Company Number: 1838655
Charity Number: 516113
The St Peter and St Paul School Trust
Annual Report and Flnancial Statements
Year Ended 31 August 2024

The St Peter and St Paul School Trust
Annual report and ffnancial statements for the year ended 31 August 2024
Contents
Pages:
Reference and administrative details of the charitable company* its trustees and
advTsors
2to8
Report of the trustees
9t012
Independent auditor5, report
13
Statement of financial actiVTties
14
Balance sheet
15
Statement of cash flows
16to26
Notes formlng part of the financial statements

The St Peter and St Paul School Trust
Reference and administrative details of the charltable companyp Its trustees and advisors for
the year ended 31 August 2024
Trustees
Mr5 K Denton - resigned 30 November 2024
Mr P Pollard
Mr C Ball
Mr C Burton
Revd P Coleman
Mrs A Catnm
Mr N Clarkson
Mrs C Kay
Mrs R Cockcroft - appointed 01 Septernber 2024
Mr T Watson-mitchell - appointed 01 September 2024
Head
Mr T Newton
Senior Leadership Team
Mr T Newton
Mrs A Austin
Mr S Nixon
Mrs G Horne
Mr E Gregory
Mr R A Castleton
Company registered
number
1838655
Charity registered number
516113
Registered Office
Brambling House
Hady Hill
Chesterfield
S41 OEF
Auditors
Harris & Co Limited
lknrland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW
Bankers
Lloyds Bank
Rose Hill
Chesterfield
S40 1LR

The St Peter and St Paul School Trnst
Report of the trustees (including directors, report) for the year ended 31 August 2024
The Board of Trustees submits its report, together with the financial statements for the year
ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting polices set out
in notes to the accounts and comply with the charitable company's governing document, the
Charities Act 2011 and Accounting and Report7ng by Charities: Statement of Recommended
Practice applicable to charities in the UK and Republic of Ireland (FRS102) published on 16 July
2014 (as amended by Update Bulletin 1 published on 2 February 2016).
Structure. Governance and Management
Governfng Document and Principal Activity
The principal activity is the operation of a primary school which dates to 1948. The charitable
company was Incorporated in England and Wales under the Companies Act In 1984. The school is
governed by its Memorandum and Articles of Association. The Liability of its members is limited
to £1 each by guarantee. The investment powers of the charitable company are set out in its
Memorandum and ArticLe5 of Association and aLlow the charitable company to borrow and invest
at the Board's discretion. In 2023124 the Chair was Mrs K Denton who stood down at the end of
her tenure in November 2024 being replaced by Mrs A Camm.
Governfng Body
The school is governed by the Board of Trustees, together with the Headteacher and Senior
Management, who are responsible for setting its strategic direction and for estabLishing policy.
The minimum number of Trustees is 5. No Trustee receives any remuneration from the school.
Trustees who have children attending the school are charged full fees.
Appolntment of Trustees
The Articles of Association of the Trust provide for the annual retirement of one third of the
Board and the appointment by election of their successors.
The Board contains a mix of parents from the school and members of the wider community. A
wide variety of professionals and an educatTonalist from outside this school serve on the Board.
The Board of Trustees operates the following sub-committees: Finance Sub-committee
(Chairman: Nick Clarkson), Education 5ub-Committee (Chairman: Revd Patrick Coleman), and
Estates and Health & Safety Sub-committee (Chairman: Chris Ball).
Trustee Induction
Trustees receive a letter of introduction together with copies of the Memorandum and Articles
of Association, a series of induction documents and earlier Board Minute5. Trustees attend
statutory training, including safeguarding, and are encouraged to attend other relevant train7ng
e.g. safeguarding, online-5afety and finance, which may be provided in house or by competent
external bodies, such as AGBIS for which the school has membership.
Organisational structure and decision rnakfng
The Board of Trustees meets at Least once each terrn. although in practice once each half-term,
(minimum of 3 times a year) and each fulL meeting is preceded by a meeting for each of the sub-
committees. The Finance Office provides cashflow against budget reports and Termly
Management Accounts for the Business & Finance sub-committee and for full Board M￿ting5.
Finance Sub-committee is responsible for planning the financlal sustainability of the school. The
Education Sub-committee is responsible for ensuring the curriculum offering and the standard of
education and monitoring meet the required standards and are continually developing. The
commlttee also has oversight of the pastoral and well-being provision of the school for both
pupiLs and staff. The Estates and Health & safety Sub-committee is there to ensure the Trust'5
main asset, its buildings, are properly utilised and maintained and that all who enter our
prem7ses are safe. Minutes of all sub-committee meetings are submitted to all tmstee5. Aims
and objectives are recorded in the Board Action Plan which is periodically reviewed.

The St Peter and St Paul School Twst
Report of the tru5tee5 (includlng dlrectors, report) for the year ended 31 August 2024
The day to day running of the school is delegated to the Head supported by the Senlor
Leadership Team who meet weekly during term time. They are also involved with one or more
of the Sub-committees providlng a direct link to the Trustees. They are responsible for ensuring
that the school works within the policies and procedures approved by the Trustees. The Head
oversees the recruitment of all staff and is invited to attend all trustee meetings.
Pay pollcy for senior staff
Reference is taken of pay scales within the state and private education sector on appointment
but is not a binding princlple. Consideration Is aLso given to experience and skills, and
preva7ling market rates. After appointment the remuneration is reviewed annuallyy taklng into
account performance. The judgement of perfomiance is under-pinned by setting of objectives
and revlew of achievement during the year.
Rlsk Management
The Trustees and staff team of the Trust have worked together to identify the major risks to
which the charitable company is exposed, reviewed the current systems and policies that
mitigate the risks and implemented a number of changes to further reduce the risks. The
Trustees are commltted to monitoring a risk register and to taking action (from a regularly
reviewed action plan), constantly to improve the management of the trust for all Its
stakeholders. The trustees are satisfied that the major risks identified, includlng the recent
imposition of 20% VAT on School Fees, business rates changes, national insurance rises and above
7nflation increase in the minimum wage, have been adequately mitigated where necessary. The
risks identified incLude academlc attainment, personnel matters, financial constraints,
government legislative change as above, operational and market factors.
Reserves Pollcy
As at the 31, August 2024 the charitable company had no restricted funds and so its total funds
of £702,717 (2023: £740,569) were all unrestricted. The forecast for 2024125 shows a surplus
position and whilst the 2025126 budget is currently break-even, the Board look forward to
working towards growing this into a modest surplus.
Alms, Objectlves and Prlncipal Activities
The objects of the school are speclfied in the Memorandum of Association. The principal activlty
of the charitable company continued to be the provision of educational facilities at St Peter & St
Paul School, Chesterfield. This is, however, set in the context of the broader goals we set for
the school and its pupiLs. In setting our objectives and planning our activities Trustees have
given careful consideration to the Charity Commission's general guidance on public benefit.
The Aims of the St Peter and St Paul khool Trust are to provide the best:
Standard of Education
Standard of Care
Opportunities
Preparation for life for pupils
Investment for parents

The St Peter and St Paul School Trust
Report of the trustees (including directors. report) for the year ended 31 August 2024
Revlew of Actlvltfes and Achlevements
Academic
SPSP continues to perform competitively versu5 local state primary schools and independent
schools. The school took part in external SAT'S at Year 6. 100% of pupils met or exceeded the
expected national standard in reading, 94% met or exceeded the expected National standard in
Grammar, punctuation and spelling, 80% met or exceeded the expected National Standard in
Mathematics. 100% of pupils met the national expected standard in writing and also in Science.
Year one took part in internal phonics screening with a 94% pass rate. All children in Years 1
contlnue to be assessed through the Rising Stars Assessments on a termly basis with data used to
further inform planning and intervention in the quest to further raise attainment.
All but one pupil Year 6 were awarded their first-choice secondary school. The school ha5
continued to develop its academic programme with a focus on reviewing the Mathematics
curriculum, introducing a new scheme and online platform to further sUPPOrt learning in this
area of the curriculum.
The curricuLum continues to be reviewed on an ongoing basis to ensure that it is relevant and
appropriate to our pupils and a development plan for further improvements is in place.
Music and Drama
Parents. Assemblies, musical concerts and drama performances occur frequently throughout the
year with all children given the opportunity to perform in a varlety of contexts. Individual music
lessons continue in person with children taking up new instruments and preparing to take ABRSM
music exams throughout the year in at least seven different instruments.
Sport remaTns a significant part of school life. Children continued to enjoy a balanced
programme of sport and PE taught by specialist teachers. Swimming is taught throughout the
school from Reception Cla55. The children take part in regularly inter school fixtures from year
3-6 as well as wider events like interhouse cross country and an annual sports, day. Plans for the
new MUGA pitch look to be positive since Sports England's recent removaL of objections and the
Spring of 2025 is looking to positiveLy enter the planning process.
Life skills
The Life Skills curriculum has been redesigned and now features a bi-annual rolling programme
of Life Skill5 including, swimming, mini first aid, young enterprise, forest school, finance for
children, wellbeing, team building, Nutrition, Eco and sustainability for all pupils in KS2.
The essential maintenance was carried out to our own climbing wall which is a feature of the
schools. new enrichment offer.
The annual residential and activity week for all pupils was a success and Forest School continue5
to be taught weekly to Reception, Year 1 and Year 2.

The St Peter and St Paul School Trust
Report of the trustees (including directors, report) for the year ended 31 August 2024
Facilities
Our investment in IT continued with new IPAD'S for Reception to Year 3. We continue to invest
in prograrnmes such as 'MyConcern' and teaching programmes to enhance the academ7c and
pastoral support for our children.
Bursa
Awards
The trustee tearn continue to view Bursary awards as critical in ensuring that children from
families who would otherwise not be able to afford independent education can access the
education we offer. Our Bursary Awards are available to aLI who meet our general entry
requirements and are made on the basis of parental means or to relieve hardship where a pupil's
educatTon and future prospects would otherwise be at risk, for example in the case of
redundancy. Bursary awards range from 10% to 30% remission of fee5. Bursaries are awarded on
an annual basis and are subject to an annual review. Our process is based on the guidance from
ISBA. Our bursaries and scholarships comprise approx7mately 4% of our total fees.
To underline the value we place on continuity for familles, we offer discounts where parents
have more than one child at schooL.
The value of all bursaries in the year were £43,367 (2023: £56,963) and as a result we were able
to support 14 (2023: 18) pupils through our bursary scheme. Bursaries are reviewed on an annual
basis during the Spring term and are approved by a Bursary Committee.
enditure
Rigorous cost controls have again ensured that the finances of the school are in line with what is
needed to ensure sustainabiLity. Expenditure for 2023-24 has remained tishtly controlled and are
at a level that will ensure continuity based on a minitnum baseline of pupil numbers. The school
roll was 111 during the academic year.
Public Benefit
The trustees are fully aware of their restM)nsibilities under the Charities Act 2011 to
demonstrate the public benefit provided. This is an area under constant review and will
continue to be improved wherever thi5 is possible without detractlng from the objectives of the
school.
St Peter & St Paul Sch(M)l is a charitable trust which seek5 to benefit the public through the
pursult of its stated alms. The school benefits society by educating children from all
backgrounds and intellectual abilities. The school is broadly non-seLective by academic ability.
Our fees are set at a level to ensure the financial viability of the school and at a level that is
consistent with our aim of providing a f7rst-class education to all our pupils. As an equal
opportunity organisation, we are committed to a working environment that is free from any
form of discrimination on the grounds of colour, race, ethnicity? religion, sex, sexual orientation
or disability. We will make reasonable adjustment to meet the needs of staff or pupils who are
or become disabled.

The St Peter and St Paul School Trust
Report of the trustees (Includlng directors, report) for the year ended 31 August 2024
Public Benefit continued
Access to the education we offer is not restricted to those who can afford our fees. We believe
our pupils benefit from learning within a diverse community. A great deal of learning occurs
through social interaction, conversation and shared experiences which help our pupils develop
an understanding of the world around us. The Trustees have always given consideration to
applications from parents who are unable to pay full fees and this is formalised under the
School's Bursary Scheme to ensure that education at St Peter and St Paul is made available to
some pupils who would otherwise be unable to afford it.
The Trustees believe in the importance of the school's reLationship and involvement with the
local comrnunity. Pupils at our school are encouraged to become engaged with the community
by supporting charities both local and national. We are actively involved in our local NHS
hospital and the Crooked Spire Church and Parish. When appropriate our local community are
invited to attend events held at SPSP.
Volunteers
Our parent body (Friends of SPSP) have been instrumental in raising funds for the school with a
range of events. The Board would like to take this opportunity to thank all parents and Friends
of SPSP for their continuing and valuable support.
Flnancial Revfew
The school's financial year is set to coincide with the academic year, running from 1
September to 31, August each year. The account5 for the year ended 31" August 2024 are
included below.
The school Is self-financing; the only income being from fee5 paid by parents, after-school clubs
and hire charges for use of school building by other organisations. Our aim is not to produce a
profit, but when any surplus is made, it will be used to fund the immediate and future
operations of the school and any developments.
As an educat70nal charity we received tax exemption in the year 2023124 on our educatTonal
activities provided these are applied to our charitable aims. However, we are unable to reclaim
VAT on our costs as we are exempt for VAT purposes. In addition, we pay national insurance
contributions as an employer.
This year the school educated 111 children. This saved the public purse £772,560 assuming an
estimated cost of £6,960 per pupil for state education which frees this amount for spending
elsewhere in the public sector.
During the year, the school made a net loss of £37,852 (2023: £64,309 surplus). Unrestricted
funds carried for*iard are £702,717 (2023: £740,569).

The St Peter and St Paul School Trust
Report of the trustees (including dirertor5' report) for the year ended 31 August 2024
Going Concern
The charitable company has made a net loss of £37,852 in comparison to a surplus of £64,309
(2023) and the trustees have taken steps to ensure costs are tightly controlled while specifically
increasing the revenue streams for the charitable company and again projecting a surplus in
2025126.
The charitable company has prepared detailed flnanclal forecasts to August 2026 based on
signed up pupll numbers, revenue streams and known costs. The latest management accounts
show the financial results are in line with the charltable company's forecasted results. The
cashflow forecasts shows the school can work within the available overdraft limit and the bank
has agreed to continue the provision of the overdraft facility.
After making appropriate enquiries, the trustees have a reasonable expectation that the school
has adequate resources to continue in operational existence for the foreseeable future. For this
reason, they continue to adopt the going concern basis in preparing the financial statements.
Further details regarding the adoption of the going concern basis can be found in the accounting
policies.
Plans for Future Period5
The Trustees intend to contlnue their current strategy of investing in high quality education for
our pupils to build on current success. They intend to maintain the school's position in a
competitive market by exploiting the school's continued improved performance, optimising the
strengths of the leadership team and achieving a high standard of academic results whilst
maintaining the depth of the education provided. Future plans continue to include the
improvement of the infrastructure of the school including classroom facilities for future pupils
whilst improving standards for current pupils who benefit from investments made in the past.
The positive development with Sport England pushes forward the MUGA development into
delivery In 2025126.
Trustees, re5ponslbllltfies fn relatlon to the financial statements
The Trustees (who are also directors of The St Peter and St Paul School Trust for the purposes of
company law) are responsible for preparing the report of the Trustees and the financial
statements in accordance with appLicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice).

The St Peter and St Paul School Trust
Report of the trustees (Including directors, report) for the year ended 31 August 2024
Trustees, responslbllltles in relation to the fSnandal statements continued
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 charltable company and of the profit and
loss of the charitable company for that period. In preparing those financial statements, the
Trustees are required to:
Select suitable accounting policies and then apply them conslstently;
Observe the methods and principles in the Charities SORP 2015 (FRS102)'
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK accounting standards have been followed, subject to any
material departures disclosed and expLained in the financial statements.
Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company WILI contlnue in bus7ness.
The Trustees are responsible for keeping adequate records, which disc105e with reasonable
accuracy at any time the financial position of the company and to enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Disclosure of Information to the auditor5
We, the directors of the charitable company who held office at the date of approval of these
financial statements as set out above each confirm, so far as we are aware, that:
There is no relevant audit information of which the charitable company's auditors are
unaware. and
We have taken all reasonable steps that we ought to have taken as directors in order to
make ourselves aware of any relevant audit information and to establish that the
company's auditors are aware of that information.
The Trustees report was approved by the Trustees on 6 May 2025
y order of the Board
Mrs A Camm
Chair of Trustees

The St Peter and St Paul School Trust
Independent Auditors, Report to the Trustees of The St Peter and St Paul School
Opinion
We have audited the financial statements of The St Peter and St Paul School Trust (the
'charitable company,) for the year ended 31 August 2024 which comprise the Statement of
Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial
statements, including a summary of significant accounting policies. The financial reporting
framework that has been applied Tn their preparation T5 applicabLe law and United Kingdorn
Account7ng Standards, including Financial Reportlng Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial 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 Kingdotn Generally Accepted
Accounting Practice" and
have b￿n prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK))
and applicable law. Our responsibilities under those standards are further described in the
Auditors. responsibilities for the audit of the financial statements section of our report. We are
independent of the charitable company in accordance with the ethical requ7rements 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 responslbilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statements, we have concLuded that the trustees, use of the going
concern basis of accounting in the preparation of the flnancial 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 CoMpan￿S ability to continue as a going concern for a period of at least twelve
months from when the financial statements are authorised for i￿ue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the
Information in the Report of the trustees but does not include the financiaL statements and our
Independent Auditors. Report thereon.
Our opinion on the financial statements d￿5 not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon.

The St Peter and St Paul School Trust
Independent Audltors, Report to the Trustees of The St Peter and St Paul School
In connect70n with our audlt of the financial statements, our responsibillty is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained in the audit or otherwise appears to be
materially mTSStated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatetnent
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, we are required to report that
fact. We have nothing to report in this regard.
Opinfons on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Report for the fTnancTal year for whlch the
financial Statements are prepared is consistent with the financiaL statements; and
the Trustees Report has been prepared in accordance with applicable legal requirements.
Matter5 on whlch we are required to report by exceptlon
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the
Trustees Report.
We have nothing to report in respect of the following matters where the Companies Act 2CM)6
requires us to report to you if, in our oplnS0n:
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 requ7re for our audit.
Re5ponsibilfties of trustees
As explained more fully in the Statement of Trustees, Responsibilities set out on page 8, the
trustees 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
necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charltable
company's ability to continue as a g07ng 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 company or to cease operations, or have no realistic alternative but
to do so.
10

The St Peter and St Paul School Trust
Independent Auditors, Report to the Trustees of The St Peter and St Paul School
Audltors. responslbllltles for the audlt of the financial statements
Our objectives are to obtain reasonable assurance about whether the flnancial statements as a
whole are free from materlal misstatement, whether due to fraud or error, and to issue an
Independent Auditors, 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 from fraud or
error and are considered material if, individuaLly or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial
statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to detect material
misstatements in respect of irregularities, including fraud. The extent to which our procedures
are capable of detecting irregularit7es, including fraud is detailed below:
Identlfyfng and assesslng potential risks related to irregularities
In identifying and assessing risks of material misstatement In respect of irregularities, including
fraud and non-compliance with laws and regulations, our procedures included the following:
Enquiring of management, including obtaining and reviewing supporting documentation,
concerning the company's policies and prcKedures relating to:
Identifying, evaluating and complying with laws and regulations and whether they were
aware of any Instances of non-compliance.
Detecting and responding to the risks of fraud and whether they have knowledge of any
actual, suspected or alleged fraud"
The internal controls established to mitigate risk related to fraud or non-compliance with
laws & regulations.
Obtaining an understanding of the legal and regulatory frameworks that the charitable
company operates in, focusing on those Laws and regulations that had a direct effect on
the financial statements or that had a fundamental effect on the operations of the
company. The key laws and regulations we considered in this context included the UK
Companies Act 2006, Charities Statement of Recomrnended Practice, UK financial
reporting standards as issued by the Financial Reporting Council, employment,
environmental and health and safety legislation.
Audit response to risks identified
To address the risk of fraud through management override of controls, we:
Performed analytical procedures to identify any unusual or unexpected relationships that
may indicate risk of material misstatement due to fraud;
Tested the appropriateness of journal entries and other adjustments.
Assessed the judgements used in accounting estimates to assess whether these may be
indicative of potential bias; and
Evaluated the business rationale of any significant transactions that are unusual or
outside the normal course of business.
To address the risk of irregularities and non-compLiance with laws and regulations, we deslgned
procedures that included, but were not limited to=
Reviewing the financial Statement disclosures and testing to supporting documentation to
assess compliance with relevant laws and regulations;
Enquiring of management as to actual and potential litigatlon and cLa7ms'
Reading the minutes of meetings of those charged with governance.
Reviewing correspondence with relevant regulators and the charity's legal advisors as
necessary.
11

The St Peter and St Paul School Trust
Independent Audltors, Report to the Trustees of The St Peter and St Paul School
Because of the inherent limitatTons of an audit, there is a risk that we will not detect all
Irregularities, including those leading to a material misstatement in the financial statements or
non-compliance with regulation. This risk increase5 the rnore that compliance with a law or
regulation is removed from the events and transactions reflected in the financial statements, as
we will be less likely to become aware of instances of non-compliance. The risk is also greater
regarding irregularities occurring due to fraud rather than error, as fraud invoLves intentional
concealment, forgery) collusion, omission or misrepresentation.
A further description of our responsibilities 15 available on the Financial Reporting Council's
website
at:
htt :I/v￿w.frc.0r
.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-
uidancelStandards-and- uidance-for-auditors/Auditors-res
onsibilities-for-auditlDescri
tion-
of-auditors-res
nsibilities-for-audit.as
x. This description forms part of our auditorfs report.
Use of our report
This report is made soleLy to the charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members those matters we are required to state to
them in an Auditors. Report and for no other purpose. To the fullest extent permltted by law, we
do not accept or assume responsibility to anyone other than the charitable company and the
charitable company's members as a body, for our audit work, for this report, or for the opinions
we have formed.
r C4.
lan Bragger FCA (Senior Statutory Auditor)
for and on behalf of Harris & Co Lim7ted
Chartered Accountants & Statutory Auditor
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW
01 181¥
12

The St Peter and St Paul School Trust
Statement of financlal actlvitles for the year ended 31 August 2024 (incorporatlng an Income
and expenditure account)
Note
Total funds
Total funds
(All unrestricted) (All unrestricted)
2024
2023
Income from:
Donations and legacies
Charitable activities
Other trading activitles
2,363
1,243,083
70,163
320
1,226,005
70,768
Total income
1,315,609
1,297,093
Expenditure:
Charitable activities
1,353,461
1,232,784
Total expenditure
1,353,461
1,232,784
Net surplus/(deficit) before other
recognised gains and losses and net
movement in funds
(37,852)
64,309
Reconciliation of funds (unrestricted):
Total funds brought forward
740,569
676,260
Total funds carried for¥Yard
702,717
740,569
The notes on pages 16 to 26 form part of these financial statements.
13

The St Peter and St Paul School Trust
Balance sheet at 31 August 2024
Company number 1838655
Note
2024
2023
Fixed assets
Tanglble assets
10
1,137,395
1,149,265
Current assets
Stock
Debtors
Cash at bank and in hand
11
12
25,217
239,161
337,473
26.236
261,369
299,989
601,851
587,594
Credltors: amounts falllng due
within one year
13 (769,425)
(729,9451
Net current liabllities
(167,574)
(142,351)
Total assets less current liabllltles
Creditors: amounts falling due
After more than one year
969,821
1,006,914
14
(267,104)
(266,345)
Net Assets
702,717
740, 569
Funds
Unrestricted funds
702,717
740,569
The directors acknowledge their responsibillties for complying with the requirements of the
Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small
cornpanTes subject to the smaLI companies, regime and in accordance with FRS102 SORP.
The financial statements were approved and authorised for issue by the Board on 6 May 2025
signed on their behalf by:
Mrs A Camm
Trustee
The notes on pages 16 to 26 form part of these financial statements.
14

The St Peter and St Paul School Trust
Statement of cash flows for the year ended 31 August 2024
2024
2023
Cash flow from operating actlvltle5
Net cash generated l{used) In operating Seebelow
activities
77,059
89,630
Cash flows from investing activities
Purchase of tangible fixed assets
Proceeds on sale of tangible fixed assets
(5,507)
(24,084)
Net cash used in investlng act1vltles
(5,507)
24,084
Cash flows from flnancing activities
Loan repayments
Cash from new borrowings
{34,068)
(32,089)
Net cash generatedl(used) In flnanclng
activities
(34,068)
{32,089)
Change in cash and cash equivalents in the year
37,484
33,457
Cash and cash equivalents brought forward
299,989
266,532
Cash and cash equivalents carried fOr￿ard
See below
337 473
299,989
Reconclllatlon of net movement In funds to net cash flow from operatlng actfvltles
Net surplus1(deficit) for the year {as per
statement of financial activities
Depreciation charge
{Increase)/decrease in stocks
{Increase)/decrease in debtors
Increase/(decrease) in creditors
(37,852)
17,377
1,019
22,208
74,307
64,309
16,269
5,533
(40,080)
43,599
Net cash provided by operating activities
77,059
Analysls of cash and cash equivalents
Bank and Cash in hand
Overdraft repayable on demand
337,473
299,989
Net cash and cash equivalents
337 473
299 989
15

The St Peter and St Paul School Trnst
Notes forming part of the flnanclal statements for the year ended 31 August 2024
Accountlng policie5
1.1 Basls of preparation of financial statements
The charitable company constitutes a public benefit entity as defined by FRS102. The
financial Statements have been prepared in accordance with Accounting and Reporting by
Charities: Statement of Recomrnended Practice applicable to charities preparing their
account5 in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS102) issued on 16 July 2014 (as updated through Update Bulletin 1
published on 2 February 2016), the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland {FRS102), the Companie5 Act 2006 and UK Generally
Accepted Practice.
The financial statements are prepared under the historical cost convention. The financial
statements are presented in sterling which is the functional currency of the charity and
rounded to the nearest £.
The significant accounting policies and key judgements and estimates applied in the
preparation of these financial statements are set out below, These accounting policies
and key judgements and estimates have been consistently applied to all years presented
unless othepNise stated.
1.2 Company status
The charitable company is a company limited by guarantee. The members of the company
are the trustees named on page 1. In the event of the charity being wound up, the
liability in respect of the guarantee is limited to £1 per member of the company.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the
trustees in furtherance of the general objectives of the charity and which have not been
designated for other purposes.
The charitable company currently has no restricted funds.
1.4 Going concern
The charitable company has reported a deficit of £37,852 during the year and at 31
August 2024 (2023: £64,309 surplus) and had net current liabilities of £167,574 (2023:
£142,351) (an increase of 18% compared to the prior year). The Trustees have taken
steps to ensure costs are tightly controlled while increasing the revenue streams for the
charitable company.
The charitable company has prepared detailed financial forecasts to August 2025 based on
signed up pupil numbers and known cost5. The latest management accounts show the
financial results are in line with the charitable company's forecasted improved results.
The cashflow forecasts shows the school can work within the available overdraft limit and
the bank agreed to extend the provision of the overdraft facility in July 2024. Whilst the
overdraft is due for review in July 2025, the bank has previously been very supportive and
in view of the recent improvement in the financial position, and continued strong cash
position, the Trustees believe that facilities will continue to be made available beyond
the review date.
After making appropriate enquirles, the trustees have a reasonable expectation that the
school has adequate resources to continue in operational existence for the foreseeable
future. For this reason, they continue to adopt the going concern basis in preparing the
financial 5tatementS.
16

The St Peter and St Paul School Trnst
Notes formlng part of the flnanclal statements for the year ended 31 August 2024
(continued)
Accountlng policies (continued)
The Trustees and staff team of the Trust have worked together to identify the major
risk5 to which the charitable company is exposed, reviewed the current systems and
policies that mitigate the risks and implemented a number of changes to further
reduce the risks. The Trustees are committed to monitoring a risk register and to
taking action (from a regularly reviewed action plan) constantly to improve the
anagement of the trust for all its stakeholders. The trustees are satisfied that the
major rlsks identified, including the recent imposition of 20% VAT on School Fees,
Business Rates changes, National Insurance rises and above inflation increase in the
minTmum wage, have been adequately mitigated where necessary. The risks
identified include academic attainment, personnel matters, financial constraints,
Governmental legislative change as al)ove, operational and market factors.
Income recognition
All income is recognised once the charitable company has entitlement to the income,
it is probable that the income will be received and the amount of income receivable
can be measured reliably.
Income from charitable activities consists of fee charges billed, on a termly basis, less
bursaries and other discounts. Fees are recognised in line with the term to which they
relate. It also includes income from school trips, music lessons and school clubs.
For donations to be recognlsed the charitable company will have been notified of the
amounts and the settlement date in writing. If there are any conditions attached to
the donation and this requires a level of performance before entitlement can be
obtained, then income is deferred until those conditions are fully met or the fulfilment
of those conditions is within the control of the charitable company, and it is probable
that they will be fulfilled.
Income from trading activities includes income from the shop uniform shop, breakfast
and holiday clubs and rent to raise funds for the charitable company. Income is
received in exchange for supplying goods or services fn order to raise funds and is
recognised when entitlement has occurred.
Interest income is recognised as the charitable company's right to receive payment Ts
established.
Expenditure recognition
Expenditure is recognised once there is a legal or constructive obligation to transfer
economic benefit to a third party, it is probabLe that a transfer of economic benefits
will be required in settlement and the amount of the obligation can be measured
reliably.
Support costs are those costs incurred directly in support of expenditure on the
objects of the charitable company.
Costs of raising funds are costs incurred in attracting voluntary income, and those
incurred in trading activities that raise funds.
17

The St Peter and St Paul School Trust
Note5 formlng part of the financlal statements for the year ended 31 August 2024
(Continued)
Accounting policies (Contlnued)
Charitable activities and governance costs are costs incurred on the charitable
company's educatlonal operations, including support costs and costs relating to the
governance of the charity apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
Tangible flxed assets and depreciation
Items costing more than £500 are capitalised, amounts less than this may be
capitalised if part of a specific project.
review for impairment of a fixed asset is carrfed out if events or changes in
circumstances indicate that the carrying value of any fixed asset may not be
recoverable. Shortfalls between the carrying value of fixed assets and their
recoverable amounts are recognised as impairments. Impalrment losses are
recognised in the statement of financial activities Incorporating income and
expenditure account.
Tangible fixed assets are stated at cost or valuation, net of depreclatlon and any
provision for impairment. Freehold land and buildings are depreciated to reduce the
value in the accounts to residual value over its estimated useful Life. Based on this
residual value, no depreciation is currently charged on land and buildings.
Depreciation on other tangible fixed assets is caLculated in order to write off the cost
of each asset, less thei r estimated residual value, over its estimated useful life using
annual rates as follow5:
Temporary buildings
Furniture and fittings
Computer
over 15 years straight line
15% straight line
25% straight line
As permitted under FRS102, the charitable company has elected not to adopt a policy
of revaLuation of tangible fixed assets. The charitable company will retain the book
valuation of the land and buildings based on historical cost.
Operating lease rentals
Rentals under operatlng leases are charged to the Ststement of Financial Activities on
a straight-line basis over the lease term.
Stocks
Stocks are valued at the lower of cost and net realisable value after maklng due
allowance for obsolete and 5low-moving stocks. Costs includes all direct costs.
1.10 Debtors
Trade and other debtors are recognised at the settlement amount after any discount
is offered. Prepayments are valued at the amount prepaid net of any discounts due.
1.11
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly Liquid investments with
a short maturity of thr& months or less from the date of acquisition or opening of
the deposit or similar account.
18

The St Peter and St Paul School Trust
Notes formfjng part of the finandal statements for the year ended 31 August 2024
(Continued)
Accountlng polfcles (Contlnued)
1.12
Llabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a
result of a past event, it is probable that a transfer of economic benefit W7ll be requTred
in settlement, and the amount of the settlement can be estimated reliably. Liabilities
are recognised at the amount that the charitable company anticipates it will pay to
settle the debt or the amount it has received as advance payments for the goods and
services it rnust provide. Provisions are measured at the best estimate of the amounts
required to settLe the obligations. Where the effect of the time value of money is
material, the provision is based on the present value of those amounts, discounted at
the pre-tax discount rate that reflects the risks specific to the liabilTty. The unwinding
of the discount is recognised w7thin interest payable and similar charges.
Financial instrument5
The charitable company has only financial assets and finarbcial liabilities of a kind that
qualify as basic financial Instruments. Basic financial instruments are initlally
recognised at transaction vaLue and subsequently measured at their settlement value
with the exception of bank loans whTch are subsequently measured at amortised cost
using the effective interest method.
Employee benefits
Deflned contributlon pension scheme
The school contributes to a defined contribution pension scheme for the benefit of the
salaried teaching and salaried non-teaching employees. The pension costs charged
against net incoming resources are the contribution payable to the defined contribution
schemes in respect of the accounting period in accordance with FRS102.
1.13
1.14
1.15 Terminatlon benefits
Termination benefits are employee benefits payable as a result of the school's decision
to terminate an employee's employment before the normal retirement date.
Prior year adjustment
A prior year adjustment has been made to the 31 August 2023 figure5 reported
regarding the presentation of staff costs to reclassify costs of £86,199 from teaching
staff costs to support and governance staff costs. This has impacted note 6 on page 21
as folLows:
1) Reduction to Teaching staff costs by £86,199
2) Increase to Share of support costs by £84,894
3) Increase to Share of Governance costs by £1,305
In addition, these above adjustments have also resulted in an increase to Salarles,
wages and related costs by £86,199, shown in note 7 on page 21 .
19

The St Peter and St Paul School Trust
Notes forming part of the flnancial statements for the year ended 31 August 2024
(Continued)
Income from donations and legacies
2024
2023
Donations and legacies
2,363
320
Income from charltable activities
2024
2023
Fee income
Discounts and bursaries
1,227,678
(96,105)
1,233,107
1110,329)
Fee5 for other activities
111,510
103,227
Net fees
1,243,083
1,226,005
Other tradfng activitie5
2024
2023
Income from school uniform shop
Rent received
Holiday and breakfast clubs
16,912
46,391
6,860
16,617
42,951
11,200
70,163
70,768
20

The St Peter and St Paul School Trust
Notes formlng part of the flnanclal statements for the year ended 31 August 2024
(Continued)
Expendlture on charftable activities
2024
2023
(Restated
Costs of running the School
Teaching staff costs
Staff tralning and welfare
Dlsbursements
Event costs
Uniform shop purchases
Rent, rates and water
Grounds costs
Light and heat
Insurance
Repairs, renewals and cleaning
Telephone
Subscriptlons and journals
Licences and maintenance
Professional fees
Postage and stationery
Advertising and marketing
Sundries
Lease and hire of equipment
Lease of minibus
Motor expenses
Kitchen supplies
Books and classroom materials
Bad debts
Bank charges
Loan interest
Depreclation
556,864
2,698
53,573
10,814
10,661
17,826
8,023
79,915
22,265
18,514
4,143
19,017
20,561
9,391
8,532
3,011
2,693
2,534
9,422
2,658
38,917
11,060
469,652
7,507
47,223
7,875
13,277
13,783
8,872
86,302
17,155
30,582
3,939
12,256
19,749
9,339
9,089
11,928
347
3,289
12,894
3,733
36,094
13,842
14,612
906
15,495
16,269
1,808
16,080
17,377
948,357
886,009
Share of support costs (see note 7)
Share of Governance costs (see note 7)
363,595
41,509
312,457
34,318
1,353,461
1,232,784
Support Costs
Support
Costs
Governance
Costs
2024
2023 Basls of
(Restated) allocation
Salaries, wages and related 363,595
costs
Accounting and finance fees
29,309 392,904 337,175 Allocated on
Time
9,600 Governance
12,200
12,200
363,595
41,509 405,104 346,775
Accounting and finance fees include auditor's remuneration of £9,450 (2023: £9,(x)o)
inclusive of VAT.
21

The St Peter and St Paul School Trust
Notes formlng part of the flnanclal statements for the year ended 31 August 2024
(Contlnued)
CorporatSon tax
The charitable company is exempt from tax on Income and gains falling w7thTn sections
466 to 493 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable
Gains Act 1992 to the extent that these are applled to its charitable objects.
Staff costs
2024
2023
Analysis of staff costs:
Salaries
National insurance
Pension costs
744,071
60,823
144,874
634,568
55,366
116,893
949,768
806, 827
No directors, who are also the trustees, received any remuneration in the year. The
directors did not receive any reimbursement for expenses in the year. The charitable
company pays for indemnity insurance for the trustee5 as part of its overall insurance
cover. The annual premium is included In the commercial combined policy premium.
Key management personnel comprise of the senior management team. The total pay
and employee benefits for the senior management team were £330,860 (2023:
£283,903).
One employee's total emoluments exceeded £60,000 In the year to 31 August 2024,
(which fell within the earnings bracket £60,000
£70,000). No employees,
emolurnents exceeded E60,000 in the year to 31 August 2023.
There were no settlement agreements made during the year so no payments were
paid under these agreements during the year (2023: £nil}.
The average nurnber of employees:
2024
2023
Full
Time
Part
Time
Full
Time
Part
Tlme
Teachers
Other staff
10
13
10
15
15
15
12
The average number of employees as a full time
equivalent:
Z024
2023
Teachers
Other staff
11
22
20
22

The St Peter and St Paul School Trust
Notes formlng part of the financial ststements for the year ended 31 August 2024
(Contlnued)
10 Tangible assets
Freehold Temporary
land and
bulldlngs
buildings
Flxture5
and
equlpment
Computers
Total
Cost
At 1 September 2023
Additions
1,098,879
120,317
2,250
206,357
564
80,539 1,506,092
2,693
5,507
At 31 August 2024
1,098,879
122,567
206,921
83,232 1,511,599
Depreciation
At 1 September 2023
Provided for the year
96,255
8,071
188,823
4,716
71,749
4,590
356,827
17,377
At 31 August 2024
104,326
193,539
76,339
374,204
Net book value
At 31 August 2024
1,098,879
18,241
13,382
6,893 1,137,395
At 31 August 2023
1,098,879
24,062
17,534
8,790 1,149,265
11
Stocks
2024
2023
Good5 held for resale
25,217
26,236
12 Debtors
2024
2023
Trade debtors
Other debtors and prepayments
186,142
53,019
202,929
58,440
239,161
261,369
23

The St Peter and St Paul School Trust
Notes formfng part of the financial statements for the year ended 31 August 2024
(Contlnued)
13 Creditors: amounts falllng due wlthln one year
2024
2023
Bank loan and overdrafts (secured see note 15)
Trade creditor5
Other taxation and social security
Other creditors
Accruals
Deferred income - fees paid Tn advance
34,067
12,193
32,089
23,175
3,407
14,737
705,021
8,264
12,317
654,100
769,425
729,945
14 Credftors: amounts falling due after more than
one year:
2024
2023
Bank loan {secured - see note 15)
Deferred income - non-current
Other creditors
207,799
35,105
24,200
243,845
22,500
267,104
266,345
An analysis of maturity of debt is as foll0v￿.
Repayable in more than one year but not more
than two years:
Bank loan
Deferred income - non-current
Other creditors
34,067
23,404
3,500
32,089
4,250
Repayable between two and five years:
Bank loan
Deferred income - non-current
Other creditors
102,202
11,702
12,500
96,266
11,250
Repayable in more than five years:
Bank loan
Other creditors
71,529
8,200
115,490
7,000
267,104
266,345
24

The St Peter and St Paul School Trust
Notes forming part of the financial statements for the year ended 31 August 2024
(Continued)
15 Financial commltment5 and details of indebtedness
The variable rate mortgage loan is repayable over 25 years from October 2005 at 1.75%
over Lloyds Bank base rate. The fixed rate mortgage loan of £250,000 is repayable over
19 years at a fixed rate of 5.804%. The Bounce Back Loan of £50,000 is repayable over
10 years with no repayments in the first year at 2.5% interest which accrues from the
end of the first year.
The loan and the bank overdraft are secured on the assets of the Trust and in particular
on Brambling House.
Hire purchase contracts are secured on the assets to which they relate.
16
Deferred Income
2024
2023
Deferred income at 1 September 2023
Resources deferred during the year
Amounts reLeased from previous years
654,100
740,126
{654,100)
612,316
654,100
{612,316)
Deferred income at 31 August 2024
740,126
654,100
Disclosed as:
Creditors: amounts falling due within one year
Creditors: amounts falling due in more than one year
705,021
35,105
654,100
17
Operatlng lease commitments
At 31 August 2024 the Trust was committed to making the following payments under other
operating leases as follows:
2024
2023
Operating leases which expire:
Within 1 year
Within 2 to 5 years
10,268
10,528
18,014
10,926
20,796
28,940
25

The St Peter and St Paul School Trust
Notes formlng part of the financlal statements for the year ended 31 August 2024
(Continued)
18
Related party transactlons
During the year four trustees (2023: four trustees) had a total of four children (2023: five
children) attending the school. Their fees were charged on the same basis available to
any other children attending the school. The total fees charged to trustees were £42,128
(2023: £39,712). No bursaries were made available for children of trustees (2023: none).
The senior management team had a total of two children (2023: three children)
attending the school. The total fees charged to the senior management team were
£22,108 (2023: £32,217), of which £21,381 was for school fees (2023: £29,907) and £727
of other income {2023: £2,310). Discounts on school fees provided to the senior
management team during the year totalled £10,211 {2023: £15,230). These discounts are
in line with school policy.
During the year the school purchased services totalling £2,815 (2023: £384) from W G
Pollard Limited, a company of which Mr P Pollard is a director.
19
Penslon Obllgations
The pension charge in the flnancial statements for the year includes contributions
payable to Aviva of £123,258 (2023: £103,999}, in reLation to a defined contrTbution
pension scheme for teachers, of which 100% were employer contributions. At 31 August
2024, no balances were due to Aviva (2023: £nil).
In addition to the above, contribut7ons of £32,056 (2023: £26,410) were made to a
separate defined contribution scheme in relation to other staff, of which £21,616 (2023:
£12,894) were employer contributions. At 31 August 2024, £nil (2023: £nil) was accrued
in respect of contributions to this scheme.
20 Status
The charitable company is incorporated in England and Wales under the Companies Act
1985 as a private company limited by guarantee and not having a share capital. It Is
recorded in the Central Register of Charities as Number 516113. There is no overall
controlling party.
26