Charlty registration number 515073 (England and Wales}
Company registration number 01644174
BRANWOOD SCHOOL TRUST LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

BRANWOOD SCHOOL TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr T S Cramant
Mr M N Fletcher
Mr D M Taylor
Mrs J E Wilcox
Mr M Foster
Mr J Seddon
(Appointed 18 March 2024)
Charity number
515073
Company number
01644174
Registered office
Stafford Road
Monton
Eccles
Manchester
Auditor
BarlowAndrews LLP
Carlyle House
78 Chorley New Road
Bolton

BRANWOOD SCHOOL TRUST LIMITED
CONTENTS
Page
Trustees, report
statement of Trustees, rèsponsibilities
Independent auditols report
Statement of financial activities
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13-22

BRANWOOD SCHOOL TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report and financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charitable company's Memorandum and Articles of Association, the
Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in
the UK and Republic of Irèland {FRS 102) (effective 1 January 2019)..
Objectives and activities
The charitable company's objects are..
To establish and carry on the charity as a Preparatory School, where children may receive a sound education.
To establish and perpetuate a Preparatory School run in connection with. or independently of. any senior school
or college.
Br2nwood School Trust Limited operates as an Independent Preparatory School providing education to children
of both sexes from the age of 3 through to 11.
Each year the Trustees review the objectives and activities of the charity to ensure they continue to reflect our
aims and to provide public benefit. In setting our objectives and planning our activities. our Governors have given
careful consideration to the Charity Commission's general guidance and guidanGe on public benefit and in
particular in its supplementary public benefit guidance on advancing education and on fee charging. The
Trustees are more than satisfied that they do.
The Trustees and Govemors have discussed the objectives of the school and how it can best serve not only the
pupils and staff, but also the local community.
The Trustees are committed to ensuring Ihe provision of excellence in education at an affordable cost. The
Trustees are committed to offering scholarships as and when it is deemed feasible. and to assisting scholars as
and when it is thought fit and appropriate.
The school does not currently have a separate fund that would enable it to set up and maintain a system of
Bursaries. and as the Trustees, policy is to maintain fees for the school at a reasonable level, it is unlikely that
Bursaries can be offered in the short to medium term. The Trustees have publicised the facillties available at the
school to the local community and organisations, at a reasonable cost where the use is considered to be
appropriate and compatible.
Achievements and performance
The statement of financial activities is set out on page 10.
The Trustees are pleased to report that the school has ènjoyed another successful year, and despite the current
financial climate of economic uncertainty and inflationary pressures it has kept the reported financial deficit
before gains on investments to a minimum in the year and will be looking to further use the charitable company's
unrèstricted reserves to improve the school's facilities and enhance the charity's educational objectives over the
forthcoming years.

BRANWOOD SCHOOL TRUST LIMITED
TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Income generation
The charity's main income continues to be derived from its principle adivity of providing education services to
children. Fee income in the year increased to £1,292,219 from £1,148,404 in 2023. This was as a result of a
percentsge increase in school fees as well as a slight increase in pupil numbers.
Whilst the Trustees are mindful of the increasing pressures on parents, the charity is also faced with increasing
costs.
A comparison of fees with other educational establishments in the area has shown that the fees agreed by
Branwood School Trust are comparable. The Trustees review fees on an annual basis and will continue to do so
to ensure that the school provides an excellent all round education, enabling its pupils to progress to independent
grammar schools in the general Manchester area.
Resources expended
The charity adopts a strict control policy for expenditure. After approval by the school Governors.
recommendations are made to the board of Trustees to consider proposals for expenditure above a set criteria.
Staff remuneration is decided annually at Govemors, meetings.
The total expenditure on charitable activities in the year amounted to £1,444,846 (2023.. £1,289,139}. Of this,
salaries and associated costs for teaching and support staff amounted to £938,959 (2023: £864,655).
Thanks
The Trustees would like to express their thanks and appreciation to the Headteacher and staff for their dedication
and efforts towards the charity over the past year.
Reserves policy
It is the policy of the charitable company that unrestricted funds which have not been designated for a specific
use should be maintained at a level equivalent to a minimum of one term's budgeted expenditure.
At the balance sheet date the free reserves, which include the charity's investments, amounted to £488,837
(2023: £918,277), which is in line with the policy per above being a minimum of one term's expenditure {circa
£480k). Total reserves amounted to £2,212,822 (2023.. £2,204,429). Designated reserves amounted to
£1,723,978 (2023= £1,286,145) which relates to fixed assets held in the trust and amounts designated for
development of the building. Developments began in October 2023 and are expected to continue throughout
2024125, subject to the financial impact of the October 2024 budget on net reserves and pupil numbers.
Investment policy
The charity has invested money with Insignis Cash.
The Bursar and Chair of the Trustees manage investments via the Insignis platform. To minimise risk, deposits
arè limited to £85,000 per fin2n¢ial institution to ensure FSCS protection. The performance of investments was in
line with market conditions during the year and the Trustees are satisfied with the position at the year end.
Risk management
The Trustees have conducted a review of the major risks to which the charity is exposed and, where appropriate.
systems or prO￿dureS have been established to mitigate those risks by the implementation of procedures for
authortsation of all trans8Ctions. Procedures are in place to ensure compliance with health and safety of staff,
volunteers and visitors to the school.
In common with all other independent preparatory schools, the charitable company has been forced to register
for VAT from 1 January 2025 due to new government legislation. The Trustees have identtfied this as a risk to
income from school fees. However, whilst this is considered a risk, the managing of this transition is expected to
be absorbed by existing school fvnds and passing on the VAT increase, in some capacity, by increasing fees.

BRANWOOD SCHOOL TRUST LIMITED
TRUSTEES, REPORT {CONTINUED}{INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Future Plans
The Trustees are committed to maintaining Branwood School Trust as a successful educational resource, and to
developing both its facilities and links with the local community.
Whilst it is not possible to open the school facilities to members of the public during school time, the school has
engaged the services of Greater Manchester Community Lettings (GMCL) Ltd to encourage community use of
the school facilities. The uptake of the facilities has been promising, with the ha51 and astroturf pitches now being
let a number of evenings per week. The school also offers regular holiday camps for local children during closure
periods. The Trustees hope to build upon this success moving foNard.
structure, governance and management
The charitable company is a charitable limited company and was set up on 17 June 1982. It is governed by its
Memorandum and Articles ofAssociation which was last amended on 18 MarGh 2024.
The Trustees, who are also the directors for the purpose of company law, and who sewed during the year were..
Mr T S Cramant
Mr M N Fletcher
Mr D M Taylor
Mrs J E Wilcox
Mr M Foster
Mr J Seddon
{Appointed 18 March 2024)
Trustee recruitment, appointment and training
The recruitment and appointment of TrLJStees at Branwood School Trust Limited foSlows the conditions
established within th2 charity's memorandum and articles. Trustees are recruited to the board from a variety of
backgrounds and disciplines.
None ofthe Trustees has any beneficial interest in the company. All ofthe Trustees are members of the company
and guarantee to contribute £1 in the event of a winding up.
It is considered that the trust has sufficient lega5 and financial expertise to enable it to operate effectively and to
manage the charity's affairs appropriately. All Trustees have undertaken and successfully completed webinars in
line with ISI recommendations.
Organisation structure
The Trustees and Governors determine the general policy of the school. The day to day running of the school is
delegated to the Headteacher, supported by senior staff. The Head undertakes the key1È2dership role
overseeing educ2tional and administrative functions in consultation with senior staff. The day to day
administration of the school is undertaken within the policies and procedures approved by the Trustees which
provide for only significant expenditure decisions and major capital projects to be referred to the Trustees for
prior approval. The Head oversees the recruitment of all educational staff, whilst under delegated authority the
Bursar oversees the recruitment of administrative and non teaching support staff. The Head and Bursar are
invited to attend Trustee and Governors, meetings.
The Trustees discuss and agree pay and remuneration for all staff, including key management personnel, on an
annual basis. Pay increases are considered with regard to inflation rates and increases awarded in the state
sector, as well as "time served" experience.

BRANWOOD SCHOOL TRUST LIMITED
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Auditor
In accordance with the company's articles, a resolution proposing that BarlowAndrews LLP be reappointed as
auditor of the company will be put at a General Meeting.
Disclosure of Informatlon to auditor
Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
ch relevant information and to establish that the auditor is aware of such information.
The
eport was
proved by the Board of Trustees.
MrMN
Trustee
Dated.. 2
her
ary 2025

BRANWOOD SCHOOL TRUST LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees. who are also the directors of Branwood School Trust Limited for the purpose of company law, are
responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom GenerallyAccepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair
view of the state of affairs of the charitable Company and of the incoming resources and application of resources,
including thè income and expenditure. of the charitable company for that year.
In preparing these financial statements, the Trustees are required to-.
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether 8ppIiGable UK Accounting Standards have been followed. subject to any material departures
disclosed and explained in the financial statements. and
prepare the financial statem&nts on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charitsble company and enable them to énsure 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 prevention and éetection of fraud and other irregularities.

BRANWOOD SCHOOL TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BRANWOOD SCHOOL TRUST LIMITED
Opinion
We have audited the financial statements of Branwood School Trust Limited (the 'charitable company,) for the year
ended 31 Augusl 2024 which comprise the statement of financial activities. the balance sheet, the statement of cash
flows and notes to the financial statements, including significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards.
including Financial Reporting Standard 102 The Financial Reporting Standard applioable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financi81 statements..
give a true and fair view of the state of the charitable company's affairs as at 31 August 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 Kingdom Generally Accepted Accounting Practi￿.
and
have been prepared in accordance with the requirements of the CompaniesAct 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK} IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of
the financial staternents section of our report. We are independent of the charitable Company in accordance with the
ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant 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 Trustees with respect to going concem are described in the
relevant sections of this report.
other information
The other information comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the other information and, except to the extent
othemise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and. in doing so, consider whether the other infonTtation is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent rnaterial
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, wa are required to report that fact.
We have nothing to report in this regard.

BRANWOOD SCHOOL TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE MEMBERS OF BRANWOOD SCHOOL TRUST LIMITED
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the Trustees, report for the financial year for which the financial statements are
prepared. which includes the directors, report prepared for the purposes of company law, is consistent with the
financial statements. and
the directors, report included within the Trustees, report has been prepared in accordance with applicable legal
requirements.
Matters on whlch we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the
ourse of the audit, we have not identified material misstatements in the directors, report included within the
Trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us., or
the financial statements are not in agreement 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 information and explanations we require for our audit; or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantsge of the small companies, exemptions in preparing the Trustees, report and from
the requirement to prepare a strategic report.
Responsibilities of Trustees
As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are also the directors of the
charitable company for the purposè of company law, are responsible for the preparation of the financial statements
and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine ig
neGessary to enable the preparation of financial statements that are free from rnaterlal misstatement, whether due
to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the charitable Gompany or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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 an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements Can arise frorn fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design prO￿dureS in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-compliance with laws and regulations, was as follows:

BRANWOOD SCHOOL TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BRANWOOD SCHOOL TRUST LIMITED
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-complian￿ with applicable laws and regulations.
we idÈntified the laws and regulations applicable to the charitable company through discussions with
trustees and other management, and from our commercial knowledge and experience of the charity sector.
we focused on specific12ws and regulations which we considered may have 8 direct material effect on the
financial statements or the operations of the charity, including the Companies Act 2006 and the Charities
Act2011;
• we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management., and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an
understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud- and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships.
tested journal entries to identify unusual transaotions., and
assessed whetF7er judgements and assumptions made in determining the accounting estimates were
indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included. but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation.
reading the minutes of meetings of those charged with governance.,
enquiring of management as to actual and potential litigation and claims., and
reviewing correspondence with relevant regulators.
There are inhèrent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing stsndards also limit the audit procedures required to identify non-compliance with laws and regulations to
enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may
involve delibèrate Gon￿alment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at- https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.

BRANWOOD SCHOOL TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BRANWOOD SCHOOL TRUST LIMITED
Use of our report
This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's
memberg those matters we are required to state to them in an auditor's report and for no other purpose. To the
fullest extent permitted 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, forthis report, or for the opinions we
have fomied.
Paul Burton (Senior Statutory Auditor)
For and on behalf of BarlowAndrews LLP, Statutory Auditor
Carlyle House
78 Chorley New Road
Bolton
29 January 2025

BRANWOOD SCHOOL TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Income from:
Income from charitable activities
Investments
1.388,370 1.231,179
22.325
8,435
Total income
1,410,695 1,239,614
Ex
enditure on:
Expenditure on charitable activities
1,444,846 1,289,139
Net movement in funds before gains and losses on investments
(34,151)
{49,525)
Net gains/(losses) on investments
42,544
(10.280)
Net movement in funds
8,393
(59,805>
Fund balances at 1 September 2023
2,204.429 2.264,234
Fund balances at 31 August 2024
2.212,822 2.204,429
The statement of financlal activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities and relates to unrestricled funds.
The ststement of financial activities also complies with the requirements for an income and expenditure account
under the CompaniesAct 2006.
10-

BRANWOOD SCHOOL TRUST LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investments
11
12
1,473,978
536,145
1,038.261
1,473,978
1,574,406
Current assets
Debtors
Investments
Cash at bank and in hand
14
15
41.194
1,029,172
274,226
39,518
885,250
1,344,592
924,768
Creditors: amounts falling due within
one year
16
{605,748)
1294,745)
Net current assets
738,844
630,023
Total assets less current Ilabilities
2,212.822
2,204,429
Income funds
Unrestricted funds
Designated funds-
Tangible fixed assets
Development funds
1,473,978
250,000
536,145
750,000
19
1,723,978
488,837
1,286,145
918,277
General unrestricted funds
Share capital
2,212.822
2,204,429
2,212,822
2.204,429
The fin
tements wer
pproved by the Trustees on 29 January 2025
MrMNF
Trustee
er
Compan
istratlon No. 01644174
11

BRANWOOD SCHOOL TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
23
343,294
118,868
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of investments
Investment income received
(1,028,276)
1.080,805
22,325
(52,567)
8,435
Net cash generated froml(used in) investing
activities
74.854
(44,132)
Net cash generated from flnancing activities
Net increase in Cash and cash equivalents
418,148
74,736
Cash and cash equivalents at beginning of year
885,250
810,514
Cash and cash equivalents at end of year
1,303,398
885,250
Relating to:
Cash at bank and in hand
Short term deposits included in current asset
investments
274,226
885,250
1,029,172
12-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies
Charity information
Branwood School Trust Limited is a private company limited by guarantee incorporated in England and Wales.
The registered ofFice is Stafford Road, Monton, Eccl&s, Manchester.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charitable company's governing
document,
the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019)" The
charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company.
Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of
rtain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the
charitable company has adequate resources to continue in operational existence for the foreseeable future.
Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial
statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific
purposes. The purposes and uses of the designated funds are set out in the notes to the financial statèments.
1.4 Income
Income is recognised at fair value on a reGeivable basis and is reported gross of any related expenditure and
when the charitable company is legally entitled to it after any performance conditions have been met, the
amounts can be measured reliably, and it is probable that income will be received.
Income that is invoiced in advance or arrears is apportioned so that only that relating to the period of the
financial statements is included in income.
1.5 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which
can not be recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those
costs of an indireGt nature necessary to support them.
1.6 Tanglble fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
13-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (,CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies
(Continued)
Depreciation is recognlsed so as to write off the cost or valuatlon of assets less their residual values over their
useful lives on the following bases:
Land and buildings
Property improvements
Fixtures, fittings & equipment
Computer equipment
20/0 Straight line
100/0 Straight line
15% reducing balance
33 % straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs. and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impaimient of fixed assets
At each reporting end date. the charitable company reviews the carying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss lif any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
1.10 Financial instruments
The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company
becomes paty to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets. which include current asset investments, debtors and cash and bank balancès, are
initially measured at transaction price including transaction costs and are subsequently carried at amortised
cost using the effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
14-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies
{Continued}
Impairment of financial assets
Financial assets, other than those held at fair value through income and expenditure, are assessed for
indicators of impairment at each reporting date. Financial assets are impaired where there is objective
evidence that, as a result of one or mor& events that occurred after the initial reGognition of the financial asset,
the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present
value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss
is recognised in net incomel{expenditure} for the year.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the Gurrent carrying amount does not
exceed what the carrying amount would have been, had the impairment not previously been recognised. The
impairment reversal is recognised in net income/{expenditure) for the year.
BasiG financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the
arrangement constitutes a financing transaGtion, where the debt instrument is measured at thè present value
of the future payrnents discounted at a market rate of interest. Financial liabilities classified as payable within
one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade Creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charitable company's contractual obligations expire or are
discharged or cancelled.
1.11 Taxation
The company has charitable status and is thus exempt from taxation of its income and gains falling within
section 505 of The Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent
that they are applied to its charitable objectives.
1.12 Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in th& period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charitable company is
demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13 Retirement benefits
Payments to defined Gontribution retirement benefit schemes are charged as an expense as they fall due.
15-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Critical accounting estimates and judgements
In the application of the charitable company's accountlng policies, the Trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated 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 ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from charitable activities
2024
2023
School fees
School activities
Other income
1,292,219
87,546
8,605
1.148,404
77,515
5,260
1,388,370
1,231,179
Investments
2024
2023
Interest receivable
22,325
8,435
16-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Expenditure on charltable activities
2024
2023
staff costs
Depreciation and impairment
Recruitment costs
Establishment costs
Postage and stationery
Repairs and maintenance
Office expenses
Services and supplies
Transport and security
Advertising and promotion
Bad debts
Bank charges
Donations
Accountancy fees
Cost of trustee meetings
Legal and professional fees
Auditors, remuneration
938,959
90.443
2,946
54,135
6,877
86,973
6.850
177,919
23,225
9,362
5,121
3,986
66
9,865
879
20,340
6,900
864,655
58,534
3,430
44,116
5,950
95,907
7,797
150,701
23,690
5,119
1,724
1,187
8,741
217
11,071
6,300
Unrestricted funds
1,444,846
1,289,139
Governance costs
Governance costs of £6,90012023.' £6,300), being auditors, remuneration, are included within expenditure
on Gharitable activities.
Net movement in funds
2024
2023
The net movement in funds is stated after charging..
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
6,900
90,443
6,300
58,534
Trustees
None of the Trustees (or any persons Gonnected with them) received any remuneration or benefits from the
charitable company during the year.
Trustees, expenses
During the year trustees were reimbursed for a total of £879 relating to travel and catering expenses12023'.
£217).
17

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Teaching staff
Administration staff
Domestic staff
18
22
Total
32
33
Employment costs
2024
2023
Wages and salaries
Social security Costs
other pension costs
831,619
71,689
35,651
767,038
65,210
32,407
938,959
864,655
The number of employees whose annual remuneration was more than £60,000
is as follows:
2024
Number
2023
Number
£60,000- £69,999
Remuneration of key management personnel,
The remuneration of key management personnel is as follows-
2024
2023
Aggregate compensation
125,446
116,228
Gains and losses on investments
Unrestricted Unrestri¢ted
funds
funds
2024
2023
Gainsl(losses) arising on:
Revaluation of investments
Sale of investments
(10,280)
42.544
42,544
(10,280)
18-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
10 Taxation
The charity is exempt from taxation on ils activities because all its inGome is applied for charitable purposes.
11 Tangible fixed assets
Land and
Property
buildlngs improvements
Fixturgs,
fittings &
equipment
Computer
equipmènt
Total
Cost
At 1 September 2023
Additions
701,960
319,248
891,037
178,467
129,827
167,728 1.367,403
7,412 1,028,276
At 31 August 2024
701,960
1,210,285
308,294
175,140 2,395,679
Depreciation and impairment
At 1 September 2023
Depreciation charged in the year
378,846
14,035
171,205
56,755
139,117
6,490
142,090
13,163
831,258
90,443
At 31 August 2024
392,881
227,960
145,607
155,253
921,701
Carrying amount
At 31 August 2024
309,079
982,325
162,687
19,887 1,473,978
At 31 August 2023
323,114
148,043
39,350
25,638
536,145
12 Fixed asset investments
Listed
investments
Cost or valuation
At 1 September 2023
Gain on sale of investments
Disposals
1,038,261
42,544
11,080,805)
At 31 August 2024
Carrying amount
Al 31 August 2024
At 31 August 2023
1,038,261
19-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
13 Financial instruments
2024
2023
Carrying amount of financial assets
Debt instruments measured at amortised cost
Equity inslruments measured at cost less impairment
Instruments measured at fair value through profit or loss
288,905
896,695
1,038.261
1.029,172
Carrying amount of financial liabilities
Measured at amortised cost
605,748
294,745
14 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
14,679
9,567
1,878
28,073
26,515
41,194
39,518
15 Current asset investments
2024
2023
Unlisted investments
1,029,172
16 Creditors: amounts falling due within one year
2024
2023
Trade creditors
other creditors
Accruals and deferred income
72,879
387
532,482
25,989
198
268,558
605,748
294,745
Deferred income of £222,507 (2023: £226,581) is included in accruals and deferred income.
17 Retirement benefit schemes
2024
2023
Deflned contribution schemes
Charge to profit or loss in respect of defined contribution schemes
35,651
32,407
The charitable company operates a defined contribution pension scheme for all qualitying employees. The
assets of the scheme are held separately from those of the charitable company in an independently
administered fund.
-20-

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18 Share capital
2024
2023
Ordinary share capital
Issued and fully pald
7 Ordinary shares of £1 each
19 Designated funds
The income funds of the charity include designated funds.
The tangible fixed assets fund relates to the tsngible fixed assets held in the trust. As at 1 September 2023
the amount held in this fund was £536,145. During the year there was a net movement of £937,833, as a
result of significant fixed asset additions in excess of depreciation charged. At the year end the balance on the
fund was £1,473,978.
The second fund amounted to £750,000 at 1 September 2023 and related to amounts set aside for
expenditure on a new development. This was fully utilised during the year on fixed asset additions, as detailed
above. An additional £250,000 has been transferred to this fund from general unrestricted funds to be spent in
2024125.
20 Analysis of net assets between funds
Unrestricted
funds
2024
At 31 August 2024:
Tangible assets
Current assetsl(liabilities)
1,473,978
738,844
2,212.822
Unrestricted
funds
2023
At 31 August 2023:
Tangible assets
Investments
Current assetsl(li8bilities)
536,145
1,038,261
630,023
2,204,429
21

BRANWOOD SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
21 Operating lease commitments
At the reporting end date the charitable company had outstanding commitments for future minimum lease
payments under non-cancellable operating leases, which fall due as follows-
2024
2023
Within one year
Between two and five years
1,718
1.289
1,718
3,007
3.007
4,725
22 Related party transaGtions
During the year the charity made payments in respect of consultancy services of £14,400 (2023: £nil) to Mr M
Fletcher. This was in relation lo additional services provided to the charity in his role as a Trustee.
During the year the charity also made payments in respect of maintenance costs of £1,140 (2023.. £nil) to
Seddon Construction Limited of which Mr J Seddon rfrustee) is a Director.
No other disclos8ble related party transactions have been noted.
23 Cash generated from operatlons
2024
2023
Surplusl(deficit) for the year
8,393
(59.805)
Adjustments for:
Investment income recognised in ststement of financial activities
Gain on disposal of investments
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
(22,325)
(42,544)
(8,435)
10,280
58,534
90,443
Movements in working capital:
(Increase)Idecrease in debtors
Increase in creditors
(1,676)
311.003
1,082
117.212
Cash generated from operations
343,294
118,868
24 Analysis of changes in net funds
The charitable company had no material debt during the year.
-22-