## ## |CONTENTS||PAGE| |---|---|---| |Annual
Report of the Governors
the Strategic Report|including|1-11| |Report of the Independent
Auditors||12- 15| |Statement
of Financial
Activities||16| |Balance Sheet||17| |Statement
ofcash flows||18| |Notes to the Financial Statements||19-31| |Governors|||||| |---|---|---|---|---|---| |The Governors
ofthe School, who are also Directors of the|Charity and the|Charity trustees,|||during| |the year were;
Mr D Arnold
MBE¹+
(Chairman)
Dr T D Lee *+
(Vice Chairman)
Mr G Black¹
Mrs SCoventry
*
Mr A Devani ¹ +
Mrs E Eve-Raw *
Co-opted 17November
2023
Appointed
21 March 2024|Ms M Jones *
Mr J Segal ¹+
Mrs LSelby¹
Mr W Thorp¹
Mr S Wilson *$ Mr A Williams *|Resigned
21 March
2024
Resigned
17
November
2023|||| |Mrs H Gunasekera
*+
Resigned 22 June 2023|||||| |*Member of the Education Committee
¹Member of Finance and General Purposes Committee|||||| |+Member ofthe Governance
and Nominations
Committee|||||| |@Health and Safety Governor|||||| |$ Safeguarding
Governor|||||| |@Health and Safety Govern
$ Safeguarding
Governor|@Health and Safety Govern
$ Safeguarding
Governor|or|||| |---|---|---|---|---|---| |Ke
Executives 8 Professional||Advisors|||| |Head Teacher||Mrs A Lobo BEd Hons|||| |Deputy Heads||MrS Cavana
h BA Hons
PGCE
Mrs C Edwards
BA Hons
QTS
Resi ned 5Januar
2023|||| |||MsFAnwarBA
Hons
QTS
A
ointed3A
ril2023|||| |||Mrs G Wilkins BA Hons
PGCEQTS
A
ointed1 Se tember2023|||| |Bursar, Company Secretary
8, Clerk to the Governors
Clerk to the Governors||Mrs J Smithson
BA Hons (Dunelm)
FCA
Resigned as Clerk to the Governors
21 September 2023
Mr R Williams
A
ointed 21 Se tember 2023|||| |Bankers||Barclays Bank pic, 22-24 Upper
Marlborough|Road, St Albans,||ALl| |||3AL|||| |Solicitors||Pro en
Law 8,Tax Limited,
1ATower S uare,|Leeds, LSI 4DL||| |Auditors||Balfour Sanson, Statutory
Auditors, Chartered|Accountants,||| |||17Bourne Court, Southend
Road, Woodford|Green, Essex IG8 8HD||| |Insurance|Broker|Aon UK Limited, 8 Devonshire
S uare, London|EC2N 4PL||| |Investment|Managers|Rathbone
Investment
Management
Limited,
8
Finsbury||Circus,|| |||London
EC2M 7AZ|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Total|Total| |---|---|---|---| |||(Unrestricted)|(Unrestricted)| ||Notes|2023|2022| |INCOME FROM:|||| |Charitable
activities
Other trading
activities
Investments
Voluntary
sources||6,237,457
76,038
92,862
5,696|5,840,241
24,690
12,316
48,662| |Total income||6,412,053|5,925,909| |EXPENDITURE ON:|||| |Charitable
Expenditure
Raising funds
Charitable
activities||23,850
5,764,427|6,462
5,238,667| |Total expenditure||5,788,277|5,245,129| |NET LOSSES ON INVESTMENTS|13|(14,559)|(33,325)| |NET INCOME AND NET||609,217|647,455| |MOVEMENT|||| |IN FUNDS|||| |RECONCILIATION
OF FUNDS:
TOTAL FUNDS BROUGHT||9 181 690|8,534,235| |FORWARD|||| |TOTAL FUNDS CARRIED||9,790,907|9,181,690| |FORWARD|||| ||||||2023||2022| |---|---|---|---|---|---|---|---| ||||Notes||||| |FIXED ASSETS
Tangible
Assets
Investments|||12
13||11,487,907
393,719||11,239,823
346,011| ||||||11,881,626||11,585,834| |CURRENT ASSETS
Debtors
Cash at Bank and in||hand|14|202,077
1,958,309||138,310
1,605,143|| |||||2,160,386||1,743,453|| |CURRENT LIABILITIES|||||||| |Creditors: Amounts
within one year|falling due||15|1,725,034||1,399,107|| |NET CURRENT ASSETS|||||435,352||344,346| |TOTAL ASSETS LESS
CURRENT LIABILITIES|||||12,316,978||11,930,180| |CREDITORS: Amounts
after more than one||falling due
year|15||2,526,071||2,748,490| |TOTAL NET ASSETS|||||9,790,907||9,181,690| |CHARITY FUNDS|||||||| |Unrestricted
funds|||||9,790,907||9,181,690| |||||2023|2022| |---|---|---|---|---|---| ||||Note||E| |Cash flow from operating
activities|||17|1,457,688|1,480,720| |Interest paid||||(103,012)|(102,338)| |Net cash flow from operating||activities||1,354,676|1,378,382| |Cash flow from investing
activifies|||||| |Payments
to acquire tangible
fixed assets
Purchase
of fixed asset investments||||(824,198)
(52,500)|(735,590)
(30,000)| |Interest received||||85,314|5,892| |Dividends received||||7,548|6,424| |Net cash flow from investing||activities||(783,836)|(753,274)| |Cash flow from financing
activities|||||| |Net (decrease)
in loans||||(249,174)|(251,753)| |Increase
/ (decrease)
in deposits held||||31,500|(7,000)| |Net cash flow from financing||activities||(217,674)|(258,753)| |Net increase
in cash and cash equivalents||||353,166|366,355| |Cash and cash equivalents|at 1 September|||1,605,143|1,238,788| |2022|||||| |Cash and cash equivalents||at 31 August 2023||1,958,309|1,605,143| |Cash and cash equivalents||consists of:|||| |Cash at bank and in hand||||1,958,309|1,605,143| |||||1,958,309|1,605,143| ## ## ## ## ## ## |2.|INCOME FROM CHARITABLE ACTIVITIES|2023|2022| |---|---|---|---| |||E|| ||School fees receivable
Gross fees
Less: Discounts, scholarships
and bursaries|5,850,660
(148,790)|5,537,355
(161,156)| |||5.701,870|5,376,199| ||Clubs, school lunches and other activities
Registration
fees|514,887
20,700|442,092
21,950| |||6,237,457|5,840,241| |3.|INCOME FROM OTHER TRADING ACTIVITIES|2023|2022| ||||E| ||Net cafe income
/ (expenditure)
Income from fund raising events
Hire offacilities
Other|8,732
52,986
14,320|(5,956)
16,268
12,860
1,518| |||76,038|24,690| |4.|INCOME FROM INVESTMENTS|2023|2022| ||Interest- Deposit and current account
Dividend income|85,314
7,548|5,892
6,424| |||92,862|12,316| |5.|VOLUNTARY
SOURCES|2023|2022| ||Insurance
claim against repairs costs
Donations and gifts|5,696|29,692
18,970| |||5,696|48,662| ## |nalysis
ofcharitable
|activity|, governance|and support|costs is as follow|s:|| |---|---|---|---|---|---|---| |||Direct|Support|Governance|2023|2022| |||charitable|Costs|Function|Total|Total| |||activity||||| |Salary and employee||2,937,102|750,537||3,687,639|3,424,969| |costs
Premises and overhead|||521,147||521,147|514,623| |costs
Catering costs
Amortisation
Depreciation|||324,013
281,289
163,204||324,013
281,289
163,204|248,525
272,151
147,326| |School activities and||||||| |excursions
Educational
supplies
Other costs||185,046
61,163
32,391|322,274||185,046
61,163
354,665|149,821
76,070
223,466| |Finance costs including
loan interest
Legal 8, professional
fees
Audit remuneration|||105,297|61,184
19,780|105,297
61,184
19,780|106,480
62,900
12,336| |||3,215,702|2,467,761|80,964|5,764,427|5,238,667| ## |et income for the year is stated after charging:||| |---|---|---| ||2023|2022| |Other expenditure
includes:||| |Fees payable to the Company's
auditor
—for the audit ofthe Company's
annual accounts
— for other audit work on behalf ofthe Company
Amortisation
8, Depreciation
—owned assets
Operating
lease rentals
—
Land and buildings
Fittings and equipment
Net (loss) on investments
Loss on disposal oftangible
fixed assets|18,380
1,400
444,483
72,766
8,135
(14,559)
131,621|11,136
1,200
419,477
74,407
720
(33,325)| ## ## ## |TAFF COSTS||| |---|---|---| ||2023|2022| ||E|'E| |Wages and Salaries
Social Security costs
Pension costs|2,869,792
293,424
461,767|2,651,356
280,375
433,610| |Other employee
benefits|62,656|59,628| ||3,687,639|3,424,969| |

osts) of more than f60,000 in the year was a|s follows:|| |---|---|---| ||2023|2022| ||Number|Number| |260,001 —%70,000|1|1| |R70,001 —280,000||1| |280,001 —R90,000||1| |R100,001 - R110,000||1| |f110,000 —R120,000||| ||||||2023||2022|| |---|---|---|---|---|---|---|---|---| ||||||Number|FTE|Number|FTE| |Charitable
activities
Administration||(Teaching|and|support)|74
16|62
12|82
7|64
7| ||||||90|74|89|71| |||||2023|2022| |---|---|---|---|---|---| |Bank|loan|interest|payable|103,012|102,338| ## ## ## ## ||Computer
Equipment|Equipment,
Fixtures and|Land 8
Freehold|Short
Leasehold|Total| |---|---|---|---|---|---| |||Fittings|Property|Property|| ||||E|E|| |Cost
As at
1 September
2022
Additions
Disposals|627,180
96,193
(
—
)|1,596,544
171,292
(
—
)|13,050,397
556,713
(174,505)|636,470
(
—
)|15,910,591
824,198
(174,505)| |As at 31 August 2023|723,373|1,767,836|13,432,605|636,470|16,560,284| |Depreciation
As at
1 September 2022
Charge for year
Disposals|519,729
58,930
(
—
)|1,276,426
104,274
(
—
)|2,597,394
254,638
(42,884)|277,219
26,651
(
—
)|4,670,768
444,493
(42,884)| |As at 31 August 2022|578,659|1,380,700|2,809,148|303,870|5,072,377| |Net BookValue
As at 31 August 2023|144,714|387,136|10,623,457|332,600|11,487,907| |As at 31 August 2022|107,451|320,118|10,453,003|359,251|11,239,823| ## ## ## |At
1 September 2022|At
1 September 2022| |---|---| |Re-invested|income| |Change
in|market value| |Additions|| ## |nvestm|ents|at fair value|comprise:||| |---|---|---|---|---|---| |||||At 31 August|At 31 August| |||||2023|2022| |Funds|held|within a unit|trust|390,786|341,286| |Cash|within|investment|portfolio|2,933|4,725| |||||393,719|346,011| ## |EBTORS||| |---|---|---| ||2023|2022| |Amounts
falling due within one year:||| |Fees receivable|26,000|5,707| |Other debtors|22,180|| |Prepayments|153,897|132,603| ||202,077|138,310| ## |||2023|2022| |---|---|---|---| |||E|| |Amounts|falling due within one year:||| |Bank loans||263,311|260,566| |Taxation and Social Security payable
Other Creditors||73,237
160,910|67,545
160,691| |Fees paid
Deposits
Accruals|in advance
held|725,699
30,500
471,377|610,232
28,500
271,573| |||1,725,034|1,399,107| |||2023|2022| |||E|E| |Amounts|falling due after one year:||| |Long term mortgage
Deposits held||2,250,071
276,000|2,501,990
246,500| |||2,526,071|2,748490| |The amounts
fa|lling due in|respec|t of credito|rs payable
by|instalm|ents
after five|years were:| |---|---|---|---|---|---|---|---| |||||||2023|2022| |Bank loans —element over
Deposits
held
—element||five years
over
five years||(not payable|by|1,395,287
153,000|1,576,640
126,500| |instalments)|||||||| ## |otal future
minimum
lease paymen|ts
under non-cancellable
operating|ts
under non-cancellable
operating|leases are|as follo|ws:| |---|---|---|---|---|---| ||Land 8 Buildings|||Other|| ||2023|2022|2023||2022| ||E|E|E||E| |Expiring:
Within one year
In two to five years
In more than five years|1,320
76,773
2,180,107|2,273
27,610
2,288,279|121,854||1,620| ||2,258,200|2,318,162|121,854||1,620| ## |ECONCILIATION
OF NET INCOME|TO NET CASH FLO|W FROM OPE|RATING ACTIVITI|ES| |---|---|---|---|---| ||||2023|2022| |Net income for the year
Dividend income
Interest receivable
Interest payable
Depreciation
charges
Increase
/ (decrease)
in debtors
Increase
in creditors
Change
in market value of investments/reinvested
Loss on disposal of fixed assets||income|609,217
(7,548)
(83,314)
103,012
444,493
(63,767)
321,182
4,792
131,621|647,455
(6,424)
(5,892)
102,338
419,477
(4,287)
302,113
25,940| |Net cash inflow from operating|activities||1,457,688|1,480,720| ## ## ## |nk loans,|other creditors,|dep|osits held an|d accruals.||| |---|---|---|---|---|---|---| ||||||2023|2022| |||||||F.| |Financial|assets measured|at|amortised
cost||2,006468|1,610,850| |Financial|liabilities measured||at amortised|cost|3,452,169|3,469,820| |Total interest expense for||financial
liabilities||held at amortised cost|103,012|102,338|