Charity Registration No. 307005 Company Registration No. 01078648 (England and Wales) NORTHEASE MANOR SCHOOL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 BUSINESS ADVISORS & AecovNTANTS One Bell Lane Lewes East Su55ex BN7 IJU
NORTHEASE MANOR SCHOOL LIMITED CONTENTS Page Company informatr'on Governors, report Statement of Governors, responsibilities Independent auditor's report 10-13 Statement of fi'nancial activities 14-15 Balance sheet 16 Statement of cash flows 17 Notes to the financial statements 18-36
NORTHEASE MANOR SCHOOL LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Governors Mrs J Toben MIOD, MCIOF (Chairl Mr D Carpenter (Vice Chairl Ms P Field Mr R Kantaria (Appointed 25 June 20241 (Appointed 25 June 20241 Mr N Stanley Mrs M Stebbing (Appointed 3 Ortober 20241 Headteacher Mrs C5tamos Charity number 307005 Company number 01078648 Registered office Newhaven Road Rodmell Lewe5 East Sussex BN7 3EY Auditor TC Group One Bell Lane Lewes East Sussex BN7 IJU Bankers Lloyds Bank PIC 8 High Street Lewe5 East Sussex BN7 2AD Charity Bank Limited Fosse House 182 High Street TonbridEe Kent TN9 IBE Solicitors Sherrards Employment Law Solicitors 4 Albourne Court Henfield Road Albourne West Sussex BN6 9FF
NORTHEASE MANOR SCHOOL LIMITED GOVERNORS, REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR EAIDED 31 AUGUST 2024 The Governors present their annual report and financial statements for the year ended 31 August 2024. The linancial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charitable company's governing document, the Companies Act 2006 and Accounb"ng and Reporting by Charities-. Statement of Recommended Practt'ce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Objectives and Activities The objects are Set out in the Memorandum of A550ciation as being the promotion and provision of facilities for the advancement of education. Northease Manor School (Northeasel is for students aged between 7 and 19 who have special educational needs and disabilitie5 ISENDI. It remains the policy of the Governors that Northease should conb.nue to be a centre of excellence for the education of neurodivergent young people. We aim to provido an outstanding oducational environment that restores and increases young peoplos, solf- esteem and educates the whole child, so that each young person has the tools they need to overcome the societal barriers and attitudes to their specifi'c learning support need. The school has a clear and focused objectr've to become a leading school in its fi.eld. We promote the academic, moral, and physical development of our students through our academic curriculum, pastoral, and therapeutic care, sporknng, and other actr'vities. The Governors havo read the Charity Commi55ion's guidance on public benefit, and the specilic guidance for charities whose object5 include education. The Governors have paid due regard to the Commission'5 guidance, and all who make decisions about the acb'vib'e5 the Charity undortake5 are Eoncerned to ensure that a roal educab.onal benefit is provided to a broad range of students. The Governors consider that the achievements and performance of the charity demonstrate success in this regard. Governors keep under review the structure of the school to ensure that we meet the required standard5 for the CLJrriculum. From the start of the Academic year 2019120 tho school ceased to provide boarding, focusing resources on day students, and expanding our sixth form provision. School Values and Position The school has evolved to reflect those needs and aspirations that are sought after by parents, carers and Students. The School 15 focuses on neurodivergent needs including speech, language and communication diffi'cultr'es, aub.sm spectrum condition IASCI, dyslexia and other processing, Sensory and cognitive delay5. The School's aim is to 'make the difference,. We achieve thi5 by.. Combining specialist expertise with pa55ion and freedom Delivering impartFul outcomes for our students and all those who have touched their lives RÈcogni5ing and valuing difference Building confi"dence, character, and capability to realise students, potential Clear expectab.ons of the school community'5 attitudes and behaviours are Set out in our school values- Kindness Safety Effort Attendance
NORTHEASE MANOR SCHOOL LIMITED GOVERNORS, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Key Objectives The school has a clear vision to become the leading special educational need5 provider,. equipping students with the skills. attitudes, behaviours, and opportunities to flourish. We aim to achieve this by.. Being committed to educational excellence Providing a personali5ed education through individualised solutions Overcoming challenges with resilience and confidence Supporting students academically and pastorally to achieve potential The school's strategy is based on delivery in 6 strategic pillars-. NurturinE our community Creating collaborative excellence Growing our people Strengthening our partnerships Driving operational simplicity Sustaining strong governance and f>nancial resilience Ethos Northea5e is a charity benefiting neurodivergent children and young people who have not flourished in other setlings. The school's fee5 are inclusive of all therapies, and it has a commitment to continue worknng with local authorities and parents and carers to provide an education that meets the needs of its young people. The school celebrates students of all backgrounds and prides itself on it5 approach to equalities, diversity and inclusion which is embedded in the curriculum and school's culture. The safeguarding practice in the school has been commended recently by ISI and the school continues to work with all agencies in relation to keeping children safe. The behaviour of students at Northease is good, reflecting the approach the school has in addressing behaviour based on individual need. The pastoral care allows students and staff to work in a safe environment so that students achieve academically, emotionally, and socplly. many of our students have communication needs and the school is committed to instilling the life skills and preparation for adulthood required for students to contribute effettively to their communitie5 and society in general. Northea5e believes in equality of opportunity and is committed to the development of staff in line with it5 key objectives. At the school's core is a culture which genuinely celebrates diversity and champion5 inclusion. These are more than just word5 for u5,. they are the har&and-fast principles guiding how we build our teams, cultivate leaders, and create a community that is the right fit for every person inside of it.
NORTHEASE MANOR SCHOOL LIMITED GOVERNORS, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Curriculum The curriculum is inclusive for all students. No students are restricted from entoring any route of study and as such all have a balanced curriculum that meets thoir academic, social, and emotional needs. The school offers a curriculum in line with the maintained sector and in addition has subjects such as Horticulture, Duke of Edinburgh, Engineering, lifo courses such as 'ASDAN', PSHE as a distinrt class for all students, and a full enrichment programme. We also have a 'Preparation for Adulthood, class in each year group that includes Searning how to do the day-to-day tasks, including travel into the community, that many neurotypical people can take for granted. The social aspect of learning is key for our studonts and this preparation for independence beyond Northease is essential. The school has ir)tegrated therapies as part of its local offer and students benefi't from education staff who have been trained in practt.cal aspects of Speech and Language Therapy and Occupational Therapy. The thera py team at Northease work with their teacher colleagues in partnership so that all students, needs are at the forefront of what the school does. We are able to offer P. E. classes, as well as sporting enrichments to all of our students as well as Sports Studies and Sports Leadership for GCSE. The Arts are exceptionally popular at Northease,. nourodivergent children and young people can often excel in these areas. The school offers GCSE, and skills-based classes to all students and achieves excellent results. The school also runs Project Northease, an arts-ba5ed Enterprise Project solely to promote the artistic achievement5 of our students. The end of year art, photography and textr'les show is always commended by parents, carers and visitors. Achievements and performance GCSE results achieved by the students are, on average, more than one grade higher than predicted across all subjects. The school accommodates for the academic needs of its students and uses standardised tests to predict grades. Student needs are not just measured through academic attainment at Northease, rather the whole needs of the child are developed through the nurturing, supportive nature of classes, therapies and pastoral care. Inspection The school was inspected by the Independent Schools Inspectorate IISII in February 2022 and March 2023. The school was found to bo fully compliant in all areas on both occasion5, Wlth no actr.on points or reccmmendations. A further Local Authority safeguarding inspection took place in March 2024 which a150 did not raise any concerns. Community The School is now developing links Wlth local schools and businesses. The school development plan has a focus on engagement for students and with the community as well as centring our focus on the target5 for each student in their EHCP. Northease hosts new-parent coffee mornings, training opportunities provided by the in-house therapy team, as well as Parent Evenings, a 6th form Open House, Preparatr'on for Exams, and an Optrons Evening for those who require planning preparation and an Open Morning for professionals and prospective families. Parents and carers are welcomed on site to meet with teacher5, therapists and the senior leadership team whenever they need a5 we maintain an open-door policy. Within the wider community the school is developing links with similar Schools and is conductr.ng and hosting visits to share current practicp and provide a network of support.
NORTHEA5E MANOR SCHOOL LIMITED GOVERNORS, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 Financial vIeW The school's financial performance 15 linked to several factor5, the most significant being student number5. The school has Successfully reversed an adverse position where student numbers had fallen to below 60. The combination of two recent ISI inspection that met all compliance requirement5, and the support we hwe received from our principle Local Authority partners (East Sussex CC, West Sussex CC and Brighton and Hove CCI has seen student numbers increase year on year. The School started 2023124 with 107 students with more joining 'in year,. Historically, low student numbers and a series of unexpected Significant costs, left the school running at seriou5 deficit for a number of years. Increasing student numbers, negotiating an increased fee level with all local authorities over a three-year plan, and the improved oversight through the Finance and Estates Committee has had a Significant and positive impatt and provided a robust platform for the long-term sustainability of the school. The Governors approved a set of financial golden rules to ensure we have sufficient liquidity to cOr our regular commitments; that we maintain active oversight of our loan portFolio and start to build reserves from 2021122 onwards. The year ended with a surplus of £297,827. Works and investment5 that were due to be carried in the summer were delayed and therefore. the planned expenditure not made, resulting in the increased unplanned rplUS. Major building works that were delayed have beEun in 2024 with the demolition of the temporary block at the rear of the school after failed attempts to renew the temporary planning permission. Additional classroom spaces have been created within existing building5 as a result. Additionally. stage two of the chimney resloration project has taken place. Further works to improve the provision of the school are planned such as, a carpark extension due to the growth of traffic within the school, further Chimney renovation5, ongoing maintenance to our Grade 11 listed building5 as well a5 further development of our intervention classes and resources. Further spending will be need for the increase in salary tost5 due to Nl increases and the continuing increase in minimum Wa a5 well 35 a determinab'on within the school's Governance that staff are paid at a competitr've market rate. Our financial plan is supported by a mortgage from Charity Bank,- a 25-year repayment mortgage for £410,000 whilst a previous three-year fixed term interest only mortgage for £50,ooo has now been repaid in accordance to the terms of the loan. These were put in place a5 Part of our recovery plan to ensure sufficient capital was available and for the school to start to make necessary investment5 in the estate and equipment. We are a registered charity which means we do not have commercial owners and any surpluses are put back into developing the school. We are Department of Education approved to accept students with local authorty funding, if available, and because of our charitable status we can offer affordable fees for those who are self- funding. Reserves policy It is the policy of the school that its financial activities are maintained within a tight budget, which 15 approved by Governors. The nature of the school's activities determines that the reserves fund. property, and other net assets. are held to cover unexpected shortfalls on the Statement of Financial Activities. The Governors consider that, in the event of a significant drop in short-term funding, they will be able to continue the school's athvities whilst consideration is given to ways in which additional funds may be raised. In addition, we have agreed that we will seek to build reserves each year with effect from 2021122,. to be agreed annually. Investment policy and objectives There are no restriction5 on the school'5 absolute powers of investment. The policy continues to te to put any retained funds in higher deposit interest accounts.
NORTHEASE MANOR SCHOOL LIMITED GOVERNORS, REPORT {INCLUDING DIREcfoRS' REPORT) ICONTINUED} FOR THE YEAR ENOED 31 AUGUST2024 Principal Risks and Uncertainties The Governors review the school's current and planned future activities in the light of known and emerging risks, major risks and have the systems and procedures designed to manage them. The school is financially dependent on local authDritie5 who have been adversely impacted tinancially. We plan future budgets based on possible scenarios, such as tho proposed removal of business rates relief and VAT on fee5 in order to manage implications tinancially. The economic context is rapidly changing Wlth inflationupward movement and the continuing rise in energy pricing plus increased material and labour costs together with increases in teaching and support staff salaries, are being factored into forward planning. The rapid increase in student number5 through the last three years is giving us further confi'dence that our financial plan is robust, but we are not complacent. The school has been well planned through dynamic risk assessments and business continuity planning. An increaso in fees was agreed with all local authorities as well as private fee payers for 2023 - 2026. We are now receiving the second of the planned increases and negotr.ated a further increase with one local auth(Kity (who however only places a handful of young people). Our plans and strategies for managing risk Include maintaining effoctive internal controls, risk gISterS, a considered risk appetite. incident-reportr"nE and monitoring 5YStems and insurance cover where appropriate. Plans for Future Periods School numbe have increased more than 50% in the past 2 years and the school was at capacity in 2022. For 2024 the school aims to keep student number5 at a manageable fi.gure arDund 110-115. To date we have already exceedod our budgeted student numbers. The crisis facing SEND educational and family support systems in the southeast is a siEnih"cant factor in the growth of admissions, but improved relationship5 Wlth our local authority partners who see Northease a5 value for money in delivering excellent outcomes for our students Is the key factor in the maintenance of student numbers. Increased fees with the local authorities has not had an effect on placeTnents and increased publicity h35 assured our reputation a5 the gold standard for SEN D education locally. Northease continues to offer a hiEh-quality provision that represents good value for money for our Stakeholders. Current and forecasted economic conditt.ons had added to the school'5 challenges in delivering on planned outcomes, and the school governor5 and leadership team are working tDgether to form a strategy to ensure the school's continued success into the future. Following a safeguarding visit from ESCC in September 2022 considerable changes were required to ensure safeguarding,. these wero addressed and resulted in a further inspection in February 2023 which had no further improvements required. A follow up inspection in February 2024 also had no improvement to note. Strurture, Governance and Management The charitable company's original constitution is per the 1972 Trust Deed and registered with the Charity CDmmi5sioners under charity number 307005. Tho Memorandum and Artr'cles of Associatr"on119721 havo been amended in subsequent years, the latest amendment being in 2021. Northease Manor School Limited (the Trust) is the legal ents'ty that owns the land, buildings, and other assets of Northease Manor School. The school operates as a charitable company limited by guarantee. The Board of Governors of Northease Manor School Limited Ithe Board) are the directors and trustees of the charitsble company. The agenda for all meetings takes account of these separate but concurrent responsibilitr"es. NDne of the Governor5 have any beneficial interest in the company. All Governors are members of the company and guarantee to contribute £1 in the event of a winding up.
NORTHEASE MANOR SCHOOL LIMITED GOVERNORS, REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 The Governors, who also act as Trustees and who are also the directors for the purpose of company law, and who served during the year and since the year end were: Mrsj Toben MIOD. MCIOF Ichairl Mr D Carpenter (Vice Chairl Mrstuart Bridge Mrs G Des Moulins Ms P Field Mr R Kantaria Mr N Stanley Mrs M Stebbing Mr A Walker MA NPQH Ms C Wickham BA Hons, MA. R.C.A. IAppointed 25 June 20241 (Appointed 3 October 2024 and resigned 8 November 20241 (Resigned 7 January 20251 (Appointed 25 June 20241 (Appointed 3 October 20241 (Resigned 31 August 20241 (Resigned 31 August 20241 Recruitment and Appointment of Governors The Governors aim to maintain a Board with a diverse range of Skills and expertise. experience, and perspective to provide effective direction and oversiEht. The Board consists of not fewer than five and not more tlHn 9 Governors. The Board ha5 absolute discretion as to the appointment of any governor. The term of office for a Governor is three years and they are eligible to serve up to a further two terms. The Chair is responsible for the leadership of the Board and ensuring its effectiveness in all aspects of its role. The Chair facilitates both the contribution of Governor5 and the constructive relations between the Boatd and the Head and Senior Leadership Team. The Governors handbook includes role descriptions for Governors plus the Chair and Safeguarding Governor, a conflicts of interest policy and a code of conduct for Governors, b35ed upon the Nolan Principles (the Seven Principles of Public Lifel. Terms of Reference have been established for Academic and Finance and Estates Committees. The Board may from time to time, seek naminations from parents of students attending the school. The number of Parent Governors must not exceed one third of the Board. A parent governor ceases to be a Governix on the day their child leaves the School. No parent governors were in place during the academic year 2023124.
NORTHEASE MANOR SCHOOL LIMITED GOVERNORS, REPORT (INCLUDING DIREoR5, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Organisational Structure The Board is ultimately responsible for all aspects of the school and its future well-beinE. Through a Scheme Df Delegabon, it has delegated to the Headteacher in their role as Chief Executs've, responsibility for the day-to-day operation and management of the school. The BDard exercises an appropriate measure of control over this delegated responsibility by.. Education & Charitable Objects Approving the academic policy statement. Annually reviewing the child protection policy and procedures. Receiving data (but not the individual details) on formal parental complaints and providing a panel to hear appeal5. Ensuring that the charitable object5 of the school are met and that public benelit ensuos. Finance Providing written delegated financial powers to the Head of Finance. Approving a ilive-year financial forecast. Approving the annual revenue and capital budgets and regularly reviewing performance against these budgets at least each term. Approving fees to be paid by parents. Keeping a regular oversight of unpaid fees, debtors and bad debts. Approving any expenditure outside the agreed budEet at the school. As governors of the Trust, overseeing investmont & investment property matters. Ensuring that all matters relating to income and corporation tax, value addod tax and council tax are being properly dealt with. Reviewing the annual report and financial statements with the auditors and then approving them. Receiving an annual report on all insurance cover, including that indemnifying the liabilitie5 of the directors and offi"cer5. Staff & Personnel Matters Approving the term5 Df and conditions Df employment for all staff. Approving all increases and changes to the approved salary scales and sethng the level of remuneration for the Headteacher and the Head of Finance. Receiving reports on compliance with change5 in employment law. Monitoring the application of the staff discipline and grievance procedures. Estate and Premise5 By way of a planned maintenance programme, ensuring buildings, plant and equipment are maintained to a high standard. Ensuring the school has appropriate policies and system5 to comply with all building Safety and health & safety legislation. Approval of changes to building redesiRn and LJsaRe and the development of new facilitr'es Profe55ional Advice & Support Appointing all professional advisers and koeping those appointments under review. The full Board of Governors meets at least four times a year. A skills audit of tho Board was undertaken to inform the recruitment of further suitably skillod Governors.
NORTHEASE MANOR SCHOOL LIMITED GOVERNORS, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Remuneration of Key Management The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure that the School remains sensitive to the broadw issues of pay and employment conditions elsewhere. Funds held as custodian trustee There are no arrangements where the charity or Governors are acting as custodians. 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. Disclosure of information to auditor Each of the Governor5 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. In approving the Governors, Report, we also approve the Direttors, Report included therein, in our capacity as company director5. The Governors, report wa5 approved by the Board of Governors. Lcfru MrsJ Toben MIOD, MCIOF Ichairl Governor
NORTHEASE MANOR SCHOOL LIMITED STATEMENT OF GOVERNORS, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The Governors, who aro also the directors of Northease Manor School Limited for the purpose of company law, are responsible for preparing the Governors, Roport and the accounts in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the Governor5 to prepare accounts for each financial year which give a true and fair view of the state of affair5 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.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP. make judgements and estr"mates that aro reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subjert to any material departure5 disc105ed and explained in the accounts,. and prepare the accounts on the going concern basis unles5 It is inappropriate to presume tlwt the charitable company will contr.nue in oporatr"on. The Governors aro responsible for keeping adequate accounting record5 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 irregularits'es.
NORTHEASE MANOR SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED Opinion We have audited the financial statements of Northease Manor School Limited (the 'charitable company'l for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of signifi'cant accountiig policies. The financial reporring framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financiol Reporting Standard opplicuble in the UK ond Republic of Irelond (United Kingdom Generally Accepted Accounting Pratttcel. In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilitiesfvr the oudit of the financiol sttytements 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 statement5 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 fi.nancial 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 signifi'cant doubt on the charity's ability ID 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 respett to going concern are described in the relevant sections of this report. 10-
NORTHEASE MANOR SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED Other information The other information comprisos the information included in the annual report other than the financial statements and our auditor's report thereon. The Governors are responsible for the other information contained within the annual report. Our opinion on the fi.nancial statements does not cover the other informatr)n and, except to the extent otherwise explicitly stated in our report, 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 informatr'on is materially inconsistent with the fi.nancial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially m155tated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether thi5 gives rise to a material misstatement in the financial statement5 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the Governors, report for the fi'nancial year for which the financial statements are prepared, which includes the director5, report prepared for the purposes of company law, is consistent with the fi.nancial statements,. and the director5, report included within the Governors, report ha5 been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identifi'ed material mi55tatements in the directors, report included within the Governors, 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.. adequate accounting record5 have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statement5 are not in agreement with the accounting records and returns- or certain disclosuros of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit,. or the Governor5 were not entitled to prepare the linancial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the Governors, report and f rom the requirement to prepare a strategic report. Responsibilities of Governors As explained more fully in the statement of Governors, responsibilities, tho Governors, who are also the directors of the charitable company for the purpose of company law, are responsib5e for the preparatr'on 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 preparab.on 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 tho 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. 11
NORTHEASE MANOR SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statement5 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 IUKI will always detect a material misstatement when it exists. Mi5Statements 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 whlch the audit was considered capable of detecting irregularities, including fraud The objethves 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.. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the director5 and other management las required by auditing standards), and di5CUS5ed with the directors and other management the policie5 and procedures regarding compliance with laws and regulations,. We identified the following area5 as those m05t likely to have such an effert: health and safety; General Data Protection Regulation IGDPRI,. fraud; bribery and corruption and employment law. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework IFRS 102 and the Companies Act 2006 and the Charities Act 20111 and the relevant tax compliance regulation5 in the UK,. We considered the nature of the company's operations, the control environment and business performance, including the key drivers for management's remuneration; We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit- We considered the procedures and controls that the group has established to addre55 risks identified, or that otherwise prevent, deter and detect fraud- and how Senior management monitors those programmes and controls. 12-
NORTHEA5E MANOR SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED 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 eLh identh'fied fraud risk. These procedures included.. tests. ng manual journals,. reviewing the fi'nancial statement discloskjres and testing to supporting documentatr"on- performing analytical procedures,. and enquiring ot management, and were designed to provide reasonable assurance that the financial statements were fr from fraud or error. Owing to the inhorent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in tho linancial statements, oven 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 lirregularitiesl is from the events and transacts'ons reflocted in the fi'nancial statements, the less likely the inherently limited procedures required by audits.ng standards would identify it. The risk is also greater regarding irrogularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentatt"on. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulatr"ons. A further description of our responsibilib.es for the audit of the financial statements is located on the Financial Reporting Council's webslte at.. hrt www.frc.Dr auditrJrsres onsibilitr'e5 This descriptr.on forms part of our auditor's report. Use of our report This report Is made solely to the charitable company's mombors, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that wo might state to the charitable company's members those matters wo aro required to state to them in an auditor5, report and for no (ther 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. David Martin FCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditor Office.. Lewes Date.. 13-
NORTHEASE MANOR SCHOOL LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2024 Current financial year Unrestricted Unrestricted Restricted fund5 funds fund5 general designated 2024 2024 Total Total 2024 2024 2023 Note5 Income and endowment5 from: Donations and legacies Charitable activitr.es Fundraising projects Investments Other income 5,881 5,881 3.152,282 2,109 5,809 55,316 325 3,152,282 2,109 5,809 55,316 2,839,352 2,642 1,451 116,980 Total income 3,215,516 5,881 3,221,397 2,960,750 enditure on: Raising funds Charitable activities Other 2,328 2,857,804 5,381 2,328 531 2,915,861 2,739,370 5,381 53,897 4,160 15 Total expenditure 2,865,513 53,897 4,160 2,923,570 2,739,901 Net incoming resources before transfers 350,003 153,8971 1,721 297,827 220,849 Gross transfers between funds 1259,6761 261,542 11,8661 Net incomellexpenditurel for the year/ Net movement in funds 90,327 207,645 11451 297,827 220,849 Fund balances at I September 2023 271.687 1,505,979 155 1,777,821 1,556,972 Fund balances at 31 August 2024 362,014 1,713,624 io 2,075.648 1,777,821 The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recogni5ed in the year. All income and expenditure derive from continuing activities. The statement of financial activitie5 a150 complies with the requirements for an income and expenditure account under the Companies Act 2006. 14-
NORTHEASE MANOR SCHOOL LIMITED STATEMENT OF FINANCIAL ACTIVITIES ICONTINUEDI INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2024 Prior ftnancial year Unrestricted Unrestricted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 Notes Income and endowments from: Donats'ons and legacies Charitable activitie5 Fundraising projerts Investments 325 325 2,839,352 2,642 1,451 116,980 2,839,352 2,642 1,451 116,980 Other income Total income 2,960,425 325 2,960,750 enditure on: Raising funds Charitable activities 531 2,685,893 531 52,524 953 2,739,370 Total expenditure 2,686,424 52,524 953 2,739,901 Net incoming resources before transfers 274,001 152,5241 16281 220,849 Gross transfers between funds 142,0871 42,087 Net income/{expenditurel for the yearl Net movement in funds 231,914 110,4371 16281 220,849 Fund balances at I September 2022 39,773 1,516,416 783 1,556,972 Fund balances at 31 August 2023 271,687 1,505,979 155 1,777,821 15
NORTHEASE MANOR SCHOOL LIMITED BALANCE SHEEr AS AT31 AUGUST2024 2024 2023 Notes Fixed assets Tangible assets 17 1.756,408 1,557,943 Current assets Debtors Cash at bank and in hand 18 897,732 979,802 948,918 663,719 1,877,534 1,612,637 Creditors: amounts falling due within one year zo 11,182,853) 11.008.516) Net current assets 694,681 604,121 Total assets less current liabilities 2,451,089 2,162,064 Creditors: amounts falling due after more than one year 21 1375,4411 1384,2431 Net assets 2,075,648 1,777,821 The funds of the charitable company Restricted income fund5 Unrestricted funds - general Unrestricted funds - designated 25 io 362,014 1,713,624 155 271,687 1,505,979 24 2,075,648 1,777,821 The financial statement5 were approved by the Governors on A-: MrsJ Toben MIOD. MCIOF (Chairl Governor Company registration number 01078648 IEngland and Wales) 16-
NORTHEASE MANOR SCHOOL LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGusf2024 2024 2023 Notes Cash flows from operating activities Cash generated fromllabsorbed by) operations 29 593,587 124,4441 Investing activities Purchase of tangible fixed assets Investment income received 1275,6341 5,809 170,3891 1,451 Net cash used in investing activities 1269,8251 168,9381 Financing activities Repayment of bank loan5 17,6791 158,9121 Net cash used in financing activities 17,6791 158,9121 Net increase/ldecreasel in cash and cash equivalents 316,083 1152,2941 Cash and cash equivalents at beginning of year 663,719 816,013 Cash and cash equivalents at end of year 979,802 663,719 17-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 Accounting policies Charity information Northea5e Manor School Limited is a private company limited by guarantee incorporated in England and Wales and a registered charity. The registered office is Newhaven Road, Rodmell, Lewes, East Sussex, BN7 3EY. 1.1 Accounting convention These account5 have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102,1, 'Accounting and Reporting by Charities" the Statement of Recommended Practice for charitses applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice a5 It applies from l January 2019. The charitsble company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern The financial statements have been prepared on a going concern basis. The Governors have prepared detailed budgets and cash flow forec35t5 for at least 12 months frDm the date of the approval of these financial statements. On the basis of these, along with a robust recovery plan and together with support from Charity bank, the Governors consider it appropriate to prepare the financial statements on a E(xng oncern basi5. 1.3 Charitable funds Unrestricted fund5 are available for use at the discretion of the Governors in furtherance of their charitable objective5. Designated funds comprise funds which have been set aside at the discretion of the Governors for specific purposes. The purposes and use5 of the designated funds are set out in the note5 to the financial statements. Restricted funds are subject to specific conditions by donors or grantors 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 Income Income is recognised when the charitable company 15 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 charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 18-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Accounting policies (Continued) Schoo5 fee5 receivable are charged for services and use of the premises are accounted for in the period in which the service is provided. 1.5 Expenditure Expenditure 15 recognised once there is a legal or constructs've obligats'on to transfer economic befit to third party, it is probable that a transfer of economic benefi.ts will be required in sottlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The cost5 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 actr.vity and support costs which are not httributable to a single actr'vty are apporhoned between those acts'vitie5 on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charge5 allocated on the portion of the asset's use. Fundraising costs are those incurred in seeking voluntary contributions and do not include the cost5 of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support Df expenditure on the objects of the companv. Costs of gonorating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable acb"vities and Govornance cost5 are costs incurred on the company's educational operations, including Support Costs and costs relatr.ng to the governance of the company apports'Dned to charitable activitres. All resources expended are inclusive of irrecoverable VAT. 1.6 Tangible fixed a55ets Tangible fi'xed assets are initially measurod at cost and subsequently measured at Cost or valuation, net of depreciation and any impairment losses. Capital items over £l,QOO are capitalised at C05t. Tangible lixed assets are stated at C05t le55 depreciation. Depr@ciab"on is provided at rates calculated to write off the cost less estimated residual value of each a55et over its expected useful life, as follows: Freehold land and buildings Freehold buildings Computer hardwJrc & software Fixtures, fi'ttings & equipment Motor vehicles Not depreciated 15 or 50 yoars Straight line 3 year5 Straight line 15/0 Straight line 25/0 Straight line Tho gain or 1055 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 h'nancial actr"vitt"es. 19
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL 5fATEMENTS {CONTINUED) FOR THE YEAR EAIDED 31 AUGUST2024 Accounting policies (Continued) 1.7 Impairment of fixed assets At each reporhng end date, the charitsble company review5 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 in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charitable company has elected to apply the provisions of Section 11 'Ba5ic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitable company 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 recogni5ed amounts and there is an intention to settle on a net ba5[5 or to realise the asset and settle the liability simultaneously. Ba5icfinancial assets Basic fi'nancial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortrsed 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 a5 receivable within one year are not amorhsed. Basicfinunciul liabilitie5 Basic financial liabilities, including creditors and bank loans are initially recognised at tran5actiDn price unless the arrangement constitute5 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 classifi'ed as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from Suppliers. Amounts payable are cla5sifi.ed as current liabilities if payment 15 due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost Using the effective interest method. Derecognition offinanciol liubillties Financial liabilities are derecoEnised when the charitable companws contractual obligations expire or are discharged or cancelled. -20-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Accounting policies (Continued) 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are receivod. Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committod to terminate the employment of an employee or to provide termination benelits. 1.11 Retirement benefits The School operates a defined contributions pension scheme. Payment5 to delined contribut.on retirement benefit schemes are charged as an expense as they fall due. Acadomic staff are members Df the teachers, suporannuation scheme administered by the Teachers, Pension Agency. contributr.ons to the scheme are charges to the statement of financial activities a5 they f311 due. Critical accounting estimates and judgements In the application of the charitable company's accounting policies, the Governors are required to make judgements, estimates and a5sumption5 about the carrying amount of assets and liabilities that are not readily apparent from other 5c)urce5. The estimates and associatod assLJmption5 are based on historical experienc2 and other factors that are considered to be relevant. Actual results may differ from the e5ts'mates. The estr.ateS and underlying a55umpts.ons are reviewed on an ongoing basis. Revisions to accounting esb"mates aro 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 f uture periods where the revision affects both curront and future periods. Key sources of estimation uncertainty Depreciation The charitable company exercises judgement to determine useful livos and residual values of property, plant and equipment. The assets are depreciated down to their residual values over their estimated useful live5. Donations and legacies Restricted funds Restricted funds 2024 2023 Donations and grants 5,881 325 21
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Charitable activities School fees Other school income 2024 Total School fees Other school income Total 2024 2024 2023 2023 2023 Gross fees Less: Bursaries and discounts 3,126.668 40,212 3,166,880 2,825,141 16,521 2,841,662 114,5981 114,5981 12.3101 12,3101 3,112.070 40,212 3,152,282 2,822,831 16,521 2,839,352 Income from other trading activities Unrestricted Unrestrirted funds fund5 2024 2023 Fundraising events 2,109 2,642 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 5,809 1.451 -22-
NORTHEA5E MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 Other income Unrestricted Unrestrirted funds funds general general 2024 2023 Rent and letting fees Registration fees and miscellaneous income 2,988 52,328 2,988 113,992 55,316 116,980 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundrnising and publicity Fundraising evonts 2,328 531 23-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL sfATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 Charitable activities Teaching and educational Costs Welfare Support and Costs administration costs Premises COSt5 Total Total 2024 2024 2024 2024 2024 2023 Staff costs Depreciation and impairment Other costs 1,848,912 163,916 285,550 2.298,378 2,110,689 10,645 49,295 7,246 235,529 53,897 161,996 71,788 487,778 68,286 511,103 40,958 1,889,870 223,856 528,325 215,893 2,857,944 2,69a,078 Share of governance Costs Isee note 111 57,917 57,917 49,292 1,947,787 223,856 528,325 215,893 2,915,861 2,739,370 Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds 1,947,787 223,856 524,165 161,996 2,857,804 2,685,893 53,897 53,897 4,160 52,524 953 4,160 1,947,787 223,856 528,325 215,893 2,915,861 2,739,370 -24-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR EIVDED 31 AUGUST 2024 Charitable activities (Continued) For the year ended 31 August 2023 Teaching and educational costs Welfare Support and costs administration COSts Premises costs Total 2023 2023 2023 2023 2023 Staff costs Depreciation and impairment Other costs 1,696,583 139,699 10,644 48,499 274,407 5,118 209,328 2,110,689 68,286 511,103 52,524 195,813 57,463 1,754,046 198,842 488,853 248,337 2,690,078 Share of governance costs (see note iii 49,292 49,292 1,803,338 198,842 488,853 248,337 2,739,370 Analy515 by fund Unrestricted funds general Unrestricted designated Restritted funds 1,803,338 198,842 487,900 195,813 52,524 2,685,893 52,524 953 953 1,803,338 198,842 488,853 248,337 2,739,370 10 Charitable activities- other costs Other costs relating to teaching and educational costs comprise= 2024 2023 Educatr'onal equipment Professional development Specialist fees lexamsl Tuck shop expenses 23,280 7.551 7,265 2,862 21,418 21.091 12,279 2,675 40,958 57,463 25-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGusf2024 10 Charitable activities - other costs (Continued) Other costs relating to welfare costs comprise: 2024 2023 Catering supplies Catering hospitality 45,14D 4.155 45,318 3,181 49,295 48,499 Other cost5 relating to premises costs comprise: 2024 2023 Council tax & water Insurance Fuel & light Health & safety Buildings maintenance Grounds maintenance Household expenses Swimming pool expenses 10,707 35,797 65,113 7,183 23,937 6,428 10,577 2,254 13,226 37,248 71,522 10,362 32,402 8,035 10,452 12,566 161.996 195,813 Other costs relating to support and administration costs for schooling comprise: 2024 2023 Stationery & printing Postage Telephone Television, film & cameras Legal & profe55ional Recruitment cost5 Travelling & motor Maintenance of equipment IT development & support Bad debts Miscellaneou5 Subscriptions & licence5 Out50urcing Licences 15,853 925 15,968 349 9,825 159 3,731 2,020 3,3DI 19.409 70,120 11,8001 9,826 14,936 50,709 10,775 9,290 329 8,517 2,661 4,346 27,317 59,032 12911 12,018 18,183 67,407 9,942 235,529 209,328 -26-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 11 Governance costs 2024 2023 Audit fees Accountancy Legal and professional Bank charges Clerking costs L03n interest 12,540 402 11,340 2,250 4,310 864 4,483 12,4691 10,067 32,894 1,419 29,109 57,917 49,292 Analysed between Charitable activities 57,917 49,292 12 Net movement in funds 2024 2023 The net movement in funds is stated after charging/lcreditingl'. Fees payable for the audit of the charity's financial statements Depreciation of Dwned tangible tixed assets Loss on disposal of tangible fixed assets 12,540 71,788 5,381 11,340 58,286 13 Governors None of the Governor5 lor any person5 connected with theml recoived any remuneration or benefit5 from the charitable company during the year. 14 Employees The average monthly number of employee5 during the year was-. 2024 Number 2023 Number 63 62 27-
NORTHEASE MANOR SCHOOL LIMtrED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 14 Employees (Continued) Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 1,885,095 146,891 226,304 1,763.486 139,270 197,479 2,258,290 2,100,235 The number of employees whose annual remuneration was more than £60,000 is as follows- 2024 Number 2023 Number £60,000- £70,000 £80,000 - £90.000 Remunerntion of key management personnel Key management personnel received remuneration. which includes employers Nl, and employer pension contributions, as follows-. 20Z4 2023 Aggregate compensation 317,476 300,087 IS Other expenditure Unrestricted Unrestricted funds funds 2024 2023 Net loss on disposal of tangible fixed assets 5,381 28-
NORTHEASE MANOR SCHOOL LIMffED NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 16 Taxation The charity is exempt from taxation on its attivities because all its income 15 applied for charitable purposes. 17 Tangible fixed assets Freehold Computer Fixttires, land and hardware & fittings & building5 software equipment Motor vehicles Total Cost At I September 2023 Additions Disposals 3,207,491 261,542 18,823 14,092 60,720 34,450 3.321,484 275,634 112,5321 112,5321 At 31 August 2024 3,469,033 32,915 48,188 34,450 3,584,586 Depreciation and impairment At I September 2023 Depreciation charged in the year Eliminated in respect of disposals 1,701,512 53,897 11,634 6,274 24.240 7,247 17,1511 26,155 4,370 1,763.541 71,788 17,1511 At 31 August 2024 1,755,409 17,908 24,336 30,525 1,828,178 Carrying amount At 31 August 2024 1,713,624 15,007 23,852 3.925 1,756,408 At 31 August 2023 1,505,979 7,189 36,480 8,295 1,557,943 18 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 868,490 29,242 914,533 34,38S 897,732 948,918 29-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YE4R ENDED 31 AUGUST2024 19 Loans and overdrafts 2024 2023 Bank loans 384,274 391,953 Payable within one year Payable after one year 8,833 375,441 7,710 384.243 The bank loan is secured by fixed charges over the freehold property known as Northease Manor Schojl together with funds held in the Debt Service Reserve Account. The loan is repayable over a period of 25 years at an interest rate of 3.25DA above the Bank of England base rate, with a break option after five years in November 2023. No capital repayments are due on the arount of the loan drawn down for 36 months following the initial draw down date. 20 Creditors: amounts falling due within one year 2024 2023 Notes Bank loans Other taxation and social security Deferred income Trade creditors Other creditors Accruals 19 8,833 34,642 1,027,424 69,065 30,349 12,540 7.710 29,883 914,533 23,066 24,819 8,505 22 1,182,853 1,008,516 21 Credltors: amounts falling due after more than one year 2024 2023 Notes Bank loans 19 375,441 384,243 -30-
NORTHEASE MANOR SCHOOL LIMITED NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 22 Deferred income 2024 2023 Arising from Fees in advance 1,027,424 914,533 Deferred incDme is included in the financial statoments as follows.. 2024 2023 Deferred income is included within.. Current liabilitres 1,027,424 914,533 Movements in the year: Deferred income at I September 2023 Released from previous periods Resources deferred in the year 914,533 1,015,797 1914,5331 11,015,797) 1,027,424 914,533 Deferred income at 31 August 2024 1,027,424 914,533 Deferred income represents winter term fees for the coming school year which are billed in advance. 23 Retirement benefit schemes Defined contribution schemes The school operates two ponsion schemes for the benefit of emplDyeos. The Teacher5, Pension Scheme ITPSI, a defined benefit scheme, is available to all teachers. All other staff can enter a defi.ned contributions scheme. Defined contribution The assots Df the scheme are held separately from those of the School in an independently administered fund. Contributions to the scheme aro charges to the Statement of Financial Activities as they fall due. Contributions payable by the charitablp rompany in the year amounted to £13,97112023 - £12,691). The company also operates a defi.ned contribution pension schomo. The assets of the 5chemo are held Separately from those of the company in an independently administered fund. The pension cost charge represent5 contributr'on5 payable by the company to the fund. Contributions totalling £2,97412023 £2,516) were payable to the fund at the year end and are included in creditors. 31
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS ICQNTINUED) FOR THE YEAR ENDED 31 AUGUST2024 23 Retirement benefit schemes (Continued) Teachers, Pension Scheme Teachers, Pension Scheme The Teachers, Pension Scheme ITPSI is a statutory, contributory, defined benefit scheme, governed by the Teachers, Pension Scheme Regulations 2014. Membership is automatr'c for teachers in schools. All teacher5 have the Option to opt-out of the TPS followinE enrolment. The TPS is an unfunded scheme to which both the member and employer makes contribution5, a5 percentage of salary - these contributions are credited to the Exchequer. Retirement and other pensDn benefits are paid by public funds provided by Parliament. Valuation of the Teachers, Pension Scheme The Government Actuary, using normal actuarial principles, conducts a formal attuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Capl Directions 2014 publEhed by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and maroged appropriately and the review specifies the level of future contributions. Actuarial scheme valuations are dependent on a55umptions about the value of future costs, design benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 Ottober 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7QA above the rate of CPI. The key element5 of the valuation outcome are.. Employer contribution rates Set at 28.68% of pensionable pay (including a 0.08°A administration levyl. This 15 an increase of 50A in employer contributions and the cost control result 15 such that no change in mernber benefit5 15 needed. Total scheme liabilitie5 (pensions currently in payment and the estimated cost of future benefits) for Service to the effective date of £262,000 million and notional assets le5timated future contributions together with the notional investments held at the valuation datel of £222,200 million, giving a notional past service deficit of £39,800 million The result of this valuation will be implemented from l April 2024. The next valuation result is due to be implemented from l April 2028. The employer's pension costs paid to TPS in the period amounted to £212,78312023- £184,787). A copy of the valuation report and supporting documentation 15 on the Teachers, Pensions website. Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The school is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the school has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The school has set out above. the information available on the scheme. -32-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2024 24 Unrestricted funds - designated These are unrestricted funds which are material to the charitable company's activitie5. Atl September 2023 Resources expended Transfers At 31 August 2024 Fixed asset fund 1,505,979 153,8971 261,542 1,713,624 Previous year: Atl September 2022 Resources expended Transfers At 31 August 2023 Fixed asset fund 1,516,416 152,5241 42,087 1,505,979 The Fixed Asset Fund has been established to reflect the charitable company's investment in its freehold property assets. A transfor is made oach year from the genoral fund to refloct any addikn'ons paid by general funds and also disposals made in the year. The transfer from the general fund during 2024 totalled £261,543 12023 - £42,D871. 25 Restricted funds The income funds of the charitable company include restricted funds comprising the following unexpended balances of donatr'ons and grants held on trust for specifi.c purposes: Atl September 2023 Incoming resources Resources expended Transfers At 31 August 2024 Brighton Half Marathon London to Brighton Walk Horticultural Area Swimming Pool Duke of Edinburgh Library 165 12491 84 12,5661 591 2,566 2,650 13,2411 11441 14901 1361 123 21 500 io 32 155 5,881 14.1601 11,8661 io 33-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 25 Restricted funds (Continued) Previous year: Atl September 2022 Incoming resources Resource5 expended Transfers At 31 August 2023 Swimming Pool Duke of Edinburgh Library Tennis coaching Budding Foundation 251 11281 15001 123 500 32 32 250 12501 1751 75 783 325 19531 155 The Brighton Half Marathon was completed by Nick Kennedy to raise funds for the purchase dyslexia reading pens. The London to Brighton walk wa5 completed by Kaye, Millie and Daisy to raise funds for phase one of the trim trail. The Horticultural Area fund has been Set up to provide resources to help develop the horticultural area. The Swimming Pool fund has been set up to provide equipment for the swimming pool. The Duke of Edinburgh fund has been set up to help support the school in its purchase of resources. The Library fund has been Set up to support the purchase of books for the library. The Tennis Coaching fund has been set up to provide tenni5 le550ns for the students. The Budding Foundation fund ha5 been Set up to purchase horticultural equipment. 34-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 AUGUST2024 26 Analysis of net assets between funds Unrestricted Unrestricted funds funds general designated 2024 2024 Restritted funds Total 2024 2024 Fund balances at 31 August 2024 are represented by: Tangible assets Current assets1lliabilitiesl Long term liabilities 42,784 694,671 1375,4411 1,713,624 1,756,408 694,681 1375,4411 io 362,014 1,713,624 io 2,075.648 Unrestricted Unrestricted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 Fund balances at 31 August 2023 are represented bv: Tangible assets Current assets/lliabilitiesl Long term liabilities 51,964 603,966 1384,2431 1,505,979 1,557,943 604,121 1384,2431 155 271,687 1.505,979 155 1,777,821 27 Operating lease commitments Lessee At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cance113blo operating leases, which fall dtje as follows: 2024 2023 Within one year Between two and live years 3,076 4,102 3,076 3.076 7,178 35-
NORTHEASE MANOR SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 28 Capital commitments 2024 2023 Amounts contracted for but not provided in the financial statements.. Acquisition of property, plant and equipment 42,934 29 Cash generated from operations 2024 2023 Surplus for the year 297,827 220,849 Adjustment5 for.. Investment income recognised in statement of financial activities Loss on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets 15,8091 5,381 71,788 11,4511 68,286 Movements in working capital.. Decreasellincreasel in debtors Increase/ldecreasel in creditors Increase/ldecreasel in deferred income 51,186 60.323 112.891 1199,2121 111,6521 1101,2641 Cash generated from/{absorbed by) operations 593,587 124,4441 30 Analysis of changes in net funds Atl September 2023 Cash flows At 31 August 2024 Cash at bank and in hand 663.719 316,083 979,802 Loans falling due within one year Loans falling due after more than one year 17,7101 1384,2431 11,1231 8,802 18,8331 1375,4411 271,766 323,762 595,528 -36-