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2024-08-31-accounts

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

Charity Registration No. 298326

Company Registration No. 02203226 (England and Wales)

ST. MARY'S HARE PARK SCHOOL

(A company limited by guarantee and not having a share capital)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees F. Jones B. Olofinjana K Schrod (Appointed 19 April 2024) G D White (Appointed 1 September 2025) Charity number 298326 Company number 02203226 Principal address South Drive Gidea Park Romford Essex RM2 6HH

Auditor

TC Group 5th Floor 3 Dorset Rise London EC4Y 8EN

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

CONTENTS

Page
Trustees' report 1 - 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Statement of financial position 12 - 13
Statement of cash flows 14
Notes to the financial statements 15 - 28

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2024

The trustees present their annual report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives, Activities and Performance

Charitable objects

The principal object of the charity is to provide education for children, primarily those professing the Roman Catholic faith, through the operation of St. Mary’s Hare Park School. The school is established to run according to its founding principles, while remaining open to children of other faiths at the discretion of the Council of Management. The school is maintained as an independent institution within the meaning of Section 114 of the Education Act 1944, and is committed to promoting the recognition of exceptional merit in pupils, including the provision of scholarships and benefactions.

The charity’s activities further include the employment of qualified staff, the provision and maintenance of suitable premises and equipment, and the support of charitable associations and initiatives aligned with its educational purpose. All income and property of the school are applied solely towards the promotion of the school's charitable objects.

Pupils

At 31 August 2024, we had 147 pupils on roll. Most classes are well attended and are either at or close to the optimum number of students of 20 per class though Year 1 and 3 are below that, which is believed in part to be an adverse impact from the pandemic.

In September 2024, the number of pupils was 139, rising back up to 147 in January 2025. At September 2025, there

were 145 pupils on roll.

Plans are being put in place to review the school's approach to marketing with the aim of attracting new families and increasing pupil numbers significantly.

The school held 2 open days during the year. The first in October 2023 which resulted in 2 firm applications and a second in March 2024 with more than 24 families in attendance and 8 firm applications. In addition, 85 phone enquiries were received resulting in 40 visits and a further 20 applications covering January 2025 to September 2026.

Marketing is being actively managed which includes two open days, maintaining a quality and up to date website, Google analytics, use of social media platforms, high quality advertisements, school brochures and leaflets.

Secondary places:

Our current Year 6 class have continued the school's tradition of being very successful in obtaining offers from distinguished schools. We are particularly proud of the 6 students awarded scholarships to Brentwood, New Hall, Chigwell and Papplewick schools. A further 7 students obtained places at Brentwood, Chigwell and Papplewick, 2 at grammar schools, 6 at voluntary aided or religious nature schools and 2 at specialist academies.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Pupil data

The data obtained from end of term and year tests show that the school is continuing to produce an excellent standard of academic achievement, reading and maths results show that our classes achieve above national standards. We continue to identify areas for progression and development for future years which form part of the school development plan for 2024/25. A new phonics scheme will be implemented in the early years classes through to Year 1. We continue to focus identified on writing and will assess across all year groups.

Pupil voice is to be given more emphasis: we have been reviewing the ways that we are providing opportunities for our pupils to take leading roles and have a key influence on their school.

The school council meets with the Headteacher every Monday and continues to have an influence and a voice on whole school matters, providing a voice for all pupils. We have a variety of new initiatives for children to lead in alternative ways including:

Travel Ambassadors Mini-Vinnies (RE) Wellbeing Ambassadors Digital Leaders Play Leaders

These groups are made up pupils from all ages in Primary and they have been responsible for leading change and a variety of events over the year, some of which have resulted in raising significant funds for charity.

Lamda

Three classes have sat Lamda exams over the course of the year, and once again are results have been outstanding.

Sports Events

The school continues to compete in local Havering school competitions. We are on track to achieve School Games Mark ‘Gold’ for a third consecutive year. The school offers a breadth of sports on offer for children of all ages, football, tag rugby, gymnastics and jujitsu for example. School Sports Day was a resounding success, receiving many positive comments from parents. Play Leaders have been embedded into daily school life. PE teaching remains high quality, inclusive yet challenging.

Following the excellent work of the PE team led by our PE coordinator, children of all ages from Years 1-6 were entered for numerous competitions this year including; athletics, tag rugby, badminton, football, tennis and cricket. Notably our boys cricket team, having won their category, will be playing in the finals.

ISA Events

The school has continued to maximise its involvement as a member of the ISA over the course of this year. In keeping with our aims in the school development plan, staff have been forging and cementing relations with other ISA schools to share good practice and see what methods, resources and policies we can adopt to support the quality of teaching and learning at SMHP. Staff make good use of the training offered by the ISA to support CPD both in specialised subjects and personal development goals. The headteacher attends regional meetings where knowledge can be shared on key topics such as new ISI inspection framework and VAT on school fees.

It has been a very busy and successful year in the art area of the school. We have been fully engaged in entering the ISA art competitions throughout the year with a few successful entrants getting mentioned in the awards, notably digital art and poster work on road safety.

The school launched its first STEAM week (Science, Technology, Engineering, and Mathematics) which was a collaboration between science, maths and arts leads. Year 3-6 entered their winning entries into a national ISA competition.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

School Events

A full calendar of events is run by the school. These include the popular concerts at Christmas and Spring, Harvest Festival, termly masses, Sports Days and summer musical theatre productions. We are grateful for the support of our parents at these events.

Educational and Residential Trips

The school has arranged a variety of opportunities for children of all ages to attend various sites for curricular and extra-curricular opportunities. These include:

Year 3 and 4 Farm Trip

Year 1 and 2 Barbican Trip (interactive music concert) Year 5 and 6 visits to local places of worship Year 4 Stubbers outward bounds trip

Year 6 visit to Duxford War Museum

Residential Trips

Our Year 6 class spent three days at the PGL centre at Bawdsey Manor in Suffolk from the 15th to the 17th May. This follows the successful trips enjoyed by prior Year 6 groups. We are continuing to provide a shorter trip for our Year 5 class at a local centre in Danbury each September.

Attendance

Our overall attendance figures for the year have been: Term 1 – 93% Term 2 – 93% Term 3 – 94.8%.

Parents of students who are persistently absent or late are given advice. The Children Missing in Education policy has been placed on the school website.

Staff

At the end of August 2024, a KS1 teacher, KS2 teacher and a TA left the school. We have successfully recruited replacements for these starting in September 2024.

Staff Professional Development

As previously mentioned, staff have been encouraged to participate in training opportunities predominantly those offered by the ISA.

All staff have completed their annual safeguarding certificate and the National College Prevent training. Cyber Security and Online Safety training is being rolled out to all staff and trustees.

Safeguarding

The staff received all the relevant updates regarding the latest 'keeping children safe in education' document in the staff inset at the start of the school year.

All staff have been trained in the use of CPOMS and use it to report all situations that highlight a cause for concern.

The safeguarding policy has been reviewed and updated.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

RE

The new RE Directory (RED) is being rolled out to the school which sets out RE learning objectives and outcomes for pupils. It is currently in use in early years and Year 1 and all teaching staff have received training to support planning. In addition to the roll out, the school is kept informed of upcoming feast days and Christian holidays. A rosary club was run in October and May to encourage children to pray a decade to the patron saint of the school. During Advent children were encouraged to send prayer packs home to facilitate prayers at home, an initiative that was well received.

Digital Learning

The integration of IT within the school continues with the achievement of many milestones during the year. Training sessions have been provided to staff during INSET as well as individual collaborations. The increased iPad resources have had a positive impact on both Computing classes and in the classrooms. For Year 3, all students have access to their own device and have quickly learned to use them to support learning. Parent workshops have been held where they were able to see how their children were using the iPads in class. Using iPads helps sharing students work i.e mirroring to the main screen and aids discussion and understanding.

Resources such as Purple Mash are being used for both Computing and in classrooms to help consolidate learning and integrate IT into lesson delivery e.g. presentations, quizzes and videos.

Communication with Parents

The weekly school newsletter continues to be well received by parents who appreciate its colourful content and updates on what their children have been doing in school. Communication with parents is facilitated by emails via iSAMS and Google forms as a way to gain parental consent efficiently for trips etc. Scopay is used for parents to place cash into virtual wallets to pay for meals, trips and wrap around care.

Improvement to School Premises

The past few years have seen significant investment in the upkeep of the premises and this year saw the completion of works for the new Junior school roof and boiler replacement. The school has continued with improvements to layout of the school with the relocation and redecoration of classrooms and other learning resource rooms e.g. grouping early years in closer proximity.

Public Benefit Statement

The charity is a public benefit entity. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees consider that the activities outlined above satisfy the public benefit requirements.

The reserves of the charity are primarily held to finance the day to day running costs of the school.

Financial review

The school's principal source of income is school fees. The total incoming resources for the year was £1,542,062 (2023: £1,356,137). Total resources expended in the year was £1,600,716 (2023: £1,689,075). The net expenditure for the year was £83,654 (2023: £307,938).

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Reserves Policy

The reserves of the charity are primarily held to finance the day to day running costs of the school.

It is the policy of the trustees that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the school’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has reduced during the year.

The total funds at the year end are £459,041 (2023: £542,695). Of this balance, £400 (2023: £408) are restricted funds, £419,173 (2023: £424,656) are designated funds and £39,468 (2023: £117,631) are general unrestricted funds. Free reserves at the year end total £nil (2023: £nil). The charity is working to bring the free reserves back to a positive position.

Designated funds relate to amounts earmarked by the trustees for various maintenance and repairs to the school building. The expected timing of this expenditure is uncertain, as the charity has no major repairs planned, therefore these will be spent as and when required.

Risk Management

The trustees have assessed the major risks to which the charity is exposed which includes the financing of the school's operations. The trustees are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees' strategy is one of continuing improvement including :

Principal Risks and Uncertainties facing the school are:

External economic factors and the sustainability of fee increases

Structure, governance and management

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association which were signed by the subscribers on the 11th November 1987. The school is a registered charity registered under the name St. Mary's Hare Park School.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

F. Jones K. Wilson (Resigned 19 April 2024) B. Olofinjana K Schrod (Appointed 19 April 2024) G D White (Appointed 1 September 2025)

The trustees may appoint any member of the school as a trustee of the charity and at any time. This is usually done to replace a vacancy but it can be done to add to the number of trustees. Trustees appointed in this manner shall retain this position only until the next Annual General Meeting, however at this point they shall be eligible for reelection.

None of the trustees has any beneficial interest in the company.

All new trustees must undergo a day of orientation in order to brief them on their legal obligation under both charity and company law, the content of the Memorandum and Articles of Association, the school and decision-making process, the future business plans and the financial performance of the charity

The day to day management of the school is delegated to the Headteacher; however, the decisions regarding the overall direction of the school are determined by the trustees. The trustees meet as a group to make decisions about the budget, the long term plans of the school and also monitor the information they receive with respect to performance.

Statement of trustees' responsibilities

The trustees, who are also the directors of St. Mary's Hare Park School for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

In preparing these financial statements, the trustees are required to:

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

Auditor

In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting.

Trustees' report and small companies exemption

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

..............................

F. Jones

Trustee

3/12/2025 Date: ......................

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST. MARY'S HARE PARK SCHOOL

Opinion

We have audited the financial statements of St. Mary's Hare Park School (the ‘charity’) for the year ended 31 August 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including 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 charity 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 trustees' 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 charity’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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST. MARY'S HARE PARK SCHOOL

Responsibilities of trustees

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

In preparing the accounts, the trustees are responsible for assessing the charity’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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which the audit was considered capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach was as follows:

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST. MARY'S HARE PARK SCHOOL

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

4/12/2025 TC Group ......................... Statutory Auditor 5th Floor 3 Dorset Rise London EC4Y 8EN

TC Group is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
2,310
-
Charitable activities
4
1,509,245
-
Other trading activities
5
68
-
Investments
6
30,439
-
Total income
1,542,062
-
Expenditure on:
Charitable activities
7
1,600,708
8
Net gains/(losses) on
investments
11
(25,000)
-
Net expenditure for the year/
Net movement in funds
(83,646)
(8)
Fund balances at 1
September 2023
542,287
408
Fund balances at 31
August 2024
458,641
400		 Total Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
2,310
952
-
1,509,245
1,338,582
-
68
576
-
30,439
16,027
-
1,542,062
1,356,137
-
1,600,716
1,688,919
156
(25,000)
25,000
-
(83,654)
(307,782)
(156)
542,695
850,069
564
459,041
542,287
408		 Total
2023
£
952
1,338,582
576
16,027
1,356,137
1,689,075
25,000
(307,938)
850,633
542,695

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2024

2024 2023
Notes £ £ £ £
Fixed assets
Property, plant and equipment 12 162,807 131,199
Investment properties 13 300,000 325,000
462,807 456,199
Current assets
Inventories 14 3,061 2,539
Trade and other receivables 15 54,830 52,492
Cash at bank and in hand 741,591 520,177
799,482 575,208
Current liabilities 16 (607,673) (225,092)
Net current assets 191,809 350,116
Total assets less current liabilities 654,616 806,315
Non-current liabilities 18 (195,575) (263,620)
Net assets 459,041 542,695
Income funds
Restricted funds 21 400 408
Unrestricted funds
Designated funds 22 419,173 424,656
General unrestricted funds 39,468 117,631
458,641 542,287
459,041 542,695

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 AUGUST 2024

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

3/12/2025

The financial statements were approved by the Trustees on .........................

..............................

K Schrod

Trustee

Company Registration No. 02203226

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
23
Investing activities
Purchase of property, plant and equipment
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(63,064)
30,439		 £
254,039
(32,625)
-
221,414
520,177
741,591		 2023
£
£
(271,735)
(17,926)
16,027
(1,899)
-
(273,634)
793,811
520,177

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

Charity information

St. Mary's Hare Park School is a private company limited by guarantee incorporated in England and Wales. The charity's principle address is St. Mary's Hare Park School, South Drive, Gidea Park, Romford, RM2 6HH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound sterling.

The accounts have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

School fees comprise fees receivable from school pupils including teaching fees, funding, school meals and wrap-around care. Nursery fees comprise fees receivable from nursery pupils, and other income includes music lesson charges and outings and activity income.

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Deferred income comprises school fees and meals paid in advance for future periods and is released to income in the period to which it relates.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Charitable expenditure comprises expenses incurred directly in pursuance of the advancement of the charity's principle charitable objectives and are accounted for on an accruals basis.

Resources expended that are attributable to more than one heading of expenditure are apportioned accordingly. The apportionment is based on an estimate of the resources expended in each area.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets 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:

School building Over the term of the lease of the school's premises Computer equipment Straight line over 3 years Fixtures, fittings & equipment Straight line over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at revalued amount where the impairment loss is a revaluation decrease.

1.9 Inventories

Inventories are stated at the lower of costs and the estimated net present value.

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.13 Retirement benefits

The charity operates a defined contribution pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

1.14 Interest free loans (Bond Scheme)

A Bond Scheme is used as a means of generating additional income by way of interest . A single payment equivalent to £500 (2023: £500) is required when the child commences school. This is an interest-free, unsecured loan redeemable when the child completes Year 6 (any refund before this age is at the discretion of the Board of Trustees). Accordingly, bonds in respect of children who have completed Year 5 in the year under review are treated as creditors due within one year, all other bonds are treated as creditors due after more than one year.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investment property valuations are considered to be a critical accounting estimate. The company holds an investment property at fair value, and the fair value is reviewed at the end of each accounting period by the Trustees, with reference to an independent estate agent's valuation, current market rental yields, market evidence of transactions relating to similar properties, as well as other factors such as any indication of impairment.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 2,310 952

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

Total 2023 £ 1,338,582
Other school income 2023 £ 15,759
Nursery school fees 2023 £ 56,963
School fees 2023 £ 1,265,860
Total 2024 £ 1,509,245
Other school income 2024 £ 14,815
Nursery school fees 2024 £ 18,413
School fees 2024 £ 1,476,017
Charitable activities Income within charitable activities
4

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

5 Other trading activities

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Commission and other trading activities 68 576

6 Investments

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Rental income 16,200 14,420
Interest receivable 14,239 1,607
30,439 16,027

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

Total 2023 £ 1,056,657 39,076 529,420 4,725 16,250 1,646,128 42,947 1,689,075 1,688,919 156 1,689,075
Support costs of schooling 2023 £ - 36,407 132,130 4,725 - 173,262 42,947 216,209 216,053 156 216,209
Premises costs 2023 £ - 2,669 397,290 - 16,250 416,209 - 416,209 416,209 - 416,209
Teaching 2023 £ 1,056,657 - - - - 1,056,657 - 1,056,657 1,056,657 - 1,056,657
Total 2024 £ 1,114,319 31,456 402,234 14,457 20,000 1,582,466 18,250 1,600,716 1,600,708 8 1,600,716
Support costs of schooling 2024 £ - 28,764 185,960 14,457 - 229,181 18,250 247,431 247,423 8 247,431
Premises costs 2024 £ - 2,692 216,274 - 20,000 238,966 - 238,966 238,966 - 238,966
Teaching 2024 £ 1,114,319 - - - - 1,114,319 - 1,114,319 1,114,319 - 1,114,319
Expenditure on charitable activities Direct costs Staff costs Depreciation and impairment General schooling costs Bursaries Operating lease rentals Share of support and governance costs (see note 8) Governance Analysis by fund Unrestricted funds Restricted funds
7

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

8 Support costs

Audit fees
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
-
14,150
-
4,100
-
18,250
-
18,250		 2024
£
14,150
4,100
18,250
18,250		 Support
costs
Governance
costs
£
£
-
13,200
-
29,747
-
42,947
-
42,947		 2023
£
13,200
29,747
42,947
42,947

Governance costs includes payments to the auditors of £14,000 (2023: £12,600) for audit fees.

9 Employees

The average monthly number of employees during the year was:

Teachers
Teaching assistants
Administration
Other
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£70,000 to £80,000		 2024
Number
15
17
5
6
43
2024
£
1,005,182
84,939
24,198
1,114,319
2024
Number
1		 2023
Number
13
19
4
4
40
2023
£
953,926
79,338
23,393
1,056,657
2023
Number
1

The employee whose emoluments exceed £60,000 had retirement benefits accruing under defined contribution pension schemes.

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

9 Employees (Continued)

Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2024 2023
£ £
Aggregate compensation 78,782 76,781

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Net gains/(losses) on investments

2024 2023
£ £
Gain/ (loss) on revaluation of investment properties (25,000) 25,000

12 Property, plant and equipment

School
building
Computer
equipment
Fixtures,
fittings &
equipment
£
£
£
Cost
At 1 September 2023
153,036
166,358
503,597
Additions
7,797
14,081
41,186
At 31 August 2024
160,833
180,439
544,783
Depreciation and impairment
At 1 September 2023
91,645
160,062
440,085
Depreciation charged in the year
2,692
5,234
23,530
At 31 August 2024
94,337
165,296
463,615
Carrying amount
At 31 August 2024
66,496
15,143
81,168
At 31 August 2023
61,391
6,296
63,512		 Total
£
822,991
63,064
886,055
691,792
31,456
723,248
162,807
131,199

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

13 Investment property

Investment property
Fair value
At 1 September 2023
Revaluation
At 31 August 2024		 2024
£
325,000
(25,000)
300,000

The investment property has been valued at 31 August 2024 by the trustees of the charitable company, with reference to an independent valuation.

14 Inventories

14
Inventories
Finished goods and goods for resale
15
Trade and other receivables
Amounts falling due within one year:
Trade receivables
Other receivables
Prepayments and accrued income
16
Current liabilities
Notes
Other taxation and social security
Deferred income
17
Trade payables
Other payables
Accruals		 2024
£
3,061
2024
£
32,487
9,253
13,090
54,830
2024
£
19,982
464,756
12,251
57,623
53,061
607,673		 2023
£
2,539
2023
£
15,380
-
37,112
52,492
2023
£
20,486
26,558
111,494
49,768
16,786
225,092

Current liabilities include deferred income, which is made up of school fees and school meals paid in advance.

Other payables include bonds repayable within 12 months of £48,280 (2023: £46,970).

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

17 Deferred income

2024 2023
£ £
School fees and meals paid in advance 464,756 26,558

Deferred income represents fees in advance for future academic terms or years, as well as prepaid school meals.

18 Non-current liabilities

Notes
Between two and five years
In over five years		 2024
£
171,075
24,500
195,575		 2023
£
220,120
43,500
263,620

Non-current liabilities are made up of bonds repayable.

19 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2024
£
52,138
37,988
-
90,126		 2023
£
37,920
21,195
1,531
60,646

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

20 Analysis of net assets between funds

Unrestricted Restricted Total Unrestricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Fund balances at 31 August 2024 are represented by:
Property, plant and
equipment 162,807 - 162,807 131,191 8 131,199
Investment properties 300,000 - 300,000 325,000 - 325,000
Current assets/(liabilities) 191,409 400 191,809 349,716 400 350,116
Long term liabilities (195,575) - (195,575) (263,620) - (263,620)
458,641 400 459,041 542,287 408 542,695

21 Restricted funds

The income funds of the charity include restricted funds comprising the following balances of donations and grants held on trust for specific purposes:

At 1 Resources At 31 August At 31 August
September expended 2024
2023
£ £ £
Portable hearing loop 400 - 400
Greenhouse 8 (8) -
408 (8) 400
Previous year: At 1 Resources At 31 August
September expended 2023
2022
£ £ £
Portable hearing loop 400 - 400
Greenhouse 164 (156) 8
564 (156) 408

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

22 Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Balance at Resources Balance at Resources Balance at
1 September expended 1 September expended 31 August
2022 2023 2024
£ £ £ £ £
Dilapidations 39,000 - 39,000 - 39,000
Property improvements 536,761 (179,939) 356,822 (5,483) 351,339
Garden maintenance 28,834 - 28,834 - 28,834
604,595 (179,939) 424,656 (5,483) 419,173

The trustees have set aside the above designated funds for specific purposes as indicated above.

23 Cash generated from operations

23 Cash generated from operations
2024 2023
£ £
Deficit for the year (83,654) (307,938)
Adjustments for:
Investment income recognised in statement of financial activities (30,439) (16,027)
Fair value gains and losses on investment properties 25,000 (25,000)
Depreciation and impairment of property, plant and equipment 31,456 39,076
Movements in working capital:
(Increase) in inventories (522) (307)
(Increase) in trade and other receivables (2,338) (11,791)
(Decrease)/increase in trade and other payables (123,662) 68,626
Increase/(decrease) in deferred income 438,198 (18,374)
Cash generated from/(absorbed by) operations 254,039 (271,735)
24 Analysis of changes in net funds
At 1 September Cash flows Other non-cash At 31 August
2023 changes 2024
£ £ £ £
Cash at bank and in hand 520,177 221,414 - 741,591
Bonds falling due within one year (46,970) 46,970 (48,280) (48,280)
Bonds falling due after more than one year (263,620) 19,765 48,280 (195,575)
209,587 288,149 - 497,736

Docusign Envelope ID: 80D6E789-2A21-446F-A8CA-83CF562CC83A

ST. MARY'S HARE PARK SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

25 Related party transactions

There were no disclosable related party transactions during the current or prior year.

26 Ultimate controlling party

The company is limited by guarantee and has no ultimate controlling party.