THE REDDIFORD SCHOOL CHARITABLE TRUST STATEMENT OF ACCOUNTS 31 AUGUST 2024
THE REDDIFORD SCHOOL CHARITABLE TRUST GOVERNORS, OFFICERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 The Govemoi's of the School who served during the year were: Mr A Cairns Mrs C Ojo Mrs L Mercurius-mascoll Mr M Husbands Mrs A Ti'oisi Mi's P Siniih (resigned 19 December 2023) (appointed I Septeinber 2023) The Trustee is Reddiford School Trustee, a company limited by guarantee of which all Governors are directors. The Head JBatt The Bursar J Wallis Address: Reddiford School 38 Cecil Park Pinner Middlesex HA5 SHH Banker Barclays Bank PIC 1250 High Road Whetstone London N20 8PB Auditoi's.. PKW Accountancy Liinited Second Floor I Churoh Square Leighion Buuard Bedfordshire LU7 IAE
THE REDDIFORD SCHOOL CHARITABLE TRUST REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024 The Reddiford School Governors present their Annual Report and audited Accounts for the year ended 31 August 2024 and confirin they comply with the requireinenls of the Charities Act 201 I, the Trust Deed and the Charities SORP (FRS 102). Reference and Administrative informalion The Governors and principal addresses of the Charity are listed on page l. Structure, Cov¢rnan¢e and Management Governin Docunient The Reddifoi'd School Charitable Trusl was founded by Trust Deed in 1973. The School is a I'egist¢red charity, nuinber 312641. anisalional Mana einent TFLe Govemor5 detennine the genei'al policy of the School. The day to day Jnanageinent of the School is delegated lo the Head and the Bursar. erations Polic The School's policy is to attain the highest academic levels whilst allowing pupils to benefii froin the exti'a curriculuin prograinnie. It aiins to develop other interests and prepare Ihein foi. the senior school of their own and their parents, choice. Risk Mana ement The Board continue to keep ihe School's activities under review, particularly with Inajoi. risks ihat Inay arise froin time to liine. The Inajor risks identified by this process have been Initigated to an acceptable level by internal control systeins, insurance cover and other factors as appropi'iale. Governoi, Recruittnent and Trainin The goveiming body when recruiting new Trustees takes into account of the attributes that they will bring. Whei'o possible the Governors as a body will have experience in legal, accountancy and education. Governors are recruited in line with the School's Recruitinent and Selection Policy. Object, Aims, Objectives and Activities In settiiig our objectives and planning our activities. our Governors have given careful consideration to the Charity Coininission's gene121 guidance on public kn¢fit and in particular to its suppleinentaiy publtc benefit guidance on advancing educ(Ilion and on fee charging. Charitable Ob'ect The object is set out in the Trust Deed. To advance education of the public and in connection therewitl) to maintain support, expand and develop the School financially and otherwise by such means as are charitable, so as to provide a sound Christian education for children residing in Pinner and the neighboiirhood. Aiins arkd Intended lin act Reddifoi-d School ainis to develop the whole child. not just securing academic foundations but also in the varied qiialitie5 needed in a deinanding inodern society. This is achieved by providing a bi'oad and balanced cutTiculuin. The Christian ethos encourages fellowship beiween all cultures and religions. Self discipline, tolerance and care for their fellow men are also an essential part of the ciirriculum.
THE REDDIFORD SCHOOL CHARITABLE TRusr REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) Ob ective5 for the This yeai. the focus has been on the continued achievement of academic perfonnance so that pupils can move into schoc)Is of their choice. ear Sli7te ies to Achieve the Years Ob"ectives These included continuing to review the Schools acadeinic syllabus in order to bench mark acadeinic standai'ds against external public examinations and being balanced by a Strong ¢mpliasis on sporting and social skills. Princi al Activities of the Year The Chai'ity principally provides ediication in Pinner to boys and girls fiDm the ages of 3-11. Revieiv of Achievements and Performance of the Year The school year resuined in September 2023 rcady to celebrate the I l O year anniversary. A chut'ch service was held at St Albans Chui'ch, North Harrow to celebi'ate with current and past pupils. The PTA foi'ined a new coininittee in Septeinber and organised Inany events for the pupils includiiig pizza lunches, Inovie nights, London Mini-maralhon, Comedy Night, Suinmer Fair and Christinas fail.. Pupils took part in sporting activities (winning the boys inter school Cross Coiinlry Chainpionships). Imailis compelilioi)s, whcre w¢ achieved our best ever resulls with 9 IlJ/o achieving bronze, 5ilvei' or gold awards and Christtnas and Spring Term concerts. Prep and Pre-Prep pupils were above lo celebi'ate their achievements at Speech Day with guest speakei. Mr David Simonds MP. Year 6 reimeinbered their Reddiford journey at the Leavers Asseinbly and had fuii at the 'leavers disco, aftei. th¢ enjoyiment of theii. PGL residential trip. Year 5 also went on a I'esid¢nlial trip to France which was a gi'eat success, we hope lo create Inoi'e Inemories by running the trip again in 2025. We continued with our inarkelinby strategy, diversifying oiir publicity to online and social Inedia wilh an excellent hit l'ate. Oui. nuinbers picked up fi'oin East¢r and we ended the year on 264 pupils. We have developed relRtionships with local nursei'ies to iinpi'ove our reception transfers. This IIJS proved to be a valuable link. We iinproved our offer by continuing to offer a holiday club for Early Yeai's and Pir-Prep with an excellent uptake. Our strategy to explor¢ Ihe use of technology wa5 implem¢nted with the use of ISAMS, iFinance, TiinesTable Rock Slai's, Evidence Me, l.anguage Angels. Salchel, Twinkl and Discovery Education. We will be looking to Inove lo SharePoittt in 2024-35 to iinpi'ove acce5sibilily to technology and create financial savings by Inoving stoi'age fully inlo Ihc cloud. Eai'ly Years pupils all reached expected levels of achievement iii the EYFS with Inany working at the 'exceeding' level. All pupils in the Lower scliool gained new skills and achieVMents. Prep pupils were well prepared to tackle Ihe challenge5 of the new academic year eitlier at Reddiford or their secondary destinations. We Contiiiue to build on our success of helping to place our pupils in prestigious indepeiiden¢ senioi. schools and local gi'ammar schools with 24 scholarships offered. R¢ddiford School attending cominunity events such as laying a wreath for Reineinbi'ance Sunday. sintying foi- local elderly residents, local hospiials and Visiting a local cal'e hoine. Our cliarity collection5 througlioilt the year wei'e focussed on local charities suggested by the School Couiicil such as our local food bank, St Luke's Hospice as well as national and international organisations such as: Macinillan Cancer, Anthony Nolan Trust and Water Aid. In tolal we i-aised ovei. £7,000,
THE REDDIFORD SCHOOL CHARITABLE TRUST REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2024 {Conlinued) Financial Results for the Year and Reserve Policy The ftnancial results are set oul on page 9. These reflect a satisfactory year of further consolidation. The Ti'u5tees regulai'ly review the finances. budgets and expenditure against budget together with tennly cash flow analysis. The reserves represent the substantial ainount of investsnent that has been put into the school buildings. The Trustees re.serve policy is to hold enough funds lo Ineet the day to day operation of I'unning the School and to have enough funds to maintain th¢ buildings in a good standard of repair. The sui'plus for the yeai. amounted to £223,700 (2023 defIcit £162,555). Total Unrestrtcted funds ainount to £4.954,053 (2023 £4,730,353). Investinent Polic and Ob'ectives Suiplus fund5 when available are invested wilh the objectives of Inaintaining Income whilst continuing to preserve the real valve of the funds. FiiiAiieial Results for the Year and Reserve Policy (continued) Plans for future riods The School Development Plan is under review. The key objectives wiihin the Cur nt plan are: To Inainlain the present low pupil I teacher ratio, which we believe gives the pupils the necessary tiine foi. developing both academic and wider skills. 2. To inainlain the school roll in accordance with our strategy. 3. To coiilinue to review the acadeTlliC syllabus. 4. To maintain current high stsndards of acadeJnic achieveinent as measured by exteimal publi exaininalions. 5. To balance acadeinic achievement through Inaintaining a curriculuin allowing full scope for the development of sporting and social as well as acadeinic skills. To widen access to the school still rther through the provision of means tesled buTsaries, hardship grants and scholarships. To continiie to build local links with local senior schools and nurseries. 8. To continue to be r¢cominended by word of Inouih and Irpulalion as a school of choice for ¢0 ed education of 3-1 l year old children. To proinote Reddiford School within the coininunity in line with oui. aiins and objectives. Accounting and Reporting Responsibili¢ie$ Tlie purpose of this stateinent is to distinguish the Trustee's re5ponsibilitie5 for the accounts froin those of the auditoi's as stated in their report. The Charities Act 201 I requires the Trustee lo prepare accounts for each financial year which gyives a trlie and fair view of the chai'ity's financial activities during thc year and of its financial position at the end of the year. In preparing the accounts the Trustee should follow best practice and: Select suitable accounting policies and apply thein consistently; Make jiidgements and estimates that are reasonable and prudent. Follow ihe recomimendations of the Charity Coinmission and of the accounting profession with r¢gard to fom and content of the accounts. or to disc105e and explain any departiires therefroin; and Prepare the accounts on the goÈng concern basis unless it is inappropriate to assuine that the charity will be able to continue to meet its objects.
THE REDDIFORD SCHOOL CHARITABLE TRUST REPORT OF THE TRUSTEE roR THE YEAR ENDED 31 AUGUST 2024 (Continued) The Trustee is responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the finai)cial position of the charity al any lllne. and to enable the Ti'ustee to ensure that tlie accounts coinply with the disclosure regulations. The Trustee is also responsible for safeguarding the Charity's assets, and hence for takin reasonable steps for the prevention and detection of effoT, fraud and othei. irreglilarities. Approved by the listee on . 2025 and signed on its behalf by: A Caii'ns- Chairman
THE REI DDIFORD SCHOOL CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE OF THE RE.DDifoRD SCHOOL CHARITABLE TRUST Opiiiion We have audited the fmancial stateinents of The Reddiford School Charitable Tiust for the year ended 31 August 2024 which coinprise the Statement of Financial Activities, the Balance Sheet. Ihe Cash Flow Stateinent and notes to the financial slal¢inents, including a summary of significant accounting policies. The financial reporting framework that lias been applied in their preparation is applicable law and United Kingdoin Accounting Standards. including Financial Repoiting Standard 102 Thc Finaiiciol Repoi'ling Siandai'd applicable ihe UK and Repiiblic of Ji'elaFJd (United Kingdoin Gene1711y Accepted Accounting Practice). In our opinion the fjnancial ststements: give a true and fair view of the state of the charity's atTairs as at 31 August 2024 and of its incoming resources and application of resources for the yeai. then ended. liave been properly pr¢pared in accordance with United Kingdoin Generally Accepted Accounting Practice. and have been piepai'ed in accordance with the requirelnenis of the Chai'ities Act 2011. BASIS for opiiiion We conducted our audit in accordance wilh Internaiional Standards on Aiiditing (UK) (ISAS (UK)) and applicable law, Out. rcsponsibilities under those slandai'ds are fuilher described in the Auditor's responsibilities for the audit of the financial slatcinents section of our i'eport. We are independeiit of the charity in a¢¢ordance with the ethical reqiiii'einents that are relevant to our audit of the financial statenients in ihe UK, including the FRC'S Ethical Standai'd, and we have fulfilled our other ethical responsibilities in accordance witli these r¢quii'ein¢n¢s, We believe that the audit evidence we have obtained is sufTicient and appropriate to provide a basis for OLir opinion. Concluslons relatlng to golng concern We have nothing to report in respect of the following Inatters in relation to which the ISAS (UK) reqiiire us to report to you where., The triistee's use of the going concern basis of accounting in preparation of the financial statein¢nts is not appropriate; or The trustee has not disclosed in the finai)cial 51aleinents any identified inaterial uncertaiIilies that Inay cast significant doubt about the Charity's ability to continue to adopi the going concern basis of accounting for a period of at least twelve months from the date when the financial stateinents are authoi-ised for issue.
THI REDDIFORD SCHOOL CHARITABLE TRUST INDEPENDENT AUDITORS. REPORT TO THE TRUSTEE OF THE REDDIFORD SCHOOL CHARITABLE TRUST (cont.} Other Information The trustee is responsible for the other Ènfonnation. The other infonnation colnprises the information included in the trustee's annual I'eport, otlier than the financial Statements and our auditor's report thereon. Our opinion on the financial statements does nol covcr the other infomiation and, except to the extent otherwise explicitly stated in our repoit. we do not express any forin of assurance conclusion thereon. In connection with our audit of the finaiicial statements our responsibility 15 to read the othei. infotThaiion and, in doing so, consider whether the other information is materially inconsistent with the financial statements oi. our knowledge obtained in the audit or otherwise appeal's to be materially misstated. If we identify such material inconsistencies oi. 8ppai.ent Inatei'ial Inisslateinenls, we are required to determine wlieiher there is a inatei'ial Inisstateinent in the financial stateinents or a malei'ial misslal¢inent of the other infonn8tion. If, based on the work we have perfoi'ined, we conclude that there is a inat¢rial misstateinenl of this other infom)alion, we are requid to report that fact. We have nothing to report in this regard. Matters on which we are requlred to report by exception We have nothing lo report in respect of the following ihatters in relaiion to which the Charities Act 201 I requires 11$ to repoi't lo you if, in our opinion: the inforination given in the financial slal¢inenls is inconsistent in any Inaterial respect wilh the trustee ieport. oi. sufficient accounting records have not been kept; or the financial slalements are not in agreeinent with the accounting records; or we have not received all the inforIiiation and explanations we require for our audit. Responsibilities of the Irust¢e As explained more fully in the Triislee's Responsibilities Slateinent set out on page 4, the triistee is responsible foi. thc pi'eparalion of fiiiancial statemgnts which give a true and fair view, and for such intei'E]al control a5 the trustee detennine is n¢Lessaiy to eriabl¢ the pi'eparation of fmancial statements that are fi'e¢ from Inaterial inisslaleinent, whether due to fraud or eOr. In pi'eparing the fmancial stateinents, the trustee 15 responsible for assessing the charity's ability to continue as a going concei'n, disclosing. as applicable, matte13 relating to going concern and using the goin&v coiicern basis of accounting unless the trustee either intend to liqiiidate the cliarity or to cease operntions, or have no realistic altei'native but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditors under section 154 of the Charities Act 2011 and i'epoit in accordance willi regulations made under this Act.
THE REDDIFORD SCHOOL CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE OF THE REDDIFORD SCHOOL CHARITABLE TRUST (conl.) Our objectives are to obtain reasonable assurance about whether the financial stateinenls as a whole are free froin material misstateinent, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISA5 (UK) will always delect a Inaterial misstateinenl when it exists. Misslatements can arise froin fraud or ei-roi. and are considered Inalerial if, individually or in the aggregate. they could reasonably be expected to influence the econoinic decisions of users taken on the basis of these financial stateinents. A further description of our responsibilities for ihe audit of the financial statements is located on the Financial Repoi'ting Council's website at.. Iviviv.Irc.oi'(F uklaudilorsres onsibililies. This description fomjs part of our auditor's report. This report is made solely to the charity's trustee, as a body, in accordance with regulations of the Charities Act 2011. Oiir audit woi'k had been undertaken so that we Inight slate to the charity's trustee those matters we are I'equired to slate to thein in an auditor's report and for no other purpose. To the fullest exteni pennilled by law, we do not accept oi. assiiine responsibility to anyone other than the charity and the charity's trustee as a body, for our audit work, for this report, or for the opinions we have fonned. PKW Accountancy Liii)ited Charter¢d Accountant and Statutory Auditor Second Flooi. I Chui'ch Square Leighton Buzzard Bedfordsliii'e LU7 IAE 2025 PKW Accountancy is eligible to act as an auditor in temis of section 1212 of the Companies Act 2006.
THE REDDIFORD SCHOOL CHARITAIILE TRUST STATEMINT OF FINANCIAL ACTIVITIES roR THE YEAR ENDED 31 AUGUST 2024 Restated 2023 2024 Notes Unrestricted Funds Unresti'icted Funds INCOME IncoFni17g i.es0111'cesfp'oni chai'ilable aclwilies School Fees Incoinefi'opii oihei. ti'uding aciivilies Registration fees and other income 3,274,628 3,094,863 10,528 14,838 Investinent income Oihei. Èncoine - NEG grant 34,030 133,060 10.239 110.331 Total incoming resources 3,452,246 3,230,271 I XPENDITURC Eipendiliii'e on Chai'ilable Aciivilies Teaching costs Welfare costs Premises costs Support costs 2,272,877 22,942 392,562 540,165 2,332,475 22,531 319,713 718,107 Total expenditure 3,228,546 3,392,826 Net income 223,700 (162,555) Total funds bi'ought forward 4,730,353 4,892,908 Tolal Funds carried forward 4,954,053 4,730.353 Th¢ statement of financial activities includes all gains and losses recognised in the year. All incoiJ)e and expenditure derive fi'oin continuing aclivities. The notes on pages 12 to 19 forni part of these accounts.
THE REDDIFORD SCHOOL CHARITABLE TRUST BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Notes Fixed Assets 'rangible fixed assets: School biiildings and equipin¢nt 3,869,379 3,923,719 Current Assets Stock Debtors aiid prepayinents Cash al bank 17,745 867,260 1,460,963 25,694 70,895 1,219,243 2,345,968 ,315,832 6,215?47 5,239,551 Creditors: amounts due Ivithin one year (1,029,288) (249,052) Total assets le55 current liabilities 5,186,059 4,990,499 Creditors: amounts due after one year (232,006) (260,146) TotRI net assets 4,954,053 4,730,353 Unrcstricted Funijs Resei'ves 10 4,954,053 4,730,353 Total Funds 4,954,053 4,730,353 The fiiiancial statements were approved by the trustee on 2025 and signed on its behalf by A Cairns Chairman The notes on pages 12 to 19 fonn part of the5¢ finaiicial statements. 10
THE REI DDIFORD SCHOOL CHARITABLE TRUST STA TEMENT OF CASH FLOWS FOR THE YFAR ENDED 31 AUGUST 2024 2024 2023 Not Net cash iised in operating activities 13 234,592 (95,308) Cash flows froin investing activities Interest and dividends Pui'chase of tangible fixed assets Sale of taiigÉble assets 34,030 {26,902) 10,239 (8,43 l) Net cash provided by (used in) investing activities 7,128 1,808 Charges in cash & cash equivalcnts in the year 241,720 (93,500) Cash and cash ¢quiv&lents brought forward 1,219,243 1,312,743 Cash and cash equivalents caffied forward 1,460,963 ,219,243
THE RF.DDIFORD SCHOOL CHARITABLE TRusr NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies a) Basis ofoccounting The charity Constitutes a public benefit as defined by FRS I02. The financial statetnents have been prepared in accordance with Éhe Statement of Recoinmended Pi'actice: Accounting and Reporting by Charities preparing their accounts in accoi'dance with the Financial Reporting Standard applicable in the UK and Republic of Irelai)d (FRS 102) issu¢d oil 16 July 2014 and the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) nd the Charities Act 201 l and Generdlly Accepi¢d Practice as it applied from l January 2015. The fEnarEcial stateinents have been prepared to give a 'true and fair. view and have departed froin the Charities (Accounts and Reports) Regulations 2008 only to ihe extent required io provide a 'true and fair view. This depat1ure has ii)volved following the Accounting and Reportin8 by Cl)arities'. Statement of Recojnineiided Pi'acli¢¢ applicable to chariti¢s pi'epai'ing their accounls in accordance with the Financial Repoi'ting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Stateinent of Recoinin¢nded Practice effective from l April 2005 which has since been withdi'awii. lkne pi'escntation currency of the Financial Statements is the pound sterling (£) and the Financial Statements are I'ounded to the nearcsl £, b) Tangible Fixed Assets 'rangible fixed assets are stated at cost less depreciation. Depreciation is pi'ovided on all iangible fixed assets relained for use by the School, other than fi'eehold land, at rates and bases calculated to write off ihe cost l¢ss estimated I'esidual value of each asset ovei. its expecled useful life, as follows: Furniture and equipment Freehold property Motoi. vehicle 25 % on Teducing balance 2Q/o on cost pei- annuin 250/0 on cost per awlum c) F¢¢5 and othei. income All incoining resources are included in the statement of financial activilies when the charity is entitled to and will probably I'eceive them. Fees consist of charges billed for the School Year ending J l August. less bui'sai'ies and allowatjces. If any income 15 received that relates to the ncxt academic year thon it is deferred to that year. Grai)ts where entitlement is not conditional on the delivery of a specific performance by the Charity al'e I'ecognised when the chai-ity becoines unconditioilally entitled to th¢ grant. d) Exp¢iiditure Expenditiiir is recDgi)ised on an accrual basis as a liability is incurred. Expenditure is suinmarised under functional headings either on a dii'ect cost basis or for overhead costs apportioned according to tiine spent. The irrecoverable elcinent of V AT is included with th¢ itein of expense to which it relates. e) Teaching costs Supplies of gaiTLe5 equipment, books, stationery and sundry inaterials are written off to General Revenue account a5 soon a5 the expenditure procuring thein is incurred. 12
THE REDDIFORD SCHOOL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) Pension Scheine5 The charity contributes to the Teachers, Pension Deftned Benefits Scheine at rates set by the Scheme Actuaiy and advised to the Board by th¢ Scheine Administraior. The scheme is a Inulti einployer pension sclieme and it is not possible to identify the ass¢ls and liabilities of thc scheme which are am'ibutable to the school. In accordance with FRS17 thei-efore, the scheme is accounted for as defined contribution scheine. The charity also contributes to a coinpany pension scheme for non-teaching staff in line with auioinatic enrolnient th(It caine into effect frotn l Oclob¢r 2014. Governanee Costs These coinpi'ise the cost5 of running the chai'ity. incliiding strategic planning for ils futuie development, external audit, aiiy legal advice for the Govemors and all cosls of coinplying with conslitiitional and statiitory requiitments. h) Opei'atiIig leases Rentals payable under op¢rating leases are charged in the SOFA on a straight line basis ovei. the lease tenn. i) Stock Stock is valued at the lower of cost and net realisalion value. j) Going Coiieern The accounts have been prepared on a going concern basis, no material uncertainties that Inay cause significant doubt about the ability of the charity to continue as a going concem have been idenlified by tlle Irustee. k) Debtors Ti'ade and other debtoi's are recognised al the settlejnent ainount due after any trdde discouiit offered. Repayinents al'e valued al th¢ ainount prepaid nel of any trade discounts offered. l) Creditors and Provislons Ci'edilors and provisions are recognised where the charity has a present obligation resulting from a past eveiit that will probably I'esull in the Ii'ansfer of funds to a third party aiid the amoiint due to settle the obligation can be Ineasui'ed oi. e5tiinaled reliably. Creditors and provisions are norinally recognised at Iheir settleinent aiiiount after allowing foi. any trade discounts due, In) Fiiiancial Invcstments lThe Cliarity only has financial assets and financial liabilities of a kind that qualify a5 basi¢ financial instruinents. Basic rinanci&l instruinents are initially recognised ai transaction value and subsequently nieasured at their settleiiient value. n) TaxAtlon The Reddifoi'd School Charitable Trust is a charity within the meaning of Paragraph I schedule 6 of the finance Act 201 O. Accordingly it j5 Potentially exempt froin taxation in i'espect of incoiiie or capital gains within categories covej'ed by Chapier 3 of Part I l of the Corporation Tax Act 2010 or section 256 of the laKation of Chai'geable Gains Act 1992 lo the extent that such income or gains are applied exclusively lo charitable purposes. 13
THE REDDIFORD SCHOOL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) o) Judgements and Key Sources of Estimation Uncerlainty The statement of Accounts contains estÉmated figures that are based on assumptions made by the Charity about th¢ future or Ihal are otherwise uncertain. Estiinates are made taking into account historic experience, cutTent trends and other Yelcvant factors. However, because balances cannot be deterinined with cerlainty actual results could be differeiii from the assuinptions and estiinates. The items in the Charity's Balance Sheet as at the 31 August 2024 for which there is 8 risk of adjustiiienl in the following financial year are: Depreciation of Property, Equipment and Vehicle Assets which are depreciated based on their estiimated useful lives. Registration Fees and Other Income 2024 2023 Registration fees Sundry Incoine- other Refeiences charges Insuranc¢ 5,200 7,600 471 3.500 3,267 1,750 3,578 10,528 14,838 3. Trustee And Other Key Management Personnel Remuneration and Expenses The Charity consider5 Its Key Management Personi)el comprises its Governors, Head Teacher and Bursar and therefore the total amount of einployee benefits re¢eived by Key Manageinent Personnel is £263,208, No reinuneration was paid to any Governor or the Trustee in the year but they had the following expenses. 2024 2023 Sundries 146 222 14
THE REDDIFORD SCHOOL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) 4. Staff Costs 2024 2023 Wages and salaries Social 5ecui.ity costs Pension contributions Olhor costs 1,958,600 205,143 333,686 79,442 2,126,182 228,575 325,186 54,923 2.576,871 2,734,866 The average nuinber of employees in the year was.. Teaching Full tiine - Part tim¢ 34 14 36 14 Welfare Doinestic Adininistration The following nuinber of employees exceeded £60,000 einolunienls and their retireinent benefits are accriiing under Defined Benefit Scheimes (Money-Purchase Schein¢s- none) £60,000 - £70,000 £70,000 - £80,000 £120,000- £130.000 £130.000 - £140,000 Expenditure Analysis of total resour¢e5 expended Restated Total Staff Costs Governaiice Costs 2023 Othei. Depreciation Tot81 2023 2023 2023 2024 2023 Teaching costs Welfare Preini5es Support costs 2,129,621 22,942 105,564 318,744 10,759 32,497 2,272,877 2,332,475 22,942 22,531 392,562 319,713 540,165 718,107 238,253 214,315 48,745 7,106 2,576.871 7,106 563,327 81.242 3,228,546 3,292,826 Governance Costs 2024 2023 Audit fee Governors expenses 6,960 146 6,835 222 7,106 7,057 15
THE REDDIFORD SCHOOL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THI YEAR ENDED 3 1 AUGUST 2024 (continued) 5. Expenditure (continlled) Restated 2023 Other Costs 2024 Teaching siipplies Redundancy payinents ICT Costs Repair5 and Maintenance Heat, Light and Waier Cleaning Telephones Rates and Council Tax Minibus Printii)g, postage, stationery and rental equipment Insurance Legal and Professional Mai'k¢ling and Website costs Bank Chaiges Loan Intei'est Miscellaneous Outside Activities 3843 31,651 108,490 75,229 44,621 29,473 54,380 12,858 29,524 5,306 34,067 28,236 18,892 25,898 5,280 8,888 17,815 39,896 73,390 62,421 55,247 68,089 13,261 35,585 3,650 37,379 33,877 17,Y15 26,565 7,698 9,469 19,165 61,073 563,327 570,504 Tajigible Flxed Assets Freehold Fittiiigs Property and and Improvements Equipment Motor Veliicles Total Cost I September 2023 AdditLOIIS Disposols 4,739,353 816,424 26,902 56,687 5,612,464 26,902 31 August 2024 4,739,353 843,326 56,687 5,639,360 Depi-eciation I Septeinber 2023 Charge for the year Disposals 886,213 56,872 745,845 24,370 56.687 1,688,745 81,242 31 August 2024 943,085 770,215 50,687 1,769,987 Net Book Values 31 August 2024 3,796,268 73,111 3,869,379 31 August 2023 3.853,140 70,579 3,923,719 16
THE REDDIFORD SCHOOL CHARITABLE TRUST NOTES TO THE ACCOUNTS OR THE YEAR ENDID 31 AUGUST 2024 (continued) Debtors 2024 2023 Fees Prepayments Other debtors 838,171 29,089 41,656 28,989 250 867,260 70,895 8. Ci'editors: due ivithin one year 2024 2023 Ti'ade creditors Bank loan Other laxes and social security Accruals and deferred income Other creditors 22,818 23,000 4,177 23,000 53,158 162,166 6,551 983,429 41 ,019,288 249,052 The bank loan is secured by legal charges over 58 Marsh Road and 991101 Marsh Road. Deferi'ed incoine included in the above figure is a5 follows: 2024 2023 Brought forward Advan¢e fees Released 150,582 973,298 (150,582) 147,887 150,582 (147,887) 973,298 150,582 9. Creditors due after one ye2r 2024 2023 Final Temi Deposits Bank loan iii,000 121,006 126,000 134,146 232,006 260,146 The Inaturity of the bank loan is gi'eater than five years. 17
THE REDDIFORD SCHOOL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) 10. Geiieral Reserve 2024 2023 Brought forward Surplus {D¢ficit) foi. Ihe year 4,730.353 223,700 4,892,908 (l62,555) Balance carried forwai-d 4,954,053 4.730.353 All the funds resei'ves to unrestricted funds. 11. Pension Schemes The Scliool participates in a Inulti einployer pension s¢hein¢. the Govemments, Teachers Pension Defined Benefits Scheme, for its teacl)ing staff. The pension liability is the re5pon5ibility of the Teachers Pension. As a resuli it is not possible to identify the assets and liabilities of the scheine which are attribiilable io the School. The Chai'ity also contributes to a coinpany pension scheme for non-teaching staff in line with aulo eni'olment that caine into place on tlie l October 2014. Entrants are offered 50/0 for both einployce and employei. contributions. 12. Coiitracts and commitmenls At the y¢ar end the charity had Capital cominitsiienls conlracted for but not provided in Ih¢se Financial Statements of £nil (2023: nil). 13. Recoiiciliation of iiet movement iii funds lo net cash floiv from operating activitie5 2024 2023 Net moveinent in funds Add back depreciation DedLtct intei'est incoine shown in investing activities D¢creasel(inci'ease) in stock Decreasel(inci'ea5e) in debtors Inci'ease/(decrease) in credilors 223,700 81,242 (34,030) 7,949 (796J65) 752,096 (162,555) 80,399 (10,239) (4,8?8) (17,328) 19,243 Nel cash used in operating activities 234,592 (95,308) 14. Related Parties Thei'e have been no related party transactions that require disclosure in this period. 18
THE REDDIFORD SCHOOL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) IS. Leases The total future Ininimum lease payinenls under non-cancellable leases are payable as follows:_ ui Inent 2024 2023 Within one year After one year but within five years 13,763 27,525 13,763 41,288 16. Reststed prior year figures The expendittire for 2023 has been reslaled between categories to reflect a more accurate position that coinpares witli the 2024 position. £71.109 was moved from teaching costs to support costs. 19