## ## ## |CONTENTS|||Page| |---|---|---|---| |Company
information|||| |Trustees'
Report|||2 —10| |Report ofthe independent
auditors|||11 —13| |Consolidated
statement|offinancial|activities|14| |Group and Foundation|balance sheets||15| |Consolidated
statement|ofcash flows and notes||16| |Notes to the financial|statements||17-34| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Endowment|Restricted|Total|Total| |---|---|---|---|---|---|---|---|---| |||||Funds|Funds|Funds|2022|2021| |INCOME AND|||Note|||||| |ENDOWMENTS||||||||| |FROM:||||||||| |Charitable
Activities:||||||||| |Net fees receivable||||1,135,295||17,742,183|18,877,478|18,923,821| |Other educational||income||56,470||1,320,654|1,377,124|1,270,978| |Investments||||25||27,557|27,582|6,852| |Donations
and legacies||||2,120||966,144|968,264|774,413| |Grants||||||||45,048| |Total Income||||1,193,910||20,056,538|21,250,448|21,021,112| |EXPENDITURE|ON:|||||||| |Charitable
Activities|||6|1,675,708|436,297|17,385,671|19,497,676|19,177,371| |Total Expenditure||||1,675,708|436,297|17,385,671|19,497,676|19,177,371| |Net||||||||| |income/(expenditure)||||||||| |before investment||||(481,798)|(436,297)|2,670,867|1,752,772|1,843,741| |gains/(losses)||||||||| |Investment
gains/(losses)|||9|||(58)|(58)|18,081| |Net||||||||| |income/(expenditure)||||||||| |before transfers||||(481,798)|(436,297)|2,670,809|1,752,714|1,861,822| |Transfers|||14||988,169|(988,169)||| |Transfer ofassets|from|||||||3,977,239| |Redcliffe School||||||||| |Net movement
in||funds||(481,798)|551,872|1,682,640|1,752,714|5,839,061| |Total funds brought||forward||||||| |1 September 2021||||3,552,103|12,364,404|11,885,996|27,802,503|21,963,442| |Total
funds|carried|||||||| |forward at||||||||| |31August 2022|||14|3,070,305|12,916,276|13,568,636|29,555,217|27,802,503| ## ||||Group|Group|Foundation|Foundation| |---|---|---|---|---|---|---| ||||2022|2021|2022|2021| |||Notes||||| |FIXEDASSETS||||||| |Tangible fixed assets||8|24,961,292|24,318,255|4,023,672|4,090,336| |Investments||9|-|130,042||| ||||24,961,292|24,448,297|4,023,672|4,090,336| |CURRENT ASSETS||||||| |Debtors||10|341,476|228,142|25,156|46,736| |Cash and cash equivalents|||10,492,107|9,876,699|225,207|613,393| ||||10,833,583|10,104,841|250,363|660,129| |CREDITORS: amounts|falling due|||||| |within one year||11|(4,831,980)|(4,581,649)|(485,392)|(480,024)| |NET CURRENT ASSETS|||6,001,603|5,523,192|(235,029)|180,105| |TOTAL ASSETSLESSCURRENT||||||| |LIABILITIES|||30,962,895|29,971,489|3,788,643|4,270,441| |CREDITORS: amounts|falling due|||||| |after more than one year||12|(1,407,678)|(2,168,986)|(700,000)|(700,000)| |TOTAL NET ASSETS||13|29,555,217|27,802,503|3,088,643|3,570,441| |UNRESTRICTED FUNDS||14|3,069,305|3,552,103|3,070,305|3,552,103| |RESTRICTED FUNDS||14|13,568,636|11,885,996|18,338|18,338| |ENDOWMENT
FUND||14|12,916,276|12,364,404||| |TOTAL FUNDS|||29,555,217|27,802,503|3,088,643|3,570,441| ## ## ## |||||||2022|2021| |---|---|---|---|---|---|---|---| ||||||Note||| ||Net cash inflow from operations:
Net cash provided
by operations||||A|2,952,986|3,185,209| ||Cash flows from investing
activities:
Income from investments
Interest received
Proceeds from sale ofinvestments
Payments
to acquire tangible fixed assets
Cash received on merger with Redcliffe School|||||1,495
26,087
129,984
(1,344,813)|4,642
2,210
4,600
(351,447)
245,366| ||Net cash used in investing
activities|||||(1,187,247)|(94,629)| ||Cash flows from financing
activities:
Finance costs
Bank loan repayments
Bursary Fund loan repayments
New Bursary Fund loan|||||(162,162)
(488,169)
(500,000)|(196,388)
(455,475)
(375,000)
700,000| ||Net cash used in financing
activities|||||(1,150,331)|(326,863)| ||Change
in cash and cash equivalents|in the reporting||period||615,408|2,763,717| ||Net cash and cash equivalents
at beginning ofperiod|||||9,876,699|7,112,982| ||Net cash and cash equivalents
at end ofperiod|||||10,492, 107|9,876,699| |A.|RECONCILIATION
OF NET MOVEMENT||IN FUNDS TO|||2022|2021| ||NET CASH INFLOW FROM OPERATIONS||||||| ||Net movement
in funds
Depreciation
charges
Loss/(gain)
on investment
Increase
in debtors
Increase
in creditors
Investment
income and interest received
Finance costs
Transfer ofnet assets from Redcliffe School|||||1,752,714
701,777
58
(113,334)
477,191
(27,582)
162,162|5,839,061
696,024
(18,081)
(69,187)
525,095
(6,852)
196,388
(3,977,239)| ||Net cash inflow from operations|||||2,952,986|3,185,209| |B.|ANALYSIS OF CHANGES IN NET|DEBT|At|I September||Other|At 31August| |||||2021|Cashflows|Changes|2022| ||Cash and cash equivalents
Cash
Deposit accounts|||2,266,699
7,610,000|615,408||2,882, 107
7,610,000| ||Borrowings
Debt due within
one year
Debt due aAer one year|||9,876,699
(985,094)
(2,141,308)|615,408
(988,169)|1,215,030
761,308|10,492,107
(758,233)
(1,380,000)| |||||(3,126,402)|(988,169)|1,976,338|(2,138,233,)| ||Total|||6,750,297|(372,761)|1,976,338|8,353,874| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2.|NET FEESRECEIVABLE||||2022|2021| |---|---|---|---|---|---|---| ||Net fees receivable consist of:|||||| ||Gross fees receivable
Fees given as scholarships
Fees given as bursaries
Fee remission
for staff||||20,676,987
(103,536)
(1,718,181)
(71,578)|20,549,566
(103,883)
(1,731,751)
(79,649)| ||||||18,783,692|18,634,283| ||Add: Bursaries paid by restricted||funds||93,786|289,538| ||Payable by parents
(net of scholarships|||and bursaries)|18,877,478|18,923,821| |3.|OTHER EDUCATIONAL|INCOME|||2022|2021| ||School lunch income
Music, Speech and Drama
Registration
fees
Registration
deposits forfeited
Insurance
commissions
Management
fees
Lettings/hire
income
Sundry receipts||||610,052
553,657
146,825
27,835
15,489
1,000
22,125
141|435,785
532,881
188,400
11,696
22,667
1,000
1,250
77,299| ||||||1,377,124|1,270,978| |4.|INCOME FROM INVESTMENTS||||2022|2021| ||Elizabeth
Godolphin
Fund
Deposit interest||||26,062|2,188| ||Prize Fund
Dividends
and interest||||1,495|4,642| ||Other interest||||25|22| ||||||27,582|6,852| ## ## ## |5.|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|||2022|2021| |---|---|---|---|---|---|---| ||Unrestricted
Funds:
Other donations||||2, 120|120| ||||||2, 120|120| ||Restricted Funds:|||||| ||Elizabeth
Godolphin
Fund
Annual
fund receipts
Godolphin
and Latymer School Bursary Fund
Bursaries —Godolphin
and Latymer School
Bursary Fund —Redcliffe
Prize Fund Donations||||60,000
803,358
69,255
23,531
2,000
8,000|62,800
641,488
23,085
46,170
750| ||Total restricted
funds||||966,144|774,293| ||Total||||968,264|774,413| |6.|ANALYSIS OFTOTAL|EXPENDITURE
Staff costs||Other costs|Depreciation|Total| ||||2022|2022|2022|2022| ||Charitable
Activities:|||||| ||School Operating
Costs:
Prizes
Teaching costs
Welfare costs
Premises costs
Support and governance
Finance costs|costs|11,011,185
133,146
298,503
2,466,172|12,700
839,864
884,689
1,962,791
930,901
162,162|30,876
670,901|12,700
11,881,925
1,017,835
2,932,195
3,397,073
162,162| ||Bursaries from restricted|funds||93,786||93,786| ||||13,909,006|4,886,983|701,777|19,497,676| ||Comparative
analysis|oftotal expenditure
Staff costs||Other costs|Depreciation|Total| ||||2021|2021|2021|2021| ||Charitable
Activities:|||||| ||School Operating
Costs:
Prizes
Teaching costs
Welfare costs
Premises costs
Support
and governance
Finance costs|costs|11,000,989
139,154
249,508
2,338,037|12,100
780,940
754,159
1,833,178
887,356
196,388|17,151
678,873|12,100
11,799,080
893,313
2,761,559
3,225,393
196,388| ||Bursaries from restricted|funds||289,538||289,538| ||||13,727,688|4,753,659|696,024|19,177,371| ## ## ## ## |
Teaching
costs primarily
repres
follows:|ent
depa|rtmental
an|d related
costs.
Supp|ort
costs can be furthe|r
analysed
as| |---|---|---|---|---|---| |||||2022|2021| |Support and governance
costs ofschooling
Printing
stationery
and postage
Telephone
Advertising
and recruitment
Insurances
Sundry expenses
Legal and professional
Courses and conferences
Governance
costs||||32,952
20,928
181,410
178,762
282,560
94,258
92,631
47,400|36,665
18,084
124,193
155,791
297,692
147,279
54,092
53,560| |||||930,901|887,356| |Analysis ofgovernance
costs:
Governors
indemnity
insurance
Auditor's
remuneration
—for audit services for the|||School|3,312
47,400|2,905
50,655| |||||50,712|53,560| |STAFF COSTS||||2022|2021| |Wages and salaries
Social security costs
Pension contributions
Redundancy
and termination|payments|||10,560,465
1,239,470
2,089,071
20,000|10,436,000
1,174,228
2,061,139
56,321| |||||13,909,006|13,727,688| |The average number ofpersons employed||by the group|during the year was:|2022|2021| |Teaching staff
Peripatetic
and support staff
Temporary
staff||||146
105
2|146
100
2| |||||253|248| |The number ofemployees
who received remuneration|||of$60,000or greater,|in the following
bands
2022|was:
2021| |f60,000 - f70,000
f70,000 - $80,000
f80,000 - f90,000
f90,000 - f100,000||||25
10
8|22
11
6
1| |f100,000 - f110,000|||||| |f110,000 - f120,000|||||| |f120,000 - $130,000|||||| |f160,000 - $170,000|||||| |f170,000 - f180,000|||||| |f250,000 - $260,000|||||| ## ## |GROUP|||||||| |---|---|---|---|---|---|---|---| |||Leasehold||Fixtures,|||| ||Freehold
Property|Property|Plant &
Machinery|&
Equipment
E|Assets under
construction
f|Astro
Turf|Total| |Cost or valuation
At
1 September 2021
Additions
at cost|23,906,833|8,110,874|355,000|82,830
75,484|286,191
1,269,329|412,465|33,154,193
1,344,813| |At 31 August 2022|23,906,833|8,110,874|355,000|158,314|1,555,520|412,465|34,499,006| |Depreciation
At
1 September 2021
Charge foryear|6,448,908
452,928|1,873,786
159,007|106,500
17,750|35,493
30,877||371,250
41,215|8,835,937
701,777| |At 31 August 2022|6,901,836|2,032,793|124,250|66,370||412,465|9,537,714| |Net Book Value
At 31 August 2022|17,004,997|6,078,081|230,750|91 945|1 555 520||24,961,292| |At 31 August 2021|17,457,925|6,237,088|248,500|47,337|286,191|41,215|20,519,282| |FOUNDATION|||||||| |||Leasehold||Fixtures,|||| ||Freehold
Property|Property|Plant &
Machinery|&
Equipment|Assets under
construction
f|Astro
Turff|Total
'E| |Cost or valuation
At 1 September 2021|2,950,000|1,167,296||48,503|||4,165,799| |Additions
at cost|||||||| |At 31 August 2022|2,950,000|1,167,296||48,503|||4,165,799| |Depreciation
At
1 September 2021
Charge for year|34,381
34,381|20,157
20,157||20,925
12,126|||75,463
66,664| |At 31 August 2022|68,762|40,314||33,051|||142,127| |Net Book Value
At 31 August 2022|2,881,238|1,126,982||15,452|||4,023,672| |At 31 August 2021|2,915,619|1,147,139||27,578|||4,090,336| ## ## ## ## |CREDITORS: due after|more tha|n one year||||| |---|---|---|---|---|---|---| ||||Group||Foundation|| ||||2022|2021|2022|2021| |Old Dolphins
Association|||27,678|27,678||| |Bank loan (see below)||||261,308||| |Godolphin
and
Latymer
Fund loan|School|Bursary|1,380,000|1,880,000|700,000|700,000| ||||1,407,678|2,168,986|700,000|700,000| |The bank loan is repayable|in instaiments;|||||| |Due after five years||||||| |Due within two to five years||||||| |Due within
one to two years||||261,308||| |||||261,308||| |Due aAer more than one year||||261,308||| |Due within one year (see|note 11)||258,233|485,094||| ||||258,233|746,402||| ## |SPLIT OF|NET ASSETS BETWEE|N FUNDS||| |---|---|---|---|---| ||||Net current|| ||||assets and|| |GROUP||Fixed assets|long term debt|Total| |||2022|2022|2022| |Unrestricted|Funds|4,023,672|(953,367)|3,070,305| |Restricted Funds||6,583,111|6,985,525|13,568,636| |Endowment|Funds|14,354,509|(1,438,233)|12,916,276| |Balances at|31August 2022|24,961,292|4,593,925|29,555,217| |Comparative||split ofnet assets betw|een funds|||| |---|---|---|---|---|---|---| ||||||Net current|| ||||||assets and|| |GROUP|||Fixed assets|Investments|long term debt|Total| ||||2021|2021|2021|2021| |Unrestricted||Funds|4,090,335||(538,232)|3,552, 103| |Restricted|Funds||5,437,114|130,042|6,318,840|11,885,996| |Endowment||Funds|14,790,8066||(2,426,402)|12,364,404| |Balances at||31 August 2021|24,318,255|130,042|3,354,206|27,802,503| ## ## |SPLIT OF|NET ASSETSBETW|EEN FUNDS (conti|nued)|| |---|---|---|---|---| ||||Net current|| ||||assets and|| |FOUNDATION||Fixed assets|long term debt|Total| |||2022|2022|2022| |Unrestricted|Funds|4,023,672|(953,367)|3,070,305| |Restricted Funds|||18,338|18,338| |Balances at|31 August 2022|4,023,672|(935,029)|3,088,643| ||||Net current|| |---|---|---|---|---| ||||assets and|| |FOUNDATION||Fixed assets|long term debt|Total| |||2021|2021|2021| |Unrestricted|Funds|4,090,336|(538,233)|3,552, 103| |Restricted Funds|||18,338|18,338| |Balances at|31 August 2021|4,090,336|(519,895)|3,570,441| ## ## ## |ORT|HE YEAR ENDED 31AUGUST 2022|HE YEAR ENDED 31AUGUST 2022|||||| |---|---|---|---|---|---|---|---| |14.|FUND MOVEMENTS IN YEAR
GROUP||Balance at
I September
2021|Income|Expenditure|Transfers &
investment
gains/(losses)|Balance at
31August
2022| ||Unrestricted
funds||3,552, 103|1,193,910|(1 675 708)||3 070 305| ||Restricted
funds||||||| ||Godolphin
and Latymer School:
Elizabeth
Godolphin
Fund
Designated —Annual
Fund
Prize fund
Elizabeth
Crane Fund||10,326,292
1,409,950
115,749
15,667|19,148,899
803,358
9,495|(17,272,185)
(7,000)
(11,700)|(988,227)|11,214,779
2,206,308
113,544
15,667| ||Bursary Fund
Bursaries|||69,255
23,531|(69,255)
(23,531)||| ||Foundation:
Bursary Fund - Redcliffe
Travel grant fund
Curriculum
enrichment
Fund
Alumnae
Programme
(70~ Gala)
Wellbeing
programme
(70'"Gala)
Lego coding and science equipment||750
2,637
1,637
5,154
5,154
3,006|2,000|(2,000)||750
2,637
1,637
5,154
5,154
3,006| ||||11,885,996|20,056,538|(17,385,671)|(988,227)|13,568,636| ||Endowment
Funds||12,364,404||(436,297)|988,169|12,916,276| ||||27,802,503|21,250,448|(19,497,676)|(58)|29,555,217| ||Contparative
fiend movements|in year|||||| ||GROUP||Balance at
I September
2020|Income|Expenditure|Transfers &
investment
gains/(losses)|Balance at
31August
2021| ||Unrestricted
funds|||1,458,856|(1,646,121)|3,739,368|3,552,103| ||Restricted
funds||||||| ||Godolphin
and Latymer School
Elizabeth
Godolphin
Fund
Designated —Annual
Fund
Prize fund
Elizabeth
Crane fund||9,252,935
777,634
105,126
15,667|18,846, 121
641,488
4,642|(16,783,622)
(9,172)
(12,100)|(989,142)
18,081|10,326,292
1,409,950
115,749
15,667| ||Bursary Fund
Bursaries|||23,085
46,170|(23,085)
(46,170)||| ||Foundation:
Bursary Fund —Redcliffe
Travel grant fund
Curriculum
enrichment
fund
Alumnae
programme
(70'"Gala)
Wellbeing
programme
(70'"Gala)
Lego coding and science|||750|(220,283)|220,283
2,637
1,637
5,514
5,514
3,006|750
2,637
1,637
5,154
5,154
3,006| ||equipment||||||| ||||10,151,362|19,562,256|(17,094,432)|(733,190)|11,885,996| ||Endowment
Funds||11,812,080||(436,818)|989,142|12,364,404| ||||21,963,442|21,021,112|(19,177,371)|3,995,320|27,802,503| ## ## ## |14|FUND MOVEMENTS|FUND MOVEMENTS|IN YEAR|(Continued)||||| |---|---|---|---|---|---|---|---|---| ||FOUNDATION|||Balance at|||Transfers k,|Balance at| |||||1September|||investment|31August| |||||2021|Income|Expenditure|gains/(losses)|2022| ||Unrestricted
funds|||3,552, 103|1,193,910|(1,675,708)||3,070,305| ||Restricted
funds|||||||| ||Bursary
fund - Redcliffe
Travel grant fund
Curriculum
enrichment||fund|750
2,637
1,637|2,000|(2,000)||750
2,637
1,637| ||Alumnae
Programme
Wellbeing
programme|(70'"Gala)
(70~ Gala)||5,154
5,154||||5,154
5,154| ||Lego coding and science|||3,006||||3,006| ||equipment|||||||| |||||18,338|2,000|(2,000)||18,338| ||Endowment
funds|||||||| |||||3,570,441|1,194,910|(1,676,708)||3,088,643| ## |FOUNDATION||Balance at|||Transfers &|Balance at| |---|---|---|---|---|---|---| |||1 September
2020|Income|Expenditure|investment
gains/(losses)|31August
2021| |Unrestricted
funds|||1,458,856|(1,646,121)|3,739,368|3,552, 103| |Restricted
funds||||||| |Bursary fund -Redcliffe
Travel grant fund
Cuniculum
enrichment
fund|||750|(220,283)|220,283
2,637
1,637|750
2,637
1,637| |Alumnae
Programme
(70'"Gala)
Wellbeing
programme
(70'"Gala)
Lego coding and science|||||5,154
5,154
3,006|5,154
5,154
3,006| |equipment||||||| ||||750||237,871|18,338| |Endowment
funds||||||| ||||1,459,606|(1,866,404)|3,977,239|3,570,441| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |otal pension c|ontrib|utions|made
in the year are analysed
as follow|s:|| |---|---|---|---|---|---| |||||2022|2021| |Total contributions
Teaching staff
Non-teaching
staff||during|the year were:|1,670,200
418,871|1,666,870
394,270| |||||2,089,071|2,061,139| ## ## |e Group's
future minimum
operating
lease|payments
are as follow|s:|||| |---|---|---|---|---|---| |||Equipment||Equipment|| |||Charity||Group|| ||2022||2021|2022|2021| |Within one year
Between two and five years||||219,941
218,899|184,054
176,838| |||||438,840|360,892| ## ## ## ## ## |19.|COMPARATIVE CONSOLIDATED OF|COMPARATIVE CONSOLIDATED OF|FINANCIAL|ACTIVITIES||| |---|---|---|---|---|---|---| ||||Unrestricted|Endowment|Restricted|Total| ||||Funds|Funds|Funds|Funds| |||||||2021| ||INCOME AND|Note||||| ||ENDOWMENTS FROM:|||||| ||Charitable
Activities:|||||| ||Net fees receivable|2|1,435,710||17,488,111|18,923,821| ||Other educational
income|3|23,004||1,247,974|1,270,978| ||Investments||22||6,830|6,852| ||Donations
and legacies
Grants||120||774,293
45,048|774,413
45,048| ||Total Income||1,458,856||19,562,256|21,021,112| ||EXPENDITURE ON:|||||| ||Charitable
Activities|6|1,646, 121|436,818|17,094,432|19,177,371| ||Total Expenditure||1,646, 121|436,818|17,094,432|19,177,371| ||Net
income/(expenditure)||(187,265)|(436,818)|2,467,824|1,843,741| ||before investment
gains|||||| ||Investment
gains||||18,081|18,081| ||Net
income/(expenditure)||(187,265)|(436,818)|2,485,905|1,861,822| ||before transfers|||||| ||Trans fers|14||989,142|(989,142)|| ||Transfer ofassets from Redcliffe||3,739,368||237,871|3,977,239| ||School|||||| ||Net movement
in funds||3,552, 103|552,324|1,734,634|5,839,061| ||Total funds brought
fonvard
1 September 2020|||11,812,080|10,151,362|21,963,442| ||Total funds carried forward at|||||| ||31August 2021|14|3,552, 103|12,364,404|11,885,996|27,802,503| ## ## |Financial Activities
and Balance shee|t are given below:||| |---|---|---|---| |Statement ofFinancial Activities||2022|2021| |Income|||| |Net fees receivable
Other Educational
Income
Investments||17,742,183
1,320,654
27,557|17,488,111
1,247,974
6,830| |Donations
and legacies
Grants||964,144|773,543
45,048| |||20,054,538|19,561,506| |~Ex enditure
Charitable
Activities||17,819,968|17,310,697| |Investment
(loss)/gain||(58)|18,0&1| |Net movement
in funds||2,234,512|2,268,620| |Total funds bought forward||24,232,062|21,963,442| |Total funds carried forward||26,466,574|24,232,062| |Balance Sheet
Tangible
fixed assets
Investments||20,937,620|20,227,920
130,042| |Debtors
Cash in hand and at bank||391,131
10,266,900|285,324
9,263,306| |Creditors: Amounts
falling due within
Creditors: Amounts
falling due after|one year
more than one year|(4,421,399)
(707,678)|(4,205,544)
(1,468,986)| |Net Assets||26,466,574|24,232,062| |Unrestricted
Funds
Restricted Funds
Endowment
Fund||13,421,145
129,153
12,916,276|11,736,242
131,416
12,364,404| |Accumulated
Funds||26,466,574|24,232,062|