The trustees present their annual report together with the financial statements and auditor's report of the charitable company for the year 1 September 2024 to 31 August 2025. 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 an academy for pupils aged 11 to 18 serving a catchment area in Wirral and North Wales. It has a pupil capacity of 1,283 and had a roll of 1,189 in the school census in September 2025.
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 herewith referred to as West Kirby Grammar School (WKGS).
The trustees of West Kirby Grammar School 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 financial statements are approved, are included in the Reference and Administrative Details on page 1.
Each member of the charitable company undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10, for the debts and liabilities contracted before they ceased to be a member.
In accordance with normal commercial practice, the academy has purchased insurance to protect trustees, local governors and officers from claims arising due to negligent acts, errors or omissions occurring on school business.
There are currently 16 governors representing various local stakeholders, five elected parent governors from the prevailing parent body, three elected staff governors, five appointed governors (reflecting the skills required of a modern academy as determined by the other governors) and the Headteacher.
Governors undertake an induction programme in line with the school's induction policy for governors including meetings with the Chair of Governors and the Headteacher.
Governors are encouraged to attend the training sessions provided by the Local Authority.
Principal activities
In setting the school’s objectives and planning its activities, Governors have given careful consideration to the Charity Commission’s general guidance on public benefit. The school is a charitable company limited by guarantee and an academy trust.
West Kirby Grammar School is a selective girls’ grammar school with a co-educational Sixth Form. Admission at age 11 is coordinated by the Local Authority under Wirral’s coordinated admissions arrangements and the school’s Admission Policy. In accordance with statutory requirements, priority is given to looked-after and previously looked-after children, followed by other oversubscription criteria set out in the policy. Boys are admitted to the Sixth Form alongside girls who meet the entry requirements.
The school is committed to providing a safe and healthy environment in which every student can flourish academically, socially and personally, and to promoting equality of opportunity in line with the Equality Act 2010.
The academy trust operates a three-tier governance and leadership model:
Members
Members are the guardians of the governance of the academy trust. They hold the Board of Trustees to account for the effective governance of the trust and exercise reserved powers, including:
appointing and removing trustees (in accordance with the Articles of Association)
appointing the external auditor
amending the Articles of Association (subject to any required consents)
receiving the annual report and financial statements.
Members are not involved in the day-to-day governance or management of the school.
Board of Trustees (the governing body)
The Board of Trustees is responsible for the strategic direction, oversight and stewardship of the academy trust, ensuring compliance with company, charity and education law and with the Academy Trust Handbook. Key responsibilities include:
setting the trust’s vision, values and strategic priorities and monitoring their delivery
overseeing educational performance and the quality of education
approving the budget and monitoring financial performance, internal control and value for money
overseeing risk management, health and safety, safeguarding (including Prevent) and data protection
approving and reviewing key policies and the School Development Plan
overseeing staffing structures, performance management and pay.
The Board discharges certain functions through its approved Scheme of Delegation
Senior Leadership Team (SLT)
The SLT comprises the Headteacher (Accounting Officer), one Deputy Headteacher, four Assistant Headteachers and the Finance Director (Chief Financial Officer). The SLT is responsible for the internal organisation, management and control of the school and for implementing the policies and strategic decisions of the Board of Trustees in line with the Scheme of Delegation.
'Key management personnel' is a term used by FRS 102 for those persons having authority and responsibility for planning, directing and controlling the activities of a reporting entity, directly or indirectly, including any director (whether executive or otherwise). This definition for WKGS includes the Headteacher, Deputy Headteacher, four Assistant Headteachers and the School Finance Director. These staff are the senior management personnel to whom the trustees have delegated significant authority or responsibility in the day-to-day running of the academy trust. The setting of pay and remuneration of key personnel is managed by Governors who follow statutory guidance and the School's Pay Policy. This task is delegated to an appointed committee of Governors who carry out the Headteacher's formal appraisal annually. Decisions are then taken to the Full Governing Body to be ratified.
West Kirby Grammar School works collaboratively with a range of external organisations and partners to enhance opportunities for students and to promote wider community engagement.
The academy trust works closely with the Department for Education (DfE) and Wirral Local Authority in fulfilling its statutory responsibilities. It also collaborates with local primary and secondary schools within the Wirral locality to support transition, outreach and enrichment activities across a range of subjects, including Mathematics, Drama and Science.
Through the Shaping Futures programme, the school provides outreach and aspiration-raising activities for disadvantaged students across primary schools in the region, supporting access to higher education and broadening future opportunities.
The school also partners with Edukid, supporting their charitable work to improve access to education for children in Peru. This collaboration is embedded in the school’s wider charitable and social responsibility initiatives.
West Kirby Grammar School is a member of the Grammar School Heads’ Association (GSHA) and engages regularly with other grammar and maintained schools across the North West to share best practice in curriculum development and leadership.
All relationships and partnerships operate on an arm’s-length basis and are undertaken wholly in the interests of the academy trust and its charitable objectives.
The charitable object of West Kirby Grammar School, as set out in its Articles of Association, is to advance education for the public benefit by establishing, maintaining, carrying on, managing and developing a school offering a broad and balanced curriculum.
In fulfilling this object, the academy trust seeks to realise its vision of Pioneering Excellence and Compassionate Community by living out its core values of Community, High Expectations, Opportunity, Innovation, Curiosity and Endeavour. Together, these values define who we are and how we work.
Our strategic aims for 2025–26 are set out across four key pillars:
Igniting Minds – Exceptional Learning within the Classroom
We strive to deliver consistently exceptional teaching and learning. Lessons challenge students to think deeply, reflect and grow in confidence. Subject teams refine shared models of great teaching, informed by research and collaboration. Assessment and adaptive practice ensure that all learners – including those who are disadvantaged or have SEND – are supported to achieve their full potential.
Beyond the Academic – Unleashing Personal Growth and Learning Experiences
We aim to provide every student with the opportunity to flourish beyond the classroom. Leadership, creativity, service and self-belief are central to our wider curriculum. Personal development, enrichment and real-world experiences form an integral part of each student’s journey, ensuring they leave WKGS equipped with the confidence, independence and skills to thrive in life.
Nurturing Respect – Fostering Inclusive Collaboration and Resilience in a Caring Environment
We are committed to sustaining a culture of belonging, fairness and respect. Our behaviour principles are rooted in care, communication and consistency. Students are recognised for their effort, character and contribution as well as their outcomes. We promote positive wellbeing, equitable recognition and inclusion, ensuring every member of our community feels known, supported and valued.
Leading Today, Empowering Tomorrow – Building Networks and Inspiring Excellence
We develop leadership at every level, nurturing staff and students to lead with integrity, confidence and compassion. Through the Great Leadership Framework, we invest in professional growth, coaching and collaboration. Our Sixth Form vision champions independence, aspiration and care for others, strengthening its identity and visibility as a centre of excellence for post-16 education.
Achievements by the Board of Trustees during the year
During the year, the Board of Trustees:
Monitored financial performance against the approved budget and maintained strong financial governance
Evaluated progress against the School Development Plan (2024–25), including key improvements across the Strategic Direction pillars
Scrutinised progress and outcomes in Quality of Education, Behaviour and Attitudes, Personal Development and Leadership & Management
Oversaw staffing structures, recruitment and performance management, aligning them with strategic priorities
Monitored safeguarding, wellbeing, health and safety, and risk management to ensure compliance and a culture of care
Promoted and supported outreach and charitable activity, including partnership work with Shaping Futures and Edukid
Aims for the Forthcoming Year
The academy trust’s aims for 2025–26 align with its vision of Pioneering Excellence and Compassionate Community and the four pillars of its Strategic Direction.
Igniting Minds – Exceptional Learning within the Classroom
We will refine subject-specific models of great teaching to sustain consistently strong pedagogy across all departments. Research-informed approaches, including Talk for Learning, will continue to shape classroom dialogue and metacognition, ensuring that lessons challenge students to think deeply and achieve highly. Assessment and adaptive practice will be strengthened to secure equity of outcome for all learners, including those with SEND and those who are disadvantaged.
Beyond the Academic – Unleashing Personal Growth and Learning Experiences
We will enhance the impact of Tutoring with Purpose, developing the Form Tutor role to promote belonging, confidence and personal growth. Leadership, creativity and service will remain central to our wider curriculum, ensuring every student benefits from meaningful enrichment and leaves WKGS equipped with the skills and confidence to thrive.
Nurturing Respect – Fostering Inclusive Collaboration and Resilience
We will consolidate a shared language of behaviour to sustain clarity, consistency and respect. Positive noticing will be embedded in daily practice so that all students feel valued for their character, contribution and effort. We will strengthen our work on attendance, wellbeing and inclusion so every student feels known, visible and supported.
Leading Today, Empowering Tomorrow – Building Networks and Inspiring Excellence
We will implement the Great Leadership Framework to support values-led development for staff, with a focus on building middle leadership capacity. The alignment of CPDL, Department Development Time and QA will ensure purposeful, evidence-informed practice. We will strengthen the distinct identity of the Sixth Form, enhancing recruitment, retention and the quality of student experience.
To achieve these aims, the trust will:
Sustain high expectations and collaboration across all staff teams
Embed evidence-informed strategies that improve learning and adaptive practice
Ensure equity of opportunity for disadvantaged and SEND learners
Strengthen personal development through Beyond Horizons and Tutoring with Purpose
Promote leadership progression through coaching and reflection
Continue to celebrate wellbeing, inclusion and community across the school
The trustees have complied with their duty to have due regard to the guidance on public benefit issued by the Charity Commission in exercising their powers and duties. The main activities of the school which constitute the entity as a public benefit is the provision of education.
The year covered by these financial statements reflects the thirteenth year for West Kirby Grammar School as an academy. The following paragraphs present a review of the significant achievements during the year in pursuit of furthering its charitable purposes for public benefit.
Systems since converting to an academy are now embedded and working successfully. The finance team, senior management and teachers are all ensuring that high standards of governance are maintained.
The school has once again excelled academically with an Attainment 8 score of 71.53 at GCSE (no progress data is available for 2025) and 44% of all grades being Grades 9 – 8, representing significantly above average rates of achievement from Year 7 to 11. At A-level results were similarly impressive with 36% of grades at A*-A, and 88% A*-C with an average Grade B for all students.
The Academy will sustain appropriate staffing levels to deliver a broad and balanced curriculum that meets the interests and aspirations of its students. The Academy will sustain strong performance in external examinations and will provide a physical environment that is safe and secure for all.
The external examination results in 2025 were exceptional:
96% achieved a Strong Pass in GCSE English and Maths
66% of all grade achieved were at grades 9-7
65% of Advanced level results were graded A*-B
36% of all Advanced level results were awarded A*-A
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 financial statements. Further details regarding the adoption of the going concern basis can be found in the statement of accounting policies. The budget for the 2025/26 financial year has been set and agreed by Governors and is expected to give rise to a slight deficit for the year.
The financial position of the school is detailed in the following pages.
Most of the school's income is obtained from the DfE in the form of recurrent and capital grants, the use of which is restricted to particular purposes. The grants received during the year and the associated expenditure are shown as restricted funds in the Statement of Financial Activities.
Recurrent grants of £7,165k (2024: £7,166k) were received in the form of GAG funding from the DfE. Expenditure covered by these grants amounted to £7,175k (2024: £7,199k). This grant and expenditure is shown in the restricted general fund in the Statement of Financial Activities. Unrestricted income and expenditure in the year amounted to £94k (2024: £89k) and £nil (2024: £nil) respectively.
At 31 August 2025 the net book value of fixed assets was £10,900k (2024: £10,866k) and movements in fixed assets are shown in Note 12 to the financial statements. The cost of fixed asset additions in the year amounted to £422k of which £285k was for works to the land and buildings, £117k computer equipment and £20k was for fixtures, fittings and equipment.
Financial and risk management objectives and policies
The objective of the Academy's Risk Management procedure is to identify the principal risks facing the academy so that existing controls may be considered and further action taken if required, including external insurance.
The Board of Trustees has a comprehensive risk management process to identify and monitor the risks faced by the Academy.
The financial risks considered include: economic/ financial uncertainty, liquidity and solvency, credit risk, the risk of fraud and compliance with financial/ statutory requirements.
Governors review the level of reserves annually. This review encompasses the nature of income and expenditure streams, the need to match income with commitments and the nature of reserves. The trustees will ensure that the reserves policy continues to conform to the requirements laid down in the Academies' Financial Handbook produced by the ESFA.
It is Governors' policy to build up unrestricted reserves which can be used for future education purposes in line with the academy's development plan.
The school's pension liability is £387k with sufficient assets to cover this figure.
The Board of Trustees reviews the Academy's Reserve Policy annually as part of the Financial Procedures manual review. In addition the appropriate level of working capital should be a minimum of £580,000 to cover one month’s staff costs.
Due to the nature of funding, the Academy may at times hold cash balances surplus to its short-term requirements. The Governors have authorised the opening of additional short term bank investment accounts to take advantage of higher interest rates.
Governors are committed to ensuring that all funds under their control are managed in such a way as to maximise return whilst minimising risk. Day to day management of the surplus funds is delegated to the Finance Director under approvals by the Governing Body.
Governors are responsible for the management of the risks to which the school is exposed and are assisted in this task by the Senior Leadership Team, the school's Health & Safety Officer, Health & Safety consultant and Human Resources advisors from Hill Dickinson LLP and the Local Authority. It has also sought professional advice and support from the Risk Protection Association and Zurich Insurance Group. Operational risks are identified and assessed at school level, and these are reviewed by Governors.
The key controls used by Governors include:
detailed terms of reference for all committees
formal agendas for all meetings and committee meetings of the Governing Body. Minutes of full Governing Body and committee meetings are reviewed by Governors
schemes of delegation and formal financial regulations for staff
formal written policies
formal review of targets and progress reports clear authorisation and approved levels
policies and procedures by law to protect the vulnerable.
Risk management procedures have been reviewed during the year and Governors are satisfied that the major risks identified have been reviewed and processes have been established to manage those risks where necessary.
The Estate is proactively managed in-line with Health and Safety Legislation and compliance, ensuring the estate provides a safe learning and working environment for all. The Trust follows the Department for Education guidance ‘Good Estate Management for Schools’ that contains a number of detailed documents and a self-assessment tool to ensure that the Estate is managed effectively. The Trust also uses external Estates advisors for the development of capital funding bids and to support more complex projects.
The Estate strategy also links with the Capital Expenditure programme and Risk Management / Risk Register, this provides the Trust with the strategic overview of when investment is needed and how its prioritised across the trust. The Trust ring-fences it’s Reserves in line with the priorities identified, so that future Estates developments can take place.
Pupil numbers and forecast numbers are consistent. Sixth Form numbers have been maintained in 2024-25 and are relatively consistent. Admission numbers are annually reviewed and actions are implemented to maintain and extend recruitment out of area.
The school's students undertake numerous fundraising events for various charities. The school charity for 2024/25 was Edukid.
The school's plan for future years is to continue to work towards the aims and objectives on pages 6 and 7.
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
As trustees we acknowledge we have overall responsibility for ensuring that West Kirby Grammar 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.
As trustees, we have reviewed and taken account of the guidance in the DfE's Governance Handbook and competency framework for governance.
The board of trustees has delegated the day-to-day responsibility to the headteacher, as accounting officer, for ensuring financial controls conform with the requirements of both propriety and good financial management and in accordance with the requirements and responsibilities assigned to it in the funding agreement between West Kirby Grammar 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.
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 four times during the year. The sub-committee structure ended after the Spring Term meetings and the work of the sub-committee subsumed by the Full Governing Body.
The board of trustees spread its workload by delegating certain functions to committees whose constitution and membership are agreed annually by the board of trustees. Committees are chaired by trustees and have a member of the senior leadership team attached. They meet before full board meetings, or as and when required, to prioritise and focus upon tasks in their areas of Curriculum, Health & Safety/Premises, Pay & Salaries, Staffing, Audit and Finance. Committee meetings have minutes taken to report to the trustees and identify key decisions which have been ratified by the full board of trustees. The sub-committee structure ended after the Spring Term meetings and the work of the sub-committee subsumed by the Full Governing Body.
Each meeting is preceded by a declaration of interest by each governor in attendance.
We maintain a register of business interests for governors, members and senior leaders which is updated annually and if a declaration is made during the year.
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 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 where available.
Results significantly above national average: In 2024-25 results were as follows:
A level:
- 36% of all results were awarded A*- A
- 65% of the grades awarded were graded A* - B
- 88% of all results were awarded A*- C
GCSE:
- 44% of all grades achieved were at grades 9-8 with 96% of students achieving a Strong Pass in English and Maths.
- 66% of all grades achieved were at grades 9-7 (previous A*- A)
Again, another impressive year with some outstanding achievements. A review of all results is undertaken with Department Development Plans and School Development Plans setting targets for the following year.
Targeted Improvement
Targeted groups of students are being supported to achieve their potential. These are pupil premium, SEN, CLA and EAL.
Financial Governance & Oversight
This includes:-
- Monitoring the work of the Finance Director and the work of the external auditor
- Regular reviews by the Finance Committee check expenditure, capital works, forecasts and so on.
- Delegation of authority for separate duties
- Risk management
- Better purchasing - a review of contracts, leases, etc to ensure value for money
- A clear and comprehensive tendering process
- Scrutiny- Mitchell Charlesworth (Audit) Limited have been appointed as external auditors
- Review of reserves in the light on budget constraints and the investment of balances
- Curriculum Review
The school reviews the curriculum annually to ensure breadth and balance. Individual learning pathways are supported to ensure students have the opportunity to follow their ambitions in the next phase of their lives.
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 West Kirby Grammar School for the period 1 September 2024 to 31 August 2025 and up to the date of approval of the annual report and financial statements.
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 2024 to 31 August 2025 and up to the date of approval of the annual report and financial statements. This process is regularly reviewed by the board of trustees.
The academy trust's system of internal control is based on a framework of regular management information and administrative procedures including the segregation of duties and a system of delegation and accountability. In particular, it includes:
comprehensive budgeting and monitoring systems with an annual budget and periodic financial reports which are reviewed and agreed by the board of trustees;
regular reviews by the finance committee of reports which indicate financial performance against the forecasts and of major purchase plans, capital works and expenditure programmes;
setting targets to measure financial and other performance;
clearly defined purchasing (asset purchase or capital investment) guidelines;
identification and management of risks.
The board of trustees has considered the need for a specific internal audit function and appointed Langtons LLP as the internal auditor. The internal audits consisted of a high-level compliance review of the key controls in place in relation to the School's finance function. The consistent application of key controls across the School's main financial processes provides on-going assurance over the financial management of the organisation. On an annual basis the internal auditor reports to the Governing Body on the operation of the systems of control and on the discharge of the Governing Body's financial responsibilities. In particular the key control areas tested in the current period included;
Policy and procedures
General ledger
Expenditure
Payroll
On an annual basis, the reviewer reports to the board of trustees on the operation of the systems of control and on the discharge of the board of trustees financial responsibilities.
As accounting officer the headteacher has responsibility for reviewing the effectiveness of the system of internal control. During the year in question the review has been informed by:
the work of Langton's LLP as internal auditor;
the work of the external auditor;
the financial management and governance self-assessment process;
The accounting officer has been advised of the implications of the result of their review of the system of internal control by the board of trustees and a plan to ensure continuous improvement of the system is in place.
Based on the advice of the internal auditors, external auditors 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
As accounting officer of West Kirby Grammar School, I confirm that I have had due regard to the framework of authorities governing regularity, propriety and compliance, including the trust’s funding agreement with the Department for Education (DfE), and the requirements of the Academy Trust Handbook, including responsibilities for estates safety and management. I have also considered my responsibility to notify the academy trust board of trustees and DfE of material irregularity, impropriety and non-compliance with terms and conditions of all funding, including for estates safety and management.
I confirm that I and the board of trustees are able to identify any material irregular or improper use of all funds by the academy trust, or material non-compliance with the framework of authorities.
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 DfE.
Approved by order of the members of the board of trustees on 27 November 2025 and signed on its behalf by:
Opinion
We have audited the financial statements of West Kirby Grammar School for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, 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), the Charities SORP 2019 and the Academies Accounts Direction 2024 to 2025 issued by the Department for Education.
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 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 2024 to 2025.
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 academy trust 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 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 financial statements and our auditor's 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 incorporated strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report including the incorporated strategic report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the academy trust and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report, including the incorporated strategic report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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 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
As explained more fully in the statement of trustees' responsibilities, the trustees 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. In preparing the financial statements, 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.
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.
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
the nature of the industry and sector, control environment and business performance;
the academy's own assessment of the risks that irregularities may occur either as a result of fraud or error;
the results of our enquiries of management and members of the board of governors of their own identification and assessment of the risks of irregularities;
any matters identified having obtained and reviewed the academy’s documentation of their policies and procedures relating to:
identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
(i) The presentation of the academy'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 and 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 2024 to 2025.
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.
As a result of performing the above, we identified the presentation of the academy's Statement of Financial Activities, revenue recognition and overstatement of wages and other costs as the key audit matters related to the potential risk of fraud. The key audit matters section of our report explains the matters in more detail and also describes the specific procedures we performed in response to those key audit matters.
In addition to the above, 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 members of the board 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;
reading minutes of meetings of those charged with governance and reviewing correspondence with relevant authorities where matters identified were significant;
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.
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 members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
In accordance with the terms of our engagement letter dated 9 October 2025 and further to the requirements of the Department for Education (DfE) as included in the extant Framework and Guide for External Auditors and Reporting Accountants of Academy Trusts, we have carried out an engagement to obtain limited assurance about whether anything has come to our attention that would suggest, in all material respects, the expenditure disbursed and income received by West Kirby Grammar School during the period 1 September 2024 to 31 August 2025 have not been applied to the purposes intended by Parliament and that the financial transactions do not conform to the authorities which govern them.
This report is made solely to West Kirby Grammar School and the Secretary of State for Education in accordance with the terms of our engagement letter. Our work has been undertaken so that we might state to West Kirby Grammar School and the Secretary of State for Education 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 West Kirby Grammar School and the Secretary of State for Education, for our work, for this report, or for the conclusion we have formed.
The accounting officer is responsible, under the requirements of West Kirby Grammar School’s funding agreement with the Secretary of State for Education and the Academy Trust Handbook, 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 extant Framework and Guide for External Auditors and Reporting Accountants of Academy Trusts. 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 2024 to 31 August 2025 have not been applied for the purposes intended by Parliament or that the financial transactions do not conform to the authorities which govern them.
We conducted our engagement in accordance with the Framework and Guide for External Auditors and Reporting Accountant of Academy Trusts issued by the DfE, which requires a limited assurance engagement as set out in our engagement letter.
The objective of a limited assurance engagement is to perform such procedures as to obtain information and explanations in order to provide us with sufficient appropriate evidence to express a negative conclusion on regularity.
A limited assurance engagement is more limited in scope than a reasonable assurance engagement and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in a reasonable assurance engagement. Accordingly, we do not express a positive opinion.
Our engagement includes examination, on a test basis, of evidence relevant to the regularity and propriety of the academy trust's income and expenditure.
The work undertaken to draw to our conclusion includes:
Reviewing the activities to ensure they are in keeping with the charitable objectives and framework.
Reviewing declarations of interest and seeking further representations.
Reviewing the control environment and considering potential weaknesses.
Reviewing minutes of various committees, management accounts and holding discussions with key personnel.
In the course of our work, nothing has come to our attention which suggests that in all material respects the expenditure disbursed and income received during the period 1 September 2024 to 31 August 2025 has not been applied for the purposes intended by Parliament or that the financial transactions do not conform to the authorities which govern them.
The financial statements on pages 24 to 46 were approved by the trustees and authorised for issue on
West Kirby Grammar School is a charitable company. The address of its principal place of business is given on page 1 and the nature of its operations are set out in the trustees' report.
A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.
The financial statements 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 financial statements 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 2024 to 2025 issued by ESFA, the Charities Act 2011 and the Companies Act 2006.
West Kirby Grammar School meets the definition of a public benefit entity under FRS 102.
The financial statements are presented in sterling which is also the functional currency of the academy trust.
Monetary amounts in these financial statements are rounded to the nearest whole £1,000, except where otherwise indicated.
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 financial statements, 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 financial statements.
At the balance sheet date the Academy had net assets of £12.3m after providing for long term pension scheme commitments of £nil in respect of the support staff defined benefit pension scheme and had net current assets of £1,472k.
The trustees have reviewed and approved budgets and cashflow forecasts for 2025/26 and future years and consider in the light of this review that it is appropriate to prepare the financial statements on a going concern basis.
All incoming resources are recognised when the academy trust has entitlement to the funds, the receipt is probable and the amount can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.
General Annual Grant is recognised in full in the statement of financial activities in the period for which it is receivable, and any abatement in respect of the period is deducted from income and recognised as a liability.
Capital grants are recognised in full when there is an unconditional entitlement to the grant. Unspent amounts of capital grants are reflected in the balance sheet in the restricted fixed asset fund. Capital grants are recognised when there is entitlement and are not deferred over the life of the asset on which they are expended.
Donations are recognised on a receivable basis (where there are no performance-related conditions) where the receipt is probable and the amount can be reliably measured.
Other income, including the hire of facilities, is recognised in the period it is receivable and to the extent the academy trust has provided the goods or services.
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.
These are costs incurred on the academy trust's educational operations, including support costs and costs relating to the governance of the academy trust apportioned to charitable activities.
Assets costing £2,500 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:
Assets in the course of construction are included at cost. Depreciation on these assets is not charged until they are brought into use and reclassified to freehold or leasehold land and buildings.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the academy trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods of services it must provide.
Rentals under operating leases are charged on a straight-line basis over the lease term.
The academy trust only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the academy trust and their measurement basis are as follows.
Financial assets and financial liabilities are recognised when the academy becomes a party to the contractual provisions of the instrument.
Financial liabilities are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.
All financial assets and liabilities are initially measured at transaction price (including transaction costs). unless the arrangement constitutes a financing transaction. A financial asset or financial liability that is payable or receivable in one year is measured at the undiscounted amount expected to be received or paid net of impairment, unless it is a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and financial liabilities are offset only when there is a current legally enforceable right to set off the recognised amounts and the intention to either settle on a net basis, or to realise the asset and settle the liability simultaneously.
The academy trust is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the academy trust is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Retirement benefits to employees of the academy trust are provided by the Teachers' Pension Scheme ('TPS') and the Local Government Pension Scheme ('LGPS'). These are defined benefit schemes and the assets are held separately from those of the academy trust.
The TPS is an unfunded scheme and contributions are calculated to spread the cost of pensions over employees' working lives with the academy trust in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary based on quadrennial valuations using a prospective unit credit method. The TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions are recognised in the period to which they relate.
The LGPS is a funded multi-employer scheme and the assets are held separately from those of the academy trust in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to net income or expenditure are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the statement of financial activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses.
Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the academy trust at the discretion of the trustees.
Restricted fixed asset funds are resources which are to be applied to specific capital purposes imposed by funders where the asset acquired or created is held for a specific purpose.
Where fixed assets are purchased out of unrestricted or general restricted funds then an amount equivalent to the additions are transferred to the restricted fixed asset fund in the year incurred and shown separately within the SOFA.
Restricted general funds comprise all other restricted funds received with restrictions imposed by the funder/donor and include grants from the Department for Education Group.
Agency arrangements
The academy trust acts as an agent in distributing 16-19 bursary funds from the DfE. Payments received from the DfE and subsequent disbursements to students are excluded from the statement of financial activities as the trust does not have control over the charitable application of the funds. The trust can use up to 5% of the allocation towards its own administration costs and this is recognised in the statement of financial activities. The funds received and paid and any balances held are disclosed in note 24.
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The academy trust makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
The present value of the Local Government Pension Scheme defined benefit 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 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 liability at 31 August 2025. 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 liability.
The trustees believe that critical areas of judgement do not have a significant risk of causing a material difference to the carrying amounts of assets and liabilities within the next financial year.
7 of the above participated in the Teachers’ Pension Scheme (2024: 5), and 1 employees in each year participated in the LGPS. During the year ended 31 August 2025, pension contributions for the above amounted to £177,352 (2024: £112,006).
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 employee benefits (including employer pension contributions) received by key management personnel for their services to the academy trust was £969,433 (2024: £768,702).
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:
S Clarke (Headteacher and trustee):
Remuneration - £120,001 - £125,000 (2024: £110,001 - £115,000)
Employer’s pension contributions paid - £30,001 - £35,000 (2024: £25,001 - £30,000)
J P Young (staff governor and trustee):
Remuneration - £45,001 - £50,000 (2024: £50,001 - £55,000 )
Employer’s pension contributions paid - £15,001 - £20,000 (2024: £10,001 - £15,000)
R Heibel (staff governor and trustee):
Remuneration - £40,001 - £45,000 (2024: £35,001 - £40,000)
Employer’s pension contributions paid - £5,001 - £10,000 (2024: £5,001 - £10,000)
D Lidgett (staff governor and trustee):
Remuneration - £40,001 - £45,000 (2024: £35,001 - £40,000)
Employer’s pension contributions paid - £5,001 - £10,000 (2024: £5,001 - £10,000)
M Woods (staff governor and trustee):
Remuneration - £45,001 - £50,000 (2024: £55,001 - £60,000)
Employer’s pension contributions paid - £15,001 - £20,000 (2024: £10,001 - £15,000)
A Attard (staff governor and trustee):
Remuneration - £5,001 - £10,000 (2024: £nil)
Employer’s pension contributions paid - £1 - £5,000 (2024: £nil)
D Favager (staff governor and trustee):
Remuneration - £0 - £5,000 (2024: £0 - £5,000)
Employer’s pension contributions paid £nil (2024: nil)
In accordance with normal commercial practice, the academy trust has purchased insurance to protect trustees and officers from claims arising from negligent acts, errors or omissions occurring whilst on academy trust business. The insurance provides cover up to £10,000,000 on any one claim. The cost of this insurance is included in the total insurance cost.
The land and buildings transferred on conversion were independently professionally valued as at 1 August 2011 by Mason Owen Chartered Surveyors and were included in the financial statements at this valuation on conversion to academy status.
Included within freehold land and buildings is land valued at £1,000,000.
At the balance sheet date the academy trust was holding funds received in advance for school trips £208k (2024: £117k), Prizes fund £2k (2024: £4k), STEMNET income £4k (2024: £4k), income for sixth form site improvements £30k (2024: £nil), deferred capital grant £83k (2024: £nil), ITT income £4k (2024 £nil) and school fund £8k (2024: £4k).
The specific purposes for which the funds are to be applied are as follows:
General Annual Grant must be used for the normal running costs of the Academy. Under the funding agreement with the Secretary of State, the free school was not subject to a limit on the amount of GAG that it could carry forward.
A total of £151k of restricted funds have been transferred to the restricted fixed asset fund, relating to assets purchased during the year from general GAG funding.
Other ESFA grants. These have been received for specific purposes throughout the year and include pupil premium, teachers' pension, teachers' pay and SEN grants which were fully spent in the year.
EFA Capital Grant for the building renovation and infrastructure. Depreciation of assets capitalised is to be matched against this income in line with accounting policy.
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 Wirral Borough Council. 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 £131,761 (TPS £110,992 LGPS £20,769) were payable to the schemes at 31 August 2025 (2024: £114,602 (TPS £93,272 LGPS £21,330) and are included within creditors.
The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers in academy trusts. All teachers have the option to opt out of the TPS following enrolment.
The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary. These contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions.
Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation outcome are:
Employer contribution rates set at 28.68% of pensionable pay (including a 0.08% administration levy). This is an increase of 5% in employer contributions and the cost control result is such that no change in member benefits is needed.
Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222,200 million, giving a notional past service deficit of £39,800 million.
The employer's pension costs paid to the TPS in the period amounted to £900,605 (2024: £795,230).
A copy of the latest valuation report can be found by following the link to the Teachers’ Pension Scheme website.
Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The academy trust has accounted for its contributions to the scheme as if it were a defined contribution scheme. The academy trust has set out above the information available on the scheme.
The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. The total contributions are as noted below. The employer contribution rate is 19.0% until 31 March 2026. The employee contribution rates start at 5.5% increasing to 12.5% depending on earnings.
As the scheme is in deficit the academy trust has entered into an agreement with the scheme trustees to make additional contributions of £45,100 per year in 2023/24 in addition to normal funding levels. These additional contributions are expected to continue for the foreseeable future.
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, the Department of Education reaffirmed its commitment to the guarantee, with a parliamentary minute published on GOV.UK.
Scheme liabilities would have been affected by changes in assumptions as follows:
The net gain recognised on scheme assets has been restricted because the full pension surplus is not expected to be recovered through refunds or reduced contributions in the future.
The following related party transaction took place in the period of account. All transactions involving such organisations are conducted at arm's length and in accordance with the trust's financial regulations and normal procurement procedures.
During the year the school rented St. Andrew's Parish Church for Christmas events in December 2024 paying an amount of £200, (2024: £420) the Father Brian Bell is the Vicar at the Church and is also a Trustee of the Trust.
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.
The Academy Trust administers the disbursement of the new discretionary support for learners, 16-19 Bursary Funds, on behalf of the DfE. In the year the Academy received £22,463 (2024: £26,424) and disbursed £21,968 (2024: £21,466) with an amount of £8,201 (2024: £7,706) included within other creditors as at 31 August 2025.