Charity registratlon number 309914 Company registration number 00414674 (England and Wales) SUNNYLANDS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 SUNNYLANDS LIMITED LEGALAND ADMINISTRATIVE INFORMATION Govemors S Dawson Mrs E S Bell P M Drage J Laskey S D Aldwinckle Charlty number 309914 Company number 00414674 Registered offlce 52 Headlands Kettering Northamptonshire United Kingdom NN15 6DJ Auditor Azets Thorpe House 93 Headlands Kettering Northamptonshire Uniled Kingdom NN15 6BL Solicitors Howes Percival Nene House 4 Rushmills Northampton United Kingdom NN4 7YB SUNNYLANDS LIMITED CONTENTS Page Council Of Governors report Statement of Council of Govemors responslbllltles Independent audrtorfs report statement of financial activities 10 Balance sheet ststement of cash flows 13 Notes to the financial statements 14-24 SUNNYLANDS LIMITED COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The govemors present their annual report and financial statements for the year ended 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out In note 1 to the financial statements and comply with the school's governing documerrt, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chariti"e5 preparing their accourrts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}" (effective 1 January 2019). Objectives and activitles The objectives of the School as stated in its Memorandum and Articles of Association are to establish, maintsin. manage. develop and carry on a school for boys andlor girls at 'Sunnylands' in Kettering. In meeting these objectives, St Peter's School's public benefft aim is to provide a first class educats"on. independent of the State system. to pupils between the ages of 3 and 11. based on a sound Christian foundation. It aims to do this through strong academic tuition, and also the development of sporting, artistic, musical and social skills. This is intended to provide an environmerrt where each pupil can develop and fijlfill his or her potential, and to prepare them for a senior school of theirs and their parents, choice. St Peter's School also provides employment for 30 local people, and seeks to source as many of its suppllers and contractors from the Ioc81 area as is economically viable. Public Benefit- Burnaries and dlscounts St Peter's School educates around 100 pupils (average for the year) independently of the State system. The School offers discretionary means tested Bursaries and parents and the public in general are made aware of this either upon enquiry, on the School registration form and also through the School's website. Appllcations are considered by the Finance Committee in accordance with the Bursary Policy, and based upon individual situation and need. Bursaries are intended to provide assistanc8 wh8n possible to benefit parents experlencing financial hardship who wish to enter or remain at the School. Slbllng and staff discounts are also available. The School was able to offer bursaries and discounts to 24 children {25 pupils in 2022123) during the year including those disccunts offered to parents with more than one child at the School. By educating over 80 primary age pupils outside of Ihe state system the school has saved the public purse a sum in the region of £596,800 calculated at £7.460 (2023124) per primary school aged child. Publlc Beneflt- Associated activities for the benefit of the communlty Links are maintained with variou5 nearby statfrmaintsined schools, resutting in the sharing of resources and supporting career development for young people. The School also supports the local Higher Education College and local secondary schools by providing work experience opportunities in several parts of the curriculum and in the preschool. This is a valuable work experience opportunity provided to local students to aid the transition from full time education into Y￿rk. St Peter's School is also a pariner school with the University of Northamtson providing valuable pla￿mentS and tutoringlmentoring opportunities. St Peter's Staff also volunteer at the unNersity as part of their admissions and teacher recrurtment processes. The Schwl passionately encourages the support of local and national charities and continues to raise money for donation through varied activtties throughout the year. Vve continue to support tharities such as Chldren in Need. Red Nose Day. the Royal British Legion Poppy Appeal and Sport Relief. The School maintains its links with the Goodwill Children's Homes in India but has also forged new links with ￿￿8[ care homes. Children have perft)mied for and read with residents and also done seasonal activities. The upper part {KS2) of the school is housed in 'Sunnylands'. This is a Grade 2 listed property which is the fomier home of a locally bom renowned philanthropic national businessman. This maintains and preserves a Grade 2 listed property which was once one of the largest private houses in Kettering. for generations to come. The School is also committed to extending its facilities to the local community wherever possible. A local state school visits weekly to use the Forest School area and also holds its annual sports day in our grounds. The school participates in the Kettering school's sports partnership promoting sport in schools locally across the maintained sector- in Kettering and at County level. St Michael's Church also held its annual away day at St Peter's School. SUNNYLANDS LIMITED COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 In setting objectives and planning activities, the Govemors have given due regard to the public benefit guidance published by the Charities Commission, and in particular to its supplementary public benefit guidance on acfvancing education and on fee charging. The Board considers that through the Bursary Scheme, local employment opportunities and the assistance given to the local community it is fulfilling it5 public benefit responsibilities. The School has not received any approach from local maintained schools as part of the 'Schools Together, programme. The govemors have paid due regard to guidance issued by the Charity Commission in deciding what activities the school should undertake. Achievements and perforniance The Board is pleased to report that it consider5 this to hav8 been a very SUC￿SSfUl year in terms of progress made for all groups of pupils. It has been another busy year with a packed calendar of events which included= sports days, musical concerts, speech days and clubs. We have also been on school trips and a residential for Year 5 and 6 to Govilon. in Wales. Pupil numbers are steadlly growing, our dasses are slowly expanding. We have 7 classes plus a Preschool class. There is always huge interest in the school arKI social media channels continue to be strong, the website continues to grow and is widely-regarded as one of the best In the area. The Preschool continues to appeal to both prospective pupils of the School and offers an ex￿lIent preschool provision with a predicted waiting list from Easter. Attendance in both school and preschool continues to be above national rates. Preschool has an ex￿lIent local reputatlon and contlnues to offer flexible attendance pattems incorporating the various fundlng sclN8mes available from Govemment via the LEA to support working parents. This year has been marked by remarkable achlevements, from reaching the prestigious Level 4 status wlth the Royal Horticultural Society to an inspiring season of musical successes. Our musical events have drawn impressive audiences, and we're thrilled to see a growing number of children engaging in peripatetic lessons. Music continues to flourish at St. Peter's, with our choirs, orchestras, and ensembles proudly performing at notable events across the county. Several students have even taken part in the county orchestra, showcasing their talent on a broader stage. A highlight of the year was our sell-out performance at the Lighthouse Theat￿, a testament to our students, dedication and skill. Additionally, Mrs. Palmer, our exceptional Music Teacher, received a nomination for Music Teacher of the Year from Classic FM a well-deserved recognition. Our sporting achievements have been equally impressive. This year, one of our athletes represented the Midlands in a national event, and two runners qualified to represent the district at the county cros&country. underscoring the strength of our sports program. In academics, we continue to refine our curriculum. enhan￿ assessment and reporting, and adopt foTward-thinking pedagogies. Assessment data shows that St. Peter's students consistently perform above age-related expectations in English, Maths, Science, and Spelling, with scores averaging around 10 standardised points higher. SuEFgroups, including SEND, AGT. and EAL, have made excellent progress, highlighting our commitment to inclusive excellence. Most importantly, our students remain joyful and enthusiastic about leamlng. Feedback from parent suNeys and student groups, such as the School Council and Eco Committee, consistently reflects Ihat our children feel SUPFM)rted, eager to attend school, and motivated to learn. This Is especially impre55iV8 given our wonderfully diverse arKI multinational community. Bulldlng and Development The Development Committee remalns commltted to continually assessing and onhancing our facllltles, ensuring resources are strategically allocated to support the school's growth and evolving needs. SUNNYLANDS LIMITED COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 This year, a major project was the relocation of our Preschool from its outdated 1960s concrete and building. This transformation involved installing new doors and creatively repurposing the canopy, resulting in a vastly improved leaming environment for our youngest students. The move has also optimised energy efficiency, avoiding the rising operational costs of the old building as we approach the winter months. Our program of planned investment in school infrastructure and resour￿8 continues steadily, with upgrades to equipment, IT, and learning materials across the curriculum. These investments make leaming engaging and dynamic while ￿MaInIng anchored in tim&tested, effective teathing methods. Flnanclal revlew The funds of the Company have been applied in providing a Christian education for the pupils of the School. It is for this purpose that the charity's assets are held. The financial position at the balan￿ sheet date is considered by Governors to be satisfactory for the future of the School, and the Governors and staff continue to seek to attract more pupils to the School. The financial statements show that at the Balance Sheet date the Company had unr8Stricted reserves of £967,324 (2023: £935,168) of which £946,737 {2023'. £931,027) is invested in fixed assets. Note 18 to the account8 shows in detail that designations of £60,000 have been set aside for various purposes. The remaining level of reserves not designated or invested in fix8d assets at the balance sheet date are £587 {2023'. £4,141). The Govemors anticipate that the School will continue to generate sufflclent reserves by means of annual operating surpluses to generate reSoUr￿S for the Maintenan￿ and development of Ihe School, and that undesignated r8sarves are SLrfficient to give adequate levels of worfCommittees consist of Personnel, Development and Strateglc Unrfomi meets twice 8 year. The meeting schedule is timetabled at the beginning of each year and 8rranged such that the minutes and contents of sub-committee m8etings are made available to each Board meeting. The Headteacher prepares a briefiro report for review and discusslon at each Board meeting, and the Bursar prepares briefing reports for the Finance Committee, Personnel Committee and Development Committee meetings. The Headteach8r and Chairman attend both maln commlttee meetings. Sub Committees report into the main two commtttees. All meetings are run to a pr circulated agenda, and minutes are published. All Govemors are entrtled to attend any committee meeting on an ex officio basis. Governors are appointed as link Governors with special responsibillty for Child Protection and Safeguarding (Mrs Bell) and Health and Safety (Mr Fray). SUNNYLANDS LIMITED COUNCIL OF GOVERNORS REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Internal Control The School's financial controls are reviewed in conjunction with the audit of the year end financial statements. The School's Internal Control Framework supports the delivery of its strategy and compliance wrth its regulatory objectives. The objedives are to.. manage risks which impact the achievement of the objectives., ensure that liabilits.es are recorded and managed effectively,. prevent and detect corruption, fraud, bribery and other I￿egularitIes. The Board is responsible for determining and monitoring the adequacy of the system of intemal control. It delegates authority to the Bursar Office and receives regular updates from them throughout the year. Any areas of COn￿M are fully disclosed and brought to the attention of the Auditor. The Head of the Finance Committee (or their elected representstive) me8ts once a month to perform a review into different aspects of financial risk and control conducted by the Bursar's office and track progress on improvement actions. The role of the Bursar's Office is to assure the Board that the systems in place are robust taken on the over811 adequacy and effectlvene&% of the Schools framework of governance, risk management arKI control. Persons wlth Slgnlflcant Control The Board knows or has rèasonable cause to believe that there is no registrable person or entlty vi relation to the School who has significant control. Rl$k Management The Govemors are responsibl8 for dealing with the risks faced by the Schchjl. The Board of Goveinors has considered the major risks to which the School is exposed, and is satisfied that systems have been established to lessen those risks. It is recognised that this system can only provide reasonable, but not absolute assuran￿, that the major risks have b￿n adequately managed. Governors use the following key controls in order to manage the risks faced and any matters of concem regarding them are reported and discussed at the Board meetings. Fomal agendas for all Board and Committee activity with published minutes. Detailed terms of reference for all Sub Committees ￿porting into the Board. Comprehensive strategic budgeting, planning and management accounts.ng processes Formal written policies (with regular review) in accordance with the Independent Schools Inspectorate on behalf of the DIE. Clear pre authorisation and approval systems for all expenditure. Vetting prO￿dureS as required by law for the protection of the vulnerable. Adequate and appropriate training for Governors as necessary, and key staff. Dl8closure of Infomiatlon to audltor Each of the govemors has confirmed th8t there is no information of which they are ayra￿ which is relevant to the audit, but of which the auditor is unaware. They have further confimied that they have taken appropriate steps to identify such rdevant information and to estsblish that the auditor is aware of such Infomiation. The Council of Govemors report was approved by the Board of Governors. S Dawson Chalr of Governors Date:... SUNNYLANDS LIMITED STATEMENT OF COUNCIL OF GOVERNORS RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The governors, who are also the directors of SunnylarKJs Limited for the purpose of company law, are responsible for preparing the Council Of Govemors Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the govemors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the school and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the govemors are required to: select suitable accounting policies and then appty them consistently,. - obseprfe the methods and principles in the Charities SORP. - make judgements and estimates that are reasonable and prudent. and p￿pare the financial staternents on the going con￿rn basis unless it is inappropriate to presume that the school will continue in operation. The govemors a￿ responsible for keeping adequate accounting records that disclose with reasonable accuracy at. any time the financial posib'on of the school and enable them to ensure that the financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the school and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The governors are responsible for the maintenance and integrity of the charity and financial information included on the school's website. Legislation in the United Kingdom governing the preparatlon and dissemination of financial statements may differ from legislation in otherjurisdictions. SUNNYLANDS LIMITED INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF SUNNYLANDS LIMITED Opinion We have audited the financial statements of Sunnylands Limited (the 'school') for the year ended 31 August 2024 vthich comprise the ststement of financial activities. the balance sheet, the statement of cash flows and notes to the financial ststements, induding signfficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of A￿land (Untted Kingdom Generally Accepted Accounting practi￿>. In our opinion, the financial statements: give a true and fair view of the stste of the charFtable CoMpan￿S affairs as at 31 August 2024 anj of its incoming resour￿$ and application of resour￿$, for the year then ended,. have been properly prepared in accordance with United lQ'ngdom Generally Accepted Accounting Practi￿. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon Vve conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those stsndards are further described in the Auditoffs responsibilities for the audit the financial slatements section of our report. We are independent of the school in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with the58 requirements. We believe that the audit eVIden￿ we have obtained is SLrfficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have conduded that the Council of Governors use of the going concem basis of accounting in the preparation of the financial statements Is appropriate. Based on the work we have perfonned, we have not Identiried any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the sthool's ability to continue as a going concern for a period of at least bNelve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilities of the govemors with respect to going concern are thscribed in the relevant sections of thi8 report. Other Inforniallon The other information comprises the information included in the annual report other than the finartial statements and our auditor's report thereon. The governors are responsible for the other information contained within the annual report. Our opinion on the financial statements does rK)t cover the other information and we th not express any fonn of assurance conclusion thereon. Our responsibility is to read the other infomiation and, n doing so, consider whether the other information is rnaterially inconsistent with the financial statements or our knowledge obtsined in the course of the audi( or othe￿ise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material mi5Statement in the financial statements themselves. If, based on the work vrfe have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. V￿e have nothing to report in this regard. Matters on whlch we are required to report by exceptlon Vve have nothing to report in respect of the following matters in relation to which the Charities {Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion= the infomiation given in the financial statements is Inconsistent in any material respect with the Council of Govemors report., or sufficient accounting records have not been kept: or the financial statements are not in agreement with the accountlng records; or we have not received all the information and explanations we require for our audiL SUNNYLANDS LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE GOVERNORS OF SUNNYLANDS LIMITED Responsibilities of governors As explained more fully in the statement of Council of Govemors responsibilities, the governors, who are also the directors of the school for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the goverrrors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the govemors are responsible for assessing the sch(K)I's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going COn￿M basis of accounting unless the governors either intend to liquidate the charitabie company or to cease operations. or have no realistic altemative but to do so. Auditotrs responsibilltles for the audlt of the financial statements have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan￿ with the Act and relevant regulations made or having effect the￿under. Our objectives are to obtain reasonable assuranc8 about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, Individually or in the aggregate, they could reasonably be expected to infiuence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council's webslte at.. https.'Il w.frc.org.uklaudttorsresponsibilities. This description forms part of our auditor's report. Extent to which the audlt was consid•red capable of detectlng irregularltles, Includlng fraud Irregularltles, Includlng fraud, are instances of non-compliance with laws and regulations. We design prccedures in line with our responsibilities, outlined above and on the Fin8n¢ial Reporting Council's website, to detect material misstatements in respect of irregularities. including fraud. Vve obtain and update our understsnding of the entity, its activities, its control environment, and likely future devdopments. including in relatlon to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding. we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfonn audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes conslderatlon of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud. we desrgned procedures which induded.. Enquiry of management and those charged with governance around actual and potential litigation and claims as Y￿11 as actual. suspected and alleged fraud., Revieviing minutes of meetings of those charged Ifvith govemance" Assessing the extent of Complian￿ ￿ryth the laws and regulations considered to have a dired material effect on the financial statements or the operations of the entity through enquiry and inspection. Reviewing financial statement disclosures and testing to supporting d(￿UmentatiOn to assess compliance with applicable laws and regulations,. Perfom)ing audit work over the risk of management bias and override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of significant transaction5 outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitations of an audit, there 18 a risk that we will not detect all irregularities, induding those leading to a material misstatement in the financial statements or non (129.450) 159,591 143,733 303,324 23- SUNNYLANDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 23 Rolated party transactlons Remuneration of key managom8nt personnel The school considers that its key mansgement personnel comprise the govemors and the headteactrEr. The total amount of employee benefits (including employer pension and national insuranc8 contributions) received by key management personnel was.. 2024 2023 Aggregate compensation 74,235 76,577 Transactions wlth related parties During the year the school entered Into the following transacaions viith rel8t8d parties: S Dawson, a Govemor of the School, has an interest in R B Travel, a fim which provides services to the Sthool. The value of servlces provided during the year was £10,150 (2023 - £6,400). J Laskey, a Govemor of the School, has an interest in Howes Percival Solicitors, a firm which provides Services to the School. The value of services provided during the ye8r was £2,140 (2023 - £108). S Aldwinckle, a Governor of the School, has an Interest in Nineteen Accountants, a fimi whlch pro¥ides services to the School. The value of services provided during the year was £47 (2023 - £nil). -24-