COMPANY NUMBER: (KJ911933 CHARITY NUMBER: 312070 GOVERNORS. REPORT, sfRATEGIC REPORT AND FINANCIAL STATEMENTS FOR FELTONFLEEf SCHOOL TRUST LIMITED (LIMITED BY GUARANfEE} FOR THE YEAR ENDED 31 AUGUST 2024 oup BUSINESS ADVISORS &AlITAInS
FELTONFLEEfscHOOL TRusf LIMrrED (LIMITED BY GUARANfEE} CONTENTS TABLE OF CONTENTS LEGAL AND ADMINISTRATIVE INFORMATION ............................................................................................ GOVERNORS REPORT (INCORPORATING THE STRATEGIC REPORTI..........................................,................ STATEMENT OF GOVERNORS RESPONSIBILITIES........................................................................................ REPORT OF THE INDEPENDENT AUDITORS............................................................................................... 10 STATEMENT OF FINANCIAL AcfiviTIES..................................................................................................... 13 BALANCE SHEET.......................................................... .............................................................................. 14 CASHFLOW STATEMENT ............................................. ............................................................................. 15 NOTE TO THE FINANCIAL STATEMENTS.................................................................................................... 16
FELTONFLEEf SCHOOL TRUST UMITED (LIMITED BY GUARAKfEE) LEGAL AND ADMINISTRATIVE INFORMATION Governors Mr G D Ashbee Chairman Mr5 P Barai BN PGCE Mr D Clarke Mr K Harrington Mr P A Howard BSC. ACA Mr5 S Humphrey BA IHonsl, PGCE Mrs M Jenner MBE.JP Mr5 H D QuinceyCIPD Mr M G Sadler MA. LLB. FCCA Mrs S St Gallay 6A (Hons). PG. JP Mr5 M White LLB IHon51 Senlor Leadership Team Head Secretary and Bursar Senlor Deputy Head Deputy Head IPastoral} Deputy Head IAcademicl Deputy Head Ipre-prepl Assistant Head Icg-curiicular. Operations & Communlty) Assistant Head (Dlgital Communicatlonl Assistant Hèad (Director of Studiesl Head of Pre-Pp tead of Boarding Head of Upper School Head of Middle School Head of Lower School Mrsm L Lance BD PGCE Mr N Binnlngton MBE, MBA Mrs E Sleczko BA (Honsl, PGCE Miss H Marland BA (Honsl. PGCE. wfEC Mr SJ Pomeroy MA (Edl BSC (Honsl PGCE Ms L Doherty BA (Honsl. PGCE, QTS Mr M J Rochford Bsc (Honsl PGCE IRe5igned 31 AuEUSt 20241 Mr G J Starkey BA (Hon5) PGCE Mrs C Carradlne Mmansci (Honsl, OEUF, PGC Mrs A Burton Smtth MA, QTS (Resigned 31 August 2024) Mrj Thompson BA (Honsl, QT5 Mr B Baldwin BSC (Honsl. QTS Miss A Wright BSC (Honsl. PGCE Mrs J Stewart LLB (Hon51. PGCE. QTS Charity number 312070 Company number )911933 Reglstered office and principal address Feltonfleet School leet Road Cobham Surrey Krii IDR Avdltors TC Group Thecourtyard Shorèham Road Upper Beedin8 Steynin8 West Sussex BN44 3TN Bankers Lloyds Bank plc Commercial Office Brambletye House 29 Brighton Road Crawley RHIO 6AE Sollcltors MO0 Barlow LLP Theoriel Sydenham Road Guildford 5urrey GU13SR Page I
FELTONFLEET SCHOOL TRUST LIMrrED (LIMITED BY GuARA1EEl GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGusf2024 The Govemors present thelr report and flnanclal statements for the year ended 31 August 2023. whlch also comply with the Companie5 Act 2006 requirement for a Directors Report and Strateglc ReporL The financial staternents have been prepared in accordance with the Companies Art 2006, Charities Att 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial ststements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. STRucfuRE. GOVERNANCE AND MANAGEMEKr The school is a company limited by guarantee (company number 00911933) and is governed by its Memorandum and Articles of A550ciation. The School is a registered charity (charity number 312070) and operates as Feltonfleet School. The Direttors of the Company are also Trustees of the Charity and are referred to as Governors throu8hout this Report. During the year there was a board of tr4elve Govemors. with one resignation in the year and one appointment post year end. these are detailed on the legal and administration page. None of the Governor5 has any beneficial interest in the Company. All the Governors are members of the Company and their individual liability is limrced to £1 by the Memorandum and Articles of Assoaation. Re¢ruitmenL Indurtion and Trainin8 Governor5 are recruited from amongst the laTge number of friends of the School who have an interest in Its contlnued wellbeing and excellence. Also, they have a particular interest in one or more aspects of the School's activities where they are able to share their expertise and experience. Prospettive new Govemors are interviewed by both the Chairman of the Board and the Chairman of the Nomination5 and Governance Committee and then subsequently dected by the Board of Govwnors. A suitable induction pro8ramme 15 arranged for each nÉw Governor and ongoing training for Governors is carried out with attendance at external training programmes 35 appropriate. Organisational 5trurture The overall direttion of the School is determined by the Governors who review the longer term plans for the School, agree the annual budget and receive termly monitorin8 information against budget and perfomiance measures. The Governors meet a5 a Board three times o year and more frequently if there 15 a need. To assist the School there are Committees of the Board covering: Education Finance & General Purpose Safeguarding and Risk. Health & Safety Salaries Nominations and Govemance {currently being Cover within the Full Board and by the Chairman) Strategy lad-hoc meetings vthen required) Each of these Is chaired by a Governor and comprises a minimum of three Governors. the Headmistress. the Bursar plus other School staff. The day-to4ay management of the khool is delegated to the Headmistress and the Bursar. Pa8e 2
FELTONFLEET SCHOOL TRusf LIMrrED {LIMITED BY GuARA[EE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGusf2024 Rlsk Management The Govemor5 have further developed their Risk Management Policy during the year following a thorough review of the major risks to which the School 15 exposed. The Governors are satisfied that Systems and procedures are established to manage these risks. A quantified assessment of risk was updated and considered by the Safeguarding and Risk. Health & Safety Committee and endorsed by the Board ofGovernors. In the current economic climate, the Govemor5 have identlfied the principal rlsks and uncertainties for the School a5 the maintenance of pupil numbers and resulting income. All staff and most Governors have received Safeguarding and Child Protection tralning during the course of the year. Remuneration of Key Management Personnel The remuneration of staff is set by the Board with the policy objertive of providing appropriate incentives to encoura8e enhanced performance and of rewarding members of staff fairly and responsibly for their individual contributions to the success of the School. The appropriateness and relevance of the remuneration policy is reviewed annualty, including reference to comparisons with other independent schools to ensure the School remains sensttive to the broader issues of pay and employment conditions elsewhere. The School aims to recruit the strongest Staff possible and all are placed on a seven poi nt scale. in recognition of their experience. Delivery of the School's charitable vision and purpose 15 primarily dependent on our key management personnel and staff costs are the largest single element of the School's charitable expendtture. Value Added Taxatlon (WAr) Following Labour's election in July 2024. the expectation was that VAT would be applied to fees sometime during the 2024/25 Academic Year. Governors decided that, where possible, the School would protect parents from the full impact of VAT and so commttted to raising 2024125 fees by 7% and then not raising them again until September 2025. even if VAT was Introduced sooner. Governors anticipate raising 2025126 and 2026127 fees by a similar amount and will communicate these fee levels to parents as soon as practically possible. ort on Academlc Year 2023-2024 Introductlon: The academic year 2023-2024 at Feltonfleet has been marked by Significant 3dvancement5 in variou5 areas, including safeguarding, pastoral care, curriculum quality, diversity. staff development, and environmental improvements. These achievement5 reflect the school's unwavering commÈtment to creating a safe, inclusive, and vibrant learning atmosphere. The hard work and dedication of the staff. combined with the artNe involvement of parents and pupils, has played a crucial role in reaching these goals. further solidifying Feltonfieet's reputation as a hub of acadernic excellence and holistic growth and development. In this report, we will highlight the key developments and achievements across these areas. Safe uardln & Pastoral Care Throughout the academic year there was a focus on clear mesSa'n8 to pupils, staff and parents in relation to safeguardin8, behaviour and our school core value5. The four core values were consistently reinforced through various channels, including assemblies, form periods and PSHE lessons. There was a review, and 5ub5equent updates. of the school's EDI Policy (Sept 20231 and Behaviour Policy ljune 2024). These were meticulously embedded, monitored, and evaluated by the Senior Leadership Team ISLTI. There was a further focus on understanding individual pupil needs using AS tracking {5TEERI and attendance data to form a greater awareness of the emotional wellbeing of our pupils. Page 3
FELTONFLEEf SCHOOL TRU5f UMtrED (LIMrrED BY GUARANfEE) GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST2024 Curri lurn ual and Teachln and Learnin Throughout the 2023-2024 academic year, Feltonfleet maintained a strong focus on monitoringteachin8 and learning across all four Sta8 of educatlon. Le550n observations. condurted by the Senior Leadership Team ISLTI, were followed by individual debriets to set approprlate tarEets to build on adaptive teaching excellence. A systematic programme of biweekly work scrutiny and scheduled Learning Walks was strengthened and complemented by Pupil Review meetings that encouraged cross-stage learning and en$ud ali8nment with the work scrutiny process. Pupll engagement was priorit15ed, with SLT meeting with pupils to discu55 their learning experiences. Pupil progre55 continued to be assessed through a comprehensive on d*a and tracking system and curriculum enhancements have been implemented at every stsge, from the extension ofthe Little Wandle programme in Pre-Prep to the introduction ofTimesTables Rockstars in Lower School, which has significantly improved students, multiplication skills. In Middle School, Atom Learning replaced BOFA for Pre-Test preparation, and A.1. workshops were introduced. Upper School highlights include the Year 8 PSPQ Extended projerts and various author visits. Educational excurslons across all year groups have enriched the learning experience, fosterin8 a culture of curiosity and enga8ement among pupils. Diversl & Inclusion At the start of the academic year the school's Equity, Diversity and Incluslon Poliry was updated with Significant change5. A glossary of terrlls was shared and familiarisation with this was encoura8ed. The EDI Lead was created to drive whole sch¢1 initiatives. The school held its first EDI Forums with parents. and the We Belon¢ podcast was established to harness belonglng across the School community. A Yearly Plan was introduced, calendaring each term to celebrate diversity and educate the school communtty. We embraced diversity. creating numerous opportunltles for education and celebration throughout the year. Bo in Under new leadership, boarding at Feltonfleet, including Friday nights, is thrivin& with the School being shortlisted for Prep School Boarding School of the Year. Feltonfleet's boarding house serves a£ a diverse and inclusive home away from home, where all puplls are encouraged to develop essential self-care skills and a strong Sense of belonglng. This supportive environment fosters friendships and a community spirit, allowlng pupils to thrive both academically and personally. For many senior pupils. the boarding experience equip5them with valuable skills needed for boarding at senior school and future boarding life, instilling confidence. independence, and resilience. The commitment to inclusivity ensures that every child feels valued and understood. maklng the boarding house a nurturin8 space that prep3res them for the challenges and opportunities that lie ahead. Char Feltonfleet continued to demonstrate a strong commitment to community and philanthropy. Following presentation5 on variou5 local charities from the Year 8 House Charity Reps. Cherry Trees was chosen as our school charity from September 2023. Representatives from the charty visited all year groups enlightening pupils about the impactful work they do. Various fundraising events. from discos to pre-loved clothes sales. f05tered a fun and engaging environment for Lower School, Middle School, and Pre-Prep pupils and parents. The Feltonfleet Warehouse continued its produttion efforts. crafting House merchandise and Christmas decoration5. Funds were raised for Macmillan through a successful cake sale and our annual fundraising for the Royal British Legion, featuring the Sale of poppies. garnered substantial support again this year. Feltonfleet families were invited to contribute towards Chery Trees Chri¥tmas Sacks, providing famili es with Christmas presents, The Friends of Feltonfleet Quiz. together with the Summer 8all. raised substantial funds for Cherry Trees. showcasing the generosity and camaraderie of the Feltonfleet community- The commitment of the Friends of Feltonfleet has been pivotal in creating a vibrant and supportive school community. The total raised over the course of the year was a fantastic £49,000. Page4
FELTONFLEETSCHOOL TRUST LIMrtED (LIMITED BY GUARANfEE} GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUSf2024 Slte Develo ment 2023-24 2023-24 site development has included refurbishment of Lower School. Calvi House, girls, Boarding facilitles. meeting rooms and stsff oreas. Additionally, the school has installed five new. ener efficient boilers, and replaced all existing lights and floodlights with energy efficient LEDS. Feltonfleet purchased 2.7 acres of land bordering the A245 in Autumn 2023. The land enables the construrtion of a one way system around the school and additional parking. subjett to planning permission. Biodiversity Net Gain IBNGI and enhancing the green chararter of tts site is a focus for Feltonfleet and the school has planted over 100 trees and thousands of woodland plants and bushes durins 2023-24. This is a part of a longer-temi scheme to plant over 500 trees and tens of thousands of plants and bushes over the n ext three years. Future Develo ment Plans be nd 2024 Although National Hi8hway5' workon the M25/A3 Junrtion has caused delays and disruption, it ha5 a150 presented a unique opportunlty for the school to develop its site. As part of the work on the A245, National Highways will close the school's current entrance and move it to a different location on a quieter road. Old Byfleet Road, the public road that runs through the middle of the school. will be stopped up and ownership passed to the school. This wlll create a private estate and allow the school to reconfigure how vehicles enter, move around and park on the srte. and to create a stronger, more connected link between the Prep and Pre-Prep areas of the school. The school will submit planning application for these works in November 2024 with the aim of starting constructbon in Spring 2025. AcadÈmic Actlvlties and Achievements Il+ Academic Scholarshi School Schotarship Whitgift Sportxl St Teresa's Academic x 2 aaremont Fan Court School All Rounder x I Epsom College Sportxl St John's School 5portxl Page 5
FELTONFLEEf SCHOOL TRusf LIMtrED (UMrrED BY GUARANfEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGusf2024 Year 8- Senior Sthool Scholarshi Ju 2024 School 5cholarshlp Head's Scholarship Drama Number 5ch¢Jol Scholarshlp Honoris Cau5a Number Box Hill School Eton Canford School Charterhouse Marlborough Reed's School Academic Sport Academic Sport Music Academic Charterhouse Cheltenham Colle8e Cranleigh School Cranlei8h School Cranmore School Cranmoreschool Cranmore School Reed's School 5t John's School 5t John's School St John'5 School St John's School stJohn'5 School Muslc Exhibition Sport (Hockey) Exhlbition Drama Desi8n & Engineering Sport Music Sport Academic Performing Arts Drama Epsom Colle Sport TOTAL 33 PrTeSt Results 2023-2024 Senior school pre-tests.. 63 Year 6 Pupils - 60 applied for p-test process 57 Successful Waiting List State Schoo5 Moving Abroad No application made School Lrfe Prep-Prep Nursery- Y2 Lowerschool f3&4, Middle School I5&6, Upperschool Y7&8 The Pre-Prep section had an excellent year with enrichin8 experiences such as a trip to W151ey for Nursery pupils. a festive pantomime vlsit for Year 2. and creative activities with children's author Helen Hamill. Outdoor learning and World Book Week were highlights. with pupils exploring wildlife and engaging in creative play. In the Lower School. the focus was on kindne, growth mindset, and independent learnin& with hi8hli8hts includin8 the Year 4 production of Peter Pan, educational trips, and co-currlcular activities like Bushcraft that boosted pupi15' confidence and life skllls. Middle School pupils, especially in Years 5 and 6, rose to the challenge of new routine5 and projett5 like Greek myths and creative LED lighting, while enjoying enrichment attivrtles and team building trips such as 'Go Ape. and a memorable Shropshire residential. In Upper School, Year 7 and 8 srudents embraced leadership and personal growth, orEanising events. participatin8 in academic. creative and performing arts projects like the fantastic Year 7 Musical Joseph. They also embarked on trip5 to France and Venice, which rounded off a year marked by responsibility, achievement, and the development of outstanding leadership and communication skills. Page6
FELTONFLEEf SCHOOL TRusf LIMrrED (LIMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORn FOR THE YEAR ENDED 31 AUGUST2024 ort Feltonfleet had a remarkable year in sports, with significant achievements across major and minor sports. Footba51 was introduced as a major sport for girls. who competed fiercely against strong teams, refletting the school's commitment to gender equality in sports. In hockey. the Ull gir15 became Surrey County Champions and the U13 girls secured third place at the IAPS Nationals, a first for the school. Netball saw over l(VJ fixtures, with the 1st Vll winning most of their matches. while rugby produced satisfying victories against tough opponents. Boys, cricket teams boasted an impre55rve 80% wln rate, with the U13s finishing as runners-up in the Surrey Prep Schools Cup. and the Ulls enjown8 an incredible season. Cross- country was another highlight, with top finishes in multiple competitions. including virtories at St. Hilarfs and Danes Hill. In athletics, Feltonfleet Shone at the Aldro 8 meet. with several individual wins. Swimming team5 excelled at the Ull and U13 ESSA competitions, while in shootin& Feltonfleet maintained its strong legacy with vittorie5 in several matche5. Golf teams secured wins against Cranmore and Danes Hill. and tennis teams achieved outstanding results. with the Ulls winnin8 the Surrey League County Cup. Throughout the year, Feltonfieevs commitment to fostering skills like leadership. teamwork, and resillence wa5 evident. providing pupils with countless opportunities for success and growth acros5 all sporting discipline5. P rformin Music continues to play a central role at Feltonfleet developin8 pupilg musical literacy and abilities and contributing to cognitive development and academic cutture. There were 271 lessons each week. supported by a talented team of 16 peripatetic teachers. Throughout the year, pupils had numerous opportunities to perform, including in Coffee Concerts, where a varietyof instnjments were showc35ed. Many students excelled in Associated Board music exams. achieving merits and distinctions, while several also secured music scholarships and awards. Choirs remained a key part of the musical landscape. with the Upper School Choir delivering a memorable performance at Evensong. Festive highli8hts included the Grandparents, Carols and our Carol Sefvices at St. Andrew's Church. Year 6 pupils performed with the Guildhall Choir at the Barbican and participated in an Orchestra Day. Theyear wrapped upwiththe May Instrumental Gala and a Summer Concert, celebrating the diverse musical talents of our students. Drama at Feltonfleet is an inclusNe and vibrant part of the performin8 arts life. with every pupil having the opportunity to perform, Year 5 brought Rudyard Kipling's Just SD Stories to life, showcasing collaboration and hard work in a production that made the school proud. The Year 7 musical 15 a key highlight of the Feltonfleet journey, fosterin8 community and spirit. This year's production of Joseph wa5 no exception, featurin8 outstanding performances and a seamless blend of singing, dancing, and acting. Over 50 pupils also honed their individual performance skills throu8h LAMD& building confidence and communication. In Dance. pupils explored a variety of styles, including Acro. Ballet, and Tap. with 56 pupils achlevin8 100% pass rates in Royal Academy of Dance ballet exam5 Creative Arts Design and Technology at Feltonfl&t Is an engaging subject that highlights problem-solving, innovation. and design choices. Year 5 pupils crafted personalised rulers using Computer-Aided Design, while Year 6 created intricate laser-cut lanterns. Year 7 explored eco-conscious design, transforming plastic bottle tops into keyrings and printing unique fabric products. Year 8 delved into Artificial Intelligence for design, producing nature-inspired items like bird boxes and bu8 hotels to attract wildlife. This creative journey showcase5 unexpected results at every stage, including wojects like the Year 5 Remembrance poppy display and collaborative steady hand games in Year 6, a5 well as designing with SMART materials in the EDI project for individué15 With disabilities. The artistic process is about enjoying the creation Journey, allowing pupils to express their creativity 2nd develop their own ideas and styles. The Termly Calendars provide a glimpse into the artistic talent at Feltonfleet, with the Year 8 Scholarship Group's high-quality artwork displayed in the Ashbee foyer, reflecting their exceptional skills, alongside the continued excellence of Year 6 and 7 artists in the Scholarship and Extended Art Group. Page 7
FELTONFLEEf SCHOOL TRusf LIMtfED (LIMITED BY GUARANfEEJ GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGusf2024 Ta ets for academ ar 2024-25 Our Five-year Strategic Plan 12019-241 clearly outlines our future priorities and objecrive5, focuslng on five key areas essential for our continued succe5s'. Identity. Educational Excellence, Well Being & Community. Communications & Admisslons and Enterprise & Infrastructure. Our vision is to provide an outstandin& well-rounded education that nurtures, supports, and challenge5 each child. promoting both personal and academic growth. We prioritise pastoral care and aim to empower pupils to become well- rounded individuals prepared for senior school and communiry involvement. Exceptional teaching and learning are at the heart of our mission, complemented by our commitment to social pOnsIbIlity and attive citizenship. Target areas for 2024-2025 focus on fostering educational excellence and enhancin8 well-bein8 Withln the school community. To inspire academic ambition and resilience. the curriculum will be both challenging and adaptable. with a forward-looking approach toward Al and emerging digital technolo8ies. Inclusive participation in co<urricular activities will be encouraged, while professional development Initiatives will aim to inspire innovative teaching practices. Additionally. efforts will be made to build pupils, confidence in articulating their thoughts. ideas, and opinions, creating a whole-school toolkit for mental and physical fitness. Developing pupils, emotional literacy skills wlll be essential for managing soclal challenges, and provisions will be irnproved to inCaSe access to school counsellin8 and professional services. FINANICAL REVIEW General Review The School's principal funding Source is school fees and this income is used to support the key objectives of the School as documented elsewhere in this reporL Reseryes have increased by £639,94012023: £596.6901 duringthe year to total £10.569.76012023= £9,929,820) at 31 August 2024. Of total reserves, £111,18212023= £128.206} has been designated for the provislon of bursarie5 and £3,416 {2023'. E4,6581 Is restritted in relation to the refurbished kitchen l&iving£lO,455,16212023- £9.796.955 } unrestricteLI funds. The Governors have maintained their commitmentto the improvement ofthe School's infrastrutture during the year a5 part of an ongoin8 program of capital expenditure. A total of £1.018.881 {2023: £863,100) wa5 spent on capital projects and substantial additional expenditure was incurred for major refurbishments throughout the School estate. The School had free reserves {fixed assets and current assets less credttors) at the year-end of E2.306,82212023: £2,193.9281. The School's reserves policy is to ensure that its financial affairs are maintained within a tight budget that 15 approved by the Governors. The Governors considerthat, in the eventof a significant drop in short-term fundin& they will be able to continue the School's activities while consideration is given to ways in which additional funds may be raised. Mr Giles AShe Chairman Page 8
FELTONFLEEf SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI REPORT OF THE INDEPENDENT AUDITORSTOTHE MEMBERS OF FELTONFLEEf SCHOOL TRUST FOR THE YEAR ENDED31 AUGUST2024 Our approach was as follows.. We identified areas of13ws and regulations that could reasonably be experted to have a material effett on the financial Statements from our general settor experience, and through dlscussion with the governor5 and other rnanagement las required by auditing standards), and discussed with the governors and other management the policies and procedures regarding compliance with laws and regulations (see below); We identified the following areas as those most likely to have such an effect.. health and safety; General Dats Protettion Regulation (GDPRI; fraud- bribery and corruption, school inspections, keeping children safe in education, DBS check5, and employment law. Auditing standards limtt the required audit procedures to identify non<ompliance with these laws and regulations to enquiry of the governors and other management and inspection of regulatory and legal correspondence, if any. The identified attu31 or suspected non-compliance was not sufficiently significant to our audit to result in our response being Identified as a key audit matter. We considered the le8al and regulatory frameworks directly applicable to the financial statements reporting frarnework IFRS 102, the Companies Art 26 and the Charities Act 20111 and the relevant tax compliance regulations in the UK. We considered the nature of the charitable companVs operations. the control environment and financial perfomance. We communicated identified laws and regulation5 throughout our team and remained alert to any indication5 of non-compliance throughout the audit. We considered the procedures and controk that the charitable company ha5 established to address risks identified. or that otherwise prevent, deter and detert fraud- and how Senior management monitors those programmes and control5. Based on thls understanding we designed our audit procedures to identify non-compliance with such laws and re8ulations. Where the risk was considered to be higher, we performed audit proCedUS to address eh identified fraud risk. These procedures included.. testing manual joumals- reviewing the financial statement disclosure5 and testing to SUPPOrting documentation,. performing analytical procedure5- and enouiring of management. and were designed to provlde reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit. thwe is an unavoidable risk that we may not have detetted some material misstatewents in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example. the further removed nonvcompliance with laws and regulations {irregularitiesl is from the event5 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 irre8ularities 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 detett non-compliance with all laws and regulations. Use of our report This report is made 501ely 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 auditors. report and for the no other purpose. To the fullest extent permttted 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 audtt worl or forthe opinions we have fomed. Mark Cummlns FCCA (Senlor Statuto for and on behalf of TC Group Statutory Audltors Office.. Steynin& Westsussex ditor) Pdge 12
FELTONFLEET SCHOOL TRUST UMITED (LIMITED BY GUARANTEEI REPORT OF THE INDEPENDENf AUDITORSTOTHE MEMBERS OF FELTONFLEEfscHOOL TRusr FOR ThE YEAR ENDED31 AUGUST2024 Matters on whlch we are required to report by exceptlon In the lightof our knowledge and understanding of the charitablecompanyand itsenvironment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the dlrertor5' report. We have nothing to report in respect of the followin8 matters In relation to whh the Companies Act 2006 requlres US to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches nOtVlted byus- or the finandal statements are not in agreementwith the accounting records and returns: or certain disclosure5 of directors, remuneration specified by law are notrnade; or we have not received all the information and explanations we require; or the directors were not entitled to preparethe finanual statements in accordan with the small companies, reglme and take advantage of the small companies. exemptiOF15 in preparin8 the governors. report and from the requirement to prepare a strategic report. Responslblllties of gt)vernors As explained more fully in the governors, responsibilities statement, the governors (who are a15D the direttors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they Eive a true and fair view, and for such interna5 control as the governors determine is nece55ary to enable the preparatlon of financial statements that are free from material mlssLitement, whether due to fraud or error. In preparing the financial statements. the governors are responsible for a55essin8 the charitable company's ability to continue as a goin8 concern. disclosin& as applicable. matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charitable company or to cease operatlons. or have no realistic alternative to do 50. Audltor's responsibllltles for the audlt of the financial statements Our objettives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi5Statement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable a55urance is a high level of assurance, but is not a guarantee that an audit condutted in accordance with ISAS IUKI 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. A further description of our responsibilities for the audlt of the financial statements 15 located on the Financlal Reporting Council's website at: www.frc.or8.uklauditorsresponsibllities. This description fomis part of our auditor's report. Irregularirles. including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities. includin8 fraud, is detalled below. Extent to whkh the audit was considered capable of deterting irregularities includlng fraud The objettives of our audit, in respectto fraud. are= to identify and assess the risks of material misstatement of the financial Statements due to fraud- to obtaln sufficient appropriate audit evidence regarding the assessed risk5 of mat£rial mi5Statement due to fraud. through desiEning and implementing appropriate responses- and to respond Ippropriately to fraud or suspetted fraud identified during the audit. However. the primary responslbilty for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Pagell
FELTONFLEEf SCHOOL TRUST UMITED (LIMITED BY GUARANTEE) REPORTOFTHE INDEPENDENf AUDITORSTO THE MEMBERS OF FELTONFLEET SCHOOL TRUST FOR THE YEAR ENDED 31 AU6usf2024 We have audited the financial statements of Feltonfleet School Trust Limited {the 'charttable company.) for the year ended 31 August 2024 which compromise the Statement of Financial Activities, the Balance Sheet. the Cashflow Statement and notesto the financial statements. The financial reporting framework that been applied in their preparation 15 applicable law and Llnited Kingdom Accounting Standard5, including Financial Reporting Standard 102 The Financial Reporting Standard applicable In the UK (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affair5 a5 at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally ACpted Accounting Prattice: and have been prepared in accordance with the requirements of the Companies Act 2006. Basis of oplnlon We condutted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statement5 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 thè provisions available for small entities, and we have fulfilled our ethical responsibilities in accordznce with these requirements. We believe that the audtt evidence we have obtsined is sufficient and appropriate to provide a basi5 for our opinion. Conclusions relating to Eolng concern In auditing the financial statements, we have concluded that the governorfs use of the going concern basis of accounting in the preparation of the financi31 statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to event5 or condttions that, individually or collertively, may cast doubt on the charitable compan¢s ability to continue as a 80ing concern for a period of at least twelve months from when the financial statement5 are authorised for Issue. Our responsibilities and the responsibilities of the 8overnorf5 With respett to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report. including the governor'5 report, other than the financial statements and our auditor's report thereon. The govemors are responsible for the other information. 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 notexpres5 any form of assurance conclusion thereon. In connection wlth our audit of the financial statements, our responsibility is to read the other information and, in doing so, conslder whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the aud¥t 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 thefinancial statements ora material mi55tatement of the other information. If, based on the work we have performed. weconcludethatthereisa material misstatementof thisotherinformation,we are requiredto report that fact. We have nothingto report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit- the information given in the governors, report {incorporating the strategic report and the directors report) for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Strategic report and the dirertors. report have been prepared in accordance with applicable legal requirements. Page 10
FELTONFLEET SCHOOL TRUST UMITED {LIMITED BY GUARANTEEI STATEMENT OF GOVERNORS, RESPONSIBILITIES FOR THE YEAR ENDED 31 AU6UST2024 The Governors, who are a150 the director5 for the purposes of company law, are responsible for preparing the Governors, Report lincluding the Strategic Report) and the financial ststements in accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Prattice). Including Financial Reporting Standard 102 Yhe Financial Reporting Standard in the UK and Republic of Ireland.. Company law require5 the Governors to prepare financial statements for each financial year which give a true and fair view of the affairs of the Charitable Company and of the incoming resources and application of resources, Including the income and expenditure, of the charf(able company for that year. In preparing these financial statements the Governors are required to: select suitsble accountin8 policies and appty them consistently. observe the methods and principles of the Charities. SORP; make judgements and estimatesthat are reasonable and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will not continue in operation. The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charffcable 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 irre8ularities. Page g
FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING INCOME AND EXPENDfwRE Accovmn FOR THE YEAR ENDING 31 AUGUST 2024 Notes Unrestrirted Funds Restricted Fd$ Designated Funds Totsl 2024 Total 2023 INCOME FROM: Investments 82.937 9,049.695 82,937 9.049.695 9.132,632 Charitsble activities 8.465,086 8,465,086 Total income 9,132.632 EXPENDITURE ON: Charitable activities 8A92.692 8.492.692 8N92.692 7,868,396 Total expendlture 8,492.692 7.868,396 Net Income 639.940 18266 658.206 639.940 596,690 Transfers between funds 11.242) 11.242) (17.024) (17.024) 639,940 596,690 Net movement in funds Fund balances brought foThvard 9.796.956 458 128.206 9.929.820 9,333,130 Fund balances carrled forward 10.455.162 3A16 111.182 10,569,760 9,929.820 All income and gains for the year are recognised above. All of the school's attivities are classed as continuing. The Statement of Financial Activities also complie5 With the requirements for an income and expenditure account Page 13
FELTONFLEETSCHOOL TRUST UMITED Company Numbw: 00911933 (LIMITED BY GUARANTEE) BALANCE SHEET AS AT31 AU6U5T2024 Notes 2024 2023 FIXED ASS5 Tangible assets CURREW ASSErs Debtors Cash at bank and in hand li 8.148.340 7,603,028 IA06.978 5.951.576 7,759,554 1.839.170 4,349.860 6.189.030 CURRENT LIABILITIES Creditor5 due within one year NET CURRENT ASSET5 13 {4.139M6) 13,862,238) 3,620,068 2,326,792 TOTAL ASSETS LESS CURRENT LIABILITIES NON CURRENT LIABILITIES Creditors due after one year 11.768A08 9.929,820 {1198.648) NET ASSErs lo69,760 9,929,820 REPRESENTED BY: 20 REsfRICTED FUNDS 3A16 4.658 UNRESTRICTED FUNDS General funds IOA55.162 111.182 9.796.956 128.206 Designated funds 10.566344 9,925,162 9,929,820 lo69.760 The accounts were approved bythe Board of Governors and signed on their behalf by.- Mr GI1 Ashb IChaim)anl Date.. 26 Feb 2025 Page 14
FELTONFLEET SCHOOL TRUST UMITED {LIMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGusf2024 Notes 2024 2023 Cash flows from operatlng activities: Net Income/(eXpendire) for the year Adjustments for: Interest received 639.940 596,690 {82,9371 473,569 Depreciation Lossllprof it) from sale of tangible fixed assets Ilncreasel/decrease in debtors Incre3se/ldecreasel in creditors Cash inllow/(ouffiow) from operatlng artlvltles 425.358 2,120 1910,9171 214.705 (268,7341 32.192 In7595 1.898.719 Net cash Inflow from operatlnE acthiities 2,538.659 327.956 Cash flows from investlng artlvities: Interest received Capital additions Net cash outAow from Investlng artivliles 82.937 11,018.880) li 1863,1001 {935.943) {863,100) Total net movement 1.602.716 {535,144} Cash and cash equivalent5 at the beginnlng of the year Cash and cash equivalents atthe end olthe year 4.349,860 5.952.576 1.602,716 4,885,004 4.349,860 1535,1441 Page 15
FELTONFLEET SCHOOL TRUST LIMITED {LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf2024 ATUTORY INFORMATION The charity is a charitable company* limited by guarantee, registered in England and Wale5. The registered office. company number and charity number are detailed in the Legal and Adminlstrative Information. AccouffflNG POLICIES 2.1. Basis of preparation The financial statements have been prepared under the Companies Act 2006 and in accord3nce with the Charities. Statement of Recommended Prartice (SORP (FRS102)l and Financial Reporting Standard 102. The Charitable CoTnpany meets the definition of a public benefrt entity under FRS102. Assets and liabilities are Initially recognised at co# or transattion value unless Othenvise stated in the relevant accounting policy. The financial statements are prepared in Sterli which is the functional cUrr)cY of the charity. Monetary amounts in these financial Statements are rounded to the nearest pound. After reviewing the Charity's forecasts and projertions. the Governor5 have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the goin8 concern basls in preparing its financial statements. 2.2. Income Fees receivable and char8e5 for services. less any allowances. scholarships and bursaries granted by the school against those fees are accounted for in the rIOd in which the service is provided. Where fees are received for a future seNice period they are included in deferred income, including those fee5 received under an advance fee payment scheme. The services provided are outside the Scope of VAT. Investment income is accounted for on an accruals basis. Donations. legacies, grants and other voluntary income are accounted for as and when entitlement arises, the amount can be reliably measured and the economit benefit bs considered probable. Where a donor or an appeal has imposed restrlrtnS the income is credited to a restricted fund. 2.3. Expendlture Expenditure is accounted for on an accrua15 basis with irrecoverable VAT included with the item to which it relates. Govemance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the chartty. A11 costs are allocated between expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relatin8 to a particular activity are allocated direttly. 2.4. Tan8ible flxed assets and depreciatio Tangible fixed assets Other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the c05t less estimated residual value of each asset over rfcs expected useful life as follows- Freehold land Freehold buildings Fixtures, fittings and equipment Motor vehicles Not depreciated 10, 15 and 40 years straight line 8 years Straight line 5 year5 Straight line 2.5. Leaslng and hire purchase commitments Rentals paid under operating leases are charged agairst income on a straight line basis over the period of the lease. Pa8e 16
FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 2.6. Pensions Teaching staff are members of the Teacher5. Pension Scheme (TPSI. a defined benefit scheme administered by the Teachers, Pension A8ency. Contributions to the scheme are charged to the Statement of Financial Artlvitie5 as they fall due. The TPS is an unfunded scheme. Contributions on a 'pay as you 80, basis are credlted to the exchequer under arrangements governed by the Superannuation Att 1972. Attuarial valuations are carried out on a notional set of investments. Under the definitions set out in FRS 102 the TPS is a multi-employer pension scheme. The Charity is unableto identify it5 Share of the underlying Inotionall assets and liabilities of the scheme. Accordin8ly, under FRS 102 the Scheme is accounted for as if it were a defined contribution scheme. The Charity also contributes to personal pension schemes for its non-teaching stsff. 2.7, Debtors Trade and other debtors are recognised at the settlement amount due afterany trade discount. 2.8. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investment5. The governors seek to Use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow, 2.9. Creditors and provlsion5 Creditors and provisions are recognised where the charity has a present obligation resulting frorn a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. 2,10. Stocks Stocks are stated at the lower of cost and net realisable value being the estimated selling price les5 Costs to complete and sell. 2.11. Fund accounting Unrestricted funds comprise those funds which can be used in accordance with the charitable objects at the discretion of the Governor5. Designated funds comprise those funds set aside by the Governors out of general funds for specific purposes or projects. Restritted funds are those funds that can only be used for particular restricted purpose5 in accordance with the wishes of the donor or when funds are raised for particular restricted purposes. 2.12. Crltlcal Accountin8 Estlmates and Jud8ment In the application of the Charitys accounting policies. the (klvernors are required to makejudgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimate5. The estitnate5 and underlying assumptions are reviewed on an on80ing basis. Revisions to accountin8 estimates are recognised in the period in which the estimate 15 revised. The Governors do not consider that the are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements. TURNOVER The turnover ofthe Charty is wholly attributable to the objects of the Charity as stated in the Governors, Report and is earned entire within the UK. Page 17
FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 NET INCOMEI{EXPENDITURE) This IS stated after charging.. 2024 2023 Operating lease payments Depreciation Prof itl{lossl on disposal of assets Auditors, remuneration - audit services Auditors, remuneration - non-audit services 92.203 473,569 152,841 425,358 380 12,600 1,320 14,160 23,460 TAXATION The charitable COTnpany is reglstered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010. INCOME FROM INVESTMENTS UNRESTRICTED RESTRICTED DESIGNATED TOTAL 2024 TOTAL 2023 Interest 82.937 82,937 INCOME FROM CHARITABLE ACtIVlTIES TOTAL TOTAL 2024 2023 Gross school fees less bursaries and allowances Net school fees Add: Registration fee5 Extras income Other income 9,517,745 (605.915 8.911.830 8,793.450 1531,6051 8,261.845 12,OtM) 113.447 12A18 9.049,695 14,300 92,543 96.398 8.465.086 Page 18
FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 8. ANALY51S OF EXPENDITURE stsff Other Total Total Depreclatlon costs 2024 2023 Charitable expendrture: Education Teaching Welfare Premises Support and governance Totsl ¢harltable expenditure 4,545,380 359.419 46.685 771,822 5.723306 96.090 349,648 693,614 808.829 443,726 2.295A17 4.991.118 1.053A133 LZ32.993 1.215,548 8A92,692 4.661.529 1,010,542 1,030.086 1,166,239 7,868396 377,479 47369 Analysis of support and governance costs: Totsl Total 2024 2023 Governance w5t5: Auditors remuneration for audit seiceS 12fi00 14.160 Total govemance costs 12.600 14.160 Support Costs: Auditors, remuneration for non audit services Legal and professional fees relatin8 to support Support staff wages. national insurance and pension Other sUPPOrt costs 1.320 16,243 77122 413,563 1215y8 23,460 66.015 704.835 357.769 1,166,239 Page 19
FELTONFLEET SCHOOL TRUST LIMITED (LIMED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 9. sfAFF COSTS The average monthty numbèr of employees duringthe yearwas: 2023 Number Number Teathing Domestic 70 69 14 Admlnistration 14 16 97 99 The 2023 dls¢losure has been adjusted to algn the dassifi¢ation of employees wlth 2024 tlassiftcatlon crlterla. The aggregate payroll costs forthe year were a5 follows: 2024 2023 Wages and salaries Social security costs Pension costs 4A78,289 452,801 791216 4.074.022 416.745 718.466 5,723.306 5,209,233 None of the Governors received any remuneration. reimbursed expense5 or other benefrts from the school or any connetted body. During the year there were redundancy payments made totaling ,121 (2023: E19.4661. Staff earnlng In excess of £60,000 per annum in thefollowin8 bands are: 2024 2023 Number Number £60,OLK)- £69,999 £70,000- £79,999 £80,000- £89,999 £90,000 - £99,999 £100,000- £109.999 Contributions totalling £142.464 12023: £50.523) were made during the year to pension scheme5 on behalf of employees whose emoluments exceeded £60.000. Of thi5. payments of £126,722 were made towards the Teachers Pension Scheme (IPS"). payments of £9.253were madetothe Royal London Defined Contribution Scheme and £6,489 towards the Royal London Pension Scheme. Pa8e
FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 STAFF COSTS Icontinued) Key mana8ement personnel: 2024 2023 Aggregate employee benefits of key mana8ement personnel {including employer national insurance and pension contributions) 1248.727 1.028,170 The key mana8ement personnel of the School are detailed in the Governors. Report and Legal and Administrative Information. The School has a Senior Leadership Team of seven focusing on the strategic elements of managing the School. In addition, there 15 a Senior Management Team of six who focus on the operational running of the School. All of these individuals make up key management personnel. 10. COMPARATIVE STATEMENT OF FINANCIAL AcnvtfiES - 31 AUGUST 2023 Unrestrirted Restrirted Funds Designated Funds Totsl Funds 2023 INCOME FROM: Charltable activities 8.465,086 8.465.086 8.465,086 Totsl income 8,465,086 EXPENDITURE ON: Charitable activities 7.868.396 7,868,396 7,868,396 Total expenditure 7.868,396 Net Income 596.690 596,690 Transfers between funds Net movernentln funds 14,6581 592.032 4,658 4.658 596,690 Fund balances brought fonmard Fund balances carrled forward 9.204.924 128,206 9.333,130 9,796.956 4,658 128,206 9,929.820 Page 21
FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 11. TANGIBLE FIXED ASSEts Freehold Fixtures. Plant & Motor Land and Fittin8s & Machlnery Vehbde5 Buildings Equipment Outslde IT Total Facilities Project Cost At I September2023 Additions At 31 August 2024 Depreciation At I September 2023 Charge for year At 31 August 2024 10.964,109 537,506 11.501,615 721,443 198,153 919.596 24.410 2A54 26,864 171,304 154,467 325,771 718,997 122,599 841,596 28,531 12,628,794 3,702 1.018,881 32,233 13.647ffi75 4.113.971 338,748 363,943 79,737 443.680 2.190 3256 5,446 151.526 9.479 381,613 38.731 420.344 12,523 3,618 16.141 5,025,766 473,569 5A99.335 4.452,719 161.005 et Book Value At 31 August 2024 At 31 August 2023 7,048,896 475.916 21A18 22,220 164,766 421.252 16.092 8.148,340 16.007 7,603,028 6,850,138 357,500 19,779 337.384 12. DEBTORS 2024 2023 Fee debtors 1.61Z,ZII 194,419 1.651.888 170.173 17.109 1.839,170 Prepayments and accrued income Other debtors I06.978 Page22
FELTONFLEET SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 AUGUST2024 13. CREDITORS Due within one year 2024 2023 Trade creditors Tax and other Social Security Accruals and other creditors Fees in Advance and deferred income Depostts 275A97 106,703 97.678 3,160.308 498,900 4.139A86 223,682 78,171 2,982,335 578,050 3,862,238 Fees in advance and deferred income includes £2.702.263 in re5pert of amounts due for Autumn term 2024. Due wlthln more than oneyear 2024 2023 Fees in Advance and deferred income 1,198,648 1.198,648 Page 23
FELTONFLEET SCHOOL TRUST UMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 14. ADVANCE FEES PAYMENT SCHEME Parents may enter into a contract to payto the school tuition fees in advance. The money may be returned subject to specific conditions upon the receipt of oneterm's notice. Assuming pupils will remain in the Sch1, advance fees will be applied a5 below. 2024 2023 Amounts due within one year Amounts due over one year 458.040 1,198,648 1.656,688 The balance represents the accrued liability under the contracts. The movements during the year were- 2024 2023 Balance as at I September 2023 Amounts received in year Arnounts credited to pupil accounts for fee5 Balance as at 31 August 2024 1.775.251 1118.563) 1.656,688 15. COMMrrMENTS UNDER OPERATING LEASES At 31 August 2024 the company had total commitments under non-cancellable operating leases payable as follows.. 2024 2023 Within one year Between one and flve years $4.793 S569 110,662 92,203 42,239 134.442 16. OTHER FINANCIAL COMMITMENTS Capitsl commitments At the balance sheet date the school had no copitsl commttments (2023: £Nil). Pa8e 24
FELTONFLEET SCHOOL TRUST LIMITED {LImED BY GUARANTEEI NOTES TO THE FINANCIAL sTATEMErs FOR THE YEAR ENDED 31 AUGUST2024 17. PENSION COMMmENTs The School partlcipates in the Teacher5, Pension Scheme 1.the TPS"} for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £880,181 (2023.. £660.0751 and at the year-end £nil12023- £nill was accrued in respett of contributions to this scheme. The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers, Pensions Regulations 2010 las amended) and The Teachers, Pension Scheme Regulations 2014 {3s amended). Members contribute on a "pay as you go basis with contribLrtions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is Set by the secretary of State following scheme valuation5 undertaken by the Government Actuary's Department. The most recent actuarial valuation ofthe TPS was prepared as at 31 March 2020 and thevaluation Report was published in October 2023. Following the Mccloud judgement, the remedy proposed that when bew)efits become payable. eligible members can select to receive them from etther the reformed or le8acy schemes for the period l April 20 to 31 March 2022, The artuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020valuation has valued the'greater value. benefit5 for groups of relevant members. The employer contribution rate for the TPS is 28.6%. and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28,68%. The School a150 contribe$ to defined contribution schemes on behalf of its staff. Employer contributions payable to these schemes were £88,205 12023.. £58,391) and at the year-end nil12023.' £nill was accrued in respect of contributions due to these schemes. 18. SHARE CAprrAL AND coMfROL The Charity is limited by guarantee and does not have a share capital. In the event of a winding up each member guarantees to contribute an amount of no more than £1. 19. REIATED PARTIES There were no related party transactions during the year12023: none). Page 25
FELTONFLEEf SCHOOL TRUST LIMITED ILIMrrED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 20. SUMMARY OF FUND MOVEMENTS Asat31 August 2024 Asati Sept 2023 Income Expenses Transfers Unrestricted tunds General reserves 9.796,9S6 9.132,632 (8,492,692) 128,206 9,925,162 9.132,632 {8.492.6921 18.266 10,455,162 117,0241 111,182 1.242 10.566,344 De5i8nated funds Restrirted funds Holroyd Howe Total fvnds 4.658 11.242) 3A16 9,929.820 9,132,632 18,492.692) 10.569,760 Designated funds: The Governors designated funds in order to provide ft)rthe provision of bursaries. Restrirted funds: In 2022 the School entered into a contractwith Holroyd Howefor cateringservices and as part of that agreement Holroyd Howe provided a donation of £6,211 towards a gas fryer. Should the school end the contract within five years they are required to pay backthe donation pro•rata with the term of the contract remaining. The transfer to unrestritted funds above represents the final pro rata amount forthe year. Pa8e 26
FELTONFLEET SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 AUGU5T2024 21. ANALYSIS OF NET ASSEfs BETWEEN FUNDS Unrestrfrted Deslgnated Funds Restrfcted Total Funds Funds 2024 At 31 August 2024 Tangible fixed assets Current assets Creditor5- more than one year Creditor5.' less than one year ,148,340 7,635,496 (4,139,486) 11,198.648) 10,445,702 8 148340 7,759,554 14,139A86) (1.198,648) 10,569.760 111.182 12,876 111.182 12,876 Unrestrlcted Desi8nated Funds Restrirted Funds Total Comparative Funds At 31 August 2023 Tangible fixed assets Current assets Funds 2023 7,603.028 6 056.167 {3.862.2391 9,796,956 7,603,028 6,189,030 13.862,2391 9,929,820 128.206 4,658 Creditors: less than one year 128,206 4,658 Pa8e 27