R•gl•lw•d numb•r: 01067862 Charfty numb•r. 309911 THE BEACON EDUCATIONAL TRUST LIMITED (A company Ilmlt•d by guarantee) GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 THE BEACON EDUCATIONAL TrUST UMITED IAcomp•ny Ilmlt•d by guarant•• CONTENTS R•f•r•nc• and admlnistrth• d•tslkn ol th• comp•nys Its Gov•mors and •dvlMrn Gov•rnorn' r•port Govemov8' reAponslblllllu •t•teme Ind•p•nd•nt •udltorfs r•port on the fin•ncial •tat•m•nts ststem•nt of Iln•n¢lal •¢tiviti•s 10-13 14 Balance *h••t 15 st•t•m•nt ol ¢a•h Ilo 16 Nots• to th• ffinan¢lal •tat•m•nts 17-35 THE BEACON EDUCATIONAL TRUST UMITED (A ¢omwny Ilmltsd by qu8r•nt•t) REFERENCE AND ADMINISTRATlliE DETAILS OF THE COMPANY. ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 Gov•movs D C L Miller. Chair FEM Wew. V￿e Chair3 M Thcrfnpswt. Vi¢e Chair4 G L BwleyJ,s M EntriC8n2 V Fawkes2 S Gilam {r￿ne￿ 31 Dacember 2022)2 R Hert￿rt1 S Htyro¢W4 P McGlonei A Nott Ire5igned 2 Fe￿ 2023P J E Ramwn1.3 8 Shah1 A Wanthqh4 D Thoker1 J Avls8 (apprAnted 24 20Z3)2 Member ofthe FinarTh General Purkx)ses Ccmmittèe 2 rfthe EdU0xtic￿ Ccrfnmiite Memb8r of Ihe Admission$ and Market1￿ Committfje Member of the Human Resourc*$ Committee S Mwnber of tho Heallh Safety Conwnthe Company r•gl•t•r•d number 01067862 Ch•Ylty r•gist•r•d numb•r 309911 R•glst•r•d offl¢o Chesham Biys knersham Bu¢klnghamsNre P6 SPF C¢ynpany s•u•l•ry F Mu21ka Ornc•vs N R 88ker 8A (Honsl PGCE. The Hèadmastsr F Muik8 Dirtttor of Finance & Opwati￿$ H J Farrety. Clerf( lo Ihe G￿rn[￿r8 Ind•p•nd•nl audltor Cr[￿ U.IQ LLP Aquis House 49-$18law8ve Street Readlng Berkshire RG1 1PL Page 1 THE BEACON EDUCATIONAL TRUST UMITED (A company Ilmltsd by gu•rant•• REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMP¥lNY, ITS GOVERNORS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 8ank•rn Nalional Westnwnster Barth rAc Oakfi8ld Com8r Hill Avern knersham Buc*irwJhamshire HP6 58U Page 2 THE BEACON EDUCATIONAL TrUST LIPAITED (A company Ilmit•d by guarant••l GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The members of The Beacon Educalional Tmst Limiled lknmK)g Bc*ly wesent their annual report thè year ended 31 August 2023 under the Charities Act 2011 and the Companies Act 2006. thus induding the Directors, Report ond Strategic RetKKt under the 2Cth Act, togelher ￿ ihe audited financial ststements for the year. The members are tlirectors. Truytees and Goverrnrs and these terms are all used wlthin thKs report. DIRECTORS. REPORT Con•titutlon and ObJ•cts The Be&on EducalKThI Tw¥t Limited is a ¢harrtable [￿panY limited by guarantee. Its Charity r8gi5trati(x) nurnber is 309911 and the company rfjgistrat￿)n number is 01067862. The r8gislered office and prinupa address of the Company is Amersham Road. Ch8sham Bois. knersham. Buthn9hamshire, HP6 SPF. The ￿MPanY kg governed by its MemoraThJum Artides of AssticiatA?n, whth stsle that its obj8cI is advance the 8du￿tion of the puNic. In furtherance thereof. the company operates The Beacon School, 8 preparatory school. Alms. Ob￿CtIveS and Actlvltles Alms The Beacon aims to inspire boys to ach*¥e their best wrlhn a happy, safe and stimulating environment. oviding educabon of the hwJhest qualty ddbvered by earing arvj dedicated teathers. To achigve this. the Sch)ol continues wth the supwi of par8nts to: Promote hyh standards of academic achievement th1c￿h cg)nsistent expectation and encouTagemenl. Nurture tslenl and wo¥￿Je opportunity for aN in Ihe areas of art. drama, music. sport and technology. Enable wpils to develop the soc4al arKI emotional sknlls ne&Jed to believe in themselves. to show Co￿￿eratiOn for other5 arKt to yak￿ dNetsity. Foster ￿felOng IhwikiThJ. leamkng and communication skills to enable pupi15 to work ￿￿&PendentIY and 88 part of a team. Prfm8ry Objedlves Key elements of the sch(￿￿¥ strategy aAe to: Malntain a broad ￿lrI[cUluM that is directed ttrwards independent arKI Irlelong leaming. Uphold tho Iraditional values as80c4ated *rylh preparatory education, through its pastoral syst8m, whilst en$urirvJ that pup1$ are taught the 5kbls and knTh4edge tsy wll need to m8et the thalleng05 of the changirrfJ wryld. Emb8d inf(YmatAM tgchnokw into ￿ cuniculum as the prfWI means ofenhanclng leaching aThJ leaming. Provlde and improved existing ￿￿￿dIr￿J5 and otherfacikn'es to SUPF#Nt the educallonal, cuttural and pastoral aims of ltte Sc1K￿. Gov•manc• and Man•g•mnt Gov•rnlng Body The directors serve as trustees ol Ihe Charity and under the terff6 of the above Artides are also members of the company. Each dIrert￿ i8 elected by the Board of directors on the basis of nc*ninalions received from serwng directors, Ihg headmaster a￿1 others. Dire￿￿$ are selected on the basis of their thlls and suitatylity. Thè chairnan of th8 Board is resFon%ble for the iTrJuclton of new directors. which indud8s maknng them aware of their respmsibilities. the govemiThJ documents. admini8trative procedures. the history arKI phrfosophical approath of the c¥)mpany and pyovk)￿ annual ret¥Jts and acoyJ)ts. Every director Vett￿ for safeguarding purposes prior to appoinlment. Page 3 THE BEACON EDUCATIONAL TRUST UMITED (A company limltsd by guarantse GOVERNORS. REPORT (CONTINUEDI FOR THE YEAR ENOED 31 AUGUST 2023 The first temi of office for a director shall be: (a) for an ex officKJ director- *thile ￿ or she holds office. and Ib) for other Directors - three yFars', provided that the Directors may detemiine that the Oirector shall in fact retire al the eThJ of B meeting of Board of Directors hekj wiU)in h4Elve months of the end of the Directorfs tenn of office. A Direclor who has served Iwo consecutive 18rms of three years may ￿ reappointed ft>r 8 further term not exceeding Iwo years rf the Board considers that the Directorfs reappointrnent would be in the best interests of the Charity. Al the end of thal lefm. the Director may be reawcintod by ￿ Board for a further term not excoeding 2 years, subject to the same ry)nshJeTab"ons. and may bo appointsd for further terms {each l&rrn not exceeding 2 years) thereafter on th8 same bags. A retired Dirgctor may b8 reapwinted to hc4d office. providod that a year has elapsed since he or she last hekj offi¢0 as a Director and provKled that Ihe Bowd considers that it would be in the best intsrgsts of the Charity fLY him or h8r to be 01￿$ble for reaprxHnlmenL The directors u5ualty meet as a Board three or more times per to determine pdicy and lo monitor 0￿rationS of the company. Their rc4e is assisted by Ihe work of tho Board Cornmittees which usualty meèt a few weeks before each regular meeting of the Board. The da￿tTrdaY running of the School is delegated to the headmaster who. with the Director of Finance and Oprations I'DFO"), is assisted by oth&r members of I School leadership learn. Employment Pallcy The School sup[￿ts the attainment of the hwJhest stsndards of educatK)n through rigofOUS and continuous evaluation of quality and perfom*nce. the applicati￿ of best pra￿e and 3 widespread desire lo improve standards. The ScFwxl rymyefates kx41 organssat*)ns to widen wblic access to its facilities. The School is an equal opFx)rtunities employ. FL￿1 and fair consideration ￿ given to ￿)b applIc8￿on$ from persons wth protected charactsrislics and due o)nsideration is ulven lo their training and employment neèds. consultst￿n wth employggs continuos on an ongoing basis with the aim of taking employaes into account when dedslons arg mado thal are likdy to affect th9ir interesi& R•mun•r•tk)n Pollcy for Koy M•naym•nt Remuneration of the headmaster ar￿ Ihe DFO is set by the Rèmunerati￿ Commlttèfj after appropriats consuttali¢)n and ￿Chmark1r￿j in order to ensure Tgcruitment and retentlon of qualty staff. PROVISION OF INFORMATION TO AUDITORS Eath ofthe persons who are dlrectors at ts time when this Rerx)rt is approved has ￿nfIrmed that.. $0 far as that direc*)r is aware, there is rKJ relevant 8￿j11 infomwkn ofwhlch thg School's a￿￿110[5 are unaware. and that direc*or has tsken all st9ps Ihat ought to have been taken as a director in order to be aware of any relevant audit information needed by the SclKJol'$ auditors in ￿nneCtIOn with prepariny their report and to estai4ish thal the s(*￿1.8 authttys are awe of that infoThnakn. AUDifoRS A resclution proposing the re4pwintment of Crcme U.IQ LLP as ahjilors to the company ba pul to the Annual Gener81 Meth'ThJ. Pagg 4 THE BEACON EDUCATIONAL TRUST UMITED (A company 11ml1￿ by guarantse) GOVERNORS. REPORT ICOPrnNUED) FOR THE YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT MIMion Slal•m•Trt The schC￿,s mission is to irwire ￿yS to achieve their best within a happy. secure and stimulating environment providing education of the highest qua￿, delivered by an enthusbèstic and ¢(￿Mitted team of t8ach8rs and 8taff. Stratog1￿ lo A¢hlove th• Pflmary ObJ•c To achievè this aim the Scho(A will. wilh the support of parents.. Promote high standards of academic achievement thrwh consistsnt expectation and ancouragemenl. Nurture talent, provide opwrtunibes for aN. in the areas of art, drama. music. sport and techno109y. Enable pupils to devel¢)p the srxial and en)ot*)nal skills needed to bdieve in the￿￿81￿￿. show consKleration for others and Va￿ diversity. Foster lrfebng thinkirvJ, leaming ar#1 communlcation skHls to enable puplls to work independently and as part of a team. A¢hlevem•nts and Porfommnce The strong roll and interest in the 5ch(d the degree of satisfaction and TepLrtatton of The Beacon in the k)cal and regional mafkeL Senior exit u)ntinues to refiect the academic achievements of the boys wth the s(knoJ marntaining ts positlon as the largest feeder lo the kJc81 state grammar, Dr Chalk)nerfs {221 and the local independent day option. Berkhamsled 1211. Six tws were successful to other grammar sdKJois, niné to Ship18ke. four lo Merchant Ta￿or$., tw to Re&Jing Blue Coats and 12 to other iThlepeThJent and stats schools. 14 boys were succassfvl in gaining pl8e8s lo ind6tetht boarding s(*oob. A total of 18 scholarships wèrg awar(18d to boys across a rango of areas: Ac&lett￿¢. Sport Drama. Musi¢ and own tochnc4)gy. Across the schocl, t￿y5 in al groups have beèn SLKcessful in exlem81 competit￿)nS winning Maths Toumaments at senior sthools Merchant Takn. and Shiplake, arKI won prizes at the Rotsry Art. Photography and Technology compatrtions. The U11 Chess Team cama first and secmj in thetr ￿gIOnal heat and seventh ovgrall in the National finals. Cfver 40 ￿ p*Kipated in the national Tchvnsend Warner History prize with four placed in the top 50. er 300 boys r8ce6ve peripatetic music arKI LAMDA lessons and have been awarded numerous ABRSM and LAMDA cerbfication. inthding many 'Distrctions'. Hundreds of I)0￿ have 5uThJ and perfom)gd as part of fhe annual choral aThJ dramatic performance programme and ¢onlinue5 to be a ￿gnffjcanI strength of the $chool. The U11 Hockey T¢am competed in the Nattonal IAPS Finals. th6 U13111 Ski Team were awarded sllver medals In the ISPA Ski Champtonships. the Swm Squad won the 8ucks Leagu8 ar)d had the National U11 backstroke champlon. The school was 6th overau in the National Cross County ChaMP￿￿h1p5 and continue to be a force in all sports al a local. regKfflal aTrJ national level. Page 5 THE BEACON EDUCAnoNAL TRUST LIMITED IA company Umlt•d by guarants•l GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Capltal prgJg¢ts The Sc**ool has invested ￿b$lantIal caritsl exp8ThJilure on m*ntaining and updatiry its site a￿1 facilities over the year. A refurbished arKI equipped ICT (part furKled by Ihe Parents. Sooetyl and Music Technology Suites, replacement of the Astro Turf. improving pathways and generdl acc8ss ar(MJnd the Srte, and installation of air conditioning units sland out as vtsible proiects am(xvJst many other 8s$8ntial updates and malntenance. Pro5ecting 10Th￿rd. th6 Schwl has a defined programme of site improvoment with a particular focus on a new roof for the Sport5 Hal and rofurbishm8nt lagain in conjunction wrth the Parents, Society) of the Cooking and Nutrition The srthool is currnnty ¢onsidering its with regard to its propetyi$ite al 21 Amorsham Road. Publ1¢ 8on•llt Bursarles and Scholarshl Th• Governors continue to be committed to broadening access to the SCW by offering means48sted bursaries of up to 100% to enable more boys *those parents would not otherwise be atAe to afford the fges lo benefit from the Schthjfs education and faclities. In 2022123. nine boy8 in the s￿￿ benefiled from 100% fee bursaries. on8 from 80% and one from 50% bursary, lo a total value of £181.116 (2022.. £105.486). TW burs8ri8s also cov&reO all reasonable educational extras, such as uniform, equipfflenl. Schod trips aNI other extraoirricular al*￿ties. 8•a¢on Bur*•ry Fund The Beacon Bursary FuThJ is a Charity set up arnl run Independenty of the Ssthool, by six trustees. Ils purpose is lo assist wlh hjnding for the education of pupils of The Beactsi sch￿1. whK¥se parents eneounler flnancial drfficvlties. and who might othwwse havé lo Wilhdr￿ their son{$l from the Sthool al a time detrimental to their educab'onal progress. Thfr fund deriv￿ rts income from parental thmations. gift aid and investment income. In 2022123 financial assistance lo the value of £nil (2022.. £16.397) was given by th& fund, recently Ihe ￿ previou8 years having been hea￿lY im￿9d by the pandem￿. C¢)mmunlty Llnk• The School co-operates wth kxal c*arit￿ and communty based organ￿tic￿S in order to widen public acce$$ and lo share its cultural and sporting faolities. Effwts witinue to daveb)p ond expand in this r8spect. In parti￿lar, the Schoofs facilit￿ are offered for mtsjest rents to h)caNy based dub5. arKI the Schc(4 h¢)sts sporting and academic cofflpetitmms Ni vthich SdKK4s participate. Free use of the $d￿c1'S swimmirwJ pod has continued to be provbjed F*)rfoon Sports Club. ¥ local disabled children's sports charity. There Is a conttnu•d focus on suptxxt vm fro8 use of the schcx)I's fac41tli6s to The Theatre Shed whose vision is to buikl a sustainable the8tre that briros together many MO￿ chiklren and adults from a range of backgrounds lo create w(￿derfUllY innordtive. irw"nng. wJUsr￿8 theatre. In August the Sch(x)I fund8d for the second ￿ar a fortnight's Surnn￿r camp fre8 of charge for 30 children of Ukrainian refugee families bewvJ hosted locally. ind￿ling transwjrtsknn. Th8 Schwl is afways keen lo maintsin a gcth working relati￿ShIP wth tha netghbwmg aThJ th8 local mmunity. In addibon. the sclb)of has hosted tea parbes for local vgterans. Pag8 6 ThE BEACON EDUCATIONAL TRUST LIMITED (A Company Ilmit•d by guarnnt•o) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Charftablo Fund Ral8lng The School's orwrMJ commitrnent to tharitable fundraisir¥J has ContinL￿1 as demonstrated by events to support a number of nat￿￿01 charilies Inc1￿Y1r￿j NSPCC, ChAlem Toy Bank. Chiltem Focal 8tstements in aCwrdOn￿ ¥4ith 8FWic8ble law Unilell Kingdryn hu￿n￿n9 Standarf8 (United I￿n￿jorn Gentt￿ty httopted Ac￿UntIng Pr8cllcel. coMp￿Y law rwukes the Govomcn to prepwe fmnraal st•toM￿ts for eaL* fina￿al >*ar. iknder ry)mpany , lh• Govemrys must not ap¢vov• th• fiftanU￿ statemwls unloss we $8tisf*d that gve a and tsir of the state of affays ol th• ¢(*npany of ils reswrc*s #nd ¥pl1¢9t￿ of rtSCArn. r•quiT8d to.. seled suhblè accwnting poluos •nd then aFWy Iham C(￿81618n￿y. obsw8 the methods and Prin￿￿ ol the Ch8rltie5 SORP IFRS 102),. make judgments arKI aCc￿jntI1￿ esttmotes that arn reas￿01￿9 wvj prud8n(' stste vttsether applicable UK Ac£4yJnllng Slandards (FRS 1021 have been fdlv•Md. * *) any mater181 departures dlsdosed and exF4ainwJ in the finan¢i* 4*￿•)ts'. The Govemcn r88PCYt8lt4e for koepiThJ adequat• •c¢wntNig roc4)rd$ th81 ar8 sufficaenl lo show and explakn tho companys transadlon8 gnd di8close vAth reasona￿t acujracy al any tim8 the financial po8bts.on of th crjmpany ar*J enable thgm to ensure that Iho Ilnarthl ststemerts cc#npty wlth Ihe Ccthpaniej Act 2006. They ar• also TesFrt)nSi￿O salaguarding the as￿18 of th• ¢￿panY and tr￿¢? fcrf laking r•asc4)•ble steps lor the ThE BEACON EDUCATIONAL TRUST LIMrrED (A company Ilmttod by guarnnt••) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ThE BEACON EDUCATION*L TRUST LIMITED Oplnlon We have audited the finantsal stataments of The Beac(￿ Educational TnJ* Limited (the,charilab￿ conwany) for the year erKl8d 31 August 2023 which cm)PTtse the Slatement of finanual acti￿1￿*$, the Balanc8 sh881. the Slatement of cash flows the rdated notes. Induding o Summary of $vJnifi¢ant accc4Jnling PG4ides. The ffnan¢ial reporting framework that has bogn apF4ied in their preparatlon 15 appliCat￿e law and United Kingdom Accounting Stsndards. Ir￿UdIng Financial R8porting Stsrbjard 102 The Finantial Reporting SIw￿4rd applicable In the UK Repu￿1¢ of Irew (United Gwwally Accepted Acctyjnling Practice). In our wnlon the financial slatwnents.. give a true fair ¥18w of the slate of than1￿0 companls affairs as al 31 August 2023 aThJ of its incoming r880urces aThJ 8PFAlcaliffi of resour￿$, induding its inc(*no and exp8ndbturv for the yyar then ended.. have been prcpety prnpared in accfxdance *ith Uiut8d lfjn9d￿n Gener8Uy Accept•J Ace(wnUng pra￿lCe.. and have been prepared in ac¢xJrdanc8 the rEquirenwts of the Companies Act 2006. Basls for oplnlon We conducled cmjr audit in accc*dancè with IntwnabcAMI Standard$ on Audillng (UK) (ISAB (UKI) and applk8bl8 law. Our responslblllb'es under those standards are fvrther described in the Auditorf5 respon$ibilitl8s for the audlt of the finanual statemonls section of our re￿1. We are independent of th• tharitsble company in accordance wlth the èthical requirements that are rel&vanl to audrt of the financ4al stalem8nts in the United Kingdom, Including the Financial Repcliing C￿nc￿'S Ethical Stsndaftj, and we have fulfilled other ethlcal responsibilllies in accordance with these requirements. W8 beli￿ that the audit evidence ￿ have obtain8d is suffioenl and arpropvbgte ￿ ￿d? a basis fLY (wr Or*¥¢￿. Conclu8lons r•latlng lo golng C(￿c•M In audiling the fmanc4al statements, have C{￿￿L￿d that the Govemorn. use of the goirva concern basis of acctyjnling in the preparatIC￿ of tho financTal stat￿nIS is awcwate. Based ￿ the work ￿ have p8rfcffiied. ￿ havo not mIenti￿ any ma￿181 unr￿tainl1•S rnlaung to ovgnts or ditions thal, Indi￿d￿allY or c*lleclively. moy cast stgnificant doubt M the tharitable companys abllity lo continue as a going conc8m fry a wiod of at least Iwelva monlhs frryn when Ihe financial ststements gre 8uthor15ed for iS$L￿. Our ￿Pon￿bI￿￿e$ and the reSp(X￿￿1￿￿es crf the GO¥eM￿ *ith re¥pwX to golng we desuibed In Ihe rèlevant Sec￿n$ of trM8 TeF#NL Page 10 (A¢tyhyw Ilrn*ad by guarnnt••) INDEPENDENT AUDrroR'S REI>ORT TO TrE P*118ERS OF THE BEACON EDUCATIONAL TRUST LIAITED ICOPrnNUED) lJth•r Inforn￿lIon The other infcffmation the irtrymatw)n induded in Ihe knnual repurt othgr than tho firsancaal stslemerrts and our Auditots repc*t th￿￿. The are resFthsible Ihe othar inf0mialic￿ contained wlthln the Annual reporL Our opinion on the fnarKial Statem￿ does not (v4er the other irrformation and, except to thè extent othep*is8 exrAiciUy staled in rep)rt vo do not •Nw8ss anYI￿rn of a55uranc£ condus￿ thereon. Our sponsiblllty Is to read Ihe olher 1rfomiati￿ JKI. in doing so. cainsider whethw the olhor inf(￿atic￿l Is matsdalty In¢ong$lent wlth the finonLio1 slatements obtaln8d In the cwrse of the audlt. or fAhfjvhis• app8ars to be materialty misstated. id￿t￿Y Materi￿ incons*￿yeS or app*ent m81erial ffliSStatements, ￿ are TeqLured to deterM￿e whelhtr thi8 gNes li￿ to a ma￿la1 mi55tataiient kn the finan(xal $tslemenls themsefves. 11. bas￿ ￿ the have perfcMed. CAindude that there is a material i551aternent of oth￿r IrrfcrfM￿D￿, ar¢ requlrgd to rgp(*t th* f•* We h8v8 rthiry to rewt in Ihis rs￿d. the information given ￿ the G0vwn￿s. repyt ￿d￿jIng the StrAtagic rewrt fy the fnan&al year for which the flnanclal Stat￿nts are prepared ss wlh Ihe fmanc4al statements. th8 Gov8rnors' rop(xi a￿1 Ihe Stra* rewt have be￿ wepwed in accIYdan￿ wilh apph'c*t40 legal Matt•rs on T*hl¢h w• arn w•qulr•d lo r•port by •x•l In the thght of our kno%4edgo Ihg dwit* cl￿pa￿ its enthmw* Obta￿ad In the Jjrse ofthe audK ￿ hamp nol ￿J￿ed rrthial ftrri59takn)ents in the Govwncrd. Tewl Incbxting the Str8tsglc rgporL We have nottlng to reFrfXt In WESp￿* of malters in relaliw to vhxh Cryries Act 2fX16 r•qulres us to report lo If. In w op*)lÈ%): •Jery*e att￿ntIng recL*ds haN* beth) r8twn$ 8d•wat8 for our audit have not t¢eh received frum bran¢hes r#)t visitad by us: ( the finanrial statemerts are in a￿n￿t ¥J61h thè rep)rds WKI retu￿ or R••p•MlbHlllo8 ¢ltru* As 8W8in8d mLY8 fulty kn G￿￿￿¥¥. re5F￿kn ststwnen( the Gty4emvs also the dlTeCtors of the charitable ￿rnpanY for the purFKWS cl L•v) respxsSbbg the wewation of the finaniyal slatements and for belng satisfied that tr*y gfvo a tsua fw and for such inlemd contrd as the Govemln detemlne 1$ necessary lo enat4e the of fin￿{la1 Statem￿ thal are fr8? from mate￿1 mi8Statwi¢rt *thether due to or ernr. In preparing the finanryal stsIem￿ts, the Governorn •e mKffi8lble tr assessing Ihe (*￿Ttable ciJnpanl$ abilty io (￿tinue as a goiry c<￿¢￿￿, disdosiThJ, as ar4￿k￿lIe. mallus related to goirwJ concem and uslng lh8 goirwJ concem baBi8 of acC(￿r￿ing urkn Iho Governors wtr*er to knwid#te thè tharltabl8 0)mpany or to cease operalons. (* have no realislic aftwnauve lyjt to do $0. pa￿11 IA comw Ilffllt•d by gumnt••) INOEPENDENT ￿jr#ToR's REPORT TO THE IAEM8ERS OF THE BEACON EDUCATIOM*L TRUST UMITED ICONTINUEO Audltsrf• v•spon*lblllll•• fwth• audt of th• fln￿￿ st*l•Tr• from malww mlsstat•rwt. to fraud or •ffor. and to Issu• an Auditc¢s rep￿ that Indudes our oplnion. Reasonable 8$surance is a hi￿ 18vd of auurance. Imrt 1$ not • guarantee Ihat an oudlt c￿dUded In rdanGo ￿ ISAS (UK) detect 8 matertal misststem8nt V•then it exists. Mi8statemonts can ariso from fraud or eThor and arn considored Mate￿&1 H. indthduaHy or ￿ the 8ggr•g8te. they crMJlO r•ason#bly be 8xpoct8d to Influence the oconcthc d&isi(m of u8•rn takw on the bads ofble•e IlnarKI81 *atements. Exl•Tht to whl¢h th¢ •udlt w•B ¢￿[d•￿ up•bl• ol d•t•clkng kngulwlll••. Indudlng hud Irregl￿all1ie$. indudirwJ frnud, we wtst8nce5 al *ilh la￿ and rtyulatpJns. We Identifiod and •ss•s8ed th8 rtsks of m8tert41 m15stat￿￿ of the statements from Irr•gulariti•s, ￿h￿r duo lo hud *x emx, and diswssed those bets¥een tyjr outhl learn members. W• designe(1 8nLI pwlomiod audll pro¢edurgs respwsiwa lo Ihow risks. irw*Kling aKlil 8viderKe suffid￿t aThl awr0￿81• to prthide 8 basis for our opirucffl. We obtslned an understandlng ol Iho rewl8W framththg th• thant•bl• company operates. focusing laws a￿1 wula1b￿S lhat ha¥0 a dY•¢t 8ff•¢l ￿ the detemiination of matwial amounts disdoswos in Ihe financia #ate￿￿1$. The aThY rogulgtKm V•Y In thi5 context WW8 the CCrfnp￿ieS *£t 2(￿. Chariiies AL* Ilwhw *ith the Chariti85 SORP (FRS 1021. We 88ses8gd the statement items. In a￿d￿b. we consd•rfjd provlsKJns of ott1gr laws and regulations that do not have a dir8Ct effact ¢)n thg flnandol 8tatements but cornpllance ¥thith rn￿ht be fijndamental to the charitabbe cornpanl8 atlkty to cperale or lo avoid a matsdal penalty. We also con$K￿ thtr and Ir￿￿1Ve$ that May exlBt th• tharitsbl• company for fraLM1. Th• and rngula1￿•)S ** Cc#wde￿ In this ctytext IN Ihe UK q)tr8b"on8 were The Educaticffj (Independ￿1 Schtrs StsTrJ8rd8) RogLtstw6 2014. Hoth WKI Safety Genw8108ts Protecllon Rewlatth¥. P&wJthg stsrthrds limit th• required proc•￿18$ to *J8nlify nCmG0m￿Ian¢8 wlth these Iw4 and ragulat￿$ to rrf the GO¥￿ ather manag•menl Inspecti￿ of rngulatory and The greaté8t r18k of material impact on the fH)anual stalemonts is frcffl ifregularilies. includiry fraud. lo be wllhln the thnlw of recognlb'on of Mn.f•• hcom8. ovwrkY• ol (￿tr¢I$ ty mwwant CXY audll wcc*dur•8 to respond to these risks Indude(l enquiri¢$ of monag•ment. and the FYwKe gnd General Committee abwt their own identification WKI assessm8nt ol the risks of wrylartes. lesting ￿ th8 posting of soumal$. sample testin9 on n(Trf•e inoTh. accwnkng estKnatsS lor bl•s88. rnwv•*lng rryulA th8 InI￿t Iwnttatt(Th 018n autht. there 55 * un8v05d￿9 rlsk th•1 we may not have detgded some fflatsrial misstatements in the fin8naal statements, oven we have woperty plamed and pw10m￿d our autht In accordance with auLlling 8t•nOards. For examrA•, the (urthtrr rerrK)v•d n￿¢(￿n[Alar￿? ￿th L4V•8 aTrJ regulallon8 {Irregu18rlllesl1g from the eV￿ts and traf￿¢￿ rellected Ni the finarthl slat•)xnts, Ihe lèss likely the inhorenUy limited wc*edurns requtrod by •Ailirth3 8tsr#dards W￿￿1 id•nbfy 11. In add￿. as Wbth any audit. there r•m8ined a hh3h8r risk of r#Y*41•t•Cti￿ of irrngularilios. as thw may in4th cth1ufj￿. f￿. In1•nIk￿01 A further of r•spwth'lilI￿ frr th8 of th• fwwiiyol stat•m•nls 1$ localed on Flnond•l R8portiw C￿nCil,￿ **bgil• at .ukl . This fOrTh￿ part of QLr Auditorfs report. P40 12 ## **THE BEACON EDUCATIONAL TRUST LIMITED** ## **(A company limited by guarantee)** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST LIMITED (CONTINUED)** ## **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 Aquis House 49-51 Blagrave Street Reading Berkshire RG11PL** **Date: 28 March 2024** **Page 13** THE BEACON EDUCATIONAL TRUST UMITeD (A ¢omp•ny Ilmlt•d by guarant••) STATEMENT OF FINANCIAL ACTivmES ONCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023 Unrestrlcl•d R￿trICted funds funds 2023 Tolal funds 2023 Total 2022 Incam• from: Donations arKI legaues Charitsble activities.. Sthool fees receivable Anallary trading Income Other trading aCtiv￿Q$. Rent and facility hire Investfflonts.. Int8rè51 received 46.091 41091 78.764 8.671,387 204.283 ,671.387 204.283 8,574,317 151.326 21Q068 21Q068 196.570 67.751 07,751 5.867 Total Incom• 9.159,489 46.091 9,205.580 9,006,844 Exp•ndlture on: Raising fund¥ Charitable actswties 68.931 68,931 U88,565 28,090 8,236.060 Total •xp•ndlluro 8,957N96 8,957A06 8.264,150 Not In¢om• Tr8nsfers b8ts¥••n fund8 201,993 4&091 248.084 742,694 17 N•t mov•m•nt In lunds 201.993 46,091 248.084 742.694 R•conclllatlon of funds: Total lunds brought ftjpward Net movement in lund8 16078.300 201,993 19.1149 16,96f.349 48.091 16,224,655 742,694 Tolal funds caftl•d forw•rd 17,080293 134140 17.21W3 16,967,349 The Statement Offin￿rA81 xtsvittes Includes all gains wd kK8es recognisod in tho ￿r. The pages 17 to 35 port ofthe8e fffwidal stslements. Page 14 ## **THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 01067862** ## **BALANCE SHEET AS AT 31 AUGUST 2023** ||||**2023**||_2022_| |---|---|---|---|---|---| ||**Note**||**£**||**£**| |**Fixed assets**|||||| |**Tangible assets**|**12**||**16,279,117**||_16,768,350_| |**Current assets**|||||| |**Stocks**||**12,893**||_7,669_|| |**Debtors**|**13**|**2,217,367**||_1,848,318_|| |**Cash at bank and in hand**||**4,534,749**||_4,019,211_|| |||**6,765,009**||_5,875,198_|| |**Creditors: amounts falling due within one**|||||| |**year**|**14**|**(4,631,289)**||_(4,292,501)_|| |**Net current assets**|||**2,133,720**||_1,582,697_| |**Total assets less current liabilities**|||**18,412,837**||_18,351,047_| |**Creditors: amounts falling due afer more**|||||| |**than one year**|**15**||**(1,197,404)**||_(1,383,698)_| |**Total net assets**|||**17,215,433**||_16,967,349_| |**Charity funds**|||||| |**Restricted funds**|**17**||**135,140**||_89,049_| |**Unrestricted funds**|**17**||**17,080,293**||_16,878,300_| |**Total funds**|||**17,215,433**||_16,967,349_| **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 14 March 2024 and signed on their behalf by:** **D C L MIiier (Chairman)** **The notes on pages 17 to 35 form part of these financial statements.** **Page 15** THE BEACON EDUCATIONAL TRUST UMITED {A ¢omp•Try Ilmlt•d ty guarnntse) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Cash flow8 from op•r•tlng a¢tlvltl•• Net cosh v8ed in opern￿ng 8cti4fjbes 19 1,04V41 587.880 Cash flo￿ from Inv•sllnq I￿11 Dlvldends, Inlerests and rents from inveslments Purthase of langible fixed assets 283.819 (418,788) 202.437 (374,237) Not ca¥h umd In Inv•4tlng a¢llvld•• (149691 1171,JOO) Cash Ilows from ffinancin9 •cIfvItI•4 Repayments of borr0444ng Advanced fees utilised Receipts from advanced fee Interest paid 1206.556) (118,448} (418,486) (266.790) 240.232 (28.090) (68.9311 Net In flnanclng actMII•s 1393,9351 1473.134) Change In e•#h •nd cash •qul¥4lents In th• y•ar C8sh and cash equ￿alents at the beginning ofthe yaar 515.538 {S7,0541 4,07&265 4.019.211 Cash and cash •qulval•nts at the end of th• y••r 4,5¥749 4.019,211 Tha rths on pages 17 to 35 fcrfm part of thes• finanual statom8nts Pap16 THE BEACON EDUCATIONAL TRUST LIMrrED IA wnpany Ilmlted by guarnnt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 G•nwal Inforniallon Tho Beacon Ed￿￿t￿￿81 Trusvs winrApal actsvity C{x￿inU0d to be the pl￿$60n of a Day School for >13 year boy3. The Inco￿(￿ated Charity {Charity regigtratioft number 309911, Company r8gi8tralion number 010678621, 18 inc(wNatsd and domiol8d in Ihe UK and is a (wipany limitod by guarantee. Th6 addT&SS of the registsr&J office is kn•rsh8m Road, Cheshom Boi$. AJneTsh8m. Bucknnghamshlre, HP6 SPF. Accountlng poll¢l•* 11 B••l¥ of pr•p•ratlon of Iln•n¢lal stat•m•rbts The finanual statements have been prepared in ae£onlance with the Charities SORP {FRS 102) - Accounting and Rewrting by ChaTilies: Statement of Recommend*J Pr￿￿Ce appli¢abl8 to chariti•s preparing th*r aco)unts in acc¢ydance with th8 Finanaal RwJNb'ng Standard applicable in the UK and Re￿￿1C of Ireland IFRS 102) (effective 1 January 20191. the FlnancAal Reportin9 Stand8rd appli¢oble in the UK and Ropubli¢ of Ireland IFRS 1021 and the compan￿ Act 2006. The Beac￿ Educati￿al T￿￿t Umited mèats deffinthn of a benefft enllty under FRS 102. Assets and liabilities are inrfialty rec4)gnised at hk8torlcal cost or trans￿l0ft vahje unless otheTh*l8e Staled in the relevant aCc(￿n￿"r￿j pcAicy. 2.2 Golng C￿c•M The scale of effects on families and the Sc*ml. ec4Jnomi¢ and otherwise, In respect of Covid global pandemic. may have sub5bJed. however Ihe Intemaknal policitc81 landscape has slr beorne more unstable CLYrtrityJting lo the cost of liwrvJ iylsls in the UK. Howgv8r the Sthool has prepared conseryalive financd pKoiecai￿s for the nw ¢0 medium term which indicate thal even If Govemment restrlctitw fcrted Ihe sch(￿ site to dose agwn. ts School is financially wdl pla¢ed to wlthst&)d s￿h heathwinds. Hwng revlewed the fundkng facilitie$ avai￿￿0 to the School tr*Jether WTlh the expected on-going d8mand for ￿aCeS arKI the Schcrfs future prtieo*ed c*sh fitr•rt, thtr Govemcn have 8 reasonable expectati(￿ that the School has adequate resrMJrc08 10 ts)ntlnu8 hs actmties the fcKese8able futurè. Ac£ordiroty, Ihey C£￿tInue to adopt the gdTrJ con(xm basls In preparing Ihe financ481 stat￿￿ents. 2.3 In￿￿¢ AJI income is recognised once the company has entillèment io the Income, 11 Is wJbaLlè thal the income will be received and the an￿￿t of income recelvable can be measured reliebty. Amounts ljilled for termty fees and ex1rn ocbiryts•s ar• rncognisod as i1￿￿9 rnsourc•s when recelvable. knounts received wor to the balance sheet date for aubjmn temi fee¥ are recorded a8 fees received in advance. as ore amounts rewed for future fee periods under the fee prepa￿Tren1 sthfjm&. Foes rec8iwabla ar8 Staled after deduL*ing *rtAnces, bjrsaries and other rgmis%ons grwrtgd byth8 Sthod. Pag8 17 THE BEACON EDUCATIONAL TRUST uIArrED IA Gompany Ilmll•d by gu•r•nt•• MOTES TO THE FINANCI*1 STATEMENTS FOR THE YE&R ENDED 31 AUGUST 2023 A¢￿untIng poll¢l•• (¢onllnu•dl 2.4 Ex￿ndItur* Expendrtur• Is r•cognlsed ￿ce there is a18gal or construthe obfigotlon lo transfer eix)nomic benefit to a third paty. it is Fyobable that a tr8nsler of econcrfnic teneffts wll bg requira(l in $ettlement and the amount of the 0￿19atiOn can be meawred reliabty. Ex￿diture is dassified by activity. The costs of oach actiwty are made up of Ihe totsl of direct costs *)d sllared o)sts. includin9 SUPPOrt costs Involved in undertaking each actimty. Direct ￿$ts attT1bulab￿ to a Sing￿ activity are alkjcated directly to that actsvity. Shared Costs contribute to mora than one activity and support costs ￿lch aro nol attributabl8 lo a siNJl8 athty are apwtioned betsveen those activitb&s on a basis eonslstènt wth the use of resources. Centr81 stsff costs are alltsxtsd on Ihe basi% of time ¥p8n( and dewedatlon charges allo¢*ed on th8 porbon of the 855ef5 use. Expendlture on raL8ing fijnds IndUd￿ 811 exT¢nditure In￿rred by the company to raL88 funds for its charitable purposes and indudes costs of all fvndral￿n9 actiwties events antl n(￿-charttsb1e tradiro. ExperKll￿re on charitabl8 acliNilies is In￿rred on dkecuy undertakiry the activit￿ which fvrfhor thè cO￿￿nIS objectives. as well as ony os8oc#ated suppyt costs. Al expand￿j18 Is Ind￿Ve of iThecov8th VAT. 2.5 Int•rn8t ff•Mlvabl• Interest fwK15 held crf) doFWt is kndudeil wthon rgcdv*e and the amt￿1 can be measured liably by the company. thi5 is normally upcm notifical1c￿ of the int¥￿t paid or payable by the Insfjluoon wilh thè fun(ts are dep)5ited. 2.6 T•x•Uon The company Is considered to pas$ the tests set wt in Paragraph 1 Sd*dule 6 of Ihe Finance Act 2010 8nd th6ref¢)re it meets th8 definitsw of a charitsble ￿MpanY UK corporation tax Purposes. Accordingty, the cc*npany is polenlialy exempt fr￿n laxation In reSp￿t of income or capital galns rgcglved will¥n categ￿leS Covered by Chapter 3 Part 11 of the Cryporatw Tax Ac¢ 2010 or Section 256 of the T8X8tb)n of Chargeable Gains Aca 1992, to the extent that such incomo or gains we appli&J exdusw to dwltoble PLWPC￿. 2.7 Tanglbl• fix•d ass•ts T8ngble llxed 888ets &)8llro £500 u more are caixtsllsed aNI recognlse(l *then ft￿re economle benefits are pr(thNe the ¢￿t or vth8 oftho asset be mgasur•J rdlabty. Tanglble fixed assets are inrtially recognlsed al r3)8L After rectsJnillon. under the cost mc*Jel, tanglble fixed assets are measur&J at cost less ac￿m￿lated dewedatK)n and any accumulatèd impainnent losses. Al costs incurred lo bring a tangib￿ ffiX￿1 asset inlo its intended conditk*n should be luded In the m￿s￿•MOnt of¢05t Page 18 THE BEACON EDUCATIONAL TrUST UMITED (A ¢ompany Ilmlt•d by guarnnte•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcl•¥ {contlnued 17 Tanglbl• fixed •M•ts •nd I￿n￿nu•d) Dweclalon Is c*arged 80 as to alhxatè the cost of 18ngitAe fixad asMts less théir resldual vatue over their esllmatei1 u8efiJl lives. the straight4ine methcé. Frgghokl Lwilrfing5 Minorworks Motor vehide$ F￿l￿res. ffttings and equipment - Computer equipm8nt Olher fixed assets 2% straight line 10% slraKJht li 25% Straight line 10% straight line 33% straight lin• 2.8 Stock• Stocks a￿ valued al the k)wer of o)st and n61 realisable va￿6 after making du$ 8llowanco for obsolete and slovHnoving slocks. Cost indudo$ 811 direct costs and an apFffopriats pmporuon of fixed and v8rSatrAe overheads. 2.9 D¢btor4 Trad8 an(i other debtor8 are recognised at the sethement amount after any trade dbo)unt offered. PTepayThents w8 vahjed at the wnwnt Prepaid ￿t ofany trade disc￿nts due. 110 Ca•h •t bank and In h*hd Cash at bank and in hond Ir•*des cash and short4emi hwJkty liiukj inveslments wlth ¥ short molurlty three months orloss from the date of acqj18l￿0n or openirg of th& deposit or similgr occcMJnL 2.11 LlablllV•• and wovknlons LIab￿lI18S arg recognised when is an ci4vJalKYI al th8 Balm sheet dats 88 a result of 8 event, It is proba￿8 that a transfer of b￿fft ¥thlll bg requlr&J Sn setdemrt and the amount of the Settlement can be estimated reliatly. Liabilibos ore recowis&J at ts amtyjnt that the ￿MpanY 8ntl(ipates il pay to settl8 the debt or the amount it has receNed as a￿¥need pa￿￿ts fty the gc*)d$ cf sorvlces rt must provlde. ProvS8fon8 are measwed at bèst eslimate of the amounts requlred to setue th• obllgation. Where the effect of the lime value of money is malerfal, the w0visi￿ is based on the Prgsent value of those amounts. dlscounted at the p￿taX discounl rato that retlects the rtsks spe¢ific to the liability. Th¢ urNMrKling crfthe dh8¢￿￿1 ts recc*3ni8ed in th• Slat¥m•nt of finanoal actiwties as 4 finance c£*l. 2.12 Financlal In•trum•nts The Comp￿ onty has finand41 assets arwj flnancyal liablibes of a thai qualfy as basic finandal tn*wments. Basic finanool instruments are inttialty reccgnis8d * transaction value ond subsequenuy measured at th￿r setllamonl v8hJe vthh ￿ exception of bank arn $ubsequ8nty measured at amc#tsed cost using the effective interest methc*J. Page 19 THE BEACON EDUCATIONAL TRUST UMITED (A Gompany Ilmlt•d by guar*•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2023 A¢¢ounting pollcl•• (contlnu•d 2.13 Op•ratlng le•￿* As L•¥8ee Rentals paid urKler opernting leases arè tharged to tha Statsment of financ4d actp4￿88 on a strayht- line basis over the ltrase tem. As La9￿r In respect of 0￿ratIr￿j leasas fry which the SdKd is the lessor. the rents receNed are re(>)gnised in the finanaal slatements in ts peri(*J tlw relate to. 2.14 Pgnslons The &hod ￿ntributeS to the Teachers, pe￿On at rates set by the Scheme Aduary and adviwj to the scho￿ by the Scheme Admini5tsalor. The scheTh is a multi-employer pension heme a￿1 is not [¥￿sIble lo hlenlify the assets aNJ Ik4bilities of the schem9, which are attributable to the School. In accordance wth FRS 102 therefore. ￿ scheme accounted for as a defined o)nth'bution scheme. Schocl also o)ntributes to a defined Contr￿On scheme fLY non4eaching staff. The contributions are tharygd in the Stalemenl of Flnancial wi Ihe year in wh￿h thèy are payable. The pension ¢osts charged in tha yaar for the Tgathers. Pansbon Scheme ar& based on the contributions m8de to the centralwd Govammenl p8nsiwt sthema wn by the Department of Education as stated in note 23 to these finanaal statements. Since Ihg eNJ of th6 financial year the Schoc4 has cor￿utted ￿th teaching stsff cm future F>ons¢on prnwwin, and from 1 May 2024 leaching staff wiu have a of remaining fft the Teachèrs. Pension Scheme or joining a defln¢d tontrilyjtlon $cheme. 115 Fund accoundng General funds are ￿leS1￿cled fvnds availabl8 for use at the di5cretlon of the Govemors In fvrtherarTh of the general ot4ethes of the (x)mpany •vJ whlth have not been designated for other wrposes. Restrlcted funds are fvnds vthith arg lo be used in accordancè wth specific rfjstrictions imposed by donors or which have been rnised by the company for partKxJlar purposes. The ￿$ts of raising and adminislering such funds are charged againsl the spK1r￿ fund. The aim aThJ vse of each reslricled fund is set in the noles to the financial statements. 2.16 Pupll F4• D•po•its The Govemors have rgvith¥ed the wntract tom￿ undgr t*thith Pupil fee dep)sts arg held by Ihe Sthool. Although urKl8r nom*1 ¢ircumstsncgs these b? rgpahj over future years when the puFi1s omplele their educalhjn • the SchocA. puimls can bgave at 8arligr dates. The School does not therefor• have an unconditional rtght to retsin lh8 indNKlual dgFWts for at J9ast 12 months after the ba1￿ce sheet dale and. in line with the requirements in FRS 102, thfj balance of the d&posits held at 31 August 2021 have bgen induded withn currentlobilibes. The piior year Pupil fee deposits balance has been similarly rfrpresented. Page 20 THE 8EACON EDUCATIONAL TRUST LIMITED IA company Ilmlt•d by guarnnts•) NOTES TO THE FINANCIAL STATEMEPffiS FOR THE YEAR ENDED 31 AUGUST 2023 Crltlcal accounllng Mtlm•ts• •nd ¥rH• of Judgm•nt In the apF4ication of the CharW8 8ccountlNJ ￿(￿?#. are desuibed in note 2. Govemors are required lo make judgernents. estimates and assumptions ab)ut the canwng Va￿e5 of assets and lialylilies that are nol reathty apparent from oth•r wJrc*s. The estimatss aTrJ undertying assumptions are based on historicBI 8xpeiwtce and dher factors Ihat 8r• o)n8ldernd to be relevant Aclual r•8uIt8 may differ from these estimates. The estlmales and undtyng assumptsons are re￿oWed cffl an on4Joing basb. R8vlslons lo accounllng estimates are recognised in the period in whlch the estimate is rewsed rf the rwsion affects onFy that period or in the perk#l of the reNry￿ aThJ fulur• rf the aff￿ts the current and lulure p8riods. Thè G0vemc￿s consid8r thwe aro no materid SWTces of esknatiw unc•lainty M tho amounts recogni88d in the finanaal stat￿nents. Ineome fr4Jm don8tlon$ and l¢gxle• Rostrlct•d tund• 2023 Total fund$ 2023 Dona￿n$ 46,091 48,091 Re8lrfcl8d fvnds 2022 Total 2022 Donations 78.764 78.764 F•os r•G•lvabl• 2023 2022 Schcd fees receivabl• ctyslst rt. 876,295 &698.978 {2D4.908) (124.661) Les3.' Bursaries & Ajlowances 8.671.387 8.574,317 The totsl fees r￿p1able Is unrnslricted in both the current and tho priNJw. Page 21 THE BEACON EDUCATIONAL TRUST upArtED (A cornpany Ilmlt•d by gu•rnnt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YE￿ ENDED 31 AUGUST 2023 An¢lll•ry tradlng Incom• 2023 2022 Fees In lieu of r￿tr¢* School bjs Registration charyes Learnlng suptx)rt fees After 5(thol rare Dewsits forfeited Muslc tuluon and Inslnjfftht hl Miscellaneous in￿rne 40.335 86.280 18.875 34.043 14.082 6,850 1.108 2.710 125 81,401 22,OOQ 33,540 11,124 488 1,898 2D4.283 751.326 The totJ oncillary tr8diNJ inc(¥ne is unrestr*Xgd in both the ojrrent and prior ypar. Expondltur• on Val￿￿9 fvnds Unr••trlct•d fund* 2023 Total fund• 2023 On bank loans and overdrafts Advance payment of fees discount 60.978 7.953 60.978 7.953 68.931 68.931 Unresltlctad fvnds 2022 Tol81 2022 On bank loans WKf over(Irafts Adva￿• paymont offees dlsctyjnt 21,578 6,512 21.578 6.512 28.090 28.OKI pa￿ 22 THE BEACON EDUCATIONAL TRUST UMITED (A ¢ompany Ilmltod ty guarant••) NOTES TO THE FINANCIAL STATEMEKTS F¢￿ THE YEAR E14DED 31 AUGUST 2023 Analy818 of •xp•ndlbJr• on charltabl• •cUvlll•¥ Summ•ry by fund typ• Unrnstrlct•d fvnds 2023 Total 2023 Teathing costs Weware costs Premises costs Suppc*¢ costs 4.997.470 621.090 1,664,456 1.546,026 59.523 4,997A70 621.090 1.664.456 1,546,026 59,523 Totsl 2023 8.888,565 8,888.$6S Unr8stiiGted 2022 2022 Teathing costs Welfare costs Premises costs Supp(xt costs 4.749,347 568. 131 1,319.198 1,537,175 62,269 4,149.347 568. 131 1.319,198 1,537,715 62,269 Total 2022 8.23&069 8.236,060 Pay 23 THE BEACON EDUCATION*L TRUST UMITED {A company Ilmlled by guarwrt•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analy•ls of ￿p•ndItUTq on tharhabl• (¢onllnu•d) St•ff ¢o•t• D•preclatlon *af was as fdlows: 2023 2022 No. Teathers and teathirvJ ossislants Support Welfare Premises 102 23 101 24 130 139 Pag8 25 THE BEACON EDUCATIONAL TRUST LIAITED (A Company Ilmlted by guarnnt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 10. Staff costs (e¢ntlnu•d) Th8 numbèr of &npJow Wh￿0 beneflts Iexd￿J1ng emplo￿ penth costs) exceeded £60,fJJ) was.. 2023 2022 In the band £60,001- £70.IiKI In the band £70.001- £80.￿) In th8 band £80.001- £90.￿XI In th8 band £gJ.001- £100.LKN) In the band £100,001- £110,fyJO In the band £110,001 - £120,CKJO In the band £150.001- £160.Crt)O Of tha employ88s wthose annual remunerallon exc*8ded £60.thJO. S (2022.. 4) have reliremenl benefft8 accruing under a defined benefil scheme. Totsl ern￿Oyer ei¥thbutions in the year lo the defined bgnefft scheme ￿re £105.633 (2022" £70.553). 01 the omployees wl)ose annud remunerati￿ excgeded £60,0￿. 1 (2022.. 1J has retirement beneffts acuuing undw 8 d8fin8d ¢(rrtribuIi￿ scheme. Total employer ¢￿tribU￿(X￿6 in the lo thè Stheme were £7.123 (2022.. £6.720). Key managom•nt pwsonnd conwsts of the Headteadw and the Direc*or of Finance and Opgrnffjon8. They received agg￿gate remunerati(￿ li)cluding empws national InsJr8nce and pens jntsibutions) of£343.248 (2022.. £371.616). 11. Gov•morn' r•munwath)n and •xp•n During the year. no l>)VWn(￿ r•cwv•J any Miuneration cf other benefits (2022. £NILJ. During the year ended 31 AugLL812023. expenses totsllirmj £113 V￿re reimtrMJr88d or pald direclly to one Govemor (2022 - £92 to 4 Govemors) in r8sp8Ct of trgveNkng gypens8s, wet4nar tlckets, Iralning day expenses and Sub￿p1K￿ expenses. Pago 26 THE BEACON EIXICATIONAL TrUST LIMftED {A Company Ilmll•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ALIGUST 2023 12. T•nglbh flxed 88Mts Fr••I￿ld land & Motor Flxtum & Comput•r I￿lIdIng$ v•hlcl•s fftllny •qulpm•nt Total Co#t ar valuatlon At 1 September 2022 Addilions Disp058ls 22243.506 124125 {1012651 198254 1,142.012 176,904 {24.9861 879.030 24.462.802 116.759 418,788 19,177) 1136.408) At 31 Auwst 2023 22.2W366 198,254 1293.950 986.612 24.743.182 D•pr•clatlon At 1 September 2022 Charge for the year On dlsposds 084.681 648,736 (36,008) 1TI.657 17,209 634.328 104.708 {17.749) 797,786 63,894 19,1771 7.694,452 834.547 162.934) At 31 A￿uSt 2023 6.697A09 194,800 721.287 851503 8,46Q065 N•t book valu• At 31 August 2023 1&S68.9SI 3,388 571663 134109 16.279.117 Al 31 Aioust 2022 14158,825 20.597 7,684 81.244 16,768.350 Page 27 THE BEACON EDUCAnoNAL TrUST UMITED (A ¢¢>mpony Ilmltsd by guarant•• NOTES TO THE FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 202J 13. D•btors 2023 2022 Du• wlthln on• ￿•r Trade debtors Other debt¢)rs PrepoyTnents and a¢)Jued Inc 1.978.518 24A15 214A36 1,658.280 7,248 182,790 2.217.367 1,848,318 2023 lees and dIs￿r¥ernents the AUt￿￿n 2023 fee5 that were invdced Pri￿ to the yoar end. 14. Credltors: Amounts falllng du• wlthln on• y•ar 2023 2022 Bank loans Other loans Tiadg crgdllors Deposits Other taxation and soclg18etsJrity Other cxeditors Autumn fees In advance Fée propayTll8nt schedule Acmls and defer￿ Income 106,400 24.000 222.142 508,686 109,378 178.074 3,113,893 151,373 157,343 189.941 24.000 167,439 604131 110,995 11,490 2.888.719 206.542 8&244 4.631389 4,292.501 Pag8 28 ThE BEACON EDUCATII)NAL TRUST LIMITED IA company Ilmlt•d by gu•rant¢•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 15. Cr•dltors: Amounts fallln9 du• aftor mor• than OD• yo•r 2023 2022 Bank loans Other loans Othèr credit 987.879 144,000 1.086,894 168,0 128,804 1,197.404 1.383,698 Induded wllhln the alrne are amounts f8llng (*Jg a5 foll¢M: 2023 2022 B•tw￿n one •nd two ye4rJ Bank loans Other108ns 106,400 24,000 122.900 24.OCQ Bank loans Other loans 319.200 72,000 368,700 72,000 Overfive 8ank loans Otherloons 562.279 595,294 48.1￿0 72,000 The t)ank loans we secured by a speafic charyje ￿ the cL￿n￿9 fre*)okl pr(W￿8$. The bank loan has ￿ ￿tsta￿ling baan(¥ * the Jear- of £1.094279 and 18 repayatkn by equal qU8rtety amounts over 25 yeats. Interest is paya￿8 at 1.7S% abjve base rats. The other lo￿ is to finance pool repaiTr. It is not s￿[0d and18 repaya4e ovor Page 29 THE BEACON EDUCATIONAL TRUST uMrrED (A company 15mlt•d by guar•nt••) NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 AUGUST 2023 16. FM w•payment sclMdul• Lump sums may be pahl to IM Tru$l as a(fvance pajinent of fulure fe08. Assuming Students will remaln in the Sthool. advance fees r￿rIed be apF4ied as f￿k￿¥s. 2023 2022 Wthin 1 year Wlthln 2 - 5 151.373 65,525 206.542 128.804 216.898 335,346 The balance rewesents the ac(xu8d li*ilty. 2023 2022 The movements duty the wertr. Balance ot 1 September 2022 Amounts recei￿￿ Amounls utilised in th8 pa￿nent of fe68 335.346 361,904 240.232 (118A48) (266. 790) Balanc• at 31 Auw•t 2023 21Q898 335.346 Page 30 THE BEACON EDUCATIONAL TRUST LIMITED (A wnpany Ilmtted by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 17. Sl•t•m•n¢ of fvnds Slatomont of fund•- curr•nt yoar Balanc• at 1 Saptsmb Balane• at 31 August 21123 InctyTrw Exp•ndlfvr• Unr••trl¢t•d fund• Unreslrideil lurKJs 1¢8n.30D 9.159.489 18.957A961 17.080.293 ReStrIct￿ fund Reslrlcted Funds 89.049 46.1191 135.140 Total of fund# 16,967,349 9205,580 18,957,496) 17,215,433 Restvictad luTrJs relats to donations trom th8 Beac{￿ Parenl Soaoty ftjr th• purthase of ¥￿10￿8 a￿ts, to donations from leaver parents to provide bursarie5. fvnthng of S¢h¢xl avenls and lo donations lo the Headmasterfs Fund. The transler to unrestrioaed funds rewesents lyJr5arie5 that were inrtialty fvnded ty unr8stn.ded funds, tArt were laler de8m8d to b& o)v8red by hjnds donated 8nd restn.cled this use. stat•m•nt of funds. prlor yw Balance al I September 8alance at Tranth 31 Augusl 2022 Unr•*trlct•d funds Unrestricted funds 16.194.420 8.928.OW (8.264.150) 19.950 14878.3C R￿trIcted fund8 Restricted funds 30,235 78.764 (19.950) 89,049 Total of fund• 1&224.655 9.(￿.8￿1 (a264.150) 16,967,349 Pap 31 THE BEACON EDUCATIONAL TRUST LIMrrED (A Company Ilmlted by guarnnlee) NOTES TO THE FINANC￿ STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 18. Analysls of n•t a•s•ts b•tw••n fvnd• Analy•lg of net aM•ts b•t*wn fvnth. curr•nt ye Unrnstrlthd Restrl¢t•d funds fund• 2023 2023 Total fund• 2023 Tanglble fixed as8ets Current assets Creditors due *ilh5n one yBar 16,279,117 6.623.728 (5.822.552) 16.279.117 6.758A68 (5,822,552) 135.140 Total 17,080.293 135,140 17.215.433 An*ly818 ol n•t aM•ts b6twe•n fvnds- ￿lorY9•r Unrnsfr1c￿ ReslriGt8d fvnds 2022 Tot81 funds 2022 2022 Tanglble flxed assets Currenl essets Crgdilors due within Credrtors duo In more than one 1fj768.350 5.786, 149 (4.292,501) (1.383.698) 16.768,350 5.875. 198 (4.292,501) (1.383.698) 89,N9 Total 16,878,300 89,049 1&96T.349 Page 32 THE BEACON EDUCATIONAL TRUST LIMITED (A CoMp￿Y Ilmlt¢d by guaranleel NOTES TO THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31 AUGUST 2023 19. R•conGlllatlon of n•1 mov•m•nt in funth to n•t ¢a•h flgw frnm 0￿rI¢l￿9 •cllvltl•• 2023 2022 Nel Ir￿e k*the sear {as p8r Ststernwrt (rf Finonual Athil￿) 248.084 742,694 AdJustm•nts lor. Dep￿ciation charges Dividends. Intsrests arKI rents from investsnents Lo$$ on the sale of flxed assets Increase in stocks Increase in debtors Increaselldecr8asel in uedlto Interest Poid 834,547 1283.81 9) 73.474 15.224) {362.908} 471,357 68.931 701,171 (202,437) 159.739 (2,317) (668,351) (170. 109) 28.090 N•t ush wovld•d by op•rallng acuvlll 1.044442 587,880 20. Analy818 of c••h •nd •qulvalwts 2023 2022 Cash in hand 4.534.749 4,019,211 Totsl ¢a#h and cuh •qulvthnts 4,534,749 4,019,211 21. Analysls of changes In not dobt At31 2022 C•sh 110￿ August 2023 Cosh at bank and In haThJ Oebt du8 wlthin 1 year Debt dug after 1 year 4.019.211 {213.941) (1254,894) 515,538 4.S34,749 83,541 (130.41)DI 123.015 11.131,8791 2.550,376 722,094 3.272,470 Page 33 THE 8EACON EDUCATIONAL TRUST UMrfEO IA compAny Ilmit•d by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 22. Capttal ¢ommltsnents At the ￿ar end. the School had no contracted cawal (x)mmitinents (2022.. £Nil). P•n•lon ¢ommltmonts The School partiapales In the T&8chers' Pension Sthem81lhe TPS") for its leathing siaff. The pensw)n charge for the ￿ar indudes Contribut￿ paydÈ4e to the TPS of £651,154 (2022.. £630,899) at the year•nd £71.223 (2022." £64,630) was acJJu8d in Tesp8d of c￿trbbUIl[￿ to thls scheme. The TPS is an unfur¥Jed MuM￿eME￿oYer defined beneffts pension stheme governed by The Teachers, Pensions Regulations 2010 las amend￿1) arKI The Teachws. Pension Scheme Regulations 2014 las amended). Members c¢)ntribul8 on a "pay as w" basis ￿ contributions from members and the employ9r twng credited lo the Excjwuer. Rotirgment and other pe￿On b8neffts are paid by public furKIs provided by Parliament. The employer contribution rats is set by lh8 Secretary of Stats fdl¢)wing scheme valuations undertaken by the Govemmgnl ACtua￿S Department. The most recant actuarial valuation of the TPS wa$ prepared as al 31 Mar¢h 2020 and the valuati(￿ ReFx)rt wag publ￿￿ in October 2023. Following the IAcaoud judgemenl. the remedy kywosed tr￿1 ￿en benefits become payable. eligib members can select to receive them from either the refomied or ￿gacY scheme5 for the period 1 April 2015 10 31 M8reh 2022. The a¢tuaries have assumed that members are likely to chcM)se the option that provldes them wilh the greaier beneflts, and in w8parV￿ tha 2020 valuation have valued the 'greater value. benefits fLY groups of relevant membws. The valuation ConfiM￿d that the empkn>*r contri1￿￿On rate for the TPS woukl increase from 23.6% to 28.6% frc¥m 1 April 2024. Employers are also requI￿d lo pay a %*eme administration18vy of 0.08% giving a total empbypr (xffltrIbul￿ rate of28.68%. Since the end of lh8 fiTha￿al year SC*￿1 has vAth t6athing staff on future pension provision. a￿1 from 1 May 2024 teachiTrJ staff wll have a of remaining in tho Teachers, Pen8lon Scheme orjoining a d￿fi￿d contribjbon scheme. O¢h•r Ponslon8 In additA)n to the abovg. ￿ Company ts)ntril)utes on a rwi iy)nsolthled defined contributron basis lo P8rsonal pensim F4ans wtwch was launcw bn SwiFU 2021. ContrIbutit￿5 tsAallirvJ £48,691 (2022.. £47.028) V￿re payable to these funds for the y8¥. There were unpaid rJ)ntritsJbons of £11.809 (2022.. £12.774) at the end. Page 34 THE 8EACON EDUCAlloNAL TrUST UMITED {A comp*ny Hmlt•d by gu￿ntO*) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 At 31 2023 the company had Ctynmi￿￿nts to mako fulwe mlnknum lease payments under non- cancellab16 optt8UrvJ laases as folkTh¥s'. 2023 2022 Nol18ter than 1 Later than l ￿ar •ThJ latsr 27.473 19.433 21, 102 18. 161 39.263 Th8 loilowing l•a80 paYTh￿ts havo b•on ro(twisod 88 an éxponso thg Statsm8nt of financial aGbwtsas: 2023 2022 OpefallThJ leasa 26285 20,282 25. Op•r•tlng a• L•M At 31 W 2023 the waB to the fc•th¥lr¥J amounts undw non ￿nCelIable operallng 2022 l)ue In 1 ￿ar ou91n2-5￿r5 oueinff￿1￿nSs 45,000 180.000 90,000 45,000 180,000 135.Ckn) 315.000 360,000 R•lat•d p•ty tr*w¢ [XN￿ the y there TAW• amounts p8Kt to B8acA)n Ed￿tIonal Tntst Limiled from th8 Be8￿n Bursary FurKI in respect ol fevs of £nil (2022.. £16.397). The y8ar-eThl balance (Med by Be￿1 Bursary Fund to th8 Beacon EducatM)nal Trust is £nd12022.. £4.983). Ralhw. th8 ￿ar and balance owed by the Btacth Edu(xtKxwI Trust to Beac￿ 8ufSary b8 £11.188 {2022." £nl}. GO¥er￿ is Iho Ch•irnw, in rwe¢t of f988 £10.727 (2022: £9.186}. Pag8 35