CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee)
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Company Registration Number: 10004115 (England & Wales) CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2020 CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details 1 - 2 Trustees' Report 3 - 17 Governance Statement 18 - 21 Statement on Regularity, Propriety and Compliance 22 Statement of Trustees' Responsibilities 23 Independent Auditors' Report on the Financial Statements 24 - 26 Independent Reporting Accountant's Report on Regularity 27 - 28 Statement of Financial Activities Incorporating Income and Expenditure Account 29 Balance Sheet 30 - 31 Statement of Cash Flows 32 Notes to the Financial Statements 33 - 59 CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS Members Dr N Hindley Professor E Viding Mr A Tusting (resigned 29 January 2020) Mr D Mortimer Mr R Munday Trustees Mr D Mortimer, Chair of Trustees1 Mr R Munday MBE1 Mr I McCaul, CEO and Accounting Officer1 Mrs M Millward1 Ms J Welch1 Mr M Jones (resigned 7 July 2020)1 Mrs R Pryce-Jones1 Miss T Rowe, Staff Trustee (resigned 8 March 2020)1 Mr D Sweeney1 Ms S Jaffrey (appointed 16 October 2019)1 Mr J Browne (appointed 6 February 2020)1 Ms T Hughes1 Mr J Twining, Staff Trustee1 Mrs S Shepherd1 1 Director of the charitable company Company registered number 10004115 Company name Chiltern Way Academy Trust Principal and registered Wendover House Campus office Church Lane, Wendover Aylesbury Buckinghamshire HP22 6NL Company secretary Mrs L B D Switzer Chief executive officer Mr I McCaul Senior management team Mr I McCaul, CEO Mr G Regan, Director of Schools Mr N Hall, Head, Prestwood Campus Mr P Coffey, Head, Wendover Campus Mrs L Switzer, Strategic Business Development Director Mrs A Roberts, Finance Director Mrs D Lewis, Academy Business Manager Mr R Baber, Deputy Head Post 16 Mrs C Bakermault, Deputy Head Wendover Campus Mrs S Stevens, Deputy Head Prestwood Campus Mr C Mansell, Head Bierton Campus Mr S Tavender, Academy Behaviour Director Mr L Beagle, Assistant Head Wendover Campus Page 1 CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2020 Mr M Taylor, Assistant Head Wendover Campus Ms M Sweetland, Assistant Head Prestwood Campus Ms A Power, Assistant Head Bierton Campus Independent auditors Landau Baker Limited Chartered Accountants Statutory Auditors Mountcliff House 154 Brent Street London NW4 2DR Bankers Lloyds Bank plc 1 Market Square Aylesbury HP20 1TD Solicitors Browne Jacobson Mowbray House Castle Meadow Road Nottingham NG2 1BJ Page 2 CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee) TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2020 The trustees present their annual report together with the financial statements and auditor's report of the charitable company for the 1 September 2019 to 31 August 2020. The Annual Report serves the purposes of both a Trustees' Report, and a Directors' report under company law. The trust operates an academy for students aged 9-19 serving a catchment area in Buckinghamshire. It has a student capacity of 150 and had a roll of 137 in the academy census on 16 May 2020. The trust operates one secondary special academy over two campuses in Buckinghamshire, one in Prestwood and one in Wendover. Structure, governance and management a. Constitution The academy is a charitable company limited by guarantee and an exempt charity. The charitable company's Memorandum of Association is the primary governing document of the academy trust. The trustees of Chiltern Way Academy Trust are also the directors of the charitable company for the purposes of company law. Details of the trustees who served during the period are included in the Reference and administrative details on page 1. b. Members' liability 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. c. Trustees' indemnities Subject to the provisions of the Companies Act, every governor or other officer of the academy shall be indemnified out of the assets of the academy against any liability incurred by them in that capacity in defending any proceedings, whether civil or criminal, in which judgment is given in favour or in which they are acquitted or in connection with any application in which relief is granted to them by the court from liability for negligence, default, breach of duty or breach of trust in relation to the affairs of the academy. d. Method of recruitment and appointment or election of trustees The management of the academy is the responsibility of the Governors who are elected and co-opted under the terms of the Articles of Association and funding agreement as follows: : o The number of Trustees shall be not less than three but shall not be subject to any maximum o The members may appoint by ordinary resolution up to 7 Trustees o The total number of Trustees including the Chief Executive Officer, if they choose to act as trustee, who are employees of the Academy Trust shall not exceed one third of the total number of Trustees o There shall be two Parent Trustees Page 3 CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2020 Structure, governance and management (continued) The term of office for any governor is 4 years. The CEO’s term of office runs parallel with his term of appointment. Subject to remaining eligible to be a particular type of governor, any governor may be reappointed or re-elected. e. Policies adopted for the induction and training of trustees During the period under review, the governors held 6 full governing body meetings. In addition, there were regular meetings covering strategy, curriculum, finance, premises and personnel. The training and induction provided for new governors will depend on their experience. Where necessary an induction will provide training on charity and educational, legal and financial matters. All new governors are given a tour of the academy and the chance to meet with staff and students. All governors are provided with copies of policies, procedures, minutes, budgets, plans and other documents that they will need to understand their role as trustees and directors of the academy. f. Organisational structure The academy has established a management structure to enable its efficient running. The structure consists of two levels: the governors (joint role as governor and trustee for the trust while there is one academy in the trust) and the executive who are the senior leadership team. The governing body has considered its role thoughtfully and decided that the role of the governors is to approve the strategic direction and objectives of the academy and monitor its progress towards these objectives. In performing these functions governors: ensure clarity of vision and ethos. Hold the CEO to account for the educational performance of the academy and its students and the performance management of staff. Governors oversee the financial performance of the academy and make sure its money is well spent. The governing body has approved a scheme of delegation which sets out a statement on the system of internal control, responsibilities, standing orders, a scheme of delegation and terms of reference. The CEO is directly responsible for the day to day running of the academy and is assisted by a senior leadership team. Governors are responsible for setting general policy, adopting an annual plan and budget, monitoring the academy by use of budgets and making major decisions about the direction of the academy, including capital expenditure and senior staff appointments. The CEO assumes the accounting officer role. g. Arrangements for setting pay and remuneration of key management personnel The Academy Leadership team comprises: CEO, Head of Wendover Campus, Head of Prestwood Campus, Head of Bierton Hill Campus, 5 Deputies, 2 Assistant Heads, 1 Behaviour Director, Finance Director, Business Manager, Business Director. Three trustees have been appointed to make decisions concerning pay in relation to the CEO, with the help and guidance of the School Improvement Partner. Recommendations for pay progression are dependent upon meeting objectives. Market forces and headteacher retention determine whether the trustees extend the pay beyond the headteacher group size. The CEO reports to the Pay Review Committee when making recommendations for other members of the senior leadership team. Recommendations are based on self-evaluation and meeting school improvement objectives. The pay committee are responsible for approving pay recommendations and: Page 4 CHILTERN WAY ACADEMY TRUST (A Company Limited by Guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2020 Structure, governance and management (continued) • ensuring appraisal policy is applied fairly • ensuring recommendations are demonstrably evidence based • ensuring recommendations can be justified if challenged • approving evidence based threshold applications • approving leadership pay • notifying HR Officer and financial staff of pay recommendations. If requested, copies of review statements will be made available for the duration of any meetings where pay is reviewed. h. Trade union facility time Relevant union officials Number of employees who were relevant union officials during the period 1 Full-time equivalent employee number - Percentage of time spent on facility time Percentage of time Number of employees 0% - 1%-50% 1 51%-99% - 100% - Percentage of pay bill spent on facility time £ Total cost of facility time 135 Total pay bill 5,114,289 Percentage of total pay bill spent on facility time - % Paid trade union activities Time spent on paid trade union activities as a percentage of total paid facility time - % hours Objectives and activities a.