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2024-08-31-accounts

Registered Company number: 01942216 (England and Wales)

Registered Charity number: 297580

GOVERNORS’ REPORT, STRATEGIC REPORT AND FINANCIAL STATEMENTS FOR

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (FORMERLY ST ANDREW’S (WOKING) SCHOOL TRUST) (LIMITED BY GUARANTEE) FOR THE YEAR END 31 AUGUST 2024

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Governors Dr C L McShane
Mrs C Phillips
Mr L Pytel
Mr J A B Speed
Mrs K A Wyborn
Mrs D Morgan
Mr S D Brookhouse
Mr S R Hartley
Mrs B A Hunwicks
Mr M Nikoo
Mrs S L Maher (appointed 01.09.2023)
Mrs F Kitchen (appointed 02.10.2023)
Secretary Mrs C Connelly (appointed 27.07.2024)
Head Mr A Ward (appointed 01.09.2024)
Charity Number 297580
Company Number 01942216
Registered Office & Principal Address Church Hill House
Horsell
Woking
Surrey
GU21 4QW
Auditors TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Bankers Lloyds Bank plc
Woking GU1 3ZR
Barclays Bank plc
Woking GU21 6AE
Solicitors Veale Wasbrough
Bristol BS1 4QA
GBH Law Ltd
Elstead GU7 1JX

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

CONTENTS

Page Governors' Report (Incorporating Strategic Report) 1 Statement of Governors' Responsibilities 7 Report of the Independent Auditors 8 Statement of Financial Activities 12 Balance Sheet 13 Cash Flow Statement 14 Notes to the Financial Statements 15

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

The Governors of Halstead St. Andrew’s School Trust Limited present their annual report and audited accounts for the year ended 31st August 2024 and confirm they comply with the requirements of the Charities Act 2011, the trust deed and the Charities SORP (FRS 102).

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES & ADVISERS

The directors who held office at the date of this report are as shown in the legal and administrative information.

STATUS AND ORGANISATION OF THE SCHOOL

During the academic year 2022/23 successful negotiations were held and a merger was agreed between the St Andrew’s School Trust and Halstead (Educational Trust) Limited. Halstead was an Independent girl’s school situated at Woodham Rise in Woking. St Andrew’s was an Independent co-ed school situated at Church Hill House (Wilson Way) in Horsell. On the 1st of August 2023 the whole of the assets and liabilities of Halstead (Educational Trust) Limited were transferred to St. Andrew’s (Woking) School Trust and the name of the school was changed to Halstead St Andrew’s School Trust Limited. Halstead St Andrew’s School opened its doors to pupils on 1st September 2023. It was established as a company limited by guarantee; company registration number 01942216. The charity registration number is 297580.

The respective values and ethos of both schools were closely aligned. Both schools were passionate about ensuring the children were happy because they know that this makes for better learning: both schools promoted confidence and self-esteem which lead to and supported positive and personal growth and achievement for all pupils, and both provided an inclusive, kind and secure environment.

The sole activity of the company in the year under review was that of running Halstead St Andrew’s School, an Independent Preparatory School for boys and girls situated at Church Hill House, Horsell, Woking, Surrey, GU21 4QW, this also being the registered office and Woodham Rise, Woking Surrey GU21 4EE. Halstead St Andrew’s School is a fee-paying school, which represents its principal source of funding.

OBJECTIVES

To build upon the success of both schools, to develop the best that both offered and to forge a dynamic and exciting new school that prepares pupils for an ever-changing world.

The school's vision is:

Halstead St Andrew’s is a family school, providing a caring, secure and nurturing environment that allows our pupils to learn about themselves and grow in confidence. We passionately believe that happy children learn better, and we make no apology for ensuring that happiness is a priority in our School.

The school aims to create a stimulating and happy environment of trust and support in which all pupils are encouraged and enabled to develop their skills, talents, interests and potential to the full – intellectually, physically and spiritually, regardless of social circumstances, age or religion:

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

The Board of Directors (who are the Governors and Trustees of the School) meet at least three times a year to determine matters of general policy, review its overall management and control and agree the school’s stated objectives, for which it is legally responsible. To achieve this, the Governors periodically review the strategic and financial aims of the school, monitor its progress against them, appoint the Head and Bursar, set fee rates, agree capital expenditure, recommend and approve educational policy and provide general support to the teaching staff. Governors are appointed with relevant skills in the fields of education, accounting, property, human resources, etc. New Governors are appointed by the governing board and suitable training is provided as required. Ex-parents are always encouraged to consider joining the Governing Body. The School is a member of AGBIS (Association of Governing Bodies in Independent Schools) an association that supports the Governors and keeps them fully informed of all regulatory changes. The day-to-day management of the School is delegated to the Head, Mr Dominic Fitzgerald and the Bursar, Mr Alastair Law, supported by other teaching members of the Senior Leadership Team. Due to the ill health of Mr Dominic Fitzgerald, and therefore associated absences, Miss Melanie Eaton, Deputy Head, was promoted to Acting Head from November 2023. Halstead St. Andrew’s School is an active member of the Independent Association of Preparatory Schools (IAPS) and the Independent Schools’ Bursars Association (ISBA) for the promotion and maintenance of preparatory school standards generally.

The merger was driven by a mutual commitment to excellence and inclusivity aimed at offering pupils a broader range of opportunities. While every merger naturally presents some initial challenges, the Leadership teams, staff, pupils and parents of both schools have embraced this transition with a collaborative approach. Adjustments such as aligning operational processes and merging school cultures have provided valuable opportunities for growth and learning.

Since the merger, our pupil numbers have fallen, and this is due to parent priorities and beliefs about what best supports their child's development and education. For some parents, the single-sex school environment represents a space where their daughters can thrive academically, socially and emotionally without external distractions.

We are confident the school has worked through the customary post-merger challenges and is now operating on an efficient and fully unified basis. The school benefits from the support of a highly effective Board of Governors.

REVIEW OF THE YEAR’S ACTIVITIES AND ACHIEVEMENTS

In 2023-2024 we have provided an excellent educational provision for the pupils, and the school community has adapted to the merger. We have achieved excellent academic results. We have been extremely successful in achieving the pupils’ first choice senior school entry and produce excellent value added for a non-selective school. We have gained a number of scholarship awards across a range of range of schools and subjects, the accepted scholarships can be seen below:

----- Start of picture text -----
Year School Scholarship
6 Cranmore Drama
Guildford High Academic
Reeds Sport
St Johns Sports x 2
St Teresa’s Sports
Tormead Art & Academic
8 Cranmore Academic x 2 & Sports & Drama
Hampton Academic
Lord Wandsworth Art
----- End of picture text -----

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

Reed’s Sports St George’s Drama St Teresa’s Academic x 2, Music, Sports St Teresa’s Academic

We are extremely proud of the pupils and all they have achieved in the academic year 2023-2024. It is a combination of the pupils’ commitment and ability as well as the excellent teaching that has produced such excellent results. We believe the partnerships that develop between the staff, pupils and parents helps maintain high standards and a love of learning.

----- Start of picture text -----
Senior School Des�na�ons 2023/24
Year 6 Year 7 Year 8
Abroad 1 1
Charterhouse 1
Cranleigh 1
Cranmore 1 6
Farnborough Hill 1
Gordon’s 4
Guildford High 9
Halliford 1
Hampton 3 2
Hoe Bridge 1 1
King Edward’s 1
Lord Wandsworth 1 4
Prior’s Field 1
Reed’s 2 5
RGS 2
St George’s 2 3
St John’s 2 1
St Teresa’s 3 4
Tormead 4 1
----- End of picture text -----

It was so good to enjoy a normal year of activities after the restrictions of the last few years. The pupils were again able to enjoy the many benefits of school visits. Pre-prep went to Bocketts farm, Alice Holt and The Discovery Centre with the Prep and Senior school going to Portsmouth Historic Dockyard, Hever Castle, Theatre trips for several year groups, The Roald Dahl Gallery, Winchester Science Museum, Hobbledown Farm and the Tate Modern. Residential trips were to the Gordon Brown Centre, Hooke Court, The PGL centre on the Isle of Wight, the French trip to Chateau De la Baudonniere and the Jurassic Water Sports Centre in Dorset.

Drama was again a major part of the pupils’ lives with the parents enjoying the Pre Prep Productions at Christmas, including the Nativity, The Carol Services and all year groups involved in productions including The Year 4 Egyptian themed production, The Year 6 production of Harry’s Run and The Year 8 production of Peter Pan, together with the Year 5 & 7 showcase performances.

The Music Concerts across the year were enjoyed by all, with individuals and choirs and the orchestra and ensembles taking part. 49 pupils took their ABRSM exams ranging from grade 1 to 5.

On the sports field the children continued to perform well and our ‘sport for all’ ethos allowed all children to represent the school throughout the year in both internal competition and external matches. Our U11A netball team were crowned regional champions and qualified for IAPS national finals where we progressed to the cup quarter final (top 8 in the country). We had considerable success in the pool with several pupils making the IAPS National swimming finals at the London Aquatic centre in London and also the ESSA primary relays nationals finals in Sheffield. We also had several children being selected into county and regional performance pathways in hockey, netball and cricket.

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

Although it was good to win a number of tournaments and competitions, it is providing all the children with a positive experience and opportunities to play sport that resonates with the school community.

Sports Day was split into three; Nursery & Reception, Years 1 & 2 and the Prep and Senior school. All these events were extremely successful, and it was pleasing to witness the parents fully immersing themselves in the events by donning the House colours. The swimming galas, split into three hosted in our pool and Pool in the Park for the younger pupils, were other highly enjoyable and competitive events, supported by many parents.

The extra-curricular activities continue to grow, and we have almost 50 activities throughout the week from a variety of sports, Karate, badminton, debating, drama and Lamda to dance and crafts. This is such a positive area of the school and has been very well accessed by all the pupils.

The School Council and Eco Council continue to give the children a voice and investment in the school community, feeding back regularly to the Head. The Eco Council continues to ensure the school environment is pleasant and as eco-friendly as possible. Pupil voice is crucial and highly valued at Halstead St Andrew’s and we are proud of the manner in which the children approach their responsibilities.

Our House system continues to grow in strength, and we continually investigate ways in which new events and charities can be supported. The House system is the cornerstone of the school community, and the foundations are built through regular House meetings and the fact that the children sit in Houses, rather than year groups, at lunchtime. This breaks down barriers across year groups and encourages positive social interactions amongst the entire school community. The termly House Charity Days support the House Charities and are run by the older pupils. The end of term Charity Day for all houses was great fun, with all pupils wearing their own house colours. The PrePrep children love the interaction and support of our Year 8 mentors and the feeling is reciprocated by the older pupils. It is initiatives like these that creates that special caring and family orientated community within the school.

The school continues to offer a proportion of its income to Bursaries. These are an important part of the offering at Halstead St. Andrew’s and we take our social responsibilities very seriously. As a kind and caring school, we believe that education is the key to progress, and we actively look for opportunities to support families in their pursuit of a high quality education.

On a practical note, facility development continued on both sites following the merger with the seniors being given their own block and the Pre Prep Library being completed.

RELATIONSHIPS, COMMUNITY LINKS AND PUBLIC BENEFIT

The Directors operate a policy of maintaining and fostering relationships and links with the wider community, to assist in demonstrating appropriate public benefit and the Directors’ awareness of relevant Charity Commission guidance, but also to optimise the use of the School’s sporting and other facilities by the local community. In particular, this policy is designed to awaken in our pupils a social awareness and to educate them in active citizenship and personal responsibility.

The school allows its facilities to be used by the following organisations:

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

The following is a comprehensive list of charities supported and monies donated last year:

Orchard Charity Day Woking and Sam Beare Hospice £1,074.10
Castle Charity Day Woking and Sam Beare Hospice, Wellbeing £859.94
Care, Woking Foodbank and Chari-Tree
HSA swimmers Woking Rotary Swimathon £355
Mu�i Day Children in Need £535.88
Poppy Sales Royal Bri�sh Legion £135.90
Christmas Jumper Day Save the Children £364.96
Pre-Prep Reindeer Run Woking and Sam Beare Hospice and £1,554.51
Wellbeing Care
Grange Charity Day Young Lives V Cancer £623.65
Heath Charity Day Street Child £374.09
House Charity Fair Woking and Sam Beare Hospice and £900
Wellbeing Care

In addition to the above, Castle House and Year 6 and Year 8 families donated over 70 presents to VECC Chari-tree initiative which enabled 75 hampers to be delivered to families and 550 presents to 167 children. FOHSA also donated surplus gifts from the Children’s Only Christmas Shop to the Salvation Army Christmas Toy Appeal, the York Road Project and Woking and Sam Beare Hospice and Wellbeing Care.

These measures implicitly fulfil our aims and objective to provide educational support to the wider community. All of these activities enhance the School’s local reputation for excellence and contribution to the local community and accordingly, the Directors consider that the School has complied with the duty in section 4 of the Charities Act 2006.

RESERVES POLICY

The Directors consider it essential that the School should have adequate reserves to ensure its financial security and to enable the school to provide a full education to its pupils. Such reserves will be invested primarily in improving the facilities of the School, with appropriate amounts held in short-term bank deposit accounts to provide for future contingencies.

PAY POLICY FOR SENIOR STAFF

The Directors who are the Trust's trustees, and the senior leadership team comprise the key management personnel of the charity in charge of directing and operating the Trust on a day-to-day basis. All Directors give of their time freely and receive no remuneration in the year. The pay of the senior staff is reviewed annually. In view of the nature of the charity, the Directors benchmark against other independent schools of similar size and location by taking part in the Baines Cutler triennial review of teaching staff salaries and the AGBIS annual Heads and Bursar's salaries.

RISK MANAGEMENT

The Directors have a risk management strategy which comprises of a termly review of the principal risks that the charity faces. The establishment of policies, systems and procedures to mitigate those risks identified in the termly review and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. The main risks that have been identified and the procedures in place to mitigate them are as follows:

1) A decrease in the demand for places and a corresponding drop in fee income.

The school has a well-planned marketing strategy and a series of open days the results of which are reported to and reviewed by the Education Committee and the Board of Governors termly. The cashflow projections are based on conservative numbers and are reviewed termly by the F&P Committee and the Board of Governors termly.

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT)

2) Loss of Charitable Status.

The school seeks advice from A.G.B.I.S., I.S.C., and I.S.B.A. who campaign on behalf of the independent sector with the appropriate Government Departments.

The school also follows guidance from the Charity Commission and our auditors and our commitment to providing public benefit is a standing item on the Governor's agenda.

3) Failure of care to the pupils.

The school has well defined policies that are reviewed on an annual basis and the implementation of those policies is carried out primarily by the form teachers, Head of House and the Deputy Head with the Head maintaining a constant overview of all policies.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by the Companies Act 2006) of which the company’s auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

AUDITORS

TC Group have agreed to be appointed as auditors for the forthcoming year.

This report has been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies.

BY ORDER OF THE BOARD

Simon Brookhouse

Simon Brookhouse - Governor 27 June 2025

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors, who are also the directors for the purpose of company law, are responsible for preparing the Governors' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard FRS102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

Company law requires the Governors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Governors are required to:

The Governors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

7

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

We have audited the financial statements of Halstead St Andrew’s School Trust Limited (‘the charitable company’) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the governors with respect to going concern are described in the relevant sections of this report.

Other information

The governors are responsible for the other information. The other information comprises the information included in the governors’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the governors’ report (incorporating the strategic report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of governors

As explained more fully in the governors’ responsibilities statement, the governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the governors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

TC Group

Mark Cummins FCCA (Senior Statutory Auditor)

for and on behalf of TC Group Statutory Auditors Office: Sussex Dated: 30[th] June 2025

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2024

INCOME FROM:
Notes
Donations and legacies
6
Investments
7
Charitable activities
8
Other income
9
Total income
EXPENDITURE ON:
10
Charitable activities
Total expenditure
Net income/(expenditure) and
movement in funds
Fund balances brought forward
20
Fund balances at carried forward
20		 Total 2024
£
16,167
6,304
6,402,539
9,439
6,434,449
7,395,675
7,395,675
(961,226)
6,381,621
5,420,395		 Total 2023
£
250
4,310
4,731,115
4,054,938
8,790,613
5,310,518
5,310,518
3,480,095
2,901,526
6,381,621

All income and gains for the year are recognised above. All the school's activities other than those identified above are classed as continuing. Other income for 2023 includes £4,049,901 relating to the transfer of net assets from Halstead Educational Trust.

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

All income and expenditure in the current year is unrestricted.

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 31 AUGUST 2024

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CURRENT LIABILITIES
Creditors due within one year
15
NET CURRENT LIABILITIES
TOTAL ASSETS LESS CURRENT
LIABILITIES
LONG TERM LIABILITIES
Creditors due after one year
16
NET ASSETS
REPRESENTED BY:
20
UNRESTRICTED FUNDS		 2024
£
£
8,826,873
1,194,814
1,449,967
2,644,781
(3,084,044)
(439,263)
8,387,610
(2,967,215)
5,420,395
5,420,395
5,420,395		 2023
£
£
9,027,384
219,661
735,035
954,696
(1,351,830)
(397,134)
8,630,250
(2,248,629)
6,381,621
6,381,621
6,381,621		 2023
£
£
9,027,384
219,661
735,035
954,696
(1,351,830)
(397,134)
8,630,250
(2,248,629)
6,381,621
6,381,621
6,381,621
2,644,781
(3,084,044)		 954,696
(1,351,830)
8,630,250
(2,248,629)
6,381,621
6,381,621
6,381,621

The notes on pages 15 to 24 form part of these financial statements

The accounts were approved by the Board of Governors and signed on their behalf by:

Simon Brookhouse

John Speed

…………………………………………………… …………………………………………………… Simon Brookhouse - Governor John Speed – Governor Date: 27[th] June 2025 Date: 27[th] June 2025

Company Number – 01942216

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HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2024

2024
Notes
£
£
Cash flows from operating activities:
Net income for the year
(961,226)
Adjustments for:
Depreciation charges
13
276,816
Interest paid
10
158,592
Interest received
7
(6,304)
(Increase)/decrease in debtors
14
(975,153)
Increase/(decrease) in creditors
15,16
2,498,827
1,952,778
Net cash provided by operating activities
991,552
Cash flows from investing activities:
Interest received
7
6,304
Purchase of tangible fixed assets
13
(76,305)
Transfer of Halstead School
9
-
Net cash used in investing activities
(70,001)
Cash flows from financing activities:
Interest paid
10
(158,592)
Repayment of borrowings
(48,027)
Net cash used in financing activities
(206,619)
Increase/(decrease) in cash and cash
equivalents in the year
714,932
Cash and cash equivalents at the beginning of
the year
735,035
Cash and cash equivalents at the end of the
year
1,449,967
Analysis of net cash/(debt)
At 1 September
Cash flow
2023
£
£
Cash at bank and inhand
735,035
714,932
Bank loan within one year
(49,608)
(42,109)
Bank loan after one year
(1,977,407)
42,109
(1,291,980)
714,932






2023
£
£
3,480,095
165,316
138,636
(4,310)
(39,984)
719,056
978,714
4,458,809
4,310
(57,006)
(4,345,514)
(4,398,210)
(138,636)
(56,929)
(195,565)
(134,966)
870,001
735,035
Non-cash
At 31 August
Changes
2024
£
£
-
1,449,967
49,608
(42,109)
(7,500)
(1,942,798)
42,108
(534,940)		 2023
£
£
3,480,095
165,316
138,636
(4,310)
(39,984)
719,056
978,714
4,458,809
4,310
(57,006)
(4,345,514)
(4,398,210)
(138,636)
(56,929)
(195,565)
(134,966)
870,001
735,035
Non-cash
At 31 August
Changes
2024
£
£
-
1,449,967
49,608
(42,109)
(7,500)
(1,942,798)
42,108
(534,940)		 2023
£
£
3,480,095
165,316
138,636
(4,310)
(39,984)
719,056
978,714
4,458,809
4,310
(57,006)
(4,345,514)
(4,398,210)
(138,636)
(56,929)
(195,565)
(134,966)
870,001
735,035
Non-cash
At 31 August
Changes
2024
£
£
-
1,449,967
49,608
(42,109)
(7,500)
(1,942,798)
42,108
(534,940)
4,310
(57,006)
(4,345,514)
4,458,809
(4,398,210)
(195,565)
(138,636)
(56,929)
Non-cash
Changes
£
-
49,608
(7,500)
42,108
(134,966)
870,001
735,035
At 31 August
2024
£
1,449,967
(42,109)
(1,942,798)
(534,940)

14

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

1 STATUTORY INFORMATION

The charity is a charitable company, limited by guarantee, registered in England and Wales. The registered office, company number and charity number are detailed in the Legal and Administrative Information.

2 ACCOUNTING POLICIES

2.1 Basis of accounting

The financial statements have been prepared under the Companies Act 2006, The Charities Act 2011 and in accordance with the Charities' Statement of Recommended Practice (SORP (FRS 102)) and Financial Reporting Standard 102.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy.

After reviewing the charity's forecasts and projections, the Governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

2.2 Income

Fees receivable and charges for services, less any allowances, scholarships and bursaries granted by the school against those fees are accounted for in the period in which the service is provided. Where fees are received for a future service period they are included in deferred income.

Investment income is accounted for on an accruals basis.

Donations, legacies, grants and other voluntary income are accounted for as and when entitlement arises, the amount can be reliably measured and the economic benefit is considered probable. Where a donor or an appeal has imposed restrictions the income is credited to a restricted fund.

2.3 Expenditure

Expenditure is accounted for on an accruals basis with irrecoverable VAT included with the item to which it relates.

Redundancy and termination payments are charged to the Statement of Financial Activities on an accruals basis.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

15

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

2 ACCOUNTING POLICIES (continued)

2.4 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold buildings - 2% on cost Buildings on leasehold land - Straight line over 10 years Fixtures and fittings - 20% on cost Motor vehicles - 25% on cost

The school has a general capitalisation policy of £1,000. However, the school’s policy is not to capitalise any property improvement related expenditure under £10,000.

The Governors are satisfied that the market value of the freehold land and buildings is in excess of the value at which they are stated in these financial statements.

2.5 Pensions

Since 1 January 2021 the school has contributed to the Aviva APTIS scheme for Teachers.

The school also contributes to personal pension schemes for its non-teaching staff.

2.6 Cash at bank and in hand

Cash at bank and in hand includes bank accounts, cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposits or similar account.

2.7 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount due.

2.9 Fund accounting

General funds and unrestricted funds are available for use at the discretion of the Governors in furtherance of the general objectives of the charity and have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific funds. The aim and use of each restricted fund is set out in note 20 to the financial statements.

16

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

2 ACCOUNTING POLICIES (continued)

2.10 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The governors do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.

3 TURNOVER

The turnover of the school is wholly attributable to the objects of the school as stated in the Governors' Report and is earned entirely within the UK.

4 NET INCOME/(EXPENDITURE) 2024 2023
£ £
This is after charging:
Depreciation 276,816 165,316
Auditors’ remuneration 13,200 10,500

5 TAXATION

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.

6 INCOME FROM DONATIONS AND LEGACIES

Donations
NCOME FROM INVESTMENTS
Interest		 Total
Total
2024
2023
£
£
16,167
250
Total
Total
2024
2023
£
£
6,304
4,310

7 INCOME FROM INVESTMENTS

17

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

8 INCOME FROM CHARITABLE ACTIVITIES

Gross school fees
Less bursaries and allowances
Net school fees
Add:
Extras income
Registration fees
After school clubs
Easter and Summer camps
Other income		 Total
2024
£
6,590,050
(410,618)
6,179,432
87,788
8,300
73,387
18,336
35,296
6,402,539		 Total
2023
£
4,886,361
(250,906)
4,635,455
25,808
10,200
36,509
23,143
-
4,731,115

9 OTHER INCOME

Halstead School transfer of Net Assets
Sundry income		 Total
2024
£
-
9,439
9,439		 Total
2023
£
4,049,901
5,037
4,054,938

The School merged with Halstead Educational Trust on 31 July 2023 and received Net Assets totalling £4,049,901.

10 ANALYSIS OF EXPENDITURE

Charitable expenditure:
Education
Teaching
Welfare
Premises
Support and governance
Total expenditure		 Staff costs
£
3,906,223
10,903
134,929
380,376
4,432,431		 Depreciation
£
-
-
276,816
-
276,816		 Other
costs
£
436,876
812,912
822,204
614,436
2,686,428		 Total
2024
£
4,343,099
823,815
1,233,949
994,812
7,395,675		 Total
2023
£
2,742,604
492,477
1,234,135
841,302
5,310,518

18

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

10 ANALYSIS OF EXPENDITURE (continued)

Analysis of support and governance costs:

Governance costs:
Current auditors’ remuneration for audit services
Accountancy services
Governors’ expenses
Total governance costs
Support costs:
Printing, postage and telephone
Legal and professional fees relating to support
Support staff wages, national insurance and pension
Advertising and marketing
Interest payable
IT
Bad debts
Other support costs
Total support and governance		 Total
2024
£
13,200
4,118
80
17,398
53,105
117,708
380,376
59,312
158,592
85,242
71,355
51,724
977,414
994,812		 Total
2023
£
10,800
6,000
-
16,800
22,194
145,060
317,019
76,179
138,636
46,717
44,620
34,077
824,502
841,302

11 STAFF COSTS

The average monthly number of employees during the year was:

Teaching
Premises
Household
Support
The aggregate payroll costs for the year were as follows:
Wages and salaries
Social security costs
Other pension costs		 2024
Number
92
4
1
11
108
2024
£
3,686,316
338,157
407,958
4,432,431		 2023
Number
66
2
1
9
78
2023
£
2,411,708
230,933
279,671
2,922,312

The aggregate payroll costs for the year were as follows:

None of the governors received any remuneration or other benefits from the school or any connected body. One Governor (2023: one) had expenses reimbursed in the amounts detailed in note 10.

19

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

11 STAFF COSTS (continued)

Staff paid in excess of £60,000 per annum in the following bands are:

£60,000 - £69,999
£70,000 - £79,999
£80,000 - £89,999
£90,000 - £99,999
£100,000 - £109,999		 2024
Number
2
3
-
-
1
6		 2023
Number
2
1
1
1
-
5

Of the employees whose emoluments exceed £60,000, six (2023: five) have retirement benefits accruing under defined contribution schemes and none (2023: none) have benefits accruing under defined benefit schemes. Total contributions payable by the school to those schemes for higher paid employees were £66,778 (2023: £51,331).

The key management personnel of the school comprise the Headmaster, the Bursar and teaching staff on the Senior Leadership Team.

enior Leadership Team.
2024 2023
£ £
Aggregate employee benefits of key management personnel (including
employer pension contributions)		 614,378 470,538

Wages and salaries includes £117,984 (2023: £38,700) of redundancy costs.

12 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES – 31 AUGUST 2023

INCOME FROM:
Donations and legacies
Investments
Charitable activities
Other income
Total income
EXPENDITURE ON:
Charitable activities
Total expenditure
Net income/(expenditure) and
movement in funds
Fund balances brought forward
Fund balances at carried forward		 Total 2023
£
250
4,310
4,731,115
4,054,938
8,790,613
5,310,518
5,310,518
3,480,095
2,901,526
6,381,621

20

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

13 TANGIBLE FIXED ASSETS

Cost
At 1 September 2023
Additions
At 31 August 2024
Depreciation
At 1 September 2023
Charge for the year
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023		 Freehold
Property
£
4,655,713
41,700
4,697,413
147,937
96,928
244,865
4,452,548
4,507,776		 Leasehold
Buildings
£
5,531,585
-
5,531,585
1,446,788
96,607
1,543,395
3,988,190
4,084,797		 Fixtures &
Fittings
£
611,894
34,605
646,499
188,653
77,492
266,145
380,354
423,241		 Motor
Vehicles
£
105,889
-
105,889
94,319
5,789
100,108
5,781
11,570		 Total
£
10,905,081
76,305
10,981,386
1,877,697
276,816
2,154,513
8,826,873
9,027,384

14 DEBTORS

Fee debtors
Prepayments and accrued income
Other debtors		 2024
2023
£
£
1,078,256
113,173
94,828
84,455
21,730
22,033
1,194,814
219,661

21

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

15 CREDITORS: due within one year

Trade creditors
Other creditors and accruals
Social security and other taxes
Fees in advance and deferred income
Bank loans (see note 18)
Finance lease		 2024
2023
£
£
214,192
348,473
158,272
255,576
157,579
98,896
2,505,618
593,003
42,109
49,608
6,274
6,274
3,084,044
1,351,830

Fees in advance and deferred income includes £1,518,827 in respect of amounts due for Autumn term 2024.

16 CREDITORS: due after one year

Pupil deposits
Fees in advance and deferred income
Bank loans (see note 18)
Finance lease		 2024
2023
£
£
217,115
253,445
795,444
-
1,942,798
1,977,407
11,858
17,777
2,967,215
2,248,629

17 ADVANCED FEES PAYMENT SCHEME

Parents may enter into a contract to pay to the school tuition fees in advance. The money may be returned subject to specific conditions upon the receipt of one term's notice. Assuming pupils will remain in the school, advance fees will be applied as below.

Due within one year
Due in more than one year		 2024
2023
£
£
986,791
-
795,444
-
1,782,235
-

22

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

18 BANK LOANS

Bank loans are wholly repayable in instalments as follows:

Less than one year
In more than one year but less than five years
In more than five years		 2024
2023
£
£
42,109
49,608
168,434
198,430
1,774,364
1,778,977
1,984,907
2,027,015

The bank loan is secured against all of the property and undertakings of the charitable company.

The bank loan is due to mature in October 2043, it has a floating interest rate with a margin of 2.75%.

19 PENSION COMMITMENTS

The school contributes to defined contribution schemes on behalf of its staff. Employer contributions payable to those schemes were £407,958 (2023: £279,671) and at the year end £53,261 (2023: £55,309) was accrued in respect of contributions due to those schemes.

20 SHARE CAPITAL AND CONTROL

The company is limited by guarantee and does not have any share capital. In the event of a winding up each member guarantees to contribute an amount of no more than £1.

21 RELATED PARTY TRANSACTIONS

There were no related party transactions in either 2024 or 2023.

22 COMMITMENTS UNDER OPERATING LEASES

At 31 August 2024 the school had total commitments under non-cancellable operating leases as follows:

Within one year
Between one and five years
In more than five years		 2024
2023
£
£
270,997
270,997
1,083,988
1,083,988
4,606,949
4,877,946
5,961,934
6,232,931

23

HALSTEAD ST ANDREW’S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

23 COMMITMENTS UNDER FINANCE LEASES

At 31 August 2024 the school had the following finance lease commitment with future minimum lease payments of

Within one year
Between one and five years		 2024
2023
£
£
6,274
6,274
11,858
17,777
18,132
24,051

The school has finance leases for a period of 5 years. The asset carrying value at 31 August 2024 was £18,132.

24