The trustees present their annual report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
The aims of our charity are to advance the education of the pupils at Buckswood School by providing and assisting in the provision for education and training at the school in the areas of East Sussex. Our aims fully reflect the purposes that the charity was set up to further.
Our stated purpose is:
• Support and enhance educational opportunities for students at Buckswood School.
• Provide or help fund educational facilities, resources, and services that benefit the school's pupils.
• Operate as a charitable company limited by guarantee in support of the school's educational mission
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity's principal activity is to provide support services in furtherance of its charitable objectives. During the year, the charity did not undertake any trading or operational activities.
The charity was dormant throughout the financial year and had no significant accounting transactions other than bank charges. Accordingly, there was no income, surplus or deficit arising from activities during the year.
The trustees continue to monitor the charity's status and consider its future use.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The main method of providing facilities to Buckswood School has altered significantly in the last 2 years, leading to the decision that the purposes of the charity have been fulfilled. As such, now is the right time to close the charity, and steps are being taken to allow this closure to take place. Originally, Buckswood School Ltd was supporting the charity in all its operations, with funding coming from this entity. Therefore any remaining bank balances as of the year end of closure will be transferred to this entity.
The charity is a company limited by guarantee and was set up by a Memorandum of Association on 23 May 2007, with a company number of 06256955 and a Charity number of 1122607.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Selection of trustees is governed by the Articles of Association. Every trustee must be a natural person, and there must be a minimum of 2 trustees without limit.
In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity. Prospective trustees are selected and appointed by the chair and other trustees, recognizing the key skills being brought to the charity.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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The report was approved by the Board of Trustees.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Buckswood School Services Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Broomham Hall, Rye Road, Guestling, East Sussex, TN35 4LT.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Subsequent to the year end, and prior to the approval of these financial statements, the trustees formally resolved to cease the charity's activities and commence an orderly wind-up of the charity. See further disclosure note on this in Note 9.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Subsequent to the year end, and prior to the approval of these financial statements, the trustees formally resolved to cease the charity's activities and commence an orderly wind-up of the charity.
Historically, Buckswood School Ltd has provided operational and administrative support to the charity. Following settlement of all outstanding liabilities and obligations, the trustees intend that the remaining funds of the charity will be transferred to Buckswood School.
As this decision was made after the reporting date, no adjustments have been made to the amounts recognised in these financial statements.
During the year, the charity received a donation of £1,000 (2024; £1,000) from Buckswood School Limited, a company whose Finance Director is also a trustee of the charity. The trustee did not receive any remuneration, benefit, or reimbursement in connection with this donation.
During the current year, it was identified that a donation of £1,000 had been omitted from the financial statements for the year ended 31 December 2024. The donation related to accountancy fees paid on behalf of the charity by a related party and should have been recognised as both donation income and expenditure in the prior year.
Accordingly, the comparative figures have been restated to recognise donation income of £1,000 and support costs of £1,000. As the adjustment results in an equal increase in income and expenditure, there is no effect on net income, total funds or net assets previously reported.
Additionally, a review was done in year of historic balance sheet items and a corresponding adjustment of £1,000 was made to both other debtors and accruals.