Leehurst Swan Limited
(A Company Limited By Guarantee)
Report of the Governors, Strategic Report
and Financial Statements
For the year ended 31 August 2024
Company number: 2306881
Charity number: 800158

Leehurst Swan Limited
Contents
For the year ended 31 August 2024
Page
Company informatlon
Report of the Governors (Including Strateglc Report)
Report of the Independent Auditors
Statement of Financlal Activities
io
Balan￿ Sheet
li
ststement of Cash Flow
Notes to the Flnanclal Statements
13
Detalled Income and Expendlture Account
20

Leehurst Swan Umlted
Company Informatlon
For the year ended 31 August 2024
GOVERNORS:
Theresa Butler
Sarah Erven
William Howard
Dr Candida Soames
Alex Wilkinson
appolnted 24/02/2025
oppointed 04/03/2025
appointed 26/03/2025
appointed 14/03/2025
appointed 01/05/2025
appointed Q1/09/2024,.
re51gned 12/05/2025
appointed 23/11/2Q23,"
resigned 12/05/2025
uppolnted 28/02/2025,.
resigned 25/04/2025
appointed 23/IV2023,"
resigned 05/11/2024
oppointed 23/11/2023..
resigned 25/09/2024
resigned 11/03/2025
resigned 31/12/2023
resigned 03/10/2023
resigned 12/07/2024
reslgned 03/03/2025
resigned 12/07/2024
Phlllp Oldroyd
Richard Demain-Griffiths
Crispin Morton
Jane Bailey
Matthew Round
Douglas Gale
Victorla Hance
lan McDonald
Michele Russell
Stephen Spicer
Jonathan Wansev
HEADTEACHER:
Mr Clive Marriott
appolnted Interlm I September
2024, confirmed 27 March 2025.
resignedjuly 2024
Mrs Mandy Bateman
BURSAR AND COMPANY SECRETARY:
Mrs Lindsay Chater
re51gned 05 company Secretary 22
April 2025
appointed Interlm company
5ecretury 22 April 2025
Andrew Lewin
REGISTERED OFFICE:
19 Campbell Road
Salisbury
SPI 3BQ
REGISTERED NUMBER:
2306881 (EnBland and Wales}
REGisfERED CHARITY NUMBER:
800158
AUDITORS:
Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St Ann Street
Sallsbury
SPI 2DR

Leehurst Swan Umtted
Company Informatlon
For the year ended 31 August 2024
BANKERS:
Barclays Bank plc
216 Hi8h Street
Salisbury
SPI 2YH
SOLICITORS:
Wilsons Solicitors LLP
Alexandra House
St Johns Street
Salisbury
SPI 2SB
INSURANCE BROKERS:
Marsh Commercial
Belvedere
12 Booth Street
Manchester
M2 4AW

LEEHURST SWAN LIMITED
IA COMPANY LIMITED BY GUARANTEE)
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2024
The Governors present their annual report, together with their Strategic Report, and the audited financial statements
of the companyforthe yearended 31 August2024 and confirm they comply with the Charities Act 2011, the governing
document and the Charities SORP 2019 IFRS 102).
PRINCIPALAIMS
The principal activity of the company in the year under review was the advancement of education of boys and girls,
focussing not just on academic success but also ensuring development of their mental and physical wellbeing.
The school's main atms are as follows-
To safeguard all members of a flourishin& sustainable school, committed to the development of good practice
and sound procedures in all areas of child protection.
To provide a supportive. nurturin& family-centred school community based on Christian values, where every
child is valued and encouraged to excel.
To provide a broad, innovative and holistic curriculum, focusing on creativity and independent enquiry with
high academic expectations and achievement.
To place strong emphasis on the individual and their personal development.
To provide a vibrant and inclusive sporting and extracurricular programme.
To adopt a global perspective and encourage links between the school and the wider community.
To promote a sense of social responsibility and appreciation of the needs and gifts of others.
To equip our pupils with the skills necessary for adult life.
In the reporting period we delivered a well-balanced education through our pre-preparatory, preparatory and senior
departments, providing a first-class education to boys and girls from the ages of 4 to 16 years. We provided a
stimulating educational environment that develops our pupils, abilities, competence and skills. We promoted the
academic, moral and physical development of our puplls through our academic curriculum, pastoral care. sporting and
other activities. We provided an educational environment where every child was valued as an individual and
encouraged to develop to their full potential, building self-esteem and confidence, and an inherent desire to
contribute to the wider community. Those students who left over the period were well prepared to embrace the
opportunities, responsibilities and experiences of the next stage of their lives.
GOVERNING DOCUMENT
The School is a company limited by guarantee and is governed by its Memorandum and Articles of Association.
originally incorporated in October 1988 and last adopted in 2007.
REVIEW OF AcfiviTIES & ACHIEVEMENTS
The results for the year and financial position of the company are as shown in the annexed financial statements.
OUR OBJECTIVES
Our objectives were setto reflect both our educational aims and the ethos of the School. In setting our objectives the
School have carefully considered the Charity Commission's public benefit guidance.
Our objectives for the year were set in the wider context of providing a financially secure, happy, purposeful
community, based on Christian values.
They included:
Educating every pupil to the highest standard each is capable of, whilst being sensitive to
their various stages of development,.
Promoting a sense of social responsibility and appreciation of the need5 and gifts of others;
Celebrating and fostering the unique interests and talents of each individual;
Providing SUPPOrt to pupils in need of assistance through discounts and bursaries;

LEEHURST SWAN LIMITED
IA COMPANY LIMITED BY GUARANTEE)
REPORT OF THE GOVERNORS
FOR THE YEAR ENDEO 31 AUGUST 2024
Commitment to the development of good practice and sound procedures in all areas of child protection and
safeguardin&
Encouragement of strong links between the school and the wider community;
Financial rigour to ensure business survival.
ACADEMIC
Pupi15 in the senior school make excellent progress in preparation fortheir GCSE years. The School offers a wide range
of GCSE and IGCSE subjects for pupils to ch005e from and optional subjerts include: physics, chemistry, biology, design
technology. computer science, music, PE, drama, art, photography, history, geography, RS. business studies and
modern foreign languages. These are in addition to the core subjects and most pupils study ten GCSE subjects over
the course of Year 10 & 11. Academic performance at the end of Year 11 was excellent, 89% of the pupils gained five
or more GCSES including mathematics, English and science and all pupils gained places at their first choice of sixth-
form provider. with most choosing to attend either Bishop Wordsworth School, South Wilts or Peter Symonds Sixth
Form College.
2023-2024
GCSE RESULTS
95°A achieved grade 4 and above in 5 or more subjects. Nationally pass rate fell for third year running
(67.4%).
86% of pupils passed in 5 Subjects or more including English and maths.
44% of entries achieved top marks of grade 7 and above. (Nationally 22.6%, Independent schools
48.4Yo, Grammar schools 60.3%)
25% of grades were grade 8 or 9. 8Yo of grades were grade 9. Nationally 5.1%.
Nationally a larger growth in top grades (7 or above) in English (19Y.) compared to maths (21.1%).
85% achieved grade 5 {strong pass) or above. (Nationally 54.6%. Nationally grade 5 or above English
55%, maths 53.3%).
PUBLIC BENEFIT
The governors have complied with their duty to have due regard to the guidance on public benefit published by the
Charity Commission. In exercising their powers and duties they have considered whether any alterations were
required to the School's policies in relation to educational and fee-charging charities.
Leehur5t Swan actively pursues a policy of budgeting a proportion of fee income for the award of scholarships and
bursaries, for those less able to afford the full fees or forexisting parents who fall on hard times. During the pastyear,
a total of £452k {16.8% of fee income) was rebated in the form of scholarships, bursaries and discounts to siblings and
staff.
The Walker Hall, as a specialist auditorium hall, with fold awayseating, ser4ed local dance, drama and musical groups.
The School choir performs for visitors from local care homes as well as performing in their residence for those less
able to getto the school. The choir performs forcharity events including the mathetplace and the City Hall. The School
airns to engage and help the local community by providing work experience places for Year 10 pupils from local
maintained schools.
GOVERNORS. INDucnoN AND TRAINING
Governorskills and attributes are assessed regularlyto ensurethe make-up of the board provides the levels of support
and knowledge required, and so that governor recruitment targets any skills gaps.
There are a wide range of competencies across the governing bodyi It includes those with expertise in education; a
former head teacher, an engineerlng director, HR, former senior police officer and a multiple business owner. After
appointment new governors are allocated to sub-committee{sl, that align to theirskills, experience and qualifications.

LEEHVRST SWAN LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2024
Governors are encouraged to attend regional seminars organised by thelr professional body; AGBIS. Other seminar5
attended include those organi5ed by local firms and organisations on a variety of relevant topics and issues such as
Charity Law and Employment Law updates. Governors have access to various regular bulletins and reports through
education and governance-based assoclatlons, Including safeguarding.
ORGANISATION
The governors of the school act as directors and trustees of the charitable company. The governors include 'Guardian
Governors, who are responsible for the protection of the character and ethos of the school. The names of persons
who serded as governors are given In the attached Report of the Governors, Strategic Report and Financial Statements.
The day to day running of the School Is devolved to the head, supported by the bursar and the senior management
team.
ACCESS AND ADMISSIONS POLICY
Leehurst Swan School is a selective school whlch welcome5 pupils from all backgrounds. Prior to admission,
prospective pupils are assessed to provide the school with a snapshot of performance which contributes to the raft of
eviden￿ collected before a place is offered. Places are only offered once the school has a full picture of an individual's
ability and potential across the breadth of the curriculum. Entrance interviews, references and assessments are
undert3ken to satisfy these requirements and ensure potential puplls can cope wlth the pace of learnlng and benefit
from the education provided. An individual's economic status, Eender, ethnicity, race, religion or disability do notform
part of the assessment process.
FUTURE DEVELOPMENTS
The Governors continue their commitment to developing the quality of every aspect of the school. The School
continues to invest heavily in the professional development of the stsff, the school's major asset, curriculum
innovation and the school's site and infrastructure.
GOVERNORS
The governors of the school in office at 31 August 2024 were as shown in the attached Report of the Governors,
Strategic Report and Financial Statements.
The Board of Governors is a self-appointed body.
THE FINANCIAL RESULTS
A deficit of £152,726 was incurred during the year.
INVESTMENf POWERS
These are governed by the Memorandum and Articles of Association which Include the power to delegate to
Investment Managers.
RESERVES POUCY
The school does notcarryfree funds. It isthe policyof the governorsto applyanyoperating surplustothe development
and improvement of the fabric and facilities of the school.
RISK MANAGEMENT
The major risks to the School as identified by the governors have been reviewed and systems have been established
to mttigate those risks. Reviews are carried out regularly throughout the year, through all the Governance meetings.
Risk review is a standing item on every agenda.

LEEHURST SWAN LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGusf 2024
STATEMENT OF GOVERNORS. RESPONSIBILITIES
Law applicable to incorporated charities in England and Wales requires the Governors (who are also the directors of
the company and trustees of the charity) to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the company and of its financial activities for that period. In preparing those financial
statements, the Governors are required to..
Select suitable accounting policies and then apply them consistentlv;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standard5 have been followed, subject to any material
departures disclosed and explained in the financial statements,.
Prepare the financial statements onthe going concern basis unless it is inappropriate to presume that
the company will continue in operation.
The Governors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of the company and to enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the Governor5 are aware, there is no relevant audit information (as defined by section 418 of the Companies
Act 20061 of which the company's auditors are unaware, and each Governor has taken all the steps that he or she
ought to have taken as a Governor in order to make himself of herself aware of any relevant information and to
establish that the companvs auditors are aware of that information.
AUDITORS
The auditors, Fawcetts LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
ON BEHALF OFTHE BOARD OF GOVERNOR5:
The governors (in their capacity as directors of the company and trustees of the charity) approve the Report of the
Governors and the Strategic Report for the year ended 31 August 2024.
William Howard -Governor
Dated:
29. k- ao2J

Report of the Independent Auditors
To the Members of
Leehurst Swan Limited
Opinion
We have audited the financial statements of Leehurst Swan Limited {the 'charitable company'l for the year ended
31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and
related notes, including a summary of signlflcant accounting policies. The flnanclal reporting framework that has been
applled In their preparation is appllcable law and United Kingdom Accounting Standards, including Flnancial Reporting
Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland. Iunited Kingdom Generally
Accepted Accounting Prarticel.
In our opinion the financial statements:
give a true and fair vlew of the state of the charitable company's affairs as at 31 August 2024 and of its Incoming
resources and application of resources, inclduing its income and expenditure, for the year then ended;
have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practlce. and
have been prepared in accordance with the requirements ofthe Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with Internatlonal Standards on Auditlng IUKI IISAS IUKII and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial
statements sectlon of our report. We are independent of the charitable company in accordance wlth the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Eth5cal Standard and
we have fulfilled our other ethlcal responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtsined Is sufficient and appropriate to provide a basis for our opinlon.
Conclusions relatlng to going concern
In audlting the financial statements, we have concluded that the governors, 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 re5ating to events or conditions
that, indivldually or collectlvely, may cast signlficant doubt on the charitable company's ability to continue as a going
concern for a period of at least twelve months from when the financial ststement5 are authorised for issue.
Our responsibilities and the responslbilitie5 of the trustees with respect to going concern are described in the relevant
sections of this report.
Other inforniatlon
The other information comprlses the information included in the Report of the Governors, other than the financial
statements and our auditor's report thereon. The Governors 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 incon5i5tent with the financial statements or our knowledge obtained in the audit or otherwise appear5 to be
materially misstated. If we identify such material inconslstencies or apparent material mi55tatements, we are required to
determine whether there is a material misstatement in the financial statements or a material mlsstatement of the other
information. If, based on the work we have perfomied, we conclude that there 15 a material misstatement of this other
information. we are requlred to report that fact.
We have nothingto report in thls regard.
Oplnlons on other mattels prescrlbed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit:
the information glven in the Report of the Governors, which includes the Report of the Directors prepared for the
purposes of company law. for the financial year for which the financial ststements are prepared is consistent with the
financial statements,. and
The Report of the Directors included within the Report of the Governors has been prepared in accordance with
applicable legal requirements.

Report of the Independent Audltors
To the Members of
Leehurst Swan Limited
Matters on whlch we are required to report by exception
In the light of the knowledge and understanding of the charitable company and Its envlronment obtained in the course of
the audit, we have not identified material mi55tatements In the governor< report.
We have nothlng to report in respect of the following matters in relatlon 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 Member5 of the Governor5 remuneration specified by law are not made,. or
we have not received all the information and explanation5 we require for our audit.
Responsibilities of the Governors
As explained more fully in the Statement of Governor's Responsibilities, the Members of the Board of Governors {who are
also directors of the charitable company 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 a5 the
Governors 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 Governors are responsible for assessing the charitable company's ability to
continue as a going concern, discloslng, as applicable, matters related to going concern and using the golDg concern basis of
accounting unless the Governors either intend to liquidate the charitable company or to cease operations, or have no
realistic alternative but to do so.
Auditorfs responslbilities for the audlt of the linanclal 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 a Report of the Auditors 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
IUKI will always detect a material misstatement when it exists. Misstatement5 can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expetted to Influence the economic
decisions of users taken on the basis of these flnancial statements.
IdentifylnE and assessing potentlal risks related to Irregularities
Irregularities, including fraud, are non-compliance with laws and regulations. We design procedures, in Ilne with our
responsibilities. as set out in the auditor's responsibillties for the audit of the financial statements Section, to detect
material misstatements in respect of irregularities, including fraud. The extent to which are procedures are capable of
detecting irregularities. incSudlng fraud, are detailed below.
In identifying and asse55ing risks of waterial misstatement in respect of irregularities. including fraud and non-complian
with laws and regulations we consider the following:
the nature of the charity Sector, control environment and financial performance;
results of our enquiries of management about their own identification and assessment of the risks of irregularities-
any matters we identified having obtained and reviewed the charity's documentation of their policies and procedures
relating to:
identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of
non-compliance:
detecting and responding to the risks of fraud and whether they have knowledge of any attual, suspected or alleged
fraud;
- the Internal controls established to mitigate risks of fraud or non-compliance with laws and regulations
the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial
statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunlties and incentives that may exlst within the organisation for
fraud and identified the greatest potential for fraud in the following area: revenue and resource recognition. In common
with all audits under ISA5 IUKI, we are also required to perform speciflc procedures to respond to the risk of management
override.

Report of the Independent Auditors {continued)
To the Members of
Leehurst Swan Llmlted
We have also obtsined an understanding of the legal and regulatory frameworks that the charity operates in, focusing on
provlsions of those laws and regulations that had a dlrect effect on the determinatlon of materlal amounts and dlsclosures
in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act and
related legislation.
Audit response to risks identified
As a result of performing the above, we identified revenue and resource recognition as a key audit matter related to the
potential risk of fraud. Our procedures to respond to risks identified included the following:
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with
provisions of relevant laws and regulations described as having a direct effert on the financial Statements;
understanding the group's revenue recognition policies and how they are applied. including the relevant controls and
performing a walkthrough to validate our understanding.
enquiring of management concerning actual and potential litigation and claims;
performing analytical procedures to compare revenue recognised against expectations and based on past experiences
and management forecasts and investigated material divergencies by obtaining corroboratNe evidence.
reading minutes of meetings of those charged with governance-
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries
and other adjustments; applying parameters designed to identify entries that were not within our expectations. This
included analysing and selecting journals for testing which appeared unusual in nature, elther due to size, preparer or date
of posting. To test their validity, we verified the journa15 to originating documentation.
We also communicated relevant Identified laws and regulations and potentlal fraud rlsks to all engagement team members
and remained alert to any Indicatlon5 of fraud or non-compliance with laws and regulatlon5 throughout the audit.
Owing to the Inherent limitations of an audlt, there is an unavoidable risk that we may not have detected some materlal
misstatements in the financial statements. even though we have properly planned and performed our audit in accordance
wlth auditing stsndards. For example, the further removed non-compllance wlth laws and regulations Ilrregularities) is
from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures
required by auditing standards would identify it. In addition, as with any audit, there remained a higher rlsk of non-
detection of irre8ularities. as these may involve colluslon, forgery, intentional omission5, mlsrepresentations, 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.
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.orE.uklauditorsresponsibilities. This description forms part of our Report of the Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter a of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might stste to the charitable company's members
those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent
permitted by law. we do not accept or a55ume responsibility to anyone other than the charitable company and the
charitable company's members as a body. for our audit work, forthis report, or for the opinions we have formed.
on Ellingham BA FCA DChA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP
Chartered Accountants & Statutory Audltors
Windover House. St Ann Street
Sallsbury
SPI 2DR
Date..

Leehurst Swan Umlted
Statement of Flnanclal Actlvltles
For the year ended 31 August 2024
2024
Total
2023
Total
INCOME AND EXPENDITURE
Unrestricted
Restricted
Note
INCOME ANO ENDOWMENTS FROM..
Charitable activities..
School fees receivable
Other income
2,237,317
97.643
2,237,317
97.643
2.118,397
82.000
Investment Income
Total income
2,334,960
2,334,960
2,200,397
EXPENDrruRE ON:
Charitable activities
2,487.686
2,487,686
2,081.268
Total expendtture
2,487.686
2.487.686
2,081.268
NET INCOMVIEXPENDITURE)
1152.7261
(152,726)
119.129
RECONCILIATION OF FUNDS".
Total funds brought forward at I September 2023
3,202,392
3,202,392
3,083,263
TOTAL FUNDS CARRIED FORWARD at 31 August 2024
3.049,666
3,049,666
3,202,392
CONTINUING OPERATIONS
None of the charitable company'5 activities were acquired or discontinued during the current and previous years.
The notes form part of these financial statements
io

Leehurst Swan Umlted
(Company number: 02306881)
Balance Sheet
As at 31 August 2024
2024
2023
Note
Flxed assets
Tangible fixed assets
3,822,933
3,873,344
Current assets
Stock
Debtors
Cash at bank and in hand
20,936
60,004
645,129
15,240
37,900
785,471
Llabllitie$
Creditors: Amounts due within one year
8S3,346
679,984
Net current assets
1127,277)
158,627
Total assets less current liabilities
3,695,656
4,031.971
Creditors: Amounts due after more than one year
io
645,990
829,579
NET ASSETS
3,049,666
3,202,392
Funds
Unrestricted funds:
3.049,666
3.202.392
TOTAL FUNDS
3,049.666
3.202,392
The financial statements were approved and authorised for issue by the Governors and were signed on its behalf
by..
Wllllam Howard
Governor
Date:
29-
The notes form part of these financial statements
li

Leehurst Swan Llmlted
Statement of Cash Flow
For the year ended 31 August 2024
2024
2023
Notes
CASH FLOWS FROM OPERATING AcfiviTIES:
Net cash provided byllused Inl operating activitles
95,092
364,182
Cash flows from investlng activities:
Purchase of tangible fixed assets
Proceeds on sale of tan8ible fixed assets
(79,2611
{9,992)
Net cash provided byllused inl investlng attivities
179,2611
19,992)
Cash flows from financing activities..
Repayments of borrowlng
Cash Inflows from new borrowing
1156,1731
1152,744)
Net cash provlded byllused inl financlng activities
{156,1731
{152,744}
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR
1140,3421
201.446
Cash and cash equlvalent5 brought forward
785.471
584,025
CASH AND CASH EQUIVALENTS CARRIED FORWARD
AT 31 AUGUST
645.129
785,471
a) Reconciliatlon of net income/lexpendlture) to net cash flow from operating actlvltles
2024
2023
Net incomellexpenditurel for the year a5 per the
Statement of Financlal Activities
1152,7261
119.129
Adjusted for:
Depreciatlon
{Profltl/loss on disposal of tangible fixed assets
{Increasel/decrease in stock
{Increaselldecrease In debtors
Increase/ldecrease} in creditors
129,672
122,658
15,696)
122,1041
145,946
115,2401
26,034
111,601
Net cash (used in)/provlded by operatlng actlvltles
95,092
364,182
bl Analysis of cash and cash equivalents
2024
2023
Cash at bank and in hand
645,129
645,129
785.471
785,471
12

Leehurst Swan Limited
Notes to the Flnandal Statements
For the vear ended 31 AuEust 2024
Accountlng pollcles
A summary of the prlncipal accountlng policies adopted, which have been applied consistently, are set out
below:
1.1 General information and basis of accounting
Leehurst Swan Limited is a company limited by guarantee incorporated and registered in England and Wales.
The school constitutes o Public Benefit Entity as defined by FRS 102. The financial statements have been
prepared in accordance with Accounting and Reportlng by Charities.. Statement of Recommended Practice
applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable
in the United Kingdom and Republic of Ireland IFRS 102} (effective l January 20191- (Charities SORP 2019 IFRS
102}}, the Charities Att 2011 and the Companies Act 21KJ6.
The financial statements are prepared under the historical c05t convention. modified to include certain items
at fair value. The financial statements are prepared in Sterling l£} which is the functional currency of the
charitable company.
1.2 Going concern
The financlal statements have been prepared on a going concern basis. In common with other Schools,
Leehurst Swan School fa¢e5 uncertainties 3risin8 from current economic conditlons including inflationary risks,
interest rate rises. and government policles, all of which can impact on the costs faced by the school and also
the demand for school places. After making due enqulrles, including review of the latest flnancial data and
future projertlons, the Governor5 have a reasonable expectation that the School has adequate resources to
contlnue In operational exlstence for the foreseeable future. For this reason they continue to adopt the golng
concern basis in preparing these flnancial statements.
1.3 Funds
The School'5 funds consist of unrestricted and restricted amounts. The School may use unrestricted amounts
at its discretion. Deslgnated funds comprise unrestricted funds that have been set aside for particular
purposes. Restricted funds can only be used for a particular purpose as specified by the donor.
1.4 Incomlng resources
The income and net incoming resources are attributsble to the one principal actlvity of the charitable
company.
Feesand similar Income
Fees receivable and charges for services and use of premises are accounted for in the period in which the
Se￿ice is provided. Fees receivable are stated after deducting allowances, scholar5hip5 and other remissions
allowed by the school.
Donation5, legacies and fund accounting
Donations and legacies received for the general purposes of the school are included as unrestricted fund5.
Donation5 and legacies for activitie5 restricted by the wishes of the donor are taken to "restricted fund￿ where
these wishes are legally binding on the Governors.
1.5 Expenditure
All expenditure 15 included on an accruals basis and is recognised when there 15 a legal obligation to pay for
expenditure. All costs have been directly attributed to one of the functional categories of resources expended
in the SOFA. The irrecoverable element of VAT is included with the item of expense to which it relates.
13

Leehurst Swan Limited
Notes to the Flnanclal Statements
For the year ended 31 August 2024
Accounting polldes (continued)
1.6 Tangible fixed assets and depreciation
Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low
value with a short life. Repair, renovation and repla￿ment expenditure is written off as expenditure in the
statement of financial activities. The cost of fixed assets is their purchase cost, together with any incidental costs
of atquisttion. Depreciation Is calculated to write off the cost of tangible fixed asset5, less their estimated residual
values. over the expected useful lives of the assets concerned. The principal annual rate5 used for this purpose
are:
Land
Freehold property
Fixtures and fittings
Motor vehicles
not depreciated
between 2% and IO% on cost
20% reducing balance or 33.33% on cost
25% on reducing balance
1.7 Debtors
Debtors are measured at their recoverable amount.
1.8 Stock
Stocks of uniform are valued at the lower of cost and net realisable value, after maklng due allowantt for
obsolete items.
1.9 Credltors and provisions
Credltors and provisions are recognised where the company has a present obligation resulting from a past event
that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can
be measured or estimated reliably. Creditors and provisions are normally recognlsed at their settlement amount
after allowingfor anytrade discounts due.
1.1 Taxatlon
The company is a registered charity and, as such, Is not liable to corporation tax.
1.11 Flnancial instruments
The School only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic finantial instruments are initially recognlsed at transaction value and subsequently measured at their
settlement value.
1.12 Advance fees scheme
The school offers parents the opportunity to pay fortuition fees in advance. The money may be returned subjert
to specific conditions on receipt of one term's notice. These fees are treated as deferred income and the fee for
each school tenn is charged againstthe remaining balan￿ and tsken to income.
1.13 Operating leases
Rentals paid under operating leases are charged on a time basis over the lease term.
1.14 Pension costs
The School's teaching stsff have the option to be members of a pension scheme which is operated by the
Teacher< Pension5 Scheme. This is a multi-employer pension scheme. It is not possible to identify the School's
share of the underlying assets and liabilitie5 of the scheme on a consistent and reliable basi5 and therefore. as
required by FRS 102, the School accounts for the scheme as if it were a defined contributlon scheme.
Contribution5, which are in accordance with the recommendations of the Govemment Actuary. are charged In
the period in which the Salaries to whlch they relate are payable. For non-teaching staff, the School contributes
to a defined contribution group personal pension plan.
14

Leehurst Swan Limited
Note5 to the Financial Statements
Foi the vear ended 31 August 2024
Fees
2024
2023
Fees receivable consist of.,
Gross fees
Less- Total bursarie5, grants and allowances
2,690,161
1452,8441
2,237,317
2,562.760
1444,3631
2.118,397
2,237,317
2.118.397
Sundry and other incorne
2024
2023
Lettings
Sundry Income
53.187
44,456
49,152
32,848
97.643
82,000
Staff Costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
1,459,160
123,482
283.490
1,866,132
1,211,936
107,526
225,034
1.544,496
The average number of employees during the yearwas as follows..
Heod count
2024
Full-time equlvulent..
2024
2023
2023
Teaching
Non-teaching
35
32
19
51
29
16
45
25
14
39
21
56
A termination payment of £42,436 was paid during the year12023 - £Nill. An additional ex-gratia payment of
£18.OQKI has been accrued for and was paid in September 2024.
None of the governors. nor persons connetted with them re￿iVed any remuneration or other material benefits
from the schoDI or any connected organisation.
Two governors paid school fees amountin2 to £44,862 to the school during the year.
The key management personnel of the school comprise the Governor5, the Head and the Bursar. The toLIl
remuneration of the key management personnel was £186.040 {2023- £140,5071.
2024
2023
£60.001- £70,000
£70,(KII- £80,000
Over £80,001
15

Leehurst Swan Llmlted
Notes to the Financial Statements
For the year ended ai August 2024
Analysi5 of expendlture
2024
Totsl
2023
Total
Staft costs
Other
Depreciation
Charitsble adlvltles:
hool operating c05t5
Teachlng
Premlses
Support ¢05ts of schoollng
1.636,775
126,814
102.544
56.499
234,432
126.969
15,803
106,297
7,572
1,709,077
467.543
237,085
1,415,010
390,210
211,666
1.866,133
417.900
129.672
2.413,705
2,016,886
Govèmance costs
1.866,133
417,9
129.672
2,413.705
2.016,886
Flnance and other costs
73,981
73,981
64,382
Total re50UTces expended
1,866,133
491.881
129,672
2,487,686
2,081,268
Tangible Flxed Assets
Freehold
Property
Fixtures and
fittin85
Motor
vehide5
Total
Cost
At I September 2023
Additions
Dlsposals
At 31 August 2024
5,786,169
380,120
79,261
24.006
6.190,295
79,261
5,786,169
459,381
24,IK16
6,269,556
Depreciat5on
At I September 2023
Charge for the year
Disposals
At 31 August 2024
1,967,908
106,297
327.680
22,715
21,363
660
2,316,951
129,672
2,074,205
350,395
22,023
2,446,623
Nèt book Value
At 31 August 2024
3,711,964
108,986
1,983
3.822,933
At 31 August 2023
3.818,261
52,440
2,643
3,873,344
Thè ¢ost of freehold property includes land of £319,408 which is not belng depreciated.
Stock
2024
Z023
Unlform stocks
20,936
15,240
Debtors: Amounts fallln8 due wtthln t)ne year
2024
2023
Trade debtors
Other debtors
36,831
23,173
24,610
13,290
60,004
37,900
Creditors: Amounts falling due vAthln one year
2024
2023
Bank loans and overdrafts Isee note 121
Deferred incomè (fees paid in advancel
Autumn 2024 fee5
Other credltors
Accrued expènsès
178,660
152.744
504,821
140.210
29,655
853,346
417,152
98,988
ii,ioo
679,984
16

Leehurst Swan Umlted
Notes to the Financlal Statements
For the vear ended 31 August 2024
10. Creditors: Amounts falllng due after more than one year
2024
2023
Bank loans (see note 121
Fee dep051ts
600,740
45,250
645,990
782.829
46,750
829.579
11. Obligations under leasing agreements
The total future minimum payments due on leases expiring:
2024
2023
Motor vehicles:
Expiring:
Between one and five years
11.098
23.848
12. Loans and overdrafts
An analysis of the maturity of loans and overdrafts is given below:
2024
2023
Amounts falling due within one year oron demand-
Bank loan
178,660
152,744
Amounts falling due between one and two years:
Bank loan - 1-2 years
175,028
152,744
Amounts falling due between two and flve years:
Bank loan - 2-5 years
360,349
411,978
Amounts falllng due over five years:
Bank loan - over 5 years
65,363
218.107
There are three bank loans, all repayable by instalments over 20 years. One loan Is repayable at a fixed
interest rate of 5.5% per annum and the othertwo loans at base rate + 3% per annum.
13. Secured debts
The following secured debts are included within creditors:
2024
2023
Bank loan5
779,400
935,573
The bank loans are secured by a first legal charge over the freehold property of the School.
17

Leehurst Swan Llmlted
Notes to the Flnanclal Statements
Fof the year ended 31 August 2024
14. Penslon ¢ommltments
The company makes contributions to a defined benefit scheme operated by Teachers, Pensions on behalf of
some of the teaching staff. The company also makes contributions to money purchase pension schemes on
behalf of non-teaching staff.
The total pension cost for the school was £283.49012023 - £225,034) of which £59,14912023 - £71,866) relates
to the money purchase pension scheme.
Teacher5. Pension Scheme
The School participates in the Teacher's Pension Scheme (England and Wales) I'the TPS'I for its teaching staff.
The pension charge for the year include5 contributions payable to the TPS of £224,34112023- £153.1681
The Teachers, Pension Scheme ITPSI is a statutory. contributory. defined benefit scheme, governed by the
Teachers, Pension scheme Regulations 2014. Membership 15 automatic for teachers in academies. All teacher5
have the option to opt-out of the TPS following enrolment.
The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage
of salary- these contributions are credited to the Exchequer. Retlrement and other pension beneflts are paid by
public funds provided by Parliament.
The Government Actuary, uslng normal actuarlal prlnciple5, conducts a formal actuarlal review of the TPS in
accordance with the Public Service Penslons (Valuations and Employer Cost Capl Directions 2014 published by
HM Treasury every 4 years, The aim of the review is to specify the level of future contrlbutions. Actuarial scheme
valuation5 are dependent on assumptions about the value of future costs, deslgn of benefits and many other
factor5. The latest actuarial valuation of the TPS was carried out in 2020. The valuation report was published bv
the Department for Education In October 2023 and confirmed that the employer contrlbution rate forTPS would
increase from 23.6% to 28,6% from l April 2024. Employers are also required to pay a scheme administration
levy of 0.08% giving a total employer contribution of 28.68%.
15. Company Status
The company is limited by guarantee and has no share capital. The company is reg15tered in England. The liability
of the members in the event of a winding up is limited by guarantee to an amount not exceeding £2 per
member. Atthe balance sheet date there were 4 members12023- 51.
16. Allocation of the charlty net 055ets
The net assets are held for the various funds a5 follows-.
Fixed assets
Net current
assets
Long term
Total
Unrestricted funds
Restricted funds
3,822,933
1127,2771
1645.9901
3,049.666
3,822,933
(127,2771
1645,9901
3,049,666
18

Leehurst Swan Llmited
Notes to the Financial Statements
For the year ended 31 August 2024
17 Comparatlve statement of financial actlvttles
2023
Total
INCOME AND EXPENDITURE
Unrestrirted
Restrlrted
INCOME AND ENDOWMENTS FROM:
Charitable activities..
School fees receivable
Other income
2.118,397
82,000
2.118,397
82.000
Investment Income
Total income
2,200,397
2.200,397
EXPENDITURE ON:
Charitable attivities
2.081.268
2,081,268
Total expenditure
2.081,268
2,081,268
NET INCOME/(EXPENDITURE)
119,129
119,129
RECONauATION OF FUNDS:
Total funds brought forward at I September 2023
3,083,263
3,083,263
TOTAL FUNDS CARRIED FORWARD at 31 August 2024
3,202,392
3,202,392
CONTINUING OPERATIONS
None of the charitable company's attivities were acquired or discontinued during the current and previous years.
The notes form part of these financial ststement5
19

Leehurst Swan Limited
Detailed Income and expenditure account
For the vear ended 31 August 2024
2024
2023
Income:
School fees
Le5$:
Scholarships
Bursaries
Staff discounts
Sibling discounts
Early years grants
2.690.161
2,562.760
120,241
180,767
134.536
17,922
1622)
148,577
160,036
120.338
14.493
919
452.844
444.363
2,237.317
2.118,397
Other income
Registrations
Lettings
Wrap around care
Sundry receipts
Transport admin charge
Bank interest receivable
5,050
53,187
8,685
8,859
4,500
49,152
5.236
8,677
6.812
7,623
14,418
97,643
82,000
2,334,960
2,2(K),397
Expenditure
Curriculum
Payroll
Departmental expenses
ICT support
1,636,775
42,754
13,745
1,693,274
1,334,659
57.407
11,742
1,403.808
Administratlon
Staff - payroll
Consumables and 5undries
Equipment
Telephone, photocopier and postage
Subscriptions and licences
Staff advertising
Advertising
Hospitality
Trdining and general
Legal and professional fees- general
102.544
6,435
8.683
12,510
8,140
9,859
26.643
4,681
20.540
35,173
235.208
91,369
8,804
8,208
15.089
7,618
7.249
28,872
3.608
14,201
36.728
221,746
Carried forward
1.928,482
2.334.960
1.625.554
2.200.397
20

Leehurst Swan Limited
Detailed income and expenditure account
For the vear ended 31 Auwst 2023
2024
2023
Broughtforward
1.928,482
2,334,960
1,625,S54
2,200,397
Establishment
Staff payroll
Rates and water
Insurance
Light and heat
Building repairs, alterations and refurbishment
Cleaning supplies and consumables
Contact grass cutting and tree work
Repairs and renewals
Transport
Security and fire
126.814
42,764
33.061
66,389
38.407
6.055
7,507
856
34,324
5.069
118.468
34.488
33.004
34.326
18,109
5.794
5.733
2,420
28.344
3.227
361,246
283.913
Finance costs:
Bank charges
Bank loan interest
6,114
67.867
64,382
Other expenditure
Bad debt5
Uniform opening stock
Uniform closlng stock
15,240
(20,935)
15.6951
115,2401
115,2401
2,358,014
1,958,609
123.054)
241,788
Depreciation
Freehold property
Fixtures and fittings
Motor vehicles
106,297
22.715
660
106.297
15,481
881
129.672
122,659
Net Surplus/(Deficitl
1152.7261
119,129
21