Company Registration Number: 08545109 (England & Wales) THE TED WRAGG MULTI ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019 THE TED WRAGG MULTI ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Reference and Administrative Details 1 - 2 Trustees' Report 3 - 16 Governance Statement 17 - 22 Statement on Regularity, Propriety and Compliance 23 Statement of Trustees' Responsibilities 24 Independent Auditors' Report on the Financial Statements 25 - 27 Independent Reporting Accountant's Report on Regularity 28 - 29 Statement of Financial Activities Incorporating Income and Expenditure Account 30 - 31 Balance Sheet 32 Statement of Cash Flows 33 Notes to the Financial Statements 34 - 69 THE TED WRAGG MULTI ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS Members Exeter College University of Exeter Chair of the Trust Vice Chair of the Trust Trustees Robert Bosworth, Chair1,2 David Hall, Vice Chair2,3 Andrew Mulcock (appointed 13 February 2019)3 Philip Bostock1 Rosie Denham (resigned 18 September 2019)3 Elaine Hobson3 Richard Jacobs1 Moira Marder, Chief Executive Officer1,2,3 Rebecca Mitchell1 Lee-Elliot Major (appointed 3 July 2019) Sarah O'Meara (appointed 12 December 2018)3 Saxon Spence3 Alex Walmsley1,2 Linda Donellan (resigned 11 June 2019) 1 Audit, Finance and Resources Committee 2 Pay and Conditions Committee 3 Performance and Standards Committee Company registered number 08545109 Company name The Ted Wragg Multi Academy Trust Principal and registered Cranbrook Education Campus office Tillhouse Road Cranbrook Exeter EX5 7EE Company secretary Alison Layton-Hill Accounting Officer Moira Marder Senior management team Moira Marder, Chief Executive Officer Jon Lunn, Director of Education and Performance Josie Medforth, Director of Operations Sue Pym, Director of Finance Alison Layton-Hill, Company Secretary Independent auditors Bishop Fleming LLP Chartered Accountants Statutory Auditors 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX1 3QS Page 1 THE TED WRAGG MULTI ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2019 Bankers Lloyds Bank Exeter EX4 3NL Solicitors Michelmores LLP Woodwater House Pynes Hill Exeter EX2 5WR Page 2 THE TED WRAGG MULTI ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2019 The Trustees present their annual report together with the financial statements and auditors’ report of the charitable company for the year ended 31 August 2019. The annual report serves the purpose of both a Trustees’ report, and a Directors’ report under company law. The Trust operates 3 primary academies, 3 secondary academies and 1 all through academy in Exeter . It's academies have a combined pupil capacity of 5,883 and had a roll of 4,062 in the school census on 4 October 2018. The Trust is supporting a number of other schools (2,839 pupils) through partnership arrangements (3 secondaries and 1 primary), with the potential to join the Trust. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution 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 Ted Wragg Multi-Academy Trust and currently includes: Cranbrook Education Campus Exwick Heights Primary School Isca Academy St James School West Exe School Whipton Barton Infants and Nursery School Whipton Barton Juniors School The Trustees of The Ted Wragg Multi Academy Trust are also the directors of the charitable company for the purposes of company law. Details of the Trustees who served throughout the year, except as noted, are included in the Reference and Administrative Details on pages 1 to 2. 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 £Nil, for the debts and liabilities contracted before they ceased to be a member. Page 3 THE TED WRAGG MULTI ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2019 Trade Union Facility time Under the provisions of the Trade Union (Facility Time Publication Requirements) Regulations 2017, the Trust must publish information set out in Schedule 2 of the Regulations. The information to be published consists of the following: Relevant union officials Number of employees who were relevant union Full-time equivalent employee number officials during the relevant period * * * We have no official representative notifications from employees or Professional Associations for this reporting period. Percentage of time spent on facility time Percentage of time Number of employees 0% 0 1%-50% 0 51%-99% 0 100% 0 Percentage of pay bill spent on facility time Provide the total cost of facility time £3,120.50 Provide the total pay bill £15,553,635.05 Provide the percentage of the total pay bill spent 0.02% on facility time, calculated as: (total cost of facility time / total pay bill) x 100 Paid trade union activities Time spent on paid trade union activities as a Nil percentage of total paid facility time hours calculated as: Note: No facilities time is allocated to support the work of any employees, this support is offered by (total hours spent on paid trade union activities regional officials supported by a facilities by relevant union officials during the relevant arrangement administered by Devon County period / total paid facility time hours) x 100 Council on behalf of the Trust. Trustees' Indemnities 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 business. The insurance provides unlimited cover on any one claim. TRUSTEES Method of Recruitment and Appointment or Election of Trustees The Academy Trust shall have the following trustees as set out in its Articles of Association and funding agreement: • up to 11 trustees who are appointed by members of the Ted Wragg Multi Academy Trust. • the Chief Executive Officer who is treated for all purposes as being an ex officio trustee. • Additional co-opted trustees appointed by the Board of Trustees. Page 4 THE TED WRAGG MULTI ACADEMY TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2019 Trustees are appointed for a four year period, except that this time limit does not apply to the Chief Executive Officer. Subject to remaining eligible to be a particular type of trustee, any trustee can be re-appointed or re- elected. When appointing new trustees, the Board will give consideration to the skills and experience mix of existing trustees in order to ensure that the Board has the necessary skills to contribute fully to the Multi Academy Trust’s development. Policies and Procedures Adopted for the Induction and Training of Trustees The training and induction provided for new trustees will depend upon their existing experience. Where necessary, induction will provide training on charity, educational, legal and financial matters. All trustees are provided with access to policies, procedures, minutes, accounts, budgets, plans and other documents that they will need to undertake their role as directors. As there are normally only two or three new trustees a year, induction tends to be done informally and is tailored specifically to the individual. Trustees are kept updated through the annual conference, which includes updates on relevant developments. Organisational Structure The key elements of the governance structure are: Board of Trustees & committees The Board of Trustees currently meets five times a year. The Board establishes an overall framework for the governance of the Multi-Academy Trust and determines, membership, terms of reference and procedures of committees and other groups. It receives reports including policies from its committees for ratification. It monitors the activities of the committees through the minutes of their meetings. The Board may from time to time establish working groups to perform specific tasks over a limited timescale. There are three main committees as follows: • Audit, Finance and Resources Committee. This meets at least five times a year and is responsible for monitoring, evaluating and reviewing policy and performance in relation to financial management; compliance with reporting and regulatory requirements; receiving reports from the internal auditor and drafting the annual budget including setting staffing levels. It also incorporates the role of an audit committee. • Performance and Standards Committee. This meets once a term to monitor, evaluate and review academy policy, practice and performance in relation to curriculum planning, communications, target setting and assessment, examinations and all pastoral issues. • Pay and Conditions Committee. The following decisions are reserved to the Board of Trustees: to review and approve the Trust governance structure, to agree trustee appointments for ratification by members and to approve the Trust Strategic Plan including the Trust vision and values. The Trustees are responsible for setting general policy, adopting an