Registored number: 00898S39 Charlty number: 309098 LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlted by guarantee) GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 'ALWPJ )NU• 1910212025 COMPANIES HOUSE A12
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LAMBROOK SCHOOL TRUST LIMITED (A company limltod by guarantee) CONTENTS Page Reference and admlnl$trativ• details of the companyp ils Governors and advisers Governors. r•port Govemor8' r•8ponslbllltle8 Statement Indopendent auditorfs report on tho financlal statem•nts Stalement of financlal actlvltl•• 3-21 22 23-26 27 Balanco sheet 28 Stal¢m•nt of ca•h flow8 29 Not•s lo financlal 8ts1¢m¢nt• 30-53
LAMBROOK SCHOOL TRUST LIMITED IA c¢)mpany limited by guarantee) REFERENCE AND AOMINI8TRATNE DETAILS OF THe COMPANY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024 Govemofs Mr P 8urrowes, Chair Mr C J B Bromfield Mr 8 Chukwuemeka Miss A Dobson Mr A Honnor Ms M El-Kh8zen (8ppolnl8d 23 November 20231 Mr J Lamont Mrs H Lyman Mr D F Macleod Mr P McK88 MrGANell Mrs A Nicoll Dr A Peterken Board 8ub*Commlltees Fln•nc• •nd G•noral Purpo••8 Commltt•• Mr P Burrowes Mr C J B Bromfield Mr B Chukwuemeka, Chair Mr J Lamont Mr D F Macleod MrGANell Edueatlon Commltlee Mrs A Nicoll, Chair Miss A Dobson Mr P McKee Dr A Pelerken Health and Safety Commltte• Ms M El-Khazen (appointed 23 November 2023) Mrs H Lyman, Chalr Mr A Honnor MrGANeil Governance and Nomlnatlon8 Comrnltteo Mr P Burrowes, Chair Mr C J 8 Bromfield Mrs A Nicoll Mrs H Lyman Key Management Personnel Mr J Perry. Headmaster Mr W Kay-shultleworth, Deputy Headmaster Mrs C Hetherington, Director of Finance Mr N Moullon. Bursar Page 1
LAMBROOK SCHOOL TRUST LIMITED (A company limtted by guarantsa) Company r•glsl•r•d number 00898539 Charity reglstered number 309098 Reglgtored offlc• Winkfield R¢)w 8racknell Berkshire RG42 6LU Company 8•crotary Mr C J B Bromfield Indepand•nt auditor Crowe U.K. LLP R+ 8ullding, 2 Bla9rave Street Reading Berkshlre RG1 1AZ Bankers 88rclays Bank PLC 4th Floor Apex Plaza Forbury Road Reading RG1 1AX Pagè 2
LAMBROOK SCHOOL TRUST LIMITED (A company limitod by guaranlae) GOVERNORS. REPORT FOR THE YEAR ENDED 31 JULY 2024 Declaratlon Th8 Governors, who are also charity trustees for the purpose5 of the Charilies Act 2011, Psent thelr annual report Sn compliance yth both Ihat Act and the Companies Act 2006. together with the financlal slatements prepared under the latter Act. for the year ending 31 July 2024. The forrnal and content of the rèport and financial statements comply wlth the Companies Act 2006, the Charities Act 2011 and the Stalement of Recommended Practice.. 'Acxounling and Reporting by Ch8ritie$' SORP (FRS 102}. Introduction to Lambrook Lambrook 18 a leadSng ¢Treducallon81 Prep School for 830 boys and girf8 aged behveen 3 and 13 years. set In 52 acres of beautiful Berkshire countryside c105e to the town of Ascot. The School is run as an independent Charltable Trust, administered by a Board of Govemors. Lambrook was founded in 1 a60 and has b88n inspiring and educatin9 children for over 160 years. The School is madg up of two sections., The Pre-Preparatory School IEYFS and Years 1 to 2) and the Preparatory School (for pupils in Years 3 to 8). Lambrook has a vibrant mix of children from a wide range ol back9rounds, feeder schools and geographical area5, induding Ascot. Windsor, Eton. Henley, Maidenhead and also further afield from areas including West London, from where minibuses run daily. Lambrook offer8 weekly and Ilexi-boardlng for boys and glrls from aged 7. There Is a thrfvlng boardlng communlty where pupils board anylhing from 1 night every so often to 5 nights a week (weekly boarding Is Irom Monday-saturdayl. There are currently 110 beds beh¥een bNO boarding houses (Girls and Boys). which are fvll mosl nlghls. Each house Is overseen by a House Parent and supported by tutors. Lambrook is proud of Ihe acadernic success of its puplls,. natlonally standardised test dala indicates that their performance is well above average for their age. Pupils leave Lambrook and continue to Ihrlva at thé lop senior schools In the country, with many awarded academic. music and sport scholarships for excellence in these fields. Lambrook provides a breadth of educational, pastoral and cTrcurrlcular experiences for each one of its children, nurtUTlng and equipping them $0 that they are prepared for the next stage of their educational jouiney and indeed, life beyond. With fantastic facllitles, both Inslde and oulslde of Ihe classroom,. 25 melre Swimming Pool, Sports Hall, Chapel, Performing Arts Centre. Dance Sludio. Art and Design & Technology workshops, srience laboratories, a small farm area with animals. an orchard. a woodland lo explore, a nine-hole golf course, aslrolurfs and hard courts, as well as acres of beautiful grounds and endless sports pitches, Lambrtsjk children have an idy11ic selling and a w8allh of opportunities available to them. The School is commilled to broadening educational opportunities, widening access to the school, using its resources and faciliti8s for others and having an outward-looking approach in all that it dogs. Lambrook strives to have a significant and positive impact on the lives of the children al the School 50 that they continue 10 show kindness lo themselves. to others and lo the environment. truly maklng a difference to others both now and in the future. Page 3
LAMBROOK SCHOOL TRUST LIMITED IA cornpany Ilmited by guarante•l GOVERNORS, REPORT {CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Lambrook's Purpose Sinca 1860. Lambrook has b8en I8ng the foundaOn8 for Its puplls, futures. Children have one opportunity for an education which will form the basis of their lives and, at the same lime. one childhood,. Lambrook aims to keep a happy balance beeen the two. During their time with us, we give our pupi15 the 'Feathers to Fly, so that when they leave, they will spread their wings and will take flight., leavlng Lambrook as confident. happy, engaging, independent and kind young people who are outward looking in all that they do. Inspiring pupils from Nursery through to Year 8, offerlng Ihe most outstandlng breadth ol edutIonal experlences, encouraging academic intrigue and a d8sire lo leam. Nurturlng and supportlng all puplls through an outstsnding level of pastoral care, empowering pupils to flourish and hav8 h8allhy relatlonshlps with others wilhln our vlbrant and ¢arSng School community. Proyiding puplls wlth an abundance of opportunities to discover, pursue and develop their skills. talents and Interest$. Preparlng our chlldren lor the nexl stage of thelr educallonal loumey, developing the many 'fealhers' necessary for their time at Lambrook, al Iheir future senior schools and beyond. Equlpplng our chlldren wlth the skllls and Ihè confidence to understand the chall8nge8 of the world In which they live; recognislng theSr re5pon5ibilily towards others, the envlronmenl and Ih8mselves and enabllng them to make a difference, both now and in the future. The Governors, and the School's prlmary oty'ectlve Is to provlde the hlghesl standards of care and education to all of its pupils. Page 4
LAMBROOK SCHOOL TRUST LIMITED (A Company limited by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Revlew of the Academ1¢ Y•ar 202312024 Overview Lambrook pupils have continued to impro$$ in all areas of School life thi8 pasl academic year, embracing the opportunities that that hav8 b88n provided,. from the académics lo the creative and performin9 art5, Sport to boarding, charity fundraising to looking after Lambrook's animals and the environment; pupils have been Inspired both inside arKI outside the classroom. developing their k)ve of learning and the outdoors. They have gr¢)wn in confidence and have shown empaihy and kindness lo those around them- each pupll excelling in théir own Indlvldual way. There have been a great number of highlights over the year. which have included, Children's Mental Heallh and DiversSty week, LamBOOK week, charity colour runs, House Charlty days, Art exhlbltlons, Music festivals, sportlng fixttsres and tournaments and academic compelStions. Puplls have enjoyed happy tlmes in the Boarding Houses, have been inspired by visits.ng speakerg, have taken part In plays and performances, gone on trips and residentials, as w811 as having the lime lo support others, Ihrough visits lo partnership cara hom8s and th8 hostlng of partnership days at School. Tha energy and culture at Lambrook have continued to be tnjly distinclive, standing out to both current parents and vlsilors to the School. Prospective families love visiting L8mbrook, not lust to see the fantastic facllilles and educational provision on offer, but mostly because they enjoy meeting the confid8nl, h8ppy, engaging, mature, Conslderale and thoughtlul children. The School prides Ils&lf on ils partnership with ils parents and this yoar, the relationship has gone from strength lo strength. Academlc Pupils have made significant strides in many areas academically this year. Pupils continue to be inspired by 8 high calibre of both leaching and support staff, who draw out the potential of each and every child. Lambrook has a hi9h teacher to pupil ratia. who tailor their leaching to suit individual pupil needs, as appropriate. A real highlight for all of the pupils has been the School's academic cross-curricular days, which this year included an Al Day (Artificial Inlellig8nc81 where staff and pupils worked collaboratively a¢r05S the various year groups lo complete many exciting projects and challenges. Alongside a packed timetable of inspiring lossons, there have been ac8demlc compellllons and aw8fd$ for individuals across many Year Groups, Year 8 pupils achieved excellent Common Entrance Examination fesulls, scholarships have been awarded by some of the lop senior school$ in Ihe country. and Year 6 and T puplls have impressed at their senior school interviews. The School's academic leaders continue lo review. adapt and develop its curriculum. teaching the children about an ever-changing and thallenging world, giving them the s[1$ and confidence lo question what Ihey see, and to truly make a difference both now and in the future. The School is currently looking at the way in which the Humanities subjects are studied and will pilot a new course. created by Lambrook teachers. in the next academic year. Lambrook's Common Entrance 100°/• pass rale success has continued, and Ihis year, pupils will go on lo the top senior schools in the country, including Bradfield, Brighton College, Charterhouse, Cheltenham College. Downe House. Eton College, Harrow. Lord Wandsworth, Marlborough College, Oundle, Radley, Rugby. Shiplake, St 8enedicl's, St Edward's Oxford, Tonbridge, Tudor Hall and Wellinglon College. Page 5
LAMBROOK SCHOOL TRUST LIMITED {A company limit?d by guarantee GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Lambrook recognises that each pupil is different, and conversely, as are the subjects and lopics studied and the senior schools that it sends ils pupils on lo: Lambrook is keen to find the right sch¢x)I for the right child. somewhere where they will continue to thrive and be happy. At the start of the year. parents were invited lo a Future Schools, Evèning where they were givèn the opportunily lo hear from a range of speakers from different schools. Areas such as pastoral care, academic preferences. boarding versus day schools and single sex versu5 co-educational schools were discussed, encouraging parents lo make the Choice that is right for their child and for their family. The School Identilles Potential scholars In Year 7 and thls year, Lambrook's scholarship pupils have already been awarded academic, music and sport scholarships for excellence in these fields, with others going on to Sit scholarship awards in their first year of their senlor schools. Whether the children are in the Nursery, the Pre Prep or the Prep School, staff are commltted lo ensuring that the chlldren are fully equipped and ready for the next stage of their academlc loumey. Puplls have used technology to 8nhanc8 their leaming with thos8 in Years 5 and abov8, have a laptop, purchased by parents, as part of their classroom tool kit. In an ever-chan9ing wodd. the School continues to work clt>sely with leading experts in the area of digllal technology to ènsurè that ils pupils are best-equlpped for the beneflls and challenges ol being onlin8, 8nd particularly staying safe when using the internet. Several of Lambrook's slaff m8rnbers are pione8fS in digital teaching and have regularly been key note speakers at online edu¢ational events. Lambrook frequently welcomes visiting speakers lo the School. This past year, as part of Ih8ir Saturday School experiènce, PUFxls In Yg8r$ 5-8 hav8 h8d the opportunity to 118len lo. and engagg with, a fantastic array of speakers. covering 8 wide range ol topics and areas Including., Ihe challenges ol creating a buslness, Paralymplc swimming, getrmapping, diamonds, amiy velerans, lh8 secret sernice. to name but a few. Clearly inspired by Ihese visillng speaker5. pupils have further develop8d their leaming in the classroom and have engaged th many new subject areas. A key feature of Lambrook's Purpose is to 'Prepare' puplls for the World outside and beyond Lambrook and this range of speakers, sharing th8lr knowledge and underslBnding, has inspired the children tt) think deeply about the world and ils challènges, The School'5 Learning Oevelopmenl Team ILD) 8xisls lo support pupils in their academic journeys. For everyone accessing the resource. thg School aims to best support pupils within their own classroom envlronmenls,. to build the vil81 $kill$ of $elf-esteem, self-worth. and confidence. Individual and group lessons are free of charge and are tallored Indivklually for literacy, numeracy, study skills arKI English as an addilional language. Pastoral Car• Tailored pastoral provision. providéd by all Lambrook staff and overse8n by Ihe Head of Pa8loral Care and deslgnaied Safeguarding leads. seeks to equip each child from Nursery through to Year 8 with the skills requTrd to value and 1¢3ok aft8r themselves, one another and to dernonstrate kindness and respect. These skills help pupils to be resilient and copè when life gets difficult, bul also lo be brave enough lo ask for help when they are unable lo. By weaving a strong sense of wellbeing into everyday life at Lambrook, the School strives to have happy and secure children who Ihrive, both in and outside th8 dassroom. Over the past academic y8ar, staff have used AS Tracking to lormally monitor pupil voice. both individually and as cohorts (AS Tracking is an online social-emotional assessment and tracking tool designed to detecl hidden pupil risks, In and out of school to allow earlier response). From these results. pasloral provision has been adapted and tallor8d to specific Year Groups and individuals (where requlred). In-house tracking and Pasloral Pyramids have been irnplemented, a system whith places pupils on a pyramid and subsequently. provrding intervention lo bring pupils down the pyramid, as they become happier and more secure. Page 6
LAMBROOK SCHOOL TRUST LIMITED (A Company limlted by guaranto?) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Uslng dedicated Natlonal and own-lnltlallve campalgns. across thls past year, th8 School has taken part in Children's Mental Health Week. Worfd Mental Heallh Day. Antl-8ullying Week, Express Yoursèlf Day and Olversity Week. A5 well as championing good relationships acfOS5 the pupil body, several pupils have put themselves forward to be Lambrook listeners,. to act as listeners and 'signposts' to théir pèers. Lambrook's vertical Hous8 System (each pupil in the School is part of a House) enables older puplls lo support youNJer puplls and to act as role model5. These slrong relationships continue outside of fomial House meelings. Staff are always av8llabl8 to Support puplls and puplls ere w8lcom8 to U88 the In-house School Counsellor as an independenl listening ear, Lambrook's Therapy Dog. new this academic year, is also a listening ear and an emolional support to our pupils. As well as giving much unconditional lovè to the L8mbrook Community, she has also 9iven confKJenc8 lo pupils as she listens lo them read. One of the School's Learning Development 18ads has Inlroduced workshops lor pupils with SEMH (Social Emotional Mental Heallh) needs. Through PHSE and age-appropriale assemblies. pupils have been taughl about key thèmes. This has been done agalnsl the backdrop of areas and rnovemenls Includlng, Saf8gu3rding, Everyonfr's Invited. #metOO and Black Lives Matter, leaching and equipping pupils as ciknzens of their GuTrent communities and those that they will encounter in the future. Lambrook conslders Ils partnershlp with paronls vilal in bglng able to support Its pupils hollslically and offer8 regul8r conversations and communlcallons, as well as tailored courses and tslks throughout the year. Thls year alone, the School has offered talks on resilience. anxiety, mobile phone and inlemet use, parenting post Covid. $upporting your children through changé and nutrilion. L8mbrook celebrates each individual pupil and staff member, regardless of thèir background. Thè School offers the opportunity for each child lo develop their potential, taking into acGount their different learning profiles. abilitiès and Inlerosts. Children are laught about diverslly and Inclusivlty In all aspects of School life. whelher that be through the teaching curriculum. the sports pitch. in 88sèmblièS, or as Ih8y travel further afield on trips and visits. Although the School expects pupils to work hard, it is also essentlal Ihal they slrlke an appropriate balance beeen work and play, and that they take the time out to enjoy the plethora of acliwties offered outside ol lessons. Whether baking In the Boarding House, rehearsing a play. looking after animals in the Orchard, creating al D&T Club, raising money for their House charities, or simply having special times with friends. Through these opportunities, pupils continue lo gain a broader perspective of what is truly important. Parent Communlcatlon It continues to be incredibly important to get internal and extemal communications right. Againsl the backdrop of uncertain limes economically and politically, it is vital that Lambrook stakeholders feel that they are getting the best service possible and feel well comrnunicaled with. Once these expectations have been set, the School can go on to meet these exp8clalions and hopefully exc8ed them, offering the besl possible experienc8. Lambrook works closely with the parent community. believlng in effective, streamllned. informative and regular communication. This communication lak8s place formally through daily update emails. a wogkly 'Codar' newsletter, parent update meetings but also, infomally ihrough conversations at sports fixtures. concerts and plays and at the start and end of each day. at drop off and colleclion. Page 7
LAMBROOK SCHOOL TRUST LIMITED IA company Ilmlted by guaranteo) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Parents are able lo access a wealth of information through a bespoke Parent Portal. The External Relations Team is currently working wilh the IT and Co-curricular Teams to indude even more aspècts of School lile withln the Portal. Recently, parents have appreclatod using this platform Io view videos of their chlldren in plays and performan¢eg. Facllltles The School Is fortunate to have some of the best faclllties in the independent sector at preparatory level and in many areas. matching Senior School provision. Pupi15 Came back lo the start of lh8 n8w academic year (September 2023> to a re-surfaced and Lambrook branded Astroturf. April saw thè completion of a new set of Cricket nets, siluated next lo the Edrich Oval. Tho retractable nels offer an all-wealher aroa lo be used throughout th8 year. In addition, a new alkweather pitch has been built on the Hedges Field, with sheltered dug outs for teams. a viewing area arml a training section. Following an upgrade to the Boys, Boardln9 last summér. the Girts, 8oafding accomrrK*dation has also received som8 upgrades to bedrooms and communal areas. The Pre Prep playground and outdoor areas have been Updated and upgraded. provlding enhanced and éxciting areas for leaming through play. The Sports Hall Upper Level has been reinforc8d to house a new gym, complete with rowing machines (which have been widely used as part of a new rowing initiative). Projection and lighting in some of the School's communBI and pertormancè spaces h8s been upgraded and developed (Chapel and Performing Aris Cenlre). Ar conditioning has been litled in tho School's upper Qu88n's Bulldlng classrooms, provldlng 8 much cooler workspace for pupils. particularly in the warmèr weather. 8oardlng Lambrook conlinues lo offer weekly and flexi-boarding for boys and girls from age 7 to 13, There is a thriving boardlng communlly where puplls board anhIng from one nlghl every so often to flve nights a week. There are cuffendy 110 beds between boarding houses, which are full almost every night (Lambrook House for girls and Wesffield for boys}. Each house is overseèn by a house parent and supported by tulars. This year, a current staff member took on the posllion of Head of 8oys' 8oarding. Appointed Year 8 Boarding prele¢ls (for both Boys and Girls Boarding) set the tone in the Boarding Houses and pupils across all Year Groups have looked after one another, creating a real lamily environment. Boarding is seen as a happy extension of Lambrook School life with most of the Prep School taking advantage of boarding in some way during iheir tiffle at Lambrook. Boarding offers a great opportunity and a natural slop to prepare pupils lor their future schools. The experience and independence gained at this slightly younger age Is an extremely posrtive and helpful stepping stone for all that awaits them at their fulure schools and beyond. All boarders, whether weekly. flexible or occasional. are fully inlegraled into boarding lrfe and are part of a home from home family environm8nt where they eat, work and relax together- making the most of the fantastic on site facilities. In the surnmef months at Lambrook, swimming, cricket, golf and Dther outdoor games have been played by the boarders well into the evening. In the winter. indoor ball 9ames, cooking and baking, movie nlghls, bonfire evenings and trips to Water Parks and Theatres, have ensured that there has never been a dull moment! Page 8
LAMBROOK SCHOOL TRUST LIMITED (A Company limited by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Houses Pupils across the whole School arè allocated one of four Houses. The energy, t8amwork, camaraderie, determlnation and the klndn8ss shown across all of the Year Groups and the School have been Incredlbly distinctive and something that is priorilisad highly. It has b8en wonderful to witness fTiend$hips and connections across Ihe ages and thIn Ih8ir Houses in particular, with pupils looking out for and stspporting one another during each School day. but also joining together collectively for special events such as. fundraising for their chosen charilies, compeling in sporting events, taking part in CcurrICUlar days or raising their voices in House Oram'a and Singing Competitions. Sport Sport continues to be very much part of th8 curriculum from Nursery through to Year 8. Games sesslons are Ilmelabled on most days during the week and children from Year 2 through lo Year 8, have repr8s8nted Lambrook al a compets'live18vel. wilh some playing al regional, natlon81 and International levels. Lambrook's repulalion on the sporting circuit continues to go from strength to strength, not just In Ihe results attained, but also in how the game is played by ils pupils: the Sch¢x)l is often congratulated by visitors and opposition sports t8ams on th8 posillve and kind atmosphere at the School. Over the past year. a wlde range of sports have been on offer to pupils, including tlmetabled football, rugby, hockey, athletics, netball and cricket. In addition, pupils have also had the opportunlly lo experience a wide variety of other sports such as golf. judo, trampolining. badminton. tennis, swlmming, water polo. polo. lacrosse. basketball and skilng. There have been som8 f8ntasllc succ8s8és In sports fixtures 8g81nst olher schools. and many puplls have also been a part of IAPS competltions, with Lambrook taking part In IAPS finals for swlmmlng, trampolining. clay pigeon shootin9. judo. fencing, skiing, athletscs. Iriathlon, hockey, football and netball. A particular highlight In the calèndar was Sports Day, of which there Vre three In Ihe Summ8f Term (Nursery, Pre-Prep and Prep). Ably supported by friends and family, every single pupil took part, collectively gaining points for their respectlV8 Houses. P•rforming Art8 The Performing Arts Centr8 has remalned a hive of activity throughout the year. As well as academic Music and Orama lessons, 85V¢ of Lambrook puplls have received peripatetsc music, LAMDA or Royal Academy of Dance lessons, with th8 Department offering over 500 limelabled lessons each week. In addition, Ihere have been Year Group choirs. Orch8stras, String Groups, a Wind 8and, Dance Show performancès and several Rock Bands. Professional productions ar8 highly anticlpated by all and showcase an incredible amount of acting and musical ablllty by our pupils. Over the past year productions have included, '8eauty and the Beast., 'Th8 8FG', 'Ati Barber and the Bongo Bandits. and 'The Wizard of Oz.. Performance5 in the OJC have Iruly been a toam effort., fof some pupils. they may have had the leading role. and for others, they may have been in charge of lighting or sound. Performing Arts staff work to the strengths of individuals. whilst at the same lime encouraging children lo step out of their comfort zones and to try new thing5. Well over 180 of Pupils take part in London Academy of Music and Oramati¢ Art ILAMDAI lessons. Talenled pupils have gone on lo receive drama scholarshlps 81 top senior schools. with others golng on to perform in W8St End musicals such Billy Elliot. One of our pupils played Matilda in the musical. Matilda, and has recently undertaken a role in this newly revised musical. Starlight Express. Page 9
LAMBROOK SCHOOL TRUST LIMITED IA company limitod by guaranto•) GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 Pupils perhaps not quite ready for a large audience, have been able to perform on a more intimate scale in r8gular 'LAMDA al Lunchtime. 58ssions. These are opportunities for individuals and small groups lo perform piece to frlends and famlly during a lunchlime, in a very relaxed setknng. With strong links lo future s8nlor schools, there have been chances aplenty for pupils lo watch productions, many ol whlch showcase Old Lambrooklans. All pupils in Years &8 took part In a public speaking competllion, with winners going on lo represent the School in a formal competitson. The Dancers have pul on several Dance Shows throughout the year and each performance has showcased wotl( from across the Year Groups. in the disGiplines of tap. modem, ballet and jazz. At Ihe end of the Lent Temi, pupils put on a wonderful show, 'The Big Dance Show,, whlch included items from 'Barble' and an 'Under the Sea, theme.. featuring dancers from the whole school. A partlcular hlghllght of the year was Performln9 Arls Week, where puplls performed both Indivldually and as Houses. in compelilions and concerts, culminating in an upliftlng Prep School end of term concert, held in the School Sports Hall. Clubs and Enrlchm•nt Lambrook pupils have continued to benefit from a Prep School Enrlchment sèsslon. whlch takes place each w8ek on a Monday aflernoon. Over the past year, puplls have had the opportunity to try Farming, B89 K88ping, Chess. fvAountain 8iking, Fencing, Judo, Croquet, Athletics. Fencing, Film Making, Song writing. Mini Masterchef, Newspaper wdling, Golf, Polo, Podcast maklng, Sewlng, Skllng. Water Polo, Tennis, Community Service. Life Savlng, Photography, Touch TyplrKJ and Clay P(qeon Shooting. Pupils ar8 enwuraged lo ch005e somethlng that interests them (without adult guidance) and to try a new Enrichment activity each half temi. In addition, before and after School clubs allow lor skills to be developed further and over the past year these have included Tennis. Squash. Cricket, Swim Squad, Triathlon training, numerous choirs and orchestras, Theatre Club. Film Club. Chess, Art Club, Design and Technology Workshops, Skiing and Outdoor Learning. There continue to be many opportunities for pupils to have posltions of responsibility. Irom Pre Prep pupils sitting on the Pre Prep Council, to Senior Prefects and Heads of School, being an IT Ambassador, a Wellbeing Ambassador and many other posilions In between. This year, pupils were able to put themselves forward to be Pupll Ambassadors. taking on various leadership and support roles during the School day. Pupils have set up Ihair own initiatives too, including several pupil-led Rock Bands, a pupil led IT Support Group and an Eco Team which is now represented by all Year Groups from Reception lo Year 8. Trlps and R8sld•ntlals In addition to academic and sports competitions and fixtures, there have been Irips this year to Windsor Castle, The Living Rainfofesl, Worfd War11 experience days, museums, galleries. theatres and visits lo events hosted al partnership leading senior schools. Year 5 and Year 7 took part In several loam building activity days, Year 5 had residential to Devon, Year 4 had a resldentlal lo an Actlvlty Centre. Year 6 went camping in the New Forest, Year 7 had a trip to France in September and then participated in a Trips and Activities Week closer to hom8 in the Summer Term. Year 8 scholars had an immersivè experience in Bath. and then the whole of Year 8 travelled lo Italy as part of their Leavers. Programme. There were a150 three trips that took plac8 in th8 Easler Holiday., a Football Tour to ValenGia, Skiing in the Alps, and a very exciting visit to Iceland. These experien8 have not only encouraged pupils to step out of their comfort zones but have been paramount in equipping each and every child even more. giving them the 'feathers' for the next stage of their educational journey, and indeed life beyond. Page 10
LAMBROOK SCHOOL TRUST LIMITED IA company Ilmlted by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Th• Envlronment Looking after the environment is a priority lor Lambrook and takes a whole School approach, with staff. pupils and the Eco Team. working together on many Initiatives around the School. These have included, planting more trees in the School grounds, looking at renewable energy sources, p1acing all lights wilh LED, growing fruit and vegolabl88. reducing food waste and supportlng the wildli18 wllhln the grounds. Members of Ihe Eco Team were able to meet with a representative al COP27 and were given Ihg opportunity to have a 'Tearns' tour of the Conference, as well as being able to ask plenly of insightful questions. The Lambrook Orchard, home to b8es, chickens, rabbits, goats and lambs, provides the fitting settlng for each pupil lo hav8 an Outdoor Learning Lesson, and this year, pupils have all been involved In the planting, malntalnlng and eating of Ihelr vegetables. Lambrook's annual 'Apple Day, included all pupils across the School with the older children leaching the younger ones all aboul apples. Iheir varieties and the Lambrook Orchard in genèral. The older children pressed their very own apple juieé and shared this and their acquired knowledge with the rest of th8 School. There is glways an apple themed snack and lunch on the day loo. made from Lambrook apples and eggs from its hens. The 8ees have been a fantastlc lool lor leamlng more about the environment. Charlly Lambrook pupils have remained committed to being ouhvard looking and supportive of otheTS. Over the past year, the School ha8 SLJPPOrted many charities bolh pr8CtI¢8lly and fin8nclally. Some ol tha charilies Supported Indude.. Hope Valley Farm School, Children In Need, Child Bereavement UK. a homeless charlly based in London. Morocco Earthquake and Libya Flood appeals {Brilish Red Cross), Place2Be, Macmillan Cancer Support. Jeans for FOP, Restless Development, The Children's Society. Royal 8ritish Legion Poppy Appeal, Dravet Syndrome UK, The L8mbrook Foundation, Woodland Trust, WWF. Dais$ Dream. Care for Calals, Windsor 8nd Bracknell Food Banks. First Days and Bracknell Ukraine C•nlfe. Fundralsing highlights during the year included a Colour Run for Macmillan Cancer Support. raising thousands of pounds for a new outdoor shelter in the 'Raising ihe Roof, campaign for Lambrook's Partnership Intemalional School, Lambrook's own '12 Days of Givlng, Advent Calendar and in additlon, each House in the Prep School choosing and fundraising for a specific charlty Alhlone, Camp Mohawk, Go¢>Jhart, Rosi8's Rainbow Fund, Dewar, Tham•s Valley Adventure Playground and Alexander, JORF (a Diabetes Charity). The Lambrook Foundatlon and So¢l•l Impa¢t Piogramme The impact that the Lambrook Foundation has hacl has been transfomational, for the puplls who have baen able lo altend Lambrook on full bursaries, for the charilies il has been able to support, both practically and flnanclally, for the support towards Lambrook's partner schools, bolh locally and internationally, and for the development and strengthening of resources at the School. Parents have raised a significant amount for The Lambrook Foundation, through attending events, taking part in a Padel Toumament, a 24 hour swim and even cycling from Lambrook lo Paris in just three days. Admisslons Lambrook 15 extremely gfaleful for the continued inter8St in the School and (>Jntinues to receive a large number of enquiries and registrations. The Headmaster and his wife, along wlth Senior Staff meet many prospective families each week for individual appointments and interviews. The School's Registrar lakes each family on a bespoke lour of th8 School sile. During the past year. the School has held assessment days for its prospective incoming chIldn (bespoke mornings for entry at ReptIOn, Year 3, Year 4 and Year 7) as well as a 'moving up moming, for all of its new starters. which was part of a whole School move up momlng for Current pupils too. Page11
LAMBROOK SCHOOL TRUST LIMITED (A ¢ompany Ilmlted by guarantse GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 The School benefits from a strong word of mouth culture from both inside and outside Lambrook. Pupil numbers for Michaelmas Term 2024 sland at around 630, of which 99 are new jolners. Of the 99 joiners, 32 are completely new to th8 School, the remainder are slblings, chlldren of Ajumni. staff children or couslns of current pupils. There will be 53Y• boys and 47°h girls, creating a truly a co-educational environment. The SGhool ¢onlinuès to r8ceiv& many posilive reviews and accolades from publications including Tallér, Talk Education. Muddy Sli18ttos and The Good Schools Guide. Alumnl The School values ils Old Lambrookian Community and as well as sending out a termly newsletter, with updates of all things Lambrook, il offers several opportunities to com8 back and visit the School and to meet wllh fellow former pupils. In the Michaelm88 Terrn Lambrook held the first of ils 10 Year Annlvers8ry events whlch will now take place each October moving forward. It was a very happy evening in a London venue wilh former puplls delighted meet up with each olher and with staff members loo. Larnbrook hosted an Aumni Lunch in the Lent Term for Old Lambrookians of all ages Iposl senior school age). Senior Pupils toured the visitors before the lunch and had the chance to connect with old land some 8von oldarll Old Lambrookians. In the Summer Term, over 200 former pupils and families (from thè last 5 years) came to Lambrook for an Alumni event. The afternoon involved a Cricket match and, of course. a famous Lambrook match tea. The School also has welcomed back formér pupils for tours and several recently relumed lo speak to Year 8 pupils as part ol thelr leavers. programme. Lambrook's School Archivist has a wealth of Infomiation about the Scht)ol and shares Ihls wllh the School community, Old L8mbrooklans who visit the School and those who write in lo Lambrook. Tralnlng Senior Leadership Toam members have pul together a programme for those considering a step into Senior Leadership Aspiring Leaders Course. 15 colleagues signed up for the programme (from l)oth Pre Prep and Pfèp), which will last approximately a year. Lambrook Parènt T•a¢hor Commltt•• (LPTC) The School is proud of its relationship wlth its parents and has a thriving community. The Lambrook Parent Teach8r Committee (LPTC) helps lo run both social and fundraising events. 11 meets formally lermly. with appoinled posilions and key Lambrook slaff rnember5 present. Charltable Object• The charitable objective of the School is the provision of education for children. The Governors, who are also Trustees. regularly monitor the School's performance and carefully and regularfy consider if it meets its oblectlves. The Governors, role is voluntary, and no Governor recelves any remuneration. The annual surplus is not distribulable and Is reinvested in the infrastructure of the School. Fundraising Lambrook's Fundraising Policy requires Ihe highest standards of fundraising and follows the Institute of Fund Raising's Code of Practice, driven by Ihe principles of Fairness. Indusiveness and Accountability, and compli8S with the Charities Act 2011, Ihe Oala Proleclion Act 1998 and the General Dala Prolectlon Regulations 2018. During the last academic year. there have been no complaints about Ihe Sch1.5 fundraising adivilies and the SGhool does not maka pèrsistant approaches lo potential donor5. Page 12
LAM8ROOK SCHOOL TRUST LIMITED (A company Ilmltod by guarant¢•) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 The School's Lambrook Foundation fomalises the giving lo Lambrook in the areas of bursary provision. schools. partnership (bolh locally and internabonally) and charity inits'atives. The School is extremely fortunate to have strong support from donors. who are mainly Current or fomer parents. These donors c(4lectively give towards Ihe work of Th8 Foundalion. financially and also through the sharing of resources and the giving of professional expertlse, all which b8n81it current and futuro pupils and our partnership schools both locally and intemationally. Th8 School does not use the services of professional fundraisers, rather, using its own inlamal resources to raise funds and lo make the Lambrook Community aware of its strategy. The Lambrook Foundatlon strives to make a difference in the lives of the pupi15 who are educated at Lambrook. and children further afield. so that these children then go on lo mak8 a difference in Ihe lives of others, both now and in the luturé. Lambrook aims lo raise belween £400 - £SOOk each year towards these transforfflolional opportunities for both Its pupi15 and the wider communlly through.. Providing Iransfonnational bursaries Partnering with s¢ht)ols locally Partnering with a school internationally Supporting local, natlonal and intemallonal charities Bursarhs Thls academlc year, Lambrook hAS been able lo provlde transformatlonal bursarles for 20 plus staff puplls. All bursaries are means tested by an exlemal agent. Royal Springboard Full 8ufsaries Lambrook is delighted that it has formal links wlth th8 Royal Natlonal Chlldren's Sprlngboard Foundallon and through them, polenllal Year 7 pupll candldates are Identified - these children are the children who would embrace all on offer at Lambrook and would truly flourish al the School. Typically. a bursary will indude uniform. transpcirt, clubs arKI trips. General Bursarles - Lambrook aims to offer bursarles lo those who would truly makg the most of the Lambrook experience. but who would not be able lo pay full school fees. Partnorlng wlth S¢hool8 Locally The S¢hool places a strong emphasls on partnering wlth local siale schools. Over the past year. Lambrook has enjoyed partnershlp days with around 60 local schools in subject area5 including Maths, Music. STEAM, Geography, Sport, Languages, Science and Humanities. Lambrook pupils are also involved in these days. 11 has also been great to welcome partnership schools to èvents held at Lambrook including a History 'Waterloo Remodelled, event and a Children's Mental Health Workshop. In addition.. L8mbrook currently provides swimmlng lessons to two local prlmary schools. Several m8mbers of Lambrook staff are Governors al its partnership schools. Lambrook staff offer specifiG lessons and training courses throughout the year. Lambrook continues to $hargldonate resources such as IT equlpment, books and furnlture, Following a bereavement of a Year 2 pupll at thelr school, Lambrook is offering iherapy dog sesslons for some of their pupils. Page 13
LAMBROOK SCHOOL TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Partnerlng wlth School$ Int•rnallon•lly Lambrook has partnered wSth Hope Valley Farm School in South Afrlca for several year5. Following the success raising fvnds for a loilet block and most recently, provldlng a brand new minibus for the school, Lambrook raised funds for an outdoor shelter. Hope Valley Farm School has a few classrooms, but when they have assemblies or larger lessons. they need lo meet outside. Alhough the weather is signifi¢anlly more reliable than th8 UK, when il does rain. the children are unable to gather together and have lessons in one area. An outdoor shelter wlll enable the children lo meet together. but also opens up possibilities to play sport indoor5 and to have a covered perfomiance space. A Year 8 Tutor Group took part In a 'llnk up. scheme wlth the same aged Year Group in Hope Valley. Followng Ihls pilot. we hope lo extend this lo oiher Year Groups throughout Ihe School. PublSc Beneflt The Lambrook Foundation, Schools. Partnership and Schools, Benefit Lambrook contlnues to èxpand and promote The Lambrook Foundalion, Through Ihe Lambrook Foundation, Ihe School provides a number of bursaries which are awarded to children who would not otheIse be able lo access the School bul truly benefit from all that Lambrook has to offer. The value of the bursarles and allowance5 offered In 202>2024 was £545K. In addition. Lambrook 15 delighted to have strong formal Ilnks with the organisallon Royal National Chlldren, Springboard Foundallon. During th8 Summer Terrn, Lambrook provided Iree swimmlng lessons for two local Prlmary Schools. Lambrook has strong links with many of its Partnership Schools in ils local area. During the past academic year, Lambrook hag hosted many partnershlp events benefltllng over 60 local stale schools (see above). Sharlng Fac1111108, R•sources and Exp¢rtl•• In parallel wilh lis educational partn8rships. Lambrook provides public benefit lo its surrounding community.. Various items of sports equipment has b88n donated lo local partnership schools. A large number of library and resource books have been donaled to some of these partnership schools. Items of lurnlture and IT equipment were donated lo several local schools. Lambrook continues to be a designated refuge for a neighbouring school. with the Sports Hall being made available 8$ Its evacu81ion venue for disasler recovery practices.11 also offers its car parking space for their larger events. Several members of staff al Lambrook currently serve as Governors for other s¢h¢Jols. holding responsibility in specific roles and providing additlonal academlc expert15e. Lambrook staff members visit local schools to offer specialised lessons and to give talks and assemblies. The ongoing drama partnetship with one local schod assists in the provision of technical equipment for its productiong. Lambrook includes olher schools and individual pupils in ils Performing Arts extemal examination schedules. The Lambrook Kitchen donates food to thé Phyllis Tuckwell Hospice Care Home. Lambrook's Performing Arts Cenlre auditorium has been used by $8veral groups and organisations, induding a Community Choir 8nd a Choral Society. One of the Lower School Choirs went to sing for local elderly resldents al Christmas tlme. The Lambrook Senior Chapel Choir regularly use their talents for the benefit of olhers. visiting and perfomiing for communities and local care homes, including an International Nurses, Day seNice held al Ascot Priory. Page 14
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlted by guarante8) GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 A Performing Arts Slaff member runs a local community choir fundraising events for local schools, involving Lambrook pupils too. Lambrook has links with a local Care Home and sends pupils to visil ils residants each week. It a160 facilitates pupils writing to the residents and creating arl for Iheir communal spaces. The Sports Hall and plawng fields are regularly used by the England Visually Impairéd Cricket Team, thè plaw'ng fiélds are used by Berkshire County Cricket, the Golf Course hosts the Berkshire Girls. Beginners. and Iwo local netball clubs hold matches on the Aslroturf and Hard Courts; a member of staff also off8rs her services as a coach. The School provides use of L8mbrook mlnibuses for several Ioc81 or9anisations and local schools, enabllng thern to get to sports fixtures, competitions and trips. Local resldenls and groups are regularly Invited to Ihe School for various occasions, including drSnks receptions, talk5, art exhibillons and music concerts. A member of Lambrook slaff conlinues to deputsse lor the Vic8r and thè Lay Minister of the 8eneflce at HaNest, Remembrance, Christmas and Passionlide seNices in the local Parish Church. Fundrai•lng and Charlty Inltlatlv•• Over thè course of Ihe year, there have beèn many fundraising events for The Lambrook Foundation and th8 areas that il supports: 'An Evening Wilh. events for parents 8nd the wider community Christmas Fair run by the LPTC (Lambrook Parent Teacher Commlltee) Pant and Teacher Quiz Ladies. Lunch. hosted in London Lambrook to Paris Bike Ride (undert8ken by 65 parents and staff) Padel Tournament for parents and staff 24 Hour Swlm for pupils, parents and staff (undertaken by every pupll and many parents and staff) House Charity Fundraising Days (organiséd by pupils) Year 8 Charity Fundraising Day In additlon.. Thousands of pounds have been raised for Hope Valley Farm School, for a minibus and lowards the building of an outdoor shelter for the school. Pupils and parents took part In many fundraislng events to meet the Ilnancial targel. The Lambrook Community Collecled and donated clothing and practical items for the BraGknell Ukraine C8nlre. The School sent clothing to Care for Calals - a volunteerqun refugee charity worklng wllh refugees In France and 8elglum. The School Communlty fundraised for Ihe Turkey and Syria Earthquake Disaster Appeal. Lambrook families regularly donated lood and hygiene items to bolh Wlndsor and Bracknell Foodshare. Pupils also went lo the food bank warehouses lo help sort the ilems. Families donated, packed and wrapped over 300 Christmas boxes for First Days to give to children. packed with fvn toys and games as well as practi¢al items such es hals and gloves. These families would othep4vise have had no Christmas presents. Families donated special care packs for users of the Windsor Baby Bank. One particular highlight for the children was the opportunity to fundraise for Macmillan Cancer Support by taking part In a colour run, where collectlvely, over £7k was ralsed. Prep School pupils also took part in Ihe School Triathlon Series supporting The Restless Development Organisation. As a result of the generosity of parents the School also received £7k. Page 15
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmited by guarantee) GOVERNORS. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 A group of pupils ran 2k every day in May, raising funds for Dravet Syndrome UK. Lambrook created its own .12 Days of Giving. Advent Calendar where Lambrook families were able to support others and the environment, each day of Advent. From th8 donating of books for Oxfam and Book Aid to glving old Chrlstmas Jumpers lo local charlly, Dalsy's Dream, there were plenty ol opportunitles for all of the community to g81 involved. Each of th8 Ir Houses in the Prep School chose thelr own charity to support with pupils 18$ked in coming up with their own fundraising ideas over the year for the foll¢)wing Gharities: Déwar.. Thamés Vall8y AAlv8nture Playground Alhlone.. Camp Mohawk Goodhart., Rosie's Rainbow Fund exander.. JDRF (a Diabetes Charllyl This year, the School, 10gelher with significant fundraising efforts Irom the L8mbrook Parent Teacher Commlttee, has ralsed In excess of E70K to financially support the following charities.. Hope Valley Farm School Thames Valley Adventure Playground Camp Mohawk Goodhart.. Rosie's Ralnbow Fund Aexander.. JDRF la Dlabetes Charlly) DEC - Turkey and Syria Earthquake appeal Macmillan Cancèr Support Jeans for FOP Restless Dev81opmonl Royal Brflish Legion Poppy Appeal Dravet Syndrome UK Place2Be Icanandlam 11 hag also been able to provide praclical support to the followlng chariliè$'. Dasrfs Dream Care for Calals Windsor and Bracknell Food Banks First Days Bracknell Ukralne Centre Homeless Sheller in London Windsor 8aby Bank Ascot Prlory and International Nurses Windsor Probus Page 16
LAMBROOK SCHOOL TRUST LIMITED {A company limlted by guarantee) GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Future Plans These arè challenging limes lor th8 Independent sector, with the Government's decision to impose VAT on school fees and the added burden of business rates. and the School is rn1ndft of the burden that thls will have upon our parent community both h8r8 and in their futura sehools. Larnbfook remains committed lo being financially robust and strategically wise and dynarnic enough to joum8y through the challenges Ihat may well face the School, ulllmately, providing the most enriching experlence for all Its pupils - equipping and preparing each and every child for both now and the fvlure. Lambrook Is detemilned to Invest further In Our provlslon for our pupils and are in the process of preparlng a new Ma51erplan for the school. Fundraising for any building projec15 will begln in eamest over the coming months, in addition lo the development of an endowment with the intenllon of slr8ngihening our financial Credibility further. Lambrook Is c4Jmmltl8d to investlng In Ihe followlng areas., People Providing the highest standard of education for pupils remains the primary focus for the School and it is essential that Lambrook conllnues to Invest In Its pupils, staff. parent support and r8sources. Lambrook will conlinue lo Invest In employing Ihe highest callbre of Insplring and talgnlod a¢ademl¢ $laff. It 11 also empower its enllre staff body, enabling Ihom collectively to support the school as It saeks to bèst support and nurture ils pupils. Currlculum Ensurlng that èvéry pupll r88ch8s Ihéir 8e8dèmic polents'al, enabling puplls lo reach the most outstanding sènlor schools, thrtving al Prep School and beyond. Co-currlcular Lambrook Is koen that Ils puplls thriv? both inside and outslde of the classroom. A contlnually expanding and developing Co-curricular enrichment programme will offer even more opportunitiès lo pupils in the areas of Sport. Performing Arts, the Creative Arts. Clubs and Enrfchment, Trlp¥. Vislts and R8sldentia15. Giving to Olhers and Sustainability. Pastoral Care Pupil wellbeing and happiness wlll rna1n a priority lor Lambrook. T.he School wlll continue lo develop the partnershlp between home and school. Kindness remains, and will remain, a core value of the School as it tèaches pupils to be oulward-looking and kind towards all they encounler. Facllltl•8 Striving to protect th8 longevity of the School, looking after and developing the School sile, as appropriate. Othtrs Lambrook is keen lo remain ouiward-looking in 11$ approach and will s88k lo promote and expand The Lambrook Foundation. through bursary provision and the partnership it has with local schools, international schools and many charities. Lambrook will strive to develop this even furlher next year. Page 17
LAMBROOK SCHOOL TRUST LIMITED (A company limlted by guarantee) GOVERNORS. REPORT (CONTINUED FOR THE YEAR ENDED 31 JULY 2024 The Senior Leadership Team and Ihe Governors are confident that Lambrook will continue to be a dynamic, efficient. exciting and cohesive School. Flnanclal R•vl•w The unréslricled opèrating surplus for the yèar bèforè depreciation and donations to the Lambrook Foundation was £2,585,633 an increase 01 £235,817 the previous year. Oonations recelved during Ihe year lo 31 July 2024 amounted lo £376,173 (2023.. £442,347J resulting in a net surplus after depre¢ialion for the year of £2.070,210 (2023.. £2, 109,471). The operational efficiency of the School is regulafly monitored throughout the year by the Finance and General Purposes Commlttee lo ensure that maxlmum resourcos are allocated lo the èducallon of the children. The School achieves its liquidity objectives by the careful management ol working ¢apital and regular forecasting of short and long-lerm cash requirements. The School's cost base predominantly comprisas staff costs, although there is exposure to incr8as8s in utility and rnlal8d bulldSng operational costs. The School's exposure to credil risk is mitlgated by fees b8ing due al the be9inning of each term. Res¢rve$ Pollcy On 31 July 2024, the School's unreslricted lunds wer8 £23,320.390 (2023.. £21.279,081). Afler deducting the carrylng valu8 of langiblo fixed assels held for the School's own us8 and adjusled for borrowlng Ihere were reserves as defined by the Charily Commission of £4,300,763 (2023.. £4,248,883). The School's reserves policy is to malnlain its unrestrlcled reserves al a lev81 that will allow the School sufflclent liquidity for normal operations. The policy is to build up free reserves through annual surpluses over the nexl two years in ord8r lo fund the conllnued investm8nt in L8mbrook's Infrastruclure. Al 31 July 2024, taking account of luture cash flows, thè Govemors consider that reseNes are sufficient. The School continues lo generate further funds for improvements lo thè fabric of the buildings and funds are reviewed on a regular basis. Having assessed the School's financial position. its plans for the forese8able future, the risks lo which il is exposed and the detailed cash projections, the Govemors are satisfied Ihal Ihe School is flnanclally robust. Reference and Administratlv• Informatlon Lambrook School Trust Limited is a company limited by guarantee without a share capitsl. having Iwo members. each of whom guarantees lo pay £1 in the event of the company's liquidation. The company number is 898539 and the charlty number is 309098. On the 31 July 2009 Lambrook Hailoybury School Trust Limited and the Imperial Service Endowmerbt lerminaled their 1997 8malgamation agreement by mutual con8ent.Following the separation from the Imperial Sernlce Endowment, Lambrook Haileybury School Trust Limited changed ils name to Lambrook School Trust Limited. To reflect the significant investment in Ihe School made by the Imperial Servlce Endowment durlng the perlod of the amalgamalion, the Separation Agreement dated 31 July 2009 provtded for the amendment of clause 7 of the Memorandum of Association of Lambrook to read as follows.. Page 18
LAMBROOK SCHOOL TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 If upon the wlndintrup or dissdution of Lambrook there remains, after the satisfaction of all debts and liabilities, ar)y property whatsoever, the same shall not be paid Of distributed among the members of Lambrook. bul shall be gIV8n or Iran$ferred to the lrnperial SeNce Endowment (Charity No. 310013-23) I'ISE") provided that, al the date of such w1ndingp or dlssolutlon ISE is a charity wlth edu¢alional objects and,11 and so lar as effect cannot ba givèn to such provision. thon to some other charitable object. Govornlng Document The company is govemed by its Mémorandum 8nd Articles ol A8sociallon. Governlng Body The Governors are all Dlr8Ctors of Lambrook School Trust Llmlted. Those vtho held offlce durlng the year ar• Ilsted on page 1. Governors are appolnted by the Board either to fill a casual vacancy or to provlde additional expertise. Each Governor is elected for three years and retiring Governors are able lo stand for rtreleclion at the Annual General Meeting. Governors will not remain in position for more than Ihroo tarms other than in exceptional circumstances. Governance Lambrook the Charity Commission's Code of Govemance. utilising the Code's guidalines and prlnclples to en8ure the highesl standards of Governance ale maintained. The effectiveness of the School's Govemance Is monitored by Ihe Govemance and Nomlnallons Committee which meets once per term. R•erultm•nt and Tralnlng of Govarnors PotenlSal Governors ere Idenlified by members ol the Governing Body lo bring a breadth of skills to the Board. Once elected they receive an indudlon day at the School led by the Chalr and Headmaster wilh talks given by all Ihe members of the School's Senior Leadership Team (SLTI to provide an insight to the running of Ihe School. Training courses are regularfy offered to the Govemors, particularfy whère a Governor has bean selected to address a particular area, e.g. chlld proteclion Issues. Organisational Management The members of the Governing Body are legally responslble for the overall managemenl and control ol the School and meet once a lem. To assist in the performance of their role the Board delegates some of Its workload to the Commiltees detailed on page 1. All of the Committees meet once per term. The day to day running of the School is delegated to the Headmaster who is assisted by the SLT. The Headmaster, Director of Finance and The Bursar attend meetings of the Governing Body and ils Comrnittees. The remuneratlon of key management personnel is set by the Board, with the policy objective of providing appropnate incentives lo encourage enhancéd performance and of rewarding them fairly and responslbly for their individual contributions lo the School's success. The appropriateness and relevance of Ihe remuneration policy 1$ reviewed 8nnually. including reference to comparisons with other Independent Schools lo ensure that the School remains sensitive lo the bfoader Issues of pay and emplownent conditions elsewhefe. Page 19
LAMBROOK SCHOOL TRUST LIMITEO (A company Ilmltod by guarantee) GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Group Struetur• •nd rolatlon8hlp8 The Company has a wholly owned subsidiary. Lambrook Sports and Leisure Club Limited (LSLCL). The School is a rnember of Ihe following organisations: The Incorporated Association of Preparatory Schools The Association of Governing Bodies of Independent Schools The Boarding Schools. Association The Independent Schools, Bursars Association Th8 School alms lo achleve the highe818landards in the Indep8rrtl•nl Educallon sector by establishing Ilnks with other Schools, a rigorous appraisal system and the encouragement of good practice. The School supports many local and national charities whlch 8s51sts In developlng puplls. awareness of their wider social responsibilities. Prln¢lpal AGtlvlty The principal actlvily of the School is the provision of education for boarding and day pupils. boys and girfs beeen the ages of 3 and 13. The School educated 630 puplls durlng ihe academlc ar of 2023-20241620 in 2022-2023). R18k Manag•m•nl The Board is responsible for ensuring that there 15 8 proper system in place to identify signifirAnl risks faced by the School and Ihat these rlsks are belng appropriately millgated. This responslbllily IS P8rt of the terms of reference of thè Finance and General Purposes Committee. Management of rlsk is delegated to lh8 SLT withtn this framework. Risks are analysed under Ihe four headings of Strategic. Operational, Financial and Compliance and through established systems of internal controls risks are managed to minimise Ihe potenlial impact on the School. The Risk Regisler is kept under constant r8Vi8w, updated by the SLT and monitored annually by the Flnance and General Purposes Committoe as a standing item at the Summer term meeting. Risks idenrIed by th8 SucommItt88S of the Board during the course of the year ar8 added to the Reglster as they arisa and appropriate safeguards introduced to minimi$e the likelihood of occurrence. Prlnclpal Rlsks and Un¢ertalntles The principal risks Identified include the following.. Reputation Management Successlon Health and Safety Systems of Flnancial Control Data Protectlon A detailed review of all idenlffied risks has been performed and the required actions lo mitlgale these risks have been implemented. In the opinion of the Govemors, Ihe School has established system8 of intem81 controls and other safeguards, including insuran, which under normal circumstancés all¢)w risks to be managed at an acceptable level. Page 20
LAMBROOK SCHOOL TRUST LIMITED (A Company Ilmlt•d by guarantsel GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Provlslon of Infomiatlon to Audltors Each of the persons who are Govemors acting at the Ilme when thls Govemor8' R8POrt Is approved has onfirmed Ihat.. so far as that Governor is aware, there is no relevant audit infomialion of which the company's auditors are unaware, and that Governor has taken all the sleps that ought to have been lak8n as a Govemor In order to be aware of any information needed by the Schod's auditors in connection wilh preparlng their report and to eslablish that the School's auditors are aware of that information Audltor• In accordance with Section 485 of the Companies Act 2006, a resolution proposing the re-appointment of Crowe U.K. LLP as auditors lo Ihe company will be pul to the Annual General Meeting. Approved by order ol the members of the Board of Govemors and signed on their bèhalf by: Mr B Chukwuomeka (Chair of the Finance and General Purposes Commllteel Oate: 28 Novemb8r 2024 Page 21
LAMBROOK SCHOOL TRUST LIMITED IA company limilad by guarantaal STATEMENT OF GOVERNORS. RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2024 The Govemors (who are also the directors of the company for the purposes of company law} afe responsible for preparing the Governors. report including the Slrategic report and Ihe financial statements in accordance with appllcable law and Uniled Kln9dom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice)- Company law requires the Governors to prepare financial statemenls for each financSal ar. Under company law, the Govemors must not approve the financlal slalements unless they are satisfied that they give a true and fair view of the state of affairs ol the company and of ils incoming resoufces and application of resouic8s, induding 11$ income and expenditure, for that period. In preparing these financial stalemenls, the Governors are required to.. select suitable accounting policiè$ and thèn apply them consistently,. observe Ihe methods and principles of the Charill8s SORP {FRS 102): make judgrnenls and accounting estimates that are aSonable and pnjdenl., state whether applicable UK Accounting St8ndards (FRS 102) have been followed, sublect to any maledal departures disclosed and explalned in the financial slatèm8nts', prepare the financial statements on the 90ing concern basis unless il Is inapproprlate lo presum8 that the company will continue in business. The Govemors are responsible for keeping adequate accounting records that are sufficient to show and explain the companvs transacllons and dlsclosè wllh reasonable 8ccura¢y al any lime the financial position of the company and enable them to ensure that the financial statements comply wllh the Companies Act 2006. Thoy are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the Board ol Governors and signed on its behalf by: Mr B Chukwuemeka (Chalr of the Flnance and General Purposes Com11te8) Dale.. 28 November 2024 Page 22
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlled by guaranto•) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LAMBROOK SCHOOL TRUST UMITED Oplnlon We have audited the financial statements ol Lambrook School Twst Limited (the 'charitable companV> for the year ended 31 July 2024 which comprise the Staternent of financial activilies, Ihe Balance sheet, the Statement ol cash Ilows and the related notes, including a summary of significant accounting policles. The flnanclal reporting framework thal has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Slandard applicabl8 in the UK and Rapublic of Ireland, (United Kingdom Generally Accepted Accounting Practice), In our oplnion the financlal statemenls..: give a true and fair view of the slate of the Charitable companys affairs as at 31 July 2024 and of its Incoming resources and appllcalion of resources, including its Income and 8xpenditure for the year then ended: have been properly prepared in accordance wlth United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance wth the requirements of the Companies Act 2006. Bas18 for oplnlon We conducted our audit in accordance with International Standards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsibilities under Ihose standards are further described in the Auditorfs responsibilities for the audit ol the flnanclal statements section ol our report, We are Independent of the charitable cornpany In accordance with the ethical requirements Ihal are relevant to our audit of the financlal statements in the Unlled Kingdom, including the Financlal Reporting Council's Elhical Standard. and we have fulfilled our other ethlcal responslblllties in accordance with these requlremenls. We believe that the audit evidence we have obtained is sufficient and appropiiate to provide a basis for our opinion. Concluslons rolatlng to golng conc•rn In auditing the financial statements. we hav8 concluded that the Governors. use of the going concern basis of accounting In Ihe preparation of the flnancial statements is appropriate. Based on Ihe work we have perfomed. we have not identified any material uncertaintles relating lo events or onditions thal, individually or collectively. may cast significant doubl on the charitable companrfs ability lo continue as a going concern for a period of at least twelve months from when the financial slat8menls are aulhori8ed for Issue. Our responsibilities and the responsibilities of the Governors with respect Éo going concern are described in the relevant sections of this reporL Page 23
LAMBROOK SCHOOL TRUST LIMITED {A company Ilmlted by guarantee} INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LAM8ROOK SCHOOL TRUST LIMITED (CONTINUED) Othor Informatlon The other information comprises the information included in the Annual pOrt other than the financial statements and our Auditorts report Ihereon. The Govemors are responsible for the other information contained within the Annual report. Our ¢¥inion on the financial statements does not cover the other information and. except to the extent oth•rwise explicitly slated in our report, we do not express any form of assurance concluslon Iher8on. Our responsibility is to read the other informalion and, in doing so. conslder whether the other information is materially incongistent with the financial statèments or our knowledge obtained in thè cours8 of the audit, or othernvlse appears to be materially misslated. If we identity such m8terial InconslstenGles or apparent material misstatements, we are qUired lo detemiine whether this gives rise to a material misstatèment in the financial statements themselves. 11, based on the Vrk we have perforyned, we conclude that there is a material mlsslalement of this other Inlormatlon, we are qUIred lo report Ihat fact. We have nolhlng to report In this regard. Oplnlon on othor malter8 pr•$cribed by th• Companles Acl 2006 In our oplnion, based on the work undertaken in the course of the audit.. the information given in the Governors, report includlng the Strategic report lor the financial year for which the financial $lalements are prepared is consistent with the financial slatemenls. Ihe Govemors, rèport and the Strategic report have b8•n prepared in accordance wlth appllcable legal requirem8nls. Matters on which w¢ ore requlred to report by exception In lh8 light of our knowledge and understandlng ol the charitablé company and Its envlronmenl obtained In the coutse of the audit, we have nol identified material misstatements in the Governors, report including the Strategic report. We hav8 nothing to report In respect of the following matters in lation lo which Companies Act 2006 requires us to report to you If. In our oplnlon.. adequate aecounting records have not been kept, or relums adequatè lor our audit have not been received from branches not vi8lted by us,. or the financial slatements are not in agr8ement with the accounting records and returns., or certain disclosures of Governors, rernuneration specified by law are not made,. or we have not received 811 the information and explanations we require for our audit. Résponslbllltles of trusteès As explained more fully in the Governors, responsibilities statement, the Govemoryd (who are also the dlrèctor8 of the charitable company for the purposes of company lawl are spOnsible for the prepardtion of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Governors delermine Is necessary lo gnable the preparatlon of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Govemors are responsible for assessing the charitsble companvs ability lo continue as a going concem. disdosing, as applicable, matters related lo going concem and using the going concern basis of accounting unles5 the Governors either int8nd to liquidate the charitable company or to cease operatlons, or have no realistic alternalive but to do so. Page 24
LAMBROOK SCHOOL TRUST LIMITED (A company limited by guaranlee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LAMBROOK SCHOOL TRUST LIMITED (CONTINUED) Auditor's fesponsibilities for the audlt of tho financlal statements Our oblectives are lo obtain re8$onable assurance aboul ¥*thelher the financlal statements as a whole are free from material misstalement, whether due lo fraud or error. and lo issue an Auditorfs report that indudes our opinion. Reasonable assurance is a high levèl of assufance. but Is not a guarant08 that an audit conducted in accordanc8 wilh ISAS (UK) will always detecl a material misstalemenl when it exists. Misslatements can arise from fraud or error and are consldered mat8rial if, individually or in the aggregale, they could reasonably be expected to Influence the economlc declsions of users taken on Ihe basis of these financial slaloments, Extent to which the audit was consldorod ¢apable of detecting irregularilies, Includlng fraud Irregularities, Including fraud, are instances ol non-compliance with laws and regulations, We idenisfied and 8ssess8d th8 risks of material misstatement ol Ihe financial slalemenls from Irregularities, whether due to Iraud or error, and discussed these between our audit team members. We then designed and performed audit procedures respon51ve to those risks. including obtaining audit evldence sufficient and appropriate to Provlde a basis for our opinion. We obtained an understandlng of the legal and regulatory Irameworks wlthin which the charilable company operates, focusing on those laws and regulations that have a dlrecl effect on the determination of material amounts and disclosures in Ihe financial statements. The laws and regulation5 we considered in this context were the Companies Act 2006. Charitles Act togelher wilh the Charities SORP IFRS 102). We assessed the requlred cornpliance wilh these laws and regulallons as part of our audit pro¢edurès on th8 related financial slalemenl items. In addillon, we considered provisions of other laws and regulations that do not have a dlrèct effect on Ihe financial statements but compliancè with which might be fundamental to the charilable companys ability to operate or lo avold a maler5al penalty. We alx• consSdered the opportunllies and incenlives that may exist within the charltable company lor fraud. The laws and regulations we consldered In Ihls context Were The Education (Independanl School Standards) Regulations 2014, Health and Safety, General Data Protection Regulations, Saleguarding and Food Standards. Auditing standards limil th8 required audit procedures to Identify non- compliance with these laws and regulations lo enquiry of the Governors and other management and Inspection of regulatory and legal correspondence, If any. We identified the greatest risk of materlal impact on the financial statements from irregularSlles, including fraud, lo be within the timing of recognition of certain income slreams. and the override of controls by management. Our audit procedures to respond to these risks induded enquiries of managemenl, and the Finance and General Purposes Commillee about their own idenllfication and assessment of the risks of irrègularities, sample tesling on the posting of joumals, sample t8sling on income, reviewing ac(xJunting eslimales for biases. reviewing regulatory correspondence with the Charity Commission, IrKlependent Schools Inspe¢lorate, Ofsled and reading minutes of meetings of those charged with govemance. A further description of our responsibilities lor the audll of the financial statemen15 is located on the Financial Reporting Council's website al.. .www.frc..o .uklaudito'rsf8s onsibililies. This descriplion forms part of our Auditorfs report. Page 25
LAMBROOK SCHOOL TRUST LIMITED IA company Ilmited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LAMBROOK SCHOOL TRUST LIMITEO (CONTINUED) Use of our report This report is made solely lo the charitable companys members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitable company's members those matters we are required lo slate lo them in an Auditor's report and for no other purpose. To the lulle818xtenl permilled by law, we do not accept or assume responsibility to anyone other than the charitable company and its members. as a body, for our audit work, lor Ihis report. oi for the opinions we have formed. J•natl• Joyc• (Sonlor statutory audltor) for and on bèhalf of Crowe U,K. LLP Statutory Audltor R+ Building, 2 81agrave Street Reading 8erkshlre RG1 1AZ Dale.. 3 December 2024 Page 26
LAMBROOK SCHOOL TRUST LIMITED {A Company limlted by guar•nt••l STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024 Unrestrlctod funds 2024 Restrictod funds 2024 Total funds 2024 Total fvnds 2023 Nota Income from: Donations and grants Charitable activities.. School feés receivable Other income Other trading activities.. Other income Investrnents.. Bank interosl 347.272 28,901 376,173 442,347 13,643,989 2,151,729 13,643,989 2,151,729 12.554,555 2,091.989 50,267 50,267 44,409 320,642 320,642 181.617 Total Income 16,513,899 28,901 16,542,800 15,314,917 Expondlture on: Raising lunds.. Financing costs Charitsble actSvities 63,838 14,387,481 63.838 14,408,752 17,2T6 13.188.170 21,271 Tolal •xp•ndltur• 14.451,319 21,271 14,472,590 13.205,446 Net movement In funds 2,062,580 7,630 2,070,210 2,109,471 R•conGiliation of funds: Total funds brought forward Net movemgnt In funds 21,279,081 2,062,580 10.000 7,630 21,289,081 2.070,210 19,179,610 2.109,471 Tolal funds ¢arrled forward 23,341,661 17,630 23,359,291 21.289.081 The Staternenl of financial activilles includes all galns and losses recognised In the year. The nole5 on pages 30 to 53 fomi part of these financial ststement5. Page 27
LAMBROOK SCHOOL TRUST LIMITED (Acompany limlted by guarante•) REGISTERED NUMBER: 00898539 BALANCE SHEET AS AT 31 JULY 2024 2024 2023 Note Flxéd assèts Tangible assets Investments 13 14 19,677.627 17.712.698 19,677,628 17.712,699 Curr•nt a88•t• Stocks Debtors Cash at bank and in hand 15 16 4,171 1,046,768 12,658.234 754,231 7, 252,080 13,709,173 8,006.311 Creditors.. amounts lalling duè within one year 17 (5,352.4281 (3.380.404) N•t eUfr•nt a•••l• 8,3S6,745 4.625,907 Total assets lo•• curr•nt Ilabllltles 28,034,373 22,338,606 Credilors.. amounts lalling due after more than one year 18 14,675,082) (1,049.525) Total net a88eti 23.3S9,291 21,289,081 Charlty funds Restricted funds Unrestricted lunds (including revaluation reseNe} 21 17,630 10,000 21 23,341,661 21,279.081 Total lunds 23,3S9,291 21.289,087 The Governors acknowledge their responsibilities for complylng with Ihe requirements of the Act with respect to aGoounling records and preparation of financial slatemenls. The financial statements were approved and authorised lor Issue by the Governors on 28 November 2024 and signed on their behalf by. Mr B Chukwuemeka (Chair of the Finance and General Purposes Committee) The notes on pages 30 10 53 form part of these financial statements. Page 28
LAMBROOK SCHOOL TRUST LIMITED (A c(Mnpany Ilmit•d by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024 2024 2023 Note Ca6h flows from op•ralin9 4Ctlvltl•8 Net cash used in operating activities 23 3,312,942 2,554,836 Cash flows from Inv•$llng actlvllles Purchase of tangible fixed assets Loan interest paid Inter8s1 Income (2,751.7091 (1.039,992) (22.318) 181,617 320,642 Net eash used In Investlng acllvltie8 12,431,067) (880,693) Cash flows frorn Ilnanclng aetlvltlè• Repayrnents of ISE loan finance Repayments of bank loan finance Paym•nls on account Payments on account ulilised Recelpls Irom payrnents on account (24,500) (24,500) (896.514) (509,225) 5,058,004 (594,027) 681,053 N•t ¢ash provlded by financing actlvltl•$ 4,524,279 (833,988) Chang• In c88h •nd cash oqulvalent* In th• year Cash and cash 8quivalenls at the beginning of tha year 5,406,154 7,252,080 840,155 6,411,925 Cash and ¢4•h •qulval•nts at th• •nd of tho year 24 12,858,234 7.252,080 The notes on pages 30 to 53 k)rm part of these financial slalemenls Page 29
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlted by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 General Informallon The principal activity of the School is th8 provision of education for boarding and day boys and girls, be&an the ages of 3 and 13. The Charity Iregislered number 0898539 and charity numbar 309098), is incorporated and domiciled in the UK. The address of the registered office 15 Winkfield Row, Bracknell Berkshlre, RG42 6LU. Aceountlng pollcl•s 2.1 Ba81s of preparatlon olflnan¢lo1 statements The financial slalements have been prepad in accordance with the Charities SORP (FRS 102) - A¢counttng and R8POrting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 102) (effective 1 January 20191, the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Lambrook School Trust Llmlted meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transactlon value unless otherwise slated In the relevant accounting policy. 2.2 Golng concem Havlng revlewed the fundlng faclllties available to the School logelher wlth the expected ongolng demand for places and the School's future projected cash nows. the Govérnors have a reasonable expectation that the School has adequatè resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis. The financial slalements are prepared under the historical cost convention. They includ• the results of the School's operations as described In the report of the Governors. 2.3 Group accounts The accounts of Lambrook Sports 2nd Leisure Club Limited and Lambrook School {Inlemational) Limited have not been consolidated with those of the School as the Govemors consi¢Jor Ihal Ihe amounts involved are nol mat8rial. 2.4 Ineom• All income 15 recognised once Ihe company has entitlement to the income, il is probable that the income will be received and the amounl of incom8 receivable can be measured reliably. School fee5 School fees represent amounts receivable for educational seNtes provided, includlng extras. Other income includes chargeable extras, school trips, regislralion fees, school transport. flexible boarding fees and slmilar income. Amounls received under the School's Paymonl on Account Scheme contracts. for education not yet ulilised to settle school fees. are recorded as defer4 Income and allocated as current liabilities where the education will be provided within 12 months from the reporting d8t8 and as long-tèmi liabilities where Ihe education will be provided in subsequent years. Donations and grants Income from donations is recorded when Ihe funds are received. Page 30
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlted by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 A¢¢ountlng pollcle8 (¢ontlnu•d) 2.5 expendlture Expenditure Is recognlsed onGe there is a legal or conslructlv8 oblTrgatlon to Iransfer economlc benelll to a third party, 11 is probable that a transfer of economic benefltg will be required in settlement and Ihe amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each aclivily are madè up of the tolal of direct costs and shar8d costs, induding supporl costs Involved in undertaklng each acllvity. Direct costs atlribulable lo a single activity are allocated dlreclly to that activity. Shared costs which contribute to more than one aclivity and support costs whlch are nol attributable to a single activity are apportioned b8tween those activits'es on a basis consistent with the use of resources. Central staff c051s are allocated on the basis of lime spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on raisin9 lund3 Includes all expendllure incurred by the company to raise lunds for its charitable purpose5 and indudes costs of all fundra15ing activitles event5 and non-charitable tradlng. Expendlture on tharltable activltleB1s Incurred on dlrectly undortaking the aclivltles whlch lurth8r th8 company'8 objectives. as well as any associated 5UPPOrt costs. All expenditure is inclusive of Irrecoverable VAT. 2.6 Int•r•st recelvabl• Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company., this is normally upon notSfication of tho inl•rest paid or payable by the institution with whom the funds are deposited. 2.7 Taxatlon The company is consldered to pass th8 lesls s81 out In Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charltable company for UK corporation Lqx purposes. Accordingly, the company is potentially exempt from taxation in rèspect of income or capital gains received within calegories cov8r8d by Chapter 3 Part 11 of the Corporalion Tax Act 2010 or Section 256 of th8 Taxatlon of Chargeable Gains Act 1992, to the extent that such income or galny are applied exclusively lo charitable purposes. 2.8 Tanglble Ilxed a$8ets and deproclatlon The School has applied the 'deemed cost, provisions of FRS102 in Ihal valuations of previously revalued land and buildings will not be further revalued. Tangible fixed assets costlng £3,000 or more are PitalISed and recognised when fulure economic banofits are probable and the cost or valua of th8 a$8el can be measured reliably. Tangible fixed assets are initially recognised al cost. After recognition. undar the cost model, tangible fixed assels are measured al cost less accumulated depreciation and any aUMUlated impairment losses. All costs incurred to bring a t8ngible fixed asset into its Intended working condition should be included In the measurement of cost Page 31
LAMBROOK SCHOOL TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accountlng pollcles {eontlnued) 2.8 Tangible fixed assets and depreclatSon (contlnued) Dépreciation is charged so as lo allocate the cost of tangible Ilxed assets less their resldual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases.. Freehold property Roadway Freehold Improvement$ Plant and machinery Molor vehides Temporary classroom 2% per annum SOA per annum 10Yo per annum 10Vo - 25Va per annum 250/0 per annum 34¥0 per annum Th• assets, residual value5, useful li¥es and depreciation methods are reviewed. and adjusted prospecllvely If approprlate. or If there Is an Sndication ol a slgnlficant change since the la81 reporting date. Gains and losses on dlsposals are determlned by comparlng the proceeds wlth the ¢arrylng amounl and are recognised in the Statement of financial activities. 2.9 Investments Fixed asset inve51mentS 8r8 8 lorm of h'n8ncial inslrumenl and are initl8lly recognised at their transaction cost and subsequenuy measured at fair value at the Balance sheel dale, unlass the value cannol be measured reliably in which case11 is measured at cost less impairment. Investment gains and losses. whether realised or unrealised. are comblned and presented as 'Gainsl{Losses> on investm8nts' in the Statement of financial aclivilies, Investments in subsidiaries are valued al cost less provlsSon for Imp81rment. 2.10 Slock• Slocks ar8 valued at the lower ol cost and net realisabla value after maklng duo allowance for obsolete and slow-rnoving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.110ebtors Trade and other debtors are recognised al the settlemant amount after any trade dlscount offered. Prepayments are valued al the arnounl prepaid net of any trade discounts due. 2.12 Cash at bank and In hand Cash al bank and in hand include5 cash and short-lemi highly liquid investments with a short maturity of Ihree months or less from the dale ol acqulsllSon or opening of the deposit or similar account. Page 32
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accountlng pollcl•• Icontlnu•d) 2.13 Liabilities and provlslons Liabilits'es are rocognised when ther& is an obligation al the 8alanc8 sheet date as a rèsull of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlemenl can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or th6 amount it has received as advanced payments for the goods or seryices it must provide. Provisions are measured at the best estimate of the amounts required to settle the obllgatlon. Where the effect of the time value of money is malerial, the provision is based on the present value of thos8 amounls, discounted at the pre-tax disrA)unt rate that reflects the risks specific lo the liability. The unwinding of the discounl is recognSsed In the Slalemenl of financial activities as a linance cost. 2.14 PJronti' dgposlts The Governors have reviewed the contract terms under which Pupil fee deposils are held by the School. Although under nomal circumstances these will be repaid over fulur8 yoars when thg pupils complete their education at the school. pupi15 Can leave al earlier dat8s. The School does not therefore have 8n uncondlllonal rlghl lo retaln the Indlvldual deposits for at least 12 months after the balan¢• shaat dal8 and, in line with Ihe reqU1MentS in FRS 102, the balanc8 of Ihe d8POSlts held al the year end have been included within current liabilities. 2.15 Financial Instrumgnts The company only has finan¢lal assets 8nd financlal liabilitles of g kind that qualify as b8slc financlal Instruments. Baslc financial instruments are initially recognised at Iransacllon value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortlsed cost using the effective Interest method. Page 33
LAMBROOK SCHOOL TRUST LIMITED (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accountlng pollcles (contlnued 2.16 Pensions The School operates a conlrlbutory superannuatlon scheme under the Teachers, Superannuation Regulations 1976 (amended). The pension costs charged in the year for the Teachers, Pension Scherne are based cin the conlributkjns m8de to the centrglised government pension scheme run by the Department of Education as staled in note 27, The School also offers its leaching Blaff a defined contrlbution scheme as an allernalive pension scheme lo Teachers, Pensions Scheme. The decision as to which scheme lo joln is at the option of the School's staff and they are Currently able lo swStch between this scheme and TPS. The scheme was Inlroduced on 1 February 2023. The charity conlribules to the Penslons Tru$l Growth Plan for certaSn of Ils employèes. This is in most rgspects a money purchase arTang8ment. but does Include certaln guaranteed benefit g18mènts. The Plan is a mulli-employer scheme. It is not possible in the normal course of events lo idenlify the share of the undertylng assets belonoing lo the individual partlcipating employers. and in accordance wilh FRS102, is accounted for as a deflned conlrlbutlon scheme wllh conldbutions being recorded as they bécome pardbl8. However the School also makes deficit contribution payments lo the Scheme and, in accordanc8 wSth FRS 102 these payThents have been measured at fair value and included as a liabillty on th8 balanc8 sheet. The conlrlbutlons for all Schemes are charyed in the Statement of Financial Actlvllies In the year In whlch they are payable. 2.17 Fund accounting General funds are unrestrlcted funds whlch are avallable for use al the discreb'on of the Governors In furtherance of Ihe general obj8Ctives of the company and which have not been designated for other purposes. Restrfcled funds are funds which ar8 to be used In accordance wilh specific r8slriction8 imposed by donors or which have been raised by Ihe company for particular purposes. The costs of raising and administering such funds are charged agalnst the specifi¢ fund. The aim and use of each restricted fund is s8t out in the notes to Ihe financial slatemenls. When buildings are wrnpleted funds are transferred from Restricted to Unrestricted as the restriction on the donalion has been fulfilled. Crltlcal accounting •stlmat•s and aroas of ludgmont In the application of th8 chariws accounling poli¢ie5. which are described in note 2. Trustees are required to make judgements. estimates and assumptions about the carrying values of assets and liabilit195 Ihat afe not readily apparent from other sources. The 8Stimales and undertying assumptions ar8 based on historical experience and other factors that are considered to be relevanl. Aclual results may differ from these eslimales. The Governors consider that there ar8 no mateiial judgements in applying accounting policies or key sources of estimation uncertainty. Page 34
LAMBRIXIK SCHOOL TRUST LIMITED (A cornpany limited by guarnnlee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Incoffle from donatlons and l•gJ¢l•¥ Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Donalions 347.272 28.901 376,173 Unrestrict8d funds 2023 R8strict8d funds 2023 Total funds 2023 Donallons 351,951 90,396 442,347 Page 35
LAM8ROOK SCHOOL TRUST LIMITED (A company limited by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Incom• from ehafltabl• actlvltl•8- School f••8 2024 2023 The School's tee Income wnprised: Gross fees Less: bufsarles and allowances 14,187,6S1 12.989,372 1544,933) (541, 140) 13,622,718 12.448.232 Add back; Bursarles pald lor by restrlcted funds 21,271 106,323 13,643,919 12.554,555 Incom• Irom charltsble actlvltlos - Other Income 2024 2023 Chargeable gXtras- Income Registration fees Flexible boarding fees 2,016,844 50,804 84,081 1.949,707 85. 787 56,495 2,151,729 2,091.989 The total other income from charllable aclivtlles is unrestricted In bolh y8ars. Other tradlng Ineorn• 2024 2023 Other income Insurance redaims 2,986 47,281 11,368 33,041 50,267 44,409 Thé total other trading income 1$ unrèstricted in both years. Page 36
LAMBROOK SCHOOL TRUST LIMITED (A etsrnpany limited by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Expenditure on raising funds Flnanclng ¢osls Unrestrlcted funds 2024 Total funds 2024 Bank charges Loan inlerest Bad debl provision movement 7.437 7,437 56.401 56,401 63.838 03.838 Unreslricled funds 2023 Total funds 2023 Bank charges Loan int&rest Bad debt provlslon movement 12,441 22.318 (17.483) 12.441 22.318 (17,483) 17.276 17.276 Page 37
LAM8ROOK SCHOOL TRUST LIMITED (A company limit•d by guaranto•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Analysls of expendSture on charilable aetivlties Summary by fund lyp• Unr•8trlct•d Ro8trlctod funds funds 2024 2024 Total 2024 Teaching costs Welfare costs Premises costs Support costs Grant maklng (restrlciad) 7.845,552 1.128,694 2,585.911 2.827.324 7,845.552 1,128,694 2,585,911 2,827,324 21,271 21,271 Total 2024 14,387,481 21.271 14,408,752 Unrnstricled funds 2023 R&strlcted lunds 2023 Total 2023 Teachlng costs Welfare costs Premises costs Support costs Granl making Irestrlcted) 6,966,036 1.014.623 2,390,834 2, 706.304 6.966,036 1,014,623 2,390,834 2, 710,354 106,323 4.050 106,323 rotal 2023 13,077. T97 110,373 13.188. 170 Page 38
LAMBROOK SCHOOL TRUST LIMITED IA company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY 2024 Analysis of expenditure on charitable a¢tlvities (Continued) Summary by expendlturo typo Staff costs Depreciation Other costs 2024 2024 2024 Total 2024 Teaching costs Welfare costs 6.711.132 627.212 616.796 2.080,689 159,240 975.180 S01,482 1.346,759 746.635 21,271 7,845,552 1,128,694 2.585,911 2,827,324 21,271 Premises costs Support costs Grant making costs 622,358 Total 2024 10.035.829 781,596 3,591,327 14,408,752 Sl8ff cosls Depreciation 2023 2023 Other cosfs 2023 Tolal 2023 Teaching costs Welfare costs Premises costs Support costs Grant making costs 5.850.428 512,956 513,235 1.922.060 133,236 982,372 501.66T 1,327,783 788,294 106,323 6,966.036 1,014,623 2.390,834 2,710.354 106,323 549,816 Tolal 2023 8, 798,679 683,052 3, 706,439 73,188.170 10. Net Incomg 2024 2023 Net incoming resources are slated after charging: Depreciation of tangible fix8d assets Auditors, remuneration- audit and accounts preparation fees 781,596 24,500 683.052 22,5t)O Page 39
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THÉ YEAR ENDED 31 JULY 2024 11. Staff costs 2024 2023 Wages and salaries Social securily costs Conlrlbullon lo defined contribution pension schemes 8,037,081 773,634 1,225,114 7.048,527 675,832 I.OT4,320 10,035,829 8, 798,679 The average number of persons èmployed by the company during the year was as followg.. 2024 2023 Teaching Welfare Support Prernises 151 122 34 25 25 16 215 168 The nufflber of employees whose •mploye8 benefits (excluding employer pension costs} exceeded £60,000 was.. 2024 2023 No. In the band £60.001- £70,000 In the band £70,001- £80,000 In the band £90.001- £100.000 In the band £100,001 . £110,000 In the band £110,001 . £120,000 In the band £170,001- £180,000 In the band £210,001- £220,000 Five of thos9 employees (2023.. five) accrued retirement benefits under the Teachers. Pension Schema. Four employees were members of the Pensions Trust Growth Plan f2023.' three), One was a member of APTIS (2023.. onej. and one employee had a pefsonal pension plan. Their contributions this year totalled £159,737 (2023.. £140,974J. Key management comprise the Govemors and key managernent personnel listed on page 1. They received aggregale remuneration (including 8mployors Nl and employers pension contribullons) of £639,527 (2023.. £563,918). Page 40
LAMBROOK SCHOOL TRUST LIMITED {A company limitèd by guarantèè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 12. Governors. remunerallon and expenses During Ihe year. no Governors recelved any remuneration or other benefits {2023- £NIL)- Ourlng the year ended 31 July 2024. èxpenses totalling £734 were reimbursed or paid directly to 2 Governors (2023 - £565 to 3 Govemors) for travel and safeguarding rurSe$. Close relatsves of the School's Key Managem8nt personal are employed at Ihe School. Thelr recruitment 18rms of employment and salaries are not influenced by the Key Management Personnel with whom they are connected. All salaries are reviewed by the Oirector of Finance and the Board of Governors. All recruitment is overseen by the School's HR department and a number of its Senior Leadership Team andlor Governors. The total amount paid lo such employees (excludlng employer penslon conlributlons) is £71,970 (2023.. £69,225). 13. Tanglbl• Ilxed ass•ts A•s•t• under th• Motor eourse of v•hlcles GonBtructlon Freehold proporty Plant and machlnery Total Cost or valuatlon At 1 Augusl 2023 Addillons Olsposals Transf8rs beeen classes 22,787.321 1,270,547 1,447,808 286,754 (9,806) 575,520 151,159 149,110) 57,900 24,868,549 1.043,249 2,751,709 (5,1841 (64,100) (1,095,965) 1,095,965 At 31 July 2024 25,153.633 1,724,756 677,569 27,556,158 Depreclatlon Al 1 August 2023 Charge for the year On disposa15 5,390,066 622,357 1,363,366 65.699 (9,8061 402,419 93,540 149,110) 7,155,851 781,596 (58,916) Al 31 July 2024 6,012,423 1.419,259 446,849 7,878,531 N9t book valuè At 31 July 2024 19.141.410 305.497 230,720 19,677,627 At 31 Juty 2023 17,397,255 84,442 173,101 57,900 17,712,698 Page41
LAMBROOK SCHOOL TRUST LIMITED (A company limited by guaranto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 13. Tanglbl• flx•d assets {conllnu•d If freehold land and buildings had not been revalued In the past, Ihey would have been inrjuded al the followlng amounts.. 2024 Cost Addllions Transfer Aggrogale depreciation 21,163,99S 1,130,577 1,095,965 (4,593,219) 18,797.318 All assels are used lor dlrect charltable purposes: 14. Flxed a•8et Investmonts Investmènts in 8ub8idlary companles Cost or valualion At 1 August 2023 At 31 Juty 2024 Nèt book value Al 31 Juty 2024 At 31 July 2023 The above investment relates to Lambfook SGhool Ilnt8rnab'onall Limiled. In addr<ion. two Ordinary shares of£1 in Lambrook Sports and Leisure Club were gifted to the Company.. Page 42
LAMBROOK SCHOOL TRUST LIMITED (A cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Principal subsidiafies The following were subsidiary undertakings of the company: Names Company Registered offlce or nUMr prlnclpal place of business Prlncipal a¢tiviiy Class ol Holdlng sharos Lambrook Sports and Leisure Club Limited 02900023 Wlnkfleld Row. Bracknell, Hlre ol the School's Ordinary Berkshlre. RG42 6LU general and sporting facilities 12002172 Winkfield Row, 8racknell, Dormant Berkshire. RG42 6LU 100Y• {LSLC) Lambrook School (Inlematlonal) Limlted Ordlnary 100% The financial results of the Subsidiaries for the year were.. N•moS Income Exp•ndltur• PfoflU{Los8) I Surplusl (Dèflcit) for Ihe ygar Net ass•ts Lambrook Sports and Leisure Club Limited (LSLCI Lambrook School {Inl8mational) Limited 7,365 12,497) 4,868 8,192 There were no transacllons beeen LSLC and the School durlng the year {2023.' £Nil) In relatlon to staff salaries and the use of the swimming pool by Lambrook Sports and Leisure Club Limited. In the year ended 31 July 2024 lolal gift aid payments of £2,382 {2023.' £13, 798) were made from Lambrook Sports and Leisure Club Limited lo Lambrook School Tnjst Limitod. Al the year end the subsldiary owed £3,750 (2023.. £1, 117) to Lambrook School Trust Limited. 15. Stocks 2024 2023 Consumables 4,171 Page 43
LAMBROOK SCHOOL TRUST LIMITED (A company liffllted by guaran1••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 16. Oèblors 2024 2023 Due wlthln one yèar Trade debtors - fees and extras receivable Amounts owed by group undertakings Other debtors Prepayments and accrued income 616,440 3,750 33,145 393.433 498,524 1.117 4,033 250,557 1,046,768 754, 231 17. Creditor8: Amountg falling due wllhln one year 2024 2023 Amounts du8 to ISE Trade creditors Olh8r taxallon Bnd social 3ecurlly Other credltors Fees received In advance Parents. deposits Pension scheme funding deficit Acryuals 24,500 275,352 170,128 670,123 731,883 1,008,957 994 24,500 255. 138 25,573 421. 124 769,893 902,271 1,988 284,341 408,916 3,290,853 2,685,428 Deferred inccAne Paym8n18 on account and extras In 8dvance 2,061.575 694,976 S,352,428 3,380,404 Page 44
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 18. Cfeditors: Amounts falllng due after more than one year 2024 2023 Amounts due to ISE Pension Scheme lunding deficll 633,500 658,000 994 633,500 658,994 D•ferr•d Incom• Payments on account and extras In advance 4,041,582 390,531 4.675.082 1.049,525 Included within the above are amounts falllng due as lollows 2024 2Q23 Between ono and two years Amounts due to ISE 24,500 24,5fJo Belween two and flve years Amounts due to ISE 73,500 73,500 Ov•r fivo year8 Amounts due to ISE 535,500 560,000 The School ha$ iwo loans with the Imperial Service Endowment IISE>. an educational charily. as detailed below. An amount of £364.000 (2023.. £378,000) du8 to the ISE represenls advances made lo the School for the purpose of conslrucling andlor refurbishin9 buildin9s and carrying out other improvemenls al Lambrook School, as sanctioned by an order by the Charity commison dated 8 October 1998. Under the terms of this Order, no interest is payab18 and the advances are repayable in equal annual instalments of £14.000 per annuffl over 50 years. A further amount of £294,000 (2023.. £304,500) is due lo the ISE. In accordance with a Charity Commission Order dated 2 April 2003. no interest is payable. and the amount *AfjII be repayable in equal annual instalments of £10.500 per annum over 50 years. The above ISE loans, tolalling £658,000 (2023.. £682.500) are secured against certain School freehold land and propety. Page 45
LAMBROOK SCHOOL TRUST LIMITED IA company Ilmited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 19. Payment on account scheme Amounts may be paid on account to the scho to be applièd toward$ the cost of future tuition fees. The money may be felurned subject to the specific conditions st8ted wilhln the Scheme literature. Assuming pupils will remain al the School lees on account will be applied as lollows'.- 2024 2023 Wlthin 1 year Within 1 to 2 years Within 2 to 5 years 1,806,962 1.480,469 2,346,855 694.976 299.610 90.921 5.634,286 1.085,507 The balance represents the 8nj¢d 118blllty under the contracts, The movemonts dudng ihe year aro detailed as follows-. 2024 2023 As at Augusl 2023 Fees rec&lved on account Ulilised 1,085.507 5,058,004 {509,22S) 998,481 681,053 {594,027) At 31 July 2024 5.634,286 1,085.507 Page 46
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmfted by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 20. Flnanclal In$trum•nts 2024 2023 Flnanelal ass•tg Financial assots measured at amortised cost 13,311,569 7, 845,804 2024 2023 FSnanclal Ilabllitles Financial instruments mea8ur8d at amortlsed cost Financial liabilities measured at fair valuè (3,021.3481 (2,548,956) (9941 (2,982) Financial assets measurad at amortlsed eost comprise trade debtors, amount owed by group undertakings. other debtors and cash equivalents. Financial liabilities méasured at amortised cost comprise bank loans and overdraft. trade creditors. other creditors, amount owed by group undertakings. parents, deposits and accnJals excluding d8forrod income and olher taxes and social $pcurily. Financial Ilabilities measured at lair value comprise the pension deficit contribution liabllty. The Charitable Compan8 incom8, expense, gains and losses In respect of financial instruments are summarised below". 2024 2023 Inl•r•st Income and expense: Interest Income Interest expense Bad dgbls 1320,642) (181.61 T) 22.318 (17,483) 56,401 Page 47
LAMBROOK SCHOOL TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 21. Stalement of funds Statomont of funds - current year Balance at 1 August 2023 Tran810rn 8a14nco at Inlout 31 July 2024 Income Expenditure Unr•$trlct•d funds Ganaral Fund 20,426.108 16.513,899 (14.192,8771 852.973 1258,442) 22,488,688 852,973 Revaluation Reserve Foundallon fund (088lgnaled) (258.442) 258,442 21,279.081 16,513,899 114,451.319) 23.341.661 Ro•trl¢t•d fund• Piano Fund Bursary Fund 2024 Yr 8 Leavers Gift 10,000 10,000 21,271 7,630 (21,271) 7,630 10,000 28,901 (21,271) 17,630 Total of funds 21,289,081 16,542,800 (14,472,590) 23,3S9,291 The Plano Fund Thls fund Is to be used to purchas8 a grand piano. Burgary Fund This fvnd 15 to provlde bursaries for pupils. 2024 Yr 8 Leavors Glft Fund Thls lund Is to be use¢J for the Yr 8 Leavers Gift, Foundatlon fund Thls year the foundabon fund has been used to fund bursaries. Page 48
LAMBROOK SCHOOL TRUST LIMITED IA company Ilmited by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 21.. Statement of funds {continued Statem•nt ol funds - prlor year 8alance 81 1 Augusl 2022 Transfers Balance at in/out 31 July 2023 Income Expenditure Unr•strlct•d funds General Fund Revaluation Reserve 18,261,703 15,224.521 (73,062,606) 885,440 (32,467) 2,490 20,426. 108 852,g73 R••trlcted fund• Piano Fund 8ursary Fund TreeslBench Fund 10,000 22,467 10,000 83,856 6.540 (106,323) (4,050) (2.490) 32.467 90.396 (110,373) (2,490) 10,000 Total of fund8 19, 179,610 15,314,917 (t3,205,446) 21,289.081 22. Analysls of net assets between funds Analysis of n•t assots b•tW8en funds - current perlod Unrestrlct•d R•strlcted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset inveslmenls Current assets 19,677.627 19,677,627 13.691.543 {5.352.4281 {4.675.0821 17.630 13.709.173 (5,352,428) (4,675,082) Creditors due within on8 year Creditors due in more than one year Total 23,341,661 17,630 23,359,291 Page 49
LAM8ROOK SCHOOL TRUST LIMITED IA company limited by guarant0e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Analysls of net assels between funds (continued) Analysls of not as8818 between funds - prlor perlod Unreslricted funds 2023 Reslricted funds 2023 Tol81 lunds 2023 Tangible fixed assets Fixed asset investments Current assets Credilors due wilhln onè year Creditors due in more than one year 17,712,698 17,712,698 7.996,311 (3,380,404) (1,049,525) 10,000 8,006,311 (3,380.404) (1.049.525) Total 21,279.081 10,000 21.289.081 23. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltle8 2024 2023 Net income far the period (as Slalemenl of Financial Activlties) 2,070,210 2,109,471 Adjustments for: Depffjcialion charges Interest Income Loss on the sale of fixed assels D8cr8asel(increase) In stocks Increase in debtors 781,596 1320,6421 5,184 (4,1711 1292,5371 1,073,302 683,052 (181.617) 8,761 (84,321) (2.828) 22.318 Increasel(decrease> in Creditors Loan interest paid Net cash provlded by operaling aclivitl•s 3,312,942 2,554,836 Page 50
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmlt•d by gu•rants•) NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 JULY 2024 Analys18 of cash and cash equlvalents 2024 2023 Cash In hand 12.658,234 7.252.080 Total cash and cash oqulvalonts 12.658,234 7.252,080 25. Analy81s of chang•8 In n•t debt At 1 August 2023 Cash flows At 31 July 2024 Cash al bank and In hand Debt due wilhin 1 year Oebt due after 1 year 7,252,080 5,406,154 12.658,234 (719,476) (1,111,986) (1,831,462) (1,048,531) (3,412,293) 14.460,8241 5,484,073 881,875 6,365,948 Oebt due wlthln one year and debt due after 1 year relates to loan$ ond the payment on account scheme,, 26. Capltal commltments 2024 2023 Conlracted for but not provided in Ihe9e Ilnan¢lal slat•m•nts 8uses 88.429 27. Ponslon commltmenls a) Teachers P8nsion Scheme The School participates in the Teachers. Pension Scheme Ilhe TPS'I for its teaching staff. The pension charge for the year includes contrlbutlons payable to the TPS of £1,016,642 (2023.. £879,400) and at tha year-end £133,060 (2023., £98,149) was accrued in respect of contributions lo this scheme. The TPS is an unfunded mufti-émployer defined benefits pension scheme govemed by The Teachers. Pensions Regulations 2010 (as amended) and The Teachers, Pension Scheme Regulations 2014 {as amended). Members contribute on a "pay as you go. basis with contributions from members and the employer being crediled to the Exchequer. Retirement and other penslon beneffts are paid by public lunds provided by Parliament. Page 51
LAMBROOK SCHOOL TRUST LIMITED (A company limlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 27. P•nslon commitments (continued The employer contrlbution rate is set by the SeGfetary of State following scheme valuations undertaken by the Government Actuarfs Department. The most recent actuarial valuation ol the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. Following the Mccloud judgement, the remedy proposed that when bènefits becoffle payable. eligible members can select to receive them from either the reforrned or legacy schernes for the period 1 April 2015 10 31 March 2022. The 8CtuaTies have assumed that membèrs are likely lo choose the option Ihal provldes them wlth the greater benefits, and in preparlng the 2020 valuation has valued the 'gre8ler value. benefits for groups of relevant members. The employer conldbution rale for the TPS Is 28.6%, and employers are also requlred to pay a scheme administration levy of 0.08QA giving a lotal employer conlribulion rate of 28.6801.. b) Tho Avlva P•nslon Trust for Indepondent Schools (APTIS) The School offered its leaching staff an alternative pension scheme lo Teachers, Pensions Scheme during the year. The decrsion as lo whlch schema lo loln Is al the option of the School's staff and they are currently able to switch belween this scheme and TPS. Th8 scheme was introduced on 1 February 2023. In the year endgd 31 July 2024 the ponsion cost charge for this scheme amounl8d to £34,974 (2023.. £17,876). At the year end there was a creditor of £2.606 (2023,. £26,601). c> Non-Toachlng P•n8lon S¢heme The School's non-teaching staff a entitled lo membership of the Pension Trust Growth Plan ("the Plan.). This is a mulli4employer pension plan whlch provides benefits to some 950 non-associaled participating employers. The scheme is a defined benefit scheme in the UK. 11 is noi possible for the company to obtain sufficient information to enable il lo account for the scheme as a defined benefit scheme. Therefore it accounts for the schem• as a defined contribution 5ch•m•. Thè scheme is subjecl to the funding legislation outlined In the Pensions Act 2004 which ¢ame into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Slandards issued by the Financial Reporting Council. set out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classified as a 'l88t-man slanding arrangement.. Therefore the company is potentially liable for other particlpating employers. obllgallons If those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuily purchase basis on wrthdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m. liabilities of £831.9m and a deficil of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participalong employers to pay additional contributions to the scheme. The pension charge in this scheme amounted to £144,522 {2023., £177,044) during Ihe year (including ihe movement on the deficit contribution liability) and at the year end £27,309 (2023.- £27, 145) was accrued in respect of contributions to this scheme. Employees also contribute to a number of smaller schemes in respect of which the charg8 is £28.978. Page 52
LAMBROOK SCHOOL TRUST LIMITED (A company Ilmitod by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 28. Operating lease commitments At 31 July 2024 the company had ¢ommilmgnls to mako lulure mlnlmum lease payments undef non- cancèllablè opefating leases as follows: 2024 2023 Not laler than 1 year 1,500 12,000 Page 53