2020-08-31-accounts - Blundell's School

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			Page
Reference and Administrative		Details ofthe School, its Trustees and Advisers	1-2
Trustees' Report
Independent	Auditors' Report	on the Financial Statements	15-17
Consolidated	Statement ofFinancial Activities		18
Consolidated	Balance Sheet		19
School Balance Sheet			20
Consolidated	Statement ofCash Flows		21
Notes to the	Financial Statements		22-42

Trustees 5	Trustees 5	Directors	Mr C M Clapp, Chairt
			Dr SBAnsell2, 3
			Mr N Arnold1, 2,3,4
			Mr N Cryern3
			Mr N P Hall, Vice Chairt, za
			Mr G L Howen4
			Mr BJ Hurst-Bannister	(resigned		29 November	2019)1.4
			Mr P M Johnson (resigned		3 July	2020)us
			Mr M J Lovettt, 4
			Mrs M MacNeicexa, 4
			Mr J KMacPherson (resigned 29 November 2019)t2,3
			Mrs J M A Mannixt, &4
			Fr R Maudsleyz, s
			Rt Rev'd N H P McKinneh		3
			Mr RW Thanet, a,s
			Mr I R G Thomast, &
			Mrs JSThomson1, 3,4
			Dr M EWoods, 4
			' Finance and General ' Blundell's Preparatory ' Education Committee	Purposes Committee School Committee
			4 Governance Committee
Company	registered
number			04016403
Charity registered
number			1081249
Registered		office	Blundells Road
			Tiverton
			Devon
			EX164DN
Head			Mr BWielenga, BCom,	Natal & Johannesburg,			BEd
Company	secretary		Mrs A Hedrich-Wiggans,		MA (Cantab), MSt (Oxon), ACA
Independent		auditors	Bishop Fleming LLP
			Chartered Accountants
			Statutory Auditors
			2nd Floor Stratus House
			Emperor Way
			Exeter Business Park
			Exeter
			EX1 3QS

Bankers	Allied Irish Bank (GB)(to October 2020) 19Whiteladies Road
	Clifton
	Bristol
	BS61PB
	HSBC Bank Pic (from October 2020)
	Stratus House
	Emperor Way
	Exeter Business Park
	Exeter
	EX1 3QS
Solicitors	Hole &Pugsley
	6St Peter Street
	Tiverton
	Devon
	EX166NX
	Harrison Clark Rickerbys
	Ellenborough House
	Wellington Street
	Cheltenham
	GL50 1YD

			Endowment	Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds	funds
			2020	2020	2020	2020	2019
		Note	5000	6000	6000	6000	5000
INCOME AND
ENDOWMENTS
FROM:
Donations and legacies				574		574	1,400
Charitable activities				590	14,154	14,744	15,000
Other trading activities					222	222	192
Investments				40		43	21
TOTAL INCOME	AND
ENDOWMENTS			3	1,204	14,376	15,583	16,613
EXPENDITURE ON:
Raising funds					232	232	288
Chadtable activities:
Other charitable
activities				675	14,269	14,944	14,554
TOTAL
EXPENDITURE				675	14,501	15,176	14,822
Net gains/(losses)	on
investments				39	(2)	39	57
NET MOVEMENT	IN
FUNDS				568	(127)	446	1,848
RECONCILIATION	OF
FUNDS:
Total funds brought
forward			116	3,588	11,956	15,660	13,812
Net movement in funds			5	568	(127)	446	1,848
TOTAL FUNDS
CARRIED
FORWARD			121	4,156	11,829	16,106	15,860

	Restricted	Total	Total
	funds	funds	funds
	2020	2020	2019
	5000	5000	5000
Donations	9	9	49
Legacies	565	565	1,351
TOTAL 2020	574	574	1,400
TOTAL 2019	1,400	1,400

					Restricted	Unrestricted	Total	Total
					funds	funds	funds	funds
					2020	2020	2020	2019
					5000	EOOO	5000	FOOD
Gross Fees						16,947	16,947	17,794
Less: Total scholarships,		bursaries,		grants
and allowances						(2,793)	(2,793)	(2,804)
Add back: scholarships,		bursaries,		grants and
allowances	paid by Restricted		Funds		8		8	10
Furlough funding					582		582
TOTAL 2020					590	14,154	14,744	15,000
TOTAL 2019						15,000	15,000

Depreciation	is provided	the following	basis:
Freehold property			1%
Short-term leasehold		property
Plant	and machinery		10% or 25%for Computer	Equipment
Motor	vehicles		25%
Other	fixed assets		7%

				2020	2019
				6000	5000
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities				1,033	2,637
CASH FLOWS FRONI INVESTING	ACTIVITIES
Dividends and interest received from investments				43	21
Purchase oftangible fixed assets				(737)	(678)
Purchase ofinvestments				(1,187)
Interest paid on bank loans and overdraft				(58)	(149)
NET CASH USED IN INVESTING	ACTIVITIES			(1,939)	(806)
CASH FLOWS FROM FINANCING	ACTIVITIES
Cash inflows from new borrowing				415	495
Repayments of borrowing				(668)	(645)
NET CASH USED IN FINANCING	ACTIVITIES			(253)	(150)
CHANGE IN CASH AND CASH EQUIVALENTS		IN THE	YEAR	(1,159)	1,681
Cash and cash equivalents at the beginning ofthe year				2,841	1,160
CASH AND CASH EQUIVALENTS	AT THE END	OF THE YEAR		1,682	2,841
The Notes on pages 22 to42 form	part ofthese financial		statements

				2020		2019
		Note		8000		8000
FIXEDASSETS
Tangible assets		14		17,305		17,228
Investments		15		2,237		1,009
				19,542		18,237
CURRENT ASSETS
Stocks		16	172		169
Debtors		17	747		553
Cash at bank and	in hand		1,637		2,814
			2,556		3,536
Creditors: amounts	falling due within one
year		18	(4,484)		(3,881)
NET CURRENT LIABILITIES				(1,928)		(345)
TOTAL ASSETS	LESSCURRENT
LIABILITIES				17,614		17,892
Creditors: amounts	falling due after more
than one year		19		(1,536)		(2,254)
NET ASSETS EXCLUDING PENSION
ASSET				16,078		15,638
TOTAL NET ASSETS				16,078		15,838
CHARITYFUNDS
Endowment funds		21		121		116
Restricted funds		21		4,155		3,588
Unrestricted funds		21		11,802		11,934
TOTAL FUNDS				16,078		15,838

				2020		2019
		Note		6000		f000
FIXEDASSETS
Tangible assets		14		17,305		17,228
Investments		15		2,237		1,009
				19,542		18,237
CURRENT ASSETS
Stocks		15	172		169
Debtors		17	741		558
Cash at bank and	in hand		1,682		2,841
			2,595		3,588
Creditors: amounts	falling due within one
year		18	(4,495)		(3,891)
NET CURRENT LIABILITIES				(1,900)		(323)
TOTAL ASSETSLESSCURRENT
LIABILITIES				17,642		17,914
Creditors: amounts	falling due after more
than one year		19		(1,536)		(2,254)
NET ASSETS EXCLUDING PENSION
ASSET				16,106		15,880
TOTAL NET ASSETS				16,106		15,680
CHARITY FUNDS
Endowment funds		21		121		116
Restricted funds		21		4,156		3,588
Unrestricted funds		21		11,829		11,955
TOTAL FUNDS				16,106		15,580

			Unrestricted	Total	Total
			funds	funds	funds
			2020	2020	2019
			5000	6000	6000
Trading	subsidiary		37	37	23
Ancillary	trading	turnover	185	185	169
TOTAL	2020		222	222	192
TOTAL	2019		192	192

				Endowment	Restricted	Total	Total
				funds	funds	funds	funds
				2020	2020	2020	2019
				6000	6000	6000	6000
Income	from	listed	investments		40	43	21
TOTAL	2019				21	21

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		6000	6000	6000
Fundraising	costs	99		116
TOTAL 2019		116	116

		Unrestncted	Total	Total
		funds	funds	funds
		2020	2020	2019
		EOOO	8000	OOOO
Trading costs		99	99	127
Trading staff	costs	21	21	21
Cost ofsales		9	9
Administration	expenses	4	4
TOTAL 2020		133	133	152
TOTAL 2019		152	152

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2020	2020	2020	2019
		8000	8000	8000	6000
Teaching		672	8,309	8,981	8,371
Welfare			1,627	1,627	1,830
Premises			2,902	2,902	3,059
Grants, awards and prizes				3	4
Marketing			220	220	274
Office and administration	costs		859	859	780
Minibus			80	80	83
Finance costs			272	272	153
TOTAL 2020		675	14,269	14,944	14,554
TOTAL 2019		99	14,455	14,554

			Activities
			undertaken	Support	Total	Total
			directly 2020	costs 2020	funds 2020	funds 2019
			6000	f000	f000	f000
Teaching			8,872	109	8,981	8,371
Welfare			1,827		1,627	1,830
Premises			2,241		2,902	3,059
Grants, awards	and prizes				3	4
Marketing				220	220	274
Office and administration		costs		859	859	780
Minibus				80	80	83
Finance costs				272	272	153
TOTAL 2020			12,743	2,201	14,944	14,554
TOTAL 2019			12,567	1,987	14,554

STAFF CO	STS
				Group 2020	Group 2019	School 2020	School 2019
				FOOO	FOOO	f000	f000
Wages and	salaries			8,382	8,422	8,382	8,422
Social security costs				714	701	714	701
Contribution schemes	to defined	contribution	pension	1,400	1,002	1,400	1,002
				10,496	10,125	10,496	10,125

			Group	Group
			2020	2019
			No.	No.
Education			202	209
Services			112	110
Support			13	11
Fundraising			3	3
Catering	and	shop	34	43
			364	376

Group	Group
2020	2019
No.	No.

		Short-term
	Freehold	leasehold	Plant and	Motor	Other fixed
	property 6000	property f000	machinery 6000	vehicles f000	assets 6000	Total 5000
COST OR
VALUATION
At 1 September 2019	17,491	114	5,130	125	1,112	23,972
Additions			563		174	737
Dispossls			(62)			(62)
Transfers between
classes			339		(339)
At 31August 2020	17,491	114	5,970	125	947	24,647
DEPRECIATION
At 1 September 2019	2,388	107	3,632	103	514	6,744
Charge for the year	175	6	417	10	52	660
On disposals			(62)			(62)
At 31 August 2020	2,563	113	3,987	113	566	7,342
NET BOOK VALUE
At 31 August 2020	14,928	1	1,983	12	381	17,305
At 31 August 2019	15,103	7	1,498	22	598	17,228

15.	FIXEDASSET INVESTMENTS	FIXEDASSET INVESTMENTS
					Other fixed
				Listed	asset
	Group and	School		investments 5000	investments 6000	Total 6000
	COST OR VALUATION
	At 1 September 2019			472	537	1,009
	Additions			600	595	1,195
	Gain/(Loss)			(10)	43	33
	AT 31AUGUST 2020			1,062	1,175	2,237
	NET BOOK	VALUE
	AT 31AUGUST 2020			1,062	1,175	2,237
	AT31AUG(/ST2019			472	537	1,009
16.	STOCKS
			Group	Group	School	School
			2020	2019	2020	2019
			6000	5000	6000	5000
	Finished goods and goods for resale		172	169	172	169
17.	DEBTORS
			Group	Group	School	School
			2020	2019	2020	2019
			5000	6000	6000	6000
	DUE WITHIN	ONE YEAR
	Trade debtors		332	437	332	437
	Amounts owed by group undertakings				12	4
	Other debtors		94	30	88	21
	Prepayments	and accrued income	315	91	315	91
			741	558	747	553

		Group	Group	School	School
		2020	2019	2020	2019
		6000	f000	5000	5000
Bankloans		949	1,814	949	1,814
Refundable	deposits	352	302	352	302
Fees in advance		235	338	235	338
		1,536	2,254	1,536	2,254

			Group	Group	School	School
			2020	2019	2020	2019
			6000	EOOO	5000	6000
FINANCIAL ASSETS
Financial	assets measured	at fair value
through	income and expenditure		1,062	472	1,062	472

STATEMENT OF FU	N	DS - CU	RRENT YEAR
			Balance at 1				Balance at
			September 2019 6000	Income R000	Expenditure 5000	Gains/ (Losses) f000	31 August 2020 K000
UNRESTRICTED FUNDS
General funds			11,934	14,339	(14,469)	(2)	11,802
Non-charitable trading		reserves	22	37	(32)		27
			11,956	14,376	(14,501)	(2)	11,829
ENDOWMENT FUNDS
Peter Hurford Organ	Scholar		116			2	121
RESTRICTED FUNDS
Scholarhips and prizes			257	20	(4)	(26)	247
Unspent donations			18				18
Foundation Appeal			1,070	61	(74)		1,057
James Bullock Memorial Scholarship Fund			38		(3)		37
Colin Beale			235		(3)		232
Hay Library Fund			47		(2)		45
War Memorial Fund			210				220
Reserve Account			4				4
CCF			43		(2)		44
Chapel Funds			173		(4)		169
Music Funds			2		(1)		1
Preparatory School Drama Fund			12				12
Halford Bequest			118	2		26	146
Fiona Baddeley Drama		Fund	17	1			18
Agdcultural Bursary Fund			155	5		3	163
Holstius Scholarship	Fund		1,189	14		30	1 233
The John Victor Reynolds and
Beryl Reynolds Music Scholarship Fund				510			510
Furlough Grant				582	(582)
			3,588	1,204	(675)	39	4,156
TOTAL OF FUNDS			15,660	15,583	(15,176)	39	16,106

		Balance at				Balance at
UNRESTRICTED FUNDS		1 September 2018 5000	Income 6000	Expenditure 6000	Gains/ (Losses) E000	31August 2019 6000
General Reserve		11,454	15,175	(14,698)	3	11,934
Non-charitable trading		17	22	(17)		22
		11,471	15,197	(14,715)	3	11,956
ENDOWMENT FUNDS
Peter Hurford Organ
Scholarship		102			12	116
RESTRICTED FUNDS
Scholarships and prizes		250				257
Unspent donations		16				18
Foundation Appeal James Bullock Memorial		956	196	(82)		1,070
Scholarship Fund		36		(3)		38
Colin Beale		238		(3)		235
Hay Library Fund		45		(7)		47
War Memorial Fund		192			13	210
Reserve Account		4				4
CCF		37	10	(4)		43
Chapel Funds		179		(6)		173
Music Funds		3		(1)		2
Preparatory School Drama
Fund		12				12
Halford Bequest Fiona Baddeley Drama Fund		120 15			(2) 2	118 17
Agricultural Bursary Fund		136	3		16	155
Holstius Scholarship	Fund		1,189			1,189
		2,239	1,414	(107)	42	3,588
TOTAL OF FUNDS		13,812	16,613	(14,822)	57	15,660

ANALYSIS OF NET ASSETS BETWEEN	FUNDS -CURRENT	PERIOD
	Endowment	Restricted	Unrestricted	Total
	funds	funds	funds	funds
	2020	2020	2020	2020
	6000	6000	6000	6000
Tangible fixed assets		1,435	15,870	17,305
Fixed asset investments	116	1,849	272	2,237
Current assets		872	1,718	2,595
Creditors due within one year			(4,495)	(4,495)
Creditors due in more than one year			(1,536)	(1,536)
TOTAL	121	4,156	11,829	16,106

	Endowment	Restricted	Unrestricted	Total
	funds	funds	funds	funds
	2019	2019	2019	2019
	6000	5000	f000	5000
Tangible fixed assets		1,456	15,772	17,228
Fixed asset investments	112	794	103	1,009
Current assets		1,338	2,226	3,568
Creditors due within one year			(3,891)	(3,891)
Creditors due in more than one year			(2,254)	(2,254)
TOTAL	116	3,588	11,956	15,660

	RECONCILIATION OF NET MOVEMENT	RECONCILIATION OF NET MOVEMENT	IN FUNDS TO NET CASH FLOW FROM OPERATING	IN FUNDS TO NET CASH FLOW FROM OPERATING	IN FUNDS TO NET CASH FLOW FROM OPERATING
23.	ACTIVITIES
					Group	Group
					2020	2019
					K000	5000
	Net income for the period (as per Statement ofFinancial			Activities)	446	1,848
	ADJUSTMENTS FOR:
	Depreciation charges				660	594
	Interest payable				58	153
	Gains on investments				(39)	(57)
	Income from investments				(43)	(21)
	Additions to investments					(306)
	(Increase)/Decrease	in stocks			(3)	30
	(Increase)/Decrease	in debtors			(183)	(52)
	Increase/(Decrease)	in creditors			137	458
	NET CASH PROVIDED BYOPERATING		ACTIVITIES		1,033	2,637
24.	ANALYSIS OF CASH AND CASH EQUIVALENTS
					Group	Group
					2020 5000	2019 f000
	Cash in hand				1,682	2,841
	TOTAL CASH AND	CASH EQUIVALENTS			1,682	2,841

					At 1
					September		At 31
					2019	Cash flows	August 2020
						K000	KOOO
					F000
Cash	at bank and		in hand		2,841	(1,159)	1,682
Bank	overdrafts	repayable		on demand		(277)	(277)
Debt	due within	1	year		(748)	(118)	(866)
Debt	due after 1 year				(1,614)	665	(949)
					479	(889)	(410)

under non	-can	cegable operating leases as follow	s:
			Group 2020	Group 2019	School 2020	School 2019
			6000	f000	5000	FOOO
Not later than		1 year	78	103	78	103
Later than	1 year and not later than 5 years		275	254	275	254
Later than	5years			126		126
			353	483	353	483

Name			Company	Registered office or principal	Registered office or principal	Principal	activity
			number	place of	business
Horsdon	Enterprises	Limited	027658380	Blundell's School, Blundell's Road, Tiverton, EX16 4DT		Lettings services and sub contract work
						for the	school
Holding	Included	in
	consolidation

Name			Income 6000	Expenditure KOOO	Profit/(Loss) lSurplusi	Net assets 5000
					(Deficit) for
					the year
					EOOO
Horsdon	Enterprises	Limited	37	(14)	23	27