COMPANY REGISTRATION NUMBER: 00795895
CHARITY REGISTRATION NUMBER: 310865
St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Financial Statements
31 August 2024
EDMUND CARR LLP
Chartered Accountants & Statutory Auditor
146 New London Road
Chelmsford
Essex
CM2 OAW

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Financlal Statements
Year ended 31 August 2024
Page
Trustees, annual report (incorporating Ihe directorfs report)
Independent auditovs report to the members
Slatement of financial activities (including income and
expenditure account)
Statement of financial position
statement of cash flows
13
19
20
21
Notes to Ihe financial statements
22

St Cedd's School Educational Trust Limited
Company Limlted by Guarantee
Trustees. Annual Report (Incorporating the Dlrectorfs Report)
Year ended 31 August 2024
The trustees, who ar8 also the directors for the purposes of company law, present th8ir report and the
financlal ststem8nts of the charity for the year ended 31 August 2024.
Reference and administratlve detslls
Reglst•red chartty name
St Cedd's School Educalional Trust Limited
Charfty registratlon numbèr
310865
Company registration number 00795895
Prlnclpal offlc8 and registered 1788 New London Road
offlcè
Chelmsford
Essex
CM2 OAR
The trustees
Mr G C Allen (Chair)
Mr M K Bryant
Mrs A H Childs
Mr P Copgland
Mrs J L Dagg
Mr F M Hargreaves
Mrs R Kangesu
Mrs F M Marshall
Dr S Peck
Mr S Hayman
MrAAPMisty
Rev R A Harvey
Mr D Attridge
Mrs T O Platts
(Resigned 4 December 2024)
{Appointed 20 March 2024)
(Resigned 26 Jun8 2024}
(Appointed 26 Septèmber 2024)
Senlor managemont personnel
Mr M Clarke- Héad
Mrs E Hodivala- Deputy Head
Mrs S Angel- Bursar
Mr S Turner- Head of Pastoral Care
Mrs R Weaver- Head of Academ1¢
Audltor
Edmund Carr LLP
Charter8d Accountants & Statutory Auéitor
146 New London Road
Chelmsford
Essex
CM2 OAW
Bankers
Barclays Bank plc
40-41 High Street
Chelmsford
Essex
CM1 1BE

St Cedd's School Educational Trust Limited
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (¢ondnu•d)
Year ended 31 August 2024
Solicltors
Birkett Long LLP
Faviell House
1 Coval Wells
Chelmsford
Essex
CM11WZ
Structure, governance and managemont
Governing do¢ument
St Cedd's School is governed by its Articles of Association. These Articles were revised and updated
in March 2022. The liability ¢f the members is limited by guarantee. The trustees of the Charity are
also directors of the company.
Governing body
The Governors are responsible for the overall management and control of the School. The Govemors
in post during the year are shown at the beginning of this report.
Arrangements for setting pay and remuneration ot kèy management personnel
Th8 Remuneration Committee oversees th6 remuneration of the Senior Leadership Team and staff.
The Governors consider the Senior Leadership Team lo be the key management personnel of the
School in charge of directing and controlling, running and operating the School on a day to day basis.
The pay of the H8ad and Bursar is reviewed annually by the Remuneration Committee and the
Gov8rnors benchmark against pay levels in other independent schools of a similar size having regard
to an individual's previousFy agreed objectives and performance.
All Governors give of their tlme freely and no Govemor rerRived remun8ralion in the year. No person
connected with a Governor received any benefits from the S¢h¢Jol.
Details of Governors, expenses and related party transaction$ are disclosed in note 16 to the
accounts.
Inductlon and trainlng ol trustees
It is the policy of the Board to recruit néw Governors with the necessary breadth and depth of
experience, time and interest to ¢ary out its duties effectively and efficiently to support the School's
aims and ambitions, Current and former parents are involved as Governors of the School and trustees
of the Charity. When recruiting. where possible. the Governors consider a balance of skills and
expertise as informed by the Govemors. skills audit.
New Governors receive an induction from the Chair of Governors and the Head into the workings of
the School which is accompanied by supporting documentation. Further information is provided
through relevant publications. The new Governorfs expertise is developed through participation in
Governors, training programmes, as appropriate. provided by various bodies, including ISBA. IAPS
and AGBIS.

St Cedd's School Educational Trust Limited
Company Limlted by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) fcofttlnu￿J
Year ended 31 August 2024
Structure. governance and management (wntlnued)
Organlsational structure
The Govemors are dlvided into four sub-committees, Education Committee, Remuneration
Committee, Govemance Committee and Finance and General Purposes Committee with the latter
having particular responsibility for finance. The Board of Govemors and th8 Education and Flnance
and General Purposes Committees meet at least once a temi,. the Remuneration and Governan
Committees meet once a year. The Board of Govemors receive reports from the committ88s to
determine the general pollcy of the School. The Head and Bursar attend all Governors, meetlngs and
the Governors invite m8mbers of Ihe Senior Leadership Team and other staff to their meetings from
time to time in order to gain an understanding of specific areas of thè workings of the School.
The Governors are responsible for the overall strategy and general policy of the School. The
day-l04ay running of the School and recruitment of stsff arè delegated to the Head, supported by the
Senior Leadership Team. The Head undertakes the key leadership role overseeing educats"onal.
pastoral and admirbistrative functions. Policies and procedures are approved by the Governors. Major
expenditure decisions and capf(al projects are referred to the Govemors for prior approval. The
Finance and General Purposes Committee is responsible for preparing the annual income and
expenditure budget and recommending the level of school fees. as well as the approval of the annual
financial statements. The Remuneration Committee is responsible for the approval of staff pay levels
for the following academic year and for settling Senior Leadership Team salaries.
other relationships
The School actively supports the fvrtherance of educational standards and the quality of pasloral care
through participation in and subscrlption to urrtbrella organlsations such as IAPS, ISBA and AGBIS.

St Cedd's School Educational Trust Limited
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Dlrector's Report) {wnttnu¢d)
Year ended 31 August 2024
Alms and Intonded Impact
The primary aim of the Charity is to advance thè education of young people through the provision,
support. conduct and maintenance of a day school and such other ancillary educational activities for
the benefit of the community. The School intends to provide a wide-ranging educational experience for
all children, stretching all to the best of their respective abilities in academic. artistic, sporting, Gultural
and extra-curricular activities. In pursuit of this aim the School provides a very wide range of sporting
and musical pursuits and excellence is achieved by pupils in many fields, particularly the academic.
The School is proud of ils inclusivity and pastoral care for all. The school motto 'Hold Fast That Which
Is Good, underpins the School's ethos and pervades school life.
The School aims to..
Provide a secure and supportive learning environment in which our chikgren's individual abilities.
talents and strengths are fully appreciated arbd nurtured.
Maintaln the traditlon of academic excellence through a dlverse curriculum that is rich, broad,
coherent and relevant.
Promote spiritual and moral awareness. based on Christian principles, and encourage a grounded
outsvard-1¢￿kIng consciousness of othèrs.
Foster personal development and the qualities of integrity, kindness, resilience, ¢itiz8nship and 8
sense of social responsibility.
Oblectives
¢harltable Objects
The Objects are set out in accordance with the School's Memorandum of Association as the education
and day schooling of boys and girls aged 3-11. St Cedd's School seeks to benefit the public through
the putsuit of its stated aims and objediv8s. In setting the School's objectives and planning ts
activities the Govemors have given careful consideration to the Charity Commission's general
guidan￿ on public benefit.. in particular, to ils supplementary public benefit guidance on advancing
education and on fee-charging. This year. the focus has been on the continued achievement of
academic performance, personal development and value-added indicators while maintsining the fees
at a relativety low threshold compared with similar IAPS schools. In setting fees, Govemors evaluate
the impact of change and, where possible, fee increases are restricted to..
Ensure the on-going financial viability of the School is consistent with our aim of providin9 the highest
levels of education for boys and girls.
- Widen access to the education we offer at St Cedd's School.
Objectives, Strategies and actlvltles
The School wntinues formal self-reviews of all are8s of operation so as to improve methods and
procedures, particularly of teaching and pastoral care. but additionally in the process of monitoring and
assessing its own procedures. The proGess of self*valuation and review to measure performanr
against strategic targets is undertaken with reference to the following objectives..

St Cedd's School Educational Trust Limited
Company Limited by Guaranloe
Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) (contIn￿dI
Year ended 31 August 2024
- To contlnue to improve the academ1¢ success of the School.
To prepare pupils for entry to their choice of senior school education at the best level they can
achieve.
- To continue to devalop the quallty of teaching and leaming.
To malntsin the breadth of extra-curricular provislon for pupils.
- To continue to provide 8XC8llent pastoral Care for pupils.
To build on th8 success of the registration process to make admission accessible to the wider
Communlty.
- To ensure all thildr8n have access to necessary strategies to become resilient, life-long leamers.
- To play an active part in th8 life of our local community.
- To develop further potential links wlth10¢81 state s¢hools.
To ensure robust financial and infrastructure planning to allow for the development of facilities In the
ontext of a stable financial position.
- To embrace new technologies for children's immediate and future educational benefit.
- To promote communlty links and fundraising wlth development of the Old St Cedd's Associalion.
To ensure that parents ar8 fully involved In Ihe School's academic, co-curri¢ular. pastoral and
welfare initiatives.
Facllltate academic and non-academie administrative efficiency.
- To create a secure and safe environm8nt for leaming.
Strategies to achigve the year's objectlvos
- The Whola School Development Plan
- Annual Professional Development Revlews of staff with SMART targets and success criteria.
Evaluation and development of the curriculum.
Furthering the links and opportunitles to be involved In local communlty projects and In sharing
Intellectual propety.
- Continued focus on pupil b8haviour. politen8ss, manners and courtesy.
Continuéd development of the quallty of teaching and learning.
Seek professional advice where 8ppropriate to ensure regulatory compliance

St Cedd's School Educational Trust Limited
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (contlnued)
Year ended 31 August 2024
Review the pay structure for all staff, both teaching and operational, to ensure we remain competitive
and attractiv8 in recruitment and retention.
Pupil numbers
Pupil roll is to optimal capacity in most year groups with waiting lists for places in some year5. Interest
in the school continues to be strong.
St Cedd's school music schemes
The String Scheme provides ￿e1ve Year 2 children with a group violin or cello lessons free of charge
for one year. From September 2024 the String Scheme was widened to provide opportunities for
children to learn school shortage instruments in the brass and woodwind families on a trial basis.
Choristers benefit from training at Chelmsford Cathedral with the full support of St Cedd's School in
terms of the time and financial commitment required for transporting choristsrs lo the Cathedral, and
the timetsble adjustments to facilitate this relationship with our local dioGes8.
Community liaison
The School works a¢lively wtthin the local communlty, and visitors from local churches, businesses,
sheltered hom8s and other educational establishm8nts are welcomed into the School. The St Cedd's
School choirs sing Evensong at the Cathedral each term, supporting the local Community with
collective worship, and the Upper School choir visit resldential care homes. The School maintains links
wlth a number of schools through regular contacts and as opportunity and need aris8. Speaking and
listening initiatives are open to maintalned schools, and non St Ceddian pupils may laké their music
examinations on the school sf(e. Mor8 Able and Talented pupil days in English and Maths are hostsd
on site for children from local prlmary schools as well as our own pupils. Thé School also continues to
permit the use of its faclli118s (e.g. The Waltham Singers. The Rotary Club, Chelmsford Musi
Festival), at a discounted ratè or, where appropriate. for oth8r charities gratis. We support the
development of local parks with our hire of Essèx County Council facilities generating income for the
Council from the breadth and frequency of sports ffixtures and events held at local venues.
The School seeks the advice of parents and carers through Parent RepresentatlV8s' meetings and
communicates through regular newsletters. The results from parent and pupil surveys are actioned in
th8 interests of the pupils, school cnmmunty, visitors. local residents and wider public.
Training for parents and staff of other maintained and indapendènt schools
St Cedd's School hosts e-safety training for the School and wider communities. The annual Senior
Schools Fayre attracts a wide range of academies, maintain9d and independent schools to share
infomiation regarding their educational provision with prospective secondary school pupils.
Admlssions: Equal opportunitles
St Cedd's School welcomes pupils from all backgrounds and pupils benefit from learning within a
diverse community through social interaction, conversation and shared experiences which helps pupils
develop an understanding of the perspectives of other people that will be vital lo their adult lives.
Pupils are admitted by registration date following an induction to satisfy parents and the School Ihat
the child will be able to benefrt from the education offered in line with the School's Admissions Policy.
An individual's economi¢ status. gender, gendgr reassignment. elhnicity, race, religion or disability do
not form part of the admisslons process. We are an equal opportunities provider and are committéd to

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the Director's Report) (continued)
Year ended 31 August 2024
a working envlronmont that is fr88 from any form of discrlmination. The School makes reasonable
adjuslments to meet the needs of pupils who are, or who become. disabled. The SENDA plan is
regularly reviewed to provide access to the School's facilities.
Support in the fom of a Bursaries and Hardshlp Fund is available for those wlshing to attend the
School but who otherwise are unable to pay the fees, or for those curr8nl pupils where a change in
family circumstances would compromise their abllily to remain at the School.
Those wishing to be considered for bursary support are requlred to complete a Bursary applicatlon
giving full details of their financial siluation, supported by original documents. Bursary appllcations
are assessed by an independent thlrd party who recommend a remlssion on fees according to the
guardians, abi1Sty to pay full fees. A decision is then made by the Govemors based upon this
independent report and the availability of bursary funds to the School. Bursary awards are subject to
the annual testlng of the guardians. means.
Refurblshment
The Govemors contlnue to invest substantial sums into the School's buildings and have a continulng
programme of refurbishment. development and investment to malntain excellent teachlng facllities for
our pupils. Recent works include the r8furblshment and improved Insulation of the Dance Studio and
School Shop, new flooring in Lower School, the upgrade of an old outbuilding to provide much needed
storage space. improved outside lighting across th8 Slte and enhanoed CCTV coverage on our
playground area. In addition, actions have been taken based upon a range of parents, and puplls,
recomméndations from the Parent Representatlv8s, School Council and Food Forum meetings.
Strateglc report
The following sections for aGhievem8nts and performance and financial review form the strategic
r8POrt of the charity.

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Dlre¢torfs Report) (￿ntInued)
Year ended 31 August 2024
Achlevements and perfomian¢e
Achlovements and operatlonal porformanc• of the ￿h0o1
st Cedd's School continues to flourish both inside and outslde the classroom. Our wrap around care
provlsion. including breakfasl ¢lub, TLC after school dub and a broad range of activities both during
tho sGhool day and after school, have ensured a continued focus on lh8 educatlon and development of
the whole child. During the last year there has been a focus on the quallty of curriculum experience for
the children at St Cedd's School and Heads of Department carried out reviews of each y8ar group's
currfculum to ensure that teachlng was effedive, time efficient and apprOP￿al8 for 21st Century
Leamers. St Cedd's School has b88n accredlted as a 52 Lives School of Kindness,
Following a su¢oessfvl trial with Year 6 children in the Summer Term 2024. St Cedd's School ha
launched the EnrichEd currlculum for all children In Years 1 6. Children are given half termly
opportunities to lake part in aGtivities beyond a normal Primary School ¢urrioulum which broadly frt into
five different areas . We 8re Leaders" We are Artists", We are Innovators" We a￿ Citizens of the
World" and 'We are Welln8ss Champions" This innovalive approach lo teaching - 'Nurturing young
minds, one discovery al a tlm8'
ensures that children at the School are able to experience and
develop skills beyond the classroom, in a range of different fields. and keeps St C8dd's School at the
forefront of holistic primary education in thè local area.
We wer8 awarded the Soil Association's Food for Life Silver Schools Award in July 2023 and all pupils
take part in cooklng adivitie$ at least once a term. In addition we have achieved the Eco Schools
Green Flag Award In rècognition of our sustainabilty initiatlv8s Including thriving Gardening and Eco
Clubs.
Pupils continue to excel on the sports field with success in regional swimmlng, football and hockey
competittons.
The School remain8d nèar its optimal capacity throughout the year.
The a¢ademic results of our Year 6 cohort were, once again. incredibly impresslvs wllh 14 chIld￿n
offered places at local grammar schools via the 11+ entrance examinations and 27 children being
offered pla￿S at local independent Senior Schools with 10 of these having scho18rships associated
with them.
As ever. we aro incredibty proud of the breadth of a¢tivitie8 and opportunities on offer to Ihe children in
the School. All children havè the opportunily to take part in ABRSM and Trinity College music
examinations with a large number of these achieving at least Gradè 5 stsndard or higher, some
excelling to Grade 8 on th8 recorder and several achieving Grade 5 Music Theory. Participation in our
hoirs and music ensembles has been excellent and pupils regularfy win trophies at the Chelmsford
Muslc Festival.
Charltable a¢tivities
We have had a good year for charitable activities. with donations to Macmillan. the Scouts
Association, Farl8igh Hospice, the Royal British Legion. Helèn Rollason Cancer Charity. BANA,
Cancer Research, the Childrèn's Society and Chelmsford Cathedral.

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Dlrector's Report) (uontinuedj
Year ended 31 August 2024
Financial review
As a charity the parents of our pupils have the assurance that all the income of the School is used for
educational purpose5, and the financial benefits we receive from tax exemptions are all applied for
educational purposes. As in previous years. Ihe School is wholly reliant on its income from school fees
to deliver on its educational aims and objectives.
Reserves poll¢y
The reserves of the School are represented by the unrestricted funds shown In Note 23. The total
funds held by the School at 31 August 2024 amounted lo £6,201,844 all of which represents
unrestricted funds. Of this total £1.238,706 {2023: £866,610) represents readily available funds which
are total funds excluding the carrying amount of fixed assets as at the balance sheet date.
In common wlth most independent schools. the Sch¢)ol's unrestricted reserves are primarlty Invested
In tangible fixed assets. which are all us8d for direct charllable activities. The School's financial
vlability does not depend on Income reserves bLrt on Its ability to Gontinue to trade at a surplus on an
annual basis and on the flx8d assets held for operational use. The aim is to budget so as to provide
SLrffid6nt working capital to meet the present needs and future dèvelopment requirements of the
School.
The Govemors re¢ognise that the level of reserves fluctuates during periods of investment in the
School 6state and are satisfied that extemal finan￿ facilities are sufflclènl lo provide working capital
and an adequate safety net for the School.
Investment policy and objectlves
These are governed by the ArtiGles of Association. which permits the funds to be invested at the
discretion of the Board. Currently any surplus funds are invested on deposit with the School's bankers
and other banks to maximise the retum on these funds at minimal risk.
Property revaluation
In 2017 the School appointed an 8Xtern81 valuer to appraise the School property and School house to
conclude on a fair value for the combined property. The fair value was calculated to be £5,000.000 for
the School site In addition to a sum of £295,000 for the School hous8 property adjaGenl to the School
site.
The School prop8ty is subject lo a Deed of Upllft made between Servite Sisters Trust8es {English
Province) and the School. If the property is ever sold for non-school use prior to April 2028 then the
School must pay 50 % of thè uplift in value from the orlglnal transfer pric8 agreed in April 2008. The
value agreed for the transfer in April 2008 was £1,849,944.

st Cedd's School Educational Trust Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) fcontlnu
Year ended 31 August 2024
Plans for future periods
Aims and key objectives for future periods
The Governors intend to continue their current strategies of maintaining the School's position In a
competitive market by investing in high qualty educational provision for the pupils. An equilable
balance is maintained ensuring our current pupils benefit whilst, at the same time, ensuring a s¢)und
infrastructure and financial base are preserved for the next generation of pupils. in the same way as
our current pupils benefit today frotn th8 investment made in the past. The principal plans inclL5de=
Maintaining the school roll at optimal capactty.
Balancing academic achievement through maintaining a curriculum allowing full scope for the
development of sporting, creative. linguistic and social, as well as academic skills.
Widening the use of IT across the SGh¢Jol and all curriculum areas.
The contlnual review of regulatory school policies in accordance with legal requirements.
- New development projects to Improve the teaching facilrtles offered by the School.
Prudent management will continu8 With the alm of further enhancement of th8 educatlonal 8xp8ri8ncé
and meeting the ever-changing educational demands of our society. Progress has been madé in:
Developing further Ilnks and partnerships wlth other schools and the local community in areas such
as music. sport and the provision for the most ablé.,
Encouraging puplls, staff, members of Ihe local community and other org8nisations such as clubs
and local maintained schools to benefit from the use of the School's facilitl8s', and
Using local food suppliers to support the local 8conorny and to improve the quality of the fresh food
served at the School.
The School aims to maximise opportunities for sharing best practice with the maintained sector by
seeking opportunitie5 for local primary schools to work in partnership with St Cedd's School on joint
projects, workshops and events at the School.
Principal risks and uncertaintles
The Governors rnanage the risks to Ihe School and have implemented controls such as formal
agendas for Governor meetings. detailed terms of reference for all committees, a clear development
plan. detailed budget planning, monitoring and review, clear financial delegation, regular review of
written policies and clear safeguarding procedures. The Board of Governors continue to keep the
School's activities under review and monitor the effectiveness of the systems of internal controls by
which risks are identified. Action is taken to mitigate those risks. The formal risk management process
is reviewed on an annual basis to ensure that all known strategic risks are identified, although it is
recognised that systems cannot provide absolute assurance that all possible risks have been listed.
There were no serious incidents or other matters relating to the School over the previous financial year
that th8 School needed to bring to Ihe attention of the Charity Commission, and there are currently no
serious threats or risks to the charity's beneficiaries, services, assets or r8putation.
The School's suc¢ess is built on its reputation for the educafjon and well-being of the pupils. The
10

St Cedd's School Educational Trust Limited
Company Llmited by Guarantee
Trustees, Annual Report (Incorporatlng the Director's Report) f¢ontlnued)
Year ended 31 August 2024
School's viability Is reliant on the pupll roll which reflects Its strong reputallon. Govemors are
conscious that past performance in maintslning pupil numbers cannot be depend8d upon and failure
to attract pupils is accordingly identlfied as a key risk. Particular attention is paid to marketing and
pupil recruitment in mltlgation. as well as mlnlmising the risk to the S¢hool's reputation due to adverse
publicty.
Trustees, respon5ibilitles statement
The trustees, who are also direciors for th8 purposes of company law, are r8sponslble for preparing
the Irustees. report and the financial statèments in accordance with appllcable law and United
Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requir8S th8 charity trustees to prepare financial statements for each year which give a
true and fair vlew of the state of affairs of the charltable company and the Incoming resources and
application of resources, including the income and expenditure. for that period.
In preparing these financial statements, the trustees are requlred to:
select suitab16 a¢counting policles and then apply them consistently.
observe the methods and principles in th8 applicable Chariiles SORP,.
make judgments and accounting estimates that are reasonable and prudent.,
prepare the financial ststernents on the going ¢oncem basis unless it is inappropriate to presume
that the charlty will continue In business.
The trustees are responsible for keeping ad8qUate accounting records that are sufficient to show and
explain the charity's transactions and disclose with rèasonable accuracy at any time the financial
position of thè charity and enable them to ensure that the financlal statements compFy with the
Companies Act 2006. They ar8 also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the Prevention and d61ection of fraud and other Irregularities.
Audllor
Each of the persons who 15 a truste8 at the date of approval of this report confirms that..
so far as th8y are aware. ther8 is no relevant audit infomiation of which the charity's auditor is
unaware,. antj
they have taken all steps thal they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charity's auditor Is aware of that
information.
The auditor is deemed to have been re-appointed in accordance wlth section 487 of the Companies
Act 2006.
11

St Cedd's School Educational Trust Limited
Company Llmitad by Guarantee
Trustees. Annual Report (Incorporatlng the Directorfs Report) fcontlnu•d)
Year ended 31 August 2024
The trustees, annual report and the strategic report were approved on
on behalf of the board of trustees by..
25
and signed
G C Allen
Chair
12

St Cedd's School Educational Trust Limited
Company Llmlted by Guarantee
Independent Auditor's Report to the Members of St Cedd's School Educational
Trust Limited
Year ended 31 August 2024
Oplnlon
We have audlted th8 financial stat8m8nts of St Cedd's School Educational Trust Llmlted (the 'chariV)
for the year ended 31 August 2024 which cornprise the statement of financial activities (including
Income and expèndlture aGcounl). statement of financlal position, statement of cash flows and the
related notes. including a summary of significant accounting policies. The financial reporting
framework that has been applied In their preparation is applicable law and United Kingdom Accounting
standards, including FRS 1Q2 The Financial Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Practlce).
In our opinion the financial stat8m8nts-
glve a true and fair view of the stste of the charity's affalrs as at 31 August 2024 and of its
incoming resourc8s and application of resources. including its income and expenditure, for the
year then ended:
have been prop8rly prepared in accordance wlth United Kingdom Generally Acc8Pted
Accounting Practica;
have been pr8pared in accordance with the requirèments of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance WFth Intemational Standards on Auditing IUKI IISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the audilorfs
responsibilities for the audit of the financial statements section of our report. We are independent of
the Gharity in accordance with the ethical requirements that ar& 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 a¢¢ordan¢e with these requirements. We believe that the audit evidence we have
obtained is suffi¢ient and appropriate to provldè a basis for our opinion.
Concluslons relating lo going concern
In auditing the financial statements, we have concluded that the trustees, use of the 90ing concern
basis of accounting in the preparation of the financial statements Is appropriate.
Based on the work we have perfomied, wè have not identified any mat8rial unc&rtalnties relatlng to
events or conditions that, individually or collectively, may ¢ast Slgnificant doubt on the charity's ability
to continue as a going concern for a period of at least twelve months from when the financlal
statements are authoris8d for issue.
Our responsibilities and the responsibilities of the trustees wlth respect to going concern are described
in the relevant sections of this report.
13

St Cedd's School Educational Trust Limited
Company Llmlted by Guarantee
Independent Auditor's Report to the Members of St Cedd's School Educatlonal
Trust Limited (¢ontinuedJ
Year ended 31 August 2024
Other information
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information.
Our opinion on the financial stalernenls does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audlt of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledgè obtained in the audlt or otherwise appears to be malerialty
misstated. If we identify such malerial inconsistencies or apparent material misstatements, we are
required to determine whether there Is a material misstatement in the financial statements or a
material misstatement of the other informatlon. If, based on the work we have performed, we Conclude
that there Is a material misstatement of this other infomiation, we are requlred to report that fact.
We have nothing to r8POrt In this regard.
Oplnlons on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report for the financial year for which the financial
statements are prepared is consistent wlth the finan¢ial ststements,. and
the trustees. report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment oblained in the
course of the audit, we have not identified material misstatements in the Irustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you if. in our opinion-
adequate accounting records have not been kept, or retums adequate for our audit have not
been received from branches not visited by us- or
the financial statem8nts are not in agreement wlth the accounting records and returns. or
certain disdosures of trustees, remuneration speclfied by law are not made., or
we have not recelv8d all the information and explanatlons we require for our audit.
14

St Cedd's School Educational Trust Limited
Company Llmited by Guarantee
Independent Auditor's Report to Ihe Members of St Cedd's School Educational
Trust Limited (￿￿¢1￿￿edj
Year ended 31 August 2024
Responsibilities of trusteès
As explalned more fully in thè twstees, r8sponslbilities statement, the tru5tee5 (who are also the
directors for the purposes of company law) are responsible for thè preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as
the trustees determine is necessary to enable the preparation of financial ststements thal are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are r8sponsible for assessing the charitys ability to
continue as a going Concern, disclosing. as applicabla, matters related to going GonGern and using the
going concern basis of accounting unless the trustees either intend to liquldate the charty or to C8ase
operations. or have no realistic alternative but to do so.
15

St Cedd's School Educational Trust Limited
Company Limlted by Guarantee
Independent Auditorfs Report to the Members of St Cedd's School Educatlonal
Trust Llmited (conLlnu•d)
Year ended 31 August 2024
Audllofs responsibilities for thè audlt of the financial statements
Our objectives are to Obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement. whether due to fraud or error. and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurancè, but is not a guarantee that
an audit conducted in accordance with ISAS (UK) will a￿ayS detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate. they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularitie5, including fraud. are instsnces of non-compliance wf(h laws and regulations. We design
procedures in line with our responsibilities. OLrtlined above, to detect material misststemenls in respect
of irregularltles. including fraud. The extent to which our procedures ar8 capable of detecting
irregularlties, including fraud is d8tailed below:
Our approach to identifying and assessing the risks of materlal mlsstatement in respect of
irregularities, including fraud and non-compliance with laws and regulations, was as follows:
The engagement partner ensured that the engagement team collectlvely had th8 appropriate
competence, capabilities and skills to Identrfy or recognls8 non-compliance with applicabl8 laws and
regulations.
We focused on specific laws and regulations which we ¢onsidered may have a direct materlal
effect on the financial 5tstements or the operalions for the company, including the Compani8s Act
2006. tsx legislation and data protection, anti-brlbery, employment, environrnental and health and
safety legislation.
We assessed the extent of compliance with thè laws and regulations identified above through
making 8nquiries of managem8nt.
Identified laws and regulations were communicated with the audit team regularly and the team
remained alert of instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misststement.
including obtaining an understanding of how fraud might occur by-
Making enquiries of management as to where they considered there was susceptibility to fraud,
their knowledge of actual. suspected and alleged fraud.
Considering the internal controls in place to mitigate the risks of fraud and nonrfompliance with
laws and regulations
To address the risk of fraud through management bias and override of controls, we.
Perfomed analytical procedures to identfy any unusual or unexpected relationships
Tested journal entrles to identify unusual transactions
Assessed whether judgements and assumptions made in determining the 8ccounting estimates
16

St Cedd's School Educational Trust Limited
Company Limlted by Guarantee
Independent Auditor's Report to the Members of St Cedd's School Edu¢atlonal
Trust Llmited {contlnu•d)
Year ended 31 August 2024
were indicative of potential bias.
Investigated th8 rationa￿ behind slgnificant or unusual transactlon5
In respt)nse to th8 risk of irr8gularitles and non-compliancè with laws and r8gulatlons, we designed
procedures which included, but were not limited to:
Agreeing financial statement dlsclosures to undertying supporting documentation
Enquiring of manag8menl 8$ to actual and potential litigation and claims
Because of the Inh9renl limitations of an audit. therè is a risk that we will not delect all irregulariti8S,
induding those leading to a material misstatement in the financial stalem8nts or non-compliance wSth
regulation. Thls risk increases the more that compliance with a law or regulatlon Is removed from the
events and Iransactlons reflected in the financial statements, as we will be less likely to become aware
of instances of non-compllance. The rlsk Is also greater regarding Irr￿ularitIeS occurring due to fraud
rather than error, as fraud involves intentional concealm8nt, forgery, collusion, omission or
misrepresentation.
As part of an audit in accordance wilh ISAS (UK), we eXe￿iSe professional judgment and maintain
professional scepticism throughout the audit. W6 also:
Identify and assess the rlsks of material misststement of the financial statements, whether due to
fraud or error, design and perform audlt procedures responsiv8 to those risks, and obtain audlt
evidence that is sufflci8nl and appropriate to provide a basis for our opinion. The risk of nol
deteding a material mlsststement r8sulting from fraud is higher than for one resulting from èrror.
as fraud may involve collusion, forgery, intentional omissions. misrepresentations, or the overrlde
of intemal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures Ihat are appropriate In the Gircumstances, but not for the purpose of expressing an
opinion on the effectlveness of the internal control.
Evaluate the appropri8teness of accounting Folicies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting
and, based on the audit 8vidence obtsined, wh8ther a material uncertalnty axists related to
events or conditions that may casl signrficant doubt on th& charity's ability to continue as a going
concem. If we conclude that a material uncertainty exists, we are reqUI￿d to draw attention in
our auditor's report to th8 related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However. futur8 events or conditions may cause the charity
lo cease to continue as a going concern.
Evaluate the ov8rall presentstion. structure and content of the finan¢ial statements, including the
disclosures, and whelher th8 finanoial ststements represent the underlying transactions and
events in a mannar that achieves fair presentation.
17

St Cedd's School Educational Trust Limited
Company Llmlted by Guarantee
Independent Auditor's Report to the Members of St Cedd's School Educational
Trust Limited (convnuedj
Year ended 31 August 2024
We communicate with those charged with governance regarding, among other matters. the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
intemal control that we identify during our audit.
Use of our report
This report is mad8 solely to the charitys members, as a body. In accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audlt work has been undertaken $0 that we might state to the
charltys members those matters we are required to stste to them in an 8uditor's report and for no
other purpose. To the fullest extent pem)itted by law, we do not aG¢ept or assume responsibility to
anyone other than the charity and the charity's members as a body, for our audit work, for thls report.
or for thè opinions we have formed.
S A Moffell (Senior Statutory Auditor)
For and on behalf of
Edmund Carr LLP
Chartered Accountants & Statutory Auditor
146 New London Road
Chelmsford
Essex
CM2 OAW
0410 £h120 1
18

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Statement of Flnancial Activities
(includlng income and expendlture account)
Year ended 31 August 2024
2024
2023
Total funds Totsl funds
Income and ondowments
Charitable activities
Other trading activitl8S
Investment income
4,648,361
68,152
63,940
4.281,523
76.714
9,938
Totsl income
4,778,453
4,368.175
Expenditure
Expenditur8 on raising funds..
Costs offinanclng
Costs of other trading activlti8s
Expendlture on charitable activities
Total expendlture
1,949
44,972
10,11 4.469,941
3.492
55.652
4,221.464
4.516,862
4.280,608
Nel Income and net movoment In funds
261,591
87,667
Reconciliation of funds
Total funds brought forward
Total funds carried for￿ard
5,940,253
5.852,686
6,201,844
5,940,253
The statement of financial adivities includes all gains and losses recognlsed in thè year.
Atl income and exp8nditure derive from continuing activities.
All income and expenditure for both years was unrestricted.
Th8 notss on pago$ 22 to 32 fomi part ollhese flnanclal stat¢m•nts.
19

St Cedd's School Educational Trust Limited
Company Llmited by Guarantee
Statement of Financial Posltlon
31 August 2024
2024
2023
Fixèd assots
Tangible fixed assets
17
4.963.138
5.073.643
Curront assets
Stocks
Debtors
Cash al bank and in hand
18
19
63.410
147,849
3.078,063
68,317
116.755
1,290.976
3.289,322
1,476.048
Credltors: amounts falling due
wlthln one year
Net current assets
20 1.980,366
536,438
1,308,956
939,610
Total assets less Current liabilities
6.272,094
6.013,253
Credltors: amounts falling due after
more than one year
Net assets
21
70,250
73,000
6.201,844
5,940.253
Funds of the charity
Unrestricted funds
6.201,844
5.940.253
Total chaiity funds
23
6,201,844
5.940.253
These financial statements havè been prepared in accordance with the provisions applicable to
companies subject to the m8dium companl8s reglme.
Th8s8
ncial statements were approved by the board of trust88s and authoris8d for issue on
are signed on b8halfofthe board by-
G C Allen
Trustee
stee
Thè nol•s on pages 22 to 32 forni part of these financial statèmènts.
20

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2024
2024
2023
Cash flows from operating a¢tlvltles
Net income
261,591
87.567
Adjustments for
Depreciation of tangible fixed assets
Other interest re¢eivable and similar income
Accrued expenses
115,995
163.940)
22,968
127,455
(9,938)
259
Changes in..
stocks
Trade and other debtors
Trade and other creditors
4,907
{31,0941
1,418,210
3,925
(3,670)
147.545
Cash generated from operations
1,728.637
353.143
Interest received
63,940
9.938
Net cash from operating activities
1.7g2,577
363.081
Cash flows from investing actlvltles
Purchase of tangible assets
Net cash used in investing activities
(5,490)
15.490)
(83,338)
(83.338>
Net Increase in cash and cash oquivalents
Cash and cash èquivalents at beglnnlng of year
Cash and cash èquivalents at end of year
1,787,087
1,290,976
279,743
1.011,233
3,078,063
1.290,976
The notes on pag•s 22 to 32 forn) part of these financlal statements.
21

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
Genéral information
The charity is a public benefit entity and a private company limited by guarantee. registered in
England and Wales and a registered charity in England and Wales. The address of the
registered officè is 178a New London Road. Chelmsford, Essex, CM2 OAR.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102. 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities prep8ring their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charities
SORP {FRS 102>) and the Companies Act 2006.
Accountlng polici8s
Basls of preparatlon
Tha finan¢ial statements have been prepared on ihe historical cost basis, as modified by the
revaluallon of certain financial assets and liabilities and investment properties measured at fair
value through Income or expenditure.
Th8 financial slat8m8nts are prepared in sterling, which is the functional currency of the entity-
St Cedd's School Educational Trust Limited me8ts the dafinltlon of a public ben8fit entity under
FRS102.
Taxatlon
The company, as a charitable company, is not liable for assessmenl to taxation on its results to
the extent that these are applied to its charitable objects.
Going concem
Th8rg are no material Un￿rtaIntieS about the charitys ability to continue.
Freehold proporty
Freehold property is initially recorded at cost. which includes purchase price and any directly
attributable expenditure. Freehold propety is revalued to its fair value at each reporting date and
any changes in fair value are recognised in profil or loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of
freehold propety, it shall be transferred lo tangible assets and treated as such until it is expected
that fair value will be reliably m8asurable on an on-going basis,
Pension plan$
The School makes contributions to both defined benefit and defined ¢onlribution schemes.
Further detsils can be found in note 22.
22

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Notes to the Flnanclal Statements (conllnued)
Year ended 31 August 2024
Judgements and key sources of estimation uncertainty
The preparation of the financial sL*ements requires management to make judgements.
estimates and assurnptions that affect Ihe amounts reported. These estimates and judgements
are continually reviewed and are based on experience and Other factors, including expectations
of future events that are believed to be reasonable under the circumstsnces.
Fund accounting
Unrestricted funds comprise of the accumulated surplus on general funds that are available for
use at Ihe discretion of the trustees in furthèrance of the objectives of the Charity.
Restricted funds are funds subject to special conditions imposed by the donor. The funds ar8
not therefore available for tho work performed by the Charity Other than Ihat specified by the
donor.
Incomlng resourees
All incoming resources ar8 included in the statement of financial activities when entitlement has
passed to the charity., it is probable that the è¢onomi¢ benefits associated with Ihe transaction
will flow to the charity and the amount can ￿ rèliably measured. The following specific policies
are applled to particular categories of incom8'.
income from donatlons or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured rèliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably. in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received rf tt)e value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from conlracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and retumed if unspent. in which case
it may be regarded as restricted.
Rèsources expendod
All expenditure on th6 running of the school is considered by the trustees to be eithèr directly
related to its charitsble activity and is accounted for on an aGGrual basis, or related to general
costs relating to the administering of the charity which arè included undèr governance Costs.
Where costs cannot be direclly apportioned they have b88n allocated to activities on a basls
consistent with the use of resources. The irrecoverable element of VAT is Includ8d with the
related item of 8xpens6.
23

St Cedd's School Educational Trust Limited
Company Llmlted by Guarantee
Notes to the Financial Statements (¢ontinu¢d)
Year ended 31 August 2024
Accounting pollcles (conlinuodj
Tangible assets
Assets ¢osting £5,000 or more are capitslised as tangible fixed assets and are carried at cost,
net of depreciation and any provisions for impairment.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of
revaluation less any subsequent accumulated depreciation and subsequent accumulated
impaimient losses.
An increase in the carrying amount of an ass8t as a result of a revaluation, is recognised in other
recognis6d gains and losses, unless it reverses a charge for impaimient that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, Is recognised in olher recognised gains and losses,
except to which it offsets any previous revaluation gain, in whlch ¢ase Ihe loss is shown within
other recognised gain8 and lossos on the statement of financial actlvltles.
Depreciation
Depreciation Is calculated so as to write off th8 Cost or valuation of an asset. less its residual
value, over the useful economic lrfe of that asset as foll0v￿.
Freehold buildings
Fixturés and other equipment
Demountables
Computer equipment
20/0 Straight line
20 /0 straight line
1 OQ/ts Straight line
33°k straight line
Impalrnient of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exisl. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing. when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
ash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
stocks
Stocks are m8asured at the lower of cost and estimated selling priGe le56 Costs to complete and
sell. Cost includes all costs of purchase. costs of conversion and other costs incurred in bringing
the stock to its present locatlon and condition.
24-

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements {eontsnu•d)
Year ended 31 August 2024
Accountlng policies (￿￿tInued)
Flnanclal Instrumènts
The charitable company only has fin8n¢ial assets and financial liabilities of a kind that qualify as
basic financial instruments. BasiG financial instruments are initially recognised at transaction
value and subsequently measured at their settlement value.
Limited by guarantee
St Cedd's School Educational Trust is a charitable company limlted by guarantee. The
guarantee of each member is limited to £1.
Charitable actlvltles
Total Funds Totsl Funds
2024
2023
School faes
Clubs
Registration fees
Mls¢ellaneous school income
4.411,508 4.072,423
223,807
193,211
6,600
7,300
6,446
8,589
4,648,361 4.281.523
Other tradlng actlvltl8s
Total Fund¥ Total Funds
2024
2023
Shop income
Commission income
64,852
1,300
75,830
66.152
76,714
Investmont Income
Total Funds Total Funds
2024
2023
Bank interest receivable
63.940
9,938
Costs of financing
Total Funds Total Funds
2024
2023
Bank interest and charges
1,949
3,492
25

St Cedd's School Educational Trust Limited
Company Llmlted by Guarantee
Notes to the Flnancial Statements (Contlnu
Year ended 31 August 2024
Costs of other tradlng a¢tivilies
Total Funds Total Funds
2024
2023
Costs of other trading activities - Shop costs
44,972
55,652
10. Expenditure on charitable actlvltles by fund type
Total Funds Total Funds
2024
2023
Provision of education
Support costs
3,485.417 3.285,276
984.524
936.188
4,469.941 4,221,464
11. Expenditure on charitable aetlvlties by a¢tivlty type
Activities
undertaken
directly
Support Total funds
costs
2024
Total fund
2023
Provision of education
Governance costs
3,485.417
957,362
27,162
4.442,779
27,162
4.196.460
25.004
3.485,417
984,524
4.469,941
4,221.464
12. Analysis of support costs
Total 2024 Total 2023
Staff costs
General office
Governance costs
Advertlsing, publicty & recruitment
636,465
319,541
13,065
15.453
600,103
311.920
12,420
11,745
984.524
936,188
13. Net Income
Net income is ststed after chargingl(¢rediting):
2024
2023
Depreciation of tanglbl8 fixed assets
115.995
127,455
26

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (eontlnu•d)
Year ended 31 August 2024
14. Auditors remuneration
2024
2023
Fees payabl8 for th8 audit of the financial statements
11,970
11.400
Fees payable to the charitys auditor and its associates for other services..
Payroll and oth8r servic8S
15,193
13.603
15. Staff costs
Th8 total staff costs and employee beneffts for thè reportlng period are analysed as follows:
2024
2023
Wages and salaries
Social security costs
Pension costs
Other employee benefits
2,448.888
207,495
409,245
20,147
2,324,805
208,886
355,219
13.381
3,085.775
2.902.291
Totsl termination payments amounted to £3,250 {2023 - £Nil) and related to compensalion for
termination of employment of one member of stsff.
The average head ¢ount of employees during tho year was 97 {2023', 97).
The number of employeès whose remuneration for the year (including employerfs national
insurance contributions and other benefts) fell within the following bands, were-
2024
2023
£60.000 to £69,999
£70.000 to £79,999
£80,000 to £89,999
£100,000 to £109,999
£110,000 to £119,999
Key Management Pèrsonngl
Key management personnel include all persons that have authorlty and r8sponsibility for
planning, directing and controlling the actlvlties of the charity. The total compensation pald to key
managemènt personnel for services provided to the charity was £472,915 (2023: £450,754).
16. Trustee remuneratlon and expenses
Trustees, liability insurance premium costs are borne by the company.
During the year no remuneration was paid to any of the Governors. Expenses of £45 {2023: £2)
were reimbursed to one Govémor for travel costs during the year.
27

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Notes to the Flnanclal Statements (¢ontlnu•dJ
Year ended 31 August 2024
17. Tangible flxed assets
Fixtures and
other
Computer
equipment Demountables Equipment
Land and
buildings
Total
Cost
At 1 September 2023
Additions
5,506,232
404,041
5,490
238,803
485,117 6.634.193
5,490
At 31 August 2024
Depreclatlon
At 1 September 2023
Charge for the y88r
At 31 August 2024
Carrylng amount
At 31 August 2024
At 31 August 2023
5,506,232
409,531
238,803
485,117 6.639,683
529.215
91,723
359,993
18,336
186,225
5,936
485,117 1.560,550
115,995
620.938
378,329
192,161
485,117 1.676,545
4,885.294
31,202
46,642
4.963,138
4,977.017
44,048
52,578
5,073,643
The School site at New London Road was revalued In Novembèr 2017 by Bidwells LLP,
Chartered Surveyors, to have a fair value of £5,295.000. There was a desktop valuation carried
out in 2021 which supported th8 carrying value In the accounls and the Trustees consider the
carrying value at each reporting date.
Included in land and buildings is the valuation of land of £1,765,000 {2023: £1,765,000) which is
not depreciat8d.
18. Stocks
2024
2023
Stock
83.410
68,317
19. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
8,314
139,535
2,529
114.226
147,849
116,755
28

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Notes to the Financial Slatements (conllnued)
Year ended 31 August 2024
20. Creditors: amounts falllng due within one year
2024
2023
Trade creditors
Accruals and deferred income
Pupil deposits held
Re¢eipts in advance
Other credltors
8,821
42,441
10,500
1,819,150
99,454
92.295
19,473
11.250
318.097
95,323
1.980,366
536,438
21. Creditors: arnounts falling due after moro than ong year
2024
2023
Pupil deposits held
70.250
73,000
29

St Cedd's School Educational Trust Limited
Company Llmlted by Guarantee
Notes to the Flnancial Statements (wirfnued)
Year ended 31 August 2024
22. Penslons and other post rotlr8m•nt boneffts
The Tea¢hers' Pension Scheme
The Teachers. Pension Scheme {TPS) is a statutory, contributory. defined benefit schem8.
govemed by th8 Tèa¢hers' Pension Scheme Regulations 2014. Membership is automatlc for
teachers. All teachers hav8 th8 optlon to opt-out of the TPS following enrolment.
The TPS is an unfunded scheme to which both the member and employer makes contributions,
as a percentage of salary - these contributions are credited to the Exchequer. Retlrement and
othar penslon benefits are paid by public funds provided by Padiament,
Valuatlon of the Teachers, Pension Scheme
The Govemment Actuary, using nomial actuarial principles, conducts a formal actuarial review of
the TPS in accordance with th8 Public Service Pensions (Valuations and Employer Cost Cap)
Direclions 2014 published by HM Treasury every 4 years. The aim of the review 15 lo specify the
level of future contributions.
Actuarlal scheme valuations are dependent on assumptions about the value of futur8 costs,
design of beneffts and many other factors. The latest actuarial valuatlon of th8 TPS was carri8d
out as at 31 Mar¢h 2020. The valuation report was published by the Department for Education on
27 October 2023, with th8 SCAPE rate, set by HMT, apptying a notional investment relum bas8d
on 1.70/0 above the rate of CPI. The key èlements of the valuation and subsequent consultation
are:
1) employer contribution rales set at 28.68°A of pensionable pay (including a 0.080/0
administration levyl. This is an increase by 50/c in employer contrlbutions and the cost control
result is such that no change in member benefits is needed.
2) total scheme liabilities (pensions curmntly in payment and the estimated cost of future
benefits) for service to the effective date of £262,000 mlllion and notional assets (estimated
future contributions together with the notional investments held al the valuation date) of £222,200
million, giving a notional past seNice deficlt of £39,800 million.
The result of this valuation was implemented from 1 April 2024. The next valuation result Is due
to be implemented from 1 April 2028.
The above is the standard positlon for schools. However, the charity has agreed contracts of
employments with teaching staff that have thè effect of Capping employer contribution rates for
those teachers that remain enrolled in the TPS of 23.68Yo. The charity's teaching stsff have a
hoice between {1} remaining in the TPS and funding the excess contribution via reduced salary-
(il) Opllng out of the TPS and joining the new APTIS defined contribution {DC) scheme. or (lil)
opting out entirely.
The employerfs p8nsion costs pald to TPS in the period amounted to £340,844 (31108123:
£309.252).
A copy of the valuation report and supporting documentation is on the Tea¢hers' Pensions
webslte. Undér Ihe definilions set oul in FRS 102. the TPS is an unfunded multi*mployer
pension schème. The school has accounted for its contributions to th8 schem8 as if it were a
defined contrlbullon scheme. The charitsble company has set otrt above the infomallon
available on the scheme.
30

St Cedd's School Educational Trust Limited
Company Limited by Guaranteo
Notes to the Flnancial Statements (contlnued)
Year ended 31 August 2024
Defined contribution schemes
The amount recognised in the statement of financial activities in relalion to defined contribulion
sthemes was £68,646 (2023.. £46,193).
23. Analysis of charitablè funds
Unrestrlcted funds
At
1 September
2023
At
31 August
2024
Income Expenditure
General funds
5,940.253
4.778.453 {4,516,862) 6.201.844
4.778,453 {4,516,862) 6.201.844
5.940,253
At
1 September
2022
At
31 August
2023
Income Expenditure
General funds
5,852.686
4,368.175 {4.280,608) 5.940.253
4.368.175 {4,280,608) 5,940.253
5.852,686
24. Analysis of net assets between funds
Unréstrlcted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors gr8at8r than 1 year
Not assets
4.963,138
4.963,138
3,289,322
3.289.322
{1.980,366} {1,980,366)
(70,250)
(70.250)
6,201,844
6.201.844
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
5,073,643
5.073,643
1,476,048
1.476,048
(536,438) {536.438)
(73,000)
(73,000)
5,940,253
5,940.253
31

St Cedd's School Educational Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 August 2024
25. Analysls of changes in net debt
At
At
1 Sep 2023 Cash flows 31 Aug 2024
Cash at bank and in hand
1,290,976
1,787.087
3,078.063
26. Related partles
During the year totsl related paty transactions were £Nil {2023'. £Nil)
32