**Draft Financial Statements at 04 February 2025 at 12:09:47**
**Charity Registration No. 307914**
**Company Registration No. 00610514 (England and Wales)**
## **BABINGTON HOUSE SCHOOL LIMITED**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2024**
One Bell Lane Lewes East Sussex BN7 1JU
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Company informaton|-|
|Trustees' report|1 - 6|
|Statement of trustees' responsibilites|7|
|Independent auditor's report|8 - 10|
|Statement of fnancial actvites|11|
|Balance sheet|12|
|Statement of cash fows|13|
|Notes to the fnancial statements|14 - 27|
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr C Turner|
|---|---|
||Mr J Frankish|
||Mr M Hannibal|
||Mr W Magill|
||Ms H Porter-Aslet|
||Mr B Roberts|
||Mr G Scotchbrook|
||Mrs E Channon|
|**Key Management**|Mr D Laird - Interim Headmaster|
|**Personnel**|Miss S Best - Bursar|
||Mr P Showell - Head of Seniors|
||Mr J Mole - Head of Preparatory|
||Miss K Edwards - Deputy Head of Preparatory|
||Miss S McIntosh - Designated Safeguarding Lead|
||Ms R Wifen - Director of Studies|
|**Charity number**|307914|
|**Company number**|00610514|
|**Registered ofce**|Babington House School|
||Grange Drive|
||Chislehurst|
||Kent|
||BR7 5ES|
|**Auditor**|TC Group|
||One Bell Lane|
||Lewes|
||East Sussex|
||BN7 1JU|
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
The trustees present their annual report and financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The object of the Company is the provision of education and associated facilities.
In setting objectives and planning for activities, the Directors have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Strategies for achieving objectives**
The School's aims are set out in its Mission Statement:
## A – Academic rigour
Babington House School strives for academic rigour in all areas and encourages pupils to become confident and independent thinkers. We create a learning environment which encompasses a wide curriculum provision, develops new skills, broadens knowledge and encourages the joy and wonder of learning.
## B – Behaviour
We have high standards of behaviour, dress and conduct, benefitting from small class sizes and a strong sense of community.
## C – Care
We are committed to outstanding pastoral care and the well-being of all. Within a broad Christian context, we promote ideals of courtesy, determination, honesty and respect.
## **Activities undertaken to achieve objectives**
In practice the objectives are achieved via the provision of co-educational day schooling for pupils from 3 years old until 18.
## **Social investment policies**
- Although Babington House is primarily a fee paying school, a number of scholarship awards are available to talented and bursary awards to disadvantaged children from the local community. The number of scholarship and bursary places is currently 48 (2023: 48) and scholarships and bursary provision paid for from School funds during the year under report amounted to £299,411 (2023: £283,760).
We are also very proud that the school offers a small number of full scholarships to Sixth Form pupils who had previously attended large state schools in under deprived areas of SE London. These pupils join our community and make the most of the opportunities here, helping to create a vibrant and diverse community.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **Facilities**
There are exciting plans to build a new block to further enhance the facilities of the school, providing a new entrance and four new classroom spaces. Planning permission is currently being sought through the local authority and it is hoped this building will be in place for 27/28.
## **Public benefit**
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
## **Strategic report**
The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.
## **Achievements and performance**
## **Main achievements of the Charity**
The school is one of the highest achieving schools in the London Borough of Bromley. The Board will seek to ensure that educational standards are upheld in line with the Mission Statement so that this position is maintained.
## **Key performance indicators**
Though the school does not, of course, measure its success solely in terms of the academic performance of its pupils, the Board is pleased to report that this year's A Level and GCSE examinations results published in 2024 were remarkable and well above National averages.
## **GCSE Results 2024**
Nearly two thirds of students were awarded the top grades at GCSE, with 56% achieving the coveted 9-7 grades, equivalent to the old A*-A grading. 59% of students achieved the top 9-7 grades in five subjects or more, with 12% achieving a clean sweep across the board in every GCSE taken. 92% of grades were awarded grades 9-5, and we are particularly proud of the students who worked so hard to secure such fantastic grades.
Students excelled in the top 9-7 grades in a range of subjects including History, Geography, Chemistry, Physics, Computer Science, Music, RS, Textiles and PE, all securing 9-7 grades for over 60% of students. Despite nationally reported lower grades for MFL subjects, all students that sat French and German GCSE achieved grades 9-7, as did those that took Art and Design.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
**A Level Results 2024**
We are thrilled that Babington House students have succeeded in securing places at top universities including Oxford, Durham, York and Liverpool to pursue their varied interests with course choices ranging from Biochemistry (Molecular and Cellular) to History of Art, Law, Physics, History, as well as a Degree Apprenticeship in the construction industry.
Nearly half of all A Levels were awarded A* and A grades with a number of subjects achieving a clean sweep of A* and A grades including English, Mathematics and Economics.
We wish each of our students the very best as they take their next steps into the wider world, to further immerse themselves in the subject areas they have enjoyed studying here at Babington House School, and to pursue employment opportunities created through our Work Experience Programme.
## **Review of activities**
## **Charities and community work**
The school regularly sends Senior pupils to form part of the Bromley Youth Council, who make an important contribution to the democratic process in the Borough.
The school raises a considerable amount for various charities. These include; Bromley Food Bank, Pedal push for NSPCC, Cancer Research, Bromley Homeless Charity, BBC Children in Need and UNICEF charities. We continue our links with a school in Capetown, South Africa fundraising efforts for the Uthando Charity and awareness building campaign.
The Early Years have achieved Mayor of London’s Healthy Early Years London Award for another year running, this focuses on: learning, communication and language, health and well-being – all of the areas judged were heavily evidenced based.
## **Educational Trips and Outings**
We have trips to the Peak District, Sayers Croft, Bore Place, Weymouth and the regular ski trip to the Italian Alps. Next year we are planning a trip to New York for the senior school.
## **Drama Sport and co-curricular**
We enjoy a lot of competitive sport and are still top of the Bromley Netball League in the Under 13, Under 14 and Under 16 levels. We have represented Kent at the SE Region for Swimming and Athletics. We are top of the league for rock climbing and bouldering in the South East, and we compete very well against other schools in our football too. The carol services and prize giving award ceremonies are always very well received by parents. We have enjoyed World Book Week, British Science Week and History Week as cross curricular initiatives. The very well-produced whole school drama production of Treasure Island was enjoyed by all.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **Factors relevant to achieve objectives**
The school aims to enable its students to meet the challenges of the 21st Century and to create a learning environment which caters for the needs of each individual and promotes active learning and individual success.
The School was last inspected November 2023 in which the School was judged have met all of the ISI criteria.
The School continues to encourage its pupils to develop a sense of social responsibility and an understanding of the plight of others less fortunate than themselves. Fund raising schemes have enabled pupils to raise funds for nominated charities and good causes, and in so doing learn more about the activities of the charities and causes in question.
## **Fundraising activities and income generation**
The School has had funds donated to it by the Babington House School Friends Association which is a voluntary group of parents who meet to organise social events to raise money for the School. Meetings are attended by members of the Senior Leadership Team. The charitable objectives of the BHSFA are as follows:
- To advance the education of pupils in the school in particular by developing effective relationships between the staff, parents and others associated with the school.
- Engaging in activities or providing facilities or equipment which support the school and advance the education of the pupils.
No complaints have been received in respect of fund-raising activities.
## **Financial review**
## **Going concern**
After making appropriate enquiries, the Directors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## _Reserves policy_
Reserves are held by the School to cope with unexpected events such as falls in income or exceptional items of expenditure. This is important to ensure the School has sufficient reserves while it takes remedial action if necessary, thereby creating stability.
Free reserves of the charity at 31 August 2024 were in surplus by £4,608,925 (2023: £3,849,715), however this includes a mortgage debt attached to the property of £2,132,180 (2023: £2,368,987), so free reserves excluding any secured balances amounted to a surplus of £2,476,745. There is no future cash flow associated with the receipt of advance fees, this along with the preparation of detailed budgets showing a positive cash flow enables the Trustees to conclude that there is no material uncertainty relating to going concern in this regard. Trustees aim to maintain at least three month’s of operational costs as cash balances which at 31 August 2024 would amount to £1,819,073 (2023: £1,592,844), the actual cash balance was £2,221,282 (2023: £1,176,868).
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **Principal risks and uncertainties**
In consultation with key management the Trustees continue to keep the School's activities under review, particularly with regard to any major risks that may arise from time to time. It monitors the effectiveness of the system of internal control and other viable means, including insurance cover where appropriate, by which those risks already identified can be best mitigated. The Directors, Senior Leadership Team and all staff work hard to ensure the school maintains its high quality and holds firm to its core values. They also strive to make sure there is a whole school appreciation of the importance of pupil recruitment. There is also a culture of embracing change and diversification, where this is set to improve the school, such as;
1. Selectivity and academic drive in general and the introduction of an 11+ entrance test.
2. The school sets its own educational direction, tactics and strategic direction and is courageous in maintaining an outstanding provision which is professionally determined and rigorously maintained.
## **Principal funding**
The principal funding source to enable the School to operate in its normal course of business remains the fees paid by parents. The School does not have any endowments.
## **Review of the year**
During the year under review the School recorded a surplus of income over expenditure of £759,210 (2023: £742,090)
## **Structure, governance and management**
## **Constitution**
Babington House School Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr C Turner
Mr J Frankish Mr M Hannibal Mr W Magill Ms H Porter-Aslet Mr B Roberts Mr G Scotchbrook Mrs E Channon
## _Recruitment and appointment of trustees_
New Directors are recruited by approaching individuals whose area of expertise is considered will help the school pursue its endeavours. The school also seeks the active involvement of parents. After meeting existing Directors under the guidance of the Chairman, applicants are either accepted or rejected. Suitable induction training is arranged.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
_Organisational structure_
The Trustees, with the help of the Headmaster, are responsible for the overall direction of the school. The running of the school is the responsibility of the Headmaster, with the help of his Senior Leadership Team.
_Induction and training of trustees_
Suitable induction training is arranged for each new Trustee appointed.
_Remuneration policy_
The Headmaster's pay and remuneration is set by the Chairman of the Governors, other Governors and advisors following appraisal. The rest of the Senior Leadership Team have their pay and remuneration recommended to the Pay Committee by the Headmaster following appraisals.
_Relationship with related parties_
There are relationships with some of the Directors who have children in attendance at the school. School fees are charged to these Directors in line with all pupils on an arm's length basis.
## **Financial risk management**
The Directors have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Plans for future periods**
The School looks to achieve a full Roll and has two form entry from Reception class through to Year 11.
## **Auditor**
In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting.
## **Disclosure of information to auditor**
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
The trustees' report, including the strategic report, was approved by the Board of Trustees.
..............................
Mr C Turner
## **Trustee**
Date: .............................................
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
The trustees, who are also the directors of Babington House School Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE MEMBERS OF BABINGTON HOUSE SCHOOL LIMITED**
## **Opinion**
We have audited the financial statements of Babington House School Limited (the ‘charitable company’) for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
- In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concernbasis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE MEMBERS OF BABINGTON HOUSE SCHOOL LIMITED**
**Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report and the strategic report prepared for the purposes of company law, is consistent with the financial statements; and
- the strategic report and the directors' report included within the trustees' report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate 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 statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE MEMBERS OF BABINGTON HOUSE SCHOOL LIMITED**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **David Martin FCA (Senior Statutory Auditor) for and on behalf of TC Group**
## **Statutory Auditor**
Office: Lewes
Date:.........................
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**designated**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Charitable actvites
**2**
7,961,585
-
Other trading actvites
**3**
7,102
-
Investments
**4**
66,763
-
**Total income**
8,035,450
-
**Expenditure on:**
Charitable actvites
**5**
7,276,293
-
Other expenditure
**10**
(53)
-
**Total expenditure**
7,276,240
-
**Net income and movement in**
**funds**
759,210
-
**Reconciliaton of funds:**
Fund balances at 1 September
2023
3,849,715
2,654,181
**Fund balances at 31 August**
**2024**
4,608,925
2,654,181|**Total**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**designated**
**2024**
**2023**
**2023**
**£**
**£**
**£**
7,961,585
7,066,569
-
7,102
35,233
-
66,763
11,991
-
8,035,450
7,113,793
-
7,276,293
6,371,379
-
(53)
324
-
7,276,240
6,371,703
-
759,210
742,090
-
6,503,896
3,107,625
2,654,181
7,263,106
3,849,715
2,654,181|**Total**
**2023**
**£**
7,066,569
35,233
11,991|
|---|---|---|
|||7,113,793|
|||6,371,379
324|
|||6,371,703|
|||742,090
5,761,806|
|||6,503,896|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2024**_
||||**2024**||**2023**|
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|**12**||8,951,780||8,654,583|
|**Current assets**||||||
|Debtors|**13**|190,016||228,548||
|Cash at bank and in hand||2,221,282||1,176,868||
|||2,411,298||1,405,416||
|**Creditors: amounts falling due within one**|**15**|||||
|**year**||(1,748,081)||(1,309,776)||
|**Net current assets**|||663,217||95,640|
|**Total assets less current liabilites**|||9,614,997||8,750,223|
|**Creditors: amounts falling due afer more**||||||
|**than one year**|**16**||(2,351,891)||(2,246,327)|
|**Net assets**|||7,263,106||6,503,896|
|**The funds of the charitable company**||||||
|Unrestricted funds - general|**19**||4,608,925||3,849,715|
|Unrestricted funds - designated|**18**||2,654,181||2,654,181|
||||7,263,106||6,503,896|
The financial statements were approved by the trustees on .........................
..............................
Mr C Turner
## **Trustee**
Company registration number 00610514 (England and Wales)
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**Notes**
**Cash fows from operatng actvites**
Cash generated from operatons
**23**
**Investng actvites**
Purchase of tangible fxed assets
Proceeds from disposal of tangible fxed
assets
Investment income received
**Net cash used in investng actvites**
**Financing actvites**
Repayment of bank loans
**Net cash used in fnancing actvites**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
**£**
1,845,348
(635,852)
4,962
66,763
(564,127)
(236,807)
(236,807)
1,044,414
1,176,868
2,221,282|**2023**
**£**
**£**
981,207
(596,089)
-
11,991
(584,098)
(118,869)
(118,869)
278,240
898,628
1,176,868|
|---|---|---|
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**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **1 Accounting policies**
## **Charity information**
Babington House School Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Babington House School, Grange Drive, Chislehurst, Kent, BR7 5ES.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company.
## **1.4 Income**
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
School fees receivable are charged for services and use of the premises are accounted for in the period in which the service is provided.
- 14 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, andthe amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All resources expended are inclusive of irrecoverable VAT.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 50 years straight line Fixtures and fittings 25-33% straight line Computers 33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 15 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Financial instruments**
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 16 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.12 Fund accounting**
Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the charitable company at the discretion of the Trustees.
Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. The aim of each designated fun is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **2 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|**Unrestricted funds**|||
|Fees|7,707,079|6,572,088|
|Disbursements|156,262|417,588|
|Registraton fees|20,700|27,050|
|Other income|77,544|49,843|
||7,961,585|7,066,569|
## **3 Income from other trading activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Fundraising events|7,102|35,233|
- 17 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **4 Income from investments**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||Interest receivable|66,763|11,991|
|**5**|**Expenditure on charitable actvites**|||
|||**Provision of**|**Provision of**|
|||**Educaton**|**Educaton**|
|||**2024**|**2023**|
|||**£**|**£**|
||**Direct costs**|||
||Staf costs|3,731,213|3,004,269|
||Examinaton fees|21,073|13,542|
||Educaton requisites|117,963|99,731|
||School trips|2,529|173,742|
||Non-payroll staf costs|67,733|66,022|
|||3,940,511|3,357,306|
||**Share of support and governance costs (see note 6)**|||
||Support|3,323,002|3,002,613|
||Governance|12,780|11,460|
|||7,276,293|6,371,379|
||**Analysis by fund**|||
||Unrestricted funds - general|7,276,293|6,371,379|
- 18 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **6 Support costs**
|Staf costs
Depreciaton
Legal and professional fees
Advertsing
Catering
Utlity charges
Motor and travel costs
Printng, postage and
statonery
Debt collecton costs
Staf training and
recruitment
Telephone
Computer costs
Bad debt cost
School actvites
Premises
Insurance
Interest
Other
Charitable donatons
Audit fees
Analysed between
Charitable actvites|**Support**
**costs**
**Governance**
**costs**
1,133,462
-
333,747
-
124,959
-
94,070
-
356,055
-
78,574
-
183,663
-
85,814
-
16,545
-
72,729
-
26,341
-
150,452
-
22,897
-
125,693
-
341,951
-
44,320
-
91,150
-
40,472
-
108
-
-
12,780
3,323,002
12,780
3,323,002
12,780|**2024**
1,133,462
333,747
124,959
94,070
356,055
78,574
183,663
85,814
16,545
72,729
26,341
150,452
22,897
125,693
341,951
44,320
91,150
40,472
108
12,780
3,335,782
3,335,782|**Support**
**costs**
**Governance**
**costs**
1,163,761
-
328,316
-
78,140
-
76,691
-
310,682
-
64,182
-
63,937
-
69,500
-
17,056
-
76,363
-
25,204
-
140,158
-
(12,458)
-
155,579
-
308,385
-
40,137
-
96,250
-
-
730
-
-
11,460
3,002,613
11,460
3,002,613
11,460|**2023**
1,163,761
328,316
78,140
76,691
310,682
64,182
63,937
69,500
17,056
76,363
25,204
140,158
(12,458)
155,579
308,385
40,137
96,250
-
730
11,460|
|---|---|---|---|---|
|||||3,014,073|
|||||3,014,073|
Governance costs includes payments to the auditors of £9,900 (2023-£9,900) for audit fees.
|**7**|**Net movement in funds**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated afer charging/(creditng):|||
||Fees payable for the audit of the charity's fnancial statements|12,780|11,460|
||Depreciaton of owned tangible fxed assets|333,747|328,316|
||(Proft)/loss on disposal of tangible fxed assets|(53)|324|
- 19 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
## **9 Employees**
The average monthly number of employees during the year was:
|Teaching staf
Classroom support
Adminstraton
Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneraton was more than
£60,000 is as follows:
In the band £60,001-£70,000
In the band £70,001-£80,000
In the band £80,001-£130,000|**2024**
**Number**
-
-
-
-
**2024**
**£**
3,834,727
382,903
647,045
4,864,675
**2024**
**Number**
1
2
2|**2023**
**Number**
54
52
18|
|---|---|---|
|||124|
|||**2023**
**£**
3,318,829
330,976
518,225|
|||4,168,030|
|||**2023**
**Number**
1
3
1|
- 20 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**9**
**Employees**
**(Contnued)**
**Remuneraton of key management personnel**
The remuneraton of key management personnel was as follows:
**2024**
**2023**
**£**
**£**
Aggregate compensaton
531,213
412,526
**10**
**Other expenditure**
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
Net loss on disposal of tangible fxed assets
(53)
324
(53)
324|**(Contnued)**|**(Contnued)**|
|---|---|---|
||||
|||**2023**
**£**
412,526|
|||324|
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 21 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**12**
**Tangible fxed assets**
**Cost**
At 1 September 2023
Additons
Disposals
Transfer between classes
At 31 August 2024
**Depreciaton and impairment**
At 1 September 2023
Depreciaton charged in the year
Eliminated in respect of disposals
Transfer between classes
At 31 August 2024
**Carrying amount**
At 31 August 2024
At 31 August 2023|**Freehold land**
**and buildings**
**£**
8,827,081
256,295
(4,962)
-
9,078,414
593,340
132,594
(99)
-
725,835
8,352,579
8,233,741|**Assets under**
**constructon**
**£**
79,917
238,737
-
-
318,654
-
-
-
-
-
318,654
79,917|**Fixtures and**
**ftngs**
**£**
1,284,772
51,268
(43,941)
(491,007)
801,092
943,846
85,609
(43,895)
(312,207)
673,353
127,739
340,925|**Computers**
**£**
-
89,552
-
491,007
580,559
-
115,544
-
312,207
427,751
152,808
-|**Total**
**£**
10,191,770
635,852
(48,903)
-|
|---|---|---|---|---|---|
||||||10,778,719|
||||||1,537,186
333,747
(43,994)
-|
||||||1,826,939|
||||||8,951,780|
||||||8,654,583|
|Included in land and buildings is freehold land at deemed cost of £2,325,000 (2023 - £2,325,000), which is
not depreciated.
**13**
**Debtors**
**2024**
**2023**
**Amounts falling due within one year:**
**£**
**£**
Trade debtors
70,108
97,074
Other debtors
26,606
1,091
Prepayments and accrued income
93,302
130,383
190,016
228,548|Included in land and buildings is freehold land at deemed cost of £2,325,000 (2023 - £2,325,000), which is
not depreciated.
**13**
**Debtors**
**2024**
**2023**
**Amounts falling due within one year:**
**£**
**£**
Trade debtors
70,108
97,074
Other debtors
26,606
1,091
Prepayments and accrued income
93,302
130,383
190,016
228,548|Included in land and buildings is freehold land at deemed cost of £2,325,000 (2023 - £2,325,000), which is
not depreciated.
**13**
**Debtors**
**2024**
**2023**
**Amounts falling due within one year:**
**£**
**£**
Trade debtors
70,108
97,074
Other debtors
26,606
1,091
Prepayments and accrued income
93,302
130,383
190,016
228,548|
|---|---|---|
||**2024**
**£**
70,108
26,606
93,302
190,016|**2023**
**£**
97,074
1,091
130,383|
|||228,548|
- 22 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **14 Loans and overdrafts**
|**Loans and overdrafs**|||
|---|---|---|
|Bank loans
Payable within one year
Payable afer one year
Amounts included above which fall due afer fve years:
Payable other than by instalments|**2024**
**£**
2,132,180
127,133
2,005,047
1,789,610|**2023**
**£**
2,368,987|
|||122,660
2,246,327|
|||1,835,989|
The loan balance compromises two loans from Lloyds Bank Plc.
The first loan was taken out in March 2021. The loan is secured by a legal charge over the freehold land and buildings and by a debenture over the assets of the Charitable Company. The loan is repaid in monthly instalments with interest charged at 3.45% for 60 months, then 2.45% above base rate going forward. The loan is repayable in 15 years from the first drawdown.
The second loan was taken out in March 2021. The loan is secured by a legal charge over the freehold land and buildings and by debenture over the assets of the Charitable Company. The loan is repaid in monthly instalments with interest charged at 2.45% above base rate, over a period of 168 months.
## **15 Creditors: amounts falling due within one year**
|**Notes**
Bank loans
**14**
Other taxaton and social security
Deferred income
**17**
Trade creditors
Other creditors
Accruals|**2024**
**£**
127,133
88,131
877,827
148,179
480,443
26,368
1,748,081|**2023**
**£**
122,660
90,151
359,129
176,291
529,895
31,650|
|---|---|---|
|||1,309,776|
- 23 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**16**
**Creditors: amounts falling due afer more than one year**
**Notes**
Bank loans
**14**
Deferred income
**17**
**17**
**Deferred income**
Other deferred income
Deferred income is included in the fnancial statements as follows:
Deferred income is included within:
Current liabilites
Non-current liabilites
Movements in the year:
Deferred income at 1 September 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 August 2024|**2024**
**£**
2,005,047
346,844
2,351,891
**2024**
**£**
1,224,671|**2023**
**£**
2,246,327
-
2,246,327
**2023**
**£**
359,129
**2023**
**£**
359,129
-
359,129
360,601
(360,601)
359,129
359,129|
|---|---|---|
||||
||**2024**
**£**
877,827
346,844
1,224,671
359,129
(319,829)
1,185,371
1,224,671||
Income has been deferred in respect of school fee income, extra curricular activity income and school trip income received relating to the next financial year.
- 24 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **18 Unrestricted funds - designated**
These are unrestricted funds which are material to the charitable company's activities.
|**At 1**
**September**
**2023**
**At**
**£**
2,654,181
**Previous year:**
**At 1**
**September**
**2022**
**At**
**£**
Designated funds
2,149,814
Building fund
447,094
Old Babingtonians
57,273
2,654,181|**31 August**
**2024**
**£**
2,654,181|
|---|---|
||**31 August**
**2023**
**£**
2,149,814
447,094
57,273|
||2,654,181|
Designated funds represent amounts set aside for the upkeep and improvement of the school building.
## **19 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1**
**September**
**2023**
**£**
General funds
3,849,715
**Previous year:**
**At 1**
**September**
**2022**
**£**
General funds
3,107,625|**Incoming**
**resources**
**Resources**
**expended**
**At**
**£**
**£**
8,035,450
(7,276,240)
**Incoming**
**resources**
**Resources**
**expended**
**At**
**£**
**£**
7,113,793
(6,371,703)|**31 August**
**2024**
**£**
4,608,925|
|---|---|---|
|||**31 August**
**2023**
**£**
3,849,715|
- 25 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **20 Analysis of net assets between funds**
||**Unrestricted**|**Designated**|**Total **|**Unrestricted**|**Designated**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Fund balances at 31|||||||
|August 2024 are|||||||
|represented by:|||||||
|Tangible assets|6,297,599|2,654,181|8,951,780|6,000,402|2,654,181|8,654,583|
|Current assets/|||||||
|(liabilites)|663,217|-|663,217|95,640|-|95,640|
|Long term liabilites|(2,351,891)|-|(2,351,891)|(2,246,327)|-|(2,246,327)|
||4,608,925|2,654,181|7,263,106|3,849,715|2,654,181|6,503,896|
## **21 Operating lease commitments**
## **Lessee**
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and fve years
In over fve years|**2024**
**£**
96,829
262,272
426,428
785,529|**2023**
**£**
80,024
232,356
453,333|
|---|---|---|
|||765,713|
## **22 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 26 -
**Draft Financial Statements at 04 February 2025 at 12:09:47 BABINGTON HOUSE SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**23**
**Cash generated from operatons**
Surplus for the year
Adjustments for:
Investment income recognised in statement of fnancial actvites
(Gain)/loss on disposal of tangible fxed assets
Depreciaton and impairment of tangible fxed assets
Movements in working capital:
Decrease/(increase) in debtors
(Decrease) in creditors
Increase/(decrease) in deferred income
**Cash generated from operatons**
**24**
**Analysis of changes in net funds/(debt)**
**At 1 September**
**2023**
**£**
Cash at bank and in hand
1,176,868
Loans falling due within one year
(122,660)
Loans falling due afer more than one year
(2,246,327)
(1,192,119)|**2024**
**2023**
**£**
**£**
759,210
742,090
(66,763)
(11,991)
(53)
324
333,747
328,316
38,531
(4,169)
(84,866)
(71,891)
865,542
(1,472)
1,845,348
981,207
**Cash fows At 31 August 2024**
**£**
**£**
1,044,414
2,221,282
(4,473)
(127,133)
241,280
(2,005,047)
1,281,221
89,102|
|---|---|
- 27 -