Reglstered number.. 00758856
Charlty number: 307322
HIXON-STAINTON-TANNER TRUST
(A Company Limiled by Guarantee)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

HIXON-STAINTON-TANNER TRUST
IA Company LSmlted by Guarantee)
CONTENTS
Page
Relerence and Admlnlstratlve Detall8 of the Charlty, Its Trustees and Advlsers
Trustees, Report
Independenl Audltors. Report on the Flnanclal Statements
Statement of Flnanclal Acllvltle$
8-12
13-14
Balance Sheet
15
Statement of Cash Flows
16
Note$ lo the Flnancl81 Statements
17-36

HIXON-STAINTO￿TANNER TRUST
IA Company Llmlted by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. rrs TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2023
Trustees
D Drew. Trustee
C Hardiman, Chair
L Bedborouah, Trustee
V Wick&ns, Trustee
F Penlold, Truslee
K Wilkie, Trustee
P Bunche, Trustee
A Geary. Trustee (resigned 27 November 20221
Company reglslered
number
00758856
Charlty reglstered
number
307322
Reglstered offlce
Rookwood School
Weyhill Road
Andover
Hampshire
SP103AL
Company secretary
M Chapman
Indepondgnt auditors
Xeinadin Audit knmiled
Nightingale House
46-48 East Slfeel
Epsom
Surrey
KT17 1HQ
Bankers
Barclays Bank PLC
5 High Street
Andover
Hampshire
SP10 1LN
Page 1

HIXON-STAINTO￿TANNER TRUST
{A Company Llmlted by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
The Trustees. who are also directors lor ihe purpose ol company law and served as Governors ol the school,
have pleasure in presenting their report and the audited linancial slalemenls ol the company lor the year ended
31 August 2023 and conlirm they comply with the requirements ol th8 Charities Act 2011 and the Charrties
SORP IFRS 1021.
Reler&n¢6 and admlnlslrallve d8taS15
Relerence and adminislralive details are shown in the schedule ol members ol the board and professlonal
advisers on page l ol the financial slalemenls.
Th8 Governor8
C Hardiman
F Penlold
D Dr8W
L Bedborough
V Wickens
K Wilkie
P Bunche
A Geary (resigned November 27th, 20221
Each member is liable 10 a maxlmum ol £1 each in Ihe event thai the ¢ompany Is wound up.
Slru¢tur•, govèrnance and managgm•nt
The School's Governing Document is ils Memorandum and Arti¢les dated the 26th April 1963. This was last
amended on 181 February 1999, The School was governed by a Board ol Governors, up until the sale as detailed
below.
New members ol the Board are recruited and elected 10 the Board after due process by the oxisling Govornors.
Individual and collective Irainlng ol Governors is arranged lo meet the roquirements ol the Board.
The Board ol Governors Is charged with the overall management and control ol the Trust. Bolh Iho lull Board
and the Finance and Resource5 Sub-committee meet three limes a year and in addillon. regular meetings are
held by the Senior Management Team.
The day-lo-day running ol the School was delegated lo Ihe Senior Managemenl Team, whlch, durlng the year.
consisted ol the Headmaster, the Deputy Head, the Bursar and thè Heads ol School, as well as committees as
required lor the efficienl managèment ol the School.
The School. up until the sale, was a single ¢harilable and business enlily. It malnlained close links with oth8r
independent schools. local schools and Ihe community through sporting. educational, 8ocSal, religious and
charilable aclivilies, The major risks lo which the School have been 8xposed a5 identified by the Governors,
have been reviewed and systems established lo manage these risks.
Oblectlve8 and 8ctlvltle8
Tho school has lor some lime faced challenging Irading conditions and IhSs posllion was worsened by the
COVID-19 pandemie and recent economic pressures. The rising cost ol energy and other inllalionary pressures
during the year lo 31 August 2022 placed further strain on the school's finances.
In recent years the school explored a range ol oplions to restructure Ihe business ol the Charity and had not
found a solution lo these financial difficulties. The Trustees worked closely with the school's creditors lo source
appropriate linaneial, legal and insolvency advice and secure a(klitional funding lo allow the school lo trade
through the 2022-23 academic year, and there was a parallel strategy 10 lind an investor or merger partner lo
allow the school lo continue trading beyond this.
The Governors inslrucled VWV la specialist law firml lo approach potential investors %wth a view lo exploring
Page 2

HIXON-STAINTO￿TANNER TRUST
{A Company Llmlted by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
options such as a merger with another charitable independent school or a schools group or commercial 0￿rator.
They considered the Charity Commission's guidance and in particular the Commission's guidanc& on charity
Irusiees and decision making and managing conflic15 01 ini&resl and concludecl that il was reasonable and in th8
bosl interests ol 115 beneli¢iaries to und8rtak8 the search lor an invgslor and in the meantime lo continue lo
operate the school.
A wlenlial inveslor was identified In Autumn 2022. and discussions continued ar￿ culmlnaled In an agreemenl
to sèll ihe school lo the Inspired Learning Group ol schools. The sale complelod on March 9th, 2023 and is lully
rellecled in th& Current year's accounts lending August 31 sl 20231, hence the majority ol activity being shown as
disconlinued in the slalemenl ol financial aclivilies.
This report Tellecls tho performance aTrd aclivili8s ol Ihe school Ihrough th& 2022-23 academic year up until the
dale ol sale. Al the lime ol writing the Charity no longer owns or operates the school. The principal purpose ol
th¢ Charily nevertheless continues lo be lo support the lurther educational advancement ol pupils in th8 local
area.
Publlc ben8111
Awards and d18counts
Means.lesled award5 provide aecess lo an education ai the S¢hool lo chlldren whose families are unable lo
alford the lull lees, including thos¢ in periods ol hardship and poverty.
The School provided means.leslod awards to millgale lees lor prospeclive aThJ exisllng pupils. There were no
predetermined quotas lor the number ol awards, however, the financial lolal ol mean5, iesled awards would
normally nol exceed 10¥0 ol gross lee income. Bursaries lor prospective pupils were acfvertised a$ being worth
/0 ol lees. A bursary can sornglimès ba ollered in conjunction with a scholarship.
uplo 1000
In 2022.23, and lor Ihe p8rlod in which the Trust owned and operaled the school, means-iesled bursarles were
8Wafded lo 53 pupils, lolalling 11.0°/o ol gross lee income 12021-22, 48 pupils lolalling 10.V/• ol gross lee
incomol.
The avallabilily ol bursaries lor prospodive pupll$ and how lo apply lor them was advertised widely and on the
School's website.
The eriteria lor admission are based on whether the child was likely lo benelil from an education al the School.
Awards are madè tollowing an application (including a statèment ol financial circum51ancesl and reviewed by the
Bursar and the Headmaster. Decislons would be based on the degreè ol financial need (judged by income and
assei$l as well as social need Ilor example, lamily break up or problems al tho curr&nl school).
Children ol armed forces lamilies may have been in receipl ol a Continuity ol Education Allowanc& from the
MOD, which is not means-lesled but available lo all ranks.
Parents wlshing lo send their child lo the nursery land Fleceplion pupils who are under 51 were able lo lake
advantage of the Government's Early Years Entitlefnent IEYEI grant, which provided up lo 30 hours per week
free funding. Entitlement lo this scheme is not means-lesled lor the first 15 hours per week and is thereforè
available to those who can and cannot alford the lees. However, il is capable ol providing an opportunity lo
b&nelil people who cannot afford the lull lees.
Llnk$ with thé local communlly
All ol the lacililies were used throughout the School year by Clubs and groups in the wider Communfty and the
growth in lettings continued, especially lor the Sports hall, both on weekdays and weekends. We received a
steady stream ol enquiries and enjoyed a lake-up rate ol approximately 75°/.. We are known lo providè a very
good Service and were often asked to take on occasional sessions where other lacililies are not available.
Groups using Ihe facilities during the year included: 4 loolball clubs, a badminton club, three netball clubs. 4
Page 3

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
crickei clubs, Shuffles and Splints Dance, and the PelrDnas Sunday School. Our communty links continue wrth
Andover Choral Society, Andover Writers Guild and Andover Musical Theatre group.
A new partner - Barracudas - look over the summer camp provision and there are plans for this company to
0￿rate al Rookwood every Easter and Summer.
Other lettings included those lor the Swimming Pool. which was booked regularty by swim teachers over the
summer holiday period and families taking athanlage ol the pupil family Rookwood Swim lickel., Wessex Mad
Science and Thesbis Drama providing holiday workshops lor our pu￿lS and others,. and birthday paty lettings in
both Ihe Drama Studio and Sports hall.
Fund ra181ng performance and support for charltles
Significant Fund raising by parents in support ot the School is carried out by a separate charity called The
Friends ol Rookwood IFORI. This charity is a separate entity and reports on ils own activitie5. Trustees ensure
that members ot FOR are aware ol their respr>nsibililies under the Charity Commission guidance lor Charity
fundraising. The FOR will continue lo support the School under ils new ownership.
The PUF*ls themselves conducted a number ol fund-raising activities lor local. natlonal and inlemalional charilles.
STRATEGIC REPORT
Achievement and performanc8
The School provided education lor 221 children in the main School 12021-2022, 2281 and 37 in the nursery
12021-2022, 481. during the period in which the Trust owned and operated the school.
Rookwood School is delighted to share another trxcellenl year ol GCSE exam r8sulls with a 940/0 pass rate
(Grade 4 or atK)vel and 40 /0 ol grades being at Grade 7 or above, equivalent lo an A or A..
The results achieved in a genuinely non-seleclive school reflect the hard work ol the students aThY their teachers,
and the school's dedication lo academic and pastoral excellence.
Extra-currlcular actlvlll8$
Extra-curricular aclivilies, a strong and vibrant feature ol the School, continued during the yeaT both whilst the
Trust owned the School and post sale.
Flnanclal revlew
Thè School made an operating loss during the year with a net deltcit in funds of £3,320,700, compared wih the
2021-22 nel delicil ot £184.978. This reflected the nel impact ol the disposal ol Ihe school. in addition lo rising
costs not being mel by Ir￿reased lee income.
The School remains in demand within the Independgnl School Sector. offering highly qualified and experienced
leaching slatt al an affordable level in the market. The introduction ol the Sixth Form in September 2021 made
Rookwood School the only'all-through, Independent School in Ihe area, provKling education lor pupils aged 2 10
18.
Interest rate swap
The charivs interest rale swap liability reduced from £35,862 at the bèginning of the period to £1,660 on March
6th, 2023. on which dale it was cancelled and a gain of £34,202 was crystallised.
Reserves pollcy
The Governors cor15ider that tree reserves lo rneet all luture liabilities up until the closure ol the trusi should be
maintained Df which the current levels ol reserves are sutticient lor the current expected liabilities.
Prlnclpal rlsks and uncertalntles
Page 4

HIX0￿sTAIKfO￿TANNER TRUST
(A Company Llmhed by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
For the 2022-23 academic year, up until the sale ol the School. the School's Board of Governors was
responsible lor the ￿enIrtIe8t10n, assessment aThJ management of risk. assisted by the Senior Management
Team. Tho mapr risks idenliljed were rewewed arKJ sysiems and p￿￿edureS established lo manage the risks.
Risks were monrtored by the Senior IAanagemenl Team and the School Development Plan had been drafted
with these risks in mind. A formal review by the Govemors was undertakèn annually. The principal risks
Klenlilied are as lollows..
Competitive Flisk
In a highly competrtive mark81, tho SC￿?01 aimed 10 ensure thai there were procedure5 in place lor th8 effectlve
and timely assessment ol teaching and learning and Ihe overall pupil experience. The markoling Stratègy was
reviewed regularly10 ensure it responded lo changes in the market rAace,'
Sal8 Enwronmenl
Saleguarding procedures were followed al all limes In respect ol recruilmenl and the tralnlng of slaff and visitors
on sile. Appropriate employmeni policies and procedures were in place and regularfy reviewed. The Health &
Salety F)olicy was reviewed and updaied annually. The Health & Safety Commlttee. chalred by the Bursar
attended by a member ol the Board ol GoverTh)r5. met Ihree times each year.,
Compliance
The educaiion se¢tor ts hiohly regulated. The Govemors. gumled by the Senior Management Team, ensured that
Ihe School was up lo date wnh all 18quiremenls. The Schc*J malntain8d membershlp ol raI￿an1 bodle$ lo
ensure ihal il had access lo approwiate guthnce and support;
Legal & Financial
The School apFX•inled the appropriate professional ath'sors where necessary and ensufed that il was covered
by appropriat¢ inSUra￿e using sector specialist brokors..
External Ec0￿MiC Cor¥Jrtions
Econom¢ ¢ondrtions were cOns￿ered by Governors and lh8 Senior Management Team arKI factored Into the
risk review and School developmeni plan accordingly.
Key ¢onlrols adopted are as follows..
Regular meetings ol the lull Board ol Governors and Senior Management Team. as well as sub-
ommittee meetings, all ol which have lomal age￿laS and minutes rseorded;
Annual review ol the School Devel¢)prneni Plan as well as comprehgnsive budgellNJ, lorecaslirvJ aTr
review ol management accounts;
Comprehensive lormal written Frt)licies;
Cbar eonlrols ano aulhorisalion limits..
Saleguaiijing procedures for the proleetion of children; and
Critical incident planning and procedures in rAaee.
Plan$ for future perlods
After the sale ot the school, the charty will have a small res•Jual cash bala￿0 sutticient to cover only il's
Dngoing administration lor a number ol years, over wh￿h it wll be Ihe benelieiary ol a conlir¥Jent asset which will
cryslallise in the event thai the new owners ol the sclK)ol disFx)se ol certain propety assets within a certain
timeframe through what is known as an overage ckuse in the sale agreement. In ihe unlikely event that this
clause is triggered, the charty plans to use any cash pro¢éeds to further ils objecls within the educational sector.
FundralsSng standards Informatlon
Friends ol Rookwood, who on behalf ol Rookwood School. raise fu￿15 from members ol the public by organising
the events and activities delailed in this rep)rt and wa individuals, organisalions. community groups and
companies who fundraise on our beham. We comply ￿th legal requifemenls and adhere to the Inslilule ol
Fundraising C(Kie of Practice and guKJeline. We do not employ any third parties lo fundr￿Se ofi our behalf and
have not received any complwnls in rolation to our fu￿1raIsIng actiwties.
Page 5

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
We will promulgate our policy on sala and legal fundraising lo those individuals, groups and companies that we
know are lundraising lor us. These activities are reviewed and monitored by the board and individuals supported
and advised where appropriat8.
Coron8vlrus 19
The School quickly adapted 10 new processes and protocols required lo adhere lo the government guidelines
which included oslablishmonl ol year group bubbles and Ihe twice-a-week 18$1ing regime lor $taff and pupils.
The announ¢em$ni in January 2021 thai s¢h¢)ols had lo remain physically closed was an opportunity lor the
School lo ulilise technology lo continue on.line. the education ol pupi15 Ih&reby minimising the dlswplion lo their
education and development.
Dospile the challenging circumsiances, thè Governors congralulale the pu￿1$ on IheSr academlc pertormance
and thank the Academic Stall lor their continued commilmenl.
Importanl non adlustlng events 8ft•r the flnancS81 perbod
P05t the sale ol the school the Trust has remained in operation lo meel Ihe low level ol liabilitles that exist. The
Trust is not bging closed down due to the overage agreement in place that means Ihal some lund5 may b$ duè
back lo the Trust in the event ol propertylland on and In whieh the school op8rales being disposed ol. 11 this does
occur then the Trust will use these funds lo oller bursaries and support pupils In the local area..
Golng Concorn
Having found a buyer lor and disposed ol Ihe school, from March 9th 2023 the Trust no longer has any Iradlng or
other operations, and ils balance sheel has contracted lo a residual Cash amount al the bank and a low level ol
liabilities lo keep the Trust runnlno.
Sljtomonl of Regpon8lbllltl88
The Trustees (who are also tho dire¢lors ol, Rookwood School Trust Limited lor the purposes ol company lawl
are responsible lor preparing the Trusles" Report (including the Strategic Report) and the financial slalemenis in
accordance with Ihe United Kingdom Accounting Standards (Uniled Kingdom Generally A¢¢epl8d AccounlSng
Practice) and applicable law and regulations.
Company law roquires the Trustees to prepare Ilnanclal slalemenls lor oach financial year. Under company law
the Trustees musl not approve the financial slaiemenls unless they are satisfied Ihal they give a true and lair
view ol the slate ol aflairs ol the charilable company and ol 115 incoming resources and application ol resources,
including its income and expenditure, lor that pericxj. In preparing these tinancial slalemenls, the Trustees are
required lo..
select suitable accounting policies and apply them consislenlly.,
observe the melhods and principl¢s in the Charities SOFIP 2019 IFRS 1021..
make judgements and eslimales that are reasonable and prudent..
state whether applicable UK Accounling Standards have been followed subject lo any material departure5
di$elosed and explained in the financial stalem8nts'. and
prepare Ihe financial slalemenls on Ihe going ¢oncern basis unless it is inappropriate lo presume that the
charitable Company will continue in business.
The Trustees are responsible lor keeping adequate accounting records that are sutticienl lo show and explain
the charitable eompanls transactions and disclose with reasonable accuracy al any lime the financial position ol
the charilable company and enable them lo ensure that the financial slatemenis comply with the Companies Act
2006.
Page 6

HIXoN￿TAlNT0N-TANNER TRUST
IA Company Llmlted by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
They are also responsible for safeguarding the assets of the charitable ¢ompany and hence for taking
reasonable steps for the prevention and detection ol fraud and other irregularities.
In so far as the Trustees are aware..
there is no relevant audit information of which the charitsble company's auditor is unaware.. and
the Trustees have tsken all steps that they ought lo have taken to make themselves aware of any relevant
audit information and lo establish that the auditor is aware or that information.
The annual report was approved by the Iruslees of the charity on
and signed on ils behalf by..
ardiman
Chair of G
er
ors
Page 7

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HIXON-STAINTON-TANNER TRUST
Oplnh)n
We have aLKliled the financial slalemenls ol Hixon.Slainton.Tanner Trust Ilhe 'charitll lor the year erKJed 31
August 2023 which comprise the Slalemenl ol Financial Activities, the Balance Sheet, the Slalemenl ol Cash
Flows and the related notes, including a summary ol significant accounting policies. The financial reporting
framework that has been applied in their pr&paralion is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Siandard 102 'The Financial Reporting Standard ap￿1¢able in the UK
and Republic ol Ireland. Iunited Kingdom Generally Accepted Accounting Praclicel.
In our opinion the financial slalemenls..
give a true and lair view ol the state ol the charitable companls affairs as al 31 August 2023 and of it5
incoming resources and application ol resources, including ils income and expenditure for the year then
ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice-, and
have been prepared in accordance wlh the requirements ol the Companies Act 2006.
Basls for oplnlon
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 Audilofs responsibilities for the audit
ol the financial slalements section ol our report. We are independent ol the charitable company in accordance
with the ethical requirements that are relevant lo our audit ol the financial slalemenls in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe Ihal the audit evidènce we have obtained is
sufficient and appropriate to provide a basis lor our opinion.
Concluslons rèlating to golng concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statemenis is appropriate.
Based on the work we have pertormed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast signiticanl doubl on the charitable company's ability lo
continue as a going concern for a period ol al least Iwelve months from when the financial statements are
authorised for issue.
Our responsibiifties and the responsibilities ol the Trustees with res￿1 lo going concern are described in the
relgvanl sections ol this report.
Page 8

HIXON-STAINTON-TANNER TRUST
{A Company Llmlted by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HIXON-STAINTON-TANNER TRUST
{CONTINUED)
Other Informatlon
The other inlorrnalion comprises the information included in the Annual Report other than the financial
slalomenls and our Auditors, R8POrt Ihereon. The Trustees are responsible lor the other information contained
within the Annual ReFX)rt. Our opinion on the financial slalemenls does not cover the other information and,
except lo the extent gtherwise explicitly slated in our report, we do not express any lorm ol assurance conclusion
Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial stalemenls or our knowledge obtained in the course ol the
audit, or otherwise appears to bè materially misstated. 11 we identify such material inconsistencies or apparent
rllaterial misstatements, we are required to determine whether this gives rise lo a material misslalemenl in the
financial slalemenls themselves. 11, based on the work we have pertormed. we conclude that there is a material
misslalemenl ol this other information, we are required to report that fact.
We have nothing lo report in Ihss regard.
Oplnlon on other matters prescrfbed by Ihe Companles Ad 2006
In our op¢nion, based on the work undertaken in the course ol the audit..
the information given in the Trustees. Report including the Strategic Report lor the linan¢ial year for which
the financial slalemenls are prepared is consistent with the financial slalemenls.
the Trustees, Report and the Strategic Rèport have been prepared in accordance with applicable legal
requirements.
Matters on whlch we a￿ requlftd to report by exceptlon
In the light ol our knowledge and understanding of the charitable company and 115 environmeni obiained in the
course ol the audit, we have nol identified malerial misstalemenls In the Trustees. Report incIL￿ing Ihe Strategic
Repon.
We have nothing to report in respect of the following matters in relation lo whieh Companies Act 2006 requires
us to report to you rf. in Dur opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us.. or
the financial slalemenls are not in agreement with the accounting records and returns.. or
certain disclosures ol Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Page 9

HIXON-STAINTO￿TANNER TRUST
(A Comp8ny Llmlled by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HIXON-STAINTON-TANNER TRUST
CONTINUED)
Re$pon8lbllltle$ ol tru8lee8
As explaingd more lully in the Trustee5' Responsibilities Statement. the Trustees (who are also the directors ol
the charitable company lor Ihe purposes ol company lawl are responsible lor the preparation ol the linan¢ial
slalemenls and lor being salisli6d that they give a true and lair view, and for such internal control as the
Trustèes determine is necessary lo enable the preparallon ol financial slalemenls that are Ir88 trom material
misslalemenl, whether due lo fraud or error.
In preparing the financial slalemenls, the Trustees are responsible lor assessing the charitabl8 companls abillly
lo continue as a going concern. disclosing, as applicable, mallers related lo going concern and using the going
concern basis ol accounting unless the Trustees either intend lo liquKlale the charitable company or lo cease
operations, or have no rgalislic allernalive bul lo do so.
Page 10

HIXON-STAINT0￿TANNER TRUST
IA Company Llmited by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF HIXON-STAINTON-TANNER TRUST
(CONTINUED)
Auditors. responsibilitles for the audll of the financial slalemenls
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misslalemenl, whether due lo fraud or error, and lo issue an Auditors. Report that includes our
opinion. Reasonable assurance is a high level ol assurance, bul is not a guaranlee that an audit conducted in
accordance with ISAS IUKI will always delecl a material misslalemenl when rt exists. Misslalements can arise
from fraud or error and are considered material il. individually or in the aggregate, they could reasonably be
expected to influence the economic decisions ol users taken on the basis ol these financial statements.
Irregularities. including fraud, are instances of non-compliance wlh laws and regulations. We design procedure5
in line with our responsibilitie5, outlined above, lo detect malerial misstatements in respeci ol irregularities,
ineluding fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is
detailed below..
Wè obtained an understanding ol the legal and regulatory frameworks within which the Charitable Company
operates, focusing on Ihose laws and regulations that have a direct effect on the delerminalion ol material
amounts and disclosures in the financial slalemenls. The laws and regulations we considered in this context
were the Companies Act 2006, taxation legislation, employment legislation, Charities Act 2011, together with the
Charities SORP (FAS 1021. We assessed the required compliance with these laws and regulations as part ol our
audit procedures on the related financial slalemenl items.
In addition, we considered prowsions ol other laws and regulations that do not have a direct ettecl on the
financial slalemenls bul compliance with which rnight be lundamenlal to the charity's ability lo operate or lo
avoid a material penalty. We also considered the opportunities and incentives that may exist wilhin the charitable
company lor fraud. The laws and regulations we considered in this context were The Education Ilnd&pendenl
School Standards) Regulations 2014.
Aud(ting standards limft the required audit procèdures lo tdenlify non-compliance with these laws and regulations
to enquiry ol Governors and other management and InS￿Cli0n ol regulatory and legal correspondence, rf any.
We identilied the greatest risk ol material impact on the financial statements from irregularities, inclwjing fraud.
lo be with the completeness and accuracy ol income, and the override ol controls by management. Our audit
procedures lo respond lo these risks included enquiries ol management, the bursar and the Finance
Subcommittee about their own idenlilicalion and assessment tsl the risks ol irregularities, sample le51ing on the
posting ol journals, reviewing accounting eslimales lor biases, designing audit procedures over income,
reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspeclorale, and
reading rninules ol meetings ol those charged with governance.
Owing to the inherent limitations ol an audit, there is an unavoidable risk Ihal we may not have detected some
material misstatements in the tinancial slalemenls, even though we have prO￿rIY planned and performed our
audit in accordance with audiling standards. For example, the further removed non-compliance with laws and
regulatlDns lirregularitièsl is from th8 events and transactions reflected in the financial slal8menls, the less likely
the inherently lirnrted procedures required by auditing standards would identify it. In addition, as with any audit,
there remained a higher risk ol non-detection ol irregularities, as these may involve collusion, forgery. intentional
omissions, misrepresentations, or the override ot internal controls. We are not responsible lor preventing
noncompliance and cannot be expected lo detect non-compliance with all laws and regulations.
A further description ol our responsibilities for the audit ol the financial statements is located on the Financial
Reporting Council's website al.. www.1rc.or
.ukla
This description forms part ol our
Auditors, Report.
Page11

HIXON-STAINTON-TANNER TRUST
(A Company Llmlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HIXON-STAINTON-TANNER TRUST
{CONTINUED}
Use of our report
This report is made solely to the charitable compan¥s members, as a body. in accordance with Chaptèr 3 of Part
16 01 the Companies Act 2006. Our audil work has been undertaken so that we might slate lo the charitable
companls members those matters we are required lo slate lo them in an Auditors, ReFQrt and lor no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyon8 other than
the charitable company and it5 memb8rs, as a body, lor our audit work, lor this report, or lor the opinions we
have formed.
Jacquellne Taylor ISenSor Statutory Audltorl
lor ancl on behalf ol
Xelnadln Audlt Llmlted
Nsghlingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ
Date..
30 2024
Page 12

NLX0￿TAII1T0￿TAJlNER TRUST
IA Lknhed
STATEMEpif OF FINAPKLIL ACTivmES IIPKORPORATING INCOME EXPEP4DrruRE ACCOIINTI
F¢YI THE YEAR ENDED 31 AUGV5T 2023
Ttsiai
Ok￿1￿￿ opernik)
2023
Donal¥Jn$
Chariiablea￿rths
IW*134
l74
a311.910
1311.910
vesThents
1741
1748
7.5r
7.5
Tvtsl Inc¢¥n•
I￿59.907
1W9J07
3.342.(
ExpDn¢Jtturn ¢JTh'.
ChariWe acir4w
1461ffi31
1463.667
an8.W 17*252
2.461,￿1
in8.W &7M252
N•1 b•lpr• r•t
12m61
1602,124)
{SJ651 12.747.118)
1fj04.160)
{fj01,16D)
R7$3.[￿) I2.753.￿5)
I￿248}
Ngt Invosimen
Nki Mo¥•rrAN In luhd*
bolor• othr recognlmd
I8￿1) laW242)
(43572431 13J57343)
13962481
Olher rwnl••d
Oiher gains
211270
211.270
Page 13

H1X0￿$TA¥NTo￿TANNEII TRUST
IAC•Mp•Ay Lknlled byOu•rnnle•l
STATellENT OF FINANCIAL ACTIVITIES IINCORPOHATIP4G INCOME ANO EXPENDrrvRE ACCOVND ICOMTINUEOI
FQR THE YEAA ENDED 31 AUOLIST 2023
R•Atrl¢i•d Unreilrlctsd
fun
lund*
2023
CoThtlDuSng DIKDThtlnu•d
opvr¥lltyn5
opvr•llon
20¥J
Tot*1
fvnds
2V23
D*¢JTrlinu6d
r￿a
Oper*￿n5
2022
2022
2022
Net rnovemènt In htTrd•
18,M11 13.312,699)
13,320,700) {IW20,7
(184.978)
1184,9781
R•toMell4110Tr DI lundj..
Toial lunda bttsughl Its￿vard
Nèt mLlvèm•nt in lur
8,001
3,3n,192
<8,0011 13,312ffj9>}
3,380,193
13,320.700} (3.320,7rx))
a565.171
I1￿,978)
3.￿ ryi
(184,9781
YoWIuDd• lorword
59,4WJ
59,493
$9.493
138Q, 193
3.380, 193
Thè &aterneniol Fina￿￿lAdI￿l￿s irtlLthy all gain* arwj th$gs th•￿ar.
Thè noiftgt￿ rAggB 17 10 38 Irjmi pArtol thAsè linwial8t#tWllon
Pao8 14

HIXON-STAINTO￿TANNER TRUST
{A Company Llmlted by Guarantee)
REGISTERED NUMBER: 00758856
BALANCE SHEET
AS AT 31 AUGUST 2023
2023
2022
Note
Flxed assèls
Tangible assets
5,714,875
5, 714,875
Current assets
Stocks
Debtors
Cash al bank and in hand
8,463
856, 144
2,030
18
108,108
108,108
866.637
Creditors.. amounts falling due within one
year
19
(48,6151
(1,634,777)
Nel current assets I Ilabllltes
59,493
(768, 140)
Total asse18 less current Ilabllltleg
59,493
4,946, 735
Cred(tors.' amounts falling due after more
than one year
20
(1,566,542)
Net assets excludlng penslon asset
59,493
3,380, 193
Total nèt a$sels
59,493
3,380, 193
Charlty funds
Restricted lund5
Unreslricled funds
23
23
8.001
3,372, 192
59,493
Total funds
59.493
3,380, 193
The Trustee5 ackno%￿edge their responsibilities lor complying with the requirements of the Act with respect lo
accounting records and preparation of financial statements.
The
re approved and aulhorised lor issue by the Trustees and si
on their behalf by..
rough
(Trusleel zl
Ichair
Dale..
Gov
-, 2024
The notes on pages 17 10 36 form part ol these financial slalements.
Page15

HIXON-STAINTO￿TANNER TRUST
{A Company Llmlted by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2023
2023
2022
Cash flows from operatlng actlvltleg
Net cash used in operating activities
13.722.924)
(333,014)
Cash flows from Investlng actlvltiès
Dividends, interests and rents from investments
Proceeds from the sale ol tangible fixed assets
Purchase ol tangible fixed assets
2,748
5,686,386
19.5001
163
(63,433)
Net cash provlded byl{u$ed Inl Investlng actlvlllgs
5,679.634
{63,2701
Cash flows from flnanclng actlvltlgs
Cash inllows from new borrowing
Repayments ol ttsrrowing
158,284
{95.469)
{1.850,632)
Nel cash {used Inllprovlded by flnanclng actlvltles
(1.850,632}
62.815
Change In cash and cash equlvalenls In the year
Cash and cash equivalents at the beginning ol the year
106,078
1333,469}
335.499
2,030
Cash and cash gqulvalents at the end of the year
108.108
2,030
The notes on pages 17 to 36 form part of thes8 financial slalements
Page 16

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
General Inforniatlon
The charty is a company limited by guarantee incorporated in England and consequently does not have
share capital. Each ol the Iruslees is liabte lo contribute an amount not exceeding £1 towards the assets
ol the charity in the event ol liquidation.
The address of its registered office is..
Rookwood School
Weyhill Road
Andover
Hampshire
SP10 3AL
Accountlng pollcles
2.1 Ba$ls of preparatlon of flnanclal statements
The linaneial slalements have been prepared in accordance with the Charities SORP IFRS 1021
Aecountlll9 and Reporting by Charities.. Stalemenl ol Recommended Practice applicable to charilios
preparing their a￿o￿nIS in accordance with the Financial Reporting Standard applicable in the UK
and Republic ol Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic ol Ireland IFFIS 1021 and the Companies Act 2006.
Hixon-Slainlon-Tanner Trust meets the definition ol a public benefit entity under FRS 102. Assets
and liabilities are initially recognised al historical cost or transaction value unless olheTwise slated in
the relevant accounting wlicy.
The financial slalemenls are prepared in sterling, which is the functional currency of Ihe Charity.
monetary amounts in these financial slalements are rounded lo the nearest £.
2.2 Golng concern
The Governors regularty assess whether the use Df going concern is appropriate and whether there
are any material uncertainties related lo events or conditions that may cast doubl on the ability ol the
Trust lo continue as a going concern.
The Governors regularly consKler the level ol funds held and the expected level of expenditure lor a
period ot twelve rnonlhs from linalisation ot the financial slatemenls. The Governors are able lo
determine that il remains appropriate lo continue lo adopt Ihe going concern basis in preparing the
financial slalemenls, as outlined in the Statements ol Governors, responsibilities.
Page17

HIX0N.STAI￿0N-TANNER TRUST
(A Company Llmlled by Guarnnlee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accountlng pollcles Icontlnuedl
2.3 Income
Fees receivable and charges lor services and use ol premises are accounted for in the period which
the seNice is provided. Fees receivable are slated al lair value and after deducting allowances,
scholarships and other remissions granted by the school from rts unreslricled funds.
Donations and legacies
Donations, gifts and legacies are recognised where there is enlillement, probability of reeeipt and the
amount can be measured with sullicienl reliability. Income received lor the general purposes ol the
Charity is included as unreslricled funds. Income lor activities restricted by the wshes ol the donor is
taken lo reslricled funds where these wishes are legally binding on the trustees.
Delerred income
Fees are charged in a(fvan¢e ol the new school term aThY the income is deferred to the first day ol the
new term.
Other income
Other income including investment income is accounted for on an accruals basis.
Other incorne is recognised in the period in which il is receivable and lo the exfent the goLxJs have
been provided or on completion ot the service.
2.4 Expendlturo
Expenditure is recognised once there is a legal or conslrucliv& obligation lo Iransler economic benel(t
to a third paty, il is probable that a Iransler ol economic ￿neIrtS will be required in settlement and
the amouni ot the obligation can be measured rellat￿y. Expenditure is classified by aclivily. The costs
ol each activity are made up ol the lolal ol direct costs and shared costs, including support costs
involved in undertaking each aclivily. Direct costs attributable to a single activty are allocated directly
lo Ihal aclivily. Shared costs which contribute lo more than one activity and support costs which are
not attributable lo a single activity are 8PPOrtioned be￿een those activities on a basis consislenl with
the use ol resources. Central staff costs are allocated on the basis of lime spent. and dèpreciation
charges allocated on the portion ol the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charills objectives. as well as any associated 5UPPOrt costs.
Page18

HIXON-STAINTON-TANNER TRUST
(A Company Llmtled by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accounling policies (conlinuedj
2.4 Expendlture {¢ontlnued)
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity
lo the expenditure. All expenditure is accounted lor on an accruals basis and has been classified
under headings that aggregate all costs related to the category. The irrecoverable element of VAT is
included with the item ol expense lo which il Telate5.
Charitable acliwties
Charilablo expenditure comprises those costs incurred by the Charity in the delivery ol ils activities
and seNices lor ils beneficiaries. It includes both costs that can be allocated directly lo such activities
and those costs of an indirect nature necessary lo support them.
Grant expenditure
The school offers a number of bursaries each year lo its pupils. All families in receipt of a bursary are
means lesled wlh the level of bursary awarded dependent on the family income and assets. All
bursaries are subject lo bi-annual review. In addition the school otters a small nuM￿r ol scholarships
to pupils lor performance in the senior school entrance exam.
Aedundancy and lem?inalion paymenls
Redundancy and termination payments are Charged against the Statement ol Finan¢ial Activities in
the year in which the employees leave.
2.5 Governan¢e costs
These include the costs attributable to the charity's compliance with constitutional and slalulory
requirements, including audit, strategic management and governors. meetings and reimbursed
expenses.
2.6 Government grant$
Government grants are credited to the Slalemenl of FinanciJ Activities as the Yelated expendrture is
incurred.
2.7 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charily,. this is normally upon nolilication ol the interest paid or payable by th
institution w(fh whom the funds are deposrted.
2.8 Tanglble flxod as$et$ and depreclallon
Tangible fixed assets costing £1,500 or more are capilalised and recognised when future èconomic
benefits are probable and the cost or value of the asset can be measured r81iably.
Tangible fixed assets are initially recognised al cost, less subsequent accumulated depreciation and
subsequent accumulated impairment losses.
Where donations are received towards the cost ol fixed assets, the amount ol the donation is Ireaied
as reslricled funds. The equivalent proportion ol the annual depreciation charge ol the assets
concerned is debited lo restricted funds.
Page 19

HIXON-STAINTON-TANNER TRUST
(A Comp8ny Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting pollcles {continued)
2.8 Tanglble flxed assets and depreclatlon {contlnuedl
Depreciation is charged so as lo allocate the cost of langible fixed assets less their residual value
over their estimated useful lives
Depreciation is provided on the following basis..
Nfjolor vehicles
FixtLJres and fittings
Computer equipment
Temporary buildings
Propety improvements
Tractor & garden equipment
Freehold propety- boarding
houses
Freehold propety- main sile &
bursary
20V¢ slraighl line basis
10Q/o slraighl line basis
25°/r* slraighl line basis
4Vts straight line basis
10*/p slraighl line basis
2510 slraighl line basis
1 wo Straight line basis
see below
The cost of land included in the boarding houses t*Jl not depreciated is £345.000.
The school operates a continuing maintenance program on the freehold propety main site, bursary,
catering cottage and boarding houses and this is undertaken lo ensure there is no significant
diminution in the value ol the Iroehold propety. Al properties are remewed on an annual basis lor
impairment with any diminution recorded in the slalemenl ol financial activrties in the pericLI incurred.
The trustees believe the carrying value ol the main slte and bursary within the accounts is
signilicanlly lower than the most recent valuation undertaken in April 2022 and therefore any
provision lor depreciation would be immaterial and is therefore not provided within the accounts.
2.9 Stocks
Food stock is valued al the lower ol cost or nel realisable value.
2.10 Cash at bank and In hand
Cash and cash equivalent5 comprise cash on hand and call deposits, and other short-lerm highly
liquid investments that are readily convertible to a known amount of cash and are subject lo an
insignilicarit risk of change in value.
Page 20

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accounllng pollclos Iconllnued}
2.11 Flnanclal Instruments
classif￿allon
The Charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls. and
Section 12 '0iher Financial Instruments Issues, ol FRS 102, in full, lo all ol its financial inslrumenls.
The Charity has financial assets and liabilities of a kind Ihal qualrfy as basic and other financial
instrument issues.
ReCognit￿n and measurement
Trade and other debtors and creditors are initially recognised al transaction value and subsequently
measured al their settlement value.
Bank loans are initially recognised al their transaction value and subsequently measured al amortised
cost using the effective interest rale method. Interest expense is recognised on the basis of the
effective interest melh¢xl and is included in interest payable and similar interest charges.
Derivatives are initially recognised al lair value on the date a derivative contract is entered into and
are subsequently re-measured lo fair value al each reporting dale. Fair value gains arKJ losses are
recognised in the financial slalemenls in accordance with FRS 102.
Imp8innent
Assets are assessed lor indicators ol impairment al each reporting end dale. Assets are impaired
where the objectwe evidence thai, as a result ol one or more events that occurred after the instial
recognition ol the asset, the eslimaled lulvre benefit has been affected. The impairment loss is
recognised in Statement ol Financial Aclivilies.
2.12 Flnance leases and hlre purchase
Leases in which substantially all the risks and rewards ol ownership are retained by the lessor are
classified as operating leases. Rentals payable under operating leases are charged in the Slalemenl
of Financial Activities on a slraighl line basis over the lease term.
2.13 Penslons
Retirement benefit5 lor Teaehing Staff ol the School are provided by the Avwa Pension Trust lor
I￿lePendent Schools IAPTISI. 11 is a delined contribution pension scheme which can be used by all
rnember Schools of the Independent Schools, Bursars Association IISBAI. 11 is sel up as a part of
Aviva's -master Trust"
a trust-based pension arrangement managed by independent prolessional
Trustees.
For Support Staff, contributions are paid lo NEST as part ol a defined contribution scheme.
In accordance with FRS 102. both schemes are accounted for as defined conlributK)n schemes and
contributions are charged to thè Statement ol Financial Activities when payable. Differences, If any,
be￿een contributions payable and eontribulions actually paid in the year are shown as either
accruals or prepayments at the year end.
Page 21

HIXON-STAINTON-TANNER TRUST
IA Company Llmltgd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accountlng policies Icontlnuedl
2.14 Redundan¢y and termlnallon payments
Redundancy and lerminalion costs are recognised as an expense in the Sialemenl ot Financial
Activities and a liability on the Balance Sheet immediately al the point the Charity is
demonstrably commthed to either-. lerminale the employment ol an employee or group ol employees
before normal retirement date,. or provid& lerminalion benefits as a resuh ot an olfer made in order
lo encourage voluntary redundancy. The Charity is considered lo be demonstrably committed only
when it has a deiailed lormal plan lor the termination and is wilhoul realistic possitm'lity ol withdrawal
from the plan.
2.15 Fund accountlng
General funds are unrestricted tunds which ar6 available lor use al the discretion ol the Trustees in
lurtheranee ol the general objectives ol the Charity and which have not been designated lor other
purwses.
Reslricled lunds are funds which are lo be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity lor particular purposes. The costs ol raising and
administering such funds are charged against the spècilie tund. The aim and use ol each reslricled
fund is sel out in th& notes lo the financial slalemenls.
Crltlcal accountlng esllmatgs and areas of ludgment
Eslimales and judgments are continually evaluated and are based on historical experience and other
laclors. including expectations ol lulure events that are believed lo be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charity makes eslimales and assumptions concerning the future. The reSu￿1n9 accounting estimates
and assumptions will, by delinilion, seldom equal the related actual resutts. The eslimales and
assumptions that have a significant risk of causing a material adjuslmenl to the carying amounts ot
assèts and liabilities wlhin the next financial year are discussed below.
Hedging
Assumptions have been made by the bank in caleulaling the value ol the interest rale swap arKI collar al
thè year end.
Critical areas ol judgement
A prowsion lor impairment ol fee debtors is established when there is objective evyjence that the amounts
due will not be collected in line with the usual lee collections due to financial difficulty Ot the parents.
Depreciation
Depreciation is a significant accounting estimate within the accounts. Depreciation rates are based on the
useful expected lives ol each asset. The Trustees review the assets to ensure Ihat their policies remain up
lo dale, accurate and in line with previous expectations lo confirm that depreciation is not accelerated or
under provided.
Page 22

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guaronlee)
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 AUGUST 2023
School lee8
2023
2022
Gross lee5
Less.. Scholarships and Bursaries granted
1,932,332
3,615,328
{321.634} (580,363)
1,610.698
3,034,965
In¢omo Irom donatlon8 and legacle8
Re8trlctod Unre8trlcted
lund8
lund•
2023
2023
Total
fund•
2023
Total
lunds
2022
Donations
625
625
22,359
Tola12022
21,074
1,285
22,359
Income Irom charll8bl• actlvltl••
Unre8trlcted
lund$
2023
Total
funds
2023
Total
lunds
2022
Fees receivable
Extra subjects and disbursements
Holiday Camps aclivilies
1.611,436
244,698
1,611,436
244,698
3,037,527
250,027
24,356
1,856,134
1,856,134
3,311,910
Total 2022
3,311.91Q
3,311,910
Page 23

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarnnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Investment Income
Unreslrl¢lod
fund8
2023
Total
fundg
2023
Tolal
lunds
2022
Invesimenl Income - bank interest
2,748
2.748
163
Total 2022
163
Other Incomlng r080urce8
Unr•$trlct8d
funds
2023
Total
lundi
2023
Total
lunds
2022
Governm8nl grants
7,572
rolal 2022
7,572
7,572
Analy81s of expendlluro on ¢harllèble actlvltle$
Summary by fund type
Re8trlcted Unro8trlcted
fundg
lunds
2023
2023
Total
2023
Total
2022
Educational activities
2,036
2.461,631
2,463,667
3, 738,252
Tola12022
25,593
3,712,659
3, 738,252
Page 24

HIXON-STAINTON-TANNER TRUST
{A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
10. Analysls of expendlture by actlvlties
Actlvllles
undortaken
dlrectly
2023
Total
fund$
2023
Total
lunds
2022
Educational activitie5
2,463,667
2,463.667
3, 738,252
Tota12022
3. 738.252
3,738,252
Analysls of dlrecl costs
Educatlonal
actlvllles
2023
Total
funds
2023
rolal
funds
2022
Staff costs
Depreciation
Academic costs
Activities and disbursements
Employment o)sls
Establishment Costs
Repairs and mainlenan¢e
Office and IT expenses
Advertising and marketing
Equipment hire
Motor expenses
Legal and professional costs
Interest payable
Bad d8bls provided for
Governanee costs
1.518,863
38,670
137,497
93,336
11,333
138.122
61,548
43.248
20,288
15,093
68,173
267.691
70,997
133,6121
12.420
1,518,863
38.670
137,497
93,336
11.333
138,122
61,548
43,248
20,288
15,093
68,173
267,691
70,997
133,612)
12.420
2,642,820
75, 754
194,671
74,824
21,586
167,815
119,894
98.291
57.732
33,980
83,053
58.169
101,383
8,280
2.463,667
2,463,667
3.738,252
Total 2022
3,738,252
3,738,252
Page 25

HIXON.STAINTON-TANNER TRUST
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
11. Other galnsllo8888
2023
2022
Movement in valuation ol financial d8rivalives
136,5431
(211,270J
The charSly had loan lacllilies avallable lolalling £1,649,015 al th? end of th8 prev+ous Ilnanclal year.
Those loan lacllilies were repaid upon the sal8 ol the school. There were hodging inslrurnenls or ini¢ro$1
rale swaps in place lo protect the charily against increases in interest rates in line with the Charills
inlaresl ral8 management policy. The hedging instruments were measured al lair value and were
recognised in the financial slatemènis in aeeordance with Charities SORP IFRS 1021 and FRS 102. The
interest rale swap tacility was settlod upon the repaymeni ol the bank loans.
12. Audltorn. remuneratlon
2023
2022
Foes payable 10 the Charity's audilof lor the audll ol the Charills annual
accounts
8.700
8,280
13. Slalf costs
2023
2022
Wages and salaries
So¢ial se¢urlty costs
Contribution 10 defined conlrlbullon pension schemes
1,215,231
103,108
200,524
2,074,514
169,679
398,627
1,518,863
2,642,820
The average number ot persons employed by the Charity during the year was as follows..
2023
No.
No.
Teachiw and ancillary slaff
Adminislralivelclerical slaff
Pastoral stall
62
16
57
14
40
114
iii
Page 26

HIXON-STAINT0￿TANNER TRUST
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
13. Slaff costs (contlnued)
The number ol employees whose employee benelils (excluding employer pension costs) exceeded
£60,000 was..
2023
No.
2022
No.
In the band t60.001 £70,000
In the band £80,001 £90,000
The lolal employee benefits ol the key management p8rsonnel of the charity were £182,362 12022..
£304.8191.
14. Trustees, remuneratlon and expenses
During the year, no Trustees received any remuneration or other benefits f2022- £NIL).
INO trustees paKI any luilon lees lo the Charity in 2023 or 2022. Key management paid a lolal of £9,420
12022.. £2.0081 in lution lees lo the Charrty at open market value (less bursaries that are available to all
staff).
15. Related party transactlons
During the year the charity made the following related party transactions..
Friends of Rookwood
(Friends ol Rookw(x)d are a parent run charity who fundraise on behalf ol Hixon-Siainton-Tanner Trnst.
Hixon-Slainlon-Tanner Trust collect donations on behalf ol the Friends ol Rookwood and pay lor
expenses on their beha11, all ol which are reimbursed. Al the balance sheet date the amount due to
Friends ol Rookwood was £nil12022 due from FOR.. £1,737).
16. Taxo1Son
The charty is a registered charity, and as such 15 entitled lo certain lax exemptions on income and profits
from inveslmenls, and surpluses on any trading activities carried on in furtherance of the charity's primary
objectives, il these profits and surpluses are applied solely for Charitable purposes.
Page 27

HIXON-sTAI￿r0N-TANNER TRUST
IA Company Llmlted by Guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
17. Tanglble flx8d assets
Freehold
Plant and
Offl¢e Temporary
property equlpment equlpmenl
bulldlngs
Tolal
Al 1 September 2022
A¢*litions
Disposals
5,477.446
9.054
595.808
9,500
1605,3081
370,691
6,452,999
9,500
1370,691) 16,462,499)
15,477,446)
19.0541
Al 31 August 2023
At 1 September 2022
Charge lor the year
On disposals
62.977
4.618
167.595)
9,053
378,994
28,622
1407,616)
287,100
S.429
1292,529}
738.124
38,670
1776,794)
19,054}
AI 31 ALtgust 2023
Nel book valu&
At 31 August 2023
Al 31 August 2022
5.414,469
216,814
83,591
5.714,875
Assets with a nel book value ol £nil12022.. £5.398,6001 are pledged as security lor liabilities.
18. Debtors
2023
2022
Due wlthln ong year
Trade debtors
Prepayments and accrued income
787,631
68,513
856, 144
Page 28

HIXON-STAINTO￿TANNER TRUST
{A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
19. Credltors: Amounts falllng due wlthln one year
2023
2022
Bank overdrafts
158,284
194,301
51, 128
40,420
41,327
1, 149,317
Bank loans
Trade creditors
Other laxalion and social security
OiheT creditors
Accruals and deferred income
36,626
11,989
48,61S
1,634, 777
2023 delerred income consisted ol lees invoiced in advance of the autumn term £nil 12022.. £931,204).
The amount was then released in the next year.
Secured debts
Creditors due within one year include bank loans ol £nil 12022.. £194.3011, on which security has been
given by Ihe charity.
The bank loans and facilities were secured by charges over Rwkwood School dated 2111112008, a
charge over 15 & 17 The Avenue dated 2111112008, and a debgnlure on the banks standard form dated
0311212008. These charges were settled upon repayment ol the loan.
Credltors: Arnounts falllng due after more than one year
2023
2022
Bank loans
Accruals and deferred income
Financial instruments
1,498.047
32,633
35,862
1,566.542
Included in creditors are the following amounts due after more than live years of £nil12022-. £613,795).
Borrowlngs due after flve year8
Two bank loans with aggregate amounts ol £nil 12022.. t613.7951 which fall due after 5 years and whlch
are payable by instalments are in place with Bar¢lays with Interest being paid al 2Q/o above the Barclays
base rate. The first loan is due lo mature in November 2028 and the second loan 15 due to mature in July
2029.
Secured dgbts
Creditors due after more than one year i￿lUde bank loans ol £nil12022.. £1,464,713>, on which security
has been given by the charity.
The bank loans and facilities are secured by charges over Rookwood School dated 2111112008. a charge
Page 29

HIXON-STAINTO￿TANNER TRUST
{A Company LlmSted by Guarnniee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
20. Credltors: Amount$ falling due after more than one year {contlnuedl
over 15 & 17 The Avenue dated 2111112008, and a debenture on the banks standard form dated
0311212008.
21.
Penslon ¢ommltrnents
The Charity operates separate defined contribution pension schemes for Teaching and Suppgrt 5taff-,
Avwa and NEST respectively. The assets of the two schemes are held separately from those ol the
Charity in independenlly administered funds. The lolal pension charge of £200,524 12022.. £398,627
represents contributions payable by the Charity lo Aviva and lo NEST.
Operatlng lease commltments
Al 31 August 2023 the Charity had commitments to make flrturo minimum lease payments under non-
cancellable operating leases as follows..
2023
2022
Not later than 1 year
Later than 1 year and not later than 5 years
28,418
55.588
The following lease paymenis have been re¢ogni5ed as an expense in the Siaiement ol Financial
Activities..
2023
2022
0￿ratIng lease rentals
15,093
32,381
Page 30

HIXON.STAINTON-TANNER TRUST
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
statement of funds
Statement of funds- current year
Balan¢e at 1
Seplember
2022
Balance at
Galnsl 31 Augu$t
(Losses}
2023
Income ExpendSture
Unr¢$trl¢ted funds
General Funds- all funds
3,372,192
1,859,507
12,461,631) {2,710,S75)
59.493
Ro$trl¢ted funds
Reslricled FurKls - all funds
8,001
{2,036)
(5,965)
Total of funds
3,380,193
1,859.507 12,463,6671 {2,716,540)
59,493
The specific purposes lor which the funds are to be applied are as follows..
The restricted fund above is a Fixed Asset Donation Fund - This fund represents as5els OT expenses
purchased wilh donations from Friends ol Rookwood.
Page31

HIXON-STAINTON-TANNER TRUST
{A Company Llmlled by Guar8nteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
23. Slalement of lund$ (¢ontlnu6dl
Statemenl ol fund8- prlor year
Balanc8 al
I Sepiember
2021
Balance al
31 Augusl
2022
Gains/
{Losses}
Income Expenditure
Unrestrlcted funds
General Funds . all funds
3.552,651
3,320,930 f3.712,659)
211,270
3,372, 192
Re8lrlcled lund•
Reslricled Funds - all funds
12,520
21,074
(25.593)
8,001
Total ol lund•
3,565, 171
3,342,004 (3, 738,252)
211.270
3,380, 193
24. Analy818 of not ass•t$ btstween funds
Analy818 ol not a$$et8 belween lund8- ¢urront year
Unrn¥trl¢t¢d
lund•
2023
Total
fund8
2023
Current assets
Creditors due wllhin one year
108,108
148,6151
108.108
{48,615)
Total
59.493
59,493
Page 32

HIXON-STAIMfoN.TANNER TRUST
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
24. Analysls ol net 8$Sèts ￿tween lunds (contlnued)
Analysls of net assets between funds- prlor year
Restr￿180 Unrestric180
funds
lunds
2022
2022
Total
lunds
2022
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
8,001
5, 706,874
5.714,875
866,637
866,637
(1,634, 777) (1,634,777)
(1,566,542) (1.566.542)
Total
8,001
3,372,192
3,380, 193
25. Reconclllatlon of net movement In funds to net cash flow from operallng actlvltles
2023
2022
Nel expenditure lor the year las per Sialemenl ol Financial Activitiesl
13.357,2431
(396,248)
Adlustments for:
Depreciation charges
Dividends. inl8rests and rents from investments
Decreasè in stocks
Decreaselincreasel in debtors
Increaselldecreasel in creditors
38,670
{2.7481
8,463
856,144
(1,266,210)
75,754
(163J
780
{120,958)
107,821
N81 cash u$ed In operatlng actlvllles
{3.722,924)
(333,014)
26. Analysls ol cash and cash equlvalenls
2023
2022
Cash in hand
108,108
2.030
Tolal cash and cash equlvalents
108,108
2,030
Page 33

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
27. Analys13 of changes In net debt
A11
September
At31
2022 Cash flows August 2023
Cash at bank and in hand
Bank overdrafts repayable on demand
Debt due within 1 year
Debt due aller 1 year
2,030
(158,2841
{194,3011
{1.498.0471
106,078
158,284
194,301
1,498,047
108,108
{1,848,6021
1.956,710
108,108
Contlngent a88ets and Ilabllltles
The Trust is being kepl in operation due lo the possibility of an overage agreement bèing triggered. In
such a scenario the Trust may become entitled lo further payment following the sale ol the School asset.
The value ol the mentioned further payment was not quanliliable al the year ènd a￿1 does not meet Ihe
recognition criteria ot an asset or conlingenl asset.
Iln the event ol the overage being triggered. the purchaser of the School asset may attempt to recover
additional cash by reducing the overage payment lo the Trust due lo having lo pay in exeess of the
purchase price lo acquire the School asset. The value ol which was not quantifiable al the year end and
does nol meet tha recognition criteria ol an liability.
Page 34

HIXON-STAINTON-TANNER TRUST
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Flnancl81 Instruments
2023
2022
Flnanclal assets
Financial assèts measured al fair value through income and expendtture
Financial assets that are debt instruments measured al arnortised cost
2,030
856, 144
108.108
108.108
858, 174
2023
2022
Flnanclal1Sabllltles
Derivative financial instruments measured al lair value through income and
expenditure held as part of a trading portfolio
Financial liabilities measured at amortised cost
(35,862)
{48,615} (3, 165.457)
{48.6151 (3,201.319)
Financial assets measured at fair value through income and expenditure includes cash al bank and in
hand £2.74812022'. £1631.
Financial assets that are debt instruments measured al amortised cost includes debtors £nil12022: £nill.
Financial liabilities measured al fair value through statement of financial activities Includes the derivative
financial liability £36,54312022.. £35,862).
Financial liabilities measured al amortised cost includes bank loans. trade creditors, other laxalion and
social security, other ¢redilors, accruals and deferred income £69,47212022.. £98,8821.
Page 35

HIXON-STAINTON-TANNER TRUST
IA Company LIMIt￿ by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
30. Hedglng arrangemenls
To he&Je the potential volatility in lulure interest cash flows on bank loans arising Irom movements in
Barclays Bank Base rate, the Charity had entered into floating to fixed interest rale swaps on an
amortising profile ot the loans.
The swaps were accounted for as a derivative financial liability in accordance with the Chanties SORP
IFRS 1021. The cash flows from the interest rale swap continued until the sale ol the school and the
selllemenl ol the bank loans. The change in fair value is processed within the slalement ol linancial
aclivilies.
2023
2022
Hedglng arrangement
Recognised lossesAiabililies on hedges at beginning ol pericKI
(Gainslllosses arising in the year
35,862
135,862)
247,132
(211,270)
Recognlsod los$&slllabllltles on hedges at end of ￿rIOd
35,862
The charity has not obtained an independent actuarial valuation lor Ihe interest rate swap. The valualion5
Provided by Barclays bank have been used in the accounts.
Page 36