REGISTERED COMPANY IIUMBER: 01757474 (England and Wales) REGIERED CHAR NUMBER.. 288148 REPORTOF ThE TRUSTEES AND CONSOIIOATED FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2024 5TCATHERINE'S- SPEECH A14D LANGUAGE Bright Brown Limited Chartered Accountants Statutory Auditor Exchange House si. Cross Lane Newport Isle of Wi8ht P030 5BZ 'AE3LX5111* 2wosr2025 COMPANIES NOUSE A18
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ST CATHERINE'S- SPEECH AND LANGUAGE CONTENTS OF TrIE FINANOAL STATEMEIITS FOR THE YEAR ENDED 31 AUGUST 2023 Page Report of the Trustees Ito8 Report of the Indepèndent Auditors 9toll Consolklated Ststernent of Flnancial Arti¥ili 12 Consolldated Balance 5he41 13 Parent Statement of Flnawial Activits 14 Parent Balance Sheet 15 ConscAklattd Cash Flow Statement 16 Notes to ihe Consolidaied Cash Flow Statement 17 Parent Cash Flow Statemen¢ 18 Notes to the Parent Cash Flow Statement 19 Notes to the Finan¢ial Statements 20to37 Oetalled Statement of Flnanclal Acti¥lts 38to40
ST CATHERINE'S- SPEECH AND LANGUAGE REPORT OF THE TIIVSTEES FOR THE YEAR ENDED 31 AUGUST2024 The trustees who are also directors of the charity the group for the purkV)ses of ihe Companies Att 2006. psent their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accguntirbg and Reportin8 by Charities: Staternent of Recommended Prattice applicable to charities preparing their accounts in aCcordae with the Financial Reporting Standard appIable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. OBJEcllvES AND AcnvmES ot¥ectives and aims The relief of sicknes5, poverty, hardship and distress. arnor¥ chihlren. youre people, their familie5 ond other persons who are Socially emclutled from society as a $tt of their speech. laftguage and communication needs. by.. providing a range of service5 which include advancinz their education through the runnin8 of a residential special school ènd sixth form centre. vocational iraining. integrated therapy. outreach seTrice5 and a¢fvKe and supwrt to parent5 and families.. and raisin8 public awarenes5 of the iswes affecting chihjren. young people and their families and others with speffh, language and communication needs. Oblerti¥es- St Catherine'5-Spee¢h and LanAuaKe forAduks •nd Your* Adults The objects of the Charity are the relief of sickness, poverty. harL15hip and distress amon8 young adults and adults who a socially excluded from society as a result of their speech. language and comrnunication needs. in particular bv.. lal providing edUCatn, vocational trainin& iniegrated iherapy. outreach services. advKe, sUPPOrt and care.. Ibl raising public awarene55 of the issw affectin8 those with speech. languèie and communication needs. Public beneftt The 8rd of Trustees undefStand5 the requirernents as set out in Section 17151 of the Charities Act 2011 and takes the view that St Catherine's completely satisfies all gUIdae isstsed by ihe Chèrity Commission with regard to public benefit. ACHIEVEME14T AND PERFORMANCE Charltable actlvltles Introdu¢iion Si Catherine'5 is a national charity workin8 Wlth children and young people with severe and lifelong speech, lar¢guaBe and communication needs and a range of associated issues including autistic spectrum condity"ons. dvspraxba and dyslexia. Our aim 15 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 ihe Isle of Wight pro¥es.. 5peciolist education through a school and 5ixih form colle8e.' ¢ntensi¥e speech and language therapyaftd occupational thefapy which is integrated into rhetuffvIrn- residential eare provision. which supports St Catherine's to deliver a waking day curricvlurn., life-relevant skills and opportunities to develop social inieraciion to prepare Yo& people for their transition to more indepenLYeni adulthood.. St Catheftne's Post 19 Provtsioft a specialist Post 16 Institut delivering a railored servtce of education, therapy. residential accommodation and 5UPPOrt to develop independee ski11s- and out-of-school activrties. Page I
ST CATHERINE'S- SPEECH AND LANGUAGE REPORTOF THE TRUSTEES FOR THÉ YEAR ENOED 31 AUGUST2024 Our approach.. 5UPPOrt5 effective learning- builds confidence and 5eff-e5teem- and reinforces the imkX)rtance of providing wide-rarvdire personal development opportunities. Performance re¥lew f¢x the perfod 1st Septemb¢r 2023 to 31st AUSt 2024 Our Strategic Aims for 2022-2027 The aim of the trustees is for St Catherine's to be the place of th0e for ihe education of young people with speech. language and communication need5. Underpinningour strateÈic aim are the four pillars of- Saf¢8uardlng An ab501vte foundation for the school whL¥e the emphasis has been and continues to be delivering a safe, stspportive and Secure learning environment for staff. pupils, parents visitor5 to the school. A place Whe all staff are vlgilant and confident in dealifig with all safeguarding issues. Therapy and Care Enabling a culture to thrive where the welfare of the yourvd person is ai the centre of all that we do and is ambitious for the pro8re$5 of every siudent. A place that is homety. Safe. %Èture and comfortable. where physical. emotionèl. sc&ial and mental health needs are met and life opportunities are enhanced. Resource5 An ongoing commitment to rnaintain a sustainable fiThaTrck)I posiln through prudent management of the school's resources and finances ané plannin8 for the long-term. P•op Recruiting, developinz and retainin8 talented stafl who share 0vrvls. St Catherinrfs School and Coley Each gf our students has complex special edvcatJnal needs and each has hislher own indi¥idualised eduCatn81 and residential programme integrating high quality leamin& speech, language and occupational therapy and life-relevant skills. Our students eomÈ from across the UK as well as from the Isle ol WiBht. Demand withih our school and colle8e provision rernains high and this year our student numbers reached our rnèximum capacity of 94. In February 2024. we had a 3-day Of5ted edLKation and so¢Yal care in$pettn for our school and college. We were delighted with ihe results of the inspection, which saw our social care provisKn continue to be rated as OulStandin8 and our education element graded Good. Hi8hli8hts from the report include.. "Pupi15 flourish at this school due to the strDng emphasrs on developin8 their communication skills and the w3V that they intÈract with others. Staff at the sch¢)ol are ambitious for each pupil, cefusiTrg pkce barriers on what they can achiève." e therapeutic and health team provides expert guidance and support to ensure that Pratte is well informed and makES posilive difference to students. lsves.- Page 2
STCATHE RINf5- SPEECH AND LANGUAGE REPORT OF THE TRUSfEES FOR THE YEAR ENDED 31 AUGUST2024 e school's curriculurn and assessment systems have been (arefulty conSided to celebrate each step forward that pupils make and identrfy any significant barriers. Thbs aPPrh is particukrfy well developed in relation to pupils. speech and communication. where the 5chcx)l excels." -Parents value and praise the qualily of CO an¢J attention that staff give to re$entIal students. One parent said.. 'They are amazin& always so receptive. l am realty impressed with ihe arTrt of comrnvnKaiion. Everyone know5 the childn really well. They are doing everything right.- We continue to de¥elop our school and cdlege to best meet the need5 of our 5tudeThts, particular in terms of transition froffl St Catherine's. With this in mind, in Septernber 2024. we recruited a Job Coach to SUPkH)rt our students at work experience. as well 35 tts strengthen r connettion with local businesses. This position has proved successful in terms of de¥elopin8 work experience opportunties. As well as ensuring we have the rieht staff to meet the needs of our students. we are undertaking a sienificant pvoject to irnprove and refurbish our buildin85. In the year 2023124. we spent over £lm on this project and we plan to spend a significant amount on builéings during theC1m8 financTral year. Post 19 Our Post 19 provision continues to provide much.needed residential supFort. speech and language therapy and occupational therapy for students aged 19 to 25 with speech, language and communication needs. In total. during 2023124. 14 students benefited from the proYi5Kin.' all of these youn6 at%ults are ldn(la1 students livin8 in accommodation provided by St Catherine's and attending further educatK)n courses at ixal colle8e provis. The Post 19 Provision is inspected twice-yeady by the National Youth Advw3cy Service and receNes positive feedback. Nighlighrs from NYAS in5peuions include: oun8 people are supported in o stren8ths4)ased way at these hOrr- staff think abwt the individual's interests and wishes and they are supported to pursue tbese.- The is a real team approach from the Aaff. the manatement and thetheraJ)v team to enable each individual to progress.- C¢mmunity Aaivities St Catherine's supports rts local comrnunity in a nurnber of ways. It provides grant-funded holiday club5, vjhich a open to youn8 people with additional needs. as well as 8iving acce5S to its Sports facilities to the Ial football team. FINANCIALREVIEW Flnan¢lal Poslllo Total Incorne for the year to 31 August 2024 wa5 É5.n6.219 12023.. £4.949.7> and toial expenditure in the year was £5,423,91712023.. E4.760.0041- Total assets as at 31 Au8USt 2024 were £6.232.64012023.. £5.935.7321 and totsl lièbilitses were £2.li.840(2O23.. £2.166,2331 Page 3
ST CATHERINE'S- SPEECH AND LANGUAGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 FINAfr4CIAL REVIEW- contlnued The Charity reports an overall Sur$ fL>r year. belore other retognised gains and losses, of £362.302 12023. £189.7861. A surplus of £241.414 12023_. £117.7531 w05 from unrestre funds and a surplus of £,120,888 12023.. £72.0331 was from restritted funds. Transfers of £83.47712023: £84.2251 were rnade during the period a5 detailed In the notes to the financial stattments. Toral funds to carry forward at 31 August 2024 We £4.938,801 12023.. £4,368.4991 of which £4.825.745 12023.. E4,292.8541 were unrestricted funds and £113.056 12023.. E75.6451 were restritted funds. Des4nated funds wirhin nrestritted funds amounted to £4.585.13012023.. £3.546.4771. Details of desvdnated funds are intluded in note 19. ension defl¢lt The charity has been re admitted into the IOW Council Pension Fund and the audited atcounts have been updated to show a pension scheme surplus of £807.LXN)12023.. E599.0(lI follo& an attuarial gain on defined benefrt schernes of £208.CoI2o23: £596,() in the 12 rrKJnths to 31 AuKust 2024. Fundraising The charity or8anise5 a number of rt$ own fundraisin8 events or SUPPLKts third-parry organisers, bui >th have been limited by the pandemic. No professional fuThdraisin8 organIsat$, agenry or commercial participator has been or will be employed. as a matterof Current polo. The Charity is registered with the Fundraising Regulator and conforms to its Code of Standard5. It also complies with guidelines publi5he¢J by the Charity Commission and the Institute of Fundraisifftg. The Charity monitors fun(Iraising on tts behalf by attendance at events. or w•here public collecrion5 are being made, by identify checks on collectors. 155uing clear guidelines on practices and instructions for remitting funds, and 15suing letters and badges of identification with contatt details for the char. No complaints regarding fundrai51n8 were received during the year. Re5eNes poll In it5 financial plannin8 Jnd exec10. St C•therinÈ'% trustees aim to prepa ènd deler an annual budget with a surplus of at least 2% of total irKorne to conlribLrte towart15 the aim of building re5erve5 equating to term'5 operatin8 costs. The chariws audited accounts forthe year endin8 31 August 2024 s)w. an operatKJnal unrestridetl year end surplus C+f £241.414 leouivalent to +4.4% of total income).. and free reseThes of £240,615 which represents 15.J%of i tem's optoting costs of £1.586.668 A5 part of the charity's overall risk management strategy. trustees will continue to monitor closefy the 8eneral ServeS, fund with a view to achievinz a position equivalent to one term's operating costs. including reviewing asset5 currently hel with a view to converting surplus 355eis into cash resour. Paze4
ST CATHERINE'S- SPEÉOIAND LANGUAGE REPORTOF THE TRUSTEES FOR Thf YEAR ENDE D 31 AUGUST2024 SUbSIDIARY UNTERTAKINGS The charity has a subsidiary. bèin& St Catherings- Speech and LanguaBe for youn8 advlt5 and adults Ltd, whKh is linked by a uniting direetion under $96 Of the Charities Att and the results of the linked charity have been aggregaied with the reporting charity following best practice 35 down in the Statement of Recommended PraCte -Accounts and Reporting by Charities ISORP 20191 issued in Ottober 2019. STRucfuRE, GIMRNANCE AND MANAGEMENT Governlng document The charity is controlled by tts gDveminÈ dotument, a deed of trust. and constitutes a limited company. limited bv guarantee, as defined by the Companie5 Aa 2006. Reeruitmont and appointment of new trusteès Trustees are crUited openly and Ihrou8h recomirendation from appoifttin8 bodies and thmu8h parentlfamily presentation. In addition to thi5 the board has two stsff eletted goverThys. The appointire IKsdies are as follows.. -The 8i5hop of Portsmovth -The Port5rn0Uth Oicce5an Education Committee - The Isle of Wight Local Authority - Thelsle of Wight College Eletted trustees are. after nomination. eletted by majority Vote. Staff governors are nominated, Seconded and needed) voted for by the staff body. Parent SOn01$/Ir$tees are parents of children either at. or recent at. St Catherine's. The day to day management of the charrty is ihe responsi"1 of the prirKipal. The Pay Committee has SponsIbl11ty for setting ihe remvneratAw of Key management pewnnel in lifte with industry 5tandaré5. Indudion and irainir4 of newtru#ees All new trustees and governors receive induction trainine anLI training dull the year Dn the work of the Charity and on specift issues. Some of this training is combined th staff training. STrUCTUAE. GOVERNANCEAND MANAGEMENT Risk Management The trustee5 have a risk malla8em*nt stTate8y which comwises: Regular reviews of the risks the Charity may face.. The estsbli5hment of systems and prLKedures to rnitte those risk5 thntified in the review5- and The implemeniation of procedure5 designed to minimise ary tential impatt on the Charity, should those risks terkilise. Page 5
ST CATHERINES- SPf ECH ANO LANGUAGE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 REFERENCE AND ADMINtsTRAvE DETAILS Restered Company nufflber St Catherine's-speech and Language- 01757474 (England and Wales) St Catherine's- Speech arbd Language for Adults and Young Adults- 12675770 Register Charfty number St Catherine'5- Speech and LanguaÈe-288148 St Catheiine's- Speech and Language for Adults and Youn8Adults- 288148-2 Re8lstèrÈd offi Grove Road Ventnor Isle ol Wight P038 1 Trust• Danny Camiiehael Roger Rickman Henry 8lacksell Susan Churches Dudley Oelannoy Pete Elliolt Anthony Flower Martyn Heathef Hayley Jarvis Michael Loftus Sarah Loftus John Mettalfe Graham Pengelly Mark Rhodes Caroline Weeks Appointed October 2023 Appointed November 2024 Appointed February 2024 Resigned 30 September 2024 Resigned Dernber 2023 Resi8ned May 2024 St•flAppolnted Go¥ernoffs Wictoria Middleton Katy Kidd Resigned Marth 2024 Appointed March 2024 Parent Go¥ernor Karl Hunter Appointed October 2023 Page 6
ST CATHÉRINE'S- SKECH AND LANGUAGE REPORT OF THETRUSTEES FOR THE YEAR EP4DED 31 AUGUST2024 Senlor Managernent Team Sarah Thompson Jenn Walker VOr Middleton- resigned March 2024 Katherine Ctstton-apN)inted Mardb 2024 Nes Fradtlev Jg Ellh?tt Tom Evans Wice Principal Head of Care Head of School Head of Sixth Form Head ol Occupational Ther3pv Head Of Speech and Language Therapy Xayleigh Sparke5- resi8ned February 2024 Hannah Miles- aPFointed Febryry 2024 Zoejanvrin Susan Grnve5 Head of FIrnCe Marketing and Fundrabslng Manager Company St¢rttary Zoejanvrin Auditors Bright 8rown Limited Chartered Accountants Stètutory Auditor Exchan8e House St. Cr05s Lane Newport Isle of Wight P030 58Z Page 7
ST CATHERINE'S. SPEECH AND LANGUAGE REPORT OF THE TRUSTEES FOR THÉ YEAR ENOED 31 AUGUST2024 STATEMENTOF TRUSTEES. RESPONBILE5 The trustees Iwho are also the éirettors of 5t Catherine's speech and Language for the purpose5 of company lawl are sponsible lor preparing the Report of the Trusiees and the financial statements in accordance with applicablt law and Unite(l King(ltsm Accountithg Standards (United Kingdom Generalfy Accepted Accounting Practice). Company law requires the trustees to prepare financial yatements for each financial year whh give a true and fair view of the state of affairs of the charitsble company and of the incornin8 resource5 and application of resources, includin& the income and expenditure. of the charitable compary for that period. In weparing those finarKial statemenis. the trustee5 are required to Select 5Ultable accountin¥ policies and then applythem consistentlyt observe the rnethod5 and principles in the Charity SORP: make judgements and estimates that aTe ieasonable and prudent.. prepare the financk)15tatements on the eoing concern basis unle5$ it is inapproprsate to presume that the charitable company will continue in business. The trusiees are sponsible for keeping proper accounting records which disck)se with reasonable accurary at any time the financial wsition of the charitable company and io enable Ihem to ensure thai the financial staternenis comply with the Companies Act 2006. They are also resp)n5ible for safeguarding the assets of the charitable tompany and hence lor taking reasonable step5 forthe prevention and tjetedion of fraud other Irregularit5. In so far as the trustees a aware.. the is no relevant audtt information of which ihe charitab company's auditors are unaware.. and thE trustees have taken all steps that they ought to have taken to make themsefves aware of any lant audit information and establish that the auditors are aware of that information. AUDITORS The auditors. 8ri8hi Brown Limited. will be proposed forre-appointment at the forthcoming Annual General Meeting. This report has been ppared in aordanCe with the special pro¥isK)ns of Part IS of the Companie5 Act 2006 relating to small companies. Approved by order of the iK)ard of trustee5 on 22 May 2025 and 5i8ned on its behalf by-. Graharn Pengelly- Trus Page 8
REPORT OF THE INDEPENDENT AuorroRSTO THE MEMBERS OF sr CATHERINE'S- SPf ECH AND LANGUAGE Oplnlon We have audited the financial statements of St Catherine's - Speech And Language (the 'parÈnt charitable companv'l and lis subsidiary (the 'charit3ble group'l for the yèar ended 31 August 2024 which comprise the consolidated and parent Statement of Financial Activities. the consolidated and parent Balance Sheet. the consolidated and parent Cash Flow Statements and notes to the finantial staiements. including a summary of significant accounting policies. The financial reporting framework that has been apled in thÈir preparation is applicable law and Unrted Kingdom In our opinion the financial statement5: give a true and fair view of the state of the group's and parent charitsble company's affaiis as ai 31 August 2024 and of the group and pareni incoming resources and application of resource5, including its incomè and expenditure. for United Kingdom Generally Accepted Accountin8 prarti.. and have been prepared in accordancÈ with thÈ reqvirements of the Companies Aci 2[. 8asls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Oyr re5ponsibilitie5 under those standards are hjrther described in the Auditors. re5pon5ibilities for ihe audit of the group and parent financial statemenis section of our report. We are iThJependeni of the group and parent charitsble cornpany in accordance with the Èthical requirements ihat are relevani to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled OLJr other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtainetl is sufficient and appropriate to provide a basis for our opinlon. Conclusions relating to going ci)ncern In auditing the financial Statements. we have concluded that the trustees. use of the going ConrA basis of accounting in the preparation of the finanaal statements is apwopriaie. Based on the work we have pèrformÈd. we have not identified any material uncertainties relatin8 to events or conditions that. indiwdually or collectivety. may tsst signifitant doubt on the Eroup's or parent's charitable company's ability to continue a5 3 going contern for a period of at least twdve months from when the financial statements are authorised for issue. Our re5pon5ibilities and the responsibilities of the trusiees with resped to goin8 concern are described in the relevant sedion5 of this report. other informatlon The trustees are responsible for the other information. The other information cornpri5e5 the inforrn?tion included in the Annual Report. other than the financial statements and our Report of the Independent Auditor5 thereon. Our opinion on the finanoal siatemenis does not cover the oiher information and. except to the extent otherwise explieiily stated in our reporL we do not èxpress any form of assurance conclusion thereon. In connection with our audit of the finanual statements. our responsibility is to lead the othe¥ informalion and, sn doing so, ¢onsider whether the other information is materially inconst51ent with the financial statements or our knowled8e obtained in the audit or otherwise appears to be rnaterially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether th¥s gives rise to a material misstatement in the finantial statemènts themselves. If. based on the work we havè performed, we conclude that therè bs a material misstalement ol this other information, we are required to report thal fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2th)6 In our opinion. based on the WO undertakèn in the tourse of the audit.. the information given in the Report of the Trustees for the financial year for which the financial staternents are prepared Is consisreni with the financial stateMtS.. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by èxceptlon In the light of the knowledge and undersianding of the group and parent charitable company and its environment obtained in the Course of the audit, we have not identified material misstatements in the Report of the Tru5tee5. Page 9
REPORTOF THE INDEPENOEf4T AUDffORS TO THE MEMBERS OF ST CAThERINE'S- SPEECH AND LANGUAGE We have nothin8 to report in respect of the following matters where the compan Act 2006 requires us to report to you if. in our opinion: adequate accounting records have not been kepi or turnS adequate for our audit have not been received from branches nol wsiied by us; or the financial statements are not in a8reement with the actounting retords and feturns- or tain disclosures of trustees. remuneration specified by law ère not made.. or we have not received all the information and explanations we require for our audit.. or the trustees were not entitled to take advantagÈ of the srnall companies exemption from the requiremeni to prepare a Strategic Report or in preparin8 the Report of the Trustees. Responsiblllties of trustees As explained more fully in the Statement of Trustees, Respon5ibilitie5. the trustees (who are a150 the dirertors of the group charitable company for the purposes 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 suth internal control as the trustees determine is necessary to enable the Pfeparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparin8 the financial statements. the trustees are responsible for assessing the youp and parent charitable ornpany'5 ability to continue as a going concern. disclosin& as applicable. matter5 related to Èoing conorn and usin8 the 80ing concern basis of acrounting unle55 the trustees either intend to liquidate the eroyp and parer¢t charitable comoanv or to cease operations. or have no realistic alternative but to do so. Oyr responsibblitie5 for the audit of the finantial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material missiatement. wheiher due to fraud or error, and to issue a Report of the lndependeni Auditor5 thai includes our opinion. Reasonable assuran is a hiBh level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always ttetect a material rni5Staternent when il exist5. Mi55tatements can arise from fraud or error and are considerèd rnaterial if. individualty or in the aggregate. they tould feasonably be expeued to influènte the economic decisions of users taken on the bas of these financial statements. IrreEvlaiities, including fraud, are instances of non-complian with 13W5 and re8ulation5. We desigrb procedure5 in line with our respgnsibilities. outlined above. to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of deteain8 irregularities, including fraud is detailed below- Based on our understanding of the group and parent charitable company. the principal risk5 are that of management override of controls. potential fraud in revenue recognition. recovery of trade debtors. and valuation of defined benefit pension schemè. The engagement team considered these risks and audit procedures were undertaken ès follows-. A rèview of journals made in preparing the final ultS for preparation of thÈ actounts. and a review of occounting èitimates made by management. A review of transactions arbd records to ensure there are no transactions that have no apparent commercial purpose or that are proSed outside the usual accounting Svsiems. 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 ineome. Discussions with management regardin8 the ability to override controls and reeW of processe5 in place to confirm no override had occurred Ctsn5ideration of defjned benefit pen%on scheme reyJlts from reviewing artuary reports and entries made into financial statements. Discussions wirh management. including consideration of any known or susperted instances of non-cornpliance with laws and regulations or fraud. Pa8e 10
REPORTOF THE INDÉPENDENT AUDifoRSTOTHE MEMBERS OF ST CATHERINE'S. SPEECH AND LANGUAGE Thère are inherent limitations in the audit procedures described above. and the further removed non<ompliance with laws and regulations is from the events and transactions reflected in the financial staternents. the less likely we are to become aware of it. The risk of not deiectir8 a material misstatement due to fraud is higher ihan thè risk of not detecting one resultin8 from error as fraud may involve deliberate conoalmeni or intentional rnisrepre5entation5. A further description of our responsibiliiies for the audit of the financial statements is located on the Financial Rèporting Council's website at www.fr¢.or&uk/auditorsresponsibilities. This desuiption forms part of our Report of the Independènt Auditors. Use of wr report This report is made 501èly to the rent charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the parent charitable company's member5 those mattèrs wè are required to state to them in an auditors. report and for no other purpose. To the fullest extent permitted by law, wè do not accept or assume responsibility to anyone other than the group and parent charitable company and the parent tharitablè company's members as a body. for our audit work. for this report, or for the opinions we have formed. David Stevens ACA (Senior Staiutory Audiiorl for and on behalf of Bright Brown Urnited Chartered Accountants Statutory Auditor Exchan8e House St. Cross Lane Newport Isle of Wight P030 5BZ Pa8e 11
ST CATHERINE'S- SPEECH AND iA146UAGE CON50UDATED STATEMENT OF FINANCIALAcfiviTIE5 (INCORPORATING AN INCOME AND EXPENDITURE AccouNn FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 UnstIled Restrilled funds Total funds Total funds funds Notes INCOME FROM Donations and legacies Charitsble activities 60.671 335.854 396,525 252,950 Educational services oiher trading activities Investment income 5.336.845 46.630 6.219 5.336.845 46.630 6.219 4,649,928 43,751 3.161 Total 5.450.365 335.854 5,786,219 4,949,790 EXPENDrfuRE ON Raising funds Charltable actItIeS 112.641 1.196 113.B37 93,932 Edutational services 5,096.310 213.770 S.310.080 4.666,072 Total 5,208.951 214,966 S.423.917 4.760,004 INCOMEIIEXPENDrfuREI Transf*fS betwèèn lunds Other recognlsed 8ainslllosses) Artuarial 8ains on defined benefit schemes 241,414 83.477 120.888 183.4771 362.302 189,786 20 208,C 208,CXJ) 596,OCK) Net movement In fvnds 532,891 37,411 570,302 785,786 RECONCILIATION OF FUNDS Total lunds brought forward Total fvnds brought forward 19 4.292.854 75,645 4.368.499 3,582,713 TOTAL FUNDS CARRIED FORWARD 4.825.745 113.056 4.938,801 4.368,499 CONTINUING OPERATIONS All incomÈ and expenditure has arisen from continuing actilIeS. These noies form part of these financial statements Pa8e 12
ST CATHERINE'S- SPEECH AND LANfjUAGE CONSOUDATED 8AiANCE SHEET FOR THE YEAR EIIDED 31 AUGUST 2024 2024 2023 Unrestricted funds Restrirted funds Total funds Total funds Notes FIXED ASSEIS Tangible a55ets 14 3,973.699 3,973,699 3,184.836 CURRENT ASSErs Debtors Gish at bank 16 1,483.380 662.50S 1.483.380 775.561 2,592,736 158.160 113.056 2.14S.885 113.056 2,258.941 2.750.896 CREDITORS Arnounts falling due within one 17 (1.771,7Ll 11.771,7081 11,809,470) NET CURRENT ASSETS 374,177 113.056 487,233 941,426 TOTAL ASSEfs LESS CURRENT UABILtTIES 4,347,877 113,056 4.460.933 4,126.262 CREOITORS Amounts f3llin8 dLtè after more than one year 18 1329.1321 1329.1321 1356,7631 PENSION ASSET 20 807.L 807,OC 599.000 NET ASSETS 113 056 01 499 FUNDS Unrestricted funds 19 4,825,745 113,056 4,292,854 75.645 Restricted funds TOTAL FUNDS 4 938 801 4 368 499 These financial statements have been prepared in accordan with the provisions appjicable to tharitable companies subject to ihe small companies regime. The financial statements were appro¥e(I by the 8oard of Trustees and authorised for issue on 22 May 2025 and were signed o behalf by: Graham PenBelly- Tr lee These notes fomi part of these financial statements Page 13
ST CATHERINE'S- SPEECH AND iANGUAGE PARENT STATEMENT OF FINANCIAL AcrNmES IINCOAPORATING AN INCOME ANO EXPENDffURE ACCOVNn FOR THE YEAR ENOED 31 AUGUST 2024 2024 2023 Unrestrirte(I funds Restricted funds Total funds Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and legacies Charitable artivttles Educational seThices 335.854 366,194 252,950 4.182,767 4.182,767 3,583,650 Other trading activities Investment income 148.630 6.219 51.( 148.630 6.219 S1,0j 145.751 3,161 60,000 Other Income Total 4.418.956 335.854 4,754.810 4,045.512 EXPENDITURE ON Raising funds Charitsble artl¥ltie5 112.641 1.196 113,837 93.932 Edutational sèrvices 4.198,528 213.770 4.412,298 3,932.828 Total 4,311.169 214.966 4,526.135 4,026,760 P4Ef INCOMEIIEXPENtXTUREI Transfers between funds Other re¢o8ni5ed gainsll1055esl Actuarial Bains on defined benefit schèmes 107.787 83,477 120.888 183.4771 228.675 18,752 208.1 208.¢XJJ 596,OCrf) Nei movemént in fvnds 399.264 37.411 436,675 614,752 RECONCILIATION OF FUNDS Total funds brought forward Total funds brought forward 19 3.884.850 75.645 3.960.495 3.345,743 TOTAL FUNDS CARRIED FORWARD 4.284.114 113.056 4,397.170 3,960,495 CONnNUING OPERATIONS All income and èxpendilure has arisen from continuing aCtitIes. These notes form part of these financial statements Pa8e 14
STCATrIEIUNE'S- SPEECH AIID LANGUAGE PARENT BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Unrestricted fiJnds Restrirte(I fvnds Total funds Total funds Notes FIXED ASSETS Tan8ible assets 14 3,917.962 3,917,962 3.130,352 CURRENT A5SErs Debtors 16 973.41X) 424.658 973.4 537,714 1.806,804 147,585 Cash at bank 113,056 1.398.058 113.OS6 1.511,114 1,954.388 CRED0$ Amounts falling due within one year 17 (1.509.773) 11,509.773) 11.366.4821 NET CURRElA$SEr$ 1111.7151 113.056 1.341 587.906 TOTAL ASSETS LESS CURRENT IIA8ILmES 3.8(6.246 113,056 3,919.302 3,718.258 CREDITORS Amounts falling due after more than one yèar 1329.1321 1329.1321 1356,7631 PENSION ASSET 20 807,( 807.000 599.(lJO ASSErs 4 284 114 113 056 4 397 170 3 960 495 FUNDS Unresiricted funds 19 4.284.114 113.056 3.884.850 75,645 Rèstricted fund5 TOTAL FUNDS 4 397 170 3 960 495 These financial statements have been prepare¢l in accordance with the provisions applicabfe to charitable companies subject to the small companies re8ime. The financial statèmenis werè approved by the Board of Trustees and authorised for issue on 22 May 2025 and were Signed on its behalf by.. Graham Pengelly Trustee These notes form part of these finantial statements Page 15
ST CAThERINE'S- SPEECH AND LANGUAGE CONSOUDATED CASH FLOW STATEMENT FOR THE YEAR EMDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operating arti¥ltles Cash generated from operations Interest paid 1.561,564 114,2011 746,216 115,1011 Net cash lused inllprovided by operatin8 activities 1.547.363 731,115 Cash flows from inves% artivities Sale of tan'ble fixed assets Purthase of tangle fixed assets 10.284 1913.7841 1675,2491 Net cash used in investing artivities I3,5[? 1675.2491 Cash flows from financing acti¥ltlès New loans in year Loan repayments in year 21,959 125.5641 126.4621 Net cash prove by financin8 artivitie5 126,4621 13,6051 ChanBe in cash arKI cash egulvalents Sn the reportln8 perfod 617.401 52,261 Cash and cash equl¥alents at the brylnn•n8 of the reporting period 158,160 105.899 Cash and tash equlvalents at the end of tht reporting perlod 775.561 158,160 These notes form part of these fjnancial statements Page 16
ST CATHERINES- SPEECH AND LANGUAGE NOTES TO ThE CONSOUDATED CASH FIOW STATEMEIIT FOR THE YEAR ENDED 31 AUGU 2024 RECONCILIATION OF NET IEXPENDITVRE)IINCOMETO NEf CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 Net lexpenditurellincome for the reportine peri1 las per the Statement of FJnan¢ial ArtNitiesl 362,302 189,786 Adjustments for. Depreciation charges ProfTrt on sale of assets 124.921 110,2841 14.201 1.109,356 138.9321 133.766 Interest paid Decreasel(increasel in debtors IDeueasel/tncrease in creditors ls.ioi 11,058,8231 1.466.386 Net cash {used inllpro¥ided by operatlons I,S61.564 746.216 ANALYSIS OF CHAIIGES IN P4Er FUND5/IDE8T) At 1.9.23 Cash fftow At 31.8.24 Nel cash Cash at bank 158.160 617.401 77S.561 158.160 617.401 775.561 Finance leases Debts fallin8 due within l year Debts falling due within 1-2 yea Oebts falltng due within 2-5 years Debts falliryg due over one year 121,9591 120.7331 121.8891 171,245} 1247.0491 5.377 11.1701 19191 12.9941 26.168 116.5821 121.9031 122.8081 174.2391 1220,8811 1382,8751 26,462 1356.4131 Total 1224.7151 643.863 419,148 These notes fom part of these financial statements Page 17
sr CATH£RINE'S- SPEECH AND iANGUAGE CASH FLOW STATEMENT FOR THE YEAR ENOED 31 AUGu¥f 2024 2024 2023 Note5 Cash flow5 from operating activities Cash generated from operations Interest paid 1.328.715 114,2011 679,044 115,1011 Net cash lused inllprovided by operating artiwties 1,314.514 663.943 Cash flows from Irwe5tlng aclivities Sale of tarbgible fixed a$5elS Pur¢hase of tangible fixed assets 10.284 IS.207) 1617,5801 Net cash used in investing aciiwties 1897.9231 1617.5801 Cash Ilows from financing activities New loans in year Loan rÈpayments in year 21.959 125.5641 126.4621 Net cash provided by financin8 artiwtie5 126.4621 13.6051 Change in cash and cash equivalents in the reporting perlod 390.129 42.758 Cash and $h equfvalents at the btynnlng of thé reportinz period 147,585 104.827 Cash and cash equivalents at the end ofthè reporting peri( 537.714 147,58S These notes form part of thèse financial statements Pa8e 18
ST CATHERINE'S- SPEECH ANO iANGUAGE NOTES TO THE PARENTCASH FLOW STATEMEKr FOR THE YEAR ENDEO 31 AUGUST 2024 RECONCILIAnOII OF IEXPENOITUREIIINCOMETO CASH FLOW FROM OPERATING AcnvtTIES 2024 2023 Net lexpendlturelllncome for the reportln£ period las per thè Statement ol Fin•nrial Activities) 228,675 18,752 Adjustments for.. Depreciation charges Profit on sale of assets 120.598 110,2841 14.201 832,233 143,291 130,358 Interest paid llncreaselldecdse in Llebtors Increase in creditOTS 15.101 {539,0611 1.053,894 Net cash lused Inllpro¥lded by opèrntions 1,328,715 679.044 ANAIY515 OF CHANGES IN NET FUNDSIIDEBn At 1.9.23 Cash flow At 31.8.24 Net cash Cash at bank 147,585 390,129 537.714 147.585 390.129 537,714 Debt Finance leases 121.9591 120.733) 121,8891 171.2451 1247.0491 5.377 11.1701 19191 12.9941 26.168 116.5821 121,9031 122,8081 174.2391 1220.8811 Debts fallin8 due within l year Oebts falling due within 1-2 years Oebts falling due within 2 -5 years Debts fallin8 due over one year 1382.8751 26,462 13S6.4131 Total 1235.2911 416.591 181.301 These note5 form part of ihese financial statements Page 19
ST CATHERINE'S- SPEECH AND iANGUAGE NOTESTO THE FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES General Information The St Catherine's - Speech and LanguaBe is a private cornpany limited by guarantee and incorporated in England and Wales. rew'slered no 01757474. registered office Grove Road. Ventnor, Isle of Wight P038 ITh. The finantial statements are presented in Sterlin& which is the functional aJrrenLy of the charitable group. There are no material uncertainties about the charity's ability to Continue. Basis of preparing the finantial stattrm• The financial statements of the charitsble cornpany. which is a public nefft entity under FRS 102, have been prèpared in accordante with the Charilies SORP IFRS 1021 'Accountin8 and Reporting by Charities.. Statement of Recommended Practice applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the VK and Republic of Ireland (FR$ 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2CN)6 and CharitiÈs Act 2011. Thè financial siatements have been prepared under the hisrorical cost conveniion. Income All income is recognised in the Statement of Financial Artivities once the charity has entiilement to the funds, it 15 probable that the income will be receNed and the amount can be measured reliably. Voluntary Incomè Donations are reco8nised in the Statement of Financral Actrwties onte the tharttable company has entitlement to the funds, it 15 probable that the income will be received and the amount can be measured reliably. this is generalty upon receipt of the donation. Grant5 and pupil premium income 15 recognised when unconditional eknient to the income is 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 such conditions are in place the income is recoenised when it is received. Artlvities for generatln8 funds This consists of shop income and accommodation income. The shop incorne is recognised in the Staternent of Financial Activities, net of VAT when the goods are delivered_ Accommodation income is recoBnised based on the date of the stav. Investment Income Rental intome is reeognised in the pÈriod to whith the rental income relate5. Interest is reco8ni5ed on receipt. Incomlnz Rex¥urces from Charitable Artl¥lties Income from charitable auivitie5 is recognised. net of VAT and all other sales taxes whèn the Services are Provided. This consists of school fees income payable by the guardièn of the children or the local authority. EMpÈnditure Liabilities are recognised as expenditure as soon as there is a legal or ¢onstrurtive obli8ation committing the charity to that expenditure, it is probable that a transfer of economic benefir5 will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is ac¢ounied for on an acuuals bast5 and ha5 been classified under headings that aggregate 311 c05t rel3te(I to the category. Where costs cannot be directly atiributed to partF¢ular headin85 they have been allo(ated to activities on a basis conststent with the use of resoyrces. PaÈe 20
sr CATHERINÉS- SPEECH AND LANGUAGE NOTES TO ThE FINANCIAL STATEME14T5 FOR THE YEAR ENDED 31 AUGU5f 2024 I. ACCOUNTING POLICIES- contlnued Allocatrtin and apportionmenl ol costs Support Costs are cost5 related io providing direct support to the charitable company but also Èncludes IT costs. insurance. telephone and other office cost5. Governance c05t5 are audit fees and trustee meetin8 and travel expendittsre. Any such costs incurred dvrin8 ihe year that are not dirertly attributable to the charitable activities of the organisation are allocated on the proportion of total direct C95ts required to suppori eath ctivitv. Tangits rued assets Fixed assets are recongi5ed at C05t. Depreciation is prwded at the following annual raies in order to write off each asset ovef its estimated useful life. Freehold propertv not prowded Lon8 leasehold r the period of the lease lrnprovements to proper Straight line over 3- 50 years Plant and machinery Strai8ht line over 3- 50 years It is the charity's policy not to depretiate freehold property as the irustees believe they are held in good repair and annual improvements are tarried out. The trustees consider this polKy best reflects ihe value of freehold property- In¥e5tmenls Investments in subsidiary companies are recognised ai cost where applicable. Taxati(*Tr The charity is exempt from corporation tax on it5 charitawe artivit5. Fund accounting Vnrestrtcted funds can be used in accordance with the charitable obje£trves at the discrelion of the trustees. Restricted fund5 can only be used for particular restricted purposes within the objerts of the charity. Restrictions arise when specified by the donor or when funds are raised for particular re5trirted purposes. FurthÈr explanation of the naturè and purpose of trath fund is Intrud in the notes to thè financial statemènts. Hire purchase and leasint commitments Rentals paid under operating leases are charged to the Statement of Financial Activ[tS on a straight line basls over the period of the lease. Penslon ¢ost5 and other post.fet1Ment beneffts The Charity operate5 three staff pension scheme5 prOdIng benefits based on final pensionable pay as follows.. lil Teacher's Pension Scheme This is a statutory. contributory final salary scheme. It is an unfvnded scheme which is prowded for by the Superannuation Act 1972 under whtch retirement and other superannuation benefits are paid out of moniès prowded by Parliament. lill Isle of Wi8ht Counol Pension Fund This is a Local Government Pension Scheme run by the Isle of Wight Council 35 administering authority. The Fund is maintsined by the Isle of Wi8ht Council under regulations made under the Superannuations Act 1972. As the scheme is set up by statute. payment of the stheme benefits is guaranteed by law. Contributions for both schemes are thèrged to the Staiement of Financial Actjvllies so as ro spread the costs of pensions over employees, working live5 With the or83nisaiion_ Any actuarial gains or losses relating to the scheme 15 recogni5ed in the Statement of Financial Aclivities in accordance with FASIO2. Page 21
sr CATHERINE'5- SPEECH AND iANGVAGE NOTES TO THE FINANCIAL STATEMEIITS- ¢ontlnued FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES- continued PenOn ¢osts and other post-retirement benefrts lili) Scottish Equitable group Personal Pension Schème The Charity has set up a separate GfOVP Personal Pènsion Stheme. This 15 a defined contribution scheme in which the contributions are being charBed to ihe Statement of Financial ActilIeS so as to spread the cost of pensions over the employees. workin8 lives wlth ihe or8ani5ation. Financial inStrumts The charity only has financial assets and financial liabilities of the kind that qualify a5 basic finaneial instruments. 8asic finantial instruments are initialty recognised at transaction value and debt instruments are subsequèntly measured at amortised cost_ Jud8ements in applyin8 accoyntlng pollde5 In preparing these financial statements the trnstees have made the followin8jud8ement5= Determining whether income is rèstricted or unrestricted_ These decisions depend upon the whether th donor has given the income svbject to certain terms or tondirions which impose a restrirtion in trust law. Deterrnining the allocation of support costs to activities. These decisions depend upon the whether the cost can be dirÈetly attributed to an attlty or shared between specifi¢ activities. The balance of ¢05t5 IS apportioned between the activities. Key sources of estlmation nrtaInty Tan8ible fixetl assets are depreciated over their useful economic lives 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 affecting the lives of assets indude technologital innovation and maintenance pro8rammes. Basls of consolidatioft The accounts of the group con501idate the results of the cornpany and its subsidiary undertakings, St Cathèrine's Speeth ar Language for Young Adults and Adults Ltd which are made up to 31 August. The accounts are consolidate(l on a linè by line basis. DONATIONS AND LEGACIES Group 2024 Parent Group 2023 Parent 2024 2023 Donatrons Gift aid Fundraising #ctivitie5 Grants 39.477 2.419 31.352 323.277 396,525 9.146 2,419 31.352 323.277 366.194 6,286 1,721 28,230 216.713 252,950 6.286 1.721 28,230 216.713 252,950 Grant5 received, included in the above. are -. Group 2024 Parent Group 2023 Parent 2024 2023 Education Fundlng enty Ctrop Local Community Fund Other rn1rr Brants 321.277 321.277 212,460 2,150 2.103 216.713 212.460 2.150 2,103 216,713 323.277 323.277 Pa8e 22
CATHERINE'S- SPEECH AND LAMGUAGE NOTES TOTHE FINANCIAL STATEMEpifs- contlnued FOR TrIE YEAR ENDED 31 AUGUST 2024 3 OYHER TRADING AcnviTIES Group 2024 Parent 2024 Group 2023 Parent 2023 Shop income Accommodation, rent and other income 29.842 16.788 46.630 29.842 118.788 148.630 23.777 19,974 43.751 23,777 121,974 145.751 4 IIIVESTMENT INCOME Group 2024 Parent Group 2023 Parèni 2024 2023 Investment income 6.219 6,219 3.161 3.161 S INCOME FROM cHAftITA8 ACTNMES Group 2024 Parent 2024 Group 2023 Parent 2023 A¢tivity School fees- Private and local auihority funded School fees- EFA funded Educational services 3.321.401 3.233.601 2.816.983 2.816,983 Educational servitss 949.166 949.166 766.667 766.667 Post 19 incomè Edutational seThices 1.066.278 5.336,845 4.182.767 1.066.278 4.649,928 3.583.650 6 RAISING FUNDS Rai5int donalions and le8acies Group 2024 Parent Group 2023 Parent 2024 2023 Staff costs 9J.878 17.303 108.181 .878 17.303 108.181 63.649 19.501 83,150 63,649 19.501 83,150 Books. materials and small equipment Other tradlni artbvities Shop expenses 5.656 5.656 10.782 10,782 AggreBate amounts 113.837 113.837 93,932 93,932 Page 23
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO ThE FINANCIAL STATEMEP4TS- coniinyed FOR THE YEAR ENDED 31 AUGUST 2024 7 CfrIARtrA8LE AcllviTIES C05WS Group Direct Group Support costs (see note 8) Parent Parent Direct Support costs (see note 81 Group Tota15 Parent Costs Costs Totals Educational services 4.456.446 3.655.804 853.634 756.494 5,310,080 4,412.298 Analysis of direct costs= Group 2024 ParÈnt Group 2023 Parent 2024 2023 Staff costs 4.098.499 3.(6,506 3.481,320 3,066.506 113.960 95.104 115.794 95.104 33.987 23.493 28.ILKI 23.493 17,977 17,977 17,977 17,977 210.WO 225.360 4,474.423 3,203.080 3.868.551 Books and materials Medrtal. fares and ttsvel Grant repayment Post 19 Colle8e and Exam Fee5 3,203.080 8 SUPPORT COSTS Group Governance Go¥ernan¢e Parent Group Other Parent Group Tota Parent Other CQ5ts . rosts Totals Educational serwces 782.549 698.644 71.084 57.8SO 853.634 756.494 Anaty5is of direct C05ts'. Group 2024 4.500 17.414 80.527 153,790 I9.2 2.176 80.716 27.214 156.228 18.428 7.036 36.948 11.581 2,698 13,025 6.211 15.318 114.637 14.201 15.750 5,610 14,168 35.556 853,634 Parent Group 2023 ParÈAt 2024 2023 ftent Rates and water 16.657 67.581 138,224 16.634 2.176 57.812 25.081 147.773 15,502 3,933 35.958 10.555 2.580 13,025 6,211 14.428 110.313 14.201 9.630 3.330 9.334 35.556 756,494 10.480 63.447 170,648 IS.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 Insurance Li8ht and heat TelÈphone 5undries Food supplies Marketing Repairs and maintenance Licenses Refuse Minibus costs Icr costs Bank char8es Photocopier rent Bad debts Training Depreciation Bank loan interest Auditors, remuneration Auditors. remuneration for non audit Legal fees Professional fees 19.450 133.766 15.101 18.210 4.590 9.48S 37.615 797.521 17.943 130.356 15.101 12.450 2.250 9.485 36.159 729,748 Page 24
ST CATHERINtS- SPEECH AND LANGUAGE NOTES TO ThE FINANCIAL STATEMENTS- continued FOR THE YEAR ENOED 31 AUGUST 2024 9 NET INCOMEIIEXPENIXTURE) Net incomellexpenditurel is stated after char81{credItIng)= 2024 2023 Auditor5, rèmuneration Auditors. remuneration- subsidiary AuditOfS' remuneration for non audit work 8,700 5,400 4.600 124.921 110.2841 8.250 5.100 4.375 133,767 Depreciation- owned assets Profit on sale of assets 10 TRUSfEES' REMUNERATION AND BENEFITS No trustees rèceived any remuneration or other benefits for the year ended 31 AuBilSt 2024 nor for the year ended 31 August 2023. Trustees, expenses During the year total expenses paid on behalf of trustees amounted io Énil12023 '. Nill. 11 STAFF COSTS 2024 2023 Wages and salaries Social security tosts Other pension costs 3.445,722 309.606 343.171 4.098.499 2,975,568 226.850 278,902 3.481,320 IZ STAFF ANALYSIS The average monthly number of employees during the year wa5 as follows= 2024 2023 Full time Part time 70 61 67 137 76 137 The number of employees whose employee benefiis lexduding employer pension costsl exceeded £60.c was: 2024 2023 £90,CI)I- £IOO.000 The principal. Post 19 Registered Manager and deputy managef are tonsidered key management personnel. The iotal ernployee benefits for these posts were £275.73312023 = £206.5961. Pa8È 25
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENT5- r(xrtinued FOR THE YEAR ENOED 31 AUGUST 2024 13 COMPARATIVES FOR ThE STATEMENT OF FINANCIAL AcnviTIES IGROUPI Unrestricted Restricted fun(ts funds Ttstsl funds INCOME AND ENWmENTs FROM Donations and le8acies Charitablè actfvlties Educational services 34,532 218.418 252.950 4.649.928 4,649.928 Other trading artivitie5 Invement income 43,751 3.161 43.751 3,161 Total 4.731.372 218,418 4.949.790 EXPENDITURE ON Rai5in8 furKIs 84.271 9.661 93.932 (harstable artfvitles Educational Services 4.529,348 136,724 4,666.072 Totsl 4.613.619 146.385 4,760.004 NET114COME 117.753 72,033 189.786 Transfers between fvnds Other recognlsed gainslllossesl Actuarial Bains on defined benefit Nei movtment in funds 84.225 184.2251 596.(MXI 797,978 596.000 785.786 112,1921 RECONatlATION OF FUNDS Total funds brought forward Total funds brou8ht forward TOTAL FUNDS CARRIED FORWARD 3,494.876 4.292.854 87.837 75,645 3,582,713 4.368.499 The note shows the Statement of Financial Artivitje5. Split by fvnd. for the year ended 31 Au8USt 2023. Page 26
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO ThE FINANCIAL STATEMEfiTS- contlnued FOR THE YEAR ENOED 31 AUGUST 2024 13 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- COIITINUED (PARENT) Unrestricted fvnds Restrictèd funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activlttes Educational serv¥ces 34,532 218,418 252.950 3,583,650 3.583.650 Other trading activities Investment income 145,751 3.161 145,751 3.161 60,000 Other income Total 3.827.094 218,418 4,045.512 EXPENDITURE ON Raising funds 84.271 9.661 93,932 Charttable a¢tl¥ltles Educational services 3.796.104 136.724 3,932,828 Total 3.880,375 146.385 4,026,760 NET INCOME Transfer betweén ft•nds othèr rècognlsed gainsl{lossesl Actuarial 8ains on defined benefit Nèt movémènt in fvnds 153,2811 84,225 72.033 184.2251 18.752 596.C(Kl 626.944 596.000 614.752 112.1921 RECONCILIATION OF FUNDS Total fvnds brought lorward Total funds brought forward TOTAL FUNDS CARRIED FORWARO 3.257.906 3.884.850 87.837 75.645 3,345.743 3.960,495 The note shows the Statement of Financial Attivities. split by fund. for the year ended 31 August 2023. Page 27
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 14 TANGIBLE FIXED ASSETS. Improvements to Freehold Long leèsehold Group Plant and machinery Group Property Group proTty Group Totals Group Totals Parent COST At I September 2023 Additions 915.350 367.268 2.347.621 882,467 1,442.928 31,317 5.073.167 913.784 5.015.215 908.207 At 31 Au8U5t 2024 915.350 367.268 3,230.088 1.474.245 5.986.951 5.923,423 DEPRECIATION At I September 2023 Charge for year 24.898 2,806 618.592 57.525 1.244.841 64.590 1.888,331 124.921 1,884,863 120,598 At 31 August 2024 27.704 676.117 1.309,431 2,013.252 2,005.461 NET800KVALUE At 31 August 2024 915.350 339.564 2.553.971 164.814 3,973.699 3,917,%2 At 31 August 2023 915.350 342.370 1.729.029 198.087 3.184,836 3,130.352 IS SUBSIDUARY UNDERTAKING The parent company's investments at the balance sheet date are.. St Catherine's Speech and Lan8uage for Youn8 Adwlts and Adwlts Limlted Company registration number.. 12675770 Charity registration nurnber.. 288148 (Linked wilh St Catherine's- Speoth and Lan8uagel Re8r5tered office.. Grove Road. Ventnor. Isle of Wh1. P038 1 Nature of charity.. Prowsion of education seryi Limited by guarantee.. Sole Corporate Member 2024 2023 Aggregate funds Surplus for the year 541,631 133.627 408,004 171.035 2024 2023 Oonations 30.332 1.154.078 1.184.410 Charitable activities.. Education seryices Toial In¢om¢ 1.066.277 1.066.277 Expendlture Charitable activities= Education seNices 1.050.783 133.627 895,242 171.035 Net income Page 28
ST CATHERINE'5- SPEECH AND LANGUAGE 14OTESTOTHE FINANCIAL sfATEMEMTS- witlnued FOR THE YEAR ENDED 31 AUGusf 2024 16 DEBTOR5.. AMOUNTS FALUNG DUE wmiii4 014E YEAR Group Parent Group Parent 2024 2024 2023 2023 Trade debtors 1,429,316 922,625 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 Amounts owed by participatin8 interests Othef debtors Atcrued income Prepayment5 5.202 2,471 46,391 1,483,380 5,202 2.471 43.102 973.400 Of the £1,429.316 of trade debtors. the charity has received £1.407.355 between the balance Sheet date and the date that the Trustees, report ha5 been approved. The trade debtors value also includes fees invoiced in advance of £1.405,273 and these fees are also included in accrued income as they relate to the period of 31 Au8USt 2025. 17 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Parent Group 2023 Parent 2024 2023 8ank loan5 and overdrafts Isee note 181 Hire purchase Isee note 251 Trade crèditors 21.903 5.378 160,708 67. 74.252 21.903 5.378 156,284 57.577 74.252 253,808 940.S71 20,733 5.378 227.394 52,602 61.108 20,733 5.378 216.218 52.177 61.108 Social security and other taxe5 Other crèditors Amounts owed by participating interems Accruals and dèferred incorne 1,441.807 1.771.708 1.509.773 1.442,2S5 1.010,868 1.809.470 1.366.482 18 aiEWORS: AMOUNTS FALUNG DUE OVER ONE YEAR Group 2024 317.928 11.204 329.132 Parent Group 2023 Parent 2023 2024 317.928 11.204 329,132 Bank loans Hire purchase lsee note 25) 340.183 16.580 356,763 340,183 16,580 356,763 An analysi5 of the maturity of loans is 8iven befow= Group 2024 Parent 2024 Group 2023 Parent 2023 Bank loans 339,831 339,831 360.916 360.916 The bank loan is 5ecure(l on freehold property and is repayable by installments ovèr 180 months at an fixed interest rate of 4.08% for the first 84 months. Page 29
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR EIIDED 31 AUGUST 2024 18 CREDITORS.. AMOUNTS FALUNG DUE OVER ONE YEAR An analysis of the maturity of loans is given below: 2024 2023 Amounts fallin8 due within one year on demand= Bank Loans 21.903 20.733 Amounts falling between one and years= Bank loans- 1-2 year5 22,808 21,889 Amounts falling due between two and five years= Bank loans- 2-5 years 74.239 71,245 Amounts falling due in More than five years.. Bank loans more 5 yr by installments 220,881 247,049 19 MOVEMEMT IN FUNDS Nei Transfers rnovement between At At 1.9.23 in funds funds 31.8.24 Unrestrlcted lunds General fund Fixed Asset Fund Including Revaluation Reserve 746,377 362.011 1867,7731 240.615 2.747.477 599,CKXI 2.(xI 4,292.854 1120.5971 208,000 951.250 3.578.130 807,)0 200.000 4,825.745 Pension Scheme Surplus Repairs fvnd 449.414 83.477 Restrlcted funds Restricted Fund 75.645 120.888 183.4771 113.056 TOTAL FUNDS (GROUP) 4.368.499 570.302 4.938.801 TOTAL FUNDS {PARENn 3.960.495 436.675 4.397.170 The transfer of É951.2XI between 8eneral funds and frxed a55et fund is to account for the new additions in the period less depreciation movements_ The transfer from festricted funds represents funds promded to purchase fixed assets which are used for general charitable purposes. The transfer of £83.477 represents restricted incorne which has been used to purchase fixed assets for unrestricted use. Page 30
5T CATHERINfs- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL sTATEMEPs- continued FOR THE YEAR ENDED 31 AUGUST 2024 19 MOVEMENT IN FUNOS- continued Net movement in funds, included in the above are as follows= Incomin8 resources Resources Gains and Movement expended losse5 in funds Vnre5trirted lunds General fund 5.450.365 15.088,3541 362,011 Fixed Asset Fund Induding Revaluation Reserve Pension scheme doficit 1120.5971 1120.5971 208,IY)O 449.414 208,orJ) 208.000 5.450.365 15.208.951) Restricted funds Restricted Fund 335,854 1214.9661 5.786.219 15,423,917) 120.888 570.302 TOTAL FUNDS 208,LI)O Comparatives for movement in funds Nei Transfers between fund5 movement At At 1.9.22 in funds 31.8.23 Unrestrfcted funds General fund Fixed Asset Fund Including Revaluation Reserve Pension Scheme Deficit Repairs fund 648.424 248.810 1150.8571 746.377 2,643.452 1131,0571 s96.0 235.082 2.747,477 599,000 200,000 4,292,854 21X).LNJ) 3.494.876 713.753 84,225 Restrfrted funds Restricted Fund 87.837 3.582.713 72.033 785.786 184,2251 75,645 4.368.499 TOTAL FUNDS IGROUPI TOTAL FUNDS {PAREIffj 3.345.743 614.752 3.960.495 Page 31
ST CATHERINE'S- SPEECH ANO LANGUAGE NOTES TO THE FINANOAL STATEMENTS- continued FOR THE YEAR ENDÉD 31 AUGUST 2024 19 MOVEMENT IN FUNOS- continued Comparatbve net movernent in funds. induded in the above are as follows= Incoming resourtes Resources Gains and expended losses Movement in funds Unrestricted funds General fund Fixed Asset Fund Including Revaluation Reserve Pension Scheme Deficit 4.731,372 14,482,562) 248,810 1131.0571 1131.0571 596.000 596,000 596.000 713,753 4,731.372 14.613,6191 Re5trkted tunds Restricted Fund 218.418 1146,3851 72,033 TOTAL FUNDS 4,949.790 14.760.004) 596,000 785.786 A current year 12 months and prior year 12 months combined positpJn is as follow5= Net Transfers between fund5 movement At At 1.9.22 in fvnds 31.8.24 Unrestficled funds General fund Fixed Asset Fund Includin8 Revaluation Reserve Pension Scheme r)efi¢it Repairs fund 648,424 610.821 11,018.6301 240.615 2.643,452 1251,6541 3.orNJ 804,IKK) 200.C 3.494.876 1.186.332 3,578.130 807.0 200,0Tr) 4.825.745 1.163.167 167,702 Restrkned lunds Restricted Fund TOTAL FUNDS (GROUP) 87.837 3 S82 713 192.921 1167.7021 113.056 4 938 801 TOTAL FUNDS IPARENn 3 345 743 1051427 4 397 170 Page 32
STCATHERINfs- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENTS- conl•nued FOR THE YEAR ÉNDED 31 AUGusf 2024 19 MOVEMENT IPJ FUNDS. continued A current yèar 12 rnonihs and prior year 12 months combined net movement in funds. included in the above are as follows.. Incomin8 resources Resources Gain5 and expended losses Movement in funds Unrestricted funds General fund Fixed Asset Fund Including Revaluation Reserve Pension Schème Deficit 10.181.737 19.570,9161 610.821 1251,6541 1251,6541 804,LIJO 1,163.167 804.TrJO 804.fy)0 10,181,737 19.822,5701 Aestrfcted fynds Restricted Fund TOTAL FUNDS 554.272 1361.3511 10 736 c&YJ 110.183.9211 192,921 1 356 088 804.000 Details of the funds are as follows.. Designated Funds Fixed A55et fund includin8 revaluation reserve The trustees have decide(I to show reser¥e5 rdatin8 io red assets separately to free reserves. Pension The pènsion scheme defitit fund repreSts thè proieded valuè of the pensron stheme assets less liabilities. Repairs The trustees have allocated £2CQ.CXs from cash funds held io hold for major repairs and irnprovemenis that have been identified. Re5trided Education This fund represents moneys paid to the school by the EFA to be spent on the development and continuation of services for vulnerable 16-19 vear old& Department for Education pupil premium This fund represents moneys paid to the school by DFE Ma local authorilies to be spent on improving ihe academic perlormance of disadvantaRed students. Education This fund represents moneys paid to the sthool by the EFA to be spent on improvements, rnaintenan and capital repairs D buildinRS and other facilities. There are Several minor restritted funds which at the year end totalling £37,662 which are due to be Spent in the next ac¢ountinR Deriod. Page 33
ST CATHERINÉ'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED YI AUGUST 2024 20 EMPLOYEE BENEFIT OBUGATIONS The Charity contributes to the Isle of Wight Counol Pension fvnd. This is a separately funded stheme under whith the Isle of Wighi Council has set up a separate pension fund. The school is permitted to participate in the scheme under the tem)5 of an 'administr3tion agrÈement' for non teaching empIty. This is a defined benefrt schemè in the UK. A full attuarial valuation was carried out as ai 31 August 2024 by a qualified independent actuary. Thelsle of Wight Council establishes the rates of contribution frjr both emplgyees and employers participatin8 in the scherne. The ernployer is also required to pay an additional £60,0Tr) per year in monthly instalments. Details of the scheme are as follow5= The amounts recognised in the Balance Sheet a as follows.. Defined benefit pensign plans 2024 2023 Present value of funded obli8ations Fair value of plan assets 12,143.0001 12,073.crf)01 2,950,(( 2,672.LX)O 807.000 599,OC Present value of unlunded obligations Surplus 807.CKK) 599.[ Nei asset Pa8e 34
ST CATHERINE'S- SPEECH AND LANGUAGE NOTES TO THE FINANCIALSTATEMENTS- ttIrnd FOR THE YEAR ENDED 31 AUGLIST 2024 20 EMPLOYEE 8ENEFITOBUGATIONS- continued The amounts reco8nised in the Stalement of Financial Artivities are as follows: 2024 2023 Cuirent service c05t 35.0 I84.0)) 66,CQ) 62,CK Net interest frorn net defined benefit assevliability Past service cost 149.lJ)01 128,( Actual return on plan assets 191.oc 45.COJ hanges in the present value of the defined benefrt obli8atM)n are as follow5= Defined benefit pension plans 2024 2023 OpeninB definÈd benefit obligation Current service cost 2.073,OCrfJ 35.[ 107.LK 1S.CK I127.1) 2.S44.OC 66.LKJO 107.000 14.WO 1119,0001 Interest cost Employee contribution5 Benefits paid Actuarial18ainslllosse5 from changes in finan¢i31 assumptions 40.rK 2.143,(KKS 1539,0001 2,073.000 Changes in the fair value of scheme assets are as follows.. Defined bÈnefit pension plan5 2024 2023 Opening fair value of scheme a$5ets Contributions by employer Interest received 2.6?2, 2,547,000 77.000 108.000 45.OLXI 14,C(N) 1119.Q)01 2,672,000 139.( 191.(J Expected return Ernployee tontributions Benefits paid 1127,CMY)I 2.950,IX Page 35
ST CATHERINE'S- SPEECH ANO LANGUAGE NOTES TO THE FINAfdciAL 5fATEMENTS- contwwed FOR THE YEAR ENDED 31 AUGUST 2024 20 EMPLOYEE 8ENEFIT OBLIGATIONS- continued The amounts recognised in other recognised gains and losses are as follows= 2024 2023 Actuarial Igainsl/losses from changes in financial assumptions I40.OCl 140.OLKI 539,000 539.000 The major cate8ories of scheme assets as è percentage of total s¢heme asseis are as follows= Defined benefil pension plans 2024 2023 Equities Bonds Property Cash 7296 72% 16% 16% loo% Principal actuarial assumptions at the Balance Sheet d8te {expre55ed as wetsghted avèra8esl- 2024 2023 Olscount rate 4.9S% 5.25% 4.05% Future salary increa5e5 Future pension inueases 3.6S% 2.65% 3.05% Defw*d contribution stheme The Charity contribtJte5 10 two other separate stsff pension schemes for eligible employees who also rnake a contribution. Detai15 of these schemes are set out below= Teachers, Peftsion Scheme This is a contributory scheme run by Teacher5, Pensions. The benÈfits of the schème are governed by the Teachers, Pension Regulations 1997. The scheme automatically covers full time teachers who have not opted out of the scheme to make their own pension arrangements. Members of the scheme pay at varying rate5 ran8in8 from 7.4% to 11.7% of their salary," the School pays a contribution of 16.48% of the member's salary. Teachers, tontributions are on a 'pay as you go. basis and thè sthool's contributions arè Credited to the Exchequer undèr airangements covered by the Superannuation Art 1972. The Teachers, Pension Regulations require an annual attount, the Teachèrs. Pension Atcount, to bè kept of receipts and expenditure. Any exces5 of income over expenditure is deemed to be invested in government securities and notional interest 15 added to the account- the resultant balan is known as the'notional fund.. Page 36
ST CATHERINE'S- SPEECH AIID LANGUAGE NOTES TO THE FINANCIAL STATEMEPUS- rontinutd FOR THE YEAR ENDED 31 AUGUST 2024 20 EMPiOYEE BENEFIT 08LIGATIONS- conlinued Scottlsh Equltable Group Personal PeftsSon 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 char8e for the year represents the cost of employer's contributions to the scheme for the year for those employees optin8 to join thè scheme. Contributions are made by both employee and employer based mainly on a percerhtage of the employee's salary. The employer's contribution is beTh¥een 1% and 4%. 21 CAPITAi COMMITMEP4TS 2024 2023 Contracted but not prowded for in the financial staiemen 355,586 The 2023 commitment relate5 to works on property improvements started before the year end. 22 RELATED PARTY DISCLOSURES Durin8 the year, the Charity ieceNed income of £nil12023 £nill Irom the TnJstees under normal operatin8 conditions. During the year the parent charity has charged rent and management charges to the subsidiary for the value of £102,C(Q12023.. £102.(OJl and £51.C(Q12023.. £60.() respeuively. At thè year end the subsidiary was owed by the parent £253,80812023-. £487.331- owed to the parent) which is lent on an inteièst free basis. 23 SU85101ARY UNDERTAKINGS The charity has a subsidiary, bel St Catherine's - Speech and Language for Young Adults and Adults Ltd. which is linked by a uniting direction under 596 of the Charities Act 2C436 and thè re5ult% of the linked charity have been aggregated with the reportin8 charity following best piactice as laid down in the Statement of Recommènded PractIce"Accnt1nE And Reportin8 By Charities" ISORP 20191 issued in October 2019. 24 ULTIMATE CONTrOLUNG PARTY The charity was under the control of the trustees throu8hout the year. 2S LEASING AGRÉEMENTS IGROUP AND PARENTI Minimum lease payments under hire purchase fall due as follow5- 2024 2023 Net obligations repayable Within one year Between one and five years 5.378 11.204 16.582 5,378 11,204 16,582 Page 37