Charity registrstion numbèr 307001 cam￿nY r•gistr*tion number 00289787 (England and Wdes) BURGESS HILL SCHOOL FOR GIRLS COMPANY ANNUAL REPORT AND filNANCLIL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 BURGESS HILL SCHOOL FOR GIRLS COMPANY LEGALAND ADMtNISTRATIVE INFORMATION li Governors Dr. A.D. Smith M.B.CILB.. M.ILC.G.P (eI￿L[￿L0[1) Mr R B3rnwell Mr T Burnage Miss B Gavin Mrs W (Fibbs Mr R Hill Ms J Hunter Prof. P Marshall Dr E Ross Mrs V Watt Key management personnel MT5 H Cavauagh Ms R Flint baiss N Donson Mr l Reg8n-Smith Mrs S ColliLs MTS S Roberts Secretary MTS K Howson Charity number 307￿1 Company nurnber 00289787 Registered office Keymer Road Burgcss Hill West Sussex RH15 OEG Auditor Ricbard Place Dobson Services Limtted Ground Floor 1- 7 Station Road Crawley West Sussex RHIO IHT Bankers Barclays Bank plc Bar¢lays Business Banking Sussex & Gtttwiek Team PO Box 165 90 192 High Street Crdwley West Su&sex BX3 2BB BURGESS HILL SCHOOL FOR GIRLS COMPANY LEGALAND ADMINISTILITIVE INFORMATION Insuran￿ broker MaESh Education PtaGticc 4 Miltr)n Road H¢lyWdrds" Hlar%hip provision to maximise the co-eurricular opporLutiitieS aud monitoring of regulat pupil involvenwit impiuvillg its physical resources widening access furthcr througb the alloc￿lon of targeted bursari&4 increasitig partnerships with local primary and secondary schools Strategies to achieve the year's objectives Thc School is striving to improvc its cducation ptovision thtougb regular CPD uf Staff. aDnual deparrmentaI reviews. ongoing pgrade of its IT facilities, and target-scttin(F in order to bc able to benchmark academic standards against extcrnal public examinations and independent value-added critrria. Burgess Hill Girls will continue to purslle its holistic education with a h¢￿thY balaD￿C bctwetii it's aiddriJJiL, PdS'lurd] Lu-Cu￿1cUla[ offering. In addirioo the Scbool WTII look to explore the best ways to collaborate with the wider community including local state primary and secondary sdtooL8. Uver the yeJJ there have been a number ot"m)provements and refiubishments to the SchiM)I's infrasknjcture. the more signifi&qnt of these being a llew roof and solar pv Installation on Cedar tA)dge, new LED floodlights oll the single cour4 tk IrpldLriiiriiL CCTV byb￿[11 t￿¢] a ll¥w kitchcn in th¢ Nursery. page I BURGESS HILL SCHOOL FOR GIRLS COMPANY GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEIR ENDED 31 JULY2024 Piillcipal activities of the year The School is a day and boarding sehool providing independent edue2tion to girls from the ages of 2.5-18 ye2rg. The Sehool piuvid¥s ¥duLdiiuTI Ivi buth iyjys ¢ttid ¥ii1s ii¥rd 2.i4 iii Llir Nwsriy. 111 2023-24 dir Sihwl lik￿ 442 (2022-23. 472) pupil) uii roll with some yeat groups being fijll. The School has maintained consisi¢nt admissions criteria and the Governors are pleased with the hisb stall¢]ards and Contitiued achievements forwhich the School has become known. Grant-making policy The School operates a fonnal application wocess for Scholarships in fhe Senior School. Some acodemic scholarships are llded for the Prep School. The Scbool's policy, in line with that of other IrLdependent Schools, is to make tb￿ awards on the basis of tbc individual's ¢du&%tional pot¢lltiAI. subj¢¢t to the particulat coJJditioDs imposed by th¢ rnigillal dollor wh¢re the award is out of a restricted fund. A¢2demic, Music, SporL Art and Drama Scholarship5 aTC offert with day fcc remission at a f]xcd valuc, dcpendent on the pupil's ability, for enty tnto Year 7 (1 i+), Year 9 (13+) and into the Sixth Fornj (16+). The school offers TneAns-tested bursaries to suitable applic2nts in the Setyior Sch(￿1 only from unrestricted fimds. wlLere the w>licy is to relieve ILar(Ls])ip where the pupil's education and firture prospects wijuid otherwise be at tisL Awards call be as high as IIM)Q/o of fees in exceptsonal cases. Public Benefit Activities Burgess Hill Girls is actively itivolved in I￿1. national 2nd international communiti&s with charitable work It is the GovernoTS' belief that this work benefits thc public in the following arc8s: Areas that are of indirect benefjl to the t)ational and lolxl communities Areas that are of diJ¢¢t b¢u¢fit to th¢ local community Areas thai offer direct benefit to the international commuDity The remainder of this rqkn is sttucttwed to demonstrdte how the School provides public benefit in those three areas. Indireet benefit to the ngtioD41 and loc41 commullitles The School believes that the provision of education (the Schi)01'5 Clwitsble Objective) is, in itself, of benefIt to the publi4 as it provides well cducatrd and self-¢onfidenÈ people ready to ¢ontribute positively to society generally. Spectfically, Burgess Hill Girls, in this reporting year, bas educated 442 pupils on a fee paying basis. This has provided an indirect benefit to the IAK Education Authority equivalellt to the costs of educating those chilthen. page 2 BURGESS HILL SCHOOL FOR GIRLS COMPANY COVERNORSI REPORT (INCLUDINC DIRECTORS, ￿PORT) (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 Direct henefit tn thp nAtion91 And local eommunities The Governors believe thai the School is seen by Ihe local community as an irnportallt asset to Burgess Hill. On a day to day operatinnal levp.I thp. qchool works to develop links with local maintained sector schools to kn, where possiblc, rcsourccs. Th¢ School also works With and dcv¢lop5 opw>iILkuiiio wi￿11￿ thc l(K&l c()ll]muniry to l)oth widen access 10 pupils aud to allow the local community to beneht trom a number of activities alld facilities avatiable at the School. These activitle.S Are., And miist he.. in linp. with the schl￿1's eharitable objectsve. ExaD]pLes of public b¢nefit activiti￿ that of dircct bcncfit to thc local ¢ommunity are.. Activi Benefit to Public Transfer of skills to the maintained sector. Several teachers are governors at local maintained pri schools. Link to Burgess Hill Help Point to make School even (plkys, concerts eic.) avAilabl¢ w Burtsess Hill citizens at n COSL Entertaining the wider community. Annual Cknristmas Paty for elderly residents. Summer Gardcn Pary for elderly residents. Widening ictess to chil(tren from families who would no otherwAse be abltt to afford independent education. In doing s is reduccs the burden on maintsined sector schools. Sinc 2004 the School's comrnitment to this area has increased fro £13,000 to over £380,000 in 2023-24. Provide facilities for external competitors. These, and many others like them, demonstrate the School's willinoness (o widen access to irs facilities. Transfer of skills ro the ￿￿]ntaIned sector. Provision of Means Tested Bursaries widely adverttsed on the School Websitc, in the ProsFKCtus and at events held in local maintained sector schools. Host Local Netball tournament. The loan of ￿l￿1bUSeS iu IuLal schools and youth groups. Supp()rt teachcr training iD th¢ Prcp Sch(K)l in PaTth¢T5hi with Brighton University. Careers. (Jays for girls from local rnaintained sector schools. The School organiscs 41 fdllge of careers events for students througbout the sch￿1. The Tomorrow's Won)en conference rLm y ow Lower Sixth for internal and external students in yeEJr aEM)vc provides valuable career inforniation portunities. BIIG sup￿)rting the local COll￿￿nity. HG suppk)rting local cbarities. Supporting the local community by hiriug facilities for publi¢ such as tILe locaI njnni clublfitness grou Siipport witb trainee teacher rec￿lI￿ent 2nd training through hton University. BHG supporting the local community and National charities such as Children In Need. BHG supporting the local communiry. Musical events for a range of l(ul ¢ommunity orgatiisati and clwities. Gifts for the elderly & animal.sheltrrs. Hire of faeilities. Provision of teaching staff to undertake inspection and teacher training placements. Chan"ty Fundrxising. Harvest Festival contributions to Burgess Hill Food BaDL Crawley Open House. Christmas gifts to the Salvation Arni and local care homcs. The Head liaises with sch(K>ls in the comvnunity, includin seeond2ry schools in the maintained sector. The PUTPOSC O SS IS fo Organise events aDd support the children and staff ' all local schools. Event£ are organised to support Icarning. provide facilities an evcDts that othcr schools would not be able to provid¢ themselves, for example.. l j.oeal netball tO￿a￿ellt 2. Debating competitions aud W0￿S.h0ps J. Makmg the right University choices 4. Rotary Public Speaking competitio 5. Dratlld" Production o por(unities Prijvide. fxeilitip.* fThr *.Yternal orggnisatiottg. Hosting of Mid Sussex Duke of Edinburgh open awar centre. BURGESS HILL SCHOOL FOR GlllLS COMPANY GOVERNORS, REPORT (INCLUDING DIREI CTORS, R￿PoRT} (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 This list of actt"vitt"es demonstrates the SelKK)I's to ￿Volve itselfr" at the heart of its lo￿ eommutiity and with maintained sector schools. Wider Community Burgess Hill Girls actively engages with tbe I￿￿] business eommunity to widen tbe. wrls. knnwl2Agp. nf rnmmp.rrTr.. Vixit.s rvriiib ljeld to etidorse thcse lii]k5. CatCU5 days and ll¢tworkin8 cvcttts hre focused on providing an opportunity for gir15 to see achievinR women m the workplace. Burgess Hill Girls is in partnership with local wim2ry and secondary SCh￿IS and delivers outreach prOj￿ts and initiatives as well as hosting several events on an annual basis. These opportllnitiLs intlllde invitati(Ins ts) pupils fr()m l(Jcal schools to attend sporting events and music and drama workshops including Choral Days, s￿rtIng Mastcrclasscs and tournamcnts, careers, university and Uxbridge initiatives. as well &s openillg up our facilitics to Ii)cal schools, societies ano clubs within the community. Burgess Hill Girls frequently iDVites the wideT lod eA)nllnunity in to the Sch(￿1 for a variety of specific events, all of uthich colltribute to providiog a balanced all round education foi our girls. Specific cvcnts includc a Carers, Day. scv¢ral S¢nior Citizen functions including a Tea Party with entertainment by the gjrls. Musical Concerts and Drdma productions. The Governors are continually reviewing the way in wbich the SC]K￿l provides public benefit and strive to improve it. This can be evidenced by th¢ increase in the Wdlue of means tested bulsaries that the Sch￿1 h&s offered over the last few yea￿. Dlrect benefit to the Internationa] CoJJJmunKty Thc School has provided fillly fijnded day pl&ces to three refugee children from the on-going waT in UkJ22ne. The girls joined the School in June 2022 alld quickly settled ill￿ the Sch(N)l. One swdent has now completed Sixth Forni and the two remaining gixls have just moved into Year 8. The Sdhcrf)I h&s received some monetary &ssistance from both West Sussex Council and IAPS to support thexr cducation. SUMMARY The Governors have paid due regard to the guid2nce by the cR￿lty C4)mnllssion in deciding what activities the School should undcrtak¢. The Govemors believe that thc activitics r¢port¢d Above demonstrate a sigllificAttt eommitttlent (both fillanci￿ and non-financiat) to the illtenMtional. national. and IOCAI communities thus meeting the objective in the School's Strategic Plan arld clearly providing a significant level of benelit to the public. This commitrnent is c]witable withill the School's C]witablc Objectives. page 4 BURGESS HILL SCHOOL FOR GIRLS COMPANY COVERNORS, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2U24 STRATF.f.JC RF.POTtr Operatioual vl Sch(Kbl The School underwent 2n ISI inspection in Febw 2023 Fthcrc it W&8 judsed Exccllcnt in all catcgoiies. Wob clr r¥Lugniiioll of the high academic aehievemenls as well &$ Ibe School's focus on a uenume holistic education. The col 5 July 2024) (Apw>inted 18 Morch 2024) (Resign￿1 4 De¢ember 2023) page 6 BURGESS HILL SCHOOL FOR GIRLS COMPANY GOVERNORS, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR 51 JIJI.Y2024 Coverning body The Governors are also Tequired under the Articleq tn sp.rve. as memberg of the Compgny. The detAils of the Governing Body are explained below, together information on h¢)w th¢ mcmbcT5 of die Govullitsg B￿Y appo]ll￿d (u office. Recruitment and training of Covernors The Board reviewed the policy on Tbe RecrnitmenUSelecttonlRLqign2lT(m thf eTnvprnors' 91 their meeting in 2019. The Governors review the constttution of the Board on an annual basis and consider. The average number of Governors present at meetitigs The skills an￿0[ expericnce that would h&LVC added to discussion 'I'he imminent retirements from the Board The full Board of Governors identifiLq the skills andlor experience required to complement discussions And the Board, Head and Bursar consider the eligibility. persoual competence and Loeaj availabiIity of suitablc individuats to be put forward fot ¢onsidcration. The Chairn)an of tbe Nominations Comll2ittee invites suitable illdividuals to tour the SchiK)l. meet the Head alld two Governors and dist￿q8 with them the reswDsibilities alld cotnmittnezlt to the SclLooI expected of the role. The applicants are given the AGBIS 'Guidelines for Govcrnors,. CC3 The Ess¢ntial Tnts: WhaL yuu nccd to knov/. a Sch(K)I Prospec￿ and a copy of the expected duties. Following election to the Boarl the BuTsar alld Clerk to the Govcrnors c0nflln￿ the appointment in ￿ltIng and processes the administration in relation to Company and Clwity membership and directorship. New Governors ar¢ encouraged to &ttetLd AGBIS and other s￿Illars relevant to Governors and als'u to spend time in the School with members of the Senior Leadership TeaTn. I'he Board ot (Tovernors recognises the need to provide a continuillg prO￿amMe ofGovernor training. Organisational Managetnent The Dircctors meet as a Board of Governors at least three limes a year to detcrnllne the genernl policy of the Company and Teview its overall mallagement and control for which they are legally rtsw)nsible. The Board has delegated respollsibility for certain p¢rsonTtel, finallcial and general management dccisions to a Resources Committc4 a Joint Educational Cointllitte4 a Nominations Committee and a Welfare and Boarding C4)mmittee to which it elects Mellthers from ajnong its nll￿ber. Each Committee meets up to thTeC titnes a year. prior to each Board Meeting. Sub-Groups are established Ls and when required to report to the Board on specific matters. The day to d&y manig¢ment of the School is delegat￿ to the Head and thc Bursar supported by thcit Senior [￿ershIp TeanL The Hea￿ Bursar and other staff &8 required to attend meetings of the above Committecs. The remuneration of key management persoDllel is set by the Boar￿ wÈth the policy objective of providing appropriate incentives to encniira8e eTrbanced performance a￿d of rewardillg them fairly and responsibly for their individual contributions to the School's succc&8. The appropriat¢ness and rclcvancc of the Temuncrdtion policy is Teviewcd aDttually. including re[c￿llce to comparisons with other independent schools to ensure that the S'cbool rcmaiDS sensttive to the broader issues of pay and etrlployment conditions elsewhere. The School aims to reeTlli¢ subject to eXt￿le￿Ce. at the lower to medium point withtn 8 b8ol providing scope for rewarding ex¢¢llettce. Dclivcry of the School's ch&ritsble vision and pwwse is PE1￿￿￿1[Y dq)cndent on our key monagement personnel and staff costs 2re the largest smgle element ot our chan"table expenditu paRe 7 BURGESS HILL SCHOOL FOR GIRLS COMPANY GOVERNORS. REPORT (INCLUDtNG DIRE, CTORS, PORT) (CONTINUE, D) FOR THE YEAR ENDED 31 JtlLY21124 Group Structure and Relationships Burgess Hill School for Girls Company Ims one wholly owoed nottdaritable gthsidi9ry. Offlerni Limited. whose. aelivities itrs as to how they may be used. The purposes alld uses of the restricted fi]nds are set out in the notes to the financial statements. IA Income Fees Teceivabl¢ and charges for serviees, Iw aIlowance4 scholarships aTtd bursaries ￿ted by th¢ School against those fees are accounted for in the penod which the seryice is provid￿ Wher¢ fccs are received tor a fiItUTC scrvicc period they are includcd in deferred income. including those fees received under An advance fee payment $chemc. InvcstElleni income is acCoull￿d for on an accDJals basis. Donations, legacies, grants and other volun14ry income are accounted for as and when entitlement arises. the amount can rellably m￿s￿red and the economic benefit is consRdeTed probable. Where a donor or an appeal h&8 i￿posed restrictions th¢ incomc is credited to a restricted fuoll IKttiiigs iiiwiEir ib Lh¥ ¢￿￿ou￿t daivcd from letting the Burgess Hill School premises falling within the company's ordinary acts"vities. rental incornc is recognised on an aC¢nTals basis. page A7 BURGESS HILL SCHOOL FOR GIRLS COMPANY NOTES TO THE FINANCIAL STAT￿￿Nrs (CONTINUE, D) FOR THE YEAR ENDED 31 JULY2024 Accountin2 pO￿.eleS {Coniinued) 1.5 EipendihJre ExpwLdiiutr irLU8lltbrd ullcr is a legal or constructiv¢ oblig&tion to traD3fer eCono￿[C bencfit to a tIiiFd paty, it 15 probable that a transfer of economic benefits will be reQU￿ed in settlemenL and the amount ot" the obliRation can be m&9sured reliably. Expenditure ig accounted for on an accDJals basis with irrecoverable VAT included with the item to wbich li rela￿5. Expendibjre is cl&gsifAed by activity. The costs of each ￿tivity xr¢ made up of the total of direct costs aLd slwed costs, including support costs tnvolved in undertaking each activity. Direct costs attributable to a single activity are allocated dircctly to that activity. Shared costs which contrl)ute to more than one activity support costs which are not attributable to a single activity are 8ptN)rthoned between those activities on a b&sis consistent with the use of resources. Central staff costs are allocated oll the basis of time speni and depreciation charges are allocated oll the portion of the asset's use. Rethmdallcy and tern]l￿tion payments are cbarged to the Statement of Financial Activities on an accru3]s basis. Governa[￿ costs include those costs associated with meeling the cotLstitiJtAonal aod stathtory requirements of the charity and include the audit fees #nd COSLS Iinked to the strategtc management of the clwity. All costs are allocated between expenditure eategoTies alld depa￿ts on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly. 1.6 Tallgible fixed assets T&Tkgible f￿ed assets are initially measured at cost and subsequently rneasu￿ at cost or Va]uatiO￿ net of depreciation and any impaim]ent losses. DepreciatioD is recognised so as to write off the cost or valuation of assets less their residual values over their useful h.ves oll the fottoilryng bases: Freehold land aud buildings 20/0 on cost of completed buildings 15ts/0 011 Cost of temporary buildings 200A on cost 1250A reducing batance 2￿/• on cosr 125 /0 rethicing balance I￿1• On Cost 2￿/fj on cost Plant and equipment Fixtures 8nd fittings Computers Motor vehicles The gain or loss arising on the disposal of an asset is deterniin¢d as the difference between the sale proc¢¢ds and the eanyittg value of the assel and is recogtllsed in the stateD￿l of fu￿¢1￿1 activities. Projects totalling le&s thall £2,500 and the nMjority of inforniation technology equipment A￿ written off as expense as acquired. Tbc Govcrnors arc satisficd thlli thc morket valu¢ of the freehold laud ond buildings is in ex¢ess of th¢ value at whi¢b they are stated in these financial statements. 1.7 FiJed as$ct investments Investments in subsidiatics arc mc&wrcd ￿ CO￿ and revi¢w¢d 2mnwlly for impaiTm¢nL 1.8 1iuyaKrllielll or rlxed assets At eich reporfing eud date. thp. fhAritAblp. r.nmp2ny re.Trrie.w£ thp flTryinv xmniinl.q nf it.q tangrihlp. x.q£e.t_q tn hp.tprniinp. whcthcr thtrc is any indication that thosc asscts hav¢ suff¢ra an Émpairmcnt loss. If any such indicati<)n cxists, thc recoverable amount ot.the wet is ethnjated m order lo detern￿e the extent ot.the mipaument loss {It"anyl. page 18 BURGESS HILL SCHOOL FOR GIRLS COMPANY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAK 51 JUL Y21124 Actvulllill¥ pulilie (Lontinued) 1.9 Stocks Stoeks ELrc st2tcd at thc lowcr of cost and tsttll￿ta selling pLice Irbb Wsls iu LUtnplcLe dnd sell. C05[ comprises dlreci maierials 2n( where applicable, d￿ect labour costs and those overheads that have been inCu￿e￿ in bringing the %t()ck% ta the.ir pre.gp.nt lor9tion and conditioj). Items held for d1stn￿UtIOll at no or nominaI consideration are meosurcd thc lowcr of r￿lacement cost and cosL Net realisable value fts the vstimatcd sclling Price less ail estimated costs of completion and costs to be incurred in market]llg. selling and distributio 1.10 Cash and cash equivglents Cash and casb equiv2tcnts include c&sh in hall￿ dcp05its held at ￿1 wirh banks. other sbort-tenn liquid investments with original maturities of tbree months or le￿. and bank overthafL8. Bank overdtafts are shown within IKI￿OW1ngS in current liabilities. 1.11 Finan¢iAI instrwnents 'rhe LI￿n"t￿ble comp2ny has elected to apply the provisions of Section I I 'Basic Financial Instsijments, and Section 12 'Other Finalleial tnstruments Issu&s' of FRS 102 to all of its finA￿la1 inslrutnents. Financial instrnments are recognised An the Charitable compan￿$ balance sheet when the Cl)aritxhlt eomp8Dy becomes paty to tbe Contractual provisions of tbe i￿tD]menL Fillancial assets alld liabilities ate offsel with the net amounts presentrd in the finarLml ststeTr]ents, when there is a l¢gally enforceable rkght to set off the recogllis¢d amounts and tlwe is an intention to settle on a net basis OT to realise the asset and settle the liability simu]tsneously. Basicfin4ncial assels Basic fmancial assets, which include debtors and cash alld bank balanccs. are initially mca5ured at transaction price iIILluding tr&￿actIOn COSLS and are subsequently carried at amorttsed cost using the effective interest method un]ess the a￿gement constitutes a financtng transaction. where the tranS￿tIOn is measured at the present value of the future receipts dis¢oullted at a market ratc of inter&sL Finattci￿ assets classified as receivablc within one year arc not amortis￿. DerecogniÉion oJfinancial ￿Sets Financial assets are derecognised 0￿Y wben the contractua] rights to the eLqh flows from the asset expire OT are settte(I or when the Charitable Company transfers the financial asset and substantially all thc risks and rewards of ownership to another ¥nLity, or if some significani risks and Tewards of ownership are retained but control of the &sset has transferred to another party that is able to sell the &sset in its entirety to an Unrelated third PArty. Basicfinancial liabiiili Basic financial liabilities. iti¢ludin¥ crcditOTS and baDk loans are illitially recognised at transaction price ullle8s the arrangement conSti￿t&S 2 financing transactioffj where the debt instnllne¥]t is mcasured at the present value of the future payments discounted ￿ a market ra* of inte￿sL Fin2llciAI liabilities clwified as payablc V*ithiti one ycar arc not a￿ortise(L Debt instruments are subs¢quently ￿?￿led at tytsortised eos4 USiD8 thc ¢ff¢¢tivc intcrcst rat¢ mctho Trade Creditors are obligaiions to pay for goimts or 8ervi￿s that have been acquired in the ordinary course of operatLons fron) suppliers. Amounts payable are cl&ssificd os current liabilities if payment is due within one year or less. Ifnut, thcy ar¥ wesenied as non-curreni liabililles. Trade ereth.tors are reCOgn￿ed itl[t￿l1Y at trJnsactton price and subsequently measured at amortistd iIqing the pffftetiv&. IDteTest methd. FiIi5. This, together with diKuments issued by the pensions Regulator and Technical Acttwial Standards issued by the Financial Reporting Council, set out the framewo￿ for funding defined benefit occupation21 pen%in schemes in the UL The scheme is cl&ssified as a 'kst-nwi stsnditig arrdDgemen¢. Therefore the School iq ￿)tentiallY lisble for other participatiDg employers, obligations if those employers are unable to Enert thcir slwc of th¢ scheme deficit followiug thdrawal from the scheme. Participaiing employers are legally required to meet their share of the scheme deficit on annuity purclwe basis on witbdrawal fro￿ the scheme. A full actuarial vaIuation for the scheme was carried out as at 30 September 2020. This valuation showed assets of £800.3nL liabilities of £811.9m and a deficit of £31.6m. To elirutnate this funding shortfalL the Tn￿tte l]3s asked the participating employers to pay additional contributions to the scheme as follows: Deficit conthTr)utiot From l April 2022 to 31 Jgnuary 2025: £3J12,(IIM) per annum (payable mollthty) Unlcss a cont¢ssion has bccn agrc£d with the Tn￿ the tenn to 31 January 2025 applic5. The recovery plan contributions are Allocated to each participating employer in line with their estimated share of the S￿1￿5 Il￿d SEEI￿ 2 SLhcme li*ibiliti¢s. Where the scheme is in deficit and where the company has to a deficit fill￿ing arrdngemenL the company recognises a liability for this obligation. The amount recognised is the net prcseDt vallle of the deficit reduction contributions payable under the agrcemcnt that relates to the deficit. The prtsynt value is calculated using tbe discount rate detsiled below. The unwinding of the discoullt rdte is recognised as a fmanc¢ cosL Assumptions RAte of discount /a per 2nniIm 31 July 2024 523 31 July 2023 5.98 11 .Tiily 2n?.2 1.15 tw8p 3? BURGESS HILL SCHOOL FOR GlllLS COMPAJYY NOTES TO THE FINANCIAL STATEMENTS (col￿NUED) FOR THE YEAR E]VDED 51 JUL Y2024 30 PriiJivEE CvmtllA(Jlleuts In accordance with FRS 102. the net wesent va]ue ol the ag￿ed dehcit lundin% arrangement is reco_onised within creditnrs in the finxneiAI qtAtpmpnts. DiiTing the year. deficit payments of £13,001 (￿￿23.. £1? 797) were made and contributions of £198,483 {2023: £151,680) wcrc D]adc to die plau. Ai Llir bÉ1￿lL¥ sli(xL (tdtr, the dcficii reduction plan liability was £2,974 (2023: L8.656) and bnil (2023: £mll w&$ pre￿d in respect of overpaid pension scheme Costs. Rc-mcasur¢mcnt of thc schcme totaling £4 (202J: £166) w&s dLUiIi¥ thr yrat. The School has been notified by The Pensio￿ Tr￿ of th¢ estimated employer d¢bt on withdrawal from th¢ Plan based on the financial position of the Plall as at 30 S¢ptember 2016. As uf this datc, the estirna￿d employer debt for the School was £473,622 {also disclosed in the 2016 accounts). This is the latest infornmtion available to the School at the titne of appmwing these f￿ancial statemenLS. Provision h&s been made for the value of The Recovery Plan a￿d deficit contributions in the accounts. Th¢ School aLso cotttributes Lv d¢fincd contribution schemes on bebxlf of its other staff. Employer contributions payable to these schemes were £41296 (2023.. £63.693) and at the year end £1.704 (2023: £9289) w&s accnled in respect of Colltributions due to these scheme 31 Cash generated from oper2tion$ 2024 2023 SU￿lus for the yegr 478.076 324,441 AdjusttnenÉs for. Investmen( income recogDised in statemeni of fllW)cial activiti&s Gtin on disposal of t2ngible fixed assets Fatr value gains alld losses on investments Depreciation Alld impairnient of tangible fixed assets Difference between pension charge and c&sh contributions (119,514) (34,800) (67,007) {21,800) 16,220 279,273 (5,656) 397,409 (2.650) Movements in working ￿pItal. (Incre&se) in sto¢ks (Incre&5e) in debto Incrcase in creditors (714) (84,779) 426.546 (730) (140.293) 397.541 Cash generated from operatiolls 1.059,574 781.989 32 Analysis nf ehanges in net ￿ndS At l Avgnst 2023 Cash flows At31 July 2014 Cash at bank aud in hand 1.828.134 645,597 2.473,731 Oblig￿lOnS under finance leases (236.667) 109.940 (126.727) 1,591.467 75_5.-537 2.147.nn4 Page 33