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2024-08-31-accounts

SARUM HALL SCHOOL ANNUAL REPORT 2024

2024

4

CONTENTS

Foreword

Report of the Governors

6

Charitable Object

Aims

Achievements Leavers Destinations Objectives for the Year and Future Plans Public Benefit and Community Engagement

Governance Structure

12

Governors

Structure, Governance and Management Risk Management

Financial Review and Statements

17

Financial Review and Results for the Year Statement of Governors Responsibilities Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements

Report of the Independent Auditors

33

The Governors of Sarum Hall School Trust Limited present their Annual Report together with the Financial Statements for the year ended 31 August 2024 and confirm that the latter complies with the requirements of the Charities Act 2006, the Memorandum of Association, the Accounting and Reporting by Charities in accordance FRS 102 applicable in the United Kingdom and the Republic of Ireland effective 1 January 2019.

15 Eton Avenue, London, NW3 3EL

Registered Charity Number 312721

020 7794 2261

2024

FOREWORD

From the Headmistress

Sarum Hall School is an exciting and busy place with many opportunities built around a strong academic foundation. It is fascinating to see how the staff and the girls bring learning to life every day to nurture and develop inquisitive minds and innate curiosity.

Our pupils are encouraged to challenge themselves in every discipline to find their passion for a love of learning in an area in which they can build confidence. This confidence quickly affords them the courage “to have a go” in other activities. We are unashamedly ambitious for all and value each aspect of the curriculum. This is reflected in the wealth of opportunities the girls are exposed to and the range of stimulating subjects which make up our dynamic and diverse curriculum. In this way the children learn when it is their turn to step into the spotlight and contribute and when it is time for them to take a step back and let someone else bring in their area of expertise; all for the greater good of the team and the richness of the community.

“I think she is being extremely well taught in a very nurturing environment”

~ parent

We support our children to become independent, articulate, creative thinkers, who are inclusive, respectful, and courteous towards everyone. We encourage them to be resilient in themselves and to learn the personal skills needed to meet life’s ups and downs, so they can work and play with all members of our community.

Our caring and devoted staff – teaching and support – know each girl as an individual which allows us to identify and celebrate personal achievements and triumphs regularly. The strong sense of community promotes humility, a feeling of security and genuine happiness for one another’s successes.

Our pupils take their social and ecological responsibilities seriously, to ensure they can serve their community in the round. Our Golden Values (kindness, courage, respect, honesty, fairness, and resilience) underpin all we do to help prepare each child to continue their schooling and life’s adventures beyond.

“My daughter is happy and enjoys her school experience immensely. She often surprises us with the breadth of her knowledge”

~ parent

The Good Schools Guide says “Girls are bright and chatty, considerate, and polite, bubbling over to tell us about school life (not forgetting to push their chairs in neatly first). ‘So much fun’ they say, reflecting several parents’ delight at how their children ‘skip into school.’ A lively group of year 3s broke into a spontaneous jig, singing ‘We love our school!’ Parents praise the ‘good sense of collegiality throughout the school,’ with a strong culture of older girls being ‘big friends’ to the younger ones. School starts fairly gently in Nursery but is much more academic than previously, with most parents welcoming the more structured approach and increased pace”

Sarum Hall School nurtures, stimulates, and inspires. The pupils are rightly proud of their academic achievements and remarkable scholarship record. Their success is a testament to their hard work and our inspirational teaching and support staff.

Karen Coles Headmistress

4

2024

2024

REPORT OF THE GOVERNORS

Charitable Object

Sarum Hall School is an independent preparatory school that provides education in a positive, imaginative, caring environment for girls aged three to eleven. Our mission is to identify and fully develop the natural talents and potential of each pupil.

During the year, pupil numbers averaged 188. Applications for entry continue to exceed capacity.

Aims

Our goal is to instill an enthusiasm and a thirst for knowledge: Children are naturally inquisitive, and we use this innate love of learning to develop and inspire creative, independent thinkers.

We aim:

How is this achieved?

Core Learning Skills

We recognise that pupils have diverse ways of learning, so we employ a variety of teaching methods to bring out the best in each pupil. Our broad, balanced, and purposeful curriculum fosters core learning skills essential for success throughout a child’s academic and adult life. We hold high expectations for our pupils and support their development into becoming independent, adaptable, and critical thinkers.

“n E¢

6

2024

2024

Achievements

Our pupils are rightly proud of their excellent academic results and record of scholarships. The Year 6 cohort of 23 pupils achieved outstanding results at 11+. Collectively the year group received over 100 offers to various prestigious senior schools, with 21 Academic Scholarships and 5 Music Scholarships. Most admission offers came from ten schools: Channing, City of London School for Girls, Francis Holland School Regents Park, Godolphin and Latymer, Highgate School, North London Collegiate School, Queens College, London, Queenswood, South Hampstead High School, and St Paul’s School for Girls.

We are delighted with this success. We are a non-selective school which means that we do not choose children aged 3+ based on their academic ability even if it can be tested. To have such strong results at 11+ is a real testament to the hard work of our pupils, the dedicated teaching staff, and the whole community who have supported them to achieve so much.

Pupils successfully took part in ABRSM and LAMDA examinations, debating competitions and the Primary Maths Challenge.

We aim to foster a love for sports. The pupils have excelled in various sporting competitions, winning many events. The pupils achieved notable success in cross country, gymnastics, and netball. Other sports include chess, cricket, fencing, football, and swimming, to name a few.

We won the Best School for Healthy Eating in 2022 from the Independent School of the Year Awards. Our healthy lunch options include a variety of fresh fruits and vegetables, meat-free days, and no refined sugars in daily desserts.

The Independent Schools Inspectorate assessed our school in October 2023. They said:

Our dedicated and inspirational teaching and support staff made these superb achievements possible.

8

2024

Leavers Destinations

In 2024 our leavers moved on to:

Some of the other schools that our pupils have received offers from and moved onto in previous years:

Objectives for the Year and Future Plans

In addition to continuing our impressive academic accomplishments, the ongoing objectives remain in ensuring a good teacher-to-pupil ratio, providing individual pupil assistance, and empowering teachers.

The primary goals for this academic year, as well as those for future periods, are to:

We look to link the clubs to the curriculum so that we can extend beyond the confines of the classroom subjects and offer opportunities for pupils to develop their curiosity, resilience, and independence. Some of the clubs we now offer include performance arts, debating, music theory, choir, orchestra, brainteasers & logic puzzles, LEGO, creative drawing, arts & crafts, coding, eco-team, sewing, dancing, cooking, and book club.

Throughout the year, substantial investments were made to enhance our classrooms and create innovative, distinctive learning spaces that facilitate collaborative and independent learning. These spaces foster a welcoming and inspiring environment that encourages pupils to achieve their full potential.

9

2024

Public Benefit and Community Engagement

We have a longstanding tradition of supporting charitable, particularly those dedicated to children’s welfare. Pupils were encouraged to select one charity to support throughout the academic year, and they collectively voted to support Bliss, raising a substantial sum of £10,287 for premature babies. These fundraising initiatives encompassed a diverse range of events, including second-hand uniform sales, design competitions, raffles, games, and international days and projects relating to the curriculum. Additionally, donations were made to St Mary the Virgin Church Primrose Hill, the British Legion, and Food Bank Aid.

The Parents Association provides an invaluable contribution, including supporting fundraising initiatives and extracurricular activities. In recent years, the Parents Association has made donations of £5,000 to both Brake and the Kentish Town Community Centre. These donations were raised through various fundraising activities, such as a summer fair and a sponsored bounce.

Our connection with Rathmore House, the nursing home adjacent to the school, has been strengthened through carol singing, recorded assemblies, and the sharing of productions online. The sponsorship of a state school has enabled them to participate in debating workshops and competitions.

We are committed to environmental initiatives, taking part in Walk to Week and raising awareness through lessons and assemblies. Furthermore, we are a member of the Camden Clean Air Partnership, collaborating to develop a Clean Air Action Plan targeted at reducing air pollution in the area. We have an Eco-Committee, where pupils meet weekly. Notably, we hold the Green Flag Eco School accreditation.

Our premises are free to community groups. The Food Studio served the community by offering cookery workshops led by Families 4 Peace and The Winch.

During the year, we provided financial assistance to two pupils.

10

2024 (AI r¥. IP

2024

GOVERNANCE STRUCTURE

Governors

The Governors of Sarum Hall School are also the Trustees of the Charity and Directors of the Company. The following have served as governors throughout the year and up to the signing of the accounts, except where indicated:

Julie McEver - Chair (appointed 26 November 2024) David Day - Joint Vice Chair Vivian Thomas - Joint Vice Chair Amy Quittenton (appointed 25 June 2024) Alison Edelshain (resigned 25 June 2024) Caroline Sayer (resigned 26 November 2024) Emma McKendrick Gordon Rustin Ian Lazarus (appointed 1 September 2023) Jonathan Smith Kate Simon (resigned 26 November 2024) Marcela McLean (appointed 1 October 2024) Philip Ashton (resigned 25 June 2024) Sarah Hack Stuart Davies (appointed 14 November 2023)

Charity Number 312721 Company Number 00666444 Registered Address 15 Eton Avenue, London, NW3 3EL

www.sarumhallschool.co.uk

12

2024

Structure, Governance & Management

Governing Document

Sarum Hall School Trust Limited is a charitable company established in 1960. The liability of its members limited to £1 each, if it should be wound up while they are a member or within one year after they cease to be a member. The company is governed by its Articles of Association, which were updated on 19 May 2022.

Appointment and Development

Governors are appointed on their ability, the value they can bring, and their alignment with our goals and values. Before joining, new governors undergo an enhanced DBS check to ensure pupils' safety and well-being. Governors are appointed voluntarily and do not receive remuneration.

New governors are inducted into our aims, values, and operational procedures through a series of individually tailored meetings with other governors and the leadership team. Furthermore, they are provided with relevant publications and updates from the Charity Commission, the Department for Education, and professional organisations dedicated to the independent school sector, including the Association of Governing Bodies of Independent Schools (AGBIS), the Independent Schools Council (ISC), the Incorporated Association of Preparatory Schools (IAPS), and the Independent Schools Bursars Association (ISBA). Where necessary and right, more training is provided through specialised briefings and seminars.

Committees

We are legally accountable for the overall management and control and meet at least three times a year. We also hold a strategy day annually. The most recent featured discussions on the prevailing trends in private school education and potential political challenges associated with the implementation of VAT on school fees. We delegate responsibility to the following committees that also meet at least three times a year:

The Education Committee meets to review academic, pastoral, and curriculum matters, including pupil well-being, any specialised requirements, and safeguarding.

The Finance and Estates Committee recommends the Annual Report and Financial Statements to the Governing Body. Its responsibilities encompass financial planning, including funding arrangements, reserves management, income and expenditure budgets, and performance monitoring. Furthermore, the Committee considers matters relating to the built environment, such as maintenance and construction projects.

The Governance and Nominations Committee is responsible for assessing the effectiveness of the governance framework, evaluating potential new governors, and recommending their appointments. They oversee risk management arrangements and the compliance. The risk management framework is subject to ongoing review and enhancement.

Additionally, it is responsible for the appointment of a new Head and Bursar. The appointment of other members of the senior leadership team, such as the Deputy Head, is coordinated with the Education Committee.

Management

The day-to-day administration is delegated to the Head, who is supported by the Senior Leadership Team. The Head is responsible for the appointment of staff, except for the Bursar. The Head and Bursar attend meetings of the Governing Body and our Committees.

The Governing Body reviews the remuneration policy annually, with references to peer-independent schools, to ensure that our staff remuneration stays competitive.

14

2024

Risk Management

Governors are responsible for the management of risks faced. The Head and Senior Leadership Team prepare detailed risk management reports. The reports set out the key risks to which we are exposed, an assessment of their impact and likelihood, the controls to mitigate them, and the monitoring that takes place.

Key risks identified include:

We consider this risk management approach to be likely to be an effective process and intend it to be ongoing. We also acknowledge that systems can only provide reasonable assurance that major risks have been adequately managed.

Auditors

Brewers Chartered Accountants will be proposed for re-appointment as auditors at the forthcoming Annual General Meeting.

16

2024

FINANCIAL REVIEW AND STATEMENTS

Financial Review and Results for the Year

The net results for the year were a surplus of £416,285 (2023: £212,112). Income of £3,840,615 (2023: £3,463,750) is generated primarily from academic fees of £3,483,836 (2023: £3,190,579). Expenditure of £3,424,330 (2023: £3,251,638), consist primarily of School operating costs of £3,405,303 (2023: £3,242,241), the main element of which is teaching costs of £2,291,252 (2023: £2,193,963).

Reserves

Total reserves were £8,112,065 (2023: £7,695,780). Of this total, £5,718,736 (2023: £5,575,566) is represented by tangible fixed assets that are part of the premises and could only be realised by their disposal. The Charity has no contractual commitments relating to buildings works.

We maintain a minimum of £1,100,000 in free reserves to guarantee the accessibility of funds in the event of both anticipated and unforeseen circumstances. This policy is crucial for safeguarding our values and objectives, ensuring the maintenance of the premises, and providing a financial cushion against unforeseen income fluctuations or regulatory modifications. The value of free reserves was £2,393,329 (2023: £2,109,114) exceeding the £1,100,000 level stipulated by the policy.

The General Fund experienced an increase of £370,416, resulting in a total of £4,086,898. This growth encompasses the surplus of £416,325 for the financial year, the transfer of £56,969 to the Building Maintenance Fund, and the transfer of £11,060 from the Bursary Fund upon its closure.

The Premises Reserve Fund stands at £2,848,430 and represents the cost of land and buildings of 15 Eton Avenue in 1995 when the School was built.

The Building Maintenance Fund has arisen by the transfer from the General Reserve of a 2% depreciation charge on the buildings cost. The fund represents reserves designated by the Board for the upkeep of the School buildings. Significant repairs are charged against this fund.

Restricted funds include a grant of £31,428 received from Westminster Council for a learning support assistant, as well as funds of £2,868 raised and contributed by the Sarum Hall Parents’ Association.

Investment Policy and Objectives

We continue with a policy of a diversified portfolio comprising cash and treasury deposits of various durations and other investments. Other investments now only include a residential property acquired in 2013, which is currently rented out on an assured short-hold tenancy agreement. We prioritise ethical and social considerations when evaluating investment opportunities.

Significant Post Balance Sheet Events

VAT became chargeable on school fees from 1 January 2025.

17

2024

Statement of Governors Responsibilities

The Governors, as the Trustees of the Charity and Directors of Sarum Hall Trust Limited, are responsible for preparing the Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the governors are required to:

The governors are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the governors are aware:

Approved by the Governing Body at its meeting on 18[th] March 2025 and signed on its behalf by:

Julie McEver

Julie McEver (May 8, 2025 21:03 GMT+1)

Julie McEver Chair of the Governing Body

19

2024

Statement of Financial Activities

For the Year Ended 31 August 2024

For the Year Ended 31 August 2024
Notes
Income And Endowments from
Donations
2
Charitable Activities
Charitable activities
4
Investment income
3
Total Income
Expenditure from
Investment management costs
5
Charitable activities
6
Total Expenditure
Net Income/(Expenditure)
Transfers between funds
18
Net Movement in Funds for the Year
Fund balances at start of year
Total Funds at End of the Year		 2024
2023
Unrestricted
funds
Restricted
funds
Total funds
Total funds
£
£
£
£
-
2,868
2,868
7,279
3,602,571
31,428
3,633,999
3,309,251
188,748
15,000
203,748
147,220
3,791,319
49,296
3,840,615
3,463,750
6,745
-
6,745
9,397
3,368,249
49,336
3,417,585
3,242,241
3,374,994
49,336
3,424,330
3,251,638
416,325
(40)
416,285
212,112
11,060
(11,060)
-
-
427,385
(11,100)
416,285
212,112
7,684,680
11,100
7,695,780
7,483,668
8,112,065
-
8,112,065
7,695,780

21

2024

Balance Sheet

As at 31 August 2024

Notes
Fixed Assets
Tangible assets
12
Investment property
13
Currents Assets
Debtors
14
Investments
15
Cash
Creditors
Amounts falling due within one year
16
Net Current Assets
Total Assets less Current Liabilities
Creditors
Amounts falling due after more than one year
17
Total Net Assets
Funds
18
Unrestricted funds
Restricted funds
Total Funds		 Unrestricted
funds
Restricted
funds
£
£
5,718,736
-
440,266
-		 2024
2023
Total funds
Total funds
£
£
5,718,736
5,575,606
440,266
440,266
6,159,002
109,375
-
1,813,965
-
2,054,596
-		 6,159,002
6,015,872
109,375
89,126
1,813,965
-
2,054,596
3,626,274
3,977,936
-
(1,058,940)
-		 3,977,936
3,715,400
(1,058,940)
(1,214,224)
2,918,996
-		 2,918,996
2,501,176
9,077,998
-		 9,077,998
8,517,048
(965,933)
-
(965,933)
(821,268)
8,112,065
-		 8,112,065
7,695,780
8,112,065
7,684,680
-
11,100
8,112,065
7,695,780

The Financial Statements were approved on behalf of the Governing Body on 18[th] March 2025 and were signed on its behalf by;

Julie McEver

Julie McEver (May 8, 2025 21:03 GMT+1)

Julie McEver Chair of the Governing Body

22

2024

Statement of Cash Flows

For the Period Ended 31 August 2024

Net Cash Flows from Operation
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of current asset investments
Sale of social investments
Interest received
Investment income
Net cash (used in) investing activities
Increase / (Decrease) in Cash in the Year
Cash and cash equivalents at the beginning of the reporting period
Cash Increase / (Decrease) at the End of Reporting Period
Reconciliation of net income to net cash flow from Operating Activities
Net income for the reporting period
Depreciation charges
Losses on investments
Loss on disposal of fixed assets
Interest received
Investment income
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash provided by operations		 2024
£
392,822
(311,509)
(1,813,965)
-
138,174
22,800		 2023
£
577,712
(317,272)
-
490,710
84,175
20,900
(1,964,500) 278,513
(1,571,678)
3,626,274		 856,225
2,770,049
2,054,596
2024
£
416,285
168,304
-
75
(138,174)
(22,800)
(20,249)
(10,619)		 3,626,274
2023
£
212,112
129,946
(22,573)
-
(84,175)
(20,900)
34,090
329,212
392,822 577,712

23

LL ,Iill

2024

Notes to the Financial Statements

For the Year Ended 31 August 2024

1. Accounting Policies

Basis of preparing the financial Statements

The financial statements of the Sarum Hall School Trust Limited, the charitable company, have been prepared in accordance with 'Accounting and Reporting by Charities SORP Practice applicable to charities preparing their accounts, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Governing Body have reviewed the forecasted financial performance, the reserves position, and cash flows. These forecasts are based on the primary assumption that there will continue to be challenging inflationary pressure on salaries and overheads, the introduction of Value Added Tax on school fees, and the loss of tax benefits associated with charitable status. Based on these forecasts, the charity will be able to meet all financial commitments as they become due. Therefore, it is appropriate for these financial statements to be prepared on the basis that the charity is a going concern.

Critical accounting judgements and key sources of estimation uncertainty

The Governing Body is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities. 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 estimates. The charity estimates the useful lives of fixed assets based on the period over which the assets are expected to be available for use. The estimated lives are reviewed periodically and are updated if expectations differ from previous estimates. There is no change in estimated useful lives as of 31 August 2024.

Income

Incoming resources include tuition fees net of bursaries, grants and donations, investment income, interest received, and other miscellaneous income that are accounted for on a receivable basis. Rental income on our investment property is recognised on a straight-line basis over the lease term.

Expenditure

All expenditure is accounted on an accrual basis. Costs of activities are directly allocated to the applicable category of charity expenditure. Governance costs include the non-charitable expenditure of running the charity including external audit, any legal advice for the Governing Body and the costs of complying with constitutional and statutory requirements and otherwise satisfying public accountability.

Tangible fixed assets

Fixed assets are recorded at their historical cost. Expenditure on items below £100 is typically not capitalised. Although the buildings are maintained to a very high standard in order to extend their operational lifespan, the Governing Body believes that depreciation should be applied to reflect the actual cost of their utilisation. Depreciation on other assets is similarly provided to write off the cost of those assets less their estimated residual value based on prevailing market prices, in equal annual instalments over their estimated useful lives:

• Freehold property: 50 years • Fixtures and fittings: Between 5 and 10 years • Professional fees: 10 years • Computer equipment: 4 years

Investments

Investments are valued at their market value on the balance sheet date. Any unrealised revaluation gains or losses in the year are recorded in the statement of financial activities. The investment property is valued at a fair market price.

Unrestricted funds

The unrestricted reserve funds are a General Fund to provide working capital and to finance future capital development, to which any surplus during the year is generally allocated, a Premises Reserve Fund being the original cost of the freehold land and buildings and the Building Maintenance Fund specifically for the repairs and maintenance of the premises. Transfers into the later fund is made annually based on the fixed asset policy outlined above.

25

2024

Restricted funds

The Equipment Appeal Fund is exclusively designated for the acquisition and upkeep of academic equipment and facilities. Previously, a portion of surplus funds were transferred from the General Fund to the Bursary Fund. However, bursaries are now directly funded from the General Fund.

Pensions

The Governing Body agreed to exit the Teachers' Pension Scheme (‘TPS’) on 1 March 2024 and contributions have been made into a new defined contribution scheme.

The school participated in the Teachers’ Pension Scheme (TPS) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £115,858 (2023: £222,101) and at the year end £0 (2023: £0) was accrued in respect of contributions to this scheme.

Other Pension Schemes

The school is contributing to a defined personal pension plan with Aviva. Employer's costs are charged in the period in which the salaries to which they relate are payable. Contributions paid in the year were £49,465 (2023: £43,314).

Debtors

Fee income is recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank

Cash at bank includes cash and short-term liquid investments with a maturity of 365 days or less.

Creditors

Creditors and provisions are recognised where the School has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably. They are recognised at settlement amount after allowing for any trade discounts

Pupil Deposits

A deposit is collected in respect of each pupil joining the School. This may be used to cover outstanding fees and expenses on the departure of a pupil or retained in lieu of fees if the required notice period is not given.

2. Donations

Donations
3.Investment Income
Rent received
Other income
Deposit account interest
Unrealised gains on investment
4.Income from Charitable Activities
Fees
Extra-curricular activities
Grants
Bursaries awarded
5.Investment Management Costs
Investment management costs		 2024
2023
£
£
2,868
7,279
2024
2023
£
£
22,800
20,900
42,774
19,571
138,174
84,176
-
22,573
203,748
147,200
2024
2023
£
£
3,509,193
3,231,729
118,735
87,244
31,428
31,428
(25,357)
(41,150)
3,633,999
3,309,251
2024
2023
£
£
6,745
9,397

26

2024

6. Charitable Activities Costs

6.Charitable Activities Costs
Charitable activities
7.Support Costs
School operating costs
Teaching
Welfare
Premises
Support		 Staff & other
costs
2024
£
2,266,074
272,753
327,645
370,527		 Direct costs
Support costs
Total
2024
2024
2024
£
£
£
3,306,097
381,488
3,417,585

Depreciation
Total
Total
2024
2024
2023
£
£
£
25,178
2,291,252
2,193,963
-
272,753
257,255
143,127
470,772
440,378
-
370,527
350,665
3,236,999 168,305
3,405,304
3,242,261

8. Net Income / (Expenditure) is Stated after Charging

Depreciation
9.Staff Costs
Wages and salaries
Social security
Pension costs
The average number of staff in the year
Teachers
Administration
The number of employees benefits (excluding pension costs) exceed £60,000 was:
£60,000 - £70,000
£70,000 - £80,000
£80,000 - £90,000
£90,000 - £100,000
£100,000 - £110,000		 2024
2023
£
£
168,304
129,946
2024
2023
£
£
1,873,114
1,786,247
200,809
190,079
290,039
265,415
2,363,962
2,241,741
2024
2023
32
33
5
5
37
38
2024
2023
6
5
2
2
2
-
-
1
1
-
11
8

The key management personnel, comprising the Head, Deputy Head, and Bursar, received remuneration and benefits totaling £370,015 (2023: £340,183).

27

2024

10. Tangible Fixed Assets

Freehold
property
Fixtures &
fittings
Fixtures &
fittings
restricted
£
£
£
Cost
At 1 September 2023
5,733,147
1,286,186
19,964
Additions
-
288,116
-
Disposals
-
(3,817)
-
Reclassification
-
(10,455)
-
At 31 August 2024
5,733,147
1,560,030
19,964
Depreciation
At 1 September 2023
781,881
712,359
19,924
Charge for the year
17,896
125,191
39
Eliminated on disposal
-
(1,513)
-
Reclassification / transfer
-
(2,229)
-
At 31 August 2024
799,777
833,808
19,963
Net book value
At 31 August 2024
4,933,370
726,222
1
At 31 August 2023
4,951,266
573,827
40
11.Investment Property
Fair value
At 1 September 2023 and 31 August 2024
Net book value
At 1 September 2023 and 31 August 2024
12. Debtors: Amounts Falling Due Within One Year
Trade debtors
Amounts due from parents
Prepayments
13. Current Asset Investment
Treasury deposits		 Freehold
property
Fixtures &
fittings
Fixtures &
fittings
restricted
£
£
£
5,733,147
1,286,186
19,964
-
288,116
-
-
(3,817)
-
-
(10,455)
-		 Computer
equipment
£
276,987
23,393
(11,931)
10.455		 Total
£
7,316,284
311,509
(15,748)
-
5,733,147
1,560,030
19,964		 298,904 7,612,045
781,881
712,359
19,924
17,896
125,191
39
-
(1,513)
-
-
(2,229)
-		 226,514
22,949
(11,931)
2,229		 1,740,678
166,075
(13,444)
-
799,777
833,808
19,963		 239,761 1,893,309
4,933,370
726,222
1		 59,143 5,718,736
50,473
2024
£
-
62,377
46,998		 5,575,606
£
440,266
440,266
2023
£
3,319
47,191
38,796
109,375 89,126
2024
£
1,813,965		 2023
£
-

11. Investment Property

Current asset investments are funds held in fixed return treasury deposit accounts that are held for less than 12 months. These funds were disclosed within the total Cash balance for the preceding year.

28

2024

14. Creditors: Amounts Falling Due Within One Year

14. Creditors: Amounts Falling Due Within One Year
Trade creditors
Social security and other taxes
Other creditors
Enrolment deposits
Accruals and deferred income
Accrued expenses		 2024
2023
£
£
168,232
200,863
88,307
76,105
2,426
14,506
104,385
162,485
675,705
740,218
19,885
20,047
1,058,940
1,214,224

Deferred income reflects tuition fees paid in advance for the following year.

15. Creditors: Amounts Falling Due After More Than One Year

15. Creditors: Amounts Falling Due After More Than One Year
Enrolment deposits 1 to 5 years
Enrolment deposits > 5 years		 2024
2023
£
£
305,712
292,745
660,221
528,523
965,933
821,268

16. Movement in Funds in the Accounting Period

16. Movement in Funds in the Accounting Period
Unrestricted funds
General
Premises
Building maintenance
Restricted funds
Bursary
Equipment appeal		 At 1
September
2023
Net
movement in
funds
Transfer
between
funds
At
31 August
2024
£
£
£
£
3,716,482
416,325
(45,909)
4,086,898
2,848,430
-
-
2,848,430
1,119,768
-
56,969
1,176,737
7,684,680
416,325
11,060
8,112,065
11,060
-
40
(40)
(11,060)
-
-
11,100
(40)
(11,060)
-
7,695,780
416,285
-
8,112,065

The General Fund serves as a reserve for free reserve, ensuring the availability of working capital and financing future capital development. The Premises Reserve is allocated to cover the costs of the land and buildings at 15 Eton Avenue. A two percent charge is levied on the original building costs to transfer funds from the General Fund to the Building Maintenance Fund. This reserve is specifically designated for the maintenance and development of the buildings.

29

2024

17. Net Movement in Funds in the Accounting Period

17. Net Movement in Funds in the Accounting P eriod
Incoming Resources Movement
fund expended in funds
£ £ £
Unrestricted fund
General 3,791,319 (3,374,994) 416,325
Restricted fund
Equipment appeal - (40) (40)
Sarum Hall Parents Association 2,868 (2,868) -
Learning support assistant 46,428 (46,428) -
49,296 (49,336) (40)
Total funds 3,840,615 (3,424,330) 416,285
18. Statement of Financial Activities in the Last Accounting Period
Unrestricted Restricted Total funds
funds funds
£ £ £
Income and Endowments from
Donations 2,000 5,279 7,279
Charitable Activities
Charitable activities 3,277,823 31,428 3,309,251
Investment income 145,970 1,250 147,220
Total income 3,425,793 37,957 3,463,750
Expenditure from
Investment management costs 9,397 - 9,397
Charitable activities 3,201,684 40,557 3,242,241
Total expenditure 3,211,081 40,557 3,251,638
Net Income/(Expenditure) 214,712 (2,600) 212,112
Transfers between funds 31,543 (31,543) -
Net Movement in Funds for the Year 246,255 (34,143) 212,112
Fund balances at start of year 7,438,425 45,243 7,483,668
Total Funds at End of the Year 7,684,680 11,100 7,695,780

30

2024

19. Movement in Funds in the Last Accounting Period

19.Movement in Funds in the Last Accounting P eriod
Unrestricted fund
General
Premises reserve
Building maintenance
Revaluation reserve
Restricted fund
Bursary
Equipment appeal
Sarum Hall Parents Association
Total funds		 At 1
September
2022
Net
movement in
funds
Transfer
between
funds
At
31 August
2023
£
£
£
£
3,309,059
192,139
215,284
3,716,482
2,848,430
-
-
2,848,430
1,062,799
-
56,969
1,119,768
218,137
22,573
(240,710)
-
7,438,425
214,712
31,543
7,684,680
42,603
-
(31,543)
11,060
140
(100)
-
40
2,500
(2,500)
-
-
45,243
(2,600)
(31,543)
11,100
7,483,668
212,112
-
7,695,780

20. Net Movement in Funds in the Last Accounting Period

20.Net Movement in Funds in the Last Accounting Period
Unrestricted fund
General
Revaluation reserve
Restricted fund
Equipment appeal
Sarum Hall Parents Association
Learning support assistant
Total fund		 Incoming
fund
Resources
expended
Movement in
funds
£
£
£
3,403,220
(3,211,081)
192,139
22,573
-
22,573
3,425,793
(3,211,081)
214,712
-
(100)
(100)
6,529
(9,029)
(2.500)
31,428
(31,428)
-
37,957
(40,557)
(2,600)
3,463,750
(3,251,638)
212,112

21. Related Party Disclosure

No governors, nor any individuals associated with them, received any remuneration, benefits, or expenses. There were no related party transactions.

31

2024 WORt,r) A14AR¢II *JXI 32

2024

REPORT OF THE INDEPENDENT AUDITORS

Opinion

We have audited the financial statements of Sarum Hall School Trust Limited (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements 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 we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

33

2024

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Irregularities, including fraud, are instances of non-compliance with laws and regulations. Based on our discussions with the charity's management and the trustees, we identified that the following laws and regulations are significant to the entity:

Those laws and regulations considered to have a direct effect on the financial statements including UK Financial Reporting Standards and Charity Law; and those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charity and therefore may have a material effect on the financial statements including compliance with the charitable objectives, public benefit, safeguarding and health and safety legislation.

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. These matters were discussed amongst the engagement team at the planning stage and the time remained alert to non-compliance throughout the audit.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Trustee meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

34

2024

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely 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 no other purpose. To the fullest extent permitted 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 audit work, for this report, or for the opinions we have formed.

Andrew Skilton ACA (Senior Statutory Auditor) for and on behalf of Brewers Chartered Accountants 3 Birtley Courtyard Birtley Road Bramley GU5 0LA

Date: 7[th] May 2025

35

IAJ

2025-05-08

Sarum Hall - Final Accounts

Final Audit Report

Created: 2025-05-07 By: Victoria Knight (vknight@bg-brewers.com) Status: Signed Transaction ID: CBJCHBCAABAArWFMsd_MdQGOglx56GqMA3K6WDJnVMvd

"Sarum Hall - Final Accounts" History

Document emailed to Julie Mcever (jmcever@sarumhallschool.co.uk) for signature 2025-05-07 - 5:53:00 PM GMT

Document emailed to Jonathan Skilton (jskilton@bg-brewers.com) for signature 2025-05-08 - 8:03:09 PM GMT

Agreement completed.

2025-05-08 - 8:24:26 PM GMT