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||**Page**|
|---|---|
|**Reference and administrative details of the charity, its trustees and advisers**|1−3|
|**Governors' report**|4−13|
|**Independent auditors' report**|14−16|
|**Statement of financial activities**|17|
|**Balance sheet**|18|
|**Statement of cash flows**|19|
|**Notes to the financial statements**|20−40|





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|||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|---|
|||**funds**|**funds**|_funds_|
|||**2020**|**2020**|_2019_|
||**Note**|**£**|**£**|_£_|
|**INCOME FROM:**|||||
|Charitable activities|2|**5,589,655**|**5,589,655**|_6,100,942_|
|Other trading activities|4|**69,706**|**69,706**|_82,860_|
|Investments|5|**27,840**|**27,840**|15,589|
|Other income|3|**94,406**|**94,406**|−|
|**TOTAL INCOME**||**5,781,607**|**5,781,607**|_6,199,391_|
|**EXPENDITURE ON:**|||||
|Raising funds|6|**95,443**|**95,443**|_116,794_|
|Charitable activities|8,7|**5,437,550**|**5,437,550**|_5,430,686_|
|**TOTAL EXPENDITURE**|**11**|**5,532,993**|**5,532,993**|_5,547,480_|
|**NET INCOME BEFORE OTHER RECOGNISED GAINS AND**|||||
|**LOSSES**||**248,614**|**248,614**|651,911|
|**NET MOVEMENT IN FUNDS**||**248,614**|**248,614**|_651,911_|
|**RECONCILIATION OF FUNDS:**|||||
|Total funds brought forward||**7,981,180**|**7,981,180**|_7,329,269_|
|||**8,229,794**|**8,229,794**|_7,981,180_|
|**TOTAL FUNDS CARRIED FORWARD**|||||





||||**2020**||_2019_|
|---|---|---|---|---|---|
||**Note**|||||
|**FIXED ASSETS**||||||
|Tangible assets|17||**8,861,789**||_9,054,322_|
|**CURRENT ASSETS**||||||
|Debtors|18|**1,969,773**||_2,091,617_||
|Cash at bank and in hand||**3,813,297**||3,236, 772||
|||**5,783,070**||_5,328,389_||
|**CREDITORS:** amounts falling due within||||||
|one year|19|**(3,421,825)**||_(3,273,410)_||
|**NET CURRENT ASSETS**|||**2,361,245**||_2,054,979_|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**11,223,034**||_11,109,301_|
|**CREDITORS:** amounts falling due after||||||
|more than one year|20||**(2,993,240)**||_(3,128,121)_|
|**NET ASSETS**|||**8,229,794**||_7,981,180_|
|**CHARITY FUNDS**||||||
|Unrestricted funds|21||**8,229,794**||_7,981,180_|
|**TOTAL FUNDS**|||**8,229,794**||_7,981,180_|



## 



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|||**2020**|_2019_|
|---|---|---|---|
||**Note**|||
|**Cash flows from operating activities**||||
|Net cash provided by operating activities|22|**891,813**|_1,003,401_|
|**Cash flows from investing activities:**||||
|Dividends, interest and rents from investments||**27,840**|_15,589_|
|Purchase of tangible fixed assets||**(146,747)**|_(86,937)_|
|**Net cash used in investing activities**||**(118,907)**|_(71,348)_|
|**Cash flows from financing activities:**||||
|Repayments of borrowings||**(196,381)**|_(3,513,976)_|
|Cash inflows from new borrowing|||_3,350,000_|
|**Net cash used in financing activities**||**(196,381)**|_(163,976)_|
|**Change in cash and cash equivalents in the year**||**576,525**|_768,077_|
|Cash and cash equivalents brought forward||**3,236,772**|_2,468,695_|
|**Cash and cash equivalents carried forward**||**3,813,297**|3, 236, 772|





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|**INCOME FROM CHARITABLE ACTI**|**VITIES**|||
|---|---|---|---|
||**Unrestricted**|**Total**|_Total_|
||**funds**|**funds**|_funds_|
||**2020**|**2020**|_2019_|
||**£**|**£**|**£**|
|Tuition fees|**5,195,593**|**5,195,593**|_5,459,594_|
|School Activities|**371,102**|**371,102**|_609,668_|
|Other income|**22,960**|**22,960**|_31,680_|
||**5,589,655**|**5,589,655**|_6,100,942_|
|Total _2019_|_6,100,942_|_6,100,942_||



## 

|**ANALYSIS OF TUITION FEES**|||
|---|---|---|
||**2020**|_2019_|
||**£**|£|
|Gross fees|**5,991,345**|_5,977,255_|
|Discounts and staff allowances|**(347,321)**|_(70,623)_|
|Scholarships|**(121,888)**|_(96,320)_|
|Bursaries|**(326,543)**|_(350,718)_|
|Total|**5,195,593**|_5,459,594_|





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||**2020**|_2019_|
|---|---|---|
|After school club|**12,848**|_24,400_|
|Breakfast club|**5,704**|_8,255_|
|Visits and trips|**63,169**|_170,181_|
|Examination fees|**20,736**|_26,698_|
|Registration fees|**23,499**|_21,900_|
|Fee deposits surrendered|**4,227**|_3,500_|
|Catering income|**240,919**|_354,734_|
|Total|**371,102**|_609,668_|



||**2020**|**2020**|_2019_|_2019_|
|---|---|---|---|---|
||**No.**|£|_No._|_£_|
|Senior School|**321**|**4,925**|_314_|_4,710_|
|Junior School|**80**|**4,048**|99|3,892|
|Early Years|**21**|**3,689**|_32_|_3,548_|
|Total|**422**||_445_||



## 

|||||||_As _|_restated_|
|---|---|---|---|---|---|---|---|
|||||**Unrestricted**|**Total**||Total|
|||||**funds**|**funds**||_funds_|
|||||**2020**|**2020**||_2019_|
|Job|Retention|Scheme|grants|**94,406**|**94,406**|||
|||||**94,406**|**94,406**|||





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|**4.**|**OTHER TRADING ACTIVITIES**||||
|---|---|---|---|---|
|||**Unrestricted**|**Total**|_Total_|
|||**funds**|**funds**|_funds_|
|||**2020**|**2020**|_2019_|
|||**£**|**£**|_£_|
||Lettings income|**69,706**|**69,706**|_82,860_|
||_Total 2019_|_82,860_|_82,860_||
|**5.**|**INVESTMENT INCOME**||||
|||**Unrestricted**|**Total**|_Total_|
|||**funds**|**funds**|_funds_|
|||**2020**|**2020**|_2019_|
|||_£_|_£_|_£_|
||Interest receivable|**27,840**|**27,840**|_15,589_|
||_Total 2019_|_15,589_|_15,589_||
|**6.**|**COSTS ASSOCIATED WITH RAISING FUNDS**||||
|||**Unrestricted**|**Total**|Total|
|||**funds**|**funds**|_funds_|
|||**2020**|**2020**|_2019_|
|||**£**|**£**|£|
||Bank interest and rate cap premium|**95,443**|**95,443**|_116,794_|
||_Total 2019_|_116,794_|_116,794_||





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||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2020**|**2020**|_2019_|
||**£**|**£**|_£_|
|School tuition|**5,052,920**|**5,052,920**|_4,853,631_|
|School activities|**331,190**|**331,190**|_525,343_|
||**5,384,110**|**5,384,110**|_5,378,974_|
|_Total 2019_|_5,378,974_|_5,378,974_||



## 

|**GOVERNANCE COSTS**||||
|---|---|---|---|
||**Unrestricted**|**Total**|Total|
||**funds**|**funds**|_funds_|
||**2020**|**2020**|_2019_|
||**£**|**£**|_£_|
|Auditors' remuneration|**17,284**|**17,284**|_16,712_|
|Professional fees|**15,500**|**15,500**|_20,000_|
|Legal fees|**20,656**|**20,656**|_15,000_|
||**53,440**|**53,440**|_51,712_|





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|**DIRECT COSTS**|||||
|---|---|---|---|---|
||**School**|**School**|**Total**|_Total_|
||**Operations**|**activities**|**2020**|_2019_|
||**£**|**£**|**£**|_r_|
|After school club|−|**204**|**204**|_615_|
|Breakfast club||**3,115**|**3,115**|_4,210_|
|Catering expenditure|−|**207,777**|**207,777**|_322,738_|
|Visits and trips|−|**98,677**|**98,677**|_169,693_|
|Exam fees|−|**21,417**|**21,417**|_28,086_|
|Repairs & maintenance|**254,610**||**254,610**|_264,772_|
|Rates|**33,909**||**33,909**|_35,871_|
|Utilities|**88,777**||**88,777**|97,801|
|Insurance|**45,836**||**45,836**|_41,965_|
|Advertising|**1,250**||**1,250**|_250_|
|Books & other academic||||**.**|
|resources|**100,697**||**100,697**|/23,759|
|ICT development|**7,158**||**7,158**|_8,558_|
|Legal expenses|**6,658**||**6,658**|_3,569_|
|Office expenses|**7,665**||**7,665**|_12,941_|
|Professional expenses|**7,273**||**7,273**|_79,605_|
|Training & subs|**10,534**||**10,534**|_16,601_|
|Bank and credit card charges|**2,551**||**2,551**|_26,462_|
|Wages and salaries|**2,362,484**||**2,362,484**|_2,306,650_|
|National insurance|**247,497**||**247,497**|_239,553_|
|Pension cost|**530,397**||**530,397**|_371,250_|
|Depreciation|**339,280**||**339,280**|_323,224_|
||**4,046,576**|**331,190**|**4,377,766**|_4,478,173_|
|_Total 2019_|_3,952,831_|_525,342_|_4,478,173_||





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||**School**|**Total**|_Total_|
|---|---|---|---|
||**tuition**|**2020**|_2019_|
|Motor expenses|**5,524**|**5,524**|_6,439_|
|Advertising|**40,239**|**40,239**|50,789|
|Bad debts and debt collection costs|**17,045**|**17,045**|_27,695_|
|Computer costs|**64,164**|**64,164**|_62,534_|
|Office expenses|**55,365**|**55,365**|_60,790_|
|Telephone|**14,272**|**14,272**|_11,478_|
|Training and subscriptions|**11,145**|**11,145**|_24,673_|
|Wages and salaries|**697,598**|**697,598**|_571,381_|
|National insurance|**60,174**|**60,174**|_50,846_|
|Pension cost|**40,818**|**40,818**|_34,176_|
||**1,006,344**|**1,006,344**|_900,801_|
|_Total 2019_|_900,801_|_900,801_||



## 

||**Staff costs**|**Depreciation**|**Other costs**|**Total**|_Total_|
|---|---|---|---|---|---|
||**2020**|**2020**|**2020**|**2020**|_2019_|
||**£**|**£**|**£**|**£**|**£**|
|Interest payable and rate||||||
|cap premium|||**95,443**|**95,443**|_116,794_|
|**COSTS OF RAISING**||||||
|**FUNDS**|||**95,443**|**95,443**|_116,794_|
|School Operations|**3,938,968**|**339,280**|**774,672**|**5,052,920**|_4,853,632_|
|School activities|||**331,190**|**331,190**|_525,342_|
|**CHARITABLE ACTIVITIES**|**3,938,968**|**339,280**|**1,105,862**|**5,384,110**|5,378,974|
|**EXPENDITURE ON**||||||
|**GOVERNANCE**|||**53,440**|**53,440**|_51,712_|
||**3,938,968**|**339,280**|**1,254,745**|**5,532,993**|_5,547,480_|
|Total _2019_|3,573,856|323,224|1,650,400|5,547,480||





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||**2020**|_2019_|
|---|---|---|
|Depreciation of tangible fixed assets:|||
|−owned by the charity|**339,280**|_323,224_|



## 

|**AUDITORS' REMUNERATION**|||
|---|---|---|
||**2020**|_2019_|
|Fees payable to the company's auditor and its associates for the|||
|audit of the company's annual accounts|**9,800**|_9,520_|
|Fees payable to the company's auditor and its associates in|||
|respect of:|||
|All other non−audit services not included above|**5,628**|_5,602_|





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|**STAFF COSTS**<br>Staff costs were as follows:|||
|---|---|---|
||**2020**|_2019_|
|Wages and salaries|**3,060,082**|_2,878,031_|
|Social security costs|**307,671**|_290,399_|
|Other pension costs|**571,215**|_405,426_|
||**3,938,968**|_3,573,856_|



|The average number of persons employed by t|he companyduring the year was as follows:||
|---|---|---|
||**2020**|_2019_|
||**No.**|_No._|
|Teaching|**57**|_59_|
|Non−teaching|**27**|_24_|
||**84**|_83_|



|T|he n|umbe|r of higher paid employees was:|||
|---|---|---|---|---|---|
|||||**2020**|_2019_|
|||||**No.**|_No._|
|In <br>In <br>In|the <br> the <br> the|band <br> band <br> band|£60,001 −£70,000<br> £70,001 −£80,000<br> £90,001 −£100,000|**3**<br>**1**<br>**0**|2<br>_1_|
|In|the|band|£120,001 −£130,000|**1**|_0_|





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|The tax assessed for the year is lower than _(2019 −lower than)_the s<br>UK of 19% _(2019−19%)._ The differences are explained below:|tandard rate of corpo|ration tax in the|
|---|---|---|
||**2020**|_2019_|
||**£**|r|
|Surplus on ordinary activities before tax|**248,614**|651,9/1|
|Surplus on ordinary activities multiplied by standard rate of|||
|corporation tax in the UK of 19% _(2019−19%)_|**47,237**|_123,863_|
|**EFFECTS OF:**|||
|Non−taxable income less expenses not deductible for tax<br>purposes|**(47,237)**|_(123,863)_|
|**CURRENT TAX CHARGE FOR THE YEAR** (see note above)|||
|**FACTORS THAT MAY AFFECT FUTURE TAX CHARGES**|||





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|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|
||**Freehold**|**Motor**|**Fixtures and**||
||**property**|**vehicles**|**fittings**|**Total**|
||**£**|**£**|**£**|**£**|
|**COST**|||||
|At 1 August 2019|**11,388,719**|**56,292**|**958,987**|**12,403,998**|
|Additions|||**146,747**|**146,747**|
|At 31 July 2020|**11,388,719**|**56,292**|**1,105,734**|**12,550,745**|
|**DEPRECIATION**|||||
|At 1 August 2019|**2,367,938**|**56,292**|**925,446**|**3,349,676**|
|Charge for the year|**301,676**||**37,604**|**339,280**|
|At 31 July 2020|**2,669,614**|**56,292**|**963,050**|**3,688,956**|
|**NET BOOK VALUE**|||||
|At 31 July 2020|**8,719,105**||**142,684**|**8,861,789**|
|_At 31 July 2019_|_9,020,781_||_33,541_|_9,054,322_|



## 

|**DEBTORS**|||
|---|---|---|
||**2020**|_2019_|
|Trade debtors|**1,909,307**|_1,893,022_|
|Other debtors|**1,600**|_2,145_|
|Prepayments and accrued income|**58,866**|_196,450_|
||**1,969,773**|_2,091,617_|





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|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
||**2020**|_2019_|
||**£**|**£**|
|Bank loans and overdrafts|**223,333**|_223,333_|
|Pupil deposits and fees in advance for the Autumn term|**2,156,431**|_2,020,931_|
|Trade creditors|**49,501**|_203,395_|
|Other taxation and social security|**86,653**|_83,913_|
|Other creditors|**168,845**|_144,814_|
|Accruals and deferred income|**737,062**|_597,024_|
||**3,421,825**|_3,273,410_|
|||**£**|
|**DEFERRED INCOME**|||
|Deferred income at 1 August 2019||**1,969,443**|
|Resources deferred during the year<br>Amounts released from previous years||**2,078,931**<br>**(1,969,443)**|
|Deferred income at 31 July 2020||**2,078,931**|



## 

|||**2020**|_2019_|
|---|---|---|---|
|||**£**|_£_|
|Bank|loans|**2,761,747**|_2,958,128_|
|Pupil|deposits|**231,493**|_169,993_|
|||**2,993,240**|_3,128,121_|





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||**Balance at**|||**Balance at**|
|---|---|---|---|---|
||**1 August**|||**31 July**|
||**2019**|**Income**|**Expenditure**|**2020**|
||**£**|**£**|**£**|**£**|
|**DESIGNATED FUNDS**|||||
|Sisters of Mercy Fund|**596,639**|||**596,639**|
|**GENERAL FUNDS**|||||
|General Funds −all funds|**7,384,541**|**5,781,607**|**(5,532,993)**|**7,633,155**|
|Total Unrestricted funds|**7,981,180**|**5,781,607**|**(5,532,993)**|**8,229,794**|
|Total of funds|**7,981,180**|**5,781,607**|**(5,532,993)**|**8,229,794**|



## 

||_Balance at_||||
|---|---|---|---|---|
||_1 August_|||_Balance at_|
||_2018_|_Income_|_Expenditure _|_31 July 2019_|
||_£_|_£_|_£_|_r_|
|Sisters of Mercy Fund|596,639||−|596,639|
|General Funds −all funds|_6,732,630_|_6,199,391_|_(5,547,480)_|_7,384,541_|
|Total of funds|7,329,269|_6,199,391_|_(5,547,480)_|_7,981,180_|



## 

||**Balance at**|||**Balance at**|
|---|---|---|---|---|
||**1 August**||**Expenditur**|**31 July**|
||**2019**|**Income**|**e**|**2020**|
||**£**|**£**|**£**|**£**|
|Sisters of Mercy Fund|**596,639**||**−**|**596,639**|
|General funds|**7,384,541**|**5,781,607**|**(5,532,993)**|**7,633,155**|
||**7,981,180**|**5,781,607**|**(5,532,993)**|**8,229,794**|





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||_Balance at_||||
|---|---|---|---|---|
||_1 August_|||_Balance at_|
||_2018_|_Income_|_Expenditure _|_31 July 2019_|
|Designated funds|_596,639_|||_596,639_|
|General funds|_6,732,630_|_6,199,391_|_(5,547,480)_|_7,384,541_|
||_7,329,269_|_6,199,391_|_(5,547,480)_|_7,981,180_|



## 

||**2020**|_2019_|
|---|---|---|
|Net income for the year (as per Statement of Financial Activities)|**248,614**|_651,911_|
|**Adjustment for:**|||
|Depreciation charges|**339,280**|_323,224_|
|Dividends, interest and rents from investments|**(27,840)**|_(15,589)_|
|(Increase) in debtors|**121,844**|_(111,916)_|
|Increase in creditors|**209,915**|_155,771_|
|**Net cash provided by operating activities**|**891,813**|_1,003,401_|
|**ANALYSIS OF CASH AND CASH EQUIVALENTS**|||
||**2020**|_2019_|
|Cash in hand|**3,813,297**|_3,236,772_|
|Total|**3,813,297**|_3,236,772_|



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||**2020**|_2019_|
|---|---|---|
|**AMOUNTS PAYABLE:**|||
|Within 1 year<br>Between 1 and 5 years|**29,790**<br>**8,352**|_29,790_<br>_38,142_|
|Total|**38,142**|_67,932_|



## 

## 

|||**2020**|_2019_|
|---|---|---|---|
|Financial|assets measured at amortised cost|**5,724,204**|_5,131,938_|
|Financial|liabilities measured at amortised cost|**4,249,481**|_4,348,182_|