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2022-08-31-accounts

Registered Company number: 00984771 (England and Wales)

Registered Charity number: 312058

GOVERNORS’ REPORT AND FINANCIAL STATEMENTS FOR

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR END 31 August 2022

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

Governors

Governors
A M Appelboam Meadows (resigned 21/12/2021)
C P Bennie
M R Bryan
L A Buchanan (appointed 10/01/2022)
K L Davies
I D Ferguson (appointed 09/06/2022)
R P Green (resigned 31/03/2022)
T G Henderson (Chairman) (resigned 14/10/2022)
D Kanani-Jones (appointed 26/01/2022)
Dr R S Kirkham (appointed 09/06/2022)
D Livsey
S Miller (resigned 16/11/2021)
M G Milliken-Smith (resigned 31/12/2021)
S M Perrett
H F D Sturges (appointed 21/02/2022)
M F Toms (resigned 31/03/2022)
R Ward
J R Welham (appointed 14/10/2022)
M Whitby
Head J F Whybrow
Bursar and Clerk to the Governors S L Jones
Charity Number 312058
Company Number 00984771
Registered Office & Principal Address Amesbury School
Hazel Grove
Hindhead
Surrey
GU26 6BL
Auditors TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
United Kingdom
Website amesburyschool.co.uk

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

CONTENTS

Page Governors' Report 1 Statement of Governors' Responsibilities 8 Report of the Independent Auditors 9 Statement of Financial Activities 13 Balance Sheet 14 Cash Flow Statement 15 Notes to the Financial Statements 16

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT

The Governors, who are of company law and Trustees for the purposes of charity law, present their Directors for the purposes annual report together with the financial statements of the charitable company for the year ended 31 August 2022.

The School is governed by its Articles of Association last amended on 2 December 2015.

Governing Body

The Governing Body is self-appointing. New Governors serve for an initial term ending at the AGM following the third anniversary of their appointment. They are then eligible for re-election for a maximum of two successive terms of three years. A Governor having served for three successive terms shall not be reappointed as a Governor without a break of at least twelve months unless the other Governors waive this requirement.

Recruitment and training of Governors

Nominations for new Governors are sought through introductions from existing Governors, the Head or the Bursar, based on the candidates’ professional qualities, experience, personal competence and local availability. Particular regard is given to the need to maintain a range of skills within the Governing Body, including finance, education, pastoral, property, marketing, IT and human resources expertise. New Governors are provided with induction support, including a tour of the school, discussions with senior staff and the Chair of the Governing Body. All Governors are encouraged to attend relevant conferences and training seminars organised by AGBIS and other providers. Training is provided online and through workshop sessions at the school.

Governors are particularly conscious of their responsibility to regularly monitor and evaluate the effectiveness of the school's policies and procedures. Arrangements via the committee and meeting structures enable this to happen. They pay particular regard to their responsibilities in relation to safeguarding and child protection and the implications of the law, related procedures and best practice. All Governors have received training in safeguarding, PREVENT and e- safety.

Organisational management

The members of the Governing Body are legally responsible for the overall management and control of the School. They normally meet three times a year. Much of the detailed work of overseeing policies is carried out by Committees of the Governing Body. The day-to-day running of the School is delegated to the Head and Bursar, who attend all meetings of the Governing Body and its committees.

The principal responsibilities of the Governors’ committees are as follows:

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (CONTINUED)

The committees and their membership during the year were:

Trustee 1 2 3 4 5
A Appelboam-
Meadows		 X
C P Bennie X
M R Bryan X X
L A Buchanan X
K L Davies X
I D Ferguson X
R P Green X X
T G Henderson X X X X
D Kanini-Jones
D Livsey X X
S Miller X X
M G Milliken-Smith X
S M Perrett X X
H F D Sturges X
M F Toms X X
R Ward X
J R Welham X
M Whitby X

1. Finance Committee

2. Education Committee

  1. Buildings Committee

  2. Safeguarding Committee

  3. Nominations and Governance Committee

In addition to the committees above, Governors sit in an advisory capacity on the following management committees: Marketing, Health & Safety and Digital Committees.

The Head and Bursar are supported by the Senior Leadership Team, who together constitute the key management personnel.

Remuneration policy is set by the Governing Body, with the objectives of attracting high calibre staff and fairly and responsibly rewarding individual contributions to the School’s success. The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere.

Objectives and activities

Amesbury School's over-arching purpose is the advancement of education through an independent nursery, prepreparatory and preparatory school for boys and girls between the ages of two and 13. This schooling is non-selective at point of entry on grounds of academic standard, race, colour, or religion.

Amesbury encourages participation in the academic, sporting, musical and artistic activities of the School by members of the local community who would not otherwise have Amesbury's quality of teaching and facilities available to them.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (CONTINUED)

To this end, a range of academic, sports and music scholarships are offered. In addition, sports and other facilities are opened up for local community use outside of school hours and during school holidays. The School has strong links with other independent and state sector schools, and actively seeks to develop these links.

The principle behind the School’s aims is that every child should enjoy his or her time at school and feel valued as an individual, in an environment where their talents can prosper to the benefit of the community so that when the time comes to leave Amesbury, each child will do so with confidence high, skills sharpened and personalities rounded. The five key development objectives are:

Each of these objectives has a documented sub-set of more detailed strategies and tactics designed to allow the main objective to be achieved.

They are supported by strategies intended to enable the School to remain focused on delivering each objective. Departmental Development Plans are aligned with each objective and in combination form the basis of the School Development Plan (SDP).

Public Benefit

The Governors are mindful of the long-standing need to provide public benefit and of the requirements of the Charities Act 2011 in setting the School's aims and objectives and planning the School’s activities.

During the year ended 31 August 2022, in accordance with section 4 of the Charities Act 2011, the Governors had due regard to the Charity Commission's public benefit guidance, as published in September 2013 following the 2011 decision of the Upper Tribunal and subsequent revisions.

In addition to the provision of academic, sports and music scholarships, the School has provided means-tested financial assistance during the 2021/22 year amounting to £43,105 (2020/21: £68,178). Furthermore, the Amesbury Foundation fund has been constituted to provide bursaries for parents of children who would benefit from an Amesbury education. When the School has made a surplus a sum is allocated to this fund. This year due to the deficit made no sum has been transferred to the Foundation fund. During 2021/22 means tested bursaries amounting to £43,105 (2020/21 £40,116) were awarded from the Foundation fund which has a remaining balance of £45,838 (2020/21 £88,943).

In addition to bursaries, the school has long engaged in many activities that provide benefit to the public within the School’s objectives, as well as some community benefit activities beyond the scope of those objectives.

The focus of our public benefit activities was the Arts Festival held in May 2022. As well as inviting local state schools to all performances, the general public were also invited to attend two major events.

On the sports field, we were delighted to hold a football tournament for 14 club sides. We continue to offer fixtures to local primary schools.

Amesbury has been used as an ad hoc exam centre for LAMDA, ABRSM and ISTD examinations and local children from state schools have made use of this in the past.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (CONTINUED)

As part of our Amesbury Award and Life Skills programme, our eldest children regularly visit care homes in the local community.

Community Relationships

The School works in association with local clubs, other charities and other schools in its ongoing endeavours to widen public access to its facilities and to awaken in its pupils an awareness of the social context of the education they receive at school. Every evening and at the weekends, local clubs and charities use Amesbury’s facilities for a minimal charge calculated to cover costs.

Risk Management

The Governors have examined the major strategic, business and operational risks to which the School is exposed and confirm that procedures have been established to mitigate or reduce risks wherever possible and to insure against all normal business risks, such as public and employer’s liability and property loss and damage. A register of risks has been developed and categorised and sub-Committees of the Board, individual Governors or executives have been made responsible for identifying, assessing and monitoring the risks in each category. The risks identified are monitored and updated on an annual basis and approved by the Finance Committee and Full Board.

Employment policy

The School is an equal opportunities employer. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employment needs. Consultation with employees, or their representatives, has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests. Employees are made aware of the financial and economic performance of the School.

Communication with employees continues through normal management channels in a variety of forms and includes awareness of the school’s financial performance as well as current educational updates and safeguarding.

REVIEW OF ACHIEVEMENTS AND PERFORMANCE

Educational Events and Achievements

The School ended the year with 297 (2020/2021: 306) full time Prep and Pre-Prep pupils. A further 31 children attended one or more half day Pre-Nursery (age 2+) or Nursery (age 3+) sessions per week.

Amesbury prides itself on the wide range of senior schools, for which it prepares its pupils, so as to best fit the various academic, sporting, artistic and musical abilities and aspirations of the children and their parents. To this end, the Head and senior leadership team maintain close relationships with many senior schools, arrange regular contact (and recently online) sessions between them and Amesbury’s pupils and parents and ensure the pupils are well prepared for not only examinations but also interviews and other selection techniques used by their preferred choices.

There were 43 leavers in July 2022 who went on to 12 different senior schools, including 9 with scholarships.

Senior Schools – (scholarships in bold )

Bohunt Bryanston
Churchers College Cranleigh
Lord Wandsworth College Prior’s Field School
Portsmouth Grammar School Royal Grammar School, Guildford
Seaford College St Catherine’s, Bramley
Tormead Wellington College

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (CONTINUED)

Wellbeing programme

One of the most innovative and effective initiatives with regards to pupil wellbeing has been the introduction of the school pigs program. These therapy animals have proven to be instrumental in helping students who struggle with school refusal, anxiety, and other stress-related issues. The presence of the pigs has created a calm and comforting atmosphere, encouraging students to engage in school life and participate in various activities. The positive impact of the program has been evident in improved attendance and engagement among students who had previously struggled with school refusal.

Recognising the importance of mental health support for our students, a clinical psychologist has been available onsite every Friday throughout the school year. This invaluable resource has provided students with easy access to professional psychological support, allowing them to discuss any concerns and receive guidance on coping strategies and interventions. This has not only helped to address individual needs but has also contributed to a more inclusive and supportive school environment.

The introduction of Pastoral Heads of Section has formalized the pastoral structure within the school, ensuring that each student's wellbeing is closely monitored and appropriately supported. These dedicated staff members have been responsible for maintaining a clear line of communication between students, parents, and school staff, allowing for timely and effective intervention when necessary. This restructuring has led to a more streamlined and efficient pastoral care system that has had a noticeable positive impact on the students' overall wellbeing.

The Wellbeing Hub, which has been open and available to pupils during break and lunchtime, has provided students with a safe and welcoming space to relax, socialise, and access support when needed. This resource has been particularly beneficial for students who may feel overwhelmed or anxious during the busy school day, offering a quiet and calming environment to recharge and seek guidance from staff members.

Internal School Activities

September 2021 marked a return to near normality following the pandemic. Fixtures, performances, vertical mixing, match teas and all of the other plethora of behaviours which characterise an independent preparatory school experience were reintroduced. Probably the highlight was the outdoor Carol Service. It was decided to plan for an outdoor service in order to make it Covid proof. It proved to be a great success thanks to the weather and, of course, the clamour from all for a degree of normality.

Charitable Activities and Donations

The Charities Act 2011, section 3, specifically recognises Amesbury's overarching objective - the advancement of education - as a charitable purpose. The School's day to day teaching activities also involve several other charitable purposes recognised by the Act relating to sport, arts, culture, heritage, science, citizenship and community. Within that wider definition of education, Amesbury encourages active involvement of staff, pupils, and parents in a school charities programme each year. The specific aims set for the programme in 2021/22 were:

In 2021 the School Council reviewed the school charities, as many of the charities the school had previously support had come to an end during the Covid-19 pandemic. The school council organised for four charities to present to the

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (CONTINUED)

school in February 2022. These charities were: The Bangladesh Orphanage, Brighter Start, Osiligi and WasteAid. The school council voted for the Bangladesh Orphanage to become the school's main international charity. It was also decided to continue to support the following local charities: Haslemere Foodbank, Liphook Foodbank, Pilgrim Retirement Home and Donec Mews, Grayshott. The school Eco club has also voted to raise funds for WasteAid.

The major charity event of the year is Charity day hosted by the children in the Trinity term. This year we held the first full event since pre-covid times. This included stalls run by the children, a fun run and a charity concert, as well as a family BBQ and drinks.

FINANCIAL REVIEW

Result for the year

Unrestricted income for the year increased by 3.7% from £4,423,572 in 2021 to £4,588,982 in 2022. This was due to a marked increase in sundry income as well as income from charitable activities. Resources expended increased by 5.9% from £4,416,325 to £4,678,342, due mainly to increased staff costs. The overall result is a reduction in net income from £7,247 in 2021 to (£89,360) in 2022.

Capital Expenditure and Balance Sheet

The balance sheet as at 31 August 2022 shows a reduction in total funds of £106,257 to £4,889,017. The school has continued to remain cash positive with no requirement to draw on its overdraft facility for day-to-day operations. However this year a net cash deficit was generated of £34,584 (2020/21 deficit £143,957).

Capital expenditure of £133,378 was spent in the year, the main projects being the renovation of the boarding facilities ready to welcome flexi-boarding in September 2022, including bathrooms, the upgrade of catering equipment and investment in new curriculum IT.

Assets Value

The Governors have considered the carrying values of the freehold properties and in their opinion there has been no impairment to the values shown in the accounts.

Outlook for 2022/23

The key educational objectives for the future remain as set out above. The Governors are keen to ensure that the estate is completed to allow a full and inspiring learning environment for the pupils and that teaching facilities remain leading-edge. Planned capital projects include the continued improvement of IT facilities alongside the introduction of a dedicated forest schools area, a daycare nursery and improved parking facilities.

The School's budget for 2022/23 reflects the continuation of strong pupil numbers with a desire to continue improving and updating learning and IT resources and education spaces. The challenges faced the possible abolition of business rates relief and introduction of VAT on school fees are ongoing. These factors could have a material effect on surpluses going forward. The School withdrew from the Teachers’ Pension Scheme in May 2021 and enrolled teachers into a defined contribution scheme.

RESERVES POLICY

Education is a highly capital-intensive activity, especially in relation to the land, buildings, fixtures and equipment needed in the operation of a school. Since its foundation, the School has owned the freehold site, centred around its grade 2 listed main school building, which is the only purpose-designed school by Sir Edwin Lutyens in the UK. Over the years, substantial investment has been made in the original Lutyens building and new buildings and facilities have been added within the site to ensure that the School can continue to provide a top-quality education that matches pupil needs and parental expectations.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (CONTINUED)

In an ideal world, the Governors would like to have unrestricted reserves sufficient to match the aggregate investment in the core fixed assets essential for the purposes of running the School and nursery (currently £5.7m excluding the core assets paid for out of restricted reserves), plus "free reserves" equal to one term's outgoings as a contingency against unforeseen financial shocks (approximately £1.5m).

In practice, however, the School’s only material source of reserves growth is any annual surplus generated by the operations of the School. In line with previous years, the Governors have therefore accepted the need to manage the risk of unforeseen financial shocks through tight budgeting and financial controls. Each year, as part of the budgeting process and especially in advance of any major investment project, the Governors ensure that expected cash flows are sufficient to meet both planned capital investment and scheduled repayments of the non-core funding sources set out above and that any reliance on short term bank borrowings can be repaid from projected cash flow surpluses over no more than 5 years. In this regard, at the end of 2021/22 and taking into account the budgeted income and expenditures for 2022/23, the Governors are satisfied that the Trust's reserves are adequate to sustain Amesbury's educational operations for the foreseeable future.

Financial instruments

The School’s activities expose it to a number of financial risks including, cash flow risk, interest rate risk, credit risk and liquidity risk.

Cash flow risk

The School monitors its cashflow risk through careful monitoring of expected future cashflows, ensuring that there is always prudent cushion headroom within agreed borrowing limits.

Interest rate risk

The School’s activities expose it primarily to interest rates. Interest bearing assets and liabilities are held at fixed and variable rates.

Credit risk

The School’s principal financial assets are bank balances and cash, trade and other receivables. Credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the School uses a mixture of long-term and short-term debt finance.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

GOVERNORS’ REPORT (CONTINUED)

Disclosure of information to auditor

Each Governor has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The Governors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the Governors of the charity on .................... and signed on its behalf by:

......................................... S L Jones Company Secretary

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors, who are also the directors of Amesbury School Trust Limited for the purpose of company law, are responsible for preparing the Governors' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard FRS102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

Company law requires the Governors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Governors are required to:

The Governors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

We have audited the financial statements of Amesbury School Trust Limited (‘the charitable company’) for the year ended 31 August 2022 which comprise the Statement of Financial Activities, Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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

Responsibilities of trustees

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

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Auditor’s responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Mark Cummins FCCA (Senior Statutory Auditor)

for and on behalf of TC Group Statutory Auditors Office: Sussex

Dated: ………………………

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2022

INCOME FROM:
Notes
Donations and legacies
3
Charitable activates
4
Investment income
5
Other income
6
Total income
EXPENDITURE ON:
Charitable activities
7
Total expenditure
Net
income/(expenditure)
Transfers between
funds
23
Net movement in
funds
Fund balances brought
forward
Fund balances at
carried forward
23		 Unrestricted
funds
£
2,247
4,503,230
54
85,698
4,591,229
4,654,733
4,654,733
(63,504)
133,000
69,496
4,744,341
4,813,837		 Designated
funds
£
-
-
-
-
-
23,609
23,609
(23,609)
(133,000)
(156,609)
231,437
74,828		 Restricted
funds
£
352
-
-
-
352
19,496
19,496
(19,144)
-
(19,144)
19,496
352		 Total 2022
£
2,599
4,503,230
54
85,698
4,591,581
4,697,838
4,697,838
(106,257)
-
(106,257)
4,995,274
4,889,017		 Total 2021
£
715
4,397,362
62
26,148
4,424,287
4,420,536
4,420,536
3,751
-
3,751
4,991,523
4,995,274

All the charity’s activities derive from continuing operations during the above two periods.

The funds breakdown is shown in note 23.

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AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

BALANCE SHEET

FOR THE YEAR ENDED 31 AUGUST 2022

Notes
FIXED ASSETS
Intangible assets
12
Tangible assets
13
Investments
14
CURRENT ASSETS
Stock
15
Debtors
16
Cash at bank and in hand
CURRENT LIABILITIES
Creditors due within one year
17
NET CURRENT LIABILITIES
TOTAL ASSETS LESS CURRENT
LIABILITIES
LONG TERM LIABILITIES
Creditors due after one year
18
NET ASSETS
REPRESENTED BY:
23
RESTRICTED FUNDS
UNRESTRICTED FUNDS
General funds
Designated funds		 2022
£
£
-
5,673,606
2
5,673,608
13,056
217,066
661,828
891,950
(1,098,271)
(206,321)
5,467,287
(578,270)
4,889,017
352
4,813,837
74,828
4,888,665
4,889,017		 2021
£
£
-
5,797,712
2
5,797,714
9,035
215,902
696,412
921,349
(1,142,563)
(221,214)
5,576,500
(581,226)
4,995,274
19,496
4,744,341
231,437
4,975,778
4,995,274		 2021
£
£
-
5,797,712
2
5,797,714
9,035
215,902
696,412
921,349
(1,142,563)
(221,214)
5,576,500
(581,226)
4,995,274
19,496
4,744,341
231,437
4,975,778
4,995,274
13,056
217,066
661,828		 9,035
215,902
696,412
891,950
(1,098,271)		 921,349
(1,142,563)
4,813,837
74,828		 4,744,341
231,437
5,576,500
(581,226)
4,995,274
19,496
4,975,778
4,995,274

The financial statements on pages 16 to 28 were approved by the governors, and authorised for issue on ………………. And signed on their behalf by:

…………………………………………………… T G Henderson Trustee

Date: …………………………………….. Company Number – 009847

14

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Net cash provided by/(used in) operating
activities
26
Cash flows from investing activities:
Interest receivable and similar income
5
Purchase of tangible fixed assets
13
Sale of tangible fixed assets
13
Net cash used in investing activities
Cash flows from financing activities:
Repayment of loans and borrowings
19
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at 1 September 2021
Cash and cash equivalents at 31 August 2022
Reconciliation of net cash flow to movement
in net debt
Increase/(decrease) in cash and cash
equivalents in the year
(Increase)/decrease in debt
Change in net funds/(debt) resulting from cash
flows
Net funds at 1 September 2021
Net funds at 31 August 2022
25		 2022
£
£
135,546
54
(133,378)
-
(133,324)
(36,806)
(36,806)
(34,584)
696,412
661,828
(34,584)
36,805
2,221
325,306
327,527		 2021
£
£
49,616
62
(166,670)
3,500
(163,108)
(30,465)
(30,465)
(143,957)
840,369
696,412
(143,957)
30,465
(113,492)
438,798
325,306		 2021
£
£
49,616
62
(166,670)
3,500
(163,108)
(30,465)
(30,465)
(143,957)
840,369
696,412
(143,957)
30,465
(113,492)
438,798
325,306
(163,108)
(36,806) (30,465)
(30,465)
(143,957)
840,369
696,412
(143,957)
30,465
(113,492)
438,798
325,306

All of the cash flows are derived from continuing operations during the above two periods.

15

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1 STATUTORY INFORMATION

Amesbury School Trust Limited is a charitable company, limited by guarantee, and incorporated in England and Wales. The principal place of business and principal activity of the company are outlines in the Reference and Administrative Details and Report of the Governors sections of these financial statements respectively.

2 ACCOUNTING POLICIES

2.1 Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented unless otherwise stated.

2.2 Basis of preparation

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statement have been prepared under the historical cost convention.

Consolidated financial statements have not been prepared on the basis that the inclusion of the dormant subsidiary would not make a material difference.

2.3 Going concern

The financial statements have been prepared on a going concern basis, on the basis that no material uncertainties exist that cast significant doubt upon the charity’s ability to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

2.4 Income and endowments

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

2.5 Deferred income

Deferred income relates to monies received in advance of the school term they relate to. The income is recognised at the start of the term.

2.6 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

16

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

2 ACCOUNTING POLICIES (Continued)

2.7 Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

2.8 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2021 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, as such income or gains are applied exclusively to charitable purposes.

2.9 Intangible assets

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Assets Class Amortisation method and rate Website development costs 25% on cost

2.10 Depreciation

Depreciation is provide on all tangible fixed assets other than freehold land once the asset has been fully brought in working order. The following annual rates are used in order to write off each asset over its estimated useful life:

Assets Class Depreciation method and rate Fixtures and equipment Between 5 – 25% on cost (motor vehicles: 25% reducing balance) Freehold properties 2% on valuation or cost

2.11 Stock

Stock is valued at the lower of cost and estimated selling price, after due regard for obsolete and slow moving stocks.

2.12 Debtors

Short term debtors are measured at transaction value less any impairment. At each balance sheet date, debtors are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is measured as the difference between the carrying amount and the amount expected to be received.

2.13 Creditors

Short term creditors are measured at transaction value.

2.14 Bank loans

Bank loans are recorded at amortised cost.

2.15 Fund structure

Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.

17

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

2 ACCOUNTING POLICIES (continued)

The designated Unrestricted fund is made up of the Capital and Revaluation Reserves which are retained for the funding of future general capital expenditure and the Amesbury Foundation reserve which is set aside for the provision of means tested bursaries.

Restricted funds can only be used for particular restricted purposes within the objectives of the Trust. Further explanation of the nature and purpose of each restricted fund is included in the notes to the accounts.

2.16 Pensions and other post retirement obligations

The school withdrew from the Teachers’ Pension Scheme as at 1 May 2021, and replaced It with AVIVA Pension Trust for Independent Schools (APTIS). This is a defined contribution scheme.

The School also operates a defined contribution pension scheme for its non-teaching staff. Contributions payable for the year are charged to the Statement of Financial Activities as incurred.

Costs of redundancy and termination payments are accrued within the period in which the notice was given.

3 INCOME FROM DONTATIONS AND LEGACIES

Unrestricted
£
Donations
2,247
INCOME FROM CHARITABLE ACTIVITIES
Pupil fees
Bursaries, Scholarships and discounts (2021 includes covid
reductions)
INCOME FROM INVESTMENTS
Unrestricted
£
Interest receivable on bank
deposits
54		 Restricted
£
352
Restricted
£
-		 Total
2022
£
2,599
Total
2022
£
4,756,688
(253,458)
4,503,230
Total
2022
£
54		 Total
2021
£
715
Restricted
£
-		 Total
2021
£
4,879,398
(482,036)
4,397,362
Total
2021
£
62

4 INCOME FROM CHARITABLE ACTIVITIES

5 INCOME FROM INVESTMENTS

18

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

6
OTHER INCOME
Unrestricted
Restricted
£
£
Sundry income
85,698
-
7
EXPENDITURE ON CHARITABLE ACTIVITIES
Staff Costs
Depreciation
Other
costs
£
£
£
Teaching
2,477,213
-
301,711
Welfare
297,882
-
178,807
Premises
-
257,485
350,192
Support and governance
618,175
-
173,268
Bursaries from
designated funds
-
-
43,105
3,393,270
257,485
1,047,083		 Total
2022
£
85,698
Total
2022
£
2,778,924
476,689
607,677
791,443
43,105
4,697,838		 Total
2021
£
26,148
Total
2021
£
2,624,783
432,959
570,238
752,440
40,116
4,420,536

£4,654,733 (2021: £4,376,209) of the above expenditure was attributable to unrestricted funds, £19,848 (2021: £4,211) to restricted funds and £23,257 (2021: £40,116) to designated funds.

Analysis of support and governance costs:

Governance costs:
Auditors’ remuneration for audit services
Legal and professional fees
Total governance costs
Support costs:
Auditors’ remuneration for non audit services
Support staff wages, national insurance and pension
Advertising and marketing
IT and computer costs
General office expenses
Finance costs
Other support costs
Total support and governance costs		 Total
2022
£
13,500
27,605
41,105
6,047
618,175
43,896
2,825
51,464
19,946
7,985
750,338
791,443		 Total
2021
£
10,250
28,942
39,192
11,278
584,647
30,289
4,428
56,962
23,586
2,059
713,248
752,440

19

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

8 NET INCOME/OUTGOING RESOURCES

Net income for the year is after charging: 2022 2021
£ £
Operating leases 22,421 18,453
Audit fees 13,500 10,250
Non audit accountancy services 6,047 11,278
Depreciation/amortisation of fixed fees 257,485 256,200

9 TRUSTEES REMUNERATION AND EXPENSES

No trustees, not any persons connected with them, have received any remuneration from the charity during the year.

10 STAFF COSTS

The aggregate payroll costs were as follows:

Wages and salaries
Social security costs
Pension costs
Total salaries		 2022
Number
2,844,026
263,742
285,502
3,393,270		 2021
Number
2,715,251
228,237
322,294
3,265,782

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

Education
Administration and domestic		 2022
58
29
87		 2021
No
58
31
89

The number of employees whose emoluments fell within the following bands was:

2022 2021
Number Number
£70,001 - £80,000 1 1
£90,001 - £100,000 - 1
£100,000 + 1 -

20

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

10 STAFF COSTS (continued)

The total employee benefits of the key management personnel of the school were £213,106 (2021: £205,181).

For employees with emoluments over £60,000, the total pension costs during the year were £10,442 (2021: £10,308)

During the year payments of £4,816 (2021: £1,826) were made in regards to the termination of employment.

11 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES – 31 AUGUST 2021

INCOME FROM:
Notes
Donations and legacies
3
Charitable activates
4
Investment income
5
Other income
6
Total income
EXPENDITURE ON:
Charitable activities
7
Total expenditure
Net income/(expenditure)
Transfers between funds
23
Net movement in funds
23
Fund balances brought
forward
23
Fund balances at carried
forward
23		 Unrestricted
funds
£
-
4,397,362
62
26,148
4,423,572
4,376,209
4,376,209
47,363
305,753
353,116
4,391,225
4,744,341		 Designated
funds
£
-
-
-
-
40,116
40,116
(40,116)
(166,670)
(206,786)
438,223
231,437		 Restricted
funds
£
715
-
-
-
715
4,211
4,211
(3,496)
(139,083)
(142,579)
162,075
19,496		 Total 2021
£
715
4,397,362
62
26,148
4,424,287
4,420,536
4,420,536
3,751
-
3.751
4,991,523
4,995,274

21

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

12
INTANGIBLE FIXED ASSETS
Cost
At 1 September 2021 & 31 August 2022
Amortisation
At 1 September 2021 & 31 August 2022
Net book value
At 31 August 2022
At 31 August 2021
13
TANGIBLE FIXED ASSETS
Land and
Buildings
£
Cost
At 1 September 2021
6,732,430
Additions
-
At 31 August 2022
6,732,430
Depreciation
At 1 September 2021
1,500,645
Charge for the year
123,347
At 31 August 2022
1,623,992
Net book value
At 31 August 2022
5,108,438
At 31 August 2021
5,231,785		 Furniture &
Equipment
£
1,229,581
133,378
1,362,959
678,603
130,400
809,003
553,956
550,978		 Website
£		 Total
£
31,844 31,844
31.844 31,844
- -
- -
Motor
Vehicles
£
23,373
-
23,373
8,424
3,737
12,161
11,212
14,949		 Total
£
7,985,384
133,378
8,118,762
2,187,672
257,484
2,445,156
5,673,606
5,797,712

The carrying value of freehold property reflects a revaluation made in the year to 31 August 1993 of £139,874. No subsequent revaluations have been made.

Included within freehold properties is land valued at £562,953, which is not depreciated.

22

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

14 FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Subsidiary
undertakings		 Total
£ £
Cost
At 1 September 2021 2 2
At 31 August 2022 2 2
Net book value
At 31 August 2022 2 2
At 31 August 2021 2 2

Details of undertakings

Details of the investments in which the charity holds 25% or more of the nominal value of class of share capital are as follows:

Undertaking County of Holding Proportion of voting Principal
incorporation rights and shares activity
held
2022 2021
Amesbury Enterprises England and Ordinary Shares of 100% 100%
Limited Wales £1 each

The Company was dormant throughout 2022 and 2021.

15 STOCK

Stocks
DEBTORS
Trade debtors
Prepayments
Other debtors		 2022
£
13,056
2022
£
76,088
74,728
66,250
217,066		 2021
£
9,035
2021
£
78,485
80,543
56,874
215,902

16 DEBTORS

23

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

17 CREDITORS: amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Fee deposits
Accruals and deferred income		 2022
£
36,370
36,995
68,057
36,921
10,400
909,528
1,098,271		 2021
£
37,120
42,379
61,758
40,604
30,900
929,802
1,142,563

18 CREDITORS: amounts falling due after one year

Bank loans
Fee deposits
Deferred income		 2022
£
297,931
127,705
152,634
578,270		 2021
£
333,986
128,605
118,635
581,226

Included within bank loans due after one year, is £157,904 (2021: £195,791) due by instalments after more than five years.

Deferred income

Deferred income at 1 September 2021
Resources deferred in the period
Amounts released from previous periods
Deferred income at 31 August 2022		 2022
£
988,238
886,720
(862,531)
1,012,427

Deferred income includes £328,151 (2021: £244,343) held under the schools advanced payment scheme, of which £152,634 (2021: £118,635) is shown in note 18 as being due after more than one year.

Bank borrowing

The variable rate loan has a nominal interest rate of the base rate plus 2%. The carrying amount at that year end is £157,133 (2021: £176,157). The fixed rate loan has an interest rate of 3.65%. The carrying amount at the yearend is £177,168 (2021: £194,950).

24

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

19 SECURED CREDITORS

The following creditors have been secured by way of a floating and fixed charge over the assets of the charity.

Bank loans 2022
£
334,301
334,301		 2021
£
371,106
371,106

20 OBLIGATIONS UNDER LEASES AND HIRE PURCHASE CONTRACTS

Total future minimum lease payments under non-cancellable operating leases are as follows:

Other
Within one year
Between one and five years		 2022
£
6,228
16,847
23,076		 2021
£
6,336
22,725
29,061

21 PENSION SCHEMES

The pension cost charge for the year represents contributions payable by the School to differing schemes and amounted to £285,502 (2021: £322,294)

22 CHARITY STATUS

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Amesbury School Hazel Grove Hindhead Surrey GU26 6BL

25

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

23
FUNDS
Unrestricted funds
General
Accumulated fund
Designated
Capital and revaluation reserves
Amesbury Foundation fund
Total unrestricted funds
Restricted funds
Amesbury Trust fund
REW Wainwright Library fund
Total restricted funds
Total funds		 Balance at 1
September
2021
Incoming
resources
Resources
expended
Transfers
Balance at
31 August
2022
£
£
£
£
4,744,341
4,591,229
(4,654,733)
133,000
4,813,837
142,494
-
-
(133,000)
9,494
88,943
-
(23,609)
-
65,334
231,437
-
(43,105)
-
74,828
4,975,778
4,591,229
(4,697,838)
-
4,888,665
19,496
-
(19,496)
-
-
-
352
-
-
352
19,496
352
(19,496)
-
352
4,995,274
4,591,581
(4,697,838)
-
4,889,017

The specific purposes for which the funds are to be applied are as follows:

The Amesbury Trust Fund is funds donated through retained deposits used for means tested bursaries.

The REW Wainwright Library fund is a donation received towards library books for the school.

The Accumulated fund represents the free funds of the charity which are not designated for particular purposes.

There are two designated funds. Firstly the Revaluation and Capital reserves for the funding of future general capital expenditure. Capital expenditure for the year has been allocated against this. Secondly, the Amesbury Foundation funds which is set aside for the provision of means tested bursaries. £23,609 was expended in the year.

26

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

24 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 August 2022 are
represented by:
Fixed assets
Fixed assets investments
Current assets
Current liabilities
Creditors: due after one year
Fund balances at 31 August 2021 are
represented by:
Fixed assets
Fixed assets investments
Current assets
Current liabilities
Creditors: due after one year
25
ANALYSIS OF NET DEBT
Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net debt
Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net debt		 Unrestricted
funds
£
5,673,606
2
816,770
(1,098,271)
(578,270)
4,813,837
Unrestricted
funds
£
5,655,218
2
812,910
(1,142,562)
(581,227)
4,744,341		 Designated
funds
£
-
-
74,828
-
-
74,828
Designated
funds
£
142,494
-
88,943
-
-
231,437
At 1
September
2021
£
696,412
(37,120)
(333,986)
325,306
At 1
September
2020
£
840,369
(38,600)
(362,971)
438,798		 Restricted
funds
£
-
-
352
-
-
352
Restricted
funds
£
-
-
19,496
-
-
19,496
Financing
cash flows
£
(34,584)
750
36,055
2,221
Financing
cash flows
£
(143,957)
1,480
28,985
(113,492)		 2022
Total
£
5,673,606
2
891,950
(1,098,271)
(578,270)
4,889,017
2021
Total
£
5,797,712
2
921,349
(1,142,562)
(581,227)
4,995,274
At 31
August
2022
£
661,828
(36,370)
(297,931)
327,527
At 31
August
2021
£
696,412
(37,120)
(333,986)
325,306

27

AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

26 NET CASH INFLOW FROM OPERATING ACTIVITIES

Net income for the year
Depreciation charges
Amortisation
Investment income
Profit on disposal of fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Decrease in creditors		 2022
£
(106,257)
257,485
-
(54)
-
(4,021)
(1,164)
(10,443)
135,546		 2021
£
3,751
250,893
5,307
(62)
(869)
820
(91,088)
(119,136)
49,616

28