REGISTERED COMPANY NUMBER.. 00888176 IEngland and Wales) REGISTERED CHARITY NUMBER: 52S924 REPORT OF THE TRUSTEES AND FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 FOR WILMSLOW PREPARATORY SCHOOL TRUST LIMITED Clarke Nicklin LLP Chartered Aceounlants and Slatulory Auditors Clarke Nieklin House Brooks Drive Cheadle Roy818uslness Park Cheadle Cheshire SK8 3TD WILMSLOW PREPARATORY SCHOOL TRUST LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2023 Page Report of thè Trustaès 1 10 15 Report of the Indèpandent Audltors 18 10 fj9 statem8nt of Financial Actlvltles 20 Balance Sheet 21 Cash Flow Statem8nt 22 Notes to the Ca$h Flow Statement 23 Notes to the Flnancl31 Statements 24 to 33 Detalled Statement of Flnancial Actlvitlès 34 WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 The Govemors who are also th8 members and director8 lor the purposes of the Compani&s Act 2006, present their report, which includes the Report ol the Directors,, with the financi81 statements ol the chaiity for the year ended 31 August 2023. The trustees, refe￿ed to as Governors, have adopted the provisions of Accountlng and Reporting by Chaflties.. Statement ol Recommended Practlcg applicatAe io charities preparing their awounts in accordance with the Finanaal ReFXJrting Standard applicabje in the UK and Republic ol Ireland IFRS 1021 leffective l January 20151. OBJECTIVES AND ACTIVITIE8 Oblectlve In acoordance with its objects, the &ctlvlty of the Trust Is the éducational development of puplls at the Imslow Preparatory Sthod IWPSI, prc)viding fUl￿tIm6 education lo pupils aged 5 10 11. Full or part-lime eduixlion is provlded to pre-Receplion children from the age of S. Tho Sohool's ovemll objective is lo.. 'PmMde the best possits18 educalon lor its wpls in a happy, caring and stimulabng environmenv. Alms The School's speclfic aims are then identified a5 the following.. To provide academic e￿ellence through a broad, b81anced and varied curriculutn., To ensure that our pupils develop lively, enquiring and creative minds., To value each boy or gill as an in(lividual so as to m8ximi88 his or her potential and Confiden￿., To offer a sale, klnd and cariw environment.. Ta encouraoe self-res￿oI and re5ped for others. These ar8 then underpinned by a number of key bu&ness obj8Ct*ves as folloN8'. To sustain finan￿￿1 viabilily, by maintaining pupil numbers and conltnua11y reviewing exp8nd¢ture items In order to control co31s', To recruit and retain hlgh ￿lIbre siaff, between them bring broad leathlng experience. a V8ri&ty of creative skills and strong management 8nd technieal skills., To maintain premises and buildings lo a hi9h quality to assist the above educational airns to be a¢hiÈved. In selting our spe(￿[1¢ objeciives and planning our activities for the academic year 2022123. our Go￿rnorS continued to be mindful of the Charlty Commission's general guidance on publi¢ benefit. Our particular objectives lor the year included.. To ensure delivèry of a high calibre remote learnlng programrne whlch prepares chiklren for today's world., To continue lo focu5 on the we114)elng ol our pupils and siaff,. To focus on recruitment into our R8CèPtion dass wher8 there is a low birth rale year group,. To prthqde CA)ntinuing support ol wr pupils already In receipt of fee 8$8iStance through bursaries,, To developjoint working wlh loc81 stalejunior schcol8', To enliance and develop our Information and CornmunIcat￿nS Techno109V IICTI strategy lo ensure we deliver our teaching though up-to-dale methodologies and equipment., To continue lo explore opportunities lor working wllaboratlvely with King's SGllwl Macc188field through our strategic partnerghip arrangements., To continue lo dewelap our role in the life ol our local community through our d)arlIa￿e and community aclivlties, whilst adding to the alkround education ol our puplls. Page 1 WILMSLOW PREPARATORY SCHOOL TRUSY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 OBJEGTIVES AND ACTIVITIES strategy, Ethos, Access, Edu¢atÈonal Llnks and Bursary Poll¢y strategy.. The Governors 8re responsible lor agreeing 8 8tr8legy lo achieve our obj'ectives. The focus ol our 81ralegy Ss on Ihe continued development of our pupils. so that each child achieves hislher potenli81, through hiuh levels ol academic and gxtr8-curricular achievement, and lo further widen awess lo thè education our School provides. Our etho8- We aim to be a happy, caring school, whith cYe8tès a strong sense of ¢ornmunity and seeks to serve the local communlly and SOCAely. WPS is a char1thb￿ trust, s￿l¢h 8eeks lo benefit the public through the pursuit ol Its staled airns. Our fees are set at a level lo ensure the finan¢Aal vpbility of tha Sch¢x)l and at a level that B conslstenl wth our aim of providing 8 fir81-class education io our pupils. Our School welcomes pupils from all baokgrounds. To admit a prospective pupil we need to be sati6fjed that our Sehool will be atAe lo educate and develop such a pupil to Ihe best ol hislher potentlal and in line with the general standards ad)ieved by hislher peers. There is no assessm6nt for enty inio our pre-school or Receptlon years, informal ass8ssment and inteNew for thè Inf8nts (forms Prep 1 and 21, and more formalised inletview and assessment lor entry into the Juniors Ilorms Piep 3 61. These methods help u5 to satisfy ourselves and parents that potenual pupils can cope with the Pa￿ of learnirvj and benefit from the edL￿atIOn we provide. An IndividLiaYs economi¢ status, ethnicity, race, religlon and in most case8 disability do not form part ol our as8es8ment processes. Our Schod Is eommitled to safeguarding and pr(#Moting the welfare of our pupils and expects all staff and volunteers lo share this commitment. Our most iecent Inspection by Independent SclKJols' Inspeclorale (ISI) was a Compliance Inspection which look place in Novembèr 2021. We were rigorously assessed across 0518 12Ctors, Induding Welfare, Health and Safely ol Pupi15, and were judged as compliant Ino grading IS issued for this type of inspection). Our rnost recent Educational Quality Inspection was in July 2017 when we achieved 'excellenY on all th9 OUtc(Mlles a8se88ed, The past￿al care prowded by our staff was described as excdlenl.. Parents are given régular information about thelr child's sorial and 8¢ademic progress through par6nts' evenings. in addllion lo the tradllional end ol term and year reports. We malnlain regulw contact with parents throughout th8 year through inlorfflal contact and through our weekly newsletter. All pupils have a Form Tutor responsible for pastoral care and acaclemic development. We also h8ve 8 sy$t6m ol'buddies. who are involved in 8s%sting teaching staff In enforcing our very vigorous anll-bullying policy. Robust stralegios are used to SUPPL¥rt th8 overall well-beirvJ ol our pupils. We are 8n equal opportunity organis8tion 8nd are commilled to 8 worklng environment that Is free from any f(Yffl ol discrimination on the grourKls ol colcyur, race, ethnlaty, religion, *%, sexual odentalion or disabl1￿y. We wll make reasonable acljusÈm8nts to meet the needs of staff or pupils who are or become dIsab￿d. Access: 11 is important to us ihal the f4rst elass education we offer is not restricted to those can afford our fees, and we bel'eve th81 our pupils benefit from leaming within a diverse cornmunily, through social interaotion and shared experiences, which helps develop each indiv¥lual'8 wider understanding. Page 2 WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 AUGUST 2023 OBJECTIVES AND ACTIVITIES Educational Ilnks- Our School is part of a wider communlty and we are keen that our staff and pupils p8rtiQP8te in that. We offer our lacilitios for a variety of sporting devdopment actI￿tieS for children frotn other 8ch(K)Is through sport fixtures and are constantly looking lo develop this. We also offer a holiday club during Sch¢x)I holiday periods and a Nursery, both through an external provider, and both are open lo children frorn the vAder community. We have organised cour8e8 where we invite other schools ta participate, which obviously is beneficial to them, and specialist teachers meet wilh others from different schools lo discu88 best praebee and sh￿e ideas. Such meetlngs are open lo any local school. Bur8ary Policy: The Govemors view our bursary awards as important in hèlping lo ensure that children from families who would otherwise not be able lo afford tho fees can a¢￿$S the education w8 offer. Our School 18 a $rn811 prep School without the benefits of having any large endowments, and in funding our awards we have to be mindful that we must ensure a balance between fee-paying parents, many of whom make con8ider8ble Ison81 sacrifices to fund their childs education. and those benefiting from the awards. Our bursary awards are available io all who meet our gener81 entry requirements and are made solely on the basis of parental means or to rdieve h8rd3hip where a pupil's edUCat￿n and future prospects wotsld olh&ywi88 be at risk, lor example, in the case ol redundancy. The 8wards range from 10% to 1000 remission of lees. We also attempt to supplement bursary awards to pay for extrs-eurricular activities, equipment and school trips, in particular hardshlp cases. To 8mph8sise the importance we place on conlinuily lor families, we also offer discounts whero paients have more than child at the School. A di8caunl schemè where staff members ch￿se to educate their child 81 wr School is also in place, which we 1ieve can help to attract and retain high quality staff. InforMat￿n alx)ut fee assIstat￿e is provided to all who appty to WPS. We also advertise the fact that we offer Bursaries through the local press, and in any advert we place, a8 well as on ourwebsit Page 3 WILMSLOW PREPARATORY SCHOOL TRLIST LIMITED REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT Achlevement and performance OpgTational performance The told number ol pupils educated during th8 year 8veraged 130. Oui fee5 for 2Q22123, before the deduciion of any burssries or discounts were.. ndergarten Infants Middle Juniors Upper Juniors £385 pèr 88s8ion per week per term £3,730 per term £4.030 per term £4,370 per term Academlc perfomance Our lull inspection result trom 2017 Is our most retsnt full external independent Sthool In8Péetorate IlSII inspectiors, where inspectors, yet ag31n, awarded W'lm8low Pr8P tha highest possible judgement in all C31egofies inspeded. ol 'ex￿lIent'. In Novernber 2021, WPS met all the requisite standards in the Compliance Inspecti￿. This year form Prep S le8vers all chose to sit entrance examinations lo Indep¢ndenl Senlor Schools, and 8galn achleved an excellent pass rate. Children ieoeived rnulliple offers, a total of 39 ofters, including scholarships, across 16 children, lo Manchester consortium schools, which include some ol the North West'8 lop schools. Pupils at the School s￿ formally assessed in the Sumrnei Term Iwth Prep 6 being assessed in the Au￿mn in preparation for the Senior School exams). Pupils in the Early Years Found81ion Stage IEYFS, which incorpoiates the pre-sehool and Reception years). cornplele informal assessmenls and pupils in Years 1 6 complete formal assessrnenls in English and Maths Iyears 1 61 plus Verbal 8nd Non-verbal ReAsoning (Years 3 81, to assess academic progress and ability. Cutrenuy the School use GL Education Assessments. For Koy Stage 2 pupi15 lie Years 3- 61 the English and Mgths assessments are completed line and analy8ed externally prov￿Ing an in-depth analysis of e3ch pupil's performance. The tests arè standardised to a That￿nal scal@ whit* enable staff to fully track each pupil's progress, whld) is communicaled regu5arly to each pupil's parentlsllguardianl81. Our EdL5calional au31ity Inspection in June 2017 noted that all groups of pupils made excellent progress In relation to their 8tarting positlon and the ability profile ol the School is 8bovÈ average, which continue8 to be the case. Page 4 IMLMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT Achievement and performance Mu8ic- Music is a strorvJ feature of Wilmslow Prep Ille and 2022r23 the School enjoyed anothér busy and successful year of music. Ovar 70% of the children in Prep 2 . 6 conlinL*e lo have Indlvldu81 muslc lesscA)s lit) addilion lo class muslc lessons) in one or rnore area8. Children in Reception and Prep l also start lo take individual 18sson8 as the year progre88es. Fivg professional mus£cl8ns come in lo deliver the instrumenial and voc81 lessons eath week as well as a muslc spèclallst lo leach curriculum music. 77 lessons &ie delivered eath week 12 in.qtrumentslvoice. We a180 purcliased a sel of plasllc wind instruments so that the chlldr8n ill KS1 could 811 have the opportunity of trying an instrument in their curriculum lessons witrout having to commit to 1..1 lessons. Muslc dub8 includè Chamber Choir and School Orchestra. Each ol Ihese groups performed al the Carol cOn￿rt aThJ al Speech Day. We extended our groups lor instrumental learners by introdutsng 8 lunchts.me club for reex>rders and anolher lor wind in8lrumonls. Al Christmas, Kindèrgarten and Re￿ption performed tho 'Nativily for Little Ones. and Prep 1 and 2 performed 'Boogie Woo9ie Nativity.. The whole School took part in a splendid Carol ConceTI 31 Wilrnslow Leisure Cenlre. W8 also went carol singing across the road at C8nlerbury Grange, to Vlfilmslow Library and through the town centre on the last day of teim. Th6 Chamber Choir were also invited to lake port in a Christmas Event 8t Tatton Hall. Each year we hav& an intèrnal House MUS￿ Competition and this year we had 72 performances from 60 children. We welcomed. as Adjudicator,. a fortner Deputy Head ol Music from Dawe Allan's School in Newcastle, who was extremely impressed with the staThSard ol the performances. Our Prep 3 and 4 puplls prepared their show called 'Jill and Fr8d'8 Hysteri￿1, Hislorlcal Adventure., There is much talent across these Iwo classes gnd many buddlng drama and music students to look out lor in the years lo come. W8 experlmenled th4th digital bad(drops and hope to investigate this further in the future. For Alderley Edge Festpial this ye8r, we dsclded to enter 5 thoirs, winning two first places and th￿e second places. Th&re was a new Community Choir section, so we formed a Staff Choir. Many member8 had never perfotmed in a choir before, and th8y ie8lly enjoyed it, so we have deuded lo continue this year. There were excellent perfomantss from individual children lots. One pupil was chosen to p￿lOrM al the final celebration coll￿rt on the Saturday eveniry a r8818ccol8de. The Goronatlon Trlebralions saw all children ￿ngIng togathar during a whole school celebration. 22 Pupils took MUS￿ Trinity Exams this year,. 7 achieved a distinction. 8 a merit and 7 a pas8. Three puplls were very close to a¢hi8viNJ lull merks. Three further pupils reach8d Gradè 4 8nd one ol these gained a distinction. Prep 5 8nd 6 performed their show in J￿y- Wz8rd ol Oz,. thè costumes, props. acting, and singing were all excellenl. Speech Day was yel agaln a mam(Kable occaston and there w￿9 many superb performances trom our fabultsus musicians. Staff and Children sang the final song together. Speech & Drama= Speech and Dram8 is laughl ss part of Ihe limelable to all chilthen from Rec8pllon upwards and c¢y)linues to go froEn strerbgth to strength. KG are involved In a number ol our whole 8chod event8 and 8peoial dayslassemblies, Page 5 WILMSLOW PREPARATORY SCHOOL TRUST UMITED REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT Achlevement and performance Our Leaming AmbaSS￿l0rS lin Prep 6} spegk al a range ol speoal occasions io introduce Ih8se 8V8nt8, which gives them 8 wonderful experienee of public speaking to 818rge au¢Sienc8. Ouring the year, 811 the thild￿n had the opportunity to take part in 8 productK>n èithèr 8t Chrtstmas, Easter or al the end ol the Sumrnei. Term, as well as during particular assemblies. It has been wonderlul lo be aNe lo enter the 16stivals such as thè Alderlèy Edge FastiV81 and th8 English SpÉsking Board IESBI examinslions. A very high proportion of our children entered the Alderley Edge Feslival and 16 children reeeived 1st to 3rd plaangs. Children in Prep 3-6 èntered the ESB exarninations WI￿ 8XC8Ption81 number achieving distinction and all achieving a merit, merit plus or dislinction, which was a truly excellenl outcome. The 2022123 Prep 4 all achieved distinclion.. 8 superb achievemenll The children contlnU8d to benéfit from participation In 8ventS 8uch as the Carol S8rvice and Sp88ch Day, and we were delvjhted lo be able to come together once more lor Ihese events. We are now expandlng our events lor Artsmark to include Artsmark weeks, theatre trips Ilhis year lo 'The Lion lfj'ng'l and competilions such as Poetry Together and this cotning year be extending this event even further lo include our assoaated community people. Sport.. Our Fknilosophy is lo encoviage physic81 9x¢r￿Se, wilh the added stimulation ol healthy oompelilion. Our pupils take pari in alhletKs and cross-counlry as well as a wide range ol ball and racket sports, induding hockey, nelb811. foolb811 and badminlofj. Teams aro figldgd lor pupils in Pr9p 3 vpwards and our results reflecl the hard work Qnd enthusiasm of Ihe children. We also offer the pupils the option lo join in activities such 98 judo, 18ncirig, yoga, gymnastics. foolb811. kwik ￿iCk￿l and danGg through e%1[9-¢￿￿[IcuIar dub5, To encourage the Children to lry different lypes of sp)rt we have taken each year group to the Chill Factore where they hav9 had a go at gilher skiin9 or snowboaiding which they all thoroughly enjoyed, Sporting fixtures Eontknued this year and our pupils were able to enter national competlb"on£ such as the Independent Schoo13 A88ocialion (ISAI Alhleli08, and the ISA Cross Country events. VVPS pupi18 performed well in both, These are ex￿lIent results for a small prep school. as we compete against schools significantly different in size. Art". As with 811 the arts, thls dlsdpllne is held hlgh regard at WPS. As 2 school, we are extremely proud of the high 81andard ol work that is achieved by all our children under the guldance DI our specialist art teachers. We belleve in giiqng the children plenty of opportunit￿5 lo express themselve5 through a variety of creat.ve mediums, prowding them wilh the chance to try new artistic techniques on a regular basis. The children are encouraged lo be proud of their work whith 15 displayed profftlnenlly ar0￿d the SchoiA bulldlng and is often the Source ol comments and praise from visitors. The children continue lo enjoy le8rning aboul artists from all over the world, including mor6 conlefflporary and less well known artists. They have opportuni119s 10 explore and experiment wth a broad range ol materials and techniques. many ol vthich would not be seen in other primary selling5, such as felt making and lino printing. This year, the School was represented again in the annual ISA Art compg1ilion. whero wg wore delighted lo secure Iwo first places and b￿0 seeond places 81 the North Regional Competition. These entries had the ho￿Ur ol being forwarded lo the National competit￿n. We also enloied atvwork produofjd by our Reception class IntQ 8 natlonal ISA ladybird competlbon and were awarded a highly commended, again dwnonstrating the high standard of Art achieved throughout Wlmslow Prep School. Page 6 WILMSLOW PREPARA TORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT Achlevement and performance Communlty Involvement.. Imslow Preparalory S¢hoo1 pupils are actwely eneouraged to engage in charitable work and fund raislng- barely a week goes by without sotne form ol activity taking pla￿. Pupils are involved in raising money lor Francls House la1ocal children's hospice), lor Bainardo's Ithrough the box scheme), cancer tharities and the NSPCC. They 81so regulaAy lake part in Red Nose Day and Chlld18n in Neod. Activities ranue from cak& sales and raffles to non-uniform days. In 2022123 over £2,500 was raised by pupils lor good Gauses. In addit￿n, pupils take part tn m8ny local inillatives such as the Jeans for Genes, the Rota-Toy Appeal and supporting East Cheshire Hospice. The pupils also take part In aclivilies such as Carol singing 8t Christmas time in elderly residential homes, lo Lifeshare, or out in the cotnmurrily, in a normal year. Harvest gifts are collected and d15tributed to local elderly resdenls andlor homes and the pupils also lake part In the Rotary Club Rola-Toy Appeal, packing 8 shoebox wth gifts and toiletrie8 to bg sent lo larnllies locally. Similarfy, disaster boxes ar8 made up, as appropriate, by pupils. which the Roiary Club store and then use for local families, in the event ol a disaster. We also collect Barn8rdo's Boxes lor B8rnardo's and 5UPPOrt other charities for our annual programme su a5 Diabetes UK. The School made no political donations. Wlmslow Prep wpi18 and staff 2re well known wthin Ihe comrnunity and the School Is r￿Owned lor teing willing lo help local businesses and individuals where possible. We see this matter as an extremely important part of the pupils, edu¢all(￿. as they Interact with those outside the School community and gain a wider ijnderslandlng of the enwronment. We have defibiill8lois, one on an ouiside wall, for the benefil of the community, the other in our sports hall whFch Is well used by external Ioc81 groups. All staff have recelved training in the usè ol thase defibrillators, and this Iralning is upd&led as ne￿SsarY. Our pr8m15è9 8re also used by the wider comrnunily. Ouring the School holidays. 'Holiday Zone,, use our main Sohool hall and lacililies, lo run a holiday club vthlch is open to all local school-age children. Our Sports hall is a popular comtnunSly faulity well used by a number of Ioc81 dubs. It is now used throughout Ihe year by fv40 local Badminton clubs, Whlmslow Football Association. a local Dodgeball group 8nd a Karate Club. In additi￿. the local Alpine Society use our School hall on a ie9ulaF basis for their meetings. A Day Nursery (wn by an 8Xt8mal twovider through a lease agreementl oper8lÈs on out site vthich provides us with B good link to familles with younger children and, through them, with the wder comrnunlly In gener81, Environmèntal Inltlatlves.. We take the education of our young pupils about the wider worfd very $eriously and try to set a good exatnplè as an Orgar￿SaI1On to help influence the expectations and behaviour ol Dur pupils in th8ir IAler life, providing public benefit. To Ihls end we have introduced a number ol environmental Inltiatives such as recycling of paper, eardboard and eomposl. and feducing use of energy leg eledrlcityl. The Schaol Couneil meet on a weekly basis lo di8ouss new Inlllatlves both In and out ol the classroom on how we can become more aware of the envlronment and what we can do 10 8UPPOrt this. The programme is reinlorced through our PHSEE lessons as well as through School and Forrn assembl￿s. BuSldlngs'. In addition to curriculum devdoFxnenl, the main18n8nce and development of the fabric 8nd f8cilities ol our S¢hool are key to our strategy. Over recent years, we have undert8ken bwo key developments, extending d enhanung our enirance hall, and we ￿80 developed a mulli-surface A81ro pitch alongside our Sports Holl. Pupils and staff ènjoy the use ol the Astro pitch for lessons as well as for break times, and over the pa81 cou ol years we have further develop8d our outsirte area around the Sports hall lo provide a 'Foresl School,. This is partic￿larlY w811-us8d by our Earfy Years Dep8rtm8nl arid by our onsite Nursery. Page 7 WILMSLOW PREPARA TORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT Achlevement and performance During Summer 2023, we carried out maintenance and reftwblshmenl work of some of ￿r teaching r￿M$, particularfy in order to luriher enhance th8 provision ol our ICT facilities throughout the School, in line with our strategic dewelopfflonl plan and enhan￿Ment programme. We havè significantly improved our WI-FI access installed new interactwe TVS IPADS. We 8re now (urther rewewing leachlng practi￿S wth regards lo eflectwe use ol ICT. In addition. we have a programme of planned maintenance throughout School - internal and extern81 TOdgcor8lion was carried also out over the lasl summer break. As noted above, we continue to revlew our computer laGililie8 and resour¢os on an ongoing basis in order to ke8p up ta date for our pupils and staff. with thi8 being a key focus over 2022-2024 Review of bursary d15counts awards.. In 2022123 the value of m8&ns lesled bursaries totalled over £272,000 represéntlng almost 20% 01 total fee income, aThJ providing some as51stance lo over 40 pupils. We usuglly help fund the costs ol extras such 88 trips for som8 of our pupils in receipt of Bur8arie5. The Govèrnors oontinually review our Bursary award5 to ensure Ihat we try to hèlp children, ihrough the availabi5ity of means tested fiD8ncial assisiance, who would c)Ih8Nisa be able to allend Wllmslow Prep Schr)ol. Previousty 18ke-up ol Burs8ries slabilised 81 &iound the 20°k level ol total fee Income but during Covid we did provide additional Short term help to a very sm811 numb8r ol families. In the Autumn term 2023, ey represented approximately 15°k of lee incorng SUPPOrting 30 pupils lsome 220h of pupil numbers). We are keen to ensure the objective of wder access is achieved. and our aim to maintain a minimum of 12010 of total lee income on Bursaries, has already been ffl¢l gnd exceeded. The Govemor8 ￿8W our I￿rsar1e$ as important in widening aC￿$S to the first-dgss educatlon we prowde.. as charity this is important lo the Board. Over the last couple ol years, w8 have made signlficar)I steps lo Increase marketing of the avallabilily of bursaries, though specific prESS releases and our w8bslte. The success ol this can b8 sgon by the addllional pupils we now havo attending WPS through linancAal a8SlStance. We ar8 also eontinuing to investigate the possibility ol involviThJ local s18te sd)ools in sorne of our teaehing 8cliMties, especially through (Ajr rnuslq sport and18nguage teathing. Future Plans.. The Governors intend lo contlrnje their strategies of m8inlaining the School's position in an Inttèasingly competitive mathet and wilh a potential recession ahead, by investing lo provKle high quality education lor Jr pupils. Achieving a high standard ol academic resu118 is a cofjsl8nt altn whilst mainlaining the breadth and depth of the education prowded. The Headteacher and senior staft review the curriculum on 8n ongoing basis to ensure th81 tK>th academlc and extrav6r tha other information and, except to the exlent oth￿Ise explicilly stated in our report, we do not express any form of8S8uran￿ conclusion Ihsreon. In connèctlon with our audit ol the financi21 statements. our responsibility is lo read the other information and, in doir¥J so, consider whether the other information is m8lerially Inconsislenl wth the fin8nclal st8t8M￿lS or our knowledge otthined in the audit or otherwise appears lo be materially misslaled. If we identify such material inconsislen¢ies (x apparent mglerial misslaletnents, We 8r8 requlred lo determln8 W￿ther this gives rise to a material misstatement in the financial statements themselves. 11, based on the )rk we have performed, we condude that ttiere is a materi81 missl*ement of thls oth8r Inform8Uon, w8 ar8 rèquired to re￿rt that fact. We have nothing to report in this regard. Oplnions on other mattèrs prescribed by thè C¢)mpanl•s Act 2006 In our opir)ion, based on the work undertaken in the course of the audit.. thè infomi8lion 9iven in the Report of the Trustees lor the financial year lor which Ihe fi'nancial statements are prepared is oonsistenl wth the financial slalements, and the Report of the Trusl88s h88 b68n wepared in accordame with applicable legal requirements. Page 16 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERSOF WILMSLOW PREPARA TORY SCHOOL TRUST LIMITED Matter8 on whlch we are requlred to report by exceptlon In the light ol Ihg knowledge and vDderslanding ol the charitable company and its environment obtained in Ihe course ol the audit, we have not identified material misstatements In the Report of the Trustees. We have r¥)thing lo report in respect of the following matters where the Companie5 Act 2006 requlres us lo report loi you if, in our opinion., adeqL4ate accounting record5 h8ve not been kepl or relums 8dequale lor our audit have not bogn re¢￿Ved from branche8 not Vi811ed by us., or thè financial staternenls are not in agreement with the accounllng records and relums,. o rtain disdosures of tru8tees' remuneration specified by law are not made,. or we have not re￿Ved all the information 8nd explanations we require for Our audit. Re$ponslbllltles of trus189S As explained more fully in the Siatement ol Trustees, Responsibilit(es, the trustees (who are also the directors c>f the charitable company for the purpo￿8 of company lawl ale responsible for the preparation of the financAal statemenls Bnd for being satisfied that they glve a true and falr vlew, and for such Internal control as the Iiuslee8 dolermine is necessary lo enable the preparation ol financial 8tatemenls that are free from material mlsst8tement, whether du8 to fraud or eiior. In preparing the financial statements, the trustees Bre responslble for assesslng the ch8rllable comp8n¥s ability lo continue as a going concern, clisclo8ing, as applicable. matters related lo going concem and using the going concern basis of accounlng unless the Iiuslees either intend lo liquidate the charitsble company (Y lo ￿se operations. or have no realistic alternative but to do so. Page 17 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WILMSLOW PREPARATORY SCHOOL TRUST UMITED Our responslbllltles for the audlt of the financial statement$ Our L*)jects'ves are lo obtain reasonable 8$8urance about whether the flnènaal statemenls as a ¥thole are free from material misstatement, whether due to fraud or error, and lo I$su0 8 R¢port of the Independent Auditor8 that includes our opinion. Re8sanable assurance is a high level of assurance, but is not a guarAntee that an audit conducted in accordance with ISAS IUKI wll always del8¢1 a materi81 misslalement when it exists. Misstatements c8n 8ri88 from traud or grror and are con51dered rnaterial Il. individually or in the aggregate, they cO￿d reasonably bè 6x￿Cted to influence the economic decisions of users 18kell on the basis ol these financid stalemenls. Procedures to identify risk8'. erNuiring ol management concerning the ￿tIts¢$ pr(￿dureS relating lo.. identifying. evaluating arKI complying with laws and regulations and whether they were aware of any instan￿5 ol noncomplianco., deteding and responding to the risks ol fraud and whether they have knowledge of any actual. suspected or 811eged fraud.. discussing among the etVJggernenl learn regardlng how and where fraud might occur it) the financial statèments and 8ny potential indicators ol fraud. As part ol this discussion. we identified potentlal for fraud in the following areas.. timing of recognltion of Income, and posting ol unusual journals., and obtaining en understanding of the legal and regulatory Irameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the fin8ncl31 statements that had rund8m8n1818ffecl on the operations ol the entity. The key law8 and regulations we considered in this context induded UK Companies Aot, Chariti88 Act, employmènt law, health and safety. pensions legI￿allOn and lax legislation. The procedures to respond lo risks Id8ntlfiéd Induded.. reviewng the financial statement disdosures and testing to supporting documentallon to assess Cornpliance with relevant law8 8rEd règulatlons discussed above., enquiring ol management, Con￿mIng actual and potential litigation and dalm8", performing analylical procedures to identify any unusLJal or vnexpected relationshlps that may indirale risks of materi21 misstatement due to fraud.. tests.ng the timing and mat¢hing ol incorne and expense transadions either side Df the year end,. and in 8ddressing th& risk of fraud through management override ol controls, lesling the appropriateness ofjournal entries and other 8djustmentS." 88S8ssing whèther the jLKJgements made in making 8C¢OLJnting estimates are indicative ol a potents'al bias., and evaluating the rallonale of any significant Iransactlons that are unusual or outside the normal COL*rse of business. We also cotntnunicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remalned alort lo any indic2lions ol fraud or non-compliance with laws and regulations throughout the audit. A further descript￿￿ of our fe5ponsibililies for the audit of the financial slatemants Is located on the Financial Reporting Counrifs website at vMw.frc.org.uklauditorsresponsibllities. This de8cription loim8 pail ol our Report of the Independent Auditors. Page18 REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF WILMSLOW PREPARATORY SCHOOL TRUST UMITED Uso of our report Thls r8port is made sDlgly to the tharhablg company's m9mbgTS, as a body, in accOr¢lan￿ with Chapter 3 of Part 16 of thè Companles Act 2006. Our audit work has b&en und8rtak¢n so that we mlght slate to the Charllable company's Memborei th066 matters we are required to stalB lo them in on oudilor8' report ond lor no olhef purpose, To th& fu15eet 8xt&nt Pgrrnitted by law, w9 do not a￿9pt or assume r￿ponSIbIlty to anyone other than the charllable wmpar¥y and the char5tsble (xin)panls members as a body. for our audll wort, for this report, or lor the oplnlons we havè brmed. Graham Travls FCA ISenk)r Slalulory Audltor) for and on b8half of Clarke Nid(lin LLP Charter8d Accountants and Stslulory Audllors Clarke Nicklin House Brooks Drlve Cheadle Royal Business Park Chèadle Cheshire SK8 3TD 20 Ma￿h 2024 P8gg19 WILMSLOW PREPARA TORY SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 2023 Total funds 2022 Total nds Unr8slricl8d Endowment funds fund Noles INCOME AND ENDOWMENTS FROM Donations and legacies e5.353 65,353 66.267 Charltable acllvlll¢¥ Fees 8nd collectlon charges 1,154,430 1,154,420 1,OQD,951 Investrnenl incorne 264 Total 1222 363 1222,363 1 C￿7 482 EXPENDITURE ON Charltable actlvitles Teaching and welfare costs Running costs & maintenance Governanc 731,439 349,808 8,780 731,439 349,808 8,760 688,373 316,828 Total 1090 007 1090 OC17 g91,851 Ng1 gains1{108ses1 (A) investments 1,337 NET INCOME 131,019 131,019 67,C68 RECONCILIATION OF FUNDS Total funds brought lonNard 1,187,055 752 1,187,807 1,12Q,739 TOTAL FUNDS CARRIED FORWARD 1,318 074 752 1 318826 1 187.8Q7 The notes form part ol these finandal statements Page 20 WILMSLOW PREPARATORY SCHOOL TRUST LIMITED BALANCE SHEEr 31 AUGUST 2023 2023 Total funds 2022 Unreslrlcled End¢ywmenl funds fund lunds Not8S FIXED ASSETS T8nglbTe a85615 Inv83tm¢ntg 11 1,145,164 12 1,146,1e4 26415 1,fj42,928 762 1.170,827 752 1,171,579 1,170,878 CURRENT A88ETS Stad(s Debtors Investments Cash al bank 13 14 15 7,959 57.152 289.645 7,969 167,152. 289,645 6,930 141,692 148.683 461763 4ee,783 304,897 ¢REDrroRS Amounts fa1Hng d￿wIthIn one yoar 16 1267,3971 1257,3971 1216,4971 NET CURRENT ASSETS TOTALASSETS LESS CURRENT LIABILITIES 1,882,193 752 1,382,946 1,269,078 CREDITOR8 Amounts falllng due atter mor& Ihan one y6ar 17 164,110) 164.119) 171,2711 NET ASSErs 1,318 074 752 fj 318 826 1187 807 FUNDS Unre81rlcled funds End¢)wmenl lunds 1.318.074 752 1.187,055 7S2 TOTAL FUNDS 1318826 1 187 8a7 Th8 flnanela were approved by th& Board of Tru$l£&8 and authorl8ed lor Issuo on and w8r8 s￿ned Dn St8 beh@11 by.. 2.p.. }IrA Gosnay- Twstse The notes fo¥m port of t￿$0 fingnclal statements P@g8 21 WILMSLOW PREPARATORY SCHOOL TRUST UMrrED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Cash flows from operating 3Ctlvltles Cash generated from operah.ons Interest paid 187,385 119,017 775 Net cash provided by operating activities 186 443 118,242 Cash flows from Investlng actlvltles Purchase ol tangible fixed assets Pu¥chase tsf C￿r￿nt asset investments 129,3591 141082 118,3001 Nel cash used In Investing activities 170,4211 108,7441 Cash flows from flnanclng activlUas Loan repayments in year 9,707 8.099 Net cash used in financAng 8CtlvitlÈs 9.7071 Change In cash and cash equlvalenls lrt the reportlng perlod Cash and cash equlvalents at the begirTrnlng of the reportlng period 6,315 1,399 Ca8h and ca8h aqulvalents al the end of the reportlng perlod 14,007 7,692 The notes form part ol these financlal statements Page 22 WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net income for the reporting perlod las per the Statemènt of Financlal Actlvltlesl AdSustments for= Depreciation charge8 Losses on inveslm¢nls Intere51 pald Increase in 8tocks Increase in debtors Increase in creditors 131,019 67,068 27.121 1,337 942 11,0291 115,4601 43.455 30.685 8,563 775 17221 {18,2561 30,904 Net cash provlded by operatlons 187.385 119017 ANALYSIS OF CHANGES IN NET FUNDS Al 1,9.22 Cash flow At 31.8.23 Nat cash Cash al bank 7,692 14,CKJ7 7.692 14,￿7 Liquld resources Deposits included in rash Current asset investments 148,583 fj41,(￿2 289 645 148,583 141062 289,645 Debt Debis falling due within 1 year Debts falling du8 8fter 1 year 19.7071 12451 Ig,9521 22 2421 41,901 32 1941 Total 114,374 157,084 271,458 The notes lomi part of Ih8se financial stalernenls Page 23 WILMSLOW PREPARATORY SCHOOL TRUST LIMifED NOTES YO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2023 INFORMATION Wilmslow Preparatory School Trust Limi18d I'the Company l is & charitable company lirnited by guarantee, incorporated in Ihe United Kinodom. The address of ils reglstered office and principal plac6 01 business is 7 Grove Avenue, Wfilmslow. Ch8shlr8, SK9 SEG. ACCOUNTING POLICIES Basis of preparlng the financlal statements The financial stslefflEnts ol the charitab18 company, whkh is 8 public benefit entily under FRS 102, have been prepared in accordance with the Charilies SORP IFRS 1021 'Accounling and Reporbng by Charities.. Statement ol Recommendd Practice applicable to charities preparing their accounts in accordance with the FinanTral Reporting Standard applicable In the UK aThJ Republ￿ of Ireland IFRS 1021 leffeclive 1January 20191,, Financial Reporting Standard 102 'The Finanael Reporting Standard applicable in the UK and Republic of Ireland. and the Carnpani8s Act 2008. The linanrial statements have been prepared under the historical Cost convéntion, with the exception of investments wh%ch arg Includcd al market value, as modified by the revalualitsn ol¢ert8in a8s8ls. There are no material Un￿rtaInl185 about the charily's abilty to continue as a going concern. The finanaal 3t8lemènts are presented in Stertlng 1£). Income l income is recogni8ed in the Statement ol FinatKial A¢tivilies On￿ the charity h85 8ntitlement to the funds, il 18 wobable that the income wil be received and the amount can be measured reliabty, Fee incomo represents the invoiced amount ol tuition servi￿$ and m6818 provided during the year logelher ￿th miscellaneous catering receipts and wllection charges. Fees received for educalion to be provided in future years are carried fO￿ard as deferred inEome. Donation8 receivable for the general wrposes of the Charity ere cr8diied to unrestricted IL5nds. Donations for purposes restricted by the d￿tsr are taken to restri¢led funds. Amounts requlr8d to be retait)ed as capital are accounted lor as endowmgDIs. Expèndlture Liabilities are recognised as expenditu￿ as soon as there 18 8 legal or constructive obllgation commilb.ng the charity lo that expenditure, il is probable that a transfer ol economie benefits wi11 be required in settlement 8nd the amount of the obligation c8n b6 meaSU￿d reliably. Expenditure is accounted lor on an accruals basis and ha8 been classified under headings Ih8t aggregale all cost ielated to the calegory. Ithe￿ costs cannot be dlrectly altribuled to particular headings they have teen 8lloc8ted to activities on 8 basis consislent with the USE ol resourTrs. The irrecoveraUe element of VAT k% included wlth the item ol expgnse lo which Il relates. Char*lable expenditure comprises those costs incurred by the charity in the delivery ol ils activiti£s and service$ for ils beneficiaries. It includes both costs th81 Can be allocated directty to such activities alld those costs ol an in(firÉct nature necessary lo support th￿. Costs of generating funds are lundraising co81s incuried In seeking vdunlary eiATrtrlbutbns. Governance costs Indude those costs 8380txaled with meeting the ¢onstilutional and stalulory requirements of the charity and include the lees and (x)818 linked to the slralegic management ol the charily, Page 24 continued... WILMSLOW PREPARA TORY SCHOOL TRUST LIMITED NOTES TOTHE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES - ¢ontlnued Tanglble flxed assets Depreciation 18 proiqded on all tarvJible fixed assets bought by the sch(K)I, other than freehold land, 81 rates ca5culated to write off thts cost, less est￿ated residual valu6 01 each asset Over ils expected useful li18, as follows'.- Freehold Buiklings 1.5% straight line Plant, Fixluies and Fittings 20°k slr8ight Ilne Tangible fixed assets p￿sellted to Ihe school as gifts are capitalised al cost lo the donor arKJ a corresponding amount is provided of (f&preciatitsn. Items costing les8 than £500 are writt¢n off as an exp8ns6 28 acquired. stocks The value ol stock, whith is not materlal lo the financial poSit￿n of the company. is eslirnaled. Taxatlon The tharity is exempl from c(Ypor81ion lax on its charitable activities. Fund accounting Unrestricted funds are avai18ble for use at the discret￿n of the trustees in furtherance ol general obje¢iives of th6 charity. Dasignated fun¢As are unFe51rlcted funds earmarked by the trustees lor particular purposes. The airn and use of 8ach designated fund is sel oul in the notes in the fi'n8na81 slatemenls. Restricted funds are 8ubj8(* to rèstrictions on their expenditure imposed ty th8 donor or through the terms of ar app881. Further explanation ol th8 nature and purFrt)se ol o8¢h fund is induded in the notes to the financi81 slatemenls. DONATIONS AND LEGACIES 2023 2022 Donatlons and sundry re￿Ipts 65,353 66.287 INVESTMENT INCOME 2023 2022 Investment inccrfne 2.580 Pago 25 continued... WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Sohool lees add School fees rec8ived in advance less School lees carried lOry￿r￿ less Bursaries and allowan￿S 1,472,427 148,314 1108,2071 317,&971 1,355,673 78,393 190,5061 342,609 1,194537 1 ￿0.951 CHARITABLE ACTIVITIES COSTS Support costs (see note 71 Teaching and welfaro ¢O$t8 Running costs & maintenan¢8 Governance 731,439 349.808 8.760 1090.007 2023 2022 T¢a¢hlng and welfare c0818 staff costs Depreoialion other operating charges 645,163 5,401 574,534 83C 83,539 668,098 666,373 Runnlng costs and maintenancè Staff costs Depredation other operating charges 87,184 21,720 95,g67 22,385 198,476 214,108 316,828 Goveman¢e cost8 Auditors. remunerktlon 8.750 Page 26 conts"nued... WILMSLOW PREPARA TORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023 SUPPORT COSTS Governance costs Management Finance Totals Teaching and wellar¢ oosls Running costs & maintenance Goveman 731,439 347,926 731,439 349,808 1,882 1079,365 1,882 1,090,(K)7 Support costs. included in the alK)ve, are as follows.. 2023 2022 Teaching and wellare costs 8L*ivilies Running costs & malnlen3nce Governan Total Totsl activities Wages Ratès and water Lloht and heal Telephone costs Postage and stationery Sundries Provisions School books and m3terials Repalrg and fenewals Inspection costs Depr8clation ol tangible and heritage assets 2nk char9es Interest payable and similar charses Auditors, remuneration 631,295 101,C152 23,156 29,442 8,448 65,350 65,612 732,347 23.156 29,442 8,448 65,350 65,612 72,103 670,501 20,237 34.932 4,154 ,739 53,817 50,713 72,103 22,640 22.64L¥ 30.076 3,070 32,826 25,133 2.769 30.076 3.07L) 5.401 21,720 940 27,121 30.685 920 775 8,760 8,760 731.439 349,808 lo￿007 991,851 NET INCOMEIIEXPENDITUREI Nel incomell¢xpendlturel is staled gfter ch8rgingllcredilingl.. 2023 2022 Auditors, remunef811on Depreci8tion- owned assets 8,760 27,121 8,850 Psge 27 continued... WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED 31 AUGUST 2023 TRUSTEES. REA4UNERATION AND BENEFITS There were na trustees, remuneration or other benefits for the year ended 31 August 2023 nor ftsr the year ended 31 August 2022. Trusl&e$' èxpenses There wore no trustees. 8XP6nses paid for the year ended 31 August 2023 noT lor th8 year ended 31 August 2022. 10. STAFF COSTS 2023 2022 Wages and salaries 732,347 87C> 501 732,347 670,501 The average monthly number of employees during the ye8rwas as follows.. 2023 13 18 2022 Teachers and asslstanls (full tim81 Teachers and assistants (part timel Sell employed Administration- Offi Administrat￿on- Kltchen Administration- Car8tak8r 20 42 The nurnber of employees whose employee benefits lexcl¢Jding omployer pension costs) exceeded £60,000 was.. 2023 2022 £60.001- £70.000 Pag8 28 continued.. WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS. Continued FOR THE YEAR ENDED 31 AUGUST 2023 11. TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Totals COST At 1 September 2Q22 Additions 1,586.gJg 495.9g3 29,35g 2,082,992 At 31 August 2023 525,352 2.112351 DEPRECIA TION At q SepteM￿r 2022 Charge for year 453.408 21.720 486,658 5.401 940,066 27,121 At 31 August 2023 475 128 492,059 NET BOOK VALUE At 31 August 2023 .111,871 33,293 1,145,164 At 31 August 2022 1 133 $91 9,335 1142,926 12. FIXED ASSET INVESTMENTS Listed inV8Stments MARKET VALUE At 1 September 2022 Revaluation6 27,752 At 31 At*gust 2Q23 NET BOOKVALUE At 31 August 2023 26,415 Al 31 Augusl 2022 27,752 There were no Inwestment assets outslde the UK. Cost or valuabon at 31 August 2023 Is represented by.. Listed investments Valuation In 2Q23 Page 29 nlinued... WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 13. STOCKS 2023 2022 Finished gDods 7,959 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Prepayments and accrued income 148,452 129.077 12,615 157 152 141,692 CURRENT ASSET INVESTMENTS 2023 21Y22 Short lerrn d¢posits 148,583 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Bank loans and overdrafts18ee note 181 Trade creditors S￿181 security other taxes Other oredilors Accxuals and deferred income 9,952 50,687 11,720 7,460 177,578 9,707 55,261 11,18S 9,381 130985 257,397 216497 Other credltors Indude unpaid pension ¢ontributlQn8 of £7,4fJO12022'. £9,344). 17. CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN ONEYEAR 2023 2022 Bank loans (see note 181 Deposits hekl 22,242 41,877 32,194 39.077 64,119 71.271 Page 30 continued... WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THEYEAR ENDED 31 AUGUST 2023 18. LOANS An analysis al the maiurity ol loans is given b810w'. 2023 2022 Amounts falling due withln one year on demand.. Bank loans Amounts falling be￿eell and two years.. Bank108ns- 1-2 years 20,2Q4 Amounts falling due bebNeen two and fwe Ye￿s.. Bank loans- 2-5 years 12,038 22,242 19. LEASING AGREEMENTS Minimum leas8 paymonls ￿￿ler non-car￿lIable OP8T2tsng leas&8 1811 due as fo11ows'. 2023 2022 Within one year etween one and five years 2,592 2,592 3.888 4,104 6,480 20. MOVEMENT IN FUNDS Nel movement in funds Transfsrs be￿en funds Al 31.8.23 At 1.9.22 Unr88trlcted funds General fund Designated fi'xed asset fund 44.129 1 142926 158,140 27,1211 129,3591 29.359 172,910 1 145,164 1,187.055 131.019 1.318,074 Endowment funds Prize funds 752 752 TOTAL FUNDS 1 187807 131,019 1.318,826 Page31 onunued... WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS. CDntlnued FOR THE YEAR ENDED 31 AUGUST 2023 20. MOVEMENT IN FUNDS. contlnued Nel movement in funds, induded in the above are a¥ follow8.. Incoming rèsourees Resources exp8nd8d Gains and Movement losses in funds Unrestricted fEJnd8 General fund D88ignai8d fixed asset rund 1,222.363 11,Qb2,&961 27 1211 11,3371 158.140 27,1211 1222 363 1,090 007 131,019 TOTAL FUNDS 1222.363 1,090 (K)71 131,019 Comparatives for movement In funds Nel movement in funds Tr&n8fers belween fvnd8 Al 31.8.22 M 1,9.21 Unrestrlcted funds General fund Designated fixed 8888t fund De5igRaled repairs fund 161,3511 1,155,310 26.028 126,60g 130,6851 28.8561 121,12Ql fj8,301 2.828 44,129 1,142,926 1,119,987 87,068 1,187,055 Endowment funds Prize funds 752 752 TOTAL FUND8 1,120739 67,1￿8 1,187,807 Cornparal￿e nel movem8llt in funds, Inclvdèd In the abové are as lollow8'. IncomiThJ resources R8soureès expenrjed Gains and losses Movèment in funds Unrèstrleted funds General fund Designated fixed asset fund Designated repairs fund 1,C67,482 1932,3101 130,6851 18,5821 128,60g 130,6851 28 8561 67,C68 TOTAL FUNDS 67,068 Pago 32 continued,.. WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THEYEAR ENDED 31 AUGUST 2023 20. MOVEMENT IN FUNDS- contlnued A C￿rent year 12 months and prioryear 12 monlhs eombined posidon Is as fdlows.. Nel movement in funds Tiansfer5 between funds At 31.8.23 Al 1.9.21 Unrestrlcted fund8 General fund Designated fixed asset fund Dèsignated repairs fund 161,3511 1,155,310 284,749 157,8061 150.4881 47.680 172.910 1,145,164 1,119,987 198,Od7 1.318,C174 Endowment funds Prize funds 752 752 TOTAL FUNDS 1120739 198,087 1,318,826 A current year 12 months and prior year 12 months combined net movemenl in funds, Induded In the above are as follows.. In¢Dming resources Resour￿$ expended Gains and Movement lo55es In funds Unrg$trlcled fund$ General fund D¢8ign8led f1xed a888t fund Designated repairs fund 2,289,845 11,995,196) 157,8061 28,8561 19,9001 284,749 157.8061 28.856 2,289.845 2.Q81,8581 9,900 198,087 TOTAL FUNDS 2 289 845 2,081,858) 198.087 21. RELATED PARTY DISCLOSURES During the year C8lvin Marketing Limited. a firrn in which one of the Governors of th8 S(*ool. Mrs D Stelthenson, is a director, provided marketing and publiuty services lor the Company. Fees payable to Calvin Markoling Limited were £21,17812022.. £19,522). This included th8 basic monthly 8gr88ment f888 plus additlonal printing, mark6ting and ￿S[S for woth in connection wth the website and general adverts. Page 33 WILMSLOW PREPARATORY SCHOOL TRUST LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 INCOME AND ENDOWMENTS Donations and legacles Dorbations and sundry re￿Ipts 65,353 66,267 Investmènt Income Investment income 2,580 264 Charltable actlvltles FÈÈS and collection ch8rges Remissions 1,472,427 317.gg71 1.343,560 342,6091 1 154,430 I,￿0,951 Total In¢omÈng Yesouree$ 1,222,3e3 1,067,482 EXPENDITURE Supporteosts management Wage5 Rates and w2ter Light arKI heal Telephone CA)sts Postage and stslionery Sundries Provisions School books and msleriels Repair8 and renewa18 Inspection costs Plant and machin8ry 732.347 23,156 29,442 8,448 65,350 65,612 72,103 22,640 30,078 3,070 27.121 670,501 20,237 34,932 4,154 55,739 53,817 5C>,713 32,826 25,133 2,769 30,685 1.079,365 ge1,￿6 FSnance Bank ch8rges Bank loan Interest 940 942 920 775 1,882 1,695 Governance c08ts A￿lIorS, remuneraÈ'on Total reS(Mjr￿S expended 1090.007 991,851 Net Income 132,355 75.631 This page does not form part ol the slatulory financlal statements Page 34