Charlty reglstrntlon numbeT 295808 Company reglstratlon number 02086298 (England and Wale81 HOE BRIDGE SCHOOL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
HOE BRIDGE SCHOOL LIMrrED LEGAL AND ADMINISTRATIVE INFORMATION Trustees MsSEWBabgr MrlPKatté Mrs S J LaY Mr G Verity Mr P L Walton Mr R J Williams Mr J L Pallent MrTGVipe MrSTCooke MrDAFox (Apwnled 26 March 2024) Se¢retary Mrs H Davles H¢adleach¢r Mr C Webster Charlty numbèr 295808 Company number 02086298 Regl$tsr•d offl¢o Hoe Place Old Woknng Road Woknng Surrey Untte(l Kingdom GU22 &JE Audltor Azets Audit Servic8S AshL¥Mnbe Court WooLwk Way Godalrning Surray Unrted Kingdom GU7 1LQ Bankers malal Westminister Bank PIC POBox1 2nd fl(hy G3 2 Cathedral Hll Guikthrd SUY United Inj0M GUI 3ZR Soll¢Mor Penningtons Manches Cooper 31 Chertsey Slreet Guibdford Surrey United lfjngdom GU14HD
HOE BRIDGE SCHOOL LIMITED CONTENTS Page Trustees, report Independent audilorfs report 10-12 Statement of financial acbvitigs 13 Balance sheèt 14 &atement of cash flows 15 Noles lo the finandal 8tatemerrts 16-30
HOE BRIDGE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees pr8sont thwr rew)rt and finandal ststements for th8 year ended 31 August 2024. The financlal stat8m&nts havè been prepared In athyd8n¢e with the acwunting polKi8S Set out in note 1 to thg flnaneial statèments and comply wllh the SC1's arbdès of assc*xthn. the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Racommended Practice applicable to charities preparfng their accounts in aco)rd8nce with the Finaniaal Rep(Kting Standard applleable in the UK 8nd Republlc tsf Ireland IFRS 1 Q2} l&ffe¢tlve 1 January 20191.. Objectlves and aetlvltlès The oblects for whlch the School is estsblished are to promote and wowdo the advancement of education. In furtherance of the objects, e Schwfs prinapal continues to be that Df an indepèndent Pre-Prep and Prep School catsrfng for boys and gits from age tffi lo Ihirteen. Our 5 Year Vlslon The vlsion of our school for the next 5 years is around malntalniny our positim at the forefront of educatlonal progréss and delivering the best experienc83 for our chlldrèn to thrive within. We have an energy and passion to f081er everyone in a spedal way, a way that enab thèm not just to grow. but becom8 strongér In the belief that they are becoming tha b8st rx)ssible version of thotTwJves. In our carfng environmenL wlth adults who are comrnitted and ofler thè most Spaal of nurturlng appri)aches. our children can enjoy a sthLKI that slimulales th?m to be at Ihgir h8ppi831, nTh)st confident and able to athieve Iha most fantastic things. Ihfith thls und8rpinniry the primary foundations of our sthool, we k)ok al the growth of our seniots. years, extending the wonderful Senior Prop years (Year 7 & 81 to Cmjr Senw Sthool IY6ar g 10 111 and the GCSE Hub. We have the most exclb.ng project in buiSdin9 a statf-the-art senR)r school th81 is N8t Carbon Zero, ultra Sustainab In build and will deliver B spauous sduestional envirimment for our Dkjest childr8ll to develop into the most affarte and proacb've citizens of th8 future. With the bést teachers inspiring their learning, the latest tèchnology facilitating a growth In knowledge in so many differtng ways and the ethos and cultura of Hoe Bridge Sch1 creating tha mo$t effeclve culture, the foresegaNe bjre wll simply gnhance the extraordinary impact that our school can have Dn the lives of the chlklfgll Wtthin our car8. In conjunction with the physical growth of the school, the Fwibifities for our chiljren to embrae8 our unique opwrtunities ryI1 also dèvelop. We wll spread wr SKth"wvJ experienc8s arourKI our local arpa and as far and ¥thde as Dubai, Sl. Lucla and futher affield,. buikl on our rnusical rthre whilst encA)uraging our children into the highest kvels of involvernent both in sdicKJl and within the mulblude of opportunlties in and around London and Europe,, perform stage within our drama, musical theatre. dance and the wider arts to the most exeepuonal levels in the most splendid of th&atre spa8 and to stretch tho broadest areas of school life lo tha maximum. We will slmply notjust prowd6 8 standard educauonal ioumey but use tha most exdled and insighffijl L)f minds lo create something thal deliver8 the experienr£ that will ready this gen8r8Uon for the fuiure. As Wkth the future of our chitrJren. the next 5 y8ars is excitiro, fvll of incredible opportunltl&8, With a community that has 8 desire lo improve and an attilud8 lo progress the next phase of life that wlll shortly appear on the horizon.
HOE BRIDGE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT} (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 PUbC Ber In planning the aCtIeS for the year. Ihe GDv8rrM)rs have hj regard to Ihg Charity Comrllis8lOWI'8 guidancg on publlc benefit and in parttcular ils supplementary guNJance on advancing education and fee charging. The athlugs bgnefiled both the adults and thiklTen of Woking And rts surrouThllng area and do not glve rlse to any delrfment or hami to the public. Th8 Gov8mors ball8v8 that thé bursary systèm is 85senlial to ensure that children from families who would othèrwisè bè unable to afford the SCho,s fees may still attend the S(ool. The Govemors keep the Scho. Bursary policy under constant to help ènsur8 thg obp¢tsve of widef a¢cess ¢x)ntinues lo be a¢hlèvad. Th6 bursary 8yStem is available to anyone who meets the School's enty requirements and based on the parents, eans or In cases ol hardship. where a pupil's aecess lo ttnUed educauon at the sch)1 is al risk. for example, in case of redundancy. Th6 Govamors. in cattylng out thè means t8Sting, havè regard lo m8ny matters Including but not limited lo family incomg, Investrnents, 5awry and personal circumstances. Durfng the academic year, 8 pupils wor8 awarded mèans t8Stbd bursartas 12022-23.. 41. Awards of bursaries amounted to £40,344 knis yfar, incr9888 from £33,9LKJ 2022-23. Scholar8hips wlh monetary valug wFie awarded for the fir81 time, to 5 pupyls in the Senior Prep and amounted to £11,034. Sibling discounts. whh help fatnilies to send their chIren to the same school. were £88.723 this wr12022-23.' £72,760). In addition, the School gave diseounls tg slaff at a feg value of £186,944 12022-23.. £194,000). Staff discourts arg 8 wgy of providlng assistanc¢ to key WOTk8rs. The arTV)unt made available for means tested bursaries t(yJelh8r with all Other ¥w8rds represents 4.0% of Gross Fee Incc¥ne12022-23: 4.4%). The School does not have any end(bWmellt and so in fvnding the bursary System the Govemor8 have to ensure a proper balanc6 beiween fee paying parents. who are r¢cognisgd as maklng pgrsonal SafiC¢S in order to educate their chlldreh at the School, 8rKI thosg vtho 8r9 8w8rded bur88rig8. A numb8r of outreach aclNities were undertaken durfng the year in support of bcal charftles and schools, at no cost tts the participants.. Headrnasler is an 8cUvè m&Mrof a k)cal state Sd)1 partner5hip- WSLP Donauons of books to local stsle schools Harwesl donatK)n to Woking Food Bank Free use of facilities to local crick81 dubs Hire of classrooms & lacilitles at subsidised rates to bcal nguage schwls Lijcal school meeting sx)int- various DSUAsslstant He3dIHeadleaCr training or host centre ITrust donation Ips) The School has a licY of optimislng the use ol the School's sporung and other facilllles vla th6 local comrnunity. During the year the School made its buikllrvjs. grounds arKI 0th8r rewrc85 availabl8 8lth8r 81 fully subsldised rat95 or at rates below commer¢t811ovel$ the putAic benefft of bcal thildren in the followng organi8alions'. Pyrford Cricket Club Woking and Hot5ell CriGket Club Rajasthan Royals Academy Mandarin, Portuguese & Italian Languag6 Sch( Hoe Brtdge pupils and the Scool comnwnity regularly tak8 part in fundraing aCtlti8$ ts I1 8nd national charities, m*)st of which are chikjren bawl (u. Durfng y8ar, lunds were raised for the fclkjwing charfdes.. Cha116ngors Wave Wrangler Children in Need Woknng Swlmathon (Rotary Club ofwokingl Thè Royal British Legion Ma(millan Cancer Support Just One Tree
HOE BRIDGE SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 This year, as in the past, the School chos8 to support fvKJ ¢hantie8 through an open vote by tt)e childrgn and stsff. Th&se ar8 èxplained further tbw. Challengern.. Challengers is a eharity that gives dlsabled chikjren and ycung people tho opwrtunity to play, have fun, and make fiiends in a safe and supportlve environment. AsKJè from being fvn. aY is essential for a chlld's eognilive, physical, social, and mèntal wè111ng and depMent. Through piay, ¢hildren learn to build conffldgn¢e. self- esteem, creallvity. arKI how to interact th Othors. Sadly, tt>) many dlsabled young people miss out on play every day. There arB many barriers stopping dISab chijdren from pl8yirvJ- from physical impaim)6nts and a lack of accesslblè play faulitses. to Ime. mon8y and supporL That's where Challengers eoJnes in. .they MoV thèse barriers by prowdlng truly Induswe play and l&lsura that everyone can ènloy and j¢>in in with. m mattar how ojmplex their needs are. Young people cen go lo thelr Pre- school. Play and Youth schemes and ex[lence the same fun ar friendshlp 8s their non-disabled peers, with activltias adapted to SUVL their unique individual needs. They hava bèèn passionate champions of inclusi since the charTty was establish in 1979. and more than 40 yoars on, Chalengers has grown 19 provKfe smiles and18ughter to IhoLwnd8 of disabled ¢hildrgn and youn9 peopl8. Wavg Wrangler: Wrangler IcK>ks to bulld awareness of Ilvlng WI anhythrnia through OfaaSed exp8dthns. Through hcisting ev&nls, expeditions and thallenges. the carity rais8s funds lo help pgople of all agès deal with the compli¢alions of arthythmia including the donation Oi Ib saving devi. Following 5 years ot being In and wl of hOstlS tryirg lo rnaintain a ragutar heart rhythwn, ElliDI Awln b8trAmg the recipient of a CRT-P device Ipacemak8rl In February 2020. Tho experience of fully 'living" th8 frustrslions that go h8nd in hand wth an iTgUlar hèartbeat, induding mulliple (ardM)verslMs ted Elllot lo found Wave Wranglèr. A charity wlh a mlsslon to holp those Iwing with arthythmia. As a charity, Wav6 Wpangler wll use The World's Toughest Ruw. and other Ocean Rowlng events to rais& funds to support thosè Ilving with known and unknown heart rhythm Issues. In December 2023, Elliot Awin took paTI In the event solo. As a reciwenl tsf an implanted pacemaknng devi. he hopes to show that. although il d)anged his lifg, the possibilidas for adventure are still vasd In 2023. founder Elllot Awn was the first lo row an Oan th a cardiae p8clng dèvice. Overall during 2023-24. including amounts fdtsed by the Sth¢x)I's parent corllrllittees, the sum of £22,842 was raised for the charities namÉd aiM)ve. Of this amoun( £4,085 was paid out to the charfties before th& year end, whilst the remaind6r will b8 paid out during 2024-25.
HOE BRIDGE SCHOOL LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Strategic report The description under the heading5 'Achievements and perfom)ance" and 'Financial review meet thè company law requirements for the tiustees to present a strategic report. A¢hievements and performance The edLSC3tion across the School continu8s to be dynamic, inspirational and successful,. with the pupils developing their skills and thirst for knowledge from an eady age. As well as academic success, Sporting, musical and artistic success is celebrated throughout and taken together help produce 'Happiness. confiden and Achievement. in all pupils. The results below of pupils, progression lo senior schools of their Choi reflect all that we do at Hoe Bridge and are a team efft)rt'. Leavers 2023-2024 Year 6 Leavets Year 8 Leavers Toial Aldro School Chartarhouse School Cobham Free SchDoI Frensham Heights Guildfoid High School Gordons School Hallrford School Hampton School King Edward's School Lord Wandsworth Co119ge Reed'5 School Royal Grammar School Salesian College Sidcot School St Catherine's School St George's Ascot St George's Weybridge Sl John's School Sl Teresa's School Sir William Perkins School W8llington College H08 Bridge Senior School TOTAL 20 53 20 26 79 More details including a video and 8 photograph gallery can be seen on our website". .hoebridgeschool.co.uk. Thes& reSLJlls, together with the SchDoI's other educ8tion81, recreational and operational activities. satisfy the Govemors that it has achi8ved its aims for the year.
HOE BRIDGE SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Financial rgvigw The financt81 and aeademie year 202&24 has a su(tsssfvl year, wilh wpils fulw Immerseil in school lif8, parcIpatIng in trips and other 8ctivlbe5. The results for the year and the finaniaal posibon of th6 School arè as shown in the annèxed financial ststemenls. The School monitors its financial perfotrnanc8 agaln81 a series of Key Perfomiance Indicators budget variances, cashflow forecasts, pupil.'tsacher ralk)s. staff cost ratios, debtor 18vèls and b¢)rrowirtg covenants. Most results achieved for the year were ¢x)nsistgnl wth or better than the Kgy P8rf0rrnan Indlcalor targets.. ar chI•m•nt 532 10.6 3,904 16.1% Pu il numbers av8r8 Pu il.'Teacher ratio Bad debts Borrowl 10.1 rètk>1Smlt 50.0% Income The financial stalements slKtrw r1 irwming soU for the year of £771.512 12022-23.. £340.234}. The principal source of income is school fees whi( accounlgd for 88.29¥.12022_23.' 90.01•AI of tha School's gross income this year. The remaining inc4Jme was derived from wrap-around ca, extsBvcurricular 8ctlvities, holiday camps and local authority SDurces lor dedicated classrwm supFK)rt to pupils with identified needs. Charitable Expenditure Total charitabFe expenditure Increased by 16.59% from £6,882.927 to £8,024,480 88 a Tesult of Incrèased pupll numbeTS and inflationary pressures on costs incurred du11j the year a3 well as one%)ff costs r6laas&d to the SOFA in respeot of the senior sch(x)I proje¢ Ros•r¥8s polley Note 19 to the financial 5talemenls s)WS assets and liabililies attributable trj 1h8 fund. UnTestricted funds amountéd to £10,246.581 12022-23.. £9,475.069} bui £12,498,085 1$ investsd in fixed assets. There are no r6stri¢tod funds held as at 31 August 2C124. The Govom(xs have detemiined that Ihe approprioto levsl of fre8 re8erve8 which are not inve8ted in langibie fjxed assets strh)uhl be equNal8nt to weeks or one school term's expendire {appTOX. £2,000,OCMI excluding depreuation}. The free reserve8 do rK)t meet the target reseryes poSicy as at the babnce sheet date. Howèvèr, the Governors are satisfied that the strength of the School's bance sheet. reatistic financial and cashflow forecasts from good puwl numbers across all year grjps. the Ongng FM)wtanty of our Sch(xJl and the availability of banking faolities provide thèm with SLJffidènt ¢onfidenc& for the Sc)r5 financial lulure.
HOE BRIDGE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 The tnJst&ès hav& assessed the major risks to YthKh the S(ool is exposed. and 8re $8ti8figd that systems ar8 in place lo mitigate exposur& to the major risks. The main risks to the School are the ¢urr9nt wTrltbcal and economic prsraS on thè sactor, wpil recruilmenl and rotenlion, Complian vAlhln an ever-charoing regulatory enrmOn( m8intAinlng a healthy financial status. recruillTrJ and retalnlng hlgh lIbre teachlng aThJ support staff anLI pre8eMng the excellent reputation of the School. Our pkns and strdtegles for managlThJ rlsk Indude= an annual review of a Rlsk Register * a programme o18ctiwUes promoting the bèn8ffls of thg SG11 an established organisats'onal stmcknr8 dear lin85 of reporllng forrnal writtgn lueS that grg reVi8V and updated reguL4rfy annual staff updatss of regulat chang8s. estdally for 5afeguardiThJ comprèhenswe strategic planniw, bLJdgèting and management accounting proactive steps lo address kwn and anti'Pated threats clear authorisatlon and approval leveL8 robust staff wruitmenl pr(Ledures b8iro lully prepared for regulatory inspoctr)ns dèlivering cLJnsistentty oxcBllenl resuRs for our pupils malntaining strong Ilnks Wtth parents. Plan$ for ft41uro p6rlods Future Deve ènl Plan A key focus for future pedods continutss lo be the development of crtjr S8nlor Sthool offering, wth our first cohort of pupils CDmmencing Yèar 9 in September 2025. Ple lo Our 5 Year Vision on page 1 for futher information. Teachin and Learnin To continuo to keep abrè8St tsf Nanal CuThloJlum dovek)prnents aryj changes to Common Entrance gxamlnalion Syllabu8. To further improve curriculaT link8 beiween the Prep and the Pr&Prep Schools. To continue to provide a fiTSt class all rou1 èdu¢xtion for its pupils. To increase Ihe use ol ICT acr03s tho curriculum. staff Dev810 ment To furth&r dgvelop optimum staffing 1gvg1s,' and to C4)ntinue lo plan. delNer, wnonttor ar evaluate profe58bnal devèlopmgnl for all leaching, non-teaching staff and Govémors. Facl To continuè to devdop and Im[Ve th8 tsthic and fauliti8s of Ihe Sth(KA. ICT To eontinu8 Investing in Ets rtrlling reFAacement and mobllè technokw PTogrdmrnes lo equip dassrooms across Pre-Prep and Prep Schoo]s with approwi8te facibties lo enhance their edue4tional oxperience. rsari To continue to malntain and develop the bursary scheme to provide aSStance with fees in appropriate cases. StYu¢ture. goveman¢g and management Hoe Bridge Schth)l Limltèd Is a charitable company Inumber 02086298) limited by guarantee 8nd has no share capital. The School w88 established under a MerTh)randum and AA'clès of Associati. which establlshed the oblectlves and powers of the Schcx)l and is govemed Uer rts Artklès of Association. The School was ftsrmed on 30 De¢¢mbgr 1986 and b6cAmè a registered charity. number295808. on 12 January 1987. The govemir¥J body is a board of Gov8rNJrs whith mLl cs[SI of a minimum of three and not more than twenty one nmberS. As Hoe B0 sctrmx rnited is a company and a drity. the &)vemors ara 8Jg0 thg directors and trustees thereof.
HOE BRIDGE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees. arg also the directors for the purp of mpanY law, and who served during the year and up to kne dale of signatsJre ofthe finanaal statements wero.. Mrs S EAmold MsSEWBaber MrlPK8tté Mrs S J Lacey Mr T G Smlth Mr G Vorfty Mr P L Walton Mr R J Williams Mr J L Patient MrTG Pipe Mr8T Cooke MrDAFox (Resign1 3 December 20241 (Resigned 26 March 2024) (Appolntsd 26 March 20241 RNItmartt and Tralnlng of Governors All Govemors are (XwI1. The Board rewews rEs cStitU6ncY on a regular basis. analysing the skills available lo 11 and idgnlfying any gaps there might be. The Board recrulis additnal Govemors, whon required. Irom th& parent body, friends of the School, businesses and professions so as to malntain thg full range of sknlls and expertise requlred lo ensure the (x)ntinuing giKKJ practi of the Board, and so to enhan the ovgr811 strategic m&nag&mènt of thè School. A list of potential Govemors is maintained. Potential Gtsvemors are initlally Inlarvlewtsd by the Chair and the Headmaster and then Intr(xJuced lo the fijll Board. All new Governors arè issued with the AGBIS "Guidellnes for Govemo. handbook. In addtbon tr) briafirus from the Independent Schix)18 Council, Independent Assoelallon of Preparatory Schools and the Ind&pondent Schools, Bursars ASsration, Governors may also attend seminars and workshops organised by professional bodk on topics of interest including the imp8ci of new legIatIon and reguLati on edUonal charities. The trustèÈs havè eonsidered the guhlance Issued by th9 Charity Commission in respect of the Govemanc6 Cod8 and confirm that the trustees are aware of Ihe seven principles set out wtthln. The tnjstees continup to slrtve fL¥ best waCtI and are ensuring the Code is adhered to in the pdirA6s artd procedures Implemented by the School. The Govemors as trustees of the School 8ra iagalfy responsib for the overall man8gemenl and eonlrol of tt School and rneet lormally thr68 timès 8 year. The &)vemors are also preSerrfed on functional SLIbmmIttees for FinanTr & Bursary and Educabon & Welfare to enabie efftiVe and dif>gènt gov8rnan¢e. These sui eorntnittoes meet wce per terni and report into Ihe fijll MIng tJdy at its subsequent meeting. Acting in accordance with the vM$h&s of th8 Board. the Headmaster ha8 strategic responsibllity frjr the dirgction of the School as a whole. working with the Plead of the PrG-Pr8p Sch(M)I, assisted by Ihe Sonior M8nagemenl Team and tho Bursar. The Headmaster, the Head of 1hè Pr8-Pr8p School, the Bursar an¢J the Clerk lo the Govamors allgnd all fomal meelings. Key management personnel aro conslder8(I to be the (&Nerrxy5. who are unpavj in their ro18s as Govemors, and the Head, Head of Pig-Prep and the Bursar. The Govomors are re5pon5ible for setting ramuneration of key rnanagemenl pèrsonnel. In settir)g tr1r remuneratbon, th8 Governo take note of national pay scales. indivldual p8rfDmian¢e and internavextemal benchmarking as necessary. The s¢01 has no offlcial arrdngemenl wth olher pth'es or c*artties nor has It 8nt8r9d into any transactions in which the Govemors had an inieresl. other than disdosed wlthln note 22 to tho fin8ncial statements. Audltor In accordance the company's arb'cles, a resolution proFN)sing that Azets Audit Servic95 be reappointed as audiior ol th8 wmpany will be put at a General Meeting.
HOE BRIDGE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED} FOR THE YEAR ENDED 31 AUGUST2024 Oisclosur• of Inforni•tion to audltor Each of the trustees has Conflrmed that there is no inforn)atn of whith Ihey are aware which is relevant lo the audit, bul of whl¢h the auditof is unaware. They have further Lxnfirmed that they have taken appropriate steps to 1d9n1 such relevant Infomiation ond to èstablish Ihat the auditor Ls aware of such infomiation. The trustees. TOrt {IM¢orpordling the directOTS' report) was 8r¥Yoved by the Board of Trust. Mrl Katté Dat8 £t
HOE BRIDGE SCHOOL LIMITED STATEMENT OF TRUSTEES. RESPONSIBILrriES FOR THE YEAR ENDED 31 AUGusf2024 Thg trustoe$, who 8r& 8180 the directors of Hoe Bridge Sch(K)l mited for th8 purpose of company law, are ro8pon8iblg for preparing the Trustees, Rwrt and the finaal stalements in a¢wrdance applhxbl8 and United KirvJdom Accounting Standards (Unitéd Kingdofn GeneraltyAccepted Accounting Practicel. Company Law requir88 the trustees to prepare financi81 statements for each finanL¥al y&ar which gN8 a tru8 and 18lr view of the state of affairs of th& Schod and of thè intr)ming resources and appliraty)n of resourcAs. Indudlng th& income and expenditure. ofthg ¢harilable ¢x)mpany for that year. In preparing these finanThal statements. the trusteBs are ruired to: - select suitable BccountiThJ pollcles and Ihen appty them wnslstenty. - obsaNa tha mèthods and wnelplès In the Chaiitse5 SORP.. - make judgernants and &sllmates that are rèasonable arKI ent.. and - prèp8ra the finanal 8ts1ements on the going ca)ncem basss unkns tt is inapproprfate io presumg that Ihg Sthwl wlll continue in operation. The truste95 are iesponsiblg for keeping adwuale ac(ounling records that dis(*)se with reasonable accuracy al any line the ffinancial po8ilion ol the Schwl and enable them to ensure Ihat th8 financial statements wmply wlh the Companies Ad 2006. They are also responsible for saf6guArding the assets of Ihe School and hence for tsking reasonablo steps for the pventi¢)n and doti{ of fraud ar¥J other irregularities. The tNstees are responsible for the malntenancg and int9grity of charity and financAal Information included on the School's website. Legislal¢)n in Ihe unit Kingdom wveming the preparation and dlss8mination of financlal statements may differfromlouislalion in otherjurisdictions.
HOE BRIDGE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HOE BRIDGE SCHOOL LIMrrED Opinion We have auditsd the finanaal stalerrEnls of Hoe Bridge Schwl Limtted Ithe'schoof) for the year ended 31 August 2024 which comprfse the ststement of financial aVibes, the balance sheet, the 51aterrent of cash flows and the notes to the finanal stalemenls. induding a summary of signfficant accounting wJlicie8. Thg financial portIng framework that has been applied In thelr preparation i% apFlicab Law and Unrted Kingdom Accwnting starardS, including Financial Reporbng Standard 102 The FIFpanu'BI Reportirt9 Standaftl applicable In rh& UK and Republic of Ireland (United ngdoM Generally Accepted A¢)Unting Prackn"cel. In our oplnlon, the financial statements.. give a truo and fair view of the state of Ihe Charitab o)mpanYs affairs as al 31 August 2024 and ol incoming reSrCeS and application of resou. Induding its InlMe and expendilure, for the year then ended., have been propgrty preparod In accordance wtth Vnitod Kingdom Gentsralty Acceplod Apx%)unting Practice., and have been pwepared In accordan¢8 with the wuirements ofthe Comp3nle8 Act 2006. Basis for opinlon We conducted ovr aUdt In aceordance wlth Inlemational Slarall$ i)n Audng (UK) IISA% IUKII and applicable law. Our respons1bililies under those starvjarils are fvrthgr described in Ihe Audrforfs rosigonsffbilitles for the audlt of fh& fjn8nol41 slatsments seckn'on of our report. We are independent of the &thool in accordance with the elhl¢al requirernents that are relevanl to our audll of the finar¥ial statsments in Ihg In¢ludlng the FRC'S Ethical standard. and we have fulfilled our other ethical respsItlI8S in accordan wth these requiremènts. We b8li&ve that tha audll ovidenGe we have clained is sufficient and at¢Yopriate to prowde a basis for our opinion. Concluslons rglating to going concern In audlllng the fin8n¢i81 stslements, we have Conduded that the truytees, use ol tha golng ¢oncem basls of )unling in the preparation of the financial staterrnts is appropriate. Based on the worti we havè perfomied, we hav8 [1 Id9nti any matsrial UnrtaintieS relating to events or condldons that, individualty or cdlectively. may (2sl Signifi¢nI dwbl on the School's ability to wntinue as a golng con¢¢rn for a peiiod of at loasl twgjve months frn when the finanaal statements are authorised for issue. Our responsibilities and the responslknltS of the truSS wth t9spt to rnrHm are described in the ral8vBnt sactK)n8 of thi8 rew)rt. Othor Informatlon Th8 other Information comprfs8s thè informathjn induded in Ihe annual rert olher th8n th8 fln8nd81 statements and OLJr auditoi's report thereon. The trustees are responsible for the other infomiation r£sntained within the annu81 report. Our opinion on the finarrial statements do&s not covèr the othar informauon and, eXp1 lo the exl8nt otherwise 8xpliciUy staled in our raport. do 8xpress any fom of as8uranc8 conelusic>n thareon. Our responsibilty Is to read th8 olh8r Information a1, in dryng so, consider whether the other information is tM81grialty inconsistent wth the finan(aal statemenls or knowledge cJtsined in the o)urse of the audiL or otherwise appears to be materially misstated. Jf we identify such mat8ri81 ints)nsisténciès or Apparènt m8t8rial misstat6ments, We are requSred to dgtsrmine vknether Ihis gives rise to a mateiial misstatement in the financial statements themselves. If, b&sed on the work Yve have performed. w8 condudtr that th is a matertal misstatement of this othsr infomiation. we are requlrèd lo reFrt that fa¢t. We havg nothing to report in this regard. Oplnlons on other matters proscrlb•d by the Companlès Act 2006 In our opinion. based on the worf( undertaken in the course of our 8udll". the Infomalion given in the trustees. rewt for Ihe finandal year for whlch the ffinandal statements are prepared, which Includes the direCtS. retM)rl prèp8rBd for Ihe purpDSèS of cornp8ny law, is ctsnsistent th th finanaal statements." and the directors, report induded vrithin the te8s. retxjrt has been pyepared in aC(xxdaFe W(th applicable18gal requirements. 10-
HOE BRIDGE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOE BRIDGE SCHOOL LIMITED Matters on whlch we are requlred to rgport by exception In Ihtr light of the knowledge and understandin9 of th8 School and Its envlronrnenl obtained In thè course of the aud( we have rt identified material misstalgm8nts in the direclors, rePt Included withln tha trust8es' reporL We have nothlng to report in respgrt of Ihe folkn¥ing matters in rejauon tg whith the Companias Act 2006 requires us lo port to you rf. in our opinion- adequate accounting records havè not been kepL or rebjrrts adequat& for audit have not txen recelved from branchès not visilèd by us., or the financlal statements are not in agreeThnl wth the accountsNJ r8(x)rds arHJ retums. or certain disck)sures of trustees, remunerdtk)n specthed by Law are not mado: or we have not received all the information and gxplanab'ons we require fr)r our audit or Re$ponslblllt1 of trusteos As explained more fully in thg statement of Irusiees, rvspon8ibilthes, the trustees. who Br8 also the d1CtOrS of the School for the purpose of cornpany law. are r&swnslble for the preparation of thè financial statements and for being satisfiad that they givè a tru& and fair vlow, and for such internal control 85 the trustegs determine is nè¢essary to 6nablè thè pr6parètion ol fin3ncial ststements that are free from rnaterial misstslemenl, wh&th&r due lo fraud 8rror. In pr8paring the financial statements, the trustees a responsible for assessing tha School's ability to continue as a going C4)rern, disclosing, as appli(b18. mattws related to 90ing Goncem and using the going coneèm basis of 8m)unting un18ss tStee5 either intsnd to liquidats the charitsble company or to ¢&8S OP8ralions, or have no realistic alternative but to do so. Audllos r8spons1bllltS for thè audft of the ffn$n¢lal $tatements Our objèctives are to obtain reasonable assurance ab(Mrt whether Ihe financia] stalem8ntS 88 a whole are free IrDm material misstat8m6nt. wther duè to frawl or error, and to issue an auditorfs r&rKJrt that includes our opinion. R&asonablÈ 8ssur8ncè is a high lev81 of assurdnce bul is rKJI a guarantee that an audit ndlted in accordancè wlh ISAS IUKI will aknjays delecl a material misstatem1 when it exists. Misstatgments can aris8 from fraud or error and are considered malerial if, individualty or in thè aggregate. they (x)uld reasonably be 9Xpted lo influenc the economlc decisions of LJs6rs taken on th6 basis ofthètse finan¢ial stslements. A further descrfpllon of our responsibilities is avalable on the Flnand81 Reportrng Coundl's webstie at.. htty)sJl www.frc.org.uklauditorsresponsibililies. Thks description foms p8rt of our auditorfs report. 11
HOE BRIDGE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (COKllNUED) TO THE TRUSTEES OF HOE BRIDGE SCHOOL LIMrrED Extent to which the audit was considered capable of detsctlng Irregulaiities. including fraud Irregularities. including fraud. are instances of non-complia with Lqws and wulalions. We design procedure8 in Ilne th our re5ponsitsliknes. ouuinpd abov& and on the Finan¢ial R0POrtiny Council's website. to detect materlal misstalem8nts in resp8Ct of iegUlarities. induding fraud. We obtain 8nd updatg our understanding of entity, ts activities, ils ¢x>ntrol environm8nt. and Ilkely future dovelopmenls, including in relation to the legal and regulatory ftamework applICab and how the entity 15 ¢tsmplylng with IhBI framework. Based on this understanding. w8 id8ntrfy ass6ss th8 risks Df material misslalgmenl of the financlal statèments. whglher due to fraud or error. deswJn ar perform audi¢ proc9dures rgsponsfve to tF¥)se risks, and obtain audit evidence that is suffiaenl and appropriate to prowde a basis for our opinion. Thls Includes considerath?n of the risk of acts by the entity thal weTe (n1[ary to applicab laws and regulations, including fraud. In response lo the rtsk of IrTegLJlaritles arKI rK)n-¢(mpliance laws and reguktlons. IndudSng tra, we designed procedurès whlch Indud8d= Enquiry of management and those drged wlth vemance around acknal and potential liligatiun and elalms as w811 &4 actual, su$ted and alleged fraud., RVwIng minutes of m8eb.ngs of those charged with pvemance" Assessing the extent of comp1Sare wllh the Laws and regulations conshlered to hav8 8 direct malerfal effect on the finaneAal stat8m8nts or thè 0ratiOnS of thè èntity through QUlry and inspection,. ReVAn financi81 stat8ment disck)sur8S 8nd testing lo supporting dumont8tn to assess compllance wtlh 8pplicabl818ws and regulations.. Performing audit work over the risk of management tsas and override of controls, including testing of journal entries and other adjustments frjr 8ppropriatènoss, ev8lu8ting the business rationale of significant transactions outside the nomial Ixyjrse of IHJsiness aThJ rewewing a(xx)unting estitllatgs for indicatr)rs of potential bias. BeGau50 of Ihg inhorenl limitstion5 of 8n audit, there is a rlsk Ihat we wll not delect all ITregularflps. including Ihose loading to a matenal misstatement in the financial slatements or non4compllance wlh wgulation. Thls rfsk increases the more that compliance wth a Eaw regulakn.on K8 removed from the events and transactions refle¢18d In the fflnancial sla16m&nls. as we will be bss likety to become aware of instsn¢&s of norwmpllance. The risk of not detecting a material misstatement resurting from fraud is higher than lor one resulting from &rror. as fraud mèy involve colluOn, forgery. intentional omlswons. misrepresentations, or the override of internal control. U89 of our report This report is made sdety to the tharitable companvs Mbers. as a body, in acoxdance with Chapter 3 of Part 16 of the Companies Act 2006. (Xjr audlt wtsrk has en undèrtakèn so that we might state to the d)arilable companV8 members thosè mattèrs wè 8ré r8qulrgd to stste io them in an aLJditoffs rèport for no other purpose. To the fullest gxlonl pemitted by law, we do not ept or assume responsibility to anyone otrler than Ihg charitable wmpany and the charitable company's members as a tr*)dy. for our audit work, for ihls repoTL or for th8 OPIn$ WO have forrned. Dobra Saundors Bs¢ FCA {Senlor Statutory Audltorl for and on bèhalf of Azets Audit Servlce5 Charterèd Aeeountsnts statutoryAudltor 9 April 2025 Asrnbe Court Woolsack Way Godalming Surrey United Kingdom GU7 1LQ 12-
HOE BRIDGE SCHOOL LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2024 Unrestrleted Unrestrl¢t8d funds funds 2024 2023 Notss Come and endowm Grants IncL)me from charftable athvltie$ Other Income ts from,. 79.592 92,946 7,765,713 6.501.896 950,687 628,319 T¢)tal In0 8,795,992 7.223.161 Ex 8ndlturè on: Anatysl$ of gxpendlture on chaiitabl• acthhlès 8.024,480 6,882.927 Nel income for the yearl N•1 movgment In funds 771,512 340,234 Fund balances at 1 Soptefflber 2023 9,475.089 9,134,8 Fund balances at 31 August 2024 10,246,581 9.475,069 The slat8menl of financial activities indudes all gains al losses recognised in tho year. All Income and gxwndlture d8rlve from c¥)ntinuing actlvlties. The statement of financlal activlti8s also cDmplies the requiremonts for an incoma and expenditure account under the Companies Act 2W6. 13-
HOE BRIDGE SCHOOL LIMITED BALANCE SHEET ASAT31AUGUST2024 2024 2023 Flxod ass•ts Tanglble assets 12 12.498,085 12,049,751 Current a558ts Debtor8 Cash at bank and in hand 13 1.492,172 3.535,750 1,673.(ffi4 362.123 5,027,922 2,035,187 CMdltors: amounts falllng duè wlthin tsno yoar 14 15.580,7331 13,377,817} Nel Current liabilities 1552.811 11.342,6301 Totsl #$$o18108s ¢urront Ilabllltles 11,945,274 10.707,121 Credltors: amounts falling due aft•r more than one y¢•r 16 6983> 11.232,052} Net as$•ts 10,246,581 9,475,069 Income funds Unrestricted funds eneral General UnstrICted lurKts Revaluation roserv8 8.992,311 1,254,270 8,220,799 1.254,270 10.246,581 9,475,069 The financial statements wère approved by the Trustaas on......................... Katté eg Company Reglstratlon No. 02086298 14-
HOE BRIDGE SCHOOL LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notos Cash flows from oparatlng activiiies Cash generated from operations 23 4,205,790 959,645 Investlng actlvllles Purthase of tangible fixéd assets Proe8èd8 fvom di$p05al oftsngIte fixed assets 1952,6751 1561,4121 750 N•t eash usèd in investing activities (952,6751 (560.6621 Flnanelng aetlviti RepBymant of bank loans (79.4881 (79.487) Net cash uud In flnanclng actOvW•s 179.488) 179,4871 Net Increase In cash and cash equlvalents 3.173,627 319,496 Cash and cash 8qvlvaltrnts al Wlnning of year 362,123 42,627 Cash and ¢#8h équlvalerts •t end of year 3.535.750 362,123 -15-
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 Accountlng pollcl•s Th8 signifi(xnt accounting polici8s applied in the parat)n of these fjnanclal statements are set OLAt bew. Thèsè polid8s have b8an tt)nsistènlly applied to all yeats presented unless olhernise slaleil. Charlty Informallon oe Brfdge School Llmited is a chaiilable Gornpany limtted by guarant£8 incory)orated in England wlth CpanY mglststion numbèr 02086298 and charity number 295808.The registtrrod office is Hoe Place, Old WOng, Woking, Surrey, GU22 8JE, Unl1 KInl. 1.1 Accountlng eonventlon The finanBI stat6m8nts havè b88n prepared in ac>XTdan with the Sd)ool's Artides of Associauon, tho Comp8nies Act 2006 and 'A¢untIng and Reporknng by Charitses: Statement of R8¢ommend8d Practice applicable to charities preparing thelr acLx>LSnts in ac¢x)rdan¢g wlh the Financkil Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) leffecttve l J8nuary 2019)". The School Is a Public Benefil Entity a$ defined by FRS 102. The finandal statements are prepaTed In sterfing, which is thts rnettal currency of the School. Monetary amounts in these financial statentS are rounded to the rbearest £. 1.2 Golng conrn After reviewing the SchoJfs forecasts and projedio, th8 trusteos have a reasonable expgctalion that the School h&$ ad8quate resourc8s lo nnUe In cyeration for the fOsee?l9 future. The School therefore continues lo adopt the gn9 concem b8¥is in pr8parfrvJ its llnanaa5 stslements. However, nol all fijlure events or conditions (an be predicted and the tnJste85 8(klres8 S1)firs1 any risks to the School'8 finAncial fuiur8 in thè Financial Review SGcbon of their annual report. 1.3 Charitsblg fvDd¥ Unrèstrfctad funds are available for us8 ai tho dk%uebon of Ihe tNstees in furtheran(* of Ihelr tharitable ObjecVe$. 1.4 Income Fees receivate are accounted for in th8 peri¢yJ in which tho Servi 15 provided. Fees receivable are ststod after deducbng allowances for scholarships and 01her remissws by the SGhty)I from its unrestricted fund8. Grants are Includad in the Stat8m8nt of Finanaal Activitses M a receivab5 basis. The balan¢e of income received for specific purFK>se5 t1 rt eyn(Jed during tho P6ri1KI Kg shown in the relevant furKl8 on th8 6a]ance Sheet. Where income is reiVed in advance of entitlement of receipt ils recognition is deferred and included in cr6dItr as deferred inoome. Where entiuement ocujrs beft)ra income is rgceiv8d. thè Income is 8¢¢rued. Government Grants Governmgnl grants ar9 included in the S18teTn8nl of Finarrial ACI"veS on a reCeiVae basis. Thè Inrne received and related experKlilure are included as unrestriGled funds. 16-
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 ACCourng pollelo8 Icontlnuedl 1.5 Expendlture Exp8nditure is recognised once there is a legal or c(StnIa oblatrOn to transfer eOrnIc benefit lo a third paty, it Is probable that a transfer of eo)nomic benefits wjll be requited In setuerngnl. and the arnount of the olgatIon CAn bè meawred reliabty. Expendllure is dassified by advrty. Th8 costs of each activlty are M1$ up of the total of dirgct c08ts and shared costs. induding support costs Invofv&Y in underta.ng each 8ctivity. Direct costs attributable lo a slngle activity 8ro alloc•t8d direclty to that acliwty. Shared o)sts whith contribute to morè than one actfvity and SUPPDrt costs which are not attributabk to a slngiè advtty are apportioned bern trose aclivilles on a bas1$ consistent with the use of rBsourc&s. Central staff o)sts ate lOcatj on th8 basis of ts'M& spth, and depreciation charges are 8lloc818(l on the pOrt)n of the asseys us?. All expenditure Is accounted lor on an acwals ba8t3. All eXpndItUre is dasS under athily hoadlngs thal aggregate all costs relatéd to the Catewry. Charttsbl8 costs include the cost of wnning the SdN)ol. teaching slaff costs and other educational costs necessary lo further the purrM)ses ofthe Sth(K>l.. Governance costs represent the eA)sls of the management of the SCW arKI of comptying wlh constltutional and ststLrtory rgquiramorts. The irrocoveralAe VAT is charged against the category of r•soureAs eynded for whlch rt was incurNI. All expendlture Is recognSsed once there is al or conslructive obligation to maké 8 payment to a Ihlrd paty. 1.6 Tanglblo flx•d ass•ts Tanglble ftxad assets are Inltlally measured at (x)st and subsequenty measurad at cost or vatuation, nel of d8prod8tion and any impaimpnt108ses. DoproLxation is recognised so as to WTite off Ihe cost or valuation of 8ssets1g38 theiT residual values ovor IheiT useful lives on the followlng bases.. Freehold buildings IT equlpment Fixtures, fittings & equlpment Sports equlpment Plant & machinery er 50 years 25°A straiglrt line 20% r8du¢ing balance 10% rg(lucing balance 15% run9 balance Assets in the eourse of eonstruGbon are not deprerAated. Assets under construdlon inclLKles amounts in relation lo items Ythe the co81 has been incurred but the asset wdl br(xJght into use in a tllre flnaneiBI year, as well as cost in relati{ to the consiruclion of 1he SonK)r &*ool. Ses notes 11 and 12 for furthbr details. The gain or Ioss arising on the dispKwI of an asset is determined as difference between the sale proceeds arKJ the carying value of the asset. aThJ is recognised in tho Statement of financAal activities. 1.7 Cash and cash equlvalents Cash and Cash equivalents indude cash in hand. deposlts hdd ot rall wth banks, other short-tam) Ilquid investments wilh original maturities of three months or kss, Ènd bank overdrafts. Bank overdrafts arè shown within borrowlngs In currant Ilablliliès. 17-
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Aeeountlng poll¢lg¥ Icontlnuodl 1.8 Flnanclal In$tTuments Financial insknments are rècffjnlsed In th8 S(kn)I's balan¢% sheet en the School beclles party lo thg contractU81 provisk)ns of the instnjment. Basic financial instruments are InitilY recognised at the trantion price, unless the arrangemonl wnslltules flnanung transaction. whero it Is rg¢ognis6d at the près6nl value of the future payments discounted al a market ratg of Intgrg8t for 81mllar debt IrtrUment. Debt inslrumenis are subsequently measured at amorti8ed sL Flnanclal assets that ar9 mgasured al c4)st or a[rI1 arp reviewod for objedNe evldence of impairnienl at thg end of each reporting dale. If there is objective evNlencE of impaimient, an impairrnent Ioss 18 recognlsad in profit or loss immediatgty. 1.9 Employee b8noffts From 1st September 2021 tha sch1 exlted the Teathers P8nslon Scheme in favour of the Avlva P&nslon Trust for Indap8nd8nt Sthool¥ IAPTISI 8d)omo. Thg School has a defined ojntribution pension schemg for thoso members who are not eligible lo join the APTIS Schemè. Pension costs charg8d In tha Stst&mènt of Finanual Aettvitias r8pr(Wt Ihe (tilbtiDns Payable by the S¢hool in the year. 1.10 Loas8s Rentals payable under operating leases. incbjdlng any lease incentives received, are charged as an 8xpensè on a straight lin& basis Dverthe tem of the tB]trvant baEg. Critical accountlng esttmates and Judgements Th& prèparation of the finanaal stalements uireS management to make judgements, estimates and 88sumplions that affect the amunEs rew)rted. These esumates and ludgemnls arg continually reviewed and are based on experiencè ar other factors, indud1r ey4)eGtstions of futUTe events that are b8ll&ved lo be rèasonab under the ar(m3tanceS. Accounb'ng estimates and assumptlons mada Con19 Ihe futurè and, by thèir nature, wll rarely equal the related 8etU81 outeomg. The key assumptions and other sources of 8sl'mation un¢ertainty that h8vo a sMJnificÈnt risk ol causing a material adjustment to Ihg ¢8rwng amounts of assets and liabilifie5 Yrithin the next financial year are as follows.. Crltlcal ludgèmÈnts 111 Usèful t¢onomic lives of tavbglble flxed assets The annual d8preciation charge is sewtive to changes in the estimatad usaful ecorK)mic fjves and residual V81ues of the assets. The usofvl noMiC 1fv8s and rèddual valuès are ré-8gsèssed annually. Thay ara amended where neSSary lo refiect ¢urrenl estimates based on technological advancement, futu Investments, eoonotnic Utilisatil, and the physical o)ndition of assets. S Note 12 for the carying amounts of tangible fixed assets. lill ImpaSrnient of assots Nonrycurrenl assets irKlthJing fixtures and fltullgs. plant and equipynenl and mcitor vehides are reiewed for impairmènt if èvènts or changes in rCUMStanS indicate that the carrying amount may not be re¢ovèrablè. Whwo such an event or change of circumstanc&s lakès place, then addition81 impairrnenl may be required for fijture peiiods. 18-
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Grants Unrestri¢led Unrestrlctod fundB funds gèneral ggneral 2024 2023 Govemment granis 79,592 92,946 Grants rocefvable for core acttvilies LocalAulhority funding 79,592 92,946 79,592 92,946 Incomo from charltablè actlvltl•s 2024 2023 Cross fees Less bursaries, ¥(*olarnhips arKi dis¢ounts Other income 8,074,9e3 6,786,280 {326,0451 13LKI,6591 16,775 16,275 7.765,713 6,501,896 Other Income Unrestrlcted Unrestrictgd funds funds general 99neral 2024 2023 N81 galn on diswsal of tsngible fixed ats Holday camp After-schoc4 dubs Treetops after school care Trips and other income 750 201,275 195,017 113,074 118,203 220,866 251.313 136,445 342.063 950.687 e28.319 19-
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HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Support costs Support a0ManCe costs costs 2024 Support costs Govomance o)sts 2023 Staff costs Finan¢& costs Marf(eting Costs other staff costs 313,457 177,765 19.790 10,598 313,457 177,765 19,790 10,598 255.211 133.696 32.543 24,4(KJ 255,211 133.696 32,543 24.40D Audit fees Accr)untancy 14,500 7,114 14.500 7.114 13,500 5,188 13,500 5,188 521,610 21,614 543.224 445,850 18,688 464,538 Analysed bèlwèèn Charitable activitles 521,610 21.614 $43.224 445,850 18,688 464.538 Goveman¢e costs indLKl8s payments lo tha auditors of £14,5CQ {2023- £13,5CQ} for Budll feos. Trusto#s Nonè of th& trust888 lor any per%)ns connecied with them) r1ved any remuneTatTron during the year. There were no Iruslees. expenses paid for the year ended 31 August 2024 nor for thtr year onded 31 August 2023. 21
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Employ998 Number of èmploy8es The average monthly numbgr of empkny8es duriThJ tho year was: 2024 Numbèr 2023 Number T8achlng stsff Support staff FAclllti8s and admln 57 56 42 13 15 116 Employm•nt costs 2024 2023 Wage8 and salaries Soc181 sécurlty ¢osts Employers. pensign (x)sts 3.4,963 367,411 374,938 3,606,363 348,127 348,209 4.667,312 4,302,699 In addition lo th8 above are statt costs in respect of Treetops, After Sthool Clubs and Summor Camp totalling £227.87812023- £190,856)- The number of empksyees whose annual remuneration was £60,( or more were: 2024 Numbgr 2023 Number £60.000- £69,999 £70,000 - £79,999 £110,000- £119,999 £120,0-£129,g9g 10 Taxatlon Tha charily Is exempt from tax on income arKI gains fallirvJ wtthin 5e¢tion 505 01 the Taxgs Act 1988 or section 252 ofth8 Taxation of Chargeable Gains Act 1992 lo Ihe extent that these are applied to its th8ritsb19 objècts. 11 Impaiiments Impairment tests have been carried cArt vthere appropriale arKI the following Impairment b8808 hav? been recwnised in the Statement of Financial Acth"vibes". 2024 2023 In respect ofr Property. plant and uIpMent 185.781
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 11 Impalmiarts (Continuéd) Th8 impairment loss relatss to &wts previousty capitalised as ass8ts und8r constN¢tion in relation to the senior school project. The deCiSn was made to impair the 8ss8ts when the applicatton for plannlng rtnission for the proj¢ct was Unsu5¥fUl. As al the dale of approval of the finan(xal statements. the appeal decislon Is p&txllng Ixrt the trustees expect il to be successful.
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HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 12 Tanglblo ffiX assots Icontlnuodl The carying Vu6 of land indud8d In nd and buildings comprisgs: 2024 2023 Fr8ehold 4,249,000 4,249,000 Land and buildings wth 8 carrying atnount of £11.164,000 waro r8valued al 31 August 2021 by Ggrald Eve, Independent valuets not connected wth the Schwl on Iha basis of mark81 value. The valuation wnform8 10 International Valuation Standards and was based on da$t replacement cost for speallsd properties. The Iruslees have consldered the valua1ton as a131 August 2024 and havo condudad that il is not materlally dlfferent to Gqrrying value of the land and ilIdIngS. At 31 August 2024, the revalued assets (xrrigd at historic cosl less accumulat8d d8prgGlation and accumulated Imp31mient losses, their rxryng arrK)unt would have been apprtsxim8t8ly £11,293,48812023 - £11,444.037). Freehold land and buikjings with a carj amount of £11.505.836 {2023 - £11.257,7511 hav8 boon pledgad to secure borrowings of th8 Sthrx)l. Tha Is not alkiwed to pledge these assets as 8eBurity for other borr¢>wings or lo s611 them to anothw onlty. More Snfomadorj on thè impalm)Bnt arfslng In th8 y8ar u4 gNen in note 11. 13 Dèbtors 2024 2023 Amounts falllng duo wlthin one year. Trade debtors Other debtors Prepayments and accnjed income 1.388.384 15,028 88,Y60 1,596.029 77,035 1.492.172 1.673,064 14 Credltors: amounts falling due withln one yoar 2024 2023 Bank loans Other taxation and social security Dafèrr8d income Trade crediloTS Other credVLors Aceruab and defeThed Income 15 79,487 113.366 4,169.538 90.011 693.711 434.620 79,487 117,369 2A42,213 73,456 554,016 111,27e 17 5,580.733 3.377.817 Included within other creditors are f80 deFW)sks tolalllng £407.2S)12023-£392,750).
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 15 Loan¥ and overdrafts 2024 2023 Bank loans 1,232,051 1,311,539 Payable Mthin one year P8yablg after one year 79,487 1,152,5fj4 79,487 1,232,052 The lontemi loan5 aro secured by fix1 charges a5 follows.. On Ihe 14 October 2014 Natkn81 Westi)wnstsr Bank PLC C¢d a debenlura over all assets of Hoe Bridge S¢hix)l Litnrfced, this 8ecurity is not limtt&J. On the 26 July 2016 Naliond Weminsler Bank PLC creaj a legal Chade over Hoe Pkce, 224 Old Woklng Road. GU22 8JE. this securtty is t limited. 16 Credltors: amounts falllng due aftor mor8 than on8 yr 2024 2023 Not•s Bank loans Deferred Incom8 15 17 1.1 $2.$64 546,129 1.232,052 1.698,693 1,232,052
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 17 Deferred Incom¢ 2024 2023 Arfslng from feas received in advance 4.715,667 2,442,213 Deferied Income is induded In tho finandd statsments as folbws: 2024 2023 D8er income is included withln: Current liabilities NorcUrrent Ilabililies 4,169.538 546,129 2.442.213 4.715,667 2.442.213 Movements in the year Deferred income at 1 Septemb8r 2023 Re18ased from previous perrods Rosourc88 d8ferred in the year 2,442,213 2,009,696 12.442,2131 12,0(19,6961 4,715,667 2.442,213 D8ferr8d ineom8 at 31 ALtgust 2024 4,715,667 2,442,213 18 Retlrement b•nèfft sch8m•s Defined contrlbutlon s¢h•mas The School participates in tho AvNa Pension Trust for Independent S¢oIs IAPTISI ¢M9, follng Ils thdrawal from the Teathers, Pension Schem& in 2021. Contrik)utiOFlS to the APTIS sthgme in the year we £430,50812023- £399,446). The Sch1 administers A defined (%)ntrition 9theme for supKK>rt stsff. The cost for tha year gnded 31 August 2024 of thè SCIOrs (x)nthtMJtJns lo this Sdn was £58.817 {2023- £50,7fj81. Pens)n contributr)ns of£52,17512023- £52,840) were outslarKling 81 the year end. 19 Anawls of net assets bÈtwÈen fvnd¥ Unr•strlet•d Unrestricted funds hjnds 2024 2023 Fund balances at 31 August 2024 arp rBprp8ented ty. Tangible assets Curr8nt liabilities Long torm liabililles 12,498,085 12.049.751 (552.8111 11.342,6301 (1,698,6931 11.232,0521 10,246.581 9.475,069 -27-
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 20 Flnan¢l•l commitments. guaranteeB and contingent liabilltl•8 Thè sch(xJl has pald a first deposR for the aU[on of land adja(*nt lo Ihe oJrr8nt site Iso8 riot8 121. Subl8Ct lo planning perniission beirtg granted. a second dept and nal balan totalling £643,500 wlll fall duo. Tho timing of thls118billty Is d8p8rKlènt on plannlng pèmissLon belng grdnlèd. Aft8f thè year end the entered into a o)ntract for building repairs. The eslirn8led Cost of the work Is In the region of £1.7m excluding VAT. The work Cornmend during the 2023.24 finarKial year and is duo to be mplet¢d durfrrfJ th9 2024-25 ffin8ndal year. 21 Operating l&as• commltm8nts At the reporting end dale the Schod had outstanding ojmmitments for future minimum lease payments undar non-cancellable operatlng leases, which fall due a5 folk)wE'. 2024 2023 Wlthin one year Between two and fw$ yga 66,283 139,282 51,434 132,821 205,545 184,255 Lease payTnenls recognlsed as an expense during the yeartolaNed £129.69612023- £97,532). Related party transactlons Rtrmungration of key management personnel The r8munèrat1on of kay management personnel a5 folb)ws. 2024 2023 Aggregate compensalion 348,012 335,939 -28-
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 22 Rolated party transOOn9 IContlnu•dl Transactions wlth rebtgd parti Durfng the year the School ent&r8d Into the fr0ng transadons with related pa8$.. School fees Provlslon ot profasslonal sorvlcas 2024 2024 2023 2023 Mrs H DavTes IBursar} Mr P Wallon ITrusteel Other rèlated parties 12.480 22,574 4,459 18.164 4,049 35,054 22,623 1,680 4.049 Included in trade debtors al year end 1$ a tol¥l 8fTb)unt of £nil12023- £61 due Irom the trustees In r8sptr¢t of the transactlons notgd above. Th$ tmslee Mr P Walton is a partner of Penningtons M8nthes LLP. transactions with whom are disclosed under other related parties. IndLthd in trade credttor5 at year end is an amount tsf £nil12023 - £1,164) due to Pennliigtons Manches LLP. Addllionally, close family members of key managewngnt per50nriel were employad by the school durfng the year, totalling £13.805 {2D23 - £11.7141- Thg staff are paid Ythhin the nomal pay scale for thelr roles arHJ C&Nè no gral traatm8nl as a resutt of their relal'onship to key managoment personn81. 23 Cash g•n•rat•d from op•rntion$ 2024 2023 Surplus for the year 771,512 340,234 Adjustments for Gain on disposal of tangible flxed assets Deprecialion and Impalmnt of tangib fix8d ats 17501 283,820 504,339 Movomgnts in working ¢apital'. Decreasel1lncaseI in debtor¥ Increase in ueditors Increase In deferr¢d Income 180.892 475.593 2,273.454 1270.3181 174,142 432,517 Cash generated from op?ratlon$ 4,205.790 959.645
HOE BRIDGE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 24 An•lysls of chongos In not fundslldebtl At1 Septsmb•r 2023 Caah tlo At 31 August 2024 Cash at bank and In hand 362,123 3,173,627 3.535,750 Loans falling due wthin one year Loans falllng due after more than one year 179.4871 (1232.052) 179,4871 11,152,564) 79,488 {949.416} 3.253,115 2.303,699 25 Company Ilmltsd by guarantso The members tsf the Schoc4 guaraniee to 0)ntr[lts 8n aftUnt not exceeding £1 to assets of School In tho event of a winding up.