COMPANY NUMBER". 00733991 CHARifY NUMBER: 307915 GOVERNORS. REPORT. STRATEGIC REPORT AND FINAt4aAL STATEMENTS FOR BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARANTEE) FOR THE YEAR ENDED 31 AUGUST 2022 *AC2Q8146P' 0310512023 COMPMIES HOIJSE A13
175
BICKLEY PARK SCHOOL LIMITED ILIMIYED BY GUARANTEEI CONTENTS PAGE Legal and Administrative Inlorm*ic Governors. Aeport lincorporating the Stmegic Reportl 2-11 Statement of Govemors, Resp)n5ibilrtie5 12 Report of the Independent Audiiors 13-16 Statement of Financial Artrvities 17 Balance Sheet Cashflow Statemeni 19 Notes to the FinarKial Statements 20-29
BICKLEY PARK SCHOOL LIMITED ILIMITEO BYGUARANTEEI LEGALANDADMINISTrATIVE INFORMATION M Mansra lthairrnanl J Carperter BA Ioewtychairnwnl P C Almond Charfes fj Nuijtns BA D Percivol J Priory D Robert50n J sriley FCI IntArtlni Heads SPatel J Pcobe Secretary and Buar D Faits Company nwnber (KJ733991 Charky mJmlJer 307915 Principal addre55 8Kkley Park Schc 24 Page Heath Lane Brornley Kent ORL 2DS Re8ier¢d Cwrtyard Shoreham Road Upper Beediry Steynin8 West Sussex BN44 3TN Auditors TC GTOUP The Courtyard ShohaM Road Upper Beedir Steyning BN44 3TN Bar&ers Nat31 WestmiASter Bank 143 High street Brornlty Kent BRI IYZ Page I
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARANTEE) GOVERNORS. REPORT (INCORPORAnNG THE 5TrATEGIC REPORn The Governors of Biekley Park School IwhD are also the Direttors of the Company for the purposes of company lawl. present their Annual Rert and Accounts for the Year Ended 31 Au8USt 2022 whith are also prepared io meet ihe requirements for a difectors. report and Counts for Companies Act putposes. The financial statements CoMY with the Charities Att 2011. the Companies Act 2006. the Memorandum and Articles of Association. and the Charr(ies Statement of Recommended Prattice I'charities SORP'I lapplKable to charities preparing their accouThts in xcordance with the Financial Reportin8 Standard applicable in ihe UK: FRS 1021 issued in Ottober 2019. STRUCfVRE, fjovERNAN A14D PIANAGEM The company is a charity. 8ovewned by its Memorandum and Artitles of Association. Membership of the g¢)veming boo* is reviewed regularly and is refreshed by the appointment of new governors. normally comprising ex-parents who are inieresied in developing the khool, together with academic5 able to ofler partitular e¥pertise to the School. New governors are thosen for their experience in relevant rlS and where necessary are given guidance in their duties and responslbilities. The Governing Body meets as a full Board each term and dele8ates partitular tasks to a ranKe of ommittees coverin8 inter alia. Finance. 8uilding and Safety linclltding Safeguarding and Risk Management). Development and Strategic Plannin& Marketin& EdatIOn and Curriculum. The Risk Management Sub-committee regularty assesses and docyments key and rnajor risks to which the School may be exposed. The Governors are satisfied that systems and procedures ¥e in place to rnaTha8e exposure to the major risks. whilst recognising that these can only provide reasonable but not ab501ute assurance that maior risks are being adequately managed. Governing Body: Bickley Park School is a charity operated ihrough a cornpany lirnsted by guarantee. Legal and administrative infCmar10n is set out at the front ol these financial xatements. Governors. who are a150 director5 forthe purr4)5es of ttynpany law, and who sew¥ed durin¥the period were: M S Hansra Ichairrnanl J Carpenter BA IPep&rty Chairman) J s riley FCA P C Alrnond G Nuijens J Priory B Chades D Pefcival A 0W IResigned 31 July 20221 D Rtsbertson IAppointed 14 March 20231 Page 2
BICKLEY PARK SCHOOL LIMITED {LIMITED BY GUARANTEEI GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORn CONTINUED None of the Governors ha5 any benefal interest in the company. Each Governor makes an annual declaration of any (onflitt of interest in addition to one for each Board meetin8 attended. All Governor5 are rnembers of the company and guaranree to contribute £1 in the event ol windin8 UP. Governors determine the general policies and strategic dirertK)n of ihe School. The day-to-day management is delegated to the Head. Mr Patrick Wenham Ito end-December 2021 and Mr5 Tammy Howard to end-AugLtst 20221. supported ty Mr David Fa¥ie$ 18ursarl. and the Senior Leadership Team. Invellment powers a sovemed bythe Memorandum and Articles of Association, whKh place no restriction on the nature of inve5trnents that rnay be rnade. rIng the period. the School received income of £41.796 from other irading attivities (including rent) and £280 bank interest from cash deposit. totalin8 £42,07612020= £36.6651. Govemor Trainin¢ and Indutiitin." All individuals considered as pentIal Govern(Ys are invited to the Schod for a disuJssw)n with the Head and the Chaimiart prior to bein8 proposed at J fvll Board meetin8. They ¥e also 8iven tomprehen5ive inforrnation abjur the charity and their re5F4Jnsibilitie5. In addition to attending governance rneetings. all Governors are expected spend some time at the School each year to ensure they fully understand the workin8s of the school. Post*lection induttion is carried out by the Bursar and SaftrGvartlin8 trainin8 completed OA-line. Each year all Governor5 are a55e55ed for their traininB reqvirernent5 3nd it IS the policy of the Trust to offer training cwr5es either internalty or eemallY as deemed appropriate. A log of all training given is maintained by the Bu(sar. Overylew The Governors recognise their accountability across a numberof areas. 5ummarised as follows= UIEimate accountability for direcring the affairs of the sch1. Ensuring the School is solvent and well run. Oelive¥in8 charitable outtomes for the behefrt of the puNic. Ensuring compliance= Charity law- and Operating wthin the terrn5 of the Company Merr#xandurn and Articles of Association. Duty of prudence: Rernain s(Avent by keeping informed of the financial p051tion,' Use of funds within the purFrf)se of the Schoor: Avoid undue risk,. and Take spetial tare when b)rrowing Page 3
BICKLEY PARK SCHOOL LIMITED IUMITED 8Y GUARANTEEI GOVERNORS. REPORT (INCORPORATING THE STrATEGIC REPORn coNriNUED Duly of care.. Exercise reasonable care by Meeting regularty to ensure effertNe oversiKhi of Sch1 activ(les. Ensure safety and well-being of all Pupils, Staff and Parents. together with oihefs associated with the School. and in partKular take all necesSY Sleps to mainta and enforce effectv¥e Safe8uardin8 policies and procedltres. Use personal knowledge. experience and evidence to ere the School is well run and effluent,. and Take professional advite M all matters whethere is material risk. Oefine the 5trateBK aims of the School. Oefine lin tandem with the Headl objettives antl direct5 that *Jeliver the strate8iC aim5 of the School. Identify and manage risks ensur4 roburt systems are in place to monr(or all known risks. To ensure that the Governing Body can delNer against these xcourrtabil¢rie5 and demonstrate strong ovefsi8ht ol the School, sUPPOrted by an dfectr¥e governance strutture. Oryni5aiion and Management The 8overnance strutture for the School's fjovemin8 Body is represented below (all meetin8$ are thaired by a 8overnor unless dedared below): Main Board: Cornpristng all the Govemors of the School.. it meets three times a year. Flnance and General Purposes Cornmlttee: This key sub-commitiee of the Main Board rneet5 three tirne5 a year and rnore frequent as nece55ary4 to review and act upjn any and all rnatters financial. Marketing Cornmlttee: This sutscommittee of the Matn Board meets three time5 a year and is chaireil t)y the Head or the School's Head of Markeiing. Developmtnt and Strate¢i¢ Planning Committee: This su&committee of the Main 9oard rneets three times a year land more frequentty if required for specific projects via designaied workin8Kroupsl. Education CDmmfjttee: Thi5 sub<ommtttee of the Main Board meets three times a year and is chaired by the Head. Buildings. Heatth and Safety Cornmittee: This sub<ommittee of the Main Board meeES three times a year land MO fQUentlY if required) and reviews compliance with key polities such as Safeguaidin& 5iie Safety and security Compliance, on whith it reF4Jrt5 to the Board. Risk Management (ommftree: This sutrrfommittee of the Buildings. Health and Safety Cornrnittee meets three time5 a year land frequently if required) and is ¢haired by the Bursar. Page 4
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARA14TEE} GOVERNORS. REPORT (INCORPORATING THE STrATEGIC REPORn CONTINUED All Governors attend the Main Board and those not serving Heads are members of at least one su&ttJmmittee. All committees rep)rt back formallyto the Main Board meeting5. The Governors determine the general Straiegic Policy of the kh)ol. which is reviewed at least annually {sUp)rted by the strategy workine Eroup convenirtE more frequently as required). The day-to-day management and operation of the School is delegated to the Head and the 8ur5ar. supporred by the SLT. - OBJEcnvES AND AcnviTIES Charltable Objerts Bickley Park School is a leading selective indepenéent day school whose vision ss to deliver world-class pparary school education for boys, thereby providing a Sifong fotjndation for a 5ucce5sful 5prinEboard to future schools. The School's objective. set out in the Memorandum and Articles of Association. is to promote the cause ol education generally. This is achieved by a well- managed operation of the 5chi)ol in provKlin8 education for boy5 and 8ir15 UP to the a8e of 4, and then boys through to the age of 13+. preparing thern for examination5 to senior independent schools and to gain the highest academic levels. The targets of the School are achieved within competitive lee structure that ri80rous maintains fiAafKial viability. The School ended the academic year with 382 pupils. In meetln8 these objectives, the School's publ benefrt aim i% io prde a highly re8arded education tailored to how boys learn and aimed at rnotivating them to achieve. The School delivers a balanced. challenging and high quality curriculum rhat arffls with the skills and attributes to thrive in their later lives as indiwduals and global cit12ens. The educational experience encompasses acaijernic teKhin¥ anij development of wider 5POrtin& artistic and Social skills where each pupil can fulfill their potential." 8ain the right sort of confidence and the ability to comrnunicaie effertNely and empatheticalty with others. In addiiion. the Schoofs policy demands dose anentw& to pupils. pastoral development Ihroughout their stay at the School, with an intended aim of sharinÉ commm values irfluLfing Kindnes5. Honesty. Respect. Inte8rrty and Resilience. The Board of Governors. under the difeciion and support of the Head. encourages all staff to achieve iheir maximum potential. This is done by investing in ihe staff's fvryre. not only by the means of trainin8 and remuneration, but also by promoting their professional development and engagement in the achievement of excellence in all schtyjl artivsties. Having no outside endowrnents. Ihe School meets all bursary needs from funds derived from onEoinE activilies. The Govemtsrs have authorisetl the Head to altate up to 6% of fee income for de5er¥ing cases which rnust be validated and approved by the Chairman of Governors. The bursarial proportion of fees may be exceeded temporarity subiett to Board approv4. Page 5
BICKLEY PARK SCHOOL LIMITED IUMITED BY GVARANTEEI GOVERNORS, REPORT (INCORPORATING THE StRATEGIC REPORn CONTINUED The school site is regularty used by a ranee of local c¢Nnmunity ¢ytanisations etther for no charge. or a minimal charge. These include a range of sp)rts club5. MUSK group5. drama clubs and a local state school who use the swimming pool and are provided with swimmin8 tuifion. Despite COVID re8ulations restrKtine atcess to the SchLX)I durin8 part of the year, the faciltties remain a valuable and much appreciated resource to the local community. In the furtherance of these aims. Ihe School's Governors. as the charity irustees. have considered the Charty Cornmi55ion'5 8u*dance on puwic beneft, in(ludsn8 the 8uidance 'Public benefst.. running a charity IP821'. In5pectyon The School last e1Ve£1 a full inspection by ISI between Iyth and 22nd May 2015. The contlljsions reathed by the inspecttsrs was ihèt 8iekley Park School was assessell as OutstafidiAg or Excellent against a vast majority of criteria. most notably the Earfy Years provisioning which was marked as outstanding. The Governgrs are pleased wilh ihe outcome and are satlsfied that ttions continue to be iaken to further increase and improve provision across the entire school. The scho wa5 also subjected to a Compliance 105pection in May 2018. securing cornpliance in all areas. A survey undertaken durin8 the iThspection tndicated exlremely stron8 SUPPOrt from the parent body. The average support for the school was 97%. The lead Inspector stated that results were the-strongest set of data he had seen in all the s(hods he has inspecied-. Vdunteers 8ickley Park School Association IDPSAI. a cornmined parents. association. have given great support and assistance to the school through fundraising and oihef attivities to the extent of more than 1.000 hours of vduntary service during the year. Significt tontributiofis of funds have been rnade to school project5 and new pledges of support are readi forthcorning for new projetts. The Governors wo like io take this opportunity to record their appreciation of th coniinuing and valuable support of the School. STRATEGIC RElRT Achievements and Performance In common with the entire educational sector. the Scho(A faced 5ignsfKznt ChaInge5 presented by the COVID pandernic during the first haw of ihe acadernic year. A cornrnitmeni to deliver a high-quality educational provision. whilsi ensuring pupil and staff wellbein& remained a prime objertive. The School'5 profe55ional. personal and consistent èpprooch, aiming to inspire confidence and engage with the parent booy and wider community, has been muth apprecvateé. Remote provisioning facilitie5 via BPS@homel8PS@sthool linclvding Key Worker Schooll coniinued to be relied Up during periods OF lockdown and. for ihose pupils unable to attend the School in person. Whilst this ¥(e a si8nific4nt added workload on the School's operations, all staff responded magnifintty to deliver a reliable leamin8 plarfoms for boys. Pa8e 6
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARANTEE} GOVERNOR5. REPORT (INCORPORATING THE 5TrATEGIC REPORn CONTINUED During periods of partial return to scho, some events, were pared back to free up time for 105t teathing time and re-train pupils into g¢)od wothng habits. Parental support remained constant and was invaluable in engendefing a close partnership model during a difficult time for all. The Sthool recognised the additional burden on parents ol youneer childrt requirinc support with remote lessons. offering added supwr where ps1b1e. Despite the challenges experienced. the School, buildin8 on the stron8 foundati of re¢eAt year5. ha5 enjoyed another 5ceSSful year. achieving a consistent surplu5 and continues to gain excelleni academic results. The Govefnors are delighted that. despiie the continued disruption to education and learninB during the year. sirong resu5 weie achieved by boys ai i0+. Il+ and 13+. Success in exams is tombination of teacher input and pupil commitment. The result5 evidence the quality of teaching and learning during a challenging period fgr sch¢Jols. Seven 13+ Independent Day School scholarships We awarded fr¢)m a cohort of 18 boys wtih the Ma)rrty of leavers 8ainin8 places at their first<hoite senior 5chool= Two Year 8 b)ys achieved zcademie schOlarsp$ to selettNe schools. At Il+/ictr. four sport scholarships were awarded. 5ptsrt continues to play an important part in School life. with good athievements for School teams on the rugby. football and cricket field. In addition to the major team sports. boys have been involved in cross-country. athletics. fencin& 5MmI 8off. cycling. tennis. hockey. basketball, badminton. squash. table tennis and tèekwondo. The Schools h)ngstandin8 a$Sl3t10n with the local cricket club, and on-site facilitie5. provide pupils an environrnent to e¥plore and extend their 5POrting credentials. albeit this was restricted somewhat by the cont¢nued irnpact of COVID in the Following the successful recipi31 exchange of ialented cricketers wilh a leadin8 academy in India in 2019. and after a retum to normal travel. the School is seekin8 to re-instigate this exchan£e in 2023. The success of these events. and the iAtentth to establish this as an annual prograrnme, h35 proved to be an excellent catatyst for broadening the horizon5 of current pupils and increasing interest from prospettive parents. The School's community engagemeAt conrinued wilh a varieiy of event5 and initiative5. OLrtreach projects supportetl local care h(nes and hospices, th*nations to food banks and other local charities. The Governors are deli8hted wth the positive and enthusiastK support from the entire staff and School community. The on-going transfomiation programme. which has a clear mandate from the Board, continue5 to deliver progressive and much needed chan8e to rneet the School'5 Strate8lt Vision. Page 7
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUAW4TEEI GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORTI CONTINUED The Strateg¥c Development Wan is reviewed and updated re8ulady and Continues to be Implemenied across a broad range of areas. Developments plans paused during period of Covid restrictions, were reconsidered in ihe latter part of the summer iefm. th a priority grven to essential infrastrurture improvements and educational resources. The Govemors continue to experience the balanced and appropriate use and benefits of -Oigital- in ihe classroorn. Annual financial bud8ets are set and monitored ulartY throughr) the year. In the year 2021122. the 8enerated net income Iprior to fefurbi5hrnent costs) exceeded bud8et.' a result that continues the trend over recent years which. in Irghr of continuing COVID related challenges. the Go¥ernors view as hi8hly satisfaory. Financial Review Incomin8 re50ufces for the year were £5,349,991 12021.. £5,216.3991. This increase compares favorably to prior years is further evidence of encouraging pvpil number yowth during a period of economic and public healrh uncertainty. The Governors approved a fee discounted during the COVID lockdown period in recoEnilion of the adverse effett on educational provision. steps which were welcomed by the parent tody. Judiciou5 financial management during the year allowed the School to cMrinue to offer a high-quality independent education and to invest in its Slrategit de¥elopment pr13MMe. Resources expended irscreased by 9.2% to £5.147.251 12021 £4.713,4521. due mainly to exceptional one olf costs, balanced by reduced infrastnKture development activity and prudent cost and contract management. The overall net SUrU5 for the year was £20Z.740. down by 59%12021." £S02.9471. due largely rg the additional one ofl costs in the year and some rdUal costs in relation to COVID. The total unrestricted reserves carried forward èt 31 August 2022 was £8.219.924. Annual financial budEet5 are monitored reEulaAy throu8hout the year. In the year under review. the generated net income exceeded budget.. a result that the Governors view as satisfattoryi given the ertraoidinarychallenges faced during this per. In the event of a Significant drop in fun(lin8 the Go¥ernors would Consider the Options available ro them for raising additional fLnds.' this would include reviewin8 whether or not any of the School'5 tsngible fixed assets could be disposed of in order to release funds. Stnior Manartement Pay Senior management remuneration is benchmarked against established teacher pay stèle5 and is subject to meetlll8 performance uiteria set one year in advance. The remuneratign levels for the Head. Bursar and Senior Mana8ernent a also benchmarketl against established criteria, including data from IAPS and AGBIS. Paee8
BICKLEY PARK SCHOOL LIMITED IUMITEO 8Y GUARApifEE) GOVERNORS. REPORT IINCORPOIIATING THE STRATEGIC REPORn CONTINUED All senior staff rnembers have an annual appraisal e with their line mana8er where performance targets are di5CV55ed. Prior to any award bein8 made to thÈ Head or Bursar. the FinarKe Crynmittee will fflake a recommendation for main Board approval. Plans ftr Future Peritids The Head. Under the supervisK)n of the Board. will continue to deliver the aereed development plan for the School, tar8etin8 delivery of a number of projects over the course of the next three years. The aim is to create a world<lass boy-friend1 environment that educates and nurtures boys through their formatsve edLKational year5 in preparation for entry to senKr schools. The Head. Patrick Wenharn. hawng PreVu5 indicated his inientions. stepped down at the end of December 2021 to pursue new interests. The School enjoyed 8 years of hi8hly re8ardetl and inspirational leadership. for which Patrick is to be crnended. Mrs Tammy Howard was appointed Head in January 2022 and left ty mual agement in August 2022. Havin8 condutted a very thorouBh retruitment prore55, the eoard are deli8hted to have appointed Mr Tc¥m Quilter as Head from Septernber 2023. Headship dur¢ng the interim period will be assumed by two very able deputy Heads. Mr Sam Patd and Mrjonaihan Poole. The 8ursar, David Fèries. continued to make a siznifitant contribution to the School, transformation whilst fulfilling a valued role as aerk to the Govemor5 and the senior leadership team. Development projetts. and other key initiaiw, will continue to be supported by the Govemors. who remain fully enga8ed in the assessment and plannin8 5ta8es and are mindful of retaintng a sound financial management ethos. Particular anention continues io be applied to pupil and staff wellbeing and to the provision of a hi8h-ouality educatbon. The Governor5. being aware that the future development of Bickley Park School must be of benefit to all putxls. re¥iew the Strategic Develi)pment Plan reRulady. including the educational and supportin8 facilities of the tharity. providing Strong suPrt and direction to the Head and Senior Leadership Team. lrnprovements in marketing and engagement. with a strong parent contingent who promote the School. has resulied in significant interest from parents wishin8 to visit and enroll. Governor5 tontinue to see tonsistent rellae evidence of he3hY and sustainable pupil nurnbers, secured via the"t*)tt0rnP approath-. The School intends io continue to enhance the excellent links already Rained with oiher lotal independent and ate schools. In addititin. access to the community will be maintained through the proviston of means-tesied bursarie5 and the offer of the use of the School's faolities for educational and recreational purposes. Paee9
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED Princlpal RLsks and Uncertalntles The Gemor5 are reS)nSIble for the management of the risks fzced by the School. Risks are Identified, assessed reRularty and conirols established throughout the year (the Risk Sub- Committee meets each term). and a forynal review of the charitvs risk management processes is undertaken on an annual ba51S. The key contro15 used by the charity ilUde.- Forrna5 agendasfor all Committee and Schod activity,. Deiailed terms of reference for all Committees.. Cornprehen5ive 5trate8ic plannin& budBetin8 and financial mana8emenL Established organisational structure and lines of reportin Fornial written policies- Oear aLrthorisation and approval levels, Vetting procedures a5 required by law for the protertion of thevulnerable. Risks are fully documented in the SchcK)I's Risk Register. ThrouRh the risk management processes estèblbshed for the School, the Govemors are saiisfied that any major risks identified have been adequatety mttiBated where netessary. It is recoEfiised that systems can only provide reasonable but not ab501ute assurance that major risk5 have been adequaiely managed. The Governors and the School's management team have implernented strategies ènd tontrolsio monttor and manage the risks identified. Risk Management The School maintains z comprehen5Ne risk register. which identifs the principal risks, tO8ether with the steps to be taken to manage them. Each risk t5 categorised a5 Financial. Health and safety, Compliance. operatial or Bvildin8S.' the key strate8ic risk is non-compliance or breach of le8al/statutory responsibilities leèdiiiK to loss of confidence in the sch(x)l and risk to investment. The key operational risk is the1055 of key resources. both staff and financial. During the reportin8 period, there were no fundamental issues raised as a result of revIeng and operaring th¢s risk register. Governors formally review the risk gi%tel each tern). with key risks assessed each term at the relevant committees. The School Cofflinued to develop bus1rS Oicies during 2021-22 thr)ugh its Finance and General Purpose SU0Mrllittet, with changes ertdorsed at Board level. The hecessary business protection. human resources and financial lIcIeS continue to be in place land are regularly reviewed and vpdated as required). as are ihe khool's Safeguarding policies. ResERVES POUCY It is the policy of the School that its financial affairs ale managed soundly and ¥thin the confines ol a bud8et that is approved by the Go¥emor5. The nature of the Schoofs activities deterrnines that reserves fund the properry and oiher net assets. and are held to cover unexpected shortfalls in income. The Governor5 consider that. in the event of a significJrt drop in short term fundi they will be able to continue the School's atti¥ities t*knile considerati¢)n 1$ 8rwen to Wa in which additional fuThd5 may be raised. Page 10
BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEEI GOVERNORS. REPORT (INCORPORATING THE STrATEGIC REPORn CONTINUED AuTORs A resolution proposin8 that TC Grthjp be reappointed as audr(ots of the tompany will be put to the Annual General Meeting. DISCLOSURE OF INFORMATION TO AUDITORS Each of rhe Governors has confirmed thai theie is no inftymation relevant to the audit of which they are aware. twjt of whith the auditor5 are unaware. They have further confirmed that thev have taken appropriate steps to identfy such information and to esblISh that the auditors are aware of it. On behalf ofthe 8oard of Governors M S Hansra Ichairrnanl Chair of Governors Dated.. 2410412023 Page 11
BICKLEY PARK SCHOOL UMITED IUMITED BY GUARANTEEI STATEMENT OF GOVERNORS, RESPONSIBILMES The Governors. who are also the directorsforthe purp)ses of wmpany law. are responsible for preparin8 the Governors, Report lincludirng the StrategK Aewrtl and the financial statementsin accordance with appliCae law and United NgdOM Accountingstandards Iunited Kingdom Generally Accepted A(countin8 Pratticel. including Financial Reporting Stalard 102'The Fin¥Kial Reporting Standard in the UK and Republic of Ireland,. Company law requires the governors to prepare financial statements for exh finantial year which give a true antl fair view of the affairs of the charitable companyand of the incominE resources and application of resources. including the income and expendlUre, of the charitable company forthat year. In Prepari these ffinantial statementsthe govemors are requiredto: - selert suitable accountingpolicies and apply them consistently- - observe the methods and prirKiple5 of the Charities. SORP- make judgements and estimates that are ieasonable and prudent.. and prepare the financial statements on the Boing concern basis unless it is inappropriate to presume that the charitable cornpany will notcontin in operarKJn. The Governors are responsible for keepin8 adeouate accounting records that disclose with reasonable accurary ar any time the financial position of the charitable company and enable them to ensure that the COUnt$ comply with the Companie5 Act 2006. They are a150 re5pon5ible for safeguarding the assets of the chariiable company and hence fortakinÉ reasonable steps for the prevention and detection of fraud and other irregularities. Page 12
BICKLEY PARK SCHOOL LIMITED IUMrrEO 8YGLIARANfEEI REPORTOF THE INDEPENDENT AUOITOftSTOThE MÉMJEAS We ha¥ audlte¢J the sMe•nts of P4rk Sthool Lwnited IthE'chaiitabk tcrnpanl for thè vear ertded 31 August 2022 whith CompOrnI5e the sTrt2met cl Rnancial ACIMts. Ihe Balance Sheet, the Ca5hflow Statement and notestothe financial rtatements. ThÈfinandal rÈportin8 framew that has been ¥pplied in theii preparathin is applKabk Liw affld Llnited n8doM A¢cwntirb8SranO•rds. includthg Finarboal Reportin8 513Trdard 102 The HTharci•l Rwtyn8 stsThd•rd appable the UK Kih8do•h Gehenl Acceptèd AttOunDn8 Pia¢iKel. In ourownlon the finaht4ilsitements'. eive è true ahd fair VIÈW ol the State of the charirable company's affairs a5 Jt 31 Au8USt IOZZ and of it5 ithtontyÈ resources and applKation of re50rceS, indudin8 ity iThcome and eApenth[re. for ihe year then endtd; ha¥e beEn wopedy prepared ITh aEcordance with United Wdom Generalty A¢¢epied ntINg PraciKe: ènd - ha% been Prepa In Kwrd3A¢e tMih the requir•itsOflhecOMP1sAtt26 ba51s of oplnlon WÈ conduoed our in atturdance 7th IntErn31K1 Stsndard5 on Audtting IUXI IISAS (UK)) and aoplicable law. Out tespohsibilrts uhder those 5tandard5 we fvrther dexfibed ihe Awdi10¢5 responsibilits for the audit otthe fina18• sttEments sectiun ol our repDrt. We are dependent ol the tharitab compaty in attordaDtÈ with the ethical ¥equirements are reVant to our awdit of the fan(la1 siatement5 in the UK iThcluding the FRC'S EihKal Sdard. and tht pro¥Tr5 lIable lor Smal entities, and we have fulfiHed our ethKal responbIlLieS in accordance ith these requirernEnts. We bElievethat theaudit evhlen(e v4e have obtained 15 SUffictand approprlato topThJo a basfor 0r Contlusions rtl•tinEtownzconcern In audrtinÈ the finanEiol statements, we have conduded ihat the 8¢wernorfs se of the yn8 concern basts of accountins in the wep3ratMin of the fanCial 5tatefflents apprOPrle. based the work VM ha% portormod. noi tyntified any rnaierial un¢ert•iniies rel•tsA8 io tsnts condrttyjns that, indmdually or colleciNdy, may cast doubt on the charita compan¢s alitY to coThtIDue 35 3 loin8 concern for a period of at ast nIh$ when the fih¢o1 #aiements are authoriied for issue. Our respons1b111es and ihe responsibiliti o1th8 With re¥18018¢ÈWKern are described rhe relevant SeCtiL50IthisTOF0rt. Otherlnfomiatton The Qiher informatKJn comwises the Ihformatioh itILNled Ml the report ¥hJdiTr8 the 8overho<s repo¢ other ihart Ihe linanoal stateiiiehts out auditor's repDrt thereon_ Thegovernor5 afe responsible the other informatty. Our opiThwJn OD the fiDancièl stsiements doe5 not CLNer rhe other inforMaTr ahd. except tothe e¥tent otherw5e explicith staled in our repurt. vRdo nor eypre5s formofa5rance toDElUs therel. ith tonnecrhin wr(h our audit ofthe financk statements. Dr responsilty is io read the Oihe¢ inlorm3tKJn and, in doing so, un5ider whether the other Informat b materiaty incon$tnt with the financ•1 statenents or rr knowledge obtained ITh the aydir or herwise appears to be rnatefialty misstated. If YA* hlentify such material inc¢SlIen¢ieS apparent maietial missratememts. we ate wuittd to e[Mine ¥Yhether therè is a mar1 miSStatemert wl the finanrial st•temEnts or a mateiiil MlItement of thè her Informatbn. Ir. based oh the have perforrnEd. Vte conrluth that thwe 15 J maierial missraierntni ofthisothet inftymatioh. we¥e rtquired toreportthatfart. We have nothithgt¢ reportin thts resard. Pa8e 13
BICKLÉY PARK SCHOOL UMITED IUMITED BY GUAftANTEEI REPORT OFTHE INOEPENOENT AUDITORS TO THE MEMBERS OpiThofison other matter5 prescribed byt1 COme$A I(#)6 In our opinion. based on the work undertaken in the cwrse of the audit: the inlormation geTh in the govemors. rert (incorporating the straiegK report arwJ the director5 rerortl for the financial year for whh the finarKial statements are Ppared r5 consistent with the financial swements.. and the strategit KOrt arnj the directors. report ha¥e been prepared In accrKdar£e wth appIrab le8al requirements. matte onwhich we are required to rewrt byeKeption In the light of our kmwledge and Understandi ol the charitalle comparry and its erwironment ¢)btaI in the course of the audr(. we have not Identifd merial mi55taTrments in the strateKK rep)rt and the direttors, report. We have rnrhing to report in respect of the followiw matters in lan to whth the COMn$ kt 2CIJ6 requires us to port to you rf. in ouropinion= dequate accountin8 records have not been kepL or rnurns adewate for our audit have not been received from branches noi vislted by u5.. or the financial statements are not in a6reernt arcounting recoTd5 arKI retum5,' or rtain disclosures of director5, reffluneration 5pec"rfd by law are not made,. or we have received all informatK)n ond exOnObOns we re4uire foi our aud Responsibiliiiesof governors As explained mDre fulty in the 8ovemtys' responsibtlities statemenL go¥err (who are a&0 the dire¢tots of the ¢haTitable Company forthe purposes of company lawl are resrIble lorthe preparation of the financial 5taternents and for beiry% satisfied that they live a true and fair vie. and lor such interMI control as the govemors determine is necessary to enat4e the prepafaiion of firla1 5tsternents that a Ireelrom matertal misststemert. whetherdue to fraKI orefror. In preparlng ihe finanoal statements. Ihe governors are respjnsible ts assessiw ihe tharitstAe cornpanrfs ability to continue as a goi concern. disclosi as appIable. matters ted to goi concern and using the 8tsn8 concern basis of accounting un$ go¥emors eIr intend to ltsjvhjate the tharitable company or tocease ¢Jperati0Th5. or have no aliStaernatiVe to doso. Audiioes responsibilitieslorim audit dthe fin•wial statemen Our objertives are to obtsin rea50Trable assura whether the financial statements as a whole are free Irom material rnis5tstemenL whetr due to fTrud or error. and to issue an audito¢s rewrt that includes our opinion. Reasonable assur• bs a kvel of assurae. twt i% not a guarantee that an aud condutted in xeordarewlth I&As IUKI W11 alwaysdÈtetta material misstatemÈntwln r( exis Mi55taternents tan •rise from fraud or error and are considered material rf. indIdUal or in the aggregate. they could aSOnablY be Exted to inflUere the economic de£isions of users taken on the basis of these fiman¢ial $tefits. Irregularities, induding fraud. ire instènces of rth-compliance with wS and reguktiorts. The eent to whichour procedures a ¢4ble of deted1 IgularleS. ¢dIr*fraIK. is detailed bebw. Pa8e 14
BICKLEY PARK SCHOOL LIMITED IUMITED 8YGUARANTEei REPORT OF THE INDEpENDEr AUDifoRS TOTHE MEMBEILS Extent to whkh the ad¥S £onsided tapableof detettry IrrelaltiQs Irdi1r1d The oblettives of Ir in pect io ftsud. a. to Klentify and assessthe iisks ol material misststement of the financial 5tatemeThts due to fraud,. to obtsin Sufficnt •ppropriate •udtt eviLlere regarding the ssessed ris5 Ot rnaterial mis5tstewt due to houd. through de5iKning a1 IMPTntiry¢ appropriate re5ponses- and to re5p)nd approWlate to fraLI or suspected fraud Idents during the ?udit. However, the primary responsibility for the prevention and detectH)Th of fraud rests with both those charged with governan ofthe entty aTrJ its management. Ourapyoath was asft¥llows= We identified areas of laws and re8ulatiofis that ¢oyld reasonabfy te expetted to have a material effett on the financi•l stoternents érom thjr general sertor experien. afid through with the governors and other rnanagerrent 135 required ty audrf¢ing stsndardsl. and discussed with the 8ovemors and other mina8ernentthe policie5 and proudure5 regardIrmplI1nct with I•w54nd re8ul•tK3ns15ee bEIDWI. We identifd the following area5 a5 rnD5t likely to have such an effetl.. #1th and safety.. fjerrnl Data Protection Regulation IGDPRI.. Iraud.. bribery and cormption. school inspections. DBS thetks, and ernployrnent law. Auditing sta[d$ liinit required #udit procedure5 tts thntify non0mlance with these laws and reEulation5 to enquiry of the goverrK)r5 and other manaEement and in5pettiofb of regulatory and legal torre5pondence, rf any_ Tr identrfied adual Or susperted non<omplian¢e was not sUfflentlY significanttoour auditto resu inour response teirvx thntrfiEd as a kry aud1 matter. We consldered the lÈ8al and regulatory frameworks directty apPIatrA to the finaal statements reportlng framewtsrk IFRS 102. the C¢mpaNes Acr and the Charities Act 20111 and the reknnt tsx COMlarKe regulations in the UK. We considered the nature of the Charitable comp3nVs operations. the control en¥ironmeni financial performance. We communitated identrfd laws and relulaisons thrwgh¢xrt Our team and rnalned art to any indKations of non-compliance ih¢ou8houtthe audit. We considered the woodures and conirols that ihe charitabk compary has estsblished to addres5 ri4k5 identified. or that otherwise wevenl deter and detect fraud.. and how senior management monitors those programmes and controls. Based on thls understandirg we desi8rd wr audit procedure5 to Klentify r-COMlance with sh and regulatH?ns. Where the risk was Conside to te h¥her. performed audit protedures to address each identified fraud risk These procedLres irKhJded.. testine manual tourna15.' reviewing the finan¢ial Statement disclosures and testin8 to supportin8 dcrufflentauon.. perforrnir¥ anatytical procedures,. ond enquSring ol management, aTrJ were des¥ned to prtr4•Je Sonale a55urarKe thotthe fiThoncrdl 5tsternents were free Irom fraud or error. Owkng to ihe Inherent hmltatknns of an there an una¥ohlabJe risk that we may not have detected some material misstatements in the finanoal ststements. e¥en ihough we have properly planned and performed our audit In accordarKe wth auditing standards. For examF4e. the fvrther removed non- compliance with laws and regulatsons lirregukrit*sl is fiom the events aTrJ transactions refkned in the financial statements. the less likety the inherenity limited procedures wuld ty auditing standards would identify SL The risk is also greater regafding irregularitrds (urn8 due to fraud rather ihan error. as fraLsd involves intentional concealmert. forgery. cdlusion. ¢)missx)n or misrepresentatv)n. We are t responsible for prÈventin8 non-complrdnQ and be txpetted to detett non<Qmpliare with all and rEgulatK)ns. P¥e IS
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENOENT AUDITORS TO TH£ MEMBERS Use of our report This report 15 made 501ely to the charitable company'5 members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 21Y)6. Our audit work has been undertaken so that we might state to the charitable company's membefs those matters we are required to state to them in an auditors, report and for the no other purpose. To the fvllest extent pern)itted by law. we do not accept or assume responsibility to inyone other than the charitable company and the charitable CoMnY,5 members. as 3 bth. for our audit work. or for the opinions we have fofmed. Mark Cummlns FCCA (Seniar Statirtory AUrtorI for arhd on behaw of TC Group Statutory Awditors Office: Sussex Ile: 2510412023 Page 16
81CKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND EXPENDITURE ACCOUN FOR THE YEAR ENDED 31 AUGUST 2022 Notes Total 2022 Total 2021 INCOME FROM: other trading artivities Inve5tment5 Charitable actiwitie5 Total income 41,796 280 5.307,915 9.991 31.044 89 5.185".266 5.216.399 EXPENDITURE ON: Raisin8 funds Chariiable activities Tal expenditurè 20.284 5.126,967 5.147,251 11.242 4.702.210 4.713.452 Net intomè 202,740 502,947 Fund balances brought forward 8.017.184 7.514.237 Fund balances <arYled fon¥ard .219.924 8,017,184 All incorne and gains for the year are recognised above. AJI of the sthool's artwrties are classed as continuin6. The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. All of the school's funds are ntriCted. Page 17
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUAAANTEEI BALANCE SHEET AS AT 31 AUGusf 2022 Company Number 1x1733991 2022 2021 FIXED ASS5 Tangible fixed a55ets Investments li 19 7.204.018 725.¢X 7.929.018 7,203.057 725,000 7.928.057 CURRENT ASSETS Debtors Cash at bank and in hand 116.398 1.829.517 1,945,915 67.792 1.691.276 1,759,068 CURRENT LIABILITIES Credltors due within one year {1.515.) 11.481.606) CVRRElff ASSErs 430,816 277,462 TOTAL ASSETS LESS CURRENT UABIUTIES 8.359,834 8,205,519 LONG TERM LIA81LITIES Creditors due after one year 14 {139,9101 1188,3351 NAssET$ 8.219.924 8.017.184 REPRESENTEO BY: Unrestricted general fund5 8.219.924 8.017.184 8,219,924 8,017,184 The accounts were approve(I by the board and signed on their behalf by= M S Hansra IChairn7an) Oate.. 2410412023 Page 18
BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEEI CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGusf 20Z2 2022 2011 Cash Ilows Irom operating activities: Net income for the year AdJustments for. Depreciation charges Investment gain Dividends, interest and rents from investments. (Profitl from sale of tangible fixed assets Ilncrea5el/decrease in debtors Increaselldecreasel in creditors Nèt cash pr<)vlded by/lu5ed In) Operat1 activities 202.740 502,947 li 19 23.930 25,570 12801 405 148.6C61 33.493 1891 3,459 55.613 58.974 211.682 646,474 Cash flows from Inv•stln8 acti¥lti•s: Dividends. inierest and renis from investments Purchase of tangible fixed assets Net cash provlded by/lused in) in¥estini activities 280 125,2961 89 1105,1371 li 125,0161 1105,0481 Cash Ilows from financing actfvities: Repayments of borrowing Net cash provlded by/{used In) fwnclng artivities 148.42SI 147.4201 148,4251 147.4201 Change In cash and cash equivalents in the yèar 138.241 494.006 sh and cash equlvalents at the beBinnin8 of ihe year 1.691,276 1,197,270 Cash and cash equhalents at the end of the year 1.829.517 1.691.276 Analysis of Cash and tash equivalents Cash at bank and in hand Notice deposits (less than 30 days) Notite deposits (more than 30 day51 Total cash and tash È4ui¥alÈrts 1.252.369 516,227 60.921 1.829.517 1,114,414 515.986 60.876 1,691,276 Page 19
BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENOEO 31 AUGUST 2021 I STATUTORY INFOAMATrON The charity is a charitable company. limited by guarantee. registered in England and Wales. The registered offite. Company number and char5ty number are detailtd in the Legal and Administrative Information. 2 ACCOUPITING POLICIES 2.1 Basls of preparallon The financial statements have been prepared under the Gimpanie5 Act 2LK16 and in accordare wtth the Charitses. Statement of Recommended PrxiKe ISORP IFRS10211 and Financial Reportin8 Standard 102. The charitable company meets the defini1 of a public benefit eniity under FR5102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy. The financial 5ratements are prepared in stedtn& which is the functKJnal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. After reviewtng the charity'5 forecasts and projections. the governors have a reasonable expectation thar the charity has adequate resources to continue in operatn81 existence for the foreseeable future. The charity therefore continues to adopt the 8oin8 concern basis in preparin8 its financial statements. This takes into account any known impact of the COVID- 19 pandemK. 2.2 Iniome Fees receNable and charges for 5eNces. le55 any allowances. scholarships and bursaries granted by the school against those fees are acttsunted lor in the period in whith the service is provided. Where fees art received for a tutule service period they a included in deferred income. includin8 those fees received under an advance fee payment Kherne. Investment income is (onted for on an accruals basi%. Dorations, le8acies, 8rants and other voluntary income are accounted for as and when entitlernent arises. the amount can be reliably measured and the economK benefit is considered probaNe. Where a donor or an appeal has imposed resrrittions the income iscredited to a restricted fund. 2.3 Expenditure Expenditure is accounted for on an accruals basis with irrecoveratrAe VAT included wtth the ttem to which it relates. Governance costs include those cOS axIated with meetin8 the consttutiOnal and statutory re4uirernÈnts of the Char and include the audr( fees and costs linked to ihe strategK management of the charity. All costs are allocated between expenditure categories and departments on a basis designed to reflert the use of the rewurce. Costs relatin8to a particular attNity are alkjcated dire¥. Paee 20
BICKLEY PARK SCHOOL LIMITED {LImE0 BY GUARAMfEEI NOTES TO THE FINANCIAL STATEMEKrs FOR ThE YEAR ENDED 31 AUGUST 2022 2.4 Tangiblè fixèd assèts and depretiatio Tangible fixed asseis other ihan freehold land are stated at cost less deplation. Depreciation is provided at rates calculated to write off the cost le$5 estimated residual value of eath asset over its expected useful life as fdlows.. Freehold land is not depretiated Freehold buildings FNtures. fittings and equipment Motor vehicles Portable buildin8s over 7 years otherwise not depreciated 15% on written down value and 20% on cost 20% on written down value Depretiation is provided on freehold properties based on the difference between book value and estimated residual value charged over the useful life of the properties. The Governor5 are of the opinion that, having regard to esbmated residual values, based on prices prevailin8 at the dates of acquisition and the estimated useful lives. any depreciation involved. whether annual or cumulative would noi be material. 2.5 Leasln8 and h[ purthase MMItments Rentals paid under operating leases art charged against income on a straight line basis over the period of the lease. 2.6 Pension5 Teaching staff are members of the Teachers. Pension Scheme ITPSI. a dehned benefit scheme admlnistered by the Teachers, Pension Agency. Contributions to the scheme are charged to the Statement of Financial Activities a5 they fall due. The TPS is an unlunded scheme. Contribution5 on a'pay as you go. basis are tredited to the exchequer under arrangements 8overned by the Superannuation Art 1972. Artuarial valuations are carried out on a notional set of investments. Under the tlefinitions sei out in FRS 102 the TPS is a multi- employer pension scheme. The charity is unable to identify its share of the undertyin8 Inotionall asseis and liabilities of the 5cherne. Accordingly, under FRS 102 the scheme is accounted for as if it wert a defined contribution scheme. The charity also contributes to personal pension schemes for its non-teachin8 Staff. Page 21
BICKLEY PARK SCHOOL LIMITED ILIMITEO BY GUARANTeEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGU5T2022 2.7 Debtors Trade and other debtor5 a recognised at the 5ettlÈrnent amount duè after any trade discount offered. Prepayments a valued at the amount prepaid net of any Irade discounts due. 2A Cash al bank and In habxl Cash at bank and in hand includes cash and short term hhlY liquid investments. The govemors seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow. 2.9 Credltors arrfl provisions Creditors and provisions are recogni5ed where the chartty has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the arnount due to settle the obligation can be measured of estimated reliably. 2.10 Fund accountin8 Unrestricted funds comprise those fvnds which can be used in accordance with the charitsble objects at the discretion of the governors. 3 TURNOVER The turnover of the charity is wholly attribuble to the objects of the charity a5 Stated in the Governors, Report and is earned entirely within the UK. 4 NET IPICOME/EXPENDITURE This is stated after charging.. 2022 2021 Operating lease payments Depreciation Auditors, remuneration- audit 5er¥ices Auditor5, remuneration- non-audit 5er¥ice5 82.101 23.930 11.820 10.350 73.358 25.570 11.700 9.870 Page 22
BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEEI NOTESTOThE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2022 5 TAXATION The charitable company is regIsted as a charity attd all of 115 income falls wtthin the exemptions under Part 11 of the Corporation Tax Act 2010. 6 INCOMÉ FROM OTHER TRADING AcllviT*S TOTAL Z022 TOTAL Z021 Rentsl income 4L796 31,1)44 7 INCOME FROM INVESTME14TS TOTAL zozz TOTAL Z021 lfiterest 89 INCOMÉ FROM CHARITABLE AcnviTIES TOTAL zozz TOTAL Z021 Gross school fees less bursaries and ¥ll<Minces less COVID-1g discounts Net school fees Add: 5,466,114 1287.$501 5,429,948 1252,2581 161,0411 5.116.649 5.171564 Aeglstration fees xtras income Beforelafter sth¢ol care Oonations RS Grant 7.9(KJ 2,722 29,950 26,090 1,955 S,185.266 29.967 75334 11250 SJ07.91S Page 23
BICKLEY PARK SCHOOL UMITED IIIMITED BY GUARANTEE) NOTESTO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST2022 9 ANALY515 OF EXPENDITURE stsff DepreciawoTh Other Total Total 2021 Cost ol raIsIfvrM1s. OthertradinÈ activities Financing costs Totsl cost of ralsln8 fund5 12,251 8.033 20.284 12.251 8,033 20.284 2.958 8.284 11.242 Ch•riuble e¥pendiWft Edutation Teaching Welfare Premises Support and 8o¥ernance Total charitable expEnditure 3.121.232 81.8S 83.520 444,916 3.731.558 23.930 239.869 40S.720 446.407 279.483 1.371.479 3.385.031 487.610 529,927 714.399 5.126.967 3.197,038 409.041 475,867 620,264 4,702,210 23.930 Tot•1 expendliure 3.731.558 23.930 1.391.763 5.147251 4.713.452 Analysis of sUPPOrt and govtrnance rosts: 2022 2021 Governance costs.. Auditors rernuneration for audit seryice5 Totsl 8overnince costs ,020 13.020 12.060 12.060 Support costs.. Auditors, remuneratK)n for non audtt semtes Le8al and professional fees relating to support Support staff wages, national insurance and FeTh5*)n Other SLIPrt costs 12.150 77.385 444.916 176.928 14.339 3,384 433.760 156.721 724.399 620.264 Page 24
BICKLEY PARK SCHOOL LIMrrED (LIMITED BY GUAFIANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2022 10 STAFF COSTS The average monthly numberof ernoYeeS during the year wa5.. 2022 Plumber 2021 Nller Teachlng Domestics. eardenersand maintenance Administration 14 13 The a88re8ate payroll eostsforthe yearwere a5folk)ws.' 2022 2021 Wages and salaries Social security COSIS Pension costs 3.031195 Z93.599 405,764 3.731.558 2,795.302 Z74.602 382,159 3,452.063 None of the governors received any remuneration orother benefits from the school or any connected body. No Go¥ernor$12019'. nil) had expenses feimbursed in rhe amounts detailed in the expenditure noie above. 51aff earniftÉ ift excess of f60.iMJO per ènnum in the followin8 bands are.. 2022 Number 2021 Nurrl 60.1X4)- £69,999 £80.OC¥) £89.999 £120.C¥)0- £129.999 £130.(KQ- £139.999 Of the empbyees whose ernoluments exceed £60.000. 412021.. 41 habE retirement benefits accruing under defined benefits schemes. Contributions in the year forthose employee5 amounted to £35.06012021.. £61.7531. The kry management personnel of the school tompri5ethe senior leadership team. 2022 2021 Aggregate ernployee benefits of key managemeni personn lincludinB pension contributions) 6SI.$84 701.557 The above costs Include settlement amounts to fomier empltyees. thetermsofwhich are tonfidential. Pa8e 25
BICKLEY PARK SCHOOL LIMITED ILIMITEO BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 11 TANGIBLE FIXED ASSETS Freehold Property FureS & FinE5 Motor Vehlcles Cost At I September 2021 7,243.678 725.304 35.658 8,004,640 Additions 1.527 23.769 25.296 Disposals 14,1941 14.1941 At 31 August 2022 7,245,205 749,073 31,464 8,025,742 Depreciation At I September 2021 155.428 635.857 10.298 801.583 Charge for year 21,452 2.478 23.930 Disposals 13.7891 13.7891 At 31 August 2022 155.428 657.309 8,987 821,724 Net Book Value At 31 August 2022 7.089,777 91,764 22.477 7,204,018 At 31 August 2021 7.68.250 89.447 25.360 7.203,057 Page 26
BICKLEY PARK SCHOOL LIMITED ILIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2022 12 DEBTORS 20Z2 2021 Fee debtors Prepayments and accrued income 106,643 9.755 116.398 55,946 11.846 67.792 13 CREDITORS: due ¥Athin one year 2022 2021 Bank loans and overdrafts Trade creditors Other creditors Accruals Fees in Advance 52,657 45,602 77,972 187.890 271,274 806,738 72,966 1,515,099 52,657 51,175 90,369 47,298 489,435 676,823 73,849 1,481,606 Deposits other taxes and 500al security Fee5 in advance represent fees received for the Autumn tem 2022. 14 CREDITORS: due after one year 2022 2021 Bank loans 139,910 139,910 188,335 188,335 15 BANK LOAN SECURITY AND MATURITY 2022 zozi Bank loans are wholly repayable in instalments as follows: Less than one year In more than one year but le5S than two years In more than two years but less than five years In more than five years 52,657 52,657 87.253 52,657 52,632 135,703 192,567 240,992 The bank loan is secured by a tharge over the freehold property and other assets of the charity- The loan matures in July 2025 and has an interest rate of 1.77% above base rate. Page 27
BICKLEY PARK SCHOOL LIMITED ILIMITED bYGUARANTEei NOTES TO THE FINANCIAL STATEMEpif5 FOR THE YEAR ENDED 31 AUGUST 2022 16 COMMITMENTS UNDER OPERATING LEASESAND CAPThAiCOMMIIMEIIWS At 31 AuKust 2022 the company had total cornmitnts urthr non-cancellatAe operating aseS payable asfollows.. LaNI and 8uildlnRs 2022 2021 Oth¢r 2022 2021 Within one year 8etween one and flveyears Over fi¥e years 39.600 39.600 158.400 158.400 39,600 79.200 237.600 277,21X) 105,455 189.988 42.501 38.191 62.954 ISI.797 The SCI1 lease for the playing field ends in 2028. 17 PENSION COMMITMEf4TS The School partitipates in the Teachers. Pension Scheme 1.the TPS-I for its teaching staff. The penslon charge for the year includes contributions payable to the TPS of £338.46312021.. £341.4691 and at the year end ENil12021.. £Nill wa5 accrued in respect of contr1ttionSto thi5 scheme. The TP5 is an unftjnded mullimployer defined beneltts pension scheme g¢)vemed by The Teachers. Pensions Regulations 2010 las amended) and The Teache, Pension Scheme ReEulation5 2014 la5 mended). Mernbers contribute on a -pay as you go- basis contributions from mernbers and the ernployer being credited to the Exchequer. Reiirernent and other pensp)n benefrts are paid by publk funds provided by Padiament. The employer contribution rate is set by the Secretary of 51ate followlTrg scheff valuations undertaken bv the Governrnent ActuaFV5 Department. The most reeent attuarial valuation of the TPS was prepad as ai 31 March 2016 and the Valuation Report. whKh was published ID March 2019. confirmeLS thal the ernployer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 5eprember 2019. Employers are also required to pay a scheme administration le¥y of 0.08% KivinÈ a total empkyer ¢ofitribution rate of 23.68%. The 31 March 2016 Valuation ReFx)rt was prepafed in accordance with the benefits set OLrt in the scheme regulations and under the opproach 5pectfied in the Direction5, a5 they applied at S March 2019. However. the assumptions were considered and set by the Department for Education prior to rhe rnliThg In the 'McCloudl5argeant tase,. This tase has required the courts to consider cases regarding the implementation ol the 2015 reforms to Publ Servte Pensions the Teachers. Pensions. On 27 June 2019 the Suprerne Court denied the govemment perMissfi to appeal the Court of Appeal's judgrnent that transyiional provisions introduced to the reformed pension Schemes in 2015 gave rise to unlawful age discrimination. The government Is respethng the Courfs deCisn and has said tt will engage fully with the ErnO¥ment Tribunal a5 well 15 empb)yer and member representatives to agree how the discriminations will be remedied. The government annourKed on 4 February 2021 that it intends to proceed with 3 deferred choice underpin under which members be able to choose either leg3cy or reformed scheme benelits in respect ol their Service durinK the period between l April 2015 and 31 March 20Z2 at the POiAt they become payable. Pa8e 28
BICKLEY PARK SCHOOL LIMITED (LIMITED 8Y GUARANTEE) NOTES TO THE FINANCIAL sfATEMEfiTS FOR THE YEAR ENDED 31 AUGUST2022 17 PENSION COMMITMENfs {col1NuED1 The TPS is subject to a cost cap methanism which was put in place to protect taxpayers against unforeseen changes in scheme tosts. The Chief Setretary to the TaSUry. having in 2018 announced that there would be a re¥iew of this Cost cap methani5rn. in January 2019 announced a pause to the cost cap mechanism followin8 the Court of Appeal's ruling in the McOtyJd/Sargeant case and until there is certainty about the walue of pensions to employees from April 2015 onwards. The pause was lifted in July 2020. and a consultation was launched on 24 June on proposed changes to the cost control rnethanism following a review by the Government Artuary. Following a public consultation. the Government have accepted three key proposals recommended by the Government Actuary, and are aiming to implement these chan8es in time forthe 2020 valuations. The 2016 cost Contr valuations have since been completed in January 2022, and the results irtdicated that there would be no thanges to benefits or member contributions QUired. The resulrs of the cost cap valvation are not used to set employer contribution rate, and HM Treasvry has confirmed that any thanges to the employer ontribulion rale frt)m the 2020valuations will take place in April 2024. Until the 2020 v31uation is completed it is not P055ible to condude on any financial impact or luture changès to the contribution rates of the TPS. Accordingty, provision for any addstional past benefit pension costs is included in these financial statements. The school also contributes to defined CL)niribution schern on behalf ol its other staft. Employer contribution5 payable to these schemes were £67,30112021: £40.6901 and at the year end £Nil 12021.. £22SI wa5 accrued in respect of contributions due to these scheme5. 18 SHARE CAPITAL AND CONTROL The school is limited by guarantee and does not have a share capital. In the event of a wlndin8 up eath member guarantees to contribute an amount of no more than £1. The board ofBo¥ernors control the 5th001. 19 INVESTMENTS 2022 2021 At the be8innin8 of year Net investment8ainslllossesl 725AIOO 725.((XJ At the end of the year 725.000 725.000 The above relates to a freehold property owned by the sthool. whith is now let at a tornmercial rate. The Governors estirnated it5 market value at the yearend was £725.). 20 RELATED PARnES There were no related party tran5artions durin8 the year 12021- None). Details on 8overnols expense reimbursements is intluded in note 10. Pa8e 29