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 8￿untancY. 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 suc￿sSful 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 ￿cas￿nS 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 a￿sS 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 $ch￿lS 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 (fOr￿ETty 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 eduCat￿n 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 linl10du￿d 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 Su￿ssful 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 Infom￿1, 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 exlr3ls 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 Invest￿￿nts 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 Com￿nY 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 expeCtat￿n 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 Con￿rn 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 Ir￿urred 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 Depre￿atIon 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 h￿hty 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 re￿Ivable 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. reMUneral￿n 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 pru￿rtY 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 reV￿W 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. deS￿n 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 eX￿sS of prices and 20/0 in eX￿sS 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- Can￿118ble 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 Lei￿ster 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