COMPANY NUMBER: 00733991 CHARITY NUMBER: 307915 GOVERNORS, REPORT, STRATEGIC REPORT AND FINANCIAL STATEMENTS FOR BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 AUGUST 2024 AE2YS3KO 2010512025 COMPANIES HOUSE A06
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BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) CONTENTS PAGE Legal and Administrative Information Governors, Report (incorporating the Strategic Report) 2-10 Statement of Governors, Responsibilities li Report of the Independent Auditor5 12-15 Statement of Financial Activities 16 Balance Sheet 17 Cashflow Statement 18 Notes to the Financial Statement5 19-28
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Governors M Hansra Ichalrmanl J Carpenter BA (Deputy Chalrmanl P C Almond 8 Charle5 G Nuijens 8A J Priory D Robertson J s riley FCA H•adm•51er T Quilter Burs•r and Sottet•ry D Godwln Carnpany number 00733991 Charity number 307915 Indpal address 8l¢kley Park School 24 Page Heath Lane Bromley Kent BRI 2DS Re8lstered office The Courtyard Shoreham Road Upper 8eedln8 Steynln8 West Sussex BN44 3TN Audltors TC Group The Courtyard Shoreharn Road Vpper BeedinB Steynln West Sussex BN44 3TN 8ankers National Westmlnster 8ank plc 143 High Street Bromley Kent 8RI IY2 Page I
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) The Governors of 8ickley 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 2024. which are also prepared to meet the requirements for a dirertors, report and accounts for Companies Art purposes. The financial statements comply wlth the Charitles Art 2011, the Companies Art 2006. the Memorandum and Articles of Association, and the Charities Statement of Recommended Practice I'charities SORP'I lapplicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK: FRS 102) issued In October 2019. STRUCTURE, GOVERNANCE AND MANAGEMENT The company is a charltyi governed by its Memorandum and Articles of Association. Membership of the governing body is reviewed re8ularly and 15 refreshed by the appointment of new governors. normally comprising ex-parent5 who are interested in developing the School. together with academics able to offer particular expertise to the School. New 8overnofS are chosen for their experience in relevant fields and where necessary are 8lven 8uidance in their duties and responsibilities. The Governing Body meets as a full Board each term and dele8ates particular tasks to a range of commlttees coverln8 Inter alia, Finance (including Development and Strateglc Plannin81, Buildings, Health and Safety lincludln8 Safeguardln8 and Risk Management). Marketin8 and Education and Currlculum. The operational Health & Safety Committee regularly assesses and documents key and major risks to which the School may be exposed. The Governors are satisfied that StemS and procedures are in place to mana8e exposure to the major risks, whi15t reco8nisin8 that these can only provlde reasonable bLrt not absolute assurance that major rlsks are beln8 adequately managed. Governing Body Bickley Park School Is a charity operated throu8h a tompany limited by guarantee. Legal and adminlstrative Information 15 set out at the front of these financlal statements. Governors. who are also director5 for the purposes of company law, and who served during the period were.. M 5 Hansra Ichairmanl J Carpenter BA (Deputy Chairman) J S Tiley FCA P C Almond G Nuijens .J Priory B Charles D Robertson Page 2
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORn CONTINUED None of the Governors has any beneficial interest in the company. Each Governor make5 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 Head Teacher, Mr Tom Quilter lappointed September 20231. supported by Miss Diane Godwin IBursar in post from January 2024}. and the Senior Leadership Team. Investment powers are governed by the Memorandum and Articles of Association. which place no restrirtion on the nature of Investments that may be made. Durin8 the period. the School recelved income of £82.518 from other tradSng activities Ilncludin8 rent) and £30,392 bank interest from cash depostt, totalling £112,91012023- £74,875). Governor Tralnln8 and Induction All individuals considered as potential Governors are invited to the School for a discussSon with the Head and the Chairman prlor to being proposed at a full Board meetin8. They are also given comprehensive information about the charity and their responsibilities. In addition to attendin8 8overnance meetings, all Governors are expected to spend some time at the School each year to ensure they fully understand the workings of the school. Post-election induction is carried out bv the Bursar and Safe-Guarding trainln8 completed on-line. Each year all Governors are assessed for thelr training requirements. and it 15 the policy of the School to offer training courses either internally or externally as deemed appropriate. A108 of all training given is maintained by the Bursar. Overvlew The Governors recognise their accountability across a number of areas, summarlsed as follows.. Strate8ic Leadership and Vision Directing the affalrs of the School. Setting and regularly reviewin8 the school's vision, mission, and lon8-term strate8y. Assuring themselves that decisions taken ali8n with the school's ethos. value5, and charitable objettives. Educatlonal Standards and Quallty Overseeing the quality of educatlon and the need for hi8h standards of teaching and learnin8. Assuring themselves that appropriate steps are taken to provide for pupils, wellbein& personal development, and safe8uardin8. Page 3
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT) CONTINUED Cornpliance and Legal Responslbllities Operating within the terms of the Company Memorandurn and Articles of Association. Assuring themselve5 of compliance with: Independent School Standards Re8ulatlons IISSR51 Health and safety le8islation Safeguarding requirements Charity Commission requirements. including compliance with Charity law. Financial Oversight Assurin8 themselves that the School is solvent and well run. Overseeing that the use of fund5 are applied in line with the school's objectives and charitable purpose (where applicable}. Exercisin8 prudent financial management to avoid undue or unmanaged risks. Exercising diligence when considering borrowin8 or long-term financial commitments, Overseeln8 the Management of flnancial risks. Governance and Board Effectiveness Meetin8 re8ularly to assure themselves there is effective oversight of School activitie5. Assurin8 themselves that approprSate steps are beln8 taken as regards the safety and well-being of all puplls. Staff and parent5. tO8ether with others associated with the School, and In partlcular taking all nece55ary steps to maintain and enforce effective Safeguarding policies and procedures. Taking professional adwce on all matters where there is material risk. Defining the strategic aims of the School. Defining lin tandem with the Headl objective5 and directions that dellver the strategic alms of the School. Identifying and managing risks to assure themselves that robust systems are in place to monitor all known risks. Being confident that the Governlng Body can dellver a8ainst these responsibilities and demonstrate strong oversight of the School, supported by an effective governance structure. Delivering charitable outcomes for the benefit of the public. Orynlsatlon and Management The governance structure for the School's Governing Body 15 represented below (all meetings are chaired by a 8overnor unless declared below)., Main Board.. Comprisin8 all the Governors of the School,. it meets three time5 a year. Finance and General Purposes Committee: This key sub-committee of the Main Board meets three times a year and more frequently a5 necessary. to review and act upon any and all matters financlal, Pa8e 4
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARANTEE) GOVERNORS, REPORT IINCORPORATING THE STRATEGIC REPORT) CONTINUED Marketlni Committee: This sub<ommittee of the Main Board meets three times year and is chaired by the Head or the School's Head of Marketing. Development and Strate81¢ Plannlng Committee: This sub-committee of the Main Board meets three time5 a year {and more frequently if required for specilic projects via designated workin8 8roupsl. Educatian Committee: This sub-comrnittee of the Main Board meets three times a vear and is chaired by the Head, Bullding5. Healih and Safety Committee.. This sub-committee of the Main Board meets three times a year land more frequently if required) and reviews compliance with key policies such as Safeguarding, Site Safety and Security Compliance, on which it reports to the Board. Rlsk Management Commlttee: This sub.committee of the Buildings, Health and Safety Committee meets three times a year land more frequently if required) ano is chaired by the Bursar. All Governors attend the Main Board and those who are not serving Heads are members of at least one sub-committee. All committees report back formally to the Main Board meetin8s. The Governors determine the general Strate8ic Policy of the School, which is reviewed at least annually (supported by a strate8y working 8rotsp which Is convened more frequently as requlredl. The day-to-day management and operation of the School is delegated to the Head and the Bursar, supported by the SLT. OBJEcfivES AND AcnviTIES Charltable Objects Bickley Park School is a leadin8 Selective independent day school whose vision is to deliver a world-class preparatory school education for all puplls, thereby providln8 a stron8 foundatlon for 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 8enerally. This is achieved by well-mana8ed operation of the School in providing education for boys and glrls UP to the age of 4. and then boys throu8h to the age of 13+, preparin8 them for examinations to senlor independent schools ènd to attain the highest academic levels. Since September 2024 the school has Started to provlde education for 8lrls above the a8e of 4 years old. The targets of the School are achleved within a competitive fee structure that rigorously maintain5 financial viability. The School ended the academic year with 347 pupils. In meeting these objectlves. the School's core aim is to provide a hl8hly regarded education aimed at motivating pupils to achieve. The School delivers a balanced, challenging and high- quallty curriculum that arms all puplls with the skills and attributes to thrive in thelr later Ilve5 as Individuals and global citizens. The educational experience encompasses academic teaching and the development of wider sportin8, artistic and social skills where each pupil can fulfil their potential, gain the right sort of confidence and the ability to communicate effectively and empathetically with others. Page 5
BICKLEY PARK SCHOOL LIMITED {LIMITED BY GUARANTEE) GOVERNORS, REPORT IINCORPORATING THE STRATEGIC REPORT) CONTINUED In addition. the School's policy demands close attention to pupils, pastoral development throughout their stay at the School, with an intended aim of sharing common values including Be Kind, Persevere, Succeed and Be All you Can Be. The Board of Governors, under the direction and support of the Head, encourages all staff to achieve their maximum potential. This is done by investing in the staff'5 future. not only by the mean5 Of training and remuneration, but 0150 by promoting their professional development and engagement in the achievement of excellence in all school activities. Having no outslde endowments, the School meets all bursary fteeds from funds derived from on80in8 activities. The Governors have authorised the Head to allocate up to 6% of fee income for de5ep4ing cases which must be valldated and approved by the Chair of Governors. The bursarlal proportion of fees may be exceeded temporarily subject to Board approval. The School site is regularly used by a variety of local community organisations either for no char8e. or a minimal fee. These include a range of sports clubs. music group5. drama clLtbs and a local state school who use the swimming pool and are provided with swlmm5n8 tuition. Blckley Park facllltles remaln a valuable and much appreclated resource to the local community. In the furtherance of these aims, the School's Governors, as the charivs trustees, have considered the Charity Commission's guidance on public benefit, including the guidance 'Public benefit.. running a charity IP821'. Inspectlon The last Complian¢e and Educatlonal Quality Inspectlon by ISI took place on 21st to 23rd March 2023. Inspectors observed lessons, spoke to pupils and examined samples of pupils, work and curriculum documentation. Oiscussions were held with members of staff and governors Ichair and Safeguardingl. Inspectors observed some extra-curricular activities and visited facilities for the youn8est pupils, together with learnin8 SUPPOrt and educational resource areas. In addition, responses of parents and staff to pre-inspection questions were considered, Bickley Park school's Educational Quality (pupils, academic and other achievementsl and Pupil Personal Development were assessed as Excellent- the highest ratin8. All Regulatory Compliance standards were met. The Governors are pleased with the outcome and are satisfied that actions continue to be taken to further increase and improve provision across the entire school. Page 6
BICKLEY PARK SCHOOL LIMITED (UMITED BY GUARANTEE) GOVERNOR5, REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED Volunteers Bickley Park School Association 18PSAI. a committed parents. assoclation, continue to provide great support and asslstance to the School through fundraisln8 and other activities through voluntary service during the year. Si8nificant contributions of funds have been made to school projects and new pledges of support are readily forthcoming for new projects. The Governor5 would Ilke to take this opportunity to record their appreciation of the BPSA'S contlnuln8 and valuable support of the School. STRATEGIC REPORT Achlevements and Performance A professional and consistent approach by the Head and staff, which aims to inspire confidence and engage positively with the parent body and wider community. has been much appreciated. Parental support remained constant and has been invaluable in en8enderin8 a close partnership model. The School's commitment to deliver 8 high-quality educational provision. whilst ensurln8 pupil and staff wellbelng, remains a prime oblective. The School. buildin8 on the stron8 foundation of recent years, has enjoyed another successful veaf and continues to gain excellent academic results at IO+, Il+ and 13+. Success in exams IS combination of teacher input and pupll commitment. The results evldence the quality of teachin8 and learnin8 consistently across the school. Eight 13+ Independent Oay khool scholarshlps were awarded from a cohort of eighteen boys with the majority of leavers gainlng places at their flrst-choice senlor school. Four Y8 boys achieved academic scholarship5 to selective schools. Twenty-one scholarships were awarded at Il+ and 86% of boys who sat the Kent Grammar tests reached the 8rammar standard. Sport continues to play an important part in School life. with good achievements for School teams on the ru8by. football and cricket field. In addition to the major team sports, boys have been Involved in cross.country, athletics, fencing. swimmin8. golf, cyclin8. tennis, hockey, basketball, badminton. squash, table tennis and taekwondo. The School's lon8Standin8 association with the local cricket club, and its own on-site facilities. provide pupils an environment to explore and extend their sportin& leadership and team workin8 credentials. The School's community engagement encompasse5 a variety of events and quiz nights. Outreach projects supported Sifts being sent to local care homes, donations to food banks and NHS charltles. The Governors are delighted with the positive and enthusiastic support from the entire staff and School community. The on-8oin8 Slte transformation programme, which has a clear mandate f rom the Board, continues to deliver progressive and much needed chan8e to meet the School'5 Strategic Vision. Page 7
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARANTEEI GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED The Strategic Development Plan. which is reviewed and updated regularly. continues to be implemented acr055 a broad range of areas. A clear priority was given to essential infrastructure Improvement5 and educational resource5. The Governors continue to encourage the balanced and approprlate use and benefits of "digital teachin¢ in the classroom. Flnantial Revlew Incoming resources for the year were £5.491,734 12023; £5,575,677), The reduction in income compared to prior years is based on lower overall pupil number5. reflectin8 the decllnin8 national birthrate that the independent settor is experiencing and a period of economic Ltncertainty. The drop in pupil numbers had been mltl8ated to some extent by an uplift In fees above the School, recent avera8e. Judicious financial management during the year allowed the Sch¢)ol to continue to offer a high- qualtty independent education and to invest in Its strate8ic development pro8ramme. The effects of c05t of livin8 pressures and an increasin8ly competitive environment for independent schoo15 is likely to affect the Incomelcost ratlos at most prep schools. The governors will seek to maintain an appropriate balance by regularly reviewin8 all financial and operational lever5 in conjunction with the Head and the Bursar. Resources expended In the year increased by IO% to £5,842,676 12023,. £5,191,703) due malnly to staffing Cost increases, restructurin8 Costs and the removal of the Government energy bill relief (resultin8 in higher rates for gos and electricity). The resulting overall net deficit for the year was £350,942 12023.. £383,974 surplus). The total unrestricted reserrfes balance carrled forward at 31 Av8USt 2024 was £8,252,95612023: £8,603,898). In the event of a significant drop in funding the Governors would conslder the option5 available to them for rai5in8 odditional funds. Thls would include reviewin8 whether or not any of the School's tan8ible fixed assets could be disposed of in order to release funds. Senlor Management Pay Senior management remuneration Is benchmarked a8alnst established teacher pay s¢ales and Is subjett to meetin8 performance criteria set one year in advance. The remuneration levels for the Head and Bursar are also benchmarked against established criteria. including data from IAPS and AGBIS. Prlor to any award belng made to the Head or Bursar, the Finance Committee will make a recommendation for main Board approval. Plans lor Future Perlods 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 years. The aim is to create a world-cla55 environment that educates and nurtures pupils through their formatlve educational years in preparation for entry to senior schools. Page 8
BICKLEY PARK SCHOOL LIMITED IUMITED 8Y GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED Mr Tom Quilter, having taken up the position of Head from I September 2023, has already made an impact on delivering significant chan8e to ali8n the School to current and emer8in8 economic and market conditlons for the sector. The Bursar, Mlss Dlane Godwin Ihavlng jolned the School in January 2024), supports the Head in rnakin8 a contribution to the School's trans*orm3tion. Development projects, and other key Inltlatlves, wlll continue to be supported by the Governors, who remain fully engaged in the assessment and plannin8 Sta8es and are mindful of retaininE a sound financial mana8ement ethos. Particular attention continues to be applied to pupil and staff wellbeln8 and to the provision of a hi8h-quallty educatlon. The Governors, beln8 aware that the future development of Bickley Park School must be of benefit to all pupils, review the Strate8ic Development Plan re8ularly. including the educational and 5UPPOrtin8 facllltles of the charity. providing strong SUPPOrt and directlon to the Head, the Bursar and Senior Leadership Team, Improvements in marketing and engagement, wlth a strong parent contlngent who promote the School. has resulted In $18nificant interest from parents wishin8 to visit and enrol. Nevertheless, Governors have started to see evidence of sector wlde reductions in pupil numbers due the adverse impart of economic and political headwinds which remain a worryin8 prospect. The School intends to continue to enhance the excellent links already galned with other local independent and state schools. In addition, access to the community will be maintained through the provision of means-tested bursaries and the offer of the use of the School's facilities for educational and recreatlonal purpose5. Prlncipal Rlsks and Uneertalfttles The Governor5 are responsible for the management of the risks faced by the School, Risks are Identified, assessed re8ularly and controls established throughout the year. A formal review of the charity's risk management processes is undertaken on an annual basis. The key controls used by the charity Include.. Formal a8endas for all Committee and School èttivity; Detailed terms of reference for all Committees,. Comprehensive Strategic planning, budgeting and financial management: Established organisational Structure and lines of reporting,. Formal written policies.. Clear authorisation and approval leve15, and Vetting procedures as required by law for the protection of the vulnerable. Rlsks are fully documented in the School's Risk Re8lSter. Pase 9
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEEI GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) CONTINUED Through the risk management processes established for the School, the Governors are satlsfied that any major operational risks identlfied have been adequately mitigated where necessary. It is however reco8nised that 5yStem5 can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Governors and the School's management team have implemented strate8ies and controls to monitor and mana8e the risks identified. Rlsk Management The School malntalns a comprehensive operatlonal risk register, whlch identlfles the prlncipal risks, together with the steps to be taken to manage them. Each risk is categorised as Financial. Health and Safety, Cornpliance, Operational or Buildings.. the key strate8ic risk is non-compliance or breach of le8al/statutory responslblllties leading to loss of confidence In the school and risk to investment. The key operational risk is the 1055 of key resources, both staff and financial. Governors formally rewew the risk register each term, wlth key fisks assessed each term at the relevant committee5. The School continued to develop its business policies during 2023-24 through its Finance and General Purposes sub-committee. wlth chan8es endorsed at Board level. The nece55ary business protection, human resources ènd financial pollties continue to be in place land are re8ularly reviewed and updated as required). as are the School's Safeguarding policies. RESERVES POLICY It is the policy of the School that its financial affairs are managed soundly and wlthin the confines of a budget that Is approved by the Governors. The nature of the School's activities determines that reserves fund the property and other net assets. and are held to cover unexpected shortfalls In income. The Governors consider that, in the event of a significant drop in short-term fundin& they will be able to continue the School'5 activities while consideration Is given to ways in which additional funds may be raised andlor costs reduced. AUDITORS A resolution proposin8 that TC Group be reappolnted as audltors of the company wlll be put to the Annual General Meeting, DISCLOSURE OF INFORMATION TO AUOITORS Each of the Governors has confirmed that there Ss no Information relevant to the audit of which they are aware, but of which the auditors are unaware. They have further confirmed that they have taken appropriate steps to identify such Information and to establish that the auditors are aware of it. On behalf of the Board of Governors M S Hansra Ichairmanl Chair of Governors Page 10
BICKLEY PARK SCHOOL LIMITED {LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS, RESPONSIBILITIES The Governors. who are also the dirertors for the purposes of company law, are responsible for preparing the Governors, Report {includin8 the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accountln8 Standards (United Kingdom Generally Accepted Accountin8 Practice), including Financial Reporting Standard 102 'The Financial Reportin8 Standard in the UK and Republic of Ireland,. Company law requlres the 8overnors to prepare financial statements for each flnanclal year whSch 8Sve a true and fair view of the affairs of the charitable company and of the incoming resource5 and pplication of resources, including the income and expenditure, of the charitable company for that year. In preparin8 these financlal statements the governors are required to: select Sultable accountlng policies and apply them conslstentlv; obseThe the methods and prlnciples of the Charlties, SORP; make judgements and estimates that are reasonable and prudent- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will not continue in operation. The Governors 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 accounts comply wlth the Companles Act 2006. They are also responsible for safe8uardin8 the assets of the charitable company and hence for takin8 reasonable step5 for the prevention and detection of fraud and other irre8ularities. Page 11
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARANTEE) REPORTOFTHE INDEPENDEpif AUOITORSTO THE MEMBERS We have audited the financial statements of 8ickley Park School Limited (the 'charitable company'l for the year ended 31 August 2024 which comprise the Statement of Flnancial Artivilies. the 8alance Sheet, the Cashflow Statement and notes to the flnanclal statements. The Ilnanclal reportini framework that has been applied in thelr preparatlon Is appllcable law and UnSted Kingdom Accountlng Stsndards, includlng Flnanclal ReportlnB Standard 102 The Flnanclal Reporting Standard appllcable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountin8 Practice). In our opinion the financial statements.. give a true and fair view of the state of thè charltable company's affalrs as at 31 Au8USt 2024 and of Its Incomlng resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared In accordance wlth United Kingdom Generally Accepted Accountln8 Practlce; and have been prepared In accofdante with the requirements of the Companies Art 2006. Ba$ of oplnlon We conducted our audll In accordance wlth Internatlonal Stsndards on Audilln8 IUKI IISA5 IUKII and appllcable law. Our re5pon51bllltles under those 51andafds are further described in the Auditor's responslbllltles for the audlt of the financial st¥tementS sectlon ol our report. We are Independent of the charltable company in accordance wlth the ethical requirements that are relevant to our audlt of the financial statements In the UK, Includin8 the FRC'S Ethlcal Standard, and the provisions available for small entltles, and we have fulfilled our ethlcal responslbilitles In accordance with these requirements. We belleve that the audit evldence we have obtsined is sufficient and appropriate to provlde a basis for our opinion. Con<lu$lons relatlng to 8oln8 concern In auditing the financial statements, we have concluded that the 8overnor5' Use of the going concern ba515 of accounting In the preparation of the financial Statements is appropriate. 8ased on the work we h•ve performed, we have not Identlfled •ny materlal uncertalntles relatlnq to events or conditions that, Individually or collectlvelyl may cast doubt on the charltable compan15 ability to continue as J golng concern for a perlod of at least twelve month5 from when the financial statements are authorSzed forlssue. Our responsibilities and the responslbllitles of the governors. with respect to 8oln8 concern are descrlbed In the relevant sections of thls report. Oiher Intorrnatlon The other Informatlon comprises the infomiatlon Included in the annual report, In¢ludin8 the governors, report, other than the flnancial statements and our auditor's report thereon. The governors are responsible for the other Information. Our opinion on the financlal statements does not cover the other Information and, except to the extent otherwise explicitly stated in our report, we do not expre55 any form of a55urance conclusion thereon. In connectlon with our audit of the flnanclal statements, our responslbillty Is to read the other InformatSon and, In doing so, conslder whether the other Informatlon Is materlally Inconslstent wlth the financial statements or our knowledge obtained In the audit or otherwise appears to be materially misstated. If we identify such material inconsistencles or apparent material misstatements, we are required to determine whether there 15 a material misstatement in the financial Statements or a material misstatemenl of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of thls other informatlon. we a required to report that fact. We have nothing to report in this regard. Page 12
BICKLEY PARK SCHOOL UMITED (LIMITED 8Y GUARANTEEI REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Oplnlofts on other matters prescrlbed by the CompaTrle$ Act 2006 In our opinion, based on the work undertaken In the course of the audil.. the information given In the governors, report (incorporating the strategic report and the directors, reportl for the financial year for which the financlal ststements are prepared 15 consistent with the financlal statements; and the strateglc report and the dlrectors, report have been prepared in a¢¢ordance wlth appllcable legal requirements. Matters on which we are requlred to report by exceptlon In the li8hi of our knowledge and under5tandin8 of the charitable company and Its envlronment obtalned In the course of the audlt, we have not identified material mlsstatements In the strateglc report and the directors, report. We have nothin8 to report In respect of the following matters In relation to whlch the Companies Act 2006 requires us to report to you If, In our oplnlon: adequate accountin8 records have not been kept, or returns adequate for our audit have not been received from branches not vlslted by us. or the financial statements are not in a8reement wlth the accountlnB records and returns: or ertaln dlsclosures of dlrectors. remuneration speclfled by law are not made,. or we have not received all the informatlon and explanotions we requlre for our audit. R•sponsSbllltles ol iov•mors As explalned more fully In the 8overnors' responsibilities statement, the governors (who are also the directors of the charltable company for the purposes of company lawl are responsible for the preparatlon of the financial statements and for being satlsfied that they give a true and fair view. and for such internal control as the eovernors determine Is nece55ary to enable the preparation of financial statements that are free from materlal mlsstalement, whether due to fraud or effor. In preparlng the financlal statements, the governors are responsible for assesslng the charltable company's ability to continue as a 80in8 concern. di5closln& as applicable, matters related to going concern and using the 8oln8 concern basls of •¢¢ouniin8 unless the 8overnors either Intend to Ilquldate the ¢haritJble cornpony or to cease operatlons, or have no reallstlc alternatlve to do 50. Audltor's re$ponslbllltSes lor the audit ol the financial statements Our objectives are to obtaln reasonable a5surante about whether the financlal statements as a whole ore free from mèterlal misstatement, whether due to fraud or error, and to Issue an audltor's report that includes our opinion. Reasonable a55urance is a high level of assurance, but is not a guarantee that an audit conducted in accordonce with ISA5 IUKI will alway5 detert a material misstatement when It exlsts. Misstatements can arise from fraud or error and are considered material if, individually or In the a88regate, they could reasonably be expected to influence the economic deci5i0ns of users taken on the basis of these financial statements. IrregularltSes, includlng fraud. are Instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting Irregularities, including fraud, is detailed below. Page 13
BICKLEY PARK SCHOOL LIMITED {IIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Extent to whith ¢he audit was consideied capable ol detectln8 Irre8ularltles, Includlng fiaud The objectives of our audit, in respect to fraud, are.. to identify and assess the risks of material misstatement of the financial statements due to fraud. to obtaln sufflclent approprlate audlt evldence re8ardin8 the a55e55ed risks of materlal mlsstatement due to fraud. Ihrou8h de518nin8 and implementin8 appioprSate responses; and to respond appropriately to fraud or Suspected fraud identified during the audit. However, the prlmary responslblllty for the prevention and detection of fraud rests with both thoR charged with governan of the entity and its management. Our approach was as follows.. We identified areo5 of laws and regulations that could reasonably be expected to have a material effect on the flnanclal statements from our 8eneral sector experience, and throu8h dlscu551on wlth the 8o¥ernofS and othei management las required by auditing standard51, and d15CUS5ed with the governors and other management the pollcle5 and procedures regardlng compliance wlth laws and reBulations (see below). We identified the followin8 areas as th05e most likely to have such an effect.. health and safety,. General Data Protertion Regulation IGDPRI,. fraud,. bribery ènd corruptlon, school Inspections, keeplng chlldren safe in educatlon (statutory guldencel, DBS checks, and employment law. Auditin8 Standards limit the requSred audSt procedures to Identlfy non.compliance wlth these laws and regulatlons to enqulry of the governors and other mJna8ement and InspectSon of fe8ulatory and le8al correspondence. If any. The Identifled artual or suspected non-compllance wa5 not sufficlently slgnrficant to our audit to result In our response being identified a5 a key audit matter. We consldered the le8al and regulatory frameworks directly applicable to the financial statements reportlng framework IFRS 102, the Companies Art 2006 and the Ch•rltles Art 20111 and the reltrvanl tax compllan¢e regulations in the UK. We considered the nature of the charltable compan(s operatlons, the control envlronment and financlal peiformance. We communicated Identlffied laws and re8ulatSons throughout our team and remalned alert to any indications of non-compliance throughout the audlt. We consideted the procedures and controls that the charitsble company has establlshed to address rlsk5 Identlfled, or that otherwlse prevent, deter and detert fraud,. and how senior mana8ement monitors those pro8rammès and controls. Based on this understandlng we deslgned our audit procedures to Identify non-compllance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each Identified fraud rlsk. These procedures included: testing manual jouinals.. reviewlng the financial statement disclosures and testing to supporting documentation,. performing analytical procedures; and enqulrln8 of management, and were desi8rted to provide reasonable assurance that the financlal ststements were free from fraud or error. Owin8 to the inherent limitations of an audlt, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and performed our audit in accordance with audltin8 Standards. For example. the fvrther removed non- compliance with laws and regulations lirregularitiesl is from the events and tran5aclions reflected in the financial statements. the less likely the inherently limited procedure5 required by auditing Standards would identify it. The risk is a150 greater regarding iriegularitie5 occurring due to fraud rather than error. as fraud Involves Intentional concealment, forgery, collu51on, omisslon or mlsrepresentation. We 3re not responsible for preventlnB non-compliance and cannot be expected to detect non.cornpllance wlth all laws and re8ulatlon5. Page 14
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEEI REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Use of our report This report Is made 501ely to the charitable company'5 members, as a body, in accordance wlth 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 auditors, report and for the 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, or for the oplnlons we have formed. Mark Cummlns FCCA (Senlor Statu for and on behalf of TC Group Statutory Audltor5 Offi¢e: Steynlng. West Sussex ory AudStor) Date; ozs Page 15
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDEO 31 AUGUST 2024 Notes Total 2024 Total 2023 INCOME FROM: Other trading activities Investments Charitable actlvlties Total income 82.518 30,392 5,378,824 5.491.734 65.899 8,976 5,500,802 5,575.677 EXPENDITURE ON: Raisin8 funds Charltable activities Total expendlture 3,060 5,839.616 5.842.676 16,821 5,174,882 5,191.703 Net Incomellexpendlture) 13SO.9421 383,974 Fund balances brought fonward 8,603.898 8,219,924 Fund balances Carrled forward 8,252.956 8,603.898 All galns and 1055es for the year are re¢o8nlsed above. All of the school's activitles are classed as continuln8. 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 unrestricted. Page 16
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET ASAT 31 AUGUST 2024 Company Number 00733991 Notes 2024 2023 FIXED ASSETS Tangible fixed assets Investments li 19 7,714,219 725,000 8,439,219 7,248,266 725,000 7,973.266 CURRENT ASSErs Debtors Cash at bank and In hand 12 1,689,040 1,297,452 2,986.492 1,551.621 1,738,389 3.290,010 CURRENT LIABILITIES Creditor5 due withln one year 13 12,902,696) (2,659,378) NET CURRENT ASSErs 83,796 630,632 TOTAL ASSETS LESS CURRENT LIABILITIES 8,523,015 8,603,898 LONG TERM LIABILITIES Creditors due after one year 14 {270.059) NET ASSErs 8,252,956 8.603,898 REPRESENTED BY: Unrestricted general funds 8,252,956 8,603,898 8.252,956 8.603.898 The account5 were approved by the board and signed on their behalf bv.. M S Hansra (Chairman) Date.. r/¢/s5- Page 17
BICKLEY PARK SCHOOL LIMITED (LIMITED 8Y GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 Notes 2024 2023 Cash flows from operatlng artlvltles: Net 5ncome for the year Adjuslments for: Depreciation charges Dividends, interest and rents from investments L055 from sale of tan8lble fixed assets Ilncreasel/decrease in debtor5 Increase/ldecrea5el in creditors Net cash provlded by/(used In) operating artivities 1350,9421 383.974 li 58.905 130,3921 11,8371 1137,4191 513,377 21,794 18,9761 7,795 11.435.223) 1.196,936 51,692 166,300 Cash flows from Investln8 artlvltles: Dividends. interest and rents from investments Purchase of tangible fixed a55et5 Proceeds from Sale of fixed assets Net cash provlded byllused In) Investln8 actlvltles 30,392 152S,4091 2,388 8,976 173.8371 li 1492,629) {64,8611 Cash flows from Ilnanclng artlvltles: Repayments of borrowing Net cash provlded by/lused In) financlng artlvltles {192,S671 1192.5671 Change In cash and cash equjvalents In the year 1440,9371 {91, 1281 Cash and cash equivalents at the beglnnlng of the year 1,738,389 1.829.517 Cash and cash equlvalenls at the end of the year 1,297,452 1,738.389 Analysls of cash and cash equlvalents Cash at bank and in hand Notice deposits (less than 30 days) Notice deposits (more than 30 days) Total cash and cash equlvalents 8,472 1,079,959 209,021 1.297,452 8,472 1.678,305 51,612 1,738.389 Page 18
BICKLEY PARK SCHOOL LIMITED {LIMITEO BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 I STATUTORY INFORMATION The charity is a charitable company. limited by guarantee, registered in England and Wales. The registered office, company number and charity number are detailed in the Legal and Administrative Information. 2 ACCOUNTING POLICIES 2.1 Basls of preparatlon The financial statements have been prepared under the Companles Act 21x16 and in accordance with the Charltles. Statement of Recommended Practice ISORP {FRS1021) and Financial Reporting Standard 102. The charitable company meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially reco8nised at cost or transaction value unless otherwise stated in the relevant accountin8 policy. The financial statements are prepared In sterllng. whlch Is the functlonal currency of the charlty. Monetary amounts In these financial statements are rounded to the nearest £. After reviewing the charity'5 forecasts and projections, the 8overnors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the 80ing concern basis Sn preparin8 Its flnancial statements. 2.2 Income Fees receivable and char8es for services, less any allowances, scholarships and bursaries 8ranted by the school a8ain5t those fees are accounted for in the period In which the service Is provided. Where fees are received for a future service period they are included in deferred income. including those fees received under an advance fee payment scheme. Investment income Is accounted for on an accruals basi5. Oonations. legacies, grants and other voluntary income are accounted for as and when entitlement arises, the amount can be reliably.measured and the economic benefit is considered probable. Where a donor or an appeal has imposed restrictions the income is credited to a restrirted fund. 2.3 Expendliure Expenditure is accounted for on an accruals basis with irrecoverable VAT included with the item to which It relates. Governance costs include those costs associated with meeting the constitutional and statutory requirement5 of the charity and include the audit fees and costs linked to the strateglc management of the charity. All costs are allocated between expenditure categories and departments on a basis designed to refiect the use of the resource. Costs relating to a particular activity are allocated directly. Page 19
BICKLEY PARK SCHOOL LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 2.4 Tanglble fixed assets and depreciation Tangible fixed assets other than freehold land are stated at C05t le55 depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over Its expected useful life as follow5: Freehold land is not depreciated Freehold buildin85 Freehold Imporvements Fixtures, fittings and equlpment Motor vehicles Portable building5 over 7 years otherwise not depreclated 5% reducing balance 15% & 30% reducing balance 20% reducing balance Depreciation is provlded on freehold properties based on the difference between book value and estimated resldual value charged over the useful Ilfe of the properties. The Governors are of the opinlon that, having regard to estimated residual values, based on prices prevailin8 at the dates of acquisition and the estimated useful lives, any depreciation involved, whether annual or cumulative would not be material. 2.5 Leaslng and hlre purchase commltments Rentals paid under operating leases are charsed agalnst Income on a straight line basis over the period of the lease. 2.6 Penslons Most teaching staff are members of the Teachers, Pension Scheme {TPSI, a defined beneflt scheme adrninistered by the Teachers, Pension Agency. Contributions to the scheme are char8ed to the Statement of Financial Actlvities as they fall due. The TPS is an unfunded scheme. Contributions on a 'pay as you go, basis are credited to the exchequer under arrangements governed by the Superannuation Act 1972. Actuarial valuations are carried out on a notional set of investments. Under the definitions set out in FRS 102 the TPS is a multi-employer penslon scheme. The charity is unable to identify Its share of the underlyin8 {notlonall assets and liabilities of the scheme. Accordingly, under FRS 102 the scheme 15 accounted for as if it were a defined contribution scheme. The charity also contributes to personal pension schemes for its non-teaching Staff and for teachers who have opted out ofthe Teachers, Pension Scheme. Page 20
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 2.7 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and In hand includes cash and short term highly liquid investments. The governors seek to use short and medium term deposlts where possible to maximise the return on monies held at the bank and to manage cash flow. 2.9 Credltors and provlslons Creditor5 and provisions are recognised where the charity has a present obligation resultin8 from a past event that w511 probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliablv. 2.10 Fund accounting Unrestricted funds comprise those funds which can be used in accordance with the charitable objects at the discretion of the 8overnors. 3 TURNOVER The turnover of the charity 15 wholly attributable to the oblects of the charity as stated in the Governors, Report and is earned entirely within the UK, 4 NET INCOMEIEXPENDITURE This Is stated after charging: 2024 2023 Operatlng lease payments Depreciation Auditors, remuneration - audit services Auditors, remuneration - non-audit services 50,084 58,905 15,000 11,547 52,155 21,794 13,020 10,122 Pa8e 21
BICKLEY PARK SCHOOL LIMITED (LIMITED BYGUARANTEEI NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 5 TAXATION The charitable company Is registered a5 a charity and all of its income fa115 wlthln the exemption5 under Part 11 of the Corporation Tax Act 2010. 6 INCOME FROM OTHER TRADING AcfiviTIES TOTAL 2024 TOTAL 2023 Rental income 82,518 65,899 7 INCOME FROM INVESTMENTS TOTAL 2024 TOTAL 2023 8ank interest 30,392 8,976 INCOME FROM CHARITABLE AcnviTIES TOTAL 2024 TOTAL 2023 Gross school fees less bursaries and allowances Net school fees Add.. Re8lstratlon fees Extras Income 8efore/after school care Donations 5,514,594 1272,379 S,242,215 5,572,550 1265,081 5,307,469 8,600 219 107,924 19,866 5,378.824 7.310 31,075 86,139 68,809 5,500,802 Page 22
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGLIST 2024 9 ANALYSIS OF EXPENDITURE Staff C0515 Depre¢lation Other C0515 Total 2024 Total 20Z3 Cost of ralslng funds: Other tradlng actlvlties Financing cost5 Total cost of r•lsln8 funds 3,662 13,159 16,821 3.060 3,060 3,060 3,060 Charltable expendlture Education Teachln8 Welfare Premises Support and governance Total charltable expendlture 3,369.941 108,873 108.698 411,107 3,998,619 39,237 336,408 454.464 680,963 310,257 1,782,092 3,745,586 563.337 809,329 721,364 5,839,616 3,295,782 513,972 623,432 741,696 5,174,882 19,668 58,905 Total expendltur• 3,998,619 S8,905 1,785.IS2 5,842,676 5,191,703 An•lysls of support •nd IOV•rn•n ¢ost$'. 2024 2023 Governance costs: Auditors remuneration for audlt servlces Total governance costs 15AIOO 15,000 13,020 13,020 Support costs: AudStors' remuneratlon for non audlt servlces Legal and professional fees relatin8 to SUPPOrt Support staff wages, national Insurarsce and penslon Other support costs 11,547 69,883 411,107 213,817 10,122 66,700 503,643 148.211 721,364 741,696 Page 23
BICKLEY PARK SCHOOL LIMITED ILIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 AUGUST 2024 10 STAFF COSTS The average monthly number of employees durin8the year was: 2024 Number 2023 Number Teaching Welfare and premises Administration 61 12 61 14 84 82 The a88re8ate payroll costs for the year were as follows.. 2024 2023 Wages and salaries Social security costs Pension costs 3,202,488 311.941 484,189 3,998,619 2.996,893 292,419 408,016 3,697,328 None of the governors received any remuneration or other benefits from the school or any connected body. No Governors12023- nil} had expenses reimbursed in the amounts detailed in the expenditure note above. Staff earnlng In excess of £60,000 per annum In the following bands are,. 2024 Number 2023 Number £70.000 . £79,999 £80,000 £89.999 £90.000- £99,999 £IOO.OCN). £109.999 Of the employees whose emoluments exceed £60,000, 4 12023: 41 have retirement benefits accrulng under defined benefits schemes. Contribution5 in the year for those employees amounted to £89,104 12023- £47,415). The key managèment personnel of the school comprise the senior leadershlp team. 2024 1023 A88regate employee benefits of key management personnel lincluding pension contributlonsl 549,456 422,542 The above costs for 2024 include settlement amounts to former employees. the terms of which are confidential. Page 24
BICKLEY PARK SCHOOL LIMITED IUMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 11 TANGIBLE FIXED ASSETS Freehold Property Flxtures & Flttln8S Motor Vehlcle5 Total Cost At I September 2023 7,260,879 690,510 67,098 8,018,487 Additions 446,754 78,655 525,409 Dlsposals 110,299) {10,299) At 31 August 2024 7.707.633 769,165 56,799 8,533,597 Depreclatlon At I September 2023 155,987 598,682 15,552 770,221 Charge for year 19,668 34,410 4,827 58,905 Disposals 19,7481 19,748) At 31 Au8USt 2024 175.655 633,092 10,631 819,378 Net Book Value At 31 August 2024 7,531,978 136,073 46.168 7,714,219 At 31 August 2023 7,104.892 91,828 51.546 7,248.266 Page 25
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12 DEBTORS 2024 2023 Fee debtors Prepayments and accrued income 1,314,395 374,645 1.689,040 1,419.229 132.392 1,551,621 13 CREDITORS: due wlthln one year 2024 2023 Trade creditors Other creditors Accruals Fees In Advance Advanced fee scheme (see note 151 Deposits Other taxes and social securlty 205,726 143,288 163,533 1,552,101 144,999 556,238 136,811 2.902,696 189,505 71,858 41,456 1,663.540 616,172 76,847 2.659,378 Fees in advance represent fees received for the Autumn term 2024. 14 CREDITORS: due after one year 2024 2023 Advanced fee scheme (see note 15) 270,059 270,059 15 ADVANCED FEE SCHEME 2024 2023 Amounts due within one year Amounts due over one year 144,999 270,059 415,058 Parent5 may enter into a contract to pay to the school tuition fee5 in advance. The money may be returned subject to specific conditions upon the reciept of one terms notlce. Assuming pupils will remain in the school, advances fees will be applied as above. The balance above represents the accrued liability under contracts. The entire balance above was received during the year ended 31 August 2024. Pa8e 26
BICKLEY PARK SCHOOL LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16 COMMITMENTS UNDER OPERATING LEASES AND CAPITAL COMMITMENTS At 31 Au8USt 2024 the company had total commitments under non-cancellable operatin8 leases payable as follows: Land and Buildings 2024 2023 Other 2024 2023 Within one year Between one and five years 83,000 54.700 249,000 332,000 332,000 386,700 39.844 30.908 70,752 53.S96 70,7S3 124,349 The school lease for the playing field ends In 2028. 17 PENSION COMMITMENTS The School participates In the Teachers. Pension Scheme I'the TPS'I for Most of its teachin8 Staff. The pension charge for the year Includes contributlons payable to the TPS of £417,44212023.' £305.1611 and at the year end £50,61912023: £Nill was accrued in respect of contributions to this scheme. The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers. Pen51ons Regulations 2010 las amended) and The Teachers. Pension Scheme Re8ulations 2014 la5 amended). Members contrlbute on a "pay as you 80" ba515 Wlth contributlon5 from members and the employer bein8 credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government ActUary'5 Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published In October 2023. Following the Mtcloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the perlod l April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the 8reater benefits, and in preparing the 2020 valuation has valued the 'greater value. benefits for groups of relevant members. The employer contribution rate for the TPS is 28.6%. and employers are also required to pay a scheme administration levy of 0.08% givin8 a total employer contribution rate of 28.68%. The school also contributes to defined contribution schemes on behalf of non teachin8 Staff and some teaching staff (who have opted out of the Teachers, Pension Scheme). Employer contributions payable to these Schemes were £68,84712023.' £102,855) and at the year end £9,7S6 {2023.' £8,283) was accrued in respect of contributions due to these schemes. Page 27
BICKLEY PARK SCHOOL LIMITED (UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 18 SHARE CAPITAL AND coNfROL The school is limited by guarantee and does not have a share capital. In the event of a winding up each member 8uarantee5 to contribute an amount of no more than £1. The board of 8overnors control the school. 19 INVESTMENTS 2024 2023 At the beglnnlng of year and end of year 725,000 725,(M)O The above relates to a freehold property owned by the school, which is let at a commercial rate. The Governors estimated its market value at the year end was not materially different from the previous year. 20 RELATED PARTIES There were no related party transactions during the year12023'. None). Page 28