The Trustees present their annual report and financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the School's governing document, the Companies Act 2006 and 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 published in October 2019.
The School is a co-educational school. It is predominately a day school offering weekly and flexi boarding. The School comprises the following:
Nursery School - Early Years
Pre-Prep School - Reception to Year 2
Preparatory School - Year 3 to Year 6
Senior Prep - Year 7 (Aram) and Year 8 (Swale)
Senior School - Year 9 (Leckby), Year 10 (Eldmire), Year 11 (Thornton)
The Vision for the School
To provide a first-class character-based education which aims to ensure that every Cundall pupil emerges at 16 as a confident, caring, self-aware and independent young adult, ready to take on the challenges of the world.
As such our education offer means:
Embracing the opportunities provided by our stunning rural campus in North Yorkshire and creating a safe and supportive environment where pupils maximise their potential.
Ensuring every child is nurtured and encouraged to develop confidence and resilience through exceptional learning experiences that allow them to explore their creativity and be supported to take risks in their learning.
Providing outstanding academic teaching.
Providing an exceptional character-shaping co-curriculum involving the creative and performing arts, sport, outdoor education and service opportunities
Explanation of Aims
The founder, Harry Beckhough, established the school to produce young people of character who were able to solve the problems life presents and the school continues to thrive with that aim as a primary purpose;
Every opportunity (in academic lessons, in assemblies, through the PSHE programme and during enrichment activities) is taken to reinforce to our pupils the benefits of developing key life qualities such as resilience, kindness and confidence. The ‘Character curriculum’ is represented to pupils and parents in a diagram with academics at its heart
Pupils are encouraged to play outside (regardless of most weather conditions) during break times and they have daily opportunities to take part in supervised games as part of our curriculum and also our enrichment programme. Pupils also enjoy the ‘Wild Wood’, and camp out in the school teepees. The school chickens provide a rich educational and pastoral resource
The academic curriculum is reviewed annually to ensure that it is fit for purpose in each phase. Staff receive an annual appraisal and are encouraged to undertake CPD. There is careful analysis of pupil performance using data such as CAT 4
The co-curricular programme provides a multitude of opportunities in sport, drama, music and outdoor education. From Year 3 to Year 11, each child has the opportunity to undertake a residential trip or tour each year. All pupils in Year 9 undertake the Duke of Edinburgh Bronze Award. In Year 10 they can then take the Silver Award. The school community supports a number of charities on an annual basis.
Pastoral care is outstanding. Every pupil has a form tutor, a Head of House and a Head of Phase. There is a very experienced Learning Support Department and a School Counsellor is on site to provide an extra tier of support. The Designated Safeguarding Lead and the Safeguarding team are well trained. A pupil council meets regularly to discuss ideas with senior members of staff.
Every effort is made to ensure that parents and guardians are well informed about their child’s progress and they are encouraged to be proactive in the life of the school and attend school events through the FOCM (Friends of Cundall Manor)
Strategic Objectives for the Reporting Period
During the year ended 31 August 2024, the Trustees set the following key strategic objectives for the School
To begin the process of appointing a new Headmaster and review the structure of the Senior Leadership Team.
To prepare thoroughly for the ISI inspection in November 2024 with a view to achieving an excellent outcome.
To enhance and extend the School’s boarding provision in response to growing interest.
To maintain and grow the school roll despite prevailing economic pressures and the proposed imposition of VAT on independent school fees.
To ensure robust financial management through scrutiny of expenditure and the development of new income streams.
To maximise the utilisation of existing facilities and prioritise investment in future infrastructure.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the School should undertake.
Significant Activities Undertaken During the Year (1 September 2023 - 31 August 2024)
Cundall Manor remained steadfastly committed to the ‘Cundall character curriculum’ which is designed to develop lifelong qualities that allow our pupils to lead proactive, rewarding and altruistic lives. As such in addition to opportunities afforded within the classroom, Cundall pupils of all ages enjoyed a full co-curricular programme designed to challenge and inspire. This also meant that the school wholeheartedly supported its unique traditions including the Go Kart race, the Chocolate Cake Race, the Tee Pee camp outs and the whole school trip to Beadnell Sands.
The school offers an all through education from Nursery to KS4 with qualified members of staff experienced at teaching across key stages. Academic results were particularly impressive, not least in Thornton (yr 11) where there were thirty nine pupils, our largest cohort for some years. The results recorded 87% of all GCSEs were at least grade 4 and above, significantly surpassing the national average of 67.4%. 85% of pupils achieved 5 of more GCSEs at Grades 9-4. 30% of all GCSEs were graded 7 or above (the equivalent of A*- A grades) compared to the national average of 21.7%. Of particular notes was a 50% increase in Grade 9s, with many pupils achieving 8s and 9s in over half of their papers. The whole year value added was 0.93 which means that on average, pupils achieved almost one grade higher than the trajectory anticipated through baseline data in all subjects.
Sport remained at the heart of the school with hockey proving once again to be a strength. A number of pupils were selected to represent North Yorkshire and one was selected for the England U15 squad. Various teams won silverware at tournaments including the ISA national finals in London and the Loretto tournament in Scotland. In addition to hockey, the school enjoyed success at cricket, netball, and rugby.
Every child from in KS2 and KS3 was able to undertake a residential outward-bound trip. Swale pupils (Year 8) once again summited Ben Nevis and completed the Yorkshire ‘Three Peaks’. Most students in Leckby (Year 9) sailed in Cowes and successfully completed their DofE Bronze Awards whilst a number of students in Eldmire (Year 10) gained their Silver Awards. The Tee Pee camp outs are a staple Cundall traditional and helped foster a sense of community.
An international flavour was established with a successful ski trip to Jaspar in Canada as well as a group of KS4 pupils participating in our longstanding language exchange with Edelweiss School, Valencia. As always it was a joy to host our Spanish friends when they visited North Yorkshire. Our annual MFL French trip to Chateau de la Baudonniere meant a first trip to France for many students.
The creative and performing arts are well supported at Cundall. Art is amongst our strongest subjects at all stages of the school. The annual art exhibition underlining the creative talent within the student body. Our diverse musical offering included the formality of the Christmas Carol Service at Ripon Cathedral to our own rock festival. The senior school production ‘Annie’ was performed with joy, gusto, and revealed some excellent acting talent.
As always pupils took part in a number of charitable fundraising events through the year with the proceeds being donated to a variety of charities, including, but not limited to, Children in Need, Macmillan, St Michaels Hospice and Guide Dogs for the Blind. During the financial year ending 31 August 2024, the pupils raised £2,278.85 (2023: £1,252).
Post-Year-End Developments and Plans for the Future
Although outside the scope of this financial reporting year, the Trustees wish to highlight several key developments which occurred shortly after the year-end and are integral to the School's forward planning:
Appointment of a New Headmaster: Mr Simon Weale joined the School as Headmaster on 1 January 2025 following a rigorous recruitment process. Mr Weale brings significant leadership experience, most recently as Director of Bishop Cotton School in India and previously as Head of Shebbear College, Devon.
Strengthening of Key Office Functions: From September 2024, improvements have been introduced in Finance, Marketing, and Admissions to enhance operational efficiency.
ISI Inspection Outcome: In November 2024, the School was inspected by ISI and found to be fully compliant in all areas. Recommendations are currently under review by the teaching team.
Boarding Enhancements: The Boarding House reopened in December 2024 following renovations, and the School welcomed an immersion group from China as part of its renewed boarding strategy.
Cost Review and Efficiency Measures: The Board and SLT have undertaken a comprehensive review of expenditure and implemented cost savings to ensure a strong financial footing for the 2025/26 academic year.
Public Benefit
In setting objectives and planning future activities, the 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 education and fee charging.
In addition to the objectives and plans set out above, the Governors have undertaken to do the following:
To grant annually a number of scholarships to more able and talented children alongside means tested bursaries. The School offers academic, art, performing arts, music, sporting and all-rounder scholarships. The School offers means tested bursaries to aid parents and members of staff in respect of the fees payable for their children based on the policy and individual circumstances. Bursaries are reviewed and awarded annually following a forensic appraisal of the family’s financial circumstances. The Bursaries committee is devolved from the Finance Committee and comprises a minimum of three Trustees along with one independent panel member who is suitably qualified and remains independent from the daily management of the School. The School's charitable activities are and will continue to be constantly reviewed in the light of national recommendations. At the same time, to recognise and accept children of mixed ability and to continue to assist children who require learning support.
To increase the provision of education and the sharing of facilities with the local community, the School makes its facilities available for use by other organisations where these can be accommodated around the School timetable. These have included the use of the Astro Turf by hockey and football clubs in North Yorkshire, and the sports fields, gymnastics and tennis facilities by members of the local community. Various local businesses, including Brightwater Swimming and Waterbabies, use the swimming pool outside of the School timetable. To improve links with and share facilities with local schools, the School invites children from other schools to partake in sports events held at the School.
The Senior Leadership Team at Cundall Manor will continue to grow and promote the provision and use of School facilities to local community groups and charities with a focus on social responsibility and the environment.
Investment powers
Trustees may invest funds as they see fit, subject to any laws in place at the time.
The results for the year are presented on pages 11 to 13 of the Financial Statements. The total income for the year is £5,164,225 (2023: £5,042,875) and total expenditure of £5,379,393 (2023: £4,993,636). The total deficit for the year is £215,168 (2023: surplus of £49,239).
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In order to prepare the financial statements on the going concern basis management have prepared detailed financial projections which take account of normal operating conditions and known variable factors which have affected the forecast in the past. Pupil numbers are the main determinant of the operating surplus and cash flow of the School. The governors have concluded that that there is sufficient working capital to continue operations.
The Trustees have reviewed the reserves of the charity. This review encompassed the nature of income and expenditure streams, the need to match income with commitments and the nature of reserves. The Trustees have determined that the appropriate level of reserves which are not invested in tangible fixed assets should be in the range of 7% - 10% of fees and ideally 8.5% of fees (equivalent to about 4 weeks' expenditure, approximately £350,000). Our policy is therefore to seek to establish reserves at that level.
Risk Management
The Trustees actively review the major risks to which the School is exposed. The Trustees have examined operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Individual committees are responsible for reviewing and monitoring the management of risk in their particular area. They are satisfied that the mitigation of the identified major risks detailed below have been or are being addressed as follows:
Failure to Govern Effectively - Governing Body
Failure to deliver Educational Objectives - Governing Body, Education Committee
Failure to Safeguard Pupils - Governing Body, Pastoral, Wellbeing and Safeguarding Committee
Regulatory Non Compliance - Governing Body
Impact of Economic Climate - Governing Body, Finance Committee
Major Fraud or Financial Mismanagement - Governing Body, Finance Committee
Reputational Risk - Governing Body
Changes in Regulation and Law - Governing Body, Finance Committee
Within the overall risk management framework, emphasis will continue to be placed on pupil development and resilience, curriculum development, staff development and robust management processes to achieve the School Development Plan. This will be further enhanced with Continuous Professional Development for staff.
The School is a charitable company limited by guarantee incorporated on 3 January 1972. The Governing document is the Memorandum and Articles of Association of the same date as amended by special resolution registered at Companies House on 22 May 2017.
The School is a company limited by guarantee with no share capital (registration no. 1036833) and a registered charity (registration no. 529540). The charitable company’s Memorandum and Articles of Association are the primary governing documents of the School.
Recruitment, appointment, induction and training of new Trustees
Trustees can appoint any nominated person through the nominations committee.
Trustees are selected in accordance with the requirements of the School. As a collective unit the Trustees need relevant skills and experience to enable them to advise on the educational progression of the School, the wellbeing of the pupils and the development of the staff. The Trustees should also collectively have sound financial skills enabling them to monitor the current financial situation of the organisation and also advise on the financial impact of any strategic decisions. Individually a trustee should possess skills and experience enabling him/her to advise on management of people, financial matters, child protection and safeguarding, health and safety, marketing and overall business management.
Our Trustees are drawn from a wide range of professional backgrounds and include experience from within the independent and state education sectors all with the collective and shared objective for the furtherment of the school. Other Trustees include existing and past parents, primarily selected for the range of skills and experience that they bring to the board. All of the Trustees are allocated areas of responsibility within the various sub-committees which include finance, education, child protection & safeguarding, personnel welfare and management, health and safety, site management and maintenance and marketing. . Given the personal commitment required to fulfil the role, careful consideration is given to those who volunteer their services providing they meet the criteria above. The School is open to anybody being a Trustee regardless of age, race, religion, disability or gender.
Induction and training is primarily gained by experience of filling the role. However, specific training in certain areas is provided for Trustees to ensure that the Governing Body collectively has the skills required for governance of the School. Training is given to all Trustees annually on Child Safeguarding with identified Trustees being given more in-depth training. Prospective Trustees are issued a briefing pack containing information about the School, the roles and responsibilities of a Trustee and the need to attend training courses and obtain the relevant safeguarding clearance before they can formally be appointed. Following their appointment, they follow a set induction procedure. All Trustees are encouraged to attend training courses and seminars organised by AGBIS and other independent school bodies, Local Authorities, and to visit other similar schools inside and outside the region.
Organisational structure
Ultimate responsibility for the operation of Cundall Manor Limited rests with the Trustees who meet on a regular basis and at least quarterly. In addition, the Governing Body's designated sub committees meet on a regular basis and at least quarterly to review in depth specific aspects of the School within the committee's remit.
The day-to-day management of the School is the responsibility of the Headmaster. The Headmaster is responsible for setting and maintaining the academic standards of the School, developing the School, staff recruitment and for ensuring adherence to financial budgets. The Headmaster also has responsibility for managing the finances and administration of the school in conjunction with the Senior Leadership Team and Trustees.
The Trustees' report was approved by the Board of Trustees.
The Trustees, who are also the directors of Cundall Manor Limited for the purpose of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company, and of the income and expenditure of the charitable company for that year. In preparing the financial statements the Trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included in the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Opinion
We have audited the financial statements of Cundall Manor Limited (the ‘School’) for the year ended 31 August 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, 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).
In our opinion, the financial statements:
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 financial statements section of our report. We are independent of the School in accordance with the ethical requirements that are relevant to our audit of the financial statements 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.
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 School’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 Trustees' report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the Trustees' 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.
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 (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report has been prepared in accordance with applicable legal requirements.
In the light of the 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.
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;
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 and from the requirement to prepare a strategic report.
As explained more fully in the statement of Trustees' responsibilities in relation to the financial statements set out on page 5, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity’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 intends to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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 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 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:
The objectives of our audit, in respect to fraud are to identify and assess the risks of material misstatement of the financial statements due to fraud and obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses, and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
Our approach was as follows:
During our planning process we gained an understanding of the legal and regulatory frameworks that are applicable to charitable company and determined that the most significant of them, which are directly relevant to specific assertions in the financial statements, are those that relate to the reporting framework (FRS 102, the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK;
We gained an understanding of how the charitable company is complying with these frameworks by making enquiries of Trustees, key management and if necessary, advisors responsible for legal and compliance matters. We observed key controls and made appropriate enquiries following our review of contracts, interim financial data, board minutes and reports provided to the Trustees;
We independently assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud or error might occur by meeting with Trustees and senior management with the skills and experience necessary to determine the risk factors which they believe expose the company to susceptibility to fraud and error. We also considered the impact of any business targets, the personal financial circumstances of management and staff to create a driver for fraud. We considered the culture and controls that the charitable company has established to address the risks identified and evaluated the effectiveness of processes and procedures to prevent and detect fraud, and how senior management monitors those processes and controls. Where the risk was considered to be higher, we designed then performed audit procedures to address each identified fraud risk. These procedures included, but were not restricted to, testing large and unusual items, journals, and transactions with high estimation uncertainty. These tests were designed to provide reasonable assurance that the financial statements were free from fraud and error; and
Based on our audit plan and understanding of the risks that specifically affect the charitable company we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Our procedures involved substantive testing of transactions and walkthrough testing of appropriate controls, with a focus on transactions in the books of prime entry that have characteristics that may indicate fraud or error. We looked for unusual patterns, large or unusual transactions, weaknesses in the payments system and new supplier transactions based on our understanding of the charitable activity; enquiries of Trustees and management and the results from previous audit testing; and focused testing, on specific complex areas based on risk. In addition, we completed procedures to conclude on the other information and disclosures in the Trustees’ Report and accounts with the requirements of the relevant accounting standards and UK legislation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Trustees, 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 Trustees 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 Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
Cundall Manor Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Cundall Manor School, Cundall, York, YO61 2RW.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity’s registered office and the nature of the charity’s operations and principal activities are stated in the Trustees' Report.
The financial statements have been prepared in accordance with the School's governing document, the Companies Act 2006, 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) (issued in October 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
The School is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the School.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The governors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the funder or when funds are raised for a specific purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
School fees represent charges for the School for the year less bursaries and allowances given.
Donations are included in income when they are received. Other income is accounted for on a receivable basis.
Advanced fees
Where the School has received tuition fees in advance the amount is treated as deferred income.
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.
Expenditure are included in the Statement of Financial Activities on an accruals basis. Expenditure that can be directly attributed to charitable activities have been included under ‘direct costs’. Expenditure that cannot be directly attributed to charitable activities is included in ‘support costs’ and allocated on an appropriate basis.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Only fixed assets costing £500 or more are capitalised at cost.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and recognised when the company becomes a party to the contractual provisions of the instrument.
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount net or any trade discounts due.
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
The charity is exempt from tax on income and gains falling within section 478 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Retirement benefits
The School participates in a defined benefit pension scheme but is unable to identify its share of the underlying assets and liabilities (see note 20 for more details). In accordance with the Charities SORP therefore, the scheme is accounted for as a defined contribution scheme. The School also contributes to a defined contribution pension scheme. The pension costs charged to the statement of financial activities are the total contributions payable to the schemes in respect of the accounting period.
Termination benefits are recognised immediately as an expense when the School is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Finance lease
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
School trips
The School organises a number of trips for pupils to broaden their education and recharges the cost plus an administration fee as disbursements and includes the income as income from charitable activities.
Fundraising
Fundraising for the School is recognised in the accounts when the School is entitled to the money. Any fundraising for a particular purpose is recognised as a restricted donation. Fundraising for other organisations is excluded from the accounts as the School is not entitled to the income.
In the application of the School’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Provision of education
Ancillary income
Provision of education
Ancillary income
Gross school fees
Less: Total bursaries, grants and allowances
Uniform sales
Other income
After school club income
Rental income
Charitable Expenditure
Charitable Expenditure
Tutorial staff costs
Domestic staff costs
Catering
Casual wages
Laundry and cleaning
Telephone and postage
Printing, stationery and advertising
Academic and school requisites
Music and sport
Classroom rental
Travelling and motor expenses
Uniforms
Other expenditure
After school club expenditure
Financial costs
Legal and professional fees
Rates and water
Insurance
Light and heat
Repairs and maintenance
Hire of equipment
Freehold property depreciation
Swimming pool expenses
During the year the charity paid audit fees of £13,622 (2023: £9,223), accountancy fees of £3,912 (2023: £5,588), payroll fees of £6,057 (2023: £4,037), and general financial advice fees of £nil (2023: £1,160). All costs are shown inclusive of VAT.
The average monthly number of employees during the year was:
The total paid to key management personnel during the year was £393,463 (2023: £384,056). This amount includes redundancy and payments in lieu of notice.
The total amount of termination payments awarded during the year, which were limited to statutory redundancy and payments in lieu of notice, was £112,352 (2023: £nil). At the year end £36,083 was included in accruals (2023: £nil).
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £3,063 (2023 - £11,348) for the year.
Obligations under finance leases relates to a finance lease which is secured over the asset held under the agreement.
Obligations under finance leases relates to a finance lease which is secured over the asset held under the agreement.
The mortgage is repayable over 10 years from 18 April 2008 and expires on 2 May 2028, it had a year end balance of £256,577 (2023: £314,594). The interest rate is 2% over base rate. The bank loan is repayable over 10 years from 3 November 2016 and expires on 9 November 2026, it had a year end balance of £266,169 (2023: £372,915). The interest rate is 2.3% over base rate.
Borrowings of £522,746 (2023: £687,509) are secured on the charitable company’s freehold land and buildings and a fixed and floating charge over all current and fixed assets of the company.
Deferred income is included in the financial statements as follows:
Deferred income comprises fees received in advance for future periods.
Income
Expenditure
Income
Expenditure
Capital donations – this relates to monies received for the purchase of capital items.
Summer ball donations – this relates to funds received for the summer ball.
Wellbeing unit donations - this relates to monies received for the well-being unit.
Swimming pool changing room donations - this relates to monies specifically restricted to the swimming pool changing room works.
Small donations - This relates to funds raised by Friends of Cundall Manor for non-capital items.
Friends of Cundall Manor - This relates to funds raised by Friends of Cundall Manor and which had not been spent at the year end.
Ball Committee - This relates to funds raised by the Ball Committee and which had not been spent by the year end.
Transfers from restricted funds relate to the reallocation of the net book value of fixed assets to unrestricted funds, with the exception of £8k from the swimming pool changing rooms fund which relates to expenditure from the fund not allocated in previous years.
The pension cost charge represents contributions payable by the School to the funds and amounted to £518,250 (2023: £513,436). There was £84,409 (2023: £85,918) outstanding to the pension scheme at the year end (including amounts collected from the employees).
At the reporting end date the School had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
During the year the charity recognised operating lease payments of £30,261 (2023: £22,086) as an expense.
During the year no Trustees (2023: none) received remuneration nor expenses (2023: none) for services provided to the charity.
During the year S Kayll, the wife of trustee S Kayll, received remuneration of £2,669 for admin services provided to the charity (2023: £nil).
Included in the staff costs of £3,671,104 are costs of £103,640 for 3 individuals; D Thyne, S Kayll, and F Thompson, who are close family members' of trustees C Burrows, S Kayll, and A Mindenhall (2023: £109,700 for the same 3 close family members). The salary and overall reward package has been approved by the governing body on an arms length basis in accordance with the trustees' policies on retention and reward. This employment is in accordance with all of the terms and conditions of the employment contract with the governing body. The sums involved comprises gross salary, national insurance and pension payments.
During the accounting period the trustees have reviewed the accounting treatment of the results of various fundraising initiatives undertaken by the school and individuals associated with the school (typically parents of current and / or former pupils). The trustees have concluded that the prior accounting should be refined so as to reflect the fact that the ultimate use of funds raised will be determined by the trustees, albeit in consultation with the individuals who have coordinated the fund raising activity. The restricted funds balances at 31 August 2024 represent the balances of bank accounts over which the school has ultimate control.
The effect of this refinement in accounting treatment is as follows:
Increase both cash at bank and restricted funds by £22,071 at 31 August 2022.
Increase restricted income by £57,027 and increase restricted expenditure by £31,013 for the year to 31 August 2023.
Increase both cash at bank and restricted funds by £48,085 at 31 August 2023.
There is no effect on unrestricted funds and therefore no effect on free reserves of the charity at 31 August 2023.
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.