REGISTERED COMPANY NUMBER: 01757474 (England and Walesl REGISTERED CHARifY MUMBEIL. 288148 REPORT OF THE TRU5fEE5 AND CONSOUDA7ED FINANCIAL sfATEMElm FOR THE YEAR ENDED 31 AUGUST 2023 FOR STCATHERINE'S- SPEECH ANO LANGUAGE Bright Brown Limited Chartered Accountants Statutory Auditor Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ
ST CATHERINE'S- SPEECH AND LANGUAGE coMrENTS OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Page Report oftheTrustees Ito8 Report of the Independent Audltors 9toll Consolidated statement of Financial Activities 12 Consolidated Balan Sl*et 13 Parent ststement of Financial Artivities 14 Parent Balano Sheet 15 Consolidated Cash Flow Statement 16 Notes to the Consolidated Cash Flow Statement 17 Parent Cash Now Ststewent 18 Notes to the Parent Cash Flow Statement 19 Notes to the Financial Statements 20to37 Detailed Statement of Financial Activltles 38to40
srcATHERINtS- SPEECH AND LANGUAGE REPORT OF THE TRUSYEES FOR THE YEAR ENDED 31 AU611sf 2023 The trustees who are also directors of the charity and the group for the purposes of the Companles Act 2006, present thèlr report with the financial statements of the charity for the year ended 31 Au8USt 2022. The tru5tee5 have adopted the provisions of Accounting and Reporting by Charitie5: Statement of Recommended Practi applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJEcfivES AND AmrnES Oblectives and alms The relief of sickness, poverty, hardship and distress, among children, young people, their families and other persons who are socially excluded from Socbety as a result of their speech, language and communication needs, by= providing a range of services which incllbde advancirkg their education through the running of a residential special school and sixth fomi cent. vocational trainin& integrated therapy, outreach services and advice and support to parents and families: and raising public awareness of the issues affecting children, young people and thwr families and others with speech. language and communlcatlon needs. Objectives- St CatherSnds- Speech and Language for Adults and Young Adults The object5 of the Charity are the relief of sickness, poverty, hardship and distress among young adults and adults who are socially excluded from society as a result of their speech, language and tommunication needs, in particular bv= (al providing education, vocational training, integrated therapy, outreach servlees. advi, support and care: Ibl raising public awareness of the issues affecting those with speech. language and communication needs. Publit bènèfft The boaid of Trustees understands the requirements as set out in Sealon 17151 of the Charities A¢t 2011 and takes the vièw that 5t Catherine's completely satisfies all guidance Issued by the Charity Commission wlth regard to public benefit. ACHIEVEMENT AND PERFORMANCE Charitable activities Introduction st Catherine's is a national charity working wlth children and young people with sèvere and lifelong speech, language and communication needs and a range of associated issuès including autistic spectrum ¢onditions. dyspraxia and dy51exia. Our airn is to support and enable our children and young people to achieve more than they ever thought possible. To this end. our centre in the heart of Ventnor on the Isle ofWi8ht provides.. specialist educatlon through a school and sixth forrn Collegè.. intensive speech and language therapy and occupational therapy which is integrated into the rrIcUlum. residential care provision, which supports St Catherine's to deliver a waking day curriculum; lrfe-relevant skills and opportunities to develop social interèction to prepare young people for their transition to more independeni adulthood,. St Catherine's Post 19 Provision a specialist Post 16 instltutlon deliverin8 a tailored service of education, therapv, residential accommodation and sUPPOrt to develop 1ndepetjden skills,. and out-of-school activities. Page I
STCAThERINE'S- SPEECH AND LANGUAGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AU6usf 2023 OUT approach.. supports effective learning; builds confidence and selfosteem,. and reinforces the importance of providing wide-ianging personal developmènt opportunities. Strate85¢ plan Our Strategic Plan for 2012024 is detailed below- Our aim is to support and enable our children and young people to achieve more than they ever thought possible. St Cathèrine's is a safe, welcoming and nurturing school where thildren and young people, famhlies and staff are included and valued equally. Together we provide opportunitie5 for all students to grow in confidence and develop a lovè of learning both within school arbd in the wider community- All are encouraged at)d challenged to become as independent as they can to prepare for life beyond St Cètherine's. We aim to: provide a fully integrated programme of education, therapy and Ca to ensure that each child and young person has the very best opportunities to fvlfil their potential within their school careèr- deliver a holistic yet individual cufficulum that supports the academic and personal development of each student through encouraging responsibility. independence and self-awareness and developing resilience and the skills to make positive choices- promote open and honest ¢ommunication throughout the school and it% wider community.. set hhgh standards and expettations for all children and young people according to their individual needs and lebrate diversity by promoting personal. social. moral. spiritual and cultural development, encouraging creativity. and insphring respect for thèmselves and others regardless of ra, gender. age, religion or cultural belièfs. sexual orientation or disability.. and continually develop a professional and approachable staff team who inspire confidence in the support given 10 thildren and young people and their families across all areas of the school. Page 2
S¥ CATHERINES- SPEECH AND LANGUAGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Strategic intent Our centre in the heart of Ventnor provldes excellent specialist and integrated education which inclLtdes.' persgnalised teaching and learning; intènsive speech, langua8e and occupational therapy which is integrated into the ¢urrrculum- the development of life-relevant skills.. and residential provision. Our strategic intents are four-fold. l. Students and ir famili We intend to: increase and sustain the number of students- and offer more services to the Islarbd community and a wider range of students and their families. 2. Provision St Catherine's will= be a centre of excellènce for children and young people with Special Educational Needs and Disabilitles- and offer outstanding provision in all areas. 3. Premises All elements of our environment will be fit for purpose and will support and promote outstanding learning. We will maximise the use of all our assets. 4.ch The objects of the charity will be upheld, namely.. The relief of sickness. poverty, hardship and dlstress, among children. young people. their families and other persons who are 50cièlby excluded from society a% a result of their speech, language ènd communication needs, by.. providing a range of services which indude advancing their education through the running of a residential special school and sixth form centre. vocational trainin& integrated therapy, outreach seNices and advice and sUPPOrt to parents and families; and raisinE publi¢ awareness of the issues affecting children, young people and their frdmilies and others with speech, language and communication needs. -In their fnanCIal planning and execution. St Catherine's irustees airn to prepare and deliver an annual budget with a surplus of at least 2% to contribute towards a fund for the continued improvement of the fabrit of the school. Page 3
ST CATHERINE'S- SPEECH AND LANGUAGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Perforniance revlew for thé perlod tst September 2022 to 3tst August 2023 St Catkrine's School, Sixth Form College and Post 19 Across the 2022-23 year. St Catherine's supported 104 studènts aged 8 to 25. from ihe Isle of Wlght and across the UK through its school, sixth form collège and Post 19 prov¢sion. Each of our students has complex special educational needs and each has hislher own individualised educational and residential programmè integrating high qualbty leamin& speech, language and occupational thèr3py and lrfe-relevant skills. In March 2023, the residential prlsiOn for St Catherine's School and College was inspected by Ofsted and judged Outstandin& Highlights from the report include: °Stude¥)ts flourish through accessing the residentlal provision In the school. They receive warm and nurturing care and support from the dedicated siaff team, who enjoy their roles".. e student council has a tremendou5 influènce across the school with well-mat)aged groups in the school and sixth fomi. It is exceptionalty well oreanised, and studet)ts are passionate about their roles In the council. The proce55 èmpowers students to collaborate with peers and staff while representing them and advocating others". e safeguarding approach in the school is exemplary. Vigorous measures are used when serious intidents are rèported, and thorough risk assessing processes are completed that demonstrate dear monitoring systems that assures student safrf. "Leaders have an exceptional knowledge of all the students in thesthool and regularly review children's progress against their agreed goals and targets". FINANCIAi REVIEW Financial Positlon Total Income for the year to 31 August 2023 was £4,949.79012022.' £4,270,723) and total expenditure in the year was £4.760,00412022- £4.159,9821. Total assets as at 31 August 2023 were £5,935.73212022'. £4,283,166) and total liabilities were £2.166,23312022= E703.4531 The Charity reports an overall surplus for the year, before other reco8nised gains and losse5, of £189,786 12022- £110,741). A surplus of £117,75312022'. £100,289) was from unrestrlcted funds and a surplus of £72,03312022= £10,452) was from restrlcted fund Total funds to carry fOard at 31 August 2023 were £3,582,713 12022= £2,932.9721 of which £3,494.876 12022- £2,855,587) were unrestricted funds and £87,837 12022= £77.3851 were restricted funds. Designated funds wlthin unrestricted funds amounted to £3,546.47712022.. £2.846,4521. Details of designated funds are included in note 19. Pènsion deficit The charity has been re admitted into the IOW Council Pensioh Fund and the audited accounts have been updated to show a pension scheme surplus of £599,00012022.. £3,LKJOI following an actuarial gain Dn defined benefit schemes of £596,012022= £539,000) in the 12 months to 31 August 2023. Page 4
ST CATHERINES- SPEECH AND LANGUAGE REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31 AUGUST2023 FINANCIAL RVIIEW- corrtinued Fundraising The tharity or8ani5es a number of its own fundraising events or supports thirdarty event organtsers. but both have been limited by the pandemic. No professional fundraising organisations, agenry or commertial participator has been or will be employed. as a matter of current policy. The Charity is registered with the Fundraising Regulator and confomis to its Code of Stsndar(ts. It also complies with gutdelines published by the Charity Commission and the Institute of Fundraising. The Charily monltors fundraisin8 on its behalf by attendance at events, or where public collection5 ère bein8 made, by identify checks on collectors, issuing dear guidelines on prartice5 and instrnctions for remitting funds, and issuing letters and badges of identificatlon with contact detsils for the charity. No complaints regardingfvndraising were received during the year. Resenes policy In its financial planning and execution. St Catherine's trustee5 aim to prepare and deliver an annual budget with a surplus of at least 2% of total income to contribute toward5 the aim of building reserves equating to one teTrn'S operatlng costs. The charity's audfted account5 for the year ending 31 August 2023 show= an operational unrestricted yeai end surplus of £117,753 lequivèlent to +2% of totsl incomel- and free reserves of £746,377 whith represents 49% of I term's operating costs of £1,537,873 As part of the tharity's over311 risk manag£x)ient strategy. Irustees will continue to monitor closety the 8eneral reserves, fund with a view to achieving a position equivalent to one term's operating costs, including reviewing assets currently held with a view to wnverting surplus assets into cèsh resour. SUBSIDIARY UNYERTAKINGS The charity has 3 subsidiary, bein& St Catherine's- Speech and Language for younB adults and adults Ltd, which is linked by a unitbng direction under s96 of the Charities Act 2006 and the results of the linked charity have been aggregated with the reporting charity following best practice as laid down in the Statement of Recomrnended Practice "Accounts and Reporting by Charities ISORP 20191 issued it7 October 2019. Page 5
ST CATHERINE'S- SPEECH AND LANGUAGE REPORTOF THE TRUSfEES FOR THE YEAR ENDED 31 AUGUST 2D23 ffiiucruRE. GOVERNANCE ANO MANAGEMEf4T Governing document The charlty is controlled by its Eoverning document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companles Act 2LX)6. Recruitment and appointment of newtrustees Trustees are recruited openly and through recommendation from appointing bodies and through parertvfamlly representation. In addition to this the board has two staff èletted governor5. The appointing bodies a as follows= -The Bishop of Portsmouth -The Portsmouth Diocesan Education Committee - The Isle of Wight Local Authority - The Isle of Wight College Elected trustÈes are. after nomination. elected by majority vote. Staff goveinors are nominated. seconded and lif needed) voted for by the staff bo(ty. Parent governorsltrustees are parents of Children either at, or recently at, St Catherine's. The day to day mènagement of the charity is the responsibility of the principal. The Pay Committèe has ponSibl11ty for setting the remuneration of Key mana8ement personnel in line with industry standards. InductSon and trainlng olnew trustees All new trustees and g(wernors receive induction trainin8 and training during the year on the work of the Charity and on specifi¢ issues. Some of this training 15 combined with stsff training. stRUCTUR4 GOVERNANCE AND MANAGEMEI Rlsk Management The trusiees have a risk management stratw which comprises= Regular reviews of the rlsks the Charity may face- The establishment of systèms and procedures to mltigate those risks identified irb the review5; and The implementstion of protedures designed to mlnimise any potential impact on the Charity, should those risks materlalise. REFERENCE A14D ADMINISTrATIVE DETAILS Registered Company number St Catherine's- Speech and Language- 017S7474 (England and Wale51 St Catherine's- Speech and Language for Adults and YoungAdults- 12675770 Regi5tertd Charfty number st Catherinds-speech arbd Language-288148 St CathÈrine's-Speech and Language for Adults and Young Adults- 288148-2 Re8i5tered offi Grove Road Ventnor Isle of Wight P038 1 Page 6
ST CATHERINE'S- SPEECH AND LANGUAGE REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Trustees Dudley Delannoy Pete Elliott Anthony Flower Martyn Heather Hayley Jarvis Barbara Kelly Daniel Kltcher Sarah Loftus Michael Loftus john Metcalfe Graham Pengelly Clive Powe Mark Rhodes Caioline Weeks Susan Churche5 Resigned June 2023 Appoinied November 2022 Appointed June 2023 Staff Appolnted Governors Victoria Middleton Parent Governor Roger Wiltshire Resigned August 2023 Sènlor Management Team Principal Vice Principal Head tsf Care Head of khool Head of Sixth Form Sarah Thompson Jenn Snaith Vidoria Middleton Ne5 Fiadgley Kayleigh Sparkes Jo Ellioit- appointed 1st September 2022 Tom Evan5 Head of Occupational Therapy Head of Speech and Language Therapy Head of Finance Marketing and Fundraising Manager Kaylei8h Sparkes- appointed 1st September 2022 Zoe Janvrin Susan Graves Company Setrètary Zoe Janvrin Audltors Bright Brown Limited Chartered Accountants Statutory AudiloT Exchange House St. Cr05s Lane Newport Isle of Wight P030 SBZ Page 7
sr CATHERINE'S- SPEECH AND IANGUAGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGU 2023 SrATEMETr OF TRUSTEES. RESPONS181LfflES The trustees Iwho are also the directors of St Catherine's Speech and Language for the purposes of company lawl are resw)nsible for preparing the Report of the Trustees and the financial $18tements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin8 PractÉcel. Company law require5 the trustees to prepare financial statèments for each financial year whid) glve a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing those financial ststements, the trustees are required to select suitable accounting polities and then apply them conslstentlv,. observe the methods and principles in the Charity SORP- make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the tharitable company will continue it) business. The trustees are responsible for kèeping proper accounting records which disclose with reasonable accuracy at any time the firbancial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2{. They are also responsible for safeguarding the assets of the charitable company and hen¢e for tskin8 reasonable step5 for the prevention and detettion of fraud and other irregularities. In so far as the trustees are aware= there is no relevant audit information of which the Charitable company's auditors are unaware- and the trustees have taken all stèps that they ought to have taken to make themselves aware of any relevant audit inforrnation and to establish that the auditor5 are aware of that information. AUDITORS The auditors. Bright Brown Limf(ed, will be proFX)sed for rappointment at the forthcoming Annual General Meeting. This report has been prepared in accordan with the special provislons of Part 15 of the Companies Act 2(M)6 relating to small companies. Approved order of the board of trustees on 23 May 2024 and signed on its behalf bv: Graham Pengelly- T Page 8
REPORT OFTHE INDEPENDENT AUDITORSTO THE MEMBERS OF CATHERINE'S- SPEECH ANO LANGUAGE Opinlon We have audlted the financial statements of St Catherine's - Speech And Language (the 'parent charitable company'l and its subsidiary (the 'charitable group'l for the year ende¢J 31 August 2023 which comprise the consolidated and parent Statement of Financial Acrivities, the ¢onsolidated and parent Balance Sheet, the consolidated and parent Cash Flow Statements and notes to the financial statements, including a summary of slgnificant accounting policies. The financial ¥eporting framework that has been applied in their preparation is applicable law and United Kingdom In our opinion the financial statement%-. give a true and fair view of the state of the group's and parent tharitable wmpany's affairs as at 31 August 2023 and of the group and parent incoming resour$ and application of resources. induding Its income and expendlture, for United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We condurted our audit in accordance with International standards on Auditing IUKI IISA5 IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the group and parent financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in thè UK. indudinE the FRC'S Ethical Standard, and we have fulfilled our other ethital responsibilities in accordance wlth these requirements. We believe that the audit eviden we have obtsined is sufficient and appropriate to provide basis for our opinion. Condusions relatingto going concern In auditing the financial statemenls, we have concluded that the trustees. use of the going concerrb 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 ¢onditions that. individually or collectively, may cast significant doubt on the group's or parent's charitable company's ability to continue as 3 going concern for a period of at least twelve month5 from when the financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concem are descrlbed in the rdevant sections of this retlort. Other information The trustees are responsible for the other information. The other information comprises the information induded in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, excèpt to the extent otherwise explicltly stated in our report, we do not express any form of assurance conclusion thereon. In connertion with our audit of the finanaal statements, our responsibility is to read the other information and. In doing so, consider whether the other inforwnation is materially inconsislent with the financial statements or our knowled8e obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistenches or apparent material mi55tatements. we are required to determine whether this gives rise to a material misstatement in the finanoal statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are req¢Jired to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed bythe Companles Art 2trf>6 In our opinlon. basetl on the work undertaken in the course of the audtt.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared Is consistent with the flnancial statements,. and the Report of the Trustee5 has been prepared in accordance wlth applicable legal requirements. Matters on which we are required to report by exteptlon In the light of the knowledge and understanding of the group and p3rent charitable company and its environment obtained in the course of the audit. we have not Identified material misstatements in the Report of the Trustees. PaEe 9
REPORTOF THE INOEPENDENT AIJDtroRSTO THE MEMBERS OF ST CATHERINE'S- SPEECH AND LANGUAGE We have nothing to report in respect of the following matters where the Companies Act 2LX)6 requires us to report to you if, In our opinion.. adequate accounting records have not beèn kept or returns adequate for our audit have not been receive(I from branches not visited by us,. or the financial statements are not in agreement with the accounting records and retums- or certain disclosure5 of trustees, remuneration specified by law are not made.. or we have not received all the infomation and explanations we require foi our audit- or the trustee5 were not entitled to take advantage of the srnall companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responslbilities of trustees As èxplained more fully in the Statement of Trnstees, Responsibilities, the trustees Iwho are also the directors of the group charitable company for the purpose5 of company lawl 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 PTeparation of financial statements that are free from material misstatement, whether due to fraud or error. Irh preparing the financial Statements, the trustees are responsible for assessing the group and parent tharitable company's ability to continue as a @oing concern, disdosin& as applicable, matters lated to golng COnrn arÈd using the going concern basis of accounting unless the trustees either intend to liquidate the group and parent charitable comDanv or to ase ODeiations. or have no realistic alternative but to do so. Our responsibilities for the audit of the finandal 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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assuran, but 15 not a guarantee that an audit conducted In accordan with ISAS IUKI will always detect a material mi5Statement when It exists. Misslatements can arise from fraud or error ond are consldered material if, individually or in the aggregate, they could reasonably be expected to Influen the economlc decislons of users taken on the basis of these financial ststements. Irregularities, including fraud, are instances of non-complian with law5 and regulations. We design procedures In line with our responsibilities. outlined above, to detect material misstateTnents irh respert of irregulaiities, including fraud. The extent to which our procedures are capable of detecting irregulaiities. induding fraud is detailed below.. Based on our understanding of the group and parent charitable company. the principal risks are that of management override of controls, potential fraud in revenue recognition, recovery of trade debtors. and valuation of defined benefit pension scheme. The engagement team considered these risks and audit procedures were undertaken as follow5: A review of journals made in preparing the final results for preparation of the accounts, and a review of accounting e5timate5 made by management. A review of transaction5 and records to ensure there are no transactions that have no apparent commerclal purpose or that are processed outside the usual accounting systems. Extension of the sample sizes for audit testing carried out in relation to income and trade debtors. and consideration and testing of systems in place around this income. Discussions with management regardingthe ability to override controls and review of processes in place to nfIrM no override had occurred Consideration of defined benefit pension scheme results from revtewing actuary reporL% and entries made into financial statements. Discu5510ns with management, including tonsideration of any known or suspected instances of non-compliance with laws and regulations or fraud. Page 10
REPORT OF THE INDEPENDENT AUDrtORSTO THE MEMBERS OF ST CATHERINE'S- SPEECH AND LANGUAGE There are inherent limitations in the audit procedures described above, and the further removed non-complian with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve deliberate concealment or Intentional misrepresentations. A further description of our re5ponsibilitie5 for the audrt of the financial statements is locateil on the Flnancial Reporting CoLbncil'5 website at www.frc.org.uk/auditorsresponsibilities. Thi5 description forms part of our Report of the Independent Auditors. Use of our report This report is made 501ely to the parent charltable Company's membeTS. as a body. in attordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent ch3rltable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the ftjllest ertent permitted by law, we do not accept oc assume responsibility to anyone other than the group and parent charitable company and the parent charitable company's members as a body, for our audit worK for this report. or for the opinions we have formed. vid Stevens ACA Isenior Statutory Auditor) for and on behalf of Bright Brown Limited Chartered Accountants Statutory Auditor Exchange House St. CfOS5 Lane Newport Isle of Wight P030 5BZ Date: ... LO'L+ Page 11
ST CATHERINE'S- SPEECH AND LANGUAGE CONSOUDATED STATEMENT OF FINANCIAI AcrwmES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGusf 2023 2023 2022 Unrestricted fund5 Restricted fvnds Total fvnds Total funds Notes INCOME FROM Donations and legacie5 Charftable a¢tNlties Educational SeiCe5 other trading activities Investment income 34,532 218,418 252,950 213,990 4,649,928 43,751 3,161 4,649,928 43,751 3,161 4.022,736 33,823 174 Total 4,731,372 218,418 4.949,7 4,270.723 EXPENDMJRE ON Raising funds charitab activitiè5 Educational services 84.271 9,661 93,932 73.536 4.529,348 136,724 4.666.072 4.086,446 Total 4,613,619 146,385 4.760.C(J4 4,159.982 INCOMEIIEXPENDITURO Transfers between fvnd5 Othèr recognbsed gainslllossesl Actuarial gains on defined benefit schemes 117.753 84,225 72,033 184,2251 189,786 110,741 20 596,1K)O 596,000 s39,c) Net movement in fvnds 797.978 112,1921 785,786 649,741 RECONCIUATION OF FUNDS Total funds brought forward Total funds brought forward 19 3,494.876 87A37 3,582.713 2,932,972 TOTAL FUNDS CARRIED FORWARD 4,292.854 75,645 4,368.499 3,582,713 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. These notes form part of these finanaal statements Page 12
ST CATHERINE'S- SPEECH AND LANGUAGE CONSOLIDATED BALANCE SHE FOR THE YEAR ENDED 31 AUGU 2023 2023 2022 Unrestrithed funds Restricted funds Total funds Total funds Notes FIXED ASSETS Tangible assets 14 3.184.836 3,184,836 2.643,354 CURRENT ASSETS Debtor5 16 2.592,736 71,940 2,592,736 158,160 1.533,913 105,899 Cash at b3nk 86,220 2,664.676 86,220 2.750.896 1,639,812 CREDTfoRS Arnounts falling due wwthin one 17 11.798,8951 110,5751 11,809,470) 1342.5361 NET CURRENT A$s 865,781 75,645 941,426 1,297,276 TOTAL A55Efs iE5S CURRENT IIABILMES 4,050,617 75.645 4,126.262 3.940,630 CREDOR$ Amounts falling due after morè than one year 18 1356,7631 1356,7631 1360.9171 PENSION ASSET 20 599.000 599,000 ASSErs 4 292 854 4 368 499 3 582 713 FUNDS Unrestricted funds Restricted fijnds 19 4,292,854 75,645 3,494,876 87,837 TOTAL FUND5 4 368 499 3 582 713 These financial statements have been prepared in accordan with the provisions applicable to tharltable companies subject to the small companies regime. The financial Statements were approved by the Board of Trustees and authorised for issue on 23 May 2024 and wère ed on its behalf by= Graham Pengell - Trustee These notes form part of these financial statements Page 13
srcATHERINE'S- SPEECH AND LANGUAGE PARENTSTATEMENYOF FINANaAL AcnvmES IINCORPORATING AN INCOME AND B(PENDITURE ACCOUNn FOR THE YEAR ENDEO 31 AUGUST2023 2023 2022 Unrestrirted funds Restricted funds Total fvnds Totsl funds Notes INCOME AND ENt)OWMENTS FROM Donations and legacies Charitable artivities Educational seTvices 34,532 218,418 252,950 213,990 3,583,650 3.583.650 3.021,050 Other trading activities Investment income Other income 145,751 3,161 60.000 145,751 3,161 60,000 101,823 174 60,000 Total 3,827,094 218,418 4,045,512 3,397,037 EXPENDITURE ON Raising funds Charitable actl¥ities 84,271 9,661 93,932 73,536 Educational seNices 3,796,104 136,724 3,932,828 3.449.730 Total 3,880,375 146.385 4,026,760 3,523,266 NEf INCOMEIIEXPENDfWREI Transfers between funds 153,2811 84,225 72,033 184,2251 18.752 1126,2291 Other recognised gain51{lossesl Actuarial gains on defined berbefit schemes 20 596,Th)0 596.000 539,000 Net movement In funds 626.944 112,1921 614,752 412,771 RECONCIUATION OF FUNDS Total funds brought forward Total funds brought forward 19 3,257,906 87,837 3,345,743 2.932.972 TOTAL FUNDS CARRIED FORWARD 3,884,850 75,645 3.960.495 3.345.743 COKnNUING OPERATIONS All income and expenditure has arisen from continuinE activities. These notes form part of these financial statements Page 14
ST CATHERINE'S- SPEECH AND LANGUAGE PARENT BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Unrestricted funds Restricted funds Total funds Total funds Notes FIXED ASSErs Tanglble assets 14 3,130.352 3,130,352 2.643.128 CURRENT ASSErs Debtors Cash at bank 16 IA06,8()4 61.364 1,806,804 147,585 1.267,743 104,827 86,220 1,868,168 86,220 1,954,389 1,372,570 CREDrroRS Amounts falling due within one year 17 11,355.9071 110.5751 11,366,482) 1312.0381 NEf CURRENT ASSErs 512.261 75.645 587.906 1,060,532 TOTALASSEfs LESS CURRENT LL4BILITIES 3,642.613 75,645 3,718.258 3,703,660 CREDITORS Amounts falling due after more than one year 1356,7631 1356,7631 1360,9171 PENSION ASSEr 20 599,LlJO 599,OC 334574 ASSErs 3 884 850 3 960 495 FUNDS Unrestricted funds Restricted fvnds 19 3,884.850 75,645 3.257.906 87.837 TOTAL FUNDS 3 960 495 3 345 743 These financial statements have been prepared in accordance wtth the provisions appllcable to charitable companie5 subjert to the Small companies regbme. The financial statements were approve(I by the Board of Trustees and authorised for issue on 23 May 2024 and were Signed on its behalf bv.. Grahèm Pengell iustee These notes form part of these finanoal statements Page 15
ST CATHERINE'S- SPEECH AND LANGUAGE CONSOLIDATED CASH FLOW ATEMETr FOR THE YEAR ENDEO 31 AUGUST 2023 2023 2022 Notes Cash flowsfrom operatlng activities Cash generated trom operations Interest paid 746,216 Iis,ioi} 126.2561 114,8121 Net cash Iu5ed inl/provided by operating activities 731,115 141.0681 Cash flows from Investing actfvities Purchase of tangible fwed assets 1675.249} 1875,9311 Net cash used in investing activitles 1675,249} 1875,9311 Cash flowsfrom financing activities NÈW loan5 in year Loan repayments in year 26,888 130.4931 396,(K 114.8981 Net cash provlde(I by financing activities 13.6051 381.102 Change in cash and cash equNalents in the reporttng period 52.261 1535.8971 Cash and cash equivalents atthe beginning of the reporting perlod 105.899 641,796 Cash and cash equfvalents at the end of the reportln8 riod 158,160 105.899 These note5 form part tsf ihese financial statements Page 16
ST CATHERINE'S- SPEECH ANO LANGUAGE NOTES TO THE CONSOLIDATED CASH FIOW ATEME FOR THE YEAR ENDED 31 AUGUST 2023 RECONCIUATION OF IPENDITuRE)/1NCOME TO CASH FLOW FROM OPERAnNG AcnvmES 2023 2022 Net (expenditureifincome fof the reportin8 period la5 per the Statement of Financial Artivitiesl 189,786 110,741 Adjustments for: Depreciation char8es Inte$t paid Increase in debtors Increase in creditors 133,766 15.101 11,058,823) 1,466,386 107,384 14,812 1401,6271 142.434 Net cash (used inllprovided by operations 746,216 126,2561 ANALYSIS OF CHANGES IN FUNDSIIDEBn At 1.9.22 Cash flow At 31.8.23 Net cash Cash at bank 105,899 47.332 153.231 105.899 47.332 153,231 Debt Finance leases Debts falling due within l year Debts falling due wiihin 1-2 years Dèbts falling due within 2-5 years Debts falling due over one year 121.9591 15481 18691 12.8281 24,431 {21,9591 120,7331 121.8891 {71,2451 1247,0491 120,1851 121,0201 168.4171 1271,4801 1381,1021 11,7731 1382,8751 Total 1275,2031 45.559 1229,6441 These notes form part of these financial statements Page 17
5T CATrIERINE'S- SPEECH AND LANGUAGE CASH FLOW STATEMENT FOR ThE YEAR ENDED 31 AUGUST 2022 2023 2022 Notes Cash flows from operating artivities Cash Benerated from operations Interest paid 679.044 115.1011 127,6111 {14,8121 Net cash lusèd inllprovided by operating 3ctivities 663.943 142.4231 Cash flows from InT$11ng actlvltie5 Purchasè of tangible fixed assets 1617,$80} 1875,6481 Net cash used in investing activitles 1617.580} 1875,6481 Ch flows from finandn8 artivltles New loans in year Loan repayments in veèr 26,888 130,4931 396,OC¥) 114,8981 Net cash provided by financin8 artivities 13.6051 381.102 Change in cash and cash equivalents in the reportlng period 42,758 1536,9691 sh and tash equivalents at the bèginning of the reporting period lo427 641,796 Cash and cash equlvalents at the end of the reporting period 147,585 104,827 These notes form part of these financial statements Page 18
ST CATHERINE'S- SPEECH AND LANGUAGE NOTESTOTHE PARENT CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 RECONCILIATION OF IEXPENDmJRE}/INCOMETO NET CASH FLOW FIIOM OPERATING ACTMTIES 2023 2022 Nel lexpenditurellincome for the reporting perfod la5 per the Ststement of Financial Attlvltlesl 18.752 1126,2291 Adjustment5 for. Oepreciètion charges Interest paid 1lncreasel/decrease in debtors Increase in creditors 130.358 15.101 1539.(611 1.053,894 107,327 14,812 1135,4571 111,936 Net cash (used inllprovided by operailons 679.044 127,6111 ANALYSIS OF CHANGES IN NET FUNDSIIDEBT) At 1.9.22 Cash Ilow At 31.8.23 Nèt $h Cash at bank 104,827 42,758 147.585 104,827 42,758 147.585 Finance leases Debts falling due within l year Debts fallbng due within 1-2 years Debts falling due within 2-5 years Debts falling due over one year 121,9591 15481 18691 12,8281 24,431 121,959 120,7331 121,8891 171,2451 1247,0491 120,1851 121.0201 168,4171 1271.4801 1381,1021 11,7731 1382.8751 Total 1276.2751 40.985 1235,2901 These notes form part of these financial statements Page 19
ST CATHERINE'S- SPEECH AND iANGUAGE NOTES TOTHE FINANCIAL sfATÈMENTS FOR THE YEAR ENDED 31 AUGUST 2023 I. ACCOUNTING POUCIES Gènèral Information The St Catherine's - Speech and Language is a private company limiteil by guarantee and incorporated in En8lar¢d and Wales, registered no 01757474, registered office Grove Road. Ventnor, Isle of Wlght P038 I. The financial statements are presented in Sterlin& which is the functional currency of the charitable group. There are no material uncertainties about the charity's ability to Continue. Basis of preparingthefinancial statements The financial statements of the charitable company, which is a public benefft entity under FRS 102, have been prepared in accordance with the tharities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to tharities preparing their accounts in accordante wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191,, Financial Reportin8 Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Iland. and the Companies Act 2C¥)6 and Charities Act 2011. The financial ststements have been prepared under the historical cost convention. Income All income 15 recognised in the St3temÈnt of Financial Activitie5 once the charity ha5 eniiilement to the funds, it is probable that the income will be received and the amount can be measured reliably. Voluntary Income Donattons are recognised in the Statement of Financial Activities once the tharitablè company has entitlement to the funds, it is probable that the income will be received and the amount can bè measured reliably, this is generally upon reIpt of the donation. Grants and pupll premium income is recognised when unndItIOnal element to the income 15 passed to the charitable company. Where there are performance related terms and conditions that must be met before unconditional entitlement passe5 to the charitable company. the income is recognised once it is highly probable that these will be met. Where no suth tonditiot)s are in pla the income Is recognlsed when It rèceived. Activities for generatingfunds This consists of shop intome and accommodation income. The shop income is recognised in the Statement of Financial Actlvitie5, net of VAT when the goods are delivered. Accommodation income is recognised based on the date of the stay. Investment Income Rental income is recognised in the period to which the rentsl tncome relates. Interest is recognised on receipt. Incomlng Resource5 from Charitable Artivities Income from chaiitable activities is reco8nised, net of VAT and all other sales taxes when the seThices are provided. This consists of school fees income payable by the guardian of the Children or the local authoritv. Expendfture liabilities are recognised as expenditure as soon as there is a legal or constructive obligation cornmitting the charity to that expenditure, it 15 probable that a transfer of economic benefrt5 will be required in settlement and the amount of the obligation can be measured rellably. Expenditure is accounted for on èn accruals basi5 and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular heading5 they have been allocated to actrvities on a basis tonsistent with the use of re50urtes. Page 20
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL 5fATEMETrirs FOR THE YEAR ENDED 31 AUGUST 2023 I. ACCOUNTING POUCIES- continued Allocation and apportionment of costs Support costs are costs related to providing direct support to the charwtable company but also indudes IT Costs, insurance. telephone and other office costs. Governance costs are audit fees and trustee meeting and travel expenditure. Any such costs incurred during the year that are not directly attributsble to the charitsble attivities of the organisation are allocated on the proportion of total dirert costs required to supw)rt each activbty. Tangible fixed assets Fixed assets are recongised at cost. Depreciation is provided at the followlng annual rates in order to write off each asset over its estimated useful life. Freehold property not provided Long leasehold Over the period of the lease Improvements to proper Straight line over 3- 50 years Plant and machinerv Stiai@ht line over 3- 50 years It is the charity's policy not to depreciate freehold property as the trustees belleve thèy are held in good repair and annual improvements are tarried out. The trustees consider this policy best refle¢ts the value of freehold property- Imiestments Investments in subsidiary companies are recognised at cost where applicable. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestrirted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restticted purposes within the objects of the charity. Restrirtions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund Is included in the note5 to the financlal statement5. Hire purchase and leasing ¢ommitmeb)ts Rentals paid under operating leases are charged to the Statement of Finanaal Activities on a straight line basis over ihe period of the lease. Pension costs and other post-retirement benefrts The Chatity operates three staff pension schemes providing benefits based on final pensionable pay as follows.. lil Teacher's Pènslon Scheme This is a statutory. contributory final salary schernè. It Is an unfunded scheme which is provided for by the Superannuation Act 1972 under which Tetirement and other superannuation benefits are paid out of monies provided by Parliament. lill Isle of Wight Council Pension Fund This is a Local Government Pension Scheme run by the Isle of Wight Counal as administering authority. The Fund is maintained by the Isle of Wight Council under regulations made under the Superannuations Act 1972. As the scheme is set up by statute, payment of the scheme benefits is guaranteed by law. ContrÉbutions for both schemes are charged to the Statement of Financial Activities so as to spread the costs of pension5 over employees. working live5 With the organisation. Any actuarlal gains or losses relating to the scheme is rÉcognised in the Statement of Financlal Activities in accordance with FRSIO2. Page 21
sr CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES- continued Penslon costs and other post-retirement benefits lili) Scottish Equitable group Personal Pension Scheme The Charity h35 set ilp a Separate Group Personal Pension Scheme. This is a defined contribution scheme in which the contributions are being charged to the Statèment of Financial Artiwties so as to spread the cost of pensions over the employees. working lives with the organisation. Flnanaal instruments The charity only has financial assets and financial liabilities of the kind that qual as baslc financial in5trufflents. Basic financial instruments are initially 0815@d at transaction value and debt Instruments are subsequentty measured at amort15ed cost. Judgements in applying accounting policies In preparing these financial statèments the trustee5 have made the following}udgements- Dètermining whether income is restricte(l or nStriCted. These decisions deperhd upon the whether th donor has given thè income subject to rtain terms or conditions which impose a restriction in trust law. Determining the allocation of support costs to activities. These decisiorbs depend upon the whether the cosl can be directly attributed to an activity or shared beeen specific aciivities. The balance of costs is apportioned between the activities. Key sources of estimation uncertalnty Tangible flxed assets are depreciated over thelr useful economlc live5 taking into account residual values, where appropriate. The actual lives of the assets and residual values May vary depending on a number of factors. Factors affectlnE the lives of assets include technological innovation and maintenance programmès. Basisof ¢onsolidatbon The accounts of the group consolidate the results of the company and its subsidSary undertakingsi St Catherine's - Speech and Lan8u3ge for Young Adults and Adult5 Ltd which are made up to 31 August. The accounts are consolidated on a line by line basis. DONATIONS AND LEGACIES Group 2023 Parent Group 2022 Parent 2023 2022 Donations 6.286 1,721 28,230 216.713 252,950 6,286 1.721 28,230 216,713 252,950 18.683 1,689 17.920 175.698 213.990 18,683 1.689 17,920 175.698 213,990 Gift aid Fundraisln8 attivities Grants Grants received, included in the above, are . Group 2023 Parent 2023 Group 2022 Parent 2022 Education Funding Agency Isle of Wight Council Co-op Local Community Fund Other mlnor grants 212,460 212,460 168,349 1,790 168,349 1,790 2,150 2.103 216,713 2.150 2.103 216,713 5,559 175,698 5.559 175,698 Page 22
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL sfATEMENTS- contlnued FOR ThEYEAR ENDED 31 AUGUST 2023 3 OThER TRADING ACVlEs Group 2023 Parent Group 2022 Parent 2023 2022 Shop income Accommodation. rent and other income 23,777 19,974 43.751 23,777 121,974 145.751 15,460 18,363 33.823 15,460 86,363 101,823 4 INVESTMENT INCOME Group 2023 Parent Group 2022 Parent 2023 2022 Investment income 3,161 3.161 174 174 5 INCOME FROM CHARITABLE ACTivmES Group 2023 Parent Group 2022 Parent 2022 2023 Activity School fees- Private and local authority funded School fees- EFA funded Educational serw 2,816.983 2,816,983 2.344.383 2,344.383 Educational sem 766,667 766.667 676,667 676.667 Post 19 income Educational Se% 1.066,278 4,649,928 3,583,650 1,001,686 4.022.736 3,021,050 6 RAISING FUNDS Raisingdonations and legxies Group 2023 Parent Group 2022 Parent 2023 2022 Staff costs Books, materials and small equipment 63,649 19.501 83,150 63,649 19,501 83,150 60,192 6.982 67,174 60,192 6.982 67,174 Other trading actNities Shop expenses 10,782 10.782 6,362 6.362 Aggregate amounts 93,932 93,932 73,536 73.536 Page 23
sr CATHERINE'S- SPEECH AND iANGUAGE NOTES TO THE FINANCIAL STATEMENfs- continued FOR THE YEAR ENDED 31 AUGUST 2023 7 CHARITABLE ACTIVITIES COSTS Group Direct Group Support costs (see note 81 Parent Parent Support ¢osts (see note 81 Direct Group Totals Parent Totals Costs Costs Educatlonal services 3.868,551 3,203.080 797.521 729.748 4,666,072 3,932,828 Analysis of direct costs- Group 2023 3,481,320 3.066,506 115,794 95,104 28,100 23,493 17,977 17,977 225,360 3.868.551 3.203,080 Parent Group 2022 2.962,751 2.677.974 98,416 80.605 27.271 23,931 Parent 2023 2022 stsff costs Books and materials Medical. fares and travel Grant repaymeni Post 19 College and Exam Fees 210,CX)O 3,298.438 2.782.510 8 SUPPORTcosrs Group Parent Governan Governance other costs costs Parent Group Other Group Totsls parent Totals Educational services 727,621 669,404 69.900 60.344 797.521 729.748 Analysis of direct costs.. Group 2023 Parent Group 2022 Parent 2023 2022 Rent Rates and water Insurance ght and heat Telephone Sundries Food supplie5 Marketing Repalrs and maintenance censes 3.000 8,057 54,519 113.217 12,551 3,797 42, 15,037 276,968 14,2(M) 4.464 7.381 11,534 1.809 10.282 17,702 22,607 107.384 14,812 11.200 5,100 3.673 25,814 788,008 10.480 63.447 170,648 15,902 8,088 56,488 21,343 131.893 15.563 6,107 31,851 12,949 2,191 12.353 8,144 55,394 149,664 13.905 8.088 56.488 21,343 118,743 13,163 4,108 30.573 11,930 2,108 12.353 7,809 46,656 107.083 12,541 3,797 42,900 15,037 182.743 13,729 4,464 7,381 11,444 1.789 10,282 17,702 22,607 107,328 14,812 6,4fKI 3,3 3,673 23.742 667,219 Refuse Minibus costs ICT costs Bank charges Photocopier rent Bad debts Training Depreciation Bank loan interèst Auditors, remuneration Auditor5, remuneration for non audit Legal fees Professional fees 19,450 133,767 15,101 18.210 4,5 9,485 37,615 797.521 17,943 130,356 15.101 12,450 2,250 9.485 36.159 729,748 P3ge 24
ST CATHERINE'S- SPEECH AND LANGUAGE NOTESTO THE FINANCIAL STATEMETr¥t5- continued FOR THE YEAR ENDED 31 AUGUST 2023 9 INCOME/{EXPENDtruREI Net incomellexpenditurel is stated after charginpJlcredltingl- 2023 2022 Auditors, muneratIon 8,250 5.1(KJ 4,375 133,767 6,400 Auditors, remuneration- subsidiary Auditors, remuneration for non audlt Wofk DeplatiOn- owned assets s.100 107.384 10 TRU5fEES' REMUNERATION AND BENEFFrs No trustee5 received any remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. Trustees. expenses DurlnE the year total expense5 paid on behalf of trustees amounted to £nil12022-. Nill. 11 AFF COSTS 2023 2022 Wages and salarie5 Social security costs Other pension costs 2,975,568 226,850 278,902 3.481.320 2,530.820 216,953 214.978 2,962,751 12 STAFF AMALYSIS The average monthly number of employees during the year was as follows: 2023 2022 Full time Part time 61 67 76 55 137 122 The number of employees whose employee benefits lexcludbn8 employer pension eostsl eXded £60,m) was: 2023 2022 £80.001- E90,000 £90,(K)i- £iOO.OLX) The principal, P05t 19 Registered Manager and deputy manager are consldered key management personnel. The total employee benefits for these posts were £206,59612022 '. £149,059). Page 25
St CATHERINE'S- SPEECH AND LAP4GUAGE NOTESTO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGusf 2023 13 COMPARATIVES FOR THE STATEMENT OF FINANCIALAcrivlES {GRoupI Unrestricted funds Restricted funds Total fvnds INCOME AND ENDOWMENTS FROM tjonations and legacies Charitable actsvities Educational services 29,670 184,320 213.990 4.022.736 4.022,736 Other trading activities Investment income 33.823 174 33,823 174 Total 4,086,403 184,320 4,270,723 EXPENDITURE ON Rai5illE funds 73,536 73,536 Charitable activities Educational serw¢es 3,912,578 173,868 4,086,446 Totsl 3,986.114 173,868 4,159,982 NET INCOME 100.289 10.452 110,741 Other recognised gainslllosses) Artuarial gains on defined benefit Net movement in funds 539.CKK) 639,289 539.000 649,741 10,452 RECONCIUATION OF FUNDS Total funds brouÉht forward Total funds brought forward 2,855,587 TOTAL FUNDS CARRIED FORWARD 3,494,876 The note shows the Statement of Financial Artivities, split by fund. for thè year ended 31 August 2022. 77.385 87,837 2,932.972 3,582.713 Page 26
ST CATHERINE'S- SPEECH AND LANGUAGE NOTESTO THE FINANCIAL STATEMEwfs- continued FOR THE YEAR ENDED 31 AUGUST 2023 13 COMPAKATIVES FOR THE ATEMENT OF FINANa AcrNmES- CONTINUED IPARENn Unrestricted Restricted funds funds Total fvnds INCOME AND ÉNI)OWMEKfs FROM Donations and legacies Charitable activities Educational ServIS 29,670 184.320 213,990 3.021,050 3.021,050 Other trading activities Investment income 33,823 68,174 60,000 33.823 68,174 60,IJ)O Other income Total 3,212.717 184.320 3,397,037 EXPENDtruRE ON Raising funds 73,536 73.536 Charitable activitiès Educational serVIS 3.275,862 173,868 3,449,730 Total 3,349,398 173,868 3,523,266 INCOME 1136,6811 10,452 1126,2291 Othèr reco8nised gainslllossesl Actuarial 8ain5 on defined benefit Net movement in tunds 539,1)00 402.319 539,1]10 412.771 10,452 RECONCIUATION OF FUNDS Total funds brought forward Total funds brouBht foard TOTAL FUNOS CARRIED FORWARO 2,855.587 3.257,906 77.385 87,837 2,932,972 3,345.743 The note show5 the Statement of Financial Activities. split by fund, for the year ended 31 August 2022. Page 27
STCATHERINE'S- SPEECH AND LANGUAGE NOTESTO THE FINANCIAL ATEmENTs- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 14 TANGIBIE FIXED ASSEIS Improvements to Freehold Long leasehold Group Plant and property Group property Group machinery Group Totals Group Totals Parent COST At I September 2022 Additions 915,350 367,268 1,748,304 599,317 1.366.996 75,932 4,397,918 675,249 4,397,635 617.580 At 31 AuBUSt 2023 915.350 367,268 2,347,621 1,442,928 5,073.167 5.015,216 DEPRECIATION At I September 2022 Charge for year 22,092 2.806 560.314 58,278 1.172,158 72.683 1,754,564 133,767 1,754.507 130,357 At 31 August 2023 24.898 618,592 1,244,841 1.888.331 1.884,864 BOOK VALUE At 31 August 2023 915.350 342,370 1,729,029 198.087 3,184,836 3,130,352 At 31 August 2022 915,350 345,176 1.187,990 194.838 2.643,354 2,643.128 15 SUBSIDUARY UNDERTAKING The pant company's investments at the balance sheet date are-. St CHtherfne's Speech and language for Young Adutts and Adubts Limrked Company regisiration number: 12675770 Charity registration number= 288148 (Linked Wbth St Catherine's- Speech and Language) Registered office= Grove Road, Ventnor, Isle of Wighl, P038 1 Nature of charity: Provision of education Services Limited by guarantee: Sole Corporate Member 2023 2022 Aggregate funds Surplus for the year 236,969 236,969 171,035 2023 2022 Income Charitable activitles= Education servtces Total income 1,066,277 1,066,277 1,001,689 1,001,689 Expenditure Charitable activities-. Education services Net Income 895.242 171.035 764,720 236,969 Pa8e 28
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023 16 DEBTORS: AMoui¥fs FAWNG DUE WH1N ONE YEAR Group Parent Group Parent 2023 2023 2022 2022 Trade debtors Amounts owed by participating interests Other debtors 2,516.149 1,263,374 487,331 29,138 11,330 2,471 2,471 44.978 42,298 2,592.736 1,806.804 1,494,076 782,418 445,576 9,677 9,677 2,657 2,657 27,503 27,415 1,533.913 1,267,743 Accrued income Prepayments Ofthe E2,516,149 of trade debtors. the charity has received £2,481.206 between the balance sheet date and the date that the Trustees, report has been approved. The trade debtors value also includes fees invoiced in advance of £1.390,069 and these fees are also included in accrued income as they relate to the period of 31 August 2024. 17 CREDITORS.. AMOUNTS FALUNG DUE wrtHIN ONE YEAR Group 2023 Parent Group 2022 pant 2023 2022 Bank loan5 and overdrafts Isee note 181 Hire purchase (see note 251 Trade creditors Social security and othèr taxes Other creditors Accruals and deferred income 20.733 20.733 5.378 5,378 227,394 216.218 52,602 52.177 61,108 61.108 1.442.255 1,010,868 1,809.470 1,366.482 20,185 20,185 101,669 84.388 79,881 56,413 342,536 100,908 79,119 62,378 49,448 312,038 18 CREDtroRS: AMouTrifs FAWNG DUE OVER ONE YEAR Group 2023 Pant Group 2022 Parent 2023 2022 Bank loans Hire purchase (see note 251 340,183 16,580 356,763 340.183 16,580 356,763 360,917 360,917 360.917 360,917 An analysis of the maturity of loans is given below- Group 2023 Parent Group 2022 Parent 2022 2023 Bank loans 360.916 360,916 381,102 381,102 The bank loan is secured on freehold property and 15 repayable by installments over 180 months at an fixed interest rate of 4.08% for the first 84 months. Pa8è 29
CATHERINE'S- SPEECH AND L4NGUAGE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGU 2023 18 CREDITORS: AMOUNTS FAWNG DUE OVER ONE YEAR An an8lysis of the maturity of loans is given below= 2023 2022 Amounts falling due withln one yèar on demand.. Bank Loans 20,733 20,185 Amounts fallinB between one and two years: Bank loans- 1-2 years 21,889 21,020 Amounts f3lling due between two and five years= Bank loans- 2-5 year5 71,245 68.417 Amounts falling due in morethan five years: Bank loans more 5 yr by installments 247,049 271,480 19 MOVEMEKf IN FUNDS Net Transfers movernent irb funds betsveen funds At At 1.9.22 31.8.23 Unrestricted funds General fund Fixed Asset Fund Includln8 Revaluation Reserve Pension Schemè Surplus Repairs fund 648.424 248,810 1150,8571 746,377 2.643,452 1131,0571 596.0 235.082 2.747,477 599,(KN) 200,orxi 4,292,854 200,000 3,494.876 713,753 84.225 Restrirted funds Restricted Fund 87,837 72,033 184,2251 75,645 TOTAL FUNDS IGRoupI 3,582.713 785,786 4.368,499 TOTAL FUNDS {PARENn 3,345.743 614.752 3,960,49S The transfer of £235,082 between general funds and fixed asset fund is to account for the new additions in the period less depreciation movements. The transfeT from restricted funds represents funds provided to purchase fixed assets which are used for gener31 charitable purposes. Page 30
ST CAThERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENTS- contlnued K>R THE YEAR ENDED 31 AUGUST 2023 19 MOVEMENT IN FUNDS- continued Net movement in fund5, Included in the above are as follows= Incoming resource5 ResourS expended Gains and losses Movement in ndS Unreslricted fvnds General fund Fixed Asset Fund Including Revaluation Reserve Pension scheme deficlt 4,731,372 14.482,5621 248,810 1131.0571 1131,0571 596.LXKI 713.753 596,000 596,OWJ 4.731.372 14,613,619) Restricted funds Restricted Fund 218,418 1146,3851 4,949,790 14,760,004) 72,033 785,786 TOTAL FUNDS 596.OCKI Comparatfves for movemenl In funds Prior Net Transfer5 between fvnds year adjustment movement At At 1.9.21 in funds 31.8.22 Unrestrkted fufKIs General fund Fixed Asset Fund Induding Revaluation Reserve Pension Scheme Deficlt RepaiTS fund 1,190.631 154,619 207,617 1904,4431 648,424 1.846,337 I1,041,() 2LKI.000 2,195.968 1107.3281 539,orxi 904,443 2.643,452 3.0 2(MJ.O(M) 3.494.876 505.000 659,619 639,289 Restrirted fvnds Restricted Fund TOTAL FUNDS IGROUP) 232.004 2.427,972 1154,6191 505.(K)O 10,452 649.741 87,837 3.582,713 TOTAL FUNDS IPARETrm 2.427.972 505,000 412,771 3,345.743 Page 31
ST CATHERINE'S- SPEECH AND LANGUAGE NOTESTO THE FINANCIAL STATEMENFS. continued FOR THE YEAR ENDED 31 AUGUST 2023 19 MOVEMENF IN FUNDS- ¢ontlnued Comparative nèt movement in funds. Included in the above are a5 follows= Incomin8 resources Resources Gains and Movement expended losse5 in funds Unrestrfcted funds General fund Fixed Asset Fund Including Revaluation Reserve Pension Scheme Deficit 4,086.403 13,878.7861 207,617 1107,3281 1107,3281 539.OLX) 539.0(Kl 539.0 639,289 4.086.403 13,986.1141 Restrirt funds Restricted Fvnd 184,320 1173,8681 10.452 TOTAL FUNDS 4,270,723 14,159,982) 539.C4JO 649.741 A current year 12 months and prior year 12 months combined position is as follows: Prior Net Transfers between funds year adjustment rnovement At At 1.9.21 in funds 31.8.23 Vnrestricted funds General fund Fixed Asset Fund Including Revaluation Reserve Pension Stheme Oefiat Repairs fund 1,190,631 154,619 456.427 11.055,3001 746,377 1.846,337 11,041,IKIOI 200,orKI 2,195.968 1238,3851 1.135,(HJO 1,139,525 2.747,477 599,000 200.LKIO 4,292.854 505.LN)O 659.619 1.353,042 84,225 Restrlcted funds Restricted Fund TOTAL FUNDS (GROUPI 232,004 2 427 972 1154,6191 82,485 1435 527 184,2251 75,645 4 368 499 TOTAL FUNDS IPARENf 2 427 972 505 000 1027 523 3 960 495 Page 32
ST CATHERINES- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023 19 MOvEMETr IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resource5 Resources Galns and expended losses Movement In funds Unrestrirted fijnds Gener31 fund Fixed Asset Fund Including Revaluation Reserve Pension Scheme Deficit 8.817,775 18.516,2911 301.484 1203,4931 1203,4931 1,135,1)00 1,232.991 1,135,(M)O 1,135.LX)O 8,817,775 18,719,784) RestrKted fvnds Restricted Fund TOTAL FUNDS 391,753 I3,579) 9 209 528 19,020,363) 91.174 1324 165 1.135,IK)O Detsils of the funds are as follows: Designated Funds Fixed Asset fund induding revaluatiorb reselve The trustees have decided to sh¢)w reserves relating to fixed assets separately to free reserves. Thls fund also includes the revaluation reseNe which represents the amount by which investments exceed their historical cost. Pension The pension scheme deficit fund represents the projected value of the pension scheme assets les5 liabililies. Repair5 The trustees have allocatefl £200,OCKTr from tash funds held to hold for major repalrs and improvements that have been identified. ColleBe The trustees have identlfled a site to expand the school operation the charity and purChd this in thè 2022 financlal vear and the desiRnation has been released. Restricted Education This fund represènts moneys paid io the xhool by the EFA to be spent on the development and continuation of services for vulnerable 16-19 vear olds. Department for Education pupil premium This fund preSentS moneys paid to the school by DFE via local authorities to be spent on improving the academic performance of disadvantaoed students. Education This fund represents moneys paid to the school by the EFA to be spent on improvements. malntenance and capital reoairs of buildinRs and othèr facilities. There are sever31 minor restrlcted funds which at the year end totallinB £41.698 which are due to be spent in the next accoijntinq Deriod. Page 33
STCAThERINVS- SPEECH AND LANGUAGE NOTESTO THE FINANCIAL STATEMENTS- continued FOR ThE YEAR ENDED 31 AUGUST 2023 20 EMPLOYEE BENEFITOBUGATIONS Defined benefft stheme The Charity contributes to the Isle of Wight Council Pension fvnd. This is a separately funded scheme under which the Isle of Wight Council has set up a separate pension fund. The school is permitted to participate In the scheme under the terms of an 'administration agreement, for non teaching employees. This is a deflned benefit scheme in the UK. A full actuarial valuation was caffied out as at 31 August 2023 by a qualified independent artuary. The Isle of Wight Council establishes the rates of contribution for both employees and employers participating in the 5cherne. The current rates for employees are variable and 20.3% for employers. The employer is also required to pay an additional £55,000 per year in monthly instalments. Details of the scheme ale as follows= The amounts recognised in the Balance Sheet a as follows= Defined benefit pension plans 2023 2022 Present value of funded obligations Fair value of plan assets 12.073,0001 12,544,(MIoI 2,672,(KJO 2.547.000 599,CMXJ 3,000 Present walue of unfunded obligations Surplus 599.000 Net asset Page 34
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TOTHE FINANCIAL STATEMENT5- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 ZO EMPLOYEE B£NEF0BGATIONS- ntInUed The amounts recognised in the Statement of Financial Activtties are as follow5- 2023 2022 Current serv1 cost Net interest from net defined benèfit assetlliability Past service cost 66,OLKS 62.000 46.000.(KI 256,000 128,(K)O 302,(KK) Actual return on plan assets 45.000 1205,OCQI Changes in the present value of the defined benefit obligation are as follows= Defined benefft pension plans 2023 2022 Opening defined benefit obligation Current Servi cost 2,544.(KM) 66,orA) 107.000 I4,0 li,)0) 3.352,OCKI 46.000 51,000 Interest cost Employee contributions Benefits paid ActL¢arial Igainsl/Josses from changes in financial assumptions I142,0) 1539,CW} 2.073,000 1768.0001 2,544.000 Change5 in the fair value of scheme assets are as follows= Defined benefit penslon plans 2023 2022 Opening fair value of scheme assets Contributlons by employer Interest received Experted return Employee contributions Benefits paid 2,547.000 77.000 108,000 45,000 14.000 1119.0001 2,672,(X)o 2,816,OC(I 30,000 43,IX)O 1205,0001 1142.IKIOI 2,547,CMJI Page 35
ST CAThERINE'S- SPEÈCH AND LANGUAGE NOTES TO ThE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2023 20 EMPLOYEE BENEFITOBLIGATIONS- contSnued The amounts recognised in other recognised gains arhd losses are as follows= 2023 2022 Actuarial Igainslllosses from changes in financial assumptions 539.0 539,000 768,000 768,000 The major categories of Scheme assets as a percentsge of total scheme assets are as follows: Defined benefit penslon plans 2023 2022 71% Equities Bonds 16% 17% Property Cash Principal attuarial assumptions at the Balance Sheet date (expressed as weighted averages).. 2023 5.25% 4.05% 3.05% 2022 4.25% 4.15% 3.35% Discount rate Future salary increases Future pension increases Defined contributlon scheme The Charity Colltributes to two other separate staff pension schemesfor eligible employees who also make a contribution. Details of these schemes are set out below= Teather5' Pension Scheme This is a contributory scheme run by Teachers, Pensions. The benefits of the stheme a 8overned by the Tead)ers' Perb5ion Regulations 1997. The scheme automatically covers full time teathers who have not opted out of the scheme to make their own pension arrangements. Members of the scheme pay at varyin8 rates ranging from 7.4% to 11.7% of their 5alary- the school pays a contribution of 16.48% of the member's salary. Teachers, contributions are on a 'pay a5 you go, basis and ihe school's contributions are credited to the Exchequer under arrangements covered by the SuperannuatSon Att 1972. The Teachers, Pension Regulations require an annu31 account, the Teachers. Pension Account, to be kept of receipts and expendlture. Any exces5 of income over expenditure is deemed to be invested in govemment securities and notional Interest Is added to the account.. the resultant balance is known as the'notional fund,. Page 36
ST CATHERINE'S- SPEECH AND LANGUAGE NOTESTO THE FINANCIAL ATEMENTs- continued FOR THE YEAR ENDED 31 AUGUST 2023 20 EMPLOYEE BENEFIT OBUGATIONS- contlnued Scottish Equitable Group Personal Pension Scheme The Charity also operates a defined contribution group personal pension scheme, the assets of which are held separately from those of the Charity in an independently administered fund. The tharge for the year represents the cost of employer's contributions to the scheme for the year for those employeès opting to join the scheme. Contributions are made by both employee at)d employer based mainly on a percentage of the employee'5 Salary. The employer's contribuiion is between 1% and 4 21 C4prrALCOMMITMENTS 2023 2022 Contracted but not provided for in the financial statements 355,586 32,611 The 2023 commitment Telates to work5 on property Improvements started before the year end. The 2022 commitment relates to a minibus oidered in the year to 31 August 2022 but noi received until the current period. 22 REL4TED PARTY DISCLOSURES During the year, the Charity 1Ved income of £nil12022 . £nill from the Trustees under normal operating conditlons. During the year the parent charity has charged rent and management charges to the subsidiary for the value of £102,00012022= £68.0) and £60.LK)012022.. £60,000) respectively. At the year end the subsidiary owed the parent £487,33112022.. £445,576) which is lent on an interest free basis. 23 SUBSIDIARY UNDERTAKINGS The charity has a subsidtary. bein& St Catherine's- Speech and Language for Young Adult$ and Adults Ltd. which is linked by a uniting direction under s96 of the Charities Act 2006 and the results of the linked charity have been aggregated with the reporting charity following best practice as laid down in the Statement of Recommended Practice"Accounting And Reporting By Charhties" ISORP 20191 issued in October 2019. 24 ULTIMATE CONTROLUNG PARTY The charity was under the control of the trustees throughout the year. 25 LEASING AGREEMENT5 (GROUP AND PARETruI Minimum lease PByments under hire purchase fall due as ft>llows: 2023 2022 Net obiligations repayable Within one year Between one and five years 5.378 16.580 21.958 Page 37