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2020-08-31-accounts

Registered number: 00908266 Charity number: 311274

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the company, its Trustees and advisers 1
Trustees' report 2 - 13
Independent auditors' report on the financial statements 14 - 16
Statement of financial activities 17
Balance sheet 18 - 19
Statement of cash flows 20
Notes to the financial statements 21 - 40

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020

Trustees G G Able, Vice Chair
D E Brown
S L M Carter (resigned 29 November 2019)
The Earl Of Leicester, Chair
J E J N Giles
K Goodley
H Hammond (appointed 9 March 2020)
H M Lindsell
J Little
C Newbury (appointed 9 March 2020)
J F T Pallister
G Phillips (resigned 29 November 2019)
P D Ripley
G S Webster
Company registered
number
00908266
Charity registered
number
311274
Registered office
Beeston Hall, West Runton
Cromer
Norfolk
NR27 9NQ
Company secretary
S K Lubbock
Chair
The Earl of Leicester
Independent auditors
Larking Gowen LLP
Chartered Accountants
King Street House
15 Upper King Street
Norwich
NR3 1RB
Bankers
Lloyds Bank Plc
West Street
Cromer
NR27 9HZ
Solicitors
Eversheds LLP
Kett House
Station Road
Cambridge
CB1 2JY

Page 1

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees present their annual report together with the audited financial statements of the company for the 1 September 2019 to 31 August 2020. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the provisions of the Statement of Recommended Practice (FRS102) 'Accounting and Reporting by Charities' (SORP (FRS102)).

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The School's objects are the advancement of education, including the provision of boarding and/or day schooling for boys and girls between the ages of four and thirteen years.

The Governors have agreed to provide means-tested bursaries, as assessed by the School in line with its policy to assist children, over potentially a nine-year period, who would not otherwise be able to attend the School. The Governors agreed to offer limited scholarships to children on entry to the School at Year 3 but are continuing to offer them at Year 6.

The School is also responsible to this and future generations for the maintenance and upkeep of all land and buildings owned and used by the School.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Objectives and activities (continued)

b. Strategies for achieving objectives

c. Activities undertaken to achieve objectives

The school has continued to provide a broad, all-round education, through a well-planned curriculum balanced between academic, music, drama and sports and a wide variety of learning opportunities, to girls and boys aged between 4 and 13 years old. The aims and ethos of the school are rooted in activities designed to develop confidence in each child, within a Christian context, so that they are all well-prepared for the next stage of their education – predominately major senior schools in the country, such as Ampleforth, Bedales, Eton, Downe House, Framlingham, Gresham’s, Harrow, Norwich School, Oundle, Royal Hospital School Ipswich, Rugby, Stowe, Shrewsbury, Tudor Hall, Uppingham and Wycombe Abbey.

Page 3

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Objectives and activities (continued)

d. Social investment policies

The School’s policy of ensuring it is embedded into the community continues, with a range of local activities, involving local people, charities and institutions (examples below).

The School’s policy of inclusion and diversity is stated at Open Days, marketing events (such as the independent schools show in London) and often in prospective parent meetings. The Foundation and the Whitaker Trust were established to fund children otherwise unable to attend the school, the former (set up in 2017) has begun fully funding one child in their Beeston schooling.

The School has a policy of expanding its reach by appealing to non-local families through its academic offering alongside the outstanding location. To that effect a further family from Hong Kong has joined with continued enqueries from that location and from Spain.

The School put itself and boarding facilities at the disposal of the NHS Norfolk & Waveney Health & Care Partnership as a result of the COVID situation in April, but the accommodation considered unsuitable on account of it providing for children not adults.

The impact of these policies are:

i) that there is greater awareness of the school and its facilities; ii) children from other schools discover and learn through opportunities not otherwise open to them; iii) the local teaching bodies have access to and share professional advice and experience at Beeston; iv) sports and health benefits are shared amongst the local community, at no cost;

v) the pupils of Beeston enjoy a wider frame of reference and more integration with the local schools and understand the value of these partnerships.

e. Grant-making policies

The school is intent on offering the benefit of Beeston’s education as far as possible through the following awards at Year 6: Academic scholarships; All Rounder awards; Art, Music, DT and Sport scholarships; Clergy discounts; H M Forces discounts; Sibling discounts; means-tested bursaries to those meeting Bursary Committee criteria; Hardship awards for existing pupils.

f. Volunteers

The school is greatly appreciative and very much values the input of our volunteers who give up their time to come and help the school. This can often be from something as simple as hearing pupils read, assisting in art scholar workshops, providing support at sporting fixtures etc, to the committee of the Friends of Beeston (FoB’s) who help to organize social events for parents and children as well as supporting the school with its fundraising activities. The school takes its responsibilities to volunteers very seriously and all receive the appropriate training and induction. The school also ensures that the necessary safeguarding procedures are put in place and all volunteers have an enhanced Disclosure and Baring Service (DBS) check.

Page 4

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Objectives and activities (continued)

g. Main activities undertaken to further the company's purposes for the public benefit

The partnership work begun in 2018, published in Schoolstogether.org and the ISC annual census, has continued, with local maintained schools involved and an estimated 50 staff hours given.

We continue to build links with local schools and communities which is a central commitment to the school’s aims and our intention was to continue to offer the Beeston swimming pool on a weekly basis, with expert coaching staff and transport for local primary schools, throughout the summer term. A cross country competition and - once again- being the finishing post for the Norfolk 100km Ultramarathon were just planned events cancelled because of the pandemic.

A North Norfolk cluster group for EYFS and Key Stage 1 meets regularly, often at the school, and we continue to have primary schools visit for author visits and sports festivals.

We continue to offer the use of the nets in our sports hall to a local cricket club for pre-season training and occasional use of the cricket pitches for clubs to use for evening fixtures.

Our Astroturf is used on Saturday mornings in the season for the North Norfolk Hockey Club to undertake minis (ages 4 to 8) hockey training.

Fundraising for local and international charities is carried out by way of collections at school events such as music concerts, carol services and performances, alongside focused fund-raising activities such as dog walks and dressing up days are self- directed for the purpose of awareness- raising, as well as fund-raising.

The school continues to be part of the Assisted Boarding Scheme (formerly known as the Boarding Pathfinder Initiative) which provides support and stability for children and young people by placing them in boarding schools, thus preventing the need for them to be taken into care. In this way these young people can continue their education whilst maintaining contact with their families.

The school is working in partnership with Norfolk County Council for the shared support of adopted children at the school who have in place Education and Health Care Plans .

Page 5

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Objectives and activities (continued)

Achievements and performance

a. Main achievements of the company

The school successfully prepared pupils for their first choice of senior schools as follows: Framlingham, Gresham's, Oundle and Uppingham, with 65% of 2020 leavers achieving a scholarship or award.

The school roll was 146 pupils over the course of the year, with the five planned summer joiners (temporary or permanent) from overseas not taking up their places because of Covid-19.

Despite challenging market conditions, the school’s progress has been steady, with 30 pupils in the Pre-Prep, showing continued growth in this, the fourth year of operation.

Boarding numbers grew from 58 to 60 and were on track to have 70 boarders over the summer term, but again this was prevented by Covid-19, though the try-boarding numbers grew to 25 over the year.

b. Key performance indicators

The financial statements show that the school had an operating deficit of £279,083 for the year (2019 - £200,213) after charging depreciation of £133,571 (2019 - £137,719). The School has a clear goal to operate at a surplus, the Governors are confident that the development of the new Pre-Prep School and the strategic plans being developed in the medium term. In the immediate term, the school has some cash reserves, has no material bank debt (almost uniquely amongst its peers) and has unrestricted reserves of £2,135,284 (2019 - £2,220,028). The actual costs of running the school have fallen by £127,936 and, while annual cost per pupil has risen by £146 since 2018/19, bad debt has fallen to 1.06% of total fee income. Despite the success of Beeston's response to the pandemic (see below, financial Review Part (d)) and increase in roll, as a result of having no boarding in the summer term has had a significant impact on the school's income. To mitigate this the governing board opted to liquidate assets in the shape of two cottages, this has released approximately £400,000 capital. The school continued with capital and refurbishment plans with no drawing on government support beyond the furloughing of support and boarding staff via the coronavirus job retention scheme.

Additions to the infrastructure of the school have generally been funded out of retained surpluses and reserves.

Restricted funds relate to the Whitaker Trust and the Beeston Foundation, established to fund both bursaries and other general needs of the school. The Trustees’ policy in relation to the funds is to release a proportion of the income generated by these funds each year to fund bursaries as applied for by families and then approved by the trustees.

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BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Achievements and performance (continued)

c. Review of activities

Drama, art, sport and music have continued to flourish, and opportunities have been provided for all, including performances outside the school in public arenas. There were four drama productions across the age groups, one including all members of the prep school. Together with a number of music concerts and recitals, both formal and informal. Pupils have been given countless opportunities over the year to perform in public to support the school's avowed intention to 'let confidence flourish' (the school motto).

Musical events have increased in number and ambition, with ‘Meet the Instruments’ taking place each term (to help enroll pupils form Beeston and beyond) in music-making, and events elsewhere such as mass orchestra days at nearby senior schools or the choir singing in local churches.

Visiting speakers have added weight to the 'leavers' lectures’ initiative which has become a centrepoint of the year 8 programme, joined now by an expanded leavers programme, although this had to be somewhat restricted this year due to covid restrictions. We were however, able to provide a two-week on-line programme plus one week of onsite activities for the leavers programme. The co-curricular programme has been widened with the addition of skiing and surfing, with the latter being offered twice weekly on account of its growing popularity.

Since joining the All England Rugby’s Quilter Kids First programme, the school enjoyed its most successful rugby season in Michaelmas 2019 than for many years, with strong and committed 1st XIII and Colts sides, achieving creditable results, despite being the smallest school on the fixtures circuit. The U13 Girls were IAPS Quarter-Finalists and Girls’ Norfolk Schools Champions.

The senior netball side won 67% of their matches and the 2nd VII won 100% -reflecting great potential for the 2021 season. Bee Netball is England Netball’s new netball initiative for U11s which has been adopted at Beeston, alongside the traditional game. The U13 boys were Norfolk champions and won 87% of their hockey matches and competed in a number of regional and national events.

Naturally the impact on sporting activity of the pandemic and children being restricted to remote learning has been huge. It is important to note the disappointment of one of the strongest senior girls’ cohorts we have seen for many years, in both hockey and cricket, is shared by all. The cancellation of all IAPS regional and national events in the summer and Michaelmas of 2020 has further added to this. However, the sporting activity has remained creative and wide-reaching, with staff contributing daily challenges, enthusiastically met and recorded by pupils, to ensure physical activity and improving skills remained at the forefront of the children’s minds. The necessary expansion of the house competitions has ensured the key element of development in sport at this level – teamwork and competing with flexibility – has actually been strengthened.

Furthermore, the resurfacing of the Dean Courts (for tennis and netball), the refurbishment of the sports hall and the acquisition and preparation of new grass cricket nets has paved the way for a renewed impetus and improved provision, as sports once again are taken up as the school returns to a normal, on site timetable. Combined with the addition of an ex-Commonwealth games swimmer, the county’s leading tennis player (a performance coach) and the Fakenham Cricket Club professional, to the Beeston staff, has meant the development of sport at Beeston will continue to strengthen.

Forest School has now become a weekly feature of all junior classes to Year 5, with one member of staff holding accredited Forest School training.

The emphasis on all round provision of pastoral care has continued to been strengthened by the RULER programme, designed by Yale University, which has had particular impact during remote learning where the signaling of emotional wellbeing has been harder to achieve and relies on the ‘pointers’ of the mood meter and meta moments and widely used references to the RULER scheme. The recently appointed Head of Learning

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BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Achievements and performance (continued)

Support, who is a qualified – and widely experienced educational psychologist, is detailed to take a lead in this area which will continue to strengthen it and embed it at a time when the good mental health of children has never been more crucial.

The Beeston Foundation has continued to grow steadily, despite the planned spearheading of fund-raising being delayed by the pandemic, such that funds are in excess of £80,000. The year has seen the painting and refurbishment of the sports hall with updating of audio-visual facilities in this arena, alongside the resurfacing of the Dean Courts. The bedding in of a new school management system and the online learning resource, combined with the training for and adoption of Google Classroom as a teaching forum, in February 2020, meant the school had an agile and comprehensive response to the pandemic and lockdown.

The development of ICT equipment and provision has continued with the school now allotting 130 Chromebooks or Chrome bases to pupils, which has been a well-timed expansion, given the pandemic. Far more significant, though, has been the enormous leap forward in terms of ICT usage, delivered by a teaching staff who were sufficiently prepared such that remote learning began, very smoothly, on the 23rd March 2020, having been trialed for the preceding two weeks. Indeed, the parent body, and pupils, were nothing short of astonished by the level of provision that took place throughout the summer lockdown and subsequent times the school has been closed for pupils, with a high proportion of live lessons and daily interaction with individuals and classes, that has led to families joining because of this strength and commitment. The rolling programme of E-safety and online advice has continued with the input from local police and the national expert Karl Hopwood, speaking to staff, pupils and parents – and a rolling subscription to Parentzone. These, and the adoption of Google Classroom (and the Google Suite) for all teaching has enabled a safe space in which remote learning has taken place, with a system that is secure, can be monitored (through the Impero Safeguarding system and recording of lessons) and consistent for all.

The continued subscriptions to GL Assessment (CAT4 testing), to Planet BOFA, to the Mathletics and Spellodrome programmes as well as Century Tech software, have been joined by Atom Learning and the CEM Pre-test packages which have been useful additions in the wide-ranging armory devoted to the development of children’s skills, particularly regarding the Common Pre-test in year 6, now adopted by the majority of senior schools as a precursor to Common Entrance.

Marketing of this message has increased over the course of the year, with the headmaster appearing on webinars produced by agents in the Far East, as well as being one of eight prep schools nationally in a presentation put together by a London tutoring agency, focusing on rural boarding. In addition to this, the school launched its own You Tube channel and undertook a website redesign and refresh to better suit the changing requirements of potential users. The school's close community is one of continuing strength, fostering children's positive attitudes and their development as confident young people who understand and enjoy the opportunities they have in the outstanding location it occupies and the benefit of contributing to their community and this has meant the school’s best ‘marketing tools’ (satisfied parents) have had a material difference on the outlook.

Furthermore, in January 2020 the school underwent a scheduled (and expected) regulatory compliance inspection by the ISI. The school was judged to have met the required standards in all seven areas under scrutiny.

d. Factors relevant to achieve objectives

Please see all of the school’s activities detailed above.

Page 8

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Achievements and performance (continued)

e. Fundraising activities and income generation

The school continued with its fund-raising for charities, despite the key term (for school fetes, dog walks and other events) being spent at home. Over £2,600 was raised for the local charity (EACH) on the 2.6 Challenge and a similar sum again for the FoBs quiz and Christmas events.

Increasing the non-core income through further rental of the site during holiday time has unfortunately been curtailed this year with the covid restrictions but we hope to have this up and running again in the summer of 2021. The school acknowledges that whilst the provision of education is its core business, alternatives streams of income should be pursued in order to improve the business outcome and further to this a neighbouring caravanning and camping facility is wishing to lease playing fields for these purposes.

The planned round of friend-raising has continued in a limited way, prior to a more concerted fund-raising by governors in support of the Beeston Foundation.

f. Investment policy and performance

The restricted funds held by the Whitaker Trust are managed within the Barratt & Cooke Fund Portfolio Service. The value of these investments has dipped slightly during the year, very much in-line with the vagaries of the stock market as a whole. Some capital has also been released to cover the increasing number and value of support offered to students during the year. This was particularly relevant during the summer term when The Whitaker Trust stepped in to support a number of parents who were suffering financial hardship because of the pandemic restrictions.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

At present the School has free reserves of with a deficit of £165,102, being the unrestricted funds after deducting the net book value of fixed assets, however with the sale of the investment properties after the balance sheet date the free reserves will no longer be in deficit. It is the Governors' intention to build reserves wherever possible over the next few years.

c. Material investments policy

The school’s principal investment is in its land and buildings and other educational facilities. These are used to promote and implement the primary objectives of the company. The school continues to hold cash reserves which are lodged with Lloyds Bank Plc.

Page 9

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Financial review (continued)

d. Principal risks and uncertainties

Where the impact of Covid -19 and the global pandemic might have been cited as the principal risk and uncertainty for this year, the school did, in fact, build itself into what is arguably a stronger position than the previous year. Planning and foresight meant there was a smooth transition to remote learning that began on March 20th, after two weeks of ‘rehearsal’ with a very activie online input from staff over the April holiday and into the summer term. Combined with an enormous attention to detail for the phased return to school in June, including bespoke videos, the school’s remote provision was widely agreed as outstanding. An RS Academics survey of parents saw the parent body offer the highest possible satisfaction ratings - the author of the survey at RSA, overseeing the benchmarking of nearly 2000 surveys, indicated Beeston were 10-15 % points above the usual ‘positive feedback’. On this basis the school’s reputation has been powerfully enhanced and the effect of this has been the prospect of several local families from maintained schools, seeking a better school experience – even in the second lockdown – and at least seven new children due to arrive as a result of families relocating because of the ‘work from home’ revolution sparked by the pandemic. As a result, and with a boarding provision aligned to BSA Safe Boarding Charter and more comprehensive covid-secure measures the school is position extremely well to withstand any further covid-19 related impact. The ongoing improvement of facilities has effectively signaled a message that school has not so much remained on an even keel, through prudent management and committed staff, but is flourishing and continuing to strengthen and grow.

e. Financial risk management objectives and policies

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

f. Principal funding

Through fee income and site rental.

Structure, governance and management

a. Constitution

Beeston Hall School Trust Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Methods of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Page 10

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

A reorganisation of the timetable (to ensure longer lessons meant a less rushed school routine) has proven successful and been maintained. The appointment of a Head of Co-curricular has given rise to considerable improvements in the delivery and organization of the activities programme, with more planning and forethought. The management structure has undergone streamlining and change, with strategic aims of the school being undertaken by a Senior Leadership Team, comprising the Head, two Deputies and the Bursar. The division of responsibility between Deputy Head Pastoral and Deputy Head Academic for day-to-day running of the school has proven highly successful, [particularly with one of these taking on the immense necessary detail of covid-19 planning and the other showing flair in terms of developing and supporting all staff in their embracing of new technology, programmes and processes, with a very keen eye on quality assurances of the remote provision.

d. Policies adopted for the induction and training of Trustees

Two additional trustees were appointed during the year bringing our number of trustees up to our usual level. The Chair of Governors works closely with the Association of Governing Bodies of Independent Schools (AGBIS) regarding induction training and all Governors are issued with a copy of the AGBIS "Guidelines for Governors." Formal training sessions for Governors take place alongside regular Governors' meetings and regular visits to the school are made by individual governors.

e. Pay policy for key management personnel

A new pay and progression policy was introduced for all teaching staff from 1 September 2019 in an attempt to formalize the structure of staff remuneration and career development. This, in conjunction with a revised appraisal system, sets out the steps required for a teacher to progress through the Beeston pay scale, including those with leadership responsibilities. All support staff are paid in accordance with the support staff pay policy.

f. Related party relationships

A number of trustees are also parents at the school.

Page 11

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Plans for future periods

Development of effective use of the school management system continues with particular focus on the admissions and registration processes and the school is planning to take on an experienced senior school registrar to assist with this, in a part time role.

Review and re-planning of the reporting cycle to parents continues be considered, following extensive pupil and parent consultation, and as the ISAMS management system takes root and becomes known, building on the excellent responses to the Tapestry assessment and tracking system in the pre-prep.

Marketing and PR have become a focus, on the back of a flourishing social media presence during lockdown, such that there being a governor with this specialist experience will be attached to the marketing committee and driving forward a strategy of reinforcing key messages to the potential market of London parents (seeking to relocate) and to increase the links to overseas agents boarding, which began in September 2018 with the arrival of two Year 6 students from Hong Kong. Further links with mainland China agents and school groups will continue to be made. Links with nurseries and the launch of a cricket academy and a tennis academy within the school (based on the expertise within the school staff) are all tabled for the year ahead.

A governors’ development sub-committee is also planned to take forward dormant plans to refurbish and refresh the music school and surrounding areas, putting in train a scaled down version of the masterplan commissioned in 2018.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 12

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Larking Gowen LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

The Earl Of Leicester Chair Date:

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(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED

Opinion

We have audited the financial statements of Beeston Hall School Trust Limited (the 'charitable company') for the year ended 31 August 2020 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Page 14

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED (CONTINUED)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditors' report thereon. 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 assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise 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 statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 15

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's 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 operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's members, as a body, 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 charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Julie Grimmer FCA DChA (Senior statutory auditor)

for and on behalf of Larking Gowen LLP

Chartered Accountants Statutory Auditors King Street House Norwich NR3 1RB

Date: 30 April 2021

Page 16

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net gains/ (losses) on investments
Net (expenditure)/income
Transfers between funds
19
Net movement in funds before other
recognised gains
Other recognised gains:
Gains on revaluation of fixed assets
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2020
£
5,544
1,952,727
13,002
27
10,000
1,981,300
8,891
2,352,268
2,361,159
-
(379,859)
152,627
(227,232)
142,488
(84,744)
2,220,028
(84,744)
2,135,284		 Restricted
funds
2020
£
22,812
(43,438)
-
1,255
156,527
137,156
-
28,194
28,194
(8,186)
100,776
(152,627)
(51,851)
-
(51,851)
187,385
(51,851)
135,534		 Total
funds
2020
£
28,356
1,909,289
13,002
1,282
166,527
2,118,456
8,891
2,380,462
2,389,353
(8,186)
(279,083)
-
(279,083)
142,488
(136,595)
2,407,413
(136,595)
2,270,818		 Total
funds
2019
£
18,933
2,238,893
33,116
6,535
-
2,297,477
11,817
2,475,081
2,486,898
(10,792)
(200,213)
-
(200,213)
-
(200,213)
2,607,626
(200,213)
2,407,413

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 21 to 40 form part of these financial statements.

Page 17

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2020

Note
Fixed assets
Tangible assets
12
Investments
14
Investment property
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current liabilities / assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
18
Net assets
Total net assets		 24,956
55,906
279,665
360,527
(438,989)		 2020
£
1,873,386
71,783
427,000
2,372,169
(78,462)
2,293,707
(22,889)
2,270,818
2,270,818		 25,988
108,973
342,300
477,261
(350,422)		 2019
£
2,215,526
109,969
-
2,325,495
126,839
2,452,334
(44,921)
2,407,413
2,407,413

Page 18

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

BALANCE SHEET (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Note
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 2020
£
135,534
2,135,284
2,270,818		 2019
£
187,385
2,220,028
2,407,413

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

The Earl Of Leicester Chair

Date:

The notes on pages 21 to 40 form part of these financial statements.

Page 19

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 21 to 40 form part of these financial statements		 2020
£
(17,974)
1,282
-
(75,943)
50,250
(20,250)
(44,661)
-
(62,635)
342,300
279,665		 2019
£
1,812
6,535
385
(71,191)
139,490
(109,892)
(34,673)
-
(32,861)
375,161
342,300

Page 20

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. General information

The company is a company limited by guarantee, incorporated in England and Wales, registration number 00908266. The registered office is Beeston Hall, West Runton, Cromer, Norfolk, NR27 9NQ. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Beeston Hall School Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees have considered the charities financial position including the current level of pupils on the role and new enquiries for places. With the sale of the investment properties after the balance sheet date and the on going support offered by the UK Government the Trustees have concluded that they have a reasonable expectation that the charity has adequate recources to continue in operational existence for the forseeable future namely at least 12 months from the date of formal approval of these financial statements and therefore the Trustees conclude it remains appropriate to continue to support the going concern basis of accounting in preparing these financial statements.

2.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Fee income is recognised on tuition fees invoiced for the period. Fee income is stated after deducting scholarships, bursaries and sibling discounts.

Page 21

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 22

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.8 Investment property

Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss. No depreciation is provided in respect of freehold investment properties. This departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated is, in the opinion of the Trusteees, necessary for the financial statements to give a true and fair view in according with applicable United Kingdom Accounting Standards and investment properties are included in the financial statements at their fair value.

2.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 23

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. Accounting policies (continued)

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.13 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.14 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

2.15 Pensions

The company is a member of Teachers Pension scheme, a defined benefit pension scheme. The scheme is a multi-employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore, as required by FRS 102, the company accounts for this scheme as if it was a defined contribution scheme. The amount charged to the Statement of financial activities incorporating income and expenditure account representts contributions payable to the scheme in respect of the accounting period.

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 24

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

3. Income from donations and legacies

Unrestricted
funds
2020
£
Donations
5,544
Unrestricted
funds
2019
£
Donations
140
Income from charitable activities
Unrestricted
funds
2020
£
Net school fees (see below)
1,913,398
Registration fees
4,650
Other fee income
34,679
Hire of premises
-
Total 2020
1,952,727		 Restricted
funds
2020
£
22,812
Restricted
funds
2019
£
18,793
Restricted
funds
2020
£
(43,438)
-
-
-
(43,438)		 Total
funds
2020
£
28,356
Total
funds
2019
£
18,933
Total
funds
2020
£
1,869,960
4,650
34,679
-
1,909,289

4. Income from charitable activities

Page 25

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

4. Income from charitable activities (continued)

Net school fees (see below)
Registration fees
Other fee income
Hire of premises
Total 2019
5.
Income from other trading activities
Income from fundraising events		 Unrestricted
funds
2019
£
2,204,176
7,250
25,985
30,165
2,267,576		 Restricted
funds
2019
£
(28,683)
-
-
-
(28,683)		 Total
funds
2019
£
2,175,493
7,250
25,985
30,165
2,238,893
Unrestricted
funds
2020
£
Shop income
13,002
Unrestricted
funds
2019
£
Shop income
33,116		 Total
funds
2020
£
13,002
Total
funds
2019
£
33,116

Page 26

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

Unrestricted
funds
2020
£
Income from school fees
Gross school fees
2,648,963
Less 15% remote learning discount summer term 2020
(161,955)
Less bursaries, scholarships and discounts
(573,610)
Total 2020
1,913,398		 Restricted
funds
2020
£
-
-
(43,438)
(43,438)		 Total
funds
2020
£
2,648,963
(161,955)
(617,048)
1,869,960

Fee discounts and bursaries costs for 2020 include an exceptional amount in respect of the Governors special 15% discount given whilst the School was closed and providing remote learning.

Gross school fees
Less bursaries, scholarships and discounts
Total 2019		 Unrestricted
funds
2019
£
2,873,306
(669,130)
2,204,176		 Restricted
funds
2019
£
-
(28,683)
(28,683)		 Total
funds
2019
£
2,873,306
(697,813)
2,175,493

6. Investment income

Unrestricted
funds
2020
£
Interest and investment dividends
-
Bank interest receivable
27
27		 Restricted
funds
2020
£
1,248
7
1,255		 Total
funds
2020
£
1,248
34
1,282

Page 27

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

6. Investment income (continued)

Interest and investment dividends
Bank interest receivable		 Unrestricted
funds
2019
£
-
107
107		 Restricted
funds
2019
£
6,428
-
6,428		 Total
funds
2019
£
6,428
107
6,535

7. Other incoming resources

Unrestricted
funds
2020
£
Coronavirus Job Retention Scheme income
-
Small Business Grant
10,000
10,000		 Restricted
funds
2020
£
156,527
-
156,527		 Total
funds
2020
£
156,527
10,000
166,527		 Total
funds
2019
£
-
-
-

During the year the School received exceptional government funding as part of the Coronavirus Job Retention Scheme. Funding represents the costs of employing certain staff unable to carry out their duties as a result of the coronavirus crisis.

Page 28

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

8. Analysis of expenditure by expenditure type

Shop costs
Costs of raising funds
Teaching
Welfare
Establishment
Support costs
Charitable activities
Expenditure on governance
Shop costs
Costs of raising funds
Teaching
Welfare
Establishment
Support costs
Charitable activities
Expenditure on governance		 Staff costs
2020
£
-
-
1,127,110
207,732
76,868
275,920
1,687,630
42,420
1,730,050
Staff costs
2019
£
-
-
1,129,724
192,180
78,564
282,841
1,683,309
40,585
1,723,894		 Depreciation
2020
£
-
-
-
-
-
133,571
133,571
-
133,571
Depreciation
2019
£
-
-
-
-
-
137,718
137,718
-
137,718		 Other costs
2020
£
8,891
8,891
55,696
107,531
165,182
178,134
506,543
10,298
525,732
Other costs
2019
£
11,817
11,817
91,141
156,272
164,103
178,047
589,563
10,218
611,598		 Total
funds
2020
£
8,891
8,891
1,182,806
315,263
242,050
587,625
2,327,744
52,718
2,389,353
Total
funds
2019
£
11,817
11,817
1,220,865
348,452
242,667
598,606
2,410,590
50,803
2,473,210

Page 29

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

9. Governance costs

Unrestricted
funds
2020
£
Auditors remuneration
10,298
Wages and salaries
33,183
Social security
3,919
Pension costs
5,318
Total 2020
52,718		 Total
funds
2020
£
10,298
33,183
3,919
5,318
52,718
Auditors remuneration
Wages and salaries
Social security
Pension costs
Total 2019		 Unrestricted
funds
2019
£
10,218
32,945
3,900
3,740
50,803		 Total
funds
2019
£
10,218
32,945
3,900
3,740
50,803

Page 30

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

10. Net income/ (expenditure)

This is stated after charging:

Depreciation of tangible fixed assets:
- owned by the charity
Auditors remuneration		 2020
£
133,571
10,298
143,869		 2019
£
137,719
10,218
147,937

During the year, no Trustees recieved any remuneration (2019 - £NIL). During the year, no Trustees received any benefits in kind (2019 - £NIL). During the year, no Trustees received any reimbursement of expenses (2019 - £NIL).

11. Staff costs

Staff costs were as follows:

Wages and salaries
Social security costs
Pension contributions		 2020
£
1,429,867
121,530
178,653
1,730,050		 2019
£
1,453,810
124,060
146,024
1,723,894

Termination payments in respect of 1 member of staff, totalling £9,000, were paid during the year ended 31 August 2020 (2019: £Nil). No amounts were outstanding at the year end.

The average number of persons employed by the company during the year was as follows:

2020 2019
No. No.
66 67

Page 31

BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

11. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

In the band £80,001 - £90,000

2020 2019
No. No.
1 1

Total emoluments to key management personnel totalled £302,440 (2019 - £168,002). Key management personnel included 4 members of staff in 2020 and 2 in 2019.

12. Tangible fixed assets

Cost or valuation
At 1 September 2019
Additions
Transfers between classes
At 31 August 2020
Depreciation
At 1 September 2019
Charge for the year
Transfers between classes
At 31 August 2020
Net book value
At 31 August 2020
At 31 August 2019		 Freehold
property
£
2,989,367
454
(456,610)
2,533,211
1,071,097
55,606
(172,098)
954,605
1,578,606
1,918,270		 Sports
facilities
£
545,938
-
-
545,938
485,578
22,230
-
507,808
38,130
60,360		 Fixtures and
fittings
£
865,075
59,572
-
924,647
640,956
43,752
-
684,708
239,939
224,119		 Plant &
equipment
£
302,051
15,917
-
317,968
289,274
11,983
-
301,257
16,711
12,777		 Total
£
4,702,431
75,943
(456,610)
4,321,764
2,486,905
133,571
(172,098)
2,448,378
1,873,386
2,215,526

During the year two properties were transferred from tangible fixed assets to investment property, reflecting that these properties were no longer required for the operation of the School.

Included in freehold property is land of £163,839 (2019 - £209,500) which is not depreciated.

Page 32

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

13. Investment property

Valuation
Transfers between classes
Surplus on revaluation
At 31 August 2020		 Freehold
investment
property
£
278,712
148,288
427,000

The trustees have assessed the fair value of investment property at 31 August 2020 using a professional valuation undertaken in July 2020.

14. Fixed asset investments

Cost or valuation
At 1 September 2019
Additions
Disposals
Revaluations
At 31 August 2020
Net book value
At 31 August 2020
At 31 August 2019
At the financial reporting date, the historical cost amounted to £74,125 (2019 - £109,892).		 Listed
investments
£
109,969
20,250
(50,250)
(8,186)
71,783
71,783
109,969

Page 33

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

15. Stocks

Uniforms and resources
16.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2020
£
24,956
2020
£
31,277
4,904
19,725
55,906		 2019
£
25,988
2019
£
73,320
4,904
30,749
108,973

17. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income
Deferred Income
Deferred income at 1 September 2019
Resources deferred during the year
Amounts released from previous periods		 2020
£
21,726
135,773
281,490
438,989		 2019
£
7,573
-
342,849
350,422
2020
£
319,956
242,570
(319,956)
242,570

Page 34

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

18. Creditors: Amounts falling due after more than one year

Accruals and deferred income
Statement of funds
Statement of funds - current year
Balance at 1
September
2019
£
Income
£
Expenditure
£
Unrestricted
funds
General Funds
2,220,028
1,981,300
(2,361,159)
Restricted
funds
Whitaker Trust
149,574
(42,183)
-
Beeston
Foundation
30,761
22,812
(28,194)
Ampitheatre
7,050
-
-
Government
Grants
-
156,527
-
187,385
137,156
(28,194)
Total of funds
2,407,413
2,118,456
(2,389,353)		 Transfers
in/out
£
152,627
3,900
-
-
(156,527)
(152,627)
-		 2020
£
22,889
Gains/
(Losses)
£
142,488
(8,186)
-
-
-
(8,186)
134,302		 2019
£
44,921
Balance at
31 August
2020
£
2,135,284
Balance at 1
September
2019
£
Unrestricted
funds
General Funds
2,220,028
Restricted
funds
Whitaker Trust
149,574
Beeston
Foundation
30,761
Ampitheatre
7,050
Government
Grants
-
187,385
Total of funds
2,407,413
103,105
25,379
7,050
-
135,534
2,270,818

19. Statement of funds

The transfer of £3,900 (2019: £3,900) from general funds to the Whitaker Trust restricted fund reflects the interest payable on the loan between the funds.

The transfer between unretsricted and restricted funds Government Grants reflects the CJRS government funding being applied to fund the costs of furloughed staff.

Page 35

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
General Funds
Restricted
funds
Whitaker Trust
Beeston
Foundation
Ampitheatre
Total of funds		 Balance at
1 September
2018
£
2,392,894
178,721
30,761
5,250
214,732
2,607,626		 Income
£
2,300,939
(22,255)
16,993
1,800
(3,462)
2,297,477		 Expenditure
£
(2,476,249)
-
(10,649)
-
(10,649)
(2,486,898)		 Transfers
in/out
£
2,444
3,900
(6,344)
-
(2,444)
-		 Gains/
(Losses)
£
-
(10,792)
-
-
(10,792)
(10,792)		 Balance at
31 August
2019
£
2,220,028
149,574
30,761
7,050
187,385
2,407,413

The transfer of £Nil (2019: £6,344) from Beeston Foundation reflects costs applicable to the restricted fund, which were initially funded from general funds.

The transfer to school (general funds) from Beeston Foundation in the year represents salary costs relating to the foundation funded by the school in the prior year.

The Whitaker Trust is under the control of the school and hence income and expenditure, assets and liabilities are consolidated (as a restricted fund) with the reserves, assets, and liabilities of the school. The objects of the Whitaker fund are to apply its capital and income for any purposes connected with or relating to Beeston Hall School. Funds are applied at the discretion of the Whitaker Trust trustees.

The Beeston Foundation is a restricted fund comprising of donations and related expenditure. The purpose of the fund are to raise money for future projects, to enable the growth of the school, and to fund bursaries for children attending the school.

The Amphitheatre restricted fund for the purpose of redeveloping the old swimming pool into an amphitheatre for musical and theatre productions.

Page 36

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

20. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2020
£
Tangible fixed assets
1,873,386
Fixed asset investments
-
Investment property
427,000
Current assets
296,776
Creditors due within one year
(438,989)
Creditors due in more than one year
(22,889)
Total
2,135,284
Analysis of net assets between funds - prior period
Unrestricted
funds
2019
£
Tangible fixed assets
2,215,526
Fixed asset investments
-
Current assets
399,845
Creditors due within one year
(350,422)
Creditors due in more than one year
(44,921)
Total
2,220,028		 Restricted
funds
2020
£
-
71,783
-
63,751
-
-
135,534
Restricted
funds
2019
£
-
109,969
77,416
-
-
187,385		 Total
funds
2020
£
1,873,386
71,783
427,000
360,527
(438,989)
(22,889)
2,270,818
Total
funds
2019
£
2,215,526
109,969
477,261
(350,422)
(44,921)
2,407,413

Page 37

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

21. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Losses on investments
Dividends, interests and rents from investments
Profit on the sale of fixed assets
Decrease/ (increase) in stocks
Decrease/ (increase) in debtors
(Decrease)/ increase in creditors
Net cash provided by/(used in) operating activities
22.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
23.
Analysis of changes in net debt
At 1
September
2019
£
Cash at bank and in hand
342,300
342,300		 2020
£
(279,083)
133,571
8,186
(1,282)
-
1,032
53,067
66,535
(17,974)
2020
£
279,665
279,665
Cash flows
£
(62,635)
(62,635)		 2019
£
(200,213)
137,719
10,792
(6,535)
392
(3,716)
(4,724)
68,097
1,812
2019
£
342,300
342,300
At 31
August
2020
£
279,665
279,665

Page 38

BEESTON HALL SCHOOL TRUST LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

24. Pension commitments

Teachers’ Pension Scheme

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors.

The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:

The next valuation result is due to be implemented from 1 April 2023.

The employer's pension costs paid to TPS in the year amounted to £152k (2019 - £140k). A copy of the latest valuation report can be found on the Teachers’ Pension Scheme website.

Page 39

(A company limited by guarantee)

BEESTON HALL SCHOOL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

25. Operating lease commitments

At 31 August 2020 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Amounts payable:
Within 1 year
Between 1 and 5 years		 2020
£
11,958
23,129
35,087		 2019
£
13,744
31,055
44,799

26. Related party transactions

Two Trustees had children at the school in the year (2019 - 3). All fees were paid under the standard terms of the school.

27. Securities

Lloyds Bank hold a legal charge over the freehold land and buildings at Beeston Regis Hall, Beeston Regis, Cromer, Norfolk, NR27 9NQ. No amounts were due to Lloyds Bank as at 31 August 2020.

28. Post balance sheet events

The two investment properties were sold after the balance sheet date.

Page 40