COMPANY NUMBER: 00937554 CHARITY NUMBER: 311711 BEAUDESERT PARK SCHOOL TRUST LIMITED (a company limited by guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
BEAUDESERT PARK SCHOOL TRUST LIMITED CONTENTS YEAR ENDED 31 JULY 2023 Page Trustees, Officers and Advisers Annual Report of the Trustees Directors, Repoil Strategic Report 6-11 Independent Auditor's Report 12-14 Slalement of Financial Activities 15 Balance Sheet 16 Slalement of Cash Flows 17 Notes lo the Financial Statements 18-28
BEAUDESERT PARK SCHOOL TRUST LIMITED TRUSTEES, OFFICERS AND ADVISERS YEAR ENDED 31 JULY 2023 DSrector8 and Charity Trustees The Trustees of Beaudeserl Park School Trust Limited I'the School l are the School's charity trustees undei charity law and the directors of the charitable company. The members of the Governing Body who seived in office as Trustees, and also any ex-Truslees who served during the year as indicated. are- Mr M Pyper Mr T Ahearne @$ Mrs S Block Mr C Casey Mr A Collins Mr S Ellioll Mr P Evill Lady R Ford Mrs K Holloway Mrs H I'Anson Mrs Jones Mis C Kay Mrs C Lough Z Lucas @ Mr J Massey Mr J Nelllelon Dr J Thompson Mrs E Walker (Chair, Resigr5ed 10 July 20231 (Appointed 14 March 20231 {Chair, Appointed 20 June 20231 (Company Secretary) (Appointed 20 June 2023) (Appointed 22 November 20221 denotes membership of Education Sub-commillee denotes membership of Finance and General Purposes Sub-committee @ denotes membership of Marketing Sub-commillee $ denotes membership of Governance and Compliance Sub-commillee
denotes membership ol Boarding, PasloraS and Safeguarding Sub-commillee
Olflcers and Professional Advlsers The Headmaster,. Mr CD Searson BA, QTS Finance Dire¢lof'. Mrs T Scrivener BA, ACA Independent Auditor.. Crtswe U.K. LLP, 41h Floor, Sl James House, St James Square Chellenham, GL50 3PR Bankers.. Lloyds Bank PLC. 12 Rowcroft, Slroud, Gloucestershire, GL5 3BD Solicitors- Harrison Clark Rickerbys Ltd. Ellenborough House, Wellinglork Slreel, Chellenham, Gloucoslershire, GL50 1 YD
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2023 The Board of Trustees present their Annual Report for the year ended 31 July 2023 under the Charities Act 2011 and Companies Act 2006, Ihus includino the Directors. Report and Slralegic Report under the 2006 Act. together with the audited financial slalemenls for the year. DIRECTORS, REPORT Beaudeserl Park School Trust Limited is a Charitable Company founded In 1908, charity number 311711, company registration number 00937554, with the liability of ils members limited lo £1 each by guarantee, The Company's Registered Ollice and principal operating address is Beaudesert Park School, Minchinhamplon. Glouceslershire. GL6 9AF. CONSTITUTION AND OBJECTS The objects ol the Company in acooidance with ils Articles of Association are the acquisition and continuance ol schools for the education ol children and the furthering of education in all respects, pariicularly as regards the development of Beaudeserl Park School. In furtherance of these Objects for the public benefit. the School has established and administers bursaries. grants, awards and other benefactions, and acts as the Iruslee and manager of property. endowments, bequests and gifts given or established in pursuance of these Objects. AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES Aims The School's principal aim is the provision of a high achieving, academically aspiring and all- encompassing educalion in a friendly family environment, which upholds traditional standards. All members of the School are actively encouraged lo achieve their true potential. The Board of Trustees is mindful of the long~51anding need lo provide public benefit and of the requirement of the Chaiilies Act 2011. Please also refer lo page 7 lor further details on the public benefit given by the School, Prlmary Objectlves The primary objectives ol the School to fulfil this aim are.. To provide a stimulating lea¥ning environment in which pupils can develop their academic potential lo the full., To provide a happy and secuie pastoral environmenl in which pupils can leain lo live together and thus foster a sense of comtnunily, co-education, respect for one another and good citizenship., To provide pupils with the OPPOTlunily lo lake advaniage of the breadth of co-curricular activities in order to develop positively all aspects ol their character., To provide financial support lo enable children whose parents are unable lo alloTd the full fees lo benefit from a Beaudeserl Park School education.. To provide a clear. simple and elleclive management structure capable of taking timely decisions and allocating necessary resources appropriately,. and To provide the necessary adminislralive and logistical framework lo meet the needs ol members of staff and pupils alike.
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2023 GOVERNANCE AND MANAGEMENT Governing Document The School is governed by ils revised Memorandum and Article5 01 A5SOC121ion, which were adopted lor use at th8 Annual General Meeting held on 7 March 2006 and amended on 17 March 2020. Governance The updated Charity Governan Code120201 was reviewed by the Trustees in 2022, and il was felt that Ro changes needed lo be made to Ihe School's governance al this point, although this will be kept under ieview. Governing Body Thè melhod of appointment of new Trustees is by invitation by the Board. Trustees are elected al main Board meetings following nominations from existing Trustees lor candidates possessing the necessary competencies, specialist skills. eligibility and availability. Trustees are appointed for a 3-year term bul can seek re-election for up lo a further two 3-year terms. Any extension beyond nine years requires the approval of the full Board. There is a school policy relating to the appointment and re-election ol Truslees. In line with a special resolution passed on 17 March 2020. the maximum number of Trustees was increased lo 18. Trustee Training New Trustees are inducted into the operation of the School and the requirement for compliance with company legislative and ¢h2rilable regulations through specific orientation sessions organised both at the School and elsewhere. Trustees have attended suitable updates or briefings on new legislative requirements. The full Board has received training in safeguarding, the expectations of the Independent Schools Inspectorate, and aspe¢ls of good practice. Trustee Monitoring A number of Trustees, acting in rolalion, vi51t the School each term lo scrutinise the School's performance in key areas and monitor progress 2nd development in relation to slated aims and the targets set out in the School Development Plan. Organlsatlonal Management To ensure that the Trustees have adequate suitably detailed knowledge of the operation of the Sohool, ils policies and ¢ompliance with all the necessary company and charitable legislation, each Truslee belongs lo either the Education, Finance & General Purposes, Governance & Compliance, Boarding, Pastoral & Safeguarding or the Marketing sub-commitlees., their appointment lo the Governing Board and respective sub-commillee refle¢ls their individLtal areas ol expeitise. These 5 sub-commillees normally meet termly prior lo each main Board meeting. They are responsible for reviewing annually the School Policiès and risks relating lo their area ol responsibility. They are also responsible for monitoring and evaluating the rolevant se¢lion ol the School Development Plan which is prepared annually by the School's management. The main Board Ineels termly lo review and appiove the sub-commillees, work and the overall policy for the management. lun¢lioning and development of the School, for which they have a legal responsibility. The day-lo-day running of the School is delegated to the Head and the Finance Director. wilh support from the Depuly Head and the Head of Pre-Prep along with olher senior staff. Remuneration is set by the Boaid for all staff. Established pay scales reftecl skills, experience and responsibi5ily, while the School aims lo encouiage enhanced performance and. in a fair and responsible maiiner, reward individLJal contributions lo the School's success.
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who ale also Directors of Beaudeserl Park School Trust Limited for the purposes of company lawl are responsible for pieparing the Trustees, Annual Report and the financial 51aletnenls in accordance with applicable law and United Kingdom Generally Accepted Accounting Praclice {Uniled Kingdom Accounting SlaTrdardsl. Company law requires the Trustees to prepare financial slalemenls for each financial year. Under company law the Trustees musl not approve the financial statements unless they are 5alisfied Ihsl they give a true and lair view of the stale of allair5 01 the Charitable Company and of the incoming resources and application of resources. inclucsing the income and expenditure, of the Charitable Company for that period. In preparing these linancial slalemenls, the Tluslees are required lo". select suitable accounting policies and then apply them consistenlly., observe the methods and principles in the Charilies SORP., make judgements and estimates that are reasonable and prudent., slate whether applicable UK accounting stand3rds have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., and prepare the linancial slalemgnts on the going concern basis unless il is inappropriale lo presume that the Charitable Company will continue in business. The Trustees are responsible for keeping adequate accounting records th81 are sufficient lo show and explain the Charitable Company's Iransaclions, disclose with reasonable accuracy al any lime the financial position of the Charitable Company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006 and the provisions of the Charity's conslilulion, They are also responsible lor safeguarding the assets ol the Charity and hence for lakillg reasonable steps for the prevention and detection of fraud and other irregularities. So lar as the TrLSStees are aware, there is rno relevant audit information of which the Charilable Company's auditors are unaware. The Truslees have each taken all the steps that they ought lo have taken as Trustees in order to make themselves aware of any relevant auclil information and lo establish that the Charitable Company's auditors are aware of that informalion.
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 STRATEGIC REPORT MISSION STATEMENT The School's mission is to provide a high achieving, academically aspiiing education, a broad programme of ¢o-¢urricular aclivilies, higli level ol pastoral care. and a flexible approach lo aller school care and boardiiig. The happy family alm05phere. which upholds traditional standards, is clearly evident. Beaudeserl is independent of any senior school and parents and children are given unbiased support lo help them choose and prepare for Iheii next stage ot education. The purposeful, nurturing and SLtpporlive environment ensures children leave having gained not only an outslanding all- encompassing education bul also personal qualilies, confidence, friendships and memories which will last a lilelime. STRATEGIES TO ACHIEVE THE PRIMARY OBJECTIVES The Board's main objective for the year continued lo be the education of the School's pupils aged between 3 and 13 10 11)e highest possible standard, so that they will succeed with their application lo. and subsequent careers in, their chosen senior schools. To assist in achieving this objective. the Board's sliategy was lo maintain 2nd improve the phygic81 buildings and assets of the School and maintain the appropriate nL)mber and quality of motivated staff lo deliver the widest and most appropriate curriculum to ils pupils. ACHIEVEMENTS AND PERFORMANCE Inspection The School successfully underwont a Regulatory Compliance Inspection by the Independent Schools Inspeclorale IISII in June 2022. The Koy Findings were as follows.. 'The School meets the standards in the schedule lo the Education Ilndependenl School Standards) Regulations 2014, the National Minimum Standards for Boarding Schools 2015, and relevant requirements of the statutory framework for the Early Years Foundation Stage, and associated requirements, ancs no further action is required as a result of this inspection. The previous Inspection in November 2017 dealt with both Regulatory Compliance IfiNdings as above) and the Quality of Education which covered all aspects of school life, The parl dealing with Quality of Education focussed on key outcomes.. the achievement of the pupils, including academic development, and the personal development of pupils. The School was graded Excellent in both categories, this being the highest of four gradings that can be awarded. Review of achievements and performance for the year Of the 55 Year 8 leavers, all went on to their first choice of a wide variety of senior schools. which tolalled 17 this year. Additionally, 21 of these pupils were awarded scholarships OT exhibitions reflecting their prowess in either the Academic, Drama. Arl. Design Technology, Music, or Sporting disciplines. Elsewhere in the School the overall academic achievement was similarly buoyant, with drama. music, aTI and sport featuring most extensively in the lile of the School's pupils. Year 5 experienced a three day combined History and Geography fieldlrip to Devon in March. Year 7 undertook the personally challenging week's outward bDund course in September and a French educational Ifip in June. The Year 8 leavers underlook a week of adventure and fun in Cornwall, as part of their post Common Entrance programme, whtch enabled them lo spend some special lime together before heading off to their various senior schools. Faclllties Recently completed facilities, particularly the Performing Arls Centre 120151, the Libiary 120161, the Qube Classroom block120171, a second ICT suite (20171, the resuffacing of the aslroturf120181 and the resloralion of the Victorian pond120191, have all continued to serve an excellent educational facility, enhancing the children's learning experiences. In 2020 the School began a programme of refuTbishmenl of existing classrooms with the firsl four lassTooms completed in the 2020121 academic year an two further classrooms refurbished in 2021122.
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2023 A new canopy was also constructed lo partially cover the Reception year outdoor play area to extend use of this facility through all seasons. In the sutnmer of 2021 fuilher improvemenls were made to the Pre-Prep outdoor play aieas including the addition of some all-wealher aslrolurf lo the NurseTy play area and willow fencing to enclose the Receplion year outdoor area. In addition, the boys, boarding facilities were renovaled lo create bright, light and inspiring bedroom spaces. In the autumn term of 2021 the School's mini-aslrolurf was resurfaced and new ielraclable cricket nels installed enabling this area lo be used as a mulli-use sporting facility. In the summer of 2022 the hardcou(Is were also resurfaced with a new larmac layer covered by a Ihin carpel which enables the space lo be used for hockey and ball sports whilst still remaining suitable for tennis and netball, thus widening use of this facility across the school year. Publlc benellt Beaudeserl Park School remains commilled to the aim ol providing PLJblic benefit in attcordance wilh ils founding piinciples. Charity law has introduced 2 requirement lo demonsliale public benefit for charitable purposes where il has hilherlo been presumed itk the absence of evidence lo the conliary. This calls in turn for more detailed disclosures concerning our activities. Educational The independent sector as a whole, and Beaudeserl in particular, provides excellence in 'challenging subjects.. While nationally the number of children studying languages has declined, the School continues lo teach all children modern foreign languages. All children are screened for Special Educational Needs. The provision of specialist support lo those ideiilified with needs is in itself a public good. As parl of the School's developmenl and improvement planning the standards of the School's education are reviewed annually against nalional benchmarks and the School's educational provision exceeds those benchmarks. The School UBes ils own resources lo recruil people into Ihe teaching profession. then lo induct and train them. They are aclivety assisted in achieving Qualified Teacher Status, which allows leacheis to move lo Ihe maintained sector should they wish. Wider communil and arlnershi The School is constantly seeking new ways in which to deliver ils charitable objects lo young people wilhoul regard lo wealth, race. religion. social or academic slalus. The School has developed and continued links with Qui local community including.. Access to facilities for schools in the maintained sector, for example developing links with Avening Primary School, Brimscombe Primary School and Acorn School to ulilise the School's pool for swimming lessons. Access lo facilities for local childien's spoils teams, for example access lo the School's aslrolurf for evening training for Minchinhampton Under 9's. Under 11's and Under 13's fooiball teams, and access lo the School's playing fields lo host the Gloucestershire Cricket Board's week long Under 10's cricket festival. Access lo the swimming pool for the local community in the early mornings, evenings and at weekends, includlng for children of primary School age lo use 2nd learn to swim through the Saturday Swim School. Access lo the School's music facilities for local children when il acts as a centre for Associated Board for Music Exams. Charity fundraising bolh in terms of money raised and collections, such as supporting the Macmillan Cancer Coffee Morning, colSecling food through our Harvest Festival service for Stroud Foodbank, collecting toys ar)d gifts for Operation Christmas Chikl, and raising funds for Children in Need and the British Legion. Again this year. 80 children look part in the Restless Development Children's Irialhlon al Clifton College that raised almost £9,000. The return of our annual charity shopping fair also saw £8,OQO raised for local Nailsworlh charity Road for Good. Howevei, our main focus for fundraislng thls year w2s for our nomlnaled charity, OSCAR Inlefnalional, based in Mumbai, India. OSCAR supports and helps underprivileged girls and boys from the slums in India lo become iole models within
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2023 their communities, and supports their education through their love of football. Our fundraising efforts throughout the year raised £24,465 for OSCAR to support children based in India, bul also to help fund a football lour for 14 girls and boys coming lo the UK in October 2023. We look forward to hosting them al BeaudeseTI as pail ol their lour. During thè year the School continued ils link with Widden School, a multicultural primary school in Gloucester. Pupils from Year 4 in each school experienced the environment of the other lo gain an underslanding of the live5 01 others from different backgrounds and cultures. Environmental and suslainabilit The School is commilled to educating ils pupils about environmental and sustainability issues. Children from Nursery to Year 3 have Forest School lessons, while Ecology is also laughl from Year 3 to Year 5 as a dedicated subject. Our Eco-commitlee once again achieved Green Flag status for the School having underiaken various Eco-school projeets encompassing healthy living, energy and marine support. Meal Free Mondays take place al lunchtimes, following Child- led requests lo do so. More wiclely, learning about the environment and mallers of suslainabilily are embedded within Ihe Science curriculum and our programme of assemblies. The renovation and restoration of the Victorian pond encourages ecological inlerÈsl and ¢ommilmenl amongst the pupils. A recently acquired field has been sel aside as a wildflower meadow and native trees and hedge species have been planted to encourage more wildlife. During the 2022123 academic year the School Commissioned an Estate Decarbonisalion Plan and will use il lo help formulate a long-lerm strategy to achieve Net Zero carbon. Financial and access Bursaries -11 is important lo us that access lo the educalioTr we offer is not reslricled lo Ihose who can afford our fees. The School's buisary policy has been aulhorised by the Trustees and lorms part of the School's public benefit strategy which contributes lo a widening of access to the education we offer and the facilities we enjoy. The aim of the bursary PDlicy is lo ensure Ihal prospective and current parents are aware of Ihe bursary provision and the process by which they can apply. The Trustees are committed to assisting access lo the School by olleTing means-tesled financial support with the paymenl of school fees. Bursaries may be awarded in the form of a discount of up to 100°/o of the day luilion fees, depending on the rinancial circumstances of applicants. The School supported 19 children with financial help during the year amolsnling to fee as5islaRce of £134,397 {2022.. £177,374). To ensuie Ihal music advancement is appropiialely encouraged lo the highest levels. pupils who have atlained Grade 5 in any particular instrument are offered subsequent flee music luilion for that instiument amounting lo £500 in the year for 2 pupils [2022.. £332 lor 7 pupil). In the furlheiance of these aims Beaudeserl PaTk School Trustees have complied with the duly in s.17 ol Ihe Charities Act 201110 have due regard lo the Ch8rily Commission's published general and relevant sub-seclor guidance Concerning the operation of the Public Benefit requirement under the Act.
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2023 FINANCIAL REVIEW Results for the year The School's operaling surplus lor the year was £438,486 (2022.. £71, 60Q) which included donations of £13,103 (2022.. £3.5001 as below. The School's total unreslri¢led surplus for the year was £448,612 (2022.. £105, 162) and is equivalent lo S.8QA of lolal income (2022.. 1. 5Yo). Fiindraising performance No formal fundraising for the School has been undertaker¢ in 2022-23. The majority of the donated income in the year las in the prior year also) was from f8milies donating their deposits when Iheir child left the School. The School has a separale volunteer parent body. the Friends of Beaudeserl, which aims lo organise social events for parents at5d pupi15. The Friends also undertake some general fundraising aclivilies, mosl tkoiably the annual Aulumn Fair held on sile al the School, thè proceeds ol which afe donated lo a charity of their choice. Regarding 'normal' fundraising aclivilies. the School does not use professional fLtndraisèrs or have any commercial pailicipalors. All fundraising a¢livilies are mana9ed by the School Ollice and monitored by the Finance Director, wlh overall oversight by members of the governing body. No complaints relating lo fundraising were received by the School during this financial period. However, the School has in place procedures that would be followed in the event of a complaint being received with the initial response bping the Tesponsibilily of the Finance Director. Any continuing issues would then be passed lo the governing body lo determine what further action might be required. The School does not subscribe to any specific fundraising standards 01 schemes for fundraising regulation bul considers that il has sel appropriate standards for the operation and management of ils fundraising aclivilies. In particular, the School considers that ils processes and controls should ensure that vulnerable pèople and other members of the public are protected from any unreasonable intrusion on a person's privacy and that no fundraising activities would be unreasonably persislenl or place undue pressure on a person lo give money or other properly. Investment pojlcy, objèetlves andperformance All liquid resources are secured in fixed lerm cash deposits and current bank accounts pending the need for the funds for working capital, future building, maintenance and development programmes. The School currently does not have any other form ol investments. Reserves level and pollcy The Trustees, policy is over lime lo build up free reserves {General Funds less Tangible Fixed Assels} out of annLJal operating SLJrpluses towards a level equivalent lo not more than a term's expenditure Icirca £2ml. This reflects the need lo cover Ihe risks and uncerlainlies of operating as an independent educational establishment, bul will be subject lo the prior demands of capital expenditure programmes to equip the School with the up.lo-dale facilities needed lo maintain the standard of educational services currently provided. Going fotward, and wlhin the objectives of the policy, the Trustees will use ils credit facility and any like il to lund further small capilal developments as and if required. The School's unreslricled funds stood at £10.Om {2022.' £9.5ml al the year end with free reserves of £1.7m (2022.. £1.Om). Unresliicted funds are used lo fund the School's premises and equipment lolalling £8.2m. nel of the School's working capital and cash ieseTves. Day lo day working capital needs were mel by careful managetnenl ol the School's liquid resources. The School's reslricled funds of £41,814 (2022.. £51,940) wll be used lo fund means-lesled Bursaries going forward. The School also has a designated fund of £70,591 (2022.. £57,800) which is designed to fund the reslricled fund lor means-lesled Bursaries il the need arises.
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 FUTURE PLANS The School continues to plan lo provide the most stimulating and all round education lo ils pupils and i th81 regard aims to increase, enhance and maintain its educational resources and facilities to provide the most mDIIv21ing learning environment. During the Course of the academic year 2019120 a new 5 Year Strategic Development Plan was agreed in consullalion with all staff and members of the Board of Governors. This was formally launched in the summer of 2020 to guide the School's planning through lo 2025. 11 includes the devèlopment of the School's academic, pastoral and boarding provision, with particular f(Kus on charaGter development, breadth of opportunity and the enhancement of communily, charity, divèrsity and environmentsl awareness. Appropriate development of facilities to support these aspirations is also included. RISK MANAGEMENT The Truslees have given consideration to the major risks to which the School is exposed. The Governing body has ultimate responsibility for m8naging any risks faced by the School. Detailed consideration of risk is delegated lo the Governance & Compliance Committee, and from there lo the other sub- commiltees of the Board for Ihe areas relevant to each of them, ieporling formally lo Ihe Board each year. Routine management of risk is delegated lo the Head and Finance Director, supported by the Senior Leadership Team. The iisk management process and the resulting risk iegisler identifies risks, 8ssesses their impacl and likelihood and, where necessary, recommends corilrols lo miligale and monitor risks, in particular those assessed as high. Principal risks The Board continues to identify and review the major risks lo which the School is exposed. In paiticular. the School recognises three principal risks, summarised below.. Loss of Financial S&cuiily External forces, includino economic factors such as inflation, energy prices, Costs of living and potential changes in government policy toward independeTrl schwls such as removal of charitable reliefs 2nd the imposition of VAT on fees, may combine to undermine affordability foi parents and the financial resources andlor operating mode1 of the School. The key controls to mitigate this risk are.. Maintaining an effective financial planning framework, including detailed scenario analysis, cost and investment spending disciplines. financial controls and reserving policy. Spending on resources required lo maintain high educational standards while raising lee levels by the minimum amount lo do so. Providing bursary support in certain cases where families require il to benefit from the School. Ulilising external advice from relevant associations (including ISC, AGBIS, ISBAI and profess¢onal providers, as necessary. Loss of Repulalion due to Falling Educational Standards High educational standards are a pre-requisite lo ensure the excellent reputation of the School is preserved. The key controls lo miligale this risk are.. Efleclive structures for school manaoemenl, communication and reporting. Employing, retaining and training excellent leaching staff. Disciplined programme for staff appraisal and monitoring. Resources. lime and PTiorily given lo staff wellbeing. Maintaining the quality of conlingenl remote learning provision. Failur8 to Comply with Slatulory Regulalions In order lo provide a safe environment for pupils, staff and other vi511ors as well as appropriate levels of education, the S¢hool is required lo comply with a vaTiely of slalutory regulations. The key controls lo miligalè this risk are.. Comprehensive policies and procedures. reviewed by Governors. the Head and the Finance Director al least annually and familiar lo slafl as necessary for their roles. io
BEAUDESERT PARK SCHOOL TRUST LIMITED ANNUAL REPORT OF THE TRUSTEES (CONTINUED} FOR THE YEAR ENDED 31 JULY 2023 Internal and exleinal reviews and checks, with the necessary resources provided, lo confirm compliance with laws, guidelines and good praclise. Relevant and adequate insurances in place, reviewed annually by the Governance & Compliance Committee. Ongoing Iraining, including as diclaled by changing regulal¢on. Clear and established safeguarding protocols. procedures. controls and roles. The Trustees believe that the School's financial resources, contingency planning and management of risks are sufficient lo ensure the ability of the School lo continue as a going concern for the foreseeable lulure. AUDrroR In a¢¢ordance with Section 485 of the Coinpanies Act 2006, a iesolulion proposing Crowe U. K. LLP'S reappoinlmenl as auditor will be pul lo the Annual Gene¥al Meeting. This Annual Report, prepaTed under the Charities Act 2011 and the Companie5 Act 2006, was approved by the Governing Bady of Beaudeserl Park Sch(x)l on 11 March 2024, including in their capacily as company directors approving the Strategic Reporl contained therein, and is aulhorised on its behalf by-. Mr S Jones Chair of Trustees li
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEAUDESERT PARK SCHOOL TRUST LIMITED Opinion We have audited Ihe financial slalemenls of Beaudesert Park School Trust Limited ft)r the yeaf ended 31 July 2023 which comprise the Statement of Financial Aclivilies, Balance Sheet, Statement of Cash Flows and notes lo the financial slalemenls. including a summary of significant accounting policies. The financial ieporling framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 the Financial Repoiling Standard applicable in the UK and Republic ol Ireland (United Kingdom Generally Accepted Accounting Practice}. In our opinion the financial stalemenls", give a true ar¢d lair view ol Ihe stale of the charitable company's affairs as al 31 July 2023 and of the incoming resources and application of re50urGes, including ils income and expenditure for the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted OUT audit in accordance with International Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibililies under those standards are furlher described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the ¢harilable company in accordance with the ethical requirements that are relevant to our audit of the financial statements In the UK, including the FRC'S Ethical St2ndard, and we have fulfilled our other elhical responsibilities in accordance with these requiremenl8. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slalemenls. we have concluded that the Trustee's use of Ihe going concern basis of accounting in the prepaialion ol the financial statements is appropriate. Based on the work we have perlormed, we have not identified any material unceitsinlies relating to events or conditions that, individually or colleclive5y, may cast signilicant doubl on the charitable compat)y's ability to continue as a going concern for a period of at least twelve months from when the financial slalemenls are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the ielevanl seclions of this report. other information The Trustees are responsible for the other information contained within the annual report. The other information comprises Ihe information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial staleinenls does not cover the other information and, except lo the exlenl olhefwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the olheT information and, in doing so, considèi whether the olhei information is materially inconslstent with the financial statements or our knowledge obtained in tlie audit or otherwise appears lo be materially mlsstaled. 11 we idenlily such material inconsistencies 01 apparent material misslalèmen18, we are required lo determine whether this gives rise to a material misstatement in the lin2ncial slalemenls Ihomselves. If, based on the work we have perlormed, we conclude that there is a material misstalemenl of this other information, we are required to report that fact. We have nothing lo reporl in Ihis regard. 12
Opinions on other matters prescribed by the Companies Act 2006 Ill our opinion based on the work undertaken in the course of our audit (he information given in the Trustees. report, which includes the diieclors, report and the strategic report prepared for the purposes of company law. for the financial yeai for which the financial slalemenls are prepared is consislenl with Ihe financial slatemenls., and the strategic report and the diiectOTS' reporl included within the Trustees. report have been prepared in accordance with applicable legal requireTnerkl5. Matters on which we are Yequired to report by exception In light of the knowledge and understanding the charilable company and their environment obtained in the course of the audit. we have nol identified material misslalements in the slralegic reporl or the directors, report included within the Trustees, report. In light of the knowledge and understanding of thè charitable company and Iheii enviionmenl obtained in the course of the audil. we have not identified material misslalemenls in the strategic repoil or the directors, repoil included within the Trustees, report. We have nothing lo report irb respect of the following mallers in relation lo which the Companies Act 2006 requires to report lo you if, in our opinion.. adequate accounting records have not been kept., or the financial slalemenls are not in agreement with the accounting records and returns., 01 certain disclosures of Trustees. remuneralion specified by law are not made., or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees As explained more fully in Ihe Trustees, resFX)nsibililies slalemenl on page 5 the Trustees (who are also the direclo¥s of the charitable company for the purposes of company lawl are responsible lor the prepaiation ol the financial slalemenls and loi being galisfied that they give a true and fair view, and for such inleinal conlrol a5 the Trustees determine is necessary lo enable the preparation of financial slalemeals that are free Irom material misslalemenl, whether due to fraud or error. In preparing the financial stalemenls, the Tiuslees are Fe5ponsib1e for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the Truslees either intend lo liquid21e the chafilable company or to cease operations, or have no iealislic allernalive bul lo do so. Auditor's responsibllltSe8 for the audit of thè financlal statemènts Our objectives are lo obtain reasonable assurance about whether the f1nancial slalemenls as a whole are free from malerial misstaleillent, wlielher due lo fraud or error, and lo issue an auditor's reporl that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detecl a material misslalemenl when il exisls. Misstalemenls ¢an aTise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions ol users taken on the basis of these financial slalemenls. Extent to which the audit was consldered capable of detecting Irregularities, includlng fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations, We design procedures in line with our responsibilities, outlined above, to detect material misslalemenls in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. We obtained an understanding of tho legal and regulaloiy frameworks within which the Charitable 13
Company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context were The Education (Independent School Standards) Regulations 201[4] .
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be with the completeness and accuracy of bursaries, remissions and other fee concessions, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, The Finance Director and the Finance Sub-Committee about their own identification and assessment of the risks of irregularities, sample testing on bursaries, remissions and other fee concessions, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council's website at: www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Tara Westcott Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor 4[th ] Floor St James House St James Square Cheltenham GL50 3PR
Date: 21 March 2024
14
BEAUDESERT PARK SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating a Summary Income and Expenditure Account) FOR THE YEAR ENDED 31 JULY 2023 Unrestricted Funds Restricted Funds 2023 Total 2022 Tolal Notes INCOME FROM: Charitable actlviti6s School lees receivable Ancillary Iiading income Other income Donations & Grants Receivable Other tradlng actlvlties Hire of School facilities Investment income Other Sncome 6,954,763 575.978 34.939 6,954,763 575,978 34,939 8,358 6,420,761 456,094 12,551 3,500 8,358 87.986 37,720 17.804 87,986 39,561 17,804 77,582 1,841 7,805 6,978,299 Total incomè 7,709 190 10,199 7 719,389 EXPENDITURE ON: Charitable actlvlties.. Education 7,276 678 20,325 7,297,003 6,906,699 Total expendlture 5alb 7,276,678 20.325 7,297,003 6,906.699 Net income I lexpondlturel and net movement in funds 432,512 110,1261 422,386 71,600 Funds brought forward 12113 9,536,065 51,940 9.588,005 9,516,405 Funds carrled forward 12113 9 988,577 41,814 10 010,391 9,588, 005 The notes on pages 18 10 28 form pafl of Ihese financial statements. 15
BEAUDESERT PARK SCHOOL TRUST LIMITED COMPANY NUMBER: 00937554 BALANCE SHEET AS AT 31 JULY 2023 Note 2023 2022 FIXED ASSETS Tangible fixed assets 8,188,082 8,462.120 CURRENT ASSETS Stocks Deblors cash and deposi15 18,891 495,091 2,490.881 3,004,863 35,618 486,510 1,922, 671 2,444, 799 CREDITORS lamounls falling due within one year} 857,909 805.713 NET CURRENT ASSETS 2,146,954 1.639, 086 TOTAL ASSETS LESS CURRENT LIABILITIES 10,335,036 10. 101,206 CREDITORS lamounts falling due after more than one yearl 10 324,645 f513.201 NET ASSETS 10.010,391 9,588, 005 FUNDS: Reslricled Unreslricled.. Designated General 13 41,814 51,940 12 12 70,591 9 897 986 57,800 9,418,265 TOTAL FUNDS 10,010,391 9,588,005 The financial slalemenls were approved and aulhorised for issue by the Board of Trustees on 11th March 2024. and were signed on ils behalf by: Mr S Jones Chair of Trustees The notes on pages 18 10 28 form parl of these linancial slalemenls. 16
BEAUDESERT PARK SCHOOL TRUST LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2023 2023 2022 Cash flows from operating activltles.. Nel income for the year 422,386 71.600 Adjustment5 for: Interest received Finance costs Profil on Sale of fixed assets Depreciation charge5 Decrease in stock Ilncreasel in debtors (Decreasel in creditors (OecFeaselllncrease in fees in advance {39,5611 3,012 1.3501 502,871 16,727 {8,SB11 125,7131 110647 (6J 2.950 475.823 1.830 (30.994) (65, 134) 74. 783 Nel cash provlded by operating activities 759,144 530.852 Cash flows from Investing activities.. Purchase of tangible fixed assets Proceeds Ironi sale ol tangible fixed assets Interest received 1228,8331 1,350 (440, 180) Net cash used in invasting aetlvlties 1187,922) (440, 174) Cash flows from financlng actlvities: Finan costs paid 3.012 Net cash used in financlng activities 3,012 2.950 Change In cash and cash equ5valents in the year 568,210 87,728 Cash and cash equivalents at th8 bÈglnnlng of the year 1,922,671 1,834,943 Cash and cash equivalants at Ihe end of the year 2 490,881 1,922,671 Notes to the Statement of Cash Flows ANALYSIS OF CASH AND CASH EQUIVALENTS At l August 2022 Cash Flow At 31 July 2023 Cash in hand 2nd al bank Short term deposits Total 1,432,671 490,000 (836,599) 1,404.809 596,072 1894,809 2,490,881 t,922,671 568,210 The notes on pages 18 to 28 form parl of these financial slalemenls. 17
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ACCOUNTING POLICIES CHARITY INFORMATION Beaudeseil Park School Trusl Limited is a registered charity with the Charities Commission England and Wales Icharily number.. 3117111 and was incorporated as a private company limited by guarantee (company number.. 009375541. The address ol ils registered ollice is Beaudeseil Park School, Minchinhamplon, Gloucestershire, GL6 9AF. BASIS OF ACCOUNTING The financial slalements have been prepared under the historical cost convention. The financial slalements have been prepared in accordance with the Charities Act 2011, the Companies Act 2006, the Slalemenl of Recommended Practice applicable ID charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic Df Ireland (FRS 1021- and the Financial Reporting Standard applicable in the UK and Repiiblic of Irelarid (FRS 1021. 8eaude5erl Park School Trust Limited meets tho definition of a public benefit enlily under FRS 102. GOING CONCERN The Goveinors have undertaken planning and forecasting for al the least the next 18 months and continue lo closely monitor the economic and polilieal situation. Despite the current circumstances the Governors believe that the School's financial resources and contingency planning is sufficient lo ensure the ability of the School lo continue as a going concern for the foreseeable future. being al least twelve months from the date of approval of these linancial statements and therefore have prepared the financial statements on a going concern basis, dl INCOME All income is recognised in the Slalemenl of Financial Activities when the conditions for receipl have been mel and there is a probability ol receipt. The following accounting policies are applied lo income.. School Fees and Simllar Income School fees represent gross fees receivable. including fees for extracurricular activities less allowances, bursaries and other remissions granted by the School. Investment Income Inveslinenl income is taken into account in the financial period in which il is due lo be received. Donations & Grants Receivable Donations are recordèd in the Slalemenl of Financial Aelivities when the School has entillemenl lo the funds, any performance conditions allached lo the items have been mel, il is probable that the income will be received and the amount Can be measured reliably. Where donations are reiVed only lo be used for a specific PLJrpose they are allo¢aled to the appropriate reslricled fund. Grants from government bodies and other sources are received for specific projeclslcosls and are recognised in accordance with their individual terms and conditions. Income is recognised when the School has entillemenl lo the funds which is when any perforinance conditions allached are mel, il is probable that the income will be received and the amount can be reliably measured. Grant income will be deferred if received in advance of meeting performance conditions or if the fLJnder speeilically slates that the income musl be spent in a future accounting period. EXPENDITURE Expenditure is acorued as soon as a liability is considered probable. Expenditure is allocated lo expense headings on a direct cost basis, with staff costs being allocated ac¢ording lo the estimated lime spent by staff working in relevant deparlmenls. The irrecoverable element of VAT is included with the item of expense lo which il relates. Governance cosls include costs involving the trustees and the direction of the School and are included within support Costs. 18
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ACCOUNTING POLICIES Icontlnuedl FUND AccouNTING The SchDoI maintains various types of funds as follows- Restricted Funds Restricted funds represent grants, donations and legacies received which are allocated by the donoT lor specific purposeg. General Funds General funds are uRresliicled fud5 iepresenlir¢g funds which are expendable al the discreliol) of the Trustees in the furtherance of the objects of the School. Such funds may be held in order lo finance both working capital and capital investment. Deslgnat8d Fund5 Designated funds comprise unreslricled funds that have been sel aside by the Governing body for pailicular purposes. The aim and use of each designated fLJnd is sel out in the notes lo the f1ngn¢ial slalemenls. gl TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets are slated al cost less depreciation. Depreciation is nol provided on freehold land. On other assets depreciation is provided on cost IN equal annual inslalmer)Is ovei the eslimaled economic lives of the asse15. The rates ol depreciation are as follows.. Freehold Buildings Plant and Machinery Computers Fixtures, fillings and equipment 2.fjOOk straight line 20-50Vo straight line 10.33.3010 sliaighl line 15Vo slraighl line Expenditure on fixed assets is capilalised except foi expenditure incurred on the replaeemenl of assets of low value with a short life. Repair, renovation and replacement expenditure is wrillen off as expenditure in the Slalemenl of Financial Aclivilie5. Items costing less than £500 are writlen ott as an expense as acquired. Assets in the couise of constitjction are included al cost. Depreciation on these assets is not charged until they are brought into use. h) STOCKS Stocks are slated in the Balance Sheet al the lower of Cost and net realisable value. DEBTORS Short term debtors ale recognised al the selllement amount after any impairment. CREDITORS Shoil term creditors are normally recognised al their selllemenl amoEJnt after allowing for any trade discounls, kl ADVANCE FEE SCHEME CREDITORS Amounts received under the School's Advance Fee Scheme corklracls lor education not yel ulilised lo sellle school fees are recorded as deferred income and a51ocaled as liabilities where the education will be provided in subsequent years. CASH AT BANK Cash is represented by cash in hand and deposits with financial inslilutions. m) TAXATION The School is a registered charity and, as such, is enlilled lo laxalion exemptions or) all ils income and gains properly applied for ils charitable purposes. 19
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ACCOUNTING POLICIES Icontinuedl VALUE ADDED TAX Under current legislation the School remains unable lo recover any value added tax Charged by suppliers. All such lax has been included in the financial slalemenls with the expenditure to which il relales. OPERATING LEASES Rental costs under operating leases are chargèd to the Slalemenl of Financial Activities in equal annual amounts over the periods of the le2ses. pl PENSION COSTS On 31 Decetnbei 2019 Ihe School withdrew from the Teachers, Pension Scheme and now operates a defined contribution scheme for all ils staff, the assets of which are held separately from those of the School. The pension cost charge represents contributions payable by the School lo the scheme. ql LIABILITIES Liabilities are Tecognised once Ihgre is a legal or conslruclive obligation that commits the School lo the obligation. FINANCIAL INSTRUMENTS The School only has financial assels and financial liabili11ès of 8 kind Ih?I qualify as basic financial inslrumenls. 8asic financial instruments are initially recognised al transaction value and subsequently measured at their setllemenl value. JUDGEMENTS IN APPLYING AccouNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY Estimates and judgements are ¢onlinua15y evaluated and are based on historical experience and other factors, including Èxpeclalions ol future events that are believed to be reasonable under the circumstances. The items in the finan¢ial slalemenls where these eslimales and judgements have been made include the following.. Useful èconomic Ilves of tangible fixed assets The annual depreciation charges for the tangible fixed assets are sensitive to changes in the eslimaled useful economic lives and residual values of the assets. The usèful economic lives and residual values are re-assessed annually. They are amended when necessary lo rellecl current eslimales, based on economic ulilisalion and the physical condition of the assets. See note 7 for the carrying amount of the tangible lixed assets and note 1 g for the useful lives for each class of asset. Impairment of debtors The School makes an estimate of the recoverable value of Irade and olhei debtQfS. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 8 fof the nel carrying amount of the debtors and associated impairmenl provision. 20
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 CHARITABLE ACTIVITIES- FEES RECEIVABLE Fees receivable represent gross school fees invoiced less discounts and allowances. 2023 2022 School fees Discounts and allowances.. Fee support Fees less discounts 7,068,835 6,561,073 134,397 6.934.438 177,374 6,383,699 Add Back.. Buisaries and other awards paid for by reslricled funds 20,32S 6 954 763 37,062 6,420. 761 CHARITABLE ACTIVITIES- ANCILLIARY TRADING INCOME 2023 2022 Trip in¢otne Music inoome Tuition fees Other fee extras 97.874 215.158 164.678 98.268 575,978 47,710 175, 104 151,498 81, 782 456, 094 DONATIONS & GRANTS RECEIVABLE 2023 2022 Donallons 8,358 3,5QO 21
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 51al. EXPENDITURE - Analysis of total expenditure staff Costs other Depreciatlon 2023 2022 Charitable activities Education Housekeeping costs Premisès costs Maikeling and publicity Scholarship5 and discounts from reslricled funds Support costs and governance Total expenditure 4,370,089 34,281 458,965 316,235 529,175 42.834 4,829,054 350.516 1,032.046 42,834 4,561.335 329. 936 1,02Q.496 26,522 502,871 20,325 20,325 37,062 742,785 5,147,155 279,443 1.646,977 1,022,228 7,297,003 931,348 6,906,699 502,871 5{bl. EXPENDITURE- Other disclosures 2023 2022 Governance included In support costs.. Audilor's remuneration for audit Reimbursement of personal expenses lo Governors- travel costs Other governance costs 13.547 1.939 10.313 25,799 fO,764 1,834 12,734 25,332 Travel expenses of £1.939 12022.. £1,834) were reimbursed lor accrued) in relation to three Tiustees (2022. three Trusleesl. 2023 2022 Charitable actlvities gxpenditurg includes: Depreciation of owned assets Lease payment on School playing field Bank Charges Pansion costs 502,871 3,857 3,012 508,978 475, 821 3,546 2,950 478, 086 INFORMATION REGARDING TRUSTEES AND EMPLOYEES Trustees, emoluments and expenses.. No Trustee, or person related as close family or connected by business lo them, h29 iecelved any remuneration or other benefits from Ihe School during the year. 2023 2022 Employee costs durlng the perlod: Wages and salaries Social secuiily costs Pension costs 4,249.110 389.067 508 978 5,147,155 4, 025.435 367.255 478.086 4,870.776 Included within wages and salaries above is £342.699 (2022.. £312,926) relaling lo catering and cleaning wages for staff that are not directly employed by the School, bul by the catering and cleaning suppliers. 22
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 INFORMATION REGARDING TRUSTEES AND EMPLOYEES leontinuedl 2023 No. 84 23 38 16 161 2022 No. 83 23 36 15 157 Average number of persons employed.. Teaching slafl Peripalelic music and activities Support slalf Catering The number of employees whose emoluments exceeded £60,000 were= 2023 2022 No. £60,000- £70,000 £80,000- £90,000 £90,000- £10a,000 £100,000- £110,000 The highesl paid employee was a member of the Schools GTOUP Personal Pension Defined Contributions Scheme. Conliibulions du¥ing the year were £15,811 (2022.. £15,185)- During the year Iheie were no redur¢dancy or lefminalion payments (2022.. £nil). 2023 2022 Aggregate employee benefits of key management personnel 402,753 393.832 This includes gross salary, employers, pension and employers. National Insurance costs. TANGIBLE FIXED ASSETS Freehold Land and BulldSngs Plant and Machlnery Computer Fixture8, Fillings and Equipment Asset5 Under Construction Total Cost Al l Augusl 2022 Additions DS$posals At31 July2023 11,907,882 100,597 289,9Q6 909 468,557 97,859 124,060 442,356 7,038,947 18,399 42.7131 1,014,633 13. 705,292 228,833 166,773 11,069 12,OOB.479 290,815 13 767,352 Depreciation Al l Augiisl 2022 Charge for the year Disposals 4,018.949 220,676 286,432 717.113 5,243, 172 307,433 28.055 76.580 1124,0601 90,803 142,7131 502,871 1166,7731 At 31 July 2023 4.326.382 248,733 238.952 765,203 5.579,270 Net Book Value At 31 July 2023 7.682,097 42,082 203,404 249,430 11.069 8,188,082 Al 3f July 2022 7.888,933 69,228 182,125 321,834 8,462, 120 23
BEAUOESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 DEBTORS 2023 2022 Fee and extras debtors Prepayments and accrued income 324,438 170,653 495,091 316,693 169, 817 486,510 Fee debtors are staled afler impairment provisions lotalling £79,008 (2022.. £51,066). CREDITORS (AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade credilofs Other ciedilors Taxation and social security Pension Deposits (note 101 AccrLJals and deferred income Fees paid in advance Fees in advance scheme Inole 111 Other loan 69,523 7,117 103,338 60,644 41,748 160,810 45,192 358.892 10.645 857,909 102,382 5,969 f 01,215 60,213 46, 750 115,183 76, 730 286,626 10,645 805,713 10. CREDITORS IAP410UNTS FALLING DUE AFTER MORE THAN ONE YEAR} 2023 2022 Fees in advance scheme {nole 111 Deposits OlheT loan 182.913 308.998 21,290 513.201 314,000 10,645 324,645 Deposits Deposits are held lor all pupils 8nd are repayable when they leave the School. 2023 2022 Within one year {nole 9) Within one lo two years Within two lo five years Over 5 years 41,748 37,000 137,000 140 000 355 748 46. 750 43,748 133,500 131, 150 355. 748 24
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 11. FEES IN ADVANCE SCHEME Parents are able to enter into a contract lo pay the School luilion lees in advance. The money may be returned subject lo specific conditions on the receipt of OE)e term's notice. Assuming pupils will remain in the School, advance fees will be applied as follows= 2023 2022 Within 2 5 years Within 1 2 years Inote 10) Within 1 year Inole 91 182,913 182,913 358.892 286.626 358,892 469,539 The balance of £358,892 12022.. £469,539) represents the accrued liability under the conlr2cls. The movemenls during the year were.. 2023 2022 Balance al the start of the year New eonlracls 469,539 291,430 760.969 1402,0771 394, 756 420,028 814,784 (345.245) Amounts ulilised in payment ol fees Balance al the end of the year 358,892 469.539 12. MOVEMENT IN UNRESTRICTED FUNDS Unrestricted funds comprise the following: Year ended 31 July 2023 8alance 1 August 2022 Balance 31 July 2023 Income Expenditure Transfer General fund De5ignaled fund Total unrestricted funds 9,478.265 5T,800 7,709,190 17,276,678} (12,7911 12.791 9,897,986 9,536,065 7,709,190 7.276,678 9,968,577 Year ended 31 July 2022 Balance l August 2021 Balancg 3t July 2022 Income Expenditure Transfer Generel fund Designated fund Tot?1 unrestricted lunds 9.389,903 50.000 6,914,799 (6,869, 637) (7.800) 7,800 g,478,265 57,800 9.430, 903 6,974, 799 6,869, 637 9.536.065 The Designated Fund represents nel income to provide funds lo help fund bursaries until the next specific fundraising appeal. The School considers these funds in combination with the Bursary Fund below lo represent lolal funds available for bursaries. 2S
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 13. MOVEMENT IN RESTRICTED FUNDS Year ended 31 July 2023 Balance 1 August 2022 Balance 31 July 2023 Income Expenditure Restricted funds Bursary Fund 51,940 10,199 41,814 Total 10,199 20,325 41,814 Year ended 31 July 2022 BalanGe l Augiist 2027 Balance 31 July 2022 Income Exp8nditure Restricted funds Bursary Fund 85,502 3.500 37,062 51,940 Total 85,502 3,500 37,062 51,940 Bursary Fund income Is generated as a result of fundraising. The use of the funds so generated is intended lo be to provide Iranslormatior¢al bursaries, or else support a family who's circumslances have changed so drastically they lind il impossible to continue lo afford the lees, lo help ensure that a 8eaudeseTI education is accessible to all children who have the aplilude to contribute to the life of the School and lo benefit from the experience. 14. ANALYSIS OF ASSETS & LIABILITIES BETWEEN FUNDS For the year ended 31 July 2023 Unrestrlcted Funds Designated Funds Restrlcted Funds Total 2023 Fixed assets Cuirenl assets Current and long term liabilities 8,188,082 2,892,458 1,182,554 9.897,986 8,188,082 3,004,863 1.182.554L 10,010,391 70.591 41,814 70,591 41,814 For the y¢ar ended 31 July 2022 Unrestricted Funds Designated Funds Resfrlcted Funds Total 2022 Fftxed assets Currei?t 8ssels Current and long lerm liabilities 8,462, 120 2,335,059 1,318,914 9,478,265 8,462, 12Q 2,444,799 1,318,914 9.588.005 57,800 51,940 57,800 51,940 26
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 15. PENSION COSTS All staff lif eligible) are enrolled into the School's defined contribution scheme, the assets of which are held separately from those of the School. The pension cosl charged represents conliibulions payable by the School lo the scheme and amounted lo £508,978 lor the year ended 31 July 2023 (2022.. £478,086J. At 31 July 2023 contributions of £60.644 were due lo be paid (2022.. £60,213). All penslon charges are charged lo unreslricled funds, in line with the fund out of which wages and salaries are paid. 16. CAPITAL COMMITMENTS £23,536 unaccrued capital expendilure was contracted for as al 31 July 2023 (2022.. £97.476). 17. FINANCIAL COMMITMENTS At 31 July 2023 the School had lulure minimum lease payments L¢nder non-cancellable operating leases as follows.. Plant and equipment 2023 2022 Land and Bulldings 2023 2022 Expiring within 1 year Expiring between 1 and 5 years Expiring aftei 5 years 61,607 87,977 73,944 148,374 1,210 3,488 13,952 3,B51 3,488 13,952 7,339 18. MEMBERS The Charity is incorporated as a Company limited by guarantee having [70 share capital and in accordance with the Memorandum of Association every member of the Company undertakes lo contribute lo ils assets In the evenl of a winding up while slhe is a member, or within one year after slhe ceases lo be a member, up to all amount nol exceeding £1. Al 31 July 2023 there were 17 members (2022.. 14 Ingn7bers). 19. RELATED PARTY TRANSACTIONS One12022.' one) School Trustee, JB Nelllelon, has paid Advance Fees in respect ol luilion costs for his child. Al the year end Ihe balance ol unulilised Advance Fees was £20.325 (2022.. £18.483). The Advanced Fee scheme is available lo all parents of the School. The above transactions have been conducted on terms consislenl with those offered lo other parents, During Ihg year. olher Trustees and Senior Leadership Team members were also parents of pupils al the School. All transactions with these parents were conducted under normal commeicial leims and al arms-lenglh. One School Trustee, JB NeltSelon. is a director of Blake Architects who were awarded the work lo rebuild the swimming pool roof aller winning a competitive, arms-lenglh lender process. 27
BEAUDESERT PARK SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 20. STATEMENT OF FINANCIAL ACTIVITIES- COMPARATIVE FIGURES BY FUND TYPE Unrestricted Funds Restricted Funds 2022 Total Year ended 31 July 2022 Notgs INCOME FROM.. Charitable aclivities School lee5 receivable Ancillary trading income Other income Donations & Grants Receivable Other tradlng activities Hire of school la¢ililies Investment income other income 6,420,761 456,094 12,551 6,420,761 456,094 12,5S1 3.500 3.500 77,582 77.582 7,805 6,978,299 Total income 6 974,799 3,500 EXPENDITURE ON.. Charitable actlvilies.. Education 6,869,637 37,062 6,906,699 Total expenditure 5alb 6,869,637 37,062 6,906,699 Net income I lexpendlturel and net rnovemgnt in funds 105,162 {33,562} 71.600 Funds brought forward 12113 9,430,903 85,502 9 516 405 Funds carrled forward 12113 9.536,065 9,588.OOS 28