COMPANY NUMBER: 00733991 CHARITY NUMBER: 307915 GOVERNORS, REpoirr, STRATEGIC REPORT AND FINANCIAL STATEMENTS FOR BICKLEY PARK SCHOOL LIMITED (UMITED BY GUARANTEE) FOR THE YEAR ENDEO 31 AUGusf 2023 11111 11111 .NIJJ8R￿. 1fI05f2024 CC•APMIIES HOUSE BICKLEY PARK SCHOOL LIMITED {LIMITED BY GUARANTEEI CONTENTS PAGE Legal and Administrative Information Governors, Report lincorporating the StrateEiC Report) 2-10 Statement of Governors, Responsibilities li Report of the Independent Auditors 12-15 Statement of Financial Activities 16 Balance Sheet 17 Ca5hflow Ststement 18 Notes to the Financial Statements 19-28 BICKLEY PARK SCHOOL UMITED {UMITED BY GUARANTEEI LEGAL AND ADMINISTRATIVE INFORMATION Go¥emors M Hansra Ichaimianl J Carpenter BA (Deputy Chaimianl P CAlmond B Charles G Nuijens 8A J Priory D Robertson J s riley FCA Headmaster T Quilter Ifr(wn I September 20231 D Godwin Company number 733991 Charlty numb•r 307915 Prfndpal address Bickley Park Sthool 24 Page Heath Lane 8romley Kent BRI 20S Reglstered office The Courtyard Shoreham Road Upper Beeding Steynin8 West Sussex BN44 3TN Auditors TC Group The Courtyard Shoreham Road Upper Beedin8 Steyning West Sussex BN44 3TN Bankers National Westminster Bank plc 143 High Street Bromley Kent BRI IYZ Page I BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORn The Governors of Bickley Park School {who are also the Directors of the Company for the purposes of company lawl. present their Annual Report and Accounts for the Year Ended 31 August 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements compfy with the Charities Act 2011. the Companies Act 2CM)6. the Memorandum and Articles of Association. and the Charities Statement of Recommended Practice I'charities SORP") (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK.. FRS 1021 issued in October 2019. STRUCTURE, GOVERNANCE AND MANAGEMENT The company is a charity• governed by its Memorandum and Articles of Association. Membership of the governing body is reviewed regularly and is refreshed by the appointment of new governors. normally comprising ex-parents who are interested in developing the School, together with academics able to offer particular expertise to the School. New governor5 are chosen for their experien￿ in relevant fields and where necessary are given guidance in their duties and responsibilities. The Governing Body meets as a full Board each term and delegate5 particular tasks to a range of committees covering inter alia. Finance, 8uilding and Safety lincluding Safeguarding and Risk Mana8ementl. Development and Strategic planni￿ Marketin& Education and CurriculLSm. The Risk Management Sutrpcommittee regularly assesses and documents key and major risks to which the School may be exposed. The Governors are satisfied that systems and procedures are In place to manage exposure to the major risks. whilst recognising that these can only provide reasonable but not absolute assurance that major risks are being adequately managed. Govemlnz Body Bickley Park School is a charity operated through a company limited by guarantee. Legal and administrative information is set out at the front of these financial statements. Governors, who are also directors for the purpo5e5 Qf company law. and who served during the period were.. M S Hansra (Chairman) J Carpenter BA (Deputy Chairman) J S Tiley FCA P C Almond G Nuijens J Priory B Charles D Percival (Resigned 31 March 20231 D Robertson (Appointed 14 March 2023) Pa8e 2 BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEE} GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED None of the Governors has any beneficial interest in the company. Each Governor makes an annual declaration of any conflirt of interest in addition to one for each Board meeting attended. All Governors are members of the company and guarantee to contribute £1 in the event of a winding up. Governors determine the general policies and strategic direction of the School. The day-to-day management was delegated to the Acting Heads. Mr Sam Patel for Prep and Mr Jonathan Poole for Pre-Prep (both from I September 2022 to end-AuEust 2023). SUPFK)rted by Mr David Faries (Bursar). and the Senior Leadership Team. Investment powers are governed by the Memorandum and Articles of Association. which place no restriction on the nature of investments that may be made. During the period, the School received income of £65,899 from other trading activities lincluding rentl and £8.976 bank interest from cash deposit. totalling £74.875 {2022: £42.076) GovemorTr3ining and Indurtion All individuals considered as potential Governors are invited to the School for a discussion with the Head and the Chairman prior to being proposed at a full Board meeting. They are also gtven comprehensive information about the charity and their responsibilities. In addition to attending governance meetings, all Governors are expected to spend some time at the School each year to ensure they fulty understand the workings of the school. Post-election induction is carried out by the Bursar ond Safe-Guarding training completed on-line. Each year all Governor5 are assessed for their training requirements and it is the policy of the Trust to offer training course5 either internally or externally as deemed appropriate. A log of all training given is maintained by the Bursar. Overview The Governors recognise their accountability across a number of areas. summarised as follows= Ultimate accountability for directing the affairs of the School. Assuring themselves that the School is solvent and well run. Delivering charitable outcomes for the benefit of the public. Assuring themselve5 of compliance with= Charity law- and Operating within the terms of the Company Memorandum and Articles of Association. Duty of prudence: Remain sofvent by keeping informed of the financial position- Use of funds within the purpose of the Sthool- Avoid undue risk,. and Take specbal care when borrowing Page 3 BICKLEY PARK SCHOOL LIMITED (LIMITED BY GVARANTEE) GOVERNORS, REPORT IINCORPORATING THE StRATEGIC REPORT) CONTINUED Duty of care: Exercise reasonable care by meetin8 regularly to assure themselves there is effectNe oversight of School activities: Assure themselves that appropriate Steps are being taken as regards the safety and well-being of all Pupils. Staff and Parents, together with others associated with the School. and in particular take all necessary steps to maintain and enforce effective Safeguarding policies and procedures. Use personal knowledge. experience and evidence to assure themselves that the School is well run and efficient: and Take professional advice on all matters where there is material risk. Define the strategic aims of the School. Define lin tandem with the Headl objectives and directions that deliver the strategic aims of the School. Identify and manage risks to assure themselves that robust systerns are in place to monitor all known risks. To be confident that the Goveming Body can deliver against these accountabilities and demonstrate strong oversight of the School. sUPPOrted by an effective governan￿ structure. Organisation and Management The governance structure for the School's Governing Body is represented below (all meetings are chaired by a governor unless declared below): Maln Board: Comprising all the Governors of the School: it meet5 three time5 a year. Finance and General Purpose5 Committee: This key sub-committee of the Main Board meets three times a year and more frequently as necessary. to review and act upon any and all matter5 financial. Marketing Committee: This sub-committee of the Main Board meets three times a vear and is chaired by the Head or the School's Head of Marketin8. Development and Strategic Planning Committee: This sutpcommittee of the Main Board meets three tirnes a year land more frequently if required for specific projects via designated working groups). Education Committee: This sub-committee of the Main Board meets three time5 vear ond is chaired by the Head. Bullding51 Health and Safety Comrnittee: This sub-committee of the Main Board meet5 three times a year land more frequently rf required) and reviews compliance with key policies such as safeguardi￿ Site Safety and Security Compliance. on which it reports to the Board. Rlsk Manazement Commlttee: This sub-committee of the Buildings. Health and Safety Committee meets three times a year land more frequently if required} and is chaired by the Bursar. Page 4 BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT IINCORPORATING THE STrATEGIC REPORn CONTINUED All Governors attend the Main Board and tI￿se who are not serving Heads are members of at least one sub-committee. All committees report back formally to the Main 803rd meetings. The Governors determine the general Strategic Policy of the School. which is reviewed at least annually (supported by a strategy working group which is convened more frequently a5 required). The day-tQ-day management and operation of the School is delegated to the Head and the Bursar. supported by the SLT. OBJEcllvES AND AcllviTIES Charltable Objects Bickley Park School is o leading selertNe independent day school whose vision is to deliver a world-class preparatory school education for all pupi15, thereby providing a strong foundation for a successful springboard to future schools. The School's objective. Set out in the Memorandum and Articles of Association. is to promote the cause of education generalty. This is achieved by a well-managed operation of the School in providing education for boys and girls up to the age of 4, and then boys through to the age of 13+, preparing them for examinations to senior independent schools and to gain the highest academic levels. The targets of the S¢hool are achieved within a competitive fee structure that rigorously maintains financial viability- The School ended the academic year with 379 pupils. In meeting these objectives. the School's public benefrt aim 15 to provide a highly regarded education aimed at motivating pupils to achieve. The School delivers a balanced, challenging and high-quality curriculum that amis all pupils with the skills and attributes to thrive in their later lives as individuals and global citizens. The educational experience encompasses academic teaching and development of wider 51)ortin& artiSti¢ and social skills where each pupil can fulfil their potential.. gain the right sort of confidence and the ability to communicate effertively and empathetically with others. In addition. the School'5 policy demand5 c105e attention to pupils, pastoral development throughout their stay at the khool. with an intended aim of sharing common values including Kindness. Honesty. Respect. Integrity and Resilience. The Board of Govemor5. under the dirertion and sUPPOrt of the Head. encourages all staff to achieve their maximum potential. This is done by investing in the staff s future. not only by the means of training and remuneration, but also by promoting their professional development and engagement in the achievement of ex¢ellen¢e in all school activities. Having no outside endowments, the School meets all bursary needs from funds derived from ongoing activities. The Governors have authorised the Head to allocate up to 6% of fee income for deseNing cases which must be validated and approved by the Chair of Governors. The bursarial proportion of fees may be exceeded temporarily Subject to Board approval. The School site is regulady used by a variety of local community organisations either for no charge, or a minimal fee. These include a range of sports clubs. music group5. drama club5 and a local state school who use the swimming pool and are provided with swimming tuition. Bickley Park facilities remain a valuable and much appreciated resource to the local community- Page 5 BICKLEY PARK SCHOOL UMITED (LIMITED BY GUARANTEE) GOVERNORS. REPORT IINCORPORATING THE STRATEGIC REPORT) coMriNUED In the furtherano of these aims. the School's Governors. as the charivs trustees. have considered the Charity Commission's guidance on public benefft. including the guidance 'Public benefit: running a charity (P821'. Inspection The School was subjected to a Compliance and Educational Quality Inspection by ISI121 to 23 March 20231. Inspectors observed lessons, spoke to pupils and examined samples of pupils, work and curriculum documentation. Discussions were held with members of staff and governors (Chair and Safeguarding). Inspectors observed Some extra-curricular artivitie5 and visited facilities for the youngest pupils. togeiher with learning sUPPOrt and educational resource area5. In addition, responses of parents and staff to pre-inspection questions were considered. Bi¢kley Park School'5 Educational Quality (pupils, acadernic and other achievements) and Pupil Personal Development were assessed as Excellent the highest rating. All Reguktory Compliance standards were met. The Governors are pleased with the outcome and are satisfied that artion5 continue to be taken to further increase and improve provision across the entire school. Volunteers Bickley Park School As%)ciation IBPSAI. a committed parents. associatKJn. continue to provide great 5UPPOrt and assistance to the School through fundraising and other activities to the extent of more than 1.000 hours of voluntary service during the year. Significant contributions of funds have been made to school projects and new pledges of support are readi￿ forthcoming for new projects. The Governors would like to take this opportunity to record their appreciation of the BPSA'S continuing and valuable support of the School. STRATEGIC REPORT Achievements and Perfomian¢e A professional and consistent approach, which aims to inspire confidence and en8a8e positively with the parent body and wider community, has been much appreciated. Parental support remained constant and has been invaluable in engendering a close partnership model. The School's commitment to deliver a high-qualtty educational provision. whilst ensurin8 pupil and staff wellbein& remains a prime objective. The School, building on the Strong foundation of recent year5. has enjoyed another successful year. achieving a consistent surplu5 and continues to gain excel￿nt academic results. The Governors are delighted with the strong results that were achieved at Illp. Il+ and 13+. Su¢¢e5s in exams is a combination of teacher input and pupil commitment. The results evidence the quality of teaching and learning despite a challenging period for schools immediately after the Covid period. Page 6 BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED Eight 13+ Independent Day School scholarships were awarded from a cohort of 25 boys with the majority of leaver5 gaining places at their first-choice senior school= Three Y8 boys achieved academic scholarships to selective schools. One scholarship wa5 awarded ot Il+ and 95% of boys who sat the Kent Grammar tests reached the grammar standard. Sport continues to play an important part in School life, with good achievements for School teams on the rugby. football and cricket field. In addition to the major team sports. boy5 have been involved in cross-country, athletics. fencin& swimmin& golf. ryclin& tennis. hockey, basketball. badminton, squash, table tennis and taekwondo. The School's longstanding association with the local cricket club. and on-51te facilities. provide pupils an environment to explore and extend their sportin& leadership and team working credentials. The School's community engagement. re-established after the necessary pause during Covid. encompasse5 a variety of events and quiz nights. out￿aCh projects supported gifts being sent to local care homes. donations to food banks and NHS charities, tO8ether with ipads donated to SLSPPOrt a local hospital. The Governors are delighted with the positive and enthuslastic support from the entire staff and School community. The on-going site transfomation programme, which hos a clear mandate from the Board, continues to deliver progressive and much needed change to meet the School'5 Strategic Vision. The Strategic Development Plan, which is revIev￿d and updated re8ularly, continues to be implemented acr055 a broad range of areas. Developments plans were reviewed in the latter part of the summer term with Tom Quilter, the incoming Head from September 2023. A clear priority was given to essential infrastructure improvements and educational resource5. The Governors continue to encoura8e the balanced and appropriate use. and benefits, of "digital teaching. in the classroom. Flnanclal Review Incomlng resources for the year were £5.575.67712022: £5.349.9911- This increase compared favourably to prior years and is further evidence of encouraging pupil number growth during a period of economic uncertainty. Judicious financial management durin8 the year allowed the School to continue to offer a high-quality independent education and to invest in its strategic development programme. The effects of cost of living pressures and an increasingly competitive environment for independent schools is likely to affect the income/cost rati05 at most prep schools. The governors will seek to maintain an appropriate balance by regularly reviewing all financial and opefational levers in conjunction with the Head and the Bursar. Resources expended in the year increased by less than 1% to £5.191.703 12022.. £5.147.2511. due mainly to prudent cost and contract management. The overall net surplus for the year was £383,974 up by 89%12022: £202,740), due largely to healthier pupil number5 and additional exceptional stsffing costs incurred during the previous year. The total unre5trirted reserves balance carried fonvard at 31 August 2023 was £8,603.898 12022.. £8,219.9241. Page 7 BICKLEY PARK SCHOOL UMITED ILIMITEO BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED Annual financial budgets are monitored regularly throughout the year. In the year under review, the 8enerated net income exceeded budget: a result that the Governors view as satisfartory. 8iven the unexpected challenges faced at the beginning of this period. In the event of a Significant drop in funding the Governors would consider the option5 available to them for raising additional funds= thi5 would include reviewing whether or not any of the School's tangible fixed assets could be disposed of in order to release fvnds. Senior Management Pay Senior mana8ement remuneration is benchmarked against established teacher pay sta￿$ and is subject to meeting performance criteria Set one year in advance. The remuneration levels for the Head. Bursar and Senior Management are also benchmarked against established criteria. ncluding data from IAPS and AGBIS. Prior to any award being made to the Head or Bursar. the Finance Committee will make a recommendation for main Board approval. Plans for Future Period5 The Head, under the supervision of the Board. will continue to deliver the agreed development plan for the School. targeting delivery of a number of projects over the Course of the next three year5. The aim 15 to create a worldre5een chan8es in scheme costs. The Chief Secretary to theTreasury. having in 2018 announced that there would be a review of this cost cap mechanism. in January 2019 announced a pause to the cost cap mechanism followin8 the Court of Appeal's ruling in the Mcaoudlsargeant case and until there is certalnty about the value of pensions to employees from April 2015 onward5. The pause was lifted in July 2020. and following a public consultation in 2021 the Government have accepted three key proposals recommertded by the Government Artuary. and are aimin8 to implement these changes in time for the 2020 valuations. Page 27 BICKLEY PARK SCHOOL LIMITED {LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 17 PE14510N COMMtfMÉNTS ICOPMNUÉDI The 2016 cost control valuations have Sin￿ been completed in January 2022, and the results indicated that ihere would be no changes to benefits or member Contributions required. The results of the cost cap valuation are not used to set employer contribulion rate. and HM Treasury has confimled that any thange5 to the employer contribution rate from the 2020 valuations will take Pla￿ in April 2024. Until the 2020 valuation is completed it is not possible to conclude on any finanual impact or future changes to the corttribution rates of the TPS. Accordingly. no provision for any additional past benefit pension costs is included in these financial statements. The school also contributes to defined contribution schemes on behalf of non teaching staff and some teachin8 staff (who have opted out of the Teathers, Pension Sthernel. Employer contributions payable to these scheme5 were £102.85512022= £67,30118nd at the year end £Nil12022= £Nill was accrued in respect of contributions due to these schemes. 18 SHARE CAPITALAND CONTROL The School is lirnited by guarantee and does not have a share capital. In the event of a windin8 up each member guarantees to contribute an amount of no more than £1. The board of govemors control the school. 19 INVESTMENTS 2023 2022 At the be8inning of year and end of year 725.OtXI 725,000 The above rÈlates to a freehold property owned by the school, which is let at a commercial Tate. The GoveTnor5 estimated its market value at the year end w3$ not materially different from the previous year. 20 RELATEO PARTIES There were no related party transactions during the year12022: None). Page 28