||Pages| |---|---| |Trustees'
Annua
I Report|2to 9| |Independent
Auditor's
Report to the members ofTerra Nova School Trust Limited|10to 13| |Statement of Financial Activities|14| |Balance Sheet|15| |Statement ofCash flows|16| |Notes to the Accounts|17to 29| |Detailed Statement of Financial Activities|30to 32| ## |Registered|charity|name|name|Terra Nova|School Trust Limited|School Trust Limited|School Trust Limited|School Trust Limited||| |---|---|---|---|---|---|---|---|---|---|---| |Charity registration||number||525919||||||| |Company|registration||number|00554799||||||| |Principal office and||registered||Terra Nova|School|||||| |office||||Jodrell Bank||||||| |||||Holmes Chapel||||||| |||||Cheshire||||||| |||||CW4 8BT||||||| |The trustees||||||||||| |||||EJ Lees-Jones||||Chair||| |||||M J Grice||||Vice Chair||| |||||ESStanley||||||| |||||AC Dick||||||| |||||M A Boulton||||||| |||||A R Peak||||||| |||||KCampbell||||||| |||||J P Standen||||||| |||||L ETulloch||||(Appointed|1November|2023)| |Company|secretary|||N Parkin||||||| |Senior Statutory Auditor:||||Stuart Banks FCA||||||| |Auditor||||Banks Sheridan||(Statutory||Auditor)||| |||||Datum
House||||||| |||||Electra Way||||||| |||||Crewe||||||| |||||CW1 6ZF||||||| |Accountant||||Bruce Marshall||and Co.||||| |||||The Old Fuel Depot||||||| |||||Twemlow|Lane|||||| |||||Twemlow|Green|||||| |||||Cheshire||||||| |||||CW4 8GJ||||||| |Bankers||||National
Westminster|||Bank PLC|||| |||||10Great Underbank||||||| |||||Stockport||||||| |||||Cheshire||||||| |||||SK1 1LL||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |for the year ended 31August|2023||||| |---|---|---|---|---|---| |||Unrestricted|Restricted||Restated| |||funds|funds|Total funds|Total funds| |||2023|2023|2023|2022| ||Notes||||| |Income and endowments|||||| |from:|||||| |Donations
and legacies||20,415||20,415|316| |Other trading
activities||3,415,308||3,415,308|3,377,913| |Investments||7,316||7,316|564| |Other||332||332|17,486| |Total||3,443,371||3,443,371|3,396,279| |Expenditure
on:|||||| |Charitable
activities|10|3,860,719||3,860,719|4,065,869| |Other||16,340||16,340|5,875| |Total||3,877,130||3,877,130|4,071,744| |Net gains on investments|||||| |Net expenditure|12|(433,759)||(433,759)|(675,465)| |Transfers between
funds||52,129|(52,129)||| |Incoming resources|||283|283|39,619| |Net expenditure
before other|gains/(losses)|(381,630)|(51,846)|(433,476)|(635,846)| |Other gains and losses|||||| |Net movement
in funds||(381,630)|(51,846)|(433,476)|(635,846)| |Reconciliation offunds:|||||| |Total funds brought
forward||1,526,701|313,134|1,839,835|2,475,681| |Total funds carried forward||1,145,071|261,288|1,406,359|1,839,835| ||||Notes|2023|2022| |---|---|---|---|---|---| |||||f|f| |Fixed assets|||||| |Tangible assets|||16|1,736,824|1,865,407| |||||1,736,824|1,865,407| |Current assets|||||| |Stocks|||17|12,446|136| |Debtors|||18|190,398|179,352| |Cash at bank and||in hand||929,359|817,710| |||||1,132,203|997,198| |Creditors: Amount|falling due within one year||19|(1,440,310)|(990,394)| |Net current assets||||(308,107)|6,804| |Total assets less current liabilities||||1,428,717|1,872,211| |Creditors: Amounts||falling due after more than one year|20|(22,358)|(32,376)| |Net assets excluding||pension asset or liability||1,406,359|1,839,835| |Total net assets||||1,406,359|1,839,835| |The funds ofthe charity|||||| |Restricted funds|||||| |Restricted
income funds||||261,288|313,134| |||||261,288|313,134| |Unrestricted
funds|||||| |General funds||||1,145,071|1,526,701| |||||1,406,359|1,526,701| |Total funds||||1,406,359|1,839,835| ||||2023|2022| |---|---|---|---|---| ||||f|f| |Cash flows from operating|activities|||| |Net deficit per Statement|of Financial Activities||(433,476)|(635,846)| |Adjustments
for:||||| |Depreciation
ofproperty,
plant and equipment|||139,423|143,010| |Loss on sale ofmotor vehicle|||26|| |Impairment||||171,792| |Interest received|||(7,316)|(564)| |Decrease/(Increase)
in|stocks||(12,310)|19,360| |Decrease/(Increase)
in|trade and other receivables||(11,046)|71,551| |Increase/(Decrease)
in|trade and other payables||448,723|(18,694)| |Net cash used in operating
activities|||124,024|(249,391)| |Interest received|||7,316|564| |Net cash used from operating
activities|||131,340|(248,827)| |Cash flows from investing|activities|||| |Payments
for property,|plant and equipment||(11,342)|(203,849)| |Sale proceeds|||476|| |Net cash used in investing|activities||(10,866)|(203,849)| |Cash flows from financing|activities|||| |Repayments
ofobligations
under finance
purchase
contracts||lease and hire|(8,825)|(7,489)| |Net cash from financing
activities|||(8,825)|(7,489)| |Net (decrease)/increase|in cash and cash equivalents||111,649|(460,165)| |Cash and cash equivalents|at the beginning|ofthe year|817,710|1,277,875| |Cash and cash equivalents
at the end ofthe||year|929,359|817,710| ## ## ## ## ## |Income||||||| |---|---|---|---|---|---|---| |Recognition||of|Income from contracts for the supply
of services
is included|in the Statement
of||| |income|||Financial
Activities
(SoFA) when
the
charity
becomes
entitled
to, and
virtually|||| ||||certain to receive, the income and the amount ofthe income|can be|measured
with|| ||||sufficient
reliability.|||| |Income withrelated|||Where
income
has related
expenditure
the income
and
related||expenditure
is|| |expenditure|||reported gross in the SoFA.|||| |Donations
legacies||and|Voluntary
income received
by way ofgrants, donations
and gifts is included
in the
the SoFAwhen receivable
and
only when the Charity has unconditional
entitlement
to the income.|||| |Investment||income|This is included
in the accounts when receivable.|||| |Expenditure||||||| |Recognition||of|Expenditure
is recognised
on an accruals basis. Expenditure
includes||any VAT which|| |expenditure|||cannot be fully recovered,
and
is reported
as part of the expenditure
to which
it|||| ||||relates.|||| |Expenditure||on|These comprise the costs associated
with attracting
voluntary|income, fundraising||| |raising funds|||trading costs and investment
management
costs.|||| |Expenditure||on|These comprise
the costs incurred
by the Charity
in the delivery||of its activities|and| |charitable|activities||services in the furtherance
ofits objects, including
the making|ofgrants and governance||| ||||costs|||| |Governance||costs|These include those costs associated
with meeting the constitutional||and statutory|| ||||requirements
of the Charity,
including
any audit/independent|examination
fees,||| ||||costs linked to the strategic
management
ofthe Charity, together||with a share of|| ||||other administration
costs.|||| |Other expenditure|||These are support costs not allocated to a particular
activity.|||| |Taxation||||||| |The charity||is exempt|from corporation
tax on its charitable
activities.|||| ## ## ## ## ## ## ## ||||||||Unrestricted|Restricted|| |---|---|---|---|---|---|---|---|---|---| ||||||||funds|funds|Total funds| ||||||||2022|2022|2022| ||Income and endowments|||||from:|||| ||Donations|and||legacies|||316||316| ||Other trading||activities||||3,377,913||3,377,913| ||Investments||||||564||564| ||Other||||||17,486||17,486| ||Total||||||3,396,279||3,396,279| ||Expenditure
on:||||||||| ||Charitable|activities|||||4,065,869||4,065,869| ||Other||||||5,875||5,875| ||Total||||||4,071,744||4,071,744| ||Net income||||||(675,465)||(675,465)| ||Transfers between|||funds|||21,217|(21,217)|| ||Incoming resources||||||39,619||39,619| ||Net income before|||other||gains/(losses)|(614,629)|(21,217)|(635,846)| ||Other gains and||losses:||||||| ||Net movement||in|funds|||(614,629)|(21,217)|(635,846)| ||Reconciliation|offunds:|||||||| ||Total funds carried|||forward|||(614,629)|(21,217)|(635,846)| |6|Income from donations||||and legacies||||| ||||||||Unrestricted|Total|Total| |||||||||2023|2022| ||Donations||||||20,415|20,415|316| ||||||||20,415|20,415|316| |Income from|other trading activities|other trading activities|||Restated| |---|---|---|---|---|---| ||||Unrestricted|Total|Total| |||||2023|2022| |Gross fees|||3,906,757|3,906,757|3,861,567| |Allowances,|bursaries|and grants|(494,102)|(494,102)|(489,043)| |Letting income|||2653|2653|5389| ||||3415308|3415308|3 377913| ## |||||Unrestricted|Total|Total| |---|---|---|---|---|---|---| ||||||2023|2022| ||Bank interest|receivable||7,316|7,316|| |||||7,316|7,316|| |9|Other income|||||| |||||Unrestricted|Total|Total| ||||||2023|2022| ||Grants|||332|332|17,486| |||||332|332|17,486| |10|Expenditure|on charitable|activities|||Restated| |xpenure
on car|a|e|acves|||||Restated| |---|---|---|---|---|---|---|---|---| |||||||Unrestricted|Total|Total| ||||||||2023|2022| |Education costs||||||519,734|519,734|606,621| |Other interest
payable||||||2,910|2,910|3,269| |Employee costs||||||2,487,836|2,487,836|2,583,021| |Motor and travel costs||||||32,695|32,695|34,731| |Premises costs||||||406,220|406,220|359,921| |Amortisation,
depreciation,
disposal offixed assets|||impairment,|profit/loss|on|139,449|139,283|143,010| |General administrative||costs||||159,484|159,580|152,856| |Lega I and professiona|I|costs||||128,802|128,802|182,440| |||||||3,877,130|3,877,130|4,071,744| ## ||||Total|Total| |---|---|---|---|---| ||||2023|2022| ||Governance
costs||16,340|5,875| ||||16,340|5,875| |12|Net expenditure|before transfers||| ||||2023|2022| ||This isstated after charging:||f|f| ||Depreciation
of|owned fixed assets|139,403|143,010| ||Auditors'
remuneration||5,100|4,000| |13|Staff costs||2023|2022| ||Salaries and wages||1,953,045|2,072,344| ||Socia I security costs||184,235|192,988| ||Pension costs||314,830|314,385| ||Other employee|benefits|35,726|3,304| ||||2,487,836|2,583,021| ||Salaries bands:|||| ||6110,000 - f119,999|||| |2023|2022| |---|---| |Number|Number| |75|82| ## ## |Tangible fix|ed assets|||||| |---|---|---|---|---|---|---| |||Land and|Fixtures,|Motor|Capital|Total| |||buildings|fittings &|Vehicles|Work in|| ||||equipment||progress
f|| |Cost or revaluation||||||| |At 1September 2022||2,842,174|1,067,700|29,330||3,939,204| |Additions/(Disposals)|||11,342|(29,330)||(17,988)| |Transfers||||||| |At 31August|2023|2,842,174|1,079,042|||3,921,216| |Depreciation|and impairment|||||| |At 1September 2022||1,430,426|614,613|28,758||2,073,797| |Elimination|on disposal|||(28,828)||(28,828)| |Depreciation|charge for the year|66,863|72,490|70||139,423| |At 31August|2023|1,497,289|687,103|||2,184,392| |Net book values||||||| |At 31August|2023|1,344,885|391,939|||1,736,824| |At 31August|2022|1,411,748|453,087|572||1,865,407| ## ||||2023|2022| |---|---|---|---|---| ||Raw materials|and consumables|12,446|136| ||||12,446|136| |18|Debtors|||| ||||2023|2022| ||Trade debtors||105,723|82,770| ||Other debtors|||860| ||Prepayments|and accrued income|84,675|95,722| ||||190,398|179,352| |||||2023|2022| |---|---|---|---|---|---| |19|Creditors:||||| ||Amounts|falling due within one year|||| ||Obligations
under finance lease and hire purchase||contracts|9,593|8,400| ||Trade creditors|||257,440|72,643| ||Sureties|||138,453|138,500| ||Other taxes and social security|||73,803|94,956| ||Other creditors|||8,807|41,523| ||Accruals|||60,774|49,775| ||Fees paid|in advance||891,440|584,597| |||||1,440,310|990,394| |20|Creditors:||||| ||Amounts|falling due after more than one year||2023|2022| ||Obligations
under finance lease and hire purchase||contracts|22,358|32,376| |||||22,358|32,376| ## |Movement|in funds|||||| |---|---|---|---|---|---|---| ||||Incoming|||| |||At 1|resources|Resources|Gross|At 31| |||September|(including|expended|Transfers|August| |||2022|other gains/|||2023| ||||losses)|||| |Restricted funds:||||||| |Restricted|income funds:|||||| |Old Appeals||88,841|||(5,098)|83,743| |Centenary||68,647|||(10,022)|58,625| |Kennedy
Fund||74,200|||(2,120)|72,080| |SENCO||32,003|||(865)|31,138| |Bursary Donations||15,419|283|||15,702| |Timpson
Fund||34,024|||(34,024)|| |Total||313,134|283||(52,129)|261,288| |Unrestricted|funds:|||||| |General funds||1,526,701|3,443,371|(3,877,130)|52,129|1,145,071| |Total funds||1,839,835|3,443,654|(3,877,130)||1,406,359| ## |Analysis ofnet assets between funds||| |---|---|---| ||Unrestricted|| ||funds|Total| ||f|f| |Fixed assets|1,736,824|1,736,824| |Net current assets|(308,107)|(308,107)| |Creditors due in more than one year and provisions|(22,358)|(22,358)| ||1,406,359|1,406,359| ## ## ## ## ## ##