REGISTERED COMPANY NUMBER: 01298683 (England and Wales) REGISTERED CHARITY NUMBER: 506907 Re ort of the Trustees and Audited Financial Statements for the Year Ended 31 Auoust 2024 for CTansle School Limited A Com an Limited b Guardntee Johnstone Howell & Co Siatutory Auditors 104 Whitby Road Ellesmere Port Cheshire CH65 OAB
Cran51 School Limited Contents of the Financial Statements for the Year Ended 31 Auoust 2024 Page Report of the TneS Report of the Independent Auditors 8 to 10 Statement of Financial Activities Statement of Financial Position 12 Statement of Cash Flows 13 Notes to the Statement of Cash Flows 14 Notes to the Financial Statements 15 to 25 Detailed Statement of Financial Activities 26 to 27
Crdnsle School Limited ort of the Trustees for the Year Ended 31 August 2024 The trustees who are also directors of the charity for the pury)oses of the Companies Act 2006. present their report with the financial statements of the charity for the year ended 31 Au(ffust 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities Preparing their accounts in accordance with the Financial Reportino Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Mission and aims Our mission is to operate as an independent day school for boys and girls up to the atse of 16. As such, the School fLmctions across two departments - Junior (Reception - Year 6) and Senior (Year 7 - 11}. Throuohout departments, the School aims to achieve high Standards whilst valuing the qualities of each individual pupil. In particular, the School provides a Tounded and balanced education within a disciplined framewoTk. a high level of personal tuition delivered through small class Sizes and a sUPPOrtive pastordl care team. The School's main aims are for students to nurture relaiionship4 seek excellence and venture beyond what they believe they are capable of. Student5 taught to succeed academically, and also to be resilienL to be reflective and to be resourcefi]l. IndivÉdual excellence is nurtured in academics, sport, music and the arts. This 15 achieved through small class sizes, excellent relationships with families and through the care of exceptional, expeTienced PTactitioneTS, With a psE0Th for their subject and the wellbeing of each and every pupil. Our GCSE results and KS2 Tesults are amongst ihe very best of maintained and independent settjngs. In additton. the School's main t()cus is to achieve value-added ft)r each pupil and the School has continued to maintain an excellent value-added for the current year. OUT pupils are gentle, warni-hearted and modest and these qualities are not compromised. We have a positive, studious, caring and ambitious environment where well behaved, positive, considerdte and courteous children can flourish. Signiflcant activities In addition to its routine activities. the School SUPPDrts local initiatives through the efforts of its staff. The School has strono workintr relationships with local maintained primary schools. The School's minibus fleet is often used to provide transportation for these children to local venues and events. In addition, local prirnary school children are invited into the School for curriculum days to allow these children to experience various secondary school style subject ClSeS and workshops. The Junior School hosts a number of EYFS Bright Beginnings, Stay and Play Sessions and Forest School Days for local pre-school children to attend and experience primary school life. The School has supported the local community by allowing third paty 0upS to make use of the School's facilities for music or sporting activities. A third paty organisation approached the School to establish a holiday club for primary school children on the premises. The club was initiated during the summer and has continued durino subsequent school holiday periods. The School continued to allow outside third party organisalions to bomw from its fleet of mini buses throughout the year. The School selected Alder Hey Children's Charity, to raise fjjnds towards throughout the academic year. Various fvnd raising activities were arranged and a total of £5,388 was subsequently donated to this charity. In addition, the School supported the following separate nd-raISing appeals; Save The Children, The Royal British Legion and the Christmas Shoebox Appeal. The BuTsary and Hardship fun(Ls are ceDdY supporting a number of pupils who would not otherwise be able to attend or continue to attend Cransley. Volunteers All members of the governing body and the Cransley Foundation team carry out their services to the School on a voluntary basis.
CTansle School Limited ort of the Trustees for the Year Ended 31 Au ust 2024 STRATEGIC REPORT Achievement and performance Academic and sporting aehievements The School continues to provide a high quality education for all of its students. Children benefit academically from learning at a small inclusive school such as Cransley. Small class sizes in a co-educational. nurtLtring and stimulating environment provides every opportunity for each child to succeed to their maximum potential. The School's unique nature as a 'through school, has allowed consideration of the exact intent of the School's curriculum to ensure optimum impact on all pupils and improve GCSE outcomes. This 'spiral' curriculum has been developed by collaboration between junior and senior specialists to ensure key skill4 knowledge and theme5 are revisited throughout a Cransley School pupil's learni journey whilst continuing io recognise the National Curriculum and exam board specifications. The School was inspected by the Independent Schools Inspectorate in November 2023 under a new framework of inspection. The results of the inspection were very positive, acknowledging the high quality of educational provision offered by the School. as well as our reported compliance against the Independent Schools Standards Regulations. The School's digitsl learning plan, Cransley School Online (CSO), continued successfully throughout the year, providin- a blended system of learning both through the use of technology and innovative classroom based activities to deliver lessons. The School's digital learning continues lo be enhanced and all staff and Sdents from year 4 have an individual device that is used at school and home on a daily basis. This blended approach allows for better collaboration, break out groups. presentations, shared research, discovery and peer tnterdction. As well, feedback from staff is detailed, personalised and focussed on the student's next staoe in learnin& allowing the online system to enhance and support the excellent practice in the classroom itself. Our aim is to maximise this technology, alono with the use of Artificial Intelligence, to exemplify blended educational technology in a new and even better way of learnints now and in the future. The School once again achieved excellent GCSE results reflectino the hard work and commitment of the students and staff. Results surpassed national averages across all subjects with 880/0 of students who sat the examinations achieving GCSE ttrades 9-4 compared to 67.4/0 nationa]ly. Furtherniore, 29.kn of adeS were awarded at level 91817 (21.7% nationally). Value added is an important internal measure for the School. This compare5 the scorints from Coonitive Testints carried out on entry to the school which gives a potential GCSE grade against the actual grade received. The total average va]ue added across all examinations was almost one grdde higher than the grade Predicted. Students have since successfully continued on to their preferred Further Educalion or training establishment. There continues to be a wide rantse of enrichment and extra-curricular activities available for students to take part in. The School has a very active PerforniinLw Arts Department that operates throughout both Senior and Junior departments. Productions in both music and drama have been thowcased throuJout the year with a number of senior students taking part in the ISA National Drama Competition in Warwick. Severdl pupils have achieved, or are workino towards LAMDA qualifications. Junior school students took part in the Young Voices concert along5id¢ a numb¢r of other schools from the North West. The School continues to enjoy a strong record of sporting achievement with many students representing theiT chosen sports at both regional and national levels. In swimmin& two students qualified for the ISA Nationals Finals as part of the North team. One student achieved outstanding results, winning both a gold and brot Tnedal while the second student secured a bronze and placed fourth in two other events. Following these perforniances, one of the students w& Selected for the prestigTOUS Swirn England Talent Progralnme. In athletic& three pupi15 achieved district-level success and qualified to compete in the ISA National Athletics Finals with a further eleven students going on to represent Mid Cheshire in their respective events. The School also saw success in cross country, with two pupils selected to represent the ISA North team. In team sports, students excelled by winnino the ISA Under-l l Rounders tournament after competing against schools from across the North of England. The School's netball programme continues to thrive with teams entered all fll)ishing within the top four in their respective leagues. Outside of School, one student has achieved national success in quad-biking, two students represented the North West trampolining squad at the Inter-Recrional Fina15 and went on to compete at the English Championship Fina15. Individual achievernents include tWQ students playing cricket at county level and two swimming at a regiona] level. Page 2
Cransle School Limited rt of the Trustees for the Year Ended 31 Au ust 2024 Outside of the cla55roorn, a number of students participated and achieved their Bronze Duke of Edinburgh awards following the completion of required expeditions. charity work and challenges. The School co-ordinates educational trips, both in the UK and overseas, as well as experiences across all year groups that are carefully planned to complement classroom leamino as well as end of tern) reward trips to recOlse hard work and oood behaviour students have demonstrated thToughout the year. One of the main principles within the School's Tnission statement is to nurture relationships. The School provides excellent pastoral, Spiritual, ethical and mordl understanding for all pupils. Cran51ey is a nurturino school where children are prepared for success during and after their time at the School. The School has a dedicated space for the pastordl department to provide support as required for sthdents with special educational needs, experiencing issues OT going through more difficult times. The School also has trained ELSA staff allowtng us to offer an exceptional level of support as required to students that may have additional needs. The School's House and uddY system is driven by the School Preftct body and this has continued to be in place throUoUt the current year and has had a positive impact on bringing together both the Junior and Senior School. It is also a proven successful method to host several whole school events, .ouest speakers, class and individual assemblies, perforniance showcases and celebrations and charity events. Pupil number5 Pupil numbers increased slightly throughout the year with the senior school continuing to have two cohorts in each year group. lirowth continued in the Junior school with an additional year 6 cohort being accommodated due to increased demand for places. Subsequent to the year end. the junior school reduced back to one year 6 cohort to allow for the separation of two classes that had previously been merged together. This has resulted in every year oup being tauJt separately to allow for continued OWth. The second year 6 cohort will be reviewed again in future years if dernand is sufficient. Donations received The Cransley Foundation continued to fimd raise for the benefit of the development of a first class learnints environment and associated resources. During the year income totallino £108.905 (2023: £205.271) has been rdised and this income stream continues to be treated as a restricted fund within the financial results of the school. Investment powers. policy and performance With the recent growth in headcoun¢ the terrnly fee cycle 15 beginning to Tesult in excess funds being generated for short periods of time. These lld5 are ]lY invested back into the School's resources and facilities appropriately required. The Trustees review the levels of these excess fi]nds each terni and, where appropriate, these are invested into short tern), higher rate deposit accounts until they are needed to satisfy charitable expenditure in order to maximise the level of incomiTho resources from this source. Financial review Principal funding sources The principal source of income for the School is the temily fees charged for its pupils. This is supported by additional income for the provision of extra subjects, particularly music, caterino multi-sensory and transport. Reserves The Finance Cotnvnittee has examined the ChariW5 requirements for reserYe5 in light of the main risks to the organisation. The Finance Committee reviews the levels of unrestricted funds that are not committed or invested in tangible fixed assets to ensure they are adequale to cover one tenns worth of expenditure. Whilst reserves are not currently at these levels. the reserves are continuints to increase year on year and the Tnjstees are workino to achieve this level of cover in fijture years. The Trustees have also been ¢onsidering the responsibilities of the School in providing public benefit through its activities, and in addition to the School's current activities they are deteTJnined to provide increased access to the benefits of the School to children in the locality who may be unable to attend the School through financial hardship and accordlngly a Bursary and Hardship Fund has been established. The Trustees have aspired to allocate a proportion of any fvture surpluses Cvenerated to this fimd.
Cransle School Limited rt of the Trustees for the Year Ended 31 Au ust ?024 STRATEGIC REPORT Financial review Financial results Overall, the Charity has made a surplus of £423,143 for the year ended 31 August 2024, compared to a surplus in the previous year of £558,614. The reduction in SUTplus from prioT year is mainly attributable to the increased salaries for academic staff in line with salary increase Tecommendations Is announced by the Government. The school also had si.¢mificant repair and maintenance spend compared to prior year to maintain the listed buildino it operates from. The School continued to invest in the estate during the academic year. The new modular clas5roorn block was converted into a new Science and Technolo.ry Centre for the start of the subsequent acadelnic year housing two new modem, fully equipped laboratories. The redundant laboratories were successfully converted into two new junior school classrooins to accommodate the increase in student numbers and classes. Subsequent to the year end, the School invested in an additional modular classroom for the Food and Technology department that will 51t alongsÉde the Science and Technolo.ry Centre. 11)is was put into full use for the new academic year beginning September 2024 and was partly funded through donatlOThs frorn the Foundation Fund. Funds will continue to be raised through the Cransley Foundation Fund which will be utilised against future projects agreed by the Foundation Fund CoTnmittee and the School. The School strategy is to continue to invest in the facilities and grow the School whilst maintaining low pupil:teacher ratios to enable the School to continue to be profitable and sustain it troino forward. Going concern A5 noted in the Financial Review, a surplus was generated again in the current year. Dual cohorts are in place for all year groups within the senior school and a dual cohort in Year 6 has been accommodated this year. Waiting lists are in place as most classes are now at capacity in the senior school. The going concern of the School is very much dependent on maintaining pupil numbers and potential wider political and macro-economic events. The Trustees are confident this headcount can continue to be achieved in future years. In the event headcount is not maintained in line with expectation, additional revenue stream5 have been identified to Cover any shortfalls and the Trustees would review costs accordingly. Future plans The Food and Technology modular classroom was fijlty operational for the academic year commencing September 2024. The School has an ongoing conunitment to improve all the facilities within the School, though the age of the building does Present challenoes. A planned prOamMe of maintenance has been put in place for the upcomino years. Following the year-end. the growih in headcount has slowed due to limited availability in specific year groups. However, the Junior School remains a key area of growth, driven by higher demand for places and the increased classroom space created by the separation of all year gTOUPS. The October 2024 budtyet confThed the Governrnenfs intention to chartte VAT on independent school fees. This change has both financial, operational and administrative implications. The School has undertaken a considerable amount of work to ensure it remains in a robust financial position and llY able to comply with the new leoislative requiretnents. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by its governincv documenL a deed of trust, and constitutes a limikd company, limited by guarantee, as defined by the Companie5 Act 2006. The objects of the charity are set out in the Memorandum of Association as the education of girls and boys up to the age of16. Reeruitment and appointment of new Truste The Trustees consider on an ongoing basis the suitability of the composition of the ooverning body for the School and its Sultability for the rnanagement of the School and its development plans. Under the School's constitution a iotation policy for election of Governors is required. Page 4
Crdnsle School Limited ort of the Trustees for the Year Ended i l Au ust 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The TnJ5teeslGovernors detennine the general policy of the Charity. The d&y-to-day management of the School is delegated to the Headteacher and the Director of Finance. The board is supported by reports from the following committees: _ - The Finance Sub-committee - The Welfare, Risk and Compliance Corn1ttee - The Academic committee - The Safeguarding committee Chaired by Mrs H Nickson Chaired by Mrs G Pearson Chaired by Dr D P Walter Chaired by Mrs G Pearson Induction and training of new Trustee5 New Trustees are given appropriate induction on joining the board, designed to ensure that the Trustees are able to discharge their duties effectively from the time of their appointmenL Related parties From time to time payment5 are made to companies or individuals connected with the Governors of the School. These are only made after approval of the Trustees after due consideration to the requirements of the School and the costs of the advice or servTces provided. Risk management The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls arc in placc to providc rcasonablc assurance against fraud and Crror. The Trustees continue to keep the School's risk assessment study under review in order to establish an appropriate system of internal controls and any other viable Tneans, as well a5 insurance cover where appropriate, in order that the major risks to which the Charity is exposed. a5 identified by the Tru5tee& can best be mitigated. A regularly updated risk assessment handbook is maintained which covers all aspects of the School's activities. REFERENCE AND ADMINISTRATIVE DETAILS Registered Cornpany number 01298683 (England and Wales) Registered Charity number 506907 Registered olCe Belmont Hall Great Budworth Cheshire CW9 6HN Trustees Mrs G Pear50n Mr5 H Nickson Mr L R Nisbet (resigned 2214r24) Dr D P Walter MT G Duncan (resigned 2214124) Mr C J Swallow (resied 1716124) Mr5 S E Minta rs G A Yandell Mr D Cohen (appointed 1716124) Company Secretary Mrs S POtt Page 5
Cransl School Limited Re ort of the Trustees for the Year Ended 31 Au ust 2024 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Johnstone Howell & Co Statutory Auditors 104 Whitby Road Ellesmere Port Cheshire CH65 OAB Banker5 The Royal Bank of Scotland 3 8 Mosley Street Manchester M2 3AZ Officers Head Teacher Mr R Pollock Director of Finance Mrs S Parrott TRUSTEES, RESPONSIBILITY STATEMENT The trustee5 (who are also the directors of Cransley School Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the fmancial statements in accordance with applicable law and United Kingdom Accountino Standards (United Kingdom Generalty Accepted Accountino Practice). Company law requires the trustees to prepare finaThcial statements for each financial year which give a true and fair view of the state of affatrs of the charitable company and of the incovning resources and applTcation of resources. including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are requiTed to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SO]iP; make judtsements and estimates that are reasonable and prudent" state whether applicable accounting standards have been followed, subject to any material depareS disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keepin ¥ proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the PTeveThtion and detection of fi7ud and other i)Tegularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware" and the trustees have taken all steps that they Oucrht to have takeTh to make themselves aware of any Televant audit infornlation and to establish that the auditors are aware of ihat inforniation. AUDITORS The auditors, Johnstone Howell & Co. will be proposed for re-appointment at the ftirthcoming Annual General Meeting. Page 6
Cransle School Limited ort of the Trustees for the Year Ended 31 Au ust 2024 Report of the trustees, incorporating a strategic repor( approved by order of the board of trustees, as the company directors, on 19 May 2025 and si¢yned on the iM)aTd's behalf by: Mrs H Nickson - Tn]stee Page 7
ort of the Inde endent Auditors to the Members of Crdnsl School Limited Opinion We have audited the financial statements of Cransley School Limited (the 'charitable company,) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reportin(v framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepfrd Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 Autsust 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United KitsdoM Generally Accepted Accountin(F Practice" and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted OUT audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are rther described in the Auditors. Tesponsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are Televant to our audit of the financial ststements in the UK. includino 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 suffjcient and appropriafr to provide a basi5 for our opinion. Conclusions relating to going coneern In auditing the financial statements, we have concluded that the trustses, use of the goino concern basis of accountints in the prepardtion of the financial statements is appropriate. Based on the work we have perforn]ed, we have not identified any material uncertainties relating to events or conditions thaE individually or collectively, may cast significaT]t doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the teeS with respect to going concern are described in the Televant sections of this report. Other information The trustees are responsible for the other infoTtnation. The other information comprises the inforn]ation included in the Annual Repo¢ other than the financial statetnents and our Rewrt of the Independent Auditors thereon. Our opinion on the fInancial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in our reporL we do not express any fonn of assurance conclusion thereon. In connection with our audit of the fmancial statements. our re5ponsibTlity 15 to read the other inforniation and, in doing so, consider whether the other infomiation i5 materially inconsistent with the financial Statements or our knowledge obtained in the audit or oth¢nYise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine whether this gives rise to a rnaterial misstatement in the financial statements themselves. If. based on the work we have wfornied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothin(F to report in this regard. Opinions on other matters prescribed by the Companies Act 2(H)6 In our opinion, based on the work undertaken in the course of the audit: the infornlation given in the Report of the Trustees for the financial yeor for which the financial statements are prepared 15 consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable le1 requirements. Page 8
ort of the Inde endent Auditors to the Members of Cransle School Limited Matters on which we are required to report by exception In the litsht of the knowledge and understanding of the charilable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 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 aeernent with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made" or we have not received all the inforniation and explanations we Tequire for our audit. Responsibilities of trustees As explained more llY in the TTUStees' Responsibilities Statement, the trustees (who are also the director5 of the charitable company for the purposes of company laiv) are responsible for the PTeparation of the financial statements and for being sat15fied that they oive a true and fair view, and for such intemal control as the trustees detertnine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or emir. In preparing the financial statements. the trustees are responsible for assessing the charytable companys ability to continue as a Croing concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accountinly unless the tnteeS either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the fFnancial stalements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue a Report of the Independent AuditOTS that includes our opinion. Rcasonable assurance is a high Icvcl of &ssurJnce, but is not a truarnntee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Mi5Statements can aTise from fraud or error and are considered material if, individually or in the awegate, they could reasonably be expected to influence the econo1¢ decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting iegulaTitie5. including fraud is detailed below.. We gained an understandino of the letsal and regulatory framework applicable to the charitable company and the industy in which it operate5, and considered the risk of acts by the charitable company that were contrary to applicable law5 and regulations, includintr fraud. We desIed audit procedures to respond to the risk. recoJiy isincv that the risk of not detecting a material misstatement due to fraud is hiJts er than the risk of not detectino one resulting from error, as fixud may involve deliberate concealment by) for example, forttery or intentional misrepresentations, or through collusion. We focussed on laws and reoulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included aoreeints the financial statetnent disclosures to underlyino supporting documentation and enquiries Mryth manOeMent. There are inherent limitations in the audit procedures described above and, the fillther removed non-compliance with laws and reoulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to Iegular1tjes. including fraud. A5 in all our audits, we also addressed the risk of mana(Tement override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud. A fvrther description of our responsibilitie5 for the audit of the fll)ancial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fomjs part of our Report of the Independent Auditors.
ort of the Inde endent Auditors to the Member5 of Cransle School Limited Use of our r¢port This report 15 made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audtl work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no oiher purpose. To the lIest extent pennitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this report, or for the opinions we have formed. Andrew Bagnall FCA (Senior Statutory Auditor) for and on behalf of Johnstone Howell & Co Statutory Auditors 104 Whitby Road Elleslnere Port Cheshire CH65 OAB 19 May 2025 Page 10
Cransl School Limited Statement of Financial Activities ordtin an Income and Ex enditure Account for the Year Ended 31 Auoust 2024 Inco 2024 Total funds 2023 Totsl fund5 Unrestricted fimd Restricted fund Notes INCOME AND ENDOWMENTS FROM Fees received 3,606,344 3,606,)44 ),J86,925 Other income 178,244 110,718 288,962 386,729 Total J.784,588 110,718 3.895.306 3.773.654 EXPENDITURE ON Direct charitable expenditure 2,145,369 2,145.369 1,977,374 Charitable activities Educational Activities Support Cost 678.756 554,403 55,060 38,575 733,816 592,978 710,620 527,046 Total 3,378.528 93,635 3,472.163 3,215,040 NET INCOME Tran5fer5 between fund5 406.060 4,288 17,083 (4,288) 42i,143 558,614 Net movement in funds 410J48 12,795 423,143 558,614 RECONCILJATION OF FUNDS Total funds brouobt forward 1,561,378 iOO.498 1,861,876 1.303.262 TOTAL FUNDS CARRIED FORWARD 1.971.726 313293 2,285,019 ,861,876 The notes forni part of these financial statements Pagell
Cransle School Limited Statement of Financial Position 2024 Total fimds 2023 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Tangible assets 1.304.921 245.tg85 1,55U,6U6 1,4U7,010 CURRENT ASSETS Stocks Debtors Cash al bank and in hand 12 13 13,282 705,656 2,540.604 13,282 706,587 2,607,514 12,792 739,646 1,633,928 931 66.910 3259,542 67,841 3.327,383 2,386,366 CREDITORS Amounts falling due within one year 14 (2.192,411) (2J4) (2,192,645) (1.480,194) NET CUKKLLY'I. A55ET&• 1,067,lil 67.607 1.134,738 906,172 TOTAL ASSETS LESS CURRENT LIABILITIES 2.372.052 313,292 2,685,344 2,313,182 CREDITORS Amounts falling due after more than one year 15 {400,325) (400,J25) (451,306) NET ASSETS 1,971,727 313,292 2,285,019 1,861,876 FUNDS Unrestricted lunds Restricted funds 19 1,971,727 313,292 1,561,378 300,498 TOTAL FUNDS 2,285,019 ,861,876 The financial statements were approved by ihe Board of TteeS and authorised for issue on 19 May 2025 and were signed on its behalf by: Mrs H Nickson - Trustee The notes forn] part of these financial statements Page 12
Cransl School Limited Statement of Cash Flows for the Year Ended 31 Au ust 2024 2024 2023 Notes Cash flows from operating aetivilies Cash generated from operdtions Interest paid 1.335.843 (25,371) 789,645 {32.581) Net ¢a5h provided by operating activities 1,310,472 757,064 Cash llows from investing aetivities Purchase of tangible fixed assets Sale of tanoible red assets Interest received (305.983) 1.704 17,069 (416.282) 3,311 Net cash used in investing activities (287,210) {412,971) Cash flows from financing activities Loan repayments in year (49,676) (42,465) Net cash used in financing activities (49,676) (42.465) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning ofthe reporting period 973,586 301,628 1,633,928 1,332,300 Cash and cash equivalents at the end of the reporting period 2,607,514 1,633,928 The note5 fomi part of these financial statements Page 13
Crdnsl School Limiled Notes to the Statement of Cash Flows for the Year Ended 31 Au ust 20?4 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERA TING ACTIVITIES 2024 2023 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Interest paid Increase in stocks DecTeasel{increase) in debtors Increase in creditor5 423,143 558,614 156,729 3,954 (17,069) 25,371 (490) 33,059 711,146 145,238 458 (3,311) 32,581 (1,118) (47,699) 104,882 Jyet cash provided by operations 1,335.843 789,645 ANALYSIS OF CHANGES IN NET FUNDS At 1.9.23 Cash flow At 31.8.24 Net cash Cash at bank and in hand 1,633,928 973,586 2,607,514 1.633.928 973.586 2,607,514 Debt Debts falling due within l year Debts falling due after l yeai (46,053) (418,799) (9,715) 59,391 (55,768) (359,408) (464,852) 49,676 (415,176) Total 1,169,076 1.023,262 2,192,338 The notes ftirni part of these financial statements Page 14
Cransle School Limited Note5 to the Financial Statements for the Year Ended 31 Au ust 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORJ) (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities PTeparints their accounts in accordance with the Financial ReportincF Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and ihe Companie5 Act 2006. The financial statements have been prepared under the historÈcal cost convention. Critical accounting judgements and key 50urees of estimation uncertainty In the application of the company's accountlng policie5, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimate5 and underlying assumptions are based on historical 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 ontsoints basis. Revisions to accounting estimates aTe recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revi5i0n and future period5 if the revision affects both Cuent and future periods. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the nds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon a5 there is a legal or constructive obligation cornmitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals b&8is and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headinoJ they have been allocated to activities on a basis consistent with the use of resources. Allocation and apportionment of costs Costs associated to the charity are allocated between the direct chaTltable activities and the management and administrative function, as these are the tsvo core are&s of expended resources. Tangible fixed assets Depreciation 15 provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to propety Short leasehold Construction in Progress Gymnasium Pavilion Fixtures and fittings School equipment at varying rates on cost at varying rates on cost not PTovided 40/0 on cost 50/0 on cost Iofy/o on c05t 25% on cost Stocks Stocks are valued at the lower of cost and net realisable value, after makino due allowance for obsolets and slow moving item5. Taxation As a charity, Cransley School is exempt from corporation tax on income and gains falling within section 505 of the Income and CoTpofdtion Taxes Act 1988 or section 258 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity Other than those relating to wage5 and PAYE. Paoe 15 continued...
Cransle School Limited Notes to the Financial Ststements - continued for the Year Ended 31 Au ust 2024 ACCOUNTING POLICIES- continued Fund accounting Unrestricted funds can be used in accordance with the charltable objectives at the discretion of the trLees. Restricted funds can only be used for particular restricted pury)oses within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purpose5. Further explanation of the nature and purpose of each fimd 15 included in the notes to the financial statements, where applicable. Hire purchase and leasing commitmenls Rentals paid under operating leases are charged to the Statement of Financial Activities on a straioht line basis over the period of the lease. Government grants Government grants are recognised when there is reasonable a&surance that the entity will comply wilh the conditions attaching to the.¢ryant and the grant will be received. FEES RECEIVED 2024 2023 Fees Extrd subject fees Catering Multi-sen50ry SUPPOrt Transport 3,072,92) 84,473 195,243 113,459 140,246 2,856,802 94,817 187,170 122,073 126,063 3.606,344 3,386.925 OTHER INCOME 2024 2023 Donations received Deposit account interest Other interest Sundry receipts 124,279 17,069 215,068 2,658 653 168,350 147,614 288,962 386.729 continued...
Cransle School Limi*d Notes to the Financial Statements- continued for the Year Ended 31 Auoust 2024 DIRECT CHARITABLE EXPENDITURE Raising donations and legaeies 2024 Staff costs Departmental resources Exarnination costs Music tuition sub contract Infonnation technology Trip expenses Interest payable and similar charoes 1,866,219 93,977 14,215 11,175 1,701,ilO 122,510 13,787 8,609 30.509 68,068 32,581 94,809 25,371 2,145.369 1,977,374 CHARITABLE ACTIVITIES COSTS Support costs (see note 6) Direct Costs Totals Educational Activities Support Cost 596,401 84.507 lJ7,415 508,471 733,816 592,978 680,908 645,886 1,326,794 SUPPORT COSTS Governance costs Manatsement Other Totals Educational Activities Support Cost 137,415 470,466 lJ7,415 508,471 22,213 15,792 607,881 22.213 15.792 645,886 NET INCOMEI(EXPENDITURE) Net income/(expenditure) 15 Stated after chargIn(credItIng)- 2024 2023 Auditors, remuneration Auditors, remuneration for non audit work Depreciation - owThed assets Other operating leases Deficit on disposal of fixed assets 10.512 5,280 156,729 142,973 3,954 7.938 4,586 145,239 113,941 458 continued...
Cransl School Ltmited Notes to the Financial Statements - continued for the Year Ended 31 Au st ?024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended i l August 2024 nor for the year ended 31 August 2023. Trustees, expenses There were no 31 Au¢YUSt 2023. trustees. expenses paid for the year ended 31 August 2024 nor for the year ended STAFF COSTS 2024 2023 Salarie5 Social security costs Pensions ,906,166 173,236 38,257 1.763.421 158,618 27,845 2,117.659 1,949,884 The average monthly number of employees during the year was as follows: 2024 52 25 2023 53 20 Teaching staff Non teaching staff 77 73 The number of employees whose employee benefits (excludino employer pension costs) exceeded £60,000 was.. 2024 2023 £60,001- £70.000 £70,001- £80,000 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted fund Restricted fund Total nds INCOME AND ENDOWMENTS FROM Fees received 3.386,925 3,386,925 Other income 180,181 206,548 386,729 Total 3,567,106 206.548 3,773,654 EXPENDITURE ON Direct charitable expenditure 1,975,060 2,314 1,977,374 Charitable activities Educational Activities Support Cost 656,825 526,950 53,795 96 710,620 527,046 Total 3,158,835 56,205 3,215,040 Page 18 continued...
Cransle School Limited Notes to the Financial Statements - Continued for the Year Ended 31 Au ust 2024 io. COMPARATIVES FOR THE sfA TEMENT OF FINANCIAL ACTIVITIES - Continued Utwe5tricted Restricted fimd fund Total funds NET INCOME 408,271 150,i43 558.614 RECONCILIATION OF FUNDS Total fi]nds brought forward 1.153,106 150.156 1.303,262 TOTAL FUNDS CARRIED FORWARD 1,561.377 300,499 1,861,876 ii. TANGIBLE FIXED ASSETS Improvements to property Short ConstctIon leasehold in progress Gymnasium COST At I September 2023 Additions Disposals 1.153.195 224,428 161,710 12,530 16,800 77,088 At 31 August 2024 1,377,623 161,710 29,330 77,088 DEPRECIATION At I September 2023 Charcwe for year Eliminated on disposal 263,166 57.338 161,636 74 77,088 At 31 August 2024 320.504 161,710 77,088 NET BOOK VALUE At 31 Autrust 2024 1,057,119 29,330 At i l August 2023 890,029 74 12,530 Page 19 continued...
Crdll51 School Limited Notes to the Financial Statements - continued for the Year Ended 31 Auoust 2024 ii. TANGIBLE FIXED ASSETS - continued Fixtures and fittintss School equipment Pavilion Totals COST At I September 2023 Additions Disposals 83,179 630.010 11229 (105,369) 380,849 53,526 (150,187) 2,498.561 J05,983 (255,556) At 31 August 2024 83,179 535,870 284,188 2,548,988 DEPRECIATION At I September 202) Charge for year Eliminated on disposal 21,250 4,159 283,588 53.214 (103,458) 284.823 41,944 (146,440) 1,091,551 156,729 (249,898) At 31 August 2024 25.409 233,344 180,327 998,i82 NET BOOK VALUE At 31 Autsust 2024 57.770 J02,526 103,861 1,550,606 At 31 August 2023 61.929 346,422 96,026 1,407,010 12. STOCKS 2024 2023 Stocks 13,282 12,792 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Fees outstandino Bad debts provision Other debtor5 Prepayments and accrued income 602,185 (38,360) 18,759 124,003 702,647 (34,389) 9,090 62,298 706.587 739,646 The figure for fees outstanding includes advance invoicing of fees for the Autumn 2024 terni. These fees were not due for paytnent until September 2024, and therefore. the resultant deferred income is shown within creditors (see note 14). Page 20 continued...
Cransle School Limited Notes to the Financial Statements - continued for the Year Ended 31 Au(Tust 2024 14. CREDITORS: AMOUNfs FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 16) Trade and other creditors Social security and other taxes Fees paid in advance Deposits in advance Other creditors Accruals and deferred income Accrued expenses 55.768 54.956 46.053 57,508 36.755 31,249 600 7,227 1.215,560 85,242 600,554 600 7,345 1.346.873 87,215 2,192,645 I,480,194 15. CREDITORS: AMOUNTS FALLING DUE AER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 16) Fees paid in advance Deposils in advance 359,408 40,917 418,799 16,507 16,000 400,i25 451,306 16. LOANS An analysis of the maturity of loans 15 given below: 2024 2023 Amounts falling due within one year on demand: Bank loans 55,768 46,053 Atnounts falling between one and two years: Bank loans - 1-2 years 51,061 46,053 Amounts fallino due between two and five years: Bank loans - 2-5 years li6,894 151,480 Amounts falling due in more than five years- Repayable by instalments: Batdc loans rnore 5 yr by instal 171,453 221.266 continued...
Cransle School Limited Notes to the Financial Statements- continued for the Year Ended 31 Au st20?4 17. LEASING AGREEMENTS Minimum lease paJThents under non-cancellable operating lease5 fall due as follows.. 2024 2023 Within one year Between one and five years In more than five years 132,613 542.377 2,630,858 105.295 390.275 2.737,606 3,305,848 3,233,176 On 16 February 2024 the trustees renewed the lease relating to the School premises comprising of a 25 year ten effective from 2 September 2021. The above disclosures assume that the lease runs fvll term. However, the School may tenninate the lease at any titne by serving a Break Notice on the landlord at least six months before Ihe Break Date. Consequently, the School would be liable to an amount equivalent to one year's rental at the date of the Break Notice. In accordance with the lease agreemenL annual rentals are subject to an increase in line with the Retail Price Increase (maximum of 40A per annum). 18. SECUREDDEBTS The following secured debts are included within creditors: 2024 2023 Bank loan 395,224 434,572 There 15 a fixed and floating charge over the charitys assets. The floating charge covers all the propety or undertaking of the charity. 19. MOVEMENT IN FUNDS Net movement in funds Transfers between nds At 1.9.23 At 31.8.24 Unrestricted funds General nd 1,561378 406,061 4,288 1,971,727 Restricted funds Foundation fund 300,498 17,082 (4,288) 313.292 TOTAL FUNDS 1.861.876 423,14i 2,285,019 Page 22 ontinued..-
Cransle School Limited Notes to the Financial Statements - continued for the Year Ended 31 Au ust 2024 19. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are follows- Incoming T¢SOUTces Resources expended Movement in funds Unrestricted funds General nd 3,784,588 (3,378,527) 406,061 Restricted funds Foundation fund 110,718 (93,636) l7,082 TOTAL FUNDS 3,895,306 (3,472,163) 423,143 Comparatives for movement in funds Net movement in funds At 1.9.22 At 31.8.23 Unrestricted funds G¢n¢ral fund 1,153,106 408,272 1,561,378 Restricted funds Foundation nd 150.156 150,342 300,498 TOTAL FUNDS 1.303.262 558,614 1.861.876 Comparative net movement in fund5, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 3,567,106 (3,158,834) 408,272 Restricted funds Foundation fijnd 206.548 (56.206) 150.342 TOTAL FUNDS 3,773.654 (3,215,040) 558,614 Page 23 continued...
Cransle School Limited Notes to the Financial Statements - continued for the Year Ended 31 Autrust 2024 19. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows: Net movernent n funds Transfers between funds At 1.9.22 At31.8.24 Unrestricted funds General fund 1,153,106 814,3JJ 4,288 1,971.727 Restricted funds Foundation fimd 150,156 167,424 (4,288) 313,292 TOTAL FUNDS 1303,262 981,757 2,285,019 A cuffent year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in fuThds Unrestrlcted General fund 7,351,694 (6,537,361) 814,333 Restricted funds Foundation fund 317266 (149.842) 167,424 TOTAL FUNDS 7,668,960 (6,687,203) 981,757 20. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 Au(Fust 2024. 21. ULTIMATE CONTROLLING PARTY The ultimate controlling party of the company is the Board of Trustees, who operate the company on behalf of the members. 22. RESTRICTED FUND The Cransley Foundation Fund was established to rdise funds to be applied to specific projects approved by the Foundation Fund Committee and the School. Page 24 continued...
Cransl School Limited Notes to the Financial Statements- continued for the Year Ended 3 J Au t 2024 23. CAPITAL The company is limited by ouarantee. Paoe 25
Cransle School Lirnited Detailed Statement of Financial Activities for the YeaT Ended 31 Au ust 20?4 2024 Total nds 2023 Total fund5 Unrestricted funds Restricted funds INCOME AND ENDOWMENTS Fees received Fees Extra subject fees Catering Multi-sensory support Transport 3,072.923 3.072,923 84,473 195,243 113,459 140,246 2,856,802 94,817 187,170 122,073 126,063 195,243 113,459 140,246 3.606.344 3,606,344 3,386,925 Other income Donations received Deposit account interest Other interest Sundry receipts 15,374 15,256 108,905 ,813 124,279 17,069 215,068 2,658 653 168,350 147,614 147,614 178,244 110,718 288,962 386,729 Total incoming resources 3,784,588 110,718 3,895,306 3,773,654 EXPENDITURE Rai5illg donation5 and legacies Support staff costs Academic staff salaries Departmenta] resources Examination costs Music tuition sub contract Inforniation technology Trip expenses Bank loan interest 400,540 1.465.679 93,977 14.215 11.175 39,603 94,809 ?5,371 400,540 1,465,679 93,977 14,215 11,175 39,603 94,809 25,371 380,020 ,321,290 122,510 13.787 8,609 30.509 68,068 32,581 2,145,369 2,145.369 1,977,374 Charitable activities Rent Rates and wateT Insurance Light and heat Cleaning Pensions Catering Sundry transport Depreciation of improvements to propety Depreciation of short leasehold Depreciation of fixtures and fittings Carrled forward 84,610 19,374 79,487 57,549 83,830 38,257 75,076 82,042 53.964 73 50,625 624.887 84,610 19,374 79,487 57,549 83,830 38.257 75,076 82.042 57,339 73 53,214 630,851 80,906 24,940 67,433 60,088 73.741 27,845 68,536 93,063 48,528 75 51,384 596,539 3,375 2,589 5,964 This page does not forni part of the statutory financial statements
Cransle School Limited Detailed Statement of Financial Activities for the Year Ended 31 Au ust ?024 2024 Total funds 2023 Total nds Unrestricted funds Restricted nds Charitable actÈvitie5 Brought forward Depreciation of pavilion Depreciation of school equipment Loss on sale of tsncrible fjxed assets 624,887 258 32.213 3,954 5,964 3,901 9,731 630.851 4,159 41,944 3.954 596,539 4,159 41,092 458 661,i12 19.596 680,908 642,248 Support costs Management Manaoement and clerical salaries Other operating leases Postage and telephone Printing and stationery Sundry expenses Legal and professional ftes Bad debts Bank charcFes Repairs and renewals Health and safety 199,735 58.363 11.200 iO,507 48,022 25,612 4,064 1,907 138,660 15,771 199,735 58,363 11,200 30,507 194,455 33.035 9,522 30.559 83,633 27,307 34,415 1,6'12 120.109 23.975 35,465 25.612 4.064 I.YU7 177.235 15,77l 533.841 74,040 607,881 558,682 Other Marketino and public relations 22,213 22.213 24.212 Governance c05tS Auditors, retnuneration Auditors, retnuneration for non audit WOTk 10,512 5,280 10,512 5,280 7,938 4,586 15.792 15,792 12,524 Total resources expended 3.378,527 93,636 3,472,163 3,215,040 Net income 406,061 17,082 423.143 558,614 This page does not forn) part of the statutory financial statements Pa.tre 27