||**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,|<br>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 UK**AuditLLP||
||ThePortlandBuilding||
||25High Street||
||Crawley||
||RH101BG||
|**Bankers **|BarclaysBankpic||
||1ChurchillPlace||
||CanaryWharf||
||London||
||E145HP||





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||**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 **|



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|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|



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## 

|||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|forissuebytheBoard**7**||<br>November2020||
|and signedonitsbehalfby**MR **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 **|





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|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|





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## 

|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|<br>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<br>-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**|<br>53,765|
|Within|1to2years|**53,765**|<br>53,765|
|Within|2to5years|**161,295**|<br>215,060|
|||**268,825**|<br>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)|<br>(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 **|<br>2,250,306|
||**Adjustments for **|||||
||Depreciationoftangiblefixedassets|||**1,043,174 **|<br>872,727|
||Loss/(profit)onsaleoffixedassets|||**(13,997) **|<br>1,312|
||(Gain)/losses oninvestments|||**71,080 **|<br>22,103|
||Interestreceivable|||**(105,968) **|<br>(124,711)|
||Interestpayable|||**295,690 **|<br>209,946|
||(lncrease)/decreaseinstocks|||**(27,315) **|<br>32,775|
||(lncrease)/decreasein debtors|||**26,069 **|<br>201,465|
||lncrease/(decrease)increditors|||**(1,541,125) **|<br>1,096,433|
||**Net cash provided by (used in) operating activities **|||**1,133,955 **|<br>4,562,356|
|**30 **|**ANALYSIS OF CASH AND CASH EQUIVALENTS **|||||
|||||**2020 **|2019|
|||||£|£|
||Cashinhandandatbank|||**10,602,010 **|<br>10,263,649|
||Totalcashandcashequivalents|||**10,602,010 **|<br>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<br>Year2<br>Year3<br>Year4<br>Year5<br>Year6<br>Year7|**53,975 **<br>**55,595 **<br>**57,263 **<br>**58,980 **<br>**25,000 **|52,000<br>54,000<br>56,000<br>57,000<br>59,000<br>25,000|
||**250,813 **|303,000|





## 

## 



## 


|**34 **|<br>**Consolidated Statement of Financial Activities - Comparative figuresby fund type **|<br>**Consolidated Statement of Financial Activities - Comparative figuresby fund type **|<br>**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 **|





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