COMPANY REGISTRATION NUMBER: 02435643 CHARITY REGISTRATION NUMBER: 803492 Grangewood Educational Association Company Limlted by Guarantee Unaudlted Flnanclal Statements 31 August 2024 Chartered Accountants Camburgh House 27 New Dover Road Canterbury Kent CT13DN Grangewood Educational Association Company Llmlted by Guarantee FinanGial Ststemants Year ended 31 August 2024 Page Trustees, annual report (incorporating the directors, report) Independent examiner's report to the dlrectors statement of flnanclal activities (including Income and expenditure account) Statement of financial posltlon 11 12 Statement of cash flows 13 Notes to the financial statements 14 Grangewood Educational Association Company Llmlted by Guarantee Trustees. Annual Report {Incorporating the Dlrectors, Report) Year ended 31 August 2024 The dlr8ctor8, who are also the dlrectors for the purposes of company law, present thelr report and the unaudlted flnanclal 8tat8ments of the charity for the year ended 31 August 2024. Reference and admlnlstratlve deta118 Reglstared charlty name Grangewood Educational Assoclatlon Charlty reglstratlon number 803492 Company roglstratlon number 02435643 Prlnelpal offlee and ro918torad Grangewood Independent School offlc6 Chester Road Forest Gate London E7 8QT The dlrector8 Mr J Agyeman Ms J E E JarvSs Indopendent oxamln8r Andrew Collyer Camburgh House 27 New Dover Road Canterbury Kent CT13DN Grangewood Educational Assoclation Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Directors, Raport) (conllnu•dJ Year ended 31 August 2024 Structure, governance and management The Charily Is conti'olled by ils Memorandum and Artlcles of Assoclation and con8￿tu18s a Ilmited company, limited by guarantee as defined by the Companies Act 2011. The Councll of Management, who were the trustees and dlrectors who served throughout the year September 2023 - August 2024, were: Mr J. Agyeman (Chalr) Ms J. Jarvis (Trustee l Direclor) It has been another financially challenglng academlc year for the charity, with our pupil numbers remainlng the same for the maln school, however the number of our SEND puplls Increased sllghtly, Some of the challenges included delays in the settlin9 of Involce by our debtors, whlGh often led to addltional short term interest free loans being secured vla helpful supporter8 to help brldge the shortfall, The governm8nt's decislon to charge VAT on Independ&nt schools fees from Jan 2025 has also caused anxlety among the parents and will unfortunately result In a reducllon In our pupll numbers for the nexl academic year, The Impact of Cost-of-llving Crlses contlnu8S to affect a numb8r of famllles, nevertheless, the charlly has provlded the required support to ensure the welfare, safeguardlng and educating of the pupils at the school remain our primary ob}ectlve. The trustees, governors, leachers, anclllary staff and external supporters of the school have remalned commilted, devoted and dedicated to providlng and malntainlng the high standards expected at the school throughout this period, The trust 8nd support of our parents has been cruclaS durlng these challenging limes, and their trust and bellef in the Charity has been a great source of strength and encouragemant, Signlflcant Increases in our staffing cost, rent, Insurance, business rates and utilltles, coupled wlth limlled Increases in our pupil numb6rs due to the ongolng "Cost-of-livlng Crlses" has led to an increase in our deficit. Our cashflow remains extremely tight and any further delay in the settling of Involces from our debtors In the next academic year could potentlally result In the closure of the schoollcharity, The Truste8s and Board of Governors for the perfod from the 1 st September 2023 to 31 Augusl 2024 were as follows,, Mr J. Agyeman {Chalr) Pastor D. Meade (Minlster of local Baptlst Church) Ms A. Green (Parent Governor & Physiclst) Ms L. Bannls (Secondary teacher and head of departmenl> Ms S. McDonald (Parent Governor & office admlnlstrator) Mr Blankson (Teacher) Mr Roberts (School Business Manager) Mrs Roberts (Head Teaclierl Our efforts to recover the school to Ihe pra-march 2018 pupil numbers remalns challenging, as the economlc climate, Increases in the operallonal cost and réputallonal damage caused by the action of the previous trustees continues to impact the operatlons of the school. We are however very grateful for the exiraordlnary level of commltment, devotion, hard-work and determlnatlon of all the people passionate about Grangewood Independent School. Grangewood Educational Association Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (¢onllnu¢dJ Year ended 31 August 2024 StYuctur81 governance and management (¢ontli?uedJ Vlslon & M188lon Statement Grangewood Independent School was founded In 1979, and is an Independent, co-educatlonal school that provides a unique and multi-faceted educational experience for chlldren of all falths, from two to eleven years old. 'The attainment of puplls of all ages and abililles Including those with SEND or EAL, aiid those who are more able, Is good, In the Early Years Foundation Siage (EYFS), the chlldren re8¢h the expected levels of development, and In many cases, exceed them. Nallonal and slandardlsed assessments In Engllsh and mathematics show thal the small cohorts of pupils achleved above average results. The small slzé of the school and the family atmosphere enable staff to know pupils well and ensure that pupils, Indlvldual needs are met, They mak8 good progress because teachers Iiave a good l(nowledge of their strengths and weaknesses; as a result, puplls are aware of their Sndivldual largets from the frequent feedback they receive. 'Overall puplls, attainment is above ago-related expectations, so that pupils successfully gain places at senlor school wlth compelltlve entry requlrements., (Quote from last ISI Integrated Inspectlon of Gr8ng8wood Independent, Sept 2023). The vlsion of Grangewood is,to establish a truly carlng communily to act as an extended famlly engenderlng mutual standards and objectives to foster pleasure in all achievements: 'Unlocklng Potential with Excellence as our Hallmark, thus Insplrlng success, developlng excellence, forrnlng character and nurturlng dllig8nce. The SGhool'8 educatlonal provlslon contalns values which mlrror Christlan truths and are In accordance wlth the Article¥ of Fallh, We malntaln that the principles of FAITH, GROWTH, INDUSTRY, CARE and DISCIPLINE should be promoted In every pupll. Mlsslon Statement Grangewood Independent School was establlshed to promote; FAITH - A falth Iii the Lord Jesus Chrlst In every pupil that will equip them emotlonally, splrftually and socially to face all of life's challenges, GROWTH Growth 18 fostered in pupils by providlng increaslng opportunltles for acceptlng responslbility during thelr passage through the School. Puplls are given the opportunity to move into leadership roles in Ihe academic, sporting, cultural or admlnlstrative aspects of the School. INDUSTRY Industry Is practlrAd through a challenging academlc programme offered to puplls through the currlculum, th8 development of physlcal aolllly through sport and the promotion of cre.atlve and artistic abllllles, CARE - Care is an essentlal parl of Grangewood Independent. The School's pastoral programme reflects many of the traditlonal moral valu8s and seeks to support the famlly unlt and to teach Chrlstlan values, DISCIPI.INE Disclpline Is a valued Ingredient at Grangewood, The standards are clearly defined through school culture and expressed In'a policy that reco9nises the rights of every Indlvidual to fe81 safe, comfortable and free to achieve the highest levels of success In each part of the many facets of school Ilfo. The key to the maintenance of ttils environment al Grangewood is the development of self- dlscipllne 8nd an appreclation of others, Grangewood Educational Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) fconllnu¢dJ Year ended 31 August 2024 Structurei governance and management (eonllnued) Organlsatlonal Structure The Assoclatlon Is a reg19tered charlty wllh a Chrlstlan ethos and is managed by the Board of Trustees. The Associatlon wholly owns Grangewood Independent School. The school is managed by the 8oard of Governors who are appolnted by the trusteeg of the asso¢latlon. The Governors are responslble for the day-lo-day management of the school as prescribed in the governors, con8titullon and subject to the overview and approval of the Érustees, ObJe¢tlves and aotlvltles Our Alms: The school is dedicated to the provislon of quality primary edu¢allon In a deprived area of E8sI London. To promote and teach Christian values wilhln the framework of a structured curriculum. To teach the values of soclal responslbillly and respect for others thus Improvlng the quality of good Gitlzenship within the community. To provlde a slruciured educational environment that wlll ensure that puplls develop their competence and skills {academlc, art18tlc, linguistlG, and musical) to the 51mit of thelr abillty. To promote heallh and fltness of puplls by Including physical exercise and organ18ed sport activltles both within the curriculum and in out-of-school events, Our ObJectlv8S: In seltlng out objectlves and plannlng aclivllles, the Trustees and Governors have glven due conslderatlon to the Chari118s Commlssion's guldance on public beneflt. To raslrlct class slzes lo a maxlmum of 20 chlldren per cl888 thus enabllng a hlgh level of Individual pasloral care and educatSonal tultion. To enhance and improve before and after school care provlslon for children. To Increase numbers of puplls on roll and by so doing increase income to a level whlch wlll allow some flnancial aKS being offered lo those famllles who cannol afford the golng rate of fees charged. To increase our involvement In community regeneratlon activities, To allow use of our school premises for sultable communlty andlor oharltable purposes,new Ilne] To continue collaboration wlth local counclllors, local authority and partnerships to improve state educalion and soGial moblllty, Grangewood Educational Association Company Limited by Guarantee Tr.ustee8' Annual Report (Incorporating the Dlrectors. Report) (conllnued) Year ended 31 August 2024 ObJ6ctlves and actlvltles (Contlnuedj Ethos, Strategy and Pollcle8 Grangewood Independent Is a school wilh a Chrlstlan ethos, 1118. a requlremÈnt.thet all, Trustees, Governors and staff ,protect and enhance thls ethos, Children from .olher.faSth badkgrounds -are welcome as pupils at Grangewood, provldlng Ihai thelr parentslguardlan? are.aware of and aocept our Chrlstian ethos. All chlldren will be glven Ihe same level of carp and altentlon regardless of ,thelr fallh, race, gender, or sexLial orlentatlon. The-Board of Trustees hgve overall responsiblllty for ensurlng that no no school a¢llvllies are In conflict wlth our published ethos. Matters relallng lo. operatlonal procedures, melhods and all.olhei pperational. actiiiltles wlll be dealt wlth by the Board of Governors. Signlficant Items 8greed by Governors may be presented to the trustees . for approval at the dls¢retlon of the chalrman of the governors, Trustees c1nd Govornors wlll regularly revlow, plan and sanction where applicable the followlng,. Currl¢ulum Content, teachlng practloea and performance and examlnatlon rèsults Pro and post school day cal'e provi%lon CommunSty prolecls in whlch we wlsh to participate Investments in Ihe resources and Infrastructure of the school Staff remuneration School fees adlustment8 and dleJcounts Development of method for awardlng bursari6s when Ihls becomes,affor.dable S¢hool development and promotlon plans Grang8wood Educallonal Assooiatlon is a charitable trust which seeks - to beneflt. the .communlty through the puiyuit of Its stated aims. Our fees are set at the minimvm level needed to attract suffiGient student n(Imbers In an allempt to ensure the financlal viability of Grangewood School and at a Sevel that is conslstent with our alm to provide a first-class educatlon to both boys and glrls of prlmary school age. To admit a prospeGlive i)upil, we need: lo be satisfled that we wlll be able lo educate and develop th8l pupll to the b68t of their potC4ntial 8nd in Ilne wllh the general standards achleved by thelr peers. To thls end, entrance InteNiew and classrooin assessments are undertaken to satitsfy ourselves and parents that the child can cope wltl) the pace,,of learnlng and benefit from the education that we provide. Gender,'elhnicily, r¢lC8, religlon, dlsabllily,, or economic status of parentslguardlans do not form part of our 2sse8smenl pro￿d￿reS. We are an equal opportunlty organlsatlon and are commltted lo a worklng environment that is free from any form of dlscrimlnallon. Grangewood Independent School Is Commltted to safeguarding and promoting th6 welfare of its puplls. All staff and volunteers are expected to share this coinmllment and are helped throLigh tralnlng and sound governance lo acllvely play thelr part In protecllng children from harm and promotlng Ihelr welfare. We are committed to provlding a safe and secure envlronment for le8rnlng 8nd have a zero-tolerance policy on all forms of bullylng and antl-soclal behaviour, All staff and volunteers are commltted to these princlples, We are 8ccrediled by the Independent School Assoclation (ISA) and are Inspected by the Independent Schools Inspectorate {ISI). Grangewood Educational Associatioh Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) fcontlnued) Year ended 31 August 2024 Oblectlvas and actlvltles {conllnued) Access Pollcy We are exploring new and innovative ways of offerlng access to the school to all of th8 local community regardless of ability to pay, We have Investlgated supplementlng the hours included in Ihe Government funded Early Years Chlldcare scheme in every altempt to increase accessibility, as well as planning to spearhead projects which wlll benefit the community and generate sufficient surplus Income to Increase the number of bursaries avallable at the school. In order to make It posslble for as many lower Income famllles as possible to benefit from the servlces of the school, we have elected lo keep our base fe8 structure at a level whlch Just recovers our total operating cost. Fee increases are measured to minimlse any adverse Impact on our currenl populatlon and make the school less affordable lo a number of famllles who currently support the school. Some of our parents already make personal sscrlflces In order to meet the charges, Rlsk Management The Trustees understand the duty they have to identlfy and revlew the rlsks lo whlch the Associallon is exposed and to ensure approprlate controls are In place to provlde reasonable assurance against fraud and error, strateglc report The followlng sections for achlevements and performance and flnanclal revlew form the strateglc report of the charlty. Achievements and performance End of Key Stage Outcomes 202312024: Durlng 2023124 our Reception data (Early Years Foundation Stage Profile dala) was moderaled by the Local Auihorlty (Newhaml and KS2 SATS and wrlting was moderated by Hackney Local Authority. EYFS - Expected 60% KS1- Expected 100% KS2 - Expected 93.4¥0 The education on offer at Grangewood means that we are able to stretch the more able and gulde our students ta hlgher-than-expected progress, as well as successfully turning around chlldren who transfer from other schools with behavioural or SEN needs, Secondary School Transltion8: 870/0 of students entered for 11+ examlnalions recelved pass grades and were offered Grammar school places. 100010 of studenls entered for Common Entrance examlnatlons recelved pass marks and were offered scholar8hlps and bursarles at their first-choice schools. PE & Sport. All students from EYFS to Y6 contlnued lo enjoy 8 dlverse array of fully inclusive In-house sports and P.E. opportunltles. Grangewood Educational Association Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Dlrectors. Report) (eonllnued) Year ended 31 August 2024 (conllnu&dJ Nur&ery Provlslon.. We contlnue to offer part-lime two.year-old provlslon, flexlble "?0 hours. of free.childcare" for working pai'ents of three- and four-year olds and Increased wrap around care through our Extended Hours Clubs, which have Increased our accesslblliiy for local familles. Scliool Travel Plan: The promotlon of cycllng, scootlng and walklng as healthy, environméntaiiy friendly, and fun ways to get to school remaln a central part of our School Travel Plan: PSHE & C,Itlzenshlp'. Our Year Flve and Year SIX student8 continue to partlclpate; In N w,h support local primary school pupils In developlng a better unders and Easter. m's.Falth In Schools project and ing:of'events such as Chrlstmas SF.N Resource Provlslon: Slnce the Introductlon of our specialist resource provislon for chll¢ren wllh autism. al the.end of 2021, the number of puplls within the provlslon h8s grown steadily, along with tha number of staff. Our unlt provides 1..1 indivlduall$od Ejducatlon for children in Year 1 to Year 6 arid can accommodate up to 16 pupils, uslng preclse teaching methodology, which documenls,:the number.of.skllls learned each week, and regular analysis of the fsata to facilltate contlnual pupll progress. 'Leader8 ensure that the effectlve provlsion for pupils who have SEND Is. dellvered by experlenced p.r?ctitioners,, Leaders and teachers have developed comprehen*oive and effective support prOgra￿￿eS, which aro carefully matched to th8 Indlvidual and specific needs of each pupil. Tliese include the support, where approprlate, of speclfically tralned therapists., (Quote from last ISI Integrated Inspecllon pf,Grgngewood Independent, Sept 2023), Llnks: Students spent another year ralsing.funds for local charltles through Book character Fund ralsing and non-unlform days. We have well establlshed Ilnks with local universities and further education colleges. Flnanclal revlew The attached flnanclal statements tog6ther wlth notes show the Incoming and outgoing sources for the year and state of affalrs at the Bal8nce-Sheet date. Nel deflclt for.the year was £99,084 (2023 - net deficlt for the year was £12,411). The prlnGlpal source of income was school fees whlch represented around 950h of total incomlng resources. Included In the remainlng income was,, £ 33,325 Other Income (Rental, Musl¢, elc) £ 9,694 School Meals Income £ 40 Donations Grangewood Educational Association Company Limited by Guarantee Trustees. Annual Report {Incorporating the Dlrectors. Report) (conllnued) Year end8d 31 August 2024 {¢ontlnuadJ Appllcation of Funds.. As an educational charity, for the perlod covered by th18 set of A¢¢ounts (Sept 2023 Aug 2024), the Assoclation enjoyed lax exemptlon on acllvitles, provlded that these benefits are applied towards charitable aims, The Assoclatlon also received a reduction In buslnes8 rates, The financlal benefits of these exemptlons are applled for educational purposes. Reservas Pollcy The charlly alms to malntaln reserves of £370,000 lo ensure sufllclent funds to Gover the rent and operational costs for two school term8., however glven the financlal pressures that the school has recently experlenced, we have reduced the reserves down lo £200,000 In order lo allow us some flexibility lo manage cashflow challenges, This target Is currently not being met but plans are In place to turn thls around and improve the position golng forward, Trustees, re8pon61bllltle8 Statement The trustees, who are also directors for Ihe purposes of company law, are responsible for preparing the trustees, report and the financlal slatemonts in accordance wlth appllcable law and Unlted Kingdom Ac¢ountlng Standards (United Klngdom Generally Accepted Accountlng Practice). Company law requlres the charlly trustees to prepare ftnanclal statements for each year whlch give a true and fair view of the state of affairs of the charitable company and the incoming resouroes andresources and appllcallon of resources, including the Income and expendlture, for that period. In preparing these financlal stalements, the trustees are requlred to., select suitable accountlng policies and then apply them Conslstently; observe the methods and prlnciples In the appllcable Charlties SORP; make Judgments and accountlng estlmaies that are reasonable and prudent,, prepare the financial slatements on the going concern basis unless il Is inappropriate lo presume that the charity will continue in buslness.. The Iruslees are responslble for keeplng adequate aGcounling records that are sufflcient to show and explaln the Charity's transactions and dlsolose with reasonable accuracy at any tlme the financlal position of the charity and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006, They are al60 responslble for safeguardlng the assets of the charlty and hence for taking reasonable steps for Ihe prevention and d6tectlon of fraud and other Irregularllles. The twstees, annual report {Incorporatlng the directors, report> and the strategic report were approved on. and slgned on behalf of the board of trustees by: Mr J Agy6man Dlrector MSJE Dlrector Ja￿1 Grangewood Educational Association Company Llmited by Guarantee Independent Examiner'8 Rèport to the Director8 of Grangewood Educatlonal Association Year ended 31 August 2024 I report to th6 dlreclors on my examlnatlon of the financlal statements of Grangewood Educational Assoclation {'the charity,) for the year ended 31 August 2024. Rè8ponslbllltles and basls ol report As the charlty's trustees of the Company (and also its dlrectors for the purposes of company law) you are responslble for the preparatlon of the accounts In accordance wlth the requlrements of the Companles Aot 2006 ('Ihe 2006 Act,). Havlng satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2016 Act and are ellgible for Ind8pendent examlnation, I report in. respect. of my examinatlon of your charity's accounts as carrled out und6r sectlon 145 of the Charltles Act 2011 ('the 2011 Act,). In carrylng out my examlnatlon I have followed the Directlons glven by th8 Charlly Commlsslon under sectlon 145{5) (b) of the 2011 Act. Independent 6xamlner's quallfled statement Slncè the ¢harity's' gross Income exceeded £250,000 your"ekamlnaV:must.'be 'a member of a body Ilsted in section 145, of Ihe .2011 Act, I confirm that l aiii'quallfled to uhdehake the examination because l am a mamber of the Instltute of Chartered Accountants England. and Wales (ICAEW), whlch is one of the Ilsted bodles. Grangewood Educational Association Company Limited by Guarantee Independent Examlner's Report to the Directors of Grangewood Educational Assoclation (conllnuod) Year ended 31 August 2024 The accounts have been prepared on a golng concern bas18, however, as noted on page 18 there is a material unc6rtainly regarding golng concern. I note that the trustees are taking mitigatlng actions lo Improve perforrnanee, but am unable to conflrm whether Ihl8 will be sufflcleiit lo recover.the negative funds posltion and ensurè liabilitles are liièt as they fall due. l also note that If a basls other than golng concern were to be used, thls Woold not materSally affect the value of the assel8 and Ilabllltles in the flnancial sl&lements, As, su¢h my opinlon for the Independent examlner's report remains unmodified. I have completad my exAmlnatlon. I conflrm that no other matter.s have come to my atlentlon In connection with the examlnallon givlng me cause to believe,., {1) accounting records were not l(ept in r@spect of the company.as requlred by sectlon 386,of the 2006 Act., or {2} the accounts do not dccord wlth those accounting records., or (31 the accounts do not Comply with the accountlng requ1￿MentS of sectlon 396 of. th8 2006 Act-other thali any I'eqLiiroment that the accounts glve a 'true and faiv view. whlch is not a matter consldered as part of an Independent examln81ion', or (4) tho accounts havo not been prepared In accordance Wlth the melhods,and principles.of the Statement of ReGoinmended practice for accounllng and reporting.by charlties,. I have no concerns and have come across no matters, other than the materlal uncertalnty In respect of. going concern, In connection wlth the examination lo whlch. attention should be drawn In this report In order to enable a proper uiidérstanding of the accounts to be reached. Andrew Collyer Independent Examiner Camburgh House 27 New Dover Road Canterbury Kent CTI 3DN 10 Grangewood Educatlonal Association Company Limlted by Guarantee Statement of Flnanclal Actlvitle8 (Includlng Income and expendlture account) Year ended 31 Augu8t 2024 2024 Unrestrlcted funds Total fund8 Total funds 2023 Not Income and endowments Donatlons and legaGles Total InGom6 855,817 855,817 855,817 855,817 813,085 813,085 Expendlture Expendlture on ralslng funds; Costs of raislng donatlons and legaclas Expendlture on charltable actlvllles Other expendlture Total •xpendlturo 269,532 269,532 243,265 {672,619) (672,619) {580,855) 2,150 2,150 1,376 944,301 944,301 825,496 10 Net 8XP6ndlture and net movement In fund8 (88,484) (88,484) (12,411) Récon¢lllatlon of lunds Total funds brought fO￿ard Total fund8 Carrled lO￿ard (114,920) (114,920) {102,509) (203,404) {203,404) {114,920) The statement of finan¢lal adi￿tieS Includes all gains and losses recognised in the ye8r. All Income and expenditure derlve from continuing actlvities. The nots8 on pag98 14 to 21 fomi part of thèse flnan¢lal statemants. Grangewood Educational Association Company Llmlted by Guarantee Statement of Flnancial Posltion 31 August 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 175,960 39,239 71,241 -215,199 .108,725 Credltors: amounts falling due wlthln on8 year Net current 41abllltles .418,603 ,223,645 .203,404 114,920 (203,404) .{114,920) . (203,404), {114,920) Total assets less ¢urront liabilities Net Ilabllltles Fiinds of tho charlty Unrestricted fund8 (203,404) {114,920) (203,404) . '<1.14,9201 Total charlly funds For the year endlng.31 August 2024 Ilie charlty was entitled to exemptlon from audlt.under sectlon 477 of Ilie Companles A¢t 2006 relatlng to small companles. Dlrectors, responsibllities: The mpmbers have not required the company lo obtain an audlt of It8 fin8nGial statements for the year in question in accordance wlth sectlon 478,. I"he clirectors acl