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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|||
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|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||
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|||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|