Westsninster Cathedral Choir School Annual Report and Accounts 31 August 2023 Chty Regi8trthon Nl¥r 1¢M761
Contents Reference and adminislratTrv& details of the charty ané its Corporalo Truste8 Rep)rt of the directors of the Corporate Trustee IrKlependent auditorfs rewt 12 Accounts Statement of financk91 activities 16 Balance sheet 17 Statement of cash flows 18 Pr1paI accountiry policies 19 Notes lo the accounts 23 Westminster Cathedral Choir School
Reference and administrative details of the charity and its Corporate Trustee Trustee of the charity Th8 charity is controlked by the'westminsler Roman Cathol DKwe Trusl8e' IWRCDTJ, a company limrted by guarantee. The company ¢*)e5 not Gyjnduct any Irade or business for (cs ¢y•m accx)unl arKI has no assets or liabl1les. sole purpose io aGt as trustee for a number of trusts and funds. The principal Df these is the Westminster Roman Catholic Dhxesan Trust. The Dir8caors of Westminster Roman Catholic Diocese Trustee Iherein referj to as Trusleesl are: His Eminence Cardinal V NthoL% Rt Rev J Shemngton Rt Rev N Hudson Rt Rev P MtAleenan Rev Mgr M Hayes Rev Mgr J O'Boyle MrA Ndoca Baroness N O'Loan Dome C BCN Mr K Ingram Mr E Crdston President of the School His Eminere Cardinal V Nichols Thg Board of Governor5 Chaimmn Mr Dawd Heminvray Mr Robert Enserro Mrs Kate Finch Martin Hattrell Mrs Flora Lyon {resigned 7 Juty 20231 Rev Alexander Master (Private Secretary to the Cardinal) Mr James O'Brien Mr Mike PrtlendrevJh Mr Nd( Robinson Rev Stuart Sealon Mr Nichola5 Seed (appointed 6 September 2022," Finance Director for the Diocese) Ms Maria Strauss Rev Slawomir Wrton {The Dean of Weslminsler Cathedral) Weslminster Cathedral Choir School
Reference and admlnistrdtive details of the charity and its Corpornte Trustee In a(tend at The Head IAaster- Mr Neil McLaughLan Governors. meets'ngs The Master of Music- Mr Simon Johnson" The Bursar- Mrs Joanna Stephens The Deputy Head {Paslorall - Miss Emily Auger e Director rAAdmissions- Miss LLW Auger Clerk to the Govemo Mrs Joanna Stephens Prlnclpal addrESS Westminster Cathgdral Choir School Ambrosden Avenue London SW11QH Charlty registratlon number 1(A3761 Audl¢or BlZalY)tt LLP 130 Wood Street London EC2V 6DL Banker5 HSBC Bank p 69 Pall Mall London SW1Y SEY Solicitorn Farrer & Co LLP 66 Lincoln's Inn Fld$ London WC2A 3LH Westminster Cathedral Choir School
Report of the Directors of the Corporate Ttee Year to 31 August 2023 Inlroduclion The Directors of thè Corporate Trustee (hereafter referred to a5 the Trusleesl present their slalutory report logetherwth the aCcnIS ofWeslmin$ter Cathedral Choir Schct)l (the c1)lty or School or WCCSI for the year ended 31 August 2Q23. The accrMJnts have been prepared Tn accordan WTth the oGcounts"ng policies set out on pages 19 to 22 of the attached )unIS and compty with Ihe charity's trust deed. applicablè laws and Aeeounting a1 Reporb'ng by Charits.. SLement of Rerommended Praclice applicable to charItS preparing their accounts in accordance wf(h the Financial Reporting Standard applubie Irs the UK and Republic of Ireland (FRS 102). Structure. governae and management Consttsutlon Westminster Cathedral Choir Schwl is governed by a tst deed dated 8 JUW 1997 and is registered with the Charity commiss)n, Charity Regi5trdtDn No 1063761. Westrninster Cathedral Choir School was founded by Cardinal Herbert Vaughan in 1902 to provkde boarding Choristers ané ExhibitK)ners lo sing the daity capilular I"rturgy in the then new Cathedral. In 1976 day toys were intr0dL1 and in 2017 a Pre Pf8P was ded. There were 277 boy5, aged +13. al the start of the 2022r23 year. The School is divided into nine year groups (National Cutriculurn Yeats Reception to Year 8). There are approximalety 30 boys in each year group. WCCS 15 Srtualed within the precincts of Westminster Cathra1 ar Roman CatholK by foulldaliun. The Head Master is a member of the Incorporated Associab'on of Preparatory Schoo15 (IAPSI, the Calhd¢ Indyndent SchooL%' Conference ICISCI and the Choir Schcx)Is' Assockation ICSAI. Oryantsatlon Uttimate responsibilty for the charTty I with the Directors of Westminster Roman Catholic Di0e Trustee IWICDT) (the Trustees). Trnstws and Governo The Trustees i e. the Directors of the Corp(xe Trustee are appThnt8d by the Archbishop ol INeslminster. Westminster Cathedral Choir School
Report of the Directors of the Corporats Trustee Year to 31 August 2023 Structurnp governance and managemont (conbnuedl Trustees and Governors (continu The Trustees who have been in office since 1 Septanber 2022 are as follows.. His Etninenr£ Cardinal V Nidh Rt Rev J Skn'ngion Rt Rev N Hudson Rt Rev P Mceea Rèv PhJr M Hayes Rev Mgr J O'BoOe Mr A Ndora Baroness N O'Loan Mr K Ingram Mi E Craston On agreeing to beconE a Thrector of the Corporate Trustee, the Trustee5 are thoroughty briefed by their CO-Tte8S on the history of the chaTty, the day-to4ay monagemenl. the responsibilities of the Trustees, the ¢urrenl obJ"ethes and future plans. The Trustees ar8 also encourag8d io attend any courses which they feel are relevant lo the development of their nle and to keep up-to-date on any changes in legislation. The Trustees are ultimatety res[m)n1 for the WIleS, actmties and assets of the charity. The Archbishop apwinÉs a Chaimwn of the Board of Govemors who appoints other govemors for a fixed le¥m In consumalion with the Archbishop. The Govemots work with the Trite¢S n delwmining the general dYectDn ofth8 School and operdle wrthin powers set out in an Instwment of GovernmenL They meei during the yaar to review the developments wrth regard to the charity. its aCtswI and make any important decisions. Wnen necessary, the Trustees arKVor Govemors seek and support fTDm the charrty's professional advisers including solkitors and &ctyJntants. The Bursar undertakes the day40-day management of the thartys activ[t, the IMeTnetats0 of policies. •JminElers payments and keep8 the books and recorrjs of ihe ehanty. The names of the Govemors who have wved since 1 September 2022 are given on page 1 ofthis report and accounts. At their meetings. the Govemors revEw the latest m8nagem8nt accounts induding budget forecasts. No Trustee or Govemor receN8AJ any reMneran the charity in connection wrth hislher duties as a Trustee or Covemor during the year. One Governor e1Ved reimbursement of expens8s lotalling £457 from the chatty in connettrjn with their dubes as a Governor during the year. No Trustee or.G0VerTr hwj any benefiryal interest in any contract with the charty. £5,077 was sKwl during the year on a onf event for Govèrnors and staff lo mark the retirement of a long staNling &)vernor and recognise her (Xjntributl to the School. Westminster Catheilral Choir School
Report of the Dlrectors of the Corporate Twstee Year to 31 August 2023 Structurn. govornanca and ManageThnt {cOrth"nU> Respon51bilities of the Tntstees The Trustees are responsible for preparing the Annual Rewrt and Accounts in %cordanc8 wrth applicable law and United lfjngdcxn Accounting StarKlards (United Kingdom Generalty A¢Gepled A{Jntin9 Practice). The law applKable lo chantw in EngLand al Wath requires the Trustees to prepare accounts for each financkql year whKh gNe a true and fair view of the state of affairs of thè charity and of the income and experKIrf(ure of the chanty for that rK)d. In pparing these accounts, the Trust are required to" + 8dect Suitab counting polries and then appty them consistently: + cisserve the methods and pnnciples in Accounting and Reporting by CharitEs.' Statement of Recommended prac1 applicab to charitiès preparing their accounts in accordance with the Financial Reporting Standard apprable In the UK and Republic of Ireland IFRS • make JLHJgements and 8stimates Ihal are reasonable and prudent. + slate whether applble Unrted KIngdn Accounting Standards have been foll¢Med, subject to any matwial departures disclosed and explained in the aounts.. and • prepare th8 accounts on the going concern basis unths il is inappropriate to presume that the chanty will ¢))ntinue In OpetiOn. The Trust88s are responsib for keewng pioper acc4)unting records that disclose wrth reasonable accLJf8cy at any time Ihe financial posrtTrc)n of the charity and enable them to ensure that the accounts comptywrth the Charibes Act 2011, the applicab Charity {AnIS and Reports) Regulations and the provisions of the trust deed. They are aL80 responsible for safeguarding ihe assets of the charity and hence for tsking reasonable steps for the pr&venlion and dettKIn of frdud arKJ other iTregu18fit. Key managementpepsonnel The Tnjstees and Govemors COnser that they. together wilh the Senior Management Team ISMTI, comprise th8 key rrAnagemenl ot the charty in charge of directiny and controlling. running and ¢)perating the Schcrt)l. As noted atx)ve. nether the Trust8es rK)r the Govermors receive any remunerats.on in respect lo their seThw. The Govemors meet at least once a 18mi and ther& is regular fom)al and infom1 Communicat bets¥een the Govemors, the Trustee5 and members of the SMT. Day lo manajement of the Schwl the responsibilty of th8 S&nior Management Team. Thi5 consists of the Head Master. Deputy Head (Pastorall, Head of Pre-Prep, Deputy Hèad IAcemic} (also Head of Boarding), Director of Studies. Director of Admissions and Bursar. The SMT meets weekty lo discuss any operab'onal. safeguarding or staff matters. Weslminster Cathedral Choir School
Report of the Dlrectors of the Corporate Tntee Year to 31 August 2023 structures governance and management (conb'nued} Keymanagem8rtPefsonnel fconts'nued) The Mneraln of menknrs of the SMT revWed annualty by the Govemors, Remuneration Commiiiee. This Ccxmmiltee $*yerS market pay levels lusing external suryey data wher8 availab1, indNKlual perfc¥mance over the year and any changes in responsibilrts Those members of the S[ that also leach will have a portion of their saLary delemined by the main leachro pay sca. The Trustees delegate risk margent toth8 Schcd's Goveming Bc¥ty-prineipal through rts Pastoral and FInart Committees. Wtth et tern. The SclN)ol is also represented al the HeaMh, Safety and Fire Commiitee of the Westminster Rc¥nan Catholic Diocesan Trust. Risks are Kjentified 8nd assess8d. and conlroL% establish& thruughout the year. The key conlroL% used by the Schwl include.. Formal agendas for all committ88 medings • StrategK planning. budgeting and Man accounting Established organisabonal structure and lines of repcrting + Fonal written pol8, including safeguarding and child protection + Clear aulhortsa11¢ and appVal levds maintenan of a risk register Through the risk management procAsses &stalshed for the School, the Governors are satisfEd that the Thp4or risks identled have been mitsgaled. 11 is recognised that systems can only Pfovide rèasonable but noi absolute assuran that major risks have been adequately managed. prtnclpal risks and tsncertalnJes The prirKipal risks arKI uncertainties fng the charity are detailed in a rtsk register. The principal risks and the strategies applied by the Trustees and Govemors for rnanaging these are outlined be)w. Westminster Cathedral Choir School
Report of the Directors of the Corporate Ttee Year to 31 August 2023 Structure. governance and management (ctin) Prfncipal iisks and uncertwnties (continuedj • Saleguanllng." ComlanCe with safeguwdiTh3 reguktion is a key management concern because of the associated reputab'onal risk for non-cofnpliance. The School has a DesKJnaké Safeguarding Lead ané a Saf8guardir¥J Govemor Ytho is responsibl8 for ensuring the policies and proc&Jures ccryty vith the latest Independent Schools Inspectorate (ISI) regulations and K98ng Chrfdlpn Safo in Edtsralion, and are implefflenled in all aspects of the Schwl's ¢weration. Al¢e is sought from Westminster Local Authorty DeSnated OffKer {LADOI as apprcyriate. All staff are su"eet to an enhand DBS check. Each nwnber of staff receives safeguarding training at induction anil this is repealed annualty * staff INSET training. The Senbjr Management Team receives additional training on safer recruitment. The Deputy Head (Paslorall and Designated Safeguarding Lead report any pastoral Of safgguarding matters to the SMT weekty. and to the Govemor5' Pastoral Committee and full Govemors, meetings lermly. • Fall in pupil numbets.- A reduction in pupil numbers would f8suII in a fall In income Whh, over Ihe long lemi, could afft the overall financial seBurty of the School. The School benefrts from a slrong market pos((K)n, and demand for places is high. The School cafftfulty monitors registration numbers to ensure any deterK)ration of Ihis position is quickly hlentrfie(l and addressed. The existence of the Pr8-Prep Substantial reduces the School's rdiance on a small, and 1ndling. number of Pre-Prep feeder schools, and affords the sch(11 greatercontrol of ts p11 intake. Future rnarkel changes are expected to result in a rise of 11+ exits. Thks is a PartUlar risk forthe School that needs a provisiori in year 7 & 8 lo support the choiistets in these year groups. The GovèmDf5' Strategy committee is monitorin9 the market Close and the Trustees receive regular updates from the SchcK)l on this risk. • Financial rlsk.. The charity opened a Pre-Prep for boys aged 4 10 8 in Seplember 2017. Whilst this the risk of falling pupil numbers, (( increases the financial risk as substantial rent paymen15 must be met to occupy Ihe Pre-Prep building. The rent payments are linked to bank base rate so the Sclw)ol is expDsed to interest rale risk. The annual budget and fNe-year cash fkyw are revithved regularly by the Finance Commrttee lo ensure affordabilty of rent. There is total Confiden in the charity's abilty lo meet the rent lev as interest rates inaSe and wh remains strong. • Rep(rtation8111s1(.' Th8 sch( may attrdct media interest due to the profile of both Westminster Calhedml and the W8Stminster Cathedral Choir. Inaccuratè media coverage creales a potential reputational risk for the S¢hool. The School will s88k prOfeSsnal whefe necessary to raduce th nsk and cthely monitors pijpil regisiwations to ensure that any link betsve8n adverse press coverage and pupil registration$ 15 red and addressed. • Structural risk.. There is a potenlHI for conflicts of interest lo arise between the two char(ties. the W&%tminster Roman Catholic Diccesan Trust leharty nurnber 233699} and the Westminster Cathedral Choir School (charity number 10637611. both of whiGh have the same corporate Iruslee. A confltt-of-lnleresl policy has b8@n produced by the rporate trustee getting out the prOsS for managing potential conflicts of interest L*tween the tsvo charrties. This is subject lo ongoing discussion and review. Westminster Calhedral Choir School
Report of the Directors of the Corporate Tntstee Year to 31 August 2023 sIntUr0. govemance and management Icontinu8d) Connected charty The Trustees a 81so r8s[K¥1bk for Westminster Roman CathCA Diocesan Trust, a registered charty, Charrty Registratvjn Nurtjer 233699. OLyectives and adivitles The general aims of the charty ate advarcemenl of the Roman Catholic Religion and th8 advancement of education in th8 Roman Catholic tradilvjn. The charity aims to train boys in church ch)ral music through the cper8bon of W8Stminster Cathedral Choir School. In planning the actwrties of the charrty for the ye8r, the Ttee5 and Governors have considered the gupdance on publ ben8rrt issued by the Chanty Cc¥nmission. Pupll numbws At the start of the 2022r23 a(aemic year there were 277 boys in th8 School (2021r22'. 260) of whom 22 were thoristers12021122. 21) 8rKI 255 day toys12021122: 239) TeTThly fees for 21722r23 were £6,457 for day boys in Rption - Year 212021122. £5,979), £7,204 for day ly)ys in Year 312021r22. £7.2041. £7.564 for day boys in Years 4-812021122.. £7,204) and £3.600 for choristers {2021r22'. £3.5641. Th& Gov8rnors' Finance Committee sets the of fees each year taking into consideration the cost of prowding hh standarfs of teaching. knning and pastool care. and ofmaintaining the fabric of the buildiThJ. Academlc Ilfe WCCS continued to devebp its l*J8ral &2demK curriculum. producing exclusThie resources for each subied frorn ReCeptn lo Year 8. The School Temains commrtt&J to 13+ ComtrKJn Enlrance and conb.nues to prepare boys for a range of senr sch(KJls. In 2023. the Schc¥Jl enjoyed the rr1 successful exit list in rt$ history.. Cty of London School x 5 Du1¢h College x 512 ACadern Sch)18rshps) Eton College x 6 {1 Choral Award) Harrow School x 5 King'5 Colle¢Je SehoDI. Wimbl8thJn Radley College x 3 {2 Music Exhibth"ons} St Paul's School x 3 The London Oratory SchcKJl Westminster School x 3 Winchester College. Westminster Cathedral Choir School
Report of the Directors of the Corpoyate Trustee Year to 31 August 2023 Objectives and actlvlties Iconlinued) Acad8mlc lile (continuedj The School also all the 5t8ndanls for an Independent Schools Inspectorat8 IlSI} ins'0n in June 2023. Westsminster Cathedral Choir continued a busy and varigj schedule, on of the six-day-8- week singing of the capiiular lrturgy in the Cathedral. 11 sang Even50ng wilh the choir of WeslminslerAbbay in the Abbey for the Feast of St Edward the Confessor and Vespers in Sl Paul's Cathedral during the Week of Prayer for Christian Unty. The choristers also sang at the Festival of St C119. at the Christma8 celebrath in Weslminster Cathedral, and enjoyed a succ&ssful tour to Gennany in the auiumn. as well as a doing frurtful recording 8888ion al Bu¢kfast Abbey The School arjd the local community The Schoo1 cothinues lo devote an enormous amtyjnt of lime. effort and fuTrJs to supporting s principal fomi of Publ berrf(.. 5UPPOrting Westminster Cathedral'5 worldwcla5s Choir. The choir sing5 INe In publ. at no cost lo ils thcJsands of listèners, srxtimes a Wk, al a standard univ8fsalty acknovAedged to beworkl dass. All Ihe choristers recewe generous scholarships. supported by tneans-lested bursaries. to enable this frrn of musical educalw)n to be cessJkg to any boy wth an aptiLude to sing. On top of supporliNd the Choir. the School and Parents, AssccHlion rai52d £26,000 for charities over the year. This was splrt beiween the Cardinal Cenlre, a local charity for young hom8less people. and Eyehope, a charity founded by a team Df Ophlhalmologi Consuttants al nearby St Thomas's Hosprtal and treating ey8 disease in Tanzania. Financial reviv Flnancial position The charity h& incorne during the year of £6,427,094 12022 £5,765,052). IncorTTe from tuition fees and similar charges. nel of bursaries, Iclalled £6.202,723 (2022 £5,558,163}. Dorialions and acies during the year amwnled to £197,7 {2022 - £2,8891. Included within this total was £90,IX)0 (2022- £j WO) received byway of a gr8ntfrom thewestminster Cathedral Choir School Fund (Registered Chanty Number 2768781. Bank interest was £26,404 {2022- £nill. Totsl expendf(ure arTh)unled to £5,882.5(A {2022 - £5,103.7351 wlh staff costs, rent for the Pre-Prep builjing and premises expenditure accounting for a significant proportion of this totsl. The accounts incorporate expenditure on refurbishment of thè facilities and buildings lo improve the qualty of edutr)n provwjed to the boys. The charity had net IroMe for the year of £544,588 {2022 - £661,317). Al 31 August 2023, the chanty had total net fvnds of £4.003,873 {2022 - £3.459,2851 This includes restrted funds al 31 August 2023 of £436.84512022 - £42D,7791, principalty b8ing MleS to be applth tiywarts meeting the fees of those choristers who apply ftsr a bursary. Westminster Cathedral Choir School
Report of the Directors of the Corporate Tntstee Year to 31 August 2023 Financial reviLw {ccrtinued) The Trustees and Govemors have examined the requirement for free reserves i.e. those unrestncted fuThJs not invested in tangib fixed assets, designated ot otherwse committed. The requirement for fr8e r8S8rv&s is affected by the amounts hekd in respect lo fee deposf(s (most ofWh 11 not t repayable forsoveral years}, and an accrual for rent that ?rises from the requirement to account for payments under the lease on a strdighl line basis instead of when payab. Therefore. the natu 0ftheChty'S actNrti8s is sh that th8 key performance indicator is cash ffow ratherthan the level offree re5eTves. Cash flow wll vary overthe course of each term. wrth high levels of cash being ld at th8 start of each term and then being used over the course of the temi to meet expenditure on stafl, premises and the operation of the Sch(M)l. The Trustees and Govemors are of ts Opini that at times th• charity should have sufficient cash to enable it to Me rts costs, that the cash flow Shou be sufficient lo enable the Schod to continue to invesl in the prèmis8s, facilities and equipment, lo provide SuffIent flexibdty lo cover temporary shortlalls in InMe due lo falls in pupil numbars, and to cover risks and uncertairTtE5 of cyerating as an independent educational establtshment. To this ènd sh Ilow is monitora regulaty ainSt budget and there is tight control over debt coltion and expendrtUf8. At 31 August 2023 the chatity had net currenl assets of £2,938,04612022- £2,688.0651 wth cash at bank amounting to £4,641,28012D22 - £4,155.8921. Free resetves were £2,003,701 12022 - £1,808,786). Tho Trustees and Governors believe that the financial position of the SchcK)l at this dale was acceptle arKI that Ihe cash Ilow. which is monitored closely. was adequate but r¥)t excessive. Fundraising statement The charty aims to achieve best practice in the way in which it communicates with donors and other SUPPDrters. It tskes carewth bch the tone of its communications ancl the accuracy of its d8ta to minimise the pressures on supporters. It applies best practice to protect supporters. data and rEver selLs dala., it never swaps dal8 and ensu$ thai Communi119n pr8f8rences can be changed at any tirne. The charity wnanages its own fundraising activities and does not empby the servK&s of professional fundrawrs. The charity undertakes to react to and investigate any cornplaints tpgardirKJ its fundraising *ivf(Es and lo leam from them and improve ils Ser. During the year. the charity recewed no complaints about f(s fvndraising adivrt" ies. Wesbninster Cathedral Choir School 10
Report of the Dlrectors of the Corpornte Trustee Year to 31 August 2023 Future plan5 WCCS continues to enjoy stable pupil numbers in what has become a complex and over- supplied market In central London. The charty's fecus remains on maintaining nUtrer$ in the Pre-Prep School, whh 18k8s boys from ReCepn lage 41 lo Year 3 (age 8}- In September 2017. the Pre-Prep recruited its first 29 boys" in 2022 there were 96 Ws from Reception lage 41 lo Year 3 (age 8) Sv3ned on behalf of the Directors of Westminster Roman Catholic Diocese Trustee by.. Truske Approved by the TnteeS on.. lLf Westminster Cathedral Choir School 11
Independent audltorfs report Year to 31 August 2023 Indpendent auditofs rnport to th& Dirnctors of the We5kninstgr Roman Catholi Dlocese Trust (the Trustèes) Opink)n We have audited the CoUnts of Westminster Cathedrdl Choir School (the 'charity') for th& year ended 31 August 2023 whKh compnse the statement of financial xlivilies, the balance $heeL the stalemenl of cash fk)ws. the principal accounting policies and notes to the accounts. The financial rewting framework Ihat has been applied in their pr¶tion is ¥pIable law and United ngdoM Accounling SlaThJards, including FinarKial Reporting Standard 102 'The Finanual Reporting Standard appIable in the UK and Republic of Iraland. (United KiNJdcfft G8neraltyAccepted ArutIng Practice}. In our opinion. the accounts." + grve a Inj8 and fair VEW of the state of the charity's affairs as at 31 August 2023 and of ts incoff ar eXpendrtU forth8 year then eTrJed', + have been propety prepared in accordan with Unrted Kingdom Gener81ty Acc8p18d Accounting Prle.. and + have been preparaj in xcordance with the requirements of th8 Chanties Act 2011. Basi5 foropinion We conducted our audit in &cordance with Intemath)nal Stsndards on Audiling (UK) IISAS IUKI} and 4)plice law. Our respobil.@S under those standards are further described in the audrfcorfs responsibilities for the audrt of accounts sectK)n of our report. We ar8 irvdendeDt ofthe chariiy in acCOrdar wth the ethal requirements that are relevant lo our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfillèd our other ethical SponSlI in accordan wrth these requirements. We believe that the audit evidence we have obtain1 is suffi(aenl and appropriate to provide a basis for our opinion. Conclusions rnlating to going concern In audiLing the accounts. we have concluded thatthe Tru5tees' use ofthe going concern basis of accounting in the preparion of the accounts is appropriate. Based on the work we have wforme(l. h8ve not Identff any Ivlerial uncertainties relating to events or thal, indivpjually or colleGtNety, cast swnTficant doubt on the charty's ability to conlinue as a going concem for a perK)d of at least tWee months from %then the accounts are a¥Jthortsed for issuè. Our respcmsbilities and the pOnsibIlitIeS of the Ttee5 with speCt to going conc8rn are descri in the relevant secl)ns of this rewrt. Westminster Cathedral Choir Sthool 12
Independent audltorfs report Year to 31 August 2023 Other inforniation The Trustees a respM8ible for the txher infc%mBtion. Th8 0th8r infomiation comprises the infomtstion induded in the Annual Report Aco)unts. other than the accounts and our audlcorfs report thereon. Our cpinK)n on the accounts does not cover the other infomiation and we do r1 express any fom of asSUrae conclu8ion thereon. In connection wrth our audrt of the COunts. our responsibility is to read the othér inf0rnatn arKI. in doing so. con$KJer whether the other informati)n is materialty inconsistent wilh the aoUntS or our knCh¥1ge ¢>btained in the aud(t or othernb8e appears lo be materially misstatad. If we identfy such material irOnsIstenes or apparent material misslalements. we are required to detemiirE whether there is a material misslalement in the accounts or a material misstatement of the other inft)rmation. If based on the Wofk we have performed, wé onclude that there a materHI misStatemt of this ott)er informatK)n. we are required to rep)rt that f1. We have nothing to report in thi5 regard. Matters on which arg required lo report by exception We have nothing to repjrt in respect of the following matters in relation to whh the Charities Act 2011 quires US to report lo you rf, in our Ovni.. • the informatK)n given in the Trustees. reFxNt is inconsistent in any material respect wrth the accounts., or sUfftnt *xounting recorrls have not en k8Pt". c • the accounts are not in agreernent wrth the acc(MJnting records and returns," or we have not received all the information and explanations we require for our audit. Respon5ibilitie5 of Trustsos As explained more fulty in the statwt of the re5ponsibilrtEs of the Trustees, the Trustees are responsible fDr the preparation ofthe accounls and for being satisfied that they gwe a true and fair view, and for such intemal c(N)trol as the Trustees determine is necessary to enable the preparation of accounts Ihat are free from material misstatement, whether due lo fraud or In preparing th8 accounts, the Twslees are responsib for assessing the charity's abilty lo continue as a goiny concem. dk8¢losing. as aPpIab, matters related lo gcmng conrn and using the going concem basis of accounb'ng unless the Trustees eiiher intend to liquidate the charty orto cease operations, or have no realistt aeMatiVe but to do $0. Westminster Cathedral Choir School 13
Independent auditorfs roport Year to 31 August 2023 Audltor's responsibilitiES for Ihe audlt of the accounts Our obj8Ctives are to obtain reasonab assuranc£ abcmjt whether the acciyjnts as a whole are free from mataial misslalerrtnt whether due lo fraud or error, and to Issue an auditorfs reportthat includes ¢JJr opinion. Reasonable assuran B a high level of assurance, but is not a guarantee that an audf(conducted in OrdanWIth ISAS lu willalways detect a material misstatement when it exists. Misslatements are from fraud or error and are considered material if, indmdualty or In the aggrae, they could reasonabty be expect&J lo influence the econom klOnS of users taken on the basis of these accounts. Irr8gularilies, induding fraud. are insta[$ of non-C(¥npliance wrth laws rUlatIOns. We deSn predureS in li with our tesponsibilities. outlined above, to delect material misstatements in reSpt of irregularitEs, ircluding fraud. The extent lo whh our prctedures are capable of del8caing iagularIt5, induding fraud is detailed beh)w. Our approach to hyentrfying arwj asse&gng the risks of material misststement in respt of irreguLgnties. induding fraud and non•compliance with la4VS and regUlatnS, was as folh)ws.' + we Identif thè laws and regUlatS appluble to the chTiy through discussions with those charged with artd olher management, ond frorn our knowledge and eXP8rienc8 of the sector., • we focuse(l on speGrfic laws arKI rgJuLgt¥)n8 which we consider8d may have a direct material efft on the aUnIS orthe opeRtions of the charity, including th8 Chanties Act 2011. the Finan¢k31 Rewrhng Standard applic} in the UK and RepubliG of Ireland IFRS 1021. Accounting and Reporting by Charrties. Statement of Recommended Practice applicabk tochanties preparing lheiralunts in a¢ttJrda with the Financial Reporting Standard applica)4e in the UK and Republic of Ilr1 (Charilies SORP FRS 102), and safeguar(ling r8gulations". and • we assessed the extent of compliance wrth the laws and regulations identified above through making enquirw of management and inspecting legal cOrspOndence. We corroborated our enquiries through our review of Trustees,. Govemors, and committee m#)utes. We assessed the susceptibilty of the chanty's accounts to material rnStatement, including )taining an understanding of haw ftaud might occur, by.. makiig enquiries of managemerrt as lo their knowledge of actU81. susp8d&l and alleged fraud". and • considering the intemal controls in pla to miiuate risks of fraud and non-compliance th laws and reguLqtK)ns. To address the rtsk of fraud through Inanagemt bias and ovwide of controls, we". • perfOrnd anawul PredureS to identfy any unusual or unexpected financial relatijnshps.. perfOrnd substantNe testing of eVlItre induding lesling the aulhorisation thereof,. and Westrninster Cathedral Choir School 14
Independent audltorfs report Year to 31 August 2023 Auditovs rnsponslbilllies for the audlt of th? OUnts (continued) • tested j1mal entrw to Klenbfy unusual transacitins. In response to the risk of irregularitses and non-eknmpliance with Lgws ané regulations, we designed procedures whtch induded. but were not lo. agreeing financial ststement dis¢bsures lo underfying supporting dc£um&ntation', reading the minutes of meekn.ngs of those charged with governanc8,' revwing 1 expenses incurred in the year. and enquiring of managernenl as to actual and potential Irttyion and claiffs. There are inherent limitalions in our audrt procedum described abov8 The more rernoved that and r8guktKJns are from financial transathons. the ths lthely it is that we would ecome awa of non-complian. Audrtlllg Standards also limrt the audit procedures required to Kjentify non-mplI8n¢e with laws arKI regUlatS to enquiry of the Trusl8es and other management and the inSpeCtn of reguLat(xy and legal corresponden. if any. Material misstatements that arise due to fraud can be harder lo detect th8n tls& that arise from emr as Ihey may invofve deliberate CO1rrent or collusion. A lurthw description of our r8sponsibilities for the audit of the accounts is located on the Financial Reporting CDuftcII's websrfe at %ww.frG.org_uklaud1t¢rs9p0n8IblIrtIes. This description forn part of our auditorfs report. Use of our report This report is made lo the charity's Trustees. a5 a tr4)dy. in aecordance with section 144 of the Charities Act 2011 and with reguLath7ns made under section 154 of that Act. Our audit work has been undertaken so that we mwJht slate lo the charity's Trustees those matters we are required to state to Ihern in an audrtorfs report and for no other purpose. To the fullest extent perrnitled by law. we do not accept or assume re5ponsibilily lo anyone other than the charity and the charty's Trustees as a W. tor our audf( WOTk, for this report. or for th8 ¢Jpinion5 we have formed. Buzzacott LLP Regkslered Auditor 130 WOCKI Street London EG2V 6DL 19 March 2024 8uzzacolt LLP 15 e1ible to &t as an audrtor in 18mis of seLtion 1212 of the Companies Act 2006 Weslminster Cathedral Choir School 15
Statement of financial actlvltles Year to 31 August 2023 Re¥tricl8d Total un4estrictJ Restricted 2023 fvrS furKIs Total 2022 Dcffjalions aThJ legHue¥ Barf( interest Chariaoie atliv1t$ . Pr(wk%lon ofeducation Toial intom• 104284 197.967 114.225 92.084 206.889 202.723 3J4,411 6202.723 92,683 6.427.094 5.558,163 5,672,388 5.558.163 5,765,OS2 Expgnthturo on.. Charilabk actnii . Prwsian DIedati1 . Chariiy don•M)r68 Total •xwdiiure 51.151 S.8S7,040 24466 5.88I506 5.071.054 328 5,071.3&2 29,$41 2,812 32.353 5,11XI,595 3,140 5.103,736 80ffj889 76.$t7 Not Income and ng1 rno¥•mwt in funds 524512 544.588 fA11,IX 80.311 861,317 Reconcifiallon crffund5 BaianeÈs broht 811 Septerrbe 4038. 420.779 3.469.285 2.437,500 360.468 2.797.968 Balarw (*rried I08rd at 31 Augjst 567.028 4¥845 4003,8n 3.038.5 420,779 3,459,285 All of the chanty's activities derNed from contsnuing orwab'ons during eath of the above two financial periods. Westminster Cathedral Choir School 16
Balance sheet 31 August 2023 2023 2023 2022 2022 Fixtd assèts Tangible assets 1,$63.327 1,229,720 Current assets Debtors srK)rt tem) dewtsrfs Cash at bank and In hand 141,S59 174.179 3.141,280 4.781839 4,155,892 4.330,071 Croditt>rn' amounts fallirvJ dt wilhin year 9 11.844,7931 11.642.(th1 1938,046 2,688.(fi5 Total as8•ts 1999 eurnnt Ilabllltl•s 4,501.373 3,917,785 Cr8ditor#". amounts falling due aft6r more than orE year 10 {497.500) {458.5001 Total netassets {003,873 3,459.285 The lunds of the ¢harlty: Funds and teserv8S Restrthd fiJnd5 UnresiricY Inc¢yne funds . Ganar81 furKI Tangibk fix& 858ets ..Free reserves 11 436.845 420,779 163,327 1003,701 1,229,720 1,808,786 3,567.028 4,003,873 3,038,508 3.459,265 Approved by the Directors of Westminster Roman Catholic Di0Se Trustee and signed on their behalf by". Trustee Approved on: Weslminsler Cathedral Choir School 17
Statement of cash flows Year to 31 August 2023 20rJ 2022 Castt Ilovrd from opèrnting aetlvltlgs: Net CAsh provNJed by cperats athtses 914.830 1.078,3 Cash flow• from Inv8sllng acllvltle6: IrK¥ea5e in sh¢M term ¢pts Purchase of langible fixwj assets N•t carthh ed in invosting actt¥lti•s 11,5fy),0001 {229,242} 1188,1881 11.729.242) 1188.1881 Cash flow& from financlng aclhTIts•'. Repayrnent of borrowirMJs Net eash In financin9 a¢tiviU#s 1200,(ml 1200,()01 Change In cash and ca¥h •qur4alents In the yr 11,014,612) 890,188 Cash and aqufvalents at 1 S•ptèml 8 4.1SS,892 3.285.724 Cash and Cash •quivalents at 31 AUgt 8 3.141.280 4.155.892 Notos to thg staternent of cash flo7hS for the year to 31 August 2023 A Reconciliatlon of net movement in funds lo net cash wovkled by operatlng aGtivitie5 2023 2022 Net movement in lund& las Per thp statthnent of Ihwnclal actlvltle81 644.688 Adjustm•ni for. Dery8ck?tson d)aryJe L05s on disposal of iaThJib fwl a&%èls Dwa8e in thbtor5 IrO&se in creditcKs lexdu(kng fwj a55et credrtot51 u8h providèd by 0rdn9 actlvlties fj61,317 164.678 196,127 16,410 133,169 71.333 1,078,356 31620 182,744 914.630 B Anatysls of cash and cash equivalents 2023 2022 Total cash and cash ¢quivaknts: Cash at bar and in haTrJ 3,141.280 4.155.892 C Analysis of changes in net cash A¢31 Au9USt 2023 Septetllber 2022 Cash flows Cash and cash twiv8lents Short lern deposits Total 4.155.892 11.014.612) 1.5CX).000 485,388 3,141,280 1,500,000 4,641,280 4.155.892 Westminster Cathedral Choir School 18
Prlncipal accounting pollcies Year to 31 August 2023 The principal accounting policEs adopted, judgMentS and key sources Df estimation uncertainty in the preparatK)n of the w)unls are laid out beb)w. Basis of preparation Th8se accounts have been prepared for the year lo 31 August 2023 with comparative informat*)n given in resp1 to the yearto 31 August 2022. The aCcnIS have been prepar&J in accordance wilh Accounting and Reporting by Charities.. StateEnt of Recommended PraCte applicable lo charities preparing their ounts in accordan wth the Financial Repo¥ting Standard appIable in the UK and Republic of Ireland {Charibes SORP FRS 102), the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Charities Acl 2011. The ac£ounls hav8 been prepared under the htOral c05t convention wf(h itsms recognised at cost or transactK)n value unles5 otherwise slated in the relevant accounting policies bel{ or the notes lo these accounts. The charity constrtutes a public benefft entty 8s defined by FRS 102. The a¢UnIS are presen18d in slerfing and are rounded to the nearest pound. Crilical accounting astimates and areas ol ludgement Preparation of the accounts requires the Truslees, in consultation with the Governors and Senior Management Team. to m8ke Snffjant judgements and estimates. The rtems in the accounts where these Judgnents and astnateS have been made Include". • Estimating the useful ecx)nomic lffe of tangibbe fixed assets for the purposes of determining an annual depre¢iatK)n charge". • Assessing lh& knl of any reSSary bad debt provision". and • Eslimab"ng future income and expendrture flows for the purp05e of assessing going CoeM (see b8bw). Assessment of going concern The Trustees. in consuttab.on with the Govemors, have assessed Nthether the use of the going concem assumplKJn is apprq)riale in pr8paring these accounts. They have made this assessment in respect to a of at least one year fr(Mn th8 dale of approval of these ounts. Westminster Cathedral Choir School 19
Prfncipal accounting policies Year to 31 August 2023 Assessment of going concern {continuedl The Trustees and G0vem0 of the charity have conduded that there are no material uncertainties re&teA to evenls or condrt•Jns, including the cuent MacrO8n01c and geopolit81 climate, that may cast svJnifunt ¢J(KJbt on the ability of the charity to Gontinue as a going conc8m ahOUgh rnainiaining pupil numbers remains essential to financial security {s88 principal risks set oui in the Rerx)rt of the Directors of the Cwordle Trusleel. The Trustees and Govemors are of the c4)inn that the charity will have sufficient resources to me8t ts Ikabilities as they fall due. Income Income is recogni81 in the p8rirY in whh the charty has entthmenl lo the income. the amount of income can be measured relity and rt is probable that the incom8 will b8 eNed. Donations and grnnts a reccgnised wthen the charity has confinmation of both the amount and settlement date. In the event of donthons c* grants pledged but not received, the amount is accrued forwhere the receipt is conshler8I prcèable. In the event that a donation or grant is subj'ect to conditKJns that require a 18V81 of perf0mnCe before the charity is titled to the funds. the ino)me is deferred and t wcgnised until eitherthose conditio are fulty met, or the fulfilment of those ¢x)ndrtiOn5 is wholly within the control of the charity and it is probable that thos8 nditKJnS will be fvlfilled in the reporb.ng period. L8gacies are induded in the statent cl fiwcial o¢tivities when the chanty is entf(led to the legacy. the executors have established that there are sufficient surplus assets in the estate lo pay the kgacy. and any cond(tKJns aitached to the gacY are WTthin the control of the chanty. Interest receivablè on bank deposts is credited lo the ststement of financial actNities on an accruals basis. Fees forthe provision ofeducatK)n comprise tuitton and lated lees paid in accordan with agreernents between the School and Indwidu81 pupils, p8renls. Such 5ncome is staled after d8ductirwJ bursaries and ks rognISed when the SchLKI 15 entrtled lo receipt under Ihe relevant contractual agreements. This is usualty at the point at which the School has ¢x)mmenced the prows¥)n of educabon in resp8Ct to the relevanl student at the start Df each ademK tem. Expenditure Expenditure is recognised as soon as there is a legal or constructive obligation committing the charty to make a payment lo a Ihird party, it is probable that a transfer of economic benefits will be required in Settlement 8nd the amount of th8 obligation can be measured reliab. All expendrture is accounted for on an accruals basis. Expenditu comprises direct costs arKI SUPFQrt costs and is stated Inclusive of irrecoveTab6e VAT. Westminster Cathedral Choir School 20
Princlpal accounting pollcles Year to 31 August 2023 Expenditure (continu&Jl Eypenditure on Charit*) a¢tNilw indudes all direct and indirect costs associated with rthering the Char[tab purposes of the charty i.e. the pvIsion of 8dLJcation and the training of children in church choral MUS through th8 cyration of Westminster Cathedral Choir School. Such costs indude". • Teaching costs i.e. th8 cost oftexhing al support staff salaries. including pension and rtIOnal insuran costs. bo)ks and thr tuition expenseg. and the cost of games and actsvr(S. • Welfare costs i.e. all donwtic costs 8SSCtiated wrth the School including employment costs, Consumab atyj caterirg. + Premises costs i.e. costs aslated with the prèmis8s, grounds and estate used by the charity for the purposes of educatKJn. • SuprKJrt costs i.e. admintstratNe costs incurrgj in connection with ttie School. • Governance cosls. 1.8. costs directty attn"butable to the gaI procedures necèssary for compliants with statutory reqU1Ments. Tangible red assgts Assets costing in excess of£1,000 and with an expected useful life exceeding one year are capilalised. All tangible ffixed assets are staled at cost. Deprecralion is provided at the following annual rates in order lo wr(Le off each asset over its estimated useful life". • Furniiure. equipmènt and minor 1(Ph - 20% per annum based on cost + Major improve to propety 4% per annum based on cost Oebtor5 Debtors are recognised attheir settlement amounL $$ any provision for n0n-rVerabI1ty. ppaYmentS are valued at the amount ppal Cash at bank and in hand Cash al bank and in hand represents such accounts and instruTnÈnls that are available on demand or have a malutty of ths than three mnths from the dale of acquisition. Deposits for more than thr8& months bul les5 than one year have been disclosed as short term deposrts. Westminster Cathedral Choir School 21
Prlnclpal accounting policies Year to 31 August 2023 Cr8ditors and provlsions Cfedrtors and proVtsKS ar& reco3nised when there is an obligation at the balance sheet cjate as a resu of a past event. il ks prcbable that a transfer of economie benefit will be r4uired In settlement, and the am(yJnt oflhe settthent can be eslimaled reliably. Credrtors and provisKJns are recognised at affnt the Gharity antKipales f( will pay lo settle the debt. Fund 8tructure The g8n8ral fund eomprises the net boL value of tsngible fixed assets and free reserves i e. those which may be used towards meebng the chariiable oLyectNes of the charity and which may be applkd at the discret of the Trustees. The restn.cted funds CriSe mnies rais for. or their use restrKted lo, a 5pe¢ified purpose or amunts suty'ect to dCr imposed conditions as lo us8 Leased assets Operating leases are defin•J as those leases where substantslty all of the benefits and risks of ownersh¥J remin with Ihe lessor. The rental apPlble for the period from the commencement of such a se until the end of the lease is charged to the statement of financial adivilies on astraighl line ba515 Spad overthe entirety of the lease temi, including over any rent free peri(l or pericJ of reded rent. Pensbon costs Contributn$ in resKct to defined corrtnbutk)n schemes are charged to the Statement of finaneial actr¥rties in thé y&qr in wh¢h tlw bacome payabl8 to th8 schemes. The ch¥ty contributes to a defined pension scherne. Under the definition$ set o in FRS 102, th8 scheme is a multimpknyer pension scheme. The School is unable to Klentify its share of the undetying assets and Iiabilrties of the scheme and accordingly. the SeJKX)I has tsken thawrtage of the exemtyn in FRS 102 and has accounted for its contributions to the scheme as rf rt were a defined conttbuiK>n scheme. Westminster Cathedral Choir Sthool 22
Notes to the accounts Year to 31 August 2023 1 Income from: Donatlons and legaci88 Un- r•stficW R85trict8d Total r88tricbl Resliicted fund5 furwjs 2023 funds Total 2022 Grant5 Trceivats from ÈsknlnsterCalhedr Ch S¢h(x)l Fund IRegLstered Chanty Nurt£r 2788781 LegacE5 ¥BceNable OtherdonatiorB. gfft8 arKI sundry reIpts Tc4al fwK15 ),)0 w,u)o 20,611 g0,(KX) 20.511 15284 105284 71172 92.683 87,456 197.967 24,225 114.225 116.889 208,889 92.664 Mrs Joanna Stephens. Bursar at the School. is a trustee of Westminster Cathèdral Choir Schrx)l Fund. 2 Income from: Provision of education LJn- restTrl&J Resbtcted tunds luThJs Total 2023 Toi81 21r22 lunds 6.N123 181.4001 201723 284,123 5.608.163 181,4VJl 150.OWI .201723 S.SSB,163 5.608.163 {50,OOQI 5,55a.163 Less." BursoriÈs Total fund ch0nste, f onty partially cover the costs a$Slated wth the prowsion ol èducation for Choristers. The shorttall is in part maje up by a grant of £90,000 {2022- £90,000} receivable from Westrninster Cathedial Choir Fund note 11. 3 Expenditure on: Provision of edueation Un- 5triGt•d R•stric Totsl resthckd Restrided fuwwJ5 funils 2023 funds fund5 Total 2022 Tw¢hlng and 1C PersonrÉl co$is Books. equprrÉnt and 8dwsknal SupplS Scholar5hps aThJ prries Depreoabon Adwtising, travd and rdatwj costs 1416.042 1416,042 2.2(.160 2,208.160 s9854 11,564 S98,864 479.462 82.715 20,030 9S.260 136,7(13 479,462 49.571 13e.709 51,161 29,541 138007 3.260,537 138.807 112.850 51,151 3,311.688 2,957,211 112,850 29.541 2.9e6.752 Westminster Cathedral Choir School 23
Notes to the accounts Year to 31 August 2023 3 Exponditure on: PnNision of educatlon (crMtinued) Un- Total 2022 2023 fLmds Wellarè 304551 171698 25,028 gll2TI 6.561 172.698 2402 603,277 281,751 121.(6 21.3 424.207 201.751 121.086 21,390 424,207 Prowsicffjs Pr9rni Petsonnel (x>sts MairlenarK r8pa R1 aThY propwty charF5 payle towesthnskr Rom Calmic Th¢xE54n T11 141 1S7,709 169.797 157,709 159.797 145.475 134.038 145,475 134,038 9W 59,418 135.939 B,902 70,707 636.516 $9,418 ,102 8,385 104.465 638,516 59.418 88.102 8.38S 104,465 Depre(Jalian F1, lit arKJ water Gleani 59.418 134939 B.9)2 7ffj767 L05s on dksFx)sal ofknibl8 16.410 16.410 33,986 1.226.775 Miselane0 26,612 1.516.IW 26.612 1.516.044 1.226.775 Support Pe[sQfin Prrtiry, p¢ta. statwrny le1whe Comwter5 aThJ rdaled mairtenaM Bar chwges 330,112 331112 314.883 314,883 61.254 57.236 6.676 463,278 53,866 6.676 463.278 5.e04 423,159 423.159 Auditorfs reMUraI10n Other lega armj ptofesstha t2,530 12,530 46.523 61752 523 61752 27.172 39.72 27.172 39.702 TO1 funds 5,804889 51.151 5.857.1)40 5,071,054 29.541 5.100.695 4 Staff costs 2023 2022 Staff gjsts during the penLMJ were as folkrts". Wages and salaries Soual $8CUWtty c(Ats Other pertsh)n 2.S16,341 243,634 409,084 3.169,059 48,355 3,217,414 2,293.186 238.358 382.012 2.893.536 56,7 2,950,268 Other st2ff costs Weslminster Cathedral Choir School 24
Notes to the accounts Year to 31 August 2023 4 Staff costs Icontinuedl The number of empbyees wtho eamed than £60.000 (includirkg taxable benefts bul excluding empk)yer's nation insurance and pension c0nlnbutJns during the year was as follows.. Totsl 2023 Total 2022 £60.1 . £70.OLKJ £70,001 - £80,0(KI £80,001 - £90.IYX) £150.001 - £160.LK)O £160,001- £170,(K() The average number ofemptyees during the perirmj. anatysed by functs"on. was as foll¢)ws: 2023 No. 2022 No. Teathing and m¢ Welfare Support 42 17 19 68 64 5 R8muneratlon of Trustees. Governots and key managernent personnel No Trustee or Govemor red any remuneratpJn from the chaiity in connectN)n with th8ir dutias as a DIrtOr of the Corporate Trustee or Govemor during the year or in respect lo ir role as key management psonr*I (2022 £nil} One Govemor recaived rewnbursement of expenses totalling £457 from the charity in connection wth their duts'es as a Governor during the year {2022- £769 r8imburs8d lo three Governor5}. No Trustee or Governor had any benefKial interest in any contract wrth the charity during the y&ar {2022 rK)ne}. £5.077 was spent duriro the year on a one-off event for Govemors and staff to mark the retirement of a long standing Govemor and recognise her contribution to the School.12022-£nil)_ The key management personnel of the charty in charge of running and op8raling the charity on a daY4daY basis are the th"rectors of the Corporate Truste@, Gov8mors, H8ad Master, Deputy Head (Pasloral), Head of Pr&Prep. Deputy Head {Ac&Jemicl lalso Head of Boarding), Director of StLKI. Direclor of AdMS1onS and Bursar. Th8 total remuneration (including taxable beneffts, emptyerfs national insurance and peThsn conlributionsl ol the key managent personnel for the year was £844,288 {2022- £778,231). The School provides a discount on s¢how)I fees of up to 85% for senior man4emenl and up to 25QA for all other Schod staff. In line with this polKy, Ihe Head of Pre-Prep receives an 85% discount on School f8 for her son, who joined the School in September 2020. There wer8 no donations from Govemors in the year 121T22 - datiOnS lotalling £8,000 were made to support a choir trip to Rome). Westminster Cathedral Choir School 2S
Notes to the accounts Year to 31 August 2023 6 Taxation Weslminster cahedral Chcir Schwl is a registe chty and, therefore. is not liable to income tax or corporalion tax on 1ncomederiv from its charitable Thirties, as itfalls wrthin the various eXemplS available to regIStd charib"e5. 7 Tanglble fixed assets Furnilure, uipment and mlnor to property Improvemgnts Major Totsl Cost Al 1 sEptThb 222 Ath"0nS Disposals At 31 August21T23 1,485.462 422,433 2,017.311 65.852 [78,3091 2,004,654 3.502,773 48B,286 178,3091 3,912.749 1.17.895 Dopr8elatlon At 1 September 2022 ChwJe foryear Eliminakny In resFwtol dPosa At 31 August 2023 721.199 59,418 1.551,854 95,260 [18,3091 1,568,8D5 2.273,053 1S4,678 178.3091 2,349,422 780.617 Nèt book values At 31 AuSt 2023 At 31 AwJust 2022 1.127.278 764.283 436,049 465.457 1,563.327 1,229.720 8 Debtors 2023 2022 Tuition and olherfees lVabl& Rent pr8paid Prepayments aThY suThJry debtor3 33.110 16,837 100.CKK) 57,342 174,179 108.449 141,669 9 Creditors: arnounts falling due within one year 2023 2022 Loan from W8stsnin5ter Callra1 Choir S¢hcxJ Fund lsee beiowl Amounts due to Westminster Rom8n Catholic Din Tntst Inote 141 rued rent Ise8 tlOW) PAYE, NatK)nal Insuran and grnFWg ptsnsion contributions Fees in v8n( Rsturnatle fee ¢Jeposrt3 AddOnS to tangl6 8(j assets Acc15 200,000 9.754 384,472 114,022 780,Ce4 47,500 37,411 68,783 1,642.D06 81,431 317,311 128,616 933,227 41,000 296,454 66,754 1,844,793 The loan from the Westminster Cathojrdl Choir School Fund ICh8rty Registration Number 276878) was interest and was repahl in full in November 2022. Weslminster Cathedral Choir School 26
Notes to the accounts Year to 31 August 2023 9 Creditors: amounts falling due within one year {corth"nued} The accrued rent of £317.311 12022 - £384.4721 represents the cjjmulative charge to the stslement of financial actNrtie8 reqUIrj in order lo sprea the rent applKable lo the lease of th& chartys premis8s over the enlire period of the kgas8 on a straight lin8 basis. aft8r arjjusting for an in.81 penod of reduced rent and a further 6 month period of reduced rent. 10 Credltors.. amounts frdlling due after more than one year 2023 2022 Retumat4e fee depogts 497,51)0 458,500 11 Restricted funds The incom8 funds incJud8 rastrt8d funds comprising th8 following un8xp8nd8d b81anc8S of donations arKI grants lo be applied for purposes. At1 September 2022 At31 August 2023 lrtcome Expenditure Basil Hume Fund Neil McLaughkn Furn1 Oth8r funds Totsl restrict1 rlS 40IB15 1169 16.795 420,779 83,011 150,9rKIi 12SOI (26,4671 176.6171 434,926 1,919 9,672 92.683 436,846 Atl S8ptenX)er 2021 At31 August 2022 Inctrme E¥penthtUffg BosiIHÉmpe Ftjnd MGLaughlan Fund oth8rfunds Total r8sthct8d funds 354.756 2.169 3,543 77,60rJ 129,541) 402,815 2, 169 15, 795 420, 779 15,064 92.6SI (2,872) (32.3) The purposes for which the funds must be used are as follows.. • Basil Hume Fund Although choristers are required to pay onty a small proportion of the full lees by virtue ofthe grant received annually from the Westminstef Cathedral Choir School Fund (note 1), fvrther assistan L8 also available on apPI"0n to this fund. • Neil McLaughLgn Fund. The Neil McLaughlan Fund comprises a dOnatn from a parent to establish a fund frorn whh an annual award wll be made lo recognise an outstanding contribution from a member of a¢adern teaching staff lexdudiThJ s[ members). Other funds Funds were collected forthe Eyelwe charity and the Cardinal Hume Centre during the course ofthe year. Westminster Cathedral Choir School 27
Notes to the ac¢ounts Year to 31 August 2023 12 Anatysis of net assèts b8tw8on fund5 general Rg¥tricted fund fId¥ 2023 Total Fund tsalanc at 31 August 2023 arg represented by: TangiNe fixed assets Net current assets Cr&Yilors'. arnounts faIrj dL¢ after more Ihan OT y88r Total ngt as58ts 1I63A27 2,501301 1497,5001 3,567,028 1,563.327 436.845 2,938,046 1497.5001 4,003,873 436.846 UnreslnGts 2022 Total nd funrls Fund balW8 8t 31 August2022 are ffvwesentedby.. Tangible fjxed assets N8t cunw)t&%S8ts Creditors." 8{WIts tdlfioq afternwe than {Year Tolal It 85S8ts 1,229,720 2.267,286 (458,5W) 3.038,506 1,229, 720 2,688,065 (458.500) 3,459,285 420,779 420. 779 13 Connected charlty Thè charity is connected to Westminster Rrffian Catholic Diocesan Trust (Charity Regislralivn Number 233699) whh has the sam8 Corporate Trustee. namety Westminster Roman Catholic Diocese Tfuslee. 14 Transactions with connected charity A linCe agreement exists beknn Ihe School and Westminster Roman Catholic Diocesan Tntst in relation to the School's share of tho healing and hol water costs. During the year tr) 31 Augusl 2023. rent and propety related charges of £896,90012022- £636,516) were Payab to Wastminster Roman Catholic D?cesan Trust. Thi8 includes nl payment for the use of 47 Fn¢1$ Street. London. SW1 P by Westminster Cathedral Chow Sch as a Pre.Prep Scho. The propety (ywned by the Westminster Romarb Catholi Diocesan Trust and B rented to the charity. As at 31 August 2023. an amount of £61.431 12022 - £9,754) was due to Weslminsler Roman Cathdic Diccesan Trust (note 9). Westminster Cathedral Choir School
Notes to the accounts Year to 31 August 2023 15 Commltments under operating leases Al 31 August 2023. the total of the charity's fulufe minimum lease payments under non- cancellable operating leases was as folkyws.. 2023 2022 Land and lI1rJ$ Amount due wthn one year Amounts due tr40 years Amounts due aftgr five year8 98S.L6 701.680 3.670.241 2,655,109 10,949,396 9,415.825 16,605,643 12,782,e14 The above lease is for a 30 year perir*J from Juty 2017 wrth an Inf(ial three year period of reduced rént al a further 6 months of reduced nI from April 2D20. The rent payable is vanable and dep8nds on the Bank Rate sel by the Bank of Enyland. 16 Pfjnsion commitments The charity's lexhing staff beknng to the Teher5, Pension Scheme (TPS). The lolal pension cost for the TPS for the peri was £367,71312022- £323,614). For non-teaching staff, contribulions are made to defined contribution pension schemes. The totsl pension costs for the year payable to these sche$ was £41,371 12022- £38,398). Teache. Penslon Scheme (7PSJ The Texhers, Pension Scheme ITPSI is a statutory, eontributory, defined benefit scheme, governed by the Teache, Pension Scheme Reguk8tions 2014. Thase regulations apply lo teachers in schools, colw and other educational estsblishments. Memb8rship is autornatic for teachers and lethjrers al eligib instrtutrjns. Teachers and lecturers are able to opt out of the TPS Thè TPS is an unfunded scheme and members contribute on a'pay as ytsu go, basis-these contributions. along with those made by employers, ar8 cr8dited lo the Exchequer under arrangements governgj by the above Act. Retirement and other pension benèfits ar8 paid by publ funds provided by Padiament Under the defInon$ sel out in FRS 102 (28.11), the TPS is a multi-amployèr pension plan. The SchcK)I unable to identfy rts share of the undetying assèts and liabilities of the plan. Accordingly, the Sth¢)ol has taken advantage of the exemption in FRS 102 and has accounted for its Contn'bUtns lo the SChe as rf it were a defined-contribLrtion plan. The School has set out below the informatK)n available on the pian and the implications for the School in terms of the anticipated contribution rates. The valuation of the TPS Caled out in line with reguL3tions made underthe Public Service Pension Act 2013. V8luatKJns credit the teachefs, Pens) account wrth a real rale of relum assuming fvnds ar8 invested in notional investrnentS that Pr(U¢0 that real rale of return. Westminster Cathedral Choir School 29
Notes 10 tho accounts Year to 31 August 2023 16 Pension c0mrnithThts (continu T&bets, Penslon Scheme (TPS) {111nUed} The L9test actuarial rev of the TPS was L7rrisJ out as at 31 March 21Y20. The valuation reportwas publish&J by the D8partm8nl for Education IDfE} in Octobw2023. The valuation reported tol& scheme liabilities Ipeftsi ¢urrenlly in payrrenl and the estimated cost of future beneffts} for senric8 to the effectNe date of £262 billic, and notional assets lestimaled fvture Contributi$ together with the notK)nal investments held at the valuation date) of £222 bill. gNiTrJ a notK)nal past Servi tsfirAt of £40 bill. As a result of the valuatb)n: new empk)yer contribution rates have been set al 28.68QA of pensionable pay frrmn Apnl 2024 onwards (ccAry)ared to 23.680k since septnber 2019). A full copy of the Wdluation reKK)rt and suppcKb'ng documentatKJn can be found on the Teachers. Pension Scheme websrte. 17 Related party transartions A total of £34.597 12022 - r23,298} was paKI lo Farrer & Co LLP, the School's legal advisers, of which Maria Strauss, a Govemor. is a pariner OtIr than the relal*)nships an transactn$ disc108ed in not8s 1, 5 and 14 there were othei related paty transactions requiring disdosure {2022- none). Wesfrminster Cathedral Choir School 30