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 School trust operates a mixed all ability 11-18 school with a planned admission limit of 840 (post Sixth Form closure) and had 813 pupils on roll as at the autumn 2024 census. The school is nationally recognised for inclusion and has a proud history of successfully working with the community. Wallasey has extremely high levels of disadvantage with many students on free school meals and many families facing significant social disadvantage. In April 2025 OFSTED graded the school as Inadequate and the school has been placed into special measures. The long-term impact of coronavirus on academic results is still a factor, with disruptions to learning, school closures and social factors that have impeded attendance and behaviour in year groups post the pandemic. The 2025 examination grades are mixed with some positive outcomes with an increased spread of higher grades at 9 - 7, the steep grade 4 / 3 boundaries were an issue in some results were lower than previous practice performances. Progress in many subjects at KS4 were improved, and in some cases were significantly so, reflecting the interventions in place to counteract staff absence in some key areas. Post 16 the public examinations that the students sat showed an increase in the overall average grade to D+. Students gained qualifications that allowed them to make progression with now all except one of those who had applied to University securing their first choice place.
The academy trust is a company limited by guarantee and an exempt charity. The charitable company's memorandum and articles of association are the primary governing documents of the academy trust. The charitable company operates as The Oldershaw School.
Trustees
The trustees of The Oldershaw 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 school has purchased insurance to protect governors and officers from claims arising from negligent acts, errors or omissions occurring whilst on school business. The insurance provides £25m cover on any one claim and the cost for the year ended 31 August 2025 is included in the overall costs for the academies insurance which was £23,695.
In accordance with the Articles of Association, the members may appoint up to 12 trustees under article 50 plus an additional 2 staff under article 50a which may include staff and parent trustees. Further and additional trustees are within the remit of the Secretary of State as covered under article 46 subsections b, c, e and f.
All trustees are subject to election and the term is for a period of 4 years. At the end of that period should they wish to remain a trustee and subject to their remaining being appropriate i.e. staff or parent governor then this is subject to a further election. Further information is available under the trustee section of the Articles of Association that may be accessed from the school website.
The training and induction for new trustees depends on their existing experience. Training is provided in identified areas. All new trustees are given a tour of the school and the opportunity to meet with staff and pupils. Policies, procedures, minutes, accounts, budgets and other documents are available to enable trustees to undertake their role. Induction is informal and tailored specifically to the needs of individuals. The school also uses an independent SIP support programme. Trustees are signed up to and receive online training from National College and National Governance Association as well as in person from the Governance professional at our legal company Hill Dickinson.
The Board of Trustees and administrative details of the school are detailed on page 1.
Full Trust Board meetings are in line with the Academies Trust Handbook 2024 requirements to ensure the school is run in an efficient and professional manner. The board appoints committees to assist with specific governance of important areas including Curriculum, Finance, Personnel and Buildings. The financial risks faced by the school, principally in relation to its day to day running, is a high priority and the school has a detailed risk register which is reviewed through the board meeting cycle. Management of cash assets using cash flow forecasting and control of cash on a daily basis is carefully controlled. The principal sources of income are from public sector bodies for which there is a low level of credit risk. Safeguarding is a high priority, and all trustees and staff are subject to enhanced DBS (Disclosure & Barring Service) checks. Visiting staff who work regularly at the school are also subject to these checks and visitors are always supervised.
The school benefits from the work of a Responsible Officer, who has instructed Langtons to assist him in this role through internal audit monitoring visits, whilst Mitchell Charlesworth (Audit) Limited fulfil this role as external auditor. These processes ensure that operational, financial, risk and management processes are robustly and independently reviewed. The Risk Register is increasingly used as the foundation for the work of the Responsible Officer, in conjunction with the requirements of the Academies Handbook. The Responsible Officer has access to all departments and reports directly to the Finance, Audit and Risk Committee.
The Trust Board policy is based on The Governance Handbook, published by the Department for Education (DfE), which sets out the statutory responsibilities of governing bodies in maintained schools for principals' appraisal. The school has adopted this process. These responsibilities reflect The Education (School Teachers' Appraisal) (England) Regulations 2012.
The Governing Body has a Subgroup for the Executive Headteacher and Chief Finance and Operations Officer pay review. This is led by the Chair of the Trust Board and is supplemented by two members drawn from the remaining trustees and supported by the SIP. The current representatives are felt to have good personnel knowledge and good understanding of the Academy Trust Handbook and the role. This review is in line with the whole school pay policy. The review is of all staff salaries annually, implementing enhancements where appropriate.
The academy trust does not have any associations with other charities or organisations.
The aim of the Oldershaw School is to provide education and educational opportunities for pupils between the ages of 11 and 16. In accordance with the Articles of Association the charitable company has adopted a “Scheme of Government” approved by the Secretary of State for Education. The Scheme of Government specifies, amongst other things, the basis for admitting pupils to the school, and that the curriculum should be broad and balanced.
The School aims to promote a culture of success by raising aspirations, engaging all pupils, developing mutual respect, and equipping leavers for the future. This includes aiming for:
High quality education for every child through Pride, Kindness, and Resilience.
Raising the standard of educational achievement and attainment for all pupils. In 2023-2024 The Trustees introduced a new leadership team and a new staffing structure aimed at rapidly closing the gap in outcomes between the school’s students and their peers nationally.
In line with schools nationally, a drive to improve attendance is a major focus for the school, with progress already evident when compared with the previous year.
Improving effectiveness through constant self-evaluation and reflection - Trustees have undertaken a re-evaluation of the governing body into a new Trustee and Members Structure and continue to recruit new trustees to increase the capacity of the Trust Board to both support and provide effective challenge to the school.
Providing value for money 2024-2025 saw a balanced budget set and sound financial management of additional reserve spending to invest in strategic staff changes to teaching and learning structures and leadership to lay the foundation for future improved school performance. The results of this are maintained and demonstrated in the annual accounts.
A robust asset management process resulted in further refurbishment across the site, with both essential D1 works completed and the replacement of boiler infrastructure across the school site funded from reserves. The school continues to plan works in line with its five-year asset management condition programme which was also recently updated in September 2024.
Total capital spend on estates since 2020 is £3 million with 5 CIF bids being successful during this period. Of this £3m the school funded from reserves £1.8m to massively upgrade the quality of buildings and teaching and learning infrastructure.
Complying with all appropriate statutory and curriculum requirements.
Conduct business with the highest standards of integrity, probity, and openness.
Trustees are minded of the guidance issued by the Charity Commission and that their actions are always to be for the public benefit.
Core Values
Pride Kindness Resilience
Our Vision
Excellence together
Our Mission
Nurturing Happiness and Aacademic success.
High quality teaching and learning which creates confident and successful young people.
Creativity, international experience, challenge and vocation in the classroom.
Care, support, inclusion and community spirit.
The trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. Activities in 2024-25 demonstrate in all accepted definitions that the Oldershaw School provides services that are of public benefit through the provision of education and making available the facilities and resources of the school for the community and other charitable purposes. We continue to hold the delivery of public benefit as both central and fundamental to our activities.
The results are in the context of a changed leadership team that has reset expectations, that has in turn led to a larger than usual turnover in staffing and a restructure of the school’s appraisal and line management systems. Outcomes demonstrate that children who start in year 7 and maintain attendance 95+% make progress in line with national expectations. The percentage SEN with statements which have an EHC plan is the highest locally at 12%%, three times national and SEN Supported overall is 36%, almost three times the national average. The socio-economic profile of the School shows 65% of pupils are disadvantaged and the IDACI register shows the cohort is in the 5% of most deprived areas nationally. Attendance has been a national issue since the enforced pandemic isolations. Attendance is currently at 88%, which although below national, is in line with statistical neighbours with cohorts that mirror that of Oldershaw. The dual focus on improving outcomes and attendance remains the school’s primary objectives.
Ofsted – In April 2025, Ofsted inspected the school and following an unannounced inspection, the school was judged to require a designation of Inadequate overall, the school was then placed in Special Measures, with the high expectation that it will become part of a larger multi academy trust over the coming months. Since then, the school has focussed on rapidly improving all areas for development highlighted in the report.
The Student attainment in most key areas remained low when compared to national, but progress was significantly improved and the number of 7-9 grades increased. The focus on appointing high-quality teachers, and improving attendance are already showing progress in earlier years, and projections for coming years show that outcomes will be in line with national. Data is now more accurate and robust, and staff are now more data literate. Over 50 % of those who completed sixth form courses, went on to university, a number that continues to improve, while those who wished to access an apprenticeship or go into further training were able to do so. At Oldershaw, there has been a major overhaul of courses and curriculum, so that there is now a better match between what is taught, the needs of the students, and their environment.
Attendance: Whilst attendance is below the National Average, it is improved on the previous year and continues to improve. When compared with statistical neighbours the school now compares favourably, but will not be satisfied until it is above national.
For the 2024 - 2025 financial year the school set a balanced budget that included capital expenditure for both infrastructure and building projects. The fiscal management has enabled the school to maintain the balance sheet to £863,280 (excluding fixed assets and the pension scheme), this represent an increase of £133,949 on the previous financial year. During this period the amount of free cash generated amounted to £272,772 and we ended the year with a total amount of cash in the bank totalling £1,212,208
There is an expected variation in funding over the next three years due to National Funding Formula and year group cohort size along with closure of the Sixth Form. The school has mitigated against these risks and planned accordingly. |
Following an Ofsted Inspection in April 2025, it was determined that the school should be transferred to a Multi Academy Trust. Whilst the details of the transfer have yet to be agreed, the trustees have concluded that this is likely to be within twelve months of the date of the approval of these financial statements and on that basis these financial statements have been prepared on a basis other than as a going concern.
Most of the school’s income is obtained from the DfE funded school budget share in the form of recurrent and capital grants, the use of which is restricted for specific educational purposes. The school also receives Local Authority and other public grants in the year which were supplemented by other support grants from the DfE. The school has reported a surplus for the year of £516,091. After accounting for the actuarial gain on the local government pension scheme the net movement in funds for the year is £1,158,091. A programme of restructuring has seen the school bring its teaching costs in line with National Guidelines whilst at the same time ensuring a quality educational experience for our students together with exceptional pastoral care. In the 2024 - 2025 academic year the school continued to work on a review of operational staff roles together with a continuing review of leadership and teaching structures and TLR’s for teaching staff. School staffing levels are in line with current bench marking and monitored closely.
The trustees review reserve levels regularly and formally on an annual basis. This review considers the nature of income and expenditure streams, the need to match income with commitments and the nature of reserves. The funding receivable for the development of the school and all associated capital works are intended to fully cover the costs, and therefore the level of reserves excluding the pension liability is currently under review. The Trustees will determine an adequate and appropriate level for reserves, which are not invested in tangible assets, will be reviewed as part of the process.
Reserves were previously too high, but the school has now invested in infrastructure projects that protect the organisation for the future as well as improve the learning environment for students.
All done with an eye on the future and in the context of horizon scanning for demographic or other funding issues that could arise.
The school aims to manage its cash balances to provide for the day-to-day working capital requirements of its operations, whilst protecting the real long-term value of any surplus cash balances against inflation. In addition, the school aims to invest surplus cash funds to optimise returns, but ensuring the investments are such that there is no risk to the loss of these cash funds.
The trustees confirm that they have undertaken the first part of the above paragraph throughout the trading year. No investments were made in the 2024–25 academic year.
Financial and risk management objectives and policies
The school’s system of internal financial 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 including:
Comprehensive budgeting and monitoring systems with periodic financial reports reviewed and agreed with the Trust Board.
Regular reviews by the Finance, Audit and Risk Committee and Trust Board which adjusts expenditure against forecasts of income.
Setting targets to measure financial and other performance.
Clearly defined purchasing guidelines.
Delegation of authority and segregation of duties.
Identification and management of risks.
Under the provisions of the Charities (Protection and Social Investment) Act 2016 this section must include information on fundraising practices. The areas to cover are included in section 13 of the Act and include:
approach to fundraising
work with, and oversight of, any commercial participators/professional fundraisers
fundraising conforming to recognised standards
monitoring of fundraising carried out on its behalf
fundraising complaints
protection of the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches, and undue pressure to donate.
Trustees may also find it helpful to refer to the Charity Commission publication “Charity fundraising; a guide to trustee duties (CC20)” which has been updated to reflect new requirements.
The Trust Board and Finance, Audit and Risk Committee is focused on the development and improvement of teaching and learning resources along with the continuation of building refurbishment projects to improve the school learning environment.
Demographic modelling suggests that numbers in primary schools have plateaued, though the percentage of those coming through with SEND or EHCP likely to rise. This is already being built in to our forward planning and staffing models. These issues have been explored at board level and risks adjusted where required. The Finance, Audit and Risk Sub- Committee is reviewing the fabric of the building to create a template of works to maintain and improve the building and other property to the benefit of students and staff to ensure they have a safe and enriching environment in which to work and have commissioned an updated 5 year condition building survey. The school’s sixth form has now closed, and the school now operates as an 11-16 school.
The school’s trustees will work with Regional Schools to seek the smoothest transition into a suitable multi academy trust.
Having taken the strategic decision to close the school’s sixth form, the Senior Leadership Team have worked hard on making the school an attractive option for year 7 students and for transfers in meeting local needs. Despite some negative publicity following the Ofsted regrading, Oldershaw was oversubscribed in Year 7 and has only limited places in other years. The executive team are planning for future years and seeking ways in which to expand the 11-16 offer. The school leadership is aware of the need to market its improving offer effectively in a changing environment.
We continue to explore how better to use the resources that are available in the school to create an additional income to further benefit our students but also to provide excellent facilities at reasonable rates to our neighbours in the surrounding community.
Key aims and objectives of the improvement plan 2025-26
Continue to improve progress by:
Laser focus on leadership at all levels
Embedding redesigned curriculum structure plans to better meet the needs of learners
More granular monitoring of Years 7 - 11 whilst setting ambitious targets.
Closing the gap by focusing upon disadvantaged pupils.
Ensuring all learners meet or exceed national expectations.
Ensuring the school does all it can to ensure that learners attend school and access learning
Embed the Maths Mastery Project
Embed the English Mastery Project
Embed Science Mastery Project
Focus on reading and subject disciplinary literacy so that all learners are able to fully access the curriculum.
Share good practice with the continuous Professional Development programme.
Develop further external support links to improve attendance, progress, and impact on attainment.
Improve teaching and learning by:
Specific and targeted CPD (Continuing Professional Development) to improve teaching.
Continue to improve the quality of feedback and feedforward.
Robust monitoring of progress and scrutiny of work from Year 7-11
Staff continued professional development to improve outcomes
More targeted intervention of students, sue to teachers better knowing their students needs.
Improve leadership by:
Ensure all trustees are well equipped to hold the school to account, ensuring that they know the school well.
Training and support of all leaders, and a clear chain of accountability, and challenge.
Constantly review new leadership structure to see where marginal gains can be realised. Continue to seek external help at departmental and whole school level.
Staff to continue to engage with external training programmes, and to be open to external moderation of all we do.
Work with School Improvement Partner to rigorously monitor and evaluate standards.
Appropriate succession planning in place for key staff and the trust.
Improve behaviour by:
Further embedding of Behaviour Policy that was implemented following the Autumn 2023 consultation and review.
Ensuring a consistent approach, and implementation of policy from all school adults
Building upon engagement and resilience of pupils; and Progress Leaders & Assistant Progress Leaders focus on the progress of all pupils in their cohort.
Ensuring that more students are experiencing well planned and engaging lessons and that all students have their learning needs met by the school
Working with students earlier, to build relationships with both them and their families
The setting of high and consistently applied expectations
Putting in place champions for Boys and Girls
Culture shifting with Behaviour for Learning so that students better realise the value of school.
Improve the tracking of students’ SMSC and PSHE:
Ensure all students are eager to learn and have positive attitudes in lessons.
Social Moral Spiritual and Cultural targeted days using outside agencies and alternative locations to develop SMSC values.
Continue themed assemblies & structured Personal Social and Health Education to support learning.
Ensure that all students receive the careers education programme that enables them to select the best route for them.
Governance
The Trust Board has continued to add new trustees and to remove any who do not attend the appropriate number of meetings, ensuring new trustees have the right skill set to add value.
Given the recent Ofsted outcome in April 2025 the Board will now focus on working with Regional Schools to ensure the smooth transition of the SAT into a MAT ensuring that the MAT chosen is mutually beneficial to both Oldershaw and community partners.
The school and its trustees do not act as custodian trustees of any other charity.
Equal opportunities policy
The Trustees recognise that equal opportunities should be an integral part of good practice in the workplace. The school aims to establish equal opportunity in all areas including creating a working environment in which the contribution and needs of all people are fully valued.
Disabled persons
Lifts, ramps and disabled toilets are installed and door widths are adequate to enable wheelchair access to all the main areas of the school. Appropriate car parking provision and access is available. The policy of the school is to support recruitment and retention of students and employees with disabilities. The school does this by adapting the physical environment, by making support resources available and through training and career development.
Serious incidents
The Trustees are conversant with the requirements to report serious incidents to the Charity Commission and will use the appropriate channels to report such incidents as they occur. In relation to this, the school has developed and implemented robust Health and Safety, Financial, and Disaster and Contingency Planning strategies to assist the school in minimising the risk of serious incidents.
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 The Oldershaw 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 DfE's Governance Handbook and competency framework for governance.
The board of trustees has delegated the day-to-day responsibility to the Executive Headteacher, as Accounting Officer (S Fisher), for ensuring financial controls conform with the requirements of both propriety and good financial management and in accordance with the requirements and responsibilities assigned to it in the funding agreement between The Oldershaw School and the Secretary of State for Education. He is also responsible for reporting to the board of trustees any material weaknesses or breakdowns in internal control.
Trustees are now appointed on a 4-year term. A Parent Trustee will cease to hold office if their child is no longer registered as a pupil at the school unless co-opted as a Trustee. Since the March 2021 Trust reconstitution there are no staff Trustees.
The board of trustees has formally met four times during the year with a number of these meetings focused on the strategic development of the school and major capital works programme. Given the structure of our sub-committees, the governing body believe four meetings are normally sufficient to discharge their duties. There are two main sub committees to the Board: Finance, Audit and Risk and Curriculum and Standards. In addition, there is a subgroup of the main board which reviews all staff salaries annually, implementing enhancements where appropriate for the school. Attendance during the year at meetings of the board of trustees was as follows:
Trustees have also completed training modules to maintain and improve their operational capabilities particularly in areas such as safeguarding and held with a strategic training day completed in 2025. Several additional skilled trustees were recruited in the academic year with a number of our longer serving trustees and members leaving us. The AGM was held in July 2025 and was attended by members during which the annual accounts were presented and an overview of school progress to members.
During 2024/25 academic year the trustees with the executive leadership team led a major reorganisation and of leadership and teaching staffing structure recruiting a number of high quality proven academic leaders. New Senior Leaders were in attendance and presented to Trustees at the Trust Board Sub Committees.
Finance, Audit and Risk Committee
Finance, Audit and Risk Committee is a subcommittee of the main Board of Governors. Its purpose is to review budgeting and the financial health of the school and routine monitoring of targets. In addition, this committee monitors audit and risk along with overseeing asset management. The committee is supported by Mr A Bush, Chief Finance and Operations Officer. Five meetings were held in 2024/25.
Terms of reference:
To receive and review the proposed budget for the financial year.
To receive and review the allocation of resources.
To be responsible for review of the whole school pay policy and key financial policies
To review all aspects of risk and asset management
To meet with the accountants and monitor the annual budget and accounts.
Recommend the appointment of Auditors to the Governing Body
Attendance at meetings in the year was as follows:
Curriculum and Standards Committee
The curriculum and standards committee is a sub-committee of the main board of trustees.
Terms of Reference
To set priorities of the committee for action in the year, based on the Board's Strategic Plan, monitor and review
To have oversight and hold to account the curriculum offer and school improvement plans
To review policies in accordance with its delegated powers.
To ensure the requirements of children with special needs are met.
To monitor and evaluate the impact of quality of teaching on rates of pupil progress and standards of achievement
To monitor and evaluate rates of progress and standards of achievement by pupils, including any underachieving groups.
As accounting officer, the Executive Headteacher has responsibility for ensuring that the school 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 school 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. The accounting officer for the school trust has delivered improved value for money during the year by:
Improving educational outcomes
Ensuring that all staff are well equipped and resourced to provide teaching and learning that meets student needs. That funds are focussed on ensuring those with special needs and those who are designated as deprived are well catered for and are able to close the attainment gaps that exist between them and their peers. Well qualified and experienced leaders are deployed to provide the most rapid improvements to student outcomes. High emphasis on recruitment and training of staff means that the school is fully staffed for the first time in some years.
Targeted improvement
Some improvements made in some areas, but significant changes to staff, systems and curriculum will provide much more noticeable improvements moving forward. The consistent use of the appraisal policy has meant more staff being held to account and in many cases being replaced with those who are more capable. The school now has much more faith in the quality of its teachers and rigour of its systems at all levels
Resources were targeted classroom environment, improved monitoring systems and the appointment of key staff with specialist skills, as well as training for those who have received too little previously. Curriculum changes have radically changed the way that learning is organised. The staffing structure has been reviewed at every level, and changes made to the structure at all levels of the school. Systems are now better embedded, and staff have a greater understanding of how to best cater for their students.
Focus on individual pupils
The school’s move towards a HLTA structure, the appointment of a School Ready Tutor and other moves are directed at supporting: Pupil Premium, SEN and LAC. Funding is monitored by a senior member of staff to ensure impact on the progress of pupils. The Learning Centre, 1:1 Tutors, subject intervention work, trips and visits, the enhanced curriculum and inclusion strategies all contribute to ensuring individual pupils achieve their best, improve social cohesion and provide stretch targets.
Collaboration
Conscious of its position as a standalone trust, The Oldershaw School takes part in arrangements with other schools and external providers which support improved value for money and the sharing of good practice. This reinforces the verification and validation of curriculum and assessment. Moderation with other schools, to ensure that assessments and projections are correct is essential in providing ongoing training for all staff. Work with the Bright Futures learning schools to develop leaders and ECTs is ongoing. Closer links with universities and FE providers is already happening and will develop further.
New initiatives
The school has entered into a number of new initiatives aimed at rapidly improving student attendance and outcomes. The school’s improvement plan has been revisited to ensure that its expectations and aspirations are sufficiently ambitious. The school embraces good practice, high ambition and a relentless drive to improve student learning, experiences and outcomes.
Introduction of the ‘Reintegration Zone’, and increased use of the ‘Learning Centre’, for those who are reluctant learners, or who have fallen behind their peers is now in place. CPD that better matches teachers developmental needs is in place as are learning groups who focus on the latest research and how it can be applicable for our setting and students.
Quantify improvements
The school reviews and monitors data constantly to ensure progress is validated. All pupils are set challenging targets and intervention is targeted via the data analysis. FFT, SISRA, GL Assessment and NEA are used to ensure progress is challenging. Sustained improvements are required for outcomes across the curriculum which are improving and are focussed on the national ambition for standards
Financial governance
The school produces monthly P&L accounts with balance sheet which allows the executive leaders and trustees to regularly monitor the financial position of the School. The accounts are balanced with the bank statements and are presented monthly to the Accounting Officer and Chair of Trust Board. The Finance, Audit and Risk Committee of trustees meet regularly to check and monitor the accounts, update policies, and agree spending proposals either as a separate committee or as part of full Trust Board meetings. They and the Chief Finance and Operations Officer focus on better purchasing and work tirelessly to achieve value for money including:
Negotiating and reviewing/benchmarking service level agreements and contracts regularly in line with the end of contract date. In the review process the quality of the service as well as the price is considered, three supplier quotes are collated and a clear process for selecting the best value is always followed by executive leadership and trustees.
Additional savings have been made by entering into Joint Service Level Agreements with Wirral Schools including payroll, health, and safety, CPD and community patrol. Because these contracts are for up to 100 schools, they provide very good value for money. These are all reviewed annually, and best value is always top of the agenda. All these SLAs (Service Level Agreement) are essential to the provision of service and provide value for money and savings in comparison to other providers. They provide economies of scale because they are negotiated on a collective basis.
Benchmarking
The school buys into a national service for benchmarking and uses DfE and Education provider’s websites to benchmark.
Options appraisal
All purchases are made in line with agreed financial procedures as per the Academies Financial Handbook, which include analysis of cost, efficiency, and effectiveness. All decisions consider: purchase price v lease and the most effective contract is agreed. Significant savings were made with regards contracts through option appraisal.
Economies of scale
The school draws on the positive relationship it has with Wirral and Merseyside schools regularly to share experiences, suppliers, and contractors. Collaborative bids are investigated with other schools and the Local Authority if the opportunity arises.
Better income generation
The school regularly explores new sources of funding and income generation and bids annually to the CIF funding programme to support buildings refurbishment and to any available grant funding programmes that support teaching and learning. The hire of School facilities is of significant benefit to the local community and generates income for the school.
Reviewing controls and managing risks
The Full Trust Board and Finance, Audit and Risk Committee meetings review controls, manage risks, have internal controls, and maximise the assets. Regular reports on the budget monitor balances and utilise income to generate additional funds. Having more than one account signatory minimises the risk and allows flexibility. Accountants are appointed to support the work of the responsible officer and check monthly accounts and report any discrepancies.
The school manages cash and bank balances in a way agreed with the auditors. The school insurance fully covers the risks associated with an educational establishment. The school works closely with an asset management partner and has produced a five-year condition buildings plan (October 2024), along with compliance management systems. The Site Manager ensures all compliance and health, and safety issues are correctly addressed. Safeguarding is an explicit and well-established feature of the school and fully addresses all statutory regulations.
Reflection
The school constantly reviews and appraises its procedures considering experience and a number of policies and procedures have been improved this year with regards to our insurance, health and safety and financial regulations. We continue to adjust the school curriculum to support progress and improve outcomes.
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 school policies, aims and objectives, to evaluate the likelihood of those risks being realised and the impact should they be realised, and to manage them efficiently, effectively and economically. The system of internal control has been in place in The Oldershaw 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 financial 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, audit and risk 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 and asset management systems;
delegation of authority and segregation of duties;
identification and management of risks with regular risk management updates.
The Board of Trustees have considered the need for a specific internal audit function and has appointed an internal auditor (Langtons). The reviewer’s role includes giving advice on financial matters and performing a range of checks on the school’s financial systems. In particular the checks carried out in the current period included testing income, purchases and payroll systems.
On a termly basis the auditor reports to the Chief Finance and Operations Officer and Accounting Officer through the Finance, Audit and Risk Committee on the operation of the systems of control and on the discharge of the Board of Trustees’ financial responsibilities. The auditor delivered their schedule of work as planned in the period 1 September 2024 to 31 August 2025.
As Accounting Officer the Executive Headteacher has responsibility for reviewing the effectiveness of the system of internal control. During the year in question the review has been focused on the following:
the work of the responsible officer;
the work of the external auditor;
the financial management and governance self-assessment process; and
the work of the executive managers within the school trust who have responsibility for the development and maintenance of the internal control framework.
The accounting officer has been advised of the implications of the result of their review of the system of internal control by the Finance, Audit and Risk Committee and a plan to address weaknesses and ensure continuous improvement of the system is in place.
Approved by order of the board of trustees on
As Accounting Officer of The Oldershaw School, I have considered my responsibility to notify the academy trust board of trustees and the Department for Education (DfE) of material irregularity, impropriety and non-compliance with terms and conditions of all funding, including for estates safety and management, under the funding agreement in place between the academy trust and the Secretary of State for Education. As part of my consideration I have had due regard to the requirements of the Academy Trust Handbook 2024, including responsibilities 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 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 08 December 2025 and signed on its behalf by:
Opinion
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.
Emphasis of matter - financial statements prepared on a basis other than as a going concern
We draw attention to 1.2 to the financial statements which explains that it is intended that the school is to be transferred into another multi academy trust. Following the transfer, which is likely to be within the next twelve months, this Trust would cease to have any purpose and is therefore no longer considered to be a going concern. Our opinion is not modified in respect of this matter.
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:
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.
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 school'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 we identified having obtained and reviewed the school’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 school's Statement of Financial Activities, (ii) revenue recognition (iii) the overstatement of salary and other costs (iv) the assumptions used in the calculation of the valuation of the surplus or deficit on the defined benefit pension scheme and the movements for the year. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, the Statement of Recommended Practice - 'Accounting and Reporting by Charities' issued by the joint SORP making body, along with the Academies Financial Handbook and Accounts Direction 2024-25 issued by the Department for Education.
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 we carried out testing of the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates were indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
In accordance with the terms of our engagement letter dated 31 August 2024 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 The Oldershaw 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 The Oldershaw 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 The Oldershaw 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 The Oldershaw 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 The Oldershaw 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 26 to 47 were approved by the trustees and authorised for issue on
The Oldershaw School is a charitable company limited by guarantee incorporated in England. 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 the Department for Education, the Charities Act 2011 and the Companies Act 2006.
Following an Ofsted Inspection in April 2025, it was determined that the school should be transferred to a Multi Academy Trust. Whilst the details of the transfer have yet to be agreed, the trustees have concluded that this is likely to be within twelve months of the date of the approval of these financial statements and on that basis these financial statements have been prepared on a basis other than as a going concern.
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.
The value of donated goods, facilities and services provided to the academy trust are recognised at their fair value in the period in which they are receivable as incoming resources, where the benefit to the academy trust can be reliably measured. An equivalent amount is included as expenditure under the relevant heading in the Statement of Financial Activities, except where the gift in kind is a fixed asset in which case the amount is included in the appropriate fixed asset category and depreciated over the useful economic life in accordance with the academy trust’s policies.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All resources expended are inclusive of irrecoverable VAT.
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 £1,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.
Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the balance sheet at cost and depreciated over their expected useful economic life. Where there are specific conditions attached to the funding that require the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the statement of financial activities and carried forward in the balance sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the statement of financial activities. Where tangible fixed assets have been acquired with unrestricted funds, depreciation on such assets is charged to the unrestricted fund.
Depreciation is provided on all tangible fixed assets other than freehold land, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the academy trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods of services it must provide.
Rentals under operating leases are charged on a straight-line basis over the lease term.
The academy trust only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the academy trust and their measurement basis are as follows.
Trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
Cash at bank is classified as a basic financial instrument and is measured at face value.
Trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
The academy trust is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the academy trust is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Retirement benefits to employees of the academy trust are provided by the Teachers' Pension Scheme ('TPS') and the Local Government Pension Scheme ('LGPS'). These are defined benefit schemes and the assets are held separately from those of the academy trust.
The TPS is an unfunded scheme and contributions are calculated to spread the cost of pensions over employees' working lives with the academy trust in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary based on quadrennial valuations using a prospective unit credit method. The TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions are recognised in the period to which they relate.
The LGPS is a funded multi-employer scheme and the assets are held separately from those of the academy trust in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to net income or expenditure are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the statement of financial activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses.
Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the academy trust at the discretion of the trustees.
Restricted fixed asset funds are resources which are to be applied to specific capital purposes imposed by funders where the asset acquired or created is held for a specific purpose.
Restricted general funds comprise all other restricted funds received with restrictions imposed by the funder/donor and include grants from the Department for Education Group.
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 17, 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.
FRS 102 section 28.22 allows an entity to recognise a surplus within the Local Government Pension Scheme “only to the extent it is able to recover the surplus either through reduced contributions in the future or through refunds from the plan”. The actuarial report as at 31 August 2025 indicates a defined benefit asset position, which has been capped at nil value. This is on the basis that it is uncertain that a surplus following any triennial review would result in reduced contributions for the employer, and is unlikely to result in a repayment.
Ten of the above participated in the Teachers’ Pension Scheme and one in the Local Government Pension Scheme. During the year ended 31 August 2025, pension contributions for the above amounted to £211,619 (2024 £197,044).
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 and employer national insurance contributions) received by key management personnel for their services to the academy trust was £294,909 (2024: £272,609).
One or more of the trustees has been paid remuneration or has received other benefits from an employment with the academy trust. The principal and other staff trustees only receive remuneration in respect of services they provide undertaking the roles of principal 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 Fisher (Executive Headteacher and trustee):
Remuneration - £120,000 - £125,000 (2024: £110,000 - £115,000).
Employers' pension contributions paid - £30,000 - £35,000 (2024: £25,000 - £30,000)
During the year ended 31 August 2025 travel and subsistence expenses totalling £Nil were reimbursed or paid directly to the trustees (2024 £Nil).
Other related party transactions are set out in note 21.
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 £25M cover on any one claim and the cost for the year ended 31 August 2025 is included in the overall cost of the academies insurance and is not made separately available to the Academy.
In respect of land and buildings transferred upon conversion to the academy from the LEA, a valuation was provided at 31 August 2013 of £5,196,499 (Land £669,858 and buildings £4,526,641).
At the balance sheet date the academy trust was holding funds received in advance in relation to sports hires, 16-19 clawback and miscellaneous sums received for other school activities.
General Annual Grant must be used for the normal running costs of the academy.
Other DfE Group Grants - these have been received for specific purposes throughout the year and include looked after children (LAC) income, all of which was fully spent in the year.
Local Authority Grants consist of various support grants received from Wirral Borough Council. All of this income has been spent.
Other Grants have been received from a number of educational and similar supporting bodies.
The Pension Reserve represents the pension fund determined in accordance with FRS102 as detailed in note 17.
The trustees have agreed to set aside as a designated fund, £10,000 for the maintenance of the Astro surface, £3,000 from a comedy night and £4,075 for other purposes.
The academy trust's employees belong to two principal pension schemes: the Teachers' Pension Scheme England and Wales (TPS) for academic and related staff; and the Local Government Pension Scheme (LGPS) for non-teaching staff, which is managed by the Mersey Pension Fund. Both are multi-employer defined benefit schemes.
The latest actuarial valuation of the TPS related to the period ended 31 March 2020, and that of the LGPS related to the period ended 31 March 2022.
Contributions amounting to £125,091 were payable to the schemes at 31 August 2025 (2024: £119,173) 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 result of this valuation was implemented from 1 April 2024.The next valuation result is due to be implemented from 1 April 2027.
The employer's pension costs paid to the TPS in the period amounted to £767,294 (2024: £681,057).
A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.
Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The academy trust is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the academy trust has taken advantage of the exemption in FRS 102 and has 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 was 17.7% as at 1 September 2024. 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 a one off additional contribution of £237,550 to cover a three year period, in addition to normal funding levels.
Parliament has agreed, at the request of the Secretary of State for Education, to a guarantee that, in the event of academy closure, outstanding Local Government Pension Scheme liabilities would be met by the Department for Education. The guarantee came into force on 18 July 2013 and on 21 July 2022, the Department for Education reaffirmed its commitment to the guarantee, with a parliamentary minute published on GOV.UK.
Scheme liabilities would have been affected by changes in assumptions as follows:
The net gain recognised on scheme assets has been restricted because the full pension surplus is not expected to be recovered through refunds or reduced contributions in the future.
Owing to the nature of the academy trust’s operations and the composition of the Board of Governors being drawn from local public and private sector organisations, transactions may take place with organisations in which the trust has an interest. All transactions involving such organisations are conducted at arm’s length and in accordance with the requirements of the AFH and with the academy trust's financial regulations and normal procurement procedures relating to connected and related party transactions.
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.