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Registered number:
Charity number:
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
CONTENTS
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report together with the audited financial statements of the Charity 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 under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Bedford Greenacre Independent School Limited is a company limited by guarantee (number 12334380) and a registered charity (number 1194080). The company was incorporated on 26 November 2019 with the operating activities for the current School activities commencing on 1 May 2021 following the merger of Rushmoor School Limited and St Andrew’s School (Bedford) Limited.
Structure, governance and management
a. Governing document
The Company is governed by its Articles of Association which provide for the company to operate as an educational charity. They also provide for the income and property of the company to be applied solely towards its objectives and no assets or funds shall be paid or distributed to members of the association.
b. Governing body
The Governors are the Directors of the Company and comprise the Governing Body of Bedford Greenacre Independent School ("the Council"). The school is governed by the Governing Body which operates with the support of a number of committees. Directors serve for a period of 3 years but are eligible for re-election at the AGM. The Governing Body meets regularly - at least termly, with more frequent meetings, as required, from time to time.
The members of the governing body are shown on page 1, together with the committees they serve on. The committees also benefit from the support of senior members of the school staff and Heads of various Departments and, in the case of the Education Committee, selected students attend the committee by invitation.
c. Methods of appointment or election of Trustees
d. Organisational structure and decision-making policies
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Structure, governance and management (continued)
1.Education Committee – this committee is responsible for oversight of the academic performance of the school and for educational policy, as well as overseeing pastoral matters. It makes appropriate recommendations to the Governing Body.
2.Finance & Resources Committee – this committee considers income and expenditure, both revenue and capital budgets, cash flow information and financial reports, including financial statements. The committee also reviews debtors and oversees bursaries and scholarship budgets. The committee makes recommendations to the Governing Body for approval.
3.Human Resources (HR) Committee – the committee considers staff remuneration and employment issues. It is responsible for supporting people development and retention in relation to ensuring the HR strategy and supporting policies and processes are fit for purpose. The committee reports regularly to the Council.
4.Fundraising Committee – this committee was initially created to raise money for the new school and will be continuing for the future.
5.Health and Safety Committee – This committee provides an oversight of the school’s internal Health & Safety (H & S) policies and procedures. The school liaises with the School's H & S consultant on a regular basis, ensuring that remedial action is carried out as required.
Each Committee reviews policies as relevant to their Committee on a biennial basis according to a set calendar, and then asks the full board to ratify those policies for that term. The safeguarding policy and procedures are reviewed each year in the autumn term by the full Governing Body as required by law.
e. Pay policy for key management personnel
f. Related party relationships
We also co-operate with local charities in our ongoing endeavours to widen public access to the schooling we can provide, to optimise the educational use of our cultural and sporting facilities and to awaken in our pupils, in the public interest, an awareness of the social context of the all-round education they receive.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Structure, governance and management (continued)
Officers of the school also administer the Brian James Able Bursary Fund, a separate registered charity which supports students whose parents/guardians face unforeseen difficulties in paying school fees. The trustees of the Brian James Able Bursary Fund include the Principal and Business Manager of Bedford Greenacre Independent School.
Objectives and activities
a. Principal activities
The principal activity continues to be the delivery of quality education to pupils from different social, economic and cultural backgrounds with a wide range of activities within and outside the classroom. The School also aims to host a number of external activities and ensure that facilities are available at other times for use by the local community. Alongside this regular programme we offer our new co-educational Joint Sixth Form unit which provides a wide range of “A” level subjects. Despite the difficult economic climate, we continue to maintain high numbers of pupils within the school and we are pleased that the current year has continued this momentum with significant interest in the new site. Medium and Longer-term objectives are outlined below.
b. Charitable objects
c. Main activities undertaken to further the Charity's purposes for the public benefit
In setting our aims and planning our activities Governors have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee-charging. Bedford Greenacre Independent School Limited provides up to 841 pupils with good, sound education at no cost to the public purse; our fees are set at a level to ensure the financial viability of the School and at a level that is consistent with our aims of providing a first class education to all pupils and good value to parents.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Objectives and activities (continued)
The School welcomes pupils from all backgrounds. To admit a prospective pupil we need to be satisfied that our School will be able to educate and develop that young person to the best of their potential and in line with the general standards achieved by their peers. Entrance interviews and assessments are undertaken to satisfy ourselves and parents that potential pupils can cope with the pace of learning and benefit from the education we provide. An individual’s economic status, gender, ethnicity, race, religion or disability do not form part of our assessment processes.
The School, being part of a wider community, is keen that our staff and pupils participate in that community. Thus the School provides a range of support which contributes both to the school itself but also provides a wider public benefit.
∙A number of children with an Education, Health & Care Plan or who require support with their education are provided with help from a dedicated Special Needs Team to ensure they are given the best possible assistance to achieve their potential. This is particularly helpful to parents who have not been able to find this level of support in the maintained sector.
∙The School has reviewed and extended its own provision of bursaries which are linked to parental income. They will inevitably be limited, as the only source of funds is provided by fee income from other parents, the School not possessing the benefit of endowed funds on which to draw. The Governors have however committed to provide a Bursary Fund which is equal to 5% of its fee income.
∙The School also manages the Brian James Able Bursary Fund, a separate charity, which provides small short term bursaries for children whose families experience unforeseen financial difficulty and enables those children to continue their education without interruption and continue to take a full part in the life of the School.
∙Bedford Greenacre Independent School Limited has links with a local university and provides places and mentoring for a number of students who are training to become teachers. The School also provides opportunities to gap year students to develop skills in order to pursue a teaching career in the future.
∙The Sport Department has for many years been seen as a strength of the School. We organise events for the Independent Schools Association and provide their representative for the London North area. We are very successful at local, county and national level. We regularly take part in the School games locally which is part of the legacy of the Olympic Games, encourage sports for all, whatever the ability and also provide support for sporting events, such as ambassadors for the School Games and young leaders in local athletics events. The school has a strong reputation for rugby, netball and athletics, making sure our pupils understand the rules and fair play.
∙The Art Department has had success this year with winners in regional competitions and winners/highly commended at national level.
∙In Drama the school has a good reputation and won in various categories at the Bedfordshire Music, Speech and Drama Festival held in February 2024. The School considers music, drama, art and design to be important in a child’s educational experiences and we welcome all children throughout the school to participate in productions to gain experience of performing in front of audiences; this starts from the EYFS and continues throughout the school. We invite guests to these performances, such as local care home residents and pupil groups also visit residential homes to provide performances for the residents.
∙The school hosts events for the Independent Schools Association, London, such as athletics, rugby and cross-country. The school also hosts ISA staff training seminars in academic matters such as special educational needs support.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Objectives and activities (continued)
∙The school recently won the highly prestigious ISA National Award for Learning Support Provision and outstanding EYFS provision.
∙The Governors are committed to developing our programme of cooperation and joint working with local maintained sector Junior and Secondary Schools such as the Chiltern Learning Trust.
d. ISI inspection
The school has been judged to be Excellent in all categories in our ISI inspection. The EYFS was awarded Outstanding for provision in all areas.
e. Equal opportunities
We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, sex, sexual orientation or disability. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled.
f. Policies supporting the charitable objectives
It is important to us that access to the education we offer is not restricted to those who can afford our fees. We believe our pupils benefit from learning within a diverse community. A great deal of learning occurs through social interaction, conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other people that will be vital in their adult lives. Our concessions policies, including bursaries and scholarships, contribute to a widening of access to the education we offer and the facilities we enjoy. Grant making policies: Bursary policy The Governors view our bursary awards as important in helping to ensure children from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are available to all who meet our general entry requirements and are usually made on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk. In assessing means we use the methodology promulgated by the Independent Schools’ Bursars Association, which takes a number of factors into consideration including family income, investments and savings and family circumstances, for example dependant relatives and the number of siblings. The School does not possess endowment resources and in funding our awards we need to ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child’s education, and those benefiting from the awards.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Objectives and activities (continued)
The purpose of our scholarship awards is to recognise academic potential or the ability to excel in our co-curricular activities. Our scholarships are awarded on the basis of the individual’s academic potential and/or evidence of exceptional abilities which will contribute to our co-curricular activities. We advertise the availability of scholarship awards regularly and details of both our Bursaries and Scholarships may be obtained from the School's Business Manager. Other policies on assistance: Financial planning policy and fees in advance Timely financial planning is often the key for many parents and indeed grandparents who are hoping to send their children to Bedford Greenacre Independent School and a school fees plan is available to help those who wish to fund educational costs through regular contributions. Discounts are available for those wishing to pay lump sums into our Fees in Advance Scheme. Sibling remissions To underline the value we place on continuity for families, we offer discounts where parents have or will have had more than two children at the School. A remission of 10% is given against the fees for additional siblings, throughout their time here and regardless of whether elder siblings are still at the School. Assistance for our members of staff As part of our emphasis on attracting and retaining high calibre staff, we offer a discount scheme where staff members choose to educate their children at the School. Public benefit aims and intended impact Within the objects, the School aims to create an environment to nurture children, to get the best from them, to allow them to develop and fulfil their potential. We provide them with a first-class independent education, strong pastoral support and a wide range of sporting and artistic opportunities. The ethos of Bedford Greenacre Independent School is at the heart of everything. Our public benefit aim is that all pupils will be self-confident and desire to contribute to the wider community. In the furtherance of these aims the School's Governors, as the charity trustees, have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance concerning the operation of the public benefit requirement under that Act. Bedford Greenacre Independent School provides a significant benefit to the public. The School strives to ensure that measures of public benefit are appropriate, and that significant sections of the public are not excluded from the opportunity to benefit from the education and facilities offered due to the need to pay a fee. In addition to significant provision of bursaries and other forms of financial support, the School provides a wide range of opportunities for community benefit and facilities, and events are often open to all.
g. Short term objectives
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Objectives and activities (continued)
h. Volunteers
Strategic report
Achievements and performance
a. Main achievements of the Charity
The School measures its achievement in the ‘value added’ performance of its pupils. The mean value-added results over the last 3 years shows an increase per pupil from their base line test on entry to the school and have met their indicator grades. The focus for the next 5 years and beyond is to maintain and then improve upon this figure to include assessment and tracking at all age groups up to A level. Curriculum changes and the change to linear examinations will impact on our pupils’ results due to some of their specific educational needs. We also continue to focus on value-added for the Able Gifted and Talented pupils.
The School’s Self Evaluation Plan focused on improvements to teaching and learning, ensuring good teaching practice is common throughout the school. It also looked at the changes to the EYFS introduced by the Government which is ongoing. The teachers are developing further methods to improve the ways in which pupils can become ‘independent learners’; this will help them in preparation for the new linear style GCSEs. All teachers are also ensuring that the outcomes are high for pupils of all abilities at the end of lessons. The School has recently invested in a new Management information system – Engage and staff are receiving training to use this efficiently and effectively. The School's 2023/24 School Improvement Plan focused on the above areas; additionally we continue to develop the performance management process for teaching and non-teaching staff, together with ensuring that Governors receive regular training in their key roles and are provided with any updates and changes to legislation. Succession planning within the governing body/trustees is also a key focus. Another aim has been to ensure that Governor’s visits focus on the elements on the improvement plan to ensure understanding among the trustees. Particular emphasis has been placed this year on the impact of teaching on the pupil’s personal development and academic achievements, which was the focus of the ISI Inspection. Performance management is now more concentrated on the impact of learning for all ability levels. The School is continually looking for ways to improve the curriculum and introduce new subjects; in the past 2 years we have introduced Cambridge Technical Courses in Physical Education and ICT to our Sixth Form provision. We have also reviewed our timetable to allow for extra tuition in the core subjects, particularly English and Mathematics. We have recently reviewed and updated the education of PSHE, mental health and wellbeing, careers and RSE in the school curriculum according to the changes recommended by the government. The introduction of two school counsellors has helped with pupil mental health and wellbeing.
b. The promotion of education
The School provides a very high standard of education and this is validated in review of the academic results, our measurements of added value and through external inspection. The School offers a broad curriculum and educates children with a wide range of ability. We continue to demonstrate particular excellence across a broad range of subjects as evidenced by the academic results shown below. Our aim is to support children in reaching their potential in all areas of their activity at the School. This may be in academic subjects but could just as easily be reflected in success in Art, Drama, Sport or Music. We produce ‘well rounded’ individuals who are able to make a positive contribution to society.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Achievements and performance (continued)
c. Academic results
Linear GCSE exams have challenged pupils like never before and BGIS has certainly risen to the challenge. The overall pass rate at GCSE remains at high percentages which is very pleasing and well over 75% of pupils achieve 5 or more grade 4-9 passes. BGIS also achieved a significant number of higher grades (6+) which are very hard to secure with the new specifications being so challenging.
BGIS Sixth Form are very proud to have expanded our A level offer to 18 subjects as well as the Cambridge Technical award in Business, IT and PE and Extended Project Qualification. It was again a very successful year for our “A” level cohort, with the majority of students gaining grades A-E in all their subjects. All of our students have gone on to follow their chosen pathway and the majority of our university entrants all secured their first-choice courses.
d. Improving facilities
We continue to improve facilities through constant investment in the fabric of the buildings and other assets. We continue to invest intensely into computing facilities in the school to ensure it is fully up to date on ICT, make further improvements to the Wi-Fi at the school in all areas and invested further improvements on the décor of both sites used throughout 2023/24. The school moved to its new, purpose-built facilities in December 2024.
e. Wider experiences
Bedford Greenacre Independent School offers many outdoor pursuit activities from the Junior School upwards. There are numerous opportunities to attend residential trips and our aim is to make them as affordable as possible. Examples include; trips to PGL venues and Blue Peris in Snowdonia, Wales, the annual ski trip to Les Menuires in France, Bushcraft skills in a local forest area. We also offer afterschool clubs in pursuits in sports, arts and academic areas.
We have been running the Duke of Edinburgh’s Award scheme for many years and we offer the scheme at Bronze and Silver and now with the introduction of the 6th form, the Gold level. The scheme includes four components: Skills, Volunteering, Physical Recreation and Expeditions. We also join a local independent school in facilitating our pupils in the Combined Cadet Force.
f. Strategic developments
Land at Clapham Park
With the purchase of the 40-acre site between Clapham Road and Manton Lane, Bedford secured in 2015, the Governors have progressed with the concept of a new school on the site. As at 31 August 2024 the works were well advanced and the school started to operate from the new facilities in January 2025. Information commitment The School has entered an exciting period of its development and the Governors, Principal and Senior Management of the school are committed to sharing up to date information on all aspects of the projects with parents and stakeholders of these major enterprises as they unfold over coming months and years.
Financial review
a. Going concern
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Financial review (continued)
b. Reserves policy
The trustees are seeking to generate annual operating surpluses over the forthcoming years, to ensure that the charity has sufficient reserves to meet its ongoing operational requirements. At 31 August 2024, the charity had focused on generating an additional £1m of cash to fund investment in new equipment, fixtures and fittings for the new premises.
c. Results for the year
The charity reported an operating surplus of £1,035,118 (2023: £567,976) for the year, having received income totalling £7,925,409 (2023: £7,066,442). The operating surplus in both years have been achieved during a period of continued political and economic uncertainty.
d. Investment policy
e. Principal risks and uncertainties
The principal risks to which the School is exposed include those affecting protection of pupils and security and preservation of charitable assets both now and in the future. Significant risk areas:
∙the market in which the School operates is highly competitive and we monitor developments in education to ensure that pupils always receive a first class, holistic and varied educational experience in our School.
∙we strive to ensure that all staff are able to work in a safe and supportive environment and policies, procedures and training in Human Resource management and Health and Safety help to ensure that the School meets expectations.
∙the School operates in a highly regulated sector, including in matters of child protection, and we appoint appropriate senior staff members as well as professional advisers to ensure that we can keep up to date with all requirements; School or individual membership of bodies being the constituent associations of the Independent Schools Council also ensure that we have access to up to date information and support.
∙all organisations face uncertain economic conditions and Directors and Senior Managers in the School keep
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Financial review (continued)
abreast of economic conditions locally, nationally and internationally to identify trends and develop plans to address issues.
The key controls used by the School include:
∙formal agendas and minutes for all meetings of the Governing Body and committees.
∙terms of reference for all committees.
∙comprehensive strategic planning, financial forecasting, budgeting and management accounting.
∙established and identifiable organisational structures and reporting lines which are regularly reviewed.
∙comprehensive formal written policies.
∙clear authorisation limits.
∙vetting procedures, as required by law, for protection of the vulnerable.
∙the Governing Body undertakes its own review of Committee documentation and procedures.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Financial review (continued)
The School plans strategically having regard for risk. Senior Management provides the Governing Body with regular reports which include details of the principal strategic objectives and the activity to achieve those objectives. The School also records significant achievements and updates the Governing Body on short-term plans.
f. Financial risk management objectives and policies
The School uses financial instruments such as cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from operations to finance the group’s operations. The School maintains good liquidity levels in order to minimise financial risk and a number of checks are in place in order to mitigate the risk of fraud.
g. Principal funding
Plans for future periods
The School's focus in recent years has been working with Greenacre Trust to develop the new premises which were completed in December 2024. The School's activities moved to the new site in January 2025 and the focus of the new year will be in ensuring that the new facilities are well equipped to meet the needs of staff and students.
Statement of Trustees' responsibilities
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
Statement of Trustees' responsibilities (CONTINUED)
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
∙so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
∙that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Streets Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEDFORD GREENACRE INDEPENDENT SCHOOL
We have audited the financial statements of Bedford Greenacre Independent School (the 'charity') for the year ended
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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 charitable company'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.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEDFORD GREENACRE INDEPENDENT SCHOOL (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the 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 financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
∙the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements.
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Trustees' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit; or
∙the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEDFORD GREENACRE INDEPENDENT SCHOOL (CONTINUED)
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulation
∙we identified the laws and regulations applicable to the company through discussions with trustees and other management, and from our commercial knowledge and experience of the school
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, Schedule to the Education (Independent School Standards) Regulations 2014; data protection, employment, taxation, environmental and health and safety legislation.
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BEDFORD GREENACRE INDEPENDENT SCHOOL (CONTINUED)
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 2 were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statements and disclosures to underlying supporting documentation;
∙reading the minutes of governor meetings of those charged with governance; and
∙enquiring of management as to actual and potential litigation and claims.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Registered Auditors
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
27 May 2025
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
REGISTERED NUMBER: 12334380
BALANCE SHEET
AS AT 31 AUGUST 2024
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Bedford Greenacre Independent School is a charitable company limited by guarantee, incorporated in England and Wales. The registered office is Manton Lane, Bedford, Bedfordshire, England, MK41 7FZ (formerly 58-60 Shakespeare Road, Bedford, MK40 2DL) and the principal activity is to educate children from Bedford and the surrounding areas and, in particular, to help those who have special educational needs.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.Accounting policies
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2.Accounting policies (continued)
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2.Accounting policies (continued)
The Charity contributes to a defined contribution pension scheme for the benefit of non-teaching staff. The pension charge represents the amounts payable by the Charity to the pension fund in respect of the year.
The Charity is a member of Teachers Pensions, a multi-employer defined benefit pension scheme for the benefit of teaching staff. As the Charity is unable to obtain sufficient information to enable it to account for the plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
8.Analysis of expenditure by activities (continued)
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Deferred income includes £1,565,399 (2023: £457,408) for fees paid in advance of the autumn term and contributions to school trips taking place in the new academic year amounting to £Nil (2023: £Nil).
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
17.Analysis of net assets between funds (continued)
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BEDFORD GREENACRE INDEPENDENT SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
In January 2025 the charity moved into and began operating from the new premises on Manton Lane. The premises will be let from Greenacre Trust at a commercial rate and this will mark the start of a significant and long term operating lease commitment.
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