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2020-08-31-accounts

Page
Governors'
report and		 strategic report 1-13
Independent
auditors'		 report 14-16
Statement offinancial activities 17
Balance sheet 18
Cash flow statement 19
Accounting
policies		 20- 22
Notes to the financial statements 23-32

Principal ofthe Schools ofthe Schools at Somerhill and Mr D 8 Sinclair
Head ofYardley Court
Head ofDerwent Lodge Mrs H M Hoffmann
Head ofSomerhill Pre-Prep Mrs K McLauchlan
Vice Principal Mr R M Raistrick
Business Iylanager Mrs C Morey (appointed 7 October 2019)
Address and registered office Somerhill
Tonbridge
Kent
TN11 ONJ
Solicitors Veale Wasbrough Vizards
Orchard
Court
Orchard
Lane
Bristol
8515WS
Auditors Saffery Champness LLP
?1Queen Victoria Street
London
EC4V4BE
Insurance brokers Towergate
Risk Solutions
Towergate
House
Chaucer Business Park
Thanet Way
Whitstable
Kent
CT5 3FE
Bankers Barclays Bank pic
105 High Street
Tonbridge
Kent
TN9 1DJ
National
Westminster		 Bank Pic
130 High Street
Tonbridge
Kent
TNO 1DE

Unrestricted Restricted Total Total
Funds Funds 2020 2019
Notes f f f f
Income and endowments from:
Charitable
activities
School fees receivable 6,786,759 6,786,759 7,474,225
Ancillary trading income 251,995 251,995 499,016
Government
grants —coronavirus		 283,836 283,836
job retention
scheme
Other trading activities
Lettings income 59,611 59,611 68,874
Investments 15,033 15,033 22,289
Donations 3,928 3,928 19,815
Other income 3,500
Total income 7,117,326 283,836 7,401,162 8,087,719
Expenditure
on:
Raising funds
Financing costs 14,075 14,075 12,660
Fundraising
and		 development 34,368 34,368 78,031
Total deductible costs 48,443 48,443 90,691
Charitable
activities
Education 7,080,576 283,836 7,364,412 7,699,006
Total expenditure 7,129,019 283,836 7,412,855 7,789,697
Net income and net movement in
funds (11,693) (11,693) 298,022
Fund balances brought forward at
1September 2019 20,251,894 20,251,894 19,953,872
Fund balances carried forward at
31August 2020 20,240,201 20,240,201 20,251,894

2020 2019
Notes
Fixed assets
Tangible fixed assets
Freehold
land and building		 15,640,541 15,870,143
Fixtures, fittings and equipment 632,655 605,191
Motor vehicles 61,272 38,080
16,334,468 16,513,414
Investments 100 100
16,334,568 16,513,514
Current assets
Debtors 10 2,296,565 2,174,534
Cash and bank and in hand 5,104,080 5,387,727
7,400,645 7,562,261
Creditors: amounts falling due
within one year 11 (3,418,203) (3,554,132)
Net current assets 3,982,442 4,008,129
Total assets less current
liabilities 20,317,010 20,521,643
Creditors: amounts falling due
after more than one year 12 (76,809) (269,749)
Net assets 20,240,201 20,251,894
Reserves
Unrestricted
funds		 14 20,240,201 20,251,894
Total funds 20,240,201 20,251,894

Note 2020 2020 2019
f f
Cash flows from operating activities
Net cash provided
by operating
activities 167,990 1,107,454
Cash flows from investing
activities
Payments
for tangible fixed		 assets (203,673) (473,468)
Proceeds on sale oftangible fixed 3,500
assets
Interest received 15,033 22,289
Net cash used in investing activities (188,640) (447,679)
Net cash inflow before financing (20,650) 659,775
Cash flows from financing
activities:
Fees in advance scheme
New fees in advance
money		 50,088 578,654
Amounts
utilised		 (313,085) (336,629)
Net cash (used in)/ provided
by
financing
activities		 (262,997) 242,025
Change
in cash and cash
equivalents
in the reporting		 period (283,647) 901,800
Cash and cash equivalents
at the
beginning
ofthe reporting
period		 5,387,727 4,485,927
Cash and cash equivalents at the
end ofthe reporting
period		 16 5,104,080 5,387,727
Note A- Reconciliation
ofnet income		 to net cash provided by operating
activities
2020 2019
f f
Net income for the reporting
period		 (11,693) 298,022
Adjustments
for:
Depreciation
charges		 467,473 424,015
Profit on sale of fixed assets (3,500)
Interest receivable (15,033) (22,289)
(Increase)/ decrease
in debtors		 (122,031) 195,503
(Decrease) / increase
in creditors		 (150,726) 215,703
Net cash provided
by operating		 activities 167,990 1,107,454

School fees receivable School fees receivable School fees receivable
2020 2019
f f
Fees 7,345,143 7,947,464
Less:
Scholarships, assisted places and fee discounts (558,384) (473,239)
6,786,759 7,474,225
The above awards were all made to individuals. These include tuition
scholarships,		 discretionary
awards, assisted places and sibling discounts made to 227 (2019:232) individuals.
Ancillary
trading income
2020 2019
f f
Income from fundraising events 40,120 83,681
Other educational
income
Extras 201,125 404,135
Entrance and registration fees 10,750 11,200
251,995 499,016
Expenditure
2020 2019
f f
Expenditure includes:
Depreciation —owned assets 467,473 424,015
Operating lease rentals —equipment 71,788 104,682
Auditor's
remuneration		 (excl VAT) - for audit 11,100 10,950
-other services
2,525		 3,383
Staff costs
2020 2019
f f
M/ages and salaries 3,902,745 3,973,498
Social security costs 373,051 381,842
Pension contributions 674,572 482,633
4,950,368 4,837,973

urrent year analysis
Staff costs Other Depreciation 2020 2019
Total Total
f f
Raising funds
Financing costs 14,075 14,075 12,660
Fundraising
events		 34,368 34,368 78,031
48,443 48,443 90,691
Charitable
activities
Teaching costs 3,895,863 284,836 229,825 4,410,524 4,549,367
Welfare costs 328,156 328,156 443,334
Premises costs 333,375 965,224 237,648 1,536,247 339,047
Support costs (Note 6) 721,130 351,532 1,072,662 1,071,712
Governance
costs (Note 7)		 16,823 16,823 16,258
4,950,368 1,946,571 467,473 7,364,412 7,699,006
Total expenditure 4,950,368 1,995,014 467,473 7,412,855 7,789,697

Staff costs Staff costs Other Depreciation 2019
Total
f f f
Raising funds
Financing costs 12,660 12,660
Fundraising
events		 78,031 78,031
90,691 90,691
Charitable
activities
Teaching costs 3,811,034 551,965 186,368 4,549,367
Welfare costs 443,334 443,334
Premises costs 330,693 1,049,995 237,647 1,618,355
Support costs (Note 6) 696,246 375,466 1,071,712
Governance
costs (Note		 7) 16,258 16,258
4,837,973 2,437,018 424,015 7,699,006
Total expenditure 4,837,973 2,527,709 424,015 7,789,697
Support costs
2020 2019
f f
Staff costs 721,130 696,246
Other expenses 339,529 241,924
Travel expenses 1,286 55,734
Legal and professional fees 44,788 41,515
Movement
in provision		 against debts {34,071) 36,293
1,072,662 1,071,712
Governance
costs
2020 2019
f f
Audit and statutory accounts fee 13,625 13,230
Teachers'
pension scheme audit		 fee 2,100 1,135
Governors'
indemnity		 insurance 1,098 1,893
16,823 16,258

angible fixed assets
School Other Equipment Motor Total
freehold freehold fixtures vehicles
land and land and and fittings
buildings buildings
E
Cost or valuation
1September 2019 13,418,642 3,342,000 1,073,419 118,441 17,952,502
Additions 8,046 250,547 29,934 288,527
Disposais (47,423) (47,423)
31August 2020 13,426,688 3,342,000 1,276,543 148,375 18,193,606
Depreciation
1September
2019		 872,987 17,512 468,228 80,361 1,439,088
Charge for the year 228,892 8,756 223,083 6,742 467,473
Disposais (47,423) (47,423)
31August 2020 1,101,879 26,268 643,888 87,103 1,859,138
Net book values
31August 2020 12,324,809 3,315,732 632,655 61,272 16,334,468
31August 2019 12,545,655 3,324,488 605,191 38,080 16,513,414

Fixed asset inv estments
Shares
f
Investment
in		 subsidiary
company		 100
Cost and net book value
At 1September 2019 and 31August 2020 100
In the opinion of the Governors the aggregate value of the School's
investment		 in subsidiary
undertakings
is not less than the amount
included		 in the balance sheet.
The School holds more than 10%ofthe share capital ofthe following
company:
Subsidiary
undertaking		 Country of registration Class Shares held
or incorporation
Somerhill
Enterprises		 Limited England and Wales Ordinary 100
The aggregate amount ofcapital and reserves and the result ofthis undertaking for the year ended
31August 2020 was as follows:
Capital
and		 Result for
reserves
f		 the year
f
Somerhill
Enterprises		 Limited Dormant 100
10. Debtors
2020 2019
f f
Trade debtors 2,028,754 1,994,628
Other debtors 67,881 4,177
Prepayments and accrued income 199,930 175,729
2,296,565 2,174,534

Creditors: Amounts
falling due		 within one year
2020 2019
Trade creditors 335,806 291,438
Other taxation and social security costs 120,674 94,094
Accruals 92,643 227,629
Deferred income 2,404,958 2,448,628
Advance fees 186,589 256,646
Other creditors 277,433 235,596
Amounts payable to subsidiary company 100 100
3,418,203 3,554,132

Fees paid in advan ce are analysed as follows:
2020 2019
f f
Balance at 1September 2019 526,394 284,369
New amounts
paid		 50,088 578,654
576,482 863,023
Amounts utilised in the payments offees (313,084) (336,629)
Balance at 31August 2020 263,398 526,394
Creditors: Amounts falling due after more than one year
2020 2019
f f
Fees in advance 76,809 269,749

At31August 2020the School was committed School was committed School was committed School was committed to make minimum lease payments in respect of non-
cancellable
operating		 leases as follows.
2020 2019
f f
Amounts
payable:
Within one year 40,541 45,627
In two to five years 84,571 68,325
Total commitment 125,112 113,952
All leases relate to amounts payable in respect of equipment.
Statement offunds
Current year
Restricted Designated Unrestricted Total
f property
f		 general
f
At 1September 2019 12,545,655 7,706,239 20,251,894
Surplus/(deficit)
for		 year (220,846) 209,153 (11,693)
At 31August 2020 12,324,809 7,915,392 20,240,201
Prior year
Restricted Designated Unrestricted Total
f property
f		 general
f
At 1September 2018 12,701,239 7,252,633 19,953,872
Surplus/(deficit)
for		 year (155,584) 453,606 298,022
At 31August 2019 12,545,655 7,706,239 20,251,894

15. Analysis of assets between funds
15.1 Current year
Tangible Investments Net current Non-current Total
fixed assets/ liabilities
assets (liabilities)
f f
Unrestricted funds
General 4,009,659 100 3,982,442 (76,809) 7,915,392
Designated fund - property 12,324,809 12,324,809
16,334,468 100 3,982,442 (76,809) 20,240,201
15.2 Prior year
Tangible investments Net current Non-current Total
fixed assets/ liabilities
assets (liabilities)
f f
Unrestricted funds
General 3,967,759 100 4,008,129 (269,749) 7,706,239
Designated fund - property 12,545,655 12,545,655
16,513,414 100 4,008,129 (269,749) 20,251,894
16. Net funds
16.1 Current year
At start of Cash— At end of
year
f		 flows
f		 year
f
Cash 5,387,727 {283,647) 5,104,080
16.2 Prior year
At start of Cash— At end of
year
f		 flows
f		 year
f
Cash 4,485,927 901,800 5,387,727

Prior year Statement of of Financial Activities Financial Activities
Unrestricted Restricted Total
Funds Funds 2019
f f f
Income and endowments from:
Charitable
activities
School fees receivable 7,474,225 7,474,225
Ancillary trading
income		 499,016 499,016
Other trading activities
Non-ancillary
trading		 income 68,874 68,874
Investments 22,289 22,289
Donations 7,584 12,231 19,815
Other income 3,500 3,500
Total income 8,075,488 12,231 8,087,719
Expenditure
on:
Raising funds
Financing costs 12,660 12,660
Fundraising
and development		 78,031 78,031
Total deductible
costs		 90,691 90,691
Charitable
activities
Education 7,686,775 12,231 7,699,006
Total expenditure 7,777,466 12,231 7,789,697
Net income and net movement in funds 298,022 298,022
Fund balances brought forward at
1September 2018 19,953,872 19,953,872
Fund balances carried forward at
31August 2019 20,251,894 20,251,894