**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 Independent Schools Council
- The Association of Governing Bodies of Independent Schools
- The Independent Schools’ Bursars Association
- The Boarding Schools’ Association
The Head is an active member of:
- The Independent Association of Preparatory Schools
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
- U11 boys rugby team winning the IAPS Rugby festival, held at Rugby School
- Equestrian riders qualifying for the Hickstead Eventing Championship
- Three students qualifying for the IAPS National Swimming Championships, held at the prestigious London Aquatics Centre in the Olympic Park, with two going on to qualify for the finals
- Four children qualifying for the National Prep School Athletics Championship held at the Alexander Stadium in Birmingham.
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:
- The Beachborough Goblin Racing Team, who in July 2023 celebrated a second victory at Goodwood beating 70 other cars to finish in 1st and 2nd place.
- The Robotics team securing a place in the UK National Final of the First Lego League Challenge.
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 School’s sports facilities are regularly used by the local community, including the local badminton, football and cricket clubs.
- Local primary schools are regularly invited to use the School’s facilities, including the expansion of annual Creative Technologist’ Innovation Programme.
- Links with local primary schools enabled a number of sporting tournaments to be arranged, providing wider access to our playing fields and all-weather pitches, most notably the Primary Schools Cross Country Race.
- Hosting of the termly Early Years Foundation Stage Network Meetings, which bring together teachers from local state schools and nurseries. Through this group, the School is exploring ways in which Beachborough School can further support local schools and nurseries on an ongoing basis
- The School and the children have worked closely with the local community, supporting Remembrance Day, providing concerts and events and through outreach and charity work. Highlights included a Halloween event for local families and Christmas carolling for senior members of the community
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:
- Formal agenda for Governing Body and Committee meetings
- Strategic planning, budgeting and management accounting
- Established reporting lines
- Formal written policies
- Authorisation and approval levels
- Vetting procedures as required by law for the protection of the vulnerable
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:
- Detailed terms of reference together with formal agendas for Committee and Board activity;
- Strategic development planning, reviewed annually by the Chair of Governors and the Leadership Team;
- Comprehensive budgeting and management accounting;
- Established organisational structures and lines of reporting;
- Formal written policies including clear authorisation and approval level;
- Vetting procedures as required by law for the protection of the vulnerable.
The Governors regularly review the effectiveness of the current plans and strategies for managing all identified major risks for the School.
## **FUTURE PLANS**
- Continue developing the digital strategy to retain Microsoft Schools Showcase status.
- Review and enhance the Beachborough skills curriculum to strengthen character education, equipping children with the knowledge, skills, and learning behaviours for success.
- Establish a progressive, skills-based outdoor learning programme that is embedded into the curriculum through dedicated lessons
- Achieve the Eco-Schools Green Flag award.
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
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:
- so far as that Governor is aware, there is no relevant audit information of which the charity's auditor is unaware, and
- that Governor has taken all steps that ought to have been taken as a Governor in order to be aware of any relevant audit information needed by the School’s auditors in connection with preparing their report and to establish that the School’s auditors are aware of that information.
## 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
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## **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:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Governors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Governors' Report has been prepared in accordance with applicable legal requirements.
## **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:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Governors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **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:
- Land and buildings 1-10% straight line - Fixtures and fittings Over 3-5 years
## **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