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|---|---|---|---|
|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|





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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

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





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||||2023||2022||
|---|---|---|---|---|---|---|
|||Notes|||||
|FIXEDASSETS|||||||
|Intangible<br>assets||12|||||
|Tangible<br>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<br>due within one year||17|(670,608)||(1,098,271)||
|NET CURRENT LIABILITIES||||163,929||(206,321)|
|TOTAL ASSETS LESS CURRENT<br>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<br>funds|||65,334||74,828||
|||||5,108,226||4,888,665|
|||||5,105,240||4,889,017|





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|||||2023||2022||
|---|---|---|---|---|---|---|---|
||||Notes|||||
|Net cash provided<br>by/(used<br>in) operating<br>activities|||26||221,278||135,546|
|Cash flows from investing|activities:|||||||
|Interest receivable<br>and similar income|||5|3,392||54||
|Purchase oftangible<br>fixed|assets||13|(193,158)||(133,378)||
|Net cash used in investing|activities||||(189,766)||(133,324)|
|Cash flows from financing|activities:|||||||
|Repayment<br>of loans and borrowings|||19|(175,551)||(36,806)||
|Net cash used in financing|activities||||(175,551)||(36,806)|
|Net increase/(decrease)<br>in <br>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<br>ofnet cash|flow to movement|||||||
|in net debt||||||||
|Increase/(decrease)<br>in cash and cash<br>equivalents<br>in the year|||||(144,039)||(34,584)|
|(Increase)/decrease<br>in debt|||||175,551||36,805|
|Change<br>in net funds/(debt)<br>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|





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||||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|





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||||Unrestricted|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||f|E|
|interest receivable<br>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 <br>designated|from<br>funds||||||43,105|
||||3,554,491|242,931|1,431,719|5,229,141|4,774,612|





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|Analysis ofsupport<br>and governance|Analysis ofsupport<br>and governance|Analysis ofsupport<br>and governance|costs:|costs:|||
|---|---|---|---|---|---|---|
||||||Total|Total|
||||||2023|2022|
||||||f|E|
|Governance<br>costs:|||||||
|Auditors'<br>remuneration|for audit services||||14,700|13,500|
|Legal and professional|fees||||16,836|27,605|
|Total governance<br>costs|||||31,536|41,105|
|Support costs:|||||||
|Auditors'<br>remuneration|for non audit||services||10,245|6,047|
|Support staff wages, national||insurance||and pension|727,987|618,175|
|Advertising<br>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<br>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|



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||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+|||





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||||||As Restated|
|---|---|---|---|---|---|
|||Unrestricted|Designated|Restricted|Total 2022|
|||funds|funds|funds||
|INCOME FROM:||E|f||E|
|Donations<br>and legacies||2,247||352|2,599|
|Charitable<br>activates||4,580,004|||4,580,004|
|Investment<br>income||54|||54|
|Other income||85,698|||85,698|
|Tota I income||4,668,003||352|4,668,355|
|EXPENDITURE ON:||||||
|Charitable<br>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<br>in funds||69,496|(156,609)|(19,144)|(106,257)|
|Fund balances brought<br>forward||4,744,341|231,437|19,496|4,995,274|
|Fund balances at carried<br>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<br>&|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<br>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|





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|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|





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||||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|



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



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



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



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||||||||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|





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## 

||Unrestricted|Designated|Restricted|2023|
|---|---|---|---|---|
||funds|funds|funds|Total|
|||f||f|
|Fund balances at 31August 2023 are|||||
|represented<br>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<br>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<br>by:|||||
|Fixed assets|5,673,606|||5,673,606|
|Fixed assets investments|2|||2|
|Current assets|816,770|74,828|352|891,950|
|Current<br>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|





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## 

||||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|