2020-08-31-accounts - Walthamstow Hall

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ROFESSIONAL AD	VISERS	VISERS
Bankers:	NatWest Commercial		Banking
	1st Floor
	440 Strand
	London, WC2R OQS
	Barclays Bank pic
	80 High Street
	Sevenoaks
	Kent, TN I3 I LR
Solicitors:	Warners Solicitors
	16 South Park
	Sevenoaks
	Kent TNI3 IAN
	McCarthy Denning	Limited
	Minster House
	42 Mincing Lane
	London
	EC3R 7AE
Auditors:	Azets Audit Services
	2nd Floor
	Regis House
	45 King William Street
	London
	EC4R 9AN

wo staff swimming coaches also pro	vide private swimming	lessons to
Or anisation	Avera e numbers	er week
Helen Crane Swimmers
Amanda's School of Swimmin	30
A ua Swimmin Ltd	222
Pen uin Swim School	IOO
Endurance Coach Mark Horn	24
Michelle Hadden Swim School	35
Momentum	70
Mar aret Cuttill Swimmers	l07
Sevenoaks Swimmin Club	235
Sevenoaks Triathlon Club	50
Tonbrid e Swimmin Club	IOI
St ohn's Prima School	30
I htham Prima School	55

		Unrestricted	Restricted	Endowed	Total Funds	Total Funds
	Notes	Funds	Funds	Funds	2020	2019
Income and
Endowments from:
Charitable Activities
School fees receivable		8,660,297			8,660,297	9,339,258
Ancillary trading
income		1,201,713	115,935		I,317,648	1,125,339
Other trading
activities
Non-ancillary trading
income		135,800			135,800	208,351
Other activities		5,419			5,419	4,318
Investments
Bank and other interest		9,855			9,855	11,917
Voluntary sources
Grants and donations		32,899	20,863	49,114	102,876	44,074
Total Incoming
Resources		10,045,983	136,798	49,114	10,23I,895	10,733,257
Expenditure on:
Raising funds
Non-ancillary trading		74			74	576
Financing costs		64,403			64,403	90,437
Total deductible costs		64,477			64,477	91,013
Charitable Activities
Education and Grant-
making		10,003,312	153,067	39,033	10,195,412	10,317,650
Total expenditure		10,067,789	153,067	39,033	I0,259,889	10,408,663
Net (outgoing)l
incoming funds from
operations before
transfers		(21,806)	(16,269)	10,081	(27,994)	324,594
Transfers between funds	18	150	150
Net movement in
funds for the year		(21,956)	(16,119)	10,081	(27,994)	324,594
Fund balances brought
forward at
I September 2019		14,407,540	323,579	5,511,369	20,242,488	19,917,894
Fund balances carried
forward
at 3 I August 2020	17	14,385,584	307,460	5,521,450	20,214,494	j20,242,488

			2020		2019
			Unrestricted	and	Unrestricted and
			Restricted	Funds	Restricted Funds
			Total		Total
INCOME FROM:
Charitable activities
School fees			8,660,297		9,339,258
Ancillary trading			1,317,648		1,125,339
Other trading activities
Fundraising trading				135,800	208,351
Other income				5,419	4,318
Investments
Dividends, bank and other interest				9,855	11,859
Voluntary sources
Grants and donations	- Unrestricted			50,690	11,913
	—Restricted			3,072	32,161
Total Income			10,182,781		10,733,199
Expenditure on:
Raising funds
Trading costs				74	576
Financing costs				64,403	90,437
				64,477	91,013
Charitable activities
Education and grant-making			10,156,379		10,287,152
Total expenditure			10,220,856		10,378,165
Net (expenditure)/income		before
inter-fund transfers			(38,075)		355,034
Income on endowment	capital			49,114	58
Expenditure on endowment		capital	(39,033)		(30,498)
Net (expenditure)/income		for the
year			IE	27,994	6324,594

			Consolidated		Walthamstow	Walthamstow	Hall
			2020	2019	2020		2019
		Notes	E
FIXEDASSETS
Tangible assets			21,586,556	21,984,523	21,586,556	21,984,523
Securities investments					100		100
			2I,586,556	21,984,523	21,586,656	21,984,623
CURRENT ASSETS
Debtors		12	522,859	534,187	548,49 I		563,719
Cash and deposits			3,648,717	3,438,201	3,622,985		3,410,884
			4,171,576	3,972,388	4,171,476		3,974,603
CURRENT LIABILITIES
Creditors payable within	one year	13	(1,899,442)	(1,966,399)	(1,899,442)	(1,968,714)
NET CURRENT ASSETS			2,272,134	2,005,989	2,272,034		2,005,889
TOTAL ASSETS LESS
CURRENT LIABILITIES			23,858,690	23,990,5 I2	23,858,690	23,990,512
LONG-TERM LIABILITIES
Creditors payable after	one year	14	(3,644,196)	(3,748,024)	(3,644,196)	(3,748,024)
NET ASSETS			20,2 I4,494	620,242,488	20 214494	620,242,488
ENDOWED FUNDS		18	5,52I,450	5,511,369	5,52I,450		5,511,369
RESTRICTED FUNDS		18	307,460	323,579	307,460		323,579
UNRESTRICTED FUNDS:		18
General Fund			4,624,618	4,646,574	4,624,6 I8		4,646,574
Property Fund			6,323,439	6,323,439	6,323,439		6,323,439
Scholarship and bursary	fund		937,527	937,527	937,527		937,527
Sixth form development	fund		2,500,000	2,500,000	2,500,000		2,500,000
		17	20,2 I4,494	620,242,488	20,214,494	f20,242,488

					Note	2020	2020			2019
						f				f.
	Net cash	inflow	from
	operating	activities					895,188			889,221
	Cash flows from		investing
	activities
	Payments	for tangible fixed
	assets					(411,494)				(402,669)
	Cash flows from		financing
	activities:
	Loan repayments		in year		268,581			226,336
						(268,581)				(226,336)
	Fees in advance		scheme
	New fees	in advance money			392,656			807,000
	Amounts	utilised			(1,361)			(423,170)
	Amounts	repaid			395,892			~506,550
							(4,597)			(122,728)
	Change in	cash and cash equivalents			in the
	reporting	period					210,516			137,488
	Cash and	cash equivalents		at the
	beginning	ofthe reporting
	period					3,438,201				3,300,7 I 3
	Cash and	cash equivalents		at the
	end ofthe	reporting period				3,648,717				3,438,201
(i)	Reconciliation ofnet incoming				resources to net cash flow from	operations
					2020			2019
					E.
	Net (outgoing)/incoming
	resources					(27,994)				324,594
	Depreciation charge				809,461			789,	126
	Investment	write	off						75
	Decrease	in Stock							120
	Decrease	in debtors			25,632			7,000
	Increase/(decrease)		in creditors		88,089			(231,694)
	(excluding	fees in	advance
	scheme)
						923,	182			564,627
	Net cash	inflow	from
	operations					895,	188			889,221


CHARITABLE ACTI	VITIES	- FE	ESRECEIVABLE	2020	2019
Fees receivable consists of:
School fees				10,090,885	10,693,644
Less: total scholarships,	bursaries	and	allowances	1,430,588	1,354,386
				8,660,297	9,339,258
Add back: Bursaries and	other awards		paid for by
restricted	funds
				8,660,297	9,339,258

CHARITABLE	CHARITABLE	ACTIVITIES - OTHER INCOME	2020	2019
Extras			1,295,078	1,101,521
Registration	fees		17,800	17,200
Commissions	and	other income	4,770	6,618
			1,317,648	1,125,339

			2020	2019
Trading income
Walthamstow Hall	(Trading)	Ltd	85,205	129,062
Hire of premises			28,428	46,758
Rental income			22,167	32,531
			135,800	208,351
Other activities
Interest on overdue	fees		5,4 I9	4,318
			5,4I9	4,3 18

ANK	AND OTHE	R INTEREST
		Unrestricted	Restricted	Endowed	Total	Total
					2020	2019
		E				E
Bank	interest	9,855			9,855	11,917

GRANTS AND DONATION	S RECEI	VAB	LE
	Unrestricted		Restricted	Endowed			Total	Total
							2020	2019
		E					f
Transfer from WOGA	32,899		17,791			49,027	99,717
Donation for the support
of badminton								16,000
Friends and Parents of
Walthamstow Hall			3,000				3,000	23,370
Other donations			72			87	159	4,704
	32,899		20,863			49,114	I02,876	44,074
On 26 October 2019the assets ofWOGA		were	transferred to	the School,		with the WOGA charity remaining		as a linked
charity to the School. This has	been accounted for as voluntary			income	in the relevant		funds, with the relevant	assets
showing in Cash and Deposits and Reserves		in the Balance Sheet.

Total expenditure
	Staff costs	Depreciation	Other	Total	Total
	(note 9)	(note 10) E.		2020 f	2019
Costs ofgenerating
funds
Trading costs			74	74	576
Financing costs (note 8)			64,403	64,403	90,437
Total costs of
generating funds			64,477	64,477	91,013
Charitable expenditure
Education and grant
making
Teaching	5,787,362	159,180	588,853	6,535,395	6,441,297
Welfare	426,921	19,024	286,493	732,438	746,543
Premises repair and
maintenance	205,041	627,206	480,176	1,312,423	1,980,336
Support costs and
governance	862,606	4,051	727,754	1,594,411	1,141,345
Grants awards and prizes
(note 7 (b))			20,745	20,745	8,129
Total charitable
expenditure	7,281,930	809,461	2,104,021	10,195,412	10,317,650
Total expended	7,281,930	809,461	2,168,498	10,259,889	10,408,663

Depreciation relat to this endowment	ing to the endowed fund school properties totall fund.	ing 630,480 (2019:630,480) has been charged di	rectly
Grants, awards	and prizes	2020	2019
From Unrestricted
Funds:
Prizes and leaving	awards	20,745	8,129
		20,745	8,129


7.	ANALYSIS OF EXPEND			ITURE (continued)
(c)	Governance included		in	support costs:				2020		2019
										E.
	Remuneration paid to auditor for audit services							I	8,229	17,879
	Reimbursement ofpersonal			expenses to Governors			—travel costs		2,972	3,915
	Other governance costs									2,727
								21,201		24,521
	Travel expenses were reclaimed				by 2 members	(2019:2) ofthe Governing		Body.
8.	FINANCE AND OTHER			COSTS				2020		2019
	Loan interest payable							64,403		90,437
9.	STAFF COSTS
								2020		2019
	The aggregate payroll	costs		for the year were as		follows:		E
	Wages and salaries							5,809,467		5,558,343
	Social security costs							547,999		527,598
	Other pension costs							924,464		630,807
								7,281,930		6,716,748
	Aggregate employee	benefits		of key management		personnel		543,939		461,972
	Number of higher paid employees				in bands of:			2020		2019
	660,001 —670,000							I		I
	f70,001 —680,000							0		3
	f80,001 —690,000							3		0
	f90,001 - 6100,000							0		0
	6100,001 - 6110,000							I		I
	6110,001 - 6120,000							0		0
	6120,001 - 6130,000							0		0

	2020	2019
Teaching	80	80
Welfare	17	17
Premises	l6	16
Support	30	23
Other activities	2	3
	145	138

10.	TANGIBLE FIXEDASSETS	Freehold Land	Vehicles &
		and Buildings	Equipment	Total
	Cost
	At I September 2019	26,886,805	2,624,007	29,510,812
	Additions at cost	73,539	337,955	411,494
	At 31 August 2020	26,960,344	2,961,962	29,922,306
	Depreciation
	At I September 2019	5,539,906	1,986,381	7,526,287
	Charge for the year	514,792	294,669	809,461
	At 31 August 2020	6,054,699	2,281,051	8,335,750
	Net Book Value
	At 31 August 2020	20,905,645	680,911	2I,586,556
	At 31 August 2019	21,346,899	637,626	21,984,523
II.	SECURITIES INVESTMENTS
			2020	2019
	Group investments
	At I September 2019			75
	New money invested
	Amounts extracted			75
	Group investments at 31 August 2020
	Investment in subsidiary		100	100
	School investments at 31 August 2020		100	100
	Investments comprise:
	Investment in subsidiary		100	100
			100	100

	Endowed	Restricted	Unrestricted	Total
				E
Tangible Fixed Assets	5,416,115		16,170,441	21,586,556
Advance Fees			(1,049,795)	(1,049,795)
Final Term Deposits			(289,602)	(289,602)
Net current assets	105,335	307,460	2,390,212	2,803,007
Long term liabilities			(2,835,672)	(2,835,672)
	5,521,450	307,460	14,385,584	20,214,494
ANALYSIS OF NET	ASSETS BETWEEN	FUNDS (PRIOR YEAR)
	Endowed	Restricted	Unrestricted	Total
		E.		E.
Tangible Fixed Assets	5,446,595		16,537,928	21,984,523
Securities investment
Advance Fees			(879,601)	(879,601)
Final Term Deposits			(276,202)	(276,202)
Net current assets	64,774	323,579	2,087,185	2,475,538
Long term liabilities			(3,061,770)	(3,061,770)
	5,511,369	323,579	14,407,540	20,242,488

18.	SUMMARY OF MOVEMENTS ON	SUMMARY OF MOVEMENTS ON	MAjOR FUNDS	MAjOR FUNDS
	At	I	Incoming		Resources	Total	At 31
	Sept.		resources		expended	Return	August
	2019					Transfers	2020
							f.
	Unrestricted funds
	General reserve 4,646,574		9,927,879		(9,979,150)	(150)	4,595,153
	Property reserve 6,323,439						6,323,439
	Scholarship & Bursary
	reserve 937,527						937,527
	Sixth form development
	reserve 2,500,000						2,500,000
WOGA			32,899		3,434		29,465
	14,407,540		9,960,778		(9,982,584)	(150)	14,385,584
Trading company
	reserves		85,205		85,205
	14,407,540		10,045,983		10,067,789	150	14,385,584
	Restricted funds
	The Downton Fund	10,282					10,282
	The Tanner Fund	46, 171					46,171
	The Badminton fund	137,951			(62,855)		75,096
	Head's Special Fund	14,083			(2,071)	150	12,162
	The Bursary Fund	54,313					54,313
	The Mulberry Fund	600					600
	Specified purposes	4,326	115,935		(84,141)		36,120
	Sundry special trust
	funds	32,483		72			32,555
	FPWH	23,370	3,000		(4,000)		22,370
	WOGA		17,791				17,79 I
	323,579		136,798		153,067	150	307,460
	Endowed - Permanent
	Consolidated Prize &
	Education Funds	8,160		87	(555)		7,692
	WOGA		49,027				49,027
	Goddard Legacy	15,121			(7,998)		7,123
	Diana Burn Rosen
	Legacy	41,493					41,493
	School Property 5,446,595				30,480		5,416,115
	5,511,369		49,	114	39,033		5,521,450

18.I	SUMMARY OF MOVEMENTS ON	SUMMARY OF MOVEMENTS ON	MAjOR FUNDS	MAjOR FUNDS	(PRIOR YEAR)
		At 1	Incoming		Resources	Total	At 31
		Sept.	resources		expended	Return	August
		2018				Transfers	2019
		E	F
	Unrestricted funds
	General reserve	4,291,598	10,374,494		(9,938,041)	(81,477)	4,646,574
	Property reserve	6,323,439					6,323,439
	Scholarship & Bursary
	reserve	937,527					937,527
	Sixth form development
	reserve	2,500,000					2,500,000
		14,052,564	10,374,494		(9,938,041)	(81,477)	I4,407,540
	Trading company
	reserves		129,062		129,062
		14,052,564	10,503,556		10,067,103	81,477	14407,540
	Restricted funds
	The Downton Fund	10,282					10,282
	The Tanner Fund	46, 171					46,171
	The Badminton fund	137,955		195	(81,734)	81,535	137,95 I
	Head's Special Fund	17,390			(3,307)		I4,083
	The Bursary Fund	54,313					54,313
	The Mulberry Fund			600			600
	Specified purposes	26,041	204,306		(226,021)		4,326
	Sundry special trust
funds		31,3 I I	1,	172			32,483
	FPWH		23,370				23,370
		323,463	229,643		311,062	81,535	323,579
	Endowed - Permanent
Consolidated Prize &
Education Funds		8,160					8,160
Goddard Legacy		15,121		15		(15)	15,121
Diana Burn Rosen
Legacy		41,493		43		(43)	41,493
School Property		5,477,093			30,498		5,446,595
		5,541,867		58	30,498	58	5,5 I I,369

Year ended 31 August	Year ended 31 August	2019	2019		Unrestricted	Restricted	Restricted	Endowed	Total
						f
Income from:
Charitable activities
School fees receivable					9,339,258				9,339,258
Ancillary trading income					927,857	197,482			1,125,339
Other trading activities
Non-ancillary trading income					208,351				208,351
Other activities					4,318				4,318
Investments
Bank and other interest					11,859			58	11,917
Voluntary sources
Grants and donations					11,913	32,	161		44,074
Total Incoming Resources					10,503,556	229,643		58	10,733,257
Expenditure on:
Raising funds
Non-ancillary trading					576				576
Other income-generating		activities
Financing costs					90,437				90,437
Total deductible costs					91,013				91,013
Charitable Activities
Education and grant-making					9,976,090	311,062		30,498	10,317,650
Total resources expended					10,067,103	311,062		30,498	10,408,663
Net incoming funds	before		transfers
before transfers					436,453	(81,419)		(30,440)	324,594
Transfer between funds					81,477	81,535		58
Net movement in funds	for the		year		354,976		116	(30,498)	324,594
Fund Balances brought	forward		at	I September
2018					14,052,564	323,463		5,541,867	19,917,894
Fund Balances carried forward			at	31stAugust
2019					14,407,540	323,579		5,511,369	20,242,488

			2020		2019
Within		I year		49,699	96,506
Within		2-5 years	I	0I,830	62,666
After	5	years			550