Charity rpgistration number 307024
Gompany registratlon number l)0543113 (England and Wales)
FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
LEGAL AND ADMINISTRATNE INFORMATION
Trustees
C S Johns
N M S G Bartholomew
AJ Smith
(Appointed 19 November 2024)
Charity numbor
307024
Company nurnber
00543113
Registered office and
principal address
Bolney Court
Crossways
Bolney
Haywards Heath
West Sussex
RH17 5RD
Auditor
TC Group
The Coutyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Accountant
Moore (South) LLP
9 St Johns Place
Newport
Isle of Wight
P030 1LH
Bankers
Natwest Bank PIC
1 Must8r Grggn
Haywards Heath
West Sussex
RH164AP

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
CONTENTS
Page
Trustees, report
Independent auditorfs report
10-12
Statement of financial activities
13
Balance sheet
14
Statement of cash flows
15
Notes to the financial statements
16-30

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their ￿port and the audited financial statements of the Charity for the year ended 31
August 2024. The TTUStees have adopted the provisions of the Statement of Recommended Practice (SORP)
"Accounting and Reporting by Charities" (FRS102) in preparing the annual Teport and financial statements of the
charity. This report meets the requirements for the Directors and Strategic RetM)rL as required by Company Law.
On 25 November 2024, the charitable company changed its name from Famey Close School Limited and at the
same time was granted exemption from using the word 'limited" in its name.
The financial statem8nts have been prepared in accordance with the accounting policies set out in not8 1 to Ihe
financial ststements and comply with the charitys articles of association.
srRATEGIC REPORT: OBJECTIVES, AIMS AND ACTivrriES
F8mey Close School's aim is to provide educational and social development opportunities for boys and girts
aged 9 -18 who, following the introduction of the Children & Families Act 2014, have an Education, Health & Care
Plan for Social, Emotional and Mental Health or associated needs. All students who att8nd the school are
referred by a range of Local Authorities across the South and Southeast of England.
Our key objectives are to..
Provide an academic, vocational, and socsally leaming environment that supports students to achieve
economic wellbeing. and to be able to tnake a positive contribution to their family, the local community and to
society in general.
Pmmote a positive sense of personal wellbeing amongst students.
Provide students with a full entitlement to the National Curriculum and a range of examination subjects at
levels that match their abilitses and intellectuallcognitive capacity-
Provide students with a package of care Ihat suprths and develops their emotional rnaturity and meets their
social educational needs.
Provide students wtth a range of vocational opportunities to support a successful transition into the work-
related environment
Maintain the sustsinability of the school through:
Positive Inspection and monitoring reports,
Managed. responsible fee setting,
High qualty resources and accommodation,
Regular quality staff training and professional developm&nt opportunilies,
Conducting quality assurance exer¢lses and the collection and review of appropriate
dats to infomi planning.

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2024
Our Ethos, Strategy and Policles
The charity aims to meet its objectives by carrying out its activities In line with the schools, policies end
procedures.
Antl4liscrimination and Equality
Provided they have an Education, Health & Care Plan, Famey Close is open to students who are referred and
funded by their Local Authorlty.
We are an equal opportunity organisation, committed to a working environment Ihat is free from any fomi of
discrimination as identified in the Equality Act 2010. We will make reasonabl8 adjustments to meet the needs of
stsff or pupils who are, or may becorne, dlsabled. Since the inception of the Equality Act 2010 the school reviey
its Complian￿ in this area of leglslation annually.
Public B•nefft
In sgtting our objedives and planning our activities, th8 Trustees have given careful consideration to the Charity
Commission's general guidance on public benefit and in particular to ils supplementsry public benerrt guidance
on advancing academic, social educatlon and on fee-charglng.

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Safeguarding
The school continues to be commltted to safeguarding and promoting the welfare of ils students. Thls focus is
shared by all Trustees and staff. As part of this. the school's Designated Safeguarding Leads undertake regular
statutory training to support their duties. All members of staff are trained in the sGhool's Child Protection
Procedure. as defined wthin the guidance set by the Local Safeguarding Team, with annual refreshers.
A Safeguarding te8m is in place and consists of .
Designated Safeguarding Lead (Principal),
Two Deputy Designated Safeguarding Leads (Head of Care and the Schools Social Worker).
SENCO,
Nurse,
Vice Principal.
Head of Education (also the schools CEOP'S ambassador).
Refe￿alS and Inclusion Officer,
A Safeguarding Governor representstive (an Ex-Head of Care).
Both the Principal and the Schools Social Wother are registered with Social Work England. Th8 School Social
Worker works wlth all students that benefit from social work input. The School Nurse and our Referrals and
Incluslon Officer support with Safeguardlng related matters surrounding n8w pupils but has a particular focus on
assessment of pot8ntial new pupils and ensuring high attendance is maintained.
The school o)ntinues to use an embedded process of ￿cording all Safeguarding concems, 81ong vith all
incidents, on our Management Information System - CPOMS. This enables us to record. track and reflect on all
incidents and dearly recorded the follow up on all recordings.
The school continues to operate a behaviour approach in a stNctured mannar with dear boundaries and
expectations of behaviour in place. Alongside this. therapy and counsalling play a vital part in th8 work that we
do. Our SEND team has inc%eased over the last couple of years and plays a vital part In both the academlc and
social progress of all students. The school is on a journey to become a Trauma Informed school wlth tralning
having taken place for all staff, two staff memb8rs have completed the Trauma infomied diploma and a review of
behavi¢)ur policies havlng taken place as a result of this.
We celebrate diversity throughout the year. We have successfully been reissued our Rainbow Flag Award and
our Healthy Schools awar(l. We continue to have a Behaviour team that meets biweekly to discuss strategies to
support students with their behaviour. This a150 includes amending present practi￿ to support the adulls that
Work with our students. Inudents of bullying are kept to a minimum by vigilant staff who intervene when it looks
as though incidenls may occur. Any episodes of bullying are recorded. and work is undertaken with these
students to help them move forw8rd. Weekly culture iapital days enable us to not only educate our students bLrt
to also celebrate different cultures.
IncÉdents of studenvs Sexual harassment are recorded, addressed, tracked and action put in place in line with
recent Governrnent requirements. As a result of this incidents have signtficantly redu￿d. More generally all
behavioural incidents are also logged and tracked to support us in identifying times of the day that individuals or
groups find more challenging so we provide extra support to alleviate this.
We run a 24-hour currfculum to ensure that our students are educated throughout the day about how to keep
themselves safe, both in person and online. This input 15 undertaken through fornial lessons such as PSHE and
Humanities as wall as more informally via input from the adults that work with our students during the evening.
Various opportunities are offered to our students to ensure that their VOiGe is heard and vieV￿ gathered. For
example an annual questionnaire for sttidents and also for Iheir parentslcarers, regular meetings with the
students Link Work8r5, in therapy or counselling. iutor time. School Council, annual revipws and House
meets'ngs. We ensure that thelr views are hear(1 and responded to.

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Risk management
The Board of Trustees has overall re5ponsibilty for overseeing risk management and has a robust mechanism in
place, with detailed assessment and management of risk delegated to the Senior Leadership team.
The Trustees have a duty to identfy and review the risks to which the charity is exposed and to ensure
appropriate controls are in plac8 to provide reasonable assurance against fraud and error. These are identified ID
the Board through 8 risk review procedure and by committees. and an annual action plan put in place.
The most signrFicant financial risk concems the cost of Providing services nol being fully rnatched by the income
from fees. The acadernic year (202112022) saw us open our day provision and take in day students. In
September 2023 the DfE approved us to go from 72 students to 100. This has seen a significanl increase in our
student numbers and has financially supported Ihe school and enabled us to enhan￿ our offer. The key to
meeting the needs of our students is recruiting skilled and empathetic staff, this continues to be a challenge.
However, we know that this is not unique to Farney Close School. but a nationwide issue. Nonetheless, the staff
tention levels are remarkably stable which brings with it consistency and supports the students to be less
testing and as a result they show less Challenging behaviour.
The SLT are supported with half tennly visits for our Sthod Improvement Partn8r (SIP) and our National
minimum Standards Independent Visitor. Both parties produce reports from their visits with any advisortes so
support us moving fornard.
The Trustees believe that the school 15 as well pla￿d as any other organisation In our speciallsed section to
tackle risk and to continue to thrive. Our reputation as a provider of specialist care for students with the higher
range of social, emotional and mental health needs is well known within the local authorities that use us. The
school values all Famey Close employees and re¢ognlses the part that each member of staff plays In ensuring
that the whole team work together to meet the complex needs of our students.
ACHIEVEMENTS AND PERFORMANCE
The school has continued its joumey forward. Our last Educational Otsted Inspection was in the Autumn term of
2022 where they provided us with a "GOOD" rating in all areas. In March 2024 Ofsted Social Care carried out
their annual inspection wher8 we gained the rating of Outstanding in all areas.
In July 2024 we asked West Sussex to cary out a Safeguarding audlt. The results of thls were pleaslng with us
achieving the best possible grading.
Exam Results 2024
There were 10, year 11 leavers this year.
2 pupils achieved 5 GCSE passes at grade 4-9
1 pupil achieved 2 GCSE passes at grade 4-9
2 pupils achieved a GCSE pass at grade 4-9
All pupils achieved a GCSE grade in every subject tsken
20Yo of pupils achieved 4-9 in Biology
20¥0 of pupils achieved 4-9 in Maths
300kn of pupils achieved 4-9 In Physic5
40% of pupils achieved 4-9 in English Languag8

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
{CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
FINANCIAL REVIEW
Financial Management and Sustainabllty
Income is derived from school fees negotiated with sponsoring local authorities and funding bodies. The sthool's
budget is based on the school achieving a set number of students placed by various funding bodies.
The result of the operatlng plan for the academic year was a surplus on unrestricted funds of £463,493 (2023:
£256.575), with a transfer from restricted funds In respect of the outdoor classroom project of £22.861 (2023..
£nil) taking unrestricted funds to £6,215,566 (2023: £5.729.212).
Of the total funds. £4,389,146 (2023: £4.211,572) was in respect of bulldings and fixed assets. Free reserves as
the year end (net current assets in unrestrict8d funds less the revaluation reserve) was statad at £1,826.420
(2023: £1,570.575). The restricted funds increased by £32,622 (2023.. £24.266) as a result of pupil premium
monies and equipment grants and donations. Reslrsded funds of £85.557 (2023: £52,935) were camed forward
for expenditure in future periods.
A total of £362,067 (2023: £1,020,607) v￿5 invested in fixed asseis in the year. on major building vmrf(s and
projects, and upgrading of facilities.
The school has always had a cautious investment policy, with investments in short term bank deposits. The
retum on investments has remained very low in the current financial period wilh inlerest earned on funds of
£51,852 (2023.. £24.971). the charity has placed £1.300.000 on longer tem deposits with its bank8rs to improve
the Investrnent retum from cash deposits, which are inGluded within current asset investments.
The charity needs to maintain reserves to continue to improve the education and care services provided; and at
the same time provide a buffer lo cope wlth the increased uncertalnties over student numbers and funding.

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
PLANS FOR FUTURE PERIODS
Educalion
In Septemb8r 2023 the DofE agreed for u5 to increase our capacity from 72 to 100. This has enabled us to
increase our number of Key Stage 2 students as well as facilitating a new Inclusion unit which is now part of
our local offer to maintain places of our more Ghallenging students. The upcoming academic year will see us
embed this increase in numbers with the support of the Indusion dassroom.
To offer a curriculum that provides an education for those students who are Capable of obtsining at least 5
GCSES, whilst also enabling th8 Students, who are18ss able, to athieve. This particularly refers to vocational
8nd employability skills however we are also introducing English Literature at GCSE level and the Double
GCSE Science award.
Increase the opportunity for outdoor learning with outdoor clawooms and a forest schools, area. We have
three staff undertaking their training and a dedicated area on the school site for Forest schools. A new outdoor
lassroom was donated to provide further opportunities for outdoor leamlng.
We have applied for the "Trauma Informed School Award. which hope to achieve thi8 year (2024125).
Following the year end we havè increased our vocational offer and moved the school day from 5 lessons a day
to 6 in January 2025, wllh the 6th being a lesson dedicated to life skllls and wellbelng which will be offered to all
year groups.
We are 3150 looking to relocate our school library to a more accessible location for the students so that we Can
further enhance ￿ading across the school.
Care
We aim to continue to promote the importance of our residential experience in supporting students in leaming
through a 24-hour curriculum. Here the focus is on social and independent ski115 to enable the students to
b8come adulls that succeed in SOG18ty. Whilst this is a focus for our work with our residential pupils. we also
look to offer pastoral c2re to all our day pupils, supporting them in their joumey into adulthood. A new social.
emotional and learning recnrd has been launched (Sept 2024) to record all students progress in this area.
Premlses
Development of the sthool grounds is ongoing and forms part of the five-year maintenance and development
plan for the whole site. This will enhance the opportunities for enrt¢hment ond outdoor leaming. whllst it improves
the security and safety of the school site.
Internal refurb of residential accommodation is taking place to enable us to provide individual bedr00n￿ and
create a more homely, modem provision.

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
{CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charsty is Controlled by its governing document. the Memorandum and Arbcles of Association, and is
constituted as a Ilmited company by guarantee. as deflned by the Companies Act 2006.
The Trustees of the Charity meet regularly to ensure that all safeguards and checks are in place to prevent any
risks to the Company and to 8nsure that it complles wlth the regulations of the Charlties and the Companies,
Acts.
The Articles of Association were rewritten and adopted on 25 November 2024. Trustees now agree and accept
the accounts and, elect Truslee8 as and wh8n appropriate. When setting school fees, the school accepts its
responsibility to WOTk hard and offer value for money for referring Local Authorities. At the same tirne, it also
acknowledges ils duty to maintaln an appropTiately balanced provision for the students.
The Trustees, who are a15Q the Diredors for the purposes of company law, and who served during the yèar and
up to the date of si9nature of the financAal statements were:
(Resigned 16 November 2023)
(Resigned 31 August 2024)
(Resigned 16 November 2023)
JEBowry
S G Deane
M Gibrill
C S Johns
N M S G Bartholomew
AJSmlth
(Appointed 19 November 2024)
Followlng the year-encl, the followlng changes occurred in the Board of Trustees:
K B Larklns and S A Larkins served as trustees from 02 September 2024 to 19 November 2024.
RecNitmont and Appolntmant of new Trustees
The Trustees have explored the barriers in place locally and nationally on recruitment and retention and looking
at gett(ng the right people around the tabk. We have been successful in the recruitment of some new Trustees.
Having the right mix of people and sks115 on the board enables the Trust8es to have multiple perspectives, and
are able to debate issues robustly. and who then speak with unity of voice and message about the decisions
made.
On appointment all new Trustees are provided with an induction and infoTmalion pack and meet with the Chair to
talk about responslbillties
Induction and training of new Trustee5
The Board have access to training vla The Key for GovemoTS and the National Govemance Association. as well
as the opportunity ta attend in-house training with the school staff.

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Organlsatlonal structuro
The TFWStees meet at least six times a year. The TTUSt Board is responsible for ensuring that hlgh stsnd8rds of
corporate governance are maintained. It exerctses its powers in a largely strategic leadership role in the running
of the School.
The Board:
undertakes policy development and strategic planning.
ensures sound management and admini5tralion of the academy;
ensures th8t managers are equipped with relevant skills and guidance,.
ensures compliance with legal requirements-
establishes and maintains effective intemal controls"
manages the academy's financial, human and other resources (in particular control over the sp8nding
identified in the School's development plan);
monitors perfomiance and the achievement of objectives, and ensures that plans for improvement are
acted upon.
provides a framework for the School to be responsive to the needs of parents and the comrnunty:
sets the School's standards of conduct and values.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Trustees are responsible for preparing the accLJunts in accordance with applicable law end United Kingdom
Generally Accepted Accounting Practice.
Company law requires the Trustees to prepare accounts for eath financial year. Under that law the Trustees
have elected to prepare the 8ccounts In a¢cord8n¢e with the United Kingdom Generally Accepted Accounting
Practice (United Klngdom Ac¢ountlng Standards and applicable law).
The accounts are required by law to give a true and fair view of the state of affairs of the charitable company and
of the surplus or deficit of the charitsble C4)mpany for that period. In preparing those 8ccounts. the TNstees are
required to..
select suitable accounting policies and then apply them conslstently.,
• make judgement5 and estimates that are reasonable and pwdenL
state whether applicab18 accounting standaTds have been followed. subject to any material
departures di5dosed and explained in the accijunts
prepare the accounts on the going (x)ncem basis unless It is inappropriate to presume that the
tharitable company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at
any time the fillan￿al position of the charitable company and to enable them to ensure that the accounts comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of infomjation to audltor
So far as the trustees are aware. there Is no relevant infomiation of which the charitable companls audltors are
unaware. Additionally, the trustees have taken all necessary steps that Ihey ought to have tsken in order to make
them selves awar8 of all r818vant audit infomiation. arHJ trj establish that the company's auditors ar8 aware of
that infomiation.

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
This report was approved by the Board of Trustees. In approving the Tnjstees Annual Report. the Trustees also
approve the Strategic Report induded therein. in our GapaGity as Company Dir8Ctors.
CSJ
Trustee
Dated., 24 March 2025

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FARNEY EDUCATIONAL TRUST
Oplnlon
We have audited the financial statements of Famey Close School Limited for the year ended 31 August 2024
which comprise the statement of financial activities, the balance sheeL the statement of cash flows and notes to
the financial statements. including a summary of significant accounting policies. The financial reporting framewo
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. inGluding
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK 8nd Republic of Ireland
(United Kingdom Generally Accepted Accounting Practlce).
In our opinion, the financial statements:
give a true and fair view of the state of the chaiitable company's affairs as at 31 August 2024 and of its
incoming resoU￿e$ and appllcation of resources for the year then ended:
have been properly prepared in accordance vath United Kingdom Generalty Accepted Accounting Practice;
and
have been prepareil in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable
law. Our r8sponsibilities und8r those standards ar8 further dèscribed in th8 Auditols responsibilities for the audit of
the financial statsments section of our report. We are independent of the diarity in accordance wilh the ethical
requirements that ara relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and w8 hav8 fulfi118d our oth8r 8thical 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.
Conduslons rnlallng to golng concom
We have nothing to report in respect of the following matters in re18tion to which the ISAS (UK) require us to report
to you where:
Ihe trustees, use of the going concem basis of accounting in the preparation of the financial statements is not
appropriate. or
the Trustees have not disclosed in the finanrAal statements any identified material uncertainties that may cast
significant doubt about the charitls ability to continue to adopt the going con￿rn basis of accounting for
period of at least twelve months from the date when the financial statements are authorised for Issue.
Other Inforniatlon
Th8 Other information comprises th8 information included in the annual reporL including the trustees, report, other
than thè financial statements and our auditor's report thereon. The trustees are responsible for the other
information. Our opinion on the financial slatements does not cover the other infomiation and. eX￿pt to the extent
otherwise explicitty stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to re8d the other infomiatlon and. in
doing so. consider whether the other information is materially inconsistent with the financlal statements or our
knowledge obtained in the audit or othefwise appears to be materialty misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether the￿ is a material
misstatement in the financial Statements or a material misstatement of Ihe other infofftiation. If. based on the work
we have perfomied, we ¢on¢lude that there Is a materi81 misststement of this other information, we are required to
report that fact.
We have nothing to report in this regard.
Opinions on other mattèrs prescrfb8d by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audiL'
the information given in the trustses, report for the financial year for which the financial slatements are
prepared, whlch Includes the dlrectors. report and the strategic report prepared for the purposes of company
law. is consistent with Ihe financial stat8ments' and
the strategic report and the directors, report included within the trustees, report have been prepared in
axordance wth applicable legal requirements.
10-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF FARNEY EDUCATIONAL TRUST
Matters on which we are requlred to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in th8 course of the
audit, we have not identified material misstatements in the strategic report or the directors, report included within
the trustees. 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 2nd proper accounting records have nol been kept, (or returns adequate for our audit have not
been received from brdnch8S not visitsd by us)- OT
the financial statemenls are not in agreement with the accounting records and retum5,' or
certain disclosures of trustees, remuneration specified by law are not made: or
we have not received all the information and explanations we require for our audit.,
the Trustee5 were not entitled to prepare the financtal statements in accordan￿ with the small companies
regime and take advantage of the small companies. exemptions in preparing the trustees. report and from tt)e
requirement to prgpare a strategic report.
Extent to whlch the audit was consldered capable of detecling irrogularltlos. Includlng fraud
The obje¢tlves of our audit, in respect to fraud. are: to idenlrfy and assess the risks of material misstatement of the
financial statements due lo fraud. to obtaln sufficient appropriate audit evidence regarding Ihe assessed risks of
material misstatement due to fraud, through designing and implementing appropriate responsès. and to respond
approprialely to fraud or suspected fraud identified during the audit. However, the primary responsibility for the
preventlon 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 reguletions that could reasonably be expected to have 8 malerial effect on
the financial slatements from our general sector experience, and through discussion with the trustees and
other management (as required by auditing standards), and discussed with the trustees and other
managem8nt the policies and proc8dures regarding cornpliancg Wlth laws and regulations {s88 b81ow);
We identified the following ar6as as those most likely to have such an effect: health and safety., General
Data Protection Regulation IGDPR). fraud. bribery and corTuption', and employment law. Auditing
standards limit the requirèd 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. The identified actual or suspected non-compii8nce wa5 not sufficiently significant to our audit to result
in our response being identified as a key audit matter.
We considered the leg81 and regulatory frameworks directty applicable to the financlal ststements reporting
framework (FRS 102. the Companies Act 2006 and the Charities Act 2011) and the relevant tax
compliance regulations in the UK.
We considered the nature of the charitrfs operations, the control environment and financial perfomiance.
We communicated identified laws and regulations throughout our team and remained alert to any
indications of non-compliance throughout the audit-
We ￿nSidered the procedures and controls that the charity has estsblished to address risks identified. or
that otherwise prevent. deter and detect fraud; and how senior management monitors those programmes
and controls.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Where the risk was considered to b8 higher, we performed audit proCedU￿S to address each identified
fraud risk. These procedures included.. testing manual journals., reviewing the financial statement disclosures and
testing to supporting documentation,. performing analytical prO￿dUres,. and enquirtng of management. and were
designed to provide reasonable assurance that the finan(aal slatemenls were free from fraud or error.
11

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF FARNEY EDUCATIONAL TRUST
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some
material misstatements In the financial statements, even though we have properly planned and performed our audit
in 8Gwrdanc8 with auditing Standards. For example. the further removed non-compliance with laws and regulations
(irregularitles) is from the events and transactions reflected in the financial ststements, the less likely the inherentty
limited procedures required by audidng standards would identify It. The risk Is also greatér regarding i￿egular1t[eS
occurring due to fraud rather than error, as fraud involves intentional GOn￿alMent. forgery, collusion, omission or
misrepresentation. We are not resp)nsib18 for preventing non-complianc8 and cannot be 8xpected to detect non-
compliance wtth all laws and regulatlons.
Responslbilities of Truste8S
As explain8d more fvlly in th8 Statement of trustees. responsibilities. the trustees, who are also thè directors of the
chartty for the puw of company law, are responsible for the preparation of the financial ststements and for being
satisfied that they give a tnie and fair view. and for such intemal control as the trustees detemiine is necessary to
enable th8 preparation of financial statèments that are free from material misstatement. whether due to fraud or
error.
In preparing the financial statements, the twstees are responsible for assessing the chaiivs ability to Continue as a
going concern, disclosin9. as applicable. matters related to going concem and using the going concern basis of
accountlng. unless the trustees elther intend to liquldate the chaiitable compary or to cease operations. or have no
realistlc altemative but to do so.
Audltorfs re$pon$lbilltles for the audil of the financlal statements
Our objectives are to obtain rèasonable assuranc8 about whether the financial statements as a wholè are free from
rnaterial misstatement. whether due to fraud or error, and to issue an auditorfs report that indudes our opinion.
Reasonable assurano is a hlgh level of assurance bul is not a guarantee that an audit conducted in a￿OrdanCe
with ISAS (UK) will always detect a material misstatement when it exlsts. Misststements can arise from fraud or
error and are considered material if, individualty or in the aggregate, they could reasonably be expected to
influence the econornic decisions of users taken on the basls of these financial statements.
A further description of our responsibilities is available on the Flnanual Reporting Council's webslte at: https:11
www.frc.org.uklaudlt0rs￿SpOnSlbI1lties. This description foms part of our audltorfs report.
Use of our report
This report is made solety to tha charitable company's members. as a body. in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has b8en undertaken so that we might stste to th8 charitable
¢ompanYs members those matters we are required to state to them in an auditorfs report and for no other purpose.
To the fullest extent pemitted by law, we do not accept or assume responsibilty to anyone other than the charitable
company and the charitable company's members as a body, for our audlt worl for this report, or for the opinions
W8 hav8 formed.
Mr Mark Cummins
(Senior Statutory Audltor)
for and on behalf of TC Group
statutory Auditor
The Coutyard
Shoreham Road
Upp8r Beeding
Steyning
West Sussex
BN44 3TN
12-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestrlcted Rèstrlcted
funds
fvnd$
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Totsl
2024
2023
Notss
Income from:
Donafjons and legacies
Charitable activities
Investments
Other income
2,550
5,005,973
51,852
136
24.861
27,411
55.376 5.061,349
51,852
136
1,184
4,234,473
24,971
(596)
11,066
12,250
31.722 4.266,195
24,971
(596)
Total Income
5,060,511
80,237 5,140,748
4,280,032
42,788 4,302.820
Expendlture on:
Charitable adivities
Other expenditure
4.592,444
4,574
24.754 4,617,198
4,574
4,003,457
18,522 4,021,979
11
Total resources expended
4,597,018
24.754 4,621,772
4,003,457
18,522 4,021,979
Net Incomlng resources
before transfers
463,493
55,483
518,976
256,575
24.266
280.841
Gross transfers
belween funds
21
22.861
(22.861)
Net income for the
yearl Net movement in
funds
486,354
32,622
518,976
256.575
24,266
280,841
R8conclllatlon of funds:
Fund balances at 1 September
2023
5.729,212
52,935 5.782.147
5,472,637
28,669 5,501,306
Fund balances at 31
August 2024
23
6.215.566
85,557 6.301.123
5,729,212
52,935 5,782,147
The statement of financial activities indudes all gains and loss8s recognised in the year. All income and expenditure
derive from continuing activities.
The allocation of the comparative figurers be￿een funds is explained in the notes to these accounts.
The statement of financial activities also complies with the requirements for an income and 8XP8nditure account
under the Compani88 Act 2006.
The notes on pages 16 to 30 form part of Ihese financial ststements.
13-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
BALANCE SHEET
ASAT31 AUGUST 2024
2024
2023
Note5
Fixed assets
Tangible assets
14
4,389,146
4.211.572
Current assets
Debtors
Investments
Cash at bank and in hand
17
16
1,490,716
1.300,000
913,547
245.018
2,882,891
3.704,263
3,127,909
Credltorg: amounts falllng due within
one year
18
(1.765.439)
(1,505.874)
Net current assets
1,938,824
1.622,035
Total assets less cuThent liabilities
6,327.970
5,833,607
Creditors: amounts falling due after
more than one year
19
(26.847)
(51,460)
Net assets
6,301,123
5,782,147
The funds of the charlty
Restrlcted income funds
Unrestricted funds
21
22
85.557
6,215,566
52,935
5.729,212
6,301.123
5,782,147
The notes on pages 16 to 30 forni part of these financial statements.
The financial s18t8m8nts were approved by the Trustees on 24 March 2025
CSJO
Trustee
ns
Company registration number 00543113 (England and Wales)
14-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Cash flows from operating activities
Cash (absorbed byygenerated from
operations
28
(359.429)
477,354
Inv•sllng activities
Purchase of tangible fixed assels
PrO￿edS from disposal of tangible fixed
assets
Purchase of current asset investments
Interest re￿iVed
14
<362,067)
(1,020,607)
300
<1.300.000)
51,852
4.960
15
24,971
Net cash used In Invosllng actlvltig9
(1,609,915)
(990,676)
Net decrease in ca$h and cash equivalents
(1.969,344)
(513,322)
Cash and cash equivalents at beginning of year
2,882,891
3,396,213
Cash and cash èqulvalènts at ond of year
913,547
2,882.891
The notes on pages 16 to 30 form part of these financial statements.
The charity had no debt during the year
15-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Critl¢al a¢¢ountlng estimates and Judgements
In the application of the charity's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the Carylng amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associaled assumptions are based on historlcal exp6rience and other
factors that are considered to b8 relevant. Actual results may differ from these estimates.
The estlmates 8nd underfying assumptions are revlewed on an ongoing basis. Revisions to accounling
estimates are reco3nised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and fijture periods where the revislon affects both current and future
periods.
Accounting pollcle8
Charlty Infomiation
Famey Educational Trust Is a private company limited by guarantee incorporated in England and Wales. The
registered office is Bolney Court. Crossways, Bolney, Haywards Heath, West Sussex, RH17 5RD.
2.1 Accounting conventlon
The financial statements have been prepared in accordancE with the charivs articles. the Companies Act
2006 and thé Charities ACÉ 2011 and °Accounting and Reporting by Charities: Statement of Recommended
Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard
applicable In the UK and Republic of Ireland (FRS 102)° issued in October 2019. The charity is a Public
Benefit Entlty as defined by FRS 102.
The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary
amounts in these financial statements are round8d lo the n8arest £1.
The flnancial ststements have been prepared under the hlstorical cost convention.
2.2 Going concern
At the time of approving the financial statements. the Trustees have a reasonable expectation that the charity
has adequate resources to continue in operational exist8nc8 for the foreseeable fvtur8. Thus th8 Trustees
continue to adopt the golng concern basis of aco)unllng In preparing the financlal statements.
2.3 Charltable funds
Unrestrlcted funds are available for use at the dlscretlon of the Trustees in furtherance of thelr charitable
objectives.
Restricted funds are subject to specific condbtions 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.
2.4 Incoming resources
Income is recognised when the charty is legalty entitled to it after any perforniance condltions havè been met,
the amounts can be measured reliably, and it is probable that income will be received.
School fe85 are recx)gnised over th8 academic year to which the fees apply. on a tern by terrn basis.
Cash donations are re¢ognised on re¢elpL Other donations are recoJnlsed once the charity has been notified
of th8 don8tion. unless performance condltlons require deferral of the amount. IncLtme tax recoverable in
relatlon to donatlons r8ceived under Glft Aid or deeds of covenant recognised at the time of the donalion.
16-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng pollcies
(Contlnued)
Donated facilities and donated professional services are recognised in income at their fair value when their
e￿nomiC benefit is probable. it can be measured reliably and the Gharity has control over the item. Fair value
is determined on Ihe basis of the value of the gift to the tharity. For example the 8mount the charity would be
willing to pay in the open market for such facilities and services. A corresponding amount is recognised in
expenditure.
2.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequenlly measured at cost or valuation. net of
depreciation and any impairment losses. Addittons of individual items in excess of £1.000 including
Irrecoverdble VAT are capitslised.
Depreciatlon is recognised so as to vKite off the cost or valuation of assets le5S their resldual values ov8r their
US8ful lives on th8 following bases:
Freehold buildings
Plant and aquipment
Fixtures and fittings
Motor vehicles
2-10Vo per annum
20.10 on cost
20-33% on cost
20°h on cost
The gain or loss arising on the dlsposal of an assèt is detemiined as the difference betsveen the sale
prO￿ed$ and the carrying value of th8 asset, and is rgcogniséd in the statement of financial activities.
2.6 Impairnient of fixed assets
At each reporting end date, the charity revlews the carying amounts of its tangible assets to detemiine
whether there is any indicatlon that those assets have suffered an impainnent loss. If any such indication
exists. the recoverable amount of the asset Is estimated in order to detemiine the extant of the impairfflent
loss (if any).
2.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid
inv85tments with original matutities of three months or less. Also induded is a 2 year bond.
2.8 Financial instnjments
The charity has elected to apply the provisions of Section 11 'BasiG Financ￿1 Instrumerts, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its finanaal instruments.
Financial instruments are re(x)gnised in the charitys balance sheet vthen the charity becomes paty to the
Gontractual provisiorTS of the instrument.
Financial assets and liabilities are offset, with the net amounts pr8sented in the financial statements. when
there is a legally enforceable right to set off the recognised amounts and there is an intention to setue on a
net basis or to realise the asset and settle the liability simultaneously.
Basic finan¢lal assets
Baslc financlal assets. whlch include debtors and cash and bank balances, are Initially measured at
transaction price induding transaction costs and ar8 subsequent5y carried at amortised cost using the
effective interest method unless the arrangèment constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financlal assets
classified as re￿1vable within one year are not amortised.
17-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting pollcies
(Continued)
Baslc flnanelal Ilabllltles
Bas1¢ financial liabilities. including creditors and bank loans are initially recognised at transactlon price unless
the arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future payments dls¢ounted at a market ratè of interesL Financial liabllltles classlfied as payable
thin one year are not amortised.
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 classrfied as cu￿ent liabilities rf payment is due within one
year or less. If noL 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 of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
2.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are
re￿ived.
Terrnination benefits are recognised immediately as an expens8 when th8 tharity is demonstrably committed
to tenninate the employment of an employee or to provide tennination benefits.
2.10 Retlremont beneflts
R8tir8ment ben8frts to employees of th8 school are provid8d by th8 Teach8rs' Pension Scheme (TPS,) and a
further defined contiibution scheme for non teaching staff. The teachers, pension scheme is a defined benefit
scheme and the assets of both are held separatety from those of the school.
The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions ovèr
employees, worf(ing lives with the school in such a way that the pension cost is a substantlally level
percentage of cu￿ent and future pensionable payroll. The contributions are detemilned by the Government
Actuary on the basis of quinquennial valuations using a prospective benefit method. As stat8d in Not& 26, th8
TPS is a multi-employeT scherne and the school is unable to identify its share of the undertying assets and
liabilities of the scheme on a consistent and reasonable basis. The TPS is IheTefore treatéd as a defined
contribution scheme and the contribufjons are re¢ognlsed as they ere p81d each year.
The school also operales a defined O￿trIbUtion stheme in respèct of thè care and administration staff, which
is an autonenrolment scheme. The contributions are met from th8 employers and employees cnntributions and
the assets are held extemally to the company.
The school also has an unfunded defined b8n8fft ￿nstructive obligation to provide benefit arrangements frjr
two fomer members of staff whereby the school has committed to make pension payments and makè
healthcarè provision in the fiJtur8.
2.11 Taxation
The charity is an exempt charity within the meaning of sthedule 3 of the Charities Act 2011 and is considered
to pass tho tests set out In Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of
a charitable company for UK corporat6on tax purposes.
The school also provides education services which are classified as exempt for VAT purposes, so the Charity
cannot register for VAT. All costs are shown gross. as VAT incurred is irrecoverable.
18-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Donatlons and legacles
Unrestricted Restrieted
fvnds
funds
Totsl Unrestrictsd Restricted
funds
fvnds
Totsl
2024
2024
2024
2023
2023
2023
Donations and gifts
2,550
24,861
27,411
1,184
11.066
12,250
Chgrltable activltles
2024
2023
School fees within Gharitsble activities
Pupil Premium
5,005,973
55.376
4.234,473
31.722
5.061.349
4.266,195
Analysis by fund
Unrestricted funds
Restricted funds
5,005,973
55.376
5,061,349
For thg year ended 31 August 2023
Unrestricted funds
Restricted funds
4.234,473
31,722
4,266,195
Investments
Unrestrlcled Unrestrl¢ted
funds
funds
2024
2023
Interest receiv8ble
51.852
24,971
19-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
other income
Unrestricted UnTrstrieted
funds
funds
2024
2023
Net gain on disposal of langible fixed assets
Miscellaneous in¢ome
(817}
221
136
136
(596}
Charitable activities
2024
2023
Staff costs
Establishment
School expenses
14.252
890.752
2,878.698
737,683
2.648.237
3,783.702
3.385,920
Share of support costs (see note 10)
Share of goveTnance Gosts (see note 10)
765,277
68,219
591,705
44,354
4.617.198
4,021,979
Analysis by fund
Unrestricted funds
Restiicted funds
4.592,444
24,754
4,617.198
For the year ended 31 August 2023
Unrestricted funds
Restrlcted funds
4,003,457
18,522
4,021,979
Net movèment in funds
2024
2023
The net movement in fund5 is stated after thargingl(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets
19,860
179.620
4.574
14.720
125.602
817
-20-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Trustses
During the year fve Irustees claimed £5,255 (2023: six truste8s £2.713) of expenses which relate to training.
travel Costs and trustee meetings.
10 Support costs
Support Govarnance
costs
costs
2024
2023
Depreciation
Salaries
Staff training
Sundry
Telephone
Office costs
Motor expenses
Computer expenses
PayToII
Prof8ssional fees
Bank charges
Audit fees
Accountancy
Legal and professional
179,620
445.924
9,590
4,801
16,844
14,803
18.783
50.360
4,707
18.635
1,211
179,620
445,924
9,590
10,466
16,844
14,803
18,783
50,360
4,707
18,635
1.211
19,860
18,170
24,523
125,602
355,232
11,980
7,430
6,722
8,467
16.983
46,949
4,515
9,809
1.235
14,720
18,679
7.736
5,665
19,860
18,170
24,523
765.278
68,218
833,496
636,059
Auditorfs remuneration in relation to audit seNices was £15.600 {2023- £17,820) induding VAT.
11 Other expenditure
Unrestricted Unrestricted
funds
funds
2024
2023
Net loss on disposal of tangible fixed assets
4,574
-21

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
12 Employees
Number of employees
The average monthly number of employees during the year was:
2024
Numbar
2023
Number
School
Estsblishment
Administration
58
12
57
11
78
74
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
Benefits in kind- healthcare
Change in present value for pension obligation
2,683.736
263.909
268.422
18.625
(14,907)
2,435,388
236,711
213,004
22,573
(13,377}
3,219,785
2,894,299
The number of employees whose annual remuneration was £60,000 or more
were:
2024
Number
2023
Number
£60.000 - £69,999
£70,000 - £79,999
£90,000 - £99.999
The total employer pension contributions paid in respect of these employees was £42,197 (prior year..
£20.434).
The key management personnel of the charity cnmprise the Trust88s and the senior management team,
which comprised 4 roles (2023 - 4 roles). the Principal, Vice-Principal, Head of Education and Head of Care.
The total amount of employee benefits (including employer Nl and pension Gontributions) received by key
management personnel for their serrfices to the trust was £357,452 (2023 - £314.757).
13 Taxatlon
The Charity is exempt from taxation on its activities because all ts incom8 is applled for ch8rltable purposes.
-22-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
14 Tangible fixed assets
Frnehold
bulldlng8
Planl and Flxturos and
•qulpment
fittings
Motor
vehicles
Totsl
Cost
At 1 September 2023
Additions
Disposals
6,371,989
225,102
230.981
1,178
(15,297)
305,024
119,888
(48,111)
49.677 6.957,652
15,900
362.067
(9,500) (72,908)
At 31 August 2024
6,597,091
216.842
376,801
56.077 7,246,811
Depreclatlon and Impalmient
At 1 September 2023
Depreciation charged in the year
Eliminated in respect of dlsposals
2.333,272
120,810
207.106
171.772
7,636
45,384
(14,059) (44,475)
33.929 2,746,079
5,790
179,620
{9,500) (68,034)
At 31 August 2024
2,454,082
200,683
172.681
30.219 2,857.665
Carylng amount
At 31 August 2024
4.143.009
16,159
204,120
25,858 4,389,146
At 31 August 2023
4.038.717
23,855
133,252
15,748 4,211,572
15 Financial instruments
2024
2023
Carylng amount of financial assets
Instruments measured at fair value through profit or loss
1,300.000
16 Current asset investments
2024
2023
Short term deposits
1,300,000
17 Debtors
2024
2023
Amounts falllng due within one year:
School fees receivable
Other debtors
Prepayments and accrued income
1.416,955
44,272
29,489
221.807
23.211
1.490,716
245,018
-23-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18 Creditor8: amounts falling due withln one year
2024
2023
Fees in advance (see note 19)
Trad8 creditors
other creditors
Accruals and deferred income
1,613,411
78.187
50.690
23,151
1,315,503
92.842
40.090
57.439
1,765,439
1.505,874
19 Creditors: amounts falling due after more than one year
2024
2023
Future liabililies in respect of fomier staff obligations (s8e note
26)
26,847
51,460
20 Fees in advance
Fees in advance relate to the school fees invoiced in r@SP8Ct of the Autumn tenn, but which are due only on
the start of the next academlc year from 1 September. and represent income for the following autumn temi:
2024
2023
Fees in advance at 1 September 2023
Recognlsed as income in 2023-24 year
Fees invoiced prior to 31 August 2024. and carried fonNard to
2024-25.
1,315,503
1,327,785
(1.315,503) (1,327,785)
1.613.411
1.315,503
Fees in advan￿ at 31 August 2024
1.613,411
1,315,503
-24-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
21 Re8trlcted funds
The restricted funds of the charity comprise the unexpended balan(xs of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
Incomlng Resources
resources
expended
Transfer8 At 31 August
2024
September
2023
Pupil Premium
Vocational building &
equipment
Media suite
Fair Fax & Morrisons
Vaccination funding
Outd¢Y)r classroom
40.109
55,376
(24,754)
70.731
8.453
105
3,228
1,040
2,000
10.453
105
3,228
1.040
22,861
(22.861)
52,935
80,237
(24.754)
(22.861)
85,557
Prèvlous year:
Incomlng
resources
Resources
expended
Transfers At 31 August
2023
Septembor
2022
Pupil Premium
Vocational building &
equipmenl
Media suite
Education and childcare
Fair Fax & Morrisons
Vaccination funding
Coronation grant
11,859
35.011
(6.761)
40,109
6,487
105
7,277
(5.311)
8,453
105
150)
(6,000)
9,128
1.040
100
3,228
1.040
400
(400)
28,669
42.788
18,522
52.935
Th8 restrict8d funds include Pupil Premium monles provided for enrichment by local authorities.
Other grants included as Wocatkon81 building and equipment", 'Media suite., 'Education and childcare" and
'Fair Fax and Morrisons. represented grants to 5UPPOrt the purchase of equipment in support of studenvs
leaming and enrichment in the areas listed above.
Vaccinatlon funding was a specific granL
The grants received in respect of providing an outdoor dassroom have been used to fund outdoor equipment
which has been capitallsed. As such there is a transfer to dose Ihe restrlcted fund.
The Coronation Grant enabled celebration activities.
-25-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestrlcted funds
The unrestrided funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they m8y be used. These include
designated funds which have been set aside OLrt of unreslricted funds by the trustees for specsfic purposes.
At1
September
2023
Incoming Resources
resources
expended
Transfers At 31 August
2024
General funds
5,729,212
5,060.511
(4.597.018)
22,861
6,215,566
Previous year:
Incomlng
resources
Resources
expended
Transfers At 31 August
2023
September
2022
G8neral fijnds
5.472,637
4,260,032
(4.003,4571
5,729,212
23 Analysls of net assets between funds
Unr•strfct¢d
funds
2024
Re$trl¢t
funds
2024
Totsl
2024
Fund balances at 31 August 2024 ar• r8pres8nt8d by:
Tangible assets
Current assets
Long tenn liabilities
4.389,146
1.853,267
<26,847)
4,389,146
1,938,824
(26.847)
85.557
6,215,566
85,557
6,301,123
Unrestricted
fund3
2023
Restrlcted
funds
2023
Total
2023
Fund balances at 31 August 2023 are represented by:
Tangible assets
Currenl assets
Long temi liabililles
4.211.572
1.569.100
(51,460)
4.211,572
1.622,035
(51.460)
52,935
5.729.212
52,935
5,782,147
24 Capltal commltments
At th8 year end the Charity had no material commitments for capltal addltlons at the school (2023:£Nil).
-26-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
25 Operatlng lease commltment8
At th8 reporting end date the charity had outstanding commitments for future minimum lease payments und8r
non-cancellable operating leases. which fall due as follows".
2024
2023
Wlthln one year
Betsveen and five years
7,008
2,664
9.048
9,672
9,672
18,720
-27-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
26 Related party transactlons
Transaclions with relatsd parties
Durlng the ye8r the charity entered into the following transactions with related partles:
Retnuneration totslling £149.676 (2023 - £110,868) was paid to ftve {2023 - four) related parties connected as
lose family members to either Trust88s or S8nior Management P8T50nnel at any point during the year. All
were employed at the School on standard employment temis.
27 Pension costs
Pension arrangements
The school participate5 in the Teachers. Pension Scheme England and Wales (TPS) for academic and related
stsff.
The TPS is a defined-benefil sc*erne. The pension costs are &￿essed in accordance with the advice of an
independ8nt qualifi8d actuary. The latest actuarial valuation of the TPS related to the period ended 31 March
2016.
The pension Cost charge for the year ended 31 August 2024 was £207.714 (2023: £169.670). Conlributions
amounting to £22,089 (2023: £22,089) were payable to the scheme at the year end.
The school also operated a defined contribution scheme from July 2014, to meet the requlrements of auto
enrolment. The assets of this scheme are held separately from those of the company in an independently
adrninistered fund. The pension cost charge for the year ended 31 August 2024 was £45,429 (2023: £43,334).
An amount of £62 {2023.' £8.152) was due to this scheme at the yèar end.
The school has an unfunded constructive obligation to provide a defined bènèfit arrangement for one fomer
member of staff whereby the school has committed to provide b8n8fits. The provision is reGognis6d using
discounted cash flow methods, to provide a present value for the future beneffts payable by the company. the
commitrnent in respect of one fornier employee ￿aSeS in the next financial year.
The key financial estimates and assumptions are that the benefits will continue until the former employee
reaches the age of 89. increase at 2.75Y. per annum, and to reflect fair value. are discounted at 2.7°kn per
annum.
The total obligation at the year end was £36,183 (2023: £57,146). £4,000 is due wtthin one year and the
balance of £32,183 tn more than one year.
TeaGher8' Pgnslon S¢heme
Introduction
The Teachers, Pension Scheme (rps) is a statutory, contributory, defined benefit scheme, govemed by the
Teachers, Pension Scheme Regulations 2014. Membership is automatic for teachers in academy trusts. All
teachers have the option to opt out of the TPS following enrolment.
-28-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
27 Pension costs
(Contlnued)
The TPS is an unfttnded scheme to whlch both the member and employer makès wntributions. as a
percentage of salary. These contributions are credited to the Exchequer. Retirement and other pension
benefits are paid by publi¢ funds provided by ParliamenL
Valuation of the Teachers, Penslon Scheme
The Government Actuary, using normal actuarial principles, conducts a fornial actuarial revlew of the TPS In
accordance With the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published
by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial
scheme valuations are dependent on assumptions about the value of future costs, design of beneffts and
many other factors. The latest acluarial valuation of the TPS was Carried out as at 1 April 2024, with the
previous figures as at 31 March 2016. The valuation report was published by the Department for Education on
21 November 2023.
The key elements of th6 valuation and subsequent consultation are:
employer ¢ontrfbutlon r8tes sel at 28.68% (prevlously 23.68Yo) of pensionable pay {Includlng a 0.08Yo
employer administration charge)
- total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for Servi￿ to
the effective date of £262 billion (previously £218 billion). and notional assets (estimated future contributions
together with the notional investments held at the valuation datel of £222.2 billion ( previously £196 billion
giving a notional past service deficit of £39.8 billion (previously £22billion).
-the SCAPE rate, set by HMT, is used to deterniine the notional investment return. The current SCAPE rate is
1.70h (previously 2.4%) above the rate of CPI.
The employetrs pension costs paid to the TPS in the period amounted to £285,038 {2023.' £238,991)
A copy of the valuation r8POrt and supporknng documentation is on the Teach8rs' P8nsions website.
Under the definitions set out in FRS 102, thè TPS is an unfund8d multl-8mployer pension schem8. The
Academy Trust has accounted for Its contributions to the scheme as If It were a deltned contrlbutlon scheme.
The Academy Trust has set out above the infonnalion available on the scheme.
-29-

FARNEY EDUCATIONAL TRUST
FORMERLY FARNEY CLOSE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
28 Cash generated from operations
2024
2023
Surplus for the year
518.976
280,841
Adjustments for.
Investment income recognised in statement of financial activities
Loss on disposal of langible fixed assets
Depreciation and impairment of tangible fixed assets
(51.852)
4.574
179,620
(24,971)
817
125,602
Movements in working capital..
(Increaseyd8cr8as8 in debtors
IncreaseJ(decrease) in creditors
(1,245.698)
234.951
449,000
(353,935)
Cash {abs0rt)ed by)Igenerated from operatlons
(359,429)
477,354