Reglstered number: 00623Q43 Charfty numbqr: 310644 ETON END SCHOOL TRUST (DATCHETI LIMITED (A Company Llmlted by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 *ADIFTJ5M* 2111212024 CCNPANIES HOUSE A10 #112 ETON END SCHOOL TRUST IOATCHET) UWTED IA Company Llmltfjd by Guarantse) CONTENTS Advls•rs Trusl••s' R•port' Trustees. RespoftslbllltS•¥ Slatw Independent Auditor5. Report on th• Fin*nei•l Statement ol Flnanclal A¢J¥ities 10 15 Balance Sheet 16 17 Ilths to the Flnanclal Stat•m• 18-39 ETON END SCHOOL TRUST {DATCHET) UlaTEO IA Company Umlted by Guar4rt0•) REFERENCE ANO ADIfflNISTRATIVE DETAILS OF THE CHARJTAOLE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAREPIDED 31 AUGiIST 2023 TnJsto0s J L Clath. Chainn J A Booth1￿, VKe Cl*ir N J V*e Ch•r O ITe5KJned 4 Fets￿￿ 2023) V M Hc4lwy (resigned 28 Odthr20221 F Lovenbury (appthnted 31 Octobor 2022. rnsigned 18 Odober 2023) E Ma￿'n (wnted 3 ma￿ 20221 A S￿nde￿ Irfjs￿ned 21 Odc4xf 20221 M Se¢¢c*nbe lapFwirtsl 25 2¢Y22. 23Augusi 20241 J W F s￿lonh S Harfe (appointed 5 Jw* 20231 S mcl￿ Iwortled 20 Odober 20231 CoMp￿Y roglstsv number LW3043 Charity r•glstered numb•r 31( 35 Etlm Ro•J SL3 SIX S•Dlor1gad•rnhtsbt&im R COK Headtw*erfmm 1 Sepknljw 2022 S Bc4KI. Depity H&ad Pasirxal 1ndePthd￿t aud6torn MHA Bulfling 4 Foundati¢￿ Pak Royb¢mugh Way SL6 3UO 8ank• PO Box 12264 2nd Fk¥)r EC2R 8PB ETQM END SCHOOL TRUST IDATCHET) LIIITED IA Company Umbt•d by Guarant•el TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees wesent thwr annu4 rewl togdher the audited financHf statements of Ihe Eton End School Trust IDat¢hei) Limit•l for the 1 Sept￿)b￿ 2022 to 31 August 2023. The Annual Report ser*s tho pu￿05e6 of both a TNslees' report and a oirect￿3, report undercuwry Itw. The Truslee$ COnfi￿n that the Annual R8port and financial statements of the Charitatile CrThpany • with the cuThent statvtory requ1reTh￿ts. the reqUi￿nentS of the Ch¥it*e govemin9 dttumgnt and the p1ws￿$ of th9 SL*ement of Recomme￿Ied Practice {SORPI appli¢able to charilies wying their acc￿￿tS in ￿OrdanCe wlh Financhil Reporting Standard appli¢ablo in the UK and RepublK of Irelavj IFRS102). Since the Ch*it*lo Cuwrby (walr￿ as small under Se¢*￿ 383. the strateg￿ rei*Jl rw4uired of mediwn and large companies under The C(wnpanies Ad 20C6 (Strate9ic Report and Dyectorfs Rewtl Regulati¢Jns 2013 is not required. ObledlveB and acdvlll•¥ PofKie8 arnl o14e¢liv Th• School rn f￿ndId in 1936 fry th8 ed￿ati0Th S¢mS dau9ht8rn d Eton Mastors. Eton End Sch¢)d Trust was estsbfished m Math 1959 speufi¢*ly Yo a¢qu*e and tskè o¥er and cary on tho Sehool knuAffl as Eton End S¢hoc4 Oatc1￿ The Sc*tx4 h8d ongindty been founded as a PNEU Schotsl and the philosophy of this movernent vnth it5 focus on the T*hO￿ thild stll forms the ethos and vjrrirulurn lo this day. a5 do the historie links wilh Eton Colle9e. F8cdities at Ekn College are used bythe at least one Trustee i8 drawn from among their leaching brmty. In setting ow obieth¥es wrfl pIafir￿ry oyr a¢bffts w Twstees hm c¥eful consijeration to the Charty Commission's general guvjance on publ¢ benefft and li p&tw>Jl¥ to rts swplwTrentary P￿1¢ benaft guidance Cm advartiThJ ed￿atiOn and Qn fee ¢lwgiNJ. The Sth¢x4 accepts ¢hli ¢tren of di¥fjrsg backgYour•Js a l¥o•l range of abl*y a ftyTnal sdection The elhos is to Sat *andard$ rf ￿inmerrt to erthurdge pupds to aim high and devekp the￿ indmduat ￿tial to the fuN. It 1$ the poti¢y ofthe 8oard OfT￿￿te63 to make Eton End educalion A fomAI ￿rnrted butsary scheme is in pl&e. SCIM*￿.5 restrK*ed resources depeth¢e on fee incorne. the focus ha$ conlinu8d to be on the need to sw¢xt knulies th*hii the School in sthiou5 ha￿Sh￿ or distress. part￿￿aty vthern ¥￿r*￿e children arn inwknyd. uTr•ry policy C(￿Siden￿9 Ihe ffnancial crmstrants IM￿Sed by the Schoofs ofendryw￿ and the support already bèing emiemded in hardship cases. the SchCx￿ can ojrrenty onty ¢STer a fflrxlest scheme. t4¥hi¢h has neyw been offeiing 4tP to sèventy fNe per Lwt ￿uC110n in f&5 is aval*Jle for am pupil$. BuTsarie5 awarded at tr absolute diSC￿lOn d the Firwice Conmitee to Ihose carnlidate5 ft belit￿ MYJuld trthefft fmm an "Eton En¢r ETON END SCHOOL TRUST IDATCHETI UAITED IA Company Umlted by Guaranteè) TRiISTEES' REPORT {CONTINUEOI FOR ThE YEAR ENOED 31 AUGUST 2023 Strdl•gl¢ voport Kry ￿rf0mla￿¢Q Indkatovs As was foreseen last year. the sthJd faung thallenging time5 in tems of pupil recruftment and retenliDn. The Pe￿eNed drfffc￿ in gainirvJ an 11+ place ha5 been seen to cause an* arnongst the parerrt and 15 the reason far a nwntjer of puprfs le&irMJ Year 4 in July this ￿r. The sch￿1 ha5 WO￿ hard to re¢wii pupils and the converswy? rate fty fa￿lieS thgAting sth(w)l erther on a 1.1 cy coen day basts is high at 82%. how*ver are sffil fmding it hard to re￿ a wider targeted audierKe. The drop in pupil numbers has put pressure on school ffinance5 and wlmlst vati￿1S can te covered by fee ￿¢(￿Tre and uso of rgseNes, ￿￿1? yews will requirn carefvl YTh)nitoritYJ and sm dfftult ￿th0 Trustees look Ihe deosion to pursue the sale of the s¢htyJl and ha¥E negotiations wth a Nmber cl s(*￿￿5. griyjps. On 21st Noven*Jer 2W24 C<)ntra￿ wern exdwiged a pri¥at&¥ u*ffled complelion 1$ anttupat&J to ￿ 31st December 2024. This sale firture finanoal Stab￿ty. Ihe Trustees tsve Wep8￿ Ihese accounts refiecting thèir asoroble th& the sale wll P￿ceed S￿Ure the 8clKrfA's Operal￿r￿1 continurty through a n8W enlty. and oJThent cease edUC*on￿ th￿y. and forthis reason. the a¢(*unts are prepwed on a basB clherltrAn gtyng StrKJuhl the s* not ctyi¢*Ae as •rtiripated, thue is a signitlcant risk to U school's abilty to txnb"ThJe q)watsy. This p￿th0n has fuly d￿Sed to engjve transparency for al stakehokkn. Furlherdetals ryding thegtxry rnnc4m bw can be the xuuntire polici8S. twm obiecth¥es induding capital ewokn requ*eN￿￿￿ At 31 Augu512023 ts levd ol unrestrt¢ted funds was £4,156.0471È4.458.674 in the wev1￿S year) assets of £65.¥21 f2022: £411.0621 the substantial balar￿ tieing coxfreehdd arKI buibJing& ETON END SCHOOL TRUST IDATCHET) LIIffiD IA Company Limitod by Guarant••l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 ' Prfnclpal rbks and uncertalntles Tho Trustfjes habe assessed the mw iisks to the Chwitthe CLNW is ewed. in particu19r those related to the opernlions and finances of Ihe Chaiitat4e CuT¥>any. and we satisfied that systems and F￿0¢ed￿re5 are in place to mitigate exposure to the Mal'￿ risks. alb8it STgnbficant measure h8v8 been t*en to extend CTedit farAlfties and sed( akeM8tp￿ rn(xld& Th980 ￿kS we dkyussed rouiirdy through ts year. and fonnally once a year. Adthii0n￿ty. the TnKtees a￿ c¥motyJs of tr* statU￿Y *islatron. and prnactively address nthv and pendttTrJ legtslabon at rtgular Go¥eman¢e Sub Corrwniltee rrteelings. Other risks identifted, monitored and continuatly addRssed IrKI￿le.. fallirvj pwxl nufftss arrfl Ihe c￿lenge of sustsining pupil registratians." the abilty of parents to meat the finanual deffl￿S of ThJ8wd￿t edu¢abM- parb¢ul8Jty in fight of the curront economic ￿ndIt￿ms." the importance of ern￿1n9 and th"nvN highty qualffied and eNperienced staff.. and th? p￿￿$b)n of a suitable and well maintwned educalk)nd en¥irDnment. Further increases ￿ employer ￿ntrIbutionS for th• Teathors P•nsiM$ S¢hwne mrfiyatad by the CharitatAe Cryany to ￿]t the Sthema in Mor¢h 2024. wtuch avowjtyj the increw to em￿¢￿ conti1but￿ inlrr>*Jced in April 2￿24. The intrryjudton of VAT Scho(￿ fees. loss of b￿lnesS r*$ rel*f and loss of chaliith status are Siwrf￿ant risks that have driven ¢artful crAwder•lion. and TNstees atyeed to the af the s¢h(KJ in NOwm￿r 2024 to ensure lung temi sustairthilty. The Trustees Conlin￿￿* mu#lor the T￿￿le scqje d ar*¥tss Tthth iegwd to 8ny mior risks T*hth may arfs• from ttme to lime and io ensure that, on thè ofte haTh1 insularte ￿dIU*$ and pftmium$ afv PToperfy r•vi•w8d and Jju*ed whibt ￿ the other revi￿¥￿ tr* s￿l￿S of inlemal £￿t￿l and making sure thal they are •propriale for thg lask. Tho srtthl's Risk Reglsler is le9￿aty mie4WJ. Prlnclpal fundkn9 The year 2023 woduced an o¥wal d•ht of £3(r2.627 (2021. £7,374) after thwyiny deprnc1atK￿ ol £160.588 (2022." £146.4611. The Tnlgtees ¢tylTnued W*ith bul surgwvj fuel. ttealing and lighkng C¢￿ts haN* impathd finances in this year. along WTth hwh ra)sts for ￿ling proVi￿n. The inpact of falling pupil numbers was eycted to Produ￿ an cpw*ing defrt funded by the use of reser¥8s and banking farilities: infrastNdure arKI facility de¥ekprr*rt pn¥ects Thxlest as a cryuen caffled oul on adI￿n of SORP 2015. The net l¥y* vdue of freelmld propety ￿ £4.436.425. The Insured value of our buildiThJs alone is currenty £6.050.IXIO (2022.. £7.344.7221. ETON END SCHOOL TRUST {DATCHET) UIITED IA Company Umltod by Gu•rants•) TRUSTEES. REPORT ICONnNUED} FOR THE YEAR ENOEO 31 AUGUST 2023 Con8lltuUon The School is • ¢rryany. knlrted ty guarJrt•e, was I￿orP￿•￿ C￿ 23 Pa•th 1959. Th• School ig 4 regisleod ch*ity. number 310644. The otyeds are sat out wi the Memu8ndum and ArtKles of Assocration and are stipulated to lje bolh chaitatle and educat￿￿1. opwating Su￿luSeS are re invested in the s¢hcd. CuThentty the sclKxA a• boys and girts from the age 013 to 11. There are no speufic rests*kn￿$ impc£ed by It* and ArtKles ol Assocwti¢>n in the that I None of the Trustees has beneftsaj interest in the company. Al d the TnL4tees are rnem￿￿ of the company and gu•y*ee to cuttnlmrte £1 li tt* eveirt ofa *inding up. Third party indernnity irÈwJran¢e has been paMI on beh*fofthe Tnth& Th8 premhjm forlhis inSUTarKe cannot bg separatety idenbfKd The Go¥emin9 8&ty is reV￿tAe for the ol members as ré thinks fft end appoints the Trustees. The Tfustses b8lte¥e in the effedNenw of a Boa￿ a range of professior￿ or ¢omrneNal expeltse arwj 80orrfs area5 Of eMp•tise rany thryjgh finance. Iw and a¢countan Ir• some past (>)Thwr*on the In 202zr23 fr￿¢ T￿$￿ rnsiwed frnn the board. and thTeg The Bo¥d conlviues to seek &xtally yory as pwt d its $￿ceSsion planning VAI rtthnue to peOe io enknce the krthyknledge baso and nwn•3enwrt of the Board. The day lo day operatIL￿ and m8n8ga)*rf of the SchLxl are delega￿ to the Headmistress and her senior lead￿sh￿ tearn. V4th0 haw appointed ol Depathwt tr all etements ofthe A lull lirne Butsar assists tha HeathTristre55 Tmth the adm￿1St1atrkn• needs of the Sdwc4. manages the premi5e5 and super¥ises the firkinces. pro¥idift9 a link to the Chaimlan Trustee5 on finan¢xd aThd admintstratsve rnatte￿. He 81s0 a¢ts as Se¢Y8tary io the 8oard ofTnBt8e4 and a5 c￿￿lY Clwk O¥eTall strate9y kn the S¢lKxl is set IN the Tfu*ees. fwmalty meet at teast temly. Areas of respons*Jilty arg ddegated to Commiltees orto indmdual membws of the Board. The FirAn¢e Cthnmittee monitots finan(ial perfomi•wKe and recommends the Budget arKI Fee &aes to I￿1 8o•d In addition. there is an Academ C(ffjmunic8lYJns arrfl Dev Pagg 7 ETON END SCHOOL TRUST (DATCHETI UIAITEO IA Company Limll•d by Guavanteel TRUSTEES. REPORT ICOt4TINUED) FOR THE YEAR ENDED 31 AUGUST 2D23 Structurei gov•rnane• and manag•rnrt l¢onllnu•d> Pollcl•s •dopt•d for the Inducllon and lrnlnkng of Trusieeg An induction prowanme 7hithin the School is arranged nvwTrustees al￿ this 1$ geared to the ¢iroJm8lanc88 and e>perien* of the indMdLth con￿rned. Trustees are ervwraged to fwnilranse themselves the Chaity Commission website and are woboded the Independ￿t S¢hcts th* is also a rtwty. ated to the operations finarKes ofthe Charitable Cawy. and arn satisw that S￿leMS oThJ wocedures arn in pface lo mitigate expos￿ to the w risks. Pupil numbers remwn a issue aTrJ d￿e the ¥iablty tjf the Charitable Comparky. The of liw.ng isis is still evidert with svJnknl wessure on paenl and the looming Ihre8t of VAT cm fees. Maintsining an educaknl and pastr￿ offer thal rs differentiated from lo¢J competitots will be key. but Ihe Charilable Company roeds a fo¢us >narter mark81ir#J. CA)ngstent m05saging and thC￿LPlh Registrar processes to impro4* the s￿￿11)n. Alorysth ths. ts Twstees to opportunities for consoltdation in Pwje 8 ETON END SCHOOL TRUST (DATCHET) LIPATED {A Company LlffAted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Dbsclosur• ol Infomiatlon to audito Each ofthe persons who are Truslees at the lime when this Tru$lees' Rewt is ¥prove(I has confimied that". so far as that Tru$te• 15 avAr•, there 1$ no ￿l¥￿t audit infr￿M4t￿Jn of vthKh the ch•rity$ a4hgilots are unaware. and Ihal Trustee has taken *1 the steps that ovght to have been taken as a Trustee In ordei to be awa￿ of any relevant audit infomMIM>n and to establish that the Chari￿s a￿ltorS a￿ ￿are of that information. Approved by order ol the rneml￿ of the board of Tnjstees on and styned on Ih•"r behalf by". Clark ol Irustees Cha Page 9 ETON END se￿)0L TRUST IDATCHET) UMITED IA Company Llrnlted by Guar•nt••l STATEMENT OF TRUSTEES. RespoNSIBIUTIES FOR THE YEAR E14DED 31 AUGUST 2023 The Trustees a￿ also the direct¢Y5 of the Char(table Cornpany for purpose5 of ¢ompany lawl are r&ss>)nsible f¢¢ preparing Ihe Tr￿lees. Report induding the Strategic Report and the financ431 ststemen15 in acuKdance vthh appkable arwy Urmled K￿gd(￿n Accountsng Stsrmlwds (Unrted Kin9dom Ger￿rallY A¢¢epted Accountin9 Pra¢li¢el. Company law requifes the Trustees to prepare financial st*efflents for each financial year. Under company law. the Tru51oes musl not approve the finanaal statements unless thèy we satisf￿￿ that they gwe a true and faif view ol the slate of affairs of the Chatitable Company and of rts incoming resour¢es and application of resource5. including rts income and expenditufe, foi that pefKxI. In weparing these finan¢ial statements. the Twstees we required lo.. select sulta￿e accounting FdKies and then appty them conwstenttr. observe the meihods and prinoples of the Charities SORP IFRS 1￿2),. make judgment5 and a¢¢￿nbng eslimates that are re050nable prudent., state whether applitabk UK Accwnts"ng Stawwjards {FRS 1021 been foMow8d. subj￿1 to any mate(o1 departures disclosed and e¥pla¥*d in the financial slatemtnls". p￿pare ihe financial statements (m the going c¢xem basis unSess it 15 inappropnate to presume that the Chafitable Cornpany w￿1 cwth.nue in t#Jsiness. The Trustees a￿ responsitAe for keeping adequate a¢countin9 recryd5 thal a￿ suffKipnl lo and explain the Charilable Compan￿5 tr4n5XtThs and ￿￿kn5e rea50nable accuracy at ary ts.me Ihe financial p05ilion ol the Charilable Cornpany them to ensure that thp financial 5talemenls Gornpty wthilhe Companie5 Act 2006. Th¥y are also responsde lor safeguwding the a55ets of the Charrtabie Company and hence for taking Feasonable steps for the p¥evantion arwj detect*)n of fraud and other irreg￿tr5. ApprO￿d by order ol the nwiber5 of the bo¥d of Tru51ees on and sKJn¢d on 115 behlf by.. JLF Chair lark I TNstee8 Page 10 ETON END SCHOOL TRUST IDATCHET) UIATED IA Company Llrnlted ty Guarants•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ETON END SCHOOL TRUST IDATCHET) UMITED Oplnlon We have athlited the fffiarKial StateTh￿ ol Etrxt Errfl Sch￿1 Tnjst IDatcWI Limited {thg'chaFttaJle compan*) for Ihe year anded 31 ￿uSt 2023 camprise th8 St*wnart of FmarKial Actith"e4 ts 8al•nce Sheet. the SL*emerrt of C* Fknws and the ￿l¥lad noles. indLfvJing 8 summ•ry of ￿gnificant ac￿ntIng wlicies. Thg financid TepDrting f￿new01k that has bperh in 11￿￿ Fwaration is appIl￿ble law and Un¢ted Kj'ngdthn Acwuntin9 Stsndards, ind￿tir￿￿ Finanoal Wting Standard 102 Tr Finanaal Rep￿t￿9 Standard applicab in the UK and Repubh'cof Ireland. (U1*￿1 G￿r￿￿A¢cOPt￿ Ac¢wnliThJ Pr￿￿). In our ¢piThon th• finahial statemen￿. give a true and fwr vie* ot tr* #ate of the ¢h•itatile ¢tynpanYs affwr5 4$ at 31 August 2023 and af its inwmirwj rgsryjrcfjs and of tEswrces. uiduOing its eypgndilure year then .end Prath"¢e: aNI Basls for oplnlon We conducted rJJr in accor1J￿ Thilh Irternatio￿a1 Star￿￿ts on Audthg (UK) USAS IUIQ) and ap￿1(¥bIe law. Our respon&bdits'e5 underthose standarfs a￿ fvrther desul)ed in the Auditors. ￿pon&￿•11￿eS fcr the audlt of the finanaal StateM￿ts Section of our rwl We In(1q￿dent of Ihe ¢(Knpany in acCo￿ance with the ethical requirements that arè r￿￿nt to our atstht d the stalen￿ftts in tho Unrted lfjngdom, irKluding th& Financial Rerthiig CovrKAfs Standard. and w IAve fu1fi118d our olher ethical or￿1b11￿•S in a￿r￿an(g wilh ttmse reqLMr•i*nts. We beliv￿ thal the wdil ev•JerK8 we have obtaned remains ¥iable. the directo￿. expeclth is to sell the sdKx4 athNity aftw tMn• the ctynpany V•ill ceas• athmty. and theT8fcn do nt* constder it to be appropriate to adopt the goiig corum basis of OCCOLtnling in preparirKJ the fiftanty81 statemmts. Ac¢¢*thngty the fnw.al *atwnenb have been prepared on a bas1$ other than going ¢0￿M as dexFtsed in 24. (hJrwNon 15 n*yJrf￿j in dthis Tnatter. P•Jg11 ETON ENO SCHOOL TRUST IOATCHET) Ulrn IA Company Llmlted by Guarnnt••) INDEPENDEKf AUDITORS. IIEPQRT TO ThE IfftMPERS OF ETON E14D SCHC￿TRusT {DATCHETI UMITED ICONTINUEDI The other infofmation ¢ixnprises the infrymakn In¢1￿ in the Annual Report other than the financial stalfjmerts and ¢yJr Audrtors. Report therwJn. The TNstees are responsible for the other informthon contsined thin the Annual RewL Our on the finanaal sLiteTrMts thes {￿t cover the other inf0m￿tion ￿. except lo th8 extent oth¢fwise ewtuty slated in wr repcrt we do exprgss any lorn ofas8urnnce ¢￿￿U$l0n IheTeon. Our res￿$[￿[ty is to lead other infrymakn and. in doing so, oMsh1er whether the other infomialion 1$ Materi￿lY wKon*stent wth tl* financial st&ements or tyx knthb4edge obtsined in the course of the audit. or otherv*ise appear5 to be mateFi* misstated. If Njenlty ￿ Mat￿la1 incon5t51encies or apparent m*erial missL*ements. are required to detefflwne ￿t￿eT ttM5 gives rise to a mat￿[al mi$statement in the finawal slatements themsefves. 11, based on the WO￿ ha¥E perforn￿. th* Ihpre is a materFal We IH¥e nothing to r8POrt in this tegwd. Oplnlon on oth•r matt•rn pr•sC￿•d ty th• Cryanl•s kt 21106 In ourryirrion. based on the undertaken in the etyjtse ofthe •Jdt the infom￿1￿)￿ giv￿ in the TnJslee3' Report ir*JudffrfJ the Slrategic Report forthe financial yearfor which firwa•l Statem￿ we p• is ¢￿$1#¢nt tP* fin•rKial statements. the Tnjstees, Rewt * the Stratw Reptyl been prepar•d in a¢¢Orf￿ with applicable leg malle￿ ¢)n t*hi¢h w• •re r•qulrnd to by In the ol ow kThy*ledge ¥•1 UfK1w5￿ry of the th￿1t￿)I9 rA¥npany lis wThvonmenl obtsined in the courte ofthe audit nr* Identi￿ ffl*rial Misstate￿ in the TNstees' Report irdudiNJ the Strategic Reprrt s to report to y)u rf, in cyn1￿. ade9￿ acwJnlirvJ rectyds bew •Jequ*¥ fcy OJT audk have not bgen P•Je 12 ETON END SCHOOL TrUST IDATCHET) UI*TED (A Cornpany Llffllted by Guarnnts•) INDEPENDENT AULXTORS, REPORT TO THE MEMBERS C* ETON END SCHOOL TRiIST IDATCHETI UMITEO ICONTINUED) RospoMibMlti•s oftnAt••s As eypFained more in the Tn￿lee$. Resportsbi frties Statonen( the Tn5slees (who ar2 also ￿ dire(*or8 01 the charitable ¢offlpany for the of ¢ns ofusws tthen ￿ the b86is ofthe5e financial statements. Irregularitses, inc*J¢fing trdud. are instsnces Iw6 and re9ulallon& We desffjn ￿￿eduleS in line w&h OUT w5ibililres. outhned lo d*ect m*eiial misst*ements in re5P8Ct of iffegvJariti"oS, inclLbaiThJ fraud. The extent to Mthich txr w(KeduTes •E cop8bl• d detectK￿ wregUlw￿fj$, fraud is detailed bekw. Perfomiing audit work o¥er the risk of manwent ￿4￿7de of contrds. tesling of journal ontries with applKatrAe I￿ Be¢ause of the intiemt lirrntatsons of an audl ttrtsp is a risk that not dde¢t all irregul8rilies. induding those leading to a Ma￿7* misst8temtt￿ in the fina¥i41 Stater1￿ or noTrcnpatys merrthr5. a8 a brAty. in accNdan¢e with Chapter 3 of Part 16 of the Cornpanies Acl 2Cth. Our aud* work has teen undertaken so that we might state lo the Charitable companls memt*rs those rndters ￿ are requyed io slate to them in an ALtditorn' Report and for no other purF￿. To the fullest extent pemitted by Iw*, ￿ do not accept or assumg rgsponsibildy to anyone other than the charhable conyry •Yl ils rn￿bers. as a t<*. for w •Jdit fty thi$ rw( tx for the ryirmolls VIE BIANCA SILVA 8AACA fxhA (Senlor Slatsrtory Audknr) for and ￿ behaw riHA {Statutory Audltorl denhead, Unit•d1trgJ￿1 MHA the Ir&YTrig name d PAaclnty8 Htyj8￿ LLP. 8 I1• partne(8hl) In EThJaknd Walgs (regists￿d llLNnb8r OC312313) Oate.. 20 Decents 2024 Pag8 14 ETON END SCHOOL TRUST IDATCHET) UMITED IA Company Umltod by Guarants•) STATEMENT OF FIIIANCIAL ACTIVFllES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENOED 31 AUGUST 2023 T(tsl nds 2022 nds 2023 funds Incom• from: Oonations I￿a￿¥S Chaiitable actMiJe$ 186S,9n Iw.9n 3.M.832 14494 14.494 T¢)lal Income 2.880,467 2AIO,467 3.113,889 Expendlture on: . Rai*n9 fijnds Ch*ble ￿lI￿￿'e$ 25,29) 3.081.225 3.130.502 4130.502 Totsl •¥wndltsJrn 3,183.094 3.183.1)>4 3.106.515 1302.62n IK627) 7,374 Reconclllallon of funds: Total funds brThWtfr)r* Net moNYrtht in fvrmh 4.451674 4458.674 1302,627) 4.451.300 7.374 Tolal fvnds Garried fort¥anl 4151047 4.1SQ047 4.458,674 P¥Je 15 ETON EIID SCH(X>L TRiIST IfA4TCHEn UMITED (A Cwnpany Llmlt•d by Gu•rants•l REQSTEREO NUMBeR: 01)623043 a4LANCE SHEET AS AT 31 AUGUST X123 2023 2023 21722 2022 Fixed assets Tangbi le assels 12 4509.78$ 4.550.$30 4509.715 4.550.530 13 Cash at barA( and in 921 411.082 829.691 1,247,916 C￿rt0￿.. lalling due vAthin ye•r 14 (1.102.667) rANrent liaknlhies l aBse¢s 1166366) 145,249 Tolal ass•ts1•55 cuThfjnt liabilibos 4.313￿19 4.695.779 Creditors: amounts falling due after m¢xe than >tar 15 1187,4721 (237.105) Tot*1 net assots 4.156.047 4.458,674 Charftyfunds Reslrictedfunds un￿51nded funds 16 16 4156.047 4,458.674 Total fuThls 156.047 4.458,674 JLF Chair Date.. lark f Trustees Page 16 EfoN EIID SCHOOL TRUST IDATCHEn UlfftD IA Company LIMIt￿ by Gu•ranl•o1 STATEMENT OF CASH FLOWS FOR ThE YEAR ENDED 31 AUGUST 2023 2022 (171,7681 181.570 C•sh fl¢Ms from invegting aclivits Loon interest pad Purchase oll•7gble ass 110.tsSg1 1123.5631 fl.001) 192,889) 1131612) {99.890) Cash flo￿ from financlng •thlll¢s Repayments of borrrMiNJ Depowts recei4*d {37,659> 3001 137,9301 (5,41)01 (449591 143,3301 Chang¢ in cash and Ctsh •qwv4lents in th•y•ar (356.3391 373.232 Cash and cash •quival•nts at th• •nd of th• y 55243 411.582 P4e17 ETOM END s￿oL TRUST (DATCHET) UMITED IA Company Llmll•d ty Guarantee) NOTES TO ThE HNANCIAL STATEMEiirs FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng polldes inCo￿tYaIed in England and Wath and is a registered charty number 31CW. The pmcipal adth$$ and reg¢steTed office is Eicffi End S¢hod. 35 Eton Road. Dat¢hei B•l($hirn. SL3 9A The ffinan¢i8f Stat￿nts been wepwed in 8¢£tyd￿ Ihe Chwfties SORP IFRS 102) . P*¢tyJnling Repytirvj ty Char￿￿5.. Statement of Recommended Practice appyicabte to ¢harities pwring their a¢C￿jnts in xcordarTh with the Financyal Re[￿•r9 ￿darl applicable in the UK aThl R￿ubl￿ of Ireland (FRS 1021 leff8CtNe 1 J￿￿¥Y 20191, lh8 Fina￿al R8FrfXting Standard applicab￿ in I￿ of Irdar•J (FRS 102) arnl CryntasAct 2[￿. Eion End School Trust {Datchet) knmtsd meets de￿￿"On of a public bgn•fit gntty undgr FRS 102. Ass•ts aThJ lithiths •¢ initially rec￿nIsed * hi5toric4 ¢0st or tran5adiw ¥olue unless otheNise ststed in the relevant a¢¢ounb"ng pcli¢y. Th* ￿an(l￿ ststwnents are prt$ented ￿ sterting wto¢h is the fvn¢bc*)al olthe rt*nty. The Su￿1￿¢•nI a¢¢ountiThJ pol(¥es awied in the pre&wakn ofthese firtancial statements a￿ sel out 1.2 Cthnplry statt Go¥emors named on pap 1. In event of the CharrtatrA• c￿panY bw.ng T*￿nd up. the liath.lty in 1A Golng ¢onc¢rn In p￿ing Ihese financMI sta¢￿Thts. the Twstee5 habE assessed the sclK*)I's abilty to ¢¢￿tinue as a going ¢¥Mcem. The schorA kn eywien￿l finarKial dnT￿￿tieS due to the political and e0jnr￿ic enyironm￿l ￿su￿ in dedin1￿ enrdmenl and irKxeased rAJsts. whth has 19d to a Trustees conduded th* emtsmd fina￿1￿ surwt ¥ras oquired to ￿sUre the schr￿1 remainod Eaty in 2024. the TDjSt￿ tr￿[ the d￿lSiOn to ￿j￿Ue sae of the sthool arHI ha¥e tr*en in negolia1ions wilh a n￿ber of sth￿l5. gmups. On 21st 2￿24 contracts were exchanged ilh a piTrRtely gnjw) wnpratil￿ is ￿tsc￿ated ta ￿ 31st De¢ember 2024. This sale nable e¥pe¢tsfb)n th* tt* sale vffjif secwe the scknl's operatsnal ￿nts"nu￿ "cipat¢d. ltr￿re is a signfficant risk to the $Ch￿S al￿￿ty lo c4ntinue ¢yratry. This p)%lion has Pap 18 From END SCHOOL TRVST IDATCHET) UMITED (A Company Llffllted by GuaR￿t￿l NOTES TO ThE FINAACIAL STATEAIENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng poil¢l•s (wntlnu•d) 1A Fund •ccountlng General lunds are Unrest￿ fvnds a￿at19 for use at the disc¥et*￿ d the Trustees in furtfiernn￿ of the generdl obieclNes of the ch￿11￿ Company arKI habe not been dgsignated for other wtTYAes. Desigmaled funds comwse unrestricted fund5 that been set askle bythe Trustees for parkular puwe$. awn •KI use of each de• fund is set rjjl li thg notes lo Ihe"finan¢i 1.6 Income JI inc￿ne is rg¢09niwl wce Ihe Charitaljlg has entAlement to the inoTh. it is probab that the irKome w￿1 be rKek¥gd ￿ the aTr)unl ofinwne r￿1*￿tA0 w be measured le￿¥b￿. Oiher incorna is recogrmsed in the pWir￿1 in it is recavthle and to ts oxlert the gofyls ha¥• 1.8 F••s Fees consist (1d￿rgeS for the SCI￿1 Jvr wmled 31 August 2023. less 189 cryKessions for Sblinys. staff and chikfjren rl Eton Cc41ege Mast P4e 19 ETON END SCHOOL TRUST IDATCHED UI IA Company Llrnlt¢d by Guarantee) NOTES TO THE FINA14CIAL STATEMENTS FOR THE YEAR EWDED 31 AUGUST 2023 Accountlng pollcles (¢ontlnued) 1.7 EX￿r￿lI¢￿Tr Eypgnditure is Yecogni5ed tt*re is • l* ¢x ¢￿StrUCt￿￿ oblwJafy"¢)n to tran5fvr econoff*¢ benefrt to a thi￿ paity, it i8 prc4}ab￿ that a transfer of economic benefits will bg required in settlement and the amount olthe obli9atiM be measured relw. Expwdthre is classified by ec*"vity. The costs of each a¢tivity are made up d the tc*4 crf dirtd costs and $harnd ¢ost5. including Supwt costs in¥olwJ in undertthng eath thty. D"treG* trjsls 8tlr#xtsble to a single activity we allocated diw¢tly to that Shared costs contsibute to or* tithvity and support costs which'arg t attr1tr￿rtab[e to a athity are 4W¢oned btheen those xtivities on a basi$ consi51enl with use of resour￿. Central staff are aktated on the basis of ts.me spgnl ond depTecialion apJes alk￿8￿ on the portKin of th• assrfs uso. Chaitatil• a¢ts*t*s and Go¥emvKe costs are costs inujrred on the Charitable Compan1$ operakns. indudiThJ swbort costs costs rdats'ng to the gu¥tmance of the Chanloble Company i￿Y ty the ChartatAe thi5 is n￿rnaty Up1￿ n(thatm￿ of tho intsrest pgbj or payable tytheBan 1.9 Operatkng lea Ir•xme and Ewe￿IllUre A(tount on a StraT9ht linè basis lease tem. 1.10 T•xatk The Chwitale Cthwy is c(M*ide￿o to pass tr¢ tests set ¢NI in Parag￿h 1 Schedule 6 01 the F￿an¢eAc1 2010 and therefore it meets the definrfion al a chattable cornpanyfor UK corporation tax pu￿ses. Accordingty. the ch￿1￿7b1e Cryany r6 PCIent￿ty exempl from taxation in respect of irKome or ¢apiW gans re¢wved c*egori•s covered by Chapter 3 Part 11 of Ihe Corpornts'on Tax A¢1 2010 OT Se¢ticffi 256 of the Tav4ion of Ch*g8aAg Ga#1$ Acl 1W2. to the exlenl that such Ir￿ or g•iny *e ¥Wied exdusNetyto ¢hanl* purptsses. Page 20 EfoN END SCHOOL TRik8T IDATCHET) UMITED IA Company Llmll•d by Guaran18•1 IIOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2023 oundng polkl•s (conllnu•dl 1.11 PeDslon$ b•nefits to (rf the Clwitable Ctywy arp pwd&J by the Teachern. Pension Scheme rTPS"l. This is a defmed benefft scheme aThJ the assets afe hekl s¢paT*ely from those of the The TPS is an ￿￿ftded and contn'butions oro so as to sp￿ad the cost of pensK)ns ovw unpsayees, *Y#￿"n9 li¥es ¥￿h the S¢h¢*Y in such a way that the Perts￿n ¢ast r& a $ubstsntially level of current p￿onab￿ Pa￿011. The ¢xmtributtons a deteThnined by the GrhTmment ALluary ￿ the basis of quadrennial valuations using a prospective unit credit methcd. As stated in note 21. the TPS is a mull￿em[4¢)VeT scheme ond there is insuffici￿1 Informati￿ avalabl8 to use defined beff￿t ￿￿ting. The 7PS 1$ therefoTr treatsd as a defined contrbution SCI￿￿ for aCC￿tir￿j pury>oses and thè CA￿￿tA￿S (eeognised in the period to whith 1.12T•nglbl• Ilx•d assets and thwtti•tlon T￿￿fiXed assets arn irw lewi￿1 at cosL Alier wn111￿. uThJ8rthe o)st model, iangible fixed assets are measured at co* less aCuJTh￿Iatad •d any ¥£umulated irnpairment losses. AN Costs inwed to bring a taryibk fwl asset rLto its urter¥Jed trAdition should be A Mewfor tr￿parm&￿ ol a r￿j asset is caffied or ¢iTcumstances ii*Jut8 that the canying vah* of fixed asset not b8 recobwth. SPrt)rW￿ls be￿8￿ the Ca￿Ing Vall￿ cl fixed assets and Iheir rec(*￿￿ a)K￿nts We re¢¢gnwd as impwm18nts. Impainnent ounL . 2.5%. 25% redu(xry baTrar￿ I￿1(￿ngS orty) Frxtures. fkn"n9s . 25% reduc4n9 b Comwter equwient 1.13 Dd>tovs arn￿ prepaid. 1.14 C•sh at bank •nd In Iw Cash at bank aThl in IWKI in¢kh1es (*sh and slKrt temi Iryh￿ Iquttl inve51mentswlh a short malurty of three months (¥ lessfrom the d*e of atswisrtp￿ tywing ¢Jthe deposl OT wmlar aC(a￿AL Page21 EfoN END SCHOOL TRUST PATCHET) UIAITED IA Company Llmli•d by Guarnnt•el NOTES TO THE FINANC￿ STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Ac¢ounllng pollcley Ic¢yntlThued) 1.15 Uablllll•s and wovislons Lthllies arn recwised there is ￿ oblipkn at the Balance Sheet da8 as a result ol a past evert it is prob*e lh* a transfer of ectyK¥niC benefft %*ill be required #i $￿eMent, and the amount settleryRnt b? esim*ed T￿￿￿y. Loblilies ort rg¢ognised at emount that the Chantable cunp￿Y anb"¢pales rt whl pay to sdye the debl or the 8mtyJrrt it has raceived as ProNisions *e measufed at the best estimate of the •nounts requwed to settle the obligation. Where the effect ofthe tme value ol Money is mater&, the provision is based on the PIts￿t value ofthose n￿nts. di5COLNrted al the p(e-tax discourt rale that refiects the risks speafic to the liatiilty. The unwmthng oflhe dwwnt * rec¢gni￿ withth) inlwest payth * smlarc*wges. The Chaiitatjle Crn holds IH51c financ4al instruments as defined in FRS 102. The f*Ancial assels and finwal Itabll￿s ofthe Clwitatile C¢￿Y and their measurernent basi5 as follow5: lue. Fffian¢O - trade frnjrttys. WU8L% ther ueditors ore frnn(3￿ inslnjrerts. and ae measured at wnoytised ¢ost as detsiSed in FYAe$ 14 15. Twbon arKI wcial se¢urity not Ind￿￿ed in the finanual instruments ¢JisdosuTe definrtion. Oeferrtd Incor￿ is nc* ￿e￿ed to be finanraal li*hty. as the cash se111￿￿t has alreth taken *ce there is an oblvJalI￿ to delNer services rather cash or andher financial instwrnent Bank k)ans ar• initralty recryjnised at facto￿. indu¢*ThJ e¥￿tall￿ of f￿re e¥uts that are be1￿%￿d to be reasonth under the The Charilable Crynpany makes e5tsnates and aSs[ry￿n5 concemiro Ihe firture. The resufting Ciitrcal areas c11￿]YMent IhDs8 ¢¢Y￿rnIng the d￿rCe OfdeP￿1ats￿ arKI ass* fr¥e& ETON EIID SCHOOL TRUST (DATCHET) UIAITED {A Cornp•ny Umlted by GuaRnteel 140TES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 AUGUST 2023 Incom8 from don•tloM and leg•cles Total fund$ 2023 lund$ 2023 unrestn.cted funds 2022 Total funds 2022 f¥nds 2023 funds 2023 2.733.264 2,73J264 3.91)0 3,900 8.034 162.705 (30.9901 (10.9401 Sthtyjl fee 162.70S 130.990) {10.940) Discounts Total 2023 2.865,973 2.865.973 ETON END SCHOOL TRusf IDATCHET) UMITED A Company Llrnlted by Guarnntg01 NOTES TO THE FINANCIAL STATEMEiirs FOR THE YEAR ENOED 31 AUGUST 2023 Unrestricted funds 2022 Total fiJnd$ 2022 2.W,898 3.600 8,432 163.668 115.794) 143.972) 2.980,896 3,600 8.432 183,668 {15,794) {43.9r2) Other incom? Bu￿a Discounls 2022 3.￿.832 3,0*,832 IrKomo from oth•rlradkng acllvlU•s Unvestrfet•d funds 2023 Total funds 2023 FundrdisiNJ 14.494 14.494 Total funds 2022 funds 2022 F￿d￿ls￿ 9,057 9.051 ETON ENO sCHOc￿ TrUST IDATCHET) UMITED IA Comparby Urnlted by Guardnl•e) NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 AUGUST 2023 Costs of r4l$lng fund¥ Total funds 2023 fund$ 2023 Ewendlture on fuThtragng 52.592 52.592 UnTestrided fiJnds Total funds 2022 25.290 25.290 Summary by fvnd typ• UnTes￿¢ted funds 2023 3.130.5W2 3.130J02 fvnds 3.081.225 3.081225 P4e25 ETON END SCHOOL TRUST IDATCHET) UMITED IA Company Llmit•d by Gu4rantse) NOTES TO THE FINAIICIAL STATEIIENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analy$ls of o¥w*ndiiurn on ¢h#itablo xtivliles (¢othtinu•dl 8unMnary by typ• Total 2023 2023 2023 Charitabfe adi¥ibes 2.034. 1fLI.588 935.278 3.130.S02 T￿1 2022 2022 2022 2022 1.885.101 146.461 1.049.563 3,081.225 ndertakan dlrn¢ty 2023 Support funds 2023 2023 2.(KJ8,814 1.121.688 3.130,502 fiJnd$ 2022 2022 2022 1.917.655 1.163.570 3.081225 ETON EMD SCHO(X TRUST {DATCHET) UMITED IA Company Llffllt4d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 A￿18 of •xp•ndlture ty a¢li¥ttl•s Ic<¥rflnuedl Anaty$￿ oldlr•ct ￿sts Total lund$ Total nds 21r12 Teachers. salarie8 Agency staff Tuitpjn m*rials et 1,7￿.$50 21.830 230.326 1.6S1.151 47.427 219.OTT 1008.814 1.917,655 Anatysls Of Support￿$￿ Total lunds 2023 Total frjnds 2022 234,030 146.461 193.836 225,244 10.350 328.396 21.969 3,284 Depreckabon 160.698 210,612 247,345 13,WO 131.610 Catering Finance oy Othercosts Legal and profrssional fees 61.769 1.121.688 1.163.570 Pw27 EfoN END SCHOOL TRUST IOATCHEn LWAITED (A Company Limlt•d by Guarnnts•) NOTES TO THE FINANCIAL STATEIAElffS FOR THE YEAR ENDED 31 AUGUST 2023 Tri$ is sL*ed after charyw￿. 2023 2022 Dewecialion of lang*￿8 fued assets bytr* chwtty AuthtOT5' remunerdtion. audit 160.588 13.500 13.019 17.862 146,461 11.400 14.959 10. Staff costs 2023 2022 1.64041 14430 165 1.498.044 149.787 239.350 Social seryjrty Costs IOJ4.636 1.885.181 2023 2022 27 17 Tea¢hing Assista*s Ailminislralion 19 Prye 28 ETON END SCHOOL TRUST (DATCHED UIITED IA Comp•ny Llmltsd by GU￿￿e*l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 1Q Slaff casts Icwdnu•dl £60.0(¥J 2023 No. 2022 No In tho £60.001-£70,0(LI In the band £70.001- £80.000 Corrtr*iutions in the year to the TeKhws' Pension SchTh were £18.293 P022.. £18.6481 and th• m￿89¢Ment le￿ as listed 1. The tdal ￿nI of emplgbee benefits fmduding empl¢)y8r P￿s￿A and enFI(yyer nth.¢￿al insurance c UMITEO {A Company Limit•d by Guarnn¢••l NOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENOEO 31 AUGUST 2023 11 Tawlble Ilxed assets Fr•*hold Ilttlngs and Cornput•r •qulpm•nt equipm•nt Cos1 or valuatlon At 1 SeO•nb•r2022 Additi)ns S290.￿ . 221. 204N79 38,752 4716.810 123.553 179,4311 sposa f19.431) At 31 A￿juSt 2023 243231 4760.932 At 1 Septsmbgr 2022 Charye fcf Ihe 167,135 31.396 1.166.280 160.588 (75.721) ri4T21> 131 August2023 94626 99,990 1gJN1 1.251.147 14•t Iwk ¥4u• At 31 Awst 2023 4337.719 127J66 44700 4509.785 At 31 A￿U51 2022 4.436.425 76.781 37,344 4.550,530 I￿luded in fr9ghrld prq>81ty 15 freew l•KI £2.000.(m (2022.. É2.lKIO.O￿) wlM* 15 Mt 2023 2022 Due TAlthln one y .gJ1 1839 831.218 5,616 763.770 836.834 P•Je 30 ETON END SCHOOL TRUST IDATCHET) UMITED IA Comparby Llmlt¢d by Guarantee) MOTes ro THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2D23 1& Cr•ditorn: Amounts f4ling du• Thithin onoymr 2023 2022 10.678 41113 24479 39.552 40.202 837.933 Bank loans and (hwdrafts T￿le creditW5 Other taxats.on aThJ xK?al seam Other creditors 37.939 38,340 32,989 916.839 994957 1.102,867 2022 Deferwd in¢tyne ot 1 Septernber 2￿2 Resour¢es deferred dtsmw the year 886.221 78A794 880.411 1880.4111 {866.2211 880.411 The bank108n of£241.(XIO from 23 Juty 2019 15 Se￿rtd by a first W charye overthe Ireehold and b￿ld1￿J5 al Eton ErKI Sth¢xil. P￿¢ 31 ET¢)N END SCHOOL TRUST {DATCHET) UIAITED ' IA Company Llmlt•d by Guarantso) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENOED 31 AUGUST 2023 1& Crnditorn: Am¢wnts falling due after morn than one yar 2023 2022 88￿ lows Fee deposits and fees r*xi¥ed in ad¥wKe 120,172 50.600 170,705 66,400 187N72 237.105 IrKI￿led wthin the fakng due 8$f￿1￿. 2023 Bank knans 11000 15.1 Bank k)ans 87.434 19.•00 116.398 20.400 Bank loa)s 14.998 31.000 26,81YJ r•porkn'r#J dae is: 2023 Repayable olherthan ty in&alffl 31.000 The bart( facity. a Iw5in5S kwi of É241.LW. is Eeawed by a first IW Ch￿ overthe froohokl land and budthngs a Eton End Sth(￿. The is ¢)ver 8 ￿arS *ith irterest tharged at 2.75% p.a base *. A went trA3lwJay w tkn fr￿ Juty 2020 to De¢ 2020. onty the interest S¢hern. No inlwesl i% ¢lwged during the frt 12 ￿ w#h 2.5% intere* beng thaTged h) sub$4quent The k*n is r8pay4bJe >t•s, w￿h a 12 nv)nth rtpayment hol￿aY fMI the date (Jn whith the loan ts t*•m ETON END SCHOOL TrUST IDATCHET) UMITED (A Company Urnlted by Guarante•) NOTES TO THE FINANCI￿ STATEAIEPITS FOR THE YEAR ENDED 31 AUGUST 20n 1& Stat•mert ol funds Statement oflynds. y Balance at 1 Baf•K• at TAnsf•r$ 31 August lTrlout 2023 Unroslrfc¢￿ funds D•slgnated fvnds Flo(xl fvnd. a￿￿ts Flood ox¢ess fund 71.0SJ (Y378 63,775 12.ofAI 143.053 .278) 11000 147.776 G•noral funds General Funds- Bll .640 18KIA67 14175,816) 1728.981 31.225 322.516 143,2251 3.685.766 314621 18Klh67 A175.116) 112,iMJO) 4008,272 4A58.674 2.a80,487 13,183.094) 4156Jb47 The Governors haw destqnatgj a firnd c￿le￿ fv flc*Jd fijnd. ¢•pit81 assds lo keep of income and tlood in the future. The to buildiThJs on lrnisition lo SORP 2015 on 1 Septathr 2014. ueakng revduatix rtser4T. The trnnsfer bel*￿ tf¢e revaluation buhJirwJs. ETON END SCHOOL TRUST IDATCHED UMITEO IA Comp4ny Urnit•d by Guarnntqo) PIOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 1& StatOmo￿ ol lunds {C¢￿tInued) St•tom•nt Qffunds. prwx y• Balance at 31 August 2ff22 Transfers inloul 2021 Unr•strlcted funds Deslgnated funds Flwj fund. CW assels 79.747 36.000 (8,694) 71.053 72.000 36.000 115,747 (8.694) 36.000 143,053 G•n•rnl funds General unYestsi¢ted l￿d$ ,239 3.113.889 13.097.821) 3.773.314 8.333 144,333) 3,728.981 4.335.553 3.113.889 (3.097,821) 136.¢)00) 4.315.621 Total unles1rf￿ fund$ 4.451.3(Xl 3.113.889 [3.1(￿.515) 4.458,674 fvnds funds 2023 Tongible fixed assets 4.509.785 4.$09.785 829,691 029,691 1995.9571 (995.957) {187.4721 1187.472) Credlors due *11h￿ ¢￿e > 4.1&8.047 4.156.047 Page 34 ETON END SCHOOL TRUST (DATCHEQ UlaTED {A Company Llmlt•d by Guaran¢•g1 NOTES TO THE FEIIAN(JAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST X123 17. Anatysls (Anot 4SS4ts b•lwn funds (conunuod) Unrestri¢Aed Jnds funds 2022 2tr22 T￿gIble fixed ass¥ts Current assets Creditors due wlhThi one Credilots thje in nKJTe Or￿ 4,550.530 4.550.530 1,247.916 1.247.916 (1.102.667) (1.102.667) (237.1051 1237,10S) 4.451674 4.458.674 2022 Nel IrrtC¥n&leYp￿d1￿• for th8 (as per Slthwnl of FI￿n(la Adivities) 13tt62n 7,374 160, 3,710 146.461 582 (3.157) 23.309 7.001 LIM w the sale offix•d assets 1n¢reaselldecR￿l m uedittys Loan interest 1121.5621 10.059 1176.768) 181.570 2022 .cash￿h 411.582 (10.6ni SS243 411.582 ETOM END SCHOCL TRUST IDATCKET) LIAITED IA Company Lirnitsd by Guarnnt••) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2023 20. Analysls ofch•ngM In n•t d•bt At31 20# C•sh fiowy August 2023 Cash at bank afKI in harml 13441611 {10,678) (4174) 65,921 110,6781 Debt due within 1 Debt (kR after 1 y 137.9391 1237.1051 1187A721 136.038 {310.3801 1174.3421 ETON END SCHOOL TRUST (DATCHETI UMITED IA Company Llrnltod by Guarnntsel NOTES TO THE FINANc￿L STATEAIEllfS FOR THE YEAR ENOED 31 AUGUST 2023 The Charil8ble Ccfflpany belong to tiwo prinuo pensffi 8c*eines'. the Toa¢h8rs' Pens Scheme for England and Waks fur acad*nK aThJ relateil slafF. WKI a defined contributpJns pensi 2020 Contributions to £24.550 *Trre to Ihg Sd￿M￿ at 31 ALWt %)23 (202t.£26,S37) and are i￿lUded within credrtors. th• Texhers. Pen$iM S¢t•rn Rewlaticffls 2014. fvignbersts"p is aut¢rn*c for tea¢h¢rs #i $chools. Al teKhern the lo ofthe TPS f¢thphiNJ enrt*n The TPS is an unlunded sdwne ts> Ththich both the rnefflt￿ and empknyer maes ¢xntribuiion4 as a p8rc8nlage ol saay . th8se c0th￿l0n5 are rjgthed to Ihe Ex¢hwJer. Refiren￿l other pension beneffts ar• bYWkn[¢f￿d$ proMd¢d by P•lwn Valuati¢yn of thè Tettchern. Penslon S¢h•M in ¥C¢Onl￿¢e the FI￿r¢ S¢r4tt Pens￿5 NohJatThs EmFloypr Cost C•pl Diredtons 2014 PLtslished by HM Treasury every 4 >ears. The 8wn ¢Jf the 15 to sperify the level of fLtlur conlributtons. Adjjaiial schune valu8lJons are dependent on asswnplKxis about the ¥7lue of future Msts, design of beneffts and other facto￿. The l*sl adwial valuatm of the TPS was carried oul as at 31 March 2020. The tdu*on rBport¥rdS wblished bytr* Depath•tt tty Education ￿ 27 October 2023. emptyro)ntrIbul•￿ th Set at 28.68% ol￿si￿able pay (irt1￿1*vj a 0.￿ admini51rn1i￿ le￿) total s(*eme lthibes Imions tn p* and Ihe e51imated o)si of firtUTe beneftsl for ser¥K% to the effe￿r￿e date of £218.100 MI￿n aThl n(l￿al assets {estimated future together with the InNES￿rts I￿1 at the 4qlualirn dae) of£1*.100 mllicffl. gp*•W a notion past de￿1 of£22.OD) rnllion the SCAPE rats. sfjt by HI￿. 15 used to d￿e￿In8th? rK*(Thl In￿$trn￿ r*wn. The cul￿t SCAPE raia is 2.4% *)¥9 the rnte of CPI. assumed wl rate ofreium 1$ 2.4% li excess of prices and 2% in gxcess ol earrthigs. The th of eamiws gThth is assw)wd lo be 2.2%. The assurTEd n(Intr￿1 rate of indudirvj grrthth is 4.45%. Th8 resuft d this ￿11 be Implwnw*￿ fr¢ffn I 2024.Tr* next ¥al￿b￿l rewlt is due to be in*m8nted fri*n 1 Awl 20 The ￿lO¥e￿S costs p*1 to Trs •1 lh• pernd to £228.271 (2Q2.. £21&n41 A Copy rA the latest Iwt be frxmd by fdkT4ing th[¥ link to Ihe Te%•*rn' Pen￿￿ S¢tr iknder Ihe defin￿on$ sel (xrt in FRS 101 the TPS is mulwipkn￿ pens¢im scheme. Thè ompany is unable to ￿ its Sha￿ of the assets and WNie5 ofthe p￿n. AC￿J￿11th. Ihe crynpany lakn ad¥•tsge rlthe FRS 102 ar￿ has wyjnled fty its o)nlnbuliw to th& Page 37 ETON END SCHOOL TRUST (DATCHETI Ul￿D (A Company Llmitsd by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR Tme YEAR ENDED 31 AUGUST 2023 21. P¢nslon commllmmts I￿rtInu•d1 Scheme as rf rt were a defined sth•M. The Clwitth c￿paThy has set out above the held sepwatdy from those of the Chaltat￿e CL¥npany in an irKleperAJèrty administered fvnd. The pOns￿n f>)st charg8 reprwnts contsitwbcm by the Ch*thte Cthwy to fvnd and amounted to £25.894 (2022. £23,626). Ai 31 August 2023 the cl7•￿1& had cc•Mil￿ to m*e futurn mininum1gas•.payTn•nts 2022 Not laterlhan 1 Later than 1 yand latqfthan 5 9,6n 1Q308 15.215 25,355 2.630 43.200 The Ch￿Ie Cryny pjrchased buthfry sepites frorn Chatsnws Property of value £nil (2022.. £2.520) . Chaknw5 Prr•ety is ty the step of Z Lc4Jan (key manag9n￿l personnel) . At 31 the partner d Z Lw (ke>T p*#i*ind) .At 31 AUg￿t 2023, vJ5 rytstandin9 (2022.. £11.3131 The Ch•ilable Cory•ry *rfe dJ Sl•rforth (a Iwstee) . ETON END SCHOOL TrUST IOATCHEn UMITED IA Company Llmlt•d by Guarant#l NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR EN(￿ 31 AUGUST 2023 Going concern Al 31 August 2023. the Chaitai4e Company has ￿ 4>Jrrenl 4abdittes of £166.266 and Creditorn due aftor m¢Ye than one yew of £187.472. manty relating to bank loons repayaie in 2026 and 2028. Bank