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EVERSFIELD PREPARATORY
SCHOOL TRUST LIMITED
REPORT OF THE TRUSTEES
AND FINANCIAL STATEIVIENTS
FOR THE YEAR ENDED
31 JULY 2024
Registered Company Number: 601727 (England and Wales)
Registered Charity Number: 528966

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Page
Report of the Trustees
I to7
Report of the Indep¢ndent Auditors
8t0 10
Statement of Financial Activities
Balance Sheet
12to 13
Cash Flow Statement
14
Notes to ihe Cash Flow Statement
15
Notes to the Financial Statements
16to24

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
The Trustees, who are also Directors of th¢ charity loi the purposes of thc Cotllpanies Act 2006, prc5enl Ihcir report
with thc financial statements of the charity for the year ended 31 July 2024. The Trustees have adoplcd the
provisions of Aecoiinting and Reporting by Charities.. Sialement of Recommcndcd Practice applicable to ehaiitics
preparing their accounts in a¢cordan¢e with the Financial Reporting Standard applicable in the UK and Republic
of Ireland {FRSI 02) (effective l January 2015}.
The School is a company limited by guarai)tee and is a registered charity. The Coinpany do¢s not have share capital.
Every metnbcr of the compaiiy undertakes to Contribute to ihe Company, in the event of it being wound up while
helshe is a Tncmber. or within one period after hclshc L¢ase5 to be a member, such amount as may bc rcquircd, not
exceeding £ I for Ilie debts and liabilities contractcd before helshe c¢ases to be d member.
The Company's principal activity continues to be the provision of a day school for 2 ¾ - 1 l-year-old boys and girls,
with an averag¢ of 31 I pupils on role during the year (2023.. 310). The School was foundcd in 1931, initially as a
boarding school for boys until it became a day school in 1982. A strategic review saw the first intake of girls in
1999, whilst th¢ senior scliool changed from 13+ to I l+ to meet wider ch2nges in the educational environment.
The School engenders a strong sense of family and meets the needs ai)d potential of eacl) individual child.
OBJECT, OBJEcfivES AND ACTIVITIES
Object and public benefit aims
The Objcct of the Company, in accorddnce with its Memorandlim of Association, is the education of children. In
the furtherance of this Object the Directors, as the charity trustees. have complied with the duty in s.4 01. the
Charities Act 2011 to have due re¥aid to the Charity Commission's published general and relevant siib-se¢tor
guidance concerning the operation of the Public Benefit requirement under that A¢t.
Strategic aim and intended effect
Thc Board's stratcgic aim to reach its annual objective for the public bcnefil as a charitable Independent School is
summarized as follows..
Promolc high moral standards throiigli clear and relevant core Christian teachings.
Offcr broad eiirriciilum with opportunities in all areas for our children.
Develop children's academic and non-academic talents by providing quality support and specific opportunities.
Prepa￿ pupils for successful I l+ entry exams.
Develop excellent organisalional routines to help transition to senior school and general workllife skills.
Ensure excellent pastoral care for all our pupils.
Develop our piipils. self-confideiice to be Ihe best that they can be.
Encouragc con]petition and risk taking in a supportive, motivational and caring environment whcre no child 18
afraid of making mistakes.
Give opportunities foi piipils to lead and to work co-operatively.
In addition the chariiy has in place systems to assist fatnilies who experience financial difficulties during their time
al school and has set up a programme of annual bursaries to support children from lower-income or otherwis¢
disadvantaged families to benefit from our fee-based schooling, whilst allowing all pupils to benefLt from the extra-
curricular programme. This is intended to draw oiit their abilities and academic potential. awaken and develop
wider interests in life for eventual partiLipalion in civil society, motivating them for a siiccessful outcome at their
chosen senior school.
Page I

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Objectives & Achievements against objectives
Ob"ectives
Continue the improvement in teaching and learning
across the school
Achievements
The Teaching, Learning and Feedback Policy was
evaluated against practi¢¢. All staff are following
guidelines. Good practices have been shared across the
school with teachers gaining a clear understanding of
success criteria.
Oracy skills have bccn introduccd into the ciirriciiliim.
teachers have been upskilled through professional
development training and oracy objectives for the
piipils have been piit in place as part of their continuous
assesstnent.
The approach to monitoring and assessing children's
independent reading ivas rcvicwed and adapted with a
focus on motivating those struggling to engage with
rcadiii
All teachers engaged with action research projects as
CPD throughoiit the year. The modulc of The
Chartered College of TeaLhing was completed and
research presented to all staff. National College
resources were also used foi CPD.
The school received the Nalitsnal Onlinc Safety
Certified Slhool Ac¢r¢ditalion,' an important mileslonc
in the school's approach lo safeguarding pupils online
and dcveloping a culturc of online safety throughout
the communil
Following fe¢dba¢k from pupils and staff, the approach
to non-gender specific sports was assessed. Options
werc ¢valuated culminating in a new approach to be
trialled in 2024-25.
An assessment of the current use of Al was made
during the year. The intention for 2024-25 is to decide
on the
rioril of Al usa e within the school.
A ¢onsultation pro¢esS took place during the year with
the outcome of exiling the TP scheme on 31 March
2025. Teachers will movc into the already estsblislicd
DC altemalive scheme (APTIS).
A working group was established diiring the year to
assess the implications of the proposed VAT and the
potential options available for the school in addressing
them. Since the financial year end, the Government has
clarified its position on VAT as part of their budget, the
Governors reached a conclusion regarding the
implications for 2024-25, with parents beiiig infornied.
Work is undenvay to ensure that the school is prepared
for the introduction of VAT in Janiiary 2025 and the
Strategy Groiip will bc rcvicwing any impact on pupil
numbers and u
atin
their strate
asa
ro
riate.
Oracy skill development
Refine the approach lo reading aeross the school
Implement teacher professional dcvelopmcnt rcscarch
modules
Acqiiire online safety accreditation
Review the approach and organisation of games
throughout the school
Explore the use of Artificial Intelligen¢¢ (Al) across
teaching and learning in the s¢hool
Govemors, review of the Teachers. Pension Scheme
Development of a strategy to secure the long-temi
future of the school given the likelihood of VAT
being introduced on school fees by the future
goverrllncnt
Page 2

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
REPORT or THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Public Benefit
The Company is a charity w,hich seeks lo benefit the publi¢ throuoh the pursuit of its stated aims. Fees are set at a
level to ensure the financial viability of the School and at a level that is consistent with the School's aim of providing
a first-cla5s eduLation for the School's pupils.
The School welconics pupils from all backgrounds. The School is non-sclcctive but ainis to ensure that pupils cali
copc with the pacc of leaming and thus benefit from tl)e education provided. An individual's economic status,
ethnicity, racc, rcligion 01 disability do not fom) part of thc School's asscssmcnt process.
The Governors are committed lo allowing those who cannot afford the current fees, lo gain access to the first-class
education provided by the School. With this in mind, the School was able to support 7 piipils through the means
tested Bursary scheme, and 7 further piipils are benefitling from 7+ s¢holarship awards. Total financial support ol.
£139,778 which included biirsaries and dis¢ounts, was given against the gross fee income. Furth¢r bursaries will
be aivarded tor the 2024125 academil year.
Social Investments
The School is part of the wider local community and the Govemors are keen that staff and pupils participate in that
community.
The pupils have participated in many fundraising events this year and have raised a considerable £11.858 over this
period which has been donated to FastAid: a local group of community first aid i'esponders. In recognition, not only
of ihis tremendous effort, bul also in raising awareness of the work of FastAid. the School received the Community
Initiative and Partnership Award from the West Midlands Ambulance Service Trusi.
The School has continued to offer it5 facilities lo the community with the swimming pool ai)d gym being used for
local club swimming, life-5aving courses to local youn¥slers and pi¢kleball.
Volunteers
The Eversfield School Association {Parenls' association - ESA) helped with the School's fundraising and cultural
activities with many hours of voluntary service during the year. They have provided a strong link with parents and
initiated fiindraising to assist the further de￿.elOp[llen1 of School faciliiies. The Governors would like lo lake this
opportiinity to say how mu¢h the ESA'S continuing and valiiable support is appreciated.
Page 3

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
ACHIEVEMENTS AND PERFORMANCE
Operational performgnce
After the school being awarded TES Independent Preparatory School of the Year in 2024, this year marked another
recognition, with the He<id selected as a finalist for the TES S¢hools Awards in th¢ category of Headteachei of the
Year Independent School. Accolades continued with the school being invited 10 feature iii the Good Schools Guide
and receiving an excellent rating by our parents for the school's Nursery and Kindergarten provision.
The School continued to prepare pupils successfully for independent and grammar senior schools, with them
receiving a total of 77 offers and 23 academic and other scholarships (2024.. 20) being awarded.
The school continued to otTer a rich variety of over 40 co-curricular activities covering art, drama and movemen¢,
sport, niiisic, STEM, Strategy and It)novation. On the sporting front. tlie school competcd in rugby, football, cricket
and hockey matches and festivals across the region with the Year 5 and 6 finishing second in the local Partnership
Netball Skills Competition.
In The Arts, music and drama conliniied to play an important role in school life with school productions of Honkl
th¢ Jcss Tree, Shine Star, Shinc and Macbcth. The pupils also joined a choir of 6,500 voices in one of th¢ largest
children's choir concerts in the world.
Throughout the year, the pupils experienced a host of workshops and trips such as investigating the Ecosystem at
Bimiingham's Botanical Gardens, leaming about siistsinabilily al 8 local recycling plant, gaining an appreciation
for the work of guide dogs, exploring the cultlV2tion and craftmanship of Chocolate and residential visits to
Nomiandy, Snowdonia and York.
We are very proud of these and all our pupil's achievements.
As part of the Estates plan, signifi¢ant improvements werc made lo the Early Years playground alongside
investment in the school's first electric minibus.
FINANCIAL REVIEW
Results and financial position
The School's net surplus for the year of £462,336 {2023..£294,573). Capital expcnditure for the year was £174,980
{2023'. £206.5351, diid Nel Assets at year-end were £5,651,356 {2023.. £5,189,020) including a Lash position of
£1,893,692 (2023.. £1,022.15]).
Investment policy and performance
The School's surplus tiinds are invcsted in bank and money-market deposits in order to minimise risk.
Reserves policy
In recent years, the Governors have aimed to incr¢as¢ unrestricted funds ea¢h year by budgeting for surpluses lo
fund investment in the School estate. Excliiding fixed assets used for the school, unrestricted funds now stand in a
STnall positive position. With the imminent Introduction of V AT. th¢ Govemors, objective is to ¢ontinue to generate
surpluses lo protect the school's future ivhile recognising ihal programmes of work may need io be delayed without
compromisiiig on the School's high standards.
Future plans
The full implication5 of the introduction of VAT on independent fees will take some time lo crystalise, however
during this time of uncertainty, the Govemors retnain committed to eontinue to strive for excellence in teaching
and learning, ensuring that the estate meets the schools objectives. Their aim is to ¢ontinu¢ to attract and educate a
similar niimber of pupils in the future and to provide a bursary scheme so that pupils from low-income families can
benefit from an education al the School.
Page 4

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
STRUCTURE, GOVERNATr4CE AND MANAGEMENT
Governing document
Thc Company's Memorandum and Articles of Association are the primary governing documents of the School.
Governing body
The Trustees set the policies to achieve the School's objectives and these are reflected in the School's prospectus.
In particular, tliey appoiiit the Headmaster whose respoiisibility it is to sce that these objectives are pursiied, and
thcy provide support <ind cncouragcmcnt for the Headmaster in this task. As well as setting budgcts. for the S¢hool,
the Trustees are responsiblc for cnburing that relevant aspects of cotnpany, employment, hcalth & safety and
education law are cornplied with. The Articles ofAssociation providc that the number of Trustces shall iiot be less
than five nor more than thirty, unless otheThvise determined by a General Meeting. The members of the Governing
Body are the Subs¢ribers to the Memoiandum of Association and such oihci persons (being members of ihe Tnist)
as are elected by the Governing Body from time to lime. During the year, the Governing Body started a search for
new Govemors.
Induction and training of neiv Trustees
All Trustees are indu¢t¢d on appoiiilnienl iiilo Il)e organisation aiid ivorkiiigs of tlie School and the Company as a
registcrcd charity. including Board policy and proccdures by an induction session organi5ed for thein by the Chair
of Govcrnors. Strategic planning and training workshops are organised and all Tru%te¢s are briefed as appropriate.
Organisational structure
The Trustees meet as a Board at least once in each tern) to deterniine the general policy of the Company, to review
its overall Tnanagetnenr and control for which they are legally responsible and lo consider specific topics such as
the School Improvement Plan, tinancial accounts, biidgets and reports. In addition there are two committees.. the
Education and Personnel cotnmittee and the Coinmercial committee which tncet once in ¢a¢h terni. There are also
three sub-con]mitlees.. Bursary, Rcmuncralion and Eslales. The Bursary sub-commillcc meets in the spring term to
consider applications lor means-tested bursaries. thc Remuiieration sub-committe¢ meets in the summer temi to sel
pay levels for Ihc company's key management pcr50nnel and the Estates committcc meets lennly to discuss plans
for maintaiiiing and enhancing the school's grounds and facilities. All the committccs and sub-committees hav¢
their own clear temis of rcference. Smaller groups of the Trustees are also established when necessary looking at
such areas as the iiitroduction of VAT on fees: Equality. Diversity and Inclusion. Teachers. Pension and the
appointment of neKN Governors. The day to day running of the School is designated to the Headmaster, supported
by members of the Leadership and Management teams.
Wider network
Thc Headmaster is an active member of the IAPS, who promote thc n]aintenance of preparatory school standards
gencrally. and also takes part in pecr groiip studies for the evaliiation of qualily, performance and improvement
methods. The School co-operates with many local charities in its ongoing endeavoiirs to widen public access to the
schooling Eversfield can provide, to optimise the educational use of the School's cultiiral and sporting facilities
and to awakcn in irs piipils an awareness of thc wider social context of thc education they rec¢ive at the School.
There are no relationships between the charity and any related parties.
Risk management
The TtU5tees coiitinue to keep thc School's activities and risk managctncnt policies iindcr rcvicw. particularly with
regard to any m&jor risks that may arise from time io time, as well as the systcms and procedures that havc becn
established to manage them. They monitor the effectiveness of the system of internal controls and othcr viable
means, including insurance cover where appropriate, by which risks identificd can best be mitigated. Thc Trustees
review progress against the strategic plan and take appropLiaE actions. The Trustees coniinue to manage the
School's finances prudently.
Page 5

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
REFERENCE AND ADMINISTRATIVE DETAILS
ReiFlStered Companv Number
601727 (Engl£ind and Wales)
R¢gistered Charity Number
528966
Registered O￿lee
647 Wanvick Road
Solihull
B91 IAT
Trustees
T J Brain
G Marsh
D E Mcmillan
P J Scott
JCBSh<lW
C E Skouby {Resigned 1510812023)
R M H Thomson
A Perry
R K Bansal {Appoint¢d 1210312024)
C E Brown {appointed (1210312024)
S G Moore (Appointed 1210312024)
Company Secretary
Jcwebb
Auditors
Thomas & Young Limited
Chartered Accountants
Carleton House
266-268 Stratford Rd
Shirley
Solihull
B90 3AD
Bankers
HSBC Bank plc
Regional Treasury Centre
Exchange Buildings
8 Stephenson Place
Bimingliam
B2 4NH
Page 6

EVERSFIELD PREPA114TORY SCHOOL TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Trublecs {who are also Directors of Eversfield Preparatory School Tnist Limited for the purpose5 Of company
law) arc rcsponsible for prcparing the Report of ihe Trustees and the Financial Statements in a¢cordaYLee with
applicablc law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice- UK GAAP).
Company law requires the Trustees to prepare financial statements for each financial y¢ar which give a truc ￿]d
fair view of the state of affairs of the charitable company and of thc ii)coming resources and application of resources,
including the income and cxpendiiure, of thc charitable cotnpany for that period. In preparing thosc financial
statetllcnts, the Trustecs are required to..
select suitable accounting policies and then apply them ¢onsistently;
observe the methods and principles in the Charity SORP;
make jiidgemenls and estimates that are reasonable and prudent,.
prepare the financial statement5 on the going concern basis unless il is inappropriate to presume that the
charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records which dis¢lose with reasonable aeeurdcy at any
time the financial position of thc charitable company and lo enable thcm lo ensure that the financial statements
comply with the Compani¢s Act 2006. They are also rc5ponsible for safcguarding the assets of thc charitabl¢
company and hcnce for taking reasonable steps for the prevention and deteclioj) of fraud and other 1￿cgUIaritie$.
In so far as the Trustees are aware..
there is no relevant audit inforniation of whi¢h the charitable company's aiiditors are unaware; and
the Tnjstees have taken all steps that they ought to have iaken lo Inake themselves aware of any relevant audit
infomalion and 10 ¢51ablish that thc auditors are aware of that information.
The Trustees are responsible for the maintenance and integrity of the ¢oryorale and financial infornialion included
on the charity s website. Legislation in the Unil¢d Kingdotn governing the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
AUDITORS
The auditors, Thomas & Young Limited, will be proposed for re-appoinlmenl ai the forthcoming annual general
meeting.
Approved by order of the board of Trustees on . &7 fv! i•*nd signed on ils behalf by..
T J Brain - Trust
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EVERSFIELD PREPAIL4TORY SCHOOL TRUST LIMITED
Opinion
Wc have auditcd Ihc financial statements of Eversfield Preparatory School Trust Limited (the 'charitable company,)
for the year cnded 31 July 2024 which compi'ise the Siatcment of Financial Activities, the B1( lancc Sheet and notes
to the financial statements, including significant accoiinting policies. The financial reporting framework that has
been applied in tlieir preparation is applicable law and United Kingdom Accounting Standards. incliiding Financial
Reporting Standard 102 The Financial Reporting Si8ndard applicable in the UK and Rcpiiblic of Ireland (United
Kingdoin Geiierally Accepted Accounting Practice).
In our opinion thc financial statcments..
give a tLU¢ and fair view of the state of the charitable company's affairs as at 31 July 2024 and ot. its incoming
rcsource8 and application of resources, including its income and expcndittire, for thc ycar then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and appli¢able
law. Our responsibilities under those standards are further described in tl)e Auditors responsibilities for the audit of
the fiiiancial statetneiits sectioi) of our repon. We are independent of the charitable company in accordance with
the ethical requircmcnts that <ire relevant to our audit of tlic financial statenicnts in the UK, including the FRC'S
Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these reqiiirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going coneern
In auditing the financial statements, Ive have concluded that the tnistees. use of the going concern basis of
accounting in the preparation of the finanuial slaletnents is appropriate.
Based on the work we have perfom)ed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast si¥nificatLt doubt on the charitable company's ability to
coiitiiiue as a goiiig concern for a period of at least livelve [nontI￿ frotn when the financial statements are
authoiised for i5bUC.
Our responsibilities and thc responsibilities of the trustees with respecl to going concern are described in the
relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included
in the annual report, other than the financial statemen15 and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the othcr infom]ation and, except to the extent otherwise
explicitly stated in our report, we do not express any forni of assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other inforjnalion and, in
doing so. Consider whether the other inforn]ation is materially inconsistent with the financial statements or our
knowledge obtained in the audit or othenvise appears to be materially misstated. If ive idcnlify such material
inconsistencies or apparent material misstatements. we are required lo delemine whether there is a material
misstatement in the financial statements or a material missialement of the other information. If, based on the work
we have pcrfonlled. we conclude that there is a material misslalemcnt of this other information, we are required to
report that fact. We hap'e nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the aiidit..
the infom)alion given in the Repott of the Trustees, which inclLides the directors, report prepared for the purposes
of company law. for ihe financial year for which the financial statements are prepared is consistent with the
financial sl8lemenls', and
the Report of the Trustees, has been pr¢pared in accordance with applicable legal requiremenls.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EVERSFIELD PREPAIL4TORY SCHOOL TRUST LILNIITID
Matters on ivhich we are required to report by exception
In the light of thc knowledge and iinderstanding of the charitable con]pany and its environment obtaincd in the
eoursc of thc aLidil, wc havc not identificd material misstatetnents in the Rcport of Ihc Trustees.
We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report
to you if, in our opinion..
adequate accounting records have not been kept or returns adequate for our audit havc not been received by us.
or
the financial slalcmcnls arc not in agreement with the accounting records and retums,. or
certain disclosures of trustees. remuncration spccified by law are not made. or
we have not receivcd all the inforniation and explanations we requir¢ for our aiidit. or
the tri￿teeS were not entitled to take advantage of the small companies exemption from thc requirement to
prepare a Strategic Report or in preparing tlie Report of the Trustees.
Responsibilitie5 of trustees
As explained more fully in the Statement of Trustees Responsibilities, set out on page 7, the trusiees (who are also
Ihe directors of the charitable company for the PUTposes of company law} are responsible for the prcparation of the
financial statements and for being satisfied that they give a trne and fair view, and for Such internal control as the
Irustces determine is necessary to enable the preparation of financial statements that are free from material
tnisstalement, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to
continue as a going concem, disclosing, as applicable, matters related lo going concern and using the going Loncern
basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or
lo have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objeelives are to obtain reasonable assurance about whether the financial stalemeilts as a whole are free from
material misstatement, th'hether du¢ lo fraud or error, and to issiie a Rcport of the Independent Auditors that includes
our opinion. Rcasonable assiirance is a high level of assurance, but is not a guarantee that an audit conducted in
accordancc with ISAS (UK) will always detect 2 matcrial misstatement whcn it exists. Misstatements can arise from
fraud or error and are considered malerial if, individually or in the aggregate. they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial stalemenls.
Irregiilarities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our respoiisibilities. outlined above, to dclect material miqstatements in respect of irregularilies.
including fraud. The extent lo which our procedures are capable of detecting irregularitics, including fraud is
d¢tailed below..
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. including
fraud and non<ompliance with laws and regulations, was as follows..
the engagement partner ensured that the ¢ngagem¢nt team collectively had the appropriate compelen¢¢,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable lo the charitable company through discussions with directors
and other management, and from our knowledge aiid experience of the sector;
we focused on specific laws aiid regulati0115 Ivhich we considered may have a direct material effect on the finaneial
slalements or the operations of thc charitable company-
we assessed the extent of compliance with thc laws and rcgulations identified above through making enquiries of
management and inspecting correspondence;
We assessed the susceplibilily olthe charitable company's finan¢ial statements to material misstatement, including
obtaining an understanding of hoiv fraud might occur, by:
Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
making enquiries of management as to where they Considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraiid- and
considering the internal conti'ols in place to mitigate risks of fraiid and non-compliance with laws and regulations.
To address the risk of fraud through m<inagement bias and ovettide of Controls, we..
performed analytical procedures to identify any unusual or unexpected relationships.
tested jounial entries to identify unusual traiis8Ctions'
assessed whether judgements and assumptions made in deterniining accounting estimates were indicative of
potential bias,. and
investigated the rationale behind significant or iiniisual transactions.
In response to the risk of irregiilarities and non-compliance with laws and regulations, we designed procedures
which included, but were not liinited to..
agreeing financial statement disclosures lo iinderlying supporting documentation; and
enquiring of management as to a¢tual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations
are from financial transactions, the less likely it is that uje would become aware of noi)-compliai)ce. Auditing
standards also limit the aiidit procedures required lo identify non-compliance with laws and regiilations to enquiry
of the directors and other management and the inspe¢tion of regiilatory and legal correspondence, if any.
Material misstatements that arise due to fraud Can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located oll the Financial
Reporting Coiiiicil's website at www.frc.or
.uklaudilorsres
onsibilities. This description forms part of our Report
of the Independent Auditors.
Use of our report
This report is made solely to the ¢haritable company's members, as a body, in ac¢ordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
¢ompany's members those matters we are required to state to them in an auditors, report and for no other purpose.
To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyon¢ other than the charitable
company aiid the charitable company's members as a body, for our audit work, for this report, or for the opinions
we havc fom]cd.
Mark McLean FCA
Senior Statutory Audiior
For and on behalf of
Thomas & Young LiFnit¢d
Statutory Auditor
Carleton House
266-268 Straiford Rd
Shirley
B90 3AD
Dat¢.'
Page 10

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
STATETrIELYT OF FINA,NCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JULY 2024
Unrestricted Restricted
Funds
Funds
2024
Total Funds
2023
Total Funds
Notes
INCOME AND ENDOWMENTS FROM
Charitable activities:
Educational
4,154,661
74,000
4,228,661
3,791,331
Donations and l¢gaci¢s
14,900
29,402
44,302
20,861
Investment incom¢
54,327
54,327
16,596
Total
4,223,888
103,402
4J27,290
3,828,788
EXPENDITURE ON
Charitable aetivities:
Educational
Domesti¢
Support Costs
2,151J76
250,458
1,388,180
64,698
2,216,074
250,458
1,398,422
1,962,914
265,820
1,297,769
10,242
Other
7,712
Total
3,790,014
74,940
3,864,954
3,534,215
NET INCOMEI(EXPENDITURE)
433,874
28,462
462,336
294,573
RECONCILIATION OF FUNDS
Total funds brought forward
4,918,880
270,140
5,189,020
4,894,447
TOTAL FUNDS CARIUED FORWARD
5 352,754
298,602
5 651356
5 189020
CONTINUING OPE114TIONS
All income and expenditure ha9 arisen from continuing activities.
Thc notes form part of these financial slat¢tnent5
Page 11

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
BALANCE SHEET AT 31 JULY 2024
Unrestricted Restricted
Funds
Funds
2024
Totail Funds
2023
Total Funds
Notes
FIXED ASSETS
Tangible assets
4 610017
184 391
4 794 408
4.808.850
CURRENT ASSETS
Debtors
Cash al bank
10
114,538
1,779,481
114,538
1,893,692
81,809
1,022,151
114,211
1,894,019
114,211
2,008,230
1,103,960
CREDITORS
Amounts falling due within one year
(8J7,708)
(817,708)
(723,790)
NET CURRENT (LIABILITIES)/ASSETS
1,076,311
1,190,522
380,170
TOTAL ASSETS LESS
CURRENT LIABILITIES
5,686,328
298,602
5,984,930
5,189,020
CREDITORS
Amounts falling due after more than one
year
12
(333,574)
{333,574}
NET ASSETS
5,352,754
298,602
5,651,356
5,189,020
FUNDS
Unrestricted ￿ndS..
General ￿nd
15
5,352,754
5,352,754
4,918,880
4,918,880
Restricted funds=
Bursary fund
Sports Hall Equipment fund
Swimming pool fund
Play Area fund
iPad fund
83,936
71,934
1,448
3,472
1,411
5,525
2,271
1,373
3,684
F li
Picnic Benches fund
Playground Resources fut]d
Piano fund
Cricket Pavilion
The Leo Grove ￿nd
Espace fund
Raindrop fund
3,580
7,115
4,071
4,616
15,000
86,422
86,534
298,602
4,475
5,124
88,464
88,287
270,140
TOTAL FUNDS
5,651,356
5,189,020
The notes fomi part of these fitLancial statements
Page 12

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
BALALNCE SHEET AT 31 JULY 2024
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating
to small companies for Ihe year ended 31 July 2024, but as this company is a ¢harily, it is subject to audit under the
Charities Act 2011.
The members have not deposit¢d notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of
these financial statements.
The Trustees acki)owledge their responqibilitie% for
(a) ensuring that the charitabl¢ ¢ompany keeps a¢counling r¢¢ords that comply with Sections 386 and 387 of the
Companies Act 2006. and
{bl preparing financial stateiiients which give a true and fair view of the state of affairs of the charitable company
as al ihe end of each financial year and of ils surplus or deficit for ea¢h financial year in accordance with the
requirements of the Companies Act 2006 rclaling to financial statements, so far as applicable to the charitable
company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating lo small charitable companies.
Thc financial statements were approved by the Board of Trustees on
on its bchalf by..
Z.7. fvj Th3*and w¢re signed
T J Brain - Trustee
The notes forn) part of these financial slatemenls
Page 13

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024
2024
2023
Notes
Cash flows from operating activities:
Cash generated from operations
Int¢r¢st paid
1,004,057
560,271
(9,694)
Net cash provided by operating actÉvitie$
1,004,057
550,577
Cash floiv5 from investing activities:
Purchasc of tangiblc fixcd assets
Interest received
(212,864)
50,846
(194,254)
16,015
Net cash used in investing activitie5
162 018
178,239
Cash floivs from fjnancing activities:
Loan Settled in year
Loan repayTMents in year
Donations received rc-classcd
(355,932)
(49,735)
10,574
29,502
Net cash used in finxncing actii'ities
29,502
(395,093)
Change ID ¢a5h and cash equivalents in the year
871,541
{22,755)
Cash and cash equivalents at the beginning of the year
1,022,151
1,044,906
Cash gnd eash equivalents at the end of the year
1893.692
1.022.151
The notes forni part of these financial statements
Page 14

EVERSFIELD PREPA114TORY SCHOOL TRUST LIMITED
NOTES TO THK CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024
RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROLV
OPERATING ACTIVITIES
2024
2023
Net incotne for the year
(as per the statement of financial activities)
Adjustment5 for:
Depreciation char¥es
Interest rcccivablc
Interest payablc
Donations received re-classed
Increase in debtors
In¢r¢ase in creditors
462,336
294,573
187,422
(54,32D
178,606
(16,596)
7,712
(10,574)
7,122
99,428
(29,S02}
(29,248)
467J76
Net cash provided by operating oc¢ivities
1,004,057
560,271
Page 15

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
f*OTES TO THE FIYI ANCIAL STATEMEP*TS
FOR THE YEAR ENDED 31 JULY 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entLty under FRSI 02, have been
prepared in accordance with the Charities SORP 'Accounting and Reporting by Charities.. Statement of
Recommended Practice appli¢2ble to charities preparing their accoiints in accordance with the fiiiancial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). and
the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statemcnt of Financial Activities once the charity has cntitlcment to thc
lunds, il is probable that the income will bc received and the amount can be measured reliably. For school
fees, entitlement begins on the firsi day of terni. and any income received for future accounting periods is
deferred into the relevant period.
Expenditure
All expenditure and liabilities are iecogniscd a5 sooil as there is a legal or constructive obligation cotnmitting
the charity to that expenditure, il is probable that a transfer of economic benefits will be reqiiired in settlemei)t
and the amount of th¢ obligation can b¢ Incasured reliably. Expenditure is accounted for on an accruals basis
and has been classified under headin¥s that dggregate all cost related to the category. Where costs cannot be
directly attribiited to parti¢ii181 headings they havc bccn allocatcd to aclivitics on a basis con5islcnt with the
use of resources.
Tangible fixed assets
With the exc¢plion of freehold land, depreciaiion is provided at the following annual rates in order to write
off ea¢h asset over its eslimaled useful life=
Freehold Property
2 /0 on c05t
Furniiure and equipment
l OQ/o on c05t and 200/0 on cost
Motor Vehicles
20 /0 on cost
Taxation
The Charity is exempl from corporation tax otL its charitable activities.
Fund accounting
UnrestriLled funds can be used in accordance with the charitable obje¢tives at the discretion of the Trustees.
Designated funds are amounts ivhich have been set aside at the discretion of the Trustees for a sp¢cifie, bul
not Icgally binding purpose.
Restrictcd fund5 can only be used for particular restricted purposes within the objects of the charity.
Rcstrictions arisc when specified by the donor or when fLinds are raised for particiilar restri¢ted purposes.
Further explanation of the nature and purpose of each fund is included in the notes lo the financial statements.
Pension c05t5
The School participates in the Teachers, Pension Scheme {England and WalLsl (the TPSI for its teaching
staff and also offers the Aviva Pension Trust for Independent Schools defined contribution scheme as an
aliemative option.
The TPS is an unfiinded multi-cmployer defined beiiefits pension scheme governed by the Teachers. Pension
Regulations 2010 (as amciidcdl and by the Teachers. Pension Regulations 2014 {as amended). Members
contribute on a "pay as you go" basis with contributions from members and the employer being credited lo
thc Exchcqucr. Retirement and other pension benefits are paid by public funds provided by Parliament.
Share capital
The company is limited by guarantee and does not have share capital. The members of the company are the
trustees. The liabiliry of the members is limited and shall not cxceed £ l.
Page 16

EVERSFIELD PREPAIL4TORY SCHOOL TRUST LIMITED
NOTES TO THE FIINANCIAL STATEMEIryTS- CONTIINUED
FOR THE YEAR END 31 JULY 2024
ACCOUNTING POLICIES- continued
Operating leases
Rentals payable under operating leases are charged to the statement of financial activities on a straight-line
basis over the period of the lease.
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activi
Educational
Educational
Educational
Educational
Fec income
Minor fees and extras
Holiday activity
Miscellaneous incotne
3,851,821
241J17
25,559
109,964
4,228,661
3.472,155
209,849
24,730
84,597
3,791,331
DONATIONS AND LEGACIES
2024
2023
Donations
44,302
20,861
INVESTMENT tNCOME
2024
2023
Deposit account interest
16,596
NET INCOME/{EXPENDITURE)
Net incomc/(expenditure) is stated after charging..
2024
2023
Auditors, remuneration for statutory accounts
Auditors. remuneration for other servi¢¢s
Depreciation- owned assets
5,940
780
188,491
5,940
780
178,461
TRUSTEES, REMUNERATION AND BENEFITS
There were no Trustees, remuncratioi) 01 other bcncfits for thc year endcd 31 July 2024, nor for rhe ycar
cnded 31 July 2023.
Tru51ce5' expcnsc5 paid for tl)c year atnountcd to £nil (2023.. £nil).
Subscriptions to sehool governors association amounting to £355 (2023.. £350} and governor training costs
of £nil (2023.. £nill were paid in the year.
Page 17

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR END 31 JULY 2024
STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Other pension Costs
2,071,736
197.7110
358,287
2,627,803
1,873.616
175,418
300,632
2,349,666
The average monthly niimbcr of cmployees during the year was as
follows..
2024
52
2023
52
Teaching
Domestic
Administration
Maintenance
li
73
73
The number of employees paid emolumcnls grcalcr than £60.000 was 4 {2023.' 2}.
The numbcr of cmployees paid emolumcnls within the range of £60,000 to £69,999 was 3 (2023 .' 1)
The number of employees paid emoluments within Ihc rangc of £IOO.000 10 £109,999 was l (2023 . 1)
Trustee and key management personnel reinuneralion benefits total £139,452 (2023.. £129,576).
Pension Costs
The employer contribution rale for the Teachers, Pension is set by the Secretary ofstaie following seheme
valuations iindertaken by the Governmcnt Actuary's Dcpartmenl. Thc most recent actuarial valualioll of
the TPS was prepared as al 31 March 2020 aiid the Valuatioii Rcport. which was publibhcd in October
2023. Th¢ valuation confinned that Ihc employcr contribution ratc for Ihc TPS would inLrcase from 23.60/0
to 28.60/0 from l April 2024. Employers are also required to pay a scheme administration levy of 0.08 /0
giving a total employer contribution rate of 28.680/0.
The pension charge for the year includcs contributions payable to the TPS of £312.588 {2023.. £264,663)
and at the year-end £38,85212023'. £31,864) wa8 accrued in respect of contributions to ihis scheme.
Membership to the AVIVA Pension Trust for Independent Schools (APTIS) is offered as an alternative to
the Tcachcrs, Pcnsion Schcmc. The pension charge for the year includcs contributions payablc to the
schcmc of £5.801 {2023.. £3,031) with the minimum employer contribution rdte being 6 %. A premium is
also paid for critical illness and death in service.
Membership of the Independent Association of Prep Schools (IAPS) defined contribution pension scheme
is offered to other non-teaching staff and is also used in respect of the company's auto-enrolment
obligations. The pension charge for the year iThcludes contributions payable io the scheme of £39.997
{2023'. £32,937) with the employer contribution rate being 60/0. Al the balance sheei date conlribulions
rclatiiig to this schcine amouiiliiig to £5.705 {2023.. £4,910} were outstaiiding. A pretnium is also paid for
a death in service benefit scheme.
Page 18

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
OTES TO THE FINANCIAL STATEIMENTS- COINTINUED
FOR THE YEAR END 31 JULY 2024
COMPARATIVES FOR THE STATEMENT OF FINAIYCIAL ACTIVITIES
Unrestricted
Funds
Restricted
Funds
2023
Total Funds
ITrICOME AND ENDOITrNENTS FROM
Charitable activitie5:
Ediicational
3,743,331
48,000
3,791,331
Donations and legacies
9,550
11,311
20,861
Investment income
16,596
16,596
Total
3,769,477
59,311
3,828,788
EXPENDITURE ON
Charitable activities:
Educational
Domestic
Support Costs
1,912,701
265,820
1,289,446
50,213
1,962,914
26S,820
1297,769
8,323
Other
7,712
7,712
Total
3 475,679
S8,536
3,534,215
NET INCOMEI(EXPENDITURE)
293,798
775
294,573
RECONI CILIATION OF FUP4DS
Total funds brought forward
4,625,082
269,365
4,894,447
TOTAL FUNDS CARRIED FORW ARD
4 918 880
270,140
5 189,020
Page 19

EVERSFIELD PREPAIL4TORY SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL SI"ATEMEf4TS- CONTIIYUED
FOR THE YEAR END 31 JULY 2024
TANGIBLE FIXED ASSETS
Freehold
laJ)d and
buildings
Furniture
And
equipment
Motor
Vehicles
Totals
COST
At l August 2023
Additions
Disposals
At 31 Jiily 2024
6,163,647
19,941
889,431
155,039
(20,8901
1,023,580
54,164
7,107,242
174,980
20,890
7,261,332
6,183,S88
54,164
DEPRECIATION
At l August 2023
Charge for the year
Eliminated on disposal
At 31 July 2024
1,703,829
111,265
541,839
75,786
(19,959)
597 666
52,724
1,440
2,298,392
188,491
(19,959)
2 466,924
1815 094
NET BOOK VALUE
At 31 July 2024
4,368,494
425,914
4,794,408
Al 31 July 2023
4,459,818
347,592
1,440
4,808,850
Incliided in cost or valuation of land and buildings is freehold land of £192,167 {2023..£192,167) which is
not depreciated.
10. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Other debtors
Prepayments and ac¢ni¢d income
6.730
25,621
82,186
114,537
9,737
8,068
64.004
81,809
11. CREDITORS: AMOUNE TS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Social security and other taxes
Other Creditors
Accruals and deferred income
97,549
46,547
367,180
306,432
817,708
102,169
44,497
467,591
109,533
723,790
12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Defcrred income
333,574
Page 20

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
P*'OTES TO THE FINANCIAL STATEME,NTS- CO,N'TIYI UED
FOR THE YEAR END 31 JULY 2024
13. LEASING AGREEMELYTS
Minimum lease paymenis under non-cancellable operating leases fall due as follows..
2024
2023
Within one year
Bctrvcen one and five ycars
AfteT fivc years
22,162
72,739
480
95,381
24,829
25,233
50,062
Page21

EVERSFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR END 31 JULY 2024
15. MOVEMEwf IN FUNDS
Movement
in funds
At 01108123
At 31107124
Unrestricted funds:
General fiind
4,918,880
433,874
5,352,754
4,918,880
433,874
5,352,754
Restricted funds:
Bursary fund
Sports Hall Equipment fund
Swimming pool fund
Play Area fund
iPad fund
Picnic Benches fund
Playground Resources fund
Piano fund
Cricket Pavilion
The Leo Grove fund
Espace fund
Raindrop fund
71,934
1,448
3,472
1,411
5,525
4.475
5,124
12.002
(1,448)
(1,201)
(38)
(1,841)
{8951
1,991
4,071
4.616
15,000
(2,042)
(1,753)
83,936
2,271
1,373
3,684
3,580
7,115
4,071
4,616
15,000
86,422
86,534
298,602
88,464
88,287
270 140
TOTAL FUNDS
5,189,020
462,336
5,651,356
Nel movement in funds, included in the above are as follows..
lllcoming
resources
Resources
Expended
MoT¥ement
in funds
Unrestricted funds:
General fund
4 223,888
3,790,014
433,874
Restricted funds:
Bursary fund
Sports Hall Equipment fund
Swimming pool fiind
Play ￿'t* fund
iPad fund
Picnic Benches fund
Playground Resouwes fund
Piano fund
Cricket Pavilion
The Leo Grove fund
Library book fund
Espace fund
Raindrop fund
74,700
(62,698)
(1,448)
(1,201)
(38)
(1,841}
(895)
(1,024)
12,002
{1,448)
(1,201)
(38)
(1,841)
(895)
1,991
4,071
4,616
15,000
3,015
4,071
4,616
Is,000
2,000
(2,000)
(2,042)
(1,753)
{2,042)
(1,753)
28,462
103 402
TOTAL FUNDS
4 327 290
3,864 954
462
36
Page 22

EVERSFIELD PREPARAI'ORY SCHOOL TRUST LIMITED
P*OTES TO THL filiYANI CIAL STATEMI ENTS- COP*TINUED
FOR THE YEAR END 31 JULY 2024
Restricted funds
The Sports Hall Equipment, Pl&y Area, Espace. Raindrop, Swimming Pool Eqiiipment and iPad fund,
Picnic Benehes. Playground Markings. Piano and Crieket Pavilion funds represent money donated for a
specific purpose. Tlic money has been spcnt on the assets as detailed and the fvnds are being arnortised in
line with the depreciation of ihose asseis.
The Leo Grove fund I'epresei)t5 Inoney doiiatcd by a parciit for the purpose of temporarily supporting other
parents in the purcha5iiig of 5POrt5 equipment or paying towards instrumental lessons.
The Bursary fund rcprcscnts spccific donations rcccivcd, rctaincd dcposits from leavers and a transfer of
unrestrictcd funds. The fund will be uscd to provide mean5-tested bursaries for pupils.
15. MOVEMENT IN FUNDS- continued
Comparatives for movement In funds
Movernent
in fund5
At 01108122
At 31107123
Unrestricted funds:
General fund
4.625,082
4.625.082
293,798
293,798
4,918.880
4,918,880
Restricted funds:
Bursary fuiid
Sports Hall Equipment fund
SwitTllning pool fund
Play Area fund
iPad fund
Picnic Benches fund
Playgrolind Markings fund
Espace fund
Raindrop fvnd
72,435
2,897
4,674
1.449
7,367
15011
(1,449)
(1,2021
(381
{1,8421
4,475
5,124
(2,039)
1,753)
775
71,934
1.448
3,472
1,411
5,525
4.475
5,124
88,464
88,287
270,140
90,503
90,040
269,365
TOTAL FUNDS
4,894,447
?94,573
5,189,020
Page 23

EVERSFIELD PREPAIL4TORY SCHOOL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMEP4TS- CONTINUED
FOR THE YEAR END 31 JULY 2024
Comparative net movement in funds. included in ihe above were as follows..
Incoming
resources
Resources
Expended
Movement
in funds
Unrestricted funds:
General fund
3,769,477
3,475,679
293,798
Restrieted funds".
Bursary fund
Sports Hall Equipment fund
Swimmiiig pool fund
Play Area fvnd
iPad fiind
Picnic Benches fund
Playground Markings fiind
Esp<ice ftind
Raiiidrop fui)d
49,712
(50,213)
11,449)
11.202)
1381
{1,842)
(501)
(1,449}
(1,202)
{38)
(1,8421
4,475
5,124
(2,039)
1,753
775
4.475
5,124
{2,039)
(1.753
58.536
TOTAL FUNDS
3,828,788
3,534,215)
294,573
16. RELATED PARTY DISCLOSURES
Thcrc were iio related party transaction5 for the year ended 31 July 2024 or 31 July 2023.
17. ULTIMATE CONTROLLING PARTY
The company is controlled by the Board of Trustees.
Page 24