IIF.ACVNSFIELD EDUCATIONAL TRUST I.IMITED IA Company Llrrtlitd by GuAraTrteel GOVERNORS. REPORT AIYD FINANCIAL SI'A TEMEYTS FOR THE YEAR ENDED 31 AUGUST 2023 Registered Ch8nty No. 313120 Regisiered Company Number.. 00717500 TquE BEACONSFIELD EDUCATIONAL TRUST LIMITED REFERENCE AND ADMINISTK4TIVE tNFORMATION FOR THE YEAR ENDED 31 AUGUST 2023 Reference and Admtnistrativc detar15 of thc Company. ils GovcrnoT5 and Advis¢T5 foT the y¢ar ertded 31 August 2023 CJovernotB R Bailey • A D&lm2hoy N G Edwards C M Hildiich THow¢• T W Jenkill • S L Lowr¢y M J RcyncT J Shuiil¢ P Watkins Dr D Sxhot8 • Chair of Academic & Welfare Comrnitlec Dcptsty ChdiT Chair of Ftnance Committee Member of the Finan¢¢ & G¢ner81 Purposes Committee •Metnber of the Academic and Welfare Committee Company Secretary K Brocklc85 Company Re¥i5tcr¢d Numbcr 00717500 Charity Registered Number 313120 Registered Officc Davcnie% School 73 Siaiion Road Bc4con$field Buckin8hamshire HP9 IAA Key MRrtA8em¢ni Personnel C F Rycroft D Battcr5by Headmaster Assisianl Hcad Pasiorol & Designoi¢d SafcBuarding Lead He2d of Middle School & DesignaEed Safeguardin8 Lead Head of Ca-C.urricular Trip8 Bursar/Clerk 10 the Governors Deputy Head Dirccior ol. Studi¢5 A5sisianl Hcad.. Administration & Comrnunication Deputy Heod of Pr¢-Prep Hrad Df Senior S¢hDol A$515tant HEad.. Head of Junior School & Designat¢d Saft8uardin8 Lead S Bell K Brockles R Cooke E Gibson P Gibson S Mclniosh A scr￿CallI J Sicphen50n ItLdq)endertt Auditors Haystllil¢ltiiyrE LLP 10 Quttn Street Placc London EC4R IAG Bankers National Westminster Bank pl¢ I Pentl Road Beacon$li¢ld Buckingham8hire HP9 2PU BEACONSFIELD EDUCATIONAL TRUST LIMITED REFERENCE AND ADMTNISTRATIVE INFORMATION (continued) FOR THE YEAR ENDED 31 AUGUST 2023 SolieiLOTS Veale Wasborough Vizards Narrow Quay House Narrow Quay Bristol BSI 4IQA Penninwons Manches Cooper LLP da vi￿7 House, Basing View Basingstoke Harnpshir¢ RG214EQ BEACONSFJELD EDUCA TIONAL TRUST LIMITED GOVERNORS> REPORT INCORPORATtNG STRATEGIC REPORT FOR THE YEAR EYDED 31 AUGUST 2023 The GoveTnors (who are also dirc¢tor.% of Ihe B¢aconsfield EducAiional Ttusi Limit¢d lih¢ Company) for the pujyoses of the Companies Act) preseni their attnual report logeiher wirh the audiied financial sraLemenrs of Beaconsfield Educ&iional TN51 Limited Ithe Company) Cor the year ended 31 August 2023. The Governors confinn that Ihe Annual Repurt and financial statements ot" the Chariiable Company cornply with rhe curreni statutory Tequirements, Ihe Tequiremcnts of thc Chariiabl¢ Company'5 governing documenr and the provisions of FRS 102 and the StsteTnent of Recornmended PTa¢tice (SORPI 'Accounting and Reportillg by Charities Secolld Ediiion STRUCTURE. GOVERNANCE AND MANAGEMENT Consfliutlob and Obj¢ct$ The Company was incorporaird on 9 March 1962 and is regisiered as a company limited by guaranice &nd is regi5tcred 98 charitable company with tht Chariry Commission. It is governed by lis Articles of Association Ilasi amended 24 Nov 2Q201. The CompaThy'8 obje¢1 is tu advance edu¢ation for Ih¢ publi¢ b¢nefii in pursuit of which it operate5 Davenie5 Schotsl Iihc Schooll The Gov¢rnors are also Ihc Dircclor5 LTrf Ihc Ctsmpsny and thc Charity Trusiecs. Thc Gov¢mors ar¢ r¢quir¢d under the Articl¢$ to setv¢ J.q members of the Cumpany. Thcy ar¢ elected ai full Board tneeiinys. nomially the Company AGM. on the basis of nominalionslrecommendalions. Directors retire by roiatiun each ycur, but arc eligible 10 stand for re-election. Whi15t two Gov¢moTS have servcd fi)r a long period of timL. thL Board is rnindful lo refresh irs Th￿berS whilst rctainin8 rclevllnl cxpcrience from wiihin i¢¥. mcTnbtrship. Thc Board aim8 Iu TbLniit Tncmbcrs from a widc rdngc ol prolc5sional b3ckground5 and broud exp¢rienLe tv enhance styategic debate and decision making and enable the Board to Carry oui lis duiies effectively and enicicnily. The Board currently hss eleven members and Lq a guide is con.qLlttlted a$ follows.. Govcrnor5 from Ihe academic world. usually Head Teachers or Dcpuly Head Te&ch¢rs from Indcpertdeni Prep ond Senivr SLhool5. CurT¢nl PaTents with Televanl ski115 and ripcricncc.. at pre5cnt wc hav¢ a Gov¢rnor with fundr2i$ing skills. Pa81 Pdrenis. We aim 10 r¢¢ruil complementary skills and at present w¢ have profesbionals from medical, properry, legal. busine56 consuItsDry, mBrk¢tin¥ and o¢¢ounlaniy fi¢lds. Inductlon & Tralnlng Ncw Governor5 grc Provided wilh a comprehensive induction programme including onlinc training ihrough AGBIS &nd in-s¢honl familiarisalion vi51t5 An online library is available to all Governor4 which ¢oniains guidanc¢ material provided by AGFIIS. 1ST, Charity ComrtLiS510n and other5. All Guvcrnor5 hJvc romplct¢d Child Prolcrlion In Edu¢xtiort and PrEv¢nt Duty training 8nd havc T¢ad thr latcst ver5iQn Ot'Kcrpin8 Childirn SBf¢ ID Education. Th¢y rouiinEIy vi511 thc school and liaise wtth $taff whilst confirming policies and protocols ar¢ in place and the school remains compliani with ¢urreni legislaiivll. tR BEACONSFIELD EDUCATIONAL TRUST LIMITED COVERNORS. REPORT IE4CORPORATING STRATEGIC REPORT Icontlnutd) FOR THE YEAR ENDED 31 AUGIJST 2023 Other Rtl&tionships The Company is an active member of the Tncorporated Association of Preparatory Schoo15 IIAPSI for Ihe promotion and maintenan¢¢ of Preparatory School standards gcner&lly. The School also maintains m¢Tnbership with the Independent Schools Bursars Association IISBA) ar]d the Association of Gov¢min8 Bodies in Independent Schools IAGBIS). Governors, SODS are Eligible to apply for Year 7 & 8 Scholarships subject to published criteria bui no such &wards were Jnade in 2022-23. No Govcrnor receives any benefit from btsrsaries awarded to OUT pupils. OrEgnlsadoJ)•l Siructsre And Declslon MAklftg Thc Govcrnor$ meet as a Board at Icast three times a year to determirtc CoTnp•ny and School policy and review its overall managemcnt and control. for which they are legally responsible. The Board h&5 esiablished a 5eparal¥ Finance & General Purposes Conunillee to discuss financial and uperalional Jnaii¢rs concerning th¢ School and an Acadcmic & W¢lfaTe Committ¢e Lo consider matters 5u¢h 0$ academic pcrfornionce, bursaries and 5cholarship5. teachift8 Standards. 5afEBudrdin8 Ind welfare provision. Governors s¢rve on one or other committee depending upon thEir skills and interests. Thc Govcrnors dele8a¢e lh¢ day-t04Jay Tesponsibiliry for Ihe man&gemcnt and adminisEraiion of Ihe School ro the Headma51cr and the Bursar. supported by other members of the Senior Lradcrship Team ISLTI. which is undenoken wiihin tht poli¢i¢s and proccdure5 approved by Ihe Governors. R¢munerAtlon Polley for Key M%nA8ement Personnel The l O mcmbers of th¢ SLT are dc518natcd Kcy M8nagement PcTsonnel IKMPI. The Board meets anllually to Colleciively dctcrmine che poy •nd remuneration Df the Headmaster and Bursar. The He&dm4sieT 18 r¢8ponsiblc for detem)ining th¢ pay of the othcr mcmbets of the SLT in line wilh ihe managemenl pay scale. BEAco￿sFV￿LD EDUCATIONAL TRUST LIMITED GOVERNORS, REPORT INCORPORATING STtL4TEGIC REPORT IContlnu¢dl FOR THE YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT POLICIES AND PRIMARY OBJECTIVES Dxvenle5' v151on is to engagt. in5pirc and challrllge. Dwv¢nlc$' mls5ion 15 lo cnsurc that cvcry boy exp¢Tien¢e$ a brcadth of educational opportunities. encouraging and euliivaiing a lifelong eagemess for Icarning, whether o¢ademic. ¢reaiiv¢, artisti¢ or sporting. W¢ encourage the boys (o discover their own passions and ialeni. io develop determination and Tesilience, to Teach their potenliNI. and to become mindful and Ihoughiful individuals, with a siron8 sense of service, responsibility and community. Davenies. alms 8rc'. To offer a¢ademi¢ ex¢ellenc¥ alongside 20 extensiv¢ tdutalional experience To dBlivcr contcmporary and highly skillcd tcaching approaches whilst embracin8 tradiiional values To provide a vibrant. euring and inclusive environmeni 10 which all boys contribute and within which they ihrive Fundamen&l 10 this is our ut)derstandin8 of boys and how we approach Iheir learnin& whilst never losin8 Sl8ht of each ljoy as an individual. DiYeThle8' ethos undcrpins our vision to engagc. inspirc and rhallenge.. By en¥a¥ing, wc dcvelop curious. reflective ond enthus12$1ic thinkers With inspiratbon, w¢ nuTtyre motivatcd and ambitious Itarners Throu8h challenge, we 8row courageous and determined ch&raci¢rs Da*tnles' $plrlt provides the 5w)pillB stones that dcvelop courteou5. Lonfldcnt, Ihoughiful and indep¢ndent young men, upportlng our School'5 motto. sin8ulus pro fTaiernitalc laborans- caGh strivin¥ for the gnod of all. STRATEGIES FOR ACHIEVING OWECTIVES (hlr fees Hre Set ai a level to en5urc Ihe financial viability ofthe School that Is consistent with our Aim of providing a¢ad¢mi¢ cxcellcnce alongside an extcnsi¥L educ81ional cxpcricncc. Wc welcome childrcn from m¥ny FJny ethnic 8roup5. religion%. background5 dnd cr¢eds, and all candid&ies for admission are tr¢aled ¢quitably. Human righ15 and frc¢doms are resP¢ft¢d but Must ￿ balonced with Ihe lawful needs and Nle5 or our School communiiy and the rights and freedoms of others. The School seeks to idenlify and admLI boys who can take advantag¥ of the brv#d and varied currirulum and Ihrivr in thr ¢nvironmettt thai Davenie5 oller5. The Company is Commtiied to ¢nsunng ¢qual opportunity for all pupils, siaff and parents, irrespectivE of ra¢e, ethniciry, religion. sexual orieniaiion. disabjliiy. learninE diffiLuliy, body imagc or Social backgroutld, and will make reasonable adju51ments to meet rhe nce&% of Staff or pupi15 who are or becomc disabled. The Governors and the $tatTof Davenics 8re cornmilled to safesuarding and promoting th¢ w¢lfar¢ of vui piipi15 and have undertakcn regular trainin8 Ihrnughoui the ye&T. INSPECTIOIY The la81 CompliAnce and Edllc2tJonal Qualiry Inspeciion by Ihe Independent Schoo15 In5pecior8¢e1151) (Kcuffed in October 2019 another is anticipated in the near ￿￿Jre. BEACONSFIELD EDUCATIONAL TRUST LIMITED GOVERNORS, REPORT INCORPORATING STK4TEGIC REPORT IContiTrMcd) FOR THE YEAR ENDED 31 AUGUST 2023 ACHIEVEMENTS AND PERFORMAIYCE Puplls Numbers Pupil numbers continue to thrivc with 347 boys on roll al the start of th¢ 2022-23 y¢ar, Atademit Performance Our &cadcrnrc rcsulis Coniinued io show high levcls of altainmeni., our Year 8 pupil.q achieved IOOfj/o Pg55 rate at Curnmon Entrance, wilh 811 boys securing a place al their f1151 choice of School departing for 10 dityerent Schi>ols. Davenies achieved a numb¢r 01. 5cholar%hips acTOSS Academic, Music dnd All-Rounder c21egories with four being awarded in iotal. Scholarships were awarded tu Charterhousc, Hail¢ybury121. and Wcllington. The majority of pupils stay at Dav¢nie$ until the end ofycar 8.. howcver. of thc Year 6 boys who sat the I l+ examination for entry inio GramrnaT Schvol for Sepiembcr 2013. 654/4 of the pllpils entered for th¢ tests hav¢ drhieved Ihe qualif)catioD for a GrammaT School place. To Promote high educaitonal standards and fllriliiaie acces5 to YcaT 7 & 8. scholarships and cxhibition5 are awarded on ¢hc basis of an individual'5 ￿LIde￿I¢. ¥purtinB. musical. dramatic or desimn i¢chnolo8y reco8niscd polcntial or ability. S¢ven boy5 were awarded scholarships and a funher five boy5 ¢xhibiiions in Sepiernbcr 2023. P8Ytor*l At Daveni¢5 a great deal of tirne and atiettitort Is put into the pastoral care $ysiem, so that all the pupils ar¢ ttbl¢ to access all aspects of the curriculum. whciher this 1$ in the classroom, rcmotely or thc widLr cnvironmeni. All sialf, regardless of Ih¢ir role or job lill# arc part of the P&514)r81 care system and the system itself works bccau5g dll the adulis keen to do theLT very bc51 for thc boys. The c55cnliRI SlruLlur¢ of the PdSIUTal system is as li hos been for several year5. The Drpuly Head oversecs the pastoral leaders, who ore Ihc H¢dd of Pre-prep, Junior School, Ye8r$ 5 & 6 and Ycdrs 7 & 8, plus Ihe Head of Learning Suppori and Ihe School Nur8e. This Icam mec15 forrnally on a weekly basis 10 di5CUss cufTent individual pastoral nccds, as w¢ll as Ihe possibilities of policy changcs and up and ¢omin¥ 'big eveni¥,. The School ha5 a tutor system for the boys in Ycars 7 & 8, whi¢h me8ns Lhat cach pupil is part of a group of eight lo tcn. Such small groupings allow the luitsr io hu11d up B very strong. close gnd personas relulionship with Ihe Individual pupil &nd his parents. The airn of the ttIIL)r grtsups Is not only lo con51der the AcademiL dcvclopmcnt and d&y-10-day wurkludd5. bui also 10 Idkc a holistic Approach io each boy's cdu¢&lion. In¢luded in Ihi5 would be th¢ overview of 5POTiing activities. uptake of drama opponuniiie5. encoura8ement to be p&rt of a musical cnscmblc as well as a clear push ioward5 new aciivitics and ¢xperiences. Tutor mectings are trcquent, whirh ¢nsures Ihat boys wÈll di5fU8s all m2nnerof irnportynl issues, from current affJiTS to poliiical opinions lo econoTni¢ understanding. Thc boy5 talk #boui the need 10 sct cxarnplr5 for Ihe younger pupils and what leadership enlails, from boih the perspeciivc Dr bcing 5¢en aroLLnd School and from the ne2d bring an elemeni of servi¢c 10 thc Lomtnunity, Evrry Year 8 boy has an &rca of rc¥Fx)nsibiliiy around the SchDoI thal ¢tLabl¢s th¢m to 8ain leadcrship experiencE. The annual &nii-bullyin8 survey again produ¢ed Tesulis which were both pogitiv¢ and informative as to the $ute of (he school's itiner workin8s as seen through the eyes of individual pupils. Covturrl¢ul*r and Kytra-currlcular In June 2023 Y¢ar4. Year 5. Year 6. Year 7 and Year 8 each enjoyed a week's ouidoor pursuits rcsidcniial Irip, to Wi115hir¢, Shrop5hir¢, D015¢1, D¢von and France, respeciivcly, whilst Year 3 cnjoycd a camp-out al 5Ghool. Other residential trips through the year Included a Bushcraft experience, 3 Inp 10 York and a ski rrip 10 Austria. Boy8 ai Davcnie5 h&ve ¢tsntinued to have Ihe oppoThniry to iakc Iheir experiences beyond Ihe classroom though with the School coniinuing l(p provide a iern)ly ACE (Aliernalivc Curriculum Exp¢riEniel day for all boy5, Th¢[¢ is immeasurable benefit frotn these experiences for boih social and pastoral dev¢lopmeni. The Co-CuThiculaT Progra￿The continued ro Ihrive throughout the year ftom 'nop club, lo gymnastiC$. Lriaihlon 10 roboli¢s, ch¢55 to NFL Club. and French thearre to Mindfulncss. The Davenies Cub Pack continu¢s io be one vf the tnosi popular 8ctiviiJ¢s with b¢Neen 70- LOO boy5 enrolled at any lime from Ye8[ 3 to Year 5. T￿￿ BEACoNs￿ELD EDUCATIONAL TRUST LIMITED GOVERNORS, REPORT INCORPOPATlTriG STRATEGIC REPORT IContiThued) FOR THE TrEAR ENDED 31 AUGUST 21123 Boys have also coniinued to cnjoy success thai tange from county chess player5. LAMDA perfomiallces and the BEBRAS challenge. Thi5 ¢XtEnsIvt educational experieoce, In turn, helps to ensure the wellbeinB of our pupils, in part, through ennchtnenl whcrc wc can furiher stTcngthcn our close rclalionships with Ihe boys. M¢a5urcment of our su¢¢ess ts down to the Success of the enrichmcni programrne in terms of pupil a¢hteverneni outside of the cla5sroorn and in helping wilh peisoDal d¢velopmcnr by delivering key tran5ferrabl¢ ski115 and promoting posiiive socioetnotional ou￿0Me$ through the co-cutTicular acuvilies PTO8ramme. Sport A wid¢ range of sport is playtd at the School with flxiures OT competitions held in tugby, football, cricket. swimmin8. athletics, gymDa5tlC5, ¢ru55rfounlry and triathlon. Pupils also entcr golf, tenni5 andjudo competitions. Davcnic5 swimmers cnjoy¢d sigllificartt success including ai Ihc IAPS swimming fina15. Pupil$ alJo enjoyed significani succc55 in national gyTnnastlC5 CQtnpeiiiions and B number of boys enjoyed rhalional success in the IAPS regtonal aihleiics cO￿pe[i[10ll. Sports Day very well aitended by parents and the boys Tose 10 Ihe Challenge whilsi wc also gavc ovcr OUT sports fjelds and farilities for use by Hi8h March ¥iTIs School Sports Day. The School hosted local prirnary 5Ghoo15 during th¢ year a$ Davenies hosted swimming lessons for two lo¢al schools and oiher sports programmes includin8 or8anising And hos(Ing fooib811, crickci and rnulii-sport iournamenis for In local primary school5. Aris 2022-23 was anoihcr busy and produciivc y¢ar fnr Ihc Mu5ir Dy&rtmcni ai Davenics. and a schoLII produ¢ii¢)n18u¥sy Milonel was thc Lulmination of Ihc Lcnt term, b¢ing played to pu¢k¢d audienLe& evcry night. Years 3 10 5 had very successful drama Productions and parcnis aiid 8randpaTcnlS attended the Nativiry and ChTi51ingle service. The Carol Servicc wa5 vcry popular and packcd thc church. The lun¢hiimc concert programme conlinu¢d ¢ach ieTm. and pruved very popular lo all who altcnded while Ihc ncwly created G&la Conccrt showcoscd the school's best musi¢ians in a Sibmaiure evenl. The ycar's highlights were capiured on Ihe school website and aciively prvmoied via social media. Brltlgh Vxlues Al Davenic5 wc 18kc 8Erivusly uur rcsponsibiliry 10 prepare our boy5 for lifc in modern Llntain. Fundamental British Vdluc8 arc pwmoied, discussed, toughi and, ulrimalely, lived out by OUT boys, staff and VLSltors in their daily interaction5. This is donc throu8h the School and Food Councils,. Ihc TCWUTd5 and santlions system which un(krpins boys taking overill rtSPL)nsibility," boys being given a voice Ihrough qucstionnaiTE5 dnd iaTge15," peer meniots and buddy sLhcme5'. ollerin¥ ovcr 50 extra- and co-curricular Club5 each term,. ieam gamcs". Gclebrating faith8 and differ¢ncc5 in assemblics And lessons AS WCII 8s achicvcments in and oui of School,. whole SGhool celcbTaiions and commcmoTalions buch as our Remembrance Service.. Ihe boy5 choosing School and House ¢hori11¢6 10 support. and understanding eh¢ices vi4 visitin8 speakers, workshops and vi&its. BursAry Aw4rds The Board agr¢ed 10 the esiablishrneni of a pcrnanent Bursary Fund (Fundl in July 2002. Thc Fund 15 funded dirccily by fees with some additional donations. The Fund is noi formally con51ituled bui has been madc available lo ￿Ls(lng pupils wh05¢ family hav¢ found thErD5EIv¢3 in financial difficultie5. This h&5 includcd bereavement and estrdn¥em¢nl bui has mort uqually been related to ihe Ios5 ofcmploymcnt OT failure in business. Th¢ Fund is noted in the 5tatulory accounts as boih Re$tricied Funds (pre September 20161 and now a5 a D¢signat¢d Fund. The GovcrnoT5 are committcd lo broadening a¢cess 10 the Sthool in YcaT5 7 & 8 by off¢ring to eligible parentsl8uardians means-osted financt21 sllpportwith the paymeni of school fees depending on th¢ finanrial, Lompassionaie or other pcrtinBnt ircum5tsnces ¢)f dpplirants. One boy Year 8 was awardtd a buisary fDr September 202213 lotalling TruE BEACONSFIELD EDUCATIOPIAL TRUST LIMITED GOVERNORS, REPORT INCORPORATING STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 AUGUST 2023 Public Benefit The Govemors, as Charity Trusiees, havc re8ard lo Ihe Charity Comrnis5ion'.% publTC benefit gllidance when exercising Ihcir poweTS and duties. In addition to the burs8ry awards noted above. the GoveTnors encourage Ihe School's partn¢rships and rclation8hips with the wtder community. The School work5 Wlth m&ny local charities and community groups to widcn publi¢ a¢¢ess io Ihe facilitics and resources thdt we have available. We rnainlain a strong relationship with Si Mary and All Saints C of E and ButleTS Court Primary Schoo15 locally and providc &cG¢ss 10 thc swimming pool and 5WiTDrnin8 ieachjng several iirnes each week for IhtirchildTen 1144 hours) and 72 hours of free teaching. W¢ also mainiairt St Mary's sports fields and some of aur own Ngby and socccr rjxtures are h¢ld ther¢. A full summcr camp proBTamm¢ ensued. An avera8e of 40 children aiiended every day during E85tcr and 75 over Ihe summcr. Workin¥ closely wilh spor￿ Nul and Burnham GyTnDabli£% Club. we open our faLililies 10 many more children in Ihc local comrnunity for ¢Tickei, swimming, 8yrnna5tics And other sports. The School hosted Sports Nut's Sport Rclief 24 hr Swimaihoo and qui7. nights for local charitles. Beaconsfield Rugby Club, Bcaconsfield Cricket Club, Chris Morrow Cricket Club, Coleshill Crickei Club, Karan Crickcl A¢ad¢my, Gerrard's Cr085 Crickcl Club, S¢¢r Gr¢en Fooiball Club. Beaconsfield Youth football tcarns and PFO Footbo11 Tnake regular usc of our spons facilities oui of school hours. Th¢ PE And Games t)epartmeni succes5￿]lY ran Ihr¢e lar8¢ multi-spon5 compeiilion foT IoLal primary Schools whcrc r)avenie$ boys supponcd Ihc day atld wcr¢ drafted in lo help some tcarn5 who were a liiile shori on the day. The Hi%lory department ran a very $ucccssfiJl History Compeiiiion Iyear 6} and we hosied a Maihs Competition for local Schools Ch81 included 24 primary SLhoo15. The School'b H¢ad ofcompuiing ha5 conliiiu¢d tu m81niain ¥ornpulin¥ links with IoLal schools. Providin¥ these speLiAlisi subject oppominiiies 15 a 8ood examplc Of how we u8e our expcnisc to promote leaming in other Schools. Th¢ School also hosts a meeting of local nw'series eaLh tcrn enjoys supponing local events such as Rem¢mbrance DBY. Bcaconsfield Fcstival of Lighis, dog shows, chariry cvcnL4. theatre 8TOUP$ and local compcLltions. Thc acadcTlliL yc8x 2022-23 was an incredibly busy and successtul year tor our charity cndcyvours at Davenics. We cuntinued to support naiional evenis such as Childrcn in Nced. Save ihL' Children Chri51Tnas Jumpci and Comic Rclicf, whilsl al$0 supporiinx local charilics such a5 Broccrics foT the One Can TTUSI. and don&ling unwAnied school cquipmenl to othcr local schooly and organlsaiions. With Ihe $uppori of Friend5 of Davrnies. we r4ised over £17.000 for a wide rangc of chariii¢s, Whilst thi5 IS Li liiile lower than in previous years, our Lnitiation of nvn-mvnrlary donations expanded 5ignifitantly, with a particul&r focus on SUSl8inability activitlC5 10 hclp Iho%e in need sllch as Surplus Mcal￿warM clDiheslbook51iPadslioy5 to local communities and groceries in response to the Turkeylsyria humaniiarian cri515. We also offered our faciliiies free of charge lo Ttddy's Wi8h. a local ch4rily thit w¢ have %uppori¢d previously, SL) they could fai5r around £40,000 for Ihcir appeal. In ietTns of our main House charities, the followin8 activities look place.. Cook raised k4.243 Irorn a swnsorcd run for Diabeie5 UK DTak¢ held a 8ccondhand book 5alc Taisin8 £1.700 for Can¢er Re$¢arch Scott donated foodltoys and ¢loihtng and raised £1,500 for Wycombr Hub Shackleton hcld a 5pon50Ted Car w8sh raising £2,614 for Au¢isti¢A In March 2023, we W¢lE drlighied to receive & Highly Commended award frorn Muddy Siilettos wiihin Iheir 'Givittg Someihirtg Back, caiegory. Living the school motto through our charity programmc, ¢Tnpowerin8 lh¢ boys 10 drive our ¢ampaign¥ with the backin8 of staff and parents, uui paitntr$hip with Thomas Franks lo p￿VIde tneal8 10 those in need and our popular Cubs pack who continue to participai¢ In multiple community activit1¢5 were all contributing factors. VoluntEer$ The BoaTd would like lo fornally thank Mrs Ann Tennant and Ihc parent members of th¢ Friends of Davenie5 {rcgisl¢r¢d chariry 11675521, and parent volunteer5 in the School for their enthu51a5m and continued support ainouDtin8 to tnany hundreds of houT5 of service. lrt iotal over 40 volunteers assisted the School and they Were involved in both Iht day io day BEACOINSFIELD EDUCATIONAL TRUST LIMITED GOVERNORS? REPORT INCORPORATING STRATEGIC REPORT Icondnuedl FOR THE YEAR EIYDED 31 AUGUST 2023 life of thc School and the muliiiude of fundraising and social activities Ihal &re organiscd for thc Davenic5 cornmunily. which includes listening to boy5 read. and engaging enihusiasiically in Cub pack activitie5 in School. FINANCIAL REVIEW FlnaTrci&l Performance The Cjovcmors considered the financial perforrnan¢e of the Company this year to have been good in what was a financially challenging year for most UK businesses. The ouLbreak of war in Ihe Ukraine and ihe subsequent effect on Tapidly rising eDerBy and food prices Wds feli in fijll this year Wilh some rDbust financial managemenl, the high cost increases were part miiiBdted clscwhcrc to allow ihc School lo still achieve it'8 necessary financi81 targcts. Incom¢ incTe&8cd by 4/012022.. up 9/0110 £5.913,56512022.. £5,688,334) which was driven by d fec increase and fijrther extras revenue, otrset by a sm811 reduction in pupil numbers. Overall pupil numbers were slighily down on Ihc privT year bui have rccovered to record Icvels for thc start of the academic year 2023-24. Nci income wa5 duwll &¢ £182,09012022.. £329.693). This is a diTCCt rcsult of thc econorny-widc hi8h cosi incredsc5. in particular for food and electriciry. Whilst miiigaiing actions were taken 10 miniTnis¢ this, rnargins Still dropped in thc year. Expendiwre als() in¢reased by 6.90/y to £5.731.475 {2022..£5.358,6411 aticr CL)5t rnitlBaling 5awinx5 were ￿k¢n. Surpluses are invested in thc cducational PU￿￿5¢9 and intrastructure of Eh¢ School. The Govcrnor5 consider Ihul thc fund5 Brc su￿1¢1¢nt to conlinuc in operation and io fIn￿ce the ouBoin8 capiial expenditure necdcd 10 maintain and upgradc thc School's facilitlC5 to providc an exccplional IcarninB environrncnl acTOSS the board. Capital cxpendilw¢ £262,15112022". £491,343 1 inrludcd lh¢ svme plaruLlll¥ Coslb for the proposed SciTech Hub. d new .ier¥er, lighrin¥ upgrad¢s, Ipods, 4 w#l¢r lank ¥nd new si¥rtJg¢ to yli¥n ¢0 the brandin8 refresh which OCCU￿ed in the year, R¢J¢rv¢J Pollcy The GovemoT$ rcgularly rEview thr Icvel and naluTe of the reserve funds of the Sehool. Fund$ hrld Nt ¢hc yettr end were as follows.. UnrestriLied general fijnds.. £7.050.639 Re$lri¢i¥d fullds, £72,364 D¢sign•ted fijnds (Bursary Fundl-. £157,500 Re51riclcd rc5ervc5 relate eniircly to the School's Bursary Fund and rcmain in placc for disbursemcnl as cascs olhdrd5hip arise. The School docs not hold any Irec rcserve5 havin8 finanLed the dcveloprncnt cost% and fit out o(the Jubilec Building. Thc GovcrnoTS arc lookin8 ro build up frtt rescrvcs over the forihcoming year5 although Ihcy may bc dcpl¢t¢d frorn lime titne in ronjunclion with particular projccE5 FundrAlslng The School empluy¢d a fundTaSS¢r during th¢ prior y¢ar but du¢ to thE change In economi¢ climat¢ and the delay with planning p¢miission for Ihe new S¢iTe¢h Hub building (now re¢eiv¢dl the fvndraising was put on hold. Th¢Te has been no oulsourted funitraising via pro(¢ssional fuHdrais¢rs or oih¢¥ third parties, Iher¢fore, there is no reqU￿tment for tht SLhool to be Tcgislered with the fvndrai$ing regulator. There were no complainis made dunn8 rhe pcri(xi in relation 10 fi￿dra18]ng FUTURE PLANS The Gov¢mors are committed 10 invcsting in Ihe infrasLruclure and rcsources of the School and refurbishmenis ofexisiing clas5roums, the main chan8in8 rooins, 5pon5 surface5 and upgrade5 to the Pcrfortnlng Arts Centre and adtnin15tiative offior5 W¢Te &ll Ca￿led out. The l O-year dcveloprnent plan and school strategy wa5 r￿lSIted and updal¢d. TR BIACONSFIELD EDUCATIONAL TRUST LIMITED GOvE￿￿OR5, REPORT INCORPORATING STRATEGIC REPORT Icondnuedl FOR THE YEAR ENDED 31 AUGUST 2023 The key aims of the str8tcgy are.. To offcT a¢adEmic cx¢ellEncc alon8side an exlcn5ivc edut&tional ¢xpeTlenCC.' Wc ire going to raise the profile of th¢ Perf•rmlng Arts so the standard of perfomiance and levcl of participation 15 ex¢eptional. Wc are going to build a SciTcch Hub in Drder to beticr PTcpar¢ Dur s￿dentS for their fiJll￿¢ care¢rs Wt are going to provlde an enviable, ¢rtgaging co-currlculir programme that every boy experiences a breadth of ¢ducational opportunities We are goittg tts build on recent changes which scek to deliver an ambitious. extensive turrltulum in all subjects We 8rc goirtg to extend our rolc wiihirt ihe iporttng comrnunlty To deliver contsmpordry and highly skilled ie2chin8 approaches whilst ¢mbracin8 traditional values= We coniinuc lo provide effettlve tools for tca¢hing st)ff10 measure learning skills across the board Wc arc commiiied 10 Providing opporlunities for our 51aff to devclop progress within the School such that Daver)ies is a School where out5t*ndlng tegcher5 Wallt to work We will continut to embr&¢¢ t¢chnolo8lcal advin¢emeThts wiihin our ieaehing. learnin8 and administration To provide a vibrant, carin8 and inclusive environmeni 10 which all boys contributc ind within which they thrive.. W¢ are Boing 10 develop a progTomm¢ thai encourdges tommunlry eng4gement We are 8oin8 10 continuc lo investigate th¢ poicntial for portn¢rshtplsl We arc going io expand ielA(ionships wilh our dtLd es(ablish a rccogni5able n¢Lwork within Lhe Davcrties Community W¢ dTe ¢ommiiied lo build upon our p*itoral tare framework PRIINCIPAL RISKS AND UNCERTAI.NTIES The GovernorN rEViEW linan¢iil p¢rforniance at lh¢ termly Finance & Gcneral pur￿)$¢5 Commiti¢e and the Govemur6 considcr 5traic8ic, rcpuiational. operaiional, compliance and financial risks &1 cach Board Tneetinx. This system of internil control. which ig rcviewed annually for ¢ffeclivene55. cnables the Governors to idcntily th¢ major risks 10 which thc Trust is $ubject,' ensure thal proc¢duTes are Ln placc 10 manag¢ them 4n(J cnsure thai Ihc GovcTnur$ are madc aware of both. Iknsk manaxcmcnt seeks io.. manage the risks that arc significani 10 ¢he fiJifilm¢nt of our rhariiable objectives llnd School Aims SUPPOrt decision making given Ihai there are no certttiniies aboui the fijwre encoura8e the idcntifiL&tion of 51Ten8ths and opporttllllli¢s a5 well &5 weakn&s5es and threats contribuie ¢0 the safeguarding of the Trust's ass¢is lincludin8 Ihc prcventiunl deieciion of fraud) faBilitat¢ the ¢lfe¢ttveness and efficiency of operations hclp ensure the reliability of reportin8 assisi cumpliance with laws alld Tesulations hrlp EnSUTe that Ihe TNst is not unnecess&rily cxpostd ￿ ivoidabl¢ risk$ Key risks identified are.. Compclilion locally lind6p¢tLd¢nt and statcl Rising custs of ener￿ and energy iDstabiliiy Iriscn 125 %) Polilical faciDT5 (VAT on fees and10&s of Bu5in¢ss Raies reliefj 10 TthE BEACONSFIELD EDUCATIONAL TRUST LIMITED GOVERNORS. REPORT JNCORPORATING STRATEGIC REPORT (Contlnned) FOR THE YEAR ENDED 31 AUGUST 2023 Miiigatin¥ factors: The GoveTlloTS sr¢ Tn]nd￿l of the risks asso¢ioted with a competitive schools. market locally and whilst the School Toll appears healthy IheTC 15 no loom for tornplacency and the Governors remain vi8ilant. Thc Govcrnors conlinuc to tnonitor perfomiancc regularly tts well as projected t￿h flow and trading results and continually review mitigation plans should a either a fall in pupil numbers or other ex￿￿&1 fa¢tors be¢omc a factor. A thrcc-year plall is regularly updated with a range of scenari05 looking al current risk faclor5 to lh¢ ind¢pcndcnl 5rhoois secior and likely Cffcets on the school specTfically. Howcver. thc school has also bc¢n looking at longer-terni planning considcTaiions around Ihe risk of VAT and a change of govcmmcnl. a5 WCII &5 COll5Tdering the opportunities 10 expand the DavetLiE5 brdnd through parthcr5hips or acquiring ￿0th¢r school. STATEMENT OF GOVERNORS RESPONSIBILITIES The Governors (who are also directors of The BeicDnsfield Education81 Tnjst Limited for the PUTPQ5CS of Company Lawl Are responsible for preparing the Governors. Report and Ihe financial S￿tern¢￿￿ in accordance with applicable law and United Kingdom Accountin8 Si8ndards (United Kin¥dom Generdlly Accepted Accoun¢iDg PTaclir¢). Company Law requiTCS Ihc Govcrnors lo prcpaTC financial staternents for e8¢h financial ye&T whirh give & tnje and fair vicw ol Ihc 5tatc of affair5 of the charitable company and of the incoming resource$ and application of re80urce8, including the income and exp¢ndi¢ure, of rhe ¢hBriiable Company for thai p¢riod. In preparing these flnancial 51atcncnt5. the Govemor$ are Tequired io.. seleLt suitable accounlinK poliLic5 and Ihen apply Ihcm consistcntly r>bscrve the meihods and prin¢iples In the Chari¢i¢$ SORP mike judgem¢nis and ¢81imdiLs Ihai are reasonable and prudent state whether applicable UK Accounting standards havc been followed. 5ubjccl to any rnaithal depatNT¢S di5¢1osed and explaincd in Ihc fiiian¢ial Statements prepare the finan¢ial stsiemenis on (he going concern basis unless it 15 inappropriate to prc5ume that Ihc charitabl¢ company will continuc in bu5ine5S Thc Govcrnor5 arc TB5poll5iblc for kccpinB proper accounling rrcord$ Ihal disclose with re2.40nable accllr8Cy at any lime ot. Ihc financi81 p0511ion of the ch8rilable ¢ornpany and ¢nablB them to ensurt thai the [￿anCI&l sialemenis comply with the Companics Act 2006. They arc also rcsportsiblc for safeguarding the assets of the ¢h&ri¢abl¢ company and hence for takin8 rc•50nkble stEP5 for thE pr¢ventioD and d¢i¢ciion offraud and oiher Irregul￿li1es. BEACONSFIELD EDUCATIONAL TRUST LIMITED GOVEIU40RS' REPORT INCORPORATING STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 AUGUST 2023 Disclosure ol Informitlon to Audltor5 So far a5 trach of th¢ Governors is aware at the time the report is approved: There is no rclevanl audit information of which the Company's auditors are llnaware.. and The GovernoT5 have takert all steps (hat they oughi tu have tskcn to mok¢ themselves aware of iny Tel¢vant 8udii inforTnation And 10 e$iablish ihai the 8uditor5 are Aware of that inforniation. AUDITORS In accordance with S¢clion 485 of th¢ Companies Aci 2006, the appointmcni of auditors to thc Company was discuwd at the Annual Gcncral Meeting on 13 March 2024 It W45 agTccd 10 rcappoin¢ H*y$rna¢intyre LLP for Ihe fin&ncial year 2023- 24, th¢ Bo of Govemors at 11$ meeting on 13 March 2024 and si8ned on its behalf by.. N.G Edwar Chair 12 Ir4DEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACONSFIELD EDUCATIONAL TRUST LIMITED op1￿1￿n W¢ have audited the finan¢ial stakmet)ts of Beaconsfield Educational Tn]st LimiLed for the year cnded 31 Augusi 2023 which comprise the Siatemeni of Financial Activiiies. Che Balance Sheei, the Cash Flow Statetnent and the related noLes including a summary of significant accounttng policies. The r)nallci81 reportiTLg framework that has bren appljcd In their prepar&rion is Bpplicable law and United Kin8dom Accounting Stsndard5, including Financial Reporting Siandard IQ2 Th¢ Financial Reporiing Standard applicable in the UK and Republic Of Ircland Iurtiied Kingdom Generally Accepied Accounting Praclicel. In i)ur OPlDion, thc financial stAlrrncnls.- give a and fair vicw ofthe stale of Ihe charitable company's affairs AS at 31 August 2023 and of the charitable ¢oJnpany's D¢1 tnovemeDI in funds. including Ihe income and expettditure, for ihc year thcn ended. have bccn properly Prepared in accordance wilh United Kin8dom Generally Acccptcd Accountin￿ Practiec,. and have been prepared in accordance with (he requirements of the Companies Act 2006. Bas18 for opinlon We conduLied our audit in accordance with Iniern&iioll¢il Standards on Auditing (UK) (ISA¥ IUKII and applicable law. Our rc5ponsibilitics under Ihose Sl&nd8rds aTC ￿rther des¢ribed in the Auditor's respon$ibiliiies for Ihc audii of Ihe financial 5t&iern2nts seciion of our report. We arv ithdcpendent of the charirable company in accL)rdance with the ethical requircm¢nts thai ar¢ relevani ro our 8udit of the fittan¢iFAI siaiem¢nis in Ibe LIK, Jncludin¥ Ihc FRC'S Ethical Standard, and we have fulfilled our other ethical respon.%ibiliiies In accordance wilh these requirements. Wt bclicvc ihal Ihc audit cvidertce w¢ have obtained 15 sufficient 2nd appropriate to provide & b&si.F for our opinion. Conelu$lon$ rel#lSng to eolng Concern In audiiin8 the financial 8iaiement&, we have toncluded thai Ihe governors, ys¢ of the goin8 concern ba515 ofacwunling In lh¢ pr¢p8ralion of Ihc financial $lalcmeni$ 15 Bppropriaie, B&sed on the work w¢ have perfornied, we have noi identified any material uncertainiie$ relaring to ev¢nts or CDTrditions that. individually or cvlleciively. may cast S18nificani dnubi on the charitable cornpany'5 ability 10 ¢oniinuc a$ a going COnLCrn for a pcriod ol'dl least twelvc months fri)m whcn the financial 5t8lemcn15 Are authorised tor issue. Our r¢5ponsibiliiie5 and the responsibilitie8 of the ¥ovemors with respeci to going eoncem are described in Ihe relevant se¢lions of this r4)0rt. Other Inforrnatlon The ¥uvernors are responsible for the other infotination. The other infornialion compri5c& the infornHlion inEluded in rhe Govcrnors, Report. Our opinion on the flnancial %iaiernenls does noi covcr Ihc L)thcr inforrnation and, ¢x¢cpi io the exi¢nt oiherwi$c cxpliciily slated in our rcport, wc do not exprcs5 any lorm of a55urancr conclu%i¢rt thereon. In connection wTth our audit of the financiiil 5taternenls, OUT r¢sponbibility is to read the other inforniAiion and, in doin8 SO. consider whether th¢ oth¢r informatiun is maieriAlly Incon$151eni with the fLnancial sialernenis or our knowledgc nbtained It) Ihe audit Dr olhctwise appears lo be maierially m16s12ted. Lf we ideniify such maleri&l inconsistcncics or &ppareni material m185tatemenis, w¢ 8T¢ r¢quirrd 10 detemiine whcther there ts a maierTal Mi￿tal¢ment in thc financial 51atErnEnts or a material misstatement of (he other infomiaiion. Tf. based on Ihe work wc have performcd. we conclude Ihai there is a maierial mi551aiemeni of this oiher information, we are required lo report Ebai faci. Wc have nothin¥ lo rcport in Ihis re￿rd. Oplnlons on other rnatterj prescribed by the Companie5 Act 20Q6 In our opitlion, based on Ihc work undert8k¢n in the cour5c of Ihe audii.. Ihe information given in the GovernoTS' Report Iwhirh incorporaics the strat¢gi¢ report and Ihe directors. report) for the financial year for which the finanrial 5tatemen15 are prepared is consistent with the financial statements., th¢ strategic report and the directors. report included within rhe Governor'5 Report has been prepared in accordance wilh applicable legal requirements. Matters on whlth we are requlred tC* report by exctptlon In the light of Ihe kntswledge and understanding of the charitable cvmpany and ils environrnent obiained in ihe course of thc audit, we havc nol Identified maierial misstdiements in the Governors. Rcporl Iwhich incorporaL¢s th¢ stralcgic ￿Ort and the dir¢ctOT5' report). 13 INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF BEACONSFIELD EDUCATIONAL TRUST LIMITED Matters whlth we are required to report by t¥¢eptlon l¢ontinued) We have nothing lo report in r¢spett of the following matter5 in relation to which the Companie5 Act 2006 requires us to report lo you if. irl OUT op￿10￿.. adequatc a¢¢ollrtling records have not bcen kept by the charit&ble company,. OT the ehari¢able company financial statemcnts ar¢ Do¢ in agreement with the ac¢tsurtting records and returns: or c¢rt&in disclosures of govemor5' r¢muneraiioJJ specifjtd by law are not tnadc- or we have not rcceivcd all the information and ¢xplanaiion3 we require for OUT audii Re5ponslbllltle$ of governoys for th¢ financlal statements As explained more fully in the Siaternent of Governors, Rcsponsibilitics on page I I, Ihe governors (who are Jlso the directors of Lhe charitable company for Ihe purposes of company lawl arc Tcsp¢nsiblc for the prcparation of the finHn¢ial staiements and for being satisfied thai Ihty give 8 true and fair vicw, and for 5u¢h Internal conirol as the govcrttors detemiine is ncces5ary 10 enable thc prepar&lion uf fitjancial statements that are fr¢¢ from material mLSsEal¢￿elll. whether dut 10 fraud or error. In prcparin¥ the finan¢i81 statements, the governors are r¢$punstble for asgessing the charitable company's ability to conlinuc as a going concem, disclosing. as applicable, matters relaied to going concern and using the going concern basis Df Iccouniing unles5 the governors either in¢elld ¢0 liquid8(e Ihe charilablc company or lo cease uperation5. or have no realistic aliernaiive but lo do 50. Audlior'J Tespon$lbllltlei for the audlt of the tlngn¢lAI stAt¢m¢nti Our objc¢iivcq ore iu obtain reasonable assur4Lnce About whether the finanLial 8latctncnts 2$ 2 whole are trec Irom rnAtcri81 mis51Atemenl, whether duc ￿ fraud OT e￿Or, gnd io issue an audiloT'S rcpori thal Tnclud¢s our opinion. Reasonablc a5SUT2n¢¢ is a hJBh level of8ssurance. bul is not a guaranlec th81 an audit conducted in accordance with ISAS IUKI will always detect tnzi¢rial rnissl8iemenl whcn it CKj515. Mi¥siai¢m¢nis ¢UD arise from Iraud or error and are considercd mal¢rial ir, individually or in the aggregate. they could redsonably be expecied to intlucncc ihe economic dcci5ions uf u5rr$ taken on the basis of thcsc finan¢ial siAtements. Irrcgulariiie5. includin8 fvaud, are Instanccs of noll-¢ompliance with law5 and re¥ulalion5. W¢ d¢si8n procedui'cs in line wilh our responsibilities, outlined above, to delect rnaterial mi.sstaiements in rc5pecl of irregulariiies, includin8 fraud. The cxl¢nl lu which our procedures are capable uf deieciing itT¢gulariiies, including fraud 15 d¢iail¢d below.. BAsed on our undcr51anding of the chaiithbl¢ company and rhe environmeni in which IL operalcs, we idEntified that the principal risks of non-compliance with laws and regulations relaied to Th¢ EducatLtsrt Iltjdependeni SL'hool Siandardsl Regula(ion 2014. 5afcguardin¥ regulations, health and safely law, GDPR and ernployment law and wc considered the extent io whtch non-compliancc might have J material effect on Ihc financial staiemenis. Wc a150 considered th05¢ laws and regulEiions that havc a dirccl impaci on the pr¢paraiion of the finAncial s¢8t¢ments such as the Comp4niEs A¢t 2006, the Charities Act 2011. &nd puyroll lax. Weevaluutcd man#gem¢Thi'$ inceniives and opportunitics for fTtuduleni m8nipulation of Ihc financial siatern¢nt5 (including the risk oloverride of contrDisl, and detemiined that the prinGipal nsks were relaicd to p05ting Inappropridtejoumal entries to rcvenue and Tnanagement bia5 in accounting esliTnAtes. Audii PTo¢edurcs pcrforncd by the rn8agemeni ieam includcd.. Discu5SiOIIS Wlth manag¢ment includin8 con5idcralion ofknown or suspected instancc5 of non.cotnpliancc with law5 and regulation and fraud.. Evaluatln8 managemcnt'5 controls dcsi8ned to prevent and derect iTregularitl65- Identifyin8 and tcsting joumals, and Challeuglng assumpiioThs and jud8Ctncn¢8 made by mandg¢m¢ni irk their aLcounting cs¢imaies. 14 TIWE INDEPENDEIYf AUDITOR'S REPORT TO THE MEMBERS OF BEACONSFIELD EDUCATIONAL TRUST LIMITED B¢¢au5¢ 01 the inhereni limitations of an audil tILere 55 a risk that we will not dEie¢i all itrEgularities. including those leading to a rnateriJl mis5taternent in the finarcial 5ts1ements or non-coTnplian¢¢ with reglllation. This risk Lncreases the more thai compliancc wilh a law or rcgulalion 1$ removcd from the evcnls ènd rransaetiors reflected in the financial statements, as wc will b¢ les5 likely lo become aware of inslanres of UOD-compliance. The risk is also greaier regarding ijT¢gulantics occumng due 10 fraud rdthcr than Error. as fraud involves illtentional eoncealmcnt, forgery, collu5iOn, omi5slon or rniSTcpres¢ni8tion. A furthcT description of OUT Te5ponsibilities for the audit of the financial 5t8tcmcnts 15 locatcd on the FIT￿n(la1 Reporting Council's wcbsitc ai.. W￿¥.fr¢.Org.uk1audlt0rSr¢sPQi1s1b)I1T1tS This d¢scription foTrnS part of our auditor's reFth. Use ofour report This report is made solcly to the charitable cornpany's rnembers, as a body. ity a¢cordance wilh Chapter 3 of Part 16 of thc Companies Act 2006. Our audit work has been undertaken so Ihai we mighL Stale to the charitable compllny'5 m¢mbErs those m&tters we arc required 10 STAte to Ih¢m m an AuditOT'S rcport and for no other pwpose. To the fullest extenl PCTmitted by law, we do ftoi accept orassumc responsibiliry to anyone other than the charitablc company and the charitable company's members 83 & body. for oui audit work, for this rep(trt, or for th¢ opinions we have fornied. LX Tr•cey Young Isenior Statutory Auditor) For and on behAlf of H*y5rn1clntyre LLP, Stituiory Audltor 10 Queen Street Place London EC4R IAG Dgte: 21.3.24 15 fAuE BEACONSFIELD EDUCATIONAL TRUST LIMITED STATEMEprf OF FINANCIAL ACTIVJTTES FOR THE YEAR ENDED 31 AUGUST 2023 UnTCStricted Fund5 Re$trl¢t¢d FllDd5 2023 Totil 21122 Total Notes IIYCOME FROM.. Charltable 4¢tlvlll¢s'. School fees Other Income Other tradlng actlvltleg". Non-)Dcillary trading a¢iivitl¢5 Voluni#ry $oyr¢¢s'. Dop&lion$ Graot8 5,594,030 224.007 5.594,030 224.007 5.368.805 150,518 100,431 l (M),431 95.365 2.268 4.439 6.707 73,646 TOTAL IT4COME 5.920.736 4.439 5,925.175 5.688.334 EXPENDTTURE ON: Ril$lnK fundi". Financing ¢0s1S 162.160 162.160 87,599 ChirltAble 4cttvltl¥s'. Education 5,569,315 5,580,925 5.271.042 TOTAL EXPENDITURE 5,731,475 5,743,085 5.358,641 r4ET MOVEMENT IN FUNDS 189.261 182,090 329.693 Fund ballln¢es brough¢ forward 7,030,488 67.925 7,098,413 6,768.720 Fund baloncrb ¢2Jri¢d fotward £7,219.749 L60.754 £ 7,280,503 £7.098,413 All income and cxpenditurc derive from Continuing activities. Comparative mov¢tnerti In r¢stri¢t¢d and unrestricted funds are shown itt Note 20. Thc notc5 OD pAges 20 to 29 lomi part of these financial 8tAtEmenis. 16 BEACONSFIELD EDUCATIONAL TRUST LIMITED Cofflpany Nurnber.. QQ717500 BALANCE SHEET AS AT31 AUGUST 2023 21123 2022 FIXED ASSETS Tangiblc asscL 9,869,746 10.017.233 CURRENT ASSETS Stock Debiors Cash and bank 10 1.709 74.702 2.531.660 1.709 86,647 2,098.403 2.608,071 2,186.759 CREDITORS- Due wiihin one year 12 12,092,245) 11.689,9961 NET CURRENT ASSETS 515,826 496,763 TOTAL ASSET5 LESS CURRENT LIABILITIES 10,385,572 10.513.996 CREDITORS- Due after more than oue year 13 13, IOS,0691 13.415.583) iYET ASSETS £7,280.503 £7,OY8.413 FUNDS AND CAPITAL Restricted funds Unrc51rictcd funds 16117 16117 60,754 7,219,749 67,925 7.030.488 TOTAL FUIYDS £7.280,503 £7.098.413 The fi signc n¢ial 5taiement$ were approved and auihuris¢d for issue by the Bojrd of Govlrnors ¢)n 13 March 2024 Bnd were elow on lis behalf by.. Ed Chair ds The notes on pa¥¢5 20 to 29 forn part of these financial 51alemenis. 17 fAuÉ BEACONSFIELD EDUCATIONAL TRUST LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Net e4Jh provlded by operltlng aetlvld 984.824 748.364 Cash flows from InveS￿llg ietlvltle$ Inirresi paid FILrchase of tangible fixed assets 1162,1601 1262,1511 187.5991 1491,3431 Net cHsh used In Investlng a¢tlvld¢i 1424,3111 1578,942) Cgsh flov¥J from flThanclni ictlvltlt5 Loans repaid 1127,2571 1196.0601 Net casb u5td In flnHncln8 8etlvldes (127,257) 1196.0601 ChAn8e In raih Albd cish equlvalents In ye&T 433.257 (26,6381 Cash and cash equivalenis al I Scptcrnber 2022 2.098,403 2,125,041 C*sh and egjh equlvalents •t 31 August 2023 £2.531.660 £2,098.403 18 TRLE BEACONSFIELD EDUCATIONAL TRUST LIMITED NOTES TO THE ST ATEmETr￿ OF CASH FLOWS FOR THE YEAR ENDED 11 AUGUST 2023 2023 2022 Reconclll¥tlon of D¢t rnovement In fU￿￿S to n¢t eash flow from operations N¢t m•vement in funds Elimination of non-operaiing cashflows= - Fmancing cosis Depreciation charge Dccreasrllncrcasc in dcbtors Incrcaselldc¢rell5r) tn crcdiiors 182,090 329.693 162.160 409,637 11,946 218,991 87,599 399.153 156.8521 802,734 418.671 Nei ei$h provlded by optr*don8 £ 984,824 £748.364 ADAlyJl3 of net debt At I Sepiember 21J22 At 31 Au¥ust 2023 Other Ch&nges CA$hfloY45 Caih and ea8h equlv*ltnt8 Cash 2,098.403 433.257 2,531,660 Borrowlny Drbi due within une ycar Debi due atl¢r onc year 1289,4191 12.865,765) 127.257 {127,2561 127,256 1289,4181 12,738,509) 13.155,1841 127,257 13.027,9271 Total 11,056,781) 560.514 1496,2671 19 TR￿E BEACONSFIELD EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR EiYDED 31 AUGUST 2023 ACCOUNTING POLICIES G¢neral Vnformgtio Beaconsfield Educatioual Trust Limiied is a Public Benefjt Entity re¥isieTed as a charity in England snd Wales and a company limited by guaTant¢¢. It was Lncorporated on 21 F¢bNary 1962 (company nuTllber.. 007175001 and re8lStered as a charity on 16 July 1962 l¢harity number.. 313120). B*s18 of Preparatlon The accounts have been prepared on historical ¢¢s¢ ¢onveDtioft and in aecordancc with the Financial Rcporting Siand4rd applicabl¢ in the UK and Republic ofircland IFRS 1021. the Companies Aci 2006 and the Stalcm¢nt of Rccotnrn¢nded Practice on Aecounting and Reporting by Charitle5.' the CILaTi11¢5 SORP IFRS 102) - effective I Jdnuary 2019. The following accountin￿ policies havc been appli¢d ¢onsi8iently in dealing wilh it¢mJ whieh arc considered maierial in relation io thc School'5 financi&l siatements. bl olng concern Duiing & lime olUK economic flu¢tuaiions, Ihe finances of Daveni¢$ have becn Tobusily rnttnaged lo ensure Ihe school remain5 a going con¢em. A detailed budget process ea¢h year ensures any future c05t increa%es are mtiigated Ihrough fec5 ondlor rosi cuirinss in advancc of such incrcases. Ternly rsforeLasts ensure we Ihe conljliue lo manage finan¢¢s robustly Ihroughoui Lhe year, allowing early warnin8 Sl8ns (o casily be flagged. Ftsllowing the ouibreak of the Ukrainian War in early 2002 and the subsequent energy Price increase5, (he school have managed costs ovcr rhe la51 year by &¢iiill8 appropriate fce in¥rease$ and freezing budgcrs whcr¢ possible mcanin8 a healthy opcrllting PTOtit mectin8 all covenants has b¢en re¢Jined. Forec&yliiig is dorLC un & coniinuous basis. LookinB forward over 5 year5 Wlth dnd takin¥ &vrraye assumpiions On fce increases artd ¢o.%i In¢T¢ases, the Governors are happy that the school can conliftu¢ as going Lonccrn and ctsntinue 10 rncBt It5 covcnanis. The bi88C51 risk lo ind¢pendeni schools currently is the poi¢ntial iniroduciion of VAT Dn school fees under & new Labour Govtrnmerti. Significani 8mounts of robust finanLi&l mudelling h8s bcen done in Ihis area, coverin¥ a ran¥L ofouicomcs and possibtliiLC5 allowing confid¢nce io the abiliry iu Lontinuc Ic operate in a p05t VA T enviTonmenl. As a resuli of Ihc action taken and the robu5tnc55 of th¢ rndna8ement ol. Ihc school lin8n¢¢s over thc course orth¢ ycar, and 5inc¢. the Governors considcr Ihcrc lo be no maiErial unceriainiic5 rrlaiing to golng ¢oncem and Ihcrcfore consider ii appropriate ¢0 ¢oniinu¢ lo adopL the ￿oIng conr¢Tn basis in prcpJring Ihc finarlcial staiemeni$. The Govcrnors bclicvc the disclosurts in thc financial statements are both appropriAte os well as Inle and fair. School fe¢J Fees re¢eivableand charge5 fvrservices and ube of the premises. Ic55 8ny allowanceB. scholaT5hips. burmries gtOYJted by the S¢hool a8ainsl thosc fee5, but including ¢Dnrribuiions Teccivcd froTD r¢siricied fi]nd8, accounted for in the period in which Lhe 5erviee is provided. d) Other Income These source5 of incomc are included in the accounts whcn thcy become receivable and their value can be me4sured with reasunable ccrtainty. Donations, le%4cles gr*nts find other voluntary Income Voluniary incotne 15 acGouni¢d for a5 and when entttlcment atises, the arnouni can bc r¢liably quantiFJed and the economic benefit to the SchiK)l is considercd probabl¢. Voluntary income for Ihc School's general pury>oses is accounted for as unresiricted and 15 credited to the General Fund. Where ¢h¢ donor OT an appeal ha5 irnposed re$tri¢tions, voluntary income is credited io th¢ rElevaThi re8trictcd fund. 20 BEACONSFIELD EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS (CODtinuedl FOR THE YEAR ENDED 31 AUGUST 2023 Expendlture Exp¢ndiwre is accrued for Ès soon as a liability is ¢onsideT¢d ptobablt, discollnied 10 present value for lon8 tern) RaL5illg fvnds comprise eosts associaied with financing. Charitable activity ¢QSts reptesent ¢¢sts diTe¢tly 8ssociat¢d with the provision of education and relatrd support costs. Govcmance ¢osts ¢ompns¢ the ro$ts of running Ihc Gharity, inGluding strate8ic plannin8 for ILS ￿ture devcloprnenL ¢xlem81 audi¢, ally legal adviu for the School's G¢vemors. and 811 th¢ costs of iomplying with constitutional and statutory r¢quir¢m¢nis, 8uch as the ¢osis of B¢ard and Committee meeiings and ot'preparing ststt]tory aecounts and satisfyin8 public accouniability. Irrecoverablc VAT 15 Lncluded with the itcms of expenditure to which it relltes. 13) Pen51on Costs Reiiremettt benefifs 10 employer5 of Ihe School providcd through hvo pension s¢h¢m¢s. The pension cost ¢harged in the Siatemeni of Financial Aciiviiies ire de*rrnined as follows.. {131 The defined pension contribution Scheme wlth Aviva Is open to all Teaching Staff. For all non-teachinglsupport Staff a scheme through Royal Londonls made available. Ibl Other pension costs charged in the accounis for defincd contributton schemes represent the contribuiions payable by the School during the year. 131 Depreclatlon D¢preciatTon is provided on fixed a5%1S ¢0 wrilc off Ihcir r051 Icss Tcsidual valu¢s over ¢siim&ted LL4efiJl live6 to ¢hr Srhool at the following raics.. Freehold building Furniture. fiiiings and cquiprncnl Moror vehicles artd garden equipmertt 2Yo on cosl l(W/o- 30./0 on cost 20010 on co8l The capit21isation limit for Ihe School 1$ sei ai £500. 131 Sto¢k All stock is Statcd at Ihe lower of e05t and net realisable valuc aftcr making due allowance for obsolctc and slow- movin8 srocks. J) Debtors Trade and othcr debtors arc recogniscd at the Settl￿ellt amount duc aftcr any di5count5 0ffErcd. Prcpaymcnt5 Err V21ued ot the arnounl prepaid net of any di5counis due. k) Cash And bank Cash at bank and cash in hand includes cash and short iern) highly liquid inve5Thcnt5 wilh a short maturity of threc onths or le55 from the date of acqui51tion or opening of the deposit or Similar account. Creditors and Provlslons Creditors and provisions are recognised where rhe School has a present obligation rc5ulting from a p85t event that will Probably result in Ibe tra￿s[Cr of fund5 to a third party and th¢ amouni due to settle th¢ obligation Can be 21 TAUE BEACOliSFtELD EDUCATIOYAL TRUST LIMITED PIOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 AUGUST 2023 tnea5urtd or estimated ieliably. CT¢ditor$ 2nd provisions are no[￿allY r¢cogniscd at their 5cltlcmcnl amount aftrr allowittB for any discounts duc. FSnÈn¢ial Instruments The School only has fLlloJL¢ial sssets and financial liabilities of a kind that qualify a$ basic financial instrum¢nts. Basic financial instrurn¢n15 ar¢ initially reco￿l$ed at transaction value And subsequenily meB5ur¢d at their 82ltlement value. Fund5 Unre51r]c￿d funds comprise &¢cumulatcd surpluses bnd deficits on gcneral fvnds. Thw Qre available for use al th¢ di5crction of th¢ Govemors in fi]rthcran¢e of the generni charitablc objectives. Rcstricted are fi]nds which arc to bc u5cd in accordance with specifi¢ resmciions imposed by thc donor Iscc nolc Judgtments 4pplylng 4c￿e$ SurLal $ecuriry costs Pension 2,659,961 269,631 652,772 2.460.300 251,616 633.364 3,582,364 3.345.280 Tbe number of ¢mployees whose emvlutnents for the year fell wiihin thc follvwirJ¥ bands were". Number Nymber £60.001 £70,000 £70.1)01 £80,000 £120.001 £130,000 £130.001 £140,000 Pension contributions for the above employe¢3 atnout2t¢d to £54,696 {2022.. £50.5671. The total amouni paid to key managemen¢ p¢rsonn¢l in lh¢ year tolalled £777.14612022.. £822 .3591. The averagc nurnbeT of Employees duriny the year was 8012022.. 781. 24 TA BEACONSFIELD EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS (continued) FOR THE YEAR EP4DED 31 AUGUST 2023 STAFF COSTS Icontinuedl 2023 No 2022 The fvll time equivalent number of employec$ in ihc ye&T wa5-. Teachers Teaching SupporL Support Sta(T 40 21 21 80 78 PENSION SCHEMES The School operALe8 & defined conlribuiion scheTllC for teaching 51atY, run by Aviva, The 8ss¢ts of the scheme are held separately from those of Ihe School in an independently adminis[e￿d fund. The pension char&t represenis ontribuiion5 payable by the School 10 the fund and 8mounted 10 1524,68112022.. £542,3431. Contribuiions ￿MIlin8 £238,003 were payable to Ihe al the balancc sheet dalc and are included within CTcditor%12(J22.. £43,013). The School operates a defined Contribution s¢hemt for non-teaching staff, n]n by ROY￿ London. Th¢ assets of the schcmc arc held separately from those of the School in an indcpcndently adtninisteied fund. The p¢nbion charge reprcscn15 contributions payabl¢ by Ihe School lo lh¢ fund and am(Funied 10 £128.090 12022., £91,021). Contributions Ioiiilling £1 0,670 wcrc payable to the fund ai the balance sheet dare and are includcd within CTcditors 1202?: £10.3441. FIXED ASSETS Freehold Land and Bulldlng Other Flxed Assets Motor Vehlclu TotAI COST Al I Sepiember 2022 Additions 13,020,070 43,717 65.238 2.722,066 218.434 15,807.374 262.151 Ai 31 August 2023 13,063,787 65,238 2,940.500 16,069,525 DEPRECIA TIOIN Ai I September 1022 ChAfBe for th¢ yrar 3.762,991 258.684 65,238 1.961.912 15U.953 5,79Q,141 409,637 At 31 Au8usI 2023 4,021,675 65,238 2,112,865 6,199,778 NET BOOK VALUE At 31 Au8u512023 £9,042,112 £827,634 £9,869.746 Al 3 1 August 2022 £9,257.079 £760,154 £10.017,233 25 BEACONSFIELD EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS {tontiDuedl FOR THE YEAR ENDED 31 AUGUST 2023 io. STOCK 2023 2022 Goods for re5al¢ £1,709 £1.709 DEB TORS 2023 2022 Fee debiors Other debtors Prepayment8 and accrutd in¢om¢ 14.791 22.525 37.386 635 59,758 26.254 £74.702 £86,647 12. CREDITORS- du¢ within one ytAr 2023 2021 Bank loan Trade creditors Accruals 2nd deferred income F¢es re¥¢iv¢d in advance Deposits from parcnis Other creditors 289.418 207.967 1.076,645 191.052 71,500 255,663 289.419 56,528 990.162 275.428 67.200 11.259 £2,092,245 £1.689,996 The bank loan is secured on the freehold property. 13. CREDITORS- due after more th*n one yÈ8r 2023 2022 Bank luan Deposits frorn parcn15 Fee5 in adv8n¢e 2,738,509 143,799 222,761 2,865,765 138.599 E3,105.069 £3,415,583 An*lyil$ of bank lo•n$: Amounts falling dur". Bctween one and Mo years B¢twe¢n hvo and five years After fiv¢ ye8rs 289,418 1,157,672 1,291,419 289,419 ,157,676 .418,670 £2,738,509 £2,865.765 Th¢ bat)k facility, comprising a busines5 le￿￿ loan of £3.027.926 {2022. £3.155.1841. is secured by a first legal charge ovcr the freehold land and buildings at Beacon5field Educational Trnst Limited. The loan is repayable over 17 years and 6 months lollowing a capithl holiday period of18 months from Dccember 2014, with iiiiercst chaT8cd at 2.35D/o p.a. above the bas¢ r81e. 26 BEAC0Tr4SFIELD EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS (co￿tinUed) FOR THE YEAR ENDED 31 AUGUST 2023 13. CREDITORS- due ifttr more than oue year (continued) Fee$ Irb advinct seheme: Parents may enter a contract io pay the school fees in advonce. The origin&l scheme wss closed during the financial year 10 new dtPDsilS fiom mid-stptember 2022 and subsequently a new scheme was Telaunched after thc end of the finantial yrar, in January 2024. Th¢ monty may be reDarned subject 10 spccifir conditions on Ihc re¢eipl of on¢ r¢mi's noii¢e. Assuming pupils will remain in rhc School, fces will be applied as follow5.' 2023 2U2Z Amounts falling due.. Between onc atld two year5 Bernween two and five years 113.835 108,926 275.428 135,791 222,761 411.219 Within one year 191.052 275,428 £413.813 £686,647 Svmmary of movements ID IIAblllty Bdlance at I September 2022 New contracL8 Amounts used ￿ pay fee$ Rrpaid in ycar 686,647 22,500 {295,3341 B*l&nce It JI August 2023 £413,813 14. DEFERRED INCOME The balanee represents the income received for Auttlmn 2023 fees. The rnovements during the yw wer¢.. 2023 2022 Brought forward Amounts re¢¢ived in the year Amounts uiili5¢d in ihe y¢8r 718.590 976.068 1718,5901 844.019 718,590 1844,0191 Carried fonvard £976.068 £718,590 15. TAXA TJON Thc School 15 a r￿Istered charity and no taxation is payable on ils incom¢. 27 BEACONSFIELD EDUCATIONAL TRUST LIMITED P40TES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 AUGUST 2023 16. MOVEMEYT IN FUNDS Bglgnte #t I September 2022 Balance at 31 August 2Q23 Income Expendlture Trgn&fer5 Restrlcted Bursary Fund 67,925 4.439 60.754 Unrestrlcted - General Fund Designalcd Bursary Fund 6,895.488 135,000 5,920,736 5,731.475 122.5001 22,5(K) 7.062.249 157,5QO 7,030,488 5,920,736 5,731.475 7,219,749 TOT AL FUNDS £7.098,413 5.925.175 5.743,085 £7,280,503 2022 MOVEMENT IN FUIYDS B8IAnce 8t I Septernber 2021 B4lATh¢e it 31 August 2022 Incornt Expendltvrt Transfers R¢strlct¢d - Bursary Fund 75.285 7.991 15,351 67,925 Unrtstrlcted GenLral Fund - D¢signated Bursary Fund 6,580,935 112.500 5.680.343 5,343.290 122.5001 22.5(X) 6.895,488 135,000 6,693,435 5.680,343 5.343.290 7.030,488 TOTAL FUNDS £6,768,720 £5.688.334 £5,358,641 £7,098.413 Uiries17'icied Fuvdv The Unre$iricted General Fund represcnrs Ihc unre51ricted funds whirh lh¢ Governor5 are free lo usc in accordartce with the Ghaiilable obj¢cis. Th¢ Desi¥naled Bursary Fund represents funds 10 be used for the remission of fccs for f8mJlLes with short to medium tern2 fjnancial di￿lcUltIes. RE.IErieied BLirsttry' Fuiid Th< bursary Ajnd is used for the remission offecs for fatnilies WLth short iu medtum leThn financial ditTirul¢ics and to allow access io a Davcnics education It 15 very orra$ionally used io cover additional charges for boys In receipt of 8 means le51ed bursary such as residential trips. 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Total 2023 Unrutrlcted R¢$trlcted Tangible assets Curtent a5%ts Cutreni li&biliiie$ Long iemi liabililies 9,869,746 2,547,317 12,092,245) 13,105.0691 9.869.746 2.608.071 1?.092.2451 13,105,069) 60.754 £7,219.749 £60,754 £7.280.503 28 TR BEACONSFIELD EDUCATIONAL TRUST LIMITF.D NOTES TO THE ACCOUNTS (contlnued) FOR THE YEAR ENDED 31 AUGUST 2023 ANALYSIS OF NET ASSETS BETWEEN FUNDS- 2022 Toiil 2022 Unreslricted Restricted Tangible 8sse¢s Current assets Current liabilities Long ICTM liabiliites 10,017,233 2,118.834 11,689,996) 13,415,583) 10.017.233 2,186,759 11,689,996) 13.415,583) 67,925 £7,030,488 £67,925 £7,098,413 18. OTHER FINANCIAL COMMITMENTS Al 31 August 2023 Ih¢ School hod futurc minimurn lease payments under non-cancellable operating lease5 a5 follows.. PlaTht Ind mathlnery 2023 2022 Expiring wiihin one year Expiring bettveen and five ycars inLlusive 17,753 469,026 17,753 421,506 586.779 539,259 19. RELATED PARTY TRANSACTIONS One Governor had chilthn al ihc school12022= onc Governor)- All School fc¢s wue chargrd al arm's length. No fcc5 werc OUEStanding Ar the year end. Govcmor liability insuran¢r rxi5ts a5 Part of Ihc liability cover held by the Schovl for persons associaied with the School but the cost cannol be separAtely identificd. The Friends of Duvenic5. a rcgisicred Lharity 111675521 raises moncy thTou8hout the ytgr to support the school via donations for ¢quipmcnl lo the school. 29 BEACONSFIELD EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 31 AUGUST 1013 20. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES- 2022 Unrestrlcted Re$trl¢ted Funds 2022 Toial Note5 INCOME FROM: CharliAble icdvltles.. School fees Other income Other Ir8dlttg *ttlvlrfe$'. Non-ancillary tradin8 aciivitiC5 Vol￿￿[￿ry ￿Ure¢s.. Donations 5,368,805 150,518 5.368,805 150.518 95,365 95.365 65.655 7.991 73.646 TOTAL INCOME 5,680,343 7,991 5,688.334 EXPENDITURE ON: R&lglng funds.. Financin8 C051s 87.599 87,599 Ch*rltAble ActiYltleJ'. Educ81ion 5.255.691 15,351 5.271.042 TOTAL EXPENDITURE 5,343.290 5,358.641 NET MOVEMENT IN FUNDS 337,053 17,3601 329,693 Futld balan¢¢s brought fotivard 6,693.435 75,285 6,768,720 Fund balances carried forward £7.030.488 £67.925 £7,098,413 30 TRUE