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2024-08-31-accounts

Registered number: 00587874 Charity number: 309910

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Company, its Governors and Advisers 1 - 2
Governors' Report 3 - 13
Independent Auditor's Report on the Financial Statements 14 - 17
Statement of Financial Activities 18
Balance Sheet 19
Statement of Cash Flows 20
Notes to the Financial Statements 21 - 36

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024

Governors Mrs S Barrett (Chair of Governors)
Ms C Danbury (appointed 23 February 2024)
Mrs R Donaldson (resigned 31 August 2024)
Mrs G Eilbeck
Mrs E Hill
Mrs C Lavery (appointed 1 September 2023)
Mr H Lodhia
Mr N Mullineux
Mr R Palmer
Mr P Sanderson
Mr J Tearle
Mrs E Wilson (appointed 1 September 2023, resigned 31 August 2024)
Mrs L Whitehead (appointed 1 September 2023)
Mr B Wood (appointed 1 September 2023, resigned 31 August 2024)
Honorary Officers Mrs S Mitchell, (Head)
Mrs C Wood, (Bursar, Clerk to the Governors and Company Secretary)
Key Management Mr S Preece, (Deputy Head, Beachborough)
Personnel Mr D Gross, (Head of Manor House)
Ms C Sharps, (Head of Boardman) (resigned 31 December 2023)
Company registered
number
Charity registered
number
Registered office
Company secretary
Independent auditor
Bankers
00587874
309910
Westbury Manor
Brackley
Northamptonshire
NN13 5LB
C Wood
Crowe U.K. LLP
R+ Building
2 Blagrave Street
Reading
Berkshire
RG1 1AZ
Barclays Bank Plc
North Oxfordshire Group
PO Box 1
Oxon
OX16 8PS

Page 1

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Solicitors

Insurers

Veale Wasbrough Vizards Orchard Court Orchard Lane Bristol BS1 5WS Marsh Brokers Limited Education Practice Capital House 1-5 Perrymount Road Haywoods Heath RH16 3SY

Page 2

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The Governors of the School, who are also Directors of the Company and Charity Trustees for the purposes of the Charities Act 2011, present their Annual Report in compliance with both that Act and the Companies Act 2006. The report contains Directors’ Report and Strategic Report together with the audited financial statements for the year ending 31 August 2024.

The format and content of the report and financial statements comply with the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice: ‘Accounting and Reporting by Charities’ (SORP FRS102)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Beachborough School Trust Limited (herein “Beachborough School”) was incorporated on 25 July 1957 as private company limited by guarantee without share capital. The company number is 00587874 and the charity number is 309910.

Governing Document

The company is controlled by its Memorandum and Articles of Associations. The Articles of Association were reviewed and updated during the year. The updated articles were adopted by the Trustees on 31st March 2022.

Governing Body

The Governors of the Trust are all Directors of the Company. Those who held office during the financial year are listed on page 1. Governors are elected by the Board to fill a vacancy due to retirement, or to enhance or add to the particular skills of Board. The Directors are elected at a full Directors meeting on the basis of nominations received from members of the Board or the Head taking into account eligibility, personal competence, specialist skills and local availability.

The Trust has no share capital and consequently none of the Governors has any interest in the Trust. The liability if the governors is limited to the extent of £5 each in the event of the trust being wound up.

Recruitment and Training of Governors

Potential governors are identified by members of the Governing Body and considered against the Body’s specifications concerning eligibility, competence, specialist skills and local availability.

New Governors receive a thorough induction so they clearly understand the responsibilities of the role and the workings of the School. In addition, all Governors are encouraged to attend relevant training seminars and conferences throughout the year to further their own professional development.

Page 3

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Organisational Management

The members of the Governing Body are legally responsible for the overall management and control of the School. The Governing Body meet as a Board at least three times a year and at other times as required by the School’s business. The Governing Body has five sub-committee’s to support the running of the School. Each committee has Governor representation as well as members of the School Leadership Team. Each subcommittee will also meet three time a year and feed their termly report and minutes of their meeting to the Full Board of Governors meeting. The purpose of the Governing Body meeting is for the Governors to determine the general policy of the School and review its overall management and control. At the end of each meeting there is an opportunity for the Governors to have a discussion without staff present if and when the need arises.

In addition to the sub-committees, the Board have appointed a Governor with specific responsibility for Child Protection and Safeguarding, Boarding Provision, SEN, and Parent Liaison.

The day to day running of the School is delegated to the Honorary Officers who are supported by the key management personnel, the Senior Leadership Group and other staff.

The remuneration of the key management personnel is set by the Board, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the School’s success.

The appropriateness and relevance of the remuneration is reviewed annually, including reference to comparisons with other independent schools to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere.

We aim to recruit, subject to experience, at the lower to medium point within a band, providing scope for rewarding excellence. Delivery of the School’s charitable vision and purpose is primarily dependent on our key management personnel and staff costs are the largest single element of our charitable expenditure.

Group Structure

The company has no subsidiaries.

The School is an active member of:

The Head is an active member of:

Page 4

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Local Community Relationships and Other Charitable Activities

The School provides the use of its facilities to local community groups and to local families on a regular basis either at low cost or no cost. It supports both national and international charities through a wide variety of fundraising initiatives. The School is committed to serving the best interests of the local community and regularly meets with the local Parish Council in order to actively contribute, promote and improve the local environment.

AIMS, OBJECTIVES AND ACTIVITIES

Primary Objectives

The core charitable aim of the Trust is to promote and enhance the education of children within the United Kingdom. This is currently achieved through the operation of an independent preparatory, pre-preparatory, and nursery school for boys and girls aged two to thirteen.

The Governors regularly assess and monitor the School's performance to ensure its educational standards and leadership remain exemplary.

Strategies to Achieve the Primary Objectives

The School’s strategic vision is to offer each child an excellent academic, spiritual, and moral education within a warm, supportive, and nurturing environment. Our approach fosters a stimulating learning journey where every child is encouraged to discover and unlock their unique talents and academic potential while broadening their wider interests in life.

Principal Activity

The School is committed to delivering a high-quality education. A majority of pupils transition to Public Schools at thirteen, having successfully secured placements through entrance exams taken a year or two in advance. Additionally, some pupils apply for public school scholarships in Year 8. The Prep School offers both boarding and day facilities for pupils aged seven to thirteen, while the Pre-prep and Nursery provide day education for children aged two to seven.

Objectives for the Year

This year, the Board's primary objective remains to provide an exceptional standard of education for all pupils. The aim is to ensure the curriculum is broad and balanced, promoting not only academic success but also a comprehensive development of skills. We will continue improving the school's facilities to create spaces that inspire creativity and engagement, ensuring our pupils have access to the best resources for dynamic learning.

A well-qualified, experienced, and dedicated team of staff supports the pupils in both their academic and spiritual growth. The School fosters a culture where staff and pupils alike contribute positively to the life of the school and its wider community, preparing pupils for their next educational step and for the responsibilities and opportunities of adult life.

Page 5

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

AIMS, OBJECTIVES AND ACTIVITIES (continued)

Strategies to Achieve the Year’s Objectives

To meet this year’s objectives, we aim to ensure the school's continued success and growth. By doing so, we can maintain the provision of generous resources for our pupils. Achieving this is supported by our commitment to a rigorous and demanding recruitment process, ensuring we attract and retain the best possible teaching and support staff.

Volunteers

The School is immensely grateful to be supported by volunteer parents. The Beachborough Friends Association is made up of parent volunteers and they meet regularly throughout the academic year. They continue to help with the School's fundraising and cultural activities during the year and are an invaluable support for the day-today operation of the School.

Beachborough School benefits from the generosity of a thriving network of current and former parents and pupils whose close support is greatly appreciated and acknowledged.

Fundraising Activities

Beachborough School does not engage in large scale fundraising activities like mass mailings, telephone fundraising or door-to-door campaigns. The School does not employ a separate fundraising team or third party organisation to help raise funds. Any small level fundraising activities focus on the current parents and other individuals or organisations connected with the School rather than the wider community. During the financial year, the School did not receive any fundraising complaints requiring action by the Fundraising Regulator

ACHIEVEMENTS AND PERFORMANCE

Academic Excellence

The School and Governors congratulate each and every pupil in Form VIII (Year 8) as all 26 pupils at the end of the academic year gained entry into their school of choice. An outstanding 22 awards, scholarships and / or exhibits were achieved by the Form VIII’s in a wide range of disciplines including Academic, Art, Drama, Music, Sport and Design from a range of Senior Schools including Bloxham, Christ Hospital, Quinton House, St Edwards, Stowe and Tudor Hall. We consider this to be an exceptional achievement as Beachborough is a nonselective school.

The School continues to enhance its reputation for academic excellence producing another impressive year of scholarships, exhibits and awards. Throughout each year group formative and summative assessment remains rigorous enough to place children within the correct environment to maximise their learning; allowing scholarship potential and learning support to be recognised earlier than ever. Future schools continue to acknowledge Beachborough’s ability to work with each individual child and to help them meet the entry requirements of their senior school.

Page 6

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

ACHIEVEMENTS AND PERFORMANCE (continued)

Sporting Performance

Sport has continued to play a prominent part in the life of our pupils at Beachborough School throughout the past academic year. Underpinning everything we do here at the School is the notion of “Sport for All”. We recognise that inclusivity is a key part of our fabric as a school and ensure that we consistently hit a 100% participation rate in team sports. In addition, we have also run school teams in other sporting areas, namely athletics, cross country, equestrian, gymnastics, swimming, tennis and triathlon with the breadth of the programme enabling our pupils to experience competition and enjoyment in equal measure.

Our pupils continue to display the characteristics that we place such value on at Beachborough – collaboration, perseverance, empathy and being challenged to be the best version of themselves. They have all been fine ambassadors for Beachborough in the various matches, festivals, tournaments, meetings, galas and competitions that the school has been involved in this year.

In line with previous years, the children celebrated many successes. Some of the highlights of the year included

The school are also very proud of the six scholarships and exhibitions awards received by children in Form 8.

Music

Our music department continues to grow and develop.

All children are encouraged to participate in music and in addition to curriculum lessons, 177 children attended individual instrument and /or singing lessons. Most of the children work towards sitting public exams, and the children had a fantastic set of results from their ABRSM and Trinity music exam sessions with some students achieving their Grade 5.

In addition, there are 15 music groups and a number of choirs for the children. Each group holds their own concert during the year along with termly music concerts, hence providing plenty of opportunity for the children to gain confidence performing to both small and large audiences.

Page 7

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

ACHIEVEMENTS AND PERFORMANCE (continued)

Technology

Technology, Engineering and Design has yet again grown and flourished. Building on being named Best Prep School for STEM in the UK by The Week Independent School Guide in 2021, the School was selected as a finalist for the Muddy Stilettos Excellence in STEM award.

The Department strives to continue to deliver STEM in the best way imaginable across the school, with over 1,100 items being made in our workshop this year! The scholarship programme within technology continues to flourish, and we are proud to receive the1st place Deign Scholarship from Stowe School.

We were very pleased to be able to invite three local school to join two Creative Technologists’ Innovation (CTI) events. In total 250 children from form 5 and 6 enjoyed action packed days. The annual event is fantastic way to bring children together, and the camaraderie between the children from all schools present was outstanding.

Co-curricular and Enrichment

The school continues to offer a wide variety of co-curricular activities with over 60 sessions running each work providing opportunities for children to try and learn new skill. This year the clubs offered included Sculpture, Quilling, Explorers, Battle Shields, Technology, Cosmic Yoga, Skiing, Reasoning, Robotics, Lego, Debating, and Voyagers Club to name a few – alongside a multiple of sports clubs.

There has been much to celebrate across the Co-curricular programme this year. Special mention goes to:

A highlight from the year was the schools Enrichment Week, and with the theme of ‘A Trip to the Movies’ the children delved in to the world of animation by creating miniature zoetropes to explore the magic of moving pictures. It was a week filled with creativity and exploration, highlighting the interconnectedness of technology and art.

Achievement in Relation to Last Years Future Plans

To continue the development of a bespoke programme Years 7 and 8 to provide them with the necessary skills to successfully progress to the next stage of their educational journey.

The development of the bespoke CEL Programme (Character, Ethics, and Leadership) for Years 7 and 8 is a key initiative aimed at equipping pupils with essential skills for their educational journey. Each child participates in a 45-minute session weekly, focusing on the "Learning to Lead" syllabus. Through class discussions, practical exercises, and group work, the programme develops character, ethical understanding, and leadership skills. The curriculum also incorporates philosophy and ethics lessons over the two years. The programme is framed by two exceptional residential trips designed to deepen pupils' understanding of leadership and the key qualities required to succeed.

Page 8

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

ACHIEVEMENTS AND PERFORMANCE (continued)

To continue to develop Beachborough’s digital curriculum to enhance teaching and learning.

Beachborough remains committed to being at the forefront of educational innovation, furthering the development of its digital curriculum. Achieving Microsoft Showcase School status in September 2024 is a testament to our commitment to creating immersive, inclusive, and student-centred learning experiences. These experiences nurture essential future-ready skills and inspire lifelong learning, empowering pupils to achieve more.

Building on this success, we will continue to integrate the latest technology and resources into our curriculum to provide dynamic, engaging learning experiences. The school’s ongoing collaboration with Microsoft ensures that our students are equipped to thrive in an increasingly digital world. As part of this commitment, all Year 7 and 8 pupils will receive a school-funded personal device to enhance their learning experience.

To ensure that School is able to continue to deliver the highest possible standard of education to all its pupils, whilst ensuring the school offers a broad and balanced programme of learning.

The school will maintain the highest standard of education by balancing academic excellence with a broad, holistic learning programme. A rigorous, regularly reviewed curriculum will ensure that it meets the needs of all learners. Core subjects, such as Mathematics, English, and Science, will be supplemented by a wide range of creative and practical subjects, fostering well-rounded personal and academic development.

Investing in teacher professional development remains a priority, ensuring our staff stay informed on the latest teaching methodologies. By doing so, we directly improve pupil outcomes and experiences. Additionally, continued investment in modern facilities, technology, and extracurricular activities will further support dynamic and diverse learning opportunities both inside and outside the classroom.

PUBLIC BENEFIT

Whilst the principal beneficiaries of the Charity are the pupils aged between two and a half and thirteen years of age there are also a number of organisations in the local community who benefit through the use of the School facilities or equipment.

The Trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011, to have due regard to the guidance issues by the Charity Commission on public benefit.

Page 9

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

ACHIEVEMENTS AND PERFORMANCE (continued)

G rant-making

The School aims to widen access to its education on offer by continuing to provide a means tested bursary scheme to allow parents who would otherwise be unable to afford the fees, to send their children to the School.

The Finance Committee has an established Bursary policy that has been endorsed by the Full Board of Governors. With its own set of aims and objectives, a formal application is made which is 'means-tested' against the asset value of the parents.

Fundraising for Charities

Fundraising for charitable purposes is a fundamental part of Beachborough School life. The School encourages children to fundraise for particular areas of interest as part of their social responsibility. There is not a month that goes by when we are not congratulating, celebrating, and being inspired by the outstanding fundraising at Beachborough.

Our fundraising helps local, national and international charities, and this year the Beachborough Community raised over £31,000. The School's nominated charity was Mary’s Meals and £15,000 was presented to the charity, which was enough to feed every pupil in our sponsored school in Malawi, for a year. Other charities who benefitted from the schools fundraising events included Young Minds, The Brackley Food Bank, Children in Need, Dogs for Good, Bright Ideas for Tennis, Restless Development, Brain Tumour Research and Samaritan’s Purse.

The School had no fundraising activities requiring disclosure under S162A of the Charities Act 2011.

FINANCIAL REVIEW

Results for the Year

The school’s finances remain healthy, with total income of £7,167,168 (2023: £6,438,780) ; net surplus of £950,711 (2023: surplus £474,948) ; cash and cash equivalents of £3,129,762 (2023: £2,496,995) ; and total reserves of £7,975,588 (2023: £7,024,877) after making capital additions of £175,465 (2023: £237,468) .

The surplus achieved was in excess of the budget and the Governors are satisfied with the School’s financial performance.

The School aims to achieve a sufficient level of net incoming resources to finance ongoing capital expenditure required to keep the School’s facilities and infrastructure at a level which may be expected of an independent preparatory and to allow for unforeseen, but essential, expenditure.

Page 10

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Reserves Level and Policy

The School’s unrestricted funds stood at £7,975,588 at the year end. After deducting the carrying value of tangible fixed assets held for the School’s own use, free reserves were £3,536,956. The School does not have any bank loans or borrowings.

It is the Governors’ policy to maintain free reserves equivalent to 10% of turnover to cover the immediate needs for essential operating expenditure and any unexpected financial event.

The School further plans to build up free reserves out of annual operating surpluses to develop a Capital Projects Reserve to fund future projects and maintain up-to-date facilities needed to maintain the standard of educational services to attract and provide benefit to future pupils.

RISK MANAGEMENT

The Board continues to keep the School’s activities under review, particularly with regard to any major risks that may arise from time to time, and to monitor the effectiveness of the system of internal controls and other viable means, including insurance cover where appropriate, by which those risks already identified by the Governors can best be mitigated.

The Governing Body is responsible for the management of these risks. The School has a comprehensive risk management framework which includes a details risk register. Consideration of risk are assessed within the sub-committees and the Governing Body. Risks are identified and assessed and controls established throughout the year. Key controls used in the management of risk include:

Through this established risk management process, the Governors are satisfied that the major risks identified have been adequately mitigated where necessary and practicable. It is recognised that these systems can only provide reasonable, and not absolute, assurance that the major risks have been adequately managed.

Health and Safety is always a significant area for risk management. The risks range from fire and infrastructure to personal risks. The breadth of activities at the School is impressive and the risks associated with all activities are minimised by thorough planning and risk assessment. The School will continue to work with their appointed Health and Safety Consultant to ensure that risks are identified and managed appropriately.

Page 11

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

PRINCIPAL RISKS AND UNCERTAINTIES

Political and Economic Uncertainties

Although the Beachborough pupil role remains steady, the Governors are conscious of the economic and political climate and the challenging of charitable status of independent school has given rise to potential risks which may affect the School’s cost base. With the confirmation that school fees will be subject to VAT from 1st January 2025, followed by the removal of mandatory business rates the school is mindful of the impact this could have on the number of families either looking to join or remain at the school.

The Governing Body has been working alongside the Schools leadership team to ensure that an appropriate strategic action plan is in place to minimise the impact of the changes, whilst ensuring that Beachborough continues to offer the outstanding proposition that has driven its success. The Governing Body consider the affordability of a private school education to be one of the most significant risks facing the School, and hence the Governing Body carefully consider the annual fee increase to ensure value for money.

One of the larger uncertainties faced by the School was the uncontrollable cost of TPS contributions. However, the Trustees took action on this in 2022. Withdrawing from TPS allows the Trustees to control pension costs which has assisted greatly with long term financial planning.

Health and Safety

Health and Safety is always a significant areas for risk management. The risks range from fire and infrastructure to personal risk. The breadth of activities at School is impressive and the risk associate with all activities are minimised by thorough planning and risk assessment. The school will continue to work with their appointed Health and Safety Consultant to ensure that risks are identified and managed appropriately.

The generic controls used by the school to minimise risk include:

The Governors regularly review the effectiveness of the current plans and strategies for managing all identified major risks for the School.

FUTURE PLANS

Page 12

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Statement of Governors' responsibilities

The Governors (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Governors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial . Under company law, the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PROVISION OF INFORMATION TO AUDITORS

Each of the persons who are Governors at the time when this Governors' Report is approved has confirmed that:

AUDITORS

In accordance with Section 485 of the Companies Act 2006, a resolution proposing the re-appointment of Crowe U.K LLP as auditors to the company will be put to the Annual General Meeting.

This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Governing Body of Beachborough School Trust Limited on 3rd December 2024 including in their capacity as company directors approving the Strategic Report contained therein, and is signed as authorised on its behalf by:

Mrs S Barrett Chair of Governors

Page 13

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACHBOROUGH SCHOOL TRUST LIMITED

Opinion

We have audited the financial statements of Beachborough School Trust Limited (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Governors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report.

Page 14

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACHBOROUGH SCHOOL TRUST LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Governors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Governors' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Governors' Responsibilities Statement, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Governors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 15

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACHBOROUGH SCHOOL TRUST LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the School were school inspection regulations, Health and Safety, General Data Protection Regulations and Safeguarding. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

Page 16

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACHBOROUGH SCHOOL TRUST LIMITED (CONTINUED)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Use of our report

This report is made solely to the charitable company's 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 state to the charitable company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Alastair Lyon (Senior Statutory Auditor)

for and on behalf of Crowe U.K. LLP

Statutory Auditor

Thames Valley (Statutory Auditor)

Date: 05 December 2024

Page 17

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024

Note
Income from:
Charitable activities:
School fees
4
Other income
5
Other trading activities:
Lettings and shop income
Investments:
Interest receivable
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
6,477,011
455,840
67,656
166,661
7,167,168
89,691
6,126,766
6,216,457
950,711
7,024,877
950,711
7,975,588		 Total
funds
2024
£
6,477,011
455,840
67,656
166,661
7,167,168
89,691
6,126,766
6,216,457
950,711
7,024,877
950,711
7,975,588		 Total
funds
2023
£
5,899,734
409,544
59,240
70,262
6,438,780
123,398
5,840,434
5,963,832
474,948
6,549,929
474,948
7,024,877

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 21 to 36 form part of these financial statements.

Page 18

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee) REGISTERED NUMBER: 00587874

BALANCE SHEET AS AT 31 AUGUST 2024

2024 2024 2023
Note £ £
Fixed assets
Tangible assets 11 4,438,632 4,430,275
Current assets
Stocks 12 51,295 62,056
Debtors 13 212,288 216,370
Short term investments 14 3,423,925 1,557,653
Cash at bank and in hand 3,129,762 2,496,995
6,817,270 4,333,074
Creditors: amounts falling due within one
year 15 (2,738,596) (1,738,472)
Net current assets 4,078,674 2,594,602
Creditors: amounts falling due after more
than one year 16 (541,718) -
Total net assets 7,975,588 7,024,877
Charity funds
Unrestricted funds		 18 7,975,588 7,024,877
Total funds 7,975,588 7,024,877

The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Governors on 03 December 2024 and signed on their behalf by:

Mrs S Barrett

(Chair of Governors)

The notes on pages 21 to 36 form part of these financial statements.

Page 19

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024

Note
Cash flows from operating activities
Net cash used in operating activities
21
Cash flows from investing activities
Purchase of tangible fixed assets
Movement in short term investments
Investment income
Net cash used in investing activities
Cash flows from financing activities
Receipts from payments on account
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
22		 2024
£
155,353
(175,465)
(1,866,272)
166,661
(1,875,076)
2,352,490
632,767
2,496,995
3,129,762		 2023
£
854,938
(237,468)
(543,587)
70,262
(710,793)
-
144,145
2,352,850
2,496,995

The notes on pages 21 to 36 form part of these financial statements

Page 20

BEACHBOROUGH SCHOOL TRUST LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. General information

The School principally operates an independent preparatory, pre-preparatory and nursery school. The incorporated charity (registered charity no: 309910, company no: 00587874), is incorporated and domiciled in the UK. The address of the registered office is Westbury, Brackley, Northamptonshire, NN13 5LB.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Beachborough School Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

Demand for school places at Beachborough remains strong. Conservative cash flow modelling with sensitivity analysis indicates that the cash reserves of the charity are adequate to meet the charity’s obligations as they fall due. The charity currently holds adequate cash balances, which could be supplemented by liquidating short term investments if required. Accordingly, the Governors believe the School’s financial resources are sufficient to ensure the School will continue as a going concern for the foreseeable future, being at least 12 months from the date of approval of the financial statements and have therefore prepared the financial statements on a going concern basis.

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Fees receivable

School fees income comprises the value of amounts invoiced for tuition fees charged in respect of pupils. They are stated after deducting any remissions granted by the School in respect of bursaries and allowances. Fees received for education to be provided in future years are carried forward as deferred income.

Government grants

Grants are accounted for under the performance model as permitted by the Charity SORP. CJRS grant income is therefore recognised on a straight line basis over the furlough period for each relevant employee.

Other income

Other income comprises the value of amounts in respect of related services charged in respect of the pupils, including registration fees.

Page 21

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. Accounting policies (continued)

2.3 Income (continued)

Letting income

Letting income comprises the value of amounts invoiced in respect of facility and premises hire charges.

Donations

Donations receivable for the general purposes of the School are recorded separately and any wishes of the donor(s) taken into account whenever and wherever practical. Where donations are made under certain terms and conditions, the Board will consider such conditions before accepting the donation. Donations in kind are included in the Statement of Financial Activities at a reasonable estimate of their open market value.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Expenditure in respect of the other support costs of the School includes school trips expenditure, recruitment costs, general office costs and governance costs.

Governance costs comprise the cost of running the School, including external audit, Governors’ legal advice, and constitutional and statutory compliance costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Bursaries

Bursaries are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional. Such Bursaries are recognised as expenditure when the conditions attaching are fulfilled.

Page 22

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. Accounting policies (continued)

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

2.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 23

BEACHBOROUGH SCHOOL TRUST LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. Accounting policies (continued)

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.13 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.14 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.15 Pensions

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

The School also operates a defined contribution scheme for non-teaching staff, including an auto enrolment arrangement. Contributions to the scheme are charged in the SOFA as they become payable, in accordance with the rules of the schemes.

2.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Page 24

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. Accounting policies (continued)

2.17 Parents’ deposits

The Governors have reviewed the contract terms under which Pupil fee deposits are held by the School. Although under normal circumstances these will be repaid over future years when the pupils complete their education at the school, pupils can leave at earlier dates. The School does not therefore have an unconditional right to retain the individual deposits for at least 12 months after the balance sheet date and, in line with the requirements in FRS 102, the balance of the deposits held at the year end have been included within current liabilities.

3. Critical accounting estimates and areas of judgment

In the application of the School’s accounting policies, which are described in note 2, Governors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Critical accounting estimates and assumptions:

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

The Governors consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

4. Income from charitable activities - School fees

The School's fee income comprised:
Gross fees
Less: Bursaries and allowances		 2024
£
6,599,588
(122,577)
6,477,011		 2023
£
5,982,651
(82,917)
5,899,734

Page 25

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

5. Income from charitable activities - Other income

Chargeable extras - income
Registration fees
Flexible boarding fees
Event income		 2024
£
238,443
14,250
196,507
6,640
455,840		 2023
£
226,417
13,491
168,036
1,600
409,544

6. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2024
£
Financing costs
1,885
Marketing and advertising
87,806
89,691		 Total
funds
2024
£
1,885
87,806
89,691		 Total
funds
2023
£
1,509
121,889
123,398

Page 26

BEACHBOROUGH SCHOOL TRUST LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2024
£
Teaching costs
3,670,144
Welfare costs
761,050
Premises costs
772,582
Support costs of schooling
922,990
6,126,766		 Total
2024
£
3,670,144
761,050
772,582
922,990
6,126,766		 Total
2023
£
3,406,417
759,663
849,874
824,480
5,840,434

Summary by expenditure type

Teaching costs
Welfare costs
Premises costs
Support costs of schooling
Total 2024		 Staff costs
2024
Depreciation
2024
£
£
3,394,043
-
445,635
-
161,884
167,108
599,221
-
4,600,783
167,108		 Other costs
2024
£
276,101
315,415
443,590
323,769
1,358,875		 Total
2024
£
3,670,144
761,050
772,582
922,990
6,126,766

Included in support costs are governance costs of £19,926 (2023: £22,778).

Teaching costs
Welfare costs
Premises costs
Support costs of schooling		 Staff costs
2023
£
3,117,324
443,739
190,906
566,979
4,318,948		 Depreciation
2023
£
-
-
170,097
-
170,097		 Other costs
2023
£
289,093
315,924
488,871
257,501
1,351,389		 Total
2023
£
3,406,417
759,663
849,874
824,480
5,840,434

Page 27

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

8. Auditor's remuneration

2024 2023
£ £
Fees payable to the Company's auditor for the audit of the Company's
annual accounts 17,700 15,950
Fees payable to the Company's auditor in respect of:
All non-audit services not included above - 1,100

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
3,635,478
339,735
625,570
4,600,783		 2023
£
3,491,130
320,744
507,074
4,318,948

Termination payments in the year totalled £Nil (2023: £Nil) .

The average number of persons employed by the Company during the year was as follows:

Teaching
Support
Premises and welfare		 2024
No.
84
12
33
129		 2023
No.
82
12
33
127

Page 28

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

9. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 2 1
In the band £80,001 - £90,000 1 1
In the band £100,001 - £110,000
1 1

Of the above, 4 staff members (2023: 3) have benefits accruing under a personal pension scheme. Contributions in the year totalled £96,228 (2023: £42,158) . Key management personnel consisting of the governors, officers and key management listed on page 1, received aggregate remuneration (including employers NI and employers pension contributions) of £513,230 (2023: £473,948) .

10. Governors' remuneration and expenses

During the year, no Governors received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 August 2024, expenses totalling £ 2,473 were reimbursed or paid directly to 4 Governors (2023 - £1,764 to 2 Governors ) for travel.

Mrs J Preece, the Deputy Heads wife and Mrs S Gross, the wife of the Head of Manor House, are employed at the School under standard contracts of employment and under the appointment of the Governors.

Page 29

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

11. Tangible fixed assets

Cost or valuation
At 1 September 2023
Additions
At 31 August 2024
Depreciation
At 1 September 2023
Charge for the year
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023
12.
Stocks
Stock
13.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 Freehold
property
£
5,142,653
-
5,142,653
978,342
92,367
1,070,709
4,071,944
4,164,311		 Fixtures and
fittings
£
686,939
175,465
862,404
420,975
74,741
495,716
366,688
265,964
2024
£
51,295
2024
£
139,125
14,261
58,902
212,288		 Total
£
5,829,592
175,465
6,005,057
1,399,317
167,108
1,566,425
4,438,632
4,430,275
2023
£
62,056
2023
£
125,499
11,597
79,274
216,370

Page 30

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

14. Short term investments

Term deposits
Short term investments represent term deposits invested on 95 day terms.		 2024
£
3,423,925		 2023
£
1,557,653

15. Creditors: Amounts falling due within one year

Trade creditors
Fees in advance
Parents' deposits
Other creditors
Accruals
Deferred income - Fees in advance
16.
Creditors: Amounts falling due after more than one year
Deferred income - Fees in advance		 2024
£
99,610
588,330
170,923
-
68,961
927,824
1,810,772
2,738,596
2024
£
541,718		 2023
£
115,798
1,277,297
158,551
56,577
130,249
1,738,472
-
1,738,472
2023
£
-

Page 31

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

17. Deferred income - Fees in advance

Amounts may be paid to the school up to the equivalent of 9 years' tuition fees in advance. The money may be returned subject to specific conditions stated within the scheme literature.

Assuming pupils will remain at the school advance fees will be applied:

Within 1 year
More than 1 year		 2024
£
1,810,772
541,718
2,352,490		 2023
£
-
-
-

The balance represents the accrued liability under the contracts. The movements during the year are detailed as follows:

As at 1 September 2023
Fees received on account
Utilised		 2024
£
-
2,352,490
-
2,352,490		 2023
£
-
-
-
-

Page 32

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

18. Statement of funds

Statement of funds - current year
Unrestricted funds
Designated funds
Bursary fund
General funds
General
Total Unrestricted funds
Statement of funds - prior year
Unrestricted funds
Designated funds
Bursary fund
General funds
General
Total Unrestricted funds
Designated funds - Bursary		 Balance at 1
September
2023
£
100,000
6,924,877
7,024,877
Balance at
1 September
2022
£
100,000
6,449,929
6,549,929		 Income
£
-
7,167,168
7,167,168
Income
£
-
6,438,780
6,438,780		 Expenditure
£
-
(6,216,457)
(6,216,457)
Expenditure
£
-
(5,963,832)
(5,963,832)		 Balance at
31 August
2024
£
100,000
7,875,588
7,975,588
Balance at
31 August
2023
£
100,000
6,924,877
7,024,877

The Governors have designated £100,000 of the 2021 surplus to a designated fund to be able to provide bursaries in the future.

Page 33

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

19. Summary of funds

Summary of funds - current year

Designated funds
General funds
Summary of funds - prior year
Designated funds
General funds		 Balance at 1
September
2023
£
100,000
6,924,877
7,024,877
Balance at
1 September
2022
£
100,000
6,449,929
6,549,929		 Income
£
-
7,167,168
7,167,168
Income
£
-
6,438,780
6,438,780		 Expenditure
£
-
(6,216,457)
(6,216,457)
Expenditure
£
-
(5,963,832)
(5,963,832)		 Balance at
31 August
2024
£
100,000
7,875,588
7,975,588
Balance at
31 August
2023
£
100,000
6,924,877
7,024,877

20. Analysis of net assets between funds Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
4,438,632
Current assets
6,817,270
Creditors due within one year
(2,738,596)
Creditors due in more than one year
(541,718)
Total
7,975,588		 Total
funds
2024
£
4,438,632
6,817,270
(2,738,596)
(541,718)
7,975,588

Page 34

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

20. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
4,430,275
4,333,074
(1,738,472)
7,024,877		 Total
funds
2023
£
4,430,275
4,333,074
(1,738,472)
7,024,877

21. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
22.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2024
£
950,711
167,108
(166,661)
10,761
4,082
(810,648)
155,353
2024
£
3,129,762
3,129,762		 2023
£
474,948
170,097
(70,262)
(4,428)
(29,271)
313,854
854,938
2023
£
2,496,995
2,496,995

Page 35

BEACHBOROUGH SCHOOL TRUST LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

23. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Liquid investments		 At 1
September
2023
£
2,496,995
(158,551)
-
1,557,653
3,896,097		 Cash flows
At 31
August 2024
£
£
632,767
3,129,762
(1,823,144)
(1,981,695)
(541,718)
(541,718)
1,866,272
3,423,925
134,177
4,030,274		 Cash flows
At 31
August 2024
£
£
632,767
3,129,762
(1,823,144)
(1,981,695)
(541,718)
(541,718)
1,866,272
3,423,925
134,177
4,030,274
4,030,274

Debt due within one year and debt due after 1 year relates to parent’ deposits and the payment in advance scheme.

24. Capital commitments

There were £Nil capital commitments at the year end (2023: £Nil) .

25. Pension commitments

Defined contribution pension

The school contributes on a defined contribution basis to personal pension plans. Contributions totalling £625,570 (2023: £507,074) were payable to these funds for the year.

There were unpaid contributions of £Nil (2023: £55,909) at the year end.

26. Operating lease commitments

At 31 August 2024 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
13,037
16,504
29,541		 2023
£
8,908
9,281
18,189

Page 36