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||**Page**|
|---|---|
|Company information|1|
|Directors' report (incorporating the Strategic report)|3|
|Independent auditor's report|`24`|
|Financial statements of the company|`28`|





## 

|**Directors**|**Directors**|R Haynes Brown (Chair)|
|---|---|---|
|||J Armstrong|
|||S Bradshaw|
|||SLChampkin|
|||G WDixon|
|||VJohnson|
|||D H T Johnson-Poensgen|
|||S Kay|
|||LE Lindsay|
|||J Martin|
|||R Martin|
|||KEC Sweeney|
|**Secretary**||S Koziarski|
|**Charity **|**No.**|01076456|
|**Company No.**||03779971|
|**Principal Address and Registered Office**||Ardingly College|
|||College Road|
|||Ardingly|
|||Haywards Heath|
|||West Sussex|
|||RH176SQ|
|**Key Management Personnel**|||
||**Head of College**|BAFiggis|
||**Head of Senior School**|J Johnson|
||**Head of Prep School**|H Hastings|
|**Auditor**||**RSM UK**Audit LLP|
|||Portland|
|||25 High Street|
|||Crawley|
|||West Sussex|
|||RH10 1BG|





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||**2020/2021**||2019/2020||
|---|---|---|---|---|
|Senior School|**631**|**(309 boarders)**|602|(307 boarders)|
|Preparatory School|**316**|**(32 boarders)**|315|(38 boarders)|
|Pre-Preparatory School|**83**||78||
|Total|**1030**||995||
||**2020/2021**||2019/2020||
||**Boys**|**Girls**|Boys|Girls|
|Senior School|**362**|**269**|336|266|
|Preparatory School|**155**|**161**|166|149|
|Pre-Preparatory School|**45**|**38**|38|40|
|Total|**562**|**468**|540|455|



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||Notes|Unrestricted|Restricted|Endowed|**Total**|Total|
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|**2021**|2020|
|||£|£|£|£|£|
|**Income and endowments from:**|||||||
|**Charitable Activities**|||||||
|Schoolfees receivable|2|21,058,954|||**21,058,954**|19,264,438|
|Ancillarytrading income|3|1,023,187|||**1,023,187**|887,460|
|**Other trading activities**|||||||
|Non-ancillarytrading income|4|965,488|||**965,488**|768,161|
|Other Activities|4|4,957|||**4,957**|4,508|
|**Investments**|||||||
|Bankand other interest|5|359|12,421||**12,780**|17,916|
|**Voluntary Sources**|||||||
|Grants and donations|6|399,161|353,623||**752,784**|1,707,049|
|**Other income**||10,400|||**10,400**|2,078|
|**TOTAL INCOME**||23,462,506|366,044||**23,828,550**|22,651,610|
|Expenditure on:|||||||
|**Raising funds**|||||||
|Non-ancillarytrading|7|985,694|||**985,694**|923,874|
|Other income generating activities|||||||
|Financing costs|8|536,020|||**536,020**|543,032|
|Investmentmanagement|||||||
|Fundraising and development|7|71,119|||**71,119**|80,392|
|**TOTAL RAISING FUNDS**||1,592,833|||**1,592,833**|1,547,298|
|**Charitable Activities**|||||||
|Education and grantmaking|7|21,867,927|173,442||**22,041,369**|21,076,426|
|**TOTAL EXPENDITURE**||23,460,760|173,442||**23,634,202**|22,623,724|
|Netgains/(losses) on investment<br>assets|13|256,063||4,085|**260,148**|(62,585)|
|**Net income/(expenditure)**||257,809|192,602|4,085|**454,496**|(34,699)|
|Transfers betweenfunds|23||||||
|**Other recognised gains/(losses)**|||||||
|Pension scheme actuarial gains|25|12,000|||**12,000**|406,000|
|**Net Movement in funds for the**<br>**year**||269,809|192,602|4,085|**466,496**|371,301|
|Fund balances at 1stSeptember||15,863,275|613,962|268,666|**16,745,903**|16,374,605|
|**FUND BALANCES AS AT 31ST AUGUST**||16,133,084|806,564|272,751|**17,212,399**|16,745,906|





## 

||Notes|Unrestricted|Restricted|Endowed|**2021**|2020|
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|||
|||£|£|£|£|£|
|**Income and endowments from:**|||||||
|**Charitable Activities**|||||||
|Schoolfees receivable|2|21,058,954|||**21,058,954**|19,264,438|
|Ancillarytrading income|3|1,038,687|||**1,038,687**|902,960|
|**Other trading activities**|||||||
|Non-ancillarytrading income|4|247,093|||**247,093**|175,858|
|Otheractivities|4|4,957|||**4,957**|4,508|
|**Investments**|||||||
|Bankand other interest|5|345|12,421||**12,766**|17,804|
|**Voluntary sources**|||||||
|Grantsand donations|6|399,161|353,623||**752,784**|1,707,049|
|**Other income**||10,400|||**10,400**|2,078|
|**TOTAL INCOME**||22,759,597|366,044||**23,125,641**|22,074,695|
|**Expenditure on:**|||||||
|**Raising funds**|||||||
|Non-ancillarytrading|7||||||
|Other income generating|||||||
|activities|||||||
|Financing costs|8|527,804|||**527,804**|536,563|
|Investmentmanagement|||||||
|Fundraising and development|7|71,119|||**71,119**|80,392|
|**TOTAL RAISING FUNDS**||598,923|||**598,923**|616,955|
|**Charitable Activities**|||||||
|Education and grantmaking|7|21,865,157|173,442||**22,038,599**|21,073,927|
|**TOTAL EXPENDITURE**||22,464,080|173,442||**22,637,522**|21,690,882|
|Netgains/(losses) on investment<br>assets|13|256,063||4,085|**260,148**|(62,585)|
|**Net income/(expenditure)**||551,580|192,602|4,085|**748,267**|321,228|
|<<br>Transfers betweenfunds|23|||||i|
|**Other recognised gains/(losses)**|||||||
|Pension scheme actuarial gains|25|12,000|||**12,000**|406,000|
|**Net Movement in funds for the**<br>**year**||563,580|192,602|4,085|**760,267**|727,228|
|Fund balancesat 1stSeptember||16,292,034|613,962|268,666|**17,174,662**|16.447.435|
|**FUND BALANCES AS AT 31ST**<br>**AUGUST**||16,855,614|806,564|272,751|**17,934,929**|17,174,663|





## 

||**Note**|**Group**||**Charity**||
|---|---|---|---|---|---|
|||**2021**|2020|**2021**|2020|
|||£|£|£|£|
|**FIXED ASSETS**||||||
|Tangibleassets|12|28,715,400|29,551,579|28,715,400|29,551,579|
|Securities Investments|13|1,223,726|963,578|1,223,726|963,578|
|Investment in subsidiaries||||3|3|
|||29,939,126|30,515,157|29,939,129|30,515,160|
|**CURRENT ASSETS**||||||
|Stock||79,725|49,730|73,137|18,757|
|Debtors|14|465,230|974,917|1,322,012|1,149,406|
|Cash at bankand in hand||4,222,618|1,803,028|4,010,708|1,597,616|
|||4,767,573|2,827,675|5,405,857|2,765,779|
|**CURRENT LIABILITIES**||||||
|Creditors payablewithinone|15|(5,457,858)|(5,784,091)|(5,373,615)|(5,293,441)|
|year||||||
|**NET CURRENT**<br>**ASSETS/(LIABILITIES)**||(690,285)|(2,956,416)|32,242|(2,527,662)|
|**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**||29,248,841|27,558,741|29,971,371|27,987,498|
|**LONG TERM LIABILITIES**||||||
|Creditors payableafterone|16|(10,764,342)|(9,487,735)|(1O,764,342)|(9,487,735)|
|year||||||
|**TOTAL NET ASSETS**||||||
|**EXCLUDING PENSION**||**18,484,499**|18,071,006|**19,207,029**|18,499,763|
|**LIABILITY**||||||
|Net pension liability|25|**(1,272,000)**|(1,325,000)|**(1,272,000)**|(1,325,000)|
|**NET ASSETS**||**17,212,499**|16,746,006|**17,936,029**|17,174,763|
|**REPRESENTED BY:**||||||
|**CALLED UP SHARE**|20|**100**|100|**100**|100|
|**CAPITAL**||||||
|**ENDOWED FUNDS**|21|**272,761**|268,666|**272,761**|268,666|
|**RESTRICTED FUNDS**|21|**806,664**|613,962|**806,664**|613,962|
|**UNRESTRICTED FUNDS**||||||
|General reserve|21|**14,861,084**|14,538,278|**15,583,614**|14,967,035|
|Pension reserve|25|**1,272,000**|1,325,000|**1,272,000**|1,325,000|
|||**17,212,499**|16,746,006|**17,936,029**|17,174,763|





|||**2021**|2020|
|---|---|---|---|
||Notes|**£'000**|£'000|
|**Cash flows from operating activities:**||||
|**Net cash provided by (used in) operating activities**|26|**3,283,233**|2,903,999|
|**Cash flows from investing activities:**||||
|Dividends, interest and rents from investments||**12,780**|17,916|
|Proceeds from the sale of property, plant and equipment||**10,400**|7,800|
|Purchase of property, plant and equipment||**(1,385,039)**|{4,027,217)|
|Less project spendwritten off||**86,524**||
|Proceeds from sale of investments||||
|Purchaseof investments||||
|**Net cash provided by (used in) investing activities**||**(1,275,335)**|**(4,001,501)**|
|**Cash flows from financing activities:**||||
|Repayments of borrowing||**(192,193)**|(184,866)|
|Cash inflows from new borrowing||**1,139,908**|1,753,000|
|Financing costs||**(536,020)**|(543,032)|
|Receipt of endowment||||
|**Net cash provided by (used in) financing activities**||**411,695**|1,025,102|
|**Change in cash and cash equivalents in the year**||**2,419,593**|(72,400)|
|**Cash and cash equivalents at the beginning of the year**||**1,803,025**|1,875,428|
|**Cash and cash equivalents at the end of the year**|**27**|**4,222,618**|1,803,028|





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|Freehold land is not depreciated||
|---|---|
|Freehold Buildings:|- Variable according tothe building and written _off_over|
||theexpected useful life (see paragraph below)|
|Freehold improvements|- Overthe useful economic life ofthe improvement|
|Leasehold land|-Overtheshorteroftheeconomic life oftheassetorthe|
||life ofthe lease|
|Leasehold enhancement|- Overtheeconomic life oftheasset|
|Computerequipment|-25% on cost|
|Telephone system|- 10% on cost|
|Fixtures and fittings|- between 5% and 25% on cost|
|Motorvehicles|- 25% on cost.|





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## 

||**2021**|2020|
|---|---|---|
||£|£|
|The school fees income comprises|||
|Gross fees|**23,473,911**|21,458,734|
|Less: Total scholarships, bursaries, etc|**(2,414,957)**|(2,194,296)|
|Add back: Scholarships, Grants etc paid for by Restricted|||
|Funds|||
||**21,058,954**|19,264,438|



|||**2021**|2020|
|---|---|---|---|
|||£|£|
||Extras|**617,613**|557,857|
||Entrance fees and registration fees|**67,755**|88,098|
||Pupil transport|**81,336**|47,640|
||Rent receivable and related income|||
||Commissions and related income|**54,726**|48,803|
||Sundry other income|**201,757**|145,062|
|||**1,023,187**|887,460|
|4.|**OTHER TRADING ACTIVITIES**|||
|||**2021**|2020|
|||£|£|
||**Non-ancillary trading income**|||
||Ardingly Projects Limited turnover|**778,145**|342,286|
||Ardingly College International Limited turnover|**70,000**|328,076|
||Rents receivable|**117,343**|97,799|
||Interest receivable- pupil bills|**4,957**|4,508|
|||**970,445**|772,669|





|5.|**INVESTMENTS - BANK AND OTHER **|**INVESTMENTS - BANK AND OTHER **|**INTEREST RECEIVABLE**|**INTEREST RECEIVABLE**|||
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowed|**Total**|Total|
||||||**2021**|2020|
||||||£|£|
||Bank interest|14|||**14**|3,502|
||Other interest|345|12,421||**12,766**|14,414|
|||359|12,421||**12,780**|17,916|
|6.|**OTHER - GRANTS AND DONATIONS**||||||
|||Unrestricted|Restricted|Endowed|**Total**|Total|
||||||**2021**|2020|
||||||£|£|
||Sundry Bequests &|27,145|353,623||**380,768**|189,889|
||Donations||||||
||Government Funding|372,016|||**372,016**|1,167,160|
||Legacies|||||350,000|
|||399,161|353,623||**752,784**|1,707,049|





|a)<br>**Total expenditure**|||||||
|---|---|---|---|---|---|---|
||Staffcosts|Support|Depreciation||**Total**|Total|
|||costs|||||
||(note 9)||(Note 12)||**2021**|2020|
||£|£||£|£|£|
|**Costs of raising funds**|||||||
|Non ancillary trading|660,595|325,099|||**985,694**|923,874|
|Other incomegenerating|||||||
|activities|||||||
|Financing cost (note8)||536,020|||**536,020**|543,032|
|Investment management|||||||
|Fundraising and|49,928|21,191|||**71,119**|80,392|
|development|||||||
|**Total cost of generating**<br>**funds**|710,523|882,310|||**1,592,833**|1,547,298|
|**Charitable expenditure**|||||||
|Teaching|10,236,385|885,865|341,602||**11,463,852**|11,220,117|
|Welfare|1,318,809|1,035,058|1,663,878||**4,017,745**|3,822,927|
|Premises|1,398,567|2,643,109|47,113||**4,088,789**|3,769,826|
|School administration|1,300,377|1,031,557|82,101||**2,414,035**|2,220,538|
|Donations|||||||
|Grants awards and prizes||9,161|||**9,161**|6,543|
|(note 7b)|||||||
|Governance||47,787|||**47,787**|36,475|
|**Education and grant**<br>**making**|14,254,138|5,652,537|2,134,694||**22,041,369**|21,076,426|
|**Total Expenditure**|14,964,661|6,534,847|2,134,694||**23,634,202**|22,623,724|





|7.|**ANALYSIS OF EXPENDITURE** (Continued)|
|---|---|
|b)|**Grants, awards and prizes**|
||Ardingly College makes awards to individual families to support schooling.|



|||**2021**|2020|
|---|---|---|---|
|||£|£|
|**From **|**Endowed Funds:**|||
|Other|grants and awards|||
|**From **|**Restricted Funds:**|||
|Other|grants and awards|||
|Prizes|and leaving awards|**9,161**|**4,448**|
|**From **|**Unrestricted Funds:**|||
|Other|grants and awards|||
|Prizes|and leaving awards||2,095|
|||**9,161**|6,543|



|c)|**Total resources expended include:**||||
|---|---|---|---|---|
||Ardingly College reimburses governors for out-of-pocket expenses||including travel subsistence and||
||accommodation, where a claim is made.|One governorwas reimbursed during the year (2020: 2).|||
||||**2021**|2020|
||||£|£|
||Remuneration paid to auditor for audit services||**35,400**|24,817|
||Remuneration paid to auditor for non-audit services||**3,600**||
||Depreciation of tangible fixed assets:||||
||- owned by the Charitable Company||**2,134,694**|1,878,068|
||- held under finance leases and hire|purchase contracts|||
||(Profit)/loss on disposal of fixed assets||**(10,400)**|(2,078)|
||Operating lease rentals:||||
||- land and buildings||||
||- other assets||**69,506**|51,707|
||Cost of stock/inventories recognised as an expense in the period||**705,529**|872,597|
||Reimbursement of personal expenses to governors||**48**|216|
|8.|**FINANCING COSTS**||||
||||**2021**|2020|
||||£|£|
||Bank interest payable||369,953|350,809|
||Other interest payable||||
||Fees In Advance debt financing costs||||
||Lease finance costs||||
||Pension Scheme financing cost||||
||Bank charges||33,300|31,319|
||Other finance costs||37,678||
||Provision for bad and doubtful debts||95,089|160,904|
||||536,020|543,032|





## 

## 

|**STAFF COSTS**|||
|---|---|---|
||**2021**|2020|
||`£`|£|
|The aggregate payroll costs for the yearwere:|||
|Wages and salaries|**12,789,929**|11,639,695|
|Social security costs|**1,135,752**|1,094,768|
|Other pension costs|**1,038,980**|1,727,498|
|Private medical insurance|||
||**14,964,661**|14,461,961|



||**2021**|2020|
|---|---|---|
||£|£|
|Aggregate employee benefits of key management personnel|**780,058**|603,446|
|The number of higher paid employees whose annual emoluments|||
|were £60,000 or more was:|||
||**2021**|2020|
||**No**|No|
|||(restated)|
|£60,001 -£70,000|7|8|
|£70,001 -£80,000|**1**|2|
|£80,001 -£90,000|**1**|1|
|£90,001 -£100,000|**1**||
|£100,001 -£110,000|**1**|1|
|£110,001 -£120,000|||
|£120,001 -£130,000|||
|£130,001 -£140,000|||
|£140,001 -£150,000|||
|£150,001 -£160,000|||
|£160,001 -£170,000|||
|£170,001 - £180,000|||
|£180,001 -£190,000|||
|£190,001 -£200,000|||
|£200,001 -£210,000|||
|£210,001 -£220,000|||
|£220,001 -£230,000|**1**||





|The numberwith retirement benefits accruing:||
|---|---|
|- in Defined Contribution schemes was|11|
|Ofwhich the contributions amounted to|£161,862|
|- in Defined Benefit schemes was|6|
|Ofwhich thecontributions amounted to|£49,225|





|(2020: 468)|||
|---|---|---|
||**`2021`**|2020|
||**No**|No|
|Teaching|**`147`**|152|
|Welfare|**`116`**|114|
|Premises|**`40`**|35|
|Support|**`79`**|81|
|Otheractivities|**`72`**|86|
||**`454`**|468|



## 

## 



## 

## 

|12. **TANGIBLE FIXED ASSETS**||||||||
|---|---|---|---|---|---|---|---|
|**Group and company**|Freehold||Assets|||||
||Land &|Freehold|Under|Plant &|Computer|Motor||
||Buildings|Improvements|Construction|Equipment|Equipment|Vehicles|Total|
||£|£|£|£|£|£|£|
|**Cost**||||||||
|At 1 September 2020|26,762,261|1,770,147|400,224|7,253,200|2,120,326|283,130|38,589,288|
|Additions|9,226|73,565|872,383|106,714|254,842|68,309|1,385,039|
|Disposals|-|-|(86,524)|(53,670)|-|(10,414)|(150,608)|
|Transfers|-|65,522|(65,522)|||||
|**At 31August 2021**|26,771,487|1,909,234|1,120,561|7,306,244|2,375,168|341,025|39,823,719|
|**Depreciation**||||||||
|At 1° September 2020|3,283,556|378,208|-|4,188,521|966,069|221,355|9,037,709|
|Charge for the year|851,950|160,511|-|656,849|421,004|44,380|2,134,694|
|Disposals|-|-|-|(53,670)|-|(10,414)|(64,084)|
|**At 31%August 2021**|4,135,506|538,719|-|4,791,700|1,387,073|255,321|11,108,319|
|**Net book value at 31°**||||||||
|**August 2021**|**22,635,981**|**1,370,515**|**1,120,561**|**2,514,544**|**988,095**|**85,704**|**28,715,400**|
|Net book value at 31August||||||||
|2020|23,478,705|1,391,939|400,224|3,064,679|1,154,257|61,775|29,551,579|





## 

|**SECURITIES INVESTMENTS**|||
|---|---|---|
||**Securities**||
||**Investments**||
||**2021**|2020|
||£|£|
|**Group investments**|||
|At 1 September|**963,578**|1,026,163|
|New money invested|||
|Reinvested income|||
|Amounts extracted|||
|Investment management fees|||
|Realised gains/(losses) on investments|||
|Unrealised gains/(losses) on|**260,148**|(62,585)|
|investments|||
|Movement in uninvested cash|||
|**Group investments at 31 August**|**1,223,726**|963,578|
|Investment in subsidiaries|**3**|3|
|**Company investments at 31 August**|**1,223,729**|963,581|
|**Investments comprise:**|||
|**Listed investments**|||
|Fixed interest|||
|Equities|**1,141,480**|963,578|
|**Unlisted investments**|||
|Land and buildings|||
|Other|||
|**Cash**|**82,246**||
|**Group investments at 31 August**|**1,223,726**|963,578|
|Investment in subsidiaries|**3**|3|
|**Company investments at 31 August**|**1,223,729**|963,581|



|HL Multi-Manager Income & Growth Trust|190,662|
|---|---|
|ASI Global Smaller Companies|86,832|
|Invesco UK Equity High Income|60,610|
|Fidelity Global Special Situations|60,330|





## 

||**Group**||**Company**||
|---|---|---|---|---|
||**2021**|2020|**2021**|2020|
||£|£|£|£|
|School fees receivable|**118,824**|251,551|**118,824**|251,551|
|Tradedebtors|**46,460**|276,869||18,418|
|Staffloans|||||
|Otherdebtors|**24,238**|228,787|**24,238**|228,787|
|Prepayments and accrued income|**275,708**|180,935|**275,708**|180,935|
|Tax recoverable||19,477||65|
|Amounts duefrom subsidiary|||**903,242**|452,355|
|company|||||
|Amounts duefrom parent company||17,298||17,298|
||**465,230**|974,917|**1,322,012**|1,149,409|





||**Group**||**Company**||
|---|---|---|---|---|
||**2021**|2020|**2021**|2020|
||£|£|£|£|
|Bank loans and overdrafts|**206,689**|192,192|**206,689**|192,192|
|Other loans|||||
|Net obligations underfinance|||||
|leases|||||
|Deposits from parents|**434,542**|339,051|**434,542**|339,051|
|Fees received from parents in|**2,560,496**|2,859,419|**2,560,496**|2,859,419|
|advanceofterm|||||
|Tradecreditors|**675,852**|709,604|**645,106**|602,540|
|Taxationand social security|**309,459**|289,988|**303,062**|282,739|
|Othercreditors|**265,034**|215,642|**264,412**|197,482|
|Fees inAdvance Scheme|**280,277**|116,297|**280,277**|116,297|
|Accruals|**723,399**|721,135|**679,031**|703,721|
|Deferred income|**2,110**|340,763|||
|Amounts duetosubsidiary|||||
|company|||||
|Amounts dueto parent company|||||
||**5,457,858**|5,784,091|**5,373,615**|5,293,441|






||**Group**||**Company**||
|---|---|---|---|---|
||**2021**|2020|**2021**|2020|
||£|£|£|£|
|Bank loans and overdrafts|8,388,344|7,455,126|**8,388,344**|7,455,126|
|Fees received from parents in|||||
|advance of term|||||
|Net obligations under finance|||||
|leases|||||
|Deposits from parents|2,244,496|1,817,144|**2,244,496**|1,817,144|
|Other creditors|||||
|Fees in Advance Scheme|131,502|215,465|**131,502**|215,465|
|Amounts due to parent company|||||
||10,764,342|9,487,735|**10,764,342**|9,487,735|



## 

|||**2021**|2020|
|---|---|---|---|
|||`£`|£|
|The|bank loan is repayable in instalments|||
|Due|after 5 years|**4,535,654**|4,797,251|
|Due|within 2 to 5 years|**3,633,605**|2,451,185|
|Due|within 1 to 2 years|**219,085**|206,690|
|Due|after more than one year|**8,388,344**|7,455,126|
|Due|within 1 year|**206,689**|192,192|
|||**8,595,033**|7,647,318|



## 

||**2021**|2020|
|---|---|---|
||£|£|
|After 5 years|||
|Within 2 to 5 years|**52,280**|76,520|
|Within 1 to 2 years|**79,222**|138,945|
|Due after more than one year|**131,502**|215,465|
|Within 1 year|**280,277**|116,297|
||**411,779**|331,762|





## 

## 

|**Summary of movements in liability**|£|
|---|---|
|Balance at 1 September 2020|331,762|
|New contracts|293,109|
|Repayments||
|Amounts used to pay fees|(213,092)|
|Amount accrued to contract as debt financing cost||
|**Balance at 31 August 2021**|411,779|



## 

||**Land and **|**buildings**|**Other**||
|---|---|---|---|---|
||**2021**|2020|**2021**|2020|
||`£`|`£`|£|£|
|Within 1 year|||**76,748**|64,477|
|Within 1 to 5 years|||**174,112**|152,707|
|After 5 years||||1,864|
||||**250,860**|219,048|



## 

||**2021**|2020|
|---|---|---|
||£|£|
|**Authorised**|||
|100 Ordinary Shares of £1 each|**100**|100|
|**Allotted, called up and fully paid**|||
|100 Ordinary Shares of £1 each|**100**|100|





## 

## 

## 

## 

## 

|Bursary Funds|**592,790**|
|---|---|
|Bursary & Prize Fund|**116,996**|
|Student Hardship Fund|**57,946**|
|Strength & Conditioning Centre|**14,763**|
|Schola ChoirTour|**12,268**|
|150Anniversary events|**10,000**|
|Community &Outreach|**1,801**|
||**806,564**|





## 

|Greatest Need|£420,017|
|---|---|
|Science Projects|£ 28,669|
|SolarCar|£ 19,153|
|Capital Projects|£ 16,680|
|General Bursary|£ 15,288|





## 

|||||**Total**|Total|
|---|---|---|---|---|---|
||Unrestricted|Restricted|Endowed|**2021**|2020|
||£|£|£|£|£|
|Tangiblefixed assets|28,425,987||289,413|**28,715,400**|29,551,579|
|Securities investments|1,213,371||10,355|**1,223,726**|963,578|
|Advancefees contracts|411,779|||**411,779**|331,762|
|Net current|(1,881,611)|806,564|(27,017)|**(1,102,064)**|(3,288,278)|
|(liabilities)/assets||||||
|Long term liabilities|(10,764,342)|||**(10,764,342)**|(9,487,735)|
|Net pension liability|(1,272,000)|||**(1,272,000)**|(1,325,000)|
||16,133,184|806,564|272,751|**17,212,499**|16,745,906|
|||||**Total**|Total|
||Unrestricted|Restricted|Endowed|**2020**|2019|
||£|£|£|£|£|
|Tangiblefixed assets|29,262,166||289,413|**29,551,579**|27,408,152|
|Securities investments|957,308||6,270|**963,578**|1,026,163|
|Advancefees contracts|331,762|||**331,762**|261,260|
|Net current<br>(liabilities)/assets|(3,875,223)|613,962|(27,017)|**(3,288,278)**|(3,075,742)|
|Long term liabilities|(9,487,735)|||**(9,487,735)**|(7,509,128)|
|Net pension liability|(1,325,000)|||**(1,325,000)**|(1,736,000)|
||15,863,278|613,962|268,666|**16,745,906**|16,374,705|





## 

## 



## 

## 

## 

## 

||**2021**|2020|
|---|---|---|
|Inflation assumption (RPI)|**3.6%**|3.2%|
|Rate of increase in salaries|**4.6%**|**4.2%**|
|The assumed rate of increaseto pensions in deferment|**3.6%**|3.2%|
|The assumed rate of interest to pensions in payment|**3.5%**|3.1%|
|Assumed rate used to discount scheme liabilities|**1.6%**|1.7%|
|Average life expectancy|**90.0**|90.4|



## 

## 

||**2021**|2020|
|---|---|---|
||£|£|
|Total market valueof assets|**3,327,000**|3,279,000|
|Present valueof liabilities|**(4,599,000)**|(4,604,000)|
|Deficit|**(1,272,000)**|{1,325,000)|





|**Analysis of amount recognised in Statement of Financial Activities**|**Analysis of amount recognised in Statement of Financial Activities**||
|---|---|---|
||**2021**|2020|
||£|£|
|Current servicecost|**33,000**|47,000|
|Net interest on defined benefit liability|**22,000**|33,000|
|Expenses paid from the Scheme|**8,000**|8,000|
|**Total Cost**|**63,000**|88,000|
|**Analysis of amount recognised in other comprehensive income**|||
||**2021**|2020|
||£|£|
|Actual return on assets|**86,000**|136,000|
|Return on assets included in net interest|**(55,000)**|(60,000)|
|Asset gain/(loss)|**31,000**|76,000|
|Liability experience gain/(loss)|**124,000**|220,000|
|Changeofassumptions gain/(loss)|**(135,000)**|118,000|
|**Remeasurement gain/(loss) in other**|||
|**comprehensive income**|**20,000**|414,000|
|**Changes in the present value of the defined benefit liabilities are:**|||
||**2021**|2020|
||£|£|
|Opening valueof liabilities|**4,604,000**|4,882,000|
|Interest cost|**77,000**|92,000|
|Service cost (including membercontributions)|**38,000**|54,000|
|Experience (gain) _I_ loss|**(124,000)**|(220,000)|
|Changeofassumptions (gain) _I_ loss|**135,000**|(118,000)|
|Benefits paid|**(131,000)**|(86,000)|
|Closing value of liabilities|**4,599,000**|4,604,000|
|**Changes in the fair value of the assets are as follows:**|||
||**2021**|2020|
||£|£|
|Opening value of assets|**3,279,000**|3,146,000|
|Expected return|**55,000**|60,000|
|Asset gain|**31,000**|76,000|
|Contributions by employer|**96,000**|84,000|
|Contributions by members|**5,000**|7,000|
|Benefits paid|**(131,000)**|(86,000)|
|Expenses paidfrom thescheme|**(8,000)**|(8,000)|
|Closing valueofassets|**3,327,000**|3,279,000|



## 

||**At **|**31 **|**Aug 21**|At 31 Aug 20|
|---|---|---|---|---|
|Equities|||**35.7%**|31.6%|
|Gilts|||**12.6%**|12.4%|
|Bonds|||**28.2%**|29.5%|
|Property|||**6.6%**|8.1%|
|Cash|||**0.6%**|0.3%|
|Annuities|||**16.3%**|18.1%|
|Total|||**100%**|100%|





||**2021**|2020|2019|2018|2017|
|---|---|---|---|---|---|
||**£'000**|£'000|£'000|£'000|£'000|
|Present valueof||||||
|liabilities|**(4,599)**|(4,604)|(4,882)|(4,099)|(4,398)|
|Total market valueof||||||
|assets|**3,327**|3.279|3,146|2,891|2,817|
|Deficit|**(1,272)**|{1,325)|(1,736)|(1,208)|(1,581)|
|Experience gain /(loss)||||||
|onassets|**31**|76|187|75|97|
|Experiencegain/(loss)||||||
|on liabilities|**124**|220|(95)|97|80|





|26.|**RECONCILIATION OF NET INCOMING RESOURCES TO NET **|**RECONCILIATION OF NET INCOMING RESOURCES TO NET **|**RECONCILIATION OF NET INCOMING RESOURCES TO NET **|**CASH**||||||
|---|---|---|---|---|---|---|---|---|---|
||**INFLOW FROM OPERATIONS**|||||||||
|||||||**2021**|2020|_i_|_·_|
|||||||£|£|||
||**Net income for the period (as per the Statement **||**of Financial**|**454,496**|||(34,699)|||
||**Activities)**|||||||||
||**Adjustments for**|||||||||
||Depreciation charges|||**2,134,694**|||1,878,068|||
||(Gains)/losses on investments|||**(260,148)**|||62,585|||
||Dividends, interest and rents from investments|||**(12,780)**|||(17,916)|||
||Financing costs|||**536,020**|||543,032|||
||Loss/(profit) on thesale offixed assets|||**(10,400)**|||(2,078)|||
||Defined benefitpension scheme||||**12,000**||406,000|||
||(lncrease)/decrease in stocks|||**(29,995)**|||119,064|||
||(lncrease)/decrease in debtors|||**509,687**|||(266,900)|||
||lncrease/(decrease) in creditors|||**(50,341)**|||216,843|||
||**Net cash provided by (used in) operating activities**|||**3,283,233**|||2,903,999|||
|27.|**ANALYSIS OF CASH AND CASH EQUIVALENTS**|||||||||
|||||||**2021**|2020|||
|||||||£|£|||
||Cash in hand and at bank|||**4,222,618**|||1,803,028|||
||Other loans|||||||||
||Overdraftfacilities repayable on demand|||||||||
||**Total cash and cash equivalents**|||**4,222,618**|||1,803,028|||
|28.|**ANALYSIS OF CHANGES IN NET DEBT**|||||||||
||**At 1 Sept**<br>**Cash flows**<br>**Other non-cash**|||||**At 31 Aug**||||
||**2020**|||**changes**|||**2021**|||
||£||£|£|||£|||
|**Cash **|**and cash equivalents**|||||||||
|Cash|1,803,025|2,419,593||||4,222,618||||
|Overdrafts||||||||||
|Cash|equivalents|||||||||
||1,803,025|2,419,593||||4,222,618||||
|**Borrowings**||||||||||
|Debtdue within one year<br>(192,192)||(14,497)|||||(206,689)|||
|Debtdue after one year<br>(7,455,126)||(933,218)||||(8,388,344)||||
||**(7,647,318)**|**(947,715)**||||**(8,595,033)**||||
|**Total**|**(5,844,293)**|**1,471,878**||||**(4,372,415)**||||





## 



## 

|30.|**Consolidated Statement of **|**Financial Activities -- Comparative **|**Financial Activities -- Comparative **|**figures by fund **|**type**|
|---|---|---|---|---|---|
||**Year Ended 31 August**|Unrestricted|Restricted|Endowed|**Total**|
||**2020**|||||
|||£|£|£|£|
||**Income and endowments**|||||
||**from Charitable activities**|||||
||School fees receivable|19,264,438|||**19,264,438**|
||Ancillary trading income|887,460|||**887,460**|
||**Other trading activities**|||||
||Non-ancillary trading income|768,161|||**768,161**|
||OtherActivities|4,508|||**4,508**|
||**Investments**|||||
||Bankand other interest|4,624|13,292||**17,916**|
||**Voluntary sources**|||||
||Grants and donations|1,596,424|110,625||**1,707,049**|
||Other Income|2,078|||**2,078**|
||**Other incoming resources**|||||
||**Total Incoming Resources**|22,527,693|123,917||**22,651,610**|
||**Expenditure on:**|||||
||**Raising funds**|||||
||Non ancillary trading|923,874|||**923,874**|
||Other income generating|||||
||activities:|||||
||Financing costs|543,032|||**543,032**|
||Investment management|||||
||Fundraising and|80,392|||**80,392**|
||development|||||
||**Total Deductible Costs**|1,547,298|||**1,547,298**|
||**Charitable activities**|||||
||Education and grant making|21,026,646|49,780||**21,076,426**|
||**Total resources expended**|22,573,944|49,780||**22,623,724**|
||Net gains/(losses) on|(61,205)||(1,380)|**(62,585)**|
||investment assets|||||
||**Net income/(expenditure)**|(107,456)|74,137|(1,380)|**(34,699)**|
||Transfers between funds|||||
||**Other recognised**|||||
||**gains/(losses)**|||||
||Pension schemeactuarial|406,000|||**406,000**|
||gains/(losses)|||||
||**Net movement in funds for**<br>**the year**|298,544|74,137|(1380)|**371,301**|
||Fund balances at 1°|15,564,734|539,825|270,046|**16,374,605**|
||September|||||
||**Fund Balances at 31°**<br>**August**|15,863,278|613,962|268,666|**16,745,906**|





## 

## 

## 

## 

##