CRANLEIGH
EX CULTU ROBUR
CRANLEIGH SCHOOL
A COMPANY LIMITED BY GUARANTEE
REGISTERED NUMBER 3595824
CHARITY NUMBER 1070856
ANNUAL REPORT AND ACCOUNTS
31 July 2021

CRANLEIGH SCHOOL
ANNUAL REPORT AND FINANCIAL STATEMENTS 2021
CONTENTS..
PAGE
Governors, Officers and Advisors
Annual Report of the Govemors
Strategic Report
Statement of Accounting and Reporting Responsibilities
15
Independent Auditorfs Report
17
Consolidated Statement of Financial Activities
20
Consolidated and School Balanc8 Sheets
21
Consolidated Cashflow Statement
22
Notes to the Financial Statements
24

CRANLEIGH SCHOOL
CRANLEIGH SCHOOL
ANNUAL REPORT AND FINANCIAL STATEMENTS 2021
GOVERNORS. OFFICERS AND ADVISORS
GOVERNORS. DIRECTORS AND CHARITY TRUSTEES
The members of the Governing Body of Cranleigh School are the charity trustees of Cranleigh School
and the Directors of Cranleigh School I'lhe Charily'l. The members of the Goveming Body are..
121
(31
141
151
161
171
A J Lajtha MA. FCIB. {Chairmanl
Mrs S E Bayliss, MA, PGCE
Golonel J Boyd OBE MA (aP￿inted 21 September 20201
Mrs J A Brown MA
Dr R Chesser MA, MB, 8Chir, MRCP"
Mrs M M S Fisher MA (Deputy Chairl
M Foster MA {retired 30 September 2020}
P S P Going Bsc, MRICS.
S Gunapala BEng, MEng, FCA
Miss K J S Kerr BA (Honsl MCIPD (appointed 18 August 20211
J A M Knight BA
D Khurshid BA QC (appointed 10 Sèplgmber 20201
MrsAJLyeBA
C H Severs LLB (Honsl lappointad 14 June 20211
Mr5 E Stanton Bsc, ACA
J J D C Tate BA (Hon5} DipArch MArch (appointed 6 November 20201
S J Watkin$on Bsc ACA (retired 12 April 20211
O A R Weiss MA {retired 21 November 2020)
P M Wells BEd (Honsl
D G Westcott BA BCL QC
S J Whitehouse BA (Cantabl
Prolessor R J Wilkins MA DPhil
D A Ewilliams BA FCA
Mrs M J Williatnson '
Strategy and Risk Committee
Education Committee
Buildings and Eslale Committee
Finance Committee
Risk Management Committee
Overseas Committee
Nominations Committee
Parent of a pupil or pupils al the School
{21
13)
14)
(51
161
17)

CRANLEIGH SCHOOL
Mr Weiss has special responsibility for Cranleigh Prep School. Mrs Fisher, Mr Watkinson and Mr
Whitehouse are members of the management board of Cranleigh Abu Dhab￿. Mr Williams is a
Trustee of Cranleigh School Pension Scheme.
The Board is a self-appointing body. The normal term of office for governors is five years with
further temis of three years each if elected by the majority of Governors to continue in office. Cranleigh
Preparatory {Prepl School has the same Governing Body as Cranleigh School.
EXECUTIVE OFFICERS..
Headmasters
Cranleigh School
Cranleigh Prep School
Director of Operations
Director of Finance
Clerk to the Governing Body
Mr M S Reader MA. MPhil. MBA, QTS
Mr N R Brooks BA. QTS
MrPADunnBA
Miss J A Underdown BA {Hons} ACMA
Mr P T Roberts MBE, DChA
Principal address
Cranleigh School
and R￿IStered Offi¢e Horseshoe Lane
Cranleigh
Surrey
GU6 8QQ
wvM.cranlei
Cranleigh Prep School
Horseshoe Lane
Cranleigh
Surrey
GU6 8aH
Websites
h.or
vw.cranlei
re
schoo1.or
ADVISORS:
Bankers..
Handelsbanken
Andrews House
College Road
Guildford
GU14RG
Solicitors..
Veale Wasbrough Vizards
Narrow Quay House
Narrow Quay
Bristol
BS14QA
Auditors..
Crowe U.K. LLP
55 Ludgale Hill
London
EC4M 7JW
Investment
Advisors..
Brewin Dolphin Limited
12 Smithfield Street
London
EC1A 9BD

CRANLEIGH SCHOOL
ANNUAL REPORT OF THE CRANLEIGH SCHOOL GOVERNORS
FOR THE YEAR ENDED 31 JULY 2021
The Cranleigh School Goveming Bi)dy presents the annual report for the year ended 31 July 2D23
under the Charities Act 2011 and the Companies Act 2006, together with the audited financial
ststemenls for the year, and confirms that the latter comply with the requirements of the Acts. the
Articles of Association and the Charities SORP 2015 in accordance wilh FRS 102 {as updated).
DIRECTORS, REPORT
CONSTirurioN AND OBJECTS
The Charity was founded in 1865 and is registered with the Charity Commission under charity number
1070856. Cranleigh School is a company limited by guarantee, registered number 3595824. Cranleigh
Schoo5 is governed by Articles of Association introduced in 2010 10 incorporate changes in legislation
in the Companies Act 2006. These Articles replaced the previous Memorandum and Articles of
Association dating from 2000. Cranleigh School's object and principal activity, as a charity and as set
out in the Articles of Association, is the advancement of education by providing a boarding 8ndlor day
hool or schools for boys andlor gids in accordance wÉth the principles of the Church of England.
The Charity is slruclured with a single governing body for two schools known as Cranleigh School and
Cranleigh Preparatory (Prep) School. The Charity, in furtherance of ils object, establishes and
administers bursaries, grants, awards and other benefactors, and acts as the trustee and manager of
property. endowmènts, bequests and gifts given or established in pursuance of the CharIt￿S objects.
The Trustees are mindful of the long-standing need lo provide public benefit and of the requirements of
the Charities Act 2011 and have had regard to Charity Commission guidance on public benefit. The
Charity's govemance complies with the Code for the Voluntary and Community Sector, endorsed by
the Charity Commission and other best-practice guidelines published by the Charity Commission.
Further details of the Charity's activities are set out below in the strategic report section of this annual
report
GOVERNANCE AND MANAGEMENT
Governlng Body
There is one Governing Body for the schools. The members of the Governing Body and execub've
officers of the School, together with the principal advisors are listed on pages 1 and 2.
Recruitment and Tralnlng of Governors
The Charity's elected members of the Governing Body are appointed at meetings of the Cranleigh
School Goveming Body on the basis of ￿cOmMendatiOnS from the Nominations Committee. The
Nominations Committee scrutinises candidates on behalf of the Goveming Body. Trustees and
executive officers of the School put forward candidates to the Nominatr'ons Committee based on a
candidate's professional qualities, experience, personal competences and local avallabilily. The
Governing Body is mindful of the benefits of diversity in the widest sense and as noted in Principle 6 of
Charity Commission guidance. New members of the Govern1ng Body are inducted into the workings of
the Charity and its schools, including Governing Body policy and procedures, at briefings organised fof
them by the Headmasters and Bursar. The new members also attend specialist external courses on
the roles and responsibilities of charity trustees. Members of the Governing Body attend external
Iruslee training and infomiation courses in order to ensure that the Governing Body is kept informed of

CRANLEIGH SCHOOL
current issues and regulations in the education and charity sectors. Govemors may attend days al the
School shadowng pupils or visiting support departments.
Organisational Managernent
The members of the Cranleigh School Goveming Bcxjy, as Iruslees of the Charity, are legally
responsible for the overall management and control of both Cranleigh School and Cranleigh Prep
School. The Governing Body takes note of guidance provided by the Charity Commission and
speCif￿allY the principles set out in the Governance Code published in July 2017. Overall, the Charity
meets a very significant proportion of the recommended and best practice for governance that is
contained within the GoveTnan¢e Code across the seven principles and is comfortable there are no
significant areas of review required. Arrangements will continue to be monitored against the best
practice principles contained within the Code. The Chairnian of the Governing Body is Mr A J Lajlha
and the Deputy Chair is Mrs M M S Fisher. The full Board meets each term, and so three times a year,
and the work of implementing its policies is carried out by six sub-committees..
The Strategy and Risk Committee considers proposals for development of the School and
advises senior management of the strengths and weaknesses of strategic options. A biennial
strategy day is held for member5 of the Governing Body and senior executives lo review
performance and consider future development. The last strategy day was in June 2039 with
the next planned for March 2022, having been delayed by one year due to Cowd-19. The
Strategy and Risk Committee is chaired Mr D G Westcott.
The Education Committee considers educational and pastoral policy. Mrs S E Bayliss has
special responsibility for Safeguarding and Mrs A J Lye has special responsibility for Special
Educational Needs and Disabilities ISENDI. The Education Committee is chaired by Mrs M M
S Fisher.
The Buildings and Estate Committee supervises and monitors capital building projects and
maintenance of the fabric ofthe School. The Committee has delegated responsibility for Health
and Safety and il produces a report each term on Health and Safety matters for the Governing
Body. Mrs M J Williamson has oversight of boarding on behalf of the Governing Body," in¢luding
both the provision of facilities and pastoral support Ilhe latter is a responsibility of the Educatson
Committee). The Buildings and Estate Committee is chaired by Mr P S P Going.
The Overseas Committee was established in 2020 to monitor performance and risks of the
School's overseas schools specifically Cranleigh Abu Dhabi and Cranleigh China. The
Oversea5 Committee is chaired by Mr S J Whitehouse.
The Risk Management Group IRMGI monitors risks facing the School. This Committee
presides over an annual risk management prO￿sS that culminates with the production of a risk
report in the autumn each year. Each sub-committee is responsible for considering the risks in
its area of governance and each has appointed a member to lake the lead in risk management.
The RMG is chaired by Mr J A M Knight.
The Finan￿ Committee scrutinises revenue, the budget and capital expenditure. This
Committee also supervises and finalises the audited financial statements and annual report for
approval by the Governing Body. The Finance Committee is chaired by Mis E Stanton.
The day-to-day running of the School is delegated to the respective Headmasters, supported by their
Senior Management Teams. The Headmasters and representative members of senior management
attend meetings of the Goveming 8ody sub-committees and together these groups are the key
management personnel. ReMUneral￿n is determined by the Goveming Body which is mindful of the
contribution of all staff to the School's success and. as such, it is right that remuneration of staff is the
highest single cost incufred by the Charity. The Governing Body makes reference to comparisons of
staff costs al other schools which are produced in various benchmark surveys that are anonymous and
so compliant with competition law. The remuneration policy balances fair wages and a generous
pension scheme for lower paid staff with the provision of incentives for senior managers who lake the

CRANLEIGH SCHOOL
burden of responsibility for the School's complex operations. The School produced a gender pay report
again this year as required of employers with more than 250 employees. The gender pay report for
2020 is available on the School's website.
Group Structure and Relationships
Cranleigh Foundation was set up in 2007 as a separale charity limited by guarantee with a registered
charity number of 1122918 and a company number of 06452540. Cranleigh Foundation's slalutory
financial statements are consol￿dated with the School's within this Annual Report and Financial
Statements. Cranleigh Foundation is governed by 8 Memorandum of Association and Articles of
Association produced in 2008. The Chaimian is a fomier governor, Mr M J Meyer and one member of
the Governing Body. Mr A J Lajtha is also a Foundation Trustee. The Headmasters and Director of
Finance attend Foundation Trustee meetings.
Cranleigh School has I￿0 wholly owned non-charilable subsidiaries. Cranleigh Enterprises Limited
ICELI is a trading company that arranges the letting of facilib'es when not in use by the School and it
has a retail outlet within the School for the sale of items such as school uniform and sports equipment.
CEL profit is donated under gift aid to the School. There are more details Con￿rning CEL at Note 3 to
the financial slatemenls. The accounts of CEL are consolidated into the Cranleigh School accounts.
Cranleigh Education Services Limited ICESLI was incorporated in September 2012. The Cornpany ha9
five directors who are members or former members of the Governing Body or executive officers of
Cranleigh School. The Company's purpose is to facilitate the eslablishmenl of overseas schools and
then monitor the operation of overseas schools once open. The Company was responsible for planning
Cranleigh Abu Dhabi. working closely with joint venture partners and the firm eonlracled lo run the
School. 'Cranleigh Abu Dhabi opened in September 2014 with 637 pupils from FS 1 to Year 9. The
School now has 1,604 pupils and has expansion plans to increase the number lo around 1,800 pupils
{il is now at full capacity) from FS 110 Year 13. The School's public exam results were, in common with
other schools, based on Centre Assessed Grades bul nevertheless impressive with 75Q/o12020'. 790h.
2019.. 730/0) of pupils achieving GCSE grades 9-7 and atA Level 87Vo12020.' 73¥0. 2019.. 630kn1 achieved
grades A"_B. Cranleigh China opened its first school in Changsha in September 2020. There are 476
pupils as of September2021. The first public exams were taken during 2020. The results were excellent
with 42¥9 achieving GCSE grades AJA..
Stakeholder Engagement, Employment and Sustainability Policy
The Trustees confirm that in accordan￿ with Section 172 11} of the Companies Act and Charity
Commission guidanee they govern in order to achieve the obje¢ls of the Charity. The long-lerm financlal
and operational sustainability of the School is considered by Trustees as set out in the Going Concern
section of this report. Trustees assess financial projections and key risks that could impact the
sustainability and reputation of the School. Assessments are made with the assistance ofthe executive
and by reviewing management information, budgets. Capital expenditure plans, cash flow forecasts and
progress against financial projections each school term and during the Covid-19 pandemic more often.
Overarching the assessments of financial sustainability is a comprehensive risk management process
that guides the executive and Trustees towards areas of risk and specifically the impact and likelihood
of risks together with mitigation strategies. The fisk process and ¢urrenl assessments are explained in
more detail later in this TeporL
Cranleigh School is an equal opportunities employer. Full and fair considerallon is made of job
applications from disabled persons and consideration of their training and employment needs is made
as necessary. The School complies with modern slavery regulations. Consultation with employees, or
their representatives, has contsnued at all levels with the aim of taking the views of employees into
account when decisions are made that are likely to affect their interests. Employees are aware of the
financial and economic performance of the School. Communication with employees continues through
normal management channels in a variety of fomis and through exceptional channels to apprise staff

CRANLEIGH SCHOOL
of current issues. Examples of consultation are briefings to leaching staff at the start of each term by
the respective Headmasters to oulline development options and seek the views of staff and
engagement with staff regarding terms and conditions of employment through respective common room
salaries committees which meet with the Headmasters, Director of Finance together with the Chairman
of the Governing Body and Chair of the Finance Committee of the Governing Body. An equivalent for
support staff is arranged by the Director of Operations who gives regular staff updates and briefings to
staff in smaller meetings by department.
Communication with staff, during the Covid-19 tock down and then subsequent restrictions to achieve
bio-secure working conditions. has been of great importance for the monitoring of the morale for a
second year. The School has briefed staff more frequently on the full range of operational issues
including the continuing financial effects ofthe lock downs. Briefings were conducted during lock downs
using Zoom and Google Meet and for wider audiences by video films and through a dedicated and
closed Facebook account for staff. The School conts.nued to use the Government's flexible Job
Retention Scheme at the start of the reportin9 period but the bulk of staff had returned lo full time work
by end of March 2021. Al the time of writing in September 2021, the School is functioning al near lo
pre-pandemic levels but under the operation of a comprehensive bio-security policy lo monitor and,
where necessary, control the pandemic. The School's medical Centre has conducted circa 5,000 Covid
tests during the pandemic, a figure excludes self-tests conducted twi￿ each week by pupils.
The Company complies with the UK'S Equality Act 2010 Regulations 2017 that require the publication
of infomiation on the gender pay gap for UK employees annually. The 2020 report is available on the
School's website.
The strategic development of the School has been in a period of transition during the last kn years
because of the overriding requirement lo focus on the provision of the highest quality real time education
of our pupils during the pandemic. The 2015 plan completed its implementation in September 2018
with the next three year cycle commencing in 2019 after a thorough review. Due lo the pandemic the
completion date for this plan is now July 2023. The planning cycles seek lo involve staff al every level
in the construction and implemenlalion of targets. This engagement seeks to achieve transparency,
and through this, ownership of future plans by staff at all levels. This has been particularly important
post pandemic, and with important adaptations having lo be made following the murders of George
Floyd and Sarah Everard and a national focus on both racism and sexual violence in schools. More
details of future plans are explained later in this report.
The School is committed lo engagement with stakeholders. The main groups are pupils, parents.
alumni. employees and conlraclors. There is significant communication using a full range of media with
pupils and their parents or guardians. This is routine and extensive with the aim of ensuring a smooth
passage for the eleven years of a pupil's education at Cranleigh. The alumni organisation, The Old
Cranleighan Society IOCS), is based at the School and works on behalf of all alumni including those
from Cranleigh Abu Dhabi. There is extensive engagement with the functional sub groups of the OCS
and assistance is given wilh the organisation of events. Furthermo￿, during lock down the OCS staff
at the School were in regular contact with older members of the Society to eheck on their welfare.
The procurement of goods and services by the School is undertaken lo achieve a secure supply of high
quality provisions and material with fair and timely payment. Local and smaller compan￿$ are favoured
wherever possible and there are arrangements with a variety of sole traders in the local area. The
School 15 conscious of its position as the largest employer in the area and aims to support local business
wherever possible. Payment terms are thirty days but sole traders are able to requests earlier payment
which is arranged on a ￿Se-bY-ca$e basis.

CRANLEIGH SCHOOL
The School is committed to improving environmental sustainability. There is a pupil led environmental
committee which developed ils strategy in 2019 and, pre lock down, was focusing on minimising food
waste and ceasing the use of single use plasts-c. There had been good progress on both initl8tives
which have been picked up again in the new school year now that school life has largely returned to
nomal. The School recycles food waste for anaerobic digestion to generate energy from the waste.
The School complies wth environmental regulation and specifically..
The School has complèted an Energy Savings Opportunity Scheme IESOS) assessment and is
working to decrease energy consumption.
Streamline Energy and Carbon Reporting ISECRI has been adopted. There is a commitment to
improve energy eff￿lencY. The lolal energy consumption figures for the year were..
UK energy use (11 kwh
8,900,295
Associated Greenhouse gas emissions12}
Tonnes CO2 equivalent
1,752
Intensity ratio
Emissions IIC02el per £m Total Sales Revenue
66.89
The School is active in monitoring for risks of bribery, corruption, fraud and cyber-attack. The risk
process is comprehensive and overseen by the Governing Body Risk Management Group. A more
detailed explanation of the risk process is given later in this report.
The School maintains a register of those executives and trustees in positions of Significant Control.
Conflicts of interest are reviewed formally each year and attendees are required to de¢lare any change
of conflict status al each sub committee and main board meeting of the Governing Body.
AIMS AND OBJECTIVES
Misslon Statement
The purpose of Cranleigh School is lo provide, within a Christian environment. the necessary education
and appropriate training to enable pupils to develop their potential as indiv5duals, and thereby to ensure
that, on leaving, they will become confident members of society and effective conlribulors lo it.
Alms
The aims of Cranleigh School, for the public benefit, are to Bnable young people to flourish in a school
where busy pupils lead fulfilled lives now while developing the personal skills and qualities that will
enhance their adult lives. Cranleigh aims to provide young people with the strength lo succeed., the
wisdom lo make infomied choices., resilience in the face of failure or difficulty.. and the insight lo
recognise their privilege and to shape the future culture of the world through lives of service and
leadership. With these skills, and in the context and heritage of their culture, Cranleigh pupils are
encouraged to explore and ask central questions about their purpose and identity. A rigorous academic
curriculum is reinforced by a commitment to a breadth of acts.vity that enhances personal development.
Cranleigh is committed to being a medium-sized, co-educational boarding and day school, large enough
to provide for breadth of opportunity and small enough to sustain a friendly. cohesive community in
which there is a strong and active partnership between parents and the School. 'Pupils first, is a guiding
principle for 811 decision making. Arising from the School's Christian heritage and cultural background,
al the heart of a Cranl8igh education are four central values of Servi￿, Relationships. Leadership and
Excellence.

CRANLEIGH SCHOOL
Service.. All in the community are encouraged to adopt an attitude of service lo each other and the wider
ommunily.
Relat￿nshIps.. Strong relationships are fostered as a priority in a predominantly boarding ¢ommunity.
Children flourish within safe, supportive environments.
Le8dership.' Openness, integrity and thoroughness are characteristics of everything we do. Cranlelgh
aspires to lead thinking and practice in holistic, boarding education. Cranleighans wll be equipped with
the knowledge and skills lo shape future culture.
Excellence.. Cranleigh will strive for excellence in everything it does and aspires to be recognised both
for its education81 vision and for the personal qualities of Cranleighans.
Primary objectives
In order to achieve its aims the School has developed primary objecb.ves which are..
to provide a slimulaling learning environment in which pupils are encouraged to pursue and stretch
their aeademr potential.,
to provide a happy and secLtre pastoral environment in which pupils can team lo live together and
thus foster a sense of community, Co-education, respect for one another and good citizenship., the
pursuit of best pracb'ce in safeguarding young people will always be a priority.,
to provide pupils with the opportunity to take advantage of a breadth of co-curricular activities in
order lo develop positively all aspects of their character..
to provide pupils with the opportunity lo take decisions based on their own judgement and lo
communicate those decisions appropriately and effectively..
19 PTovide a clear, simple and effective management structure capable of taking timely decisions
and allocating necessary resources appropriately.,
to provide the necessary administrative and logistical framework to meet the needs of members of
Common Room and pupils alike.
to encourage diversity within a predominantly local boarding Community through the expansion of
the bursary programme. an increase in the number of Foundalioners, and regular monitoring of thg
Admissions process.
Strategies to achieve primary objectives
The first objective is lo provide a slimulaling learning environment and this is achieved by 160 FTE
teachers 12020." 151}. These teachers Strive to allow every pupil to develop their academic potential.
This is achieved by focusing on each individual whilst fostering the broader ethos of the School's
community as a whole. The School's structure enables lulors, and at the younger age groups form
teachers, lo commit time and energy to their tutees and individual pupils in each form.
The provision of a happy and secure pastoral environment is al the core of the School's approach lo
education. Puplls are cared for within a close 'house' structure that provides foT comprehensive
individual care based on Christian principles and a strong bond that cieales friendships throughout the
School. The second element of this objective is lo foster a sense of community and ¢itizenship. This
has been achieved through links with the local community and with international and regional
organisations. The Senior Sehool has had close links with a charity assisting education in Zambia for
decade and, pre-covid, during school holidays pupils and staff travel to Zambia where Cranleigh has
assisted in building a primary school, sponsoring children and is involved with supporting teachers. It
is planned to Testart these visits as soon as the pandemic silu8tion allows visits to Zambia. The Prep
School supports local, national and international charities fostering empathy and responsibility in the
younger years.
The co-curriculum is broad. Leadership and decision-making are embedded in many activities. The
number of actNities on offer lo pupils is too numefOUS to mention here. A clearer understanding of the

CRANLEIGH SCHOOL
whole school approach lo the co-curriculum can be found al the School websites ww.cranlei
and www.cranlei
re
sehool.or
Readers are encouraged lo visit these sites.
h.or
Cr2nleigh Foundation Trustees, ReF)Ort and Financial Statements outline the wntinued progress in the
development of the Foundation. The Foundation has received donakn'ons this year of £334k12020..
£328kl and total income of £371k12020.' £375kl. The Foundation supports pupils al Cranleigh School.
The Trustees have decided lo focus activity on the development of an endowment which will be built up
over decades whilst continuing to support Foundalioner pupils.
The Charities had no active fund-raising activities this year requiring disclosure under S162A of the
Charities Act 2011. The decision lo pause fund-raising was made eight years ago and modest
resoUr￿S have been allocated since to establish the conditions for future fund-raising. This has
involved friend-raising and data gathering. The School and Foundation are compliant with the General
Data PTOtection Regulation IGDPRI. It had been intended to start a fund-raising campoign within the
next year but with the uncertainty of Ihe Corona virus pandemic this decision is on hold.
STRATEGIC REPORT
ACHIEVEMENTS AND PERFORMANCE
Review of achievements and perfomiance for the year
The principal aclivily. as specified in the Articles of Association, is the advan￿ment ol education and,
in this, the School has had another successful, albeit unique. year Cranleigh School averaged 675
pupils {2020." 6631 of whom 19012020.'1931 were day pupils and Cranleigh Prep School averaged 338
12020.. 3381 pupils. At the Prep School the flexible boarding arrangements continued lo be Popular
once boarding relufned post lock down in the summer term wslh, on average. circa 70 pupils boarding
at the School each week in the newly refurbished boarding facilities which opened in September 2021.
Waiting lists remain full for both schools and demand for places has increased again this year. The
school year wa5 su¢cessfvl with many notable specific achievements, some of which are reported
below, but the overriding theme for the year. as with last year, has been the impact of Covid-19 and the
mitigation needed to limit transmi55ion of the virus whilst still providing a full and varied educational
programme, often remotely. Benchmarked surveys compiled by the Independent Schoo15 Council
demonstrated very high levels of satisfaction from parents at the remote education offered during
lockdown. The School complied with the various requirements specified by Government to limit the
spread of Covid-19 but, within this, il has functioned as close as possible to the pre Covid norm81. This
has not been straightforward, particularly given that Cranleigh is predominantly a boarding school. For
much of the year restrictions were placed on external activities such as educational visits and inter
school sports fixtu￿S.. and internally w5th activities confined to year group bubbles. Nobwilhslanding
this, staff provided alternatives that enabled pupils to experience the full educational benefit. These
allemalives included virtua5 visits and internal co-educational sport which had the added benefit of
allowing pupils to play sports that they would not normally experience. The mixed netball cornpeb"lions
were, for example, highly competitive. The level of attainment for academic and co<urriculum work was
generally good and in many cases excellent as shown in more detail below.
The School's academie results in public exams were affected by the can¢ellation of exams and the
subsequent grades awarded by OFQUAL for GCSES and A levels. The School developed a robust
process in line with Government guidelines to afford pupils opportunities lo demonstrate their
capabilities within the required holislicjudgement of the centre assessed grading. The excellent results
continue to demonstrate the strong and improving academic performance with 290A of A level exams

CRANLEIGH SCHOOL
achieving A'12020.' 220AI and 91Dh A'_ B grade12020.' 850/01. The entry lo university this year has been
unique,. nevertheless, 99Yo of leavers were successful in securing places al their university of choice.
The School continues lo be encouraged that for more academtcally able pupils, as well as the tradib.onal
entry lo Oxford or Cambridge, students are gaining places and scholarships at Ivy League universities
and other leading universities in America,. of those gaining places in the UK, 81 Vo gained entry into
Rvssell Group or equivalent universities. Extended Project Qualification IEPQI exams were completed
prior lo the Covid-19 Sock down al the start of the year and so grades based on actual work were
awarded. The School continues to lake a national lead in the EPQ and11 is encouraging lo note that an
increasing number of universits'es, including a significant number in the Russell Group, now recognise
the value of EPQ by making a lower A level offer contingent on achieving an A" or A in the EPQ. This
year 600k of Year 13 pupils achieved A. or A grades in their EPQ12020." 550AI. GCSE results were also
awarded by centre assess￿ grades, using the same approach as used for A levels. The GCSE results
were excellent and a leslament lo the hard work of both pupils and staff with 74Q/o of exams achieving
grades 9- 7 (2020.70.￿l.
Cranleigh School retains ils place amongst the best schools in the country for academic performance
which, eombined with the breadth olthe education81 experience. enables pupils lo reach their potential.
Al Cranleigh Prep School every Form 6 (Year 81 pupil again moved to their first Choi￿ senior school
this year and many scholarships and awards were again granted lo Prep School pupils to their first
choice senior school. The School ¢ontinues lo be regarded as one of the best preparatory sehools in
the country.
The School has a bro8d ethos and academic achievement is just one element of a pupil's education at
Cranleigh. Reslriclions on extemal travel meant that there were few external sport fixtures during the
year but staff were imaginative and joint inilialives lo develop sport and well-being were successful..
internal competitions replaced external fixtures and the 'Cranfit' initiative developed by the Director of
Sport Increased activity levels for all pupils. 'Cranfil' was particularly SUC￿ssful delivered remotely. Thi$
meant that, as in previous years. all pupils continued to play sport al least three times each week and
often daily, including atweekends. The internal competitions were a notable success with inter boarding
house, cross year group and eo-educalional sport. The latter was particularly successful for netball and
hockey. The competitive spirit of these internal competitions was impressive and level of attainment
was extremely h￿h, often more so than for inter school fixtures. 11 also allowed pupils to play sports
that they would not normally have experienced. One notsble increase in activity was for girls, cricket
and with a new coach this sport is increasing in significance at Cranleigh. in line with global development
of the sport. The success and depth of sport at Cranleigh continues therefore lo be impressive and
this was demonstrated by representative honours and medals ft)r young Old Cranleighans in the
England men's cricket team and at the Tokyo Olympics where two forTner pupils were part of the men's
and women's hockey team with the women's team winning the bronze med81. The School lakes great
pride in providing opportunities for all pupils to participate and recognises the strong link be￿een an
active lifestyle and well-being which was al the core of the 'Cranfit' inilialive. In this context sport is
just one part of a cohesive programme that includes provision of first class medical support, including
specialist sports medicine provision, strength and conditioning for all pupils and a balanced diet. This
is all part of the wider 'Cranleigh Being, initrative that provides pupils with the resilience for a healthy
lifestyle beyond Cranleigh.
The School gives high priority lo the performing arts. Lock down restrith'ons affected music significantly
but, as with other areas of Cranleigh's educational and co-curriculum provision, the musie department
devised a programme that enabled pupils to continue to practice and perfomi music al a level
appropriate to their development. These induded several outstanding online concerts that were filmed
and their broadcast had the added benefit of broadening the audience for musical events with all havlng
over 1,000 views on YouTube. A virtual Big Band was organised, using recordings from pupils al home.
and stitched together to create a complete perfofmance. There were a number of outstanding live
10

CRANLEIGH SCHOOL
concerts during the summer term when reslriclions had been lifted, notably from Year 9 pupils. Ten
pupils received Distinction al Grade 8 in a var¢ety of inslrumenls. One pupil at the Prep School
successfully auditioned for the National Youth Choir, several other pupils auditioned for the National
Children's Choir of Great Britain and one became a full-time Chorister at Guildford Cathedral. A
significant achievement was that a Year 13 pupil was awarded scholarship offers from all four London
Conservaloires. and after consideration. decided to aecept a major award from the Royal Academy of
Music.
The School has a rich history of drama and this year has seen another diverse range of productions.
There were outdoor plays in garden settings when restrictions allowed that were a great succes$ and
had the added benefit of a small audience largely comprising the parents of those pupils performing.
The inability lo perform inside meant that pupils were given the opportunity lo develop media skills and
particularly with the production of films. These were produced lo a very high standard and shown widely
through the school. Three pupils secured places at drama schools and a further three at universitie5 to
study drama.
Away from sport and the arts, pupils have been involved in a broad range of activits'es lo develop their
experience and exposure to leadership challenges. Outdoor ￿UCatIon retsins its important place in
the life of both schools. It was unfortunate that al both the Prep School and Senior School exlemal
activities were restricted. NO￿'thstandIng this the School's participation in the Duke of Edinburgh's
Award IDOEI continued. albeit in a slightly restricted format, with 39 bronze, 16 silver and 2 gold
certificates awarded. Furthermore, younger pupils were able lo experience camping and associated
outdoor activities which proved highly popular. The CCF was able to operate and it continues to expand.
It is stronger again this year than at any lime in the last decade with 174 eadels {2020.' 1391. During
the lock downs CCF conlinsjed online for all cadets. The CCF also makes up the core of the newsy
reformed shooting team which has entered teams into riffe competitions al Bisley for the first time in
many years. This activity has broadened opportunities available to pupils.
The majority of plans lo refurbish buildings at the Prep School that were put on hold al the start of the
Covid-19 pandemic, as reported in the 2020 DiTectors' Report, commenced at the start of summer 2021
and have all now been completed. This includes the reorganisalion and refurbishment of boarding
facilities and a new Learning Support department. The compleb.on of these projects leaves, at the Prep
School, just the refurbishment of the gymlthealre (The Wyatt Hall) from pre Covid-39 development
plans.
Publle benefit
Cranleigh School continues lo be committed lo the provision of public bener￿t in accordance with ils
founding principles. The requirement to report public benefrt in more detail is formalised in the Charities
A¢t2011.
The awarding of bursaries is a measurable means of providing public benefit. The Trustees consider
that bursaries, awarded lo those who would not otherwise be able lo afford the fees, are important, but
not lo the exclusion of the much wider benefitthat Cranleigh provides within the local community. Those
pupils who attend Cranlei9h and who receive this financial support contribute lo the School community
in a variety of ways and so enrich the whole School and, in some cases, the community outside the
School. The value of scholarships and bursaries to people who would not otherwise be able to afford
the fees to allend Cranleigh School was this year £1,044k12020. £1.174kl.
In addition to bursaries the School has engaged in many activities that provide public benefit in
accordance lo the Charity's objectives and these are listed in a register maintained by the School.
Examples of the types of benefit are partnerships with local maintsined schools so that teachers from
Cranleigh School teach at local maintained schools if there is a need for enhan￿rnent in a particular

CRANLEIGH SCHOOL
are8. Three members of staff are governors al local primary schools. The School's outreach programme
into the community is active and has during the year involved activities such as the relief of hardship
through support by Cranleigh Mission and support lo local sports clubs. Foty six local sports clubs use
the School's sporting facilities and outreach assistance includes maintenance by the School's grounds
departrnenl of the eslale at Glebelands School, the maintained secondary school bordering Cranleigh
School In many cases the School's support is focused on providing support lo the youth sections of
sports clubs. The School has formed a good relationship with the Surrey Virtual School supporting
educational programmes for looked after children. This theme of sctial responsibility important as
Cranleigh School aims to devek)p local Community projects.
11 is difficult, to measure accurately the financial cost lo the School of this public benefit. that is given in
addition lo bursaries. but it is certainly well Into six figures. The benefit provided by bursaries and other
activities can also be considered alongside the benefit of educating the 1013 pupils1191 in the primary
school sector) which, in itself. has saved the exchequer some £5,925,200kl this year.
Cranleigh Foundation is an integral element in the provision of public benefit. There are six Foundation
bursary holders (Foundalionersl in the School in September 2021 each with a bursary covering either
full fees or a significant proportion of full fees. The School continue3 to seek candidates to be
Foundalioners. The financial benefit lo Foundab'oners this year was £214k12020..£192kl.
FINANCIAL REVIEW
Results for the year
The School's consolidated net movement in funds in the attached financial statements is £10.S79k
12020.. {£931 kll. The surplus rnade by Cranleigh School (net incoming funds from operations before
transfers and investment gains) was £7,301k for the year12020'. £904kl. Following a renegotiation of
the School's overseas agreement with ils partner in Abu Dhabi, the School received a lump sum buy
out of future profit share obligations tola51ing £4,805k. The School will continue to receive management
fee income. The FRS 102 pension valuation is a non-cash item within the School's accounts and has
Calculated that the scheme has a fvnding surplus of £2.248k and that the funding level is in surplus
12020.. deficit of £1,716kl.
The Governing Body conducted regular reviews of the School's Tinancial performance throughout the
Covid-19 lock down, starting in March 2020. It was decided to discount fees during those periods when
remote learning for all pupils was implemented. The discount during these periods was 340/0 for
boarders and between 20¥0 and 25 /• for day pupils. Furthermore. the School, wherever appropriate,
were flexible with payment options for those families most effected by Covid-19 and in some cases
Covid bursaries were awarded.
Forecast for the ¢urrent year120211221
The Governing Body has considered several factors when fomiing their conclusion as to the use of the
going concern basis for the basis of preparation of these financial statements including a review of
updated forecasts lo 31 December 2023, a consideration of the key risks. inc5uding the impact of Covid-
19, that could negatively affect the charity and its working capital requirements. Recent Governing
Body financial reviews have focused on the risks for the current school year and beyond, including the
impact of Covid-19.
The Iwo schools started the school year in September 2021 with 679 pupils al the Senior School and
330 at the Prep School. This is a significant increase on pre-covid level$ against a background of
2020 Annual Report on Education Spending in England by the Instiwte of Fis¢al Studie5 (page 8). £6,000 per
pupil in secondary schools and £5,200 per pupil in primary schools.
12

CRANLEIGH SCHOOL
continued interest during the summei together with repulab'onal gain built up from a further period of
successftjl remote learning. Re-engagemenl with all pupils and parents, old. current and new is the
theme for the new year. Fee income for the first term of the 2021122 school year has been strong with
an indication that payment of fees will be consistent with previous years, albeit with a higher number
than usual of short term bursaries because of temporary financial shock caused by Covid-19
reslricts'ons. The brakes on expenditure have been lifted as school life returns back to normal bul
continues to be closely controlled. The School's cash flow forecast indicates that cash remains positive,
without the need to liquidate reserves, for most ￿enarIOS bul were there lo be school terms of
significantly lower income caused by another Covid-19 lockdown then reserves may need lo be realised
to remain cash positive and thereby provide working capital and meet the requirements of bank
covenants. Given this position the Governing Body concludes that School's finances at the start of the
currenl year and for the year ahead are sound and so it continues to adopt the going concem basis in
preparing the financial statements.
Investment policy, objectives and performance
The Governing Body has a balanced risk policy for investments. This is set out in the Statement of
Investment Principles which is reviewed annually. The Finance Committee has delegated responsibility
for investments to an Investment Committee. The Investment Committee comprises the Chair of the
Finance Committee, two former members of the Governing Body who each have specialist knowledge
and the Director of Finance. The Committee meet the School's investment advisors four times a yeaT
and provide a brief for the Governing Body at each Finance Committee meeting. Investment
performance is measured against appropriate benchmarks and the Finance Committee is satisfied that
performan￿ is good when measured against benchmarts. This year perfomiance has again been
ahead of inflation and the portfolio increased in value by 22.50A 12020.. 12.3YDII to £4,692k. The
Governing Body considers the performance of investments over the year lo be tracking well and in line
with benchmark total returns.
Reserves lev¢1 and policy
Cranleigh School has total reserves of £9,692k12020.' £6,830kl. The School's reserves policy is to
maintain sufficient unrestricted funds to meet an unexpected shortfall of revenue in order to provide
cash for three months operating costs al an average of £2,380k per monlh. The School's reserves
comprise the investment portfolio valued at £4.692k, the unused bank facility of £2,OOOk and unused
overdraft of £3.OOOk. Total reseTves at 31sI July therefore exceeded the £7,140k sum required by the
policy. This position has been re-examined after the year-end and in light of the financial impact of
Covid-19. Financial perfomiance remains strong at the dale of signing and the although the level gf
reserves al the year exceeds the sum required by the policy, this is considered appropiiale in the current
environment lo provide additional headroom for future potential challenges arising from Covid-19.
The Charity has not conducted active fund-raising during the year and the staff associated with fund-
raising were placed on the Government's Job Retention Scheme for much of the reporting year,
NO￿lthS￿ndlng this Cranleigh Foundation (Charity Number 1122918) raised £371k 12020.. £374k)
during the accounting year from donaltons and legacies.
Principal risks and un¢ertainties
Cranleigh School Goveming Body is responsible for the management of the risks faced by the Schwl.
Risk Management is delegated lo the Risk Management Group IRMGI which reports formally to the
Governing Body each autumn. This Committee comprises four members of the Governing Body and it
is assisted in Its work by senior management and other staff a5 necessary, The process provides
continuous assessment of risks through the auspices of the sub committees with each taking
responsibility for risks, and where appropriate miligalion, in ils given area of expertise. The generic
controls used by the Charity lo minimise risks include..
13

CRANLEIGH SCHOOL
oversight of key areas of risk, such as health and safety and safeguarding, by individually
nominated governors",
formal agendas for Committee and Board activity.,
formal strategic planning, reviewed annually and assisted by the Strategy and Risk Committee;
comprehensive budgeting and management accounting.,
established organisalional structures and lines of reporting..
formal written policies.,
vetting procedures as required by law for the protection of the vulnerable.,
compliance with regulations that apply to the running of a school..
declaration of conflicts of interest, renewed at each Governing Body meeting, including sub
committee meetings.
The most signfficanl extemal risk facing the School is the financial effect of Covid-19 and the associated
regulations to limil the spread of the virus. The School has opened successfully for the autumn term in
2021. The RMG is mindful that the situation could change. Measures therefore in place to miligale the
Covid-19 risk are..
A comprehensive risk assessment to ensure that internal procedures limit the possibility of
spreading Covid-19 within the School.
Enhanced remote learning to enable either a full femote offer or a blended offer allowing some
pupils to attend teaching whilst others are remote learning.
Financial measures to balance income wlth expenditure.
Regular Gov8ming Body meetings to review operations, plans and possible contingencies.
The previous direction given lo the executive to place Safeguarding of pupils as the School's first priority
remains and within this Covid-19 risks are an element of Safeguarding. Health and Safely is both a
Safeguarding and more general risk and both risks are residual and so will endure. The RMG is mindful
that with considerable effort devoted to mitigating Covid-19 risks there musl continue lo be emphasis
on Safeguarding in its widest sense.
Wfth this in mind, the School has embarked on a comprehensive programme of sex and relationships
education, working closely with Teach Us Consent to address issues of sexual violence raised by the
Otsled Enquiry followng the murder of Sarah Everard and the launch of Everyone's Invited. The School
has also prioritised anti-racist education and a governors, working party fomed in 2021 will support the
School leadership as it reviews and encourages diversity across the school
The level and breadth of activity at the S¢hool is impressive and the risks associated with all activities
are minimised by thorough planning and risk assessment Sports, injuries are monitored carefully, each
being tracked, to record trends in order lo identify those elements of sport most likely lo cause injury so
that mitigating actions can be taken. To release any potential pressures on the NHS ambulance seNice,
and prevent further risk of injury, all matches this term will have private medical facilities on the touch
line. There continues to be interest in the wider education community about the risk of injury on the
rugby fleld.
The Governing Body seeks lo understand some individual risks in more detail and from time-lo-time
initiates external scrutiny. There have been no external studies this year because resources have been
devoted to mitigating Covid-19 risks.
The Governing Body is satisfied that the major risks have been identified and controls put in place lo
adequately manage risk. 11 1$ recognised that systems can provide reasonable but not absolute
assurance that major risks ?re being managed.
14

CRANLEIGH SCHOOL
Future plans
The School Development Plan of 2015 is now complete. A new development cycle has commen
and will be complete by 2023. The core work of this plan is that Cranleigh School will continue lo
articulate and exlend its culture through Cranlelgh Thlnking, Cranlelgh Being and Cranleigh Giving.
Cranlelgh Thinking leaches pupils to think beyond the tes( to become independent learners who know
how to learn, adapting lo changing contexts.
Cranlèigh Being promotes a cullijre in which who we are and how we are is as important as what we
achieve and in which the well-being of all in the community is a priority.
Cranleigh Giving eneourages all in the community to think beyond theMse￿eS and lo considef how
they will share their resources. lime and expertise. It also seeks to widen access lo Cranleigh. offering
opportunities to young people from a diverse range of backgrounds and experience.
Together, these theme5 express the aspiration that all members of the community are encouraged to
be thinking. being, giving individuals who are able lo consider who they are, what they will be and how
they will be now and in the future. It is this aspiration that is lo be taken fO￿ard in the next school
development plan.
The Governing Body and senior executives are actively refining the development plan so that the School
remains resilient and continues lo advance its tharilable objects post the coronavirus pandemic. These
refinements will be considered during the current term and then in detail at the Governing Body strategy
day in Maich 2022.
STA TEMENf OF ACCOUNTING AND REPORTING RESPONSIBILITIES
The Trustees are responsible for the preparat￿In of the Tnjstees, Report and the financial statements
in accordance with applicable law and regulations. Company law requires the Iruslees to prepare
linancial statements for each financial year in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards) and applicable18w. 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 stale of affairs of the charitable company and of ils net incoming or outgoing
resources for that period. In preparing these financial stalemenls, the Trustees are required to..
select suitable accounting policies and then apply them ¢onsistenlly',
make judgments and estimates that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial ststemenls.,
prepare the financial slalements on the going concern bas￿ unless it is inappropriate to presume
that the charity will continue lo operate.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and
explain the charitable company's transactions and disclose with reasonable a¢cura¢y at any lime the
financial position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detects'on of fraud and other irregularities.
Insofar as ea¢h of the members of the Governing Body al the date of approval of this report is aware,
there is no relevant audit infoTmalion (information needed by the Charity's auditor in Gonneclion with
15

CRANLEIGH SCHOOL
preparing the audit report) of which the Charlly's auditor is unaware. Each member of the Governing
Body has taken all the steps that he or she should have taken as a member of the Governing Body in
order lo make himself or herself aware of the relevant audit information and to establish that the
Company's auditor is aware of that informats'on.
AufHORISA TION
This Annual Report, prepared undèr the Charities Act 2011 and the Companies Act 2006, was approved
by the Governing Body of Cranleigh School on 27th November 2021, including in their capacity as
company directors approving the Directors, and Strategic Reports contained therein, and is signed as
aulhorised on ils behalf by the Chaiman of the Governing Body.
Adrian Lajtha
(Chairman of Governing Body)
16

Independent Auditor's Report to the Members of Cranleigh School
Opinion
We have audited the financial statements of Cranleigh School I'lhe charitable company'l and its subsidiaries
I'lhe group'} for the year ended 31 July 2021 which compri$e Slalement of Financial Activities, Consolidated
and Company only Balan￿ Sheets, Consolidated Statement of Cashflows and notes to the financial statements,
including significant accounting policies. The financial reporting frarnework that has been applied in their
preparation is applicable law and United Kingdom A¢counling Standards, including Financi81 Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Praclicel.
In our opinion the financial ststements..
give a true and fair view of the slate of the group's and the ¢harilable company's affairs as at 31 July 2021
and of the group's income and expenditure, for the year then ended.,
have been propedy prepared in accordance with United Kingdom Generally Accepted Aceounling Practice,.
and
have been prepared in accordance with the requirements of the Companies Act 2006_
Basi5 for opinion
We conducted our aLtdit in accordance with Inlemalional SlandaTds on Auditing IUKI IISAS IUKII and applicable
law. Our iesponsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial slalements section of our report. We are independent of the group in accordance with the ethical
reqU1￿MentS that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with thèse requirements. We
believe that the audit eviden￿ we have obtained is suffic￿ent and appropriate lo provide 8 basis for our opinion.
Conclu$ion$ relatlng to going concorn
In auditing the financial statements, we have concluded that the trustee's use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo event8 or
conditions that, individually or collectively. may cast significant doubl on the charitable company's or the group's
ability lo continue as a going concern for a period of al least ￿e1ve months from when the financial statements
are aulhorised for issue.
Our responsibilities and the responsibilities of the Iruslees with respect to going concern are described in the
relevant sections of this report.
othor informatton
The trustees are responsible for the other information contained within the annual report. The other informatson
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 Gover the other information and, exeepl to the
extent otherwise expliciuy stated in our report. we do not express any form of assurance conclusion Ihereon.
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 othemise appears
to be materially misstated. If we identify such material inconsistencies or apparent material misststemenls, we
are required lo determine whether this gives rise to a material misslalement in the financial slalements
themselves. If. based on the work we have perfomied, we conclude that there is a material misslalemenl of this
other information, we are required lo report that fact.
We have nothing lo report in this regard.
17

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 Consislenl with the financial slalemenls.. 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 requlred to report by exceptlon
In light of the knowledge and undeTslanding of the group and 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 wlhin the trustees, report.
We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006
requires us lo report to you if, in our opinion..
adequate and proper accounting records have not been kept,, or
the financial statements are not in agreement wlh the accounting records and relums., or
certain disclosures of Iruslees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit
Responsibilities of trustees
As explained more fully in the trustees. responsibilities statement, sel out on page 15, the Iruslees (who are
also the directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
intemal control as the Iruslees delemine is necessary lo enable the preparation of financial ststemenls that are
free from material misslatemenl, whether due to fraud or error.
In preparing the financial stalemenls, the trustees are responsible for assessing the charitable company's ability
lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Iruslees either intend lo liquidate the charitsble company or to cease
operations, or have no realist￿ alternative but to do so.
Auditorfs responsibilities for the audlt ot the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstalemenl, whether due lo fraud or error, and lo issue an auditors report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI always detect a rnalerial 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.
Details of the extent to which the audit was considered capable of delecling irregularities. including fraud and
non-compliance with laws and regulations are set out below.
A further description of our responsibilitr'es for the audit of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.or
.uklaudilorsres
onsibilities. This description forms part of our
audilorfs report.
18

Extent to which the audlt was considered capable of detecting irregularities. including fraud
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We identified and
assessed the risks of material misststemenl of the financial statements from irregularities, whether due to fraud
or error. and discussed these between our audit team members. We then designed and performed audit
prO￿dureS responsive lo those risks, including obtaining audit evidence sufficient and appropriate lo provide a
basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company and
group operates, focusing on those laws and regulations that have a direct effect on the determination of material
amounts and disclosures in the financial stslements. The laws and regulations we considered in this context
were the Companies Act 2006. laxalion legislatr'on, together with the Charities SORP IFRS 1021. We assessed
the required compliance with these laws and regulations 85 part of our audit procedures on the related financial
statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which might be fundamental to the charitable company's and the
group's ability lo operate or lo avoid a material penalty. We also considered the opportunities and incentives
that may exist within the charitable company and the group for fraud. The laws and regulations we considered
in this context for the UK operations were The Education Ilndependent School Standards) Regulations 2014,
General Data Protection Regulation {GDPRI, Health and safety legislation and Employment legislation
We also considered compliance with IcL81 legislation for the group's overseas operating segments.
Auditing standards limit the required audit procedures lo identify non-cornpliance with these laws and
Tegulalions to enquiry of the Trustees and other management and inspection of regulatory and legal
correspondence, if any
We identified the greatest risk of material impact on the financial statements frorn irregularities. including fraud,
to be within the timing of recognition of voluntary income, the liming of recognition of other trading activities, and
the override of controls by management. Our audit procedures lo respond to these risks included enquiries of
management and the Audit & Risk Committee about their own identification and assessment of the risks of
irregularities, sample testing on the posting of journals, reviewing accounting eslimales for biases, reviewing
regulatory correspondence with the Charity Commission, Independent Schools Inspectorate. Ofsted and
reading minutes of meetings of those charged with governance.
Owing lo the inherent limitats"on$ of an audit. there is an unavoidable risk that we may not have detected some
material misstalemenls in the financial stslemenls. even though we have properly planned and perforrned our
audit in accordance with auditing standards. For example, the further removed non-complian￿ with laws and
regulations {irregularities} is from the events and transactions reflected in the financial statements, Ihe less likely
the inherently limited procedures required by auditing standard5 would identify it. In addition, as with any audit,
there remained a higher risk of non-deleclion of irregularities, as these may involve collusion. forgery, intentional
omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-
omplian¢e and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the tharitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 200S. Our audit work has been undertaken so that we might slate to the charitable
company's members those matters we are required to stale lo them in an auditor's report and for no other
purpose. To the fullest exlenl 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 bLidy, for our audit work, for this report or
for the opinions we have fomed.
Nicola May,
Senior Statutory Auditor
For and on behalf of
Crowe U K. LLP
statutory Auditor
London
Date 20th December 2021
19

CRANLEIGH SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
Ilncorporating an Income and Expenditure Accounti
FOR THE YEAR ENDED 31 JULY 2021
Trading
School Subsidiaries
Unrestrictgd Unre$trlcted Restricted
Funds
Funds
Funds
2021
2021
2021
£'ooo
£'ooo
£'ooo
Group
2021
£'ooo
Group
2020
£'ooo
Note
INCOME FROM..
Charitablo activltlgs
School fees
other income
othar trading activities
Facilities and trading income
Other incoming ￿sOurceS
Share of surplus from Joint Venture
Investments
Investment income
Bank and other interest
Voluntary sources
Donations and lega¢ies
Fundraising events
26.029
690
26.029
690
24,759
1.014
6,228
6,229
599
319
751
895
599
319
37
31
88
31
360
391
411
19
Total incomlng resources
27,387
6,547
397
34,331
28,101
EXPENDITURE ON:
Raising fund$
Trading ￿5t8
Share of loss from Joint Ventu
Other income-generating activities
Financing costs
Investment management
Fundraising & developTnent
Total deductiblè ¢o$ts
3S1
351
412
12
774
29
775
29
948
25
803
352
1,156
1,390
Charitable activities
Education and grant making
2S,818
56
25,874
25.807
Totrl gxpenditure
26,621
352
57
27,030
27,197
NET INCOMING FUNDS FROM OPERATIONS
BEFORE TRANSFERS AND INVESTMENT GAINS
6,195
340
7.301
904
Gainslllos$es} on investments
12
854
119
NET INCOME I IEXPENDITUREI
1,620
6.195
516
8.331
785
Transfers
Othèr re¢ognls&d gains I (loss￿}.
Pension scheme actuarial gainlllossl
5.276
{5.2761
20
2,248
1,716
NET MOVEMENT IN FUNDS FOR THE YEAR
9.144
919
516
10,579
{9311
FUNDS BIFWD 1 AUGUST 2020
36.462
387
1.468
38,317
39.248
FUNDS CIFWD 31 JULY 2021
45,606
1.306
1,984
48.896
38,317
The notes on page$ 24 10 40 form part of these account$
20

CRANLEIGH SCHOOL
BALANCE SHEETS AS AT 31 JULY 2021
School
2021
É'ooo
Sthool
2020
£'ooo
Group
2021
£'ooo
Group
2020
£'ooo
Note
FIXED ASSETS
Tangible assets
Investmènts
58,288
4,692
59,764
3,830
58,309
6,770
59,796
4,913
12
62.980
63.594
66,079
64,709
CURRENT ASSETS
Stocks
Oebtois- due within on6 year
dué after one year
Cash and bank balances
36
5.677
85
2.868
8,666
46
755
115
196
1,112
202
398
85
9,268
9,951
232
481
115
1,120
1,948
13
13
CURRENT LIABILITIES
Creditors payable wf(hin one year
14
8,3861
18,3861
7,970
17,9701
18.4801
(8,480)
18,0661
(8,0661
NET CURRENT ASSETS I ILIABILITIESI
280
6,858
1,471
{6,118
TOTAL ASSETS LESS CURRENT LIABILITIES
63,260
56,736
66,S50
58.591
LONG-TERM LIABILITIES
Creditors payab￿ after one year
15
(17,654)
118,064}
{17.654}
118,0641
TOTAL NET ASSETS EXCLUDING PENSION LIABILIT
45,606
38,672
48,896
40,527
Pension Scheme funding
20
12.2101
{2,210)
TOTAL NET ASSETS
45,606
36,482
48.896
38,317
FUNDS
Foundatson restricted funds
1,984
1.468
Trading subsidiaries
100
100
School unrestricted ftJnd8
45,606
38,672
46,812
38,959
Pension reserve
20
2.2101
2,210
TOTAL FUNDS
18
45.606
36,462
4B,896
38,317
The net movement In funds for the financial year dealt with in the financial statements of the parent company was £9,144k
12020.'1 £1,414k}I
Approved and authorised for issue by the Govemors on 11 November 2021
ands
ned on Ihair bf half by
Adrian Lajtha (Chairman of Goveming 8odyl
The notes on page5 24 to 40 form part of these accounts
Company No.3595824
21

CRANLEIGH SCHOOL
CONSOLIOATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2021
2021
£'ooo
2020
£'ooo
Net cash inflow from operatlons
Nel cash provided by I (used inl operating activities lal
10,865
3.125
Cash flows from investing actlvltles
Payments for tangible fixed assets
Proceeds on sale of tangible fixed assets
Purchase of investments
Withdrawals from investments
Invoslmenl income and bank interest received
12841
1537}
29
37
12601
24
60
Net cash {used inl I providgd by investing activities
17551
1287)
Cash flows from financlng activities
Finance costs paid
Advance fees..
{6S91
1.883
53
{1,6201
1.6191
{7191
994
48
11.9431
594
New contracts
Accrued to contracts
Appropriations
Loan Facility
Net ¢a$h provided by flnancing activities
{1,9621
{2,2141
8,148
1,619
624
594
Debt repayment {netl
Change in cash and cash equivalents in the reporting period
9,767
1.218
Cash and cash equivalents at the beginning of the reporting period
118,158)
{19,3761
Cash and cash equivalents al the end of the reporting period Ibl
8.391
18,158
The notes on pages 24 to 40 fom part of these financial statements
22

CRANLEIGH SCHOOL
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2021
lal Reconciliation of net income lo net cash flow from operating activities
2021
£'ooo
2020
£'ooo
Net incoming resources
Elimination of non-operating cash flows..
Investment income
Finance costs paid
Pension gains less contributions paid
Depreciation
Profil from disposal of assets
Ilncrease)IDecrease in stock
Decreasel{InGreasel in debtors
Increasel{Decreasel in c￿dItorS
7,300
904
1371
659
(2,210}
1,771
1601
719
1.685
1,878
30
115
3,237
15
99
2,113
3,565
2,221
10,865
3,125
Ib} Analysis of cash and cash equivalents
1 August
2020
£, 000
Cash Flow
31 July
2021
£. 000
£, 000
Cash al bank and in hand less overdraft
Loan facility- Handelsbanken
1,120
19,278
8,148
1,619
9.268
17,659
118,1581
9,767
{8,3911
23

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
ACCOUNTING POLICIES
The School is a Public Benefit Entity registered as a charity in England and Wales and a eompany limited
by guarantee. It was incorporated on 9 July 1998 (Company No. 35958241 and registered as a charity
(Charity No. 1070856}.
The financial statements have been prepared in accordance with the Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)
leffective 1 January 20151, the Financial Rewrting Standard applicable in the UK and Republic of Ireland
IFRS 102) and the Companies A¢1 2006.
The functional currency of the School is considered to be GBP because that is the currency of the primary
economic environment in which the School operates.
The accounts are drawn up on the historical cost basis of accounting, as modified by the revaluation ol
investment properties and other investments.
Having reviewed the funding facilities available to the School tO9elher with the expected ongoing demand
for places and the School's future projected cash flows, the Governors have a reasonable expectation that
the School has adequate resour￿$ lo continue ils activities for the foreseeable future and consider that
there were no material uncertainties over the School's financial viability. Accordingly, they also continue to
adopt the going concern basis in preparing the linancial stslem8nts as outlined in the Slalement of
Accounting and Reporting Responsibilities on page 15.
The accounts p￿sent the consolidated statement of financial 8clivities ISOFAI, the consolidated cash
flow statement and the consolidated and Charity balance sheets comprising the consolidation of the
School and with ils wholly owned subsidiaries Cranleigh Enterprises Limited (Company No. 29021131,
Cranleigh Foundation (Company No.11229181 and Cranleigh Education Services Limited (Company No.
82245451. Cranleigh Education Services Limited also has a 50,1¢ share in CR Education Ltd a United Arab
Emirate Joint Venture. 500/0 of the Joint Venture profits are included in the Group accounts. No separate
SOFA has been presented for the Chanty alone. as pemitted by Section 408 of the Companies Act 2006.
The net incoming reSoUr￿S of the Charity are disclosed on page 28. The charity has taken advantage of
the exemptions in FRS 102 from the requirements lo present a charity only Cash Flow Statement and
certain disclosures about the charity's financial instruments. The charity ha5 taken advantage of
exemption 408 of the Companies Act and as such a separate parent income statement has not been
prepared.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the accounting policies, Trustees are required lo make judgement, estimates, and
assumptions about the carrying value of assets and liabilities that are not feadily apparent from other
sOu￿es. The estimates and underlying assumptions are based on historical experience and other factors
that are considered to be re￿Vant. Actual results may differ from these eslimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
estimates are recognised in the period in which Ihe 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 School has recognised its liability in relabon to the Cranleigh School Pension Scheme which involves
a number of estimations as detailed in note 20.
24

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEO}
FOR THE YEAR ENDED 31 JULY 2021
ACCOUNTING POLICIES Icontinuedl
The following accounting policies have been applied consislenlly in dealing with items which are
considered material in relation lo the School's financial statements.
1.1 FÈ0$ and similar earned income
Fees receivable and charges for services and use of the premises, less any allowances, scholarships,
bursaries granted by the School against those fees, bul including contributions received from restricted
funds, are accounted for in the period In which the service is provided.
1.2 Investment Income
Investment income from dividends. bank balances and fixed interest securib.es is accounted for on an
accruals basis. Income from investment properties is accounted for in the period lo whith the rental
income ielates.
Rental income lincluding in¢enlives received or paid) for operattng leases on investment property are
recognised in profit or loss on a straight line basis over the lease teTm.
1.3 Donations. legacle59 grant$ and other voluntary incoming resources
Voluntary incoming resources are accounted for as and when entitlement arises. the amount can be
reliably quantified and the economic benefit to the School is considered probable.
Voluntary income for the School's general purposos is accounted for as unreslricled and is credited to the
General Reserve. Where the donor or an appeal has imposed trust law restrictions, voluntary income is
credited to the relevant restricted fund and incoming endowments are accounted for as permanent trust
capital or expendable trust eapital, aecording to whether the donor intends retention is lo be permanent or
not. Gifts in kind are valued al estimated open market Value at the dale of gift, in the case of assets for
retention or consumption. or at the value to the Sohool in the case of donated services or facilities.
1.4 Advance F99 Scheme
Interest is paid by the charity on the advance, in which case the transaction is in substance a loan and is
classed as a basic financial instrument. The financing cost is the interest paid and this musl be l￿ated as
an interest expense. Ilf the interest rate paid is below the market rate for an equivalent loan. then the loan
may qualify for treatment as a concessionary loan)
1.$ Expenditure
Expenditure is accrued as soon as a liability is considered probable. discounted lo present value for
longer-term liabilities. Expenditure attributsble to more than one cost category in the SOFA is apportioned
to them on the basi5 of the estirnated amount attributable to each activity in the year, either by referen¢e
lo staff time or the use made of the underlying assets, as appropriate. The direct costs incurred in
preserving the School's ancient buildings and their contents are shown as a charitable activity distinct
from that of education and grant making. Irrecoverable VAT is included with the ilern of expendilufe to
which il relates.
Grants awarded are expensed as soon as they become legal or operational commitsmenls. Governan
costs comprise the costs of complying with consts"tulional and statutory requirements. Intra-group sales
and charges between the School and ils subsidiaries are excluded from trading ineome and expenditure
25

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
ACCOUNTING POLICIES (continued}
1.6 Tangible fixed assets
Expenditure on the acquisition, construction or enhancement of land and buildings costing more than
£5,000 together with vehicles. fumiture, machinery, ICT infraslruclure and other equipment costing more
than £5,000 are capitalised and carried in the balance sheet at historical cost. In certain circumstances,
where the original costs of assets are not ascertainable, 8 ieasonable estimate of the cost, rf material, has
been used.
Cxher expenditure on equipment incurred in the normal day-lo-day running of the School and ils
subsidiarie5 is charged to the Statement of Financial Activities as incurred.
1.7 Depreciation
Depreciation is Provided lo write off the cost of all relevant tangible fixed assets less estimated residual
value based on current market prices, in equal annLbal instalments over their expected useful economic
lives as follows..
School buildings, including major extensions
Staff housing
Furniture, machinery and equipment
Motof vehicles
15-50 year5
50 years
3-30 years
5 years
4 years
1.8 Investments
Investment properties are valued as individual investments al their maTkel values as at the balan￿ sheet
dale. Rental income is recognised in thè period to which it relates. Purchases and sales of investment
properties are recognised on exchange of contracts.
Listed investments are valued al market value as at the balance sheet date. Unrealised gains and losses
arising on the revaluation of investments are credited or charged to the Statement of Financial Activities
and are allocated to the appropriate Fund according to the "owneiship of the underlying assets.
Investments In subsidiaries are valued at cost less provision for impairment.
1.9 Stock
Stock represents goods for resale and is valued at the lower of cost and net realisable value.
1.10 Fund accounting
The charitsble trust funds of the School and Ils subsidiaries are awounled for as unrestricted or restricted
income, in accordance with the terms of trust imF)osed by the donors or any appeal to which they may
have responded.
Unrestrlcted income belongs to the School's COTporate reserves, spendable al the discretion of the
Governors either to further the School'5 Objects or lo benefit the School itself. Where the Governors
decide to set aside any part of these funds to be used in future for some Specif￿ purpose. this is
accounted for by transfer to the appropriate designated fund.
Restricted income comprises gifts, legacie5 and grants where there is no capital retention obligation or
power but only a tnjst law restriction to some specific purpose intended by the donor.
26

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENOED 31 JULY 2021
ACCOUNTING POLICIES (continued)
1.11 Pension costs
Retirement benefits to employees of the School are provided through three pension schemes. defined
benefit and one defi'ned contribution. The pension eosts charged in the Statement of Financial Activities
are determined as follows..
(al The Teachers. Pension Scheme - This scheme is a mulli-employer pension scheme. It is not FK)ssible
to identify the School's share of the underlying assets and liabilities of the Teachers, Pension Scheme on
a consistent and reasor¢able basis and therefore, as required by FRS102, 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 Govemmenl Aclu8ry. are eharged in the period in which the salaries to whi¢h
they relate are payable.
{bl The Cranleigh School Pension Scheme - This is an occupab'onal defined benefit scheme. The defined
benefit pension scheme current service costs are charged lo the Statement of Financial Activities within
staff costs. The expected return on the scheme assets less the scheme interest Costs are credited within
other interest. The scheme actuarial gains and losses are recognised immediately as other recognised
gain5 and losses. The defined benefit scheme assets are measured at fair value at the balance sheet
dale. Scheme liabilities are measured on an actuarial basis at the balance sheet date using the projected
unil method and discounted al a rale equivalent to the current rale of return on a high quality corporate
bond of equivalent term lo the scheme liabilities. The resulting defined benefit liability is presented
separately after other nel assets on the face of the balance sheet. If the School cannot recover any
pension scheme asset. It is not reeognised in accordance with FRS 102.
Ic) The Cranleigh School Group Personal Pension Plan This is a defined contribution group personal
pension plan with Aviva. Employer's pensions Costs are charged in the period in which the salaries to
which they relate are payable.
1.12 Opgratlng leases
Rentals under operating leases are charged on a straight-line basis over the lease term. even if the
payments are not made on such a basis. Benefits received and receivable as an incentwe lo sign an
operating lease are similarfy spread on a straight-line basis over the lease term.
1.13 Financial instruments
Basic financial instruments are initially recognised al transaction value and subsequently measuied at
amortised with the exception of investments which are held at fair value. Financial assets held al
amortised cost comprise cash al bank and in hand, together with trade and other debtors. A specific
provision is made for debts for which recoverabi5ity is in doubl. Cash at bank and in hand is defined as all
cash held in instant access bank accounts and used as working capital_ Financial liabilities held al
amortised cost comprise all cred￿tOrS except 59cial security and other taxes and provisions. Assets and
liabilities held in foreign currency are translated lo GBP al the balance sheet dale al an appropriate year
end exchange rate.
27

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
2. CHARITABLE ACTIVITIES- FEES
2021
£'ooo
2020
£'ooo
Fegs receivable consist of:
Gross fees
Less.. Total bursaries. grants and allowances
Add back.. Bursaries paid for by donations lo the Fee Relief Fund
30,059
{4,0551
2S
28,629
13,9251
55
The above educational awards were made lo 384 pupils {2020 ". 3881.
26,029
24,759
3. SUBSIDIARY COMPANIES
Cranleigh Enterprises Limited, is a company in which the School owns all 100 £1 shares. and the aggregate
amount of assets, liabilities and funds is £14.9k. The trading activities of Cranleigh Enterprises Limited
comprise a retail operation (supplying school clothing, sportswear and sports equipment, for pupils, teathers
and employees of Cranleigh School), and the leth'ngs of School facilits'es. The turnover was £320k and the net
profil £22.3k with £46.2k of net funds. The net profit earned by this company Is donated annually to Cranleigh
School under Gift Aid. The value of goods and services supplied lo the School by the company in the year was
£47.4k 12020 £54.9kl and the value of services supplied to the company by the School in the year was £Ok
12020 £Nill. The Gift Aid donation for the year of £31 k12020 ." £85kl has been Shown on the Statement of
FinanclaS Activities as a transfer lo the School.
Cranleigh Education Services Lirniled is a company in which the School owns all 100 £1 shares and the
aggregate amount of assets, liabilities and funds is £881k. The trading acb'vilies of Cranleigh Education
Services Limited is lo facilitate the eslabli5hmenl of overseas schools and then monitor the running of overseas
schools once open. The turnover was £5,908k and the not profil £5,852k. There were no services supplied to
the School by the Company in the year and £27,7k services supplied lo the Company by the School in the year.
The Gift Aid donation for the year tsf £5.245k 12020 . £214kl has been shown on the Statement of Financial
Activities as a transfer lo the School.
Both trading companies are now consolidated within the group financial statements as detailed In the Statement
of Accounting Policies.
Cranleigh School is also the sole member of Cranleigh Foundation, a company limited by guarantee established
to promote and advance any charitable purpose directly conne¢ted with Cranlei9h School. The financial results
of Cranleigh Foundation are induded as the Foundation restricted funds within these consolidated a¢¢oun15
2021
£'ooo
2020
£'ooo
4. CHARITABLE ACTIVITIES - OTHER INCOME
Educational visits
Activities
Other
182
115
294
83
16
408
216
301
52
37
Rental income
Registration fees
Other
690
1,014
5. OTHER TRADING ACTIVITIES
2021
£'ooo
2020
£'ooo
Facilities and trading Incomg
Cranleigh S¢hool
Cranleigh Enterprises Ltd
Cranlelgh Education Services Ltd
31
432
288
320
5,908
6,229
751
OtheT incoming rg$ourcg$
Surplus on asset sales
Foundation Irecoveriesl
Other
599
891
599
895
Share of surplus from JV
C R Education Ltd (see note 121
28
319
164

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 JULY 2021
2021
£'ooo
2020
£'ooo
INVESTMENTS
Invèstment income
88
Bank and other Interest
Bank interest
VOLUNTARY SOURCES
2021
£'ooo
2020
£'ooo
Donatlons and legaci•5
Donations to Cranleigh School
Donations to Cranleigh Foundation
57
334
83
328
391
411
Dufing the year Cranl6igh Foundation has awarded grants lo Cranleigh School totalling £Ok 12020.. £4kl to supwrt
bursaiies and various capital projects being carried out by the School, a1101 which were completed In the year.
Cranleigh Education Services donated £Ok12020.' Eokl lo the School durin9 the year.
2021
É'ooo
2020
£'ooo
19
Fundrai3ing events
Cranleigh Foundation Lld
8. ANALYSIS OF EXPENDITURE
Total
2021
£'ooo
Toial
2020
£'(xJo
staff Costs
£'ooo
Other
£'ooo
Deprecialk)n
£'(M)o
al Total expendlture
Costs of generating funds
Trading costs
Cost of other aetivilies
Financing costs
Investment
FundraSsing
70
270
351
412
775
29
775
29
25
Total costs of generatlng funds
Charitable expenditure
Education and grant making
Teaching costs
Wglfare
Premises
Support costs and governance
Grants and awards
70
1.075
1,156
1,39)
12.629
2,594
1,015
812
1,777
1,280
2,430
1.521
102
13
1.458
187
14,508
3,887
4.903
2,520
56
14,858
3,532
4,710
2,625
82
Total charltable expendltur•
17,050
7.064
1.760
25.874
25.807
Total expended
17,120
8,139
1,771
27,030
27,197
2021
£'ooo
2020
£'ooo
bl Grants and awards
From R8Stricted Funds:
From Unrestricted Funds..
Bursaries
Bursaries
25
31
55
27
56
82
cl Governance Included In support Costs
2021
£'ooo
2020
£'ooo
Remuneration paid to auditor fc* audit semces..
Schcx)I
Subsidiarie8
Reimbursement of pgrson81 expense8 to Governors- travel costs
Other governanco costs
26
25
125
261
159
294
Travel expenses were reclaimed by nil membÈrs12020.. 21 of the Goveming Body.
In addition to the above audrt iernuneralion the auditor re￿1Ve￿ fee5 for tsxation compliance Services totalling £4.6k
12020.. £12.1kl
29

CPANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
2021
£'ooo
2020
£'OCM)
FINANCING AND OTHER COSTS
Bank Interest and Charges
A4v8n¢ed fees discounts
722
53
900
48
775
948
10. STAFF COSTS AND REPLATED PARTY TRANSACTIONS
2021
£'ooo
2020
£'ooo
The aggregate payroll costs for Ihe year were as follow3
Wages and salaries
Social security costs
Pension costs
13,393
1,307
2,420
13,087
1,278
2,287
17,120
16,652
No Govemor received remuneration in 2021 12020". £16.3kl from Cranleigh Educ31ion Services Ltd. The granting of a
benefit to any Governor is consi51ent with the School's policie5 for benefits and no Governor receives any remun¢iation
or benefit that would not be available to a parent.
Aggrègat8 employetrbenefits of 1812020.. 181 key management personnel
1,904
1,911
The number of highèr paid employees in bands of..
£ 60.001 - £ 70,000
£ 70,001- £ 80,000
£ 80,001- £ 90,000
£ 90,001- £100,000
£ 100,001 £110,000
£ 110,001 £120,000
£ 120,001 - £130,000
£ 130,001 - £140,000
£ 140.001 - £150,000
£ 150.001 £160.000
£ 160,001 - £170,000
20
18
34
33
The nuinber with relirement beneffits accwing
in Defined Contribuiion scheme5 was
31
of which the contrlbutlons amounted to
£506,000
£493,000
The average number of the Schoofs employees during the year calculated on a fvll time eqU￿alent basis was 341
12020-. 3351. The average headcount for the year was 401 12020.. 4081
2021
£'ooo
2020
£'(x)o
Teaching
Welfare
Premises
Support
Other activVÉies
166
80
32
14
49
165
74
33
14
49
341
335
Durtng the year no lerminatlon payments were made12020'. £NIII. Th6re ￿re none outslandlng at the year end.
30

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
11. TANGIBLE HXED ASSETS
Freehdd
Land &
Buildings
£'ooo
Assets
Unrler
Con$lru¢lion
£'ooo
Motor
Vehides
£'ooo
Fittings &
Equipment IT Hardware
£'ooo
£'ooo
School and Group
Total
£'ooo
Cost lor frozen valuationl
At 1 August 2020
Additsons
Tiansfer8
Disposals
Al 31 July 2021
Depreclation
At 1 August 2020
Charge for year
Disp05als
Al 31 July 2021
Net book values
Al 31 Juw 2021
56,284
783
Al 31 Ju5y 2020
57.687
670
The Sehool's fixed a53ets total £58,288k and Cranleigh Enterprises £21 k.
All tangible fixed assets are held lor use on charitable activies.
The freehold land and builrlixgs, gxcluding separate buildings, comprtsing Crankigh School and Cranleigh Preparatory
School were revalued in 1999. Buildings were not prewously depreciated, bul with effect frorn l August 2005. depieciation
is calculated over 50 years for all School buiEdings. WhÈn building projects are still in progress at the year erld,
depreciation Is not Calculated until the financial year in which the asset is brought into full use. Land is not depreciated.
School
School
Group
Group
2021
2020
2021
2020
£'ooo
t'ooo
£'ooo
£'ooo
72,339
670
93
238
4,138
52
2,192
134
79.577
284
441
1177
2,149
2271
79.634
72,344
763
14.652
1,428
205
3.003
152
1,921
180
177
1,924
19.781
1,771
227
21,325
16
210
16,080
3,111
22
33
1,035
1,135
225
271
58,309
59,796
12. SECURITIES INVESTMENTS
Group rnvestments
Balance al 1 August 2020
New money invested from rèalised gains
New money invested
Reiovesled Income
Investment managemeTrt fees
In¢reaselldecreasel in value of inves¢rnenls
Group Investments at 31 Juty 2021
Balance at 1 August 2020
Inveslment in Subsidiary
Subsidiary investment in Joint Venture
3,632
3.722
4,618
4.501
500
37
1291
1,030
6.156
295
200
60
1241
119
4.618
148
37
1291
854
4,494
198
60
1241
126
3.632
198
319
614
6,770
147
295
4.913
198
4.692
198
3.830
School Investments at 31 July 2021
Investmènts comprise:
Listed investrnenls- Equities
Cash
Group investments
Investment in Subsidiary
Subsidiary investment Sn Joint Venture
4,480
14
4,494
198
3,595
37
3,632
198
6.142
14
6,156
4,581
37
4.618
614
198
198
614
295
4,692
3.830
6,770
4,913
In addition lo the above investments, cash baLgnces within the Fees in Advance Scheme a￿ included ir Current assets a5
cash deposits.
The rnain Securities invastment5 are managed for the Sthool by 8rewin Dolphln Ltd. All Investments are managed 8nd
held in the UK.
Original cost of investrnents held al 31 July 2021 is £2.078m12020 .. £1.939ml
The School has invested £198,001 in Cranleigh EdLSCatK)n Serv￿e5 Ltd purchasing all 100 shares.
Cranleigh Education Servlces Ltd also has a 50°/o share in CR Education Ltd a United Arab Emirale Joint Venture in
relation lo ￿e Construction. operation and management of a school in Abu Dhabi. Cranleigh Education Services Ltd holds
50 shares wilh a nominal value of Dirharns 1000 each. With the school having opened in Septernber 2014, Crallleigh
EducatlDll Services Ltd now incorporales 50Vh of the Joint Venture profit to 31 August 2020 and 70¢A ol the Joint Venture
profit from 1 September 2020 10 31 July 2021. The subsidiary's share ol tumover for the year ended 31 July 2021 was
£6.635k12020.' £466kl with a net profit of £5,774k12020'. £164kl and the aggregate share of assets, liabilities and funds of
the Joint Venture is £606k12020.' £287kl.
School investments
31

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
School
2021
£'ooo
School
2020
£'ooo
Group
2021
£'ooo
Group
2020
£'(K)o
13. DEBTORS
Fees
Sundry debtors
Prepayments
Staff loans
Amounts due from Cranleigh Enterprises Ltd
Amounts due from Cranleigh Education Services Ltd
Gift aid donations from subsidiary companies
17
91
167
101
110
173
78
107
122
91
17
196
167
101
173
194
107
122
5,276
5,762
299
870
481
596
Al debtor5 are due within one year, except for £85k12020."£115kl of staff loans, which are due after more than
one year.
The abov@ fees are nel of bad debt provision £353k12020'.£394k)-
School
2021
£'ooo
Sct)ool
2020
£'ooo
Group
2021
£'ooo
Group
2020
£'ooo
14. CREDITORS .
amounts falling due wlthin ono year
Bank loans (see Note 17)
Fees received in advance
Final term deposits
Taxation, social security and pension contributions
Amounts due to Cranleigh Enterprises Ltd
Overdraft
Other creditors and accruals
1.626
751
2,049
726
2,604
615
1,822
692
1.626
751
2,049
72
2,604
615
1,822
692
1.969
7,121
1,265
8.386
1,056
6,789
1.181
7.970
2,063
7,215
1,26S
8,480
1,152
6.885
1,181
8,[￿6
Advance fees (see Note 161
School
2021
rooo
School
2020
£'ooo
Group
2021
£'ooo
Group
2020
£'ooo
1 S. CREDITORS ..
amounts falling due after on9 yaar
Bank loans {see Note 17}
Advance fees (see Note 161
16.033
1.621
17,654
16.674
1,390
18,064
16.033
1,621
17,654
16,674
1,390
18.064
32

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
16. ADVANCE FEE PAYMENTS
Parents may enter into a contract lo pay lo the School up to the equivalent of len years, luilion fees in
advance. The amounts Teceived are treated as deferred income and form part of the School's working
capital. Fees 8re taken lo income for each term as the relevant pupils progress through the School. Advance
payments may be relumed subject lo specific conditions on the receipt of one term's noti￿.
2021
£'ooo
2020
£'ooo
Assuming pupils will Temain in the School, advance fees wi15 be applied as follows -.
After 5 years
Within 2 to S years
Within 1 year (Note 141
1,621
1,265
1.390
1,181
2,886
2,571
The balance represents the accrued liability under the contracts, and the movements during the year were..
£'ooo
£'ooo
2,571
1,882
53
4,506
Balance at 1 August 2020
New conlraGIs
Amounts accrued lo contracts
Amounts utilised in payment of fees..
To the School
To other schools
Refunds
11,564)
1521
1.6201
2.886
Balance at 31 July 2021
17. LOAN FINANCE
Credit facilities with Handelsbanken are currently in place, on which interest is payable al normal cornmercial
rates. The loan facilities are secured by separate First Legal Mortgages executed by the School over Certain
freehold properties owned by the School. The structure is shown in the following table.
£'ooo
3.080
1.259
2.482
3,000
2,205
2,260
2.232
2.210
931
5.330h Fixed late amortizing credit facility expiring 23 April 2022
Libor + 1.65010 amortizing credit facility expiring 25 July 2022
5.28% Fixed rate amortizing credit facility expiring 30 March 2024
Libor + 1.65OA revolving credit facility expiring 30 March 2022, £3m available, £1 m utilised
2.91 % Fixed rale 8mortizing credit facility expiring 17 July 2022
3.24% Fixed rale amortizing credit facility expiring 2 April 2023
2.95Vo Fixed rale amortizing credit facility expirin9 22 November 2022
2.770/0 Fixed Tale amortizing credit facility expiring 12 August 2022
3.070h Fixed rale amortizing credit facility expiring 29 March 2024
19,659
The facilities are repaid by quarterly installmenls with the exception of the revolving credit which is repayable
on malurily. All facilities mature as follows..
2021
£'ooo
13,305
2,728
1,626
2020
£'ooo
14.038
2,636
2,604
After 5 years
Within 2 10 5 years
Within 1 year
17,659
19,278
In addition there is a revo￿1n9 current account overdraft facility from Handelsbanken of £3m expiring on
30 September 2022.
33

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
18. STATEMENT OF FUNDS
8al8n
1 August 2020
£'ooo
Gainsl
Balance
Ilossesl 31 July 2021
£'ooo
£'ooo
Income
£'ooo
Expenditure
£'ooo
Fees relief fund
Foundation
25
372
1251
(321
1,468
176
1,984
Total restricted funds
1,468
397
{57}
176
1,984
Total unrestricted funds
36,849
33,934
126,973)
3,102
46,912
Total funds
38,317
34.331
127,0301
3.278
48.896
The funds of the Foundation are eonsidered to be restricted given the aims and objects are narrower than
the Sehool and as such are accounted for as a restricted fund in the Group.
19. COMPARATIVE STATEMENT OF FUNDS Irestatsdl
Balance
1 August 2019
£'ooo
Gainsl
Balance
Ilossesl 31 July 2020
£'oiJo
£'ooo
Income
£'ooo
Expenditure
£'ooo
Fees relief fund
Foundation
55
374
155}
1381
1,125
1,468
Total restricted funds
1,125
429
1931
1,468
Total unrestricted funds
38.123
27,672
127,1041
{1,8421
36,849
Totsl funds
39,248
28,101
(27,1971
11,8351
38,317
20. PENSION SCHEMES
Retirement benefits to employees of the School are provided through defined benefit schemes and
one defined contribution scheme, which aTe funded by the School's and employees, conlribulions.
Deflned bengfit schemes
Teachers. Pension Schemg
The School participates in the Teachers, Pension Scheme {'Ihe TPS.) for ils leaching staff. The pension
charge for the year includes contributions payable to the TPS of £1,738k {2020.' £1,654kl and al the year-
end £144k12020'. £134kl was accrued in res￿1 of contributions to this scheme.
The TPS is an unfunded mulli-employer defined benefits pension scheme governed by The Teachers,
Pensions Regulations 2010 las amended) and The Teachers, Pension Scheme Regulations 2014 la$
amendedl- Members contribute on a'pay as you go. basis with contributions from members and the
employer being credited lo the Exchequer. Retirement and other pension benefits are paid by public funds
provided by Padiament.
The employer contribution rate is set by the se¢￿tary of Slate following scheme valuatsons 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 Ret)0¢ which wa5 published in March 2019, confirmed that the
employer contribution rate for the TPS would increase from 16.4DA to 23.6Q/o from 1 September 2019.
Employers are also required to pay a scheme administrats'on levy of 0.08Yo giving a totsl employer
contribution rate of 23 68°k.

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
20. PENSION SCHEMES {continuedl
The 31 March 2016 Valuation Report was prepared in accordance with thè benefits sel out in the scheme
regulations and under the approach specified in the Directions. as they applied at 5 March 2019. However,
the assumptions were consideied and set by the Department for Education prior lo the ruling in the
'McCloudlSargeanl case,. This case has required the courts to consider cases regarding the
implementation of the 2015 reforms lo Public Service Pensions including the Teachers, Pensions.
On 27 June 2019 the Supreme Court denied the government permission lo appeal the Court of Appeal's
judgmenl that Iransilional provisions introduced lo the reformed pension schemes in 2015 gave rise lo
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 represenlalives lo agree how the
discriminations will be remedied. The government annoUn￿d on 4 February 2021 that il intends to pro￿ed
wllh a deferred choice underpin under which members will be able lo choose either legacy or refomied
scheme benefits in respect of their Servi￿ during the period be￿een 1 April 2015 and 31 MaTch 2022 al
the point they become payable.
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 lo the Treasury, having in 2018 announced that
there would be a review of this cost cap mechanism, in January 2019 announced a pause lo the cost cap
mechanism following the Court of Appeal's ruling in the Mccloudlsargeant case and until there is ￿rtaInty
about the value of pensions lo employees from ApTiI 2015 onwards. The pause was lifted in July 2020, and
a consullalion was launched on 24 June on proposed changes to the c951 Control mechanism following a
review by the Government Actuary. The consultation closed to response on 19 August 2021 and the
Government is currently analysing the responses.
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 cost cap mechanism review is completed it is not possible to conclude on any financial impact or
future changes lo the contribution rates of the TPS. Accordingly no provision for any additional past benefit
pension costs is included in these financial stalemenls.
Cranlelgh School Pension Scheme
The School operates a defined benefit scheme for non-leaching staff, the Cranleigh School Pension
Scheme. The scheme was closed to new members wlh effect from 1 January 2013. though it remains
open to existing members. As of 1 January 2013. the School established a generous defined contribution
scheme for new employees Isee page 371.
Contributions are made to the scheme in accordance with the recommendations of the scheme's actuary
and are charged lo the Statements of Financial Activities. Following the signing of the latest valuation in
May 2019 the School's contribution increased to 22.5D/o. In addition the School paid contributions l01811ing
£89,400 in respect of the past service deficit. At 31 July 2021 £0 was accTued in respect of pension
contributions to this scheme12020'. £0).
Following the latest fvll Actuarial Valuats'on al 6 April 2018, the Trustees of the Cranleigh School Pension
Scheme agreed with Cranleigh School, the employer, to continue with a recovery plan designed to
eliminate the deficit from 6 May 2019 until 31 January 2028. Cranleigh SchcM)I will make lump sum
contributions of £7,450 per Calendar month to fund the past service deficit.
The School has provided £119k lo cover the potential cost of meeting the possible commitment lo pay
additional guaranteed minimum pension IGMPI equalisation costs following the October 2018 ruling by the
High Court in Ihe Lloyds Bank case
The fair valu8 of the scheme asset5 exceeded the present value of future obligations at the 31 July 2021 by
£233k. However, as the School will not recover this surplus through reduced contributions OT refund, the
asset has not been recognised in these financial statement5 in ac¢ordan¢e with FRS102.
35

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
20. PENSION SCHEMES {continuedl
2021
£'ooo
2020
£'ooo
(al The amounts recognlsed In the balance sheet are as follows .
Present value of funded obligations
Fair value of plan assets
126,8611
27.094
127,1361
24,926
less asset not recognised
12331
Defi¢it amount shown In the balance sheet
(2,210}
2021
£'ooo
2020
£'ooo
Ibl Changes in the present value of the defined benefit obligation
Opening defined benefit obligation
Service c05t
nleresl cost
Actuarial lossllgainl
Benefits paid
27,136
558
389
15811
{6411
23,948
568
483
2,910
773
Defined beneflt obllgation at year end
26,861
27,136
2021
£'ooo
2020
£'ooo
Icl Changes in the fair value of the Scheme assets
Opening fair value of the s¢heme assets
Interest on assetslExpected retum
Actuarial gainllloss}
Employer's contributions
Employees, contributions
Benefits paid
24,926
361
1.900
439
109
641
23,423
478
1,194
482
122
773
Closing defined benefit obligation
27,094
24,926
2021
£'ooo
2020
£'ooo
Id} Amounts Included within the Statement of Flnanclal Actlvities
Current service cost
Past service cost IGMP equalisationl
Expected return on scheme assets
Interest on pension liabilities
233
12.210}
361
389
478
483
Total amount charged to the Statement of Flnanclal Actlvltles
205
2,2151
Net Actuarial gainslllosses)
2,481
1.716
s asset not reco9nised
233
Net Actuarial gainslllosses} recognised in the year
2,248
11,7161
Net Cumulative actuarial gainslllossesl
The School expects to contribute £422k to the scheme in 2021122
36

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
20. PENSION SCHEMES Icontinuedl
2021
£'ooo
2020
£'ooo
lel Reconciliation of movements in Present Value of Plan .
Liabilities and Assets
Net liability al the beginning of the year
Movements in the year".
Employer's ¢urrenl service cost
Employer's past Servi￿ cost
Employerfs contribution
Net interest on the Defined Benefit AsseVLiabilily
Actuarial gains less scheme asset not recoJnised
{4491
14461
439
28
18
482
1,716
Net liability at end of the year
1.6751
The categories of scheme assets as a percentage of total assets
2021
2020
Equities
Bonds
Annuities
Cash
47
52
Igl Principal assumptlons at the balance sheet date (expressed in percentages as weighted averages)
Discount rate
Expected return on plan assets
Rale of increase in salaries
Rate of increase in pensions in payment
Rale of increase in pensions in defemienl
RPI
cpi
1.70
1.70
3.25
3.65
2.35
3.25
2.35
1.45
1.45
2.90
3.50
2.25
2.90
2.00
Assumes lif& expectations in years on reliremenls age 65
Retiring today- males
Retiring today- females
Retiring in 20 years- males
Retiring in 20 years- females
22.4
24.3
23.7
25.5
23.4
25.3
Ihl The amounts for the current and previous periods are .
2021
£'ooo
2020
£'ooo
2019
£'ooo
2018
£'ooo
2017
£'ooo
Defined benefit obligation
Scheme assets
Deficit
Experience adjuslmenls on liabilities
Experience adjustments on assets
126,8611 127.136} {23,9481 {20,9201 {21,942)
27,094
24,926
23.423
21,082
19,996
12,210)
1525}
11,9461
491
{1,1911 (2,6751
1253}
1.194
1,869
597
1,176
4,381
1,900
Defined contribution scheme
The Cranleigh School Group Personal Pension Plan started in January 2013. This is a money purchase group
personal pension scheme managed by Avwa. Basic contributions are 4Vo for the omployee and 80A for the
employer. The employer's contributions are charged in the Slalemenl of Financial Activitie5 in the period in which
the salaries lo which they relate are due. The employer's Contributions in the year amounted lo £250,98312020'
£227.549). Al 31 July 2021 £0 was accrued in respect of pension conlributh)ns to this schem812020 ". £0}.
37

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
21. FINANCIAL INSTRUMENTS
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic
financial instruments are initially recognised at transaction value and subsequently measured al amortised Cost
using the effective interest method. Financial assets held al amortised cost compii5e cash and bank and in
hand, together with trade and other debtors. Financial liabilities held al amortised ¢osl comprfse bank loans and
overdrafts, trade and other creditors.
At the balance sheet dale the charity held financial assets at amortised cost of £9,748k 12020.. £1,716k).
Financial assets at fair value through income or expenditure of £Ok 12020.. £Okl and Financial liabilities at
amortised cost of £26,134k12020'. £26, 130kl
22. RELATED PARTY TRANSACTIONS
The Headmaster of Cranleigh School is also the Trustee of 1170. This charity has used the facilities of
Cianleigh School for fundraising meetings. There was no charge for these services and there were no amounts
owed to the Sehool al 31 July 2021 12020.. Nil)
The School rents a residential property from the Chairman of Governors Imr A J Lajlhal for the housing of
School staff. The school pays rent of £1.700 per month under an Assured Shorthold Tenancy ag￿ement. There
were no amounts outstanding or owed lo the School al 31 July 2021 12020.. Nil)
There have been no other related party transactions that requiro dis¢losure other than transactions with other
group entities, a5 set out below..
In 2021 the Charity charged Cranleigh Enterprises Limited minibv$ njnning costs totalling £25,560 12020=
£25.080). This is calculated as a fee per temi based tsn fuel and maintenance costs
In 2021 Cranleigh Enterprises Limited charged the Charity minibus usage costs totalling £40.380 (2020..
£39.6001. This is calculated as a fee per term based on the reasonable wear and lear of the vehicles.
In 2021 Cr8nleigh Enterprises Limited charged the CharSty stationery and book costs totalling £47,388 12020=
£54,995). This is based on the recommended retail price.
23. CAPITAL COMMITMENTS
As at 31 July 2023 the Group had no capitsl ¢ommitment5 for the construction works on the capital developrnent
programme.
24. OPERATING LEASES
As al 31 July 2021 the Group had the following non-cancellable operating leases, payable as follows..
2021
£'ooo
2020
£'ooo
Within 2 to 5 years
Within 1 year
19
35
54
40
112
152
38

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED}
FOR THE YEAR ENDED 31 JULY 2021
2S. CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES - COMPARATIVE FIGURES
Unrestricted
Funds
2020
£'ooo
Restricted
Funds
2020
£'ooo
Total
Funds
2020
£'ooo
INCOME FROM:
Charltable activities
School fees
Other income
Other trading activitles
Facilities and tra¢Ying income
Other incoming resources
Share of surplus from Joint V8nlur8
Investments
Investment income
Bank and other interest
Voluntary sources
Donations and legacies
Fundraising events
Total incoming resources
24.759
1,014
24,759
1.014
751
895
164
751
895
61
28
383
19
429
411
19
28.101
27,672
EXPENDITURE ON:
Raising funds
Trading costs
Share of loss from Joint Venture
other income-generaling activities
Financing costs
Investment management
Fundraising & development
Total deductible costs
412
412
948
25
25
1,385
1.390
Charitable activltles
Education and grant making
25,719
88
25.807
Total expenditurg
27,104
93
27,197
NET INCOMING FUNDS FROM OPERATIONS
BEFORE TRANSFERS AND INVESTMENT GAINS
568
336
904
Gainsl{lossesl on investrnents
Transfers
(1261
{1191
NET INCOME AND CAPITAL {INFLOW)
Pension scheme actuarial gainl{lossl
442
1,716
343
785
1,716
NET MOVEMEMf IN FUNDS FOR THE YEAR
FUNDS BIFWD 1 AUGUST 2Q19
11,2741
38.123
343
1.125
1931}
39,248
FUNDS CIFWD 31 JULY 2020
36.849
1,468
38.317
39

CRANLEIGH SCHOOL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2021
26. ALLOCATION OF NET ASSETS TO FUNDS
Fund balances at 31 July 2021..
Unrestricted
Funds
£'ooo
Restricted
Funds
£'ooo
Total
Funds
£'ooo
Fixed assets
Current assets
Current liabilities
Long term liabilities
Pension scheme assets
65,079
9,864
18,4801
117,6541
65,079
9,951
{8,4801
117,6541
87
Total net assets
48,809
87
48,896
27. COMPAIiATIVE ALLOCATION OF NET ASSETS TO FUNDS
Fund balances at 31 July 2020
Unrestricted
Funds
£'ooo
Reslricled
Funds
£'OfK)
Totsl
Funds
£'ooo
Fixed assets
Current assets
CU￿nt liabilities
Long term liabilities
Pension scheme liabilities
64.709
1.881
18,0661
{18,0641
12,2101
64.709
1,948
18,0661
118,0641
{2,210)
87
Total net assots
38,230
87
38,317
40