Charity registration number 505310 (England and Wales)
Company registration number 01260765
CARLETON HOUSE PREPARATORY SCHOOL
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Carleton House
Prepiratory School
• xeinadin

CARLETON HOUSE PREPARATORY SCHOOL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
L Morrison Chair of Trustees
J P Burns
E Czarnecki
C M Harrison
S M Hegarty
C B Holguin
T Manning
J A Robinson
(Appointed 11 September
2023)
Senior management
S Coleman
C Griffies
R Mumbengegwi
Headteacher
Deputy Headteacher
School Business Manager
Charity number {England and Wales)
505310
Company number
01260765
Reglstered office
145 Menlove Avenue
Liverpool
Merseyside
L183EE
Audltor
Xelnadin Audit Llmited
46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH415AR
Bankers
Na￿est
138 Allerton Road
Liverpool
Merseyside
L182JN

CARLETON HOUSE PREPARATORY SCHOOL
CONTENTS
Page
Trustees, report
statement of Trustees, responsibilities
Independent auditor's report
Slatement of financial activities
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13-24

CARLETON HOUSE PREPARATORY SCHOOL
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report and financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting
and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing iheir accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021"
Objectlves and activities
Carlelon House Preparatory School offers the full statutory primary curriculum. Pupils, allainmenl al the end of both
Key Stages is consislenlly well above the expected18vel of attainment nationally.
"Pupils develop excellent knowledge, skills and understanding across the curriculum due to the reflective learnlng
approachas they are taught from an early age.
ISI Report June 2022.
With small class sizes, highly experienced class teachers, ably supported by a dedicated leaching assistant in every
class, we ensure all children are supported lo reach their full polenlial. We employ specialist teachers of Spanish,
Physical Education and Computing to ensure our children are provided with an exGiling and engaging curriculum
taught by specialists.
The Head Teacher and all staff have supported the school and worked hard to maintain high school standards. The
Governing Body of the school is also actively involved in the oversight of the management of the school and in
setting new objectives for the school for the future. Carleton House provides equal opportunities for all staff and
pupils.
The school is committed to the safeguarding of children and ils policies and procedures reflect this. All policies and
procedures are updated as appropriate and arè availab18 at the school for inspection.
In setting the School's objectives, the Trustees have given considered Charity Commission's génèral guidance on
public benefits and in particular lo ils supplementary public benefit guidance on advancing education and on fee
charging.
Public benefit
The Trustees have paid du6 règard to guidance issued by the Charity Commission in deciding what activities the
charity should undertak&.
Achlevements and performance
SignifiGant activities and achi6vaments against objectives
Our most recent external ISI Educational Quality inspection judged both the achievement of our pupils, Including
their academic development and the personal development of the pupils to b8 &xcellenl - the highest possible
judgement. All regulatory requirements were met.
The majority of our pupils obtain their first choice preference at secondary school level. The places secured for
2023-2024 were as follows=
The Blue Coat School - 14pupils
Birkenhead School - 4 pupils
Liverpool College 2 pupils
Belvedere Academy- 1 pupil
St Julie's - 1 pupil
St Mary's College - 1 pupil
The achievement of our pupils are in measured in Stalulory Allainmenl Test (SAT) using a scaled score.

CARLETON HOUSE PREPARATORY SCHOOL
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Results for the academic year 2023-24
Key staga 1 {23 pupils)
Mathematics
960/0 of pupils met the required standard with scaled scores of 100 or more122 pupils).
Reading
910/0 of pupils mel the required standard with scaled scores of 100 or more {21 pupils).
Grammar, Punctuation and Spelling
910/0 of pupils mel the required standard with scaled scores of 100 or more {21 pupils).
Key stage 2123 pupils)
Malhemalics
100010 of pupils mel the required standard with scaled scores of 100 or more123 pupils).
780/0 of pupils exceeded the required standard with scaled scores of 110 or more (18 pupils).
Reading
100 /0 of pupils mel the required standard with scal8d scores of 100 or more123 pupils).
78 % of pupils exceeded the required standard with scaled scores of 110 or more {18 pupils).
Grammar, Punctuation and Spelling
1000/0 of pupils mel the requirèd standard with scaled scoras of 100 or rnore123 pupils).
96 /0 of pupils excèaded the rèquired standard with scal8d scores of 110 or mora {22 pupils).
Writing
1000/0 of pupils achieved the expected standard {23 pupils).
52 % of pupils were assessed at working at greater depth112 pupils).
Our SATS scores show that our children continue to perform well above national average in all subjects.
Our children benefit from the exciting experience of residential trips starting in Year 3 through to year 6. These
immersive experiences lake our children out of their comfort zonés and immersè them in natur6, where they face
hallenges, develop resi5i8nce, and acquire vital life skills. During these adventures, children learn to work together,
communicate effectively, and solve problems in unfamiliar settings, fostering leadership and teamwork capabilities.
In Carfeton House all pupils are given the opportunity to fully develop their musical talents. Our specialist curriculum
music teacher provides lessons across the school from Nursery to Year 6. Children are taught to sing, to create and
compose music, to perfomi and lo listen to and evaluate music. They are given the opportunity and confidence to
become musicians.
Our strong ongoing partnership with outside music company Pulse, has ensured all pupils in Key Stage 2 are given
the opportunity learn a musical instrument, laught weekly by experienced music teachers. Our children progress to
grade exams and lake part in Christmas and summer concerts for our families. Many of our children go on to
achieve music scholarships at local secondary schools of their choice.
Our exceptionally talented choir are invited to perform al a range of different festivals and events throughout the
school year, the highlight being a Christmas performance al the Liverpool Melropolilan Cathedral. The school
provides an extensive range of extra-curricular clubs including debating, first aid, dance, judo, chess and a wide
variety of sports clubs.
Sport helps children to remain healthy, develop leadership skills and understand the value of teamwork and co-
operation. We have 8 dedicated specialist PE teacher who teaches lessons from Nursery to Year 6. Key Stage 2
have swimming lessons under the supeNision of fully qualified swimming teachers and coaches. We believe in
developing a competitive sporting spirit with an emphasis on participation. A wide variety of games are played in the
school and at inler-school level including football, cricket. netball. rounders, swimming, athletics and cross-country.
We are members of LSSP, Liverpool Schools Sports Partnership which allows us to compete against other local
schools. We also lake part in school football leagues and competitions with other local independent schools.

CARLETON HOUSE PREPARATORY SCHOOL
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
The School continued to provide a daily hot lunch for every child prepared by our own Ghef in the kitchen to meet
national food standards in schools. The quality of food and choice is closely monitored and h8s been a great
success with the children and staff.
Fundraising performance
The school has continued lo support local charities, with an impressivè £13,785.70 being raised for Alder Hey
Charity, our school chosen charity for the academic year 2023-24. Other fundraising included Cafod, South
Liverpool Foodbank, The Whilechapel Centre for the homeless as well as other local and national good causes and
charities.
Financial review
ReseNes policy
In what has been a diffi¢ult year with high amounts of financial uncertainty, the Board of Trustees have continued to
evaluate the reseNes requirements to ensure the continued running of the school. Due lo pnJdent financial
management over recent years, our rese￿eS have been growing, which meant that w6 were in a strong position to
mitigate the financial risks arising from the pandemic. As a general ru18, the Board of Trustees have decided that the
school should have cash reserves equivalent to b8tween three and six months costs for business as usual
operations, although this may be reducéd in pèriods where significant capital investment is needed.
Th8 curr8nt year surplus is £193,546. The general reserve has increased to £1,615,513, including cash balances of
£932,921. This is within the range of reserves agreed by the Board of Trustees, although some of the retained
resetves have been set into a specific fund which will be ulilised lo finance an ambitious development of the current
premises, which is planned to bè phased over the next three years.
The charities fr88 r8serves, unreslricled funds after excluding tangible fixed assets, as at 31 August 2024 were
£162,968.
Princip81 funding sources
The principal source of funding is the fees charged to parents for the provision of school places for their children.
Major risks
The Trustees have assessed the major risks to which the company is exposed, in particular those related lo the
operations and finances of thè company, and ar8 satisfied that systems and procedures are in place lo mitigate
exposure to the rnajor risks.
Plans for future perlods
In the previous year, the Construction was completed on a new purpose-built modern cloakroom which replaced our
prevSous cloakroom which was housed in the original conservatory to the house. As outlined in our financial review,
our growth in reseNes will was partially ulilised to fund a scheduled programme of building refresh for the coming
years, including internal and external refurbishment and the re development of the EYFS playground. This coupled
with reasonable debt financing has allowed for the next phase of the planned capital expenditure which is the
artificial grass replacement, roof, fascia, gutters repairs, building external repainting and front entrance porch
reconslruction. The works are scheduled to commence in the summer holidays of 2025 after being delayed in order
to assess the impact of VAT on school fees.

CARLETON HOUSE PREPARATORY SCHOOL
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Structure, governance and management
Carleton House Preparatory School Limited is registered as 8 charitable company limited by guarantee and was set
up by a Memorandum ofAssociation on 28 May 1976.
The Memorandum and Articles ofAssociation were altered by special resolution on 18th June 2020.
The principal object of the company is to provide a first class, independent co-educational school to pupils aged 3 to
11 years. The Head Teacher is a member of the Independent Schools Association, which gives accredilalion by the
Independent Schools Council. The School is a Catholic School which accepts children of other denominations and
faiths. 11 has strong links with the Archdiocese of Liverpool and the Parish of Our Lady of the Annunciation Bishop
Elon.
The Trustees, who are also the directors for the purpose of company law, and who sarved during the year and up to
the date of signature of the financial statements were:
L Morrison - Chair of Trustees
J P Burns
E Czarnecki
C M Harrison
S M Hegarty
C B Holguin
MJoe
T Manning
J A Robinson
(Resigned 11 November 2024)
(Appointed 11 September 20231
R&cruitment and appointmènt of trusteés
Tho management of the company is thè responsibility of the Trustees who are elected and co-opted under th8 terms
of the Memorandum ofAssocialion.
A few trustees have beneficial interest in the company, mostly having children allending at the school.
All of the Trusteès are members of the company and guarantee to contribute £1 in the event of a winding up.
Organisational structure
The Board of Trustees determines the general strategy and policy of the school, bul the day-to-day management of
the school is delegated to Ihe Head Teacher. The Board meets al least termly and there are a number of sub-
commillees convening such areas as Curriculum and Safeguarding, Finance, Buildings and Health and Safely and
Pay and Appraisal.
Induction and ¢raining of trustees
The Iruslees who served during the year are shown on page one. Trustees are appointed by the Board of Trustees
(also known as the Governing Body) and serve for 8 period of three years. Upon the end of each Ihree-year term,
trustees are eligible for re-election. Vacant Iruslee positions are advertised with a current equal number of external
trustees and Irusle8s who are current parents of the school. New trustees are provided with an introduction into the
nature and running of the school.
Auditor
In accordance with the company's articles, a resolution proposing that Xeinadin Audit Limited be reappointed as
auditor of the company will be put at a General Meeting.

CARLETON HOUSE PREPARATORY SCHOOL
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Disclosure of informatlon to audltor
Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such information.
The Trustees. report was approved by the Board ofTrustees.
L Morrison - Chair of Trustees
Trustoe
Date..

CARLETON HOUSE PREPARATORY SCHOOL
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees, who are also the directors of Carleton House Preparatory School for the purpose of company law, are
responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel.
Company law requires the Trustees to prepare financial statements for each financial year which give a tru8 and fair
view of the stale of affairs of the charity and of the incoming resDurces and application of resources, including the
income and expenditure, of the charitable company for Ihal year.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
obseNe the methods and principles in the Charities SORP:
make judgements and estimates that are reasonable and prudent; and
prepar8 the financial statements on the going corn￿rn basis unless il is inappropriat8 to presume that thè charlty
will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them lo ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.

CARLETON HOUSE PREPARATORY SCHOOL
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CARLETON HOUSE PREPARATORY SCHOOL
Opinion
We have audited the financial slalements of Cadeton House Preparatory School {the 'charity'l for the year ended 31
August 2024 which comprise the statement of financial activities. the balance sheet, the statement of cash flows
and notes lo the financial statements, including significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial slatemenls..
give a true and fair view of the state of the charilabla company's affairs as at 31 August 2024 and of Its
incoming resources and application of resources, including ils income and expenditure, for the year then
ended.,
have been properly prepared in accordance with United Klngdom Generally Accepted Accounting Practic8;
and
hava b6Èn prepa￿d In a¢¢ordance with the requirements of the Companies Acl 2006.
Basls for oplnion
We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKII and applicable
law. Our responsibilities under those standards ar8 further described in the Auditors responsibilities for the audit of
the financial statements section of our report. We aré independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial slalem8nls 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.
Concluslons relatlng to golng concern
In auditing the financial slatemenls, we have concludèd that thè Trustees, use of the going concern basis of
accounting in the preparation of the financial slalemenls is appropriate.
Based on the work we have performed, we have not identified any material uncertainli8s relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
concern for a period of al least twelve months from when the financial slalements are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respacl lo golng concern are described in the
relevant sections of this report.
other Informatlon
The other information comprises the infomialion included in Ihe annual report other than the financial statements
and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the other information and, except lo the extent
otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. Our
responsibility is lo read the other information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledgè obtained in the course of the audit, or otheMise appears
to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether this gives rise lo a material misstatement in the financial slalemenls themselves. If,
basèd 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.
Oplnlons on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit..
the information given in the Truste&s' report for thè financial year for which the financial statements are
prepared, which includes Ihe directors, report prepared for the purposes of company law, is consistent with the
financial stalemenls. and
the directors, report included within the Trustees, report has been prepared in accordance wilh applicable legal
requirements.

CARLETON HOUSE PREPARATORY SCHOOL
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF CARLETON HOUSE PREPARATORY SCHOOL
Matters on which we are required to report by exception
In the light of the knowled9e and understanding of the charity and its environment obtained in Ihe course of the
audit, we have not identified material misstatements in the directors, report included within the Trustees, report.
We have nothing to report in respect of the following mallers in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us- or
the financial statements are not in agreemant with the accounting records and returns,. or
certain disclosures of trustees, remuneralior) specified by law are not made.. or
we have not received all the inforrnation and explanations w& require for our audit. or
the Trustees were not entitled lo prepare the financial statements in accordance with the small companies
regimè and take advantage of the small companies. exemptions in preparing the Trustees, report and from the
requirement lo prepare a strategic report.
Responslbilitles of Trustees
As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are 81$0 the directors of the
charity for the purpose 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 Trustoas determine is necessary to
enable the preparation of financial statements Ihal are free from material misstslement, whether due lo fraud or
orror. In preparing the financlal stalemenls, the Trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the charitablé company or to cease
operations, or have no realistic allernalive but lo do so.
Auditor's responsibilities for the audlt of the flnanclal stat6m6nts
Our objectives are to obtain reasonablé assurance about whether the financial statements as a whole are free from
material misstatement, wh8lh8r du& lo fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstalemenl when il exists. Misstatemènts 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 slalemenls.
The extent to which our procedures ar8 capable of deteclSng Srregularities, including fraud, is detailed below.
Our approach to identifying and assèssing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team Collectively had the appropriate competence,
capabilities and skills to identify or recognise non-cornpliance with applicable laws and regulations.,
we identified the laws and regulations applicable to the school through discussions with Trustees and other
management, and from our knowledge and experience of academy seclor,.
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the oporalions of the academy, including the Companies Act 2006, data protection,
anli-bribery, employment, food hygiene and health and safely legislation,.
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management team and inspecting legal correspondence- and identified laws and regulations
were communicated within the audit team regularly and the team remained alert to instances of
noncompliance throughout the audit.
We assèssed the susceptibility of the school's financial stslemenls to rnaterial misstatement, including obtaining an
understanding of how fraud might occur, by..
making enquiries of management team as lo where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud,. and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

CARLETON HOUSE PREPARATORY SCHOOL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CARLETON HOUSE PREPARATORY SCHOOL
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships.
tested journal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in detèrmining th8 accounting estimates w8re
indicative of potential bias., and
investigated the rationale behind significanl or unusual transactions.
In response lo the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included, but were not limited lo..
agreeing financial slalernenl disclosures to underlying supporting documentation.
enquiring of management as to aclLJal and potential liligalion and claims. and
reviewing correspondènce with HMRC and relevant regulators.
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely il is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to idèntify non-compliance with laws and regulations lo
enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arls6 due lo fraud ¢an be harder lo delecl than those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities Is available on the Flnan¢lal Reporting Council's website at.. https'.11
ww.frc.org.uklaudilorsresponsibilities. This description forms part of our audilols report.
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 Comp8nies Act 2006. Our audit work has been undertaken so that we might stale to the charitable company's
members those matters we are required lo state to them in an auditor's report and for no other purpose. To the
fullèst extent permilled by law, we do not accept or assume responsibility lo 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.
Helen Furlong FCCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH415AR
Date'..3.:.7...%.S..

CARLETON HOUSE PREPARATORY SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted
funds
2024
Unrestricted
funds
2023
Notes
Income from:
Donations and lègacies
Charitable activities
Investments
1,377
1,860,214
7,199
570
1,763,156
Total income
1,868,790
1,763,726
Expandlture on:
Charitable activities
1.675,241
1,563,424
Total expenditure
1,675,241
1,563,424
Net Income and movement In funds
193,549
200,302
Reconclllatlon of funds:
Fund balances al 1 September 2023
1,421,964
1,221,662
Fund balances at 31 August 2024
1,615,513
1,421,964
The statement of financial activitie5 includes all gains and lossés rècognised in the year. All income and expenditure
d8rive from continuing acliviti8s.
10

CARLETON HOUSE PREPARATORY SCHOOL
BALANCE SHEET
ASAT31 AUGUST2024
2024
2023
Notes
Fixed assets
Tangible assets
12
1,452,545
1,420,508
Current assets
Debtors
Cash at bank and in hand
13
38,386
932,921
1,347,930
410,345
971,307
1,758,275
Credltors: amounts falllng due wlthln
one year
14
1689,531)
{1,673,3191
Net current asset5
281,776
84,956
Total assets less current Ilabllltlas
1,734,321
1,505,464
Credltors: amounts falllng due after
more than one year
15
(118,8081
{83,500)
Net assets
1,615,513
1,421,964
The funds of the charity
Unrestricted funds
18
1,615,513
1,421,964
1,615,513
1,421,964
The financial statements were approved by the Trustees on
L Morrison - Chair of Trustees
Trustee
Company registration number 01260765 (England and Wales}
11

CARLETON HOUSE PREPARATORY SCHOOL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
21
579,945
198,476
Investing actlvitles
Purchase of tangible fixed assets
Investment income received
164,5681
7,199
{64,7311
Net cash used In Investing activiti8S
{57,3691
(64,731)
Financing activities
Repayment of bank loans
(119,503)
Net Cash used In flnanclng actlvltles
{119,5031
Net increase in cash and cash èqulval&nt8
522,576
14,242
Cash and cash equivalents at beginnin9 of year
410,345
396,103
Cash and cash equivalents at end of year
932,921
410,345
12-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies
Charity information
Carleton House Preparatory School is a private company limited by guarantee incorporated in England and
Wales. The regislered affice is 145 Menlove Avenue, Liverpool, Merseyside, L18 3EE.
1.1 Accounting convention
The financial slalements have been prepared in accordance wilh the charity's governing document. the
Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Charities SORP "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 (FRS 1021" The charity is a Public Benefit Entity as definèd by
FRS 102.
The financial slalements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial slalements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The prlncSpa1 accounting
policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity
has adequale resources to continue in operational existence for the foreseeable future. Thus the Trustees
continue lo adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unreslricled funds are available for use at the discretion of the Trustees in furtherance of their Charitable
objectives.
Designated funds comprise funds which have been sèt aside at the discretion of the Trustees for specifi¢
purposes. The purposes and u58s of the designated funds are set out in the notes lo the financial slalements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes lo th8 financial slalements.
Endowment funds ar6 sublect lo specific conditions by donors that the capital musl be maintained by the
charity.
1.4 Income
Income is recognised when the charity is legally entitled to It after any performance conditions have been mel,
the amounts can be measured reliably, and il is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income
received for specific purposes but not expended during the period is shown in the relevant funds on the
Balance Sheet. Wher& income is received in advance of entitlement of receipt, its recognition is deferred and
included in creditors as deferred income. Where entitlement occurs before income is received, the income is
accrued.
13-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies
{Continuedl
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligalion lo transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in selllement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and
shared costs. including support costs involved in undertaking each aclivily. Direct costs attributable to a singlé
activity are allocated direclly lo that activity. Shared costs which contribute to more than one activity and
support costs which are not altribulable to a single activity are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tanglble flxed assets
Tangible fixed assets are initially measured al cost and subsequèntly maasured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases:
Freehold land and buildings
Plant and IT equipment
Fixtures and fittings
50 years straight line - buildings only
3-5 years straight line
2-6 years straight line
Freehold land is not depreciated.
The galn or loss arlslng on the dlsposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impalrment of flxed assets
At ea¢h reporting end date, the charily reviews the carrying amounts of ils tangible assets to determine
whèther there is any indication that those assets have suffered an impairment loss. If any such indication
exists, th8 recoverabl8 amount of the asset is estimated in order to determine the extent of the impairm8nt
loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected lo apply the provisions of Seclion 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes parly to the
Contractual provisions of the instrument.
Financial assels and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
14-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies
(Continued)
Basic financial assets
Basic financial assets. which include debtors and cash and bank balances, are initially measured al
Iransaction price including transaction costs and are subsequently carried al amortised cost using the effective
interest method unless the arrangement conslilules a financing transaction, whère the transaction is
measured al the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Baslc flnanclal Ilabilities
Basic financial liabilities, including creditors and bank loans are Snitially recognised al transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable
within one year ar8 not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations lo pay for good5 or services Ihat have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
y8ar or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al
transaction price and subsequently measured at amortised cost using the effective Interest method.
Derecognltlon of flnanclal Ilabllltles
Financial liabilities are derecognised when the charity's conlraclual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entlllement is recognised in the period in which the employee's seNices are
recèivèd.
Termination benefits are recognised immediately as an expens8 when the charity is demonstrably committed
to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Retirement benefits for employees who are teachers al the School are provided by the Teachers, Pension
Scheme ITPS).The TPS is an unfunded scheme and contributions are calculated so as lo spread the cost of
pensions over employees, working lives with the School in such a way that the pension cost is a substantially
level percentage of current and future pensionable payroll. The contributions are determined by the
Government Actuary on the basis of quadrennial valuations using a projected unit method. The TPS is an
unfunded mulli-employer scheme with no underlying assets to assign between employers. Consequently, the
TPS is treated as a defined contribution scheme for accounting purposes and the contributions are recognised
in the period to which they relate.
The School also contributes to personal pension plans for administrative employees and the pension charge
repr&s&nls the amounts payable by the School.
15-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Critical accounting estlmates and Judgements
In the application of the charity's accounting policie5, the Trustees are required to make judgements,
estimates and assumptions abaul the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historic81 experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which th& èstimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from donations and 18gacles
Unrestricted
funds
2024
Unrestrlcted
funds
2023
Donations and gifts
1.377
570
Income from charitable activities
Unrestricted
funds
2024
Unrestrlcted
funds
2023
Charltable Activity
School fees
Other income
1,761,646
98,568
1,600,987
162,169
1,860,214
1,763,156
Income from Investments
Unrestrlcted Unrestricted
funds
funds
2024
2023
Interest receivable
7,199
16-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Expenditure on charltable activities
Charitable
Activity
2024
Charltable
Actlvlty
2023
Direct costs
Staff costs
School expenses
School meals expenditure
School trips expenditure
Repairs and maintenance
Motor and travel
Rates
Light, heat and power
Telephone and IT
Photocopier
Membership and professional subscriptions
Cleaning
Insurance
Training costs
Bad debts
Sundry expenses
1,169,943
157,346
52.417
38,580
28,030
6,142
12,867
17,431
22,025
6.092
10,693
42,717
22,255
3.859
3,786
9.555
1,069,698
135,892
49,271
43,854
22,713
6,222
24,854
10,952
27,610
5,697
14,460
38,605
24,406
5,683
12,177
1,603,738
1,492,094
Share of support and governance costs {soe note 7)
Governance
71.503
71,330
1,675,241
1,563,424
Analysis by fund
Unreslricled funds
1,675,241
1,563,424
Support costs allocated to activities
Charitable
Activity
2024
Total
2023
Governance
71,503
71,330
17-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Support costs allocated to activities
(Continued)
2024
2023
Governance costs comprise:
Depreciation
Audit fees
Accountancy
Leg81 and professional
32,532
6,150
2,550
30,271
48,670
5,700
1,800
15,160
71,503
71,330
Net movement in funds
2024
2023
The net rnovemenl in funds Is staled after ¢hargingl{¢reditingl:
Fees payable to the charity's auditor..
for the audit of the charity's financial slalements
for other financial services
D&preciation of owned tangible fixed assets
5,340
2,550
32,532
5,100
2,400
48,670
Trustees
None of the Trustees (or any persons connected with them} received any remuneration or benefits from the
ch8rily during the year.
10 Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Teaching
Finance & admin
Facilities
25
24
Total
33
32
Employrnent costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
932,970
87,324
149,649
870,529
75,790
123,379
1,169,943
1,069,698
18-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
10 Employees
(Continued)
The number of employees whose annual remuneration was more than £60,000
is as follows..
2024
Number
2023
Nurnber
£70,OOQ to £80,000
£80,000 to £90,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2024
2023
Aggregaté compensation
261,898
236,431
The key managemenl personnel of thè School comprises the Trustees, the Head Teacher, the deputy Head
Teacher and the School Business Manager. Th& schools Trusté8s are not remunerated.
11 Taxatlon
Thè charity is exempt from taxation on ils activities because all ils income is applied for charitable purposes.
12 Tanglble fixed assets
Fr¥ohold l¥nd Plant and IT Fixtures and
and bulld5ngs
equlpment
flttlngs
Tol81
Cost
At 1 September 2023
Additions
1,673,234
54,026
96,299
3,773
73,333 1,842,866
6,769
64,568
At 31 August 2024
1,727,260
100,072
80,102 1,907,434
Depreciation and impairment
Al 1 September 2023
Depreciation charged in th8 year
296,679
19,601
86,740
6,238
38,938
6,693
422,357
32,532
Al 31 August 2024
316,280
92,978
45,631
454,889
Carrying amount
At 31 August 2024
1,410,980
7,094
34,471
1,452,545
At 31 August 2023
1,376,556
9,558
34,394 1,420,508
Included in land and buildings is freehold land at a valuation of £500,000 12023.. £500,000) which is not
depreciated.
19-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
13 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued incorne
2,921
1.179
34,286
1,336,754
800
10,376
38,386
1,347,930
14 Credltors: amounts falling due wlthin one year
2024
2023
Notes
Other taxation and social security
Deferred income
Trade creditors
Qlher creditors
Accruals
18,739
573,540
42,268
35,369
19,615
19,306
1,590,365
19,969
28,565
15,114
16
689,531
1,673,319
15 Creditors: amounts falling due after more than one year
2024
2023
Other cr8dilors
118,808
83,500
20-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
16 Deferred Income
2024
2023
Othèr deferred Income
573,540
1,590,365
Deferred income is included in the financial statements as follows..
2024
2023
Deferred income is included within..
Current liabilities
573,540
1,590,365
Movements in the year..
Deferred income al 1 September 2023
Released from previous periods
Resources deferred in the year
1,590,365
1,491,798
(1,590,365) (1,491,798)
573,540
1,590,365
Deferred income al 31 August 2024
573,540
1,590,365
School feès are invoiced in July for the coming academic year, and are therefore included in deferred income
at the year end.
The prior year deferred income balance has been released in full in the year, and tha total current year
balan￿ has been deferred for this year.
17 Retlrement benefit schemes
2024
2023
Defined contributlon schemes
Charge to profil or loss in respect of defined contribution schemes
149,649
123,379
21

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
17 Retirement benefit schemes
{Continued)
The Teachers, Pension Scheme ITPSI is a statutory, contributory, defined benefit scheme, governed by the
Teachers, Pension Scheme Regulations 2014. Membership is automatic for full-lime teachers in schools and
from 1 January 2007, automatic for teachers in part-lime employment. All teachers have the option to opt out
of thè TPS following anrolment.
The TPS is an unfunded scheme lo which both the member and employer makes contributions, as a
percentage of salary. These contributions are credited to the Exchequer. Retirement and other pension
benefits are paid by public funds provided by Parliament.
The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in
accordance with the Public Service Pensions (Valuations and Employer Cost Cap) (Amendment and Savings}
Directions 2019. The aim of the review is to specify the level of future contributions. Actuarial scheme
valuations are dependent on assumptions about the value of future costs, design of benefits and many other
factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report
was published by the Department for Education on 27 October 2023, with the SCAPE rate, s81 by HMT,
8pplying a notional investment return based on 1.7Vo above the rate of CPI. The key elements of the valuation
outcome are..
employer contribution rates set at 28.680/0 of pensionable pay (including a 0.08¥0 employer
administration charge). This is an increase of 50/0 in employer contributions and the cost control result
is such that no ¢hange in member benefits is needed.
total schame liabilities (pensions currently in payment and the estimated cost of future benefits) for
S8Nice lo the effective date of £262,000 million, and notional assets lestimaled future contributions
together with the notional investments held al the valuation dale) of £222,200 million giving a notional
past service deficit of £39,800 million
The result of this valuation will be implemented from 1 April 2024.The next valuation result is due to be
implemented from 1 April 2028.
The employer pensions contributions to TPS in the year amounted to £139,92412023'. 114,7271.
A copy of the valuation report and supporting documentation is on the Teachers, Pension web51te.
Under the definitions sét out in FRS 102, th8 TPS is an unfunded multi-employer penslon scheme. The charity
is unabla to identify its share of the underlying assets and liabilities of the plan. Accordingly, the charity has
taken advantage of the exemption in FRS 102 and has has accounted for its contributions lo the scheme as if
il were a defined contribution scheme. The charity has set out above the inform81ion available on the scheme.
The School also makes contributions to personal pension plans for non-leaching staff. The total ¢ost of these
contributions was £9,726 {2023.' £8,652).
-22-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject lo specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At1
September
2023
Incoming
resourcès
Resources At 31 August
axpended
2024
Sile development fund
Personal donations fund
General funds
73,050
570
1,348,344
73,050
353
1.542,110
1,132
1,867,658
(1,349}
(1,673,892)
1,421,964
1,868,790
(1,675,241)
1,615,513
Prevlous year..
At1
September
2022
Incomlng
resources
Resources At 31 August
expended
2023
Sile development fund
Personal donations funds
General funds
63,200
13,500
570
1,749,656
13,6501
73,050
570
1,348,344
1,158,462
(1,559,774)
1,221,662
1,763,726
11,563,424)
1,421,964
19 Operatlng lease commltments
Lessee
At the reporting end date the charity had outstanding commitments for future minimum leas8 payments under
non-cancellable operating leases, which fall due as follows-
2024
2023
Within one year
Between two and five years
3,158
7,308
3,158
3,158
10,466
20 Related party transactions
Trustees whose children attend the school pay fees at the same rate as other parenls.
There were no other disclosable related party transactions during the year {2023.' £39,427).
23-

CARLETON HOUSE PREPARATORY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
21 Cash generated from operations
2024
2023
Surplus for the year
193.549
200,302
Adjustments for:
Investment income recognised in slalement of financial activities
Depreciation and impairment of tangible fixed assets
{7,199}
32,531
48,670
Movements in working capital:
(Increaselldecrease in stocks
Decreasellincreasel in debtors
Increasel{decreasel in creditors
{Decreasellincrease in deferred income
1,068
{63,7151
(86,4161
98,567
1,309,544
68,345
{1,016,8251
Cash generated from operatlons
579.945
198,476
22 Analysis of changes in net funds
The charity had no material debt during the year.
-24-