Company registration number 07570395 (England and Wales)
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 AUGUST 2024
31 August 2024
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
CONTENTS
Page
Reference and administrative details
1
Trustees' report
2 - 8
Governance statement
9 - 13
Statement on regularity, propriety and compliance
14
Statement of trustees' responsibilities
15
Independent auditor's report on the accounts
16 - 19
Independent reporting accountant's report on regularity
20 - 21
Statement of financial activities including income and expenditure account
22 - 23
Balance sheet
24
Statement of cash flows
25
Notes to the accounts including accounting policies
26 - 47
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS
- 1 -
Members
Chester Diocesan Board of Education
Professor G White (appointed by the Chester Bluecoat Church of England Education Foundation)
The Diocesan Bishop
The Chair of the Governors
Trustees
Mr D Walsh (Co-Chairperson from 12 December 2023)
Professor N W John (Co-Chairperson to 14 October 2023) (Deceased 14 October 2023)
Mr R I Mainard (Co-Chairperson)
Dr M Bird
Mrs H Cairns (Headteacher & Accounting Officer)
Mr S D Corley
Dr L Edwards
Ms S K Emes-Young
Mr A Hardman
Dr E Hemmings
Mrs S High (Resigned 5 October 2023)
Mr J Price
Revd Canon Mr A J Stinson (Appointed 1 March 2024)
Mr A I Taylor (Appointed 4 September 2023)
Rev P Towner (Resigned 2 November 2024)
Mr C A Woods (Resigned 28 March 2024)
Senior Leadership Team
- Headteacher, CEO and Accounting Officer
Ms H Cairns
- Chief Finance Officer
Mrs A Beasley
- Deputy Heads
Ms C Robbins, Mr A Carr
- Assistant Heads
Miss V Burton, Mr A Owen, Dr D Kay
Company secretary
Mrs A Beasley
Company registration number
07570395 (England and Wales)
Principal and registered office
Vaughans Lane
Great Boughton
Chester
CH3 5XF
Independent auditor
Mitchell Charlesworth (Audit) Limited
24 Nicholas Street
Chester
CH1 2AU
Bankers
Lloyds Bank plc
8 Foregate Street
Chester
CH1 1XP
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

The trustees present their annual report together with the accounts and auditor's report of the charitable company for the year 1 September 2023 to 31 August 2024. The annual report serves the purposes of both a trustees' report, and a directors' report and strategic report under company law.

The academy trust operates a non-selective and inclusive academy for students aged 11 to 18, with a designated Church of England religious character offering a broad and balanced curriculum conducted in accordance with the principles, practices and tenets of the Church of England both generally and in particular in relation to arranging for religious education and daily acts of worship (as required by the Funding Agreement), and in having regard to the advice of the Diocesan Board of Education. It had a roll of 1,210 (Capacity 1,050) in the school census on 3 October 2024.

Structure, governance and management
Constitution

The academy trust is a company limited by guarantee and an exempt charity. The charitable company's memorandum and articles of association are the primary governing documents of the academy trust.

The governors act as the trustees of The Bishops' Blue Coat Church of England High School and 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.

Members' liability

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.

Trustees' indemnities

The academy trust has opted into the Department for Education’s Risk Protection Arrangement which indemnifies trustees whilst on academy business.

Method of recruitment and appointment or election of trustees

The members must appoint a minimum of twelve governors which includes a minimum of six governors appointed by the Chester Diocesan Board of Education, a minimum of five to be appointed by the Chester Blue Coat Church of England Educational Foundation and one governor to be appointed by the Diocesan Bishop. The members may appoint up to three staff governors and the principal is treated for all purposes as an ex officio governor. Up to three parent governors may be elected by parents and up to two co-opted governors can be appointed. A chair and vice chair of governors are elected each year at the first meeting of the academic year. In the event that the chair ceases to be a governor or resigns the role of chair, the vice chair assumes the role until the next meeting of the full governing body.

Policies and procedures adopted for the induction and training of trustees

All newly appointed governors receive an induction by the secretary to the governors. This includes the provision of all relevant papers and reports and a tour of the school in which they meet senior staff. All newly appointed governors complete a skills audit, relevant training and are subject to the necessary Disclosure and Barring Service checks.

 

All governors complete an annual skills audit and there is an annual plan of in-house and recommended external training. Governors are provided with information about training courses organised by the Diocesan Board of Education, the Local Authority and other providers and are encouraged to attend appropriate courses. The governing body also has membership of a number of organisations that offer online governance resources and training courses. There is a governor training budget.

 

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
Organisational structure

The management structure consists of two levels, the governors who are trustees and the senior management of the academy. The aim of the structure is to devolve responsibility to those best able to make appropriate decisions.

 

The governors are there to support and hold to account the senior management team and to support the community in the running of the academy and have no ambition to run the academy on a day to day basis. Along with this governance role the trustees are there to give support and advice when asked and to be roving ambassadors for the academy.

 

The governing body is responsible for setting the aims and objectives, setting policies and targets for achieving the objectives, reviewing progress and reviewing the strategic framework in the light of progress. The governing body acts as a "critical friend" to the head teacher by providing advice and support.

The head teacher is responsible for the internal organisation and control of the school and for advising on and implementing the governing body's strategic framework. The Scheme of Delegation of the Academy Trust is published on the trust’s website.

 

During the year ended 31 August 2024 the full governing body met four times, in September, December, March and in July. They also held a strategy focused session in May. The Annual General Meeting of the members of the academy was held in January 2024.

 

During the year ended 31 August 2024 there were four committees and four sub committees and panels.

 

The four committees were:

    

The four sub-committees and panels were:

 

The Resources and Students Committees each met six times during the year. The Audit Committee and Chairs Group each met three times during the year. The sub-committees and panels met as and when required and membership of all but the Head Teacher Performance Management Committee was ad hoc.

 

The full governing body reserves the right to set the school budget. In this, the governing body was advised by the Resources Committee.

Arrangements for setting pay and remuneration of key management personnel

The Resources Committee monitor pay and remuneration. Remuneration of key management personnel comprising the senior leadership team is reviewed as roles change.

 

Trade Union Facility Time

There were two relevant trade union officials who were full time employees during the year. There was no time spent on union facility time and the associated cost was £nil. There was no time spent on paid trade union activities.

Related parties and other connected charities and organisations

The members, board of trustees, academy committee members and the accounting officer all complete a pecuniary interest declaration on an annual basis. This declaration sets out any relationship with the academy trust that is not directly related to their duties within these roles. Each individual is also required to declare a potential ‘conflict of interest’ if it arises between such declarations. Once a declaration has been made, the individual concerned takes no further part in any decision relating to the matter declared. Any related party transactions that have occurred are disclosed in the notes to the accounts.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
Objectives and activities
Objects and aims

The vision for The Bishops’ Blue Coat Church of England High School during the year ended 31 August 2024 was that ‘The Bishops' Blue Coat Church of England High School is an exciting place to be.  We know, nurture, and inspire our community to be the best version of themselves through a better understanding of the Christian faith, our core values, and a rich set of opportunities. Students achieve academically whilst growing personally and spiritually.  Through their engagement in society and beyond, our students make a positive difference through wise action, resilience, and a sense of responsibility. Our community is enabled to live life guided by Jesus, to flourish and have “life in all its fullness” (John 10:10)’

 

The school curriculum and activities are rooted in the Church of England Vision for Education  

Objectives, strategies and activities

In order to achieve these aims the School Improvement Plan for the year ended 31 August 2024 included the following priority areas: 

  

  1. Reading  

  1. Stakeholder engagement  

  1. Curriculum development 

  1. Assessment design 

  1. High quality teaching  

  1. Intervention  

 

Key activities which helped to achieve these objectives were:

 

 

Reflections on the Year: The 2023–24 academic year was positive, but challenges remain as the school continues to address the lingering effects of the "Covid hangover." An increase in poor behaviour and undiagnosed Special Educational Needs and Disabilities (SEND) from primary school intakes has placed extra pressure on pastoral resources. Although staff turnover remained lower than the national average, there was an increase in staff absences. Recruiting teaching assistants also proved more difficult, given the growing local and national demand for SEND support.

 

This year marked the first full academic year under the leadership of the new Headteacher. The school’s revised vision has begun to take root, as reflected in the Outstanding rating received in the recent SIAMS inspection.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
Public benefit

In setting our objectives and planning our activities, the trustees have carefully considered the Charity Commission’s general guidance on public benefit.

Strategic report
Achievements and performance

Once again, our students demonstrated remarkable resilience in 2024, achieving strong examination results. All of our Year 13 students successfully transitioned to post-18 destinations, while our Year 11 cohort secured post-16 placements, with many choosing to return to Bishops’ to continue their studies, resulting in a large Sixth Form from September 2024. Our attendance data compared favorably against local and national averages.

Key performance indicators

GCSE Results

Our provisional Progress 8 score stands at +0.27, though this figure may be subject to change following the Department for Education’s data checking exercise in November.

 

Year 13 Results

We are very pleased with this year’s results. While there was a slight decline in headline figures compared to the previous year, the cohort outperformed 2019 pre-Covid results. This group saw an increase in students following mixed study programmes (A Level and BTEC), with 76% achieving A* to C grades, in line with the national average. Notably, 55% of students on Level 3 BTEC courses achieved a Distinction* or Distinction.

 

Year 11 Results

An impressive 74% of Year 11 students achieved a grade 4 or above. Special recognition goes to the outstanding performances in Food and Nutrition, Psychology, Chemistry, Biology, and Physics, where over 90% of students earned grades of 4 or higher, and at least 40% secured grades 7 or above.

 

A key non-financial performance indicator for all schools is parental demand. The number of preferences received by the local authority regularly exceeds the places available and for September 2024 a high number of first place choices were made for admission to year 7 at 210. Applications for sixth form were also extremely positive with 102 students entering Year 12 in September 2024 compared to 82 in the previous year.

 

Key measures of success:

Going concern

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 BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
Financial review

Most of the trust’s income is obtained from the DfE in the form of grants, the use of which is restricted to particular purposes. The grants received from the DfE during the year and the associated expenditure are shown as restricted funds in the statements of financial activities. The principal accounting policies adopted during the year are detailed in the notes to the financial statements.

 

During the year ended 31 August 2024, total expenditure of £8,901,000 (2023: £8,519,000) was fully covered by grant funding from the DfE together with other incoming resources. The excess of income over expenditure (excluding actuarial losses on the defined benefit pension scheme) was £4,480,000 (2023: expenditure over income of £137,000). Successful CIF bids in the year contributed £4,661,000 to incoming resources.

 

As at the 31 August 2024, the net book value of fixed assets was £12,897,000 (2023: £12,465,000), including the value of the land and building which are on a 125-year lease. The assets are used exclusively for providing education and the associated support services to the pupils of the academy.

Reserves policy

The trustees regularly review the reserve levels of the academy. This review encompasses the nature of income and expenditure streams, the need to match income with commitments and the nature of reserves. The trustees take into consideration the future plans of the academy, the uncertainty over future income streams and other key risks (such as pupil numbers) identified during the risk review. The trustees aim to maintain a minimum level of unrestricted reserves of £500,000. The reason for this is to provide sufficient working capital to cover delays between spending and receipt of grants and to provide a cushion to deal with unexpected emergencies.

 

The trust has overall reserves of £17,869,000 (2023: £13,499,000), included within which is restricted general reserves (excluding pension & fixed asset reserves) of £nil (2023: £12,000) and unrestricted reserves of £990,000 (2023: 853,000). The total free reserves (excluding pension & fixed asset reserves) amounts to £990,000 (2023: 865,000). This is in excess of the agreed minimum of £500,000. £300,000 of the free reserves will be used in the year ended 31 August 2025 being the school’s contribution to the successful CIF bid for roof work. There are uncertainties over future funding and costs, therefore the trustees consider that the excess is likely to be utilised in the coming years and may be required for expenditure on capital projects for which other funding is unavailable.

 

The pension scheme asset as at 31 August 2024 was restricted to £nil (2023: asset of £59,000). The vast majority of the movement of the pension scheme liability is due to actuarial assumptions and does not have a direct cash impact.

Investment policy

The academy's investment policy is consistent with its charitable status. Investments must always be made in accordance with written procedures adopted by the trustees and must always ensure the maximum integrity of such investments. The priority is for the academy to have cash invested in liquid investments that bear minimal risk by spreading investments among different banks.

Principal risks and uncertainties

The principal financial risks and uncertainties facing the academy trust are managing the increased payroll costs as a result of nationally agreed pay and tax increases, increased energy costs and general inflationary pressures. The major risk faced by the academy is that government funding levels will not reflect these increased costs. Another associated risk is a potential fall in student numbers due to increased competition from local schools and falling roles in feeder primary schools. The academy is addressing this by ensuring that our students are fully aware of the distinct opportunities and favourable outcomes provided by The Bishops’ Blue Coat Church of England High School.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -

The principal operational risk that all academies face is cyber security. The academy has met the conditions to be eligible for RPA Cyber cover, however a cyber incident could have a significant effect on the operations of the academy whilst it is being resolved.

 

The academy has a formal risk management process to identify and assess risks and to implement risk management strategies. A risk register is maintained and reviewed annually with higher scoring risks being reviewed with greater frequency. This includes consideration of those risks impacting on the trustees’ responsibilities to ensure the trust’s estate is safe, well maintained and complies with relevant regulations.

 

The financial instruments that the academy deals with are largely bank balances and trade creditors with limited trade and other debtors and therefore its financial risk is minimal.

Fundraising

The academy trust does not use any external fundraisers. The academy undertakes a variety of fundraising activities to support several charities and the trust itself. All fundraising undertaken during the year was monitored by the trustees.

Energy & Carbon Report

As the trust has not consumed more than 40,000 kWh of energy in this reporting period nor is it classed as a large company as determined by sections 465 and 466 of the Companies Act 2006, it is not required to report on its emissions, energy consumption or energy efficiency activities.

Plans for future periods

The trust will continue its drive to raise achievement and maximise student performance. There are three strategic priorities for the coming years. In addition to academic achievement, we will ensure that our students develop key life attributes, feel valued, safe, and able to flourish.

 

Key priority 1 - Knowing our students, our community, our context and our Christian vision and values.

 

 

 

Key priority 2 - Nurturing excellence in teaching and learning so that every student makes good progress, enabling them to take advantage of a rich set of opportunities.

 

 

 

Key priority 3 - Inspiring growth and aspiration through an ambitious seven-year academic, personal and spiritual curriculum so that all our students make a positive difference at Bishops’ and beyond.

 

 

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
Auditor

In so far as the trustees are aware:

- there is no relevant audit information of which the charitable company's auditor is unaware; and

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

A resolution proposing that Mitchell Charlesworth (Audit) Limited be reappointed as auditor of the charitable company will be put to the members.

The trustees' report, incorporating a strategic report, was approved by order of the board of trustees, as the company directors, on 18 December 2024 and signed on its behalf by:

Mr R I Mainard
Co-Chairperson
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
GOVERNANCE STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
Scope of responsibility

As trustees, we acknowledge we have overall responsibility for ensuring that The Bishops' Blue Coat Church of England High School 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.

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 The Bishops' Blue Coat Church of England High School 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.

Governance

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. Attendance during the year at meetings of the board of trustees was as follows:

Trustees
Meetings attended
Out of possible
Mr D Walsh (Co-Chairperson from 12 December 2023)
3
4
Professor N W John (Co-Chairperson to 14 October 2023) (Deceased 14 October 2023)
1
1
Mr R I Mainard (Co-Chairperson)
4
4
Dr M Bird
3
4
Mrs H Cairns (Headteacher & Accounting Officer)
4
4
Mr S D Corley
3
4
Dr L Edwards
3
4
Ms S K Emes-Young
3
4
Mr A Hardman
4
4
Dr E Hemmings
4
4
Mrs S High (Resigned 5 October 2023)
0
1
Mr J Price
2
4
Revd Canon Mr A J Stinson (Appointed 1 March 2024)
2
2
Mr A I Taylor (Appointed 4 September 2023)
3
4
Rev P Towner (Resigned 2 November 2024)
2
4
Mr C A Woods (Resigned 28 March 2024)
2
3

The board of trustees has maintained effective oversight through its regular meetings and structure of committees, which report into the full governing body. There are also lead trustees appointed for strategic priorities and statutory areas who report into committees. Terms of reference are clear and well-understood ensuring each aspect of the governance structure operates effectively and there is not duplication, and there is a balance of detail and oversight. The Resources Committee receives financial reports at each meeting, and monthly management accounts are shared. The board of trustees receives direct reports and reports from committees to enable it to assess overall performance, and there is an annual session focused on strategy planning.

 

There have been two new trustees and four trustees who are no longer on the board. The new trustees have been recruited to fill identified skills gaps and they have been supported with a thorough induction programme.

 

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 10 -
Conflicts of interest

Conflicts of interest are managed by maintaining an up-to-date register of interests which is published on our website. This is reviewed at each meeting. Any conflict is highlighted in meetings and if a conflict arises this person would not be involved in the decision-making process.

Governance reviews

There is a Chairs Group which meets annually as a minimum. This group oversees the annual self-evaluation of the governing body and reports on a governance improvement action plan to the full governing body. This includes an assessment and recommendations in relation to governors’ strategic role, governor development, training and succession.

Meetings

The board maintains effective oversight of funds during the year by receiving monthly management accounts and by having the Resources Committee meeting a further six times during the year.

The Resources Committee is a sub-committee of the main board of trustees. It recommends to the full board of trustees, and monitors and evaluates, the annual budget, capital spending plan and three year financial plan. The committee reviews, adopts and monitors financial policies and practice. The financial scheme of delegation is scrutinised by the committee and recommended to the full governing body for approval. The committee monitors and evaluates investments and has oversight of financial benchmarking. The committee is responsible for ensuring appropriate staffing, and overseeing staffing policies and staff development, workload and wellbeing. It has oversight of the appraisal process and is responsible for applying the pay policy. The committee has oversight of premises management and is responsible for site development.

Attendance at Resource Committee meetings in the year was as follows:

Trustees
Meetings attended
Out of possible
Professor N W John (Co-Chairperson to 14 October 2023) (Deceased 14 October 2023)
1
1
Mr R I Mainard (Co-Chairperson)
6
6
Mrs H Cairns (Headteacher & Accounting Officer)
6
6
Mr S D Corley
6
6
Ms S K Emes-Young
3
4
Mrs S High (Resigned 5 October 2023)
0
0
Mr A I Taylor (Appointed 4 September 2023)
5
5
Rev P Towner (Resigned 2 November 2024)
4
6

The Audit Committee is also a sub-committee of the main board of trustees. Its purpose is to assist the board in fulfilling its oversight responsibilities for internal controls and for maintaining an appropriate relationship with the trust’s external auditors.

Attendance at meetings in the year was as follows:

Trustees
Meetings attended
Out of possible
Mr R I Mainard (Co-Chairperson)
3
3
Mr S D Corley
2
2
Dr E Hemmings
3
3
Mrs S High (Resigned 5 October 2023)
0
0
Rev P Towner (Resigned 2 November 2024)
1
3
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 11 -
Review of value for money

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:

 

Providing the best learning outcomes for all our students being our top priority. A measure of success is the excellent examination results achieved in the summer of 2024, showing continued progress, comparing well to our summer results in 2019, before the pandemic. The school continues to hold STEM assured status and also holds nationally accredited Careers Standard, RE Quality Mark and Arts Council Gold England Awards.

 

Following the expansion of the pastoral support team in 2022 – 2023 the school has sought continued professional development opportunities to support the welfare and wellbeing of staff and students. This has included Mental Health Lead training, Preventing Sexual Misconduct Training and Sexual Misconduct Liasion Officer Training.

 

Work continues with our most vulnerable students, with reviews to the behaviour and uniform policy completed to ensure they are inclusive. Creating a positive environment improving student wellbeing and help to reduce absence. The continued investment of school resources to support student needs is evidenced in the examination results this year which were in line with national averages and exceeded the position of the school in 2019.

 

Pupil premium funds are utilised to try to narrow the educational attainment gap. Accountability is through direct reporting (including VFM reviews) by the relevant assistant headteachers to the relevant governor committees. Pupil premium strategies are published on the school website and achievement outcomes are reported to full governors at least annually.

 

The school benefits from a suitably qualified and experienced audit committee who review financial procedures, risks and controls.

 

The resources committee receives twice termly budget monitoring reports and the accounting officer, and trustees receive monthly statements with explanations of budget variances.

 

In accordance with the academy’s finance manual, the school regularly appraises contracts and services for value for money and renegotiates where appropriate. Purchasing consortiums are used to obtain economies of scale. Budget holders are held accountable for their budgets and are supported by the finance team in sourcing the best value for money.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 12 -

Where possible, our upskilled site maintenance team carry out many of the maintenance tasks and site improvements rather than bring contractors in. This effective use of funds ensures that the trust’s estate is safe, well maintained, and complies with regulations.

 

The school takes every opportunity to maximise income generated from the hire of its facilities. Investment in the sports facilities funded by both the academy and hirers has increased the attractiveness of these facilities for lettings and increased the associated income.

 

Surplus cash balances are invested in interest bearing accounts with investment institutions being carefully selected to provide the most acceptable balance of return and risk.

The purpose of the system of internal control

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 The Bishops' Blue Coat Church Of England High School for the period 1 September 2023 to 31 August 2024 and up to the date of approval of the annual report and accounts.

Capacity to handle risk

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 risk and control framework

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:

 

The board of trustees has appointed Red Rambler Limited to provide internal audit services. This option has been chosen as it provides value for money and an expert and independent service. It also appointed Virtue Technology Limited to review the risks and controls in place for cyber security.

The reviewer’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:

 

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
GOVERNANCE STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 13 -

The reviewer reports to the board of trustees, through the sub-committee on the operation of the systems of control and on the discharge of the board of trustees’ financial responsibilities and prepares an annual 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.

Review of effectiveness

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 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 ensure continuous improvement of the system is in place.

Conclusion

Based on the advice of the audit 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 18 December 2024 and signed on its behalf by:

Mr R I Mainard
Mrs H Cairns
Co-Chairperson
Headteacher & Accounting Officer
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
STATEMENT OF REGULARITY, PROPRIETY AND COMPLIANCE
FOR THE YEAR ENDED 31 AUGUST 2024
- 14 -

As accounting officer of The Bishops' Blue Coat Church of England High School, 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.

Mrs H Cairns
Accounting Officer
18 December 2024
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -

The trustees (who are also the directors of The Bishops' Blue Coat Church of England High School 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:

 

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 18 December 2024 and signed on its behalf by:

Mr R I Mainard
Co-Chairperson
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
FOR THE YEAR ENDED 31 AUGUST 2024
- 16 -

Opinion

We have audited the accounts of The Bishops' Blue Coat Church of England High School 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

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 'Auditor's responsibilities for the audit of the accounts' section of our report. We are independent of the academy trust in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 17 -
Opinions on other matters prescribed by the Companies Act 2006

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

-

the information given in the trustees' report 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.

Matters on which we are required to report by exception

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

-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. In preparing the accounts, the trustees are responsible for assessing the academy trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the accounts

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.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 18 -

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:

 

 

 

 

 

 

 

 

 

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) 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.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 19 -

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.

 

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.

Robert Hall (Senior Statutory Auditor)
for and on behalf of Mitchell Charlesworth (Audit) Limited
18 December 2024
2024-12-18
Accountants
Statutory Auditor
24 Nicholas Street
Chester
CH1 2AU
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
INDEPENDENT REPORTING ACCOUNTANT'S ASSURANCE REPORT ON REGULARITY TO THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL AND THE EDUCATION AND SKILLS FUNDING AGENCY
FOR THE YEAR ENDED 31 AUGUST 2024
- 20 -

In accordance with the terms of our engagement letter dated 20 March 2023 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 The Bishops' Blue Coat Church of England High School 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 The Bishops' Blue Coat Church of England High School and ESFA in accordance with the terms of our engagement letter. Our work has been undertaken so that we might state to the The Bishops' Blue Coat Church of England High School 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 The Bishops' Blue Coat Church of England High School and ESFA, for our work, for this report, or for the conclusion we have formed.

Respective responsibilities of The Bishops' Blue Coat Church of England High School's accounting officer and the reporting accountant

The accounting officer is responsible, under the requirements of The Bishops' Blue Coat Church of England High School’s funding agreement with the Secretary of State for Education dated 1 September 2020 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.

Approach

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:

 

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
INDEPENDENT REPORTING ACCOUNTANT'S ASSURANCE REPORT ON REGULARITY TO THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL AND THE EDUCATION AND SKILLS FUNDING AGENCY (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 21 -
Conclusion

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.

Reporting Accountant
Mitchell Charlesworth (Audit) Limited
Dated: 18 December 2024
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 22 -
Unrestricted
Restricted funds:
Total
Total
funds
General
Fixed asset
2024
2023
Notes
£'000
£'000
£'000
£'000
£'000
Income and endowments from:
Donations and capital grants
3
108
25
4,674
4,807
491
Charitable activities:
- Funding for educational operations
4
8
8,013
-
8,021
7,399
Other trading activities
5
527
-
-
527
483
Investments
6
26
-
-
26
9
Total
669
8,038
4,674
13,381
8,382
Expenditure on:
Charitable activities:
- Educational operations
8
637
7,859
405
8,901
8,519
Total
7
637
7,859
405
8,901
8,519
Net income/(expenditure)
32
179
4,269
4,480
(137)
Transfers between funds
16
105
(140)
35
-
-
Other recognised gains/(losses)
Actuarial (losses)/gains on defined benefit pension schemes
18
-
(110)
-
(110)
282
Net movement in funds
137
(71)
4,304
4,370
145
Reconciliation of funds
Total funds brought forward
853
71
12,575
13,499
13,354
Total funds carried forward
990
-
16,879
17,869
13,499
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 23 -
Comparative year information
Unrestricted
Restricted funds:
Total
Year ended 31 August 2023
funds
General
Fixed asset
2023
Notes
£'000
£'000
£'000
£'000
Income and endowments from:
Donations and capital grants
3
71
24
396
491
Charitable activities:
- Funding for educational operations
4
7
7,392
-
7,399
Other trading activities
5
483
-
-
483
Investments
6
9
-
-
9
Total
570
7,416
396
8,382
Expenditure on:
Charitable activities:
- Educational operations
8
799
7,315
405
8,519
Total
7
799
7,315
405
8,519
Net income/(expenditure)
(229)
101
(9)
(137)
Transfers between funds
16
226
(78)
(148)
-
Other recognised gains/(losses)
Actuarial gains on defined benefit pension schemes
18
-
282
-
282
Net movement in funds
(3)
305
(157)
145
Reconciliation of funds
Total funds brought forward
856
(234)
12,732
13,354
Total funds carried forward
853
71
12,575
13,499
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
BALANCE SHEET
AS AT 31 AUGUST 2024
- 24 -
2024
2023
Notes
£'000
£'000
£'000
£'000
Fixed assets
Tangible assets
12
12,897
12,465
Current assets
Debtors
13
4,760
538
Cash at bank and in hand
1,549
1,723
6,309
2,261
Current liabilities
Creditors: amounts falling due within one year
14
(1,337)
(1,286)
Net current assets
4,972
975
Net assets excluding pension asset
17,869
13,440
Defined benefit pension scheme asset
18
-
0
59
Total net assets
17,869
13,499
Funds of the academy trust:
Restricted funds
16
- Fixed asset funds
16,879
12,575
- Restricted income funds
-
12
- Pension reserve
-
59
Total restricted funds
16,879
12,646
Unrestricted income funds
16
990
853
Total funds
17,869
13,499

The accounts on pages 22 to 47 were approved by the trustees and authorised for issue on 18 December 2024 and are signed on their behalf by:

Mr R I Mainard
Co-Chairperson
Company registration number 07570395 (England and Wales)
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
- 25 -
2024
2023
Notes
£'000
£'000
£'000
£'000
Cash flows from operating activities
Net cash provided by/(used in) operating activities
19
417
(11)
Cash flows from investing activities
Dividends, interest and rents from investments
26
9
Capital grants from DfE Group
220
387
Capital funding received from sponsors and others
-
9
Purchase of tangible fixed assets
(838)
(127)
Proceeds from sale of tangible fixed assets
1
2
Net cash (used in)/provided by investing activities
(591)
280
Net (decrease)/increase in cash and cash equivalents in the reporting period
(174)
269
Cash and cash equivalents at beginning of the year
1,723
1,454
Cash and cash equivalents at end of the year
1,549
1,723
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 26 -
1
Accounting policies

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.

1.1
Basis of preparation

The accounts of the academy trust, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Academies Accounts Direction 2023 to 2024 issued by ESFA, the Charities Act 2011 and the Companies Act 2006.

 

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £'000.

1.2
Going concern

The trustees assess whether the use of going concern is appropriate, i.e. 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.

1.3
Income

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

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

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

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.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 27 -
Other income

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.

Donated goods, facilities and 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

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.

1.4
Expenditure

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.

Expenditure on raising funds

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.

Charitable activities

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.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 28 -
1.5
Tangible fixed assets and depreciation

Assets costing £1,000 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:

Leasehold Land
Nil
Leasehold Building
Straight line over 50 years
Capital Improvements
Straight line over 50 years
Assets Under Construction
Nil
Plant & Machinery
Straight line over 5 years
Computer Equipment
Straight line over 3, 5 or 7 years
Fixtures, Fittings & Equipment
Straight line over 5 years
Motor Vehicles
Straight line over 4 years

No depreciation is provided in respect of the leasehold 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.

1.6
Liabilities

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.

1.7
Leased assets

Rentals under operating leases are charged on a straight-line basis over the lease term.

1.8
Financial instruments

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.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 29 -
Financial assets

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.

Financial liabilities

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.

1.9
Taxation

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.

1.10
Pensions benefits

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.

1.11
Fund accounting

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.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 30 -

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.

1.12

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.

2
Critical accounting estimates and areas of judgement

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.

Critical accounting estimates and assumptions

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.

Local Government Pension Scheme

 

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 18, 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.

Critical areas of judgement

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 BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 31 -
3
Donations and capital grants
Unrestricted
Restricted
Total
Total
funds
funds
2024
2023
£'000
£'000
£'000
£'000
Capital grants
-
4,674
4,674
387
Other donations
108
25
133
104
108
4,699
4,807
491
4
Funding for the academy trust's educational operations
Unrestricted
Restricted
Total
Total
funds
funds
2024
2023
£'000
£'000
£'000
£'000
DfE/ESFA grants
General annual grant (GAG)
-
6,946
6,946
6,337
Other DfE/ESFA grants:
- Pupil premium
-
202
202
197
- Mainstream schools additional grant
-
210
210
88
- Others
-
249
249
267
-
7,607
7,607
6,889
Other government grants
Local authority grants
-
307
307
283
COVID-19 additional funding
DfE/ESFA
Catch-up premium
-
49
49
49
Other incoming resources
8
50
58
178
Total funding
8
8,013
8,021
7,399
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 32 -
5
Other trading activities
Unrestricted
Restricted
Total
Total
funds
funds
2024
2023
£'000
£'000
£'000
£'000
Hire of facilities
95
-
95
88
Catering income
399
-
399
364
Music tuition
11
-
11
12
Parental contributions
22
-
22
19
527
-
527
483
6
Investment income
Unrestricted
Restricted
Total
Total
funds
funds
2024
2023
£'000
£'000
£'000
£'000
Short term deposits
26
-
26
9
7
Expenditure
Non-pay expenditure
Total
Total
Staff costs
Premises
Other
2024
2023
£'000
£'000
£'000
£'000
£'000
Academy's educational operations
- Direct costs
5,824
406
632
6,862
6,318
- Allocated support costs
1,069
506
464
2,039
2,202
6,893
912
1,096
8,901
8,520
Net income/(expenditure) for the year includes:
2024
2023
£'000
£'000
Operating lease rentals
11
5
Depreciation of tangible fixed assets
406
406
Gain on disposal of fixed assets
(1)
-
Fees payable to auditor for:
- Audit
7
7
- Other services
5
5
Net interest on defined benefit pension liability
(4)
10
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 33 -
8
Charitable activities
Unrestricted
Restricted
Total
Total
funds
funds
2024
2023
£'000
£'000
£'000
£'000
Direct costs
Educational operations
637
6,225
6,862
6,318
Support costs
Educational operations
-
2,039
2,039
2,202
637
8,264
8,901
8,520
Analysis of costs
2024
2023
£'000
£'000
Direct costs
Teaching and educational support staff costs
5,824
5,329
Staff development
22
11
Depreciation
406
406
Technology costs
81
92
Educational supplies and services
282
302
Examination fees
123
110
Other direct costs
124
68
6,862
6,318
Support costs
Support staff costs
1,097
1,008
Maintenance of premises and equipment
272
504
Cleaning
11
10
Energy costs
179
201
Rent, rates and other occupancy costs
44
43
Security and transport
20
17
Catering
260
247
Finance costs
(4)
10
Legal costs
20
26
Other support costs
127
123
Governance costs
13
13
2,039
2,202
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 34 -
9
Staff
Staff costs and employee benefits
Staff costs during the year were:
2024
2023
£'000
£'000
Wages and salaries
5,108
4,648
Social security costs
481
445
Pension costs
1,131
1,104
Staff costs - employees
6,720
6,197
Agency staff costs
171
110
Staff restructuring costs
2
-
6,893
6,307
Staff development and other staff costs
50
41
Total staff expenditure
6,943
6,348
Staff restructuring costs comprise:
Severance payments
2
-
Severance payments

The academy trust paid 2 severance payments in the year, disclosed in the following bands:

£0 - £25,000
2
Staff numbers
The average number of persons employed by the academy trust during the year was as follows:
2024
2023
Number
Number
Teachers
69
70
Administration and support
100
101
Management
7
6
176
177
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
9
Staff
(Continued)
- 35 -
The number of persons employed, expressed as a full time equivalent, was as follows:
2024
2023
Number
Number
Teachers
61
63
Administration and support
60
57
Management
7
6
128
126
Higher paid staff
The number of employees whose employee benefits (excluding employer pension costs and employer national insurance contributions) exceeded £60,000 was:
2024
2023
Number
Number
£60,001 to £70,000
2
2
£70,001 to £80,000
3
2
£80,001 to £90,000
1
1
£90,001 to £100,000
1
-
Key management personnel

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 £712,650 (2023: £638,938).

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 36 -
10
Trustees' remuneration and expenses

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:

 

Figures above reflect remuneration for the whole year, not just the part of the year that the individual served as a trustee. No figures are shown where the individual was remunerated but did not serve any part of the year as a trustee.

 

During the year there were no reimbursements (2023: £nil) made to trustees in respect of travel expenses.

 

Other related party transaction involving the trustees are set out in the notes.

11
Trustees' and officers' insurance

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 £10,000,000 on any one claim and the cost for the year ended 31 August 2024 was £23 per pupil (2023: £20 per pupil). The cost of this insurance is included in the total insurance cost.

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 37 -
12
Tangible fixed assets
Leasehold Land
Leasehold Building
Capital Improvements
Assets Under Construction
Plant & Machinery
Computer Equipment
Fixtures, Fittings & Equipment
Motor Vehicles
Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
Cost
At 1 September 2023
1,054
7,550
5,764
-
254
602
354
54
15,632
Additions
-
-
-
674
-
162
2
-
838
Disposals
-
-
-
-
-
(95)
-
-
(95)
At 31 August 2024
1,054
7,550
5,764
674
254
669
356
54
16,375
Depreciation
At 1 September 2023
-
1,875
441
-
155
385
269
42
3,167
On disposals
-
-
-
-
-
(95)
-
-
(95)
Charge for the year
-
151
115
-
28
77
30
5
406
At 31 August 2024
-
2,026
556
-
183
367
299
47
3,478
Net book value
At 31 August 2024
1,054
5,524
5,208
674
71
302
57
7
12,897
At 31 August 2023
1,054
5,675
5,323
-
99
217
85
12
12,465
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 38 -
13
Debtors
2024
2023
£'000
£'000
Trade debtors
9
2
VAT recoverable
148
92
Other debtors
5
4
Prepayments and accrued income
4,598
440
4,760
538
14
Creditors: amounts falling due within one year
2024
2023
£'000
£'000
Trade creditors
756
615
Other taxation and social security
117
113
Other creditors
162
133
Accruals and deferred income
302
425
1,337
1,286
15
Deferred income
2024
2023
£'000
£'000
Deferred income is included within:
Creditors due within one year
130
168
Deferred income at 1 September 2023
168
152
Released from previous years
(168)
(152)
Resources deferred in the year
130
168
Deferred income at 31 August 2024
130
168

At the balance sheet date, the academy trust was holding funds of £130,000 received in advance for:

 

THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 39 -
16
Funds
Balance at
Gains,
Balance at
1 September
losses and
31 August
2023
Income
Expenditure
transfers
2024
£'000
£'000
£'000
£'000
£'000
Restricted general funds
General Annual Grant (GAG)
-
6,946
(6,806)
(140)
-
Pupil premium
-
202
(202)
-
-
Catch-up premium
12
49
(61)
-
-
Other DfE/ESFA grants
-
459
(459)
-
-
Other government grants
-
307
(307)
-
-
Other restricted funds
-
75
(75)
-
-
Pension reserve
59
-
51
(110)
-
71
8,038
(7,859)
(250)
-
Restricted fixed asset funds
Inherited on conversion
6,729
-
(151)
-
6,578
DfE group capital grants
41
24
(9)
(25)
31
Capital expenditure from GAG
965
-
(137)
140
968
LA Capital Grants
2,292
-
(53)
-
2,239
Other Grants
16
-
(1)
-
15
Condition Improvement Fund
2,532
4,650
(54)
(80)
7,048
12,575
4,674
(405)
35
16,879
Total restricted funds
12,646
12,712
(8,264)
(215)
16,879
Unrestricted funds
General funds
853
669
(637)
105
990
Total funds
13,499
13,381
(8,901)
(110)
17,869

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 objects.

 

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 BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
16
Funds
(Continued)
- 40 -
Comparative information in respect of the preceding period is as follows:
Balance at
Gains,
Balance at
1 September
losses and
31 August
2022
Income
Expenditure
transfers
2023
£'000
£'000
£'000
£'000
£'000
Restricted general funds
General Annual Grant (GAG)
-
6,337
(6,259)
(78)
-
Pupil premium
-
197
(197)
-
-
Catch-up premium
22
49
(59)
-
12
Other DfE/ESFA grants
-
355
(355)
-
-
Other government grants
-
283
(283)
-
-
Other restricted funds
-
195
(195)
-
-
Pension reserve
(256)
-
33
282
59
(234)
7,416
(7,315)
204
71
Restricted fixed asset funds
Inherited on conversion
6,880
-
(151)
-
6,729
DfE group capital grants
24
69
(9)
(43)
41
Capital expenditure from GAG
980
-
(137)
122
965
LA Capital Grants
2,345
-
(53)
-
2,292
Other Grants
9
9
(1)
(1)
16
Condition Improvement Fund
2,494
318
(54)
(226)
2,532
12,732
396
(405)
(148)
12,575
Total restricted funds
12,498
7,812
(7,720)
56
12,646
Unrestricted funds
General funds
856
570
(799)
226
853
Total funds
13,354
8,382
(8,519)
282
13,499
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 41 -
17
Analysis of net assets between funds
Unrestricted
Restricted funds:
Total
Funds
General
Fixed asset
Funds
£'000
£'000
£'000
£'000
Fund balances at 31 August 2024 are represented by:
Tangible fixed assets
-
-
12,897
12,897
Current assets
1,030
602
4,677
6,309
Current liabilities
(318)
(352)
(667)
(1,337)
Accruals and deferred income
278
(250)
(28)
-
Total net assets
990
-
16,879
17,869
Unrestricted
Restricted funds:
Total
Funds
General
Fixed asset
Funds
£'000
£'000
£'000
£'000
Fund balances at 31 August 2023 are represented by:
Tangible fixed assets
-
-
12,465
12,465
Current assets
921
1,140
200
2,261
Current liabilities
(68)
(1,128)
(90)
(1,286)
Pension scheme asset
-
59
-
59
Total net assets
853
71
12,575
13,499
18
Pension and similar obligations

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 The Cheshire 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 that of the LGPS related to the period ended 31 March 2022.

Contributions amounting to £146,302 were payable to the schemes at 31 August 2024 (2023: £121,119) and are included within creditors.

Teachers' Pension Scheme
Introduction

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 BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18
Pension and similar obligations
(Continued)
- 42 -
Valuation of the Teachers' Pension Scheme

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:

The result of this valuation was 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 £863,736 (2023: £731,960).

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.

Local Government Pension 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 21.4% 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.

Total contributions made
2024
2023
£'000
£'000
Employer's contributions
319
410
Employees' contributions
98
89
Total contributions
417
499
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18
Pension and similar obligations
(Continued)
- 43 -
Principal actuarial assumptions
2024
2023
%
%
Rate of increase in salaries
3.35
3.70
Rate of increase for pensions in payment/inflation
2.65
3.00
Discount rate for scheme liabilities
5.00
5.20
The current mortality assumptions include sufficient allowance for future improvements in mortality rates.  The assumed life expectations on retirement age 65 are:
2024
2023
Years
Years
Retiring today
- Males
20.4
20.4
- Females
24.5
24.6
Retiring in 20 years
- Males
21.3
21.4
- Females
25.4
25.5
Sensitivity analysis

Scheme liabilities would have been affected by changes in assumptions as follows:

2024
2023
£'000
£'000
Discount rate - 0.1%
114
103
Mortality assumption + 1 year
206
186
Pension Increase + 0.1%
112
95
Salary Increase + 0.1%
4
10
Defined benefit pension scheme net asset
2024
2023
£'000
£'000
Scheme assets
5,486
4,700
Scheme obligations
(5,149)
(4,641)
Net asset
337
59
Restriction on scheme assets
(337)
-
Total liability/(asset) recognised
-
59
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18
Pension and similar obligations
(Continued)
- 44 -
The academy trust's share of the assets in the scheme
2024
2023
Fair value
Fair value
£'000
£'000
Equities
2,908
2,444
Bonds
1,810
1,551
Property
713
658
Other assets
55
47
Total market value of assets
5,486
4,700
Restriction on scheme assets
(337)
-
Net assets recognised
5,149
4,700
The actual return on scheme assets was £453,000 (2023: £(137,000)).
Amount recognised in the statement of financial activities
2024
2023
£'000
£'000
Current service cost
272
367
Interest income
(253)
(196)
Interest cost
249
206
Total amount recognised
268
377

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.

Changes in the present value of defined benefit obligations
2024
2023
£'000
£'000
At 1 September 2023
4,641
4,671
Current service cost
272
367
Interest cost
249
206
Employee contributions
98
89
Actuarial gain
(27)
(615)
Benefits paid
(84)
(77)
At 31 August 2024
5,149
4,641
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18
Pension and similar obligations
(Continued)
- 45 -
Changes in the fair value of the academy trust's share of scheme assets
2024
2023
£'000
£'000
At 1 September 2023
4,700
4,415
Interest income
253
196
Actuarial (gain)/loss
200
(333)
Employer contributions
319
410
Employee contributions
98
89
Benefits paid
(84)
(77)
At 31 August 2024
5,486
4,700
Restriction on scheme assets
(337)
-
Net assets recognised
5,149
4,700
19
Reconciliation of net income/(expenditure) to net cash flow from operating activities
2024
2023
Notes
£'000
£'000
Net income/(expenditure) for the reporting period (as per the statement of financial activities)
4,480
(137)
Adjusted for:
Capital grants from DfE and other capital income
(4,674)
(396)
Investment income receivable
6
(26)
(9)
Defined benefit pension costs less contributions payable
18
(47)
(43)
Defined benefit pension scheme finance (income)/cost
18
(4)
10
Depreciation of tangible fixed assets
406
406
Profit on disposal of fixed assets
(1)
-
Decrease/(increase) in debtors
232
(306)
Increase in creditors
51
464
Net cash provided by/(used in) operating activities
417
(11)
20
Analysis of changes in net funds
1 September 2023
Cash flows
31 August 2024
£'000
£'000
£'000
Cash
1,723
(174)
1,549
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 46 -
21
Long-term commitments
Operating leases
At 31 August 2024 the total of the academy trust's future minimum lease payments under non-cancellable operating leases was:
2024
2023
£'000
£'000
Amounts due within one year
11
5
Amounts due in two and five years
33
2
44
7
22
Capital commitments
2024
2023
£'000
£'000
Expenditure contracted for but not provided in the accounts
750
127
THE BISHOPS' BLUE COAT CHURCH OF ENGLAND HIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 47 -
23
Related party transactions

Owing to the nature of the academy trust and the composition of the board of trustees being drawn from local public and private sector organisations, transactions may take place with organisations in which the trustees have an interest. All transactions involving such organisations are conducted in accordance with the requirements of the Academies Trust Handbook, including notifying the ESFA of all contracts and agreements with related parties made on or after 1 April 2019 and obtaining their approval where required, and with the academy trust's financial regulations and normal procurement procedures relating to connected and related party transactions.

 

The following related party transactions took place in the financial period:

 

The Chester Diocesan Board of Education is a member of the academy trust. The academy trust purchased services from the Chester Diocesan Board of Education in the year totalling £1,770 (2023: £2,000). A balance of £150 was owed to Chester Diocesan Board of Education at the year end (2023: £450).

 

R Mainard is also a trustee of The Samara Trust. The academy trust provided services to The Samara Trust in the year totalling £720 (2023: £720). The academy trust also purchased services from The Samara Trust in the year totalling £nil (2023: £180). A balance of £nil was owed to the academy trust at the year end (2023: £180).

 

Rev M Tanner (Trustee) is also a trustee of the University of Chester. The academy trust provided services to the University of Chester in the year totalling £100 (2023: £nil), and received income of £5,750 (2023: £575) in relation to student placements in the year. A balance of £nil was owed to the academy trust at the year end (2023: £nil).

 

S Cairns, brother of H Cairns, a trustee, is employed by the academy trust as a teacher. S Cairns’ appointment was made in open competition and H Cairns was not involved in the decision making process regarding appointment. S Cairns is paid within the normal pay scale for his role and receives no special treatment as a result of his relationship to a trustee.

 

E Coffey, stepfather of H Cairns, a trustee, is employed by the academy trust as a supply teacher. E Coffey’s appointment was made in open competition and H Cairns was not involved in the decision making process regarding appointment. E Coffey is paid within the normal pay scale for his role and receives no special treatment as a result of his relationship to a trustee.

 

24
Members' liability

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.

25
Agency arrangements

The academy trust distributes 16-19 bursary funds to students as an agent for ESFA. In the year to 31 August 2024 the trust received £8,108 (2023: £7,139) and disbursed £8,378 (2023: £8,809) from the fund. An amount of £nil (2023: £270) is included in other creditors relating to undistributed funds that is repayable to the ESFA.

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