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  • The Boston Witham Academies Federation

    (A Company Limited by Guarantee)

    The Boston Witham Academies Federation

    Annual Report and Financial Statements

    Period ended 31 August 2013

    Company Registration *mber:

    8 58309

    (England and ales)

  • The Boston Witham Academies Federation

    Annual Report and Financial Statements

    Period ended 31 August 2013

    Contents

    Page

    Reference and Administrative Details 1

    Governance Statement 8 -11

    Independent Auditor's Report and Regularity Report 14 -16

    Notes to the Financial Statements: 20 - 35

    Report of the Board of Directors 2-7

    Statement of Directors' Responsibilities 12

    Statement on Regularity, Propriety and Compliance 13

    Statement of Financial Activities incorporating Income & Expenditure Account 17

    Balance Sheet 18

    Cash Flow Statement 19

  • The Boston Witham Academies Federation Annual Report and Financial Statements Reference and Administrative Details

    Directors of the Trust who served during the year:

    J Coddington Chair Rev S Dowson S Coleman C Shepheard Vice Chair J Curtis A. Reed Executive Head and Accounting Officer J Salmon Head of Academy, Haven High Academy H W Joyce Head of Academy, Carlton Road Academy R Creasey Head of Academy, Staniland Academy L Stanney R Marsland A Prigent T Elmer J McGarel G Kirtley E Hextall

    Clerk to the Directors

    Principal and Registered Office

    Company Registration Number

    Independent Auditor

    Bankers

    Legal Advisors

    Appointed Resigned

    26/07/2012 26/07/2012

    26/07/2012 26/07/2012 26/07/2012 31/812013 26/07/2012 26/07/2012 31/8/2013 26/07/2012 26/07/2012 26/07/2012 26/07/2012 26/07/2012 26/07/2012 26/07/2012 26/07/2012 01/09/2013

    Mrs P Champion

    Marian Campus Marian Road Boston Lincolnshire PE219HB

    8158309

    Duncan & Toplis 15 Chequergate Louth Lincolnshire, LN11 OLJ

    Barclays Bank PLC 52 Market Place Boston Lincolnshire PE21 6LU

    Wilkin Chapman LLP The Maltings 11-15 Brayford Wharf East Lincoln LN5 7 AY

    - 1

  • The Boston Witham Academies Federation Report of the Board of Directors

    The Directors present their annual report together with the financial statements and auditors report for the period ended 31 August 2013

    This report follows the requirements of the Charity Commission's Statement of Recommended Practice (SORP) 2005 and the Charities Act 2011. It also meets the requirements of Companies House and the Education Funding Agency

    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 Directors act as the trustees for the charitable activities of The Boston Witham Academies Federation and are also the directors of the Charitable Company for the purposes of company law.

    Details of the Directors who served throughout the year are included in the Reference and Administrative Details on page 1.

    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.

    Trustees' Indemnities

    The Academy has granted an indemnity to one or more of its Directors against liability in respect of

    proceedings brought by third parties. subject to the conditions set out in the Companies Act 2006.

    Such qualifying third party indemnity provision has a limit of 5million and was at a cost of 3,969

    Principal Activities, Objectives and Aims

    The principal activity of the Trust, as set out in its artides of association and funding agreement with the Secretary of State is the operation of The Boston Witham Academies Federation to create a centre of excellence within and for the community which raises the aspirations and achievement of all stakeholders - an academy which provides support. care, guidance. challenge and empowerment for all.

    The main objectives of the Academy during the period ended 31st August 2013 are summarised

    below:

    * to ensure that every child enjoys the same high quality education in terms of resourcing. tuition and care;

    .. to raise the standard of educational achievement of all pupils;

    .. to improve the effectiveness of the Academy by keeping the curriculum and organisational structure under continual review;

    * to provide value for money for the funds expended; - 2

  • The Boston Witham Academies Federation Report of the Board of Directors (continued)

    * to comply with all appropriate statutory and curriculum requirements; * to maintain links with industry and commerce and the international community; and * to conduct the Academy's business in accordance with the highest standards of integrity,

    probity and openness.

    Public Benefit

    The Directors have reviewed the objectives and activities of the Charity as detailed above and are satisfied that they are for the public benefit as detailed in the Charity Commission guidance note on this subject.

    Board of Directors

    The Board of Directors normally meets four times each year, with its Executive Director and appropriate advisers, to agree plans, programmes and budgets; agree and review policies; and to monitor progress and review performance. The Board met formally four times during the period

    The Board sets the budgets within which the Trust operates. Policies are decided or ratified by the Board. The Board itself monitors the corporate income and expenditure against the agreed budgets to enable control of finance. They have ensured that systems are in place, including operational procedures in order to minimise risk.

    There is no formally agreed induction programme for newly appointed Directors at present though the Executive Director and Chair spend time with new Directors in order to inform them fully of the workings of the Trust and their responsibilities. The induction provided will depend on the new Governor's existing experience, and where necessary will include training on charity and educational legal and financial matters. All new Directors are given a tour of the academy and the chance to meet with staff and students, and are also provided with copies of poliCies, procedures, minutes, accounts, budgets, plans and other documents that they will need to undertake their role as Directors. As there is normally expected to be only a small number of new Directors each year, induction tends to be done informally and is tailored specifically to the individual.

    Organisational Structure

    The main Board of Directors of the Trust has devolved the day-to-day running of each of the constituent academy schools to local governing bodies, and responsibility for financial governance to a Finance and Audit Committee. Details of the membership of each of the boards and committees are set out in the Governance Statement at page 7 .

    Risk Management

    The Directors have assessed the major risks to which the Trust is exposed, in particular those relating to teaching, proviSion of facilities and other operational areas of the Academy, and its finances. The Directors have implemented a number of systems to assess risks that the Trust faces, especially in the operational areas and in relation to the control of finances to minimise risk. This process has included the production of a full risk register which has been formally adopted by the Board, and will be subject to regular review and if necessary updating on at least an annual basis. Where significant financial risk still remains they have ensured they have adequate insurance cover. The Directors are confident that the Trust has an effective system of internal financial controls and this is explained in more detail in a separate section.

    - 3

  • The Boston Witham Academies Federation Report of the Board of Directors (continued)

    Connected Parties

    The Directors are not aware of any connected or related party that would require disclosure.

    Responsible Officer

    We confirm that the Responsible Officer (RO) function has been fully delivered by the Trust's auditors Messrs Duncan & Toplis. in line with the requirements of the Financial Handbook.. The issues identified have been addressed and formed part of the RO Report. which was forwarded to the Board of Directors, and any recommendations made therein have been acted upon.

    Performance and Achievements

    The Boston Witham Academies Federation is a Multi Academy Trust (MAT) which includes Haven High Academy, Carlton Road Academy. Staniland Academy, Haven High Academy Sixth Form on the site of the former St Bede's Catholic Science College. The Board of Directors are committed to ensuring that, through this partnership, all children and students receive the care guidance and support necessary to ensure the very best education for children from three to nineteen years of age.

    Key performance indicators in respect of EYFS through to Key Stage 5 data are available on each academy website as well as calendars of events and all federation policies. The Directors have considered the ongoing Companies' Act requirement to publish financial KPl's and are of the opinion that being so recently established and converted there are no financial KPl's of value to report in respect of this period.

    Major projects of the past twelve months have includ

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