2022-08-31-accounts

BEECHWOOD PARK SCHOOL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] AUGUST 2022

Company registered number: 00820476 Charity number: 311068

MOORE KINGSTON SMITH LLP

4 Victoria Square St Albans Hertfordshire AL1 3TF

BEECHWOOD PARK SCHOOL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] AUGUST 2022

CONTENTS

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BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS, OFFICERS AND ADVISERS

YEAR ENDED 31[ST] AUGUST 2022

GOVERNORS, DIRECTORS AND CHARITY TRUSTEES

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OFFICERS

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Principal Address and Registered Office

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Auditors

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Legal Advisors

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BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

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REFERENCE AND ADMINISTRATIVE INFORMATION

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STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

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Governing Body

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Recruitment and training of Governors

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HRXV /

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

Organisational Management

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HRXV 0

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

ScRUVc KV_Zc DVRUVcdYZa LVR^+

Remuneration

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OBJECTS, AIMS AND OBJECTIVES

Charitable Objects

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Mission

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Values

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Objectives

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HRXV 1

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

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• ! 9 T]VRc) dZ^a]V R_U VWWVTeZgV ^R_RXV^V_e decfTefcV TRaRS]V W ^R\Z_X eZ^V]j UVTZdZ_d R_U R]]TReZ_X _VTVddRcj cVdfcTVd Raac`acZReV]j) R_U

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Strategies to achieve primary objectives

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• ! LYV KTY`] YRd R decfTefcVU SZV__ZR] :HK KeRWW HcWVddZ_R] <VgV]a^V_e JVgZVh8

• ! LYV KTY] T`_eZ_fVd e` Z_gVde Z_ Zed WRTZ]ZeZVd) W`c ViR^a]V) cVWfcSZdY^V_e `W eYV <L h`c\dY`a R_U deRWW c^ R]_X hZeY _f^Vcfd T]Rddc`^d R_U Uc^ZecZVd) R_U cV_gReZ_X R_U Z^acgZ_X eYV Xcf_Ud8

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Public Benefit

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• ! :fcdRcj acgZdZ_

• ! ;YRcZeRS]V XZgZ_X

• ! DTR] T^^f_Zej ]Z_\d R_U aRce_VcdYZad ! HcgZdZ_ `W WRTZ]ZeZVd R_U dVcgZTVd

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HRXV 2

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

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LVRTYZ_X deRWW cVTVZgV R UZdTf_e Wc R]] TYZ]UcV_ ReeV_UZ_X+

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Reserves

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Investments

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Employment

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HRXV 3

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

LYV KTY] ^R\Vd V^a]`jVVd RhRcV `W eYV WZ_R_TZR] R_U VT`_`^ZT aVcW`c^R_TV `W eYV KTY]+ ;^^f_ZTReZ hZeY V^a]jVVd T_eZ_fVd eYcfXY _c^R] ]VRUVcdYZa R_U ^R_RXV^V_e TYR__V]d Z R gRcZVej W Wc^d Z_T]fUZ_X hVV]j UVaRce^V_eR] R_U hY]V*deRWW ^VVeZ_Xd R_U R]d eYcfXY ViTVaeZ_R] TYR__V]d eRaacZdV deRWWW TfccV_e ZddfVd+

KeRWW ^VVe hZeY ?gVc_cd gVc dfaaVc acZc eeYV DV_e LVc^ >f]] ?gVc_Z_X :`Uj ^VVeZ_X+

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STRATEGIC REPORT

Achievements and Performance

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LYV bfR]Zej W eYV afaZ]dq RTRUV^ZT R_UeYVc RTYZVgV^V_ed Zd ViTV]]V_e+

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• HfaZ]d RcV T_WZUV_e R_U RceZTf]ReV T^^f_ZTRe`cd+

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• HfaZ]d RcV ViTVaeZ_R] T]]RScRecd+

• HfaZ]dq SVYRgZ`fc Zd ViV^a]Rcj+

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Admissions

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Academic

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HRXV 4

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

• fceYVc RTRUV^ZT RTYZVgV^V_ed Z_T]fUVU7

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Co-Curricular

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• ! FVh <ZcVTecW Kace RaaZ_eVU W`c KVaeV^SVc /-//+

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Pastoral

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HRXV 5

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

LYV SRcUZ_X eVR^ cR_ R_ ViTV]]V_e acXcR^^V Wc SRcUVcd R_U T_eZ_fVU e UVgV]a eYV SRcUZ_X WRTZ]ZeZVd+ LYV @fdVaRcV_ed ^RZ_eRZ_VU R Wf]] SRcUZ_X @`fdV+

QVRc 5 afaZ]d %La >c^Vcd& T_eZ_fV e dVV\ eYV aZ_Z_d W jf_XVc afaZ]d R_U T^^f_ZTReV eYVZc gZVhd eYcfXY eYV >U ;`^^ZeeVV R_U eYV KTY] >`cf^+

LYV ;ReVcZ_X ER_RXVc T_eZ_fVd e UV]ZgVc fedeR_UZ_X TReVcZ_X acgZdZ_) eR\Z_X Z_e T_dZUVcReZ_ eYV afaZ]dq gZVhd+

Technology

LYV KTY`] TeZ_fVU eUVgV]a Zed eVTY]XZTR] Z_WcRdecfTefcV R_U TfccZTf]f^ Z_ eYV W]]hZ_X hRjd7

• ! FVh ]Raead Wc eYV <L hc\dYa8

• ! FVh]j UcRWeVU G_]Z_V KRWVej H`]ZTj R_U 9MHd8

• ! LYV UVgV]a^V_eW R :cZ_X Q`fc Gh_ <VgZTV decReVXj8

• ! 9 _Vh H9 djdeV^8

• ! KVcgVc faXcRUVd+

Buildings and Estates

LYV KTY] T`_eZ_fVU e` UVgV]`a Zed SfZ]UZ_Xd R_U VdeReVd d` Rd e` ac`gZUV eYV gVcj SVde V_gZc`_^V_e e` UV]ZgVc eYV KTY]qd EZddZ_+ Hc[VTed Wc eYV /-/.*// jVRc Z_T]fUVU7 dfSdeR_eZR] cVWfcSZdY^V_eW eYV deRWW c^) <L h`c\dY`a) R_U dVgVcR] T]Rddc^d R_U Uc^ZecZVd8 cVa]RTZ_X a]RjXcf_Ud R_U aReYd8 R_U gRcZfd cVWfcSZdY^V_e R_U cVaRZc ac[VTed VddV_eZR] e eYV d^eY `aVcReZ`_ `W eYV KTY]+

Financial Review

LYV KTY`]qd _Ve Z_T^V Wc eYV jVRc Wc^ aVcReZ_d R^f_eVU e l144)/-5 %/-/.7 l3/)-.0&+ LYV ?gVc_cd RcV a]VRdVU eYRgV XV_VcReVU R dfca]fd Wc eYV jVRc+

LYV a]ZTjW daV_UZ_X eYV dfca]fd XV_VcReVU _ cVWfcSZdY^V_e R_U UVgV]a^V_e W WRTZ]ZeZVd YRd T_eZ_fVU R_U eYV KTY`]qd TRaZeR] ViaV_UZefcV Wc eYV jVRc hRd l03-)605+

<fV eR dZX_ZWZTR_e Z_TcVRdV Z_ eYV cVbfZcVU TecZSfeZ_d Wc eYV UVWZ_VU SV_VWZe dVTeZ_W eYV A_UVaV_UV_e KTY]dq HV_dZ`_ KTYV^V) eYV KTY] YV]U R aV_dZ_ T_df]eReZ_ hZeY R d^R]] _f^SVcW V^a]jVVd UfcZ_X eYV Kf^^Vc eVc^) R_U _ ]_XVc YRd RTeZgV ^V^SVcd Z_ eYV UVWZ_VU SV_VWZe dVTeZ+

LYV KTY`]$d SR]R_TV dYVVe Rd UVeRZ]VU aRXV .5 dYhd R gVcj dReZdWRTecj adZeZ Re eYV jVRc V_U+

LYV cVdf]ed Wc eYV jVRc RcV dYh_ Z_ eYV deReV^V_e W WZ_R_TZR] RTeZgZeZVd_ aRXV .4+

cVV cVdVcgVd) eYRe Zd eYdV Wf_Ud _e eZVU fa Z_ WZiVU RddVed) UVdZX_ReVU R_U cVdecZTeVU Wf_Ud) RcV adZeZgV R_U TccVda_UZ_X]j eYV KTY``]qd SR]R_TV dYVVe dYhd _Ve TfccV_e RddVed Re eYV jVRc*V_U+ LYVdV Z_T]fUV l1.3)42- W cVWf_URS]V aRcV_edq UVadZed YV]U Sj eYV dTY]+ LYV KTY]qd WfefcV a]R_d hZ]] SV Wf_UVU Sj eYV cV^RZ_Z_X _Ve RddVed+

LeR] f_cVdecZTeVU cVdVcgVd Re eYV jVRc*V_U R^f_eVU el2)05-)4/0+ LYVdV YRgV SVV_ XV_VcReVUgVc eYV jVRcd Sj eYV KTY]) Z_ `cUVc e` ^RZ_eRZ_ SfZ]UZ_Xd R_U deR_URcUd `W VUfTReZ`_+ LYZd dfca]fd T`f]U `_]j SV cVR]ZdVU Sj UZda`dZ_X `W WZiVU RddVed fdVU Z_ eYV cf__Z_X `W eYV KTY]+

<VdZX_ReVU Wf_Ud RcV TcVReVU Sj eYV ?gVc_cd Sj dVeeZ_X RdZUV c !VRc^Rc\Z_X! Wf_Udfe W eYV f_cVdecZTeVU Wf_Ud Wc eYV daVTZWZT afca`dVd+

F_VW eYV gRcZfd Wf_Ud hVcV Z_ UVWZTZe Re eYV jVRc*V_Uc Re R_j eZ^V UfcZ_X eYV jVRc+

HRXV 6

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

Key Performance Indicators

LYV KTY] ^R_RXVd Zed aVcW`c^R_TV eYc`fXY R dVcZVd `W \Vj aVcW`c^R_TV Z_UZTRe`cd eYRe RcV S`eY WZ_R_TZR] R_U _`_*WZ_R_TZR] Z_ _RefcV+ LYV WZ_R_TZR] ^VRdfcVd ViZde e` V_dfcV eYRe eYV KTY] T_eZ_fVd e SV RS]V e^VVe Zed T^^Ze^V_ed R_U eSV RS]V e Wf_U eYV WRTZ]ZeZVd R_U cVdfcTVd cVbfZcVU e cf_ eYV KTY]+ LYV _`_*WZ_R_TZR] ^VRdfcVd ViZde e` ^`_Ze`c eYV VUfTReZ`_R] `feT`^Vd `W eYV KTY] R_U eV_dfcV eYRe eYV KTY``] ^VVed Zed VUfTReZ_R] S[VTeZgVd+ LYV cVdf]ed Wc eYV jVRc RcV7

	2022	2021
HfaZ] _f^SVcd %ViT]fUZ_X FfcdVcj&	2-.	2-1
FfcdVcj Ff^SVcd	2-	2/
JReZW =iaV_UZefcV eA_T^V	61+2"	66+/"
JReZW =iaV_UZefcV eA_T^V SVWcV UVacVTZReZ_	6-+3"	61+5"
;RdY cVdVcgVd Rd " W Z_T^V	/3+2"	//+5"
" W afaZ]d aRddZ_X V_ecR_TV ViR^Z_ReZ_d eWZcde TYZTV dTY``]	.--"	.--"
Ff^SVc W dTY]RcdYZad Re VZeYVc ..( `c .0(	..	..

PRINCIPAL RISKS AND UNCERTAINTIES

LYV >f]] ?gVc_Z_X :Uj R__fR]]j cVgZVhd eYV KTY]qd JZd\ JVXZdeVc+ LYV XV_VcZT T`_ec`]d fdVU Sj eYV KTY] e` ^Z_Z^ZdV cZd\ Z_T]fUV7

• ! <VeRZ]VU eVc^d W cVWVcV_TV eXVeYVc hZeY Wc^R] RXV_URd Wc ;^^ZeeVV R_U :RcU RTeZgZej8

• ! KecReVXZT UVgV]`a^V_e a]R__Z_X) cVgZVhVU R__fR]]j8

• ! ;^acVYV_dZgV SfUXVeZ_X R_U ^R_RXV^V_e RTTf_eZ_X8

• ! =deRS]ZdYVU cXR_ZdReZ_R] decfTefcVd R_U ]Z_Vd W cVaceZ_X8

• ! >c^R] hcZeeV_ a]ZTZVd Z_T]fUZ_X T]VRc RfeYcZdReZ_ R_U Raac`gR] ]VgV]d8 R_U

• ! KRWVXfRcUZ_X R_U cVTcfZe^V_e ac`TVUfcVd Rd cVbfZcVU Sj ]Rh+

Other Significant Risks

KZX_ZWZTR_e YZXY ]Z\V]ZY`U cZd\d R_U eYVZc ^ZeZXReZ_ RcV7

• ! 9 UVTcVRdV Z_ afaZ] c]] UfV e YZXY Z_eVcVde cReVd) eYV Z_TcVRdZ_X TdeW ]ZgZ_X) cVTVddZ_ R_U aeV_eZR] a]ZeZTR] TYR_XVd m R_ Z_eV_dZWjZ_XW eYV ^Rc\VeZ_X VWWce) R_U R cVgZVhW R]] T`ded+

• ! 9 UVTcVRdV Z_ afaZ] c]] UfV e R_eYVc ^R[c ReZ_R] V^VcXV_Tj dfTY Rd eYV ;gZU*.6 aR_UV^ZT m acgZdZ WfedeR_UZ_X cV^eV ]VRc_Z_X WRTZ]ZeZVd) R_U R T^acVYV_dZgV acTVdd e dfaace eYdV aRcV_ed hY` WZ_U eYV^dV]gVd Z_ aRceZTf]Rc WZ_R_TZR] UZWWZTf]ej+

• ! >RZ]fcV eUVgV]a R_U ^RZ_eRZ_ Z_WcRdecfTefcV * R__fR] ;9H=P acXcR^^V) UVgV]a^V_e R_U ^RZ_eV_R_TV a]R_d+

• ! @VR]eY R_U KRWVej A_TZUV_ed m VieVc_R] RfUZed) Z_eVc_R] TYVT\d R_U ecRZ_Z_X+

• ! >RZ]fcV eReecRTe YZXY bfR]Zej deRWW m dfZeRS]V eVc^d R_U T_UZeZ_d R_U dR]RcZVd R_U acgZdZ_W YZXY*bfR]Zej cVd`fcTVd+

• ! >fceYVc Z_TcVRdVd Z_ V^a]jVc T_ecZSfeZ_d e eYV LVRTYVcdq HV_dZ_ KTYV^V hZ]] dfSdeR_eZR]]j RWWVTe eYV SfUXVe dfca]fd f_]Vdd R dfZeRS]V R]eVc_ReZgV TR_ SV acgZUVU+

• ! LYV eYcVRe W eYV RS]ZeZ_W :fdZ_Vdd JReVd JV]ZVW R_U eYVc TYRcZeRS]V eRi cV]ZVWd) ZW Z^adVU) hZ]] R]d` dfSdeR_eZR]]j RWWVTe eYV SfUXVe dfca]fd+

LYV ?gVc_cd RcV R]dRhRcVW a]ZeZTR] R_U V_gZc_^V_eR] cZd\d R_U aRj UfV cVXRcU eeYVdV hYV_ cVRTYZ_X UVTZdZ_d R_U cVgZVhZ_X eYV decfTefcV W eYV KTY``] WZ_R_TZR]]j R_UeYVchZdV+

Going Concern

LYV KTY`] hRd bfZT\ e Z^a]V^V_e RUUZeZ_R] WZ_R_TZR] R_UaVcReZ_R] dRWVXfRcUd Z_ cVdadV eeYV ;gZU* .6 aR_UV^ZT) R_U fc dec_X cVdVcgVd adZeZ R_U ]RT\ W ScchZ_X XZgVd fd R cVRd_RS]V a]ReWc^ e

HRXV .-

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

hZeYdeR_U eYV TfccV_e V_VcXj Tde Z_TcVRdVd R_UeYVc a]ZeZTR] R_U VT^ZT f_TVceRZ_eZVd+ LYV ?gVccd RcV dReZdWZVU eYRe RUVbfReV cVdfcTVd hZ]] SV RgRZ]RS]V eYcfXY WfefcV TRdY W]hd e^VVe ]ZRSZ]ZeZVd Rd eYVj WR]] UfV+ LYV ?gVc_cd U e WcVdVV R_j ^R[c TYR_XVd Z_ eYV KTY``]$d RTeZgZeZVd+ ;_dZUVcZ_X eYV RSgV R_U RWeVc cVgZVhZ_X eYV KTY``]qd WcVTRded R_U ac[VTeZ_d) eYV ?gVc_cd YRgV R cVRd_RS]V ViaVTeReZ eYRe eYV TYRcZej YRd RUVbfReV cVdfcTVd e T_eZ_fV Z_aVcReZ_R] ViZdeV_TV Wc eYV WcVdVVRS]V WfefcV R_U eYRe Ze Zd eYVcVWcV RaacacZReV e acVaRcV eYV RTTf_ed R XZ_X T_TVc SRdZd+

Plans for Future Periods

LYV ?gVc_cd RcV cVTcfZeZ_X R _Vh @VRU e]VRU eYV KTY``]) e dfTTVVU =U :R]Wfc hY Zd eR\Z_X fa R _Vh ade Wc^ BR_fRcj /-/0+

LYV :VVTYhU HRc\ KTY] <VgV]a^V_e H]R_) hYZTY TgVcd eYV WRTZ]ZeZVd RgRZ]RS]V Wc eVRTYZ_X Rd hV]] Rd eYV eVRTYZ_X R_U dfaace deRWW) T_eZ_fVd e SV cVgZVhVU Sj eYV KDL R_U ?gVc_Z_X :Uj+ LYZd a]R_ YRd eYV S[VTeZgVW T_eZ_fZ_X Z^acgV^V_e Z_ eYV VUfTReZ_W TYZ]UcV_ Re eYV KTY]+ LYVcV Zd R_ `_X`Z_X acZ`cZeZdReZ`_ ac`TVdd hYZTY R]]`hd eYV KTY] T_eZ_fR]]j e Z_gVde hYV_ TRdY cVdVcgVd,SfUXVed R]]h+ LYVcV Zd R]d eSV R aRceZTf]Rc WTfd _ Tde cVUfTeZ_) Z_TcVRdVU cVgV_fV Wc^ _*VUfTReZ_R] RTeZgZeZVd R_U Wf_UZ_X Wc SfcdRcZVd+ 9 ^R[c Z_ZeZReZgV ` dfdeRZ_RSZ]Zej Zd a]R__VU+

STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES

LYV ?gVc_cd RcV R]deYV UZcVTecd f_UVc T`^aR_j ]Rh+

LYV ?gVc_cd RcV cVbfZcVU f_UVc T^aR_j ]Rh e acVaRcV WZ_R_TZR] deReV^V_ed Wc VRTY WZ_R_TZR] jVRc hYZTY XZgV R ecfV R_U WRZc gZVhW eYV deReV W RWWRZcdW eYV T^aR_j R_UW eYV dfca]fd c UVWZTZeW eYV T^aR_j Wc eYRe aVcZU+ A_ acVaRcZ_X eYdV WZ_R_TZR] deReV^V_ed eYV ?gVc_cd RcV cVbfZcVU e`7

• ! dV]VTe dfZeRS]V RTTf_eZ_X a]ZTZVd R_U Raa]j eYV^ T`_dZdeV_e]j8

• ! SdVcgV eYV ^VeYUd R_U acZ_TZa]Vd Z_ eYV ;YRcZeZVd KGJH8

• ! ^R\V cVRd`_RS]V R_U acfUV_e [fUXV^V_ed R_U VdeZ^ReVd8

• ! deReV hYVeYVc Raa]ZTRS]V MC 9TTf_eZ_X KeR_URcUd YRgV SVV_ W]]hVU) dfS[VTe e R_j ^ReVcZR] UVaRcefcVd UZdT]`dVU R_U Via]RZ_VU Z_ eYV WZ_R_TZR] deReV^V_ed8 R_U

• ! acVaRcV eYV WZ_R_TZR] deReV^V_ed _ eYV XZ_X T_TVc_ SRdZd f_]Vdd Ze Zd Z_RaacacZReV eacVdf^V eYRe eYV T^aR_j hZ]] T`eZ_fV Z SfdZ_Vdd+

LYV ?gVc_cd RcV R]dcVda_dZS]V W`c7

• ! \VVaZ_X acaVc RTTf_eZ_X cVTcUd hYZTY UZdT]dV hZeY cVRd_RS]V RTTfcRTj Re R_j eZ^V eYV WZ_R_TZR] adZeZ_W eYV T^aR_j R_U V_RS]V eYV ?gVc_cd e V_dfcV eYRe eYV WZ_R_TZR] deReV^V_ed T^a]j hZeY eYV ;^aR_ZVd 9Te /--3 R_U ;YRcZeZVd 9Te /-..8

• ! dRWVXfRcUZ_X eYV T`^aR_jqd RddVed8 R_U

• ! eR\Z_X cVRd_RS]V deVad Wc eYV acVgV_eZ_ R_U UVeVTeZ_ W WcRfU R_UeYVc ZccVXf]RcZeZVd+

Statement of disclosure to the auditor

A_dWRc Rd VRTYW eYV ?gVc_cd) Rd UZcVTecdW eYV TYRcZeRS]V T^aR_j) Re eYV UReVW RaacgR]W eYZd cVace Zd RhRcV eYVcV Zd _ cV]VgR_e RfUZe Z_Wc^ReZ %Z_Wc^ReZ VVUVU Sj eYV T^aR_jqd RfUZec Z T__VTeZ hZeY acVaRcZ_X eYV RfUZe cVace&W hYZTY eYV T^aR_jqd RfUZec Zd f_RhRcV+ =RTY ^V^SVc W eYV ?gVc_Z_X :Uj YRd eR\V_ R]] eYV deVad eYRe YVc dYV dYf]U YRgV eR\V_ Rd R ^V^SVcW eYV ?gVc_Z_X :Uj Z cUVc e ^R\V YZ^dV]W c YVcdV]W RhRcVW eYV cV]VgR_e RfUZe Z_Wc^ReZ R_U eVdeRS]ZdY eYRe eYV T^aR_jqd RfUZec Zd RhRcVW eYRe Z_Wc^ReZ+

HRXV ..

BEECHWOOD PARK SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2022

LYZd 9__fR] JVace hRd RaacgVU Sj eYV ?gVc_Z_X :Uj W eYV KTY``] 2 <VTV^SVc /-// Z_T]fUZ_X) Z eYVZc TRaRTZej Rd T^aR_j UZcVTecd) RaacgZ_X eYV <ZcVTecdq R_U KecReVXZT JVaced TeRZ_VU eYVcVZ) R_U dZX_VU `_ Zed SVYR]W Sj7

+++++++++++++++++++++++++++++++++++++ FVZ] KTcRXX ?gVc_c

HRXV ./

BEECHWOOD PARK SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEECHWOOD PARK SCHOOL FOR THE YEAR ENDED 31ST AUGUST 2022 Opinion We have audited the financial statements of Beechwood Park School Limited I'the company. I for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The finanaal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland. Iunited Kingdom Generally Accepted Accounting Practice). In our oplnion the financlal statements: give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resource5 and application of resources, including its incorne and expenditure, for the year then ended; have been properly prepared in accordance wlth Unlted Klngdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirement5 of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with Internatlonal Standards on Auditing IUKI11SAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance wlth the ethical requlrements that are relevant to our audlt of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audlt evldence we have obtained is sufficient and appropriate to provide a basis for our oplnlon. Conclusions relating to going concem In auditing the financlal statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financlal statements Is appropriate. Based on the work we have ￿rformed, we have not identified any material uncertaintles relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companys ability to continue as a going concern for a period of at least twelve months from when the tinancial Statements are authorised for issue. Our resp(￿57b71it1es and the responsibllitles of the trustees with respect to going concern are described In the relevant sectlons of this report. Other information The other information comprises the information included in the annual rewrt, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of a55urance conclusion thereon. Our re5Fonsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statement5 or our knowledge obtained in the course of the audit or othetwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there Is a material misstatement in the financial statement5 themselves. If, based on the work we have Page 13

BEECHWOOD PARK SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEECHWOOD PARK SCHOOL FOR THE YEAR ENDED 31ST AUGUST 2022 performed, we conclude that there is a material misstaternent of this other information, we are required to report that fact. We have nothing to report In thls regard. Opinion5 on other matters prescribed by the Companie5 Act 2006 In our opinion, based on the work undertaken in the course of the audit: the Information given In the trustees. annual report for the financlal year for which the financial staternents are prepared 15 consistent with the financial statements., and trustees. annual report have been prepared in accordance wth applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustee5' annual report. We have nothing to report In respect of the following matters where the Companies Act 2006 reouires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for 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 returns. or certain di5closure5 of trustees, rernuneration specified by law are not Made., or we have not received all the information and explanations we require for our audit. Responsibilities of trustee5 As explained more fully In the trustees. responslbllities statement set out on page 11, the trustees Iwho are also the dlrectors of the charitable company for the purposes of company lawl are responsible for the preparation of the tinancial Statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine 15 necessary to enable the preparation of tinancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financlal statements, the trustees are responsible for assessing the charitable company'5 ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operation5, or have no realistic alternative but to do so. Auditor's Respon51bilities for the audit of the financial statement5 Our objectives are to obtaln reasonable assurance about whether the flnandal statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditor'5 report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A5 part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Page 14

BEECHWOOD PARK SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEECHWOOD PARK SCHOOL FOR THE YEAR ENDED 31ST AUGUST 2022 Identlfy and assess the risks of material misstatement of the finanual statements, whether due to f raud or error, design and perform audit procedures responsive to those risks, and obtain 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, mi5representation5, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purwses of expresslng an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting pollcles used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a matenal uncertainty exi5t5 related to events or conditions that may cast significant doubt on the charitable company'5 ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue a5 a going concern. Evaluate the overall presentatlon, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the UnderI￿n8 transactions and events in a manner that achieve5 fair presentation. We communicate with those charged with governance regarding, among other matter5, the planned scope and timing of the audit and slgnificant audit flndings, including any significant deficiencies In internal (￿troL that we identify durln8 our audit. Explanation as to what extent the audlt Wa5 con51dered capable of detectinq irreqularitie5, including fraud Irregularltles, includlng fraud, are instances of non-compliance vAth laws and regulations. We design procedures in line with our reswnslbilities, outlined aty)ve, to detect material misstatements In respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularSties, including fraud Is detailed below. The objectives of our audit in Te5pect of fraud, are. to identify and asse55 the ri5k5 of material mi55tatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to f raud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. Our approach wa5 as follows: We obtained an understanding of the legal and regulatory requirement5 applicable to the charitable company and considered that the most significant are the Cornpanie5 Act 2006, the Charitie5 Act 2011, the Charity SORP, and UK financial reporting standards a5 Issued by the Financial Reporting Councll. Page 15

BEECHWOOD PARK SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEECHWOOD PARK SCHOOL FOR THE YEAR ENDED 31ST AUGUST 2022 We obtalned an understandlng of how the charitable company complies wlth these requirements by discussions with management and those charged with governance. We a55essed the risk of material mi55tatement of the financial Statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. We inquired of management and those charged with governance as to any known instances of non-clynpliance or suspected non-compllance wlth laws and regulatlons. Based on this understsnding, we designed speafic appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtalnlng additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instance5 of non-compliance with law5 and regulations that are not c105ely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as f raud may involve deliberate concealment by, for example. forgery or intentional misrepresentations, or through collusion. Use of our report This report is made solely to the charltable company's members, as a ty)dy, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company 5 members as a body, for our audit work, for this report, or for the opinions we have formed. Shivani Kothari (Senior Statutory Auditor) for and on behalf of M(K)re Kingston Smith LLP, Statutory Auditor 4 Victoria Square St Albans Hertfordshire ALI 3TF Page 16

Beechwood Park School Limited

STATEMENT OF FINANCIAL ACTIVITIES

(including the income and expenditure statement) for the year ended 31 August 2022

----- Start of picture text -----
Unrestricted / Restated
Designated Restricted Total Total
Notes funds funds 2022 2021
£ £ £ £
INCOME FROM:
Charitable Activities
School fees 3 8,191,054 - 8,191,054 7,434,202
Other educational income 4 456,918 - 456,918 337,967
Other income
Other trading income 5 29,689 - 29,689 13,521
Investments
Investment Income 6 1,807 - 1,807 337
Voluntary sources
Donations and grants 7 9,204 - 9,204 111,388
Total income and endowments 8,688,672 - 8,688,672 7,897,415
EXPENDITURE ON:
Costs of raising funds
Other trading costs 13,367 - 13,367 8,333
Other non-educational costs - - - 27,975
Charitable activities
Education 8,198,097 - 8,198,097 7,799,094
Total expenditure 8 8,211,464 - 8,211,464 7,835,402
Net income/(expenditure) 477,208 - 477,208 62,013
Restatement of prior year 25 - - - (78,947)
Transfer between funds - - - -
Net movement in funds 477,208 - 477,208 (16,934)
Fund balances brought forward 9,714,428 - 9,714,428 9,731,362
Fund balances carried forward 18, 19 10,191,636 - 10,191,636 9,714,428
----- End of picture text -----

The statement of financial activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The accompanying notes form part of these financial statements.

Page 17

Beechwood Park School Limited

BALANCE SHEET

as at 31 August 2022

----- Start of picture text -----
Restated
Notes 2022 2021
£ £
FIXED ASSETS
Tangible assets 13 8,577,245 8,555,847
8,577,245 8,555,847
CURRENT ASSETS
Debtors 14 227,958 140,960
Cash at bank and in hand 3,145,377 2,162,428
3,373,335 2,303,388
CREDITORS: Amounts falling due within one year 15 (1,095,716) (529,700)
NET CURRENT ASSETS 2,277,619 1,773,688
TOTAL ASSETS LESS CURRENT LIABILITIES 10,854,864 10,329,535
CREDITORS: Amounts falling due after more than one year 16 (365,750) (373,750)
Provisions 17 (297,478) (241,357)
NET ASSETS 10,191,636 9,714,428
FUNDS
Unrestricted funds – general 18 5,380,723 4,800,843
Unrestricted funds - designated 18 9,000 -
Revaluation reserve 18 4,801,913 4,913,585
10,191,636 9,714,428
----- End of picture text -----

Approved and authorised for issue by the Full Governing Body on 5 December 2022 and signed on their behalf by:

Neil Scragg Governor

The accompanying notes form part of these financial statements. Company Number: 00820476

Page 18

Beechwood Park School Limited

CASHFLOW STATEMENT

for the year ended 31 August 2022

----- Start of picture text -----
Restated
CASH FLOW STATEMENT Notes 2022 2021
£ £
Net cash inflow from operating activities 24 1,342,080 (437,686)
Cash flows from investing activities:
Bank interest received 1,807 337
Proceeds from sale of fixed assets - 7,329
Payments to acquire fixed assets (360,938) (243,842)
Net cash outflow from investing activities (359,131) (236,176)
Increase/(decrease) in cash 982,949 (673,862)
Cash and cash equivalents at the
beginning of the reporting period 2,162,428 2,836,290
Cash and cash equivalents at the
end of the reporting period 3,145,377 2,162,428
----- End of picture text -----

Page 19

Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

• 1 ACCOUNTING POLICIES

Beechwood Park School Limited is a company limited by guarantee with registered number 00820476, incorporated and domiciled in England and Wales. Its registered office is Beechwood Park School, Markyate, St Albans, Herts, AL3 8AW.

1.1 BASIS OF PREPARATION

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

These financial statements are prepared on the going concern basis, under the historical cost convention as modified by the revaluation of investments and in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. The principal accounting policies, which have been applied consistently throughout the year, are set out below.

The 2021 figures have been restated to remove the BPSPA Funds where the school acts as custodian of the assets (see note 25).

1.2 GOING CONCERN

The governors have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the School to continue as a going concern. The governors have made this assessment for a period of at least one year from the date of approval of the financial statements.

In particular the governors have considered and challenged the School’s forecasts and projections, including cash flows, pupil projections and the likely impact of pressures on fee income. Whilst the economic outlook remains uncertain which could have an impact on future pupil numbers, after making enquiries the detailed review undertaken by the governors and the ongoing measures they have put in place have led them to conclude that there is a reasonable expectation that the School has adequate resources to continue in operational existence and meet its ongoing liabilities for the foreseeable future.

The School therefore continues to adopt the going concern basis in preparing its financial statements.

1.3 COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee, the guarantors at the present time being the Governors, to the extent of £1 each.

1.4 FEES RECEIVABLE AND SIMILAR INCOME Fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the school.

1.5 DONATIONS AND FUND ACCOUNTING Donations received for the general purposes of the school are included as unrestricted funds. Donations restricted by the wishes of the donor or the terms of an appeal are taken to restricted funds. Donations required to be retained as capital in accordance with the donor’s wishes are accounted for as endowments – permanent or expendable according to the nature of the restriction.

1.6 EXPENDITURE Expenditure is allocated to expense headings, which aggregate all costs relating to the category either on a direct cost basis, or apportioned according to time spent. The irrecoverable element of VAT is included with the item of expense to which it relates.

All costs associated with the provision of education are allocated to Charitable Expenditure. Only the costs directly associated with, or incurred solely in, Raising Funds are allocated to this category.

Governance Costs comprise the costs of running the charity, including strategic planning for future developments, external audit, legal advice and a proportion of staff costs relating to compliance with constitutional and statutory requirements, such as the costs of Governors meetings.

1.7 TEACHING COSTS

Supplies of games equipment, books, stationery and sundry materials are written off when the expenditure is incurred.

1.8 FIXED ASSETS AND DEPRECIATION All fixed assets are used in direct furtherance of the school’s objectives. Fixed assets are included in these financial statements at their original cost less depreciation and accumulated impairment losses provided to date.

Assets that cost less than £1,000 are not capitalised and are written off in the year of purchase.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the costs less estimated residual value of each asset, by equal annual instalments, over their expected useful lives which are considered to be:

Freehold buildings and improvements -50 years Fixtures and fittings -3 - 10 years Vehicles -5 years Computers -3 years

Page 20

Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

1.9 PENSIONS

Full-time and part-time teaching staff employed under a contract of service are eligible to contribute to the Teachers’ Pension Scheme (TPS). The TPS, a statutory, contributory, final salary scheme is administered by Capita Teachers’ Pensions on behalf of the Department for Education.

The school also pays contributions into a Occupational Personal Pension Scheme for Support staff with The Pensions Trust. The Scheme is a defined contribution pension scheme.

In addition the school is a member of The Pension Trust defined benefit scheme, which is closed to new members. Any payments to the scheme represent contributions towards the deficit for existing members remaining in the scheme.

The assets of the Scheme are held separately from those of the School in an independently administered fund. The Pension Scheme charge represents contributions payable by the school in accordance with the rules of the Scheme.

1.10 LEASES AND HIRE PURCHASE CONTRACTS

Rentals paid under operating leases are charged to the Statement of Financial Activities evenly over the period of the lease.

1.11 CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.12 FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. See notes 14, 15 and 16 for the debtor and creditor notes.

1.13 TAXATION

The company is a registered charity and is exempt from taxation as afforded by Section 505 ICTA 1988.

1.14 EMPLOYEE BENEFITS The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15 FUNDS

Unresticted funds are available for general use of the school.

Where fixed assets are donated to the School they are allocated to a restricted reserve at their value at the time of the gift. The reserve is then released to general funds over the asset's useful economic life.

• 2 KEY ESTIMATES & JUDGEMENTS

In the application of the company's accounting policies, the governing body is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In the opinion of the Governors, the estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Critical judgements

Useful economic lives

The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Pension Schemes

The School contributes to the Teacher's Pension Scheme at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The School also contributes to a defined contribution scheme for non-teaching staff at a minimum of 5% of annual basic pay. Contributions to both schemes are charged in the SOFA as they become payable in accordance with the rules of the scheme.

Page 21

Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

3 FEE INCOME The School’s activities are carried out within the UK. The school's fee income comprised: Gross fees Less: Discounts Less: Covid discounts Less: Scholarships and bursaries 4 OTHER EDUCATIONAL INCOME Income derived from other school activities Registration fees Fees in lieu of notice Minibus income 5 OTHER TRADING INCOME Rent and lettings 6 INVESTMENT INCOME Interest received 7 DONATIONS AND GRANTS Donations and gifts Government grants	2022 £ 8,503,448 (268,148) - (44,246) 8,191,054 2022 £ 367,863 10,000 2,500 76,555 456,918 2022 £ 29,689 29,689 2022 £ 1,807 1,807 2022 £ 9,204 - 9,204	2021 £ 7,978,181 (283,470) (182,720) (77,789) 7,434,202 2021 £ 279,212 9,200 6,000 43,555 337,967 2021 £ 13,521 13,521 2021 £ 337 337 2021 £ 35,730 75,658 111,388

Included within the above is an amount of £nil (2021: £nil) which relates to restricted income.

Page 22

Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

8 EXPENDITURE (a) Costs of Raising Funds Trading costs Other non-education costs Total Costs of Raising Funds Charitable expenditure Teaching Welfare Premises and Estates Finance and Administration Governance Total Charitable Expenditure Total Expended	£ - - - £ 4,440,751 148,510 341,144 598,391 - 5,528,796 5,528,796 Staff costs (note 9) Staff costs (note 9)	Other £ 13,367 - 13,367 Other £ 474,839 646,671 796,833 381,107 31,344 2,330,794 2,344,161	Depreciation £ - - - Depreciation £ - - 338,507 - - 338,507 338,507	Total 2022 £ 13,367 - 13,367 Total 2022 £ 4,915,590 795,181 1,476,484 979,498 31,344 8,198,097 8,211,464

Included within £8,211,464 is an amount of £nil (2021: £nil) relating to restricted expenditure.

Costs of Raising Funds Trading costs Other non-education costs Total Costs of Raising Funds Charitable expenditure Teaching Welfare Premises and Estates Finance and Administration Governance Total Charitable Expenditure Total Expended (b) Other Governance Costs include: Auditors' remuneration - Audit Fees - under provision from previous year - Accountancy Fees - Other Auditors remuneration Governors' Training	£ - - - £ 4,297,860 70,731 341,738 585,308 7,432 5,303,069 5,303,069 Staff costs (note 9) Staff costs (note 9)	Other £ 8,333 27,975 36,308 Other £ 190,615 561,850 1,076,861 298,329 18,987 2,146,642 2,182,950	Depreciation £ - - - Depreciation £ - - 349,383 - - 349,383 349,383 2022 £ 15,320 4,664 2,290 - 9,070	Total 2021 £ 8,333 27,975 36,308 Total 2021 £ 4,488,475 632,581 1,767,982 883,637 26,419 7,799,094 7,835,402 2021 £ 14,640 426 2,376 1,332 213

Page 23

Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

9 STAFF COSTS Wages and salaries Social security costs Other pension costs Other staff costs Movement in pension provision The average monthly number of employees during the year was as follows: Teaching Non-teaching The number of employees whose emoluments amounted to over £60,000 in the year was as follows: £60,000 - £70,000 £70,000 - £80,000 £80,001 - £90,000 £110,001 - £120,000	2022 £ 4,257,609 436,904 757,127 74,667 2,489 5,528,796 2022 No. 109 35 144 2022 No. 2 1 1 1 5	2021 £ 4,141,606 399,088 760,101 - 2,274 5,303,069 2021 No. 105 39 144 2021 No. 2 1 1 1 5

Pension contributions for the year amounted to £84,206 (2021: £81,480) for the above employees.

The School considers its key management personnel as the Head, Bursar and three Deputies. The total employment benefits including employer pension contributions of the key management personnel were £549,789 (2021: £525,598).

10 GOVERNORS REMUNERATION AND BENEFITS

There were £9,070 (2021: £213) of expenses relating to training, meetings and other costs reimbursed to Governors' during the year.

Page 24

Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

11 PENSIONS

Teachers' Pension

The School participates in the Teachers' Pension Scheme ('the TPS') for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £654,583 (2021: £639,748) and at the year end £71,555 (2021: £73,060) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. Following a public consultation, the Government have accepted three key proposals recommended by the Government Actuary, and are aiming to implement these changes in time for the 2020 valuations.

The 2016 cost control valuations have since been completed in January 2022, and the results indicated that there would be no changes to benefits or member contributions required. The results of the cost cap valuation are not used to set the employer contribution rate, and HM Treasury has confirmed that any changes to the employer contribution rate resulting from the 2020 valuations will take effect in April 2024.

Until the 2020 valuation is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly, no provision for any additional past benefit pension costs is included in these financial statements.

The support staff are members of The Pension Trust Scheme which is a defined contribution scheme; the school contributes between 5% and 24.2% dependent on the position of the employee in the school and the employees contribute between 3% and 6%. The pension charge for the year includes contributions payable of £102,544 (2021: £120,353) and at the year end £6,094 (2021: £nil) was included in creditors.

Page 25

Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

• 11 PENSIONS (continued)

TPT Retirement Solutions - Independent Schools' Pension Scheme

The company participates in the scheme, a multi-employer scheme which provides benefits to some 66 non-associated employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out with an effective date of 30 September 2020. This actuarial valuation was certified on 22 December 2021 and showed assets of £201.1m, liabilities of £256.3m and a deficit of £55.2m. To eliminate this funding shortfall, the trustees and the participating employers have agreed that additional contributions will be paid, in combination from all employers, to the scheme as follows:

Deficit contributions From 1 September 2022 to 30 June 2032: £ 2,687,000 per annum (payable monthly and increasing by 3% on each 1st September)

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £149.4m, liabilities of £187.6m and a deficit of £38.2m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions From 1 September 2019 to 30 April 2030: £ 2,387,537 per annum (payable monthly and increasing by 3% on each 1st September)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present Values of Provision Present value of provision Reconciliation of opening and closing provisions Provision at start of period Unwinding of the discount factor (interest expense) Deficit contribution paid Remeasurements - impact of any change in assumptions Remeasurements - amendments to the contribution schedule Provision at end of period	31 August 2022 (£s) 297,478	31 August 2021 (£s) 241,357 Period Ending 31 August 2022 (£s) 241,357 2,489 (26,011) (49,383) 129,026 297,478	31 August 2020 (£s) 266,349 Period Ending 31 August 2021 (£s) 266,349 2,274 (25,253) (2,013) - 241,357	31 August 2019 (£s) 285,279

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Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

11 PENSIONS (continued)

Income and Expenditure Impact
	Period Ending	Period Ending
	31 August 2022	31 August	2021
	(£s)	(£s)
Interest expense	2,489		2,274
Remeasurements - impact of any change in assumptions	(49,383)	(2,013)
Remeasurements - amendments to the contribution schedule	129,026		-

*includes defined contribution schemes and future service contributions (i.e. excluding any deficit reduction payments) to defined benefit schemes which are treated as defined contribution schemes.

Assumptions

		31 August 2022	31 August 2021	31 August 2020	31 August 2019
		% per annum	% per annum	% per annum	% per annum
Rate	of discount	4.31	1.09	0.90	1.10

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

Deficits Contributions Schedule
	31 August 2022	31 August 2021	31 August 2020	31 August 2019
	(£s)	(£s)	(£s)	(£s)
Year 1	32,584	26,011	25,253	24,518
Year 2	33,561	26,791	26,011	25,253
Year 3	34,568	27,595	26,791	26,011
Year 4	35,605	28,423	27,595	26,791
Year 5	36,673	29,275	28,423	27,595
Year 6	37,774	30,154	29,275	28,423
Year 7	38,907	31,058	30,154	29,275
Year 8	40,074	31,990	31,058	30,154
Year 9	41,276	21,967	31,990	31,058
Year 10	35,429	-	21,967	31,990
Year 11	-	-	-	21,967

12 NET INCOME FOR THE YEAR

Net income is stated after charging: Depreciation of tangible fixed assets Operating lease rentals

2022	2021
£	£
338,507	349,383
27,877	14,142

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Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

13 TANGIBLE FIXED ASSETS

Cost: At 1 September 2021 Additions Disposals Transfer At 31 August 2022 Depreciation: At 1 September 2021 Charge for year Disposals At 31 August 2022 Net book value: At 31 August 2022 At 1 September 2021 14 DEBTORS Fees and extras Other debtors Prepayments and accrued income 15 CREDITORS Amounts falling due within one year: Trade creditors Taxation and social security costs Fee Deposits Fees in advance Other creditors Accruals Deferred income: Brought forwards Released in year Received in year Carried forwards	Freehold Property £ 9,455,070 90,726 - - 9,545,796 1,215,322 230,917 - 1,446,239 8,099,557 8,239,748	Fixtures & Fittings £ 1,198,610 261,452 (1,548) - 1,458,514 910,463 102,823 (515) 1,012,771 445,743 288,147	Motor Vehicles £ 32,444 8,760 - - 41,204 4,492 4,767 - 9,259 31,945 27,952 2022 £ 23,456 18,971 185,531 227,958 2022 £ 215,119 113,651 51,000 422,362 84,769 208,815 1,095,716 2022 £ 24,619 (24,619) 422,362 422,362	Total £ 10,686,124 360,938 (1,548) - 11,045,514 2,130,277 338,507 (515) 2,468,269 8,577,245 8,555,847 Restated 2021 £ 23,878 19,291 97,791 140,960 Restated 2021 £ 164,789 117,335 38,750 24,619 69,971 114,236 529,700 2021 £ 931,157 (931,157) 24,619 24,619

Deferred income relates to schools fees received in advance for the following term.

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Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

16 CREDITORS DUE AFTER ONE YEAR

Amounts falling due after more than one year: School fee deposits 17 PROVISIONS FOR LIABILITIES Pension provision At 1 September 2021 Increase in provision At 31 August 2022	2022 £ 365,750 365,750 2022 £ 241,357 56,121 297,478	2021 £ 373,750 373,750 2021 £ 266,349 (24,992) 241,357

The school recognises £297,478 (31 August 2021 £241,357) of pension provision on its Balance Sheet, in relation to the closed pension scheme. The provision is attributatble to TPT Retirement Solutions.

18 STATEMENT OF FUNDS

Unrestricted funds: General reserve Designated fund: BPSPA Revaluation reserve Total funds Unrestricted funds: General reserve Designated fund: BPSPA Restatement of BPSPA Fund Note 25 Revaluation reserve Total funds	£ 4,800,843 - 4,913,585 9,714,428 9,714,428 £ 4,588,285 117,820 - 5,025,257 9,731,362 9,731,362 At 1 September 2020 At 1 September 2021	Income £ 8,679,672 9,000 - 8,688,672 8,688,672 Income £ 7,880,852 16,563 - - 7,897,415 7,897,415	Expenditure £ (8,211,464) - - (8,211,464) (8,211,464) Expenditure £ (7,807,427) (27,975) - - (7,835,402) (7,835,402)	Transfer Between Funds £ 111,672 - (111,672) - - Transfer Between Funds £ 139,133 (27,461) - (111,672) - -	£ 5,380,723 9,000 4,801,913 10,191,636 10,191,636 Restated £ 4,800,843 78,947 (78,947) 4,913,585 9,714,428 9,714,428 At 31 August 2021 At 31 August 2022

The designated funds relate to donations made to the school or deposit donations which the school will use on development in future years.

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Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

19 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Current assets Current liabilities Long term liabilities Total net assets Tangible fixed assets Current assets Current liabilities Long term liabilities Total net assets	Unrestricted funds £ 3,775,332 3,364,335 (1,095,716) (663,228) 5,380,723 Unrestricted funds £ 3,642,262 2,303,388 (529,700) (615,107) 4,800,843	Designated funds £ - 9,000 - - 9,000 Designated funds £ - - - - -	Restricted funds £ - - - - - Restricted funds £ - - - - -	Revaluation reserve £ 4,801,913 - - - 4,801,913 Revaluation reserve £ 4,913,585 - - - 4,913,585	2022 Total £ 8,577,245 3,373,335 (1,095,716) (663,228) 10,191,636 Restated 2021 Total £ 8,555,847 2,303,388 (529,700) (615,107) 9,714,428

20 COMMITMENTS UNDER OPERATING LEASES

At 31 August 2022, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Due within one year Due between two and five years	2022 37,609 58,867 96,476	2021 14,142 17,120 31,262

21 RELATED PARTIES

Governors' liability insurance premium costs were incurred by the Company. The premium is included within the total cost of insurance and is not separately identifiable.

22 CONTROL

The school is under the control of the Governors who are the trustees under Charity Law and directors under Company Law.

23 CAPITAL COMMITMENTS

At the year end 31 August 2022, there was a capital commitment of £Nil relating to ongoing building works (2021: £Nil).

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Beechwood Park School Limited

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2022

24 NOTES TO THE CASHFLOW STATEMENT Reconciliation of operating result to net cash inflow from operating activities Net movement in funds Depreciation Bank interest received Profit/(Loss) on sale of Fixed Assets Increase/(Decrease) in creditors (Increase)/Decrease in debtors	2022 £ 477,208 338,507 (1,807) 1,033 614,137 (86,998) 1,342,080	Restated 2021 £ (16,934) 349,383 (337) 368,399 (1,179,653) 41,456 (437,686)

25 CUSTODIAN FUNDS

The school acts as custodian trustee to the BPSPA where it holds the bank accounts on their behalf. The school has no ownership or control over the accounts and simply manages the accounting transactions on behalf of the BPSPA committee. As a result the transactions relating to the BPSPA accounts do not form part of the School’s assets, income or expenditure in the reporting period.

The comparative figures have been restated to reflect the removal of BPSPA Funds where the school acts as custodian of the assets. The 2021 funds were £9,793,375, the restatement of funds totals £78,947 leaving the total restated funds at 31 August 2021 is £9,714,428.

The BPSPA will continue to support the school through donations in the forthcoming years and in 2022 made donations totalling £9,000.

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