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LUCTON PIERREPONT SCHOOL EDUCATIOYAL TRUST
AN￿uAL REPORT LYD FINANCIAL STATEME.YTS
FOR THE YEAR ENDED 31 AUGUST 2022

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
LEGAL AND ADMINISTRATII'E 114FORI¥I.4TION
Tru%tee
P L¢l￿5
AKh
Thr RL3CtrtMI Prdx7hl¥" M J
(Appoinied ?9 NOTr¢yn)￿ 2D211
(AppoinTtd:Y 211?11
R J StrNersfidd
(Ap￿)1ntrd 29 20211
Hvjd Te4¢h¢r
Mt5 DJ Marte
All￿1￿¥
SI￿1￿
CDrnpa•v nurnbEr
A￿dIt
RKhard p￿ce knicesLiiniied
(j￿nd FI￿
Crawlty
RHIO IHT
Bx•kiV
LIo￿T￿LI W Pk
Ariel IIou¥e
118 C(wentyy Ro*J
Shel
B2h.lJ4ty
s￿kIlors
Hanison Clwk Rirt<¥bv>" ￿11(*71
Thotpe H￿se
) (Iro￿ SItE
Hereford
HR4 9AR

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
CONTENrs
SiatLXnCnl Lif tTh51LX￿ Wsibilibc5
Ind4xn&rtaLx4itofs rE
$￿tt￿EThI0f fi￿anCIal
9- 1
BAlaJKe $heei
Slatrynenl of ca¥b
Notes Iv thc

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
TRLISTEES REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YE4R EIN'DEJ) 3J.41,'GI..ST2022
The preseni the1rarn5￿i1 rew1 a￿1 fir&*Kial forthe yeartskts131 Augu￿2012.
Th¢ finRncial b¢cn wrForrd *"ith th¢ ￿11<1¢5 5¢t In TindwiJI stalcni¢nts
Trniply with ih¢ KTrKH)1 5lgiovernln￿&K.U[￿t]. t￿COmpanieS 2[￿ I￿1-ACCo￿￿tIng Jnd Rwrtiii¥ M. C-iaritl¢s." Stsi¢ii¥irtof
kecwnmendrd ProCtItt ¥ppli¢¥bl¢ io ptLydring theira¢¢owbts in wih the Fill¥ncial Rewtting Stallda￿ 4pplieable In
lh¢ LIK JIO R¢publK of Ir¢14Dd IFRS 1021-iefftoiir l Janwary ?0191.
Obj¢rtlb¢s*nd
Tv fvra<iiancernentibf LxluiatKbn irfchildwi ￿the L￿rt￿l el5¥TrI￿. >￿h wjwationto
i%e a moral b4$1$ 10411 wpilk
Ik-yond th¢ i1t.tr￿Itk￿nal dc-knXYniL swn¢ %WMwluualttiMwJr>. wpil$8￿C%plYt¢Q tlbikick)p in ￿ bwaiiL¥t
iJtional kiSL. PtLprin¥F thLYn lifi in an¥%LT-Lhan&FjnV In lo aLadL.JniLa[￿ co-iurriLular LXfLlIcn￿. thL
Il1fv1 s¢ningrs they tran>ltlM th￿th(￿mi
Ploy￿e ¥xcellentteachin¥7 th￿￿h tht recrnIttnenLa￿j rL*entian ofhiEh4p￿lrt￿C1L5511X￿n [￿actstiLy￿ at Thn￿r￿¥
Adopt ptunotc hi¥h pupil5.
Incul¥Jte J of imegraiKYn betr'e¢n loral and0￿¢￿5 ¥wdents.
Enknceihe nui￿ WOTrJSiLMJ to JKDiidc hujthj enteting the Sch￿)1 aithe agE4.i.
iii ¢h¢ 5taffand iupfth5e1f-inlpn)￿Mll by wwiding i1￿[ iraJninBand fvThthn¥e￿ern￿ cwrxs.
Iinwoie the facilities ￿ offet at Ihe5dKK.I.
• Introduc¢ ih¢ beii.flts0ft￿ io os an ?LwJieAr¢ a%w5￿ble. i￿1￿j•￿@()Ve￿s the UK￿.￿0 ii)iBhi
bEll￿r toaffiKd an lndcpcndc￿ SL4￿] cdiKalion.
Eiihcrthrtt(ly. otthiou8k ￿￿n￿l￿ mrknof5ts1t_ theschoolho1é5 ￿tt￿l￿[Sh￿>0fIl￿&S￿￿￿lH>n ofkni'cffling Bodi¢5 of I￿1cP¢￿J￿￿r
ch(ds IAtiBIS j. the It￿epe]￿t st1￿)1 {Lw￿L1 iJ5il. The In&r*nderd 5¢knls ￿s0¢￿tiOn￿lsAlThe Boarding S¢1￿￿[S Associati4
(BSAI. The IWendeM 81151rf AS￿1)11[￿115BA1aTr* thr￿18b the He8d ofthe Prep Sjiool. Indewiden¢ A%￿￿1)it0￿ of
Prtp st￿￿11APS). Ihus prWidinE I￿anY cPD(v[￿￿￿Il￿b lor SLaff_ Crf)Ilttiiiely. iTr*L- orwi8aliOn% pnskide
jinmense %lipw. fN)In ouid?nLY JTrd a ￿4￿11¢ raftOf8dl￿3￿d ￿&1￿￿11¢¢.
SIKce%s 1% rne￿red exieMala￿demic rwJliK placessecuttl 41wi%rrsi1ies*￿ othty hithyeducation irAiiutxM% alon£*ide
oiher Is% rneiric &%pe¢¢&. roNL¢ularly ￿￿1-beIN
Piihlic ￿'n￿lI1 1% achiev￿ ih¢Oli¥hihLPn)¥i%4￿ full a*J8rth ttbpuIMlsthhL'rnI* uAJbk' lil MiiL¥id Ihc ￿h1)l)I.
n¥51￿. pnlNiSiOn iit.thi sch(MTrl fLYIDt*l s¢knJ5aAIthtt *idtt wmnknil).prim&rilyathltv￿ IhrOu¥h
Thi ])iryxtsts vf thiiranny21 Tqxirt 315t Avy￿1 2071. tQOL'ihcr with thi fina￿1￿1 *atW[￿￿t4 fw
thL VL¥r. Trx'Ln prLwntLd with Cvwj ￿lih SORPIFRS 1021.
Piihlsc
IhL intslCLY rAid lu¥uidartCCi*ued by ￿.C￿llY CthnmtsSiOn *tiviliL¥ Iksiknl sknuk1 undLrtakL.
D￿¢ 10 tl)e P&SiJis of the heAdieacher. are un&ble itspros.mtan acbietremelts aod forthtvear. butthe aetilllies
ofthe 5¢hoolJre r¢ll¢ci¢il in the 11¢4iwjal ￿l￿w.
p*el

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
TRLISTEES REPORT (INCLUDING DIRECTORS, REPORT) {COF4TINUEDI
FOR THE YE4R EIN'DEJ) 3J.41,'GI..ST2022
rrYj¢w
The iinre5tllLYed funds ofthe School nega11￿ U45.538 12021." Negaliye Of£39:856}￿7Ih fund551anding ai Èl1.077 {20?1
ThL 4JC satisf￿ that tk-ydN]Dls' Lx7cvn￿ fimnrc lacilitKs a[KIllB￿￿￿llt wilh Alpth& schi￿¥.￿rL yufFKicnt
io mi.￿t th¢ wwkiry&*Pital rry¥irLmL¥S.
A¢seneswlKy
Tht rc5crvc%pDlicY i< t0S￿Sta1￿ Fund￿g￿Ncr￿￿fthtI hcbiand bank &bt t￿t￿￿1Th% attj%j(iÈ% of thccharily
jUrr1.￿
tht SEnior Nq?tb7¥Ctn¢nl ul'ih¢ sch￿. Risksa￿1￿￿lir￿￿ conbv15establish￿ thtuu&lLNJllhc y¢¥r.
Thc ttUSttts have a risk tnana¥7Ctncnt￿r.lltC￿y cornpri5￿-
an ann￿1 rev1¢￿ of the Iisk% ¢hechaiiN I￿Y lthr..
- Ihc cstab115bllicnt of5ysicm5 t￿￿C￿U[￿5 to r.iligate [h(￿J15k5 thntifird in thE Hnd
- Ilie iinplem¢nlalion of ￿tted￿r£S&S1￿*O IOJnininiis¢aiiy iihPAtt ort the should iltrjse risksm￿le￿2IISe.
The Scnior MAnaBdnent ¢￿U[C57h)i Ikthl ¢(llnpik5 wiih all tdevam le¥iskniKkn proeess Is al&) monilortd b> The ifttstees
through ierm y rewirt5 provided b)'rfk- Head T•￿-her4[￿ th¢ iliirsav. &swell ￿ throu￿ indis1du￿ Tru5wiaking reSp￿751b11ity for
ecnain key a￿s. Tnjsftt SU￿¢{M￿￿￿tt￿ &lsoctLWUtthat ihtattttsW]thinikir temil DlaIrtVd￿ fiLll¢tsmpliknee
The n105t sign.'fiwi risky Ident)fKd ￿35 folkiw
l. The onBOii¥ inlP2ir ofih¢gl£thl ¥tsndemi¢ IrLIth t￿￿#￿i￿￿#1 fM**iil tLYThts.
2 Fee affLYJihlity. p3niiuI)rlv forparenL* based¢n Ihe I￿[ 4*thrneniaTrJ.
3. The abiliT) ltsaltrnl't [￿p11￿ Ifdi'tl [<￿tIc[m)n￿ C1)DI￿ut ￿￿tin4M*
4 Lontilluimg fina￿￿11 pres$ute ￿1￿$¥￿11t￿ thrthgh cenirdl Kh)liCy 2]Ml kisstsf ¢knlthle rnte
Through MIr￿¥*the￿i pr￿¢￿se4 t￿#bIL5￿ and themtht TTUkn*tsare￿I*fI￿tthll m*jtrri%L4 idcrtlified
Plan5 for fulure period5
As Liiiliin Sh4D¥hui p￿￿￿￿1h[LL-fiUu￿ puwl ￿11 ty)2(LQl.TruSTLts iv SL.hwl.
pwywjin￿ri*Ll) link¥WlthCh1￿. 1> ￿￿17 a) ￿L￿￿Tatin
Ihr UK. AlphJ Sch(KTrlsLonnerliuTr Chi￿1 Hon¥ K￿E will aitTrkn briD¥ th1sebtsbli%hrd Joinl Venlur
PWJ¥¢t.
Alpha SclKN)slYorkinKp uith ha%rlh¢ plafr5 its plar<."
- Alpha h4vealtay L5$0k ofits inttsihE S¢h(K>l kn kECP iIopEn. Thi5 54thTr￿hU¥￿r{3Mmllt￿r￿r and bEliefto thE
Sch(￿.
- B) rc5ellin¥ LucfoD'5 C051 iWea￿ ll*utal w"&slage.a5 Thell ￿ the rcdu]thwofkniTrisltaliirnTrle5 (now b> thr CEnbal
y)rt ttliiil. sly ha%talrtad) &ert irt inipii)Ying athl &%.:ltyi￿g find￿111 S￿bIllrI.
- In order i(I L4von5 InmnK. It is neces￿10 oyrsid¢ramiilti-f¥oed arv(wh uti11st5 the ex1511ngas5ets and 5ttEng¢hs of
the school.
WiTh Lhesc In n)ind. Alplth'5 aiitts foTLLKMOrtart-.
l. To I￿￿re￿. pupil n￿li￿¢￿i itt CI&ss¢S'.
. To th¢ scliwls FFE (Full firy* F£¢ ewiji.4l¢mipe￿e￿149¢
3. To LIMPWk￿ boarding Mllni*rS. by a￿bI￿8 Iht*in IhTtt Jrarperiod
Trusiecb ahcad to lhcLWlrtg￿rLUerETrr. &'knL in S¢pianbu2V22_ e¥'ets£trort¥er links With C*irta. a%￿tIl as
gcJi¢LatJi)8 addjtioi￿l rc¥ttiucs tv %upwLI tht (IL￿ty ili tIK Alpha ktkn)lsk(￿n￿trt)l75 iii Lliina HLMig ￿￿￿￿¥ V¥il1 aiu)ts biiiie
grea1erb¢nef1￿ fr￿Th thi$ e%T?hlJ&hed Joint VentW¢WJWT.
p*e2

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
TRLISTEES REPORT (INCLUDING DIRECTORS, REPORT) {COF4TINUEDI
FOR THE YE4R EIN'DEJ) 3J.41,'GI..ST2022
Lucton Pierrepont Educational Trust LirNited i5 a conipny liinilalbY¥uatantet gove[[￿ Meniotandiim at￿.Irt]CIes of
As&ocia¢ion dated I l Jiily 1986. resised ?Ol3 NO5￿￿be1 I￿1. J¢ iqa resTrtsterec dwit). w'ith thecharity CornitlL&SitsJL
The in￿¢¢¢&whO are a150 thedly￿E(￿S f￿1￿¢pur￿or law. aThJ *thoThedthringthe)earaJwJ upto date of signathwe of
the f1113ncial slalernents wetE".
(A￿￿1￿1￿d 29 NDtreThbcr 20211
(AppyrtIL￿ 29 Nk)vuNnk.r2n211
A Khan
The Rei'ereTrl PreknddTS M J Kneen
R S Sherrey
R J Sianet4fKld
rjSF￿-11
M T FltyJbby¢T
A J Furniss
D J Marten
D Milc%
IApwin(ed W NoTrernbEr20211
IR¢%igTryJ )9 Ni)%'¢mlv 20*11
(Ke51¥￿j ?9 Nmrmb<f J)211
(Resig￿ )¥ NDIEmbet ?y*l I
IRC£1£￿￿ )9No%cmlx'T20?11
IR¥Slbwi Trl ￿211
lknigngJ?9 Nov¢mknJ)21)
P D Mi)Tri4
Dr A P*¥r6Qn
Thi aPPlTrllltmLDt ut"tF￿' tru￿l¢￿ i% bv ts iwrd iniX*vi blL*wJ ur
TrKJi)I pan iit.lhi AlphaWwi>li Gn)w. TnNLX num￿[5 vr￿ tLknxi kn riini tl% j. ￿1th Al(tha numin￿￿jGl￿ty[t
The Chairman oru no[ni￿ed swb5trtut¢ will ttustee5' ￿1th AGBIS. the A55WlHti￿QfGtS￿￿mIn￿7 B(Klie50f
Ind¢YTK*ni %hools. will be re¥wkiible f(y keepin¥ upw da* with pracuceaNI ca5radiTrdtt￿ k￿l￿ge{kn¥￿ io fell(￿ t
ThL I'￿11 ￿￿'Ll% lirrnly ihLicarLTrlhrcc sUlMuMnrnLIIL￿O￿C￿￿￿erin8 E￿￿dIlL￿.OllL Cowors Ilcll BLing& IIR Ihc ihird 14
ThL RL*buti&% CiimmillL.' wh￿h all fi￿￿cIal rn8iiL￿. 4)￿In( all￿die￿￿8nd Bur*ariO Ma￿￿e ihe day-Iii-daF
bv th¥ liifilTKfJtiibnal rnal'.if5 InclwiiTrLr hrrMnL*. TrU￿t￿￿' Lil thL
Jrl ¥liii DIrLcTL￿s uf thl w￿l￿1￿r¥ LirtitiL￿.
In accordJnc¢ ￿'1th rhe c(*npany'% art￿le￿ e rewliik)n rfft￿ng ihai Rithird PLi¢e Seryirt% Limiknl be rearwinted as fjuditorof
IhL ionynv will bc zt a flU￿Tal Mccling.
p*e3

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
TRLISTEES REPORT (INCLUDING DIRECTORS, REPORT) {COF4TINUEDI
FOR THE YE4R EIN'DEJ) 3J.41,'GI..ST2022
Di5rh)5wr¢ tfj ¥wditor
Each ofthe Itustees h&5 confittnec Ih&t thete 15 no iTrfottnalI￿0r￿thICh the) areawireiihich 15 re￿vant to theaudiL bul of which Ihe
iTor is urtaware. They ha¥.e furtherconfirme& that thev ha%e tAkeo appKyi&ie to ideA¢Ify' s￿h ￿le￿￿11 informaliohattd to
tJblish ihaiil* audiioi L￿a￿are L¥f such infomiarion.
Small LQThPani£S' EwTr4ylied ihr> th￿[to¢sReF￿L
ThL ￿l￿]rt W3¥ o[TrY￿L￿￿.
TTU.41¢
12July 2•24
e4

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
STATEMEP4T OF TRL'STEES RESPONSIBILITIES
FOR THE YE4R EIN'DEJ) 3J.41,'GI..ST2022
The who 3rtalso ihediyeciots oILllth(xbPILxwi&hool Educatio￿1 T￿￿tf¢rIheFWr[￿￿c0f£OnlwY law. ar¢rewrt4iblef
preparin< theTru%lees RvrtZt￿ rhe fi￿r.claI %laletthenlq in xcordJnCe￿ith arplirJNe iaw'aThJ UniTed KiTr¥<k)m Ac¢WUDting StaThdard$
{Llhiled Kihgthm (Jettetg.IlJ Alt￿￿ PtgiTiceJ
c.limwaTr￿ Law requireqtbetnLfittts topretkare tin￿￿11 %laIerneffttsf￿eaCkn fina￿131 gi¥￿ a trut and fail i'iew ot'ihe.4late Df
an3iJs oKthe %chooI 2nd ofik itKomiD¥ JewuJtts aT￿M11C￿l￿ ofttsOittt% irt1uth￿¥ ihe IJIC￿l￿O ewdiTure. ol"Ihe chJTii&blt
fiirihai )ear.
- 4LILX'T %uiEablL JrCuuntiM& wliiiL% ikin rlMK*È4L￿tty-
-vhsLT¥L the￿LIh￿s￿￿ CknIic5SORP".
- niak¢ judir¢m¢nts estiniJi¢¥lh4tar¢TwnJbk JrkJw¥knt.' ¥¥J
. piepAr¢ ¢h¢ financial ih¢gToing CQNiffll kni5 it is inwory1a*tyJ￿eSWne trAtthe wjll j
IpeTatM.
The ¢nts¢tts4re re>rhM>ible for k¢¢pin& iecN& tha¢ disclose￿Ith1￿￿￿)nab1e ￿(￿raCY a¢ anv ¢ime ¢he fiiwncial
pDsition ofthE sthool and enable thcrn loc￿Sure that the fI￿[￿JaI Stalen￿￿ts￿￿￿1}"￿1ih theCoTryMllit5 Ad_wi. Thryare a150
Ieswntible for saf¢guardiDB the JSSd>of i￿X￿1 and1￿￿¢ ￿kIng r¢axN¥JNe forthe rrn*nllon aTrJ d*e¢uon of fraud and

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
IIYDEPEIYDENT AUDITOR'S REPORT
TO THE TRUSTEES OF LIICTON PIERREPONT SCHOOL EDUCATIO.YAL TRIIST
Dlst1*lnbtr￿0pI￿lO
We w"ereeng&&7ed to audir the financiil ￿lIe[r.enL￿ of Luclon P￿t Tn)5t Iihe Ch￿1￿ble Cornpan)k ￿hiC]I coiiipri5etl
Lement of Ilnliicial4cliVities. the shee1th￿l the C3sh IlowslaTernents asat31 3rtd rtotes to fiA3ncial
aiemenis. IM¢ludin&Tr a51iTnn)an'ofsp4nifiuni ￿toU￿1]P.g ￿)ll(le&
Bz5iJ for Di￿1￿l￿er01OPJm
W¢ ￿'¢r¢ ￿ dppoin*J of¢heChdrithf¢Co'nTrJnJ wwl aft¢r 11 21)f. Th1￿ fdjl IQLi¢iher w*h th¢ de4th Trf th¢
hvddtndyter. LhJiiEe5 in peThL￿ne1 andthe tWU:lenEnt to'd d￿￿0￿￿tsi0[￿)1Et&l for filin¥y t[￿t we i￿n uiiabl¥.'LTr satiyfy
OW5el¥e¥ as ¢he eli￿¢t￿e 4ndIa￿all(￿l of kry b3lJnc¢5 *1 5t4trnients. As 4 ttwl¢of the rnatyet& we ￿tre
denKTrtsTnakin¥ up the 5LaIetnc￿I Df fiNnrial ac1ib.it1￿ and 5talcrnenl of ￿5h
M4tErial LIDEert¥iDty rdxlEd
W¢ aitention iv 1.2 inih¢ iinan¢bil i￿￿1￿￿￿E￿il 202? ts Chari¥bkC'o￿p?Tr￿ hJd
Iiabiliti¢b v.-"£334.4bl and tnwiea dEficrt fort￿ )YarllThffithd of £80S.08" A5 slat￿ in l. thc5tEvcnTs Drconditiuiik Indiculc tIMt
m￿lfied in resp￿1 of thi5 mallei
In audi¢ing ts finan¢iJl *a¢etneDik have￿￿￿thJ US¢oft￿ c￿Ce￿I￿lS0[ ￿￿ntIng in ilie p￿parali
ol'ihc financMI siatcmcnlg 15 aPFKDprialt.
Our eY¥luttlwn iil"IhL' dirL*IuT%' iiflhci*lyly'sJbilili'lOr(¥rfin*lo￿wM ihe ￿¥L￿)UnliNblrt[U￿￿Yj
Iifmingp that faiilitlLwfL'rnaiJKMi in lur al 1? Thjntkfwrn IhL Dr￿)￿nin￿l t￿ linAnLial ￿talLI)lL.1]t5 IfLiitrini
t4)nfirmdtl(Ins ttiim pHnythut Lxintinur Io ITrK' Lhmtsbl& CiimW> in DiYin&T all (Trf iL% tIK'y fall duL.
thir respoThsibilities a￿1 ihe responsitrAliiitsofihedireaorswjih res[￿ ￿wing¢•I￿¢rn3rt de>cribed In the rel¢%ai)i *ciions ol'iliis
report.
Other Inf￿r￿ati4
The oth¢r.'nfiYnia¢ioii CO￿prISeSthe AKI￿J¢Ll T¢PXt oth¢rtron out Awthtort
ther￿￿. Th¢tri￿Tte¥ are T¢5P)Dsible fvy the th¢rinfot[nJtsWCi￿LWffl¢d ￿rythIn rYFMNt. Our ￿inIon0￿ ihe fin4TKial 5Lii¢ni¢rts
rovrrtheoihrr information noi rxprr55 fo￿￿ ofasbUtaii¢e iIKrttsn Out ry5F￿51bilII* is lo Ihr
other inlormJtioii and Inik)iii&p yx ¢(¥bthriithe¢k¢i th¢oth¢r)nfffln*v)Tr i¥ m3wkilty Iwon5151¢Th ￿ltr. the fir.?nci31 01 our
kTrowlcd¥cobtaincd in Ihc EQut5eoft￿ auUiL or othctWJ5c to k n)ll1¢ri311) If id￿L]fy.5wh Thal¢￿￿11 Incoik5i5T¢nCIts
orappaieni Inil¢¢rial rnis5rJ¢etnents, are required tsid¢r¢[tnw￿ ￿k￿￿e[￿lS gii¢Y rik" ty a nwterHI mis5Ut¢r.Ent iii ¢h¢ finaNcial
*aienients I￿.￿Sel￿e5. It. iw5¢d ￿￿[1[ 14iYe ￿forn*¥￿ w¢ th•1 15 J I￿15St41¢￿entofIhlsother
infDnnation. weare iequitd to [t￿MI fxL
Wt ha¥e n￿bIrtE io te(x)n in This re8*
Wc hJvc i1￿h1￿8 rqxirt in TLWI ol-IhL following rn311e15 rel*iun towh￿ ￿ch￿till￿$￿A￿4)￿lTh(￿a￿ Rprt%l Rcpdaliilll% 21M
TLxiiiifL LS IOrLy)rt 10 you if. in 0￿￿0p1￿1￿￿'.
Ihe Inliymalion ¥iven Ln the 5thIen￿-.5 ￿ iDECllSi51cnt in anv ￿￿terIal reyct ￿1th IhE mislees repon". or
5uffir1eiiiar￿uNt1￿￿ rec•rth Iwi¢ kqA". or
Ihc financial 51aTriTLCllt5 arr nDI in 3¥rcctTrcnl wnh ihcatc(wmin¥ Or
'¢ huie r¢¢e15￿ dll th¢ ar•J ¢wlawtiC4Js w¢ req￿￿ for￿1￿￿111.
p*e

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
IIYDEPEIYDENT AUDITOR'S REPORT {COYTIYL'ED)
TO THE TRUSTEES OF LIICTON PIERR£PO￿"T SCHOOL EDUCATIO.YAL TRIIST
R¢Spo￿91b1liti¢s of trustr4XS
As eiplained liillv in the slate￿￿71t ofttustee5 respDnsibilitie5. are a150 thedireciot50fthe 5choDI forthe pU￿05E0r
Compa￿), knM'. are resptptlsible lor iheFrfeparatLOfL ofihe t1￿￿al staiements aijd foybeirtg satisfiedthatthey gil'e fair v1thv.
for 51Kli In¢¢rnal ¢M¢rol Jsthe irustrts de¢¢nKine Isne¢es5ar)'io enab".¢..￿ rxwgraTNM of-.inawial *atem¢nii Ihat are freefroin m3*nil
15slaleTritnl. whciherdue lo fraud ot ctroi. In prcpanNÉ Ihc finanrial 5ts1ctr￿IS. the t￿￿￿t¢S art resp￿SIbLe foi a55C551nk Il)c SCI￿] 5
kniliis, toioniirtiie as J ¥oing Lon￿eM disc1051nB. as applicablt. m2J=ersrek]ia io goiiiQ con¢em iisinp il* goingKDiiC¢rn bH5iS L¥r
iounting unless IhE truylee5 e11herjD￿mL to liquith the charitabk c(M]JpanyoTlocease 4)erali(￿0Th￿1r llDTtali51ic&hen￿l1I￿ [￿1
b) dostx
A￿dIt￿,% rupoI$l￿1I¢k￿ ftsr tlK' **dlt ￿1￿¢
W¢ ha￿e been arvointed as aLwJiiorunder ￿￿tIOn 144 ofihe Cthanties Aci wi l and in acco￿￿(¢￿1th The Aci ttki'ani
rryiilationstnade orhaYiDB elTei1lhereuthleT.
Our responsibility Oft￿(ban￿ble C¢wnrAnv's y4i¢merfs in with lfftyn*ioMI St?ndardson
AudiTin¥ aiid 10 isbue an audilW's rtp)n. Howtwtt. be¢auS¢OI'the i]WieI5des¢rii*d Jflihe El25iS fcrDiscl3imeT ofOpiJiiOii£e¢iiOn ofour
report. we not abl¢k)thtain suffirientapprwi*e 0￿411 prm'ide a b¥is fwJn a￿lt t1￿5¢ fiiiar&ial
£taieJnents. wt Jrt indctxtkkni ol'ihe c1￿￿[abl¢ Q'(HmPanJ lDa¢COrda￿¢W11h the ￿h￿al Ihaitsre rtle¥ani itrour di￿ri tsfihe
linancial 51DIMerJl5 Ill the Llni¢ed ha￿e fvlfflkd0urotherah￿al r¢5wnsibi111ie5in X-corda￿e witli ihese requiremenis.
Theexiemio wthich ar¢r•bleofdLwiing irfew￿ar11l¢* fra￿L ￿de￿lled ￿0w.
W¢ haNe rnad¢ ewuirie5 Ofmawgen￿i. Ol￿alT¥￿¢￿5. r¢gW￿1￿¥￿￿r￿￿ureS relalinB tv idvnofyiTrg- evIl￿￿ting0￿￿ Lwpl>ing ￿1th
l. laws ￿4￿latIonS ofamy in*ancesof Auk¢onwlianc<
I. ￿-t￿TIl￿g and rryhmmfing ￿ Ik- rith5orr￿Udanl wknhcrI￿. hai.ckJK)wknlgi ofany artual. %USWL*cdoTalliULyI Ird￿.
Tlie intemal estsbIish￿ tonuti8ateiisksrtlaTed to ftaud orrM)ts<tsnwl1￿tt Withlaws atsd rtglllaiN)ns",
Lilgau￿TI￿t andwkn. anvpilLnli
l. ￿L￿dcUftM. pl
Th¢ &udit L￿n ithtifiEd Ehvrisk of rnan4ietn¢TrtoIerTKkofwni￿I￿as thearea the fina￿￿17 stdtem¢nt> weT¢ Tnt
s￿￿'¢￿Ible ti. Inal¢riul nibstJi¢nknit th tv fr￿￿]. InrI￿￿blll W¢f¢ I￿.. liiniteJ tv It￿1n5* I114n￿l j<)urnal
ffltrie5 viheradju5tnwnts Jnd ¢YJluating theiw51t￿¥ rJLKde in rY13tw tfj4nysipnifrdni.UW5ual trdnwtion% al￿ tratWLii￿nS
t¥rtetEd into ￿t￿￿e0fthe non￿al LxMtr¥e oli￿ine
2. Reven￿ r￿n11￿)ry
dit ptocedures planned I￿lUded. bj*￿￿re not li￿lled to thtDughtestS to ideTrlif)' the contrd Pr£￿ed￿J¢S in placeand
IlL¥￿1 UithiJidiLdir￿P ul'ilie pupil liJL￿tI￿ Kyl￿111L￿xi Utrfdil￿. Pyuidutes LXtliYJuul.
e7

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
IIYDEPEIYDENT AUDITOR'S REPORT {COYTIYL'ED)
TO THE TRUSTEES OF LIICTON PIERR£PO￿"T SCHOOL EDUCATIO.YAL TRIIST
3. Goiil¥ tortceTh)
Iher fiQartl ￿￿t]1-￿￿ bi. a￿1[ ertpge*itttt teath as g te#￿It of fkllirtyp￿l artd nSIrtBtogt&.
Ir. order io the atto￿lsbe￿S weFoyed OA Ihe goirtg b&£i4 ￿*$¢{*T￿tIl￿.e fdl(WiThgte%ling ￿E*r[anned. Obtain 2nd
review fnreca8ts 3nd hidgeL% tOraper1￿ ihroll8h toJul!':IlJ.. (knin and revjew aL￿}unt￿ fortuture perikid* uptL)
Ihethie ol'tsigning oKihe&LXuunl% lu bll￿eL* i&nlil! *)y fllrther i*yks.' rt&iew ¢UtttswndeTKe ivith ihebank
rLyardJll¥ willin4nL￿%tQ c(￿1￿￿￿. w¥idingknkin¥ facil1i￿ (*Aainin¥P a Idiu ui to fftanagCn￿￿l QLTollnl% and
yLafcnd ￿Li￿nI} Altth stk￿14 ii)i4)nrirmtl￿.irVllli￿9L￿thd abiliiylo COrtiinllL kni IhL' Sckn.
4. L￿W¥And rLSW]atk)L%
A rewiEW LTrl"hlllY t¥i¥nt r￿ul1) bv ISI SCI￿)15 Inst￿1￿r4(￿L w%iehw fTvrn leglll ILS looA( Fur
id¢nl¢(>fbrW￿TrK5"'. r￿l¢v& miTrwws tsi iJenlifv anj breachts r¢wlatiQllb.
S. Valu*iM of prweTry
The &udil engaÈernent le￿1 Jlso i￿)￿ri￿￿e vaILWi￿) of a5 a sunificant risk. lii 0thiottstthatthtTral￿tKThn rfproperty WT
Ih¢4ccounts Is Valu￿ le￿0T￿bly. l￿fOll￿Tri￿. ￿￿edur¢S were planned: a￿ls11th thE pygriiseb 104N41v5e Indica¢icfisof
initminnenl." docufftentation toanv JKDfe550nal waluatiDn an31>￿t Tnatkct to Mkntify" an> FNitenli&l Indic3tioTrs
of iMp?in￿liof the schc4)I r(oM.v.
A furt￿-rdcgL￿￿liQn 0[th￿r￿￿￿*1IXlitMs Isa￿¥11￿1)it DTr R(pNtM¥ Cou￿11'S I￿.d￿￿ ￿..
hitrts.'fIww￿.rr¢.vr&ukn￿l4lJlur*rC$rN)m*ibilillL* foml%wofouf8￿1iW5￿￿￿.
U%t report
This rerx)rt is In￿ sokls to thtchaiiiy's irusiees. Lqa tdv. fft aCco￿tt￿lth 4 oftl*Ch3r iiL%IAc¢011Dl< and Rewrtsl
Regulaiions'&lKJ8. OUr￿￿lI￿.0rk W, trtgn iiiideryaken 50 ih*we mi4hiswe iothe ¢harit)'5 I￿￿ee$thoSe Iiiarterq we are r.qiiired ioswe
to iheni in anauditods report3nd for t4herpurr￿￿. Tothe liillest eAleJ* peTmitted by la￿. dDnot Jcceptor3S5Dme re5wnsibility
aj))0￿ ￿heI￿lan lhech￿lfy and ¢l￿-harity's trnsiees As a W).. forour •Jdii fwthis re[th.￿for the LWiniOnS w¢ hai'e fornied.
DarrtTh HirdlnB{seTrl￿r Stituknr¥.4•dittsr)
rthr *nd bèhalf thf Rithard Platt Ser¥itts I.1￿1￿
Chuncrcd A¢Ywnthnt5
StrAtut•rn" Auditor
l? Jllly IU14
Gr￿Dd
1- 7 StaiitHb Road
C￿￿leY
RHIO IHT
Rithard Place Dob50n S¢Th'ices Limiied i& eligibl¢ a￿lI10r&f bv virtue of its eligibility a4
itor ol.ll conipany undersection l?12 of Ihe L0Th￿nIC5 ?IAkn_

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
STATEMENT OF FINANCIAL ACtITr'lTIES
ITr4CLLD￿G INCO.%IE AND EXPEYDITI'RE ACCOUNT
FOR THE ?E4R ENDED 31 ALIGIIST2022
T(*fil
fuods
f*ttd$
2022
2•ZI
ID21
Nrrt¢s
1TrrTrrn¢frO￿-
.974
54.974
131..325
31*5.¥97
3O7.4¥5
3.IM5.¥Y7
307.4¥5
! RD¥.333
333,9)1
5.949
Investments
Totsi iTheDilbt
3.157.U76
3.417.070
3.N5¥.974
ExPendItu￿on=
RdiSillb fuTKL%
Charithbie aci1vil￿s
Takeover rel&l¢deXr￿
4.V55.6Y6
!.Y95.78V
Totsl eApelldltu
4.26:.7$8
ei tAwwJilvre
IiN)5.6X!
I%V5.0¥2)
ID
181)5.rf21
IWS.6821
Rethnclll81knTr l¥Trds:
fund balJrK¥7 * I Septe￿ber 20?1
11.077
1?8.779)
ai 31 2021
{29.1791
ThL *lalcTlliitt Offina￿lai aclivilics a]1 gal￿ and kn r£a)gn￿ All and cxpcndilllrc dcriNL from
p*e9

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
STATEMENT OF FINANCIAL ACtITr'lTIES ICOYTINUED)
ITr4CLLD￿G INCO.%IE AND EXPEYDITI'RE ACCOLINT
FOR THE ?E4R ENDED 31 ALIGIIST2022
prttyr fiDawd*l >fAr
LIAr￿¢r￿ed
f*ttd$
Rt5trfucd
fllmds
T(*fil
2•ZI
1021
Nfyits
1TrrTrrn¢frO￿-
131..325
3.308.333
33iJ)I
! RD¥.333
333,9)1
5.949
5.949
Investments
Totsi iTheDilbt
3.¥5S.974
3.N5¥.974
ExPendItu￿on=
RdiSillb fuTKL%
Charitable aCtiVit￿S
!.Y95.78V
Totsl CAPElldltu
Transf¢n% brtlie¢n lunds
27.1)fy
.Yei ltt fllDds
(27.126)
FllTrd balances at I seWe￿be[ 2V?
241J.559
ba1￿Ke5 #ijl AUEUM 21121
{2S.179)
p¥e 111

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
BALAIYCE SHEET
ASA T.11 AIIGI(ST2022
2•L•
2021
F5xtd
TaTrgiblc ￿Sets
IA%estment4
14
3J17.970
I(￿.743
3.475_IW6
16fi,743
3.484.69J
3.-792.739
CurreDt
16
39.730
Debiiirs
17
072267
and in
724
h12J91
CrLMlitorS: anitmiijts f*lli*g due witbiA o*e >tar
19
351179741
Nel curr¢Thtr liabiliil
13.W4.f491
Tot•1 a55ets le55 ¢urY¢oi IlabilhiES
J49.01
49%.(
CTedlton= fMlll•% due ilterTh•rE 11
(526.è691
.YeiiIxb￿J￿eS
The Cundi tjf the%hMI
Unri5tri¢tcJJ tunils
5181
139.F56)
Thi L'lllllPJII) L¥L￿tItk.d t) i￿. aLwJiT wilifLTh￿E in 477 Act lurt￿.
31 Augus120•2. dlthiiu&ph an a￿lIt h2¥ catriLMI 144 ot Arl 2011_
Ihi diythi0r%8ckMwled¥￿ lknrycs￿L￿bil1LIth Ihe rtWilLYIl￿ls uflhccon4wnl¥￿ 2￿6 w1lh i
XCOunllrtgY¢cords I￿. ol-fiKaneial%wLTh￿L%
The hav¢ rno¢ required theo)wy of its finwrial str*meffjs wththe requIren￿￿50ftheLON1p￿￿Ies A
iNJ6. foy theytur irt Que￿7￿ atiOrd&rt¢et¥iih srtiM)Tr476_
These financlll sl3tements IkgN'ebeenwepared Trith the w￿lSianS a￿liC￿le ￿ cO￿anIes5￿bF￿E tothe ￿nall Luxnp3nie
c fin￿￿[&1*1￿¢￿C￿* app￿￿edby Tk. 12 July 24124
Trn%tte
ilmpany r¢8i%lrn1ioD D?U59&y){EMgla￿ Wab.)
p¥ell

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
STATEMEP4T OF CASH FLOWS
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
2•L•
2021
C￿b from oPerat￿g acllTrilK
Cash geAer3ia Irr)￿1)b&￿tra b).) operati(Jtt%
155515
1110.CW5)
Puri11￿)¢Ol.1 Jilb Iblt
TrnKteds froin diswsal oi tati¥ible fixed assets
In¥'esimem ill¢orne
5.374
.YL.1¢￿ L￿r#I¢d frorn Iov¢4iD¥ I¢￿vIll¢s
FlnaDdoga¢tSvltles
Repayment bank k)Jn5
Pajment of fmance le2ses d)liEations
1214.004)
136J301
.Yei¢asb USEd In a¢Ifv￿e3
54.W7
(374.Y4
La%h LNtuwdlLml% ai ofyur
{37_3.0991
Casb ALeDd ofTrtAr
1373.6WI
RÈl*titsg tro=
Caih ai bAnkAnd In hand
Bdnkoverdr4ft¥ in ￿Ya￿le
I￿. )LW
724
1374.4231
p¥e 12

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
LuciLin Pierr¢EMJllt&.hool Edwiynal Truy isa li￿1￿1 by gurJm¢¢ irKotpM¢xl and W81*. Th¢
regist¢Yed vt7￿¢ is LUCIL￿ Schxbl. Lthjmiiisier. H¢rtr￿15hl￿. HR6 gPN.
AcroNnilrJ£ ronveNt
The JLrt&neL&J %l&loMLts1￿ ￿]1￿ I￿￿Ch￿l% ￿L￿OrandU￿ThQ￿dArti￿lt￿ f>rAsS5￿.]￿lIth. thc
Ci)mrK)nii4 Aci 2￿. FRS lQ2'Thi Finattial Reryjning JrWirabl¢ ID ￿ LK and RLTruhlic nlln'l8nd"'{"FRS In2'"1 and
Ihc charillL￿ 8oRP._4i￿m￿lin£ 3tkl R￿￿7￿s￿by Ch7￿lIk￿". $￿iC￿nI Prdctmx a￿lE￿￿k ioEharilits prLpannL
Iheifacth)Iihl% In a¢LYffiIa￿￿ ￿..1h ihL' Fin3ML)Al SUNlartlaypl￿3blc In Ihc IJK and R£WbI￿0I IrL'lartd IPRS IQ21"
ILftiLli¥i l Janw
!0191. T￿. PthIIL IkTr*it Entty FRS 102.
Th¥ fina￿1￿7 ¥iatwKni¥ arc in ¥ty11r￿ whIthisd￿. furK*Ki￿ arn(Nwts in th¢s¢
ThL' IirtAnci1i l under Ihi hiskwal C￿ llm*JifK￿j ts) ￿lUde 1h¢rL'wal￿1N)r of rrtY'hiild
operlI¥￿al lair ¥iluC. T￿. PrTh1￿) ¥c ￿k1￿.
Thtr¢hiCounl." for LLL*Ortfvewni E￿￿'l￿)nal T[￿landth fu)l irttl¥& the rtwlL4vl-il% Sllb¥idk8rits Ihe b&414
Ih21 i￿. ￿￿Id￿rIL￿h31l irJ&d durin%ihe ¥wand are1￿E ￿aTL￿al io
1.2 C￿ncern
Th￿ financi31 UaTcrncTrlSart P￿￿red￿th¢EvIll¥C*ACern ￿51$_The ttu5tttshai.ea rEl*￿b]eeXSrtctaI]On Ihai theseliool will
coniinue In (ver31￿TraI ¢x15M-¢ forihe foweable fv¢ur¢. h(m.e￿￿. Ihe tystttsJre a￿3(£ Dfcertain m4*nal uncem￿nIJe5 whith
CaiLsr doubi (rf) thcchariL?'5abilil)' toront1￿uc￿ a 8￿￿8 concctn.
'ith fvrKiing reqwrements leTr¢lstreyond th*whi¢h th¢bank￿0￿]d$llFV)ft. wo¥tiv¢1￿ to >afeBiwrd IL
l(Jn¥-Ictm fuluir 01-thc newi&li(ML% wilh alietDMiit tundcTS. B2nk SUpTx￿ wi*cn exienda loalloh dLe
k¥W¢S5.all approxh re￿ardedbY 1r.ieTreni￿n oi AiPiV Si-lwls. a ¢thL-aiH)n group. m)i'idJng gNi¢r iyf13iiirv forihe
School 3nd ITS lenthrs. Alpha &hoDlsh7i¢b8tttd iOcmlthu¢sU￿]￿8 ￿￿$¢￿] fotthc 1ortbrtablc lulurt.
The ha￿er¢I￿￿ed ryerored by haTrtrr b¢¢n.w%iii%d io rellvYP05sible th'nside
s¢en2ri05 a* a re￿1 ofrtthittd pupjl at￿l itiC4Mnt thlili(Ms&1 inJect)unS jfcreq￿ire$l bv
Alp￿) khrn11s￿l[￿lth 4¢WI 14 3bk me• it% r&lIg3t￿r%#$ they fall d¥¢ fff a ofat le)qt 12 rhe
dJie uf4ignin¥ihtr& I￿antial ￿L*lenThL￿. 5alisfiedth*i ikSL.knol ha% ei)nlinue
rai= lor¢￿. r￿lf¢. F(Jr thi% rcaw Ih¢v ¢4)fTIDu¢ ￿ ￿[A i￿. fwi￿. rffcpgrniiiin tsfihc*
rinanciol ￿talL￿nL￿l%.
1.3 ChAritsW¢fuv15
Unre￿riCted full4tsa￿ awBi13bl= for￿¢* thedisctetion of d*inJstces th furtl*n￿￿Ort￿cb)rJthb1t objectii'es.
Resttiii¢d subj￿1 by thxN>Tb' (Ygranwts dsto they InaV￿ used. 411d Of the
rexrici¢d fyI￿> are in thp nvte5 W thp IinJnrial stat￿ne￿￿.
lThcorne
dLfiYred uD¢II ihL' iemi li) li Telaits. Ibe￿ ￿¢f¢r￿ any￿￿1%4ft Ibc Batsnce wiihin cth111<M%.
p¥e 13

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
AccountiDg PDIicK
(Conti￿llEd>
Cash donu11()￿ 4r¢ r¢Co¥￿is¢￿0n rrL¢iPL ￿h¢rdOn&￿Ths a￿￿￿15¢donc¢ thc¥cTrwl h¥5 iK¢n nL*1f￿d of thc unl
EYrf0r.naiic¢c￿*ilI7onS rwuir¢ &f¢rTrl ofihe arnount. [LxQI"¢Tdb￿ in uThl¢T Gifi Aid or
deedyVfeLT%kn￿miS (¢thJ¥ni5ed at I￿lin￿or1h¢
GranL%. inL.luJin&wb¥LrnnKtit ariljtfs. dte in Qt finafKlal wCti%Ll1¢￿￿￿I I fLXYi¥ablL ￿￿15. ThL
inLurne is advdI￿e DI￿￿7t1￿m￿l ofrerew. it5fEL4)Enrtil￿ lsdvfet￿i￿Trl inrlthl L￿￿1t￿￿J iief¥Tr
inLom=. Where en1i¢l¢tYwt W¢UT5￿f0Te ryom¢ is reviY<Q ihe In￿￿1n¢ Ib
ETpt*dlthrE
IxpLTMlilurL tilOlTniwIuncL isa IL'¥4 1 ￿￿￿￿51[licIitrL clTrliYic￿ tu Ix'TKfiI loa third Pdlly. il is prub&b￿-
Ihdt ￿111 ￿-r￿mU1rLIJ mSLiiIL 3￿j ofihi d>liEatIL￿C4n￿L. [nLd5UtLyl￿1Idb1Y.
F.xpeThliture c1￿7r￿￿bY drliyity. The cos15 of¥th upof tht tolal ofdirect CDsts SI￿red Cl￿￿, includi￿&
sulv￿ COsL¥ utK¢rtskinbP ￿h￿l￿1t}.. DIiKi¢o)tsaMriiwthl¢ s1Tr1
-k acti%iry are all(K41ed direiilyio ¢hat
attii'ity. Shared C(￿t5 whiih contribuLeto l￿￿￿￿151tva￿￿ suppxtCL￿lS Mthichare not attriixtrdble to a 5in..Iv artivity3t¥
apputtsMed thus¢￿¢1￿"11￿sQn a iusis coThsi4ent ￿lih thevs¢of rest￿ri￿￿ Centtal sTaifcosts are 411ocatcd thr of
I1￿ 5pent.and depDxiationaJv.ys4r¢￿k￿￿J0Th ofdK&5el's￿.
1.6 TAll¥lble fixed A5sLh15
Tangible fL4ed assets a]Y imiti&ly r(￿Ur￿ at C05taN15ubseq*enifv iwsurtd #Cost or tr71AioN net ofdepreciaftort and any
I￿￿1[￿ent losses
t>w￿l￿tiOn sv wrrty off the (￿Jt ￿Tr￿lU￿10Th Of￿ k55 Ih¢ir retsId￿ value5 th￿r useful Ii%'es on IhE
fv110￿,7llX b￿5..
FrLLhuld land dr.JlJuildin
Plant ￿￿1 e4uipThent
fir.ings
Mowrvehie]tk
- 5•£ line (m c05t
onc￿1 redi￿1￿8 bYla￿t
?5%
FrLx*yld la]Kl )5
The Or Io** ThtdiyNJsal Qt[aMin￿Ia%thtdIftCftx*CI￿tr*Cn Ik %2le wo¢etht%atKI 1heta￿1ng value
Flxtd asx*i lttieikne#ts
In￿￿1 iicn15 in yJtsidiarie5 atrall heldal kss w￿Pa￿TriCt1L
as 10 ￿￿1￿1￿ tr(Kn i15
AifJth repyMn¥end dat£ t￿$¢￿ [¢5M￿the iJfryiO8 Mn8ibl¢ assets io &t¢Tmine ￿he[herlher¢ is ony
estinwa itt orderiodetem)ine Iheextrniof￿* imrAiymeJlt k>s4 Iifaoyl.
If the rtcov¢yable &%*ei i%estNnaTed io ￿le￿$tha￿ ￿￿tat￿1ng>￿￿M.1he ctsniing an￿1 ot.the &%4LX i* ttdiicedto
It% recn%erahle aThiunl. An Lmpl￿¢￿t ioss ￿ reC08Tr￿a irnrnediaiely in The Ln¢(M￿eX￿￿Iwre forTheyear. yDl¢$%ih¢ relrvani
p4e 14

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
AccountiDg PDIicK
(Conti￿llEd>
atL sfJtid * thL' knwLTuf L4A5t and 5cl11￿• wirc to LDnJpIL*L-arHI ￿11. cl￿ dirtL* rnatenals
r¥J. t4hLYi. a￿11￿￿¢. JiN'L* hd%L kn'il iwurr¢xI ifft brinwn4P Ihiifpiibini
I￿at1￿M aTh]cLwNlit￿￿. Itettb al nDorwrninal ￿￿￿idelIt￿n the l(Nei0frepLyLYTh￿tclTrXt
(￿￿L
Nil ruliubll bJluL JS t￿- ts*rnatLuI Sclling pri¢L- all i￿1￿3llYJ Cvsts of riKnpI¢tj￿ll C4pStS bL- inLllrrtd in matkLtIi
4¥lliThr anJ JLb¢nbw¢M)n.
I.ID Ca5b caJb EqulvilEllts
I ARh ind eAth eqiikilenlq 1￿clIM1e￿qh ￿ll$ held At call with EhM4erm IiqiJMI Thngin.
maTUrnie%ofthreetnonih$oT k&%. andfvnk o%.¢rtraf￿ Bank ovffdrAtTrs ar￿ ￿lthill boTTowiTrgq- incytT¢ni liabiliti
1.11 Fln*otlal
The ￿houl h35el￿ted 10 3pply the proTrision5 olsett￿n I l -Ba51c InSt[wn￿￿' and SerDon I?.0th￿ Firmntial
InstrumEnts 155ueb of FR5 Lo all of 115 fi￿￿(￿71
Financi31 inslruiTLents are recogn15cd ID tI)E5c1M￿l.5 [￿]]￿E shed Mhen thesdKx>l Lrcomesparn> io the Eonlraclual pro￿1￿10n5 of
Ihe in%iwnJetii.
Fi￿￿(1￿1 agsds atMI li&bililic5 itrotYsth_Thiih thcnd P]ttThtcd ihc fi￿ancial 51Jlcmcn& whcn thcrc is4 l.-gally
enfLY(e1ble Tighi io sei OtTiherecign￿3bTrjwts3ndlh¢Ic iiteNtithi to wd¢on a neib%isor io tealise the a￿1 and settle
Ihc liabiliiy.simu113nCOU51).
BAwfri141nri41R¥*ets
8&4iL finLlntL&I whith InLlu￿￿b1V￿ #TKl£*thJndbknk InLlially Ira￿￿￿110￿￿￿et inLludin
wbwllL*ily u%iM¥II*Lif¢ciit thier(￿ rne￿NI Ihe 8rrart¥Lmeni
ri)n￿tiL￿1￿& a finJtKJnii IJajL￿bo￿. wk-rcthc1ra￿cll￿ 1% at t￿ wcnl ialL￿. oftho future at
mtsrkei TalL ol"irtterLSI FinaNLnil ai4L%%ikns%ilicdas tLYL*i.thli yi*ratL
IinanCI',Il 1iajil1111￿. Incl￿￿1￿¥ Crcdii￿$ arHI tonk arc inilially Jw%￿1￿1 Pri£C inlts% IhL' amin¥cmtni
slilulith a linJtKIn￿ Wk-rctkdc￿ itisitwTrcni is mc45urcd * ihcprcstnl saltsc ofihc r￿tsrL' pawmcnLi di4cLwnlcd
mJrKil ftsiL DriniLyi￿. FI￿￿1 l1aknlilitsilatyifi￿ as ￿Vabl¢ ￿lIhi￿ rt018nK)A1￿￿I.
Trath¢Tditry¥ Jri pay fiwg7wL%vr￿iLXs in thi wjinxt) (bf (wiTdtiUns
pyIiLryS. Art￿￿￿[￿ payablL ar¢ il&¥sifiLuI LUnLTht liJbil1lK￿ ifwyrnLWt ￿1th1￿ ￿ar4)r It"noK. IhL> pfL%L'nlLJ&s
nyn-¢urr¢nl liabilit￿$ TrJ¢ ￿￿tI)r¥￿Te rwiwjinitulty dt IrJiwtll(￿ PriiyJThJ T]￿￿.￿¢￿￿1 dnii)rt15¢U Lx)st
l)erecugJrrlMm
Pl￿￿(1d1 li8bilifies art derttogni*d Iwlertthes¢knl aredI5cha￿d Ortancelled.
1.12 TaARthn
ThL brhwl 1$ ￿￿￿mpl trom

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
AccountiDg PDIicK
(Conti￿llEd>
l.lj Lfflpl•yee benell
ThL ot.any h￿l￿a).L￿7Itk.m￿￿t7￿￿YLl¥cd l￿- F43i(Mi in ￿h1ththc rtnploya's SLT¥l￿￿j￿
Tetmiiytiw hVnefit5zrerwUgn￿ ￿ffitn thesrhuol c0tnmltt￿ t(stermiMleth¢
emplo>Noiiofdn ymplvJtYO710 ￿ld¢ *rniination benefi
1.14 R¢trire]nent bvneffit5
TL'a¢blDx
The School connil￿te5 10 theTurheri' PeTr5i￿ khettEat the rdtes mukEscontriLN]tions to d'n￿neY pU[cl￿se,
bch¢xr*.-orbuppoYf bt3ff. As li rthsièle ro sewa*l) iLkniify..heJsbdS aNI lièbiliiiesof the Teach￿￿. Pensioii A%¢M.'
ScheThe. It isaccounted If it ￿ere J defined cOntnbit￿￿ s￿￿￿ne U[￿er FRS Ib? 5cknls' roNribDtiOn5t0t￿ schernes
are charged in he Iinancial sMen￿￿tsa5 troT￿rther I￿ti￿li13t]On Set note XXX.
upport stair
The 5¢h(Nil upÈrdl&¥a stheme for.ts sUPPMt Contri￿ti(￿S<kn￿. ￿?y#b￿ ioihe Sihool's
detined schtrne2re thr¥td Lithe s￿ten￿￿t of Fir1￿￿L11 Acti%7t￿￿.
1.15 Le*%es
L¢abesar¢ ¢knified ￿ r)nJrKe le45¢5 W￿￿￿'¢r the ierm5 Qf the k35etr4Tr5fer5ub5tsniiail}'￿l the risks m%wdSofowMe￿hiP
tot￿ lesstts. All rtknleastsayteiassified kases.
Asgeis htld urtderfinarttt lea￿ arè retogrtised rhe Ihe 3ÈÈtYs fairtralueAI dale tstihttptioh 2hd Ihe
V31ue of the niiniiful￿ leastpa¥Mkxits. Trrela￿d liabilfft is I[￿h1￿c￿ irtihe balan£¢Sh￿ &% ) fitsth￿¢ las¢ obligatkln. LeAge
payrnentsate trealed 3S COllSiSting Dfcapilal Jnd In(er￿_[elerTre￿tS. Tr.e )nler￿1 ￿Ch￿Iged IDneT incomelexpenditurel forthe year
so a% io priJduc¢aconstatsi r¢¥1￿11£ o(irtKrt￿ On tenuinThsbalancetsf Ik li3biliT).
%%eis ubiairted hirt purtha¥t i(pbif&Ls1)r art¢&piVdlIL￿ in Tht Shttt. Th￿1)eld hitt Wtch*se
c0ntYacts￿e deFrtCiJted o%er Ihthr e4-.lmatrd￿efll1 lJ%eÉ. TW held umdL¥ finaniel￿8 are derffe¢i8t<d o%trtkirestimaied
%elul live% orthele&￿ter1n. whKhever isshotter_
T￿. Ii*Lrfrd elcnwnl lif IknL￿. ￿11#all0￿ ISL￿[8￿ lo thc ofFin*￿i4 AcIitrit￿￿o1.erlhC relc*anl Thc ￿p1￿1
LILXIK1)11)l-Ihe lulurk ￿yml￿l￿ IS litticd asa Iiaknljly.
In Iheapplieail￿ oftht st￿¥￿1"S r4>li¢*S. tht NTrmakt jlldgthients, esiimaies 3rtd 2ssUm￿l0n%
aknuithecarr¥'in¥ainouniof l￿bIllI￿* th313re Th)¢ read>￿ wr¢m froin ￿h¢r %wr¢eo Ihe*tiNiaiL￿ 8nda%%oiiated
a%surtiP(iun% ar¥ ext￿1￿￿ Jnd COll5j￿ Jobt AtiL*I rE￿IL$MaY Oitytt fro
Ihese estim)ie%.
lh¢ pLriiJd in whi¥* lh¥ LWLrna* is r¢ii*<d T￿. ￿V￿￿J.￿l in the ofithc TevjSjon and r￿ur¢
p¥e 16

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
Crilicaj
(Conti￿llEd>
Crilic4J
ijseful ¢¢owomlc bN'e5of t4nglbk •9gd5
Thi Innual dLTrr'.XiaTiiM ihaY>'% Ivi Ihi ￿￿•b￿&%(**3￿'$LY￿￿ll11tl￿c￿aTh￿￿ L*¢ful eeonornK livts artd re%idual
Thc uscflllLYQtM)mii liv￿ Jtml r￿1￿1 arc annually. jrcamthd￿ whcn
ImpATheThtof dtbtor5
The )￿k¢S1￿ es11n￿ltof reto*dabltv&lue offtt&btth> trgdeathlixbef ddxots. M'hen tsssessing the irnwm*nt of
deht4ITr n7*er￿n1t￿r￿M1er￿faCt￿r$ incl]din¥thecwreDicrerfil n1lry8￿fthedthnr. theyng Trmf1lenfthe￿hiTrY￿Allrt
h1¥or￿al ¢xperiewK.
ofa51M5 and IhÈ OtptOPErty v*lll*tltrAI
The 5<hLxII has ajnarka 131ua1il￿ then, Thtte ye3r4￿MIe￿i[ts thattherdrryingi•lueoftheirassets renwns low
Ihan the fairyalueof Ihe assets(￿ the 0￿￿ rnarkeL lkner(￿e (Izt t￿r is nc impa1Th￿Tht. Eletw'een theTraluattDll5. fftanak7ernenl
tryuircd io rcY'.o4 the a55Ct5 for ijnpaltu￿￿1. tlusrL7[￿I￿s atla Ofjudw￿nt.
Th¥ srhwl l* p￿￿ided ￿lE￿ a Wility by ihv 7 years. Th¥ Jttwnt 1% t￿re￿al
th¢r¢f•￿T￿￿¥t FKfXThtvalu¢ ￿1n..￿n appTYMiit¢ dis(ouni ￿￿r. M411dg<m¢irt d¢Lided thui lh¢ lI￿t
appropridte d15thxmt rdte is 2.1.￿ the same r&ie&S th¢ircun*ni
IncoThe from iegaci
UDresirfcitd
f*thds
2•22
2021
10.989
43.985
i4.974
¢vranis r¢¢th*tbl¢ forcor¢
Niirsery Eatly Ye￿5 Fundin
105.767
13.35%
KiLk*tstT &.hrtnL
4i.985
43.985
p4e 17

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
I￿￿￿¢fr[b￿ rh*rit*lJlL' *rtitrili¢5
UDreylMe
UDre51ricle
fuDd5
21J21
f¥Dd5
2•22
Fee%
lees
3.744.N12
1678.W51
(Mb¥TducatiDnal i￿cOme
Mus1¢. Etsnce & d￿M￿. Sc1K￿0th1￿ aTh1c1￿bs
E￿mInalL￿$8￿dtxita ks'so
HorieTidin¥ 3nd 5tsble f¢e5
TrJnwort
Unilutm¥ YJKI iThiimC
1114.82_5
83.955
41,Y32
43.7H
37.7i6
?i.n74
6S.441
h2.641
3.377 li¢?
Intomtfrom Dlktrtr¥dillg¥rtiNilitS
Ullrestrirte
u￿￿￿1r1clEd
f*ttds
l￿DdS
1022
Aiurn4Sb LrtLi)nK'
RLnial ifxiJmL'
44.472
41.477
28,N)3
Othertrddin8 ￿tI￿Lne￿
IncoTrefrom InYeMmeTr
UTrrrB*rlclrd
(wnd¥
21121
f*nd¥
2022
p¥e 11

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
Uwrc￿￿td
2022
F•Trdrz15iDX publklty
CosTolraisill¥ futsts
EApLiditurro# charitxblr
ieathkn%
Z012
ieiiare
rremlses
2O2Z
20Z2
2022
Direct cosls
23i8.150
94.9
86.OrfJ
D¢Y￿-lation ifflpaiTmeM
107u15
844.4).1
247.fy)5
2.6W.897
Ify￿214
5¥6.679
5.554 ¥.36
ShHreof %overnaM¢e¢ostsiwe 9
Supp(xt
60￿c￿lsncc
-137.931
41.(kn3
74.461
y.lw
44b.59.1
4.(W5
54267
.Q5fs
4.n55.64S
fuDd
Unr¢siricied fuThts
3.068.￿1
5￿.05&
68V.74Y
4.U55.6I
eifat
Premises
TotHI
2021
2021
2021
Dirrct c￿51%
2.155.057
23%.421
2.393.4R4
106.A38
713.b4.1
'iUtiun Und impaiTmeThi
(lthercosis
22.120
323J52
123J27
2 778y4
345th72
5R9.5O1
3.213765
ShAre￿r SUp￿aNd g4)%ernaN¢eeoAtsiwe 91
Supp(
491.&12
62.651
74.1￿
127.23%
16.209
693.64Y
ax.
.8jl.018
4￿.786
j 995.780
A TrZI￿liS fvnd
lu￿
-813.Oi8
4_W.?86
7j&.956
3.995.750
p¥e 19

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
2D22
2021
169.644
27h.949
54.2G7
12Y,23U
364.419
OlhLr*up)IOll<ts%L%
5(Kb.8
AD¥lTrxd btt-
T¢a¢hin$
elfare
378,994
554.454
Preini5es
.1)7V
143.447
7I2.a15
21121
G•itrD4•re ro5tsrompr15¢:
Audit
29.)92
.1.827
26.955
Legal and prOtes&ki￿al
Tru%tCCs' cxpcnEcS
53.574
F8.-¥rf1
I3.%2', 12021. £4.1361 nM-4udit ¥¢hlL
l%ei D￿Vt￿¢llI IMf•Md5
ID21
2011
The ne( mDTre￿enr]n luth i%sf3ted aft￿d￿rgin£l(crti￿t￿g)."
29.)92
DePrec￿t￿n ofowned tanLpible fixed Jsx
Profit Dn di%p05&1 olthngible
IOh.&18
Tru5t¥V5
Nont of the ¢n￿te<S {or4thy PUsOtsCOThrteua*iih thm}I¢c¢ivthlu*VrtrnurteiaiK￿ orknefiis Ibestl￿OI durithg tkve#r.
p¥e 211

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
EThpl•yr
Th< aY¢N&c rn￿￿ty numb¢r0fwplwcsth￿￿¥ th¢JcdT*a5'.
10
73
72
Totsl
Iv3
LmP1•W￿lJt ¢oJts
2PZ2
2UZI
'38e&and saLirie5
2.355.818
?16.422
2(m).)￿?
2.19¥ 698
hwr pLYL¥k)n
334.577
2.772.76?
Reduithn¢y dfKI ￿l￿aliL￿1 ILAallin¥ £Nil IA1121.. £1.1661 we￿n￿de1￿ the rwrt1l￿ ffrtrityj.
Thctri%*rt nue[n￿OY¥tsM"h￿￿a￿ft￿3I ￿￿￿ticIati￿1kn £MI.IK*).
Rem￿*￿tIO* ofkt% rnith*¢tmtAt Per￿￿thE1
The reniUnerntl￿ of ke} InaNg¢xneiii per&)nr*l Wdsa5folJows'.
2022
2021
219.4
17Y.736
Inatm￿e[￿nt pet50nNel ihEHeathvatharMi the B￿r￿r.
13
TA%AtknTr
Thecknrity is¢XeIrt￿ from tsxati(m Its￿1vIlle5 be<3￿1¢ all its i%Jpplied fuCh￿13bIe pur￿5¢$.
p¥e21

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
14
T¥wgible fiK¢d HSSL'ts
Ctyst
At I SLyeMi￿r 7021
Dis￿#15
2.842J70
1.088.203
397.
4.744.847
At 31
2.342570
1.(¢1¥303
388.869
4.735.¥52
DcprL%iaiiDn andimwirmcNI
At I SLVimbir )n21
DeWeL￿￿tIll￿ iharged in the yedr
limirjattd io tLW¢t tsrdiSp￿ls
5n.7fv9
30.615
32o.gr)?
i%.44S
181641
18.?641
Ai 31 2112?
Xl.3XJ
333.X93
At 31_4kn8USt
3.56.010
54.V76
3.3'.7.Y5V
Al 31 2Th21
35¢KOIO
76.9ITr
425
Flxtd aA*et
C051 or i'*lu4ilTrn
Ai I Septeniber 21Ql L. 31 Alls￿￿ 202
166.743
•rI)i￿gaIn￿￿￿t
31 Augiu%t 2Q2L
AI 31 Au8uSI 711
2022
I￿27
(hhcrinsc51l￿ntsC￿np￿$¢.
te5
Irjieitmaits in sut6iOiarie5
166.74.1
locks
ID21
-79.73n
p¥e 22

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
D¢b¢fjr5
2D22
2021
Tyadedebtoys
AM￿￿1[5￿￿¢d hy ¥￿￿p unthrtakirgs
Oth¢T
PieyayiiiriilJ¥lid
587.¥14
22.830
62.196
12.5Y4
80.)77
672.267
Inclu&d Wlihin Ira& debiof6 l>aprthisJoM de￿S I￿ally￿8 Q6.WI%12021'. 126.WI%)
Lo#Tr$ and ￿Ver0￿#￿S
2022
21J21
BJiik QifTJraft¥"
Bank
374.42.I
1.157.533
I.IW?.687
PJyiblc wiihin Ilnr v¢3r
Pèyable ifth ￿¢year
374.463
l.D36.950
1.494.456
37.￿￿j
A bunk loan with LIDyds OTr l m￿_)019_ t4￿y￿ble by The IntEfe51 the 15
fixed ai 2.1% 3bok¢ the Lw tate.
A Back loan of£50.IKX> ¢¢rntrt¢￿g{￿ 7 May20th4 . tLPtr.a>kbJ 72 iionilily 2 5Y• fixed interest.
Tht* loan5WCrt 5eciirtd by the followin
A firs¢1¢￿711 rge QTrs¢rihe I'reelKild pmrerty oftkxknl
A Iir5t leyl charge overibe eqwsmjn tylhe gjbsidiary.
An un1iini￿d deE*niurt fronj Ikschool.
An unlim¢ieddebeiiiur¢ from Lwityn khwl Liqiityl.
An willihi￿d all tNJDies ftQtn Ihe ￿bsid￿.
p¥e 23

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
Cr¢ditQTS= falli•¥ di¢ withi•
2D22
2021
Bank and 05.￿tafts
Ohli¥:IION% under financi kYs¢%
Oth¢T lux ￿lil￿ d￿JY￿•￿I
D¥frtteJ liK￿l
Tiadecrtdiiors
Uth¢Y-rediiLYs
Ae¢rLwb dL.lenL￿ iiKOrnC
18
374.46!
fi3.510
1.494.456
50.Q23
-108.893
914.-%44
215 ?24
074.D60
its.994
5W.7¥5
-4.807.974
2D21
21121
4te5
Bank
18
1.03b.Y50
146.5?1
0bligiiio￿s undcr finthiicc Ica5f8
othLT￿r￿￿
19&.514
29? 825
52b.869
?￿21
Ari%ing fKMn SCW fe&s deferted
Deferred irKome is IrKI￿¢d inthe fin8Aci￿ swernenLsas foll(rtvs'.
2021
Curr¢ni IiabiliiiL%
914.544
Moi'ellienls in t￿year
Dif..
-.d 1TKttn￿. ￿ I 2UZI
9h.fi71
577.52%
R,.li-4)id pr￿￿1￿mi> LKTi(xb
R¢)yurr¢¥ th¥f¢Tr￿ in tIK
59fi.671
Dtfettcd 3t 31 A￿¥u￿ 2022
14.544
p4e 24

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
A Tr81Trsi5of w¢t *55¢ts brhvf¢l fwid5
Llllreytrkned
f*nds
2112
Reytrfrled
I￿al
21J22
At 11 Augwyi 2022..
Ta￿VibIL
3.3(hS.%73
L-urrect asset&{Iithlilie5)
Long Tctm ILabili()t5
[3.1_?5.6831
IX43.53¥1
LlireMrk¢ed
Rtstri¢ttd
f¥llds
2D21
T￿￿1
2•21
2021
At 31 4uRW$t ID21'.
Tan¥ible a55e15
Inv￿L￿rnI5
Lurrer.t a￿%el
7_414.919
1fi6.743
13.OY4.fy191
{5*0.R691
'Iliabilitie%)
liahilit]
13.W.f491
T￿. rL*lncicd ol'lk. ihe Won wbjccl knsywifi
timdilioTk% by li)hsh k"
41 1 5EPternL￿r
••21
Tr*n%feT5
2022
of the [￿Dderdo￿a[Cdto scknl
Pr￿Oll5 >ur.
I SeptE[R￿r
2•ZO
Tra￿Sle
At 31 Au%ist
Portrdlt vf thL. sch￿1
Sp)tts hall pioject
11.077
125.ts?61

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
IT￿ted fuThds
(Conti￿llEd>
Th< pllryw)¢ fJFihr rcstrici¢d turKJrfLI 1.077 15 lo rnaiTrlain th¢ Portrdil ofth¢ fOU￿¢T fiJrttK futUTC kn¢fil of Th¢ whwl.
This re5tri(IioD b¥ th¢CknritY thedLyitydiquir¢dth¢tKirtrait frLNn th¢dMrnJbk 0￿￿1&all0￿
weV￿yj$IY re5wn5i￿e lortheseknL
Tt8nskrJ t(tAeth furt￿5&[< ioteflr¢l tht rtstriC￿ futNJ5wbich full¥ wlilitsd thejJ restsiCljOtLs
fvlfill¢J. Th￿¢ have thereforeb¢¢Th r¢Ylasgfied ￿v￿re#￿¢￿0
UThr£stiicted
Th< f￿￿j50r th¢¢YdThty balw¢e50f *.hK.h Ar¢ Iiot subjeli to bFLifi¢
by Jnd l￿dn1￿9 ￿hO￿kn mai b¢w¢d. Th¢5¢ in¢l¥&dtygtMt¥J fu￿$ ￿7]Ch ha%¢ s¢135thwlof
nre51-Irtd fun￿bY the1[￿ for 5￿C[fiC pwt]h)5es-
Ai l S¢pl¢ml*r
2021
Tra￿Sfer5
At 11 AygM5t
1022
rxpl￿drd
R¢Nihwioti
ri￿lL.￿al
-1¥7.¥2¥
(l.233.3(￿l
3.457.076
14.2th.4qS1
3.4*1.07h
Preyious p¢Ar.
Al I Stpi¢nil*r
2020
TraNsf¢r¥
Al.11
exPE￿dEd
1021
ReN8IILqliofi reserst
fun
{232.94?}
3J15S.974
!.S?8.9-,4
25
The Sch(JoI partKipates in the Texlkys, Vertsi￿1 ￿1￿me l-tk TIS") rot its ieatltingsthiT. The p￿￿10A ¢harye for71￿ >ear itic1￿leS
¢oniributh)n5 pa)'thl¢ to ih¢TP5 of £39
-.1fj1121)?1." £2￿.1￿8)a￿daithC I59.2111￿￿ 3Kruedjn re5peci
Ihi$scheine.
The isan unfvntkd multi*inploverdefJned be￿r*S 5(heme sthetThed t1￿ TeacheJ5' ￿en&￿n% RegUl￿10￿S 2010 ia5
The TeAchers' P￿A$lott regulaiAMS IJ>14 {asaineft4kn11. M￿￿rs¢￿7IlLN￿t￿ a &4 you so'basis I4'ith
iQlltriblltk)11 from InenthT5 2nd [￿enPl0}er being CTEdited ￿the Exch¢quer_ Reliremenl ￿ht￿ benefits are pajd b)
blic tiinds prov)ded bv Parlian￿￿
Theemployerc0n￿1￿l￿Qn rale is set b!, the Secret3t% ofstate folloy4in¥%chetne ialualjoTrs I￿￿￿e￿ake￿ by the CK)vetntnent
Act￿ry'S D£p8rtnK￿T. The m￿1 recetht a¢ill8ri31 %81u&tith tsftkTPS wep3rtd A%ai 31 March 20108￿ The Val￿411￿n RerK%i.
.hich M'L% publis7￿ in March21119. c￿rIn￿ed thai ihe ewloyercon(ribwioTh ￿e for the TPS ￿￿Tru]d Ir£re￿ fri)m Ifi.4Th￿ t
23.fj1• fTom 1 5ep*tnber21)19. Emplvyet%aTe rwuiied its]My ￿￿￿￿￿lfdLiun lif0.0￿• loldl tn4?IIwEr
eOniYibllliOm NIL d'23.h8?•.
Tjie 31 N131ch ￿16 I'aluatior. Repm ￿**pr￿￿ed in xcrtince ￿114 rhe t¢rtfilS hl the S¥henk regulations ajid U￿¢r Ihe
approach speciliec In the Dire-ILon& &5 t￿. Jpplied at 5 March Tri)IY. HO￿￿￿tr. lie a55UJllPtion5 Con5]der￿ set b} the
Depallnwnt for Eduraiion PTior to the DJIMIV In lhe'kkCl￿KiSCv&e￿￿¢ Ca)e'. Thi$ required the tyconsider cJs¢5
regJrthniJ the Impl¢nY￿1a￿I￿vtr1h¢ ryjl) retQTrtb tlbth¢ PuiblK knILY P¢w%11￿ I[KI￿lin¥ th¢ I￿￿￿'Pensi(￿5
p¥e 26

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
25
(Conti￿llEd>
iln 2?Ju￿ ?019 thi SU￿Lf￿l C.'wrt ik. ID Jpr￿1 ￿. Cwrtnf Appral'% iyd&Ym¢nt thal trLn%ltiunai
PATr￿ in11￿1￿¢￿ io ihe ￿r￿¢Med *henth. In 7015 ri¥e 1*1 Lrtl&wful a¥e Qi)LYimiha.'iots. The ¥O*emmeni i
re5pee.ing the C'oul'5 ￿.[slOr 2nd has saMI il M'ill tngage fullv the Emph)iinenl TTiblln312s well as empl￿Tr and InernbEi
representstives io agree the dixriThiin3u(￿5 ￿ Ill b¢ renKdied. the ¥x)4enInJ￿* ￿)nounCed on 4 Febnr3ry 20?1 that 1¢
rvceeil ￿1th a dhiiceuthpin mETnlJeTh" will ￿a￿et0 either legary nr trfwmed ￿he￿￿ he￿rillI
thr l A￿1 2015 31 M4￿￿2022* ￿1x￿￿t itrw"knLHbtVdyabl¥
The TPS 1% siibiea ik) a Ci)M (ap nKrhani%n wh¢¢h in pl*Y i￿p•Ye￿. agairA unfwo%een thange s in theme
costs. The Cl)iefkcrt(Ar¥ io the TJtaSw5.. fr3Vin¥ its 2(Ili¢ aDnOiin¢al ihai thett wthjlé k a te%iew of thLS COST eapinechanism. in
Jani￿￿) 2019 annouiiced a paiw to cou fdp ￿ed￿lI1s￿ foll￿1th£ the CoutT of Appwafs niling in the McCloud,S¢r¥ean¢ case
al￿ Jr.d until ihere 15 ttrtaint) thollt th￿ Nalue of to employ¥￿ from Awl j015 onward4 The ?ause lified iii I￿).
21)2n. t4aS 24 tv ¢fr￿ 4iintn)I IN%hdliism l(bIkiwin￿ b) 1h
CJOvCtnmcnl ALt￿ry. FollU￿1￿¥ Ihi puElI¢ ion<ul(Xliurt. &c￿ed lh￿* kiy fccumniCtKkd bv ihe
ernmenl Actuary. andare JimiTr8 to thve changes in t]￿(￿￿t￿ 2U2UI'alua[MI￿_
ID Vl¢w ol. lh¢ atrrf>v¢ rulin¥4 amd d¢¢i%lOTh% I￿ *qumyKifiS in ibc 31 Kl?T<h 2016 A£i￿rIal IYalu31jOil In*y bLYiime
1rt3ppn)priate. Ihis a %alu*Livn PT¢partd *iih tevised betsefjts buiiable rtvi5&185s￿mffjl0rL4 wollld
)ield different r¢suh5 than ihose cowoined in rh¢ Actuxi?I vJIwi￿.
Until IhL cupnKxhani%m Liimyl¢y¢d il i¥ wwiblL tIT ¢L#KIuLIL' iln any litsunL'IAI jillPILt IuiuTr Iv Ik.
cunirl1A￿Lt￿l fdies of the TPD. At￿r&I￿gI> arty pa￿ benefit Cost is intludttd in tits&ti(ial
stste1￿n15.
Lenaiii lK￿-￿(adeMIc Maff are (éThe ￿1￿>1s, sc￿ne IisfENI. Thi) is an industy-M'id¢ fviiced
efinEJ bencfitb 5Lhctne. As a rc5uIL n is FwibleoTapyrvprihie lo ithiify ihe a55Ct5 and Iiabilili¢) ofihc 5knTrxiiiE wliich itE
The lasi foIinal ¥￿JaIl0￿ ofik 5cherne wa5 a5 ai 30 Sepi¢ynkn 2014 b) a Wf¢￿510￿11ty gmlified actuxy. The niark
valut of thi 5LtrTh￿'5 ￿5¢￿ aLihr Y￿￿11i￿ ￿￿5£110 milli￿. The rcNeal¢d y 5hDrthll of 355etsrol￿PSrtd ￿1th th
lu¢rf1141Mlititsofi37 Imillion. ¢qui%al¢fii W # PX>i funJill4r l¢%el of 7i°ts.
Annual funding updates of th- SCh￿￿e are catTied u51ll8 JfrfwDxirnate 3cliwi31 teChnIquL￿ rather thjn member bv InLYKb
calculatlQn5 and will therEfore prod￿￿ Lhe 5ainE results a5 a full aLliwial i'aluatiOD. Hoi4eNer. '.hey iTrill pro%'ide a bi(
Indi¢aiKbll ihe financial prosiKS% of ihe S¢￿ Si￿¢¢ rhe kn fill ￿81￿￿K)n. th¢ folk)winkT re13te ￿ the fi¥mial ￿l￿arIaL
luatiLM 30ScptLYI)iL7 ￿14.
The riTranc￿l UTKkrlying the val•atioTra5 al JOS•b¥r 201. &sfollowo".
Inieslnent relutn pre-relircincnl
RPI
cpi
ThL futuri. >¢ThI￿￿' LiinIn1￿Ll￿$ rJlj iKYTr drrfj if tlK i'aiualh)n ixbmi (Yut in prnctiL¢ thib
allctn ol.i0nlrib￿I0￿5 %hollk]bc %uftKicnl l*)cllrnitM￿ ￿1c¢￿t11rIihj 3l 1029.
p4e 27

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
25
(Conti￿llEd>
Th¢ TrnsiiTrn ti)r yiwr rLTLJLThts 1h¢ cit"£7(b.469{2D21 L26.469) Thv
year t￿1 £17.438 &ttuert in twii of t(yn1nbu(￿￿S io ihi% 5£h¢mc. I￿"hm￿d In thi% 1% a fixed mtsnihl> atr.Outsl of£i.Li9,
being tl.Ol¥ in re5peit of a￿1¢1[ tl 17 in re5P¢Ct of admini5ty11iNe ext￿5¢5. From I S¢o¢mber !V21 the filed
mont￿) anmxini h&4 Increas￿ ￿ 11.572 LlJ38 ib respeu ofdelicil thrthnis aThl £1.%: irt resp￿1 otadminisiraiii.e eX￿lS¢S.
In acci)YEt?nie ￿11￿ FRS 1¢12 h&t yw1$￿ a ljabilily intt441Klll its Ihc&fi¢il. rn£¥%uMI ai cl)￿ and includ
wJihiNoihcrctrdilots.
0￿. liAg I￿￿ C4YtlOJltn￿oTS
iK¥5¢¢
Ai i￿.[L￿1￿8￿Td dail 1￿c￿￿O01 ful￿￿ I￿￿￿. ￿V[lit￿lS WKlL*tK)n-tu￿cIIsbk
rwraiin¥ IL%S¢%. fall fDlhM.'
2022
2021
Within Dne
92_5
35.952
y!_f
BctivcrNlwts
3fi.877
27
EweDts*ftÈr thè ￿p￿ti￿bE date
ftLYthe balat￿. daic. Ill￿ I￿**¢da￿a￿.ThCschth)l yin¥ ihr¢Wi thL
riLxruJlingp a Ilc*l Te2cker.
Rebttd p*rl!' lrnnsArtilln5
DuTinE the the 51kn1 eTrter¥d into thefollowinE5tran5th0Th5 with ￿LI[￿dpa[kne￿..
DuTin[ they￿￿ of£28.b7bl2021." £18.lIH)￿￿￿ M￿[k￿￿ Gardw Limited. a [￿npanY in which Bryan
M￿khAn7. a Direc10r of LiKtyn Sch￿1 LiJAi*divho on Ser*nkr2021. haiac4)ntrolliiig interest. There isarl arnouni
£￿ed lo A4atkhar.IGat4ies Limited 01£5.781 12021". £3.7?4) I￿lu￿ In I￿￿tredItO[S￿t Ihe )ear e￿.
Thechildren ofststl'aiid irU￿teS ma>. aneThJ t￿s(IN￿)L In such irusttt5 rAJ'5cknI fee5 ai ihe stsThlard raies akailable 10 311
parents. bDlslatTJnetnbet5 rnay receive afee tEm155ional an Jgreed rate.
During thevtdr eth_"?l A￿U51 2021 expense5 totalling ￿ere reiinbU￿0[ paKldi]wilv to I Ern￿et. Expen5e5 relale to
Ira%el and ￿atiL￿{2O2J". £3ts1 was trirnjutscd to 3
Intercompan> ba￿￿eS￿l the yeart￿ wetr115.20112t)?1". I12.5¥4Iowed bv Lwton School Limi￿ and E7.fy2%12D21". £10.5541
D￿ed by L￿0￿ Irierna¢ional Limiied.
Ai eharit) 0￿rd Ll 74D)￿ IOAlph* khtsoL5 HoJdiNg* Litnitot
prfe 21

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
29
Swb5iliari¢5
rk¢uil% ofthc ￿h￿l.5 wbsidiari¢5at.71 An￿￿51 W22 ar¢ a5 follo￿..
*mÈ•futhiÈrt*kl*#
Clam
Y• Hèld
tsifite
DireL* Indirttt
&Jwl.
Luiloo ￿￿nIn￿lir.
Hereford%hJre. HRfy
9PN
LUCIM IniLYNti4))Ml S¢￿*)1%
Q¢thnarY %hart
I￿.0D
Lwion. Leomjn%T¢r.
H¢refordshite. HR6
9PN
The 3ggtry3teL￿Pj￿l aTrl Tesetvesand [herV￿￿E foithtye3rofsthidrdritsexdudEd frorn c4J]LS01thiion folloM%".
tne•f Undert￿kill¥
PrDfiVILosJl
L1rnI￿
161.l&7
C%5b gYwrJtLyI frotD opuatiDwJ
2022
2Q21
Deficit foriheyear
IW.i.682)
Adjii%1wthi.% frjf..
InvibtlThLlIt inLXYrnI fL'LXlWi*'a in STdlcnii￿T￿)rfi￿aThc1￿I aLtiYiI
t)el￿¥￿t￿)n inwimwt bl¢ fiiAI
I￿)
11)6.638
Move￿Ie￿[S in ￿0[king(￿piLlI".
Decre3w'iincrea$el in stL
1lntrii￿trdLrrLz￿ in&-bkniwfi
I￿￿(deL.Te>￿el in a¥ditOT>
I￿re￿ In defetrgd iNcotne
3¥.730
1495.)54
11 l.Y44)
991.7(rf
C*5h ¥fflernt¢d from11th￿rbed bvTr fypeMi•Ns
p¥e 29

LucfoN PIERREpoYf SCHOOL EDUCATIONAL TRUST
INOTES TO THE FINANCIAL STATEMENTS (CONfiNuED
FOR THE YE4R EIN'DEJ) 3J.4[,IGI..ST2022
A￿*1)315 nctlthljtvfww
&i.11 4u¥y*1•21
L35h 3ibank and
7)4
{7W)
55.fi97
B3nk
1373.6991
54.997
I318.￿2)
L0an5fdllinba￿ wiihinon¢ y*Jr
LOw15f￿11￿S di￿ ift¢rTrKY¢ Q￿y￿aT
Oblig￿11￿￿￿5 undcr fin?nc¢
I.(HA.296
IWI.450)
(37.I,J)I
(24A.5b71
(l.L)16.950)
(1.777.799}
156.373
32
*Tr-*dll 5ervlttt prr•vhJod hv athlhor
p¥e 311

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