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2023-08-31-accounts

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

AMESBURY SCHOOL TRUST LIMITED (UMITED BY GUARANTEE} REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Auditorf5 responsibilities tor the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the finaThcial statements 35 a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that incluijes our opinion. Reasonable assurance is a high level of assurance. but ss not a Éuarantee that an audit conducted in accordance with ISAS IUKI will always deteci a maieiial misstatement when it exists. Misstatements can arise from fraud or errorand are considered material If, individuallyor in the aggregate, theycould 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 audrt of the financial statements is located on the Financial Reporting Council'5 website at.. http5'.l/www.frc.org.uklOur-WorklAudit/Audit-and-a5surancelStandards-ènd- guidance/Standards-and-guidance-for-auditorslAuditors-responsibilities-for-audit/Description-of-auditor5- responsibilities-for-audit.aspx. This description foTms part of our auditorfs report. Extentto which the au(rrt was considered capable of detedir¥ irregularities, indudingfraud The objectives of our 3LEdit. iespett to fraud. are.. to identtfy and assessthe 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 lo fraud, through designin8 and implementing appropriate responses- and to respond appropriately to fraud or suspected fraud identified during ihe audit. However. the primary responsibility for the prevention and detertion of fraud re5t5Wlth both those charged with govemance ofthe entity and its management. Our approach was as follows.. We identified areas of laws and regulations that could rea50nabty be expected to have a material effect on the financial statements from our general commeroal and sector experience. and through discussion with the directors and othei management13s required by auditing 5tandardsl. and di5CU55ed with the directors and other management the policies and procedures regarding compliance with laws and regulations,. We identified the following areas as those most likely to have such an effect.. health and safety: General Data Protection Regulation IGDPRI- Independent Schools Inspectorate IISII,. fraud,. bribery and corruption, school inspections, DBS checks, employment law and Keeping Children Sale in Education under Section 175 of the Education Act 2(K>2.. Auditing standards limit the required audit procedures to identify non- compliance with these law5 and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence. if anv_ We eonsSdered the legal and règulatory framework% dlrectly appllcable to the flnandal statements reporting framework IFRS 102 and the Companies Act 2006 and the Charities Art 20111 and the relevant tax compliance regulations in ihe UK.. We ￿nSIdered the nature of the companvslcharitvs operations. the control environment and bLssiness performance, including the key drivers for managemenvs remureration,. We communicated identified law5 arbd regulation5 throughout our te3m and remained alert to any indications of non-compliance throughout the audit,. We conside￿d the pro￿d￿￿5 and controls that the company/charity has established io address risks identified, or that otherwise prevent, deter and detect fraud- and how senior management monitors those programmes and controls. li

As Restated
Unrestricted Designated Restricted Tota I2023 Total 2022
funds funds funds
INCOME FROM: Notes f
Donations
and legacies		 131 12,000 12,131 2,599
Charitable
activates		 5,375,404 5,375,404 4,580,004
Investment
income		 3,392 3,392 54
Other income 54,437 54,437 85,698
Total income 5,433,364 12,000 5,445,364 4,668,355
EXPENDITURE ON:
Charitable
activities		 5,229,141 5,229,141 4,774,612
Total expenditure 5,229,141 5,229,141 4,774,612
Net
income/(expenditure)		 204,223 12,000 216,223 (106,257)
Transfers between
funds		 23 9,494 (9,494)
Net movement
in
funds		 213,717 (9,494) 12,000 216,223 (106,257)
Fund balances brought
forward		 4,813,837 74,828 352 4,889,017 4,995,274
Fund balances at
carried forward		 5,027,554 65,334 12,352 5,105,240 4,889,017

2023 2022
Notes
FIXEDASSETS
Intangible
assets		 12
Tangible
assets		 13 5,623,833 5,673,606
Investments 14 2 2
5,623,835 5,673,608
CURRENT ASSETS
Stock 15 43,077 13,056
Debtors 16 273,671 217,066
Cash at bank and in hand 517,789 661,828
834,537 891,950
CURRENT LIABILITIES
Creditors
due within one year		 17 (670,608) (1,098,271)
NET CURRENT LIABILITIES 163,929 (206,321)
TOTAL ASSETS LESS CURRENT
LIABILITIES		 5,787,764 5,467,287
LONG TERM LIABILITIES
Creditors due after one year 18 (682,524) (578,270)
NET ASSETS 5,105,240 4,889,017
REPRESENTED BY: 23
RESTRICTED FUNDS 12,352 352
UNRESTRICTED FUNDS
General funds 5,027,554 4,813,837
Designated
funds		 65,334 74,828
5,108,226 4,888,665
5,105,240 4,889,017

2023 2022
Notes
Net cash provided
by/(used
in) operating
activities		 26 221,278 135,546
Cash flows from investing activities:
Interest receivable
and similar income		 5 3,392 54
Purchase oftangible
fixed		 assets 13 (193,158) (133,378)
Net cash used in investing activities (189,766) (133,324)
Cash flows from financing activities:
Repayment
of loans and borrowings		 19 (175,551) (36,806)
Net cash used in financing activities (175,551) (36,806)
Net increase/(decrease)
in
equivalents		 cash and cash (144,039) (34,584)
Cash and cash equivalents at 1September 2022 661,828 696,412
Cash and cash equivalents at 31August 2023 517,789 661,828
Reconciliation
ofnet cash		 flow to movement
in net debt
Increase/(decrease)
in cash and cash
equivalents
in the year		 (144,039) (34,584)
(Increase)/decrease
in debt		 175,551 36,805
Change
in net funds/(debt)
flows		 resulting from cash 31,512 2,221
Net funds at 1September 2022 327,527 325,306
Net funds at 31August 2023 25 359,039 327,527

Unrestricted Restricted Total Total
2023 2022
f f f f
Donations 131 12,000 12,131 2,599
4 INCOME FROM CHARITABLE ACTIVITIES
As Restated
Total Total
2023 2022
f f
Pupil fees 5,748,002 4,833,462
Bursaries, Scholarships and discounts (372,598) (253,458)
5,375,404 4,580,004

Unrestricted Unrestricted Restricted Total Total
2023 2022
f E
interest receivable
deposits		 on bank 3,392 3,392 54
OTHER INCOME
Unrestricted Restricted Total Total
2023 2022
f E
Sundry income 54,437 54,437 85,698
EXPENDITURE ON CHARITABLE ACTIVITIES
As restated
Staff Costs Depreciation Other Total Total
costs
2023 2022
f E f E
Teaching 2,674,449 548,594 3,223,043 2,858,475
Welfare 152,055 283,608 435,663 476,689
Premises 242,931 414,999 657,930 604,900
Support and governance 727,987 184,518 912,505 791,443
Bursaries
designated		 from
funds		 43,105
3,554,491 242,931 1,431,719 5,229,141 4,774,612

Analysis ofsupport
and governance		 Analysis ofsupport
and governance		 Analysis ofsupport
and governance		 costs: costs:
Total Total
2023 2022
f E
Governance
costs:
Auditors'
remuneration		 for audit services 14,700 13,500
Legal and professional fees 16,836 27,605
Total governance
costs		 31,536 41,105
Support costs:
Auditors'
remuneration		 for non audit services 10,245 6,047
Support staff wages, national insurance and pension 727,987 618,175
Advertising
and marketing		 48,207 43,896
ITand computer costs 4,404 2,825
General office expenses 58,853 51,464
Finance costs 23,617 19,946
Other support costs 7,656 7,985
880,969 750,338
Total support
and governance		 costs 912,505 791,443

Net income Net income for the year is after charging: 2023 2022
E E
Operating leases 22,939 22,421
Audit fees 14,700 13,500
Non audit accountancy services 10,245 6,047
Depreciation offixed assets 242,931 257,485

2023 2022
E f
Wages and salaries 2,977,534 2,844,026
Socia I security costs 271,429 263,742
Pension costs 305,528 285,502
Total salaries 3,554,491 3,393,270
2023 2022
Number Number
Education 56 58
Administration and domestic 28 29
84 87
2023 2022
Number Number
E60,001 —E70,000 1
E70,001 —E80,000 1
E90,001 —f100,000 1
f100,000+

As Restated
Unrestricted Designated Restricted Total 2022
funds funds funds
INCOME FROM: E f E
Donations
and legacies		 2,247 352 2,599
Charitable
activates		 4,580,004 4,580,004
Investment
income		 54 54
Other income 85,698 85,698
Tota I income 4,668,003 352 4,668,355
EXPENDITURE ON:
Charitable
activities		 4,731,507 23,609 19,496 4,774,612
Total expenditure 4,731,507 23,609 19,496 4,774,612
Net income/(expenditure) (63,504) (23,609) (19,144) (106,257)
Transfers between funds 133,000 (133,000)
Net movement
in funds		 69,496 (156,609) (19,144) (106,257)
Fund balances brought
forward		 4,744,341 231,437 19,496 4,995,274
Fund balances at carried
forward		 4,813,837 74,828 352 4,889,017
Website Total
E
Cost
At 1September 2022 &31August 2023 31,844 31,844
Amortisation
At 1September 2022 &31August 2023 31,844 31,844
Net book value
At 31August 2023
At 31August 2022
TANGIBLE FIXED ASSETS
Land and Furniture
&		 Motor Total
Buildings Equipment Vehicles
Cost
At 1September 2022 6,732,430 1,362,959 23,373 8,118,762
Additions 89,976 103,182 193,158
Disposals (4,260) (4,260)
At 31August 2023 6,822,406 1,466,141 19,113 8,307,660
Depreciation
At 1September 2022 1,623,992 809,003 12,161 2,445,156
Charge for the year 123,397 116,601 2,933 242,931
Eliminated
on disposa		 I (4,260) (4,260)
At 31August 2023 1,747,389 925,604 10,834 2,683,827
Net book value
At 31August 2023 5,075,017 540,537 8,279 5,623,833
At 31August 2022 5,108,438 553,956 11,212 5,673,606

Undertaking County of Holding Proportion ofvoting Principal
incorporation rights and shares activity
held directly
Amesbury Enterprises England and Ordinary Shares of 100% Dormant
Limited Wales f1each
The Company was dormant throughout 2023 and 2022.

2023 2022
f f
Stocks 43,077 13,056
16 DEBTORS
2023 2022
Trade debtors 84,080 76,088
Prepayments and accrued income 160,470 74,728
Other debtors 29,121 66,250
273,671 217,066

2023 2022
Bank Ioans 19,060 36,370
Trade creditors 116,184 36,995
Other taxation and social security 70,041 68,057
Other creditors 19,565 36,921
Fee deposits 9,200 10,400
Accruals and deferred income 436,558 909,528
670,608 1,098,271
CREDI TORS: amounts falling due after one year
2023 2022
Bank Ioans 139,690 297,931
Fee deposits 123,705 127,705
Deferred income 419,129 152,634
682,524 578,270

2023
Deferred income at 1September 2022 1,012,427
Resources deferred
in the period		 660,039
Amounts released from previous periods (859,793)
Deferred income at 31August 2023 812,673

2023 2022
Bank loans 158,750 334,301
158,750 334,301

2023 2022
Other
Within one year 23,813 6,228
Between one and five years 63,373 16,847
87,186 23,076

Balance at 1 Incoming Resources Transfers Balance at
September resources expended 31August
2022 2023
f f
Unrestricted funds
General
Accumulated fund 4,813,837 5,433,364 (5,229,141) 9,494 5,027,554
Designated
Capital and revaluation reserves 9,494 (9,494)
Amesbury Foundation fund 65,334 65,334
74,828 (9,494) 65,334
Total unrestricted funds 4,888,665 5,433,364 (5,229,141) 5,092,888
Restricted funds
REW Wainwright Library fund 352 352
Playground project 12,000 12,000
Total restricted funds 352 12,000 12,352
Total funds 4,889,017 5,445,364 (5,229,141) 5,105,240

Unrestricted Designated Restricted 2023
funds funds funds Total
f f
Fund balances at 31August 2023 are
represented
by:
Fixed assets 5,623,833 5,623,833
Fixed assets investments 2 2
Current assets 756,851 65,334 12,352 834,537
Current
liabilities		 (670,608) (670,608)
Creditors: due after one year (682,524) (682,524)
5,027,554 65,334 12,352 5,105,240
Unrestricted Designated Restricted 2022
funds funds funds Total
f
Fund balances at 31August 2022 are
represented
by:
Fixed assets 5,673,606 5,673,606
Fixed assets investments 2 2
Current assets 816,770 74,828 352 891,950
Current
liabilities		 (1,098,271) (1,098,271)
Creditors: due after one year (578,270) (578,270)
4,813,837 74,828 352 4,889,017
ANALYSIS OF NET DEBT
At 1 Financing At 31
September cash flows August
2022 2023
f f f
Cash at bank and in hand 661,828 (144,039) 517,789
Debt due within one year (36,370) 17,310 (19,060)
Debt due after more than one year (297,931) 158,241 (139,690)
Net debt 327,527 31,512 359,039
At 1 Financing At 31
September cash flows August
2021 2022
f f f
Cash at bank and in hand 696,412 (34,584) 661,828
Debt due within one year (37,120) 750 (36,370)
Debt due after more than one year (333,986)) 36,055 (297,931)
Net debt 325,306 2,221 327,527

2023 2022
E E
Net income for the year 216,223 (106,257)
Depreciation charges 242,931 257,485
Investment income (3,392) (54)
Increase in stocks (30,021) (4,021)
Increase in debtors (56,605) (1,164)
Decrease in creditors (147,858) (10,443)
221,278 135,546