HAZELWOOD SCHOOL .(A Charltabie:Educational Trns't Llmlted by GuararitO0) Company No. 925581 R8glstored Cbanty No: 312081 GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE. YEAR ENDED" 3tST JULY 2023 'WPSCV6* 11Y0412024 COPIPANIES HOUSE A17
293
Hazelwood School {A'Cliaritable Educatlonal.Trii8t Llnilt¢d.'by. Guarantee> Reference an'd Adminlstrative Detalls N, Cer.pe99" CafflpbeillaFpoirteO" i31h.Septerithr2023j'. J.'C(i?198 Curson Ir•signed 26th June 2023) D. Pffjè (•ppc+irileO.13th'M•r¢ii 20231 _ r..Prod(>r Ir•swJnéd 71hDecemb•r 2022). M.Rthqn (appointed l$l Marth2023j G. Reody.(r¢Btgne¢i 7Vi Oecember 202"2}. 8.':Thak¥ S; Heald (restr 7trtOecÉrrthr2t)22) R:.Fiealon.jCtia¥). ••d ..Rg91glered Qffic• Woif&H 8aidays Bk Wc gSlatOi7 Road W861 'Surny Ri8 gEF .Solkltors Was!>iouiih L&¥yws "th3rdCoiin Orchaitt ian#.. 8RISTOL'BSI gAIS' MO0 Kingston Smith LLP 6th Fkjor 9AppokJ Street London EC2A 2AP
Hazelwood School .(A'Charitsbh Edu¢aiional.Trust Lhnlt•d by Guaranto0). 'Governors'.Report ".forthe.y.ear ended 31st July 2023.. lritrodu¢llon"" Ttt'?"GoverrKirs havè p1fras wi w¢rth¥4 thÉir of the 8ffdrn"olHazeÈwod scho(.(e.SthLj lor the year . erideo 3151 July 2023 tO9elhèr Nlh the audlt8d finl>al 8talèrnenlg lor that petti. These h3vo b•en'prèp810d iri aLy)jrd?ri with the" SialeThenl ol Reconnded PRdKe tin Acttmintwd 8nd Rel119 by Ch'afitle$ Ifhe FRS 102 SORP),.'c4iir¢iii staiulw the Ch0rfW$ AssodatioFL'" Charilabl• Objeets Tho oblèèA$ whKh'lhB Tw%1 is eabknhel •.1 pro1...1 0ducati¢ kn"pa.FlkaJlar.ty..tho" ' pro¥i5ion'iif• scknooj lor th8 •thKarin olthtklren ¢ltoth 5WS." .Gov•rnane• •nd Manag•m•nt: "Hai¢K¥ood' Sthiol is"a co91sr4d 4•rtJi,(No 312081j-"•J 4 n'.1K¢d'bY gu¥¥nleo'{No 92SS81). ri.'Is gov•ifted ty its M•rnoraAditin •Thil A.$ Of Asswali(In, The".Bo¥d".of Govun$ (the 800rf1..18 9uidÈd ty'li% 'Govefft¢n¢O DCMeI, la6t UF4Jale¢l In j)e.2017. 'The lmI)erS of ihe.8oard. weig TnjSl""or Ihe adibiueg •ftd"Owed(¥s"of'the".Cofvw8ny lar.tiie ..PuSeS ofthe Companw A¢k21kn t1uiknJ yw.ended 31s1 2023. are shinn.cn p3gJ l." On 8pwnitMI[ Gov¢mw3 wo¥lde4 h..eIss¥• info1 rAc guKleline$"oA G0Venilp.. 'Th¥y arè enraged to #itend familW?n visits lo Ihg School J all Gov¢rnors'are oPp¢1ets to Ottend .sern!tiars rrin'by. prof8s$ioTral'btsthe5 10 ertarice aWar¢n ol.lth gove[n3r.5k1ls ari(i #¢hool manHgem•nt The full 80ord m8ei¥ knjr tjriws a yèarvriih rrieeiln 5caieiiuigd theAulimin lefffl.. thg ffirst is a:'ratth up 8oard.' Me&thn9' fl0vIn9..th8 6iimm¢i vAlh'l1 seciNKI lakry lh• 5hapv of a dafs,•iimw6K)n al.Iho'"Schoot. Ati the,: Governor Committees.'IFinarè,& Gefieral'Pwses,:'N¢rninakn &.RernuneFation.- C(Impliance. Educalbon"and ,Pwpety) eontinuè to in¢et ai &'ast on¢• • tènn Th¢ Audil Cominittep ffets 1¢0 a year lo pffjvide OVeWi1 ofthe,. "Sd)¢)ol's finarttiol managèmtrt, rsf Ihe"anrtiial"fianc4al' 8talert)ents and of.lhe S¢htiofs èxt¢mal al0.. Th• ,Sehool ha$ a.vknolly oYrfd Irat1tpy s$•. The Laths 81 LaveroL Uniièd, 1th fvn$ a day nurwy for thmdren. •geO 6 frwth6 10 4 years.'1ts 8oard me•1$ at teast ¢fi a lernL Hèad. •S$k81 by the S•nior Leai!er$lNp Team, r•sponsiWe f¢)r Ihe'day lo day iTh•¥ag¢nwnt-ol thé Sth'iiol r8ptyts dweclty Io lh• Go¥emlng Btyli. Strale91¢ Rwort Prin¢ipal Rl¥k¥ and Un¢ort4inii•s. The focus"'of the laiesl fev of Prwwie Fiisks was lo bjentify rAffent ftgks assouediiftlh c418nt., e()1C fA)n-th"IIM¥. riwi inIn swos$1ires and Inle[e taw Inww. In •dditlLYF, G¢v¢rntys nue lo ie¥kn¥ nol'w IP1•"ap&ilKati of thwiory Miiipfiancè •thi be51 yaciic•." b. also lh¢ Olher m81 risks fo the'SclWI Is •y4osed ensur¥ ihai ryirilrols are wl IA pla¢8 lo Thitigit• lhose risks.. The School8 Risk M•ia9#ment Registor detai15 rfsk"•¥p05we hKludin9 its-obiecis. Cb•rtty L•Y and RegUlOn, Go¥wiaKe t•id Manageniènt. Exierrial Irifluen.. EriviixMn¢rf81 Healih. 8 Safety. Oper81ional Pro¢e$$es. TechnolcrfJtsl. Acadtn)K. P?sloial. F40wKial. Inv05triwt and PIT¥acy. Risks have allo io tho hth¥idu81 Go'vemor Commitlees lor at &ieir tenTrty ovrig PiincipA! risks inCde loss'¢il rewtaii¢n leathng lo"• op in pupil nurter5.. Thi$ 1$ tyl1318¢ firsl fo¥8m051 by • broao aTrJ bOnCed crn1M 1¢h dolivers piogress aiid results. The schoot also has strong safegu•r4ln9 edUres..ks to mainlairi a wjsilive proAe in Ihe immunity opeias aft excdlent $14ff perform#nce atj d¢¥eSwiment programme lo mainlain 9h ¢alibse 5iaff. In •ddiDai.' rt Ih¥e$15 in St1 financal lo wlute emwgiTr3 Ir$ èarfy in"iirder lo rbalance Ihe irnpact. of thi"n9in9.pupfl"wmbers.':sO idenlified. •$ o yiicw.risk 15 Ih¢:riSk ol fmndal miBnwTra9èmènt."thth is mlligated by strorrfJ iiktoinal r¢yofs. d4l*led fin1 èudgeb.rvi aNJ iTr(¥JeWng ol W tem ¢ash flow foreea&ts"ai ulèr rlew$ l!y Go¥errJt)rs. Mose recenuy.. VAT on s¢11 fees hgs b8en'athJed to Ihe Risk ManeMen1 Reglster, and h¥$ t4en exensively rofyYellWi."The.Gaw•M$.a1e ¢fy)fthnt Ihat rfsks a ftwMTri6ed ld mainlained:wlhiti
cceplable tolerances..
The 6ovemty4 havè fio finanpat thresl in th• Charfty *i rerAv4¢ fv) [enneral#>I from thg cFkrfly.
Hazelwood School
IA"ChaTltsb!• Edu¢ational.Tru8t Llmlted bY.Guarant>
'Governors' Rèport
for the year ènded 31st"Ju!y 2023
.ICorilinu>
A¢¢ivliles,. A¢1¥81n and Perfoin£
The company fvffils.its tharEt8ble rtlecls by HaZeTr SclK>t4, an ind4)en(leni p.ep Pwp•¥w Schwl.
lor boys ¥niY W.$ 4 tc¢'!3 years hi ShaFirtg wr0EFt1r• for the year 2022.23 aThJ pLiniNJ the 6thoof$ Odivilies..
the Go¥8mW¥ W o%vwe ol the Charity knwiwon'swKJaDc¥ r) wbSc benerrt ¢Joedffl¢nt, :'Public 8enefi
..In thder.lo deliler th8 ¢oot#ble ¢bierlS."th¢ scfv>J ¢ffw$ a"lrriited nurnbgl 01 gr•N.ass191ed.
runtho a charity IP21'.'
'plac•$ afe (i¥ade availa• to loc1 i¥nl" les 05• fanoI F1110$ wwfd OtheNdse them io conswjér..
HazeKvotsJ Schod <ildlchldieri. More&¥tt.'Ihe Schoc4 efflF$ Indwlduats and ¢MS tKildlfjgs 0$e e¥peits8
.8tt47inityJabon andladlths 4..Made aifaifaoto to1 a1xlwnhmtygal1IUikn1s. theretyve4lJ bet:"
.liver mffler ol 2021 the Srto¢l curylel8d •# w•atMs Pa)dld pidi sF<•ts"prfikWI thlJi¢9Tri%l Uth•rit"
Ihe wg¥ision ol in ou¢ glin io'8chè¥e"sixlwvi •xteiferKe. •s as ILI yolde':the thmmuW.wNh a""
ne%Y facllty.-
In January, 2¢f23.. the 13 NACE (Nabal"AsS0¢Wjin EdLKatkn} apj Ts n
one ot a fiou_ ¥hi has iezth•d thls le¥el ol aCltabofi NACE One of rri•ny pts$ crimmeni¥.
'ty Iho 1i!spedoT W35 IIKII 9ff arhl lve kngh"WCiOikihs of Ihèmsefv8s arml oi one aTrJlhw. thal'lheie Is
reten55 diiv¢ tci i)rtynoe eltedbVO l¢amty and ènsure lh• Naz•?orodwpts Bre.Yutur• reaw.
The scjthi w¥$ Sited.fOr.#ft •vor
Hazelwood School
(A Charitable Educational Trust Limited by Guarantee)
Govemors. Report,
for the year ended 31 s't July 2023
(continued)
Actlvltle8. Achlèvethents and P¢rfonnanc• Icontlnued)
Key Perf0mne In¢Jiulor5
Th¢ follwng KPIS are le¥l¢Wy Ihe eoartr.
2023
2022
hl
£7.n7
e6.7gF7
rdn
£6.
£6A21
11D10
Fe• In
6.75%
441
£2,361
£1,6S9
Feel
14tsV
14.77%
R•¥uM¥, Flnan¢lAI Pos0n 4nd Reserve Pollcy
Tho c¥Jn8olbJBted (ne1"ti)Me) lor Ihe y •mowAeO lo £831.190 12022 £WJ2,670). Tho CharfV5 •e
reserves" •s dthed by Ihe Charty CtynTThssion Ilh8t part of a thaFIV.s unfeslrf¢xed Jnd$ Ihot are Ife"ety 8¥&18ble
Io Epend on any ol lh8 ChariV$ purposes bA $xdurSe5 fbxed"èssets ?5 land and buildlng$) of a¥50cialed
bTO9$ arntyjnl to. £1.649.084 12022: £1.810.659). Tho Govemors. pY b 10 appty any suiplus toword¥
.¢nhanon9 the qurtY of•thKalton. the fliltes. and in m8lnt•iiln9 Ihg opeFaliohBI ¢ap•bil¢y of the School
In th¢ ¢¥èni d fluctuztion5 ih #s income. The in the yw dehKNi$traws a pog16ve move ttyrfrds
ii&in9 feserw vknkh has enatrfeo lurther uwosknent in Ihe Sr)>s.8d ils laoTries. A restsv88 poliGy has beeh
8groedwhkh defines a lev•1 of 01 £2O).ow 10 be hdd 39ainsl unh)re$ •v?nl5.
Tho Scmd's vtholty l(•diw bS¥y. The L•rks al LrC(k Limrted. generd a lurnover ol £l.S73.770
(2022,. t1.375.130) ond made a profil beftro gTft doftaiw of £13Q429 (2022'141558}. Th• profil was rted 10
Hol•ts0d Sth. ool Thes•.figA8s are indudeo ) Ih•
Hazelwood.School Governors Report for the-year e"nded.31st-July.:2023.' Slal•rn•nt of C¥OV•inOf•' I1wl11[1l•1 le<)niindi Th$).G0mOf$.•re fesponst4e for keepin9 K•UnIV.lec0F¢iS.81 dlstiti$e wlh reasonabla raty •( •ity time.lhe hianaalFP05itiOn'of the th0ri18trfe- company."ants trie."group and •nable Vi¢m..4ts eiisurè.lhai the.firiarK4al Itaiemeiils rMpty.l1h !h C¢mpaFwe8 Ad.. 2(. 'Th8y'.8r# 8190,'respinsltAet for. safeguarthn9. tha8¥$e1$".QI. Ihe cjiariiatle ojwoany wid tho w¢w"a(Kl heite lor iaking r&i5onatth 6l•ps (of th¢ w•wlion •"nd-del¢C1 of Iraud and olh6r.Irre9ul8ri1s.'1 ln s(> fw.ai Il Gi¥vorrity$ arèaw•rtt ' Ihere t5 rioi4vani 8udit in1th1OI1Klt.kne dlIab"<0p3rrf. we vtt8w•re: ar#J 'Ihé Go¥ernoffj havé iak6n •ll lh8 $teps thal.they ou9ht ic h3¥¢"tskeii'to inok• thwnsélves w¥a-01 any.IeYaril.. 5'oudlt inform•lioci aad to'establish"Ihal Ihe riiat48 vitiwnrf$ 8uLttty$ a(¢ awam o1lhatf031wir 4oore Kirigslori'sinrth LLP hav• ind their to Contin in officè'and in 4raaV.lhé"Prclw19IOns 'ftf",Vie ¢•PanieS A¢¢.. il l$:.Iwsèd Ihai'ihey. be"" re:appoinl•d audrtors4foi.:the enwiri9:.year:subj8d-:io tti•. '.i¢c(+mfflerO8lbn rA théAw*l c[¢0. By ordvof.the Ggwrnors .Vi¢lls Hlll .Llink18ftoki .&i"rrey.liTr18 Oi2U 'Dat•: 6th OKiimliw 2(123.' "k-FlÈld
Independent Auditors. Report to the Members of Hazelwood School OpTnl¢)n We have aurfiled lh• ¥1e9 ol HateN Scl•)ol Ww..PRI comp8on and Is gub¥idiary Ohe 'omup) lor the ye2f ¢•ded J1 th 223 thè Grthtp Statemw ol Fln8ni¥al Acbvities, GrJP Sumrn InCrt) and A(oyJrN. Iho Grwi •nO PateAtt Chit8bl¢ Comp•w 8alBne• Sheel$. the Gr¢up Cash Flow Statement and rths to finanml lo¢lurfing SignifnI $ccovnJrKJ pJfKies. Tl finanrJal iewkng fr¥rnework Ihal has been #P.e weparntion is apOcaNe law and Unhed Kirwdom ountrft9 Stund8rds. indudlrJ Ffls 11rd Tr Fwwial Repyting. &and•rd . Ihe UK and R9"Co1 Ireland. Iuiwlod Gene1•lAC Athing Pffaclic>. Inour oplniw Ihe finand•l seme¥". a Irue •ThJ faif ofthe stét ol Ihe Gr¢>.$ and the Paw4 Ckiiiab Compartys affams a$ •t 31 Jyly 2) gnd ol Group's and a¢011( of Ources, IrKludir¥J fts eypendiltyre. klhe year Ihen ènd¢d.. ha¥e been pr)perfy wepat•d Un41ed Klngdom GwffjrnltyA¢wpled Prnctice.. and h8¥0 beernpi•p•d In •¢tryth1lb Ihe rouiieowls¢fV Conyw05 Ad 20(6 and the Chèri15es Ad B•sl¥ for oplnl¢) We >)nducted w authl ¥1 ilh 1nlema1x• SlandaFds on Audiliry (UK) OSA6PKI) and appU¢l8 law. Ckn fespGm8bi "Ilttes uryder thoso slaTrJafds are lurtlw desuw In the Avdd(¢s Re¥thsibiWW foF Ihe aud ol fin¢saI $latements 110 ofour reptyi. We org indepeThJ8nt of Ihe Palt Cttarttsb Cowny in th Ihe elhT¢ai wequlrenntS a(¢ authl ol the financial atementS lft th• UK. including the FRC'S Ethical Stsndard. 8ThJ we hava fulfil wr Lther dht41 wwNtr414les in V1h Ihe¥e requiThtrné$. We bello¥•that lh¢ •udit e¥knK• we i• sulfleil apyowi to pFthid• a ba$ fffour orAnw?n. ClgI0n fol9 to 9olng¢oMm In atsdilirvj Ihe fA78ntial statemw)ts. we have that Ihg tsu91•es' use of th• goin9 cOnM ba¥1$ of ¥tr4unliw'ln Ihe p¥•hOn of the firwcyaf $tat•rne 1$ approprwh. 8as8d on Ihe vrtrfk we h#¥e krfomd, wo have bw rfknWfied )y materf•l rtIati10 ¥1$ or c4ndiLiens Ihal, Inld81 or tth¢tivety. maycasi doubl Jn Ihe wow's and p¥ent thaAabl• cornpanls •b4ityfo eJ)nlMxre as 0 9C cont fc¢a peiiod ofal le•5t tyfve monlhs troth when the fin•Ktal alerft¢nts ore But?ised for 8?. Cf fesponsiknlties Ind Ihe f•SP(•1OtiIS al the t$1¢1$ 4Mlh respedlo gains ¢oftcem•rd•scAW irt th• ¥anl $e¢h"oni ¢f Ihis part. Olhw lftlorni&t¥on The olher Infomi8tiM lh• in(190 Tr ihe W91 fepthl. II¥M Iho fla1 slatemenls and OUT audilols iewrt Iheteon. The Iiustee$ ate respons1 for Ihe olher inf¢ymation c4ntain¢d wilhirlthe annugl wepth. Our on)ft on the firt8nCYdl statement5 does Th)t cover Ihe olher iAformalTron •nd. excepi to Ihè extethl Olhthise ex1¢11 Stsled In w rep)rt w• t10 Dot express 4ny fqrn ol •$suranc cortdusioTrtlw¢oD. Our rqspon$ility ss tr& F¢od the h•1 knformall and. In so. $1¢( theiher the oth•r 1•mI3¢[0 is malerfally inthinslsi¢nl with Iha finanoal tl¥loW Of our knovledge obialnod in tho course ol Ihe authi or 01MiSe appea to bé maieriawy mi5Staled. If we ttjenlify oyatsrial inc$19nGieS or apparent rnalerfal misstslemenls, we ai¢ requiied lo determi whelher is • Thn81 mis8i•nwii ¥) thè fmnc+al 51atement$ Ihem58l¥es. IT. based s)n lh• we have perfwmo(l. w ¢OlUde Ih81 Ihere is • mateiial this other InfothalK)n. 4Yè •re requtrtrj lo r8ptyt faci We hève tting lo loport rewd. Oplnitsn8 on oihvr mattern pr•s¢flbed by the Ctynpanl¢s A¢1 2006 In ouroJ*rMon. èasedon IheworturKlertaken Ihe c4urne ol Ihèawjl". Iho inloimabon giveft io lh4 straieglc i•port artd the Gover. annu•l wewt lor tho fwci¥l year lor Ihe fiftanci ateMentS3rQpreparld is con$i$lent wilh lh¥ fiftanri81 and Ihe ieporl and Ihe GemS. onnval have been in awO8nce wilh applcaNe le9al reqyirernenli. Pa9e". 6
Independent Auditors, Report,'to the.Members'.of Hazelwood School Ihttgrs •n wNeh wè atè rtquir•d t•npoii bY••Pl. lft Ip3N of Ihe liniythJg¢ urndérstsTriY¥a •f1Tr4"Grwp w¥J Parert Ch"ariiatye.Ci>rryany ar its ènwronmenl. 'otJlainéLI Trn lh• ¢4JJr8• 01 ts"iOL,wt rni.lJ¢ti6fied.ni&i¢rlal I1sIaln8nIs in Iht stralégi¢.iepoit Cr triAl8•5' annual r¢ptirt.. We havè ln9 to rwi in resFect ¢il thg lo1r& th• Ctsiipanies A¢1 2(K6 ar4J tm Ch8rhsAci 2011"require us ie r¢wrtto yw K. in owtylrloff. 'the Parnnl Charilablè ké¢ii4deqte aNJ sufficignt Ka))wthrgiecgJN15. orTrknn• .iw oi¥ havg iiolin rvAived Irr4Th bran¢h•5 ¥ssitwJ ty us., or ihe P•MntChariiabT•¢oiwns ffMricl•l ¥• iiot In yeème14.1 ilh"thg ac¢4u-ntirtsJ i•c¢rfds"aThO." .'(4rf8ln gisciosur•s ol speciw bylaw•1Odtr. or a¥• not(e¢th¢d"41 the'lnforfflakn wF&nabtsns Y•P lor wr R•SpOrbill1ie9 ol GOveri "As explaln8d mm'fvlty Go1$. iQFFWStifths sdryrt on 6,"Ihe Goti ¥E• the tyractoi$ lif,.¢ PArenl.chantsb" CAynwy. rt<'.th•.pu0$¢S o! i%mwy fvl ¥e"iespori$th.fw. Irepaiakn .tr. fih8nrial"staiernerts a'fyJ:for bei9.:$8Usfied Ihat Ilwy:9p48 a Inje and f8W aThJ foT Sh iThtèm81 ¢oritft4 as the GOv•mS (J911 ss rcss¥y efiablo lh• of firtanci¥ staternenls Ihal arè,, .rrw from m8teial misstslennl YAwthwth lo fr8 err¢ir. Irs weparfrwj iliè finanaAI stataww15. GwrrKrfS are respongth for au•s8•)9 tswGroup and S¥ar•ii-Ch•rii•tyb. Company's atslity to conti(w• a5 a CtsM. ¢Jisct6NVJ. as wkcab..IiIlWS'l01a¢e to co1 8TrJ the c4nc4rn basis of ¥<othbro ilia"Govwrm ¢ither intefvj t(> wqitida18.tho.Gf1I w Pa"reit .0)enlab Company or1(+CSe operaknrms." hw• fio r•a4sbc4ltemabve blrt lo-¢Jo $0. Audltorf$ i•sp•n%lt#bt108 f•r th• au¢lll •1 th• Ilri¥ii¢lal 8lai•H•nts Obt ar¢ 19 rnaso+4ble &ssur3Ke aboutthothel $lai8rnrrts as • a free fvom n?atg1?al inisslal?rwiL whèther the lo (Y wr¢y,.arKI Io is5 an Mpyi ih8t IncJdes tyJi opinion: Reasorioble &ssue8rKe ts • lgvel ol a9Jur¥rt nol a warani•B ¢hat sn aud4 coNlucl•i in a(ryrdaw' .wlti ISA8 IUKJ atrd¥s'd•t•d a Inal2& rIsIlent I 81$. I¥$5t8térnenL8 ¢4ib aw from tsaLKI tir i¢Y Énd are"er¢ol malvial il, ln re98t•, tY sonatsty b8.•>FecW io uiftuenM éconaffli¢i#e¢ls¥ills of Y¥ 18keri on ba5L% of ltsse 6rianoal staleTh1$.." .As p1 ofaTravJliri •cur¢e wfjlh ISAS (UK1 ¢xwritytisslortaljWent aJbJ mairtan professMal '5G9PDutsrTr thfoiw Iho alIL Wo alx". Iden6fy orKJ 8Jyess ts riss ol m?teriafrnooteniefii 01 Iha T3[1 $InIS." whdherdu8 to fraud or vryof., ées¥Jth ansj r10Frn awjl to thosè n$. ar¥J auillt ¢e Ihot 1s'$¥ificnl and 8AiIW8te t( prowts a lor tr¥+. Th8 ol Dot dutfj¢brrfJ o matsibal Msl•ll)l r•6vthrg frnisd L% bviber biari V'1rOrn eriy. as fra) may invoivè'ctdn-. loory,, intqntiona1 ony5$nI srwes¢nlaiioD5,'u lh8 0¢ of inlemal contrd. Olilari an,und81siarbduwJ ol lrtttrfial eAWtro! iel8vant iÈi"th•.•¥lil dg$K• atyJlt Ihai"afO apsiwna¢o in ¢yw¢thxylancés, twl r4Jt ol exwesgng an oJxnThi rffi ts effecbveiiess of i Grow ar Parert Ch•ritat4e C¢riyanls irthDal Ev8lv?te the ppriene55 ol 3rKthrntii¥i ¢tsed athj th• wasorrabkn)• ol act¢119 •sIknat aryl relatéd ¢Jlsèlosuffjs nia¢g bji $18•#. Cc(e on the appr¢wialéness ofts bosL4 01 Kthjntirtp wd, bos•5 Jdit OvJer oiJtaln8d."ththe¥ • mat8i41 IAK¢rtatnty lSts to e¥ent$ or c4nditKffjS IN rn•y c#t $idfant &)id)l th• Gp>tp and PaFehi Ctiaritabb s alhlty as a 9D+ng oy•rit..:11 con¢tud8 Ihal a mHl8rial $ts, af rw4viip¢J 10 attenDon fft tsJf al"11y.¥ reijort io the rèlate ddDSUr¢S iri. financial:siakn)eS or..Il'sh dWasurès.8r• wi3de4ta. lo'fTh>lty."our 04ntyin O onctU$iOThS iFe tgsed ¢n the eer• ¢èird to ttie date"¢>l our authorfs w?rt. HoY4evèr. fvlurt v•nts"tr"t4Mditioris may ¥58 Grwp or Pafert Chan"iablo &)Trpany ¢0 oase ic• tyjrttinue as a Ev8lualg ON11 presenlatio of ts finwoai 51atowwt¥. the thscl)surès." ¢.whether.¢ slatoffritsJrgpres¢ni t1 ts4rwtil% •Rnts'.in a inannor that hi•ves f8lf prsèftt8trtir
IndenIent Auditor8::Re"poit to the Mernb'ér8.of
"Ha201wood School
..Oblain su!Ibent.•)wwnaté". OlK4t:•1e.1e9&thr..Ih0"flffta8l tif entibes.iir.liusirffjs$.
'Ktsvibos iwthi lthè'Grwp to expresy.all fitYdn&at $&lnIS. w9'a i¢sponsU•.
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Explan•1[5 •¥ t•wht exient'th• audIt¥ ¢on8lknd c•ybl•"of dèthc¥ng kw•g"ulailllé•. IrKfvdlng fr8ud
liregul8rfdag"..iILilry fr. are InrS oi K(h8nt• h kn aTrJ r•gLIa..w rfgswJA wi)cEthffo5 i
Ouf resp¢115.be5, ¢Illed at)Vè.'t¢ matedal nwlalemems in of iFrylwiiS,'ittduth9
!r8ud." The èxtsbu lo wwor¢durè$ are ¢4pabfe OtdejYegafS.uflg fraa ido!aited Lltr•.
The oty"e¢bv85 01 guf 8ikit hl r•wii of arn: to'ienbty 45sesg the ol mai•tsl 1Th551atement ol th•.
filiaal swemeuts'lj to:fraiwj.."ki sulfi(wi apyc(Jrfalt& a$1 evthAC• lh¢ a5305sed btsks'of"
iiiatwTral misststsm¢Trt thJe"to'frOLKI.'Ihr¢J¥gh.Wnll)g •d appr5# lo¥Se5 WJ th050 a55es2ed.
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Our wproKhwas as Idlx..
Wo w•in8d aft I¥•1513jrfa oi toggl and reqwreffwtls 10 Il (art8bfe c•Nwany
and C5Y¥r8d".1h•i Th¥ist giifft?nl the'Cwwrdos"Aei 211)6,"V" Ctisiwes'AI 2011. ihe Charity
SORP, and UK finanrial raptyting si•Alath"5 I? Fi03rKial RèrKvbTr3
. We'obtained •ri tNerslanth"ng'1?f hiw V"tharitsbl? CY iisB by
wth manageinent8n(J tharg•J wth
. W¢ a53essed.tho'thsk'ol m•teriai tYos8iai•m8nl ol M•riLY?I sla1..1r•j lliè.th ol,rnèle1i
misslalewt lo rfra Atsj W. h(JiwJ di¥c¥ss> tlw"diarged
th govqrnanr•. '
. We lftqulred ol mwgemwt arKI thf¢ ch¥g6d ilh go¥wM. a5 10 Aty kn¢rn'AistafthS of INTrlIp1K•r
$VSFeded Its arttl r•gvlaboi
8ased or li$ bAdets18f+dlr¥. we ¢Jesy)ed speufic apprgyle proc9$ tO'KleriDfy" Instsnc5 01
C4XTWi8nce with law5 reglrf315. Tki$ wdtNJed rrtaPai9 W4¥ries'of Mana91 aNS IIFOW Larged VAlh
gO¥erft and Oblaini cwobtyaivB 8vthnc• •s ffjqUWEd..
' Tror• are inherènt it do$&.0¥4. Wo am ts'laoty to"bectyp• •¥r•"til
IAStsncos.ol (w)n4ompl¥n.bitr.,1s% regutionS thal are Mi c&)apty.rek71ed 10 ¢¥[5 arJ
relected In its finaiicl81 siat6menls. AJs0..t risk ol rnt a makn.al MtAtement tJJ8 lo fraud Is hwJher
ithan Ihe iisk of n91dthrng 079 rpsulbr& frofft as IrAI noy ddit•oiocYreaknnt by. lor.exom,
Hazelwood scho.ol (A Charltablo Educatlonal Tru8t Llmlted by Guaranto0) Consolidated Statement of Financial Activities" (incorporatlng an incorne and expendltura account) For the year ended 31st July 2023 23 Unrestrf¢t•d FuThs 2023 ltsstrlctsd F49nds 2023 Total ' Funds 2022 Total. Fun¢l• In¢om¢ fr4)m: 7A26 77.122 "13,323 Charttable-acbvilies .LT79280 '.7,17fr,260 ,759.67.1 TUrf•r¢I substhy wthrtakw 1.546.936 1.546.936.. 1.375.130 241.642 241.642 164.805 Total In¢th•. 8.975.384 77.122 "'9,052.506 8.312.929 EwndlIU OTh: R4l$ltig knds 73.359 73.359 45,669 C081s01 trathll9 subsidiary 17 1.223.$07 1223.507 1.058.572 Ch8rfla14e #t111t¥ 6.W1.074 2&.973 6.928,047 8.3Cfj.018 Tt)ta• Exp•ndltwe 8.197.940 28.973 8.224,913 7,410.259 Net Incamè 777.444 50.149 827A93 902,670 N8t mov•m•nt In Iu*MIs 777.444 827.593 902,870 Fund bal•n¢es at 1stAu9S1 9.188.379 10s.058 9.293,437. 390.787 Fund bala ¥t 31stJuW 17 9,965.823 155.207 10.12t,030 9.293.437 reL8to lo clVaal¥i.es hi iespKI 01btsih Thefft Ymre no other iecowsed q•ns or&)sse5 firt•nciaT year A$ porrniiied by sect(00 4LB cf ts ¢Pan¢sAC1 Ihe in¢A>Th arKI expertiirfu ol Ihe par•nt Con4>•ny k nct presenled as P3rtof.Ihesè Page: 9
Hazelwood.School (A Cikarltabie Edu¢ational Trust Llniitsd by. Guarantée) Ba!ance.Sheets.at 31st July.2023 2022 GfWP Flxed Assets. 'Tangle auets ..10.412291 .10.4122 ,9.8,324 9.8.324. In$1mTht In TiuiBl¢Jl•ry Lkn"d•ttaT(In9 .11 10.42.291.. 10.'4t2.391_- 9.896,424 ".&rient A•$¢ts ."StcKk. "12 6.310 ,217.210 C•&That bank lTr.h•nd 2.615.233 _74 3.258.735 44.11."188 ¢r¢dltors' thi)o"unl8"lalliriq il '.wlthlThont y•ar. (1'.419.8261. -'{t.843,375} (1.467.057) tldcrirfent A•¥8ts 1.6WL,467. .- 1,944.211. Tolal Asse18 l••• Cur Ll•bilill•s .12,104.858. 12.104.858: '11,840A35' ,1 t.840.$35 ¢i•dltoin: ialtlngdw.. •ft¢i mor4 than on• yoaT (1.983,8281 .(1.983.828) (2.547,(&7) .N¢l $•18 10.121.030. 10.121.030 9,293,438 9,293,'438 A¢¢umulated Fvnds, Unresiircted Furié$'" Gèneral Fund. ResIle F(111 9.970.374 9.970.274 'iSO.758 9.188,37 105,058. 9,188,379 .105,058. 10.121.130 iO,i21,030 9293.437.. . 9293,"437. T14e ol Ciiènty for2023 was £82?,593 OnCFLwJV Gfft frorTr:T!tè Lath8). The finanoal $lalemenis wTre arw¥ed by th¢ Go¥¢miys and {)Se0 for is3 on 6th Dtiember 2023 ¥nd oh tlielr l)fjhairty.' R. Htaloh..... N. Cart&r-P¥gg.. Ci)Aii>aAy Nun*er.' 925581
Hazeliiiood.School .{A' Charitablè Educatlonai Trust Liiiilted'by Guarante•), .Consolidated.Statement"of Cash Flows, For the year endedi31st July..2023: Net Cash trinow fr•m ,.Op•ratlng A¢ll¥itiè8 jnoi• t) f.'495,'368.' Cash Ilo¥iii ffonb'lnvastlfig A¢thTllk$: P4J'rthase ollarytle iyed 488et K•',026.Y291 M•1 c8h pmidéd byqused In) knslkig xtfvli1o¥. 1028'.3291 "Catih n+J4¥S Ir•m Ilnan¢Tn8 a¢iMIiM": C¥sh inft0 nèw b1114 Riipayments 0lboir0 N¢tcash piovided by1(d iiil iIMn¢lfig a¢¥vllles. .f423.ts78> 142J.0781' i4YJ.0781' .'{423,078j ¢haniie lib t48h.and ¢•Bh o1iui¥4teots In the 1>01•9¢rf 494,977 '335.7(6 . 'C•6h4nd ¢•6h È4uhalerits"aitho béWnAthg of Ihg r•poning pwkn"d.. '¢•sh •nd ¢•sh Muivalqnts alth• ond ol the ffpoitifjg-perfod ,2.883.19 .Nol•s ti)th¢ co101[ted Slalèfflèntof Flows For lh• ytaiended Y$1 J 202J': R•¢ON¢1t1O ol NeiiAeom to 14et Casli knflow Irom ¢Jp•F¥iINJ A¢ii¥¥b "Trlot foe the yMr Oepredakft I1$¢YO¢creaS0ln skn .Oeueasèllknrxe•se) ih debtors. af•J pitpayments.. , IOaciea8eWnué89e In uèthtOLS. P$¥$5. .,IOerieaséiJlftuease in less in advar Nel Cash Infto¥li fwoffj Op•iats"i¥J ArJivi15 f19.5141 [89.2241. 274,516, 954.430" 1109,318 .1.495.388 12. :AJthbysls Cash and cash Eqillwl¥ At J1 &dy. ..20 At 1'Augl 2022 CKII al b¥r* 8rLI h h8Ni 2 882 297'.fr- -"3 377 274, 2.•B2.297 .3.377 274
Hazelwood:S¢hool.
IA Charltsblo Educailonal Trus! Llmiled by Gyaranléa)
,Notes.to.the Flnanclal Statemènts
For.,the:year.anded 31st-July.2023
..{Continued)
.'A¢countlno policles
"•} A¢etiyrrtingc¢vnv•nit4XI
.Basl• •f prwratlon
. Thè fifjAil81 $taiernenls ha¥e b&en pwared in arurtlarts Mrflh lh• Financthl ReMITting andarOappffcab18 in Ihe
.UK $nd Rèwbc"of tfeland IFRS 102>. Th• Pareftl Charitsbl¢ Compariy and ds ¥ul)svJièrfè3 are 8 priG benefil
,9row l¢r the purposes ol FRS 102 aj thwelor• the charity also Prepared As fineA(i?I slateriwnti in aiwdan
"with Ihé.Slaleinent of li•commeTrY&1 aFWICstO (arities lire9 IhyraC10 kn'8coirdance w51h'
th• Finand8i Repoitrri9 Ston(1or(l aptiKcablÈ liiii UK and RebI of tr4#r (Th¢ FRS 102 ¢h8rtii¢g SORPI th.
cort1pA 2LTh th ChaftUe$A¢¢ 2011..
,The fiftaKial stgtemenis are.epared in sterfiii9. is uirièrrty ollh• woi-"'Monèiy amoun1&
.In th•w firtr¥ncial swtmgnls are rn•0"1b& r8$1 pound..
'.b) Goln9 ¢oncèin B•>h'
Th¢Go¥"eMors have èsse8sed %¥tielh8rthg-ug• oflhg c4w•m basis is opprow and havtrc4nsidered
.'possibleevènts or ¢tsKIlls thal riwhl (0615tgnificotii dlivtst tyi fv abllyof the 9roup to ¢4nlrnu8 as a g¢in9.
'ti)ncerin-.The Governors h8v¢ ffl#de thi5 ass¢$srnenl for8 period olal lea5tor year frnfftlhe dole ol approwal of
'.Ihe finanoal stalèrnents.. In PaiticJJl¥ts Govemois ha¥e ¢ondered the grout•'s foie¢a$t$ #nd proiectiorss and
'ha¥e iaèn ¥CCiivriI of pre3sufé8 on"irtomé. PariarC¢YnS1rte¢¥tiQn has 9t¥en to the potential inlrtJducl¢oftof
VAT on 5cJtool feu and rts impad èod dèl•leil firi8Thc181 ffi'odèllirig conducled tor,¥ahous scenatI I
wiod of at1088i tV4elve months from tre of appwval
Hazelwood School (A Charilable Educallonal Trust Llmlted by Gu•ranlefy) Notes to the Financlal Statements For the year ended 31st July 2023 {Continued) A¢counlln9 pollcle• l¢ortinYod) •) F998 5neludlffjg d5bur59m•nt tharg Thfrse represenl invty¢eO valuè of 811 ethc8tion41 oThJ sss(tted provlded duiwv Ih? y.•. 8uisarie¥ and Sthoiarghlps prowded by Ihg School are sho¥m s¢parety under 8ursari•$ 4Trd otherfee rem1On$ The Srthool, prOdeS w¢eg. is not regi6twed S)f VAT. M fee5 dwThTed from thtn UK, g) Compo•itlon Fws Dlscthtr1ts" on Cornw¢ fees ts ca¢)Jaled lenrty ¥1 tate$ set annualty by Ihe Govèrfiors byrnf0ffjn¢e 10 rales ol ¥•lum av¥ble kn the S1 and i& ¢hao¢d to Ihe &8temeni olFbw¢tal Acti[16$ w an bgws, h) Allocation ol Expend5tw• All Èxpendtture the ILNing oftha Sthiot i¥ Ir•atadas tharftthoxpendltwe. A prOpan ol adrninislr•tiv• weclwqed lo I1 •t LA¥érock Lith ieffeci manag8frtfft tim•lnc4Jrred ID relation to ttstCWPBny. Lèaslng and hir• purcha ¢ornmilm•nts Assèts hdo undèr finafKO leaw and hlre o)ntrntswe carl•lis•d trntho 8818nce Sheel and ¥r¢ d•ptstsal5 o¥•r Ihelr ¢¥wcied UGeful fi¥. Snlwesl element uflhè rwital oWai)As 15 tharg¢0 Slatement of Finknal AtlNtbes 0r tho perfod ol the teas• on ¥ $trwghl lkne b3$is. RIM1¥ polo under owabng l¢•ses we chwqedm • $lfdgM li l)asis o¥w tho lfya$• tenTb. 1> Con¥odatiort The Stalernent of fwtsrteiol Aesvilies (SOFA) KI BalicE Conld#fe the fbnanc•al slatem•nis rf the Parent Charil•ble C¢V•ly and its subdi¥ry. The assels and li•bnitks ol Ihe subwdspry arè const403& on a lin• ty hne basi% k) CrillcAI atcounling 08tirn•8 and areas of ludgem•nl In preparing ancIal51atèmenI5 it is necess•y io make ?ll0mès. •Slim•s artd •wmpli¢)ns that affecl th• amwnls rec•gnised fihanual The 10knaeffienfs and sllmaiesaretth$ideted by Ihe Governors lo th? mo4 svjnikanl ¢tlecion arnwnts rec4gni$ed in the finala1 sIalentS.. The onnual deweoatlon ¢ha¥g¢ lot woperty. plan1 and equIpfvth 15 s•nsilvrn io<honges in useful •conomi¢ lrfe and residual valyos ol assels. The5• ar• fea$$¢ssed ond èh lrnpainnent rÈvFew is perf0md vtherè The rep8yrnerfpefflvJ¥ lees in #dwance is wbwroied Iht expocted at Ihe schod ¢fthè oludenl& l) Flnan¢l•l In$¢rum•nt• Cash and e•9h eqLlvalents Cash and cash ef¥iVer4s 4KkwJe cash at bank arJ In har w¥1 #hcrtl lerm deposkn wilh • m#turfly date olihr4• months or $. Bask Iln8rt¢1•l Inslrumonl* The cha hold$ basKfinarKlal InrumentS os defined by FRS 102. Financial instrufftents oceTrvablè or pay&ble wilhln one yeai of the reporttrtrjtlate ar[rfe0 8t Iheir at trs•¢It0n prf¢e and Subsequenily al #mortised ¢O$L Pa98: 13
.Hazolwood School (A Cttsrftabh Educatlonai frnst Limlteil by Guarant•o1 Notes to the Financial Statements For the year ended.31st July 2023 {¢ontinued) Inc+yn• ftom Oonation9" Uthr¢•lrici8d Reslrf¢ted Ftsnd•' Tt)tsl 2023 Y•ai to'31 Juty 2WJ 7.528 7,526 77.122 '77.122 84,648 U1¢811¢¢Èd'R&Str1¢I9d F5 Funds Yethr to 31 2022 2022 2C) 13..1ZJ 1J.123 13,323 13,323" In¢omo from Ch4¢lt¥ble activif4 Uty•trict•d Restri¢led Funds Fd# To¢al 2023 Y•arlo31 lY 2Q23 Gross F¢•$ indudin9tls•fv)otsis tha 8ursario8 anrs olherfee r¢ns¥ons Olh•r Pupbf related intom• 7.4M.721 (292,5911 5.150 7.179.280 7,466,.721 (292.5911 5.1XS 7.1.79,280 UnmtrKted Restrlcted Funds Funds Tolal 2022 Year to 31 JY 2022 GfOSS Fee5 di$burseriienls"c*ar914" Bursork$ and olhef lee remissions pupil relo¢ed ihC4lIto 7.1x18.579 P53.458) 4.$50 6 759.671 7,CTh579 (253.4581 4.55G 6.759.671 TwnYJ¥•r fr¢ffl subsldl•ry ortakIng5 Unmtsiclert Re5tr1ct•d Fund> Funds rotal 2023 Yr to 31 July 2023 T¥mo¥erolsubs#50ry .1,548.936 1.$46.936 1".546.936 1.546.938 Ilnr•sit1¢tèd R•stri¢ted Fwd¥ Funds Total 2Q22 Ye•f 10 31 ts1 2022 Tvmover 01subs1ary t.375.130 1,375,130 1.375,"130 1275.130 Pa9e: 14
Hazelwood School (A Charitable Ed¢I10nal Trnst Llmiled by Guarantee) Notes to the Flnancial Statements For the year ended 31st July 2023 {Contlnued) C4h•r In¢om• Unrstrfctod Restrl¢tsd Fund$ Total 2orJ Year l•.31 JY 2023 Rent01 and hlre lees CJRS Fundkng 187.231 187.231 54.411 241.642 .54,411 Uffir¢8trlct•d R¢slrfciod Fufidg Tol01 2022 Y•arto 31 July2022 Rentsl •rtd hlr¢ lee$ CJAS 16tr 1.735 2,722 164.805 1eo,348 1,735 2.7r 164.805 Interest Rec8svabl8 Expendlture on raiging fvndB un1¢1• Rg¥tri¢ Funds Fund• Y•tr Its 31 July 2023 2(+23 A¢fvèrtSin9 and publK4ty co¥1> 73.359 73.359 359 UN•$lrTCted R6strl¢ted Fund> Total 2022 Year to 31 JY 2022 Adve+1iwKJ al pL4[¢aYStS 4s.869 45.669 45.669 ExpMdltur• on¢h¥dt4ble a¢lfvltle$ UmJtrlet•d Restrfctsd Fund8 Funds rotsl 21123 YèartoJl July 2023 Sl•ff cost$ - - admiAstr8ti¥ Educ•itongntJ Fe¢4eation Otsmeslic Eslabllshmenl c415ts Dep(eciabon Compowtiwfeo ths¢LNnl8 oirice $18 Mainl•nance of bu4rf1rt91. $AtimtftipooI Ano ¢qwTront Admini5trntive cost5 Bad debl Bank inleresi & char9•$ Lo$s on DisposBI ol fixed 355•t .GQvÉrftte costs (see t>efTh 3.407.462 I.2.58? 437.180 291,3 283.684 484.138 3.394 168.747 244.019 187236 28200 146mO 3.407.482 1.2(6.589 437.160 291.153 283.084 510,361 3.394 166.747 244.019 187.986 28.21x1 146.620 26.223 750 "14.672 6.gJ7.074 14..672 6,928,047 26.973 Pago= 15
Hazelwood School (A Charllablo Edu¢atl•>nal Tiust Llmltod by Guarantee) Notes to the Financial Statements For the year ended 31 st July 2023 (Continued) Expendltitlo OAch•ritable'a¢Uvili•• l¢ortlnuFd> Vniéslrf¢l•d RestrTeid Fwd$ Fund T+)tsl 2022 Ye•r 37 JI.2022 Staff cosls . l•achNvJ 017.757 1.315,563 357,579 .3.017."7S7 7,31S.563 357,S79 E¢Jucab'tti •nd re¢re4t Esl8bli$hment Depreciabon Cornposilion l¢•.&isc¢Amls u)$ts manieTra'Oylttgs, p)018nd A¢kninlsiraOve (osls. R51aied 8od debl e. 8ank intere51 & ¢harg95 Lo$8 OTr Disposal ol ftheo 858•t Governice $ts (see befuWI 292.180 3T4.812 4MS f44.019 ' 292.180 .394.089 4.68S 144.019 2.664 182,188 24.J56 82.812 19,27? 158.798 24.356 82.812 17.Tf8 6,283.351 17.778 6.,018 22.667 GgV¢rTr4t# cos¢$ UnN$trktod Restrl¢ted Fund• Tolal 2023 Y•ar 14 31 Julw 2023 Authtors. reffluner8bo Avdit fts iUlvAT UthJwllove¥l provi$ior4 Irom wror year Olr 5eMc8 Olhw profes$ional feés 12.828 1348 1.434 758 14.672 12,828 1348) 1.434 758 14,672 il#trict¢d R•8trlGt•d Fund Fd# Toitl 21122 Yeaf to 31 JY 2022 Audllm, ¢emufiw•ts Avdit ifdIrj VAT Lkndeillover) ptOVlSlOA Irorn year Oihw Other fft85ional lee3 12.828 12,82& 1.434 1,674 17.778 1.434 1.674 17,778
Hazelwood School (A Charitable Educatlonal Trust Limlted by Guaranteo) Notes to the Financial Statements For the year ended 31st July 2023 (Continued). M•t In¢om• 2023 2022 This Ls staled afterthar9n9-. ALrtlilors' feMwwRQTr(Yc VAri 08PT•e81ion '"10.40D 510,361 12,225 394.089 Slaff costs {Group) 2fj23 2422 Wag•s •nd srtes Social s•a¥ity CO$1 Other c4MI$ 4.484.122 433.180 607,784 5.525.688 4.o6.581 384.423 5S3.636 5.144.640 No ff munerabon VA8 pold 10 Ihe Goverts in ertherpéiiod •nd Th) expenstswer•reImbw. Charfty 2023 Aelu•l 2022 Actual Th8 average monlhty rnber ofempttrfft5 durin9 lh¢ yea¢ wa Tea¢hing and leamiwJ $ypwl AdtThni8tration. 75 129 125 Group 2023 20 Aclual Thg-avorage monlhly number of employees durlng Iheyèarwas Teachlng and lèam5NJ wpport Admlftistraiwjn ioj 62 1ST 163 Tl nwnber ol employ¥ vknèemolunieits am10 £60.fm in the yvarwAr• as fdl Numb•r of Employees 2023 2022 Remufw¥lion RawvJ• £eo.coi. £70,C•yJ £70.W?- E80.(xo £80.001- £90.(X El10.l- £120.CIXJ É120.fA)1- L130.C(5I Pension contribulrJn¥ mJe htgher pawl efflpbY we £48.77412022: È52.346). Th•r• no terfflinatffj paym•nts(2 £0). management pefsorn•l Key rnanagerneftt personnel inctude th¢ Heail Teather. Oeputy Head and Thi¢¢lor of F#78nte. The tolal enyknye• bertefils linc4udin9 salaries. bonuses. emil0 pensytco$ts and olher benefilsl of the Sth¢<4's key management pevsomw weie £362P2712022". £434".0501. Tr 8uisJr left mid year w• 21R2 and hTr$ sdary lo date ollea¥ing was Indudeo lasl year. Page: 17
Hazelw.ood School ¢A Chafitable Educatlonal Trust'Llmlléd by Guirnnteoj. Notes to tho'Flnan¢ial Statement8 For"tho year elided 31st July 2023 (Contlnuedj 10. FIX¢d Assets 'Group and twpiiy Ffethold Ldand BuNdln91 EquIPrne. ' Fumlluro. and Fitiiny". Asset Mo V•hl¢lgs Po. coll¢11n "_To¢al A1181 Augusi 2022 Transfers 12.302.871 W.850 253.028 .2,491 124 14.881 575.ril 575 731 .15.631.204 8.4 'AddA¥S.9t Cgs¢ 874.9IQ. 124.82é'. 1,026.328 Al J'1gi 3. 13.738.eé1 2¢.S60 16 657.$32 . OeprecS•llon A118t'Au9USt >)22. Charge lorihe ) .1575.338 382.224 2f4.143 8,4). &734.880 slo.1 122A78" .'Al 31stJuty 2023 219.7W2. ' 1059 527 .0.4x1 6245 241 Al 31st Juty 2023 571.ji 10.412 281 .A13141 Juli 2U22 8,727.$33 57&731 9.89B.324 'Al 31 Juty 2023 I r•jwhyb¥dc1rac1V8l •tal wnmibmentsfv) ie8pedofpAwldty wo¢ks lotalkng E31.37412022:. .£1.74fm61- f1 Invtslffl•nt IA Biibgtdl•ryuridert•kkn9 Hazel4 owns ihe enlwe iS$Ld$h cam dThg Ls 81 La¥rock of£1(). Th8 tUmQV4r the year ended 31 July 2023YrdS £I.573.77012027.' £1.375.130) profil Ihe year was £012022: £1¥ &fter a staficosts ond overhead r¢¢harge Irorn MazeC(#3 S¢iiogl LNted of £187.1)JO{22. £175.C#JOl •TrJ a gft Oonall t Hazeh¥thJ LimQ4d vfÉ138,429"1202t. £141.SW. A deÈd olctyenanl is [¢1 appro¥!n9 trarffjforol pror to Scht*)i Nel 8sselsai 31 Juty 2023 wer• £1 1202>. n•t a$sels £1CIl. X123 (koup Ch•rMy 12 sioek 2023 2022 Sundry ¢on5uffiabfes 12. "6.310 Chart 1) Déblo 2023 2022 2&23 20ZZ fee$t$'. "83.283. 7.6S5 126.272 .92,57S 9.13 ..95.983 86.014 80,327 9.136 80.738 25,239 144,964 pl3¥MentS a•d ir¢fAimo 113.338 d,403 279.410 217.210 .197. TM vae ol iae bad debts irfjthled Schc4)I fe•¥ fecÉivaas 2023.. 194,164 P022.. £73,4e61. PA9,18
Hazelwood School {A Char•lable Educational Trust Limlted by Guarant•e) Notes to the Financlal Statements For thè year ended 31st July 2023 (Continued) 'f4 Crodliors: Amounts f4fiiigJg withln <)rt¢ year Charity 2023 2023 2022 eank |+xn Fees in advarK• (nole 18) Tr8t (yeolt AccThMls an¢1 defernd IrM Owed io GrnUpundertan9 423.078 286,e62 284,427 425.659 423.078 420.987 141.161 858,149 423.078 207,312 247,434 423 078 350.187 117,791 578.(K)1 1,41fv.828 1,843,375 1,2C¢.486 I.4677 IS Cr•dltor8: Amounts falllr•thJe afttt nw• one ytar CITrJvbty 2023 2022 2023 2022 Long temktsonk lojn Fee6 in athnc• (note 16) 1.672.454 311.J74 2.095.532 451.$6S 1.672.454 311.374 2.095J32 451.565 1,983.828 2.547m7 1.983.82a 2.547,097 In June 2015. lh• ¥¢hool ogr••d afuttding p• vthh B•¥d•ys B•ok pk10 ffina lh• the B builthng. TNS In¢luded a iemi bjan 01 £4.631m. T¢rn4y fepayments of£141.IY)O mmenced fiom septem 2017 Ih 8 final repaymenl ol £1.249m In Au9USt 2025. The loan 1$ 8eoJred by a fixed over Ihè Sthool's freehcld property and 8 uoss8uaranieg and dthnIU Milh The Lathsat La¥ercKk Limited. The interest rale calatIOn h88 changed lolloving the cowilon ofLIBOR aflei 31st Oecember 202t a1 ned from LieoR ttsiht B8nk ol Enyard Pank Rate rkn a cteth"i adjustm8iK •pv•od is deSigj io apwoxim8le lo wh41 Ihe rate would hav¢ been 11 eontinoed on the prw?ous ba>$. Since Ihe chty. VJffenIr hlteresl hasvari•d b•trw 32293% * Ihe starl 01 fv yt8r and 7.6366%. at Ihe end oflh¢ year. 16 F¢e• lrt Advnee Cornptisili¢>n 058bw¥ement D•posh# Total 2023 Toial 2022 Nei amou5 repayabh.. IA fes¥ Ihan one year iThene to yfjais two io frye yews After five yews 163.3 52.176 112,184 11,053 207.312 72.963 195.409 43.¢>)2 350.18T 158,092 219.104 74.369 20.ny 83.225 31.949 338.416 180.270 518,686 801.752 The Composil#A) Fe•$ r¢paym¢ni per • based annual t51Nis•iioA Spadover Ih? fil• oflh? s¢hen. 11 pu$xfft prematwéty the baLan¢AvKwAd bec8 Mpoyable 01 ihat date. Oi$bur5emert deposits ale fepardble by deducfKon Imm iho final Iwm'¥ W¢es. OiscoiJMS s)n comrosit[ lees afe credited lo ¢heo)mposil¥)n lee •cuunl on 8 mY ba# h> arxordance Iho Acc4wnl¥ p& ¢Sesaabed (n n¢Xg 1. •nd #re levI01ed on Ihe 0nts remainw M) Ihe fomowkng Ihe Ofett terrn's rets. Tht atthe iable is lof lh• ¢harity alone. In adolOn, Ihertr are £79,35012022: £70,8CfjI ol th¥ivsofflent de)ts lld ift La3 subst1•ry whtch afshovm a$ repayablg 4n1•ss th¥tsone year. Pa9e.' 19
Hazelwood School (A Charllable Edue4llonal Trusl Limlted by Guarantee) Notes to the Financial Statements For the year ended 31st July 2023 (Continued) 17 Funds Ypar to 31¥tJuly 2Q23 Exp•ryditurn l Tra1¢8 e8frf•d Forwarth Forw•rd Unr08tri¢aed FiJnd$- Gew81 FWKI Re3tr[c F Innwa150n Sp#¢4 Bw5ary Fi1 Twvanr 9,t88.379 8.975.384 18.193.389) 9.970.374 e6.321 4.ODI 2241 2.385 .110 (10,932) (4,451) 55.389 450 2.241 3.307 89 819 Commurty Fvt Hazeh¥otsJ Pweni$ A8sfthlM 1.672 7S.IXXI {75 15,291 8.224.81 9.293,437 9,1}52. 10.121.130 Resirietsd bJth feprè$wrt Ihe loltyalng. Th IrW)¥o"0ft s9. an anonymw &)nion. to pmvKl8 a hi te¢h ag1 leamin9 The equiomw ement of1$ be dowc4atèd•ver&10 y•aF5 (depenthng On•SS¢l type). The 8w¥ary F4md i$tr• pa¥ents caft ¥¢knty donale Ih8lrdep05it when Ihewchil l¢ave5 the xh¢d foi Il b•iefftolotscl¥tdrert ThhaS beer• relg•¥•d astmwsarles thJring Iho yw. Tho Tanzanla wojed is a long lem initioD¥e v•ith dgnabon$ to Msource5 10 luftd lh• p movino fopards. proIed h¥$ not y•t recoMmed srte CtiNid. Donatth)s to lh• Commvnty Fwid Oess ¢xpense$ reLqted io Ihe Fund) •te to ti)ntribute ttylaFds 9ood wilhiFklhe cal cthmuntri anolhe H8zeWd Paienls Associa rethies ty fuDrtin9 wo%Jed by Ihwn kyihe cosl ofa teh¢uSe. teepee 8rtd inlmatth dS$ploy sueen5 Io lh¢ now pavil•Jn. Y•arto 31 July 2022 8rowJht FoThYard In¢•mo Expendtlu ITran•krd C•rri•d FtThard Unreslrid¢d Funds- Genef4 F1 R¢$liicled F.. Iv110 Space Bursary Fw Tan24nla Mazeknod Community Fund 8.276.185 8.299.01 17.367,592) g.J88,379 77.257 2.501 2241 {10,9361 66.321 4.CQl 1241 2.385 30,110 3.223 13,39LII 18.341) 8.390.767 7,410.2 9,293 437 10 Opqi•liTra L•asÈ Commikneni8 At 31st Ihè Ch•rity trradlolal ¢¥mmiknents under operalmw lèases Grp Chjrfty 2023 2022 2023 2022 OlherAs•ts Oth¢ff Asyls Other As#•l• OtherAgs•ts Amunl¥ due %sllhin one year 66.163 61,LVJ5 66,163 61.095 Amoun18 one lo fi¥¢ years 76.893 97,146 76.WJ 97.14S Arnotmts dut ITr mL¥e Ihan fi¥9 year5 Page.. 20
Hazèlwood'school .'(A.Charltablg Educational Tfust Limited'by Guarantee) Notes to th"e.'Financial'Stateménts For the year.ended'31st:July 2023 (Continued) 19 .P•nalon Scherne AThaTha8ment• .Th•.T•¥eh.. P•MIoiis. '.The Siod partsgpatos ki"th¢ Te8trièis Peiislori S¢eme Cth? TPSI slBff. The Groiip pension, .thaf96 lor the year srdLNYès c(JnlribulM5 payabl8 io lh8 TPS oi £$26202 12022". £473.2151 $rtd #l Ihe yÈar-e( tnil (2022." Eriil) wa$ •cuved In $tel tsf¢0nthhilIs sch0ft.. The TPS 18 on unfunded nwjtrbempfoyer defined benefits scheme gtrd.effl£d by Th•Teach¢rn' P¢nsioti$ 'RegulAtsons 2010 (as amenrft¢S> and,Tho Teachers, pens¥ sclteTh8Regtsr¥lS 201418$ ainendédl. Membe(8 coNrib¥tO Yt8"P8y 8$ you . ba&s with ¢ts)¥'0$ froin rnérnbers and ihe ernpkjyer bgiTha v¢(lit¢d to the '.Eyche4iuer. Relwemenl aiid olher penIN benefits are by wbffG k¥vJ5 po%ryded by Pot&anftt Thè èThpfoyer ciintthtton iale is Stl by Ihe Secrétw tsf State lthirig"scherrie Valuat¥)•rtakeft ty.the .Govemmenl A¢tiiary'$ 0gp•lrrwl.'Th# rec1 a¢tuaiial iiahmlion ihe TPS was wepared 8$ èt 31 Mawcb .2020 andlhe V¥lu•tiOh Rer( th¢cli vras publshed m Oclobr 2LYrJ: Follown9 ihe Mccknud iv¢9enwi its r•mth wopose(I Ihat ththon benefds l>eLw p8yBtle."elviibie mefflbtsis 'ort ceIVe Iheffl •ther th8 r•10• ow.8cy scjwes ky Ihe perK)d l Awil 2015 10 31.M#rch .2021 The 8cluario5 havt assumed th•1 menthrs are Iikety to 1h¢ optim th•1 provtdés Ihèm'vAth th" .greaier ben•fits, •nd prep8ftr¥ ihe'"2W20 valualion have tPie'gfèatèrvalue' bèntifits foryoups of" ,reiév8fi1 ffièffllie¥ 'Thé Yaluabon ¢4nfirined thal the ernployei rnte lor the TPS T4w>vld Incse fFom23.6% Its 28.6% ..l(om.1 April 2024.'Ernployei$ #re f¢qithd pay a schèmeadmi•k).1evyofO.08% a lotal. -8mprOr0)nlrtJYtI1y% r8te of 28.68%. The P•nslon¥ Tr1 . In fine the Goyefflrrieni pènsirffi autooniolmenl require1nI to provlle a workplac pensKn schem< ihe 'schoel has a peTrri scherne for nori iexhlng Staff v4ch" commer0 in May 2014. ThFi Stheme is a defined iniribuboris scheiile matwged by The Ptn5ions T1 ISPS 04Yi Is run as a c¢nlraclval s¢herne. Theaning Ihat ah pefm8nent non teathing staff atsttyr1a.c41Y pul knto ihe scheTThi. 109ardl86s olr01n95. 89 long a$ Ihey". .'are over 18 and l1ftdér•ts ieiienieiil 8ge. They ha?1¢ lh¢ to OPI out. Ttte'Governrnèril minknum c¢rifrknAn fop E.iiWoyees aThJ ErnoYerS iriL¥ea$ed lo a lolal o!trA IrL¥n Ma .2019 (guidance w8$ Employees S% and Efflptoy•is 3%) .Tti8 8¢hoc4 has lak the de¢ig0iI w invea$e the:. mknimum Eli)0Y•r.1b conithrtK)ri 10 4%. Ihereby fedwn9 Ihe on the Enipk)yee lo 4%",.¢lue lo Ihè pofKy .'ol maiching Erripltiyees cortJibuUorts. Thls salisfies thg Gov¢mmerf rewemÈni 8% iri ial, Employer ntributhins can ri510 a rnaxinuin of S% bl Ihe Einwoyee r£nliibtrtes samg.'Emi>kyefs contr5butiori lates .tlli ck)nbnu• io In¢rexe iri tli8 luttxe to at leasl ineel Ih•go¥einment mlnifflum leve[$ for411iOnIrni. In Addition. th• S¢bo& continues to fA)rilritwto Ic"itsffirwLf c4intribu140n personal pen&on arran9ernenls 01. "Olhèr riM.tèact¥n9 atr w¢feffed to remain v4dh the+r own schern? raiiLérth•A jolnin9 the r¢v•.' woertplace pensithi scl¢eme.'There S onty eryfgyeg. orn this 3rr8Nieineni as ihis oJtot! is noi •v811oble ,for tw¥ ernployees."(lhereviw•t In Ilio'pffiw yèsfj: ThÈre Th0d c41bittt(w£ ai the year end," The Group penthr thar9tknr ts yr conknbutic• payab to The TNst ol t75,077120Z2.. '£70.150} personal peftsons 01 £6.$0512022: £10271). At th? Enil 12022.. Énl) was ITh ie&peci olc(#)Irir9. 'This 9iV$ a tolal cornkniied Group pén%orncost lor The feachw8' P•nsFfm. ThePension$ Tru51 arid priv91•. pemons of£7.781(2012." É553.6361 Ena acrjued: Page.. 21
.Hazelwoo.d s.chool (A Charltabla Educational Trust Limiled by Guarant6•1. Notes to the Financial Statements. For the-year ended .31st.July 2023 (Contlnued) .10 Momborrf L¥#blltty Th¢ fiymberof pwmber8 al"31 W 202i"TA$ 1112022..121 aAd Ihe6r In Ihe"e¥• ol-the wnii"In9..'up oflhtr, ¢harty is h"mrfeO,lo £1 per Me0(.. The iyere.no iel•teil."th¥d paty kan$8clw$ k2623. Page.. 22