Charlty Regktratlon No. 307328 Company Reglstratlon No. 00733644 IEngland and Wale$) GOVERNORS, REPORT AND ACCOUNTS FOR BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 AUGUST 2024 BALLARD SCHOOL LIMITED ILIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Governors P Goodfellow (Chair) A Watson-Lee C Cuyler E Guest LJamS1 D Marsh F Morgan W Pollard O Legg A Stembrldge Prlnelpal A Mccleave Bursar and Company Secretary R Munro Charlty Number 307328 Company Number 00733644 Re£lstered Olfice & Prlnclpal Address Fernhlll Lane New Milton Hampshire BH25 5SU Auditors TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Stsssex BN44 3TN Bankers HSBC 62 Commercial Road Bournemouth BH2 SLR Solicitors Moore Barlow LLP The Oriel 5ydeF)ham Road Guildford GUI 3SR Investment Advisors Atomos Investments Limited 24 Monument Street London EC3R SAI BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) CONTENTS Page Governors, Report lincorporat¢ng the Strategic Report) Statement of Governors, Responslblllties Independent Audltorfs Report Statement of Financial Activitles 12 Balance Sheet 13 Cash Flow Statement 14 Notes to the Accounts 15 BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORT) The Board of fjovernors present their report and audited financial statements for the year ended 31 August 2024. OBJECTS, AIMS AND AcfiviTIES Object The Charity operates within its Articles of Association dated 28 August 1962 last amended In October 2020. The maln object of the School is to provide first class and academically rigorous education for children and young people by offering a broad and balanced currlculum within a positive Christian and famlly en￿rOnMent. The School welcomes all children and families of every background. culture and faith but continues to be lounded on Chri5tlan values which will be evldent in our pastoral care, our assemblles and our family ethos. The Governors. Report serves the purpose of both a Governors, Report and a Dlrectors, Report under company13W. Aims Our vlslon statement15 to provlde a supportlve and caring environment for learning, based on Christian values and excellent teaching. designed to ensure all pupils achleve their personal best. HIEh academl standards. together with thorough preparation for future education and the world of work, are underpinned by an ethos of concern foi others, unselfish attitudes and an awarene55 of the rights and dutie5 of a good citizen. The diverse range of attivities and broad curriculum nurture the self-confidence of all our puplls, and help the development of their personality. engendering also lifelong interests and stimulating a desire to serve the community. Our aims may be summarised as follows: To identlfy and bulld on Strengths to help each individual pupil reach their potential within a secure, caring communlty and to equip our young people to be well-behaved, resilient, rounded and resourceful members of society and prepared for their future worklns Ilves. To aim for academic excellence, so that each individual pupil may achieve his or her personal best. We belleve all our pupils are entitled to an education that extends beyond the purely academlc. Pupils are actively encouraged to take part in a wide range of artistic, creative, cultural, muslcal. sporting and other extra-curricular activities. To recognlse the worth, dignity and contribution of each member of the Ballard Family and to foster self-disclpllne, self-esteem, mutual respect and co-operation within an atmosphere of friendship and trust promoting an appreciation of the needs and gifts of others. To offer scope for spiritual, moral and personal development within a disciplined and mutually supportive envlronment within a Chrlstian ethos. To expect hlgh standards of achlevement by developing in puplls the ability to manage change, to think and research independently and communicate confidently and effeclively. To celebrate our achievements, gifts and diversity irrespective of individual differences. To respond to the wider needs of society through community projects, charitable fundraising and outreach and by Increa51ng awareness of local, natlonal and world Issues. We are an equal opportunity organisatlon and are committed to a VA)rking environment that Is free from any form of discrimination or unfair treatment on the basis of any of the protected characteristics outlined in the 2010 Equallty Act. We will make reasonable adjustments to meet the needs of staff or pupi15 who are, or become, disabled. BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) Prlncipal activlty The School's principal activity is the provislon of day schoolrng for chlldren from Nursery to GCSE. Strategles for athlevlng objectives The School was able to achieve its main objectives by means of strong effective leadership, good financial controls and an excellent standard of teaching and pastoral care. Flnancial review The financlal statements show total income for the year on School actlvitles of £7.986.935 (2023: £7,589,298). The prlncipal source of income 15 fees. accounting for 96% (2023: 97%) of the School's income. Net Income before galns &1055es on investments for the year was £400.47012023: £303,703). Overall net movement in funds for the year was £704.281 f2023: £299,033). Reseyves To enable Ballard School to contlnue operating should any unforeseen circumstsnce occur such as a fall In Income. Ballard School aims to hold suffiaent reseNes to cover a minimum of two terms, overheads. Unrestricted reserves at 31 August 2024 were £9,875.235 {2023: £9.170.954) of which £3,182,398 {2023.' £2.820,792} was represented by tanBible fixed assets, leaving free reserves of £6,692,837 12023: £6,350,162) which represents approximately 2.6 terms of expenditure. The school15 therefore operating In excess of Its minimum fe5erves requirement. Development and malntenance The School continues to Invest in newequipment and facilities whilst maintainingand improvlng the School and grounds. As part of our commitment to become net carbon zero, the School replaced a number of wlndows throughout the School. There were significant works as part of our tree management. replacement of the swimming pool changlng rooms. creation of a woodland walk wlth bridges and paths, Improvements In the maintenance compoundi painttng of a number of areas throughout the School, phase 2 installatÈon of the perlmeter fencing, replacement of 2 boilers, complete refurbishment of a science lab, replacement of the entrance driveway bridge, man safe system added to the top of the sports hall roof giving safe access for the estates teaftn. replacement of a combi oven. task lighting replacement in the Performlng Arts Cehtre and refurbishment of the drum room in the rnusic block. Work was completed on the complete refiguration and refurbishment of the maln School Receptlon Offlce including a new v151torf5 entrance. IT expenditure has been planned to enhan￿ our school's infrastructure, improve educational outcomes. and suppjrt our staff and students. CCTV Upgrade5: A new DVR recorder and extra cameras have been Installed throughout the site. Marketing Media PC.. A high-powered PC wlth advanced video editing capabilities and a hlgh resolution display has been purchased to enhance our marketlng efforts. Expanded Storage Capacity for Backups: Additional storage capacity has been added to ensure the safety and security ofour data. Laptops for DEL Staff: Laptops have been pmvTded to both teaching assistants and speelallst teachers to allow them to work remotely and in a hybrld fashlon enabling teaching a5515tants to collaborate directly wlth pupils and teachers while in class, supporting I:1 interactions with the same equipment the students have. New Digital Signage Screen to improve communlcatlon and informatlon dissemination. BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) Investment policy and performance The School had Investments held with Atomos - Wealth and Finanaal Wellbelng. The funds are invested with 3 view to recelving an income stream with a reasonable degree of capital growth. The wlde portfolio of Investment funds is considered to be of medium risk but when combined with the School's other ¢a5h deposits the overall risk proflle Is tonsidered to be low. During the year. investment income of £141,648 (2023: £88,066) was generated from these Investments. Realised gains were £172.257 (2023 gain of £44,910J. Cash funds are now held on the INSIGNIS platform with a number of diffÈrent financial Instltutlons In Interest bearing accounts. Interest eamed from cash fund5 wa5 £90,941 (2023., E57,782). Future developments The Governors, strateglc focus for 2024 and beyond is to continue to improve the academic provision and reputation of the School with a real focus on innovatEve and hlgh-quallty teaching and learning wlth the objective of Ballard becoming the natural choice for a growing number of pupi15 of all academic abilities. The School wlll focu5 on contlnuln8 to lrnprove the percentage of puplls galnin8 5 or more 9 to 4 grades at GSCE, whilst also maintaining its strong and important co-curricular provlslon. The Governors and the School are aware of the strong reputation Ballard ha5 for pastoral care and recognTse that it Is Imperative pastoral care remains a real strength whilst continuin8 to deliver a holistk educatlon. The Governors will focus closely on the future structure and s12e of the School roll, paying close attention to the School's current accommodation and any future developments required. Governors intend to continue their current 5trate8y of maintainlng the Schools, competltlve posltlon, providing a hollstlc educatlon for all age groups from Nursery to GCSE, whilst focusing on the economics and sustainability of the future of the School. The school will continue to invest and develop Its facllltles In order to achieve a positive balance between academlt achlevemen( extra-currlcular actlvities, pastoral care and a thorough preparation foi future edUCat￿n and the workpla￿. Rlsk manaeement Members of the Board are responsible for the overseeing of the risks faced by the School. Detailed conslderatlons of risk are delegated to the Senlor Management of the School and reviewed bya designated governor. A formal review is undertaken teimly under the following headings: aims and objectives, legal and fiscal regulation, governance and mana8ement, external. operation31, financial, IT. envlrcnmental, intellectual property and staff. Through the rlsk manaEement processes established for the School. the Governors are satisfied that the major risks tdentified have been adequately mltiEated where necessary. It is recognised thèt systems can only provide reasonable. but not absolute assurance, that major risk5 have been adequately managed. New financlal rlsks to the school this yearinclude the mandatory additlon of VATtoschool fees as imposed by the CL)rrent government. Ballard School's Board of Governors have committed to pay the VAT on school fees for the Spring and Summer Terms in 2025 to support parents wlth thls slgnlficant Increase In cost. Following thls, there Is a proposed phasing of VAT over the next 2 years to further support. Further external flnancial pressures Include the removal of the Mandatory business Rates Relief in April 2025, the % increase in National Insurance employer contributions from April 2025, reduction in the financial threshold for the payment of National Insurance for employers in April 2025 and the increase in the National Minimum Wage in April 2025. BALLARD SCHOOL LIMITED (LIMrrED BYGUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) Pupll numbers Our educatlonal actlvltles are carrled out through our Senlor (Years 9 to 11), Upper Prep {Years 6 to B), Lower Prep (Years 3 to 51, Pre Prep (Years R to 21 Kindergarten and Nurseryschools, Pupil numbers peaked at 461 durlng the Autumn Term. Maintenance of pupil numbers is vital to the long term sustalnablllty of the school and Is a slgnificant factor Imparting the future financial performance of the School. Bursary and scholarship policies The Board of Governors view our bursary and scholarship awards as important in helping to ensure that children from familieswhowould otherwlse not be able toafford the tees, are able to access the educatlon we offer, Our School does not have any endowments and, in funding our awards, we have to be mindful that we must ensure a balance between fee paylng parents, many of whom make considerable personal sacrifices to fund their child's education, and those benefiting from the awards. Our bursary awards are avallable to all who meet our general entry requlrements and are made on the basi5 of parental means or to relieve hardship, where 3 pupll's education and future prospects wculd otherwise be at rlsk. The 5ucces5 of our bursary scheme 15 explained in our public benefit section of this report. This year. the School continued its commitment to offer a IIXWA+ bursary to a pupil whose family is displaced by the war in Ukraine. providlng a fullyfunded pla￿ whilst they are unable to ietum to Ukraine. Furthermore, the School provided a IO0%+ bursary to a pupil with an exceptlonal talent, providing full support until the end of year 11. Our scholarshlp5 are awarded on the basis of the Individual's educational and extra currlcular merlt or potential. New scholarships are awarded up to IO% of fees for entry into Year5 3, 7 and 9. Scho13r5hip5 mav be supplemented by a bursary. We award scholarships to pupils with an exceptionaltalent who also display the Ballard values. At Ballard, our 5cho13rship Programme Is based on enrichment and nurturing individual talent or talents and pupils are entered into the relevant programme. Family and staff dlscounts policy With pupils ranEinE in age from 2 to 16 yeals. we are very much a family School and to assist famllles we offer dlscounts where parents have more than one child at the School. To help us attract and relaln high quality staff, we offer staff a dlscount scheme when they choose to educate their children at our School. Academlc results We are delighted to report another successful year of GCSE results, wlth most puplls achleving at least five GCSE pas5esgfaded 9-4 (including Maths and Engllsh). 95% of grades were 9 to 4, and 34% of results were grade 9 to 7. The school achieved an average value-added score of +0.78 meaning Dn average each pupil exceeded each subject grade expectation by just over three quarters of a grade. The CfO55over between pa55 rates In Engllsh & Maths were pleasing also; 98.4% of Ballard leavers passed both. This allows otsr pupils a much wider range of academic and vocational post-16 pathways. Art, BloloEY, Chemlstry, English Llterature, Food & Nutrftlon. French. Gemian, Mathematlts IHlgher), Muslc, Physics, Religious Studies, Spanish and Textiles all achieved 100% pass rates. Value added figures for each department were Impressive in many subjects achieving an average grade in excess of a whole grade higher than expectation: Art (+l), Engllsh Language [+1.481, Engllsh literature {+1.031, Food Technology1+2.671, French {+l), Geography (+1.3), History (+l), Music {+2.441, Spanish {+l), Physical Education 1+1.111 & Textlles (+1.33J Outcomes were broadly similar to 2024 results In term5 of pa55 rates, high grade attainment and value- added progress. Particularly pleasing trends in terms of attainment verses historical outcomes, which are BALLARD SCHOOL LIMITED (UMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) èvident in the following subjects who exceeded thetr 4 year average (excluding CAGS/TAGS from 20201211.. Computer Science, English Language, En81ish Literature, Frenth, Geography, Hlstory, Maths, Muslc, RelSglous Studie5, Science (Double Award) and Spanish. Significant pupil success Stories Include Iwer 20% of the cohort achieving average grades of 7+ and exactly 50% of the cohort averaging a value-added score of l+. Four puplls achieved average grade scores of 8+. Our pupils have achieved a set of well-deserved and hard-earned grades, they have developed character, skllls and subject knowledge that will se￿e them well as they leave Ballard. Analysis shows our subgroups value added performance within the cohort as follows. Pupil with SEND performed particularly well, achieving a vèlue added of 0.99. The 2024 outcomes have shaped the whole school targets set for 2025: Overall Average Grade Achieved: 6 Overall Average Value Added Score: +1 Achlevement of non-SEND boys: +0.75 Our puplls have achleved a set of well-deserved and hard-earned grades. they have developed characteT, skills and subject knowledge that will serve them well as they leave BallaTd. Publlc beneflt The Governors have glven due consideration to the Charity Commission's published guldance concerning the provision of Public Benefit. The School is committed to providing Publlc Benefit in a variety of ways including: the provision of means tested bur5aries' free use of our sports facilitles to local children's 5POrts clubs and primary school5; holding of sporting festivals with other local schoo15 free or subsidised use of our Performing Arts Centre for charitable fundraising event5. and teacher training. BursariÈs and scholarships This year the value of means tested bursaries totalled £108,691 (2023: £75,852) and represented 1.4% of gross fees12023: 1%) and provlded asslstance to 19 (2023: 161 of our pupilslfamllies. Scholarships were awarded to 7012023: 84) pupils. based on theireducational merit an(J potentlal, totalling £124,326 (2023: £142,541) and representing 1.6% of gross fees12023: 1.8%). 4 pupils12023: 31 received a bursary in excess cf 50%. In addltlon, famlly dlscounts amounting to £154,293 (2023: £177.2461 were provided. Informatlon about fee a5SiStance In the farm of bursarles and scholarshlps Is provlded to all those applying to the School. Community links The Charity provlded sports facllitles free of charge to New Forest Volleyball and Lymington Netball team. The School has close links and shares facilities with Bashley Cricket Club, New Milton Cricket Club and New Milton Girls, Cricket Club, The School provlded a reduced letting cost for hlre of the PerforminE Arts Centre to the New Forest Orchestra and the New Forest Dan￿ Academy. The Performlng Arts Centre and other School bulldlnES are used at a discounted rate, by the local drama 8roup the New Forest Players, who normally perform four productions a year. The School cholrcarol sangat Chewton Glen to raise money for Oakhaven Hospice. Our mlnibuses are used by a number of local schools and charities for educational trlps. We hosted a Lecture Series where parents BALLARD SCHOOL LIMITED ILIMITED BVGUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) and pupils Joined us for presentations. As a part of the Duke of Edinburgh Scheme. a numbeTof our pupils are involved in volunteering in the local area includin& amongst other activltle5, vKsrking in charity shops, helping at Park run5. dog walklng, sports coachlnE and Iltter plcking. The School has also been Involved In food collections for the New Forest Ba5iC5 Food Bank. The children raised money for a number of local and national charlties, raising over £3000 though the academlc year. A member of staff ran the London Marathon ralsing over £2(X)O for Children with Cancer Uk. We supported a member of staff to tontinue to be a Governor at a local maintained school. Some male staff grew moustaches raising money for Movember. STRUCTURE, GOVERNANCE AND MANAGEMENT The Governors are the charitytrustees and 3150 directors of the limited company. They are responsible for the overall management and control of Ballard School including the setting of aims and objectives, strate8yp setting of policies, revlewlng performance, budgeting and complian￿. The Board of Governors meet no less than three tlmes a year and the Headmaster and 8ursar attend all meetin8S. The work of implementing policies is carried out by the members of the Education Committee and the Flnance & General Purposes Committee whlch meet at least once a term. The Bursarls responslble for co ordinating the work of the Board of Governors and its Committees. preparation of papers, management accounts and the review of matters arising. All trustees give of theirtlme freely and no remuneration was paid in the year but travel and training Costs are relmbursed. No Governor or person connected with a Governor received anybenefit from epthermeans tested bursaries or scholarships awarded to our pupils. The general day to day management of the School is delegated to the Headmaster and Bursar who ensure that the pollcies as set by the Board of Governors are adhered to. Governor recruftment and tralnlng The School recruited one new governor C Cuyler (appointment date 1610912024) and Rev. M Poole retlred from the Board on 0610912024, M, Billington retired from the Board on 1110612024 and C Coley-maud retlred from the Board on 1110212025. The School Is in the pro￿S5 of recruiting four further governors to loln the Board.AnyGovernorcan nominate appointees, butappointmentscan onlytake placevia a majority vote. New Governors are inducted into the workings of the Charity and the School, in¢luding policies and procedures. Trainin8 needs are assessed and provided as ne￿ssary. FUNDRAISING The school Is not reliant on fundralsin8 activity for Its operatlon and does not undertake fundraising (other than through events and acttvities carr￿d out in aid of third party organi5atlons). Approved by order of the members of the board of Governors and 5i8ned on their behalf by.. P R Goodfellow Governor Date: BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS. RESPONSIBILITIES The Governors, who are also the Directors of Ballard School iimlted for the purpose of company law, are responslble for preparing the Governors. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practicel. Company law requires the Governors to prepare accounts for each rtnancial year which gfve a true and falr view of the state of affair5 of the charlty and of the incoming resources and application of resources, including the income and expenditure. of the charitable companyfor that year. In preparing these accounts, the Governor5 are required to- 5eleit suitable accounting policies and then apply them conslstently; observe the methods and prlnciples In the Charities SORP; makejudgements and estimates that are reasonable and prudent; and prepare the accounts on the golng concern basis unless It is inappropriate to presume that the charlty wlll contlnue in operatlon. The Governors are responsible for keeping adequate accounting records thatdisclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS We have audited the financial statements of Ballard School Limited for the year ended 31 August 2024 which comprise the Statement of Flnancial Actlvltles, the Balance Sheet, the Cashflow Statement and notes to the financial statements. The financial reporting framework that has been applled In their preparatlon Is appllcable law and Unlted Kingdom Accountingstandards, including Financlal Reporting Standard 102 The Flnanclal Reporting Standard appllcable In the UK (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financlal statements: give a true and falr view of the state of the charltable company's affairs a5 at 31 August 2024 and of it5 incomin8 resour￿5 and application of resources. Intluding its income and expenditure, for the year then ended; have been properly prepared In accordance wlth Unlted Klngdom Generally Accepted Accounting Practice: and have been prepared In accordancewlththe requirements of the CompanlesAct2006. Basls of oplnion We conducted our audit in accordance wlth Internatlonal Standards on Audltlng (UK) (ISAS (UK)) and applicable law, Our responsibilities under those standards are further described In the Audltor's responslbllltles for the audit of the financial statements sectlon of our report. We are independent of the charitable company in accordance with the ethical reqU1￿MentS that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethlcal Standard. and the provlsions available for small entltles, and we have fulfllled our ethical responsibilitie5 in accordance with these requirements. We believe that the audit evidence we have obtained is sufficlent and appropriate to provide a basis for our opinion. Conclusion5 relating to going concern In audlting the financlal statements. we have concluded that the governorfs use of the going concern basis of accounting In the preparation of the flnanclal statements Is approprlate. Based on the work we have performed, we have not identifled any materlal uncertalnties relating to events or canditions that. individually or Collectively, may cast doubt on the charltable company's ability to continue as a going concern for a period of at least twelve months from when the financlal statements are authorised for Issue. Our responsibilities and the responslbllities of the governors with respect to golng concern are described in the relevant sections of this report. other information The other informatlon comprlses the information included in the annual report, including the governorfs report, other than the financial statements and our auditor's reportthereon. The governors are responsible for the other information. Ouropinion on the flnancial statements does not cover the other information and, except to the extentotherwlse eJ(pllcltlystated Inourreport. wedo notexpre55 any form of assurance conclusion thereon. BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS In connectlon with our audit of the financial statements. our responsibility is to read the other information and, in doing so, conslder whether the other informatlon Is materlally inconsistent with the financlal statements or our knowledge obtained in the audit or otherwise appears to be materlally misstated. If we identify such material inconsistencies OT apparent material misstatements, we are required to determine whether there is a material rnisstatement in the financial statements or a material misstatement of the other information. If. based onthe workwe have perforrned, we conclude that there is a material misstatement of thls other Information, we are requlred to reportthat fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2006 In our oplnion, based on the work undertaken In the course ofthe audlt: the information given in the governors, report (incorporating the strategic report and the dlrectors report) for the flnancial year for which the financial statements are prepared Is consistent with the financi31 statements'and the strategic report and the directors, report have been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of our knowledge and understanding of the charitablÈ company and its environment obtalned In the course of the audit. we have not identified material misstatements In the strateglc report and the directors. report. We have nothing to report in respect of the following matters in relation to whlch the Companies Act 2006 requlres us to ￿POrt to you if. in our opinion: dequate accountinE records have not been kept. or returns adequate for our audlt have not been received from branches notvisited by us. or the financial statements are notin agreementwith the accountlng records and returns; or certain disc105ure5 of dlrectors, remuneration speclfied by laware not made. or we have not recelved all the Information and explanatlons we require: or the directors were not entitled to prepare the financial statements in accordance with the small companle5 regime and take advantage of the small companies, exemptions in preparlng the governors, report and from the requirement to prepare a strateglc report. Responslblllties of governors As explained more fully in the govemors, responsibilities statement, the governors (who are also the dlrectors of the charltab5e company for the purposes of company 52w) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair vlew, and for such internal control as the governors determine is necessaryto enable the preparation of financial statements that are free from rftaterial mlsstatement, whether due to fraud orerror. In preparing the financial statements, the governors are responsible for assessing the charitable companvs ability to contlnue as a golnE concern, disclosin& as applicable. matters related to golng concern and using the going concern basis of accounting unless the 8overnors either Intend to liquidate the charitable company or to cease operations, 01 have no reallstlc alternative to do so. BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS Audltor's responslbllltles for the audit of the financlal statements Our oblectlves are to obtaln reasonable assurance about whether the financlal statement5 a5 a whole are free from material misstatement, whether due to fraud or error. and to issue an audltor's report that Includes our oplnlon. Reasonable assurance isa high level of assurance. but is not a guarantee thatan audit conducted in accordance wlth ISAS IUKTr will always detect a materlal misstatement when It exbts. Misstatement5 can ar15e from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements Is located on the Financlal Reportin8 Council's website at: htt www.frc.o auditorsres on5ibilities. This description forms part of our auditor's report. Extent to which the audit was considered capable of detecting irregularities. including fraud The objectlvesof ouraudlt, In respect to fraud, are: to Identlfy and assess the rlsk5 of materlal mlsstatement of the financial statements due to fraud," to obtain Su￿[clent approprlate audlt evldence regarding the assessed rlsk5 of materlal misstatement due to fraud, through de5i8ning and implementing appropriate responses. and to respond approprlately to fraud or suspected fraud identified during the audit. However, the primary responsibllity 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 regulatlons that could reasonably be expected to have a materlal effect on the financial statements from ourgeneral sector experience, and through discu551on with the governors and other management (as required by auditing standardsl, and discussed with the governors and othermanagement the poliaes and procedures regarding compliance with laws and regulations (see below). We Identlfied the following areas as those most likely to have such an effect,. health and 5afetyi General Data Protection Regulation (GDPRI; fraud; bribery and corruption, school inspections, keeping children safe in education {statutOry EUSdance). DBS checks, employment law and Keeping Chlldren Safe In Educatlon under section 175 of The Educatlon Act 2002. Audltlng standards Ilmlt the required audit procedures to Identify non-compliance with these laws and regulations to enquiry of the governors and other management and inspection of regulatory and le8aS correspondence, if any. The Identlfied attual or suspected non-compliance was not 5ufflciently significant to our audit to result in our response being identified as a key audit matter. We considered the legal and regulatory frameworks directly applicable to the financial statements reportlng framework (FRS 102, the Companie5 Act 2006 and the Charltles Act 2011} and the relevant tax compliance regulations in the UK. We considered the nature of the charitable company's operation5, the control environment and financlal performance. We communicated identlfled law5 and regulatlons throughout our team and remalned alert to any indications of non-compliance throughout the audit. We considered the procedures and controls that the charitable company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senlor management monitors those programmes and controls. io BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS Based on this understanding we deslgned our audlt procedures to identify non-complian￿ wlth such laws and regulations. Where the risk was considered to be higher, we performed audit prO￿dureS to address each Identlfied fraud rlsk. These procedures Included: testing manual Journals; revlewing the flnanclal statement disctosures and testing to supporting documentation", performlng analytical procedures; and enqulrlng of mana8emenL and were designed to provide reasonable assuran￿ that the financial statements were free from fraud or error. Owlng to the Inherent Ilmltatlons 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 accordance wlth auditing standards. For example, the further removed non- compliance with laws and regulations {irregularities) is from the events and transactions reflected in the financial sLitements, the less likely the inherently limited procedures required by auditing standard5 would Identlfy It. The risk is also greater regarding irregularitie5 occurring due to fraud rather than error, a5 fraud Involves intentional concealment. forgery, collusion, omlsslon or misrepresentatlon. We are not responslble for preventing non-compliance and cannot be expected to detect non-compli3nce with all laws and regulations. Use of our report This report is made solely to the charltable company's members. as a bodyi in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken 50 that we might State to the tharltab1e company's member5 those matters we are requlred to state to them In an auditors, report and for the no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibi1 ity to anyone other than the charitable company and the charltable companvs members. as a body4 for our audit work, or for the opinions we have formed. Tc4r Mark Cummlns FCCA (Senlor Slatutory Audltor) for and on behalf OITC Group Statutory Auditors Office: Steyning, West Sussex Dated: I 14>U li BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) STATEMETrtr OF FINANCIAL ACTIVITIES {INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST2024 Notes 2024 2023 INCOME FROM: Donatlons ChBritable activltles Other Iradlng attivlties Investment Income Other income 6.534 7.674.S53 61,482 232,589 11,777 7,349,818 40,533 145,848 53,099 Total Income 7,986,935 7.589,298 EXPENDITURE ON: Ralslng fund5 ChaTitable actlvltles 2Z.701 7.563.764 15,8S2 7,269,743 Tolal expendlture 7586,465 7.285.595 Net Income 400A70 303,703 Gains I Ilossesl on Investments 13 303,811 (4.6701 Nét movement in funds 704 281 299,033 Fund balance5 brought forward 9.170.954 8,871.920 Fund balance5 at (arried forward 9.875.235 9,170,954 All income and gains for the peiiod are recognised above. All of the company's activitles are classified as contlnuin& There are no recogni5ed gains or105se5 Other than those reported on the Statement of Financial Activities. 12 BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) BALANCE SHEET AS A T31 AUGUST2024 2024 2023 Notes FIXED ASSETS Tangible assets Investments 12 3.182,398 4.263,256 2,820,792 3.840.498 13 7A45,654 6.661,290 CURRENT ASSETS Stock5 Debtors Cash at bank and In hand 14 7.047 344.861 4A54.893 4,806.801 10,795 369,173 4,098,857 4,478.825 15 CURRENT IIABILrriES Creditors due withln one year 16 11,770,668) 11.969,161) NET CURRENT ASSETS 3,036.133 2,509,664 LONG TERM LIABILITIES Creditois due after more than one year 17 (606,5521 TOTAL NET ASSETS 9.875,295 9,170,954 REPRESENTED BY: Unrestrlcted funds 9.875.235 9,170,954 9A75,235 9.170,954 The accounts were approved bythe Board on ...... PRGO dfèllo Governor Ich31rmanl Company number 00733G44 13 BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST2024 2024 2023 Notes Cash flows from Qperatihg actlvitles: Net cash used In operatlng artlvltles 18 843A93 505,975 Cash flows from Investlng acllvltles Dividends and interest income frorn investments Purchase of tanglble fixed assets Addition5 to investments Proceeds on dlsposal of investments Interest recelved 141,648 88,066 12 (601,5011 (1.476,360) 1357.415 90,941 (416,2391 {4.289,1581 4.216.990 57.782 Net cash used In investln8 activities (487.857) 1342.5591 Change In tash and cash equlvalents In the year Cash and cash equlvalents at the beginning of the year Cash and Cash equivalents at the end of the year 356,036 4,098.857 163.416 3.935,441 4,454￿93 4,098,857 Ahalysls of ¢ash and cash equlvalehts Cash atbankand in hand Total cash and cash equivalents 4￿54￿93 4.454,893 4,098￿57 4,098,857 14 BALLARD SCHOOL LIMITED (LIMITED BYGUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2024 STATUTORY INFORMATION Ballard School Llmlted Is a charltable company. lirnfted by guarantee, re8i5tered in England and Wales. The charltable company's reElstered number and registered office address tan be found on the legal and administratlve information page. ACCOUNTING POLICIES 11 Bas15 of preparation The financial statements have been prepared in èccordance wlth Accountlns and Reportlng bycharities.. Statement of Recommended Practice applicable to charities preparing their aecounts in accordance wlth the Financial Reporting Standard applicable In the UK (FRS102} leffectNe l January 20191- Charities SORP {FR51021, the Flnandal Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. Ballard School meets the deflnltlon of a public benellt entlty under FRS102. A55et5 and Liabilities are initially reco8n15ed at historical cost or transactlon value unless otherwise stated In the relevant accounting policy nDtelsl. There are no material uncertalntSes about the Schooys ability to contlnue as a going can￿rn. After r@vlewinE the School's forecasts and prolectlons, the Governors have a reasonable expectation that the School has adequate resources to tontinue in opcratlDnal existence lor the foreseeable future. The School therefore contlnues to adopt the golng cnncern bashs In preparing Its tlnanclal statement5. The financial statements are prepared in sterlin& which is the functlonal currency of the charitable companv. Monetary amount5 In these financial ststements are rounded to the nearest pound. 2.2 Income Fees receivable and char8e5 for seNlces, les5 any allowances, scholarships and bursaries granted by the School against those fees are accounted for in the period in whlch the servlce is provided. Where fees are received for a fulure Service period they are included in deferred Income. Induding those fees received under an advance fee payment scheme. Incomè tax recoverable ih relation to investment income Is recognised at the time the investment Income Is recelvable. Donatlons, leEacies. grants and other voluntary income are accounted for as and when entitlenient arise5, the amount can be rellably measured 2nd thÈ economlc benefit is considered probable. Where 3 donor or an appeal has imposed restrictions the income is credited to a restricted fund. other Intomelother trading Income is accounted for on an accruals basis. 2.3 EJ¢penditure Expenditure is accounted foron an accruals basis. Overhead and othercosts not dlrectly attrlbutable to a parlicular lunctlonal acllvity are included within support costs. The irrecoverable element of VAT Is Included wlth the Item of expenses to whlch It relates. Costs of generaling funds are the costs dlrectly attrlbutable to ralsing funds. Governante costs comprfse the tosts of Tunning the charity. includin8 Costs of legal and professional fees and oudit fees, Support costs include those cost5 connected wilh the management of the charity's assets, organlsatlonal management and administration and compliance with constitutional and statutory requirements. These Intlude all expènditure not dlre£tly related to the charitable activity or fundraising venlure5. 15 BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 AUGUST2024 ACCOUNTING POIICIES Icontlnued) 2.4 Tanglble r￿ed ¥￿ets and dÈpreclatlon Depreciatlon Is provlded at the followtng annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease terms. Whichev￿ is shorter. Freehold buildings and improvements Furniture, fittin8s & equlpment Computers & equlpment 2-IifA straight line 20% straight line 20-25% stralght line Fixed a55ets are capltallsed and valued at hlstorical cost. 2.5 Investments Fixed osset investments are a form of financial instrument and are initHlly recognised at their transaction cost and subsequently measured at fair valve at the balance sheet date, unless the value cannot be measured reliably ih whith case it is measured at cost les5 impairment. InvestmentEains and10sses. whether reolised or unrealised. are Combined and presented as 'G3lnsllLossesl on Investments. in the Statement of Fin3nclal Activitles (Incorporatlng Income and Expendlture Account). 2.6 Stocks stocks are valued at the lower of c05t and net realtsable value. 2.7 Leasing and hire purchase commitments Assets purthased under finance leases are caplt3N5ed as flxed assets and depreciated over the term of the lease. Obllgations under such agreements are Included in creditors net of the finance charges to f￿tUre perlods. Finance charges are written off to the SOFA over the period of the lease. 2.8 Pensions The school operates twodefined contribution pension schemes. Contributions payable to thecharitable companrfs penslon scheme are charged to the SLitement af Flnanc131 Actlvlt]es In the perlod to whlch they relate. 2.9 Accumulated funds Unrestricted funds - these are funds sthich can be used in accordance with the charitable object5 at the discretion of the governor5. 2.10 Debtors Trade and other debtots are reco8nlsed at the settlement amount due. 2.11 Cash at bank and In hand Cash at bank and in hand indudes cash and short term highty liquld Investments. The Governors seek to use short and rnedlum term deposlts where p055ible to maximlse the return on monles held at the bank and to manage cash flow. 16 BALLARD SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POUCIES (contlnued) 2.12 Credltors and provisians Creditors and provlslons are recoEhlsed where thetharity ha5 a present obligation resulting from a past event that will probably result in the transfer of funds to a ihlrd party and the amount due to settle the obligation can be meaSLJred or estlfftated reliably. 2.13 Crltl