Aldwickbury School'Trust Limited (A Company Llmit•d by Guarantee) Incorporated In England and Wales No. 950339 Registered Charity No. 311059 GOVERNORS. REPORT AND FINANCIAL STATEMENTS For the year ended 31 July 2024 *AE7YII)RE• 3110712025 COMPANIES HOUSE. A10
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ALOWICKBUR Y SCHOOL TRUST LIMITED (A Charltablo Company Llmltod by Guarant?e) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENOEO 31 JULY 2024 TRUSTEES The Governors of Aldwickbury School Tnjsl Ltd (the School) are the School's charity truslees under charity law and th6 direclors of Ihe charilable company. The Governing Body members who served in office as Govewnors during the year are detailed below. Dr R.L. Axworthy, Ph.D.. B.A. Mr P. Barr, MA B. Ed Mr J. G, Brornfield, M.B.E.. B,A.. P.G.C.E (Chair) r C. Boolhby, 8S¢ (Econ) Mrs T Chasmawala LLB {Hons) IAr A.D. Coley Mrs R.K. Cooke, 8,A. Mr C. M. Dinwoodie. L.L,8., M.8.A.. A.C.l.I, Mrs C Dugmore, ACA ' Mr J. Hodgson, B.A. Mr G Howe 8.com Mf J Lewis 8,Ed (Hons) Mrs J Lumsden, B.Ed (Hons) P.G.C.E 4 Mr S Mumford MA (Hons) ', Mr B Tolman MSC. BA (Hons). FRGS, FRSA 8 1.2.4J 3,3 1 Member of the Finance and Gener81 Purposes Commillee 2 Member of the Norninalions and Govem8nce Committee 3 Member of Ihe M8rketing Committee 4 Member ol the Remuneralion Cornmillee S Member of the Education Committee Durlng the year the activilies of the Goveming Body were carried oul Ihrough five commiiiees. The membership of these commitiees is shown above for each Governor. OFFICERS Mr P J Syrnes Bsc (frlons). P.G.C.E Bursar and Clerk to the Govefnors.: Major (retd) I S McLaughlin MSC, Cmgr FCMI PROFESSIONAL ADVISERS Bankers; Barclays Bank PLC West Hertfordshtre Business Banking Team PO Box 87 22-24 Upper Marlborough R08d St Albans Hertfordshire AL1 3HJ Auditors: Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP
ALDWICKBURY SCHOOL TRUST LIMITED (A Charitable Company Limited by Guarantae) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 The Board ol Governors present thelr Annual Report for the year eDded 31 July 2024 under the Companies kt 2006 and the Charities Acl 2011. consisting of the Directors. Report and Strategic Report under the 200 Act, logether with the audited financial statements for Ihe year. DIRECTORS, REPORT CONSTITUTION ANO 08JECTS Aldwickbury School Trust Ltd is a charitable company founded In 1969. Ils charlty registration number Is 311059, and Its company registration number Is 950339. The liability of its rneMbe is limited to a maximum of £1 each by 9U8rantee. The Registered Office and principal address of the Company is Wheathampslead Road. Harpenden, Hertfordshire, AL5 1A0. The Company is governed by ils Artlcles ol Assoclatlon. The Objecls ofthe Company, in acoordance with Its Articles of Association, are primarlly to carry on a school and other educational activities and to promote the fundamental principles of the Chrislian Religion. In the furtherance of these Objects, the Directors, as ihe charily trustees, have complied with the duty In s.17 of the Charities Act 2011 to have due regard Io ihe Charity Commission's published general and relevant sub-sector guldance concerning Ihe operation of the Public Benefit requirement under Ihat Act. AIMS. OBJECTIVES AND ACTIVITIES Aim6 The School's aims are.. To maintain the School as a day school with (zsualboarding opportunities in the upper years, in which there are strong and active partnershlps belween pareftis and the School and between the local community and the School., To offer all pupils a range of opportunities so that they can achieve to the best of Iheir ability within a framework of the shared Aldwickbury Values and Slandards; To value and nurture pupils as individuals, giving them a sense of their own self-worih and of Ihe value of service lo others, thu5 preparing them for life beyond Ihe School.
ALDWICKBURY SCHOOL TRUST LIMITED (A Charitable Company Llmlted by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 Prlmary obJ•clives The primary objectives of the School to fulfil these aims are: To provlde high st8ndard8 of teaching so that all boys achieve their polenllal: To encourage the boys to become independani learners. able lo think for themselves; To provide a broad and balanced curriculum from which all boys will enjoy and benefit; To provlde opportunllies for the boys to Ilvo out the Aldw¢kbury Values, which are broadly based around the Christian Faith and its values. developing them as their own., To encourage the boys to lake full advantage ol every opportunily presenled to them; To creale an outward-looking community, including boys, staff, parents and govemors, where mutual respect is encouraged and expected. These objectives are set out in the School's Strategic Plan, within six slrands 85 follows.. Strand l Building on current strengths Strand 2 Promoting outstanding teachlng and learnlng Strand 3 Promolion of the extra-curricular provision and the extended day aGllvities Strand 4 Using ICT for teaching. learning, administration and cornmunicatlon Strand 5 Enhancement ol comrnunity links Strand 6 Provide business resilience and Continuity that ensure5 the School can operate withoui disruption The Governors in partnership with the Head, Senlor Management Team (SMT> and the staff, are confident that wilh strong adherence to these objectives, Aldwickbury will deliver a curriculum that acaderni¢ally Ghallenges the boys 8t all levels; a school that has a gr0h mindsei io education and is forward thinking in its approach to Ihe future of educationlemployment. It also aims lo provide an environment Ihal will open the boys, eyes to the wider world outside the Aldwickbury community, a focus on ils charitable obligations and an eye on the seclor challenges so thal it can rea appropriately in advance withoul disruption to education and remain a going concern. Finally. a school Ihat aims to produce 'good people,.
ALDWICKBURY SCHOOL TRUST LIMITED (A Charitable Company Llmlted by Guaranteè) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 GOVERNANCE AND MANAGEMENT Governlng Body The Govefnors have a range of skills relevant lo the governance of the School. including, for example. in education. business. law. finance. property and planning. In considering new candidates for appointrnent lo Ihe Board. the Nominations and Goveinance Committee is mindful of Ihe skills needed lo complemenl existing board rnembers, skills which are subject to annual review and audlt. All candidates meet with the Governing body. (he Head and Bursar, and are inteNiewed by the Nominatlons and Governance Commitiee before nominalion to Ihe Board, Governor training New Governors are subject lo regulated safeguarding checks that include an enhanced disclosure barring service check, DireGlors check and Section 128 check. A comprehensive inductlon is Carried out which covers the workings of the School and of the Company as a r8gislered Charity and includes the obligations outlined by the Charilies Cornmisslon. strategy. policies and procedures. This is supplemenled by an induction pack Ihat contains a copy of the Articles of Association, Terms of Reference and an inlroduction lor School Governors from the charities commisslon, used as a reminder of their duties and responsibilities. All Governors conduct tralning as requlred which is identified annually as part of the skills audlt or as deslgnated to enhance their role as a Governor within Ihe School. Safeguarding tfaining is mandalory for all Governors and conducted on appointment and is refreshed annually. Where specific training is undertaken.11 is arranged via seminars and workshops organised externally by specialist providers SUPPOrted by the School's membership of the Association of Goveming 8odies of Independent Schools {AGBIS). An annual Strategy Day Ihat focuses on Aldwickbury and its prlorities for the future Is arranged by the Chair, in consullation with the He8d and the Clerk. This is supported by strategic speakers and workshops that locus the board on their duties as governors in the context of both the economic environment and the School's 8spSrations and obllgations. Organisational Management The Governors meet regularly as required through a variely of commillee meetings, school visils, and formally, the full Board meets al least three limes a year to determine the general policies of the School and lo review its overall management and control for which Ihey are sponsible. Oversighl of Ihe School's finances is provided by the Finance and General Purposes
ALDWICKBURY SCHOOL TRUST LIMITEO (A Charltablo Cornpany Llmited by Guaranleo ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 Comrnittee, Chaired by Dr R.L. Axworthy. which meets four ttmes a year. at the starf of each year and then. ahead of each meeting of the full Governing Board. The Marketing Committee, chaired by Mr C. Boolhby, meets at least three times per year and oversees the slralegy of 811 marketing 8Ctivities within the School, with the aim of ensurin9 a coherent and focused whole School Marketing Policy. The Nominations and Governance Cornmiltee, chaired by Mr& R Cooke, meets as needed: usually three limes a year with the primary purpose of ensurlng good governance Induding succe5sSon planning, Govefnors Skills and compliance. Th8 Educalion Commillee, chaired by Mr P Barr, meets three times a year overseeing the educational policy of the School and receives feports on initiatives and developments Irom the Head. SMT and relevani members of Ihe st8ff.11 also has Ihe responsibility for oversight of the School's safe9uarding policies. the importance of which is highlighted by the appointment of a safeguarding governor. Mr J Lewis. who is a member of the committee. The committee also works closely wllh the Designated Safeguardlng Lead and Ihe Head to focus on an independent safeguarding audit annually. The day-to-day managernenl ol the School is delegated to Ihe Head and the Bursar, who involve the SMT in delivering the services provided by the School, and together this group comprises the key management personnel. The Head and Bursar attend all Governing 8ody and Committees meetings as required. Other members of the SMT are invlted lo specific meelings as requlfed. Remuneration Pollcy Staff remuneration is determined by the Board on the recommendation of the Remuneration Committee (in consultation with the Finance and General Pufposes Commltlee). The Remuneralion Committee alms lo provide an appropriate salary. benchmarked against Ihe sector, mindful of the recommendations rn8de by Ihe School Teachers. Review Body (STRB). The Remuneration committee is able to offer recornmendations Ihal they feel appropriate to reward staff for their contribution and is competitive enough lo attract Ihe best staff thal will inspire the boys and evolve a currlculum. The remuneration of Ihe SMT is agreed by the board based on the recommendation of the Remuneration Comrniltee in isolation, which in maklng lis recommendalions. takes note of national benchmarks and the responsibililies of each member. The appropriateness and relevance of the rernuneralion policy is reviewed annually.
ALDWICKBURY SCHOOL TRUST LIMITED (A Charltable Company Limited by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JUL Y 2024 Structure and Relationshlps The School does not have any subsidiaries, norls it a subsidiary of any other enlity. The School retains its membership of various sector specialist bodies th81 support Governance. Education, Boarding and Business decisions along with trainin9, seminars and webinars that enhance the school's skills. knowledge and experience. The Head is a member of Ihe Independent Association of Prep Schools (IAPS) which exists for the promotion and maintenance ol preparalory school slandards generally. The School is a member of the Independenl Schools, Bursars. Associ8tion (ISBA). lo support business, support and administrative functions of the School., the Admissions, Marketing and Communications in Independent Schools {AMCIS), for support and the development of buslness management; the As60¢ialion of Governing Bodies ol Ind8pendenl Schools (AGBIS) for Ihe promotion and support of good governance: and the 8oardlng School Associaiion (BSA) for boarding matters, The School co-operales and works with local charities and education81 esiablishments in Ils ongoing endeavours io widen public access to the schooling provided, optimise the educational use of all facilities, develop access lo cultural facililies 81 the School and awaken its pupils to the opportunllies the School offers while givin9 them an awareness of the wider social context of the educalion received al the School. Employment pollcy Aldwickbury actively encourages diversily in staff, pupils and in the curriculum. The School is commilled to equality, diversity and inclusion as part ol Ihe staff recruitment process, which is governed by Ihe School's principle of non-dis¢riminalion. All recruitment needs are scrutlnlsed to agree Ihe need still exisls and then follows a process that best matches knowledge, skills, experience. characler and the requirements ofthe vacant post. Importance is placed on the Schoofs values, and all candidates are made awa of the expectations of our siaff through the interview process. Internally, this process is managed by the Head of Human Resources who ensures that the appropriate Steps are followed lo ensure that the process is fair and transparent. The School uses an electronic recruiting plafform thal ensures accurate records are kepl along with an impartial plarform Ihal 8IIows online and face-to-face screening ahead of shortlisling. The following criteria are considered in the selection of a candidate: The capabilily of Ihe individual lo perform in the posilion is Ihe major selection criterion but the ability both to work wllh olhers and to be trained, Coupled with individual potential, is taken inlo account.
ALDWICK8URY SCHOOL TRUST LIMITED (A Ch•rltable Company Llmlled by Guarantea) ANNUAL REPORTOF THEGOVERNORS FOR THE YEAR EhlDEO 31 JULY 2024 Applicants are dealt with courteously and as expediliously as possible. Carefully selected and validated skills which. when required, are measuod through a variely of assessments, including 'in-tray' exercises, scenario-based questions and, when appropriate, P5ychomelric tesls {adminlstered by a Irained tester). Appointmenls are conlirmed on receipt of satisfactory references. DBS (enhanced) checks {and. Whe applicable, a check of the prohibition order), evidence of mediGal fitness and satisfactory compleiion of a probationary period. Recrullmeni and employment decisions are made based on fair and objactlve crlleria. Selection procedures are carelully documented and are subject to review from time lo time to ensure Ihey a appropriate for achieving the school's objeclives and avoiding unla1 discriminalion. Interviews are conducted objectively; personal, or home commilrnenls do nol form the basis ol employment decisions, Every effort is made lo accommodate each candidate's requirements Ihroughoul the process. Aldwickbury fecognises and encourages all employees, rl9ht to equality of opportunilies. 8reach of Ihe equal opportunilies policy is a serious disciplinary rnaller and will be dealt with under Ihe School's disciplinary procedure at the most senior level in Ihe firsl instance. Annual Equalily, Diversity and Inclusion trainlng is provided to enable employees to Implement and uphold our commitmenl lo equalily of opportunity, All etnployees are glven their own copy of the siaff handbook leilher physically or by rnaking it available online), which contains all employmenl policies, including the School's Harassment and Bullyin9. Equality. Diverslty and Inclusion, Complaints and Viihislleblowing policies. These pollcies are reviewed annually. and addition81 employment policies are inserted as required.
ALDWICKBURY SCHOOL TRUST LIMITED IA Charitsble Company Llmlted by Guaranlee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 STRATEGIC REPORT MISSION STATEMENT The School's principal activity conlinues to be devoled to its objects as a charitable company for educational purposes by educating boys from 4-13 years of age. The 8oard's main objective is to educate all the School's pupils to as high a standard os Ihe individual's potential will allow in both academic and non-academic areas. STRATEGIES TO ACHIEVE THE PRIMARY OBJECTIVES To aGhleve the maln oblectlve of educaiing boys to as hlgh a standard as posslble, 8ignificanl investment continues lo be made in the School's facililles for educalion, the high quality teachers and in activities that continue to stimulaie leaming opportunities that benefil the boys in the School. ACHIEVEMENTS AND PERFORMANCE Review of achievements and performance for the year Thls year has seen continued growlh, both In lerms of facililies and pupil development, alongside further recognition of the school's outstanding educational offering. The school's commitment to providing an exceptional education Is evident in the ongoing Investment In facilllles. co-curricular acllvilies, and partnerships Ihal enhanGe the boys, learning experience. The academic year ha5 been marked by impressive results and focus on gr0h and development. From September 2024. all boys from Year 6 will be equipped with Microsoft Surface Pros, reflecting our comrnllment to preparing them for an ever-changing digilal world. Our Etafl have undergone comprehensive Iraining to support th8 roll-out of a blended leaming prograrnme, which will further strengthen Ihe academic curriculurn. This initiative will ensure our boys are leaders in digital literacy as they move on lo their chosen senior schools. Aldwickbury continues lo thrive in its co-curricular offerings. with standout achievements across drama, music. and sport.
ALDWICKBURY SCHOOL TRUST LIMITED {A Charltable Company Limitod by Guaranteo) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 Drama and Music: Our performing arts programme continues io engage over 350 boys weekly, with the Year 6 and Year 8 productions drawing full audiences to Chidell Hall. These performances showcased the boys, talents and the excellent work of our drama and music departments, reinforcing the importance of creativity and expression In a well-rounded education. Sporting Su¢¢ess: The new Sports Hall has allowed us lo expand our range of sports. increaslng participalion and supporting both competilive and recreational activities. Aldwickbury has seen national success for the second consecutive year, achieving hi9h-level results in athletics. Iriathlon, fencing, badminton. and cricket. This year, we have once again built on lasl years county cricket success, securln9 medals at nationa1 events, includlng national lilles in fencing. furlher cementing the school's reputation for sporting excellence. Our approach remalns focused on mass particlpallon. ensuring that all boys have Ihe opportunily to benefil from the physical and mental wellbeing Ihal sport provides, with a depth of fixtures and a wide variety of sports on offer. The dedication and expertl88 of our staff remain one of Aldwickbury's gatest strengths. This year, staff retentlon has been excellent, 8 testament to the positive worklng environmenl and professional developmenl opportunities we provide. Our locus is on.. Ignltlng Passlon in Teachlng and Learnlng: By encouraging a love lor leaching and loslering a culture of conlinuous improvement, we ensure that siaff remain engaged and molivaled. Our Siaff have a positive impact on the boys across 811 age ranges. Strong Communlcation: Open and regular communicalion between staff, pupils, and parents IS 8 cornersione of our success. This ensures that all st8keholders are aligned In working towards the besl outcomes for our boys. Extensive Hospltality: Our staff go above and beyond lo creale an exceptional experience for pupils 8nd p8rentS 81ike, consislenlly exceeding expectalions. There are many examples of Ihis IhrDughoul the academSc ye8r. Kaizen (Continuous Improvement): Through reflective practice and professional development, we maintain a commitment to kaizen, ensuring the school conlinues to evolve and improve in every area. The leadership team continues to seek ways they can support Ihe staff lo Improve the offer. Holistic Eqlu¢4t•on: We remain Iocu5ed on delivering an education that nurture5 nol only academic success but also the pefsonal, emotlonal. and physical development of every boy. We Iruly believe that academic success at the highest level can be achieved through this approach. The boarding school mod81 and longer school days 10
ALDWICK8URY SCHOOL TRUST LIMITED (A Charitable Company Llmitod by Guarante0} ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 also increase academic leaching time and allow the school to deliver reading periods, drama, arts, technology, music, study skills, and sport, all as part of the main Curriculum. For the second consecutive year. Aldwickbury has been named a finalist in Ihe Independent School Awards for Best Boys, School. This recognition is a testament to the outstanding curriculum we deliver and the strength of our overall brand. The success of our marketing strategy. Sed by our Head of Marketin9 in collaboration with the leadership team and teaching Staff, has played a crucial role in raising the school's profile and attracting new families. Our ability lo showcase the excellenl work being done al Aldwickbury ha5 ensured that the school continues to stand out In an increasingly competitive market. This year. our Year 8 Leavers are heading lo the following schools: St Albans 13 Bedford 13 Haileybury 2 Harrow 1 Berkhamsied 1 Oundle 1 Sl M8rg8ret's 3 St Edmund's 1 St Columba's 1 Culford 1 Overseas 1 This year. 13 boys in Year 8 were awarded scholarships, including 6 academic. 2 sport, 2 drama, and 3 art scholarships. Notably, Ihese achievements were secured without the presence of a designated 'scholars' class. reflecting our commitment lo fostering a growth mindset. Every boy is encouraged to reach his full potential in a supportive and challenglng academic environment. Our decision lo remove Ihe traditional scholarship class in favour of mixed.ability leaching h8s continued to yield excellent results. demonstrating that 811 boys can achieve al the highest levels with the right support and encouragement. The emphasis has been placed on 'teaching to the top,. In other year groups, the early entry lesi results were very pleasing. St George's, Harpenden. continues to be a destinalion of choice lor leavers, al 11 + and other local senior schools were 8 consideration for parents. The School wished these boys well. with leavers gifts as a show of thanks lo those families who have supported the School for seven years. However. while wishing boys well, the aim is to conlinue strengthening the Year 7 and 8 offering to retain boys at 11+ The School entered Ihe 2023124 academic Year with 47 boys
ALDWICKBURY SCHOOL TRUST LIMITED (A Chzritablo Company Limited by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 in Year 7. a iecord number demonstrating ihe outstanding educallonal offer available to the boys at Year 7 and 8. Pupil numbers The demand for places al Aldwickbury remains high, particularly in Years 7 and 8, where numbers are 8t record levels. this demonstfates the outstanding curriculum now on offer in the senior part of the school and the inveslment in facililies to provide the boys with two brand new science labs, a computing suite, and a STEl*h room. However, we have faced challen9es in Ihe Pre-Prep due lo growing anxieties around the potential implemenialion of VAT on school fees. Thls has led lo a small reduction In Pre-Prep sign-ups. and as a result, we will be9in the 202412025 academic year wilh hvo classes instead of the usual three. This is Common 8cross Ihe independenl sector and colncides with a low birth rate In the area. We are carefully monitoring Ihis sltuation and exploring strategies lo mitlgate its impaci while maintaining ihe quallty of our provislon. Numbers Asai July 2024 111 274 Asat July 2Q23 106 286 Pre-Prep IRe¢eption - Yr 2) Main School (Yrs 3-8) Total pupi15 Slt• developm•nt A usually busy summer schedule was centred on delivering a Sclence, Technology, Engineerin9 and Maths (STEM) hub adding much needed space to accomrnodale the evolving Fulure Thinking curriculum, This new facilily provides two fully equipped science labs, a modern ICT suite, and a mulllpurpose space for STEM and creative technology aclivities. Boys from Year 3 upwards are now benefilting frorn praclical, hands-on science lessons, reinforcing our commilment lo embedding a culture of curiosity and innovation from an early age. a dedicated Information, Computer and Technology (ICT) classroom and an adaptable Fulure Thinking classroom. 81ong with a space for LAMOA helped to locus the curriculum and ignite the passion of all the boys. Along side Ihe inslallalion of new classrooms we spent time lo refurbish and redecorate the Boarding house lo create a home from home atmosphere for Ihe boys. The decision lo dedicate each room lo a Iheme which regular boarders chose was a highlight of the project. 12
ALDWICKBURY SCHOOL TRUST LIMITED (A Chafitable Company Limited by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 This is further strengthened by the oulstanding work of the boarding siaff who continue to approach boarding with passions and enthusiasm creating an environment where the boys flourish and posltively impactin9 on their all-round education, The culmination of our summer scheduled works was the newly developed outdoor play area in Pre Prep which has proven lo be a wonderful asset. promoting 'free flow, play year- round between indoor and outdoor learning environments. This addition enhanGes the overall Pre-Prep experience by providing a stimulating enviconmenl where boys can explore and develop their physlcal, social, and crealive skills in line wilh our holistic educalional approach. Early in the Autumn term we were able to complete the much anticipated climbing wall in the sports hall. This was somelhing that we had hoped to deliver when the sports hall w85 completed however, we decided that we wanted lully to Integrate the Sports hall into Ihe school before iaking il offline to install a climbing wall. We feel Ihis is the crown in what we think is a sports hall thal would riv81 most senlor schools and has already seen boys develop their climbing and bouldering skills. enhancing ihe sporting and co-curricular offer. The Summer academic term was focused on our one-to-one device launch lo the boys. Delivery of 150 devices to our year 6, 7 and 8 boys was a sizable task. The support of the parents and the dedication of Ihe staff involved was immense and we feel it has truly 8slabllshed new technological ways of working and learning across all year groups. Throughout Ihe year however we continued investing in the classrooms and upgrading and updaling the estate. We remain true lo our ethos of modernising and freshening Ihe estate which are the drivers In deciding our prolect prlorilies this year and In future years. Summary of the year The 2023-2024 academic year has been one of notable growth and achievement for Aldwickbury School. Despite external challenges, our comrnllmenl to providing a stimulating and supportive educational environmenl has enabled us to thrive. With continued investment in facilities. enhanced academic and co-curricular programmes, and the dedication of our staff, we are well-equipped to inspire our boys for future success. 13
ALDWICKBURY SCHOOL TRUST LIMITED (A Charilable Company Llmlted by Guarantea) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 PUBLIC BENEFIT At Aldwickbury, we place great emphasis on our charitable status. which is a fundament81 part of our ethos. We have continued to expand opportunilies to enhance public benefit and deepen our engagernent with Ihe community. Our Strategic vision is rooted in our Christian values. as Aldwickbury is designaled as 8 Church of England School by the Department for Education. Public benefit allows us to align our faith, community Outreach, charitable work, and educational purpose in a unified and meaningful way. The Governors are fully committed to meeting the requirements of the Charilies Acl 2011, ensuring that Ihe School's objectives serve the public good. Throughoul the year. they have fulfi118d Iheir legal obligalion lo consider the Charlty Cornmission's guidance. especially on advancin9 education and the appropriate use of fees, to ensure compliance with public benefit expectations and their responsibllities as Iruslees. As a charily, the School's Income is dedicated to educational purposes. and currently. tax exemptions apply to aclivilies Ihal support our charitable aims. The financial savings from these tax exemptions are feinvesled into the S¢hool lo lurther educatlonal objectlves, including the provision of bursaries. However, as 8n educational charity, the School is exernpt from VAT at Ihis point, meaning we cannot reclaim VAT input lax on our costs. This Is sel to change with Ihe imposed VAT on independent educalion announcarneni made by the new Government. The Governors recognise the pressure this will place on their ability to meet charitable obligations and they may need to review where Aldwickbury can continue lo support public benefil in order to ensure that the School ¢an meet lis costs. Widening access: Bursaries The School's fees are sel al a level agreed by the board in order to faGilit8te and promote education, invest in stale of Ihe art facilities, adopt a continual attitude of improvement in exisling infrastructure, conlinue to widen educational opportunities and attract the best staff that will continue to inspire learning. However, il is important to the School. that the education offered is nol reslricled only to those who can alfor4J to pay fees, and thus, Ihe School's 8ursary Policy contribules lo a widening of access lo the education the School offers and the facilities available, The Governors continue lo review the School's Bursary policy in order to ensure that children are able lo accept places offered at the School. even if they are unable lo afford the fees. The availability of bursaries is publicised widely in all 14
ALDWICKBURY SCHOOL TRUST LIMITED (A Charltable Company Llmlled by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 adveriisements on ihe School website and in other rn8rketing malerial. The S¢hoDI does not have an endowment fund, so it musl also ensure a balance between fee-paying parents, many of whom make considerable personal Sacrifices to fund their children's education. 8n(J Ihose benefitting from the awards. All bursary applications are considered Ihrough a means-lested report supplied by a third- parly service provider however. great importance Is plac8d on the boy; his ability and Ihe opportunity that thls place would offer him, the contribution of Ihe family to the School and our charitable obligations. The Head and the Bursar consider the reporl and rnake rècommendations to the Governors to offer support to those deser¥ing families. The level ol support varles and can be up to 100% of fees which is always justified to, and approved by the board, All bursaries are reviewed annually and. where appropriate, further recommendalions are then made and approved by the board. Ouring this period, s8ven granis were in place during the year (one 8l 1000/0), of supporl. (2022123.. seven granls of which Ihree 8l 1000/0). The Governors allow Ihe Head and eursar lo offer short term hardship support to families who encounter lernporary dlfficulty. At all times. this decision is made at a level that ensures fees are met and follows a principle to minimise any dlsruption to Ihe boy. The Head and the academic team work closely with the Bursar and finance team to identlfy any potential problems, encountered by parents, and through a strong relationship built on trust and understanding. the Bursar and Hearj are able to work with lamilies to ensure the onllnuity of the boy's education, despite any financial diff icullies the lamily may experience. Thls year the 10181 amounl of discounts was £75,233 (2022123: £67,854) of which bursaries and hardship asslsiance accounted for £98,724 (2022123.. £130,954). Partnership with The Shared Learnlng Trust Aldwickbury continue5 to foster a strong and dynamic relalion5hip wilh The Vale. Rushmere, and Linden Academies in 8edfordshire, three primary schools within The Shared Learning Trust (TSLTI, a mulli-academy trusl. Now in its eighth year, this partnership remains integral to Aldwickbury's elhos of enrlching Ihe lives of ils students. Both Aldwickbury ancl TSLT pupils benefit greatly from Ihe opportunities lo inleracl, and lake advanlage of Ihe School's space and facilities. The Governors. Head. staff, and most importantly, the boys, all believe thal this partnership is mutually beneficial, creating a learning environment where everyone can grow and learn from each olher.
ALOWICKBURY SCHOOL TRUST UMITED IA Charltablo Company Llmited by Guarantoe) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 Throughout the year, Aldwickbury has collaborated with TSL T in a variety of initiatives aimed at sharing best practices and building slronger educational experiences, including.. Collaborative Donations.. The Aldwickbury Friends Associatlon and the School worked together lo provide supermarkei vouchers for TSLT families. Bloodhound (land speed record challenge) for Year 5 and 6 Tennis lessons for Year 5 and 6 students, led by Year 8 boys Climbing Wall sessions. hosted by Year 7 and 8 boys Winter Clothing and Gift Collections: Aldwickbury collected and donated winter clothing and Christmas gifts to chlldren at TSLT, as well as Sl. Matthews and River Banks primary schools in Lulon. Science Week Assembly.. Year 8 pupils delivered an engaging Science Week assembly to Year 6 pupils from both local and partner schools. Keen Readers Workshop.. Pupils from TSL T attended a creative writing workshop hosted by Aldwlckbury, Joined by studenls from other local schools. Specialist Sporting Events: Aldwickbury offered lennis. athletics, and crlcket events for primary school children across TSL T. fostering participation in sports. Leadershlp and Governance Support: Aldwickbury's Head of Individual Development continues to ser4e as a Governor on TSLT'S Pfimary Communlty Cluster 8oard, visiting schools regularly to provide guldance on sports, well-being. and community links, Special Educalional Needs Tralning.. TSLT has continued lo offer support lo Aldwickbury through training on special educational nee(J5 for Ihoir staff. Maths Challenges.. The School continued ils iradilion of running Maths Challenges for Year 4 and Year 6 pupils from various schools across Hertfordshire. staff Governance Roles: Four members of Aldwickbury's staff serve as governors al maintained schools, with the School supporting their participation during work hours. In addition to these formal collaboraiions, several Aldwlckbury staff members contribute Iheir experlise to the wider community. Two qualified athletics coaches support local children with varying abilitles, from beginneis lo athletes competin9 al national and intemational levels, with Ihe School allowing Ihem to attend events during lerm time. Additionally. members of the Games staff, alongside the Headmaster, coach local Children in crickel, fugby, and football, with the School's facilities and equipment used for these coaching sessions. 16
ALOWICKBURY SCHOOL TRUST LIMITED (A Charltable Company Llmlted by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 Community Access to the Facilities Aldwickbury continues io fosler strong lies with the local community by expanding access to ils grounds and facilities. The boys are well aware of how fortunaie they a to benefit from these excellent amenities. which provide opportunilies across both Ihe academic and sporting Curriculum, They recognise the value of these resources and the privilege of having access to such an enriching envlronment. This year. our focus on Comrnunlty engagement has deepened. We've actively opened our grounds and facililies to Ioc81 schools, businesses, residents, and neighbours, broadenlng the scope of who can benefit from our resources. Our partnership with TSLT continues to exlend our reach, allowing us to connect with schools beyond our Immediate area and benefit from a shared experience. Slrenglhening our community ties has become a priority. and some key initiatives Include: Four schools benefll from the occess we provide to our pool where their students benefil from we8kly swlmming lessons as part of their curriculum. We continue to support local Cricket Clubs, who regularly use our grounds and nels for training and matches. Indeed, many of our staff offer their support lo these sessions and regularly participate as team members. Our swimming pool offers local swlrn schools an opportunity to provide swimming lessons lo various age groups in the communily six days a week. Our premiurn sports hall facility has become a key attraction 10 the community and this year we have hosled a range of activities from birthday parties. to nalional slandard badminion clubs. We have hosted Schools Tfiathlon events. ulilising the grounds and pool for over 500 children. From time to time. we provide access to our all-weather playing field for a local children's rugby club, and we hope to further strengthen these ties In Ihe coming years. Charllable Givlng The importance of our obligation lo charitable support remains al the cor8 of Aldwickbury's ethos, and Is somelhing to which Ihe Governors. Staff and boys are fully Gommitted. The
ALDWICK8URY SCHOOL TRUST LIMITED (A Charltable Company Limlted by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 Future Thinking curriculum Continues io focus on local communlty and the important role Ihat Charities play in the wider community and nationally. This allows Aldwickbury to reflect on the Christian values in which our loundalions are built. The Boys, Council (involving pupils from each year group) takes a leadSng ro18 In charitable fundraising and the boys 8re always excited to look al ways to support charilies and highlight their causes. Often, this has been planned well in advance but has always been flexible to react to national and iniernatlonal fund raising campaigns in response to disaster and humanitarian relief. In September 2022 the boys began work thal raised awareness of the work and support the local food bank which has now been enshrined in the work Sead by the year 8 leadership programme. Supported by the staff they raise awareness acfOSS our community and ensures thal the initiative is supported by parents, family and friends. This year the boys supported Jeans for Genes as well as the annual support of the Royal British Legion Poppy Appeal. This year r8is8d over £370. (2023: £1,252} Aldwickbury Friends Assoclation (AFA)'s regularly raise awareness of Ioc81 worthy charlties and annually run a variety of different charitable campalgns from colleclion ol clothes and winter coals lo Chrlstmas gifts for children. Through liaising with local charitles, they are able to support families and children from a low sociooconomic background. The AFA bazaar is alway5 highlight of the School calendar 8nd something the enlire comrnunily lakes part in and is a key aspect of Ihe School fund raising ability in 8n environment Ihal in fully immersive for the communlty. raising rnoney to support their chosen charity, VOLUNTEERS Through our Ilnks with AFA OUT parents have continued 10 make a signilicant contribution to the events al Ihè School. hosting and laking part in School events. There are a wide range of aclivilies that are nol direclly related 10 the education provision, but nonetheless are an important contribution lo School life. This year, AFA has conlinued lo develop and host weekend events for Ihe boys including survival, Lego englneering and a nlght camping out. AFA'S lundraising activities has been significant in supporting classroom learnlng and wider curriculum activities and many of our parents volunteer to speak to our year 7 and 8 boys about the 'world of work,, often inspiring and motivating the boys to a career path they may nol have Ihoughi of. This year we have also been fortunate to be supported by a parent who competes nationally al Triathlon, who comes in weekly to support the boys 'Tri Club,, that has identified some talented boys who have since gone on to compete successfully in nalional triathlon events. 18
ALDWICKBURY SCHOOL TRUST LIMITED (A Charitable Company Llmited by Guarantee ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 FINANCIAL REVIEW Results for the Yeaf sn setting Ihe budget, the Governors align financial planning with the School's slrategic priorities - namely, providing the best possible environment for its pupils. 8tlracting new enrolments. and supporting growth through commercial activities. Achieving these aims requires ongolng investmenl In the estate. infrastructure, and curriculum, which is typically underpinned by maintaining a pre-deprecialion surplus of approxirnately 100h. The Governors recognise that. from time lo time, additional inv8Stmenl is necessary to deliver key improvements. In such cases, the Governors are willing to support planned deficits to enable these enhancemenls. For the academic year 2023-2024, investmenl locussed on openlng of the STEM Hub facillties. Purchase of a Sunshade Canopy for Pre*Prep, inslalla(ion of a cllrnbing wall in th8 Sports Hall, upgrades to Ihe boarding suite which collectively contributed to a nel deficit after depreciation of £366,064 {2023: surplus £19.519) as reported in the Stalement of Activities on page 32. Golng Concern The Governors recogni5e the importance ol their responsibility for business resllience that will prevent disruption lo education and ensure that Ihe School can opefate as a going Concern. This is achieved through 8 number of financial strategies delegated by the board lo the Flnance and General Purpose Committee to monitor and report to the board. This has been especially important as the School has seen 8 decline in pupil numbers due to a national low birth rate year and the change of Govemmenl. This year the Governors have sel up regular working groups that have focused analysis on the impact of VAT on fees which has reported direct lo Ihe board. The board remain reactive and flexible lo a changin9 landscape bul continual assess budgets, analyse the sector to understand Ihe Ihreats. weaknesses, opportunities and risks, set a basis of solid and measurable Key Performance Indicators (KPIS), scrutinise the management accounts, understand the need for capital projects, Identify the income streams (specifically the forecast of pupil numbers). effectively forecast and scenario plan where necessary, ensure that cashflow is properly invesied, the School meets the liabililies, debt servicing and loan covenanls along wilh Ihe reserves posilion and fundamentally, Ihe assessment of Ihe School's obligation to maintain ils position a5 a charity. 19
ALDWICKBURY SCHOOL TRUST LIMITED (A Charltable Company Llmiled by Guarantee) ANNUAL REPORTOF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 In the view of the Govemors. no assumptions conr*rning the School's future Ihal would affect the assels or liabilities at fhe balance sheet date are likely lo result in a material adjustment to their carrying amounts in the nexl financial year, nor will they affeGt the School's abilily to meet its ongoin9 obligBlions for the following Iwelve months from the date these financial statements have been si9ned. The Governors have reviewed the budgets and forecasts for the upcoming period and are satisfied that the School is a golng concem. A8S•ts and Obligations Tangible Fixed Assets are shown at a nel book value of £12.553,270 (2023; £12,559,925) In note 12 of Ihe financi81 statements. These include Ihe first contractor's valuation for which a depreciation charge has not been made. The School has continued 10 invest in developlng its site during the year, as outllned In the Sile Development section of this report above. In addllion. in anticipalion Df the roll out of one-to-one devices from Seplember 24. the School invested in upgrading both the School's IT Inlrastructure and equipment. As a result, total capit81 expendltuie during the year ended 31 July 2024 was £891,933 (2023.. £715,585). ReseThes Pollcy The free reserves of the School. as defined by the Chafilies SORP (FRS 102), are Ihose reserves which have not been spent, committed or designated. They, therefofe, exclude all restricted funds, designaled funds and unreslricied flxed assets and represenl the funds which are Ireely available to the School to spend as the Governors see fit on charilable activities. Under this definition, the School's total funds are £9,315.638, (2023,. £9.681,702) of which unrestricted funds are lied up in its land and buildlngs and therefore as with all schools, Aldwickbury is reliant upon ils fecurying cashflow to meet its working capital obli9alions. Each year a detailed budgel is produced for the following year and period perforrnance is monitored against those figures. In setting Ihe budget. the Governors, policy is to generate sufficient reserwes each year to enable the School to invest in its facilities and fulfil its objectives, support and seNice ils borrowings, and provide working capital. The School utilises all of its reserves in meeting these aims and does not expect lo generate free reserves over and above the level required to meet them. 20
ALDWICKBURY SCHOOL TRUST LIMITeD (A Charilablé Company Llmlted by Guarantee) ANNUAL REPORTOF THE GOVERNORS FOR TtrIE YEAR ENDED 31 JULY 2024 Investment Pollcy and Objectlves The School has absolute power to Invest in its corporate reserves. The funds al the year- end, together with future surpluses, will be used (o fepay the balances on the outstanding loans, maintain and upgrade the existing estate. This is balanced against the foreca$ting ol future IhTeals lo the cash now lo ensure the School can react effectively to financial threats and remain a going concern. FUTURE PLANS The Governors are fully aware 01 the challen9es the sector faces as the new Government forms and imposes new tax legislallon on indep8ndent education and they are also lully cognlsanl of the impact this will have on our families. They also recognise the need for future plans to be supporled by a strong linancial structure and In the current clirnate, they feel thal decisions on future developments should be made in 2025. at a lime when the School can better understand Ihe impact of VAT on Fees. To support their future decisions, they undertook a full estates review late 2023 to understand whal the future priorities 8re, restrictions and challenges. The report outlined th8 aspir8tlons to grow in pupil numbers, provide a permanent home for the STEM curriculum, a dedicaied multi-purpose pavilion Ihal series as a place lor parents to meet and enjoy the grounds while watching our boys at games as well as 8 mulli-use room for afierschool club, drama and additional classroom space and finally, a redevelopment of Pre-Prep. At ils cor8, this is a blueprint for major development and upgrade decisions in the future and has helped create a roadmap for the School's development plan priorities, In the meantime, the Sporls Hall is now well established, and is providing an academic sporting space that broadens the boys minds beyond traditional sport5. and a STEM hub Ihal is at the heart of Ihe School's philosophy and ethos and has been lully embraced by the boys. p8renls and stalf. We are very proud of what lh8 broader curriculum has achieved and we continue to challenge the enlire School community lo maximise their potential which is now being nationally recognised by Aldwickbury reaching the final for independent l)oys school of Ihe year lor the second year running. As the school looks lo eslablish the delivery of one-lo-one digilisation {inculcaling a laptop in our upper years as parl of their stalionary), in September 2024, we will focus on Ihe 21
ALDWICKBURY SCHOOL TRUST LIMITED (A Charitablo Company Limlted by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 holistic delivery of digital learning in all year groups. This will help us connect the leaming journey from Reception to Year 8 and will require some inveslmenl in upgrading iPads as well as maintaining a roll oui for Year 6 student laptops in 2025. Of most importance however, is the abillty for Aldwickbury to ensure that It can continue to improve end maintain Ihe existlng estate, upgrade and freshen classrooms and ensure the boys are able lo grow In the current space. This is something that will always for part of our regular maintenance routine and will supplement the Estate Master Plan's major capital projects from 2025 and beyond. RISK MANAGEMENT The Governos malntain overall responsibilily for risk management and the School's abillty to work within acceplable toler8n¢e as 8 high priorlty. On a day to day basls, they delegate decisions related to School operations lo the Head 8nd the Bursar however, they malntain an overrfiew throu9h regular visits and cornrnunicalion al commlttee and board level, Thelr oversighl includes both académic and business aclivities. including the safeguarding of pupils. financial actlvily and reputational and non-reputational risks thai may unnecessarily expose the School to litigation and crilicism. Aldwickbury follows a holistic approach lo rlsk 8nd mitlgating for all routine activities on day to day basis in provicling a safe curriculum. We follow the fundament81 principle Ihai ensures risk is both articulated and miligaled to As Low As Reasonably Possible (ALARP). This approach is Integral to how the School provides 8 responsible learning environment where boys can grow and learn and is part of our cuiiura. Risk assessmenls for all major trips are agreed by the Head. and the Bursar ensures that Ihg academic, business and environmental risk Is regularly reviewed, monitored and discussed. The increasing political and seclor threat that will have a profound impacl on the business, focuses a risk stralegy that concentrates on Ihreals such as VAT on fee5 and the political rheloric around independent schools. They place importance withln the current risk profile on Ihe impacl that VAT on fees may cause along wilh Ihe impact of the loss of rates r8llef. Whilsl these are key risks for Aldwickbury, the rouline risks Ihat will impact the abilily lo maintain a consistent educalion offer are also a high priority. This includes Cyber hacks and denial of access. the food. energy and Ihe wlder costs of living crisis. the Ihreat that menial health poses lo staff and internal Ihreats that are often unforeseen such as siaff 22
ALOWICK8URY SCHOOL TRUST LIMITED (A Charltable Company Limltgd by Guarantee> ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 shortages. The Board. wherever possible also tries to predict risks thai the School may face in order to react appropriately should the need arise, The School maintains a full Risk Register which is regularly reviewed at the relevant committee and lop risks ar8 discussed al full board. The Board salisfies ilself that systems are in place to miligale those risks so far as is reasonably possible. The Bursar articulales new risks and new assessments to the appropriate cornmittee after review, with all top risks being made available for full board assessment. The 8oard places emphasis on areas Ihat place the School at the most risk and direcis the Head 8nd Ihe Bursar lo review areas if the econornic, political or sector demands. Of note, the following are areas that demand close obseplation: The School continues to provide a safe environment; Effeclivenes6 of governance and m8nagemenl. including compliance with changing regulations as sel out by the Charities Commission and the Deparlmenl for Education; Effectiveness of operations, 10 include environmental consideralions. such as Iraffic movements on site, waste management and essential plant senlices: Effectiveness of safeguarding procedures: Ensuring the financial health and stability of the School. includlng the retention of pupils, and the abilily lo cope with the rise in energy cosls. a continuing Ihreal from the cosi of living crisis, including the parent's ability lo meei fee demands., The Ihreal posecl by a cyber breach and a denial of access Ihrough ransomware Risk management procedures include the following:. The School has a Risk Assessment Policy and all risk assessments are reviews regularly. All members of stsff receive induclion training in risk assessments lailored to Iheif specific areas. 23
ALDWICKBURY SCHOOL TRUST LIMITED (A Charllable Company Llmited by Guarantee) ANNUAL REPORTOF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 The School's policy is not to carry out any 8Ctivity where the residual risk following th& implemenlation of all reasonable control measures remains unacceptable. Activities Involving boys are normally low risk, The School follows super¥ision ratios in order to mitigate medium-risk activities with pupils, such as swimming and pond dipping. Staff and pupils are always given a safety briefing before participating in mediurn-risk activities and are expected to follow instructions. The school's pasioral policy focuses on ensuring that every pupil leaves as a confidenl, 8rticulale young person capable of keeping himself safe at school, in the home, and in all siluations. PHSCEE programmes. IT lessons. and assemblies help towards promoting an increasing understanding as the pupil develops, of the risks that exist in both the real and the digital wortds, and sensible precautions that should be laken. Science lessons encourage pupils to conduct their own safety-related research Into the potenl181 hazards of chemlcals, gas, el8Ctri¢ity, and flammable materials. All members of slaff are given induction training into the School's arrangements for risk assessmenls and health and safety. (ollowed by ongoing irainlng and updates as requlred. Tho Heallh & Safety Committee. whose membership consists of both leachlng and support slaff drawn from all key areas of the school, rneets twice a term to revi8w all aspecls of Health & Safely. External financial faclors which are outside of the School's control but havo the potential lo cause financial difficulties for the School, such as the impact of thè ener9y and cost of living crisis, wlder economic decline, taxation legislation are regularly monitored by Governors and the School's Senior Management Team. HEALTH ANO SAFETY The Governors prioritise safe working practices al School and maintain full responsibility for all Heallh and Safety related malters. However the management of Health and Safety is delegated, and any breach of regulations or injuries where the School can be seen as culpable, are discussed immediately with the Chalr of the Board and the Chair of the Finance and Gener81 Purposes Cornmiltee. Health and Safely and matlers of the Estate are 24
ALDWICKBURY SCHOOL TRUST LIMITED (A Charllable Company Limlted by Guaranto8) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 discussed as required al the Finance and General Purposes Meetings and all policy documents are regularly reviewed. Aldwickbury has a service a9reement with Peninsula Business Safe and Health Assured. a qualified and dedicated service which provides an online resource with policies that are up-lo-date and compliant with the latest Health 2nd Safety Execulive (HSE) requirements. They will provide training and carry out annual assessments and inspections, and provide a one-lo-one mediation and advice servicefor any reputalionel threat caused by a bre8Gh in policy andlor HSE legislallon. The local fire brigade carry oul fire inspections and fire safety checks. The 8ursar chairs Ihe Health and Safety Commiltee and all felevant issues are discussed and the minutes are presented to the full Board for review and comment. Aldwickbury is committed lo the requirements of Reporting of Injuries. Oiseases and Dangerous Occurrences Regulations (RIDDOR) and follows the guidance of HSE. The School is a member of Ihe Consortium of Local Educalion Authorities for the Provision of Science Equlpment (CLEAPS), and the Head of Science provides specific Input to Health and Safety Committee. Aldwickbury regu18rly carrles out fire alarm tests (weekly) and completes a full evacuation test al least once during a term. Aldwickbury also works closely with the local health authority, covering food salely, food hygiene, and the kitchen's managemenl. This year's main focus has been lo remain vigilant and reactive to the requirements ol COVID-19 and Aldwickbury has esiablished a good relationship with the local health authorlty. The School ensures all staff are regularly aware ofthe environmental changes and have the 8billly lo manage their classroorn envlronmenl as well as their own health appropriately through briefings, guidance and adherence lo Government guidance and internal monitoring. STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES The members of Ihe Governing Body (who are also Ihe directors of Aldwickbury School Trust Limited for thepurposes of company law and Trustees for the purposes of charity law) are responslble lor preparing the Annual Report and Ihe financial statements wilh applicable law and United Klngdom Generally Accepted Accounting Practice {Uniled Kingdom Accounling Standards). Company law requires the Governing Body to prepare financial statements for each financial year, Under Ihal law Ihe Goveming Body has elected to prepare the financial slalements in accordance wilh United Kingdom Generally Accepted Accounting Practice 25
ALDWICKBUR Y SCHOOL TRUST LIMITED (A Charltable Company Limlted by Guarantee) ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2024 aware of the relevanl audit information and establish that Ihe Company's auditor is aware of that information. Approved by the Governing 8ody of Aldwickbury School Trust Limited on, including, in their capacity as cofflpany directors. approving the Directors. and Strategic Reports contained Ihereln, and signed on ils behall by: Slgnature: Position Chair of Governors Date:. 30 July 2025 27
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ALDWICKBURY SCHOOL TRUST LIMITED Opinlon We have audiled the financial statements of Aldwickbury School Trust Llmlted ('the company.) lor Ihe year ended 31 July 2024 which comprise the Statement of Financial Activlties, the Summary Income and Expenditure A¢counl, the Balance Sheet, the Cash Flow Slalement and notes to the financial statements. including significanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Untted Kingdom Accounting Siandards, including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, (United Kingdom Generally Ac¢epted Accounting Practice). In our oplnion Ihe financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 July 2024 and of ils incoming resources and application of resources, including its income and expenditure, for the year then ended,, have been properly prepared in accordance with United 'ngdoM Generally AcPie Accountlng Pfactice: and have been prepared in accordance wllh Ihe requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with Inlernational Slandards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in ihe Auditor'$ Re$ponsibilities for the audll ol the financial slalements section ol our report. We are independenl of the charitable company in accordance with the elhical requirements that are relevant to our audit ol the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhlcal responsibilities in accordance with these requirements, We believe thal the audit evldence we have obtained is sufficient and appropriale to provide a basis for our opinion. Conclu8lon8 r•latlng to golng concem In auditing the financial statements, we have concluded that the Irustees, use ol the golng con¢em bas1$ of accountlng in the preparalion of the financial statements is appropriate. Based on Ihe work we have performed, we have not identified any material uncertainties relating to events or Conditions that, Individually or collectively, may cast Slgnlficant doubt on the charitable company's ability to eontinue as a going concern for a period ol at least fvielve months from vthen the financial $lalements are authorised for18sue. Our responsibilitles and the responsibllities of the trustees with respect to going concern are described In the relevant sections of this report. Othor infomlatlon The olher inlormalion comprises the information included in the annual report, other Ihan the financlal statements and our auditorfs report thereon. The trustee5 are responsible for the other information contained within the annual report. Our opinlon on the financial slalements does not cover the other Infoimatlon and. except lo the extent otheThvlse expllcitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our fesponsibillty is to read the other inlormalion and. in doing go, consider thelher the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially mi5Stated. If we idenlify such material Inconsistencies or apparent material mlsslalements. we are required lo determine whether there is a material rni5Statemenl in the financial statements themselves. If, based on Ihe wort< we have performed, we conclude thal there is a material misslatement of this other information, we are requirerj to report that fact. 28
We have nothing to report In Ihis regard. Oplnions on other matters pr•s¢ribed by the Companlos Act 2006 In our opinion, based on the bvork undertaken In the course ol the audit: the information given in the trustees. annual report for ihe financial year for which the financial slatements a prepared is Consistent with the financial slatement$', and the strategic report and the Iru$tee$' annual report have been prepared In accordance vllh applicable legal requirements. Matters on *thich we are re9uir•d to report by gxceptlon In the light of the knowledge and understanding of the company and its environmenl obtained in the course of the audll, we have not identified material misstatements in the trustees, annual ieport. We have nothin910 report In respect of the lollowing matters where the Campanles AGI 2006 requlres us to report to you if, in our opinton; adequate accountlng records have not been kept, or return$ adequate lor our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and retufns,. or certain disclosures of trustees, remuneration specified by law are not made., we have not received all the informatlon and explanation8 we iequire for our audit. R•spon8ibllitle¥ of tfustoes As explalned more fully In the truslees, responslbllltles statemenl set out on page 18, the trustees (who are also the directors of the charitable company lor the purposes ol company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees delermine is necessary to enable the preparation offinancial statements that are Ifee from material misstatement. whether due lo Iraud or error. In preparin9 the financial statements, the trustees are responsible for assessing the eharrtable company's ability to conlinue as a going concem, disclosing. as applicable, matters related to going concem and using the going concern basls of accountlng unless Ihe trustees either intend to liquidate the charltable company or to cease operations, or have no reallstic alternative but to do so. Audltoes Re3pon3ibllltle$ lor th• audlt of thg financlal stat•m•nts Our objectives are lo obtain reasonable assurance about whether Ihe financial slatements as a whole are free from material rnisslatemenl, whether due to fraud or error, and to Issue an auditor's report thal Includes our opinion. Reasonable assurance 18 a high level of assurance, bul is not a guarantee that an audit conducled in accordance with ISAS {UKI will always delecl a malerial misstatement when il exists. Misslalements can arise from fraud or error and are considered malerial if, Individually or in aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain prolessional scepticism throughout the audit. We also.. Idenlify and assess the risks of materlal misstatement of the finanelal statements, whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtsin audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud Is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions, misrepresentations. or the override of intemal control. 29
Obtain an understanding of internal control relevant to the audit in order lo design audit procedures that are appropriate in the circumstances, but not for the purposes of expressin9 an opinion on the effectiveness of the charitable company's internal control. Evaluale the appropriateness of accountlng policies used and the reaSonablerS 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 audil evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitsble ¢ompany's ability to continue as a going ¢oncern.11 we conclude Ihat a material uncertainty exlsls. we are required to draw attenlion in our auditor's report to the related disclosures in the financial statements or. il Such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of our audrtor's report, However, future event$ or condition$ may cause the charitable company lo cease to continue as a going concem. Evaluate the overall presentation, stnJ¢ture and content of the financial $tat•ments, Including the disclosures, and whether the financial stalemenls iepresenl the underlylng transactions and events in a manner that achieves fair presentation. We cornmunicate wlth those charged with govemance regarding, among olher matters, the planned scope and ts'ming of the audit and slgnificanl audit findlngs, Including any significanl deficiencies In internal control Ihat we identify during our audrt. Explanatlon as to what extent th• audlt was consldered capable of deteclhng lffegularltlég, Including fraud Irregularities, including fraud, are instances of non-compliance with laws and fegulatlons. We deslgn procedures in line wlth our responsibilities, outlined above, to delect material misstatements in respect of irregularities. including fraud. The extent to which our pr¢xedure$ are capable of detecting irregularities, including traud 1$ detailed below. The oblectlves of our audil in respect of fraud, are,. to identify and assess the risks of material misstatement of Ihe financial statements due to fraud,. to obtain sufficient approprlate audlt evidence regarding the assessed risks of material misstatement due to fraud, through deslgning and Implementing appropriate responses lo those assessed risks; and to respond approprlately to inslances ol fraud or suspeGted traud identified during the audit. However. the primary responsibilily lor the prevention and deleclion of fraud rests with both management and those charged with governance of the charitable company. Our approach was as follows: We obtalned an understanding of the legal and fegulalory requiiements applicable lo the charitable company and considered Ihal the most signilirAnt are the Companies Act 2006, the Charilies Act 2011, the Charily SORP, and UK financia5 reporting standards as issued by the Financial Reporting Council. We obtained an understanding of how the charitable company complies wlih these requirements by discussions wlth management and those charged with governance. We assessed Ihe risk ol malerial mlsslalement of the financlal stalements, including the risk of malerial misstatement due to fraud and how it might occur, by holding discussions with management and those Charged wilh governance. We inquired of management and those charged with governance as lo any known Instances of non-compllance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures lo identify Instances of non-compliance wlth laws and regulatlons. This included making enquiries of 30
management and those charged with governance and obtaining additional corroborative evidence as required. There are inherenl limitations in the audit procedures described above. We are less likely to become aware of inslances of non-compliance wlth laws and Tegulattons Ihat are nol dosely related to events and transactions reflected in Ihe financial statements. Also, the risk of nol detecting a material misstatement due to Iraud is higher ihan the risk of not delecting one resulting from error, as fraud may involve deliberate concealment by. for exarnple, forgery Of intentional misrepresentations, or through collusion. Us• of our r•port This report 1$ made solely to the charitable company's members, as a body, in accordance with Chapler 3 of Part 16 of the Companies Acl 2006. Our audit work has been undertaken so Ihat we might stste lo the company's members those matters we are fequired to state to Ihem in an atjditor's report and for no olher purpose. To the fullest extent permitted by law. we do nol accept or assume responsibility lo any party other than the charitable company and charitable company's members as a body, for our audit work, for this pOrt. or for the oplnlons we have fornied. 00 ILvr knLr Date:: 30 I925 Shivani Kothari (Senioi Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 9 Appold St London EC2A 2AP
STATEMENT OF FINANCIAL ACTIVITIES {Including the income and expenditure statement) for the ear ended 31 Jul 2024 Unrestricted I Deslgnaled funds Total 2024 Tolal 2023 Noles INCOME FROM: Chafltsbl• Acllvltlès School fees Other educalional inrne Oth•r Incorne Olher Iradlng income Invostment• Investment InrAJme Voluntsry sour9 Grants and donat1($ 6,791,866 794.214 6,791,868 794,214 6,250,382 685.867 49,490 49,490 37.604 25,327 25,327 24.174 26,921 26,921 32.365 Total Incom• and endowmeftls 7,687.818 7 687 818 7 030,192 EXPENDITURE ON: Colts of f•l8lng funds Inleresl and olher costs 169,402 169,402 183,462 Chafltablo actlvltles EdUcatn 7.88S,019 7,885,019 8,827,208 Tolal expendlture 8,054.421 8.054,421 7,010,670 Net operatlng In¢om•l(•xpendlluro) <366.603) (366,603 19,522 Oiher Profli or Loss on sale of 8SSétslpioperty 539 539 Net lncom¢l{•xperotUrej 11 {366.064) (366,064) 19.522 N•t movemont In lund8 (366.064) 1306,064) 19.$22 Fund balar)¢és brought lor*vaid 9,681,702 9,681,702 9662 180 Fwid balances carried forward 16 9,315.638 9.315.638 9.681,702 The statement of financial ac4ivilles Includes all galns and losses In the year and Iherelore a slaternenl of lolal recognlsed gains and losses has nol been prepared. All of the above amounts relate lo continuing aclivities. The accompanylng note5 form part of these financlal slalemenls:
Idwickb rysc ool Trust Li.mite BALANCE SHEET as at 31 Jul 2024 Notes 2024 2023 FIXED ASSETS Tanglble assets 12 12,553.Z70 12 559.925 12,553,270 12,559.925 CURRE14T ASSETS Deblors Cash al bank and in h8nd 13 807,469 2 632.888 473,977 1 735 550 3.440.357 2.209,527 CREDITORS: Amounls falllng due within one year 14 12.309,233) {4.453.3931 NET CURRENT ASSETS 1,131 124...J2.243,8.6.fj 13,684,394 10.316,059 TOTAL ASSETS LESS CURRENT LIA8ILITIE8 CREDITORS: Amoun1$ lalllng due after more ih8n one yéer 15 {4.368.756) 1634,3S71 NET ASSETS 9.315,638 9.fj81.702 FUND5 Unr8slrlcled lun(Is - oeneral 16 9,31S,638 9,681.702 9.315.638 9 681.702 Approved and 8ulhoris¢d lor i$$ue by Ihe Board of Governors on Iheir beh81f by: 30 Jul¥.2025 and signed on J.afomfield Chalrman of the 808rd ol Governors The accompanying notes lorm part of Ihese Ilnanclal slalemenls. Company Number.. 950339 33
CASHFLOW STATEMENT for the .ear ended 31 Jul 2024 CASH FLOW STATEMENT Notes 2024 2023 Nel cash inflow from operatirYJ adiviti8S 21 5,048,447 900.084 Cash fk)w$ from Invesllng activltles: Bank inleresl feceiv Proceeds from sale of fixed assets Payments to acquire fixed assets 25.327 24.174 (610,275) (715.585) Nel cash outnow Imm investing aclivitles 691411 Flnancing- Loans repaid Interest paid Payments made lo Ilnance leases (3.115,101) 1169.402) (281,6581 (183.462> Net cash outllow from financing actlvllies 183462 Increaselldeuease) in cash 897,338 25.208 Cash and cash beginnirvJ of the reportlng period 1,735,550 1,710.342 Cash and cash end ol Ihe reportlng perlod 2.632,888 1.735.550 34
Aldwickbury School Trust Limited NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 Jul 2024 ACCOUNTING POLICIES Aldwickbury S¢hool Trust Limlled is a company limited by guarantee with iegislered number 950339, inenrporalgd and dorniciled in England and Wales. Ils registered office is Aldwickbury School, Whealhampstead Road. Harpenden, AL5 1AD. 1.1 BASIS OF PREPARATION The finanrial slalemenls have been prepared in eco)rdance wllh the Financial Reporting Standard appllcable In the UK and Republic of Irel8nd {FRS 102> The Charitable Company is a public benefit enllly for the purposes ol FRS 102 and therefore the Charity also pPared ils financial staternenls in accordance with the Slalement of ReCmmended Pfadice applicable to charities prepariftg their accL)unts in accordance with Ihe Financial ReportSng Standard applicable in the UK and Republlc of Ireland {The FRS 102 Charilies SORP>. the Compani95 Acl 2006 and the ChafllS8s Act 2011. The financial slalements are prepared In sterling, which is Ihe functional curffjncy of the charity. Monetary afflounls in Ihese financial slalemenls are rounded to Ihe nearesl pound. Golng Concern and slgnificanl esllmales and judgements In assessing the going ujncern assumpllons the Governors lake into account all avallable information about Ihe lulure Ihal will affecl the way In which the school will be able lo malnlain ils level ol Income and Its operallonal capabllily whilsl remaining compelitlvo again$1 its peers. This Includes but Is rtol Ilmlted lo., Revlewing the $h Ilow projects'on ol a rolling 18 month period trom Ihe dale ol the finance and general purpose meeling, Review of pupil numbers and lulure forecasts, Sl8ffing review to meet pupil numbers, • Revlew of the 8pendin9 Strategy and budget 8ettlng, Assess economlcal. finandal and politl¢al dim8les on¢J al80 lulure areas ol ¢oncefn that may impact the school's operational abiltty. The Governor5 continually review the school's ability lo meet its fixed cosls and have periodically lormed worklng gfOUPS lo enhance lh8 slewar(ishlp of the school lo achieve Ils objectives. Dedsions regardlng Aldwlckburfs recruilment and staff slruclurlThJ focus on maxirnising polenllal savings. whilsl ensuring Ihe school is able lo m8Snlain the academic oulpul.. Finally, in recognlsing the requifement lo make declslons Ihal enable Ihe s¢hool lo mainlain ils academic performance, the Govefnors have allowed managemenl decistons Ihal offer greater Ileiibllity In the linanclal commllmenls and invèsimenls thé school makes. Thls has been demonstrated wilh the openlng of tho STEM Hub to exparmi resovrces and broaden Ihls part ol the wrriculum. Major investments in the school's tangible structure such as the Sports Hall Climbing Wall and P-Prep Sunshade canopy benefiis pupil developmenl and allows inclusive and engaging learnlng. In the vlew ol the Govemors. no assumptlons conceinln9 the future or estimatlon uncertainly affectlng assets or liabililles al the balance sheel dale are likely lo resull In a material adjuslmenl lo Iheir caTryin9 amounts in the next financial year, nor wlll il affect the School's ability lo meet Ils ongoing obligations for Ihe followirrfJ 12 months from Ihe dale these accounls have been slgned. The following a¢xounllng policies have been applled consi51enlly In dealing with ifems which are considered material in relation to the School's financial statements. 35
Aldwickbury School Trust Limited NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 Jul . 2024 1.2 COMPANY LIMITED BY GUAFL4NTEE The School is a Public Benelil Enlily registered as a charily in England artd Wales {charily number.. 311059) and a cnmpany limited by guarantee (company number.. 950339). 1.3 FIXED ASSETS Deprec4alion Deprecialion is provlded on all tangible fixe(l assets, other Ihan freahold land. at rales calculated lo write off the costs less esiim8te¢J residual value ol each assgt. by equal annual inslalmenls, over Iheir expecled useful lives whlch ar8 consldered to be.. Assets cosling in eX$S of £1,000 are ¢apilalised. Freehold building$ and Furnilure, fixlures and equipment Compulor equipment 50 years 5 yèars 3 years Flnance Cosls Flnance Costs Incurred whlch are directly allflbutabl• lo the con$lrucllon of flxed assets are capllallsed over Ihe period ol conslfuclion and depreclated in the Stalemenl of Flnancial Activities over Ihe useful life ol Ihe assét, 1.4 VALUE AOOEO TAX Value added lax Is not recoverable and Is Iherelore induded In Ihe expenses 10 whlch il relates.. 1.5 DONATIONS Donations received for the general purpose of the school ore credited to the school's 9eneral lund. Donations subkct10 5peciflc wlshes of Ihe Oonors are carrled lo a relevanl reslrlcled fund. 1.6 INCOMING RESOURCES All incxlming resourcAs are included in the Stslemenl ol Financlal Athivilies (SOFA) when the school is legally eniilled lo the Income and Ihe amounl can be ouaniffled wllh reasonable accura¢y. School Fees that have been recelved prlor lo the year end, and whlch relale lo activities in subsequent years, are Irealed as deferred income in the year of receipl and are released In Ihe relevant period Ihereafler. 1.7 RESOURCES EXPENDED All expenditure Is accounled for on an accfuals basis and has been elassified under headings Ihal aggregate all costs relaled lo the category. Where costs cannot be directly atlribuled lo particular headin9s Ihey have been allocated to activities on a percentage basis con5151ent wilh use ol the resources. Cosls of raising lunds are those inrred in seeking volunlary conlribulions and do not include Ihe costs ol disseminating Inlormallon in support of the charilable activitles. Direct S1$ relale lo staff costs and are allribulable lo specifi¢ aclivilles. Support fA)sls are those costs Incurfed in support ol empendilure on the objects of the school. Governan cos15 are those incurred in connecllon with governing of the school and compliance wilh conslilulional and slalulory reqU1Ments.: 1.8 FINANCIAL INSTRUMENTS Basic financaal inslrumenls are inilially recognised at Irartsadion value and 5vbsequenlly measured al amortised with Ihe exceplion of investments which are held al fair value. Financial assels held al amortised cost comprise cash at bank and in hand. logether with trade and other debtors. Cash al bank and in hand is defined as all cash held In inslanl access bank a¢couniS and used as worklng capilal. Financial Ilabilllies hdd al amortised )st cL>mprise all crediiors except social security and other taxes and provisions. Assels and liabilities held in foreign currency are translated lo GBP al the balance sheet dale al an appropriale year enil exchange raie. 36
NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 Jul .2024 1.9 PENSION COSTS The school historically contnijuted to th8 Teachers. Pension Scheme on behall of eligible teaching Stoff during the year under revlew. The school exlled th¢ scheme in January 2023. The school ¢onlributes towards a group personal pension scheme for Ihe other ellgible employees. The afflount charged lo the Statement of Finanaal Activities for all schemes is the CA)ntilbullons payable in tho year. 1.10 LEASES Annual rentsis are tharged to the Slalemenl ol Finanual Activities on a straighl line basis over the lease lerni. Where assets are financed by fin8nc4 leases and hire purchase agreements the assets are included In th8 Balance Sheet al cosl less depreclalion In accordan wilh the school's nomal accounllng pollcy, The prosonl value of lulure renlals is shown a$ a liabillly. 1.11 FUND ACCOUNTING Where Ihe school fecelves funds which 8re restricted in their usage. they are dlsdosed as restricted fund5. The sch¢)ol also earmarks all funds for sel purposes and these are da55ed as desrgnaled lunds. 1.12 CHARITABLE STATUS The Company is reglstered as a ¢harity. regislralion number 311059. and In c4nsequence Is exempl Irom laxaiton on Income arlslng Irom and expended on Its ¢harilable actlvllies:. 1.13 ACCOUNTING ESTIMATES AND JUDGEMENTS In the application ol the accounting policies, Govemors are requlred lo fftake ludgemenl, eslim818s. and assumpllons about the carryln9 value of assels and liabllltl83 that are not readlly apparenl from olher sources. The eslifflales and underlying assumpllons are based on historical experfjence and other faclor5 that ale consl¢ered lo be felevanl. Aclual resulls may dlffer fforn these esllmaies. The esllmates and undertylng assumplions are reviewed on an on.golng basls. Revlslons lo accounllng esllmales are recognised In the perlod in whlch the estimate is revised rf Ihe revlsion affects onty that perlod. or In the period of the revision and lulure periods if Ihe revislon affected ¢urTenl and luture period$. Crltlcal ludg•m•nts Uselul economic Iiv8S The annual deprec4allon charge for property. plant and equipment is senslllve to Chan In the esllmated useful economic lives and resldual values of the assels. The useful ecx)nomic lives and fesidual values are re• assessed annually, They are amended when necessary to renecl curfenl eslimales. based on technolo9l¢al advancement. lulure inveslmenls. economic ulilisalion and the physical C(dI110n of Ihe assets. See note 12 for the carryin9 amounl of the properly, plant and equipment and note 1.3 lor the uselul economic Ilves for eath class of assel. 37
Aldwickbury School Trust Limited NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 Jul _ 2024 2 FEE INCOME The School's activrties ara carried out within the UK. The school's fee inCme comprised: 2024 2023 Gross fees Less.. Dlscounls 6,965,823 (173,957) 6.449,190 {198.808) 0,791866 6.250.382 3 OTHER EDUCATIONAL INCOME 2024 2023 Extr8 curricular lessons a wraparound care Registration lees SurKlry fees 733,858 9,617 50,739 821,435 9.525 54.707 794,214 685,667 4 OTHER TRADING INCOME 2024 2023 Other Income 49.490 37.604 49,490 37,604 5 INVESTMENT INCOME 2024 2023 Inieresl re¢aved 25,327 24.174 25,327 24.174 6 DONATIONS AND GRANTS 2024 2023 Donations and grfls 26,921 32,365 26,921 32,365 38
Aldwickbury School Trust Limited NOTES TO THE FINANCIAL STATEMENTS for Ihe ear ended 31 Jul 2024 7 EXPENDITURE la) Costs of Ralslnp Funds Staff (osls (nole 91 Total 2024 Other Dopreci8lion Flnancing costs 169.402 169,402 Total Costs of Ralslng Funds 169,402. Charltsble expendlture Stsff cost5 (note 9) Total 2024 Other DeprecAalion Teachlng Welfare Pfemlses and Eslales Adminislratlon Governanc 3.781.820 418.083 293,688 630,5ee 426.975 220.600 794.705 741,$62 43.093 4,188.795 63B,683 1,642,320 1,372,128 43.093 553,949 Total Charltable Expendltur• 5,104.135 2 226,935 553,949 7,885,019 Total Expended 5.104.135 2,396,337 553,949 8 OS4,421 Costs of Ralslng Fund• Staff cosis (nole 9) Total 2023 Other Depreoation Finandng costs 183.462 183,462 Total Costs of Ral8lng FurKI8 183462 183462 Ch•rltabl• •xp•ndllur• Slaff costs (nole 9) Total 2023 Other Depreeialion Reslaled Teachlng Wejfare Premises and Eslales Adminislralion Governance 3.417.598 376.827 282.544 608,971 354,485 211,326 644.981 485.694 27,047 3,772.083 588,153 1,345,260 1.094,665 27.047 417.735 Total Ch•fltabl• Exp•ndlturn 4.685 940 1.723 533 417.735 6,827,208 Total Expended 4.685,940. 1.906.995 417.735 7.010.670
NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 Jul 2024 7 EXPENDITURE (bl Other Governancé Costs Include: 2024 2023 - Audilors, remuneration current year - Audilors, remuneration Pfior year under accwal - Other Audltofs remuneralion 28,418 10,440 2,310 22.466 4,581 2024 2023 Ic) Admlnlstratlon Costs Restated Salaries Nalional Insurance Pension Cosls Olher staff cosls Subscrtplions Leases IT support Office support ry)sls Markets'ng and advertising Legal and Professional Fees Other Adminislralion Cosls 538,494 51.194 40,878 41,957 10,950 217,642 95,419 51,706 69,gSS 83.721 170.212 527.849 48.580 34.542 46,401 53.677 24,417 92,987 49,985 71,268 71.583 75,376 1372.128. 1094,665 STAFF COSTS 2024 2023 Reslaieo 3,798,586 359.251 528.103 Wages 8nd sa18ries Social security cosls Other penslon fA)sts 4,156,176 394,839 553,120 4685940. The average monlhly number ol employees during ihe year was as follows; 2024 No. 83 2023 No. 79 40 Academic NonaAcademl¢ 127 119 The number of employees £60,000 in the year was as lollows.. 2024 2023 £60,000 - £70.0 £70,001- £80,OfXI £80.001- £90.OCrt) £90,001- £100.CKJO £100,001- £110,00 Pension contributions for the year amounted to £73,463 12023: £47,166) for the above ernOYeeS, into defined contribution pension scheme. 40
NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 .Jul 2024 9 GOVERNORS REMUNERATION AND BENEFITS There were no Governors. remuneiallon or other benefits for the year ended 31 July 2024 nof lor the year ended 31 July 2023. Travel and training expenses 01 £435 (2023.. £228) for 1 govefnor were paid by Ihe charity dufin9 the year. Key rnanagemenl personnel include Ihe Govenors and Ihe senior execullves whith aro made up of the Headmaster, Bursary and Iouf additional members of Ihe Senior Management Team. The total pay and benefits received by key management personnel were £593.786 {2Q23.' £559.460). 10 PENSIONS The penston charge for the year Includes contribullons payable lo a Group Personal Penslon Scheme with Royal London kn leaching staff of £455,209 {2023.' £445.3671 and al the year end £39.075 (2023.. £35,073) was accrued In respe of conlribulSons lo Ihls Scheme. The Sthool partlclpales In a Slandard Lrfe P8ryJonal Penslon Scheme for ils eliglble rvjn-leaching slaff. The pension ¢hArg8 for the year indudes contribulions payable lo Standard Lil• of £97,910 (2023.. £82,738) and al the year-end £8.291 (2023 - £7.219) was accrued in respect ol conlribub'ons lo Ihis scheme, 11 NET INCOME FOR THE YEAR 2024 2023 Nel inc¥Jme 1$ slated aftor charging: Depreclallon ol tsnglblo fixed assels Lease rentals- other 553.949 217,042 417.735 24,417 41
Aldwickbury School Trust Limited NOTES TO THE FINANCIAL STATEMENTS .for th8 ear ended 31 Jul 2024 12 TANGIBLE FIXED ASSETS Plant Flxlures Freefrold Property Motor Vehidas Equipment FltlirvJs Total Cost.. AI 1 Au9USt 2023 Additions Oisposals 15,469.119 297.000 (148.500) 100.736 4.906 (4,222) 1,992,568 590,027 (309.897) 54,441 17,616.864 891.933 (506.8721 <44.253> Al 31 July 2024 15.817,619 101.420 2.272.698 10.188 18 001,925 Dèprecialion.. Al 1 August 2023 Charge for year Dlsposals 3,130,091 311,865 95.420 5,069 (4,221) 1.776,987 226,508 (103,252) 54,441 5.056,939 543,442 1151,726) (44,253) At 31 July 2024 3.441.956 96.268 1.900,243 10,188 5,448,655 . Nel book value.. At 31 July 2024 12.175.663 5,152 372,455 12.553 270. AI 1 Au9usI 2023 12 339 028. 215581 .-12 559 925 The net carrylng valve of tangible fixed a$Jols includ9¥ £281,659 {2023: £NIII In respect of asset8 held undor finance leases or hire purchase rntract8. The depreciation charge in respect ol such assets amounted to £NII. 12023: £Nil). 13 DEBTORS 2024 2023 Fees and extras Prepayments and accrued income 573,318 234.151 112,666 361,311 47 14 CREDITORS Amounts f8111ng due wlthln one year.. L08ns Trade ¢redilors Taxatlon and soclal security cost$ Fees in advance and fee dep05ils Olher Credllors Ac¢ruals 2024 2023 28,970 47,788 107,616 1,343,818 235.002 548,039 3,099,000 119,605 92.507 473,400 41,909 626,972 2 309 233 .4 453 393 Deferred Income.. 2024 2023 Brought lorwards Released in year Recelved In y*ar 473,400 {473,400) 1,343,818 384.716 {384,716) 473,4011 Carrled lor4vards 1,343,818 473,400 Deferred income relates 10 schools fees and trips recelved in advance for the following term. 42
Aldwickbury School Trust Limited NOTES TO THE FINANCIAL STATEMENTS for the e.ar ended 31 Jul 2024 15 CREOITORS DUE AFTER ONE YEAR 2024 2023 Amounls falling due afier moro Ihan ono year.. Bank and other loan Ainounls payab.le under financelgases S.cliool fee deposits Fees In advance 1.962.035 133.551 373,250 1,899,920 249,857 384.$00 4 368 756 2024 2023 Movemanl on loans In one ytaf or less 8olween Qftè 8nd Iwo yeo'rs. 86tween iwo and fiv•',years 28.971 28.988 1,933,047 3.099.000 249.857 1989.006 3.346.857 Finance Leases In one year or less Between one and years Between two and Ilve yeais 85,212 83,352 ,218,843 The financ lease ¢rediior represents 4 leases held for IT devices which c4)ver a perfod ol up lo 5 years. The School's loan balances 0$ al 31 July 2024 consisl OP. A loan 01 £1,000,000 was drawn down Irom Barclays ÈLC. In 2023 to r• finonce thè G'ytnlSport$ Hall bulld. of which the iemaining b818nce ai the rep.orting.d8te Is £990,9'32.38. A loan of £765,250 was Jrown down fiom Barcl8y3 PLC in. 2023.to 81s0 r• Ilnonce Ihe Bymlsports H811 build. of wIIiGh thè rern3lning'balan¢e al the reportin9.dale IS £748,216. .An ibn5"ecured loan facilily from a p'rivatè Indlvidual of £249,857 14Va$ drawn'down in.2015 in order lo fund lh• iennls court. and cilckéi nel relurbishrneril. Th¢ Capilal 1s.lo be repaid al Ihe end.ol 8. 10 year period, logethet wilh the ihlg.re$l. ivhlch aCGrues on 8 slr8ighl line basis 812%: The., lolal amouni oulsiandlng al Ih'e year end, Including g¢¢fued Inlerest is £29'7.(190 (2023- £292,08Q>. 43
NOTES TO THE FINANCIAL STATEMENTS for the.. é"a'r ended 31 Jul 2024 16 STATEMENT OF FUNDS Al l August 2023 Al 31 July 2024 Income Expendllurg Unrestricted funds.. Genwal reselve 9,681,702 7,688.357 18.054,4211 9,315.638 Tolol lunds 9.fj81.702 7.688,357 (8,054.421) 9,315,638 Al l August 2022 Al 31 July 2023 Inwne Expondllurè Unreslrlcled lunds: General reserve 9.882,180 7,030.192 (7,010,873) 9.881,702 Total lunds 9,662.180 7,030.192 (7,010,673) 9,681,702 17 ANALYS18 OF NÉT ASSETS 8ETWEÉN FUNDS Unreslricled lunds 2024 Total Tangible fixed assets Current assets Current liabilities Long term liabilili08 12,553.270 12.S53,270 3.440,357 3,440.357 12.309,233) 12.309,233) (4.368,756) {4.368,756J Tolal net assels 9315.638 9.315 638 Vnreslilcled lunds 2023 Tolal Tarvjible fixe(l assets Currenl assets Current liabilitie5 Long lemi liabililies 12,559.925 12.559,925 2.209.527 2.209,527 (4.453,3931 14.453,393) (634.3571 (624,357) Total nel assels ,.9.68.1,702, 9 681- 702.
NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31 Jul .2024 18 COMMITMENTS UNDER OPERATING LEASES Al 31 July 2024. the company hati oulslanding cofflrnllments lor future mlnimum lease paymanls urKler non- canG8llable operallng leases,.;wh'lch ¢all due as follows:. 2024 Plant & Machlnory 2024 Offlc• equlpment 2023 Plani & Machlnery 2023 Offi equlpmenl Due within one year Oue beiween tr¥0 and fi¥è.y.eafS Ouo afleT more than five.years 200.905 200.905 418,553 51,292 48.498 70,029 164,320 164.320 492.960 63.036 63.036 151,873 '.820 363 19 RELATEO PARTIES nsley a Partners 'The oarlnershlp,, ol wh'iclt.oiie governor li a thariag!n9, paTtner."was r.elaSned-Io',Pfovide suTh8ying an'd,'proleoli. ,rnanagemenl soTric6s in relallon lo the p,lannin'g'.'applicalion ari'd projec!',mafiag'o'menl lo'r,'the new.sports tya.11! and rnainlengncé lalliljes. .F.ee$ lol'a115ng £15,300,; Indudirio VAT'.h8ve been Pald to: the. company l?Q23: £.9;'4861; wilh £nll oulslandiD'g al the year-end <202.3.. £nil)'. All Iransaclions were done'so al arm'5 len9lh. I 20 CAPITAL COMMITMENTS Al the year end, there was a eomiTillrriènt ol £nll '(2023'. £97,500), relatlng lo plannln9 bulldln9 worf¢s lo tho sthool. Capllal cnrrimllmenis under finante'leases havti been dis"¢losed in nole 12. 21 NOTes TO THE CASHFLOW STATEMENT 2024 2023 Reixintllialion of.'operating result lo nel ¢ash inflow from operalin9 activllié5' Nel movement In funds DepreatiOn Bank interest recoived Interest payable Profill{Loss) on sale of FSxed Assels IncreasellDecrea5el In uedilors <ln¢reaseYDecrease in debtors 1366,064) 543.442 125.327) 169.402 355,146 4.705,340 1333.492) 19,522 417.735 124,174) 183.462 545,542 {242,0031 5 048 447.. 900 084 45