The academy trust operates an academy for pupils aged 3 to 7 serving a catchment area in Eaton Ford, St Neots. It has a pupil capacity of 439 and had a roll of 298 in the school census on 16 May 2024.
The charitable company operates as Crosshall Infant School.
The trustees of Crosshall Infant School Academy Trust are also the directors of the charitable company for the purposes of company law. Details of the trustees who served during the year, and to the date these accounts are approved, are included in the Reference and Administrative Details on page 1.
Each member of the charitable company undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10, for the debts and liabilities contracted before they ceased to be a member.
As part of the overall insurance cover taken out, the trust has taken out insurance relating to trustees' indemnity. The limit of indemnity cover is £5,000,000 in this respect.
The management of the academy is the responsibility of the trustees, who are elected and co-opted under the terms of the Articles of Association and Funding Agreement as follows:
Up to 17 governors
Up to 1 local authority (LA) governor
A minimum of 2 parent governors
The headteacher
Any governors elected by the Secretary of State for Education
Co-opted governors and additional governors as necessary
The governing body is comprised of 8 community governors, 5 parent governors, 3 staff governors and a local authority (LA) governor.
Parent governors are elected by parents of registered pupils at the academy at the time of the election. The headteacher’s term of office runs parallel with their contract of employment whilst other staff governors are appointed by governors following an election process.
The LA appoints the LA Governor. No governors were co-opted nor were any governors appointed by the Secretary of State during 2023/2024.
The term of office for any trustee is 4 years. Subject to remaining eligible to be a particular type of trustee may be reappointed or re-elected.
The training and induction provided for new trustees will depend on their individual experience and expertise. Where necessary an induction will provide training on charity and educational, legal and financial matters. All new trustees are given a tour of the academy and the chance to meet with staff and students. All governors are provided with copies of policies, procedures, minutes, budgets, plans and other documents that they will need to understand their role as trustees and directors of the academy.
The governing body subscribes to Cambridgeshire Governor Services who provide, facilitate or coordinate most of the training undertaken. A programme of face to face and on-line training opportunities is advised on an annual basis for Governors to attend as they see fit. In addition, a whole governing body training session is held following the first governing body meeting in each academic year.
The academy has established a management structure to enable its efficient running. The structure consists of two levels: the Governors and the Senior Leadership Team.
The governing body has considered its role thoughtfully and decided that the role of the governors is to approve the strategic direction and objectives of the academy and monitor its progress towards these objectives.
The governing body has approved a scheme of delegation which sets out a statement on the system of internal control, responsibilities, standing orders, a scheme of delegation and terms of reference. The headteacher is directly responsible for the day to day running of the academy and is assisted by a senior leadership team.
Governors are responsible for setting general policy, adopting an annual plan and budget, monitoring the academy by use of budgets and making major decisions about the direction of the academy, including capital expenditure and senior staff appointments.
The headteacher assumes the accounting officer role.
The academy has a whole school pay policy which details the arrangements for setting the pay and remuneration of all staff. The governing body delegates pay decisions to the Governing Body Review Committee who implement the whole school pay policy.
The board has delegated the arrangement for setting the pay and remuneration for the headteacher and senior leaders to the Pay Review Committee whose members comprise three trustees and the chair of the trust. This committee reviews the performance of the headteacher and senior leaders and ensures that succession planning is in line with the plans of the trust.
This committee also sets the band of annual pay increased for all staff as guidelines for each of the academies pay committees. The trust's scheme of delegation sets out the responsibility for pay increases for all staff to the headteacher and the Pay Review Committee.
Trade union facility time
The trust have no relevant trade union officials.
The academy is the founding member of the Crosshall Infant School Academy Trust which is a separate trust where Crosshall Infant School Academy is the only member. The trust undertakes educational support activities.
The principal object and activity of the academy is the operation of Crosshall Infant School Academy Trust to provide a broad and balanced education for pupils of all abilities in the St Neots, Cambridgeshire area. The governors have referred to the guidance issued by the Charity Commission in respect of public benefit when reviewing the aims and objectives of the academy.
In accordance with the articles of association, the
The Scheme of Govern
Our Mission Statement is ‘Learning for Life’.
To achieve our mission statement we have developed the following aims:
Promote positive partnership with the wider community
Build trust, support, consideration and respect for all
Promote enjoyable learning opportunities to promote learning through first-hand experience
Provide a challenging, stimulating, safe and secure environment
Work together as a team (children, staff, governors and families)
Develop confident, independent learners and successful, healthy and responsible citizens
Have high expectations, strive for excellence and enable the children to achieve their potential
Promote equal opportunities for all children to develop skills and achieve success
Encourage the children to develop their independence, curiosity and become creative thinkers
Promote the wellbeing of all children and staff
For 2023/2024 the key areas for development within our School Improvement Plan were:
Curriculum Development
To review assessment at the end of Key Stage 1.
Human Resources
To ensure that new teams work effectively.
Management Structures and Approaches
To effectively manage the budget with falling rolls in school and nursery.
Pupil Welfare
To ensure that the behaviour is excellent at all times within school.
Nursery and Kids Club
To develop links with the wider community.
Physical Resources
To continue to develop resources and the curriculum with a limited budget.
All staff are aware of our key priorities. These targets are reviewed termly by the senior leadership team and discussed at full governing body meetings.
In setting our objectives and planning our activities, the trustees have carefully considered the Charity Commission’s general guidance on public benefit.
We work closely with parents to develop and improve the school. Parents have the opportunity to feedback to staff, via the website and through formal consultation. The information gathered from parental feedback has contributed to our School Improvement Plan.
Parents have contributed their opinions about the school via a questionnaire. Parents attend consultation meetings each term and receive an annual, written report outlining their child’s progress in the summer term.
The academy manages Crosshall Kids Club. The kids club provides high quality before school, after school and wraparound day care.
We have a ‘Friends of Crosshall’ scheme, which encourages local businesses to become involved with the school.
The academy has well established links with local churches. The children participate in local events and hold fundraising activities to support charity work.
The academy recognises that equal opportunities are an integral part of good practice within the work place. The academy aims to establish equal opportunities in all areas of its activities including creating a working environment in which the contribution and needs of all people are fully valued.
A hygiene suite, ramps and disabled toilets are installed and door widths are adequate to enable wheelchair access to all main areas of the academy.
As an academy we make the best use of our skills, expertise and experience with regards to the community. Some examples of this are:
Raising money for local, national and international charities
Working as part of the St Neots Forum to provide high quality education for all the children in our local area.
The chart below shows the percentage of children achieving each standard in June 2024.
We are very proud that the children of Crosshall Infant School achieve such high standards. Thank you to all the children, staff and parents who work so hard to achieve this success.
The children in our school are achieving significantly higher than the national average and achieving excellent standards of reading.
Summary of Key Stage 1 outcomes:
|
| Reading | Writing | Maths | Reading, Writing and Maths |
Crosshall Infant School Academy Trust
| WTS | 19% | 21% | 8% | 25% |
Crosshall Infant School Academy Trust
| EXS | 39% | 57% | 79% | 73% |
Crosshall Infant School Academy Trust
| GDS | 53% | 17% | 13% | 9% |
Key to Teacher Assessment Results: all figures are percentages.
WTS is awarded if the pupil is working towards the expected standard.
EXS is awarded if the pupil is working at the expected standard.
GDS is awarded if the pupil is working at greater depth within the expected standard.
Year 1 Phonics Screening 2024
The phonics screening check is a short assessment carried out in the summer term of Year 1 and is designed to confirm if children have learnt phonic decoding to an appropriate standard. All Year 1 children in maintained schools, academies and free schools must complete the check.
Any children who do not achieve the phonics screening check in Year 1 will retake the check the following year in Year 2.
The percentage of children achieving the required level in the test are detailed below:
| Year 1 % Reaching Expected
|
Crosshall Infant School Academy Trust
| 76% |
National | 80% |
Review of Activities
The year 2023/2024 was another year of development, with the following significant achievements:
PE quality mark achieved.
External providers used to enhance the curriculum in areas of the school including: visiting a farm, zoo keeper from Woburn, reptile experience and museum visitors.
Curriculum reviewed to ensure we meet statutory duties.
Staff professional development plan adapted to meet the change of needs in school.
The school is rated as good by Ofsted.
The school have acted on the area for development highlighted in the Ofsted report. Staff have received training to ensure high quality teaching is occurring. Staff are flexible, hardworking and have shown a positive attitude towards small changes in order for us to continue to strive forwards.
After making appropriate enquiries, the board of trustees has a reasonable expectation that the academy trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, the board of trustees continues to adopt the going concern basis in preparing the accounts. Further details regarding the adoption of the going concern basis can be found in the statement of accounting policies.
The trust does not hold any investments.
The trust is exposed to a number of financial risks including credit, cash flow and liquidity risks. Given the trust's exposure to financial instruments being limited, the exposure principally relates to bank balances, cash and trade creditors, with limited trade (and other) debtors. The trust's system of internal controls ensures risk is minimal in these areas.
A risk register has been established and is updated regularly. Where appropriate, systems or procedures have been established to mitigate the risks the trust faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects.
The trustees have assessed the major risks to which the trust is exposed, in particular those relating to the specific teaching, provision of facilities and other operational areas of the trust, and its finances. The trustees have implemented a number of systems to assess risks that the academies face, especially in the operational areas (e.g. in relation to teaching, health and safety, bullying and educational visits) and in relation to the control of finance. They have introduced systems, including operational procedures (e.g. vetting of new staff and visitors, supervision of school grounds) and internal financial controls (see below) in order to minimise risk. Where significant financial risk still remains they have ensured they have adequate insurance cover.
The trust has an effective system of internal financial controls and this is explained in more detail in the Governance Statement.
It should also be noted that procedures are in place to ensure compliance with the health and safety regulations, pertaining to both staff and pupils.
The trustees are also fully aware of their responsibilities to ensure that the trust’s estate is safe, well maintained and compliant with the relevant regulations.
The school has a staff fundraising committee which is supported by parents. In the 2023/2024 academic year £2,366.40 was raised for a variety of charities. £7,026.12 was raised for developing the school facilities. This includes books and resources for outside.
All fundraising activities are processed through the School Fund Account, reported to the Finance and Audit Committee and audited by Mitchell Charlesworth.
The trust engages in fundraising activities throughout the academic year, both for specific projects and to augment the annual education budget.
Due consideration is given at all times to ensuring that no fundraising practices are unreasonably intrusive or apply undue pressure especially with regard to vulnerable persons.
The trust's plans for the future include:
Priority 1
To continue to ensure the quality of education across the school is consistently good:
Monitor impact on timetable changes
Teachers to have a clear understanding of childrens' gaps in phonics
Utilise whole school writing moderation
Ensure provision matches targets for children with EHCP's & pupils recorded on SEND register.
Priority 2
To stabilise the school’s financial situation:
Stabilise school intake of 90 per year group
Work closely with available financial services
Investigate alternative support staff structures
Ensure purchasing is kept to a minimum
Carry out due diligence on shortlisted MAT.
Priority 3
To improve the impact of curriculum leadership:
Update subject leader understanding
Staff to complete and carry thorough an action plan for their subject
Senior leadership team will support and challenge curriculum leaders appropriately
Ensure the coverage document for their subject is up to date.
Priority 4:
For all stakeholders to consistently implement the new behaviour policy:
All staff receive therapeutic thinking training
Staff are clear about the behaviour expectations in school
New PSHCE lead has up to date knowledge of current policies.
The trustees' report, incorporating a strategic report, was approved by order of the board of trustees, as the company directors, on
As trustees, we acknowledge we have overall responsibility for ensuring that Crosshall Infant School Academy Trust has an effective and appropriate system of control, financial and otherwise. However, such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives, and can provide only reasonable and not absolute assurance against material misstatement or loss.
As trustees, we have reviewed and taken account of the guidance in DfE's Governance Handbook and competency framework for governance.
The board of trustees has delegated the day-to-day responsibility to the headteacher, as accounting officer, for ensuring financial controls conform with the requirements of both propriety and good financial management and in accordance with the requirements and responsibilities assigned to it in the funding agreement between Crosshall Infant School Academy Trust and the Secretary of State for Education. The accounting officer is also responsible for reporting to the board of trustees any material weaknesses or breakdowns in internal control.
The information on governance included here supplements that described in the Trustees' Report and in the Statement of Trustees' Responsibilities. The board of trustees has formally met 4 times during the year.
The Governing Body has a structure of subcommittees who met regularly and feedback to the full governing body meetings. In 2023-2024 there were 14.
Attendance during the year at meetings of the board of trustees was as follows:
Whilst there has been a number of changes to the board during the year, the board are are satisfied with it's role and the performance of the trust.
Trustees complete an annual declaration of business interests and at the beginning of each meeting are requested to provide an update of this and declare whether a relevant interests apply against meeting agenda items.
Governors complete an individual annual audit as well as sub committee annual audits. The audits are used to write the detailed School Improvement Plan.
All governors are linked to a curriculum area and work closely with the staff lead on key areas of development focusing on OFSTED criteria that enable us to measure our effectiveness over time. Regular visits, with observations and discussions with staff and pupils take place. Progress is measured and evidenced against school improvement priorities are set. Subject leaders make regular presentations to governors with regards to standards and developments. The process enables the governing body to have first-hand knowledge across a number of key areas and to challenge with understanding, the senior leadership team, calling them to account for the work and the progress of the school.
The finance and audit committee is a sub-committee of the main board of trustees. It’s purpose is to monitor the finances of the academy and ensure that funds are used for the purposes intended.
Attendance at meetings in the year was as follows:
As accounting officer, the headteacher has responsibility for ensuring that the academy trust delivers good value in the use of public resources. The accounting officer understands that value for money refers to the educational and wider societal outcomes, as well as estates safety and management, achieved in return for the taxpayer resources received.
The accounting officer considers how the academy trust’s use of its resources has provided good value for money during each academic year, and reports to the board of trustees where value for money can be improved, including the use of benchmarking data or by using a framework where appropriate. The accounting officer for the academy trust has delivered improved value for money during the year by:
The academy is committed to providing value for money via purchasing in terms of suitability, efficiency, time and cost and developing competitive tendering procedures.
The academy has adopted the established principals of challenge, compare, consult and compete.
Tendering procedures are in place for not only high value items (over £30,000) but for those items in the category £2,000 and £30,000 and for all service contracts. These are reviewed at meetings of the governing body finance and audit and property committees.
The academy also works with the adjacent junior school to share best practice, develop synergies and obtain economics of scale. Some examples of this are:
A shared grounds maintenance plan that replaced the previously separate contracts and thus reduced costs.
Sharing of utility contracts enabling economics of scale.
The majority of service contracts are shared between the schools which helps implement the four principals above.
The site managers of the schools work closely together to reduce duplication of effort.
The system of internal control is designed to manage risk to a reasonable level rather than to eliminate all risk of failure to achieve policies, aims and objectives. It can therefore only provide reasonable and not absolute assurance of effectiveness. The system of internal control is based on an on-going process designed to identify and prioritise the risks to the achievement of academy trust policies, aims and objectives, to evaluate the likelihood of those risks being realised and the impact should they be realised, and to manage them efficiently, effectively and economically. The system of internal control has been in place in Crosshall Infant School Academy Trust for the period 1 September 2023 to 31 August 2024 and up to the date of approval of the annual report and accounts.
The board of trustees has reviewed the key risks to which the academy trust is exposed together with the operating, financial and compliance controls that have been implemented to mitigate those risks. The board of trustees is of the view that there is a formal ongoing process for identifying, evaluating and managing the academy trust's significant risks that has been in place for the period 1 September 2023 to 31 August 2024 and up to the date of approval of the annual report and accounts. This process is regularly reviewed by the board of trustees.
The academy trust's system of internal control is based on a framework of regular management information and administrative procedures including the segregation of duties and a system of delegation and accountability. In particular, it includes:
comprehensive budgeting and monitoring systems with an annual budget and periodic financial reports which are reviewed and agreed by the board of trustees;
regular reviews by the finance and audit committee of reports which indicate financial performance against the forecasts and of major purchase plans, capital works and expenditure programmes;
setting targets to measure financial and other performance;
clearly defined purchasing (asset purchase or capital investment) guidelines;
identification and management of risks.
The board of trustees has decided:
to buy-in an internal audit service from SAAF Education on financial matters and to use a range of governors' skills to carry out internal audits on other matters.
The internal auditor's role includes giving advice on financial and other matters and performing a range of checks on the academy trust's financial and other systems. In particular, the checks carried out in the current period included:
Cyber security
Health and safety
Personnel
Safeguarding
Safer recruitment
SEN
Website
On a termly basis, the auditor reports to the board of trustees through the audit and risk committee on the operation of the systems of control and on the discharge of the financial responsibilities of the board of trustees. On an annual basis, the auditor prepares a summary report to the committee outlining the areas reviewed, key findings, recommendations and conclusions to help the committee consider actions and assess year on year progress.
The agreed schedule of work has been delivered as planned. No material control issues were identified as a result of the work undertaken.
As accounting officer, the headteacher has responsibility for reviewing the effectiveness of the system of internal control. During the year in question the review has been informed by:
the work of the internal auditor;
the financial management and governance self-assessment process or the school resource management self-assessment tool;
the work of the executive managers within the academy trust who have responsibility for the development and maintenance of the internal control framework;
the work of the external auditor; and
correspondence from ESFA, eg financial notice to improve/notice to improve (FNtI/NtI) and ‘minded to’ letters.
The accounting officer has been advised of the implications of the result of their review of the system of internal control by the audit and risk committee and is to ensure continuous improvement of the system is in place.
Based on the advice of the audit and risk committee and the accounting officer, the board of trustees is of the opinion that the academy trust has an adequate and effective framework for governance, risk management and control.
Approved by order of the board of trustees on 05 December 2024 and signed on its behalf by:
As accounting officer of Crosshall Infant School Academy Trust, I have considered my responsibility to notify the academy trust board of trustees and the Education and Skills Funding Agency (ESFA) of material irregularity, impropriety and non-compliance with terms and conditions of all funding, including for estates safety and management, under the funding agreement in place between the academy trust and the Secretary of State for Education. As part of my consideration I have had due regard to the requirements of the Academy Trust Handbook 2023, including responsibilities for estates safety and management.
I confirm that I and the academy trust's board of trustees are able to identify any material irregular or improper use of funds by the academy trust, or material non-compliance with the terms and conditions of funding under the academy trust's funding agreement and the Academy Trust Handbook 2023.
I confirm that no instances of material irregularity, impropriety or funding non-compliance have been discovered to date. If any instances are identified after the date of this statement, these will be notified to the board of trustees and ESFA.
The trustees (who are also the directors of Crosshall Infant School Academy Trust for the purposes of company law) are responsible for preparing the trustees' report and the accounts in accordance with the Academies Accounts Direction 2023 to 2024 published by the Education and Skills Funding Agency, United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare accounts for each financial year. Under company law, the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period.
In preparing these accounts, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 and the Academies Accounts Direction 2023 to 2024;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for ensuring that in its conduct and operation the charitable company applies financial and other controls, which conform with the requirements both of propriety and of good financial management. They are also responsible for ensuring that grants received from ESFA/DfE have been applied for the purposes intended.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.
Approved by order of the members of the board of trustees on 05 December 2024 and signed on its behalf by:
Opinion
We have audited the accounts of Crosshall Infant School Academy Trust for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice), the Charities SORP 2019 and the Academies Accounts Direction 2023 to 2024 issued by the Education and Skills Funding Agency.
In our opinion the accounts:
give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 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; and
have been prepared in accordance with the Charities SORP 2019 and the Academies Accounts Direction 2023 to 2024.
Basis for opinion
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 academy trust’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 accounts and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the accounts themselves. 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.
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees' report including the incorporated strategic report for the financial year for which the accounts are prepared is consistent with the accounts; and
the trustees' report including the incorporated strategic report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the academy trust and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report, including the incorporated strategic 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 accounts are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
Our objectives are to obtain reasonable assurance about whether the accounts 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 accounts.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
• the nature of the industry and sector, control environment and business performance;
• the charitable company’s own assessment of the risks that irregularities may occur either as a result of fraud or error;
• the results of our enquiries of management and trustees of 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 actual, suspected or alleged fraud; and
• the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
• 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 opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
(i) The presentation of the Trust's Statement of Financial Activities, (ii) the Trust's accounting policy for revenue recognition (iii) the overstatement of salary and other costs (iv) the assumptions used in the calculation of the valuation of the surplus or deficit on the defined benefit pension scheme and the movements for the year. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, the Statement of Recommended Practice - 'Accounting and Reporting by Charities' issued by the joint SORP making body, along with the Academy Trust Handbook and Accounts Direction 2023-24 issued by the Education and Skills Funding Agency.
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 may be fundamental to the academy’s ability to operate or to avoid a material penalty. This includes regulations concerning Data Protection and Safeguarding.
Audit response to risks identified
As a result of performing the above, we identified income recognition, override of controls and adherence to laws and regulations as the key audit matters 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 relevant laws and regulations described above as having a direct effect on the financial statements;
• enquiring of management and trustees concerning actual and potential litigation and claims;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
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We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable 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 charitable 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
In accordance with the terms of our engagement letter dated 20 May 2024 and further to the requirements of the Education and Skills Funding Agency (ESFA) as included in the Academies Accounts Direction 2023 to 2024, we have carried out an engagement to obtain limited assurance about whether the expenditure disbursed and income received by Crosshall Infant School Academy Trust during the period 1 September 2023 to 31 August 2024 have been applied to the purposes identified by Parliament and the financial transactions conform to the authorities which govern them.
This report is made solely to Crosshall Infant School Academy Trust and ESFA in accordance with the terms of our engagement letter. Our work has been undertaken so that we might state to the Crosshall Infant School Academy Trust and ESFA those matters we are required to state in a report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crosshall Infant School Academy Trust and ESFA, for our work, for this report, or for the conclusion we have formed.
The accounting officer is responsible, under the requirements of Crosshall Infant School Academy Trust’s funding agreement with the Secretary of State for Education dated 7 September 2010 and the Academy Trust Handbook, extant from 1 September 2023, for ensuring that expenditure disbursed and income received is applied for the purposes intended by Parliament and the financial transactions conform to the authorities which govern them.
Our responsibilities for this engagement are established in the United Kingdom by our profession’s ethical guidance, and are to obtain limited assurance and report in accordance with our engagement letter and the requirements of the Academies Accounts Direction 2023 to 2024. We report to you whether anything has come to our attention in carrying out our work which suggests that in all material respects, expenditure disbursed and income received during the period 1 September 2023 to 31 August 2024 have not been applied to purposes intended by Parliament or that the financial transactions do not conform to the authorities which govern them.
We conducted our engagement in accordance with the Framework and Guide for External Auditors and Reporting Accountant of Academy Trusts issued by ESFA. We performed a limited assurance engagement as defined in our engagement letter.
The objective of a limited assurance engagement is to perform such procedures as to obtain information and explanations in order to provide us with sufficient appropriate evidence to express a negative conclusion on regularity.
A limited assurance engagement is more limited in scope than a reasonable assurance engagement and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in a reasonable assurance engagement. Accordingly, we do not express a positive opinion.
Our engagement includes examination, on a test basis, of evidence relevant to the regularity and propriety of the academy trust's income and expenditure.
The work undertaken to draw to our conclusion includes:
Reviewing the activities to ensure they are in keeping with the charitable objectives and framework.
Reviewing declarations of interest and seeking further representations.
Reviewing the control environment and considering potential weaknesses.
Reviewing minutes of various committees, management accounts and holding discussions with key personnel.
In the course of our work, nothing has come to our attention which suggests that in all material respects the expenditure disbursed and income received during the period 1 September 2023 to 31 August 2024 has not been applied to purposes intended by Parliament and the financial transactions do not conform to the authorities which govern them.
The accounts on pages 24 to 45 were approved by the trustees and authorised for issue on
A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.
The trustees assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the accounts and have concluded that the academy trust has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the academy trust’s ability to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.
All incoming resources are recognised when the academy trust has entitlement to the funds, the receipt is probable and the amount can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.
General Annual Grant is recognised in full in the statement of financial activities in the period for which it is receivable, and any abatement in respect of the period is deducted from income and recognised as a liability.
Capital grants are recognised in full when there is an unconditional entitlement to the grant. Unspent amounts of capital grants are reflected in the balance sheet in the restricted fixed asset fund. Capital grants are recognised when there is entitlement and are not deferred over the life of the asset on which they are expended.
Sponsorship income provided to the academy trust which amounts to a donation is recognised in the statement of financial activities in the period in which it is receivable (where there are no performance-related conditions), where the receipt is probable and it can be measured reliably.
Donations are recognised on a receivable basis (where there are no performance-related conditions) where the receipt is probable and the amount can be reliably measured.
Other income, including the hire of facilities, is recognised in the period it is receivable and to the extent the academy trust has provided the goods or services.
Goods donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. If it is practical to assess the fair value at receipt, it is recognised in stock and ‘Income from other trading activities’. Upon sale, the value of the stock is charged against ‘Income from other trading activities’ and the proceeds are recognised as ‘Income from other trading activities’. Where it is impractical to fair value the items due to the volume of low value items they are not recognised in the accounts until they are sold. This income is recognised within ‘Income from other trading activities’.
Donated fixed assets are measured at fair value unless it is impractical to measure this reliably, in which case the cost of the item to the donor is used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset category and depreciated over the useful economic life in accordance with the academy trust‘s accounting policies.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All resources expended are inclusive of irrecoverable VAT.
This includes all expenditure incurred by the academy trust to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
These are costs incurred on the academy trust's educational operations, including support costs and costs relating to the governance of the academy trust apportioned to charitable activities.
Assets costing £2,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.
Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the balance sheet at cost and depreciated over their expected useful economic life. Where there are specific conditions attached to the funding that require the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the statement of financial activities and carried forward in the balance sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the statement of financial activities. Where tangible fixed assets have been acquired with unrestricted funds, depreciation on such assets is charged to the unrestricted fund.
Depreciation is provided on all tangible fixed assets other than freehold land, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:
No depreciation is provided in respect of freehold land, which departs from the requirement in the Companies Act 2006 (the Act) to depreciate all fixed assets. The Trustees believe that the value of land does not materially differ to its cost, and therefore the departure from the provisions of the Act is required in order to achieve a fair presentation of the entity's financial position and financial performance.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the academy trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods of services it must provide.
Rentals under operating leases are charged on a straight-line basis over the lease term.
The academy trust only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the academy trust and their measurement basis are as follows.
Trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
Cash at bank is classified as a basic financial instrument and is measured at face value.
Trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
The academy trust is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the academy trust is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Retirement benefits to employees of the academy trust are provided by the Teachers' Pension Scheme ('TPS') and the Local Government Pension Scheme ('LGPS'). These are defined benefit schemes and the assets are held separately from those of the academy trust.
The TPS is an unfunded scheme and contributions are calculated to spread the cost of pensions over employees' working lives with the academy trust 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 based on quadrennial valuations using a prospective unit credit method. The TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions are recognised in the period to which they relate.
The LGPS is a funded multi-employer scheme and the assets are held separately from those of the academy trust in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to net income or expenditure are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the statement of financial activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses.
Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the academy trust at the discretion of the trustees.
Restricted fixed asset funds are resources which are to be applied to specific capital purposes imposed by funders where the asset acquired or created is held for a specific purpose.
Restricted general funds comprise all other restricted funds received with restrictions imposed by the funder/donor and include grants from the Education and Skills Funding Agency/Department for Education.
Provisions
Provisions are recognised when the academy trust has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and the obligation can be estimated reliably.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The academy trust makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
The present value of the Local Government Pension Scheme defined benefit asset/liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 17, will impact the carrying amount of the pension asset/liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions asset/liability at 31 August 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension asset/liability.
FRS 102 section 28.22 allows an entity to recognise a surplus within the Local Government Pension Scheme “only to the extent it is able to recover the surplus either through reduced contributions in the future or through refunds from the plan”. The actuarial report as at 31 August 2024 indicates a defined benefit asset position, which has been capped at nil value. This is on the basis that it is uncertain that a surplus following any triennial review would result in reduced contributions for the employer, and is unlikely to result in a repayment.
In the view of the Governors/Trustees, there are no further assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date that are likely to result in a material adjustment to their carrying amounts in the next financial year.
The key management personnel of the academy trust comprise the trustees and the senior management team as listed on page 1. The total amount of key management personnel benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the academy trust was £203,757 (2023: £235,158).
One or more of the trustees has been paid remuneration or has received other benefits from an employment with the academy trust. The headteacher and other staff trustees only receive remuneration in respect of services they provide undertaking the roles of headteacher and staff members under their contracts of employment, and not in respect of their services as trustees.
The value of trustees' remuneration and other benefits was as follows:
Mrs D James (Headteacher and accounting officer to 31 August 2023)
Remuneration £nil (2023: £85,000 - £90,000)
Pension £nil (2023: £20,000 - £25,000)
Mrs R Sawford (Headteacher and accounting officer from 1 September 2023)
Remuneration £60,000 - £65,000 (2023: £40,000 - £45,000)
Pension £15,000 - £20,000 (2023: £10,000 - £15,000)
Mrs R Whitfield (Staff governor to 31 August 2024)
Remuneration £35,000 - £40,000 (2023: £nil)
Pension £5,000 - £10,000 (2023: £nil)
Miss E Dodson (Staff governor to 31 August 2024)
Remuneration £40,000 - £45,000 (2023: £nil)
Pension £10,000 - £15,000 (2023: £nil)
During the period 1 September 2023 to 31 August 2024 no expenses were reimbursed to Trustees (1 September 2022 - 31 August 2023 - £nil).
In accordance with normal commercial practice, the academy trust has purchased insurance to protect trustees and officers from claims arising from negligent acts, errors or omissions occurring whilst on academy trust business. The insurance provides cover up to £5,000,000 on any one claim. It is not possible to quantify the trustees and officers indemnity element from the overall cost of the RPA scheme.
At the balance sheet date the academy was holding funds in advance relating to Universal Infant Free School Meals.
The specific purposes for which the funds are to be applied are as follows:
Restricted general funds are to be applied to meet the day to day working commitments for the academy in meeting its objectives. The restricted funds can only be used in terms of limitations imposed by the Funding Agreement with the DfE and the terms of any specific grant.
The pension fund relates to the academy's share of the (deficit)/surplus of the Local Government Pension Scheme.
The restricted fixed asset fund represents transfers on conversion, government grants received for the purchase of fixed assets and other assets purchases, less the depreciation costs of those assets.
The unrestricted fund represents resources which may be used towards meeting any of the charitable objects of the academy trust at the discretion of the trustees.
The academy trust is not subject to GAG carried forward limits.
The academy trust's employees belong to two principal pension schemes: the Teachers' Pension Scheme England and Wales (TPS) for academic and related staff; and the Local Government Pension Scheme (LGPS) for non-teaching staff, which is managed by Cambridgeshire Pension Fund. Both are multi-employer defined benefit schemes.
The latest actuarial valuation of the TPS related to the period ended 31 March 2020, and the latest triennial valuation of the LGPS related to the period ended 31 March 2022. The Trust has received an actuarial report relating to the valuation of the LGPS as at 31 August 2024.
There were no outstanding or prepaid contributions at either the beginning or the end of the financial year.
The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers in academy trusts. All teachers 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. Retirement and other pension benefits are paid by public funds provided by Parliament.
The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions.
Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation outcome are:
Employer contribution rates set at 28.68% of pensionable pay (including a 0.08% administration levy). This is an increase of 5% in employer contributions and the cost control result is such that no change in member benefits is needed.
Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222,200 million, giving a notional past service deficit of £39,800 million.
The result of this valuation will be implemented from 1 April 2024.The next valuation result is due to be implemented from 1 April 2028.
The employer's pension costs paid to the TPS in the period amounted to £138,487 (2023: £140,111).
A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.
Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The academy trust is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the academy trust has taken advantage of the exemption in FRS 102 and has has accounted for its contributions to the scheme as if it were a defined contribution scheme. The academy trust has set out above the information available on the scheme.
The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. The total contributions are as noted below. The agreed contribution rates for future years are 17.1% for employers and 5.5-12.5% for employees.
Parliament has agreed, at the request of the Secretary of State for Education, to a guarantee that, in the event of academy closure, outstanding Local Government Pension Scheme liabilities would be met by the Department for Education. The guarantee came into force on 18 July 2013 and on 21 July 2022, the Department for Education reaffirmed its commitment to the guarantee, with a parliamentary minute published on GOV.UK.
Scheme liabilities would have been affected by changes in assumptions as follows:
The net gain recognised on scheme assets has been restricted because the full pension surplus is not expected to be recovered through refunds or reduced contributions in the future.
No related party transactions took place in the period of account, other than certain trustees' remuneration and expenses already disclosed in note 9.
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he or she ceases to be a member.