Reglstered number.. 04016403 Charity number- 1081249 BLUNDELL'S SCHOOL TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ? Bishop Fleming BLUNOELL'S SCHOOL CONTENTS Page Referen¢¢ and adminlstratlve detalls of the School, its Trustees and ad¥lsgrs Trustees. report Independent audltors. report on the financial statements Consolidated Siatement of financial activities 18.21 22 Consolidated income and expenditure account Consolldatgd balance sheet 23 24 School balance sheet 25 Consolidated statement of cash floy 26 Notes to the financial statements 27-48 8LUNDELL'S SCHOOL REFERENCE ANO ADMINISTRATIVE DETAILS OF THE SCHOOL. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021 Tru5tee5 & Dlre¢tors Mr N P H811, Chair1 Dr S B Anse112.3 Mr N Arnold1.2.4 Mr C M Clapp (resigned 27 November 20201 Ms A Crosse (appointed 18 June 20211 Mr N Cryeri Mr G L Howel,2 Mr M Hunlingford lappunled 18 June 20211 MT M J Love112.3.4 Mrs J M A Mannix1.3 Mrs M MacNeice (resigned 27 November 20201 Fr R Maudsley2.3 Rl Rev'd N H P McKinne13 Mrs D L Rees lappoinled 18 June 20211 Mr R W Thane1.13 Mr l R G Thomasl.3.4 Mrs J S Thomsoni,3,4 Dr M E Wood3.4 Finance and General Purposes Committee Blundell's Preparatory School Committee Education Committee Governance Committee Company registered number 04016403 Charlty registered number 1081249 Reglstered offSce Blundells Road Tiverton Devon EX16 40N Head Mr B Wielenga, Bcom. Natsl & Johannesburg. BEd Company secretary Mrs A HedrIC￿￿lggan$. MA Icantabl, Mst (Oxonl, ACA Independent audlto Bishop Fleming LLP Ch8rtered Accountsnls 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX13QS Page 1 BLUNDELL'S SCHOOL REFERENCE AND ADMINISTRATIVE DETAILS OF THE SCHOOL. ITS TRUSTEES AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 Bankers Allied Irish Bank IGBI {to October 2020) 19 Whiteladies Road Clifton Bristol BS81PB HSBC Bank PIC (from October 20201 Slralus House Emperor Way Exelef Business Pafk Exeter EX1 3QS Sollcltors Harrison Clark Rickerbys Ellenborough House Wellinglon Street Chellenham GL50 1YD Hole & Pugsley 6 Sl Peter Street Tiverton Devon EX16 6NX Page 2 BLUNDELL'S SCHOOL TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2021 REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2021 The Governors, who are also directors of the company for the purpose of the Companies Act 2006, present their annual report and the audited consolidated financial stslemenls for Ihe year ended 31 August 2021. The Govemors, all of whom Served throughout Ihe year lo 31 August 2021 and up lo the dale of signing the f5nancial stslemenls, except where otherwise disclosed, are listed on page 1. Blundell's School I'lhe School") 15 a charltable company limited by guarantee, governed by ils Memorandum and Article5 of Association Icompany registered number 40164031 and a charity fegislered with the Charity Commission Icharily registered number 1081249). 11 has a wholly owned subsidiary, Horsdon Enterprises Limited leompany registered number 27583601. Two directors of Horsdon Enterprises Limited hold one share each in ITUSt for the School. The information with respect lo govemors, directors. officers and advisers, sel out on pages 1 and 2, fornis part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, applicable Accounting Standards in the United Kingdom and the Statement of Recommended Practice ISORP) 'Accounting and Reporting by Charities.. Slatemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" 2005 leffecb've 1 January 20191, the Charities Act 1993 las amended by the Charities Act 20111 and Ibe Companies Act 2006. Executive Summary Osjr Report gives an overview of the yearfs activitses al Blundell's School lincluding Blundell's Preparatory Schooll- both academic and co-curricular- our financial strength and our Governance. Our primary objective, lo prowde a firsl-class independent education for all our pupils as they move through the School, has not changed and we highlight in OUT Report the ways in which progress has continued. 11 is our aim lo achieve the best Possible environment ftir academic learning and leaching and the all-Tound development of the sporting, art151ic and social skills of our pupil5. The Coronavirus pandemic continued to impact on school life throughout the year, with further lengthy period when the school was closed in the Spring Temi. A-Level and GCSE examinations were cancelled and replaced by teacher assessments of grades. A innovative programme of online leaching and involvement for the youngesl through lo the most senior pupils was maintained by our dedicated teachers, building on the experience gained last year. A reduced, bul effeclive, estate maintenance programme was undertaken by our support teams. This year's academie results have been excellent and there have been successes al national level in a variety of academic competitions. The pandemic affected our co-curricular programmes, bul after the return to allendanc 81 school in the Summer every effort was made lo resume as many events 3nd fixtures as possible. Earlier in the year, we enjoyed impressive sporting successes al regional and national levels. We have continued to be a positive conlribulor lo our local community In a variety of ways. Both our schools have contributed lo the Wesl Country Teaching School Alliance and we have extended our partnerships with local Schools, holding events through which we can share the tscililies we have available and enhance the relationship5 that develop. Page 3 BLUNDELL'S SCHOOL TRUSTEES REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2021 Our finanees, in common with many schools during the pandemic, came under p￿sSUre bul through careful management and the support of Ouf parent body we have remained financially sound while recognising that many financial challenges still exist for the independent schools sector. We thank our Head, Bart Wielenga and all his colleagues for their Skill, care and enthusiasm and their constant pursuit of excellence particulady in the face of circumstan￿S that presented them with unprecedented challenges. Aims, objectlves and activities The primary object of the School, as staled in ils Memorandum of Association, is lo advan￿ education through the provision of an age 2 ½ lo age 18 co-educational day and l)oarding school known as Blundell's School or such other schools as the Board of Governors shall determine. Within this object, the School's aim is lo provide first class independent education, both through strong academic luilion, and through developing wider sporting, musical, artistic and social skills in all ils pupils. The School's rnain objective for the yeai is for pupils lo achieve good examination results al both A and GCSE levels. The School's strategy for achieving these results is by seeking continually to improve academic standards throughout the School, providing the best possible environment for leaching and providing ex￿lIent pastoral care and a varied co-curricular programme. Our core School aims ￿ntre around the theme of prowding 'Rools and Wing5" for our pupils. These are defined as follows.. Roots.. To develop eeplh and breadth of character, whieh will encourage resilience, optimism, self-￿ntrol and generosity within the rich Christian values that we have. To develop a sense of social responsibility and Ir) be mindful of OUT role in our community towards each other, OLtr role in society at large and in Ihe global environment. which will encourage consideration, mindfulness and respect. Wngs.. To develop independence, taking responsibility for our own growth and development which will enable us t0 show initiative. take ownership and feel salislaclion in what is achieved. To pursue excellence, aspiring lo do everything 35 well as il can be done, which will develop a sense of jusliliable pride and ambition. To develop confidence and a sense of adventure which will foster courage, curiosity and enterprise and originality. In selling our objectives and planning our aclivilies, the Governors have given careful consideration lo the Charity Commission's general guidance on public benefit and in particular lo Ils supplementary public benefit guidance on advancing education and on fee charging. Page 4 BLUNDELL'S SCHOOL TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 ACHIEVEMENTS AND PERFORMANCE Academic A Level and GCSE Results The public exams. of course. did not happen due lo the exceptional circumstance5 caused by the Coronavirus outbreak and therefore the results of the A-Levels and GCSE exams are not comparable lo previous years. Ofqual turned to the Teacher Assessed Grades ITAG'51 lo ascertain outcomes for pupils and whilst thi5 created a considerable additional burden for teachers and school administrators, the ultimate succes5 was that over 85.kn of our A-Level pupils achieved entrance to their first choice of university. Similarfy, Year 11 pupi15 have achieved a sel of grades that has prepare¢Y them well for entry into the Sixth Foim as well as being a platform upon which lo apply for university. At the Pieparatory School, annual slandardised scores indicate an above average academic prolile across all age groups, with the addition of 9 academic awards lo 8lundell's Senior School gained by Year 6 pupils during the 11+ exam period in January 2021. Notable academic successes have included Gold awards in national BEBRAS Compulalional Thinking Competitions. UK Maths Challenges and our Quiz Club Team made the Nation81 Fina15. Our Home Learning Programme which was so successful during the 2019120 academic year, was further enhanced during 2020121 and enabled all pupils lo continue lo learn through live leaching acros5 the Pre-Prep and Prep. Through a conlinualion of our broad offering, all pupils were able lo continue their academic Studies whilst also enjoying their creative and alhlelic pursuits. The decision was made lo assess all of the children using GLA data in October 2020, both as a measure of the impact of Lockdown I bul also as a baseline for the year ahead. In May 2021, a second set of slandardised assessments were used lo measure progress and results were comparable lo pre-covid times with over 85% of the children achieving al or above national expectations in English and Maths. Music and Drama A went concert featured Sainl-saenz's Carnival of the Animals in what was our first major concert in Big School since Covid restrictions have allowed it. We have also begun collaborating with the Exeter University Chapel Choir and recently they joined our Chamber Choir in leading the School In a midweek Evensong Service. This has given choral singing a real boost and il has also extended choral singin9 to the Prep School and we enjoyed having a cohort of singers from the Prep School al the Evensong. Ondaatje Hall Theatre has not had a major production for some lime bul there are currently three plays in rehearsals. The Senior play will be 'Our Town, by Thornton Wilder, due lo be performed in December 2021. In the new year, Year 9 and 10 pupils will take lo the stage in a production of Shakespeare's 'A5 You Like It, and 'The Wolves of Willoughby Chase, is the Year 7 and 8 play due lo be staged in the Summer Term. Al the Prep School, the Summer Play for Year 6 continued with live audiences enjoying 'Olivei' across iwo glorious evenings in Ondaale Theatre. Last year two of our leavers achieved places at leading acting Schools in London. Page S BLUNDELL'S SCHOOL TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 Sport Sport eontinues to play a critical role in the life of the school and whether pupils are novices or semi-professional, there is a place for everyone to enjoy learning new skills and being part of a team. Sports fixtures against other school resumed in the Summer Term of 2021 and the 1 * Xl cricket team enjoyed the resumption of competitive sport. They played 15 matches, winning 14 and having a thrilling tie against Healhcoal Criekel Club (the Devon Premiership Club Champions) in a T20 fixture. Cricket is thriving al Blundell'5 Wlth several players Tepresenling Devon al different age groups. Girls, cricket is gaining in popularity and, as with Ihe boys. country selection was achieved by a number of players. Al the Prep School, girls and boys play cricket together and three girls represented the school's Under 11 A team during the Surnmer Term. Through the pandemic sport continued lo be ? fflajor focus of school life bul we desperately missed the competibve aspects of playing against other schoo15. To compensate for this, numerous internal leagues sprouted up in hockey, cricket, rugby. football, and nelball and this w3s enjoyed by many pupils. Our younger pupils also continued to enjoy matches within their year groups and whilst this did not replicate the experience of playing against other schools, il did provide ample opportunities to develop skills and enjoy healthy competition. We still held various internal sporting even15 including a very successfijl Athletics day as well as a swimming gala. The Annual Russell cross country run was as competitive as ever and showed that, despite all the difficult circumstances, sport remains a central pillaT in the life and culluTe of the school. By the Summer Term, reslriclions had lifted lo the point whereby we could welcome spectators to outdoor events and we made the most of this with our Nursery, Pre-Prep and Prep Sports Days, all of which were very well attended. CCF, Ten Tors and Duke of Edinburyh We have an active and growing CCF which is compulsory to all Year g and 10 pupils, but which 15 voluntary after that. A healthy number of pupils choose lo continue and qualify for various BTEC'S in leadership as parl of that participation. During the CCF lime pupils prepare for the Bronze Duke of Edinburgh Award and last year nearfy 60 pupils completed the Bronze Award. Two groups went on lo achieve Silver Awards and the Gold candidates completed their expedition in the Brecon Beacons. For the second year running the Ten Tors event was cancelled bul a number of our pupils still undertook the training that would have been prerequisite for participaliDn. World Challenge Every years we undertake a World Challenge Expedition and in July and August of 2019 a large group of Year 11 and 12 pupils travelled through Peru hiking, climbing, serving and relaxing. The next World Challenge expedition is scheduled for July and August of 2022 and is heading for Madagascar. It was initially scheduled for 2D21 but circumstances determined that a poslponemenl was inevitable. Page 6 BLUNDELL'S SCHOOL TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 Public Benefit- Extemal engagernent with local schools, clubs, and other Charities The School further expanded ils extensive programme of engagement with other local organisalions last year. Communication with Tiverton Town Council now includes allendance by the Heads of School al Irimonlhly meetings, in which they update the Council on the School's most recent inilialives, comrnunity involvement, fundraising, individual and group successes and achievement5. Under the leadership of our Director of Community Partnership, various projecls are in proces5 and links with partrTrers in the local community are beginning lo take root. We are enthijsiaslic about engaging with the Tiverton Pannier Market and we will be conlribuling lo the thriving market by providing musical support and there is a Saluiday earmarked for later in the year al which our catering team will be providing street food. Initially, the Blundell's Loyally Card Scheme was due lo be laLinched for Christmas 2021, but we have pushed that back by a year. The Scheme has been endorsed and sponsored by the Tiverton Town Counc￿1 and will create an incentive scheme lo members of the Blundell's community lo support local independent traders. INe hope that this will be of benefit to both members of the school community as well as being a boost lo the Tiverton economy. Gardening, a popular activity within the School, now also includes weekly volunteer work by pupils in a local Hospice vegetable bed and herb garden. as well as involvement with Tiverton in Bloom. Last October. our garden s4Jccessfully participated in the RHS Campaign for School Gardening Big Soup Open Garden Event. It is our intention Ic* participate in the 2022 National Gardens Scheme, raising funds for a variety of nursing and health charitie5. Pupils and staff are also sUPPOrting CHAT. a local Homeless Charity and Food Bank, by supplying surplu5 food to the Community Fndge in Tiverton Library. During Lockdown, over 500 food boxes were sold and dislnbuled lo local residents, many of whom were shielding al home. As well as providing a seivice to the community, the initiative raised almost £2,000 for CHAT. One of our pupils is volun18rily maintaining the CHAT website. Alongside Hospice care and CHAT. the School has lo further charities it supports, one local and one abroad. The other I(￿1 charity is Little Heroes al their 'WIll's Woods, sile just outside Tiverton. Not only have we raised funds lor them, bul stsff and pupils have spent many hours working on the sile helping lo develop it. The Bhambayi Project is our charity abroad. It is a South Afiiean chafily operating out of the East Coast crty of Durban and il looks after orphans in the Bhambayi settlement to the north of the city. We are members of the Wesl Country Teaching Schools Alliance and the Culm Valley Small Schools Association. In addition, we continue lo support three local state schools, both primary and secondary. by providing specialist Science and Music leaching, as well as Activities programmes. Al the Preparatory Sthool, a number of charities have been supported throughout the year - almost forty local, national and international charities have been researched by the pupils and thousands of pounds have been raised for them along the way, often through child-iniliated activities such as cake sale5, Sponsored walks and car washes. This was particularly the case during the 2nd lockdown period. where the school community joined Page 7 BLUNDELL'S SCHOOL TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 in raising funds for the NHS. for Force cancer $UPPOrt. local food banks and the 2.6 challenge, lo name bul a few. There were also numeTOUS examples of children giving their lime for causes close to their hearts. whether delivering food to local people who were most at risk or selling their own produce for a charity of their choice. The Blundell's Adventure, Leadership and Service Award IBALSAI is a scheme for pupils in Year 6. It has been designed lo encouoge children lo try new aclivilies, to give up their lime to help others and to learn more about their place in the world aroun¢J them. This continued to take place with a highlight being the children's participation in the Virgin Money 'Make £5 Grow, scheme in which they raised £300 for The Devon Air Ambulan￿. FINANCIAL REVIEW The Group slalemenl of financi81 activities for the year is set out on page 21 of the financial stalemenls. The School's income increased from £15,583k lo £16,021 k In this yea¥ almost all Income wa5 derived from normal Charitable aclivilies. Fund-raising Whilst the School does not carry out significant fund-raising activities, we continue lo be grateful for the on-going support from the wider Blundell's Community. This was particularly evident dunng the Spring and Summer Coronavirus pandemic, during which current parents, members of School stsff and Old Blundellians donated in excess of £18.000 for temporary hardship assistance with payment of school fees. The balance of some previous year legacies were receNed and these amounted lo £92,455. Horsdon Enterpri5e5 Limited The School's wholly-owned trading subsidiary carries out non-eharilable trading activities for the School, Normally, ils income is largely derived from the letting of School facililies to local 5POrts teams, and to host children's activity clubs and courses for adult groups. Despile ambitious development plans for 2020-21. the subsidiary's ability lo trade was sign1ficanlly impacted by the further Covid~19 lockdown in January 21. This year the subsidiary therefore generated income of £49,273 {2020. £37,121), expenditure of £1,896 12020 £13,700) and recorded a profil of £47,377 12020. £23,421). Nel asseis at 31 st August 2021 were £43,631 12020.. £27,347). Asset covey for funds Note 22 to the financial slalemenls sets out an analysi5 of the assets attributable to the various funds and, in note 21, a description of the funds. These assets are sufficient lo meet the Sch¢Jol's obligations in respect of each individual fund_ Page 8 BLUNDELL'S SCHOOL TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 Plans for future perlods - Strateglc Development Plan ISDPI targets for 2021122 In February 2020 we launched our Blundell's 2025 Slr8legic Development Plan. 11 sets out our educational stall and clarifies our objectives for the next five years. 11 deliberately focuses on educational outcomes rather than operational ones, although work 15 being done on the slralegic development of the business model loo. ACADEMIC TARGETS As part of our Blundell's 2025 work we have sel our very clearly our educational philosophy. We believe that all schools should provide excellent leaching and a good work ethic amongst ils pupils. Al Blundell's, in addition to those baseline expeclalions, we focus on five specific areas which we believe help pupils to become good al learning. Self-Efficacy". A pupil's belief in their own ability lo overcome challenges and lo succeed in their learning. Staff Endorsement.. That teachers ensure that pupils know that they care and believe In their ability lo succeed. Melacognilive Skills". A pupil's understanding of their current abilities and of what their goa15 a￿- and knowing what the first step towards the goal is. Executive Functions.. A pupil's mental skills required for leafning, which we believe can be taught and leamt. Resourcefulness". A pupil's ability lo problem solve and dexterity in doing what needs lo be done lo complete Ihe task. During the period of lockdown over the Spring Term we, once again, lumed lo a very effective and successful on-line learning programme. The focus was lo use Microsoft Tools such as Teams and OneNole lo leach pupils and lo sel, produce, submit and mark work. It has proved lo be very successful and the skills staff antj pupils have acquired form the foundation for further OPPOTlunities for efficiency and flexibility in our leaching and leafning. The Enrichment and Extension programmes continue to develop. The Year 7 & 8 "Roots and Imngs" piogTamme is now well established and continues lo be fine-luned to ensure the delivery of a diverse and slimulaling enrichment progr8mme. Last year we introduced programme for Year 11 13 on Friday afternoons. which included lectures and smaller seminars and discussion groups. This year we have launched our Enrichment Programme lo Year 9 - 11. The Year 9s have a rolalion under the banner of Character Education which includes three 10-week courses on Sewvice, Well-Being and Character. The Year 10 and 11 Electives Programme consists of options electives under four headings.. Study Skills. Employability Skills, Character and Well-Being. The School continues lo invest in a Graduate Teacher Training Programme and this year has four new staff. Last year three teachers graduated, two of whom have stayed on al Blundell's. Blundell's continues to host NQT training days, and we believe we play a leading Tole in inlToducing and training young teachers lo the profession. We continue to invest heavily in the training of teachers in Coaching skills and these skills are employed in a variety of sellings In school. From lessons lo luloring to career advice and also coaching on the sports field, the culture around coaching continues lo glow and lake root. Page 9 BLUNOELL'S SCHOOL TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 In the Prep School, the focus for 2021122 is on ¢Jeveloping teachers through the introduction of a new Professional Development Review IPDRI programme. Half lermly learning walks for all staff provide opportunities for teachers to share best practice and explore new ideas lo infom their own leaching. These reflections are recorded and shared al regular departmental meetings and as a whole staff al the start of each term. Engineering has been included within the timetable for children in Years 5 and 6 and our own Outdoor Learning Programme, Wild Wonders, which has enjoyed such success in our Pre-Prep, has now been expanded lo include Year 3, under the title, Wld Explorers. The Prep School has one Apprentice teacher and the hope is that this will be the start of more regular apprenticeships al the Prep over the coming years. Pastoral Targets The main pasloTal target for the coming year is lo establish the Blundell's Leadership Institute which will consist of three complemenlary strands". The school leaver readines5 programme.. To establish links with local industry leaders lo help us lo audit the school leaver readiness of our pupils and to help us develop programmes to address and deficits in our pupil's current skillset. To continue lo develop the use of AS Tracking as a mean5 of monitrjring the mental and emotional well-being of OLJr pupils, and lo use il as a tool lo track the effectivenes5 of inlervenlions aimed al promob.ng resilience and self-regulation In our pupils. To develop the use of coaching as a tool lo develop our pupils intellectually, emotionally, physically, and spiritually. To develop opportunities for pupils lo develop their voice. There are a number of forums through which pupils can contribute lo Ihe running of the school". School Monitors.. A group of 14 Upper Sixth pupils who meet regularly with the Head and Second Master lo discuss school matters. House Monitors.. Teams of Year 12 Monitors are appointed in each house lo asS151 the House Parents in running the houses. School Council.. Elected represen131ives from each year group in each house meet on a fortnighlly basis lo raise concerns and discuss school mallers. The Council is chaired by the Senioi Monitor5. The International Pupil Committee. Thi5 committee represents Ihe need5 and interests of the pupils who come from diffeienl countries. The committee helps to organise events marking special occasions in other countries, such as Chinese New Year or Diwali. The committee also represents the interests of overseas sluéenls lo the Senior Management Team. A more recent initiative. aimed al spreading leadership opportunities across more pupils, has been the launch of the Blundell's Community Action Teams, under the Supervision of the Director of Commun1ty Partnerships. These teams will focus on various aspects of school life including Equity, Diversity and Inclusivity IEDII. A newly appointed Head of EDI who is a member of the Senior Leadership Team. meets with the team lo discuss inilialives to promote EDI across the school. Page10 BLUNDELL'S SCHOOL TRUSTEES REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2021 Al the Prep School, our Year 8 children have taken on additional responsibilities in their roles as senior pupils within the school. This includes reading with our Year 3 children on a weekly basis and supervision of equipment at break limes. During mid-seplember 2021. we designed and then implemented a new pupil questionnaire, drawing on influences from the ISI pupil questionnaire as well as our own thoughts on areas of pupi15' lives al School about which we wanted moTe information. The responses from all pupils in Yeais 2 10 6 were collated by the Deputy Head and then shared with form teachers. enabling them lo take swift action should there be any concerns. Pupil voice remains as important as ever and we have a Pre-Prep and Plep School Council, both of which meet regularly with the Head of Pre-Prep or Deputy Head. Exiraf the following matters in relation lo which Companies Act 2006 requires us lo report lo you rf. in our opinion.. the parent charitable company ha5 not kept adequate and sufficient accounting ie¢ords, or retums adequate for our audit have not been received from branches not visited by u5", or the parent charitable company finanaal statements are not in agreement with the accounting records and returns,. or certain disclosures of Tw$tees' remuneration specified by law are not made., or we have not received all the inlomialion and explanations we ￿quire for ou¥ audit. RESPONSIBIUTIES OF TRUSTEES As explained more fully in the Truslees, Responsibilities Slalemenl, the Trustees (who are also the director5 of the charitable company for the purposes of company lawl are Tespon5ible for the preparation of the financ5al statements and lor being sa115fied that they give a true and fair view. and for such internal control as the Trustees determine Is necessary lo enable the preparation of financial stslemenls Ihal are free from material misslalement. whether due lo fraud or error. In preparing the financial statement5, the Trustees are responsible for assessing the Group's and the parent charitable companls ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the T¥ustees either intend lo liquidale the Group or the parent charitable company or to cease operation5, 01 have no realistic alternative bul lo do so. Page 19 BLUNDELL'S SCHOOL INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF 8LUNDELL'S SCHOOL ICONTINUEDI AUDITORS, RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are lo obtain reasonable assurance about whether the finanaal statements as a whole are free from material missialement, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a material misslalemenl when il exists. Misslalements can arise from fraud or error and are considered material if, individually OT in the aggregate, they could reasonably be expected lo inlluence the economic decisions of users taken on the basis of these financial stslemenls. I￿egUla￿￿.es. including fraud, are instsnces of non-compli8nce wlh laws and TegulalioF15. We design procedures in line wlh our responsibilities. ouuined above, lo deleet material misslatemenls in respect of irregularities, induding fraud. The extent lo which our procedures are capabfe of detecting irregularities. induding fraud is detailed below.. W8 have considered the nature of the sector, control environment and Group performance., We have considered the results of our enquiries ot management in relation to their own identification and asse$smenl of the risks of irregularities within the Group,. and.. We have considered any matters we identified having obtained and reviewed the Group's documentation of their policies and procedures relating lo.. Identi￿.ng, evaluating and COTnplying with laws and regulations and whelher they were aware of any instances ol non-compliance., Delecling and ￿Sponding to the risks of fTaud and whether they have knowledge of any actual, suspected or alleged fraud,. and The inlemal controls established to mitigate risks of fraud or non-compliance with laws and regulations., As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisalion for fraud ancl idenlilied the highest area of risk tg be in relation lo incorrect Income recognlion. In cornmon vthth all audits under ISAS IUKI we are also required lo perform specifi¢ procedures lo respond lo the risk of management override. We have also obtained understanding of Ihe legal 8nd regulatory frameworks that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the detemiinalion of material amount5 and disclosuies in the financial slalernenls. The key laws and regulation5 we considered in this context included the UK Companies Act, Financial Repotb'ng Standard 102, Charibes SORP and Charities Act . In addition, we conSide￿d the provision of other laws and regulations that do not have a direct effect on the finanaal st21emenls bul compliance with May be fundamental for the Group's ability to operate or avoid a material penalty. These included safeguarding regulations, health and safely regulations. education and inspections legislation, employment legislation and data pfoleclion laws. OUT procedures lo respond to risks identified included the following.. Reviewng the finanaal 51alemenl disclosures and testing lo supporting documentation lo assess comp118nce th promsions of relevant laws and regulations described as having a direct effect on the financial slalements., Reviewing the financial slalement disclosures and testing to supporting documentation lo assess the recognition of revenue", Discussions with managemen and thtsse chaiged wlh govemancet, including consideration of known or suspected instances of non-¢ompli8nce wlh law5 and regulations and fraud., Performing analyticial procedures lo idenlify any unsuual ur unexpected relalion5hip5 that may indicate risks ol material misslalement due to fraud", Reviewing minLJles from meetings of those charged wlh governance and reviewing internal ￿ntrol Teports., Idenlifying and testing jDumal entries, evaluating whether there was evidence of bias by the members that represented a risk of rnaterial misstatement due to fraud.. and Challenging assumpts.ons and judgements rnade by management in the significant accounting estimates. Wo also communicated identified laws and iegulalions and potential fraud risks lo all members of the engagement team and remained alert to possible indicators of fraud or nortrcompliance with laws and Page 20 BLUNDELL'S SCHOOL INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF BLUNDELL'S SCHOOL ICONTINUEDI regulations thioughoul the audit. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading lo a material fflisslalemenl in the financial slalemenls or non-compliance wlh regulation. Thi5 risk increases the more that compliance with a law or regulation is removed from the even15 and Iransactsons reflected in the financial ststements, as we wll be le55 likely to become aware of instances of non-eompliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error. 88 fraud involves intentional concealment, forgery, collusion, omission or misrepresenlalion. A further descripb.on of our respon5ibililie5 for the 8Ltdil tsl the financial statements is located on the Financial Reporting Council's web511e at.. www.frc.o .uklaudiloTsre5 onsibililies. This description foms part of our Auditors, Report. USE OF OUR REPORT This report is made 501ely lo the charitable companls members. as a body, in accordanee with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might s181e lo the charitable companys members those matters we are required to slate to Ihern in an Auditors, Report and for no other purpose. To the fullest extent permrtted by law, we do not ac¢epl or assume responsibility to anyone other than the charitable company and its members. a5 a body. for our audit work, for this report, OT for the opinions we have formed. TIM 8orton FCA DChA IS9nlor$latutory audltorl for and on behalf of Bishop Fl¢mlng LLP Chartered Accounlanls statutory Auditors 2nd Floor Slralus House Emperor Way Exeter Business Park Exeter EX1 3QS Dale. 02 February 2022 Page 21 8LUNDELL'S SCHOOL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021 Endowment funds 2021 £000 Restricted Unrestrlcted funds funds 2021 2021 £000 £000 Total funds 2021 £000 Total funds 2020 £000 Note INCOME AND ENDOWMENTS FROM.. Donations and legacies Charitable aclivilies Other trading acb'vities Investments 1S6 210 1S6 15,438 346 81 574 16,228 14,744 222 77 43 TOTAL INCOME AND ENDOWMENTS 443 15.574 16.021 15,583 EXPENDITURE ON: Raising funds Charitable activib"es'. Other charitable activities 223 223 232 260 15,324 15,684 14,944 TOTAL EXPENDITURE 260 15,547 15,807 15,176 NET INCOME BEFORE NEr GAINS ON INVESTMENTS Net gains on investments 183 27 214 407 20 455 486 39 NET MOVEMENT IN FUNDS 638 38 700 446 RECONCILIATION OF FUNDS: Total funds brought forward Net movernenl in funds TOTAL FUNDS CARRIED FORWARD 121 4,156 638 11,829 38 16,106 700 15,660 446 24 145 4,794 11,867 16,806 16,106 The Consolidated Statement of Finanaal Activities includes all gains and losses recognised in the year. The Notes on pages 27 to 48 fomi part of these financial slalements. Pa9e 22 BLUNDELL'S SCHOOL SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021 Total funds 2021 £000 16,017 466 Total funds 2020 £000 15,580 37 Note Income Gains on investments GROSS INCOME IN THE REPORTING PERIOD 16.483 {15,8071 15.617 115,1761 Less.. Tol81 expenditure NET INCOMEIEXPENDITUREI FOR THE REPORTING PERIOD 676 441 The notes on pages 27 10 48 form part of these financial slalements. P8ge 23 8LUNDELL'S SCHOOL REGISTERED NUM8ER..04016403 CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2021 2021 £000 2020 £000 Note FIXED ASSETS Tangible assets Investments 14 15 17,370 3.725 17,305 2.237 21.095 19,542 CURRENT ASSETS stocks Debtors Cash at bank and in hand 16 133 208 1,506 172 741 1,682 17 1,847 2,595 Creditors." amounls falling due within one year 13,9681 14,4951 NET CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES 12,1211 11,9001 18.974 17,642 CreditOTS.' amounts falling due after more than One year 12.1681 11,5361 TOTAL NET ASSETS 16,806 16,106 CHARITY FUNDS Endowment fvnds Restricted funds Un￿striCted funds 21 21 21 145 4,794 11.867 121 4,156 11,829 TOTAL FUNDS 16,806 16.106 The Trustees acknowled9e thwr responsibilities for complying wlh the requirements of the Act with respect lo aecounling records and preparation of financial slalements. The financial statements were approved and authorised foT 155ue by the Trustees on and signed on their behalf by". MrNPHall rGLHowe The notes on page5 27 10 48 form part of these financial slatemenls. Page 24 BLUNOELL'S SCHOOL REGISTERED NUMBER.'04016403 SCPIOOL STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 AUGUST 2021 2021 £000 2020 £000 Note FIXED ASSETS Tangible assets Investments 14 17.370 3,725 17,305 2,237 15 21,095 19,542 CURRENT ASSETS Stod