R8glstered number: 01067862
Charlty number: 309911
THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
GOVERNORS. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
CONTENTS
Pag8
Reference and admlnlstratlva detsils of tha company. Its Governors and advlsers
Governors. report
Governors, rasponsibilities statement
Independent audltorfs report on the flnanclal statements
Statement of financlal aetlvlties
10-13
14
Balance sheet
15
statement of cash flows
16
Notes to the financlal statements
17-38

THE BEACON EDUCATIONAL 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
D C L Mi118r, Chair
FEM Mayhew, Vice Chair (resigned 31 August 2024)3
M Thompson, Vice Chair4
G L Bailey (resign8d 31 August 2024)3,5
M Entrican (resigned 31 August 2024)2
V Fawkes (resigned 9 February 2024)2
R Herbert1
S Horrocks2,4
P McGlone1
J E Rampin7,3
B Shah1
A Wansbrough4
D Thaker1
J Aviss2
D Atkinson (appointed 26 February 2024)2
T Handcroft (appointed 26 June 2024)2
W Land (appointed 26 February 2024)2
Member of the Finance and General Purposes Committ88
Memb8r of the Education Committee
3 Mombar of the Admissions and Marketing Committee
4 Member ofthe Human R8sources Committee
Member of the Health and Safety Committee
Company reglstered
number
01067862
Charity registered
number
309911
Registered offiGe
Amersham Road
Chesham Bois
Amersham
Buckinghamshire
HP6 SPF
Company secretary
F Muzlka
Offlcers
N R Baker BA (Hons) PGCE, The Headmaster
F Muzika ACA. Director of Finance & Oporations
H J Farrelly, Clerk to the Governors
Independent audltor
Crowe U.K. LLP
R+ Building
2 Blagrave Street
Reading
Berkshire
RG11AZ
Page 1

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
REFERENCEAND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS GOVERNORS AND ADVISERS
(CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Bankers
National Westminster Bank plc
08kfield Corner
Hill Avenue
Amarsham
Buckinghamshir8
HP6 5BU
Page 2

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The members of The Beacon Educational Trust Limited Goveming Body present their annual r8POrt for the year
ended 31 August 2024 under the Charitles Act 2011 and the Companies Act 2006, thus induding the Directors,
Report and Strategic Report under the 2006 Act, together with the audited financial statements for the year. The
members are Directors, Trustees and Govemors and these temis are all used within this report.
DIRECTORS. REPORT
Con8titutlon and Objects
Th8 88acon Educational Trust Limited is a charitable company limited by guarantee. Its Charity registration
number is 309911 and the company registratlon number is 01067862. The registered Offi￿ and principal
address of the company is Amersham Road. Chesham Bois, Amersham, Buckinghamshire. HP6 SPF.
The company is governed by its Memorandum and Articles of Association, which state that its object is to
advance the educaÉion of the public. In furtherance thereof, the company operates The Beacon School,
preparatory school.
Aims, Objectives and ActI￿tIeS
Aims
The Beacon aims to inspire boys to achieve their best vrithin a happy, safe and stimulating environment,
providing education of the highest quality delÉvered by caring and dedicated teachers. To achieve this. the School
continues with the support of paronts to:
Promote high stsndards of academic achievement through consistent expectation and encouragem8nt.
Nurture talent and provide opportunity for all in the areas of art, drama. music, sport and technology.
Enable pupils to develop the social and emotional skills needed to believe in themselves, to show
consideration for others and to value diversity.
Foster lifelong thinking. leaming and communication skills to enable pupils to work independently and as part
of a team.
Primary Objedives
Key 818ments of the School's strategy are to,.
1. Maintain a broad GurriGulum that is directed towards independent and lrfelong learning.
2. Uphold the traditional values associated with preparatory education, through its pastoral system, whilst
ensuring that pupils are taught the skills and knowledge they will need to meet the challenges of the
changing world.
Embed infr•rmetion technology Into the GurriGulum •• th• principal means of onhancing ttsachlng and
learning.
4. Provide new and improved exIS￿ng buildings and other facilities to support the educational, cultural and
pastoral aims of the School.
Page 3

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmlted by guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Gov8rnanc• and Management
Governing Body
The directors serve as trustees of th8 Charity and under the terms of the abov8 Articles are also members of the
company. Each director is elected by the Board of directors on the basis of nominations received from serving
directors. the headmaster and others. Directors are selected on the basis of their skills and suitability. The
chaimian of the Board is responsible for the induction of new directors, which includes making them aware of
their responsibilities, th8 goveming documents, administrative procedures, the history and philosophical
approach of the company and previous annual reports and accounts. Every director is vetted for safeguarding
purposes prior to appointment.
The first term of Offi￿ for a director shall be: (a) for an ex officio director - whilé he or she holds office. and (b)
for other Directors - three y6ars' provided that the Directors may determine that the Director shall in fact retire at
the end of a meeling of the Board of Directors held wlthln ￿e1ve months of the end of the Directorfs term of
office, A Director who has seNed two conseGUtive tems of three years may be reappointed for a further temi not
exceeding two years rf the Board considers that the Director's reappointment would be in the best interests of the
Charity. At the end of that term. th8 Diréctor may be reappointed by the Board for a further term not exceeding 2
years, subject to the same considerations, and may be appointed for further terms (each term not exceeding 2
years) thereafter on the same basis. A retir8d Director may be reappointed to hold office, provided that a year
has elapsed since he or she last held Offi￿ as a Director and provided that the Board considers that it would be
in the best interests of the Charity for him or her to be eligible for reappointm8nt.
The directors usually meet as a Board three or more times per year to determine policy and to monitor the
operations of the company. Their role is assisted by the work of the Board Committees which usually meet a few
weeks before each regular meeting of the Board. The day-to-day running of the School is delegated to the
headmaster who, with the Director of Finance and Operations ('DFO"), is assisted by other members of the
School leadership team.
Employmont Policy
The School supports the attainment of the highest standards of eduGation through rigorous and contlnuous
evaluation of quality and performance, th8 application of best practice and a widespread desire to improve
standards. The School co-operates with local organisations to widen public access to its facilities.
The School is an equal opportunities employer. Full and fair consideration is given to job applications from
persons with protected characteristics and due consideration is given to their training and employment needs.
Consultation with employees conts.nues on an ongoing basis with the aim of taking employees into account when
decisions are made that are likely to affect their interests.
Remuneratlon Pollcy for Key Management
Remuneration of the headmaster and the DFO is set by the Ramuneration Committee after appropriate
consultation and benchmarking in order to ensure recruitment and retention of quality staff.
Pagé 4

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
PROVISION OF INFORMATION TO AUDITORS
Each of the persons who are directors at the time when this Report is approved has confirmed that:
so far as that director is aware, there is no relevant audit information of which the School's auditors are
unaware. and
that director has taken all steps that ought to have been taken as a director in order to be aware of any
re18vant audit information needed by the School's auditors in connection with preparing their report and to
estsblish that the School's auditors are aware of that information.
AUDITORS
A resolution proposing the re-appointment of Crowe U.K. LLP as auditors to the company will be put to the
Annual General Meeting.
STRATEGIC REPORT
Mlsslon Statement
The School's mission is to inspire boys to achieve their best within a happy. secure and stimulating environment.
providing education of thè highest quality, dalivered by an enthusiastic and committed team of teachers and
staff.
Strategles to Achleve the Primary ObJactlv88
To achieve this aim the School will. with the support of parents:
Promote high standards of academic achievement through consistent expectation and encouragement.
Nurture talent, and provlde opportunities for all, in the areas of art, drama, music, sport and technology.
Enable pupils to develop the social and emotional skills needed to believe in thamselves, show consideration
for others and value diversity.
Foster lifelong thinking, leaming and communication skills to enable pupils to work indépendently and as part
of a team.
Achievements and Performance
The school's strong and stable roll confims the degree of satisfaction and reputation of The Beacon in the IoGal
and regional market. Senior School exit continues to reflect the academic achievements of the boys with the
school maintsining its position as a f88d8r to local state grammar (25 boys) and the local independent day
schools: Berkhamsted (19), Mgrchant Ta￿orS, (5}, Reading Blue Coat (4) amongst others at 11 + Despite some
local prep schools closin9 their Years T and 6 ¢Jue to lack of numtsers, The 68acon, as a 5cnool ana as a parent
community remains committed to a 13+ exit with half of Year 6 staying on for Year 7 to attend boarding schools
(i.e. Harrow, Wellington, Bradfield) and other day alt@matives at 13. A total of 13 scholarships were awarded lo
boys across a range of areas: Academic, Sport, Drama. Music and Art.
Across the school, boys in all year groups have been successful in external competitions. The U11 football team
were runners up in the national IAPS competition, U13 skiers won nab'onal IAPS medals and the U11 hockey
team reached the national finals. Individual boys achieved medals in national athletics competition and one boy
won the U12 freestyle in swimming. The U11 Chess Team came second in the natlonal finals. Over 20 boys
partlclpated in the Townsend Warner History prize with six boys plaGed in the top 50.
Page 5

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmited by guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Over 300 boys recelve p6ripatets"c music and LAMDA lessons and have been awarded numerous ABRSM and
LAMDA certification. including many 'Distinctions'. Hundreds of boys have sung and perfonmed as part of the
annual choral and dramatic performance programme and continues to be a significant strength of the school.
Capltal projects
The School has invested substantial capital expenditure on maintaining and updating its site and facilities over
the year. A refurbished and equipped Cooking and Nutrition Room (part funded by the Parents, Society) new
playground for Early Years, new solar panelled roof for the Sports Hall, improving pathways and general access
around the site amongst many oth8r 8ssential updates and maintenanc8. The school is curréntly considering its
options with regard to its propertylsite at 21 Amersham Road.
Public Beneflt
Bursarles and Scholarshlps
The Govemors continue to be committed to broadening access to the School by offering means-tested bursaries
of up to 100 /0 to enable more boys whose parents would not otherolise be able to afford the fees to benefit from
the School's education and facilities.
In 2023124. eight boys in the School benefited from 100/0 fee bursarfes, one from 50Q/o and one from 250/9
bursary, to a total value of £181.023 (2023.. £181,116). These bursaries also covered all reasonable educational
extras. such as unrfomi, equipment, School trips and other extra-curricular activities.
Beacon Bursary Fund
The Bea(x)n Bursary Fund is a Charity set up And run ind8P8nd8ntly of the School, by six trusteas. Its purpose is
to assist with funding for the education of pupils of The Beacon School, whose parents encounter temporary
financial difficultles, and who might otheNise have to withdraw their son(s) from the School at a time detrimental
to their educational progress. The fund derives its income from parental donations, gift aid and investment
income. In 2023124 financial assistance to the value of £7,275 (2023.. £Nil) was given by the fund.
Community Links
The School co-operates with Ioc81 charities and community based organisations in order to widen public access
and to share its cultural and sporting faciliti8s. Efforts conllnue to develop and expand in this respect.
In particular. the School's facilit19s are offered for modost rgnts to locally based dubs. and tha School hosts
sporting and academic competitions in which local Schools participate.
Free use of the school's swimming pool has continued to be provided for Horizon Sports Club, a local disabled
children's sports charity.
There is a continu8d focus on giving support via free use of the school's facilities to The Theatre Shed whose
vision is to build a sustainable theatre that brings together many more children and adults from a range of
backgrounds to create wond8rfully innovative. inspiring, inclusive theatre.
The School is afways keen to maintain a good working r81ationship with the neighbouring and the local
community. In addltion. the school has hosted tea parties for local veterans.
Charftabl8 Fund Raising
The School's on-going commitment to charitable fundraising has continued as demonstratad by events to
support a number of national charities inGluding NSPCC. Chiltern Toy Bank. Chiltem Foodbank. Macmillan
Cancer SuDDOrt. Buckinghamshire Mind . Rotary Shoe Box Colléction. Poppy AppÈg1. Comic RoliafPACE
Horizon Sports Club . and the Lh@zie Foundation . We also rais8 money towards thg Beacon Bursary Fund.
Page 6

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Volunteers
The School benefits from the fund-raising activities of parents through The Beacon Parents, Society, whose hard
work and support is greatly appreciated by the Govemors.
Flnancial Review
Results for the Year
Total income amounted to £10,017.317 (2023.. £9,205.580). Net incoming resources for the year were £875.905
compared with £248,084 in 2023124.
During the year a total of £1.240,395 (2023.. £418, 788) was spent on capital projects to enhance the appaarance.
security and functionality of the School.
Reserves Level and Pollcy
The Govemors, policy is to build the companvs free reseNes over the coming five years to £2m, to cover the
immediate needs for ess8ntlal operating expenditure for one term. The Govemors plans to achieve this will
however inevitably be affected by periodic opportunities to equip the School with the up-to-date facilities needed
to maintain the standard of educational services provided for the benefit of future pupils.
The School's unrestricted funds stood at £18.006,833 (2023.. £17.080,293) at the end of the period. After
adjusting for unr8Stricted functional fixed assets for the Charivs own use and the loans connected there to. free
reseNes stood at £2,389,896 (2023.. £2,063,455).
FUTURE PLANS
The companvs future plans include:
Continuing to provide education of the highest quality.
Implementation of "The Beacon Vision"
Maintaining sound financial management,
Risk Management
The Board keeps the School's activities under review and monitors the risks that arise from time to time. together
with the systems and procedures established to manage them. The Board monitors the effectiveness of the
system of internal controls and other means, including insurance cover, by which those identified risks can be
mitigated. The key controls used include:
Formal agendas for all Board and Gommittee meetings.
Detailed temis of reference for all committees.
Comprehensive strategic planning, budgeting and management accounting.
Established organisational structure and lines of reporting.
Fonnal written policies.
Clear authorisation and approval levels.
Vetting procedures for the proteth'on of the children.
Tho major risks arg maintenance of academic Standards (mitigated via reGruitment proGedures as well as
appraisal process), child protection (mitigated via strict adherence to safeguarding rules) and quality of the
School facilities (mitigated by th8 latest School vision).
Page 7

## **THE BEACON EDUCATIONAL TRUST LIMITED** 

## **(A company limited by guarantee)** 

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

Through these procedures, the Board is satisfied that major risks should be identified and mitigated against so far as practicable whilst recognising that systems provide only reasonable but not absolute assurance that all risks are identified. 

The School purchases indemnity insurance for the Governors. 

## **Risks and Threats to the Independent Schools' Sector** 

Through the School's links to and membership of the Independent Association of Prep Schools (IAPS) and the Independent Schools' Bursars Association (ISBA) the School keeps itself abreast of issues facing the sector as a whole. 

The School monitors all threats, such as the risk of pandemics, cyber attack , the general economic and political climate, including the impact of the introduction of VAT on school fees and the removal of business rates relief for independent schools, and will take appropriate action to adjust budgets and plans should it become necessary. 

The Governors are confident in the School's ability to manage these risks. 

This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Governors of the Beacon Educational Trust Limited in March 2023 including in their capacity as company directors approving the Strategic Report contained therein. 

Approved by order of the members of the board of Governors and signed on their behalf by: 

**D C  L Miller** (Chairman) 

Date: 27 March 2025 

Page 8 



THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantaé)
STATEMENT OF GOVERNORS, RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024
The Governors (who are also the dirèctors of the company for the purposes of company law) are responsibl8 for
preparing the Governors, report including the Strategic r8POrt and tha financial statements in accordance with
applicable law and United Kingdom Accounting gtandard8 (United Kingdom Generally AGGepted Accounting
Practlce).
Company law requires the Governors to prepare financial statements for each financial year. 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 th888 financial statements, th8 Govemors are
required to:
select suitsble accounting policies and then apply them consistently.
observe the methods and principles of the Charities SORP (FRS 102).
make judgments and accounting estimates that aré reasonable and prudent.
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any rnaterial
departures disclosed and explained in the financial statements.
prepare the financial statements on the going concem basis unlass it 18 inappropriate to presuma that the
company will continue in business.
The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain
the companvs transactlons and disclose wilh reasonable accuracy at any time Ihe financlal position of the
company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for saf8guardin9 the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Page 9

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST
LIMITED
Opinion
Wa have audited the financial statemonts of The Beacon Educational Trust Limited (the 'charitable ￿MPany) 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
financlal reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Financial R8POrting Standard applicable
in the UK and Republic of Ireland, (United Kingdom Generally AC￿pted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the stat8 of th8 charitable companvs affairs as at 31 August 2024 and of its
incoming resources and application of resources, including its income and expenditure for the year then
have been properly prepared in aco)rdance with United Kingdom Generally Accepted Accounting
Practice. and
have been prepared in accordance with the requireménts of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance wlth International Standards on Auditlng (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the fin8nci81 statements section of our report. We are indapandant of tha charitable company in accordance
with the ethic81 requirements that are relevant to our audit of the financial stat8m8nt$ 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 8vidence we have obtained is
sufficiént and appropriat8 to provide a basis for our opinion.
Conclusions relating to golng concern
In auditing the financlal statements, we have concluded that the Governors, use of the going concem basis of
accounting in the preparation of the financlal statements is appropriate.
Based on the work we have performed, w8 have not Identlfled any matertal uncertainties relatlng to events or
conditions that, individually or collectively. may cast significant doubt on the charitable companls sbility to
continue as a going concern for a period of at least ￿e1v8 months from when the financial statements are
authorised for issue.
Our responsibilities and the re8pon8ibilities of the Governors with respect to 9olng concern are described in the
relevant sections of this report.
Page 10

THE BEACON EDUCATIONAL TRUST LIMITED
(A Gompany Ilmlted by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST
LIMITED (CONTINUED)
Other inforniatlon
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 r8sponsibla for the other information contained within the
Annual report. Our opinion on the financial ststements does not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assuran￿ conclusion th8r8on. Our
responsibility is to read the other information and, in doing so, consider whether the other information is
mat8rially inconsistent with the financial ststements or our knowl8dge 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 requir8d to determine whether this gives rise to a material misstatement in the financial
ststements 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 prescrlbed 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 including th8 Strategic report for th8 financial year for which
the financial statements are prepared is consistent with the financial statements.
the Governors, report and the Strategic report have been prepared in accordan￿ with applicable legal
requirements.
Matters on which we are requlred to report by exceptlon
In tha 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 Govemors. report including the Strategic
report.
We have nothing to report in respect of the following matt8rs 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 baen
received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and retums,. or
certain disclosures of Governors, remuneration specnled by law are not made., or
we have not received all the infomiation and explanations we require for our audit.
Responsibilities of trustèés
As explained more fully in the Governors, responsibilities statement. the Governors (who are also the directors of
the charitabl8 company for the purpos8s of company law) are responsiblo for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such intemal control as the
Governors d8t8nnine is necessary to enable the preparation of financial statements that ar8 free from material
misstatement, whether due to fraud or error.
In prepartng the financial statements, the Govemors are responsible for assessing the charitabl8 companys
ability to Continue as a going concem, di$¢losing, as applicable, matters related to going GonGem and using the
going concern basis of accounting unless the Govemors oithar intend to liquidate the Charitable company or to
cease operations. or have no realistic alternatlve but to do so.
Page11

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST
LIMITED (CONTINUED)
Auditor's responslbllltles for the audlt of the financlal ststements
Our objectives are to obtain reasonable assuran￿ about wh6th8r the financi81 st8tem8nts as a whole are free
from material misstat8ment, whether due to fraud or error, and to issue an Auditorfs report that includes our
opinion. Reasonable assuranc8 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 mat8rial if, individually or in th8 aggregate. they could rgasonably ba
8xpected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was consldered capable of detectlng Irregularities, Includlng fraud
Irregularities, induding 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 be￿een our audit team members. We then designed and performed audit
procedures responsive to those risks, including obtaining audit evidence sufficient and approprfate to prowde a
basis for our opinion.
We obtained an understsnding of the legal and regulatory frameworks within which the charitable company
operates. focusing on those laws and regulations that have 8 direct effect on the datermination of material
amounts and disclosures in the financial statements. The laws and regulations we considered in this context
were the Companies Act 2006. Charities Act together with the Charities SORP (FRS 102). We assessed the
required compliance with th8se laws and regulations as part of our audit procedures on the related financial
statement items.
In addition, w8 considered provisions of other laws and regulations that do not have a direct effect on the
financial statèments but compliance with which might b8 fundamental to the charitable companws ablllty to
OP8rate 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 UK operations
were The Education (Independent School Stsndards) Regulations 2014. Health and Safety and General Data
Protection Regulations. Auditing standards limit the requlred audit procedures to Identify noncompliance with
thes8 laws and regulations to enquiry of the Govemors and other management and inspection of règulatory and
legal correspondence. if any.
The greatest risk of material impact on the financial statements is from irregularities, including fraud, to be within
the timing of recognition of non-fee income, and the override of controls by management. Our audit procedLEres
to respond to these risks included enquiries of management, and the Finance and General Purposes Committee
about their own Identification and assessment of the risks of irregularities, sample t8sting on the posting of
joumals, sample testing on non-fee income, reviewing accounting estimates for biases. reviewing regulatory
correspondence with the Charity Commission, Independent Schools Inspectorate, 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 noncompliance with laws and
regulation8 (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, misropresantstions. or tha ovèrride of internal controls. We are not responsible for preventing non-
compliance and ¢annot be expected to detect noncompliance with all laws and regulations.
A furlh8r description of our r8sponsibiliti88 for the audit of the financial statements is located on the Financial
Reporting Council's website at..
onsibilities. This description forms part of our
Audltor's report.
Page 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** 

R+ Building 2 Blagrave Street Reading Berkshire RG11AZ 

Date: 28 April 2025 

Page 13 



THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestrlcted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
fvnds
2023
Note
Income from:
Donations and legacies
Charitable activities:
School fees receivable
Ancillary trading income
Other trading activities:
Rent and facility hire
Investrnents:
Interest received
90,525
90,525
46,091
9,358,083
198,303
9,358,083
198,303
8,671,387
204.283
206,149
206,149
216,068
164,257
164,257
67,751
Total Income
9,926,792
90,525
10,017,317
9,205,580
Expendlture on:
Raising funds
Charitsble activities
76.124
9,011.570
76.124
9,065,288
68,931
8,888,565
53,718
Total expendlture
9,087.694
53,718
9.141.412
8,957,496
Net InGome
Transfers between funds
839.098
87,442
36.807
(87,442)
875.905
248.084
17
Net movement in funds
926.540
(50,635)
875.905
248,084
Reconciliation of funds:
Total funds brought forward
Net movement in funds
17,080,293
926,540
135,140
(50,635)
17,215.433
875.905
16,967,349
248.084
Total funds carrlgd forward
18,006.833
84,505
18,091,338
17,215,433
The Statement of flnanGial activities inclurjes all gains and losses recognlsed in the year.
The notes on pages 17 to 36 fomi part of these financial statemants.
Page 14

## THE BEACON EDUCATIONAL TRUST LIMITED **(A company limited by guarantee)** REGISTERED **NUMBER:** 01067862 

## **BALANCE SHEET AS AT 31 AUGUST 2024** 

||||**2024**||_2023_|
|---|---|---|---|---|---|
||**Note**||£||£|
|**Fixed assets**||||||
|Tangible assets|12||**16,747,701**||_16,279,117_|
|**Current assets**||||||
|Stocks||**5,474**||_12,893_||
|Debtors|13|**2,208,083**||_2,217,367_||
|Cash at bank and in hand||**5,707,100**||_4,534,749_||
|||**7,920,657**||_6,765,009_||
|Creditors: amounts falling due within one||||||
|year|14|**(5,128,934)**||_(4,631,289)_||
|**Net current assets**|||**2,791,723**||_2,133,720_|
|**Total assets less current liabilities**|||**19,539,424**||_18,412,837_|
|Creditors: amounts falling due after more||||||
|than one year|15||**(1,448,086)**||_(1,197,404)_|
|**Total net assets**|||**18,091,338**||_17,215,433_|
|**Charity funds**||||||
|Restricted funds|17||**84,505**||_135,140_|
|Unrestricted funds|17||**18,006,833**||_17,080,293_|
|**Total funds**|||**18,091,338**||_17,215,433_|



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 27 March 2025 and signed on their behalf by: Yl 

## **DC L Miller** 

(Chairman) 

The notes on pages 17 to 36 form part of these financial statements. 

Page 15 



THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Note
Cash flows from oporatlng actlvltles
N8t cash used in operating activities
19
1,562,528
1.044.442
Cash flows from Invastlng activities
Dividends, inter8sts and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fix8d assets
370,406
668
(1,240,395) (418. 788)
283,819
Net cash used In Invésting actlvltles
{869,321) {134,969}
Cash flows from flnanclng activltles
Repayments of borrowing
Advanced fees utilisad
Receipts from adVan￿d fee
Interest paid
(131,515) (206.556)
(449,357)
(118,448)
1.136,140
(76,124)
(68,931)
Net cash provided byl{used In) financlng activities
479,144
{393,935)
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginnlng of the year
1,172,351
4,534,749
515,538
4,019,211
Cash and cash aquivalents at the end of the year
20
5,707,100
4,534, 749
The notes on pages 17 to 36 form part of these financial statements
Page 16

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
G•neral Inforniatlon
Th8 B8acon Educational Trust's principal activity continued to be the provision of a Day School for 3-13
year old boys. The incorporated Charity (Charity registration number 309911, Company registration
number 01067862), is incorporated and domiciled in the UK and is a company limited by guarantee. The
address of the registered office is Amersham Road, Chesham Bois, Amersham, Buckinghamshire. HP6
SPF.
Aecountlng pollela8
2.1 Ba818 of preparatlon of flnanclal ststements
The financial statements have been prepared In accordance wth the Charitl8s SORP (FRS 102) -
Accounting and R8POrting 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.
The Baacon Educational Trust Limited meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historfcal cost or transaction value unless otherwise
ststed in the relevant accounting policy.
2.2 Golng concern
The scale of effects on famllies and the School, economlc and otherwise, In respect of the Covid
global pandemic, may have subsided. however the intemational policitcal landscape has sinc
beome more unstable and contributing to the cost of living crlsis In the UK. However the School has
prepared conservative financial projections for the near to medium term which indicate that even ff
Govemment restrictions forced the School site to close again, the School is financially well placed to
withstand such headwinds.
Having reviewed the funding facilities available to the School together with the expected on4Joing
demand for places and the School's future projected cash flows, the Governors have a reasonable
expectstion that the School has adequate resources to continue its activities for the foreseeable
future. Accordingly, they contlnuo to adopt tha golng concem basis in pr•parfng the financial
8tat8ments.
2.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the
Income will be re￿1v￿d and tha amount of incoma rocAivabl8 can bg moasurad raligbly.
Amounts billed for termly fees and extra curricula activities are recognised as incoming resources
when receivable. Amounts received prior to the balance sheet date for autumn temi fees are
recorded as fees received in advance. as are amounts received for future fee periods under the fee
pr8payrnent scheme. Fees receivable are stated after deducting allowances, bursaries and other
remissions granted by the School.
Page 17

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng poliGies (contlnued)
2.4 Expendlture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty. it is probable that a transfer of economic ben8fits 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 Ihan one activity and support costs which are
not attributable to a single activity are apportioned betW88n 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 portlon of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its
charitable purposes and indudes 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.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the company,. thls is normally upon nots'fication of the interest paid or payable by the
institution with whom the fijnds are deposited.
2.6 Taxatlon
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 d8finition of a charitsble company for UK corporation tax purposes.
Accordingly, the company 18 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.
2.7 Tanglble fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic
bènefits are probable and thé cost or value of the asset can be measured reliably.
Tangible flxed assets are initially recognised at cost. After recognition, under the cost model, tanglble
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.
Page 18

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng pollclas (contlnued)
2.7 Tanglble flxed assets and depreciation (contlnued)
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 provid8d on the following basis:
Freehold buildings
Minor works
Motor vehicles
Fixtures. fittings and equipment
Computer equipment
2 % straight line
10 % straight line
250/0 Straight line
100/0 Straight line
330/0 Straight line
2.8 Stocks
Stocks are valued at the lower of cost and n8t realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed
and variable ovetheads.
2.9 Debtors
Trade and other debtors are recognised at the settl8ment amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and In hand
Cash at bank and in hand Includes cash and short-temi highly liquid investments wlth a short maturlty
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Llabllltles and provlslons
Liabilities aro r8cognis8d whan there is an obligation at the Balance sheat date as a result of 8 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 S8tt18 th8 debt or
the amount it has received as advanGed 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
thc sffGot of ÉhG tlmG valuG or moncy la materlal, the provlalon IJ ba)ca on tnB preJBnt value of thoJsB
amounts, discounted at the pre-tax diso)unt 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.
2.12 Financial instruments
The company only has financial assets and financial liabilitiès of 8 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.
Page 19

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting pollcles (continued)
2.13 Operatlng leases
As Lessee
Rentals paid under operating leases are charged to the Statement of financial activities on a straight-
line basis over the lease term.
As Lessor
In respéct of operating leases for which the School is the lessor, the rènts received are recognised in
tho financial statements in the period they relate to.
2.14 Penslons
The School contributes to the Teachers, Pension Scheme at rates set by the Scheme Actuary and
advised to the School by the Scheme Administrator. The scheme Is a multi-employer pension
scheme and is not possible to identify the assets and liabilities of the scheme. which are attributable
to tha School. In accordanc8 Wlth FRS 102 therefore, the scheme is accounted for as a defined
contribution scheme.
The School also contributes to a defined contribution scheme for non-teaching staff.
The contrtbutions are charged in the Statement of Financial Activities in the year in which they are
payable.
The pension costs charged in the year for the Teachers, Pension Sch8m8 are based on the
contributions made to the centralised Govemment pension scheme run by the Department of
Education as stated in note 23 to these financial statements. Since the end of the financial year the
School has consulted with teaching staff on future penslon provision, and from 1 May 2024 teaching
staff will hav8 a choice of remaining in tha Teachers, Pension Scheme or joining a defined
contribution scheme.
2.15 Fund accountlng
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.
R8stricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which havé been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is act out in the notes to Ihe finanGial 3tatements.
2.16 Pupil Fee Deposlts
The Governors have reviewed the contract terms under which Pupil fee deposits are held by the
School. Although under normal circumstances these wlll be repaid over future years when the pupils
complete their education at the School, pupils can leave at eartier dates. The School does not
therefore have an unconditional right to retain tha individual daposits for at least 12 months after tha
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 wthin current liabilities. The prior year Pupil fee deposits balance
has b8en similarly re-presentéd.
Page 20

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Critlcal accounting estimates and areas of judgment
In tha application of the Charittyg accounting policies, which are described in not8 2. Govgrnors are
required to make judgements, estimates and assumptions about the carrwng 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. AGtual results may
differ from these estimates.
Critical accounting estimates and assumptions:
The Governors consider there are no material sources of estimation uncertainty on the amounts
recognised in the financial statements.
Income from donatlons and legacies
Restricted
funds
2024
Total
funds
2024
Donations
90.525
90,525
Restricted
funds
2023
Total
fvnds
2023
Donations
46,091
46,091
Fees recelvable
2024
2023
School fees receivable consist of:
Gr088 fees
Less: Bursaries & Allowances
9.614.823
(256.540)
8.876.295
(204.908J
Net fees recelvable
9.358.083
8,671,387
The total fees receivable is unrestriGted in both the current and the prior year.
Page 21

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Ancillary trading incomo
2024
2023
F88s in lieu of notice
School bus
Registration charges
Leaming support fees
Aftér school care
Deposits forfeited
Music tuition and instrument hire
Miscellaneous income
20,875
89,017
19,705
34.673
11.310
5.728
1,250
15.745
40,335
86.280
18,875
34.043
14,082
6, 850
1, 108
2,710
198,303
204,283
The total ancillary trading income is unrestricted in both the current and prior year.
Expendlture on raising funds
Unrestricted
funds
2024
Total
funds
2024
On bank loans and overdrafts
Advan￿ payment of fees discount
72,342
3.782
72,342
3,782
76.124
76,124
Unrestricted
funds
2023
Total
fvnds
2023
On bank loans and overdrafts
Advance payment of fees discount
60,978
7.953
60,978
7.953
68,931
68,931
Page 22

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysls of expenditure on charltable activities
Summary by fund type
Unre8trlcted Restricted
funds
funds
2024
2024
Total
2024
Teaching costs
Welfare costs
Premises costs
Support costs
Govemance costs
5.291,942
667,970
1,456.505
1.515.956
79,197
5,291,942
667,970
1,508,973
1,517,206
79,197
52,468
1,250
Total 2024
9,011,570
53,718
9,065,288
Unrestricted
funds
2023
Total
2023
Teaching costs
Welfare costs
Premises costs
Support costs
Govemance costs
4,997,470
621,090
1,664,456
1,546,026
59,523
4,997,470
621,090
1,664,456
1,546,026
59.523
Total 2023
8, 888,565
8.888.565
Page 23

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysls of expendlture on charltable activities (continued)
Summary by expenditure type
staff costs Depreciation Other costs
2024
2024
2024
Total
2024
Teaching costs
Welfare Costs
Premises costs
Support costs
Governance costs
4.627.398
168,838
146,130
889,871
43,042
230,273
434,271
499,132
824.975
624.098
36,155
5,291,942
667,970
1,508,973
1.517.206
79.197
537,868
3.237
Total 2024
5,875,279
771,378
2,418,631
9,065,288
Staff Gosts Depreciation Other costs
2023
2023
2023
Total
2023
Teaching costs
Welfare costs
Premises costs
Support costs
Governance costs
4,420,257
144,452
141,241
860.536
36,141
168, 602
408.611
476,638
874,479
668,281
23,382
4,997,470
621,090
1,664,456
1.546,026
59,523
648, 736
17,209
Total 2023
5, 602, 627
834,547
2.451.391
8.888.565
Net Incomlng resources
2024
2023
These ar8 stated after chargingi(creclltlng):
Auditors, remuneration
Depreciation on tangible fixed assets . owned assets
ProfiU(Loss) on disposal of tangibla fixed assets
19,500
771,378
235
17,595
834,547
(10,117)
Page 24

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to d8fin8d contribution pension schemes
4,649,122
486,967
739,190
4,440,880
461.902
699,845
5,875,279
5,602.627
During the year temiination payments totalling £Nil (2023.. £2,245) were paid to no employees (2023..
one).
The av8rag8 numbér of persons employed by the company during the year was as follows:
2024
No.
2023
No.
Teachers and teaching assistants
Support
Welfare
101
22
102
23
Premises
q37
138
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
2024
No.
2023
No.
In the band £60,001 - £70,000
In the band £70,001- £80.000
In the band £80,001- £90,000
In the band £110,001- £120.000
In the band £150,001- £160,000
In the band £160,001- £170,000
Page 25

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Staff costs (contlnued)
Of the employees whoso annual remuneration exceeded £60,000, 6 (2023.. 5) have retirom8nt benefits
accruing under a defined benefit scheme. Total employer contributions in the year to the defined benefit
scheme were £74,563 (2023.. £105,633). Of the employees whose annual remuneration ex￿eded
£60.000. 6 (2023.. 1) have retirement benefits accrulng under a defined contribution scheme. Total
employer contributions in the year to the Schemé w8r8 £57,426 (2023.. £7. 723).
Key management personnel consists of the Headteacher and the Director of Finance and Operations.
They received aggregate remuneration (including employerfs national Insuran￿ and pension
contributions) of £365,112 (2023.. £343,248).
11.
Governors. remuneratlon and expenses
During the year. no Governors received any remuneration or other banefits (2023 - £NIL).
During the year ended 31 August 2024, expenses totalllng £544 were relmbursed or paid directly to no
Governors (2023 - £113 to 1 Govemor) in respect of tr8velling expenses, webinar tickets, training day
expenses and subscription expenses.
Page 26

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
12. Tangible fixed assets
Assets
Flxtures
under the
and Computer
ourse of
fittings equlpment construction
Freehold
land &
Motor
bulldlngs vehlcles
Total
Cost or valuatlon
At 1 September 2023 22,266,366 198,254 1,293,950
986,612
Additions
88,151
138,337
237.701
Disposals
(86,530)
(1.997) (437.120)
Transfers between
classes
24,745,182
1,240,395
(525,647)
776,206
647.143
(647,143)
At 31 August 2024
22,915,130
198,254 1,430,290
787,193
129,063 25,459,930
Depreciation
At 1 September 2023
Charge for the year
On disposals
6.697,409 194,866
537,868
3.237
(86,530)
721,287
852,503
115.431
114.842
(1,564) (437,120)
8,466,065
771,378
(525,214)
At 31 August 2024
7.148,747
198,103
835,154
530,225
8,712,229
Net book value
At 31 August 2024
15,766,383
151
595,136
256,968
129.063 16.747.701
At 31 August 2023
15,568.957
3.388
572,663
134, 109
16,279,117
Page 27

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
13.
Dabtors
2024
2023
Due wlthln one year
Trade debtors
Other debtors
Prepayments and accrued income
1,932,665
2.685
272.733
1,978,516
24.415
214.436
2.208.083
2,217,367
2024 fees and disbursements include the Autumn 2024 fees that were invoiced prior to the year end.
14. Credltors: Amounts falling due wlthln one year
2024
2023
Bank loans
Other loans
Trade creditors
Deposits
Other taxation and social security
Other Creditors
Autumn feas In advance
Fee prepayment schedule
Accruals and def8rred income
110,400
24.000
257,963
639,224
102,727
181,120
3,232,727
451.959
128,814
106,400
24,000
222, 142
568,686
109,378
178.074
3,113,893
151.373
157,343
5,128,934
4,631,289
Page 28

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15.
Creditors: Amounts falllng due after more than one year
2024
2023
Bank loans
876,364
120,000
451,722
987,879
144,000
65,525
Other loans
Fee pr8payment schedule
1.448.086
1.197.404
Included within the above are amounts falling due as follows:
2024
2023
Between one and two years
Bank loans
110,400
24,000
106,400
24,000
Other loans
B•tw•an two and five years
Bank loans
Other loans
331.200
72,000
319,200
72,000
Over flve years
Bank loans
Other loans
434,764
24.000
562,279
48.000
The bank loans are Secured by a specific charg8 on the companvs freehold properties.
The bank loan has an outstandlng balance at the year- end of £1,094,279 and is repayable by equal
quarterly amounts over 25 years. Interest is payable at 1.750/0 above base rate.
The other loan Is to finance pool repalrs. It Is not secured and is repayable over ten years.
Page 29

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
16.
F•0 prepaymont schedule
Lump sums may be pald to the Trust as advan￿ payment of future fees. Assuming stud8nts will r8main
in the School, advance fees received will be applied as follows..
2024
2023
Within 1 year
Wlthin 2 - 5 years
451,959
451,722
151,373
65,525
903.681
216.898
The balance represents the accrued liability.
2024
2023
The movements during the year were:
Balance at 1 September 2023
Amounts received
Amounts utilised in the payment of fees
216,898
1,136,140
{449,357) (118.448)
335.346
Balance at 31 August 2024
903.681
216,898
Page 30

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
17. Statoment of funds
statement of funds - current year
Balance at 1
September
2023
Balance at
31 August
2024
Transfers
inlout
Income Expenditure
Unrestrlcted funds
Unrestricted funds
17,080,293
9,926,792 (9,087,694)
87,442 18,006,833
Restricted funds
Restricted Funds
135,140
90,525
(53,718)
(87,442)
84,505
Total of funds
17.215.433 10,017,317 (9.141.412)
18.091.338
Restricted funds relate to donations from the Beacon Parent Society for the purchase of various assets,
to donations from leaver parents to provide bursaries, funding of School events and to donations to the
Headmasterfs Fund. The transfer to unrestricted funds represents bursaries that were initially funded by
unrestricted funds, but were later deemed to be covered by funds donated and restrlcted for thls use.
Statement of funds - prlor year
Balance at
I September
2022
B81ance at
31 August
2023
Income Expenditure
Unrestrlcted funds
Unrestricted funds
16,878,300
9, 159,489
(8,957,496) 17,080,293
Restricted funds
Restrictad Funds
89.049
46.091
135. 140
Total of funds
16,967,349
9.205.580 (8.957,496) 17.215,433
Page 31

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18. Analysls of net assots between funds
Analysls of net assets betsY••n funds - current period
UnrestriGted Restrlcted
funds
funds
2024
2024
Total
fvnds
2024
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
16,747,701
7,836.152
(5.128,934)
(1.448,086)
16,747,701
7,920,657
(5,128.934)
(1,448,086)
84,505
Total
18,006,833
84,505 18.091,338
Analysis of net assets botwean funds - prlor perlod
Unrestricted
funds
2023
Restricted
fvnds
2023
Total
fvnds
2023
Tangibla fixed assets
Current assets
Creditors due wthin one year
Creditors due in more than one year
16,279,117
6,629, 869
(4, 631,289)
(1,197,404)
18,279,117
6. 765.009
(4,631,289)
(1, 197,404)
135.140
Total
17,080,293
135, 140 17,215,433
Page 32

THE BEACON EDUCATIONAL TRUST LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
19. Reconcillatlon of net movement In funds to net cash flow from operatlng actlvltlos
2024
2023
Net income for the period (as per Ststement of Financial Activities)
875,905
248,084
Adjustments for:
Depreciation charges
Dividends, Interests and r8nts from investments
(Profityloss on the sale of fixed assets
Decreasel(increase) in stocks
Decreas81(increase) in debtors
Increase in creditors
Interest paid
771,378
834,547
(370,406) (283,819)
(235)
73.474
7.419
(5,224)
9,284
(362,908)
193,059
471,357
76,124
68,931
Not cash provldad by operating actlvltlos
1,562,528
1,044,442
20. Analysls of cash and cash equlvalents
2024
2023
Cash in hand
5,707,100
4,534, 749
Total cash and cash equlvalents
5,707,100
4.534. 749
21. Analysis of changes In net debt
September
At31
2023 Cash flows August 202a
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
4,534,749
(130.400)
(1,131,879)
1,172,351
(4,000)
135,515
5,707,100
{134,400)
(996,364)
3,272.470
1,303,866
4.576.336
Page 33

THE BEACON EDUCATIONAL TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
22. Capital commltments
At the year end, th8 School had no contracted capital commitments (2023.. £Nil).
23.
Penslon commltments
Teachers, Ponslon Scheme
The latest actuarial valuation of the TPS related to the period ended 31 March 2020.
At the year-end £29,643 (2023.. £71,223) was accrued in respect of contributions to this scheme.
The Teachers, Pension Scheme (TPS) is a statutory, contributory. defined benefit scheme, govern8d by
the Teachers, Pension Scheme Regulations 2014. The TPS is an unfunded scheme to which both the
member and employer makes contributions. as a percentage of salary- these contributions are cr8dited to
tha Exchequer. Retirement and other pension benefits are paid by public fijnds provided by Parliament.
During the year the School has consulted with teaching staff on future pension provision. and from 1 May
2024 teaching staff have a choice of remaining in the Teachers, Pension Scheme. or joining a defined
contribution sch8m8.
Valuation of the Teachers, Pension Schemo
The Govemm8nt Actuary, using normal actuarial principles. conducts a formal actuarial review of the TPS
in 8ccord8nce with the Public S6rvice Pensions (Valuations and Employ8r Cost Cap) Directions 2014
published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised
and managed appropriately and the review specifies the level of future contributions.
Actuarial scheme valuations are dependent on assumptions about the value of fijture costs, design of
benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March
2020. The valuation report was published by the Department for Education on 27 October 2023, with the
SCAPE rate. set by HMT, applying a notional investment return based on 1.7 % above th8 rate of CPI. The
key elements of the valuation outcome are:
Employer contribution rates set at 28.68 % of pensionable pay (including a 0.08Yo administration levy).
This is an increase of 5°/0 in employer contributions and the cost control result is such that no change
in member benefits is needed.
Total scheme liabilities (pensions currently In payment and the estimated cost of future benefits) for
service to the effective date of £262,000 million and notional assats (estimated future contributions
togeth8r with the notional investments held at the valuatlon date) of £222,200 million, giving a notlonal
past Servi￿ deficit of £39,800 mllllon
The result of this valuation will be implemented from 1 April 2024. The next valuation result is due to be
implemented from 1 Aprll 2028.
The employerfs pension costs paid to TPS in the period amounted to £682,713 (2023.. £651, 154).
A copy of the valuation report and supporting documentation is on the Teachers, Pensions website.
Page 34

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limitad by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
23. Panslon commltménts (continuad)
Under the definitions set out In FRS 102, the TPS is an unfunded multl-employor pension scheme. The
School is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the
School has taken advantage of the exemption in FRS 102 and has account8d for its contributions to the
scheme as if it were a defined contribution scheme. The academy trust has s8t out above. the information
available on the scheme.
Other Penslons
In addition to the above. the Company contributes on a new consolidated defined contribution basis to
Personal penslon plans which was launched In Sprlng 2021. Contributions totalling £56,477 (2023..
£48,691) were payable to these funds for the year.
There were unpaid contributions of £55.709 (2023." £11,809) at the year end.
Operating lease commltments
At 31 August 2024 the company had Commitments to make future minimum lease payments under non-
cancellable operating leases as follows..
2024
2023
Not later than l year
Later than 1 y8ar and not later than 5 y8ars
19,310
3.168
27,473
19.433
22,478
46,906
The following lease payments have been recognised as an expense in the Statement of financial
activitl8S'.
2024
2023
Operating lease rentals
25,936
26,285
Pag8 35

THE BEACON EDUCATIONAL TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
25.
Operating Leases as Lessor
At 31 August 2024 the School was due to receive the following amounts under non cancellable operating
leases:
2024
2023
Due in 1 year
Due in 2 - 5 years
Due in more than 5 years
45,000
180,000
45.000
45,000
180,000
90.000
270,000
315.000
26. Related party transactlons
The year end balance owed by ihe Beacon Educational Trust to Beacon Bursary Fund is £nil (2023..
£11, 188).
There was also amounts paid to The Independent Association of Prep Schools (IAPS), for which
Govemor is the Chaimian, in respect of membership fees £nil (2023.. £10,727).
Page 36