LEWESTON SHERBORNE Leweston School Trust (A Charitable Company Limited by GuarantO0) Annual Report and Flnanclal Slatements For the Year Ended 31 July 2024 Company Number: 02041443 (England and Wales) Charity Registered in England and Wales Number: 295175
Leweston School Trust Contents For Ihe Year Ended 31 July 2024 Chairman's Rep(wt Reference arrfl Administrative Details Report of the Govemors (including Statem8nt of Govemors. Responsibilities) IrKlependent Auditor's Report on the Financial Siaiements 16 Consolidated Stalemenl of Financial ActNilies 20 Balance Sheet and Consolldated Balance Sheet 21 Consolidated Cashflow Statement Notes to Financial Stalements 23 Produced by Aibert Goodman LLP
Leweston School Trust Chairman's Report For the Year EThJed 31 July 2024 The Governors of Leweslon School are pkased to present their report for 202&24 Tho Sch¢)ol Leweslon is a thriving school wth a rich history, providing outstsrKling education to chiklren from 3 months to 18 years of age. We offer an enwronment where children feel comfortable and confident. providing Ihem with multitude of different opportunities. encouraging them to try new eXperIenS and achieve more than they thought possible. We embrace all aspects of sthool life as a famity. we are more than a community. This collective approach to school life is key and we share hb3h stsndards in our pursuit of academic and personal excellence. Strong relationships, between pupils. staff and parents, is central. Our parents want a school that works as hard as them lo educate their children. What makes us distinct5ve? Leweston's values of community. opportunity and expertise are the bedrock of our school. We create a positive atmosphere where pupils can express themselves. We are principled l)ut relaxed, open with a lack of pretension. We have an unparalleled dedication to the indNidual and offer a modern and transformative education to boys and girls from a range of different backgrounds and with many different interests and personalities; we are a school where there are set pathways. Whilst we recognise that many schools say the same of their institutions. we know from our recent parents, survey that our families see this in practice. As one parent said 'Leweston has an atrnosphere of genuine warmlh and is a down to earth community. A lot of other sd01$ put this in their brochures but they are just words al the end of the day. Leweston has a genuine sense of kindness and approathability,. The Future Since 2017 Leweston School has doubled in size. Our fiexible range of day. flexi. weekly and full tM)arding options, combinèd with a commiiment lo rwnain relevant to the needs of the families that choose us, is reflected in this growth in numbers. Whilst we are mindful of the challenges ihat may face the independent school sector, Leweston continues to be ambitious. The school opened the Leweston Chedington Riding Academy in November 2024 and completed the replacement of the all-w8ather ItCh. Whilst our numbers remain buoyant we are ¢lose to rea¢hing ¢apacily and the school is lookirg to invest in new classrM5 and boarding faalities to aGGommodate ntInued demand. None of this woukl be sSible, of coutse, withCl the incornparab dedication of our advisors, supporters, staff body. and the vigorous support of our parenl community. Mr lan L&g Chaif ol Governots Produced by Abert Goodman LLP
Leweston School Trust Chairman's Report For the Year Ended 31 Juty 2024 Governors Mr lan LaS." (elected 24 June 20201 Chair of Govemors Mr Dermot McKechnie' [ected 12 June 2018) Mr Graham Best". (elected 24 April 2023) Ms Valerie Simmons De Fontsnals. (elected 4 December 2019) Mr Mark Brunel£ohen (elected 7 June 2023) Mrs Rebecca Peacock (elected 16 September 2020) Prof8ssor Anthony Meehan. {eEecled 11 May 2021) Mr Simon GenwoOd (elected 11 May 2021) Lieutenant G8neral Sir James Dutton'181ecled 1 July 2022 Mr Paul Felbeck. (elected 22nd June 2022) Mrs Janet Schofiekl." (elected 22nd June 2022) Finance & General Purposes ComnNttee ' Education Commillee Clerk to the Govemors Claire Worsley Officers Head: John Paget-Tomlinson BA Hs, MA {Lond(x)), MSC, MRes (London). PGCE Head of Preparatory School: Richard Thompson BA Hons. PGCE Dir8Ctor of Business Strategy and Operations-. ClaK8 Worsley MA Hons (Oxon) Reglstered Office Leweslon School Sherbome Dorset DT9 6EN Company Number. 02041443 Aud5tor Albert Goodman LLP Goodwood House Blackbrook Business Park Taunton TA12PX Bank Natwest PIC 2 Hendford Yeovil Somerset BA20 1TN Produced by Albert Goodman LLP
Leweston School Trust Chaimian's Report For the Year Ended 31 July 2024 Sollcltors Wilsons Alexandra House St Johns Street Salisbury SP12SB Insurance Brokers Marsh Ltd Education Practice Capital House 1- 5 Perymount Road Havryards Health West Sussex RH16 3SY Investment Advlsers Investec Wèatth arKJ Investrnent Limited 2 Gresham Street London EC2V 7QN School Webslte www.leweston.co.uk Produced by Aibert Goodman LLP
Leweston School Trust Report of the Govemors (including statement of veMors, spOnsibl11118s) For the Year Ended 31 July 2024 The Governors, who are also the Mernbs and directors of the Charity for the purposes of the Companies Act. present their report and the audited consolmlated financial statements for the year ended 31 July 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Documents The governing documents of the Trust are the Memorandum and Articles of Association. The Articles of Association were last amended in March 2014, reduciTr3 both the minimum number of governors required on the Board and the qUOTum, and also making dngeS lo the number and appointment of the Foundation Governors. Govaming Body The Govemors ar8 required under the Articles to sep4e as Difectors arNJ Members of the Trust which is company limited by guarantee and a registered charity. The Govemors are divided into hvo categories,. a Governor who is appointed by the Roman Catholic Bishop of Plymouth and &)vernors appointed through the nomial system. The Articles require thal 50% of Govemors are of the Catholic faith. Govemors serve a temi of three years and are eligible to stsnd for reryelection for a further two terms or longer in exceptional circumstances. Governors are responsible for the g0Veman of both the Senior and Preparatory Schools. The Goveming Body aims to comply with the Charity Govemance Ccrfje for larger charities issued by the Charity Govemance Code Steering group. Govornor Recruftment and Tralnlng Govemors are appointed who provide a balan of personal competents, specialist expertise and experience relevanl to the running of an independent Catholic school. New appointrnenls are selected to fill identifiable gaps in the Board's existing thlls and to meet the needs of good govemance. Induction is organised by the Bursar in order to familiarise new Govemors with tKsth SCoIs and their statutory responSi.11t1eS and obligab"ons. They are provided with 'Guidelines for Govemors,, a manual of 9)od practTr¢e for the governors ol independent schoots and encouraged to attend seminars on good govemance run by the Asso¢ialion of Goveming Bodies of Independent Schools {AGBIS). Each year Govemors are infomed of training Courses run by the School's accountants. solicitors, AGBIS and other organisations. to keep them updated on revant changes to Charity and their own responsibilities. In addition. in accordan wlh best practice, the School has undertaken a full review of its governance, facilitated by an external consultant and is acting on the recommendations. Organigational Management The Governors meet as a Board three times a year to detemiine the general policy of the Trust and review its overall management and control for which they are legally responsible. The work of scrutinising the Trust's policies and performan is carried out by the Finan and General PurFK)ses Committee {F&GPC), which meets five times a year. and the Education Committee, which meets termly. Specific Governors have additional responsibilities for Boarding and Pastoral Care, Child Protection and Enterprises and participate in the deliberations of the School's officers in these areas, reporting to the full Board directty, or via the committees which meet at least three times a year and often more frequently. The day to day running of the School is delegated to the Heads supp)rted by the Senior Leadership Teams. The Heads and the Director of Business Strategy and Operations also meet for a weeY business meeting during tem) time and attend the Board and all committee meetings. Produced by Albert Goodman LLP
Leweston School Trust Report of the Governors (including statement of Govemors, reS[lsibIlities) For the Year Ended 31 July 2024 STRA TEGIC REPOR T Rlsk Managémént The Board of Govemors is responsible for tha management of risk. A detailed Risk Management Plan is prepared by the Director of Business Strategy and Oparalions and broken down into risks which are owned by the various committees. or Ihe Board itseff. The rbsks are reviewed Iwice a temi by the Finance and General Purposes Committee and termly by the Eduration Committee and submitted to the Board for approval. Key strategic areas that are addressed indude the academic standards. market position. long term financial stability and continued invèstment in the Trust's resources and facilities. Key controls used by the School indude". Strategic planning. budgeting and management accounting: Established organisational structure lin8s of reporting Govemor representation; Comprehensive written policies.. Compliance with the procedures for the safeguarding of thildren and other regulatory requirements., Formal ageTrJa and minutes for Board. Committee and Senlor Management meetings. The Govemors are satisfied that the Trust has established resour VIeW of systems which, under nonnal conditions. would allow those risks to be mitvJated to an acceptable and reasonable level. OUR MISSION To provide a well-rounded and relevant education to boys and girls focused on th8 individual learner, instilling an independence, resilience and willingness to try which provides pupils with the COnfence to meet the challenges of the wider worhj. To build a community of courtesy, respe¢l and affection that has al its heart prayer and service to others. SCHOOL AIMS To give pupils an experience of life in a Christian communty: By affirming each individual as a sacred and unique parl of God's Grealion. and nurturing in each person a sense of dignity and self-worth By valuing diversity and apprecialing the contribution that every pupil makes lo the life of the School To provide the highest quality of teaching and leaming, which is reswnsive to and supporlive of the needs and aspirations of the individual.. By fostering intellectual curiosity. a desire to seek truth. and a lif&long love of learning By 8nabling pupils to discover their own strengths and weaknesses. to leam from Yailures,, and to develop the detennination to persevere. in order to pursue their goals By supporting all pupils in their pursuit of academic and personal exllence and ensuring every pupll can take part in the School curriculum To provide a prcoramme of sport and outdoor leaming accessible to all which supports and enhance5 pupils, personal development arul a&3demic achievements. To forge relalionships of trusl arKI mutual respect beiw88n staff and students which contribute to the success of pupils in all aspects of School life. Produced by Albert Goodman LLP
Leweston School Trust Report of the Governors (including stalement of Govemrs, reswnsibilities) For the Year Ended 31 July 2024 To inspire pupils to develop Iheir God-given gifts and be happy with who they are. STRATEGIC PLAN 2022-2027 Our ambition is to provide every pupil with the best possible opportunity lo leam and grow h8lpirwJ them lo achieve more than they thought possible. Our ambition is aspirational and provides the driver for all that we do. It encapsulates our belief in what makes LeStOn special. To make our vision reality. we will be working towards five core strategic goals based on th8 school values Community - to create a family community of shared aspirations and values which engenders a strong sense of belonging for panIs. pupls and staff alike. Opportunlty - to provide the wdest range of opportunity to our pupils. FKeparing them take their place In the world. Expertise - to demonstrate the depth and breadth of experien in all aspects of the Leweston offering and the impact this has on our pupils. Identfty - to develop and mmUniCate a strong sense of aThJ what we stand for. A¢countability- to maintain the highest stsTrJards in educalion and do so with integrity. effective laad8rship and effi¢ien¢y. Thè strategic plan is available in full on the sch¢1 website. INVESTMENT During the finanaal year 2023124 Ihe School has invesled £375,000 in capital expanditure. Development projects have inclLKled-. Purchase of adjacent Woodland The Leweston Chedington Riding Academy Complete rasurfacing and upgrade to the All-weather pitch Further Work to the driveway and car parks New computers as well as more interadive srAeens for teaching dassrooms Networking improvements General repairs and Health and Safety improvements New maintenance equipmenl PUBLIC BENEFIT Leweston School is a charitable trust vthich seeks to beneffl the public Ihrough the pursurt of its slated aims. As an important part of its function, the school audits on an ongoing basis the public benefit it prOve$. For further infomiation visit.. htt s:IIvnNW. h 1st th8r.o s&studiesTrschoolld=94742 The School educates 600 children and standard of education are judged by the Independent Schools Inspectorate and OFSTED to be of a high standard. The inspection reports of b)th t¥)dies provide evidence of this and are freely available. By eduGaling these children in the private sector the School saves the public purse a seven-figure sum by way of indirect publi¢ benefi1= The School's fees are less than many similar schwls in the region. Produced by Abert Goodman LLP
Leweston School Trust Report of the Govemors (includiw statement of Govem(Ks' responsibiliti8s) For the Year Ended 31 July 2024 The School provMJ8s access to children from less affluent backgrounds by way of scholarships and means-tesled bursary awards. The School is responsible for maintaining the histori¢ buildings and gardens. The School has an a¢liv8 charitable giving programme which ratses thousands of pounds for charities in UK and abroad. The School opens a wide variety of its faalities to the local community and has strong links with business and charity groups in the surrounding area. The School offers subsidised weekly Forest School and Aqualots for parent aThJ toddler groups. The School welcomes maintained seclor schools onsite for events and to use the sports facilities. PENTATHLON ACADEMY As one of only nine Pentathlon Training Hubs in the UK the Schcol makes a signrficant contribution to the Pentathlon GB Pathway and is one of the cornerstones of the GB Squad. The Hub caters for athletes of all abilities and any pupil in the School can join. Leweston's highly expariencad GB coach, Mick Flaherty, organises and delivers dedicated training and mentoring programmes tailored to individual needs and abilities. The School also has its own Pentslhlon Club whith is open to the local ¢ommunity. Th8 Club is a member of Pentathlon GB and Triathlon England arKI is primarily aimed at chiklren and young adults from 6 to 19 years old who are inter8St8d in combining the sports of M¢xlem Pentathlon and Triathlon. The club aims to provide general fitness through multi-discipline Iraining and events and provides the opportunity for èveryone to have a go. Al levels are catered for. frcrfn ¢ompbet& novic8s lo those Competi nationally and internalionally, as part of Team GB. More Infmation is available on the Sthool's websit8. ACCESS The Govemrs operate a Scholarship and Bursaries Policy. details of which are published on the School's website. This is designed to enable access to the School for talented pupils who would benefit from an education at Leweston. SGholarships recognise academic exllen, music, sport. art. drama and equestrian achievement and potential and may be supplemented with mèans-tasted bursaries with the objective of trying to ensure that those children who would best benefit from a Leweston aducation are able to do so. Once a child has entered the School. and whether or not they have a scholarship, th8 School may provide means-lested bursaries if a pupil's continuing education becomes al risk Ihrough financial hardship. A limited number of bursaries available on enty to Leweston in SeS Whe pu.IS do not meet the requirements for a scholarship. In the year to 31 July 2024 the total value of scholarships and bursaries was £1.421,231 and 288 pupils benefiled in some way from awards. The School continues to give support to its pupils and to facililate open access in many other ways. These include the provisicin of a Leaming Support Department in both the Senior and Prep Schools which support pupils wilh individual needs. predominantly dyslexia. Leweslon prides itself on an educational exp8rienc8 that realises every Child's potentkal b8 it in the classroom. sports field, concert hall or studio. EDUCATIONAL PERFORMANCE Key Slage One 930/0 of Leweston pupils reached expected or above in English wtth 31 % exceeding the expected level. 92 % of Leweston pupils ached expected or above in Maths with 15 % exceeding the expected level. 100¥0 of pupils ached Ihe expected level or alx)ve in Science.
Leweston School Trust Report of the Governors (induding statement of Govemors. resp)nsibilities) For the Year Ended 31 July 2024 Key Stage Two 79°/o of Leweston pupils reached at least the expected level across all areas of the curriculum versus 61 % nationally 74 % of Leweston pupils reached at least the expected level in English versus (Reading 74%). (Writing 720/0) nationally. 8°/0 of Leweston pupils exceeded the expected level in English. 85 % of Leweston pupils reached al least the expected level in Maths versus 73Yo nationally. 230/0 of Leweslon pupils exceeded the expected level in Maths. 85 % of Leweston pupils reached at least the expecled level in Science versus 810/0 nationally. GCSE The GCSE results received in 2024 Vre for the eighth year running impressively higher than those seen nationally, with the lop grades (7 to 9) remainirvJ Iw1 the national average. Whilst the pass rale across England, Wales and Northern Ireland was 67.6%, at Leweston close to 1% of all entries were awardèd Grades 9 to 4. Over a quarter of all grades re¢eived were 8s and 9s. with just under half in the 7 to 9 bracket {equivalent to A"_A). Once again there were some impressive individual results. 11 pupils gained an outstanding 59 grade 9s. 34 grade 8$ and 25 grade 7s between them with one pupil achieving 10 grade 9s. 1 grade 8 and 1 grade 7 alone. Over two thirds of all grades in History. Compuler Scien¢8. Chinese. Fine Art, Music, Geography and German were grade 9 to 7 whilst in Further Maths. Latin and Texliles over half of all grades 9 to 7. More information about the School's GCSE re5uIt5 is available on the Sct¥)ol w8bsite.
Leweston School Trust Report of the Govemors (induding ststement of G)ve[rS. responsibilitTr8s) For the Year Ended 31 July 2024 A Level In 2024 over a third of all students gained at least one A" or A grade and seven pupils received a very impressive 12 A"s and 8 As between them. Once again. the sludents undertaking the Extended Project Qualification (Epa) achieved fantastic results with 75% A" to A grades. The Creative Arts have had an outstanding set of results, across Music, Drama. Fine Art, Textiles and Photography pupils gained 12 A. and A grades and 92% of all results were A" to B. As a Tesult. one student won a place to study PerfoMan. Design and Practice at Central St Martins wth another tsking up a sthlarship to study at the Royal School of Music. Across cohort students will be leavsng to lake up places at the Universty of Cambrhjge, the London School of Economics, Exeter. Cardiff. Sheffield. Manchester, Birmingham, University College London. Reading, Birmingham arKI the Royal Agricultural College on courses induding Biomedical Science. General Engineering, Economics, Music, Philosophy. Liberal Arts and Games Technology. We have also seen an incr8as8 in applications to more vocational courses with students leaving lo read Criminology with Policing, Sports Coaching, Agricultural Business Management. and Consumer Behaviour and Marketing. In addition to this. one student has been accepted into the Walsh School of Foreign Service at Georgetown University in Washington DC lo read International Economics alongside joining a D1 athletics programme to run Track on a comprehensive athticS stholarship. To see the 2024 de5tinalions in full visit the Sch(x)I website. ACHIEVEMENTS AND PERFORMANCE Leweston was sh¢)rtlisted for Independenl School of the Year for Student Careers and Independent Prep School of the Year in the Independent School of the Year Awards 2024. Year 12 students attended a Particle Masterdass at Swansea Universty to learn about antimatter. laser cooling, and how to find the Higgs Boson. A Year 11 pupil achi8V8d the South West Best in RegM)n certificate for the UKMT (United Kingdom Mathematics Trust) Maclaurin Olympiad 2024. Dr Geoff Smith MBE, Chair of the UK Malhs Trust, wrote to congratulate her on an exceptional achievement. In the Junior UKMT Mathematics Challenge the pupils achieved a total of 16 Bronze, 12 Silver. and 1 Gold award. A Year 11 pupil was one of the ten winners of the Simon Powell Poetry Prize. a national competition organised by'Poelry LI.. The prize came with the invitstion to read the poem in front of hundreds of GCSE students at a 'Poelry Liv8, event aTrJ attend a writing workshop hosted by the acclaimed poets, Daljit Nagra and Imtiaz Dharker, at the Barbican. London. A Year 8 pupil also reached the finals of the ISA Poetry compets'tion. Year 8 pupils achieved 22 Bronze, 15 Silver and 16 Gold Leweston Leamer Diploma awards. Pupils entered the U14 Mixed Dorset Schools Touch Rugby Competition fof the first time. qualrfwng for the Touch 2 Twickenham Finals Day. Sixth Fom) stjentS participated at the final event as referees. Pupils from Years 7 to 9 participated in the sclK)ol's first Cficket Tour. Staff and pupils lebrated multiple victories in the Sh8rborne County Fair Dragon Boat Races claiming the Bronze medal in the Senior tegory and Gold and Silver for the wpils. This is an annual event which is much enjoyed by the school comrnunity and raises money for local charities. Produced by Albert Goodman LLP 10
Leweston School Trust Report of the Governors (includiro statement of Govemors. responsibilities) For the Year Ended 31 July 2024 Pupils competed in the North Dorset School's Swimming Gala tsking Year 7 Gold. Year 8 Gold. Year 9 Bronze and Y8ar 10 Silver medals. wlh an overall Silver. One Prep S pupil won the IAPS 50m Breaststroke Gold. One Year 8 pupil qualified for the Dorset County Swmming champicsh1ps. 6 Leweston athletes became national rnedallists at the ISA National Athletics Championships in Birmingham. One Prep 6 pupil claimed discuss Gokl at the National Prep School AlhletiGs Championships with another taking Silver in the shot put. The U13 Boys became Division Two Dorset Tennis Champions. The U13 Boys cofflpeted at the ISA Hockey Championships reaching the final and finishing as ISA National U13 Boys Hockey Silver Medallists. The U14 Girls. Hockey Team were crowned Dorset County Champions at the Dorset County fber 2 Tournament. Their perfomiance earned them a place in the highly competitiv8 South West Regional ChampK)nships. Th8 U15 Girls, Netball team placed 3rd in the North t)orset Schools, Netball Toumament and qualified for the Dorset County Tournament. Pupils from Years 10 to 12 travelled to Malaysia to parlicipate in a Netball tour playing several games again$1 local schools. The U11 crew represented L8weston Prep at the IAPS National Sailing Regatta, the first competitive regatta for our pupils. Prep 6 completed RYA courses at RocWey Watersporls in Poole. Most studants completed the Stage 1 course at Poole Park. while four students (inclLKling one from Prep S) successfully finished the Stage 2 course. completing it with 100% success. A further group of more experienced sailors tackled the intermediate 'Start Racing, rurSe at Rockley Point achving their certification preparing for the Dorset Primary Schools Regatta. Prep 5 pupils partscipated in the tsvo-day IntrOdtOry RYA Stage 1 course at Rocklels Poole Park. Seven sailors travelled to Poole to participate in the 'Dorset Primary School Games Sailing Regatta. achieving a joint third place overall. 10 students represented Great Britain at the European Biathle. Trialhle. and Laser Run Championships in Madeira. The GB team topped the medal table in all three competitions. One Leweston athlete {Prep 6) was crowned European Champion in the U13 Biathle. and Laser Run and won Gold in the mixed Triathle arKI Laser Run relays, team Gold in &athle and Silver in the Triathle and Laser run. A Year 11 athlete took U17 Bronze in the Triathle and team Gold in the Triathle aThJ Laser Run. A Prep 4 athl8t8 achieved U11 team Gold in Triathle and Silver in the Laser Run girls relay and a Prep 4 pupils took U11 Silver in the Laser Run boys. relay. 6 students from Leweston Prep and Senior School travelled lo Bali to Competè in the World Biathle and Triathle.In the U11 girls, one athlete finished Ihe Trialhle with GB team Silver and in the U17 category another took individual Bronze and team Silver. In the Bk2thle the U17 boys formed part of th6 GB Silver t8am. Leweston alhlet8S took part in the Otympic Hopes Modern Pentathlon event in Poland as part of a GB squad. One athlete won th8 U17 8V8nt. an arnan9 achievement in an intemational Competition which sets him on the path to the Los Angeles Olympics in 2028. 42 athletes from Prep 3 to Year 13 competed in the Natvjnal Schools Biathle with two National Champions in Prep 6 and Year 10.Al the South West Laser Run Leweston won 4 Gold. 5 Silver and 6 Bronze medals in individual events and 5 Gold arKI 2 Silver medals in team competitK)ns. Leweston's Intemiediate Team were wwned NaIal Champions at the National Schools, Shooting Championships, for the third year in a row. three athletes finished with Gokl. Six fencing students qualified for the regional leam for the National Epee Championships in Sheffld. Produced by Ajbert Goodman LLP
Leweston School Trust Report of the Govemors {induding stalement of Govemors. responsibilities) For the Year Ended 31 July 2024 Four tearns from Leweslon Prep took part in Ihe Restless Development Schools Triathlon at Bryanston School. The Prep 4 boys secured Ihe 2nd tM)silM)n being the Top Fundraisers. During the Spring Term, Leweston made history hosting the UK'S first Penlathlon with innovative Obstacle Course RaeAng (OCR) format. 13 riders attended the NSEA National Championships Eventers Challenge and National Inter-county SJ and Dressage Championships al Hickstead achieving them most impressive results in years in¢luding 4 National Champion tstles and 16 qualified indivKluals. Pupils took six team victories al the NSEA Grass Roots and Regional Points League Show jumping Competition. At the Dorset County Show Jumping Championships the show jumping team swept the board winning all the individual and team tilles. Leweslon riders went to the Moreton EC NSEA Dressage County Qualifiers for Dorsel and also taking part in the Eventers Challenge Qualifier happeniTrJ in the adjacent arena. We two teams qualrfied to present Dorset at the prestigious National County Dressage Championships. At NSEA Hickstead Leweston ri(lers became Nalb)nal County Show Jumping Champions in the Intermediate 190-95cm). These National Championships are the always competitive and only qualified teams arKI Individuals can compete. Leweston has won a Team National Title for thr& years running and by taking so many top eight placings, it was the school's best results at Hi¢kstead. One rider retained her Nalional Open SJ title and another won the National Hate Prelim litle in the NSEA National Schools Champvjnships at Addington. Senior pupils perfomied Les Miserables lo a pad(ed theatre for three nTrghts and the KS3 pupils performed Chrislmas Pantomine Cinderella. Two students and the Director of Music travelled to Rovinj. Croatia to atteThJ the highly anli¢ipaled European Douzelage Annual General Meeling representing the UK a5 delegates al the Youth Meeting. Members of Schola Cantorum perfomwd in Destination Opera's production of Mozart's Idomeneo in Sherborne Abbey with two instrumentalists playing in the orch8stra alongside professional musicians. Members of Leweston Choral SoGiely. Schola Cantorum. arKI guests joined a workshop on Matthew Coleridge's R8quiem. led by the Composer himself before performing th8 Pl8ce in full. Michael Partingion. worfd-renowned classical guitarist. wnducted a maslerdass for some of our talented guitar students. Two Sixth Form musicians aChVed ABRSM Diplomas with one reaching the ISA Young Musician Final. 6 leams completed Ihe Duke of Edinburgh Silver Award. Thre8 pupils altend8d the Gold Duk8 of Edinburgh Awards at Buckingham Palace. The Leweston team the 45 mile Ten Tors thallenge across Dartmoor. Year 13 raisad £6,398 for the Rainbow Childn.$ TrusL As part of our innovative Sixth Fonn LEaD {Leweston Enrichmenl and Developmenl) programme. Year 12 and 13 were givan the opportunity to work with Ihe London Inlerdisciplinary School. A group of pupils from Years 11 to 13 travelled to Nepal lo visit our sister School. Jana Jyoti. Leweston was shortlisted for the 'Best Use of Aud, Category in the SdKJol Stories Awards 2024 for the Leweston V¢ices Podcast and won the Access Project Award for our Peer Mentoring 'Buddy' System. Lewèston welcomed Sir Matthew Pinsent. Lord Mark Sedwill and George Stiles to speak as part of our Leweston Lecture programme. GOING CONCERN The financial statements have been prepared on the going concem basis whith assumes that the School will continue in operational existen for 12 months from the date of approval of these financial statements. Produced by Abert Goodman LLP 12
Leweston School Trust Report of the Governors (induding statement of Govemors. responsibilities) For the Year Ended 31 July 2024 At the balance sheet date, the Sdwl had net current Irabilities of £2,719,256 (inclusive of £250,000 of short- temi loans). Creditors falling due in more than year include othar loans due to the Funding Group of £3.865,253. The Govemors have prepared projected cash flow ft)reGasts for the period to July 2026 which show that the School is expected to have SLrffi¢ienl available cash for 12 monlhs from the dale of approval of these finanal statements wilh the continued support of an existing funder and the School securing third party funding which the Govemors expect to have finalised before tt)e commencement of the 2025 Autumn temi. Achieving the forecast cash ftows is reliant upon maintaining existing pupil numbers. on-going funding and third party funding being in plarR, athieving target numbers in future years and on-going cost efficiencies. Although they recognise that inherently there can be no certainty in relation lo these matters. the Governors are confident that the Sch¢xJI will meet these targels and remain within its projected cash flow forecast. Following the VAT changes announced by Ihe Govemment in 2024. th8 Govamors ara considering options including th8 most appropriale legal struclure for the School which may have an impact on which legal entity the School Irades through. This is not expected to impact the education provTrded by the School but may result in changes to the group in the future which has not bèen concluded on at the date of approving these financial statements. On this basis th8 Govemors hav8 conduded Ihat the ScTrKol is a going ¢oncem. The financial statements do not include any adjustments that would result from the SchTr)I nol being able to meet its liabililies as they fall due. FINANCIAL REVIEW AND RESULTS FOR THE YEAR The School recorded an operating deficil of £486.900 (2023 surplus.. £30.277). Since Juty 2023 the School has maintained ils numbers at 615 which is near capaaty. With the growth in pupil numbers the position of the School moving forward is positive. The pupil mix continues to evolve providing new income streams from a more diverse range of pupil types. The School, and the industry generally. is facing significant cost increases in relation to many of the goods and SeiceS it purchases, including, for example. energy costs and food. This is on top of the changes to legislation and the imposition of VAT and removal of charitable business rates relief. Against this backdrop, the Governors made the decision to increase fees slighuy ahead of current inflation, combined with several cost saving measures that maintain staffing levels. pupil experience and parent engagement but raduca some ancillary elements that do nol contribute tr) the overall product. Freehold land and bulldlngs The School continues to invest in the land buildings whilst mindful of our Grade 1 and 2 Listings. Anclllary and Tradlng Income The Trust has a wholly-owned subsidiary, Leweston Enterprises Limited (°Leweston Enterprises.), which prowdes leisure and letting facilities to Ihe pupils and staff of Leweston Schcrf)l. to the local community and to the general public. ReseNes Pollcy The School holds reservgs both restricted and unrestricted and an endowment fund. The School's policy is that unr8Strict8d reserv8s should not be accumulated from year to year. unles5 for a Specif capital project., Produced by Albert Goodman LLP 13
Leweston School Trust Report of the Govemors (including statement of Govemors. responsibilities) For the Year Ended 31 July 2024 any surplus generated is invested in developing the buildings and resourc8s of the ScfM)ol. The Twst's unrestricted funds are a result of the revaluation of the larKI arKI buiklings al the year-end. Romuneralion Poliey The Governing Body lakes into consideration Ihe recommerKlations of the F&GPC when agreeing annual budgets for staff remuneration. Academic stsff salaries are reviewed annually in the light of nationa5 awards to take effect from Isl September. Support Staff are reviewed annually looking at govemment changes and market rates for specific roles. ACCOUNTING AND REPORTING RESPONSIBIUTIES Statement of Govemors. responsibililies The Governors Ivtho are directors of the Leweston Schts)l Trust for the purposes of company law) are responsible for preparing the Report of the Governors and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. indling Financial Reporting Standard 102. the Financial Reporting Standard applKalk in Ihe UK and the RepubliG of Ireland (United Kingdom Generally Accepted Accounting Practice). Company law requi the Govermrs to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable Company and the group and of the incoming resources and application of resources. induding the in¢ome and expenditure of the charitable group for that period. In preparing these financial statements. the Govemors are required to.. Select suitsble accounting FX)licies and then apply them consislenuy" Observe the methods and principles in the Charities SORP" Make judgements and accountirvJ estimates thal are reasonable and prudent,. Slate whether appliGable UK Accounting StaThJard have been follow8d, subject to any material departures disclosed and explained in the financial ststements, and Prepare the finanoal statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The Govemors are responsible for keepirKJ ad8quate accounting reccfds that disclose with reasonable accuracy at any time the finanoal position of the charitsble rnmpany and 8nabl@ them to ensure that Ihe financial statements comply with the Companies Act 2006. They ar8 also responsible for safeguarding the assets of the charitable company and the group and hen for taking reasonable steps for th8 prevention and detection of fraud and other irregularities. The Govemors are responsible for the maintenance artd integrity of the corporate and financial infomiation included on the charitsble cornpany's website. Legislation in the United Kingdom governing the preparation and disseminalion of financial stalements may differ from legislation in other jurisdictions. PrCed by Albert Goodman LLP 14
Lewaston School Trust Report of the Governors linduding statement of &)Npmots' responsibilities) For Ihe Year Ended 31 July 2024 Statement as lo dls¢losure to our audlt4)rs In so far as the Govemofs are aware al the lime ol approvmg our Govunors. annual report.. Theie is M relevant infomation, berw inforniation needed by the auditor in conTrecknon with preparing their report of whKh the group's audilor is 8vraTe,. and The Governors have each taken all steps that w 0jh1 to have tak to make themselves awaie of any relevant audit informatx)n aThJ to eStabh Ihat the ajItOr is aware of Ihe N)formation AUDITOR The audrtors, Albert Goodman LLP, are deemed to be reappourted urKler seGbon 48712> of the Companies Act 20C6. Si9nad on behalt ofthe Governors on ........ . . Chair of vernors". Mr lan Luca5 Company secret.. Miss Clair sley Produced by Albert Goodman LLP 15
Leweston School Trust Independent Auditor's RepiNt on thè Financial Statements For the Year Ended 31 July 2024 Oplnlon We have audited the financial statements of the Leweston SchoL4 Trust for the Year Ended 31 July 2024, which comprise the consolidated Statement of Financial ActNilies, the consolidated and parent charitable cornpany 8alance Sheets. the consolidated Statement of Cash Flows, and Notes to the Financial Statements. including a summary of signthcant accounting wlicies. The financial reporting framework Ihat has been applied in their preparation is apph'cable law arKI Untted Kingdom Generally Accepted Accounting Practice. including Financial Reporting Standard 102: The Financial Reporting Stsndard applicable in the UK and Republic of Ireland (Uniled Kingdom Genwally A¢pted Accountir¥J Practice). In our oplnion the financial statemenis: give a true and fair view of the state of ihe group's and the parent charitable company's affairs as al 31 July 2024, and of the group's incoming resources arKJ appIation of reSoUrs. including its income and expenditure, for the year then ended. hav8 been prOpeY prepared in accordancè th United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance the requirements Ihe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Slandards on Auditing (UK) (ISAS {UK>I and applicable law. Our responsibilities under those standards we further described in the Audilorfs responsibilities for the audit of the financial statements section of our report. We ar8 independent of the group and parent charitable company in acc(Kdance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Etrmcal Standard. and we have fulfilled our other ethical responsibilities in accc*dance with these requirements. We believe that the audTI evidence we have obtained is suffiaenl and appropriate to wowde a basis for our opinn. Malarial uncertalnty relating to going concern We draw your attention to nots 1.2 of the financaal statements which indicates that the School's ability to continue as a gcHng concern is dependent on the Schcd cotaining third party funding and remaining wilhin the projected cash flow forecasls. As ststed in note 1.2. these coThJitions indicate that a material uncertainty 8XiSts that may cast doubt on the School's ability to continue as a going conrn. Our opinion is not modified in respect ol this matter. Produced by Alberl Goodman LLP 16
Le¥st0 School Trust Independent Auditor's Report on the Financial Statements For the Year Ended 31 July 2024 Other inforniation The GoverrK)rs are responsible for the other infnatIOn. The other 1nftyMatn comprises the infomiation included in the Governors, Report, other than the finanaal statemenls and our auditorfs report thereon. Our opinion on the financial statements does not cover the other inf0Mli0n and. except to the extent otherwis8 explicitly slated in our report, we do not express any form ol aSSUrar conclusion Ihereon. In connection with our audit of the finan(?al ststemenls. our re¥)onsitMIty ts to read the other informatvjn and. in doing so, consider vthether the other information is materially incA)nsistenl with the financial statements or our knowledge obtained in the audit or othepwise appears lo be materially misststed. If we identify such material inconsistencies or apparent material misstatements, we are required tr) detemiine whether there is material misstatement in the financial Statnents or a material misslatemenl of the other infomiation. If. based on the work we have performed. we conclude that there is a material misstalem8nl of this other infomation, we are required to report that fact. We have nothing to rewl in this regard. Opinlon on other fflattèrs prascrlbod by tho Companles Act 2006 In ¢wr opini¢)n, based on the work underlaken in the course of Ihe audit.. the infomation given in the Report of the Govern5. vthKh indudes the Directors. Report pr8par8d for the Purposes of company law for the financial year for which the financial statements are prepared is consistenl with the financial statements.. and the Directors. Report induded within the Report of lh8 Govemors have been ppared in accordance th applicable legal requirements. Matters on which are roqulred to report by exception In the light of the knowkdge and understanding of the group and parent Chilable company and their environment obtained in the course of the audit, we have fK)t identified material rnisslalements in the Directors, Report included wilhin the Rewl of the Govemors. We have nothing to rert in resped of following mallers in relalion to which the Companies Act 2(6 requires us to report to you rf. in our opinK)n= adequate accounting records have not been kept by the parent charitable company. or relums adequate for our audit have nol been reiVed from branches not visited by us: or the parent company financial statements are not in agreement wtlh the accounting rec(ffds and returns; or certain disclosures of Govemors. remuneration spe0r by law are not made.. or we have not received all the infwnation and expkinations we require for audit. R•sponslbllltles of Governors As explained more fulty in the Statement of Govem¢ys' Respjnsibihlies. the Governors {who are also the directors of the parent charitsble company for the purp)ses of company law) are resFonsible for the preparation of the financial statements and for being satisf*d that they give a true and fair view. aThl for such internal Control as the Govemors determin8 Is necessary to enable the preparation of finanaal statements that are free from material misstatemenl, whether due to fraud (x error. In preparing the finanual statements. the GoverrN)rs are reswnsible assessing ihe group and parent charitable cornpany's abilty to continue as a going concem. disclosing. as applicable. mallers related to going concèrn and using Ihe going concem basis of accounting unless the Governors either intend to liquidate the parent charitable company or to cease operations. or have rn realistic alternalive bLtt to do so. Produced by Albert Goodrnan LLP 17
Leweston School Trust Independent Auditorfs Report on the Financial Statements For the Year Ended 31 Juty 2024 Auditor's rèsponsibilitiès for the audit of thè financlal slatornonts Our otyectives are to obtain reasonable assurarKe ab)ut whether the financial statements as a vthole are free from material misstatement, v4hether due to fraud or error. and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee Ihat an audit conducl8d in accordance with ISAS (UK) viill ahyays detecl a material misslatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be exFeded to influence the eccfflomic decision5 of user5 taken on the basis of these financial stalemenls. A further description of our responsibilities the audfi of the financial statements is IcKated on the Financial Reporting Counul's website at .fr¢.j.UklaUditOrSresP0Slb1llt1es. This description fomis part of our Report of Independent Auditors. The extent to which the audit was considored capable of dotectlng Irragularltiés Included fraud Our approach to identifying and assessing ihe risks of material misslatement in respect of irregularities. including fraud and ncn-compliance with laws and rewlations. was as follows.. the engagemenl partner ensured thal the eThJagement team collectively had the appropriale competence, capabilities and skills to identsfy or recogntse non•O)mpliance with applicable laws and gulalions; we identified the laws and regulatnS applicabl8 to the group and parent charitablè company through discussions with Govem¢ys and other management. aTrd from our commercial knowledge and experience of the sector: We focLJsed on specific laws and regulatiS whth we considered may have a direct material effecl on the financial statements or the operations of the ccmpany, including the Companies Act 2006, taxation legislation, data protection, anti-trxibery. empk)yment. Charity Act 2011 aryl heallh and safety legislation.. we assessed the exlent of MplIance with the laws and reguLqlions identified above through making enquiries of management and inspeding *al rresPondenCe.. and idèntified laws and regulations were comMunated wilhin the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the group and parent chariiable company's financial statemants to material misstatement. including obtaining an underStandg of how fraud Mh1 ¢)ccur. by: making enquiries of management as lo where they considered there was suscEptibility to fraud, their knowledge of actual. suspected and alleged fraud. and considering the intemal controls in place to mitigate risks of fraud and rK)n-compliance with laws and regulations. To address the risk of fraud Ihrough management lyas and override of controls. we.. perfomied analytical predureS to identty any unusual unexpected relationships,. tested journal entries lo identify unusual transactions- assessed whether judgements and assumpts'ons made in det8mining the accounting estimates w8re indicative of potential as- and Investjated the rationale behind signfftant or unusual transactions. In response lo Ihe risk of irregularities and nonryccrfnp1lan with laws and regulations. we designed procedures which included. but were not limited lo: agreeing financial statement disclosures to underfwng supporting documentation.. reading the minutes of meetings of those charged wth governan., enquiring of managemenl as to actual arKI potential liligation and claims: and Proded by Albert Go¢>Jman LLP
L$tOn School Trust Independent Auditof s Report on the Financial Statements For the Year Ended 31 Juty 2024 reviewing correspondence viith HMRC. reVant regulators incknjing the Health and Safety ExetIVe, and the companYs legal advisors. There are inherent Itmltations in our audit kyocedures described above. The more r8moved Ihat laws and regulations are from financial transactions, the less likety it is that we would become aware of non- compliance. Auditing stsndards also lim5t the alIt procedures required to identify non<ompliance wth laws regulations to enquiry of the dweCtO arhj olher management and the inspectTron of regulatory and legal correspondence, if any, Material misstatements that arise due to fral can be hardeT to dett than Ihose that arise from error as they may involve deliberate concealment or Cy)Ilusn. A further description of our responsibilities Ihe audit of Ihe financral statements is located on the Financial Reporting Council's website at vw.frc.0r .uk1aIlorss 'bilities. This description fomis part of our auditor's report. Use of our report This report is made solety to the group and parent charitable company's members, as a body, in accordanc6 wlth Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so that we might state to the group and parent charitable company's membeTS and iknernors those matters we are required to state to them in an auditorfs rep)rt and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsitrflty to anyone other than the group and parent charitable company and Ihe group and parent charitable company's members as a body and the parent charitable companys Governors asa ody, for our audit work, for trms rew)rt, or for Ihe opinions we havo formed Joseph t)oggrell Bsc {Honsl FCA {Senior Slatutory Auditor) for and on behalf of Albert Goodman LLP. Statutory AltOr Goodwood Hous8 Blackbrook Business Pa Taunton TA12PX Date: 24 Produced by Abert Goodman LLP
Leweston School Trust- Company Reglstration Numbor. 02041443 Consolidaled Statement of Financial Activities (l[UdIng income and expenditure account) As at 31 July 2024 Un- restricted R•stri¢ted dowmont fund$ fund Totsl 2024 Total 2023 Notes Income: Donations and gifts Charitable adivities School fees arKI exlras Investment income Other inc( 1d 593,707 593.707 150.967 la 1b 8,972,075 6.499 363,tKI7 8,972,075 8.460,123 6.499 363.007 423,640 9.935.288 9,037,170 Tolal Income 9.935.288 Expendltur8'. Costs of raising funds Trading expenses Marketing costs Charitable activities School operating costs 422,940 65,606 328.870 108,422 328,870 108.422 9.954.715 9.954.715 8,504,339 10.392,IXI7 8,992.885 Total expenditure 10.392.007 Net In¢omo1{expenditure) for the yoar before transfers ar gains and losses Transfers between funds 44,285 (456.719) (456,719) 14 (456,719) (456.719) 44.285 Net Incomellexpendlturel and net movement In funds for the year Raconcillatlon of funds Total funds brwght forward Tolal funds ¢arrfed forward 1,419,177 210 500,000 1,919.387 1,875,102 962.458 210 500,000 1.462.668 1,919,387 The stateMt of financial activities has been prepared on the basis that all operation5 are continuing operations. There were no gains or losses arisiThJ in the year that are not shown at)ove. The statement of financial adivities in¢orporates thè incc¥ne and expenditure account. 20 Produce(I by Albert GLY)dman LLP
Leweston School Trust- Company Reglstration Number: 02041443 ConsolKlated Stslemenl of Financial Activities (1jUdIThj income and expenditure atwunt) As at 31 July 2024 2024 2023 Notes Group Charity Group Chartty FIx8d assets Tangible fixed assets Intangible assets Investment in subsidiary 8.047.177 7.986.755 7,954,147 7,884.376 8,047,177 7,986.756 7,954,147 7.884,377 Current assets Stod( Debtors Cash al bank and in harrtl 10 11 107,889 2.226.485 1.062,555 40.463 2.650.871 951.126 120,757 2.357,386 457,231 47,576 2,773,441 411,461 3,396.929 3.642.460 2.935,374 3,232.478 Liabllitiès: Creditors falling due wlhin one year 12 {6,116,185) (6,036.979) 15.074.118) 15.006.954) Net current liabilities (2.719,256) (2.394.519) (2.138.744) 11.774.476) Creditors., amounts fallir¥J due in more than one year 13 (3.865.253) (3.865.253) (3,896.016) (3,896.016) Tolal net assets 1.462.668 1,726.984 1,919,387 2,213.885 The funds of the charity: Restricted funds Unrestricted funds Revaluation reserve Endowment fund 14 14 14 14 210 (715,3021 1.677.760 500.000 210 (450,9861 1,677,760 5CK),O 210 1287.831) 1,707.008 500,000 210 6.667 1.707.008 500,000 Total charity funds 1,462.668 1.726,984 1.919.387 2.213.885 The Governors have prepared groLP acLounts in a¢an with section 399 of the Companies Act 2006 and Secti 138 of the Charities Act 2011. These ountS constitute the annual account5 required by the Corry)anies Act 20C6 and are arculati1 to members of the chwitable coMpy. The noles from pages 22- 38 form part of these accounis. Appr by: d authorised for issue by the Board of Govemors on ... .. . . .. and signed on their behalf Chair ofGo rs.. Mr lan Lucas Pr0Ced by hjbert &dman LLP 21
Leweston School Trust Consolidated Cashflow Statement For Ihe Year Ended 31 July 2024 Tolal 2024 Tolal 2023 Notes Group Group Cash flows frorn 0ratIng actlvitles Net movements in funds for the year (Profitllloss on disposal of langible fixed assets Depreciation Interest CeiVable Interest payable (456.7191 44,285 (31,829) 249.936 (2.440) 191.748 286.125 16.499) 311.071 1b Working capital adjustments Decreasel{increasel in stocks Decreasel{increase} in Irade debtors (Decreaseyincrease in trade creditors 10 12.868 130,901 892,067 38.411 {112,019) 410.368 12 Net cash flow from operalions 1,169,814 788,460 Cash flows from Investlng actlvltl•s Interest recewable Payments to acquire tangible fixed assets 1b 6.499 (379.155) 2,440 1369,250) Nel cash {oufflowYinfl¢wi from investing activit (372.6561 1366.810) Cash fiows from finan¢lng activities Interest paid Loans rèpayments {91.8341 {100.0001 {64.240) (130.000) Nel cash (ouffiow)finlk)w from financing activities (191,834) (194.240) Net increasel{decrease) in cash arKI cash equivalents 605,324 227,410 Cash and cash equivalents at the beginning of Ihe [thIng period 457,231 229,821 Cash and cash equivalents at the end of the reting period 1.062.555 457,231 Consisting of.. Cash at bank and in hand 1.062,555 457.231 1,062,555 457,231 Produced by Albert G(*)dman LLP 22
Lewoston School Trust Notes to the Financial Statements For the Year Ended 31 July 2024 Accounting Pollclas The principal accounting policies adopted in the preparation of th8 financral ststernents are as follows". Basls of accounting The finanGial statements have been ppared in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Th8 charitable company and its subsidiaries are a public benefit group for the purposes of FRS 102 and therefore the School also prepared its finanoal statements in accordan with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP). the Companies Act 20C6 and the Charities Act 2011. The financial statements are prepared in sterling. whith is the functional currency of the School. Monetary amounts in these financial slatements are rounded to the nearest pound. Going concem The financial statements have teen prepared on the going conrn basis whith assumes that the School will continue in operational existence for 12 months from the date of approval of these financial statements. At the balance sheet date, the School had nèt current liabilities of £2.719,256 {indusiv8 of £250,000 of short-temi loans). Creditors falling due in more than year include other loans du8 to th8 Funding Group of £3.865.253. The Govemors have prepared Fxoiected cash flow forecasts foT the period to July 2026 which show that the School is expected to have sufficient available cash for 12 months from the date of approval of these financial statements with the continued supwrt of an existing funder and the School securing third party funding 1¢h the Goverrbys 8xp8Ct to have finalised before the commencement of the 2025 Autumn temi. Achieving the forecast cash flows is reliant upon maintainirvJ existing pupil numbers, oTrgoing funding and third party funding being in place. achievir¥J tsrget numbers in futur8 years and on-going ¢o$t efficiencies. Although they re¢ognis8 thal inherently there can be no rtainlY in reLgtion to these matters, the Governors a confident thal the Schwl will meèt Ihese targets arKI remair) within its projected cash flow forecast. Following the VAT changes announced by the Government in 2024. the Govemors are nSIdering oplions including the rnost appyopriate legal structure for the School which may have an impact on which legal entity the School trades through. This is not expected to impact the education provided by the School but may result in changes to the group in the fulure which has not been concluded on at the date of approvirwJ these financial statements. On this basis the Governors hav8 conduded that the School is a going concem. The financial statements do not include any adjustm8nts that would result from the School not being able lo meel its liabilities as Ihey fall due. Basis of consolidation The Trust's subsidiary began trading on 1 July 2010. These group financial statements consolKlale on a line by line basis the financial statements of the School and its subsidiary undertakings made up to 31 July 2024. As permitted by S408 of the Companies Act 20Cfj. the parent charitable company's income and expenditure account has not been included in these financial statements. The parent haritabl8 company's deficit for the year was £486.900 (2023 surplus: £30.277). Produced by Albert GcwAman LLP 23
Leweston School Trust Noles to the Financial Statements For the Year Ended 31 July 2024 1.4 Cornpany limited by guarantse The company is limited by guarantee, the guarantors at the present tirne being the Governors, to the extent of £1 each. Fees rocoivable and similar inc¢mo Fees receivable and tharges for s8fvbC8S and use of premises are accounted for in the period in which the Servi is provided. Fees receivable are staled after deducting allowanc8s, scholarships and other reMiSsn$ granted by the school. Donations and fund aOUntIng Donations received for general purpos8s of the schcx)l are induded as rèstricted funds. Donations restricted by the wishes of the donor or the terms of an appeal aTr taken to restricted funds. Donations required to be retained as capital in accordance with the donors wishes are accounted for as endovmients - peThanent or èxpendable according to the natwe of the restriction. Expenditure Expenditure is allocated to expense headings. which aggregate all cosls ralaling to the category either on a dired cost basis. or apporlioned according to time spent. Th8 irrecoverable element of VAT is induded with tha item of expense to whith il relales. All costs associated with Ihe yovision of education are alk)caled to Charitable Expenditure. Only the costs directly associated Mth. or incurred solely in, Raising Funds are allocated to this category. For exarnple, thè costs of kitchen and domestic staff who are employed on a short term basis during the school holidays are allocated to the Cost of Raising Funds whereas th8 Costs of the pemianent staff are alloc2led to Charitable Expenditure because they would have to be paid in any event. Likewise, only premises costs that are incurred because of, or to support, the letting activities are allocated to the Costs of Raising Funds. Supplies of games equipment. bwks. ststionery and sundry materials are written off when the expenditure is incurred. Governance costs comprise the costs of wnning the Trust. including strategic planning for its future development. extemal audit, arKI all other costs of complying with constitutional and statutory requirements. Leases and hlro purchase contracts Where assels are financed by finance leases and hire purchase agreements the assets are included in the Balance Sheet al cost less dewecialion in accordan with the school's normal a¢untIng policy. The present value of future rentals is sh¢)wn as a liability. The interest element of rental obligations is charged to the Statement of Finanrial Activities over tt)e period of thè lease in proportion lo the balance of capital payments outstanding. Rentals paid under operating leases are charged to the Statement of Financial Activities evenly over the period of the lease. Produced by Abert Goodman LLP 24
Lewe5ton School Trust Notes lo the Financial Stalaments For the Year Ended 31 July 2024 1.9 Tanglble fixed assets and depreciatlon All fixed assets ar8 used in direct furtherance of tha school's objectives. Fixed assets are included in these finanLial statements at their original cost less depreciation provided to date. Assets that are expect&J to have a useful econom lrfe of less than two years andlor cost less than £250 are not capilalised aj are written off in Ihe year of purchase. Depreciation is provided on all tangible fixed assets. other than freehold land, al rates calculated to write off the costs18ss estimated residual Vall of each asset, by equal annual inslalments. over their expected useful lives which are consKlered lo be: Freehold land Freehold buildings and improvements Plant and machinery Fixtures and fittings Vehicles Computers All weather pitch Not depreciated 50 years 10 years 10 years 5 years 3 years 15 years 1.10 Intanglble flxed assets and amortisatlon All fixed assets are used in direct furlherano of Ihè school's objectives. Fixed assets are included in these financial statements at their orTrginal a)st less amortisation provided to date. Amortisation is provided on all intangible fixed assets at rates calculated to write off the costs less estimated residual value of each asset, by equal annual instalments, over their expected useful lives vthich are considered to be: Soare 3 years 1.11 Stock Stocks are stated at the lower of cost and net realisable value. 1.12 Investrnents Investments are valued in Ihe balance sheet al Ih8ir mid-market value at the b8lan¢e sheet date. Investment management costs are accoun18d for as incidental costs of the acquisition or disposal where transaction-based, while inveslmenl income manag8ment costs are charged as expenditure out of the relevant income funds. 1.13 Cash and cash equivalerrts Cash and cash equivalents indude cash in hand. deposits held at call with banks. other short-tami liquid investments with original maturities of Ihree months or less. 1.14 Flnanc5al instrurnents The charitsble company has elected to apply the provtsions of Section 11 'Basic Financial Inslruments. of FRS 102 to all of its finan¢rdl instmments. Financial instruments are recognised in the charitable companys balance sheet when the charitable company b8comes party lo the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in Ihe financial statements, when there is a legally enforceable right to set off the recognised amounts and Ihere is an intention to settle on a net basts or to realise the asset and settle the liability simultaneously. With the exPIlon$ of prepayments and deferred income all other debtor and creditor balances are consNJered to be ba financial instrumenls under FRS 102. See notes 11, 12 13 for the debtor aNJ creditor notes. Produced by Albert Gwdman LLP 25
Laweston School Trust Notes lo the Financial Statements For the Year Ended 31 July 2024 1.15 Employoo benefrts The ¢osts of short-lerni employee benefrts a recognised as a liability and an expense. 1.16 Penslons Full-time and part4ime teaching staff employed UWKler a contract of service are eligible to contribute to the Teachers. Pension Stheme (TPS) or the Royal London Pension Scheme. The TPS. a statutory, contributory. final salary scheme is administered by Capila Teachers. Pensions on behalf of the Department for Education and Skills. For the TPS scheme. the costs indude normal and supplementary contit)utions. The regular cost is the normal contribution, expressed as a percentsg8 of salary of a teacher newly entering seTViCe, which would defray the cost of benefits payable in respect of Ihat seNice. Variations from the regular Pension cost a mel by a supplementary Contributn. This occurs rf, as a resull of the actuarial investigation, it is found that the accumulated liabillS for b8nefits lo past and present teachers are not fully covered by normal contributions lo ba paid in the future and by the fund built up from past contributions. The nomial and supplementary contributions are charged to the income and expenditure account in the year f¢y bolh pension schemes. The school also pays contributions into a Group Personal Pension Scheme for Support staff. The Scheme is a defined o)nlribution pension scheme. The assets of the Scheme are held separately from those of the School in an independently administered fund. The Pension Scheme charge represents contributions payable by Ihe school in accordance with the fuS of the Sdrne. 1.17 Taxation As a registered charty, th8 tharitable company is not liable to corporation tax or capital gains tax to the extent that ils income and gains are applscable to charitsble purposes only. Value Added Tax is not recoverable by the company. and is therefore included in the relevanl Costs in thè Statement of Financial Actiwties. The charity subsidiary is able to reo)ver Value Added Tax and therefore it is not included within th8 relevant costs in the StateAnent of Financial Actiwties. 1.18 Key estimatgs and judgements In preparing financial statements it is necessary to make ckrtain judgements, eslimales and assumptions thal affect the amounts recognised in the financial statements. Tha following judgements and éstimates are considered by the Governors to have most signifiont effect on amounts re¢cgnised in the financial statements. (i) Useful Economic Lives - The annual deprec?ation charge for property. plant equipment is sensitive to change in the estimated useful eC0MiC lives and rasidual value of assets. These are ssessed annually and amended were necessary lo refiect current Circumstan$. Produced by Albert Goodman LLP 26
Leweston School Twst Notes lo the Financial Ststements For Ihe Year Ended 31 July 2024 la Fees receivable and Incoming resources The School's activities are carried out within the UK. The School's fees comprised.. 2024 2023 Gross fees Less: Total bursaries. grants and allowances 10.002.720 9.409,771 (1.421,231) (1.269,017) 8,581.489 390.586 8.140,754 319.369 Extras and disbursements 8,972,075 8,460,123 1b Investment Income 2024 2023 Interest receivable 6.499 6,499 2,440 1c oth•r Inc¢xne Unres- tricted tricted Total 2024 Unres. trid•d Res- trlcted Total 2023 Rent and lettings Other trading inGorne Other income 64.801 272.209 25.997 64,801 272.209 25.997 81.545 339,548 2.547 81,545 339,548 2,547 363,CQ7 363,007 423,640 423.640 1d Donations and gifts Unres- trlcted Total 2024 Unres- tricted Res- trictsd Total 2023 tricted Income donations a1 gifts 593.707 593,707 150,967 150,967 593.707 5g3,707 150.%7 150.967 Produced by Albert Goodman LLP 27
Leweston School Trust Notes to the FinanGial Staternenls For the Year Ended 31 July 2024 Total expenditure Depreclalion and Other amortisation Total 2024 Stsff Costs Cost of raising funds Trading expensès Marketing costs 93.409 221.942 108.422 330,364 13.519 328,870 108,422 437,292 93.409 13,519 CkBritable activities Teaching costs Welfare Premises Support costs of schooling (2a) Govemance costs (2b) Loss on disposal of shares 4.632,121 163.596 242,143 956,522 178.501 1,364.469 946.880 1.151.567 45,889 4,795.717 1,198,665 1,815,997 2,098,447 45,889 273.027 5.999.645 6.093,054 3.682,043 4,012.407 273,027 9,954,715 286.546 10,392,007 Staff costs Other Deprecialion 2023 Cost of raising funds Trading expenses Marketing costs 146.618 260,097 65,606 16,255 422.940 65,6C 146.618 325.703 16,255 488,546 Charitable activities Teaching costs Welfare Premises Support costs of schooling (2a) Governan Gosts (2b) Loss on disposal of shares 4,156.121 223.793 158,888 824.533 112,213 827,403 1.205.613 737.986 13,582 1,018 2.897,815 3.223.518 4,268.334 1.051,196 1,607,690 1,562,519 13,582 1,018 8,504,339 8.992,885 243.189 5.363,335 5,509,953 243.189 259.444 Produced by Albert Gc#)Yman LLP 28
Leweston School Trust Notes lo the Financial Statemenls For the Yèar Ended 31 July 2024 Support costs of schooling 2024 2023 Slaff training and recwttment Marketing activities Marketing - commission Central costs Legal and professional Audit Fees Accountancy Fees Finance costs 69,747 244,819 71.321 320,371 88,401 15,0 30,142 356,908 24,997 162,153 46,348 230,183 38,178 12.000 236.127 1.196.709 749.986 2b Governance costs 2024 2023 Audit and accountancy fees Governors expenses 45,142 747 12,000 1,582 45.889 13,582 Produced by Albert Goodman LLP
Leweston School Trust Notes to the Financial Statements For the Year Ended 31 July 2024 Staff c(vJts Employment costs 2024 2023 Wages and salaries Social security costs Pension costs 5.100,644 409,748 582,662 4,628,974 392.146 488.833 6,093.054 5,509.953 Number of ernployoe8 The average monthly number of employ88s during the was: 2024 2023 Educational staff Support staff Nursery staff 106 116 62 24 202 202 The number of employees 7•those annual emoluments were £60,OCrf) or more were.. 2024 number 2023 number £60.C(J1 - £70,000 £80.C(J1- £90,000 £93.001 - £100,OIJJ £100.000+ Produced by Albert Goodman LLP 30
Leweston School Trust Notes lo the Financial Statements For the Year Ended 31 July 2024 Net Incomel(expenditure) for th• y•ar This is slated after Gharging.. 2024 2023 Net income is slated afler charging.. Depreciation of tangible fixed assets- owned Operating lease rentals - other Auditors remuneration - Audilorfs remuneration - AL5dit ServIS for the subswjiary - Non-audit seNS 286,125 31.540 249,936 31,864 15,000 2,500 10,630 2,000 Governors diroctors The Govemors were not paid or received any other benefits from employment with the school or its subsidiary in the year (2023 - £nil). No GoVerrr received payment fty professional or other seNices supplied to the Leweston School Trust (2023 - £nil). The Leweston School Trust has paid for directors and offirS indemnity insurance. Defined contribution ponsion s¢h•m• The charitsble company operates a defined contribulion pension schem8. The pension cost charge for the year represents contribuli¢)ns payable by the ¢harttable company to th8 scheme. Contributions totalling £53,423 (2023 £40.659) were payab to Ihe scheme at th8 end of the year and are included within the taxation and social security credstor. Leweston School Trust considers that the key management Personnel comprise the governors and the Senior Leadership Team who are the Head, Bursar. Deputy Academic Head, Deputy Head Pastoral, Director of Marketing. Director of Boarding, arKI Head of Prep. Th8 total employ88 b8nefrts including pension costs of the key management personnel of th8 group were £668.994 (2023: £620,542). Produced by Albert Goodman LLP 31
Leweston School Trust Notes to the Financial Ststements For the Year Ended 31 Juty 2024 Intsngible fixed assets Softwaro Cost At 1 August 2023 Additions 97.553 At 31 July 2024 97.553 Amort18atlon: Al 1 Augusl 2023 Charge during the year 97,553 At 31 July 2024 97,553 Balance at 31 July 2024 Balance at 31 Juty 2023 Inv•stm•nts Charity 2024 2023 Leweslon Ent8rpris&s Limited Ordinary shares of £1 eath Leweston Enterprises Limited (company no. 072121881 was inwrporated in England and Wales on 6 April 2010 as a wholly owned Irading subsidiary of Leweston School Trusl. The parent Charity holds 1 OOOA of the issued share capital and 1Cx)% of the voting rights of the subsidiary trading Gompany. The principal activty of the LY)mpany is the attendan of commercial operations on behalf of Leweston School Trust. Th8 subsidiary grft aids its taxable profits to Leweston School Trust, and files audit8d accounts with the Registrar of Companies. Produced by Albert Goodman LLP 34
Laweston School Trusl Notes to the Financial Stslements For the Year Ended 31 July 2024 A summary of the tradiry results is shown bebw: 2024 2023 Tumover Cost of saS8S 332,010 (275,159) 421,093 (373,505) Gr05s {lossy profit Administrative expenses 56,851 (26,670) 47,588 (33,575) Net profrU(loss) before tax Donation payable to Leweston School 30,181 14,013 Rétained in subsidlary 30,181 14,013 The assets arrfl liabilities were.. Fixed assets Cuent assets Current liabilities 60,422 223.756 (558,493) 69,982 173,675 (538.153) Total net assets (274,315) (294.496) Representing.. Called up share Capital Profit and loss account (264,316) (294.498) (264.315) {294.497) 10 st•xk 2024 Charity 2023 Charity Group Group Consurnables and stores Stock for resale 40.463 67.426 40.463 47,576 73.181 47.576 107,889 40.463 120.757 47.576 Produced by Albert GocMJman LLP 35
Leweston School Trust Notes to the Financial Stslements For the Year Ended 31 July 2024 11 Debtors 2024 Charty 2023 Charity Group Group Fees and extras Other debtors PrepayTnents and accrued income Amount due from group undertaking 2.158.095 2.590 65.800 2.103.194 2.590 65.800 479.287 2,269.163 8.878 79,345 2.228,505 74,158 470.778 2.226,485 2.650.871 2.357.386 2,773.441 12 Creditors: Amounts falllng due within one year 2024 Charity 2023 Charlty Group Group Other loans Trade creditors Taxation and social security Fees in advance other creditors VAT and other taxes ruals 250,000 221,965 107.688 4.985.851 400.282 6.775 143,624 250,000 206,590 107,688 4.985.851 343,226 100.000 460,996 355.360 3.676.422 465,888 3,452 12,000 100,000 452,790 355,360 3,676,422 410,382 143.624 12.0 6.116.185 6.036.979 5,074,118 5.006.954 2024 Charity 2023 Charity Group Group Deferred income.. Brought fonvards Received in the year Released in the year 3.676,422 3.676,422 4.985.851 4.985,851 (3,676.422) (3,676,422) 2.983.377 2,983.377 3,676,422 3,676,422 (2,983.377) (2,983.377} Carried forwards 4.985.851 4.985.851 3,676,422 3.676.422 Other loans Other loans include an amount of £50.0[1 (2023: £100.(KJO) are unsecured and are not attracting interest. Produced by Ajbert Goodman LLP 36
Leweston School Trusl Notes to the Financial Ststements For the Year Ended 31 July 2024 13 Creditors: Amounts falling due after more than one year 2024 Charity 2023 Charfty Grp Group Other Ii)an5 Other creditors 3,865.253 3,865,253 3,896.016 3,896,016 3.865.253 3.865,253 3.896,016 3,896.016 2024 Charity 2023 Charlty Other loans Repayable by instalments: Group Group In one year or less Between one and Iwo years B8tween two and five years 1.833.5CKJ 2.031.753 1.833,500 2.031,753 3,896,016 3,896.016 3.865,253 3.865,253 3.896.016 3.896,016 Othor loans Other loans 1 include an amount from the Funding Group of £2,515,253 (2023.. £2,346,016). The loan attracted interest at 3.25% over the Bank of Engkqnd Base Rate in the year. The amount is secured over freehold property owned by Leweston School Trust with a firsal repayment date of 31 DeGember 2032. other loans 2 include an amount of £1,O.(m) {2023: £1,000,000). The loan attracts interest at 3.25°k over the Bank of EThJland Base Rale. The amount is secured over freehold property owned by Leweston School Trust with a final repayment date of 31 December 2032. Oth8r loans 3 indude an amount of £550.(X)0 (2023: £550,CKJO). The amount is secured over freeId property owned by Leweslon School Trust with a final repayTnent date of 31 December 2032. Produced by Abert Goodman LLP 37
Leweston School Trust Notes to Ihe Financial Statements For the Year Ended 31 July 2024 14 Surnmary of movernent in funds Transfers Opening Incoming Outgoing & valuation Balance Resources Resources galns Closing Balance Group Unrestricled funds General reserve Revaluation reserve (287.831) 9,935,288 (10,392.(K)7) 1.707,008 29,248 (715,302) (29,248) 1.677,760 Reslricted funds School produ¢tion 210 210 Total restred 210 210 Endowmènt fund 500,000 1.919.387 9,935.288 {10.392,0071 1,462,668 Summary of movement in funds- prior year Transfers Outgolng & valuation Resources gains Prlor year Opening Incomlng Balance Resources Closlng Balance Group Unrestricted funds General reseNe Revaluation reserve (361,364} 9.037.170 (8.992,8851 29,248 (287,831) (29,248) 1,707,008 Restricted funds School pr¢JduGtion 210 210 Totsl restrided 210 210 ErKlowment fund 500,000 1.875.102 9.037.170 (8,992,885) 1,919.387 PrcKluced by Abert Goodman LLP 38
Leweston School Trust Notes to the Financial Statements For the Year Ended 31 July 2024 15 Analysis of assets between funds unrestrict Restricted Endowment Funds Funds Funds Total 2024 Group Tangible fixed assets Current assèts Current liabilities Long t8rm liabilities 8.047.177 2.896.719 (6,116.185) {3,865.253) 8.047,177 3,396.929 {6.116,18S) {3,865,253) 210 5LKI.000 AS at 31 July 2024 962.458 210 500.(YJO 1,462,668 Unrestricted Funds Restricted Endowrnent Funds Funds Total 2023 Prior year Group TaThJible fixed assets Currenl assels Current liabilities Long lerm liabilities 7.954.147 2.435.164 (5.074.118) (3.896.016) 7,954,147 2,935,374 15,074,118) (3,896,016) 210 500,000 As at 31 July 2023 1,419.177 210 500,000 1.919,387 16 Obllgations under leases The total futu minimum rentals payable under nonuncellable operating leases fund8d by unreslricled funds are as follows: 2024 2023 Due within one year Due between lo five years Due in over five years 62.260 152,147 73.577 239.020 214.407 312.597 17 Related parties Gov8mors are entitled to recover reasonable expenses incurred solely and directly as a result of perfonning their duties as a Governor and Tru51ee. Expenses which are likely to fall inlo this category Indude travel, subsistence, and training costs. During the year nil Governors {2023'. nil) were reimbursed £nil in respect of travel (2023: £nil). Mrs Sarah Gordon Wild a prevKJus Govemor who resigned 23 Marth 2022 had prevTrously advanced a loan of £350.000 to Ihe charity. No interest was charged during the year and al Ihe year end £50,000 (2023: £11XI.000) was due lo Mrs Sarah Gordon Wild. Produced by Albert Goodman LLP 39