Company Number: 03898262 Registered In England and Wales Charity Number: 1081875 Notre Dame School Cobham Annual Report and Financial Statements for the year ended 31 August 2020
Notre Dame School Cobham Annual Report and Financial Statements for the year ended 31 August 2020 Contents Page Referen and administrative infonnation Annual Report of the Govemots Strategic Report Directors. Report statent of Govemors. Responsibilities 17 Independent Auditorfs Report 19 Statement of Financial Activities 22 Balan Sheet 23 ststement of Cash Flows 24 Notes to the Financial Statnts 25
Notre Dame School Cobham Reference and administrative infonnation for the year ended 31 August 2020 Reference and administrative information Notre Dame School Cobham (Yhe school J is constituted as a company limited by guarantee registered in England. and is registered as a charty with the Charity Commission. Its company registration number is 03898262 and its charity number is 1081875. Governors, directors and charity trustees The Govemors of Notre Dame School Cobham (he school) are the school's charity trustees under charity law and the directors of Ihe charitable company. The members of the Governing Body who served in office as Governors during the year and subsequently are as follows: Mr Gerald Russell. FCA (Chairman) Sr Maria Nieves Escalada. ODN Mrs Helen Evans (resigned October 2019) Mr Simon Frost Mr David Gair Sr Anne Gill. ODN Sr Patricia Grady, ODN (appointed November 2019) Mr Russell Granat ACA (elected September 2020) Mrs Wanda Nash BA MEd (Cantsb) Mr Gerard Owens (elected October 2019) Sr Maria Quinn, ODN (resigned September 2019) Sr Kathy Schneider Fr Mervyn Williams. SDB, BSC. BD, MA (resigned June 2020) Offjcers The following key senior members of staff (key management personnel) are responsible for the day-to4ay management of the charity: Heads of School Mrs A King MA {Cantab) M.Ed PGCE FRGS Head of Senior School Mrs Amelie Morgan MA BA (Hons) PGCE Head of Preparatory School Clerk to the Govemots and Company Secretary Ms L Ayling Bsc (Hons) MA {Oxon} PGCE FCA Bursar Page 1
Notre Dame School Cobham Reference and administrative Infonnation for the year ended 31 August 2020 Principal address and rngistsred offic• Notre Dame School. Burwood House. Bumood Park. Cobham. Surrey, KT111 HA Auditors Crowe U.K. LLP. 55 Ludgate Hill. London, EC4M 7JW Bankers Barclays Bank PLC. 8-12 Church Street. Walton on Thames KT12 2YW Solicitor¥ Veale Wasborough Vvzards, Narrow Quay House, Narrow Quay, Bristol BS14QA Website wWw.ntedame.ts0.Uk Page 2
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 The Govemors present their report and the financial statements of Notre Dame School Cobham for the year ended 31 August 2020 under the Charities Act 2011, induding the Directors. and Strategic Reports under the Companies Act 2006 together with the audited financial statements for the year. STRATEGIC REPORT Review of achievements and perfonnance This year. the school has continued to grow and we remain committed to a broad intake as we believe this makes for a better leaming environment for students of all abilities. Focus has been on the continued achievement of the highest stsndards of academic perfornian. and enhancing provision for student wellbeing. In the Autumn ten, we ran our usual programme of activities ft)r academic enrichment, sports, drama, music. art and well-being. We held the Prep harvest mass, the Senior music scholars, conrt, pastoral briefing evenings for parents, the Senior School rag week, A- Level music recitals, the FOND Christmas Fayre, Feast Day mass, the infant nativity, Christmas jingle, nursery nativity, Prep carol servi, staff panto and senior caro5 service and all the SnS pointed to another very successful year. In the Spring temi, both the Prep School and Senior Sthool underwent ISI Regulatory Compliance inspections, vthich assessed their Complian with Independent School Standards Regulations (ISSRS). Both schools were found to meet the required standards. Meanwhile, school lrfe continued apa. with a packed (Xlendar of academic field trips. drama productions. sporting events and pastoral evenings taking place up to early March. when COVID 19 became the main topic of conversation. The COVID 19 pandemic has presented challenges that have inspired us to be even more innovative in the way we deliver our academic learning and pastoral care. We have been fortunate to be able to ernbra technology and deliver a robust online curriculum during lockdown with 'Sive' lessons for all our students from Reception to year 13. Notre Dame has also been committed to maintaining and supporling our communty during the COVID-19 Pandemic and has provided individual, tailored financial support as well as supeNision for vulnerable pupils and the children of key workers during this challenging time. Whilst the COVID 19 pandemic meant that the school facilities were not open to all pupils the tsachers Vre able to continue to provide a full and robust curriculum for all students. The younger Prep School students had a mix of'lwe. maths arKI English lessons. online leaming activib'es and project work that could be undertaken in their own time. Senior School students continued with their existing timetables with teachers either tsaching lessons 'live' via Microsoft Teams or setting work for students to complete independently. Teachers were always available to help and support during their specific Page 3
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 lesson time. Music, Art & Textiles. Fo(MJ & Nutrition. PSHE and even Sports SSonS were able to continue online. In the Prep School. the timetable was restructured to ensure that every gid from Reption to Year 6 thUkI receive live maths and English dasses every day, supplemented with an extensive range of live lessons and project work spanning the whole breadth of the curriculum. In addition. the girls took part in live weekly assemblies. collective worship and hymn practices. Although we closed our nursery. we maintained contsct with our nursery students with online story telling sessions and believe that this helped them when the time came for them to retum to school. Additional attention was paid to the wellbeing of all the pupils and staff, with regular fomi time and check-ins to ensure everyone was coping with on-line leaming and with the isolation of home-leaming, and more staff were trained in Mentsl Health First Aid to help pupils transition back to school. The school was open to pupils of Key workers throughout the lod( down period and also VRS deluhted to welcome all our Prep School girls back into school during the summer term when national restrictions were eased. We have continued to expand our facilities wth the opening of our new 'Forest School, _ set within a secluded woodland area. Our Infant and Nursery children have weekly Forest Sthool lessons. building Confiden and resilience whilst leaming in the natural world. Older students can also enjoy Forest School Club and Year 10 visited the Forest School for the annual Refiection Day. Examinatlon8 and Curriculum At Notre Dame we continue to provide a range of dynamic and innovative strategies vthich together assure the delivery of a hhty personalised education for each irKlividual student. All stsff are encouraged and supported in continually striving to improve and enrich the academic experien. This year, due to COVID 19. ntre assessed grades were used to calculate both GCSE and A-Level examination grades. At GCSE, 1 in 8 girls yre awarded at least eight 819 grades (old A" equivalent), and 1 in three girls were awarded at least eight 7-9 grades (old A"IA equIvant). 100 % of our girls achieved grades 4-9 {old A'IC equivalent). At A-Level, 590k of the grades awarded were either A" to A. and 90% of the grades awarded yre A. to B. Notre Dame students have been rewarded for their diligence arKI hard work throughout the year and athieved the results they hoped for. The Sixth Fom girls all got plaS at the Universities and on courses that they aspired to. This year, more than any other, has highlighted the beneffts of Notre Dame's exlIent academic teaching, our positive attitude to leaming and our ethos of hard work. These. alongside individual mentoring for each GCSE arKI A Level student. ensured our girls achteved a well-deserved set of results. Page 4
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 Creativty is embedded in the teaching of all subjects and art, music. drama and sport offer scope for personal expression. exploration, inspiration and growth. Thts has also been even more important this year and in these challenging times. Notre Dame provides an all-round education with both extra and co-curricular activities designed to build resilien, leadership skills, teamwork and experien5 that will enhance the girls. future lives. There are a huge range of opportunrties across the school which nonnally include day trips. residential trips and expeditions. master-classes and lectures, visiting experts and authors and from Year 10 the opportunity to lake part in the Duke of Edinburgh Scheme. Sadly, many of our wonderful residents'al and day trips had to be cancelled this year due to COVID 19. Notre Dame is however very fortunate to have wonderful and exiensive grounds and outdoor facililies where we have been able to teach and inspire our students outside in the fresh air. Girls from Year 10 to Year 13 have been challenged and inspired by the Duke of Edinburgh's award scheme at bronze and silver levels and three girls achieved their Gold Awards. Financial review Financial results of activities and •v•nts The financial results of the charity's activities for the year ended 31 August 2020 are set out in the Statement of Financial Activities on page 22, and the Statement of Cash Flows on page 24. This year the school made an operating surplus of £359,000 (2019: 325.000) and had an infiow of cash from operating activities of £949.000 (2019.. £811.000). The loss of incorne that resulted from the complete school closure in between March 2020 and May 2020 was offset by the support received from the government's Job Retention Scheme and the deferral of all non*ssents'al expendrture during a period of very high uncertainty. The full adverse impact of the pandemic on the school's finan$ is not yet known and V expect the results for 2020121 to be affected more than the results for the current year. The Governors have set asKle £500,000 to cover this. Further detsils are given below in the reserves policy and going conrn sections below. Although the school was able to teach remotely throughout the summer tem. the school cognised, in line with many other schools. that there was a steep leaming curve for both staff and sludents during the inbtial switch to remote leaming. In light of this, the school offered a discount on its Summer Term fees. The total value of the discounts offered was £476,000. As well as this discount. the school took a number of emergency measures to support parents in Ihe short temi. including making more means-tested support available to families whose cirCumstanS had changed significanty, and supporting parents with short- Page 5
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 term cash fft)w issues, and deferred its annual fee increase from Autumn 2020 to Spring 2021. To offset some of the loss of fee incorne, the school fvrloughed around 35 employees (mainly support staffj between the school closure in March 2020 and the end of the financial year, as part of the govemment's Job Retention Scheme. The resulting income of £194,000 helped to provide s(xne stsbilty in a lime of Unpredented uncertainty. In addition. the school deferred all non-essential expenditure while the longer term impact of the pandemic were assessed. Reserves Policy The school's total reser1 at the yearend (note 15) were £11.149,000 (2019.. £10,790,000). Included vrfthin these reserves were £47,000 of unspent reslricted income (2019: £27.000) and £10,602.000 of deSnated funds (2019: £10.013,000). As a company limited by guarantee. the school cannot distribute surpluses and reinvests any surpluses made to benefft current and future beneficiaries. The current students benefft from the investment made into the estate as a result of past surpluses, and £8.161,000 (2019.. £8.284,000) of the school's reserves have already been reinvested to provKle all the land. buildings. fixtures. fittings, equipment and vehicles in use today. The school is situated on a private road. and is partly responsible for the upkeep of the lane. £155.000 (2019: £135,000) has been set aside the funds required to restore the lane given its current condition. Burhill Group Limited, an independent company. are responsible for commissioning repair works. The impact of the pandemic is not restricted to the year ended 31 August 2020. In addition to undertaking works defeThed from 2019r20. the school will incur additional costs in 2020121 as a result of the changes needed to operate in a COVID-19 secure manner, the costs of covering for staff vtho need to self-isolate. the addib'onal demand for means-tested support and the costs associated with the school closure that has been in Pla sin January 2021. The COVID fund of £500,000 (2019: £nil) refiects the anticipated future impact of the pandemic. As the fees are paid in advance and the short temi cash flows have proved to be robust even during the pandemic, the govemors have redUd the level of the general reserve from £750.000 to £500,000. This represents the School's free reserves. As a result of these allocations and the results for the year, the future capital projects reserve has increased by £192.000 to £1.786.000. Ahhough an investment of £192,000 per year yuld not be sufficient to refresh our estate. this increase is a testament to the resilien of the school's finances and bodes well for the future of the school. Page 6
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 Futuro Stratsgy The school's long-lemi strategy is one of consolidation not continued expansion. Were you to walk into the school in 20 years. time, we hope that you woukl find it largely reGognisable. Our aim is to remain unashamedly holistic. with our students at the centre of everything we do. However, we recognise that we will need to invest and adapt to remain competitive and to ensure that the next generation of students have the same opporturbities as our current students to benefrt from St Jeanne's legacy. Our future strategy focuses on incremental improvements, induding: Creating a wellbeing hub which draws together our existing welfare provisions for senior students, prep students and staff and to create a central service which serves the whole school community Co-locating specialist curriculum provision so that students of all ages have aCsS to the best facilities arKI staff the school can provide Ensuring that the financial position of the school is secure Going Concern As the pandemic unfolded, additional models and forecasts were produced by the leadership team and reviewed by the Finance and Buildings Committee and the Board of Govemors. Several scenarios were considered, induding loss of student numbers and significant levels of staff cover due to sickness. The Govemors are satisfied that the revised budget and forecast reflect the most likely scenario and that it contains enough flexibilty to weather a second year of uncertainty. The financial projections have tsken into consideration the current economic climate and global pandemic and the possible impact that these will have student numbers, affordability of fees and expenditure levels. In light of these projections. the Govemors are confident that the school has adequate resources to continue in operational existen for the foreseeable future and that there are not material UnrtaIntieS that call into doubt the school's ability to conb'nue. The financial statsments have therefore been prepared on the basis that the school is a going COnrn. Page 7
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 DIRECTORS. REPORT Structure, governance and management ststus and hlstory Notre Dame School is an independent Roman Catholic day school ft)r approximately 650 girls aged from two to eighteen years and boys aged from two to four years, and was founded by the Order of The Company of Mary Our Lady. which is the oldest recognised educational order devoted to the teaching of gits; founded on the belf that women have unique contribution to make to soaety. Saint Jeanne de Lestonnac, who ft)unded the Order of The Company of Mary Our Lady in 1607, said 'we are all educators......-........ . accompanying young people in their efforts to build their lives for today and tomorro¥rf an approach that still looks fresh and modern 400 years later. Notre Dame School Cobham is a registered charity, and a company limited by guarantee, not having share capital. Every member undertakes to Contribute an amount not exedIng £1 to the assets of the charity in the event of the charity being wound-up during the period of membership, or wilhin one year thereafter. The management of Notre Dame Sch(M)l is the responsibilty of the Board of Govemors of Nolre Dame School Cobham. which was incorporated on 22 Dernber 1999, and became a gIStered charity on 7 August 2000. Notre Dame School Cobham is govemed by the rules and regulations set down in its Company Memorandum and Artides of ASslatIon. Organlsatlonal Structure The overall strategic direction and evaluation of risk of school is determined by the Govemors, who make all the key policy decisions. and supervise and control the authority delegated to the Executive Team. comprising the Head of Notre Dame Senior School, the Head of Notre Dame Preparalory School and the Bursar and Cterk to the Govemors. The Executive Team. as the key management personnel. a responsible for the day-to4ay operations of Notre Dame School Cobham. The Board of Governors meets at least three times per year. All meetings are also attended by the Executive Team. who report to the Govemors on all matters of significance in relation to the affairs of the school. The remuneration of key management peTsonnel is set by the Board, with the objective of providing appropriate incentives to encourage enhanced perfomiance and of rewarding them fairly and responsibly for ttr1r indNÉdual contributions to the Company's success. The appropriateness and relevan of the remuneration policy is reviewed annually, including referen to comparisons with other Independent schools to ensure that the Page 8
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 School remains sensitive to the broader issues of pay and employment corKlitions elsewhere. The aim is to recwit. subject to experience, at the lower to medium point within a band, providing scope for rewarding excellence as staff costs are the largest single element of the school's charrtable expenditure. Govemors re[ve no rernuneration for their services to the school either as trustees of the charty or as directors of the Company. Committees The Govemors organise themselves into the following committees (all of which meet at least three times per year) to assist them in the process of the govemance of the school. All committees have at least one Govemor representative with the balance of the committee comprising staff and l or ccFopted member5. as appropriate. The Finance and Business Committee is responsible for monrtoring income and expenditure, approving the annual budget and setting the fees. The Committee also ensures that the annual audited financial staternents and regulatory relums are prepared in accordan with relevant legislation. The following Govemors have been members of the Finance and Business Committee. Sin 1 September 2019: Father Mervyn Williams SDB (Chair) (reSned June 2020) Mr Russell Granat (Chair) (from September 2020) Mr Simon Frost Sr Anne Gill ODN Mr Gerald Russell The Education and Staffing Committee is responsible for monitoring the school curriculum and its links with the school Development Plan. The Commtttee reviews staffing requirements, staffing issues and monitors staff perforManlSa1arieS. It also advises the Buildings Committee on facilities requirements in temis of the curriculurn. The following Govemors have been members of the Education and Staffing Committee Sin 1 September 2019: Mrs Wanda Nash {Chair) Mrs Helen Evans (from March 2019 to October 2019) Mr David Gair Sr Anne Gill ODN Page 9
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 The Lestonnac Committee is respcnS1e for considering the work of the school in light of its mission. The Committee reviews all preparations for religious ServIS and celebrations. including anniversary lebratIOnS. It also ensures the teachings and mission of Saint Jeanne de Lestonnac are ntral to the edution offered by the school. The following Govemors have been members of the Lestonnac Committee since 1 September 2019: Sr Anne Gill ODN (Chair) Sr Nieves Escalada ODN Sr Patricia Grady ODN (from Novernbei 2019) In addition to the above committees. the govemors have oversight of the following two committees and receive regular updates on their activities. The Frfends of Notre Dame (FOND) Committee. the parents association. operates under the auspices of the school. FOND arranges social events and fundraising activities. The FOND Committee consists of representatNes of the parent body, staff at the school and Govemor. A governor attends the meetings on a rotation basis. The H•alth and Safety Committee is a staff commrttee with no governor attendance. It is responsible for Monitoring and advising on safety aspects for the whole school site in tenns of Health and Safety legislation as it pertains to pupils, staff and visitors to the school. The school also engages the services of a Health & Safety Advisor to review the school's procedures and processes and to provide advice to staff. The Committee considers the risks involved in all activities. visits and the use of the site and buildings and reports findings and risks to the FInar and Business Commtttee on a tern1 or ad hoc basis. Method of RruItmen( Appoinlmenl Election. Induction & Training of Governors Recnjitment The school's Govemors are recruited based on eligibilty. personal competence, specialist skills and local availability. Appointment 8nd Election The majorty of the Board of Govemors are appointed by the Mother General of the Order of The Company of Mary Our Lady and are known as SG Governors. The remainder are known as AGM Govemors. being elected at the Annual General Meeting (AGM) or cc opted onto the board lo hold OfFI until following AGM. Elections to the board are on the basis of a simple majority of the votes of the Govemors. Page 10
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 Induction and Training Newly appointed or elected Govemors are inducted into the workings of the school, including being briefed on board policy and procedures, at an induction meeting with key fellow Govemors and the Executive Team. Copies of key documents are provided. Govemors are also briefed on g0Vemar issues at regular board meetings and are kept infomed aboul training opporbjnities via regular e-mail correspondence. Regulation, legislation and g0veMan best practi updates are provided in the board packs for infomation purposes, and various opportunities for meeting socially, incorporating talks on the school's mission. are arranged throughout the year. A Govemors, portal on the school website has also been established to create a resource and referen base for Govemors. The portal provides Govemors with easy access to referen materials. meeting minutes and policies. Govemors are invited to attend the bi-annual pilgrimage to Bordeaux to follow in the footsteps of the Foundress. Saint Jeanne de Lestonnac. in order to understand and experien the Charisrn and educational mission of the Order of The Company of Mary Our Lady. The Charity Govemance Code The charty governan code is endorsed by the Chartty Commission arKJ was rentlY updated in Dember 2020. The Code is designed as a tool to support continuous improvement and all charty trustees are encouraged to meet the principles and outcomes of the Code by either applying the recommended practi or explaining what they have done instead or why they have not applied it. The school has used the code to assess its current practice against the CharÈty Governan Code's seven principles and recommended practi. The main areas where the school's practice differs from recommended practi relate to the recruitment of Govemors and the diversity of the members of the Board. Our goveming document requires the majorty of the Board of Govemors to be appointed by the Mother General of the Order of The Company of Mary Our Lady to ensure the continuation of the ethos of the school and all govemors must be sympathetic lo this ethos. We recruit AGM govemors using a variety of rneans. including seeking applications from ft)mier students and parents and through nominations from govemors and the executive team. Investment Policy and perforniance Under the rules of the goveming document of the chafity, the Govemors have wide ranging povRrs to invest the funds of the charity as they see frt wthin the scope of the laws and regulations applying in Ihe United Kingdom. In practi, the Govemors have continued to accumulate their free reseNes and hold them as liquid assets in a managed cash fund. removable wilhout charge at minimum noti. The Govemors would not knowingly invest in anything that they consKler to be socially, environmentally or ethicalty unsound. Page11
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 For the year ended 31 August 2020, the school's untricted reserrfes (held principally as cash and fixed assets) increased by 3.150h (2019: increased by 2.98Vo). and the school achieved an average income retum on total cash deposits of 0.63% (2019: 0.54%). This is in line with expectstions. Fundraising All fundraising activrties for the school are carried out by the Friends of Notre Dame (FOND) and are focussed around fundraising events such as the Winter Ball. the Christmas Craft Fair and an annual Quiz Night. In addition, FOND Cordinate the Neaty New Unrfonn shop which allows parents to buy and sell items of school unrfonn from and to other parents. These activities serve to ratse funds for the sthool, but also to generate a sense of community within the parent body. The school does not use professional fundraisers or have any commercial participators. All fundraising activities are Managed by FOND, with overall oversight by the FOND committee. No complaints relating to fundraising activities have been received by the school during th financial period. However, the school has in pla procedures that would be followed in the event of a complaint being received with the initial response being the responsibility of the Executive Team. Any conlinuing issues would then be dealt with in line with our Complaints Policy. The school does not currently subscribe to any specific fvndraising standards or schemes for fundraising regulation but considers that it has set appropriate standards for the operation and management of its fundraising activities. In partUlar, the school considers that rts processes and controls should ensure that vulnerable people and other members of the public are protected from any unreasonable intrusion on a person's privacy and that no fundraising activities would be unreasonably persistent or place undue pressure on a person to give money or other property. Risk and corporate governance The school has taken out a public liabilty Insuran policy that provides professional indemnity cover for the Governors and Staff of the school. The Govemors keep under regular review the principal areas of the school's operations. and consider the major risks faced by the school in each of those areas. The management team undertakes a regular review and update of the risks, and action is tsken to assess and improve procedures in order to mitigate the negative impact of risk. This is reviewed by the Goveming Body. Risks are identifEd and assessed. and then appropriate controls established to be monitored and tested throughout the annual cycle. The main risks facing the charty are a reduction in pupil numbers. arising principally from the economic circumstsnces in the region generally exarbated by COVID 19 and Brexit, and from the strong competition Page 12
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 from Independent and State schools in the area and ¢-edUCa.OnaI sixth foms in local boys, independent schools. The school made a number of changes lo its operating procedures to comply with guidan on operating Secuty during the coronavirus pandemic. The Govemors also consider externally mandated increases to the school's cost base (for example from changes to VAT legislation, the availability of charitable relief on business rates and contribution rates for the Teachers, Pension Scheme) and the affordabilty of fees by parents across the independent sector lo be the principal risk fad by the school. These risks are being mttigated by ensuring that the fee levels are maintained at reasonably affordable levels, without compromising the qualty of the education", rigorous credit control. constant internal and extemal marketing and a rolling review of the educational experien. Following a consultation with affected stsff. the Governors took the difficult deasion to withdraw from the Teachers. Pension Scheme with effect from 31 Dember 2020 as they felt that conts'nued membership of the scheme posed too great risk to the school. The school is also investing in high quality staff and facilities and continues to improve its IT infrastrLKture support the technology needs of the curriculum. The Education Committee monitors and reviews all the major risk areas. It corKJucts annual fomal reviews of the school's child protection policies and procedures, and of the efficiency wrth which the related duties have been discharged, and then the findings are reported to the board of Governors. The key controls used by the school include: Formal agendas for all committee and board meetings: Detailed terms of referen for all committees. Comprehensive strategic planning. budgeting and management accounting procedures., Established organisational structures and fonnal lines of communicatTron and reporting: Fomial written policies: Clear authorisation ar)d approval levels,. and Vetting procedures as required by law for the protection of children and vulnerable adults. Through the risk management prosseS estsblished for the charity, the Govemors are satisfied that the major risks have been identified and have been adequately managed where necessary. It ts recognised that systems can onty provide reasonable but not absolule assuran that major risks have been adequately managed. Page 13
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 Objects. public benefit aims and objectives Charitable Objectives The charitable objectives for which the chaiity was established are lo advance the Roman Catholic religion by the conduct of a Roman Catholic school or schools. and as a Company of Mary Our Lady school. we do this in the spirit of our foundress. St Jeanne de Lestonnac. a progressive and dedicated educator of women of all faiths and none. Notre Dame continues to build on this legacy by accompanying young people in their efforts to build their lives for today and tomorrow. We provide a Roman Catholic eduLion. but are open to and respect the farths and cultures of all members of our comrnunty. Pupils and staff of other denominations and faiths are welcomed and encourag&l to make an active contribution to the spiritual lrfe of the school. Aims, Intended Impact and Grant making policy Notre Dame is an unashamedty holistic school. Our students from 2-18 are plad at the ntre of everything and their physical and mentsl wellbeing is as important as their excellent academic. sporting and artists'c achievements. Pastoral Care is at the heart of school lrfe at Notre Dame but is not at the expense of academic rwour. It fomis the bedrod( on which academic excellence is built.. happy, comfortable and secure children and young women make confident and successful leamers, who feel safe to venture beyond their comfort zone and try new approaches. and who understand that mistakes and failure are an important step in learning. In particular, the schoofs aims are: To develop a secure and stwnulating environment in which pupils are encouraged and challenged to fulfil their potential, both academically and physically and gain an understanding and appreciation of the wider world in which they live. To develop in pupils a responsible and independent attitude towards work and their roles in society and a desire to reach out a tElping hand and contribute to the wider community. To ensure that the school atmosphere is such that all pupils leam tt) appreciate dNersity. respect each otherfs views and beliefs arwj build a reasoned set of attitudes. values and beliets based on Christian principles which will enable them to make a positive difference in the world. To respect each pupil as a valued individual who can choose her own individual path through the school and in tum grow selfsteem confidence and Independen and live an authentic lrfe. To work with parents and families as part of a wider Notre Dame communty To prepare, support and guide each pupil for the next stage of their education, whatever that might be. Page 14
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 The charity's immediate beneficiaries are the girls who attend the school. but the local community (with whom the school fosters strong links across a wide range of activtties) also benefits from what the school does and from access to school facilities. In Ihe opinion of the Govemors. Ihe general public is the ultimate beneficiary of the high qualty education and the greater awareness of social values that the sthool provides lo its pupils. The charity makes available scholarships, means tested bursaries al awards out of unrestricted funds. The ¢hariWs policy, in line with olher independent school operators. is to make awards on the basis of an indNidual's educational potential and bursaries are offered where the pupil's educalion and future prospects would otherwise be at risk. To widen access further, the school also facilttates putting needy families in touch with other potential funding SoUrs. The school provided scholarships, bursaries and discounts to two hundred and five pupils (2019". one hurKlred and ninety three pupils) amounkn'ng to £809,000 (2019: £787,000) all provided from the unrestricted funds of the charty. Means tested bursaries of £329,000 (2019: £284.000) are included in this total. The Govemors also aim to widen access fvrther for new pupils joining the school who would benefft from a Notre Dame education, bLrt whose farnilies are unable to afft>rd the full fees and who have no substants'al capital assets. by offering up to full fee assistan in key year groups for a limited number of places each year. This support is also available to scholarship candidates where they meet the means testing criteria. The school continued to ensure that both current and new initiatives were considered in light of the guidelines identrfied from The Company of Mary Our Lady (COMOL) Educational Project strategy meeting held in June 2011. These guidelines set out the key elements which all COMOL schools and educational projects have in common including: A humanist arKJ Christian education that places people at the ntre and enables them to be citizens of the globe who take collective and transfOatiVe action An educats'on that provides an open leaming opportunty and that educates in life and for Itfe Educators as companions and witnesses to the values and principles in which they want to educate. who are committed to qualty and continuous improvement An educational comrnunty, involved in a common project. in which receptiveness, dialogue. teamwork and c(Fresponsibilty are fundamentsl components. Objectives for the year The principle objectives to fulfil the aims set out above fall into three broad categories: Thinking Space Deliver a highly personalised education for each individual student throughout the schools. rewarding effort and leaming Pay careful attention to each individual's progress through specialist English and mathematics programmes in the Prep School and data-tracked progress measurement in the Senior School Page 15
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 Run an extensive range of academic enrithment events. chaIngeS and opportunities across the whole school Growing Space Help every students to discover new interests Encourage participation by all students in sport. drama and music Embed creativty in the tsaching of all subjects BathIng Space Focus on happiness and success Promote well-being and resilience through Project Florecer in the Prep School and The Lestonnac Approach in the Senior School Relationships with Related Parties The school continues to maintain a strong relationship with the Order of the Company of Mary Our Lady (COMOL). Public Benefit and links with local schools and the wider community The Governors have given due (x)nSeratIon to the Charity Commission's published guidance on the Public Benefit requirements under the Charities Act 2011. As an edurational charity and. in meeting objectives of the charity, the school's aim is to benefrt the public through the advancement of education within the Roman Catholic ethos of educating children and young persons. In addition to providing £329.000 of means-tested assistan to 51 pupils {2019: £284.000 io thirty-three pupils), wider aCsS to the facilities available at the school was promoted this year through numerous hockey, swimming and netball clubs using our facilities in the evenings and at weekends. Unfortunatety. due to Ihe school dosure and restrictions resulting from Ihe pandemic. a number of our planned engagement activities could not take pla this year. but we have continued to WO with local schools in tt)e areas of IT, food and nutrition. Scien and religious studies. In Ihe ALrtumn and Spring terms, our students visited the elderly residents of Whrteley Village. made donations in kind to the Cobham Area Foodbank and raised money for The Otpheus Centre and The Company of Mary's ODNS Cobham Outreach. In addition, during the Summer temi, our chaplain shared collective worship resources wtth other schools in our deanery. Page 16
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 ststement of Governors, Responsibilities members of the Goveming Body (who are also directors of Notre Dame School Cobham for the purposes of company law) are responsible for preparing the Govemors. Annual Report and the financial statements in accordance wth applicable law and United Kingdom Generally Accepted Accounting Practi {United Kingdom Accounting Stsndards). Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Goveming Body have elected to prepare the financial statements in accordan wth United Kingdom Generally Accepted Accounting Praclice (United Kingdom Accounting Standards) and applicable law. Under company law the Governing Body members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resour5 and application of resource5. including the income and expenditure. of the charitable company for that period. In preparing these financial staternents, the Trustees are required to: select suitsble accounting policies and then appty them consistently. observe the methods and principles in the Charities SORP; make judgments and estimates that are reasonable and prudent" state whether applicable UK accounting standards have been foll0vd, subject to any material departures disclosed and explained in the financial slatemenls,. and prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charitable company will continue in business. The members of the Goveming Body are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions. disclose with reasonable accuracy at any time the financial posilion of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity's constitution. They are also sponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. R•levant audlt Infom)ation So far as each of the Govemors is aware, there is no relevant audit infonnation of which the charitable company's auditors are unaware. Each of the Govemors has taken all the steps that he or she ought to have taken as a Govemor in order to rnake ourselves aware of any relevant audit infonnats'on and to establish that the charttable company's auditors are aware of that infonnation. Page 17
Notre Dame School Cobham Annual Report of the Governors for the year ended 31 August 2020 This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006. VRS approved by the Board of Govemors on 23rd March 2021, including in their capacty as company directors approving the Directors. and Strategic Reports contsined therein, and is signed asauthorised on its behalf by: . Govemor Gerald Russell FCA 23 March 2021 Page 18
Independent Auditorfs Report to the members of Notre Dame School Cobham Opinion We have audited the financial slatements of Notre Dame School Cobhafn for the year ended 31 August 2020 which comprise the Statement of Financial Acttvities. Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applieable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi). In our opinion the financial ststemenls: give a twe and fair view of the state of the charitable companys affairs as at 31 August 2020 and of its incoming reSoUrS and application of resources. including its income and expenditure for the year then ended; have been properfy prepared in accordan with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the Gharitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fUilled our other ethical responsibilitses in accordance wtth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to golng conc•m We have nothing to report in respect of the following matters in relalion to which the ISAS (UK) require us to report to you where: the trustees. use of the going concern basis of accounting in Ihe preparat•on of the financial statements is not appropriale,. or the trustees have not disclosed in the financial staternents any identifd material uncertainties that may cast sTrgnificant doubt about the charitable company's abilty to continue to adopt the going concem basis of accounting for a period of at least twelve months from the date when the financial slatements are authortsed for issue. Other information The trustees are responsible for Ihe other inforniation. The other information comprises the infomiation included in the annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other information Page 19
Independent AUdit0S Report to the members of Notre Dame School Cobham and, excepl to the extent otherwise explicitty ststed in our report. we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial ststements. our responsibilty is to read the other infomation and. in doing so. constder Ythether the other information is materially inconsistent with the financial statements or our knowledge obtsined in the audit or otherwise appears to be materially misststed. If we identify such material inconsistencies or appant material misstatements. we are required to determine whether there is a material misststement in the financsal statements or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prnscribed by th• Companles Act 2006 In our opinion based on the work undertaken in the course of our audit the information given in the Iruslees. report. which indudes the directors, report and the strategic report prepared for the purposes of company law. for the financial year for which the financial statements are prepared is Consistent with the financial statements: and the slrategic report and the directors, report included within the trustees, report have been prepared in accordan WTth applicable legal requirements. Matters on whlch we are required to report by exception In light of the knOwdge and understanding of the charitable company and ts environment obtained in the course of the audit. we have not idenlffied material misstatements in Ihe strategic report or the directors. report irKILKled within the trustees, report. We have nothing to report in respect of the following matters in relation to which the CompanEs Act 20[ requires us to report to you rf, in our opinion: adequate accounting COrdS have nol been kept. or the financial statements are not in agreement with the accounting records and retums: or certain disdosures of trustees. remuneration specit*d by law are not made" or we have nol received all the information and explanations we require for our audit. Responsibilities of tntstees As explained more fully in the trustees. responsibilitie5 Statement set out on page 17, the trustees (who are also the directors of the charitable company for the purposes of company Page 20
Independent Auditorfs Report to the members of Notre Dame School Cobham law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair VEW. and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or ern)r. In preparing the financial stalemenls, the trustees are responsible for assessing the charitable company's abilty to continue as a going Concem. disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Audltofs responsibilities for the audlt of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as whole are free from material misstatemenL whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to inlluence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uklauditorsresponsibilitEs. This description forms part of our auditorfs report. Use of our report This report 15 made solety to Ihe charitable compan$ members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work. for this report, or for the opinions we have formed. Andrew Thomas Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London Date: 10 May 2021 Page 21
Notre Dame School Cobham ststement of Financlal Activities for the year ended 31 August 2020 2019 Total £'ooo Notes Unrestrlcted Restrlcted funds funds £'ooo £'ooo 2020 Total £'ooo Income from: Donations 20 45 42 Charitable activities 9,350 9,350 9,219 Investments 28 28 26 Other income 194 194 Total 9.592 9,637 9,287 Expendlture on: Raising funds 25 25 24 Charitae acti%ities 9.253 9,253 8.938 Total 9.253 25 9.278 8,962 Net income Transfers between funds Net movement In funds Reconcillatlon of funds: Totsl funds brought forward Totsl funds rArried fomard 339 20 359 325 20 359 325 339 27 10.790 10,465 10,763 11,102 47 11,149 10,790 The notes on pages 25 to 41 fomi part of these financial ststements. Page 22
Notre Dame School Cobham Balance Sheet as at 31 August 2020 Notes 2020 2019 £'ooo £'ooo Flxed assats: Tangible assets 8,161 8,284 Investments 10 2,550 1,600 Total fixed assets 10.711 9,884 Current assets: Debtors 11 187 217 Cash at bank and in hand 2,298 2,498 Total cuffent assets 2,485 2.715 Liabililies: Creditors.. amounts falling due wthin one year 12 1,799 1.657 Net cuent 8ssets 686 1,058 Total assets less cuffent liabileS Creditors: amount5 falling due after more than one year Total net assets 11,397 10.942 13 248 152 11,149 10,790 The funds of the school: Restricted income funds 15 47 27 Unrestricted funds 15 11.102 10,763 Totsl School funds 11.149 10,790 These financial statements were approved by the Goveming Body on 23rd March 2021 and Yre signed on its behalf by: Gerald Russell FCA Govemor The notes on pages 25 to 41 fonn part of these financial statements. Page 23
Notre Dame School Cobham Statsment of Cash Flows for the year ended 31 August 2020 Notes 2020 £'ooo 2019 £'ooo Cash flows from operatlng activilies: Net cash pmvided by operating acbvibes 19 949 811 Cash flows from investing athitsos: Intet from investments 28 26 Purthase of property. plant and equipment (227) (125) Purchase of inveslments (950) (600) Net cash used in investing actfvltks (1,149) {699) Change in cash and cash equivalents in the year (200) 112 Cash and cash equivalents at th• beginning of the year Cash and cash equivalents at the end of the year 2,498 2,386 20 2.298 2,498 The notes on pages 25 to 41 fomi part of these financial slatements Page 24
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 Accounting policies The financial statements have bn prepared in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Statement of Recommended Practice applicable lo chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). The functional currency of the school is considered to the GBP because that is the currency of the primary economic environment in which the school operates. The accounts are dra up on the historical cost basis of accounting, as modrfied by the revaluation of other investments. Having considered a number of dtfferent models and forecasts covering a range of different scenarios including a signrficant drop in student numbers and increased costs of staff cover due to sickness, the Governors are satisfied that the revised budget and forecast reflect the mostly likely scenario and that it contains enough fiexibility to yather a second year of uncertainty. In light of these projections, the funding facilities available to the school. the expected ongoing demand for places and the school's future projected cash flows, the Govemors have a reasonable expectation that the school has adequate reSoUrS to continue its activities for the foreseeable future and consKler that there were no material UnrtaIntieS over the school's financial viabilty. Accordingly, they continue to adopt the going concem basis in preparing the financial statements as outlined in the Ststement of Governors, Responsibilities on page 17. The school is a Public Benefft Entity registered as a charity in England and Wales and a company limited by guarantee. It was incorporated on 22 December 1999 (company number 03898262) and registered as a charity on 7 August 2000 (charity number 1081875). Crftlcal accounting judgements and key sources of estimation uncertainty In the application of accounting policies, Govemors are required to make judgements, estimales and assumptions about the carrying value of assets and liabilities thal are not readily apparent from other sources. The estimates and underfying assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from the estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised rf the revision affects only that period, or in the period of the tevision and future periods if the revision affects current and future periods. In the view of the Govemors, no assumptions conceming the future or estimation uncertainty affecting assets or liabilities at the balan sheet date are likely to result in a material adjustrnent to their carrying amounts in the next financial year. Page 25
Notre Dame School Cobham Notes to the Financial Ststements for the year ended 31 August 2020 The followng accounting policies have been applied )nSIstenty in dealing with items which are considered rnaterial in relation to the school's financial statements. 1.1 Fees and similar earned income Fees receivable and charges for services and use of the premises. less any allowances. scholarships and bursaries granted by the school against those fees are accounted for in the period in which the Servi is provided. 1.2 Investment Income Inveslment income is accounted for on an accruals basis. 1.3 Donations and other voluntary income Voluntsry income is accounted for as and when ent"rtlement arises, the amount can be reliably quantifEd and the economic benefft to the school is considered probable. Voluntary income for the school's general purposes is accounted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposed trust law restrictions, voluntary income is credited to the relevant restricted fund. 1.4 Government grants Govemment grants are recognised on the perf0rnan mojel. when the school has complied with any conditions attaching to the grant and the grant will be received. The grant in connection to the job retention scheme has b recognised in the period to which the undertying furloughed staff costs relate. 1.5 Expenditurn Expenditure is recognised in the period in which it is incurred, with liabilities being recognised where there is a legal or constructive obligation to pay. Expenditure is allocated to the school's principal activity where the costs can be identified as being directly related to that activity. All cosls that cannot be identified as relating directly to the school's principal activty are categorised as either support costs or govemance costs. Any costs that cannot be specifically categorised are allocated in proportions based upon a suitable ratio applicable to the nature of the cost involved. The irrecoverable element of VAT is induded WFth the item of expense to which it relates. Governance costs comprise the costs of complying with constitutional and statutory requirements, such as the costs of Goveming Body and committee meetings and satisfying public accountabilty. 1.6 Operating leases Rentals under operating leases are d)arged on a straight-line basis over the lease term, even rf the payments are not made on such a basis. Beneffts r1Ved and reNable as an incentive to sign an operating lease are similarty spread on a straight-line basis over the lease term. Page 26
Notre Dame School Cobham Notes to the Financial Ststements for the year ended 31 August 2020 1.7 Tangible fix assets All tsngible assets purchased that have an expected useful economic lrfe that exceeds one year are capitalised and classffied as fixed assets. Fixed a&sets are stated at historical cost. Items costing less than £1,000 are written off as an expense as acquired. 1.8 Depreciation Depreciation is provided to write off the cost of all relevant tsngible fixed assets less estimated residual value based on current market pris, in equal annual instalments over their expected useful economic lives as follows: Freehold land Freehold buildings Freehold Improvements Vehicles, equipment, fixtures and fittings not depreciated 50 years over 10 to 25 years over 4 to 10 years 1.9 Fund accounting The charitsble trust fvnds of the school a accounted for as unrestricted or restricted income in accordance with the temis of trust imposed by the donors or any appeal to which they may have responded. Unrestricted income belongs to the school's general serVeS. spendable at the discretion of the Governors either to further the schools Objects or to benefit the school itself. Where the Govemors decide to set aside any part of these funds to be used in future for some specffic purpose. this is accounted for by transfer to the appropriate designated fund. Restn'cted income comprises grfts where there is no capital retention obligation or power but only a trust law restriction to some specific puw intended by the donor. 1.10 Pension costs Retirement benefrts to employees of the school are provided through three pension schemes, one defined benefft and Iwo defined contribution. The pension costs charged in the Statement of Financial Act5Vtties are detemlined as follows: (a) Teachers, Pension Scheme (to 31 Dernber 2020) This stheme is a multi*mployer pension scheme. It is not possible to identify the school's share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis and therefore, as required by FRS102, accounts for the scheme as rf it were a defined contribution scheme. The school's contributions. which are in accordance with the recommendations of the Govemment Actuary. are charged in the period in which the salaries to which they relate are payable. Page 27
Notre Dame School Cobham Notes to the Financial Ststements for the year ended 31 August 2020 (b) Notre Dame School Group Personal Pension This is a defined contributions group personal pension plan. Employerfs pension costs are charged in the period in whith the salaries to which they relate are payable. (c) APTIS (from 1 January 2021) This is a defined contributions master trust scheme. Employe¢s pension costs are charged in the period in which the salaries to which they relate are payable. 1.11 Fees In advance Amounts received under the school's Fees in Advance Scheme contracts for education not yet utilised to settle school fees are recorded as deferred income. They are allocated as current liabilities where the education will be provided within 12 months of the reports'ng dale and as long-term liabilities where the education will be provided in subsequent years. 1.12 Financial instruments Basic financial instruments are initially recognised at transaction value arKI subsequently measured at amortised value. Financial assets held at amortised cost comprise cash at bank and in hand (note 20). together with all deblors excluding prepayments (note 11). A specffic provision is made for debts for which recoverabilTty is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as wOlg capital. Financial liabiltti'es held at amortised ulst comprise deposts, trade and other creditors, and accruals (note 12). 1.13 Investments Cash on deposit which is not needed for working capital within the forthcoming year is shown under investments (note 10). Investments are held at fair value at the Balan Sheet date. Income from donations 2020 Total 2019 Total £'ooo FOND 45 42 Other 20 Total 65 42 FOND donations are restricted. Other donations were used to provide additional hardship support to parents during Ihe school closure. Page 28
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 Income from charitable activities 2020 £'ooo 2019 £'ooo Fees receivable for tuttion 9.686 9,064 Less: discount relating to school closure during lockdown Less: bursaries, discounts and allowances (476) (809) (787) 8,401 8.277 Other income 949 Total 9.350 9.219 All income from charitable activilies is unrestricted Other Income 2020 2019 £'ooo Job Retention Scheme grant income 194 Expenditure on raising funds 2020 2019 £'ooo Fund raising expenses 25 24 All expenditure on raising funds is restricted and relates to FOND. Page 29
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 Expenditure on charitable activities costs £'ooo Depreciallon Other cost £'ooo 2020 Total £'ooo 2019 Total £'ooo Teachirvj 430 5.730 5,587 Wellare 11Y) Premises 1,296 1.115 Support 744 350 1.584 1.537 Total 6,392 350 2,511 9,253 8,938 Governan costs included within support costs are as follows: 2020 £'ooo 2019 £'ooo Remuneration paid to auditor for. statutory audit other assuran servi 27 25 Other governan costs Total 31 31 The average Month number of persons employed by the school {excluding Govemors) during the year was 155 {2019: 148). The school also employed 23 casual staff (2019: 26) who worf( on a seasonal basis. The staff costs for the above persons were as follows.. 2020 £'ooo 2019 £'ooo 4.702 Wages and salaries Social security costs Pension costs- Teachers, Pension Scheme 5,000 496 466 797 521 Pension costs- Not Dame School Group Pension Plan Total 99 68 6.392 5,757 Page 30
Notre Dame School Cobham Notes to the Financial Ststements for the year ended 31 August 2020 Staff costs and related party transactions Included in the above are redundancy and temiination sts of £45,636 (2019: £39.278) of which £45,636 vtss unpaid at the year*nd (2019: £39,278). None of the Govemors recetved any remuneration for servi$ as a trustee of the charity or as a director of the company during the current or previous year. During the year travel expenses of £nil were reimbursed to zero govemors (2019: £465 to one governor). The school has tsken out a public liability Insuran policy Ihat provides professional indemnity cover for the Govemors and staff of the chartty. The cost of this Insuran policy to the school for the year was £1,974 (2019. £1.714). The key management personnel of the school received salary and benefits, including employe¢s pension and natj'onal insurance, to the value of £368.000 (2019: £327,000). The number of employees whose totsl employee benefrts (excluding employer pension costs) for the period were MO than £60.000 were: 2020 Number 2019 Number £60,000 to £69,999 £70.000 to £79.999 £80,000 to £89,999 £100,000 to £109,999 £110,000 to £119,999 Total Ultimats Controlllng Party The Order of Ihe Company of Mary Our Lady is based in Rome and appoints the SG Govemors to the Board of Notre Dame School (which is a foundation of the Company of Mary Our Lady), to ensure that the ethos and educational mission of the Order continues in the school. The school was set up in a separate charty to enable rt to operate independently of the Order. As the Board of the school is comprised of a majorty of SG Govemors, it regards the ntral govemment of Ihe Order in Rome to be its U$mate Controlling Paty. Notre Darne School is not induded in the group accounts of the said govemmenl in Rome, as it does not receive any benefft derived from tts control. Page 31
Notre Dame School Cobham Notes to the Financial Ststements for the year ended 31 August 2020 Staff costs and related party transactions (continued) Relatsd parlies The Order of the Company of Mary Our Lady CIO (Charity Number 1173559) is a related paty of Notre Darre School and three of its trustees are also trustees of the sthool. During the year, the school paid rent of £120.000 to the Order (2019: £120,000) and made a voluntary donation of £40,000 {2019: £40,000) to the Order for the furtheran of its mission. Statement of Financial Activities - comparative figures by fund type Year ended 31 August 2019 Unrestricted funds £'ooo Restricted funds £'ooo 2019 Total £'ooo Income from: Donations Charitable activities Investments Other income 42 42 9,219 26 9.219 Total Expendlture on: Raising funds Charitable activiiies Total Net income Transfers between funds Net rnovement in funds Raconcillatlon of funds: Total funds brought forward Total funds carrled forward 9,245 42 9,287 24 24 8.938 8,962 325 8,934 8,934 311 28 14 311 14 325 13 10,452 10,465 10.763 27 10,790 Page 32
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 Tangible fixed assets Vehicles, equipmenL fixtures and fittings £'ooo Freehold Land Freehold buSldings Total £'ooo £'ooo £'ooo Cost At 1 September 2019 6.468 3.057 10,373 Additions 227 227 Disposals {89) {89) At 31 August 2020 6,468 3,195 10.511 Depreclatlon At 1 September 2019 1,302 787 2.089 Disposals (89) (89) Charge for the year 130 220 350 At 31 August 2020 1,432 918 2,350 Net book value At 31 August 2020 5,036 2,277 8.161 At 31 August2019 5,166 2.270 8,284 The school has scKne long-held historic assets used in the course of the school's educational activities. These include the tsbemacle, chall5 and candlesticks provided by the Order and used by the school for its masses. Due to their age. reliable historical cost infonnation is not available for th&se assets and could not be obtsined except at disproportionate expense. However. in the opinion of the Govemors. the depreciated historical cost of these assets would now be immaterial. Page 33
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 10 Investments 2020 2019 £'ooo Cash on deposit 2,550 1.600 11 Debtors 2020 £'ooo 2019 £'ooo Fees receNable for tuitton 73 12 Other debtors 25 25 Prepayments 89 180 Total 187 217 All debtors are due within one year. 12 Creditors: amounts falling due within one year 2020 £'ooo 2019 £'ooo Deposts from parents 408 393 Trade creditors 329 195 Other taxes and social security costs 124 116 Other creditors Accruals 268 205 Deferred income 80 91 Fees recetved from parents in advan of temi 445 494 Fees in advan scheffle 136 156 Total 1,799 1,657 Page 34
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 13 Creditors: amounts falling due after more than one year 2020 £'ooo 2019 £'ooo Fees in advan scheme 248 152 14 Fees in advance scheme Parents may enter into a contract to pay the school in advance for fixed contributions towards the tuttion fees for up to fve years. The money may be retumed subject to specrfic conditions on the rlpt of notice. Assuming pupils will remain in the school, fees in advance will be applied as follows: 2020 2019 £'ooo Within two to five years 154 75 Within one to two years 77 248 152 Wrthin one year 136 156 Totsl 308 Summary of movements in liability £'ooo Balance at 1 September 2019 308 New contracts 238 Amounts used to pay fees (162) Balan at 31 August 2020 Page 35
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 15 The funds of the school 31 August 2019 Transfers In¢ome Exp8rKliture between funds £'ooo 31 August 2020 £'ooo Restricted funds Prayer Garden FOND 26 (25) Tolal reslricted furKIs 27 45 (25) 47 Unrestricted funds Fixed assets 8.284 (123) 8,161 Convent Lane repairs 135 20 155 COVID fund 500 Future capitsl projects 1.594 192 1.786 Total design*ed funds 10,013 589 10,602 General fund 750 9.592 {9.253} (589) 500 Total unrestricted funds 10.763 9.592 (9,253} 11,102 Total funds 10.790 9.637 (9,278) 11,149 The parents, association. Friends of Notre Dame (FOND) operates as a committee under the auspices of the school. The FOND commrttee's remit is to raise funds for the school from the current parents and friends of the schoo5 and to detetrnine which projects I requests from the school Y11 be supported. The FOND fund comprises amounts raised by the cornmittee which have not yet been spent. The designated fixed assets fund represents unrestricted funds retained to finan the freehold property and fixed assets. The deSnated Convent Lane repair3 fund represents unrestricted funds set aside to cover the costs of maintaining Convent Lane. The designated COVID fund represents unrestricted funds set aside to cover costs which were deferred as a result of the school closure. The designated future capital projects fund represents unrestrictsd funds earmarked for future caprtal projects. Page 36
Notre Dame School Cobham Notes to the Financial Ststements for the year ended 31 August 2020 15 The funds of the school (continued) At the end of each year, transfers are made between the fixed assets, futurn capltal projects, Convent Lane repairs and general funds to reflect changes in fixed assets during the year and amounts set aside to cover future development plans ar•d repair costs. The funds of the school for the previous financial year were as follows: 31 Transfers August Income Expenditure between 2018 nds £'ooo £'ooo 31 August 2019 £'ooo £'ooo Rostricted funds Prayer Garden FOND 12 42 (28) 26 Total restricted funds 13 42 (28) 27 Unrestrictsd funds Fixed assets 8,678 (394) 8,284 Convent Lane repairs 135 135 Future capital projects 1.024 570 1,594 Total designated funds 9.702 311 10,013 General fund 750 9.245 (8.934) {311) 750 Total unrestricted furKIs 10.452 9.245 (8,934) 10,763 Total funds 10.465 9.287 (8,962) 10,790 Page 37
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 16 Analysls of net assets between funds At 31 August 2020, the analysis of net assets bettsn funds was as follows: Fixed Net current Long temi assets a88ets Total £'ooo £'ooo Restricted funds Prayer Garden FOND 46 47 47 Unrestricted funds Fixed assets 8.161 155 8,161 155 Convent Lane repairs COVID fund 500 500 Future capital projects General fund 2.395 (361) 500 (248) 1,786 500 10,711 10,711 639 (248) (248) 11,102 11.149 Net assels Al 31 August 2019. the analysis of net assets beiween fijnds was as follows: Fixed Net current Long temi asset3 assets liabilities £'ooo £'ooo £'ooo Totsl £'ooo Restricted funds Prayer Garden FOND 26 26 27 27 Unrestricted fvnd$ Fixed assets Convent Lane repairs Future caprtal projects General fund 8.284 8.284 135 135 1,600 (6) 902 1,594 750 (152) (152) (152) 9,884 9.884 1,031 1.058 10,763 10,790 Net assels Page 38
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 17 Commitments under operating leases The school is committed to making the following minimum lease payments under non- CanlIable operating leases: 2020 £'ooo 2019 £'ooo Not later than one year 165 134 Later than one year and not later than five years More than five years 168 142 Included wrthin the financjal statements are operating lease costs of £134.000 (2019: 134,000) The school leases Burwood House from the Order of the Company of Mary Our Lady. The lease ha5 a term of 999 years from 1 September 2002. and the current annual ntaI due under the lease is £160,000 (2019: £120,000). The school can can1 the lease at any time by giving the Order trtelve months. written noti. 18 Pension commitments During the year ended 31 August 2020, the school participated in the Teachers. Pension Scheme (llhe TPSJ for ils teaching staff. The pension charge for the year includes contributions payable to the TPS of £797,000 (2019: £521.000) and at the yearend £96.000 {2019 - £67,000) was accrued in respect of contributions to this scheme. The TPS is an unfunded MutteMploYer defined beneffts pension scheme governed by The Teachers. Pensions Regulations 2010 (as amended) and The Teachers, Pension Scheme Regulations 2014 (as amended). Members contribute on a "pay as you go. basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefrts are paKI by public funds provided by Parliament. The employer contribution rate is set by the Secrelary of State following scheme valuations undertaken by the Govemment Actuarls Departrnent. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valualj'on Report. which was published in March 2019. confimed that the employer contribution rate for the TPS would increase from 16.4Yo to 23.60/0 from 1 September 2019. Employers are also required to pay scheme administration levy of 0.08% giving a totsl employer contribution rate of 23.68%. The 31 March 2016 Valuation Report was prepared in accordan with the benefrts set out in the scheme regulations and under the approach specsfied in the Directions, as they Page 39
Notre Dame School Cobham Notss to the Financial Statsments for the year ended 31 August 2020 applied at 5 March 2019. However. the assumptions were considered and set by the Department for Education prior to the ruling in Ihe 'McCloudlSargeant case,. This case has required the courts to consider cases regardirvJ the implementation of the 2015 reforms to Public Service Pensions including the Teachers, Pensions. On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal's judgment that transitiork31 provisions introduced to the reft)tmed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Court's decision and has saFd it V11 engage fully wtth the Employment Tribunal as well as employer and member representatives to agree how the discrirninations will be remedied. A consultation was launched by the govemment on 16 July 2020, and closed to responses on 11 October 2020. As a result of the consultation, the govemment announced on 4 February 2021 that it intends to proceed with a deferred Choi underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their Servi during the period between 1 Poril 2015 and 31 March 2022 at the point they become payable. The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers againsl unforeseen changes in scheme costs. The Chief Secretary to the Treasury. having in 2018 announced thal there would be a review of this cost cap mechanism. in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal's ruling in the Mccloudlsargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020 and the government is preparing to cornplete the cost control element of the 2016 valuations, vthich is expected to be completed in 2021. In view of the above rulings and decisions the assumplions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this snario, a valuation prepared in accordance with revised benefrts and surtably wised assumptions would yield different results than those contained in the Actuarial Valuation. Until the consultation and the cost cap mechanism review a completed it is not possible to conclude on any finanoal impact or future changes to the contribution ratss of the TPS. Accordingly no provision for any additional past benefit pension costs is included in these financial statements. Following a consultation. the school withdrew frorn the Teachers. Pension Scheme on 31 December 2020. Page 40
Notre Dame School Cobham Notes to the Financial Statements for the year ended 31 August 2020 19 Reconciliation of cash flows from operating activities 2020 £'ooo 2019 £'ooo Net Income for the year 359 325 Adjustments for: Depreciation charges 350 519 Interest from investments (28) (26) Decrease in debtors 30 10 Increase l (Decrease) in creditors 238 (17) Net cash provided by operating activities 949 811 20 Analysis of cash and cash equivalents 2020 £'ooo 2019 £'ooo Cash in hand 2,298 2.498 Total cash and cash equlvalents 2,298 2,498 Page 41