Company Registration Number: 08398143 THE FULHAM CROSS ACADEMY TRUST (formally The Fulham College Academy Trust until 1 September 2020) (A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 THE FULHAM CROSS ACADEMY TRUST (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details 1 - 3 Directors' Report 4 - 20 Governance Statement 21 - 28 Statement on Regularity, Propriety and Compliance 29 Statement of Directors' Responsibilities 30 Independent Auditors' Report on the Financial Statements 31 - 33 Independent Reporting Accountant's Assurance Report on Regularity 34 - 35 Statement of Financial Activities Incorporating Income and Expenditure Account 36 Balance Sheet 37 Statement of Cash Flows 38 Notes to the Financial Statements 39 - 60 THE FULHAM CROSS ACADEMY TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2020 Members During the 2019-20 financial year the structure of the Members group was changed in line with the most recent Education and Skills Funding Agency (‘ESFA’) model for multi-academy trusts. The reform was made to reflect the ESFA recommendations and as part of the strategy for change approved by the Regional Schools Commissioner. The new Members board came into being on 16th October 2019. The Members of the Trust up to 16th October 2019 were D Wright, S Brooks, D Fox and T Scott. With effect from 16th October 2019 the new Members board comprised of P Barton, P Alford, S Holder and D McNamara. Directors S English (appointed 16 October 2019) T Barrett J Medina G Barlow D Wright, Chair of Directors P Barton S Hannaford R Leighton A McCracken S Ahmed S Holder (resigned 16 October 2019) E Porter D Fox, Head of School of Fulham Cross Girls School ('FCGS') S Brooks, Executive Principal designate*, Head of School of Fulham College Boys School (FCBS)** & Accounting Officer) D McNamara (resigned 16 October 2019) T Polglase T Kelly (appointed 16 October 2019) C Malissard (appointed 16 October 2019) C Easton S Maheswaran (appointed 1 July 2020) (*) The role of Executive Principal was shared between the Acting Headteachers of the two Trust schools, S Brooks and D Fox, from August 2018 until September 2019. With effect from September 2019, S Brooks was appointed as Executive Principal designate of the Trust. In this report references to the ‘Executive Principal’ include references to the Executive Principal designate. (**) FCBS became Fulham Cross Academy (‘FCA’), a mixed STEM specialist school with an expanded sixth form curriculum, with effect from September 2020. Company registered number 08398143 Company name The Fulham Cross Academy Trust Page 1 THE FULHAM CROSS ACADEMY TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE ACADEMY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020 Advisers (continued) Principal and registered office Fulham Cross Girls' School Munster Road London SW6 6BP Page 2 THE FULHAM CROSS ACADEMY TRUST (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE ACADEMY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020 Advisers (continued) Company secretary Timothy Scott Senior leadership team S Brooks, Executive Principal FCAT & Head of School of FCBS A Jones, Deputy Headteacher (FCGS) V Tully, Deputy Headteacher (FCGS) L Grainger, Deputy Headteacher (FCGS) C Drew, Assistant Headteacher (FCGS) A Thorpe, Assistant Headteacher (FCGS) H Bristow, Assistant Headteacher (FCGS) T McLaughlin, Business Manager (FCGS) to March 2020 B Beason, Business Manager (FCGS) from July 2020 S Powell, Deputy Headteacher (FCBS) C Johnson, Deputy Headteacher (FCBS) N Yates, Assistant Headteacher (FCBS) M McDermott, Assistant Headteacher (FCBS) D Dotting, Assistant Headteacher (FCBS) V Naidoo Assistant Headteacher (FCBS) J Medina Assistant Headteacher (FCBS) R Jones Assistant Headteacher (FCBS) L Robins, Business Manager (FCBS) Independent auditors Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG Bankers Lloyds Bank Plc 417 North End Road Fulham London SW6 1NS Solicitors Browne Jacobson Mowbray House Castle Meadow Road Nottingham NG2 1BJ Page 3 THE FULHAM CROSS ACADEMY TRUST (A Company Limited by Guarantee) DIRECTORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2020 The Directors present their annual report together with the financial statements and auditor's report of The Fulham Cross Academy Trust (the ‘Trust’) for the year 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. Objectives and Activities a. Objects and aims The Company’s objects (“the Objects”) are specifically restricted to the following: (a) to advance for the public benefit education in the United Kingdom, in particular but without prejudice to the generality of the foregoing by establishing, maintaining, carrying on, managing and developing schools offering a broad and balanced curriculum; (b) to promote for the benefit of the inhabitants of the London Borough of Hammersmith and Fulham and its surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, or for the public at large in the interests of social welfare and the object of improving the condition of life of the said inhabitants. Page 4 THE FULHAM CROSS ACADEMY TRUST (A Company Limited by Guarantee) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020 b. Strategies and activities The schools are working towards the following strategic targets: The Trust includes Fulham Cross Girls’ School (‘FCGS’) and Fulham Cross Academy (‘FCA’), a mixed, STEM specialist school. Until September 2020 FCA was Fulham College Boys’ School (‘FCBS’); FCA has also expanded the Sixth Form curriculum with effect from September 2020. Following a review by the Directors of existing secondary education provision in the London Borough of Hammersmith & Fulham, which identified the need for a mixed school with a STEM focus in the Borough to leverage off the growing number of science and technology-focussed businesses and organisations moving to or expanding in the White City area of the Borough, a consultation was held in relation to FCBS and a submission for a change of status was presented and accepted by the Regional Schools Commissioner in June 2019. During the 2019/20 academic year the relaunched Fulham Cross Academy was promoted to Year 6 students in Hammersmith and Fulham and neighbouring boroughs for a mixed intake in Year 7 only. The enhanced Sixth Form offer which includes STEM A Levels was also promoted. During 2019/20 the Executive Principal developed a three-year Strategic Plan for the Trust under the broad headings of consolidate, develop, growth. Seven strategic targets were also developed. Strategic Targets 1. All learners experience a transformative ‘Quality of Education’ A knowledge rich curriculum meets the needs of all learners Teaching and Learning is of the highest standard Outcomes and progress are above the national average for both school contexts 2. Developing young people of the future - ‘Personal Development’ Learners have excellent levels of social responsibility Learners are exposed to and take advantage of first rate STEAM / Careers Information Advice and Guidance (CIAG) programmes Enterprise and the United Nations Climate Change (UNCC) curriculum is part of learner culture 3. Securing excellent ‘Behaviour and Attitudes’ for all learners Safeguarding policy and procedures continue to be exemplary Learners are self-regulating, resilient and adaptable to change Our staff body supports and challenges as required in our fully inclusive schools 4. Ensuring financial viability Growing the Trust in terms of learner numbers and other educational settings Providing high quality environments which enable and support the delivery of first class education across the Trust A realistic financial model that invests all it can in learners and is fully compliant with national policy 5. Dynamic and focused leadership is rigorous and robust at all levels across the Trust Ensuring that the Trust has sufficient leadership capacity to maintain, develop and grow in accordance with its strategic aims Ensuring that the Board of Directors acts in the best interests of the Trust and has governance Page 5 THE FULHAM CROSS ACADEMY TRUST (A Company Limited by Guarantee) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020 arrangements that demonstrate vision, clarity of relationships, effective oversight and sustainability whilst achieving the greatest possible economies and value to the Trust. 6. Professional Growth ‘Growing a workforce for an evolving world’ Sourcing and delivering CPD / training so that we have leaders at every level Developing flexible working models to create a sustainable workforce Utilising progressive ICT across the Trust that supports all the school community 7. Marketing the Trust as centre of excellence rooted in our vision The high quality Fulham Cross brand permeates the day to day experience of our school community Building our strategic partnerships to give our students a unique experience beyond traditional learning Directors are able to contribute to the student experience by bringing in high profile individuals to enhance the student experience c. Public benefit The