Company Reglstratlon No.. 3596520 ST. CATHERINE'S SCHOOL, BRAMLEY (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 AUGUST 2021 ST. CATHERINE'S SCHOOL, BRAMLEY ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Indox Pa Governors. Officers and Advisors Gov8mors' Report - SlruciuT8, ￿rn5 and GovernanGe - Strategic Report - Statement of Governors, Reswnsibilities Independent Auditorfs Report 14 1&17 Statement of Flnancial Activtties 18 Balance Sheet 19 Statement of Cash Flows 20-21 Notes lo the A¢¢ounts 22-37 ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 AUGUST 2021 GOVERNORS The Governors of St. Catherine's School, and those who setrved during the year, and to the date of the swirg of thls rewrt, except where olhemse stated, are.. 1&2 Mr Peter J Martin (Chalmian) (retired 8th July 20211 2&4 Mr Abert D R Alonzo 2. 3 & 4 Mr Mlchael F Bustard Irelired 31•t August 2021) 3&4 Mrs Penelop& J H Crouch Mr8 Susannah C Fitzsimons lioined 26th June 2021 } MTS Harriet J K Hounsell (pined 1 September 2021) Dr MKhad J Jordan (rellT8d 13th March 2021) Mr Andrew J Pianca Mr Jonath8n C M Tippett 2&5 Dr Janet F M¢Gcwan {Vke Chairman) Mr John A P Blauth Prof Finbaff E Colter Mrs Karen B M Farréll Mrs Caroline R Good 1&5 Mrs Clare S Johnslone Mr Matthew P Lowe (Chaimianl (appointe(19th July 2021) Mrs Susan E Shipy•vay Mr Den68 B Ulyet 1.3&5 283 2&4 Notes 1. Academ￿ Commlttee 2. Development Committee 3. Estate and Buildings Commhtee 4. Finance Committee 5. Pastoral a Well-being Commlttee During thg year the actNities of the Governing Body were carried out through five princlpal committees. The membership of these ¢ommrtie85 as al 31 August 2021 Is sP#Jwn above for each Govemor. The Safeguarding Govemors during the year s￿ Mrs Clare S John$lone and Dr Janet F McGovrdn C￿￿entlY dewtising,. the Ewly Years Foundation Stage {EYFS) Govemor Is Mr John A P Bl8ulh. Mrs Caroline R G(x)d is Governor representatrve on the School ICT Development Committee and Mrs Penelop8 J H Crouch arKI Mr John A P Blauth ar8 Govemor representatives on the Bursary and Hardship Awards Committ89 with Mrs Crouch belng Chair. Mrs Susan E Shipway is Govern￿ representatNe on the H￿1th & Safety Committee. OFFICERS Headmistress Prep School Headmistrgss sec￿lary to the Goveming Body Mr8 Alce M Phllllps Mi88 Naoml J Barth¢lomew Mrs Diane E Ha8ff6le ADDRESS St. Catherfnè's School SlaUon Road Br8mley Guildford Surrey GU5 ODF ADVISORS Bankers Lloyds Bank plc 147 High Street Guildford Surrey. GU13AG Soticltor8 Farrer & Co LLP 66 Lincoln's Inn Fiekls London, WC2A 3LH Auditor Crowe U.K. LLP 55 Ludgale Hill London, EC4M 7JW Insurar Brok8r8 Marsh Insurance Brokers Limited Capltal House 1-5 PeTrymounl Road Haywards Heath West Su88ex. RH16 3SY ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 The Govemors of St. Catherine's *hool, 8ramley Pfe5ent their annual Govemor5' Report for the y8ar gThJed 31 August 2021, including the Directors, Reporl and Strategic Report. I￿jether with the audtted financial statements for the year. The Governors, Report and the accounts have been prepared in ac£ordance with the Financial Reporting Standard applic2ble in the UK and Republic of Ir8land (FRS102), the Companies Act 2006 and the Statement of Recommended Practice 8pplicable to charf(ies preparing their a¢￿Unts in accordance with FRS 102. The GoverTh)rs recognise the considerable stress that the pandemlc has brought to all staff but in particular, the Combined Senior Management Team led admirably by Mrs Alice Phllllps. Great efforts have been made by the whole School ¢ommunrty. Our thanks go lo all stsff. wpils and parents for all they have done In ex¢eptlonal circumstsnces. The on-llne learnlng programme has meant that all pupils have conllnued to re¢elve excellent educatlon and pastoral care. STRUCTURE, AIMS AND GOVERNANCE REFERENCE AND ADMIN18TRATIVE INFORMATION The SchcL)I wa$ fourKt8d in 1885 and is registered with the Charity Commission under charity number 1070858 and a company limited by guarantee and inCor￿ated under company number 3596520. The Governors, executiv8 officers and advisors are listed on page 1. OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES Charltable Objects The objects for which Sthool Is estsbllshed are to promote and provlde for Ihe advancement of educatknn by provldlng. conducting. governing. c8ryiro on and maintaining in the United Kingdom or elsewhere. a boarding or day school or schools for gir18 in which the teaching shall be In accor(18Dce with the principle8 of the Church of England. Publ1¢ B&n•fit, Aims •nd Intended Impact In meeting these objects, St. Catheflne's public l*nefit aim is to inspire puplls to make the most of their 8bilili8s by providing a happy and secure er¢vironment where academic excellence Is comblned wlth the wlder development of the individual's personalty. The Sthool alr￿% to develop pupils, sknlls of leadership. responslbilty and rellablllty, while encouraging respe¢l and ￿nCern for others in the wlder community and a desire to rnntribuie personally and through St. Catherine's School in corporate acliviti8S. A girl leaving SL Catherine's should be a confident, independent thinker and leamer, SttU￿ in her own beliefs, able to make sound moral judgments and Implement Ihern wmpa$sion. She should be ready to 5elze opportunitles to explow the world, make decisions and take risks, confid8nt lo &mbark on the unknown. equipped to rise to any challenges lrfe may present. and with the resilience and strength of character lo overcome adversty. Governors confirm that they have complled wtth their duty under Secllon 17 of the Charities Act 2011 to have due regard to the Charity Commission's publk%hed general guidance on public benefft. The Governors agreed to provide funds to the value of 2712020.231100% bursarie5 including extras for cases of grealesl need to fund at least one puprf at ¢a¢h of 11+ and 7+ (for theirsgnior 8nd the Prep. SchoollKey Stage 2 years reype¢tively). In recent years. a greater focus h8s been placed on 11+ bursary places, supportin9 the SULxessful applicants throughout all 7 years of thèir $6nior schoollng assuming thelr satisfactory perfomiance. Bursaries are available for both day and b08rding fees as boarding can be partlajlady hdpful for glrl$ need of educational or famlly stsbility. The Governors also conllnue lo wnsider ca8e8 of hardship for currenl PLtplls lo enable thèm. wherever posslble. to finish the key Stage of education that they are in al the tlrne of the famlly experiencin9 hardshlp. All bursarie8 are means tested and, almost invarlably* Indude a home vi8it to ascertain real need. In dedding on the allocation, the Bursary & Hard8hlp Award8 Committee contlnu6s lo focus on suitable lo¢al ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The Schts)I provided £1,273k12020: £1.088k) of assistance in bursaries, $cholarship5 and other award$ to a total of 1 $012020- 131) pupils. The School Conllnues to develop ils existing links with stale s¢hoot5 in the immediate locallty, particularly doser working partnerships with Bramley Infant School and Go$den House la speThal n88ds school almost adjaGenl lo our site). Overseas, there ar9 historic links with the Magnet Orphanage and School. Nairobi. Communlty Llnks All links have been heavity curtalled this year due to COVID-19 restri¢tion5 which is a great regret. On all restrictions are Irfted, we will agaln offer the u¥e of our Auditorium and boarding facilities to external causes. The School provkled its venue and staff free of charge on many cttastons until the outbreak of COVI 19 and three lockdowns. If COVID-19 limitations had not been in force, we would have conunueé lo enable local schools to teach swimming in our pool on a weekly basis in temi lime without charge. Swimming coachlng would also have been provided free of charge. We would have contlnued lo encourage extemal students lo use the musicfacilities to facilttale universty courses. Ordinarilywe would have provided the followlng activities and l(M)k forward lo being a￿e to resume this outreach work agaln.. Cricket and Rounders coachlng, Swimming Pool use and music clubs all al local Primary and Senior Schools. Latin teaching conllnued at a local SGhool, albeit under very challeNJing ¢onditions and via Mic¥osoft Teams. We fvlly Intend to reintroduce education￿ seminars and careers events for surrounding Schools once allowed. The School'$ Senior Chamber Choir was able to sing In person at the High Sh8riffs Judiciary Servlce at Guildford Cathedr81 In July 2021, by Invita￿0￿ of the High Sherrff. We continLreé to teach a Microsoft Offic* Specialist course fr88 of charge and f(xJr local residents completed either their first or second modules. In the Summer Term as restrlctions eased, the school provlded cantors to Holy Trinity Church Bramley to support worship. We have also supported the Church whh pupils helping al church events again In the Sumrner Tgrm and ￿aff assisting with parking and grounds work when requested, and through maklng donations. The culture of helping others continued where posslble, with staff helping pupils to support haritsble ventures often promoted by the pupils themselves through their cor￿emS and interests. Many drfferent charities were therefore promoted and at every opportunty, the pupils were en￿uraged to learn aboLrt the charity them$elves. St. Catherine's School Coknoperales wth local and natlonal charities lo share cultural and sportlng facilities and to widen publk a¢¢e55 to the schooling provided so as lo optimise the educational use of its facilities and. Ir¢ the publlc InleTr$l. to improve the awareness of Ils pupils of the social context of the all-round education they recelve. The School also beneffls from the ne￿rk of former pupils and cu￿ent and former parents through the SL Catherine's Association, whose support Is gratefvlly acknowledged. STRUCTURE, GOVERNANCE AND MANAGEMENT Govomlng Do¢umont The Chanty is govemed by its Memrxandum and Articles of Associalion dated 10 July 1998. Governlng Body The School Ls governed by Its Governing Body. d8laS18 of whlch a￿ Ilsted on p8ge 1. It is 8 self-appointing Body, one third of whose members retire each year. bul are eligible for rwlection, subject to mandatory retirement at the AGM following their 74th birthday. Govemors who reach the age of 74 mid-year wlll sometimes be roquesled lo complete the acaderniG year for contSnulty. The Governors are selected based on eligibility, personal competence. specialist skills and affinity to the School. New Governors are inducted into the working of the School. including Board WOTkings and procedures through mentoring by ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 exlslng Governors and an iThYu¢tlon programme organised by the Headmlstres$es and Senlor Management Teams members, uthfioh Includes th(ffo￿h Safeguardlng checks and tralnlng. Regular ¢ontxt whh the d8y4rAay wnnlng of the School Is malntslned through hall-yearty Govemors, Days where Govemors are invited to visit lessons, aGtivities and attend training sessKJns on the Independent Schools Standards Regulations (ISSRS), as well as attend events such as concerts. dram8 productions 8nd speci81 celebratory éays etc. The Govemors are aware ofthe Charity Govemance Code publk8hed in 2017 and updated in 2021 which sets out the princi￿eS and recommended practice for good govemanc8 within the sector. The Govemors are satisfied that the Charity applies the principles ol the Code within its current Govemance arrangements. Organl8atlonal Manag&mont Th8 St. Catherine's School Governors, as Tnjstees of the Charity and Directors of the ConT)any, are legally responsible forthe overall management and control of St. Catherine's School and meet three Ilmes a year. The work of implementing their pollcies is cathed out by members of the varEous Committees noted on page 1, tho meet Iwo or three Ilmes a year In the weeks lea(Ilry up lo the meetings of the The prlnclpal Gov8mors' Committees are as follows.. - Acad8mlc Development Estate and Bulldir¥Js Finance Pastoral and Well-being The daY-t￿daY runnirvJ of the School Is delegated to Ihe Headmlslress is supported by the Headmistress of the Preparatory School (Prep. School). the Ch￿f Operaling Officer, and the S8niar Management Teams in both Schools who make up the key management personnel. Th8 tsvo Headmistresses and relevant members of the Combined Senior Management Team attend the Govemors, Board meetings and also the Committees relevant to their areas of ￿sponSibl11ty. The Chairman holds a monthly meeting in term lime wilh the Headmistresses and the Chief Oporaling Officer. Mrs Clare S Johnstone Mr Albert D R Alonzo Mr Denls B Ulyet Mr Jonathan C M Tippett Dr Janet F McGowan Remuneration Is consldered by the Governlng Body wtth Ihe oblectlve of provldlng appropriate Incenllves lo encourage perfomiance and rewarding all staff contributions to the School's success. Nearly all staff are appointed to a dear salary scale. whlch Is updated and publlshed annually after the Goveming Body 8gre8 any annual uplrft. The Charity has a wholty owned subsidiary, SL Cathenne's Enterprfses Limited, and this is used for the tradlng of the School Shop, Annfversary Halls Bar. Forum Café and Sports Club. The Schcol Shop sells the new Sch￿1 un￿orni and relat￿1 equlpment. Any surpluses are Glft Aided for the benefit of the School. ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 STRATEGIC REPORT Obleetlvts for th• Yèar This yearthe School has continued to maintain Ils academic performance and a hlgh standard of pastoral care vthich arg annual objectlves of the Govemlng Body. However, a major new obleetwe was once again forced upon the School by the ongoing COVID-19 pandernic: the need to keep the sch(x)I running successfully. financlaliy, and offerirKJ a sound eduGation and pastoral caie for all. desplte the onset of lockdown In the SpriThJ Term 2021. The Aubjmn Term was conducted on sile, the Spring Term - apart from 3 weeks in March - wa$ corvjucted entirdy online in the Prep and Senior SGhcrfJls with a smaller scare Crilit21 Worker Children's provi$KJn in both Scho￿$. Additional measures were put in pLqce on ag8in to monltor the wellbeing of all students studying al home and all staff worklng in school or remotely during the hxkdown wiod. In the Summ9r Term school resumed for all on stte. The school has provided financk91 support to some families in need because of the unexpecled impact of COVID-19. This has tsken the forni of payment plans and grants fmm the Hardship Fund. The ￿denIng of access, 8 regular objective, has been maintained through bursary provision and thg School always looks for new ways to encourage thal sch¢d Ghildren to use the fa¢llities for 8duc8tional purposes, as outllned above. Readlness for routlne inspection by the relevant aulhorities Is an annual objeGtive but the Independent Schools InspeLtorale {ISI) susperKled inspgclions due to ￿h0o1 dosures. By way of remind8r. in October 2019 the ISI undertook a Compliance Inspection of the Sthool and St Catherine's was found to be compliant wlth the lThJependenl Schools Standwds Regulatlon5 in all areas. The Govemors, ten-y8ar development visK)n for the School - Create Ihe Future - launched on Speech Day, July 2017. continues as a focus for the ¢ommunty. Alongslde the comp4etion of The 6. some prelimlnary works for the extension to the existing Creative Arts building, 'The Art & Makerspace", commenced In the Summer Temi 2021. However, a ngw STEM and Library space, "The CATatysf is on hold because of the current situation. The School confimied that, regardless of its ongoing ambIt￿uS developmonl plan5, the focus for expenditure should ￿)ntInue to be on keeping the fee increases as low as possible for future years. whllsl maintaining the Governors, top strategic priorities, whi¢h relate to the education provlded by the School, recruilment and retenllon of first-rale teachers and prudent financial management. Fee Increases for 2020 were once again held al less than the national average and were held until March 2021 as a supportive gesture to parents durlng the paf¥Jemic. Fee reductions were applied lo all in the Virtual Sprlng Temi. Prfnclpal Acllvltles of th• Y••r The s¢￿01 provkles day and bo8rdlng edueatlon fr opinion We conducted our audit in acctirdan¢e wilh International Standards on Audits'ng {UKI (ISAS {UK)l and applicable law. Our responsibilities under those stsndards are further de￿ribed in the Auditorfs respor)sibillties for the audit of th8 financial statements section of our report. We a￿ independent of the charltsble company in accordance wth the elhi¢al requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethiol Stsndard. and we have fu￿11￿ our other ethical respon5ibililies in accordance with these requI￿rnents. We believe that the audit evKlence we have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢lusion8 relating lo golng concarn In audlllng the flnancial statements, we have concluded that the trustee's use of the going wncem basis of accountlng In the preparabon of the financi81 Statem￿1$ 1$ appropriate. Based on the workwe have performed, we have not iéentifjed any material uncertainties relating io events or conditions that, indivldually or ¢olle¢tNely, maycast signfficanl doubl on the charitable company's ability to continue as a going concern for a period of at least twelve months frorn when the financial statements are authorised for issue. Our responslbllilies and the reswnsibilities of the trustees with respect lo going ¢onGern are descrlbed In the relevant se¢tlons of this report. Othèr IAforrnation The trustees are responsible for the other information contained wlthln the annual report. The other information compriseg the infomialw)n included in t1￿ annual report, other than the flnanual statements and our aUdit0￿S report thereon. Our opinion on the finan¢ial statements does not cover the other information and. except to the extent otherwise explicily stated in ¢Jur report. we do not expres5 any fomi of assurance concluslon Ihereon. Our responsibility is to read the other infom)ation and, in doing so. ¢on8ider whether the other Snfomallon Is materialty inconsislentwilh the financial statements or our knowledge obtsined in the audit or olhemsa appears to be materially misstated. ff we idenlfy such material inconslstencles or apparent materkql misstatements. we are required to delemiine whelher thi5 gives rise lo a msterfal misstatement in the rinancial slalements themselves. If, based on the work we have performed. we conciude that there is a material misstslement of this other irrformatlon. we are required to report that fact. We have nothlng to reixrt In this regard. 15 INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF ST. CATHERINE'S SCHOOL, BRAMLEY Oplnlons on other matters prescrib•d by th• Compani•s A¢t 2006 In our opinion based on the work un¢Jgrtaken in the wurse of our audri the infomiation glven In the trustees, re￿rt, which indud8s the directors, re[￿rt and the strategic report prepared for the purposes of compary law, for the financlal year for whS¢h the financial statements ar8 prepared is consistgnl with the financial statements,. and the strategic report and the directors, report induded within the trustees, ￿Port have been prepa in ac(￿rdanCe ￿th applicable legal requirements. Matters on whl¢h w¢ we requlr¢d to report by exceptlon In Ilght of the knowledge and understanding of the charitabl8 company and Ihelr envlronmenl obtslned In the course of the audit, we have not identrfied malerk21 mi5Stalements in the 8trateglc report or the directors. report included within the trustees, repo We have Th)thlng to ￿p￿t In re3￿t ofthe fdlowlng matters In reLqtknn lo Nthlch the Companies Act 2006 requlres us lo report to you ￿, In our oplnion.. adequate and proper accounting records have not been kept" or the flnandal statements are not in agreement wlth the accountSThJ records arvj return5', or certain disclosures of trustees. remunerauon spedffed by law are not made" or we have not received all the Inforniatlon and explanatlons we requlre for our audit. Regponslbllltles of trustees explained moro fulty in thé trustees, responsibilities statement set out on page 14. the trustees (who are also Ihg directors of the charitable company for the purposes of company law) are responsible for the prgparation of the financial staiemenls 2nd for being satisfied that they give a true and fair view, and for such inlemal control as the trustees determine Is nec*ssary lo enable the preparation of financlal statements that are tree from materi81 mlsstatement, whelher due to fraud or error. In preparing the financial statsments, the trustees are r¢spJnsible for assessing the chariiable company's ability lo continue as a going concgrn, disdosing, as applicable, mattets related lo going concern and using the going concem basis of accounting unless the trustees either intend to IKiuidate the charitsble company or lo cease operatiorts, or have no realistic altematNe but lo do so. Auditoffs responsibilities for the audit of tho financial statfjrnents Our objedives are to obtain reasonable assurance about whetherthe financial stst8m8nls as a whole arg free from material misstatement. whether due to fraud or error, and to ISSU8 an audrtorfs report that indudes our opinion. Reasonable assurance is a high level of assurance. bLrt is not a guarantee that an audit conducted in accordance wilh ISAS {UK) will always delect a material misslalement when it exists. Misstatements can arisefrom fraud or error and are considered material rf, individualty or in the aggregate. they could reasonably be expected to inffluence the economic decisions of users taken on the basis of these financlal ststements. Detalls of the extent to whlch the audit was consldered capable of detecting irregularities, including fraud and n(￿<0mplIance wlth laws and regulatlons are set cMJt below. A further description of ¢Jur responsibilities for the audit of the financial statements Is located on the Financial ReF(Srting Council's webslte at.. WbVW.frc.or .uklauditorsres nsiblltiies. Thls de8CriPtlon fomis part of OUT audilorfs reFort. Extent to vthlch the audit was ¢onsidor•d ¢apablo of det•ctlng Irregularllles. Includlng fraud 1r￿guE2r1tIe$. includlng fraud. are instances of non-compliance wih taws and regulations. We identified INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. CATHERINE'S SCHOOL, BRAMLEY 8nd assessed the risks of material mlsstslement of the financial statements from irregularities, whether ue to fraud or error. and discussgd these between our audit team member8. We then designed and performed audit procedur95 responsive lo those risks. induding obtalnlng aud￿ evidence sufficient and appropriale to provide a basis for our oplnion. We obtained an undorstandlng of the legal and regulatory frameworks within which the charitable company operates. focuslng on those laws and regulations Ih8t have a direct effect on the determination of material amounts and dlsciosures in Ihe finanGial statements. The laws and regulations we considered in this ¢onlexl were the Companles Act 2CWJ6, taxation legislation. together wrth the charit￿ SORP {FRS 102). We assessed the requlred compliance with these laws and regulations as part of our audit procedures on the related financlal statement items. In addition, we consldered provisp)ns of other laws and regulations that do not have a dlreet effect on the finan¢ial Statements bul Complian￿ wth which might be fvndamental to the charitsble company's ability to operate or to avoKI a material ￿nalty. We also consldwed the opportunities and Incenlwes that may exist within the charitable company for fiaud. The laws and regulations we considered In thls context for the UK OK)erations were The Education (Ind8pendent School Stsndards) Regulations 2014, General Data Prote¢lion Regulation {GDPRI and Employment Legislation. Audiling standard$ limit the requlred audlt proce(lures lo identtfy n0￿cOmPliSn¢e with these laws and regulatio￿ to enquiry of the Trustees and other management and inspection of regulatory and legal CO￿@SpondenCe, rf any. We identrfied the greatest risk of material impact on the financial statements from irregularities, including fraud. lo be within the tlmlng of recognition of voluntsry and other Income and the override of controls by management. Our audit procedures to respond lo these rtsks included enquiries of management and the Finance Committee about their own i¢Jgnlrficalion and assessment of the risks of irregularities, sample lestlng on the posting of joumals. reviewing accounting estimates for blases, reviewing regulatory correspondence with the Ch*ity Commission, IrKl8pendent Schools Inspectorate, Ofsted and reading minutes of meelings of those charged with governance. Owing lo the inherent limrtations of an audit, there is an unaVoida￿e risk that we may not have detected some material misstatèments in the financial statements. even though we have properly planned and performed our audit in acwrdance with auditing standards. For example, the further removed non- compliance wlh laws and rggulations lirregularllies> is from the events and transactions refiected In the nancial Statements, the less likety the inherently limited pr¢)cedures required by auditing standards would idenllfy it. In addition, as with any audit, there remained a higher risk of norpdetection of irregularilies. as these may Involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal controls. We are not resFrf)nsible for preventing non-compliance and cannot be expected to detect non- compliance whh all laws and regulations. Use of our rnport ThLS report is made solety to the charitable Gompany's m8mbers. as a Body, in 8cctsrdan¢* with Chapter 3 of Part 16 of the Companies Act 2006. (￿r audit work has been undertaken so that we mKJht stale lo the charitable company's members those matters we are Tequired to state to them in an auditoffs report and for no other purpose. To the fullest extenl pemitted by law. we do not a¢cepl or assuma responsibiltty to anyone other than the charitable company and the tharitable company's members as a Body. for our udll work, for this report, or for the opinions we have formed. Tlna Allison Senlor Ststutory Auditor For and on behalf of Crowe U.K. LLP Statutory Audrtor London Date 17 December 2021 17 ST. CATHERINE'S SCHOOL. BRAMLEY STATEMENT OF FINANCIAL ACTMTIES (INCLUDING SUMMARY INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021 Unrestricted Restricted Endowment Funds Funds Funds £'ooo£ £'ooo £'ooo Total 2021 rooo 2020 £'ooo Notes INCOME AND ENDOWMENTS FROM Charltsble actlvhles School fees Other educational Income 15.615 1&615 14.854 Interest rec•lvablo Donatlons & legacles 17 20T ¢Xher trading in¢omo Grft Aid from subsidbary Cxher In￿Me/Re￿I81$ Furlough grant inGomo 17 17 240 Tothl Income 16,364 205 1Q569 16.352 EXPENDITURE ON RAISING FUNDS Finance costs under Advance Fe8s Contracts Bank Interest and charges Development costs 75 158 129 75 158 129 87 63 243 362 362 393 Charltable activiti Education 15,122 100 15,352 16.048 Exceptional items 139 Total exwndituro 15,484 130 100 15,714 16,580 Nrf In¢om•llexpondlture) 75 (100) (228) Tran$f•rs b￿n funds 16 374 1374) Not mov•m•nt in fund• 1,254 (299) 1100> 855 (228) Rgserv•s brought foThrnrd 24.114 1.330 7,341 32,n5 33,013 R•sorvo8 carrled forward 25,368 1.031 7.241 33,640 32.785 All of the School's operations represent continuing activities. Thern were no recognlsed gains or losses other than those Shown above. A ¢opy of the Statement of Financial Activities for the year ended 31 August 2020 is rrovided in note 22. The notes on pages 22 to 37 form part of these accounts. 18 ST. CATHERINE'S SCHOOL, BRAMLEY BALANCE SHEET AS AT 31 AUGUST 2021 Note8 2021 £'ooo 2020 rooo FIXED ASSErs Tangibl8 assets Investment in subsidiary company 41,699 39,323 41.699 39,323 CURRENT ASSETS Debtors Cash at bank and in hand 11 637 3.564 467 6,591 4,201 7,058 CREDITORS: Amounts falling due wlthln one ye8r 12 {5,659) (6,238) NEf CURRENT ILIABILrriESy ASSETS 11,458) 820 TOTAL ASSETS LESS CURRENT LIABILrriES 40,241 40.143 CREDrfoRS: Amount8 falllng due after more than one year 13 (6.601) (7,358) NET ASSETS 15 33,640 32,785 FUNDS OF THE CHARITY: UNRESTRICTED FUNDS: General Annual 16 25,364 24,110 RESTRICTED FUNDS: Scholarships, prize funds and donations 16 1,031 1,330 ENDOWMENT FUNDS Permanent ExperKlable 16 7,053 188 7, 153 188 TOTAL FUNDS 33,640 32,785 Th8 note5 on pages 22 to 37 fonn part of th8se accounts. Approved on behaw of the Goveming Body and ulhori5ed for issue on 41h December 2021 MPLowe Chaimian of the Goveming Body J C M Tlppett Chalmian of the FInar￿ Commlttee 19 ST. CATHERINE'S SCHOOL, BRAMLEY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021 2021 2020 £'ooo £'ooo Cash fl•)ws from op•ratlng actlvlti {Nole a) 1,350 2,294 Cash fl¢)w8 from inv•sting activiti•s investmgnts and servicing of finance Bank interest receipts Finance Gosts and bank tharges Payments to acquire tar¥Jible fixed assets Proceeds from sale oftangible fixed a88ets 1233) (4,026) (150) (5, 183) 348 (3,393) (4,935) Net cash (oufflow) bofor• flnancing acllvltles (2,043) (2,641) Cash flows from flnanclng acti￿tIo8 Fees In Advance scheme.. Recelpts from new contracls Amounts accrued to contracts Amounts utilised lo pay fees Bank loan. repayable by 2035 1,881 75 12,607) (3331 2,338 87 (2,974) 5,947 1984) 5,398 (Decreaseylncrease In cash (Note b) (3,027) 2,757 Reconclllatlon of net cash flow to movement In not debt {DecreaseyinGrease in cash in the year Nel de¢rease in Fees In Advance Decreasel{increase) in loan finance (3,027) 651 333 2,757 548 (5,946) Movement In net debt N•t dobl at 1 SoPtomb¢r 2020 {2019) (2,043) (3,547) {2.641) (906) Not d•bt at 31 August 2021 (2020 (S.590> (3,547) The Th)tes on pages 22 to 37 form part of these acuunts. ST. CATHERINE'S SCHOOL. 8RANILEY STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 NOTES TO THE CASH FLOW STATEMENT Ro¢onclllatlon of not in¢om• to not cash inflow from operatlng a¢tivitio9 2021 £'ODO 2020 £'ooo Net incomel{expendlture) for Ihe year 853 (228) Bank and other interest received Finance costs and bank charges Depreciation Profil on disposal of f￿ed assets (In¢reaseyDecrease in debtors (DecreaseylnGrease in creditors (17) Z33 1,023 (223) 11701 13511 (50) 150 1,323 (183) 329 953 Net cash Inflow op•raling actlvltles 1.3SO 2,294 b) Analyslg of chang•B in n•t dobt Asal I Soptsrnb￿ Movement 2020 Asat 31 Augus1 2021 £'ooo Cash at bank and in hand 8,591 (3,027) 6,591 (3.027) 3,564 Fees in Advance scheme Bank loans (4, 192) (5.946) 651 333 (3,541) (4613) (3,547) (2,0431 {5,590) 21 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POLICIES Basis of accounting The financial s18temenls h8ve been prepared In accordance with the Financial Reportlng Standard applicable in th8 UK and Republic of IrelaThY {FRS102}, the Companies Act 2006 and the Stslement of Recommended Practl¢e appllcable to charities, the Charities SORP (FRS 1021. The fvnctional currency of the School 15 GBP bec8use that is the currency of the prlmwy economic envlronment in whith the School OFerates. The activitie5 Qfthe ¢harity's wholly owned subsidkqry Company. St. Catherine's Enterprises Limlted, are immaterial to those of the charity and cons(Aidated accounts have, therefore, not been prepared. The School is a Public Benefit Entity registered as a charity in England and Wales and a company limited by guarantee. It was irKorpt>ratgd on 10 July 1998 (company number.. 3596520). Golng Concem The preparation of accounts requirey an assessment of the approprlateness of adopting a g)ing concern assurnption since this assumes the availabllty of adequate financial resources lo allow the School to continue for the foreseeable future. Al the timg of approving these financial slatemenls, the COVID-19 pandemic conts'nues lo evolve and the long-temi impact on the School, in common wth many other businesses remains unknown. The G0Verr￿rS continually revk4v the position carefully prudently to ensure the long-term continuing operation of the School. the ongoing provision of schoollng for the pupils and the employment of our staff. The Govemor5 regularty recelve and revlew financial and other forecasts coverfng one, five and fifteen yeaT future periods. The future financing of all ¢apltal woi8cts is carefully considered before approval is given to proceed. Sensitivity scenarios ar8 prc*Juced to ensure that there are adequate bank borrowing facilities to kxovide a sufflclent safety nel should varlous potential adverse events occur. After reviewing the School's budgets, forecasts and pro1￿tiOnS and, recognising thal pupil numbers are perhaps the most important factor in the fin8ncid viability of a school. reviewlng the level of applications to join the school in the future. the Governors have a ￿aSonable expectation that il has adequate resources, including current cash re$erwes and banking facllities, lo continue in operational exi¥tence for the foreseeable future. The School therefore continues to adopt the goiro concem basis in preparing Its financlal statements. Critical a¢Gounting judgements and key sour¢os of •stlmatlon uncertalnty In the application of the accounting pOI￿leS, Govemors are required to make judgemert e5timalos, and assumptions about the ¢arying value of asset8 and liabiltties that are not readily apparent from other sources. The estlmates and underlying aSsuMpt￿S are based on historical experienc8 and other factors that are considered lo be rdevant. Actual results may drffer from these estlmates. The esb'males and underlying assumptions are revwed on an ongolng basis. Revisions to aceounllng estlmates are recognised in the period in vh)ich the eglimate is revised rf th8 revislon affeGts only that period. or in the perNJd of the revlslon and future periods if the rev151on affeGted current and future perh￿s. ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 In the vi8w ofthe Govemors, m assumptlons co￿emIng tl*future or estlmatlon uncertalnty affecting assets or Ilabilllles at the balance sheet date are Ilkely to result In a materlal adluslment to thelr ￿TryIng amounts In the next fir￿nCIal year. b) Flxed assgts Tangible flxed asset8 wllh costs of £5,000 or more are eapltsllged and. when brought into use. are depreclaled by equal annu81 instalments over their e8timaled useful lives. The Current estlmated useful Ilves are: Freehold buildings Interim boarding accOmm￿at￿ Equipment Computers Vehicles All we81her pitch85 50 years 2 years 5 years 3 years 4 years 7 years Land value, estimated at £6m. 18 not depr8cSated. The Governors revlewed the e8tlm8ted usefvl Ilfe of the School's freehold bulldings and. based on thls review, depreck91ion is being provlded lo wrlte off Ihelr book value over 50 years from 2002 C￿ the date of subsequent purchase. Fe88 and 81mllar earned Income Fees receivable and charges for services and use of the premises, less any allowances. scholarships and bursaries granted by the School against those fees, but includirrfJ contributions received from restricted funds, are accounted for in the period in which the servu is provided. Amounts receNed under the SGhool's Fees in AdvanGe scheme contracts are recorded as deferred incom& and tr￿lIte￿ to income vthen the fees are due. They are allocated as current liabilities where the education VAII be wovided wilhln 12 months from Ihe reF)Orting dale and as long-lerni Ilabllkigs where the educatlon ￿11 t provided thereafter. d) Donations.10gacio8. grants and other voluntary Incomlng resources Voluntary Sncomlng resources are accounted for as and when entitlement arr6es, the amount can be rellably quantrfied arKI the economic b8nefrt lo th8 School is considered probable. Voluntary incom8 for the Schcd's gènèral purposes is a¢¢ounted for as unrestricted and is credited to the Annual Fund. Where the donor or an apped has imposed trust law restrictions. voluntary income is credited lo the r81evanl reslricted fvnd and inGoming endowment5 are a¢¢ounted for as pemanent trust capital or expendable trust ¢apilal. aGcording to whether the donor intends relention is to be permanent or not. Gffts in kind are valued at estimated open market value at the dale of Grft, in the case of assets for retention or ¢onsumplK)n, or at the value lo the School for donated Serv￿88 or facilili8S. •) Expgndltur• Expenditure is accrued as soon as a liability is ¢onsidgrgd probable, discoun19d lo pr9sent value for longer-lerm liabilities. Expenditure attribuiable to more than one cost category in th8 SOFA is app)rtioned to them on the basis of the estimated amount attrtbulable to each actwty in the year, either by reference to staff time or the use made of the undertying assets, as appropriate. Irrecoverable VAT is induded with the item of expenditure lo which il relates. Op•rnting l•ases Rentals under operating leas6s are charged on a straight-line basis over the lease tem), even rf the payments are not made on such a basis. Benefrts recelved and receNable as an incentive to sign an operating lease are simllarty spread on a stralghl-llne basls over the lease term. g) Flnanclal Instruments 8aS￿ flnandal instruments are initially recognised at transaction value 8nd subsequenuy measured al 8morti8ed cost with the exception of investrnents which are held at fair value. 23 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 Financial assets held at amortised cost comprise cash al bank and in hand, together with accnjed income, trade and other debtors. A specrfic provision is made for debts for wh￿h r￿verabillty Is in doubt. Cash at bank and in haNI is defined as all cash held in instant access bank a￿ountS and used as working capital. Flnancral liabilities held al amrtised cost comwse bank loans. trade creditors. other creditors, accruals and entrance fees. Assets and liabilities held in foreign currency are translated to G8P al th8 balanc8 she8t date al an appropriate year end exchange rate. h) Pension costs The School contrlbutes to the Teachers, Pension D&fin8d B•n¢fits Scheme at rates set by the Scheme Actuary and advised lo the School by the Scheme AdministraloT. The Scheme 15 a multi*mployer pension ￿heme and il is not POS5ilAe to identrfy Ih05e assets and liabilities of the Scheme whiGh are attributable to the School. In acciKdance with FRS 102 Ihe Stheme is arxounled for as a defined CO)ntribut￿ scheme and Lx)nlributlons are a¢counted for in the period to bthich they Trlate. For non-teaching staff the Schcrf)I contributes lo indwidual personal penslon schemes at a maximum of 10Vo of annL￿1 pay. These ¢ontrlbutlorbS are aC￿nted for in the perlod lo which they relate. 24 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 FEES RECEIVABLE 2021 2020 £'ooo The fees recefvable comprlsed.. Grogs fees Less: Bursaries. scholarships and other awards 16,796 (1,273) 15.876 (1.088) 1 S,523 14,788 66 Adrj back.. Bursaries pAid for by Reslrided Funds 15,615 14.854 OTHER EDUCATIONAL INCOME 2021 2020 Academic costs reL*argeil lo pa￿nts Trips, activities and other ¢o$ts re¢harged to parents Registration fees Extra lu6tlon fees Other Income including facility 48 61 53 130 940 INTEREST RECEIVABLE 2021 £'ooo 2020 £000 Interest received from St. Catherine's Enterprises Llmf(g Interest on scholarship. prizg and donaled funds Bank interest r6relved 37 17 NEf INCOME The operating 8urplu8 IS gtated 8fter charglngl(credltlng): 2021 £'ooo 2020 £'ooo Auditorfs remuneration - audlt fees exd. VAT Audrtorfs remuneration - non-audit fees exd. VAT Depreciation Profil on disposal of r￿ed assets Leasing charges 25 1,023 1223) 1,323 (183) 25 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 EMPLOYEES 2021 £'ooo 2020 £'ooo Siaff cost8.. Wages and salaries Social security o)sts Pension costs 8,006 859 1,557 7,662 819 1.477 10,422 9,958 The number of employees whose emolum￿ exceeded £60,0(Kl was: 2021 No. 2020 No. £60,001- £70,000 £70,001- £80,000 £80,001- £W,000 £150,001-£160,000 £160.001-£170,￿0 10 Eleven12020: Eleven) employees are accruing benefits under 8 defined benefits penston scheme. Contributions of £18k (2020: £17k) were made to a defined contribulK)n scheme for two (2020.. vol employees. Aggwate employee benefrts including employerfs pension and national Insurance contdbullons, of key management personnel were £441 k12020: £431 k). Total headcount was 235 {2020'. 233). No termination payments12020: none) were made durfng the year. Neither the Govemors nor persons conr￿ted wSlh them received any remuneration or benefits from the School or any connected organisation, other than the reimbursement of travel expenses, weblnars and olher expenses which were necessarily ir￿Urred by Governors. This totalled £609 for four Governors in 2021 12020.. £703 for one Governor). ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 ANALYSI8 OF TOTAL EXPENDrruRE Staff Costs £'ooo other Depreciation £'ooo 2021 £'ooo 2020 Costs of ralslng funds Financlng costs Development 233 11 150 243 118 129 Total 118 244 393 Charltable actlvltles Teaching Housekeeping and Catering Premises Suppcrt and governance costs 8,368 237 423 1,276 1.524 934 1.222 345 9,892 1,171 2,668 9,888 1.023 3,766 1.388 Totsl 10,304 4,025 1.023 IS352 16,048 Ex¢optlonal ftems 139 Totsl oxponditur• 10.422 4.269 1.023 15,714 16,580 There were no Exceptlonal Items durlng the year. Exceptional items in 2020 of £138,839 comprised demolition costs associated wlth the new boardlng a￿0mmOdatIOn. FIXED ASSETS Land and Buildings Assets in course of )nstruclion £'ooo Oiher Assets Total £'ooo £'oc() At 1 September 2020 Additions Transfers Disposals 42,898 4,893 3,719 (7,802) 3,566 307 51,357 4,026 7.802 (1,133) {168) (1.301) At 31 August 2021 49,567 810 3,705 54,082 Dgpreclatlon At 1 September 2020 Charge for year Disposals 8.851 3.183 215 (162> 12,034 1.023 (674) (512) At 31 August 2021 9.147 3,236 12.383 Not book valuo At 31 August 2021 40,420 810 41,699 At 31 August 2020 34,047 4,893 383 39,323 27 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 FIXED ASSEfs (CONTINUED} Land and bufldings were valued on 29 September 1999 by King Stur98 and Co. Chartered Surveyors, using the deF￿lated replacement cost basis of valuation for the majority of the estate as well as the existing use basis of valuation for the residue where approprlale. to establish the falr value of these asset$ when Grfted to this (*aritable Gompany in 1999. The land value esllmated at £6m is not depreckited. Assets In o)urse of o)nstrudk)n amounting lo £7.8m to new slxth fonn boarding accommodation Yh8 6" whlch was compleled durSng the year and has b8en in use since March 2021. The Costs have been transferred into Land and Buildings. leaving a residual balance whiGh relates to the Art & Makerspace and the CATatyst Projects. As al 31 Auwsl 2021 IheTe was capital expendrture of £1.2m (2020: £4.4ml contracted for but not provided for in the financial statements. INVESTMENT IN SUBSIDIARY 2021 2020 Shares in subsidiary 100 100 Nel book value 8131 August 2021120201 100 100 The cost of the above inv8Stment tolalled £11xI. Th8 Sch¢)ol's interest 15 as follows.. Company Country of In¢orporatlon Shares held Class st Catherine's Enterprises Limited England and Wales Ordinary 100 The registered offKe of Sl. Catherine's Enterprises Limi18d (Company Number 29021111 Is al the same address as the School. The prinapal activity of the subsidiwy is that of selling unrforms and accessories lo the pupils of the School. The company also operates the Anniversary Halls Bar. Forum Café and Sports Club on the School site. The nel assets of Ihis ¢ompany at 31 August 2021 were £12k {2020: {£13k}, and, at that date, the company's total assets were £210k12020: £205k) and total liabililies were £198k {2020: £192kl. The company's profil and loss account for the year ended 31 August 2021 showed lumover of £129k12020: £146kl and an operating loss of £1k (2020: proflt of £9k). Glft Ald relatlng to the year ended 31 August 2020 {2020: £nil) was paid over during Ihe year. In 2020 there was a payment of lax of £3k In respect of the prior year profit whiGh was not paSd wlthln nlne mnlhs of the year end. No Grft {2020.' £8k) was payable al the year end. 10. RESTRICTED FUND INVESTMENTS The total restriGled fund investments were liquidated during 2004. The proceeds were loaned lo the general fund to finance the acquisition of tsvo residents.al properties. Interest Is payable on this loan to the ￿sIr1¢te￿ funds al 5% per annum, a8 shown in note 16. 11. DEBTORS 2021 £'ooo 2020 £000 Fees reGoveTable Amctrunt due from SL Catherine's Enterprises Limited Other debtors Prepaid expenses Accrued income 133 187 157 133 57 185 69 68 88 637 467 28 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 11. DEBTORS (¢ontinu•d) The amount due from Sl. Catherine's Enterprises Limited includes 8 loan of £150,000. which fall$ due In greater Ihan one year and which provides the compary wilh working Capital lo purchase school unrfomi stock for resale. Interest is charged at 1.75% p.a. above base on the balance outslandirvj at the beginning of each month. 12. CREDITORS: amounts falling du• wrthin on• y•ar 2021 £'ooo 2020 £000 Trade ¢redltors Fees in Advance Other taxation and social $e¢urty costs Other credltors Accrued expan888 Deferred Income Entrance fees Loan repayments (note 13) 367 731 220 218 231 71 1,278 39 874 203 238 897 1.157 333 3, T91 2,447 Fees in Advance scheme (r￿te 13) 2,211 5.659 6.238 The lotsl amount held in relation lo entrance fees of £1,278k is inclLKfed above. In the normal course of business. the expected repayment of these amounts will be £212k12020.. £170kl wthin one year and £1.07612020: £987k} after more than one year. The Govemors have reviewed the contract temis under which Pupil fee deposits are held by the School. Although under normal rcumslances these wi51 be repaid over future years when the pupils ¢omplete thelr educatlon at the School. pupils can leave al eadier dales. The School does not therefore h8ve an unconditional right to Tetain the individual depo$ils for al least 12 months after the balance sheet. In line with FRS 102, the balaft￿ of depos(t$ held al the year end have tsen Included wlthln current liabiliknes. 13. CREDrroRS: amounts falllng due aftor mor• than one year 2021 rooo 2020 £'oth) Loans Fees In Advance scheme &271 1,330 5,613 1.745 6.601 7,358 Fees in Advance scheme balanc￿ to be applied: In over 5 years In 2-5 years In 1-2 years In less than 1 year 48 583 736 2.447 1211 3,641 2,211 4.192 2.447 Less.. Included In current liabilrtie5 (note 12) 29 ST. CATHERINE'S SCHOOL, BRAIYILEY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 13. CREDITORS: amounts falllng duo aftar moro than on• yoar