charlty rogistration number 525929
Company régistration number 00661518 (England and Wale81
POWNALL HALL SCHOOL TRUST LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 AUGUST 2022

POWNALL HALL SCHOOL TRUST LIMITED
LEGALAND ADMINISTRATIVE INFORMATION
Governors
Mrs E M MattAulay Ichairl
Mr T F Barnes
Mr G D Dawber
Mr T J Wareham
Mrs N M Wood
MrRBWWo￿￿
Mrs S Kelly
Mr$ D Hueling
Mrs A Slmmonds
IAppc4nled 21 February 20231
(App￿nted 4 September 2023)
Headrnaster
Mr D GOU1￿UM
Se¢i•tsry
Mr D Goulbourn
8uslness Manager
Mr M Hughes
Charlty number
525929
Company numbgr
00661518
Reglstsred offlce
Pownall H811 School
CarNood Ro8d
Pownall Park
Imlmslow
Cheshire
SK9 5DW
Audltor
Josolyne LLP
Merthanl Exthange
Waters Green
Macclesfield
Cheshire
SK116JX
Bankers
LIoytJ5 Bank Group PIC
223 Finney Lane
Cheadla
Cheshire
SK8 3PY

POWNALL HALL SCHOOL TRUST LIMITED
CONTENTS
Page
Govemors. report
Independent auditor's report
Statement of financial acaivrties
statement of financial position
10
Statement of
11
Notes to the financial statements
12-29

POWNALL HALL SCHOOL TRUST LIMITED
GOVERNORS. REPORT IINCLUDING DIRECTORS. REPORT AND STRATEGIC
REPORT)
FOR THE PERIOD ENDED 27AUGUST 2022
The Governofs present their annual report and financial statements for the perfod ende(127Augusl 2022.
The financial statements have been prepared in accordance wrf(h the accounting polreies set oul in note 1 to the
nancial statements and comply with the school's Mernorandum and Articles of Association, the Companies Act
2006 and "Accounliw 2nd Reporting by Charities.. Ststemenl of Recommend8d Practice applicable to charrbes
preparing their accounts In accordance with the Financial Reporting Stsndard applicable in the UK aryl Republic
of IreLgnd IFRS 1 D21" (effective 1 January 2019).
Objectlves and actlvltles
In setting objedives for the Sch¢)ol and planning ils acb"vib"e5, the Governors hove given careful consideration lo
the Ch8rity Commission'5 general guidance on public benefit and In particular to its supplementary public
guidance on advancing education and fee charging. The Governors have for many years offered assIsta￿e with
fees and Ihe School has been particularfy successful in attracting children whose parents would not be able lo
afford a fvll fee paying place. The assistance takes in lo account the cost of extra curricular activities. The
Govemors are also conscious of the role that the School has alw8ys played, and continues to play. in the local
community and this Report sets out details of activities which benefit all sections of that community. However we
are not compla￿nt in iespecl of the public benefit requirements." on the contrary we are eonlinuously explonng
opportunities to enhance the School's aclivilies and use all its resourcès for the benefit of 811 strands of the l¢xal
community.
Our School wekomes pupils from 811 backgrounds. There is no entrance rgquiremenl as S￿h allhough in the
upper forms an initial academic assessment 1$ made. and this identifies the educational ￿qUIrementS and
progmmme for the child. We have made signifieanl investments in inftastructure to cater for the needs of children
who are, or bewme, disabled. Thè welfare and progress of the children in every respect is a priority commitment
and our procedures facilitsle effective monitoring of d8velopmenl and SUC￿$.
The s¢￿01.5 objectives are the advancement of education for 6 months to 11 year old childr8n. The Charty has
also to maintain 115 heritage endowment. in particu18r the Hall which is a grade 2" listed building and various
artefacls, books and works of art. The Govemors have also emphasised the need lo make the School's
resources end activrties available to Ihe wder ￿MMunity and to contribute lo the welfare of the community. The
Govemors also make bursaries available and are intent on athieving a wider access to the School. offering
assisted places to children whose parents are unable lo meet the full fees and making the &hool's resources
available to the local community.
Wthin these Obi8cls, the School's aim is lo provide a first class independent education, based on excellent
academic tuition and extra curricular activities involving the development of sporting, artistic and social skllls in all
its PLtpils. This is designed lo provide an environment in which all pupils ean develop and fulfil their potential, both
in gaining access to the seeond8ry sch¢)ol of their choice. and in building self confidence and a desire lo
contribute lo the wlder community.
The focus in the period ended 27 August 2022 and beyond has been on maintsining and improvong academic
pgrformance. increasing contribLrtion to the wtder communty both by activity and visibility in the community and
by making the School's reSoUr￿S and activities available to others., actively pursuing the developm￿1 and
introduction of a bursary scheme,. and investment in the Sch¢)ol's infrastructure and facilities.
Tho actiwties which have contributed lo tho imF4ementation of the School's strategy and the achiovement of its
objectives are dealt urith in the next section of this Report.
The Govemors hav8 paid duè regard lo guldance issued by the Charty Commission in decidirg sthat adivities
the school should undertake.
stratogic report
The descrlplion under the headings "Achievemanls and perfomance. and "Financial revithv, meet the company
law requirements for the Govemors lo present a strategic report.

POWNALL HALL SCHOOL TRUST LIMITED
GOVERNORS. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE PERIOD ENDED 27AUGUST 2022
Achlevements and performance
Educatson Quality and Compliance Inspeclions were undertaken by the Independent Schools Inspectorate in
March 2017. The Inspectors concluded that the quality of the pupils, academic and other achievements is
excellent and that the qualty of the pupils, personal development is excellent. Speeifie mention was made of
excellent performance In every aspect of pupils, education. The Inspectors made no recommendations
themselves but commended the objectives in the School's strategic plan. The results of the Complian
Inspection were similady posttive with the School meeting the laid down standards. A further Compliance
Inspection in March 2020 resulted in a very p0511ive assessment. The Robins room for under 2 has algj received
an OFSTED in$pedion in July 23 and has received a 'Good' rating for all aspects which was a fantast'¢ outcome
for a provision which has been in operation for IL￿t 30 mnths. Finally, in order to obtain a Material Change
Increase to the Schools Registered Capacity a further compliance inspection was ￿rrIed oul during 2023 and all
expect81ions were found lo have been mel and the Material Change application was approved.
Our thildren continued lo attain the highest quality academic standards. All the children in Form 6 achieved
passes in the 11 + entrance examinations and were offered places at the secondary Schools of their ch)1￿,
including Manchester Gramrnar Sch¢Jol, Stockport Grammar School. The King's School Macclesfield, Cheadle
Hulme Sthool, Alderley Edge Schogl for Gir15, Altrincham Grammar School, Rtrssall School, Flee￿00d, Hulme
Hall Grammar School, Manchester high School. Wthinglon High Sch¢XJl, Hazel Grove High School.
Our
children received 56 offers of places including 6 scholarships.
Although the primary focus of the School is on academic success, all our children participate in many extra
curricular activities ¥vhich we consider essential for their development and prepares them for th8 rigorous
demands of secondary school and beyond. There is eonsiéer8ble emphasis on music and ¢Jrama. Many of the
children passed music examinations and almost all are involved in choral activities. The majority of the senior
school participated in excellent productions throughout the year, oulslanding performances which r￿1Ved
numerous accolades. All children in the School sung and performeé in numerous concerts and plays. choirs
participated in many public. as well as intemal, performances during the year.
Spc*t continues to be an integral part of our ¢hildren's activf(ies and opportunities, and the all weather hard court,
which was originally financed by a sp8cific and generous donation from our Parents, Association, was extended
and improved, again financed by our Parents, Committee and is used extensively for football, hockey, tennis,
netball and other sports. This together with the Sports Hall and our extensive extern81 facilitss prgvKles for 8
vari&ty of $portin9 actiwties in which our ehlldren participate with great enthusiasm, enjoyment and success.
Tennis, football. hockey, cricket, netball, cross-county, swirnming, rugby and athletlcs are just some of the sports
in which our children are extensively involved. No less importanl are other activities such as music, art, cookn'ng
and chess which add to the broad education which is provided.
The &)vemors in implementing the bursary policy, awarded a number of 88SiSted places lo children who
otheNrise would have been unable to ￿end the School. The Finance Govemor continues lo develop the formal
policy and the Govemors are anxious lo ensure that aswsled Pla￿ afe made available lo the wder community
on a consislenl, equitable and realist￿ basis.
Corssi(lerable emphasis has been placed on upd8tlng the School's infrastructure and facilities. This year the
focus has continued to be on enhancing and modernising leaching facilities. There has been further investment
in ICT and the provisitx of interaGtiv¢ teaching and leaming equipment in 811 classroom$ and facalf(ies 18 now
complete. Progress has been made in achieving high speed broadband conneth'vity.
The Govemors, staff and parents, together ￿th their children. are partScularly committed to Ihe Sch¢)ol's
contribution to the wKler local community. The H811 being a grade 2" listed Arts and Crafts building 15 opened lo
visitors on several occasions during the year. The School's sporting and other facilities are frequently used by
local sports dubs and similar organisalions and the Govemors are Seeking lo extend this opportunity lo those
who are not fortunate enough to have their own facililie$. Our children's plays and choral activities are provtded
to many in the community. in particular pensioners. and a conslderable number of tharitable aclivilkgs ar8
organised by all members of the School community.

POWNALL HALL SCHOOL TRUST LIMITED
GOVERNORS. REPORT (CONTINUED)IINCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE PERIOD ENDED 27AUGUST 2022
The S¢hwl'$ Operations are funded in the main by fee income. However. the Govemors and other v0￿￿teerS
ané supporters of the School are alert lo polen1181 fundraising opportunitie5 although these are largely focused on
specific projects. The School's Parents. Committee is particularfy active and successful in mounting Social and
other events and surpluses are tyPi￿llY used to PLtrchase oquipmenl lor classTooms and other school facilities,
entirely al the discretil￿ of the Committee. The Govefnors would like to record their appreaation of the parents.
contribution to the School.
Flnanclal revlew
Al 29 August 2021 the finawng of the School comprise(I the interim loan of £1,050.000 from a personal lender
and loans from Governors and their families of £458,000. The repayment of these loans had been extended lo
April 2022 lo enable the Governors to conclude alternative ftjnding arrangements. The adverse financial impa
of the Covid pandem￿, vthich had continued in lo 20121 and beyond, meant that the School was unable to meet
the lending parameters and criteria indicated by our bankers as a requirement for refinancing. As a result 8n
allernalive source of finance was obtained again from a personal lender to replace the above mentioned loan of
£1,050,000. This new loan for £1,050,000 commenced on 26th August 2022 and is interest free wlh rw)
repayments required for 8 period of 3 years whilst the Governors source replacement finance from the School's
bankers. During the period ended 27th August 2023 the school has commenced repayment of the Govemors
ans and th8 balance was reduced by £50,000 to £408,000.
NUm￿r$ in the School have increased throughout the period and continue to do so lo the extent that the School
was required lo submlt a material change application lo incr&ase the Règistered Capacity of the Schcx)l from 260
10 338 rAJpils which wag subs8quenlty approved. During this period the Nursery provision was expand￿ with
the op8ning of the Robin's room to accommodate children from 6 months and upwards, but pupil numbers have
also irKreased throughoLJt the School rising from 231 on roll at the stsrt of this school year lo 272 on roll for Ihe
first day of lem in 2022123.
The Govemors report a deficit of £79,941 for the period, compared lo a deficit of £19B,729 in the previoug
peri¢)d. the improvement reflects the growth in pupil numbers during the year.
As a rewll of the deficit in this and the previou$ year the School continued to experience cash flow pres8ures.
The Govemors remain disappointed that our bankers were unable lo approvo o Coronavirus interruption loan of
£200.000 although the School did receive a BounGe Back Loan of £50,000. The G0vem￿S are grateful lo HMRC
who granted deferred payment terms for PAYE and Teachers, Pension contributions.
During the subsequent year the cash flow pressuies have signrficanlly improveé In line with rising pupil numbers.
As a result, deferred payments of Teacher$ Pensions and PAYE as well as repayment of GOver￿ts loans have
been made lolallirvJ in excess of £250,000.
Reserves pollcy
The Governors, policy towards reserves is to invest any surpluses in the School's facilities ond infra5truthire.
Although this impacts on resetves only through the progressive recognition of dep￿claI10n in the Stslemenl of
Financial Acts'vrties, the impact on the School's cash resourc8s is immediate. Consequently, the Govemors think
it appropriate that the overall financiol position, incluijing and in particular the cash posttK)n. infonns and
inluences the policy on, 8nd18vel of, reserves.
The Governors are conscious that the Unrestricted frjnds are in deficit. However, as slated above, the school is
experiencing significant increases in numbers and although the impael of Covid-19 had postponed the retum lo
profitability, the Govemois expecl that they wll be able to r8POrt trading profits in the next and subsequent yoars.
The sale of surplus land in 2017118 yielded 8 significant profit and was consislenl with the valuati)n of the
School's freehold land and bLJildings. Lmdertaken in 2012 as part of the negotiations in ConneCt￿n wf(h the
increased bank facilits'es, which indicated a value significantly in eX￿SS of the carrying value in the balan¢e
sheeL
Urnler the direct￿ of the Govemors and the Headmasler, the School has continued to invest in modemising and
enhanong Ihe leaching provision, and in the provision of new facilities which will enhance the education
experience of our children. Essential, albeit mt)desl, investment programmes were continued during this period.
The current ernphasis has been on new teaching and assessment schemes, as well as on direct contact
leaching methods and content. Some of the investment was once again funded by our Parents, Committee and
we again record our appreciation of their tireless activities, support and contribution.

POWNALL HALL SCHOOL TRUST LIMITED
GOVERNORS, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE PERIOD ENDED 27AUGUST 2022
The Board of Governors is responsible for the management of risks faced by the School. Detsiled consideration
and management of rfsks are delegated lo the executive management team who report infornially lo the
Business Management Committ88 I'BMC'I and Board. The Governors have continued to implement enhan¢ed
risk management processes during the year. Major risks ond issues afe evaluated and considered al all
management meetings and the risk idenlfficalion. assessment and iespon5e process has been formally
documented duiing the year. The Govemors and executive management team are risk conscious and are
satisfied that the major risks faced by the School have been managed and miligaled to an adequate extent. The
governors reeognise that systems can onty provide reasonable bLrt nol absolute assuran￿ that Ma1￿ risk5 have
been adequale]y managed.
The key objectives of the medium to long term Strateg￿ plan are..
To achieve optimurn ￿p*ety in each class throughout the Scho
To ensure that i@aching eapacrty and capability is commensurate with these class sizes
To maintain the current high standards of academic achievement measured in the main by the $uceess of the
School's children in securing offers from the secondary schools of their choice
To continue to maintain the School's reputation for excellence in extra curricular activity in Ihe arts, 8POrt and
community activity
To widen participation in the Sch¢x)I by offering assisted places for children, and lo make the School's resources,
facilities and activities available to the wider community
To continue the programme of improving the School's infrastructure and facilities.
In the short temi the Govemors are conscious of the Schoofs financial posibon. Initlatives to athieve efficiencies
and economies in the co81 base continue to be imr4emenled and emphasis is being placed on initiatives lo
increase pupil numbers. The Governors will implement projects and initiatives only on the basis that the School
remains within its financial facilities.
Structure. govemanc• and management
The activities of the Trust are ref8ry8d 19 in the Memorandum andArtieles olAssocSalion whi¢h K% the governing
document of the TTUSI.
The Governors, who are also the directors for the purp)se of company law. and who have served Sin￿ 30th
August 2021 wer8..
Mrs E M MacAulay (Chair)
Mr T F Barnes
Mr G D DaW￿r
Mr T J Wareham
Mrs L Wndow
Mrs N M Wood
MrRBWWood
Mrs S Kelly
Mrs H F Jeys
{Restgned 4 September 20231
(Appointed 27 September 2021 and resigned 4 September
20231
(AFpointed 21 February 2023)
(App)inted 4 September 20231
Mrs D Huetin9
Mrs A Simmonds
In aG￿rdance with the Artides ofAssocialion, Mr G D Dawber, Mr T J Wareham and Mrs L Wndow wll re￿re by
rotat*?n al the forthcoming AGM, and being eligible, wll offer themselves for rè-electlon.
The Tru81 does not have any share capital bul each Governor is guarantor to the extent of £1. No GoverrK)r has
a beneficlal interest in the Trust.
Govemors are elected by The Board of Govemors having regard lo thè skills requiremen1$ of the Board. Each
Govemor contributes a specific a￿a of expertise relevant to the management of the School.

POWNALL HALL SCHOOL TRUST LIMITED
GOVERNORS, REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT
FOR THE PERIOD ENDED 27AUGUST 2022
The G0verr￿rs, as the Charity Truste￿, are legally responsible for the overall management and control of the
School and meet al least five times a year. The work of implementing most of the policies laid down by the Board
of Governors and the day lo day management of the School is undertaken by the executive senK)r management
team under the supèrvision of the BMC, chaired by the Chair of the Board, which meets al least five times a year
before the meetings of the Board, and which nomially indudes the Deputy Chair {Finance Govemorl,
He8dmasler and Business Manager.
Statement of Governors. rgsponsibilities
The Governors, who are also the directors of Pownall Hall School Trust Limited for the purpose of company law,
are responsible for preparing the Govemors, Repgrt and the financial slalemenls in aeeordance wth applicable
law and United KIr￿d0M Accounling Standards (United Kingdom GenerallyAccepted Accounting Praclicel.
Company Law require$ the GoverTh)rs lo pr8pare financial statements for each financh11 year which give a true
and fair view of the stale of affairs of the school and of the incoming resources and application ol resourees.
including the inwne and expenditure, of the charitable company for that period.
In preparing these financial statements, the Governors are required lo..
- select suitable accounting p)licies and then appty them consistently,.
- observe the methods and principle$ in the Charilies SORP.,
- make judgements estimates that are reasonable and prudent..
slate whether applicable UK Accounting Stsndards have been followed, subject to any material departures
disdosed and explained in the financial statements," and
preparè the financial slatsmenls on the going concern basis unlèss it is inappropriate to that the
school will continue in operation.
The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy
al any time the financial position of the school and enable them to ensure that the financial slalemenls comp
th the Companies Ad 2006. They are also responsible for safeguarding the as$el$ of the sclx)ol and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularib"es.
Auditor
In accordan￿ wth the company's artides, a re501ution rxoposing that Josolyne LLP be reappolnted as auditor of
the ￿MpanY will be put al a General Meeting.
Dlsclosure of informatlon to audttor
Each of the Governors has Confirmed that there Is no information of which they are aware which is relevant to the
audit, bul of which thè audrtor is unaware. They have further confirmed that they have taken appropriate steps to
identity such relevant information and to establish that the auditor is aware of such information.
The Govemors, report, including the strategic report, wa5 approved by the Board of Governors.
Mr G D Dawber
Goveinor
Dated: 23 November 2023

POWNALL HALL SCHOOL TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF POWNALL HALL SCHOOL TRUST LIMITED
Oplnlon
Wè have audrted the financial statements of Pownall Hall School Trust Limited {the 'school? for the period ended 27
August 2022 whith comprise the Statement of Financial Adivilies. the Statement of Finanryal Position, the
Statement of Cash Flows and the notes lo the financial statements, induding a summary of significarft accounting
policies. The financi81 ieporting framework that has been applied in their prepar81ion Is applicable law and United
Kingd¢)m Aeeountsng Stsndards, including Financial Reporbng Standard 102 The Financial Reporting Standard
applic8bl& in the UK and Republic of I￿land Iuniled Kingdom Generally Accepted Accounting Practi¢el.
In our opinion, the ffinanual statements..
give a truè and fair view of the state of the charitsble company's affairs as at 27 August 2¢)22 ar￿ of f(s
incoming resources and applic*ion of resources, including ils income and expernliture. for the period then
ended.,
have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting PracliL>'
and
have i*en prepared in a¢¢ordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We Conducted our audit in a¢¢ordanee %•Mh Intem81ional *andards on Auditing IUK) IISAS IUKII and applicable
law. Qur responsibilities under those standaids are further described in the Auditors responsibilrfies for the audit
Ihtr financial statements section of our report. We are independent of the school in accordance vllh the ethical
requirements that are relevant to our audit of the financial statements in the UK, includin9 the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with th8se requirements. We believg
that the audit evidence we have obtsined is sufficient and appropriate lo provide a basi5 for our opinton.
Emphasls of matter
Due to the Slalement of Financ181 Position showing nel liabilities of £1,474,339 we draw your 8ttentr)n to the
relevant dlsdosure in the Governors report and nol8 1.2.
Our opinK)n has not been modified in respect of thi$ dlselosure.
Other ITrformation
The other infomalion comprises the Infonnation included in the annual report other than the finatKSal slal8Menls
and our auditols report thereon. The Govemors are responsbble for the other information contained within the
annual report. Our opinion on the financial slalemenls does not Cover the other infomiation and, except lo the extent
otherwise explicitly slated in our report, we do not express any form of assuranee eondusion thereon. Our
sponsibility is ID read the other information and. in doing so, consider whether the other information is material
inconsist8nl with the financial statements or our knO￿edge oblained in the course of the audit, or otherwis¢ appears
to be materially misstsleé. If we identify such maleiial inconsistencies or apparent material misstatements. we are
required lo determine whether this gives rise to a material misstatement in the financial statements themselve8. If,
based on th8 Work we have perfomied, we conclude that there is a material miss18lemenl of this other information.
we ar8 required to report that fact.
We have nothing to report in this regard.
Oplnlons on other matters pr•scrib8d by the Companles Act 21)06
In our opinion, based on the work Lrndertaken in the course of our audit..
the information given in the Govemors. report for the finanaal period for which the finanaal statements are
prepared, which includes the diredors. report and the strategic report prepared for the purposes of t￿mpaThy
law, is consistent wlh the financial slalemenls". and
the strategic report and the directors, report induded within the Govemors, report have been prepared in
a￿)rdance with applicable legal requirements.

POWNALL HALL SCHOOL TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF POWNALL HALL SCHOOL TRUST LIMITED
Matters on vthich we are requlred to report by exception
In th¢ light of the knovledge and understanding of the SL*ool arbd its environment obtained in th6 course of the
audit, we have not identified material misstatements In the strategic report or th6 directors, report induded within the
Governors. report.
We have nothing to report in respect of the following matters in relatlon to which the Companies Act 2006 requires
us lo report to you if, in our opinion..
adequate accounting records have not been kept, or ￿turnS adequate for our 8udll have not been received
from branches r￿t visited by us.. or
the finaneial statements are not in agreement with the accounting record5 and returns., or
eert8In dbsclosures of trustees. remuner8tiors specified by law are not made- or
we have not received all the information 8nd explanations we require for our audit.
Rèsponslbllrtles of Governors
As explained more fully in the statement of GoveTnors' responslbllllies, the Governors, who are also the directors of
the school for the purpose of company law, are responsible for the preparation of the financial ststements and for
being 58lisfied that they give a true and fair view, and for such intemal control as the Govemors determine is
necessary lo enable the preparab.on of financial Stalém8nls that are free from material misslalemenl, whether due
to fraud or error. In preparing the financial slalemenls, the Govemors are responsible for assessing the school's
ability to continue as a going eoncem, disclosing, as applicable, matters ielated to going concem and using the
golng concem basis of accounting unless the Govemors either intend lo liquidate the charitsble company or to
cease operations, or have no reallstic allernalive bul to do so.
Audltorf$ r•sponslbllltles for the audit of the flnancial statements
Our objectives are lo obtain rea50n8ble assurance about whether the financial statements as 8 whole are free from
material misslalemenl, whether due lo fraud or error, and to issue 8n auditor's report that indude5 our opinion.
Reasonable assurance is a h￿h level of assurance bLrt is nel 8 guarantee that an audit conducted in a¢¢ord8nce
with ISAS IUKI will always detect a material misstatement when il exists. Misslalemenls can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
Ihe ecoTh)mic decisions of user5 taken on the basis of these financi81 slatemenls.
The extent to which our procedures are capable of éelecling iThegularities. including fraud, is detailed bebw.
obtained an understsnding of the 16gal and regulatory framewoth5 that are applicable to the entity and its
industry. and detemiined that the m05t 5igntficant are Iho$e that relate lo breaches of safeguarding, health and
safety regulations, data protection and employment laws. We also considered those laws and regulations th81 have
a dired effect on the fina￿la1 staternenls such as FRS102 accounting principles and the Companies Act 2006. We
have considered the exlenl to which non-complian￿ might have a material effect on the financial stalemenl$ and
also evaluated management's incentives and opportunitie$ for fraudulent manipulation of the financial statements.

POWNALL HALL SCHOOL TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT ICONTINUED)
TO THE MEMBERS OF POWNALL HALL SCHOOL TRUST LIMITED
W8 est8bli8hed thal the principal ri8k8 relatsd lo revenu6 recognition, management bias in accounbng eslimat8s
and rnanagement override, recoveiabilily of debtors, potential understatement of creditors and the going o)ncem
status of the school. Audit procedures perfomied included..
Perfomed a reconciliation of lolal school fees to expectats'ons based on pupil numbers and cuNent fee
r?les.
Reviewed fee invoi¢es raised ef(her side of the year end lo ensure acwunted for in the correGt period.
Vouched year end a¢¢ruals and prepayment balances lo supporting invoices.
Reviewed payments and invoices post year end for omitted creditors and accruals.
Cheeked cash re￿iVed after dale lo confirm re¢overability of year end debtors and ensure sufficient
provision was includ8d.
Designed audit procedures in order to incorporate unpredictability around the nature, timing or extent of
our testing.
Identified and tested joumal entrie8 to consider the appropriateness of joumal gntri85 and other
adjustments.,
Assessed whether the judgements made in maknng accountsng estimates are Indicative of a potential tias.,
and evaluated the business rationale of significant transactions that were unusual or outside the nornial
course of business.
Challenged assumptions made by managemént in m8kSng their Signifi￿nt 8¢counling eslimales
Reviewed financial slalemenl disclosufes and tested lo supporting documentstson to assess compliance
with 8pplicable laws and regulations
Reviewed manag8menls assumptions with regard to the going concem slalus of the school. Reviewed
profit and cash flow lorecasts prepared for a period in excess of 12 months from approval of the accounts.
We communicate wth those charged with govemance regarding, among other matters, the plannèd scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identity during our audit.
A ￿rther description of responsibilities Is availabb on the Financial Reporting Council's website at.. https'.11
www.trc.org.uklauditorsresponsibililies. This description fomis part of our auditor's report.
U$• of our report
This report is mgde solely lo the charitable company's members, as a body, In accordancè with Chapter 3 of Part le
ofthe Cornpanies Act 2006. Our audit work has been undertaken so that we might slate to the charrta￿e Company's
members thos& matters we are required lo slate lo them in an audilols report and fgr no other purwse. To the
fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the ¢harilable
ompany and the charilsble company's members as a botjy, for our audit work, for this report, or forthe opinions we
have formed.
LLLF
James Bostock ACA (Senlor Ststutory Audltorl
for and on behalf of Josolyne LLP
23 Novèmber 2023
Chartered Accountsnts
Statutory Auditor
Merehanl Exchange
Waters Green
Macc18sfRld
Cheshire
SK116JX

POWNALL HALL SCHOOL TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITUREACCOUNT
FOR THE PERIOD ENDED 27AUGUST 2022
Unrestrlcted Restrlcted
funds
funds
2022
2022
Totsl
Unrnslrlcted Rgstrlct•d
funds
funds
2021
2021
Totsl
2022
2021
Notgs
ntsf
Gifts and Special
receipts
Incoming resources
from charitable
activitias
Investment Income
Other incoming
resources
558
558
2,000
2,000
2,382,289
21
2,382,289
21
2.072,881
20
2,072.881
20
34,974
34,974
Totsl Incom¢
2,382,868
2,382,868
2,109,875
2,109,B7S
RaisirKJ fvnds
8,114
8,114
8,940
8.940
Charitabb adivities
2,354,495
15,530
2,370,025
2,180.003
15,530
2,195.533
Other
12
84.870
84.670
104,131
104.131
Total expendlture
2.447.279
15,530 2.462.809
2,293.074
15,530
2.308,604
Net expgnditure for the
perlodl
Net movemènt In funds
164,4111
115.5301
179,9411
{183,199)
{15,5301 {198.7291
Fund balances al 30August
2021
{1,588,9661
194,568 11.394,398}
11,405,767)
210,098 {1,195,e691
Fund balances at 27
August 2022
{1,653.377)
179.038 {1,474,3391
11.588,9661
194,568 (1,394,398)
The statement of fina￿la1 activities Indudes all gains and1055es recognised in the period.
All income and expenditure derive from eonb"nulng aciivilies.
The statement of financial aclivities also complies wlh the requir8menls for an income and expenditure account
under the Companies Ad 2006.

POWNALL HALL SCHOOL TRUST LIMITED
STATEMENT OF FINANCIAL POSITION
ASAT27AUGUST2022
2022
2021
Notes
Flxed assèts
Propety, plant and equipment
14
1.031.160
1,069,111
Current assets
Trade and other receivables
Cash at bank and in hand
16
101,331
99,056
43,205
204.584
200,387
{1,539,292}
247,789
12,617,747)
Current liabilities
19
Nel currenl liabilities
11.338,905
{2,369,9581
Total assgts less current Ilabilities
{307,7451
{1,300,847)
Non4urrent liabilities
20
11.166.594}
(93,551}
Net Ilablllties
{1.474.3391
(1,394,398)
Income funds
Restricted funds
unrestn.cted funds
23
179.038
(1.653,3771
194,568
11,588,966)
11.474,3391
{1,394,3981
The financial slalemenls were approved by the Govemors on 23 November 2023
Mrs E M MaG4ulay {Chairl
Trustse
Mr G D Dawber
Trustsg
Company reglstration number 00661518
10-

POWNALL HALL SCHOOL TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 27AUGUST 2022
2022
2021
Notss
Cash flow& from operating actlvltles
Cash absorbed by operations
27
143,7091
(62,3081
Investlng Jctlvltles
Purchase of pioperty. plant and equipment
Investment income recelved
(29.705)
21
{13,501)
20
Net cash used in investlng activities
{29,684)
{13,4811
Flnanclng actlvltles
Proceeds from new bank loans
Repayment of bank loans
Payment of obligations under finance leases
50,000
18.3331
123.802)
113,114)
Net cash (used inllgenerated from
flnancing acllvllles
132,1351
36,886
Net d￿lease In cash and cash aquivalents
(105,5281
{38.903)
Cash and cash equivalents 8t beginning of period
204.584
243.487
Cash and cash equlvalfjnts at end of perlod
99,056
204.584

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27AUGUST 2022
Accountlng poll¢l8s
Charity Inforniation
Pownall Hall School Trust Limited is a pn.vate company limited by guarantee incorporated in Englatxl and
lgs. Tho registered office is Pownall Hall School, Carrwood Road. Pownall Park, Wlmslow, Cheshire, SK9
5DW.
1.1 Accountlng conventlon
The financial statements have been prepared in accordance with the school's Memorandum and Articles of
Asso￿allOn, the Companies Act 2006, FRS 102 °The Financial Reporting Stsndard applicable in the UK and
Republic of Ireland. I'FRS 102.1 and the Charities SORP"Accounling and Reporting by Charities.. Slatemenl
of Recommended Practice applicablg to Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic csf Ireland IFRS 1021. leffeclive 1 January 2019). The
schod is a Public Benefit Entity as defined by FRS 102.
The financ¢al ststemenls are Pfepared in sterling, which is the functional currenty of the school. Monetsry
amounts in these financial statements are rounded lo the nearest £.
The financial slalements have bèen prepared under the historical cost convention, modified lo Indude certain
financial instruments al fair value. The principal accounting policies adopted are sel out below.
1.2 Golng concem
Thè financing of the School al 31 August 2022 comprised interim fundlng of £1.05m from a personal lender
and loans of £458.000 from Governors and their families. The Sch(x)I's bankers, Lloyds, have orally indicated
their willingnes5 to consider replacing this funding based on the School's return to profitability. For the reasons
more fully explained in the Governors, Report, discussions with Lloyds have been deferred as a resul of the
many issues arising from Covtd-19.
The interim funding of £q.0Sm was agreed in August 2022 and is repayable on or before 26th August 2025.
The adverse finaneial IMp￿t of Covid-19 has been significant. The losses arising have been funded initially
by a BourKe Back Loan of £50,000, a deferral of amounts due to HMRC, repayment of which by inslalmenls
commenced in Odober 2020 and have been completed in July 23 and finally by deferral of amounts due lo
Teachers Pension Stheme for which there is also a repayment plan in place. As 8 result the SGhool has been
funding the Covid-19 losses over a relatively short period and the Governors and School Exècutive have
implemented measures lo rneel this funding requirement by income, cost and cash flow management. Based
on these measures, forecasts for the yeaf ending August 2023 show the school returning ID positive trading
cash flow and this has been evidenced by the settlement of arrears of PAYE and Teaehers Penslon totdling
£101,361 and £99,000 respectively durin9 the year ended 31st August 23 as well as a reduction In Governors
loarss of £50.000 during the &8me period.
Although the School has incurred a defiryt during 21-22 and the slalemenl of financial position show a
¢umulalNe delicil of £1.5m, this is of course with properties included at 8 depreciated cost well bel¢)w their
current values. During the year ended 31 sl August 23 the setuement of borrowngs as detailed above in
exeess of £250,000 cle8rty demonstrales that the School is having no drfficully meeting liabilities as they fall
due and is generating significant operating cash flows. Draft management accounts and forecast5 for the
ye8rs to August 2023 and August 2024 show significant surpluses that will continue ID generate sufficient
cashflows lo reduce borrow1r￿S fvrther before the persc)nal lender finan￿ of £1.0Sm is due for repayment in
August 2025. By this time the expectation is that the School will have both the AugLJSt 2023 and August 2024
accounts approved and swing significant surpluses that will support refinancing of the É1.0Sm loan facility.
The Twsièes theref￿e have a reasonablè expectation that the company has adequate resources lo continue
in operational existence for th8 fore5eeabl& future. Thus they eontinue to adopt the going concem basis of
a¢￿untIng in preparing the annual accounts.
1.3 Charitable funds
Unreslri¢18d furKls are available lor use at the discretion of the Governors in furtherance of their charltable
otyectwes.
12-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
Ac¢¢untlng policies
{Contlnued)
Restricted funds are Subjeet to specrfic conditions by dOr￿S as lo h¢)w they may be us8d. The purposes and
uses of the restri￿ed funds are set out in the notes lo the financi￿ statements.
Endowment funds are subject to specific conditions by donors that the capital musl be maintained by lh8
school.
1.4 Incomlng resourcfjs
Income is recognised when the school is legally èntitled to it after any performance condrtions have been mel,
Ihe amounts can be measured reliably, and it 15 probable that income wll be received.
Fee income 1$ reeognised in the Slat8menl of Finanual Activities on the accruals ba8is. Fees re￿iVed in
advance of education to be provided in fijture years are held until either taken to income in the lem or else
refunded.
Cash donation5 are recognised on receipt. Other donations are recognised ¢)nee the school has been notified
of the donation, unless perfortnanee eonditions require d8ferral of the amount. Income lax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the lime oflhe donation.
Legacies are recognised on r8ceipl or othe￿iSe if the school has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as 8
contingent asset.
1.5 Resources expend•d
Expenditure is recognised once there is a ￿gaI or constructive obligation to transfer economic benèfit to
third party, it 15 probable that a transfer of e¢L￿omiC benefrts will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by adivity. The costs of each activty are made up of the lolal of dir¢1 eosts and
sha￿d costs. including support costs involved in undertaking each activrty. Direct costs attributable lo a single
acliwty are allocated directly lo that actNty. Shared costs which eontn.bthe to more than one activity and
support costs which are not attributable lo a sir@le activity are apportioned between those actiVit￿S on a basis
¢onsistent wlh the use of resources. Central staff ￿St$ ?re allocated on the basis of lime sperrt, and
depreaation charges are allocated on the kx)rtion of thg asset's use.
Expenditur8 is accounted for on an accruals basis. The cost headings comprise expenditure. including staff
costs and depreaalion, directly attributable lo the acts"vrty. ￿ere costs cannot b8 directly attrlbuled they have
been allocated to activities on a fair and reasonable basis.
Support costs comprise all servi￿$ induding an appropriate proportion of general overheads spe¢ffically
identified 85 wholly or mainly incurred in SLFPPOrt of the dir8Ct charitable expenditure.
Govemance costs comprise the costs incurred in managing the sthools assets, organi5ational management,
administration of and compliance with the slalutory requirernenls of the schoL)l.
Where overheads and other costs canngt be diTeLlly attributed they have ￿en allocated on th8 basis of
management estimates of the amount attributable to such activitiès. either by referènce to staff lime or space
occupied, if material. Expenses are in¢lusive of VAT as it is irrecoverable.
13-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST2022
Accountlng pollGles
Icontlnuedl
1.6 plant and equlpmgnt
Property, ￿an1 and equipment are initially measured at cost and subsequenlty measured at cosl or valuation,
net of depreciation and any impaimienl Ioss8S.
Derxeclation is recogni$ed so as lo wite off the cost or valuation ot assets less th￿r resldual values over their
useful lives on the following bases..
Freehold land and buildlngs
Prefab buil*JirEs
Plant and machinery
Fixtures. fittings. plant and equipment
Computers and office equipment
Motor vehicles
over SO years
over 20 years
over 5 years
over 10 years
over S years
over 4 years
The gain or loss arising on the dispgsal of an asset is det8m)ined as the dtfference be￿en the sale proceeds
and the carying value of the asset, and is recognised in the statement of financial oaivilie5.
1.7 Impalrment of non-current assets
At each repprting end date, the school rewews the carrying amounts of ils tangl￿e assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any s￿h indKalion
exists, the recoverable amount of tho asset is esllmaled in order lo determine the extent of the impaimient
108s lif any).
1.8 Cash and Cash equivalents
Cash and cash equivalents irbclude cash in hand, deposits held al call with banks, other short-term liquid
investments wf(h original m2turitie5 of three months gr less, and bank overdrafts. Bank overdrafts are shown
within boNowngs in current li8bilities.
1.9 Financial instruments
The school has glected to apply the provisions of Section 11 'Basic Finanoal Instruments, and Section 12
'Olher Financial Instruments Issues, of FRS 102 to all of its finanaal instruments.
Financial instruments are recognised in the school'5 balarKe sheet when the school becomes paty to the
contractual provision5 of the instrument.
Financial assets an(1 li8bilities are offset, with the net amounts presented In the finanryal statements. when
there is a legally enforceable right lo sel off thè recogr)ised amounts and there 15 an intention to settle on 8 net
basis or to realis6 the asset and settle the liability simultsneou4y.
Basic linancial ass•ts
Basic financial assets, which include trade and other receivables and ¢8sh and bank bllances, are inilially
measured at transaction price induding transaction costs and are subsequently carried at amortised cost
using the effective interest mèthod unless the arrangement constitutes 8 financing transaction. wherg th8
transaction is measured al the present value of the future receipts discounted at a matkel rate of interest.
Financial assets classified as receivable wlhin one year are not aM0￿'sed.
14-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
A¢¢ountlng pollcles
Icontlnuedl
Basic financlolllabilitits
Basic finanaal liabilities, including trade and other payables ond bank loans are inthally iecognised at
transaction price unless the arraroemenl wnslilules a financing transaction, where the debt instrument is
measured at the present value of the f￿Ure payments discount8d at a market rate of inlere51. Finanaal
liabilities dassifEd as payable wlhin on8 year are not amortised.
Debt instrumerrts are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations lo pay for goods or services that have been a¢qulred in the ordinary course of
operations from suppliers. Amounts payab￿ are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-currenl liabilities. Tiade payables are recognised initially at
Iransaclion price and subsequently measured at amortised cost using the effective interest melhod.
Derecognition of Iln•n¢ial liabilities
Financial liabilities are derecognised when the school's contractual obligations expire or ore diseh8rged or
cancelled.
1.10 Employee benellts
The cost of any unused hdiday entitlement is recoynised in the period in whlch the employee's services are
received.
Terrninalion benefits are reccgnised immediately as an expense when the school is demonstrably committed
lo lemiinate the employment of an employee or to provide tgmiination benefits.
1.11 Retirement benefits
The School participates in a mulli employer pension scheme, the Government's Teachers Pension Defined
Bengfits Scheme, for ils teaching staff. The pension liability is the responsibility of the Teachers, Penslons. As
a result il is r￿t possible to identify the a$¥els and liabilities of the sthemè that are att11t￿table to the school.
Accordingly, the scheme is accounted for as if it were a defined contributions scheme.
The school als9 contributes lo d8ffin8d contribution schemes for non-teaching staff. Conlribulion5 Payable for
the year are charged in the Statement of Financial Aclivilies.
1.12 Leases
Leases are classified 8$ finance leases whenever the terms of the lease transfer subslanlialty 811 the risks and
rewards of 0￿ershiP to the lessees. All olher leases ore cla55ified as operating18ase$.
Assets held under financo leases are recognised as assets at the lower of the assets fair value 8t the dale of
inception and the present valuè of the minimum lease payments. The related liability is included in the
statement of financial position as a finance lease obligation. Leas8 payments are Irealed as consisting of
capital and interest elements. The interest is Charged lo nel incomellexpenditurel for the year so as to
produce a constant periodic rale of interest on the remaining balance of the liability.
1.13 Govomment grants
Govemmenl grants are recognised at the fair value of the asset recelv&Y or receivable vthen there Is
reasonable assurance th81 ts grant condrbon8 will ￿ mel and the grants will be received.
A grant that speafies ￿rf0Mian¢e condf(ions is recognised in income when the performance conditi￿S are
mel. Vlfftere a grant does ng1 specify perfom)ance conditions It is rec4)gnised in income when the proceeds
are received or receivable. A grant recerved b&fore the reeognitson criteria are satisfied is recognised as a
15-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
A¢eounflng policies
Icontlnuedl
1.14 Fees In advance
Fees received in advance are deferred until such time that they become receivable, and are then re￿)gnISed
in the Ststement of Financial Activities.
Crftlcal accounting estimates and ludgements
In the application of the school's accounting policies, the Govemors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The eslimales and associated assumptions are based on historical experience and Ot￿r
factors that are considered lo be relevant. Adual results may differ from these estimates.
The estima18s and underlylng assumptions are reviewed on an ongoing basis. Revisions lo a￿￿untIng
estsmates are recognised in the period in which the estimate is revised where the revlsion affects mly th81
Per￿1. or in the period of the rewsion and future pertods where the revision affects both current and futu
periods.
Glfts and speclal recglpts
Unre$trf¢t¢d Restrlctsd
funds
funds
Total Unrestrfcted
funds
2022
2022
2022
2021
Donations and gffts
558
558
2.000
Incoming resourc•s from charitable actlvltl•8
Gros$ fe88 Less: Total
bursarie5,
grants and
allowanc88
Totsl
2022
Gr055 1885
Less.. TOIBI
bw5aries.
grants and
allowanc•s
2021
Total
2021
2022
2022
2021
Sales within
charitable activities
Other income
2,520,684
40,171
1178.$861 2,342,118
40,171
2,257,481
16,378
1200,9781 2.056,503
16,378
2,560,855
1178,5661 2,382,289
2,273,859
1200,9781 2,072,881
16-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
Investment Income
Unr•stricted Unrestricted
funds
funds
2022
2021
Interest receivable
21
20
other incoming resources
Unrestricted
funds
2022
Total Unrestrlcted
funds
2021
2022
Government grants
34,974
The above represenls amounts r￿e1vable under the Coronavirus Job Retention Scheme.
Ralslng funds
Unrestrl¢tod Unrestrlcted
funds
funds
2022
2021
FundTaisin
Advertising
and ublici
8,114
8,940
8,114
8,940
17-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
Charitable a¢tlvltle8
Teachlng Premlses
Support
Costs of
schoollng
2022
Tot41
2022
Totsl
2021
2022
2022
Staff costs
Depreciation and impairment
Other eharilable expenditure
1,503,580
45,763
40,146
56.796
38.557
177.210
259.461 1,819,837 1.644,739
3.336
87,656
97,420
217.450
434,806
416,140
1,589,489
272,563
480.247 2,342,299 2.1 S8,299
Share of govemance costs {8ee note 91
27.726
27.726
37,234
1.589,489
272,563
507.973 2,370,025 2.195,533
Analysls by fund
Unrestricted funds
Restricted funds
1,586,073
3,416
260,449
12,114
507,973 2.354,495 2,180,003
15,530
15,530
1,589,489
272,563
507,973 2.370,025 2,195,533
For the perfod end¢d 29 August 2021
Unreslricled funds
Restricted funds
1,444,074
3.416
258.642
12.114
477.287
2.180.003
15,530
1,447,490
270,756
477.287
2,195,533
18-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE PERIOD ENDED 27 AUGUST 2022
Support costs
Support Governance
costs
costs
2022
2021 8asls of allo¢atlon
Staff costs
Depreciation
Printsng, postage and
Off￿ stationery
Telephone costs
Motor and travel
School costs
Computer costs
Legal. professonal and
corbsullancy fees
Equipment hire
Bad and doubtful debts
259,461
3,336
259.461
3,336
247.021
3,440
30,814
14,034
9.152
79,944
22,131
30,814
14,034
9,152
79,944
22.131
22,935
5,818
6,895
50,462
20,974
14,182
879
14,182
879
1,530
5,882
12,523
12,523
60,119
Subyeriplions and
donations
Sundry expenses
18,314
10,051
18,314
10,051
3,089
11.888
Audit fees
Accountsncy and payroll
School insp¢dion costs
14,400
10,471
2,855
14,400
10,471
2,855
12.600 Govemance
21.660 Goveman
2,974 Govemanee
474,821
27.726
502.547
477,287
Analysed between
Charitable 8Ctivitres
480,247
27,726
507,973
477,287
Govemance costs indudes payments to the auditors of £14,40012021- £12,600)
for audit fees. In addition ￿51$ of £10,471 were In￿rred on accountancy.
bookkeeping and payroll services12021 - £21,660).
10 Governors
None of the Govemors lor any p8rson$ connected with them) received any remuneration during the peTiod
and total reimbursed expenses amounted lo £Nil.

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE PERIOD ENDED 27 AUGUST 2022
11
Employee5
The average monthly number of employees durirKJ the period was:
2022
Number
2021
Number
Teaching staff
Support staff
52
17
16
Total
69
62
Employment Costs
2022
2021
Wages and salanes
Social security costs
Other pension costs
1,489.985
131,201
198,651
1,341,773
111,442
191,524
1.819,837
1,644.739
The number of employees whose annual remuneration was more than £60,000
os follows..
2022
Number
2021
Number
£80,001- £90,000
Of the employees whose emoluments exceed £60,000. 1 12021 1) has retirement benefits accruing under a
defined benefft pension scheme ITPSI described more frjlly in note 21.
12 Other
2022
2021
FinanGing interest and charges
84.670
104,131
84.670
104.131
13 Taxatlon
The charlty is exempt from tax on incomg and gains falling within section 50S of the T8xes Art 1988 or section
252 of the Taxalionof Chargeable Gains Act 1992 to the extent that these are applied lo its charitable objects.
-20-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27 AUGUST 2022
14 Pmperty, plant and equipmènt
Freohold knd
Flxtureg.Motor vehl¢l•s
and bulldings Ilttlngs. plant
and ¢qulpm8nt
Total
C05t
At 30 August 2021
Additions
Disposa15
1,601.891
996,166
29,705
27,000
20,000
127,0001
2,625,057
49,705
127,0001
At 27 Augusi 2022
1.601,891 1.025,871
20.000
2,647.762
Depreciation and Impairn)ent
At 30 August 2021
DepreclalSon charged in t￿ period
Eliminated in respect of disposals
712,892
30,715
816,054
56,941
27,000
1.555,946
87,656
{27,0001
127,000)
At 27 August 2022
743.807
872,995
1,616,e02
Carrylng amount
At 27 August 2022
858,284
152.876
20,000
1,031,160
At 29 August 2021
888,999
180,112
1,069,111
TPe net carrying value of tangible fixed assets indudes the following in respect of assets held Lnder finance
leases or hire purchase contracts. The depreaalion charge in respect of such assets amounted to £23,105
12021 - £31,371) for the pericKI.
2022
2021
Motor vehieles
Computer5 and office equipment
20,000
39,313
62,418
59,313
62,418
15 Flnan¢lal instruments
2022
2021
Carrylng amount of flnanclal assets
Debt instruments measured at amortised cost
41,325
26,442
Carrylng amount of fjnanclal Ilabilitios
Measured at amortised cost
2.115.279
2,015,690
-21

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST2022
16 Trade and other roceivables
2022
2021
Amounts falllng due wlthln one year:
Trade receivables
Other receIvab￿S
Prepayments and accrued income
41.325
26.322
120
16,763
60,006
101,331
43,205
17 Borrowlngs
2022
2021
Bank loans
Other loans
41.667
1.508.000
50,000
1,508,000
1.549,667
1,558.000
Pay8tAe wlhin one year
Payat4e aftér one year
468,000
1,081,667
1,516,333
41,667
The loan of £1,050,000 Ir¢m a Ihlrd party individual is secured by a legal tharg8 over the property known as
Pownall Hall School, Carrwood Road, Wilmslow, SK9 5DW.
The loan from the thlrd paty individual was replaced in Ihg year by a loan of the same amount frcth another
Ihlrd paty individual on 26th August 2022
The original loan carried an interest rate of 50A pa.
Tre new Ii)an Is Interest fre8 for a period 36 months al whid) point the schod will havè obtained replacement
funds from ils bankers.
The loans from the Govemorfs and their families cary an interest rale of 2.5% pa above base (mirimum 3%
pa}., although 3% per annum ha5 now been agreed as the maximum rate. These loans have since been
extended and repaym&nt$ have commenced. During the year ended 31 st August 2023 there has been a
£50,000 repaymènt of these loans and a monthly repayment plan is now in place whlch will be accelerated
once the TeaC￿r Pension Scheme settlement is COmF￿ete. The expectslion is that these loans will be
reduced by 8 fiJrther £155,000 during the year erKling 31st August 2024.
Additional comm￿tsry on these loan¥ is provldad in the Governors, Report and In Note 1.2.
-22-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
18 Flnanc• lease commltsnents
Future minimLMn lease payments due un¢Jer finance leases..
2022
2021
thin one year
Ithin M and five years
29,014
55,6g4
33.869
62.546
84,708
112,824)
96.415
{20.7291
Lfj$s'. fvtU￿ finance charges
71,884
75,686
The aljove iepresents finance leases to acquire equipment and motor vehicles entered into for a term of 3 or
5 years. All leases are on a ftted repayment basis and no arrangements have been entered into lor
contingent rental payments.
The finance lease credit￿$ are secured over the assets to thch they re18te.
19 Current Ilabllltles
2022
2021
Notes
Bank loans
Obligations under flnance leases
Other borrowings
Other taxation and social secunty
Deferred income
Trade payables
Other payabl8S
Accruals
17
18
10,01)O
22,552
458,000
134.379
420,633
71,562
357,643
84,523
8,3
23,802
1,508,DOO
93,945
601,663
68,165
233,133
80,706
21
1,539,292
2,617.747
Other payablé includes deposrts of £144,334 12021- £90,834) technically payable with one terms notice
hence included as due in under 1 year, However. expectation is that these wll be repaid over a numter ol
year8 as each pupil leaves the 5th¢￿1.
20 Monwcurrent Ilabllitiès
2022
2021
Notes
Bank loans
Obligatsons under finance leases
Other borrowings
Deferred income
17
18
31,667
49,332
1,050,000
35.595
41.667
51.884
21
1,168,594
93,551
-23-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
21 Deferred Incom•
2022
2021
Artsing from Advance fees and deposits
456,228
601,6e3
Deferred in¢ome is included in the financial statements as follows:
2022
2021
Current liabilities
Non-current liabilrtles
420,633
35,595
601,663
456,228
801,663
Fe08 In advance rnovement
2022
Br%JJght foThvard August 2020
utllised In year
Received in the year
527,465
1527,4851
601,663
Carried forward alAugust 2021
456,228
Parents may enter into an agreément lo pay the school fees in adv8nce. The money may be retumed subject
lo specffic eonditicffls on the receipt of one lemi's notice.
In 8ddilion the school receives advance payments from Cheshire East In respect of GhildGare funding for the
Early years pupils and from parents prfor to the start of the Mi¢haelmas term in September.
The amounts paid Ir) advance are split belween fees in connect*)n wlh the year ended 31st Aihjust 2023 and
lrfelime ffjes paid for futur8 school years Post 31stAugust 2023.
-24-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE PERIOD ENDED 27AUGUST 2022
22 R•tlr•mgnt bgnefrt schemes
The school parh'opates in the Teachers, Pen&on Scheme I'lhe TPS'I for its leaching staff. The pension
charge for the year includes contributions payable to the scheme of £188,228 {2021- £182,775) and at the
year end contribuiions of £229,28512021- £129,971} attrued in respect of contributions lo the scheme.
The TPS Is an unfunded Multi-em￿oyer defined benefits pension scheme govemed by The Teathers,
Pen&ons Regulation5 2010 las amen(ledl and The Teachers, Pension Scheme Regulations 2014 18$
amended). Members contribute on a'pay as you gg. basis with eontributions from mèmbers and the employer
being credited to the Exchequer. Retirement and other pension beneffts are paid by public funds provided by
Partiament.
The employer conlribulion rate is set by the Secretary of Slate following scheme valuations undertaken by the
Government Actuary's Department. The most Tecent actuarial valuation of the TPS wa5 prepared as at 31
March 2020 and the Valuation Report. vlhich was published in October 2023.
Followng the Mccloud judgement, the remedy proposed th81 when b8nefils bèty)me payable. eligible
embers can select lo receive them from either the reformed or legacy schemes for the pèriod 1 April 2015 10
31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them
with the greater benefits. and in preparing the 2020 valuation have valued the 'greater value, benefits for
groups of relevant memters.
The valuation confimied that the emptoyer contribution rate fgr the TPS would incr8ase from 23.6% to 28.6%
from 1 April 2024. Employers are also raquired to pay a ￿hOMe admir)istralion levy of 0.08% giving a lotsl
employer conlributlon rate of 28.68%.
The charge to profrt or loss in respect of defined contribution schemes was £10.42312021- £8.7491. and at
the year end £2,425 was accrued12021- £3.300} in respect of contributions lo thls scheme,
.25-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
Restrl¢t•d funds
The fvjnds of the charity indude restrKted funds comprising the following unexpended balances of d¢)nations
and grants held on trust for specific purposes. The expended resources relattr lo the deweciation tharges for
Ihe period and repair work undertaken in the year. At the year end, unexpended income was £179,03812021
. £194,568}
B•lance at
30Augu$t
2020
ResouTC
0X￿nd#d
Balance at
30 August
2021
R8sourc•$ Balance at
expended
27 Augu81
2022
Roof appeal
Playmatt Netbal￿ennls ¢ourt
Playground
EYFS Canopy and play area
Nursery canopy
Astro turf
Outdoor classroom and lighting
Cricket works
Radio station
Ipad5
Stage lighting, sound and recording
equipment
Outdoor play area
87.601
19,852
6,651
11,231
2,503
34,761
10,665
3,946
7.200
3.048
{2,576}
1537}
(2,217)
{2,620}
16261
(7561
(1,5171
1821
12,4001
11.0161
85,025
19,315
4,434
8,611
1,877
34,005
9,148
3,864
4,800
2,032
12.576)
1537>
12,217}
12,620}
1626}
7561
{1,5171
(821
{2.4001
11,0161
82.449
18,778
2.217
5,991
1,251
33,249
7,631
3.782
2.400
1,016
6,894
15,746
18621
13211
6,032
15.425
(862)
{321}
5,170
15,104
210,098
115.530)
194,568
{15,5301
179,038
24 Analy$l$ of net assets between funds
Unrestrictod Restrfctod
funds
funds
2022
2022
Total Llniestrlcted Restrlcted
funds
funds
2021
2021
Totsl
2022
2021
Fund balarbces at 27
August 2022 are
represented by".
Property, plant and
equipment
852,122
Current asselsl{liabilities) {1,338,9051
Long term liabilities
(1,166,594)
179,038 1,031.160
874.543
(1.336.905) {2,369,9581
11.166.594)
193,5511
194,568
1,069,111
12,369,958)
(93,5511
(1,653.3771
179,038 11.474.339) {1,5e8,96S1
194.568 {1,394,3981
Restricted Funds are funds which have b88n given for parttcular purposes and projects. The restricted fijnd
must be used for the purpose specified ie,. roof appeal, the netball court, nursery play floor, Bay Wndow
pairs, Pupil playground, quality improvement, ICT sofvare and Earfy Years Foundation Stage canopy an
play area.

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST2022
25 Operating I￿t commltments
At the reporting end date the school had OLrtslanding commitments for future minimum leas8 payments under
noTrcancellable operating lease5. which fall due as follows..
2022
2021
thin one year
Between and fve years
5,454
16,363
900
21,817
900
The operab.ng leases represent leases of Idephones, copiers and computer equipment from third parties. The
leasos arg negolialed over terms of 5 years and rentals are fixed for thls period.
Amounts recc9nised in the Ststement Of Financlal Activities for the year was £1.24212020 - £1,242).
26 Related party transactlons
Remuneratlon of key management personnel
Th& remuneration of key management personnel is as follows.
2022
2021
Aggregate compensation
142.423
154,404
Loans
During previous years, th8 school received loans from Governor Mr G D Dawberfs immediate family and
from the Chair of Govemors Mrs E M MacAulay. shown in other loans in note 17.
These loans remain outstanding as follows..
Loans from the famlly of Mr G D Dawbgr
Balance
Balance
outstsndlng
outstsndlng
30th August Advanc•s In Rgpaymènts 271h August
2021
porlod
in perlod
2022
Loan from A Dawber (wrfe ofmr Dawberl
Loan from G Dawbtrr (son ol Mr Dathrl
233,000
145,000
233.000
145,OIK>
378,000
378,0110
Ab)ve loans were originally agreed w6th Interest payable at base rale plus 2.5% (minimum 30kn pal.
As a result of a subs8quent agreement, interest on the loans is now fixed 813% pa.
The whole of the above108ns have been classified as short tfjrni r8presenting condthons existing at
the balance sheèt dale.
However subsequent 8Xtensicffi of theloon has confirmed that this balance will not be repaid unb'l altemallve
long tem finan￿ is agreed.
-27-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27AUGUST 2022
26 Related party trans•¢tions
(Contlnuedl
The tems of the loans, inclvding interest rale payable, were approved by the Govemors
18xcluding Mr Dawberl having regards to prevailing rates for loans and d&posils.
Interest of £10,546 has been paid during the year and further interest tolalling £22,680 is accrued al the year
erKS.
The interest eharge for the period in relation to the aboveloons is £11,380.
Loans from Mrs E M MacAulay (Chalr of the Board of Goyomors)
Balance
Balante
outstandlng
outstanding
30th August Advances In Repayment$ 27th August
2021
pfrrlod
In period
2022
Loan from EM MaG4ulay
80,000
80,000
80.000
80.000
Above loan was originally agreed wth interest payatAe al base rale plus 2.5% (minimum 3% pa).
As a iesull of a subsequent agreement, inleresl on the loans is now fixed at 3tyA pa.
The fvll amount of £80.000 due lo Mis E M MacAulay was outstsnding as at 27th August 2022
the balance sheet date.
However subsequent extension of the loan has confirmed th81 this balance wll not be repaid until allern8llve
long term finance is agreed.
The lems of the loans, induding interest rate payaEJe, w8r8 approved by the GoverrK)rs
lexcluding Mrs MacAulayl hoving regards lo prevailing Talès for loans and deposils.
Interest of £2,400 has bèen paid during the year and further interest lotalling £4,800 is accrued os atAugLtst
2022.
The interest charge for the period in relalKJn to the above loans is £2.400.
27 Cash generated from operatlons
2022
2021
Deficit for the period
179,9411
(198.7291
ustments for..
Investment income recognised in stslement of financial aclivilie$
Depreeiatfjon and Impai￿nent of propgty, plant snd euuipment
1211
87,6S6
{201
97.420
Movemerkts in working capitsl:
Ilnereaselldecrease in trade and other receivables
Increaselltjecrease) in trade and other payables
(Decreasellincre88e in deferred income
158,126}
152.158
(145.435}
50,188
185,3651
74.198
Cash absorbed by operatlons
(43,7091
162,3081
-28-

POWNALL HALL SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE PERIOD ENDED 27 AUGUST 2022
28 Analysls of changes In nel Idebtyfunds
AI 30 August
2021
Cash Newfftn•nro At 27 August
2022
Cash at bank and in hand
204.564
1105,528)
99,058
Loans falling due within one year
Loans falling due after more than one year
Obligations under finance leases
{1,516.3331
1,048.333
{41,6671 11,040,000)
175,6861
23.802
1468,000)
11.081.667)
(71,8841
120,0001
1,429,102)
173,393>
120.0001 11.522,4951
-29.