MIM)R PARK CHARITABLE TRUST LIMITED IA Chariiable Company Lknit¢d by Gur4tttee} GOVERNORS. REPORT AND ACCOUP YEAR ENDED 31 AUGUST 2023 Company Re8LStered No.. 01571498 R¢gisiered Chariiy No= 51181)0 ADDV3P29• ie410ri024 COMPANIES HOUSE Haysmacintyre LLP Chartered A¢¢ountan Re8lStered Auditors
MOOR PARK CHARITABLE TRUST LIMITED GOVERf4oRS' REPORT YEAR ENDED 31 AUCUST2023 The Board of GovemoTS present their annual rep¥)rt for the year ended 31 Augull 2023 under the Co]npanies Act 2006 and Charities Act 2011. together with the audiled financial staiefftents for the year, and eonfirni that the latter comply with the requireThtnls of ihe Acr, Ihe Memordndum and Articles of Association and the Charities SORP 2019. STA TUS AND ADMINISTRATION Moor Park Charitable Trust Limited was founded Irt 1981 and is governed by the Memorandwn and Articles of Association. The company's only a¢iivity since foundaiion has tttft Mcx)r Park School. a preparOry s¢hool with a pre- prep deparnment thai was established on a propiietmal basis in 1964. The Trust's address and registered offitt is MLX)r Park. Richards Castle. Ludlow. Shropshire SY8 4DZ. The Trust is a registered ¢harity, number 5118(K), and a registered company, number 01571498. GOVERNORS The Governors who ar¢ dire¢tors of the Company, at)d ChaTity Tnsiees who served during the year were.. P S Avery (Tesigtwl 23 April 2023) (I) J G RoEer>Coltrnan (Chaim)an during period) (l) (resigned 15 Awil 2024) M J Verdin (3) R Kow¢nicki (41 (appointed 28 Nvv¢rnber'2022) G Somrners15) {apwinted I September 20231 T P Newall (4) J D Wall (4) R Und¢rhill {1) (aprA)illted 28 Novtmber 2022) H M Fenwirk (appointed 23 Septernber 2024) P G Gosling {21 RJ Evansll) C J Ben8ough 15) (resigned l Augua 2023) S J McGurk A M Minion Beddoe$13) (Chair from 15 April 2024) L E Cook141 IresiBrhed 7 March 2024) J Davenport (l) Mernber5hip of sub-committee5 and advig)ry groups: Finance & Property Health & Safety Marketing Edllcaiion Safeguarding and Welf8 (2) (3) (4) (5) PROFESSIONAL ADVISERS AND KEY PERSONNEL The Headrnaster J Duffield (from I September 2024) B E Brady (until 31 Augu 2024) The Bursar D R Shamock Bankers HSBC Bank pl¢. Commercial Centre 6 Broad Street. Worcester WRI 2EJ Solicitors (HR and Genera] MatteTS) rradar The Lewis Building 35 Bull Street Birtningham B4 6AP (Fe¢ Recovery & Specialist Educaiional Mattws) vwv Orchard Lane BTlStol BSI SDS Auditors Haysrnacintyre LLP 10 Queen Streei Pla¢¢ London EC4R IAG
MOOR PARK CHARITABLE TRUST LIMITED GOVERNORS, REPORT (Continued) YEAR ENDED 31 AUGUST 2023 STRUCTURE GOVERNANCE AND MANAGEMENT Govtrnin¥ Body Governors are proposed and vetted by the Nominations Commirtee having due regard to the Board's specifications concerning eligibility. pers0Tl cotnpliance. Specialist skills and local availability and are appoirtd at the next Full Board meeting. Governor trnining #Nd InductTr New Governors are inducted into the workings of the school and ¢h¢ Board and their responsibilities and liabilities as Charjty trustce5 and company direcrots. as well as In Child Prote£iion and Safe8uardin8. The school is a mtmbtr of the Association of Governing Bodie5 of Indepcndcni Schools. Training seminaTS are held for the Board each year along wilh further CPD where required. Org4ni$tional M#n•getnent. Str¥¢iury & Reltionships The Governors tnEet as a Board ihree-foui limes a year io detemiine the general poli¢y of the Charity and the School and to review Ihe School's overall managemeni and control, for whi¢h th¢ Gov¢mors are legally responsibl¢. During this period the Board was supported by 5 S¢0MmIttee$ ar)d advisory grp$- Fi]wce & Property, Health and Safety, Marketing. Education and Safeguarding & Welfare. who meet at least three tirnts a year in advance of the temily Full Board meetin85. The Finance & Property su1cOMMIttee monitors and reviews the School's budgets. annual a¢¢ounts and financial report8 considers bursary requests and a8ree5 action on any bad debts and advise5 the Full Board on financial matters generally. The Finance & Property sub-commillee also monitor5 and reviews the School'5 maintenance and buildTrng programmes and advises Ihe Full Board on all e5th1e matter5. The Health and Safety 5ub-cornmittee advises the Full Board on health and safety policy and organisation and monitors the programrne of safery audit and review and any slIartt remedial a¢rion. The Safeguarding and W¢lfare sub-committee advises the Full Board and senior staff on welfare and safeguaiding issues. moniiors the s¢hcx)I's safeguarding p(pli¢i¢s and procedures and und¢rtakes regular inforrnal inspections of the Schotsl's b)arding and pastoral fa¢ililies and systems. The Edu¢ation Committee Is mad¢ of educational governors. the Htadmaster and oih¢T senior fnetnbets of staff and helps to guide edtatIonal siraiegy for the school. The Marketing Committe£ gives guidance to the Headmaster and his stsff on all promotional matters and advises the Full Board on rnarkelin8 policy. Where there is a need for the Governing Body ¢0 Wotk through issues that do not fall under the nomial TemiL of an eSblIshed eommittee. Working groups are assanbled and report baek to the Board. The day-to-day running of the school is delegated to the Head and Bursar 5UPPOrted by the Senior Leadership Team. The a¢ademi¢ and pasioral fun¢ti(ms of th¢ Schwl are managed by the Head. supported by the Deputy Head. Dbrecior of Teaching and Leaming, Pre-Prep Co-ordin&or, Head of Early Years and House Parents. The admiTri5trative and 5uprM)rt services are managed by the Bursar in liaison with ihe Head_ Moor Park 15 an active member of the Independent Association of Prep Schools (a ¢oostituent body of the Independertt Schools Council). the Caiholbc Independent sch15 Confrrence. the Boarding Schools Association and the Independeni Schools Bursars Association. Kty Management Perwnthel During this period the GovernoTS considered that they. tog¢th¢r the Head, the Bursar and ihe Sentor L¢ader5hip Team Iconsisling of the Deputy Head, Director of Teachbng and Leaming. Pre-Prep Cordinal0r. the Head of Early Years and the De518nated Safeguarding Lead) comprise the Key Management Perwnnel for the period 2022-23. The Governors give thetr lime freely. less one member of the Board who 15 paid fees on the basis of their expertise. The pay and remurteraiion of ihe Head and senjor staff is set by tht Finance and Property Committec and is kept under annual ieview. A numbeT of ¢riteria are used in setting pay- Nature of the Tole and responsibilitie5 Competitor salari¢s in the region The sector average salary for Comparable posifions Trend5 in pay OBjE1VE5 AND ACTIVITIES The Object of the Trust, in ac¢ordance wilh tht Mtmorandurn and Article5 of A5%)ciation, Is to promote and PToYide for the advancement of education of Children. The Board h&$ rcferred to the Charity Commission's general guidance Im public benefit when reviewing it$ aims and objeetives and planning fvturc developmeni. In particular. the trusLe¢s ¢onsid¢r how planned a¢rivities will ¢ontribute to ihe aims and objectives they have set.
MOOR PARK CHARITABLE TRUST LIMITED GOVERNORS. REPORT {contiuued) YEAR ENDED 31 AUGUST 2023 Prrintlpxl A¢tlvity The TTUSI'S principle activity continues ts) be Moor Park School. a ¢fyeducational boarding and day school for children a8ed 3 to 13 yeats with art &ssociatcd day care unli babics and toddler5 from 3 rnthS to 3 yrars. Strtegic Aim and Intended Effect Thc School's overriding aim is to prepare the ¢hitdrert for their senior xhools and life beyond. This is achieved by maximisins the opportunity and poteniial of each individual child. helping them be the best they can be and le8dJftg them towards independence olthought and action. so thai they have the confJdaKe and self+rtliance. academic and Intellecal abilities to Succeed in the wider world. Objective5 for the year 21121-23 Within the activity of Moor Park S¢hool, the Board's main obi¢¢iives for 2022-23 were= Edutation Help ¢hildren navigate the world in a soft and secure enviior)ment where they ar¢ pr¢Me¢ted and cherished. Expose our pupt15 to a broad-tanging. balanced and rigorou5 curriculum that encompasses academic5, SIM)rts, the Arts and as much exposure to the natural world as we can give them. To devtlop an appreciation for natUTt and the sustsinability of the world in our children. Develop an immersion prO8me for QV¢Ts¢as pupils to be able Éo enjoy M(x)r Park's offering. Provide a besi-in-class nllrsery sertin& th provides an excellent siart in life and that supports the liftstyles of pa¥ents. Provide a safe and inclusive environment for our children and ad¢)pt best practice in all areas of welfare and safeguarding. Opernting the school Ensure the Srn<K)th har0Ver of the role of Headmaster. Review the cosi base of the school io Ttfleci cutteni pupil number5. Continue to grow additional income 8¢n¢Taiing opportunities outside of mainstream edcaLl0. Increase the pupil base by pursuing ovetseas and UK pupils Review the provision of professional development for teaching sraff with the inTent of delivering a new CPD programme in 2023r24. Publ1¢ Befiefit Moor Park is gn independent school with fee paying pupi15. Lhe level of fees bein8 derennined by the School'5 Cost structure which in turn is determined by the facilitie5 and level of service offered. The School aim5 to make a small Cash surplus ¢a¢h year sutTiciellt to fiu)d ¢apitsl expermliture and the Trust's debt for the ye4r. Within thc restrictions of child protcction precautions rel*ing to the pupils the School's fxilitie5 and resources are mode available to the wider community with a particular f(Kus on children and youn8 people. The TTUSt'5 object and strate81 aim is thtreby extended beyond the confine5 of iht School's ftt- paying pupils. The main activities involving the broader cotntnunity. and undertaken during this period were as follow5= . The School offers a means tesitd bursary scheme, io new and exisling pupils fvnded from fee income. Durin8 the 22123 period, pupi15 received rneans-1esd support, amounting 10 £193,994. In this way, the b¢nefJts of Moor Park are made 3vailable to ihose who may not otherwise be able io fund the fees. The School has rolled six Ukrainian pupils fleeing ihe war in Ukraine providing them wilh coniinuiiy in their education and a supportive neN¥ork of peers These pupils were fvlly funded fTom f¢e income. The s¢hcK)I woyks in ¢ollatA)raiion with Aciive Training and Edu¢ation (Charity Number 1062448) to provide day and residential holiday aciivilies for Children. The sch(K)I subsidised these educationally based courses. making them available to as broad a Cross section of the Community as possible. The school's facilities are used by a range of local srM)rrs clubs. generally for iheir youth teams, and as a regular vellue for l(Kal music socieiits and charitable fund-raising evenrs. The School hosts an international language School during the summer for childrerh aged 12 to 16. Providing siaie primary 5ch(M)Is with minibus provision tre schth)Is do not have rheir owi means of transporring pupils on trip The children support (he sch(Kbl's chosen charitie5 Hagley Placc. HaTS Together Ludlow and Be More Frank.
MOOR PARK CHARITABLE TRUST LIMITED GOVERNORS, REPORT (contined) YEAR ENDED31 AUGUST 2023 STRATEGIC REPORT REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE 2022-23 Educ&tioD The Curriculum and leaching methods continue io be developed through th¢ l¢ns of the Moor Park Mindsds. These habits of mind were developed by Motsr PaTk staff to ensure that childwen are given an advantage as they prepare io enter an increasingly fast-changing world.. Creativity. Curiosity, Critical Thinking, Confidence, Independence, Resilience are all now deliberdtely encouraged throu8h(yJt the curri¢ulurn and teaching method% reflect thi5 ai all leve15 of the School. The CPD $yeM has Continued io be develo with the Educaiion C¢)mminee exploring chang¢5 to CPD for iea¢hirtg staff. Tick Tock continues to PTovJde CPD and appr¢nii¢eship5 wiihin the setting. Successful delivery of Immersion programThe in January 2023. which provides the catalyst for growing ihis form of education provision at Moor Park. Implemeniaiion of a new assessment framework ro provide suitable feedback on pupil perfornance. Four Year 8s 5Ceeding in stturing scholarships to senior xhools_ Operating the sehool The school sucee55fiLlly embedded Mr Brendan Brady &5 HeJ. Successful fijndraising as part of iht FoLtnders Fund scheme. including the official launch of the carnpaign in May 2023_ This s¢heme will provid¢ bursary support to ehildmi ai Moor Park and be used io improve IT acTQ5S Ihe school campus. The school succeeded in improving its Income and Expenditure positi¢)n. The school continutd to reduce legacy d¢biors throughout the year and reduce the amwnt of aged debtots. The school was able 10 make a number of estates Telaied irnprovements to the School. Through collaball0 with Aciive Training and Educaiion (¢hariiy number 1062448) the Trusi was able to off¢r educationally based residential holiday activities for children aged 8 10 13. Launch of a new website design to allow cuTtent and perspective parents find ihe infom)ation ihey t)eed. FUTURE PLANS Edue#tioN Ctsnlinue to evolve the curriculum to piepare chjldrert for their futures. Support the roll out of increased Childcare incentives in Early Years En5UTe that Moor Park ha5 Strong links to the outside world and the Ii)cal ¢ornmunity- . Coniinue io operate and refine our improved systems of professional d¢velopmeni. To ensure that our staffing is of a high quality whilsi making sure thai Costs are controlled. Operating the School Review of governance to ensure that our committee 5tn]cture Suprts the aims of the charity and that succession planning 15 achteved. Prepare for the imposition of VAT on Fees being introduced and Business Re Relief being lost under a n¢w goveTnfftent in 2025. Coniinue io develop lh¢ markeiing strategy with a focus on oversws boarders. Seek more ways to engage In the lo¢al ¢ommunity. FUNDRAISING The Moor Park Parents Association (MPPA) whi¢h aims to raise fvnds from paren[5 and carers of current pupils. MPPA operaies at am)'s length from the school and dces not use exierna] fvndraiseTS. No ¢omplaints were received as a Tesulr of MPPA'S fundraising 8Ctkviiies. The School officially launched ihe Founde Fund in May 202J. This aims io raise fvnd for bursaries and io ensur¢ the Srhool'g IT supp)rt5 children in preparillg them5elve5 for senior schools and beyond.
MOOR PARK CHARITABLE TRUST LIMITED GOVERNORS. REPORT {¢otifjued) YEAR ENDED 31 AUGusf 2023 PRINCIPAL RISKS AND UNcERTAIrIEs The Board. advised by the Finat)¢e & Property SUmMittee and Seniw Management Team, ¢ontinLLe to keep the major risks facing the SchLK)l under review. This process is formalised by an annual review of the School's Ti5k management control document thai allows th¢ Board to focus on ihe systems and procedwe5 established io mitigate those rhsks and their effeetiveness. The Governor5 continue io rtteive detsiled firtan¢ial lnfomiatl during Ftsll Board meetin85. This allows governors to understand the perceived possible financial vulnerabilities of the School and to ¥curately mortitor the financial risks vo the school on a regular b&%is and rea¢t accordingly in a iimely manner. The principal risks and uncertainties identified for the 2023-24 are= Pressure on cash balan¢¢s fiom infiationary in¢ieases. Responding io a difficult economic and w)lilical environment and (he consequeni untertainty on pupil nuThbers Compli2n¢e with the changing safeguarding regulations and inspection regime. Pos5ibl¢ wiihdrawal of loan and overdraft finance. Political risks arising from a change in govemmeni polKy. Maintaining a safe environmeni and complying with health and safety 1r¢MeTrts. Key controls used by the School io manage risk include- Conirols on costs. relarions with ihe bank and consetvive forecasting will help to mitigate inflaiionary pressures. Growing other In¢ome streams will offsei inflotjonary ¢osts. Monitoring and respwding to the poliLi¢al and economic environrneni and corttirtgen¢y planning where appropriate. Using be51 pra¢ii¢¢ and use of saf¢guaiding Consultants and other third parties where appropriate. Accurate forecasting and iransparency with the bank regarding the level of financial 5UPPOrt needed. Comprehensive strategic planning. budgeting and managemenl accounting Re8ular Health and Safety audi to ensure the school is maintainin8 a safe environment. Through the T15k managernent Proce established for the School. the Govtrning Body is satisfitd that the Major risks Identified have been adcquately miii8ated where necessary. It Is recognised that systcm5 can only provide reasonable blli not absolute assurance that major risks have been adequately managed. Going Concern The School ha5 made a deficit in the year and expEcts to make a small surplu5 for the year dIng 31 August 2024 ba5cd on provjsional figures. It expECtS to make a deficit in the year to 31 Au8U5t 2025 following a reduction in pupil numbers due to rhe impositiort of VAT ort fee% the loss of business rate relief and some one.off re5fTLl¢tUTing costs. On current forecasts the school expe¢ts to retym to a small surplus in the year to 31 August 2026. The School has an overdraft facility of £700.OC(I which is cunently under review by the bank. An increase in the facility has been sought and is being considered by the bank. Based on its financial forecasts the School will have Sufficient rjnancial resources to ¢ontinue to meet 1¢$ IiabilitiC5 a5 they fall duc but this is dependent upon the approval of the increased bank facility. The bank has been kepl fully Jnforned of the financial posjtion of the school on a regular basis. Based on the above the Governors belteve thai it rcmains apwqxiate to prepare the financial Statements on a going concern ba51s. However, the mattets described abovc represthi a material uncertainty which may cast doubt on the School's ability 10 continue as a going con¢em. FINANCIAL REVIEW The operating ourtum for the year 2022-2023 was a deficit £189.77412021-2022 was a deficit of £202,837). Operating xtivities resulted in eash inflow of £8J22 prior to finan¢in& amon1 other things, capital expenditure of £64.712 (2022- £84.9521. Th¢.fixcd assets of th¢ Tru4 now stsnd * £2,422.512. At 31 August 2023. thc sttured bank bOoWIng of the Trust (Including the bank overdraft) $1(x)d at £1,095,76412022- £961.342). A valuation of the land and buildings belonging to Ihe Trust a5 at September 2024 valucd these ai £6.675,th). Thi5 valuation ha5 not been adjusted for in ¢he accounts. The book value of this same land and buildings at 31 August 2023 was £1,903,428.
MOOR PARK CHARITABLE TRUST LIMITED GOVERNORS, REPORT (continued) YEAR ENDED JI AUGUST2023 RESERVES POLICY Tht Governors re¢ognise the need for reserve5 to generate funds for inve51Tnent in property and the management of risks and contingencies. At 31 August 2023 tht Sch(M)I had re5trtcied funds of £131.763 and unTestTlCted fijnds were £305,079. The Schth)I currently has no frtt reserves as all amounts are allocated to fixed assets. It remains the Govemor's polity to build up free Teserve INVESTMENT POWERS These are governed by the Memorandum and Articles of A$MlatiOn which permit funds to be invested as ihought fit by the Governors subject io any conditions or 5anction5 that may be imw)5ed by law. srATEMEprr OF GOVERNORS. RESPONSIBILITIES The Governors ale reswnsible foi preparing ihe G0ven. Rep)rt and the finala1 statements in accordance wilh appli¢able law and regUl10nS. Company law requires the Govemors to prepare financial Statements for each financial year. Undu that law the Governors have elected to prepare the financial 5tat¢ments in xcordance with United Kingdom Generally Accepted Accourbting Practice (United Kingdom Accountin8 Siandards) and applicable law. Under company law the Governor5 musi noi approve iht financial statements unless they are satisfied thai they 8ive a true and fair view of the state of affaSTS of the charitable company, and of the result of the charitable cornpany for that year. In preparing these financial siatementy the Governor5 are rquited to= select suitable accounting policies and then apply ihem cot)si#enily' observe the principles in the Charities SORP. rnake jud8rnen15 and accounting estimate5 that are reasonabk and prudent. state whether applicable accollniin8 srandards have been followed. subject to any material departures di5clo5ed and explain¢d Ln th¢ finan¢ial stst¢m¢nts' PTepare the financial statetnents on the going concern basis unless it is inappropria(e presume the charlble company will continue in busine The Governors arr r¢spon5ibl¢ for k¢¢ping quate a¢¢ounting ie¢ords thai are suffi¢ien¢ to show and explain the chaTilabl¢ company'5 transaclioTt5 and di%10 with rrasonablc arcurary at any time the financial position of the charltable company and enable ihern to ensure ihat the financial statements comply with the CoThpanies Act 2006. They are also rcsponsible for safe8uardin8 the &ssets of ihe charitsble Company and hence for taking reasonable steps for the prevention and detection of fraud ar other irTegularitie5. So far as each of the Governors is aware ai the time the rernrt is approved= there is no relevant audit infoThaiion of which the charitsble cornpany's auditi)rs are unaware- #nd Ihe Governors have taken all sieps thar they ought to have raken io make themselve5 aware of any Televant audit infomation and to ¢stsblish (h ih¢ audirors are aware of thai inforniatLOn. The Governors, Rep(>rt, incorporating a Strategic Report. w&$ approved by the Board of Governors on 14 October 2024 and signed on its behalf by.. Miii&oh Se6ldoE A Minton Beddoes. Chair Moor Park Chariiable Trust Ltd Moor Park Richards Castle Ludlow Shropshire SY8 4DZ
INDEPENDEPIT REPORT OF THE AUDITOR'S TO THE MEMBERS OF MOOR PARK CHARITABLE TRUST LIMITED Opinio We. have aiidited ihe financYAI .staiernents of MnDr Park Charitable Tnt Limiied ftsr the year ended 31 Au%lls¢ 2023 whieh comprise the Statement of Financial Aaivilies. Balance Sheet and Thes to the financial statements, including a summary of significani accouniing policie5. The financial reporting framework that ha5 been applied in their preparation Is applieable law and United Killgdo Accounting Siartdards, Including Financial Reporting St8ndard 102 The Financ1 ReporliJTrg Siundurd applicable in Ihe UK ortd Republic of Ireland (Uniied Kingdom Generally Accepted Accounting PTa¢ti¢e). In ow opiniort. the financial statements-. give a true and fair view of the Mate of the charithble company's affairs as at 31 August 2023 aTMI of the net movement in fund5. Including the In¢ome and expendinire, for the year then ended: have been properly prepar¢d In accordance with Unii¢d Kingdom Generally Accepi Aceouniing Praciice. and have been prep8red in accoTdan¢e with ihe requiternents of the Companies Act 2(K)6. Basis for opinion We condllcted our audit in accordance with Int¢maiional Siandards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsibililies under ihose standards are further des¢Tibed in the Auditor's resw>nsibilities for ihe audit of the financial staremenis section of our rep)rt. We are independent of the charity in accordance with the ethical requiTemenlS Ihar are relevani io our 8udit of ihe financial atements in Ihe UK. including ihe FRC'S EihitBI Siandard. and we have fulfilled our other eihiul resportsibililies In a¢¢ordance wi¢h these Te4uirements. We believe that the audii evidence we have obthined is sufficieni artd apprOprie to provide a basis for our opinion. Materlal uncertainty relted i• going In audiiing the financial srarements. we have ¢on¢lude4 thai Ihe trustee5' Use of the going concern basis of acwunting in the preparation of the financial stsiements is appropriaie. We draw attention to the 3ccouniirtg policy note l(b) on page 13 regarding going concem. which indicates that the School has incurred a deficit in the year and will incur a furtheT deficii in the year ending 31 2025. The School expecrs io reium io a Small surplus in the year ended 31 August 2026. These ¢oNdilions indicate that a material uncertainry exists Ihar may ca51 significani doubi on ihe School's ability 10 coniinue as a going concern. Our opinion is not tnodifjed in respe¢t of this matter. Our responsibiliiies and ihe responsibilities of the Mle£S with respeci going cot)¢em ate described in the relevant sections of this Tep)tL Other information Thc trustees are responsible for the othef information. The other infomiaiion comprises the Inforniion included in the Governors, Repon. Ollr opTrnion on the financial ateMentS does noi Cover the other information and, except to the extent otherwise explicitly srored in our reporL we do noi expres5 any forni of a5sufdnce ¢onclusion ihereon. In connection with our audit of the finartcial statemen15. our responsibility is 10 read the other infonnation and, in doin8 50, consider whether the other inforn)aiion is marerially inconsigent with the fJn8ncial ststements or our knowledge obtained in the alldii or otherwise appears 10 be maierially misststed. If we identify such material inconsisiencies or apparent matrrial missiatements, we are required to deterniine whether there is a material misstaiement in the firtan¢i&l 5taterntnts or a material mi5siatemeni of the other inforn)aiion. If, based on ihe work we hawe perfomied, we con¢lude that there is a maierial mis51aiem¢ni of this other inforniaiic4), we are required w report thai fa¢t. We have noihing to report in this regard. Opifjions on other matters preseribed by Ihe CompDies A¢t 2006 In our opinion. based on the work undertaken in the Course of the audit". Ihe inforniaiion given in ihe GovemoTS' Repon (which incorporates ihe strategic report and the directors. rew>rt) for ihe financial y¢ar for which the financial atements are prepawed is consistent with the financial statements- and the GoverTh)rs' Report (which irforwrates the Stre8ic report athd the dircctijrs, Teportl ha5 been prepartd in accordance with applicable legal requirements. Matters Dn whieh we ar¢ r¢qyired to report by exception In the li8ht of the knowlerfge and understanding ofthe charirable company and its environrnent obtained in ihe ¢ourse of the audit, we have not identjfied material mi5sthiements in the Gov¢tTh)ts' Report (which incorporates the 4rategic rEPOrt and the directOTS' repon).
INDEPENDENTREPORT OF THE AUDITOR'S TO THE MEMBERS OF MOOR PARK CHARITABLE TRusf LIMITED (¢ontinuedl We have nothing io report in respe¢t of the following matters in relattijn io which the Companies Act 2006 requÉres us to report to you if, in our opinion.. adequatr accouniing records have not been kept by the ¢haritabl¢ ¢ompany.' OT the charitable Company fjnancial siements are noi in agreement with the ac¢ouniing reccds and returns- or certain disc105ures of Governors, remuneration specified by law are not made.. or we have not received all the infomiation and explanations we require for our audit. Responsibilitie5 of Covernors for the fitsan¢il st¢emtnts As explained rnore fijlly in the Staternent of Governors. Responsibilities. Ihe Governors (who tre also the directors of the eharitable cornpany for the purposes of COTnpany law and trusrees for the PUT$t$ of charity law) are resw)nsible for the preparali0 of the financial ststements and for being satisfied thai they give a true and fair view, and for such intern81 control a5 the governors determine Trs necessary to enable ihe prepardiion of finanei81 statements that are free from material misstatemen¢ wheth¢r dlke tt) fraud or error. In preparing ¢he financial srarem¢nts, the govern¢xs ar¢ respoosible for assessing rhe ¢harirable )MpanY'S ability to continue as a going ¢on¢¢m, disclosing, as applicable. matters rela io going con¢em and using ihe going ¢oncern basig of accouniing unless lh¢ Governors ¢ith¢r iniend to liquidale the ¢hari&ble company or ro ¢eas¢ operaiion5, or have no Teali5ttc altemaiive bul io do so. A¥ditor'5 respon5ibilitie5 for the audit of lh¢ fln(lI statements Our obje¢tives are to obtain reasonable assurance at1 Wh¥ the financial $teMentS as a whole ate free from material misstaiemenl, whether due io fiaud or error, and to i5su¢ an auditor's rcp)rt that includes our opinion. Reasonable assurance is a high level of assuT2nce. but is nol a guarantee that an audit conducted in a¢¢ordan¢e with ISA5 {UK) will always detect a material missiaiemeni when it exists. Misstatements can arise frorn fraud or ertor and are Considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of uscrs taken the basis of these finan¢itl statemen15. B¢d on our undeTStanding of the charitable company and the environment in which it operates. we identified that the principal risks of non-compliantes with law$ arml regulations related io ihe Education (Independent Sch(>ol Srandards} Regulations 2014, safeguarding regulations. health safety requirements, GDPR, employment law and charity law and we considered the extent to which non-cornpliance Tnighi have a material effects on the financial 5taltrnents. We also Considered those laws and re8ulation5 that have a direct impact on the preparation of ihe financial statemen15 such as the ChaTlties Act 2011. the Statement of Recommtndcd Prdctice for Ch8riiie5 (SORP 2019) and considered other factors such as payroll iaKes. We rvaluated management's irKentives and Opportuniti for fraudulent manipulation of the fbnancial 5ta(¢m¢nt5 (including the risk of override of controls) and deierrnind that the principal risk was related io the reeo8nition of voluntary income. Audit prrKedures ptrfonned by the tn8a8em¢ni wm included.. Enquirits of rnanagern¢nl regarding ¢OTresponden¢e with re8ulator5 and taK authorities. Discussion5 with managtmeni including consideration of known or SLW)ecied instances of non-compliance with laws and regulation and fraud. Reviewing ihe Controls and pro¢edures of the charity. particularly in relation to the recording of iTKome and processing of payments and payroll. to ensurt ihese were in place throughout the year- Evaluating management's eontrols desi8ned to prevent and deleci irregularities. Reviewing and testing JouM ¢niries made in the year. particularly those Tn*Je as part of ¢he year•end fjnancial reporting process: and Challen8in8 a5surnpiions and judgements made by management in their critical accountin8 estimates which comprises deprttiation. Because of the Irtherent limitations of an audi¢ there ts a risk that wc will not detect all irregularities. including those leading to a material misstatement in thc financial atemeIS or non-compliance wilh re8ulation. Thi5 risk increases ihe more that compliance with a law or re8ulation is rcmoyed from iht tvenis and transacrions reflecied in the financial statements. as we will be less likely to become aware of in5t8nces of non-eompliance. The risk is a150 greater regarding irregularitie5 occutting due to fraud rather than error. as fraud Jnvolves interttional wncealmertL forgery, collusion, omisstofi or misrepresentation. A further description of our resp)nsibiliti¢5 for ihe audii of the financial $eMentS is Ictated on the Financial Reporting Council's web5ire ai.. Www.frc.or.UkI8udIlofsTcs nsibililies. This description fonn5 part of our auditor's repK)rt.
IIYDEPENDENT REPORT OFTHE AUDITOR'S TO THE MEMBERS OF MOOR PARK CHARITABLE TRVST LIMITED {comtiD•edl Use of oiir repnrl This r¢port is made solely io the charitable ¢ompany's member4 a b(Mly, in accordance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audii work has been undertaken so that we mighi srate to the charitable cornpany's members those mailers we are required io slate io them In an Audiiotrs report and for no other purpose. To the fullest extellt petrnitted by law. we do not a¢c¢pi or assume rtstthsibiliry io anyooe other than the charitable company and the haritable company'5 members as a body. foi our audit worK for this TqKKt. or for the opinions we have fornied. Tr&cèy Young (Senior Statptory Auditor) For and on behalf of H8ysma¢Tntyre LLP. Statutory Auditors 10 Queen Streei Place London EC4R IAG Date: 15(k¢obEr2021
MOOR PARK CHARITABLE TRUST LIMITED STATEMENT OF FINANCIALACflVITILS YEAR EP4DED 31 AUGUST 2023 Un$tl¢t¢ Fuod$ R¢stricted Fut)ds Total 2023 Total 2022 INCOME FROM.. Charitable 8clivities: School fees reteivable Tick Tock fees, disbursements and exrras Don4tions Government grants (eornn#viru$ job support scheme) Other trading aftivities: L¢ttings Other.. Sundry in¢ome 2.360.130 631,622 12.853 2.360.130 631.622 173.461 2,218.932 607.403 30.108 160,608 1,542 154,949 154.949 85,489 1,962 Tot41 incornt 3,159,554 160.608 3.320,162 2,945,436 EXPENDITURE ON: Raising funds: Financing costs Chgritxble attivitit$: 55.854 55,854 40,864 Teaching Costs Welfare Costs Preynises costs Tick Tock costs Support and governance costs Scholarship5 and FALrsarie5 payable 1292.023 673.639 467.604 309.731 522.378 24.760 23.628 1.220 1.316.783 697.267 468,824 309.731 522.378 139.099 1.220.666 693.095 449,600 291.954 452.094 139.099 Total expe•diture 3.321.229 188.707 3,509,936 3,148,273 Net (txpetsditurel for the year (161,675) (28,099) (189,774) (202,8371 Net movement in fund$ (161.675) (28.099) (189.774) (202.8371 R¢¢oth¢lli4tion in Funds Total fund5 brought forward I Septemb¢T 2022 466.754 159.862 626.616 829.453 Total fund5 carried forward at 31 August 2023 12 £305.079 £131,763 £436.842 £626.616 No summary income and expenditure account has been prepared because this infomation is clearly idenrified in the above 51atement. All gain5 and 105s¢s recognised in the year a Included in the Statement of Financial Activities. The ¢ompaiative Sta*menr of Fina1?1 Activities for the year ended 31 Au8USt 2022 is shown in nol¢ 17. The note5 on pa8es 13 10 21 fom part of these accoun 10
MOOR PARX CHAIUTABLE TRUST LIMITED COMPANY REGISTERED NO: 01571498 BALANCE SHE ASAT 31 AUGUST 2023 2023 21122 Notes FIXED ASSETS Tangible fixed assets 2.422.512 2,492,689 2,492.689 CURRENT ASSETS Debtor5 Cash at bank and in hand 15.332 1,154 126J45 113.592 CREDITORS- falling duc within one year (1,416,064) {1209.) NET CURRENT LIABILITIES (1.289.719) (1,096,317) TOTAL ASSETS LESS CURRENT LIABILITIES .132.793 1.396,372 CREDITORS- due after more than one year 10 1695.951) (769.756) NET ASSETS £436.842 £626.616 Represented by.. RESTRICTED FUNDS UNRESTRICTED FUTr4D 12 12 131.763 305.079 159.862 466.754 13 £436,842 £626,616 The finan¢ial sthtements wer¢ approved and authorised for issue by the Board on 14 O¢Eober 2024 and were signed on its b¢half by.. J Davenport ) GOVERNORS A M Minion Beddoes (Chairl The notes on pa8¢s 13 to 21 forni pan of these accounts.
MOOR PARK CHARITABLE TRUST LJMITED STATEMENT OF CASH FLOWS YEAR ENDED 31 AUGUST2023 21123 2022 Notes Cash flow provided by opernting aetivitie5 (see below) 8.322 234.520 Cash now$ frnm opernilng ctiviti¢s: Pur¢hase of tangible fixed assets (64,712) (84,952) (64,712) 184.952) Cash flDw5 frnm finanting activities Repayment of fLnance leases Loan repayments Finance ¢osts paid {8.1K>O) (37,034) (55.854) (22,967) (33,630) (40,864) (100.888) (99,461) Change in cash and cash equivalents in the year (157278) 50.107 Cash and cash tquivalents at the start of the year (305.430) (355.537) Cash and cash equivalents al the end of the year 2 £(462.708) (305,4301 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING AcfivITIES 2023 2022 Net movernertt in funds for the year (as per the Siarement of Financial Activilits) Finance costs Depreciation Decrease in debtor5 Increase in Creditors (189.774) 55,854 134.889 1.425 5.928 (202.837) 40,864 146,112 44,430 205,951 Net C#5h provided by operatiwg aetivities £8.322 £234.520 2. ANALYSIS OF CASH AND CASH EQUIVALEKtS Cash * bank Bank oveTdiaft 15,332 (478.040) 1,154 (306.584) 462,7081 £(305,430) 3.ANALYSIS OF NET DEBT At I Sept 2022 C#sh Ilow$ Other tt(n- Cash chang At31Aug 2023 Cash and bank Bank overdrafts Bank loans due within one year Bank loans due after one year 1.154 (306.584) (37.035) (617.723) 14,178 (171,4561 37.035 15,332 (478,040) {38.417) (579.307) (38.417) 38.417 960.188) 4120.244) £(1,080,432) 12
MOOR PARK CHAIUTABLE TRUST LIMITED NOTES TO THE ACCOUNTS YEAR ENDED 3J AUCUST2O23 ACCOUNTING POLICIES (a) Basis of preparation of the xt¢outtts The fin8neial statements of ihe School, have been prepared in attordance with th¢ Stat¢m¢nt of Recommend¢d Practice for Charities {SORP) (Second Edition, effective l January 2019). Financial Reporting Standard 102 'The Finan¢ial Reportin8 Standard applicable in the UK and Republi¢ of Ireland. 2nd ih¢ Companies Act 2006. Moor Park Charitable Limiied meets the definition of a public bEnefJi eniity under FRS 102. As5¢ts and liabiliii¢s are initially recognised ar hisiorical cost or vansaciion value otherwise srated tn the relevant accountitlg policy noie. {b) Going ¢oneern The S¢hool has made a defJ¢il in the year and expects to make a small surplus for the year ended 31 Augu 2024 based on provisional figures. li eApxis to make a deficil ID the ytar to 31 August 2025 folltswing a redu¢tioTr In pupil numbersdue to th¢ Jmw)silion of VAT on Fees. the loss of business iaie relicf and 50m¢ orte-off restrUCrIng costs. On ¢urreNt forrcasts rhe sch(M)l expe¢ts to retijrn to small SUTplus in the year to 31 August 2026. The School has an overdraft facility of £700,0 which 15 ruentlY under review by the bank. An Increase in the facility has been soughi and is being considered by the bank. Based ort its firtan¢ial forecasts the School will have sufficient financial resources to continue io mee¢ its liabilities as they fall due but this is dependent upon the approval of the Jncreased bank facility. The bank has been kept fully informd of ihe financial position of s¢hool oth a regular ba51S. Based on the above the GoYem¢xs beli¢¥¢ th• il MaInS approwiai¢ io prepare the fJnan¢ial sfat¢ments on a going Concern basi& HoweveT. the Tnatters descnbed above represeni a maierial uncertainty which may cast doubt on the School's ability to coritinue a going ¢ollcem. (c) Crilicl ccountig judEtmeTrts and kty sources Of estirn¢ion u*c¢rt#l#ty In the application of the a¢¢ouniing policies, Governors are required to make judgemenL esiimates, and assumpiions abolli rhe carrying value of assers and liabilities thai are no¢ readily apparent frorn other sources. The estimates and underlying assumptions are based on hiOrT¢31 experience and other fa¢ttsTS th¥1 are considered to be relevant. Acnwl results may differ from these elMa The estimates and undeTlying assumptions ate reviewed on ongoing basis. Revisions to Èccouniing estimates are re¢ognised in the period in which the eslimaie Is ievised if the revision atYe¢ts only that period, or in the period of the Thision and future pththjs if the revision afyecied Current and fuwre periods. In the view of the Govemors, no assurnptions ¢onceming the future or estimation uncertainty affe¢iing assets OT liabilitie5 9t the balance sheet da aTe likely to result in a material adjustsneni to their caTrying amounts in ihe next financial year apart from.. E#irnaiing the e¢oJwmi¢ ustfvl life oftsngible fixed assets. Id) Tgngibk fix¢d 4ss¢15 All fixed assets ¢OSiJng more than £5(KJ are capi]1$e4 and are statcd * cost less depttciation. D¢preciation is provided on fixed assets io write off their cost over estimaied usefijl lives when brought into use at the following rates". Freehold buildjngs Fumiture. fixtJtes and equipment CoTnput¢T5 and similar equipmenl Motor vehicl¢ 2-5yo eost 5-20/0 Cost 25•A on c051 on cost 13
MOOR PARK CHARITABLE TRUST LIMITED NOTES TO THE ACCOUNTS YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES {cfjntinu¢d) (e) Finantial iTr5trument$ The School only ha5 financial Sets and financial liabilities of a kind ihar qualify as basic financial instwments. Basic financial instrurnents are initially recognised at 1rdllsalOn value and subsequenÈly measured at their settlement value. (o Income All income is COgnised In ihe Swemeni of Financial Activiiies once the charity has enlltlement LO the funds. it is probable that the income will be rt¢eJved wd the amount can be measured reliably. Fees receivable and charges for 5crvices and use of the prernisffj less any allowances. scholarships. bursaTies granted by the School agatnsi ihose fees. bui including conrributions re£eived frorn Tesrrieied funds. are accounted for in the period in which the Service 15 provided. Donarions for the Sch(Kbl's genernl purposes is a¢countrd for as unrestricted and is ¢rediied to ihe Gen¢rdl Fund. Where the donor or an appeal has IM irum law Teswiciions. volunwy Iorne is credited io ih¢ rekvant restricted fund. Investment incomc is crrdited to income when it is rtceivable and the amount can be measvttd reliably by the charity.. thi5 15 norrnally upon notification of the interest paid or payable by the bank. Government grant income represents the total amount claimed from HM Revenue and Customs under the Coronavirus Job Retention Scheme ICJRS). The income is accounted fi in the peri(MJ in which the &ssociated salary paymenis ar¢ made to fiArlou8hed stsff. Ig) Eip¢ndityr¢ Liabilities are recognised as expenditure as SC as th¢r¢ Js legal or constnjciive obli8aiion committing the School to that CKpenditurc, it is probable that settlement will be required and the amount of obligaiion can be measured reliably. Expenditure is recognised on an accruals basis as a liabiliry is in¢urre¢ inclusive of VAT. which cannoi be recovered. Chariiable activities costs represent costs directly ass(Kiated with the provision of education and related support Costs. Expenditure is allo¢aied io ¢a¢h expense headin8 on a direct cost basis. The irrecoverdble elernenl of VAT is in¢lud¢d with the ii¢m of ¢xp¢nse io which it relat Governance costs comprise thc costs of wnning the charily, In¢luding stTaiegic planning for Its filture development. external audit, any legal advicc for the School's Govemor% and all the Costs of complying with constiiuttonal and statutory requiremenis. such ihe cos15 of Board and Committee mttiings and of preparing siatutory a¢counis and satisfying public aw)untabiliry. (hl FIN*nee le4se$ Assets obtained under finance leases ale capitalised as tsngible assets. Finance leases are those where substantially all of the benefjis and risks of owneTship aTe assumed by the sch1. Obligations under such a8reernents are in¢lud¢d in ¢rediiors net of the finance charge5 allocated to future period5. The finance element of the rental payrnent is charged ro ihe Sthtement of Financial Activitie5 so a5 to produce a constant periodic rate of charge on th¢ net obligaiions ouistsnding In ea¢h period. Debtors Fee and other debtors are recognised at the stttlement amount due after any discount offered. PrepaymeThts are valued at the amount prepaid nei of any trade dis¢oJnis due_ (i) Cash at bank and in Cash ai bank and in hand includes bank accounts and c&th IAlances. 14
MOOR PARK cHATABLE TRUST LIMITED NOTES TO THE ACCOUNTS YEAR ENDED 31 AUGUST 2023 ACCOUTrTfING POLICIES l¢ontinued) Creditors &nd provisions Creditors and provisiLMS are w¢ognised where the charity has a Present obligatitsn reslllting fr¢m a past event that will probably result in the iransfer of fvnds io a thi party and the amount due to settle ihe obligation can be rnea5ured or estimaied re112bly. Creditor5 and provisions are normally recognised at their settlement amounl after allowing for any irk discounts duc. {m) Pension scheme Retirernent benefjts to employees of ¢he SchMI are provided through defjned contribution s¢hem¢s. The pension costs charged in the Statement of Financial Activtties are deiemiined as follows.. Teaching staff are ertrolled in an APTIS scheme with Aviva pays up to 15% of gross salaries into the scheme. Other staff are enrolled into the Schcrfjl's defined contriljution Scheme to which the SchLW)I contributes 50/0 of gross salary. (n) Funds Resiricttd fund5 are ih05e fijnds which are to be used ift accordanct wilh specific instructions imposed by the donor. UnTestri¢ted general fvnd5 8re funds that can k used in accordanct with the charitable objects at tht discretion of the Governots. CHARITABLE AcfiviTIES- FEES tiECEIVABLE 21123 2022 Fees receivable consist of.. Gross fees L¢ss.' schOlatshi bursaries and allowanccs 2,754.449 1533.418) 2.684.249 (465.317) 2.221.031 139.099 2.218,932 Add.. Scholarships. bJrsaries aThJ allowances £2.360.130 £2.218.932 ANALYSIS OF EXPENDITVRE-21123 SttfC05ts Other Deprecialion Ttstal Rgi5ing funds Financing costs- bank and Iwing iniertst 55,854 55,854 Charitable activiti¢¥ Educalion and grants Teachin8 CQSIS Welfare Premises Tick Tock Support costs and governanct Scholarships and bursaries payable 1,236.728 205.079 104,705 305,642 280,801 72,545 432,647 299,788 4,089 238,070 139,099 7,510 59,541 64,331 ,3 16,783 697,267 468,824 309,731 522,378 139,099 3.507 Total ch¥Jritable expenditure 2.132.955 1,186238 134,889 3,454.082 Total expenditure £2,132,955 £1.242,092 £134,889 £3,509,936 15
MOOR PARK CHARITABLE TRUST LIMITED NOTES TO THE ACCOUNTS (¢o#tilld) YEAR ENDED 31 AUGUST 2023 Governance cost5 included in support costs". 2023 21122 Remunerdtion paid to auditor for audit purposes (inclusive of VAT) Other fees payable io the auditor L¢gal and professional fe¢5 25,200 3,350 11,610 21.000 1,950 43,815 £40.160 £66.765 ANALYSIS OF EXPENDITURE- 2022 Staff Costs Other Deprecialio Total Raising funds Financing costs- bank and leasing inierey 40.864 40,864 Charitabl¢ a¢tiviti¢s Education and granis Teaching costs Welfare PTernise5 Tick Tock Support costs and governance 1.147.349 220.5 90.382 291.954 234.951 66.122 421.044 294.887 7.195 52,046 64.331 1.220,666 693.095 449.600 291.954 452.094 194.603 22.540 Total charitable expeThditure 1,984,641 976,656 146.112 £3,107,409 Total expenditure £1.984,641 £1.017.520 £146,112 £3,148,273 STAFF COSTS 2023 2022 Salartt5 and wages Social securtry C0515 Pension coniributhon 1.845.181 161.807 125,967 ,714.473 144.062 126,106 £2,132,955 £1,984,641 A8gre8ate employee benefits of key management personnel £447.661 £354.361 The average weekly number of employees was made up as follows: Teaching {includin8 Tick Tock) Oiher 2023 Nt). 2022 No. 46 39 43 37 85 80 I member of staff had mUneral10n beD¥een £60,¢X)0 - £70,0(X) and one had remuneration berween £80,(X>O £90,000 {2022 - one betwttn £60.(KJO - £70.0(N) and one between £80.000 - £90.0). The School also paid pension contributions of £14.677 (2022 - £18.572) in respect of these employees. PEP4SION SCHEME In the year ended 31 Augu512023. teaching staff participated in an APTIS scheme with Avtva that pays up io 150/f* of gTOSS salarie5 in io the scheme. Siaff are eniiiled 10 reque517Y• upwards of this coniiibuiion as part of their gross salary insread. Arnounis paid in the year 8m(NJnted io £108.280 (2022- £103.473). Amounts rijtalling £13.111 {2022.. nil) were owed at the year-end. 16
MOOR PARK CHARITABLE TRUST LIMITED NOTES TO THE ACCOUNTS (tonti*•ed YEAR ENDED 31 AUGUST 2023 PENSION SCHEME (continued) Oiher sratTare enrolled into the SCh].s defiTTrEd contribution scheme to which the sch(M)I contributes 5/a of gro salary equivalent to £17.687 in the year (2022 - £22.633). At the year-end £4.603 (2022 - £3,935) was accrued in respect of contributions to this scheme. GOVERNORS. REMUNERATION AND EXPENSES The sch1 obtained 5ndemnity Tn51JTartce for Governor5 from Hettle Andrews In5UTanee Broker5 With a limir of £2.000,000. The pr¢Tnium was pan of the public liability premium and is not separdiely identifiable. Neither the Governors persons connected with ih¢m received any remuneraiion. No 8ov¢rnor received reirnbursemeni of expen5e5 in the year (2022- none). TANGIBLE FIXED ASSETS Freehold Ftsrnitur< fixiures #nd ¢qyipme•i Motor Vehicles byildings Cfympuiers Total COST Ai I Sepiember 2022 Additions 3,044,994 1,378,601 63.421 313J44 244,037 70 4,980.976 64.712 At 31 Augu5r 2023 3,044.994 1,442.022 314.565 244,107 5,045.688 DEPRECIATION Ai I September 2022 Char8e for th¢ y¢ar 1,077235 64.331 872,960 59,541 297.492 7510 240.61 3,507 2,488.287 134,889 Ai 31 August 2023 1,141.566 932.501 305,002 244,107 2,623.176 NET BOOK VALUE At 31 Au8U5t 25 £l,Y)3,428 £509,521 £9,563 £2,422,512 At 31 August 2tr22 £1,967.759 £505,641 £15,852 £3,437 £2,492,689 The nei book value of assets held under finanee leases incluthd above total £17,920 (2022 £30,720) and depreciaiion charged amounted io £12.800 (2022- £12,81MJI- The freehold land and buildinBS sho%vn above was independently valued for bank purp05e5 as ai 30 September 2024 at £6.675k. This valuation has not been reflecttd in ihe a)ve figure5. There is a ehar8e on the freehold property &$ noted in n¢$ 9 and 10. 17
MOOR PARK CHA]UTABLE TRUST LIMITED NOTES TO THE ACCOUNTS {¢fJ•tinued) YEAR EfiDED 31 AUGUST 2023 DEBTORS 2023 21122 Fees and extrts in arrtars Prepayments and accrued income 38,945 72,068 30,438 82,0 £112.438 CREDITORS: am•nt5 falling due within year 2023 2022 Bank overdraft Bank loan Fees received in advance Other t&xcs and Sla1 security Other creditors Accruals and deferred income Obligaiions under finan¢e le&seS Composiiion f¢es 478,040 38,417 357,055 42.924 293.139 28.990 8,0(K> 169.499 306,584 37,035 393.623 42.303 180.769 17.050 8.0(M) 224.545 £1.416.064 £1,209.909 The bank overdraft f¥iliiy of £71XI.000 during ihis period was se¢ured on the Sth(KJl'$ freehold prortY. io. CREDITORS-duefttrmort iha year 2023 2022 Bank loan Obli8ations under finance leases Composition fees 579.307 64.0(X> 52,644 617.723 72,000 80,033 £695.951 £769.756 Obligations under ringnce leAse5 Cornposition fees Bank ion5 Total Amounts repayable= One io two years Beeen and five years After five year5 52.644 8.000 24.OlX) 32.0(M) 100,495 152.701 442.755 128.701 410,755 52.644 579,307 64,000 695,951 Amounts repayable after one year Amounts repayable within one year 52.644 169.499 579,307 38.417 64.000 8.000 695.951 215,916 £222.143 £617,724 £72,000 £911.867 The School's has a 15-year loan at a fixed Tate of 3.71% for the first 10 year5. The loan is sccured by a legal char8e on the Sch(x)I's freehold property. The School signed a fjnance le with the contactors who built the iardIng house and has an underlease with the tontacioTS allowing them io use the land on which Ihe boarding house has been buili. This lease expires in 2033, wheft the righis over ihe use of ihe land and owneTship of ihe property will Vert 10 Ihe School_ 18
MOOR PARK CHARITABLE TRUST LIMITED NOTES TO THE ACCOUNTS (eontinu¢d) YEAR ENDED 31 AUGUST 2023 f.nMPnSlTlnN FF.F.S Under the S¢hool's ¢omp)sition fee scheffte. ¢onNibttiors may enter Inio a coniracr to pay io th¢ School for tuition fees in advaNc¢. The liability is valued ai th¢ balance shttt date. but has been allocated assuming thai pupils will remain in the School for the n(Thal duraiion= 2023 2022 Movemenis duTing the year on ihe a¢crucd liabiliry under the ¢ontr&ts were.. Balance a¢ I Septetnk¢r 2022 New contracts 304.578 136.255 212,415 252,320 440.833 464.735 Amovnis urilised in p8ymeni of fees-. To the school Q18.6901 (160.157) £222.143 £304.578 12. FUNDS- 2023 Blnce I September 2022 B*l8nce 31 August 2023 Ineomt Expellditure Tr#n$fers RESTRICTED Bursary and Scholarship Fund Founders Bursary Fund Facilities Fund .Founders IT FuThJ Founders Uncommitted Fund Ukraine Fund (3,139) (24.760) (15.580) (10.400) (111.200) (23.628) 3,721 12.760 123.834 6250 12.(#)) 108,254 11s(4) 120.100 17.008 8,900 3,538 10.158 159.862 160,608 (188.707) 131.763 VNRESTRICTED FUNDS G¢n¢ral funds 466.754 3.159.554 (3.321.229) 305.079 £626.616 £3.320.162 3.509.936) £436,842 FUNDS- 2022 Bwlanee A Seplernber 2021 Balance 31 August 2022 In¢omt Expenditur¢ Tr40sfer$ RESTRICTED Bursary and Scholarship Fund Founders Bursary Fund Faciliries Fund Founders IT Fund Ukrain¢ Fund 889 10.505 123.834 5,971 2.255 6.860 12,760 123,834 6.250 10.158 1,250 13.000 (2.842) 140.228 22.476 (2.8421 139,862 uriRESTRICTED FUNDS General funds 689225 2.922.960 (3.145.431) 466,754 £829.453 £2.945.436 £(3.148273) £626,616 Expl#n#tion$ for reslrict¢d fuJbds- Bursary and S¢holarship Fund- funds have been given to allow the School io provid¢ bursaries and scholarships. Founders Bursary Fllnd - this is a new fund set up byAlumni which will fund specific buwsaries. Facilities fund- fu$ are given to improve the faciliiies of the Sch(M)l. Founders IT Fund- this is a fvnd to wber donations from alumni and i5 to be used towards IT costs. 19
MOOR PARK CHARITABLE TRUST LIMITED NOTES TO THE ACCOUNTS (¢O*linued) YEAR ENDED 31 AUGUSf 21123 Founders Uncommitted Fund- this 8 fund given f(r both bursaries and IT costs. Ukraine Fund - this fund Provides fuTwJing to support children dispersed from the Ukraine due to the conflict that Started in March 2022. 13. ANALYSIS OF NET AETs BY FUND- 2023 Unre5tritt¢d FuDd Rtricted Fuod5 2023 Fund balances at 31 Augu 2023 aye represented by.. Tan8ible fjxed assets Current assers Creditors- due within year Creditors- dv¢ after mort than one year 2.422,512 (5,418) (1,416,W) (695,951) 2,422,512 126,345 {1,416,0641 {695,951) 131.763 £305.079 £131.763 £436.842 ANALYSIS OF NET ASSETS BY FUND- 2022 Unrestricted Fund Restricted Funds Tot81 2(122 Fund balances at 31 Au8usI 2022 are represenied by.. Tangible fixed assets Cutteni asseis CreditO- due wiihbn one year Creditots- due after more than one year 2.492,689 (46.270) {1,209,909) (769.756) 2,492,689 113,392 (1,209,909) {769,756) 159,862 £466.754 £159.862 £626.616 14. TAXATION The company is a re8i5tcred charity and no taxation 15 payable on its irKoElle. 15. RELATED PARTIES A charitable trust. The Longville Foundation. of which the School's Chair and her husband are Ttustees. donated a 5urn of £25,0(K) to the SCh[.s Founders Fur. Consultancy fee5 totalling £570 were paid to G Sommer, Governor, in the year. There were no sums owin8 or owed ai the year-end in respect of ihese transactions. 16. OPERATING LEASE COMMrrMEpirs The CoMpY has ihe following iotsl commitments wider non-¢ancellable Ope(Ing leases in respect of its vehicks.. 2023 2022 AmoyDts due: Within l year Within one to two years Within two to five years 14.165 14.165 27,044 10.677 10,677 30253 £55J74 £51,607 20
MOOR PARK CHARITABLE TRUSf LIMITED NOTES TO THE ACCOUNTS l¢ontirtued) YEAR ENDED31 AUGUST 2023 17. STATEMENT OF FINANCIALACTIVITIES- 2022 Vnre5trt¢¢¢d Restricted TfJt#l 2022 INCOME FROM: Charitable #ctivitie5: Schth)I fees receivable rick Tk fee& di5burserneTbtS and extrts Doniion$ Government ETants {corn•avirus job Support scheme) Other trading acliviti¢s: Lettings Oiher.. Sundry income 2218.932 IA)7.403 7.632 2218,932 607,403 30.108 22.476 1.542 1,542 85.489 85,489 1.962 1.962 Tot¥41 Ineome 2,922.960 22,476 2,945,436 EXPENDITURE ON: Raising fuhds: Financin8 costs Charitable activitie5: Educoiioiy amlgront making Teaching cost5 Welfare c05t5 Premises costs Tick Tock costs Support and governance Costs 40.864 40,864 1,220,666 693.095 449.600 291,954 449,252 1,220,666 693,095 449,600 291,954 452,094 2,842 Tot1 expenditure 3,145,431 2,842 3,148.273 Plei lexp¢Trdilure)fincorn¢ for the year (222,471) 19,634 1202,837) Net moven*Dt ill (und$ {222,471) 19,634 1202.837) Reconcijiation in Funds Total fvnds brou8ht forward at I September 2021 689.225 140.228 829,453 Total funds Caled fonvard at 31 August 2022 £466.754 £159.862 £626,616 21