**Charity No: 1062748 Company No: 2590761**
## **THE ST. GABRIEL SCHOOLS FOUNDATION**
**(A COMPANY LIMITED BY GUARANTEE)**
## **ANNUAL REPORT**
**AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
**THE ST. GABRIEL SCHOOLS FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS**
||**PAGE**|
|---|---|
|Governors, Officers and Advisors|1 - 2|
|Report of the Charity Trustees (Governors’ Report)|3 - 10|
|Auditor’s Report|11 - 13|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Cash Flow Statement|16|
|Notes to the Financial Statements|17 - 36|
**THE ST. GABRIEL SCHOOLS FOUNDATION GOVERNORS, OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 JULY 2020**
## **GOVERNORS**
Mr S Barrett Mrs S Bowen Mr N Garland – Chairman Mrs J Heywood Mr D Peaple Mr S Ryan Mr M Scholl Mrs J Whitehead Mrs S Hutton Mr N Rankin
## **THE PRINCIPAL**
Mr Richard Smith
## **THE BURSAR AND CLERK TO THE BOARD OF GOVERNORS**
Mrs Penny Setter
## **OTHER MEMBERS OF THE EXECUTIVE**
**Vice Principa** l Mrs Angela Chapman
## **Head of Junior School**
Mr Peter Dove
## **ADDRESS**
The St. Gabriel Schools Foundation Sandleford Priory Newbury Berkshire RG20 9BD
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**THE ST. GABRIEL SCHOOLS FOUNDATION GOVERNORS, OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 JULY 2020**
**ADVISERS Bankers** National Westminster Bank plc 30 Market Place Newbury Berkshire RG14 5AJ **Solicitors** Godwins Solicitors LLP 12 St Thomas Street Winchester Hampshire SO23 9HF **Auditor** Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL **Insurers** Marsh Limited Capital House 1-5 Perrymount Road Haywards Heath West Sussex RH16 3SY **Associations** Girls’ Schools Association Independent Association of Preparatory Schools Independent Schools’ Council Association of School and College Leaders Independent Schools Bursars’ Association
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) FOR THE YEAR ENDED 31 JULY 2020**
The Directors, who are also Governors of the school and charity trustees for the purposes of the Charities Act 2011, present their annual report in compliance with both that Act and the Companies Act 2006, together with the financial statements prepared under the latter Act, for the period ending 31 July 2020.
## **DIRECTORS’ REPORT**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The St. Gabriel Schools Foundation is a company limited by guarantee, company number 2590761 and a registered charity number 1062748. It operates under the trading names of “St. Gabriel’s” or “St. Gabriel’s School” or ‘’Sandleford’’ and has a subsidiary company “St. Gabriel’s School Sports Centre Ltd”, Company Registration No 4250669 (currently dormant). The principal address and registered office is Sandleford Priory, Newbury, Berkshire. Mr N Garland is the sole Director of St. Gabriel’s Sports Centre Ltd. Mrs P Setter is Company Secretary to both companies and Clerk to the Governors.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Governing Document is a Declaration of Trust dated 1 May 1974 and as amended by a scheme approved by the Charity Commission on 4 October 1991.
## **Governing body**
The list of Governors is shown at page 1 of this report.
## **Election, recruitment and training**
New Governors are elected by the existing Trustees and are selected from nominations from individuals on that Board and the Principal. Governors serve for a term of three years and may be re-elected. The Chair of Governors is elected from within the Board for a term of three years and may be re-elected.
Governors are selected to maintain a balance of relevant experience, professional knowledge and competence on the Board. The Board seeks and appoints persons with educational, financial, business, pastoral, legal, religious and parental experience. Induction and then further training, as required, are provided to build on individual skills and qualifications.
## **Organisational management**
The Governing Body is supported by the Finance & General Purposes sub-committee, the Education subcommittee (re-established in January 2017), the Marketing sub-committee (established January 2020) and the COVID19 sub-committee (established April 2020). The day-to-day running of the school is delegated to the Executive as key management personnel. The Executive attend all meetings of the Governing Body’s committees.
The leadership structure of the school is made up of The Executive (Principal, Bursar, Vice-Principal and Head of Junior School), the Senior Leadership Team (SLT) and the Junior Leadership Team (JLT). The Principal conducts strategic conversations with the SLT, JLT and Heads of Departments and members of staff which inform the Executive’s strategic proposals to Governors. Governors review, consider and amend these proposals prior to formally approving development and educational strategies which the Executive are tasked with implementing. A Heads of Department committee, chaired by the Director of Teaching and Learning coordinates cross phase and interdepartmental academic matters.
The remuneration of the key management personnel is set by the Board, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the Company’s success.
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020**
The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere.
We aim to recruit, where practicable, at the lower to medium point within a band, providing scope for rewarding excellence. Delivery of the School’s charitable vision and purpose is primarily dependent on our key management personnel and staff costs are the largest single element of our charitable expenditure.
## **OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES**
## **Charitable objects**
The charitable objects are to promote and provide for the advancement of education of the pupils at the School and in connection with that to expand and develop the school with a curriculum in accordance with the principals of the Church of England. The promotion of this education is in itself of public benefit and this is being pursued with the same vigour as it has always been. In accordance with the trust deed of 1974 the Governors take account of the financial circumstances of all its pupils and makes awards and bursaries so that its charitable aims are available to the whole population by the provision of means tested awards. In seeking to promote these objects the Governors take full account of the appropriate guidance issued by the Charity Commission.
The St. Gabriel Schools Foundation aims to:
- Provide, within the framework of a safe, secure and happy Christian environment, an academic education which will enable each individual to develop:
- His/her abilities to the full
- `o` A wide range of interests and extra-curricular activities `o` A sense of personal values
- Make education a challenging and positive experience in which each pupil can feel some measure of success and acquire confidence and self-esteem
- Prepare pupils for the challenges of the 21[st] Century and in particular for work in a changing society.
St. Gabriel’s seeks to achieve these charitable objects with the assistance of local educational, cultural and charitable bodies and it is a policy of the school to seek to provide and achieve the highest standards in education, to build on the partnership with a local state school and promote education with the local community through a series of events as well as widening access to the schools facilities.
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020**
## **STATEMENT OF GOVERNORS’ RESPONSIBILITIES**
The Trustees (who are also directors of The St. Gabriel Schools Foundation for the purposes of company law) are responsible for preparing the Governors’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **PROVISION OF INFORMATION TO AUDITOR**
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
- so far as that director is aware, there is no relevant audit information of which the Company's auditors are unaware, and
- that the director has taken all the steps that ought to have been taken as a director in order to be aware of any information needed by the Company's auditors in connection with preparing their report and to establish that the Company's auditors are aware of that information.
## **AUDITORS**
In accordance with Section 485 of the Companies Act 2006, a resolution proposing the reappointment of Crowe U.K. LLP as auditors of the company will be put to the Annual General Meeting.
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020**
## **STRATEGIC REPORT**
## **OBJECTIVES**
## **Objectives for the period**
The prime objectives have been:
- Continued preparation and implementation of A levels courses creating an appropriate and attractive 6[th] form offering;
- Continue preparation and implementation of GCSE courses;
- Consolidation and prudence in financial management;
- Updating and refinement of School policies in line with new legislation;
- IT facilities
- Enhancing the whole school experience.
## **Strategies to achieve the objectives**
There have been several strands to the strategic action required to take forward this periods objectives:
- Reinforcing the financial stability of the school;
- Reviewing the academic curriculum including the number of subjects on offer at A level and GCSE and the time allocated to each subject in the timetable;
- Continued implementation of fully means-tested assessment for financial assistance in order to enhance the accessibility and thus the public benefit offered by the charity;
- Invest to Impress – investment to enhance the facilities and appearance of the school;
- Upgrade ICT facilities
During the period under review St. Gabriel's School had 322 full time pupils in Reception to Year 13 with a further 73 children in the nursery (full-time and part-time) in the school at the start of the year, which rose to 83 for the summer term. At the start of September 2020, there were 314 pupils on roll for Reception to Year 13 and a further 67 children in the nursery which will rise during the course of the year.
## **GRANT-MAKING POLICY**
This year, the value of scholarships, grants, prizes and other awards made to the Schools’ pupils exceeded £130,050. The Governors’ policy, in line with that of other Independent Schools, is to make these awards on the basis of the individual’s educational potential, subject to the particular conditions imposed by the original donor where the award is out of restricted funds. Further means-tested awards totalling £358,429 in bursaries and allowances were made to support 41 pupils who would not otherwise be able to attend the school or to relieve hardship where the pupil’s education and future prospects would otherwise be at risk. 22 pupils received bursaries of 50% or more of the annual fees, with 14 of these receiving a minimum bursary of 85% and the majority of these pupils also received support with school transport, educational visits and music tuition.
## **COMMUNITY**
## **Independent/State School Partnerships and Links**
We have formed a partnership with a local state secondary school. The two schools have worked together closely on a number of initiatives which represents a highly innovative and cost-effective approach to the collaborative delivery of enhanced curriculum provision for students between an independent girls’ school and an 11-18 mixed converter academy. This initial provision has subsequently been developed and extended to extra-curricular and gifted and talented enrichment opportunities. Most recently it has also deepened further to include shared professional development for teaching staff, with a joint leadership development programme for female teachers and reciprocal teaching provision offering support for teachers.
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020**
Additional activities in 2018/19 included:
- Running A level interview sessions for pupils in our partner school;
- Sharing expertise in A level courses/teaching.
The school also embarks on a wide range of links and collaborations with other schools including:
- Sixth form students and staff visit local schools offering advice and guidance on subject choices at A level and their impact on higher education and careers.
- Every year the school invites pupils from local primary schools to take part in a maths challenge. This year 257 pupils attended from 33 primary schools. Transport is also provided to collect pupils from their local schools.
- The Head of Classics visits 2 local primary schools throughout the year to teach Outreach Latin to 80 pupils.
- In the Spring term staff ran a Modern Foreign Languages Olympics for pupils from 4 local primary schools (36 pupils)
- One of our Mandarin teachers visited 2 local schools from September to March to deliver outreach Mandarin.
- Two Chinese New Year celebrations hosted by St Gabriel’s for 2 local schools.
- Sharing expertise with staff from local schools.
## **Community Links**
A Community Link Project starts in year 9 which encourages pupils to identify and meet a variety of needs within the local community which they continue in subsequent years.
Senior pupils, as part of their Duke of Edinburgh Service element, participate in a community project.
Pupils participate in a wide range of fundraising activities. This year the school raised £5,547 for other charities.
The nursery ran several parent and toddler mornings for the local community during the year. Last year there were 3 events attended by 7 families.
Sixth form students have the opportunity to participate in a World Challenge Expedition (2012 Ecuador, 2014 Peru, 2016 Thailand and Cambodia, 2018 Borneo) where they spend a week volunteering and living in a local community working on an education based project. The next expedition which was due to take place in July 2020 to Vietnam and Laos was regrettably cancelled due to the worldwide COVID19 pandemic. The Governors hope to re establish this opportunity in 2022.
Students, including those considering a career in medicine or other caring professions, participate in voluntary work in local care homes.
## **Community Access**
The school supports a number of local groups by providing its facilities free or charge or at a reduced fee, including:
- a meeting venue for PALS, a West Berkshire charity which provides social and leisure activities for physically disabled children.
- West Berkshire Schools Sports Network events.
- County chess championships.
- Friends of Young Carers charity quiz night.
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020**
## **FACILITIES**
In September 2014 the Junior School become co-educational and a 50 week per year day nursery was opened catering for children from aged 6 months to 5 years and from 7:30am to 6:30pm. The nursery is now successfully feeding boys and girls into the coeducational Junior School. A new 6[th] Form centre was converted during 2016/17, and opened at the start of the autumn term 2017, providing teaching rooms and study areas for many subjects. During 2018/19 the school built upon the 2017/18 Invest to Impress programme with the aim of upgrading many of the schools facilities. Much of the summer 2020 works were concentrated on ensuring the school was prepared for the September return of pupils under COVID 19 guidance. This included the refurbishment and installation of welfare facilities throughout the school.
## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE PERIOD**
You will be aware the way in which results were awarded at both GCSE and A Level differed this year to that of previous years. Rather than sit final examinations, pupils were awarded Centre Assessed Grades (CAGs) by the school. At St Gabriel’s a robust process was used in deciding these grades. Heads of Department determined initial grades using mock examination results, NEAs, class work, homework and baseline data. They were also given data from last year’s examinations detailing how mock results had previously correlated to final grades in their department. Each Head of Department then met with the Vice Principal and Director of Curriculum via Teams to look at these initial grades in detail. This enabled the school to take a holistic approach for each pupil to ensure that the given grades were the right results for each individual.
## **Academic – A Level**
The following table shows trends at A level results over the last 5 years (%)
**----- Start of picture text -----**
A* A B C D E U
2016 5 25 32 28 8 2
2017 2 27 36 23 10
2018 3 39 41 16 3
2019 29 39 26 6 1
2020 30 41 25 5
**----- End of picture text -----**
At A level, 95% of the grades were at A*-B; this compares to 56.8% nationally. We also saw 70% of grades at A*/A. This is a significant improvement on last year which saw 92% of grades at A*-B and 67% of grades at A*/A. It is therefore clear that there has overall been an upward trend in our A level results over the last three years.
## **Academic - GCSE**
At GCSE level all subjects have now moved on to the new 9-1 rather than A*-G. With this new grading system we were delighted that 56.8% of grades awarded were at grade 8 or 9 compared to 14.4% nationally. We also achieved 20.9% at grade 9, nearly 3 times the national average of 6.3%.
Overall 100% of grades this year were at 9-4 which is an excellent achievement. We will certainly aim to repeat this performance next year though it is important to have an awareness of the varying nature of each cohort. This year 100% of Year 11 also secured 5 or more 9-4 grades including English Language, English Literature and Mathematics. Again, we would hope to repeat this success next year.
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2020**
## **FINANCIAL REVIEW AND RESULTS FOR THE PERIOD**
The results are a return of circa -11% which was anticipated by the Governors and has been impacted by the current unprecedented environment surrounding COVID 19. Throughout the year the Governors have continually reassessed the schools financial position and its ability to continue as a going concern. This has included the development of several budget scenarios and cash flow forecasts all of which have been robustly stress tested. The maintenance of a sufficient and prudent margin in the order of 8-12% will undoubtedly prove challenging but the Governors are resolved to pursue measures to maintain financial stability. The Governors continue to identify priorities for the school in terms of increasing recruitment and retention, reducing costs and developing the school.
## **Reserves Policy**
The School’s unrestricted funds stood at £3,539,191 _(2019: £4,151,055)_ at the end of the period. After adjusting for unrestricted functional fixed assets for the charity’s own use, borrowings against them and the effect of revaluation of fixed assets at a time of lower property prices there were free reserves of £688,253 (as defined by the Charity Commission) _(2019: £1,254,824)._
The Governors consider that free reserves would ideally be equivalent to one terms operating costs (currently approximately £1.9m), in order to cover the risks and uncertainties of operating as an independent educational establishment.
The long term policy is therefore to return to building up reserves out of annual net incoming resources until that level is reached, subject to the prior demands of further capital expenditure to equip the School with the up-to-date facilities needed to maintain the standard of educational services currently provided.
## **Fundraising**
A separate charity the St Gabriel’s Parent Teachers Association which is operated by parents of the school raises funds towards facilities and equipment for the school by running social events during the year. In the year 2019/20 the PTA donated £4,203 to the school following these activities. The school does not engage in large scale fundraising activities like mass mailings, telephone fundraising or door to door campaigns. Any small level fundraising activities focus on the current parents and other individuals or organisations connected with the school rather than the wider community. During the financial year, the School did not receive any fundraising complaints requiring action by the Fundraising Regulator.
## **FUTURE PLANS**
The strategic conversations which the Principal conducts formally with all Heads of Departments before their budget submissions each year provide a detailed insight into the curriculum requirements perceived by the Heads of Departments. These aspirations are funnelled in two directions: firstly into short term plans for departmental budgets and more strategically into curriculum development and the resources required to support it.
In addition, the Governors have considered the strategic direction of the school against a backdrop of reducing demand for single sex education in the junior years, the requirements for childcare for working parents and the aspirations of pupils for an enhanced 6[th] Form.
## **Principal risks and uncertainties**
The Board of Governors is responsible for the management of the risks faced by the school. In November 2001 the school commissioned a risk assessment from a specialist advisor and a full review and action plan with regard to the risks was produced. The risk assessment report is used as a current working document and is formally reviewed by the Board of Governors on an annual basis.
From 20 March 2020, the School was physically closed with immediate effect as part of the national response to the COVID-19 coronavirus pandemic. Despite the physical closure of the School, the School was able to serve its pupils effectively throughout the period by offering a full and comprehensive distance learning programme. As a result, Governors decided to offer a reduction of 15% to the Summer Term 2020 School fees. In order to preserve the School’s strong financial position, operating expenses were reduced by
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## **THE ST. GABRIEL SCHOOLS FOUNDATION REPORT OF THE CHARITY TRUSTEES (GOVERNORS’ REPORT) (CONTINUED)**
## **FOR THE PERIOD ENDED 31 JULY 2020**
furloughing 54 staff members (as part of the Governments Coronavirus Job Retention Scheme) and catering activities ceased. All but necessary capital expenditure was put on hold. In June 2020 the School was able to partially reopen the Junior School and Nursery in line with Government guidelines. Further changes to the guidelines enabled a full reopening of the Junior school for the final 2 weeks of the summer term. The Nursery continued to operate throughout the summer break.
The costs incurred due to the Coronavirus pandemic have been extensive and the Governors agreed that a portion of the Schools reserves should be used to support the school through this challenging period. The Governors have undertaken a robust review of the curriculum and staffing and have adjusted both were required. The school has also stress tested the cash flow forecast against a number of scenarios, including further remote teaching and changes to pupil numbers. Because of the action taken, the Governors consider it appropriate for the going concern basis to be adopted for these accounts.
The principal risks and uncertainties currently facing the Company are considered to be, further impact from the COVID 19 pandemic, price competition from rival independent schools investing heavily in state-of-theart technology and facilities, the increasing competition for high-quality teaching and support staff and its effect on succession-planning and severe reputational damage in the unlikely event of a high profile legal action alleging lack of due care over our pupils as vulnerable beneficiaries.
Our plans and strategies for managing risk include maintaining effective internal controls, risk registers, incident-reporting and monitoring systems and insurance cover wherever appropriate.
The key controls used by the charity to minimise risk include:
- Formal agendas for all Board, Committee and management team activity;
- Comprehensive strategic planning, budgeting and management;
- Well established organisational structure and lines of reporting;
- Formal written policies;
- Vetting procedures as required for the protection of the vulnerable;
- Monitoring competition;
- Implementing and monitoring progress against the school development plan;
- Maintaining accurate records and making relevant interventions where appropriate.
Through the risk management processes established by the school, the Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
The major risks to the continued success of the school are assessed as: reputation, recruitment and health & safety. These risks are managed by a balanced approach to insurance, controls, emergency planning, and training.
This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Governing Body of The St. Gabriel Schools Foundation on 30 November 2020 including in their capacity as company directors approving the Strategic Report contained therein, and is signed as authorised on its behalf by:
**N C Garland**
Chairman of the Board of Governors
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## **Crowe U.K. LLP**
_Chartered Accountants_ Member of Crowe Global Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL, UK Tel +44 (0)118 959 7222 Fax +44 (0)118 958 4640 www.crowe.co.uk
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE ST. GABRIEL SCHOOLS FOUNDATION**
## **Opinion**
We have audited the financial statements of St. Gabriel Schools Foundation for the year ended 31 July 2020 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheets, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 July 2020 and of the group’s incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group’s or the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue
> Crowe U.K. LLP is a limited liability partnership registered in England and Wales with registered number OC307043. The registered office is at 55 Ludgate Hill, London EC4M 7JW. A list of the LLP’s members is available at the registered office. Authorised and regulated by the Financial Conduct Authority. All insolvency practitioners in the firm are licensed in the UK by the Insolvency Practitioners Association. Crowe U.K. LLP is a member of Crowe Global, a Swiss verein. Each member firm of Crowe Global is a separate and independent legal entity. Crowe U.K. LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Global or any other member of Crowe Global.
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## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE ST. GABRIEL SCHOOLS FOUNDATION**
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
- In our opinion based on the work undertaken in the course of our audit
- the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In light of the knowledge and understanding of the group and the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- the charity has not kept adequate accounting records; or
- the charity financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of the Governors**
As explained more fully in the Statement of Governors’ Responsibilities set out on page 5, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
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## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE ST. GABRIEL SCHOOLS FOUNDATION**
In preparing the financial statements, the trustees are responsible for assessing the group’s or the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Janette Joyce Senior Statutory Auditor
For and on behalf of **Crowe U.K. LLP** Statutory Auditor Reading 49-51 Blagrave Street Reading Berkshire RG1 1PL
Date: 14 December 2020
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## **THE ST. GABRIEL SCHOOLS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES** _(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)_ **FOR THE YEAR ENDED 31 JULY 2020**
|Notes
**INCOME FROM**
**Charitable activities**
School fees receivable
4
Ancillary trading income
5
**Income from generated**
**funds:**
Non-ancillary trading income
6
**Voluntary income:**
Donations and grant income
7
**Total**
**EXPENDITURE ON**
**Charitable Activities**
School operating costs
**Raising funds**
Finance costs
10
**Total**
8
**Net (expenditure)**
**before transfers**
Transfers
**Net movement in funds**
Funds balances 1 August 2019
**Funds balances 31 July 2020**|**Unrestricted**
**Funds**
**£**
**5,101,774**
**381,455**
**23,032**
**143,882**
**5,650,143**
**6,181,447**
**80,560**
**6,262,007**
**(611,864)**
**-**
**(611,864)**
**4,151,055**
**3,539,191**|**Restricted**
**Funds**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Permanent**
**Endowment**
**Fund**
**£**
**-**
**-**
**-**
**-**
**-**
**8,683**
**-**
**8,683**
**(8,683)**
**-**
**(8,683)**
**615,089**
**606,406**|**Year to**
**31 July**
**2020**
**£**
**5,101,774**
**381,455**
**23,032**
**143,882**
**5,650,143**
**6,190,130**
**80,560**
**6,270,690**
**(620,547)**
**-**
**(620,547)**
**4,766,144**
**4,145,597**|_Year to_
_31 July_
_2019_
_£_
_5,733,425_
_553,180_
_39,206_
_51,560_
_6,377,371_
_6,461,428_
_67,676_
_6,529,104_
_(151,733)_
_-_
_(151,733)_
_4,917,877_
_4,766,144_|
|---|---|---|---|---|---|
The notes on pages 17 to 36 form part of these accounts
Page 14
## **COMPANY NUMBER: 2590761 THE ST. GABRIEL SCHOOLS FOUNDATION BALANCE SHEET**
## **AS AT 31 JULY 2020**
|Notes
**FIXED ASSETS**
Tangible assets
13
Intangible assets
12
Investment assets
14
**CURRENT ASSETS**
Stock
Debtors
15
Cash at bank and in hand
**CREDITORS:**Amount due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS:**Amount due after more
than one year
17
**NET ASSETS**
**FINANCED BY**
Restricted funds
22b
Unrestricted funds
22c
Endowed funds
22a|**2020**
**£**
**5,025,435**
**3,801**
**1**
**5,029,237**
**158**
**1,752,178**
**1,057,699**
**2,810,035**
**(2,155,960)**
**654,075**
**5,683,312**
**(1,537,715)**
**4,145,597**
**-**
**3,539,191**
**606,406**
**4,145,597**|_2019_
_£_
_5,139,677_
_7,051_
_1_
_5,146,729_
_3,092_
_1,764,628_
_1,743,267_
_3,510,987_
_(2,354,896)_|
|---|---|---|
|||_1,156,091_
_6,302,820_
_(1,536,676)_|
|||_4,766,144_
_-_
_4,151,055_
_615,089_
_4,766,144_|
The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 30 November 2020.
**N C Garland**
Governor
The notes on pages 17 to 36 form part of these accounts
Page 15
## **THE ST. GABRIEL SCHOOLS FOUNDATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2020**
|Notes
Net movement in funds
Loss on sale of assets
Decrease/(Increase) in stock
Decrease in debtors
(Decrease) in creditors
Increase in deposits
Depreciation charge
Amortisation of intangible asset
Hire purchase interest paid
Bank interest paid
Release of capital grant
**Net cash provided by operating activities**
**Cash Flows from investing activities**
Purchase of intangible assets
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
Repayment of loan
Financing costs
Capital element of hire purchase repayments
**Advanced fee scheme:**
Receipts from new contracts
Amounts utilised and repaid
**Net cash flows used in financing activities**
Change in cash and cash equivalents in the
year
27,28
Cash and cash equivalents at the beginning of
the year
**Total cash and cash equivalents at the end**
**of the year**|**2020**
**£**
**£**
**(620,547)**
**1,892**
**2,934**
**12,450**
**(92,359)**
**9,175**
**293,419**
**3,250**
**1,271**
**52,205**
**(7,941)**
**(344,251)**
**-**
**(181,069)**
**(181,069)**
**(50,892)**
**(53,476)**
**(12,624)**
**-**
**(43,256)**
**(160,248)**
**(685,568)**
**1,743,267**
**1,057,699**|_2019_
_£_
_(151,733)_
_-_
_(682)_
_87,053_
_(81,266)_
_11,350_
_292,230_
_2,699_
_1,271_
_51,045_
_(7,941)_
_204,026_
_(9,750)_
_(297,227) _
_(306,977)_
_(81,732)_
_(52,316)_
_(12,624)_
_75,703_
_(67,422)_|
|---|---|---|
|||_(138,391)_|
|||_(241,342)_
_1,984,609_
_1,743,267_|
The notes on pages 17 to 36 form part of these accounts
Page 16
**THE ST. GABRIEL SCHOOLS FOUNDATION STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2020**
## **1. CHARITY INFORMATION**
The St. Gabriel Schools Foundation has the registered charity number 1062748. It operates under the trading names of “St. Gabriel’s” or “St. Gabriel’s School” o r “ Sandleford’’ and has a subsidiary company “St. Gabriel’s School Sports Centre Ltd”, Company Registration No 4250669 (currently dormant). The principal address and registered office is Sandleford Priory, Newbury, Berkshire. It was incorporated in England on 12 March 1991 (company number: 2590761) and registered as a charity on 9 June 1997 (charity number: 1062748) (previously charity number 325060) and the charity is governed by the Declaration of Trust dated 1 May 1974 and as amended by a scheme approved by the Charity Commission on 4 October 1991.
## **2. ACCOUNTING POLICIES**
## **a) Basis of preparation**
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – effective 1 January 2015, the Companies Act 2006 and the Statement of Recommended Practice applicable to charities.
The School is a Public Benefit Entity registered as a charity in England and Wales and a company limited by guarantee.
The accounts are drawn up on the historical cost basis of accounting, unless otherwise stated in the relevant accounting policy note(s). Consolidated accounts have not been prepared on the grounds that the subsidiary is non-trading and would make an immaterial change to the results of the charity.
## **Going Concern**
The full impact of COVID-19 on the UK, the economy and the School is unknown. Despite the physical closure of the School, the School has been able to serve its pupils effectively throughout the period by offering a full and comprehensive distance learning programme. Management have reviewed and reduced costs for the period April to August 2020 and have produced financial models showing the revised cash flows and future budgets, which have subsequently been reviewed by the Board of Governors. As part of their normal risk management process, the Governors have examined the major risks to the School and the mitigating actions both taken and available to be taken. The Governors consider there are no material uncertainties relating to going concern and that the School has adequate resources to continue its activities for at least the twelve months to 31 December 2021. Accordingly, they continue to operate the going concern basis in preparing the financial statements.
## **b) Fees and similar income**
Fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances and other remissions allowed by the school. Fees received in advance of education to be provided in future years under an Advance Fee Payment Scheme Contract are held until either taken to income in the term when used or else refunded.
## **c) Donations and grant income**
Voluntary incoming resources are accounted for as and when the entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable. Voluntary income received for the general purposes of the School is accounted for as unrestricted and is credited to unrestricted funds. Voluntary income subject to specific wishes of the donors are carried to the relevant restricted fund.
During the year the Charity received £119,657 from the UK Government under the Coronavirus Job Retention Scheme.
Page 17
**THE ST. GABRIEL SCHOOLS FOUNDATION STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2020**
## **2. ACCOUNTING POLICIES (continued)**
## **d) Other incoming resources**
Other incoming resources are included in the Statement of Financial Activities when the School is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **e) Resources expended**
Expenditure is accrued as soon as a liability is considered probable. Expenditure attributable to more than one cost category in the SOFA is apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff time or activity logging as appropriate. The irrecoverable element of VAT is included within the item of expense to which it relates.
Costs of charitable activities are those costs incurred in providing an education and running the school in accordance with the objects and aims of the charity.
Governance costs comprise the cost of running the charity to include those that provide the governance infrastructure that allows the school to operate and to generate the information required for public accountability. These include strategic planning for future developments, external audit, any legal advice to the school’s governors and all the costs of complying with constitutional and statutory requirements such as the costs of board and committee meetings and of preparing statutory accounts and of satisfying public accountability.
## **f) Tangible Fixed Assets**
Expenditure on the acquisition of land, buildings, vehicles, furniture, ICT equipment and infrastructure and other equipment costing more than £2,500 is capitalised and carried in the balance sheet at historical cost. Other expenditure on equipment incurred in the normal day to day running of the School is charged to the Statement of Financial Activities as incurred.
With the exception of the Farmhouse currently at historical cost, from 1 August 2015 the School has applied the ‘deemed cost’ provisions of FRS102 in that valuations of previously revalued land and buildings will no longer be renewed.
## **g) Intangible Fixed Assets**
Website software is capitalised at purchase cost where there is an expectation of future economic benefit deriving from the on-line registration process. Costs associated with maintaining the computer software are recognised as an expense when incurred.
The website software is subsequently carried at cost less accumulated amortisation and accumulated impairment losses. The costs are amortised to the income and expenditure account using the straight-line method over the estimated useful life of three years.
The amortisation period and amortisation method of intangible assets are reviewed at least each balance sheet date. The effects of any revision are recognised in the income and expenditure account when the changes arise.
Page 18
**THE ST. GABRIEL SCHOOLS FOUNDATION STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2020**
## **2. ACCOUNTING POLICIES (continued)**
## **h) Depreciation**
Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated residual value based on current market prices, in equal annual instalments over their expected useful economic lives as follows:
Freehold Land Nil Freehold buildings Straight line over 50 years Computer Equipment and other similar equipment Straight line over 3 years Electronic and Infrastructure equipment Straight line over 5/7 years Playground facilities Straight line over 10 years Furniture and equipment for new building 20% on reducing balance Furniture and equipment 15% on reducing balance Motor Vehicles Straight line over 4 years Kitchen equipment Straight line over 7 years
## **i) Leased assets**
Operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.
Assets obtained under hire purchase contracts or finance leases are capitalised within the balance sheet and are depreciated over their useful economic lives. The interest element of these leases is charged to the statement of financial activities account over the lease period. The capital element of the future payments is treated as a liability.
## **j) Fund accounting**
**Unrestricted** income belongs to the School’s general operational funds, spendable at the discretion of the Governors either to further the School’s objects or to benefit the School itself.
**Restricted** income comprises gifts and donations where the donor has specified the gift to be used for a specific purpose.
**Endowed** funds are the original property from which the school operated in 1947. The use of the property is restricted in accordance with terms of the Trust Deed of 1974.
## **k) Stock**
Stock is carried at the lower of cost and net realisable value.
## **l) Parents’ deposits**
The Governors have reviewed the contract terms under which Pupil fee deposits are held by the School. Although under normal circumstances these will be repaid over future years when the pupils complete their education at the school, pupils can leave at earlier dates. The School does not therefore have an unconditional right to retain the individual deposits for at least 12 months after the balance sheet date and, in line with the requirements in FRS 102, the balance of the deposits held has been included within current liabilities.
Page 19
**THE ST. GABRIEL SCHOOLS FOUNDATION STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2020**
## **2. ACCOUNTING POLICIES (continued)**
## **m) Pensions**
Retirement benefits to employees of the School were provided through three pension schemes, one defined benefit and two defined contribution schemes.
- (a) The Teachers’ Pension Scheme – This scheme is a multi-employer pension scheme. It is not possible to identify the School’s share of the underlying assets and liabilities of the Teachers’ Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS 102, the School accounts for the scheme as if it were a defined contribution scheme. The School’s contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable.
- (b) St. Gabriel’s Group Personal Pension Plan – This is a defined contribution group personal pension plan with Royal London for non-teaching staff. Employer’s pension costs are charged in the period in which the salaries to which they relate are payable. This scheme replaced the defined contribution scheme with Clerical Medical in May 2016, which was a group money purchase scheme.
## **n) Financial instruments**
Basic financial instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at amortised cost. Note 26 provides more information on financial instruments where future cash flows are anticipated, with financial assets referring to cash, debtor balances excluding prepayments, and financial liabilities referring to all creditor balances excluding deferred income and social security and other taxes.
## **3. Critical accounting judgements and key sources of estimation uncertainty**
In application of the accounting policies, Trustees are required to make judgement, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.
The Governors consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.
Page 20
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **4. INCOMING RESOURCES**
|Fees receivable consist of:
Gross fees
Less: Scholarships, Bursaries and Allowances|**2020**
**£**
**5,591,645**
**(489,871)**
**5,101,774**|_2019_
_£_
_6,181,728_
_(448,303)_
_5,733,425_|
|---|---|---|
Scholarships, bursaries and other awards were paid to 81 _(2019: 75)_ pupils. Within this means-tested bursaries totalling £358,429 _(2019: £296,552)_ were paid to 41 _(2019: 22 pupils)._
|**.**
**ANCILLARY TRADING INCOME**
Music fees and additional sessions
Grant funding for individual fees
Registration fees and fees in lieu of notice
School bus
Recoverable expenses and school trips
Café takings and other income including late surcharges
**6.**
**NON ANCILLARY TRADING INCOME**
Hire of facilities
**7.**
**GRANTS AND DONATIONS**
Parent Teacher Association
Chartwells release of capital grant
Parents, staff and alumni for theatre plaques
Other donations
Coronavirus Job Retention Scheme Grant||**2020**
**£**
**115,371**
**17,841**
**15,819**
**87,528**
**90,588**
**54,308**
**381,455**
**2020**
**£**
**23,032**
**2020**
**£**
**4,203**
**7,941**
**-**
**12,081**
**119,657**
**143,882**|_2019_
_£_
_129,528_
_16,674_
_24,645_
_137,771_
_206,973_
_37,589_
_553,180_
_2019_
_£_
_39,206_
_2019_
_£_
_43,334_
_7,941_
_75_
_210_
_-_
_51,560_|
|---|---|---|---|
|||||
|||||
|||||
## **5.**
Page 21
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **8. TOTAL RESOURCES EXPENDED**
|Staff Costs
£
**Charitable Expenditure**
Teaching costs
3,919,980
Welfare costs
50,819
Premises costs
217,299
Support costs
480,028
4,668,126
**Cost of generating funds**
Finance costs (note 10)
-
4,668,126
**Governance included in support costs**
Auditors remuneration
Auditors remuneration –
other services
Governors expenses
Other governance costs|Depreciation
£
71,285
15,129
160,047
46,958
293,419
-
293,419|Other
£
223,058
290,502
361,586
353,439
1,228,585
80,560
1,309,145|**Total**
**2020**
**£**
**4,214,323**
**356,450**
**738,932**
**880,425**
**6,190,130**
**80,560**
**6,270,690**
**2020**
**£**
**13,750**
**1,675**
**83**
**18,692**
**34,200**|_Total_
_2019_
_£_
_4,193,229_
_436,280_
_780,517_
_1,051,402_
_6,461,428_
_67,676_
_6,529,104_
_2019_
_£_
_12,560_
_1,350_
_1,738_
_16,714_
_32,362_|
|---|---|---|---|---|
**Governance included in support costs**
Travel and course expenses amounting to £83 _(2019: £1,738)_ were reclaimed by 1 member _(2019: 5)_ of the governing body.
Page 22
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **8. RESOURCES EXPENDED 2019 (continued)**
|_Staff Costs_
_Depreciation_
_£_
_£_
_Charitable Expenditure_
_Teaching costs_
_3,858,196_
_88,564_
_Welfare costs_
_46,225_
_15,928_
_Premises costs_
_230,050_
_137,292_
_Support costs_
_464,901_
_50,446_
_4,599,372_
_292,230_
_Cost of generating funds_
_Finance costs (note 10)_
_-_
_-_
_4,599,372_
_292,230_
**9.**
**STAFF COSTS**
Wages and salaries
Social security costs
Pension contributions
Agency and other costs
**Total Staff costs**
The average number of employees in the period was:
Teaching staff
Support staff|_Other_
_£_
_246,469_
_374,127_
_413,175_
_536,055_
_1,569,826_
_67,676_
_1,637,502_|
|_Total_
_2019_
_£_
_4,193,229_
_436,280_
_780,517_
_1,051,402_
_6,461,428_
_67,676_
_6,529,104_
**2020**
**£**
**3,628,345**
**313,152**
**651,490**
**4,592,987**
**75,139**
**4,668,126**
**No.**
**123**
**30**
**153**|_Total_
_2018_
_£_
_3,850,055_
_412,026_
_776,552_
_1,003,335_
_6,041,968_
_47,015_
_6,088,983_
_2019_
_£_
_3,615,562_
_301,355_
_489,402_
_4,406,319_
_193,053_
_4,599,372_
_No._
_120_
_32_
_152_|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
||||||
||||||
Page 23
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **9. STAFF COSTS (CONTINUED)**
|The number of employees whose emoluments exceeded £60,000 were:
£60,000 - £70,000
£70,000 - £80,000
£100,000 - £110,000
Number of higher paid employees contributing to a pension scheme
Total cost of employer’s contributions in relation to the above|**2020**
**No.**
**1**
**1**
**1**
**3**
**£ 49,594**|_2019_
_No._
_1_
_1_
_1_|
|---|---|---|
|||_3_|
|||_£ 36,749_|
The governors received no remuneration or other benefits for the year.
Key management personnel includes the governors and officers listed on page 1. Key management personnel received aggregate remuneration (including employer’s pension, employers National Insurance and Benefits in Kind) of £403,935 ( _2019: £373,228_ ).
During the year, the School paid redundancy costs totalling £3,048 _(2019: £nil)_ . The nature of the payment in 2020 was statutory redundancy pay for one employee. There was no further funding provision at the balance sheet date.
## **10. FINANCE**
|Bank loan interest
Bank charges
Hire Purchase interest
Other interest
Bad debts written off
Bad debts provision/(release)
**ET INCOME**
**Net income is stated after charging:**
Depreciation - owned assets
Depreciation - assets under hire purchase
Operating leases|**2020**
**£**
**52,205**
**3,597**
**1,271**
**-**
**802**
**22,685**
**80,560**
**2020**
**£**
**278,402**
**15,017**
**39,178**|_2019_
_£_
_51,045_
_16,313_
_1,271_
_13_
_4,719_
_(5,685)_|
|---|---|---|
|||
_67,676_
_2019_
_£_
_277,213_
_15,017_
_42,781_|
## **11. NET INCOME**
Page 24
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **12. INTANGIBLE FIXED ASSETS**
|**Cost**
1 August 2019
Additions at cost
31 July 2020
**Amortisation**
1 August 2019
Charge for the year
31 July 2020
**Net book values**
31 July 2020
_31 July 2019_|**Website**
**£**
9,750
-
9,750
2,699
3,250
5,949
3,801
_7,051_|**Total**
**£**
**9,750**
**-**
**9,750**
**2,699**
**3,250**
**5,949**
**3,801**
**_7,051_**|
|---|---|---|
## **13. TANGIBLE FIXED ASSETS**
The Freehold Property shown in the Accounts is (i) a 1983 permanent endowment owned by a _**special trust**_ , the S Gabriel and Falkland S Gabriel Charity, (previously registered as Charity Number: 325060), now administered by the Company as sole corporate trustee, and (ii) subsequent improvements to the School buildings made out of unrestricted funds owned by the Company as _**corporate property**_ , as indicated below.
Under a scheme approved by the Charity Commission, on 4 October 1991, Clause 2(1) and (2) of the scheme makes the following provision:
Trustee and vesting
- (1) The body corporate called The St. Gabriel Schools Foundation shall be the Trustee of the Charity.
- (2) The land with the buildings thereon specified in the schedule hereto is hereby vested in the said body corporate for all the estate and interest therein belonging to or held in trust for the Charity.
The Proprietor of the Property as set out in the HM Land Registry Property Register dated 2 April 1992 is therefore “The St. Gabriel Schools Foundation”. The property is pledged as security for certain lending provided by the National Westminster Bank Plc with the consent of the Charity Commission.
Page 25
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **13. TANGIBLE FIXED ASSETS (continued)**
|**Deemed Cost**
1 August 2019
Transfer of assets
Additions at cost
Disposals at cost
31 July 2020
**Depreciation**
1 August 2019
Charge for year
Adjustment on disposal
31 July 2020
**Net book values**
**31 July 2020**
_31 July 2019_|**Freehold**
**Land and**
**Buildings**
**£**
4,775,000
-
-
-
4,775,000
534,549
90,615
-
625,164
**4,149,836**
_4,240,451_|**Freehold**
**Improvements**
**£**
173,512
-
-
-
173,512
6,073
3,470
-
9,543
**163,969**
_167,439_|**Furniture**
**and**
**Equipment**
**£**
1,771,743
32,950
152,713
(59,632)
1,897,774
1,136,014
160,271
(57,740)
1,238,545
**659,229**
_635,729_|**Motor**
**Vehicles**
**£**
280,284
-
-
-
280,284
217,176
39,063
-
256,239
**24,045**
_63,108_|**Assets**
**under**
**construction**
**£**
32,950
(32,950)
28,356
-
28,356
_-_
_-_
_-_
_-_
**28,356**
_32,950_|**Total**
**£**
**7,033,489**
**-**
**181,069**
**(59,632)**|
|---|---|---|---|---|---|---|
|||||||**7,154,926**
**1,893,812**
**293,419**
**(57,740)**
**2,129,491**
**5,025,435**
_5,139,677_|
Page 26
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **13. TANGIBLE FIXED ASSETS (CONTINUED)**
From 1 August 2015 the School has applied the ‘deemed cost’ provisions of FRS102 in that valuations of previously revalued land and buildings will no longer be renewed.
The deemed cost as at 1 August 2015 is represented by:
|Historical costs less depreciation
Valuation increase 1993
Valuation increase 1994
Valuation increase 2000
Valuation increase 2003
Valuation decrease 2008
Valuation decrease 2013
Sandleford Farmhouse
**Total**|**Freehold**
**Property**
**Endowment**
**£**
**325,450**
**361,015**
**147,714**
**267,412**
**19,460**
**(263,679)**
**(190,185)**
-
**667,187**|**Freehold**
**Property**
**(Corporate**
**Property)**
**£**
**3,895,654**
**644,753**
**115,072**
**295,002**
**37,507**
**(897,902)**
**(907,273)**
**925,000**
**4,107,813**|**Total**
**£**
**4,221,104**
**1,005,768**
**262,786**
**562,414**
**56,967**
**(1,161,581)**
**(1,097,458)**
**925,000**
**4,775,000**|
|---|---|---|---|
Depreciation relating to the Freehold Property Endowment totalling £8,683 has been charged directly to the Endowment Fund.
## **Finance Leases and Hire Purchase contracts**
Included in the above are assets held under finance leases and hire purchase contracts which have net book values of £nil _(2019: £15,017)_ . Depreciation of £15,017 _(2019: £15,017)_ was charged during the year.
## **14. FIXED ASSET INVESTMENTS**
|**COST**
Unlisted investments at 31 July 2019 and 31 July 2020|**2020**
**£**
**1**|_2019_
_£_
_1_|
|---|---|---|
The School owns 100% of the ordinary share capital and voting rights of St. Gabriel’s Sports Centre Limited. The St Gabriel’s Sports Centre Limited was dormant throughout the period under review. The registered office of St Gabriel’s Sports Centre is St Gabriel’s School, Sandleford Priory, Newbury, Berkshire, RG20 9BD.
Page 27
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **15. DEBTORS**
|Trade debtors
Other debtors
Prepayments
**16.**
**CREDITORS**: Amounts falling due within one year
Bank loans and overdrafts (Note 18)
Finance Lease and Hire Purchase contracts (Note 20)
Trade creditors
Deposits held
Social security & other taxes
Other creditors
Accruals
Capital Grant (Note 21)
Advance fees (Note 19)
Deferred income – fees billed in advance
**17.**
**CREDITORS**: Amounts falling due after more than one year
Bank Loans and Overdrafts (Note 18)
Capital grant (Note 21)
Advance fees (Note 19)|**2020**
**£**
**1,550,555**
**46,302**
**155,321**
**1,752,178**
**2020**
**£**
**34,178**
**-**
**151,957**
**143,900**
**84,924**
**94,574**
**58,211**
**1,986**
**6,876**
**1,579,354**
**2,155,960**
**2020**
**£**
**1,537,715**
**-**
**-**
**1,537,715**||_2019_
_£_
_1,578,385_
_19,321_
_166,922_
_1,764,628_
_2019_
_£_
_88,903_
_12,624_
_205,255_
_134,725_
_83,178_
_84,251_
_85,406_
_7,941_
_49,324_
_1,603,289_
_2,354,896_
_2019_
_£_
_1,533,882_
_1,986_
_808_
_1,536,676_|
|---|---|---|---|
|||||
|||||
Page 28
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **18. LOANS AND OVERDRAFTS**
|An analysis of the maturity of loans and overdrafts is as follows:
Amounts falling due within one year or on demand
Bank loans
Amounts falling due within one year - Total
Amounts falling due between one and two years - Bank loans
Amounts falling due between two and five years - Bank loans|**2020**
**£**
**34,178**
**34,178**
**91,857**
**1,445,858**
**1,571,893**|_2019_
_£_
_88,903_|
|---|---|---|
|||_88,903_
_91,988_
_1,441,894_|
|||_1,622,785_|
A loan of £2,100,000 was taken out in January 2014 to replace another loan and cover the purchase of Sandleford Farmhouse. Interest is charged at 2.1% above the bank base rate. The repayment schedule is based on a payment plan over 20 years of interest and capital. The loan is committed for 5 years and subject to renegotiations or repayment at that stage. The 5 year renegotiation was in January 2019 and this loan was repaid on 30 January 2019.
A loan of £1,675,000 was taken out on 30 January 2019 under the National Westminster Bank Plc's Fixed Rate Loan Terms. Interest is charged at 3.28% per annum. The instalment amounts are based on a 15 year period from the 30 January 2019, but the actual term of the loan is 5 years.
The School has taken a repayment holiday on the capital instalments from April 2020 to March 2021.
All loans and overdrafts are secured by a mortgage and legal charge dated 11 October 2004 and 31 January 2014 respectively in the favour of National Westminster Bank Plc over the freehold land and buildings of St Gabriel's School, Sandleford Priory, Newtown Road, Newbury and Sandleford Farmhouse, Sandleford Priory, Newtown, Newbury.
Page 29
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **19. ADVANCE FEE PAYMENTS**
Parents may enter into a contract to pay the school tuition fees in advance. The money may be returned subject to specific conditions on the receipt of one term’s notice. Assuming pupils will remain in the school, advance fees will be applied as follows:
|||**2020**||_2019_|
|---|---|---|---|---|
|||**£**||_£_|
||Within 1 to 2 years||**-**|_808_|
||Within 1 year|**6,876**||_49,324_|
|||**6,876**||_50,132_|
||The balance represents the accrued liability under the contracts. The|movements during the|||
||year were:-||||
||Balance at 1 August 2019|**50,132**||_41,851_|
||New contracts||**-**|_75,703_|
||Amounts accrued to contracts|**50,132**||_117,554_|
||Amounts utilised in payment of fees to the school|**(43,256)**||_(65,211)_|
||Amounts repaid||**-**|_(2,211)_|
||**Balance at 31 July 2020**|**6,876**||_50,132_|
|**20.**|**FINANCE LEASES AND HIRE PURCHASE OBLIGATIONS**||||
||Finance lease and hire purchase contracts are repayable as follows:||||
|||**2020**||_2019_|
|||**£**||_£_|
||Within 1 year||**-**|_12,624_|
||Between 2 and 5 years||**-**|_-_|
||||**-**|_12,624_|
|**21.**|**CAPITAL GRANT**||||
||Capital grant is repayable as follows:||||
|||**2020**||_2019_|
|||**£**||_£_|
||Within 1 year|**1,986**||7,941|
||Between 2 and 5 years||**-**|1,986|
|||**1,986**||_9,927_|
Page 30
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **22a. ENDOWED FUNDS**
The S Gabriel and Falkland S Gabriel Schools Charity own the permanent endowment. Under the 1991 scheme (see Note 13) the endowment would have been handed over to continuing trustees of the S Gabriel and Falkland S Gabriel Schools in the event of the Foundation ceasing to operate the school. It is therefore shown as trust property (Endowed Funds).
## **22b. RESTRICTED FUNDS**
|**2020**
Theatre seating plaques
_2019_
Theatre seating plaques
**22c.**
**UNRESTRICTED FUNDS**
**2020**
**Designated Funds:**
M Frenkel Fund
**General Fund**
_2019_
_Designated Funds:_
_M Frenkel Fund_
_General Fund_|_2019_
_£_
_-_
_-_
_2018_
_£_
_1,900_
_1,900_
_2019_
_£_
_410_
_4,150,645_
_4,151,055_
_2018_
_£_
_420_
_4,291,785_
_4,292,205_|**Incoming**
**resources**
**£**
**-**
**-**
_Incoming_
_resources_
_£_
_-_
_-_
**Incoming**
**resources**
**£**
**-**
**5,650,143**
**5,650,143**
_Incoming_
_resources_
_£_
_-_
_6,377,371_
_6,377,371_|**Outgoing**
**Resources**
**£**
**-**
**-**
_Outgoing_
_Resources_
_£_
_(490)_
_(490)_
**Outgoing**
**Resources**
**£**
**(10)**
**(6,261,997)**
**(6,262,007)**
_Outgoing_
_Resources_
_£_
_(10)_
_(6,519,921)_
_(6,519,931)_|**Transfers**
**£**
**-**
**-**
_Transfers_
_£_
_(1,410)_
_(1,410)_
**Transfers**
**£**
**-**
**-**
**-**
_Transfers_
_£_
_-_
_1,410_
_1,410_|**2020**
**£**
**-**
**-**
_2019_
_£_
_-_
_-_
**2020**
**£**
**400**
**3,538,791**|
|---|---|---|---|---|---|
||||||
**3,539,191**
_2019_
_£_
_410_
_4,150,645_
_4,151,055_|
Page 31
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **23. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**2020**
**Intangible**
**Assets**
**Fixed**
**Assets**
**Net**
**Current**
**Assets**
**£**
**£**
**£**
Endowment Funds
**-**
**606,406**
**-**
Restricted Funds
**-**
**-**
**-**
Unrestricted Funds
**3,801**
**4,419,030**
**654,075**
**3,801**
**5,025,436**
**654,075**
_2019_
_Intangible_
_Assets_
_Fixed_
_Assets_
_Net Current_
_Assets_
_£_
_£_
_£_
_Endowment Funds_
_-_
_615,089_
_-_
_Restricted Funds_
_-_
_-_
_-_
_Unrestricted Funds_
_7,051_
_4,524,589_
_1,156,091_
_7,051_
_5,139,678_
_1,156,091_
**24.**
**CAPITAL COMMITMENTS**
Future expenditure not otherwise included in these accounts
Contracted for
**25.**
**OPERATING LEASE COMMITMENTS**|**2020**
**Intangible**
**Assets**
**Fixed**
**Assets**
**Net**
**Current**
**Assets**
**£**
**£**
**£**
Endowment Funds
**-**
**606,406**
**-**
Restricted Funds
**-**
**-**
**-**
Unrestricted Funds
**3,801**
**4,419,030**
**654,075**
**3,801**
**5,025,436**
**654,075**
_2019_
_Intangible_
_Assets_
_Fixed_
_Assets_
_Net Current_
_Assets_
_£_
_£_
_£_
_Endowment Funds_
_-_
_615,089_
_-_
_Restricted Funds_
_-_
_-_
_-_
_Unrestricted Funds_
_7,051_
_4,524,589_
_1,156,091_
_7,051_
_5,139,678_
_1,156,091_
**24.**
**CAPITAL COMMITMENTS**
Future expenditure not otherwise included in these accounts
Contracted for
**25.**
**OPERATING LEASE COMMITMENTS**|**Creditors**
**> one year**
**£**
**-**
**-**
**(1,537,715)**
**(1,537,715)**
_Creditors_
_> one year_
_£_
_-_
_-_
_(1,536,676)_
_(1,536,676)_
**2020**
**£**
**-**||**Total**
**£**
**606,406**
**-**
**3,539,191**
**4,145,597**
_Total_
_£_
_615,089_
_-_
_4,151,055_
_4,766,144_
_2019_
_£_
_127,607_|
|---|---|---|---|---|
||||||
At 31 July 2020 the school had future minimum lease payments under non- cancellable operating leases as follows:
|Within one year
Between two and five years|**2020**
**£**
**38,843**
**42,124**
**80,967**|_2019_
_£_
_39,021_
_79,690_
_118,711_|
|---|---|---|
Page 32
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **26. FINANCIAL INSTRUMENTS**
Financial assets held at amortised cost are trade debtors, other debtors, amounts due from the subsidiary company, and cash at bank.
Financial liabilities held at amortised cost are bank loans, trade creditors, other creditors, and accruals.
|**2020**
**£**
Financial assets measured at amortised cost
**2,654,556**
Financial liabilities measured at amortised cost
**2,022,521**
The school’s income, expense, gains and losses in respect of financial instruments are
below:
Interest expense for financial liabilities held at amortised cost
**53,476**
Impairment loss/(gain).
**22,685**
**27.**
**RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT**
**2020**
**£**
(Decrease) in cash in the year
**(685,568)**
Loan repayments
**50,892**
Change in net debt
**(634,676)**
Net funds at 1 August
**120,482**
**NET (DEBT)/FUNDS AT 31 JULY**
**(514,194)**|_2019_
_£_
_3,340,973_
_2,154,973_
summarised
_52,316_
_(5,685)_
_2019_
_£_
_(241,342)_
_81,732_
_(159,610)_
_280,092_
_120,482_|
|---|---|
## **28. ANALYSIS OF CHANGE IN NET DEBT**
|Cash at bank and in hand
Loans|_Net debt as_
_at 1 August_
_2019_
_£_
_1,743,267_
_(1,622,785)_
_120,482_|Cash
Change
£
(685,568)
50,892
(634,676)|**Net funds as**
**at 31 July**
**2020**
**£**
**1,057,699**
**(1,571,893)**
**(514,194)**|
|---|---|---|---|
Page 33
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **29. RELATED PARTY TRANSACTIONS**
Mr Dove (Head of Junior School) has one child at the School and is in receipt of the standard staff discount, which amounted to £7,010 (2019: £7,167).
Mrs Heywood (Governor) has three children at the School and is in receipt of a sibling discount which amounted to £14,247 (2019: £13,826). The discount was awarded before Mrs Heywood was appointed as a Governor and was made in accordance with the School policies at that time.
Mrs Bowen (Governor) has a daughter employed at the School under a standard contract of employment. Mrs Bowen was not included in awarding the contract.
During the year, Mr Garland (Governor) ran an event on behalf of the Rotary Club in our facilities. All costs incurred by the School were reimbursed amounting to £302.
## **30. PENSION COSTS**
## **Defined Benefit Scheme**
The School participates in the Teachers' Pension Scheme (England and Wales) ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £549,755 (2019: £398,387) and at the year-end £66,980 (2019: £53,194) was accrued in respect of contributions to this scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.
The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions including the Teachers’ Pensions.
On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal’s judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court’s decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. A consultation was launched by the government on 16 July 2020, closed to responses on 11 October 2020.
Page 34
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **30. PENSION COSTS (continued)**
The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020 and the government is preparing to complete the cost control element of the 2016 valuations, which is expected to be completed in 2021.
In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation.
Until the consultation and the cost cap mechanism review are completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements.
In addition to the above, the company operates a defined contribution pension scheme. The assets of the plans are held separately from those of the company in separately administered funds. Contributions totalling £101,735 (2019: £91,015) were payable to these funds for the year.
Page 35
**THE ST. GABRIEL SCHOOLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **31. COMPARATIVE 2019 STATEMENT OF FINANCIAL ACTIVITIES**
|_INCOME FROM_
_Charitable activities:_
_School fees receivable_
_Ancillary Trading income_
_Generating funds:_
_Non-ancillary trading income_
_Voluntary income:_
_Donations_
_Total_
_EXPENDITURE ON_
_Charitable Activities:_
_School operating costs_
_Raising funds:_
_Finance costs_
_Total_
_Net income/(expenditure)_
_before transfers_
_Transfers_
_Net movement in funds_
_Funds balances 1 August 2018_
_Funds balances 31 July 2019_|_Unrestricted_
_Funds_
_£_
_5,733,425_
_553,180_
_39,206_
_51,560_
_6,377,371_
_6,452,255_
_67,676_
_6,519,931_
_(142,560)_
_1,410_
_(141,150)_
_4,292,205_
_4,151,055_|_Restricted_
_Funds_
_-_
_-_
_-_
_-_
_-_
_490_
_-_
_490_
_(490)_
_(1,410)_
_(1,900)_
_1,900_
_-_|_Permanent_
_Endowment_
_Fund_
_£_
_-_
_-_
_-_
_-_
_-_
_8,683_
_-_
_8,683_
_(8,683)_
_-_
_(8,683)_
_623,772_
_615,089_|_Year to_
_31 July_
_2019_
_£_
_5,733,425_
_553,180_
_39,206_
_51,560_
_6,377,371_
_6,461,428_
_67,676_
_6,529,104_
_(151,733)_
_-_
_(151,733)_
_4,917,877_
_4,766,144_|
|---|---|---|---|---|
.
Page 36
**THE ST. GABRIEL SCHOOLS FOUNDATION INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **FOR GOVERNORS ONLY**
|**INCOMING RESOURCES**
**School Fees Receivable**
Termly fees
Nursery fees
Less scholarships, bursaries and allowances
**Ancillary Trading Income**
Additional session and music fees
Grant funding for individual fees
Registration fees, fees in lieu,
deposits retained
Recoverable expenses
School trips
School bus
Other income including café and production
income
Late payment charges
**Voluntary incoming resources**
Grants and donations
**Non Ancillary Trading Income**
Hirings
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Teaching costs:**
Salaries
Teaching equipment and training
Legal and professional fees
Hire of equipment
Insurance
Central ICT
Motor and travelling
Printing and stationery
Depreciation
Inspection
**Welfare costs:**
Salaries (including counsellor)
Catering incl small equip, equip repairs
& café equip
Medical
Pupil events
Depreciation|**2020**
_2019_
**£**
**£**
_£_
_£_
**4,953,125**
**638,520**
_5,358,233_
_823,495_
**(489,871)**
_(448,303)_
**5,101,774**
_5,733,425_
**115,371**
_129,528_
**17,841**
_16,674_
**15,819**
_24,645_
**82,985**
_135,801_
**7,603**
_71,172_
**87,528**
_137,771_
**53,907**
_36,903_
**401**
_686_
**381,455**
_553,180_
**143,882**
_51,560_
**23,032**
_39,206_
**5,650,143**
_6,377,371_
**3,919,980**
_3,858,196_
**95,417**
_111,355_
**5,635**
_307_
**9,005**
_8,022_
**14,246**
_14,475_
**82,681**
_86,135_
**1,444**
_3,106_
**9,331**
_18,258_
**71,285**
_88,564_
**5,299**
_4,811_
**4,214,323**
_4,193,229_
**50,819**
_46,225_
**275,882**
_366,969_
**4,762**
_3,666_
**9,858**
_3,492_
**15,129**
_15,928_
**356,450**
_436,280_|
|---|---|
This page does not form part of the statutory accounts
Page 37
**THE ST. GABRIEL SCHOOLS FOUNDATION INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 JULY 2020 FOR GOVERNORS ONLY**
|**Premises:**
Salaries
Repairs and renewals
Light and heat
Cleaning supplies
Rates and water
Insurance
Hire of equipment
Professional fees
Depreciation
Loss on assets written off
**Support costs:**
**General:**
Salaries
Central ICT
Printing, post and stationery and admin
Telephone
Promotional expenses
Subscriptions
Recruitment costs
Insurance
Conferences and courses
Legal and professional fees
Hire of equipment
Amortisation
Depreciation
**Direct Ancillary costs:**
Recoverable pupil
expenses/production expenses
School trips
School bus expenses
Depreciation
Drivers salaries
**Governance Costs:**
Salaries
Travel
Insurance
Audit|**2020**
_2019_
**£**
**£**
_£_
_£_
**217,299**
_230,050_
**169,349**
_195,937_
**112,768**
_136,742_
**7,643**
_10,628_
**42,172**
_44,793_
**24,954**
_21,487_
**1,908**
_1,998_
**900**
_1,590_
**160,047**
_137,292_
**1,892**
_-_
**738,932**
_780,517_
**416,419**
_401,233_
**39,203**
_40,490_
**23,710**
_38,777_
**13,500**
_12,351_
**61,343**
_54,441_
**12,518**
_12,149_
**14,242**
_32,633_
**3,389**
_3,444_
**5,422**
_5,969_
**4,187**
_10,261_
**5,592**
**3,250**
_9,556_
_2,699_
**7,895**
_11,383_
**610,670**
_635,386_
**80,459**
_117,080_
**7,391**
_68,630_
**59,138**
**49,504**
_108,648_
_39,063_
**39,063**
_50,233_
**235,555**
_383,654_
**14,105**
_13,435_
**83**
_1,738_
**1,503**
_1,517_
**18,509**
_15,672_
**34,200**
_32,362_|
|---|---|
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Page 38
## **THE ST. GABRIEL SCHOOLS FOUNDATION INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 JULY 2020 FOR GOVERNORS ONLY**
|**Total expenses relating to Charitable**
**activities**
**Costs of raising funds**
**Finance Costs:**
Bank loan interest
Bank charges
Hire purchase interest
Other interest
Bad debts written off
Bad debt provision
**Total expenditure**
**NET EXPENDITURE FROM TRADING**|**2020**
_2019_
**£**
**£**
_£_
_£_
**6,190,130**
_6,461,428_
**52,205**
_51,045_
**3,597**
_16,313_
**1,271**
_1,271_
**-**
_13_
**802**
_4,719_
**22,685**
_(5,685)_
**80,560**
_67,676_
**6,270,690**
_6,529,104_
**(620,547)**
_(151,733)_|
|---|---|
This page does not form part of the statutory accounts
Page 39