Lilian Baylis Technology Schoolfluencycontent2-schoolwebsite.netdna-ssl.com/FileCluster/LilianBayli… · 02/05/17 DRAFT Lilian Baylis Technology School Annual Report and Financial

02/05/17 DRAFT

Lilian Baylis Technology School

Annual Report and Financial Statements

2015/16

Contents DRAFT

LILIAN BAYLIS TECHNOLOGY SCHOOL

Reports

Reference and administrative information 1

Governors’ report 2

Governance statement 9

Statement of regularity, propriety and

compliance

Statement of governors’ responsibilities

Independent auditor’s report on the

financial statements

Independent reporting accountant’s

report on regularity

Financial statements

Statement of financial activities 13

Balance sheet 14

Cash flow statement 15

Principal accounting policies 16

Notes to the financial statements 17

Reference and administrative information DRAFT

Lilian Baylis Technology School 1

Governors

Martin Ripley

Teresa Clay

Rao Bhamidimarri

Alan Kennedy

David Smith

Fatima Vepari

Janet Benjamin

John Citron

Karan Mangroo

Marie Peries

Victoria Sherwin

Vivienne Hayes

Sharon Hunt

Janine Knight

Christopher Charles

Jordan Crawford

Richard Pone

Christopher Toye

Gary Phillips

1

1

1

1

3

1

2

1

1

1

2

1

1

4

1

5

1

1

x-officio

Key 1 Copted Governor, 2 Parent Governor, 3 LA

Governor, 4 Associate Governor, 5 Staff

Governor

Clerk Mark Stuter

Senior Team:

Headteacher

Deputy Head: Inclusion

Deputy Head: Curriculum

Deputy Head: 6th

Form

Acting Deputy Head: Achievement

Senior Assistant Head: 6th

Form

Assistant Headteacher: KS3

Assistant Head: Business &

Finance

Gary Phillips

Elga Stuck

Su Wardrop

Karen Camberlain

Marie Nassor

Jon Wilson

Ben Wright

Edna Dwomoh

Registered address Lilian Baylis Technology School

323 Kennington Lane

London

SW11 5QY

Governors’ report 31 March 2016 DRAFT


The Governors of Lilian Baylis Technology School (‘the School’) present their report

together with the financial statements for the year ended 31 March 2016. The annual report

serves the purposes of both a trustee’ report and a directors’ report under company law.

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Governors

The following Governors were in office at 31 March 2016 and served throughout the year

except where shown.

Governor

Appointed

Appointment Expires/Expired

Rao Bhamidimarri (Chair of Governors)

29 January 2015 28 January 2019

Janet Benjamin 19 May 2014 18 May 2018

Pamela Calder 29 January 2015 28 January 2019

John Citron 29 January 2015 28 January 2019

Teresa Clay 29 January 2015 28 January 2019

Vivienne Hayes 29 January 2015 28 January 2019

Sharon Hunt 29 January 2015 28 January 2019

Alan Kennedy 29 January 2015 28 January 2019

Karan Mangroo 29 January 2015 28 January 2019

Marie Peries 29 January 2015 28 January 2019

Martin Ripley 29 January 2015 28 January 2019

Victoria Sherwin 1 November 2013 31 October 2017

David Smith 30 September 2014 29 September 2018

Fatima Vepari 29 January 2015 28 January 2019

Gary Phillips (Headteacher) Ex-Officio

Method of recruitment and appointment or election of governors

The method of recruitment or election of Governors is detailed in the School’s Funding

Agreement.

The Governing Board comprise of up to 20 governors who may be appointed as follows:

1 LA Governor

12 Co-opted Governors

2 Parent Governors – who are elected by the parents of the School.

2 Staff Governors – including the Headteacher (ex-officio).



STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

There can also be up to 3 Associate Governors appointed by the Governing Board.

Associate Governors contribute to meetings but are non-voting members.

All Governors serve a term of office of 4 years, save as varied by the initial resolution

detailed above.

Review of Governance The Governing Body resolved to have a full external review of Governance in 2016-17.

Policies and procedures adopted for the induction and training of governors

There is a full programme of training for governors led by Lambeth Council. Governor

training and development is a standing item on Full Governing Board agendas and

Governors may attend the Governor Training Programme administered by the London

Borough of Lambeth. The School has National Governors’ Association Gold Membership

and governors can access training through this route. Furthermore, annual reviews are

carried out to highlight any further training and development needs.

Organisational structure

The structure is the Governing Board, Headteacher and Senior Management Team of Lilian

Baylis Technology School. The Governors have strategic oversight and the Headteacher,

along with the Senior Management Team, is responsible for the strategic and operational

leadership and management of the School

The senior management team structure in place for the year consisted of a Headteacher, 2

Deputy Heads, an Acting Deputy Head, a Senior Assistant Head, an Assistant Headteacher:

KS3 and an Assistant Headteacher: Business and Finance. The aim of the Senior

Management Team structure was to devolve responsibility, increase accountability and

encourage decision making at all levels. The Senior Management Team is responsible for

delivering the approved strategic actions in the School Improvement.

Connected organisations, including related party relationships

The school is a lead partner in the Lambeth Teaching School and receives grants to carry

out a number of activities.



OBJECTIVES AND ACTIVITIES

Objects and aims

The main objectives of the school during the year ended 31 March 2016 are summarised

below:

To ensure equality through action

To maximise the achievement of all students

Learning through a broad, balanced, relevant and personalised curriculum

To develop the self-confidence and identity of all our students

To develop, responsible and considerate citizens

To provide a secure and stimulating environment

An active partnership with parents and the wider community

The school’s stated aims are:

LBTS will be the first choice for the local community because it meets the needs of all its students. In order to do this we will continue to:

Develop our curriculum to ensure that all students follow a curriculum which meets their individual needs. In particular we want to create a more engaging Y7/8 curriculum so that students are motivated to achieve at KS4.

Continue to develop our distinctive LBTS teaching methodology by understanding the variety of different ways students learn, better use of assessment and by making good use of new technologies.

Enhance our support for students and families who need additional support through partnership with other organisations.

Students will leave LBTS with a strong ambition and the capacity to achieve it. They will look back at their time at LBTS knowing it has transformed their life chances

Public benefit

The School is a comprehensive school and offers places equally in five ability bands in the

Secondary Phase (fair banding) and is over-subscribed. The main oversubscription criteria

relate to children looked after, those with a brother or sister in the school or expected to be

on the School roll at the time of admission, exceptional social or medical need and those

living closest to the School measured by the shortest lit walking route.

STRATEGIC REPORT

Review of activities

The Ofsted Inspection of 2013 had the following priorities:

Enable a higher proportion of students to make consistently outstanding progress across all subjects by ensuring that:

- teachers’ marking always gives precise guidance on how students can improve their work

- students are given further opportunities to use their own initiative in lessons and develop their independence as learners.



The School Improvement Plan for the year to 31 March 2016 prioritised progress for groups

who had not made good progress in the previous year. The priorities for Teaching and

Learning were increased challenge and the development of ‘Lilian Baylis Learning Power’

(our subject mastery programme). The focus for attendance and punctuality was to further

reduce the number of students who are persistently absent.

The development of teaching focused on the continued development of our LBTS teaching

methodology. The observation programme for the year indicated that the quality of teaching

in school was very strong. The professional development of all staff remained a key priority

and a large number are supported in following post graduate or similar programmes of

study.

The school’s first School Direct Trainee completed his school based Initial Teacher Training.

The development and training of new and early career teachers is a priority for the school.

The school has a comprehensive self-evaluation process in place which is supported by the

Lambeth Council School Improvement Partner who visits each term. This was further

supplemented by work with other schools, an Ofsted Registered HMI and Additional

Inspectors to gain a broad independent evaluation of the school’s performance. All the

information pointed to the quality of provision in the school being outstanding.

Like many schools nationality, the school experienced some turbulence in examination

outcomes for 2015/16 as there has been considerable change to the examination system

and the GCSE results for 2016 are therefore not directly comparable with 2015.

Examination results for 2015/2016 were as follows:

GCSE 2016 5A*-C 72% 5A*-C (E/M) 60% 5 A*-G 100% English Baccalaureate 28% A Level A*-B 44% A*-C 74% A*-E 98%



Review of activities (continued)

The results were extremely good by most measures. The Y11 results resulted in a progress

8 score of 0.53 and most attainment data was at or able national averages even though the

intake was significantly below national averages.

In LBTS6 the value added in A levels (0.4) and BTECs (0.92) was good with attainment at

or close to national averages except for the very highest grades at A level.

Going concern

After making appropriate enquiries, the governing body has a reasonable expectation that

the School has adequate resources to continue in operational existence for the foreseeable

future. For this reason it continues to adopt the going concern basis in preparing the

financial statements.

Key financial performance indicators

The key financial performance indicator for the School was to maintain the current level of

educational provision whilst maintaining an in-year operating surplus. The financial

performance is covered in detail under the Financial Review. This key indicator was met in

the year to 31 March 2016.

Financial review

Financial report for the year

In the year to 31 March 2016 the School delivered an in-year surplus of £109,675 (2015 -

£341,132).The restricted general fund shows a cumulative balance carried forward of

£1,401,510 (2015 - £1,291,835).

Most of the School’s income is obtained from the Local Authority in the form of recurrent

grants the use of which is restricted to furthering the education of LBTS students. The

grants received during 2015/16 and the associated expenditure are shown as restricted

funds in the SOFA. The income received from all sources totalled £7,573,202 (2015 -

£7,408,226). Total expenditure was £7,463,527 (2015- £7,067,094).The school held

reserves of £1,401,510 in the Restricted fund as at 31 March 2016.

Governors have monitored the budget through the year and are satisfied with the in-year

surplus and level of reserves held. They are keen to ensure adequate resources are made

available to maintain and improve the education achievement of the students in the school.

The SOFA is on page 16 of these financial statements and the Balance Sheet is on page

17.



STRATEGIC REPORT (continued)

Financial and risk management objectives and policies

Risks are defined as uncertain future events that might prevent the school from achieving its

objectives. The governing body therefore ensures that it has in place the means to identify,

analyse, control and monitor the strategic and operational risks it faces through its Fraud

Policy, Risk Register and Critical Incident Plan.

Reserves policy

The policy of the School is to carry forward a prudent level of resources designed to meet

the long term cyclical needs (including ICT procurement) and other unforeseen

contingencies. In particular the school has resolved to use revenue reserves to further

support attainment in the school.

Governors are aware of a number of future financial uncertainties including national funding

levels (including SEN and post 16) and additional resources required whilst the school

grows. They believe that a cautious approach to reserves is currently required.

Governors regularly review the reserves of the School and consider them to be sufficient for

the future needs of the School.

Financial review (continued)

Investment policy

The School’s revenue reserve is subject to the oversight of the Local Authority. Governors

receive regular reports in relation to cash flow and reserves.

Principal risks and uncertainties

Governors have assessed the key risks to which the School is exposed, in particular those

relating to the specific teaching, provision of facilities and other operational areas of the

School and its finances. Governors have implemented a number of systems to assess risks,

especially those relating to teaching, health and safety and school visits and in relation to

the control of finance. Governors have introduced a range of policies and procedures, such

as vetting new employees and volunteers, security of the School site, visitor control and

internal financial controls in order to minimise risk. Governors have also ensured that they

have adequate insurance cover and are satisfied that the systems in place are consistent

with Lambeth Council guidelines.



STRATEGIC REPORT (continued)

The School has developed a Fraud Policy, Risk Register and Critical Incident Plan which

are regularly reviewed by Governors. These provide a formal process to assess financial

and business risks and implement risk management strategies. This has involved identifying

the types of risks the School faces, scoring and prioritising them in terms of their potential

operational and financial impact, assessing the likelihood of occurrence and identifying ways

to mitigate risks. The School’s main risks are:

Reduction in funding through policy and formula changes. For example High Needs and

Post 16 Funding.

The risks associated with changes to assessment, specifically at GCSE and A level.

The governors are aware of the current uncertainty around school funding as the new

formulae including Post 16 funding and SEN funding take effect. They aim to set in-year

balanced budgets in as far as is possible. In the event that an in-year deficit budget is set,

governors will look at the 3-year projections in order to ascertain overall sustainability.

FUTURE ACTIVITIES AND PLANS

The school will continue to develop its partnerships with other schools through the work of

the Teaching School and other partners.

Internal Audit

Insofar as the governors are aware:

there is no relevant audit information of which the LA’s auditor is unaware; and

the governors have taken all steps that they ought to have taken to make themselves

aware of any relevant audit information and to establish that the LA is aware of that

information.

Governors’ report, incorporating a strategic report, approved by order of the members of the

Governing Body and signed on their behalf by:

Martin Ripley

Chair of the Governing Body

Date:

Governance Statement 31 August 2015 DRAFT


Scope of responsibility

As governors, we acknowledge we have overall responsibility for ensuring that Lilian Baylis

Technology 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.

The governing body have 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 by the Local Authority. The Headteacher is also responsible

for reporting to the governing body any material weaknesses or breakdowns in internal

control.

Governance

The information on governance included here supplements that described in the governors’

report and in the statement of governors’ responsibilities. The governing body has formally

met 3 times during the year. Attendance during the year at meetings of the governing body

was as follows:

Governor

Number of meetings attended

Out of a possible

Rao Bhamidimarri (Chair of Governors) 3 3

Janet Benjamin 1 3

Pamela Calder 2 3

Teresa Clay 3 3

John Citron 2 3

Barbara Ferramosca 1 3

Vivienne Hayes 1 3

Sharon Hunt 3 3

George Kalorkoti 0 3

Alan Kennedy 2 3

Karan Mangroo 0 3

Marie Peries 3 3

Martin Ripley 3 3

Victoria Sherwin 0 3

David Smith 2 3

Fatima Vepari 1 3

James Volkelt-Igoe 1 3

Gary Phillips (Headteacher) 3 3



Governance (continued)

Governance reviews

In 2013, Ofsted judged governance to be outstanding. Nevertheless, governors had

already started a comprehensive review of governance to ensure that the board was

sufficiently skilled and that the committee structure was suitable for the demands of

modern governance.

The Finance and General Purposes Committee is a committee of the main governing body.

The purpose is to act on behalf of the full Governing Body and make decisions on its behalf

in order to ensure the effective and efficient use of financial and physical resources and

services that underpin achievement and standards. In addition to regular financial

monitoring, the committee reviewed systems in place for academy status and responded to

government consultations on school funding.

Attendance at Finance and General Purposes Committee meetings in the year was as

follows:

Governor

Number of meetings attended

Out of a possible

David Smith (Chair) 3 3

Pamela Calder 3 3

Teresa Clay 0 3

Gary Phillips (Headteacher) 2 3

Review of value for Money

As accounting officer the Headteacher has responsibility for ensuring that the school

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 trust’s use of its resources has provided good

value for money during the financial year, and reports to the board of trustees where value

for money can be improved, including the use on benchmarking data where available. The

accounting officer for the school has delivered and improved value for money during the

year by:

Improving Educational Outcomes

We have ensured that resources are directed where they are most needed and most

effective in meeting educational requirements, for example by:

Targeting resources (including staffing) in key areas.

Monitoring the needs of particular pupils and targeting appropriate support.

Monitoring staff performance through appraisal.



Financial Governance

The school’s governance arrangements include regular financial monitoring and the

management accounts are produced on a monthly basis.

Staffing

Staff costs are the major area of expenditure for the school and great care is given to

ensuring that the staffing structure is appropriate, effective and cost effective. Benchmarking

indicates that overall staff costs are just above the sector average, however the positive

outcomes for students show that this is targeted effectively.

The purpose of the system of internal control

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 ongoing process designed to identify and prioritise the risks to the

achievement of the School’s 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 at

the School for the year ended 31 March 2016 and up to the date of approval of the annual

report and financial statements.

Capacity to handle risk

The governing body has reviewed the key risks to which the School is exposed together

with the operating, financial and compliance controls that have been implemented to

mitigate those risks. The governing body is of the view that there is an ongoing process for

identifying, evaluating and managing the School’s significant risks that has been in place for

the year ended 31 March 2016 and up to the date of approval of the annual report and

financial statements. This process is regularly reviewed by the governing body.

The risk and control framework

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. In particular, it includes:

comprehensive budgeting and monitoring systems with an annual budget and

periodic financial reports which are reviewed and agreed by the governing body;

regular reviews by the finance and general purposes 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;

delegation of authority and segregation of duties;



identification and management of risks.

The governing body reviews the reports produced by the schools accountant on a

termly basis. The Headteacher receives monthly management accounts from the

schools accountant. The school is subject to the LA’s internal audit regime and was last

visited in January 2015 when the school was assessed as Medium Risk. The matters

raised in the report have all been resolved.

Review of effectiveness

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 the schools accountant

the work of the finance team

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 General Purposes Committee and a plan to ensure

continuous improvement of the system is in place.

Approved by order of the Governing Body and signed on their behalf by:

Martin Ripley Gary Phillips

(Chair of Governing Body) (Headteacher)

Approved on:

Statement of Financial Activities as at 31 August 2015

DRAFT


Un-restricted

general fund

£

Restricted funds

Year to 31 March

2016 Total

funds £

Year to 31 March 2015 Total funds

£ Notes

EFA £

Other £

Fixed assets

fund £

Incoming resources

Incoming resources from generated funds

. Voluntary income 1 - - - -

. Activities for generating funds

2

-

-

-

-

. Investment income 3 - - - -

Incoming resources from charitable activities

. Funding for the School’s educational operations

4

-

7,573,202

-

-

7,573,202

7,408,226

Total incoming resources 0 7,573,202 0 0 7,573,202 7,408,226

Resources expended

Cost of generating funds:

. Cost of generating voluntary income

-

-

-

-

-

Charitable activities

. School’s educational operations

6

7,463,527

7,463,527

7,067,094

Governance costs 7 - -

Total resources expended 5 0 7,463,527 0 0 7,463,527 7,067,094

Net (outgoing) incoming resources before transfers

109,675 109,675 341,132

Gross transfers between funds 14 - - - - - -

Net (expenditure) income for the year

0 109,675

0

-

0

109,675 341,132

Other recognised gains and losses

Actuarial (losses) gains on defined benefit pension scheme

22

-

-

-

-

-

Net movement in funds 0 109,675 0 0 109,675 341,132

Reconciliation of funds

Fund balances brought forward at 1 September 2014

0

1,291,835

0

0

1,291,835

950,703

Fund balances carried forward at 31 March 2015

0

1,401,510

0

0

1,401,510

1,291,835

All of the School’s activities derive from continuing operations in the above two financial periods.

A separate Statement of Total Recognised Gains and Losses is not required as all gains and losses are

included in the Statement of Financial Activities.

Balance Sheet as at 31 August 2015

DRAFT


Notes

2016 £

2016 £

2015 £

2015 £

Current assets

Debtors 12 322,039 4,940

Cash at bank and in hand 2,300,369 2,607,140

2,622,408 2,612,080

Creditors: amounts falling due

within one year

Deferred Income

13

874,584

346,314

1,320,245

0

Net current assets

1,220,898

1,401,510

1,320,245

1,291,835

Funds of the School

Restricted General Fund 14 1,401,510

1,291,835

The financial statements on page 13 to 17 were approved by the Governors, and authorised

for issue on [ ] and are signed on their behalf by:

Martin Ripley

Chair of Governors

Cash flow statement 31 August 2015 DRAFT


Notes

Year to 31 March

2016 £

Year to 31 March 2015

£

Net cash (outflow) inflow from operating activities 17 (306,771) (168,682)

Returns on investment and servicing of finance 18 0

Capital expenditure that has been capitalised 19 0

Decrease in cash in the period (306,771) (168,682)

Reconciliation of net cash flow to movement in net funds:

Net funds at 31 March 2015 2,607,140 2,775,822

Net funds at 31 March 2015 2,300,369 2,607,140

All of the cash flows derived from continuing operations in the above two financial periods.

Notes to the Financial Statements 31 March 2016 DRAFT


Basis of Preparation

The financial statements have been prepared on an accruals basis. All expenditure on

Fixed Assets is written off in the year of purchase. A summary of the principal accounting

policies, which have been applied consistently is set out below.

Going Concern

The governors 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 company to continue as a going concern. The governors make

this assessment in respect of a period of one year from the date of approval of the

financial statements.

Incoming Resources

All incoming resources are recognised when the School has entitlement to the funds, and

where certainty of receipt and the amount can be measured with sufficient reliability.

Grants receivable

All 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 year is

shown in the relevant funds on the balance sheet. Where income is received in advance of

entitlement of receipt its recognition is deferred and included in creditors as deferred

income. Where entitlement occurs before income is received, the income is accrued.

Budget Share is recognised in full in the year for which it is receivable and any unspent

amount is reflected as a balance in the restricted general fund. Capital grants are

recognised when receivable and are taken as Income in the year they are due.

Donations

Donations are recognised on a receivable basis where there is certainty of receipt and the

amount can be reliably measured.

Other income

Other income is recognised in the period it is receivable.

Gifts in kind

The value of gifts in kind provided to the School are recognised at a valuation attributed by

the governors in the period in which they are receivable as incoming resources, where the

benefit to the School can be reliably measured.

Resources Expended

All expenditure is recognised in the period in which a liability is incurred and has been

classified under headings that aggregate all costs related to that category.




These are costs incurred on the School’s educational operations.

Taxation

The School 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.

Fund Accounting

Unrestricted income funds represent those resources which may be used towards meeting

any of the charitable objects of the School at the discretion of the governors.

Restricted EFA/DfE funds comprise all other grants received from the Education Funding

Agency/Department for Education via the Local Authority.

1 Voluntary income

No income was identified as Voluntary Income in the year to 31 March 2016. Activities for

generating funds

2 Investment income

No material investment income was received in the year to 31 March 2016.

3 Funding for the School’s educational operations

Unrestricted funds

£

Restricted funds

£

2016 Total funds

£

2015 Total funds

£

DfE / EFA revenue grant

. DfE / EFA and other - 7,573,202 7,573,202 7,408,226

- 7,573,202 7,573,202 7,408,226



4 Resources expended

Non staff expenditure

2016 Total funds

£

2015 Total funds

£

Staff costs

£

Premises

£

Other costs

£


. School’s educational operations

4,931,678 294,468 2,237,381 7,463,527 7,067,094

4,931,676 294,468 2,237,381 7,463,527 7,067,094

6 Charitable activities - School's educational operations

2016 Total funds

£

2015 Total funds

£

Direct costs

Teaching and educational support staff costs 4,669,102 4,540,421

Agency teaching and educational support supply costs 0 0

Other Staff 262,577 300,361

Educational supplies 267,764 249,241

Examination fees 113,707 158,099

Staff development and Indirect staff costs 96,825 120,970

Premises costs 294,468 301,902

Other direct costs 1,759,084 1,396,100

7,463,527 7,067,094

7 Governance costs

No costs identified.

8 Staff

(a) Staff costs

Staff costs during the period were:

Unrestricted funds

£

Restricted funds

£

2016 Total funds

£

2015 Total funds

£

Wages and salaries - 4,044,966 4,044,966 4,005,180

Social security costs - 328,095 328,095 331,619

Pension costs - 558,619 558,619 503,983

4,931,679 4,931,679 4,840,782



(b) Staff numbers

The average numbers of persons (including senior management team) employed by the

School during the period expressed as a full time equivalents was as follows:


2016 No

2015 No

Teachers 60 59

Administration and support 55 55

Management 8 8

Agency teaching and educational support 1 1

124 123

(c) Higher paid staff

The number of employees whose annual emoluments fell within the following bands was:

2016 No

2015 No

£60,001 - £70,000 2 3

£70,001 - £80,000 5 4

£80,001-£90,000 1 1

£120,001 - £130,000 - -

£130,001-£140,000 - -

Seven of the above employees participated in the Teachers’ Pension Scheme. During the

year ended 31 March 2016 pension contributions for these staff amounted to £87,589

(2015 - £86275). The other employee (2015 – one) participated in the Local Government

Pension Scheme and pension contributions amounted to £10,438 (2015 - £9,548).

9 Governors’ remuneration and expenses

The Headteacher is a governor of the Lilian Baylis Technology School. Elected staff

governors only receive remuneration in respect of services they provide undertaking their

roles as staff and not in respect of their services as governors. Other governors did not

receive any payments, other than expenses, from the school in respect of their role as

governors. The annual value of governors’ remuneration and other benefits was as

follows:

2016 £

2015 £

Gary Phillips - Headteacher

Remuneration £92,099 £91,187

Employer’s pension contributions 15,104 14,954

Barbara Ferramosca

Remuneration 33915 33,400

Employer’s pension contributions 7359 7247

James Volkelt-Igoe staff governor

Remuneration 39,003

Employer’s pension contributions £6396

Jordan Crawford staff governor

Remuneration 32,662 -

Employer’s pension contributions 5,357 -



The pension contributions for the Headteacher were £15,104 (2015 - £14,954) for the 12

month period.

During the year ended 31 March 2016,no travel and subsistence expenses were

reimbursed to any governor (2015 - £154.25).

Other related party transactions involving the trustees are set out in note 23.

10 Governors’ and Officers’ insurance

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 cover up to £5,000,000 on

any one claim.

11 Debtors

2016 £

2015 £

Trade debtors 60,241 40,710

Prepayments 88,240 84,854

VAT Debtor 116,078 130,741

Other debtors and accrued income 175,521 378,903

440,080 635,208

12 Creditors: amounts falling due within one year

2016 £

2015 £

Trade creditors - 33,295

Creditors relating to undistributed funds 7,312 -

Other taxation and social security 160,895 168,149

Accruals and deferred income 86,189 69,508

254,396 270,952

Deferred Income 2016

£

Deferred Income at 1 September 2014 23,771

Resources deferred in the year 38,596

Amounts released from previous years 23,771

Deferred income at 31 March 2015 38,596

At the balance sheet date the school was holding funds received in advance for Lilian

Baylis TechnologySchool..

13 Funds

Balance at 31 March 2014 £

Incoming resources £

Resources expended £

Gains, losses and transfers £

Balance at 31 March 2015 £



EFA revenue grant fund

. General Annual Grant (GAG) 139,958 8,987,389 (8,851,220) - 276,127

. Other EFA grants — 668,926 (668,926) -

. Pension reserve (1,609,000) (4,000) (157,000) (107,000) (1,877,000)

(1,469,042) 9,652,315 (9,677,146) (107,000) (1,600,873)

Fixed assets fund

. EFA capital grants 44,991 25,142 (13,939) - 56,194

. Capital grants from Local Authority

1,020,659

105,000

(95,546)

-

1,030,113

. Capital expenditure from GAG

10,589

-

-

-

10,589

. Academy building and furniture and equipment

26,202,570

-

(1,437,687)

-

24,764,883

27,278,809 130,142 (1,547,172) -- 25,861,779

Other funds

. Local Authority grants 275,059 762,570 (762,570) - 275,059

. South Lambeth School Partnership

—

275,059 762,570 (762,570) - 275,059

Total restricted funds 26,084,826 10,545,027 (11,986,888) (107,000) 24,535,965

Unrestricted funds

. Unrestricted funds 1,626,636 440,531 (193,173) - 1,873,994

Total unrestricted funds 1,626,636 440,531 (193,173) 1,873,994

Total funds 27,711,462 10,985,558 (12,180,061) (107,000) 26,409,959

The specific purposes for which the funds are to be applied are as follows:

DfE/EFA revenue grant fund and other restricted funds

The General Annual Grant (GAG) has been provided by the DfE/EFA in order to fund the

normal running costs of the School. Other funding received from the DfE/EFA included the

Pupil Premium, 16-19 Bursary, and a grant for insurance and the sports partnership grant.

The Local Authority provided SEN funding and the balance of funds owing to the School at

conversion.

General Annual Grant (GAG)

Under the funding agreement with the Secretary of State, the School was not subject to a

limit on the amount of GAG that it could carry forward at 31 March 2016



14 Funds (continued)

Fixed asset fund

Restricted fixed asset funds include devolved formula capital grants provided by the

DfE/EFA for the cost of minor works and ICT and capital replacement. The School also

holds BSF ICT capital funding in cash for future ICT provision. The fund also includes

capitalised assets purchased by the School and the value of capital assets inherited by or

donated to the School.

Pension reserve

The restricted Pension reserve represents the deficit on the School’s share of the Local

Government Pension Scheme as at 31 March 2016.

15 Analysis of net assets between funds

Unrestricted funds

£

Restricted

General Funds

£

Restricted Fixed Asset Fund

£

Total 2016

£

Fund balances at 31 March 2016 are represented by:

Tangible fixed assets 25,011,167 25,011,167

Current assets 1,873,994 805,582 850,612 3,530,188

Current liabilities (254,396) - (254,396)

Pension scheme liability (1,877,000) - (1,877,000)

Total net assets 1,873,994 (1,325,814) 25,861,779 26,409,959

16 Financial Commitments

Operating Leases

As at 31 March 2016 the School had annual commitments under non-cancellable

operating leases as follows:

2016 £

2015 £

Other

Expiring within one year 8,982 —

8,982

.



17 Reconciliation of net income to net cash inflow from operating activities Year to 31

March 2016

£


£

Net income 109,675 341,132

Depreciation (note 11)

Loss on disposal of tangible fixed assets - -

Capital grants from DfE and other capital income

Interest receivable (note 3)

FRS 17 pension cost less contributions payable (note 23)

FRS 17 pension finance income (note 23)

(Increase)/Decrease in debtors (317,099) 144,013

Increase/(Decrease) in creditors (99,347) (653,827)

Net cash inflow from operating activities (306,771) (168,682)

18 Returns on investment and servicing of finance Year to 31

March 2016

£


£

Interest received 18,765 9,074

Net cash inflow from returns on investment and servicing of finance 18,765 9,074

19 Capital expenditure and financial investment

Year to 31 March

2016 £


£

Capital grants from DfE / EFA 25,142 24,303

Capital funding received from sponsors and others 105,000 137,695

Purchase of Tangible Fixed Assets (91,237) (164,613)

Net cash (outflow)/inflow from capital expenditure and financial investments

38,905

(2,615)

20 Analysis of changes in net funds At 1

September 2014

£

Cashflows £

At 31 March

2016 £

Cash in hand and at bank 2,489,104 601,004 3,090,108

21 Members’ Liability

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/she is a member, or within one year

after he/she ceases to be a member, such amount as may be required, not exceeding £10

for the debts and liabilities contracted before he/she ceases to be a member.



22 Pension and similar obligations

The School’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.

Teachers’ Pension Scheme

Introduction

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme,

governed by the Teachers' Pensions Regulations (2010) and, from 1 April 2014, by the

Teachers’ Pension Scheme Regulations 2014. Membership is automatic for full-time

teachers in academies and, from 1 January 2007, automatic for teachers in part-time

employment following appointment or a change of contract, although they are able to opt

out.

The TPS is an unfunded scheme and members contribute on a ‘pay as you go’ basis –

these contributions along with those made by employers are credited to the Exchequer.

Retirement and other pension benefits are paid by public funds provided by Parliament.

The Teachers' Pensions Regulations require an annual account to be kept of receipts and

expenditure (including the cost of pensions’ increases). From 1 April 2001, the account

has been credited with a real rate of return, which is equivalent to assuming that the

balance in the account is invested in notional investments that produce that real rate of

return.

Valuation of the Teachers’ Pension Scheme

The latest actuarial valuation of the TPS was carried out as at 31 March 2012 and in

accordance with the Public Service Pensions (Valuations and Employer Cost Cap)

Directions 2014. The valuation report was published by the Department for Education on 9

June 2014. The key elements of the valuation and subsequent consultation are:

employer contribution rates set at 16.48% of pensionable pay (including a 0.08%

employer administration charge (currently 14.1%);

an employer cost cap of 10.9% of pensionable pay will be applied to future valuations.

The new employer contribution rate is applicable from 1 April 2016 and will be

implemented for the TPS from September 2016.

22 Pension and similar obligations (continued)

Teachers’ Pension Scheme (continued)

A copy of the valuation report and supporting documentation is on the Teachers’ Pensions

website (https://www.teacherspensions.co.uk/news/employers/2014/06/publication-of-the-

valuation-report.aspx).

https://www.teacherspensions.co.uk/news/employers/2014/06/publication-of-the-valuation-report.aspx

https://www.teacherspensions.co.uk/news/employers/2014/06/publication-of-the-valuation-report.aspx



Teachers’ Pension Scheme Changes

Lord Hutton made recommendations in 2011 about how pensions can be made

sustainable and affordable, whilst remaining fair to the workforce and the taxpayer. The

Government accepted Lord Hutton’s recommendations as the basis for consultation with

trade unions and other representative bodies. In March 2012 the Department for

Education published proposals for the design for a reformed TPS.

The key provisions of the reformed scheme include: a pension based on career average

earnings; an accrual rate of 1/57th; and a Normal Pension Age equal to State Pension

Age, but with options to enable members to retire earlier or later than their Normal Pension

Age. Pension benefits built up before 1 April 2016 will be fully protected.

In addition, the proposed final agreement includes a Government commitment that those

within 10 years of normal pension age on 1 April 2012 will see no change to the age at

which they can retire, and no decrease in the amount of pension they receive when they

retire. There will also be further transitional protection, tapered over a three and a half year

period, for people who would fall up to three and a half years outside of the 10 year

protection.

Teachers’ Pension Scheme Changes (continued)

In his interim report of October 2010, Lord Hutton recommended that short-term savings

were also required, and that the only realistic way of achieving these was to increase

member contributions. At the Spending Review 2010 the Government announced an

average increase of 3.2 percentage points on the contribution rates by 2014-15. The

increases have been phased in since April 2012 on a 40:80:100% basis.

The Department for Education has continued to work closely with trade unions and other

representatives bodies to develop the reformatted Teachers’ Pension Scheme and

regulations giving effect to it came into force on 1 April 2014. Communications are being

rolled out and the reformatted scheme will commence on 1 April 2016.

Under the definitions set out in Financial Reporting Standard (FRS 17) Retirement

Benefits, the TPS is a multi-employer pension scheme. The school is unable to identify its

share of the underlying assets and liabilities of the scheme. Accordingly, the school has

taken advantage of the exemption in FRS 17 and has accounted for its contributions to the

scheme as if it were a defined contribution scheme. The school has set out above the

information available on the scheme.


Teachers’ Pension Scheme (continued)

Local Government Pension Scheme (LGPS)

The LGPS is a funded defined-benefit scheme, with the assets held in separate trustee-

administered funds. The total contribution made for the period ended 31 March 2016 was

£298,890 of which employer’s contributions totalled £96,417 and employees’ contributions

totalled £196,806.



Parliament has agreed, at the request of the Secretary of State for Education, to a

guarantee that, in the event of school closure, outstanding Local Government Pension

Scheme liabilities would be met by the Department for Education. The guarantee came

into force on 18 July 2013.

Principal Actuarial Assumptions

At 31 March

2016

At 31 March 2015

Rate of increase in salaries 4.4% 4.4%

Rate of increase for pensions in payment / inflation 2.6% 2.6%

Discount rate for scheme liabilities 4.0% 3.9%

Inflation assumption (CPI) 2.6% 2.6%

Inflation assumption (RPI) 3.5% 3.4%




Local Government Pension Scheme (continued)

The current mortality assumptions include sufficient allowance for future improvements in

mortality rates. The assumed life expectations on retirement age 65 are:

At 31 March

2016

At 31 March 2015

Retiring today

Males 21.1 21.0

Females 25.2 25.1

Retiring in 20 years

Males 23.4 23.3

Females 27.5 27.4

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Lilian Baylis Technology Schoolfluencycontent2-schoolwebsite.netdna-ssl.com/FileCluster/LilianBayli… · 02/05/17 DRAFT Lilian Baylis Technology School Annual Report and Financial