2020-08-31-accounts

	**Page **
Companyinformation	1-2
Directors'report,StrategicreportandtheDirectors'	3-37
responsibility statement
Independentauditor'sreport	38--41
Consolidatedstatementoffinancialactivities	42
Companystatementoffinancialactivities	43
ConsolidatedandCompanyBalanceSheet.	44
NotestothefinancialstatementsoftheCompany	45-74

**Governors **	MRSlumbers(Chairman,31August2019)	MRSlumbers(Chairman,31August2019)
	MrsA-MEdgell(DeputyChairNovember2019)
	DEAustin
	RCrawfordClarke(appointed27November2019)
	BaronessJCumberlege
	CFDennis
	ProfMJGFarthing
	DrSGodward
	TJPHancock
	JBHiggo
	MrsCHouston
	HCRLawson
	MrsHSO'Sullivan
	RHStapleton (resigned30June 2020)
**Ex-Officio Provost **	TheRtRevdCJMeyrick,	BishopofLynn
**Secretaryand Clerk **	MrsTJones(resigned 31	August2019)
	MrsHBetts(appointed1September2019)
**Charity No. **	1076483
**CompanyNo. **	03779985
**Principal address and Registered Office **	LancingCollege
	Lancing
	WestSussex
	BN150RW
**Head **	DTOliver
**Bursar **	MBMillingCA
**Auditors **	RSM UKAuditLLP
	ThePortlandBuilding
	25High Street
	Crawley
	RH101BG
**Bankers **	BarclaysBankpic
	1ChurchillPlace
	CanaryWharf
	London
	E145HP

	**2019/20 **		**2018/19 **
Seniorschool	605		585
HovePrep	146		145
HovePre-Prep	130		125
WorthingPrep	110		107
WorthingPre-
Prep	90		89
**Total **	**1,081 **		**1,051 **
	2019/20		**2018/19 **
	Boys	Girls	Boys	Girls
Seniorschool	348	257	351	234
HovePrep	103	43	103	42
HovePre-Prep	72	58	82	43
WorthingPrep	57	53	63	**44 **
WorthingPre-
Prep	41	49	41	48
**Total **	**621 **	**460 **	**640 **	**411 **

MRSlumbers(Chairman)	Finance andGeneralPurposes
	MembershipandNominations
	Education
	Investment
DEAustin	GovernorsandStaffLiaison
	(Chair)
	DesignatedHealthandSafety
	Governor
BaronessCumberlege
RCrawfordClarke	FinanceandGeneralPurposes
CFDennis	Education(Chair)
MrsA-MEdgell(Vice-Chairman)	DesignatedChildProtection
	Governor
	GovernorsandStaffLiaison
	Education
ProfMJGFarthing
DrSGodward	DesignatedEYFSGovernor
TJPHancock	FinanceandGeneralPurposes
	(Chair)
	Investment
JBHiggo
MrsC Houston	FinanceandGeneralPurposes
HCRLawson
MrsHSO'Sullivan	Finance andGeneralPurposes
MRSlumbers(ViceChairman)	Membership andNominations
	Investment
RHStapleton	FinanceandGeneralPurposes

		Unrestricted	Restricted	Endowed	**Total **	Total
	Notes	Funds	Funds	Funds	**2020 **	2019
		£	£	£	£	£
**Income and endowments from: **
**Income from Charitable Activities **
Schoolfeesreceivable	2	20,203,949			**20,203,949 **	20,898,210
Ancillary tradingincome	3	395,602	44,100		**439,702 **	522,698
**Other trading activities **
Non-ancillarytradingincome	4	406,610			**406,610 **	1,199,750
**Investments **
Investmentincome	5	28,576			28,576	34,839
Bankand otherinterest	6	22,369	4,337	50,686	**77,392 **	89,872
**Other - Grants and donations **
Grantsand donations	7	897,324	440,413		**1,337,737 **	757,292
**TOTAL INCOME **		21,954,430	488,850	50,686	**22,493,966 **	23,502,661
**Expenditure on: **
**Raising funds **
Non-ancillarytrading	8	399,973			**399,973 **	599,467
Financingcosts	8/9	295,690			**295,690 **	209,946
Investmentmanagement	8	4,923			**4,923 **	5,038
Fundraisinganddevelopment	8	200,475			200,475	203,694
Othercosts	8	(9,830)			**(9,830) **	1,412
**TOTAL RAISING FUNDS **		891,231			**891,231 **	1,019,557
**Charitable Activities **
Educationandgrantmaking	8	19,650,335	445,544	49,429	**20,145,308 **	20,210,695
**TOTAL EXPENDITURE **	8	20,541,566	445,544	49,429	**21,036,539 **	21,230,252
**Net income and expenditure before **
**transfers **		1,412,864	43,306	1,257	**1,457,427 **	2,272,409
Realised gains/(losses)on
investmentassets	14	4,440			**4,440 **	4,003
Unrealised gains/(losses)on
investmentassets	14	(75,520)			**(75,520) **	(26,106)
**Net income/(expenditure) **		1,341,784	43,306	1,257	**1,386,347 **	2,250,306
Transfersbetweenfunds
**NET MOVEMENT IN FUNDS **		1,341,784	43,306	1,257	**1,386,347 **	2,250,306
Fundbalancesat1September2019		12,061,018	1,415,992	1,996,913	**15,473,923 **	13,223,617
**FUND BALANCES AS AT 31 AUGUST2020 **		**13,402,802 **	1,459,298	**1,998,170 **	**16,860,270 **	15,473,923

		Unrestricted	Restricted	Endowed	**Total **	Total
	Notes	Funds	Funds	Funds	2020	2019
		£	£	£	£	£
**Income and endowments from: **
**Income from Charitable Activities **
Schoolfeesreceivable	2	18,663,918			**18,663,918 **	19,335,496
Ancillarytradingincome	3	373,767	44,100		**417,867 **	493,779
**Other trading activities **
Non-ancillary tradingincome	4	46,666			**46,666 **	593,439
**Investments **
Investmentincome	5	28,576			**28,576 **	34,839
Bankand otherinterest	6	22,369	4,337	50,686	**77,392 **	89,872
**Other - Grants and donations **
Grantsand donations	7	775,553	440,413		**1,215,966 **	757,292
**TOTAL INCOME **		19,910,849	488,850	50,686	**20,450,385 **	21,304,717
**Expenditure on: **
**Raising funds **
Financingcosts	8/9	289,967			**289,967 **	203,889
Investmentmanagement	8	4,923			**4,923 **	5,038
Fundraisinganddevelopment	8	200,475			**200,475 **	203,694
Othercosts	8	(9,830)			**(9,830) **	1,312
**TOTAL RAISING FUNDS **		485,535			**485,535 **	413,933
**Charitable Activities **
Educationand grantmaking	8	17,996,106	445,544	49,429	**18,491,079 **	18,540,463
**TOTAL EXPENDITURE **	8	18,481,641	445,544	49,429	**18,976,614 **	18,954,396
Netincome**andexpenditure before **
**transfers **		1,429,208	43,306	1,257	**1,473,771 **	2,350,321
Realisedgains/(losses)on
investmentassets	14	4,440			**4,440 **	4,003
Unrealised gains/(losses)on
investmentassets	14	(75,520)			**(75,520) **	(26,106)
**Netincome/(expenditure) **		**1,358,128 **	**43,306 **	**1,257 **	**1,402,691 **	2,328,218
Transfersbetweenfunds
**NET MOVEMENT IN FUNDS **		1,358,128	43,306	1,257	**1,402,691 **	2,328,218
Fundbalancesat1September2019		13,947,818	1,415,992	1,996,913	**17,360,723 **	15,032,505
FUND BALANCES AS AT 31 AUGUST 2020		**15,305,946 **	**1,459,298 **	**1,998,170 **	**18,763,414 **	17,360,723

		Group		**Company **	**Company **
	Notes	**2020 **	2019	**2020 **	2019
		£	£	£	£
**FIXED ASSETS **
Tangibleassets	13	**21,425,927 **	22,141,964	21,013,706	21,690,621
Investments	14	**1,081,452 **	1,128,879	**1,081,554 **	1,128,981
		**22,507,379 **	23,270,843	22,095,260	22,819,602
**CURRENT ASSETS **
Stocks		**184,777 **	157,462	**54,098 **	50,854
Debtors	15	**782,720 **	808,789	**2,897,193 **	3,511,168
Cash	16	**10,602,010 **	10,263,649	**10,512,087 **	9,519,070
		**11,569,507 **	11,229,900	**13,463,378 **	13,081,092
CURRENT LIABILITES
Creditorspayablewithin oneyear	17	**(8,249,376) **	(9,593,461)	**(7,827,984) **	(9,106,612)
**NETCURRENT(LIABILITIES)/ASSETS **		**3,320,131 **	1,636,439	**5,635,394 **	3,974,480
**TOTAL ASSETS LESS CURRENT **
**LIABILITIES **		**25,827,510 **	24,907,282	**27,730,654 **	26,794,082
**LONG TERM LIABILITIES **
Creditorspayableafteroneyear	18	**(8,719,350) **	(9,138,259)	**(8,719,350) **	(9,138,259)
Provisionforliabilities	30	**(247,790) **	(295,000)	**(247,790) **	(295,000)
**TOTAL NETASSETS **		**16,860,370 **	15,474,023	**18,763,514 **	17,360,823
**REPRESENTED BY: **
**CAPITAL AND RESERVES **
Calledupsharecapital	23	**100 **	100	**100 **	100
**FUNDS **
Endowedfunds	24	**1,998,170 **	1,996,913	**1,998,170 **	1,996,913
Restrictedfunds	25	**1,459,298 **	1,415,992	1,459,298	1,415,992
Unrestrictedfunds:
Generalreserve	26	**13,402,802 **	12,061,018	**15,305,946 **	13,947,818
**EQUITY SHAREHOLDERS' FUNDS **		**16,860,370 **	15,474,023	**18,763,514 **	17,360,823
The financialstatementswere approved and	authorised	forissuebytheBoard7		November2020
and signedonitsbehalfbyMR Slumbers

	Notes	**2020 **	2019
		£	£
**CASH FLOWS FROM OPERATING ACTIVITIES **
Netcashprovidedby(usedin)operatingactivities	29	**1,133,955 **	4,562,356
		**1,133,955 **	4,562,356
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends,interestandrentfrominvestments		**105,968 **	124,711
Proceedsfromsale ofproperty,plantandequipment		**23,006 **	1O,106
Purchaseofproperty,plantandequipment		**(336,146) **	(1,267,729)
Proceedsfromsaleofinvestments
Purchase ofinvestments		**(23,653) **	(29,801)
Netcashprovidedby(usedin)investing activities		**(230,825) **	(1,162,713)
CASH FLOWS FROM FINANCING ACTIVITIES
Repaymentofborrowing		**(269,079) **	(372,404)
Financingcosts		**(295,690) **	(209,946)
Net cashprovided by(usedin)financingactivities		**(564,769) **	(582,350)
**CHANGE IN CASH ANDCASH EQUIVALENTS IN THE YEAR **		**338,361 **	2,817,293
CASHANDCASHEQUIVALENTSATTHEBEGINNINGOFTHEYEAR		**10,263,649 **	7,446,356
**CASH ANDCASH EQUIVALENTS AT THE END OF THE YEAR **	30	**10,602,010 **	**10,263,649 **

Freeholdlandisnotdepreciated
Freehold buildings	-Variableaccordingtothebuildingandwrittenoffover the
	expecteduseful life
Freeholdimprovements	-Overtheusefuleconomiclife oftheimprovement
Leaseholdland	-Overtheshorteroftheeconomiclifeoftheasset orthelife
	ofthelease
Computerequipment	-25%oncost
Fixtures andfittings	-between4%and 25%oncost
Motor vehicles	-25%oncost

TheSchoolfeesincomecomprises:
	**Group **	**Company **	Group	Company
	2020	**2020 **	2019	2019
	£	£	£	£
Grossfees	**22,721,205 **	**20,857,588 **	23,773,853	21,822,275
Less:Totalscholarships,bursaries,etc.	**(2,854,964) **	**(2,531,378) **	(3,115,024)	(2,726,160)
	**19,866,241 **	**18,326,210 **	20,658,829	19,096,115
Add backScholarships,Bursaries,Grants
etc.paidforby:
EndowedFunds	49,430	49,430	50,661	50,661
TheLancingCollegeFoundation:
RestrictedFunds	**288,278 **	**288,278 **	138,719	138,719
GeneralFunds			50,001	50,001
	**20,203,949 **	**18,663,918 **	20,898,210	19,335,496

**Unrestricted **	Group	**Company **	Group	Company
	2020	**2020 **	2019	2019
	£	£	£	£
Extras	**246,808 **	**237,559 **	333,375	323,647
Entrancefeesandregistrationfees	**105,384 **	**103,134 **	91,015	88,365
Commissions	**14,544 **	**14,544 **	21,729	21,729
Otherincome	**28,866 **	**18,530 **	34,579	18,038
	**395,602 **	**373,767 **	480,698	451,779
**Restricted **	**Group **	**Company **	Group	Company
	**2020 **	**2020 **	2019	2019
	£	£	£	£
ContributionstotheChapelMaintenanceFund	**44,100 **	**44,100 **	42,000	42,000
**Total **	**439,702 **	417,867	522,698	493,779

**2020 **	**2019 **
£	£

Turnover	**691,253 **	1,455,965
Costofsales	**(647,346) **	(914,380)
Grossprofit	**43,907 **	541,585
Administration	**(34,519) **	(10,865)
Operating profit	**9,388 **	530,720
Gift Aid donation	**(8,617) **	(525,000)
Retained profit	**771 **	5,720

**Non-ancillaryTrading Income **
		Group	**Company **	Group	Company
		**2020 **	2020	2019	2019
		£	£	£	£
**Non-ancillarytrading income **
BuxbrassLimited		691,253	**17,955 **	1,455,965	547,233
Less:Income eliminatedonconsolidation		**(272,554) **		(303,545)
Less:GrantsandDonations-Government	CJRS	**(40,985) **
BuxbrassLimited		**377,714 **	**17,955 **	1,152,420	547,233
**Other activities **
Rentsreceivable		**24,153 **	**23,968 **	27,540	27,540
Interestonoverduefees		**4,743 **	**4,743 **	19,260	18,666
other				530
		**406,610 **	**46,666 **	1,199,750	593,439

	2020	2019
	£	£
**Income from Charitable Activities **
Schoolfees	**1,540,032 **	1,562,713
Ancillarytradingincome	**21,835 **	28,920
Non-ancillarytradingincome	**185 **	1,024
GrantsandDonations-GovernmentCJRS	**80,787 **
**TOTAL INCOME **	**1,642,839 **	1,592,657
**EXPENDITURE **
Educationand grantmaking	**(1,659,952) **	(1,676,290)
Deficit for the year	**(17,113) **	(83,633)

	**Groupand **	**Company **
Unrestricted	2020	2019
	£	£
**Securities Investment Income **
Equities	**28,576 **	34,839

	Unrestricted	Restricted	Endowed	**Groupand **	**Company **
				**2020 **	2019
	£	£	£	£	£
Bankinterest	22,369	4,337	1,256	**27,962 **	39,211
Otherinterest			49,430	**49,430 **	50,661
	22,369	4,337	50,686	**77,392 **	89,872

	**Group **	**Company **	Group	Company
	**2020 **	**2020 **	2019	2019
	£	£	£	£
**Restricted: **
OtherDonations	**440,413 **	**440,413 **	702,439	702,439
**Unrestricted: **
GovernmentGrants-CJRS	**885,567 **	**763,796 **
OtherDonations	**11,757 **	**11,757 **	54,853	54,853
	**1,337,737 **	**1,215,966 **	757,292	757,292

**a) **	**Total expenditure **	Staffcosts	Supportcosts	Depreciation	Depreciation	**Total 2020 **	Total2019
		(note10)		(note	13)
		£	£	£		£	£
	**Costs of raising funds **
	Fundraisinganddevelopment	169,571	30,904			**200,475 **	203,694
	Financingcosts(note 9)		289,967			289,967	203,889
	Investmentmanagement		4,923			**4,923 **	5,038
	Profitondisposalofasset		(9,830)			**(9,830) **	1,312
	Total forCompany	169,571	315,964			485,535	413,933
	Financecostsofsubsidiary		5,723			**5,723 **	6,057
	Lossondisposalofinvestment						100
	Nonancillarytradingcostsof	169,368	223,956		6,649	**399,973 **	599,467
	subsidiaries
	Total for Group	338,939	545,643		6,649	**891,231 **	1,019,557
	**Charitable expenditure **
	Teaching	7,944,745	1,002,228	369,661		9,316,634	9,142,286
	Welfare	1,394,518	733,852		19,311	**2,147,681 **	2,337,622
	Premises	941,464	2,729,824	615,081		**4,286,369 **	4,334,020
	Schooladministration and	1,302,515	984,114			**2,286,629 **	2,542,600
	governance
	Grantsawardsand prizes		6,003			**6,003 **	5,007
	Movementinpensionrecovery	(47,210)				**(47,210) **	(64,000)
	plan(note 32)
	Schoolcharitableexpenditure	11,536,032	5,456,021	1,004,053		**17,996,106 **	18,297,535
	Expenditurefromotherfunds:
	Restricted		445,544			**445,544 **	192,267
	Endowment		49,429			**49,429 **	50,661
	Total forCompany	11,536,032	5,950,994	1,004,053		**18,491,079 **	18,540,463
	Total for Subsidiary	1,332,212	289,544		32,473	**1,654,229 **	1,670,232
	**Total forGroup **	12,868,244	6,240,538	1,036,526		**20,145,308 **	20,210,695
	**Total resources expended **
	-Company	**11,705,603 **	**6,266,958 **	**1,004,053 **		**18,976,614 **	18,954,396
	**-Group **	**13,207,183 **	**6,786,181 **	**1,043,175 **		**21,036,539 **	21,230,252

**b) **	Grants and prizes	**Group and **	**Company **
		**2020 **	2019
		£	£
	Prizesandleavingawards	**6,003 **	5,007

atotalof£1,850).
			2020	2019
**Company: **			£	£
Remuneration paidto auditorforauditservices			**14,662 **	20,361
ReimbursementofpersonalexpensestoGovernors			**908 **	1,850
OtherGovernancecosts			**124,898 **	150,656
			**140,468 **	172,867
			**2020 **	2019
**Group: **			£	£
Remunerationpaid to auditorforauditservices			**21,892 **	27,381
ReimbursementofpersonalexpensestoGovernors			**908 **	1,850
OtherGovernancecosts			126,785	180,948
			**149,585 **	210,179
**FINANCING COSTS **
	**Group **	**Company **	Group	Company
	**2020 **	**2020 **	2019	2019
	£	£	£	£
FeesinAdvance debtfinancingcosts	35,477	**35,023 **	38,878	37,421
Leasefinancecosts	**11,803 **	11,803	9,856	9,856
Bankinterestpayable	144,494	144,494	166,441	166,441
Provisionforbadanddoubtfuldebts	**103,916 **	**98,647 **	(5,229)	(9,829)
	295,690	**289,967 **	209,946	203,889

**STAFF COSTS **
	Group	**Company **	Group	Company
	2020	2020	2019	2019
	£	£	£	£
**Total staffcosts comprises: **
Wagesand salaries	10,624,089	9,412,280	10,653,028	9,559,831
Socialsecuritycosts	**1,061,517 **	**954,149 **	1,076,203	976,304
Pensioncontributions	1,521,577	**1,339,174 **	1,121,660	991,457
	**13,207,183 **	**11,705,603 **	12,850,891	11,527,592

	**2020 **	2019
Aggregateemployeebenefitsofkeypersonnel(TheHead andBursar)	366,224	384,542

	Group		**Company **	Group	Company
	2020		2020	2019	2019
	**Number **		Number	Number	Number
Teaching		**157 **	**126 **	149	119
Others		**243 **	**223 **	224	207
		**400 **	**349 **	373	326

	**Group **		**Company **		Group		Company
	2020		**2020 **		2019		2019
	**Number **		Number		Number		Number
£60,001-£70,000		9		9		12		12
£70,001-£80,000		5		5		5		5
£80,001-£90,000		2		1		3		2
£90,001-£100,000		1		1
£100,001-£110,000		1		1
£110,001-£120,000
£120,001-£130,000
£170,001-£180,000		1		1
£190,001-£200,000

**13 **	**TANGIBLE FIXED ASSETS **
	**Company **	**Landand **	**Freehold **	**Motor **	**Computer **	**Fittings and **	**Company **
		**Buildings **	**Improvements **	**Vehicles **	Equipment	**Equipment **	**Total **
		**Freehold **
		£	£	£	£	£	£
	**Cost **
	At1September2019	19,553,317	1,054,122	69,328	1,800,328	4,769,693	27,246,788
	Additions	30,153	8,165		238,434	59,394	336,146
	Disposals				(37,297)	(20,637)	(57,934)
	**As 31 August 2020 **	**19,583,470 **	1,062,287	**69,328 **	2,001,465	**4,808,450 **	**27,525,000 **
	**Depreciation **
	At1September2019	1,252,723	301,368	56,788	1,142,909	2,802,379	5,556,167
	Chargefortheyear	341,720	49,932	4,560	303,623	304,217	1,004,052
	Ondisposals				(28,288)	(20,637)	(48,925)
	At 31 August 2020	**1,594,443 **	**351,300 **	**61,348 **	1,418,244	**3,085,959 **	6,511,294
	**Net book value **
	at 31 August 2020	**17,989,027 **	710,987	**7,980 **	**583,221 **	**1,722,491 **	21,013,706
	Netbook value
	at 31August2019	18,300,594	752,754	12,540	657,419	1,967,314	21,690,621
	Group	**Company **	Land and	**Under **	**Computer **	**Fittings and **	Group
		**Total **	**Buildings **	**Construction **	**Equipment **	**Equipment **	**Total **
			Short
			**Leasehold **
	**Cost **	£	£	£	£	£	£
	At1September2019	27,246,788	182,619	10,266	96,884	560,929	28,097,486
	Additions	336,146					336,146
	Disposals	(57,934)				(16,790)	(74,724)
	**As 31 August 2020 **	**27,525,000 **	**182,619 **	**10,266 **	96,884	**544,139 **	**28,358,908 **
	**Depreciation **
	At1September2019	5,556,167	33,107		91,276	274,972	5,955,522
	Chargefortheyear	1,004,052	8,211		2,335	28,576	1,043,174
	On disposals	(48,925)				(16,790)	(65,715)
	At 31 August 2020	6,511,294	**41,318 **		**93,611 **	**286,758 **	**6,932,981 **
	**Net book value **
	at 31 August 2020	**21,013,706 **	**141,301 **	**10,266 **	3,273	**257,381 **	**21,425,927 **
	Netbookvalue
	at 31August2019	21,690,621	149,512	10,266	5,608	285,957	22,141,964

**INVESTMENTS **
	**2020 **	2019
**Unrestricted **	£	£
GroupInvestments as at 1 September	1,128,879	1,121,181
Reinvestedincome	28,576	34,839
Investmentmanagementfee	**(4,923) **	(5,038)
Realised gains oninvestments	**4,440 **	4,003
Unrealisedgainsininvestments	**(75,520) **	(26,106)
Closingmarketvalue	**1,081,452 **	1,128,879
**GroupInvestments at 31 August **	**1,081,452 **	1,128,879
**Investments in subsidiaries **	**102 **	102
**Company investments at 31 August **	1,081,554	1,128,981
**Investments comprise: **
**Listed investments **
FixedInterest	209,218	199,612
Equities	665,020	633,621
	**874,238 **	833,233
**Alternative investments **
Hedgefunds
Private equity
Commercialpropertyfunds
Preferenceshares	40,519	42,075
Other	152,298	221,355
	**192,817 **	263,430
**Cash **	**14,397 **	32,216
**GroupInvestments at 31 August **	**1,081,452 **	1,128,879
**Investments in subsidiaries **	**102 **	102
**Company investments at 31 August **	1,081,554	1,128,981
**Holdingsat the year-endcomprising more than 5% of the total are: **	£
VanguardInvestmentSeriesUSGovtBd	59,889
FundsmithLLP EquityIFund	58,042

	**2020 **		2019
**Investments in subsidiaries comprise: **	£		£
Investmentinsubsidiarytradingcompany-BuxbrassLtd		2		2
InvestmentinLancingCollegePrepSchoolatWorthingLtd		**100 **		100
		**102 **		102

**DEBTORS **
	Group		**Company **
	2020	2019	**2020 **	2019
	£	£	£	£
Feedebtors	**150,500 **	224,133	**149,547 **	200,977
Tradedebtors	**2,176 **	126,915
Amountsowed bygroupundertakings	**396 **	5,177	2,174,929	2,877,023
Otherdebtors	**169,928 **	46,092	**169,928 **	46,093
Prepaymentsandaccruedincome	**456,617 **	406,472	**402,789 **	387,075
Taxrecoverable	**3,103 **
	**782,720 **	808,789	**2,897,193 **	3,511,168
**CASHATBANKBYFUND **
	**Group **		**Company **
	2020	2019	**2020 **	2019
	£	£	£	£
Restricted	**1,563,045 **	1,364,728	**1,563,045 **	1,364,728
Unrestricted	**8,843,350 **	8,704,562	**8,753,427 **	7,959,983
Endowed	**195,615 **	194,359	**195,615 **	194,359
	**10,602,010 **	10,263,649	**10,512,087 **	9,519,070

	**Group **		**Company **
	**2020 **	2019	**2020 **	2019
	£	£	£	£
Bankloansandoverdrafts(note19)	203,333	406,666	**203,333 **	406,666
Netobligationsunderfinanceleases(Note21)	92,484	65,042	92,484	65,042
Deferredconsiderationoffreeholdofthe	**64,127 **	65,745	**64,127 **	65,745
PrepSchoolHove
Tradecreditors	**665,952 **	490,336	**577,502 **	396,084
Amountsowingto groupundertakings	**164 **		**164 **
Taxesandsocialsecuritycosts	226,088	269,702	**226,088 **	242,924
Advancefees(note 20)	**527,340 **	473,133	**527,340 **	473,133
Othercreditors	**86,119 **	221,663	64,674	213,231
Accruals	**827,642 **	924,304	775,037	867,856
Finaltermdeposits	**717,815 **	738,971	686,265	708,321
Deferredincome -feesreceivedin advance	**4,838,312 **	5,937,899	**4,610,970 **	5,667,610
	8,249,376	9,593,461	7,827,984	9,106,612

	Group		**Company **
	2020	2019	**2020 **	2019
	£	£	£	£
BankLoans(note19)	5,388,334	5,388,334	5,388,334	5,388,334
Netobligationsunderfinanceleases	**113,572 **	79,386	**113,572 **	79,386
(note21)
Finaltermdeposits	**2,226,352 **	2,279,393	**2,226,352 **	2,279,393
Advancefees(note 20)	**793,381 **	1,129,307	**793,381 **	1,129,307
Deferredconsiderationoffreeholdofthe	**197,711 **	261,839	**197,711 **	261,839
PrepSchoolHove
	**8,719,350 **	9,138,259	**8,719,350 **	9,138,259

**BANK LOAN **
	**Group and **	**Company **
	**2020 **	2019
	£	£
DueAfter5years	**3,761,670 **	3,761,670
Duewithin2to5years	**1,219,998 **	1,219,998
Duewithin1to2years	**406,666 **	406,666
Dueaftermorethan1year	**5,388,334 **	5,388,334
Duewithin1year	**203,333 **	406,666
	**5,591,667 **	5,795,000

beappliedasfollows:
	**Group **		**Company **
	2020	2019	2020	2019
	£	£	£	£
After5years	**175,824 **	203,689	**175,824 **	203,689
Within2to5years	**264,357 **	545,673	**264,357 **	545,673
Within1to2years	**353,200 **	379,943	**353,200 **	379,943
	**793,381 **	1,129,305	**793,381 **	1,129,305
Within1year	**527,340 **	473,133	**527,340 **	473,133
	**1,320,721 **	1,602,438	**1,320,721 **	1,602,438

	Group		**Company **
	**2020 **	2019	**2020 **	2019
		£	£	£
Liabilitiesat1September	1,602,436	1,433,546	**1,602,436 **	1,397,542
Newcontracts	**223,493 **	623,831	**223,493 **	623,831
	1,825,929	2,057,377	**1,825,929 **	2,021,373
Amountsutilisedinpaymentoffees	**(450,750) **	(418,937)	**(450,750) **	(418,937)
Amountsrepaid	**(54,458) **	(36,004)	**(54,458) **
**Liabilities at 31 August **	**1,320,721 **	1,602,436	**1,320,721 **	1,602,436

**Group and **	**Company **
**2020 **	2019
£	£
**30,988 **	35,535
82,584	43,851
**113,572 **	79,386
92,484	65,042
206,056	144,428

		Land and	Buildings
		**2020 **	2019
		£	£
Expiry	date:
Within	oneyear	53,765	53,765
Within	1to2years	53,765	53,765
Within	2to5years	161,295	215,060
		268,825	322,590

**SHARE CAPITAL **
	**Group **	**and Company **
	**2020 **	2019
	£	£
**Authorised **
100Ordinarysharesof£1each		**100 **	100
**Allotted, called up and fullypaid **
100Ordinary sharesof£1each		**100 **	100

**Groupand Company **				Movementinfunds
	Balanceat1
	September			Investment		Balanceat31
	2019	Income	Expenditure	gains/(losses)	Transfer	August2020
	£	£	£	£	£	£
EndowedFunds	1,996,913	50,686	(49,429)			**1,998,170 **
Group and Company				Movementinfunds
	Balanceat1
	September			Investment		Balanceat31
	2018	Income	Expenditure	gains/(losses)	Transfer	August2019
	£	£	£	£	£	£
EndowedFunds	1,995,604	51,970	(50,661)			**1,996,913 **

				Movementinfunds
	Balance at1
	September			Investment		Balance at31
	2019	Income	Expenditure	gains/(losses)	Transfer	August 2020
	£	£	£	£	£	£
ChapelMaintenance	29,183	44,249	(67,444)			5,988
WoodardBenefitFund	293,883		(21,348)			272,535
AppealDonations	1,092,926	444,601	(356,752)			1,180,775
**Group and Company **	**1,415,992 **	**488,850 **	**(445,544) **			**1,459,298 **
				Movementinfunds
	Balanceat1
	September			Investment		Balanceat31
	2018	Income	Expenditure	gains/(losses)	Transfer	August2019
	£	£	£	£	£	£
ChapelMaintenance	11,971	42,184	(24,972)			29,183
WoodardBenefitFund		302,073	(8,190)			293,883
AppealDonations	846,464	405,567	(159,105)			1,092,926
Group and Company	**858,435 **	749,824	**(192,267) **			**1,415,992 **

				Movementinfunds
	Balance at1
	September			Investment		Balance at31
	2019	Income	Expenditure	gains/(losses)	Transfer	August2020
	£	£	£	£	£	£
**Designated Funds: **
Foundationaccount	1,319,187	41,021	(13,731)	(71,080)		**1,275,397 **
**Freereserves **	12,628,631	19,869,828	(18,467,910)			**14,030,549 **
**Company **	13,947,818	19,910,849	(18,481,641)	(71,080)		**15,305,946 **
Subsidiary
Prepschoolsubsidiary	(1,933,342)	1,642,839	(1,659,954)			**(1,950,457) **
Tradingsubsidiary	46,542	691,297	(690,526)			**47,313 **
Consolidationadjustments		(290,555)	290,555
Group	**12,061,018 **	21,954,430	**(20,541,566) **	**(71,080) **		**13,402,802 **
				Movementinfunds
	Balanceat1
	September			Investment		Balanceat31
	2018	Income	Expenditure	gains/(losses)	Transfer	August2019
	£	£	£	£	£	£
**Designated Funds: **
Foundation account	1,317,759	91,288	(67,757)	(22,103)		**1,319,187 **
**Freereserves **	10,860,707	20,411,635	(18,643,711)			**12,628,631 **
**Company **	12,178,466	20,502,923	(18,711,468)	(22,103)		**13,947,818 **
Subsidiary
Prepschoolsubsidiary	(1,849,710)	1,592,757	(1,676,389)			**(1,933,342) **
Tradingsubsidiary	40,822	1,455,965	(1,450,245)			**46,542 **
Consolidation adjustments		(850,778)	850,778
Group	**10,369,578 **	**22,700,867 **	**(20,987,324) **	**(22,103) **		**12,061,018 **

			Netcurrent	Longterm	**Total **
	Fixed assets	Investments	Assets/	Liabilities	2020
			(liabilities)
	£	£	£	£	£
**Share capital **			100		**100 **
**Endowed funds **			1,998,170		**1,998,170 **
**Restricted funds **			1,459,298		**1,459,298 **
**Unrestricted funds **	21,013,706	1,081,554	2,177,826	(8,967,140)	**15,305,946 **
**Company **	21,013,706	1,081,554	5,635,394	(8,967,140)	**18,763,514 **
Subsidiarycompanies(Note 31):
PrepschoolatWorthing	285,892	(100)	(2,236,247)		**(1,950,455) **
Buxbrass	126,329	(2)	(79,016)		**47,311 **
Group	**21,425,927 **	**1,081,452 **	**3,320,131 **	**(8,967,140) **	16,860,370
			Netcurrent	Longterm	**Total **
	Fixedassets	Investments	Assets/	Liabilities	**2019 **
			(Liabilities)
	£	£	£	£	£
**Share capital **			100		**100 **
**Endowed funds **			1,996,913		**1,996,913 **
**Restricted funds **			1,415,992		1,415,992
**Unrestricted funds **	21,690,621	1,128,981	561,475	(9,433,259)	**13,947,818 **
**Company **	21,690,621	1,128,981	3,974,480	(9,433,259)	**17,360,823 **
Subsidiarycompanies(Note31):
PrepschoolatWorthing	318,365	(100)	(2,251,605)		**(1,933,340) **
Buxbrass	132,978	(2)	(86,436)		**46,540 **
**Group **	22,141,964	**1,128,879 **	**1,636,439 **	**(9,433,259) **	**15,474,023 **

**29 **	**RECONCILIATION OF NETINCOMING RESOURCES TO NET CASH **	**RECONCILIATION OF NETINCOMING RESOURCES TO NET CASH **
	**INFLOW FROM OPERATIONS **			**Groupand **	Company
				**2020 **	2019
				£	£
	Netincomefor theyear			**1,386,347 **	2,250,306
	**Adjustments for **
	Depreciationoftangiblefixedassets			**1,043,174 **	872,727
	Loss/(profit)onsaleoffixedassets			**(13,997) **	1,312
	(Gain)/losses oninvestments			**71,080 **	22,103
	Interestreceivable			**(105,968) **	(124,711)
	Interestpayable			**295,690 **	209,946
	(lncrease)/decreaseinstocks			**(27,315) **	32,775
	(lncrease)/decreasein debtors			**26,069 **	201,465
	lncrease/(decrease)increditors			**(1,541,125) **	1,096,433
	**Net cash provided by (used in) operating activities **			**1,133,955 **	4,562,356
**30 **	**ANALYSIS OF CASH AND CASH EQUIVALENTS **
				**2020 **	2019
				£	£
	Cashinhandandatbank			**10,602,010 **	10,263,649
	Totalcashandcashequivalents			**10,602,010 **	10,263,649
**31 **	**ANALYSIS OF CHANGES IN NETDEBT **
		**Balanceat 31 **	Cashflows	Othernon-cash	**Balance at 31 **
		**August 2019 **		changes	**August 2020 **
		£	£	£	£
	**Cash and cash equivalents **
	Cash	**10,263,649 **	338,361		**10,602,010 **
		**10,263,649 **	338,361		**10,602,010 **
	**Borrowings **
	Debtduewithinoneyear	(472,411)	204,951		**(267,460) **
	Debtdueafteroneyear	**(5,650,173) **	64,127		**(5,586,046) **
		**(6,122,584) **	269,078		**(5,853,506) **
	**Total **	4,141,065	607,439		4,748,504

Summaryofprovisionforpensiondeficitrecoveryplan
	**Company **
	2020	2019
	**£'000 **	£'000
TPTRetirementSolutions-TheGrowthPlan	**248 **	295

**32 **	**PENSION SCHEMES (Continued) **
	**Present Values of Provision **	**2020 **	2019
		£	£
	Presentvalueofprovision	**247,790 **	295,000
	**Reconciliation of opening and closing provisions **	**2020 **	2019
		£	£
	Provisionat1September	**295,000 **	359,000
	Unwindingofthediscountfactor	**2,591 **	6,000
	Deficitcontributionpaid	**(52,403) **	(50,000)
	Remeasurements -impactofanychangein assumptions	**2,602 **	6,000
	Remeasurements-amendmentstothecontributionschedule		(26,000)
	**Provision at 31 August **	**247,790 **	295,000
	**Income and expenditure impact **	**2020 **	2019
		£	£
	Interestexpense-unwindingofthediscountfactor	**2,591 **	6,000
	Remeasurements-impactofany changeinassumptions	**2,602 **	6,000
	Remeasurements-amendmentstothecontributionschedule		(26,000)
	Costsrecognisedinincomeandexpenditureaccount
	**Assumptions **	**2020 **	2019
		%per	%per
		**annum **	annum
	Rate ofdiscount	**0.55 **	0.97

ateachyearend period:
	**2020 **	2019
	£	£
Year1 Year2 Year3 Year4 Year5 Year6 Year7	53,975 55,595 57,263 58,980 **25,000 **	52,000 54,000 56,000 57,000 59,000 25,000
	**250,813 **	303,000

**34 **	**Consolidated Statement of Financial Activities - Comparative figuresby fund type **	**Consolidated Statement of Financial Activities - Comparative figuresby fund type **	**Consolidated Statement of Financial Activities - Comparative figuresby fund type **
		Unrestricted	Restricted	Endowed	**Total **
	**Year ended 31 August 2019 **	Funds	Funds	Funds	**2019 **
		£	£	£	£
	**Income and endowments from: **
	**Income from Charitable Activities **
	Schoolfeesreceivable	19,335,496			19,335,496
	Ancillarytradingincome	451,779	42,000		**493,779 **
	**Other tradingactivities **
	Non-ancillarytradingincome	593,439			**593,439 **
	**Investments **
	Investmentincome	34,839			**34,839 **
	Bankandotherinterest	32,517	5,385	51,970	**89,872 **
	**Voluntarysources **
	Grantsand donations	54,853	702,439		**757,292 **
	TOTAL INCOMING RESOURCES	20,502,923	749,824	51,970	**21,304,717 **
	**Expenditure on: **
	**Raisingfunds **
	Financingcosts	203,889			**203,889 **
	Investmentmanagement	5,038			**5,038 **
	Fundraising and development	203,694			203,694
	Othercosts	1,312			**1,312 **
	**TOTAL DEDUCTIBLE COSTS **	413,933			**413,933 **
	**Charitable Activities **
	Educationand grantmaking	18,297,535	192,267	50,661	**18,540,463 **
	**TOTAL EXPENDITURE **	18,711,468	192,267	50,661	**18,954,396 **
	**Net income andexpenditure before **
	**transfers **	1,791,455	557,557	1,309	**2,350,321 **
	Realised gains/(losses)on
	investmentassets	4,003			4,003
	Unrealised gains/(losses)on
	investmentassets	(26,106)			(26,106)
	**Net income/(Expenditure) **	1,769,352	557,557	1,309	**2,328,218 **
	Transfersbetweenfunds
	NET MOVEMENT IN FUNDS	1,769,352	557,557	1,309	**2,328,218 **
	Fundbalancesat1September2018	12,178,466	858,435	1,995,604	**15,032,505 **
	**FUNDBALANCES AS AT 31 AUGUST 2019 **	13,947,818	1,415,992	1,996,913	**17,360,723 **