar: At1 Septèmber 2021 Incomlng resourcès Transfèrs At 31 August 2022 DLEU Donation 405,482 405,482 -22- MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 19 Rèstrlcted funds IContlnuèd} On 6 October 2022, the School received a donation totalling £405,482 from a Trust. This donation has been received lor the purposes ol the development of the DLEU buildings al th8 School and will not be available for general use. These funds wèr6 spènl in full in the year on the new building 24 Sl Simon's Road, for the purpose of the new speoialist leaming support wellbeing centre. Therefore. as these funds have been spent they have now be8n allocated as an unr&slri¢l8d fund. 20 Unrèstrlctèd funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors 85 lo how th&y may bo ustrd. Thès& include dèsignatèd funds wh￿h have been sel aside out of unrestricted funds by the trustees for specifie purposes. At1 Seplembèr 2022 Incomlng rèsoureos Rfrsourc&s èxp&ndèd Transfers At 31 August 2023 S¢holarship ReseNe MUGA reserve General funds 285,000 62,268 1,781,723 285,000 56,268 2,451,471 16,0001 411,482 5.004,668 14,746,402) 2,128,991 5.004,668 14,746,402) 405,482 2.792,739 Pr•vlou$ y&8r: At1 September 2021 Incomlng resources Resources expended Transter6 At 31 Augusl 2022 Scholarship Reserve MUGA reserve General funds 285,000 68,268 1,788,930 285,000 62,268 1.781,723 16,0001 6,000 4,268.498 14.281.705) 2.142.198 4,268.498 14,281,705) 2,128,991 21 Analysis of nèt assèts b•twa•n funds Unr&strlctèd funds 2023 Rfrstrlcted funds 2023 Total 2023 Fund balances at 31 August 2023 ar• rèpr•s&nt•d by: Tangibl& assèts Current assetsllliabilitiesl Long term liabilities 2,063,125 841.660 1111.0461 2,063,125 841,660 1111,0461 2.793.739 2,793,739 -23- MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 21 Analysls of net a88èts bètween funds Icontlnuodl Unrestricted funds 2022 Re5trictÈd funds 2022 Totsl 2022 Fund balancès at 31 August 2022 are represented by.. Tangible asseis Current assetsllli8biliti&sl Long term liabilities 840,061 1,375,016 185,0861 840,061 1,780.498 185,0861 405,482 2,129,991 405.482 2,535,473 22 Operatlng lèase commitmonts Lgssee At the reporting end date the tharity had outstanding commitm6nts for future minimum lèase payments under non-cancellable op&rating leases, which 1811 duè as follows.. 2023 2022 Within one year Be￿een two and I￿e years 34,729 58,920 184,753 393,650 93,649 578.403 23 Evants after thè raportlng date On 22 Novtsmber 2023, the portfollo of titles owned by Mayville H￿h School Trust were transferred to Mayville High School Limitèd. Th$sè school buildings consisted of 33b St Simon's Road at 8 value stated over £1.000,000, 60 Clarendon Road at a value slated over £1.000,000 and Kenilworth Lodge 81 a value stated over £1.000,000. 24 R&lated party transactSons Transactions wlth related parties During the year the charity entered into the following transactions with related parties: Mayville High School Trust The Trust charged Mayville High Sd)ool Limited rent totalling £O1£15U,OQO} during the year under the terms of the six year lease commencing in 2019. This leagè was terminated early at 31 August 2022. .24- MAYVILLE HIGH SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 24 Related party transactions Icontlnuedl Cockleshe15 Communlty Sports Club Trustees of Mayville High School also served as Trustees of Cockleshell Community Sports Club Limite(l. Durbng the year, Mayville Hlgh School Lbmited paid Cockleshell Community Sports Club Limited £14,(YJO Sn respect of facilities hire and £12,000 in respect of dtsnBtions. Mayvllle Hlgh School Trustees Rèvèrand Anthony Rustell. a trustee of Mayvilie High School. Is ako a fee paying parant. All school fè&s war paid in full in the year. 25 Cash goner31gd from operations 2023 2022 Surplus for the year 258.266 392.275 Adjuslmenls for.. Investment income recognised In statement of finanelal octivilies Depreciation and impairment of tangible fixed assets 117,0341 170.554 12,1951 106,8S8 Movements in worklng capital.. Decreasellincrease} in debtors (Decreasellincrèase in creditors 641,172 1194,7931 1622.8691 346,525 Cash genèrat•d from operations 858,165 220,594 26 AnalysSs of ¢hang&s In net funds The charity had no material debt during the year. -25-