Reglstered number: 01047287 Charity number: 309094 ST PIRAN'S SCHOOL LIMITED (A Company Llmlted by Guarantee) GOVERNORS. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
ST PIRAN'S SCHOOL LIMITED (A Company Limftad by Guarantee) CONTENTS Page Reference and admln18tratlvo detalls Gov•rnors' annual report Govemor8' ro8pon8ibilitles statement 11 Independent auditors. report 12 Statement of flnanclal activltles 16 Balance shoet 17 Cash flow $tat•ment 18 Note8 lo the financlal statements 19
ST PIRAN'S SCHOOL LIMITED (A Company Limltad by Guarantee} REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2024 Governors Mrs K J S Taylor {Chalrl Mrs A Bizior (Appoinled 29 November 2023) Mrs R Doctor MrsCFry Mr C D Kendall Reverend S M Lynch Mrs E Marriner Mrs H N8ss-Glfford Mrs S Rees-Evans {Appolnted 15 February 2025) Mr L Sldhu (Appointed 29 November 2023) Mr O Subramanlan Mrs H Subramanlan Mr P J Thomas Mrs L Morgan (Reslgned 31 August 2024) Key Managoment Personnel Mr S Sales (Headl Mr J Harle (Bursar) Mrs C Earp (Deputy Head - Pastoral> Mr S Robinson (D8PUty H8ad - Academlc) Mrs J Richmond (Asslstanl Head- Head of EYFS) Mrs B Bailey (Assistant Head - Head of Innovatlon and Partnerships Mrs K Saunders (Assistant Head and Joint SENCO) Mrs C Walsh (Reslgned 15 November 2023) Company Se¢rotary Mrs P Carragher (R&sign8d 31 August 2024> Mr J Harle (Appointed 1 September 2024) Company Name St Piran's School Llmlted Prlnclpal and Registered Offlce St Piran's School Limited, Gringer Hill, Maidenhead, Berkshire, SL6 7LZ Company Reglstered Number 01047287 Charity Reglstered Number 309094 Independent Auditor MHA, Buildlng 4, Foundatlon Park, Roxborough Way, Maidenhead, SL6 3UD Bankors Barclays Bank Plc, Wytham Court, 11 West Way, Oxford, OX2 OJB Sollcltors Veale Wasbrough Vizards LLP. Narrow Quay House, Narrow Quay, Bristol, BS14QA Page 1
ST PIRAN'S SCHOOL LIMITED (A Company Llmited by Guarantee) GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Governors are p18as8d to present their annual Governors, Report together with the financial statements of the charity forthe year ended 31 August 2024 which are prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financlal statements comply wlth the Charlties Act 2011, the Companies Act 2006. Ihe Company's Memorandum and Artlcles of Association, and the Accountlng and Reporting by Charitles: Statement of Recommended Practice appllcable to Charities (SORP 2019) preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. The charily operate5 an Independent school for pupils aged 2 to 11 years, serving the Maidenhead area. It has a pupil capacity of 524. There were 455 puplls on roll at Ihe end of the yaar under r8V18W. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a company limited by guarantee and an exempt charlty. The charitable Gompany's Memorandum and Artlcles of Association are the primary governing documents of the charity. The Governors of the charity ar8 also the dlrectors ofthe charitable company for the purposes ofcornpany law. The charitable company Is known as St Piran's School Limited. Governor8 of the Charity The Governors who have served during the year endlng 31 August 2024 w8r8 as follows: Mrs K J S Taylor (Chair) Mrs A Bizior (Appolnted 29 November 2023) Mrs R Doctor MrsCFry Mr C D Kendall Reverend. S M Lynch Mrs E Marriner Mrs L J Morgan Mrs H Ness-Gifford Mr O A Subramanian Mrs H Subramanian Mr L Sldhu (Appointed 29 November 2023) Mr P J Thomas After the perlod under review, Mrs S Rees-Evans was appointed a Govemor on 15 February 2025. Members. Llabllity Each member ofthe charitable company undertakes to Gontribute to the assets of the charltabl8 company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as May be required, not exceeding £1, for the debts and liabilities contracted before they ceased to be a member. Governors. Indemnltles Govemors benefit from indemnity insuranc8 to cover their liability which by virtue of any rule of law would otherwise attach to them in respect of any negligence. default or breach of trust or breach of duty of which they may b8 guilty in relatlon to Ihe charitable Trust. This is covered within the overall Insurance Costs for the School. Page 2
ST PIRAN'S SCHOOL LIMITED (A Company Limlted by Guarantee) GOVERNORS, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Method of Recruitment and Appointment or Electlon of Governors New govemors ar8 8lècted at a meeting of the Governing Body with not less than three quarters of the Goveming Body present and by a vot8 of at least three quarters of the members present. A new governor rnust be proposed for electlon by a memb8r of th8 Governing Body to all members 10 days prior to the meeting at which their election is proposed. Pollcle8 and Procedures Adopted for th8 Inductlon and Tralning of Governors Prior to ¢onfirmatlon of the appointment of a new governor, checks are undertaken to conflnn formal Identlfication, the rSght to work In the UK and an Enhanced DBS application is made. On confirmation, a new governor Is provided with an Snductlon pack and briefing by the Head and the Clerk to the Govemors. The Chair of Governors formally welcomes new governors at their first meeting. Governors receive internal brlefing sessions on the School and areas relevant to their sub-commlltee membership (if any) and attend School ev8nts and slaff soclallllaison actlvltles. There is a requir8m&nt for governors to attend one external tralnlng sesslon per year. Organi8ational Structure The Governors are responsible for th8 Strategic direction and maintenance of standards within the School and oversee legal and regulatory compliance. R8sponsibility for managlng the School Iles wlth the Head, asslstad by the Senlor Leadership Team. Arrangements for Setting Pay and Remuneratlon of Key Management Personnel Pay and remuneratlon for the Head is set by th8 Govemors, wlth reference to benchmarked data. The pay and remuneration for other key management personnel. Includlng the Senior Leadershlp Team, responsible for the day-to4ay running of the School, are set by the Governors on the recommendalions of the Head. Aims The Charity's objects as set out in its Memorandum and Artlcles of Assoclatlon, are to promote and provlde for the advancement of education, including the provlsion of day schooling for children of both genders. Within these charitable objects, the Charity is also required to maintain the premises known as St Piran's School and other premises Ihat are owned by the School (If any). Amongst other responsibilities, the School should award prizes and scholarshlps to pupils, or prosp8Ctive pupils, for proficiency in acadèmic studies and games and to develop through a wider sportlng, artlstic and social programme of study, the promotion of education generally, including provision for the education and training of prospectlve entrants to any of the public 5¢hools and colleges, and apply to that purpose all monles and property coming to it. This is int8nd8d to provide an environment where each child can dev81op Independence, confidence. self-motivation and a genuine love of learning. where each pupil can develop and fulfll thelr potential. Objectlves To provlde an excellent education for chlldren aged 2 to 11 years In a co-educational, mixed ability settlng. To equip the Children with 21 st Century Learning Habits through teaching that exceeds the Early Years and National Curriculum. To safeguard and promote th8 walfare of every child whilst in the care of the School. To assess and addr8SS th8 educational needs and potential of every individual chlld in ord8r to18ad fulfilling Ilves. To provide a foundation for children's spiritual development and for an understanding of right and wrong. within a clear Christian ethos. To develop children's enjoyment and understanding of music and the arts and to provide high qualitytuition, experience and performance opportunities in those areas. To provide a wide range of opportunities for children to develop their physical fitness and sporting ability and to grow in social and leadership skills. To prepare children for the successful transf8r to tha right cholce of senlor school. Paga 3
ST PIRAN'S SCHOOL LIMITED (A Company Llmlted by Guarantee) GOVERNORS, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Objectives {continued) In setting oblectives and planning activities, th8 Govèrnors have glven careful consldératlon to th8 Charity Commission's general guidance on public benefit and, in particular, to its supplementsry public benefit guidance on advancing education and on fee-charging, Publlc Benefit Statement and Access Pollcy The Charity prlnclpally provides education in Maldenhead to boys and glrls from th8 ages of 2 yoars to 11 years on Its site in Gringer Hlll. The pupils benefit from an outstanding all-round educalion in a school Ihat aGhieves excellent standards wSthln a strong school community. Reinforcing the School's Christian values, pupils are encouraged to have an appreclatlon and awareness of people around them who are less fortunate than themselves. The School's values of 'Respect, Inclusion and Kindness. continue to be promoted beyond St Piran's gates as the School striv8S to have a posltive and beneficlal impact with Its community. In the autumn, Ihe Harvesl donatlons were shared wllh Clara Court Residential Home. One Can Trust, and Foodshare. This was followed by vislts to Clara Court and to the Hlnd's Head in Bray to deliver carol 5eNiGes by the School's Chapel Choir. Reclprocal invites w&re shared to come and watch the School's productlon of Ollver Jr. The School successfully fundralsed for local and national causes wllh Children in Need, Red Nose Day, Place 2 Be, Save the Children, The Link Foundation, Number 22 Counselling, Daisy's Dream. and CHP (Children's Hospital Pyjamas). The School further gr8W Its partnerships with organisations and activitie5 including the South Africa school exchange (partnerships wlth Cordwalles and St John's Schools based in South Africa), the Microsoft Showcase Day, and strengthening Its relallonship wlth Number 22 counselling. a local community counselllng service for young people and adults, which is also a regist8r8d charlty. The School faclllties are used ext8nsiv81y by the ICal community In thè evenlngs, weekends and during school holidays for a wlde variety of activities. Uptake of after-school and weekend swlmmlng lessons for the local community has contlnued lo grow. The School welcomes puplls from all backgrounds. Prospective pupils are Interviewed and ess8ss8d to ensure that thè School can educate and develop each child to the best of their potential and in Ilne wilh the general standards achieved by their peers. Entrance irsteIewS and assessments, which are age appropriate, are undertaken to satlsfy staff and parents that prospective puplls will be ab18 to cope with the pace of learning and, therefore, benefit from th8 education provlded by the School. An individual's economic status, gender, ethnicity, race, religion or dlsablllty does not form part of the assessment process, Th8 School Is an equal opportunity organlsatlon and is Committed to a working environment thal is free from any form of discriminatlon on the grounds of colour, race, ethnicity. religion, gender, sexual orientalion or disability. The School will, wherever possible, make any reasonable adjustments to me8t the needs of staff or pupils who were or become disabled. The staff regularly discuss and contribute lo the School Improvement Plan and Strategy to ensure that objectives are being met. Th8 Governors have Complied with their dutyto have due regard to the guidance on public benefrt published by the Charity Commission in exerclslng thelr powers or dulles. The School sets out to provlde a breadth of education to enable pupils to develop skllls and talents whlch can ba nurtured and supported in their time at the School. The School is committed to safeguarding and promoting the welfare of puplls and èxpects all staff and volunteers to share this commitment. A¢¢ess to the education offered is not restricted to those who can afford the fees. The bursary policy, together with links with local primary schools, contrlbutes to a widening of a¢¢ess to the education offered and the faGilitie5 enjoyed. Page 4
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) GOVERNORS, ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 AUGUST 2024 Public Benefit Statement and Access Pollcy The School prides itself in b8ing part of a wid&r community, including staff and parents. It also offers a resource to support a range of educational activities for Ihe benefit of local teachers and children attending mainlalned schools. The Govèrnors are ¢ommilted to developing a programm8 of cooperation and joint working with local malntain8d junior and secondary schools and. In addition, during school time it offers its swimmlng facilities to o local primary schools free of charge and a third school during th8 school holidays. One member of the SLT is a governor at a local school whilsl another was appointed to another school following th8 period under review. The Govemors consld8r bursary awards as important in helping to ensure chlldren from familles who would not otherwise be able to afford the fees to access the education offered. The bursary awards are available to all who meet the School's general entry requirements and are made solely based on parental means or to rellev8 hardship where a pupil's education and prospects would otherwise be at rlsk, for example, in the case of redundancy. Factors considered include family incoma, assets. inv8Stments, savlngs and family ¢ircumstan¢es, Including dependant relatives and the number of siblings. However, the SGhool does not have an endowment and, when making such award5, rernains mindful of achieving balanc8 between fee-paylng parents, many of whom make considerable personal sacrifices lo fund their child's education, and those benefrting from the bursary awards. Bursary applications are assessed Independently by a third-party company. STRATEGIC REPORT Achlevements and Performance The School wa5 last Inspected by ISI In November 2022 and was judged to be 'Excellent' in all areas, a very pleasing result r8flecting and recognising the efforts of the whole staffing body and Governlng Body. This judgement continues to form a basellne for assessing progress and achlav8m8nt within the School. Durlng th8 year und8r r8V18W th8 Senior Leadership Team Included a new Bursar (who was appoSnted in May 2024), an Asslstant Head and Head of Early Years, two Deputy Heads who split responslbllities betW8en Academic and Pastoral, and an Asslstanl Head who was responsible for partnerships and Innovatlon and an Asslstant Head who oversees Inclusion. The Head of Finance was responsible for financial matters. The School contlnued to grow over the course of the year. Its financial posltlon contlnued to strengthen, wlth strong pupll numbers and reputational distinction achieved by academic and sporting ex¢ell8nc8, in addition to its most rècent I Sl Inspectlon. Th8 School continued to achleve all its key objectlves In the dellvery of an excellent educatlonal environment for local families seeklng private edu¢atlon for chlldren aged from 2 to 11 years old, In a Co-educational, mixed ability Setting. Numbers on roll steadily increased from 438 in September 2023 to 455 at Ihe end of the year under revi8W. Strong pupil number5 and carefvl cost Control were the major factors in the aGhievement of a healthy operating surplus of £410K. Page 5
ST PIRAN'S SCHOOL LIMITED {A Company Llmlted by Guarantee) GOVERNORS, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Achievoments and Performance (contlnued) During the year under revlew slgnlficant progress was made against the agreed School Improvement plan targets: arget Ensure St Piran's provides a sustainable ture for all chievement he School continued to develop It's outdoor learning spaces, which ncluded a new gardening area, Chicken Coup, Den Building and the econd outdoor classroom. Pupils monitored food waste wlthin the school and energy leaders onitored and ensured that Ilghling and digital power was used as nd when requlred, Develop leaders at all16v8ls, so they have the skllls and qualltles to nurture a chool Culture in which all individuals can hrive. oaching continued for senior and middlè188ders delivered by 6xperlenc8d executive coaches. Heads of Y8ar met weekly wlth the Deputy Head Pastoral and Heads of Department with the Deputy Head Academic to focus on the pastoral and academ1¢ development of our puplls. ear 6 pupils took on al least leadershlp responsibilities across subjects, Clans (our Houses) and as leaders of our four counclls cross the Pupil Pafliament. The Safety Councll Installed a new solar panelled speed sign on the drive and Ihe Leaming Council brought Virtual Headsets Into the classrooms with investment from he St Piran's Society. Ulilise Evidence based research to develop a truly 21st Century Curriculum he School formed a new partnershlp and trainlng schedule for staff nd Ihen puplls with the Harmony Project. This provlded a coherent structure for our ¢urrlculum for educatlon from Nursery through to ear 6. INSETS enabled staff to plan and prepare for change and he Importance of leaming from and not just about the Harmony Project's slx principles of nature. Mlcrosoft Experts within the school contlnued to ploneer our work as a Microsoft Showcase School whilst developing new Al partnerships ith Magic School and School Al. Embed a conslstent approach to positive behavlour growth wlthln our pupils and staff Our Well Being Council led this work with a pupil revlew of our Behaviour Code and assemblies to support positive mental health. his took the theme of'moving for our Mental Health., A new reflection step was included within the school's Behaviour Policy and e introduced 'Conne¢ting Classrooms, where older pupils spent early morning time wlth younger pupils helping them wlth core learning alongslde some pastoral advlce and support. Pupils ccessed the woodland areas during playtimes enabling discovery nd exploration alongside tradltional ball games on wlther the astro or school fields. Page 6
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) GOVERNORS, ANNUAL REPORT Icontinu8d) FOR THE YEAR ENDED 31 AUGUST 2024 Achiovements and Performance (continued) argot Champlon Diversity & Inclusion to meet he n88ds of all chlevement he'Tailored Learning Centre, of TLC continued to provide bespoke support to puplls with neuro-diverslty alongside those with EAL and Gifted and Talented. Naw tracking was put in place, whlch included he adoption of pupll passports for thos8 on the SEND register whlch enabled all leachers to have summary access to need and rovision. Towards thé end of the year, the new SENCO developed new provislon mapping syst8m for deployment in the next cademic year. wld8 range of cultures were experienced by children during the ear ranging from celebrations for th8 Coronation to Chinese New ear lo language endchment actlvlt18s in French, Sp8nlsh, Italian nd Latln. Maxlmlse the potentlal of staff and pupils hrough intelligent systems that meet the need5 of our entire St Piran's family Development of our Management Information Systems ontlnued during the year with the Implementation of the dmissions modul& and the introduction of a new billlng ystem for parents. This posts bills lo a secure Parent Portal reducing Ihe rlsk of phishing and fraud and Ilminallng Ihe need for paper bills. Create an archive of St Piran's School hat is used and treasured by all. Plans have been made to work towards displaying rchives in our Board Room and to involve children In the lassification process. A second volume of our Millstone Book has been commissloned to cover 1982- 2019 and a st Piran's Alumni day wag held in the summer term ttend8d by entY older ex-pupils. In addltlon, recent leavers were hosled for a rounders and crlcket afternoon. Design an Upper School Slte Plan which nables the eldast pupils to thrive and prepares them for senior school ransitlon Opllons for a sustalnable building have been explored durlng the year with plans and quotes being obtained. However, wllh the change in government and introductlon of VAT for he next academic year, it was declded to postpone any significant capital projects. The School's focus on a skills-based approach to leaming continued to underpin the curriculum with teachers priorilising the skills children need, with the aim of giving children skills for lif8. In the 11 + the examlnatlons th8 School had a pass rate of 70%, just under the five-year average of 750/0. In addltlon, 16 scholarships to independent senior schools were awarded covering Sport, Academic, Music and Art awards. The School is non-selective but academic achlevements are Impressive across all year groups. However, the School goes beyond purely academi¢ achievement and focuses on social skills, empathy and charity. Reinforcing the School's Christian values, pupils are involved in many charitable events and considering those less fortunate than themselves continues to be a topic of many assemblies and Personal, Health and Social Education classes. Page 7
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) GOVERNORS, ANNUAL REPORT (continu6d) FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and Performance (continued) The School's four Councils made up the Pupll Parllament during the year under review and met regularly each t8mi, discussing ways to Improv8 the School for its pupils, focuslng on wellbeing. aco matters, health and safety and the School's learnlng. The Councils achieved a great daal during the year under review. The Wellbalng Council surveyed children to see how and wher8 thay felt safe and how the School could d8V81op in improving its mental health. Dlscusslons about kindness played a vital part of Friendship Week and resourc&s such as fidget toys and calming lights were purchased for the Wellbeing Room along with naw books for classrooms. This Council worked on connectlng wlth EYFS during Children's Mental Health Week, and with the games staff to get 6V8ryone outdoors with the aim of improvlng wellbeing and menial health. The Learning Councll worked on a project to rename all the classes wlth set names, rather than b&ing named after the teachers and tharefore havlng to change aach y8ar. Their focus on MET Imotlvalion, engagement and thinking) Inspired the new class names which will be used from Septernber 2024. The Safety Council reviewed areas ofthe School from a h8alth and safety perspèctive, checklng varlous facilities such as the Early Years playground and new gates with the Head of Facilities. Finally, the Eco Council inltlated the planting of various fruits, vegetables, and herbs and sown seeds, enjoylng time outdoors and embraclng sustainabilily every day. To d8velop resilience and self-confldence, pupi15 are encouraged to step out5Ide thelr Gomfort zone, make the most of any opportunity, to have a go and to18am how to take risks. Thls begins in the Early Years. wlth various responslbllltlas belng glv8n to pupils. They begln to speak in front of Ihelr peers, ask questions of and challeng8 each oth8r. Sport, music and drama are all used as vehicles to develop social Interaction skllls and self-belief. During the year under review speclflc actlvilies included Reception children completing a Mlnl First Aid course and Nursery children learning about suslalnability and where food comes from. The 2023124 year bullt on th8 post COVID return to a full range ofperformance opportunities for puplls. Receptlon and Pre-school performed their Boogie Woogle Nativity in the Christmas Term. Tha Easter terms temi saw Year 3 perfom both Peter Pan and Jill and Fred's Most Hysterical Historical Adventure and Year 6 closed out the summer term with their performance of Oliver Jr. At Chrlstmas the Chapel Choir performed at the Advent Chapel Service, as well a5 the Carol SeNice at st Luke's Church, Maidenhead. A busy programm8 of both residential and day trlps took place over the year, includlng the Year 4 residential to Mill on the Brue, the Year 5 residential lo Osmlnglon Bay, the Year 6 week-long residential to Battisborough Hous8. Y8ar 3 visited the Battle of Brlllan Bunker at Hllllngdon as part of the ¢omm8moralion of the 801h annlversary of the Battle of Brilian. These visits and activities are one way In which the School enrlches the curriculum for children across the School. There was success again for St Piran's at sports with a full timetable of home and away fixtures In all sports, giving all children the chance to participate. There were notable achievements this year including tha girls, hockey team achlevlng third place in the country at the IAPS National Final, the U11 netball team won the regional title before heading to the national finals and finishing in the top 10. The U11 boys Irampolining team secured a first in the National School Finals Novlce category. Fundraising St Piran's Society once again supported the School's sense offamily and community throughout the year under review. The Society fundraised on behalf of the S¢hool. The Society used a professional fundraising service for Ihe auctlon held during its annual summer ball. Fundraising was not subject to an undertaking to be bound by any voluntary scheTne for regulating fund-raising, or any voluntary standard of fund-raising, in respect of activities on behalf of the charity. However, the School monltored fundraising activities carried out on behalf of tho charity for the purpose of fund-raising, by regular review with the Headmastor and the Governors at the Flnance and Genoral Purposo rneetings, held termly, and by regular soclety planning meetings thattook place throughout the year. The charity received no complaints with regards lo its fundraising activities for the year and the School ensured that Ihere was sufficient protection for vulnerable people and other members of the public from behavlour within subsection {2) in the Course of. or in connection with, such activities. events during times of hardship, at the discretion of the Headmaster. Page 8
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) GOVERNORS, ANNUAL REPORT Icontinu8d FOR THE YEAR ENDED 31 AUGUST 2024 Fundralsing {contlnued) These protections included no active or direct pursual of funds from any paty. all events being optional, and a provision to allow access to Fundralslng Included hosting a variety ofevents, both for the parent community and the School's pupils. Flagship events such as the Summer Ball were well attended and were a huge fundraising success. Further activilies Included Christmas wreath maklng. the open mic night, the Chrlslmas grotto and card competltlon, a roller disco, Valentine's discos, Easter egg hunt, Mothèrfs Day merchandise, and a pettlng zoo. Thls engaged all year groups in active. imaglnative and educallonal adventures. In addition, the school uniform shop continued to offer a source of fundraising thal encourages reuse of uniform and aids su5tainabllily. Going Concern After making appropriate enqulrles, the Board of Gov8mors has a reasonable exp8Ctation that the Charlty has adequale resources to continue in operational existence for the foreseeable future. Further details regarding the adoptlon of the golng concern basis can be found In the Statement of Accountlng Pollcles below. Flnanclal Revlow {Including reserves pollcy) After depre¢iallon, the School achieved a healthy surplus In year of £410K {2023- £363K), Overall income was £8.1 M In th8 year ending 31 August 2024 (2023: £7.5MI. Projects undertaken during the perlod under review included.. Adventure playground Pre-school playground The ABC disabled toilet Renovated garden and path around the ABC, Tlpp8t Hall and Music Pre-school and Reception security fenclng Northsld8 facelift and decoration Fire Alarm upgrades and addltions raised from th8 flre rlsk assessment Decoration of Year 1 and Reception classrooms and corridors Render repairs to the boardroom balcony Tlppet Hall alr conditioning Drlveway speed Indlcator sign The maln Income source was fees from puplls. The School managès flnanclal risk by closely monltoring prospective and exlstlng pupil number5 and setting fees at an appropriate level to optimise income and cover costs. Reserves Pollcy As at the balance Sheet date. total unr8Stricted funds for the year ending 31 August 2024 were £4,260K (2023: £3.850K), which were prlncipally represented by fixed assets. The aim ofthe School's Reserves policy Isto build up free funds to provide necessary working capital resources to enable the Charity to m88t strategic objectives and develop the facilities and Infrastructure further to support learning excellenGe. As at 31 August 2024, the total funds comprised- £'ooo £4,280 £0 Unrestricted funds Restricted funds Total funds £4,260 Page g
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) GOVERNORS, ANNUAL REPORT Icontlnued) FOR THE YEAR ENDED 31 AUGUST 2024 Rlsk Management and Uncertaintles The School maintains a Register of Risks which is regularly reviewed to ensure that it reflects the risks and uncertaintles facing the School, and, if necessary. is updated annually. Such risks and uncertaintles are assessed as elther high, medium or low. The Register is then considered by the Finance and General Purpose Sub-committee who recommend its approval to the Board of Governors. Governors and the Senior Management Team remalned cognitive of the macro-8conomic and ext8mal envlronment. They ¢ontinuously scan and assess for threats includlng comp8tition and prlcing pollcy of other schools, and the implications of the uncertainty surrounding parent affordability, particularly as th8 nation deals with the current economic crisis. Operating costs contlnue to be monitored closely and the threat to Business Tax Rellef, charltable status VAT on school fees. D8SPIt8 the economic and polltlcal cllmat8 during the year under review, strong and new interesl In the School contlnued to be hlgh. N8vertheless, in a time of economic uncertalnty there will be challeng8S to parent affordability and hence pupil numbers, whlch underpin the School's financial security. Operating costs and school fee Increases wlll continue to require careful conslderation. The Governors also recognise the importance of Investment In Infrastructure and facllitl8S to m8int8ln standards of exc8llence and to remaln competlllve In th8 mark8t sector. Investment to Ihe site and facllltles continu8s to maximise pupil benefit from the School's educatlon and is essentlal to enable the School to compete effectlvely against other schools, facilities and provision. Cognisance Is taken of the prevalllng political and economlc climate in determining investment programmes and risks are fully discussed as part of the declslon-maklng process. The Governors continued to manage the School's financial Security by managing school fees and cosls. and by careful investment of funds In safeguarding, educational development, IT SOare, compliance, reputatlon and the School'8 Outstandlng, motlvated and valued staff body. PLANS FOR THE FUTURE The 2023124 year also marked the start of a flve-year plan to span the years 2024-2029, The major strands of the plan are: People - developing and refinlng capacity of the School's stsff to maintain and Improve the standards of educatlon dellvered., Reslllence- dev81oplng r&sili8nce of the School's buslness processes to S8cur8 a successful future., Product- future proofing the School's facllltles by Investing appropriately and developlng and enhancing the School's offering to its pupils; and Process- ensurlng all processes. both educational and business, are allgned. Pag8 10
ST PIRAN'S SCHOOL LIMITED (A Company Limitad by Guarantee) GOVERNORS, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The Governors (who are also directors of the Company for the purpose of company law) are responsible for preparing the Governors, Annual Report (including the Strategic Report) and the financial statements in accordance with applicable law and United KingdomAccounting Standards (United Kingdom GenerallyAccepted Accounting Practice). Company law requires the Governors to prepare financial statements for each financial year, which give a true and falr view of the state of affairs of the charilable company and of the incoming resources and application of resources, including the income and expendilure, of the charitable company for that period. In preparing these financial statements, the Governors are required to- select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019., m8ke judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the 'going ryjncern basis, unless it is inappropriate to presume that the charitable company wlll contlnue 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 financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO THE AUDITORS We, the Directors of the Company, as set out above, who held office at the date of approval of these Financial Stalements each Conflrm, so far as we are aware, that: there is no relevant audit information of which the Company's auditors are unaware., and we have taken all the steps that we oughl to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. In approving the Governors, Annual Report, we also approve the Strategic Report included therein. in our capacity as Directors. AUDITORS The Governors will propose the reappointment of MHA as the auditors of the Charity at the Annual General Meeting on 30 April 2025. This report was approved by the Governors on 26 March 2025 and signed on their behalf by: LOR Chair of Governors Page 11
ST PIRAN'S SCHOOL LIMITED (A Company Llmlted by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST PIRAN'S SCHOOL LIMITED Opinlon We have audited the financial statements of St Piran's School Limited {the 'charitable company,) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation 15 applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its Incoming resources and application of resources, Including its income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wlth the requlrements of the Companies Act 2006, Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing {UK) {ISA8 (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the fi'nancial statements in the United Kingdom, Including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audlt evldence we have obtained is sufficient and appropriate to provlde a basis for our opinion. Conclusions relating to going concern In audltlng the financlal statements, we have concluded that the Governors, use of the golng concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable cornpany'5 ability to continue as a going concern for a period of at least 1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Governors with respect to going concern are desctibed in the relevant sections of this report. Page 12
ST PIRAN'S SCHOOL LIMITED (A Company Limlted by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST PIRAN'S SCHOOL LIMITED (CONTINUED) Other Informatlon The other information comprises the information induded in the Annual Report other than the financial statements and our Auditor's Report thereon. The Governors are responsible for the other information contsined within the Annual Report. Our opinion on the financial ststements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, In doing so, Consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materialty misstated. If we identify such material inconsistencies or apparent material mlsstatements, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of thi5 Other information, we are required to report that fact. We have nothlng to report in this regard. Opinion on other matters prescrlbed by the Companios Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomiation glven in the Governors, Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Governors, Report and the Stralegic Report have been prepared in accordance wth applicable legal requirements. Matters on whlch we are requlr8d to r8POrt by exceptlon In the light of our knoedge and understanding of the charitable company and its environment obtalned in the course of the audit, we have not Identified material misstatements in the Governors, Report Including the Strateglc Report. We have nothing to report in respect of the following matters in relation to whiGh Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement vAth the accounting records and returns; or certain disclosures of Governors, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Page 13
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST PIRAN'S SCHOOL LIMITED (CONTINUED) Responsibilities of Governors As explained more fully in the Governors, Responsibilities Statement, the Governors (who are also the diredors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control a5 the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Governor5 are responsible for assessing the charitable company'5 ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do 50. Audltorf8 responslbllltlas for the audlt of the financial 8tat•ment8 Our objectives are to obtaln reasonable assurance about ether the financial statements as a ole are free from material mi5Statement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) wll always detect a material misstatement when it exists. Misstatements can arise from fraud ar error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, Including fraud. The extent to which our procedures are capable of detecting irregularitles, Includlng fraud is detailed below.. Enquiry of management around actual and potential litigatlon and daims., Performing audit work over the risk of management overrlde of controls, includlng testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the norrnal course of buisness and reviewing accounting estimate5 for bias,. Reviewing minutes of meeting5 of those charged with governance., Reviewing financial statement disclosures and testing to supporting documentation to a55ess compliance with laws and regulations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involve5 intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.fr¢.or -uklauditorsres onsibilities. This description forms part of our Auditor's Report. Page 14
30 April 2025
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities other trading activities Investments 31,292 7,299,092 686,668 62,266 31,292 7,299,092 686,668 62,266 27,492 6,759.964 627,846 43,879 Total Incom• 8,079,318 8,079,318 7,459,181 Expendlturo on: Raislng funds Charltable actlvities S87,793 7,081,760 587,793 7,081,760 425,371 6,670,684 Total expendlture 7,669,S53 7,669,553 7,096,055 Net movement In fund8 409,765 409,765 363.126 Reconciliation of funds: Total funds brought forward Net movement in funds 3.850,178 409,765 3,850,178 409,765 3,487,052 363,126 Total funds carfled forward 4,259,943 4,259,943 3,850,178 The Statement of Financial Activitie5 includes all gains and losses recogni5ed in the year. The notes on pages 19 to 34 form part of these financial statements. Page 16
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarant88) REGISTERED NUMBER: 01047287 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Flxed ass8t8 Tangible a8set¥ 13 3A26,462 3,458,105 3,426,462 3,458,105 Current assets Debtors Cash at bank and In hand 14 2,160,607 2,157,656 478,552 1,383,189 4,318,263 1,861,741 Creditors: amounts falling due within one year 15 13,070,870) (1,273,212) Net current assets 1,247,393 588,529 Total assets less current Ilabllltlgs 4,673,855 4,046,634 Creditors.. amounts falling due after more than one year 16 (413,9121 (196,456) Total net assets 4,259,943 3,850,178 Charity funds Restricted funds Unrestricted funds 17 17 4,259,943 3,850,178 Total funds 4,259,943 3,850,178 The Governors acknowledge their responsibilities for complying wth the requirements of the Act respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Governors and signed on their behalf YLOR Chair of Govemors Date.. The notes on pages 19 to 34 form part of these financial 5tstements. Page 17
ST PIRAN'S SCHOOL LIMITED (A Company Limit8d by Guarant88 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Cash flows from operatlng a¢tlvltles Net cash used in operating activities (note 19) 1,012,845 452,131 Cash flows from investing aGtlvltles Dividends, interests and rents from investments Purchase of tanglble fixed assets 90,428 43,879 1319,369) (251,626) Net cash usad In Invostlng actlvltle8 1228,941) (207,747) Cash flows from flnanclng actlvlties Decrease In finance lease (note 21) 19,437) 138,604) Net cash used In flnanclng actlvitles 19,437) 138,604) Change in cash and cash equlvalents In the year Cash and cash equivalents at the beglnning of the year 774,467 205,780 1,383,189 1,177,409 Cash and Gash equlvalonts at the end of th8 year (note 20 2,157,656 1,383,189 The notes on pages 19 to 34 form part of these financial statements Page18
ST PIRAN'S SCHOOL LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Goneral inforniation st Piran's School Limited is a private company limited by guarantee, incorporated in England and Wales registration number 01047287, charity number 309094. In the event of the company being wound up, the liability in respect of the guarantee 15 limrted to £1 per member of the company. The address of its principal place of business is Gringer Hill, Maidenhead, Berkshire, SL6 7LZ, United Kingdom. The principal activity of the company is the provision of primary school education. The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £1. Accounllng pollcles 2.1 Basis of preparation of financial statements The flnanclal statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charib-es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {issued in October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Ad 2006. st Piran's School Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheise stated in the relevant accounting policy. 2.2 Going Concern The Governors have perfomied a robust analysis of forecast future cash flows taking into account the potential impact on the school of possible future scenarios.This analysis also considers the effectiveness of available measures to assist in mitigating the impacts. Based on these assessments and having regard to the resources available to the entity, the Govemors have concluded that there is no material uncertainty and that they can continue to adopt the going concem basis in preparing the annual report and account5. Further details of this assessment can be found on page 7 of the Governors, report. Page 19
ST PIRAN'S SCHOOL LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policles (contlnued) 2.3 Income All income is recognised once the charitsble company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP {FRS 102), the general volunteer time of the Friends is not recognised and refer to the Governors, Report for more informalion about their contribution. On receipt, donated professional services and facilities are recognlsed on the basis of the value of the gift to the charitable company which is the amount it would have been wlling to pay to obtain services or facilities of equivalent economlc benefrt on the open market., a corresponding amount is then recognised in expendlture In the period of receipt. Income tax recoverable in relatlon to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income Is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 2,4 Expenditure Expenditure is recognised once there Is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure Is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attTibutsble to a single activity are allocated directly to that aGtiVty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basi5 consistent with the use of resource5. Central staff costs are allocated on the basis of time spent. Support costs are those costs incurred directly in support of the objective5 of the company. Governance costs are those incurred in connection wth administration of the company and compliance with constitutional and statutory requirements. Expenditure on raising funds includes all expenditure incurred by the Charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non- charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the haritable companvs objectives, as well as any associated support costs. Page 20
ST PIRAN'S SCHOOL LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcles Icontlnued) 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the institution wth whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £1,000 or more are capitalised and recognised en future economlc benefits are probable and the cost or value of the asset can be measured reliably, Tangible fixed assets are Inltlally recognlsed at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tanglble fixed asset into ils intended worklng condition should be Included in the measurement of cost. At each reporting date the charitable company assesses whether there is any indication of impairment. If Such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impaimient Ioss 15 recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the followlng bases.. Land Buildings Motor vehicles Fixtures and fittings CompLrter equipment The Alix Burnage Centre (Previously the St Piran's Centre) 5 to 50 years 5 years 5t0 10years 3 to 5 years 5 to 50 years Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities. 2.7 Debtors Trade and other debtors are recognised at the settlement amount 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 wth a short maturity of three months or less from the date of acquisits-on or opening of the deposit or similar account. Page 21
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantèe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting poliGi95 IGontinued) 2.9 Liabilities and provisions Liabilities are recogni5ed en there is an obligation at the Balance Sheet date as a result of a past event, it 15 probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the arnount that the charitable company anticipates it wll pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.10 Financial instruments The charitable company only has financlal assets and financial liabilities of a klnd that quality as basic financial instruments. Basic financial instrument5 are initially recognised at transacts-on value and subsequently measured at their settlement value with the exception of bank loan5 which are subsequently measured at amortised cost using the effeGtive interest method. 2.11 Finance leases and hire purchase Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the charitable company. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Financial Activities so as to produce a Constant periodic rate of charge on the net obligation outstanding in each period. 2.12 Operating leases Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. 2.13 Pensions Retirement benefits to employees of the school were provided by APTIS, a defined contribution scheme. From January 2022 all staff were enrolled in APTIS. Prior to that date, non-teaching staff made contributions to People's Pension. Page 22
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcles (continued) 2.14 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. 2.15 Critical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, Includlng expectations of future events that are believed to be reasonable under the circumstances. The judgements that have had a significant effect on amounts recognised In the financial statements are those concerning the choice of depreciation policies and asset Ilves. Income from donatlon8 and legacles Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 31,292 31,292 27,492 In 2024 and 2023 all Income from donations wa$ unrestricted. Income from charitable actlvltles Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Fees receivable Bursaries, scholarships and discounts Music lessons and other income 7,429,854 1359,586) 229,024 7,429,654 6,845,306 (359,586) (281,306) 229,024 195,964 Total 2024 7,299,092 7,299,092 6,759,964 In 2024 and 2023 all income from charitable activities was unrestricted. Page 23
ST PIRAN'S SCHOOL LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Other tradlng actlvltles Income from fundralslng events Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Sports hall income Other income Forfeited deposlts 283,441 387,227 16,000 283,441 387,227 16,000 171,604 441,242 15,000 Total 2024 686,668 686,668 627,848 In 2024 all income from fundraising activities was unrestricted. Investment income Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Bank Interest 62,266 62,266 43,879 Page 24
ST PIRAN'S SCHOOL LIMITED {A Company Limitsd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Expenditure on raising funds Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 The Alix Burnage Centre expenses including salaries (Previously St Piran's Centre) Other costs Estsblishment vmges Depreclatlon 233,182 12,397 291,008 51,206 233,182 12,397 291,008 51,206 234,698 11,708 137,319 41,646 Total 2024 587,793 587,793 425,371 In 2024 and 2023 all expenditure on raising funds was unrestricted. Analy81s of expendlture on charltsble a¢tlvltles Actlvities undertaken directly 2024 Support costs 2024 Total funds 2024 Provision of education 4,995,779 2.085,981 7,081,760 Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Provision of education 4.470,799 2,199,885 6,670.684 Page 25
ST PIRAN'S SCHOOL UMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expendlture on charitable activities (continued) Analysls of dlrect costs Total funds 2024 Total funds 2023 Teaching and house salaries Tuition materials Other direct costs 3,900.899 495,922 598,958 3.557,619 396,245 516,935 Total 2024 4,995,779 4,470,799 In 2024 and 2023 all expenditure on direct costs was unrestricted. Analysis of support costs Total funds 2024 Total funds 2023 Staff costs Depreciation Finance Premises Office management Govemance costs 694,555 281,081 3,836 784,524 205.163 116,822 794,202 319,948 26,406 835,129 129.729 94,471 Totsl 2024 2,085,981 2.199,885 In 2024 and 2023 all expenditure on support costs was unrestricted. Page 26
ST PIRAN'S SCHOOL LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Net Incom8118xp8ndlture) 2024 2023 This 1$ stated after charging.. Depreciation of tanglble flxed assets: - owned by the charity held under finance leases Auditors, remuneration - audlt Auditors, remuneration - other seNlce8 Operating lease rentals 322,405 9.882 13,750 3,640 16.506 324,802 36,792 12,100 3.440 25,081 10. Staff costs 2024 2023 Wages and salarie5 Social security costs Contribution to defined contribution pension schemes 4,212.786 361,159 312,517 3.860,374 328,995 299,771 4,886,462 4,489,140 The average number of persons employed by the charitable company during the year was as follows.. 2024 No. 2023 Teacherg Other staff Management 48 100 106 156 150 Page 27
ST PIRAN'S SCHOOL LIMITED IA Company Limitèd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 10. Staff costs (contlnued) The average headcount expressed as full-time equivalents was.. 2024 2023 No. Administratlon Domestic Grounds Teaching Teaching assistants Nursery nurses The Alix Burnage Centre (Previously St Plran's Centre) 38 21 16 38 21 16 101 99 The number of employees whose employee benefrts (excluding employer penslon costs) exceeded £60,000 was.. 2024 2023 No. In the band £60,001- £70,000 In the band £100,001- £110,000 The key management personnel of the charrtable company comprlse the Governors and the senior management team as Ilsted on page 1. The total amount of employee benefits (including employer pension contributions and employers national insurance contribution5) received by key management personnel for their services to the charitable company was £579,08212023'. £454,396), 11. Governors. remuneration and expenses During the year, no Governors received any remuneration or other benefits12023- £NIL). Durlng the year ended 31 August 2024, no Govemor expenses have been incurred {2023- £NIL). 12. Interest payable 2024 2023 Finance charges 3,836 3,549 3,836 3,549 Page 28
ST PIRAN'S SCHOOL LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Tanglble flxed assets Freehold property Motor Flxtures Computer Oth8r fixed vehlcl88 and Ilttlngs equipment assets Total Cost or valuation At 1 September 2023 Additions Disposals 4,051.186 68,076 (31.703) 110,176 1,004,521 92,240 (165,374) 567,716 109,300 (43,919) 1.577,865 7,311,464 49.753 319.369 (240,996) At 31 August 2024 4,087,559 110,176 931,387 633,097 1,627,618 7,389,837 Depreciation At 1 September 2023 Charge for the year On disposals 1,739,672 146,790 (12,978) 102,268 7,591 797,548 55,952 {165,374) 463,608 70,748 (43,919) 750,263 3,853,359 51,206 332,287 (222.271) At 31 August 2024 1,873,484 109,859 688,126 490,437 801,469 3,963,375 Net book value At 31 August 2024 2,214,075 317 243,261 142,660 826,149 3,426,462 At 31 August 2023 2,311,514 7,908 206,973 104,108 827,602 3,458,105 The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows.. 2024 2023 Computer equipment 22,019 31,903 22,019 31,903 Page 29
ST PIRAN'S SCHOOL LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14. Dobtors 2024 2023 Due within one year Trade debtors Other debtors Prepayments and accrued income 1,888,157 36.037 236,413 217,687 65,514 195,351 2,160,607 478,552 Trade debtors relates to fee Involces ralsed for Autumn Term 2024 fees not due untll September 2024 and other fee debtors. Due to a finance system change Since September 2023 invoices have been issued In advance of the commencement of term. Prevlous to the system change requests for payments were issued prior to the commencement of terrn and invoices issued subsequently. (2023.. trade debtors related to other fee debtors for 2022123). 15. Credltors: Amounts falllng due within ono year 2024 2023 School depostts Trade creditors Other taxation and soclal security Net obligations under finance lease and hire purchase contracts Pension contributions payable Accruals and deferred income 46,000 205,248 87,076 9,437 45,675 2,677.434 42,000 71,444 80,693 9,437 1,069,638 3,070,870 1,273,212 Page 30
ST PIRAN'S SCHOOL LIMITED (A Company Limlted by Guarant88) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Cr8dltors: Amounts falling due wlthln one year (continu8dl 2024 2023 Deferred Income at 1 September Resources deferred during the year Amounts released from previous periods 860,894 935,231 2,546,746 860,894 1860,894) (935,231) 2,546,746 860,894 Oeferred Income related to Autumn Term fees invoiced in advance and school trips taking place next year. (2023.. deferred income related to Autumn Term fees received in advance and school trips taking place in the next yearl. Due to a finance system change since September 2023 invoices have been issued in advance of the commencement of term. Previous to the system change requests for payments were issued prior to the commencement of term and invoices i55ued subsequently. Creditors due within one year include £45,675 (2023.. £nil) relating to outstanding pension contributions. The bank facilities, comprising an overdraft facility of £100,000, are secured by fixed and floating charges over the School's assets. 16. Credltor8: Amounts falllng due after more than one year 2024 2023 School deposits Net obllgations under finance lease and hlre purchase contracts Accruals and deferred income 166,600 12,019 236,393 175,000 21,466 413,912 196,456 Obligations under finance leases and hlre purchase contracts, included above, are payable as follows.. 2024 2023 Between one and five years 12,019 21,456 Page 31
ST PIRAN'S SCHOOL LIMITED IA Company LTmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Statement of funds statement of funds - current year Balance at I September 2023 Balance at 31 August 2024 Income Expendltur8 Unrestricted funds General Funds 3,860,178 8,079,318 (7,669,553) 4,259,943 ststement of funds - prlor year Balance at 1 September 2022 Balance at 31 August 2023 Incorne Expenditure Unrestricted funds General Funds 3,487,052 7,740,487 17,377,361) 3,850,178 18. Analysls of net a95ets betwe•n funds Analy81s of net assets between funds - current perlod UnrestrlGted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wthin one year Creditors due in more than one year 3,426,462 3,426,462 4,318,263 4.318,263 (3,070,870) (3,070,870) 1413,912) 1413,912) Totsl 4,259,943 4.259.943 Page 32
ST PIRAN'S SCHOOL LIMITED (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 18. Analysis of net assets between funds (continued) Analysls of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Tangible flxed assets Current assets Creditors due within one year Creditors due in more than one year 3,458,105 3,458,105 1,861,741 1,861,741 <1,273,212) 11,273,212) 1196,456) (196,456) Totsl 3,850,178 3,850,178 19. Reconciliatlon of net movement In fund5 to net cash flow from operatlng actlvltios 2024 2023 Net income for the period las per Statement of Financial Activities) 409,765 363,126 Adjustments for.. Depreciation Charge5 Dividends, interests and rents from investments Increase in debtors Increasel(decreasel In creditors 332,287 162,266) 11,682,055 2,015,114 361,594 143,879> (31,970) {196,740) Net cash provided by operating activities 1,012,845 452,131 20. Analysls of cash and cash equlvalents 2024 2023 Cash at bank and in hand 2,157,656 1,383,189 Total cash and cash equivalents 2,157,656 1,383,189 Page 33
ST PIRAN'S SCHOOL LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 21. Analysls of changes in net debt At1 September At31 2023 Cash flows August 2024 Cash at bank and in hand Debt due within 1 year Flnance leases 1,383,189 774,467 {45,675) ,437 2,157,656 (45,675) (21,456) (30,893) 1,352,296 738,229 2.090,525 22. Pen3lon commltmonts All company employees belong to APTIS for academlc and related staff, a defined contribution pension scheme. Until 31 December 2021, non-leaching staff were enrolled in People's Pension. 23. Operatlng loa5e commitments At 31 August 2024 the charitable company had commitments to make future minimum lease payments under non-cancellable operating leases a5 follows- 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 16,606 7,893 25,081 24,399 24,399 49,480 Rolated party transactlons In the year to 31 August 2024, the school has employed,. A Sales, wife of Head., E Taylor, daughter of the Chair of Governors, L Robinson, wfe of key management personnel and A Richmond, son of head of EYFS. These employees are paid at normal commercial rates with no involvement by the related party in the decision making proces8. Page 34