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 2022
BEESTON HALL SCHOOL TRUST LIMITED (A company limlted by guarantee) CONTENTS Page Reference and administratlve dotails of the company• its Trustees and advisers Trustees, report Independent audltor5' report on the financial statements Statement of financlal activities 2-13 14-18 19 Balance Sheet 20-21 Statement of cash flows 22 Notes to the flnancial statements 23-42
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Trustees G G Able, Vice Chair {resigned Ihrough retiremenl 9 July 20221 D E Brown The Eart Of Leicester. Chair (resigned through retirement 9 July 20221 JEJNGiles K Goodley H Hammond. Vice Chair H M Lindsell, Chair C Newbury J F T Pallisler P D Ripley G S Webster (resigned through retirement 26 November 20211 l Barber J Hammond - Chambers {appoinled 26 November 20211 C A Webster (appointed 26 November 20211 W Fox lappointed 26 February 2022) Company registered number 00908266 Charity registered number 311274 Registered office Beeston Hall, Wesl Runton Cromer Norfolk NR27 9NQ Company $¢¢retary S K Lubbock Chalr Henrietta Lindsell Independent auditors Larking Gowen LLP Chartered Accountants 1st Floor Prospect House Rouen Road Norwich NR1 1RE 8ankers Lloyds Bank PIC Wesl Street Cromer NR27 9HZ Page 1
BEESTON HALL SCHOOL TRUST LIMITED IA company limlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Trustees present their annual report together wrth the audited financial slaternents of the company for the year 1 September 2021 10 31 August 2022 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 slalemenls of the charitable company comply with the (rrent statutory requirements, the requirements of the charitable company's goveming document and the provisions of the Statement of Recommended Pracli¢e ISORP} applicable lo charities PTeparing their accounts in accordance with the provisions of the Statement of Recommendee Practice IFRS1021 'Accounting and Reporting by ChaTiti"es' ISORP IFRS1021}. Since the company qualifies as small under sectK)n 382 of the Companies Act 2006. the Strategic report required of medium and large companies under the Companies Act 2006 Islralegic Report and Directors, Report} Regulations 2013 has been omitted. Structure. governance and management Beeslon Hall School was founded in 1948 and registered as a charity in 1968. The Articles of Asso¢iètion provide that there should be a minimum of seven and a maximum of fifteen governors, who also act as Iruslees of the charity. Governors are appointed for 8 te(m of five years. bul may be re-elected subject lo a maximum of three terms ol office. The governors have identified that, in order lo carry out their duties effectively and efficiently, the board requires a range of skills and breadlh of experience. Suitable candidates are identified by the board, from past p8rents of pupils, from Old Beeslonians and from the business and professional community. The following skills and experience. amongst others, ale idenlrfied as being important and are represented on the current board". education, pastoral care. the law, finance and 8untancY. business man2gement and 8dministralion, property management and development. marketing and boarding. Al least one parent governor is appointed. New governors are provided with an induction pack and have special responsibilities in the following areas. attending meetings or sub-committees in these areas.. finance. education, safeguarding, health and safety, bursaries, boar(Jing and development. The governing board meet formally al least once a temi, as well as a undertaking a range of visits and attending committee meetings throughout the year. The day to day management of the school is delegated to the Headmaster and the Bursar, abng5ide the senior leadership team. The Headmaster and Bursar attend all goveming board meetings and appropriate commillees. Rlsk management The governing board is responsible for management of the risks f8¢ed by the school. A system is in place which enables the governors lo identify the major risks, lo lormalise and record the conlrols in place, lo minimise each risk and lo identify and record the person primarily responsible for controlling each risk, and for monitoring the controls on a regular basis. All this information is recorded in the school's Risk Register which is approved by the board of governors and regularly updated. Examples of entries in the risk register are.. we monitor feedback from parents in order lo meet their needs and remain competitive we monitor cash flow on a monthly basis lo ensure the appropriate level ol liquidity is maintained our governing body regularly tjndertakes self-assessment lo ensure that the individual governors have appropriate knowledge and the governing body is operating effectively we remain alert lo the effects of the counlrls recent dep8rtiJre from the EU we have sel in place plans lo consider and mrtigate the political risks associated with current Labour government policy. The governors are satisfied that through the risk management system, the major identified risks have been at adequately miligaled. However, il is recognised that risk management systems can only provide ieasonable, bul not absolute, assurance that the major risks facing the school have been, and are, adequately managed. Page 2
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmited by guaianteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Objectlves and activitle$ a. Pollcles and objective$ The School's objects are the advancement of education. indudin9 the provision of boarding andlor day schooling for boys and girls between the ages of tour and thirteen years. The Governors have agreed to provide means-tesled bursaries. as assessed by the School in line with ils policy to assist children, over potentially a nine-year period, who would not otherwise be able lo attend the School. The Governors agreed lo offer limited scholarships lo children on entry lo the School al Year 3 and 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 objectsves and planning ft)r 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 IPB2)'. b. Strategies for achlevlng objectives Academic achievement, balanced by a stror¥J emphasis on alkround education and the recognition that sucsSful personal development comes about as a result of a wider Tange of aelivilies Ihan those included in the conventional curriculum Means-lesled bursaries continue lo be offered subject lo a Declaration of Means being completed and nee(J identified by the Bulsary Committee The establishment of the Beeslon Foundation for the purpose of raising funds for capital projects and funding of means-lested bursaries The completion of a development plan lo given stfale9ic direction lo the next 20+ years of investment and development to enable the School to kst meet ils vision, aims and objectives Development of outreach, with the forging of dose links with sporting dubs and local maintained schools who share the school's facilities on casnS in term lime and within holiday periods, including the inclusion of local primary school children in schcrt)l activities and off-site visits. multi-sports camps and hockey and ericket clubs. Continuing lo develop effective and close communication Ihrough the obtaining of regular paTenlal and pupil feedback, regularly reviewing educational and pastoral policies and fostering 0-WaY communieation. Effective links with various local religious denominations and chartlies, with particular support given to local and international charities and the involving of ehildien in fund- raising Continue with a pay and Pfogression policy for teaching 51aff logelhef with the selling up of a robust appraisal system to ensufe a balance of high expectations (from th School and staff) and a culture of good workllife balance Page 3
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Objeetlves and activitles (contlnued} c. Actlvltle$ undertaken to achleve objèctives The school has continued lo provide a broad. alkround education. through a welkplanned curriculum balanced between academic. music. drama and sports and a wide variety of learning opportunities, lo girls and boys aged between 4 and 13 years old. The aims and ethos of the school are rooted in activities designed lo develop confidence in each child, within 8 Christian context, so that they are all well-prepared ft)r the next stage of their education predominately major senor schools in the country. such as Ampleforth, Bedales, Eton, Downe House, Fr8mlingham, Gresham's, Harrow, Norwich School, Ounijle. Royal Hospital School Ipswich, Rugby, Slowe, Shrewsbury, Tudor Hall, Uppingham and Wycombe Abbey. d. Soclal Investment pollcles The School's policy of ensu¥ing il is embedded into the commLFnity continues. wth a range of local aclivilies. involving local people, charities and institutions (examples below). The School's policy of inclusion and dNersity is explicit in the broad variety of pupils on the roll, and implicit in marketing and Open Days. admissions policy and procedures. prospective parent meetings. The Foundation and the Whitaker Trust were established lo fund children otherwise unable lo attend the school, the former {sel up in 20171 has funded one child throughout his Beeston schooling and conlinLFes lo fund three others on 80% bursarial assistsnce. The School has a policy of expanding ils reach by appealing to non-local families through rts academic offering alongside the outstanding location. To that effect. further families from Hong Kong has joined with ¢onlinued enquiries from that location and from Spain. The School continues, with a Head of Outreach, extending strong links with local schools and clubs, providing transport to swimming lessons given by the schwl. as well as the facilities for music days and sports lournamenls for local children, a$ sel out in the ISC'S Schools Together survey document. The impact of these policies is". il th81 there is greater awareness of the school and ils facilities". ill children from other schools discover and leam through opportunilies not otherwise open to them.. iiil the local leaching bodies have access to and share professional advice and experience al Beeston., iv) sports and health benefits are shared amongst the local community, at no cost., vl the pupils of Beeslon enjoy a wider frame of reference and more inlegialion 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 8$ fai as possible through the following awards at Year 6.. Academic scholarships", All Rounder awards", Art. Music, DT and Sport 5cholafships.' Clergy discounts., H M Forces discounts", Sibling discounts. means-tested bursaries to those meeting Bursary Committee criteria. Hardship awards for existing pupils. Page 4
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Objectives and actlvltle$ lcontinuedl f. Volunteers The school is greatly appEcialive and very much values the input of our volunteers who give up their time lo come and help the school. This can often be from something as simple as listening lo young pupils read, assisting in art scholar workshops. providing support al sporting fixtures etc, to the committee of the Friends of Beeslon IFoB'sl who help to organize social events for parents and children, as well as supporting the school with ils fundraising activities and running a Food FoTum. The sch(# lakes ils responsibilities lo 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 IDBS) check. Page 5
BEESTON HALL SCHOOL TRUST LIMITED (A company limlted by guarantee) TRUSTEES. REPORT {CONTINUEO) FOR THE YEAR ENDED 31 AUGUST 2022 Object•ves and activltles {continued g. Maln actlvltios undertaken to further the company's purposes for the publlc bgneflt We have built considerably on the continued links and relationships with local schools and Communities, which remains a central commitment lo the school's aims and ethos. Our involvement with the Cromer and Sheringham Sch¢)ols Sports Partnership {for about a decade) has increased and been added to, with addition of events with the North Nortolk Schools Sports Partnership. We appointed a new Head of Outfeach who has close links with Ioc81 maintained schools, having worked with them prior lo joining Beeston, as well as a key local provider, Active Education. There are about len separate events over the school year, wherein local team5 and clubs make use ol the Beeston Hall sports facilities and hospitality, the largest of which is the annual cross ¢ountry. which numbers 350 children on a single day. plus leachers and parents. Between April and October, the school has an arrangement lo transport local primary children to Beeston's swimming pool for specialist swimming lessons that we provide. French lessons provided for a k)cal piimary school and a joint music-making day al Beeslon, comprising six schools. are reeenl additions to the provision of such opportunities. Our Head of Pre-Prep has made visits lo local nursery sellings and organised lermly Go Wild events for local children lo attend Beeston Forest School events, with an EYFS focus. Beeston was once again the finishing p051 land gathering point} for the Positive Steps Norfolk 100km run in June. Finally, the sehool provides bursari81 support for 200A of the children on the school roll and has provided a fully funded place for a Ukrainian refugee, as well as Ifaining and employment for his mother. The impact of these actions are.. il children have access lo an all-round education which would be otheThvise not open lo them ill children from other schools have learning opportunities in sports not possible on their own school sites iiil increased access to eompelilive events and competitions iv) increased access lo activities dedicated lo promoting health and wellbeing le.g. music ensembles and Forest School outdoor aclivityl vl the local teaching bodies have asS lo and share professH)nal advice and experience vil sports and health t*nefils are shared amongst the local community, at no cost." vill the pupils of Beeslon enjoy a wider frame of reference and more local integration viiil both Beeslonians and local $chlS and understand the value of these partnerships. Fundraising for local and inlemational tharilies is carried out by way of collections al 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-direcled for the purpose of awareness-raising, as well as fund-raising. The school continues lo be part ol the Assisted Boarding Scheme (fOrETty known as the Boarding Pathfinder Initialivel 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 eduCatn whilst maintaining contact with their families. The school is working in partnership with Norfolk County Council lor the shared support of adopted children al the school who have in pla Educalion arsd Health Care Plans. Page 6
BEESTON HALL SCHOOL TRUST LIMITED IA ¢ompany limlted by guaranleel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Achievements and perfomiance a. Main achlevements of the Company The school successfully prepared pupils for their first Choi of senior 0015 as follows: Elon, Framlingham, Gre5ham's. Oundle, Slowe and Uppingham, with 61 % of 2022 leavers achieving a scholarship or award. The school roll began in September 2021 wilh 151 pupils. rising lo 160 by the start of the summer term 2022, building purposefully on the growing repulats'on of the school as a result of its perfomiance during the pandemic and emerging from it. This, with the increasing Size and success of the pre-prep and recruiting of new Staff. means all bodes well for the future. b. Key performance Indi¢ators The financial statements show that the school had an operats'ng surplus of £29.762 after charging depreciation of £107,083. {Deficil in 2021>21 was £85,102 aftei charging deprecialionl. The School has a clear goal to operate al a surplus, and the Governors see their confidence in the continued growth of Ihe school's roll, and the strategic plans in place. being realvzed as the school returns lo surplus. The school's cash reserves, and lack of material bank debt {almosl uniquely amongst its peers) means, with unrestricted reserves of £1,988,528, ils position has slrenglhened considerably. The surplus has arisen from an increase in nel fees arising from additional pupil numbers, together with an increase in other income. being principalty fees for additional boarding nights and Learning Support. Overall costs were telow budgeted expendilufe by approximately £40,000, demonstrating the continued caution in the financial management of the School. The success of the year mean that svpport staff enjoyed mid-year pay rises, in accordance with the support staff pay policy, and there was sufficient strength to plan for all leaching staff being able lo move up one point on the pay and progression policy linl10dud ft)r all leaching staff from 1 September 20191, alongside the possibility of across-lhe-board salary increases for Ihe year 2022-23. Additions lo the infraslruclure of the school have generally been funded out of retsined surpluses and reserves, includin9 the replaeemenl of a main boiler and electronic pool cover. Reslricled funds relate to the Whitaker Trust and the Beeston F(MJndalion, established lo fund both bursaries and other general needs of the school. The Trustees. policy in relation lo the funds Is lo 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 Iruslees. Page 7
BEESTON HALL SCHOOL TRUST LIMITED (A company Ilmited by guarnntee TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Achlevements and perft>rmance (continued} c. Revlew of actlvitie8 Drama. art, sport an¢J music have continued to fiourish. and opportunrties alongside the continued commitment to academic Prog$$ and excellence. reflecting the school's aim to provide an all-rounder education and enabling all children to win places al their first Choi of senior school, 15 different ones in this year. To this effect 13 scholarships and exhibitions were awarded lo ehildren (six sport. tsvo academic. music, and one 811- rounder, one drama and one art.) Opportunities in all these areas have been provided for all. with a particular focus- posl-pandemic- on childfen spending lime outside, in new places and leaming together. More than fvlenty-five different school trips were organized over the year, including a whole school trip lo see Dippy the Dinosaur, and countless visits lo Wesl Runlon beach. There were four drama produclions acfOSS Ihe age groups, one I'matilda Jnr,) including all members of the prep school. However Sussful Beeston's response to the pandemic was, the absence of opportunities for person81 development (during remote learning} has been mel head on, wilh a greater than usual number of opportunities to enable pupils to work and socialize together. Together with a number of music concerts and recitals, both formal and Infom1, the particular emphasis has been on togetherness in fulfilling the motto lo'lel confidence flourish.. The range of activities continues to buikl. with melal-detecting being added lo surfing Ilwrce a week}, sailin9, street dance, roller-skating, coding, scuba diving IPADI qualification) and poweT-boaling options, lo add lo the exlr3<urricular programme. which included bushcraft, orienteering, kayaking, the 'Clolhes Show, BBC News reporting and filming, the Beeston Apprentice. community service and the Leavers. Ball. A further camping weekend foi Year 7s, to enhance te8nFbuilding has become a regular feature of the calendar. On the same basis, 13 different speakers came lo address children and parents in church and representslives from 11 different schools have visited on other occasions. In addition. children enjoyed a diverse range of lectures, ranging from a young man's joumey from Afghan refugee slalus lo Shrewsbury School, lo ones on sustainable farming and swimming the English Channel. Competition in wider arenas to place. with 19 children finishing the UKMT Maths Challenge, including 8 golds, the school hosting an inter-school general knowledge competition and children becoming finalists in the regional cohort of this national competition. Pupils corn1ed. onee again, in the Townsend-W8rner History compelilion, with one pupil being placed 79th in a field of mre than 1000 nationally_ Musical events. helped by our expert peripatetic teachers. have increased in number and ambition. With 'Meel the Instruments. taking pkce each term Ilo help enroll pupils in individual music lessons at Beeslonl. inform81 concerts and a house music competition, as well as events elsewhere. such as mass oreheslra days at nearby senior schools or the choir singing in local churches or hosting other schools, 152 01 the ehildren are involved in music outside the core lessons. 39 look and passed music exams arbd 75 were involved in orchestral groups. The flexibility and willingness to proed with these, despile the constraints of a remote learning episode and - until March 2022 - continual disruption lo the pupils. schedules because of covid-related matters, is a leslament lo the commitment and loyalty of these staff. Sport has remained at the centre of Beeslon's provision with a steady run of iesults occurring alongside the philosophy of 'sport for all,. The senior boys, rugby had the best season for a decade and the same cohort in hockey finished fourth in the East Region IAPS championships and runners-up in the Norfolk Schools championships. The four U13 boys, teams played 34 games and only lost 6. Nine boys and three girls have been selected for eounty cricket this year wilh our U12 boys crowned Norfolk county cricket champions. Our alhlelics this year saw 9 new school records Ing broken, some of which were over 20 years old and three entries into the National Athletics Finals. Swimming continues to strengthen, with a large number of school records broken and boys swimming at the National Finals finishing 13th and 15th in their respective races in the country. Page 8
BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Achlevements and perfom7ance {continuedl Most impOrtanY, though, as we have emerged from the pandemic, has been the expansion of. and detail attached to, the pastoral care over this yeai, with the emphasis on responding lo, and meeting, the individual needs of children, and the monitoring thereof_ While the continued focus on wellbeing, through the application of the RULER scheme, has been one feature, the work of the Head of Leaming Support, a qualified - and widely experienced educational psychologist. has meant the expansion of this department wherein a 38% increase in children requiring extra help has been measured over the year. Another post-panéemic development has been the increase in CPD Islaff developmenll, for example training in the Sounds and Syllables literacy programme and the involvement of staff in local meetings and contact with 8ssocialions. The continued subscriptions lo GL Assessmer¢l {CAT4 teslingl. to Planet BOFA, lo the Malhletics and Spellodrome pr¢TammeS as well as Century Tech softhre. have been joined by Atom Leaming and the CEM Pre-lesl packages whioh have been usefu5 additions in Ihe wide-ranging armory devoted to the development of children's skills. particularfy Tegarding the coMrn Pre-test in year 6, now adopted by the majority of senior schools as a precursor to Common Entrance. The school's marketing activity once again included events in the county and in London, with regular well allended Open Mornings and regular articles published regionally, and plans in place lo celebrate the coming 75th anniveisary of the school's foundation. Not wilhslanding. the main Ihrusl of the year's activity has been fostering children's positive attitudes and their development, as confident young people who understand and enjoy the opportunities they have, in the oulslanding location il occupies and the benefit of contributing lo their community, which has meant the school's best 'marketing tools, (satisfied parents) continue lo have a material differen on the outlook and the success of the school. d. Factors relevant to achleve oblectSYes Please see all of the school's activities detailed above. e. Fundrai$ing activities and income gengration The s¢hool eonlinued with ils fund-raising for charities, with over £3,029 was raised and shared between a local charity INorfolk Rivers Trust) and the global Water Aid throu9h a range of activrties such as school productions, school eoncerts, school fetes, dog shows and 'dress up days.. as well as bespoke evenls such as cakes sales- one of which, organised by a Year 6 child. Taised over £400 in an hour in support of Ukraine {in total £2,584 went lo the Kampa Community Centre in the Czech Republic providing for Ukrainian fefugee children). Non-core income rose sharply on the previous year through further rentals of the sile during holiday lime in the summer of 2021. An arrangement wlh the local council lo provide park and ride faeilib'es in the summer holiday provided modest further income. The school acknowtedges that whilst the provision of education is its core business, 8ltern81ives streams of income should be pursued in order lo improve the business outcome and further lo this a neighbouring caravanning and camping facility is wishing lo lease playing fields for these purposes. The planned round of friend-raising has conlj.nued with events taking place in support of the Beeslon Foundation leading lo donations of over £50,000 in cash and shares. Page 9
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 A¢higVgmgnts and pgrfom)ance {contlnuedl f. Investmont policy and performance The restricted funds held by the Whitsker Trust are managed within the Barratt 8 CcK)ke Fund Portfolio Service. The value of these investments has dipped slightly during the year. very much in-line th the vagaries of the slo¢k market as a whole. Some capitsl has also been released lo CVer the increasing number and value of support offered lo students during the year. This was particularty ielevanl during the summer term when The Whitaker Trust stepped in lo sUprt a number of parents who were suffering financial hardship because of the pandemic reslriclions. Flnancial revigw a. Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the company has adequate resources lo continue in operational existence fof the foreseeable future. For this reason, they continue lo adopt the going Concern basis in preparing the financial stslements. 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 reseeS of £197,400. which has increased from £190, 195 in 2020121. The level of reslricled funds is £246,306 an increase from 2020121 figure of £199,490. It is the Govemors, intention to build reserves wherever possible over the next few years. c. Materlal Investments pollcy The school's principal investment is in its land and buildings and other educational facilities. These are used lo promote and implement the primary objeclNes of the company. The school continues lo hold a small amount of cash reserves which are lodged with Lloyds Bank Plc. d. Principal risks and uncertalntles The school has shown itself lo be exiraordinarily resilient in the face of the pandemic-based risks and uncertainties that continued lo bedevil schools. This included managing a Ibaselessl rumour that the school was a source of the Omicron Vifus, the flipping lo remote learnin9 for a four-day period {in November 2021) and then the continued of on-site learning in January 2022, when neady half the school were obli9ed lo self-isolate. In all these situations confidence was maintained and the school's parent questionnaires saw a 980/0 retum rale and voiced the unanimous support of parents. The school continues lo be aware of ils relative vulnerability as a stand-alone 13+ boarding prep school, bul ils small syze, and capacity lo be flexible, make decisions and change nimbly have increasingly been regarded by bgth parents and the governors, as strengths. Notwithstanding, it has remained commilled lo a cautious approach to spending and capilalized on the core principle5 of the school.. children enjoying childhood, with purpose, in an atmosphere conducive to learning, through a wide Tange of aclivilies, led by a staff whose wellbeing is cnjcial to the success of these aims. Pa9e 10
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 g. Financial risk management objectlves ond policies The Trustees have assessed the major risks to which the company is exposed. in particular those related lo the operations and finances of the rmpanY. and are satisfied that systems and procedures are in place to miligale our exposure lo the major risks. f. Principal funding Through fee income artrd sile rental. Structure. governance and management a. Constitution Beeston Hall School Trust Limited is registered as a ¢harilabJe 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 ol the Trust deed. c. Organlsatlonal struetur¢ and decision4naking pollcles 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 lo considerable improvements in the delivery and organization of the activities programme, with more plannin9 and forethought. The management structure has undergone streamlining and change, wtth strategic aims of the school being undertaken by a Senior Leadership Team. (r)mprising the Head, hvo Deputies and the Bursar. The division of responsibility between Deputy Head Pastor81 and Deputy Head Academic for day-lo-day running of the school has proven highly successful. with improved communicabon betsveen all staff lo ensure effective and imaginative use of all the school's fesources. to best benefit the children. d. Policies adopted for the Inductlon and tralnlng of Trusteos Two additional Iruslees were appointed during the year bringing our number of Iruslees up to our usu81 level. The Chair of Governors works dosely with the Association of Governing Bodies of Independent Schools IAGBISI regarding induction training and all Govemors are issued wth a copy of the AGBIS "Guidelines for Governors." Formal training sessions for Governors lake place alongside regular Governors, meetings and regLslar visits lo the school are made by individual governors. Pay policy fol key management personnel The success of the year meant that teaching staff enjoyed a 2% rise in salary, with some support stsff receiving a 6.6Qk rise. The position has looked sufficiently strong for the govemors to consider a more generous inciease for the year ahead 2022-2023. Page11
BEESTON HALL SCHOOL TRUST LIMITED A company Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Structure, governance and managemgnt Icontlnuedl f. Related party relationshlps During the year there were a number of transactions wilh an accountancy practice whi¢h employs one of the Tiuslees. The Trustee was not involved in this transaction, whKh was in the normal COUTse of business lo support the preparation of management accounts. In addition a number of events were held by the school al a business owned by a Trustee. This transaction did not involve the Iruslee in any capacity. All works were earried out al market rates. A number of trustees are also parents at the school. Plans for future periods In line w7th the governors. commitment to long temi planning, a whole day of consultation has been arranged lo consider the medium- and long-term strategy, in the li9ht of the school's recent successes. A governor's development sub-committee has been formed lo oversee the plans for a remodeling of the music school ovei the next two years. Continued staff training wth the school management system IISAMSI will ensure giealei efficacy of the technology and its users. Marketing and PR have become a focus. on the back of a flourishing social media presence that has built on the reputation grown over lockdown. Regular articles by the headmaster were seen in regional magazines and Further links with mainland China agents and school groups have been made. ensurin9 the enrolment of a sm811 number of overseas boarders. Slrenglhened links with nurseries made by the new Head of Pre-Prep have led to outside visitors enpying the Go Wild programme, making the mosl of the school's woodland and Forest School facilities. The cricket academy and a tennis academy within the school Ibased on the expertise within the school staff) have continued to build a kjcal profile through events and susS in lournamenls, bul the main source of positive marketsn9 has in¢reasingly been Ihfough parent leMndatiOn. Statement of Trustees. responsibilities The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applKable law and United Kingdom Accounting Standards (United Kingdom Generally Aceepled Accounting Practice). Company law requires the Trustees lo prepare financial StatentS for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they gNe a true and fair view of the state of affairs of the company and of ils incoming resources and application of resources, including ils ineome and expenditure. for that period. In preparing these financial stalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consistently- observe the methods and prineiples of the Charities SORP IFRS 1021". make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards {FRS 1021 have been followed, subje¢l to any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going conrn basis nsS il is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting recor(Is that are sufficient lo show and explain the company's liansaclions and disclose with reasonable accuracy at any lime the financial position of the company and enable them to ensure that the financial 51alements comply wth 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 Ilmlted by guarantee) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Disclosure of Information lo audllors Each of the persons who are Trustees al the lime when this Ttustees. reFQrt is approved ha$ confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been tsken as a Trustee in order lo be aware of any relevant audit infomialion and lo estsblish that the charity's auditors are aware of that information. Auditors The auditors. Larking Gowen LLP. have indicated their willingness lo continue in offi. The designated Tnjstees will propose a motion re8ppoinb.ng the auditors at a meeting of the Ttuslees. Approved by order of the members of the trf)ard of Twstees and signed on their behalf by.. Henrletta Lindsell Chair Date.. 13 March 2023 Page 13
BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED Opinlon We have audited the financial stalemertls of Beeston Hall School Trust Limited Ilhe 'charilable company,) for the year ended 31 August 2022 which comprise the Statement of financial activities, the Balance sheet, the Sialemenl of Cash flows and the related notes, induding a summary of significant accounting policies. The financial reFK)rtsng framework that h85 been applied in their preparation is applicable law and United Kingdom Accounting Standards, inciuding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements". give 8 true and fair view of the slate of the charitable company's affairs as al 31 August 2022 and ol ils incoming resources and application of resources. induding ils income and expenditure for the year then ended.. have been properfy prepared in accordan with United Kingdom Generally Accepted Accounting Practice.. and have been piepared in accordance with the requirements of the Companies Act 20C6. Basis for oplnlon We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financ*al slalements 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 slalemenls in the United Kirigdom, including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffi'cient and appropriate to provide a basis for our opinion. Concluslons relating to golng Concern In auditing the financial slalements, we have concluded that the Tnjslees, use of the going Conrn basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have perf0Md, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concem for a period of at least e1ve months from when the financial 51alemenls are aulhorised for issue. Our iesponsibililies and the responsibilities of the Trustees with respect lo going concem are described in the relevant sections of this report. Pa9e 14
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED (CONTINUEDI Oth¢r informatlon The other information comprises the informats.on included in the Annual report other than the financial statements and our Auditors, report Ihereon. The Truslees are responsible for the other information contained within the Annual report. Our opinion on the financial slalements does not cover the other information and, except lo the extent otherwise explicitly slated in our report. we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. If we identify suth material incon51Stencies or apparent material misstatements. we are required lo determine whether this gives rise lo a material misslalemenl in the financial statements themselves. If, based on the wotk we have perf0Md. V conclude that the is a material misstalemenl of this other infomialion, we are iequired to report that fact. We have nothing lo reF)Ort in this regard. Oplnlon on other mattels prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, report for the financial year for which the financ1 slalemenls are prepared is consistent with the financial statements. the Trustees. report has been prepared in 8eeordance with applicable legal requirements. Matters on which we are requlied to report by exception In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit. we have not idenb.fied maleiial misslatemenls in the Ttuslees, ieport. We have nothing lo report in respect of the following matters in relation to which Companies Act 2006 requiies us to report lo you if, in our opinion.. adequate accounting records have not been kept, or relums adequate for our audit have not been received from branches not visited by us., or the finanual statements are not in agreement with the accounting records and returns,. or certain disclosures of Trustees. remuneration specified by law are not made." or we have not received all the information and explanations we require lor our audit., or the TTuslees were not entitled lo prepare the financial slalements in accordance with the small companies regime and lake advantage of the small companies. exemptions in prepanng the Trustees, report and from the requirement to prepare a Sirale9ic report. Page 15
BEESTON HALL SCHOOL TRUST LIMITED IA company limitgd by guarantee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED (CONTINUED) Responslbllities of trustees As explained more fully in the Trustees, responsibilities statement. the Trustees (who are also the directors of the charitable company for the Pltrposes of company law) are responsible for the preparation of the financial slalements and for being satisfied that they give a Inje and fair view, and for such inlemal control as the Trustees determine is necessary lo enalAe the preparation of finanual statements that are free from material misslalement, whether due lo fraud or error. In preparing the financial slatemenls, the Tru51ees are responsible for assessing the charitsble company's ability lo continue as a going concern, disclosing, as applicable. matters related lo going concem and using the going concern basis of accounting unless the Trustees erther intend to IUldate the charitsble company or lo cease operations. or have no realistic alternative but lo do so. Page 16
BEESTON HALL SCHOOL TrLIST LIMITED IA company limfted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED (CONTINUED} Auditors. responsibi1Stles for the audit of the financial statements Our objectives are lo obtain reasonable assuran about whether the financial slalemenls as a whole are free from material misstatement. whether due to fraud or error. and to issue an Auditors, report that includes our opin¢on. Reasonable assurance is a hh level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will avayS delecl a material misslalement when il exists. Misstalemenls can arise from fraud or erfor and are considered material if. individually or in the aggregate. they could reasonably be expected lo influence the econom decisions of usets taken on Ihe basis of these financial stalemenls. Irregularities. including fraud. are instances of non•compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect malerial misstatements in respect of irregularities. including fraud. The extent lo which our procedures aTe capable of delecling irregularits"es. including frauol is detailed below.. Due lo the field in which the Company operates, we identified the areas most likely to have a direct material impact on the financial statements as compliance with tax legislation, accounting standards and requirements, including Charities SORP IFRS 1021 and the Companies Act 20C6 and charity law. In addition. we considered the provisions of other laws and regulations which whilst not having a direct impact on the financial slalemenls, are fundamental to the Company's ability lo operate. funding agreements, safeguarding requirements, health and safely,. employment law, data Pfoleclion and compliance w*th various other regulations relevant lo the conduct of the Company's operations. Our appioach lo idenlifying and assessing the risk of material misstslement in respect of iiregularities. including fraud and non4ompliance with laws and regulations. included the following.. Enquiries with man8gemenL the accounting officer and the trustees about any known or su$pecled instances of non-compliance with laws and regulations. accidents in the workplace. safeguarding breaches,dala breaches, potential lilFgalion or claims and fraLId'. Reviewing legal and professional fees to confirm mallefs where the Company engaged lawyers during the year., Reviewing financial statemenl disclosures and testsng lo supporting documentation lo assess compliance with applicable laws and Tegulalions" Reviewing board and finance committee minutes and any relevant correspondence with external authorities, including regulators", Auditing the risk of management overrKle of conlTols, induding through lesling journal entries and other adjustments for appropriateness, and evaluating the bu&ness rab'onale of any $ignificanl transactions outside the normal course of business. A further description of our responsibiltlies for the audTt of the financial statements is located on the Financial Reporting Council's website at". wMv.frc.or .ukJaudilorsres nsibililies. This description forms part of our Auditors. report. Page 17
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmfted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BEESTON HALL SCHOOL TRUST LIMITED ICONTINUEDI Use of our report This report is made solely lo Ihe charitable comp8nls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies A¢t 20CkS. Our audit work has been undertaken so that we might slate lo the charitable company's members those matters we are required to slate 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 lo anyone other than the ch8ritsble company and ils members. as a body, for our audit work, for this report. or for the opinions we have formed. LLP Julle Grlmmer FCA DChA {Senior statutory audltor) for and on behalf of Larklng Gowen LLP Chartered Accountants Slalulory Auditors 1st Floor Rouen Road Norwich NR1 1RE 3 April 2023 Page 18
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Not8 Income from: Donations and legacies Charitable aelivilies Other trading activities Investments Other income 4,029 2,435.021 35.214 53,741 128.512) 57.770 2.406,509 35,214 4,834 96,932 2,029, 799 36,055 2, 783 41,721 4,826 Total Income 2,474,272 30.055 2,504,327 2,206, 690 Expenditurg on: Raising funds Charitable activities 17.862 2.469,564 17,862 2,469,564 14,256 2.288,235 Total expenditure 2.487.426 2,487,426 2,302,491 Net {expenditureyincome before net galns on Investments Net gains111055es} on investments (13,1541 30,055 12,861 16.901 12.861 (95,801) 10,699 Net lexpenditure}lincome Transfers beleen funds 113,154) (3.900 42.916 3.900 29.762 (85,102) 17 Net movemgnt in funds 117,0541 46.816 29.762 (85, 102) Reconciliation of funds: Total funds brought ft)rward Net movement in fvnds 1.986,226 (17,0541 199,490 46.816 2,185,716 29.762 2.270,818 (85, 102) Total funds carried fonvard 1.969,172 246,306 2,215.478 2, 185. 776 The Stslemenl of financial adivilies includes all gains and losses recognised in the year. The notes on pages 23 10 42 fofm part of these financial statements. Page 19
8EESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) REGISTERED NUMBER: 00908266 BALANCE SHEET AS AT 31 AUGUST 2022 2022 2021 Note Flxed a$¥ets Tangible assets Investments 12 13 1,791,128 143,532 1, 796,031 130,671 1,934,660 1,926, 702 Current assets Slwks Debtors 14 21.630 144.719 543.996 21,261 74.757 593,261 15 Cash al bank and in hand 710.345 689,279 Creditors." amounts falling due within one year 16 1429.5271 (430,265) Net current assets 280.818 259,014 Totsl net assets 2,215,478 2, 185, 716 Page 20
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) REGISTERED NUMBER: 0090B266 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2022 2022 2021 Note CharFty funds Restricted funds Unrestricted funds 17 246.306 1,969.172 799,490 1.986,226 17 Totsl funds 2,215,478 2, 185, 716 The Trustees acknowledge their responsibilities for complying with the requirements of the Ael with respecl lo accounting records and preparation of financial slatemenls. The financial slalemer>ls have been prepared in accordance with the provisions applicable lo entities subject to the small companies regime. The financial statements wefe approved and authorised for issue by the Twslees and signed on their behalf by.. Henriotta Llndsell Chaii Date.13 March 2023 The notes on pages 23 to 42 fomi part of these financial statements. Page21
BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarnntoe) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Cash flows from operatlng atti¥itio$ Net cash used in operating activib'es 48,081 (15,695) Cash flows from investing aclivltles Dividends, interests and rents from Investnts Purchase of tangible fixed assets Purchase of irbveslmenls Proceeds from sale of investment property 4,834 1102,1801 2, 783 (60,303) (48, 189) 435,000 Net cash (used inllprovided by investing actlvltles 197,346) 329.291 Cash flows from financlng •divities Ngt cash provlded by flnanclng activities Change in cash and cash equivalents In the year Cash and cash equivalents at the beginning of the year 149,2651 593.261 313.596 279,665 Cash and cash equivalents at the end of the year 543,996 593,261 The notes on pages 23 10 42 form part of these financial statements Page 22
BEESTON HALL SCHOOL TRUST LIMITED IA ComnY limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 General informatlon The company is a company limited by guarantee, incorporated in England and Wales, registration numbei OD908266. The registered office is Beeslon Hall. Wesl Runlon, Cromer. Norfolk, NR27 9NQ. The members of the company are the Trustees named on page 1. In the event of the company being w()und up, the liability in respect of the guarantee is limited to £1 per member of the company. Accounting pollcles 2.1 Ba$is of preparation of Ilnaneial ststements The financial statements have been prepared in accordance the Charities SORP IFRS 1021- Accounting and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Re'n9 St8ndard applicable in the UK and Republic of Ifeland IFRS 1021 leffeelive 1 January 2019}, the Financial Reporting Standard 8ppIic8ble in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Beeston Hall School Trust Limrted meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised at historical cost or Iransaclbon value unless otherwise staled in the relevant accounting policy. 2.2 Golng concern The Trustees have Considered the charivs financial position including the current level of pupils on the role and new enquiries foi places. With the sale of the investment properties after the balance sheet date and the on going support offered by the UK Govemmenl the Trustees have coneluded that they have 8 agonable expeCtatn that the charity has adequate recourees lo continue in operational existence for the forseeable future namely at least 12 months from the dale ol formal approval of these financial slalements and Ihe¥efore the Trustees Conclude il remains appropriate lo continue lo support the going Conrn basis of accounting in preparing these financial statements. 2.3 Incomg All income is recognised once the company has enlitlemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation lo donalK)ns received under Gift or deeds of covenant is recognised al the lime of the donation. Income lax recoverable in relation lo investment income is recognised al the lime the investment income is receivable. Other income is recognised in the pertod in which it is receivable and lo the extent the goods have been provided or on completion of the servKe. Fee income is recognised on tuition fees invoiced for the period. Fee in¢ome is staled after deducting scholarships, bursaries and sibling discount5. Page 23
BEESTON HALL SCHOOL TRUST LIMITED IA company limlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accounting pollcles (continued 2.4 Expendltuie Expenditure is recognise(l once there is a legal or conslwctive obligation lo transfer economic benefit to a Ihird party, il 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 lolal of direct cosls and shared costs, including support costs involved in undertaking each activity. Direct (x)sls attfibutable lo a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support costs which are not allribulable lo a single activity are apportioned betsveen those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basts of lime spent, and depreciation charges allocated on the portion of the asset's use_ Governance costs are those incuried in connection wlh administration of the company and compliance with consb.lulional and stalulory requirements. Costs of generating funds are costs Irurred in attracting voluntary income. and those incurred in trading activities that raise funds. Charitable activities and Governarbce costs are costs incurre(l on the company's educational operations, including support costs and costs relating lo the governance of the company apportioned lo charitable activities Expenditure on charrtable activities is incurred on directly undertaking the aelivities which further the company's objectives, as well as any associated support costs. 2.5 Governm¢nt grants Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure. 2.6 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 inslilulion with whom the funds are deposited. 2.7 Tanglble flxed assets and depreciation Tangibie fixed assels are initially recognised al cost. After recognilion, under the cost model, 18ngible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bllng a tangible fixed asset inlo ils intended working condition should be induded in the measurement of cost. At each reporting dale the company assesses whether there is any indication of impairment. If stJ¢h indtcation exists, the recoverable amount of the asset is determined to be the higher of ils fair value less costs to sell and ils value in use. An imp8irmenl loss is recogni*d where the carrying amount exceeds the recoverable arrN)unt. Page 24
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accountlng policies (continued) 2.7 Tanglble fixed assets and depreciation {continuedl DepreatIon is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives. Depreciation is provided on the following bases= Freehold property Hockey pitch Swimming pool Motor vehicles Fixtures and fittings Computer equipnEnl Freehold land 50 years slraighl line 15 years straight line 10 years straight line 25% reducing balance 15% feducing balance 3 years straight line Not depreciated 2.8 Investments Fixed asset inveslmenls are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured at fair value al the Balance sheet dale, unless the value cannot be measured reliably in which case il is measuied al cost less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments. in the Slalemenl of financial aclivilies. 2.9 Stocks Stocks are valued at the lower of cost and nel realisable value after making due allowance lor obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion ol fixed and vaiiable overheads. 2.10 Debtors Trade and other debtors are iecognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any Iiade discounts due. 2.11 Cash at bank and in hand Cash al bank and in hand includes cash and short-temi hhty liquid investments with a short maturity of three months or less from the date of acquisition 01 opening of the deposit or similar account. 2.12 Liabllltles and provisions Liabilities are recognised when Iheie is an obligation al the Balance sheet dale as a result of 8 past event, il is probable that a transfer of economic benefrt will be required in setllement, and the amount of the settlement can estimated reliably. Liabilities aTe recognised al the amount that the company anticipates il will pay to sellle the debt or the amunl it has received as advanced payments for the goods or services il musl provide. Page 25
BEESTON HALL SCHOOL TrUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accountlng policies (contlnued) 2.13 Flnanclal In$truments The company only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are inrtially iecoJnised al transaction value and subsequently measured at Iheir settlement value with the exceplvn of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.14 Operatlng leases Rentals paid under operating leases are Charged to the Statement of financial activities on a slraighl line basis over Ihe lease term. 2.15 Penslon8 The company is a member of Teachers Pension scheme, a defined benefit pension Scheme. The scheme is a multiemployer scheme where it is not FK)ssible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging lo individual participating employers. Thefefore. as required by FRS 102, the company accounts for this scheme as rf il was a defined contribution scheme. The amount charged lo the Slalemenl of financial activities incorporating income and expenditure aceount representts contributions payable to the scheme in respect of the accounting perM)d. The company operates a defined contribution Fension scheme and the pension charge represents the amunls payable by the company lo the fund in respect of the year. 2.16 Fund accountlng General funds are unreslrieted funds which are availab for use al the discrelion of the Trustees in furtherance of the genefal objectives of the company and which have not been designated for olhef purposes. Restricted funds are funds which are to used in accordance with specffic 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 specffic fvnd. The aim and use of each restricted fund is set out in the notes lo the financial slatemenls. Page 26
BEESTON HALL SCHOOL TRUST LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Income from donation¥ and legacles Unrestricted Restricted funds funds 2022 2022 Totsl funds 2022 Donations 4,029 53,741 57,770 Unresfri¢led funds 2021 Restricted funds 2021 To181 funds 2021 Donations 881 96,051 96,932 Income from charitable aclivltles Unrestricted Restricted lunds funds 2022 2022 Total ftsnds 2022 Net school fees (see below) Registration fees Other fee income Hire of premises 2.292.604 7,950 100.367 34.100 (28,5121 2,264.092 7,950 100,367 34,100 Total 2022 2.435,021 128,5121 2,406,509 Page 27
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmlted by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Income from charltable actlvlties {contiDued) Unr8St17Cted funds 2021 Restricted funds 2021 Total funds 2021 Net school fees (see below) Registration fees Olhei fee income Hire of prernises 1.975, 748 7.200 67.587 8,985 (29, 721) 1,946,027 T,200 67.587 8,985 Total 2021 2.059,520 (29. 721) 2,029, 799 Income from other trading activities Income from fundraising events Unrestrlcted funds 2022 Total funds 2022 Shop income 35,214 35,214 Unreslricled funds 2021 Total funds 2021 Shop income 36,055 36,055 Page 28
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guaMnte¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Unrestrlcted Restrlcted funds funds 2022 2022 Total funds 2022 Income from school fees Gross school fees Less bursaries. scholarships and discounts 3.019,421 1726.817) 3,019,421 1755,329) 128.5121 Total 2022 2,292,604 {28,5121 2,264,092 Unreslricled Restricted funds funds 2021 2021 Total funds 2027 Gross school fees Less bursaries, scholarships and discounts 2. 711,439 (T35,691) 2, 711,439 (765,412) (29, 721) Total 2021 1.975,748 (29. 721) 1,946,027 Inv95tmont income UnrestTlct¢d Restrlcted funds fund$ 2022 2022 Total funds 2022 Interest and investment dividends Bank interest reIvable 4,826 4,826 4,826 4.834 Page 29
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2022 Investment Income Icontinuedl Unrestiicted funds 2021 Restricted funds 2021 Tot81 funds 2021 Inleiesl and investment dividends Bank interest receivable 2. 778 2,TT8 2, 778 2, 783 Other Incomlng rgsources During 2021 the School received exceptional government funding as part of the Coronavirus Job Retention Seheme_ Funding represents the costs of employing certain staff unable lo carry out their duties as a sUIt of the coronavirus crisis. Funding received in 2022 was £Nil. Unrestricted funds 2021 To181 funds 2021 Coronavirus Job Retention Scheme income 41,121 41, 121 Page 30
BEESTON HALL SCHOOL TRUST LIMITED IA comp•ny limlted by guarantee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Analysls ol expendlture by expenditure type Total funds 2022 Staff costs Depreciation Othor costs 2022 2022 2022 Shop costs 17.862 17,862 Costs of raising funds Teaching Welfare Eslablishmenl Support costs 17,862 79,688 139.025 215,624 154,228 17,862 1,206,950 382,136 298.820 528,283 1.127,262 243.111 83,196 266.973 107,082 Charltable activities Expenditure on governance 1,720.542 41.537 107,082 588,565 11.838 2.416,189 53,375 1,762,079 107,082 618,265 2.487,426 Total funds 2021 Staff costs Depre¢ialion Other costs 2021 2021 2021 Shop costs 14,256 14.256 Cost$ of raising funds Teaching Welfare 14,256 44,200 109,984 182.130 117.034 14,256 1. 149,275 321,251 260,966 505, 773 1. 105,075 211,267 78.836 251,081 Establishment Support costs 137,658 Charitable actiyltles Expenditure on governance 1.646,259 40.498 137,658 453,348 10,472 2.237,265 50,970 1,686, 757 137.658 478,076 2,302,491 Page 31
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarant¢g1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Governance costs Unrestri¢ttd funds 2022 Total fund$ 2022 Auditors, remuneration Wages and salaries Social security Pension costs 11.838 32,989 4,019 4,529 11,838 32,989 4,019 4.529 Total 2022 53,375 53,375 Unrestricled runds 2021 rotal fufFds 2021 Auditors. reMUneraln Wages and salaries Social security Pension ¢osts 10,472 32,342 3, 799 4,357 10,472 32,342 3, 799 4,357 To1812021 50,970 50,970 Page 32
BEESTON HALL SCHOOL TRUST LIMITED (A company Ilmhed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 10. Ngt incomel {expendlturel This is slated after charging_. 2022 2021 Depreciation of tsngible fixed assets". - owned by the charity Auditors, remuneration 107.083 10,000 137,658 10,472 117.083 148,130 During the year, no Trustees recieved any remuneration {2021- £NIL}. During the year, no Trustees received any knefils in kind12021- £NILI. During the year, no Trustees received any feimbursement of expenses12021 - £NILI. 11. Staff costs Staff costs We as follows.. 2022 2021 Wages and salaries Social security eosls Pension contributions 1,482,303 127.403 152.373 1,412,992 120.677 153,088 1,762,079 1,686,757 The average number of pe¥sons employed by the company during the year was as follows.. 2022 No. 2021 No. 67 64 Page 33
BEESTON HALL SCHOOL TRUST LIMITED IA company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 11. Staff costs Icontlnuedl The number of employees whose employee benefits lexduding employer pension costs) exceeded £60.000 was.. 2022 No. 2021 No. In the band £80,001- £90.000 Total emoluments lo key management personnel tolalled £251.65212021- £295.6401. Key management personnel included 3 members of staff in 2021 and 4 in 2021, as well as Trustees who are not remunerated. 12. Tangiblg fixgd assets Freehold property Sports Flxtures and facllitiès fittlngs Plant & equipment Toial Cost or valuation At 1 September 2021 Additions 2.533.211 545.938 976.359 93,889 326.559 8.291 4,382.067 102,180 At 31 August 2022 2,533,211 545.938 1.070.248 334,850 4,484.247 Depreclatlon Al 1 September 2021 Charge ft)r the year 1.008A48 46,474 $30,128 1,116 732,980 48,263 314,480 11,230 2.586,036 107,083 AI 31 Au9usI 2022 1.054.922 531,244 781,243 325,710 2.693,119 Net book value At 31 August 2022 1.478,289 14,694 289,005 9,140 1.791,128 Al 31 Augusl 2021 1.524, 763 15.810 243,379 12,079 1,796,031 Included in freehold prurtY 15 land of £163.839 {2021- £163.839) which is nol depreciated. Page 34
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 13. Flxed asset investments Listed Investmgnts Cost or valuatlon Al 1 September 2021 Revaluations 130.671 12.861 At 31 August2022 143,532 Net book value At 31 August 2022 143,532 At 31 August 2021 130,671 At the financial reporting dale, the historical cost amounted to £122,189 {20214122.1891. 14. Stocks 2022 2021 Unifofms and resources 21.630 21,261 15. Debtors 2022 2021 Due wlthln ono year Trade deblois Other debtors Prepayments and accrued income 122.049 4,904 17,766 51,540 4,904 18,313 144,719 74,757 Page 35
BEESTON HALL SCHOOL TRUST LIMITED IA Company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 16. Creditors: Amounts falling due wlthln one year 2022 2021 Trade creditors Other taxation and social security Acciuals and deferred income 40.853 40,539 19,884 369,842 388,674 429,527 430,265 2022 Deferred Incomg Deferred income al 1 September 2021 Amounts released from previous periods 357,886 16,3981 351,488 Page 36
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 17. St•t¢m¢nt offunds Statement of funds- cuttent year Balance at 1 September 2021 Balance at Gainsl 31 August (Losses) 2022 Transfgrs inlout Income Expendlture Unrestrlcted funds General Funds 1.986.226 2,474.272 12.487.426) 13,900) 1.969.172 Restricted funds Whitaker Trust Beeston Foundation 138.950 {18,027) 3.900 12.861 137,684 50,987 9.553 48,082 99,069 9.553 Ampitheatre 199.490 30,055 3.900 12.861 246.306 Total of funds 2,185,716 2.504.327 12,487,426> 12,861 2.215,478 The transfer of £3,9CM) {2021'. £3.900) from genetal fvnds to the Whilaker Trust reslricled fund reflecls the interest payable on the loan betsveen the funds. Page 37
BEESTON HALL SCHOOL TRUST LIMITED (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 17. Statement of funds (continued) Statement of funds - prlor year 8818nce al I September 2020 Balance al 31 Augusl 2021 Transfers in/oul G&in&v (Losses) Income Expenditure Unrestrlcted funds General Funds 2. 135,284 2, 137.582 P,282, 740) (3,900) 1.986,226 R¢$trictod funds Whitaker Trust Beeston Foundation 103,105 21.246 3.900 10,699 138,950 25,379 7,050 45.359 2,503 (19.751) 50,987 9,553 Ampitheatre 135.534 69.108 (19,751) 3,900 10.699 199,490 Total of funds 2,270.818 2.206.690 (2,302,491) 10,699 2, 185, 716 The Whitaker Tiusl is under the control of the school and hence income and expenditure, assets and liabilities are consolidated las a restricted fund) with the reserves, assets, and liabilities of the school. The objects of the Whitaker fund are to apply rts capital and income for any purposes connected with or relating lo Beeslon Hall School. Funds are applwl al the discretion of the Whitaker Trust twslees. The Beeslon Foundation is a restricted fund comprising of donations and related expenditure. The purpose of the ftind are to raise money for future projects. to enable the growth of the school. and lo lund bursaries for children attending the school. The Amphilhealre re$lricled fund for the purpose of redeveloping the old swimming pool into an amphilheatre for musical and theatre productions. Page 38
BEESTON HALL SCHOOL TRUST LIMITED IA company limlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 18. Anatysls of net assets between funds Analysls of net assets between funds - current year Unrestrlcted Restrlcled fund$ funds 2022 2022 Total fund5 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 1.791,128 1,791,128 143.532 710,345 1429,5271 143,532 110,368 17.5941 599,977 {421,933} Total 1,969,172 246.306 2.215.478 Analysls of net assets between funds - prfor year Unrestricted fvnds 2021 Reslricled funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investrnents Current asset5 Creditor$ due within one year 1,796.031 1, 796,031 130.671 689,279 (430,265) 130.671 68,819 620,460 {430.265) Total 1.986.226 199,490 2. 185, 716 Page 39
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 19. Reconclllation of not movement In funds to net cash flow from operatlng activltles 2022 2021 Net incornelexpendilure for the year las per Ststemenl of Financial Activities) 29.762 (85, 102) Adjustments for: Depreciation Charges IGainsllLosses on investments Dividends, interests and rents from investments Profit on the sale of investment property Decreasel lincreasel in slocks Decreasel lin¢rease) in debtors (Decreasell increase in creditors 107,083 112,8611 {4,834) 137,658 (10,699) (2, 783) (8,000) 3,695 (18,851) {31,613J 13691 (69,9621 (7381 Net cash provided byl{used in} operating activities 48.081 (15,695) 20. Analysls of cash and cash equlvalents 2022 202t Cash in hand 543,996 593,261 Total cash and cash equivalents 543.996 593,261 21. Analysis of changes Sn net debt September At31 2021 Cash flows August 2022 Cash at bank and in hand 593,261 {49,26SI 543.996 593,261 {49,2651 543,996 Page 40
BEESTON HALL SCHOOL TRUST LIMITED A company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 22. Pension commitments Teachers, Pension Scheme The Tea¢hers' Pension Scheme ITPSI is a statutory, conlribulory. defined benefit scheme, governed by the Teachers, Pension Scheme Regulations 2014. Membership is automatic for teachers. All teachers have the option lo opt-out of the TPS following enrolmenl. The TPS is an unfunded scheme to which both the member and employer makes conlribulions. as a percentage of salary - these contributions are credited lo the Exchequer. Retirement and other pension benefits are paiij by public funds provided by Parfiament. Valuation of the Teachers. Pension Scheme The Govemmenl Actuary. using normal actuarial principles, conducts a form81 actuarial reVW of the TPS in accordan with the Public Service Pensions (ValuatK)ns and Employer Cost Capl Directions 2014 published by HM Treasury every 4 years_ The aim of the review is to specify the level of future conlribulions. Actuarial scheme valuation5 are dependent on assumptions about the value of futufe costs. deSn of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as al 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elemenls of the valuation and subsequent consultation ale.. employer contribution rates set at 23.68% of pensionable pay lin¢luding a 0.08% administration levyl lolal scheme liabilities Ipensions currenlly in payment and the estimated cost of future benefits) for service lo the effective dale of £218,100 million and nol*)nal assets leslimaled future contributions together with the notional investments held al the valuation dale) of £196,100 million, giving a notional past service deficit of £22,000 million the SCAPE rate, set by HMT, is used to determine the notional investment retum. The current SCAPE rate is 2.4.10 above the rate of CPI. assumed real rale of return is 2.4QA in eXsS of prices and 20/0 in eXsS of eamings. The rate of real earnings growih is assumed lo be 2.2%. The assumed nominal rale of return indudin9 eamings growth is 4.450A. The next valuation result is due to be implemenled from 1 April 2023. The employei's pension costs paid lo TPS in the year amounted lo £102.7k12021 £91.6kl. A copy of the latest valuation report can be found on the Teachers, Pension Scheme website. Defingd contribution pension scheme: The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered lund. The pension c05t charge represents contributions payable by the Company lo the fund and amounted to £49,65012021 - £61,480). Conlribulions lotalling £Nil12021 - £Nil} weTe payable to the fund al the balance Sheet éale and are included in creditors. Page 41
BEESTON HALL SCHOOL TRUST LIMITED IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 23. Operating lease commitments Al 31 August 2022 the company had commitments to make fvlure minimum lease payments under non- Can118ble operatsng leases as follows.. 2022 2021 Amounts payable: Within 1 year Between 1 and 5 years 9,297 7.563 11.784 f 1,345 16,860 23,129 24. Rel•tod party transactions 2 Trustees had chiklren at the school in the year (2021 - 3). All fees were paid under the stsndard teims of the school. During the year c051s of £Nil12021 - £7501 were incurred from Gresham's School whom Graham Able is a trustee. £Nil balance was oulslanding at the year end. During the year costs of £1,272 (2021 £456} were incurred from The Holkham Eststes Company Limited of whom The Earl of Leister is a director of. £Nil balanee was outstanding al the year end. Fees incurred from Hayes & Slorr Limited of £Nil12021- £2.5461 of whom James Palli51er is a director of. £Nil balance was outstanding at the year end. Fees incurred fiom M+A Partners of £1.260 12021 £1.8001 of whom lan Barber is a director of. £600 balance was outstanding at the year end. Page 42