2021-08-31-accounts - Belmont-Birklands School Trust Limited

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BELMONT GROSVENOR SCHOOL

TRUSTEES’ REPORT FOR THE YEAR ENDING 31st AUGUST 2021

INTRODUCTION

The Governors of Belmont Birklands School Trust Ltd present their annual report and audited accounts for the year ended 31[st] August 2021 and confirm they comply with the requirements of the Charities Act 2011, The Memorandum and Articles of Association and the Charities SORP (FRS102).

The school is a company limited by guarantee, with no share capital, and is a registered charity (registration no. 529584). The charitable company’s Memorandum and Articles of Association are the primary governing documents of the school.

Belmont Birklands School Trust Ltd operates Belmont Grosvenor School (BGS), which is a mainstream independent school for pupils aged from 3 months - 11 years, located in rural Nidderdale, North Yorkshire, just 9 miles from the spa town of Harrogate.

The school is housed in a Grade II Listed Gothic building set in impressive grounds extending to some 20 acres. The building and gardens themselves are a significant educational resource and provide a perfect environment for ‘Learning Outside the Classroom’, as well as Forest School activities for all year groups (Pre-Reception – Y6) to enhance the children's health and wellbeing and promote appreciation of their rural environment.

TRUSTEES

The Governors act as trustees of Belmont Birklands School Trust Ltd and constitute the Governing Body of the school. They are responsible for the strategic direction of the school and the overall management of Belmont Birklands School Trust Ltd.

The day-to-day management of the school is the responsibility of the Headteacher. The Head has responsibility for setting and maintaining the academic standards of the school, recruitment and retention of pupils, staff recruitment and development, and for ensuring adherence to financial budgets. The Head is supported by an experienced Senior Leadership Team (SLT).

Trustees are selected in accordance with the requirements of the school. As a board, the trustees need relevant skills and experience to enable them to advise on the educational progression of the school, the financial management of the school, and the wellbeing of all stakeholders at the school. Individually, a trustee should possess skills and experience enabling them to advise the school on aspects of business and collectively, the trustees should possess skills and experience that enable them to advise school on all aspects of business. The school is open to anybody being a trustee regardless of age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership, and pregnancy and maternity.

The trustees meet at least six times per year with additional meetings, as required, to discuss any major issues as they arise. Beyond these meetings, trustees play an active part in school life, from attending key events in the school calendar, to joining pupils and staff at celebration Golden Table lunches, to participating in staff INSET days, and undertaking Learning Walks and lesson observations in school pertinent to their individual areas of responsibility. Sub-committees are set up to review areas and issues as the need arises.

All trustees are volunteers and give their time freely. All trustees undertake training on Safeguarding. A named trustee is responsible for this area and undergoes additional training and also attends Safeguarding meetings at the school.

Trustee members

The trustees who held office during the year and to the date of this report are as follows:

Name	Background/area of expertise	Areas of responsibility
Mr G Milne, Chair of Governors	Retired Headteacher	Education; Recruitment; SEND. Finance Sub-Committee. Art; Design & Technology; PE & Sport. Year 6
Mrs F Trowell	Lawyer	Legal Matters; Charity and Public Benefit. R.E; History; Geography; Music. Year 1
Dr B Whitehead	Scientist	Safeguarding and Child Protection; Marketing. Child Protection and Looked after Children; Science. Year 2 and Year 3
Ms K Standen	Communications	Marketing and Communications. Literacy; Modern Foreign Languages. Year 5
Mr G Lowde	Chartered Accountant	Finance. Finance Sub-Committee. Computing
Mrs C Brooksbank (joined February 2021)	Chartered Physiotherapist	Special Educational Needs and Disability. PSHEE. Year 4
Mrs C Beeley (joined February 2021)	Accountant	EYFS and Magic Tree Nursery. Numeracy. Magic Tree, Pre-Reception and Reception

PROFESSIONAL RELATIONSHIPS

The Head, Mrs Sophia Ashworth Jones, took up her post on 1[st] September 2018 and is a member of IAPS. She left the post on 31[st] August 2021.Details of her successor follow later in this report
Chair of Governors, Mr Gordon Milne, is a Governor at a state school in Bardsey and is Chairman of the Chatsworth Schools Group governing body
The school is a member of The Independent Schools Bursars Association (ISBA) and The Association of Governing Bodies of Independent Schools (AGBIS)
The Governors complete their AGBIS Governors’ Compliance Checklist document during monitoring visits, ensuring the school stays compliant in all statutory areas.

OUR AIMS

The primary object of the charity, as set out in its Memorandum and Articles of Association, is for the advancement of education.

The school aims to provide a rich, diverse, happy and supportive learning environment, fostering children’s intellectual, creative, and sporting development in an environment which celebrates roundedness, balanced along with spiritual and emotional wellness. The school views and appreciates each child both as an individual and as a valued member of the school community, offering them a range of educational opportunities to fulfil their aspirations and potential.

It is our expectation and goal that Belmont Grosvenor School pupils come to enjoy and pursue learning. Whilst their wellbeing is safeguarded and cherished and their resilience is nurtured and encouraged, they will develop as effective communicators and as independent critical thinkers and decision makers; accept challenges; appreciate and respect differences, and live as informed, concerned and responsible members of a global society.

We encourage children to enter into a wise and creative exploration of life, to develop the
resourcefulness, resilience and self-confidence that will help them find solutions to problems and make a positive contribution to society
We ensure our pupils acquire the necessary firm foundations in literacy and numeracy and
we enhance their skills and performance in imaginative, creative and physical activities both in and beyond the classroom
We stimulate their investigative minds and encourage them to develop a creative and
analytical approach to learning
We advance our pupils’ scientific and technical knowledge to enable them to be original
and diverse thinkers
We nurture their physical and social development, enabling them to handle both success
and disappointment in a dignified and balanced way
We encourage children to value service and giving by allowing them leadership
opportunities and enabling them to take part in charitable work and outreach activities
We foster mutual respect and compassion for each other, the wider community and the
world
We seek to achieve these aims in a supportive, inclusive atmosphere.

PUBLIC BENEFIT

The trustees give careful consideration to the Charity Commission’s general guidance on public benefit and confirm that they give due regard to this guidance in setting the school’s strategic plan.

Belmont Grosvenor School is a charitable trust which seeks to benefit the public through the pursuit of its stated aims. Its broad range of activities and the depth of involvement in the local community are hopefully a clear demonstration of its commitment in this regard.

However, in a year which continued to be disrupted by the Covid-19 pandemic with restrictions placed on staff, pupils and parents, some outreach activities had to be curtailed and the extent to which we could share school resources, staff and facilities with the wider community were limited.

Fees

The fees are set at a level to ensure the financial viability of the school and at a level that is consistent with our aim of providing education for the preparation of children for Senior School and subsequently, University and the workplace.

Bursaries and other financial assistance

Belmont Grosvenor School operates a means-tested bursary scheme which is open to existing pupils and to external applicants to promote the inclusion of less financially advantaged pupils. Applications in all cases are assessed by the trustees. A full financial review is carried out annually for successful recipients to ensure the financial assistance is offered to those who need it most. Further details of our bursary policy and how to apply are available on the school website.

During the reporting period no pupils applied for support from the bursary scheme.

A Hardship Fund is also available for existing parents/pupils of the school who are experiencing short-term financial difficulties. The school provides such financial assistance out of fee income only, so the extent of help available is limited, dependent upon pupil numbers and fee levels.

During the reporting period 2 pupils benefitted from support from the Hardship Fund.

We understand the need for financial planning and stability within each family, therefore a school fees plan is available to all parents. Within the nursery, parents are welcome to use Employer Childcare Vouchers to fund nursery fees.

The trustees continue to consult with North Yorkshire County Council and other professional bodies regarding the potential impact upon the business of the introduction of 30-hours funding for three- and four-year-old children. The school continues to offer the Universal Funding of 15 hours. Three- and four-year-old children in receipt of Universal Early Years Funding are able to access the expertise and facilities of the school without having to commit to their ongoing compulsory education at Belmont Grosvenor.

Belmont Grosvenor School aims to attract and retain high calibre staff. To this end, we offer a generous discount scheme to all staff members who choose Belmont Grosvenor as the childcare provider or school for their child.

Relationships and the community

Community events: The school continues to enjoy a strong relationship with the local community and its members are encouraged to take part in school events, where possible, such as the annual Bonfire Night celebration and the Christmas Fayre. In 2020, we were unable to hold both the traditional Bonfire Night celebration and Christmas Fayre due to the national lockdown.

School visitors: We have regular visits from the local vicar, fire service and police to support the school’s academic and PSHEE curriculum, as well as visits from touring theatre groups, sports people and authors who run workshops with our pupils. While Covid-19 restrictions meant our usual programme of activities was somewhat curtailed in the autumn and spring terms, as soon as it was safe to do so, we welcomed visitors back on site.

Sports facilities: Our swimming pool is rented out to local groups at advantageous rates, ensuring that many children within the community have access to swimming lessons, reducing pressure on council-run facilities. Covid restrictions meant these activities were halted in the autumn, spring and summer terms as we tried to restrict numbers on site. Pool hire resumed in September 2021.

We share the grounds and maintenance of our sports fields with the local junior cricket club for the

mutual benefit of our pupils and their club members.

Charity support: We continue to work alongside Harrogate-based charity, Horticap, on hugely

popular wreath making workshops for pupils and parents.

Our music department goes out into the local community at Christmas and performs at care homes and charity events. Both these activities were curtailed in the autumn term, but wreath making was adapted and guidance on how to make a wreath was delivered to the children online. At the time of writing, we can report wreath making workshops made a full comeback in December of 2021.

Sadly, this year our Year 6 pupils were not able to undertake the annual charity fundraising ‘bag pack’ in local supermarkets as part of their Year 6 BGS Award, due to Covid restrictions. However, with the support of the school’s very active PTA, school charity efforts during the period of this report raised £1,248.

Local Primary School support: The local primary school has use of our school minibuses and our driver.

We are a centre for LAMDA exams and welcome external candidates to join our pupils when it’s possible for them to do so. Happily, we were able to hold LAMDA exams in July 2021 for internal and external candidates.

Menwith Hill relationship: We continue to foster a positive relationship with the local United States Air Force base at Menwith Hill and attract a number of families who choose BGS as the childcare and school provider for their children. The presence of a number of American children adds to the cultural richness of the school.

Holiday provision

BGS offers a holiday camp during the school holidays for BGS children. We are the only school in the area to offer an all-year-round provision.

Contribution to the local economy

Significant local employer: The school contributes to the local economy through the employment of both teaching and ancillary staff. 83% of the staff on roll live within the HG postcode area.

Work experience opportunities: We continue to offer work experience opportunities for local young people from both state and independent schools in both the school and Magic Tree Nursery. Plans had been in place to allow work experience students to attend this year, but this was restricted by the DfE, and secondary schools were not permitted to send pupils out due to Covid risks. This work experience programme will resume as soon as such restrictions are lifted.

FINANCIAL PERFORMANCE

The principal source of income is school fees

The school made a surplus of £72,823 compared to a deficit of of £82,444 in the previous year which was heavily impacted by Covid-19.

Total income increased by 13.4% (£168,971). During the year the school received Covid-19 related Government grants totalling £30,888.

Overheads increased by just 1% (£13,704) with all expenditure tightly controlled.

At the time of writing, we can confirm that the freehold property was formally valued on 17[th] January 2022 on an open market value of £3,200,000 and has resulted in a revaluation surplus of £350,000.

The Magic Tree Nursery secured the highest possible ISI inspection rating of outstanding in every category in its last inspection in late 2017, for the second inspection in a row, and continues to prosper under the leadership of Nursery Manager, Jo Henderson, who took up the post on 1[st] September 2019. Demand for places, often with government funding, remains very strong although parental financial constraints and strong state primaries in the local area mean this does not always convert into main school admissions.

The refurbished lodge continues to be an asset to the school, visually enhancing its surroundings and earning rental income of approximately £10,000 per annum.

expenditure. We are also entitled to a reduction on our business rates on the property we occupy for charitable purposes. However, as an educational charity we are unable to reclaim VAT input tax on our costs as we are exempt for VAT purposes. We also pay tax as an employer through the National Insurance contributions we make.

In additional to the very substantial benefits our school brings to our pupils, stakeholders and the wider community through the education we offer, we create a social asset without cost to the Exchequer.

RESERVES POLICY

The reserves policy is to maintain a minimum level of reserves to ensure the school can continue its current level of services having regard to possible future fluctuations in income and expenditure. At 31[st] August 2021 the unrestricted income funds, excluding the revaluation reserve, showed a deficit of £517,918. (2020: £590,741).

RISK MANAGEMENT

The trustees are responsible for, and actively review on a regular basis, the major risks which the charitable company faces. Risks are identified, assessed and managed throughout the year. The trustees believe that appropriate controls are in place to manage risks successfully. The key controls are:

Comprehensive strategic planning, budgeting and management accounting
Established organisational structure and lines of reporting
Formal agendas and minutes of Governors’ meetings
Formal written policies
Comprehensive insurance policies
Formal risk assessments undertaken
Comprehensive Risk Register reviewed on a termly basis and/or more frequently when
new risks arise or risk profiles change
Clear authorisation and approval levels
Safeguarding procedures as required by law for the protection of children.

During this reporting period, the continuation of the Covid-19 pandemic presented the school, its leadership team, and the trustees with additional risks to consider and manage, including, but not limited to:

Infection risk among staff and pupils which could impact on the school’s ability to fulfil its aims, even if only temporarily
Risk of falling revenue if pupils withdrew from school due to financial hardship brought on by the pandemic
Potential safeguarding risks associated with the use of new online learning platforms
Detrimental effect on pupils’ academic progress and emotional wellbeing due to an extended period of remote learning and absence from school.

At the end of this report, we have included a section titled Covid Response which provides more detail on the steps taken by the school to ensure we continued to deliver a high-quality learning experience both when school was ordered to close and when it welcomed pupils back to the classroom.

It also details some of the steps taken to ensure the safety of both pupils and staff. A detailed Covid-specific Risk Assessment was undertaken when the first school closure was announced and plans for Covid infection risk mitigation were implemented, both during the period of remote learning and when the children returned to school. This Risk Assessment is a ‘live’ document which has been continually monitored and updated as different restrictions have been imposed or eased, and is accessible to parents via the school website.

PLANS FOR FUTURE PERIOD

Recruitment

A number of pupils were recruited as the year progressed which ended with higher numbers than had been expected and which were built into the budget. The draft budget for September 2020 anticipated 122 pupils and we opened in September 2020 with 133 pupils and increased this number to a total of 146 in the summer term of 2021. Recruitment remains a top priority at all times throughout the year and our adaptable, inclusive and open-door approach to those interested in a place continues to yield pleasing conversion rates. However, Covid restrictions and the absence of pupils for periods of time did limit our ability to showcase the full Belmont Grosvenor experience to prospective pupils and parents.

The Magic Tree Nursery continues to be successful and the challenge continues to be retention of more of these pupils as they reach school age.

The school will seek to increase pupil numbers across all year groups using strategic marketing and advertising and working closely with existing families. The focus is to retain pupils as they approach the end of Early Years. We continually monitor pupil numbers and should it be necessary, will adjust our cost base accordingly.

We continue to foster a positive relationship with our contacts at the American Air Force Base at Menwith Hill and raise awareness of the Belmont Grosvenor School offer before families arrive in the UK. The virtual tours of our facilities and drone tour of our grounds which are hosted on the school website help facilitate an understanding of the uniqueness of Belmont Grosvenor School.

Marketing

Our marketing activities, led by a professional PR consultant, continue to reap rewards. Recruitment is a key focus of our marketing efforts and we promote our Open Morning events through a range of channels. Attendance at these events was good in the first half of the year and conversion rates from EYFS into school have remained positive. We continually explore new channels and media opportunities for marketing in the local area and analyse their effectiveness to ensure the marketing budget is used effectively.

In the previous reporting period, school introduced virtual tours of the school premises and grounds including a drone tour to celebrate and show off our unique setting. We have continued to offer these virtual tours where desired, but as restrictions eased through the year, we were able to reintroduce physical tours.

Depending upon the prevailing DfE guidance, a combination of virtual and physical tours have been used at various times during the pandemic. Staff, pupil and visitor safety was paramount, so where possible, physical tours were held ‘after hours’ when the majority of children had left the site. Physical tours were allowed once more from the summer term of 2021, but following strict Covid protocols.

The school website www.belmontgrosvenor.co.uk designed in 2016, continues to generate interest in the school both in the UK and from the USA, and its content is refreshed regularly. Plans for a photographic shoot in the school buildings and grounds to create fresh content for the website and wider marketing activities had to be put on hold due to Covid restrictions in the summer term, but this has now been completed. As we finalise this report, we have begun a new website design project which will showcase this new imagery in the coming months.

The school maintains a high profile on social media, celebrating the achievements of our pupils both in and out of school and showcasing our unique setting.

New branding introduced last year to refresh our appearance continues to be rolled out around the school and across marketing literature and has begun to appear on branded uniform items.

ISI Inspection outcomes

The school has continued to publicise and celebrate the findings of the Independent Schools Inspectorate at our last inspection in November 2017. They found Belmont Grosvenor School to be Fully Compliant with the regulatory standard for schools, Outstanding in our provision for under 2s and in our provision for 3 – 11-year-olds we were judged to be Excellent.

Outstanding and Excellent are the highest grades that can be awarded and are testament to the dedication and commitment of our staff to the education and wellbeing of our pupils and fulfilment of our aims as a charitable trust.

As we approach our next inspection, the school is prepared and ready with teaching and learning and resources in place. Our staff remain fully updated in training expectations, and school continues to be up to date in all compliance and policy.

Strategic direction

The trustees intend to continue their current strategies of maintaining the school’s position in the area in a competitive market by investing to provide high quality education for our pupils. Achieving a high standard of academic results is a constant aim whilst maintaining the breadth and depth of the education provided.

To this end, in the summer term a strategic review was undertaken by a marketing working party comprising members of the governing body and leadership team, and marketing professionals from within our parent body. The working party consulted with all key stakeholders, including our pupils. The result is a newly articulated brand vision for the school which is now being integrated into our strategic plan and applied to marketing activities.

A launch event – ‘BGS Fest’ - was planned by the leadership team and PTA to be held in September 2021 to launch the freshly articulated vision and values to the parent body.

The Head and senior teaching staff continue to review the curriculum to ensure that the education

remains appropriate for our pupils’ development.

We continue to invest in the training and development of our staff in support of Our Aims. Given the increased recognition over recent years of the impact of social and emotional aspects of learning on academic attainment in school, we have a member of staff qualified as an Emotional Literacy Support Assistant (ELSA), to offer support to our pupils in this regard.

The trustees have greatly enjoyed working with the Head, Mrs Sophia Ashworth Jones, along with her SLT, in reviewing the rolling three-year school development plan and refining the strategic direction of the school for the future.

Mrs Ashworth Jones left the school on 31[st] August 2021 to take up a Headship at a large 3 – 18 Independent School in the Midlands. At the time she tendered her resignation, it was not possible, due to Covid-19 restrictions, to conduct school tours and in-person interviews which the trustees judged could negatively impact the recruitment process. With a setting as unique as ours, the trustees judged that, prospective candidates needed to see and experience the site and the school for themselves. They therefore decided to delay the recruitment process until restrictions were lifted and therefore began recruitment in the autumn term of 2021. We have been fortunate to have our former Director of Studies and Deputy Head, Mrs Emma Shea, step up into the role of Acting Head for the 2021-22 academic year, most ably supported by two Acting Assistant Heads

At the time of writing, we have appointed a new Head, Mr Nathan Sadler, who will join the school, along with his three children, in September 2022 from GEMS Wellington Academy in Dubai.

Investment plans

Our future plans are financed primarily from fee income. We continue to invest in improvement of our grounds and facilities as funds permit, but no major premises expenditure

is currently planned. We continue to respond to the challenges of the Grade II listing, as required.

Teachers’ Pension Scheme

We continue to monitor the situation with regard to changes to the Teachers’ Pension Scheme (TPS) and will need to review pension provision for our teaching staff in view of the increased burden placed on the school’s finances by the significant increase in employers’ and employees’ contributions to TPS.

At the time of writing, we await further guidance from ISBA before taking specialist professional advice to help us determine the best course of action for the school and its staff.

COVID RESPONSE

The impact of Covid-19 on Belmont Grosvenor School

The global Covid-19 pandemic has continued to impact Belmont Grosvenor School through the last academic year but as we finalise the 2020-2021 Trustees Report we are happy to say that school has returned to something nearer its pre-pandemic operations.

The arrival of the Covid-19 pandemic has had a significant impact on operations at Belmont Grosvenor School since late March 2020, but the whole school rose to meet the challenges presented and finds itself today in a reassuringly positive position as the restrictions continue to ease.

On Government advice, the school closed on Friday 20[th] March 2020 and within days implemented a comprehensive programme of remote learning to meet the age-appropriate needs of all pupils. Teaching and support staff were trained in the use of new online platforms and adjusted their lesson planning to make use of tools such as Microsoft Teams, Google Classroom and Zoom. For pupils with restricted access to online platforms, paper-based workbooks were provided, ensuring all pupils could engage successfully with remote learning. All work was marked and feedback given in a timely manner, whether completed online or paper-based.

Immediately following closure, support staff were redeployed and a comprehensive cleaning programme was undertaken throughout the school, with unused classrooms locked down to await the return of pupils once it was declared safe to do so. Once pupils were back in school, a rolling cleaning programme and rotation of classrooms was implemented.

The school and nursery remained open throughout the period of closure to any children of key workers (KWC) who required such provision, including those of some of our teaching staff and members of the senior leadership team. Uptake of this provision was at low levels initially, but grew through the second and third lockdowns, as more teaching staff were required in school to meet the needs of the growing number of KWC, and to comply with staff-pupil ratios and class bubble arrangements. In order to ensure as common an experience for all BGS pupils, any KWC from Year 1 and above who were in school accessed their learning online.

In line with Government guidance, BGS first welcomed back pupils in Nursery, Reception, Year 1 and Year 6 in early June 2020. Uptake was high, but to meet the needs of any family who needed or preferred to keep their child(ren) away from school, the remote learning programme continued in parallel with the return to the classroom.

The school has engaged with parents and responded to feedback on the remote learning provision, adjusting the offering accordingly.

One of Belmont Grosvenor’s greatest assets is its extensive premises, grounds and facilities. This, coupled with relatively small class sizes across the school made it quite straightforward to comply with the Government’s social distancing guidelines and to deliver as much learning as possible outside the classroom, once pupils were allowed back into school. BGS’s Forest School facilities, outside classroom

and amphitheatre have never been better-used! In addition, as soon as restrictions permitted, any KWC were able to access daily swimming lessons in the school pool.

During this period the PTA funded fleece jumpers for every pupil and every member of staff which have kept them warm during outside learning and play. The fleeces proudly showcase the school’s new branding.

The success of the return to school for the priority age groups gave the Head and her leadership team confidence that the return to school could be safely rolled out to the remaining year groups, and the Head used the discretion granted her to invite all remaining year groups to return through the second half of June 2020, with all year groups back in school for the final three weeks of term. Uptake was very high with only a few pupils remaining in shielding families. 100% of Year 6 pupils returned to school for the final 6weeks of term to help best prepare them for the transition to secondary school in September 2020. With the support of the PTA, they were even able to experience some of those celebrations and rites of passage that all Year 6 pupils should enjoy, with a socially distanced celebration morning, outdoor gym display and family picnics in the grounds.

The trustees were sensitive to the financial pressure the lockdown was placing on families and took the decision to draw on reserves to provide some financial support to parents, waiving fees from the point of closure in March until school could welcome any pupils on site once more in June. They also deferred a planned September 2020 fee increase to January 2021. Feedback from parents on this was overwhelmingly positive and it is clear this gesture ensured a significant number of pupils returned to school in the summer term and in September who would otherwise have had to withdraw. When fee invoices were issued after Half Term, payment was almost universally prompt.

The action of the trustees in this regard put the school in as positive a position as possible for September 2020 with pupil numbers in line with expectations before the pandemic struck.

With the benefit of experience gained by staff, parents and pupils alike in the first lockdown, when remote learning resumed as a result of the November 2020 and January 2021 lockdowns, school was ready once more to deliver a rich and diverse online learning experience.

We are, however, conscious that some pupils may have fallen behind and not yet be meeting expected academic achievement levels in some subjects following an extended period of remote learning. Therefore, teachers and members of the SLT are monitoring pupil progress carefully, introducing additional assessments where required to see if any interventions might be needed, and putting in place support for individual pupils accordingly.

Throughout the period of closure and through the return to school, the marketing team has been proactive in showcasing the unique character and features of BGS through a variety of social media channels, to positive effect. Even at such a challenging time, school continues to receive inquiries from prospective parents, motivated by what they have seen and heard about the way Belmont Grosvenor has risen to meet the challenges of preparatory school teaching in a pandemic.

Pastoral care has been critical at this unsettling time and the school’s DSL/ELSA has continued to have regular telephone contact with every pupil and their family throughout the periods of closure, to check on their individual wellbeing and to gauge how they were coping with remote learning – pupils and parents alike! The familial nature of the school has not been lost during lockdown – pupils’ achievements, both

academic and extra-curricular, have continued to be celebrated while learning from home and have been showcased in highly engaging weekly newsletters and Zoom celebration assemblies.

The entire Belmont Grosvenor community - from Governors and the Senior Leadership Team, to teaching and support staff, to parents and pupils - has continued to show understanding, flexibility, resilience and positivity in embracing new ways of working, and teaching, and learning through these unprecedented times.

The trustees continued to monitor closely the forecast pupil numbers and the school’s cost base and set the fee increase for January 2021 ahead of the new term.

As we start to emerge from the pandemic, the school is in good health spiritually, and the school community is ready to face whatever challenges this school year may bring, but we recognise there will be a need for very careful financial husbandry in the year ahead and our emphasis will remain on pupil recruitment across all year groups.

COMPANY REGISTRATION NUMBER: 962198 CHARITY REGISTRATION NUMBER: 529584

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

31 August 2021

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2021

	Pages
Trustees' annual report (incorporating the director's report)	1 to 12
Independent auditor's report to the members	13 to 16
Statement of financial activities (including income and expenditure account)	17
Statement of financial position	18
Statement of cash flows	19
Notes to the financial statements	20 to 29

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 August 2021.

Reference and administrative details
Registered charity name	The Belmont-Birklands School Trust Limited
Charity registration number	529584
Company registration number	962198
Principal office and registered	Swarcliffe Hall
office	Birstwith
	Harrogate
	HG3 2JS
The trustees
	Mr G Milne
	Mrs F E Trowell
	Dr B J Whitehead
	Mrs VJD Grafton	(Resigned 4 September 2020)
	Ms K E L Standen
	Mr G W Lowde
	Ms C Beeley	(Appointed 27 January 2021)
	Ms C Brooksbank	(Appointed 27 January 2021)
Company secretary	Mrs H Kernaghan
Auditor	Sagars Accountants Ltd
	Chartered accountants & statutory auditor
	Gresham House
	5-7 St Paul's Street
	Leeds
	LS1 2JG
Bankers	Bank of Scotland
	Quay West
	Quay Parade
	Swansea
	SA1 8AB

- 1 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

Structure, governance and management

The Governors of Belmont Birklands School Trust Ltd present their annual report and audited accounts for the year ended 31st August 2021 and confirm they comply with the requirements of the Charities Act 2011, The Memorandum and Articles of Association and the Charities SORP (FRS102).

The school is a company limited by guarantee, with no share capital, and is a registered charity (registration no 529584). The charitable company's Memorandum and Articles of Association are the primary governing documents of the school.

The school is housed in a Grade II Listed Gothic building set in impressive grounds extending to some 20 acres. The building and gardens themselves are a significant educational resource and provide a perfect environment for 'Learning Outside the Classroom' and Forest School activities for all year groups (Pre-Reception – Y6) to enhance the children's health and wellbeing and promote appreciation of their rural environment.

TRUSTEES

The Governors act as trustees of Belmont Birklands School Trust Ltd and constitute the Governing Body of the school. They are responsible for the overall management of Belmont Birklands School Trust Ltd.

Trustees are selected in accordance with the requirements of the school. As a board, the trustees need relevant skills and experience to enable them to advise on the educational progression of the school, the financial management of the school, and the wellbeing of all stakeholders at the school. Individually, a trustee should possess skills and experience enabling them to advise on all aspects of business. The school is open to anybody being a trustee regardless of age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership, and pregnancy and maternity.

The trustees meet at least six times per year with additional meetings, as required, to discuss any major issues as they arise. Beyond these meetings, trustees play an active part in school life, from attending key events in the school calendar, to joining pupils and staff at celebration Golden Table lunches, to participating in staff INSET days, and undertaking Learning Walks in school pertinent to their individual areas of responsibility. Sub-committees are set up to review areas and issues as the need arises.

Trustee members

The trustees who held office during the year and to the date of this report were as follows:

Mr G Milne, Chair of Governors (Retired Headteacher): Education, Recruitment, SEND
Mrs F Trowell (Lawyer): Legal Matters, Charity and Public Benefit
Dr B Whitehead (Scientist): Safeguarding and Child Protection, Marketing
Ms K Standen (Communications): Marketing and Communications
Mr G Lowde (Chartered Accountant): Finance
Mrs C Brooksbank (Chartered Physiotherapist): Special Educational Needs and Disability (Joined February 2021)

- 2 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Mrs C Beeley (Accountant): EYFS and Magic Tree Nursery (Joined February 2021)

PROFESSIONAL RELATIONSHIPS

The Head, Mrs Sophia Ashworth Jones, took up her post 1st September 2018. She is a member of IAPS. She left the post on 31[st] August 2021. Chair of Governors, Mr Gordon Milne, is a governor at a state school in Bardsey and Chairman of the Chatsworth Schools Group governing body.

The school is also a member of The Independent Schools Bursars Association and The Association of Governing Bodies of Independent Schools.

The Governors complete their AGBIS Governors' Compliance Checklist document during monitoring visits, ensuring the school stays compliant in all statutory areas.

- 3 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Objectives and activities

The primary object of the charity, as set out in its Memorandum and Articles of Association, is for the advancement of education.

The school aims to provide a rich, diverse, happy and supportive learning environment, fostering children's intellectual, creative, and sporting development in an environment which celebrates roundedness, balanced along with spiritual and emotional wellness. The school views and appreciates each child both as an individual and as a valued member of the school community, offering them a range of educational opportunities to fulfil their aspirations and potential.

It is our expectation and goal that Belmont Grosvenor School pupils come to enjoy and pursue learning. Whilst their wellbeing is safeguarded and cherished and their resilience is nurtured and encouraged; they will develop as effective communicators and as independent critical thinkers and decision makers; accept challenges; appreciate and respect differences and live as informed, concerned and responsible members of a global society.

We encourage children to enter into a wise and creative exploration of life, to develop the resourcefulness, resilience and self-confidence that will help them find solutions to problems and make a positive contribution to society
We ensure our pupils acquire the necessary firm foundations in literacy and numeracy and we enhance their skills and performance in imaginative, creative and physical activities both in and beyond the classroom
We stimulate their investigative minds and encourage them to develop a creative and analytical approach to learning
• We advance our pupils' scientific and technical knowledge to enable them to be original and diverse thinkers • We nurture their physical and social development, enabling them to handle both success and disappointment in a dignified and balanced way
We encourage children to value service and giving by allowing them leadership opportunities and enabling them to take part in charitable work and outreach
We foster mutual respect and compassion for each other, the wider community and the world
We seek to achieve these aims in a supportive, inclusive atmosphere.

PUBLIC BENEFIT

The trustees have given careful consideration to the Charity Commission's general guidance on public benefit and confirm that they give due regard to this guidance in setting the school's strategic plan.

Fees

Bursaries and other financial assistance

During the reporting period no pupils applied for support from the bursary scheme.

A Hardship Fund is also available for existing parents/pupils of the school who are experiencing short-term financial difficulties. The school provides such financial assistance out of fee income only so the extent of help available is limited, dependent upon pupil numbers and fee levels.

During the reporting period 2 pupils benefitted from support from the Hardship Fund.

- 4 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

The trustees continue to consult with North Yorkshire County Council and other Professional Bodies regarding the potential impact upon the business of the introduction of 30 hours funding for three and four-year old children. At this time, the school continues to offer the Universal Funding of 15 hours. Three and four-year old children in receipt of Universal Early Years Funding are able to access the expertise and facilities of the school without having to commit to their ongoing compulsory education at Belmont Grosvenor.

- 5 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Relationships and the community

We share the grounds and maintenance of our sports fields with the local junior cricket club for the mutual benefit of our pupils and their club members.

Charity support: We have continued to work alongside Harrogate-based charity, Horticap, on hugely popular wreath making workshops for pupils and parents.

Local Primary School support: The local primary school has use of our school minibuses and driver.

Holiday provision

BGS offers a holiday camp during the school holidays for BGS children. We are the only school in the area to offer an all-yearround provision.

Contribution to the local economy

Significant local employer: The school contributes to the local economy through the employment of staff. 83% of the staff on roll live within the HG postcode area. Work experience opportunities: We continue to offer work experience opportunities for local young people from both state and independent schools in both the school and Magic Tree Nursery. Plans had been in place to allow work experience students to attend this year, but this was restricted by the DfE, and secondary schools were not permitted to send pupils out due to Covid risks. This work experience programme will resume as soon as such restrictions are lifted.

- 6 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Financial performance

The principal source of income is school fees

The school made a surplus of £72,823 compared to a deficit of £82,444 in the previous year which was heavily impacted by Covid-19.

Total income increased by 13.4% (£168,971). During the year the school received Covid-19 related Government grants totalling £30,888.

Overheads increased by just 1% (£13,704) with all expenditure tightly controlled.

At the time of writing, we can confirm that the freehold property was formally valued on 17th January 2022 on an open market value of £3,200,000 and has resulted in a revaluation surplus of £350,000.

The Magic Tree Nursery secured the highest possible ISI inspection rating of outstanding in every category in its last inspection in late 2017, for the second inspection in a row, and continues to prosper under the leadership of Nursery Manager, Jo Henderson, who took up the post on 1st September 2019. Demand for places, often with government funding, remains very strong although parental financial constraints and strong state primaries in the local area mean this does not always convert into main school admissions.

The refurbished lodge continues to be an asset to the school, visually enhancing its surroundings and earning rental income of approximately £10,000 per annum.

As a charity, the parents of our pupils have the assurance that all the income of the school must be applied for educational purposes. As an educational charity we enjoy tax exemption on charitable income and expenditure. We are also entitled to a reduction on our business rates on the property we occupy for charitable purposes. However, as an educational charity we are unable to reclaim VAT input tax on our costs as we are exempt for VAT purposes. We also pay tax as an employer through the National Insurance contributions we make.

RESERVES POLICY

The reserves policy is to maintain a minimum level of reserves to ensure the school can continue its current level of services having regard to possible future fluctuations in income and expenditure. At 31st August 2021 the unrestricted income funds, excluding the revaluation reserve, showed a deficit of £517,918. (2020: £590,741).

RISK MANAGEMENT

Comprehensive strategic planning, budgeting and management accounting
Established organisational structure and lines of reporting
Formal agendas and minutes of Governors’ meetings
Formal written policies
Comprehensive insurance policies
Formal risk assessments undertaken
Comprehensive Risk Register reviewed on a termly basis and/or more frequently when new risks arise or risk profiles change
Clear authorisation and approval levels
Safeguarding procedures as required by law for the protection of children.

Infection risk among staff and pupils which could impact on the school’s ability to fulfil its aims, even if only temporarily
Risk of falling revenue if pupils withdrew from school due to financial hardship brought on by the pandemic
• Potential safeguarding risks associated with the use of new online learning platforms
Detrimental effect on pupils’ academic progress and emotional wellbeing due to an extended period of remote

- 7 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

learning and absence from school.

At the end of this report, we have included a section titled Covid Response which provides more detail on the steps taken by the school to ensure we continued to deliver a high-quality learning experience both when school was ordered to close and when it welcomed pupils back to the classroom.

PLANS FOR FUTURE PERIOD

Recruitment

The Magic Tree Nursery continues to be successful and the challenge continues to be retention of more of these pupils as they reach school age.

Marketing

The school maintains a high profile on social media, celebrating the achievements of our pupils both in and out of school and showcasing our unique setting.

New branding introduced last year to refresh our appearance continues to be rolled out around the school and across marketing

- 8 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

literature and has begun to appear on branded uniform items.

ISI Inspection outcomes

The school has continued to publicise and celebrate the November 2017 findings of the Independent Schools Inspectorate. They found Belmont Grosvenor School to be Fully Compliant with the regulatory standard for schools, Outstanding in our provision for under 2s and in our provision for 3 - 11-year-olds we were judged to be Excellent.

Outstanding and Excellent are the highest grades that can be awarded and are testament to the dedication and commitment of our staff to the education and wellbeing of our pupils and fulfilment of our aims as a charitable trust.

As we approach our next inspection, the school is prepared and ready with teaching and learning and resources in place. Staff remain fully updated in training expectations, and school continues to be up to date in all compliance and policy.

Strategic direction

A launch event – ‘BGS Fest’ - was planned by the leadership team and PTA to be held in September 2021 to launch the freshly articulated vision and values to the parent body.

The Head and senior teaching staff continue to review the curriculum to ensure that the education remains appropriate for our pupils’ development.

Mrs Ashworth Jones left the school on 31st August 2021 to take up a Headship at a large 3 – 18 Independent School in the Midlands. At the time she tendered her resignation, it was not possible, due to Covid-19 restrictions, to conduct school tours and in-person interviews which the trustees judged could negatively impact the recruitment process. With a setting as unique as ours, the trustees judged that, prospective candidates needed to see and experience the site and the school for themselves. They therefore decided to delay the recruitment process until restrictions were lifted and therefore began recruitment in the autumn term of 2021. We have been fortunate to have our former Director of Studies and Deputy Head, Mrs Emma Shea, step up into the role of Acting Head for the 2021-22 academic year, most ably supported by two Acting Assistant Heads.

At the time of writing, we have appointed a new Head, Mr Nathan Sadler, who will join the school, along with his three children, in September 2022 from GEMS Wellington Academy in Dubai.

Investment plans

Our future plans are financed primarily from fee income. We continue to invest in improvement of our grounds and facilities as funds permit, but no major premises expenditure is currently planned. We continue to respond to the challenges of the Grade II listing, as required.

Teachers' Pension Scheme

We continue to monitor the situation with regard to changes to the Teachers' Pension Scheme (TPS) and will need to review pension provision for our teaching staff in view of the increased burden placed on the school's finances by the significant increase in employers' and employees' contributions to TPS. At the time of writing, we await further guidance from ISBA before taking specialist professional advice to help us determine the best course of action for the school and its staff.

- 9 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

COVID RESPONSE

The impact of Covid-19 on Belmont Grosvenor School

On Government advice, the school closed on Friday 20th March 2020 and within days implemented a comprehensive programme of remote learning to meet the age-appropriate needs of all pupils. Teaching and support staff were trained in the use of new online platforms and adjusted their lesson planning to make use of tools such as Microsoft Teams, Google Classroom and Zoom. For pupils with restricted access to online platforms, paper-based workbooks were provided, ensuring all pupils could engage successfully with remote learning. All work was marked and feedback given in a timely manner, whether completed online or paper-based.

The school has engaged with parents and responded to feedback on the remote learning provision, adjusting the offering accordingly.

- 10 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

The action of the trustees in this regard put the school in as positive a position as possible for September 2020 with pupil numbers in line with expectations before the pandemic struck.

The school took advantage of the Government Furlough Scheme and furloughed between 31% and 65% of staff on rotation between April and August 2020 which impacted staff costs positively at this difficult time. However, use of the scheme had to be balanced with teaching requirements for both classroom-based and remote learning, and increasing demands from support staff. For this reason, through the second and third lockdowns use of the furlough scheme was reduced to approximately 16%. Throughout the period of closure and through the return to school, the marketing team has been proactive in showcasing the unique character and features of BGS through a variety of social media channels, to positive effect. Even at such a challenging time, school continues to receive inquiries from prospective parents, motivated by what they have seen and heard about the way Belmont Grosvenor has risen to meet the challenges of preparatory school teaching in a pandemic.

A virtual tour of the school premises and facilities was introduced to the school website along with a drone tour of the extensive grounds to give prospective parents and pupils a real flavour of our unique setting while they were unable to visit it in person. Pastoral care has been critical at this unsettling time and the school’s DSL/ELSA has continued to have regular telephone contact with every pupil and their family throughout the periods of closure, to check on their individual wellbeing and to gauge how they were coping with remote learning – pupils and parents alike! The familial nature of the school has not been lost during lockdown – pupils’ achievements, both academic and extra-curricular, have continued to be celebrated while learning from home and have been showcased in highly engaging weekly newsletters and Zoom celebration assemblies.

The trustees continued to monitor closely the forecast pupil numbers and the school’s cost base and set the fee increase for January 2021 ahead of the new term.

Relationships and the community

Trustees' responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;

- 11 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

Sagars Accountants Ltd is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

The trustees' annual report and the strategic report were approved on 25[th] May 2022 and signed on behalf of the board of trustees by:

Mr G W Lowde Trustee

Mrs H Kernaghan Charity Secretary

- 12 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited

Year ended 31 August 2021

Opinion

We have audited the financial statements of The Belmont-Birklands School Trust Limited (the 'charity') for the year ended 31 August 2021 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 August 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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 applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

- 13 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited (continued)

Year ended 31 August 2021

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which 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 have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; and

· the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the directors reports and take advantage of the small companies exemption from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material 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 statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

- 14 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of fee income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with the auditing standards. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

· Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- 15 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Susan Seaman BA, FCA, CIOT (Senior Statutory Auditor) (Senior Statutory Auditor)

For and on behalf of Sagars Accountants Ltd Chartered accountants & statutory auditor Gresham House 5-7 St Paul's Street Leeds LS1 2JG

- 16 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 August 2021

Year ended 31 August 2021
		2021		2020
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Charitable activities	5	1,400,260	1,400,260	1,124,976
Other trading activities	6	–	–	16,740
Investment income	7	9,970	9,970	11,241
Other income	8	23,360	23,360	111,662
		--------------------------------------	--------------------------------------	--------------------------------------
Total income		1,433,590	1,433,590	1,264,619
		======================================	======================================	======================================
Expenditure
Expenditure on charitable activities	9,10	1,360,767	1,360,767	1,347,063
		--------------------------------------	--------------------------------------	--------------------------------------
Total expenditure		1,360,767	1,360,767	1,347,063
		======================================	======================================	======================================
Revaluation of property for charity's own use	12	(350,000)	(350,000)	–
		--------------------------------------	--------------------------------------	--------------------------------------
Net income/(expenditure) and net movement in funds		422,823	422,823	(82,444)
		======================================	======================================	======================================
Reconciliation of funds
Total funds brought forward		669,875	669,875	752,319
		--------------------------------------	--------------------------------------	--------------------------------------
Total funds carried forward		1,092,698	1,092,698	669,875
		======================================	======================================	======================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 20 to 29 form part of these financial statements.

- 17 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Position

31 August 2021

31 August 2021
		2021		2020
	Note	£	£	£	£
Fixed assets
Tangible fixed assets	16		2,961,081		2,611,624
Investment Property	17		250,000		250,000
			--------------------------------------		--------------------------------------
			3,211,081		2,861,624
Current assets
Debtors	18	71,329		74,581
Cash at bank and in hand		886,230		740,730
		------------------------------		------------------------------
		957,559		815,311
Creditors:amounts falling due within
one year	19	431,507		363,625
		------------------------------		------------------------------
Net current assets			526,052		451,686
			--------------------------------------		--------------------------------------
Total assets less current liabilities			3,737,133		3,313,310
Creditors:amounts falling due after
more than one year	20		2,644,435		2,643,435
			--------------------------------------		--------------------------------------
Net assets			1,092,698		669,875
			======================================		======================================
Funds of the charity
Unrestricted funds:
Revaluation reserve		1,610,616		1,260,616
Other unrestricted income funds		(517,918)		(590,741)
		--------------------------------------		--------------------------------------
Total unrestricted funds		1,092,698		669,875
			------------------------------		------------------------------
Total charity funds	23		1,092,698		669,875
			==============================		==============================

These financial statements were approved by the board of trustees and authorised for issue on 25[th] May 2022, and are signed on behalf of the board by:

Mr G Lowde Trustee Company registration number: 962198 Charity registration number: 529584

The notes on pages 20 to 29 form part of these financial statements.

- 18 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 August 2021

Year ended 31 August 2021
	2021	2020
	£	£
Cash flows from operating activities
Net income/(expenditure)	72,823	(82,444)
Adjustments for:
Depreciation of tangible fixed assets	5,104	4,078
Dividends, interest and rents from investments	(9,900)	(10,920)
Other interest receivable and similar income	(70)	(321)
Interest payable and similar charges	3,537	2,197
Changes in:
Trade and other debtors	3,252	(863)
Trade and other creditors	68,882	42,415
	------------------------------	--------------------------
Cash generated from operations	143,628	(45,858)
Interest paid	(3,537)	(2,197)
Interest received	70	321
	------------------------------	--------------------------
Net cash from/(used in) operating activities	140,161	(47,734)
	==============================	==========================
Cash flows from investing activities
Dividends, interest and rents from investments	9,900	10,920
Purchase of tangible assets	(4,561)	(10,714)
	------------------------------	--------------------------
Net cash from investing activities	5,339	206
	==============================	==========================
Net increase/(decrease) in cash and cash equivalents	145,500	(47,528)
Cash and cash equivalents at beginning of year	740,730	788,258
	------------------------------	------------------------------
Cash and cash equivalents at end of year	886,230	740,730
	==============================	==============================

The notes on pages 20 to 29 form part of these financial statements.

- 19 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2021

1. General information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Swarcliffe Hall, Birstwith, Harrogate, HG3 2JS. The principal activity is the provision of mainstream independent education for pupils from 3 months to 11 years.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP 2015 (FRS102)) and the Companies Act 2006.

The Belmont-Birklands School Trust Limited meets the definition of a public benefit entity under FRS102.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the basis that the charity can continue to operate as a going concern. The School receives financial support from a private individual in the form of a loan that is repayable on or after January 2024. The loan is secured by a charge on the property.

At 31 August 2021 the Charity has net current assets of £526,052 (2020- £451,686). The management accounts show that the Charity has operated at a surplus in the period from 1 September 2021 to the date of signing the accounts.

The Trustees have produced forecasts that have also been sensitised to reflect plausible downside scenarios as a result of the COVID-19 pandemic and its impact on the economy. These demonstrate the Charity is forecast to generate profits and cash in the year ending 31 August 2021 and beyond and that it has sufficient cash reserves to enable it to meet its obligations as they fall due for a period of at least 12 months from the date of signing of these financial statements. As such, the Trustees are satisfied that the Charity has adequate resources to continue to operate for the foreseeable future. For this reason, they continue to adopt the going concern basis for preparing these financial statements.

If the company was unable to continue as a going concern, the financial statements would have to be adjusted to write down assets to their recoverable amounts, to provide for any additional losses or liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

- 20 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Incoming resources

Income from charitable trading activities include school fee income due for the year, together with the sale of school meals an other disbursements.

Investment income is recognised in the accounts on a receivable basis.

Resources expended

Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts.

Charitable expenditure enables the charity to meet its charitable aims and objectives.

Each heading of expenditures includes direct and support costs attributable to each activity. Support costs are those costs which enable fund generating and charitable activates to be undertaken. They have been allocated to each activity cost category on a basis consistent with the use of resources.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 20% Straight Line Equipment - 33.33% Straight Line

The company's policy is to provide depreciation at 2% on freehold buildings but not to provide depreciation on freehold land. However as the buildings are maintained to a very high standard and revalued regularly their residual value is considered by the governors to be not less than their carrying value and therefore the actual depreciation provided in the financial statements in respect of freehold buildings is nil.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

- 21 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Financial instruments

The charity only has financial assets and financial liabilities of a kind that would qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement date.

Pension benefits

The school participates in a multi employer defined benefit pension scheme and a defined contribution pension scheme.

The School contributes to the Teachers' Pension Defined Benefits Scheme (TPS) at rates set by the Scheme Actuary and advised to the School by the Scheme Administrator. The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees' working lives with the School in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. As stated in note 21, the TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

Contribution to both schemes are charged to the statements of Financial Activities in the period to which they relate.

4. Limited by guarantee

The company is limited by guarantee and as such does not have a share capital. The liability of the members is limited to a value not exceeding £1 per member upon the winding up of the company.

5. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
School Fees	1,287,847	1,287,847	1,000,561	1,000,561
Dinners and other disbursements	112,413	112,413	124,415	124,415
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,400,260	1,400,260	1,124,976	1,124,976
	======================================	======================================	======================================	======================================

6. Other trading activities

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Swimming pool hire	–	–	16,740	16,740
		=============	=============	==========================	==========================
7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Income from investment properties	9,900	9,900	10,920	10,920
	Bank Interest receivable	70	70	321	321
		---------------------	---------------------	--------------------------	--------------------------
		9,970	9,970	11,241	11,241
		=====================	=====================	==========================	==========================

- 22 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

8. Other income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Government grant income	8,883	8,883	92,503	92,503
Other income	14,477	14,477	19,159	19,159
	`───────`	`───────`	`──────`	`──────`
	23,360	23,360	111,662	111,662
	==========================	==========================	==============================	==============================
Expenditure on charitable activities by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	1,212,051	1,199,091	1,199,091
Support costs	148,716	148,716	147,972	147,972
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,360,767	1,360,767	1,347,063	1,347,063
	======================================	======================================	======================================	======================================

9. Expenditure on charitable activities by fund type

10. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds
	directly	Support costs	2021Total fund 2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	136,940	1,348,991	1,336,026
Governance costs	–	11,776	11,776	11,037
	--------------------------------------	------------------------------	--------------------------------------	--------------------------------------
	1,212,051	148,716	1,360,767	1,347,063

====================================== ============================== ====================================== ======================================

Support costs totalling £148,716 (2020 - £147,972) have been allocated based upon a headcount in these areas. These costs include Salaries, Rent & Rates, Light & Heat, Repairs, Cleaning, Post, Telephone, Stationery, Legal & Professional and Depreciation.

11. Analysis of support costs

	Education	Total 2021	Total 2020
	£	£	£
Staff costs	104,967	104,967	104,978
Premises	21,750	21,750	21,316
General office	10,321	10,321	10,641
Governance costs	11,776	11,776	11,037
	------------------------------	------------------------------	------------------------------
	148,814	148,814	147,972
	==============================	==============================	==============================

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

	2021	2020
	£	£
Depreciation of tangible fixed assets	5,104	4,078
Operating lease rentals	23,601	20,597
	==========================	==========================
Auditors remuneration
	2021	2020
	£	£
Fees payable for the audit of the financial statements	3,035	2,950
	=====================	=====================

13. Auditors remuneration

- 23 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2021	2020
	£	£
Wages and salaries	875,506	868,641
Social security costs	69,847	69,952
Employer contributions to pension plans	104,319	111,190
	--------------------------------------	--------------------------------------
	1,049,672	1,049,783
	======================================	======================================

The average head count of employees during the year was 43 (2020: 42). The average number of full-time equivalent employees during the year is analysed as follows:

employees during the year is analysed as follows:
	2021	2020
	No.	No.
Number of admin staff	8	8
Number of teaching staff	22	22
	-------------	-------------
	30	30
	=============	=============
The number of employees whose remuneration for the year fell within the following bands, were:
	2021	2020
	No.	No.
£70,000 to £79,999	1	1
	=============	=============

The number of employees whose remuneration for the year fell within the following bands, were:

Key Management Personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel, being the head teacher and other members of the senior management team, for services provided to the charity was £183,297 (2020: £174,089).

15. Trustee remuneration and expenses

No remuneration of other benefits from employment with the charity or a related entity were received by the trustees.

No trustee expenses have been incurred (2020 - £nil).

- 24 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

16. Tangible fixed assets

	Freehold	Fixtures and
	property	fittings	Equipment	Total
	£	£	£	£
Cost
At 1 September 2020	2,600,000	98,626	33,890	2,732,516
Additions	–	3,470	1,091	4,561
Revaluations	350,000	–	–	350,000
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	2,950,000	102,096	34,981	3,087,077
	======================================	==============================	==========================	======================================
Depreciation
At 1 September 2020	–	88,453	32,439	120,892
Charge for the year	–	4,015	1,089	5,104
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	–	92,468	33,528	125,996
	======================================	==============================	==========================	======================================
Carrying amount
At 31 August 2021	2,950,000	9,628	1,453	2,961,081
	======================================	==============================	==========================	======================================
At 31 August 2020	2,600,000	10,173	1,451	2,611,624
	======================================	==============================	==========================	======================================

All the fixed assets are held to meet the charity's objectives.

The freehold land and buildings included in the accounts at a value of £3,200,000 (£250,000 classified as investment property, £2,950,000 as freehold property) are subject to a legal charge. At 31 August 2021, £2,624,238 was payable by the charity under the legal charge and is included in note 20 to the financial statements.

Tangible fixed assets held at valuation

The freehold property was formally valued on 17th January 2022 on an open market value basis of £3,200,000 by Mr D Brumfitt MRICS, a representative of Feather Smailes Scales LLP. The Trustees have reviewed the valuation of the property as at 31st August 2021 and have concluded that the valuation reflects the market value of the property at that date.

In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold
	property
	£
At 31 August 2021
Aggregate cost	1,610,829
Aggregate depreciation	(657,116)
	--------------------------------------
Carrying value	953,713
	======================================
At 31 August 2020
Aggregate cost	1,610,829
Aggregate depreciation	(624,331)
	--------------------------------------
Carrying value	986,498
	======================================

- 25 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

17. Investment property

	Investment
	properties
	£
Cost or valuation
At 1 September 2020 and 31 August 2021	250,000
	==============================
Impairment
At 1 September 2020 and 31 August 2021
Carrying amount
At 31 August 2021	250,000
	==============================
At 31 August 2020	250,000
	==============================

All investments shown above are held at valuation.

Investment properties

The freehold property was formally valued on 17[th] January 2022 on an open market value basis of £3,200,000 by Mr D Brumfitt MRICS, a representative of Feather Smailes Scales LLP. Of this, £250,000 relates to investment property that is not used in the main course of business. The Trustees have reviewed the valuation of the property as at 31st August 2021 and have concluded that the valuation reflects the market value of the property at that date.

18. Debtors

	2021	2020
	£	£
Trade debtors	26,159	11,295
Prepayments and accrued income	45,170	46,131
Other debtors	–	17,155
	--------------------------	--------------------------
	71,329	74,581
	==========================	==========================
Creditors: amounts falling due within one year
	2021	2020
	£	£
Trade creditors	43,627	22,888
Accruals and deferred income	368,955	321,805
Social security and other taxes	18,925	18,932
	------------------------------	------------------------------
	431,507	363,625
	==============================	==============================
Deferred Income
	2021	2020
	£	£
Deferred income brought forward	290,115	248,279
Deferred income released to Statement of Financial Activities	(290,115)	(248,279)
Deferred income in the year	339,668	290,115
	------------------------------	------------------------------
Deferred income carried forward	339,668	290,115
	==============================	==============================

19. Creditors: amounts falling due within one year

- 26 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

20. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Loan	2,624,238	2,624,238
Other creditors	20,197	19,197
	--------------------------------------	--------------------------------------
	2,644,435	2,643,435
	======================================	======================================

The loan is secured by a charge on the property. All loans are repayable within 5 years.

21. Pensions and other post retirement benefits

The School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £100,973 (2020: £101,674) and at the year-end £11,825 (2020 - £11,642) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers' Pensions Regulations 2010 (as amended) and The Teachers' Pension Scheme Regulations 2014 (as amended). Members contribute on a "pay as you go" basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the 'McCloud/Sargeant case'. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers' Pensions.

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal's judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court's decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal's ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses.

In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation.

Until the cost cap mechanism review is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements.

- 27 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

The School also offers a defined contribution scheme. The pension charge for the year included contributions payable in respect of defined contribution pension schemes of £8,643 (2020 - £9,516).

22. Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performancerelated conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At				At
	1 September 2020	Income	Expenditure	Revaluation	31 August 2021
	£	£	£		£
General funds	(645,553)	1,433,590	(1,360,767)	–	(572,730)
Revaluation reserve	1,260,616	–	–	350,000	1,610,616
Designated Funds	54,812	–	–	–	54,812
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	669,875	1,433,590	(1,360,767)	350,000	1,092,698
	======================================	======================================	======================================	======================================	======================================
		At			At
	1	September 2019	Income	Expenditure	31 August 2020
		£	£	£	£
General funds		(563,109)	1,264,619	(1,347,063)	(645,553)
Revaluation reserve		1,260,616	–	–	1,260,616
Designated Funds		54,812	–	–	54,812
		--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
		752,319	1,264,619	(1,347,063)	669,875
		======================================	======================================	======================================	======================================

The designated fund has been set aside by the Trustees for the provision of bursaries.

- 28 -

24. Analysis of net assets between funds

Analysis of net assets between funds
	Unrestricted	Total Funds	Total Funds
	Funds	2021	2020
	£	£	£
Tangible fixed assets	3,211,081	3,211,081	2,861,624
Current assets	526,052	526,052	451,686
Creditors greater than 1 year	(2,644,435)	(2,644,435)	(2,643,435)
	--------------------------------------	--------------------------------------	--------------------------------------
Net assets	1,092,698	1,092,698	669,875
	======================================	======================================	======================================
		Unrestricted	Total Funds
		Funds	2021
		£	£
Tangible fixed assets		3,211,081	3,211,081
Current assets		526,052	526,052
Creditors greater than 1 year		(2,644,435)	(2,644,435)
		--------------------------------------	--------------------------------------
Net assets		1,092,698	1,092,698
		======================================	======================================
		Unrestricted	Total Funds
		Funds	2020
		£	£
Tangible fixed assets		2,861,623	2,861,623
Current assets		451,687	451,687
Creditors greater than 1 year		(2,643,435)	(2,643,435)
		--------------------------------------	--------------------------------------
Net assets		669,875	669,875
		======================================	======================================

25. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

			2021	2020
			£	£
Not later than	1	year	16,306	13,374
			==========================	==========================

26. Related parties

There were no transactions with related parties during the current year.

- 29 -

COMPANY REGISTRATION NUMBER: 962198 CHARITY REGISTRATION NUMBER: 529584

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

31 August 2021

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2021

	Pages
Trustees' annual report (incorporating the director's report)	1 to 12
Independent auditor's report to the members	13 to 16
Statement of financial activities (including income and expenditure account)	17
Statement of financial position	18
Statement of cash flows	19
Notes to the financial statements	20 to 29
The following pages do not form part of the financial statements
Detailed statement of financial activities	31

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 August 2021.

Reference and administrative details
Registered charity name	The Belmont-Birklands School Trust Limited
Charity registration number	529584
Company registration number	962198
Principal office and registered	Swarcliffe Hall
office	Birstwith
	Harrogate
	HG3 2JS
The trustees
	Mr G Milne
	Mrs F E Trowell
	Dr B J Whitehead
	Mrs VJD Grafton	(Resigned 4 September 2020)
	Ms K E L Standen
	Mr G W Lowde
	Ms C Beeley	(Appointed 27 January 2021)
	Ms C Brooksbank	(Appointed 27 January 2021)
Company secretary	Mrs H Kernaghan
Auditor	Sagars Accountants Ltd
	Chartered accountants & statutory auditor
	Gresham House
	5-7 St Paul's Street
	Leeds
	LS1 2JG
Bankers	Bank of Scotland
	Quay West
	Quay Parade
	Swansea
	SA1 8AB

- 1 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

Structure, governance and management

The school is housed in a Grade II Listed Gothic building set in impressive grounds extending to some 20 acres. The building and gardens themselves are a significant educational resource and provide a perfect environment for 'Learning Outside the Classroom' and Forest School activities for all year groups (Pre-Reception – Y6) to enhance the children's health and wellbeing and promote appreciation of their rural environment.

TRUSTEES

Trustees are selected in accordance with the requirements of the school. As a board, the trustees need relevant skills and experience to enable them to advise on the educational progression of the school, the financial management of the school, and the wellbeing of all stakeholders at the school. Individually, a trustee should possess skills and experience enabling them to advise on all aspects of business. The school is open to anybody being a trustee regardless of age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership, and pregnancy and maternity.

The trustees meet at least six times per year with additional meetings, as required, to discuss any major issues as they arise. Beyond these meetings, trustees play an active part in school life, from attending key events in the school calendar, to joining pupils and staff at celebration Golden Table lunches, to participating in staff INSET days, and undertaking Learning Walks in school pertinent to their individual areas of responsibility. Sub-committees are set up to review areas and issues as the need arises.

Trustee members

The trustees who held office during the year and to the date of this report were as follows:

Mr G Milne, Chair of Governors (Retired Headteacher): Education, Recruitment, SEND
Mrs F Trowell (Lawyer): Legal Matters, Charity and Public Benefit
Dr B Whitehead (Scientist): Safeguarding and Child Protection, Marketing
Ms K Standen (Communications): Marketing and Communications
Mr G Lowde (Chartered Accountant): Finance
Mrs C Brooksbank (Chartered Physiotherapist): Special Educational Needs and Disability (Joined February 2021)

- 2 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Mrs C Beeley (Accountant): EYFS and Magic Tree Nursery (Joined February 2021)

PROFESSIONAL RELATIONSHIPS

The school is also a member of The Independent Schools Bursars Association and The Association of Governing Bodies of Independent Schools.

The Governors complete their AGBIS Governors' Compliance Checklist document during monitoring visits, ensuring the school stays compliant in all statutory areas.

- 3 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Objectives and activities

The primary object of the charity, as set out in its Memorandum and Articles of Association, is for the advancement of education.

It is our expectation and goal that Belmont Grosvenor School pupils come to enjoy and pursue learning. Whilst their wellbeing is safeguarded and cherished and their resilience is nurtured and encouraged; they will develop as effective communicators and as independent critical thinkers and decision makers; accept challenges; appreciate and respect differences and live as informed, concerned and responsible members of a global society.

We encourage children to enter into a wise and creative exploration of life, to develop the resourcefulness, resilience and self-confidence that will help them find solutions to problems and make a positive contribution to society
We ensure our pupils acquire the necessary firm foundations in literacy and numeracy and we enhance their skills and performance in imaginative, creative and physical activities both in and beyond the classroom
We stimulate their investigative minds and encourage them to develop a creative and analytical approach to learning
• We advance our pupils' scientific and technical knowledge to enable them to be original and diverse thinkers • We nurture their physical and social development, enabling them to handle both success and disappointment in a dignified and balanced way
We encourage children to value service and giving by allowing them leadership opportunities and enabling them to take part in charitable work and outreach
We foster mutual respect and compassion for each other, the wider community and the world
We seek to achieve these aims in a supportive, inclusive atmosphere.

PUBLIC BENEFIT

Fees

Bursaries and other financial assistance

During the reporting period no pupils applied for support from the bursary scheme.

A Hardship Fund is also available for existing parents/pupils of the school who are experiencing short-term financial difficulties. The school provides such financial assistance out of fee income only so the extent of help available is limited, dependent upon pupil numbers and fee levels.

During the reporting period 2 pupils benefitted from support from the Hardship Fund.

- 4 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

- 5 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Relationships and the community

We share the grounds and maintenance of our sports fields with the local junior cricket club for the mutual benefit of our pupils and their club members.

Charity support: We have continued to work alongside Harrogate-based charity, Horticap, on hugely popular wreath making workshops for pupils and parents.

Local Primary School support: The local primary school has use of our school minibuses and driver.

Holiday provision

BGS offers a holiday camp during the school holidays for BGS children. We are the only school in the area to offer an all-yearround provision.

Contribution to the local economy

- 6 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Financial performance

The principal source of income is school fees

The school made a surplus of £72,823 compared to a deficit of £82,444 in the previous year which was heavily impacted by Covid-19.

Total income increased by 13.4% (£168,971). During the year the school received Covid-19 related Government grants totalling £30,888.

Overheads increased by just 1% (£13,704) with all expenditure tightly controlled.

The Magic Tree Nursery secured the highest possible ISI inspection rating of outstanding in every category in its last inspection in late 2017, for the second inspection in a row, and continues to prosper under the leadership of Nursery Manager, Jo Henderson, who took up the post on 1st September 2019. Demand for places, often with government funding, remains very strong although parental financial constraints and strong state primaries in the local area mean this does not always convert into main school admissions.

The refurbished lodge continues to be an asset to the school, visually enhancing its surroundings and earning rental income of approximately £10,000 per annum.

RESERVES POLICY

The reserves policy is to maintain a minimum level of reserves to ensure the school can continue its current level of services having regard to possible future fluctuations in income and expenditure. At 31st August 2021 the unrestricted income funds, excluding the revaluation reserve, showed a deficit of £517,918. (2020: £590,741).

RISK MANAGEMENT

Comprehensive strategic planning, budgeting and management accounting
Established organisational structure and lines of reporting
Formal agendas and minutes of Governors’ meetings
Formal written policies
Comprehensive insurance policies
Formal risk assessments undertaken
Comprehensive Risk Register reviewed on a termly basis and/or more frequently when new risks arise or risk profiles change
Clear authorisation and approval levels
Safeguarding procedures as required by law for the protection of children.

Infection risk among staff and pupils which could impact on the school’s ability to fulfil its aims, even if only temporarily
Risk of falling revenue if pupils withdrew from school due to financial hardship brought on by the pandemic
• Potential safeguarding risks associated with the use of new online learning platforms
Detrimental effect on pupils’ academic progress and emotional wellbeing due to an extended period of remote

- 7 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

learning and absence from school.

PLANS FOR FUTURE PERIOD

Recruitment

The Magic Tree Nursery continues to be successful and the challenge continues to be retention of more of these pupils as they reach school age.

Marketing

The school maintains a high profile on social media, celebrating the achievements of our pupils both in and out of school and showcasing our unique setting.

New branding introduced last year to refresh our appearance continues to be rolled out around the school and across marketing

- 8 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

literature and has begun to appear on branded uniform items.

ISI Inspection outcomes

Strategic direction

A launch event – ‘BGS Fest’ - was planned by the leadership team and PTA to be held in September 2021 to launch the freshly articulated vision and values to the parent body.

The Head and senior teaching staff continue to review the curriculum to ensure that the education remains appropriate for our pupils’ development.

At the time of writing, we have appointed a new Head, Mr Nathan Sadler, who will join the school, along with his three children, in September 2022 from GEMS Wellington Academy in Dubai.

Investment plans

Teachers' Pension Scheme

- 9 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

COVID RESPONSE

The impact of Covid-19 on Belmont Grosvenor School

The school has engaged with parents and responded to feedback on the remote learning provision, adjusting the offering accordingly.

- 10 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

The action of the trustees in this regard put the school in as positive a position as possible for September 2020 with pupil numbers in line with expectations before the pandemic struck.

The trustees continued to monitor closely the forecast pupil numbers and the school’s cost base and set the fee increase for January 2021 ahead of the new term.

Relationships and the community

Trustees' responsibilities statement

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;

- 11 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

Sagars Accountants Ltd is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

The trustees' annual report and the strategic report were approved on 25[th] May 2022 and signed on behalf of the board of trustees by:

Mr G W Lowde Trustee

Mrs H Kernaghan Charity Secretary

- 12 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited

Year ended 31 August 2021

Opinion

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 August 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

We have nothing to report in this regard.

- 13 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited (continued)

Year ended 31 August 2021

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which 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 have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; and

Responsibilities of trustees

Auditor's responsibilities for the audit of the financial statements

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

- 14 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- 15 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

Use of our report

Susan Seaman BA, FCA, CIOT (Senior Statutory Auditor) (Senior Statutory Auditor)

For and on behalf of Sagars Accountants Ltd Chartered accountants & statutory auditor Gresham House 5-7 St Paul's Street Leeds LS1 2JG

- 16 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 August 2021

Year ended 31 August 2021
		2021		2020
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Charitable activities	5	1,400,260	1,400,260	1,124,976
Other trading activities	6	–	–	16,740
Investment income	7	9,970	9,970	11,241
Other income	8	23,360	23,360	111,662
		--------------------------------------	--------------------------------------	--------------------------------------
Total income		1,433,590	1,433,590	1,264,619
		======================================	======================================	======================================
Expenditure
Expenditure on charitable activities	9,10	1,360,767	1,360,767	1,347,063
		--------------------------------------	--------------------------------------	--------------------------------------
Total expenditure		1,360,767	1,360,767	1,347,063
		======================================	======================================	======================================
Revaluation of property for charity's own use	12	(350,000)	(350,000)	–
		--------------------------------------	--------------------------------------	--------------------------------------
Net income/(expenditure) and net movement in funds		422,823	422,823	(82,444)
		======================================	======================================	======================================
Reconciliation of funds
Total funds brought forward		669,875	669,875	752,319
		--------------------------------------	--------------------------------------	--------------------------------------
Total funds carried forward		1,092,698	1,092,698	669,875
		======================================	======================================	======================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 20 to 29 form part of these financial statements.

- 17 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Position

31 August 2021

31 August 2021
		2021		2020
	Note	£	£	£	£
Fixed assets
Tangible fixed assets	16		2,961,081		2,611,624
Investment Property	17		250,000		250,000
			--------------------------------------		--------------------------------------
			3,211,081		2,861,624
Current assets
Debtors	18	71,329		74,581
Cash at bank and in hand		886,230		740,730
		------------------------------		------------------------------
		957,559		815,311
Creditors:amounts falling due within
one year	19	431,507		363,625
		------------------------------		------------------------------
Net current assets			526,052		451,686
			--------------------------------------		--------------------------------------
Total assets less current liabilities			3,737,133		3,313,310
Creditors:amounts falling due after
more than one year	20		2,644,435		2,643,435
			--------------------------------------		--------------------------------------
Net assets			1,092,698		669,875
			======================================		======================================
Funds of the charity
Unrestricted funds:
Revaluation reserve		1,610,616		1,260,616
Other unrestricted income funds		(517,918)		(590,741)
		--------------------------------------		--------------------------------------
Total unrestricted funds		1,092,698		669,875
			------------------------------		------------------------------
Total charity funds	23		1,092,698		669,875
			==============================		==============================

These financial statements were approved by the board of trustees and authorised for issue on 25[th] May 2022, and are signed on behalf of the board by:

Mr G Lowde Trustee Company registration number: 962198 Charity registration number: 529584

The notes on pages 20 to 29 form part of these financial statements.

- 18 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 August 2021

Year ended 31 August 2021
	2021	2020
	£	£
Cash flows from operating activities
Net income/(expenditure)	72,823	(82,444)
Adjustments for:
Depreciation of tangible fixed assets	5,104	4,078
Dividends, interest and rents from investments	(9,900)	(10,920)
Other interest receivable and similar income	(70)	(321)
Interest payable and similar charges	3,537	2,197
Changes in:
Trade and other debtors	3,252	(863)
Trade and other creditors	68,882	42,415
	------------------------------	--------------------------
Cash generated from operations	143,628	(45,858)
Interest paid	(3,537)	(2,197)
Interest received	70	321
	------------------------------	--------------------------
Net cash from/(used in) operating activities	140,161	(47,734)
	==============================	==========================
Cash flows from investing activities
Dividends, interest and rents from investments	9,900	10,920
Purchase of tangible assets	(4,561)	(10,714)
	------------------------------	--------------------------
Net cash from investing activities	5,339	206
	==============================	==========================
Net increase/(decrease) in cash and cash equivalents	145,500	(47,528)
Cash and cash equivalents at beginning of year	740,730	788,258
	------------------------------	------------------------------
Cash and cash equivalents at end of year	886,230	740,730
	==============================	==============================

The notes on pages 20 to 29 form part of these financial statements.

- 19 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2021

1. General information

2. Statement of compliance

The Belmont-Birklands School Trust Limited meets the definition of a public benefit entity under FRS102.

3. Accounting policies

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

- 20 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Incoming resources

Income from charitable trading activities include school fee income due for the year, together with the sale of school meals an other disbursements.

Investment income is recognised in the accounts on a receivable basis.

Resources expended

Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts.

Charitable expenditure enables the charity to meet its charitable aims and objectives.

Operating leases

Tangible assets

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 20% Straight Line Equipment - 33.33% Straight Line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.

- 21 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Financial instruments

Pension benefits

The school participates in a multi employer defined benefit pension scheme and a defined contribution pension scheme.

Contribution to both schemes are charged to the statements of Financial Activities in the period to which they relate.

4. Limited by guarantee

The company is limited by guarantee and as such does not have a share capital. The liability of the members is limited to a value not exceeding £1 per member upon the winding up of the company.

5. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
School Fees	1,287,847	1,287,847	1,000,561	1,000,561
Dinners and other disbursements	112,413	112,413	124,415	124,415
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,400,260	1,400,260	1,124,976	1,124,976
	======================================	======================================	======================================	======================================

6. Other trading activities

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Swimming pool hire	–	–	16,740	16,740
		=============	=============	==========================	==========================
7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Income from investment properties	9,900	9,900	10,920	10,920
	Bank Interest receivable	70	70	321	321
		---------------------	---------------------	--------------------------	--------------------------
		9,970	9,970	11,241	11,241
		=====================	=====================	==========================	==========================

- 22 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

8. Other income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Government grant income	8,883	8,883	92,503	92,503
Other income	14,477	14,477	19,159	19,159
	`───────`	`───────`	`──────`	`──────`
	23,360	23,360	111,662	111,662
	==========================	==========================	==============================	==============================
Expenditure on charitable activities by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	1,212,051	1,199,091	1,199,091
Support costs	148,716	148,716	147,972	147,972
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,360,767	1,360,767	1,347,063	1,347,063
	======================================	======================================	======================================	======================================

9. Expenditure on charitable activities by fund type

10. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds
	directly	Support costs	2021Total fund 2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	136,940	1,348,991	1,336,026
Governance costs	–	11,776	11,776	11,037
	--------------------------------------	------------------------------	--------------------------------------	--------------------------------------
	1,212,051	148,716	1,360,767	1,347,063

====================================== ============================== ====================================== ======================================

11. Analysis of support costs

	Education	Total 2021	Total 2020
	£	£	£
Staff costs	104,967	104,967	104,978
Premises	21,750	21,750	21,316
General office	10,321	10,321	10,641
Governance costs	11,776	11,776	11,037
	------------------------------	------------------------------	------------------------------
	148,814	148,814	147,972
	==============================	==============================	==============================

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

	2021	2020
	£	£
Depreciation of tangible fixed assets	5,104	4,078
Operating lease rentals	23,601	20,597
	==========================	==========================
Auditors remuneration
	2021	2020
	£	£
Fees payable for the audit of the financial statements	3,035	2,950
	=====================	=====================

13. Auditors remuneration

- 23 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2021	2020
	£	£
Wages and salaries	875,506	868,641
Social security costs	69,847	69,952
Employer contributions to pension plans	104,319	111,190
	--------------------------------------	--------------------------------------
	1,049,672	1,049,783
	======================================	======================================

The average head count of employees during the year was 43 (2020: 42). The average number of full-time equivalent employees during the year is analysed as follows:

employees during the year is analysed as follows:
	2021	2020
	No.	No.
Number of admin staff	8	8
Number of teaching staff	22	22
	-------------	-------------
	30	30
	=============	=============
The number of employees whose remuneration for the year fell within the following bands, were:
	2021	2020
	No.	No.
£70,000 to £79,999	1	1
	=============	=============

The number of employees whose remuneration for the year fell within the following bands, were:

Key Management Personnel

15. Trustee remuneration and expenses

No remuneration of other benefits from employment with the charity or a related entity were received by the trustees.

No trustee expenses have been incurred (2020 - £nil).

- 24 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

16. Tangible fixed assets

	Freehold	Fixtures and
	property	fittings	Equipment	Total
	£	£	£	£
Cost
At 1 September 2020	2,600,000	98,626	33,890	2,732,516
Additions	–	3,470	1,091	4,561
Revaluations	350,000	–	–	350,000
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	2,950,000	102,096	34,981	3,087,077
	======================================	==============================	==========================	======================================
Depreciation
At 1 September 2020	–	88,453	32,439	120,892
Charge for the year	–	4,015	1,089	5,104
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	–	92,468	33,528	125,996
	======================================	==============================	==========================	======================================
Carrying amount
At 31 August 2021	2,950,000	9,628	1,453	2,961,081
	======================================	==============================	==========================	======================================
At 31 August 2020	2,600,000	10,173	1,451	2,611,624
	======================================	==============================	==========================	======================================

All the fixed assets are held to meet the charity's objectives.

Tangible fixed assets held at valuation

	Freehold
	property
	£
At 31 August 2021
Aggregate cost	1,610,829
Aggregate depreciation	(657,116)
	--------------------------------------
Carrying value	953,713
	======================================
At 31 August 2020
Aggregate cost	1,610,829
Aggregate depreciation	(624,331)
	--------------------------------------
Carrying value	986,498
	======================================

- 25 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

17. Investment property

	Investment
	properties
	£
Cost or valuation
At 1 September 2020 and 31 August 2021	250,000
	==============================
Impairment
At 1 September 2020 and 31 August 2021
Carrying amount
At 31 August 2021	250,000
	==============================
At 31 August 2020	250,000
	==============================

All investments shown above are held at valuation.

Investment properties

18. Debtors

	2021	2020
	£	£
Trade debtors	26,159	11,295
Prepayments and accrued income	45,170	46,131
Other debtors	–	17,155
	--------------------------	--------------------------
	71,329	74,581
	==========================	==========================
Creditors: amounts falling due within one year
	2021	2020
	£	£
Trade creditors	43,627	22,888
Accruals and deferred income	368,955	321,805
Social security and other taxes	18,925	18,932
	------------------------------	------------------------------
	431,507	363,625
	==============================	==============================
Deferred Income
	2021	2020
	£	£
Deferred income brought forward	290,115	248,279
Deferred income released to Statement of Financial Activities	(290,115)	(248,279)
Deferred income in the year	339,668	290,115
	------------------------------	------------------------------
Deferred income carried forward	339,668	290,115
	==============================	==============================

19. Creditors: amounts falling due within one year

- 26 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

20. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Loan	2,624,238	2,624,238
Other creditors	20,197	19,197
	--------------------------------------	--------------------------------------
	2,644,435	2,643,435
	======================================	======================================

The loan is secured by a charge on the property. All loans are repayable within 5 years.

21. Pensions and other post retirement benefits

- 27 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

The School also offers a defined contribution scheme. The pension charge for the year included contributions payable in respect of defined contribution pension schemes of £8,643 (2020 - £9,516).

22. Government grants

Government grants are recognised using the accrual model and the performance model.

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At				At
	1 September 2020	Income	Expenditure	Revaluation	31 August 2021
	£	£	£		£
General funds	(645,553)	1,433,590	(1,360,767)	–	(572,730)
Revaluation reserve	1,260,616	–	–	350,000	1,610,616
Designated Funds	54,812	–	–	–	54,812
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	669,875	1,433,590	(1,360,767)	350,000	1,092,698
	======================================	======================================	======================================	======================================	======================================
		At			At
	1	September 2019	Income	Expenditure	31 August 2020
		£	£	£	£
General funds		(563,109)	1,264,619	(1,347,063)	(645,553)
Revaluation reserve		1,260,616	–	–	1,260,616
Designated Funds		54,812	–	–	54,812
		--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
		752,319	1,264,619	(1,347,063)	669,875
		======================================	======================================	======================================	======================================

The designated fund has been set aside by the Trustees for the provision of bursaries.

- 28 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

24. Analysis of net assets between funds

Analysis of net assets between funds
	Unrestricted	Total Funds	Total Funds
	Funds	2021	2020
	£	£	£
Tangible fixed assets	3,211,081	3,211,081	2,861,624
Current assets	526,052	526,052	451,686
Creditors greater than 1 year	(2,644,435)	(2,644,435)	(2,643,435)
	--------------------------------------	--------------------------------------	--------------------------------------
Net assets	1,092,698	1,092,698	669,875
	======================================	======================================	======================================
		Unrestricted	Total Funds
		Funds	2021
		£	£
Tangible fixed assets		3,211,081	3,211,081
Current assets		526,052	526,052
Creditors greater than 1 year		(2,644,435)	(2,644,435)
		--------------------------------------	--------------------------------------
Net assets		1,092,698	1,092,698
		======================================	======================================
		Unrestricted	Total Funds
		Funds	2020
		£	£
Tangible fixed assets		2,861,623	2,861,623
Current assets		451,687	451,687
Creditors greater than 1 year		(2,643,435)	(2,643,435)
		--------------------------------------	--------------------------------------
Net assets		669,875	669,875
		======================================	======================================

25. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

			2021	2020
			£	£
Not later than	1	year	16,306	13,374
			==========================	==========================

26. Related parties

There were no transactions with related parties during the current year.

- 29 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Management Information

Year ended 31 August 2021

The following pages do not form part of the financial statements.

- 30 -

	2021	2020
	£	£
Income and endowments
Charitable activities
School Fees	1,287,847	1,000,561
Dinners and other disbursements	112,413	124,415
	--------------------------------------	--------------------------------------
	1,400,260	1,124,976
	--------------------------------------	--------------------------------------
Other trading activities
Swimming pool hire	–	16,740
	-------------	--------------------------
Investment income
Income from investment properties	9,900	10,920
Bank Interest receivable	70	321
	---------------------	--------------------------
	9,970	11,241
	---------------------	--------------------------
Other income
Other income	23,360	111,662
	--------------------------	------------------------------
	--------------------------------------	--------------------------------------
Total income	1,433,590	1,264,619
	======================================	======================================
Expenditure
Expenditure on charitable activities
Purchases	71,685	73,326
Wages and salaries	875,505	868,641
Employer's NIC	69,847	69,952
Pension costs	104,319	111,190
Operating leases	23,601	20,597
Rent, rates and insurance	53,009	50,764
Light and heat	59,017	63,417
Repairs and maintenance	37,443	38,442
Cleaning	6,809	6,239
Bad debts	2,242	11,847
Legal and professional fees	14,115	12,776
Telephone	8,911	9,287
Other office costs	25,623	28,004
Depreciation	5,104	4,078
Other interest payable and similar charges	3,537	2,197
	--------------------------------------	--------------------------------------
	1,360,767	1,347,063
	--------------------------------------	--------------------------------------
	--------------------------------------	--------------------------------------
Total expenditure	1,360,767	1,347,063
	======================================	======================================
Revaluation of property for charity's own use
Gains/(losses) on property	350,000	–
	--------------------------------------	--------------------------------------
	--------------------------------------	--------------------------------------
Net income/(expenditure)	422,823	(82,444)
	======================================	======================================

Company name: Belmont Birklands School Trust Limited Registered office: Swarcliffe Hall, Birstwith, Harrogate, HG3 2JS Charity number: 529584 (registered in England and Wales) Company registration number: 962198 (registered in England and Wales)

Governors: Mrs F E Trowell, Dr B J Whitehead, Mr G Milne, Ms K Standen and Mr G Lowde, Ms C Beeley, Ms C Brooksbank

25[th] May 2022

Sagars Accountants Ltd Chartered Accountants Gresham House 5-7 St Pauls Street Leeds LS1 2JG

Dear Sirs

Belmont Birklands School Trust Limited (“the Charity”) Accounts for the year ended 31[st] August 2021 (“the year”)

We provide this letter in connection with your audit of the financial statements of the charity for the year for the purpose of expressing an opinion as to whether the financial statements give a true and fair view of the financial position of the charity as at the year end of the results of its operations for the year in accordance with UK Generally Accepted Accounting Practice.

We confirm, to the best of our knowledge and belief, that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the following representations to you.

We acknowledge our responsibility for the fair presentation of the financial statements in accordance with UK GAAP.
We acknowledge as directors our responsibility for making accurate representations to you and for the financial statements of the charity.
We acknowledge our responsibility for the design and implementation of internal control to prevent and detect fraud and to prevent and detect error.
We confirm that we have received confirmation from each director, who was a director, at the time of the approval of the financial statements that they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that you are aware of that information and that so far as they are aware there is no relevant audit information of which you are unaware.
All accounting records and relevant information have been made available to you for the purpose of your audit.
All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records or other information provided to you. All other records and related information have been made available to you.
We have considered the adjustments in Appendix 1, proposed by you. We confirm that, in our judgement, these adjustments are appropriate given the information available to us. We further confirm that we have now made these adjustments to the financial statements.
We confirm that the financial statements are free of material misstatements, including omissions.
In the event that we publish the directors’ report, independent auditors’ report and financial statements electronically, we acknowledge our responsibility for ensuring that controls over the maintenance and integrity of the entity’s web site are adequate for this purpose.
There are no liabilities or contingent liabilities other than those disclosed in the financial statements and we have disclosed in the financial statements all guarantees that we have given to third parties.
No claims in connection with litigation have been or are expected to be received.
The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity's assets, except for those that are disclosed in the financial statements.
There have been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements other than those already disclosed or included in the financial statements. Should any material events occur which may necessitate revision of the figures in the financial statements, or inclusion in a note thereto, we will advise you accordingly.
The charity has at no time during the year any arrangement, transaction or agreement to provide credit facilities (including loans, quasi loans or credit transactions) for directors nor to guarantee or provide security for such matters, except as disclosed in the financial statements.
We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
We are not aware of any fraud or suspected fraud affecting the charity involving management, those charged with governance and employees who have a significant role in internal control or that could have a material effect on the financial statements.
We are not aware of any allegations of fraud, or suspected fraud, affecting the charity’s financial statements communicated by employees, former employees, analysts, regulators or others.
We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business.
The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of noncompliance.
We confirm that, having considered our expectations and intentions for the next twelve months and the availability of working capital, the charity is a going concern. We are unaware of any events, conditions, or related business risks beyond the period of assessment that may cast significant doubt on the charity’s ability to continue as a going concern. We have considered the impact of Covid-19 on the charity and still consider the going concern basis appropriate.
We have confirmation that the balance due to Mr P Kavanagh at the year end amounts to £2,624,238 and repayment of the loan will not be requested until January 2024.
In respect of accounting assumptions and judgements, we confirm our belief that the significant assumptions used are reasonable.
We have no plans or intentions that may materially alter the carrying value or classification of assets and liabilities reflected in the financial statements.
We confirm that in our opinion the value of the Charity’s freehold property and the residual value of the property at Swarcliffe Hall, Birstwith as at 31 August 2021 was the value in the financial statements of £3,200,000 and consequently no provision is required in these financial statements in respect of impairment of the property. Of this value, £250,000 has been included in the accounts as an investment property, being the Lodge which is rented out. The company's policy is to provide depreciation at 2% on freehold buildings but not to provide depreciation on freehold land. However as the buildings are maintained to a very high standard and revalued regularly their residual value is considered by the governors to be not less than their carrying value and therefore the actual depreciation provided in the financial statements in respect of freehold buildings is nil.
The amounts disclosed in the accounts as trustees' remuneration are correctly stated and include all amounts received from the charity or any other person. They include, where applicable, all fees, salaries, bonuses, benefits in kind, expense allowances chargeable to UK taxation and also payments to the pension scheme other

than by directors in respect of their own contributions. There are no amounts of compensation for loss of office, emoluments waived for the year, or pensions receivable other than under a constituted scheme.

Yours faithfully,

…………………. Trustee Signed on behalf of the board

Appendix 1 - Summary of adjustments made to the accounts during the audit

Profit/(Loss) per client accounts per Sage P&L Depreciation charge adjustment for the year Reallocation of EYF credit debtor balance Gain on revaluation of property Profit/(Loss) per final audited accounts	£ 72,054 (5,104) 5,873 350,000
	422,823

HM Revenue & Customs Company Tax Return 600 (2022) Version 3 for accountin9 periods starting on or after l April 2015 Your Company Tax Return If we send the company a 'Notice' to deliver a Company Tax Retym it has to comply by the filing date or we charye a penalty, even if there is no tax to pay. A return includes a Company Tax Return forrr( any supplementary pages, account% computations and any relevant information. The CT600 Guide tells you how the return must be formatted and delivered. It ci)ntains general information you may need tts deliver your return, tinks to more detailed advice and tM)x-by-tM)x guidarKe fot this fottn and the suppletnentary pages. The forms in the cr600 series set out the information we need and prov¥Je a standard fomiat for calculations. Company information Company name Belmont Birklands School Trust Ltd Company registration numbw 9 6 2 1 9 8 Tèx reference 5 3 1 8 0 0 0 8 6 5 Type of company Northern Ireland (Nl) Put an'x. in the appropriate boxes below Nl trading artivity Nl employer Speaal (ircumstances About this return This is the tsx retum for the company named abo¥e, for the period I 3Q from DD MM 35 to DD MM YVYV 0 9 2 0 2 0 0 8 2 0 2 1 Put an'x, in the appropriate boxe5 below A repaymewrt is due for ietum pewiod 45 Clairn vr relief affecting an earlier so Making move than one return for thi5 rompany nDW 55 This return contain5 estimated figures 60 Company part of a group that 15 not Small 65 Notice of di5d05abie avoidance 5therne5 Transfer pricing 70 Cornpen5ating adjustment dairned 75 Company qualifies for SME exemption CT600(2022) Version 3 Page 1 HMRC 04122

About this return - continued Accounts and comwtstiOn5 l attach accounts and cornputations for the per•)d to whith this rebJm relate5 8Q 85 l attach accounts and cornputations for a drfferent pml 90 If you are not attaching the accounts aThJ Computati( explain why Supplementsry pages enclosed Loan5 and arrangements to participatOW5 by dose companie5- f[n CT600A 95 Group and consortiurn - form Gr6 Insurance- form U6000 a)arltles and Communlty Amateui 5wJrts Clubs ICASts1- fom) Ct61N)E Tonnage tax- form CT600F Northern Ireland- form CT6LKG osfvborder royaltles- form U6(KJH Supplementary charge in resped of rin9 fence trades- f(rn CT6LKI Disclosure of Tax AvoidarKe S(htmes- form CT6LX)J Restitution tax- forni CT6Ci Researth and Development- form 6¢X)L Freeports. form (T600M Tax calculation Turnover Total tumover from trade Banks. building $CletIeS insurance companies and other financial concerns - put an'x in this box if you do r1 have a iecognised turrthe¥ and he noi made an entry in box 145 Income Trading profits Trading losses bmught forward set against tr•JirMJ Ffits Net trading wofrt5- l 55 minus LN)x 160 Bank. building 50(iety or other interesL and profft5 from non-trading loan relationships Put an'x. in 172 if the figure in t*)x 170 is net of tarrying batk a dÈfitit fiom a tster attounting pÈrM)d CT600(2022) Version 3 Page 2 HMRC 04122

Income - continued Annual PayThts not otherwise tharyed to Corporation Tax and from which Income Tax has not been deducted Non.exempt dividends or distrit¥Jtions from non-UK resident companie5 Income from which Income Tax has been ¢Yeducte Income from a woperty business Non-trading gains on intangible fixed assets Tonnage tax profits 205 Income not falknng under any other heading Chargeable gains Gross charyeable 9ains Allowable losses including losses brou9ht fowward 220 Net charyeable gains- box 210 minus t#)x 21 S Profits before deductions and reliefs L055e5 br¢ght forward against certain investnt intomt Non-trade defitlts on ltsan relationships Ondudlng inttrtst) and derivative contracts (financial instruments) brought forward set against non-trading woffts Proflts before other deductions and lIef5- net wm OF boxe5 165 to 205 and 220 Minu5 5urn of boxes 225 aThJ 230 Deductions and reliefs 240 L055e5 on unquoted Shares Management expen5e5 250 UK property business losses foi this ty previous accounting peric Caprtal allowance5 for the pure5 of manage* of the business 260 Non-trade deficits for this accounting period Irom loan iationships and tlerivative Clya(ts {finanoal instrutrths) CT600(2022) Version 3 Page 3 HMRC 04122

Deductions and Reliefs - continued Carried forward noTrtTade deficrts from loan relationships and derivative contracts (financiaL instruments) 26S Non.tradin9 losses on intsngibLe fixed assets 275 Totsl trading Losses of this or a later accounting period 20 Put an'x, in box 280 rf anv)unts farried back from later aOUntIng PeDJ5 are iwKiuded iv box 275 285 Trathn9 losses (atritd forward and dairrtd *Jaw)sitotsi wofits 290 Non.trade capital allowan 295 Total of dedudions and ets total of boxes 240 to 275. 285 and 290 Profit5 before qualifying donatiom and group relief bDx 235 minus bDx 295 305 QualIfng donations Group relief Group relief for tarried fOard losses Profits chaigeable to Corporation Tax box 300 minus boxe5 30$. 310 and 312 320 Ring ftnct proffts included Northern Ireland profits included Tax calculation Enter how much profit has to be charged and at what rate Financial Amount of wofft Rate of tax Tax year (yyyyl 330 335 340 345 350 355 360 365 370 375 380 385 390 395 405 410 415 420 425 CorFX)ration Tax- tot31 of tM)xe$ 345, 360, 375, 395. 410 arKI 425 430 Marginal reiiet for ring fence trades 435 Corporation Tax tharyeabLe - Lw)x 430 rninu5 LM)x 435 440 CT600(2022) Version 3 Page 4 HMRC 04122

Reliefs and deductions in terms of tax 445 Comrnunity Investment Tax Relief 450 Double Taxation Retief 4S5 Put an'x, in box 455 rf box 450 indudes an underlying rate reef claim 460 Put an'x, in box 460 rf box 450 includes an amount carried back from a later period Advance Corporation Tax 465 470 Total retiefs and deduction in terins of tax - total of LK>xe5 445. 450 and 46S Coronavirus support schemes and overpayments {see cr600 Guide for definitions) Coronavins Job Retention Stheme (CJR¥J rttei¥ed 472 CJR5 entitlement 473 CJR5 overpayment atrea¢Jy assessed or t401untary disdosed 474 Other coronaviyus overpayments Calculation of tax outstanding or overpaid 475 Net COTratIOn Tax liability- k>)x 440 minus i>x 470 Tax payable on loans and arrawyments to partKipators 455 Put an'x, in box 48$ rf you c(ffipleted box A70 in the suppiementsry pages cr6(rfJA 490 Controiitd Fortl9n comnIeS ICFQ tax payable 495 Bank levy payable 96 Bank Sharge payable , (FC ba{ levy knk 5wchHyE payalAe - totaof toxes 490. 495 aThJ 496 505 5upplernentary charge (ring fenre twade5) payable Tax char9eable -total of boxes 475. 480. 5(K) and 505 Income Tax deducted from gro55 income induded in wofits 520 Income Tax repayable to the cofflpany Self-assessment of tax payable before resthrtion tsx and coronawirus 5UPPOrt xherne overpayments tox 510 minus 515 CT600(2022) Version 3 Page 5 HMRC 04122

Calculation of tax outstanding or overpaid continued CorOnavin support schemes overpayment now due - totsl of boxes 471 and 474 minus tM)xes 472 473 Restitution tax Self-assessment of tax payable - total of boxes 525, 526 aThJ 527 Tax reconciLiation | 530 Research and DeveLopment credit 535 (Not <urnently USej 540 creative tax credit 545 Total of Research and De¥eloprnent credit and creatlve tax credit- total box 530 to 540 | $50 Land re[rdIatIOn tsx Credlt | s55 Life assurance company tax credrt 560 Totsl land remediation and life a55urarKe company tsx uedit total box 550 and 555 Capital allowances first.year tsx uedit 570 Surplus Rtstarth and Otvtiopmtnt credits or reative tsx credit payabLe- box $45 minus i)x $25 nd or lift aswfabKe (dI1 payaNe - total of boxe5 545 and 560 minus IN)xes 525 and 570 S0 Capital allowance5 first-yeaf tax uedit payable box 545. 560 and 565 minus b)xe$ 525. 570 and 575 Ring fence Corporation Tax included 586 Nl Corporation Tax induded 590 Rin9 fence supplementsry char9e induded 595 Tax already paid land not already rèpai¢f) 600 Tax wtstanding box $25 minu5 trx)xes 545. 560. 565 and $95 605 Tax overpaid induding surplus or payabLe credits total 5Utn of knxe5 545. 560. 565 and 595 tu5 525 CT600(2022) Version 3 Page 6 HMRC 04122

Tax reconciliation continued Group tsx refiJnd5 Surrendered to thi5 company Re5earth and Development expendtture Credits surrendered to this company Exporter information Durin9 the retum perirrtl, did the company exwt goods andlor seThites to individuals errterprises or oryanisations outside the United Kingdom IUKI? Yes- goods 618 No- neither Indicators and information 620 Franked investment incomelExempt ABGH dis¢rut 625 Number of Sl% 9roup tompanies Put an'x. in the relevant t>oxe& rf in the riod. the coryany. 630 shld have made (whether it has or not) instslment payments as a larye mmpany under the Corporation Tax Onstalment Payments) Regulalions should have made (whether it has or not) inst3lment payments as a ¥ery large company under the Corporation Tax (In5talment Payments) Regulation5 625 15 Wlthin a group payments aThangement for the per)d 640 has written dovm or sold intangible assets 645 has made cross.border royalty payments 647 Eat (t to Help Out khtmè.. reimbwstd diKounts induded a5 tsxable inwme Information about enhanced expenditure Research and Development (R&D) or creative enhanced expenditure 650 Put an'x, In box 650 If the clalm Is matle by a small or metllvm-slzed enterprise ISME]. including a SME subcontrartor to a large company 655 Put an'x, in box 655 rf the claim is made by a large company | 660 R&D enhanced expenditure | 665 Creative enhanced expenditure 670 R&D and creative enhanced expendrture total box 660 and tx)x 665 675 R&D enhanced expenditure of a SME on work 5ub(ontracted to it by a larye aKnpany 680 Vacone researth expendrtu Land remediation enhanced expenditure 685 Enter the totsl enhanced expenditurÈ CT600(2022) Version 3 Page 7 HMRC 04122

Information about capital allowances and balancing charges AILowances and charges in the calculation of trading profits and losses Capitsl allowances Balancing tharge5 Annual investment allowance 690 Machinery and plant - super.dedu(tion Machinery and plant 692 69) 694 Machinery and plant SPla1 late pool Maihinery and plant - main pool Structures and buildings Bu5ine55 prern15e5 renovation 695 700 705 720 Other allowances and charges 725 730 Capitsl allowances Disposal vau Electric char9e-points Enterprise zones Zero emi55ion5 900ds hl(leS Zero emissions Cars 723 724 736 Allowances and charges not included in the calculation of trading profits and losses Capital allnceS B*rKin9 tharyes AnnuaL investment allowance Strurtures and buildings Business premises renovation 736 740 745 Machinery and plant - super.dedu(tion Machinery and plant 742 743 744 Other allowance5 and charyes 750 759 CapitaL aLiowances DisposaL ¥alue Electric charytrpoints Enterprise zones 738 746 747 Zero emi55ion5 goods vehicles 748 749 Zero emi55boll5 cars 752 CT600(2022) Version 3 Page 8 HMRC 04122

Qualifying expenditure 760 Ma£hinery and plant on which first year allowance is daimed 765 Designated environmentaLLy friendly mathinery and plant 770 Maihinery and plant on iong-tife assets and integral features Structures and trMJiidings 772 Machinery and plant - supef.dedu(tion 773 Machinery and plant special rate allowance 775 other rnathinery and plant Losses, deficits and excess amounts Amount arising Amount Maxinyjm availalAe for surrender •$ group fflief L0$5e5 of trades (arried on wholly Or partly in the VK 780 785 Losses of trades urried on wholly outside the VK 790 Non-trade deficits un loan relatK)n5hip5 and derivative (ontracts 795 $00 UK pmperty busines5 1055es 810 Overseas prop*ty busines5 I¢e5 Losses from mis(ellaneous tran50rtions 820 825 Capital 1055es Non-trading losses on intangible fixed a55ets 830 835 Excess amounts Amount Maximum a¥aiiabie for surrender as group liEf Non-trade capital allowances Qualifying donati Management expensts 850 B55 CT600(2022) Version 3 Page 9 HMRC 04122

Northern Ireland information 856 Arnount of group retief daimed which relate5 to Nl tdITr9 losses used against rest of UKlmainstream proffts 857 rntyjnt of group reknef daimed which relates to Nl trading losses used against Nl trading yofits B58 Amount of group rebef daimod which roiatss to rest of UKlmainstrearn 1055e5 Used against Nl tsading yofits Overpayments and repayments SmaLI repayments 60 Do not repay sums of or les5. Read the oVerpaents and repaJirnts Section of the Company Tax Return Guide for specific guidance on when and how to make an entry Ir this bo Repayments for the period covered by this return a6s Repayment of Corporation Tax 870 Repayment of Income Tax 875 Payable Research and Develownent tsx credit 880 Payable Research and DeVeloprt expenditure credit 88s Payable ueative tax credit 890 P•yable land remediatlon or lrfe assuran comyny tax credit 89s Payable capital allowances first-year tax uedii Surrender of tax refund within group Including surrender5 under the In5talment Paents Regulat* 900 The foLiowing amount 15 to be surrendered Put an , in the appropriate boxe5 below the joint Notice 15 attathed 9DS or will follow 910 915 Please stop repayment of the foiLtyAing amount until we send you the Notice CT600(2022) Version 3 Page 10 HMRC 04122

Bank details (for a person to whom a repayment is to be made) 920 Name of bank or buildiThJ society 925 Branch sort code 930 A0t number 9J5 Name of account 940 Building society reference Payments to a person other than the company 945 Complete the authority below if you want the to be made to a peNn other than the company I, a5 (enter status- lor exarnF4e. (ompany sKretary. tspasurer. Iwhlator or authortsed agentl 950 gf (enter cornpany name) Y55 authorise leThter narnel 950 of addrtts (enter address) 965 ominee reference to receive payment on compan$ behalf 970 Name Declaration Declaration I declare that the inforrnation I have giyEn on this C¢MpayTax Retum and any suppletTrpntary page5 is correct and cotnplete to the best of my knowledge and belief. l understand that gwing false information in the return. or concea"ng any part of the CoMpanS profits or tax payable. can lead to LK)th the cotnpaTry and tne bw'tYJ oSe£uted. | 975 Name MR G LOWOE | 980 Date DD MM YYVY 965 Status Trustee CT600(2022) Version 3 Page 11 HMRC 04122

HM Revenue &Customs Company Tax Return - supplementary page Charities and Community Amateur Sports Clubs (CASCs} 600E (2015) Version 3 for accounting periods starting on or after l April 2015 Guidance Guidance about when and how to complete this supplementary page (an be found in the 600 Guide. For further infortnation read Wh3t 5upplefflentaryp3ge5 do I ed to cofflplete indude a5 part of the Company Tax Retum. trj find out what supplementary pages you need to complete. Also. read the 1fflrtantpthnts alx)ut all supplementèryp3ges arml CT6(KJE- c1)arit and CommunityAmateur sports Clubs (C45CsJ for further guidan about completing ihis wpplernentary page. Company information Ei Company narne (name of charity or CASC) The Belmont-Birklands School Trust Limted E2 Tax reference 5 3 1 8 0 0 0 8 6 5 Period covtred by this suppiemtt*ary pa9e (cannot exceed 12 monts) E3 from DD 0 9 2 0 2 0 E4 to DD hlm YYYY 0 8 2 0 2 1 Claims to exemption Ithis Secti sh¢)uld be completed in 411 cases) tharitylCASC repayment reference E5 Charity Commission registration number, or OSCR number (If applicable) EIO 529584 Put an'x. in the relevant box rf durin9 the period covered by these Supplementary pa9e5.' The company was a chartylCASC and is ciaimw •xemption from all tax on ali or part of its income and gains (Atso ptst an X'in box E15 ilihe comp3ny was a charitylC45C but had no in(L Lygains in Itr1) E15 X Ail income and gains art exempt from tsx and hèvt been. or wilL be. applied for charitable or qualifyin9 purpgses only E20 X Some of the income and 9ains may not be exempt or hwe not been applied for charitable or qUalifThJ puwposes only. nd I have cornpieted f(Krn E2S I claim exemption from ta¥ Name ESO MR G LOWDE Status EJ5 Trustee Date DD MM CT600E(2015) Version 3 Page 1 HMRC 04115

Repayments To make a repayrnent claim for the peliod covered by these gjpplementsry pages Flea5e register aThJ enrol to Use the Charities Online sÈr¥ite. SÈÈ cr6C¥J 9uide for further infomiatio Put an'x, in the box rf during the period coveted bythe5e suppleme page5 you have over daimed ta E45 Information required Enter detai15 of any income received from the foilowrng 50urce5. daimed a5 exempt from tax in the hands of the charity/CASC. Enter the fi9ure included in the tharityslCA5CS accounts for the period covered by this return. Non.exempt amounts should be entered on foTh CT6th) in the appropriate boxe Type of income Enter totsl tumover from exempt thawitable trading artivities ESO E 1 4 0 0 2 6 0 Investment income- exlude any amounts Ilded on foim Cf600 E55 9 9 7 0 UK land and builtJiThJs- exclude any amounts included on form cr6(Kl E60 E 3 5 0 0 0 o Gift Aid- •xcLude any amounts included on fom CT6(rf) E65 E From other charities- exclud• any aMots induded on form CT6(K) Gifts of shares or securities received E75 Gifts of real property received other sources (not in¢ludtd above) E85 E 2 3 3 6 0 Total of boxes E50 to E85 1 7 8 3 5 9 0 Enter detsiis of expenditure as shown in the dwityslCASCs accounts for the co¥ered by these supplementary pages Type of expenditure Tradin9 costs in relation to exempt charitabLe xtivitses (In box E501 E55 E 1 3 6 0 7 6 7 UK land and buildings costs in lat]n to exempt charitable activities Cin box E60) Eifyj E Ail general administration/govemance costs E105 E Ail grants aThJ donation5 rnade within the UK E110 E AiL grants and donations made outside thè UK El15 E other expenditure not included abo¥e, or not Used in calculating figures entered on the form 6(• EIZO E Total of boxes E95 to El ZO E125 E 1 3 6 0 7 6 7 CT600E(2015) Version 3 Page 2 HMRC 04115

Information required Charity/CASC aets Disposals in period (total considwation te¢ett) Held at the end of the period (use (OUnts figuie51 Tangible fixed assets E130 35 3 2 1 1 0 8 1 UK investments {excluding rbtrolled companies) E140 E145 £ Shares in, and loans to, controlled companies E150 EISS Overseas Investments E160 E16$ £ Loans and non.trade debtor5 E170 £ Other current assets E17S 9 5 7 5 5 9 Oualifying investments and Loan5 Applies to Charit$ only. See cr600 Gu EIWJ Value of any non-qualifying inve5trnents and loans Applie5 to charities only. See CT600 Guide El65 Number of subsidiary or a$slated companies the charity controls at the end of the period. Exclude companR5 that were donnant throughout the period EIWJ CT600E(2015) Version 3 Page 3 HMRC 04115

COMPANY REGISTRATION NUMBER: 962198 CHARITY REGISTRATION NUMBER: 529584

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

31 August 2021

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2021

	Pages
Trustees' annual report (incorporating the director's report)	1 to 12
Independent auditor's report to the members	13 to 16
Statement of financial activities (including income and expenditure account)	17
Statement of financial position	18
Statement of cash flows	19
Notes to the financial statements	20 to 29

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 August 2021.

Reference and administrative details
Registered charity name	The Belmont-Birklands School Trust Limited
Charity registration number	529584
Company registration number	962198
Principal office and registered	Swarcliffe Hall
office	Birstwith
	Harrogate
	HG3 2JS
The trustees
	Mr G Milne
	Mrs F E Trowell
	Dr B J Whitehead
	Mrs VJD Grafton	(Resigned 4 September 2020)
	Ms K E L Standen
	Mr G W Lowde
	Ms C Beeley	(Appointed 27 January 2021)
	Ms C Brooksbank	(Appointed 27 January 2021)
Company secretary	Mrs H Kernaghan
Auditor	Sagars Accountants Ltd
	Chartered accountants & statutory auditor
	Gresham House
	5-7 St Paul's Street
	Leeds
	LS1 2JG
Bankers	Bank of Scotland
	Quay West
	Quay Parade
	Swansea
	SA1 8AB

- 1 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

Structure, governance and management

The school is housed in a Grade II Listed Gothic building set in impressive grounds extending to some 20 acres. The building and gardens themselves are a significant educational resource and provide a perfect environment for 'Learning Outside the Classroom' and Forest School activities for all year groups (Pre-Reception – Y6) to enhance the children's health and wellbeing and promote appreciation of their rural environment.

TRUSTEES

Trustees are selected in accordance with the requirements of the school. As a board, the trustees need relevant skills and experience to enable them to advise on the educational progression of the school, the financial management of the school, and the wellbeing of all stakeholders at the school. Individually, a trustee should possess skills and experience enabling them to advise on all aspects of business. The school is open to anybody being a trustee regardless of age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership, and pregnancy and maternity.

The trustees meet at least six times per year with additional meetings, as required, to discuss any major issues as they arise. Beyond these meetings, trustees play an active part in school life, from attending key events in the school calendar, to joining pupils and staff at celebration Golden Table lunches, to participating in staff INSET days, and undertaking Learning Walks in school pertinent to their individual areas of responsibility. Sub-committees are set up to review areas and issues as the need arises.

Trustee members

The trustees who held office during the year and to the date of this report were as follows:

Mr G Milne, Chair of Governors (Retired Headteacher): Education, Recruitment, SEND
Mrs F Trowell (Lawyer): Legal Matters, Charity and Public Benefit
Dr B Whitehead (Scientist): Safeguarding and Child Protection, Marketing
Ms K Standen (Communications): Marketing and Communications
Mr G Lowde (Chartered Accountant): Finance
Mrs C Brooksbank (Chartered Physiotherapist): Special Educational Needs and Disability (Joined February 2021)

- 2 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Mrs C Beeley (Accountant): EYFS and Magic Tree Nursery (Joined February 2021)

PROFESSIONAL RELATIONSHIPS

The school is also a member of The Independent Schools Bursars Association and The Association of Governing Bodies of Independent Schools.

The Governors complete their AGBIS Governors' Compliance Checklist document during monitoring visits, ensuring the school stays compliant in all statutory areas.

- 3 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Objectives and activities

The primary object of the charity, as set out in its Memorandum and Articles of Association, is for the advancement of education.

It is our expectation and goal that Belmont Grosvenor School pupils come to enjoy and pursue learning. Whilst their wellbeing is safeguarded and cherished and their resilience is nurtured and encouraged; they will develop as effective communicators and as independent critical thinkers and decision makers; accept challenges; appreciate and respect differences and live as informed, concerned and responsible members of a global society.

We encourage children to enter into a wise and creative exploration of life, to develop the resourcefulness, resilience and self-confidence that will help them find solutions to problems and make a positive contribution to society
We ensure our pupils acquire the necessary firm foundations in literacy and numeracy and we enhance their skills and performance in imaginative, creative and physical activities both in and beyond the classroom
We stimulate their investigative minds and encourage them to develop a creative and analytical approach to learning
• We advance our pupils' scientific and technical knowledge to enable them to be original and diverse thinkers • We nurture their physical and social development, enabling them to handle both success and disappointment in a dignified and balanced way
We encourage children to value service and giving by allowing them leadership opportunities and enabling them to take part in charitable work and outreach
We foster mutual respect and compassion for each other, the wider community and the world
We seek to achieve these aims in a supportive, inclusive atmosphere.

PUBLIC BENEFIT

Fees

Bursaries and other financial assistance

During the reporting period no pupils applied for support from the bursary scheme.

A Hardship Fund is also available for existing parents/pupils of the school who are experiencing short-term financial difficulties. The school provides such financial assistance out of fee income only so the extent of help available is limited, dependent upon pupil numbers and fee levels.

During the reporting period 2 pupils benefitted from support from the Hardship Fund.

- 4 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

- 5 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Relationships and the community

We share the grounds and maintenance of our sports fields with the local junior cricket club for the mutual benefit of our pupils and their club members.

Charity support: We have continued to work alongside Harrogate-based charity, Horticap, on hugely popular wreath making workshops for pupils and parents.

Local Primary School support: The local primary school has use of our school minibuses and driver.

Holiday provision

BGS offers a holiday camp during the school holidays for BGS children. We are the only school in the area to offer an all-yearround provision.

Contribution to the local economy

- 6 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Financial performance

The principal source of income is school fees

The school made a surplus of £72,823 compared to a deficit of £82,444 in the previous year which was heavily impacted by Covid-19.

Total income increased by 13.4% (£168,971). During the year the school received Covid-19 related Government grants totalling £30,888.

Overheads increased by just 1% (£13,704) with all expenditure tightly controlled.

The Magic Tree Nursery secured the highest possible ISI inspection rating of outstanding in every category in its last inspection in late 2017, for the second inspection in a row, and continues to prosper under the leadership of Nursery Manager, Jo Henderson, who took up the post on 1st September 2019. Demand for places, often with government funding, remains very strong although parental financial constraints and strong state primaries in the local area mean this does not always convert into main school admissions.

The refurbished lodge continues to be an asset to the school, visually enhancing its surroundings and earning rental income of approximately £10,000 per annum.

RESERVES POLICY

The reserves policy is to maintain a minimum level of reserves to ensure the school can continue its current level of services having regard to possible future fluctuations in income and expenditure. At 31st August 2021 the unrestricted income funds, excluding the revaluation reserve, showed a deficit of £517,918. (2020: £590,741).

RISK MANAGEMENT

Comprehensive strategic planning, budgeting and management accounting
Established organisational structure and lines of reporting
Formal agendas and minutes of Governors’ meetings
Formal written policies
Comprehensive insurance policies
Formal risk assessments undertaken
Comprehensive Risk Register reviewed on a termly basis and/or more frequently when new risks arise or risk profiles change
Clear authorisation and approval levels
Safeguarding procedures as required by law for the protection of children.

Infection risk among staff and pupils which could impact on the school’s ability to fulfil its aims, even if only temporarily
Risk of falling revenue if pupils withdrew from school due to financial hardship brought on by the pandemic
• Potential safeguarding risks associated with the use of new online learning platforms
Detrimental effect on pupils’ academic progress and emotional wellbeing due to an extended period of remote

- 7 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

learning and absence from school.

PLANS FOR FUTURE PERIOD

Recruitment

The Magic Tree Nursery continues to be successful and the challenge continues to be retention of more of these pupils as they reach school age.

Marketing

The school maintains a high profile on social media, celebrating the achievements of our pupils both in and out of school and showcasing our unique setting.

New branding introduced last year to refresh our appearance continues to be rolled out around the school and across marketing

- 8 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

literature and has begun to appear on branded uniform items.

ISI Inspection outcomes

Strategic direction

A launch event – ‘BGS Fest’ - was planned by the leadership team and PTA to be held in September 2021 to launch the freshly articulated vision and values to the parent body.

The Head and senior teaching staff continue to review the curriculum to ensure that the education remains appropriate for our pupils’ development.

At the time of writing, we have appointed a new Head, Mr Nathan Sadler, who will join the school, along with his three children, in September 2022 from GEMS Wellington Academy in Dubai.

Investment plans

Teachers' Pension Scheme

- 9 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

COVID RESPONSE

The impact of Covid-19 on Belmont Grosvenor School

The school has engaged with parents and responded to feedback on the remote learning provision, adjusting the offering accordingly.

- 10 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

The action of the trustees in this regard put the school in as positive a position as possible for September 2020 with pupil numbers in line with expectations before the pandemic struck.

The trustees continued to monitor closely the forecast pupil numbers and the school’s cost base and set the fee increase for January 2021 ahead of the new term.

Relationships and the community

Trustees' responsibilities statement

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;

- 11 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

Sagars Accountants Ltd is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

The trustees' annual report and the strategic report were approved on 25[th] May 2022 and signed on behalf of the board of trustees by:

Mr G W Lowde Trustee

Mrs H Kernaghan Charity Secretary

- 12 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited

Year ended 31 August 2021

Opinion

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 August 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

We have nothing to report in this regard.

- 13 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited (continued)

Year ended 31 August 2021

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which 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 have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; and

Responsibilities of trustees

Auditor's responsibilities for the audit of the financial statements

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

- 14 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- 15 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

Use of our report

Susan Seaman BA, FCA, CIOT (Senior Statutory Auditor) (Senior Statutory Auditor)

For and on behalf of Sagars Accountants Ltd Chartered accountants & statutory auditor Gresham House 5-7 St Paul's Street Leeds LS1 2JG

- 16 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 August 2021

Year ended 31 August 2021
		2021		2020
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Charitable activities	5	1,400,260	1,400,260	1,124,976
Other trading activities	6	–	–	16,740
Investment income	7	9,970	9,970	11,241
Other income	8	23,360	23,360	111,662
		--------------------------------------	--------------------------------------	--------------------------------------
Total income		1,433,590	1,433,590	1,264,619
		======================================	======================================	======================================
Expenditure
Expenditure on charitable activities	9,10	1,360,767	1,360,767	1,347,063
		--------------------------------------	--------------------------------------	--------------------------------------
Total expenditure		1,360,767	1,360,767	1,347,063
		======================================	======================================	======================================
Revaluation of property for charity's own use	12	(350,000)	(350,000)	–
		--------------------------------------	--------------------------------------	--------------------------------------
Net income/(expenditure) and net movement in funds		422,823	422,823	(82,444)
		======================================	======================================	======================================
Reconciliation of funds
Total funds brought forward		669,875	669,875	752,319
		--------------------------------------	--------------------------------------	--------------------------------------
Total funds carried forward		1,092,698	1,092,698	669,875
		======================================	======================================	======================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 20 to 29 form part of these financial statements.

- 17 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Position

31 August 2021

31 August 2021
		2021		2020
	Note	£	£	£	£
Fixed assets
Tangible fixed assets	16		2,961,081		2,611,624
Investment Property	17		250,000		250,000
			--------------------------------------		--------------------------------------
			3,211,081		2,861,624
Current assets
Debtors	18	71,329		74,581
Cash at bank and in hand		886,230		740,730
		------------------------------		------------------------------
		957,559		815,311
Creditors:amounts falling due within
one year	19	431,507		363,625
		------------------------------		------------------------------
Net current assets			526,052		451,686
			--------------------------------------		--------------------------------------
Total assets less current liabilities			3,737,133		3,313,310
Creditors:amounts falling due after
more than one year	20		2,644,435		2,643,435
			--------------------------------------		--------------------------------------
Net assets			1,092,698		669,875
			======================================		======================================
Funds of the charity
Unrestricted funds:
Revaluation reserve		1,610,616		1,260,616
Other unrestricted income funds		(517,918)		(590,741)
		--------------------------------------		--------------------------------------
Total unrestricted funds		1,092,698		669,875
			------------------------------		------------------------------
Total charity funds	23		1,092,698		669,875
			==============================		==============================

These financial statements were approved by the board of trustees and authorised for issue on 25[th] May 2022, and are signed on behalf of the board by:

Mr G Lowde Trustee Company registration number: 962198 Charity registration number: 529584

The notes on pages 20 to 29 form part of these financial statements.

- 18 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 August 2021

Year ended 31 August 2021
	2021	2020
	£	£
Cash flows from operating activities
Net income/(expenditure)	72,823	(82,444)
Adjustments for:
Depreciation of tangible fixed assets	5,104	4,078
Dividends, interest and rents from investments	(9,900)	(10,920)
Other interest receivable and similar income	(70)	(321)
Interest payable and similar charges	3,537	2,197
Changes in:
Trade and other debtors	3,252	(863)
Trade and other creditors	68,882	42,415
	------------------------------	--------------------------
Cash generated from operations	143,628	(45,858)
Interest paid	(3,537)	(2,197)
Interest received	70	321
	------------------------------	--------------------------
Net cash from/(used in) operating activities	140,161	(47,734)
	==============================	==========================
Cash flows from investing activities
Dividends, interest and rents from investments	9,900	10,920
Purchase of tangible assets	(4,561)	(10,714)
	------------------------------	--------------------------
Net cash from investing activities	5,339	206
	==============================	==========================
Net increase/(decrease) in cash and cash equivalents	145,500	(47,528)
Cash and cash equivalents at beginning of year	740,730	788,258
	------------------------------	------------------------------
Cash and cash equivalents at end of year	886,230	740,730
	==============================	==============================

The notes on pages 20 to 29 form part of these financial statements.

- 19 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2021

1. General information

2. Statement of compliance

The Belmont-Birklands School Trust Limited meets the definition of a public benefit entity under FRS102.

3. Accounting policies

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

- 20 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Incoming resources

Income from charitable trading activities include school fee income due for the year, together with the sale of school meals an other disbursements.

Investment income is recognised in the accounts on a receivable basis.

Resources expended

Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts.

Charitable expenditure enables the charity to meet its charitable aims and objectives.

Operating leases

Tangible assets

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 20% Straight Line Equipment - 33.33% Straight Line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.

- 21 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Financial instruments

Pension benefits

The school participates in a multi employer defined benefit pension scheme and a defined contribution pension scheme.

Contribution to both schemes are charged to the statements of Financial Activities in the period to which they relate.

4. Limited by guarantee

The company is limited by guarantee and as such does not have a share capital. The liability of the members is limited to a value not exceeding £1 per member upon the winding up of the company.

5. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
School Fees	1,287,847	1,287,847	1,000,561	1,000,561
Dinners and other disbursements	112,413	112,413	124,415	124,415
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,400,260	1,400,260	1,124,976	1,124,976
	======================================	======================================	======================================	======================================

6. Other trading activities

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Swimming pool hire	–	–	16,740	16,740
		=============	=============	==========================	==========================
7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Income from investment properties	9,900	9,900	10,920	10,920
	Bank Interest receivable	70	70	321	321
		---------------------	---------------------	--------------------------	--------------------------
		9,970	9,970	11,241	11,241
		=====================	=====================	==========================	==========================

- 22 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

8. Other income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Government grant income	8,883	8,883	92,503	92,503
Other income	14,477	14,477	19,159	19,159
	`───────`	`───────`	`──────`	`──────`
	23,360	23,360	111,662	111,662
	==========================	==========================	==============================	==============================
Expenditure on charitable activities by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	1,212,051	1,199,091	1,199,091
Support costs	148,716	148,716	147,972	147,972
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,360,767	1,360,767	1,347,063	1,347,063
	======================================	======================================	======================================	======================================

9. Expenditure on charitable activities by fund type

10. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds
	directly	Support costs	2021Total fund 2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	136,940	1,348,991	1,336,026
Governance costs	–	11,776	11,776	11,037
	--------------------------------------	------------------------------	--------------------------------------	--------------------------------------
	1,212,051	148,716	1,360,767	1,347,063

====================================== ============================== ====================================== ======================================

11. Analysis of support costs

	Education	Total 2021	Total 2020
	£	£	£
Staff costs	104,967	104,967	104,978
Premises	21,750	21,750	21,316
General office	10,321	10,321	10,641
Governance costs	11,776	11,776	11,037
	------------------------------	------------------------------	------------------------------
	148,814	148,814	147,972
	==============================	==============================	==============================

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

	2021	2020
	£	£
Depreciation of tangible fixed assets	5,104	4,078
Operating lease rentals	23,601	20,597
	==========================	==========================
Auditors remuneration
	2021	2020
	£	£
Fees payable for the audit of the financial statements	3,035	2,950
	=====================	=====================

13. Auditors remuneration

- 23 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2021	2020
	£	£
Wages and salaries	875,506	868,641
Social security costs	69,847	69,952
Employer contributions to pension plans	104,319	111,190
	--------------------------------------	--------------------------------------
	1,049,672	1,049,783
	======================================	======================================

The average head count of employees during the year was 43 (2020: 42). The average number of full-time equivalent employees during the year is analysed as follows:

employees during the year is analysed as follows:
	2021	2020
	No.	No.
Number of admin staff	8	8
Number of teaching staff	22	22
	-------------	-------------
	30	30
	=============	=============
The number of employees whose remuneration for the year fell within the following bands, were:
	2021	2020
	No.	No.
£70,000 to £79,999	1	1
	=============	=============

The number of employees whose remuneration for the year fell within the following bands, were:

Key Management Personnel

15. Trustee remuneration and expenses

No remuneration of other benefits from employment with the charity or a related entity were received by the trustees.

No trustee expenses have been incurred (2020 - £nil).

- 24 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

16. Tangible fixed assets

	Freehold	Fixtures and
	property	fittings	Equipment	Total
	£	£	£	£
Cost
At 1 September 2020	2,600,000	98,626	33,890	2,732,516
Additions	–	3,470	1,091	4,561
Revaluations	350,000	–	–	350,000
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	2,950,000	102,096	34,981	3,087,077
	======================================	==============================	==========================	======================================
Depreciation
At 1 September 2020	–	88,453	32,439	120,892
Charge for the year	–	4,015	1,089	5,104
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	–	92,468	33,528	125,996
	======================================	==============================	==========================	======================================
Carrying amount
At 31 August 2021	2,950,000	9,628	1,453	2,961,081
	======================================	==============================	==========================	======================================
At 31 August 2020	2,600,000	10,173	1,451	2,611,624
	======================================	==============================	==========================	======================================

All the fixed assets are held to meet the charity's objectives.

Tangible fixed assets held at valuation

	Freehold
	property
	£
At 31 August 2021
Aggregate cost	1,610,829
Aggregate depreciation	(657,116)
	--------------------------------------
Carrying value	953,713
	======================================
At 31 August 2020
Aggregate cost	1,610,829
Aggregate depreciation	(624,331)
	--------------------------------------
Carrying value	986,498
	======================================

- 25 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

17. Investment property

	Investment
	properties
	£
Cost or valuation
At 1 September 2020 and 31 August 2021	250,000
	==============================
Impairment
At 1 September 2020 and 31 August 2021
Carrying amount
At 31 August 2021	250,000
	==============================
At 31 August 2020	250,000
	==============================

All investments shown above are held at valuation.

Investment properties

18. Debtors

	2021	2020
	£	£
Trade debtors	26,159	11,295
Prepayments and accrued income	45,170	46,131
Other debtors	–	17,155
	--------------------------	--------------------------
	71,329	74,581
	==========================	==========================
Creditors: amounts falling due within one year
	2021	2020
	£	£
Trade creditors	43,627	22,888
Accruals and deferred income	368,955	321,805
Social security and other taxes	18,925	18,932
	------------------------------	------------------------------
	431,507	363,625
	==============================	==============================
Deferred Income
	2021	2020
	£	£
Deferred income brought forward	290,115	248,279
Deferred income released to Statement of Financial Activities	(290,115)	(248,279)
Deferred income in the year	339,668	290,115
	------------------------------	------------------------------
Deferred income carried forward	339,668	290,115
	==============================	==============================

19. Creditors: amounts falling due within one year

- 26 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

20. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Loan	2,624,238	2,624,238
Other creditors	20,197	19,197
	--------------------------------------	--------------------------------------
	2,644,435	2,643,435
	======================================	======================================

The loan is secured by a charge on the property. All loans are repayable within 5 years.

21. Pensions and other post retirement benefits

- 27 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

The School also offers a defined contribution scheme. The pension charge for the year included contributions payable in respect of defined contribution pension schemes of £8,643 (2020 - £9,516).

22. Government grants

Government grants are recognised using the accrual model and the performance model.

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At				At
	1 September 2020	Income	Expenditure	Revaluation	31 August 2021
	£	£	£		£
General funds	(645,553)	1,433,590	(1,360,767)	–	(572,730)
Revaluation reserve	1,260,616	–	–	350,000	1,610,616
Designated Funds	54,812	–	–	–	54,812
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	669,875	1,433,590	(1,360,767)	350,000	1,092,698
	======================================	======================================	======================================	======================================	======================================
		At			At
	1	September 2019	Income	Expenditure	31 August 2020
		£	£	£	£
General funds		(563,109)	1,264,619	(1,347,063)	(645,553)
Revaluation reserve		1,260,616	–	–	1,260,616
Designated Funds		54,812	–	–	54,812
		--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
		752,319	1,264,619	(1,347,063)	669,875
		======================================	======================================	======================================	======================================

The designated fund has been set aside by the Trustees for the provision of bursaries.

- 28 -

24. Analysis of net assets between funds

Analysis of net assets between funds
	Unrestricted	Total Funds	Total Funds
	Funds	2021	2020
	£	£	£
Tangible fixed assets	3,211,081	3,211,081	2,861,624
Current assets	526,052	526,052	451,686
Creditors greater than 1 year	(2,644,435)	(2,644,435)	(2,643,435)
	--------------------------------------	--------------------------------------	--------------------------------------
Net assets	1,092,698	1,092,698	669,875
	======================================	======================================	======================================
		Unrestricted	Total Funds
		Funds	2021
		£	£
Tangible fixed assets		3,211,081	3,211,081
Current assets		526,052	526,052
Creditors greater than 1 year		(2,644,435)	(2,644,435)
		--------------------------------------	--------------------------------------
Net assets		1,092,698	1,092,698
		======================================	======================================
		Unrestricted	Total Funds
		Funds	2020
		£	£
Tangible fixed assets		2,861,623	2,861,623
Current assets		451,687	451,687
Creditors greater than 1 year		(2,643,435)	(2,643,435)
		--------------------------------------	--------------------------------------
Net assets		669,875	669,875
		======================================	======================================

25. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

			2021	2020
			£	£
Not later than	1	year	16,306	13,374
			==========================	==========================

26. Related parties

There were no transactions with related parties during the current year.

- 29 -

COMPANY REGISTRATION NUMBER: 962198 CHARITY REGISTRATION NUMBER: 529584

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

31 August 2021

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2021

	Pages
Trustees' annual report (incorporating the director's report)	1 to 12
Independent auditor's report to the members	13 to 16
Statement of financial activities (including income and expenditure account)	17
Statement of financial position	18
Statement of cash flows	19
Notes to the financial statements	20 to 29
The following pages do not form part of the financial statements
Detailed statement of financial activities	31

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 August 2021.

Reference and administrative details
Registered charity name	The Belmont-Birklands School Trust Limited
Charity registration number	529584
Company registration number	962198
Principal office and registered	Swarcliffe Hall
office	Birstwith
	Harrogate
	HG3 2JS
The trustees
	Mr G Milne
	Mrs F E Trowell
	Dr B J Whitehead
	Mrs VJD Grafton	(Resigned 4 September 2020)
	Ms K E L Standen
	Mr G W Lowde
	Ms C Beeley	(Appointed 27 January 2021)
	Ms C Brooksbank	(Appointed 27 January 2021)
Company secretary	Mrs H Kernaghan
Auditor	Sagars Accountants Ltd
	Chartered accountants & statutory auditor
	Gresham House
	5-7 St Paul's Street
	Leeds
	LS1 2JG
Bankers	Bank of Scotland
	Quay West
	Quay Parade
	Swansea
	SA1 8AB

- 1 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

Structure, governance and management

The school is housed in a Grade II Listed Gothic building set in impressive grounds extending to some 20 acres. The building and gardens themselves are a significant educational resource and provide a perfect environment for 'Learning Outside the Classroom' and Forest School activities for all year groups (Pre-Reception – Y6) to enhance the children's health and wellbeing and promote appreciation of their rural environment.

TRUSTEES

Trustees are selected in accordance with the requirements of the school. As a board, the trustees need relevant skills and experience to enable them to advise on the educational progression of the school, the financial management of the school, and the wellbeing of all stakeholders at the school. Individually, a trustee should possess skills and experience enabling them to advise on all aspects of business. The school is open to anybody being a trustee regardless of age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership, and pregnancy and maternity.

The trustees meet at least six times per year with additional meetings, as required, to discuss any major issues as they arise. Beyond these meetings, trustees play an active part in school life, from attending key events in the school calendar, to joining pupils and staff at celebration Golden Table lunches, to participating in staff INSET days, and undertaking Learning Walks in school pertinent to their individual areas of responsibility. Sub-committees are set up to review areas and issues as the need arises.

Trustee members

The trustees who held office during the year and to the date of this report were as follows:

Mr G Milne, Chair of Governors (Retired Headteacher): Education, Recruitment, SEND
Mrs F Trowell (Lawyer): Legal Matters, Charity and Public Benefit
Dr B Whitehead (Scientist): Safeguarding and Child Protection, Marketing
Ms K Standen (Communications): Marketing and Communications
Mr G Lowde (Chartered Accountant): Finance
Mrs C Brooksbank (Chartered Physiotherapist): Special Educational Needs and Disability (Joined February 2021)

- 2 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Mrs C Beeley (Accountant): EYFS and Magic Tree Nursery (Joined February 2021)

PROFESSIONAL RELATIONSHIPS

The school is also a member of The Independent Schools Bursars Association and The Association of Governing Bodies of Independent Schools.

The Governors complete their AGBIS Governors' Compliance Checklist document during monitoring visits, ensuring the school stays compliant in all statutory areas.

- 3 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Objectives and activities

The primary object of the charity, as set out in its Memorandum and Articles of Association, is for the advancement of education.

It is our expectation and goal that Belmont Grosvenor School pupils come to enjoy and pursue learning. Whilst their wellbeing is safeguarded and cherished and their resilience is nurtured and encouraged; they will develop as effective communicators and as independent critical thinkers and decision makers; accept challenges; appreciate and respect differences and live as informed, concerned and responsible members of a global society.

We encourage children to enter into a wise and creative exploration of life, to develop the resourcefulness, resilience and self-confidence that will help them find solutions to problems and make a positive contribution to society
We ensure our pupils acquire the necessary firm foundations in literacy and numeracy and we enhance their skills and performance in imaginative, creative and physical activities both in and beyond the classroom
We stimulate their investigative minds and encourage them to develop a creative and analytical approach to learning
• We advance our pupils' scientific and technical knowledge to enable them to be original and diverse thinkers • We nurture their physical and social development, enabling them to handle both success and disappointment in a dignified and balanced way
We encourage children to value service and giving by allowing them leadership opportunities and enabling them to take part in charitable work and outreach
We foster mutual respect and compassion for each other, the wider community and the world
We seek to achieve these aims in a supportive, inclusive atmosphere.

PUBLIC BENEFIT

Fees

Bursaries and other financial assistance

During the reporting period no pupils applied for support from the bursary scheme.

A Hardship Fund is also available for existing parents/pupils of the school who are experiencing short-term financial difficulties. The school provides such financial assistance out of fee income only so the extent of help available is limited, dependent upon pupil numbers and fee levels.

During the reporting period 2 pupils benefitted from support from the Hardship Fund.

- 4 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

- 5 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Relationships and the community

We share the grounds and maintenance of our sports fields with the local junior cricket club for the mutual benefit of our pupils and their club members.

Charity support: We have continued to work alongside Harrogate-based charity, Horticap, on hugely popular wreath making workshops for pupils and parents.

Local Primary School support: The local primary school has use of our school minibuses and driver.

Holiday provision

BGS offers a holiday camp during the school holidays for BGS children. We are the only school in the area to offer an all-yearround provision.

Contribution to the local economy

- 6 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Financial performance

The principal source of income is school fees

The school made a surplus of £72,823 compared to a deficit of £82,444 in the previous year which was heavily impacted by Covid-19.

Total income increased by 13.4% (£168,971). During the year the school received Covid-19 related Government grants totalling £30,888.

Overheads increased by just 1% (£13,704) with all expenditure tightly controlled.

The Magic Tree Nursery secured the highest possible ISI inspection rating of outstanding in every category in its last inspection in late 2017, for the second inspection in a row, and continues to prosper under the leadership of Nursery Manager, Jo Henderson, who took up the post on 1st September 2019. Demand for places, often with government funding, remains very strong although parental financial constraints and strong state primaries in the local area mean this does not always convert into main school admissions.

The refurbished lodge continues to be an asset to the school, visually enhancing its surroundings and earning rental income of approximately £10,000 per annum.

RESERVES POLICY

The reserves policy is to maintain a minimum level of reserves to ensure the school can continue its current level of services having regard to possible future fluctuations in income and expenditure. At 31st August 2021 the unrestricted income funds, excluding the revaluation reserve, showed a deficit of £517,918. (2020: £590,741).

RISK MANAGEMENT

Comprehensive strategic planning, budgeting and management accounting
Established organisational structure and lines of reporting
Formal agendas and minutes of Governors’ meetings
Formal written policies
Comprehensive insurance policies
Formal risk assessments undertaken
Comprehensive Risk Register reviewed on a termly basis and/or more frequently when new risks arise or risk profiles change
Clear authorisation and approval levels
Safeguarding procedures as required by law for the protection of children.

Infection risk among staff and pupils which could impact on the school’s ability to fulfil its aims, even if only temporarily
Risk of falling revenue if pupils withdrew from school due to financial hardship brought on by the pandemic
• Potential safeguarding risks associated with the use of new online learning platforms
Detrimental effect on pupils’ academic progress and emotional wellbeing due to an extended period of remote

- 7 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

learning and absence from school.

PLANS FOR FUTURE PERIOD

Recruitment

The Magic Tree Nursery continues to be successful and the challenge continues to be retention of more of these pupils as they reach school age.

Marketing

The school maintains a high profile on social media, celebrating the achievements of our pupils both in and out of school and showcasing our unique setting.

New branding introduced last year to refresh our appearance continues to be rolled out around the school and across marketing

- 8 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

literature and has begun to appear on branded uniform items.

ISI Inspection outcomes

Strategic direction

A launch event – ‘BGS Fest’ - was planned by the leadership team and PTA to be held in September 2021 to launch the freshly articulated vision and values to the parent body.

The Head and senior teaching staff continue to review the curriculum to ensure that the education remains appropriate for our pupils’ development.

At the time of writing, we have appointed a new Head, Mr Nathan Sadler, who will join the school, along with his three children, in September 2022 from GEMS Wellington Academy in Dubai.

Investment plans

Teachers' Pension Scheme

- 9 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

COVID RESPONSE

The impact of Covid-19 on Belmont Grosvenor School

The school has engaged with parents and responded to feedback on the remote learning provision, adjusting the offering accordingly.

- 10 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

The action of the trustees in this regard put the school in as positive a position as possible for September 2020 with pupil numbers in line with expectations before the pandemic struck.

The trustees continued to monitor closely the forecast pupil numbers and the school’s cost base and set the fee increase for January 2021 ahead of the new term.

Relationships and the community

Trustees' responsibilities statement

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;

- 11 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

Sagars Accountants Ltd is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

The trustees' annual report and the strategic report were approved on 25[th] May 2022 and signed on behalf of the board of trustees by:

Mr G W Lowde Trustee

Mrs H Kernaghan Charity Secretary

- 12 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited

Year ended 31 August 2021

Opinion

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 August 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

We have nothing to report in this regard.

- 13 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust Limited (continued)

Year ended 31 August 2021

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which 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 have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; and

Responsibilities of trustees

Auditor's responsibilities for the audit of the financial statements

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

- 14 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- 15 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Independent Auditor's Report to the Members of The Belmont-Birklands School Trust

Limited (continued)

Year ended 31 August 2021

Use of our report

Susan Seaman BA, FCA, CIOT (Senior Statutory Auditor) (Senior Statutory Auditor)

For and on behalf of Sagars Accountants Ltd Chartered accountants & statutory auditor Gresham House 5-7 St Paul's Street Leeds LS1 2JG

- 16 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 August 2021

Year ended 31 August 2021
		2021		2020
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Charitable activities	5	1,400,260	1,400,260	1,124,976
Other trading activities	6	–	–	16,740
Investment income	7	9,970	9,970	11,241
Other income	8	23,360	23,360	111,662
		--------------------------------------	--------------------------------------	--------------------------------------
Total income		1,433,590	1,433,590	1,264,619
		======================================	======================================	======================================
Expenditure
Expenditure on charitable activities	9,10	1,360,767	1,360,767	1,347,063
		--------------------------------------	--------------------------------------	--------------------------------------
Total expenditure		1,360,767	1,360,767	1,347,063
		======================================	======================================	======================================
Revaluation of property for charity's own use	12	(350,000)	(350,000)	–
		--------------------------------------	--------------------------------------	--------------------------------------
Net income/(expenditure) and net movement in funds		422,823	422,823	(82,444)
		======================================	======================================	======================================
Reconciliation of funds
Total funds brought forward		669,875	669,875	752,319
		--------------------------------------	--------------------------------------	--------------------------------------
Total funds carried forward		1,092,698	1,092,698	669,875
		======================================	======================================	======================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 20 to 29 form part of these financial statements.

- 17 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Financial Position

31 August 2021

31 August 2021
		2021		2020
	Note	£	£	£	£
Fixed assets
Tangible fixed assets	16		2,961,081		2,611,624
Investment Property	17		250,000		250,000
			--------------------------------------		--------------------------------------
			3,211,081		2,861,624
Current assets
Debtors	18	71,329		74,581
Cash at bank and in hand		886,230		740,730
		------------------------------		------------------------------
		957,559		815,311
Creditors:amounts falling due within
one year	19	431,507		363,625
		------------------------------		------------------------------
Net current assets			526,052		451,686
			--------------------------------------		--------------------------------------
Total assets less current liabilities			3,737,133		3,313,310
Creditors:amounts falling due after
more than one year	20		2,644,435		2,643,435
			--------------------------------------		--------------------------------------
Net assets			1,092,698		669,875
			======================================		======================================
Funds of the charity
Unrestricted funds:
Revaluation reserve		1,610,616		1,260,616
Other unrestricted income funds		(517,918)		(590,741)
		--------------------------------------		--------------------------------------
Total unrestricted funds		1,092,698		669,875
			------------------------------		------------------------------
Total charity funds	23		1,092,698		669,875
			==============================		==============================

These financial statements were approved by the board of trustees and authorised for issue on 25[th] May 2022, and are signed on behalf of the board by:

Mr G Lowde Trustee Company registration number: 962198 Charity registration number: 529584

The notes on pages 20 to 29 form part of these financial statements.

- 18 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 August 2021

Year ended 31 August 2021
	2021	2020
	£	£
Cash flows from operating activities
Net income/(expenditure)	72,823	(82,444)
Adjustments for:
Depreciation of tangible fixed assets	5,104	4,078
Dividends, interest and rents from investments	(9,900)	(10,920)
Other interest receivable and similar income	(70)	(321)
Interest payable and similar charges	3,537	2,197
Changes in:
Trade and other debtors	3,252	(863)
Trade and other creditors	68,882	42,415
	------------------------------	--------------------------
Cash generated from operations	143,628	(45,858)
Interest paid	(3,537)	(2,197)
Interest received	70	321
	------------------------------	--------------------------
Net cash from/(used in) operating activities	140,161	(47,734)
	==============================	==========================
Cash flows from investing activities
Dividends, interest and rents from investments	9,900	10,920
Purchase of tangible assets	(4,561)	(10,714)
	------------------------------	--------------------------
Net cash from investing activities	5,339	206
	==============================	==========================
Net increase/(decrease) in cash and cash equivalents	145,500	(47,528)
Cash and cash equivalents at beginning of year	740,730	788,258
	------------------------------	------------------------------
Cash and cash equivalents at end of year	886,230	740,730
	==============================	==============================

The notes on pages 20 to 29 form part of these financial statements.

- 19 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2021

1. General information

2. Statement of compliance

The Belmont-Birklands School Trust Limited meets the definition of a public benefit entity under FRS102.

3. Accounting policies

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

- 20 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Incoming resources

Income from charitable trading activities include school fee income due for the year, together with the sale of school meals an other disbursements.

Investment income is recognised in the accounts on a receivable basis.

Resources expended

Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts.

Charitable expenditure enables the charity to meet its charitable aims and objectives.

Operating leases

Tangible assets

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 20% Straight Line Equipment - 33.33% Straight Line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.

- 21 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

3. Accounting policies (continued)

Financial instruments

Pension benefits

The school participates in a multi employer defined benefit pension scheme and a defined contribution pension scheme.

Contribution to both schemes are charged to the statements of Financial Activities in the period to which they relate.

4. Limited by guarantee

The company is limited by guarantee and as such does not have a share capital. The liability of the members is limited to a value not exceeding £1 per member upon the winding up of the company.

5. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
School Fees	1,287,847	1,287,847	1,000,561	1,000,561
Dinners and other disbursements	112,413	112,413	124,415	124,415
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,400,260	1,400,260	1,124,976	1,124,976
	======================================	======================================	======================================	======================================

6. Other trading activities

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Swimming pool hire	–	–	16,740	16,740
		=============	=============	==========================	==========================
7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Income from investment properties	9,900	9,900	10,920	10,920
	Bank Interest receivable	70	70	321	321
		---------------------	---------------------	--------------------------	--------------------------
		9,970	9,970	11,241	11,241
		=====================	=====================	==========================	==========================

- 22 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

8. Other income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Government grant income	8,883	8,883	92,503	92,503
Other income	14,477	14,477	19,159	19,159
	`───────`	`───────`	`──────`	`──────`
	23,360	23,360	111,662	111,662
	==========================	==========================	==============================	==============================
Expenditure on charitable activities by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	1,212,051	1,199,091	1,199,091
Support costs	148,716	148,716	147,972	147,972
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	1,360,767	1,360,767	1,347,063	1,347,063
	======================================	======================================	======================================	======================================

9. Expenditure on charitable activities by fund type

10. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds
	directly	Support costs	2021Total fund 2020
	£	£	£	£
Nursery and Preparatory School	1,212,051	136,940	1,348,991	1,336,026
Governance costs	–	11,776	11,776	11,037
	--------------------------------------	------------------------------	--------------------------------------	--------------------------------------
	1,212,051	148,716	1,360,767	1,347,063

====================================== ============================== ====================================== ======================================

11. Analysis of support costs

	Education	Total 2021	Total 2020
	£	£	£
Staff costs	104,967	104,967	104,978
Premises	21,750	21,750	21,316
General office	10,321	10,321	10,641
Governance costs	11,776	11,776	11,037
	------------------------------	------------------------------	------------------------------
	148,814	148,814	147,972
	==============================	==============================	==============================

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

	2021	2020
	£	£
Depreciation of tangible fixed assets	5,104	4,078
Operating lease rentals	23,601	20,597
	==========================	==========================
Auditors remuneration
	2021	2020
	£	£
Fees payable for the audit of the financial statements	3,035	2,950
	=====================	=====================

13. Auditors remuneration

- 23 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2021	2020
	£	£
Wages and salaries	875,506	868,641
Social security costs	69,847	69,952
Employer contributions to pension plans	104,319	111,190
	--------------------------------------	--------------------------------------
	1,049,672	1,049,783
	======================================	======================================

The average head count of employees during the year was 43 (2020: 42). The average number of full-time equivalent employees during the year is analysed as follows:

employees during the year is analysed as follows:
	2021	2020
	No.	No.
Number of admin staff	8	8
Number of teaching staff	22	22
	-------------	-------------
	30	30
	=============	=============
The number of employees whose remuneration for the year fell within the following bands, were:
	2021	2020
	No.	No.
£70,000 to £79,999	1	1
	=============	=============

The number of employees whose remuneration for the year fell within the following bands, were:

Key Management Personnel

15. Trustee remuneration and expenses

No remuneration of other benefits from employment with the charity or a related entity were received by the trustees.

No trustee expenses have been incurred (2020 - £nil).

- 24 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

16. Tangible fixed assets

	Freehold	Fixtures and
	property	fittings	Equipment	Total
	£	£	£	£
Cost
At 1 September 2020	2,600,000	98,626	33,890	2,732,516
Additions	–	3,470	1,091	4,561
Revaluations	350,000	–	–	350,000
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	2,950,000	102,096	34,981	3,087,077
	======================================	==============================	==========================	======================================
Depreciation
At 1 September 2020	–	88,453	32,439	120,892
Charge for the year	–	4,015	1,089	5,104
	--------------------------------------	------------------------------	--------------------------	--------------------------------------
At 31 August 2021	–	92,468	33,528	125,996
	======================================	==============================	==========================	======================================
Carrying amount
At 31 August 2021	2,950,000	9,628	1,453	2,961,081
	======================================	==============================	==========================	======================================
At 31 August 2020	2,600,000	10,173	1,451	2,611,624
	======================================	==============================	==========================	======================================

All the fixed assets are held to meet the charity's objectives.

Tangible fixed assets held at valuation

	Freehold
	property
	£
At 31 August 2021
Aggregate cost	1,610,829
Aggregate depreciation	(657,116)
	--------------------------------------
Carrying value	953,713
	======================================
At 31 August 2020
Aggregate cost	1,610,829
Aggregate depreciation	(624,331)
	--------------------------------------
Carrying value	986,498
	======================================

- 25 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

17. Investment property

	Investment
	properties
	£
Cost or valuation
At 1 September 2020 and 31 August 2021	250,000
	==============================
Impairment
At 1 September 2020 and 31 August 2021
Carrying amount
At 31 August 2021	250,000
	==============================
At 31 August 2020	250,000
	==============================

All investments shown above are held at valuation.

Investment properties

18. Debtors

	2021	2020
	£	£
Trade debtors	26,159	11,295
Prepayments and accrued income	45,170	46,131
Other debtors	–	17,155
	--------------------------	--------------------------
	71,329	74,581
	==========================	==========================
Creditors: amounts falling due within one year
	2021	2020
	£	£
Trade creditors	43,627	22,888
Accruals and deferred income	368,955	321,805
Social security and other taxes	18,925	18,932
	------------------------------	------------------------------
	431,507	363,625
	==============================	==============================
Deferred Income
	2021	2020
	£	£
Deferred income brought forward	290,115	248,279
Deferred income released to Statement of Financial Activities	(290,115)	(248,279)
Deferred income in the year	339,668	290,115
	------------------------------	------------------------------
Deferred income carried forward	339,668	290,115
	==============================	==============================

19. Creditors: amounts falling due within one year

- 26 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

20. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Loan	2,624,238	2,624,238
Other creditors	20,197	19,197
	--------------------------------------	--------------------------------------
	2,644,435	2,643,435
	======================================	======================================

The loan is secured by a charge on the property. All loans are repayable within 5 years.

21. Pensions and other post retirement benefits

- 27 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

The School also offers a defined contribution scheme. The pension charge for the year included contributions payable in respect of defined contribution pension schemes of £8,643 (2020 - £9,516).

22. Government grants

Government grants are recognised using the accrual model and the performance model.

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At				At
	1 September 2020	Income	Expenditure	Revaluation	31 August 2021
	£	£	£		£
General funds	(645,553)	1,433,590	(1,360,767)	–	(572,730)
Revaluation reserve	1,260,616	–	–	350,000	1,610,616
Designated Funds	54,812	–	–	–	54,812
	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
	669,875	1,433,590	(1,360,767)	350,000	1,092,698
	======================================	======================================	======================================	======================================	======================================
		At			At
	1	September 2019	Income	Expenditure	31 August 2020
		£	£	£	£
General funds		(563,109)	1,264,619	(1,347,063)	(645,553)
Revaluation reserve		1,260,616	–	–	1,260,616
Designated Funds		54,812	–	–	54,812
		--------------------------------------	--------------------------------------	--------------------------------------	--------------------------------------
		752,319	1,264,619	(1,347,063)	669,875
		======================================	======================================	======================================	======================================

The designated fund has been set aside by the Trustees for the provision of bursaries.

- 28 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

24. Analysis of net assets between funds

Analysis of net assets between funds
	Unrestricted	Total Funds	Total Funds
	Funds	2021	2020
	£	£	£
Tangible fixed assets	3,211,081	3,211,081	2,861,624
Current assets	526,052	526,052	451,686
Creditors greater than 1 year	(2,644,435)	(2,644,435)	(2,643,435)
	--------------------------------------	--------------------------------------	--------------------------------------
Net assets	1,092,698	1,092,698	669,875
	======================================	======================================	======================================
		Unrestricted	Total Funds
		Funds	2021
		£	£
Tangible fixed assets		3,211,081	3,211,081
Current assets		526,052	526,052
Creditors greater than 1 year		(2,644,435)	(2,644,435)
		--------------------------------------	--------------------------------------
Net assets		1,092,698	1,092,698
		======================================	======================================
		Unrestricted	Total Funds
		Funds	2020
		£	£
Tangible fixed assets		2,861,623	2,861,623
Current assets		451,687	451,687
Creditors greater than 1 year		(2,643,435)	(2,643,435)
		--------------------------------------	--------------------------------------
Net assets		669,875	669,875
		======================================	======================================

25. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

			2021	2020
			£	£
Not later than	1	year	16,306	13,374
			==========================	==========================

26. Related parties

There were no transactions with related parties during the current year.

- 29 -

The Belmont-Birklands School Trust Limited

Company Limited by Guarantee

Management Information

Year ended 31 August 2021

The following pages do not form part of the financial statements.

- 30 -

	2021	2020
	£	£
Income and endowments
Charitable activities
School Fees	1,287,847	1,000,561
Dinners and other disbursements	112,413	124,415
	--------------------------------------	--------------------------------------
	1,400,260	1,124,976
	--------------------------------------	--------------------------------------
Other trading activities
Swimming pool hire	–	16,740
	-------------	--------------------------
Investment income
Income from investment properties	9,900	10,920
Bank Interest receivable	70	321
	---------------------	--------------------------
	9,970	11,241
	---------------------	--------------------------
Other income
Other income	23,360	111,662
	--------------------------	------------------------------
	--------------------------------------	--------------------------------------
Total income	1,433,590	1,264,619
	======================================	======================================
Expenditure
Expenditure on charitable activities
Purchases	71,685	73,326
Wages and salaries	875,505	868,641
Employer's NIC	69,847	69,952
Pension costs	104,319	111,190
Operating leases	23,601	20,597
Rent, rates and insurance	53,009	50,764
Light and heat	59,017	63,417
Repairs and maintenance	37,443	38,442
Cleaning	6,809	6,239
Bad debts	2,242	11,847
Legal and professional fees	14,115	12,776
Telephone	8,911	9,287
Other office costs	25,623	28,004
Depreciation	5,104	4,078
Other interest payable and similar charges	3,537	2,197
	--------------------------------------	--------------------------------------
	1,360,767	1,347,063
	--------------------------------------	--------------------------------------
	--------------------------------------	--------------------------------------
Total expenditure	1,360,767	1,347,063
	======================================	======================================
Revaluation of property for charity's own use
Gains/(losses) on property	350,000	–
	--------------------------------------	--------------------------------------
	--------------------------------------	--------------------------------------
Net income/(expenditure)	422,823	(82,444)
	======================================	======================================

Governors: Mrs F E Trowell, Dr B J Whitehead, Mr G Milne, Ms K Standen and Mr G Lowde, Ms C Beeley, Ms C Brooksbank

25[th] May 2022

Sagars Accountants Ltd Chartered Accountants Gresham House 5-7 St Pauls Street Leeds LS1 2JG

Dear Sirs

Belmont Birklands School Trust Limited (“the Charity”) Accounts for the year ended 31[st] August 2021 (“the year”)

We acknowledge our responsibility for the fair presentation of the financial statements in accordance with UK GAAP.
We acknowledge as directors our responsibility for making accurate representations to you and for the financial statements of the charity.
We acknowledge our responsibility for the design and implementation of internal control to prevent and detect fraud and to prevent and detect error.
We confirm that we have received confirmation from each director, who was a director, at the time of the approval of the financial statements that they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that you are aware of that information and that so far as they are aware there is no relevant audit information of which you are unaware.
All accounting records and relevant information have been made available to you for the purpose of your audit.
All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records or other information provided to you. All other records and related information have been made available to you.
We have considered the adjustments in Appendix 1, proposed by you. We confirm that, in our judgement, these adjustments are appropriate given the information available to us. We further confirm that we have now made these adjustments to the financial statements.
We confirm that the financial statements are free of material misstatements, including omissions.
In the event that we publish the directors’ report, independent auditors’ report and financial statements electronically, we acknowledge our responsibility for ensuring that controls over the maintenance and integrity of the entity’s web site are adequate for this purpose.
There are no liabilities or contingent liabilities other than those disclosed in the financial statements and we have disclosed in the financial statements all guarantees that we have given to third parties.
No claims in connection with litigation have been or are expected to be received.
The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity's assets, except for those that are disclosed in the financial statements.
There have been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements other than those already disclosed or included in the financial statements. Should any material events occur which may necessitate revision of the figures in the financial statements, or inclusion in a note thereto, we will advise you accordingly.
The charity has at no time during the year any arrangement, transaction or agreement to provide credit facilities (including loans, quasi loans or credit transactions) for directors nor to guarantee or provide security for such matters, except as disclosed in the financial statements.
We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
We are not aware of any fraud or suspected fraud affecting the charity involving management, those charged with governance and employees who have a significant role in internal control or that could have a material effect on the financial statements.
We are not aware of any allegations of fraud, or suspected fraud, affecting the charity’s financial statements communicated by employees, former employees, analysts, regulators or others.
We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business.
The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of noncompliance.
We confirm that, having considered our expectations and intentions for the next twelve months and the availability of working capital, the charity is a going concern. We are unaware of any events, conditions, or related business risks beyond the period of assessment that may cast significant doubt on the charity’s ability to continue as a going concern. We have considered the impact of Covid-19 on the charity and still consider the going concern basis appropriate.
We have confirmation that the balance due to Mr P Kavanagh at the year end amounts to £2,624,238 and repayment of the loan will not be requested until January 2024.
In respect of accounting assumptions and judgements, we confirm our belief that the significant assumptions used are reasonable.
We have no plans or intentions that may materially alter the carrying value or classification of assets and liabilities reflected in the financial statements.
We confirm that in our opinion the value of the Charity’s freehold property and the residual value of the property at Swarcliffe Hall, Birstwith as at 31 August 2021 was the value in the financial statements of £3,200,000 and consequently no provision is required in these financial statements in respect of impairment of the property. Of this value, £250,000 has been included in the accounts as an investment property, being the Lodge which is rented out. The company's policy is to provide depreciation at 2% on freehold buildings but not to provide depreciation on freehold land. However as the buildings are maintained to a very high standard and revalued regularly their residual value is considered by the governors to be not less than their carrying value and therefore the actual depreciation provided in the financial statements in respect of freehold buildings is nil.
The amounts disclosed in the accounts as trustees' remuneration are correctly stated and include all amounts received from the charity or any other person. They include, where applicable, all fees, salaries, bonuses, benefits in kind, expense allowances chargeable to UK taxation and also payments to the pension scheme other

Yours faithfully,

…………………. Trustee Signed on behalf of the board

Appendix 1 - Summary of adjustments made to the accounts during the audit

Profit/(Loss) per client accounts per Sage P&L Depreciation charge adjustment for the year Reallocation of EYF credit debtor balance Gain on revaluation of property Profit/(Loss) per final audited accounts	£ 72,054 (5,104) 5,873 350,000
	422,823