FYLJ]qG HALL SCHOOL TRUST LIMITED REPORT ATrtD FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 AUGUS'I 2024
FYLING HALL SCIJOOL TRIIST LIMITED DLRECTORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Board of Directors present iheir annual report for the year ended 31 August 2024 under the Comp2nies Act 2006 and the Charities Act 201 I, tooether wilh the audited financial statements for the year, and Conf thai the latier comply with the requirements of the Companies Act 2006, Charities Act 2011, the Company's Memor2ndum & Articles of AssocidLion and Accounting and RetK)rting by chitieS. Statement of Recotnmended Practice applicable to Charities prep.ing their accounts in accoL'daDce with the FinaJ]¢iaJ Reporting Stamdd applic&ble in the UK and Republic of Ireland {FRS 102) _ (Charitics SORP (FRS 102)). REFERLNCE & ADNqTKE.STII4TIVE INFORMATlnN Fyling Hall School w&8 founded in l 9_)3. Fyling Hall School Trusi Limiied was incorporaied iii 1978 and 1.8 a charitable company. charity reoistralion number 507857. company registraiion Dumber 01377607, ouarantee. The Registered Office and prinLiPdl with the liability of lis member8 limited to £1 each by ¥ addiess of the Company is at Robin Hood's Bay, North Yorkshire, YO?? 4QD. Directors The present Directors of the Company. who are also the Charily Trusfres and the School Governors, and Isv aiiy ex-Directors ivho served during the year as indicated are: Mr K Jame.8 - Chair Miss B Easton - Vice Chair Mr P N Burley Mr M D Bayes Mrs H Fox (resigned 613124) Mr J Jeakins Mrs R Mansoor Miss C Spencer M.$ E K Smith Mr E Gaifney Company secretary Mr P N Burley Key executives and professionaj adytsers The Head.. Mr S Allen Bankers: HSBC plc. 33 St Nicholas Street, Scarboroutsh. YO I I ?HN Solicitor8: Pinkney Grunwells, 4? Baxter.(Tate Whitby. North Yorkshire. YO? I I BN Auditor.. O:Reill},. Kiln Hill, Markei Place, Haweb, North Yorkshire. DL8 3RA InsUrl¢e brokers: J M Glendinning, 54 Wesiborough, scbOrOllJts J, Noffh Yorksbire. YOII ITU
FYLING HALL SCHOOL TRUST LIMITED DIRECTORS, REPORT FOR TKE YEAR ENDED 31 AUGUST 2024 STRliCTtJRE GOVERNANCE AND MANAGEMENr Governino document The company is aoverned by its Memorandum and Articles of Association. which was last amended on 24 November 1994. Governing body The Direciors. .hO att also required under the Anicles to serve as members of the Company are elected at a DireLlors [eeting on the basis of nominaiions received from existing members. Members are encouTaoed 10 seek oui prospeciive members with the required skills and experienLe to increase the strength of the exAsting Board. Al the Annual General Meeting, one third of tbe Members of the GoveniÉng Body. or it this number is not a muluple of three, then the number nearesi 10 but not exceeding one thir(L shdlj retire from office and be elioible for re-elcction. The members retiTing by rotation are". Mkss B Faston, Mr P N Burley 2nd Mts E K Smith. Trnstee training Prospective Direclors are appraised of the School's history and of the corntwtm¢ni thai would be required. On appointsneni a new Dirccior is oiven copi¢s of relevant documenis including a copy of tlie Memorandum and Articles of Association. The Essential Tntstee: Whal you need to know, handbooks- both governors and siaff. risk assessments, aceounts e(c. All Direciors are encouraged to attend relevant courses, and LS a member of AGBIS trustees attend their seminars. Organisational managenient A B0d Meeting is held each terni with 2dditional meeting if required io deterniine the general policy of the Conipany and review overall management and control, for w'hich they are legally responsible. The Board has the folloNTring committees: Academic. Financc & General Purposes, Premises & Developnient, Health and Safety, Complwnis and Disciplinary, and Appeals. All committees meet ai least annually with the exception of the last Iwo. who will rneet &$ necessary. Finance & General Putposcs and He21th and Safely nornially meet at least once a ierm. The day to day runnino of the school is delegated 10 Lhe Hedd and Assistant Bursar and supportcd by the Senior Manacvemeni TeaL Th£ prinoipal CnI]ilE1c&s and th(LSe. sitting on the same are: Finance & General Purposes - Mr P N Burley (Chair) and Miss B Easlon Healih and Safety- Mr J Jeakins (Cbair), Academic- Mr K James (Chair) 3nd Mr M Bayes. Risk nwiagement Ai a Board Meeting including the Head. held in June each year. the fomal risk 2ssessments are revicwed. The Board and Head continually keep ihe School's activities under review, particularly with regard to any major risLs thai may arise from lime to lime, and to monitor the effectiveness of systems of control and other viable me4mS, including insurance cover where appropriat¢: by whkch those risks atready identified CaJL best be miuoaied
FYLLNG H.4LL SCHOOL TRusf LIMttED DlliECTORS' REPORT FOR THE YEAR ENDED 31 AUGUSf 2024 Remuneration policy The remuE]eration of the senior ManOeMent teaFn is sei by the tnjstees. OBJEcfs, Atms, OBJECTIVES AND PRLNCIPAL ACTIVITLES The objects of the Company, in accordance with its Memorandum and Arucles of Association, are to promor¢. and prnvirte. for Ihe. adviinceniciit of education and in conn¢ction therewith to Li)nduct. carrv on. acquire and develop in Ihe United Kinodom any boardino or day college or colleges. scliool or schools for the education of swdents and children of either sex or both sexes. In setting our objectives 4d Plning our aelivities the Directors have Ven careful consideration to Ihe Cbarily Commission'5 general guidance on public benefit. Strategic aim and intended effect The school's strategic aim to reach its annual objective is the attainment of the highest academic levels whilst maintaining non-selection and a modest lee level. This aim together wilh extra-curricular prOarnMeS enables devclopmcnt of other interests and prepares students for further education with a solid foundation in life. Objectives for the yvdr The Board's miiin objective continued to be to ensure that every student reaches their potenlial and ihat .y for achieving Ihe overall standards achieved by the School improve, on a year on year basis. Our su'ate(7 this is to have a high ratio of commilled staff io students, and to ensuTe staff receive continuous professional developinenl. Principal attivity The Company's principal 2Ctivity continues to be to operate a non-selective, co£ducational boarding and day school for studenls between the acres of 4 to 18. Ci'dll(-iiiakiiig As fees are Telatively modest, gant inaking has lo be constrained. Nevertheless, scholarships, burs&ies and atlow8mLes hav¢ reduced annual iJ)conie by £329L Applications. from i¥hatever SOUTce arc considered by the Head and approved or otherwisc by the Board. There arc no specific funds. and all award,8 reduce annual income. Volunteers The Pent Teacher Association raises fijnds for the .8chool. Durinu the year there aS a sitsnifJcarAt amount of voluntary )eTh4ce, The Board takes tbis opporcunity 10 say how much we appreciate their contilluino and valuable support.
YLING IIALL SCIIOOL TRUST LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 REVIEW OF ACHIEVETrIENTS AND PERFOlImAc FOR THF. YCAR Operation21 performance of the school The summer ?094 exam series saw results broadly in-line with 2023. ResulLs in the oradc bracket 9-7 (or equivalent) were at 200/0, slightly lower t]wi 2023, while 8610 of all exam vrades were aWded ai grades 94, consistent with 2023. The "headline, percenta(Te of students achieving five passes at 94. includiiig Enolish lan(Juaoe (or equikalenl) and rnaihematics, was 7410. remainints above the national 2veratte. The A level cohort also priyjuced r&8uIts broadly in line with previous years. In the highest-grade bracket: 430/c of results were aivarded an AI'IA {or cquivaJen(), while 79Yo of results were A*'_C. Two students produced exceptional rebLilts' une achievints 4 A".s and goints on to read Chemical Engineering and Biotcchnoloiyy at Pembroke Colletse, Cambridge. While anoiher achieved 2 A".s and 2 As to read Aeronautical EnLTrineering at the Universiij of Brisiol. AJI students planning io attend university achieved an offer from their fJrst<hoice universiiy with courses rdnging from Chemical Engineering lo Computer Science. Fuiidraisiiig performance The School has no target for fundraising. As has becn menlioned above, the Parent Teacher Association does raise funds for the School. The Board keeps under review rhe School's ability and need for fund raisin¥, Th¢ school acknoivl¢does the gencrosicy of parenis and friends in the pasL which has enabled the school to develop. Investment perfornianee Invesiments are with major UK clearing banks. The rerurns were in line with the base 13E, FINANCIAL REVIEW AND RESULTS FOR TKE YEAR The Directors report an overall net d¢fJ¢it of £50L for the year. The defjcit has resulred in a decrease in free reserves lo £892k. The level of reserves is reviewed annually ]d is presently calculated on the basis of one terni's expenditure, which is aPproximalY £690k. This provides sufficient working Capital to enable the company to manage cash flow effeciivL'ly. Thc Company's principal fundin¢J suurce is that of sc.hftal f%tr.{ li dnp.s nAt iLIip& 11 ny Advance Fe.e. Pavmcnts (Composition) Schemes. Goin% concern Afcer making appropriate Cnquiries, the directors have a reasonable expectation Ihat Ihe company has adequate resources 10 coiicinue in operation2] existence for ihe foreseeable future. For this reason. it continues to adopt the ooing concern basis in preparino the financial siacements.
YLING FL4LL SCHOOL TRLST LIMITED DIRECTORS, REPORT FOR T&tE YEAR ENDED 31 AUGUST ?024 Inestment policy 2nd objectivos There are no restrictions on the Company's absolute powers of investment. The Board's policy continues to be, that as reserves are for working capi1 2nd short-tern] coniingencies they sl)ould be held on deposit with not less than 80fo to be with the major UK clearing banks. The returns are to be in line i¥qth the base L'ate. FUTURE PLANS Our key objeclive remains the same as reported above for this year. The Board is and will continue to keep the financial position of the School under review with the aim to provide funds for it.8 long-tenn development. Thc BoaTd's short to medium lenn plan$ ate for coniii)ued upgradin(r of facilities. AUDITORS In accordance with Section 144 of the Charities Act 2011, a re501u(ion Proposing the reappointment O'Reilly, Chartered Accountants as audiiors to the Company will be pue Lo the arUal general meeiin Approved bj Ihe Board ot Directors at its meetin? on 2Llii/2L and signed on its behalf by:_ K James Chair
FI'LING HALL SCHOOL TRUST LIMrrED STATENT OF DIREcfoRS' RESPONSIBILITLES The directors are responsible for prepartn*7 the Directors. Report the financial st21emenis in accordance with applicable law and Uniied Kinodom Accouniina Standards (Uniled Kingdom Gener211y Accepted Accouniino Practice). Company law requires the Directors to prepare financial statements for e2ch financial year 1hICh give a true and fair leW of tbe state of affairs of the charitable company and of the incoTnino resources and applicdiion of Tesouices, iiicludino Ihe income and expenditure. of the charitable company tor that period. In preparing these financial siatemenis ihe Direciors are r4uired to: Select suiiable accountino policies and then apply ihem consisiendy: Observe the methods 2nd principles ID the Charities SORP: hlake judL7ements and escimates that are reasonable amd prndent; State whether applicable UK Accounting Sfandards hai'e been followed. subject to any material dcp3rtiires disclosed and explained in the financial stalements. and Prepare ihe financial sta(emenls on the going concern basis unEess il is inappropriate to presume thai the Ch1(abLe company will Continue in business. The Directors are responsible for keeping proper accoutsting records that disclose with reasonable accuracy at any tirne the finai)cial position of the charilable company and encible them to ensure thai che financial statements comply with the Cornpanies Aci ?006. The> are also responsible for safeouirdino the assets of the chariiable company and hence for taking reasonable steps for ihe prevention and detection of fraud and other iesUlar1tI¢$. Statcmcnt of disclosure to auditor so far as the directors ale aware, Ihere is no relevani audit infonnalion of 1h]ch the charitable company's auditors are unaware, and they have taken all the steps thai the). ought to have taken as directors in order lo make Ih¥fIiselves aware of ahy felei'at5t audil infOrnlI0 and EO cSbSh that the company's auditOl-S ar¢ aivJie of that infornution. K James Chair
INDEPETrIDENT AUDITORS, REPORT TO TILE TRUSTEES OF FYLIINIG HALL SCHOOL TRUST LTMrrED Opinion We have audited the financial statments of Fylinu Hall School Trust Limited (the 'Chilable Company") for the year ended 31 August 994. which comprise The Statement of Financial Activities, the Balance Sheel the Cash Flow StaiemenE and not&5 10 the financial statements. including significani accounting policies. The financial reportino framework thai has been applied in Iheir preparation is applicable law and United Kingdorn Accountino Standards, including Financia] Reporting Siandard I. The Financial Reportino Standard applicable in the UK and Republic of Lreland (United Kinodo Generally Accepted Accoununo Practice). n our opinion, the financiaj sutemenLs giiie a tnje and fair view of the stale of the charibIe Company's affairs as at 31 August 2094 and of its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conduLled our audit in accordance with International Standards 011 Audiiino (UK) {ISA.s (UK)) and applicable law. Our responsibibties under those standards are further described in Lbe Audiior s responsibilities for the audii of Ihe financial sidlewents section of our repon. We are independent of the charitable company in accordance with the ethical requirements ihal are relevani 10 our audit of the financial statemenis in the UK, includino ihe FRC'S Ethical Siandard ai)d we have fulfilled our other eihical responsibilities in accordance with these reqiiirernents. We believe tliai the audii evidence we have obtained is .8ufficienL and appropriale lo provide 2 basis for our opinion. Conclusions relating to going concern In auditino ihe financial slaLemenL8, we have concluded thal the director's use of the going concern basis of accouiitiiiLr in the preparation of the fii)ancial statements is appropriate. Based on the work we haipe pcrfornied, we have not identified an) material uncertainties relating io eients or Lunditions Ihat. individually or collectively, may cast significant doubt on the charitable fly's ablllcy 10 cuniirsue Js. d guiiiu LUllLei li lui J yviiod (Jf at least 12 inonths from when the financial statements are authoriscd foi issue. Our respoE)sibilities and the respoiisibilities of the direclors rebpect to ooiiits coiicern are dcscribed in the relevant sections of this report. Other information The other infonnation comprises the inforniation included in thc annual report, includino the tnLStees' report, oiher than the finaThcial statements and our auditor's report Ihereon. The trustees are responsible for the other informalion conlained wilhin the annual report. Our opinion on the fu]aJicial statements does not cover Ihe other inf0mllOn and. excepi LO tl)e extent otheThvise explicitly stated in our report. wc do not express any forn] of assurance conclusion Ihereon.
LNDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF FYLING HALL SCHOOL TRUST LLMITED {CONTI¥UED) Our respoDsibilitv is to read the other information aD in doino so, consider whether the other infornMtioD is materiall). incollsislent with the financial .statements or our knowledoe obtained in the course Of Ihe audit. or o(herwise appears to be materially misstated. If we identify such material this gÈves rise to a maierÈal misstacemeiit in Ihe financial statements thernselves. If, based on the work we have perfomed, we conclude that there is a material misstatement of this other inforination, we required to report that fact. We have nothino to report in this regd. Matters on which we are required to report by exception In the light of the knoivledoe and understanding of the company and its environmeiit obiained in Ihe course of ihe audit, we hai'e not identified material misstaicments in Ihe dire¢Eors' report included within the trustees, report. We have nothing to report in respec( of the following mailers in relation to which the Charities (Accounts and Reports) Regulauons ?008 require us to report to you if, in our opinion.. •adequste and proper accounting iecords have noi been kept, or retunis adequate for our audit have nol been received from branch&8 nnt visited by us: or •the financial statements are not in agreement with the accountino records and reLurns; or •certain di.sclosures of truslees. remuneration specified by law are nol made: or •ie have not received all Ihe inforTnalion and explanalions we require for our audit. Responsibilities of the trustees As explained more fully ii) the irusiees. responsibililies statement set out on page 6, the trustees (who are also the direccors of the charitable company for the purposes of company law) are responsible for Ihe preparlltion of the financial slalcments and for being salisfied that they give a true dnd fair view. and for such internal control as the trustees det¢rAT)ine ib necessary to enable the prepar<ition of financial slatements that are free from matcrial niisstatement, whether due to fraud or error. In prep110 the financial staiemenLS, the IDJstees arc rcsponsible for assessing the ¢ompaiiy's ability lo coiiiinue as a going concern. disclosino as applicahle, matiers related io goints eoneern and usiiig the goin(r coiicern basis of accounting unless the Wustees either iniend 10 liquidate Lhe company or to cease operaLions, or have no realistic alternativc but 10 do so. Our responsibilities for tlie audit of the financial statements Ille have been appoinced a,% auditor under Secrion J44 of The Charities Aci 2011 and report in aecordance with che Act ond relevanl regulations made or havino effect thereunder. Our objectives are to obtaio reasonable assurance about whether the financial siatements a8 a whole fl'ee frnm malerial rnisstatement, whether due to fraud or C0[. and to issue an auditor's report that includes our opinion. Reason<ible assurance is a high level of assuiance, but is not a guarantee that an audii conducted in accordance with ISAS (UK) will always detect a material missiatemeni when il exists. Missiatements can arRse frorn fraud or ern)r 2nd are consideied tn<lterial if. individually or in the aggregate, they Lould reas(Inably be expected to iDf]uence the economic decisions of users taken on the basi.% of these financial statements.
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF EYLING IIALL SCHOOL TRUST LIMITED (CONTINtrED) Iffegularilies, including fraud. are instances of non-compliance with laivs and regulations. We design procedures in line with our responsibilities. outlined above. (o delect material misstatements respect of irregu12rities, includino frdud. The exient to which our procedures are capable of detecung iFTegul8rities, including fr2ud is detailed below: A futther d&8CriPtion of our responsibilities is available on the Financial Repolling Council's websiie at: 'ii'i¥.fiL.orbi.uk.laudiiorsresponiibiliiie.%. This description forn part of our auditor's report. O, Reillv Chartered Accountanis is eli¥ible for appointment as aL)ditor of the chariiiiblc company by virtue of its eligibility for appointment as auditor of a company under sectioij 1212 of the Companies Act 2006. Use of our report TEUS report is made solely to the ClJariLy'S trus[e, as a Ix)dy, in accordanc¢ with section 144 of the Chariues Act 2011 and the regulations made under section 154 of th21 ACL Our audit work has been iindertaken so that we might slate lo the Chariiy, s trnstecs those ma(ters we are iequired to slxte to them in ali auditnT'S reporc and for no oLher purpose. To the fullest extent perniitted by law, we do not occepi or a8sume responsibiliiy to anyone other than the Charity's truse$ as a body, for our audit work. for this rcport, or for the opinions we have fonned. O /ke,I Mr Gary Rtizema (Senior Sttilutory Auditor) for and on behalf of O'Reilly, ChRriered Accountants Kiln Hill Market Place Hawes North Yorkshire DT.8 3RA
10 FILlh'G HALL SCHOOL TRU"ST LIMITED STATEME OF FINANCIAL ACTIVITIFS FOR THE YEAR ENDED 31 AUGUST ?024 2024 Unrestricted Restricted Total funds funds funds £000 2023 Total funds Notes £000 £000 Income from: Charitable activities 1,903 1,967 2,174 Donations and legacies Other Lf2din2 Ilctivities 14 14 18 Investment income 28 Query Income ,950 2,OJ4 2,195 Total income I xpendithre on: ch1[able Aciivities 2.03 I 33 2,064 2,059 Query Expens Total expenditure ?.031 33 ?,064 2,059 Net Income l (expenditure) (81) 31 (50) 136 Reconciliation of funds Funds blf I September 2023 1.046 30 1,076 940 Funds clf 31 August 2024 965 61 1,026 1,076 Conlinuing operations All income and expendiiure derives from continuino activities. Total recognised gains and losses The Statement of Financial Actil'ities includes all oains and Jassth recooni5ed in ihe year. The notes on pages 13 to 19 forn] part of these accounts.
11 F¥LllgG HALL SCHOOL TRUST LIMITED BALANCE,SHEET AS AT 31 AUGUST 2024 Notes 2024 £000 2023 £000 Fixed Assets Tangible Assets 73 75 Investn]enl Asscts io 193 187 266 262 Current Assets Stock Dcbtors Cash at bank and in hand 11 71 1,512 59 1.154 1,589 Current Liabilities Crediiors Amounts fallina due withiD one Jear 12 829 405 Net current assets 760 814 Totsl &8sets less Current liabilities 1,026 1,076 Net Assets 1.026 1.076 Unrestricted funds Restrficted funds 14 15 965 61 1,046 30 Total funds of the charity 1,026 J.076 For the year ending 31 Autsust ?024 the company was encitled ro exemp(ion from audir under section 477 of Ihe Companies Acc 21J)6 relaiing to srnall companies. The mtmbcrs have not required the compdny tv ubiain an audit of its accounts for the year in question An accordance with seciion 476 The directors acknowledge their responsibilities for complying with Ihe requiremenLS of the Act with respect to accoununti records and (he preparation of accounfs. These accounts have been Preped in accordance with the provisio$ applicable lo companies 8ubject to the small companÈes' regim Approved by Ihe Board on.............- and sioned on its behalf by K James. Chair Companv Number 01 J776(fi The notes on p20es 13 to 19 forni part of these accounts.
12 FYLING HALL SCHOOI. TRUST LIMITED STATEMENT OF CASHFLOWS FOR TFtE YEAR ENDED 31 AUGUST 2024 20?4 £000 9023 £000 Cash flows from operating activities Net movement in funds Depreciauon gnd loss on disposal of red assets Investmeni income Decreasel(increase) in stock Decrea8el(increase) in debiors Inereasel(decrease) in creditors (50) 17 (?8) 136 19 (3) (E2) 4?4 (14) (97) Cash infiowl(outtlow) froiii operating aLtiviÉies 351 42 Cash flow from Investfing aetivities Paymeiits to acquire iangihle fixed assets Receipts from sale of tangible fixed assets Investment income (15) (25) 28 Net cash flow from iniuting actii'ities 13 (?2) Net increasel(decrease) iii cash and cgsh equivalents 364 20 C2sh and e2sh equivalents at the beginning of the year 1.341 1,321 Cash 2nd cash equivalents at the end of the year 1.705 1.341 Cash 2nd cash equiv21ents consist of: InN'esunen15 Cash at bank and in hand 193 1,512 187 1.154 1,705 1,341 The notes on paoes 13 to 19 fonn part of these accounts.
13 E¥LG HALL SCHOOL TRUST LIMrrED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting polici&s a) Basis of preparation The financial statements have been prepared in accordance with Accountin¢y and Reporting bji Charities: Statement of Recommended Practice applicable to charities preparing theii accounts in accordance with (he Fiiiancial Reporting Standard applicable in the UK and Republic of Ireliind (FRS 102) (effective I January ?0 l J) - (Charities SORP (FRS 102)) and the Compai)ies Act ?006. b) Tangible fixed assets DepTeciatioii is provided on all iangible fixed assets reiaincd for use by the school ai raS calculated to spread each Sse[.$ cost, less ils eslimaEed residual valu¢ evenly over its expectcd usefijl economic life, which for each class ot assets is iiiAtiallJi assessed as averaging. Leasehold buildings Motor vehicles Fixtures, fLltings and cquipmeni Computer equipment - over the (enn of the lease IOg¢ per annum straighi line /6 per unnum str¢iighi line 33% per annum Straight line c) Fees Fees consisi of charges billed for the school year ending 31 Auoust. less bursiwieb <ind &llowai)ces. Fees received for education to be provided in future )Jears are carried forward as deferred income. d) Care subsidies Care subsidies are received for some pupils. Tliese are recog)ised as the relaied expenses are incurred. Any unused amounls at the year end are carried forward wi(bkn restricied reserves. e) Direct and overhead expenditure EAyeiiditui'e fts suininarised itndcr funettonal headingy eithep OR a diFeel cost batsi8 OF, for oyorheod costs, apportioned accordinty to maniigemenl esfimit tes of staff time spenE. The irrecuverablt elemenl of V AT is included with the item of expense to which IL relates. O Teaching material Supplie5 of IY<1mes equipment. books, stationery and sundry materials are written off to the stalcmcnt of financial activities as soon as the expenditure un procurino them is incurred. g) Pension schemes The school contributes co the Teachers Pension Defmed Benefits Scheme at rates sei by the Scheme Actuary and adTrised to tbe School by the scheme 2dmini5trator. The scheme is a mulii-employer peT]sion scheme and it is noi possible to ideniity Ihe assets and liabiliues of th¢ Scheme which are attribuiable to the chty. As a resuli. the Scheme is accounled for as a defined contribution Scheme and contributions are accounted for when advised as duc by the Scheme Administraior.
14 FI'LLN'G HALL SCHOOL TRUST LIMITED OTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 b) Operating leases Rcnia]s due under operaiing leases are charoed EO the Income and Expendlture Account on a straitsht line basis oN'er the iernj of the leasc. i) Funds Unrestsicled funds are Ihn%e ivhere the donor has placcd no restrictions upon specific spendiiig of the funds received. Resiricted funds are those funds where the income is received for a specific purpose, as set out by the donor. j) Investments Fixed asser ii)vesimeniS consisi of cash deposits and are included at the lower of cost and i)et reallsable Yalu¢.
15 FYLING HALL SCHOOL TRUST LIIWITED IYOTKS TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 2 Income from charitable activities Unrestricted Restricted funds funds £000 £000 2024 £000 2023 £000 Income from school fees Gross fees 12ss: bursaries. grants and 211()wanc&8 Toial income from school fees Educational healih funding plan ToLa] income from charitable aciivities 2.237 (3?9 1,908 2,237 (3?9) 1.908 2,434 (323) 2.111 63 2,174 1,908 1.972 3 DonlltiOELS and legaci Unrestricled Restricted funds funds £000 £000 2024 2023 £000 Gifts and donations Governmeni grants 4 Income from other trading aetivities Unrestricted Restricted funds funds £000 £000 2024 £000 2023 £000 Use of school facilities 14 14 14 14 18 18 Staff costs Unreslricted Restricted fiinds fiinds 2Q24 £000 2023 £000 £000 £000 Salaries Social sccurity costs Pension contributions 1,073 95 176 1,344 29 1.102 96 177 J,375 1.096 97 161 1,354 31 The average number of employees in the yeal was.. 2024 2023 TChIng Doniestic and suppon staft Admiiiislralive 21 18 23 18 41 43 Total number of hityher paid employees in each £ l O.O(X) band of emoluments from £60:OIMJ upwards:
16 FYLING IIALL SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ETrfDED 31 AUGUST 2024 6 Transactions with related parti£8 The directors of the lOmpY are also rrustees and governors. They are unpaid and thus have been excluded frum ihe averaae number of employees. ExpetLses of £180 were reimbursed 10 directors (?023.. £175). There is a block policy for professional indemnity insurance in respeci of 2]] employees, including the trustees. As the cosi of the policy is based on the payroll amount and the trustees are unpaid, no atnount has been allocated to the trusiees. Expenditure: analysis of total rLsources expended Siaff costs £000 Other £000 reeiation £000 £000 Charitable activiiies: School operaiino costs: Teachino costs Welfare costs Premises Support costs for schooling 985 120 68 ?02 1,375 ?26 84 288 74 672 17 204 356 ?76 2,064 17 Expenditure: other disclosures 2024 £000 20?3 £000 Rcsources expendLd include". Auditor's remuneration: For audit For Oiher services Tan2ible fixed assets Short-terni leasehold land . hiiil(lin&% Fixturcs rittings & pqiiitunont Motor vehicles Total Cost I September 2023 Additions Disposals 31 August 20?4 1.708 242 15 36 1,986 1.708 257 36 2,001 reciation I Septetnber 20?3 Charge for year Elitninated on disposal 31 Auaust 2024 1,708 169 16 34 1.911 l7 1,708 185 35 1,9?8 Ner book value 31 Au4JUSt ?0?4 31 Au(rusi 20?3 72 73 75
17 'YLtNG HALL SCHOOL TRL.sr LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ETr4DED 31 AUGUST 2023 10 Investments 20?4 £000 187 2023 £000 184 Cash held for illvesimenl at I September 2022 Net increase Cash held for investmeni at 3 l August 2023 193 187 11 Debtors 2023 £000 47 £000 55 Fccs Other debtors Prepayments 16 71 12 59 12 Creditors: due within One year 2023 £000 405 405 £000 829 899 Creditors, accruals and deferred incom¢ 13 Operating lease Lommitments In respecf of equipment and property leases. the comp8J]y is committed to making Ihe following total payments.. Pro ui £000 £000 Amounts falling diie:. Within one year BeLweeii Iwu aIid five yeaÉs After more ihan fjve years 69 278 416 763 The property lease payments are based oll the current rent payinents. and do nol take into account increases at futtire rent review dates.
18 FYLING HALL SCHOOL TRL,ST LIMITED NOTFS TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 14 Unrestricted reserves At I September 2023 £000 Ineoming Outgoing Tr2nsfers At 31 Auoust R(sources Resources 2024 £000 £000 £000 £000 Unrestricted funds 1,046 1.950 2,031 965 15 Restricted reserves At I September Incoming 1023 Resources £000 £000 Outgoing Transfers At 31 August Resources 2024 £000 £000 £000 Restricted funds 30 33 61 16 Teachers pensfion scl)eme The Tcachcrs, Pcnsion Sclieme (rps) is a ststutory, contribulory, defined benefit scheme, governed by Tl)e Teachers. Pension Scheme Regulations 2014. Nlembership is auiomatic for teachers. All teachers have the oplion lo opt-out of the TPS followino enroliiient. Thc TPS is an unfunded sLherne lo which botli the member and employer makes coniribuiions, as a percentage of salaY - these contributions credited to the Exchequer. Retirement and oiher benetEts .¢ paid by public lunds provided by Parliament. Valuation of The Teachers, Pension Scheme The Government Acuary, using nomial actuarial principles, conducts a fom.I1 aetuarial rti iew of Ihe TPS in aLcordill)ce with Ihe Pul)lic Service Pensions (Valuations and Employer Cosi Cap) Dircctions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of futurc contributions. Actllari Scheme valuations are dependent on assumptions about the value of future Costs, deign of beneflts and many other faciors. The lalesl acluarial vajuation of the TPS was canied oul as at ML arch 2020. The valuation report w publisahed by the DepartnKnl lor EduLaiion on ?6 Ociober 20?3. The key elements of the valuation and subsequent consultation are. Employer contribution rales set at 23.68% of pensionable pay (including a 0.08% administration levy) will increase by 5<70 fron) L April ?014 ToEal scheme iiabiLities (pensions currenily in pajryneni and the estimaied cost of future benefits) for service to the effective date of £? I S. l(M) million and notional assets (estimated future contiibutions tooeLher with notional invesunents held at tbe Traluation date) of £196,100 million. giving a notional p&%t s¢rYice dcficit ot £??.IJJO fftillion
19 FYLSTrIG HALL SCHOOL TRUST LIMITED NOTES TO THE ACCOUTrtTS FOR THL" YEAR ENDED 31.4UGUST ?024 The next valuation result is due to be implemented from l April 2024. A copy of the valuation report and supporting documentation is on the Teachers, Pcnsions Miebsite. Under the defmitions set out in FRS 102, Ihe TPS is 8 multi-employer pension scheme. The School is o assets and liabilities of the scheme. Accordinglv, the School unable to identify lis share of the underlyin. hos accounted for its contsibutions lo the scheme as if li were a defmed contribution scheme. The pension casts paid 10 TPS in the year amounted 10 Ll72 k (?0?3: £159k). The company also op¢rJtes a dcfined contribution pension sLheme. throuoh The People s Pension, for its non-teaching staff. Ai at 31 August ?0?4 chere were 14 employees retnaining in the schem¢. The amount recoanised <15 an expense dunno the year was £5k. (20?3 £5k)