COMPANY REGISTRATION NUMBER: 00890301 CHARITY REGISTRATION NUMBER: 313688 Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Unaudited independently examined accounts 31 August 2024 Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Financial statements Year ended 31 August 2024 Page Trustees, annual report (incorporating the directors, report) Independent examiners report to the trustees Statement of financial activities (including income and expenditure account) Balance sheet Notes to the financial statements Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) Year ended 31 August 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2024. The financial statements have been prepa￿d in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Reference and administrative details Reglstered charity name Support and Training in Prep, Primary and Senior Schools Limited Charity registration number 313688 Company registration number 00890301 Principal office and registered office 7 Lakeside Overstone Park Northampton NN6 OQS The trustees The trustees who seNed during the year and at the date of approval were as follows.. D Kendall (Chaiman) P Baker R Barnes B Marshall B Moir B Mono (Appoinled 01102120241 l Morris (Appointed 0110212024) M Templeman (Appointed 01102120241 T Vvheeler {Appointed 0110212024) G Whitaker (Appointed 0110212024) E Goudbourn (Resigned 2811112023) P Mason (Resigned 2811112023) M Middleton (Resigned 2811112023) President R Tovey MBE Vice presidents T Mulryne Company secretary P Jackson Independent examiner L Thurston FCCA Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) (continued) Year ended 31 August 2024 Objectives and activities The charity's stated objectives per the goveming document are 'to advance education, especially as affecting primary schools by holding conferences, meetings and competitions at national and local level,, The principal activities of the company are to improve standards of teaching by sharing best practice and training of staff (including the holding of training seminars for staffj working in independent preparatory and other schools, publication of subject broadsheets each term, maintenance of the Society's website and the organising of Ihe General Knowledge Challenge, Handwriting, Poetry, and other events involving the pupils. Fees paid are minimal and are only to cover costs of such training. The Trustees have considered the Charity Commissions guidance on public benefit when setting the objectives for the year. The Trustees confirm that they have complied with the duty in section 4 of the Chartties Act 2011. Mission statement Support and Training in Prep. Primary and Senior Schools Limited (SATIPS} is dedicated to providing information on best practice directly to its members, delivering the best personal development courses and commissioning research to provide detailed infomiation on how teaching can become even better. Achievements and performance For the year ended 31 August 2024 the Charity remained busy in its core activities which were well received. There were a significant number of training courses that were presenled in the fom of Webinars. These proved to be popular and attracted a large number of delegates from member schools. It is anticipated that there will be a further increase in the number of training courses slaged in future years. Broadsheet distribution is both electronic and in magazine form, in response to demand from members. Financial review Income from all sources amounted to £95,829 {2023'. £101,091) for the year_ Expenditure amounted to £96.697 {2023= £87,074) giving rise to a net deficit for the year of £868 12023.. Surplus of £14,017). Cash balances have remained stable at £90,195 12023.. £90,607). Total funds carried forward for the year amounted to £88,605 (2023.. £89,473) This was primarily as a result of increased costs of producing and printing educational instruction resources and a reduction in conference and courses income due to to fewer courses being staged. The principal funding sources are members, subscriptions, Conferen￿ and course income and challengelcompetition income. Reserves policy and going concern All funds held by the organisation are free from restriction and are available for Trustees to apply to the charitable purposes of the organisation. It is the Trustees, aim to maintain reserves at a reasonable level to ensure the long-term financial security of the organisation, which is believed to be in the region of three months expenditure. B*ed on the perfomance of the year this would equate to £24,174 (2023: £21,769). The reserves at the y¥r end of £88,605 {2023'. £89.473) are in excess of this. The Board of Trustees have considered the health of the balance sheet and the budget for the forthcoming period in reaching the conclusion thal it is appropriate to prepare the accounts on the goH)g concem basis. Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) (continued) Year ended 31 August 2024 Financial review (continued) Plans for the future The Charity's aims for the future are to increase membership and to improve the resources available to members as well as improving the access and availability of resources to members. Structure, governance and management Governing document Support and Training in Prep, Primary and Senior Schools Limited, known locally and throughout these accounts as SATIPS, is controlled by its governing document, a deed of trust, its Memorandum and Articles of Association. and constitute5 a limited company, limited by guarantee and as such has no share capital, as defined by the Companies Act 2006. The company was incorporated on 24 October 1966 under the company registration number 00890301. Council of members The goveming body of the company is the Council of Members, who are also its directors and Charity Trustees. Appointment and removal of directors is governed by the Articles of Association and the Companies Act 2006. The charity is managed by the following officers.. General Secretary Director of Finance Director of Education Director of Communications The full Council meet formally 3 times per year and have infomial discussions throughout the year. Recruitment and appointment of Trustees Trustee candidates are selected by the Current board of Tnjstees with the aim to enhance the skills and experience of the board as a whole. Potential Trustees are then inteNiewed by the Chairman and invited to attend a board meeting to assess whether the individual is the correct'fit, for the charity. Trustee induction and training Following their invitation to join the board, Trustees have meetings with the directors to induct and train them into the business activities of the Charity. Once appointed, Trustees are provided with all the informats'on required to assist them in performing their role as a Trustee. This information covers all aspects of the organisation. Risk management The Trustees have considered the major risks to which the Charity is exposed. have reviewed them. and consider thal suitable systems are in place to mitigate those risks. Risks that are being faced by the Charity are these such as the writer5 of the Broadsheets (training documentation) being volunteers therefore would cost the Charity more money if they were to resign. The Charity would face the general risk of course rnaterial being delivered to be kept up to date and therefore relevant to the public. Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Trustees. annual report (incorporating the directors, report) (continued) Year ended 31 August 2024 Structure, governance and management (continued) Independent examlner reappointment A resolution to appoint L Thurston ACCA of Lovewell Blake LLP as independent examiner will be proposed at the next Annual General Meeting. Small company provisions This report has been prepared taking advantage of the small companies, exemption of section 415A of the Companies Act 2006. The trustees, annual repart was approved on trustees by.. and signed on behalf of the board of D Kendall ( Trustee Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Independent examiner's report to the trustees of Support and Training in Prep, Primary and Senior Schools Limited Year ended 31 August 2024 I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 August 2024 which comprise the statement of financial activities (including income and expenditure account), balance sheet and the related notes. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wth the requirements of the Companies Act 2006 {'the 2006 Act.). Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's financial statements as carried out under seclion 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection wilh the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act, or the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper underslanding of the accounts to be reached. L Thurston FCCA Independent Examiner Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Statement of financial activities (including income and expenditure account) Year ended 31 August 2024 2024 Unrestricted funds Total funds 2023 Total funds Note Income and endowments Charitable activities Investment income 92,892 2.937 92,892 2,937 99,969 1,122 Total income 95.829 95,829 101,091 Expenditure Charitable activities 96.697 96,697 87,074 Total expenditure 96.697 96,697 87,074 Net (expenditure)lincome and net movement in funds (868) (868) 14,017 Reconciliation of funds Total funds brought fO￿ard Total funds carried foThvard 89,473 89,473 75,456 88,605 88,605 89,473 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 11 form part of these financial ¥tatements. Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Balance sheet 31 August 2024 2024 2023 Note Current assets Cash at bank and in hand 90,195 90,607 Creditors: Amounts falllng due within one year 10 (1.590) (1,134) Net current assets 88,605 89,473 Total assets less current liabilities 88.605 89,473 Net assets 88,605 89,473 Funds of the charity Unrestricted funds 88,605 89,473 Total charity funds 12 88,605 89,473 For the year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476-, The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. Thes nanci statements were approved by the board of trustees and authorised for issue on and e signed on behalf of the board by.. D Kendall (Chai Trustee an) Company registration number. 00890301 The notes on pages 8 to 11 form p¥t of these financial statethents. Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Notes to the financial ststements Year ended 31 August 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 7 Lakeside, Overstone Park, Northampton, NN6 OQS. statement of compliance The charity constitutes a public benefil entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the Uniled Kingdom and Republic of Ireland {FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. Accounting policies Basis of preparation The financial statement5 have been prepared on the historical cost basi5. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The accounts have been prepared on the going concern basis and the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and olher factors, including expectations of future events that are belièved to be reasonable under the circumstances. The Trustees have considered that there are no critical accounting estimates or critical areas of judgement to disclose within these financial statements. Income tax As a registered charitable company, the activities are exempt from United Kingdom Income and Corporation taxation. provided that the income is applied to charitable purposes. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 August 2024 Accounting policies (continued) Fund accountlng (continued) Designated funds where applicable, are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds where applicable, are subjected to restrictions on their expenditure declared by the donor. Income All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Income re￿iVed by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when the recognition criteria is met. Income from trading activities includes income eamed from fundraising evenls and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All costs are allocated be￿en expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of resources. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Limited by guarantee The charity is a company limited by guarantee. None of the Trustees have a beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 August 2024 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Members, subscriptions Conference and courses income Challenge and competition income 62,246 12,637 18,009 62,246 12,637 18,009 66,204 16,009 17,756 66,204 16.009 17,756 92,892 92,892 99,969 99.969 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest 2,937 2,937 1,122 1,122 Expenditure on charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Publications Conferences and courses Challenge and competition expenses Council and education expenses Employers, and public liability insurance Telephone and postage Independent examination fees Website and email costs Course director Honoraria Administration costs 48,488 8,309 3,421 204 358 428 1,446 659 1,400 24,505 7,479 48.488 8.309 3,421 204 358 428 1,446 659 1,400 24,505 7,479 43,133 9,580 4,594 288 342 319 1,194 579 1.650 18,538 6,857 43,133 9,580 4,594 288 342 319 1,194 579 1,650 18,538 6,857 96,697 96,697 87,074 87.074 Staff costs The average head count of employees during the year was Nil {2023'. Nill. No employee received employee benefits of more than £60,000 during the year (2023.. £Nil). Trustee remuneration and expenses B Marshall received remuneration from the charity for administration services totalling £1,400 (2023.. £1,650). This is outside the scope of B Marshall's position as Trustee. Two (2023.. Two) of the Trustees received reimbursed expenses in the year totalling £91 {2023: £172) in respect of travel, subsistence and course fees. 10 Support and Training in Prep, Primary and Senior Schools Limited Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 August 2024 10. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 1,590 1,134 11. Deferred Income Deferred income relates to conditional charitable activities income received in advance. Deferred income of £Nil was brought fotward and released in the year, with £300 being deferred and carried forward into the year ended 31 August 2025. 12. Analysis of charitable funds Balance at 1 September 2023 Balance at 31 August 2024 Income Expenditure Transfers Unrestricted funds General funds 89,473 95,829 196,697) 88,605 Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Transfers Unrestricted funds General funds 75,456 101,091 (87,074) 89,473 13. Analysis of net assets between funds As at 31 August 2024 Unrestricted Total Funds Funds 2024 Current assets 88,605 88.605 Net assets 88,605 88,605 As at 31 August 2023 Unrestricted Total Funds Funds 2023 Current assets 89,473 89,473 Net assets 89,473 89,473 14. Related parties There were no felated paty transactions, other than those disclosed elsewhere in these accounts, during either this or the previous year. 11